Ruled – xMetaMarkets.com / Online Innovative Trading Facility Mon, 22 Aug 2022 07:56:58 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 /wp-content/uploads/2022/07/cropped-Logo-menu-32x32.png Ruled – xMetaMarkets.com / 32 32 Drop to 20,000 Can’t be Ruled Out /2022/08/22/drop-to-20000-cant-be-ruled-out/ /2022/08/22/drop-to-20000-cant-be-ruled-out/#respond Mon, 22 Aug 2022 07:56:58 +0000 /2022/08/22/drop-to-20000-cant-be-ruled-out/ [ad_1]

The pair will likely stabilize on Monday and then resume the downward trend to 20,000.

Bearish view

  • Sell the BTC/USD pair and set a take-profit at 20,000.
  • Add a stop-loss at 23,000.
  • Timeline: 1-2 days.

Bullish view

  • Set a buy-stop at 22,000 and a take-profit at 23,000.
  • Add a stop-loss at 21,000.

The BTC/USD price pulled back slightly after last week’s strong sell-off. The pair dropped from this month’s high of 25,168 to a low of 20,699 as the bullish momentum faded. It was trading at 21,460, giving Bitcoin a market cap of over $410 billion.

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Strong US dollar and Tornado Cash crackdown

The BTC/USD pair continued its sell-off as the US dollar resumed its bullish trend. The US dollar index rose to $107 after the relatively hawkish minutes by the Federal Reserve. These minutes revealed that the bank will continue hiking interest rates in the coming months to fight the elevated inflation.

As a result, US bond yields rose while stock indices like the Dow Jones and Nasdaq 100 indices declined sharply and snapped a four-week winning streak. Bitcoin has a close correlation with American stocks. Other cryptocurrencies also declined, bringing the total market cap of cryptocurrencies to about $1 trillion.

The BTC/USD price also declined because of the rising risk of more regulations. This month, the Treasury Department decided to sanction Tornado Cash, a cryptocurrency mixer. The department accused it of helping launder over $7 billion worth of cryptocurrency since 2019.

Tornado Cash is a cryptocurrency mixer on the Ethereum blockchain. It works by obfuscating the origin, destination, and counterparties of transactions. It does this by receiving transactions and then mixes them before sending them to recipients. As a result, there are concerns that the regulators will get more tough on cryptocurrencies.

The BTC/USD price also pulled back as investors started taking profit considering that it managed to move from the year-to-date low of about 18,000 to 25,000. Historically, Bitcoin tends to experience a pullback after an extended period of rallying. The next key catalyst for the pair will be the upcoming Jackson Hole Symposium.

BTC/USD forecast

The BTC/USD pair has been in a strong rebound since June this year. However, the pair struggled to move solidly above the important resistance at 25,000. Last week, it invalidated the ascending triangle pattern by moving below the diagonal line.

It also moved below the 25-day and 50-day moving averages. Now, the Relative Strength Index (RSI) has moved slightly above the oversold level. The awesome oscillator has also tilted upwards. Therefore, the pair will likely stabilize on Monday and then resume the downward trend to 20,000.

BTC/USD signal

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Drop to Parity Can’t Be Ruled Out /2022/07/07/drop-to-parity-cant-be-ruled-out/ /2022/07/07/drop-to-parity-cant-be-ruled-out/#respond Thu, 07 Jul 2022 06:04:21 +0000 https://excaliburfxtrade.com/2022/07/07/drop-to-parity-cant-be-ruled-out/ [ad_1]

It seems like bears are in the drivers’ seat and are targeting the parity level of 1.00.

Bearish View

  • Sell the EUR/USD and set a take-profit at 1.000.
  • Add a stop-loss at 1.0300.
  • Timeline: 1-4 days.

Bullish View

  • Set a buy-stop at 1.0310 and a take-profit at 1.0450.
  • Add a stop-loss at 1.0200.

The EUR/USD pair crashed to the lowest level in over 20 years as the outlook of the European economy worsened. The euro dropped to 1.0235, which was the lowest point since 2002. It has fallen by over 4% from its highest point in June this year.

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European Economy in Turmoil

The European economy is in turmoil as the crisis in Ukraine continues. Most energy companies in the region that have long relied on cheap Russian gas are on life support.

Germany is on the verge of approving almost $10 billion in bailout for Uniper, one of the biggest energy players in the country. It will also provide bailout funds to Handelsblatt, another leading energy company.

These companies have seen their fundamentals worsen in the past few months as the cost of buying gas has surged. They have also been hurt by the decision by Russia to slash its natural gas flows to Europe. Worse, there is a high possibility that Russia will cut off flows to some European countries in the near term.

