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81
General Discussion / Re: Daily Market Analytics - Forex
« Last post by FXOpen Trader on March 20, 2024, 10:17:38 PM »
EURUSD Technical Analysis – 20th MAR, 2024

EURUSD – Bullish Trend Reversal


EURUSD started this week on a bearish note touching a low of 1.0834 on 19th March after which we can see that the prices have entered into a consolidation channel.
Today we saw that the prices of EURUSD were able to manage a breakout and we saw the emergence of a bullish momentum with a continuous uptick in the prices of EURUSD.
We can see the formation of Bullish Trend Reversal pattern with the Adaptive Moving Average AMA20, AMA50 and AMA100 in the 4-hourly timeframe.

The MACD indicator is back over zero in the 2-hourly timeframe indicating a bullish tone present in the markets.
Most of the technical indicators are giving a bullish tone with further upsides located at 1.0943 which is a 14-3 Day Raw Stochastic at 80%.
In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0948 at which the Price Crosses 9 Day Moving Average Stalls.

EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.

  • Euro bullish reversal seen above the 1.0936 mark.
  • Short-term range appears to be Neutral.
  • EURUSD continues to remain above the 1.0900 levels.
  • Average true range ATR is indicating high market volatility.

The next resistance is located at 1.0943 which is a 14-3 Day Raw Stochastic at 80%.
EURUSD is now trading above its Pivot levels of 1.0915 and is moving into a Consolidation channel. The price of EURUSD remains above its Classic support levels of 1.0907 and is moving towards its next target of 1.0948.

Disclaimer: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog
82
Stock market today: US stocks rise as Fed holds rates steady, projects three cuts this year



Source: Stock market today: US stocks rise as Fed holds rates steady, projects three cuts this year
83
General Discussion / Re: Daily Market Analysis from NordFX
« Last post by Stan NordFX on March 20, 2024, 02:16:50 PM »
CryptoNews of the Week


– Roger Ver, introducing his new book "The Hijacking of Bitcoin: The Hidden Story of BTC," announced that bitcoin has been captured by a group of insiders. According to this experienced investor, this development has altered the project's philosophy. Jeffrey Tucker, an economist, and the founder of the Brownstone Institute, who contributed to the book, lamented that the story it tells is tragic because the opportunity to change the world with bitcoin was stolen. Bitcoin could have liberated society, but it failed to do so.
Previously, Roger Ver had stated that he considers Ethereum more valuable, despite its lower market capitalisation, because the ETH project does much more for the widespread adoption of cryptocurrencies than bitcoin.

– According to Bitcointreasuries, a significant portion of the first cryptocurrency is owned by various organisations, including government and private investment companies, governments, exchange and investment funds. Together, they hold approximately 12% of the total volume of bitcoins. Around 10% is stored on centralized cryptocurrency exchanges, and another 8.09% belongs to accounts that have been inactive for many years.
The Grayscale Bitcoin Trust, iShares Bitcoin Trust, and Fidelity Wise Origin Bitcoin Fund lead the cryptocurrency market in terms of bitcoin volume, holding 380,241 BTC, 230,617 BTC, and 132,571 BTC, respectively.
Among public companies, MicroStrategy has emerged as the largest holder of bitcoins, with 205,000 BTC on its balance sheet. Marathon Digital holds the second position with 15,741 BTC, followed by Tesla and Coinbase Global in third and fourth places with 9,720 BTC and 9,480 BTC, respectively.
In the realm of private companies, according to available information, Block.one leads in ownership levels with 164,000 BTC. Following it is the MTGOX exchange with a balance of 141,686 BTC. Stablecoin issuer Tether owns 66,465 BTC. The fourth position is occupied by the BitMEX exchange with 57,672 BTC.
In the ranking of bitcoin ownership among states, the USA leads with 215,000 BTC, followed by China with 190,000 BTC, the UK with 61,000 BTC, and Germany with 50,000 BTC.
Adding these figures to the share of the asset attributed to bitcoin's founder, Satoshi Nakamoto (4.76%), it can be concluded that about 35% of mined BTC is unavailable to other private investors. This, to some extent, confirms the conclusion made by Roger Ver.

