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Bitcoin Continues the Leg Lower

Saturday wasn’t kind to bitcoin. The cryptocurrency fell by $4 d0llars today and the decline isn’t stopping with BTC/USD losing a further $2 dollars in the new trading session. We are currently quoted at $224 flat on BTC-E, $226.20 on BitStamp and $226.33 on OKCoin. It’s been a slow and steady sell-off since the $230 […]

Top Trade Idea for April 24th, 2015 – EUR/GBP

The Euro recently dropped out of a double top pattern against the Pound. Since moving below the double top support (“B”) , it has fallen by an amount almost exactly equivalent to 61.8% of the pattern height. 61.8% is the Fibonacci ratio and it’s quite common for price to stop at this point after completing […]

Chart Of The Day For April 24rd,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro is trying to mount a recovery against the US Dollar as expected after showing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1040, the March 18 high, with a break above that on a daily […]

Oil Higher on Yemen Concerns

Crude oil prices settled up 3 percent on Thursday, hitting 2015 highs, while U.S. gasoline reached 5-month peaks after Saudi Arabia and its allies maintained a bombing blitz in Yemen that heightened concerns about the security of Middle East oil supplies. Oil buyers also stoked the rally with bets that U.S. crude output will shrink […]

Gold – Remains Steady Above $1190

Gold for Friday, April 24, 2015 In the last 24 hours Gold has steadied just above the $1190 level after dropping sharply through the key $1200 level down to below $1190 a couple of days ago. In the last couple of weeks, gold has traded in a narrow range right around the key $1200 level […]

Euro Bears Under Pressure Despite Flash PMIs Seeing Red

EUR fails to rollover on soft flash numbers ECB chief economist sees Europe on growth track Hawkish talk on Greece lifts EUR Far East PMIs reveal significant deterioration Notwithstanding the lack of fundamental data on show this week, the EUR bear has been trying valiantly to build up a head of steam ahead of tomorrow’s […]

Pound May Prove More Responsive Than Euro to Eurozone PMI Data

Talking Points: Eurozone PMIs May Prove More Market-Moving for the Pound vs. the Euro NZ Dollar Slumps as RBNZ’s McDermott Talks Down Rate Hike Possibilities Franc Corrects Higher After Yesterday’s Aggressive SNB-Inspired Decline The preliminary set of April’s Eurozone PMI figures headlines the economic calendar in European trading hours. The region-wide composite index is expected […]

Bitcoin Barely Changed in a Calmer Trading Session

Bitcoin is trading up by $1 dollar in a calmer trading session. After opening at $231.98, BTC/USD first fell to a low of $230.32, only to rally back and hit a high of $233.71 later in the day. Eventually the cryptocurrency closed the day at $231.50, just 48 cents below its opening price. The slow […]

Chart Of The Day For April 23rd,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro pushed higher against the US Dollar as expected following the appearance of a bullish Morning Star candlestick pattern. A daily close above the March 18 high at 1.1040 exposes the 38.2% Fibonacci retracement at 1.1266. Alternatively, a […]

Top trade idea for April 23rd, 2015 – EURUSD

This is the eurusd hourly chart and even if the time frame is so small, it should give us a nice reason for going both short and long. The first step is to short the pair from current levels all the way to making a move below the 1.0518 but the take profit should be […]

West TX Oil at $54.50 as Yemen Bombing Continues

Oil prices extended gains on Thursday as renewed fighting in Yemen brought focus back on potential supply disruptions in the Middle East. Saudi-led coalition warplanes continued bombing Yemen on Wednesday despite an announcement by Riyadh that it was ending its campaign of air strikes. While Yemen itself is not among the biggest oil producers in […]

Gold – Closely Hugs Key $1200 Level

Gold for Wednesday, April 22, 2015 Gold is presently trying to hold onto $1200 after dropping sharply through the $1200 level in the last 48 hours before rallying higher again. In the last couple of weeks, gold has traded in a narrow range right around the key $1200 level and this range seems to be […]

BoE: A Coin Toss on Direction of Next Rate Move

The Bank of England went into self-imposed purdah when the election was called in late March, so the release of the minutes of the April meeting of the monetary policy committee provides the first hint of current thinking inside Threadneedle Street for some weeks. The message from the minutes is modestly hawkish. Sure, the vote […]

British Pound May Rise as BOE Meeting Minutes Reboot Rate Hike Bets

Talking Points: British Pound May Rise as BOE April Meeting Minutes Reboot Rate Hike Bets Aussie Dollar Gains as Core CPI Unexpectedly Rises, Firming RBA Outlook See Economic Releases Directly on Your Charts with the DailyFX News App The release of minutes from April’s Bank of England policy meeting headlines the economic calendar in European […]

Bitcoin Flat After V-Shaped Reversal

Bitcoin ended the session flat after a V-shaped reversal. After opening at $230.79 BTC/USD first rallied to $236.56, hitting a new multi-day high. But from here the sellers took charge and pushed the crypto down to $231.98 at the close. We are currently quoted at $231.35, below yesterday’s close. As usual, prices are trading at […]

Top Trade Idea for April 22nd, 2015 – NZD/USD

The US dollar is easing back a smidge in early US session trade, driven primarily by buying pressure in GBPUSD in the wake of slightly more bullish BOE minutes. As we noted yesterday, the BOE’s current quandary is to weigh how much of the ongoing slowdown in inflation is driven by transitory factors vs. more […]

Chart Of The Day For April 22th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro is digesting gains against the US Dollar after rising as expected after showing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1040, the March 18 high, with a break above that on a daily closing […]

West TX Oil Steady Around $56 on U.S. Inventories

U.S. crude futures held steady on Tuesday as a drop in stockpiles at a key U.S. delivery point offset near record high production in Saudi Arabia and an expected build in U.S. oil inventories. NYMEX crude for May delivery, which expires later in the day, was down 4 cents at $56.34 a barrel by 0000 […]

Gold – Eases Below Key $1200 Level

Gold for Tuesday, April 21, 2015 Gold is presently trying to hold onto $1195 after dropping sharply through the $1200 level in the last 24 hours In the last couple of weeks, gold has traded in a narrow range right around the key $1200 level. It seems gold has an attraction to the key $1200 […]

Greece Committed To EUR’s Downward Trajectory

Dollar finds support across the board Greece committed to the EUR’s downfall ECB applying subtle pressure via banking system German sentiment spooked by Greece The mighty dollar is quietly going about regaining some of its natural pose as the market heads stateside. Greece, on the other hand, remains committed to the EUR’s downward trajectory in […]

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