US markets suffered a dramatic sell-off to round out last week, as a raft of disappointing profit results weighed heavily on sentiment. Blue-chip giants, General Electric, Microsoft, and McDonald’s ignited the panic selling on Wall Street after all three reported earnings that missed analyst estimates. It was the worst one day drop on the Street [...]
Currency Trading Commentary: 17th October
October 17, 2012 By Leave a Comment
International markets extended their rally into a second session overnight as investors reacted positively to the latest economic data releases in the US. The Dow posted its biggest gain in a month after industrial production returned to growth in September, easing concerns over the state of the US manufacturing sector. The positive mood was helped [...]
USDJPY FX Trading News: February 16
February 16, 2012 By Leave a Comment
The move above the 78.20-40 resistance region should have bullish implications for the USDJPY over the next few weeks. The next horizontal technical levels are noted at 79.50 initially, followed by 80.30, and these naturally become the target regions. Below the current market price, support is noted at 78.00 initially. The price action should not [...]
Australian Dollar & FX Trading Wrap: February 8
February 8, 2012 By Leave a Comment
The Australian dollar rallied over the past 24-hours, moving past the US$1.08 handle on the back of yesterday refusal by the RBA to cut interest rates. The Aussie added 0.7% against the greenback to settle at 1.8000 at this morning’s NY close, and 0.9% against the yen to settle at 82.92. Overnight the euro rose [...]
AUD USD FX Trading News: February 7
February 7, 2012 By Leave a Comment
The RBA surprised the market today by keeping rates on hold, at 4.25%. The decision, delivered at 2:30pm, AEDT, caused a sharp spike in the Aussie dollar, sending it surging into a six-month high of 1.0810. The market had priced in the likelihood of a further 25 basis point cut, hence the strong reaction when [...]
EURUSD Trading Commentary: February 3
February 3, 2012 By Leave a Comment
Whilst there is the possibility that the pullback phase is now in place, we would need to see some further follow through higher to confirm this. We note resistance through 1.3230-40, which needs to be cleared in order to maintain pressure to the topside. If 1.3230-40 is cleared, the next target region becomes 1.3430-40 initially, [...]
NZD EUR Currency Trading Tip: February 1
February 1, 2012 By Leave a Comment
The bias for the NZDEUR is bullish. Since the start of the year the Kiwi has been on a tear, whilst the euro has continued to struggle under the weight of the Greek debt fiasco. The shorter-term EMAs are crossed higher and diverging and the price action is above the longer-term EMA filter, which is [...]
EURUSD Currency Pair News: January 30
January 30, 2012 By Leave a Comment
The key region to watch at the moment with regard to the EURUSD is the 1.3200-40 region. This price region has previously acted as both support (October and November last year) and resistance (December last year). The region also represents the 38.2% Fibonacci retracement level from the late-October high to mid-January low. In order for [...]
FX Pair News: AUDJPY Taking Profits
January 27, 2012 By Leave a Comment
We recently outlined a Trading Idea on the AUDJPY, buying at 80.70 with stops at 78.60 and targets to 83.70. We followed up this commentary on 25 January, suggesting that those in longs trail their stop to 79.60. Since then, the pair has pressed higher, last night hitting a high of 82.90 before slipping back [...]
Currency Trading Commentary: 11th October
US markets suffered further losses overnight, as the third quarter earnings got off to a shaky start on the back of Alcoa’s poor outlook. Although the aluminium giant’s quarterly earnings and revenue topped estimates, investors were taken aback by its downbeat outlook for global commodity demand. Chevron also weighed on the market after warning that [...]