Sterling is trading on the upside ahead of the UK retail sales report and the unofficial European summit on Brexit in Salzburg. Sterling rose to a fresh multi-week high after UK inflation rose above expectations in August, but...
Euro is trading on the upside while remaining trapped within the tight range at around key level as lack of fundamental data see German Bundesbank President Weidmann speaking as a major headline of Thursday.
This time the history we are forgetting is trade war history. Every economist worth his salt has published essays explaining why trade wars are bad and nobody actually “wins.” The Trump trade war with China will raise prices for...
US President Donald Trump announced new tariffs on China for $200 billion worth of goods. They will come into effect on September 24th. China has announced its retaliation plan. Previous duties were on only $50 billion of products, and the move impacts a significant chunk of global trade.
UK Treasury Committee claims Bitcoin too volatile, while BTC/USD hit a pause button after wild movements
Bitcoin has been snoozing in a tight range during Asian hours, capped by $6,400 on the upside and $6,370 on the downside. The market may awaken soon as European players are starting to join the game and come to grips with what's going on in the crypto universe.
Monero (XMR) is changing hands at $111.65, of this week's low reached $103.33. The 10th largest coin by market cap has hardly changed since this time yesterday amid declining volatility.
Tron, now the 13th largest digital coin by market capitalization, is changing hands at $0.0199. The coin has recovered from Wednesday's low at $0.01860, but the upside is capped by psychological $0.02 which has limited coin's recovery for a recent couple of days.
EOS Technical Analysis: EOS/USD vigoursly retests underneath broken rising channel, doors to further selling open
EOS price has been very much choppy on Wednesday, nursing minor losses of some 0.6%. EOS/USD price action has been vigorously moving underneath and retesting a broken ascending channel.
US data and trade war headlines conspired against the common currency these days
The EUR/USD pair surged to a fresh September high, 1.1721, retreating from the level but anyway closing the week with solid gains. A bout of risk appetite sent the greenback lower, on hopes the EU and the US could resume trade talks before the US launches the next round of tariffs, boosting equities to fresh multi-month highs.
The EUR/USD has settled below 1.1700, getting comfortable in a higher range but not going anywhere fast. There is a reason why it is stuck there, yet a break can send it shooting higher.
The Technical Confluences Indicator shows that the EUR/USD is stuck around the 1.1680 which is the dense cluster of levels including the Simple Moving Average 100-one-hour, the Fibonacci 61.8% one-day, the Fibonacci 23.6% one-week, the SMA 50-15m, the SMA 10-one-hour, the Bolinger Band one-hour Middle, the SMA 5-one-day, and the SMA 100-one-day.
Looking up, weak resistance awaits at 1.1728 where we see the Pivot Point one-week Resistance 1, the Bolinger Band one- day Upper, and the one-day high.
The next upside target is 1.1795 where we see the Pivot Point one-month Resistance 1.