Analysis Topic: Currency Market Analysis
The analysis published under this topic are as follows.
Thursday, September 05, 2013
U.S. Dollar Clues for Trend Over Next Few Months / Currencies / US Dollar
By: Rambus_Chartology
Tonight I would like to show you some charts on the US dollar that is finally showing a little action after a month or so of chopping around towards the lows. I have many different looks that might give us a clue or two on what to expect over the next month or so.
The first chart is a 6 month daily chart that shows a potential double inverse H&S bottoming formation. As you can see the smaller inverse H&S #1 had a nice long bar on the breakout followed by a backtest the next day. That completed the smaller inverse H&S bottom. The rally only lasted one day which gave us a point to drawn in the 2nd Neckline. The price action is now getting ready to backtest NL #1 again that would create the right shoulder for the bigger inverse H&S #2. So this is a critical backtest taking place in the next day or two to the 81.90 area. If neckline #1 can hold support the price objective of the bigger H&S bottom would be up to the 84.85 area which would be back at the previous high made in July.
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Wednesday, September 04, 2013
USDCHF Elliott Wave Forecast - Could Test 1.0000 By 2013 End / Currencies / Forex Trading
By: Gregor_Horvat
USDCHF: Sharp reversal in 2011 from 0.7000 area is impulsive leg, and we know that impulses show direction of a current trend. As such, we think that pair is now bullish for minimum three wave rise; A)-B)-C). In the last few months we have seen a slow and choppy price action in 0.8900-1.0000 range which now seems to be a contracting triangle placed in wave B). We can already count five waves within this pattern so traders must be aware for a push higher into wave C) later this year.Read full article... Read full article...
Tuesday, September 03, 2013
EUR-USD Could Be Forming A Major Turning Point For The Year / Currencies / Euro
By: Gregor_Horvat
EURUSD is trading nicely lower for the last week or so which could be start of a new larger impulsive bearish trend. However, decline from 1.3450 is actually still in three waves so corrective outlook must not be ignored but we will stay with current sentiment and focus on the bearish scenario as long as 1.3400 holds. Read full article... Read full article...
Monday, September 02, 2013
U.S. Dollar Index Strength Suggests Lower Euro and GBP Ahead / Currencies / Forex Trading
By: Gregor_Horvat
Markets gapped on Sunday againts the USD after the U.S. President Barack Obama delayed a military strike against Syria by requesting authorization first from an incredulous Congress. From a technical perspective the wave patterns and direction did not change much. We are bullish on USD, it means we expect weaker majors, such as EUR, GBP, CHF, AUD and even JPY. Read full article... Read full article...
Thursday, August 29, 2013
USD-CAD Price Could Extend Up To 1.0650 / Currencies / Canadian $
By: Gregor_Horvat
On USDCAD we are tracking an impulsive price action from around 1.0280 which is still incomplete as we need five waves to the upside. In fact, in this week we have seen only a three wave set-back from the latest swing high which is a corrective structure, so we think that larger uptrend will resume soon so we labeled current retracement as wave 4, which means that we expect another push higher, into wave 5 that will be targeting 1.0620/1.0650.
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Thursday, August 29, 2013
Syria, Iran, and Egypt - Troubled Currencies Project Update / Currencies / Fiat Currency
By: Steve_H_Hanke
Syria: Since August 26, when U.S. Secretary of State John Kerry began laying the groundwork for military intervention in Syria, the Syrian pound (SYP) has taken a beating on the black market. Indeed, the SYP has lost 24.07 percent of its value against the U.S. dollar (USD) in the two days since Kerry’s announcement. Currently, the exchange rate sits at 270 SYP/USD, yielding an implied annual inflation rate of 291.88 percent. In countries with troubled currencies, there is no better measure of economic expectations than the black-market exchange rate. The recent deterioration in the SYP/USD exchange rate clearly indicates that Syrians are anticipating Western military intervention in the near term.
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Wednesday, August 28, 2013
The Biggest Race to Print Paper Money in History? / Currencies / Central Banks
By: Profit_Confidential
Michael Lombardi writes:
Many central banks within the global economy are involved in printing more of their paper money (often referred to as “fiat” currencies). There’s a race to devalue currencies in hopes to revive economies and maintain a competitive stance. Countries believe that by printing more of their fiat currency, they can improve their exports to the global economy, because the goods will be cheaper for those countries that have a stronger currency.
Tuesday, August 27, 2013
U.S. Dollar Gains Strength Off Remarks of the Federal Reserve Bank / Currencies / US Dollar
By: Submissions
Brett Chatz writes: US dollar gains ground against all of its major trading partners. The US dollar held firm and gained ground against most of its major trading partners in the currency markets. This about-turn in expectation materialized after a poor forecast for US durable goods failed to dampen the dollar’s appreciation against major world currencies. Economists pointed out that the dollar had gained ground against most of the 16 traded currencies. Further news for investors is that the Fed looks set to cut bond purchases in upcoming months. The dollar gains were however halted after John Kerry (US Secretary of State) declared that President Barack Obama will hold the government of Syria responsible for its actions. This is seen as a potentially dramatic shift in foreign policy after the administration seemingly backpedalled on its red line comments.
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Monday, August 26, 2013
Tracking USD Long Set-Ups While EUR Is Below 1.3450 and USDCHF above 0.9145 / Currencies / Forex Trading
By: Gregor_Horvat
We can see some USD strength at the start of this European morning coming back into the market which has been expected based on the latest intraday price action. We were looking for a three wave move down on USDCHF with our members, and so far we can see that pair found a bottom nicely around 0.9190 from where we can see some encouraging upside reaction. Looks like we could be heading back to 0.9290, and possibly 0.9330 this week.
