Analysis Topic: Currency Market Analysis
The analysis published under this topic are as follows.
Thursday, June 12, 2014
USD/CAD Seeks Corrective Pullback / Currencies / Canadian $
By: Gregor_Horvat
USDCAD Daily
On USDCAD we are tracking a deep but still corrective price action from start of the year. We are looking at wave 4) that is part of an big impulsive rally from a weekly chart. Usually fourth waves will find a support around 28 or 50% retracement level compared to wave 3) which in our case comes in around 1.0730. As such, we see pair now trading down within final stages of a corrective retracement, so we need to be aware of a bullish reversal, probably at the start of June.
Wednesday, June 11, 2014
EUR, GBP, AUD Currency Bears in Charge / Currencies / Forex Trading
By: Nadia_Simmons
Today, the common currency continued to move lower against the greenback as Treasury yields in the U.S. continued to rise. In reaction to this, EUR/USD declined below 1.3600 and reached important support lines. Will they stop currency bears?
In our opinion, the following forex trading positions are justified (stop-loss order levels were adjusted) - summary:
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Tuesday, June 10, 2014
Bitcoin Price More Appreciation to Come but Not Just Now / Currencies / Bitcoin
By: Mike_McAra
In short: we don’t support any short-term positions in the Bitcoin market at the moment.
John Donahoe, eBay’s CEO, told CNBC PayPal was “going to have to integrate digital currencies.” He also expressed the view that digital currencies would “play an important role going forward."
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Tuesday, June 10, 2014
British Pound or U.S. Dollar: Which Will Win The Race? / Currencies / British Pound
By: Richard_Cox
For most of this year, there has been a relatively clear cut race between the British Pound and the US Dollar. The outcome so far has been surprising, as the central bank stance in these two economies clearly favors the British Pound. As the US Federal Reserve looks increasingly committed to cutting its historic QE programs, most might have expected that the greenback would have had a banner year. But this has not occurred, and many have been left surprised as a result.
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Monday, June 09, 2014
GBP/USD: Corrective Retracement From 1.6995 / Currencies / British Pound
By: Gregor_Horvat
The GBP/USD traded higher last week and made an overlap with 1.6810 which means that any bearish impulse wave count has been invalidated. As such, we are now observing a new, bullish interpretation because reversal from around 1.6995 can be counted as a double zigzag. Notice that price also found a support a week back around the lower support line of a trading channel.
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Sunday, June 08, 2014
AUD Australian Dollar Trading - New levels, good trades and more gains / Currencies / Forex Trading
By: Submissions
Mustafa Hindawi writes:
Looking at Australian Dollar price action during Q1 this year, we can see how it managed to earn against other currencies.
Recent Data releases showed that the Australian economy grew by 1.1 per cent in the first quarter from the fourth quarter and was up 3.5 per cent from the same quarter a year ago. Exports drove the surge.
Saturday, June 07, 2014
Bitcoin Use - eBay, PayPal, Apple & Dish Approve Of Bitcoin. Is Google Next? / Currencies / Bitcoin
By: Jeff_Berwick
Justin O'Connell writes: Bitcoin has proven itself as an established payments system, with some of the world's most influential people commenting on its utility and innovation. Stephen Colbert called it "gold for nerds," and Joe Rogan has been fascinated by the technology, having Andreas Antonopoulos on as a guest to the Joe Rogan Experience twice now. Some political figures have expressed concerns over the currency's potential non-crime of "money laundering", but overall the sentiment has focused on the technology and its goundbreaking nature. And so its really no surprise that many companies have adopted bitcoin. Bitcoin has now surpassed Western Union in total transaction volume and looks set to pass Paypal this year.
Friday, June 06, 2014
Bitcoin Whales, The Mt. Gox Collapse: Good riddance! / Currencies / Bitcoin
By: Mark_Blair
Bitcoin (and Friends) Enter a New Phase (and Other Information):
These articles are from deep within the crypto-geek scene. We hope to establish prowess.
We see right now that a major shift is underway:
Wednesday, June 04, 2014
Bitcoin Price Reversal or No Reversal? / Currencies / Bitcoin
By: Mike_McAra
In short: we don't support any short-term positions now.
The big news of the day is the relatively small change in Apple policy which might, nonetheless, suggest that the company is changing its stance on virtual currencies, most notably on Bitcoin. The Guardian reported that Apple had changed its application review guidelines. The most interesting bit for Bitcoin enthusiasts is point 11.17 of the new rules:
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Tuesday, June 03, 2014
The Government's Disastrous Reign over U.S. Money / Currencies / Fiat Currency
By: EWI
Very few people know that the United States did not create a monetary unit pegged to "buy" some amount of metal, as if the dollar were some kind of money independent of metal.
In 1792, Congress passed the U.S. Coinage Act, which defined a dollar as a coin containing 371.25 grains of silver and 44.75 grains of alloy. Congress did not say a dollar was worth that amount of metal; it was that amount of metal. A dollar, then, was a unit of weight, like a gram, ounce or pound. Since the alloy portion of the coin was nearly worthless, a dollar was essentially defined as 371.25 grains -- equal to 24.057 grams, or 0.7734 Troy oz. -- of pure silver. (15.43 grains = 1 gram, and 480 grains = 1 Troy ounce.)
