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The S&P500 index keeps its movement above 2700 even though we see a drop in the stock markets in the developing country, and the S & P500 index keeps its movement above 2700. In the United States, the balance sheets will be followed. Relatively high volatility can be expected. The technical side is close to the rising resistance of the channel. (click on the chart for detail) 2747.5 technical side can be followed as an important support.
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EURo jumps on ECB rumours
There was a report yesterday from undisclosed ECB sources that the bank is considering tapering its QE program. The report was later denied by the bank's president Draghi, who said that tapering wasn't discussed.
The euro jumped about 80 pips on the report, to the upper part of its four-week range between 1.1125 and 1.1275. The pair is trading in a more broader triangle pattern with the support around 1.11 and the resistance near 1.13.
The euro jumped about 80 pips on the report, to the upper part of its four-week range between 1.1125 and 1.1275. The pair is trading in a more broader triangle pattern with the support around 1.11 and the resistance near 1.13.
EURo to Weaken Toward the 1.0500 Level
Brexit wasn't kind to the Euro. The pair got sold aggressively after the UK voted to leave the EU. The reaction was partially because this will result in more easing by the ECB as well as calls for referendums in other countries in the Union.
But aside from the fundamentals and the short-term charts, things are not looking better on the long-term charts either. On the daily chart below we can see that the pair broke the important support near 1.1100 on Brexit. This level held up prices for over …
But aside from the fundamentals and the short-term charts, things are not looking better on the long-term charts either. On the daily chart below we can see that the pair broke the important support near 1.1100 on Brexit. This level held up prices for over …
ECB a disappointing story
I'm not sure about everyone else but I wasn't expected ECB not to upgrade their QE program from 60B euro to at least 75B euros. This was a big disappointment even for the market itself as the build up in expectation ahead of the meeting was quite huge. Based on the latest COT report the net speculative short position ahead of the meeting where as high as they where in March when again happened to get a swing low. It never chase to amaze me how accurate this can be use as an contrarian indicator,…
EURo skyrockets as ECB fails to deliver
ECB cut the deposit rate to -0.30% (from -0.20%) and extended QE program to March 2017 (from September 2016) which was well short of expectations. Given the reaction it seems that the market might have been pricing in a cut to -0.40% and an expansion of QE.
Long term trendline, which connects 1985, 2000 and 2015 lows, held once again. 450+ pip rally stalled ahead of 50 DMA and 50.0% retracement of the last downswing. We'll see what the Fed will do but parity party seems ever more elusive.
Long term trendline, which connects 1985, 2000 and 2015 lows, held once again. 450+ pip rally stalled ahead of 50 DMA and 50.0% retracement of the last downswing. We'll see what the Fed will do but parity party seems ever more elusive.
Last month of the year
Since this is the last month of the year it will be your last chance to make up for the year but at the same time it can break you out as this month looks quite heavy in terms of macro data and big monetary policy decision across the FX landscape. The seasonality patterns during an environment which looks to be under the influence of mainly the monetary policy as the main driver of FX price can be altered.
Make no mistake about it but both ECB action this week to upgrade their QE program will ha…
Make no mistake about it but both ECB action this week to upgrade their QE program will ha…
December Fed Liftoff anf ECB Upgrade QE
The final two months of the year are going to be very interesting not just in the fact that we have strong seasonality at play but more because the fundamental themes are going to play an even major role. If Fed does indeed hike the interest rates, which was my thesis from beginning of this summer because if you look at all of the other major monetary policy changes Fed has a thing to do them around December see QE, tapering etc.
If that would be the case coupled with ECB taking action and upgra…
If that would be the case coupled with ECB taking action and upgra…
Swissie piggybacks on Euro weakness
ECB were very dovish at their yesterday's meeting, where they signaled that they may act as early as in December. While expansion and extension of the current QE program was always a possibility, cuts to the deposit rate are back on the table despite -0.20% was often cited as a lower bound.
The most affected pair was, of course, the Euro but the Swisse took advantage of broader US dollar strength that came in the aftermath of the decision. The pair is now back above 50 DMA with September (~0.984…
The most affected pair was, of course, the Euro but the Swisse took advantage of broader US dollar strength that came in the aftermath of the decision. The pair is now back above 50 DMA with September (~0.984…
October Fx Market Outlook
In this article we’re going to look at both the technical setup as well as the fundamental themes that have been dictating the movements in the FX Market for the month of September and what’s going to drive the market forward in the coming month. The fact that we haven’t been able to see a rally in the equity market and a continuous decline in the US Dollar it tells us that something significant is happening, and that is a shift in the belief of monetary policy and its influences over the marke…
I remain in favour of further consolidation
Currency Pair:Eur/Aud
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 1.5145
Trend:uptrend
Possible trading range:1.45-1.55
Signals: On both weekly and daily chart there are two bullish patterns ( inverted head and shoulders and double bottom) which are under way
Fundamentals:The near term data coming out of aussie's territory has continued to strengthen. On the other side the euro received mix data and will remain under pressure as long as the QE is still on the tabl…
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 1.5145
Trend:uptrend
Possible trading range:1.45-1.55
Signals: On both weekly and daily chart there are two bullish patterns ( inverted head and shoulders and double bottom) which are under way
Fundamentals:The near term data coming out of aussie's territory has continued to strengthen. On the other side the euro received mix data and will remain under pressure as long as the QE is still on the tabl…