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Forex Analytics

Danske Bank: trade signals for Feb. 6

 

Open positions:

 

USD/JPY: Hold LONG at 117.35, TAKE PROFIT 118.92, STOP LOSS 116.62

 

USD/CHF: Hold LONG at 0.8755, TAKE PROFIT 0.9445, STOP LOSS 0.9168 (revised)

 

AUD/USD: Hold LONG at 0.7773, TAKE PROFIT 0.7942, STOP LOSS 0.7723 (revised)

 

EUR/GBP: Hold SHORT at 0.7500, TAKE PROFIT 0.7307, STOP LOSS 0.7565

 

EUR/CHF: Hold LONG at 1.0195, TAKE PROFIT 1. 0700, STOP LOSS 1.0469 (revised)

 

EUR/CAD: Hold LONG at 1.4250, TAKE PROFIT 1.4645, STOP LOSS 1.4110

 

GBP/JPY: Hold LONG at 175.85, TAKE PROFIT 182.45, STOP LOSS 178.10 (revised)

 

NZD/USD: Hold LONG at 0.7330, TAKE PROFIT 0.7495, STOP LOSS 0.7275

 

Trade ideas

 

EUR/USD: Possibly BUY at 1.1391/95

 

GBP/USD: BUY at 1.5260, TAKE PROFIT 1.5486, STOP LOSS 1.5215 (revised)

 

EUR/JPY: BUY at 133.97, TAKE PROFIT 136.68, STOP LOSS 132.50

 

USD/CAD: Possibly BUY

 

__________________________________

 

*Danske Bank applies trailing stop orders

 

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MARKET NEWS

Feb. 9: FOREX NEWS

 

FXBAZOOKA.com - US dollar remains supported by the better-than-expected payrolls data. 10-year Treasury note yield jumped to a near one-month high of 1.965% on Friday before taking some wind out of the dollar's surge by pulling back to 1.922%. USD/JPY is trying to break above the 119.00 handle.

 

AUD/USD opened with a gap down hurt by the concerns about the slowdown of Chinese economic growth. Data released on Sunday showed that China’s trade performance slumped in January, with exports falling 3.3% from year-ago levels while imports tumbled 19.9%.

 

EUR/USD opened with a gap down below 1.1300, but then rose above this level. Greece’s new Prime Minister Alexis Tsipras announced his anti-austerity government program on Sunday and rejected the extension to the nation’s current bailout.

 

Here are the data releases to watch today:

Feb%209%20economic%20calendar.jpg

 

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Posted
Forex Analytics

Danske Bank: trade signals for Feb. 9

 

Open positions*:

 

USD/JPY: Hold LONG at 117.35, TAKE PROFIT 119.77, STOP LOSS 117.58 (revised)

 

USD/CHF: Hold LONG at 0.8755, TAKE PROFIT 0.9445, STOP LOSS 0.9168

 

AUD/USD: Hold LONG at 0.7773, TAKE PROFIT 0.7942, STOP LOSS 0.7723

 

NZD/USD: Hold LONG at 0.7330, TAKE PROFIT 0.7495, STOP LOSS 0.7275

 

GBP/JPY: Hold LONG at 175.85, TAKE PROFIT 183.35, STOP LOSS 179.50 (revised)

 

EUR/GBP:  Hold SHORT at 0.7500, TAKE PROFIT 0.7307, STOP LOSS 0.7520

 

Trade signals:

 

EUR/USD: SELL at 1.1390, TAKE PROFIT 1.1098, STOP LOSS 1.1445 (revised)

 

EUR/JPY: BUY at 134.30, TAKE PROFIT 137.31, STOP LOSS 133.40

 

USD/CAD: BUY at 1.2470, TAKE PROFIT 1.2775, STOP LOSS 1.2350

 

EUR/CAD: SELL at 1.4240, TAKE PROFIT 1.3805, STOP LOSS 1.4390

 

GBP/USD: SELL

 

EUR/CHF: SELL

 

___________________________________________________________

 

*Danske Bank applies trailing stop orders (moved together with the price)

 

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Posted
Forex Analytics

Forex trading plan for Feb. 10

 

Strong US labor market figures released on Friday took the market by surprise. As a result, the EUR/USD and GBP/USD bullish recovery stopped dead. EUR/USD got rejected by resistance in the 1.1360 area. There will be some support at 1.1260, but we expect the euro to drift towards 1.1200 in the coming sessions. Watch French industrial production figures at 07:45 GMT on Tuesday. Greek parliament will vote on confidence to the government.

