Major indices give up early gains on coronavirus fear (25-Jan-2020    at   02:07:27 am)

Nasdaq snaps 7 week win streak.   The major indices give up early gains on coronavirus concerns and are ending the day lower.  For the week, the NASDAQ index snapped a 7 week winning streak and is ending down on the week. The Dow is in the midst of a four-day losing streak.  

Crude oil futures settle at $54.19. A sharp moved lower this week. (25-Jan-2020    at   01:16:24 am)

Down $1.40 or -2.52% The price of crude oil futures are settling at $54.19.  That is down $1.40 or -2.52%.  The low for the day reached $53.85, while the high extended to $55.95.

The S&P moves below the 100 hour MA. Can it stay below? (25-Jan-2020    at   12:54:16 am)

100 hour MA at 3286.67 The S&P moved below the 100 hour MA at 3286.67.  The price low has reached 3281.53. We currently trade at 3285.00. For the Nasdaq, the 100 hour MA comes in at 9252.20. The price is still above MA today.

Stock tumble accelerates (24-Jan-2020    at   10:24:38 pm)

Nasdaq leading the way lower The stock tumble has accelerated with the  looking at the hourly chart of the NASDAQ index below, the price dipped below the 50 hour moving average currently at 9348.794. That is the 1st dip below that moving average since December 6 (for only 1 bar at that time).  Stay below will keep the trading sellers

European shares rebound to end the week (24-Jan-2020    at   09:41:22 pm)

German Dax up 1.3%.  France's CAC, up 0.8%.  UK's FTSE 100, +1.1% The major European indices are ending the day higher.  For the week all but the German Dax fell.

GBPUSD falls to the 200 hour MA and finds some buyers (24-Jan-2020    at   09:19:21 pm)

Move below the 100 hour MA The GBPUSD corrected off dip buying against the 100 hour MA  up to 1.3106. The move back above the 1.3100 could not be sustained. The price moved back down (). 

AUDUSD trades to a new week low on coronavirus fear (24-Jan-2020    at   08:54:48 pm)

Running away from the 100 day MA The AUDUSD has turned to the downside as fears of the coronavirus is taking hold into the weekend.   In the process, the pair is moving away from its 100 day MA at 0.6839, and below the earlier lows for the week at 0.6827. Those levels are now risk/bias defining levels.

EURUSD back near session lows (24-Jan-2020    at   08:30:24 pm)

Looking toward the 1.100 and lows since November The EURUSD is trading back near session lows. The low for the day reached 1.10257. The price just traded to 1.10259. 

US stocks open with gains. Nasdaq makes a record high. (24-Jan-2020    at   07:34:02 pm)

S&P and Dow lagg Intel's earnings after the close yesterday beat expectations on the top and bottom line and the for guidance was also more positive. Intel shares are up $4 on the day or 6.4%In the US debt market, yields are ticking more to the downside:In other markets as stock trading gets underway:

The USDJPY rebounds up toward the December ceiling (24-Jan-2020    at   06:56:54 pm)

The dip to the 38.2% stalled the fall in the USDJPY Yesterday was a down day and the technicals defined the bias. The price fell below the December ceiling at the 109.675-723 area.  That was the first break below since the move above the area and January 13. The technical breaks sent the price below the January 10/January

GBPUSD reverses lower into support (24-Jan-2020    at   06:34:51 pm)

The gains after PMI are quickly reversed with buyers stalling the fall near the 100 hour MA The GBPUSD moved higher after the Markit PMI manufacturing index (P) for January rose to 49.8 from 47.5 last month. That was also better than the 48.8 in December.  However, the run higher ran into eager sellers at 1.3168. The swing high from January

The USD is the strongest while the GBP is the weakest as NA session begins (24-Jan-2020    at   06:14:26 pm)

The GBP whips around after PMI data The coronavirus remains a concern, and it is likely to be a hit to the Chinese economy but it is not running away as of yet:  

EUR/USD falls to lowest since 2 December as dollar keeps more firm on the session (24-Jan-2020    at   03:19:25 pm)

The greenback firms alongside the yen as bonds see a fresh bid ForexLive EUR/USD is falling below support around 1.1040 now as price hits a session low of 1.3032 - the lowest level since 2 December, more than seven weeks ago.

Cable falls below 1.31 as UK PMI data beat fails to inspire (24-Jan-2020    at   03:08:44 pm)

Cable falls to a session low of 1.3086 on the day ForexLive The pound is falling to its lowest levels on the day with cable slipping back below the 1.3100 handle currently - dollar bids also pushing the issue a bit.

