Major indices close lower after late day rally fizzles out (28-Mar-2020    at   01:13:40 am)

Another big move in the last hour of trading The major indices are closing lower on the day after the late day rally fizzled out. Starting the last hour of trading, the major indices were trading at:

CFTC commitments of traders: EUR longs at the highest level since June 2018 (28-Mar-2020    at   12:42:27 am)

Forex futures positioning data for the week ending March 24, 2020 Highlights:Below is the EUR speculative position. The position has shifted from -114K during the week of February 25th straight up to the +61K this week.  

We're in the last hour of trading....Buckle up (28-Mar-2020    at   12:03:06 am)

The last hour has been a roller coaster ride of late.  Nevertheless, the volatility in the last hour of stock trading has been... well historic of late.  So buckle up.  The values at the top of the hour showed:

EURUSD continues the upside probe (27-Mar-2020    at   11:46:06 pm)

A close back above the 200 day MA at 1.1080 would be the first since March 16 For the month of March, the EURUSD peaked on March 9th at 1.14918. It spent the next 9 -10 trading days trending to the downside.  The low was reached on March 23 (on Monday). The last 5 days has

Dollar down vs all currencies with the exception of the CAD today. The greenback is the weakest this week (27-Mar-2020    at   10:44:22 pm)

It took a 50 BP cut by the BOC to win the weakest battle (for now at least) The USD was mixed at the start of the NY session with gains vs the NZD, CAD and EUR, and declines vs the JPY. The greenback was near unchanged versus the GBP, CHF and AUD.

European shares end the day on the downside (27-Mar-2020    at   09:48:23 pm)

German DAX -3.9%. France's CAC -4.5%. UK's FTSE 100 -5.5% The major European indices are ending the week and the day on the downside; The provisional closes are showing

Cable breaks 1.24 and nears the 61.8% retracement of the collapse (27-Mar-2020    at   09:29:54 pm)

Snap back rally continues This was a complete washout due to a funding strain, probably at UK banks. Now we're unwinding the move at an equal pace.

EURUSD runs back toward the day highs and the 200 day MA (27-Mar-2020    at   09:12:54 pm)

The low at 1.09507 held support The EURUSD started the NY session on a downward trajectory. They had the upper hand. However, the targets at the broken 38.2% and swing low at 1.09507 were downside targets. The price action stalled just ahead of the 1.09507 level, and dollar selling has led to a run back higher. 

GBPUSD looks toward a topside trend line at 1.2395 (27-Mar-2020    at   08:53:53 pm)

GBPUSD run higher continues The GBPUSD moved above the 50% retracement and is running toward the topside trend line at 1.23953. The high just reached 1.2386.

USDCHF is the next currency to move to new session lows today. (27-Mar-2020    at   08:43:08 pm)

USDCHF trades at the lowest level since March 18 The USDCHF is the next currency to extend to a new extreme against the US dollar (to the downside) following moves by the GBPUSD and USDJPY. 

GBPUSD making new session highs. Above the 50% retracement (27-Mar-2020    at   08:20:47 pm)

50% of the March trading range busted The GBPUSD is trading below the 50% retracement of the move down from the March 9 high (the March trading range). That level comes in at 1.2304. The high from earlier the day reach that level and backed off. The 2nd look is breaking above the resistance level.  

USDJPY cracks the 200 day MA (27-Mar-2020    at   07:55:01 pm)

The 200 day is now resistance The USDJPY has cracked below the 200 day MA at 108.29. It also fell back below the 38.2% of the March move higher at 108.407.  Those levels are now short term risk levels for the shorts now. Stay below and the sellers are in control.  

Watch the 100 hour MA in the S&P today (27-Mar-2020    at   07:17:41 pm)

The 100 hour MA comes in at 2526.95. It is Friday. It is month/quarter end. There is expectation that there may be quarter end rebalancing to the buy side.  However, let me repeat, it is Friday with the coronavirus risks high over the weekend as Italy, Spain, US, New York City  in the news spotlight, with markets closed.

AUDUSD peaks and rolls over (27-Mar-2020    at   07:00:01 pm)

Trades to new session lows in the New York session On the downside, there is support near the 0.5973 to 0.59845 area. That is home to swing levels going back to March 19, March 20, March 24 and March 25. Yesterday the price extended above that level on its way to the high today.

US major indices open the day lower (27-Mar-2020    at   06:31:21 pm)

It's Friday. It's the end of the quarter. Coronavirus fears dominate A snapshot of the major indices near the open are showing: in other markets: in the US debt market yields are lower with the yield curve flattening:

The USDJPY ping pongs between the 100 and 200 day MAs. Waiting for a shove. (27-Mar-2020    at   06:19:48 pm)

100 day MA above and 200 day MA below The USDJPY is trading lower in sympathy with lower stocks, lower rates today (at least that is the reaction today). Yesterday, stocks were higher and rates were marginally lower and the USDJPY moved lower. So there is some uncertainty with the correlation between rates and stocks and

USDCAD trades to a new session high after emergency rate cut (27-Mar-2020    at   06:11:22 pm)

The 1.4150-63 is being tested after emergency rate cut The Bank of Canada had a another emergency rate cut of 50 basis points that has taken their target rate to 0.25%.