 

GBP/USD failed to close above 1.5300 on Friday and may test levels below 1.5100. Support is at 1.5033/00. Next bearish target is seen at 1.4815. The UK will release manufacturing production at 09:30 GMT on Tuesday (a slowdown from +0.7% to +0.3% is expected). Watch the January NIESR GDP Estimate at 15:00 GMT.

 

USD/JPY faced resistance in the 119.20 area and turned down aiming for support at 118.00 and 117.30. 

 

AUD/USD has opened the week with a gap down, but then found support in the 0.7760 area and erased losses. Resistance is at 0.7850 and 0.7900. Support is at 0.7760 and 0.7720. Australia is scheduled to release January NAB Business Confidence tonight at 00:30 GMT. NZD/USD pushed higher on Monday, but holds below the 0.7445 resistance (38.2% Fibonacci). Next bullish target lies at 0.7520.  

 

Note that China will release a bunch of important figures at 1:30 GMT: if inflation declines, the market will be waiting for more monetary stimulus. Such expectations may support the Australian and New Zealand dollars which are proxies for the optimism about Chinese economy.

 

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Posted
MARKET NEWS

Feb. 10: FOREX NEWS

 

FXBAZOOKA.com - EUR/USD is consolidating above 1.1300 after dipping to 1.1270 on Monday. The market players await the meeting of the euro area’s finance ministers on Wednesday.

 

Chinese consumer inflation hit a 5-year minimum, encouraging hopes that the nation will increase monetary stimulus. Commodity currencies were supported by such expectations as well as by the notional bottoming-out of oil prices. AUD/USD edged up to 0.7840. NZD/USD rose t o0.7440. USD/CAD slid a bit to 1.2450.

 

USD/JPY is trading slightly on the downside after it failed to break above the resistance at 119.30 yesterday. Concerns about Greece deteriorate the market’s risk sentiment increasing demand for safe haven Japanese yen.

 

Here are the main events to watch today:

calendar%20feb%2010.jpg

 

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Posted
Forex Analytics

Danske Bank: trade signals for Feb. 10

 

Open positions*:

 

EUR/USD: Hold SHORT AT 1.1310, TAKE PROFIT 1.1098, STOP LOSS 1.1401

 

USD/JPY: Hold LONG at 117.35, TAKE PROFIT 119.77, STOP LOSS 117.58 (revised)

 

USD/CHF: Hold LONG at 0.8755, TAKE PROFIT 0.9445, STOP LOSS 0.9168

 

AUD/USD: Hold LONG at 0.7773, TAKE PROFIT 0.7942, STOP LOSS 0.7723

 

GBP/JPY: Hold LONG at 175.85, TAKE PROFIT 183.35, STOP LOSS 179.50 (revised)

 

EUR/GBP:  Hold SHORT at 0.7500, TAKE PROFIT 0.7307, STOP LOSS 0.7520

 

USD/CAD: Hold LONG at 1.2470, TAKE PROFIT 1.2775, STOP LOSS 1.2350

 

EUR/JPY: Hold LONG at 134.30, TAKE PROFIT 137.31, STOP LOSS 133.40

 

NZD/USD: Hold LONG at 0.7330, TAKE PROFIT 0.7495, STOP LOSS 0.7275

 

Trade signals:

 

EUR/CHF: SELL

 

EUR/CAD: SELL

 

GBP/USD: SELL

 

_____________________________________________

 

*Danske Bank applies trailing stop orders (moved together with the price)

 

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Posted
Forex Analytics

Forex trading plan for Feb. 11

 

By: Kira Iukhtenko

 

Market sentiment on Tuesday remained fragile amid the increasing worries about the Greece’s future and the Ukrainian crisis. Meanwhile, expectations of the US rate hike support the American currency against the counterparts. Recovery on the oil market continues. US will release crude oil inventories data on Wednesday.

 


 

EUR/USD hovers around the 1.1300 mark. Eurogroup meeting will be the major event to watch on Wednesday: are the European financial officials ready to compromise? Any progress in the Greek question will render temporary support for the euro, but the overall picture remains negative. Any recoveries will likely be capped by the 1.5000/30 area. Next support lies at 1.1260, but we expect the euro to drift towards 1.1200 in the coming sessions if there is no good news for Greece.

