Category Archives: A-Post

Don’t let politics interfere with a good trade! Watch the Euro on Monday.

Note that we could be in for some serious volatility early next week once the result of the weekend (Dec 4) Italian referendum on constitutional reforms has been announced. Eight Italian banks face the prospect of failure in the coming months if a “no” vote prevails in Sunday’s referendum, which was proposed by Prime Minister […]

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29 Nov: Month end profit-taking curbs US$ strength. Q3 US GDP revision today

The dollar suffered a substantial correction in Asian trade on Monday, led lower by a selloff in US$Jpy which had become extremely overbought, although we have since seen a turnaround after a supportive economic growth outlook from the OECD. The semi-annual report indicated that Donald Trump is expected to undertake some fiscal stimulus in the […]

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DXY: Some consolidation is due, but longer term outlook remains very bullish #dxy #dollar #fx #forex

DXY: 101.35 The DXY rallied strongly last week, reaching a high of 102.05 before settling at 101.36. In making its move, the index briefly took out the important Fibo resistance seen at 101.80 (61.8% of 121.02 (July 2001 high)/70.72(March 2008 low) and although this will again be difficult to overcome, a sustained move higher could […]

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23 Nov: Markets mixed ahead of US Durable Goods Orders and FOMC Minutes.

Markets have generally traded sideways on Tuesday with the US$ unable to take advantage of the strong U.S. home sales, which rose in October to their highest level in more than 9-1/2 years to an annual rate of 5.6 million in October, the highest level since February 2007. At the same time, the September figure was revised up to 5.49 million from the previously reported 5.47 million units.

The global flash PMIs will be the early focus on Wednesday ahead of a heavy US schedule, which sees the October Durable Goods Orders (exp 1.5%, Ex-Auto; 0.2%), Oct New Home Sales (exp 0.59 mio) and the Michigan Consumer Sentiment Index (exp 91.6). Having got all that out of the way, the FOMC Minutes will …….

22 Nov: US$ mixed as FOMC Minutes come into focus. Sterling higher on positive Brexit headlines.

Currency markets have had a mixed session on Monday, with Sterling the big winner after some slightly more positive Brexit headlines as the UK PM, May hinted at a the chance of a transitional deal with the EU in order to avoid a “cliff edge” for business when Britain’s two-year Brexit negotiating period comes to an end. Elsewhere, the commodity bloc currencies are also a little higher, assisted by a more positive attitude to risk

#EURUSD: Euro under fire from the dollar. Plenty more to come #fx #forex

EURUSD: 1.0587 Resistance Support 1.0758 16 Nov high 1.0585 Major rising trend support 1.0740/45 (23.6% of 1.1282/1.0628) /17 Nov high 1.0568 17 Nov low 1.0695 100 HMA 1.0522 3 Dec 2015 low 1.0660 Minor 1.0500 Minor 1.0640 Minor 1.0462 March 2015 low Bias                                                                                          The dollar’s strong run higher against all its counterparts continued on Friday, […]