Market Analysis

07/03/2015 - 08:21
US labor market data disappointed those who wanted to price in more of the potential Federal Reserve rate hike. Non-farm payrolls 223K (forecast: +231K). The previous reading was revised down from 280K to 254K. Unemployment rate declined more than expected, but wage growth stagnated that makes the Fed’s policy tightening difficult. On Friday US banks will be closed in observance of the Independence Day. Lower amount of liquidity will make trading more volatile. Weaker US figures helped to keep...
07/02/2015 - 07:37
The greenback strengthened after the strong data releases in the United States. According to ADP, June Non-farm payrolls came out at 237K, this is well above the forecasts. As a result, the market sentiment improved ahead of the official labor market data release on Thursday (NFP forecast: 231K). EUR/USD extended the decline following the US releases.The Greek question remains unclear: technically, the country has entered the default zone yesterday, but negotiations continue.ECB head Mario...
07/01/2015 - 06:54
Greece remains the center topic for all traders. German Chancellor Angela Merkel said that the deadline for Greece’s bailout runs out at midnight on July 1. Still, the negotiations are expected to continue in the days ahead. EUR/USD is trading in 1.1250/1.1135 area. Support is at 1.1050 and 1.0960. Resistance is at 1.1280, 1.1380 and 1.1465. USD/JPY met support line since summer 2014. The key support is at 122.00, further support levels lie at 121.85 and 121.55. Strong resistance is at 123.20....
06/30/2015 - 13:00
Commerzbank: There was a bullish day reversal candle formed on Monday. Resistance is at 1.1290/1.1325 ahead of 1.1440/1.1534. Still, intraday charts remain negative. Strategists are in small shorts. Support is in the 1.0950 area. Danske Bank: There will be safe haven flows as uncertainty will remain high ahead of Greek referendum, so EUR/USD and EUR/CHF will go down. The decline may speed up if the first polls show that Greek population is leaning towards a ‘no’ to the referendum proposal....
06/30/2015 - 08:53
The financial market is being dominated by the two major topics on Monday: the “Greek issue” and the Chinese stock market. As a result, the market turned into a risk-off mode. The majority of the global stock markets have spent the day in the red zone, while the US Dollar index fell from 96.60. Watch the consumer confidence index in the US on Tuesday. EUR/USD opened the day with a large bearish gap at 1.1000, but managed to close it during the day. Euro left the downbeat German CPI (-0.1% in...
06/29/2015 - 08:13
Open positions:* EUR/USD: Hold SHORT at 1.1235, TAKE PROFIT 1.0887 (revised), STOP LOSS 1.1140 (revised) GBP/USD: Hold LONG at 1.5710, TAKE PROFIT 1.5930 (revised), STOP LOSS 1.5643 USD/CHF: Hold LONG at 0.9370, TAKE PROFIT 0.9573, STOP LOSS 0.9278 AUD/USD: Hold SHORT at 0.7645, TAKE PROFIT 0.7451, STOP LOSS 0.7739 USD/CAD: Hold LONG at 1.2285, TAKE PROFIT 1.2473 OBJ (revised), STOP LOSS 1.2275 (revised) EUR/GBP: Hold SHORT at 0.7211, TAKE PROFIT 0.6962 (revised), STOP LOSS 0.7079 (revised)...
06/29/2015 - 08:06
By Dmitriy Chernovolov EUR/GBP reached sell target 0.7010 Possible upward correction to 0.7100 EUR/GBP opened this trading week with the sharp downward price gap which brought the price to the support levels 0.7010 (low of the previous primary impulse wave ① which was set as the sell target in our previous forecast for this currency pair) and 0.7000. The price immediately reversed up from these support levels and continues to rise at the time of the writing. EUR/GBP is likely to correct...
06/25/2015 - 07:12
US Dollar Index stands still after the Tuesday’s rally. United States released final Q1 GDP today – the reading as revised to the upside, but confirmed contraction (-0.2% vs. -0.7% prior). Markets await May consumption sector data on Thursday – forecasts are infusing with hope. You should also watch weekly jobless claims and Fed’s Powell and Tarullo members’ speeches tomorrow.  We expect the dollar buying to resume. EUR/USD growth attempts were capped by the 1.1230 mark o Wednesday. Renewed...

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