I have been waiting for this for such a long time. Finally we made a breath down so we can hop again. DJI world market stocks correction. -10% value. 100MA support. 38.2%FIB trump Rally. RSI oversold with signs for a correction. 78.6% FIB last leg of the move. Fundamentally everything looks perfect. Go for the 30K. 3 positions sizes with good RRR. Good Luck
Despite currency markets have been calmly observing the global stocks rout, the greenback managed to gain some support amid a widespread risk aversion this week. As a result, the euro is on the way to registers its worst weekly performance since October. Following a seven-week rally, EURUSD has retreated from highs above 1.25 hitting levels last seen back in...
The downside correction in the oil market is gaining momentum, with Brent crude prices came close to the $65 mark in Asia and hit a 2018 low on lingering concerns over surging U.S. output. The key question now is if prices stage a recovery from here, or dive under the psychological level and extend losses. The recent bearish driver for another sell-off was the...
GBPUSD has entered a consolidation phase, hovering around the 1.39 level following the recent retreat from highs around 1.4150 early in the week. The recent pullback was triggered by a number of factors, including stronger US dollar, unimpressive UK economic data, negative signals from the Brexit process, and a more cautious tone ahead of Bank of England’s “Super...
Cryptocurrency market remains under a heavy pressure facing strong headwinds from global regulators and authorities that are taking a tougher stance against the “volatile and dangerous” market day by day. Bitcoin price briefly slipped below the $6,000 mark on Tuesday, down to fresh mid-November lows in the $5,810 area, -14% on the day. The current fallout in...
Cryptocurrencies continue to retreat at the start of a new trading week following sharp losses on Friday, with bitcoin is trading dangerously close to fresh November 24th lows below the $8,000 threshold. Any attempts to regain the upside potential face strong headwinds amid the never-ending woes in the volatile market. In another blow for bitcoin, major US credit...
Following the recent consolidation phase, bitcoin has suffered huge losses this week. Amid a growing list of factors weighing on the cryptocurrency, the price dipped below the key $10,000 support which triggered a more aggressive sell-off. As a result, the asset has cracked below $9,000 for the first time since November and moved to the lowest levels since...
The AUDUSD pair extended its slide and touched a one-week low at 0.7987 on Thursday. Aussie is trading in bearish mode for the fourth consecutive day, sticking to the key 0.80 psychological support. The economic data from Australia is not supportive for the currency these days – weak CPI report has disappointed the bulls and triggered a more aggressive technical...
Bitcoin remains under pressure and struggles to find demand amid further negative developments in the cryptocurrency market. The price briefly slipped below the $10,000 handle on Tuesday and tried to test this key support earlier today. The digital currency reached fresh two-week lows at $9,698 where attracted some demand and is trying to move back into positive...
Brent futures fall for a second day on Tuesday amid growing fears of US stockpiles rising for the first time in 11 weeks. Recent buoyant tone in the market was also undermined by USD recovery, though the bearish pressure is already back today. Brent touched a low of $68.50, its weakest since January 22, and struggles to regain the $69 mark. The market expects...
The US Dollar is trying to stage a widespread recovery on Monday as bears decided to take a breath after an aggressive sell-off over the last week. There are no any fundamental drivers behind the local rebound, which rather has to do with technical factors including the oversold conditions. Thy key events for the greenback this week are the two-day FOMC meeting...
After tentative recovery attempts, bitcoin is falling again. Today, the price dropped from $11,584 to a low of $10,228. Though the volatility has declined lately, and the cryptocurrency reacts to negative news not so emotionally as before, the market stays depressed overall, on the back of increasing pressure from regulators around the world. As the latest sign...
Gold prices continue to get support from weaker U.S. dollar which hit fresh three-year lows overnight. A new selling wave that gripped the greenback was on the back of comments from US Treasury Secretary Steven Mnuchin who welcomed a weaker national currency. Another USD’s plunge has strengthened demand for gold. Besides, the positive tone of the precious metal...
The single currency continues to appreciate aggressively and reached new four-year highs at 1.2355 during the European session. The key driver behind euro’s rally since the start of the year is the increasing bearish pressure around the greenback. But the December ECB meeting minutes, which were more “hawkish”, has contributed to the upbeat mood around the...
Crude oil prices have been range-bound over the last few days due to a relative balance of bearish and bullish factors. Despite the current consolidation, there is a downside slope in Brent which may be a sign of buyers’ fatigue and a prelude to a local bearish correction. Since peak of $70.35 in mid-January, Brent started a smooth retreat and slipped to the...
The Bank of Japan two-day meeting ending on Tuesday is not expected to bring any changes in the monetary policy, but it doesn’t mean it will be an uneventful one. Earlier this month, the regulator trimmed the QQE purchases slightly. Despite the action is assessed by the market as a purely technical measure, investors took it as a sign the Japanese monetary...
The British pound jumped to a fresh post-Brexit vote high of 1.3945 against the US dollar. However, the pair wasn’t able to sustain gains above the 1.39 threshold and has retreated after the disappointing UK economic data. According to the official figures from ONS, retail sales fell 1.5% month on month in December, which was a much stronger decline than analysts...
The greenback remains under pressure against major rivals. However, the currency started to signal the potential recovery lately. The recent example of this was yesterdays’ reaction to the Fed’s Beige Book. The report was fairly “hawkish” as the central bank has confirmed its intention to hike rates three times this year. The release triggered renewed dollar...