Today is Fri, August 29, 2014 22:48:16 GMT
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Currencies

Trade Of The Day For August 29th,2014 – AUD/JPY

Despite the wishes of RBA Governor Glenn Stevens, the AUD continues to defy gravity. Lower commodity prices should see lower terms of trade, and a lower Aussie, yet the currency continues to frustrate short sellers. Eventually, USD strength as stimulus is withdrawn should see a lower AUD/USD. But the AUD/JPY chart is telling a different […]

Bitcoin Bounces off $500 Again, Hal Finney Passes Away

Bitcoin has yet again bounced off the important $500 mark. Earlier in the trading session, prices got as low as $495.60 on BTC-E. This is the lowest point for bitcoin in the past four days. But BTC was quick to climb back above $500 and is currently trading at $504 per coin on BTC-E. Prices […]

Chart Of The Day For August 29th,2014 -EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3151, 1.3041-64, 1.2977 Resistance:1.3232, 1.3281, 1.3361 The Euro may on the verge of a rebound against the US Dollar after forming a Bullish Engulfing candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.3232 exposes the 23.6% level at 1.3281. Alternatively, a reversal below the 76.4% Fib expansion at 1.3151 clears the […]

Will Geopolitical Events Trump EUR’s Postponed Downfall?

What will come of the weak EUR bear position holders as the 18-member single unit trades up through the psychological €1.3200 handle? Clouding some of this morning’s price action will be month-end demand but with word that Russian forces have seized a coastal town inside of Ukraine on Thursday morning, geopolitical risk is once again […]

Gold – Moves Up Strongly But Runs Into Wall at $1290

Gold for Friday, August 29, 2014 Over the last few days Gold has enjoyed a resurgence as it has moved strongly higher off the support level at $1275, however it has run into a concrete wall of support at $1290.   In the week prior, Gold had been falling lower back towards the medium term support […]

Eurozone back in focus with further weakness expected

Eurozone weakness provides backdrop of the day Confidence surveys expected to bring further downside Inflation readings arrive ahead of tomorrow’s big release. A somewhat hesitant start to the day expected, following what was a largely flat US session. European markets have been looking towards today as the major driver of market direction, with a whole […]

Euro Looks to German Inflation Report to Power a Corrective Bounce

Talking Points: Euro May Correct Higher if Augusts’ German CPI Data Tops Expectations US Dollar Slumped on Profit-Taking in Asia, 2Q GDP Revision Eyed Ahead See Economic Releases Directly on Your Charts with the DailyFX News App The preliminary set of Augusts’ German CPI figures headlines the economic calendar in European hours. The baseline year-on-year […]

Bitcoin Survey Says 51 Percent Have Heard of it

Bitcoin is still well supported by the round $500 handle. Earlier in the day, prices tried to break lower but after a short move to $498.06, BTC/USD climbed back above the round figure. One coin is currently selling for $506 on BTC-E. Bitcoin is still trading inside the large congestion marked by a low at […]

Top Trade Idea For August 28th, 2014 – AUDUSD

For the audusd pair there is still trouble ahead as the path of least resistance seems to be still to the downside and not the upside like recent price action might indicate. The thing is that the pair is consolidating for the last 5 months around 0.95 and 0.9300 levels, so 200 pips range that […]

Chart Of The Day For August 28th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3151, 1.3041-64, 1.2977 Resistance:1.3232, 1.3281, 1.3361 The Euro may be preparing to launch a corrective recovery against the US Dollar after prices put in a Bullish Engulfing candlestick pattern. Near-term resistance is at 1.3232, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at […]

EUR Demise Supported By Record-Low Peripheral Yields

This Friday cannot come soon enough for some forex market participants. So far this week, investors have been starved for fundamental data to back their currency positions. Many have had to make do with last week’s central bank rhetoric for direction. The currency positioning play has been agonizingly slow to watch and the current market […]

Gold – Trying to Edge Higher from Support at $1275

Gold for Thursday, August 28, 2014 Over the last couple of days Gold has been enjoying a small rally off the support level at $1275 after spend the best part of the last week resting on support there.  In the week prior, Gold had been falling lower back towards the medium term support level at […]

Futures edge higher after another record breaking session

US futures are pointing marginally higher on Wednesday, on what is expected to be a fairly quiet session. They’re not getting much direction from Europe, where indices are treading water, which is something we also saw in Asia overnight. It’s looking a little light on the economic data front, which may explain why we’re not […]

Dollar Hits 12-Month High Versus Euro, S&P 500 Crosses 2000

Talking Points: Dollar Hits 12-Month High Versus Euro, S&P 500 Crosses 2000 Euro Sinks as Market Rate Slides to Record Low USDJPY Climbs for a Seventh Straight Day Dollar Hits 12-Month High Versus Euro, S&P 500 Crosses 2000 Where were the balloons? The S&P 500 marked yet another milestone in its line of records by […]

Bitcoin to Continue Downtrend Says Citi

Nothing new on the price front for everyone’s favorite cryptocurrency. Bitcoin rallied to a high of $517.85 today but toward the close BTC/USD fell back down to the $510 figure. We are still trading well inside the $50 range mentioned in our daily roundup yesterday. Until we break either of these extremes, prices will likely […]

Top Trade Idea For August 27th,2014 – EUR/CHF

Since the Swiss National Bank (SNB) imposed its peg in EUR/CHF, this cross has only traded below 1.20 a handful of times, and each time it has bounced off this important level of support. In the three years that the peg has been in place, the market hasn’t tested the SNB’s resolve with any gusto. […]

Chart Of The Day For August 27th,2014 – EUR/USD

By Ilya Spivak Talking Points:   EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3151, 1.3048-64, 1.2977 Resistance:1.3204, 1.3248, 1.3291   The Euro remains under heavy selling pressure, descending to the weakest level in almost a year against the US Dollar. A daily close below the 76.4% Fibonacci expansion at 1.3151 exposes the 1.3048-64 area marked by the 100% level and a falling […]

EUR Shorts Hanging Tough For Now

With the U.K. markets back online today after a holiday long weekend, playing catch-up is the order of the day. European credit markets are trading firmer this morning despite the non-rapturous applause in Asia that saw the Nikkei, Shanghai Composite Index, and Hang Seng Index close in the red after some quick profit-taking on the […]

Gold – Sellers Placing Great Pressure on Support at $1275

Gold for Wednesday, August 27, 2014 Over the last week now Gold has been falling lower back towards the medium term support level at $1290 however to finish out last week it fell sharply down to the previous key level at $1275.  In the last 24 hours gold has surged higher but run into the […]

Markets calm down following Draghi driven boost

European market moderately pare yesterday’s gains Yellen unsurprisingly fails to deliver at Jackson Hole Mario Draghi dominates affairs, following dovish Jackson Hole speech Slow day for European data. European markets are expected to tread water today following a particularly strong start to the week yesterday. The unexpectedly dovish speech from Mario Draghi late on Friday […]

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