ONLINE FOREX BROKER
2019-11-11 • Updated
EUR/GBP continues to fall inside the intermediate impulse wave (3) – which started earlier from the resistance zone lying between the resistance level 0.8800 (previous buy target), upper daily Bollinger Band and the 61.8% Fibonacci retracement of the previous sharp extended downward impulse from last October. The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Dark Cloud Cover.
EUR/GBP is expected to fall to the next sell target at the support level 0.8630 (former strong resistance level which reversed the previous minor correction 2 in February).
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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…
Powell wants a soft landing for inflation, as Greenspan did in 1994. But it looks like he will get a hard landing.
For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances
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.
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