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Day: December 21, 2015
December 212015
USD/RUB Short on Technical Analysis
I know, it has been only three days since I have closed my USD/RUB buy, but I have just went short on USD/RUB based on some pretty evident technical analysis factors. The currency pair is consolidating inside the ascending triangle on the weekly chart. During two previous instances of USD/RUB hitting the upper resistance (January and August), the pair retreated back to the lower trendline. I expect the same retracement this time too: […]
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December 212015
Will EUR/USD Continue to Parity in 2016? Poll
About a year ago, I have asked you about the possibility of EUR/USD reaching parity in the year 2015. As of now, it looks like the most voted option — Not this year — turned to be the correct one. Of course, there is a small chance of EUR/USD falling to the bottom during the remaining 9 trading sessions (8 if you cross out Christmas), but it does not look like a real possibility to me. […]
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December 212015
Euro Holds Onto Gains Even with Uncertainty in Spain
The euro is holding on to some of its recent gains today, even with uncertainty over what’s happening in Spain. However, the euro’s gains might be short-lived, as the fate of economic reforms in Spain are in doubt, and as the US dollar is expected to gain ground in the coming year. Over the weekend, Spain held elections, and no party won a clear mandate to govern. This situation means uncertainty for what’s next for the Spanish economy. Economic […]
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December 212015
Indonesian Rupiah Rallies, Future Still Looks Bleak
The Indonesian rupiah rallied against the US dollar strongly, rising more than 1 percent today. Yet analysts are still worried that the future looks bleak for the currency. The current trading environment is adverse to riskier currencies of emerging markets due to the interest rate hike from the Federal Reserve, the drop of commodities and the economic slowdown in China. Indonesian policy makers have limited ability to support the rupiah as their foreign-currency reserves […]
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December 212015
NZ Dollar Gains as Economic Data Helps
The New Zealand dollar rallied today, gaining on its US peer for the second consecutive trading session and rising versus the Japanese yen as well. Economic data released from New Zealand at the start of this week’s trading was beneficial to the currency. The Westpac Consumer Confidence rose from 106.0 to 110.7 this month. The reports about tourism and credit card spending were also encouraging. Now, market participants wait for the trade balance […]
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