– Around 48% of voters who own digital assets plan to vote for Donald Trump in the upcoming U.S. presidential elections, according to a survey by Paradigm. Another 38% prefer the current President, Joe Biden, while 13% are undecided about their candidate choice. Additionally, 69% of respondents are dissatisfied with the current state of the country's financial system. 49% of those surveyed stated they do not trust either of the U.S. parties regarding digital asset issues.
The survey data indicates that 19% of registered American voters own digital assets, 7% of respondents own cryptocurrencies valued at over $1,000, and 1% own more than $10,000 worth of cryptocurrencies.

– A British court has ruled that Craig Wright is not Satoshi Nakamoto. The legal proceedings initiated by the Crypto Open Patent Alliance (COPA) against Wright began in 2021. The organisation filed a lawsuit against the businessman to prevent him from claiming intellectual property rights to bitcoin technology. The court has now delivered its verdict: "Firstly, Dr. Wright is not the author of the bitcoin white paper. Secondly, Wright is not the individual who acted under the pseudonym Satoshi Nakamoto from 2008 to 2011. Thirdly, he is not the person who created the bitcoin system. And fourthly, Wright is not the author of the original versions of the first cryptocurrency's software."
Furthermore, the court has suspended two other cases involving Wright – lawsuits against Coinbase and Block. It is possible that a restraining order will be issued to prevent Wright from ever claiming to be Satoshi Nakamoto, though a final decision on this matter has yet to be made.

– India's Finance Minister, Nirmala Sitharaman, has taken a firm stance on bitcoin and other crypto-assets, stating that they cannot be considered real money. According to her, cryptocurrencies are primarily used for trading, speculation, and profit-making. They do not function as traditional currencies issued by central banks and thus thrive solely due to market manipulations.
Ms. Sitharaman highlighted that cryptocurrencies are still unregulated in India, and this issue has been raised at the G20 forum. The minister believes it is crucial for G20 member countries to establish a unified international regulatory framework for cryptocurrencies, which would help manage their risks.

– The Government Pension Investment Fund (GPIF) of Japan, with assets of approximately $1.5 trillion, will consider portfolio diversification options, including the inclusion of the leading cryptocurrency. This initiative is part of an exploration of innovative investment strategies and is a response to economic and social changes as well as rapid technological developments.
Currently, the GPIF invests in traditional assets such as domestic and foreign stocks and bonds, as well as alternative instruments like real estate.

– Analysts at Standard Chartered have revised their bitcoin price target for the end of 2024 from $100,000 to $150,000, with Ethereum potentially reaching $8,000 by the same date. By the end of 2025, the first and second cryptocurrencies could appreciate to $200,000 and $14,000, respectively.
The change in expectations is driven by the excitement around spot bitcoin ETFs and the sharp increase in the asset's price since January. The analysts justified their forecast based on the dynamics of gold following the approval of ETFs and the optimization of the ratio of the precious metal to its digital counterpart at 80% to 20%.
According to Standard Chartered experts, if inflows into ETFs reach $75 billion, bitcoin could increase in value even more – up to $250,000. Actions by sovereign wealth funds could also accelerate growth rates. "We see a growing likelihood that major reserve managers might announce bitcoin purchases in 2024," the analysts say.

– Dan Tapiero, CEO of the investment company 10T Holdings, has also mentioned a figure of $200,000. "I don't think it's that crazy," he stated. According to the financier's calculations, the potential for a threefold increase from the current price roughly corresponds to the percentage difference between the peaks of 2017 and 2021. Moreover, from the lows of the bear market to the peak of 2021, digital gold increased in value by 20 times. This suggests a $300,000 benchmark as a positive scenario.
"It's hard to set specific points and times in such matters. I think we will reach this [zone] within the next 18-24 months, maybe even sooner," Tapiero believes. "A reduction in supply during a rapid increase in demand for ETFs, along with the halving, indicates a significant growth potential. I think the first cryptocurrency will pull everything else up with it."
The CEO of 10T Holdings also noted "good chances" of approval for exchange-traded funds based on Ethereum. However, he found it difficult to say whether these ETFs would be registered in May or if it would happen later.

– After reaching a new all-time high of $73,743 on March 14th, bitcoin experienced a sharp decline, losing about 13%. Some experts do not rule out further temporary decreases. For instance, Kris Marszalek, CEO of Crypto.com, believes that the current volatility of BTC is actually low compared to previous cycles, mainly due to the options market. Michael Novogratz, CEO of Galaxy Digital, is confident that the bottom line is at $50,000, and the coin's price will never fall below it unless a dramatic event occurs. According to him, bitcoin's growth is mainly supported by investors' insatiable appetite for the token, rather than macroeconomic factors such as the policies of the US Federal Reserve. JPMorgan analysts have more cautious feelings towards BTC, stating that the halving is unlikely to be a bullish catalyst for the coin. According to their forecast, bitcoin could fall by 33% after this event.

