SaxoTV

Coleman: Can the Dollar’s rise be stopped

480 views
November 04, 2014 dollar, dollar index, dollar index 4 year high, ecb, ecb euro, ecb meeting, ecb news, ecb policy, ecb rate, ecb rate cut, ecb rate decision, ecb rates, ecb rates decision, economic data, economy, euro, eurusd, forex, forex 2014, forex 2014 outlook, forex buying, forex eurusd, forex exchange, forex idea, forex market, forex market overview, forex markets, forex saxo bank, forex strategy, forex trade idea, forex trade ideas, forex trading, forex trading 2014, fx, fx crosses, fx eurusd, fx forex, fx investing, fx market, fx markets, fx options, fx saxo bank, fx spot, fx strategy, fx trade, fx trade idea, fx trades, fx trading, fx volatility, ian coleman, ian coleman first 4 trading, saxo, saxo bank, saxo bank saxo tv, saxo bank trading, saxo bank trading floor, saxo bank tradingfloor.com, saxo tv, saxo tv saxo bank, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, trade eurusd, trade idea, trade view, traders tale, traders tale ian coleman, traders tale saxo tv, trading, trading idea, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com insights, tradingfloor.com saxo tv, tradingfloor.com trade ideas, us dollar, us economy, us government, us growth, usd, usdjpy 114.21, yen

Over the past week, the dollar has hit new multi-year highs against the yen and the euro pushing the dollar index to a four-year high of USD 87.406. Ian Coleman from First 4 Trading is looking to sell EURUSD after disappointing euro zone economic data added further pressure on the euro. On Monday the euro hit a two year low of USD 1.2390 against the dollar.

Investors are calling for further quantitative easing measures from the European Central Bank, ahead of Wednesday’s scheduled meeting. Cries for added QE measures escalated after the Bank of Japan shocked the market last Friday with an increase in their annual asset purchase program to 80 trillion yen. The announcement caused the dollar to hit a seven year-low against the dollar at 114.21. The weakening global economy has pushed the dollar to these new multi-year highs. Further gains for the dollar are expected this week, with investors expecting positive signs from the US Jobs report out on Friday.
 
With a break of previous support at USD 1.2500, Ian is looking to sell EURUSD at the market open. He is targeting a move lower towards USD 1.2493 and USD 1.2450. A stop can be placed at USD 1.2570.
Ian Coleman is a technical and he contributes to Saxo Bank's social trading platform. 
 

Disclaimer

Saxo Bank Group provides an execution-only service. All information provided on Tradingfloor.com is solely for general information. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. Saxo Bank Group will not be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available as part of the Tradingfloor.com or as a result of the use of the Tradingfloor.com.

Please read our notification on

Non-independent investment research disclaimer

Full disclaimer