The Pound found support on headlines indicating that the EU is willing to offer the UK a wide-customs arrangement. GBP/USD firms above 1.3000, dominating risk aversion preventing it from advancing further.
The US Dollar is trading down 0.4% at around 112.30 against the Japanese Yen after the massive sell-off on the Asian equities spurred Risk-off market sentiment benefiting Yen that is seen as a safe haven currency.
European equity markets remained under some intense selling pressure on Tuesday and fell to their lowest level in nearly two years.
The controversy has not affected Bitcoin at all, which has been in the same range for weeks, but it has punished and much the perception of reliability about Tether. A controversy that has grown at the same time that other options appeared in the market with the aim of sharing a very appetizing business exchange.
The local support zone lies with $6,350. This area stopped the downside on Friday and may serve as a good jump-off-place for recovery this time.
Monero (XMR) is growing strongly during late Asian hours. The coin jumped over 5% and touched $11.70 in a matter of hours before retracing to$109.76 by the time of writing. The coin is the biggest mover of the day amid otherwise quiet cryptocurrency market.
The countries should establish clear and coordinated regulatory guidelines for the cryptocurrency industry, according to Jeremy Allaire, the CEO of Circle, the startup backed by Goldman Sachs.
The EU survived Grexit and Brexit, but the whole project will collapse if Italy leaves
The EUR/USD pair gave back its previous weekly gains and retested the October low, settling below the 1.1500 level this week. The common currency is out of market's favor, unable to enter bullish territory, even in a dollar-weak environment.
Most major currency pairs are in the same predicament: there is much more to digest going against the USD than in its favor. Note the movement would neutralise part of last week's U.S. equity losses for the international investor.
The EUR/USD could pivot to the upside into an eventual new up leg only after taking out a consequential resistance-cluster lodged between 1.1525 and 1.1540, and shortly thereafter breaking the pivot point's R1, in order to trigger an upside projections to 1.1760. On the downside though, isolated technical barriers are looking more like targets than solid levels of support. Pivot point's S1 around 1.1450, the weekly pivot S1 around 1.1425, and a few more you can check on the Technical Confluences Indicator do not look as if they could contain any serious drop.
A slowly rising tide does not float all boats equally, so USD breakouts could have started with the CAD, AUD and GBP around the weekend, while JPY and CHF are still nipping at the USD's ankles in terms of performance.
NEXT LIVE SHOWS
|Date||Event Title||Sponsor||More Info|
|Premium||Trend Continuation Patterns: How to Enter Trends Naked Walter Peters||Event Details|
|Premium||Educational Session: Learn with Sam Seiden Sam Seiden||Event Details|
|Premium||US Pre-Market Open Ed Ponsi||Event Details|
|Premium||US Session Open Ed Ponsi||Event Details|