Central banks and politics could cause turmoil, but no longer can spur growth. Growth is far worse than what the numbers show, recession at risk of materializing.
EUR/USD is trading in the mid-1.1300s, paring earlier gains amid some USD strength. China reported slower growth, as expected. The US, undergoing a government shutdown, is on holiday today.
GBP/USD is trading close to 1.2900, up on the day. UK PM May is speaking in Parliament and seeks support for a new Brexit deal. She said there is little support for a second referendum.
A quarter of the US government has been shuttered for a month and the economic impact is hard to discern. There has been no shortage of political warnings from the Democrats and the Republicans and the media has been full of the dire consequences if the closure continues.
SPECIAL YEARLY FORECAST
The European Union began 2018 in reasonable economic condition. Growth in the fourth quarter of 2017 had reached 2.8% annually, matching the best since the financial crisis.
A new week of analysis of the three main players of the crypto-board begins in a market that continues to drag near the disaster. The ETH/BTC pair, an instrument that allows us to follow the market mood, is playing dangerously with the bullish trend line, breaking it early in the day, in the middle of the Asian session.
Ethereum Technical Analysis: ETH/USD seeing a drop below the big psychological $100 mark remains possible
Ethereum price on Monday has found itself on the back foot again, nursing losses of around 0.5%. ETH/USD remains vulnerable to another wave of selling, a fall below the psychological $100 mark could be seen.
Ripple encounters the second worst selloffs of January 2019. XRP/USD likely to breakdown further than correct higher in this week’s trading.
This year 2019 is going to be an essential one for Bitcoin without no doubt. After more than ten months of continuous falls, the next twelve months will be dicisive for the long-term future of Bitcoin.
ECB monetary policy decision and Markit PMIs to take center stage this week
The EUR/USD pair aims to close the week to the downside but within familiar levels, hovering around the 1.1400 level, not far from a weekly low of 1.1366. The common currency took a dive after a German report showed that the country's growth was the slowest in 5 years in 2018, just 1.5% up.
EUR/USD is consolidating its losses from last week and trying to recover in the wake of the new week. However, it may hit bumps in the road sooner rather than later.
The Technical Confluences Indicator shows that the resistance awaits the pair at 1.1406 where we see the convergence of the Pivot Point one-day Resistance 1, the Simple Moving Average 100-1h, the Fibonacci 38.2% one-month, the Fibonacci 38.2% one-week, the Bollinger Band 1h-Upper, the SMA 200-4h, and more.
If it manages to climb above this level, the next cap is quite close. At 1.1441 we see the confluence of the Fibonacci 61.8% one-week, the SMA 100-4h, the BB one-day Middle, and the Fibonacci 23.6% one-month.
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