Divergence Signal Proves Useful: EUR/USD Jumps More than 200 Pips In our previous post, we warned that the EUR/USD pair is showing clear signs of bullish divergence, which more often than not, results in a move to the upside. This pattern, along with other factors (RSI’s oversold position and the presence of a support level), […]
Bitcoin Regains $30K. Early Signs of Recovery or Range-Bound Trading? Major coins such as Bitcoin and Ethereum started a fresh rally Thursday, on the back of a weaker US Dollar and a renewed interest in the crypto market. Thursday’s push broke through the key psychological level at $30,000 and took Bitcoin above the 50-period Moving […]
EUR/USD Touches 5-Year Low. Bullish Divergence in Play. Inflation in the U.S. is starting to decline, according to last week’s CPI that showed the yearly core inflation rate dropped to 6.2% from the previous 6.5%. The monthly CPI showed a 0.3% change, which is a big deal considering that the previous reading was 1.2%. Inflation […]
Domino Effect Sends Bitcoin Tumbling. On Thursday, May 12, Bitcoin reached a low of $25,401 after TerraUSD (UST) un-pegged from the US Dollar, dragging almost all cryptocurrencies lower. More than $200 billion was erased from the crypto market and panic became the status quo of the blockchain. The losses spilled over to the biggest stablecoin […]
EUR/USD Returns Lower After Timid Attempts to Break Resistance Last week the Fed added 50 bps to the interest rate but Fed Chair Jerome Powell mentioned during the press conference that “The FOMC is not actively considering 75 bps hikes”. Data released by the U.S. Bureau of Labor Statistics showed that 428K new jobs were […]
Triple Bottom Shattered. Where Is BTC Headed Next? After a period of sluggish and sideways movement, the apex cryptocurrency is showing signs of increased bearish momentum. The decline started after a touch of $40,000 resistance and now the pair has breached the key support at $37,500, which is the place where the triple bottom formed. […]
Dollar on Fire as the Fed Is Getting Ready to Add 50 Bps to the Interest Rate. The US Dollar is on the offensive once again, although last week’s U.S. GDP numbers disappointed and triggered a stall in the greenback’s advances. However, analysts still expect the FOMC to raise the interest rate by 50 basis […]
BTC/USD Fails to Break $40K as the US Dollar Hits Historical Levels As shown by the Gross Domestic Product report released Thursday, the U.S. economy contracted by 1.4%, while the forecast pointed towards a 1.1% increase. Cryptocurrencies in general and Bitcoin in special follow the equity markets (positively correlated), thus signs of a recession could […]
Greenback Steps on the Gas Pedal Heading Into April’s Last Trading Week. The clear divergence between the monetary policies of Europe and the U.S. is likely to cause more downside for EUR/USD, which is already headed for the lowest point of 2020, located at 1.0635. The FOMC is likely to add 50 bps to the […]
Morgan Stanley Publishes Glowing Bitcoin Report The flagship cryptocurrency reached an intraday high at $42,978 on Thursday but the rally failed soon after Fed Chair Jerome Powell discussed the possibility of a bigger hike at the next FOMC meeting. According to a CNBC report, the Federal Reserve Chair considered that it’s “absolutely essential” to restore […]