Risk aversion weighed on risk-perceived currencies, bolstering the safe-haven Japanese Yen. Hawkish commentary by Federal Reserve officials kept the New Zealand Dollar pressured. NZD/JPY Price Analysis: Double top in the daily chart, targets a fall … [Continue reading]
AUD/USD Price Analysis: Bears stay on top, eye break below 0.6650
AUD/USD bears breaking 4-hour supporting trendline. 0.6650 and then 0.6580 will be key milestones to leave the bears fully in control with 0.6550 and 0.6500 eyed. Protests against China's strict zero-COVID policy and … [Continue reading]
GBP/USD: Resistance from the 200 DMA at 1.2176 set to cap initially – Credit Suisse
The GBP/USD spotlight turns to its 200-Day Moving Average (DMA), currently seen at 1.2176. Economists at Credit Suisse expect Cable to struggle to surpass this hurdle. Support at 1.2025 needs to hold to keep the immediate risk higher “We look for the … [Continue reading]
UK to suffer negative GDP growth for four consecutive quarters – Danske Bank
The UK economy has entered a recession. Economists at Danske Bank expect negative GDP growth for four consecutive quarters and growth not to return until the fourth quarter of 2023. Inflation to stay elevated during 2023 “Q3 GDP figures marked the … [Continue reading]
EUR/USD Analysis: Bulls turn cautious near 200 DMA amid China’s COVID-19 jitters
EUR/USD remains on the defensive for the second straight day amid a modest USD strength. China’s COVID-19 woes weigh on investors’ sentiment and benefit the safe-haven greenback. Bets for less aggressive Fed rate hikes could cap the buck and limit … [Continue reading]
AUD/USD declines towards 0.6700 amid weak Aussie Retail Sales and China’s Covid protests
AUD/USD remains muted on a negative growth in Retail Sales as China’s Covid-inspired risks carry enough weight. Market sentiment has turned cautious amid anti-Covid lockdown protests. The USD Index is holding its gains above 106.00 amid a decline in … [Continue reading]
AUD/USD Price Analysis: Bulls could be tested at 0.6750 resistance
AUD/USD bulls meeting M-formation neckline resistance. The bulls need to commit at the 0.6700 area if there is to be a retest to the downside. As per the prior analysis, AUD/USD Price Analysis: Bulls eye 0.6900s into year-end, the bias remains … [Continue reading]
Binance Coin Price Prediction: Two things need to happen for BNB to hit $450
Binance Coin price has rallied 25% in the last five days and is fast approaching a critical hurdle. A flip of $336 and $358 barriers into a support level will confirm if BNB can revisit $450. Invalidation of the bullish outlook will occur on … [Continue reading]
Litecoin Price: Two reasons why $100 LTC is not coming anytime soon
Litecoin price shows a bearish divergence developing on the daily timeframe, hinting at an incoming sell-off. On-chain metrics reveal that 22% of LTC holders are in profit, further depicting the bearish outlook. A breakdown of the $55.23 level will … [Continue reading]
Does Goldman Sachs stock market forecast apply to Bitcoin?
Goldman Sachs believes that the stock market will drop 9% in the next three months. Since Bitcoin is tightly correlated with the S&P 500, it is highly likely to follow the same path. Strategists at the investment bank are looking at two outcomes … [Continue reading]