EUR/USD Hits Long-Term Trend Line. Bounce-or-Break Scenario in Play The US Dollar received a big hit from the NFP and accompanying reports, which sent the US Dollar Index (DXY) to a low at 102.65 and EUR/USD to a high at 1.0940. The jobs data also sparked fears of a recession and talks about a […]
BTC/USD Hits $70K, Faces Critical Support at $63,600 Former President Donald Trump is going “all-in” on cryptocurrency, promising to make the U.S. a “Bitcoin superpower” if re-elected. Speaking at a Bitcoin conference in Nashville, Trump laid out plans to turn the U.S. into the “crypto capital of the planet.” His plans include creating a strategic […]
EUR/USD Eyes Support as Dollar Bulls Gain Momentum Last week’s main story was the release of the U.S. Personal Consumption Expenditures Index (PCE), which showed that inflation increased at a restrained pace. The Personal Spending survey that came out at the same time showed that consumers accelerated their spending, a sign of a healthy economy. […]
Bitcoin Struggles to Break Free. The Descending Channel in Play Once More Amidst a lively crypto market, all eyes are on the debut of Ether ETFs in the U.S. On July 23, the first trading day for these spot Ether ETFs saw net outflows of $78 million. However, the following days brought a positive shift, […]
EUR/USD Triple Top Invalidated as RSI Nears Overbought Big news over the weekend, as President Joe Biden decided to step out of the election race, endorsing the current Vice President, Kamala Harris to take over the Democratic reins for the November head-to-head. Harris garnered support from many party members, though several prominent figures, including former […]
Bitcoin’s Descending Channel Is Still Doing Its Job. Upper Barrier Next? Bitcoin ETFs are still the talk of the town and they continue to attract massive investments. BlackRock’s IBIT Bitcoin Exchange Traded Fund (ETF) saw another $107 million in inflows on July 18, marking the ninth consecutive day of growth. This could be related to […]
Triple Top Formation and RSI Signal EUR/USD Reversal Inflation is on track to drop to acceptable levels in the U.S., as shown by last week’s Consumer Price Index (CPI) release. The yearly headline figure moved from the previous 3.3% to 3.0%, while the monthly figure showed a -0.1% change from the previous 0.0%. This is […]
Bitcoin Shows Another False Break. Top Of The Channel Next? For the fifth consecutive day, U.S. spot Bitcoin exchange-traded funds (ETFs) saw positive net inflows, totaling more than $100 million on Thursday. Leading the pack, BlackRock’s IBIT, the largest spot Bitcoin ETF by net asset value, recorded net inflows of over $72 million and was […]
EUR/USD Approaches Key Resistance with Triple Top in Play The latest US jobs report revealed a surprising increase in Non-Farm Payrolls, rising to 206K against the anticipated 190K. Despite this headline boost, the finer details were less encouraging. The unemployment rate climbed to 4.1%, marking its highest point since November 2021. Additionally, average hourly earnings […]
The Mt. Gox Snowball Is Rolling Downhill Bitcoin took a nosedive this week, hitting its lowest point in four months. The price dropped over 12% for the week, to a low of $53,550, breaking the support levels at $57,000 and $55,000, as well as the lower barrier of the descending channel. This decline marks Bitcoin’s […]