Today is Wed, July 30, 2014 23:48:39 GMT
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Currencies

Bitcoin Retests $563, Important $550 Level Eyed

Bitcoin is currently retesting the small support at $563. Earlier in the day, prices bounced of the figure and rallied to $572. We are again staging an attack and the odds are stacked to BTC heading lower. Below $563, the next significant level of support can be found at $550. Lower still, the round psychological […]

Chart Of The Day For July 30th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3396, 1.3324, 1.3208 Resistance:1.3454, 1.3502-12, 1.3583 The Euro fell as expected against the US Dollar after prices put in a bearish Evening Star candlestick pattern. Sellers are now eyeing support at 1.3396, the 61.8% Fibonacci expansion. A daily close below this boundary initially exposes the 76.4% level at 1.3324. Alternatively, a move back above […]

Forex Market Subdued Ahead of FOMC, GDP

Investors appear to be positioning themselves conservatively ahead of the first reading of second-quarter U.S. gross domestic product data tomorrow. It’s no surprise that there is very little movement in the major currency pairs before such a major economic release. Everyone seems comfortable in keeping his or her powder dry ahead of three days of […]

Gold – Looking for Support at $1300 Again

Gold for Wednesday, July 30, 2014 For the few days to start this week gold has been slowly but surely easing back towards the $1300 level where it is now looking for some support.  In recent hours it dropped sharply through this level however it has held up above $1298.  Gold did well at the […]

Europe to open higher as earnings take centre stage

Hang Seng hits near four year high on improving data; Japanese spending figures lift the Nikkei; Lack of economic data could mean more choppiness today; More earnings to come including GSK, BP and Pfizer. European futures are pointing to a slightly positive open on Tuesday following a strong Asian session overnight that saw Japan’s Nikkei […]

US Dollar May Rise Before Key Data on Firming Consumer Confidence

Talking Points: US Dollar May Edge Higher as Consumer Confidence Hits Six-Year High Australian Dollar Followed S&P 500 Futures Lower in Quiet Asian Trade View Economic Data Releases on Your Charts with the DailyFX News App Another quiet day on the European economic data front is likely to see investors looking ahead to US economic […]

Bitcoin Stages Reversal, Trades Back to $582

Bitcoin staged a reversal of the $562 handle yesterday. After hitting $562.98 on BTC-E, the crypto rallied 19 points to close the day at $581.97. From here, everyone’s favorite cryptocurrency moved somewhat lower to hit $572.50 in today’s trading session. One bitcoin is currently quoted at $581 on BTC-E and at $584 on BitStamp. Going […]

Top Trade Idea For July 29th, 2014 –USD/JPY

Good day traders! In today’s update we will take a look at USDJPY as this pair can be very interesting for trading in the next couple of days, maybe even weeks. We can see that market is moving sideways for the last six months. A sideways price action is referred as a correction, in our […]

Chart Of The Day For July 29th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3396, 1.3324, 1.3208 Resistance:1.3454, 1.3502-12, 1.3583 The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern. A daily close below support at 1.3396, the 61.8% Fibonacci expansion, clears the way for a decline to the 76.4% level at 1.3324. Alternatively, reversal back above the 50% […]

This Week: Suit Up, Strap In, And Be Dollar Ready

Last week saw global markets fluctuate between corporate earnings and geopolitical conflicts. There was an excess of negative news out of Israel and eastern Ukraine, with each region’s headlines countering much of the decent U.S. and European quarterly earnings reports. On the whole, the reports were relatively good, despite a couple of curve balls thrown […]

Oil Retreats Awaiting Fed and US Economic Data

West Texas Intermediate and Brent crudes fell before U.S. economic data that may signal slowing growth, curbing fuel use in the biggest oil-consuming nation. Crude in New York slipped for the fourth time in five days amid forecasts that an index of U.S. service industries dropped this month. An upsurge in fighting in Libya hasn’t […]

Rebound likely as USDCHF returns to previous resistance

The USDCHF pair continues to climb following the breakout of a descending channel formation earlier this month. Gradual stepped increases in price action finally led to a break above 0.9035 to find a four month high on Friday and with price now pulling back I expect support to come in at that major previous resistance […]

Fed, NFPs Line Up this Week with USD Technical Breakouts

Talking Points: EURUSD aims below 1.3400, USDCHF above 0.9150. GBPUSD critical support comes in at 1.6920. July forex seasonals in QE era still working against greenback, however. A culmination of factors may be aligning for further US Dollar strength over the coming days, even as the economic calendar comes in rather light until Wednesday. However, […]

Top Trade Idea For July 28th, 2014 – AUD/CHF

As a keen skier, it’s no surprise that Switzerland is one of my preferred European destinations given its slopes, scenery, crisp air and hiking. But during the past year or so, something has been missing. Where are all the Australians? That very distinctive accent has been heard less and less during the past year and […]

Bitcoin Breaks $585, Hits New Monthly Low

The scenario we discussed in our previous daily roundup occurred today as Bitcoin prices broke the small support area at $585. The break happened in the Asian trading session and in less then 3 hours BTC/USD fell almost 20 points to hit a new monthly low of $566. We are currently trading just barely above […]

Chart Of The Day For July 28th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3396, 1.3324, 1.3208 Resistance:1.3454, 1.3502-12, 1.3583 The Euro fell as expected against the US Dollar after prices put in a bearish Evening Star candlestick pattern. Sellers are now eyeing support at 1.3396, the 61.8% Fibonacci expansion. A daily close below this boundary initially exposes the 76.4% level at 1.3324. Alternatively, a move back above […]

West TX Oil Below $102 Before U.S. Economy Data

West Texas Intermediate crude fell for the fourth time in five days amid speculation that economic data may signal slowing growth in the U.S., the world’s biggest oil consumer. Brent also dropped in London. Futures slid as much as 0.6 percent in New York, extending a 1 percent decline last week. A preliminary index of […]

Gold – Bounces Back up Above $1300 Again

Gold for Monday, July 28, 2014 Gold did well at the end of last week to surge higher through the $1300 level back up towards $1310 before easing slightly to start this new week.  Throughout most of last week gold was slowly but surely easing lower below $1305 heading south towards $1300 before bouncing higher.  […]

European futures lower ahead of key UK and German data

Yesterday was very much a day of mixed data, with Japan getting the day off to a bad start with weaker export figures only for Chinese manufacturing data to offset it. This was followed by better than expected Eurozone PMIs but a bad month of retail sales for the UK, before being wrapped up with […]

New Zealand Dollar Down on Eroding RBNZ Rate Hike Outlook

Talking Points: New Zealand Dollar Down as RBNZ Rate Hike Outlook Continues to Erode US Dollar Looks to PMI, Home Sales Data to Set the Tone for a Busy Week View Economic Data Releases on Your Charts with the DailyFX News App The absence of top-tier scheduled event risk left currency markets rudderless in the […]

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