EURUSD stalls at 200 day MA today and rotates lower shifting the bias back to the sellers (27-Mar-2020    at   05:35:44 pm)

100/200 day MA and 50% retracement area found sellers The EURUSD moved higher in early trading and in the process found sellers near the 200 day MA at 1.10798. The high did peek above that level to a high of 1.1086 - 7 pips above the key MA - but in this time, that is close

The JPY is the strongest and the NZD is the weakest as NA traders enter (27-Mar-2020    at   05:14:26 pm)

The USD is mixed As the markets digest the recent news that UK PM Johnson has tested positive for the coronavirus, the JPY is the strongest and the NZD is the weakest in the morning snapshot. The GBP is mixed as is the USD in early North American trading.  Stocks are set to open lower breaking

Pound falls after news of UK PM Johnson testing positive for the coronavirus (27-Mar-2020    at   04:35:30 pm)

An interesting reaction ForexLive The pound actually fell on the back of the headline, with cable dropping from 1.2290 to 1.2185 in under 15 minutes as traders scramble on what to make of the news.

USD/JPY keeps under 109.00 but stays above 200-day moving average for now (27-Mar-2020    at   02:54:35 pm)

USD/JPY is doing battle in between the key daily moving averages ForexLive The dollar is keeping mild gains against most major currencies still but it holding weaker against the yen in the session so far. EUR/USD is still settling around 1.1000 after a move down earlier while USD/JPY has moved up a little off lows of 108.24

Cable pares gains as dollar firms to start the session (27-Mar-2020    at   01:00:03 pm)

GBP/USD falls back towards the 1.2200 handle ForexLive The pound had an impressive showing in trading yesterday, as cable rose from 1.1800 to 1.2200 as the dollar continued to falter across the board.

EUR/USD falls to session low as dollar catches a bid (27-Mar-2020    at   12:38:02 pm)

The dollar turns things around to start the session ForexLive The greenback advances across the board as the dollar index pares losses on the day, with EUR/USD easing back towards the 1.1000 handle currently.

Gold keeps a little lower today but stays on course for a stellar week (27-Mar-2020    at   12:33:19 pm)

Gold is up by over 8% on the week ForexLive If you're wondering what is the main cause for the turnaround in gold this week, you don't have to look any further than the .

EUR/USD upside run tangles with key resistance levels (27-Mar-2020    at   10:11:39 am)

EUR/USD push higher now runs into a test of its key daily moving averages ForexLive The dollar continues to stay on the back foot today as the flows from dollar funding pressures continue to unwind on the week, following the Fed action on Monday.

Bitcoin finds no comfort in 'sell everything' market (16-Mar-2020    at   04:10:00 pm)

Bitcoin down by over 17% on the day ForexLive Bitcoin initially move higher to start the day after the Fed decision but quickly fell back towards $5,300 thereafter before making its way lower again in European trading.

Bitcoin collapsed lower today/this week, but bounces near a lower trend line (14-Mar-2020    at   12:14:11 am)

Lower trend line comes in at $3712. The price of bitcoin has collapsed lower in trading today to an intraday low of $3858. That was the lowest level since March 2019.  At the low the price also got close to a lower trendline connecting swing lows going back to 2019. That trend line cuts across at $3712.

Bitcoin collapse continues, under 5,000 USD (13-Mar-2020    at   05:05:23 am)

Cryptocurrency BTC was smashed lower since mid-week and its not over Currently  under 5K in extremely thin and volatile trade ForexLive

Cryptocurrencies see a quick plunge with Bitcoin briefly dipping under $6,000 (12-Mar-2020    at   03:56:26 pm)

First time that Bitcoin fell below $6,000 since May last year ForexLive More liquidation for cash? Or just your typical dump again in the crypto world? But whatever it is, the move is quite a big one relative to what is happening with all other financial assets over the past two weeks. Bitcoin plunged by over 20% while

No flight into the safety of bitcoin (09-Mar-2020    at   07:29:15 pm)

Down $500 Bonds have been a haven. Gold was for a while but now gold is down ($-5.60 or -0.37%).  The JPY and CHF has had the Pavlovian reaction of flow of funds (which may be questionable).  

SEC disapproves plan to list bitcoin ETF (27-Feb-2020    at   01:52:43 am)

ETF rejected It was already a tough day for bitcoin but news that the SEC has disapproved a plan to list a bitcoin ETF on NYSE ARCA is now breaking. Regulators cited concerns over Bitcoin manipulation.

Bitcoin tries to hold near 200 day MA support (27-Feb-2020    at   01:09:54 am)

Price moved below the MA today but rebounded. The price of bitcoin moved below its 200 day MA today at the 8779.84 level on the Coinbase exchange today. 

