Analysis Topic: Currency Market Analysis
The analysis published under this topic are as follows.
Thursday, May 01, 2014
ECB Draws a Line in the Sand for Euro Currency at $1.40 / Currencies / Euro
By: Gary_Dorsch
Two years ago, the big worry in the global markets was the possibility that Greece would opt to leave the Euro, which in turn, would set off a chain reaction, in which Portugal, Ireland, Greece, Spain, and Italy might also choose to do the same. The Euro’s credibility was at risk as it plummeted towards US$1.200. Nervous investors were thinking about withdrawing monies held on deposit with European banks. A mini-flight of capital was already underway. Businesses and households had withdrawn €80-billion ($103-billion), from banks in Greece, Ireland, Italy, Portugal, and Spain, during the first five months of 2012.
Thursday, May 01, 2014
USD/CHF – Strong Bearish Action / Currencies / Forex Trading
By: Nadia_Simmons
Earlier today, the U.S. currency moved lower after data showed that U.S. gross domestic product rose at an annual rate of 0.1% in the first quarter, well below expectations for a 1.2% growth. In reaction to this, the greenback declined sharply against the Swiss franc and reached the long-term support line once again. Will it withstand the selling pressure in the following days?
In our opinion, the following forex trading positions are justified - summary:
EUR/USD: none GBP/USD: none USD/JPY: none USD/CAD: none USD/CHF: none AUD/USD: short (stop-loss order: 0.9410; initial price target: 0.9060)
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Wednesday, April 30, 2014
Bitcoin Price at the Beginning of a Move up? / Currencies / Bitcoin
By: Mike_McAra
In short: we don’t support any short-term positions in the Bitcoin market at the moment.
It looks like Mt. Gox’s creditors in Canada and the U.S., or at least those of them who took part in the class action lawsuits, have come to an agreement with potential investors. Today, Reuters posted a story according to which former Mt. Gox customers had agreed to settle the class action lawsuits in exchange for the 200,000 bitcoins found at Mt. Gox, $20 million in other currencies and, perhaps most importantly, for a 16.5% stake in a revived Mt. Gox.
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Tuesday, April 29, 2014
Has The U.S. Dollar Lost its Safe Haven Status? / Currencies / US Dollar
By: Axel_Merk
The greenback isn't what it used to be. At least for now, when there's a "flight" to U.S. Treasuries; historically a sign of "safe haven" demand; the U.S. dollar has not only not benefited but has increasingly been on the losing end. Is this a temporary sign of special circumstances or has the dollar lost its safe haven appeal? There may be profound implications for investor's portfolios seeking downside protection.
Thursday, April 24, 2014
Weak U.S. Housing Data Supports Euro / Currencies / Forex Trading
By: Nadia_Simmons
Earlier today, the common currency moved higher against the U.S. dollar after data showed that the euro zone manufacturing PMI rose to 53.3 in April from 53.0 in the previous month (while analysts had expected an unchanged reading). Later in the day, the Commerce Department showed that sales on new homes dropped 14.5%, which supported the euro as well. Whether these positive numbers are in line with the technical picture of EUR/USD?
Tuesday, April 22, 2014
U.S. Dollar Crash In a Matter of Months? / Currencies / US Dollar
By: Jesse
In case you were wondering there is a Comex precious metal options expiration on Thursday the 24th.
Since the expiration is for the inactive month of May, I am wondering if they are not going to do an early hit with a head fake on this one as the day comes.
Monday, April 21, 2014
British Pound Looks Vulnerable At The Highs / Currencies / British Pound
By: Richard_Cox
Over the last year, the British Pound has been one of the strongest active currencies in the foreign exchange market. Most of the trends in this section of the market have been working off of the clear weakness in the US Dollar. But when we start to look at the underlying economic fundamentals (inflation rates, broader growth figures), the recent moves start to look extreme and overdone. So while this does not mean that we will see the Pound start to drop like a rock in the next few weeks, it is starting to look as though the upside in the currency is limited.
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Monday, April 14, 2014
Bitcoin Price Strong Appreciation to Be Followed by Declines? / Currencies / Bitcoin
By: Mike_McAra
In not too many words: we don’t support any short-term positions just now.
First of all, a security update coming from Bitcointalk, a forum for Bitcoin aficionados. The following message was posted on the site:
A bug in OpenSSL, used by Bitcoin-Qt/Bitcoin Core, could allow your bitcoins to be stolen. Immediately updating Bitcoin Core to 0.9.1 is required in some cases, especially if you're using 0.9.0.
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Friday, April 11, 2014
This Bitcoin Price Rally Might Be a Fake One / Currencies / Bitcoin
By: Mike_McAra
Cutting right to the chase: we still don’t support any short-term positions in the market.
Yesterday, we wrote that Chinese Bitcoin exchanges BTC100 and BTCTrade were ordered by the Chinese government to close their bank accounts used to receive customer deposits. Today, Reuters reported that another exchange, Huobi.com, issued a statement that the bank handling their account would close them by Apr. 18.
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Friday, April 11, 2014
British Pound GBP/USD - Double Top or Further Rally? / Currencies / British Pound
By: Nadia_Simmons
Earlier today, the greenback moved higher against the British pound after better-than-expected jobless claims data, which showed that the number of people filing for initial jobless benefits in the week ending April 4 declined to an almost seven year low. Will this drop in British currency trigger a bigger correction? What is the technical picture of cable? We invite you to read our today's Forex Trading Alert.
Tuesday, April 08, 2014
Bitcoin Price - Are We About to See Another Move Down? / Currencies / Bitcoin
By: Mike_McAra
Briefly: we don’t support any short-term positions now.
