Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Bitcoin (BTC/USD) could perform another bearish correction
The cryptocurrency is still looking for catalysts that allow it to strengthen the bullish bias in the short and medium term, now pointing to the psychological level of 10000. The 200-hour moving average continues to guide the way and the current trend suggests that more bullish action could come, once the Bitcoin makes a correction.
Regarding the latest news about crypto space, an Indian High Court has accepted a petition against the prohibition of the Reserve Bank of India for all services that are related to cryptocurrency. On the other hand, the city of Shenzhen, China, is supporting a blockchain investment fund valued at $ 80 million dollars.
The outbreaks are now set in a bearish movement that could be short-lived and the BTC is waiting for bearish signals from the Parabolic SAR, which continues to support the bullish price action. The MACD indicator stays slightly in positive territory and the RSI seems to be comfortable in the neutral zone.
What do we expect?
According to our forecasts in the short-term, the Bitcoin could fall to the support of 8033, which could be broken to allow another bearish extension towards the Fibonacci level of 50% in 7679. There we expect the bulls to gain traction to make a rally
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.