Range-Bound Trading Ahead by Bogdan Giulvezan The EUR/USD pair settled just a few pips below the technical level at 1.1970, which has rejected climbing prices twice in the last few days. The pair is showing signs of indecision, as price action has slowed down and long-wicked candles have appeared. Last week’s softer than expected U.S. […]
Salvadorans, Rejoice. Free Bitcoin for All! by Bogdan Giulvezan As most of you probably know by now, a bill was recently passed in El Salvador, giving Bitcoin the status of legal tender in the country. The law will come into effect in September and all businesses will have to accept Bitcoin as a form of […]
Fed Signals Sooner-Than-Expected Tapering The US Dollar Index (DXY) gave back some gains on Monday and slipped to 92.115 from a 92.405 high reached Friday on the back of a surprise hawkish switch by the Fed. The dollar jumped almost 2.0% last week (which marks the biggest gain since March of 2020), as investors rushed […]
El Salvador Was First To Embrace Bitcoin by Bogdan Giulvezan Recently we’ve learned that El Salvador passed legislation that made Bitcoin legal tender in the country, which means that the flagship cryptocurrency will be accepted as a form of payment at all businesses, just like the US Dollar. News surfaced today that Carlitos Antonio Rejala […]
Fed Meeting Eyed for Next Direction by Bogdan Giulvezan Last week’s inflation data gave a surprising boost to the US Dollar, as Thursday’s report showed the CPI and the Core CPI had improved 0.6% (expected 0.4%) and 0.7% (expected 0.5%), respectively. As a result, the US Dollar posted the biggest weekly gain in about a […]
Bitcoin – Legal Tender in El Salvador! At the Bitcoin 2021 Conference that took place last weekend, El Salvador’s President Nayib Bukele announced in a pre-recorded video message that he would propose a bill aiming to make Bitcoin legal tender in El Salvador. Tuesday the bill passed with a vast majority (62 votes out of […]
U.S. Jobs Miss the Mark Again by Bogdan Giulvezan The dollar opened the week on the defensive, trading below the resistance at 1.2200 against the Euro. The weakness was mostly due to the disappointing jobs data that came out Friday, as the Non-Farm Payrolls report showed that only 559K new jobs were created during the […]
Bitcoin Falls $40K as Musk Fires Ambiguous Tweets By Bogdan Giulvezan Since Tesla kingpin Elon Musk expressed concerns regarding Bitcoin’s environmental impact, the flagship digital currency has been on a skid, losing more than 40% compared to April’s high at $64,800. Yesterday, Bitcoin managed to break the $39,000 barrier but wasn’t able to put any […]
Will NFP Fall in Line With Expectations or Are We in for Another Shock? by Bogdan Giulvezan To say that the US Dollar did not have a good May would be an understatement. It lost ground against most of its major counterparts but especially against the British Pound, as GBP/USD is currently trading at 1.4180, […]
Where Are the Cryptobulls Bulls? The flagship cryptocurrency recovered from $30,000 lows but recent gains are now evaporating as $40,000 is proving too strong for the bulls to break. Currently, BTC is changing hands for 36,600 US Dollars per unit but that price may not be available for long and the pair seems prepped for […]