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Bitcoin Range Continues as Auction Draws Near

Bitcoin’s range around $350 continues for another day, although the last 24 hours showed a bullish bias. After opening at $354.10 prices fell to $348.42 only to rise back above the $350 mark one hour later. The rally took BTC/USD to a daily high $360.99, just shy of yesterday’s high at $362.13. We are currently […]

Bitcoin Undecided as Price Swings Around $350

Bitcoin is still trading undecided as prices continue to swing around the $350 figure. After opening at $348.10 bitcoin fell to a low of $345.15. From here, BTC rallied to hit $362 per coin. But the move up soon fizzled out and prices came back down near the $350 mark. We are currently trading at […]

Bitcoin Barely Changed, Two Price Catalysts Next Week

Bitcoin is trading barely changed after a brief excursion earlier in the day pushed prices below the $350 mark. The move encountered little resistance by buyers and soon BTC/USD was quoted at $339.66. Bitcoin rebounded from the lows and we are currently trading at $352.22, just $2 dollars below the daily open on BTC-E. As […]

EUR Bull Blinded by Flash Numbers

Fed reinforces “normalization” China flash manufacturing PMI dips to 6-month low Weak Flash numbers has EUR hobbling Federal Reserve announcements usually end up having the largest market impact, and yesterday’s release of the Federal Open Market Committee’s October meeting minutes were not to be the exception. However, the data ended up being a “non-event” as […]

Gold – Makes Another Run at Resistance at $1200

Gold for Friday, November 21, 2014 In the last couple of days Gold has made repeated runs at the resistance level at $1200 and failed every time.  In recent hours it has traded above the $1190 level after failing yet again.  In the last week or so Gold has enjoyed a strong resurgence back to […]

EURAUD resistance likely to hold at 200 dSMA

The EURAUD pair has been trading within a range over the past month and a half. On a long term outlook, it looks like we could be within a head and shoulders formation, yet for the time being, it looks like we could get some downside following a move to the upper end of the […]

USDOLLAR Continuation as EUR/USD, GBP/USD Fail at Resistance

Talking Points: USDOLLAR continues broadly higher thanks to AUD, JPY. EUR/USD, GBP/USD channels/flags near breaking points. See the ‘high’ importance events on the DailyFX Economic Calendar. The FOMC minutes yesterday spurred the USDOLLAR Index’s push to fresh 2014 highs, but it will take more than words to keep the greenback’s bull trend going. One of […]

Bitcoin Nears Crucial Support at $350

Bitcoin is trading close to the crucial support area at $350 today. The break of $365 earlier in the day lead to quick losses to $353 per coin. We are currently quoted at $357.98 on BTC-E, compared to $360 on OKCoin and $361 on BitStamp. Here’s a 1 hour chart of the last few days […]

Will FOMC Minutes Stray from the Beaten Path?

FOMC expected to make some noise “Old Lady” sets sterling alight BoJ attempting to save face In today’s economic climate, central banks are never too far away from the heart of any forex move, and again overnight has been no exception. Monetary policy guidance, economic reassessment, and policymakers’ outright voting results are influencing forex price […]

Gold – Resistance at $1200 Stands Tall

Gold for Thursday, November 20, 2014 In the last few hours Gold has been easing back towards $1180 after making a couple of runs at the resistance level at $1200 and failing.  In the last week or so Gold has enjoyed a strong resurgence back to the key $1200 level where it has met stiff […]

Attention turns to the Fed as BoE turns more hawkish

BoJ stands pat after last month’s surprise stimulus efforts; BoE minutes more hawkish than Carney comments last week; FOMC minutes to elaborate on hawkish statement a few weeks ago; Housing data also in focus in the US today; Oil prices remain under pressure ahead of next week’s OPEC meeting. The trading day is being dominated […]

US Dollar Gains as Foreign Demand Hits Record, FOMC Minutes on Tap

Talking Points: US Dollar Gains on FOMC Minutes Pre-Positioning, Supportive TICs Data Pound May Fall if BOE Minutes Reveal Hawks Abandoned Rate Hike Votes See Economic Releases Directly on Your Charts with the DailyFX News App The US Dollar outperformed in overnight trade, rising as much as 0.3 percent on average against its leading counterparts. […]

Bitcoin Flat After Midday Reversal

Bitcoin is trading flat after a midday reversal sapped the strength of the morning rally. After opening at $373.19, BTC/USD had a short-lived spike to $368 but soon after a rally took prices to a daily high of $386.34. From here however, the reversal brought bitcoin back down to $374 per coin on BTC-E. As […]

West TX Oil Near $74 as Saudi Exports Rise

U.S. crude fell towards $74 a barrel in early Asian trade on Wednesday, headed for a third straight drop, after data showed top OPEC producer Saudi Arabia increased crude exports in September despite signs of an oversupplied market. U.S. crude for December delivery fell 33 cents to $74.28 a barrel by 0058 GMT, taking it […]

Gold – Enjoys Strong Rally Back to Key $1200 Level

Gold for Wednesday, November 19, 2014 In the last week or so Gold has enjoyed a strong resurgence back to the key $1200 level where it has met stiff resistance.   Throughout the second half of October gold fell very strongly and resumed the medium term down trend falling from above $1250 back down through the […]

USDCAD tests support level amid uptrend

The USDCAD pair has returned to a major support level, following the engagement of a resistance level two weeks ago. Following this, it will be key to see how the pair resolves the current region of uncertainty to then gauge the direction for the coming weeks. The weekly chart below shows the pair has found […]

Dollar Traders Whether FOMC Minutes Will Keep the March Towards Hikes

Talking Points: Dollar Traders Whether FOMC Minutes Will Keep the March Towards Hikes British Pound Fails to Regain Traction after CPI Uptick Yen Crosses Steady after Snap Election Call, Will the BoJ Help Soothe Uncertainty? Dollar Traders Whether FOMC Minutes Will Keep the March Towards Hikes The Dollar put in for a mixed session Tuesday […]

Bitcoin Auction Announcement Sinks Prices

The bitcoin move up didn’t last long. Shortly after prices fell below the $400 mark yesterday, we got news that the US Marshall is accepting bids for a new auction of 50,000 bitcoins.The move sank prices and in few hours BTC hit a daily low of $373.03. In the early part of today’s trading session […]

Week in FX Americas – Bullard and G20 Beat Down Dollar

U.S Retail Sales provided a brief dollar “bid” Bullard and G20 makes investors nervous Modest market participation provides choppy FX session The near global equity meltdown last month (later reversed) was not able to seriously damage Friday’s U.S. retail sales report for October. Overall, retail sales rose +0.3% on the month and managed to just […]

Low Oil Prices Could Pressure OPEC into Action

Speculators got more bullish on oil for the first time in three weeks, judging that a slump in prices to a four-year low will force OPEC to act. The net-long position in West Texas Intermediate rose 8.7 percent in the week ended Nov. 11, U.S. Commodity Futures Trading Commission data show. Long holdings rebounded from […]