EUR/USD is trading in the mid 1.1300s, down on the day. ECB President Draghi said the balancing of risks is tilting to the downside, sending the pair down.
GBP/USD is trading below 1.2650, off the highs. EU Leaders reject a renegotiation of Brexit in the Summit, undermining May's efforts. The USD is gaining some strength.
If Brussels does not bend on the backstop May will lose the Democratic Unionists of Northern Ireland and eventually a confidence vote in Parliament. A general election opens the door to months of turmoil.
Extreme pessimism is the antagonist of the blind euphoria we saw exactly a year ago. This melancholy crushes the psyche of the HOLDers, but should not do so in the minds of traders. For a trader, the direction of the market must be secondary.
The weekend is approaching without significant changes among the main protagonists of the Crypto board. I am reviewing the dominant emotional state in social networks and pessimism rules. The gloom sets an optimal atmosphere for a change in the direction of the market.
Ripple-based transfers to launch in UAE: XRP/USD weak bullish trend could head higher- Confluence detector
A large remittance in the United Arab Emirates (UAE) is currently developing a system using the Ripple network that will see the region have access to blockchain-based payments to the Asian region.
The new Opera Android web browser “Web 3-ready” has been released and packs a built in digital asset. The browser has been available to the users in a beta version. It currently has support for Ethereum wallet alongside other ERC-20 based tokens.
The scientific research backed crypto, Cardano has announced the release of two smart contracts tools. The tools have been developed by one of the leading blockchain research organization, IOHK.
Slow economic growth still the main drag for the common currency
The EUR/USD pair seesawed between gains and losses throughout the week, finishing it up around the 1.1400 level. For a sixth consecutive week, the pair has been unable to find a certain direction, trapped between a more dovish Fed and slowing growth and political turmoil in the EU.
EUR/USD is trading in the same old range as tension mounts towards the all-important ECB decision. Will Draghi drag down the Euro or will he prop it up?
The Technical Confluences Indicator shows that euro/dollar enjoys robust support at around 1.1364 where we see a dense cluster including the Simple Moving Average100-4h, the SMA 10-one-day, the Fibonacci 38.2% one-day, the SMA 200-1h, the SMA 5-4h, the SMA 50-4h, the Bollinger Band 15-minutes Lower, and the BB one-day Middle.
Further support is close by, at 1.1340 where we see the Fibonacci 61.8% one-day, the SMA 10-4h, and the Bollinger Band 1h-Lower all converge.
Looking up, the road to 1.1400 is dotted with quite a few levels of resistance including yesterday's high, the Fibonacci 38.2% one-month, the Fibonacci 38.2% one-week, and the Fibonacci 23.6% one-week. However, these caps are scattered out and not as potent as the support levels.