ONLINE FOREX BROKER
2019-11-11 • Updated
All focuses are now placed on the Bitcoin bulls, as the asset has been moving in an uptrend from the lows of December 30 and according to the graph H1, cryptocurrency is consolidating above the 200-hour moving average. In the short term, the BTC/USD pair finds resistance at the 17.161.30 level and this helps curb the gains.
In the latest news concerning cryptocurrency, according to the coindesk.com website, the Visa debit card provider is deleting these cards in the European continent, in addition to being told to stop providing services related to Bitcoin. In addition, the Indian stock exchange is looking for answers about the tax responsibilities of operating Bitcoin in the country.
Despite this news, the BTC continues to move in a bullish tone, although it is currently consolidating below the 50-hour moving average, after having formed a double top around the aforementioned resistance. It is necessary to remember that cryptocurrency has made a successful rebound on the 200-hour moving average.
What do we expect?
According to our forecasts in the short term, based on the H1 chart, the Bitcoin is following a bearish tone guided by the Parabolic SAR, which remains in favor of the path of the bears. There are still chances that the cryptocurrency will resume the bearish bias and will test the lows of December 30. However, if the bulls gain momentum in the next few hours, the next target would be at the Fibonacci level of 78.6% at 17,916.70.
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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