Cable trims to decline as it looks to keep the uptrend going (23-Jan-2021 at 12:03:07 am)
Steady as she goes Cable is 45 pips above the session low and set for the highest weekly close since May 2018. It had a setback today after touching a two-and-a-half year intraday high today but the market is taking the soft PMI and retail sales numbers in stride. It's another example of the market's ability to
EURJPY makes a break(s) higher today (22-Jan-2021 at 10:36:47 pm)
Back above the 200 hour MA for the first time since January 12 The EURJPY is making a break(s) higher in trading today. The first break was to get back above the 200 hour MA. That break took the price up to a topside trend line where sellers initially leaned. After a retest of the 200 hour
The EURGBP moves back above key resistance turning seller to buyers (for now) (22-Jan-2021 at 09:39:17 pm)
There is more work to do if the buyers are to take more control , I spoke to how the EURGBP had moved below key support from the daily chart at the 50% of the trading ranges since December 2019 at 0.88788, and a key swing area between 0.88603 and 0.88766. The price had corrected into
USDCAD based and raced higher. (22-Jan-2021 at 08:54:31 pm)
Price is trying to stay above the 100/200 hour MAs Yesterday, the USDCAD moved to in another low going back to 2018 but in the New York afternoon session was able to extend back above a swing area between 1.2623 and 1.26294. , I outlined that if the price could stay above that level, there could be more upside probing, but ultimately
AUDUSD trades back below the 200/100 hour MAs in (22-Jan-2021 at 08:32:03 pm)
But retesting the MA levels as stocks rebound off the lows The AUDUSD trended lower as stocks headed lower into the NY session. There were also concerns in the Asian market that Hong Kong would impose lockdown restrictions as a result of covid outbreak.
US stocks opened lower but see some early buying (22-Jan-2021 at 07:39:26 pm)
Major indices down around -0.3% to -0.6% in early trading the US stocks opened lower but are seeing some early buying. A snapshot of the market currently shows:
EURUSD waffles around in a narrow trading range (22-Jan-2021 at 07:36:38 pm)
38 pip trading range today for the EURUSD. Up and Down. On Wednesday this week, the price tried to make a break but failed, and the price fell back but found support against the underside of a broken trend line. The pair has moved higher since then, and the move above the 200 hour MA is
USDJPY trades above the 100/200 hour MA to new session high (22-Jan-2021 at 07:09:17 pm)
The USDJPY is trending higher For the week, the high reached 104.08. The low extended to 103.326 yesterday. The low reached just above the 61.8% of the 2021 range at 103.276. The price moved below the 100/200 hour MAs on Wednesday and stayed below until today's climb back above. Ups and downs. In an up now.
GBPUSD trends lower after run above key swing ceiling area fails (22-Jan-2021 at 06:37:04 pm)
Moves down below 100/200 hour MAs and tests 50% retracement The GBPUSD trends lower after the break above a key swing area between 1.3700 to 1.37088 failed and the buyers turned to sellers.
The USD is the strongest and the AUD is the weakest as NA traders enter for the day (22-Jan-2021 at 06:12:03 pm)
US stocks down in early trading The ranges and changes are showing mixed activity. The commodity currencies (CAD, AUD, and NZD) are trending (to the downside) and trade near extremes. The USDJPY and USDCHF have narrow trading ranges at 25 and 23 pips. The GBPUSD is moving lower and near lows for the day. The EURUSD
US stocks close mixed. S&P and NASDAQ record closes. Dow down on the day (22-Jan-2021 at 02:14:28 am)
Russell 2000 index also lower All indices closed at records yesterday. The close higher in the S&P and NASDAQ are therefore new record closes today.
Intel earnings after the close... wait they are being reported early (22-Jan-2021 at 01:50:17 am)
$1.52 vs 1.10 Est Revenues $20B vs 17.5B estimate Intel earnings will be announced after the close. The firm is expected to earn $1.10 per share on revenue of $17.48 billion. This compares to the year-ago quarter when earnings were $1.52 per share on revenue of $20.21 billion.
WTI crude oil futures for March delivery settles at $53.13 (22-Jan-2021 at 12:40:43 am)
Down -$0.17 or -0.34% The high price for the day reached $53.41. The low price extended to $52.75 Looking at the hourly chart above, the low prices today stalled near the converged 100 and 200 hour moving averages (blue and green lines). Those moving averages are currently at $52.81. Stay above is more bullish. Move below is
NASDAQ index moves back toward the highs for the day (22-Jan-2021 at 12:33:21 am)
Earlier high for the day reached 13544.46 The index is now up some 4.6% from the low from Monday. The pair gapped up yesterday (on Inauguration Day) to new all time highs. A positive close today in the NASDAQ and also the S&P and Dow industrial average would be record highs yet again.
USDCAD moves to a new session high after new low going back to 2018 finds buyers (21-Jan-2021 at 11:07:26 pm)
Back above swing area between 1.2623 and 1.26294
EURUSD moves back down to retest support on the hourly chart (21-Jan-2021 at 10:29:55 pm)
200 hour MA, trend line and swing area being tested again The EURUSD has moved back down to retest the 200 hour moving average at 1.21335, a swing area between 1.21315 and 1.21403 and an upward sloping trendline near 1.2134. The pair moved above that level in the London/European session and retested earlier in the North American session.
