#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, […]

#AUDUSD: Commodity bloc currencies in trouble. Aud$ no exception #fx #forex #trading

AUDUSD: 0.7334 Resistance Support 0.7450 Minor 0.7335/30 Weekly cloud base/Friday low 0.7435 (23.6% of 7777/0.7330) 0.7300 Minor 0.7410/17 Weekly cloud top/Friday high 0.7288/84 (76.4% of 0.7144/0.7834)/16 June low 0.7400 Minor 0.7217 31 May low 0.7365 Minor 0.7200 (76.4% of 6006/1.1080) Bias The Aud took another heavy hit on Friday, falling to 0.7330 where the weekly […]

#NZDUSD: Kiwi holding 0.7000 but seems to have plenty of downside #fx #forex #trading

NZDUSD: 0.7007 Resistance Support 0.7140 14 Nov high 0.7015/12 200 DMA 0.7110 (23.6% of 0.7401/0.7035) 0.7000 Friday low 0.7090 Minor 0.6951 21 July low 0.7060 Head Shoulder Neckline 0.6933 (50% pivot of 0.7743/0.7485) 0.7040 Minor 0.6915 (50% pivot of 0.6345/0.7485) Bias  The Kiwi remained heavy heading onto the weekend, although it was more resilient than […]

21 Nov: US$ rules! Plenty more come. Market now looking to the FOMC Minutes (Wed) for guidance.

The US$ continued its relentless run higher on Friday as the markets price in the near certainty of a December Fed rate hike, with the Dollar index reaching 101.48, the highest level in 23 years, before drifting a little lower as profit taking set in ahead of the weekend. Following on from Janet Yellen’s hint on Thursday of an imminent hike, St. Louis Fed president James Bullard (recently dovish in outlook) seemed to underline her comments by saying that “markets are currently pricing in a high probability of a December move and I am leaning toward supporting that”. The dollar had already made its move for the day, led by the Yen which remains under heavy pressure but with the EU majors and the Aud also showing weakness, with technical signs of plenty……………..

18 November Trend Table

Trending table The products marked in red/green mark suggest a longer term trend, where the dailies are aligned (or seem to be aligning with) with the weekly indicators. The shorter term (1+4 hours) momentum indicators may also be aligned with the longer term charts, but more likely will suggest a buy or sell level on a pull back.… Read More »

18 Nov: US$, stocks underpinned as Yellen signals a rate hike coming soon.

The dollar remains firm heading into Friday as the market digests the comments of Janet Yellen, who was testifying to Congress, and who said that the Fed could raise interest rates “relatively soon” , adding that the Fed is prepared to adjust its outlook as the new Trump administration takes shape.

Friday will mostly be about central bank speakers, with not a lot else to go on. ECB Governor, Mario Draghi will lead things off ahead of the Fed’s Bullard and George, and the BUBA’s Weidmann. It could therefore be a……

17 Nov: US$ still in demand ahead of a heavy day of data. EU/US CPI in focus.

The US$ is firm at the end of Wednesday trade although off its highs after the dollar index (DXY) briefly broke above the December 2015 high of 100.51 to make a 13 year high at 100.53. It is a little lower going into the US session close, but a strong CPI reading due later today could be the catalyst to provide renewed momentum data to carry the dollar to new highs. As for the Wednesday session……..

New FXCharts site coming soon

We are making some significant changes to the FXCharts site to bring everything up to date and add some new content for a changing market. Don’t worry about losing the regular daily market report, that will remain and will continue to be our flagship item but we will be adding new content, not just market but also educational,… Read More »