Oil prices declined for the second day in a row on Friday, hitting their lowest level in almost one year on the back of concerns over an increase in global supply and a slowdown in economic growth. Brent, the international benchmark, was down as much as 1.7 per cent at $61.52 in early morning trading […]
The great cryptocurrency crash of 2018 is heading for its worst week yet. Bitcoin sank toward $4,000 and most of its peers tumbled on Friday, extending the Bloomberg Galaxy Crypto Index’s decline since Nov. 16 to 23 percent. That’s the worst weekly slump since crypto-mania peaked in early January. After an epic rally last year […]
Steep losses in Chinese share markets dented Asian equities on Friday as lingering trade war tensions and weak corporate earnings in Europe added to worries about global growth. With U.S. markets closed overnight for Thanksgiving and Japan on holiday on Friday, early trading lacked direction until the sell-off in China brought on more pain for […]
Euro and Pound had risen after the draft declaration between the UK and the European Commission. Market reaction seems very moderate, as it is not the end of the negotiations on Brexit. However, there is a good chance for the currencies to turn towards growth in the long run. The outgoing year can be called […]
The U.K.’s main stock index closed lower Thursday, weighed down by weakness for resource stocks and banks and a strong pound as the outline of a key agreement over Brexit was reached. Investors were jittery after losses late in Wednesday’s session for U.S. equities. Those markets are closed Thursday for Thanksgiving, and will also close […]
Gold rising inside short-term ABC correction (ii) Further gains are likely Gold continues to rise inside the short-term ABC correction (ii) – which started earlier from the support area located between the key support level 1200.00, 100-day moving average and the lower daily Bollinger Band. This support area was further strengthened by the support trendline […]
GBPNZD reversed from key support area Further gains are likely GBPNZD recently reversed up from the key support area lying between the long-term support level 1.8620 (previous monthly low from January) and the lower daily Bollinger Band. The upward reversal from this support area started the earlier short-term impulse wave (iii) – which belongs to […]
An investor update from September pegged completion of the Telegram Open Network — the social media giant’s long-anticipated cryptocurrency project — at 70 percent. Perhaps the most notable element of the report, which was leaked on LinkedIn and had not previously been publicly available, is that the virtual machine (similar in nature to the Ethereum […]
Oil prices slipped on Thursday after U.S. crude inventories swelled to their highest level since December 2017 amid concerns of an emerging global glut, although the potential for a supply cut by OPEC prevented further drops. U.S. West Texas Intermediate (WTI) crude futures, were at $54.35 per barrel at 0534 GMT, 28 cents, or 0.5 […]
Markets diligently tried to defend their positions before the holidays in the USA. American indices had completed the trading on Wednesday almost unchanged, after losing about 4% in first two days of the week. The stocks of the energy sector companies had bounced off by 1-2% following the oil after a 6% plunge in the […]
The broker says the new site represents its “core values as a business” Retail broker FxPro announced the launch of a new website this Wednesday. A page explaining the new design suggests the change is part of a wider rebranding effort on the part of the company. “This is not just a new website,” said […]
It’s too early to write off bitcoin, Ethereum or ICOs due to temporary market blips because the technology is revolutionary. And that won’t change — regardless of whether crypto prices go up or down, says blockchain attorney Stephen Palley. Moreover, Palley does not believe that recent regulatory crackdowns by the US Securities and Exchange Commission […]
EURCAD broke resistance area Further gains are likely EURCAD recently broke through the resistance area lying at the intersection of the resistance trendline from June and the 61.8% Fibonacci correction of the previous sharp downward impulse from September. The breakout of this resistance area should accelerate the short-term impulse wave (c) – which belongs to […]
Cotton reversed from support area Further gains are likely Cotton today reversed up from the support area lying between the strong, multi-month support level 75.00 (which also stopped the price in February and September) and the lower daily Bollinger Band. The upward reversal from this support area stopped the earlier short-term impulse wave 5 – […]
A total of $60 billion has been erased from the value of all cryptocurrencies over the last week, a decline that has many wondering if the ongoing bear market for the asset class has finally come to an end. Defined as a period of depressed activity and sentiment, the bear market has seen the price […]
