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. See our updated Privacy Policy here.

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
Oil - US Crude
Bearish
Wall Street
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
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Heads Up:🇮🇩 Balance of Trade (MAY) due at 04:00 GMT (15min) Expected: $2.3B Previous: $2.19B https://www.dailyfx.com/economic-calendar#2021-06-15
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/dObQjwTEpH
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/K8PLT8SVEb
  • We are within 48 hours of the FOMC rate decision and markets are clearly paying attention. The Dow is struggling while the SPX has edged a fresh record. Meanwhile, the Dollar is a deer in the headlines. I discuss what to expect for Tuesday trade: https://www.dailyfx.com/forex/video/daily_news_report/2021/06/15/Dow-and-SP-500-Diverge-Ahead-of-FOMC-Dollar-Holds-as-Gold-and-Yields-Slide.html https://t.co/J0H5HirVh0
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/kZJKbmUZs7
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.26% Gold: -0.23% Silver: -0.73% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/0B7tF2adjQ
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: -0.00% 🇨🇦CAD: -0.03% 🇨🇭CHF: -0.04% 🇬🇧GBP: -0.06% 🇳🇿NZD: -0.08% 🇦🇺AUD: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/VeKOeAWOt9
  • IG Client Sentiment Update: Our data shows the vast majority of traders in EUR/CHF are long at 75.00%, while traders in France 40 are at opposite extremes with 79.57%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ZYFoi1huEb
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/y0zq7YdcRf
  • Heads Up:🇦🇺 RBA Meeting Minutes due at 01:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-15
Bitcoin (BTC) Price Rally Cracks, Hit by Weekend 'Flash Crash'

Bitcoin (BTC) Price Rally Cracks, Hit by Weekend 'Flash Crash'

Nick Cawley, Strategist

Bitcoin (BTC) Price Forecast, Analysis and Chart:

  • Bitcoin (BTC) trades in a $700 range over the weekend.
  • BTC needs to consolidate if it is to push higher.

If you are interested in trading the cryptocurrency market, we have produced aDay Trading Guide to Bitcoin and Other Cryptocurrenciesto help you better understand this highly volatile asset class.

Cryptocurrency Rally Hits Reverse Gear

Bitcoin (BTC) gave back most of last week’s gains in one violent move on Sunday, with the token slumping in value by over $500 in a very short timeframe and trading in a a$700 price range for the day. As with a lot of these spikes and slumps, there was no obvious reason for the move, although futures liquidation has been mooted. On Friday we warned that the weekend provides fertile ground for sharp price action,

As always with this sector, sharp moves either way can occur in a short timeframe, and with the market trading 24/7, care should be taken over the weekend.

IG client sentiment shows that retail customers are 83% net-long Bitcoin, a bearish contrarian indicator.

Bitcoin Bounces off Supportive Zone

We mentioned recently that Bitcoin seems to have found a new support zone between $8,388 and $8,481 and this held over the weekend giving BTC a supportive bounce. The chart also shows that the 200-day moving average – currently at $9,073 - acted as resistance to the recent rally and this indicator will need to be broken and closed above if BTC is to rally further.The short-term pattern of higher lows remains in place despite the sell-off, although for BTC to break its series of lower highs it needs to trade above $9,935, the October 28 high.

Bitcoin (BTC) Daily Price Chart (August 2019 - January 17, 2020)

Bitcoin price chart showing weekend flash crash

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on the latest Bitcoin rally and crash? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

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

DISCLOSURES