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Gold – Consolidates in Narrow Range Below $1300

Gold for Wednesday, January 28, 2015 Gold has enjoyed a very solid last few weeks as it has surged to a five month high near $1308, before easing back a little in the last several days. To start last week it had just eased back a little and steadied below the $1280 level after surging […]

Pound May Rise as 4Q UK GDP Data Boosts BOE Rate Hike Bets

Talking Points: British Pound May Rise as Firm 4Q GDP Figures Boost BOE Rate Hike Bets Australian Dollar Edges Higher on Swelling Risk Appetite in Overnight Trade See Economic Releases Directly on Your Charts with the DailyFX News App The preliminary set of fourth-quarter UK GDP figures headlines the economic calendar in European trading hours. […]

Bitcoin Falls $12, More Coinbase News

Bitcoin continued the decline today, falling by another $12 dollars. After opening the day at $264.08 BTC/USD traded down to a low of $241 by mid-day. The fledgling cryptocurrency spent the rest of Tuesday recouping some of the losses, eventually closing at $252 flat. We are currently quoted at $254 on BTC-E, $263.50 on BitStamp […]

Top Trade Idea For January 27th, 2015 – AUD/USD

On Aussie we have seen another leg down last week, beneath 0.8000. Based on the latest decline and extended structure from the past few months, we suspect that market will not bottom so soon. We are looking at an updated count now that shows we are in wave five of (3) so price will be […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1123, 1.0992, 1.0830 Resistance:1.1254, 1.1416, 1.1516 The Euro paused to consolidate losses against the US Dollar after cautiously dipping below the 1.11 figure. A daily close below the 50% Fibonacci expansionat 1.1123 exposes the 61.8% level at 1.0992. Alternatively, a turn above the 38.2% Fib at 1.1254 […]

Pricing EUR’s QE, Not Future Greek Talks Just Yet

Syriza win ‘big’ Form coalition with center-right fringe party EUR touched sub €1.11 new-lows Market pricing QE vs. anti-austerity talks Greece’s radical left-wing Syriza party is set to become the first anti-austerity party to lead a eurozone nation. Most of the market had expected Syriza leader Alexis Tsipras and his party would be victorious, but […]

West TX Oil Drops Below $45 on Global Glut

Crude oil fell to the lowest in almost six years after OPEC Secretary-General Abdalla El-Badri said that there was about 1.5 million barrels a day of excess supply. Oil slipped 1 percent in New York, reversing an intraday gain of 1.8 percent that followed comments by El-Badri that OPEC is open to talks with outside […]

Gold – Eases Back From $1300

Gold for Tuesday, January 27, 2015 Gold has enjoyed a very solid last few weeks as it has surged to a five month high near $1308, before easing back a little in the last few days. To start last week it had just eased back a little and steadied below the $1280 level after surging […]

Contagion Contained as Euro Rebounds Post-Greek Elections

Talking Points: EURUSD hits fresh 11-year low below $1.1100 before rebounding. Non-EUR: NZDUSD looks vulnerable w/ FOMC, RBNZ on Weds. See the DailyFX Economic Calendar for Monday, January 26, 2015. One can’t help but think that part of the ECB’s motivation to get its QE program off the ground last week was to buffer financial […]

Bitcoin Surges Past $266, Round Level $300 Hit

Bitcoin ended the day higher by 17 dollars after a highly volatile trading session. The Coinbase ”To The Moon” hype announcement first served as a catalyst to the rally. But the big news got featured in the Wall Street Journal way before the timer ran out. Coinbase has secured regulatory approval to operate as an […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1123, 1.0992, 1.0830 Resistance:1.1254, 1.1416, 1.1516 The Euro is working on clearing a path below the 1.10 figure against the US Dollar as prices dip to levels untouched since September 2003. Near-term support is at 1.1123, the 50% Fibonacci expansion, with a break below that on a […]

Gold Prices Slide on Greek Vote

Gold has posted losses on Monday, as the metal trades at a spot price of $1285.80 per ounce in the European session. Gold has lost ground following the election win in Greece by a far-left party. There are no US releases on Monday. Greeks went to the polls on Sunday, and the far-left Syriza party […]

Euro hits 11-year low after Syriza victory in Greece

The euro has fallen sharply against the dollar after the anti-austerity Syriza party won the Greek general election. The euro briefly fell as low as $1.1088 – the lowest level against the dollar in more than 11 years. Traders says there is uncertainty about what happens next in Greece, as Syriza leader Alexis Tsipras has […]

Dollar Charges Higher as Policy Contrast Draws Focus to Fed

Talking Points: Dollar Charges Higher as Policy Contrast Draws Focus to Fed Euro Suffers Biggest Drop in Three Years on Massive ECB QE British Pound: Will 4Q GDP Forecasts Revive BoE Rate Forecasts? Dollar Charges Higher as Policy Contrast Draws Focus to Fed While this past session’s top event risk – the ECB’s stimulus announcement […]

Bitcoin Move Up Pauses at $250

Bitcoin’s move up stalled around the $250 mark again. While yesterday’s surge stopped at $247, today’s BTC rally hit a high of $253.87. But BTC/USD couldn’t stay above $250 for long and quickly got sold to a low of $239.07. We are currently trading just off the lows at $242 on BTC-E. As usual, prices […]

Bitcoin Rallies 4 Percent, EgoPay Ends Silence

Bitcoin rallied 4 percent today. After opening the day at $229.87 on BTC-E, prices traded flat for most of the day. Towards the later part of the US trading session BTC broke the previous swing high at $233 and proceeded to rally to a high of $247.22. The move up stopped here and bitcoin quickly […]

Bitcoin’s Move Higher Falters

As reported yesterday, bitcoin’s break of $226 had little follow-through. In the past 24 hours not much has changed. The lack of continuation persists with prices moving aimlessly around the $226 level. The day’s low stands at $221 per coin and the high at $229.73. We are currently trading in the middle of today’s range […]

Chart Of The Day For January 23rd,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1254, 1.1123, 1.0992 Resistance:1.1416, 1.1516, 1.1679 The Euro renewed its push downward against the US Dollar, issuing the largest daily decline since August 2010. A daily close below the 38.2% Fibonacci expansion at 1.1254 exposes the 50% level at 1.1123. Alternatively, a turn above the 23.6% Fib […]

Oil Jumps Higher after Saudi King’s Death

Oil jumped after the death of King Abdullah of Saudi Arabia, the biggest producer in the Organization of Petroleum Exporting Countries. Futures advanced as much as 3.1 percent in New York and 2.6 percent in London after the Saudi Press Agency announced the death, citing a statement from the royal court. Crown Prince Salman bin […]

What the EUR Bear Needs From Draghi and the ECB

Will Draghi stand and deliver? Market ready to punish the ECB EUR shorts need a surprise Where is the reserve ammo? The EUR bear finds out his or her own fate in a matter of hours. Will Mario Draghi and the European Central Bank (ECB) stand and deliver what’s rumored and expected of them? It’s […]

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