Mon, Nov 30, 2020 @ 20:04 GMT
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Chilled End to Bumper November

It's been a pretty chilled start to the week, with a little more profit taking kicking in as we bring an end to a bumper November. More vaccine news from Moderna, as they applied for emergency regulatory approval in the US and Europe. That could see the vaccine distributed before...

BTCUSD Buy The Dip

Bitcoin has surged higher over the weekend after traders and investors shrugged off concerns about possible crypto regulations for US citizens. Traders may now look to buy into a meaningful price dip towards the $17,200 or $16,500 area, in expectation of a coming rally. Higher time frame analysis for...

Forex and Cryptocurrency Forecast

First, a review of last week's events: EUR/USD. Making a forecast for the past week, most experts (65%) preferred the European currency. Graphical analysis, 90% of trend indicators and 75% of oscillators on D1 also sided with the bulls. And this forecast turned out to be almost correct. "Almost", because...

Bitcoin Hits Record High

With US markets closed for Thanksgiving, financial markets were quiet. One “financial market,” if you can call it that, that did see some emotional volatility overnight, was bitcoin. Having touched a new high of USD9,490.00 on Tuesday, the overnight session saw the digital currencies fortunes rapidly reverse. Bitcoin fell...

Markets in Holiday Mode

It's not just the US that's in holiday mode, it seems, with financial markets a little flat on Thursday. Thanksgiving has naturally left a massive void in the markets and conditions aren't likely to dramatically improve until next week, with many surely making the most of it and enjoying an...

Slow Start For EU Stocks But Bitcoin Tanks

European markets started on the back foot this morning as energy stocks and financials saw some early weakness, with shares in Lloyds falling 3% at the open. However, it remains to be seen whether the weakness for the major EU indices can last long given that the underlying sentiment...

BTCUSD Watching $17,400

Bitcoin has incurred a heavy technical sell-off after the pioneer cryptocurrency crashed by over $1,500 within a period of less than two hours. Technical analysis shows that a head and shoulders pattern may be forming, with the neckline of the bearish pattern located around the $17,400 level. Traders that...

BTCUSD Looking Higher

Bitcoin is holding above key weekly resistance in early Thursday trade as the pioneer cryptocurrency continues to set new multi-year trading highs. Technical analysis is showing that the BTCUSD pair could reach the $20,600 area before a meaningful pullback occurs. Lower time frame analysis is showing that a bullish...

BTCUSD $20,000 Incoming

Bitcoin has rallied to a new 2020 trading high after the number one crypto smashed past the $19,000 resistance barrier with relative ease. Higher time frame analysis shows that the $20,600 level offer the strongest form of resistance above the $20,000 level. Traders that are bullish towards the BTCUSD...

Transition Time, Housing Shines, Confidence Misses, Dollar Drops, Oil Pops, Gold Plops, Bitcoin Eyes Record

Wall Street is increasingly betting on cyclicals now that the Trump administration has given the green light to the formal transition process to President-elect Biden. The General Services Administration (GSA) acknowledged President-elect Biden as the winner and will release the necessary resources and services that will allow his team...

Oil Steady, Gold Drops Close to USD1800

Oil has sights on summer peak Vaccine news has been very kind to oil prices and the AstraZeneca/Oxford announcement was the catalyst for them finally breaking above post-summer ranges after multiple failed attempts. Brent and WTI both now have their sights set on the summer highs around USD47 and USD44.50,...

BTCUSD Correction Possible

Bitcoin is struggling to overcome the $19,000 resistance level in early-week trading, further increasing the chances of a short-term technical correction. Technical analysis over the short-term suggests that the BTCUSD pair could correct back towards the $16,000 level. A breakout below the $17,700 support level is currently required to...

Buzz Back in the Markets

There's a bit of a buzz back in the markets on Monday, as AstraZeneca and University of Oxford announced results of its vaccine trials. The light at the end of the tunnel is shining a little brighter this morning. The results of the trial on the face of it look...

BTCUSD $19,000 High

Bitcoin is set for another important trading week, after posting its second-highest ever weekly price close above the $18,000 level. The $19,000 level is now acting as key technical resistance and is a key level that BTCUSD bulls must break this week. Failure to break the $19,000 level could...

Forex Forecast and Cryptocurrencies

First, a review of last week's events: EUR/USD . Last week, we talked again about complete uncertainty in the market, when investors just shrug their shoulders, not knowing what to expect in the near future. And then the forecast was appropriate: 50% of the experts sided with the bulls, 40%...

