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Oil prices edged higher on Thursday as the U.S. dollar slipped following weaker-than-expected U.S. non-farm payrolls data. Poll indications that Greek citizens were expected to back a cash-for-reforms deal in a referendum on Sunday added to the bullish momentum, traders said. Traders were also keeping a close eye on nuclear talks between Western powers and […]
Top Trade Ideas
It’s been a lousy week for milk prices but arguably and even worse one for iron ore. This together with today’s soft Aussie retail sales figure has seen $A lose ground against the Kiwi from what looks as though it could be a significant turning point. Weekly Chart A longer term look at AUDNZD shows […]
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- EUR/USD Technical Strategy: Flat
- Support: 1.0964, 1.0818, 1.0682
- Resistance:1.1054, 1.1127, 1.1199
The Euro is facing renewed downward pressure after soaring to close the weekly opening gap against the US Dollar. Near-term support is at 1.0964, the 76.4% Fibonacci retracement, with a break below that on a daily closing basis exposing the May 27 low at 1.0818. Alternatively, a reversal back above the 61.8% Fib at 1.1054 clears the way for a test of the 50% retracement at 1.1127.
The available trading range is too narrow to justify entering a trade in line with our long-term Euro outlookfrom a risk/reward perspective. With that in mind, we will remain flat for now, waiting for price action to offer a more compelling opportunity down the road.
Bitcoin is trading down for a second day. After yesterday’s 5 percent loss, today BTC/USD fell by $3 dollars or 1.1 percent. It was a relatively quiet day, at least when compared to the early part of this week. We opened at $257.50, rallied slightly to $259.94, before falling to a low of $253.50. Prices […]