Tag: Daily Breif

Daily F.X.Analysis, May 15 – Braces for European GDP & Retail Sales In Focus! 

On Friday, U.S. President Donald Trump said that a strong U.S. dollar would be very helpful in the recovery phase after coronavirus. Furthermore, the pair failed to benefit from German’s better than expected Inflation data from April. Investors were more concerned about the Eurozone’s largest economy, whose inflation was continuously falling below from the ECB’s […]

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Daily F.X. Analysis, March 23 – Coronavirus Continues to Keep the Markets on Knees! 

The U.S. and European stock indices dropped along with stock futures following a lift in the global death losses from the coronavirus and a breakdown by Congress to accept on an aid program. The U.S. SPX (S&P 500) plunged nearly 5% while the European stocks dropped over 6% as administrators struggled to impose more limitations on people’s movements. Shares in Australia, South Korea, and Hong Kong also collapsed, while India dropped over 10% in the wake of Coronavirus fears. The dollar declined versus major peers following the Federal Reserve, and counterparts opened daily operations to contribute dollars throughout the world.  Economic Calendar      BTC/USD – Daily Analysis The BTC/USD is down over 5%, and it violated the $6,000 support zone versus the U.S. Dollar. The BTC/USD is now exhibiting selling signs, and it could proceed to move down. Bitcoin began a fresh drop after it disappointed to break above the $6,500 resistance versus the U.S. Dollar. The Bitcoin price is now trading beneath the $6,200 and $6,000 support marks. There is a crucial contracting triangle developing with support around $5,780 on the hourly graph of the BTC/USD.  The BTC/USD pair could either drop dramatically below $5,750, or it might strive a fresh surge to $6,500. One of the significant price levels to be conscious of is the $5,400 mark. If Bitcoin drops beneath that level, it will be a very bearish plot for crypto as a whole. Although the price increased to a daily high of $6,400 on Sunday, a

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Daily F.X. Analysis, March 17 – E.U. Economic Sentiment & U.S. Retail Sales in Highlights! 

The dollar continues to trade bullish, despite the dovish monetary policy decision from the Federal Reserve. On Sunday, the U.S. Federal Reserve declined interest rates to near-zero, and the dollar showed a slight drop on the news. However, the move drove away from the yield on holding dollars and with it much of their appeal.  Despite the Fed’s 100-basis-point reduction and competitive liquidity standards, the cost of borrowing the greenback internationally – revealed in cross-currency swaps – has continued to surge. The greenback has historically grown bullish momentum in the markets as the increased level of uncertainty has driven the safe-haven appeal in the U.S. dollar.  Economic Calendar    BTC/USD – Daily Analysis The BTC/USD price sank to $3,700 for a short time on March 12, concluding the day at $4,970. By March 13, the price increased from the significant downtrend, closing the day at $5,563 and dispensing an exciting return of more than 11%. The fresh market turbulence, whether in forex markets or the cryptocurrencies, has elevated inquiries on the price growth for Bitcoin, as well as its fundamental network characteristics. The markets have been extremely volatile, which are making traders unusual weather to treat Bitcoin a safe haven currency or not.  The BTC/USD price is revealing a couple of scenarios expected to transmit most traders at risk and dilemma. On Monday, the BTC/USD continued to trading above $5,000, which currency marks crucial support. On the higher side, the resistance stays around $6,000, which is keeping the BTC/USD prices in

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Daily F.X. Analysis, February 06 – Speeches from ECB and RBA In Focus! 

On the forex front, the U.S. Dollar Index rose 0.3% on the day to a two-month of 98.26, supported by an upbeat ADP private jobs report. Regarding U.S. economic data, the Automatic Data Processing (ADP) jobs report showed an addition of 291,000 private jobs in January, exceeding expectations of +157,000.  The Markit U.S. Services Purchasing Managers Index (final reading) expanded to 53.4 in January (53.2 expected). The Institute for Supply Management’s (ISM) Non-Manufacturing Index rose to 55.5 (55.1 expected). Economic Calendar      BTC/USD – Daily Analysis  The BTC/USD price hits a knot short of $9,800, giving room for a buying until $9,600. The BTC/USD soaring channel is expected to grow the trend in the following weeks.  Bitcoin is back in its bullish form after examining lows close to $9,000 at the start of the week. The revival has led back the expectation that $10,000 is close.  The BTC/USD has violated the horizontal resistance level of 9,520, which is keeping the leading cryptocurrency bullish. The pair is trading at 9,616 now, right above the previously violated double top pattern, which is now extending support at 9,520. BTC/USD – Daily Technical Levels Support    Resistance  9,339.23     9,901.11 8,989.92   10,113.68 8,428.04   10,675.56 Pivot Point 9,551.8 BTC/USD – Daily Forecast The BTC/USD is trading at 9,616 now, right above the previously violated double top pattern, which is now extending support at 9,520. With the violation of this double top level, the BTC/USD is now exposed to 9,925 and even 10K level, especially

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Daily F.X. Analysis, February 04 – Risk on Sentiment In play! 

