EUR/USD hits major resistance ahead of US inflation: European open
With inflation data for Europe and the US in today's European session, we take a look at EUR/USD to identify key levels and a directional bias.
EUR/USD, USD/JPY implied vols rise ahead CPI and GDP data: European Open
With a host of inflation data from Europe and GDP data for the US, implied volatility has picked up to wake markets up from their post-Thanksgiving lull. Today we take a look at USD/JPY and EUR/USD for a potential setup.
GBP/USD bulls eye move to 1.27: European open – Nov 27, 2023
GBP/USD has continued to take advantage of a weaker US dollar and rise to an 11-week high. And with a high level of volume activity overhead, we see the potential for a move to 1.27.
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EUR/USD looks set to mean revert, Nasdaq to rally into Thanksgiving? European open
Has the rally on EUR/USD gone too far, too soon? Whilst it shows the potential for further gains, a pullback would not come as too much of a surprise. And with the Nasdaq rising ~80% of the Wednesday's ahead of Thanksgiving, we feel inclined to seek intraday bullish setups today.
US dollar index approaches its 200-day MA as EUR/USD eyes resistance
With the US dollar continuing to soften during Monday’s Asian trade, we now wait to see if it can help EUR/USD break above a key resistance level. But with the 200-day MA nearby for the US dollar index, it might may hit a bump in the road.
Gold set to bounce? EUR/CHF looks ready to roll (over): European open
Today we look at a cheeky long setup on gold with its double bottom pattern at support, and an interesting setup on EUR/CHF which could appeal to bearish swing traders.
USD/JPY bears eye 150, DAX squares up to its 200-day MA: European open
Whilst the 200-day MA stands in the way of further DAX gains, I suspect a move to 16k could still be on the cards. USD/JPY could also test 150 as part of its next leg lower, if incoming US data disappoints.
EUR/USD, USD/JPY key levels ahead of US inflation: European open
Once again, the 1-day implied volatility levels for EUR/USD and USD/JPY have blown out ahead of a busy calendar. Central bank members from the Fed, ECB, BOE and SNB will hit the wires, European GDP is also on tap ahead of the key US inflation report.
GBP/USD, DAX technical analysis: European open – Nov 13, 2023
With central bank members from the Fed and BOE lined up ahead of tomorrow's US inflation report, GBP/USD is a pair to watch for potential volatility. And whilst the DAX has seen a decent rally from its cycle low, I'm looking for a potential swing high and pullback to 15k.
GBP/USD, EUR/GBP technical analysis: European open – Nov 9, 2023
A quick look at the charts suggests the British pound might be nearing a burst of energy, and that could be beneficial for GBP/USD bulls or EUR/GBP bears.
GBP/USD caught between BOE, Fed speak, EUR/USD teases 1.07: European open
Both EUR/USD and GBP/USD have found themselves under pressure from a stronger US dollar this week and are at risk of closing lower for a third if traders take any hawkish Fed comments to heart. Yet the daily trend structures mean I am also on the lookout for swing lows for both pairs over the near-term.
USD/JPY holds support, DAX breaks 15k: European Open – Nov 2, 2023
The DAX may have broken the 15k level, but it remains within a bearish channel and resistance zone on the daily timeframe – so I’m looking out for a potential swing high once its current rally has petered out. USD/JPY has found intraday support around a cluster of technical levels, which paints a near-term bullish bias.
EUR/USD under pressure ahead of FOMC: European open – Nov 1 2023
The initial rally seen on EUR/USD on Tuesday played very nicely with the near-term bias for a move towards 1.07. But with momentum once again realigning with the bearish daily trend, it may struggle to recapture 1.06 before its next anticipated leg lower.
EUR/USD meanders around 1.06 ahead of key events: European open – 31/10/2023
EUR/USD has pulled back against Monday’s moves, but has the potential to extend yesterday’s rally should inflation data from across Europe come in hot enough today. We also have the FOMC meeting looming which has seen implied volatility rise for the pair.
EUR/USD falls ahead of ECB, Nasdaq ponders make-or-break moment: European open
We enter today’s European session quite unsure of how this could play out. Several key markets are at our around key levels, and that usually means we’re a few ticks away from either all out carnage or a reversal of fortunes. Can the Nasdaq cling onto support? And will the ECB drive EUR/USD lower?
EUR/USD hints at 1.07 swing high, USD/CAD steady pre BOC: European open
A 2-bar reversal on EUR/USD suggests it may have seen the completion of a 3-wave correction. If so, it also assumes a break to new cycle lows. Elsewhere, USD/CAD is sitting pretty just off its cycle highs ahead of today's BOC meeting, where a dovish hold might help it make a break for 1.38.
USD, DAX cling to support ahead of PMIs: European open – 24/10/2023
The USD is on the ropes as we enter this session, but it’s likely all down to yields as to where the dollar goes next. And we have enough data in the pipeline to make it go one way or the other. The DAX is also clinging to support, but I see the potential for some mean reversion ahead of its next leg lower.
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EUR/USD probes resistance ahead of CPI, Fed speakers: European open – 18/10/2023
EUR/USD followed our near-term bullish bias to a key resistance zone ahead of today's eurozone inflation report. And we also have several Fed members set to speak which could dictate which side of resistance the euro closes the day on.
GBP/USD, gold to withhold dollar strength? European open – 17/10/2023
UK wages and employment data is released shortly, which could set the tone for tomorrow's inflation report (which in turn could effectively decide the BOE's next interest rate decision). And that puts GBP/USD very much in focus, with US retail sales and several Fed members also on today's calendar. Gold is holding on to much of last week's gains, but we're looking for dips towards 1900 to increase the potential reward to risk ratio for bulls.
EUR/USD, FTSE 100 analysis: European open – 16/10/2023
Monday trade in Asia saw mild signs of mean reversion against some of last week's large moves, which should not be confused with 'risk-on' with sentiment remaining fragile around the Middle East conflict. Beyond these potentially false moves, we're looking for potential short setups on the FTSE 100 and EUR/USD.
S&P 500, EUR/USD analysis: European open – 11/10/2023
The US dollar has retraced for five days and EUR/USD has risen into a key resistance level ahead of a busy economic calendar, which includes US PPI data, FOMC minutes and several Fed members speaking. The S&P 500 also has a tailwind on renewed bets that Fed are done hiking, and today's calendar could make or break these presumptions.
WTI crude oil, EUR/GBP analysis: European open – 09/10/2023
Gold and oil were higher in Monday’s Asian session in response to weekend news that Israel had declared war against Hamas. With the potential that this could spread into a wider Middle East conflict, gold sucked in safe haven flows whilst oil was higher on supply concerns.
EUR/USD, WTI crude oil tread water ahead of NFP: European open – 06/09/2023
It has been an action-packed week for markets, which has meant that price action ahead of today’s nonfarm payroll report has been quieter than usual. But that doesn't mean it will stay quiet heading into the weekend. Today we look at key levels on the intraday charts of EUR/USD and WTI crude oil.