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Bitcoin Reverses Losses, Rallies $14 Dollars

Bitcoin reversed the losses earlier in the day and closed higher by $4.63 dollars. We opened at $223.21, fell to a low of $216.21 before rallying $14 dollars to $230.96. We are currently quoted at $228.35 dollars per coin, not far from the day’s high. On OKCoin we had an even larger bounce of $14 […]

Top trade idea for August 28th, 2015 – AUD/USD

In all the volatility this week , the Aussie Dollar hit a 6 year low of .705 against $US Here are 4 chart based reasons why this might just turn out to be a significant low It intersects at potential trend line support which runs through the lows of 2001 and 2008 It represents a […]

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

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Drops for Third Day, Aims at Push Below 1.12 Figure Risk/reward Parameters Argue Against Taking Short Trade The Euro declined for a third consecutive day against the US Dollar, with prices now aiming at support below the 1.12 figure. A daily close below the 61.8% […]

Oil Rallies 10% – Biggest One Day Rally In Six Years

Oil jumped the most in more than six years, caught up in a relief rally that swept the globe as the U.S. economy grew more than predicted. West Texas Intermediate futures rose 10 percent, the biggest gain since March 2009. U.S. gross domestic product grew at a 3.7 percent annualized rate in the second quarter, […]

USDJPY – Panic Selling or New Bearish Trend?

The dollar fell strongly against the yen at the end of last week and first trading day of this, with the latter benefiting from the unwinding of the currency trade and its perceived safe haven status.The sell-off in the pair prompted a break below the ascending trend line – 16 January highs – and came […]

U.S Economy Grows 3.7% in Q2, Beats Expectations

The economy grew more than previously estimated in the second quarter on bigger gains in consumer and business spending that show the U.S. expansion got back on track. A surge in inventories also signals such strong growth will be difficult to sustain in the short run. Gross domestic product, the value of all goods and […]

US Dollar May Rise as Sentiment Sours Anew on Revised 2Q GDP Data

Talking Points: Australian Dollar Drops as RBA Rate Cut Expectations Continue to Rebuild 2Q US GDP Revision May Boost US Dollar, Trigger Renewed Risk Aversion See Economic Releases Directly on Your Charts with the DailyFX News App The Australian Dollar underperformed in otherwise quiet overnight trade. The currency briefly popped higher after the second-quarter capex […]

Bitcoin Down by $7 Dollars Today

Bitcoin is trading down by $7 dollars compared to yesterday’s update. On BTC-E we opened at $223.81, then stayed almost flat for the entire day. But in the early morning hours of the new session we are seeing a renewed bout of BTC selling. In the past four hours we hit a low of $216.12 […]

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

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Rebound Fastest Since 2009 Waiting for Short Setup to Emerge The Euro has advanced to the highest level in over seven months against the US Dollar, with prices claiming a foothold above the 1.16 figure. The speed of the advance has been at least as […]

Oil Stable After China Stimulus

Oil stabilized on Wednesday after China’s central bank moved to support the country’s economy, but prices stayed near 6-1/2-year lows as a heavy supply glut kept the market outlook bearish. “Oil is catching its breath a bit and seeing if markets have been oversold or not,” Capital Economics commodities economist Thomas Pugh said. Brent LCOc1 […]

EURUSD – Seeking Confirmation of Monday’s Break

We’re seeing a rebound in the dollar following a strong start to the day following comments from FOMC voting member William Dudley, who claimed that a September rate hike looks less compelling. While this isn’t necessarily a surprise given the extreme levels of market volatility as of late and growing concern over emerging markets and […]

Top trade idea for August 27th, 2015 – AUDNZD

This is the audnzd cross and it formed a beautiful impulsive move or five wave structure to the upside followed by a correction. The recent spike higher that took the 1.14 level when stocks in the United States dropped last Monday basically makes the case for a flat pattern as a b wave in pink […]

GBPUSD – Big Test for Major Support

Cable has looked quite bullish since bottoming out in April but it looks as though its failure to break through the 50 fib level – 15 July highs to 13 April lows – back in June was a warning that the bullish move is losing steam. As you can see on the daily chart below, […]

Euro, Yen Drop as China Stimulus Lifts Market Spirits. Will it Last?

Talking Points: Yen, Euro Drop on China Stimulus But Risk Appetite Boost May Be Fleeting US Durables Data, Fed Commentary in Focus as Markets Look for Guidance See Economic Releases Directly on Your Charts with the DailyFX News App The Japanese Yen and the Euro faced selling pressure in overnight trade as stocks recovered across […]

Bitcoin Continues Gains After Reversal

After yesterday’s strong reversal, bitcoin today closed higher by $5 dollars on BTC-E and $3 dollars on OKCoin. On OKCoin we opened at $222.51, fell to a low of $218.32 before rallying all the way to $230 dollars per coin. But by the end of the session most of those gains evaporated and BTC/USD closed […]

Top Trade Idea for August 26th, 2015 – GBP/USD

Amidst the rollercoaster ride that unexpected seized most global markets over the last few days, trade in GBP/USD has remained relatively sanguine. Cable rallied “just” 80 pips on Monday, while the dollar lost far more value against the euro and yen, before reversing that move on Tuesday to trade back at the 1.5700 level. As […]

Chart Of The Day For August 26th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Rebound Fastest Since 2009 Waiting for Short Setup to Emerge The Euro has advanced to the highest level in over seven months against the US Dollar, with prices claiming a foothold above the 1.16 figure. The speed of the advance has been at least as […]

Gold – Strong Selling After Failed Breakout

Despite an apparent flight for safety and sell-off in the dollar on Monday, there was little love for Gold which usually does well in these circumstances. Gold was trading at a key resistance level around $1,170 where the descending trend line – 22 January highs – intersects a prior level of support and the 61.8 […]

China Lowers Interest Rates

China’s central bank cut its benchmark lending rate for the fifth time since November and lowered the amount of cash banks must set aside, stepping up efforts to cushion a stock market rout and deepening economic slowdown. The one-year lending rate will drop by 25 basis points to 4.6 percent effective Wednesday, the Beijing-based People’s […]

Dollar Attempts Comeback

PBoC cuts rates and reserve requirements Will China’s actions stem the current equity rout? China’s cut bring much needed stability Dollar finds some much needed support China’s equity markets now seem to be isolated with their equity rout continuing (down -7.63% Tuesday) as concerns about a hard economic landing remain. Currently, the world’s second largest […]

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