EUR/USD Bounces at Support, Challenges 15-Month High The prospect of a super-sized rate cut by the Fed has weakened the US Dollar overall and sent it to a 9-month low against the Yen. The US Dollar Index (DXY), which measures the greenback’s performance against a basket of major currencies has dropped to 100.86, down from […]
Bitcoin Regains Control of $57K – Top of the Channel Next? Bitcoin holders have been making waves, moving an impressive $750 million worth of the cryptocurrency out of exchanges in a single day. This marks the largest Bitcoin exodus since May, leaving exchanges with noticeably lighter digital wallets. What’s driving this trend? Bitcoin’s recent performance […]
Dollar Bulls Target Key Support Levels Ahead of CPI and ECB Events. The U.S. jobs market is starting to cool down, as evidenced by last week’s Non-Farm Payrolls report but despite this, the U.S. economy as a whole is still going strong. The NFP report showed that 142K new jobs were created, which is lower […]
False Breaks and Low Volatility: How Can Bitcoin Regain Its Shine? It looks like the apex cryptocurrency is at a crossroads, having spent multiple days on the support at $57,000. But this also means that it is getting ready for a strong move to either side. What could be the catalyst for such a move? […]
EUR/USD Bulls Take a Breather; Key Support at 1.1000 in Focus The dollar made significant gains last week, bolstered by the PCE Price Index which came out in line with expectations, showing that the inflation threat is steadily going away. A consumer spending report released Friday added to the positive sentiment, showing that people are […]
The Descending Channel Does Its Job Again. But for How Long? Former President Trump is doubling down on his promise to make the U.S. the crypto capital of the planet. This comes after cozying up to cryptocurrency during a conference in Nashville roughly a month ago. At that time he first mentioned his plans to […]
EUR/USD Skyrockets, Breaks 1.1200 for the First Time in 2024 The greenback fell against most of its counterparts after Fed Chair Powell green-lighted the rate cut, indicating that it will be done at the September meeting. The USD is trading at levels last seen in July 2023 against the Euro and at levels last seen […]
BTC/USD Faces Major Hurdle. Is the Bullish Pressure Enough? Bitcoin miners are hoarding coins like squirrels before winter! According to CryptoQuant, miner reserves on over-the-counter (OTC) desks have skyrocketed to almost 368,000 BTC, worth a whopping $22 billion. This is a 70% surge in reserves over the past three months and it marks the […]
EUR/USD Closes Above 1.1000 for the First Time in 2024. Pullbacks Next? U.S. inflation is on the right path as shown by last week’s CPI report that posted a reading of 2.9% year-on-year, lower than the anticipated 3.0%. However, the monthly figures accelerated from 0.1% to 0.2% for the Core version and from -0.1% to […]
Bitcoin Faces Resistance at the 50-Day MA: Do the Bulls Have Enough Oomph to Break It? The Fed is very likely to trim the rates in September and that’s no secret or surprise. However, they might be cutting less than some market participants are hoping for. There’s a growing concern that the market might be […]