New Bitcoin-related products seem to be hitting the market every day now. New types of altcoins, new kinds of wallets, new services. The currency is surrounded by a wide umbrella of solutions which might help bring it to the attention of the mainstream public. So, what’s stopping us from using bitcoin debit cards? Cryptex, a Hong-Kong-based company asked themselves the same question and couldn’t think of a good reason not to.
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Saturday, April 05, 2014
Bitcoin Trading Clues from Price and Volume / Currencies / Bitcoin
By: Mike_McAra
In short: we don’t support any positions in the Bitcoin market at the moment.
The Financial Post reported that Bill Downe, CEO of the Bank of Montreal, expressed the view his company would consider dealing in Bitcoin was the currency a stable means of exchange:
If it was reliable and if it was regulated, “then there’s no reason why we couldn’t be an intermediary in bitcoin-related transactions,” Bill Downe said in an interview after the company’s annual general meeting in Toronto.
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Friday, April 04, 2014
Ukraine Preface, the Emerging Dynamics Of Petro-Yuan Standard / Currencies / Fiat Currency
By: Jim_Willie_CB
The shocks will be many as the USDollar struggles and falls off the global financial stage in full view. The desperate maneuvers like in Syria and Ukraine should be seen as last ditch efforts to save a dying system. For two decades the USDollar has been defended by military means. Worse, for 50 years the USGovt has been a hidden nazi enclave of wicked fascists who have hidden behind their overt disdain for communism, with Kissinger the flag bearer, with Brzezinski the ideologue, with Papa Bush the executor, with narcotics and genetics and gold thefts their principal agenda. The official US support of fascist regimes includes a list of nations as long as your arm. Since 2008 when the Lehman kill was executed in order to rescue Goldman Sachs, when Fannie Mae was hidden under the USGovt roof to prevent its $trillion fraud from being exposed, and when AIG was tucked in the USFed basement closet for ample monetized rescues to patch the derivative black holes, the Anglo-American banking system has indeed been going through trials and tribulations, leading to its death throes. The climax of the banking system death process is upon us finally, the fibrillations of sudden illiquidity against the backdrop of relentless unforgiving insolvency so evident to those with eyes that function.
Tuesday, April 01, 2014
Bitcoin Price Moving up to $500 but Is This to Last? / Currencies / Bitcoin
By: Mike_McAra
In not too many words: we don’t support any short-term positions in the market now.
Mobile payments company Square announced yesterday it would accept Bitcoin on its online website Square Market, which enables retailers to feature their merchandise. Ajit Varma, Square Market Lead wrote:
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Tuesday, April 01, 2014
The Clock Is Ticking on This Massive Currency Shift / Currencies / Fiat Currency
By: Money_Morning
Shah Gilani writes: Last week I was asked by a Wall Street Insights & Indictments reader about a new challenge to the U.S. role in the global economy that few are considering.
It's a dominant role we've held since the latter part of World War II, and for 70 years it's gone largely unchallenged.
Until now.
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Monday, March 31, 2014
Bitcoins, Are Cryptocoins Money? / Currencies / Bitcoin
By: Michael_S_Rozeff
The bottom line is that cryptocoins are not money. The Austrian analysis rules.
Money’s key property is that it is a numeraire for goods. Wikipedia puts it this way:
“Numéraire is a basic standard by which value is computed. Acting as the numéraire is one of the functions of money, to serve as a unit of account: to measure the worth of different goods and services relative to one another, i.e. in same units.”
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Monday, March 31, 2014
How to Profit from ECB’s Attempts to End Economic Depression / Currencies / Euro
By: DailyGainsLetter
Mohammad Zulfiqar writes: Remember what happened in the U.S. economy when the financial system was about to collapse? The banks weren’t lending to each other, businesses, or even consumers. The U.S. economy was in a deep economic slowdown. Investment banks like the Lehman Brothers had already collapsed and more would follow. Something had to be done or else it would be a disaster situation.
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Sunday, March 30, 2014
Bitcoin Scam - MTGox Finds 200,000 Behind Sofa, How Many More Hidden in old Socks, Coat, Shoes? / Currencies / Bitcoin
By: Nadeem_Walayat
MtGox which stands for 'Magic the Gathering' and not 'Mount Gox' that the mainstream broadcast press still mistakenly reports it as, has apparently found 200,000 of the estimated 800,000 missing bitcoins behind what amounts to an electronic sofa, as MtGox reveals that 200,000 bitcoins worth approx $100 million were found in an old digital wallet kept off line (old hard drive) that effectively blows a hole in their whole story to date of being innocent victims of 'bitcoin transaction malleability' (causing transactions to be issued twice) as the means by which theft of the MTGox bitcoins took place that MtGox representatives have been spouting of since at least Mid Feb when the web site filed for bankruptcy.
Friday, March 28, 2014
Bitcoin Price Pause at $500. Is It Temporary? / Currencies / Bitcoin
By: Mike_McAra
If you don’t have time: we think shorts could become more profitable.
We’ve long been discussing Mt. Gox’s fall and the credibility of Mt. Gox’s claims that their Bitcoins might have been stolen via transaction malleability exploits. It now turns out that Christian Decker and Roger Wattenhofer of the Swiss Federal Institute of Technology in Zurich came up with a paper in which they analyze Bitcoin transactions on Mt. Gox starting with data from January 2013.
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Thursday, March 27, 2014
USD/JPY Capped In A Triangle / Currencies / US Dollar
By: Gregor_Horvat
Despite strong sell-off from 103.74 two weeks back {{3|USD/JPY}} is moving sideways for too long now, so we assume that market is trapped in some bigger corrective pattern. Because swing low since start of February are still in place we are observing a triangle idea with wave (c) underway now to 103.00 area, especially bounce bounce from 101.20 is already showing signs of a corrective move. Keep in mind that each leg within a triangle unfold in corrective manner, thus in three legs.
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