European shares close lower on the day (21-Jan-2021 at 09:48:20 pm)
German DAX -0.1%. France's CAC -0.4% In the US stock market as London traders look to exit, the markets are currently mixed with the S&P and Dow industrial average negative while the NASDAQ index is still higher:
EURGBP remains below the swing area/midpoint (21-Jan-2021 at 09:32:00 pm)
Swing area between 0.8860 to 0.88766. 50% midpoint at 0.88788 The EURGBP moved below a swing area AND the 50% retracement of the range since December 2019 at 0.88788. The swing area comes in between 0.88603 and 0.88766. It has a number of swing highs and lows going back to March 2020, with a strong floor developed between May and
USDCHF falls to new session lows. Tests swing low from last week. (21-Jan-2021 at 09:03:30 pm)
Price falls from 100 hour MA and cracks below lower trend line The USDCHF just moved down to test the low from January 13 at 0.8849. The low price reached 0.88474.
USDJPYs move below the years midpoint can't be sustained (21-Jan-2021 at 08:15:08 pm)
Pair retraces the move lower and sets a double bottom and double top for the day The USDJPY traded lower in the Asian session and in the process moved down to a low of 103.326. That low could not reach the next target at the 61.8% retracement and the price rebounded.
US stock open higher. New records for the big 3 indices. (21-Jan-2021 at 07:34:20 pm)
NASDAQ leading the way. Gains in Dow more modest The NASDAQ index is leading the way. The Dow is just above unchanged. The snapshot currently shows
GBPUSD stays above key swing area on the dip. Bullish (21-Jan-2021 at 07:30:41 pm)
Stay above the 1.3700 to 1.37088 area keeps the buyers break in play Recall from yesterday, the price did extend above that level, but quickly reversed all the way down to the 100 hour moving average where buyers came in to stall the fall. Getting back above the swing area keeps the buyers in control as the gains today
EURUSD spikes higher but reverses back lower (21-Jan-2021 at 07:16:08 pm)
Still above the 200 hour MA The EURUSD spiked higher and in the process reached the 38.2% of the move down from the January 6 high at 1.21658. The high price reached 1.21723 but quickly reversed back lower and currently trades around 1.2150 area. Lagarde said that FX appreciation is a drag on inflation. That has
Dollar continues to keep weaker on the session (21-Jan-2021 at 02:54:32 pm)
Fresh session highs for a couple of dollar pairs EUR/GBP looking rather vulnerable The pair is contesting a break above its 200-hour moving average (blue line) and that is seeing buyers threatening to seize near-term control.
Cable eyes firm break above 1.3700, pushes to highest levels since May 2018 (21-Jan-2021 at 01:57:35 pm)
GBP/USD climbs to a high of 1.3730, its highest level since May 2018 The push higher in cable comes as we see a further breakdown in EUR/GBP to start the session, with the pair slipping to 0.8832 - its lowest levels since May last year - as price threatens to break key support at 0.8866-67 more
Bitcoin unlikely to replace gold (25-Jan-2021 at 04:03:20 am)
Commentary from Singapore's DBS Bank on BTC and gold - says the crypto is unlikely to replace gold in portfolios as a risk diversifier. (ps. the note is from late last week)
30 people in Japan charged for exchanging stolen cryptocurrency (22-Jan-2021 at 09:10:09 am)
Kyodo with the report - the 30+ people were arrested for allegedly exchanging NEM cryptocurrency for other digital currencies while knowing the assets had been stolen.
Bitcoin drops under $30K (22-Jan-2021 at 05:40:24 am)
Crypto wobbles continue following the slide in the previous 48 hours or so. BTC back to early January levels after hitting 40K+ in the second week of this month.
Bitcoin runs away from the 100/200 hour MAs (21-Jan-2021 at 10:00:46 pm)
Looks toward the $30000 and 50% retracement level The price of bitcoin has been consolidating above and below the 100 and 200 hour moving averages over the last 6 so trading days (see blue and green lines in the chart below). The moving averages had converged indicative of a non-trending market. The buyers and sellers are battling it out.
The volatility swings continue in Bitcoin (21-Jan-2021 at 02:11:45 pm)
Bitcoin falls by nearly 5% to $33,115 on the day The latest drop sees Bitcoin post an hourly close below $34,000 for the first time since 13 January as previous dips had been quickly bought back up above $34,000 in recent days. That said, key support has not been breached .
UBS on how Bitcoin can go all the way back to zero (20-Jan-2021 at 05:45:11 am)
Cryptocurrency comments from UBS ( chief investment officer for global emerging markets,) via a Bloomberg report. This was out a while back, posting ICYMI:
Bitcoin extends to new session highs (19-Jan-2021 at 09:27:31 pm)
Trading away from its 100/200 hour moving averages Trading yesterday so the price move back above the 100 and 200 hour moving averages but stalled just ahead of the 61.8% retracement of the range since January 8 at $37,445.78. The subsequent fall move back below the aforementioned moving averages once again.
