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
EUR/USD
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
Oil - US Crude
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
Wall Street
Bullish
Gold
Mixed
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • The anti-risk Japanese #Yen may rise versus currencies like the $AUD and $NZD on US-China tensions and fiscal stimulus woes which sank the Nasdaq 100 at the end of last week. Get your #currencies update from @ddubrovskyFX here: https://t.co/Kw0fYCHEcw https://t.co/jiQBPpzat3
  • The #Dollar is down than 3% year-to-date with the index responding to trend support at multi-year lows. Here are the levels that matter on the $DXY weekly technical chart. Get your #currencies update from @MBForex here: https://t.co/MVnF5VDoeN https://t.co/TP2k8u9sXN
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/ioGWvplvt7
  • Based on how US-China tensions and fiscal talks ended this past week, is the Japanese #Yen readying to push higher ahead? Check out the latest #JPY fundamental outlook here - https://www.dailyfx.com/forex/fundamental/forecast/weekly/jpy/2020/08/10/Yen-May-Rise-as-Nasdaq-100-Falls-on-US-China-Tensions-Fiscal-Woes.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/2Km23bVAy2
  • Tech leading the S&P 500 towards record highs, however, China risks rise. FTSE 100 hovers in a lower range. Get your #equities update from @JMcQueenFX here: https://t.co/IJAABNhxjs https://t.co/ZZ6njsuf5O
  • We are heading into the peak of summer yet there are some unexpected trends in key plays. Will complacency or fundamental instability win out? My weekend video: '#Dollar, S&P 500, #Gold - The Potential for Trend, Reversal or Congestion' https://www.dailyfx.com/forex/video/daily_news_report/2020/08/08/Dollar-SP-500-Gold---The-Potential-for-Trend-Reversal-or-Congestion-.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/7KoypvTwcL
  • What are some trading mistakes @nickcawley1 made during his career and what did he learn from them? Find out: https://t.co/40C8Sg5fM6
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:https://t.co/sR7HqpK8BI https://t.co/GZXAbZxL38
  • The Australian Dollar could be on the verge of a major breakout against the US #Dollar as $AUDUSD rates eye a close above pivotal chart resistance. Get your #currencies update from @DanielGMoss here: https://t.co/1y4serFW7h https://t.co/OtqppN7fcp
  • 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/HnzQcAXWLU https://t.co/A517hC0JAG
Ethereum, Ripple & Litecoin Charts Suggest More Pain Ahead

Ethereum, Ripple & Litecoin Charts Suggest More Pain Ahead

2018-07-31 08:03:00
Paul Robinson, Strategist
Share:

Cryptocurrencies, outside of Bitcoin, have failed to garner much attention from buyers, and while the same can be said of sellers, the digestion of losses over the past month is likely to lead to more losses soon. Ethereum, Ripple, and Litecoin are all carving out a similar bear-flag pattern that should lead to another purge of speculative excesses.

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

Ethereum selling to lead to April low at 358 and worse

Weak price action in ETH/USD has it set up to make another leg lower soon. It could continue to drift ever-so-slightly higher, but the developing bear-flag implies risk is skewed more heavily towards the downside. The April low at 358 and worse will be targeted once momentum finds its way back in the crypto sector on breaks of 417 and 405.

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

ETH/USD Daily Chart

ETH/USD daily chart with weak price action

Ripple may soon move apex of H2 ’17 wedge at 25 cents

Ripple started to grow legs in the middle of the month, but that optimism was quashed as quickly as it was built. This has a break of 42 cents as a likely catalyst for selling pressure to once again emerge. The May 2017 peak just beneath 40 cents may help keep XRP/USD afloat temporarily, but we’re still looking for a full reversal of the rally out of the H2 2017 wedge, taking price down to the apex of the pattern at around 25 cents.

XRP/USD Daily Chart

XRP/USD daily chart, still look for full erasing of late-2017 rally

Litecoin could go sub-50 in the not-too-distant future

Litecoin has a nicely developing bear-flag, and with a break of the underside trend-line of the pattern it should be set to see selling begin to pick up again. Once under 70 (considered only a minor form of support), there isn’t anything meaningful until just a shade under 50. There were a few inflection points there from last year, which may give it support. But from here to there leaves a lot of room for selling to dominate.

LTC/USD Daily Chart

LTC/USD daily chart, bear-flag

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.

DISCLOSURES

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.