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Currencies

Chart Of The Day For September 19th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2858, 1.2796, 1.2673 Resistance:1.2951, 1.2994, 1.3074 The Euro may correct higher against the US Dollar after forming a bullish Piercing Line candle pattern coupled with positive RSI divergence. A daily close above trend line resistance at 1.2951 exposes the September 16 high at 1.2994. Alternatively, reversal below above the 1.2858-71 area marked by […]

Bitcoin Down 14%, Three Theories That May Explain Why

Since our last update yesterday, the losses for everyone’s favorite cryptocurrency have accelerated. Bitcoin broke the previous day’s low at $434 .17 and from here it was down all the way. Towards the end of yesterday’s trading session, prices stalled around the round $400 figure but two hours later BTC/USD broke lower. All in all, […]

Will Scotland Be Penny Wise and Pound Foolish?

It has been a long time coming, but Scottish nationalists finally get to vote for independent statehood today. A “Yes” or “No” win cannot be guaranteed, but rest assured, the market will need to brace itself for some sharp sterling swings no matter the outcome. Rumor, innuendo, and early exit polls will be keeping global […]

Gold – Remains Steady Around $1225

Gold for Friday, September 19, 2014 After finding some support around $1225 for a few days to start this week which saw it rally back close to $1240, Gold has now fallen sharply to its lowest level since Janyary this year.  The next obvious level of potential support is at $1200 which is a long […]

Scots go to the poll as markets brace for volatility

FOMC stays steady, yet timelines show sharp rate path Scottish referendum too close to call. The European markets seem somewhat undecided today, with US and Asian gains pushing minor gains in UK and Eurozone indices. Yesterday’s FOMC meeting provided and element for both bulls and bears to grab hold of and as such, the initial […]

Markets Brace for More Volatility on ECB TLTRO, Scotland Referendum

Talking Points: Franc May Decline if SNB Threatens to Expand Anti-Deflationary Measures Euro Could Bounce as Strong TLTRO Uptake Cuts Stimulus Expansion Bets Pound Volatility in the Cards as Scotland Independence Referendum Looms The FOMC monetary policy announcement fueled sharp volatility across currency markets but this marked just the beginning of a marathon of tectonic […]

Chart Of The Day For September 18th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2858, 1.2796, 1.2673 Resistance:1.2994, 1.3081, 1.3159 The Euro turned sharply lower against the US Dollar once again in the aftermath of the FOMC monetary policy announcement. Near-term support is in the 1.2858-71 area, marked by the September 9 low and the 14.6% Fibonacci expansion. A daily close below that exposes the 23.6% level at 1.2796. Alternatively, […]

Top Trade Idea For September 18th, 2014 – USDJPY

This week I am joining the bulls party in the jpy pairs and the analysis above is about the all important jpy pair of them all: the usdjpy. The thing is that what started after breaking that prolonged contracting triangle looks to be the third wave of an impulsive move and, in order for a […]

Scottish Pride Pounds Sterling

The U.S. dollar remains king. It has risen against a broad basket of currencies for nine consecutive weeks and so far has completed its longest winning streak in 17 years. Will the Federal Reserve end its winning ratio or is it to be a temporary blip before pushing on to greater heights? Many expect the […]

Gold – Rallies to Resistance at $1240, with Eyes on $1200

Gold for Wednesday, September 17, 2014 During the few days of this week Gold has been able to find some support around $1225 and rally up consolidate just below the resistance level at $1240.   To start this week gold reached an eight month low below $1226 after falling heavily over the last few weeks.  The […]

US indices edge higher ahead of FOMC decision

FOMC statement and press conference key today; BoE rate hike vote fails to gather more support leaving only two in favour; UK jobs report shows further improvements in labour market as unemployment falls to 6.2%. All week we’ve been talking about the big risk events for the markets and why they’re weighing on investor sentiment […]

Dollar Checks Back in Anticipation of FOMC Decision

Talking Points: Dollar Checks Back in Anticipation of FOMC Decision British Pound Volatility but Noncommittal After Inflation Report Euro Traders Will React to Fed and then ECB Dollar Checks Back in Anticipation of FOMC Decision This week’s top event risk is upon us. The Federal Reserve’s monetary policy meeting carries deeper meaning than just a […]

Bitcoin Falls Over $20 as Selloff Continues

After breaking the $460 support yesterday, bitcoin continued the leg down. Today prices fell over 20 dollars, from $456 per coin to a daily low of $434. Our article yesterday called for more losses after the important $460 figure gave way. After reaching a daily low of $434 BTC/USD reversed course and rallied almost $15 […]

Top Trade Idea For September 17th, 2014

The AUD/NZD currency pair is looking very interesting from a technical point of view. After it finally broke above sturdy resistance of 1.1035 in mid-August, the currency cross went on to achieve a high of 1.1294 before pulling back sharply from there. But I think this latest pullback was caused primarily by longs taking profit, […]

Chart Of The Day For September 17,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104 The Euro is edging higher against the US Dollar as expected after producing a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.2981 exposes the 23.6% level at 1.3057. Alternatively, a turn below the 50% Fib expansion at 1.2864 opens the door for a test […]

Scottish Pride Pounds Sterling

The U.S. dollar remains king. It has risen against a broad basket of currencies for nine consecutive weeks and so far has completed its longest winning streak in 17 years. Will the Federal Reserve end its winning ratio or is it to be a temporary blip before pushing on to greater heights? Many expect the […]

Gold – Taking a Breather Just Below $1240

Gold for Tuesday, September 16, 2014 Over the last couple of days to start this week Gold has been able to find some support and consolidate around the $1230 level after falling heavily over the last few weeks to an eight month low below $1226.   The next obvious level of potential support is at $1200 […]

Further risk aversion seen ahead of Fed and Scottish vote

Scottish referendum polls remain neck and neck, uncertainty hits risk appetite; Tomorrow’s FOMC decision adds further uncertainty into the markets; UK inflation falls again in August, but it doesn’t appear to be worrying the BoE. With so many risk events to come this week, investors are understandably risk averse again today, with European stocks tumbling […]

Pound May Pay Little Heed to UK CPI with Scotland Vote in Focus

Talking Points: Pound Unlikely to Find Lasting Fuel in UK CPI with Scotland Vote in Focus US Dollar Volatility Risk Favors the Downside as PPI Report Lines Up Ahead See Economic Releases Directly on Your Charts with the DailyFX News App Augusts’ UK CPI data headlines the economic calendar in European hours. Expectations call for […]

Bitcoin Breaks Lower, More Losses Likely

Bitcoin took out the $460 support yesterday. Initially prices only fell slightly to a daily low of $456 before rebounding to retest $460. But today BTC/USD continued the move lower to hit a new multi-day low of $452.85. One coin is currently selling for $456.88 on BTC-E. Prices are 7 dollars higher on Stamp at […]

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