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Bitcoin Bounces Off $235, Silk Road Plot Thickens

Bitcoin ended the short losing streak today by bouncing off the $235 mark. After opening at $238.22, BTC/USD fell to a low of $234.08, briefly piercing the $235 support. But bitcoin spent less the 30 minutes below the mark and soon the bulls pushed prices back above the figure. By the end of day, a […]

Chart Of The Day For March 30th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0832, 1.0456, 1.0244 Resistance:1.1051, 1.1263, 1.1513 The Euro rose as expected against US Dollar after producing a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.1051, the March 26 high, with a break above that on a daily closing basis exposing the 38.2% Fibonacci […]

West TX Oil Drops to Near $47 on Iran Deal

Oil prices dipped in Asian morning trading on Monday, adding to steep losses in the previous session, as Iran and six world powers tried to reach a deal that could add oil to the market if sanctions against Tehran are lifted. Iran and six world powers tried to break an impasse in nuclear negotiations on […]

Gold – Key $1200 Resistance Level Stands Firm Again

Gold for Monday, March 30, 2015 For the best part of the last couple of weeks gold has moved strongly off the support at $1150 up to a three week high right around $1220 level, before easing lower back towards the key $1200 level to finish out last week. It has started this week easing […]

EUR/USD – Euro Slips from Lofty Heights

Street waits for Yellen this afternoon Middle East Tensions subside Forex liquidity remains at a premium Market trying to avoid lopsided trades over Q1 end U.S. dollar buyers are back with a vengeance as the street waits to close out the week once U.S gross domestic product data has been released this morning, and more […]

Is the USDOLLAR Establishing a Bottom?

Talking Points: USDOLLAR Index holds daily 34-EMA as support. EURUSD main driver behind broader USDOLLAR rebound. See the March forex seasonality report for trends in the QE-era. The rapid build in short positioning ahead of the FOMC meeting brought the market back in line with the extreme positioning seen in early-February (196.3K net-short contracts for […]

Bitcoin Down $12, Nears Previous Support

Bitcoin is trading down by $12 dollars today. After opening at $249.15 prices rose slightly to $250.75 but from here it was down all the way. By mid-day we had hit $238.12. A second arch lower took BTC/USD to $235.99, just 59 cents away from the March 25th swing low. We are currently trading at […]

Bitcoin Slightly Up, Mined BTC Close to $14M Mark

Bitcoin closed today up just over $3 dollars. After opening at $245.79, BTC/USD rallied to a high of $252.26 around mid-day. The BTC couldn’t stay above the $250 mark for long and soon a sell-off took prices to $249.01 where the crypto closed off the session. Both BitStamp and OKCoin are trading $2 dollars above […]

Bitcoin Flat Again, OKCoin Changes Margin Rules

Bitcoin is trading flat again. After opening the day at $245.62, prices first fell by over 4 dollars to $240.99. From here we rallied higher, reaching $248 in the morning session. But the highs didn’t last either and soon BTC/USD fell back down to its daily opening price at $245. We are currently quoted at […]

Top trade idea for March 27th, 2015 – USD/MXN

Many traders will refuse an each way bet. That is, if a trade goes against them, they won’t reverse and go in the new direction. Usually this is a result of at least one painful “whipsawing” as an inexperienced trader. Yet experienced traders know when to break the rules,, and the Mexican peso’s positioning at […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0857, 1.0456, 1.0244 Resistance:1.1051, 1.1263, 1.1513 The Euro rallied against the US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above the march 26 high at 1.1051 exposes the 38.2% Fibonacci retracement at 1.1263. Alternatively, a move below […]

Europe Lower Ahead of Key UK Retail Sales Data

European indices are expected to open lower on Thursday following rough sessions in the US and Asia overnight. People have spent the last week trying to explain why US indices in particular have suffered over the last week, with some pointing to growing expectations of a summer rate hike and others highlighting the weakness in […]

Gold – Threatens to Remain Above Key $1200 Level

Gold for Friday, March 27, 2015 Throughout last week or so gold has moved very well and reversed by moving strongly off the support at $1150 up to a three week high right around $1220 level, before easing lower back towards the key $1200 level. It has eased lower a little back near $1200 where […]

USD/CAD – Poloz Did Not Ruffle the Loonie’s Wings

CAD rate cut “buy’s us time” Need time for lower oil prices to have impact BoC to wait on sidelines Higher crude temporarily supporting CAD Governor Stephen Poloz at the Bank of Canada (BoC) said nothing to upset the market balance in his speech in London this morning. The governor has been criticized by various […]

Post-FOMC Levels Holding USD for Now; JPY-crosses Begin Breakdown

Talking Points: USDOLLAR Index struggling at post-FOMC low, daily 34-EMA. USDJPY wipes out below 119.25, contrary to March seasonality. See the March forex seasonality report for trends in the QE-era. The Japanese Yen is defying its seasonal tendancies right now, which could set up an interesting month of April. Typically, at least over the past […]

Bitcoin Barely Changed, GBTC Begins Trading

Bitcoin is trading barely changed today, after the move higher faltered as well. The day started with a BTC rally from $243.38 to a high of $252.19, hit around mid-day. Prices didn’t stay above $250 for long however and a slow  and steady slide lower took BTC/USD back to the $243 mark. We are currently […]

Top trade idea for March 26th, 2015 – USDCAD

Insisting on a higher usdcad as the recent move to the downside failed to take the previous lows at the end of the contracting triangle, namely the 1.2400 lows. This gives us quite a nice rr ratio as the stop for this trade is the 1.2400, but the target is quite handsome: above 1.2900, making […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0955, 1.0456, 1.0233 Resistance:1.1263, 1.1513, 1.1762 The Euro rose as expected against US Dollar, with prices now poised to make a move above the 1.12 figure. Near-term resistance is at 1.1263, the 38.2% Fibonacci retracement, with a break above that on a daily closing basis […]

America’s Oil Storage Hits Another Record

America’s oil in storage just hit another record after rising for the 11th consecutive week. Stockpiles rose 8.2 million barrels, or 1.8 percent, to 466.7 million barrels last week, the EIA reported today. Analysts had expected an increase of 4.75 million barrels. The amount of oil the U.S. is cranking out also edged up slightly, […]

Gold – Steadily Moving Higher Towards Key $1200 Level

Gold for Thursday, March 26, 2015 Throughout last week or so gold has shown some life and reversed by moving strongly off the support at $1150 up to a two week high just shy of the key $1200 level. It has eased lower a little back near $1150 where it is presently consolidating and trading […]

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