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.
GBP Remains Under Pressure
2020-11-05 • Updated
Ichimoku Kinko Hyo
AUD/JPY: The pair is trading above the cloud. Further bullish pressure will lead the currency pair to retest the previous highs.
XAU/USD: Gold moves above 61.8% retracement level. It seems that gold bulls the last hours gain control.
European Market View
Asia equity markets take impetus from the tech-led rally in US as further results of the US election trickled in which shows Biden in the lead. The winner of the US Presidential election has still yet to be declared, although Democrat candidate Biden currently leads in electoral votes. With massive fiscal stimulus likely off the agenda, another wave of near-free liquidity seemed inevitable.
Looking ahead highlights from macroeconomic calendar include, German Industrial Orders, Eurozone Retail Sales, Fed and BoE Rate Decisions, Fed Chair Powell, ECB's Schnabel, de Guindos and Weidmann speeches.
USA Key Point
- Germany posts record daily coronavirus infections of nearly 20,000 cases.
- US election count in state of Georgia - Trump may ask for a recount if he loses.
- Bank of Japan Governor Kuroda says that he will continues to buy ETFs.
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.