Daily F.X. Analysis, January 28 – CB Consumer Confidence In Highlights! 

On the forex front, the U.S. Dollar Index edged up 0.1% on the day to 97.94. In the U.K., the Confederation of British Industry will post January retail sales index (4 expected). The U.S. Commerce Department will release December durable goods orders (+0.4% on month expected). The Conference Board will publish January Consumer Confidence Index (128.0 expected). SP/Case-Shiller will report the 20-City Composite Home Price Index for November (+0.4% on month expected). The Richmond Federal Reserve will release its Manufacturing Index for January (-3 expected). Economic Calendar – CB Consumer Confidence    BTC/USD – Daily Analysis  The Bitcoin has enhanced the support over $9,000 after breaking through the resistances we mentioned yesterday at $8,700 and $8,800. Bitcoin buyers anticipate concluding the month of January not just in the assertive but also with a bullish bias. The BTC/USD is entering the $9,081 zone, following an impressive 2% growth in value on the day. The prevailing strong bullish trend is driving off the last of the bears in preparation for the next bull-run to $10,000. BTC/USD – Daily Technical Levels Support      Resistance  8,676.62      9,100.06 8,408.25     9,255.13 7,984.81      9,678.57 Pivot Point 8,831.69 BTC/USD – Daily Forecast The BTC/USD is trading with a bullish bias, having tested the major resistance area of 9,125. For now, the BTC/USD is in the overbought zone, and it may drive slight bearish retracement. The BTC/USD may dip until the 8,800 area today.   EUR/USD – Eyes on Manufacturing PMI Figures  The

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Daily F.X. Analysis, January 27 – German Ifo Business Climate In Highlights! 

On the forex front, the U.S. Dollar Index gained 0.2% on the day to 97.85. The Japanese yen strengthened for a four straight session, as the spread of the deadly coronavirus weighed on market sentiment. USD/JPY dipped 0.2% to 109.28. Later today, December U.S. new home sales will be reported (up to an annualized rate of 731,000 units expected). European stocks rebounded, with the Stoxx Europe 600 Index gaining 0.9%. Germany’s DAX rose 1.4%, the U.K.’s FTSE 100 added 1.0%, and France’s CAC was up 0.9%. Economic Calendar – German Ifo Business Climate Ahead   BTC/USD – Daily Analysis  As the weekly close surrounded, the BTC/USD price reached above $8,500 after using the previous day trading in the $8,200 to $8,300 limit. At the time of writing, bulls are trying to drive through the $8,500 to $8,650 resistance zone to inch near a daily lower high at $8,800. On the 6-hour timeframe, the MACD (moving average convergence divergence) has exhibited a bull crossover, and the histogram has shifted into the positive, bestowing a sharp uptick in momentum.  In case, the BTC/USD prices can develop above $8,650 and cross above $8,800 from resistance; the exchange rate could surge to $9,100, which follows up with the top arm of the Bollinger Band tool. BTC/USD – Daily Technical Levels Support Resistance  8177.32      8464.35 8055.53     8629.59 7768.5        8916.62 Pivot Point 8342.56 BTC/USD – Daily Forecast The BTC/USD is trading with a bullish bias above a strong support level

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Daily F.X. Analysis, January 24 – Manufacturing PMI Figures In Focus! 

