BTC consolidates below $82K after an overbought RSI signaled rising pullback risk. After the massive mid-August breakout, Bitcoin bulls packed their bags, the price started to drift lower, and now a new question emerges: Was that all? Probably not, but the next direction will likely be decided by macroeconomic catalysts. Fed Chair Kevin Warsh sent […]
EUR/USD pulls back toward the 100-day MA after rejection at 1.1700 resistance. The dollar received a solid boost last week after Fed Chair Warsh’s speech at the Jackson Hole Symposium, where he suggested that inflation is too high. On Friday, the day of the speech, the dollar gained almost 100 pips against the euro as […]
BTC struggles below $82K as overbought RSI raises the odds of a correction. After the massive rally started on August 17, Bitcoin pierced the $80K level several times, but the bulls failed to break the level decisively. It looks like the initial surge is taking a breather, and maybe it’s time for a pullback if […]
EUR/USD challenges 1.1700 as overbought RSI points to pullback risk The Federal Open Market Committee (FOMC) Meeting Minutes landed on Wednesday last week and revealed a slightly hawkish Fed stance. This was to be expected considering that three of the FOMC members voted to hike the rate by 25 basis points. The Minutes revealed that […]
BTC confirms a bullish breakout after clearing the long-term trend line and 200-day MA. On Wednesday, Bitcoin came just a few dollars short of $70,000, and the market saw $3.34 billion worth of liquidations, out of which $3.07 billion were shorts. On Thursday, it breached the $73,000 level, and on early Friday, it moved past […]
EUR/USD holds above the bearish trend line as bulls target 1.1600 resistance. The US Dollar weakened throughout last week after a series of disappointing economic releases that included inflation data and retail sales. The US Consumer Price Index (CPI) was in line with expectations, but the Producer Price Index (PPI) missed the forecast. Sales made […]
BTC tests trend-line support near the 50 MA, risks falling to $58K Bitcoin slipped to the $63K level after the US Consumer Price Index (CPI) matched analysts’ expectations on Wednesday. The fact that inflation is not swelling should be a tailwind for Bitcoin and other cryptocurrencies because the Fed is likely to postpone a rate […]
EUR/USD tests a key resistance cluster, with a trend-line break potentially triggering further gains. The US economy shed 23,000 jobs in July, according to the latest Non-Farm Payrolls (NFP) report, making a stronger case for the Fed to hold rates. Analysts had predicted that the US would add 85,000 jobs, so the surprise was that […]
Bitcoin remains below a long-term bearish trend line, while $65K continues to cap upside momentum. Bitcoin spot exchange-traded funds (ETFs) kicked off the month of August with a 3-day streak of inflows, totaling over $625 million, according to data from Coinglass. We are seeing a modest Bitcoin rally, but major resistance is still overhead, and the […]
EUR/USD eyes a breakout above a long-term bearish trend line after failed break of 1.1400 The US Dollar suffered its biggest weekly decline in three months after the Federal Reserve maintained the interest rate steady, as it was largely anticipated. Inflation is still well above the 2.0% target, and some investors are beginning to wonder […]