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AUDUSD - Faces Consolidation Risk
AUDUSD We continue to maintain our consolidation view on the pair as it faces price hesitation. It remains trapped in a range. On the upside, resistance resides at the 0.8840 level where a breach will aim at the 0.8900 level. Above that level will set the stage for a

North American Wrap: What Downtrend?
North American markets were all in a tizzy last week as it seemed everything was crashing down around us simultaneously. Ebola was scary, ISIL was belligerent, Oil was bottoming out, and US data was missing expectations. RUN! Well, nary a week later, markets have rebounded from the lows and everyone

Did Last Week Mark The Near-Term Panic Low In The DJIA?
According to Web MD, some of the symptoms of panic attacks include 'a racing heart, a sense of terror, and feeling unreal or detached from your surroundings' among others. While not nearly as serious as an actual panic attack, last week's stock market rollercoaster likely caused most traders to display

USD/CHF: Approaching Confluence
Markets are in a bit of a better mood this morning as virtually all of the major equity indexes around the world either closed in the green or are currently levitating healthily in that area with the lone exception being the Japanese Nikkei index that closed down over 2%. The

Silver: Temporary Respite Or Start Of A Recovery?
Given the strong recovery in the stock markets and the firmer dollar, precious metals are holding up remarkably well today. Yesterday we looked at gold, which was chipping away at the key $1240/5 resistance area. Today, the yellow metal has continued to push higher and is currently holding above its

Stocks Rip Higher Again On The Back Of More Rumours Of Monetary Easing, Aussie Fails
As readers know my sense is that the key to the recovery has been the changed perceptions about growth and interest rates. Fed Chair Yellen allowed a leak to say she still though growth was going to be okay and then it became clear via more than one Fed President

Trade Idea Wrap-up: USD/CHF - Hold short entered at 0.9480

The greenback has rebounded after holding above minor support at 0.9396, retaining our view that further consolidation would be seen, however, still reckon resistance at 0.9491 would limit upside and bring another fall, break of said support at 0.9396 would signal recent decline from 0.9690 top has resumed for retest

Trade Idea Wrap-up: GBP/USD - Buy at 1.6060 or sell at 1.6220

Although cable has retreated after intra-day rise to 1.6184 and consolidation below this level is seen with mild downside bias for test of the upper Kumo (now at 1.6111), reckon the lower Kumo (now at 1.6059) would limit downside and bring another rise later. Above said resistance at 1.6184 would

Trade Idea Wrap-up: EUR/USD - Stand aside

Despite intra-day initial rebound to 1.2840, as the single currency has retreated after faltering below indicated resistance at 1.2845-50, retaining our view that further consolidation within near term established range would be seen and the breach of yesterday's low at 1.2731 suggests near term downside risk remains for weakness towards

Trade Idea Wrap-up: USD/JPY - Hold long entered at 106.40

The greenback found support at 106.25 and has rebounded, retaining our bullishness and consolidation with upside bias is seen for test of 107.00-05, above there would signal the retreat from yesterday's high of 107.39 has ended there, bring test of this level. Looking ahead, only break of resistance at 107.50

Trade Idea: EUR/GBP - Sell at 0.7980

As the single currency has retreated sharply after rising to 0.8047 last week, suggesting the a leg of the correction from 0.7766 low has ended there and consolidation with mild downside bias is seen for retracement of the rise from 0.7766 in wave b, hence bearishness is seen for weakness

Trade Idea: USD/CAD - Buy at 1.1100

As the greenback has retreated after rising to 1.1366 last week, retaining our view that consolidation below this level would be seen and pullback to 1.1180-90 cannot be ruled out, however, price should stay above previous support at 1.1082 and bring another rise later, above said resistance at 1.1366 would

NZDUSD: All Eyes on .8000
As my colleague Chris Tedder noted earlier today, the big news in today's Asian session was undoubtedly China's quarterly data dump. The marquee GDP report came out 0.1% better than expected at 7.3% y/y, but this reading still represents a 5-year low for growth in the world's second-largest economy. However,

USD/CAD - Canadian Dollar Strengthens, US Housing Data Jumps
The Canadian dollar has posted gains on Tuesday, as USD/CAD trades in the low-1.12 range in the North American session. On the release front, it’s a very quiet day, with no Canadian events on the schedule. In the US, the sole release was Existing House Sales. The important indicator climbed

AUD/USD - Aussie on the Move Despite Flak From RBA
The Australian dollar continues to post gains on Tuesday, as AUD/USD is trading above the 0.88 line. On the release front, the RBA minutes said that the Australian dollar was overvalued. Later in the day, we'll get a look at two minor events, MI Leading Index and CB Leading Index.

US Session: Orders and Options Watch
EUR: The single currency dropped today in European session, bids at 1.2815-20, 1.2800, 1.2780-85, 1.2770, 1.2750 and 1.2725-35 were filled, more buy orders are located at 1.2700, 1.2675-80 and 1.2650. On the upside, offers are lowered to 1.2775-80, 1.2800 and in good size at 1.2840-50, more sell orders are located

Trade Idea Update: USD/CHF - Sell at 0.9480

The greenback has rebounded after holding above minor support at 0.9396, retaining our view that further consolidation would be seen, however, still reckon resistance at 0.9491 would limit upside and bring another fall, break of said support would signal recent decline from 0.9690 top has resumed for retest of 0.9360

Trade Idea Update: GBP/USD - Buy at 1.6060 or sell at 1.6220

Although cable has risen again today, loss of near term upward momentum should prevent sharp move beyond 1.6190-00 and bring retreat later, below the Kijun-Sen (now at 1.6132) would bring test of yesterday's low at 1.6080, however, reckon 1.6030-34 (previous support and current level of the Ichimoku cloud bottom) would

Trade Idea Update: EUR/USD - Stand aside

Despite intra-day rebound to 1.2840, as the single currency has retreated after faltering below indicated resistance at 1.2845-50, retaining our view that further consolidation within near term established range would be seen and weakness to yesterday's low of 1.2731 cannot be ruled out, however, reckon support at 1.2706 would limit

EURUSD: Will the Downtrend Resume?
Despite the Eurodollar commencing the European session by moving as high as 1.2839, the pair once again found resistance around 1.2840. Since then, the pair has unexpectedly pulled back by 80 pips and is currently trading at 1.2749 at the time of writing. The sudden decline in the pair occurred

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