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Bitcoin Decline Pauses, More Exchange News

Bitcoin paused the decline near the $226 mark today. On BTC-E prices got as low as $212 before reversing course. The subsequent rally took BTC/USD to a daily high of $233.52. We are currently trading just below the highs at $228 flat. As usual, prices are slightly higher on OKCoin at $331 and BitStamp at […]

Chart Of The Day For January 29th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1206, 1.1074, 1.0859 Resistance:1.1444, 1.1659, 1.1832 The Euro may have completed a bottom against the US Dollar marked by the formation of a bullish Morning Star candlestick pattern. A daily close above the intersection of the 23.6% Fibonacci retracement and a falling trend line at 1.1444 exposes […]

Top Trade Idea For January 29th, 2015 – USDCHF

January was clearly the CHF month as the SNB dropping the 1.20 eurchf peg brought a higher chf all over the dashboard. However, I started to like the usdchf pair as from a technical point of view the whole move lower seems to be an impulsive move that ends a flat pattern on the bigger […]

Oil Remains in the Dumps

Oil prices opened up weak on Thursday in Asia after record U.S. stockpiles sent it tumbling to near six year lows in the previous session, and analysts said that the outlook remained weak. U.S. crude prices tumbled on Wednesday after the U.S. reported record-high inventories that raised anxieties about the global oil glut that had […]

Will Yellen and the Fed Change the Record?

Singapore’s MAS flatfoots market Central banks want to recalibrate rate policies Will the Fed change record? Can the “big” dollar be contained by FOMC’s decision? Central banks that are unwilling to commit to something monetary, either through action or verbally, are in danger of keeping their own domestic currencies supported. Monetary authorities are in the […]

Gold – Continues to Consolidate in Narrow Range Above $1280

Gold for Thursday, January 29, 2015 Gold has enjoyed a very solid last few weeks as it has surged to a five month high near $1308, before easing back a little in the last several days remaining above $1280 in the process. To start last week it had just eased back a little and steadied […]

Dollar Suffers First Two-Day Drop In 7 Weeks Before Fed

Talking Points: Dollar Suffers First Two-Day Drop In 7 Weeks Before Fed Euro Traders Should Be Cautious as Currency Extends Rebound After Greek Election British Pound Climbs after UK GDP Posts Strongest Growth Pace Since 2007 Dollar Suffers First Two-Day Drop In 7 Weeks Before Fed The Dow Jones FXCM Dollar Index (ticker = USDollar) […]

Bitcoin: BTC/USD Technical Analysis – 28th January 2015

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 […]

Bitcoin Trades Weaker for a Second Day

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 […]

Top Trade Idea For January 28th, 2015 – USD/JPY

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 […]

Chart Of The Day For January 28th,2015 – EUR/USD

By Ilya Spivak 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 […]

West TX Oil Remains Around $45

WTI crude rose more than 3 percent on Tuesday as a weaker dollar propped up commodities priced in the currency, prompting short-covering in a market that has sold off with little pause over the past seven months. Even so, gains in oil were capped by fears of another large build in U.S. crude stocks, traders […]

Swiss Central Bank Takes Another Swipe at the EUR

SNB rumors hurts EUR Currency pairs trying to take a breather Recycle EUR’s to improve portfolio average Stateside weather postpones debt issues As most of the east coast of the U.S. focuses on the “historic” snowstorm of all proportions, rumored Swiss National Bank (SNB) action during the European session this morning has taken a swipe […]

Gold – Consolidates in Narrow Range Below $1300

Gold for Wednesday, January 28, 2015 Gold has enjoyed a very solid last few weeks as it has surged to a five month high near $1308, before easing back a little in the last several days. To start last week it had just eased back a little and steadied below the $1280 level after surging […]

Pound May Rise as 4Q UK GDP Data Boosts BOE Rate Hike Bets

Talking Points: British Pound May Rise as Firm 4Q GDP Figures Boost BOE Rate Hike Bets Australian Dollar Edges Higher on Swelling Risk Appetite in Overnight Trade See Economic Releases Directly on Your Charts with the DailyFX News App The preliminary set of fourth-quarter UK GDP figures headlines the economic calendar in European trading hours. […]

Bitcoin Falls $12, More Coinbase News

Bitcoin continued the decline today, falling by another $12 dollars. After opening the day at $264.08 BTC/USD traded down to a low of $241 by mid-day. The fledgling cryptocurrency spent the rest of Tuesday recouping some of the losses, eventually closing at $252 flat. We are currently quoted at $254 on BTC-E, $263.50 on BitStamp […]

Top Trade Idea For January 27th, 2015 – AUD/USD

On Aussie we have seen another leg down last week, beneath 0.8000. Based on the latest decline and extended structure from the past few months, we suspect that market will not bottom so soon. We are looking at an updated count now that shows we are in wave five of (3) so price will be […]

Chart Of The Day For January 27th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1123, 1.0992, 1.0830 Resistance:1.1254, 1.1416, 1.1516 The Euro paused to consolidate losses against the US Dollar after cautiously dipping below the 1.11 figure. A daily close below the 50% Fibonacci expansionat 1.1123 exposes the 61.8% level at 1.0992. Alternatively, a turn above the 38.2% Fib at 1.1254 […]

Pricing EUR’s QE, Not Future Greek Talks Just Yet

Syriza win ‘big’ Form coalition with center-right fringe party EUR touched sub €1.11 new-lows Market pricing QE vs. anti-austerity talks Greece’s radical left-wing Syriza party is set to become the first anti-austerity party to lead a eurozone nation. Most of the market had expected Syriza leader Alexis Tsipras and his party would be victorious, but […]

West TX Oil Drops Below $45 on Global Glut

Crude oil fell to the lowest in almost six years after OPEC Secretary-General Abdalla El-Badri said that there was about 1.5 million barrels a day of excess supply. Oil slipped 1 percent in New York, reversing an intraday gain of 1.8 percent that followed comments by El-Badri that OPEC is open to talks with outside […]

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