 

GBP/USD holds above the 1.5200 mark, but the bullish demand is limited. UK released weak December manufacturing production figures on Tuesday (+0.1% versus +0.3% expected). There are no releases to watch on Wednesday, the market will be focused on the BOE inflation report that comes on Thursday. The inflation and economic forecasts can be lowered. Support for the cable is seen at 1.5033/00. Next bearish target lies at 1.4815. 

 

USD/JPY pushed higher, testing the 119.20 area to the upside. Daily close above this mark would open the way to our next bullish target at 120.00 yen. USD/CHF consolidates below the 200-day MA at 0.9300.

 

Commodity block currencies remain under slight bearish pressure despite the increased expectations for monetary stimulus in China. AUD/USD remains supported at 0.7760 (short-term bullish trend line). Break lower would open the way to 0.7700. Watch Westpac consumer sentiment and new loans data tomorrow. NZD/USD holds in the 0.7445/7340 sideways range with the risks still skewed to the downside. 

 

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Posted
MARKET NEWS

Feb. 11: FOREX NEWS

 

FXBAZOOKA.com - Asian session was quite because Japanese markets are closed for a public holiday.

 

EUR/USD is flat just above 1.1300. The single currency remains under pressure because of uncertainty over a new debt deal for Greece. The nation didn’t manage to reach a new debt agreement without the austerity program. Euro area’s finance ministers meet later today in Brussels to discuss Greece’s problems ahead of the EU summit on Thursday. You can read more about the meeting here.

 

USD/JPY hit 1-month high at 119.66 yen. US currency was supported by gains in Treasury yields: 10-year yield rose above 2% on Tuesday for the first time in a month on the expectations that the Federal Reserve will raise interest rates by the middle of the year. In addition, the Bank of Japan Governor Haruhiko Kuroda said there was no criticism from the G20 of Japan’s aggressive easing that had driven the yen lower.

 

AUD/USD is trading on the upside, just below 0.7800. Australian currency strengthened after domestic data showed strong consumer confidence and a robust housing market.

 

Here are the events to watch today (see more in the economic calendar):

11-02-2015%20economic%20calendar.jpg

 

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Posted
Forex Analytics

Danske Bank: trade signals for Feb. 11

 

Open positions:

 

EUR/USD: Hold SHORT at 1.1310, TAKE PROFIT 1.1098, STOP LOSS 1.1401

 

USD/JPY: Hold LONG at 117.35, TAKE PROFIT 120.43, STOP LOSS 118.29 (revised)

 

USD/CHF: Hold LONG at 0.8755, TAKE PROFIT 0.9445, STOP LOSS 0.9168

 

AUD/USD: Hold LONG at 0.7773, TAKE PROFIT 0.7942, STOP LOSS 0.7723

 

USD/CAD: Hold LONG at 1.2470, TAKE PROFIT 1.2775, STOP LOSS 1.2350

 

EUR/JPY: Hold LONG at 134.30, TAKE PROFIT 137.31, STOP LOSS 133.40

 

EUR/GBP: Hold SHORT at 0.7500, TAKE PROFIT 0.7307, STOP LOSS 0.7520

 

EUR/CAD: Hold LONG at 1.4225, TAKE PROFIT 1.4645, STOP LOSS 1.4125

 

GBP/JPY: Hold LONG at 175.85, TAKE PROFIT 183.35, STOP LOSS 180.15

 

NZD/USD: Hold LONG at 0.7330, TAKE PROFIT 0.7495, STOP LOSS 0.7320 (revised)

 

Trade ideas:

 

GBP/USD: SELL at 1.5320, TAKE PROFIT 1.5139, STOP LOSS 1.5380

 

EUR/CHF: SELL

 

__________________________________________________________

 

*Danske Bank applies trailing stop orders (moved together with the price)

 

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Posted
MARKET NEWS

Key option levels

 

11 February 2015

 

FXBAZOOKA.com - Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (15:00 GMT). 

