Tag Archives: USD

USDCAD Is Retracing Towards POC

Nenad Kerkez

US FED will release the statement today, without any press conference and we will probably have some range-bound market till FED statement. Expectations towards rate hike are rising and we could see a rate hike in between September and December. US CPI has come in line with expectations, Core Durable Orders also while major news release for CAD will be GDP later in the week (Friday). However any mention of a possible hike is bullish to USD and traders will pay close attention to FED’s statement. more…

EURUSD Continues Bearish Move Towards Parity Level

Gregor Horvat

EURUSD recovered nicely since March, but we see price action choppy, overlapping and very slow compared to previous strong decline. That’s characteristics of a corrective price action, so we assume that this is just a pause within larger downtrend which may resume through August, as pattern can be near completion. Ideally pair will continue straight down into wave V targeting 1.0000 psychological level. more…

EURUSD Is Giving Mixed Signals

Ville Vainio

EURUSD pushed higher Thursday and this puts my wave count to jeopardy. This is still valid count and the upwards move is in 3 waves. If the upwards price action persists, there is likely another count more suitable here. The recent low allows the triangle scenario which I have talked about before. If EURUSD continues higher I am going to adopt the triangle count below. more…

AUDUSD Is At New Low, Targeting 0.7200

Gregor Horvat

AUDUSD is at new low after the pair completed fourth wave pullback, but earlier than we thought. However, our main focus was for a continuation down to lower levels which are now coming in play as pair already trades in wave 5 of 3) that can be targeting 0.7200 soon. Based on the lasts price action we expect a bounce next week again into a fourth wave of a larger degree. more…

USDCHF: Four-Decade Low in US Jobless Claims Could Overcome Bearish Technicals

Matt Weller

Last week, we highlighted a confluence of key resistance levels in the .9600-50 zone on USDCHF (See “USDCHF: Two Swiss-Cheese Style Holes on the Way to Parity” for more). As anticipated, the pair edged up into that area and has since turned lower to fall over 100 pips from the high set earlier this week. Now, the question on traders’ minds is “Where will the pair head next?” more…

AUDUSD Looks For Correction

Gregor Horvat

AUDUSD is at new lows which has been expected in the last few months as rally from April to May highs has a clear corrective personality as mentioned at the time. We labeled it as wave (4), so current leg down from 0.8160 should then be wave (5), final leg within a bearish sequence. However, before we may look for a bottom formation we need five subwaves down into around 0.7000 area where bottom could be seen sometime this year. more…

EURUSD To Make New Lows To 1.0695?

Ville Vainio

EURUSD was on a down note with the Greek vote last week adding some volatility to this pair. In my opinion, no matter what, Greece is staying on the Euro zone. I am expecting this pair to decline further before turning bullish for the next corrective wave up. If this is going to be a triangle forming here, the decline should be subdued. If this is following my preferred wave count, This can go much lower. We will find out soon enough which view is correct. more…

EURUSD: all bears need now is a ‘lower low’

Fawad Razaqzada

The EURUSD has been trending lower in recent weeks and the selling pressure has accelerated over the past few days as the investor focus has returned to the interest rate differential between the US and Eurozone economies. Whereas the Fed has signalled that it is ready to hike rates later this year, the ECB has only recently started QE and there were no suggestions from President Mario Draghi today that the bank is ready to trim or end the €60 billion a month stimulus programme early. In fact, Draghi said the ECB has temporarily increased emergency funding to Greek banks by €900m. Thus, the ultra-accommodative monetary policy is here to stay for now and this should in theory put downward pressure on European bond yields, which in turn could depress the euro even further. more…

NZDUSD Traders Crying Over Spilt Milk, Could .6400 Be Next?

Matt Weller

If I had told you Tuesday that China’s quarterly GDP would beat expectations, backed up by strong growth in Industrial Production and Retail Sales, you would logically expect NZDUSD to be trading higher. After all, China is New Zealand’s second-largest trading partner behind Australia, which is itself heavily dependent on growth in the world’s largest economy. Unfortunately, this simplified analysis ignores one critical factor: the price of milk. more…