Sterling is trading up 0.4% at around mid 1.3200 after UK wages rose more than expected in three months to August while the unemployment rate remained stuck to a four-decade low of 4.0% in September. Earlier on Tuesday GBP/USD rose higher on comments from German minister who said that "It is clear we will get the Brexit deal but EU must be protected".
The Euro is trading little changed on the upside at around 1.1590 against the US Dollar after Italy approved the fiscally expansionary budget. German ZEW index of investors' confidence is expected to decelerate further in October, data are set to show later on Tuesday.
The big question is whether the meltdown in stocks changes the course for currencies because the US dollar had a great run this year and is vulnerable to a correction.
Bitcoin's exchange rate differs significantly on various trading platforms. Altcoins are moving to the North, ETH and XRP are among growth leaders. Tether sell-off triggered by Bitfinex issues that caused the exchange to temporarily stop fiat deposits led to a massive bullish assault on the cryptocurrency market on Monday.
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Litecoin Technical Analysis: LTC/USD bulls are gunning for a breakout and big moves above a descending wedge pattern
Litecoin price seen trading up with gains of over 3% in the latter part of Monday. LTC/USD price action is moving within a descending wedge pattern formation. Bulls are penetrating the upper resistance of the wedge, gunning for a big breakout higher.
Yesterday's day was a bit strange, where important climbs did not obtain technical rewards. Ripple has achieved it although it is, for now, a partial victory.
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The common currency retains the dubious honor of being among the weakest currencies across the FX board, as despite dollar's weakness ruled throughout the week, the EUR/USD pair ends it barely up in the 1.1550 region. The pair peaked at 1.1610 and bottomed at 1.1431, a fresh 7-week low, as Italian political woes dominated the pair at the beginning of the week.
Functioning as immediate resistance in the EUR/USD we find several short-term intra-day moving averages as well as the 50-day simple, descending below the 1.1600 handle. A few pips above, the weekly pivot point R1 resistance and the 100-period SMA pertaining to the 4-hour charts, followed by the upper Bollinger in the same time frame could act as a temporary barrier. Looming a few pips above -now in the vicinity of the .1620's- the 200-period SMA on 4-hour charts and the 100-daily SMA printing at 1.1630. If violated, daily R2 at .1647 is the last noteworthy resistance until the next big figure. On the way up, we find the daily R3, which is not clustered to any other indicator.
On the downside, as the Technical Confluences Indicator shows, the pair has to reckon with a few lower-chart technical measures, and it is not until below 1.1540 (down to 1.1525) were we can find a new cluster of levels: the 100- and 200-hour SMAs, among other indicators.
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