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Chart Of The Day For April 21th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro pushed higher against the US Dollar as expected following the appearance of a bullish Morning Star candlestick pattern. A daily close above the March 18 high at 1.1040 exposes the 38.2% Fibonacci retracement at 1.1266. Alternatively, a […]

Russia Increases Gold Reserves by 1,238 Tons in April

After a two-month hiatus, Russia’s appetite for buying gold is back. The nation increased foreign reserves of bullion to 39.8 million ounces, or about 1,238 metric tons, as of April 1, compared with 38.8 million ounces a month earlier, the central bank said on its website Monday. The 30-ton purchase was the most since September. […]

Creditors Chase Consensus With Greece to Unlock More Aid

Greece and its creditors remained at loggerheads with time running out to unlock aid and avert a default. The sides haven’t even set 2015 budget targets, let alone on policies to meet them, an official representing creditors said Monday, asking not to be named as talks aren’t public. Euro-area finance ministers said in February that […]

Greece’s Varoufakis warns of Grexit contagion

Greece’s Finance Minister Yanis Varoufakis said in an interview broadcast on Sunday that if Greece were to leave the euro zone, there would be an inevitable contagion effect. “Anyone who toys with the idea of cutting off bits of the euro zone hoping the rest will survive is playing with fire,” he told La Sexta, […]

EUR-crosses Begin to Lose Traction at Start of Week

Talking Points: EURUSD‘s only bullish appeal rooted in stretched positioning. EURGBP, EURJPY technical structures remain fairly weak. See the April forex seasonality report. The Euro has once again started to slip back thanks to its deflating yield appeal and advancement along the path of a funding currency. As the differential between the short-end and the […]

Bitcoin Up 1$ as Zig-Zag Movement Continues

Bitcoin is up $1 dollar today as the zig-zag price movement continues. After opening at $220.69 BTC/USD rallied to a high of $224.56. But as you can probably guess, the rally proved unsustainable and near the end of the session bitcoin was trading back near the $220 mark. We are currently quoted at $221.60 on […]

Top Trade Idea for April 20th, 2015 – USD/CAD

Global FX Club) USD/CAD is at an interesting juncture as the pair tumbled this past week from a high of 1.2644 to a low of 1.2087 as the setback came on the back of U.S. crude rising 4 percent after the bullish EIA inventory report. That fundamental fact pair with the technical picture in which […]

Chart Of The Day For April 20th,2015 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro advanced against the US Dollar as expected after prices put in a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1040, the March 18 high, with a break above that on a daily closing basis exposing the 38.2% […]

BP Receiving Crude as Repayment for Iraq Work

The dramatic 10-month drop in the price of oil could be due to ultra-loose monetary policy by the U.S. Federal Reserve, according to a senior analyst at a major financial services company. Mark Lewis from Kepler Cheuvreux said on Monday that the boom in U.S. shale gas production over the last few years that had […]

Gold – Remains Attracted to $1200

Gold for Monday, April 20, 2015 In the last couple of weeks, gold has traded in a narrow range right around the key $1200 level where it presently sits. It seems gold has an attraction to the key $1200 level as every time it ventures away it returns quickly to trade right around it. A […]

China’s Cut Cheer Quashed by Grexit Concerns

China’s PBoC cut goes deeper than market expected Required rate of return ease frees up ¥1.3 trillion in cash Greek April 24 deadline in sight Major currency pairs prices remain contained for now For this week’s global market economic events, investors will be watching Germany’s April ZEW and Ifo surveys rather closely to get a […]

Commodity Dollars Soar After China Cuts Reserve Requirement Ratio

Talking Points: Commodity Dollars Soar After China Issues 100bps RRR Cut for Top Banks Japanese Yen Gains Amid Risk Aversion, Euro Declines on Greece Jitters US Dollar Looks to Dudley Comments to Drive Rates “Liftoff” Speculation The Australian, Canadian and New Zealand Dollars outperformed in overnight trade after China unexpectedly cut the reserve requirement ratio […]

Bitcoin Down $2 Dollars as Low Volatility Continues

Bitcoin closed the day down by almost 2 dollars or just over 0.68 percent. After opening the session at $222 flat, BTC/USD first rallied to a daily high of $224.99 but from here it fell to a low of $219.46. Eventually we closed at $220.48. We are currently quoted 18 cents below the close on […]

Bitcoin Ekes Out a Small Gain as Volatility Drops

Bitcoin ended the day almost unchanged after a V-shaped reversal. After opening at $220.70, prices fell to a daily low of $218.13 around mid-day. But bitcoin didn’t stay low for long and soon we rebounded back above the $220 mark. Eventually BTC/USD closed the session at $222 flat, for a small gain of 0.59 percent. […]

Bitcoin Futures Continue to Discount Prices

Bitcoin fell $7 dollars in today’s trading session. After opening at $227 flat, BTC/USD slowly fell to a low of $220.24. After a brief respite, the cryptocurrency continued the sell-off 6 hours later, reaching a daily low of $219.43. We are currently trading very close to the lows at $220.90 on BTC-E. As usual, bitcoin […]

Top trade idea for April 17th, 2015 – EUR/AUD

Better than expected employment data in Australia this week saw the AUD make further gains against the EUR, pushing EUR/AUD lower.  However, a bounce off previous support in EUR/AUD to complete a double top formation could see a significant reversal of the seven big figure fall over the last nine trading days. A surprise fall […]

Chart Of The Day For April 17th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro pushed higher against the US Dollar as expected following the appearance of a bullish Morning Star candlestick pattern. A daily close above the March 18 high at 1.1040 exposes the 38.2% Fibonacci retracement at 1.1266. Alternatively, a […]

Brent Crude – Triangle Top at Breaking Point

Having spent much of the day paring yesterday’s gains, Brent crude has taken off again this afternoon and finds itself back at the top end of the range it’s traded in this year. The result of the consolidation this year has been an ascending triangle forming which is quite a bullish set up, regardless of […]

Gold – Remains Steady Around $1200

Gold for Friday, April 17, 2015 In the last week or so, gold has traded in a narrow range right around the key $1200 level where it presently sits. It seems gold has an attraction to the key $1200 level as every time it ventures away it returns quickly to trade right around it. A […]

Grexit Fears Has Yields Tumbling and EUR Crosses Under Pressure

German bund yields print new record lows Grexit fears has spreads widening further Risk aversion pummels EUR crosses Commodity currencies find needed support Global yields continue to tumble, mostly on fear or lack of returns and modest growth prospects. It’s beneficial for investors to understand the relationship between various yields spreads to comprehend some of […]

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