The EUR/USD pair continues trading in a well-defined range not far from the 1.1700 level but still unable to make a decisive bullish breakout. Risk aversion coming from Brexit, Wall Street soars anyway.
EU's Junker words have hurt just modestly the Pound, with the GBP/USD pair retreating modestly, more on absent interest in the greenback rather than anything else.
This time the history we are forgetting is trade war history. Every economist worth his salt has published essays explaining why trade wars are bad and nobody actually “wins.” The Trump trade war with China will raise prices for...
US President Donald Trump announced new tariffs on China for $200 billion worth of goods. They will come into effect on September 24th. China has announced its retaliation plan. Previous duties were on only $50 billion of products, and the move impacts a significant chunk of global trade.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos change leadership positions and march forward
The BTC/USD is currently traded at the price level of $6,350. It continues to range between $6,200 and $6,560. These are the two levels to watch out for as the exit, in whatever direction, is likely to be violent. Above the current price, the BTC/USD has a clear objective already stated in the previous paragraph.
Tron is currently reacting to a double-top pattern following the upside movement that started on Tuesday. The market kick-started the week’s trading with bear movements led by Bitcoin (BTC) which dropped from changing hands above $6,500 to $6,200.
Ethereum is battling to maintain the gains it accrued during the afternoon trading session yesterday. The price recently recovered from the declines that had it trade below $170 early last week. The recoil towards the end of the week and over the weekend resulted in a nice move past the resistance at $200 and $220.
Litecoin, the 7th largest digital asset with a market value of $3.1B, is changing hands at $53.6 with 3.5% gains on a daily basis. The coin's average daily trading volumes are set at $256M, which is in line with the longer-term average.
US data and trade war headlines conspired against the common currency these days
The EUR/USD pair surged to a fresh September high, 1.1721, retreating from the level but anyway closing the week with solid gains. A bout of risk appetite sent the greenback lower, on hopes the EU and the US could resume trade talks before the US launches the next round of tariffs, boosting equities to fresh multi-month highs.
The EUR/USD is holding onto high ground, unfazed by the US announcement to impose 10% tariffs on $200 billion of Chinese goods. The technical picture remains favorable for the pair.
The Technical Confluences Indicator shows that the pair has robust support at 1.1680, which is the convergence of the Simple Moving Average 100-15m, the SMA 100-one-day, and the Fibonacci 23.6% one-week.
Close by, 1.1648 is the confluence of the SMA 5-one-day, the Fibonacci 38.2% one-week, the Fibonacci 61.8% one-day, and the SMA 100-one-hour.
Looking up, resistance lines are weaker. We see an initial soft cap at 1.1721 which is the meeting point of the Pivot Point one-day REsistance 1 and the Bolinger Band one-day Upper.