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.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
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
Gold
Bearish
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
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • Emerging market currencies haven’t been treated equally by the effects of global contagion, even if most have suffered to some degree. However withdrawal of investment flows could hit them all. Get your market update from @DavidCottleFX here:https://t.co/QzNoNYgMgP https://t.co/9CV6iZt40j
  • My weekend trading video: 'S&P 500 Rises on Trump China Presser, #NFPs and Rate Decisions Ahead' https://www.dailyfx.com/forex/video/daily_news_report/2020/05/30/SP-500-Rises-on-Trump-China-Presser-NFPs-and-Rate-Decisions-Ahead.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/ZvoGoibzj1
  • Hopes are high for deeper European economic integration as the continent battles back from the coronavirus slowdowns – but will it hold? What impact can this have on #Euro? Find out from @JStanleyFX here: https://t.co/b9ZWRd4cTr https://t.co/gngm5tKqjz
  • The US Dollar could rise against #ASEAN currencies such as the Singapore Dollar as US-China tensions seem to escalate. The Indian Rupee is also looking ahead of local 1Q GDP data.Get your market update from @ddubrovskyFX here:https://t.co/LkEFJViPWY https://t.co/iL7xlHLBiF
  • #Gold has a short-term bullish set-up that may play nicely with USD weakening. The longer and shorter-term path of least resistance remains higher. Get your $XAUUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9LuGP https://t.co/B4MVrg8f6i
  • The AUD may suffer as relations between Australia and China deteriorate amid dwindling growth prospects. Euro traders will be closely watching progress in talks about a €500b recovery fund proposal. Get your market update from @ZabelinDimitri here: https://t.co/LkEFJViPWY https://t.co/Fo1wlWyz8r
  • The US Dollar is attempting to find direction against the Singapore Dollar, Philippine Peso and Indonesian Rupiah as technical levels hold. The Malaysian Ringgit eyes a key trend line. Get your #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/lcSLkOnJgQ https://t.co/4ofHIpGiTm
  • Trump says he needs to see a strong study on China's actions surrounding virus - BBG
  • The Dollar Index has broken below a multi-week consolidation / the May opening-range lows and keeps the focus lower heading into June. Get your $USD technical analysis from @MBForex here: https://t.co/hkm3nIoyeh https://t.co/SzMeNFyPyp
  • RT @fxmacro: COVIDView: A Weekly Surveillance Summary of U.S. COVID-19 Activity | CDC https://t.co/Gtr0sUoyft
Litecoin Price Surges to Yearly Highs as Crypto Rally Continues

Litecoin Price Surges to Yearly Highs as Crypto Rally Continues

2019-06-11 17:05:00
Peter Hanks, Analyst
Share:

Litecoin Price Outlook:

Litecoin Price Surges to Yearly Highs as Crypto Rally Continues

Cryptocurrencies look to continue their formidable run in 2019 with Litecoin the latest to pick up the torch – and the headlines. As one of the best performing digital assets in the year-to-date, and by a large margin for the largest five, Litecoin pressed to yearly highs on Monday and Tuesday. With LTCUSD near $130, the coin has enjoyed a 300% climb in 2019.

Cryptocurrencies Continue to Shine

Litecoin Price Surges to Yearly Highs as Crypto Rally Continues

Data Source: TradingView

After surging through the 23.6% Fib level around $116, LTCUSD attacked $130 – an area which marks the swing high from June 2018. Evidently, resistance has been staged and a daily close above the level would bolster bullish sentiment. Immediate support now resides at the 23.6% level with $100 offering secondary support. Tertiary support can be found slightly beneath around $84 which offered buoyancy in May.

Litecoin Price Chart (LTCUSD): Daily Time Frame (May 2018 – June 2019)

Litecoin price chart (LTCUSD)

While cryptocurrency acceptance and deteriorating emerging market currencies have likely contributed to Litecoin’s incredible year, LTCUSD has single-coin event risk on the horizon which could be influencing its performance.

On August 8, the reward for mining on Litecoin’s blockchain will be halved from 25 coins per block to 12.5 coins – effectively increasing the time it takes to produce a single coin. “Halvings” have been associated with rallies in the past, but past performance is not indicative of future results – and the history of cryptocurrency trading is especially limited. With that in mind, follow @PeterHanksFX on Twitter for technical and fundamental updates on LTC and other cryptos.

--Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

Read more: USO & BIL ETF Demand Driven by Oil Recovery, Rate Cut Odds

DailyFX forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

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

DISCLOSURES

News & Analysis at your fingertips.