Bearish Divergence: The EUR/USD is showing a bearish divergence with the 1H RSI ahead of the NFP. It has been resolved now as EUR/USD retreats below 1.31 ahead of the risk event.. This is basically a consolidation just above a double bottom formed during the 3/7 session. A return below 1.3070 could...
Fan Yang | Mar 09 | FX Times
Global market moves resembled a moderate risk-on environment overnight, with the Euro recovering after a recent slump, while the U.S dollar slipped against major counterparts with exception of the Yen.
Chris Gore | Mar 08 | GoMarkets
The Euro rallied to 1.3043 ahead of the European Central Bank (ECB) meeting as Standard & Poor's raised Portugal's credit-rating outlook to 'stable' from 'negative,' while Spain sold EUR 5.03B in government bonds amid the EUR 5.00B target.
David Song | Mar 08 | DailyFX
The U.S dollar continued its solid run overnight as investors looked to signs employment is steadily improving, amid further milestone highs from U.S equities.
Chris Gore | Mar 07 | GoMarkets
Bearish swing; Rising trendline break: The NZD/USD has been bearish since 2/15 from the 0.8530 high. Momentum started to be bearish in the 4H chart as the RSI tagged 30, then held under 60 in pull backs.
Fan Yang | Mar 07 | FX Times
A break above 1.0270 suggests a gartley is indeed complete and a bullish continuation could be developing. It should be noted that the prevailing trend even before the noted upswing has been bullish. The first challenge will be at a falling trendline from 1.0341. A break above should open up the 1.0341 high as well as further bullish outlook.
Fan Yang | Mar 06 | FX Times
The EURUSD fell back from an overnight high of 1.3074 as the EU floated the idea of a possible 'adjustment of the maturities on the EFSF and EFSM loans to Ireland and Portugal in order to smooth the debt redemption profiles of both countries,' and the group may continue to scale back its push for austerity as the euro-area faces a deepening recession.
David Song | Mar 06 | DailyFX
Following a halt in its correction and its subsequent recovery, we still continue to see further upside risk. However, it will have to break and hold above the 125.21 level to create scope for a run at the 127.70 level. A break will pave the way for a run at the 128.00 level followed by the 128.50 level and then the 129.00 level.
Mohammed Isah | Mar 06 | FX Tech Strategy
Consolidation range breakout: The GBP/USD ended last week (3/1) with a break down of a consolidation range roughly between 1.5070 and 1.5220. The 1H chart shows a strong break and start of bearish momentum. Price cracked the 1.50 handle. The moving averages also got back to bearish alignment, that is until price returned above 1.
Fan Yang | Mar 05 | FX Times
The EURUSD pared the overnight decline to 1.2981 amid speculation that the euro-area will utilize the European Stability Mechanism (ESM) to directly refinance its banking sector, but the finance minsters' meeting in Brussels may fail to stem the risk for contagion should Cyprus struggle to secure a bailout.
David Song | Mar 05 | DailyFX
As indicated in our weekly outlook, AUDUSD extended its broader medium term weakness during Monday trading today. With the pair now holding below the 1.0200 level and testing a low of 1.0114 level, there is risk of further downside pressure. The immediate support resides at the 1.0100 level where a break will target its big psycho level at the 1.0000 level.
Mohammed Isah | Mar 05 | FX Tech Strategy
Channel breakout: The USD/CHF had been consolidating around 0.93 for a few days as a rising channel challenged a larger falling channel. The 2/28 and 3/1 session so far has broken out of that consolidation, and even pushed above the 0.9381 resistance pivot. The RSI is tagging 70, a sign of bullish momentum.
Fan Yang | Mar 02 | FX Times