The positive momentum of Wall Street gave the greenback some support at the end of the day, with the common currency among the weakest, despite increased demand for high yielding assets.
Trade war latest developments have hurt demand for the greenback, helping the GBP/USD pair to hold on to gains near 6-week highs. Critical 1.3170 resistance holding, for now.
Retail sales grew at its slowest pace in 6 months but the dollar rallied because policymakers said more tightening beyond September is needed. Even FOMC voter and Fed President Brainard suggested that the Fed could continue to raise rates beyond the long term neutral rate.
PM May is toughening her position ahead of key events. It may preempt a total surrender after the Conservative Party Conference in Birmingham. The GBP/USD may fall on the headlines now but could soar if things improve afterward.
Top 3 Bitcoin, Ethereum and Ripple Price Predictions: 3 scenarios for the Direxion ETF decision on September 21st
On July 24th, the US Securities and Exchange Commission announced a delay in the decision to approve or disapprove the Bitcoin ETF decision to September 21st. The decision was a disappointment from cryptos that had already suffered from a decision regarding A similar suggestion from VanEck.
Ripple is defying the selling pressure in the market to add over 13% of its value in less than half an hour. The fireworks are ongoing at the time of writing and it is likely that the crypto will break above $0.3050 in the short-term.
In a recent interview with Bloomberg, CoinList CEO, Andy Bromberg reckoned that the crypto market is going to be cyclical for a long while. In September alone, we have seen the market make both significant bullish and bearish swings.
Ethereum price analysis: ETH/USD revamps uptrend on hitting $190 support; declines ignore Bitfinex ‘Ethfinex’ launch
Ethereum is trading below $200 after canceling most of the gains accrued during the last one week. Prior to the gains upside movement that started in the mid-last week, Ethereum has had been at the forefront of the declines that saw the market descend to yearly lows at $189 billion.
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.
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