Rumors that the European Central Bank would announce measures to battle the debt crisis in Spain and Italy spurred a turnaround in June Euro futures this morning. After reaching...
Currencies
Fundamental and technical analysis of the Australian Dollar (AD), British Pound (BP), Canadian Dollar (CD), Euro (EU), Japanese Yen (JP), and Swiss Franc (SF) Futures markets.
Nearby Euro Straddling Key Support Level
Barring a massive buying spree or short-covering rally, the Nearby Euro futures contract is expected to finish the week sharply lower and in a position to continue its sell-off...
June Euro Futures Has Room to Rally
The June Euro futures contract confirmed last Friday’s closing price reversal bottom with a rally through 1.2796 on Monday. Although this chart pattern could lead to a sizeable short-covering...
June Euro Ripe for Closing Price Reversal Bottom
The June Euro continued its sell-off overnight, but as it neared the low for the year at 1.2645, the market reversed course and is now trading higher. Since the...
Sellers Showing No Sign of Letting Up on June Australian Dollar
Early in the trading session on Tuesday, the June Australian Dollar was making an effort to form a bottom. Not only was it attempting to crossover to the bullish...
June Australian Dollar Showing Signs of Bottoming
The June Australian Dollar futures contract is showing signs of bottoming this morning after regaining a key retracement level and crossing to the bullish side of a steep downtrending...
June Australian Dollar Nearing Fibonacci Level
Investors continued to dump risky assets overnight, driving the June Australian Dollar futures contract through a slow-moving uptrending Gann angle from the .9496 main bottom at 1.0066. Since topping...
Will the Euro Bears Finally Win the Battle Over 1.3000?
After briefly exploring the bearish side of 1.3000 on Monday, the June Euro turned around to close near the high of the day. Although this move had the appearance...
Daily June Euro Recovers after Brief Trip Under 1.3000
The June Euro briefly broke through three bottoms on the daily chart at 1.3000, 1.3009 and 1.2987 last night, but failed to trigger the wave of sharp selling pressure...
Monthly Chart Holds Key to Next Move in U.S. Dollar
It looks as if the Monthly Nearby U.S. Dollar Index is trying to establish support at 50 percent of the May 2011 to January 2012 range. Based on the...
June Euro Futures Set Up for Bear Trap
The June Euro is trading inside of Wednesday’s range as traders await today’s European Central Bank interest rate announcement and ECB President Draghi’s press conference. Expectations are for the...
Daily June Euro Futures Chart Pattern Recap
Tuesday’s closing price reversal top in the Daily June Euro was a sign that the sellers finally took control of the single currency and that buyers were most likely...
June Euro Futures Nearing Make or Break Area
The cluster of downtrending Gann angles at 1.3264, 1.3271 and 1.3287 once again proved to be too much resistance for the Daily June Euro futures contract overnight. In addition,...
Slight of Hand Trick by BOJ Fails to Weaken Japanese Yen
The overnight move by the Bank of Japan to stimulate its economy by putting liquidity in and taking liquidity out, failed to fool traders and effectively looked like a...
Drop in Sentiment Indicator Weakens June Euro
Even though the U.S. Federal Reserve set a softer tone for the U.S. Dollar on Wednesday, the Daily June Euro is trading lower overnight after the European Commission reported...
Strong Equity Indices Supporting Australian Dollar
The technical analysis picture is looking better for bullish Daily June Australian Dollar traders as the market appears poised to challenge a downtrending Gann angle and perhaps breakout to...
Rangebound Euro Setting Up Next Shorting Opportunity
Strong investor demand for risk fueled a rally in the Weekly June Euro futures contract on Friday, driving the currency pair to its highest level in two weeks. The...
Short-Sellers Still Controlling Euro
The June Euro futures contract erased earlier gains against the U.S. Dollar and is now trading lower for the session. Overnight the single currency attempted an upside breakout after...
Euro Traders Await Spanish Bond Auction
The June Euro is trading flat against the U.S. Dollar as investors take the sidelines ahead of tomorrow’s Spanish bond sale. As debt worries mount, investors will be taking...
June Australian Dollar Threatening to Resume Downtrend
Looking at the big picture, it appears the Daily June Australian Dollar has met a wall of resistance at a pair of tops at 1.0380. In addition, downtrending Gann...
