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 […]
EUR/USD Approaches Oversold, Eyes 1.1000 Resistance after Rejection at 1.0900 Inflation in the U.S. came in slightly hotter than expected, as shown by the Core Consumer Price Index (CPI) released last week, which rose by 0.3% while the forecast was 0.2%. However, this is still in line with last month’s data, which was also 0.3%, […]
Price Faces Rejection at Key Levels, 50-Day MA Holds the Balance Uptober is really letting down its Bitcoin fans thus far: it started with a significant drop of about $3,000. However, all the losses of the month were erased by October 7, bumping up hopes of a recovery. Yet, those hopes were short-lived and the […]
EUR/USD Breaks Down After Double Top at 1.1200 The US Dollar is riding high on the back of better-than-expected jobs data released last Friday. All three job indicators exceeded expectations, showing that the inflation war is close to being over without an economic recession. The NFP showed that 254K new jobs were created during the […]
Bull Trap Bonanza – The Descending Channel Is at It Again. Historically, October is the best month of the year for Bitcoin but this particular October hasn’t started with the best foot forward. We just experienced another false break of the descending channel and the bulls continue to get caught off guard as they did […]
Double Top at 1.1200 and RSI Divergence Suggest Bearish Pressure for EUR/USD. The dollar closed the week lower after the Personal Consumption Expenditure (PCE) price index posted softer-than-expected numbers. This shows that the Fed’s decision to apply a super-sized cut was not premature. The PCE increased by 0.1%, lower than the forecast (0.2%) and lower […]
Is Bitcoin Finally Free of the Descending Channel? Where to Next? On September 26, spot Bitcoin Exchange Traded Funds (ETF) have seen the largest inflow since July 22nd. This happened just as Bitcoin broke through the $65,000 barrier and possibly managed to finally break free of the descending channel. On September 26, Bitcoin had a […]
Doji Spotted at Resistance Level. Is the Uptrend Over? The Fed finally took a significant step during last week’s FOMC Meeting, opting for a bold 50-bps cut after two years of stringent monetary policy, rather than the more conservative 25-bps. This suggests that the primary battle against high inflation is largely won, though some smaller […]
One More Breakout Attempt: Is This the Descending Channel’s Last Fight? The Fed finally did it and after two years of tight monetary policy, they decided to deliver a massive 50-bps cut instead of the more tame option of just trimming 25 bps. This implies that the main war against the high inflation has been […]