Digital Revolution: Will Cryptocurrencies Take Over the World? Part II
Part II: Are Stablecoins Really “Stable”? Summary Stablecoins, which are a category of digital currency, have many favorable characteristics. Payments can be settled essentially instantaneously, and “unbanked” individuals can easily use them. Their supplies are not limited, so potential problems...
Stocks Dive after Terrible US Retail Sales, Yen Powers Up
Overall risk sentiment turns sour again following terrible US retail sales data. DOW futures reverse early gains and turn deep red, pointing to a much lower open. Yen is powering up following risk-off sentiment while Aussie is now leading commodity...
GBPJPY Drifts Across 156 Mark as Bullish Rally Stalls
GBPJPY is consolidating between the 156.00 handle and the 157.84 level, which is the 161.8% Fibonacci extension of the down leg from 144.94 until 124.00. The simple moving averages (SMAs) are reflecting a fragile neutral-to-bullish trend in the pair. That...
Gold and EUR/USD Trade Higher: Elliott Wave Analysis
The USD remains bearish after US CPI figures this week that came out around expectations, while PPI yesterday increased by 0.2%, less than expected. The dollar is down even after some weakness on stocks yesterday during the US session. So...
EUR/USD Pair is Consolidating Gains above the 1.1450 Level
The Euro started a steady increase from the 1.1320 support zone against the US Dollar. The EUR/USD pair broke the 1.1380 resistance zone to move into a positive zone. There was also a move above the 1.1400 level and the...
USDCAD Stops Near 200-SMA: Temporary Pause or Bullish Setup?
USDCAD slumped towards the 200-day simple moving average (SMA) at 1.2495 after its bullish efforts to cross above the 50-day SMA and enter the 1.2700 territory collapsed, with the pair set to close 1.40% lower this week. Thursday’s session seems...
GBPUSD Climb Remains Intact Amid Lingering Bullish Forces
GBPUSD has staged a spectacular uptrend movement from late December amid strengthening positive momentum. Moreover, the pair’s successive higher highs together with the recent golden cross, where the 50-period simple moving average (SMA) has crossed above the 200-period SMA, reinforce...
XAG/USD Tests Major Resistance
Silver extends its recovery on the back of a weak US dollar. The metal saw support at the psychological level of 22.00. A break above the resistance at 22.80 and then an acceleration to the upside indicates strong buying interest....
Yen Rebounding on Weaker Risk Sentiment, Dollar Still Very Weak
Yen trades broadly higher in Asian session, following broad based weakness in the stock markets. Nevertheless, mild risk-off sentiment is providing no support to Dollar, nor the hawkish comments from Fed officials. Dollar remains the worst performing one for the...
USD/JPY Starts Fresh Decrease, Key Support at 113.20
Key Highlights USD/JPY started a fresh decline from well above 116.00. It broke a major bullish trend line with support near 115.60 on the 4-hours chart. EUR/USD surged above 1.1400, and GBP/USD rallied above the 1.3700. The US Initial Jobless...