As a result, there are concerns that the European economy will experience its worst slowdown in decades. For one, many companies in the region have achieved success mostly because of cheap commodities like natural gas from Russia.

Therefore, the EUR/USD pair is crashing as investors anticipate another debt crisis in the region as the European Central Bank (ECB) prepares for lift-off. Analysts expect that the bank will hike interest rates by 0.50% this month.

Looking ahead, the next key catalyst for the pair will be the upcoming minutes of the Federal Reserve. The minutes will provide more information about what the FOMC committee talked about in their June meeting. The pair will also react to the upcoming American jobs data.

EUR/USD Forecast

The EUR/USD pair made a strong bearish breakout on Tuesday as risks of a recession rose. It is trading at 1.0260, which is slightly below the first support of the Woodie pivot point at 1.0300. The pair remains below the 25-day and 50-day moving averages. It also moved below the important support at 1.0347, which was the lowest point this year.

Therefore, it seems like bears are in the drivers’ seat and are targeting the parity level of 1.00. This will likely happen this month as the demand for the US dollar rises.

EUR/USD

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Bitcoin Pullback Can’t be Ruled Out /2022/06/23/bitcoin-pullback-cant-be-ruled-out/ /2022/06/23/bitcoin-pullback-cant-be-ruled-out/#respond Thu, 23 Jun 2022 04:51:48 +0000 https://excaliburfxtrade.com/2022/06/23/bitcoin-pullback-cant-be-ruled-out/ [ad_1]

The short-term outlook for the coin is neutral. 

Bearish View

  • Sell the BTC/USD pair and set a take-profit at 19,000.
  • Add a stop-loss at 23,000.
  • Timeline: 1-2 days.

Bullish View

  • Set a buy-stop at 21,500 and set a take-profit at 23,000.
  • Add a stop-loss at 20,000.

The BTC/USD price drifted upwards as the market mood improved. The pair rose above the key resistance level at 21,000 for the first time since last week. The current price is about 20% above the lowest level during the weekend.

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Market Mood Improves

Bitcoin had a terrible weekend as its price crashed below $19,000 for the first time since 2020. This decline happened as investors continued worrying about the coin’s demand amid a high-interest rate environment. It also coincided with the worst week for stocks since 2020 as the S&P 500 moved to a bear market.

The BTC/USD pair has risen in the past three straight days as mood among investors started improving. This is evidenced by the fact that the closely watched CBOE Volatility Index (VIX) has pulled back sharply this week.

At the same time, stocks are doing well. As Bitcoin held above $21,000, American shares did well, with the Dow Jones rising by more than 600 points. The Nasdaq 100 index, on the other hand, rose by more than 400 points. In the past few months, Bitcoin has had a close correlation with American shares.

The BTC/USD pair is also holding steady as FTX took some measures to stabilize the market. In a statement, the company announced that it was lending $250 million to BlockFi, a crypto lender that has come under strain in the past few days.

Celsius, another cryptocurrency lender, has been forced to suspend withdrawals as it restructures its business. In hopes that the project will bounce back, its cryptocurrency has risen by more than 1,200% in the past few days.

Still, it is unclear whether this recovery will be sustainable in the long term. Some analysts believe that it is a dead cat bounce as investors buy the dip.

BTC/USD Forecast

The four-hour chart reveals that the BTC/USD pair has been attempting its recovery. It has found some resistance at the pivot point. Also, the coin is between the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has tilted upwards. The price is also approaching the Ichimoku cloud.

Therefore, the short-term outlook for the coin is neutral. A move above the resistance level at 22,000 will be positive and signal that there are still more buyers in the market. At the same time, a drop below 20,000 cannot be ruled out. If this happens, Bitcoin will retest the weekend low of below 18,000.

BTC/USD

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Uptick to 1.0900 Cannot Be Ruled Out /2022/06/01/uptick-to-1-0900-cannot-be-ruled-out/ /2022/06/01/uptick-to-1-0900-cannot-be-ruled-out/#respond Wed, 01 Jun 2022 05:04:21 +0000 https://excaliburfxtrade.com/2022/06/01/uptick-to-1-0900-cannot-be-ruled-out/ [ad_1]

The pair will likely keep rising as bulls target the key resistance level at 1.0900.

Bullish View

  • Buy the EUR/USD pair and set a take-profit at 1.0900.
  • Add a stop-loss at 1.0645.
  • Timeline: 1-2 days.

Bearish View

  • Set a sell-stop at 1.0745 and a take-profit at 1.0645.
  • Add a stop-loss at 1.0825.

