Litecoin price hovers below the $100 psychological level and a declining resistance level. Due to the bullish market structure, LTC could kickstart an ascent to $119.84. A breakdown of the $76.78 support level will invalidate the bullish thesis. Litecoin (LTC) price shows strength as it attempts to recover last week’s losses. LTC faces two critical
Month: March 2024
BTCUSD 4 hourly chart shows a failed breakout Bitcoin’s recent price action on the 4-hour chart presents a fascinating narrative of a failed breakout, highlighting the constant battle between bulls and bears in the cryptocurrency market. Here’s an in-depth look at the technical analysis of Bitcoin’s performance and what traders might anticipate next. Bitcoin’s Failed
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
UPCOMING EVENTS: Tuesday: US Durable Goods Orders, US Consumer Confidence. Wednesday: Australia Monthly CPI, Fed’s Waller. Thursday: BoJ Summary of Opinions, Australia Retail Sales, Canada GDP, US Final Q4 GDP, US Jobless Claims. Friday: US Good Friday Holiday, Japan Jobs data, Tokyo CPI, Japan Industrial Production and Retail Sales, US PCE, Fed Chair Powell. Tuesday
Celestia price set up an ATH on February 10 at $21.16 and has been descending since. The recent 37% crash betwene March 13 and 19, has put the bullish trend in question. A breakdown of $11.74 could lead to a steep 22% correction to 9.14. Celestia (TIA) price shows a slowdown of the bullish momentum
Goldman Sachs forecasts for USD/JPY: 3 months 155 (the prior forecast for 3 months out was 145) 6 months 150 (prior 142) 12 months 145 (prior 140) These are from a GS note sent to client on Friday. GS cite a “benign macro risk environment” for its bearish view on yen. GS analysts also say
Sushi price has overcome a resistance level at $1.628, showing bullish strength. If the $1.628 level holds, investors can expect SUSHI to kickstart a 70% rally to $2.78. A breakdown of the $1.012 level would invalidate the bullish thesis. Sushi (SUSHI) price shows readiness to move higher after it recently overcame a key hurdle. If
Ripple price sits at a key confluence support level of $0.586, hinting at a potential breakout rally. The structure of XRP’s recent price action is similar to meme coin consolidation, often leading to an explosive surge. A breakdown of the weekly support level at $0.586 will invalidate the bullish thesis. Ripple (XRP) price has breached
Shiba Inu price registered a 354% gain between February 27 and March 4 after breaking out of its 652-day consolidation. SHIB has already shed 42% and is currently trading at $0.0000264. Investors can expect the meme coin to drop another 32% and retest $0.0000178. Shiba Inu (SHIB) price consolidation from May 13, 2022, ended on
Solana price has faced intense selling pressure around the $200 psychological level. Technicals hint at another 10% to 20% correction on the cards for SOL. Sidelined buyers could get a buying opportunity on the potential retest of $134. Solana (SOL) price has undone half of the gains noted in the past week as it trades
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
The major US indices are closing with mixed results today. The Dow industrial average and S&P index both closed lower. No record closes for those indices on the last trading day of the week. The NASDAQ index did close in positive territory and at a new record. A summary of the closing levels shows: Dow
The USD is ending the day mostly higher with gains vs all the major currencies with the exception of the JPY and CHF (-0.16% and -0.06 respectively). The strongest to the weakest of the major currencies The greenback rose the most vs the AUD (+0.84%), NZD (+0.79%) and CAD (+0.59%). Solid gains on the day
GBP/JPY retreats to 190.69, down 0.61%, missing the 194.00 psychological level. Uptrend signaled, with 190.75 support possibly curbing losses. Overcoming 191.00 resistance key to approach near 193.00 highs. The GBP/JPY retreats deeper below the 190.00 figure after hitting a 9-year high of 193.55, as buyers fail to push through the latter and aim toward the
Crude oil futures are settling at $80.63. That is down $0.44 or -0.54%. The low for the day reached $80.42. The high was up at $81.45. For the trading week, the price is down -0.51% on a decline of $0.41. At session highs this week, the price was up $2.08. At session lows, the price
