Murrey Math Lines: EURUSD, GBPUSD
EUR/USD: Euro extends its losses amid higher US yields
The EUR/USD is trading around $1.2230, as the US Dollar gains more ground across the board. US 10-year yields are touching 3% and the greenback follows. This is driven by optimism about the US economy and upbeat Fed comments.
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GBP/USD: Sterling dips below $1.4000 as US yields extend gains
The GBP/USD is trading below the round level of $1.4000, the lowest in two weeks. The primary driver is the US Dollar, which enjoys higher yields. The 10-year benchmark nears 3%. Last week, Sterling suffered from a streak of weak data.
USD/JPY: Dollar tops ¥108.00 as US 10-year yields reach for 3%
The USD/JPY extends its gains and tops the round number of ¥108.00. The pair extends its gains and the main driver is the rise in US yields. The 10-year benchmark is almost at 3%, a level closely watched by many.
AUD/USD falls to the lowest in four months on USD strength
The AUD/USD is trading around A$0.7640, the lowest since December 19th. The US Dollar is riding higher alongside high US yields. The 10-year benchmark is almost at 3%.
Bitcoin price analysis: BTC/USD creeping to $9,000 ahead of European opening despite aggressive rhetoric from FED governor
The current San Francisco Fed President and the nominee to the post of New York Federal Reserve governor John Williams believes that Bitcoin is useless as a currency, echoing the position of FED governors and regulators all over the world.
Ethereum price analysis: ETH/USD up over 3%; forming inverse head-and-shoulder pattern while consolidations expected above $630
The bulls have been exploring new highs in April following the bullish trend across the crypto market. Ethereum price has started the week’s trading on Monday 23 on an upside roll that has seen it test the $650 resistance level.
The relation between the blockchain technology and crypto-assets
The digital age is changing the human behaviour. The way people and businesses communicate, exchange goods and services and make payments is changing drastically and it appears that the blockchain technology offers an increasingly adopted basis.
NEO price analysis: NEO/USD capped by $80.00; bias remains bullish
Believe it or not, but NEO has returned to the levels where it started the year. NEO/USD tested 79.72 on Saturday against January 1 opening level of $74.98. The coin bottomed out at $44.15 on April 6.
The Bank of England Monetary Policy Committee member Michael Saunders refrained from direct policy indications but remained hawkish on the outlook for inflation naming domestic factors stemming from the labor market to drive inflation higher long-term.
Comments from the ECB President Mario Draghi and the Bundesbank President Jens Weidmann indicate that both top ECB officials expect some deceleration in economic conditions in the Eurozone, but remain positive on growth outlook indicating the cautious approach to any changes at the upcoming ECB meeting.
The Eurozone manufacturing and services PMIs are expected to decelerate further in April after the cluster of risk event to global trade and geopolitics hints the sentiment.
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EUR/USD at risk of falling to 1.2100
Another week ends with the EUR/USD pair unable to abandon its comfort zone around the 1.2300 figure. Indeed, intraday trading was a bit more entertained, and some nervous back and forth suggest that it won't be long until a decision is made.
The Technical Confluences Indicator that the recent fall of the EUR/USD was powerful as it breached a critical cluster of support lines at $1.2360. This opens the door to dropping to much lower levels as support lines are few and far between.
The $1.2360 region is the congestion of the Simple Moving Average 50-1h, the SMA200-15m, the Fibonacci 23.6% one-week, the Fibonacci 38.2% one-month, the Bolinger Band 15m-Upper (Stdv. 2.2), the Fibo 38.2% one-day, the SMA10-4h, and the SMA5 one day.
