EUR/USD in Limbo. Inflation Data to Provide Some Clarity The US Dollar is feeling the effects of the government shutdown that choked the economic data stream, leaving the market in the dark. Some pundits see the shutdown extending into November, and if the forecast becomes reality, this will become the longest government shutdown. In 2018, […]
Key Support Lost. Regaining $112K Is Crucial For Bitcoin The crypto market is still recovering from the flash crash seen last Friday, and it looks like the bears are in control of short-term price action. The sentiment improved earlier in the week when Fed Chair Jerome Powell offered strong clues that the central bank will […]
EUR/USD: Two Weak Hands Battling It Out. Choppiness Ahead? The trade war took center stage again last week after President Trump reignited tariff woes by threatening new 100% levies on China. The President also said he will likely cancel a planned meeting with China’s President Xi Jinping after China revealed plans to expand its control […]
RSI Signals Correction Incoming. $120K Next? Bitcoin was pushing into uncharted territory, having traded as high as $126,270 on Monday, October 6; with this new ATH in place, many pundits see $130K as the possible target. However, downside risks are starting to emerge. The main catalyst behind this rally is institutional buying, mainly ETH activity, […]
EUR/USD Moves Sideways. U.S. Data Eyed for Next Move To the disappointment of many, the release of the Non-Farm Payrolls (NFP) report was delayed last week due to the U.S. government’s partial shutdown. The release is crucial for gauging the situation of the labor market in the U.S. and plays a key role in the […]
Bitcoin Faces Resistance Cluster. Are the Bulls Committed Enough? Historically, the month of October is kind to Bitcoin and the crypto market in general, hence the nickname “UPtober”. And it looks like this October lives up to its nickname, at least thus far, albeit we are still in its early days. On Thursday, October 2, […]
EUR/USD at Crossroads – 1.700 Break In Question Last week’s story was inflation, and this week is all about jobs, with the Non-Farm Payrolls (NFP) report just around the corner. The U.S. Core PCE Price Index rose 0.2% month over month, as expected. The yearly figure also matched consensus, rising 2.9% and keeping the narrative […]
BTC/USD Bears Take Control After $116K Rejection Bitcoin lost roughly 6.50% of its value over the last 7 days, following a rate cut by the Fed and increased distribution by the whales. Although the rate cut was perceived as bullish for crypto at first, the effect was short-lived and was followed by heavy selling. According […]
RSI Flashes Bearish Divergence: EUR/USD Going Downhill? In a move that was largely anticipated by market participants, the Fed decided to cut the interest rate by 25 bps last week. The US Dollar Index (DXY), which tracks the dollar’s performance against a basket of 6 major currencies, dropped initially from 97 to 96.22. Soon after […]
Bitcoin Trades Above Crucial Level. Flipping It Into Support Means New ATH Incoming The Fed decided to cut the interest rate by 25 bps on Wednesday, but the market already knew that, and Bitcoin dropped slightly immediately after the release. It was probably a case of “buy the rumor, sell the news”, when markets move […]