Live Trading the Currency Markets

[Ammeo 10]

The EUR/USD is on fire. Catching bids all week. But Thursday provided a huge bearish engulfing reversal pattern so caution ahead.

 

Russia sold 100 billion of US Treasuries this week and it appears they may have been Euros in place which would explain the demand we saw.

[Ammeo 10]

Weekly outlook: March 17 - 21

The yen rose against the dollar and the euro on Friday as safe haven demand was bolstered by fears over an economic slowdown in China and tensions over the crisis in Ukraine, ahead of a referendum in Crimea.

 

USD/JPY ended Friday’s session down 0.44% to two-week low of 101.34. For the week, the pair lost 1.84%, the largest weekly decline since late January.

 

EUR/JPY was down 0.12% to 141.02 at the close, after falling as low as 140.45 earlier.

 

Investor sentiment was hit as weak economic reports from China raised fresh concerns over the strength of the world’s second-largest economy. On Thursday, Chinese Premier Li Keqiang warned that the economy faced "severe challenges" in 2014.

 

Fears over problems in China’s financial sector also sapped risk appetite following the country’s first domestic bond default this month.

 

Meanwhile, tensions between Russia and the West remained high ahead of Sunday's referendum in Ukraine’s Crimea region, now controlled by pro-Russian forces, on whether citizens want to join Russia.

 

The referendum has been condemned as "illegal" by Kiev and the West.

 

The traditional safe haven Swiss franc was also stronger against the dollar, with USD/CHF down 0.26% to 0.8721 on Friday, not far from Thursday’s low of 0.8698, the weakest level since October 2011.

 

The euro moved higher against the dollar on Friday, with EUR/USD up 0.33% to 1.3913 at the close, holding below Thursday’s peaks of 1.3966, the strongest level since October 31, 2011.

 

The euro lost ground against the dollar and the yen on Thursday after European Central Bank President Mario Draghi said the strong euro was putting downward pressure on euro zone inflation.

 

Draghi said the strength of the euro was becoming increasingly relevant to the bank’s assessment of price stability, indicating growing concerns that the appreciation of the euro could undermine the fragile recovery in the euro area.

Edited March 16, 2014 by tradingwizzard

[meshpips 10]

I suggest staying long on the USDJPY until at least 103.30

See chart attached.

Happy trading!

[tradingwizzard 10]

I suggest staying long on the USDJPY until at least 103.30

See chart attached.

Happy trading!

 

these are just suppositions....and by the way that volume of yours is only from that broker...what do you do if a bigger seller came there on another broker?

 

TW

[Ammeo 10]

U.S. Treasury's Lew welcomes Chinese currency move

UPDATE 1-U.S. Treasury's Lew welcomes Chinese currency move | Reuters

[tradingwizzard 10]

U.S. Treasury's Lew welcomes Chinese currency move

UPDATE 1-U.S. Treasury's Lew welcomes Chinese currency move | Reuters

 

Chinese are still fishy....they give with one hand and take with the other....just saying

 

TW

[Ammeo 10]

Chinese are still fishy....they give with one hand and take with the other....just saying

 

TW

 

US must have something in their favour for this move or else they wont appreciate it. Maybe its just mind games they playing, who knows what the real deal is. Only the insiders may have a full picture of it.

[Ammeo 10]

Forex Weekly Outlook Mar. 24-28

The US dollar had a successful week, rising against most currencies thanks to a hawkish move from the Federal Reserve. German Ifo Business Climate, Inflation data in the UK, US consumer sentiment and housing data as well as jobless claims are the highlight events . Here is an outlook on the main market-movers this week.

 

Fed Chair Janet Yellen, hinted about a rate hike in the spring of 2015 causing a multi-layered USD rally. Positive US data released at the end of last week backed the Fed’s intentions. Philly Fed Manufacturing Index rebounded to 9 points in March. Furthermore, US weekly unemployment claimsrose less than expected to 320K, continuing the recovery process in the US labor market. But are we seeing a serious change or will her words be watered down? The biggest victim was CAD, which reached a new multi year low, and also GBP/USD suffered. EUR/USD was also hit by disappointing German data. The yen enjoyed the Ukraine crisis and the kiwi showed its own strength.

 

Forex Weekly Outlook Mar. 24-28 | Forex Crunch