Canadian GDP could provide further fuel to the bullish USDCAD if it falls short of 0.3% tonight. GDP has been expanding (slowly) for the past 4-month with the rate of acceleration declining. A positive number could see some profit taking and retracement on USDCAD but the trend remains increasingly bullish. The Daily pivot is an […]

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1. Keep calm and taper on! As indicated in their previous monetary policy meeting minutes, the FOMC plans to keep up its pace of reducing bond purchases by $10 billion each month, eventually ending stimulus by October this year. This should bring their asset purchases down to $25 billion, comprised of $15 billion in longer-dated […]

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The kiwi dollar has taken a beating in the last few weeks. There are good reasons for this, with dairy products at the top of the list, and now it looks like it has one more level to test before a breakout will spell an end to the high 80's for a while.   At […]

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GBPUSD: Seeking bearish setups below 1.70   NZDUSD: Chance for one more dip lower?   USDJPY: Holds near the highs with support at 1.067   GBPAUD channel and daily hammer Bounce or break? GBP/AUD has sold off pretty quickly in the past few days, as price is about to test the bottom of the rising […]

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The Euro has certainly felt the effects of these disappointing results over the course of this year, and the bullish trend line was a casualty. With the stimulus package released in June, the European Central Bank (ECB) will be hoping this will filter through to the PMI indicators. If they are on the downside of […]

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EURUSD aims for 1.3400 and 1.3375 targets next We see negative pressures from the late Friday spike down through the 1.3503 low and previous break below firm support at 1.3575 for still further erosion this week. We now see risk to chart and retrace supports at 1.3400 and 1.3375 respectively. Overshoot threat is now to […]

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EURUSD The Euro continues to trade in consolidative mode above 1.35 base / main bull-trendline off 1.2042 low, strong support which was cracked last Friday, on a spike lower to 1.3489. The pair failed to sustain break and entered narrow–range sideways trade, after limited recovery attempt, being capped at 1.3547, Fibonacci 38.2% retracement of 1.3639/1.3489 […]

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  The closely watched 1.50 level finally gave way last Friday, only to see it bounce aggressively back above to produce a Bullish Hammer. This spike low could be taken as the first clue to near-term strength, but going into today's European open we can also see that price has broken above 1.354 resistance and […]

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Recent events on the global stage have shocked the international community and the markets reacted accordingly. Oil is no different, however, from a technical point of view it looks like it has met resistance and could bounce lower.   The deplorable act of shooting down a civilian Malaysian Airlines plane by pro-Russian rebels in Ukraine […]

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EUR/USD is gradually nearing the 1.3503/1.3477 support area. For now, we don't see a clear trigger for EUR/USD to break this important support. Even so, the downside momentum of EUR/USD and EUR/JPY clearly strengthened of late. So there is no reason to row against the tide. EURUSD 4 Hours The break out of the triangle […]

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