Cryptocurrencies have suffered a blow with Bitcoin dropping temporarily below $500. All top three digital coins need to cling onto support lines in order to consolidate and resume the rally. Here are the levels to watch according to the Confluence Detector. After finding at least seven reasons for the surge, cryptocurrencies consolidated on higher ground and … “Cryptos must consolidate above these levels to move forward”
Category: Opinions
EUR/USD could fall even further on Draghi’s dovishness
The ECB left all its policies unchanged, including guidance. Draghi’s warning about downside risks weighs on EUR/USD. The ECB pressures EUR/USD, and more may be in store. The European Central Bank left its interest rates unchanged, including the deposit rate, which will not be “tiered” anytime soon, according to President Mario Draghi. They also left … “EUR/USD could fall even further on Draghi’s dovishness”
3 scenarios for the critical EU Brexit Summit
EU Leaders convene in a special summit to decide on Brexit. There are three very different options on the table. European Council President Donald Tusk called an extraordinary leaders summit with only one topic on the agenda: Brexit. The ministers will convene on Wednesday, April 10th, from 16:00 GMT. They will meet two days before the … “3 scenarios for the critical EU Brexit Summit”
Can the USD/JPY rally continue? The Fed has the keys
USD/JPY enjoyed a rally thanks to a calmer market mood. The FOMC minutes, inflation, and consumer sentiment stand out. The technical picture has become bullish for the pair but experts are bearish beyond the short term. This was the week: Lots of data, not pointing in one direction It was a busy week of US … “Can the USD/JPY rally continue? The Fed has the keys”
GBP/USD at the mercy of the EU Summit on Brexit
GBP/USD struggled on the neverending Brexit saga. The special EU Summit on Brexit is left, right, and center. The technical is marginally bearish. Experts are bullish on all timeframes. This was the week: Breaking the logjam It was another turbulent week in the Brexit saga. After Parliament failed to approve the Brexit deal for the … “GBP/USD at the mercy of the EU Summit on Brexit”
NFP is good enough for the dollar, not only for stocks
The US economy returned to normal job growth and lower wage growth. The “Goldilocks” report may be gold for the US Dollar. The US gained a net of 196K jobs in March. This is a return to normal levels after a dismal number in February (33K after an upwards revision) and superb numbers beforehand. The return … “NFP is good enough for the dollar, not only for stocks”
USD/CAD: The Canadian jobs report has room to lift CAD
After a winning streak of Canadian jobs reports, expectations are low this time. Alongside the risk-on atmosphere, the Canadian Dollar has room to rise. The US Non-Farm Payrolls could complicate the price action. Canada publishes its labor market report for March on April 5th, at 12:30 GMT. The nation enjoyed a winning streak of surprisingly strong … “USD/CAD: The Canadian jobs report has room to lift CAD”
7 reasons for the crypto surge and why it can continue
Cryptocurrencies have surged and held onto most of their gains. There are seven reasons behind the move that caught some by surprise. There are good reasons to believe the rally will continue. Bitcoin has not seen the $5,000 mark since November 2018, and now it happened. Ethereum also enjoyed a rally and even Ripple eventually advanced. The leap initially seemed … “7 reasons for the crypto surge and why it can continue”
Brexit begins biting and GBP/USD may suffer – UK Services PMI analysis
UK Services PMI entered contraction territory for the first time since 2016. It implies Brexit is already biting the real economy. GBP/USD is focused on Brexit headlines rather than the economy, but this could hurt. Markit’s forward-looking Services Purchasing Managers’ Index for March plunged to 48.9 points, below the 50-point threshold that separates growth and … “Brexit begins biting and GBP/USD may suffer – UK Services PMI analysis”
7 reasons for the cryto rally and where Bitcoin could go next
Cryptocurrencies have surged and held onto most of their gains. There are seven reasons behind the move that caught some by surprise. There are good reasons to believe the rally will continue. Bitcoin has not seen the $5,000 mark since November 2018, and now it happened. Ethereum also enjoyed a rally and even Rippleeventually advanced. The leap initially seemed … “7 reasons for the cryto rally and where Bitcoin could go next”