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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 […]

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 […]

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 […]

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 […]