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EUR/USD Drifts Lower Despite Low Volume Session

September 2, 2014
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EUR/USD Drifts Lower Despite Low Volume Session

The EUR/USD traded flat-to-lower most of the session on Monday as many traders took to the sidelines because of today’s U.S. bank holiday, Thursday’s European Central Bank announcement and Friday’s U.S. Non-Farm Payrolls report. Until there is fresh news, Euro traders are still going to be reacting to the possibility of additional stimulus by the ECB. A little over a week ago, ECB President Mario Draghi commented that the central bank was open to new forms of stimulus including quantitative easing which tends to weaken a currency. Late last week, the latest Euro Zone inflationary data also indicated that the current means of stimulus are not working which may prompt the central bank to take decisive action later this...

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AUD/USD Forex Technical Analysis – September 2, 2014 Forecast

September 2, 2014
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AUD/USD Forex Technical Analysis – September 2, 2014 Forecast

The AUD/USD closed lower on Monday. Volume was down because of the U.S. holiday. When normal trading conditions return on Tuesday, the market may be under pressure because of the weak close and technical picture. Volume may continue to remain below average this week because of Friday’s U.S. Non-Farm Payrolls report. Daily AUD/USD Monday’s sell-off produced a two-day swing top at .9373. The new main range is .9238 to .9373. The retracement zone target of this range is .9305...

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Euro-Area, Chinese Manufacturing PMI Decline on Various Factors

September 2, 2014
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Euro-area manufacturing activity declined more than expected in August after new orders fell and businesses scaled back investments on escalating conflict in Ukraine. French factory activity declined the most in 15 months. Markit Economics reported that its manufacturing Purchasing Managers’ Index for August was 50.7, the weakest level in over a year, compared with 51.8 in July and the preliminary reading of 50.8. However, the reading stood above 50 point that divides expansion from contraction for the 14th straight...

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EURUSD Weekly Outlook: Technical Breakdowns, Fundamental Drivers – Coming “Sell The News” Bounce?

August 31, 2014
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EURUSD Weekly Outlook: Technical Breakdowns, Fundamental Drivers – Coming “Sell The News” Bounce?

  FX Traders’ weekly EURUSD fundamental technical picture,likely trend, trading range, and drivers The following is a partial summary of the conclusions from the fxempire.com weekly analysts’ meeting in which we cover outlooks for the major pairs for the coming week and beyond. Summary Technical Outlook: Another failed bottoming attempt and...

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EURUSD Weekly Technical Outlook: How Much More Downside?

August 31, 2014
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EURUSD Weekly Technical Outlook: How Much More Downside?

FX Traders’ weekly EURUSD fundamental technical picture, likely trend, trading range, and drivers The following is a partial summary of the conclusions from the fxempire.com weekly analysts’ meeting in which we cover outlooks for the major pairs for the coming week and beyond.   EURUSD Weekly Technical Outlook: Friday Breakdown Negates...

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EURUSD Weekly Fundamental Outlook: Will Likely Drivers Support More Downside?

August 31, 2014
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EURUSD Weekly Fundamental Outlook: Will Likely Drivers Support More Downside?

  FX Traders’ weekly EURUSD fundamental picture, likely trend, trading range, and drivers The following is a partial summary of the conclusions from the fxempire.com weekly analysts’ meeting in which we cover outlooks for the major pairs for the coming week and beyond. Summary Fundamental Outlook Summary: The recent fundamental drivers...

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EUR/USD Mid-Session Technical Update for August 28, 2014

August 29, 2014
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EUR/USD Mid-Session Technical Update for August 28, 2014

Daily EUR/USD Technical Analysis Daily EUR/USD The EUR/USD is trading lower at the mid-session after confirming yesterday’s potentially bullish closing price reversal bottom. The inability to sustain the rally suggests the earlier move may have been short-covering rather than new buying. Based on the short-term range of 1.3432 to...

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US Dollar Index (DX) Futures Technical Analysis – August 28, 2014 Forecast

August 29, 2014
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US Dollar Index (DX) Futures Technical Analysis – August 28, 2014 Forecast

Wednesday’s dramatic closing price reversal top by the September U.S. Dollar Index is a strong indication of a short-term top. It may not be indicative of a change in trend, but it could lead to a sizable correction. A follow-through to the downside today will be a strong indication...

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HDForex Rolls out Dukascopy’s JForex Platform in Georgia

August 29, 2014
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Swiss FX firm Dukascopy Bank has penetrated the Georgian market through its partnership with HDForex, which will launch Dukascopy JForex trading platform on September 1, 2014. HDForex is the retail FX unit of Tbilisi Traders Club LLC. HDForex entered into a partnership with Dukascopy on July 24th this year,...

