ONLINE FOREX BROKER
2019-11-11 • Updated
The Bitcoin again managed to consolidate the price action below the 200-hour moving average and the support offered by the Fibonacci level of 123.6% in 7997 continues to be the pivot for this week. It is to remember that bears continue to dominate the cryptocurrency field in the short term, so we do not rule out the idea of a break in the low of May 18.
However, the Parabolic SAR is beginning to show signs of exhaustion, so it is possible that there is an attempt to resume the upward trend. The MACD indicator still shows bearish potential and the RSI is still in favor of negative territory, which puts the psychological level at 7000 in focus.
What do we expect?
According to our forecasts in the H1 chart, the BTC could attempt to break the support level of 7997, since the path would be clearing to visit the key Fibonacci zone of 161.8% in 7616. However, a rebound in current levels it could lead the cryptocurrency to reach new heights and break the resistance level of 8729, in order to strengthen the uptrend in the short term.
The Netflix stock (NFLX), with a market cap of $145.17B and a whooping 10 000+% rise since its inception 16 years ago, experienced some turbulence for a short period last year while trading around the $250 share price. However, the NFLX stock quickly recovered and rose to over $300 towards the end of the previous quarter of 2022.
The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
US100 broke through the strong resistance trendline, following July's inflation numbers on Wednesday, which were less than analysts expected…
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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