NZD/USD- The economic data from New Zealand was lackluster. Manufacturing sales increased by 0.4 percent in the first quarter of 2020, following a 0.4 percent increase in the fourth quarter of 2020. The preliminary ANZ business Confidence Index for June showed a 2 point drop in business confidence to -0.4 percent. Nonetheless, the indicator suggested […]
S&P 500 Price Analysis – June 9 Following the advance beyond the 4200 marks, the S&P 500 has been in its anticipated accumulation phase, with a relatively close trend swinging upwards towards all-time highs. An eventual closing break above 4238 and a continuation of the uptrend are eyed by investors. Key LevelsResistance Levels: 4350, 4300, […]
EUR/USD has decreased a little in the short term but the bias remains bullish. The price has retested the weekly pivot point and now it looks ready to trade higher. The DXY is under big pressure right now ahead of the US inflation data released tomorrow. Today, the German Trade Balance increased from 14.0B to […]
The El Salvadoran Congress has just approved a bill to make Bitcoin a legal tender in the country. Reports show that the Bill got a “supermajority” vote, indicating how excited most of the country is regarding the new development. The Bill noted that: “The purpose of this law is to regulate bitcoin as unrestricted legal […]
Cryptocurrency provider Ripple has just released a proposal to integrate Federated Sidechains into the XRP Ledger (XRPL). The goal behind this undertaking is for each sidechain to operate as an independent blockchain, thereby preserving the XRPL’s leanness and efficiency for cross-border payments. The CTO of Ripple, David Schwartz, noted that developers on the XRP network […]
Key Resistance Levels: 1.4200, 1.4400, 1.4600Key Support Levels: 1.3400, 1.3200, 1.3000 GBP/USD Price Long-term Trend: BullishGBP/USD pair is in an uptrend. The Pound is currently fluctuating below level 1.4300. The upward move has been resisted since May 18. Meanwhile, on May 11 uptrend, a retraced candle body tested the 61.8%% Fibonacci retracement level. The retracement […]
STELLAR Price Analysis – June 09 The price may break down the support level of $0.30, when the bears increase their momentum, and the price may decrease to the low of $0.22, which may extend to $0.16 level. In case the bears are unable to break down the support level of $0.30, bulls may take […]
According to a recent report by Bloomberg, Chief Investment Officer of Skybridge Capital Troy Gayeski noted that Bitcoin (BTC) still has more upside potential than gold. He added that while he expects both assets to rally over the long term despite the Fed’s move to taper asset purchases, his hedge fund will stick with Bitcoin. […]
Key Resistance Levels: 78.00, 80.00, 82.00Key Support Levels: 58.00, 60.00, 62.00 AUD/JPY Price Long-term Trend: RangingAUD/JPY currency pair was earlier in an uptrend. The uptrend was terminated in February as the pair resumed a sideways move below the level 85.50. Since February, the currency pair has been in a sideways trend below the resistance at […]
