Today, the UK parliament starts the debate on Boris Johnson's Brexit paper. What are the likely consequences for the GBP?
- After several days of consolidation, Bitcoin has started to fall down this week. The digital currency bounced from the $11,560 level and moved below the 50-day SMA. The further downward movement was limited by the $10,060 support level. Bears tried to pull the grandad of crypto lower on Thursday but failed to stick near the 100-day SMA, as bulls took over the market and pushed the price back above the $10,060 level. If bears make another attempt to break the support at $10,060 level, the next key level will lie at $9,857. After that, pay attention to the $9,488 level below the 100-day SMA.
- Litecoin has been falling, too. The digital silver has crossed the 200-day SMA on Wednesday and inched lower. On Friday, it has tested the support at $71,66. If this level is broken, the next support will lie at $67.71. In case of the breakout of that level, the further fall will be limited by the support at $60.58. Technically, RSI lies close to the oversold border, if it leaves this zone, it may provide a buying opportunity. Also, the Stochastic indicator is about to form a crossover there. This may be another sign of positive momentum.
- Ethereum has crossed the 200-period SMA, but bears faced the support at $181.47. If they succeed to break this level, the next support will lie at $170.94. From the upside, bulls need to break the $188 level to rise further towards the $200 level. After that, pay attention to the resistance at $215.17.
- DASH fell below its key support levels during this week and has been targeting the support at $87.5 on Friday. If this level is broken, the next support will lie at $82.45. Otherwise, pay attention to the breakout of the $93.45 level. The next key level will lie at $101.8. If we look at MACD, we can see a bullish divergence here. This may be a sign of a possible reversal.
Read a short market wrap before trading today!
The United States will publish the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT (GMT+3) time on August 6.
Our analyst discusses the latest news and shares his trade ideas on gold, EUR/USD, and S&P 500. Jump in!