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US dollar index tests the 200-period moving average. MA Ribbon indicator shows that the downtrend is almost over. The RSI indicator locates in the middle range and MACD tells the uptrend has just started. In the most likely scenario, after the US Nonfarm Payrolls report, the price will break through moving averages and head towards 93. On the flip side, if it will not, the closest support level is 91.8.
USD/CAD got squeezed between 50 and 200-period moving averages. In case the price holds above the 200-period moving average, it will head towards 1.256 (the 100-period MA) and 1.2596 (Fibonacci 23.6). In another scenario, it will meet 1.24 and 1.231 as these are 50 and 61.8 Fibonacci levels respectively.
HK50. The price has fallen out of the rising wedge and now it is consolidating between 26,240 and 25,980, which are 23.6 and 38.2 Fibonacci levels respectively. It seems that the 38.2 Fibonacci is an extremely important support level as the price could not break it through for 3 times since August 3. That is why we suggest thinking about long trades if the price meets this level again. In this case, targets will be 26,240 and 26,600. Unfortunately, if HK50 breaks the 38.2 Fibonacci level, it might fall to 25,000 and draw a “double bottom” pattern.
The main question for Bitcoin at the moment is: “Can it break through the blue resistance line?” If it does, the bull-market run will happen and the price will skyrocket up to $44,800 and $48,000. Otherwise, the middle-term target will be $29,700.
Yesterday, the release of the US Inflation rate came out lower than the forecasts (0.1% vs. 0.3%). The soft figures pulled the US dollar index down by almost 1%. At the same time, S&P500, EURUSD, and gold strengthened. Today, the Fed will hold a meeting at 21:00 GMT+3. The Federal Reserve is widely expected to raise the interest rate by 50 basis points.
Goldman Sachs turns bullish on China, news from ECB, and Twitter's drama - everything you need to know in one place!
The G20 summit and the US PPI release gave us a lot of volatility to trade on. Luckily, today’s markets may be even more volatile with new vital releases and geopolitical decisions. The daily news report will surely help you!
The news is essential if you want to trade. Don't miss our digest, where we'll tell you about the most interesting events, happening right now.
A new trading week is coming…
News is always important part of the market. What do we expect today?
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