On the forex front, the U.S. Dollar Index bounced 0.4% on the day to 97.81, lifted by stronger-than-expected manufacturing data. On Tuesday, the Research firm Markit will publish January U.K. Construction PMI (47.1 expected). The European Commission will report the eurozone’s December PPI (-0.7% on year expected). The U.S. Commerce Department will post December factory orders (+1.2% on month expected) Economic Calendar      BTC/USD – Daily Analysis  The BTC/USD price failed to stay over the $9,500 resistance and declined recently versus the greenback. The BTC is likely to find support, and it might bounce back from $9,150, or it might sink heavily in case of a bearish breakout.  The BTC/USD bulls are striving hard to preserve the key $9,200 and $9,150 support marks versus the greenback. The price settles at the risk of an explicit drop if there is a breach under $9,150.  There is a downward channel being formed with resistance around $9,320 on the hourly timeframe of the BTC/USD pair. The buyers need to attain momentum over $9,500 to avoid a collapse below $9,150 BTC/USD – Daily Technical Levels Support    Resistance  9,193.74        9,381.66 9,113.97         9,489.81 8,926.05       9,677.73 Pivot Point 9,301.89 BTC/USD – Daily Forecast The technical side of the BTC/USD mostly the same as it continues to face resistance around the 9,575 area. On the daily timeframe, the BTC/USD has formed a bearish candle followed by a tweezers top pattern, which is very likely to drive bearish retracement

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Daily F.X. Analysis, January 30 – BOE Monetary Policy Decision in Highlights! 

On the forex front, the U.S. Dollar Index edged up 0.1% on the day to 98.06, as the Fed kept its monetary policy stance unchanged against the backdrop of uncertainty. The European Central Bank will post the January Economic Confidence Index (101.8 expected) and final readings of the Consumer Confidence Index (-8.1 previously). The German Federal Statistical Office will release January CPI (+1.7% on-year expected) and jobless rate (steady at 5.0% expected). Economic Calendar – BOE Monetary Policy Decision in Highlights   BTC/USD – Daily Analysis  The BTC/USD traded slightly lower but lingered over the $9,150 support versus the U.S. Dollar. The Bitcoin bears need to push the price below $9,150, or the price could rally above $9,500. The Bitcoin price is trading a crucial support region around the $9,150 level versus the U.S. Dollar. The current technical structure over $9,000 implies the price is planning for the next breakout setup. BTC/USD – Daily Technical Levels Support     Resistance  9,247.68       9,445.4 9,139.68       9,535.12 8,941.96       9,732.84 Pivot Point 9,337.4 BTC/USD – Daily Forecast The prices of bitcoin haven’t changed much so far as it continues to trade around 9,308 level. The BTC/USD may find strong support at 9,244 today, and this level can keep the BTC/USD prices bullish.  On the higher side, the pair may find next resistance around 9,507, and violation of this can also open further room for buying until 9,775. Whereas, a bearish breakout of 9,244 support can lead BTC/USD prices towards

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Daily F.X. Analysis, January 29 – FED Monetary Policy Decision on Ducket! 

The U.S. dollar was little changed despite stronger-than-expected U.S. economic data, as investors awaited the Fed’s interest-rate decision. The Dollar Index marked a day-high of 98.15 before easing back to close at 97.97, broadly unchanged from the prior session. The U.S. Federal Reserve will announce its interest-rate decision (expected to be unchanged at 1.50% – 1.75%). Economic Calendar – FED Monetary Policy Decision on Ducket     BTC/USD – Daily Analysis  On Wednesday, the BTC/USD prices soared to break $9,400 resistance for the very first time in the year 2020. The tug of war among the buyers and the sellers gets momentum, adding a choppy session under $9,400 mark. Lately, the BTC/USD price has exhibited bullish correction from $9,397 (opening value) on Wednesday to $9,431, which marks the daily high. The bullish strength emanates from the brief surge during the American session on Tuesday. For now, Bitcoin has a market value of $9,332, following an indirect 0.50% loss on the day. The BTC/USD’s bullish trend continues as the leading pair dip to 8,800 support zone ahead of surge until 9,380 level. Although the leading cryptocurrency is in the overbought territory, the latest candlesticks are suggesting chances of bullish trend continuation.  BTC/USD – Daily Technical Levels Support      Resistance  8,895.92      9,183.66 8,749.93      9,325.41 8,462.19      9,613.15 Pivot Point 9,037.67 BTC/USD – Daily Forecast In the daily timeframe, the BTC/USD has formed three white soldiers pattern, which supports the bullish trend in the BTC/USD. On the higher

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Daily F.X. Analysis, January 10 – Top Trade Setups In Forex – Eyes on NFP Figures! 