 

Here are the key options expiring today:

 

EUR/USD: 1.1250 (EUR 223m), 1.1295 (EUR 509m), 1.1300 (EUR 304m), 1.1450 (EUR 269m), 1.1470 (EUR 433m);

 

GBP/USD: 1.5100 (GBP (1.6bln), 1.5225 (GBP 308m), 1.5300 (GBP 833m), 1.5400 (GBP 290m);

 

USD/JPY: 118.50 (USD 272m), 119.00 (USD 1.6bln), 119.50 (USD 452m), 120.00 (USD 380m);

 

USD/CAD: 1.2300 (USD 1bln), 1.2445/50 (USD 630m);

 

AUD/USD: 0.7750 (AUD 200m);

 

EUR/JPY: 135.00 (EUR 554m).

 

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Posted
Forex Analytics

Forex trading plan for Feb. 12

 

Elizaveta Belugina

 

On Wednesday US dollar remained supported with the US yields near 1-month highs. USD/JPY rose above 120.00. Next resistance levels are at 120.80 and 121.80. Support is in the 119.20/00 area.

 

AUD/USD is testing support at 0.7720. Below this level the pair can test 0.7600/0.7590. Watch Australian employment data at 00:30 GMT tomorrow: the forecasts are negative. Resistance is at 0.7850.

 

GBP/USD is making another test of the 7-month downtrend resistance line supported by the decline of EUR/GBP. Pound looks resilient despite lower than expected data from the UK on Tuesday. The Bank of England will release inflation report tomorrow commented by Governor Mark Carney. If the central bank forecasts negative inflation, sterling will get seriously hit.

 

At the moment of writing EUR/USD is consolidating in a very narrow range around 1.1300 preparing for a violent move as traders get more nervous. Support is at 1.1210 and resistance is at 1.1440. The EU economic summit will take place on Thursday. Here you can read more on the schedule of the Greek talks.

 

Later in the day on Thursday watch the US retail sales data: according to the forecasts, the figures will be better than in the previous release, but the indicator will still decline. This should limit the strength of the USD bulls.

 

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Posted
MARKET NEWS

Feb. 12: FOREX NEWS

 

FXBAZOOKA.com - The market remains in the situation of great uncertainty. Euro initially jumped on CNBC headlines that a Greece agreement had been reached 'in principle'. Further information showed, however, that no deal was reached between Greece and other euro zone governments on Wednesday. EUR/USD is in the 1.1300/1355 area. The European Council’s meeting is to take place later on Thursday, and the market participants await comments from the European political leaders on the Greek question.

 

Risk sentiment also depends on geopolitical developments as France, Germany, Russia and Ukraine negotiated in Belarus through Wednesday night and into Thursday morning in order to defuse the escalating conflict in eastern Ukraine. However, there are fears that the peace deal wouldn’t last long. USD/JPY edged down a bit after rising almost to 120.50 on Wednesday, but is still trading above the 120 handle.

 

Crude oil rebounded as Saudi Arabia and Russian energy giant Gazprom discussed cooperation between OPEC and its non-OPEC oil producers. US crude oil rose by 1.3% to $49.45 a barrel after dropping as much as 3% overnight as US stockpiles hit record highs.

 

AUD/USD fell below 0.7650 after weak jobs data increased prospects for further easing by the Reserve Bank of Australia. The nation’s unemployment rate jumped from 6.1% to 6.4%.

 

Here are the main economic events for today:

12-02-2015%20economic%20calendar.jpg

 

More:


Posted
MARKET NEWS

Key option levels

 

12 February 2015

 

FXBAZOOKA.com - Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (15:00 GMT). 

 

Here are the key options expiring today:

 

EUR/USD: 1.1335 (EUR 876m);

 

GBP/USD: 1.5000 (GBP 300m);

 

USD/JPY: 119.00 (USD 2.3bln), 119.25/30 (USD 515m), 120.75/80 (USD 1.25bln), 121.00 (USD 2.6bln);

 

AUD/USD: 0.7700 (AUD 3.4bln), 0.7800 (AUD 2.6bln);

 

NZD/USD: 0.7700 (NZD 402m);

 

EUR/GBP: 0.7400, 0.7475 (EUR 216m).

