Tag: Daily Brief

Daily F.X. Analysis, April 16 – Brace for U.S. Jobless Claims Today! 

The U.S. .dollar is gaining bullish momentum in the wake of mixed retail sales data; however, on Thursday, the greenback could lose its bids during the U.S. trading hours if President Trump surprises markets by announces guidelines for an early restoring of the economy at a news conference on Thursday. While Trump said that we had passed the peak on new cases, and it’s fascinating. Let’s look at today’s analysis.  Economic Calendar         BTC/USD – Daily Analysis The BTC/USD has spent the week striving to profit from the fall it confronted during the previous week amid a drop from $7,441. The digital asset took a breather over $6,500 and even improved topping levels past $6,900.  Nevertheless, it has shifted increasingly challenging to maintain gains towards $7,000. For this purpose, another lower improvement on Wednesday pushed Bitcoin beneath various support levels of $6,800 and $6,600.  The bearish bias spread below $6,500 before obtaining cover at the 38.2% Fibonacci retracement mark taken within the last swing high at $10,567 to a swing low $3,854. A slight bounce from this mark catapulted BTC/USD over $6,600. However, the next short term, hurdle at $6,700, is still attaining in the way.  BTC/USD – Daily Technical Levels Support Resistance  6,644        6,881 6,552        7,027 6,315         7,264 Pivot Point 6,790 BTC/USD – Daily Forecast On Thursday, the BTC/USD price is holding around 6,643 area, bouncing off above the previously suggested support level of 6,577. This support level is

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Daily F.X. Analysis, April 15 – Eyes on U.S. Retail Sales and BOC Policy Decision! 

The greenback crawled lower, but gains in riskier currencies were capped as traders worried about company earnings and braced for Chinese trade data likely to show the full impact of the coronavirus health crisis on economic activity. Later today, eyes will remain on the U.S. retail sales and Canadian monetary policy decisions, which are expected to drive market movement during the U.S. session.   Economic Calendar        BTC/USD – Daily Analysis The International Monetary Fund (IMF) has issued a stark forecast that the worldwide economic slowdown triggered by ‘the great lockdown’ will get much worse before it gets better. The BTC/USD prices shifted distinctly to trade at 6,575 area, which marks as a double bottom on the 4-hour timeframe. Above this, the Bitcoin may show slight bullish correction until 6,850, but a violation of the descending triangle pattern along with bearish engulfing candle on the 4-hour timeframe is supporting bearish bias among traders. Today, chances of a bearish breakout remain strong; therefore, the bearish breakout of 6,577 level can extend selling until 6,170. BTC/USD is fighting to break above the next resistance level of $7,000 and $7,250 versus the U.S. Dollar. The bulls are gradually taking control, and they are anticipated to target $7,000. The Bitcoin failed to break the significant support level of around $6,550 on the hourly chart of the BTC/USD pair. The pair could improve distinctly towards the $7,100 support or $6,800. BTC/USD – Daily Technical Levels Support Resistance  6,761        6,962.9 6,666   

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Daily F.X. Analysis, April 14 – Risk-off Sentiment, G7 Meetings In Highlights! 

  On Tuesday, the greenback crawled lower, but gains in riskier currencies were capped as traders worried about company earnings and braced for Chinese trade data likely to show the full impact of the coronavirus health crisis on economic activity. Later today, eyes will remain on the G7 meeting, which is expected to drive market movement during the U.S. session… Economic Calendar         BTC/USD – Daily Analysis The BTC/USD prices slipped sharply to trade at 6,575 area, which marks as a double bottom on the 4-hour timeframe. Above this, the Bitcoin may show slight bullish correction until 6,850, but a violation of the descending triangle pattern along with bearish engulfing candle on the 4-hour timeframe is supporting bearish bias among traders. Today, chances of a bearish breakout remain strong; therefore, the bearish breakout of 6,577 level can extend selling until 6,170. BTC/USD is fighting to break above the next resistance level of $7,000 and $7,250 versus the U.S. Dollar. The bulls are gradually taking control, and they are anticipated to target $7,000.  The Bitcoin failed to break the significant support level of around $6,550 on the hourly chart of the BTC/USD pair. The pair could improve distinctly towards the $7,100 support or $6,800. BTC/USD – Daily Technical Levels Support Resistance  6,672        6,944 6,510        7,054 6,238       7,326 Pivot Point 6,782 BTC/USD – Daily Forecast The BTC/USD is recovering after testing the support level of the 6,575 area, which marked as a

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Daily F.X. Analysis, April 10 – Good Friday, U.S. Inflation in Highlights! 

