EUR/USD is trading around 1.1350, lower. Reports, later denied by China, about a US-Sino trade truce have failed to push the price higher. German inflation and US GDP are eyed later today.
GBP/USD is trading below 1.2700, little changed. Boris Johnson has committed to leaving the EU by the October deadline with or without a deal but said the chances of a no-deal are low.
Cryptocurrencies have finally corrected some of their massive gains – a natural phenomenos in all financial markets. The rally has been partially inspired by Facebook's entry into the blockchain world with its Libra project.
Gold is currently trading at $1,408 per Oz, representing a 2.1 percent drop from the six-year high of $1,439 reached earlier this week.
Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Technical levels cryptos must recapture to resume the bullish rally after correcting – Confluence Detector
Cryptocurrencies have finally corrected some of their massive gains – a natural phenomenos in all financial markets. The rally has been partially inspired by Facebook's entry into the blockchain world with its Libra project. Interest in Bitcoin and also other digital coins has soared and prices followed upwards as well
A long-time cryptocurrency-critic Nouriel Roubini has come out with another portion of hating comments about digital assets and everything that relates to them. This time the trigger came from BitMEX exchange.
Litecoin's recovery stalled on approach to a strong resistance has recovered from the recent lows. The initial support is created by 135.00 handle. Litecoin, now the 5th largest asset with the current market capitalization of $8.1 billion ...
Bitcoin (BTC) and all major altcoins are deep in red, nursing losses from 2% to 13% on a day-on-day basis. The total market capitalization collapsed to $350 billion from $365 billion registered during early Asian hours; an average daily trading volume decreased from $138 billion to $128 billion.
The US Federal Reserve paved the way for a rate cut, the dollar plunged
The EUR/USD pair has recovered the 1.1300 level at the end of the week, remaining below the previous two weekly highs in the 1.1340 price zone. The dollar's weakness was directly connected to the US Federal Reserve, as the central bank paved the way for a rate cut. What kept the EUR/USD pair within familiar levels is the fact that the ECB is also planning more stimulus for the next months.
EUR/USD has been consolidating its losses in the mid-1.1300s and is looking for a new direction. It now awaits critical inflation data from Germany and the final first-quarter GDP from the US. What's next?
The Technical Confluences Indicator shows EUR/USD faces robust resistance at around 1.1365 which is a dense cluster of technical lines including the Simple Moving Average 5-one-day, the SMA 5-15m, the Fibonacci 61.8% one-day, the Fibonacci 161.8% one-month, and more.
Further up, the world's most popular currency pair may stall at 1.1416 which is the convergence of the Pivot Point one-day Resistance 2, the PP 1m-R3, the BB one-day-Upper, and the BB 4h-Upper.
Looking down, somewhat weaker support awaits at 1.1349 which is the confluence of the previous daily low, the SMA 200-1d, the BB 1h-lower, and the BB 4h-lower.
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