Category Archives: Majors

7 May: Forecast: FX: US$/Majors + trade ideas

  EURUSD: 1.1962 The US$ briefly headed to new trend highs against the Euro following the mixed US employment report on Friday, with the pair trading in volatile fashion, up to 1.1995 and then down to 1.1910 before a bounce to finish mid-range at 1.1963.  A cautious outlook seems wise at the start of the week with the… Read More »

3 May: Forecast: FX: US$/Majors + trade ideas

  EURUSD: 1.1954 The US$ has headed to new trend highs against the Euro after some choppy trade around 1.2000 following the FOMC announcement,  which saw rates being left rates on hold and with nothing new in the statement. Having fallen sharply from 1.2025, the Euro has reached a low of 1.1935 where important Fibo support is currently… Read More »

2 May: Forecast: FX: US$/Majors + trade ideas

  EURUSD: 1.1992 The dollar is rampant and made further gains on Tuesday, taking out several important levels of support with the Euro under pressure from heavy selling in Sterling after the poor UK data. With the dollar increasingly picking up steam, further losses for the Euro seem likely although it will be today’s FOMC Statement that provides… Read More »

1 May: Forecast: FX: US$/Majors + trade ideas

  EURUSD: 1.2075 The dollar made further gains on Monday, assisted by the weak German Retail Sales which did not help the Euro, and firm US GDP/PCE figures, in reaching 1.2063 but holding above Friday’s low of 1.2055.  It is an EU holiday today so should be quiet although the  ISM Mfg PMI is due later in the… Read More »

30 Apr: Forecast: FX: US$/Majors + trade ideas

  EURUSD: 1.2129 The dollar initially made further gains on Friday assisted by a weak French GDP number and firm US GDP/PCE figures, with EurUsd falling to 1.2055 but then turned higher as profit taking on short Euro positions set in, allowing the pair to recover to 1.2130. Having finished at session highs further corrective gains now look… Read More »

27 Apr: Forecast: FX: US$/Majors + trade ideas

  EURUSD: 1.2104 Having left rates unchanged, the Euro rallied to 1.2210 when Draghi was not as dovish as hoped and produced some short covering but that was as good as it got, and it then turned lower, helped by talk of some month end dollar demand and softer German rates.  The pair is now ending on its… Read More »

26 Apr: Forecast: FX: US$/Majors + trade ideas

    EURUSD: 1.2165 EurUsd traded lower on Wednesday in falling to 1.2160, finishing on its lows and looking very heavy ahead of today’s ECB Meeting, where a dovish Draghi could help it to lower levels still. With US bond yields on the rise, the dollar seems set to retain its current strength and trading from the long… Read More »

24 Apr: Forecast: FX: US$/Majors + trade ideas

  EURUSD: 1.2209 EurUsd traded lower on Monday in falling to 1.2197, under pressure from higher US bond yields and with the Euro not helped by the unimpressive EU PMIs. The IFO will be in focus today, ahead of the US New Home Sales and Richmond Fed Mfg Index 1 hour/4 hour indicators: Mixed. Daily Indicators: Neutral Weekly… Read More »

23 Apr: Forecast: FX: US$/Majors + trade ideas

  EURUSD: 1.2287 EurUsd traded heavily through the Friday session in falling to new 2 week low of 1.2250 – albeit very briefly. It may be a bit choppy to start the week as traders wait on Thursday’s ECB meeting although today’s PMIs may provide some directional trade. Overall though, talk of the ECB waiting until July to… Read More »

20 Apr: Forecast: FX: US$/Majors + trade ideas

  EURUSD: 1.2343 EurUsd had a choppy session on Thursday, largely pushed around by the crosses but a slightly firmer US$ at the end of the session has seen the Euro close back in the daily cloud, with the momentum indicators looking a little heavy. The German March PPI and EU April consumer confidence will be data risks… Read More »