Analysis Topic: Currency Market Analysis
The analysis published under this topic are as follows.
Saturday, July 12, 2014
Bitcoin Price Sign of Reversal? / Currencies / Bitcoin
By: Mike_McAra
In short: we still support long speculative positions in the market, stop-loss at $550.
The long-spoken-about Bitcoin ETF is slowly nearing SEC approval, Bloomberg reported:
It looks increasingly that the Winklevoss Bitcoin Trust (COIN) will actually launch.
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Tuesday, July 08, 2014
Bitcoin Price Move Down Possibly Dying Out / Currencies / Bitcoin
By: Mike_McAra
In not too many words: we still think long speculative positions might become profitable, stop-loss at $550.
Tim Draper, founder of the venture capital firm Draper Fisher Jurvetson, and at the same time the person who bought bitcoins seized from Silk Row, spoke to CNBC on Monday and offered his views on the cryptocurrency:
“The bitcoin world is this new ecosystem where it doesn't cost that much to start a new bitcoin company, it doesn't cost much to start owning bitcoin either, and it is a much more efficient way of moving money around the world,” Draper said (…).
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Friday, July 04, 2014
EUR/USD – Bigger Pullback or Something More? / Currencies / Forex Trading
By: Nadia_Simmons
Earlier today, the euro moved lower against the greenback after the U.S. Department of Labor reported that non-farm payrolls rose by 288,000 in June, beating expectations for an increase of 212,000. Meanwhile, the unemployment rate dropped to 6.1% from 6.3% in May. Thanks to these better-than-expected numbers, EUR/USD declined sharply and dropped below the short-term support. What impact could it have on future moves?
Wednesday, July 02, 2014
AUD/USD Forex Rally Continue? / Currencies / Forex Trading
By: Nadia_Simmons
The Reserve Bank of Australia left interest rates unchanged at a record low of 2.5%, which pushed the Australian dollar to a seven month high against its U.S. counterpart earlier today. Thanks to this news AUD/USD climbed temporarily above important resistances, but will currency bulls be strong enough to hold gained levels?
In our opinion, the following forex trading positions are justified - summary:
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Tuesday, July 01, 2014
U.S. Dollar Summer Cycle Sit Down / Currencies / US Dollar
By: Ed_Carlson
A 3year cycle points to an important low this summer. At 3years, 3months, July seems like a good bet but it is possible the cycle low came two months early with the low in May. However, July is also an expected 13-month cycle low. A 95-day cycle low is due the final week in July.
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Friday, June 27, 2014
USD/CAD At Key Support Lines / Currencies / Forex Trading
By: Nadia_Simmons
Today, the U.S. dollar declined to a fresh five-and-a-half month low against its Canadian counterpart as yesterday’s disappointing U.S. gross domestic product data continued to weigh. With this downswing USD/CAD dropped to key support lines. Will they withstand the selling pressure?
In our opinion, the following forex trading positions are justified - summary:
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Wednesday, June 25, 2014
Where is the Bottom in the Euro? / Currencies / Euro
By: Richard_Cox
In the last few weeks, the Euro has reversed a good portion of the gains made during the early parts of this year as the monetary policy outlook at the ECB looks to be changing at a rate that is more aggressive than previously expected. Looking at specific forex rates, the EUR/USD hit an initial high just below the 1.40 mark before making a violent turn to the downside that has pushed traders to an alternate viewpoint where the shared Euro currency is looking much more attractive as a sell on rallies rather than as a buy on dips. These trends are being aided by new positives in the US economic, and a good portion of the market is now using the Dollar as a means for exiting long positions in the Euro itself.
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Wednesday, June 25, 2014
AUD-NZD Set To Explode Higher / Currencies / Forex Trading
By: Austin_Galt
The interesting action keeps taking place in the AUDNZD. Let’s start with the daily chart to see the latest developments.
DAILY CHART
Tuesday, June 24, 2014
GBP/USD – Another Fakeout / Currencies / British Pound
By: Nadia_Simmons
Earlier today, the British pound declined sharply against the greenback after Bank of England Governor Mark Carney testimony. Later in the day, sterling extended losses after data showed that Conference Board consumer confidence index jumped to 85.2 this month from 83.0 in May (it’s worth noting that this was the highest reading since January 2008), while the number of new home sales also rose to a six-year high, increasing 18.6% in May ( the highest level since May 2008 and the largest monthly increase since January 1992). These strong bullish numbers boosted the U.S. dollar and triggered a sharp decline in the GBP/USD pair. Where could the exchange rate drop after another fakeout?
Tuesday, June 24, 2014
Bitcoin Price at Crossroads / Currencies / Bitcoin
By: Mike_McAra
Briefly: we don’t support any short-term positions in the Bitcoin market now.
The law landscape is changing for Bitcoin with almost every week. Now, the authorities in California have passed a bill to address the unclear legal standing of the currency, Reuters reported:
California lawmakers on Monday approved a measure making it easier to use alternative currencies including Bitcoin, even as the failed Tokyo based bitcoin exchange, Mt Gox, moved forward into bankruptcy protection.