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Gold Surges on Speculative Buying, Short-Covering

August 27, 2014
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Gold Surges on Speculative Buying, Short-Covering

 December Comex Gold prices surged after two days of consolidation that indicated selling pressure had dried up. The rally was the biggest gain for the market in almost three weeks. Oversold technical conditions and strong support near a two-month low also contributed to the strength. Fundamentally, position-squaring ahead of...

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EUR/USD Mid-Session Technical Analysis for August 26, 2014

August 27, 2014
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EUR/USD Mid-Session Technical Analysis for August 26, 2014

Daily EUR/USD Technical Analysis Daily EUR/USD The main trend is down on the daily chart. The main trend will turn up on a trade through the main top at 1.3432. The EUR/USD is currently walking down an angle from the 1.3432 top, moving at a rate of .002 per...

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MOEX Publishes its Financial Report for the Second Quarter 2014

August 27, 2014
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Russian electronic trading exchange Moscow Exchange published its second quarter 2014 financial results, which showed that operating income rose 3.7 percent, though volumes fell slightly compared to the first half of this year. The revenues grew due to impressive performance in all units, including FX market, depository and settlement...

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NZD/USD Weekly Fundamental Analysis, August 25-29, 2014 Forecast

August 25, 2014
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NZD/USD Weekly Fundamental Analysis, August 25-29, 2014 Forecast

The NZD/USD retreated to its lowest level since early March, changing the main trend to down on the daily chart in the process. Last week’s U.S. Federal Reserve events helped trigger selling pressure. These events included the July minutes that suggested policy makers are moving closer to raising interest...

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EUR/GBP Weekly Fundamental Analysis, August 25-29, 2014 Forecast

August 25, 2014
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EUR/GBP Weekly Fundamental Analysis, August 25-29, 2014 Forecast

The three week-counter rally ended last week when the EUR/GBP posted a lower close. The British Pound received some support last week when according to the Bank of England minutes, two Monetary Policy Committee members voted to raise interest rates. The Euro weakened after rumor surfaced that the ECB...

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EUR/JPY Weekly Fundamental Analysis, August 25-29, 2014 Forecast

August 25, 2014
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EUR/JPY Weekly Fundamental Analysis, August 25-29, 2014 Forecast

The EUR/JPY gained a little ground last week, but for the most part, the trading action was limited. During the early part of the week, trader interest will be focused on the economic activity in the Euro Zone. The preliminary guesses all suggest the Euro Zone is weakening. So...

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US Dollar Index (DX) Futures Technical Analysis – August 22, 2014 Forecast

August 23, 2014
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US Dollar Index (DX) Futures Technical Analysis – August 22, 2014 Forecast

September U.S. Dollar Index futures reached a new contract high on Thursday, but profit-taking and position-squaring ahead of today’s 10:00 a.m. ET speech by Fed Chair Janet Yellen triggered a sell-off and a potentially bearish closing price reversal top. Daily September U.S. Dollar Index The chart pattern will be...

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Dollar Rallies as Yellen Delivers Slightly Hawkish Speech

August 23, 2014
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Dollar Rallies as Yellen Delivers Slightly Hawkish Speech

Following much anticipation, Fed Chair Janet Yellen delivered a speech at the central bankers’ annual meeting at Jackson Hole, Wyoming at 10:00 a.m. ET. In her speech, she cited jobs gains during the five years of economic recovery while noting slack remains in the U.S. labor market. The U.S....

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EUR/USD Mid-Session Technical Analysis for August 22, 2014

August 23, 2014
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EUR/USD Mid-Session Technical Analysis for August 22, 2014

Daily EUR/USD Technical Analysis Daily EUR/USD The EUR/USD started out a little better earlier in the session, but turned around after Fed Chair Janet Yellen delivered her slightly hawkish speech at the Jackson Hole conference. Key resistance continued to be provided by a series of downtrending angles at 1.3320,...

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EUR/USD Mid-Session Technical Analysis for August 20, 2014

August 21, 2014
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EUR/USD Mid-Session Technical Analysis for August 20, 2014

Daily EUR/USD Technical Analysis Daily EUR/USD The EUR/USD continued to break on Wednesday. The downside momentum was strong enough today to take out the November 2013 bottom at 1.3295. The increased selling pressure has put the market in a position to test a downtrending angle from the 1.3432 top...

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AUD/USD Forex Technical Analysis – August 21, 2014 Forecast

August 21, 2014
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AUD/USD Forex Technical Analysis – August 21, 2014 Forecast

The AUD/USD took a hit on Wednesday after U.S. Federal Reserve minutes indicated FOMC members talked at their last meeting about hiking interest rates sooner than anticipated. The minutes indicated that policy makers debated at their July meeting whether to move faster than expected to start raising interest rates...

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