On Friday, the market participants’ primary focus stays on the U.S. NFP data, which is due to come out during the U.S. session. At 18:30 GMT, the Unemployment Claims form the United States Department of Labour for the previous week showed that the jobless claims decreased to 214K from the expected 221K and supported the US dollar.  The trader’s focus will also be on the US Employment data for December, Nonfarm Payrolls (NFP) to be very specific. Expectedly, there will likely be no change in the US Hourly Earnings and Unemployment Rate figures of 3.1% and 3.5%, respectively. Though, NFP is likely to soften to 164K from 266K prior. Economic Calendar – Trump Eases War Tensions    BTC/USD – Daily Analysis  Following a high of $8,000 yesterday, the BTC/USD pair seems to trade lower in the $7000’s zone. The cryptocurrency’s capacity to operate over this level is bullish, and further proves the chance that it is in the process of developing a long-term bottom that could eventually spark the following macro uptrend. This open denial drove the cryptocurrency as low as $7,777 a few hours before, just before bulls climbing up and ardently supporting this mark, which emerged in BTC rising back towards $8,000.  BTC/USD – Daily Technical Levels  Support    Resistance  7,704.87       7,950.22 7,604.72       8,095.42 7,359.37       8,340.77 Pivot Point 7,850.07 BTC/USD – Daily Forecast The BTC/USD pair has already hit the bearish target of 7765 in the wake of a stronger U.S. dollar.

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Daily F.X. Analysis, December 02– Top Trade Setups In Forex – ECB President Lagarde Ahead! 

On Monday, the market continues to trade with the risk-on sentiment as traders are feeling optimistic about the market since the release better than expected Chinese manufacturing PMI data. That reflects the world’s one of the biggest nations is still on track to recovery.  The dollar remained under pressure on Friday amid the increased tensions between US & China after the signing to Hong Kong Bill by US President Trump and gave GBP/USD an upward track. The US Dollar index remained under pressure after the thanksgiving holiday despite higher US yields.  The German Unemployment Change at 13:55 GMT supported Euro with a drop to -16K against the expectations of 5K. At 14:00 GMT, the Italian Monthly Unemployment rate was also dropped to 9.7% from the expectations of 9.8% and supported Euro.  Economic Calendar – ECB President Lagarde Ahead!      BTC/USD – Daily Analysis Over the weekend, the BTC/USD hasn’t made much progress as it continued to trade above 7,310 support zone. Overall, the pair has formed a symmetric triangle pattern, which is keeping the Bitcoin in consolidation within the 7,700 – 7,300 area.  The BTC/USD price is now beneath the 200-DMA ($9,403), and the graph shows price drawing closer to the price at $5,660. Traders will also see that through times of consolidation, Bitcoin value mounts along with the 200-week moving average, which is at $4,878 on the daily chart. Since sinking below the descending channel on Nov. 25, Bitcoin (BTC) has recovered $7,000, netted some strong resistance at $7,400,

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Daily F.X. Analysis, October 23 – Top Trade Setups In Forex – Parliament Brexit Vote Rejected! 

The U.S. dollar gains bullish momentum on the rejection of Brexit Deal via Parliament Vote. In voting, the government deal for Brexit was approved, but the schedule was rejected. In response to which PM Boris Johnson said that the first consequence of this action by legislation would be No-Deal Brexit. After the threats of no-deal Brexit from PM Boris Johnson, Donald Tusk, the President of the European Council, said that E.U. was considering granting an extension to the U.K. after the letter from Johnson was received.  Johnson then claimed that he would pause the legislation and go for a No-Deal Brexit on the said deadline of October 31. Let’s see how Boris Johnson plays now.  Economic Calendar – Parliament Brexit Vote Rejected!    Economic Calendar by TradingView   BTC/USD – Daily Analysis The leading cryptocurrency, Bitcoin, fell sharply below 8,000 level after the total crypto market cap declined to escalate beyond the $220.0B resistance and sank lately. The BTC/USD price plunged over 3%, and it is presently trading beneath the $8,000 support zone. Alongside, the Litecoin (LTC) price is dropping nearly 4%, and it is advancing to the $52.00 support level.  The Trump government began to discourage the bitcoin bubble of 2017 by supporting the initiation of futures products, a retired executive announced on Monday. With this, the threats of the bitcoin bubble burst loom around the corner, and consequently, we noticed sell-off from a certain amount of traders.  BTC/USD – Daily Technical Levels Support    Resistance  7,822.83    8,079.36

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