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EUR/USD Mid-Session Technical Analysis for October 30, 2014

October 31, 2014
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EUR/USD Mid-Session Technical Analysis for October 30, 2014

Daily EUR/USD Technical Analysis Daily EUR/USD The main trend turned down on the daily chart when the EUR/USD broke through the swing bottom at 1.2613. The new main top is 1.2770. A trade through this level will turn the main trend to up on the daily chart. The main range is 1.2500 to 1.2886. The pivot formed by this range is 1.2693. This price is controlling the short-term direction of the market. Look for a downside bias as long as the market continues to trade under the pivot. Additional resistance is on a downtrending angle from the 1.2994 top at 1.2674. The primary downside target is the recent main bottom at 1.2500. Traders may lean toward this price today,...

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Crude Oil Continues to Consolidate

October 31, 2014
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Crude Oil Continues to Consolidate

December Crude Oil futures are trading lower today after the market failed to follow-through to the upside, following yesterday’s higher close. Yesterday, the U.S. Energy Information Administration reported in its weekly petroleum status report that U.S. commercial crude inventories increased by 2.1 million barrels last week, maintaining a total U.S. commercial crude inventory to 379.7 million barrels. This puts crude oil inventory near the top of the five-year range for this time of the year. The 2.1 million barrel...

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KCG Looking for Buyers for HotSpot Platform

October 31, 2014
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Trading firm KCG Holdings Inc plans to raise more than $300 million from the sale of its FX unit, according to sources privy to the matter. KCG is partnering with Jefferies Group LLC as it seeks potential buyers of its HotSpot platform. Such buyers include Intercontinental Exchange Inc, CME Group Inc., NASDAQ OMX Group Inc, London Stock Exchange and Deutsche Boerse AG. However, the search for potential buyers has been widened to include other securities companies, with first-round bids...

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EUR/USD Mid-Session Technical Analysis for October 28, 2014

October 28, 2014
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EUR/USD Mid-Session Technical Analysis for October 28, 2014

Daily EUR/USD Technical Analysis Daily EUR/USD Trading is light in the EUR/USD market this morning. Many traders are on the sidelines ahead of Wednesday’s U.S. Federal Reserve Monetary Policy Statement and Friday’s Euro Zone consumer inflation report. The main range is 1.2500 to 1.2886. The pivot created by this...

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Position-Squaring Ahead of Fed Statement Boosts Euro and British Pound

October 28, 2014
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Position-Squaring Ahead of Fed Statement Boosts Euro and British Pound

The Euro and British Pound posted modest gains versus the U.S. Dollar on Tuesday. Despite a much better than expected U.S. Consumer Confidence report, traders mostly remained on the sidelines ahead of tomorrow’s Federal Open Market Committee meeting and Friday’s Euro Zone consumer inflation data. Traders expect the Federal...

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OANDA in Partnership with MultiCharts as It Expands its Options

October 28, 2014
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Canadian retail FX firm OANDA has entered into a partnership with MultiCharts, a multi-asset trading platform, in order to expand the range of trading opportunities available to its clients. At the moment, the two firms are beta-testing an OANDA plug-in on MultiCharts. Anybody who wishes is eligible to take...

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AUD/USD Weekly Fundamental Analysis, October 27-31, 2014, Forecast

October 26, 2014
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AUD/USD Weekly Fundamental Analysis, October 27-31, 2014, Forecast

Weekly Analysis and Recommendation: The AUD/USD gained 31 points to reach 0.8792 after Chinese PMI numbers printed at forecast.  The Reserve Bank will now be mulling over its forecasts for the November statement on monetary policy which will be released on November 7.  Despite some significant changes in markets and likely...

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EUR/JPY Weekly Fundamental Analysis, October 27-31, 2014, Forecast

October 26, 2014
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EUR/JPY Weekly Fundamental Analysis, October 27-31, 2014, Forecast

Weekly Analysis and Recommendations: The EUR/JPY  closed the week on a positive note as traders moved away from the safety f the yen as sentiment shifted back to the positive side. This weekend’s ECB stress test is keeping euro traders alert. The pair is trading at 137.01. Data that...

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Do Markets Care About The ECB Stress Test Results?

October 26, 2014
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Do Markets Care About The ECB Stress Test Results?

Do Markets Care About The ECB Stress Test Results? There were two simultaneous stress tests conducted in the Eurozone with the outcomes announced on Sunday. There were really no surprises as the results were leaked late last week. Twenty four banks of 130 failed the European Banking Authority health...

