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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
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
More View more
Real Time News
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • Technical analysis of charts aims to identify patterns and market trends by utilising differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true. Simplify your trading strategy with these four indicators here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • “The UK and EU have agreed to return to the negotiating table to try to agree a post-#Brexit trade deal. But on Friday, a joint statement said ‘significant divergences’ remained.” - BBC News #GBP
  • Multiple time frame analysis follows a top down approach when trading and allows traders to gauge the longer-term trend while spotting ideal entries on a smaller time frame chart. Learn how to incorporate multiple time frame analysis here:
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here:
  • The rising wedge is a popular reversal pattern that is predictive in nature and can give traders a clue to the direction and distance of the next price move. Incorporate the rising wedge in your trading strategy and learn more here:
  • Both the S&P 500 and $EURUSD will enter the coming week with momentum to their back. What can trip up the rallies? What could keep them going? My overview for the week ahead:
  • After the recent strength of EUR/USD, a period of consolidation is likely ahead of two critical meetings: of the European Central Bank and the European Council. Get your $EURUSD market update from @MartinSEssex here:
Cryptocurrency Crash Continues as Sellers Dominate

Cryptocurrency Crash Continues as Sellers Dominate

2018-01-17 10:15:00
Nick Cawley, Strategist

Cryptocurrency News and Talking Points

- Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) all register double-digit losses as Asian sellers hit the market.

- Support levels fail to hold indicating lower prices lie ahead.

Cryptocurrency Market a Sea of Red

The digital coin bloodbath continued overnight with sellers completely dominating price action, sending the whole cryptocurrency market lower, with 24-hour losses hitting 30% in some cases. The latest sell-off has knocked around $100 billion off the market capitalization which currently stands at $505 billion, down from a peak of $830 billion on January 8. The latest capitulation follows days of selling, prompted by fears of a South Korean trading ban and rhetoric from Chinese officials suggesting a further crackdown on cryptocurrency exchanges.

Cryptocurrency Market Capitalization January 17, 2018

Cryptocurrency Crash Continues as Sellers Dominate

DailyFX analyst Chris Vecchio’s latest look at Bitcoin and Cryptocurrency space included a section on the Stages of a Classic Bubble with the graph showing the market firmly camped in the ‘fear’ stage.

Bitcoin (BTC) Technical Support Fails to Hold

Bitcoin support levels have been and gone in short order lately with the chart now showing the Fibonacci 78.6% level of the November 12 – December 17 rally at $8523 as the next downside support. The latest sell-off has also seen the $10,600 double lows of December 5 and December 22 taken out, leaving the market vulnerable to the downside.

Bitcoin (BTC) Daily Price Chart (August 28, 2017 – January 17, 2018)

Cryptocurrency Crash Continues as Sellers Dominate

Ripple (XRP) Downtrend Remains Intact

Altcoin Ripple’s recent surge saw the coin jump from $0.20 to $3.25 in less than a month, making it the second-most valuable cryptocurrency by market cap. The real-time settlement and exchange protocol soared on the back of news that banks were adopting the digital currency, a claim subsequently countered by a New York Times journalist. A look at the chart below shows the recent downtrend firmly in place although yesterday’s low bounced off the 78.6% Fibonacci support level, suggesting a near-term bottom may be in place.

Ripple (XRP) Daily Price Chart (November 20, 2017 – January 17, 2018)

Cryptocurrency Crash Continues as Sellers Dominate

Top 8 Cryptocurrencies by Market Capitalization – January 17, 2018

Cryptocurrency Crash Continues as Sellers Dominate

Cryptocurrency Trader Resources – Free Practice Trading Accounts, Guides, Sentiment Indicators and Webinars

If you are interested in trading Bitcoin, Bitcoin Cash, Ethereum, Ripple or Litecoin, we can offer you a wide range of free resources to help you. We have an Introduction to Bitcoin Trading Guide along with a Free Practice Account. In addition we run a Weekly Bitcoin Webinar and have an IG Bitcoin Sentiment Indicator to help you gauge the market and make more informed trading decisions.

--- Written by Nick Cawley, Analyst.

To contact Nick, email him at

Follow Nick on Twitter @nickcawley1

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