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NZDUSD triangle forms beside major support level

The NZDUSD paid has been approaching a year long low of 0.768 recently and today’s price action has seena trinagle form which could point towards a potential move to break lower or retrace upwards. The daily chart shows the significance of the support level at 0.768, which if broken would likely lead to a significant […]

Dollar’s Current Bull Leg Strongest since Rally Through Crisis

Talking Points: Dollar’s Current Bull Leg Strongest since Rally Through Crisis Euro Stumbles as Inflation Data Raises the Stakes for ECB Thursday Japanese Yen: Japan Inc Says Concerned Over Low Currency Dollar’s Current Bull Leg Strongest since Rally Through Crisis With Tuesday’s close, the Dow Jones FXCM Dollar Index (ticker = USDollar) matched its run […]

Bitcoin Erases Gains, Reddit May Issue Its Own Cryptocurrency

Bitcoin is back to printing red after the short reprieve yesterday. Today prices slowly fell to erase almost all the gains from the day before. Bitcoin is now trading at $374 on BTC-E and at $383 on BitStamp. It’s unclear where the crypto will go from here. The two points to watch are yesterday’s high […]

EUR Loses Foothold on the Cross

The 18-member single unit has managed to fall to a fresh two-year low outright this morning, briefly penetrating the psychological €1.26 handle (€1.2595), just as capital markets bid farewell to another volatile September and third quarter. Meanwhile, European equities are edging higher, trying to reverse yesterday’s decline ahead of the European Central Bank’s (ECB) next […]

Gold – Drops to Nine Month Low with Eyes on $1200

Gold for Wednesday, October 1, 2014 For more than a week now Gold has thoroughly enjoyed solid support at $1215 after falling strongly a couple of weeks ago from $1240 to just below $1215, however in the last 24 hours it has dropped to its lowest level in 2014 below $1205.   The next obvious level […]

Weak eurozone CPI pushes raghi back into a corner

Poor CPI readings provide upside to indices, yet weakens the euro further; CPI and German unemployment change figures put yet further pressure upon Mario Draghi; Consumer confidence figure to dominate US session as volatility is expected to rise this week.. US markets are hoping for a positive start to the day, where weakened Eurozone CPI […]

Euro May Be More Responsive to Positive vs. Negative Inflation Data

Talking Points: Euro to be More Sensitive to Positive vs. Negative Eurozone CPI Outcome Aussie, NZ Dollars Rise Alongside S&P 500 Futures as Risk Aversion Fades See Economic Releases Directly on Your Charts with the DailyFX News App The preliminary set of September’s Eurozone CPI figures headlines the economic calendar in European hours. The benchmark […]

Bitcoin Rallies as Circle Opens Doors

Bitcoin has finally managed to snap out of its multiday losing streak. Today prices rallied 10 dollars to close at $382. This exact scenario played out 10 days ago in BTC/USD (a six day losing streak followed by a $10 rally). The rally was slow and steady and prices traded as high as $388.95 today. […]

Forex Carry Trades Are in Trouble

Volatility is the forex investor’s greatest ally. In the month of September, there has been no let up from this key variable that had been missing during the Group of Eight central bank lower-for-longer interest rate stretch of the past two years. Volatility provides investors opportunity, something that has been in abundance for a number […]

Gold – Support Level at $1215 Remains Firm

Gold for Tuesday, September 30, 2014 For more than a week now Gold has thoroughly enjoyed solid support at $1215 after falling strongly a couple of weeks ago from $1240 to just below $1215.  The next obvious level of potential support remains at $1200 which is a long term key level. If gold was to […]

Markets selloff as we enter key week

Market selloff continues as markets look towards key week; Spanish CPI leads thoughts to tomorrows headline CPI reading; US pending home sales figure released later today. US markets look set to run into further downside today following a disappointing start to the week in Asia and Europe. With the busiest week of the month ahead […]

Technical Case for Weak EUR/USD Persists – Will Fundamentals Match?

Talking Points: EURUSD continues to be guided by 13-EMA. Watch flag develop in USDJPY – failed breakout worth watching for. EURUSD has been on a major losing streak since mid-August. EURUSD faces two important tests this week: the European Central Bank on Thursday; and whether or not it will maintain its downtrend at the daily […]

Bitcoin on a Six Day Losing Streak

Bitcoin is now on a six day losing streak. The highly volatile trading session started with prices at $374. From here, BTC/USD fell to a new multi-day low of $361 only to rally 24 dollars to a high of $385 just six hours later. For a while it looked like the cryptocurrency may end its […]

Week in FX Europe – EUR Run Ragged after Consolidation

U.S. dollar adjusts to mid-2015 rate hike ECB could use additional unconventional measures With QE on the table the EUR could hit €1.20 in six months Diverging monetary policies have fueled the U.S. dollar’s strength this summer, more so against the EUR than any of the other Group of Seven (G-7) currencies. On Thursday, the […]

Gold – $1215 Level Continues to Assist

Gold for Monday, September 29, 2014 For more than a week now Gold has thoroughly enjoyed support at $1215 after falling strongly a couple of weeks ago from $1240 to just below $1215.  The next obvious level of potential support remains at $1200 which is a long term key level.  If gold was to fail […]

Japanese CPI falls further, prompting calls for BoJ action

Yesterday’s sell-off driven by geo-political fears Japanese CPI falls yet again German consumer confidence likely to tumble once more. European markets are expected to open mixed as they try to determine whether the follow the US and Asian indices lower following the largest one-day decline in the Dow since 31 July. Driven primarily by rumours […]

Dollar Rising Too High for Fed’s Liking?

Talking Points: Dollar Rising Too High for Fed’s Liking? Euro Discounts Draghi Talk, Bigger Concerns Looming New Zealand Dollar Suffers Biggest Drop in 15 Months Dollar Rising Too High for Fed’s Liking? Earlier this week, New York Fed President William Dudley remarked that the US Dollar’s rapid rise could hinder growth and undermine the central […]

Bitcoin Retests $370, OKCoin USD Volume Spikes

Another day of losses for everyone’s favorite virtual currency. After opening the day at $388.91, BTC/USD had a small rally to $394.65. From here bitcoin hovered around the $388 mark before finally succumbing to the selling pressure. Towards the end of the day, BTC hit a low of $370.30, bouncing clean off the $371 support […]

Bitcoin Heading Toward Fourth Day of Losses

Bitcoin is heading toward its fourth day of losses. After opening at $395, prices slowly drifted to hit a daily low of $388.55. Currently BTC/USD is quoted at $390 on BTC-E. Prices are trading just above the $400 round figure on BitStamp. A move lower is likely. The first significant support below $388 stands at […]

Bitcoin Hangover Continues, CFTC to Hold Public Hearing

The hangover from the PayPal induced high continues for a third day. Today BTC/USD opened at $400 flat on BTC-E. After a short-lived rally to $412, BTC resumed the downtrend, hitting a daily low of $388.69 around mid-day. Prices have since recovered somewhat and currently one coin is selling for $395.50 on BTC-E. Bitcoin is […]

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