– The artificial intelligence of OpenAI's ChatGPT, when asked whether the BTC price could reach $100,000 on the eve of the halving, acknowledged this target as plausible. According to the AI's calculations, the current correction in no way affects the growth prospects and only confirms the inaccuracy of short-term forecasts. ChatGPT estimated the probability of reaching $100,000 at 40%, while the probability of hitting the $85,000 mark was assessed at 60%.

– BeInCrypto's editorial team discovered the origin of rumours claiming Vladimir Putin is Satoshi Nakamoto. It appears that Daniel Peña, also known as the "Trillion Dollar Man," an American businessman and founder of Quantum Leap Advantage, initiated them. His first statements linking the Russian President to cryptocurrency date back to 2019. Since then, the entrepreneur has repeatedly supported his theory. Peña believes that Putin benefits from the creation of bitcoin, as the cryptocurrency could undermine the position of the US dollar in the financial market and destabilize the American economy. Despite the lack of evidence for these claims, this theory has taken root and has become a meme over the years.
 

Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market
84
Trung Quốc thưởng cho người tố giác “sạc xe đạp điện trái quy định”

Nhằm ngăn chặn các vụ hỏa hoạn thương tâm do đỗ và sạc xe đạp điện sai quy định gây ra, gần đây, nhiều địa phương ở Trung Quốc đã công bố các hình thức khen thưởng đối với người tố giác hành vi nguy hiểm này.
Source: Trung Quốc thưởng cho người tố giác “sạc xe đạp điện trái quy định”
85
Điện gió ồn làm dân khổ, chính quyền nói chưa có quy định đền bù

Người dân ở Gia Lai phản ảnh do điện gió gây ồn không ở được, phải dời nhà đi nhưng không được đền bù tương xứng. Trong khi chính quyền địa phương nói chưa có quy định trong việc bồi thường.
Source: Điện gió ồn làm dân khổ, chính quyền nói chưa có quy định đền bù
86
First Solar jumps on strong quarter, record backlog in rare bright spot for beaten-down renewable sector

First Solar is one of the few companies that has weathered the sharp downturn in the solar sector.
Source: First Solar jumps on strong quarter, record backlog in rare bright spot for beaten-down renewable sector
87
中菲海上冲突频繁,马科斯与西方国家加强外交威慑中国

