News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Mixed
More View more
Real Time News
  • We've taken out short-term support on $SPX. Bigger levels below though. For this index, it is 4,000. For the Nasdaq 100, which has a floor more immediately at hand, it is 13,000 https://t.co/KeHxTw81Ht
  • Heads Up:🇺🇸 Monthly Budget Statement (APR) due at 18:00 GMT (15min) Expected: $-220B Previous: $-660B https://www.dailyfx.com/economic-calendar#2021-05-12
  • US Dollar Rip, Dip, Rip Around CPI: EUR/USD, USD/CAD https://www.dailyfx.com/forex/video/live_events/2021/05/12/usd-rip-dip-rip-around-cpi-eurusd-eur-usd-usd-cad-usdcad.html
  • Heads Up:🇺🇸 Fed Harker Speech due at 17:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-12
  • EUR/USD pulls back from a fresh monthly high (1.2182) even as the European Central Bank (ECB) slows the pace of the pandemic emergency purchase programme. Get your $EURUSD market update from @DavidJSong here:https://t.co/bBDJlErqVI https://t.co/aA6wqLygPE
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.93%, while traders in GBP/USD are at opposite extremes with 69.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HQJH0sy4AD
  • Heads Up:🇺🇸 Fed Bostic Speech due at 17:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-12
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.22% Gold: -0.76% Silver: -1.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/fRX841FAfC
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.16% 🇬🇧GBP: -0.56% 🇨🇭CHF: -0.60% 🇯🇵JPY: -0.89% 🇦🇺AUD: -1.47% 🇳🇿NZD: -1.61% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/nZKnhhjNMy
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.19% Germany 30: -0.28% France 40: -0.32% Wall Street: -1.32% US 500: -1.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/FbBNVFy3wI
Cryptocurrency: Bitcoin Charts Show Conflicting Signals; Ethereum Falls

Cryptocurrency: Bitcoin Charts Show Conflicting Signals; Ethereum Falls

Nick Cawley, Strategist

- Bitcoin stuck in a rut.

- Ethereum weekly losses exceed 20%

Looking for fresh trading ideas? - Get your free DailyFX Third-Quarter Trading Forecast and Trading Guide here.

After a tough week in the cryptocurrency space with all major digital currencies registering a negative performance, market heavyweight BTC has stabilized and may be looking to re-coup some of its losses.

A look at the daily chart shows a potential bullish pennant formation, although the lower-high/higher-low pattern normally seen is not quite so distinct.

Chart: Bitcoin Daily Timeframe (February - July 14, 2017)

Cryptocurrency: Bitcoin Charts Show Conflicting Signals; Ethereum Falls

Chart by IG

The four-hour chart however signals a potential for BTC to move even lower as the recent downturn has seen the currency move below its 20-, 50- and 100-day exponential moving averages (ema). The break lower was confirmed on July 9 with a bearish crossover with the 20- and 50-day ema below the 100-day ema. The momentum indicator also has moved from positive to neutral.

Chart: Bitcoin Four-Hour Timeframe (June 26 – July 14, 2017)

Cryptocurrency: Bitcoin Charts Show Conflicting Signals; Ethereum Falls

The second-largest digital currency Ethereum (ETH) has also suffered heavy losses this week, falling by around 20%. With most explanations of this week’s fall based on personal opinion rather than market specifics or technical releases, ETC may be in for a continued rough ride in the weeks ahead.

Chart: Ethereum Five Day Chart (July 10-14, 2017)

Cryptocurrency: Bitcoin Charts Show Conflicting Signals; Ethereum Falls

Chart by TradingView.

Market Moves/Capitalizations – July 14, 2017.

Cryptocurrency

Price/Change%

Market Cap

BITCOIN

$2360 -1.24%

$38.820bn

ETHEREUM

$206.1 -4.10%

$19.22bn

RIPPLE

$0.197 -2.84%

$7.558bn

LITECOIN

$46.18 -1.14%

$2.400bn

ETHEREUM CLASSIC

$18.48 +0.36%

$1.728bn

If you are interested in trading, please check out next week’s free webinarswhere our analysts discuss a wide range of technical analysis, charts, trade set-ups and sentiment across a range of assets.

--- Written by Nick Cawley, Analyst

To contact Nick, email him at nicholas.cawley@ig.com

Don't trade FX but want to learn more? Read the DailyFX Trading Guides

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES