Top Global Market Stories
Bitcoin is trading weaker for a second day. After opening at $252.02 BTC/USD continued the downward momentum, reaching a low of $242.22 in the early US trading session. We are currently trading not far from the daily low at $245 on BTC-E, $251 on both OKCoin and new Coinbase exchange and $253 on BitStamp. The […]
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The sun rises on a new trading day, and traders rolled out of bed particularly eagerly today in anticipation of the Fed’s monetary policy announcement. With a staggering number of central banks across the world turning more dovish over the past two weeks, traders are starting to wonder if the Fed can maintain its moderately […]
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- EUR/USD Technical Strategy: Flat
- Support: 1.1311, 1.1096, 1.0958
- Resistance:1.1444, 1.1659, 1.1832
The Euro may be readying to turn upward against the US Dollar after producing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1444, the intersection of the 23.6% Fibonacci retracement and a falling trend line, with a break above that on a daily closing basis targeting the 38.2% level at 1.1659. Alternatively, a turn below the 14.6% Fib at 1.1311 clears the way for a test of the January 26 low at 1.1096.
We expect any on-coming EURUSD strength to be corrective, in line with our long-term outlook. With that in mind, we will treat upside momentum as an opportunity to enter short at a more attractive level and remain on the sidelines in the interim.
Bitcoin (BTC/USD) has fallen below $250, now testing its next support point of $240, which has been held for over 72 hours. It is currently trading at $248 on BTC-e. The $240 mark has provided some stability and served as the platform for BTC’s sharp rise to over $300. That rally, which was possibly motivated […]