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EUR/GBP Fundamental Analysis October 27, 2014 Forecast

October 24, 2014
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EUR/GBP Fundamental Analysis October 27, 2014 Forecast

Analysis and Recommendations: The EUR/GBP is flat today to trade at 0.7889 as both currencies traded on an up note but with little volume. There are several reasons why British growth might continue to slow into the end of the year, including the recent burst of financial market volatility and...

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EUR/USD Mid-Session Technical Analysis for October 24, 2014

October 24, 2014
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EUR/USD Mid-Session Technical Analysis for October 24, 2014

Daily EUR/USD Technical Analysis Daily EUR/USD The EUR/USD is trading in a tight and narrow range today. Based on this week’s price action, the market is likely to finish the week with a downside bias. The catalyst behind most of this week’s selling pressure has been talk of the...

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Gold Pressured by Bearish Fundamentals

October 24, 2014
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Gold Pressured by Bearish Fundamentals

December Comex Gold is seeing limited action on Friday, but trading slightly higher. The market is set to finish the week sharply lower after reaching a major 50% retracement level earlier in the week at $1255.60. The current chart formation suggests the market may return to at least $1219.40...

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EUR/GBP Fundamental Analysis October 23, 2014 Forecast

October 22, 2014
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EUR/GBP Fundamental Analysis October 23, 2014 Forecast

Analysis and Recommendations: The EUR/GBP added 28 points to trade at 0.7920 after the pound took a major tumble on minutes from the last Bank of England meeting. The euro remains weak on worries about upcoming plans from the ECB after rumor hit the air about the ECB buying corporate...

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GBP/USD Fundamental Analysis October 23, 2014 Forecast

October 22, 2014
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GBP/USD Fundamental Analysis October 23, 2014 Forecast

GBP/USD Fundamental Analysis October 23, 2014 Forecast Analysis and Recommendations: The GBP/USD tumbled after the release of minutes from the MPC’s last meeting. The pound fell 90 points to trade at 1.6024. Sterling fell sharply against the dollar on Wednesday morning with the minutes from Bank of England’s (BoE)...

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BOE Minutes Show Policymaker Concerns about Weakening Global Economy

October 22, 2014
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BOE Minutes Show Policymaker Concerns about Weakening Global Economy

The GBP/USD sold-off sharply after the release of the latest minutes of the Bank of England. The minutes showed BOE members saw greater risks to the U.K. from a slump in the Euro Zone economy, damping investor bets on an increase in interest rates. According to the minutes, two...

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GBP/USD Fundamental Analysis October 21, 2014 Forecast

October 20, 2014
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GBP/USD Fundamental Analysis October 21, 2014 Forecast

Analysis and Recommendations: The GBP/USD gained 30 points to trade at 1.6123 after Rightmove House Price indexes climbed. The US dollar remains flat ahead of the day’s data releases. The pound gained just over 0.1 percent against the dollar. Bank of England chief economist Andrew Haldane said financial markets...

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Bitcoin Breaks the $380 Support. More Declines Ahead?

October 20, 2014
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Bitcoin Breaks the $380 Support. More Declines Ahead?

Large selling pressures across multiple exchanges have pushed the Bitcoin price below the first daily support level at $385.39 today. The origin and intentions of these co-ordinated sell orders are unknown and could be an attempt to pre-empt a move downwards. The second daily support level at $382.21 is...

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Crude Oil Not Expected to Get Help from OPEC

October 20, 2014
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Crude Oil Not Expected to Get Help from OPEC

December crude oil futures are trading flat at the start of the week. Last week, the market sank to multi-month lows amid concerns over a weakening global economy and its impact of future demand. Value-seekers did jump in when the market reached $79.10, but after the initial thrust, there...

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USD/CAD Weekly Fundamental Analysis, October 20-24, 2014 Forecast

October 18, 2014
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USD/CAD Weekly Fundamental Analysis, October 20-24, 2014 Forecast

Weekly Analysis and Recommendation:  The USD/CAD closed the week at 1.1276 after soaring above the 1.13 level as oil tumbled to new lows but recovered at the end of the week. The US dollar also reversed course midweek after hitting monthly highs and then falling only to recover late...

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EUR/GBP Weekly Fundamental Analysis, October 20-24, 2014 Forecast

October 18, 2014
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EUR/GBP Weekly Fundamental Analysis, October 20-24, 2014 Forecast

Weekly Analysis and Recommendations The EUR/GBP closed the week at 0.7929 holding within its trading range just under the 80 level.  Europe’s eventual recovery, like that of the US, may depend on an asset-buying program similar to the Fed’s by the European Central Bank. ECB president Mario Draghi famously...

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