Bitcoin tumbles. Down over 10% on the day (15-Jan-2021 at 09:07:13 pm)
Bitcoin falls back below its 200 and 100 hour moving averages Looking at the hourly chart, the price has accelerated to the downside after breaking back below its 200 hour moving average at $37,599 and then its 100 day moving average at $36,030. Stay below those levels tilts the bias more to the downside from a technical perspective.
Bitcoin moves to a new session high. (14-Jan-2021 at 08:03:31 pm)
Trades up around 6.4% on the day at the highs Looking at the hourly chart above, the price has moved above the 100 and 200 hour moving averages currently at $35,663 and $37,266 respectively (blue and green lines in the chart above). Stay above those moving averages keeps the buyers in control.
Bitcoin surges to new session highs. Up 4.1%. (14-Jan-2021 at 01:30:07 am)
Test 100/200 hour MA The price of Bitcoin is on a run to the upside. It currently trades up around $14300 and $36,180. That is a gain of 4.16%.
Goldman Sachs says bitcoin is starting to mature but institutional money is a tiny fraction of the market (13-Jan-2021 at 03:20:45 am)
CNBC carried the report citing view of GS' head of commodities research Jeff Currie: to the article to check out if you wish. Here is the link Is Currie on the right track? Comments welcome!
Bitcoin fraud? Allegations that Bit Digital (BTBT) a fake cryptocurrency business (12-Jan-2021 at 05:05:33 am)
Here is a link to a piece by J Capital Research, a US research reports company focusing on publicly traded companies. They've highlighted their research here on what they say is a likely fraudulent company:
Bitcoin reaches down toward $30K but finds buyers. What are the charts saying after today's sharp fall? (11-Jan-2021 at 08:59:55 pm)
High on Friday reached near $42K. The price of bitcoin has now reached down to a new low of $30,251. The high today (on the Coinbase exchange) reached $39071.13. The price closed on Sunday at $38048.94. The high price from last week, and the all-time high price, reached $41986.38. The % move from that high to
USD strength in Asia persists, and Bitcoin is back on the defensive (11-Jan-2021 at 07:26:38 am)
Early Asia moves are persisiting, FX is making new lows for the session against a flexing US dollar. Gold too has dipped, lows under $1820 but slightly up on that level now.
Old news (ICYMI) --> "Bitcoin holders barred from depositing profits in UK banks" (11-Jan-2021 at 03:44:37 am)
The UK Times had a piece up over the weekend (Saturday) on some UK banks not accepting transfers from BTC exchanges. the crypto has had a wild few hours, so the hunt for a narrative seems to have landed on this article. But, as noted above, 'tis a wee bit old.
Bitcoin has had a wild ride the past few hours (11-Jan-2021 at 03:28:56 am)
The crypto lost 10%+ and is in recovery mode as I update. The price drop came amid reports that a big exchange was having tech issues, Coinbase was down.
Bitcoin moves closer to $40K level (07-Jan-2021 at 10:24:53 pm)
High price reached $39,721 on Coinbase today. The price of Bitcoin on Coinbase continued its meteoric run to the upside. In doing so the digital currency has moved closer to the $40K level. The high price today has reached $39,721 - just short of the $40,000 level.
Bitcoin continues to be red hot as it hits $38,500 (07-Jan-2021 at 07:12:57 pm)
Hang on for dear life There's no real technical analysis to do on a chart like this. It's a parabolic move and -- just like the move in 2017 -- you have to buy and hang on for dear life.
Bitcoin moves to a new all time high (07-Jan-2021 at 02:14:20 am)
New all time high reached at $36364 The price of bitcoin (on Coinbase) has moved to an all-new time high price of $36,371. The low today reached $33,352.54. The current price trades just off the high level at $36,371 up $2590.
Bitcoin above US$35,000, a new record high (06-Jan-2021 at 09:27:14 am)
The crypto on a renewed surge ... 35,500+ as I update ... 35,700+ ... it rising faster than I can type
US Treasury to allow US banks to use blockchain settlement (05-Jan-2021 at 06:39:04 am)
The US Office of the Comptroller of the Currency (OCC) is the federal banking regulator and an independent bureau within the United States Department of the Treasury.
JP Morgan on Bitcoin's "quantifiable intrinsic value" (yes, really) (05-Jan-2021 at 06:21:40 am)
Via a note from JP Morgan on the leading cryptocurrency, BTC: I'm sympathetic to this view but unconvinced. I'm not sure its of much relevance given the price is above US$32,000 as I update anyway.
Bitcoin plunges back under $30,000 (04-Jan-2021 at 03:27:16 pm)
Easy come, easy go for Bitcoin Mainstream media is filled with Bitcoin coverage to start the new year, following the surge over the Christmas and New Year's holidays to a record near $35,000.
Crypto keeps on surging, ETH hits $US1,000 (04-Jan-2021 at 04:56:42 am)
Ether surging to highs over 1K, a parabolic type move in past hours: Earlier:
Uk press front page proclaims Bitcoin a "High Flyer" (04-Jan-2021 at 02:51:38 am)
Over the weekend BTC hit $34K (and beyond):