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 […]
EUR/USD in Range Mode. Can the Bulls Renew the Uptrend? Last week, the greenback weakened across the board after the annual inflation numbers met expectations, and the monthly CPI edged higher, increasing by 0.4% (forecast 0.3%). Inflation is not accelerating at an alarming pace, but the yearly CPI sits at 2.9%, which is almost a […]
Bitcoin Bounces Inside Parallel Channel. New ATH Next? Bitcoin managed to reclaim the barrier at $112K earlier this week, after Wednesday’s Producer Price Index (PPI) release, which surprisingly fell below expectations. Last month’s PPI was a catalyst for volatility as well but it surprised to the upside, diminishing the chances of a rate cut by […]
EUR/USD Bulls Rejoice over Multiple Rate Cut Prospects Friday’s Non-Farm Payrolls (NFP) report stunned traders, showing that fewer than expected jobs were created during the previous month, and fuelling rate cut speculation. Only 22K jobs were created, while the anticipated number was 75K, and the previous was 79K. According to the CME FedWatch tool, a […]
Bitcoin Treads Water Ahead of Crucial NFP Release Bitcoin is starting to attract some love from investors, signaling that sentiment is turning positive after a series of outflows from spot Bitcoin ETFs. In last week’s post, we talked about a shift from BTC Exchange Traded Funds (ETFs) to Ethereum ETFs and how the latter brought […]
EUR/USD Tests Key Trend Line and Horizontal Barrier at 1.1700 The Core PCE Price Index rose 0.3%, in line with expectations, which initially sent the dollar higher, but the gains were later erased, setting the dollar up for a monthly loss. The markets are now pricing in a rate cut in September, with an 87% […]