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Saturday, June 21, 2014
Bitcoin Price Wavering around $600 - Which Way Will It Go? / Currencies / Bitcoin
By: Mike_McAra
In short words: we don't support any short-term positions at this time.
The Bolivian government banned Bitcoin in May, CoindDesk announced yesterday:
Read full article... Read full article...El Banco Central de Bolivia, the central bank of the South American nation, has officially banned any currency or coins not issued or regulated by the government, including bitcoin and a list of other cryptocurrencies including namecoin, peercoin, Quark, primecoin and feathercoin.
Friday, June 20, 2014
British Pound Soars above GBP 1.71, Tracking £/$1.80 Forecast Despite Scottish Independence Risks / Currencies / British Pound
By: Nadeem_Walayat
The british pound soared above GBP 1.71 and as of writing is holding steady at around 1.705. The surge in sterling confounded many market analysts who had both been skeptical of the strength of the british economy as it continues to face head winds from a depressed Euro-zone and the chaos inducing risks that surround the forthcoming Scottish Independence referendum where the polls continue to trend in the direction of the Yes vote.
Friday, June 20, 2014
EURUSD On The Cusp / Currencies / Euro
By: Austin_Galt
Let's begin the analysis by looking at the yearly chart.
Thursday, June 19, 2014
Escalating Middle East Tensions Could Spur Forex Market Volatility / Currencies / Forex Trading
By: MahiFX
The extraordinary events featuring the Islamist extremist movement ISIS seemingly determined to carve out a new caliphate covering large parts of Syria and Iraq could yet have big reverberations in the currency markets.
Potential volatility in the currencies is likely to be first telegraphed through the oil market with the Middle East being a key supplier to the world economy. Should oil prices soar, say if ISIS made further big advances, then there could be serious damage done to the world economy.
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Wednesday, June 18, 2014
GBP/USD: More Gains After The Pullback / Currencies / British Pound
By: Gregor_Horvat
GBP/USD broke sharply to the upside last week with a clear personality of a wave three within a five wave move in wave C). We see pair going higher now, above 1.7000 to complete wave (5). This fifth wave should be made by three legs as we are tracking an ending diagonal on a daily chart, so upside can be limited around 1.7100. At the moment we are looking at a corrective pullback in black wave 4 that may stop at 1.6900/1.6920 before uptrend resumes.
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Wednesday, June 18, 2014
AUD-USD Fake Out / Currencies / Forex Trading
By: Austin_Galt
Your rugby opponent runs towards you with ball in hand. Just as you’re about to tackle him he feigns to go right, but then steps back to the left and darts off with you in hot pursuit. Just as it is in rugby, so too is it in the market. The market is our opponent and it’s our job to tackle it. It is not our friend. It is our enemy and it will do all it can to elude us. It will play mind games with us. Daring us to do this or that, knowing its only aim is to dupe us. And if we are duped it will do its utmost not to let us catch it after we finally cotton on to the charade. In this case, the AUDUSD looks to have dummied to the high side then sidestepped back to the low side and is now streaking away. Rallies should be small as it makes it hard to get set for those that didn’t pick the initial fake out.
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Wednesday, June 18, 2014
The Book Of Satoshi: Bitcoin Has Changed Everything / Currencies / Bitcoin
By: Jeff_Berwick
BITCOIN HAS CHANGED EVERYTHING. Its importance as an evolution in money and banking cannot be overstated. Notice I don’t use the word “revolution” here because I consider Bitcoin to be a complete “evolution” from the anachronistic money and banking systems that humanity has been using—and been forced by government dictate to use—for at least the last hundred years.
Wednesday, June 18, 2014
Tense Days Ahead for Bitcoin Price / Currencies / Bitcoin
By: Mike_McAra
Briefly: we don't support any short-term positions in the Bitcoin market at this time.
Yesterday, we wrote about the worrying aspects of the fact that GHash.IO, a Bitcoin mining pool, had temporarily reached 51% of mining power, a phenomenon which could have potentially disastrous consequences, including the possibility to double-spend coins and reverse transactions.
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Sunday, June 15, 2014
US Dollar Index Huge Consolidation Pattern / Currencies / US Dollar
By: Austin_Galt
The title says it all really. Let’s first look at the yearly chart of the US Dollar Index to see what it means.
YEARLY CHART
Friday, June 13, 2014
Bitcoin Price Depreciation or Reversal – Which Will Prevail? / Currencies / Bitcoin
By: Mike_McAra
In short: no positions are suggested for the short-term.
SwiftBoatVet, a Reddit user, posted a couple screens they got while filling out a survey for PayPal. It seems that the survey itself was revolving around Bitcoin, asking for direct comparisons of the two payment systems. While this fits in quite well with the comments made recently by eBay’s (owner of PayPal) CEO, John Donahoe, who expressed the opinion PayPal could integrate Bitcoin, the survey itself turned out to be somewhat unclear since it treated Bitcoin more as a PayPal clone than a currency or payment system.
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