price has been on consolidation for days now after a heads and shoulder pattern. expect price to move towards the marked areas. be patient give it time to do its thing.
Why the Euro is so weak
Reasons for Euro weakness are not hard to find:
European gas prices are at record levels, pushing wholesale electricity prices up 200% in the first nine months of this year, according to the Guardian newspaper. There are concerns this could spill over into the US this winter but there has been an unusually mild start to autumn there so the...
With the suppositions from on-chain and market indicators, a bearish scenario would include Bitcoin price shattering the hypotenuse of the ascending triangle, invalidating it and heading lower to retest the $34,752 weekly support level. Here, buyers have another attempt to trigger a run-up; however, a daily candlestick close below it would create a lower low and...
The GBP/USD pair is juggling in a narrow range of 1.3156-1.3170 as the market participants are waiting for the unfolding of the UK’s Consumer Price Index (CPI) numbers, which are due on Wednesday. A preliminary estimate for the UK’s CPI is 5.9%, much higher than the previous print of 5.5%. With technical indicators on the daily chart holding in the bearish...
Price is breaking the previous bullish structure. EUR/GBP steps back from the intraday high, as well as the 200-HMA, by declining to 0.8390 ahead of Monday’s European session. Even so, the cross-currency pair holds onto the previous day’s upside break of a two-day-old resistance line amid bullish MACD signals, suggesting further advances beyond the 0.8395...
