Share: Luna Classic price wipes nine weeks of liquidity during the recent 25% downswing. LUNC could retest the range high near $0.000019500. Invalidation of the countertrend idea would come from a breach of the daily low at $0.000012956. Luna … [Continue reading]
As Ethereum supply on exchanges falls to a five-year low, are investors moving away from selling?
Share: In the last three years, almost 16% of all ETH supply has moved into self-custody wallets. Large wallet holders have also pulled back on investment in the last few months, which has been taken over by smaller wallet holders. Ethereum price, … [Continue reading]
Hedera Hashgraph Price Prediction: Nine days of consecutive decline has investors weary
Share: Hedera Hashgraph price has been trending downwards for nine consecutive days. The decline may continue toward the $0.053 zone. A break above the $0.069 high could invalidate the bearish potential. Hedera Hashgraph price is undergoing a … [Continue reading]
EUR/USD regained 1.0600, extending its gains due to a soft US Dollar
Share: EUR/USD to finish the week above 1.0600 after hitting a weekly low of 1.0533. A risk-on impulse and falling UST bond yields are a headwind for the US Dollar. US ISM Non-Manufacturing data showed the US economy remains resilient. EUR/USD … [Continue reading]
AUD/USD consolidates at around 0.6740 for the week, with traders eyeing Fed speeches
Share: AUD/USD is set to finish the week with solid gains of 0.28%. The US ISM Services PMI was a tick lower than the previous month’s data, signaling the US economy is solid. AUD/USD traders eye Federal Reserve speeches throughout the day. The … [Continue reading]
Australia: RBA expected to hike rates next week – UOB
Share: Lee Sue Ann, Economist at UOB Group, sees the RBA raising the OCR by 25 bps at the March 7 meeting. Key Takeaways “The RBA has stated that its priority is to return inflation to target, and that further increases in interest rates will be … [Continue reading]
Crude Oil Futures: Rebound could run out of steam
Share: Considering advanced figures from CME Group for crude oil futures markets, open interest went up for the second session in a row on Thursday, now by just 234 contracts. On the other hand, volume dropped markedly by nearly 170K contracts after … [Continue reading]
WTI Price Analysis: Oil buyers poke multi-day-old resistance line, $78.30 is the key
Share: WTI crude oil price struggles around two-week high, eases from four-month-old resistance line of late. Recently firmer MACD signals, upbeat RSI (14) hints at the quote’s further upside, 100-DMA acts as additional resistance. WTI bears remain … [Continue reading]
GBP/JPY Price Analysis: Struggles at 164.00, back beneath 163.50
Share: GBP/JPY is about to finish the week almost flat. A multi-month downslope resistance trendline has held the GBP/JPY from re-testing YTD highs. GBP/JPY Price Analysis: Failure to crack 164.00 can pave the way for further downside. The GBP/JPY … [Continue reading]
Gold Price Forecast: Near-term buyers defend the $1,830 area
Share: XAU/USD Current price: $1,835.59 Signs of persistently high inflation maintain market players in cautious mode. Government bond yields keep reaching multi-year highs amid price pressure concerns. XAU/USD lost upward momentum, but buyers are … [Continue reading]