Top Trade Idea For September 17th, 2014

The AUD/NZD currency pair is looking very interesting from a technical point of view. After it finally broke above sturdy resistance of 1.1035 in mid-August, the currency cross went on to achieve a high of 1.1294 before pulling back sharply from there. But I think this latest pullback was caused primarily by longs taking profit, for price had already reached ... Read More »

Chart Of The Day For September 17,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104 The Euro is edging higher against the US Dollar as expected after producing a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.2981 exposes the 23.6% level at 1.3057. Alternatively, a turn below the 50% Fib expansion at 1.2864 opens the door for a test of the 61.8% threshold at ... Read More »

Scottish Pride Pounds Sterling

The U.S. dollar remains king. It has risen against a broad basket of currencies for nine consecutive weeks and so far has completed its longest winning streak in 17 years. Will the Federal Reserve end its winning ratio or is it to be a temporary blip before pushing on to greater heights? Many expect the greenback to continue its rally, ... Read More »

Further risk aversion seen ahead of Fed and Scottish vote

Scottish referendum polls remain neck and neck, uncertainty hits risk appetite; Tomorrow’s FOMC decision adds further uncertainty into the markets; UK inflation falls again in August, but it doesn’t appear to be worrying the BoE. With so many risk events to come this week, investors are understandably risk averse again today, with European stocks tumbling and US futures pointing to ... Read More »

Pound May Pay Little Heed to UK CPI with Scotland Vote in Focus

Talking Points: Pound Unlikely to Find Lasting Fuel in UK CPI with Scotland Vote in Focus US Dollar Volatility Risk Favors the Downside as PPI Report Lines Up Ahead See Economic Releases Directly on Your Charts with the DailyFX News App Augusts’ UK CPI data headlines the economic calendar in European hours. Expectations call for the headline year-on-year inflation rate ... Read More »

Bitcoin Breaks Lower, More Losses Likely

Want to Trade Bitcoin? ForexNews RecommmendsClick Here To Learn More. Bitcoin took out the $460 support yesterday. Initially prices only fell slightly to a daily low of $456 before rebounding to retest $460. But today BTC/USD continued the move lower to hit a new multi-day low of $452.85. One coin is currently selling for $456.88 on BTC-E. Prices are 7 ... Read More »

Chart Of The Day For September 16th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104 The Euro may be preparing to correct higher against the US Dollar after prices completed a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2981, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at 1.3057. Alternatively, a reversal below the 50% Fib ... Read More »

Dollar and Sterling Get Direction

Strap in and be prepared for opportunities, as this is a big week for investors and capital markets. Geopolitical events, a few central bank meetings, and the Scottish referendum are supporting the recent uptick to both volume and volatility, especially in the forex asset class. The U.S. dollar remains king, as both the currency and global yields rise ahead of ... Read More »