ONLINE FOREX BROKER
2019-11-11 • Updated
We have seen that the bears have resumed the reins of the price action in Bitcoin, which is trading below the 50-hour moving average, after having encountered resistance at the level of 9609. The 50-hour moving average is approaching the Fibonacci level of 50% at 8640, where the bulls would be waiting to steal the turn of the bears.
The Chinese government is currently evaluating the possibility of implementing Blockchain solutions in terms of its data storage operations. In the United States, a law on payments based on cryptocurrency has overcome a major obstacle on the part of a committee last Monday, which gives rise to tax impositions for those who own crypto assets.
The RSI indicator is moving in oversold area and the MACD indicator remains in negative territory, which is a strengthening of the bearish trend in the short term, although this may be short-lived. It is worth noting that the support level of 8033 continues to be an obstacle of interest for sellers.
What do we expect?
According to our forecasts in the short-term, the BTC/USD pair could extend the corrective move in the short term towards the 200-hour moving average, where we expect consolidation movements. Because the RSI is in an oversold zone, we could be validating the idea of a rebound that allows the cryptocurrency to break the highs of April 25th to go towards the Fibonacci level of -23.6% in 10066.
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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