Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
Market updates on August 27
Information is not investment advice
Key events ahead:
CB Consumer confidence – 17:00 MT (14:00 GMT)
- On H4, the USD/JPY pair has been falling after the test of the 100-period SMA. The price has reached the 105.64 level. If it manages to break it, the next support will lie at 105.51. After that, the retest of the 105.27 level seems possible. In case of a more risky environment, bulls will try to push USD/JPY higher, where the resistance at 106.23 lies. The next level in focus of bulls will be placed at 106.4.
- EUR/USD has been trading with low volumes during the Asian trading session. On the H4, it has been testing the 2-week resistance at 1.1106. If bulls break this level, we will focus on the next resistance, which lies at 1.1137. If the USD gets stronger today on the release of CB consumer confidence, the pair will fall below the 50-period SMA at 1.1098 level. After that, the next support will be placed at 1.1088. If that level is broken, too, keep an eye on the support at 1.1077.
- The cable got support after the comments by the Labour lawmaker Keir Starmer that a no-deal Brexit will be prevented. GBP/USD has risen to the 1.2250 level on H4. If buyers are strong enough to break the current level, the next resistance will lie at 1.2272 (200-period SMA). Sellers will be focused on the breakout of the 1.2211 level. In that case, the next support will lie at 1.2171.
- Gold retested the $1,535 level. In case of risk aversion, the price will likely break the current resistance and target the next key level at $1,555. The near-term target for sellers will lie at $1,525 (50-hour SMA). After that, it is recommended to keep an eye on the $1,508.8 level.
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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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