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 …
AUD/USD
The Australian dollar initially fell during the course of the session on Friday, but turned around to form a hammer. The hammer of course is a very bullish sign, and a break above the top of the hammer of course means that the market will probably try to reach towards the top of the consolidation area again. We look at this chart, it’s not too difficult to notice that there is a general uptrend and it now appears that we are trying to reach towards the 0.7750 level above, which is massively resi…
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…
AUD/USD
We have had a really huge sell off of both of the antipodean (Australian and New Zealand) Dollars since last Thursday, with the price easily breaking through support, confirming the area at 0.7723 as crucial resistance. The price has now just about returned to a basing area confluent with a very psychologically key round number at 0.7500 which will quite probably provide some kind of support, although it does not look as if there could be a meaningful rise right away. There probably would need t…
EUR/USD
The EUR/USD pair rose during the course of the week, slamming into the 1.1350 level. However, we turn right back around and form a bit of a shooting star so having said that it’s likely that the market will continue to be very volatile and choppy. We ended up doing just that, and as a result it looks like the market is going to continue to be very negative but in a very choppy manner. Truthfully, I don’t like this market at all currently.
S&P 500
The S&P 500 had a relatively negative day during the session on Thursday, but we are still essentially in the middle of the consolidation area that we’ve been trading in for 2 months now. I do believe that every time we pullback, the market looks at it as potential value and that we will eventually break out to the upside. I think a lot of this comes down to the lack of volume, as a lot of traders are still away at holiday. Ultimately, I believe that this market is probably going to reach toward…