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Bitcoin Futures Continue to Discount Prices

Bitcoin fell $7 dollars in today’s trading session. After opening at $227 flat, BTC/USD slowly fell to a low of $220.24. After a brief respite, the cryptocurrency continued the sell-off 6 hours later, reaching a daily low of $219.43. We are currently trading very close to the lows at $220.90 on BTC-E. As usual, bitcoin […]

Top trade idea for April 17th, 2015 – EUR/AUD

Better than expected employment data in Australia this week saw the AUD make further gains against the EUR, pushing EUR/AUD lower.  However, a bounce off previous support in EUR/AUD to complete a double top formation could see a significant reversal of the seven big figure fall over the last nine trading days. A surprise fall […]

Chart Of The Day For April 17th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro pushed higher against the US Dollar as expected following the appearance of a bullish Morning Star candlestick pattern. A daily close above the March 18 high at 1.1040 exposes the 38.2% Fibonacci retracement at 1.1266. Alternatively, a […]

Brent Crude – Triangle Top at Breaking Point

Having spent much of the day paring yesterday’s gains, Brent crude has taken off again this afternoon and finds itself back at the top end of the range it’s traded in this year. The result of the consolidation this year has been an ascending triangle forming which is quite a bullish set up, regardless of […]

Gold – Remains Steady Around $1200

Gold for Friday, April 17, 2015 In the last week or so, gold has traded in a narrow range right around the key $1200 level where it presently sits. It seems gold has an attraction to the key $1200 level as every time it ventures away it returns quickly to trade right around it. A […]

Grexit Fears Has Yields Tumbling and EUR Crosses Under Pressure

German bund yields print new record lows Grexit fears has spreads widening further Risk aversion pummels EUR crosses Commodity currencies find needed support Global yields continue to tumble, mostly on fear or lack of returns and modest growth prospects. It’s beneficial for investors to understand the relationship between various yields spreads to comprehend some of […]

US Dollar Looks to Fed-Speak for Lifeline, Aussie Soars on Jobs Data

Talking Points: Aussie Dollar Soars as Jobs Data Tops Forecasts, Denting RBA Rate Cut Bets US Dollar Looks to Fed Commentary for a Lifeline After Two Days of Losses See Economic Releases Directly on Your Charts with the DailyFX News App The Australian Dollar outperformed in otherwise quiet overnight trade, rising as much as 1.1 […]

Bitcoin Adds to Gains, ”BitLicense” Coming Soon

Bitcoin added to yesterday’s gains. After opening at $218.91, BTC/USD slowly rallied to a high of $225.49. Here we flat-lined for several hours before proceeding higher. Near the end of the session a new high of $228.04 was reached. We are currently trading not far from the highs at $226.67 on BTC-E. As usual, prices […]

Chart Of The Day For April 16th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0461, 1.0246, 0.9997 Resistance:1.0712, 1.0955, 1.1040 The Euro may be readying to turn higher against the US Dollar after prices put in a bullish Morning Star candlestick pattern. Near-term resistance is at 1.0712, the March 31 low, with a break above that on a daily […]

Top trade idea for April 16th, 2015 – GBPCAD

What I am targeting here is nothing but a rising wedge for the gbpcad cross as the 2-4 trend line of the bigger degree impulsive move has been broken yesterday. Actually it is quite interesting as the spike higher yesterday has been sold aggressively on Bank of Canada being quite pleased with the way the […]

Gold – Yet Again Returns to Key $1200 Level

Gold for Thursday, April 16, 2015 In the last week or so, gold has eased below the key $1200 level again before rallying back above it in the last 24 hours. It seems gold presently has an attraction to the key $1200 level as every time it ventures away it returns quickly to trade right […]

US Open – Futures Higher as Oil Continues Rally

US futures are pointing to a stronger open again on Wednesday supported by another day of gains in oil prices which has so far provided a lift to stock markets in Europe. Brent and WTI are on course for a fourth advancing session in five as the stabilisation in the dollar eases the pressure on […]

USD/CAD – Loonie Head Fake Hurts Bears and Threatens Dollar Low

CAD Bulls have the hammer Poloz: Oil shock front loaded for Canada Loonies three-month range in danger of being broken No new surprises from the ECB The BoC held rates as expected this morning. Governor Poloz sees oil price shock dissipating and repeated that the oil impact was more front-loaded and that it would not […]

Dollar Skittish Below 12 Year High Risk, Monetary Policy Themes Heat Up

Talking Points: Dollar Skittish Below 12 Year High Risk, Monetary Policy Themes Heat Up Euro: What Should we Expect from the ECB, Greece Today? Australian Dollar Holds Precarious Floor after Chinese GDP Hits 6-Year Low Dollar Skittish Below 12 Year High Risk, Monetary Policy Themes Heat Up With the USDollar testing the 12-year highs established […]

Bitcoin Retraces Some of the Losses

Bitcoin retraced some of the losses accrued during the previous two days. After opening at $215.14 on BTC-E, prices rallied slowly till they reached a high of $222.31. We have since eased up somewhat with bitcoin currently quoted at $219 per coin. Here’s an updated 1 Hour chart of BTC/USD. Taking into account the fact […]

Top Trade Idea For April 15th, 2015 – USD/RUB

The USD/RUB is hovering inside a significant support area around 48.55 to 50.75. The lower end of this range corresponds with an old resistance-turned-support level and a bullish trend line, while the upper end is the 61.8% Fibonacci retracement level of the last significant upswing from the June 2014 low. Meanwhile the 200-day moving average […]

Chart Of The Day For April 15th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0461, 1.0246, 0.9997 Resistance:1.0712, 1.0930, 1.1040 The Euro put in a bullish Morning Star candlestick pattern, hinting a move higher against the US Dollar may be ahead. A daily close above support-turned-resistance at 1.0712, the March 31 low, exposes a recently broken rising trend line […]

Brent Crude – Momentum Lacking Despite New High

Brent crude’s strong rally into the end of last week continued on Monday, climbing to $59.39 before running into the same barrier that has twice halted its attempt over the last few weeks. It is still difficult to determine what kind of consolidation pattern this is, a continuation or reversal. The higher lows certainly suggest […]

Gold – Drops Through Key $1200 Level Again

Gold for Wednesday, April 15, 2015 In the last couple of days gold has eased below the key $1200 level again where it is presently trading in a narrow range above $1190. Presently it seems gold has an attraction to the key $1200 level as every time it ventures away it returns quickly to trade […]

Will U.S Retail Sales Test New EUR Lows?

Yen looking for cross currency support K. narrowly avoids deflation S. retail sales to test EUR 12-year lows German bunds trade sub-0.14% There comes a time when trading in stretched forex markets, you do need to be patient when trying to pick a winning trade. When bored, most investors tend to disregard both fundamental and […]

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