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Gold – Resistance at $1200 Continues to Stand Tall

Gold for Friday, December 19, 2014 The last week or so has seen gold ease lower away from the resistance level at $1240 back down to find support at $1220 however several days ago it fell sharply back through the key $1200 level where it is now meeting strong resistance.  Gold enjoyed a solid surge […]

Data heavy day ahead with focus on UK, US and Germany

Fed takes more cautious approach on rates and retains “considerable time” pledge; German Ifo surveys and UK retail sales the focus this morning; Lots of US data to come later including jobless claims and PMI readings. Investors were given a small boost overnight which is driving index futures higher ahead of the open as the […]

Bitcoin Retests $300, Lawsky Announces Changes to BitLicense

Bitcoin is making another move for the $300 round figure. Earlier today, prices got as low as $304.98 before recovering somewhat. We are currently trading slightly above the lows at $308.65 on BTC-E. Prices are slightly higher on OKCoin and BitStamp at $310 a piece. Today’s trading session may be decisive in determining whether the […]

Swiss Franc Sinks as SNB Surprises with Negative Interest Rates

Talking Points: Swiss Franc Sank After SNB Unexpectedly Unveiled Negative Interest Rates US Dollar May Turn Lower as Markets Rethink FOMC Outcome Implications See Economic Releases Directly on Your Charts with the DailyFX News App The Swiss Franc slumped after the Swiss National Bank unexpectedly dropped interest rates into negative territory at -0.25 percent. The […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2324, 1.2249, 1.2173 Resistance:1.2418, 1.2569, 1.2676 The Euro turned sharply lower against the US Dollar, with sellers reclaiming a foothold below the 1.24 figure. A daily close below the intersection of falling wedge top resistance-turned-support and the 38.2% Fibonacci expansion at 1.2324 exposes the 50% level at 1.2249. Alternatively, a turn above the […]

Bitcoin Extends Move Lower, $304 Hit

After breaking past $319 yesterday, bitcoin extended the move lower to $312. The downtrend continued today with more losses to $304.05. After the lows prices rallied on BTC-E, spiking to a high of $319.45 four hours ago. But when the other bitcoin exchanges didn’t follow the move and remained flat, price fell back down. We […]

Top Trade Idea For December 18th, 2014 – AUDUSD

Yesterday’s FOMC decision and press conference was followed by a US dollar buying mood all over the dashboard as the Fed basically gave a timing for the possible future rate hike: a couple of more meetings away. However, if I were to pick an opposite view, I would pick audusd as a good candidate, and […]

West TX Oil Rallies to $56 on Falling Crude Inventories

Oil prices jumped on Wednesday as U.S. data showed falling crude inventories, stemming deep losses brought on by a supply glut and signals from OPEC producers and Russia that they will not cut production. WTI crude closed 54 cents higher at $56.47 per barrel after surging to a session high of $58.98. It touched its […]

Gold – Struggles to Get Above Resistance at $1200 Again

Gold for Thursday, December 18, 2014 The last week or so has seen gold ease lower away from the resistance level at $1240 back down to find support at $1220 however a few days ago it fell sharply back through the key $1200 level where it is now meeting resistance.  Gold enjoyed a solid surge […]

Volatility reigns as BoE and FOMC look set to dominate

Russian confidence at a low as ruble plummets Eurozone begins slowly turning around Falling UK CPI crucial ahead of US release MPC minutes key as falling inflation could change outlook FOMC announcement focused around potential language change. Market volatility appears to be the order of the week, as a range of economic and political announcements […]

FOMC Preview and Trade Setups in EUR/USD, USD/JPY, AUD/USD

Talking Points: EURUSD breaks uptrend from December 9 low. USDJPY back to neckline of potential top.. December forex seasonality foresaw a modestly weaker Euro. As fear and tumult rage on in emerging market currencies, one must not forget the headline event of the week: the Federal Reserve’s last policy meeting of 2014. Undoubtedly, market participants […]

Top Trade Idea For December 17th, 2014 – GBP/USD

As strange as it sounds, the tone of trade for the rest of the week, and perhaps even the rest of the year, could hinge on just two words. The Federal Reserve will release its monetary policy statement and summary of economic projections at 2:00pm ET (19:00 GMT), followed by the press conference with Fed […]

Chart Of The Day For December 17th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2491, 1.2397, 1.2340 Resistance:1.2566, 1.2642, 1.2735 The Euro advanced against the US Dollar as expected having completed a bullish Morning Star candlestick pattern. Near-term resistance is at 1.2566, the 50% Fibonacci retracement, with a break above that on a daily closing basis exposing the 61.8% level at 1.2642. Alternatively, a reversal below the 38.2% Fib at […]

West TX Oil Remains Below $56

U.S. oil prices rallied abruptly at midday on Tuesday, reversing earlier losses on what traders said was a mix of profit-taking on crack spreads and positioning ahead of WTI options expiry later in the day. WTI crude settled 2 cents higher at $55.93 per barrel, after peaking at $57.15 earlier. The Brent crude contract for […]

Gold – Meeting Resistance at $1200 Again

Gold for Wednesday, December 17, 2014 The last week has seen gold ease lower away from the resistance level at $1240 back down to find support at $1220 however in the last 48 hours it has fallen sharply back through the key $1200 level where it is now meeting resistance.  Gold enjoyed a solid surge […]

Focus remains on US consumer after retail sales surprise

Oil prices are weighing heavily on European stocks again on Friday as the sell-off after the close on Thursday finally gets its opportunity to impact energy companies on this side of the pond. That said, US futures are also looking very heavy ahead of the open, suggesting that risk aversion is continuing to spread throughout […]

Pound May Weaken on UK CPI, Euro to Look Past PMI Data

Talking Points: US Dollar Corrected Lower in Overnight Trade, Loonie in the Lead Ruble Bounce on Surprise Russia Interest Rate Hike Unlikely to Last UK CPI May Weigh on British Pound, Euro to Look Past PMI Data The US Dollar corrected lower in overnight trade having edged higher in the preceding 24 hours. The Canadian […]

Bitcoin Bounces Off $319, CSBS Joins the Regulatory Party

Bitcoin continued the downward trend today, spiking to a low of $318.10 few hours ago. From here, BTC/USD reversed and hit a high of $328.39. We are currently quoted at $327.51 on BTC-E, $332 on OKCoin and $334 on BitStamp. The chart below shows the V-shaped reversal during the past 12 hours. While prices briefly […]

Bitcoin Breaks $332 as Downtrend Resumes

Bitcoin’s downtrend continued today as prices broke the $332 swing low. The move lower took BTC/USD to $324.60. Around mid-day we saw a small retracement to $328.74, likely caused by the Time announcement. Bitcoin is currently quoted at $325.80 on BTC-E. As usual prices are higher on OKCoin at $332 and BitStamp at $337. The […]

Top Trade Idea For December 16th, 2014 – EUR/GBP

In today’s analysis we will take a look at EURGBP which is in downtrend actually since 2008 as showing on the weekly chart below. On that count we are looking at a double zigzag, now with wave C) in progress that can complete wave (Y) sometime next year. But notice that pair for now still […]

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