Top Global Market Stories
Gold has posted losses on Monday, as the metal trades at a spot price of $1285.80 per ounce in the European session. Gold has lost ground following the election win in Greece by a far-left party. There are no US releases on Monday. Greeks went to the polls on Sunday, and the far-left Syriza party […]
Top Trade Ideas
Another week, another bullish scenario for the usdjpy as I am still looking for the currency pair to make a contracting triangle in the and and this current move to the upside to be nothing but a zigzag. The zigzag should be the d wave, then a small correction for the e wave and 122 […]
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- EUR/USD Technical Strategy: Flat
- Support: 1.1123, 1.0992, 1.0830
- Resistance:1.1254, 1.1416, 1.1516
The Euro is working on clearing a path below the 1.10 figure against the US Dollar as prices dip to levels untouched since September 2003. Near-term support is at 1.1123, the 50% Fibonacci expansion, with a break below that on a daily closing basis exposing the 61.8% level at 1.0992. Alternatively, a reversal above the 38.2% Fib at 1.1254 clears the way for a test of the 23.6% expansion at 1.1416.
Risk/reward considerations argue against entering short in line with our long-term outlook with prices in close proximity to support. We will remain flat for now, waiting for a more actionable opportunity to present itself.
Bitcoin’s move up stalled around the $250 mark again. While yesterday’s surge stopped at $247, today’s BTC rally hit a high of $253.87. But BTC/USD couldn’t stay above $250 for long and quickly got sold to a low of $239.07. We are currently trading just off the lows at $242 on BTC-E. As usual, prices […]