• On the hourly chart, Bitcoin is consolidating around $6700 following a sharp recovery from $6600 level • After dropping off a month’s wedge, Bitcoin confirms reversal with a head-and-shoulders pattern on the 4-hours chart. Starting the week with a 3% loss, Bitcoin’s price is now floating around $6700 against the US Dollar following a […]
USDWTI Price Analysis – April 13 Despite the enormous losses, WTI reluctantly welcomes the OPEC+ deal, as the market matches it to initial forecasts of 20 million barrels a day of cuts as fresh recovery seems unable to sustain rates beyond $25.00 level. Although further recovery is anticipated, the lack of major economic calendar events […]
Key Resistance Levels: 0.9200, 0.9400, 0.9600 Key Support Levels: 0.8800, 0.8600, 0.8400 EUR/GBP Price Long-term Trend: Bearish EUR/GBP was earlier in the bull market in August as it reached a high of 0.9317 but was resisted. The Fibonacci tool was used to determine the extent of the downward move. In October, a bullish candlestick tested […]
The week before, China’s central bank expressed its support for the issuance of national digital currency for perhaps the umpteenth time. On 4 April, the bank said it was further “prioritizing” the digital yuan at the 2020 National Currency Gold Silver and Security Work Video and Telephone Meeting. “After the outbreak of the New Coronary […]
GBPUSD Price Analysis – April 12 The GBPUSD pair ended the prior week with gains around the 1.2465 level after peaks in the previous session at 1.2486 level. This represents the several times that this price zone was approached by the pair and was unable to push beyond it while anticipating acceleration above the level at 1.2500. The Sterling has gained […]
GBPJPY Price Analysis – April 12 Even though there are fluctuations in the country caused by the coronavirus, GBPJPY continues at the forefront, while the price fluctuates beyond the level of 135.00, rising by around 0.40%. Motivated by the Bank of Japan head’s recent positive remarks, Haruhiko Kuroda, referring to market uncertainty and resolve to […]
Key Resistance Zones: 28500, 29000, 29500 Key Support Zones: 26000, 25500, 25000 US Wall Street 30 (US30USD) Long-term Trends: Bearish US30USD has continued its upward move but it is currently facing resistance at 24000. Since April 9, there is rejection near the resistance zone. Besides, there is the appearance of a shooting star candlestick signifying […]
Resistance Level: 7500, 7600, 7700 Support Level: 7300, 7200, 7100 FTSE 100 (UKX) Long-term Trend: Bearish FTSE 100 upward move is continuing as the resistance at 5750 has been broken. Will the upward move continue? On the upside, UKX will rise to the high of 6750 if the bulls sustain the upward move. However, the […]
Key Resistance Zones: $10,000, $11,000, $12,000 Key Support Zones: $7, 000, $6, 000, $5,000 BTC/USD Long-term Trend: Bullish Following the breakdown on April 10, the bulls have continued to sustain Bitcoin above $8,000 support. Analysts agree that continuance sustenance may bring about a rebound above the current support. This will propel Bitcoin to reach the […]
