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
Oil - US Crude
Mixed
Wall Street
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • US Dollar Price Action Setups: EUR/USD, GBP/USD https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/04/19/US-Dollar-USD-Price-Action-Setups-EUR-USD-EURUSD-GBP-USD-GBPUSD.html $USD $EURUSD $GBPUSD https://t.co/Jyr7pfHhdH
  • RT @CGasparino: BREAKING -- @JoeBiden Admin is in the early stages of developing a regulatory approach to the booming crypto biz, sources t…
  • The US Dollar is in correction within the yearly uptrend with the decline now eyeing initial support objectives just lower. Get your $USD technical analysis from @MBForex here:https://t.co/QLdiJa8z7v https://t.co/95rBic2Ke8
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.03% Gold: -0.29% Silver: -0.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/nj9OGkvt7a
  • The Dollar ($DXY) has cleared both its 50-day SMA and the midpoint of the 2021 range. What has greater pull: its roll as wayward safe haven (vs inverted $SPX) or the recent fade in returns (US 10yr). The 20-day correlation to both approximately ~0.8, strong https://t.co/1dteHRggua
  • US Dollar Index (DXY) trend from last March picking up steam again. February and January lows up next on radar, could take a few weeks. Get your market update from @PaulRobinsonFX here:https://t.co/KCsZINK3KI https://t.co/3EN4Xrxnjn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/9j9ojxURdw
  • RT @ChadPergram: Biden now mtg w/bipartisan/bicameral mbrs about infrastructure. Says they're discussing "how to pay for it." Adds they "ho…
  • $WTI #Crude #Oil Price Outlook: Breakout Eyes Resistance- Bulls at Risk - https://t.co/RuNq3bxxaW https://t.co/784dxJq0m7
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.17% France 40: -0.21% FTSE 100: -0.21% Wall Street: -0.43% US 500: -0.63% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/TOxQi0CN8k
Bitcoin & Ethereum Technical Overview – Price Levels to Watch

Bitcoin & Ethereum Technical Overview – Price Levels to Watch

Paul Robinson, Strategist

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