黄瑞黎, CAMILLE ELEMIA2024年3月19日菲律宾总统小费迪南德·马科斯和德国总理奥拉夫·肖尔茨上周在柏林的总理府。 Markus Schreiber/Associated PressWith China aggressively asserting its claims on the South China Sea, President Ferdinand R. Marcos Jr. of the Philippines spent his first year on the job beefing up Manila’s alliance with its oldest ally, the United States. Now he is shoring up support from a wider and new network of partners.由于中国好斗地坚持对南中国海的主权主张,菲律宾总统小费迪南德·马科斯把上任后的第一年花在了加强与本国最古老的盟友美国的联盟上。现在,他正在用一个更广泛的合作伙伴新网络来稳固支持。Mr. Marcos is adding a new intensity to his muscular foreign policy at a critical moment in his country’s territorial dispute with Beijing. Maritime clashes between Chinese and Philippine vessels have become more frequent in recent months.在菲律宾与中国领土争端的关键时刻,马科斯正在加大自己强硬外交政策的强度。近几个月来,中国船只与菲律宾船只的海上冲突变得更加频繁。In January, Mr. Marcos and the leaders of Vietnam, another country fighting off Chinese claims to the crucial waterway, pledged closer cooperation between their coast guards. This month, Mr. Marcos clinched a maritime cooperation deal with Australia. And this past week, he took his pitch to Europe.今年1月,马科斯和越南领导人承诺让两国的海岸警卫队更密切地合作。越南是抗争中国对这个重要航道水域主权主张的又一个国家。本月,马科斯与澳大利亚成功地签署了一项海事合作协议。上周,他把宣传做到了欧洲。“It has to be recognized that the South China Sea handles 60 percent of the trade of the entire world. So, it’s not solely the interest of the Philippines, or of ASEAN, or of the Indo-Pacific region, but the entire world,” Mr. Marcos said on Tuesday in Berlin, referring to the Association of Southeast Asian Nations.“必须承认,全世界60%的贸易经过南中国海。因此,这不仅是菲律宾一国的利益,或是东南亚国家联盟或印太地区的利益,而且是整个世界的利益,”马科斯上周二在柏林说。Standing alongside Chancellor Olaf Scholz of Germany, Mr. Marcos, the first Philippine president to visit Germany in a decade, added, “That is why it’s in all our interest to keep it as a safe passage for all international commerce that goes on in the South China Sea.”马科斯是十年来第一位访问德国的菲律宾总统,站在德国总理奥拉夫·肖尔茨旁边的马科斯还表示:“为了我们所有人的利益,必须确保南中国海作为所有国际贸易的安全通道。”This flurry of diplomacy, analysts said, might ultimately help to deter China. But they also acknowledged that Beijing was going to continue doubling down on its territorial claims, increasing the risks of a conflict that could ultimately draw in the United States, the Philippines’ oldest treaty ally. Washington has repeatedly condemned Beijing’s actions and has vowed to come to the aid of Manila in the event of an armed conflict.分析人士说,这些接二连三的外交活动也许最终会有助于威慑中国。但他们也承认,中国政府会继续对自己的领土主张变本加厉,导致发生冲突的风险增加,最终可能把菲律宾最古老的条约盟友美国卷进来。华盛顿已多次谴责北京的行动,并誓言一旦发生武装冲突,将帮助马尼拉。中国海警船向第二托马斯沙洲附近的一艘菲律宾海军包租的船只发射高压水枪,摄于上月。The foreign policy strategy adopted by Mr. Marcos, who took office in June 2022, is almost the opposite of the approach of his predecessor, Rodrigo Duterte. While Mr. Duterte spurned the West and courted China, Mr. Marcos has revived and cemented ties with traditional security partners like the United States and Japan. He has also cultivated new relations with the likes of Sweden and France, and his government has pushed for arms deals and military drills.马科斯2022年6月上任后采取的外交政策战略与其前任罗德里戈·杜特地的几乎完全相反。杜特地一脚踢开了西方,去讨好中国,马科斯不仅恢复并巩固了与美国和日本等传统安全伙伴的关系,还与瑞典、法国等国家发展出新关系,他的政府还推进了军火交易和军事演习。Tensions flared again this month when Chinese boats blocked the Philippine vessels off the Second Thomas Shoal, a contested reef 120 miles off the coast of the western province of Palawan. The confrontation culminated in Chinese and Philippine coast guard vessels colliding.紧张局势本月再度升级,中国船只在距离菲律宾西部省份巴拉望海岸200公里的第二托马斯沙洲(Second Thomas Shoal,中国称之为仁爱礁——译注)附近拦截了菲律宾船只。这次冲突最终导致了中国海警船与菲律宾海警船相撞。Mr. Marcos told reporters then there was no reason yet to invoke the mutual defense treaty with the United States.马科斯当时对记者说,还没有理由启动与美国的共同防御条约。China claims 90 percent of the South China Sea, some of it hundreds of miles from the mainland and in waters surrounding Vietnam, Malaysia, Brunei, Indonesia and the Philippines. In the past decade or so, China has asserted ever greater control over these waters, using two island chains called the Paracels and the Spratlys to expand its military footprint by building and fortifying outposts and airstrips.中国声称对南中国海90%的水域拥有主权,包括一些距离中国大陆好几百公里,位于越南、马来西亚、文莱、印度尼西亚和菲律宾周边的水域。