USD/CAD seesawed around 1.3342-1.3417, ahead of the Bank of Canada monetary policy decision. Analysts expect the BoC to raise rates by 25 bps and to pause. The BoC would release monetary policy minutes for the first time in its history. The USD/CAD … [Continue reading]
EUR/USD Forecast: Euro faces key support at 1.0840
EUR/USD has turned south and declined below 1.0900. The pair is likely to find support at 1.0840. Mixed comments from ECB officials seem to be limiting the Euro's upside for the time being. EUR/USD has lost its traction and declined below 1.0900 … [Continue reading]
Gold Futures: Further correction not ruled out
Open interest in gold futures markets increased for the second session in a row on Friday, this time by around 5.4K contracts according to preliminary readings from CME Group. Volume, instead, reversed the previous build and shrank by around 48.6K … [Continue reading]
USD/INR Price News: Indian Rupee renews 10-week high near 81.00, focus on RBI, US GDP
USD/INR licks its wound after refreshing multi-day low. Strong foreign inflow, broad US Dollar weakness underpins USD/INR slump. Hawkish Fed talks fail to impress USD bulls amid hopes of easy rate hike in February, policy pivot afterward. Markets … [Continue reading]
USD/JPY bears eye 129.00 on BoJ Minutes, focus on US GDP, Tokyo inflation
USD/JPY takes offers to refresh intraday low after BoJ Minutes. BoJ Minutes flashed mixed signals as majority supported easy-money policy, one member criticized YCC tweak. Mixed sentiment, broad US Dollar weakness exerts downside pressure amid … [Continue reading]
Gold, Chart of the Week: XAU/USD trapping longs for a significant squeeze ahead of key red-hot events
Gold price bulls getting jammed in above the prior week's highs in the $1,920s. A phase of distribution could be on the cards with last week's highs a potential spring for the bears to lean against. Gold price made the highest level since April … [Continue reading]
Weekly Recap: Genesis bankruptcy hearing, hackers promote BAYC, US banks receive billions in loans
Crypto lending firm Genesis' bankruptcy hearing is scheduled on January 23. Indian cricket team Royal Challengers Bangalore (RCB)'s Twitter handle was reportedly hacked and changed to Bored Ape Yacht Club. Silvergate and Signature Bank … [Continue reading]
Dogecoin price could trigger an explosive rally to $0.106 if these conditions are met
Dogecoin price has pierced through the hurdle at $0.0813 and is attempting to use it to propel higher. A bounce off this level could catalyze a 10% move to the selling climax at $0.0946. Invalidation of the bullish thesis will occur if DOGE flips … [Continue reading]
Here’s how Binance’s $100,000 limit via Signature Bank affects BNB price
Binance adds a minimum limit of $100,000 for buying cryptocurrencies Binance announced that Signature Bank was limiting its involvement in cryptocurrencies. As a result, the crypto platform’s fiat partner will only execute orders worth $100,000 or … [Continue reading]
XRP Price Prediction: Ripple primed for a 20% breakout
XRP price is knocking on a multi-year declining trend line, hinting an explosive breakout if its breached. Investors can expect a 20% upswing to tag the 200-week SMA at $0.493. Invalidation of the bullish thesis will occur if Ripple slides below the … [Continue reading]