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/USD: trade the epic breakthrough
2021-01-21 • Updated
GBP/USD is gradually making a big breakthrough both on a strategic and tactical level.
In the long term, 1.37 is the gateway to the highs of 2017. Therefore, the pair is now in the four-year resistance zone. 1.43 is the long-term target for bulls. It may take a few months – or weeks – for GBP/USD to get there. Therefore, if you like position trading – that’s definitely your chance. However, be prepared to see corrections on the way: 1.34 may be a possible checkpoint for a bearish reversal in the long run.
In the midterm, you will see that most the currency pair performance is contained with the channel marked in the below H4 chart. You will note that GBP/USD frequently deviates from the channel and breaks through the border of the channel. So far, going above 1.37 doesn’t cross the upper side, but still – don’t be surprised if it goes down to 1.36 before making another upswing and continuing the mid-term uptrend.
Primary scenario: the price bounces downwards, dips below 1.37, possibly drops to 1.36, reverses upwards again
Secondary scenario: the price goes significantly above 1.37, corrects downwards to touch 1.37 or dip slightly below it, gets back to the upside.
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.