EUR/USD Moves Above Resistance, Dollar Slips on Rate Speculation. Friday’s jobs data was an interesting blend of higher-than-expected NFP with lower-than-expected Hourly Earnings, topped off with a disappointing Services PMI. As a result, the Dollar Index (DXY), which measures the greenback’s performance against 6 major currencies, weakened and rate hike expectations dropped. There is now […]
Crypto Winter Takes Its Toll: Behemoth Genesis Slashes Its Workforce. Since the FTX debacle back in November 2022, Bitcoin and a large part of the crypto market have been floating sideways like a ship without a helm in a windless sea. After printing a double bottom around $15,600, the apex cryptocurrency made a futile attempt […]
Euro Touches 7-Month High. Overextended Rally Prone to Pullbacks. Markets are still feeling the effects of the parties that marked the closing of 2022 and the grand opening of 2023 but volatility is right around the corner. The first trading week of the New Year has some very interesting events in store, which will likely […]
Low-Volume Trading as 2023 Knocks on the Door. On January 1st, 2022, Bitcoin was changing hands at $46,600 and now, with just 1 day left in the same year, you can own 1 full Bitcoin for just $16,500. Should this be treated as a ‘doomsday’ event, where we anticipate a total BTC apocalypse? Or an […]
False Breaks Thrive in Low Liquidity. Beware! As the final trading week of 2022 begins, it looks like many traders have already switched off their PCs and switched on their Winter Holidays mode. The market is sluggish and even EUR/USD, which is the world’s most liquid currency pair, has been trapped in a narrow congestion […]
Sluggish Price Action – Holiday-Triggered Low Volatility or the Calm Before the Storm? Bitcoin is officially a payment method in Brazil after President Jair Bolsonaro ratified Thursday a bill that establishes the regulatory framework for trading and using BTC. The bill became law with the President’s signature and will go into effect 180 days after […]
EUR/USD Reaches 6-Month High as the Fed and ECB Continue to Tighten. A busy week, full of economic releases has just ended and the last trading week before Christmas is underway, with a lackluster schedule. The Fed and ECB both decided to hike their respective rates as anticipated but they also signaled that more hikes […]
Bitcoin Rejected at Resistance. Bears Aim for $17,000 Break. Inflation in the U.S. finally appeared to slow down last week, which prompted a swift and bullish reaction from Bitcoin and other cryptocurrencies. The inflation numbers for November showed a rather significant discrepancy between forecast and actual: monthly CPI actual 0.1% (forecast 0.3%); yearly CPI actual […]
The Dollar Shows Recovery Signs: Bearish Divergence in Play. Buckle up for a wild ride on the Forex Sea, because the next 5 trading days are packed with everything that a volatility trader wants and needs. From U.S. inflation data to retail sales and interest rates, to the ECB Meeting and press conference, this week […]
Bitcoin Price Manages to Stay Above Support. Are the Bitcoin Bulls Waking Up? The downtrend is still in place, make no mistake about it, but the bears may soon enter their caves to hibernate for the winter. After all, they’ve had a long run… Looking at the chart, it’s obvious who’s in control from a […]