 

More:


Posted
Forex Analytics

Danske Bank: trade signals for Feb. 12

 

Open positions:*

 

EUR/USD: Hold SHORT at 1.1310, TAKE PROFIT 1.1098, STOP LOSS 1.1401

 

USD/JPY: Hold LONG at 117.35, TAKE PROFIT 121.00, STOP LOSS 119.15 (revised)

 

USD/CHF: Hold LONG at 0.8755, TAKE PROFIT 0.9445, STOP LOSS 0.9168

 

USD/CAD: Hold LONG at 1.2470, TAKE PROFIT 1.2775, STOP LOSS 1.2445 (revised)

 

EUR/JPY: Hold LONG at 134.30, TAKE PROFIT 137.31, STOP LOSS 134.02

 

NZD/USD: Hold LONG at 0.7330, TAKE PROFIT 0.7495, STOP LOSS 0.7320

 

EUR/CAD: Hold LONG at 1.4225, TAKE PROFIT 1.4645, STOP LOSS 1.4125

 

GBP/JPY: Hold LONG at 175.85, TAKE PROFIT 184.40, STOP LOSS 181.95

 

Trade ideas:

 

GBP/USD: SELL at 1.5310, TAKE PROFIT 1.5139, STOP LOSS 1.5380

 

AUD/USD: SELL at 0.7725, TAKE PROFIT 0.7580, STOP LOSS 0.7800 (revised)

 

EUR/GBP: SELL

 

EUR/CHF: BUY

 

__________________________________________________________

 

*Danske Bank applies trailing stop orders (moved together with the price)

 

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Posted
Forex Analytics

Forex trading plan for Feb. 13

 

EUR/USD sits tight in the 1.1355/1.1270 area. The Greek debt deal is put off until the next week. The main questions are whether the bailout is extended and on what conditions as well as what happens to Greek banks. As there’s a hope for compromise, euro’s holding its ground. There’s a risk of a short squeeze to the upside on positive news about Greece. On Friday watch the releases of French, German and the euro area GDPs (06:30-10:00 GMT). So far euro didn’t react much to the economic data releases, and Friday may be no different.  

 

USD/JPY didn’t stay above 120 for a long time and spiked down to 118.72 before once again recovering to the 119.50 area. The pair fluctuated on the news about the Ukraine. There also were some reports that Bank of Japan’s officials are concerned about the negative effects of additional stimulus. Plus US retail sales data was a big disappointment. Still, USD/JPY has breached a big wedge/triangle to the upside, so the medium-term outlook is bullish. If the support at 119.20 and 118.70 (55-day MA) holds, it will be a good sign.

 

GBP/USD jumped to 1.5365 as the Bank of England’s Governor Mark Carney said that the next move of the central bank will likely be to raise interest rates. For now traders have turned optimistic about GBP. As long as support at 1.5185/1.5200 holds, the odds will be of sterling rising to 1.5475. Note that pound faces resistance at 1.5380 (55-day MA, bottom of the bearish daily Cloud).


AUD/USD was hit as the worries that the Reserve Bank of Australia will cut interest rates in March have returned. It would be interesting to see what the RBA’s Governor Stevens has to say about the unexpected surges in Australian unemployment as he speaks tonight. Aussie can fall towards 0.7550 if he sounds dovish. Resistance is at 0.7700 and 0.7786. 

 

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Posted
MARKET NEWS

Feb. 13: FOREX NEWS

 

FXBAZOOKA.com - Risk sentiment is positive on news of a ceasefire accord in Ukraine, hopes of a close deal between Greece and its creditors and the rate cut in Sweden.

 

EUR/USD rose to 1.1440. The euro area will release GDP for Q4 at 10:00 GMT: economists expect a stagnant growth of 0.2%. Concerns about the future of Greece eased as the nation agreed to begin technical talks with its euro zone partners ahead of the decisive meeting on Monday in attempt to find a compromise solution of the bailout problem.

 

Oil prices were firm after gains steered by deeper industry spending cuts and lower USD. Brent crude futures held at $59.10 per barrel.

 

USD/JPY found some support at 118.40. The level of 119.10 is now a resistance. GBP/USD is trying to hold above 1.5400. AUD/USD rose to 0.7790 as the RBA’s Governor Glenn Stevens said nothing really new and didn’t provide additional verbal pressure on the national currency.