On the forex front, the U.S. Dollar Index slipped 0.1% on the day to 97.50. The EUR/USD gained 0.1% to 1.1095. The European Central Bank is expected to keep its monetary policy unchanged (deposit facility rate at -0.50% expected).  Besides, the U.S. government bonds were steady, as the benchmark U.S. 10-year Treasury yield settled unchanged at 1.768%. The House Price Index for November declined to 0.2% from the expectations of 0.3% and weighed on the U.S. dollar. Let’s monitor the ka Economic Calendar – Manufacturing PMI Figures In Focus     BTC/USD – Daily Analysis  The BTC/USD has stayed with a bearish since the week began. Losses after losses have been incurred where the bearish influence has pushed its way thought crucial several support zones, including $8,800, $8,500 and $8,450.  The BTC/USD is trading at $8,304 after continuing the decline below Thursday’s support, nearly $8,450. Looking back at the trend last week, Bitcoin surged from levels around $7,700 to highs close to $9,200.  BTC/USD – Daily Technical Levels Support    Resistance  8,544.55      8,761.56 8,450.08     8,884.1 8,233.07     9,101.11 Pivot Point 8,667.09 BTC/USD – Daily Forecast Bitcoin traded in line with our expectations as the bearish bias lead its prices toward an 8,294 level. The leading crypto pair is now facing strong resistance around 8,438, while support prevails around 8,270. A bearish breakout of this level can also extend the selling trend until 8,125, which marks resistance to become a support level. The 20 and 50 periods of

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Daily F.X. Analysis, January 23 – ECB Monetary Policy In Focus! 

On the forex front, the U.S. Dollar Index slipped 0.1% on the day to 97.50. The EUR/USD gained 0.1% to 1.1095. The European Central Bank is expected to keep its monetary policy unchanged (deposit facility rate at -0.50% expected).  Besides, the U.S. government bonds were steady, as the benchmark U.S. 10-year Treasury yield settled unchanged at 1.768%. The House Price Index for November declined to 0.2% from the expectations of 0.3% and weighed on the US dollar. Let’s monitor the ka Economic Calendar – ECB Monetary Policy In Focus   BTC/USD – Daily Analysis  On Thursday, Bitcoin stays over $8,500 after the support at $8,600 gave in to the selling price action. The bearish revision could be a reflex action to create a new demand for BTC in a bid to push towards $9,200.   Bitcoin is likely to sink deep towards $8,400 (possible support). The leading technical indicator, the Relative Strength Index, has entered into the oversold region flags that selling is at its height.  In the case of both $8,500 and $8,400 grant to the selling pressure, Bitcoin will gain added support at $8,250 and $8,000, respectively. BTC/USD – Daily Technical Levels Support    Resistance  8,544.55     8,761.56 8,450.08    8,884.1 8,233.07     9,101.11 Pivot Point 8,667.09 BTC/USD – Daily Forecast The BTC/USD is trading slightly bearish today at 8,555 with immediate support around 8,530. Violation of this candle can drive the selling trend until 8,465, while the resistance stays around 8,650 today. Overall, the BTC/USD is exhibiting sideways

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Daily F.X. Analysis, January 22 – Canadian Rate Decision In Focus! 

The U.S. Dollar Index stayed range-bound on Tuesday, closing flat on the day at 97.61. German ZEW Indicator of Economic Sentiment climbed 16 points to 26.7 in January to place the highest mark since July 2015. The ZEW data confirmed the economy hit the lowest point in the last quarter of 2019 and is witnessing a rebound.  Later today, U.S. existing homes sales are anticipated to increase to an annualized rate of 5.43 million units in December. The U.S. government bonds were in demand, as the benchmark U.S. 10-year Treasury yield sank to 1.768%, its lowest level since December 3, from 1.834% last Friday. Economic Calendar – U.K. Labor Canadian Rate Decision In Focus   BTC/USD – Daily Analysis  On Wednesday, the BTC/USD has seen some volatility following a dip of as low as $8,400 before swiftly rising towards $8,800. This dip and consequent growth validate the massive volume of support that endures right below BTC’s current trading level, and it can bolster Bitcoin’s demand. The BTC/USD survived to close over 8,654. The leading crypto pair is consolidating above 8,640, with next support around 8,600 and resistance at 8,730. On the higher side, 8,845 is a key beneath which the BTC/USD is expected to keep the bearish momentum. BTC/USD – Daily Technical Levels Support      Resistance  8,549.34      8,831.08 8,377.32      8,940.8 8,095.58     9,222.54 Pivot Point 8,659.06 BTC/USD – Daily Forecast The BTC/USD has violated the double top resistance level of 8680, which is now likely

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Daily F.X. Analysis, January 21 – U.K. Labor Market Figures In Highlights! 