On Friday, the greenback started to trade on a tenuous footing and mostly showing a weekly loss in the wake of the massive new lending program from the U.S. Federal Reserves to deal with the COVID 19, which is hurting the business and economic growth drastically. On Friday, the eyes will remain on the U.S. CPI reports, which may help drive some price action during the U.S. session, elsewhere, the European sessions are likely to offer choppy trading sessions.  Economic Calendar       BTC/USD – Daily Analysis A day before, the BTC/USD fell to trade above $7000 psychological level as it was dispensing a few bearish signs beneath the $7,400 resistance zone versus the U.S. Dollar. The BTC/USD is currently failing, and it could prolong its inclination towards $7,100 or $6,800.  The BTC/USD is fighting to break above the next resistance level of $7,400 and $7,500 versus the U.S. Dollar. The bears are gradually taking control, and they are anticipated to target $7,000. There was a breach beneath a significant bullish trend line with support around $7,300 on the hourly chart of the BTC/USD pair. The BTC/USD pair could improve distinctly towards the $7,100 support or $6,800. Roughly 4-weeks ago, the global equities markets were in trouble as traders eventually recognized that the coronavirus was not just an illness limited to China, but rather a worldwide pandemic which could lastingly damage markets over the globe.  BTC/USD – Daily Technical Levels Support Resistance  7,177         7,405 7,039     

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Daily F.X. Analysis, April 09 – Busy Day, GDP & Labor Market Reports In Focus!  

A day before, the greenback remained firmed as confidence that the coronavirus crisis was reducing has faded, boosting traders’ anxieties over the economic influence of the pandemic. The single currency euro amongst was the primary loser versus the U.S. dollar. Yesterday, the EUR/USD dropped after the greenback suffered its worst slide versus a basket of currencies in almost two weeks. Today, eyes will be on the series of high impact events from the U.K., U.S., and Canada.  Economic Calendar       BTC/USD – Daily Analysis The leading cryptocurrency BTC/USD is dispensing a few bearish signs beneath the $7,400 resistance zone versus the U.S. Dollar. The BTC/USD is currently failing, and it could prolong its inclination towards $7,100 or $6,800.  The BTC/USD is fighting to break above the next resistance level of $7,400 and $7,500 versus the U.S. Dollar. The bears are gradually taking control, and they are anticipated to target $7,000. There was a breach beneath a significant bullish trend line with support around $7,300 on the hourly chart of the BTC/USD pair. The BTC/USD pair could improve distinctly towards the $7,100 support or $6,800. Roughly 4-weeks ago, the global equities markets were in trouble as traders eventually recognized that the coronavirus was not just an illness limited to China, but rather a worldwide pandemic which could lastingly damage markets over the globe.  BTC/USD – Daily Technical Levels Support Resistance  7,221        7,430 7,113        7,531 6,904       7,740 Pivot Point 7322.09 BTC/USD – Daily

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Daily F.X. Analysis, April 08 – Mixed Risk Sentiments FOMC Meeting Minutes

On Wednesday, the U.S. dollar found a footing as traders reacted to safe-havens, reclining some risk currency gains produced on concerns the coronavirus crisis in Europe and New York was reducing. The greenback extended versus most of the major’s currencies besides the Japanese yen, a day after experiencing its severest decline versus a basket of forex currencies. The safe-haven surge was sparse but picked speed in early Asian trading, especially after the bullish rally in Asian stock markets lost steam and bonds, and gold prices improved. Economic Calendar       BTC/USD – Daily Analysis The BTC/USD recovers the chances of bullish recovery to $8,000 ere May 2020 halving. The Bitcoin is following a bullish bias, with immediate to be found at $7,400 and $7,500, respectively. A day before, the BTC/USD prices slipped to test the support level around 7,060, but the closings of candles above this support level may drive bullish bias for the Bitcoin today.  The BTC/USD bulls are indeed in power to lead a breakout not only over $7,000 but also $7,400. Improvement from the $6,000 area has taken a long time with various limits at $6,400, $6,800 and $7,000 being in the way. Nevertheless, BTC/USD is now consolidating at $7,365.  Intraday metrics confirm the price having scored nearly 2% on its value on the day after having a retracement over $7,201. The primary goal for the buyers is to push for profits over $7,400. This could improve the investor’s confidence in the recovery, and targeting $8,000 resistance

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Daily F.X. Analysis, April 07 – Dollar Weakens, Risk-off Sentiment Continues to Play! 

On Tuesday, the greenback slipped versus the yen as underlying worries over the economic shock wrought by the coronavirus pressure held many traders on edge. The Britsih Pound clawed back some recent declines versus the U.S. dollar. Still, sentiment for sterling continues to be fragile following British Prime Minister Boris Johnson was transferred to intensive care following his coronavirus signs worsened. While the Japanese yen strengthened after the Japanese Prime Minister Shinzo Abe reveals a massive fiscal incentive worth about $1 trillion to compensate for the economic influence of the pandemic. Overall, the financial markets are trading with risk-off sentiments, keeping the dollar weaker and bullion stronger. Economic Calendar       BTC/USD – Daily Analysis The BTC/USD concluded the week higher about 15.4% at $6,775 and has begun the day with an additional 6% movement to the upside, violating the $7,000 resistance and soaring highs towards $7,300 level.  Comparing the Bitcoin performance relative to its rivals, Ether (ETH) and EOS have placed massive gains of over 16% during the past 24 hours. Consequently, the BTC/USD dominance is down 1.5% at 65%. Roughly 4-weeks ago, the global equities markets were in trouble as traders eventually recognized that the coronavirus was not just an illness limited to China, but rather a worldwide pandemic which could lastingly damage markets over the globe.  Crypto exchanges were not safeguarded from the destruction that drove the S&P 500 and Dow to exhibit some of the most significant losses since the 2008 global financial crisis, and traders

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Daily F.X. Analysis, April 06 – Dollar Weakens, Despite NFP Misses Forecasts! 

