With the weekend trade/political headlines infuriating the global risk watchers, the USD/CAD pair remains below the key simple moving average (SMA) while taking rounds to 1.3260 at the start of Monday’s Asian trading session.
Fresh risk-off flows resulted in the USD/JPY pair trimming weekly gains on Friday, ending the week at 107.55. The pair barely holding above a critical Fibonacci support at 107.45. Japan’s National inflation steady at lows in August.
Top 3 price prediction Bitcoin, Ripple, Ethereum: Ethereum points to the Moon as Bitcoin takes a break
ETH/USD exceeds $220 and is bidding to lead the market. Bitcoin sets a bear trap and recaptures $10,000. XRP stalls between technical levels and fails to consolidate $0.30.
Gold edged higher for the second consecutive session on Friday, albeit remained well within a familiar trading range held over the past two weeks or so.
Bitcoin (BTC/USD), the most dominantly traded cryptocurrency, is seen attempting minor recoveries on the 9900 handle, having extended the recent declines to 9,850.65, in the wake of a symmetrical triangle breakdown on the hourly sticks seen on Saturday.
The world’s no. 1 digital coin, Bitcoin, is seen driving the broader market. However, the third most traded cryptocurrency, Ripple, fails to benefit, as it continues to lose nearly 4% so far this Sunday.
Bitcoin Cash (BCH/USD) breached Thursday’s low of 302.41 but managed to hold the 302 handle before staging a comeback. Despite the latest recovery attempt, the price is down 3% in the last 24 hours.
IOTA (IOT/USD), the 17th largest cryptocurrency, risks further downside in the near-term amid bearish technical setups on different time frames.
Top-tier euro-zone surveys and trade developments stand out on the agenda
Markets may never be satisfied with central banks – as the Federal Reserve failed to convince markets – just like the European Central Bank. For EUR/USD, the result is a standstill. The last full week of the third quarter features new forward-looking data in Europe, trade developments in the US, and also other events.
EUR/USD has been remarkably stable amid the Federal Reserve's rate cut and drama in oil markets. How is it positioned as the week draws to a close?
The Technical Confluences Indicator is showing that EUR/USD has support at 1.1045, which is the convergence of the Fibonacci 38.2% one-week, the Fibonacci 61.8% one-day, the Simple Moving Average 100-1h, the SMA 200-1h, the Bollinger Band 4h-Middle, and the BB one-day Middle.
If it falls below this level, the world's most popular currency pair has only weak support. The next noteworthy level is 1.0965, which is the confluence of the BB 1d-Lower, the Pivot Point one-week Support 1, and the PP 1d-S3.
Looking up, fierce resistance awaits at 1.1074. The dense cluster includes the BB 1h-Upper, the PP 1d-R1, the Fibonacci 38.2% one-month, the previous daily high, and the Fibonacci 23.6% one-week.