The euro has sold off aggressively over the past 24 hours, breaking below at least 3 big figures in the process. After such a strong move, many currency traders wonder if there will be consolidation or continuation. Today’s sell-off in the EUR/USD was the strongest since January 5, 2009 and taking a look [...]

Posted in 2010 eurusd forecast, eur/usd, euro, forex blog 10 Comments »

After the FOMC announcement yesterday, I posted this comparison of the FOMC statement on FX360.com. I am posting it again in case you want to understand exactly what parts of the statement has been changed. EUR/USD did not follow through on its post FOMC rally is now trading below 1.30. That is [...]

Posted in Federal Reserve, euro, forex blog No Comments »

The European stress tests are now behind us and unfortunately they failed to be the buzz kill or euphoric event that was needed to break the EUR/USD out of its recent trading range. The goal of the stress tests was to restore confidence in the European banking sector, but based upon the price action in [...]

Posted in 2010 eurusd forecasts, euro, forex blog 5 Comments »

I was on the Business News Network this afternoon talking about the impact of the EU Stress Tests on the euro. Enjoy! Click on the image to access the video

Posted in eu bank stress tests, eur/usd, euro 7 Comments »

Over the past 48 hours, the U.S. dollar has come under aggressive selling pressure and I think USD/JPY is set to test its year to date low below 87. Here is a chart of the Dollar Index that shows a break of a major trendline which suggests that the dollar’s weakness will not be [...]

Posted in 2009 japanese yen forecast, dollar record low, euro, forex blog 2 Comments »