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.



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
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
  • (ASEAN Fundy) US Dollar Outlook: SGD, THB, IDR, PHP May Benefit on Slowing Covid Growth, Soft NFPs #USD #ASEAN $USDSGD $USDTHB $USDIDR $USDPHP
  • 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:
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.12% Silver: -0.30% Oil - US Crude: -1.23% View the performance of all markets via
  • RT @Yeap_IG: #IGMorningthoughts: - 89% of #SP500 companies outperformed earnings thus far, but only 0.2% gain in SP500 since start of earni…
  • Gold prices risk forming a "Double Top" pattern - #GOLD chart
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.01% 🇪🇺EUR: -0.05% 🇨🇭CHF: -0.10% 🇨🇦CAD: -0.14% 🇦🇺AUD: -0.17% 🇳🇿NZD: -0.17% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.87%, while traders in Wall Street are at opposite extremes with 74.32%. See the summary chart below and full details and charts on DailyFX:
  • Keppel Corp is seeking to buy Singapore Press Holdings (SPH) for S$2.2 billion following the spin-off of its media assets, and plans to delist and privatize the company - BBG
  • S&P 500 Futures Lift Nikkei 225, Regulatory Risks Hit Chinese Stocks
  • 🇰🇷 Markit Manufacturing PMI (JUL) Actual: 53 Previous: 53.9
Bitcoin & Ethereum Charts – Will Bounces Turn into Rallies or More Selling?

Bitcoin & Ethereum Charts – Will Bounces Turn into Rallies or More Selling?

Paul Robinson, Strategist

The cryptocurrency space continues to shrink in-line with long-term expectations that the group will remain in ‘mania unwind’ mode for the foreseeable future, but that doesn’t mean there aren’t still trading opportunities with volatility expected to remain elevated. Generally, the tilt is lower with intermittent rallies here and there. Today, we’ll look at Bitcoin price action around big support and Ethereum, which has, broadly speaking, held up better than other cryptocurrencies.

See how positioning changes on the IG Client Sentiment page can help identify price direction in cryptocurrencies and other major markets.

Bitcoin head fake below 5920, trend-line resistance in focus

Bitcoin recently dipped below the 5920 level (February spike-low) on a daily basis, but managed to stay above on a weekly closing basis. This is keeping a floor in BTC/USD for now, but if the trend since May is to turn positive, a move above the trend-line since then needs to be broken. If it is we may see a similar reprieve as the one which unfolded in April/May. However, as long as the trend-line puts a cap on the upside, sellers maintain control; but for downward momentum to reassert itself a clear break below the Feb spike-low will be needed.

Check out this guide to learn more about how to trade Bitcoin and other cryptocurrencies.

BTC/USD Daily Chart

BTC/USD daily log chart

Ethereum trending lower, but remains above April low

Ethereum remains above the April lows, a feat many of the others in the group have been unable to do (in some cases price is much lower, looking at you Litecoin). However, it is stuck in a steady downward trend since May just as the others are. This keeps attention focused lower for now, perhaps we’ll see sellers come in and soon take ETH/USD down the April low at 358 soon. A break above the May trend-line, as is the case with BTC/USD too, could have another rally in focus similar to the one seen during the spring months.

ETH/USD Daily Chart

ETH/USD daily log chart

Helpful Resources for Cryptocurrency Traders

Whether you’re a new or experienced cryptocurrency trader, we have several resources to help you;Introduction to bitcoin trading guide, indicator for tracking trader sentiment, and a weekly webinar discussing the latest developments.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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