The dollar surged to a more than one-week high versus key competitors, making XAU/USD more expensive for traders holding foreign currencies. There are forecasts that the greenback is unlikely to stay solid, and underlying economic stipulations are getting worse. Therefore, the investors aren’t going to get sucked into the short cover on equities.  On the news front, the economic calendar isn’t expected to offer any market-moving event. However, the worse than expected NFP figures from Friday may continue to factor in by traders today. The dollar can stay weaker and may drive other currencies and gold higher. Economic Calendar        BTC/USD – Daily Analysis The BTC/USD is trading bullish, adding nearly 2%, and it is gaining bullish impulse against the U.S. Dollar. The BTC/USD is expected to grow 4%-5% if it breaks over the major $7,000 resistance area. The BTC/USD is bestowing a lot of concrete bullish signs over the $6,700 support versus the U.S. Dollar. The Bitcoin is surrounding the major $7,000 resistance and breach zone. Previously, the BTC/USD showed a bullish break over crossing a bearish trendline with immediate resistance at $6,800, which can be seen on the hourly chart of the BTC/USD pair.   The pair could show a dramatic bullish trend if there is a definite breach of the $7,000 resistance area. The BTC/USD is trading choppy within a narrow range of 6,853 – 6,694. Looking at the 4-hour chart, a downward breakout of 6,696 mark can direct to Bitcoin towards the next support level of

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Daily F.X. Analysis, April 03 – U.S. Nonfarm Payroll Under the Spotlight

On Friday, the U.S. dollar edged toward a 2% weekly rise supported by a bullish wave in the oil price and as investors sought shelter in the wake of worsening economic fallout from the coronavirus pandemic. Later today, the greenback moves will continue to play a significant role, as attention shifts to the Euro area Final Services PMI report. At the same time, the US Non-Farm Payrolls and ISM Non-Manufacturing PMI data are scheduled to release later this Friday. The coronavirus related headline could also drag attention.  Economic Calendar       BTC/USD – Daily Analysis The BTC/USD has entirely recovered from $5,200 to $7,200 in the preceding two weeks, despite the declining desire for high-risk assets, which also covers single-stocks and cryptocurrencies.   Due to a meaningful selloff in the U.S. stock exchange and the worsening Coronavirus pandemic that has since tidied beyond the U.S. and Europe, the price of BTC/USD over continued its downtrend. It declined to $3,600 on crypto exchanges.  The truth that bulls quickly walked in to buy the low and drove the price from $3,600 to $5,200. The BTC/USD price is expected to rally to $8,500 over the short term. Later yesterday, the leading crypto pair BTC/USD seems to have violated the double top resistance level of 6,525, and closing of these candles over this level are suggesting chances of further buying in the Bitcoin pair.  BTC/USD – Daily Technical Levels Support Resistance  6,518        7,190 6,219        7,563 5,846       

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Daily F.X. Analysis, April 02 – U.S. & Eurozone’s Unemployment Claims In Focus! 

On Thursday, the U.S. dollar is getting stronger day by day due to coronavirus outbreak. The coronavirus cases are not showing any sign of slowing down, somewhat increased fears of a global economic recession.  At the data front, the U.S. initial jobless claims data, which is scheduled to release at 12:30 GMT, is anticipated to report the number of people filing first-time claims for state unemployment insurance of over 4.45 million in the week ended March 27 against preceding week’s figure of 3.283 million as per the forecasted report.  Economic Calendar       BTC/USD – Daily Analysis The BTC/USD seems to have violated the double top resistance level of 6,525, and closing of these candles over this level is suggesting chances of further buying in the Bitcoin pair. The BTC/USD price levels up to the $6,500 but lack bullish momentum to maintain profits towards the next resistance level of $7,000.  Most of the technical indicators follow in support of the bulls who look forth to a growing triangle breakout to $8,000 mark. The BTC/USD price bearish action over the weekend covered the substantial support at $5,800, averting potential losses to $5,000.  On Monday overcame several resistance levels, including $6,200 and $6,400. BTC/USD also stepped above the key $6,500 zone but formed an intraday high at $6,525. The largest cryptocurrency has adjusted downwards to trade at $6,442. Intriguingly, the trend remains strongly bullish, but the volatility is low due to reduced trading volume. BTC/USD – Daily Technical Levels Support Resistance  6,110 

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