ONLINE FOREX BROKER
2019-11-11 • Updated
In the last days of weekly trading, we are observing a consolidation, which in turn has established a range contained by the 50-hour moving average. The Bitcoin is currently finding support at the level of 7997, where the Fibonacci zone is of 123.6%, according to the reading of cycles that we have made in the short term.
It is not at all a secret the cryptocurrency has seen the buyer interest vanish above the level of 8000, which weakens the instrument in the short term. Chinese billionaire Jack Ma has declared that the Blockchain technology is not a bubble, but he assured that Bitcoin could become one.
The buyer interest could reappear in the next few days, due to the technical context in which the BTC is located. However, it must be borne in mind that the Parabolic SAR continues to exert pressure and this can help new lows to be achieved. The RSI indicator is pointing downwards and remains in negative territory.
What do we expect?
According to our forecasts in the short-term, sellers still have strength and it is likely that price dynamics will behave in favor of this bias. If the support level of 7997 goes down, we could see a bearish extension to the level of 7587, where there is a strong buying concentration. However, rebounds could be limited by the 200-hour moving average.
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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