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Bitcoin Nears $600, Overstock with More BTC Innovation

The bitcoin move up largely triggered by a technical bounce of $550 is continuing. BTC prices today got very close to climbing back above $600, hitting a daily high of $597.99 on BTC-E. However bitcoin was unable to hold on to the gains and few hours later fell to a low of $587. We are […]

EUR’s Fall from Grace Put on Hold until NFP

The forex market has had a little bit of everything thrown at it in the past 24-hours. It looks like an asset class that wants to make up for lost time in a hurry. Finally, fundamental and technical themes are beginning to join the dots that both volatility and volume, in the current low-rate environment, […]

Gold – Drops to Six Week Low Near $1280

Gold for Friday, August 1, 2014 In the last few days gold has been easing lower and placing pressure on the support level at $1300 which eventually gave way resulting in gold falling sharply back down to a six week low near $1280.   Over the last few weeks the $1290 level has shown some signs […]

Europe mixed ahead of unemployment and inflation data

FOMC very dovish despite ongoing improvement in the economy; Yellen may wait until Jackson Hole next month to discuss rate hikes; German unemployment and retail sales figures being released this morning; Eurozone inflation data less important, unemployment rate also being released. European futures are looking a little mixed ahead of the open, following similarly mixed […]

USD/JPY Fueling Broader USD Breakout; EUR/USD Weak Under 1.3400

Talking Points: EURUSD denied at 1.3400 after Euro-Zone CPI. USDCAD looks for 1.0954 before pullback. July forex seasonals in QE era still working against greenback, however. US Treasury yields have turned higher, and the relationship between weaker bond prices and a stronger US Dollar is starting to emerge. Whereas the 20-day correlation between the DXY […]

Bitcoin Bounces Off $550 as Argentina Defaults

Bitcoin prices have once again bounced off the important $550 figure. Earlier today, BTC/USD traded to a low of $555 before rebounding. Since reaching the lows, bitcoin gained and is currently trading 20 points higher at $576.60 per coin on BTC-E. As usual, prices are slightly higher on BitStamp at $582 a piece. Here is […]

West TX Oil at $99.95 as U.S. Fuel Supplies Rise

West Texas Intermediate dropped for a fourth day and slipped below $100 as gasoline stockpiles rose and demand declined in the U.S., the world’s biggest oil user. Brent decreased in London. Futures fell as much as 1.1 percent in New York. Gasoline supplies expanded by 365,000 barrels last week to 218.2 million, the highest level […]

Gold – Threatening to Stay Below $1300

Gold for Thursday, July 31, 2014 In the last few days gold has been easing lower and placing pressure on the support level at $1300 which maybe about to give way.  Over the last few weeks the $1290 level has shown some signs of support and held gold up.  Gold did well at the end […]

Support at 50 fib and bullish divergence on EURUSD

    Having reached its target following the break of the double top – using the standard calculation of taking the size of the formation and projecting it below the neckline – the euro is struggling to break below 1.3373, where the 50 fib level is providing significant support.The daily chart is showing a divergence […]

Dollar Positioned for a Breakout but Will GDP and the Fed Provide?

Talking Points: Dollar Positioned for a Breakout but Will GDP and the Fed Provide? Euro Faces its Own Volatility on Stocked Docket British Pound Unimpressed by Surge in Mortgage Approvals Dollar Positioned for a Breakout but Will GDP and the Fed Provide? It’s an appropriate place to be, heading into such a significant round of […]

Bitcoin Retests $563, Important $550 Level Eyed

Bitcoin is currently retesting the small support at $563. Earlier in the day, prices bounced of the figure and rallied to $572. We are again staging an attack and the odds are stacked to BTC heading lower. Below $563, the next significant level of support can be found at $550. Lower still, the round psychological […]

Forex Market Subdued Ahead of FOMC, GDP

Investors appear to be positioning themselves conservatively ahead of the first reading of second-quarter U.S. gross domestic product data tomorrow. It’s no surprise that there is very little movement in the major currency pairs before such a major economic release. Everyone seems comfortable in keeping his or her powder dry ahead of three days of […]

Gold – Looking for Support at $1300 Again

Gold for Wednesday, July 30, 2014 For the few days to start this week gold has been slowly but surely easing back towards the $1300 level where it is now looking for some support.  In recent hours it dropped sharply through this level however it has held up above $1298.  Gold did well at the […]

Europe to open higher as earnings take centre stage

Hang Seng hits near four year high on improving data; Japanese spending figures lift the Nikkei; Lack of economic data could mean more choppiness today; More earnings to come including GSK, BP and Pfizer. European futures are pointing to a slightly positive open on Tuesday following a strong Asian session overnight that saw Japan’s Nikkei […]

US Dollar May Rise Before Key Data on Firming Consumer Confidence

Talking Points: US Dollar May Edge Higher as Consumer Confidence Hits Six-Year High Australian Dollar Followed S&P 500 Futures Lower in Quiet Asian Trade View Economic Data Releases on Your Charts with the DailyFX News App Another quiet day on the European economic data front is likely to see investors looking ahead to US economic […]

Bitcoin Stages Reversal, Trades Back to $582

Bitcoin staged a reversal of the $562 handle yesterday. After hitting $562.98 on BTC-E, the crypto rallied 19 points to close the day at $581.97. From here, everyone’s favorite cryptocurrency moved somewhat lower to hit $572.50 in today’s trading session. One bitcoin is currently quoted at $581 on BTC-E and at $584 on BitStamp. Going […]

This Week: Suit Up, Strap In, And Be Dollar Ready

Last week saw global markets fluctuate between corporate earnings and geopolitical conflicts. There was an excess of negative news out of Israel and eastern Ukraine, with each region’s headlines countering much of the decent U.S. and European quarterly earnings reports. On the whole, the reports were relatively good, despite a couple of curve balls thrown […]

Oil Retreats Awaiting Fed and US Economic Data

West Texas Intermediate and Brent crudes fell before U.S. economic data that may signal slowing growth, curbing fuel use in the biggest oil-consuming nation. Crude in New York slipped for the fourth time in five days amid forecasts that an index of U.S. service industries dropped this month. An upsurge in fighting in Libya hasn’t […]

Rebound likely as USDCHF returns to previous resistance

The USDCHF pair continues to climb following the breakout of a descending channel formation earlier this month. Gradual stepped increases in price action finally led to a break above 0.9035 to find a four month high on Friday and with price now pulling back I expect support to come in at that major previous resistance […]

Fed, NFPs Line Up this Week with USD Technical Breakouts

Talking Points: EURUSD aims below 1.3400, USDCHF above 0.9150. GBPUSD critical support comes in at 1.6920. July forex seasonals in QE era still working against greenback, however. A culmination of factors may be aligning for further US Dollar strength over the coming days, even as the economic calendar comes in rather light until Wednesday. However, […]

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