Bitcoin ETFs noted consistent outflows throughout the week, totaling over $730 million. BTC supply on exchanges is down 27% in the past six months, despite consistent profit taking by Bitcoin holders. At the current price, nearly 82% Bitcoin holders are profitable, likely to realize gains and increase selling pressure on BTC. Bitcoin touched $63,379, a
Month: June 2024
Pantera Capital released a report addressing Solana as a major player in the future of blockchain. Waning interest in meme coins could hamper Solana’s growth. Solana’s price drops briefly below $130 for the first time since May. Pantera Capital released a report on Friday stating Solana’s rising influence in blockchain, surpassing that of Ethereum amid
The week is coming to a close with the USD being the strongest of the major currencies. The JPY is the weakest.The gains in the greenback today were helped by stronger-than-expected flash PMI data that saw services index rise to 55.1 vs 53.7 expected, and the manufacturing rise to 51.7 above estimate of 51.0. For
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
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
Canadian Dollar sheds a fifth of a percent against Greenback. Canada saw an upswing in core Retail Sales, but industrial prices cooled. US PMIs beat the street, snubbing forecasts and ticking higher in June. The Canadian Dollar (CAD) is struggling to overtake the US Dollar (USD) on Friday, buckling under the weight of a thin,
As the clock ticks to the end of the trading week, the USDCAD has moved higher after reaching a new low for the week earlier in the trading day. On the way to the low, the price did move back below its 200 bar moving average on the 4-hour chart at 1.3687. It also fell
The GBPJPY has been on an upward trend this week, but it turned lower during the European session following weaker-than-expected flash PMI data. The price dropped below its 100-hour moving average (blue line on the chart above at 200.77) but found support near the 200-hour moving average and the lower boundary of a swing area
The AUDUSD this week traded down to test a swing area between 0.6575 and 0.6590. The subsequent move to the upside then tested the high of a swing area between 0.6677 and 0.66896 (see the chart below). Staying with the confines of the “red box” where most of the trading has taken place over the
The Pound Sterling drops as dismal market mood and poor UK PMI weaken the impact of upbeat Retail Sales. Strong UK Retail Sales could weigh on BoE rate-cut hopes for August. Investors will keenly focus on the preliminary US PMIs for June The Pound Sterling (GBP) remains on the back foot in Friday’s London session against the
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
Leading lights from the world of online trading gathered at Columbia Beach, Limassol, Cyprus to celebrate the best Brokers and B2B brands over the past 12 months as part of the official UF AWARDS Global 2024. The winning companies were congratulated in a special ceremony on June 20, organised by Ultimate Fintech, with each award
Japan Chief Cabinet Secretary Yoshimasa Hayashi said on Friday that stable foreign change (FX) levels are desirable. Hayashi emphasized the importance of maintaining strong confidence in the Japanese Yen (JPY). Key quotes The addition of Japan to the US currency monitoring list does not mean that Japan’s foreign exchange policy is a problem Stable Forex levels
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
GBPUSD sellers are making a play The GBPUSD fell earlier today. The BOE kept their policy rate unchanged today. However, as Justin pointed out in his posts after the decision, the Bank of England’s latest statement includes subtle dovish hints suggesting potential rate cuts in the near future. In the forward guidance, the BOE added,
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
USDJPY breaks and runs The USDJPY is extending to a new high for the day. The move higher today took the price above the swing highs from earlier this week and last Friday near 158.248. After reaching a high at 158.46. The price rotated back lower, tested the break level at 158.248 and found support
The broader US stock indices have now moved into negative territory and traded two new session lows. The S&P is down -18 points are -0.33% at 5469. The NASDAQ and is down -133 pointer -0.74% at 17729. Nvidia shares are now negative by $2.26 or -1.59% $133.38. Apple shares are down by $4.45 or -2.08%
AUD/USD reversed part of the recent weekly recovery. The renewed upside impulse in the Dollar hurt the AUD. Next of note in Australia will be the flash PMIs on Friday. AUD/USD halted its recovery after two straight advances in a row, driven by improved sentiment in the US Dollar (USD) and a broad-based risk-off sentiment
What is a catalyst? A trading catalyst is anything that causes a market reaction. The most common catalysts come from the economic data. In fact, you may have seen countless times the market reacting to an economic report and sometimes the moves can be very large. Types of catalysts There are generally two types of
The excitement around artificial intelligence is beginning to resemble the California gold rush; only now are companies, not individuals, chasing the new El Dorado. Representatives of all industries seem determined to incorporate the latest technology into their operations to increase productivity and reduce costs. Merchants find themselves in a situation similar to that of 150
Solciety, a prominent player in the PolitiFi meme coin sector, has successfully raised over $300,000 within the first 48 hours of its presale, which commenced at 14:00 UTC on 18th June. The presale is scheduled to run for 30 days, concluding on 18th July. The presale success aligns with the heightened interest in PolitiFi tokens
Fundamental Overview The USD has been generally weaker this week after the strength seen last week due to some risk off sentiment. In fact, it looks like it’s just sentiment that’s been driving the market recently as fundamentally the soft US inflation figures just consolidated the market’s expectation of two cuts for this year despite
On the optimistic change, Ifo says that: “The German economy is slowly working its way out of the crisis. New hope is now emerging. The second half of 2024 should be significantly better than the first. As the year progresses, the purchasing power of private households should continue to gain strength and the overall economic
Gold demand increases from investors bundling into safety as geopolitical risks escalate. Israel’s threat of “all-out war” with Lebanon and Russia’s signing of an alliance with North Korea are intensifying concerns. XAU/USD recovers and reaches a cross-roads level, bringing its ongoing bearish pattern into question. Gold (XAU/USD) price awakens from its slumber on Thursday, gaining
USD/CAD gains ground near 1.3710 in Thursday’s early Asian session. The weaker US Retail Sales data fueled Fed rate cut expectations and might cap the Greenback’s upside. The BoC policymakers worried about downside risks and the possibility of a widening divergence between Canada and the US. The USD/CAD pair trades with mild gains around 1.3710,
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
Ripple proponents have called out the SEC for dropping its investigation into Ethereum. Consensys, an Ethereum developer, shared the news of the regulator’s response to a letter. XRP is back under the $0.50 resistance in response to Ethereum’s free pass. XRP trades back below $0.50 on Wednesday as Ripple (XRP) proponents like attorney Bill Morgan
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
NVDA price forecast for traders and investors at ForexLive.com Predicting where a stock might rest after a significant rally, especially when it’s creating new all-time highs (ATH) almost weekly, presents a unique challenge in technical analysis. NVDA (NVIDIA Corporation) is currently in such a phase, with its price action tightly confined within a strong bull
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