06 Dec 11:26 - Euro (1.3666) has shot up to 1.3670 in line with our expectation but this is the first instance of a rise that took lesser time than the previous fall, underlining bullish strength. This is a finer change in the internal structure and if Euro manages to cross and sustain above
06 Dec 10:26 - Looking for a break below the channel (orange) or above the trend line (purple) for indications which side is potentially better (green and red arrows 4 hour). Target for upside is the 78.6% Fib of the 4 hour chart.
06 Dec 10:22 - The price is set to fall to the target level 101.40 in the next two days. The stop-level for this forecast is set by Autochartist at 103.35 (point B, the top of this Up Channel). The top of this chart pattern formed recently when the pair reversed down from the
06 Dec 10:19 - Several weeks ago we highlighted that 'while many will argue this break higher is decidedly bullish for treasury yields, we remain cautious. Technically, the US 10-year yield is approaching 61.8% retracement of the Sept-Oct. decline around 2.80%, furthermore this has been coincided by daily RSI testing the key 60/65 level,
06 Dec 10:15 - USDCAD has come onto our radar recently as it broke to a fresh multi-year high, above 2011's peak of 1.0650, and with the potential to see a further advance we decided to put our proprietary model to the test.
05 Dec 20:42 - This afternoon, market players will be focusing on the European Central Bank meeting. At its last meeting, in November, the ECB surprised everyone with a 25 basis point cut in interest rates. Since then the eurozone economic conditions have not deteriorated much if at all and inflation meanwhile has risen
05 Dec 19:15 - The pair reached a new high at 1.3639, but the resistance at 1.3650 is still intact and I favor a reversal to initiate a slide for 1.3524, en route to 1.3398 support area. Minor intraday support is projected at 1.3578.
05 Dec 18:27 - On Wednesday Dollar/Yen continued decreasing with 100 pips. The currency couple depreciated from 102.84 to 101.80 yesterday, matching the negative money flow sentiment at under -11%, closing the day at 102.30. This morning the Dollar is trading quietly against the Yen, with movements at the lower end of yesterday's range for now.
05 Dec 18:12 - AUDUSD reversed perfectly from 0.9140/50 level in this week where wave E of a triangle completed a wave B) running triangle. We have seen a sharp impulsive fall to a new low so it means that wave wave C) is already underway, ideally down to 0.8900 or possibly even to
05 Dec 17:09 - Despite a spike down to 1.3528 EUR/USD did not close below the nearest support at 1.3570/65, meaning it is poised for more gains in the future. Right now the currency pair is testing the rising resistance line at 1.3649/40, but instead of breaching it the rate is more likely to