Tag Archives: Euro

Today’s Trading Edge: EUR/USD –Draghi QE comments sink euro

EUR/USD hit my downward target of 1.2050 after comments from ECB President Mario Draghi highlighted the increased likelihood of seeing a large-scale quantitative easing program out of Europe.  The exchange rate fell to a new 4 ½ year low to 1.2209.  Another key bearish driver was the IMF COFER that announced that euro global reserves

Today’s Trading Edge: EUR/USD – Euro rebounds after sharp fall to new low

EUR/USD has rebounded slightly back around the 1.2200 handle after having plunged to a new two-year low.  Prior to this new low, euro-dollar was tentatively respecting the 1.2250 level last week.  This level may now become key resistance for the current slide.  The 60-minute EUR/USD chart displays the key reversal that occurred with a bearish

Today’s Trading Edge: To short euro, or to sell crude, that is the question

Traders are becoming heavily one sided with their bearish bets on both the euro and crude oil.  Both instruments have overwhelming fundamental pictures that support further downside for both.  The euro is expected to accelerate its losses once the European Central Bank begins aggressively launching a large-scale government bond buying program.  Crude oil is poised
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10 Dec: US$ uptrend on hold as Yen, Euro stage partial recovery. China CPI today’s focus.

General US$ weakness allowed the other majors to make a decent recovery today from their recent trend lows, before the dollar staged a partial recovery of its own late in the session. In the absence of any major EU or US data today, it could end up being choppy but rather without direction, so the
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Euro Rose vs. Franc, Gold Fell After Swiss Referendum Outcome

DailyFX.com – Want to trade with proprietary strategies developed by FXCM? Find out how here. Talking Points: 78% of Voters Rejected the Swiss Gold Initiative While 22% Supported It Euro Rose vs. Franc on Bets SNB Will Be Better Able to Defend 1.20 Floor Follow Data Releases Directly on Your Charts with the DailyFX News

25 Nov: Euro lifted by a firm German IFO ahead of today’s US GDP/Confidence data.

A firmer German IFO business reading underpinned the Euro today and it would appear there may be some room for further short term gains as positions are squared ahead of the US Thanksgiving holiday. Direction today will be decided by the outcome of the GDP data due from Germany and the US, and then by

24 Nov: Euro lifted by a firm German IFO ahead of today’s US GDP/Confidence data.

A firmer German IFO business reading underpinned the Euro today and it would appear there may be some room for further short term gains as positions are squared ahead of the US Thanksgiving holiday. Direction today will be decided by the outcome of the GDP data due from Germany and the US, and then by

24 Nov. Euro under increasing pressure as it heads towards critical support levels.

All was quiet heading into the weekend until Mario Draghi reiterated that the ECB will do everything within its powers to ignite growth/inflation expectations, sending the Euro tumbling sharply lower and with more losses looking likely this week. Draghi was closely followed by  a Chinese rate cut from the PBOC, which did not help the Euro at all,
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18 Nov: US$ stages another recovery. A soft ZEW and doveish ECB would keep the pressure on the Euro.

The US$  has staged a recovery today after some early Asian selling, and most of the majors sit near their session lows. We seem to be in a period of  general consolidation, which looks as though it could continue for the next few sessions although further doveish comments from various ECB members such as we
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