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Monday, June 02, 2014
U.S. Dollar Distorted, Dislocated and Discombobulated / Currencies / US Dollar
By: Raul_I_Meijer
It looks like we’ll have a few more days to watch this thing, this alleged market, until on Thursday Mario Draghi launches his modern day version of Greenspan’s oracle years and on Friday the BLS, which can rival any oracle when it comes to confusing utterances, has the US employment numbers. There seem to be people who think those numbers might be quite good, though that might be hard to imagine in the wake of a shrinking US economy. Then again, in an environment where very few numbers make sense anymore, it’s anyone’s call.
Thursday, May 29, 2014
Will GBP/USD Plunge Again? / Currencies / Forex Trading
By: Nadia_Simmons
Earlier today, the Bureau of Economic Analysis reported that U.S. gross domestic product in the first quarter declined for the first time since the first quarter of 2011. Despite this bearish data, the report also showed that consumer spending increased by 3.1%, indicating that economic activity has rebounded. Additionally, the Department of Labor showed in its weekly report that initial claims for jobless benefits in the U.S. last week fell by 27,000 to 300,000, beating expectations for a decline of 9,000. Thanks to these better-than-expected numbers, the U.S. dollar bounced off the session low, pushing the British pound below the 50% Fibonacci retracement once again. Will this decline trigger further deterioration?
Thursday, May 29, 2014
The 500 Cryptos That Aren't Bitcoin: Intro to Altcoins / Currencies / Bitcoin
By: Submissions
Mark Blair writes:
for those outside the crypto sphere, cryptos are pretty much just Bitcoin. However, I offer here a tour of the 'altcoin' universe: Bitcoin is by no means a done deal, readers, as any altcoiner knows.
For example, a year ago, Bitcoin held 95%-plus of the total market cap of all cryptos. There are over 500 cryptographic currencies at present, though at least 300 are rubbish, and will die. See com-http.us for the best list I know of.
Wednesday, May 28, 2014
Bitcoin at Major Crossroads / Currencies / Bitcoin
By: Mike_McAra
Very briefly: we don’t support any short-term positions in the Bitcoin market now.
Today, we read an interesting piece on CoinDesk on the potential of Bitcoin derivatives. The article discusses why derivatives might be needed for the Bitcoin market and how liquid derivatives markets might emerge for the cryptocurrency.
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Wednesday, May 28, 2014
AUD-NZD – Who Will Win The Bledisloe Currency Cup? / Currencies / Forex Trading
By: Austin_Galt
While the Kiwi’s dominate the rugby version, just how does their currency stack up against that of the Wallabies? There’s no better place to start than the yearly chart to get the big picture so let’s take a look.
Wednesday, May 28, 2014
USD/JPY Trapped In Corrective Price Action? / Currencies / Japanese Yen
By: Gregor_Horvat
The USD/JPY is turning into a temporary recovery, and the reason is slow and overlapping price action at the late stage of recent decline that looks like an ending diagonal placed in wave C position, final leg of a three wave fall from 104.11. Therefore, we suspect that the USD/JPY is trapped in some bigger corrective price action, probably a triangle, and that pair will continue sideways or even slightly higher in the next couple of days. We expect a three wave rise up in wave C), back to 103.00.
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Tuesday, May 27, 2014
EUR/USD Currency Bears Are Still in Charge / Currencies / Euro
By: Nadia_Simmons
The euro declined against the U.S. dollar as positive housing and consumer confidence data supported the greenback. Earlier today, the Commerce Department reported that core durable goods orders (without volatile transportation items) increase 0.1% in April, missing expectations for a 0.3% increase. Despite this disappointing data, U.S. durable goods orders rose 0.8% in the previous month, beating expectations for a 0.5% fall. Additionally, the Conference Board reported that its consumer confidence index rose to 83.0 this month from 81.7 in April, while the Standard & Poor’s/ Case-Shiller house price index rose 12.4% in March from a year earlier, above expectations for a gain of 11.8%. Thanks to these solid numbers, the common currency dropped to its nearest support zone. Will it withstand the selling pressure once again?
Tuesday, May 27, 2014
This Chart Proves the Bitcoin Market Is Maturing / Currencies / Bitcoin
By: Money_Morning
David Zeiler writes: One of the biggest knocks on the Bitcoin market has been the volatility of the price of Bitcoin, and looking at the price charts over the past six months, it's easy to see why.
But as crazy as the Bitcoin market has been - just take a look at the timeline - the lack of any major news over the past few weeks has had a distinct calming effect on the digital currency.
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Tuesday, May 27, 2014
Time for a Post-Petrodollar Investor Profit Play / Currencies / Forex Trading
By: Money_Morning
Peter Krauth writes: Beware of unintended consequences.
That's the advice I'd give Western leaders when imposing sanctions on Russia over the Ukraine crisis.
You see, Putin's been racking up his air miles, hastening the pace to replace the petrodollar.
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Tuesday, May 27, 2014
GBP/USD: Bearish Reversal, Recovers Nicely / Currencies / British Pound
By: Gregor_Horvat
GBP/USD has recovered nicely last week, clearly in three waves 1.6728 to 1.6920. The pair reached our mentioned levels around 1.6900 where markets already turned slightly to the downside, and fell through support channel line that now makes room for a decline back to 1.6728 in this week.
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