Oil Market Rises while Crypto Is In Darger

Oil Market Rises while Crypto Is In Darger

Happy Tuesday, dear traders. Let's check the freshest news, moving the markets today!

  • Analysts believe oil prices are rising due to elevated interest rates and insufficient investment in the industry, which negatively affect the market.
  • Santiment noted one of the largest transfers of ETH to the Coinbase exchange this year — a massive bearish middle-term signal.
  • Goldman lowered its estimate of the likelihood of a US recession to 15% from 20%.
  • The Reserve Bank of Australia kept the rate at 4.10%. The RBA stated further tightening of monetary policy may be necessary as everything will depend on incoming data.
  • Bloomberg says Xi's inexplicable refusal to participate in the G-20 undermines his image as a world statesman. This step becomes another confirmation for investors - China is increasingly unpredictable.
  • Robinhood will buy back its shares for $605 million. The stock is up 5.5% this week.

EURUSD outlook


EURUSD has lost its global support. It is a massive signal for the overall trend reversal. Currently, the closest target for the price is the 1.0640 - 1.0670 support range. However, before the decline the price may retest the breakout moving to the 1.0775 - 1.0805 resistance range. If this happens, it will be a massive opportunity to gain sell positions. 

Have a great day!



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