Litecoin is back under downside pressure beneath the $50.00 level on Tuesday after losing over five percent of its market value on Monday. LTCUSD buyers need to reclaim the $51.98 level to regain short-term bullish momentum, while sellers need to keep price below the psychological $50.00 level to ensure further losses. It is worth noting that the MACD indicator...
The British pound is starting to weaken against the US dollar after buyers failed to maintain price above the 1.3100 level. Brexit headlines and the US dollar continue to drive the GBPUSD pair, with eurozone negotiators latest bearish comments about the Chequers Brexit deal pushing sterling lower. Buyers need to move the pair above the 1.3100 level once again,...
The euro has started the new trading week under pressure against the greenback, following the heavy decline in the pair last Friday. The EURUSD pair remains short-term bullish while trading above the 1.1600 level with the inverted head and shoulders pattern still valid, despite the heavy technical rejection from the 1.1720 region. Sellers will attempt to break the...
Bitcoin is starting to lose bullish short-term momentum after last weeks upside recovery, with buyers continuing to struggle to break the key $6,550 level. The MACD indicator across the four-hour time frame is also starting to struggle to trend higher. Buyers need to break the $6,550 resistance level, while sellers will look to move price below the $6,400 support...
Ethereum has found strong buying interest as bullish MACD price divergence causes price to surge back above the $200.00 level. The ETHUSD pair has now recovered over thirty percent of its market value after finding support from the $155.00 level earlier this week. Buyers will look to target the $220.00 level, while sellers will attempt to push the ETHUSD pair back...
The euro currency has moved above the 1.1650 level against the US dollar after ECB President Mario Draghi struck a bullish tone towards future eurozone inflation. The EURUSD pair may create a bullish inverted head and shoulders pattern if buyers can push price towards the 1.1730 level. Sellers will need to edge price back below the 1.1600 level to change the...
The US dollar has moved to a fresh monthly trading high against the Japanese yen, as rising equity markets and improving risk-on trading sentiment prompts traders to sell the yen currency. The USDJPY pair remains intraday bullish while trading above the 111.75 level, and is further supported by a bullish inverted head and shoulders pattern across the four-hour...
The euro has started to move higher against the greenback after United States PPI inflation data came in much worse than expected on Wednesday. The recent bullish momentum in the EURUSD pair remains valid while price trades above the 1.1600 support level. Traders now turn their attention to the European Central Bank policy meeting later today, where ECB President...
Bitcoin continues to trade towards the lower end of its monthly range on Thursday, as short and medium-term sellers retain control of the number crypto. The BTCUSD pair failed to react to news that U.S. authorities are tightening cryptocurrency regulations, while many other popular cryptocurrencies such as Litecoin and Ethereum fell. Price is still expected to...
The US dollar has maintained recent bullish momentum against the Japanese yen currency, as news that the US and China may enter into a new round of trade talks has boosted risk-on trading sentiment. USDJPY buyers must now go on to break the 111.75 resistance level, while USDJPY sellers will attempt to push price below the 111.25 support level. Caution is advised...
The US dollar has moved towards the top end of its short-term trading range, as rising US bond and equity markets push the greenback higher. Asian stock markets have hit a fourteen- month trading low on Wednesday, causing the USDJPY pair to pause. USDJPY buyers will attempt to keep price above the 111.75 level to keep the recent bullish momentum alive, while...
The euro currency has come under heavy selling pressure against the US dollar after Tuesday rally higher was once again rejected from the 1.1650 resistance level. The EURUSD pair remains short-term bearish while trading below the 1.1600 support level. Sellers will attempt to break the 1.1528 support level, while buyers need a solid price close above the 1.1650...
Ethereum has fallen to its lowest level in nearly one year, as the technical breakdown continues below the $200.00 support level. The ETHUSD pair has lost over forty percent of its value in September, as sellers continue to target the second largest cryptocurrency. Price may soon rebound as the ETHUSD pair is creating bullish price divergence across the one and...
The euro has moved sharply higher against the US dollar after buyers failed to contain price below the neckline of a bearish head and shoulders pattern. The US dollar index has also weakened back towards the 95.00 level, prompting a technical correction in the EURUSD pair. Sellers need to bring price under the 1.1553 level once again, while buyers need to move the...
The British pound has moved sharply higher against the US dollar after EU Chief Negotiator Michel Barnier stated that a Brexit deal could be made within six to eight weeks. The GBP/USD pair has moved towards the 1.3040 level, forming a bullish inverted head and shoulders pattern. Caution is still warranted as the recent move higher has created bearish MACD price...
The LTCUSD pair is facing further heavy downside losses as the seventh largest cryptocurrency by market capitalization trades close to the neckline of a bearish head and shoulders pattern. The bearish price divergence on the MACD indicator has now corrected, causing the LTC/USD pair to lose over fifteen percent of its market value last week. Sellers will attempt...
Bitcoin has started the new trading week under pressure, as regulatory uncertainty continues to keep the number one cryptocurrency trading on the back foot. The BTCUSD pair may gravitate towards the wedge pattern bottom, after last weeks rejection from the topside trendline. Sellers will aim to break the $6,000 support level, while buyers will look to stabilize...
The euro is coming under selling pressure against the US dollar on Monday, after a stronger than expected US jobs figure and bearish weekly price close below the 1.1553 level. Sellers attention is once again focused on the head and shoulders pattern neckline around the 1.1530 level. Buyers will need to move price above the 1.1600 level to negate the short-term...