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Top Trade Idea For December 24th, 2014 – EUR/USD

It is understandably a very quiet day with the stock markets in Italy and Germany closed for the Christmas Eve. Elsewhere, most traders are probably out today too although that does not necessarily mean the markets won’t move. In fact, the lack of volume means there could be bouts of high volatility. Still, that will […]

Chart Of The Day For December 24th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2173, 1.2080, 1.1929 Resistance:1.2246, 1.2324, 1.2418 The Euro dropped for a fifth consecutive day against the US Dollar, setting a new 28-month low against the US Dollar. A daily close below the 61.8% Fibonacci expansion at 1.2173 exposes the 76.4% level at 1.2080. Alternatively, a reversal above the 50% Fib at 1.2249 opens […]

Gold Steady Ahead of Host of US Numbers

Gold is showing little movement on Tuesday, as the spot price stands at $1177.61 per ounce. On the release front, there are a host of US events ahead of the Christmas holiday. There are four key events on the calendar – Core Durable Goods Orders, Final GDP, UoM Consumer Sentiment and New Homes. With the […]

USD Crawls to Fresh Five-Year High as Markets Focus on Rate Contrast

Talking Points: Dollar Crawls to Fresh Five-Year High as Markets Focus on Rate Contrast Euro Finds Too Little Traction, Too Late Yen Crosses Advance after BoJ Downgrades Growth Assessment Dollar Crawls to Fresh Five-Year High as Markets Focus on Rate Contrast A drain in liquidity often translates into a moderation in heavy exposure or one-sided […]

Bitcoin Continues Offensive as Holiday Season Nears

Bitcoin is continuing its attack on the $332 level. Earlier today we bounced off $332.92. After a small retracement to $326.66, BTC/USD is back on the offensive, hitting a high of $334.46 before pulling back. We are currently quoted at the $330 round figure on BTC-E. Prices are higher on other exchanges, $335 on OKCoin […]

Bitcoin: BTC/USD Technical Analysis – 23rd December 2014

Bitcoin gradually climbed to a one-week high of $333 on BTC-e, now trading at $329. Volume continues to be choppy, with periods of sub-100 BTC/hour activity intermittently dispersed with those exceeding 500. Its big hurdle remains the $340 range which, until surpassed, makes it unlikely that the recent retracement will blossom into a larger mid-term […]

Chart Of The Day For December 23rd,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2173, 1.2080, 1.1929 Resistance:1.2246, 1.2324, 1.2418 The Euro paused to digest losses after sinking to a new 28-month low against the US Dollar but positioning hints a move below 1.22 is ahead. Near-term support is at 1.2173, the 61.8% Fibonacci expansion, with a break below that on a daily closing basis exposing the 76.4% […]

The Three Things Fueling FX Market Volatility Throughout 2015

The dearth of currency market volatility in 2014 that sank to historic lows last summer appears to be consigned to history. Put simply, there are too many economic and geopolitical variables that erupted over the latter half of the year that ignited the FX market, and those themes will carry over into 2015. The U.S. […]

Gold Unchanged Ahead of US Housing Numbers

Gold is showing little movement on Monday, as XAU/USD trades slightly below the $1200 level. In the European session, the spot price stands at $1195.94. It could be a quiet week for gold ahead of the Christmas holiday. On the release front, today’s sole event is US Existing Home Sales. The markets are expecting the […]

US Dollar May Rise if Home Sales Top Estimates, Boosting Fed Outlook

Talking Points: New Zealand Dollar Down on Soft 4Q Westpac Consumer Confidence Data Risk Appetite Firms in Overnight Trade, Driving the Aussie Dollar Upward US Dollar May Rise as Home Sales Data Amplifies Fed Rate Hike Outlook The New Zealand Dollar underperformed in overnight trade, falling as much 0.5 percent on average against its leading […]

Bitcoin: BTC/USD Technical Analysis – 22nd December 2014

Bitcoin (BTC/USD) is trading higher today, currently at $326 on BTC-e. Earlier, it continued its choppy ways, spiking to over $332 on a sudden surge in volume to over 1000 BTC/hour. It was BTC’s highest point in six days, a difficult period which saw it nearly break $300. The sudden spike helped it overcome a recent aversion […]

Chart Of The Day For December 22nd,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2173, 1.2080, 1.1929 Resistance:1.2246, 1.2324, 1.2418 The Euro sank to a 28-month low against the US Dollar, with sellers now aiming to breach the 1.22 figure. A daily close below the 61.8% Fibonacci expansion at 1.2173 exposes the 76.4% level at 1.2080. Alternatively, a turn above the 50% Fib at 1.2249 opens the […]

Bitcoin Stuck Between Double Top and Double Bottom

Bitcoin bounced off the important $330 figure again. Earlier today, BTC/USD rallied from $315 per coin to a high of $332.03 before retracing somewhat. We are currently quoted at $325 on BTC-E, $329 on BitStamp and $330 on OKCoin. The chart below shows the price action of the last few days, including the recent double […]

Week in FX – Patient Fed Soothes Jittery Markets

Fed’s message brings season tidings BoJ Keeps Status Quo Abe’s cabinet to approve stimulus soon Market makes a beeline for the ‘turn’ Capital markets are poised to fall silent as the holidays are about to begin in earnest. It’s in hot pursuit of the broad-based risk-on rally that has given U.S. equities their biggest two-day […]

West TX Oil Settles Below $55

Global crude prices fell again on Thursday, a day after a short-covering rally, as traders placed new bets that the market would resume a six-month rout on worries about a supply glut. In early trade, oil extended gains from the previous session, when short-covering lifted prices more than $3 a barrel. But in late morning […]

BoJ remains steady, yet bullish markets push higher

FOMC continues to drive bullish sentiment BoJ keeps stable yet election provides renewed mandate German GFK survey looking to top off strong week. The end of a memorable week in the markets, which seemed likely to go out with somewhat of a whimper given the relative lack of events to get the market moving. However, […]

Yen Down on Risk Appetite Swell But Year-End Flows May Fuel Turn

Talking Points: Return of Year-Capital Flows May Reboot Pre-FOMC Price Action Trends Yen Down, Aussie and NZ Dollars Higher as Risk Appetite Swells Overnight See Economic Releases Directly on Your Charts with the DailyFX News App The safe-haven Japanese Yen slumped while the sentiment-geared Australian and New Zealand Dollar advanced as risk appetite firmed overnight. […]

Bitcoin Little Changed After Volatile 24 Hours

Bitcoin is trading little changed after a volatile 24 hours. Prices rallied from $315 to a high of $330.02 yesterday. But after topping out at $330, BTC/USD proceeded to lose all the gains. We are currently quoted at $315 per coin on BTC-E, $319 on BitStamp and $321 on OKCoin. In our article yesterday, we […]

Bitcoin Double Bottoms Near $300, Next Move Awaited

Bitcoin’s double bottom near $300 survives, for now. Today’s foray lower stopped at $304.98, around $1 dollar higher compared to yesterday’s low at $304.05. Since hitting the lows BTC rebounded somewhat, peeking at $317.50 later in the day. We are currently quoted at $315 per coin on BTC-E. As usual, prices are slightly higher on […]

Top Trade Idea For December 19th, 2014 – USD/RUB

Russian Rouble Roulette It’s hard to go past the Russian rouble as the traders’ choice, given the extraordinary volatility. Extreme price movements demand traders respond with aggressive risk management, but the potential rewards for a good entry are attractive. Trading USD/RUB is not for the inexperienced. However, traders willing to adapt to the environment may […]