Bitcoin surged on Tuesday, rising 4.5% to $61,176.1 by 01:29 ET (05:29 GMT), as optimism about potential interest rate cuts by the Federal Reserve bolstered risk-driven markets. This growth mirrors broader market gains, reflecting increased investor confidence that the Fed may reduce rates in September. Key Factors Driving Bitcoin’s Rise: …
Read More »Bitcoin’s Wobbly Recovers As Market Uncertainty Persists
Bitcoin’s recent price action has been characterized by volatility and indecision. After a sharp decline of 3.06% in the past 24 hours, the world’s largest cryptocurrency managed to recoup some losses, hovering around the $59,000 level. While short-term technical indicators suggest a potential upward move towards the $60,000 resistance, the …
Read More »Dollar Index Surges On upbeat US data
In reaction to the soaring US Treasury bond yields and expectations of Fed tightening, the US Dollar Index rises by 0.37%. EMAs are below the current values in DXY’s consolidation, and the RSI has crossed the neutral line, signalling positive momentum. DXY aims for resistance at the 200-day EMA at …
Read More »US stocks decline
Market sources, citing data from the American Petroleum Institute, said on Tuesday that US crude oil inventories fell last week, while gasoline and distillate inventories rose. The sources said that crude stocks fell by about 3.1 million barrels in the week ending December 16. Gasoline stocks increased by about 4.5 …
Read More »EUR/USD Retreats To Three-week Lows On Stronger Dollar
The EUR/USD pair is under pressure. The EUR/USD pair sharply dropped during the US session and is obviously facing increasing bearish pressure near a critical support at 1.0110. A break below 1.0100 would bring about parity.On Thursday, the pair touched the 1.0107 level which is, in fact, the lowest level …
Read More »Bitcoin fails to capitalize on Monday’s gains
Bitcoin price is stuck below the short-term resistance zone plying between $22,000 and $23,000.The most famous cryptocurrency trades with modest losses on Tuesday at $22,055, down 1.85% for the day. Bitcoin price is expected to consolidate in the range of $20,000 and $23,000. The downside is well guarded near $18,000 …
Read More »Bitcoin Dips Below $20000
Bitcoin’s price entered a consolidation phase on Wednesday while its downtrend seems to have stopped after a severe shakeout to $17K. This range is likely to provide significant support, as it contains the 2017 all-time high, and it might spark a short-term rally towards the $30K region.Bitcoin price has fallen …
Read More »AUD/JPY running into monthly resistance
The AUD/JPY pair is running into monthly resistance but prior highs near 102.80 will be eyed if the bulls stay within the current course. The yen is suffering a central bank deviation blow and a potential course shift. While investors worry over decades-high inflation, the Bank of Japan has decided …
Read More »AUD/USD Rising, Defying Gravity
The AUD/USD pair is rising and while this is ideally perceived of as a bearish continuation chart pattern, the Australian dollar has a habit of defying gravity when correcting the trend and a break of the current resistance would be an important development. On the other hand, the bears are …
Read More »Gold Index at key $1,970 resistance, busy week ahead
At $1,947, the gold price is underwater in mid-New York Trade. The price hs range traded between a high of $1,970.02 and a low of $1,940.03 on the day so far. Traders have already seen good volatility in financial and commodity markets owing to the French elections, the ongoing crisis …
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