Even though the markets show a high level of uncertainty, the charts still show that technicals are still very good drivers to indicate where price is turning to next. After the 2019 rally of gold, bears get their selling opportunity. Price is trading toward the downside to find support somewhere around 1434.26 or possibly, 1132.82
Temporary short until price can...
There is a major bearish trend line forming with resistance near $180 on the 4-hours chart of ETH/USD (data feed via Kraken). There could be a short term upside correction, but upsides are likely to be capped near $180.
I’m looking to see price trade below 160 before creating new highs, or even showing any bear-ish momentum.
Indices get their rebound with stimulus from the Fed assuring consumers who are led to believe there's a recession arising to not be alarmed. U.S markets trade with great volume, and the reserve currencies gets its' dosage of steroids.
Gold, coming off a interesting key level here. Previous levels of resistance off the monthly chart. Federal Chairman speaks on lowering the alarms for a recessives period, this gives U.S markets strength and sends stocks for a rebound and the Dollar finds artificial strength. In correlation, precious metals become less appealing as a way to hedge inflation.
Price is consistently trading lower, even though a foundation is buying built around the XRapid payments system. Q1 and 2 of 2019, we've had nothing but great data that should've built confidence for Ripple. Despite positive news about MoneyGram and PNC Bank, price manages to sell off to the downside. After price manages re-test supply levels at...
Fears that Germany may fall into a recession causes concern and weighs heavy on the EUR. Germany’s Central Bank signals warnings that the country may slip into a recession, predicting lower GDP numbers in the coming quarters.
Germany depends on exports to China and The United States, which are currently in a bitter trade war. Also, weak global auto sales hurts...
Jerome Powell is expected to speak this week concerning the Treasury note yield curve. We’re looking to see an aggressive Fed to address the potential global recession, which means quantitative easing and another rate cut.
This is a bearish signal for a weak dollar, due to the Fed debasing the currency by increasing dollars in rotation. This could bring in a...
The Sterling Pound
The markets were optimistic regarding Germany’s Merkel agreement for the Irish backstop. The divorce with the EU, and Boris Johnson’s plan to meet with the Merkel will probably not accomplish any progress but headlines have moved Sterling a little higher.