Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
Market updates on September 13
Information is not investment advice
Key events ahead:
US retail sales and core retail sales – 15:30 MT (12:30 GMT)
- Yesterday, the European Central bank introduced a new stimulus, which included lower rates and fresh quantitative easing measures. EUR/USD pair fell to the support at 1.0929 but managed to rebound and jumped by around 160 pips due to the weaker dollar. Since the beginning of the European trading session, bulls have pushed the pair to the resistance level at 1.1095 (200-period SMA) and have tested the 1.1106 level. The main focus of traders will be on US retail data. According to the forecasts, headline retail sales will increase by 0.2%, while its core level will advance by 0.1%. If the actual figures are higher than the forecasts, the pair will slide below the 1.1065 level. The next support levels in focus will lie at 1.1050 and 1.1036. Alternatively, the disappointing release will weaken the USD. As a result, buyers will be confident enough in retesting the resistance at 1.1106. The next resistance will lie at 1.1116. Strong bullish pressure will push the pair even higher towards the 1.1137 level.
- GBP/USD has taken advantage of the weaker USD and jumped by around100 pips to the resistance at 1.2459. The next direction of the pound will depend on the Brexit headlines. From the upside, it is recommended to pay attention to the 1.2459, 1.2495 and 1.2508 levels. If the USD gets stronger, we will see the slide towards the support levels at 1.2427, 1.2395 and 1.2338.
- USD/JPY has been moving down on the weaker USD. If it continues to fall further, the test of the support at 107.78 will be inevitable. If it is broken, the next key level will lie at 107.62. Buyers will be focused on the retest of the 108.16-10824 levels. If the pair breaks them, the further rise may be limited by the 108.49 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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