FOREX TRADING

USD suffered vs risky currencies on Friday after stronger numbers from the US. US payrolls rose more than expected, and the unemployment rate continued to fall in January; ISM Services were also strong, further helping equities and risky FX (SEK, AUD, CAD) trade higher. But USD made gains vs JPY

The EURUSD was indecisive last week. As you can see on my h4 chart below price has been moving sideways since January 26. The bias is neutral in nearest term and need a clear break from the range area to see clearer direction. Price is still in a bullish phase

Markets started the session off positive on the back of strong US payroll numbers before the Kospi and Taiex slipped into negative territory. Shanghai Composite also flirted to the downside, London copper, March silver and April gold eased lower with the looming deadline for Greece to reach terms for a

The pair is still trading inside the ascending correctional channel shown above, where SMA 50 supports the pair from below, which drives us to expect an upside correctional move this week, targeting areas around 122.25 and then 124.25, noting that a breach of the several support levels between 120.15 and

A seeming lack of progress on either of the Greek negotiations (PSI and Troika) over the weekend set the EUR off on a weak tone at the start of trading today. Opening close to New York closing levels from Friday, the EUR slid back to Friday’s lows as no developments

Euro 1.3085 Initial support at 1.3000 (Big Figure Support) followed by 1.2931 (Jan25 low). Initial resistance is now located at 1.3244 (38.2% retrace of 1.4247-1.2624) followed by 1.3386 (Dec 12 high)

U.S. Dollar Trading (USD) stock markets enjoyed some solid gains on the back of the January’s NonFarm Payrolls surging to 243k vs. 170k forecast and the Unemployment rate falling to 8.3% from 8.5%. The USD was not sold off as usual but instead able to hold near the opening levels

Australian retail sales surprised the market on the downside, coming in at -0.1% for December (consensus +0.2%m/m). The aussie was sent around 20 pips lower immediately following the release, with investors pricing in an increased chance for a rate cut tomorrow. Also, Australian interbank futures suggest that traders are pricing

On Friday Euro/Dollar traded within 140 pip range. The European currency depreciated from 1.3207 to 1.3065 on Friday, not matching the positive Interbank sentiment projection at over +5%, closing the week at 1.3111. This morning the Euro is showing weakness, moving at the lower end of Friday’s range for now.

EUR/USD Today’s support: – 1.3050, 1.3038, 1.3002 and 1.2974(main), where correction is possible. Break would give 1.2949, where correction also may be. Then follows 1.2907. Break of the latter would result in 1.2874. If a strong impulse, we would see 1.2857. Continuation will give 1.2831.

The Lloyds Bank January consumer barometer was released earlier today. Like Friday’s business barometer it was less negative than last month release but confidence is still low. In particular the labour market indicators remain weak and within ranges seen during the 2008/9 recession. The balance for job prospects rose 2

The EURO closed slightly higher on Friday and the midrange close sets the stage for a steady opening on Monday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this month’s rally, the 50% retracement level of the aforementioned

The Euro (1.3084) failed to break above 1.3200 after the US NFP data release. Immediate Support is there at 1.3077 (55-DMA) and a strong break/close below this Support could take it down towards 1.2950. Dollar-Yen (76.71) has risen above its Resistance at 76.55. However, it still has good Resistance at

The break above 76.35-42 clearly came as a surprise. However, I see the move so far as corrective and therefore a small shift of the structure I had been using is required. This could still mean a small dip to the 76.35-48 area but overall I see this correction extending

AUD/USD was happy to continue the tone of the Asia session ahead of the US Payroll numbers during European trade, as the price ranged between the 1.0675 lows and the 1.0715 tops. The better than expected numbers saw the risk sentiment rally take off with the commodity currencies being the