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BITCOIN Non-Commercial Speculator Positions:Large cryptocurrency speculators nudged their bearish net positions up a tick this week in the Bitcoin futures markets, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.The non-commercial futures contracts of Bitcoin futures, traded by large speculators and hedge funds, totaled a net position of -1,679 contracts in the data reported through Tuesday May 29th. This was a weekly…
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GBP/USD
The British pound fell a bit during the session on Monday, but again of course we have just had the May Day celebrations, which of course would naturally work with lesser volume. I believe that the 1.2750 level underneath continues to be support, and I think that it’s only a matter of time before the buyers return on a pullback. I like the idea of reaching towards the 1.30 level above, and after that the 1.3450 level after that as it is the top of the previous consolidation area. I think that th…
GOLD
After running above the $1,295-level in the middle of April as the post-March rate hike rally extended further, Gold prices have begun to reverse and have continued to head-lower as we march towards another FOMC rate decision on Wednesday of this week. This is relevant because over the past six months, the two rate hikes offered from the Federal Reserve have appeared to function like kerosene on a scalding hot market, further driving the bullish move in the wake of the Fed’s policy tightening. …
EUR/USD
The EUR/USD pair initially rallied during the day on Tuesday, but the 50-day exponential moving average has yet again offered resistance. It looks now that every time this market rallies, the sellers are willing to jump in. I believe we are going to reach towards the 1.05 handle underneath, but that is a massive barrier to overcome. Because of this, I think short-term scalping to the downside will more than likely be the best way to trade this market, and therefore short-term rallies offer value…
USD/JPY
По време на търговията вчера доларът понижи стойността си от 114.41 до 114.06 йени. Тази сутрин валутната двойка се търгува на нива 114.04. При движението днес, ако доларът преодолее успешно зоната на съпротива 114.56 - 114.65 йени, целта на движението ще е достигане и тест на зоната 115.19 - 115.23 йени. При успех, възходящото движение ще продължи към 115.56 - 115.65. При спад под зоната на подкрепа 113.65 - 113.56 йени, то следваща подкрепа ще бъде зоната 113.23 - 113.19 йени. При пробив и на …
EUR/USD
The EUR/USD pair went back and forth on Thursday as we continue to try to jostle for position at of the Nonfarm Payroll Numbers. Ultimately, this is a market that sees quite a bit of resistance just above, both in the form of the 100-day exponential moving average, and of course the 1.1150 level above. I think that it is far too noisy above that level to go long at this point so this is essentially a “sell only” market at this point in time, and a break down below the bottom of the range for the…
EUR/USD
This pair was very bullish yesterday, producing another strong rise from the London Open which continued to reach new highs during the day. The U.S. Dollar was hit badly and the Euro was helped by the strength of the Swiss Franc as that strengthened greatly due to the flow to safe-haven assets. The momentum is in the bullish direction and we continued to break resistance levels yesterday. The Bank of England’s key input later today may cause volatility for the Euro. A pull back to 1.1084 would b…
USD/JPY
The USD/JPY pair bounced a bit during the day on Monday, after gapping lower. It appears that the market is still attracted to the 105 level, and that we could very well break above there given enough time but I feel that we need to continue to build up quite a bit of momentum in order to actually make this move. The 103 level below continues to be the “floor” in this market as we have quite a bit of bullish pressure. I have no interest in selling, and I feel that given enough time we will reach…
GBP/USD
The British pound fell during the course of the session on Thursday, but as you can see we have quite a bit of support just below, and as a result the 1.2850 level is the absolute “floor” as far as I can see, and as a result I believe that a break down below there would be very bearish and perhaps reach down to the 1.25 level below. Ultimately, I think every time we rally at this point in time, exhaustive candles will be selling opportunities as well. Remember, we are still punishing the British…
EUR/USD
The EUR/USD pair went back and forth during the course of the session on Thursday, forming a fairly choppy and neutral candle. This tells me just how difficult this pair is at the moment, and as a result I think we are going to continue to see downward pressure overall, but it’s not going to be a straight line down to the 1.1150 level, which I think is where we are heading. I also recognize that the downtrend line on the chart suggests that the dollar pressure continues, so it’s not until we bre…