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This Week: Suit Up, Strap In, And Be Dollar Ready
Last week saw global markets fluctuate between corporate earning's and geopolitical conflicts. There was an excess of negative news out of Israel and eastern Ukraine, with each regions headline's countering much of the decent US and Euro quarterly earnings reports. On the whole, the reports were relatively good, despite the

Gold Kicks Off Week With A Whimper
In the US, a mostly positive week ended on a high note, as durable goods data exceeded expectations. Core Durable Goods Orders jumped 0.8%, beating the estimate of 0.6%, and rebounding nicely from a decline of 0.1% in May. Durable Goods Orders followed suit, posting a gain of 0.7%, compared

European Market Update: Ukraine Situation Continues To Casts Shadow On Europe
Number of central bank policy meetings out later in the week. ECB and BOE monetary policies were likely to diverge. Key data out of the US this week includes including Q2 Advance GDP figures and July Non-Farm payrolls. Dealers were pondering whether strong economic data from the US would be

Stoxx 600 Swings To Losses Amid Corporate Earnings, Geopolitics Drag
Most of the European equities saw a negative performance early Monday, amid corporate results and Chinese data, while traders continued to eye the situation in both Gaza strip and Ukraine. As of 04:05 a.m. ET, the Stoxx 600 fell 0.13% to 341.50, shaving earlier gains as shares of consumer services

Trade Idea Update: USD/CHF - Buy at 0.8980

Last week's rally together with the breach of previous resistance at 0.9037 add credence to our bullish view that recent erratic rise from 0.8699 low is still in progress and may extend gain to 0.9060-65, however, loss of upward momentum should prevent sharp move beyond resistance at 0.9082, price should

Trade Idea Update: GBP/USD - Sell at 1.7050

As cable has recovered after Friday's marginal fall to 1.6961, suggesting minor consolidation would be seen and corrective bounce to 1.7000 cannot be ruled out, however, reckon 1.7050-55 would limit upside and bring another decline later, a break of said support would extend the fall from 1.7192 for retracement of

Trade Idea Update: EUR/USD - Buy at 1.3400

As the single currency has remained under pressure after dropping quite sharply on Friday, retaining our view that near term downside risk remains for the decline from 1.3993 top to extend weakness towards 1.3395-00, however, loss of downward momentum should prevent sharp fall below there and bring rebound later, above

Trade Idea Update: USD/JPY - Hold short entered at 101.70

As the greenback has maintained a firm undertone after breaking previous resistance at 101.86, suggesting caution on our near term bearishness and 102.00 needs to hold to retain prospect of another retreat later, below 101.55-60 would bring test of 101.32 support, break there would signal the rebound from 101.09 has

Forex Technical Analysis
Last week's uptrend has been corrected with the minor pullback below 101.85 and now the upmove is renewed, for a break through 102.25, en route to 102.80. Key static support lies at 101.60.

USD/JPY Elliott Wave Analysis

Dollar's rebound after holding above support at 101.07 has retained our view that further consolidation would be seen, however, break of resistance at 102.27 is needed to signal the fall from 102.80 has ended and bring another test of this level, a daily close above there would confirm the decline

FX Driven By Technicals Pre-FOMC, NFPs
The FX markets start the week in quiet fashion. Important data/event will drive the markets in the second half of the week; the US will be in the center of attention with second quarter GDP estimate and the FOMC decision on Wednesday, followed by July nonfarm payrolls and unemployment rate

EUR/USD Elliott Wave Analysis

The single currency dropped again after meeting renewed selling interest at 1.3549 earlier last week and broke below indicated support at 1.3477, adding credence to our view that top has been formed at 1.3993 and the decline from there is still in progress and bearishness remains for at least a

EUR/USD – Unchanged As Dollar Remains Firm
EUR/USD is unchanged on Monday, as the pair trades quietly in the mid-1.34 range in the European session. On the release front, it's a very quiet start to the week, with just two releases out of the US, highlighted by Pending Home Sales. There are no Eurozone releases on Monday.

EUR/USD – Unchanged As Dollar Remains Firm
EUR/USD is unchanged on Monday, as the pair trades quietly in the mid-1.34 range in the European session. On the release front, it's a very quiet start to the week, with just two releases out of the US, highlighted by Pending Home Sales. There are no Eurozone releases on Monday.

Today's Market Outlook
The Euro remains negative and extends the third wave which commenced from 1.3699, 01 July lower top. The pair so far met its target at 1.3620, Fibonacci 138.2% expansion, above which near-term price action stabilizes within narrow range. The second week closing in red, confirms negative structure and favors further

USDCHF Elliott Wave Analysis: Ending Diagonal Suggests For Bullish Move
USDCHF bounced sharply from the lows few months back, and it seems that this bullish legs will now continue as latest retracement from the highs has unfolded in a corrective manner. We would not be surprised to see a rally through 0.9080 this summer and acceleration up to 0.9400 as

EUR/GBP Daily Outlook
Intraday bias in EUR/GBP remains neutral for the moment. Considering bullish convergence condition in 4 hours MACD and daily MACD, break of 0.7980 resistance will firstly confirm short term bottoming. Secondly, the larger down trend could have reversed too. In such case, near term outlook will be turned bullish for

IMM Positioning: EUR Shorts At Stretched Levels But Trend Intact
Speculators increased their short EUR positioning to the highest level since November 2012, in absolute terms. As of Tuesday 22 July, speculators were net short EUR 26.2% of open interest. Short EUR positioning has reached the 11 percentile, which indicates positioning is at stretched levels. Short EUR positioning has accelerated

Technical Analysis for Major Currencies
Friday's long bearish candle confirms the ongoing downside pressure on the pair since the breakout below 23.6% correction at 1.3525. Trading below this level will push the pair lower to test 1.3375 areas. This week, a breakout below 1.3375 is needed to confirm the extension of the downside move toward 61.8% correction at 1.3230.

Technical Analysis for Crosses
The pair continues to trade within a tight range between trend defining levels at 172.50 support and 174.25 resistance. Therefore, we will observe the pair at those levels closely. A breakout below the support will pressure the pair toward the 170.00 areas and a breach of the resistance will open

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