ONLINE FOREX BROKER
2019-11-11 • Updated
The bearish pressure remains in the Bitcoin, although during the April 5 session we did not see major changes in the price structure. The 200-hour moving average is still validated as a strong dynamic resistance across the board and we still do not see an invalidation of the bullish divergence formed in the MACD indicator.
The latest news about crypto space comes from the United States and Mexico. The governor of Arizona signed a decree that allows corporations to use blockchain-based platforms to legally store information. In addition, the Mexican government announced that there is an ongoing project based on blockchain to reduce corruption in the awarding of government contracts.
The price action remains weak, although there are slight attempts to resume the bullish bias because the Parabolic SAR is showing some bullish signals. It is important to note that the 50-hour moving average is coinciding with the 200-hour moving average, which is a strong resistance at the psychological level of 7,000.
What do we expect?
According to our forecasts in the short-term, the BTC could enter a consolidation phase that could last several more days. In case of breaking the support level of 6281, the cryptocurrency could strengthen the bearish bias towards the level of 5475, which puts the focus at the psychological level of 5000. If we see a rebound in current levels, Bitcoin would seek to resume the bullish trend towards the resistance level of 7586. However, there would still need more signs to confirm a change in the current trend.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
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.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
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