Bullish Divergence Points to EUR/USD Pullback, Economic Data May Shift Bias Last week’s laid-back economic calendar will make way this week for market-movers galore: from major corporate earnings to inflation data and the king of economic indicators, the NFP. We will most likely see some interesting moves that will set the tone for the next […]
Bulls Battle Resistance: The Significance of Bitcoin’s $69K Rejection Many indicators can signal Bitcoin’s movement, but whale activity has proven one of the most reliable throughout the years. Following Bitcoin’s recent breakout, the whales have started to accumulate more coins, potentially signaling that an even stronger move will follow. According to data from on-chain market […]
Double Top at 1.1200 Pushes EUR/USD Lower, Support at 1.0800 Targeted Last week’s price action was mainly driven by the European Central Bank’s decision to cut the rate from 3.65% to 3.40%. This was not a surprise at all but the prospect of further rate cuts will probably continue to push the price lower. The […]
Bitcoin ETFs Lead The Charge – The Descending Channel is Obliterated It finally happened: Bitcoin broke the descending channel that’s been trapping it since March. And it looks like this time it’s the real deal. After another false break in late September, the flagship cryptocurrency dipped as low as $59,000, but this week all the […]
EUR/USD Approaches Oversold, Eyes 1.1000 Resistance after Rejection at 1.0900 Inflation in the U.S. came in slightly hotter than expected, as shown by the Core Consumer Price Index (CPI) released last week, which rose by 0.3% while the forecast was 0.2%. However, this is still in line with last month’s data, which was also 0.3%, […]
Price Faces Rejection at Key Levels, 50-Day MA Holds the Balance Uptober is really letting down its Bitcoin fans thus far: it started with a significant drop of about $3,000. However, all the losses of the month were erased by October 7, bumping up hopes of a recovery. Yet, those hopes were short-lived and the […]
EUR/USD Breaks Down After Double Top at 1.1200 The US Dollar is riding high on the back of better-than-expected jobs data released last Friday. All three job indicators exceeded expectations, showing that the inflation war is close to being over without an economic recession. The NFP showed that 254K new jobs were created during the […]
Bull Trap Bonanza – The Descending Channel Is at It Again. Historically, October is the best month of the year for Bitcoin but this particular October hasn’t started with the best foot forward. We just experienced another false break of the descending channel and the bulls continue to get caught off guard as they did […]
Double Top at 1.1200 and RSI Divergence Suggest Bearish Pressure for EUR/USD. The dollar closed the week lower after the Personal Consumption Expenditure (PCE) price index posted softer-than-expected numbers. This shows that the Fed’s decision to apply a super-sized cut was not premature. The PCE increased by 0.1%, lower than the forecast (0.2%) and lower […]
Is Bitcoin Finally Free of the Descending Channel? Where to Next? On September 26, spot Bitcoin Exchange Traded Funds (ETF) have seen the largest inflow since July 22nd. This happened just as Bitcoin broke through the $65,000 barrier and possibly managed to finally break free of the descending channel. On September 26, Bitcoin had a […]