EUR/USD breaks below 1.1500 after losing support at 1.1600 The dollar got a boost last week after the Federal Reserve raised interest rates by 25 basis points, bringing the target range to 3.75%–4.00%. The decision was unanimous and mostly triggered by the strong jobs report and hotter inflation figures released earlier. The Fed pointed to […]
BTC holds above $75K while the rising 50-day MA points to improving momentum The Clarity Act failed in the Senate on Tuesday, after a 49 – 50 vote, which showed that even some Republicans voted against it. The bill needed 60 votes to invoke cloture, which would have brought the debate to an end. Ethics […]
EUR/USD compresses near 1.1600 after testing support. The US Dollar Index (DXY) jumped after the release of the US Consumer Price Index (CPI), but erased all gains and ended last week almost where it started. The DXY measures the dollar’s performance against a basket of six other peers and is heavily affected by the US […]
BTC forms a double top at $82,000 as ETF outflows add to selling pressure. Bitcoin is facing renewed sell pressure after another failed attempt to surpass $82,000, with dwindling ETF activity and pessimism surrounding the Clarity Act. Several US Senators have expressed their concerns regarding the Clarity bill, saying they do not expect it to […]
EUR/USD holds above 1.1600 after repeated bounces from the 100-day MA The dollar got a massive boost on Friday from a stellar jobs report, which massively surpassed market expectations by showing that 162K new jobs were created during the previous month. The forecast was just 55K, but the actual number sent the probability of a […]
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 […]