EUR/USD Forecast: Could slide back to retest 100-DMA, focus shifts to FOMC meeting
Forex Today: Markets gearing up for another FOMC showing
Forex today saw a quick whip in the charts across the board as risk appetite churned briefly, and the US Dollar saw a mild uptick against the major G10 currencies as traders jostle for position ahead of the US Fed's two-day meeting and subsequent rate call this week.
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Crypto market overview: Bulls take profits home, bears get their guns ready
Bitcoin slipped below $6,500 handle to trade at $6,410 by press time. The digital coin No. 1 has lost nearly 4% on a day-to-day basis and 2.2% since the beginning of Tuesday. Obviously, the bearish momentum is gaining traction as BTC/USD moves quickly towards the next critical support at $6,400.
BTCUSD Analysis: After the triangle [Video]
![BTCUSD Analysis: After the triangle [Video]](https://editorial.azureedge.net/images/Markets/Currencies/Digital%20Currencies/Bitcoin/bitcoins-36855764_Small.jpg)
Despite recovery attempts, the downtrend remains firmly intact, with a fresh lower top sought out below $8,500, to be confirmed on a bearish continuation below the 2018 low. Only a break back above $8,500 would negate. The market has also seen a range contraction in 2018 that now points to an imminent surge in volatility.
Bitcoin Cash Technical Analysis: BCH/USD produces double top formation, breaks neckline and sees retest
Bitcoin Cash price bled on Monday dropping over 3.5%, inline with the pressure to the downside seen across the market. BCH/USD completed a double top pattern formation, breaking the neckline and most recently seeing a retest underneath
Litecoin Technical Analysis: LTC/USD bulls drop out from the sky, luckily they have a parachute
Litecoin price suffered on Monday dropping as much as 5%, inline with a cooling seen across the board. LTC/USD breached a near-term supporting trend line, seeing sellers quickly jump. Further free-fall was prevented by demand zone within $57 territory.
A Fed's hike is priced in, hints on December's action will be critical
The EUR/USD pair advanced for a second consecutive week, hit its highest since mid-June at 1.1802 as the American dollar suffered all through the week, but entered sell-off mode Thursday, as resurgent risk-appetite played against the greenback, as the escalation of the trade war with tit-for-tat tariffs, was not as feared.
The GBP/USD is licking its wounds after UK PM May sent it lower on Friday and as reports of a snap election are a concern. Where can cable fall to?
The Technical Confluences Indicator shows that the GBP/USD is struggling around 1.3075 which is a dense congestion of levels including the Simple Moving Average 5-4h, the SMA 10-15m, the SMA 50-15m, the Bolinger Band 15m-Middle, and the BB 15m-Lower among others.
Looking down, the pair has some support around 1.3028 where we see the BB-4h, the SMA 100-4h, the BB one-day Middle, and more. However, this is a weak support line.
Stronger support awaits at 1.2988 which is the confluence of the SMA 50-one-day, the Pivot Point one-day Support 1, and the PP one-week Support 1.
On the upside, we see some resistance at 1.3110 which is the Fibonacci 23.6% one-day.
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