The AUD/USD rose to 0.7354 in Asia – the highest level since Aug. 10 – having gained close to 100 pips in the last three trading days. The corrective rally gathered steam on Friday as the yellow metal (one of Australia’s top exports) recovered sharply from the multi-month low of $1,160.
The EUR/USD pair jumped to 1.1542 in Asia – the highest level since Aug. 9 as the Asian desks offered the USD in response to the overnight drop in the treasury yields.
The GBP/USD pair extends its recovery from thirteen-month lows of 1.2662 into the fifth day today, with the bulls now looking to regain the 1.2850 barrier heading towards the European session.
EUR/USD bulls are challenging the bear trend as they are lifting the market almost to 1.1506, June 21 low. EUR/USD is trading at the top of a bullish channel and the 50-period simple moving average (SMA) has crossed above the 100 SMA further confirming the short-term bullish bias.
Despite recovery attempts, the downtrend remains firmly intact, with a fresh lower top sought out around $8,500, to be confirmed on a bearish continuation below the 2018 low. Only a break back above $8,500 would negate. In this analysis, we take a look at Bitcoin each day, highlighting all of the need to knows for anyone looking to extract up to...
Monero was seen nursing some very minor losses of just around 0.5% in the latter part of Monday's session. XMR/USD continues to flirt in and out of the $100 mark, a large breakout looks to be in the works, to burst out of this narrow range.
The Ripple price was seen nursing losses of just 2% in the late part of Monday’s session, recovering after an initial soft start, was down some 5% because receiving support. A marginal pullback has been observed across the crypto market, after a decent bull run last week.
EOS Price Analysis: EOS/USD bears bite bulls in the backside to regain driver’s seat, but ascending channel remains intact
The EOS price lost much ground on Monday, dropping around 4% in the session, as the crypto market pricing across the board was seen to be cooling. EOS lost upside momentum after touching the upper part of an ascending channel on 18th August.
EUR/USD poised to remain under pressure, 1.1000 now at sight
The common currency trimmed its weekly losses against the greenback, but remained depressed for a fourth consecutive week, bouncing from a fresh yearly low of 1.1300. Dollar's decline seems a due correction as longs are overcrowded, but absent EUR demand kept the upside in check. Fear and uncertainty were again the main market motors, despite some positive headlines that should have averted it.
The EUR/USD managed to recover on hopes for a trade settlement between China and the US. Where next?
The Technical Confluences Indicator shows that there is a convergence of potent technical levels at 1.1441: the Simple Moving Average 200-one-hour, the Fibonacci 161.8% one-month, and the Bolinger Band 15m-Upper.
Further up, 1.1470 is another important resistance area with the Pivot Point one-day Resistance 1, the PP one-month Support 2, and the SMA 10-one-day.
On the downside, the pair has support 1.1390 is the confluence of the Pivot Point one-day S1 and the Fibonacci 38.2% one-week.
The next support area is close by at 1.1368 which is the meeting point of the Pivot Point one-month Support 3 and the one-day low
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