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Moves above 61.8% retracement of the move down from the March high The price technically has moved above the swing hi going back to April 6 at 109.373 and its 61.8% retracement of the move down from the March high to the May low. That level comes in at 109.520.  The high price extended to 109.669 so far.

Back below a hourly trend line The EURUSD has moved lower after the surprise employment report that showed job gains of 2.5 million vs expected declines of -7.5 million.  

The USD is mixed ahead of the US employment report As the market maneuver ahead of the US employment report which is expected to show a -7.5M decline in jobs with the unemployment rate reaching 19% (from 14.7% last month), the NZD is the strongest and the CHF is the weakest.  The USD is down/mixed […]

The dollar recoups some losses in European mid-morning trade For bank trade ideas, check out eFX Plus The pair touched a high of 1.1384 earlier in the session before backing off a little to around 1.1350 levels but has now eased further to a session low of 1.1326.

USD/CAD is keeping lower on a softer dollar amid the more positive risk mood For bank trade ideas, check out eFX Plus The pair is still flirting around its 200-day MA (blue line) @ 1.3464 as the risk rally extends, helping to keep the dollar weaker on the session.

AUD/JPY looks to take out another key level on the way up For bank trade ideas, check out eFX Plus The pair is continuing to run with the break above its key daily moving averages amid the risk rally, with the move then coinciding with the AUD/USD breaking above its own key technical levels as […]

GBP/USD gains by 0.5% as the dollar slips to start the session For bank trade ideas, check out eFX Plus As cable pushes gains on the day, it is nearing a test of the 200-day MA (blue line) @ 1.2678 once again. This has been the level that limited its upside move back in April […]

Fed continues the taper This is still a massive amount of bond buying. At $4B per business day, it's around $88B per month, which is more than double the pace of QE3, which was $40B/month.

Comments by ECB chief economist, Philip Lane – ECB stands ready to adjust all of its instruments as appropriate – Market fragility underlines continued need for central bank to be flexible For bank trade ideas, check out eFX Plus

ECB members continue to reaffirm their decision from yesterday For bank trade ideas, check out eFX Plus