Lack of U.S. data pressures the dollar, but euro momentum is fading near 1.1600 resistance. The U.S. government shutdown is officially the longest in history, and now two jobs reports have fallen victim to it. The latest Non-Farm Payrolls report was supposed to come out last Friday, but the release was scrapped. The main gauge […]
Crucial Battle at $100K as RSI Approaches Oversold and ‘Buy-The-Dip’ Opportunities Arise Bitcoin fell below the historic $100K threshold for the first time since June, but ‘smart money’ saw this as a great opportunity to buy the dip. The price recovered from a low of $98,900 to $104,500, and the main driver seems to be […]
Low momentum keeps EUR/USD boxed between 1.1400 and 1.1700 The US Dollar received a boost from Fed Chair Powell last week, after he dampened expectations of another rate cut in December. He mentioned that a rate cut is “is not a foregone conclusion” and the opinion was shared by other members of the FOMC. Powell’s […]
Bitcoin Tumbles Towards Support. ‘Buy the Dip’ Opportunity? On Thursday, U.S. President Donald Trump and Chinese leader Xi Jinping had a productive meeting in South Korea, which effectively puts the trade war on ice. According to President Trump, it was “an amazing meeting,” and from here on out, trade between the two countries will increase. […]
EUR/USD Stuck in a Range Ahead of Fed Announcement U.S. inflation cooled down in September, according to the data that came out last week, albeit delayed due to the government shutdown. The CPI and Core CPI showed 0.3% and 0.2% increases, while the forecast saw them at 0.4% and 0.3%, respectively. This puts the Fed […]
Bitcoin Exits the Parallel Channel. Uptrend Prone to Short-Term Risks. On Tuesday, October 21, Gold recorded its steepest one-day drop in over 12 years. The same day proved prolific for spot Bitcoin ETFs, with over $477 million in inflows. Ethereum ETFs added $141 million, which is a clear indication that money is moving into riskier […]
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, […]