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Bitcoin Back Up, Higher by 6$ Dollars

Bitcoin is back up and currently over $6 dollars higher compared to the open. We opened at $253.62, then fell to retest the $250 dollars mark. After the bears were unable to push prices lower, bitcoin rallied. We closed the day at $255.80, only $2 dollars above the open. But in the first 2 hours […]

Bitcoin Trading Mixed as Losses Slow Down

Bitcoin is trading mixed on different exchanges as the losses slow down. Let’s start with BTC-E first. Two days ago we lost $3 dollars, yesterday $2.50 and today BTC/USD closed down by only $1.59. After opening at $255.21 bitcoin fell to a low of $252.50 by mid-day. But the lows were quickly bought up and […]

Top Trade Idea for July 3rd, 2015 – Sell AUD/NZD

It’s been a lousy week for milk prices but arguably and even worse one for iron ore. This together with today’s soft Aussie retail sales figure has seen $A lose ground against the Kiwi from what looks as though it could be a significant turning point. Weekly Chart A longer term look at AUDNZD shows […]

Oil Rises After NFP Disappointment

Oil prices edged higher on Thursday as the U.S. dollar slipped following weaker-than-expected U.S. non-farm payrolls data. Poll indications that Greek citizens were expected to back a cash-for-reforms deal in a referendum on Sunday added to the bullish momentum, traders said. Traders were also keeping a close eye on nuclear talks between Western powers and […]

Gold – Drops to Three Month Low Below $1160

Gold – Friday 3 July 2015 Throughout the last couple of weeks gold has steadily declined and fallen from above the key $1200 level back to below $1160 and a three month low. Earlier this week it surged higher to back above the key $1180 level before easing lower again. In the few days prior […]

Markets Temporarily Bulled up for NFP Headline

Market focus temporarily shifts from Greece to U.S. payrolls Investors expect strong NFP print after yesterday’s ADP Trading to be hampered by liquidity constraints Sweden’s Riksbank flatfoots market again This morning’s focus temporarily shifts from Greece to the U.S., where the granddaddy of economic indicators, the nonfarm payrolls (NFP) report, could give up a subtle […]

US Dollar May Rise on Jobs Data, NZ Dollar Drops on Dairy Slump

Talking Points: Upbeat Jobs Data May Boost US Dollar, Drive Broad-Based Risk Aversion NZ Dollar Down as Dairy Prices Slump, Fueling RBNZ Rate Cut Speculation See Economic Releases Directly on Your Charts with the DailyFX News App The New Zealand Dollar underperformed in overnight trade, falling as much as 0.5 percent on average against its […]

Bitcoin Down for a Second Day

Bitcoin is trading down for a second day. After yesterday’s 5 percent loss, today BTC/USD fell by $3 dollars or 1.1 percent. It was a relatively quiet day, at least when compared to the early part of this week. We opened at $257.50, rallied slightly to $259.94, before falling to a low of $253.50. Prices […]

Chart Of The Day For July 2nd ,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0964, 1.0818, 1.0682 Resistance:1.1054, 1.1127, 1.1199 The Euro is facing renewed downward pressure after soaring to close the weekly opening gap against the US Dollar. Near-term support is at 1.0964, the 76.4% Fibonacci retracement, with a break below that on a daily closing basis exposing […]

Top trade idea for June 2nd, 2015 – USDJPY

Here we are ahead of the US jobs reports and US dollar is on a tear higher virtually against everything and positioning seems to be extreme ahead of the event. I would still favor the downside on the usdjpy pair as with current gap over the previous weekend an important support level has been broken […]

West TX Oil Below $57 after Progress on Iran Nuclear Deal

Reports that foreign ministers will review draft text of an Iran nuclear deal are “very premature and not accurate,” a senior U.S. official told NBC News on Wednesday. Earlier, U.S. crude broke below its two-month trading band earlier on reports that an Iranian diplomat said technical experts from Iran and six world powers had finished […]

Gold – Drops to Near Three Week Low Below $1170

Gold – Thursday 2 July 2015 Throughout the last couple of weeks gold has steadily declined and fallen from above the key $1200 level back to below $1170 and a three week low. A few days ago it surged higher to back above the key $1180 level before easing lower again. In the few days […]

GBPUSD – Cable Seeking Bullish Confirmation

Cable is looking much more bullish since breaking though the 233-day simple moving average a couple of weeks ago and now it faces a key test of its bullishness, with the retest of that key SMA.When a big support or resistance level is broken, a key test of the quality of the break can be […]

USD/CAD on Cusp of Breakout as EUR/USD Retreats

Talking Points: EURUSD back down towards $1.1100 after Greek letter circus. USDCAD breaking through TL from March, June highs. See the DailyFX economic calendar for Wednesday, July 1, 2015. The USDOLLAR Index is looking on firmer ground after yesterday’s recent uptrend retest. We’re not just talking about the individual components of the index, in particular […]

Bitcoin Experiences 5 Percent Retracement

After hitting the $270 level yesterday, bitcoin experienced a significant retracement. Prices fell from a high of $269.30 to a low of $254.99 today. This is a fall of $14 dollars or just over 5 percent, in less then 24 hours. We are currently testing the June 17th high at $256.75 dollars. Earlier attempts to […]

Top Trade Idea For July 1st, 2015 – USD/CHF

The constant barrage of Greek headlines continues unabated, with the latest batch of rumors suggesting variously that the “no” votes for this weekend’s referendum are gaining momentum, that the Greek government will cancel this weekend’s referendum, that a breakthrough deal between Greece and her creditors is imminent, and that the two sides are further apart […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1127, 1.1054, 1.0964 Resistance:1.1199, 1.1290, 1.1345 The Euro returned to levels prevailing before the sharp gap and subsequent upswing at the open of the trading week. A daily close below the 50% Fibonacci retracementat 1.1127 exposes the 61.8% level at 1.1035. Alternatively, a turn above […]

OPEC Oil Output Hits 3 Year High in June

OPEC oil supply in June has climbed to a three-year high due to record or near-record output from Iraq and Saudi Arabia, a Reuters survey found, underlining the focus of the group’s top exporters on market share. The boost from the Organization of the Petroleum Exporting Countries puts output further above its target of 30 […]

Gold – Pressure Mounts on Key Support

Gold may have got a boost at the start of the week from the Greek turmoil, benefiting greatly from its safe haven status, but it continues to look heavy from a technical standpoint.There remains a couple of key support levels in this being $1,170 and $1,162.79. The former has been a solid support for some […]

Greece’s Tsipras and Month End Demand to Keep Traders Guessing

Asset prices still dominated by contagion and risk aversion Greek PM to tease markets until officially in arrears Month-end demand to play havoc with asset prices Yen the favorite in flight scenario For the remainder of this week, market moves are to be dominated by contagion and risk aversion, but most likely not to the […]

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