Category Archives: Majors

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

  EURUSD: 1.1814 Preferred Strategy:   EurUsd is slightly firmer today, having traded up to 1.1817 ,closing at session highs as we now wait on today’s ECB meeting and the degree/duration of any tapering that Mario Draghi could announce at the press conference. Technically, there is once again little change. The major Head/Shoulder formation still seems to be under… Read More »

25 Oct: Forecast: FX: US$/Majors + trade ideas

  EURUSD: 1.1762 Preferred Strategy:   EurUsd has had a choppy session, well underpinned at around 1.1740, and briefly shooting up to 1.1790, but closing in the middle of the range and leaving the outlook unchanged. The IFO and the US Durable Goods Orders will be the main events today, along with the usual headlines coming from the White… Read More »

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

  EURUSD: 1.1748 Preferred Strategy:    EurUsd is heavy but remains within the middle of the day’s range (1.1725/75) and more of the same seems possible today although the PMIs could produce something directional. Otherwise traders will likely wait for Thursday’s ECB Meeting for guidance, with Mario Draghi’s press conference likely to be the main focus of the week,… Read More »

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

  EURUSD: 1.1779   Preferred Strategy:    EurUsd was choppy but headed lower into the close on Friday with headlines over the possibility of Trump appointing Powell or Taylor to the Fed underpinning both yields and the dollar. This week will look to the PMIs and then to Thursday’s ECB Meeting for guidance, with Mario Draghi’s press conference likely… Read More »

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

  EURUSD: 1.1849 Preferred Strategy:   EurUsd was choppy on Thursday but after an early Catalonian related selloff, the Euro has ended higher, trading up to a high of 1.1857, underpinned by softer US Treasury yields.  The momentum indicators do look mildly supportive of the Euro and as we said before, if we do see a topside squeeze, the… Read More »

19 Oct: Forecast: FX: US$/Majors + trade ideas

  EURUSD: 1.1787 Preferred Strategy:  The Euro remained heavy through Europe, dropping to 1.1729 ahead of a bounce that sees it close near session highs of 1.1804. A close above 1.1800 would have meant a bullish outside day but this has just been avoided and keeps the bearish outlook intact.  If we do see another topside squeeze, the… Read More »

18 Oct: Forecast: FX: US$/Majors + trade ideas

  EURUSD: 1.1766 Preferred Strategy:  The Euro has bounced from its lows and in the short term we could see a squeeze back towards 1.1800 although the 4 hour charts remain heavy and any near term rally would seem to be a sell opportunity for another move to the 1.1735 lows, and then possibly to test 1.1700 and… Read More »

16 Oct: Forecast: FX: US$/Majors

  EURUSD: 1.1820 Preferred Strategy:  EurUsd was choppy within the tight 1.1800/75 range on Friday but ended up going nowhere, leaving the outlook a little cloudy at the start of the week. The bigger picture still seems to be building a head/shoulder top, so I do prefer an eventual run lower but in the meantime the current conditions… Read More »

13 Oct: Forecast: FX: US$/Majors

  EURUSD: 1.1829 Preferred Strategy:  EurUsd is steady ahead of today’s release of the US inflation figures after having tested the neckline of the head/shoulder by reaching 1.1879. A soft inflation reading today would see the dollar come under pressure and would then take out the stops above the neckline and would see the Euro head towards 1.1900/1.2000.… Read More »

12 Oct: Forecast: FX: US$/Majors

  EURUSD: 1.1863 Preferred Strategy:  The US$ remains under pressure following the FOMC Minutes, with the next directional move likely to come via tomorrow’s CPI figure. In the meantime, the momentum indicators are looking quite positive for the Euro, with the dailies are now pointing a little higher, suggesting that the downside will again be rather limited today.… Read More »