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
Bearish
Oil - US Crude
Bearish
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
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
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: https://t.co/ADSC4sIHrP https://t.co/roqwTv3eyP
  • 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: https://t.co/KDjIjLdTSk https://t.co/ghcFd5ufaD
  • 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: https://t.co/fYgcMxImlP https://t.co/kkekBVYvhV
  • 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: https://t.co/9S5tXIs3SX https://t.co/VwIkOMpvYl
  • “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: https://t.co/Sy3g6HGLrR https://t.co/aRfVCRZut3
  • 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: https://t.co/rJznrXkcYz https://t.co/uUh18lR3yK
  • 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: https://t.co/zTTk2WOrj9 https://t.co/q5oBalZieU
  • 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: https://www.dailyfx.com/forex/video/daily_news_report/2020/12/05/SP-500-and-EURUSD-Rallies-Face-Different-Conviction-Questions-.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/YfEXEhkbhl
  • 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:https://t.co/Slu7tHo2a4 https://t.co/9am4szeia1
Bitcoin & Ethereum Technical Overview – Price Levels to Watch

Bitcoin & Ethereum Technical Overview – Price Levels to Watch

2018-01-05 09:37:00
Paul Robinson, Strategist
Share:

Highlights:

  • Bitcoin appears to be basing, but if it declines a bit spot lies below
  • Ethereum just recorded fresh highs, support not far below on weakness
  • Ripple’s vertical rise in need of a correction

New to Cryptocurrencies? Check out this introductory guide.

Bitcoin appears to be basing, but if it declines a big spot lies below

Bitcoin has been taking a breather the past three weeks as other cryptocurrencies have seen strong interest. A rotation in flows. Overall, Bitcoin looks to be digesting gains and building a base. At the moment, there is a slightly negative tone to the chart off the December high, with the possibility of another lower-high forming right around current levels below the 12/27 swing-high. Should we see a lower-high develop into further weakness there is significant support down around 11250, where a slope lies from May with multiple inflection points. It’s a good distance from here and well off the nearly 20k-mark seen last month. But a decline of 30-50%, as we’ve seen, is a fairly normal occurrence for these volatile markets. If a decline doesn’t materialize, a break above 16480 could set into motion a rally to new highs.

BTC/USD: Daily

BTC/USD daily log chart

See how retail traders are positioned in Bitcoin and what it might mean – IG Client Sentiment page.

Ethereum just recorded fresh highs, support not far below

Ethereum in less than two weeks has gone from the 600s to over 1000, putting it on the extended side right now. A pullback would do it some good if it is to continue its trek higher. There is confluence of support between the old high and a trend-line in the vicinity of 863. Perhaps we’ll see some profit-taking in ETH/USD, while buyers step into BTC/USD.

ETH/USD: Daily

ETH/USD daily log chart

Ripple’s vertical rise in need of a correction

Ripple is extremely extended at the moment, given the run from $0.20 to over $3.00 in the past month. It has become a major player almost overnight, but its currently extended state suggests risk of a sharp reversal is growing with each tick higher. This is one we’d choose to stand aside on in favor of basing price action before seeing it perhaps make yet another move to the top-side.

XRP/USD: Daily

XRP/USD daily log chart

---Written by Paul Robinson, Market Analyst

To receive Paul’s analysis directly via email, please SIGN UP HERE

You can follow Paul on Twitter at @PaulRobinsonFX

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

DISCLOSURES