AUD/USD battles key hurdle to 0.7100 at fortnight high, focus on PBOC

AUD/USD battles key hurdle to 0.7100 at fortnight high, focus on PBOC

AUD/USD struggles for clear directions around mid-0.7000s, after refreshing a two-week high the previous day. That said, the Aussie pair pares the biggest daily gains in a week inside a 30-pip trading range, holding lower grounds near 0.7250.

AUD/USD News

EUR/USD retreats from seven-week-old resistance below 1.0600

EUR/USD retreats from seven-week-old resistance below 1.0600

EUR/USD eases from a two-week high as a short-term key hurdle defends sellers around 1.0580 during Friday’s Asian session. The major currency pair rallied the most since early March the previous day while refreshing the fortnight high.

EUR/USD News

Gold oscillates around $1,840 as DXY tumbles, risk-off impulse favors

Gold oscillates around $1,840 as DXY tumbles, risk-off impulse favors

Gold price (XAU/USD) is consolidating below $1,850.00 in a minor range of $1,840.02-1,844.08 in the early Asian session. The precious metal has delivered a perpendicular upside move on Thursday from a low near $1,800.00.

Gold News

Bitcoin price congestion warns of a 25% breakout

Bitcoin price congestion warns of a 25% breakout

Bitcoin price sideways action signals smart money involvement. A jaw-dropping rally could occur in the very near future. Bitcoin price action is currently distorting severely compared to the previous consolidations within the decline.

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Markets are awfully slow to recognize a serious problem

Markets are awfully slow to recognize a serious problem

The elephant in the room is the S&P down over 4% in the worst rout since June 2020, just when everyone got the message the Covid pandemic was a Big Deal and worthy of the panic that had started a few months before.

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DEEPER DIVE

Dollar weakness stands on two vulnerable legs, Fed fear set to trigger greenback comeback Premium

Dollar weakness stands on two vulnerable legs, Fed fear set to trigger greenback comeback

Shanghai's "freedom day" and JP Morgan's optimism have sparked a relief rally, adverse for the dollar. US data and tough Fed talk on inflation could trigger fresh demand for the greenback. 

Where is the bottom for EUR/USD and GBP/USD? Four factors traders need to consider Premium

Where is the bottom for EUR/USD and GBP/USD? Four factors traders need to consider

EUR/USD and GBP/USD are set to extend their declines – and for good reasons. Where is the bottom? The low point for these currency pairs heavily depends on the Fed and the main question is: when will the dollar reach a top?

Three oversold cryptos that could double your portfolio

Three oversold cryptos that could double your portfolio

A brief technical and on-chain analysis on a few cryptos. Which are the massively oversold coins at this moment? How you could benefit from the crypto bloodbath? Here, FXStreet’s analysts evaluate where some of the hottest cryptos on the market could go next.

FXS Signals

Technical Confluences Detector

Anil Panchal

Gold Price treads water for the second consecutive day, taking rounds to $1,815, as market sentiment dwindles amid a lack of major data/events and mixed signals. The precious metal faced rejection at $1,836 earlier in the week but buyers returned from $1,807 to nullify the moves, portraying lackluster moves of late.

Gold Price: Key levels to watch

The Technical Confluences Detector shows that the Gold Price stays between the $35 range above $1,800, nearing multiple resistances starting from $1,817 that encompasses the SMA5 four-hour, Fibonacci 23.6% one-week and one-day.

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CRYPTOCURRENCIES

Bitcoin price congestion warns of a 25% breakout

Bitcoin price congestion warns of a 25% breakout

Bitcoin price sideways action signals smart money involvement. A jaw-dropping rally could occur in the very near future. Bitcoin price action is currently distorting severely compared to the previous consolidations within the decline.

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Cardano price is still on pace to retest $0.40, but bears shouldn't get too excited

Cardano price is still on pace to retest $0.40, but bears shouldn't get too excited

Cardano price is preparing for a retest of $0.40 before a massive countertrend rally occurs. Cardano price is on professional traders' urgent watchlist as the digital asset could enter a mid-term bottom in the $0.45 zone.

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Why XRP, Cardano, Solana and Dogecoin could be about to flash crash

Why XRP, Cardano, Solana and Dogecoin could be about to flash crash

Data for a recent report by Bybit revealed high transaction activity on Ethereum-killer Solana. However, analysts argue this could indicate an upcoming decline in altcoin prices. XRP, Cardano, Solana and Dogecoin could soon witness a 90% collapse. 

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Shiba Inu price displays bullish exhaustion as bears aim for $0.00000800

Shiba Inu price displays bullish exhaustion as bears aim for $0.00000800

Shiba Inu price warrants the idea of further sell-off as the bulls are failing to retaliate against the bearish strong hold. Shiba Inu price lack of bullish momentum spells for another decline expected to happen in the very near future.

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THE STOCK OF THE DAY

Why was TSLA kicked out of S&P 500 ESG Index?

Why was TSLA kicked out of S&P 500 ESG Index?

Tesla found itself at the center of attention on Wednesday for all the wrong reasons. The stock suffered several analyst downgrades, and Tesla also found itself booted out of the S&P 500 ESG Index. ESG stands for environmental, social and governance – an attribute given to certain stocks that demonstrate certain ethical standards besides only the bottom line.

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WEEKLY FORECAST

EUR/USD: How far can the dollar go? Premium

EUR/USD: How far can the dollar go?

The EUR/USD pair finally left its consolidative phase, breaking lower and falling to a multi-year low of 1.0348. It closed the week a handful of pips above the level, with sellers now adding shorts on spikes beyond the 1.0400 figure.

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GBP/USD: A temporary bottom in place? Premium

GBP/USD: A temporary bottom in place?

The pound battering continued for the fourth straight week, as bears refused to give up. GBP/USD lost more than 200 pips to hit a new two-year low at 1.2157, breaking through several critical support levels. 

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USD/JPY: Volatile consolidation is not an oxymoron Premium

USD/JPY: Volatile consolidation is not an oxymoron

The two-month run in the USD/JPY has stalled as falling Treasury yields undermined the pair’s most potent logic, while slowing growth in China, equity turmoil and the anticipated drag of Fed rate increases on the US economy brought a modest revival to the yen safety trade. 

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AUD/USD: Interim top confirmed, 0.7000 at risk Premium

AUD/USD: Interim top confirmed, 0.7000 at risk

The AUD/USD pair kept falling in the last few days, reaching a fresh multi-week low of 0.7263 on Friday, to close the trading week a handful of pips above it. 

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Bitcoin: Multiple scenarios arrive at the same bearish conclusion

Bitcoin: Multiple scenarios arrive at the same bearish conclusion

Bitcoin price shows interesting setups from multiple time frames that hint at a confluence. This convergence occurs for the short-term bullish outlook as well as the macro bearish scenario for BTC. 

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Gold: Looks to test $1,800 with sellers retaining control Premium

Gold: Looks to test $1,800 with sellers retaining control

Gold recovered after dropping below $1,800 on Friday but ended up losing more than 3% on a weekly basis, registering its second-largest one-week drop of the year. 

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