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Expectations from Majors

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It was a lazy day and eur/usd remained slightly bullish today. This bullish trend is mainly a correcitve move in response to yesterday's quick fall. Eur/usd has touched 1.3056 and now reversal is expected.

Technically next resistance lies at 1.3083. Major support lies at 1.2945.

 

Even though usd/jpy remained strongly bullish today but it is still trading within current week's 173 pip range. Volatility since the start of june is ended and pair is taking its time to settle down after lots of ups and downs. It is currently uptrend and is expected to face resistance near 98.70.

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Eur/usd continues slow but steady bullish trend and is trading near 1.3083 resistance level. Market sentiments on long trend remains bearish. This week is expected to end near this current level.

At last usd/jpy came out of range-bound movements this week. It is expected to find resistance at 10-june high of 99.28 and then at 100.

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In coming week, following fundamentals will have significant impact on eur, usd and jpy.

 

On monday, ISM manufacturing index will have high impact on usd.

On tuesday, nothing much important and looks like technicals will dominate the market.

ADP non-farm employment change and initial jobless claims data will be released on wednesday which will have high impact on usd.

Next we have interest rate decision and draghi's speech, on thusday, which will effect eur.

On last trading day of the coming week, non-farm payrolls and unemployment rate will play an important part in usd's strengthening or weakening.

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Most of the euro data came better than expected which took eur/usd above 1.3050 level. Usd/jpy is trading near 99.75 level and can reach 100 if ISM manufacturing data comes better than expected.

 

We have ISM manufacturing index within 5 minutes and I am expecting high impact on both eur/usd and usd/jpy. I will try to follow the trend to grab some pips.

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Manufacturing data didnt have enough impact to move eur/usd downwards. So I am still on hold and waiting for breakout. Longterm expectations are still bearish and shortterm trend is neutral.

 

Usd/jpy's upward movement is becoming slow as it is reaching near 100. Technically there is no resistance before 100 but psychologically 100 level is very strong resistance. Indicators are favoring strong bullish trend and there are currently no important fundamentals to stop it. It may go into consolidation mode before reaching 100. Tomorrow non-farm emplyment, jobless claims, trade balance and BoJ's governor speech are important factors to move this pair in either direction.

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Eur/usd is steadily heading towards its next target of 1.2837. In next 2 hours, ADP non-farm employment data will be released and 15 minutes after that jobless claims and trade balance data will be released. If U.S data comes better than expected then a strong bearish move is expected in eur/usd. If U.S data comes weaker than expected then either the pair will go into consolidation mode or we may see very small upward move for a short period of time.

 

Usd/jpy crossed 100 level yesterday and reached near 101. It remained above 100 for about 20 hours and then a quick drop took it below 100. I was expecting a pause after reaching near resistance level of 100.75 but wasnt expecting a quick drop below 100. Pair is still trading above support trend line and between 50 and 100 MA. After quick drop, corrective moves are expected until U.S data is released today.

1.png.75b365a37158739a931f148936e2823b.png

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usdjpy might be in a contracting triangle as the move from the 103.70 area to the 94 area seems a three waves move that ended with a contracting triangle.........when such a triangle acts as a reversal pattern, it is usually (but not always) part of a triangle..........IMO the highs in the 103.70 area are only the end of a possible third wave to the upside (Elliott waves)

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For this first time, in this week, fundamentals made an impact on majors. Eurozone interest rate remained unchanged. After Draghi's speech, eur/usd fell more than 100 pips within half an hour. Pair is currently trading above 1.2900 and I am expecting it to go towards next support level of 1.2837.

 

Usd/jpy played around, mostly below, 100 today. Short term trend remains unclear. Technically, longterm trend remains bullish.

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Another strong day for USD.

Non-farm payrolls data came better than expected. Usd is rocketing against rivals. As expected Eur/usd has crossed support level of 1.2837 and very near to major support level of 1.2796. No more important fundamentals for the rest of the day.

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Eur/usd continued corrective moves which r still below resistance level of 1.2896. Draghi's speech didnt have any significant impact. Technically, eur/usd reached major support zone on friday which is why bearish sentiments are weak. It is expected to stay above this support zone.

 

Usd/jpy is rangebound and is expected to continue its longterm trend which is bullish. Resistance level lies at 102.53

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Eur/usd just came down to major support level of 1.2747. Looks like it has followed gbp/usd which came down due to weaker than expected data. Retracement is expected from this point.

usd/jpy is still range-bound. Longterm trend remains bullish and breakout is expected to occur in favor of bulls. Resistance is around 102.53.

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Eur/usd just came down to major support level of 1.2747. Looks like it has followed gbp/usd which came down due to weaker than expected data. Retracement is expected from this point.

usd/jpy is still range-bound. Longterm trend remains bullish and breakout is expected to occur in favor of bulls. Resistance is around 102.53.

 

still bouncing potential on eur/usd

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At the moment I have 14 years data so my research is based on that.

 

There are very few days when eur/usd moves as much as it moved on 10-july. Around 440 pip movement is rarely seen in eur/usd. But it is still unable to make in top 10 most-volatile-days list if we check past 14 year history.

An interesting fact is that top 10 most volatile days, in past 14 years, are in 2008. Nine of these 10 are in last three months of 2008. In to 50 most volatile days list, in past 14 years, 30 are in 2008.

 

Yesterday was 11th most volatile day in past 14 years.

