Bitcoin has delayed the expected breakout to $40,000, leading to uncertainty and even talks of a possible retreat under $30,000. However, the Reserve Risk indicator from Glassnode suggests that long-term investors are staying put. Meanwhile, the pioneer cryptocurrency is dancing above $36,500 amid…
FUNDAMENTAL EURO FORECAST: NEUTRAL After the recent falls in EUR/USD there are plenty of reasons to still be bearish, including weak German economic growth, another political crisis in Italy and a slow vaccine rollout in the EU. Moreover, little is expected from…
EUR/GBP ANALYSIS: Surging Sterling has pushed EUR/GBP lower, approaching a key area of support Upcoming risk events: UK GDP, UK/EU inflation data followed by ECB rate decision Bearish contrarian outlook: Large divergence between client positioning and momentum suggests selling may continue STERLING SURGED…
CME Group’s advanced readings for crude oil futures markets noted traders added 8.6K contracts to their open interest positions on Tuesday, reversing the previous drop. Volume, instead, went down for the second straight session, now by just 567 contracts. WTI…
Gold (XAU/USD) extended the bounce from six-week lows on Tuesday, finishing the day with moderate gains well above the $1850 level. On Wednesday, the yellow metal gathers pace to test the $1872 hurdle ahead of US CPI, FXStreet’s Dhwani Mehta reports. Key quotes “Gold…
USD/JPY battles the mid-December 2020 high while taking rounds to 104.10/05 during Monday’s Asian session. In doing so, the yen pair rises for the fourth consecutive day despite the coronavirus (COVID-19) risks as hopes of the US fiscal stimulus gain…
AUD/USD struggles to recover the ground lost early Monday despite the upbeat Aussie data released soon before press time. Australia’s Retail Sales growth picked up the pace in November. The US dollar draws bids on the back of rising US…
GBP/USD remains pressured below 1.3600, as the UK covid worries and broad US dollar rebound cap the recovery attempts. The ISM Services PMI will remain in focus amid US political drama. Technical Overview From a technical perspective, the overnight slide…
EUR/USD keeps its range above 1.23 even as the US dollar rebounds after tumbling on expectations for bigger fiscal stimulus under the Democrat-controlled Senate. The euro bulls could regain control if the German data beats estimates. Technical Overview After failing to…
Bitcoin eyes new all-time highs at $50,000 after slicing through the resistance at $35,000. BTC/USD remains in the hands of the bulls and is supported by an improving technical outlook. Bitcoin’s rally resumed on Wednesday as traders ushered in the European session.…