Bitcoin (on Coinbase) tests the 100 hour MA and bounces (14-Feb-2020    at   12:38:40 am)

Keep above the 100 hour MA, bull still in control. Move below and waters are muddy However the current price is down about $136 at $10,257.52. The good news for the bulls/buyers is that the dip came down to test its 100 hour moving average (blue line currently at $10119.95) and found buyers.  Risk is defined and limited at the

Bitcoin back above the $10K level (11-Feb-2020    at   11:01:40 pm)

Chair Powell talks about digital currencies in his testimony The price of bitcoin is currently up about $420 at $10,286.   The price high reached $10,400. That is the highest level since the October 26 swing high peak which took the price up to $10,540.49.  

Bitcoin may be usurped by Tesla for now, but still looking toward $10K (07-Feb-2020    at   09:27:27 pm)

Trades at the highest level since October 28. The price of bitcoin reached a high today of $9885 on the Coinbase exchange. That was the highest level since October 28 and just $115 away from the magical $10K.  The last time the price trade above 10,000 was on October 26 when the price spiked up to $10,544 rotating quickly back to down.

Japanese lawmakers call for BOJ to consider digital currency to counter China (07-Feb-2020    at   02:21:30 pm)

A statement made by a group of ruling party lawmakers in Japan today The statement says that this has to be done as a way to head off China's growing influence as a digitised yuan would further internationalise China's currency and destabilise a world order that has revolved around the US dollar, posing a risk for

Fed's Brainard says illicit activities using Bitcoin is a huge issue (06-Feb-2020    at   02:43:05 am)

Lael Brainard is a member of the Federal Reserve's Board of Governors and chairs the Committees on Financial Stability Speaking in California. In her Q&A now

Bitcoin runs higher after 8 days of up and down consolidation (06-Feb-2020    at   12:53:48 am)

Runs into a topside trend line The price of of bitcoin is running higher today. The price is up about $580 currently at $9713.65. The low today was down at $9126.76. The high reached $9769.70.  

Bitcoin (on Coinbase) extends further above its 200 day moving average (29-Jan-2020    at   08:23:10 pm)

Up $230 on the day The price of bitcoin (on Coinbase - 7 day week) has moved above its 200 day moving average over the last few days and is extending higher in trading today.

Singapore new legislation offers cryptocurrency firms a chance at licences to expand (28-Jan-2020    at   08:53:26 am)

This via Bloomberg earlier, on legislation in SG  - introducing new payments legislation, the Payment Services Act - that will offer global cryptocurrency firms a chance to expand their operations in the country - will regulate activities ranging from digital payments to trading of tokens such as Bitcoin Link for more 

Deutsche Bank say a new digital currency could become mainstream within the next 2 years (28-Jan-2020    at   07:35:29 am)

Deutsche Bank have been producing a series of reports on cryptocurrency. - In the first paper from the bank they assessed many existing cryptocurrencies, as being too volatile to be used as a viable means of payment or as a store of value

Japan finance minister Aso says the country has no plans to issue a digital currency (24-Jan-2020    at   06:33:38 am)

Aso says the fact that central banks are studying the idea is positive but Japan has no plans to issue a crypto From earlier this week: Speaking of ice cream:

ICYMI - BoE, BOJ, ECB, BOC, BIS to meet to discuss a central bank digital currency (CBDC) (22-Jan-2020    at   02:41:30 am)

A big get together to discuss a central bank cryptocurrency  - Bank of England  - Bank of Japan - European Central Bank - Riksbank - Bank of Canada They'll all be meeting, and "pool research and experiences " to develop a central bank digital currency (CBDC):

ECB, BOE, BOJ, SNB, BOC, Riksbank form group to share experience on digital currencies (21-Jan-2020    at   05:10:50 pm)

BOE says that the central banks involved are to assess potential cases for central bank digital currencies This seems like an interesting little project but I highly doubt we will see any concrete developments to actually move towards a digital currency at this stage. But it is definitely something to keep an eye out for in

Bitcoin trades to highest level since November 12 (15-Jan-2020    at   12:14:06 am)

The digital currency is up $625 on Coinbase The price of bitcoin is moving sharply higher. It is up $625 currently at $8755. The high price extended to $8859.17 today. The low reached $8101.  

Bitcoin moves above $8000 for the first times since November 21 (07-Jan-2020    at   11:34:55 pm)

Moves above 100 day MA on Coinbase at $7946.75 The price of bitcoin on Coinbase just moved above the $8000 level for the 1st time since November 21. The current price is trading at $8072. The high price just reached $8090 after cracking above the $8000 level.

Bitcoin moves rapidly above 7850USD (07-Jan-2020    at   05:19:25 am)

BTC is on the move higher, setting a fresh 30 day or so high  Seems related to the mark up in Tether, which moved hi9gher prior to BTC  BTC is also gaining from the move back into 'risk' as the market response to the US/Iran conflict winds back a little. 

Bitcoin consolidates gains after dip finds buyers (07-Jan-2020    at   12:38:59 am)

Trades to highest level since December 23rd The price of bitcoin on Coinbase, has moved to the highest level since December 23rd.  The high price reached up to $7615.68. The low for the day reached down to 7312.22. That low approached but really didn't test, the converged 100 and 200 hour MAs at $7262.  The price

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