Forex

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WTI volatile, $70.00 appears closer Pablo Piovano

Prices of the barrel of West Texas Intermediate are trading on the defensive at the beginning of the week, gyrating over the $69.00 mark after briefly testing lows in the $68.30 area.WTI looks to OPEC, dataPrices of the WTI are struggling for direction at the beginning of the week, leaving behin...

17:46 25 June /2018 Forex

US stocks tumble on escalating trade tensions Haresh Menghani

Major US equity indices kicked off a new trading week on a downbeat note and tumbled during the opening hour of trade amid escalating US-China trade war fears.Trade tensions between the world's two largest economies showed no sign of abating as the US President Donald Trump now planning to put new curbs on Chinese investment i...

17:23 25 June /2018 Forex

EUR longs remained on declining trend, USD positions surged - Rabobank Sandeep Kanihama

According to IMM net speculators’ positioning as at June 19, 2018, speculators’ USD positions surged to their highest level since June 2017 last week reflecting capital outflows from emerging market and an indication from the FOMC that rates could be increased by a total of 4 times this year, points out the research team at Rabobank.

16:46 25 June /2018 Forex

Bitcoin Technical Analysis: Small break from heavy selling, but another sharp drop could be pending, with areas of vital support just under $5,500 area Ken Chigbo

  BTC/USD 30-minute chart Spot rate:                    6096.10Relative change:    ...

16:23 25 June /2018 Forex

EUR/USD scope for a move to 1.1750/75 – Scotiabank Pablo Piovano

FX Strategists at Scotiabank note the pair could extend the upside momentum to the 1.1750/75 band.Key Quotes“Charts are a little more supportive for the EUR outlook following Thursday’s strong, bullish reversal in price action (key reversal day)”.“EUR gains have been capped at 1.1675 consistently since late ...

16:00 25 June /2018 Forex

EUR/USD clinches multi-day tops near 1.1700 Pablo Piovano

The European currency gains further buying interest on Monday and is now pushing EUR/USD to fresh multi-day peaks in the vicinity of 1.1700 the figure.EUR/USD looks to risk trends, USDThe renewed softer tone around the greenback is allowing the pair to regain levels last seen since the ECB meeting a couple o...

15:23 25 June /2018 Forex

Gold Technical Analysis: any meaningful rebound likely to get sold into Haresh Menghani

   •  Struggles to register any meaningful recovery despite reviving safe-haven demand, amid concerns over a full-blown global trade war, and slightly oversold conditions.    •  An occurrence of death cross on the daily chart, 50-day SMA crossing the very important 200-day SMA from the top, adds credence to last week's bearish break below a medium-term ascending trend-lin...

15:00 25 June /2018 Forex

Bitcoin price analysis: BTC/USD embraces support at $50 SMA, intraday gains limited below $6,200; BTCC Pool Limited sells 49% to VC Holdings Limited John Isige

Bitcoin price declined further over the weekend smashing its way past the February lows to trade below $6,000. The short-term support was formed at $5,800, but the Bears increased their grip leading to lower corrections marginally below the demand zone at $5,800. This movement gave the buyers an entry during the session on Sunday, wh...

14:00 25 June /2018 Forex

WTI catches fresh bids, re-takes $ 69 on expectations of tighter markets Dhwani Mehta

WTI (oil futures on NYMEX) stalled its consolidative mode around mid-68s and regained momentum in a bid to test the $ 69 mark, as expectations of oil markets remaining tighter this year supported the sentiment around the prices.A slight drop in the US drilling ...

13:00 25 June /2018 Forex

Bitcoin price analysis: BTC/USD recovery stuck on approach to $6,200; Charlie Lee says the hardship makes us stronger Tanya Abrosimova

Bitcoin is changing hands at $6,150, mostly unchanged since the start of the day. The upside correction from Sunday's low is losing traction on approach to technically important levels. Obviously, the market is in desperate need of some positive news, that will serve as a signal for hibernating crypto bulls.Meanwhile, crypto bulls struggle to calm down s...

12:23 25 June /2018 Forex

EUR/USD Technical Analysis: survives a test of resistance turned support Haresh Menghani

   •  Manages to reverse early dip despite a modest USD uptick, with traders even shrugging off not too encouraging German business climate survey result.   •  A sustained move above 1.1675-80 immediate hurdle (50% Fibonacci retracement level of the post-ECB slide) would add credence to...

12:23 25 June /2018 Forex

EUR/USD neutral short term, points to further consolidation – UOB Pablo Piovano

FX Strategists at UOB Group noted the pair sticks to its neutral stance and has moved into a consolidative theme.Key Quotes24-hour view: “We expected the rebound in EUR “to test the 1.1645/50 resistance” last Friday but indicated that “a move beyond the next resistance at 1.1680 is not expected”. EUR subsequ...

12:23 25 June /2018 Forex

EUR/USD poised to test 1.1500 – Danske Bank Pablo Piovano

Jakob Christensen, Chief Analyst at Danske Bank, noted the pair still points to another visit to the 1.1500 handle.Key Quotes“Besides trade war developments, the majors will be in the hands of inflation data this week”.“Our quantitative business cycle models continue to point to weakness in the euro-area cycle, whereas the US outlook now seems more decent; this points to a case fo...

12:23 25 June /2018 Forex

EUR/USD extends the rebound to 1.1650 on IFO Pablo Piovano

The shared currency appears to have found some support in the 1.1630 region vs. the greenback earlier in the session and is now lifting EUR/USD back to the mid-1.1600s.EUR/USD reverts the dropThe pair reclaims the 1.1650 area after the German IFO survey came in mixed for the current month.In fact, German Bus...

11:23 25 June /2018 Forex

USD/JPY Technical Analysis: break below 50-DMA opens room for further downside Haresh Menghani

   •  Finally breaks below a symmetrical triangular formation on the short-term chart and drops to test the lower end of a two-week-old trading range.   •  With short-term technical indicators gradually drifting into bearish territory, weakness below 50-day SMA support suggests further downside in the near-ter...

11:00 25 June /2018 Forex

EUR/USD rallies to 1.1773 not ruled out – Commerzbank Pablo Piovano

Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair could attempt a rebound to the 1.1770/75 band.Key QuotesEUR/USD last week tested and bounced off the 1.1510 May low and in fact charted a key day reversal. The daily RSI also did not c...

10:23 25 June /2018 Forex

Issues beyond OPEC will drive oil prices in coming years – FT Dhwani Mehta

In an opinion piece published by the Financial Times (FT) over the weekend, the editor addresses two key issues beyond the OPEC decision that will shape up the oil markets in the coming years.Key Quotes:“The first is the situation in Venezuela, which has gone from bad to worse over the past two months. In the short term, the situation remains the greatest uncertainty hanging over ...

10:00 25 June /2018 Forex

EUR/USD probing session lows near 1.1640 ahead of IFO Pablo Piovano

The renewed selling bias is now hovering over the single currency, forcing EUR/USD to recede to the area of 1.1650/40, or daily lows.EUR/USD looks to data, sentimentAfter two consecutive daily advances, the pair is now showing some signs of weakness ...

09:23 25 June /2018 Forex

USD/JPY drops away from 110.00 as trade fears sap risk appetite out of markets Joshua Gibson

The USD/JPY is slipping lower heading into Monday's European market window, with the pair declining towards 109.00 as soured market sentiment weighs on the US Dollar against the Yen, which is receiving a minor boost from Japanese data from late in the Asia session.Japan's Leading Economic Index for April came in above expectations, printing a...

09:00 25 June /2018 Forex