The EUR/USD pair recovered the 1.1600 figure and held by little above it all through the American session, as global trade war fears sent the greenback lower alongside with worldwide equities.
The hawkish surprise from BOE, with Andy Haldane becoming the third to vote for a hike, and the optimistic message about the economy backed a 150 pips advance in GBP/USD.
The USD/JPY pair pressures daily lows sub-110.00 as the yield on the benchmark 10-year Treasury note fell to 2.89% after peaking at 2.95% at the beginning of the day. Wall Street slump adds.
The AUD/USD pair heads into the Asian opening little changed daily basis at 0.7380, as despite broad dollar's weakness, plummeting equities undermine demand for the Aussie.
BTC/USD reached a strong resistance at $6,750, created by an upper line of Andrew's pitchfork. Breaking above this line, BTC will effectively threaten the bearish trend that has been developing since the beginning of May and eaten over 30% of its value.
Litecoin price analysis: LTC/USD battles to break barriers for higher consolidation; Charlie Lee bullish while on CNBC, “I have faith that prices will rebound”
Cryptocurrencies in the market have many barriers to break in order to make higher consolidations. Litecoin price has been stuck below $100, besides applying the Fibonacci retracement highlights several barriers to break before attacking the critical level at $100.00.
Ripple, the third largest coin by market value, is changing hands at $0.5360, off Wednesday's low at $0.5229, but still way below critical $0.5600. The coin is 1.3% higher than this time yesterday but mostly unchanged on the day.
Dash to launch state of the art DashCopay wallet app in the wake of AloGateway partnership: Dash price still range-bound
Dash is cryptocurrency that has been transforming outlook since its inception. It was launched in 2014 as XCoin but because of the privacy features it rebranded to Darkcoin but in it change again to Dash to allow it to be a global payment processing system.
The Bank of England is expected to leave the Bank rate unchanged at 0.50% with statement remaining dovish.
The US weekly jobless claims are expected to reach 220K.
Canada’s ADP employment report is expected to see 20K new jobs added in June.
The Bank of England Governor Mark Carney is set to deliver a Mansion-house dinner speech at 20:15 GMT.Read Full Report
A hawkish Fed and a dovish ECB made the EUR/USD pair collapse toward weekly lows
What a week! Things moved in slow motion until Thursday across the FX board, but intense headlines kept coming pretty much since the week started. The dollar refused to surge despite encouraging local data, as speculative interest wanted to asses all the first-tier events before making up their minds one way or the other.
The EUR/USD consolidated its previous losses and stabilized below 1.1600. What's next? Rising may be harder than falling.
The Technical Confluences Indicator shows that that the pair faces a dense cluster of resistance lines at 1.1580 which is the confluence of the Simple Moving Average 100-15m, the Fibonacci 61.8% one-day, the Simple Moving Average 50-15m, the SMA 200-15m, the SMA 5-4h, the SMA 50-1h, and the SMA 10-4h.
Should the pair break above this level, there are quite a few lines of resistance with the 1.1645 level standing out as the convergence of significant levels: the Fibonacci 161.8% one-day, the Fibonacci 23.6% one-month, and also the Pivot Point one-day Resistance 2.
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