Category Archives: Majors

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

  EURUSD: 1.2398 EurUsd has soared to a high of 1.2414 on the back of the positive PMIs and on Mnuchin’s comments in talking down the dollar. Further losses look likely for the dollar. 1 hour/4 hour indicators: Turning higher – Becoming Overbought Daily Indicators: Up Weekly Indicators:  Turning higher Preferred Strategy:  Mnuchin’s comments undermined the dollar, sending… Read More »

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

    EURUSD: 1.2299 EurUsd made some minor gains in reaching a high of 1.2305 in EU/NY trade, but then gave up on the topside and has spent the rest of the day consolidating its recent gains while waiting on tomorrow’s ECB meeting, and ahead of that, today’s PMIs. 1 hour/4 hour indicators: Neutral Daily Indicators: Up Weekly… Read More »

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

  US$ is mixed but remains under pressure after US Senate resolved Govt shutdown. EUR underpinned, assisted by Spain upgrade from Fitch. Cable at new highs after Macron hints on Brexit deal. EUR/GBP cracks below 200 DMA. Central bank meetings ahead, with expectations for BOJ (today), ECB (Thur) to make a rhetorical shift in their outlook although no… Read More »

22 Jan: Forecast: FX: US$/Majors + trade ideas

The US$ is opening the inter-bank market on a slightly softer note, creating a minor chart gap on various pairs. Today’s direction will take its cue from how talks progress in the US Senate to resolve the issue of the Government shutdown. EURUSD: 1.2218 EurUsd saw a brief spike to 1.2295 on Friday but then slid steadily lower,… Read More »

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

    EURUSD: 1.2212 EurUsd  has chopped sideways since taking out stops in Asia yesterday, confined pretty much to a 1.2200/80 range through the Europe/US sessions but closing near the lows as US bond yields climber higher, putting a bid tone under the dollar. 1 hour/4 hour indicators: Neutral Daily Indicators: Up Weekly Indicators:  Turning higher Preferred Strategy: … Read More »

9 Jan: Forecast: FX: US$/Majors + trade ideas

    EURUSD: 1.1965 €/Usd has traded lower on Monday, falling to the Fibo support at 1.1960 in seeing a low of 1.1955. The recent move higher does seem to be running out of steam and while the momentum indicators are mixed, a move towards 1.1900/1.1885 would not now really surprise, with the 9 month rising trend support… Read More »

8 Jan: Forecast: FX: US$/Majors + trade ideas

  EURUSD: 1.2029 €/Usd has traded sideways, in choppy trade on Friday following the NFP reading, confined to a 1.2020/82 range and with more of the same looking likely early in the week. The dailies still look positive though and if we can take out the 8 Sept high of 1.2098 it would then open up the chance… Read More »

4 Jan: Forecast: FX: US$/Majors + trade ideas

  EURUSD: 1.2011 €/Usd has traded lower on Wednesday albeit it within a tight 1.0265/1.2000 range. While the short term momentum indicators now look heavy, the daily charts still look constructive and seem to suggest an eventual move for a retest of yesterday’s 1.2080 high and beyond, towards the 8 Sept high of 1.2098, a break of which,… Read More »

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

  EURUSD: 1.2061 €/Usd has traded up to a new trend high of 1.2081 before retreating as US yields began to underpin the dollar and  it has since traded a choppy range above what is now minor support at 1.2025. The charts look constructive and the dailies seem to suggest a move to test the 8 Sept high… Read More »

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

  EURUSD: 1.2010 €/Usd has traded up to a high of 1.2025 over the holiday and although it looks a little toppish in early trade on Tuesday, the dailies seem to suggest a move, at some stage, to test the 20 September high (1.2033) and even the 8 Sept high of 1.2098. Beyond there would then open up… Read More »