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Bitcoin Closing in on $250 Dollars

Bitcoin is slowly closing in on the $250 dollars handle. Today we opened at $239.61 on OKCoin. We stayed flat for most of the session until an afternoon rally took BTC/USD to a daily high of $248.36. We are currently quoted at $246 dollars per coin. The 15 minute OKCoin chart below is from TradingView, […]

Top trade idea for October 6th, 2015 – USD/JPY

A decline from 125.82 is in three waves with first minor three subwaves in A, so we think that pair is in a big downward corrective retracement. Ideally that is a flat with an extended wave C to 116 area where it might already accomplished wave 4) so traders should not be surprised  by a […]

Oil Surges After Gasoline Boost

Crude oil prices rose more than 2 percent on Monday, bolstered by a rally in U.S. gasoline and Russia’s willingness to meet other major oil producers to discuss the market. Higher stock prices on Wall Street provided further support to oil and other dollar-denominated commodities. Global crude benchmark Brent rose by $1.35, or 2.7 percent, […]

Five Things Being Talked About Today

Here are some of the things people in markets are talking about today. 1. European PMIs A Purchasing Managers’ Index for manufacturing and services in the Euro-area fell to 53.6 in September from 54.3 in August Markit Economics said in a report published this morning. The preliminary reading for September had shown a smaller drop […]

Euro Area Growth Slows, More Stimulus Eyed

The euro region’s economic recovery risks faltering after growth momentum eased in September, Markit Economics said. A Purchasing Managers’ Index for manufacturing and services fell to 53.6 in September from 54.3 in August, the London-based company said in a report on Monday. That’s below a Sept. 23 preliminary reading of 53.9. A print above 50 […]

Aussie, NZ Dollars Rise as US Jobs Data Scatters Fed Rate Hike Bets

Talking Points: Aussie, Kiwi Dollars Rise as US Dollar and Yen Drop After Dismal US Jobs Data UK, US and Eurozone PMIs Roundup to Drive Risk Sentiment Trend Development See Economic News Releases Directly on Your Charts with the DailyFX News App The Australian and New Zealand Dollars outperformed in overnight trade, rising alongside an […]

Bitcoin Higher Despite Auction Announcement

Bitcoin is continuing the slow grind higher. Today we closed higher by over $2 dollars, from $236.12 to $238.28. We are currently quoted at $238.25 on BTC-E. The daily chart below shows a very slow but upward sloping trend higher. Today we broke the 10-day high at $237.69. We are now getting close to the […]

Oil Falls 1% as Demand Doubts Rise

Oil prices fell around 1 percent on Friday, heading for a weekly decline, as weaker-than-expected U.S. economic data weighed on the energy demand outlook and Hurricane Joaquin veered away from oil installations in the U.S. East Coast. The dollar’s drop limited losses in oil. The currency fell on concerns that the U.S. economy may still […]

Gold Rises After NFP Stumble and Palladium Surge

Gold held the biggest advance in almost nine months after figures showed that U.S. payrolls rose less than expected and wages stagnated, reducing the possibility of an interest rate increase this year. Palladium climbed to a three-month high. Bullion for immediate delivery was at $1,137.40 an ounce at 8:03 a.m. in Singapore from $1,138.60 on Friday, when […]

US Payrolls Disappoint, Dollar Gives Up Early Gains

Payrolls rose less than projected in September, wages stagnated and the jobless rate was unchanged as people left the workforce, signaling the global slowdown and financial-market turmoil are rippling through the world’s largest economy. The addition of 142,000 jobs followed a revised 136,000 gain the prior month that was lower than previously estimated, a Labor […]

Trade Setups in USD-pairs around September US NFPs

Talking Points: ST EURUSD triangle begins to break lower; $1.1085 critical support. USDJPY remains rangebound, although NFPs could change that. See the DailyFX economic calendar for Thursday, October 1, 2015. Coming into today, the USDOLLAR Index is trading in an intraweek bull flag just below the early-September highs. With the help of a strong September […]

Bitcoin Trading in a $2 Dollars Range Today

Bitcoin is trading in an exceptionally small range of only $2 dollars today. We opened at $236.34 and remained almost flat for the entire session. Bitcoin is currently quoted at $236.83, not even 50 cents higher on the day. Today’s low stands at $235.14 while the high is at $237.19. This puts the daily range […]

Bitcoin Back to Upper Bound After $3 Gain

Bitcoin got back to trading closer to the upper bound after a small $3 dollars rally today. On BTC-E we opened at $234.26. From here we dipped ever so slightly to $233.18 but soon after hitting the lows we rallied back up to a daily high at $237.39. This got us within striking distance of […]

Bitcoin Trading Up and Down All Week

Bitcoin has been trading up and down all week. On Monday we saw a surge in prices from $231 to $237 dollars per coin. But by Wednesday and early Thursday BTC/USD had fallen to a low of $232.40. Thursday afternoon we had another attempt to break higher but we only came as close as $236.99. […]

Top trade idea for October 2nd, 2015 – GBP/AUD

Australia is one of those countries where England is referred to as “the old enemy”. These days, thankfully, the reference is usually confined to sporting contents. Over the weekend, Rugby World Cup hosts the English Red Roses will play against the Australian Wallabies. We turn to GBP/AUD to determine a winner. No doubt there will […]

US Natural Gas Supplies Rise on Thursday

The U.S. Energy Information Administration reported Thursday that supplies of natural gas rose 98 billion cubic feet for the week ended Sept. 25. Analysts polled by Platts forecast a climb of between 98 billion cubic feet and 102 billion cubic feet. Total stocks now stand at 3.538 trillion cubic feet, up 454 billion cubic feet […]

U.S Weekly Claims Point To Firmer Jobs Market

The number of new applications for U.S. jobless benefits rose modestly last week and a gauge of the trend in claims fell, pointing to ongoing tightening in the labor market that could push the Federal Reserve to raise interest rates. Initial claims for state unemployment benefits rose 10,000 to a seasonally adjusted 277,000 for the […]

FX: Final Quarter, But Same Rules Apply

For equities in particular, Q3 ended yesterday solidifying their worst quarterly performance in four-years. In the three- month period, global stocks lost over -$11T in value. In forex, trading ranges have been relatively contained as investors continue to seek central bank directional guidance. Nonetheless, the investing rules are not about to change in the home […]

Pound May Extend Drop as Soft PMI Data Trims BOE Rate Hike Bets

Talking Points: British Pound May Extend Drop as Soft PMI Data Trims BOE Rate Hike Bets US ISM May Set Precedent for Risk Trends’ Response to Shifting Fed Outlook See Economic Releases Directly on Your Charts with the DailyFX News App UK Manufacturing PMI data headlines the calendar in European trading hours. The gauge is […]

Bitcoin Barely Changed Since February

Bitcoin is trading barely changed compared to the opening price of $234.85. In the first half of the session we saw a dip to $232.40. This was followed by a rally back to $236.99 dollars per coin. But as we’ve seen many times this week, whenever BTC get above $236-$237 dollars, the sellers step in […]

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