The EUR/USD upward momentum continued as investors continued to brace for higher interest rates by the European Central Bank (ECB). The pair also jumped after the relatively strong inflation numbers from some European countries.

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ECB Tightening Priced In

The EUR/USD pair rose as investors continued to anticipate potential rate hikes by the ECB. In a blog post last week, Christine Lagarde noted that the bank will likely start hiking interest rates in July and then exit negative rates in September. Her views were shared by several bank officials such as those from Germany and Netherlands.

The sentiment was shared on Monday by Philip Lane, the bank’s chief economist. In a statement to the Cincos Dias, he said that the bank will likely start tightening by adding rates by 0.25%. In saying so, he differed with the Dutch central bank governor who recommended that the bank should hike by 0.50%. The bank’s deposit facility rate is currently at minus 0.50%.

His statement came as the German statistics office published the latest consumer inflation data. According to Destatis, the country’s consumer price index jumped to a record high of 8.3% in May as the cost of living rose. This trend was mostly driven by the cost of food and energy prices.

The same trend happened in Spain, where the headline CPI rose to 8.7%, which was the highest level on record. The harmonized inflation rate in France and Germany also surged to a record high.

The next key data to watch on Tuesday will be the preliminary euro area inflation data. Economists expect the data to show that the headline CPI rose from 7.4% in April to 7.7% in May this year. Excluding the volatile food and energy prices, the CPI is expected to have risen by 3.6%.

EUR/USD Forecast

The EUR/USD pair continued its bullish trend after it formed a break and retest pattern last week. It did that by retesting the important support level at 1.0645, which was the highest level on May 5th. It was also along the neckline of the inverted head and shoulders pattern.

The pair’s uptrend is being supported by the 25-day and 50-day moving averages while the Relative Strength Index has continued rising. Therefore, the pair will likely keep rising as bulls target the key resistance level at 1.0900.

EUR/USD

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Retest of 0.7500 Can’t be Ruled Out /2022/04/22/retest-of-0-7500-cant-be-ruled-out/ /2022/04/22/retest-of-0-7500-cant-be-ruled-out/#respond Fri, 22 Apr 2022 05:16:46 +0000 https://excaliburfxtrade.com/2022/04/22/retest-of-0-7500-cant-be-ruled-out/ [ad_1]

The pair will likely keep rising as investors target the psychological level of 0.7500.

Bullish View

  • Buy the AUD/USD and set a take-profit at 0.7500.
  • Add a stop-loss at 0.7350.
  • Timeline: 1-2 days.

Bearish View

  • Set a sell-stop at 0.7400 and a take-profit at 0.7300.
  • Add a stop-loss at 0.7450.

The AUD/USD pair continued its new bullish trend on Thursday morning as the US dollar started stabilizing. The pair rose to a high of 0.7445, which was slightly above this week’s low of 0.7345. It remains significantly below the highest point this week.

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Australian Economic Recovery

On Tuesday, the International Monetary Fund (IMF) published a relatively dovish outlook of the global economy. It noted that the economy will expand by 3.6% this year, a few points lower than its previous estimate.

It also expects that the Australian economy will slow down due to the ongoing Covid-19 pandemic in China. Precisely, it sees the economy expanding by 4.2% this year, which is in line with the expectations by the Reserve Bank of Australia.

The country’s economy will be helped by the relatively high commodity prices and the fact that the services sector is expected to do well. Australia reopened its borders to vaccinated people in the first quarter of the year. Analysts expect that the RBA will upgrade its view in its May meeting. They also expect that the bank will start hiking interest rates in June this year.

The biggest concern for the Australian economy is that inflation is surging. The most recent data showed that it rose to 3.5% in the fourth quarter. The Australian Bureau of Statistics (ABS) will publish the latest inflation data next week.

The AUD/USD pair rose as the strong bullish momentum eased. The dollar index has dropped to about $99.7, which is substantially lower than the highest point this week. In fact, the dollar has retreated against most currencies like the euro, Japanese yen, Canadian dollar, and the British pound. The next key catalyst will be a speech by Jerome Powell.

AUD/USD Forecast

The AUD/USD pair has made a steady recovery in the past few days. It is trading at 0.7447, which is slightly above the lowest point this week. It has moved slightly above the 25-day and 50-day moving averages. It has also moved above the ascending trendline shown in black. The MACD has moved slightly above the neutral level.

At the same time, the pair is along the highest point in March. Therefore, the pair will likely keep rising as investors target the psychological level of 0.7500. In the medium-term, however, the bearish trend will likely resume.

AUD/USD Signal

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