5 Minute Crypto and Stock Market Update – Trade War Talks Continue To Lead [Video]

Kiana Danial, CFP Invest Diva

Taking a Closer Look at AUD/USD

Australia is China’s trading buddy, and right there next to New Zealand so today I’m looking at the AUD/USD pair which is still struggling to pierce through the daily Ichimoku cloud. Just like the NZD/JPY pair that I covered yesterday, the AUD/USD pair also appears to be in the process of forming a double bottom bearish reversal chart pattern.

However, the Aussie is less bullish than Kiwi. Regardless, we may be able to see the pair at least travel through the Ichimoku cloud and test the neckline of the double bottom chart pattern which also falls on the all-important 50$ Fibonacci retracement level.

For more from Invest Diva, click here

Author

Kiana Danial, CFP

Invest Diva

Kiana Danial is an award-winning, internationally recognized personal investing and wealth management expert.

EUR/USD remains on the back foot near 1.1750

EUR/USD is coming under renewed pressure, sliding towards multi-week lows in the mid-1.1700s on Thursday. The move lower reflects another strong session for the US Dollar, with the Greenback drawing fresh support from a batch of firm US data that reinforced its underlying bid.

GBP/USD drops further, hovers around 1.3460

GBP/USD is sliding in tandem with its risk-sensitive peers, drifting back towards the 1.3440 area, its lowest levels in around four weeks. The move reflects a firmer Greenback, supported by another round of solid US data, while a somewhat divided FOMC Minutes has added an extra layer of uncertainty around the Fed’s rate path, keeping Cable on the defensive.

Gold struggles to overcome $5,000

Gold is trading with humble gains on Thursday, hovering around the key $5,000 mark per troy ounce. The yellow metal remains underpinned by renewed geopolitical tensions in the Middle East, even as a stronger US Dollar and rising US Treasury yields across the curve limit the upside and keep price action relatively contained.

Ripple slips toward $1.40 despite SG-FORGE tapping protocol for EUR CoinVertible

XRP extends its decline, nearing $1.40 support, as risk appetite fades in the broader market. SG-FORGE’s EUR CoinVertible launches on the XRP Ledger, leveraging the blockchain’s scalability, speed, security, and decentralization.

Hawkish Fed minutes and a market finding its footing

It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.

Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective price rallies over 13% on Thursday after the network confirmed the approval of its IIP-619 proposal. The green light for the mainnet upgrade has boosted traders’ sentiment, as the upgrade aims to scale Injective’s real-time Ethereum Virtual Machine architecture and enhance its capabilities to support next-generation payments.