 

The economic calendar for today:

13-02-2015%20economic%20calendar.jpg

 

More:


Posted
Forex Analytics

Danske Bank: signals for Feb. 13

 

OPEN POSITIONS*:

 

EUR/CHF: LONG AT 1.0510, TAKE PROFIT 1.0800, STOP LOSS 1.0525

 

EUR/CAD: LONG AT 1.4225, TAKE PROFIT 1.4645, STOP LOSS 1.4150

 

USD/JPY: LONG AT 119.30, TAKE PROFIT 121.86, STOP LOSS 118.29

 

USD/CHF: LONG AT .8755, TAKE PROFIT 0.9445, STOP LOSS 0.9168

 

AUD/USD: SHORT AT .7725, TAKE PROFIT 0.7580, STOP LOSS.7800

 

EUR/JPY: LONG AT 135.55, TAKE PROFIT 137.64, STOP LOSS 134.59

 

TRADE IDEAS:

 

EUR/USD: BUY at 1.1363, TAKE PROFIT 1.1499, STOP LOSS 1.1298

 

USD/CAD: SELL at 1.2545, TAKE PROFIT 1.2314, STOP LOSS 1.2650

 

GBP/JPY: BUY at 182.00, TAKE PROFIT 187.30, STOP LOSS 180.15

 

NZD/USD: BUY at 0.7400, TAKE PROFIT 0.7551, STOP LOSS 0.7350

 

GBP/USD: BUY 

 

EUR/GBP: SELL

 

______________________________________

 

*Traders apply trailing stop orders

 

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Posted
MARKET NEWS

Feb. 16: FOREX NEWS

 

FXBAZOOKA.com - EUR/USD edged up as traders hope that by the end of the day the euro zone finance ministers will find solution of the Greek financial problems. In the US today is the bank holiday (the Presidents’ Day).

 

USD/JPY is trading in the 118.55 area after touching levels above 120.00. According to the data released on Sunday, Japanese GDP increased by 0.6% in the final 3 months of 2014 after sliding by 0.5% in the previous quarter. Such improvement made investors reduce bets on additional monetary stimulus from the Bank of Japan.

 

GBP/USD edged up to 1.5440. Pound is supported by the recent hawkish-sounding comments of the Bank of England’s policymakers. Both Governor Mark Carney and his deputy, Ben Broadbent, have said the next move in interest rates is likely to be up. Martin Weale, a policymaker at the central bank, added that the central bank will need to start raising interest rates sooner than investors expect as inflation recovers from current low levels.

 

Among commodity currencies, the Canadian dollar strengthened a bit as USD/CAD declined on signs of a bottom in oil prices. On Friday Brent crude hit a 2015 high above $60 a barrel.

 

The main events for today:

16-02-2015%20economic%20calendar.jpg

 

More:


Posted
Forex Analytics

Danske Bank: trade signals for Feb. 16

 

Open positions*:

 

USD/CHF: Hold LONG from 0.8750, TAKE PROFIT 0.9445, STOP LOSS 0.9168

 

AUD/USD: Hold SHORT from 0.7725, TAKE PROFIT 0.7580, STOP LOSS 0.7800

 

EUR/JPY: Hold LONG from 135.55, TAKE PROFIT 137.64, STOP LOSS 134.59

 

EUR/CHF: Hold LONG from 1.0510, TAKE PROFIT 1.0800, STOP LOSS 1.0525

 

EUR/CAD: Hold LONG from 1.4225, TAKE PROFIT 1.4645, STOP LOSS 1.4150

 

Trade ideas:

 

EUR/USD: BUY at 1.1383, TAKE PROFIT 1.1534, STOP LOSS 1.1298

 

GBP/USD: BUY at 1.5350, TAKE PROFIT 1.5500; STOP AT 1.5265

 

GBP/JPY: BUY at 182.00, TAKE PROFIT 187.30, STOP LOSS 180.15

 

NZD/USD: BUY at 0.7450, TAKE PROFIT 0.7609, STOP LOSS 0.7405

 

USD/JPY: BUY at 117.90/80

 

USD/CAD: SELL

 

EUR/GBP: SELL

 

_____________________________________________________________

 

Danske Bank applies trailing stop orders (moved together with the price)

 

More:


Posted
Forex Analytics

Forex trading plan for Feb. 17

 

By Kira Iukhtenko

 

EUR/USD consolidates above 1.1400 on Monday. Euro is supported by expectations that the euro zone finance ministers will find a solution of the Greek financial problems by the end of the day. There is hope that even if a compromise can't be reached - the ECOFIN meeting on Tuesday is another chance. You should also watch the February ZEW economic indices for euro zone (51.3 expected) and Germany (56.2 expected) tomorrow (10:00 GMT). Next bullish targets for EUR/USD are seen at 1.1500/30 and at 1.1670 and could be hit on the positive news from Greece or strong ZEW indices. On the other hand, a decline below the intraday support of 1.1360 would open the way down to 1.1280.