The intense downtrend of the crypto market is finally having a toll on the best performing digital asset of the month. Ripple (XRP), now the second most valuable cryptocurrency in the market, is no longer up in value on a monthly basis. Throughout the past 30 days, XRP has maintained the $0.5 level relatively well […]
Oil is already in a bear market, but now a fresh, negative pattern is crystallizing in the commodity that has absolutely bludgeoned bulls over the past two months. January West Texas Intermediate crude CLF9, +2.04% on its first full session as the front-month contract, was down a whopping 7.5%, to $52.91 a barrel on the […]
Assets that have shown great performance last year, have again went through another strong decline. Yesterday, Nikkei fell by 2.2%, back to 7-month lows. On Tuesday, DJI had lost more than 2%, subsequent to the decline of the shares of the energy sector, throwing the index back to October’s lows. It seems that for the […]
It looks like the crypto markets may not get a December boost from Wall Street after all. Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), on Tuesday announced that it would delay the launch of its much-anticipated bitcoin futures product until at least Jan. 24, 2019. That product, the Bakkt Bitcoin […]
WTI broke support area Further losses are likely WTI today broke through the support area lying between the key support levels 55.00 (monthly low from November of 2017) and 56.00 (which stopped the price earlier this month). The breakout of this support area continues the active short-term impulse wave C – which belongs to the […]
AUDUSD reversed from resistance area Further losses are likely AUDUSD continues to after the earlier downward reversal from the resistance area lying between the strong resistance level 0.7300 (which stopped the previous correction (4)), 30-week moving average and the 61.8% Fibonacci correction of the previous downward impulse from August. The downward reversal from this resistance […]
Last week’s sell-off seemed to be a turning point for the crypto market. During this week only, the price of Bitcoin (BTC) has fallen by 20%, trading below $4,400 at one point. It is worth noting that this was not a single sharp collapse as last week, but rather a systematic sell-off throughout the day. […]
Bitcoin’s price continues to slide despite the oversold conditions signaled on the technical charts for the last six days. The leading cryptocurrency by market capitalization fell to $4,200 soon before press time – a price low not seen since Oct. 5, 2017 – and was last seen trading at $4,484, according to CoinDesk’s Bitcoin Price […]
Over the past 24 hours, another $25 billion has been wiped out of the crypto market as major digital assets fell sharply in value. Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Stellar (XLM) recorded a loss of 14 percent, 14.5 percent, 45 percent, and 10 percent respectively, demonstrating a large decline in both volume […]
Oil prices edged down on Tuesday morning in Asia as major oil producer Russia adopted a wait-and-see attitude towards OPEC’s potential decision to cut crude output. Crude Oil WTI Futures for January delivery slipped 0.14% to $57.12 a barrel at 10:59PM ET (02:59 GMT) on the New York Mercantile Exchange, while in London’s Intercontinental Exchange […]
The dollar continues to develop a rollback from the multi-month highs, falling to 96.0 on DXY while triggering EURUSD to reach a two-week high, at 1.1450. Nevertheless, dollar’s rollback does not help any other assets, and although the weakening of the dollar usually sets offs growth in the stock and commodity markets, this is not […]
Over the last 24 hours, Ripple (XRP) has fallen by 9.5 percent against the US dollar. Still, it overtook Ethereum (ETH) to become the second most valuable cryptocurrency in the global market. On November 17, XRP recorded an increase in value of around 8 percent during a period in which most major cryptocurrencies including both […]
EURUSD reversed from support area Further gains are likely EURUSD has been rising in the last few trading sessions following the earlier upward reversal from the support area lying between the strong support level 1.1290 (monthly low from August), lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous upward impulse from the […]
Corn falling inside short-term correction Further losses are likely Corn continues to fall inside the short-term corrective wave, which started earlier from the resistance area lying between the strong resistance level 377.00 (monthly high from October) and the upper daily Bollinger Band. The downward reversal from this resistance area created the daily Japanese candlesticks reversal […]
Last week, the US dollar had started off with a confident 0.6% growth, updating the 16-month highs on the dollar index and throwing EURUSD down to 1.1200. However, the American currency has thereafter shifted into a defensive mode, decreasing by 1.2%, as a result of Fed’s dovish comments and lower budget tensions in Italy. Initially, […]
