Now that the indexes have broken out of the last major down channel (drawn in blue), the 200 day moving average (in purple) is the next major resistance. The S&P 500 has failed to hold above the 200 DMA three times since Oct 2018. Holding above the 200 DMA is the real test of being in a bull market or not--bull markets hold over the 200 DMA for extended periods...
The euro is starting to move higher against the US dollar in early Thursday trade, ahead of the release of key eurozone PMI manufacturing data later this morning. Weaker than expected PMI data from the French and German economies will likely reverse the EURUSD pairs recent recovery, with the 1.1335 level the key support level to watch. The 1.1410 level is the...
The British pound has surged to its highest trading level against the US dollar since November 2018, after bulls easily broke through the 1.3030 resistance barrier on Wednesday. The GBPUSD pair now trades above its 200-day moving average and faces a key challenge from the 1.3095 resistance level. If bulls can move price above the 1.3095 level, further upside...
Bitcoin is once again testing towards the $3,660 resistance level, after sellers failed to capitalize on the early week drop below the key $3,485 support level. The broader cryptocurrency market enjoyed a decent rally on Wednesday, although the BTCUSD pair added only marginal gains on the day. A break of the $3,300 to $3,960 price range is needed before the next...