 


 

GBP/USD holds above the 55-day MA (1.5360), but is trading in the red zone. The cable is trying to enter the daily Ichimoku, supported by the BOE’s Carney hawkish speech delivered last week. Don’t miss the UK inflation figures tomorrow at 9:30 GMT. CPI is expected to have slowed from 0.5% to 0.3% in January, so the release contains a bearish risk for the pound inside. Next resistance lies at 1.5475 (23.6% Fibo), while support – at 1.5350 and 1.5200. The nearest future will show how sustainable the current rally is.

 

USD/JPY stopped dead in the 118.30/70 range. Today we’ve got some upbeat news from Japan: GDP increased by 0.6% in Q4 2014 after sliding by 0.5% in the previous quarter. Expectations for additional monetary stimulus from the Bank of Japan declined. Tomorrow there are no releases on the Japan’s agenda. The BOJ monthly meeting takes place on Wednesday.

 

NZD/USD was a big mover on Monday, gapping higher on upbeat New Zealand Q4 retail sales figures. Kiwi approached 50% Fibo from the late-January decline (0.7520). Break higher would open the way to 0.7600/20. AUD/USD consolidates around 0.7780 following the last week’s dip below the 0.7700 figure. Watch the RBA monetary policy meeting minutes at 00:30 GMT on Tuesday – we’ll see how dovish the regulator sounds. The release will impact both the Aussie and the kiwi. 

 

Monday is a bank holiday in the United States. On Tuesday the Empire State Manufacturing Index will be released (forecast - downbeat). On Wednesday markets will focus on FOMC meeting minutes. This publication will likely define the market sentiment towards the US dollar more clearly. 

 

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Posted
MARKET NEWS

Feb. 17: FOREX NEWS

 

EUR/USD fell from the levels above 1.1400 to the 1.1320 area. Euro fell as Greece and the euro area didn’t reach agreement on further financing of the country. Greek finance minister Yanis Varoufakis rejected a proposal to request a 6-month extension of the bailout program. Still the euro’s decline is limited as most traders expect a debt deal to be made at the last minute. The head of the Eurogroup Jeroen Dijsselbloem said that Greece has until Friday to request an extension. Varoufakis said that Greece will return to negotiating as it’s willing to extend the current aid program, but only on the right terms. “We are ready and willing to do whatever it takes to reach an honorable agreement over the next 2 days,” he stated.

 

Commodity currencies are holding their ground versus USD. AUD/USD is trading on the upside in the 0.7800 area. According to the minutes of the Reserve Bank of Australia’s February meeting, the central bank debated whether to cut interest rates this month or next, but then decided to do it earlier.

 

USD/JPY is little changed in the 118.50 area. GBP/USD is trading just above 1.5350 waiting for the UK inflation data.

 

Here are the most important evens for today:

17-02-2015%20economic%20calendar.jpg

 

More:


Posted
Forex Analytics

Danske Bank: trade signals for Feb. 17

 

Open positions*:

 

EUR/USD: Hold LONG from 1.1383, TAKE PROFIT 1.1534, STOP LOSS 1.1298

 

USD/CHF: Hold LONG from 0.8755, TAKE PROFIT 0.9445, STOP LOSS 0.9168

 

AUD/USD: Hold SHORT from 0.7725, STOP LOSS 0.7800, Possibly BUY

 

EUR/CHF: Hold LONG from 1.0510, TAKE PROFIT 1.0800 FIRST, STOP LOSS 1.0525

 

EUR/CAD: Hold LONG, Possibly SELL

 

GBP/JPY: Hold LONG from 182.00, TAKE PROFIT 187.30, STOP LOSS 180.15

 

Trade signals:

 

GBP/USD: BUY at 1.5325, TAKE PROFIT 1.5500, STOP LOSS 1.5265

 

EUR/JPY: SELL at 134.80, TAKE PROFIT 132.73, STOP LOSS 135.60

 

EUR/GBP: SELL at 0.7457, TAKE PROFIT 0.7307, STOP LOSS 0.7517

 

NZD/USD: BUY at 0.7475, TAKE PROFIT 0.7609, STOP LOSS 0.7405

 