On the forex front, the U.S. Dollar Index was little changed on the day at 97.61 amid thin holiday trading. The EUR/USD was broadly flat at 1.1095. Later today, the German ZEW Current Situation Index for January will be released (-13.5 expected). The ZEW survey results in January will be released for Germany (current situation at -13.5, expectations at 15.0 expected) and the Eurozone. Economic Calendar – U.K. Labor Market Figures In Highlights   BTC/USD – Daily Analysis  The price is resting on significant daily support; failure to continue would suggest a strong stream of selling pressure. It should be noted at $8600-500 range. Price action is driving within a possible bearish flag structure, directed to a violation on the south side. It is also worth seeing that this $8600-500 is a fair demand zone; there may be an opportunity for the bulls to jump. Overall, the Bitcoin price is holding in the bearish zone, down some -0.90% in the other half of the session. The BTC/USD is consolidating within a significant daily support area, $8600-500 range.  The BTC/USD hasn’t changed much so far as it continues to trade with sideways, following the same technical levels. A day before, the BTC/USD plunged lower to hit a low of 50% Fibonacci retracement level at 8,450.  BTC/USD – Daily Technical Levels Support Resistance  8,735.08     8,974.19 8,632.13      9,110.35 8,393.02     9,349.46 Pivot Point 8,871.24 BTC/USD – Daily Forecast The BTC/USD managed to close higher above 8,654. At the moment, the

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Daily F.X. Analysis, January 20 – Top Trade Setups In Forex – Happy Monday, Brace for Trades! 

The U.S. official data showed that housing starts surged to an annualized rate of 1.608 million units in December, higher than 1.380 million units expected and the highest level since late-2006. The number of building permits posted 1.416 million units, lower than 1.460 million units expected. Economic Calendar – Martin Luther King Day Holiday!   BTC/USD – Daily Analysis  Bitcoin wonderfully realized the resistance at $9,000 over the weekend. For the very first time in the year 2020, the BTC/USD buyers managed not just to push the price over $9,000 but also increase the gains towards $9,200. Regrettably, the high reached at $9,196 market the end of the short rally. Nearly next reversal caught the momentum that delayed short of $9,200. Bitcoin spiraled, unbothered of the soft support at $9,000. The following essential support at $8,750 was penetrated sharply, ending in more declines towards $8,500. BTC/USD – Daily Technical Levels  Support     Resistance  8,735.08        8,974.19 8,632.13        9,110.35 8,393.02       9,349.46 Pivot Point 8,871.24 BTC/USD – Daily Forecast The BTC/USD fell dramatically lower to place a low of 50% Fibonacci retracement level of 8,450. Later it managed to close higher above 8,654. At the moment, the pair is trading at 8,650 with immediate support around 8,600 and resistance at 8,730. On the higher side, 8,845 is a key below which the BTC/USD is likely to maintain the bearish momentum today.   EUR/USD – Resistance Becomes Support Today in the early Asian session, the EUR/USD

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Daily F.X. Analysis, January 15 – Top Trade Setups In Forex – U.K. Inflation In Highlights the Spotlight! 

