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Chart Of The Day For April 1st,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0640, 1.0456, 1.0386 Resistance:1.0797, 1.0894, 1.1051 The Euro is aiming at support below the 1.07 figure against the US Dollar after putting in a Bearish Engulfing candlestick pattern. Near-term support is at 1.0640, the 38.2% Fibonacci expansion, with a break below that on a daily […]

West TX Oil Drops Below $46.50 as Iran Nuclear Talks Drag On

U.S. crude futures edged up on Wednesday, following a more than 7 percent decline over the past three days, as Iran and world powers negotiated beyond a Tuesday deadline, raising uncertainty over a nuclear deal that could add to a global crude glut. Nymex crude for May delivery was up 9 cents at $47.69 a […]

Gold – Remaining Steady Around $1185

Gold for Wednesday, April 1, 2015 Despite easing in the last few days to below $1185, for the best part of the last couple of weeks gold has moved strongly off the support at $1150 up to a three week high right around $1220 level. It eased back to the key $1200 level to finish […]

Record EUR Shorts Looking to IMF for Clues

Beware of short trading week moves BoE on two-month hiatus Look to U.S. jobs for rate clue Beware of weather-related anomalies in NFP With Good Friday making it a holiday-shortened trading week for most currency traders, many would likely prefer to escape this month unscathed to begin the second quarter next week. However, with U.S. […]

Next Leg Lower in EUR-crosses in Focus after Weaker CPI

Talking Points: EURUSD breaks below key $1.0800 support, now eyes $1.0612. EURGBP, EURJPY lose respective uptrends from March lows. See the March forex seasonality report for trends in the QE-era. Short-term technicals are realigning with longer-term bearish inclinations across the EUR-complex. EURUSD’s H4 MACD and Stochastic bearish crossovers have appeared alongside price losing its uptrend […]

Bitcoin Down $4 Dollars, More Silk Road Controversy

Bitcoin is continuing the yo-yo price action. After yesterday’s gain of $7 dollars today we are down by $4. The cryptocurrency just can’t seem to string together a few days of either gains or losses. We have been trading between the $235 and $250 mark for the past few days. Here’s a chart of today’s […]

Chart Of The Day For March 31th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0806, 1.0456, 1.0244 Resistance:1.1051, 1.1263, 1.1513 The Euro is digesting gains after rallying as expected against the US Dollar following the appearance of a bullish Piercing Line candlestick pattern. A daily close above the march 26 high at 1.1051 exposes the 38.2% Fibonacci retracement at […]

Oil to Stabilize in 2H According to Reuters Poll

Oil prices should stabilise in the second half of this year and rise in 2016 and 2017 as consumers respond to a period of much cheaper fuel, a Reuters poll of analysts showed on Monday. The survey of 34 analysts predicted North Sea Brent crude LCOc1 would average $59.20 a barrel in 2015, up from […]

Gold – Drops Sharply Below Key $1200 Resistance Level

Gold for Tuesday, March 31, 2015 For the best part of the last couple of weeks gold has moved strongly off the support at $1150 up to a three week high right around $1220 level, before easing lower back towards the key $1200 level to finish out last week. It has started this week easing […]

Record EUR Shorts Looking to IMF for Clues

Beware of short trading week moves BoE on two-month hiatus Look to U.S. jobs for rate clue Beware of weather-related anomalies in NFP With Good Friday making it a holiday-shortened trading week for most currency traders, many would likely prefer to escape this month unscathed to begin the second quarter next week. However, with U.S. […]

Euro to Look Past German CPI, Focus on Greece Funding Woes

Talking Points: Euro to Look Beyond German CPI, Focus on Greece Developments Aussie, NZ Dollars Drop Amid Commodities-Driven Risk Aversion Access Real-Time FX Markets Analysis with DailyFX on Demand The preliminary set of March’s German CPI figures headlines the economic calendar in European hours. The benchmark year-on-year inflation rate is expected to register at 0.3 […]

Bitcoin Bounces Off $235, Silk Road Plot Thickens

Bitcoin ended the short losing streak today by bouncing off the $235 mark. After opening at $238.22, BTC/USD fell to a low of $234.08, briefly piercing the $235 support. But bitcoin spent less the 30 minutes below the mark and soon the bulls pushed prices back above the figure. By the end of day, a […]

Chart Of The Day For March 30th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0832, 1.0456, 1.0244 Resistance:1.1051, 1.1263, 1.1513 The Euro rose as expected against US Dollar after producing a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.1051, the March 26 high, with a break above that on a daily closing basis exposing the 38.2% Fibonacci […]

West TX Oil Drops to Near $47 on Iran Deal

Oil prices dipped in Asian morning trading on Monday, adding to steep losses in the previous session, as Iran and six world powers tried to reach a deal that could add oil to the market if sanctions against Tehran are lifted. Iran and six world powers tried to break an impasse in nuclear negotiations on […]

Gold – Key $1200 Resistance Level Stands Firm Again

Gold for Monday, March 30, 2015 For the best part of the last couple of weeks gold has moved strongly off the support at $1150 up to a three week high right around $1220 level, before easing lower back towards the key $1200 level to finish out last week. It has started this week easing […]

EUR/USD – Euro Slips from Lofty Heights

Street waits for Yellen this afternoon Middle East Tensions subside Forex liquidity remains at a premium Market trying to avoid lopsided trades over Q1 end U.S. dollar buyers are back with a vengeance as the street waits to close out the week once U.S gross domestic product data has been released this morning, and more […]

Is the USDOLLAR Establishing a Bottom?

Talking Points: USDOLLAR Index holds daily 34-EMA as support. EURUSD main driver behind broader USDOLLAR rebound. See the March forex seasonality report for trends in the QE-era. The rapid build in short positioning ahead of the FOMC meeting brought the market back in line with the extreme positioning seen in early-February (196.3K net-short contracts for […]

Bitcoin Down $12, Nears Previous Support

Bitcoin is trading down by $12 dollars today. After opening at $249.15 prices rose slightly to $250.75 but from here it was down all the way. By mid-day we had hit $238.12. A second arch lower took BTC/USD to $235.99, just 59 cents away from the March 25th swing low. We are currently trading at […]

Bitcoin Slightly Up, Mined BTC Close to $14M Mark

Bitcoin closed today up just over $3 dollars. After opening at $245.79, BTC/USD rallied to a high of $252.26 around mid-day. The BTC couldn’t stay above the $250 mark for long and soon a sell-off took prices to $249.01 where the crypto closed off the session. Both BitStamp and OKCoin are trading $2 dollars above […]

Bitcoin Flat Again, OKCoin Changes Margin Rules

Bitcoin is trading flat again. After opening the day at $245.62, prices first fell by over 4 dollars to $240.99. From here we rallied higher, reaching $248 in the morning session. But the highs didn’t last either and soon BTC/USD fell back down to its daily opening price at $245. We are currently quoted at […]

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