Category Archives: Majors

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 »

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

  EURUSD: 1.1750 €/Usd has traded a choppy 1.1818/1.1750 range on Friday, initially heading higher but then ending on the lows, with the dollar underpinned by the hopes at the tax bill will soon be passed. 1 hour/4 hour indicators: Neutral Daily Indicators: Turning lower Weekly Indicators:  Neutral Preferred Strategy:  For now I prefer to remain short Euro… Read More »

15 Dec: Forecast: FX: US$/Majors + trade ideas

  EURUSD: 1.1792 €/Usd has traded a choppy range of 1.1860/1.1770 on Thursday,  after the ECB left rates on hold, with Draghi’s upbeat Press Conference sending the Euro briefly to its highs before the dollar strengthened after the strong RS/jobs data, closing at familiar territory, just under 1.1800. 1 hour/4 hour indicators: Turning higher Daily Indicators: Turning lower… Read More »

14 Dec: Forecast: FX: US$/Majors + trade ideas

  EURUSD: 1.1825 €/Usd has traded a 1.1728/1.1830 range on Wednesday, sitting at the highs at the time of writing, with the dollar generally under pressure following the FOMC Meeting. We now await the ECB, BOE, SNB as well as the PMIs, US Retail Sales. 1 hour/4 hour indicators: Turning higher Daily Indicators: Turning lower Weekly Indicators:  Neutral… Read More »