Bitcoin has moved sharply higher following reports that Blackrock, the world’s largest asset manager, is considering moving into the digital-currency market. The BTCUSD pair has now surged towards the $6,700 level and retains a strong intraday bullish bias while trading above the $6,400 level. Traders continue to watch the bullish inverted head and shoulders...
The British pound continues to move away from the 1.3290 level against the US dollar, as traders book profits ahead of the release of key Jobs and Wage data from the United Kingdom economy. The GBPUSD pair has recently failed to move price above the 1.3300 level, as ongoing Brexit concerns limit the upside in the British pound. Buyers will look to target the...
The euro currency continues to trade above the 1.1700 level against the US dollar, with bulls pressing against the key 1.1724 resistance level. Euro traders remain cautious ahead of Federal Reserve Chair Jerome Powell’s semi-annual testimony before US Congress later today. Buyers will look to advance well-beyond the 1.1724 level to keep the recent bullish...
Litecoin continues to trade to the downside, as the broader cryptocurrency remains pressured by bearish fundamentals developments and a lack of buying interest. Litecoin is likely to see the next strong directional move coming soon according to the MACD indicator. Buyers will aim to break above the LTCUSD pairs 50 period moving average on the four-hour time...
The British pound has regained bullish momentum against the US dollar, after US President Donald Trump’s speech with British Prime Minister Theresa May reaffirmed the two countries commitment to a future trade deal. The GBP/USD pair has now moved back above the key 1.3205 level and is currently testing the 200 period moving average on the four hour time...
The euro currency has once again recovered upside momentum against the US dollar, after the US dollar index failed to hold onto gains above the 95.00 level during the US trading session on Friday. The EURUSD pair is now trading above its 200 period moving average on the four hour timeframe, whilst the MACD indicator on the four hour timeframe is currently...
Ethereum is under heavy selling pressure on Friday, after earlier falling to a fresh monthly trading-low just above the key $400 support level. The sentiment surrounding the cryptocurrency market market remains fragile, following the latest hacking scandal involving cryptocurrency exchange Bancor. Sellers are increasingly likely to test the $395 support level,...
The British pound has fallen sharply lower against the US dollar, hitting 1.3169, after US President Trump warned British Prime Minister Theresa May that a soft Brexit plan would harm trade-relations between the US and the UK. The GBPUSD pair has now broke its established trading-range between the 1.3200 and 1.3300 levels and is turning bearish. Sellers will look...
The euro currency remains under pressure against the US dollar on Friday, following second consecutive bearish daily price-close beneath key technical support. The EURUSD pair has so far extended its decline towards the 1.1650 level and remains vulnerable to further losses. Sellers will look to target the 1.1600 level, while buyers will look to keep price above...
Looking to see the inverse correlation play out between the XAUUSD and the DXY. Sometimes its good to find correlated or inverse correlations with markets so you can express a trading idea on instruments not always available through your broker. Plus, the trading idea may play out quicker on one asset compared to another.
Bitcoin continue to trade to the downside on Thursday, with buyers still trying to prevent further heavy losses below the key $6,200 support level. The BTCUSD pair has come under constant pressure since being swiftly rejected from the $6,740 level. Sellers will now look to target the $5,700 region if they can hold price below the $6,200 level, while bulls will try...
The euro has fallen back towards critical weekly support against the greenback, after the EURUSD pair failed to hold onto its recent strong gains above the 1.1724 level. The EURUSD pair is now testing the 1.1674 level, which is a critical support area protecting further intraday losses towards the 1.1630 region. Sellers will look to hold price below the 1.1674...
The US dollar had moved to its highest trading level against the Japanese yen currency since January this year, as buyers finally breached the important former swing-high, at 111.39. The strong technical breakout has provoked a fresh wave of buying in the USDJPY pair, with price now trading above the 112.00 level. The bullish sentiment surrounding the pair is...
The US dollar is starting to turn lower against the Japanese yen currency after buyers failed to break above the key May monthly-high, at 111.39, on Tuesday. The USDJPY pair has now turned back towards the 110.80 support level, as intraday sellers test towards the top-end of the pairs previous trading-range. Buyers will look to reclaim the 111.00 handle, while...
The euro currency is trying to recover above key resistance against the US dollar on Wednesday, after the pair briefly fell below the 1.1700 level yesterday. The EURUSD pair has since moved back above the critical 1.1724 resistance level and found resistance from the 1.1750 region. Buyers will continue to try to move price back towards the 1.1791 resistance...
Ethereum, the second largest cryptocurrency by market capitalisation is back under selling pressure and has broken below the key $440 support level. The ETHUSD pair saw a rapid decline from the $475 level, as the broader cryptocurrency market tumbled lower on Tuesday. Sellers will now look to build on the recent move lower and test the $405 support level, while...
The US dollar has finally broken its recent short-term trading-range against the Japanese yen between the 110.25 and 110.80 levels, moving back above the key 111.00 resistance level. The USDJPY pair is being boosted by a return to risk-on trading sentiment and a strong move higher in global equity market prices. Buyers will look for further upside above the 111.40...
Litecoin, the sixth largest cryptocurrency by market capitalisation has come under fresh selling pressure and fallen towards the $76 level. Bearish pressure is likely to build on the LTCUSD pair while price trades below the $78.90 level, with the popular alternative-coin now shedding over thirteen percent of its value since hitting $88 last week. Sellers will...