Tag Archives: USD/CAD
Technical Analysis – FX Daily Majors
Today’s highlights: EURUSD: Eyeing Head & Shoulders neckline, 1.3030; below targets 1.2805. USDJPY: Forceful Friday plunge through 81.96/83 support keeps correction risk still lower through 81.07 retrace level to our 80.58 target.
Technical Analysis – FX Daily Majors
___________________________________________________ Trade on currency with CMC Markets – Trusted FX Brokers ___________________________________________________ Today’s highlights: EURUSD: Short-term top enhanced and a more defensive sideways theme below 1.3134. Head & Shoulders top risks are resurrecting, needing a break of the “neckline”, 1.3025. GBPUSD: Small top/short-term bear reversal (back from 1.6090 barrier) reinforced with prod at 1.5842. Sideways […]
Technical Analysis – FX Daily Majors
Today’s highlights: · GBPUSD: Prod to a new Q1 recovery peak (through 1.5991) to open the door to the Q4 high at 1.6167 (interim hurdle 1.6090). · EURUSD: Digestion setback, but prior break above 1.3292/94 intact for a constructive bias to aim up to the 1.3487/3510 major resistance cluster.
Daily FX Technical Strategy: US Dollar dip helps prop up commodity currencies
Commodity prices are benefiting from the near-term dip in the US dollar. Brent crude has broken bullishly from its contracting range and copper looks set to follow suit, with a similar bullish set-up confirmed on a break above 8660. On the back of this, commodity currencies are also turning positive within range.
Technical Analysis – FX Daily Majors
Today’s highlights: · EURUSD: Clear break above 1.3292/94 negates any defensive bias for a more constructive tone, with risk to the 1.3487/3510 major resistance · GBPUSD: Eyes the Q1 recovery peak at 1.5991, through which opens the door to the Q4 (near 7-month) high, 1.6167 (interim hurdle 1.6090)
Americas FX Daily – USD gives back gains as risk stabilizes
USD gives back gains as risk stabilizes What happened overnight – French business confidence a bit better than expected – PBoC fixed USDCNY to new record low of 6.2891 – Fed’s Bullard sounds a hawkish note
Technical Analysis – FX Daily Majors
Today’s highlights: · USDJPY: Small “Double Top” through 83.01 favours defensive consolidation with risk down to 81.96 (which we look to hold), before next leg higher (to 85.54).
Daily FX Technical Strategy – Kiwi takes flight
The combination of a slightly stronger USD and slightly weaker stock markets has undermined base metal prices and aluminium in particular. In FX markets, commodity currencies reflect this developing risk-off theme.
Daily FX Technical Strategy – USD upside potential
Last week was a good one for the dollar as the USD Index posted a reversal week against important retracement levels. The implication is that the 2012 downtrend is over and further USD strength should be expected this week.
Technical Analysis – FX Daily Majors
Today’s highlights: · DXY: Through trend resistance from the 2011 peak with risk to the 55-DMA, 79.69. A close above would aim through the mid-Q1 spike high 80.12, closer to topping barriers, 80.50/70 (threat to 2012 peak, 81.78)
Currency Weekly: FX and oil: Drilling down to what actually happens
Rather than look at how economics suggests FX “should” behave when oil prices rise, we examine how FX “has” behaved in the past. Oil producers are the winners. However, one might have expected all “risk on” currencies to suffer and safe haven FX to thrive with lower equities.
Measuring and analyzing positioning, flows and trends in the FX market
More active bets on falling JPY and less so on GBP The IMM data for the period 15-21 Feb revealed: The JPY net speculative long position fell further but was this time driven by added short contracts and not by reduced long contracts as was the case last week.