ONLINE FOREX BROKER
2019-11-11 • Updated
It seems that there is a truce between buyers and sellers in the short term because the Bitcoin is moving around the 200-hour moving average, which could exercise dynamic resistance in the short term. In previous reports, we addressed the idea that cryptocurrency fractured a bearish channel in the H1 chart.
However, this break may not have enough momentum to continue moving upwards. We will have to see how the price action behaves in the next few hours since the Parabolic SAR seems to be pointing to more gains in the short term and the 100-hour moving average is approaching the current price.
As for the crypto space news, the Russian government has finally resolved a disagreement on a draft of a law that regulates cryptocurrency. On the Latin American side, the United States has issued an executive order that prohibits US citizens from buying Venezuelan cryptocurrency Petro.
What do we expect?
According to our forecasts in the short-term, Bitcoin is in a decisive stage for the bulls, since if a bullish cross of moving averages is confirmed, we could see an advance in the direction of the highs of March 12, the which coincide with the Fibonacci level of 38.2% in 9407. On the downside, if the BTC/USD pair breaks below the low of March 18, it could go for the psychological level of 6000.
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…
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