USD/JPY: BUY at 117.88/67

 

USD/CAD: Possibly SELL

 

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*Traders apply trailing-stop orders (moved together with the price)

 

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Posted
Forex Analytics

Forex trading plan for Feb. 18

 

EUR/USD recovered to the 1.1440 area. The fate of Greece remains undecided, but the market remains hopeful. However, it looks like the final decision won’t be made until Friday. The uncertainty may give bears the power to push the pair to 1.1300 and lower. On Wednesday the ECB will review the program which currently allows Greek banks to get liquidity from the Bank of Greece. If the ECB bans the program, this will add more pressure on Greek politicians to accept the bailout and thus can render the euro support after an initial decline.

 

The overall market sentiment about the US dollar in general will depend on America’s statistics (building permits, PPI, industrial production) and the FOMC meeting minutes. Let me remind you that USD strengthened after the Fed’s January meeting as the central bank improved estimates of the US economy. At the same time, the central bank has a wait-and-see approach, so we don’t expect big hints on further interest rates moves.

 

GBP/USD may be forming a wedge. The pair’s still feeling pressure from the daily Ichimoku Cloud. Lower than expected British inflation data has diminished the enthusiasm of the bulls. In addition, the decline of EUR/GBP has paused. Support for GBP/USD is at 1.5260 and then in the 1.5155 area. Resistance is at 1.5480 and 1.5540. Watch the UK labor market data and the Bank of England’s meeting minutes at 09:30 GMT. Members of British central bank will likely votes to keep rates unchanged. This may calm the bulls.

 

USD/JPY is facing resistance at 119.20. The top at 120.47 is still dominating the market. Support is in the 188.30 area. A decline below this point will trigger a bigger selloff activating a head & shoulders pattern. During the Asian session pay attention to the Bank of Japan’s meeting. No further monetary stimulus is expected, and this may increase demand for JPY.

 

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Posted
MARKET NEWS

Feb. 18: FOREX NEWS

 

EUR/USD is consolidating just at 1.1400. The European Central Bank will decide later today whether to maintain emergency lending to Greek banks which have so far been rapidly losing deposits. If the ECB refuses to increase the ceiling on the emergency lending assistance, Greek banks will get in trouble as they have almost used up all 65 billion euros granted so far.

 

Chinese Lunar New Year holidays started today, so some Asian markets will be closed in the coming days. As a result, currency trading during the Asian session should be calmer, though news will have bigger impact on exchange rates.

 

AUD/USD is trading above 0.7800 supported by the news of the proposed $5.1 billion takeover of Toll Holdings, Australia’s biggest freight firm, by Japan Post Holdings.

 

USD/JPY is trading in the 119.20 area after an initial decline to 118.87. The Bank of Japan left monetary policy unchanged, but upgraded its assessment of exports and output.

 

18-02-2015%20economic%20calendar.jpg

 

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Posted
Forex Analytics

Danske Bank: trade signals for Feb. 18

 

Open positions*:

 

EUR/USD: Hold LONG from 1.1383, TAKE PROFIT 1.1534, STOP LOSS 1.1298

 

USD/JPY: Hold LONG from 118.70, TAKE PROFIT 120.48, STOP LOSS 117.98

 

GBP/USD: Hold LONG from 1.5325, TAKE PROFIT 1.5500, STOP LOSS 1.5265

 

USD/CHF: Hold LONG from 0.8755, TAKE PROFIT 0.9445, STOP LOSS 0.9168

 

EUR/CHF: Hold LONG from 1.0510, TAKE PROFIT 1.1002, STOP LOSS 1.0548 (revised)

 

GBP/JPY: Hold LONG from 182.00, TAKE PROFIT 187.30, STOP LOSS 181.00 (revised)

 

Trade ideas:

 

AUD/USD: BUY at 0.7775, TAKE PROFIT 0.7907, STOP LOSS 0.7715

 

EUR/JPY: BUY at 135.05, TAKE PROFIT 137.64, STOP LOSS 133.90

 

EUR/GBP: SELL AT 0.7457, TAKE PROFIT 0.7307, STOP LOSS 0.7517

 

NZD/USD: BUY at 0.7475, TAKE PROFIT 0.7619, STOP LOSS 0.7405

 

EUR/CAD: SELL

 

__________________________________________________________

 

*Traders apply trailing-stop orders (moved together with the price)

 

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