Week Ahead: US Thanksgiving and Another Brexit Deadline

Traditionally,  Thanksgiving week in the US tends to be more on the quiet side.  With the holiday on Thursday and a half day on Friday, many people take some or all of the week off.  However, as we have seen so far in 2020, this year is different.  While...

Week Ahead – Let the Battles Commence

Focus back on fiscal response It appears we’re moving seemlessly from one major risk to another at the moment in the markets. The election is still technically live, Covid is spreading like wild fire and battles are commencing in Washington and Brussels as households and businesses line up for support...

BTCUSD $17,500 Holds

Bitcoin is attempting to gain traction above the $18,000 resistance level after sellers failed to hold price below the neckline of a large bearish head and shoulders pattern on the lower time frames. A breakout above the $18,500 level could cause the BTCUSD pair to rally towards the $18,800,...

BTCUSD Looking Lower

Bitcoin is starting to struggle with the $18,000 resistance level as traders remain cautious after yesterday’s heavy technical rejection from the $18,500 level. A bearish head and shoulders pattern is warning that the BTCUSD pair could decline sharply if price slumps below the $17,500 level. Medium-term traders may also...

Bitcoin, Haven Or Tulip Mania?

Bitcoin rally continues Bitcoin's inexorable march higher continued overnight, climbing 1.55% to USD17,912.00, disguising yet another USD1000+ daily range. Bitcoin has been on a steadily upward track since well before the US elections, and more so than gold, has become perhaps the preferred safe haven of choice of the digital...

BTCUSD $18,500 Resistance

Bitcoin has started a huge technical correction lower after the number one cryptocurrency surged towards the $18,500 level earlier this morning. Traders that are bullish towards the BTCUSD pair may look to buy into the latest dip around the $17,250 to $17,500 area. Higher time frame analysis shows that...

BTCUSD $18,000 Possible

Bitcoin has rallied to yet another new high, as the ongoing breakout rally in the pioneer cryptocurrency shows few signs of stopping. Technical analysis shows that the $18,000 level is the next major upside target now that the $17,250 resistance level has been broken. Traders that are looking to...

BTCUSD $16,900 Resistance

Bitcoin is trading towards the top of its yearly trading range, with the number one cryptocurrency finding interim resistance from the $16,900 level. A breakout above the $16,900 level exposes further upside towards the $17,250, and possibly the $17,800 level. To the downside, any technical pullbacks are expected to...

BTCUSD $17,200 Target

Bitcoin is continuing to advance to fresh multi-year highs, with the number one cryptocurrency closing in on three-year trading high. BTCUSD bulls next major upside target past $17,000 is likely to be $17,200 level, which is a key swing high for late-2017. To the downside, the $17,490 level is...

Stocks Boosted by Moderna’s Vaccine News, China’s Trade Deal, Empire Survey, Oil, Gold, Bitcoin

US stocks raced higher on Moderna’s upbeat vaccine news, which along with Pfizer’s vaccine raise expectations for a return to pre-pandemic life before next winter. The rotation into value stocks continues as the best-case vaccine scenarios unfold. Last week, Pfizer gave hope that vaccine progress was getting us closer...

BTCUSD $16,170 Key

Bitcoin has another important trading week ahead as the bellwether cryptocurrency looks set to post a seventh-straight week of gains. Technical analysis shows that the $16,700 level is the next major upside target above the former weekly trading high. Traders should note that the January 2018 trading high, at...

Forex Forecast and Cryptocurrencies Forecast

First, a review of last week's events: EUR/USD. Last week, we started talking about complete uncertainty in the market, when investors just shrug their shoulders, not knowing what to expect in the near future. Yes, Joe Biden has won the presidential election. It seems to have won. Since Donald Trump's team...

BTCUSD $17,000 Possible

Bitcoin has rallied to a new 2020 trading high after storming past the $16,000 level and has also performed its highest daily price in nearly two years. Technical analysis shows that the BTCUSD pair could rally towards the $17,000 area without staging a meaningful price pullback. Traders that are...

BTCUSD Watching Wedge Break

Bitcoin is gaining upside momentum as the number cryptocurrency repeatedly tests towards the $16,000 resistance level. Lower time frame analysis shows that the BTCUSD pair has successfully performed a breakout from a descending broadening wedge pattern. According to the overall size of the bullish patter, the BTCUSD pair could...

BTCUSD Bulls Return

Bitcoin is finally starting to receive strong buying interest once again, as the pioneer cryptocurrency tests towards a two-year trading high. Traders that are bullish towards the BTCUSD pair may be targeting an eventual rally towards the $17,000 resistance level this week. Multiple daily price closes above the $16,200...