Pound whipsaws as traders digest UK PMI data beat (24-Jan-2020    at   02:48:22 pm)

Cable jumped to near three-week highs of 1.3173 before retracing to 1.3125-40 ForexLive Pound traders are not looking too impressed by the UK PMI data beat earlier, as the currency is struggling to build further gains despite the better-than-expected release.

Pound keeps a little higher ahead of PMI data release (24-Jan-2020    at   02:24:41 pm)

Cable is at session highs close to 1.3150 A break above the recent swing highs above the 1.3150 will clear out some resistance for cable in searching for a move higher, but it is all about the PMI data for the pound now.

EUR/USD in a vulnerable spot ahead of PMI data later (24-Jan-2020    at   12:46:12 pm)

EUR/USD broke below the 100-day moving average and a trendline support after ECB Lagarde's press conference yesterday ForexLive To be fair to Lagarde, she kept her moniker as the owl during her press conference. However, the softer risk mood and the fact that there was no hawkish tilt despite recent data improvement saw the euro pull back

Gold still needs more to "break free" (24-Jan-2020    at   11:36:32 am)

Gold price action is still seen going nowhere towards the end of the week ForexLive Buyers are keeping some near-term momentum still after the attempt to break higher in overnight trading, but price action is still rather benign at this stage for gold.

Broader indices close higher in the US stock market today (24-Jan-2020    at   02:08:07 am)

The Dow lags The broader US indices (S&P and NASDAQ) are closing higher after recovering from earlier losses and fears from the coronavirus.  The Dow lagged with the indice down marginally.

NZDUSD back above the 100 hour MA (24-Jan-2020    at   01:40:29 am)

Floor established at 0.65803-832 The NZDUSD has consolidated in an up and down day again today. The low tested the low area over the last few days at 0.65803 to 0.65832. The low from last week also bottomed near that area at 0.65832. 

Crude oil futures settle at $55.59 (24-Jan-2020    at   12:56:09 am)

Down $1.15 or -2.03% The price of crude oil futures are settling the day at $55.59. That is a down $1.15 or-2.03%.  Since peaking at $58.82 and Tuesday, the price has tumbled -7.5% to the session low.

Broad indices back in the black and trades at session highs (24-Jan-2020    at   12:43:38 am)

S&P and Nasdaq higher on the day The World Health Organization did not declare an international virus alarm: that seems to have helped sentiment in the stock market.

USDCAD retraces some of the gains from yesterday (and all the gains from today). (23-Jan-2020    at   11:21:21 pm)

USDCAD dips below the 50% retracement at 1.31389. The USDCAD is retracing some of the gains from yesterday (more dovish BOC statement).  The retracement comes after the pair got close but could not get above the 100 day MA at 1.31786. Also near the level were swing highs at 1.3179 to 1.31843 and the  61.8% retracement at

The EURJPY tests key support on the daily (23-Jan-2020    at   10:54:24 pm)

200 hour MA and trend line support The EURJPY has run lower today with the move down in the EURUSD and the USDJPY.  The run to the downside move below the 200 day MA at 120.789 and tested the trend line at 120.636. The low reached 120.63 and the price has bounce higher.   Moving back below

The S&P index tests the 50 hour MA (23-Jan-2020    at   09:31:15 pm)

The 50 hour MA and an gap is being tested see post from yesterday here Today, the price opened lower (see hourly chart above) and moved lower. In the process, the price fell below the 50 hour MA (white MA line) but did stall the fall between a gap from December 15 and December 16. That gap

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

Bitcoin off to a weak start in 2020 (02-Jan-2020    at   11:49:11 pm)

Bitcoin on Coinbase is down $-265 and back down below $7000 The price of bitcoin is off to a weak start in 2020. The price on Coinbase is trading down $265 at $6951.83.  The hi reached $7217. The low reached $6903.  

Bitcoin higher on the day but runs into MA resistance (19-Dec-2019    at   12:06:56 am)

The 100 hour MA stalls the rally. Sellers lean on the test. The price of bitcoin fell below a lower trend line and in the process moved to the lowest level since May 11, 2019. The low from November at $6526 was taken out in the process. The low for the day reached $6430 (see the daily chart below)

Bitcoin is down again today, but the low did stall against a lower channel trendline. It gives the buyers some hope (18-Dec-2019    at   12:27:52 am)

The lower trend line comes in at $6601 currently. The price of bitcoin tumbled yesterday after finding sellers near the 100 hour MA (blue line) and a topside trend line (using Coinbase and a 7-day chart).  The holding of that ceiling at red circle 3, gave sellers to go ahead, and they took the price lower.

