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Bitcoin Surrenders Most Post-Microsoft Gains

Since our last update, bitcoin surrendered most of the post-Microsoft gains. Prices fell from a high of $356 per coin to a low of $339.60 yesterday. We are currently quoted not far from the lows at $342.50 on BTC-E. As usual, prices are higher on BitStamp at $350 and OKCoin at $348. We’ve seen this […]

Chart Of The Day For December 11th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 12397, 1.2246, 1.2142 Resistance:1.2501, 1.2658, 1.2913   The Euro broke out upward from a Falling Wedge chart formation as expected after showing 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, […]

Top Trade Idea For December 11th, 2014 – EURGBP

Against all odds as it may seem, I am really bullish the Euro as a whole and eurgbp in particular even after today’s TLTRO’s in Europe were released. The fundamental picture doesn’t look pretty for the euro but, despite that, technical picture is quite bullish. The cross here has been falling in a beautiful waterfall […]

USD: Big Year-End Squeeze in the Making?

China incites negative momentum trading Aussie temp cools, Kiwis will know later Is it Easy Street for Abe? Just when you thought it was safe to go back into the water, along comes another wave of negativity that less nimble investors are drowning in as capital markets prepare to closeout an extraordinary year. Disappointing data […]

Gold – Steadies Below Resistance at $1240

Gold for Thursday, December 11, 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 […]

Bitcoin Reverses Losses on Microsoft Announcement

Bitcoin volatility continues to increase. Today’s daily range is already at $23.49 dollars and we’re only 10 hours into the session. After opening the day at $340, the initial fall lower took prices to $332.51. From here BTC/USD reversed all the losses and then some as news spread that Microsoft will start to accept BTC […]

Gold turns bearish as fib holds strong for second day

Gold has rallied well since reaching lows of $1131.88 on 7 November but throughout this rally, there’s been a feeling that this was nothing more than a retracement in the longer term downtrend. The only question was how big a retracement it was going to be. The yellow metal has reached a key level in […]

Japanese Yen May Outperform Amid Profit-Taking on Top 2014 Trades

Talking Points: Yen Outperformed on Safe-Haven Flows Amid Risk Aversion in Asian Trade Quiet European, US Data Docket May Keep Seasonal Forces in the Spotlight See Economic Releases Directly on Your Charts with the DailyFX News App The Japanese Yen outperformed in overnight trade, rising as much as 0.8 percent on average against its leading […]

Top Trade Idea For December 10th, 2014 – AUD/NZD

The weaker inflation figures released from China overnight have been shrugged off by both the AUD and NZD. Investors are perhaps now fully anticipating some more stimulatory action from the PBOC, which would thus be good news for the Australian and New Zealand economies (with China being their largest trading partner).  Anyway, I am looking […]

Chart Of The Day For December 10th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2213, 1.1974, 1.1781 Resistance:1.2386, 1.2420, 1.2501  The Euro may be readying to turn higher against the US Dollar after showing a bullish Morning Star candlestick pattern within a Falling Wedge chart formation. A daily close above support-turned-resistance at 1.2386 exposes the wedge top at 1.2420. Alternatively, a turn below the 1.2213-30 zone […]

West TX Oil Settles Above $63 on Weaker U.S. Dollar

The January contract for U.S. crude oil settled higher on Tuesday after touching a more than five-year low earlier in the session as players sought a sustainable price for oil in a market haunted by oversupply concerns. WTI futures settled up 77 cents at $63.82 on the Chicago Mercantile Exchange, after swinging between a high […]

Gold – Surges to Six Week High Near $1240

Gold for Wednesday, December 10, 2014 Gold has enjoyed a solid last 24 hours surging up from the key $1200 level to a new six week high just shy of a previous resistance level at $1240.  Gold has had a fascination with the $1200 level over the last few weeks which has seen it trade […]

Chinese bond market, Greece and Fed weigh on markets

Chinese sell-off overnight weighs on sentiment in Europe and the US; Greek snap election possible as Samaras brings forward Presidential election; Speculation of more hawkish Fed spooks investors; UK GDP estimate and US job openings data in focus. It appears we’ve entered the week of the jitters in which any news is perceived to be […]

USDOLLAR Index at Risk of Near-Term Top

Talking Points: USDOLLAR Index threatens uptrend from late-November pivot low. Watching post-ECB highs in EURUSD near 1.2455. See the ‘high’ importance events on the DailyFX Economic Calendar. The broader USDOLLAR Index may have broken to fresh yearly highs last week after the stronger than expected November US labor market report, but there has been little […]

Bitcoin Auction Results and Black Friday Stats Pose Questions

Bitcoin is continuing the downward movement. After opening at $358.93, BTC/USD fell over $20 dollars to hit a daily low of $337.94. But bitcoin didn’t stay low for long and prices soon bounced off the $339 mark. We are currently quoted at $346.11 on BTC-E. Since we didn’t even get an hourly close below the […]

Chart Of The Day For December 9th,2014 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2213, 1.1974, 1.1781 Resistance:1.2386, 1.2431, 1.2599 The Euro may be building toward a recovery against the US Dollar as prices trace out a bullish Falling Wedge chart formation. Near-term resistance is in the 1.2360-86 area, marked by the 14.6% Fibonacci expansion and the November 21 close, with a break above that […]

West TX Oil Drops Below $63 as Selling Continues

World oil prices slid another 4 percent to new five-year lows on Monday, as expectations of a deeper slump next year and a prediction by a core OPEC member that crude will remain at $65 for several months triggered another round of selling. U.S. crude oil settled 4.2 percent lower at $63.05 per barrel, at […]

Gold – Continues to Gravitate Around $1200

Gold for Tuesday, December 9, 2014 Gold has had a fascination with the $1200 level over the last few weeks which has seen it trade either side of this level.  In the last 24 hours it has again surged back above it to be presently just trading above.  Over the last week gold traded in […]

Disappointing Asian data weighs ahead of European open

Chinese trade balance figures disappointing despite deceiving headline figure; Japanese GDP revision highlights further weakness in Q3; German industrial production and eurozone confidence readings in focus today. Disappointing data from China and Japan is weighing on European futures ahead of the open on Monday, as concerns about the state of two of the largest Asian […]

Euro May Fall if ECB ABS Purchase Results Reveal Timid Effort

Talking Points: Euro May Fall if Timid ABS Purchase Effort Fuels “Sovereign QE” Outlook NZ Dollar Falls Before RBNZ Rate Decision, Aussie Down on Chinese Data See Economic Releases Directly on Your Charts with the DailyFX News App The European Central Bank will be in the spotlight in European trading hours as it announces the […]

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