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Thursday, August 22, 2013
US Dollar Index Five Waves Up Points to Higher USD / Currencies / US Dollar
By: Gregor_Horvat
EURUSD found some support an hour back or so, after disappointing US Unemployment claims. So I decided to check the intra-day structure on USD Index to see where the buck is positioned and headed next. Well, on the line chart I can see some very clear impulse to the upside, but its presented on a line chart. Its a clear five wave move with a textbook example of an extended wave three. If you are still learning Elliott Wave, then I suggest you to save and print this chart.
Thursday, August 22, 2013
BRICS Currency Crisis Is Looming / Currencies / Emerging Markets
By: Andrew_McKillop
FORGET THE DYING DOLLAR
Federal Reserve taper-down is becoming almost certain, and with it higher interest rates. One direct result is a strengthening US dollar. The US trade deficit, notably due to fast-growing shale oil production trimming imports and sufficient shale gas output to support LNG export trade, is likely to go on shrinking, strengthening the dollar. The myth of an “always weakening dollar”, which was a reality for years, now has realworld Emerging economy rivals actively slumping towards national currency crises. This concerns major “BRIC's” economies – unlike the 1997-98 Asian NIC crisis.
Wednesday, August 21, 2013
Elliott Wave Analysis: USDJPY Is Showing a Bullish Structure / Currencies / Japanese Yen
By: Gregor_Horvat
USDJPY has made three waves of a pull-back from latest high that could be near completion as price tested and already reversed from very important 61.8% Fibonacci support level. We expect to see a move higher from here, ideally in impulsive fashion back to 98.64.
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Tuesday, August 20, 2013
U.S. Dollar Index Forming A Complex Correction – Elliott Wave Analysis / Currencies / US Dollar
By: Gregor_Horvat
USD Index is trading lower for few weeks now but decline from 85.00 has a corrective look for now so we suspect its part of a larger complex correction from May highs. We are tracking a W)-X)-Y) correction, so if we are correct the USD should find a support somewhere around 80.30-81.00 level.
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Monday, August 19, 2013
Euro Advance Since April Low Looking Corrective, Be Aware Of New Sell-off / Currencies / Euro
By: Gregor_Horvat
EURUSD reversed higher few weeks back from around 1.2750 level, but recovery since early April still has a corrective look. With that said, we think that move is complex correction, probably a flat and that larger trend will continue lower, especially if we consider a five wave decline from 1.3700 and the start of the year. If we are correct then current bullish leg should stop somewhere around current 1.3400 -1.3450 resistance area.
Friday, August 16, 2013
British Pound GBPUSD Three Wave Rally Suggests A Bearish Reversal / Currencies / British Pound
By: Gregor_Horvat
GBPUSD is moving higher, but rally from July low is still in three legs with wave C) now near completion as price is approaching upper trend line of a corrective channel as well as equality level compared to wave A). We can also count five waves up from 1.5100 wave B) low, so sooner or later reversal will follow, ideally from 1.5700.
Thursday, August 15, 2013
USDCAD Elliott Wave Analysis - Short-term Pointing Towards 1.0120-1.0150 / Currencies / Forex Trading
By: Gregor_Horvat
USDCAD reversed sharply to the downside at the end of the last week, clearly in impulsive fashion, so structure is now pointing for weaker USDCAD if we consider that rally from 1.0243 was made in three legs, called a correction. We are talking about wave B that has a high in place at 1.0442 from where we expect an impulsive extension down in wave C, back to 1.0243 and possibly even to 1.0150 in this week while 1.0442 is not breached. Recently minor correction has stopped at 1.0350-1.0370 resistance zone from where weakness could resume.
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Wednesday, August 14, 2013
U.S. Dollar Climbing vs. YEN / Currencies / Forex Trading
By: Mike_Paulenoff
Weaker than expected, Japanese growth and new Mr. Abe’s comments that he is thinking about reducing the corporate tax rate to help offset the sales tax hike apparently has convinced all the naysayers that a weaker YEN still is very much part of the Abe "construction" plan.
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Saturday, August 10, 2013
U.S. Dollar - Time to Worry? / Currencies / US Dollar
By: Ashraf_Laidi
Four weeks ago, the USD index hit 3-year highs, metals licked their wounds from the biggest decline in decades and the US growth story stood out in the headline. The Fed was considered the only major central bank capable of scaling down its quantitative easing, while the ECB mulled cutting interest rates to zero. The greenback was boosted by a powerful combination of fundamental and technical moving in tandem.
Thursday, August 08, 2013
Bye Bye Euro, Hello U.S. Dollar! / Currencies / US Dollar
By: Marc_Horn
It has been a while!!! My wife and I are cruising in Oman and internet access is not widely available! But when I saw this today I really felt I should make the effort!
Talk about coincidence.... or not. Today the Euro has so far failed to make a new high, by a tiny margin and provided it fails to make a new high it has only one way to go - DOWN - it is in centi-3 of deci -3 of daily-3 of weekly-3 of monthly-3 !!!
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Wednesday, August 07, 2013
U.S. Dollar Breaks Support, The Next Currency Crisis has Begun! / Currencies / US Dollar
By: Toby_Connor
Today the dollar broke through 80.40. This is a major development as it signals that the current daily cycle topped in only 2 days, thus confirming that the intermediate cycle has also topped.