Forex today cheered the risk-on market environment fuelled by the Trump’s comments on trade and Fed policy that boosted the odds of a trade deal between the US and China.
The EUR/USD pair may defend the support of the trendline connecting the Nov. 13 and Nov. 28 lows for the second day on the back of risk-on action in the equities.
Overall inflation in the United States is expected to drop to 2.2% annually in November from 2.5% in the previous month as the sharp decline in crude oilprices work their way into consumption and production.
Top 3 Price Prediction Bitcoin, Ripple, Ethereum: The Crypto universe accepts the rules of the market
Tense calm on the Crypto board in the face of permanent vision of the abyss. Constant changes are seen at the front of a market that loses strength quickly.
Bitcoin is sidelined marginally above $3,300 handle which serves as local support that separates the price from the recent low of $3,211. Bearish sentiments continue to dominate the market and shape the trend for the digital coin No.1 both on the spot and on the futures market. The Cboe Global Markets December contract finished Tuesday...
Currencies Direct Ltd a UK-based foreign exchange broker and international payment provider, are another organisation to utilize Ripple’s technology. They are set to open a new real-time cross-border remittance corridor to India, leveraging Ripple's xCurrent.
Bitcoin Cash price nursing deep losses on Tuesday, trading down over 6%. BCH/USD moving within a very steep descending channel to the south. Bears looking to really go in for the kill with the price below $100.
Ethereum price hard hit on Tuesday, nursing losses of just shy 3% towards latter stages of session. ETH/USD is moving within a bearish pennant structure, subject to an extended move south. Bears are currently flirting with lower support of the mentioned pennant pattern.
Slow economic growth still the main drag for the common currency
The EUR/USD pair seesawed between gains and losses throughout the week, finishing it up around the 1.1400 level. For a sixth consecutive week, the pair has been unable to find a certain direction, trapped between a more dovish Fed and slowing growth and political turmoil in the EU.
GBP/USD is taking a break from the big downfall that it suffered after UK PM Theresa May decided to postpone the vote on the Brexit deal. What's next? The higher volatility implies a broader range of movement.
The Technical Confluences Indicator shows that cable is capped by uptrend resistance at around 1.2589 where we see the convergence of the Pivot Point one-month Support 1, the Simple Moving Average 5-4h, the Bollinger Band 1h-Middle, and the BB 15m-Upper.
The next cap is significantly higher, at 1.2660 where we see the confluence of the Fibonacci 61.8% one-day, the Pivot Point one-month Support 1, the SMA 10-4h, and last week's low.
Looking down, the pair has some weak support at around 1.2506 which was yesterday's low.
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