 

FOMC meeting minutes and then Bernarke's speech caused this volatility in Eur/usd. Technically eur/usd found good support near 27-march low of 1.2752. At the moment, eur/usd has consolidated around 1.3100. For day traders, corrective moves are probable but trend is unclear so I will prefer to stay on hold.

 

Usd also lost to Jpy but not as much as it lost to Eur. Current fall can be a temporary fall. Hourly chart is giving range-bound indications.

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At the moment I have 14 years data so my research is based on that.

 

There are very few days when eur/usd moves as much as it moved on 10-july. Around 440 pip movement is rarely seen in eur/usd. But it is still unable to make in top 10 most-volatile-days list if we check past 14 year history.

An interesting fact is that top 10 most volatile days, in past 14 years, are in 2008. Nine of these 10 are in last three months of 2008. In to 50 most volatile days list, in past 14 years, 30 are in 2008.

 

Yesterday was 11th most volatile day in past 14 years.

 

FOMC meeting minutes and then Bernarke's speech caused this volatility in Eur/usd. Technically eur/usd found good support near 27-march low of 1.2752. At the moment, eur/usd has consolidated around 1.3100. For day traders, corrective moves are probable but trend is unclear so I will prefer to stay on hold.

 

Usd also lost to Jpy but not as much as it lost to Eur. Current fall can be a temporary fall. Hourly chart is giving range-bound indications.

 

I am turning bearish on the eurusd now, medium term.....expecting the 1.2750 area to break now and price to go towards 1.25/1.26........providing 1.34 area holds, I will look for reversal patterns

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I am turning bearish on the eurusd now, medium term.....expecting the 1.2750 area to break now and price to go towards 1.25/1.26........providing 1.34 area holds, I will look for reversal patterns

 

1.2750... I dun see corrective moves going this much down. Even though usd data came better than expected but it still remained above 1.3000. I am expecting usd to weaken more against counterparts.

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1.2750... I dun see corrective moves going this much down. Even though usd data came better than expected but it still remained above 1.3000. I am expecting usd to weaken more against counterparts.

 

not this trip...........looking to consolidate around the current levels and to break below 1.2750 until September..........most likely this month, if not, first half of August...........after September to look for a break higher..........for good this time, much higher

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Bearish sentiments were very strong before FOMC minutes but quick reversal has taken the pair well above support zone.

Future of usd will be more clear after U.S sales report and Bernarke's speech next week.

 

Usd weakness is clearly reflected in usd/jpy's performance last week. BoJ's policy remains unchanged so it didnt have much impact on jpy. It is currently trading below 100 and is expected to go below 98.00 next week.

1.png.ead0ffdc77fa21770310c750206747fc.png

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Eur/usd was expected to stay bearish until Retails sales data release which is to be released in another 15 minutes. Market has already gone below key support level of 1.3000 but directional movement is still unclear. I am staying on hold until retail sales data.

 

Usd/jpy has already crossed 100 level. There was a chance of bullish movement towards resistance level of 100.15 but not as sharp as it has moved. It is currently trading just below 100.50.

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Eur/usd was expected to stay bearish until Retails sales data release which is to be released in another 15 minutes. Market has already gone below key support level of 1.3000 but directional movement is still unclear. I am staying on hold until retail sales data.

 

Usd/jpy has already crossed 100 level. There was a chance of bullish movement towards resistance level of 100.15 but not as sharp as it has moved. It is currently trading just below 100.50.

 

I am bearish on the pair, looking for 95 to come again

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After worse than expected retail sales data, usd continues to weaken against major counterparts especially against eur and jpy.

 

Even though eur/usd has been bullish since retail sales data release but it is still not enough to take it out of range-bound movements. Before bernarke's speech, on 18 july, we may see another bearish move towards 1.3000. But if pair crosses 1.3206 then major reversal is not expected.

 

I am bearish on the pair, looking for 95 to come again

 

It depends on bernarke's speech.

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After worse than expected retail sales data, usd continues to weaken against major counterparts especially against eur and jpy.

 

Even though eur/usd has been bullish since retail sales data release but it is still not enough to take it out of range-bound movements. Before bernarke's speech, on 18 july, we may see another bearish move towards 1.3000. But if pair crosses 1.3206 then major reversal is not expected.

 

 

 

It depends on bernarke's speech.

 

well, the entire forex market depends on what Ben says.......in the meantime, usdjpy pierced the 99 level to the downside........95 is coming.....looking for 1.30 in eurusd on the very short term time frame and for the freaking eurjpy to finaly break below 128.50......nothing too fancy.......just a couple of big figures here and there:helloooo:

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eur/usd dropped quickly after bernarke's speech over central bank policy. He said that bank may limit bond purchases by the end of current year. This quick drop was recovered within a couple of hours which reflects that market sentiments are strongly in favor of weaker usd.

 

Usd/jpy retraced after reaching 99.94 and is now expected to reach support level of 98.90. Major support lies at 11-july low of 98.28.

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Usd showed strength after jobless claims data and bernarke speech. Overall movement remains range-bound. Bernarke told that stimulus program is essential for economic recovery and Fed plans to continue it for foreseeable future. He also added that lending rates will remain low.

 

Eur/usd was down after Bernarke's speech but retracement has taken it above 1.3100 again. Technically resistance lies at 1.3177 and then at 1.3206. Support lies at 1.3052 and then at 1.2994.

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