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.
BOE increased its quantitative easing program
2022-06-06 • Updated
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading below the cloud. Further pressure from sellers will lead the pair lower.
XAG/USD: Silver moves on 23.6% retracement level. It seems that silver buyers forming a bullish flag.
European Market View
Democrat Joe Biden inched closer to winning the White House while President Donald Trump escalated his unprecedented efforts to cast doubt on the election's integrity.
Biden, the former vice president, was chipping away at the Republican incumbent's leads in Pennsylvania and Georgia even as he maintained narrow advantages in Nevada and Arizona, moving closer to securing the 270 votes in the state-by-state Electoral College that determines the winner.
The Bank of England increased its quantitative easing program by more than expected, paving the way for bigger government borrowing to deal with an expected double-dip recession.
The Bank expanded the envelope of its asset purchases by 150 billion pounds ($195 billion), or around 7% of U.K’s GDP, supporting that the economy to contract in the fourth quarter and to face extra headwinds at the start of next year from the end of the post-Brexit transition period.
EU Key Point
- Nikkei 225 closes up by 0.91% at its highest level since 1991
- Japan finance minister Aso supports that It is up to the BOJ to decide on monetary policy
- Trump's lead in Pennsylvania continues to narrow through the night
- Germany posts record 21,506 new daily coronavirus cases in latest update today
- Oil has been steadily losing ground during Friday in Asia
US100 broke through the strong resistance trendline, following July's inflation numbers on Wednesday, which were less than analysts expected…
Powell wants a soft landing for inflation, as Greenspan did in 1994. But it looks like he will get a hard landing.
Let's start off with a look at the Daily timeframe on Bitcoin. We currently see price reacting to the rally-base-rally demand zone between the 15,600 - 14,300 price area. Price also seems to have found support off the trendline support as marked in the image above. Interestingly, this means the overall bias on BTCUSD is Bullish.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.
The views here are solely based on Technical Analysis techniques using my personal Smart Money approach. Hence, it is important to understand that the trading of CFDs comes at a risk; if not properly managed, you may lose all of your trading capital. To avoid costly mistakes while you look to trade these opportunities, be sure to do your own due diligence and manage your risk appropriately.