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.
USD/ZAR: stabilization planned
2020-07-16 • Updated
The South African rand has been following a downward trajectory since its peak in early April. The spike at the beginning of June did not change this trend. It aims at the channel within 15.82 – 16.46: this is the likely zone to where the USD/ZAR will drop to pick up its pre-virus trajectory. Given the fact that the latter trajectory has been strategically bullish, we are likely to see a dip into the mentioned channel, but after that, the USD’s mild appreciation against ZAR will take place again. For this reason, go bearish in the short-term, then moderately bullish in the mid-term.
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.