The USDJPY bumped against three-year highs this week on both Wednesday and Friday, and found willing sellers each time. The high on Wednesday reached 151.81. The high today reached 151.85. That compares to the 2022 high at 151.95, and the 2023 high at 151.91. So over the last three years, the swing highs are within
The EURUSD is trading at new session lows and lows for the week. In the process, the pair is testing the high of a swing area near 1.0847 and the 61.8% of the move up from the February low to the March high at 1.08036. The swing area extends down to 1.07955 (see red numbered
There was a shooting ongoing at the Crocus City Hall, a music venue in Moscow. At least three gunmen were killing people. There are videos of it circulating online. The U.S. embassy in Russia warned that ‘extremists’ had imminent plans for an attack in Moscow, hours after Russian security services said they had foiled a
Rate cuts are the main catalyst that all the gold bulls are waiting for, particularly if it comes with US dollar softness. However Scotia outlines two shorter-term factors that could boost gold’s momentum. 1) COMEX speculative position of 222k contracts is at average levels (since 2018) and well below its 2020 peak 2) ETFs are
Italy is targeting GDP growth of 1% for 2024. That is above economist estimates. Meanwhile, the EURUSD is trading near lows for the day but above the support at the 61.8% retracement of the move up from the February low at 1.08036, and above and swing low going back to the end of February and
The NZDUSD – like some of the other currency pairs vs the USD this week – saw multiple up-and-down price action. It moved to the upside on Wednesday and was spurred on by the FOMC rate decision. Its move back to the downside on Thursday and today was spurred by stronger growth and a rotation
The USDCAD has traded up-and-down this week. The initial move was higher into the top-side swing area resistance. In the middle of the week the move was to the downside (after the FOMC rate decision). The last two days have been back to the upside. In the process the upside, the price has moved back
US Sec. of State Blinkin continues pressure on Israel’s PM Netanyahu, by warning he and his war cabinet, that without a plan for the day after, Israel is on its way to being stuck in Gaza in a way that would endanger its security and international standing. Israel has not been listening. Comments from US
European Central Bank (ECB) President Christine Lagarde told European Union leaders on Friday that they expect the decline in the Euro area’s inflation to continue, per Reuters. Lagarde added that the growth is projected to pick up in the course of 2024, mainly driven by increasing purchasing power. She further noted that the economic resilience
MetaWin, a leading platform for online prize-winning games, has introduced a groundbreaking initiative focused on enhancing transparency and fairness for players globally. After extensive research, MetaWin identified inconsistencies in Return to Player (RTP) rates among different operators, causing confusion among players. Understanding RTP is crucial for players looking to make informed gaming choices. In simple
USD The Fed left interest rates unchanged as expected with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower. Fed Chair Powell maintained a neutral stance as he said that it was
The dollar is proving that its post-Fed slump was merely a blip, as it runs higher now on the week. The greenback has erased its declines after the FOMC meeting and then some now, posing some key technical questions here. That will be an important detail to pay attention to as we look to wrap
Bitcoin price flashed a weekly sell signal after producing a bearish swing failure pattern. BTC might attempt to overcome the previous ATH at $69,138 before a potential correction ensues. The weekly imbalance, extending from $59,111 to $53,120, is a key range where buyers might step in. As ETF inflows slow down, the outflow data will
Yellen as part of her testimony before the US Congress, says, “I strongly believe the US dollar needs to remain the world’s primary reserve currency” she sees “few real challenges to the US dollar” Adds that the role of the dollar is helpful for giving teeth to US sanctions. I know comments like this trigger
The price of crude oil futures are closing at $81.07, down $0.20 or -0.25%. The high for the day reached $81.92. The low for the day was at $80.30. News out of Israel was that Israeli forces will look to control Rafah despite opposition from Washington. Looking at the hourly chart, the low price tested
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