Equities positive, crypto correcting
|Important News for the day
-
Tue, 05th, 16:00 CET US ISM Service PMI.
Crypto weaker
Crypto markets remain shaly and currently don’t offer a clear trend. Bitcoin might start to weaken again as the market stopped rising above yesterday’s high point. ETH has started the month slightly positive but currently seems to fade as well. Yet Ethereum looks the strongest among all tokens based on the recent positive trend based on the monthly chart. Also XRP is currently capped below the technical resistance zone with the tendency to potentially break higher as well. With the break of the 50- moving average based on the weekly chart, Solna might remain caped from rising for now.
Market talk
As markets in search of a new direction some positive sentiment for the equity sector resurfaces. Indices like the S&P 500 as well as the Nasdaq kept moving higher again but currently lag a breakout above their previous highs. In case the resistance areas can be broken, fresh upside momentum might occur. However, the potential positive data from the US might cause markets to push lower based on potential strength of the Dollar. The AUD remains in a sideways pattern against the Greenback and might hence indicate potential negative momentum as well. Meanwhile the EUR and GBP have both started to push lower and might cause the bearish trend to resume momentum while Gold and Silver started to move slightly higher again.
Tendencies in the markets
-
Equities positive, USD stronger, Bitcoin weaker, ETH positive, oil weaker, Silver sideways, Gold positive, JPY weak.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.