Market Analysis

04/28/2015 - 06:56
Demand for the US dollar revived on Monday in the global environment of uncertainty. We’ll watch the consumer confidence index on Tuesday (14:00 GMT). Market attention is glued to the Wednesday’s US calendar: there are advance Q1 GDP (12:30 GMT) and FOMC meeting (18:00 GMT) on the schedule. Rate hike expectations will likely fix on September after these releases, so the USD bullish correction is limited. EUR/USD pulled down from the 1.0900 mark as the Greek voes continue to hurt market...
04/24/2015 - 07:56
The greenback came under renewed pressure on Thursday as the bearish news flow from the US disappointed the market. Unemployment claims came out above the forecast (295K), while new home sales disappointed to the downside (only 481K). What is important, April manufacturing PMI disappointed to the downside (54.2), raising fears that slow growth is extending into Q2. We’ll watch US durable goods orders on Friday (forecast – upbeat). EUR/USD trade remains volatile with the pair recovering to 1....
04/23/2015 - 08:32
Open positions:* EUR/USD: Hold LONG at 1.073, TAKE PROFIT 1.0888, STOP LOSS 1.0659 USD/JPY: Hold LONG at 119.45, TAKE PROFIT 120.84, STOP LOSS 119.29 (revised) GBP/USD: Hold LONG at 1.4925, TAKE PROFIT 1.5155, STOP LOSS 1.4930 (revised) USD/CHF: Hold LONG at 0.9565, TAKE PROFIT 0.9862 (revised), STOP LOSS 0.9559 (revised) USD/CAD: Hold LONG at 1.2245, TAKE PROFIT 1.2388, STOP LOSS 1.2170 EUR/JPY: Hold LONG at 128.40, TAKE PROFIT 130.36, STOP LOSS 127.42 NZD/USD: Hold SHORT at 0.7600, TAKE...
04/23/2015 - 07:40
EUR/USD faces resistance in the 1.0775/1.0800 area created by the line connecting December and April highs. This together with concerns about Greece lets us think that the euro remains a sell. Support is at 1.0682, 1.0660 and 1.0640. Don’t miss the release of the euro area’s key manufacturing & services PMIs at 07:00-08:00 GMT. Slightly better readings are expected. GBP/USD rose above last week’s highs testing 1.5080 to meet resistance provided by the daily Ichimoku and 55-day MA. Support...
04/22/2015 - 07:33
Open positions:* EUR/USD: Hold LONG at 1.0734, TAKE PROFIT 1.0888, STOP LOSS 1.0659 USD/JPY: Hold LONG at 119.45, TAKE PROFIT 120.84, STOP LOSS 118.95 GBP/USD: Hold LONG at 1.4925, TAKE PROFIT 1.5155, STOP LOSS 1.4850 USD/CHF: Hold LONG at 0.9565, TAKE PROFIT 0.9770, STOP LOSS 0.9479 USD/CAD: Hold LONG at 1.2245, TAKE PROFIT 1.2388, STOP LOSS 1.2170 EUR/CHF: Hold SHORT at 1.0420, TAKE PROFIT 1.0186 (revised), STOP LOSS 1.0331 NZD/USD: Hold LONG at 0.7655, TAKE PROFIT 0.7809, STOP LOSS 0.7575...
04/22/2015 - 07:29
US Dollar The US currency is struggling to recover following the last week’s selloff with the USD index reaching 98.70 on Tuesday. The US corporate profits are coming out slightly better than expected – in comparison to reduced forecasts. This factor could render some support to the US financial markets in the near term. You should also watch the US existing home sales and crude oil inventories on Wednesday. EUR/USD ZEW economic activity indices came out mixed on Tuesday with the German figures...
04/21/2015 - 07:56
Open positions:* USD/CHF: Hold LONG at 0.9565, TAKE PROFIT 0.9770, STOP LOSS 0.9479 USD/JPY: Hold SHORT at 119.67, TAKE PROFIT 118.30, STOP LOSS 119.65 GBP/USD: Hold LONG at 1.4925, TAKE PROFIT 1.5155, STOP LOSS 1.4850 NZD/USD: Hold LONG at 0.7655, TAKE PROFIT 0.7809, STOP LOSS 0.7575 EUR/JPY: Hold SHORT at 128.70, TAKE PROFIT 126.08, STOP LOSS 128.85 EUR/CHF: Hold SHORT at 1.0420, TAKE PROFIT 1.0186, STOP LOSS 1.0331 Trade signals: USD/CAD: SELL at 1.2305, TAKE PROFIT 1.2047, STOP LOSS 1....
04/21/2015 - 07:14
US dollar weakened last week on the stream of weaker-than-expected data releases in the US. On Friday, however, bright consumer sentiment provided the greenback some support. As a result, it reached technical support versus some of the major currencies and may strengthen a bit. Still, we don’t speak about the uptrend resumption in USD – for this we need more positive statistics. This week watch US unemployment claims on Thursday and durable goods on Friday. EUR/USD met resistance in the 1.0850...

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