Bitcoin slumps below $7000 in crypto selloff (16-Dec-2019    at   11:49:21 pm)

Bitcoin under pressure Bitcoin has come under increasing pressure in the past few minutes in a quick fall to $6908 from $7100. The move hit over about five minutes and was likely technical. The December low of $7091 was broken

Lawyers for Quadriga customers ask to exhume founder Gerald Cotten’s body (14-Dec-2019    at   12:01:57 am)

The money is gone and the idea persists that he's still alive The law firm representing users of bankrupt cryptocurrency exchange QuadrigaCX is asking the Canadian police to exhume the body of the company's deceased founder, Gerald Cotten, and conduct an autopsy.

Three men charged over $722 million cryptocurrency fraud - a “high-tech Ponzi scheme” (11-Dec-2019    at   07:09:07 am)

Here's an interesting read on Bloomberg regarding BitClub Network, with 3 men charged with wire fraud offences while 2 remain to be apprehended. - Ran it from 2014 until this month The three have been charged with conspiracy to commit wire fraud  and conspiracy to sell unregistered securities

ICYMI: Leading South Korean crypto exchange UpBit confirms theft of 342,000 Ether (ETH) (29-Nov-2019    at   04:23:23 am)

Upbit is one of Korea's largest cryptocurrency exchanges, says around USD 49 million of ethereum was transferred from its ethereum wallet to an unknown wallet on Wednesday.

Bitcoin's sharp drop in price over the weekend (and continuing to today) is still about China (25-Nov-2019    at   08:59:56 am)

I posted earlier on the slide for the cryptocurrency here:  Weekend (and into Monday) bitcoin update (down date is a better description) The most recent decline started on news that the People's Bank of China told businesses involved with cryptocurrencies to correct any improper actions 

"Crypto queen" scammer steals 15bn GBP from the gullible (25-Nov-2019    at   08:46:16 am)

Ruja Ignatova said she had invented a cryptocurrency to rival Bitcoin, said it was a "Bitcoin killer"  - "In two years, nobody will speak about Bitcoin any more!"  Long story short, 4 months after beginning to sell One Coin her company thought, "

Weekend (and into Monday) bitcoin update (down date is a better description) (25-Nov-2019    at   07:03:48 am)

BTC was  a little weaker over the weekend and it adding to the losses now:  I haven't any specific news on it although I have seen some tech suggesting fractals or some other gibberish (Eamonn loses the fractals crowd). 

Bitcoin tumbles lower. Looks toward a test of the October low (21-Nov-2019    at   10:03:21 pm)

Current price is down about $500 on the day The price of bitcoin on the Coinbase exchange (7 day work week), is trading down around $500 at $7584.80. The low for the day reached $7374.50. The high extended up to $8114.97.

Bitcoin steps down a little more today (20-Nov-2019    at   12:17:10 am)

The price of Bitcoin stays below the 200 hour MA for the 13th consecutive day The price of Bitcoin on Coinbase exchange (7 day week) is moving lower again today. The snapshot price is down -$133.30 at $8083.08 (see hourly chart below).    Today, the price was able to trade to the lowest low since October

Bitcoin leads a sharp drop lower in cryptocurrencies (18-Nov-2019    at   11:50:25 pm)

Quick crypto slump Cryptocurrencies are under pressure with some falling close to 10% after Bitcoin broke below $8300. There isn't any news behind the drop but note that the 100-day moving average is falling below the 200-dma today, creating a death cross. They crossed over positively in May ahead of the run from $7000 to nearly

PBOC shoots down rumour of digital currency issuance (13-Nov-2019    at   12:42:16 pm)

This isn't the first time they have had to do this It is the same case here as they reiterate in a statement that the digital currency is still being tested and has not been issued. Adding that trading of digital products in the name of the PBOC are likely fraudulent.

Bitcoin's weekend run higher runs into resistance. Bears in control. (11-Nov-2019    at   10:37:36 pm)

The weekend high on Coinbase stalled at the 200 hour MA. Bears sold The price of bitcoin on Coinbase exchange, ran higher over the weekend but in the process ran into the 200 hour MA (green line). The inability to get and stay above that 200 hour moving average, gave sellers a reason to push lower and indeed they

RBNZ to meet next week: 64.3% chance of a cut (08-Nov-2019    at   02:24:43 pm)

RBNZ . The uptick in unemployment from 4.1% expected and 3.9% prior to 4.2% saw some weakness enter into the NZD. The weak reading saw an eventual move down towards 0.6350. The RBNZ meet next week and the probability of a rate cut is now at 64.3% (it was 54% prior to the unemployment data) and

PBOC official says commercial banks should step up blockchain application (28-Oct-2019    at   07:17:40 am)

PBOC official says commercial banks should step up blockchain application to embrace digital finance Headlines via Reuters  I'm not sure of this a fresh piece of commentary out of the  People's Bank of China 

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