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.
EUR/USD: no one wanted to give up
2019-11-11 • Updated
Recommendation: out of market
On the daily chart, the pair’s fate will depend on bulls’ ability to move the price towards resistance at 1.1695. In case of failure, the risk of reaching 200% target of AB=CD with the following formation of “Wolfe waves” pattern will increase. A break of resistance will create a ground for euro’s advance to $1.1750 and $1.1880. At these levels positions of sellers are strong.
On H1, the end of forming a “Widening wedge” doesn't guarantee a fast move through the diagonal resistance close to 1.1750. If bulls manage to conquer it, risks of realization of 113% target of the “Shark” pattern will increase.
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.