FxProGlobal

FxProGlobal

After five weeks of trying to stay above its 50- and 200-week moving averages, the digital silver is in danger of closing below these lines and $1600 this week. The following essential lines of defence look to be the $1500 and $1200 levels, where buyers came to the coin's rescue in March and December last year.

FxProGlobal

Even the Fed's decision and comments failed to inspire crypto investors to move from their entrenched levels. The crypto market capitalisation fell a modest 0.25% on the day, significantly less than the Nasdaq's losses (-1.5%) and more a reflection of the dollar's 0.3% appreciation over the period. In Bitcoin, the sell-off intensifies around the 50-day moving...

FxProGlobal

The crypto market has been trading around 1.08 trillion over the last day. The trading range is narrowing as the Fed decision approaches. However, it is worth highlighting the pressure on the markets early on Wednesday and the intensification of cryptocurrency selling as the cap rises towards 1.09 trillion. Bitcoin encountered resistance at $27.4K. Attempts to...

FxProGlobal

Bitcoin hit $27.4K on Monday for the first time since late August but quickly pulled back to $26.8K. This was the second failed attempt to break above the 50-day moving average since early August and the second downward reversal on the approach to the 200-day MA. This is an important signal that the bears are still in control of the situation in the largest...

FxProGlobal

Gold added almost 1% on Friday, having managed to defend against a fall below $1900 the day before. The price tests the long-term and medium-term trends for the second month, leaving the Fed to make a decisive argument in favour of the bulls or the bears. Friday's rise so far looks like a trap for the bears. Gold closed last week minimally above its 200-day...

FxProGlobal

The crypto market gained around 3% last week, taking its capitalisation to $1.06 trillion - the highest since late August. The market dip at the start of the previous week has fuelled buyers' appetite. But we are also seeing interest in crypto, in contrast to the sell-off in tech giants. We saw something similar in the spring as capital fled regional banks in the...

FxProGlobal

August could be an essential turning point for prices in this regard. This is undoubtedly the case on the WTI price chart. Early last week, buyers supported oil immediately after falling below $78, the 61.8% Fibonacci retracement of the rally from the June lows (at $67) to the August highs (at $84). This correction has cleared the medium-term overbought...

FxProGlobal

XRP has performed worse than the cryptocurrency market over the past few days, erasing almost all gains of its latest leap. On a weekly timeframe, long-term support appears to have been taken over by the 200-week average (now $0.516). A fortnight ago, the sell-off stopped at the 50-week average ($0.457). Both curves are well above the multi-year uptrend line,...

FxProGlobal

Gold's rally appears to be running out of steam after a 2% rally since the beginning of last week. Gold has been at the mercy of sellers for a month since the 20th, losing over 5.2% from peak to trough. Gold began to look oversold in the short term after falling below $1885. The price fell below the 50-day and then the 200-day moving averages in August. The rally...