Bitcoin Hovers at Recent Lows Amid Tax Related Selling

Bitcoin prices fell below $7,000 on Monday ahead of the looming April 17th U.S. tax-filing deadline. Analysts speculate that U.S. households likely owe billions of dollars in capital gains taxes for their cryptocurrency holdings and that investors are selling in order to meet their tax liabilities. Bitcoin prices have fallen more than 27% over the … Read more

CAD/CHF Bounces off 50% Retracement Level

The CAD/CHF cross reversed lower at the 50% retracement level of the recent downmove that began in January 2018. Stochastics are curved lower and poised to cross the 80 level, which would add to the bearish scenario for the pair. Price is trading under the 200 period simple moving average which lies close to the … Read more

EUR/USD Sits on Trendline Support Ahead of NFP

EUR/USD has drifted lower ahead of the US Employment Report, set to be released by the Bureau of Labor Statistics on Friday at 8:30AM ET. Looking at the weekly chart above we can see that price has fallen to a well defined long term uptrend line. Wednesday’s data from ADP and Moody’s Analytics showed that companies added … Read more

Cable Holds Above 1.40 After PMI Miss

UK Services PMI for March missed expectations, falling to 51.7 and marking the weakest rise for 20-months amid disruptions due to snow and bad weather. The Purchasing Managers’ Index (PMI) is a measure of the economic health of the manufacturing sector. After four days of gains, Cable (GBP/USD) slipped modestly in reaction to the news. Price … Read more

AUD/NZD Slides to Fresh 2018 Lows After RBA Leaves Rates Unchanged

AUD/NZD fell to its lowest levels since July of 2017 in early trading on Wednesday. After the Reserve Bank of Australian (RBA) left interest rates unchanged as expected on Tuesday, the Aussie lost ground to both the New Zealand and Canadian dollars. The New Zealand dollar was lifted on Tuesday as prices for whole milk powder (WMP), … Read more