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Chart Of The Day For December 16th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2362, 1.2246, 1.2147 Resistance:1.2501, 1.2658, 1.2913 The Euro paused to consolidate gains having reversed higher as expected after putting in a bullish Morning Star candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.2501 exposes the 23.6% level at 1.2658. Alternatively, a turn below wedge top resistance-turned-support at 1.2362 opens the door for […]

West TX Oil Drops Below $56 as OPEC Rules Out Emergency Meeting

Crude prices came under renewed selling pressure Monday after OPEC said it would not cut oil output despite fears of a glut, and a UAE official opposed holding an emergency meeting of the producer group to fix prices. U.S. crude settled down $1.90 at $55.91 per barrel, the lowest settlement since May 2009. The contract […]

Gold – Drops Sharply Back Below $1200

Gold for Tuesday, December 16, 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 24 hours it has fallen sharply back through the key $1200 level.  Gold enjoyed a solid surge higher up from the key $1200 […]

Markets continue lower as Abe retains super-majority

Oil gaps lower but recovers early in the session to trade above Friday’s close; Japan’s coalition retains super majority in pointless election; Confidence in Japanese manufacturing sector slips after country falls into recession; PBOC expects 7.1% growth in 2015 which may concern investors; Start of the week quiet but things will pick up. The negativity […]

ST Technicals Offer Moment of Reflection in EUR-crosses

Talking Points: EURUSD now in symmetrical triangle as it grapples with wedge. EURAUD rising channel may come into question below 1.4972. December forex seasonality foresaw a modestly weaker Euro. Short-term technicals may be at odds with long-term perspectives at present moment, putting many of the EUR-crosses on watch for some volatility over the next few […]

Top Trade Idea For December 15th, 2014 – USD/CHF

After three successful USD/NOK (Norwegian krone) long trades in recent weeks, it’s time to look elsewhere. In so doing, we’re not suggesting the oil price fall has ended. However, we have noticed price moving and closing below a four month uptrend line that may be worth some consideration. We’re talking about “the franc” (the Swiss […]

Chart Of The Day For December 15th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2373, 1.2246, 1.2146 Resistance:1.2501, 1.2658, 1.2913 The Euro advanced against the US Dollar as expected having completed a bullish Morning Star candlestick pattern. Near-term resistance is at 1.2501, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at 1.2658. Alternatively, a reversal below wedge top resistance-turned-support at […]

Week in FX – Risk Steadies Dollar Ahead of Elections and FOMC

Crude prices to continue to suffer Japan’s Abe a winning cert on Sunday? No U.S inflation pressures along supply chain More Central Banks to apply pressure next week Investors have just completed navigating through a week that was not for the fainthearted. The market was peppered with news of new record lows for crude (West […]

Gold – Steadies Above Previous Resistance Level at $1220

Gold for Monday, December 15, 2014 The last week has seen gold ease lower away from the resistance level at $1240 back down to find support at the previous short term resistance level of $1220.  Gold enjoyed a solid surge higher up from the key $1200 level to a new six week high just shy […]

Europe back in the red as oil falls to five and a half year low

Oil price decline unwinds some of the retail sales gains overnight; WTI crude hits five and a half year low, falling below $60 a barrel; US government avoids shut down as spending bill narrowly passes; Mixed Chinese data as better retail sales offset disappointing industrial production; Few data points of note today but nothing major. […]

Yen May Rise Anew as Russian Trade Data Weighs on Risk Appetite

Talking Points: Russian Trade Balance Data May Rekindle Risk Aversion into the Week-End Yen Sold as Asian Stocks Rise on Upbeat US Data, NZ Dollar Corrects Lower See Economic Releases Directly on Your Charts with the DailyFX News App Emerging-market jitters may renew pressure on risky assets in the final hours of the trading week. […]

Bitcoin Flat as Falcon Global Capital Closes Fund

Bitcoin is trading flat after an uneventful Sunday session. After opening the day at $341.68, prices fell to a low of $336.94. From here, BTC/USD rallied to a daily high of $346.93 but few hours later bitcoin fell back down to the daily open at $341.50. Prices are slightly higher on OKCoin at $347 and […]

Bitcoin Range Continues for a Second Day

Bitcoin is continuing to trade range-bound. After yesterday’s $10 dollars, the range today shrunk to a mere $7 dollars. The daily low stands at $340.03 and the high at $347.50. We are currently quoted just of the highs at $341.83 on BTC-E. As usual prices are somewhat higher on OKCoin at $345 and BitStamp at […]

Bitcoin Pauses as Volatility Dies Down

Bitcoin is trading mostly unchanged after the volatility experienced during the last two days died down. The daily range today was just under $10 dollars, a far cry from yesterday’s $24 dollars. The lowest low stands at $339.60 and the highest high at $349.56. We are currently quoted at $346 on BTC-E and $354 on […]

Top Trade Idea For December 12th, 2014 – EUR/JPY

On Monday (Sunday night), the Tankan manufacturing indices for Q4 are released in Japan, along with Tokyo condominium sales. Weaker industrial production and capacity utilisation numbers this morning have expectations trending down, but the Yen has not fallen with them. This may mean that the weaker reads are already priced in. With no major European […]

Chart Of The Day For December 12th,2014 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.2384, 1.2246, 1.2144 Resistance:1.2501, 1.2658, 1.2913 The Euro paused to consolidate gains having reversed higher as expected after putting in a bullish Morning Star candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.2501 exposes the 23.6% level at 1.2658. Alternatively, a turn below wedge top resistance-turned-support at 1.2384 opens the door for […]

West TX Oil Below $59.50 as Producers Tussle for Market Share

Oil extended losses below $60 a barrel amid speculation that OPEC’s biggest members will defend market share against U.S. shale producers. Brent also slid after closing at the lowest price since July 2009. West Texas Intermediate futures fell as much as 1.9 percent in New York and are down 10 percent this week. Iraq, the […]

Gold – Steadies Below Resistance of $1240 Around $1225

Gold for Friday, December 12, 2014 After surging so well a couple of days ago Gold has been content to consolidate and just slowly ease away from the resistance level at $1240 over the last day or so. Gold enjoyed a solid surge higher up from the key $1200 level to a new six week […]

AUDNZD breaks trendline and tests major support

The AUDNZD pair has been selling off sharply over the past two days. This break below a key trendline yesterday brought about more selling and has found support on a major level. That being said, this week’s break brings the pair into a much more dangerous position and makes it look like we could see […]

Euro Traders Prepare for Direct Stimulus Update

Talking Points: Dollar and S&P 500 Suffer Worst Declines Since October Panic Euro Traders Prepare for Direct Stimulus Update Swiss Franc Potential Lopsided in SNB Rate Decision Dollar and S&P 500 Suffer Worst Declines Since October Panic ‘The Dollar’s safe haven status is broken’? That seems to be a claim be made more often these […]

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