Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
Japan’s Nikkei 225 hit 30,000 and other hot news
Information is not investment advice
Latest news
- Japan’s Nikkei 225 hit 30,000 for the first time since April. Investors believe that the ruling Liberal Democratic party can easily win the current election after the current Prime Minister quit and implement the extra stimulus package.
- Hong Kong’s HK 50 climbed, driven by a continuing upturn in tech stocks and encouraging trade data.
- Global shares are near record highs as concerns that the delta strain may slow down the economic reopening waned.
- The Australian dollar has become volatile after the country’s central bank claimed it will stick to its plan to taper bond purchases. The Australian central bank, however, decided to extend the purchase period from November 2021 to February 2022.
- Oil retreated amid Saudi Arabia’s price cut for Asian b+uyers and demand threats from the outbreak of the delta variant.
- Bitcoin topped $52,000. El Salvador bought 400 coins, which are worth nearly $21 million at current trading levels, ahead of adopting the cryptocurrency as legal tender on Tuesday.
Tech analysis
EUR/USD has reversed down from the 38.2% Fibonacci retracement level of 1.1900. Longtails of the last candles signal that the pair is likely to fall further. If it manages to break below the recent low of 1.1865, it may drop to 1.1850. Resistance levels are 1.1900 and the late June highs of 1.1950.
It’s an interesting situation in the gold chart. XAU/USD has failed to cross the 61.8% Fibonacci level of $1830, but there is no room to fall as there are many obstacles: the 100- and 200-day moving averages at $1815 and $1810. Besides, the lower trend line should constrain the metal from further falling.
Bitcoin has reversed down from $52,500. It is edging lower to the psychological mark of $50,000, which can stop the crypto from further falling.
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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.
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