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FX BAZOOKA: technicals (20.12) Part 1 EUR/USD EUR/USD keeps drifting down. Euro has slid to support at $1.3525. Euro may slide to consolidation area of $1.3620/3520. Data released in Germany was mixed (see the economic calendar). 55-period MA is starting to slope down. The prices dropped...

USD/JPY: Ichimoku analysis (Dec. 20) Daily. USD/JPY continues setting new yearly highs. Although the greenback is strongly overbought, the currency pair is trading above 104.00, in the 104.50 area. All the indicator lines on the daily timeframe are directed upwards, which indicates strong...

USD/CHF: Ichimoku analysis (Dec. 20) Daily. Last week currency pair found support in the 0.8850 area. A"double bottom" was formed on the daily chart and the bulls used it to turn the greenback up. Note the pair was oversold and this contributed to the bullish sentiment. Despite the bearish...

GBP/USD: Ichimoku analysis (Dec. 20) Daily. The pair is apparently finishing consolidation. On the daily chart the prices spend a brief time inside the Tenkan-Kijun channel, and by the the end of the week sterling managed to get to positive territory. The prices haven’t even touched Kijun-sen...

EUR/USD: Ichimoku analysis (Dec. 20) Daily. Last week the pair once again failed to overcome the $1.3800 figure, which led to a corrective decline to the Tenkan-Kijun channel. Pay attention to Chinkou Span, which at that point was in the overbought area. This was an additional incentive for the...

Key currency options (Dec. 20) 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...

Dec. 20: Asian session Asian stocks fell, led by Chinese shares amid concern funding costs for the nation’s lenders will remain high even after the central bank injected cash into the financial system. Japanese Nikkei 225 edged down as investors booked profits before the long weekend in...

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FOMC: consequences for EUR/USD The Federal Reserve announced a plan to cut monthly bond purchases to $75 billion from $85 billion starting from January. In general, market players regard this decision as a sign that American economy is in good shape since the recent data points at the increase...

USD/JPY: trade ideas Kira Iukhtenko, FX BAZOOKA analyst The USD/JPY currency pair soared yesterday by almost 200 pips, posting a fresh 5-year high of 104.40. Buyers’ demand weakened in the Asian trade, but the greenback still holds above the psychological 104.00 support. Yesterday’s USD surge...

Dec. 19: European session EUR/USD is trading in the $1.3680 area after it tested $1.3648 today. Data from the region are generally good, but the market expects news from the region’s leaders. European leaders meet Today is the meeting of the European Council. According to ANZ, there’s “a...

USD/CAD USD/CAD reached the highest level since 2010 at 1.0725. The medium-term uptrend continues. 100- and 50-period MAs turned a bit up. The lines are melded together. So far 50-period MA hasn’t fallen below the 100-period one. RSI (14) is still in the overbought area above 70. The pair’s...

AUD/USD AUD/USD renewed this year’s low by sliding to $0.8821. Aussie was already quite oversold, so here we didn’t see such a big decline as in other pairs. The pair is at the lower Bollinger band and there’s still a small divergence in MACD/RSI, so we expect some correction up. All MAs are...

USD/CHF Bearish pressure on USD/CHF eased as the pair rose from the 2-year low of 0.8832 to 0.8960. The pair broke into the wide bearish Ichimoku and is trading not far from the Cloud resistance now (0.8975). MACD histogram rose into the positive territory (bullish sign). The price rose above...

USD/JPY Bulls have regained control over the pair: USD/JPY rose by almost 200 pips yesterday, touching a new 5-year high of 104.40.The bullish impulse slowed at these levels, resulting in another wave of bearish correction. • USD/JPY holds above the bullish H4 Ichimoku with Kijun-sen crossing...

GBP/USD Market sentiment on the H4 is bullish. Cable is consolidating around $1.6380 after having jumped to $1.6485 post the Fed’s announcement. We remain bullish for the pair as long as it holds above $1.6320. The cable broke above the bearish channel. H4 MACD histogram rose into the positive...

Fed announced $10 bln tapering Farewell surprise from Mr. Bernanke ) The Federal Reserve announced it would cut its monthly bond purchases in January to $75 billion from $85 billion, taking the first step toward unwinding the unprecedented monetary stimulus. “In light of the cumulative...

Key currency options (Dec. 19) 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...

Dec. 19: Asian session US dollar gave back some of the gains it made yesterday as the Fed said it would start tapering QE. USD/JPY corrected a bit from more than 5-year high at 104.36, but is still trading above 104.00. Japanese Nikkei share average jumped by 1.5% this morning. Data on Japan...

Technical forecasts for majors (Dec. 18) Elizabeth Belougina and Kira Iukhtenko, FX BAZOOKA analysts EUR/USD The medium term trend is to the upside. The pair’s consolidating between $1.3800 and $1.3700. Market is in the waiting mode ahead of the important news: oscillators are generally...