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Top Trade Idea for May 27th, 2015 – GBP/JPY

The GBP/JPY last week peaked above the December high of 189.70, and for a time traded at its highest level since September 2008. But the pound sold off and subsequently the GBP/JPY fell back all the way to 187.85 before bouncing back. The cross has now recovered and it may go on to break out […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0804, 1.0647, 1.0394 Resistance:1.0930, 1.1056, 1.1213 The Euro declined against the US Dollar as expected after negative RSI divergence hinted at ebbing upside momentum. A daily close below the 61.8% Fibonacci expansion at 1.0804 exposes the 76.4% level at 1.0647. Alternatively, a turn above the […]

West TX Oil Below $57.50 on U.S. Shale Outlook

U.S. oil closed lower on Tuesday, pressured by the possibility that U.S. shale oil producers could increase drilling activity and by a stronger dollar. U.S. drillers cut the number of rigs by just one last week, data showed on Friday, and Goldman Sachs said prices were at a level that would spur activity. The dollar […]

Gold – Drops to Two Week Low Around $1185

Gold for Wednesday, May 27, 2015 Over the last week gold has slowly but surely drifted lower back to the key $1200 level however in the last 24 hours it has fallen sharply to a two week low around $1185. In the week prior gold enjoyed a solid week surging to a three month high […]

Dollar Trading Takes Prominence

Markets watchful of Greece Greek saber rattling supports Gilts and Bunds Yen trades at eight-year low to the dollar Commodity prices fall on dollar outlook After a three-day weekend, market participants jumped straight back into the fray to find the U.S. dollar rising on gains fueled by last Friday’s U.S. consumer-price index surprise, and comments […]

USDOLLAR Index Bottom Looks Established by Now

Talking Points: USDCAD, USDJPY continue to lead the way for USD-pairs. EURUSD in ‘sell rallies’ mode after break of March-May uptrend. See the May forex seasonality report. The USDOLLAR Index has made considerable strides the past two weeks and by doing so, has positioned itself on the charts as having developed a potential significant bottom […]

Bitcoin Barely Changed, Volatility Shrinks Further

Bitcoin is trading barely changed again, in yet another uneventful trading session. After opening at $238.12 on BTC-E, we rallied to a high of $240.32 before falling back to a daily low of $236.41. But ultimately prices closed near the open at $238.57. We are currently trading slightly below yesterday’s open at $237.88. Prices are […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0934, 1.0808, 1.0653 Resistance:1.1059, 1.1214, 1.1310 The Euro turned lower against the US Dollar as expected after negative RSI divergence pointed to fading upside momentum. Near-term support is at 1.0934, the 50% Fibonacci expansion, with a break below that exposing the 61.8% level at 1.0808. […]

Oil Steady on Muted Trading

Crude oil futures rose on Monday as firm global demand offset a strong dollar, although a holiday in the United States and much of Europe kept trading muted. Front-month Brent crude LCOc1 gained 53 cents to $65.90 a barrel by 1750 GMT (01:50 p.m. EDT), after touching an intraday low of $64.72. U.S. crude CLc1 […]

Gold – Continues to Consolidate Above $1205

Gold for Tuesday, May 26, 2015 Over the last week gold has slowly but surely drifted lower back to the key $1200 level where it is presently consolidating above. In the week prior gold enjoyed a solid week surging to a three month high above $1225 before returning most of those gains easing back to […]

US Dollar Gets the Green Light from Fixed Income

Thin trading conditions dominate Greece: No “moola” for the IMF Rising prices makes Fed hike timing difficult Fixed income looks to September for first hike Over the past few weeks dollar bulls have been trading with their backs against the wall, pressured by the spike in global sovereign bond yields, and the unknown timing of […]

Euro Drops on Spain Election Outcome, Yen Down After Trade Data

Talking Points: Euro Declines as Spanish Election Results Hint at Parallels with Greece Yen Lower as Japan’s Trade Report Tops Forecasts, Boosts Risk Appetite See Economic Data Directly on Your Charts with the DailyFX News App The Euro underperformed in overnight trade, falling as much as 0.2 percent on average against its leading counterparts. The […]

Bitcoin Retraces Gains, Forum Hacked

Bitcoin can’t catch a break. Today the cryptocurrency retraced most of the gains made during the past 4 days. After peaking out at $243.63 in yesterday’s trading session, today BTC/USD fell to a low of $237 flat before stabilizing somewhat. About two hours ago we had another retest of $237 with prices trading as low […]

Oil Edges Higher on Asian Demand

Crude oil futures edged up on Monday, buoyed by healthy Asian appetite and demand from the U.S. driving season. Front-month Brent crude prices were up 6 cents at $65.43 per barrel at 0045 GMT. U.S. crude prices were also up 6 cents at $59.78 a barrel. “Global oil demand continues to surprise to the upside, […]

Gold – Creeping Back Towards $1200

Gold for Monday, May 25, 2015 Over the last week gold has slowly but surely drifted lower back to the key $1200 level where it is presently consolidating above. In the week prior gold enjoyed a solid week surging to a three month high above $1225 before returning most of those gains easing back to […]

Canada’s April Inflation Slowest in Two-Years

Canada’s inflation rate last month was the slowest since October 2013, falling below the central bank’s target band on a drop in energy costs. The consumer price index rose 0.8 percent in April from a year ago after March’s 1.2 percent pace, Statistics Canada said Friday from Ottawa. The core rate, which excludes eight volatile […]

Euro to Look Past German IFO Survey, US Dollar May Fall After CPI Data

Talking Points: Euro Unlikely to Yield Follow-Through on German IFO Survey Outcome US Dollar May Decline Even if US CPI Data Tops Economists’ Forecasts See Economic Data Directly on Your Charts with the DailyFX News App The German IFO survey of business confidence headlines the economic calendar in European trading hours. The forward-looking Expectations index […]

Bitcoin Hits New Multi-Day High

Bitcoin hit a new multi-day high today. After opening at $239.63 we slowly climbed higher until the evening session pushed prices to $243.63. This is a new 12-day for BTC and we got within striking distance of the previous swing high at $247.07. We hit new highs on other exchanges as well. On OKCoin spot, […]

Bitcoin Ends Steak but Still Below Resistance

Bitcoin ended a 4-day winning streak today but prices continue to trade not far from an important resistance level. After opening at $241.20 BTC/USD first rallied to hit a new multi-day high at $242.88. But the fresh highs were soon met with heavy selling and by the end of day BTC closed at $239.63. Overall, […]

Bitcoin Strings Together 4 Days of Gains

With another close in the green, bitcoin managed to string together 4 positive days in a row. Mind you, the gains are relatively small at 30 cents, $1.07, $1.53 and $6.19 dollars today. Still this is a massive improvement from the completely flat market we’ve been having this month. In addition, the gains seem to […]

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