The Consumer Price Index (CPI) for December rose 0.2% as expected, and the Core Consumer Price Index (CPI) in December dropped to 0.1% from expected 0.2% ad weighed on the U.S. dollar. After the release of Core CPI from the United States moved EUR/USD prices a bit upward to recover some of its day’s losses. The weaker than anticipated Core CPI from the U.S. added in the upward movement of GBP/USD and EUR/USD pairs on Tuesday. Economic Calendar – U.K. Inflation In Highlights the Spotlight   BTC/USD – Daily Analysis  The bullish bias in BTC/USD proceeds to stimulate bullish momentum in the market. Currently, the BTC/USD pair is trading at 8,575. Which marks a 61.8% Fibonacci retracement level. A bullish violation of this mark can stretch buying until 8,770. While support stays around 8,398 level today. BTC/USD – Daily Technical Levels  Support     Resistance  8,517.99     8,909.2 8,295.34    9,077.76 7,904.13    9,468.97 Pivot Point 8,686.55 BTC/USD – Daily Forecast Earlier today, the leading cryptocurrency surged to $8,848.92 before falling back to 8,686 zones. The BTC/USD has completed 38.2% Fibonacci retracement around 8,564 level, and this level is now supporting the Bitcoin prices. On the 4 hour timeframe, the pair seems to form a bearish engulfing candle.  If this happens, we may see BTC/USD prices going towards 8,447 or even towards 61.8% Fibo level of 8,445. Let’s keep an eye on 8,564 as Bitcoin can trade bullish above this level and bearish below this.   EUR/USD – Trendline Resistance Remains

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Daily F.X. Analysis, January 14 – Top Trade Setups In Forex – U.S. Inflation Under the Spotlight! 

The U.S. dollar opened the week held by faith on the Sino-U.S. trade aspect, while the pound staggered lower following weekend signs at an interest rate decreased from a BOE (Bank of England) policymaker. A U.S.-China trade agreement is expected to be employed at the White House on Wednesday, though rumors on a phase two-pack are expected to draw on for months. Economic Calendar – U.S. Inflation Under the Spotlight BTC/USD – Daily Analysis  The BTC/USD price finished the week at $8,180, factoring an 11% gain for the week after grappling with violating the resistance at $7,600 during the month of November and December. On Monday, the BTC/USD price is down by 1%, but the bulls have maintained the $8K resistance. The total amount of market cap excluding BTC edged higher by 12.5% last week, indicating that altcoins are beginning to get some market portion from Bitcoin, which is vital given BTC’s exciting week and counter to the general downtrend that has been in place since summer.  BTC/USD – Daily Technical Levels  Support    Resistance  8,068.79      8,175.16 8,005.76      8,218.5 7,899.39      8,324.87 Pivot Point 8,112.13 BTC/USD – Daily Forecast The bullish trend in BTC/USD continues to drive bullish momentum in the market. Currently, the BTC/USD pair is trading at 8,575. Which marks a 61.8% Fibonacci retracement level. A bullish violation of this mark can stretch buying until 8,770. While support stays around 8,398 level today.   EUR/USD – Trendline Resistance Holds  The EUR/USD currency pair

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Daily F.X. Analysis, January 13 – Top Trade Setups In Forex – Eyes on the UK GDP! 

On Mondy, the U.S. dollar continues to trade with bearish bias after the disappointing data from the labor market of the U.S. At 18:30 GMT, the closely watched Non-Farm Employment Change, which measures the number of employed people during December was released. It showed a decline to 145K from the expected 162K and weighed on the U.S. dollar. The Average Hourly Earnings for December also decreased to 0.1% from the expected 0.3% and added in the pressure of the U.S. dollar to support EUR/USD further. Economic Calendar – Eyes on the UK GDP!  Economic Calendar by TradingView     BTC/USD – Daily Analysis  The BTC/USD slid beneath $8,000 and stayed moving towards the South direction on Friday. The crypto market turned back most of its profits. At the moment of reporting, BTC/USD is trading at $8,000, dangerously near to the 50 periods SMA weekly (currently at $7,690). The leading cryptocurrency has dissipated more than 2% of its worth in recent 24 hours and 1.2% since the inception of Friday.  Previously, the BTC/USD pair has tested the downward target of 7765 on the back of a firmer U.S. dollar. On the 4 hour timeframe, the BTC/USD has faced double bottom support near 7765, which continues to stay support for Bitcoin.  BTC/USD – Daily Technical Levels  Support   Resistance  7,807.5       8,303.99 7,495.74     8,488.72 6,999.25    8,985.21 Pivot Point 7,992.23 BTC/USD – Daily Forecast The BTC/USD is trading at 8065, which marks 61.8% Fibonacci retracement market. The leading crypto pair has

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