EUR/USD Holds 1.0500 Support as RSI Signals Bounce Since Donald Trump’s win in the U.S. Presidential race, the dollar has been skyrocketing but the last few days have been filled with rate cut noise and speculation. Since Election Day, the US Dollar Index (DXY), which measures the dollar’s strength against a basket of 6 major […]
The Weekly RSI Marches Forward Into Overbought Territory as Bitcoin Retreats off Highs. Donald Trump’s victory in the Presidential race ignited the fire that propelled Bitcoin to unseen-before heights but the signs were already there. For a long time, Bitcoin was trapped inside a descending channel and usually, when an asset breaks out of a […]
EUR/USD Finds Support at 1.0680; Bullish Divergence Hints at Rebound Potential Last week’s Trump win helped both the dollar and Bitcoin and ignited hopes of a loose tax policy going forward. Now it remains to be seen how much of Trump’s campaign talk will translate into actual facts. He proposed business deregulation, sliced taxes, increased […]
New Bitcoin ATH May Face Retracement, RSI Shows Bearish Divergence On Wednesday, November 6, Bitcoin hit a historic All-Time High (ATH) of $76,990 according to Tradingview charts. The favorable wind in its sails was the U.S. Presidential Election, more exactly, Donald Trump’s win. Many have expected this to happen due to Trump’s pro-Bitcoin views and […]
Textbook S/R Reaction Caps EUR/USD at 1.0900, Gap Closure Probable The U.S. Non-Farm Payrolls report came in much lower than anticipated, showing that only 12,000 jobs were added as opposed to the anticipated 106K and the previous 223K. The report reading has been skewed by hurricanes that devastated the U.S. but also by strikes initiated […]
UPtober Bets Paid Off: Bitcoin Adds More Than $10K to Its Value. After breaking through the double top at $69,000, Bitcoin flew to a high of $73,600, coming within inches of the All-Time High at $73,794. It is currently trading at $69,350 and it is printing a pullback, which is relatively normal after a strong […]
Bullish Divergence Points to EUR/USD Pullback, Economic Data May Shift Bias Last week’s laid-back economic calendar will make way this week for market-movers galore: from major corporate earnings to inflation data and the king of economic indicators, the NFP. We will most likely see some interesting moves that will set the tone for the next […]
Bulls Battle Resistance: The Significance of Bitcoin’s $69K Rejection Many indicators can signal Bitcoin’s movement, but whale activity has proven one of the most reliable throughout the years. Following Bitcoin’s recent breakout, the whales have started to accumulate more coins, potentially signaling that an even stronger move will follow. According to data from on-chain market […]
Double Top at 1.1200 Pushes EUR/USD Lower, Support at 1.0800 Targeted Last week’s price action was mainly driven by the European Central Bank’s decision to cut the rate from 3.65% to 3.40%. This was not a surprise at all but the prospect of further rate cuts will probably continue to push the price lower. The […]
Bitcoin ETFs Lead The Charge – The Descending Channel is Obliterated It finally happened: Bitcoin broke the descending channel that’s been trapping it since March. And it looks like this time it’s the real deal. After another false break in late September, the flagship cryptocurrency dipped as low as $59,000, but this week all the […]