Share: Elon Musk announced the launch of his ChatGPT competitor - X.AI. Musk is famous for having a unwantedly strong influence over the crypto market. Elon Musk entering the Artificial Intelligence space is set to trigger a reaction among the AI … [Continue reading]
Uniswap whales mark a two-way spike expecting a rally, but UNI is on a different path
Share: Uniswap large wallet holders holding 1 million to 10 million UNI have been accumulating while smaller whales are selling. One of the biggest issues is the lack of presence of investors on the network, as daily active addresses keep under or … [Continue reading]
Traders skeptical about TrueUSD despite TUSD nearing USDT in Bitcoin trading volume on Binance exchange
Share: TrueUSD (TUSD) market share rose to 49%, almost equaling the Tether (USDT) market share. It comes after Binance assigned a zero fee discount to the BTC-TUSD trading pair last month, waiving the promotion from BTC-USDT. Despite the … [Continue reading]
US Dollar Index: Could a double bottom at the weekly chart drive the DXY to 111.000?
Share: The US Dollar Index found bids at around the YTD lows at 100.788. USD bulls must retake 104.000 to challenge YTD high at 105.883 and maintain a double-bottom approach. Contrarily, USD bears must reclaim 100.788 to test the 200-week EMA at … [Continue reading]
AUD/USD reverses course below 0.6700 after hitting resistance at 200-day EMA
Share: Retail Sales in the United States plunged as Industrial Production decelerated. US Consumer Sentiment improved, but the needle on inflation expectations rose. AUD/USD Price Analysis: Could test 0.6600 with a daily close below 0.6700. … [Continue reading]
US: Industrial Production rises by 0.4% in March vs. 0.2% expected
Share: Industrial Production in the US grew at a stronger pace than expected in March. US Dollar Index stays in positive territory above 101.00. Industrial Production in the US expanded by 0.4% in March following February's increase of 0.2% … [Continue reading]
Crude Oil Futures: Outlook is expected to remain bullish
Share: CME Group’s flash data for crude oil futures markets showed traders reduced their open interest positions by around 12.4K contracts on Thursday, while volume reversed three dailu pullbacks in a row and went up by around 294.3K contracts. WTI … [Continue reading]
Gold Price Forecast: XAU/USD gathers strength to capture $2,050 as US economy eyes recession
Share: Gold price is aiming to capture the critical resistance of $2,050.00 as USD Index is eyeing more downside. Reduced borrowing by US banks from the Fed is advocating further slowdown in the US economy. Gold price is on the verge of delivering … [Continue reading]
USD/CAD hovers below 1.3350 after a nosedive move inspired by weak US Inflation outlook
Share: USD/CAD is oscillating near 1.3340 after an intense sell-off inspired by lower US consumer inflation expectations. The USD Index printed a fresh 11-month low at 100.42 as significantly decelerated US PPI joined already softened US CPI. US … [Continue reading]
AUD/USD Forecast: Aussie jumps to test 0.6800, technicals favor a break above
Share: AUD/USD Current Price: 0.6793 Australian labor market remains strong, while it appears to be softening in the US. AUD/USD soars amid risk appetite and weaker US Dollar. Short-term outlook points to more gains despite overbought … [Continue reading]