USD/TRY saw a sharp retracement higher on Monday, despite positive rhetoric from the head of the CBRT. The pair appreciated more than 3% on the day, surging above last week’s highs around 7.80 to settle closer to 7.90. USD/TRY surged higher on … [Continue reading]
S&P 500 Index: There is room for a 3% rise before reaching equilibrium – Natixis
Analysts at Natixis estimate that the US stock market index is almost at its equilibrium level, but that the eurozone index is still 20% below its equilibrium level. Key quotes “The economic policy being conducted (massive fiscal deficits … [Continue reading]
EUR/USD: Vaccine optimism encourages the euro
EUR/USD has been rising in response to optimism about a coronavirus vaccine but the lockdown-related slowdown and political uncertainty limit the upside move. Meanwhile, Monday's 4-hour chart is showing a bullish bias and a well-defined range, Yohay … [Continue reading]
Monero Price Analysis: XMR stares into the abyss as CipherTrace voes to de-anonymize the coin
CipherTrace files two patent applications for Monero tracing software. The technical indicators imply that XMR may be ready for a correction. Monero (XMR), the 16th largest digital asset with the current market capitalization of $2.2 billion, has … [Continue reading]
USD/TRY Price Analysis: Keeps bounce off 100-day SMA above 7.6500
USD/TRY extends recovery from two-month low while piercing 50% Fibonacci retracement off-late. One-week-old falling trend line lures buyers ahead of 50-day SMA. Bearish MACD, immediate resistances question the bullish momentum. USD/TRY flirts with … [Continue reading]
UK Chancellor Sunak: Should not sign EU deal at any price – The Guardian
As the UK and the European Union (EU) enter the key week for the Brexit negotiations, UK’s Chancellor Rishi Sunak recently crossed wires, via The Guardian. The Finance Minister (FM) Sunak marked optimism towards reaching a trade deal with the bloc … [Continue reading]
USD/CAD Weekly Forecast: Hurry up and wait
USD/CAD weakens on US COVID-19 economic concerns. Potential for further Federal Reserve easing adds weight. Canadian Retail Sales stronger than forecast. Modest crude oil rise aided the Canadian dollar. FXStreet Forecast Poll suggests consolidation … [Continue reading]
Top 3 Losers of The Week Uniswap, Aave, Compound: these three altcoins fail to join the recovery
Uniswap falls victim to the liquidity mining program expiration. Aave bulls are struggling on approach to strong resistance. Compound will gain ground once $130 is cleared. The cryptocurrency bulls have been roaring back, driving all major … [Continue reading]
Ethereum Price Analysis: Growth ETH 2.0 sends the price to the moon adoption
Ethereum hits the highest level since July 2018 amid growing ETH 2.0 adoption. On-chain metrics imply that ETH may continue moving upwards. At the time of writing, Ethereum (ETH) is trading at $540. The second-largest digital asset with the current … [Continue reading]
Top 3 Gainers of The Week YFI, Waves, XRP: These altcoins defy gravity, gain over 50% on a weekly basis
These three altcoins capitalized on the cryptocurrency market optimism. Waves, YFI and XRP gained over 50%, but the correction may follow. The cryptocurrency market has been on fire recently. Bitcoin broke above the critical resistance of $18,000 … [Continue reading]