Forex

Any chances of a EURUSD bull breakout, as discussed yesterday, have completely evaporated overnight after a spate of poor European fundamental releases. In particular, the German Retail Sales surprised by posting a dramatic fall of 1.5% versus an expected rise of 0.2%. In addition, Eurozone...

In the last hour, the EURUSD has pieced the ceiling of its downtrend rising to an high of 1.4665. However, it is too early to determine whether this is a true breakout or a fakeout - see chart. The GBPUSD relief rally gained some traction overnight rising to 1.6085 although it is still some...

The EURUSD continues to trade within the confines of its new downtrend and is presently making its way towards the channel’s floor posting 1.4560 - see Chart. The Eurozone registered better than expected data this morning with Consumer Confidence rising to -19 and Economic Confidence climbing to 80...

Late last week, the EURUSD started to form a major reversal pattern by entering a new Bear price channel - see chart. Overnight, increased levels of risk aversion prompted the USD to surge forcing the EUR/USD to a low of 1.4565 before bouncing of its channel bottom to a present value of 1.4650....

  Later this morning, US Durable Goods Orders and US Home Sales for August, both of which are expected to be good, could help the USD recover some of its overnight losses against most of the majors. Earlier today, German IFO business sentiment survey posted a further improvement, albeit...

Yesterday, the USD rallied in response to Fed speak concerning improvements in the economy. However, this movement seems to have been short-lived as the EUR/USD has partially regained its losses overnight and is presently sitting at 1.4760 - see chart. Meanwhile, circulating rumors that the Bank of...

Overnight, the Eurozone posted a weaker Manufacturing PMI at 49.0 versus the expected 49.7 but registered a stronger Industrial Orders rise to 2.6%. The effect on the EURUSD was to produce a mild retreat from 1.4820 to its current 1.4790. Meanwhile, UK releases showed that the Bank of England voted...

The good USD performance yesterday appears now to have just been a relief retracement instead of a more serious reversal. Overnight, the EUR/USD broke through the 1.4800 barrier temporarily relaunching its bullish price channel that has seen it rise from 1.4190 early September to 1.4780 presently...

With no major fundamental releases last night, risk aversion drove the USD higher against most of the other majors with the EUR/USD achieving a low of 1.4640. The biggest loser overnight was the Yen with the USD/YEN now sitting at 92.21. European concerns, that early stimulus removal could force...

The dollar soared out of the gate today. As the dollar moved higher, the markets which had gapped up, started to drop back down towards the flat line. The DOW still trades on the positive side of things but off their highs. If the dollar starts to pull back, you will see this market move higher...

USD strength forced the EUR/USD back from its yesterday year high of 1.4766 to a low point of 1.4650 during the night. In the last couple of hours, this action has been reversed as the following data releases supported by rising European equities pushed the pair back above 1.4700. Germany Producer...

And there is no stopping it! Either the driver is highly experienced or already dead from an heart-attack and the vehicle is on automatic. Everyone is partying, champion corks popping, smoking jackets on; everyone is having a good time. Call me a big girl’s blouse but I got off a couple of stops...

Overnight, the EUR/USD broke through 1.4700 achieving a new yearly high before retreating back to 1.4665 - see chart. However, whether the EURO can sustain its advance against the USD is questionable as it is seriously overbought at present. In addition, concerns are being voiced that the Euro-zone...