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
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
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 Hang Seng Index #HSI appears to face an immediate resistance at 29,870 (127.2% Fibonacci extension). Prices surged more than 3% before pulling back slightly in the afternoon trading session. Stock connections registered over HK$ 20 billion net southbound flow today. https://t.co/3J5JNIVopi
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Germany 30 are at opposite extremes with 67.52%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/4BsBWBZvaI
  • Oil - US Crude IG Client Sentiment: Our data shows traders are now net-long Oil - US Crude for the first time since Jan 05, 2021 when Oil - US Crude traded near 5,008.80. A contrarian view of crowd sentiment points to Oil - US Crude weakness. https://www.dailyfx.com/sentiment https://t.co/8PE3J3958F
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.43% 🇳🇿NZD: 0.34% 🇨🇦CAD: 0.27% 🇪🇺EUR: 0.15% 🇨🇭CHF: -0.01% 🇯🇵JPY: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/CCqUPxXb1g
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/H19vRDCpUJ https://t.co/ruKhwAC2Sf
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.74% France 40: 0.60% FTSE 100: 0.56% US 500: 0.39% Wall Street: 0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/NDCTrOVL5r
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Silver: 1.02% Oil - US Crude: 0.42% Gold: 0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/N0Fo4mM16G
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.37% 🇳🇿NZD: 0.34% 🇨🇦CAD: 0.22% 🇬🇧GBP: 0.14% 🇨🇭CHF: 0.01% 🇯🇵JPY: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/IBkW89Ji1M
  • Japanese Chief Cabinet Secretary Kato: Vaccination supply for population to be secured by 1H of this year - BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Germany 30 are at opposite extremes with 66.75%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/KdbuJBLZMr
BTC/USD Outlook: Bitcoin Price Eyes Well Defined Technical Levels

BTC/USD Outlook: Bitcoin Price Eyes Well Defined Technical Levels

Mahmoud Alkudsi, Analyst

BTC/USD Price Technical Analysis

  • Uptrend move loses momentum
  • Key levels to consider on BTC/USD price chart

BTC/USD – Lack of Impulse

On Thursday, Bitcoin retreated to its lowest level in two weeks at $6.485 then rallied after. In the following day, the price closed with a Doji pattern highlighting the market’s indecision at this point.

Alongside that, the Relative Strength Index (RSI) fell from 55 to 51, highlighting weaker uptrend momentum.

Bitcoin PRICE DAILY CHART (FEB 15, 2019 – April 20, 2020) Zoomed Out

Bitcoin daily chart price 20-04-20 Zoomed in
Traits of Successful Traders
Traits of Successful Traders
Recommended by Mahmoud Alkudsi
Traits of Successful Traders
Get My Guide

Bitcoin PRICE DAILY CHART (March 15 – April 20, 2020) Zoomed In

Bitcoin daily chart price 20-04-20 Zoomed in

Looking at the daily chart, we noticed that on April 2 the price climbed to current trading zone $6.540- $7.824. On Saturday, the price pointed lower eyeing a test of the uptrend line originated from the March 30 low at $5.855, then the neckline of double top pattern residing at $6.485.

A close below the low end of the zone could send Bitcoin towards $5.625.Further close below that level may encourage bears to press towards $4.186. Nevertheless, the weekly support levels underlined on the chart (zoomed in) should be considered.

On the flip side, any failure in closing below the low end of the zone may reverse the price’s direction towards the high end of the zone. Further close above that level negates the aforementioned double top pattern, and may cause a rally towards $9.080.Yet, the weekly resistance levels marked on the chart should be watched closely.

Building Confidence in Trading
Building Confidence in Trading
Recommended by Mahmoud Alkudsi
Building Confidence in Trading
Get My Guide

Bitcoin PRICE FOUR Hour CHART (April1 – April 20, 2020)

Bitcoin four hour price chart 20-04-20

Looking at the four-hour chart, we noticed that on April 10 Bitcoin broke below the uptrend line originated from the April 1 low at $6.157.

Yesterday, the market pressed below the uptrend line originated from April 16 low eyeing a test of $6.795. A break below this level may send BTC/USD even lower towards the low end of current trading zone discussed on above on the daily chart. In that scenario, the daily support level underscored on the chart should be kept in focus.

On the other hand, any break above $7.302 may convince bulls to push towards $7.710. Having said that, the resistance level printed on the chart should be monitored.

See the chart to know more about the critical levels in a further bearish/ bullish move.

How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Mahmoud Alkudsi
Improve your trading with IG Client Sentiment Data
Get My Guide

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

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

DISCLOSURES