EUR/USD is paring back gains towards 0.9900 in early European hours, as German Factory Orders disappointed with -2.4% in August vs. -0.7% expected. The US dollar licks its wounds amid a better market mood. Eurozone data and ECB minutes are awaited.
GBP/USD has witnessed a minor pause while advancing towards 1.1400. The risk-on impulse is still solid and S&P500 is holding gains. Fitch Ratings have revised the BOE sovereign outlook to Negative from Stable.
MORE NEWS & ANALYSIS
Crypto.com price seems to have undone its breakout gains seen in the last week of September. This downtrend has morphed into a tight consolidation showing no volatility. Investors can take their eyes off CRO as long as this trend continues.
Ethereum Classic price has started to turn around after weeks of downtrend and sell-off, but there is still more room to cover. Therefore, investors need to be careful as this ongoing spurt in bullish momentum could take a U-turn quickly.
Chainlink price has been producing higher lows since June. The Volume Profile Indicator shows bears have regained control of the higher time frames. Invalidation of the bearish thesis is a breach above $10, which could trigger an additional rally towards $12.