USDCAD is trading higher and moving further away from the more than two-year low of 1.2061. After stalling at the key 1.25 level, the pair resumed its rise, with 1.30 now in sight. USDCAD looks set to extend its correction from the 1.20 area in the coming weeks as risk is clearly tilted to the […]

EUR/USD: Following the initial bullish effort that was seen earlier this week, the market plummeted on Thursday, losing 170 pips. Price remains under the resistance line at 1.1650, and it may go towards the support line at 1.1600. Any rallies here would be temporary as price journey further southwards. The bias on the market is […]

EUR/USD: Following the initial bullish effort that was seen earlier this week, the market plummeted on Thursday, losing 170 pips. Price remains under the resistance line at 1.1650, and it may go towards the support line at 1.1600. Any rallies here would be temporary as price journey further southwards. The bias on the market is […]

Wave summary: As long as minor support at 1.6958 is able to protect the downside, we will be looking for more upside towards 1.7454 and 1.7777 as the next upside targets. If, however, minor support at 1.6958 gives away, that shifts the preferred if favor of wave i completing the test of 1.7216 and a […]

Wave summary: As long as minor support at 1.6958 is able to protect the downside, we will be looking for more upside towards 1.7454 and 1.7777 as the next upside targets. If, however, minor support at 1.6958 gives away, that shifts the preferred if favor of wave i completing the test of 1.7216 and a […]

Wave summary: As long as minor short-term important support at 131.64 is able to protect the downside, we will be looking for more upside towards 137.37 to complete wave (D) and set the stage for a final decline in wave (E) towards 123.43. If, however, a direct break below 131.64 is seen that will indicate […]

Wave summary: As long as minor short-term important support at 131.64 is able to protect the downside, we will be looking for more upside towards 137.37 to complete wave (D) and set the stage for a final decline in wave (E) towards 123.43. If, however, a direct break below 131.64 is seen that will indicate […]

The price is now testing our major support at 87.28 (Fibonacci extension, Elliott wave structure, swing low support, bullish divergence) and we expect to see a strong bounce above this level to push the price up to at least 87.75 resistance (Fibonacci retracement, breakout pullback resistance). Stochastic (34,3,1) is seeing strong support above 2.2% and […]

The price is now testing our major support at 87.28 (Fibonacci extension, Elliott wave structure, swing low support, bullish divergence) and we expect to see a strong bounce above this level to push the price up to at least 87.75 resistance (Fibonacci retracement, breakout pullback resistance). Stochastic (34,3,1) is seeing strong support above 2.2% and […]

The price has dropped perfectly from our selling area and has reached our profit target. We are now seeing it at major support so the plan is to buy above 1.3112 (Fibonacci extension, horizontal swing low support) for a push up to at least 1.3229 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (21,3,1) is seeing […]

The price has dropped perfectly from our selling area and has reached our profit target. We are now seeing it at major support so the plan is to buy above 1.3112 (Fibonacci extension, horizontal swing low support) for a push up to at least 1.3229 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (21,3,1) is seeing […]

When the European market opens, some Economic Data will be released, such as German Import Prices m/m. The US will release the Economic Data, too, such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Advance GDP Price Index q/q, and Advance GDP q/q, so, amid the reports, EUR/USD will move in a low to […]

When the European market opens, some Economic Data will be released, such as German Import Prices m/m. The US will release the Economic Data, too, such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Advance GDP Price Index q/q, and Advance GDP q/q, so, amid the reports, EUR/USD will move in a low to […]

In Asia, Japan will release the Tokyo Core CPI y/y and National Core CPI y/y data, and the US will release some Economic Data, such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Advance GDP Price Index q/q, and Advance GDP q/q. So, there is a probability the USD/JPY will move with low to […]

In Asia, Japan will release the Tokyo Core CPI y/y and National Core CPI y/y data, and the US will release some Economic Data, such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Advance GDP Price Index q/q, and Advance GDP q/q. So, there is a probability the USD/JPY will move with low to […]

USDX has been favored in the last few hours by a fresh momentum above the 200 SMA, which also has been acting as a dynamic support in the short-term. The focus now shifts towards the 94.56 level, which coincides with a key level for sellers to appear. To the downside, the strong support still lies […]

USDX has been favored in the last few hours by a fresh momentum above the 200 SMA, which also has been acting as a dynamic support in the short-term. The focus now shifts towards the 94.56 level, which coincides with a key level for sellers to appear. To the downside, the strong support still lies […]

Forex Market Reviews: http://thefxlounge.com/#Market-Review -ECB Tapers QE by €30bln pm & the Euro dives. -Trade-weighted Indices may show the way ahead. -Inflation in Australia & Japan? Not so much. -The legacy of QE, Few positive Real Returns on 2yr Govt Bonds. The overnight changes and price moves to be aware of by Pepperstone’s Market Analyst, […]

GBP/USD is piercing once again below the 200 SMA, confirming that it’s trapped in between a narrow range. That’s why we’re no clear in which is the dominant trend across the board, but still, we’re expecting a breakout lower. If the support level offered by October 20th lows give up, then we might see a […]

GBP/USD is piercing once again below the 200 SMA, confirming that it’s trapped in between a narrow range. That’s why we’re no clear in which is the dominant trend across the board, but still, we’re expecting a breakout lower. If the support level offered by October 20th lows give up, then we might see a […]

ECB is the top headliner on this Thursday, so let’s see how the monetary policy announcement has influenced the FX markets. Euro/Dollar moved sharply lower as midday approached and the pair has lost almost 1% to record the day’s biggest move. US stocks are gaining ground and Greenback is the most bullish of the 8 […]

The advance estimate of third quarter GDP growth in the US will be released tomorrow at 1230 GMT with forecasts projecting a slowdown from the second quarter’s 3.1% expansion on an annualized basis to 2.5%. Economic activity, as reflected by the rise in Gross Domestic Product, grew by 1.2% in the first quarter of the […]

The Euro reversed lower from a near one-week high after the ECB pledged to maintain easy monetary policy even as it announced a reduction in its monthly asset purchases. The single currency slipped back below $1.18, while the US dollar was once again eyeing the 114 Yen level amid reports that incumbent Fed chief Janet […]

ECB decided to act by cutting QE to 30 billion per month from 60 billion per month from January 2018.  Though this action should be considered a bullish move, the ECB also announced that they will be extending it till at least September 2018 with room to extend it further has woken up the bears. […]

Eurozone Today, the ECB will hold a regular meeting on monetary policy issues. It is expected that the ECB will have its final decision to phase out the incentive program, which in the current structure should be completed in January 2018. Consolidated market expectations suggest that the regulator will prolong the asset repurchase program for […]