Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
Facebook news and optimistic US sales
Information is not investment advice
Latest news
- Facebook blocked users in Australia from finding or sharing news. That was a move in response to the Australian laws which forced Facebook to pay for news content. Even charities and health departments are blocked, but the social network claimed that it would unblock non-media accounts soon.
- US retail sales came out much better than was expected. As a result, the US dollar surged. Treasury yields keep rising as investors are still betting on the US economic rebound due to the vaccine rollout. The rise in the yields pressed the gold down to November’s lows.
- US stocks modestly dipped but we can’t claim that the risk-off sentiment came back as commodity prices such as crude oil are still climbing up. In fact, crude oil keeps rising in the US as the deep freeze stopped the oil production and increased the demand for power energy.
Jump in!
Technical analysis
EUR/USD has been moving in an ascending channel since mid-summer. Since it has approached the lower trendline at 1.2030, we can expect the pair to bounce off rather than break out. If it manages to break above the resistance of 1.2100, the way up to the 50-day moving average of 1.2150 will be open.
GBP/USD has broken the psychological mark of 1.3900 and the heading to the high of February 16 at 1.3950. Support levels are at the 50-period MA of 1.3840 and the low of February 12 at 1.3780.
USD/JPY has been moving up but the 50-weekly moving average has stopped its rally. If it manages to break above the key psychological mark of 106.00 again, the way up to the next round number of 106.50 will be open. Support levels are at the 200-day MA of 105.60 and 105.00.
EUR/GBP has been trading in a descending channel since December. It has just broken the supprt of 0.8680. Now it's edging lower to 0.8650, whcih it's unlikely to cross on the first try. Resistance levels are 0.8700 and 0.8725.
Similar
The US Labor Market And Real Estate Market Are In Focus This Week
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.
The US national GDP is in focus next week
What's going on with the US GDP? Economists think that the first quarter will be pessimistic. Let's check.
Popular
Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements.
Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
The US Labor Market And Real Estate Market Are In Focus This Week
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.
Choose your payment system
