"Has Coronavirus Really Helped Bitcoin To Surge? Here’s A Chart That Answers The Question," article published today on Invezz.com interestingly notes the correlation between Bitcoin and coronavirus. If Bitcoin continues to move higher in the coming days, we may see a test of $11,000 - $11,500 level next.
EUR/USD has today printed $1.0776, which now marks the 3-year low for the pair. We can expect a rebound from here while a clean break of this support could translate into a major bearish event for the pair.
Ethereum price has moved above the $200 mark for the first time since September last year, as the bulls prepare a basis for a trip to the mid $200s. As the chart below suggests, investors have continued to buy Ethereum in the past few days as they eye a trip to test the major resistance zone that starts at $225 - a September high. Above, the 50% Fibonacci...
Amazon crushed Wall Street expectations for Q4 which will likely result in the fresh all-time high today. The 127.2% Fibonacci extension of the recent correction lower comes around $2,250 and is likely to act as the next major target for the bulls.
The sterling marched higher on the back of less dovish Bank of England monetary policy statement. The bulls will now target $1.3150-$1.3180 as the key short-term resistance
Bitcoin broke above the key short-term resistance at $9,000. If it continues higher, $10,300 is next.
The USD/CAD has burst higher today on the dovish Bank of Canada (BoC) monetary policy statement. Compared to this morning’s price, USD/CAD trades more than 100 pips higher. The pair is now approaching the key short-term area at $1.3160, where the 2-year ascending trend line and the 200-DMA intersect. Watch the reaction closely for future clues.
In the short-term, GBP/USD's trading window is narrowing down as two opposite trend lines have now almost converged. I would say the chances are a bit higher that we see a break to the downside from here. The next support is December 23 low at $1.2900
Crude oil prices can hit low $50s if the key short-term support around $57 gives way. The bulls failed to keep the price above $60 despite increased tensions in Iraq, Iran and Libya, three major oil producers.
The Mexican Peso benefited greatly recently on the back of the new USMCA, agreed between the United States, Mexico and Canada. I expect the price action to eventually move below $18.00 in the coming weeks and months after the pair broke below the multi-year triangle.
USD/CAD has left the mini wedge, after the pair also broke below the multi-year triangle. In addition, the USD/CAD is also trading below 100-WMA and 200-WMA. If the price continue lower, the October 2018 low of $1.2780 is the next target, while the 61.8% Fibonacci retracement sits at $1.2670.
Ethereum has broken above the key short-term resistance and the bulls will now look to build up on this success as they target the confluence of resistance at $184.
XRP has been moving upwards, in line with the rest of the bulk of the cryptocurrency market. Given the recent struggles of XRP and Ripple, I wouldn't be much surprised if the price action rotates lower from this - very important - level. Moreover, the price hit a 100-DMA, which may facilitate the entrance from new sellers. The XRP has also returned 50% of its most...
In case Boeing fails to clear the mess around its 737 Max model in 2020, we may see a move below $200 to complete the symmetrical triangle pattern.
A potential H&S pattern on USD/CHF daily chart. A break of the neckline would trigger the pattern. The target is below $0.9200
Bears have managed to push the price below the ascending trend line and are now targeting the confluence of support around the $0.9550 mark.
Bitcoin has broken above the channel resistance today as the bulls target the key resistance area around the $9,000 mark next.
USD/JPY managed to get past a confluence of seven different layers of resistance, in the area of $109.30 - $109.70. A convincing move, initiated by the improving global markets outlook, has paved the way for more gains as bulls target $110.70 first and then the major 3-year down-slipping trend line at $111.60.