Euro is trading little changed on the downside around 1.1380 after the Eurozone GDP rose 0.4% over the quarter while industrial production fell 0.7% m/m in June and the emerging market turmoil fades away.
Bitcoin is trading down almost 4% just above $6,000 region as the wave of the Cryptocurrency selloff hit the market with most of the digital currencies down massively
Bitcoin is trading just above $6,000 after hitting a low of $5,900, the lowest since June 29th. Cryptocurrencies are extending their summer sell-off. Bitcoin has weathered the storm better than other digital coins, reaching a market dominance of over 50% for the first time in 2018.
Ethereum continued with the free fall yesterday breaking key support areas. However, before gasoline was added to the crypto, which was already on the path down to the valley, Ethereum price had been range-bound between $312 and $328 for a couple days in a row.
NEO recently announced NEO 3.0. In line with this, the head of Marketing and Community Operations, Caterina Zhang, spoke to AMBCrypto, a news website in the industry with regards to recent developments.
The latest topside failure keeps the downtrend firmly intact and puts the pressure back on the downside, with a fresh lower top sought out around $8,490, to be confirmed on a bearish continuation below the 2018 low. Only a break back above $10,000 would negate. In this analysis, we take a look at Bitcoin each day, highlighting all of the need to...
Turkish lira collapse spread like wildfire among high-yielding assets
The collapse of the Turkish Lira and ECB's concerns about local banks' exposure to it overshadowed everything else. The EUR/US pair plunged to 1.1431 early Friday, its lowest since July 2017, as multiple factors conspired to boost the greenback.
The EUR/USD is still trading on the low ground following the Turkish crisis. Has it found a bottom?
The Technical Confluences Indicator shows that the 1.1392 level is robust congestion of technical levels. This includes the 52-week low, last month's low, last week's low, the Fibonacci 61.8% one-day, the Simple Moving Average 10-4h, and the Bolinger Band one-hour low.
Further down, 1.1365 is the confluence of the Pivot Point one-month Support 3, the one-day low, and the Pivot Point one-day Support 1, but this is weaker support.
Looking up, 1.1445 could be the first target on recovery with the convergence of the Fibonacci 161.8% one-month, the Bolinger Band one-day Lower, and the Fibonacci 23.6% one-week.