在过去十年左右,中国加强了对这些水域的控制,通过在帕拉塞尔群岛(中国称之为西沙群岛——译注)和斯普拉特利群岛(中国称之为南沙群岛——译注)这两个岛链上建设和增强前哨基地和机场,扩大了它的军事足迹。The militarization of the Spratly Islands allowed China to maintain a round-the-clock presence in waters about 500 miles from the coast of China. Chinese boats stationed there then repeatedly harassed Filipino fishing boats in an area that an international tribunal in The Hague had ruled was a traditional fishing ground of the Philippines, Vietnam and other nations. The Chinese presence also prevented Manila from fully exploring oil and gas deposits in the surrounding water.斯普拉特利群岛的军事化让中国能在距离本国海岸800公里的水域保持全天候存在。驻扎在那里的中国船只一再骚扰附近水域的菲律宾渔船,海牙的国际法庭已将该水域裁定为菲律宾、越南和其他国家的传统渔场。中国在该水域的军事存在也阻碍了菲律宾在其周边水域充分勘探石油和天然气储量。China has blamed the Philippines for the frequent clashes in the South China Sea.中国将南中国海的频繁冲突归咎于菲律宾。中国在距离菲律宾巴拉望岛不远的美济礁上修造的建筑。Wang Yi, China’s foreign minister, in December admonished the Philippines for “changing its policy stance, reneging on its commitments and continuing to provoke and cause trouble at sea.”中国外交部长王毅曾在去年12月指责菲律宾“改变了迄今的政策立场,背弃了自己作出的承诺,不断在海上挑衅滋事”。Mr. Wang also issued a warning: “If the Philippines misjudges the situation, insists on going its own way, or even colludes with malicious external forces to continue causing trouble and chaos, China will definitely safeguard its rights in accordance with the law and respond resolutely.”王毅还警告说,“如果菲方误判形势,一意孤行,甚至与不怀好意的外部势力相互勾联,继续生事生乱,中方必将依法维权,坚决回应。”Two weeks later, the Philippines announced that it had signed agreements with Britain and Canada to increase defense cooperation. They were part of 10 security agreements that Mr. Marcos has signed with seven countries since last year, according to a tally of public statements.两周后,菲律宾宣布与英国和加拿大签署了加强防务合作的协议。据对公开声明的统计,马科斯去年与七个国家签署了十项安全协议,与英国和加拿大的协议是其中的一部分。“China is basically pushing us closer to the United States and to the other countries that have already indicated their support, as far as Germany and as far as the Czech Republic,” said Renato Cruz De Castro, a professor of international studies at De La Salle University in Manila.“中国基本上是在把我们推向美国以其他已示支持的国家,包括远在欧洲的德国和捷克共和国,”位于马尼拉的德拉萨勒大学国际研究教授雷纳托·克鲁兹·德卡斯特罗说。On Thursday, Petr Pavel, the president of the Czech Republic, said he was willing to cooperate with the Philippines in defense and cybersecurity, adding that his country “fully” supports Manila in the South China Sea.上周四,捷克共和国总统彼得·帕维尔表示,他愿意在国防和网络安全方面与菲律宾合作,还说,他的国家在南中国海问题上“完全”支持菲律宾政府。“To us, South China Sea may seem to be far, far away, but if you take into account the percentage of share of world or global trade that passes through this area, any disruption of theses routes would have an adverse impact on Europe, not only in the form of shortage of goods but also soaring prices,” Mr. Pavel told reporters at a joint news conference with Mr. Marcos. “Which is why we have to pay attention to this topic.”“南中国海对我们来说似乎很远很远,但如果考虑到经过该水域的世界或全球贸易的百分比份额,这些航线受到任何干扰都会对欧洲产生不利影响,不仅会导致商品短缺,而且会导致价格飞涨,”帕维尔在与马科斯举行的联合新闻发布会上对记者们说。“这就是我们为什么必须关注这个主题的原因。”美国总统拜登与马科斯去年5月在椭圆形办公室。New allies, Mr. De Castro said, are welcome because the Philippines cannot rely on the United States alone, especially if former President Donald J. Trump returns to power next year.德卡斯特罗说,菲律宾欢迎新盟友,因为菲律宾不能只靠美国,尤其是如果前总统特朗普明年重新掌权的话。“The U.S. is simply — even Americans would say — so unstable right now, the political system is so volatile, look at what’s happening with the U.S. military assistance to Ukraine,” he said. “And I’m not saying that Trump would win, but there’s always uncertainty because of how unstable American domestic politics is.”“美国现在非常不稳定(就连美国人也会这么说),美国的政治体制非常无定性,看看美国对乌克兰的军事援助正在发生的情况就知道了,”德卡斯特罗说。“我并不是说特朗普会赢,但总有不确定性,因为美国的国内政治如此之不稳定。”Another important calculus for Mr. Marcos, analysts said, is securing investments for the Philippines.分析人士说,马科斯的另一个重要考量是确保对菲律宾的投资。“That means that we can really be assertive, we can really protect the South China Sea interests without thinking of the economic backlash that China might impose on us,” said Aries A. AruSame Currency Pair, the chairman of the political science department of the University of the Philippines Diliman.“这意味着我们能真正坚定信心,我们能真正保护我们在南中国海的利益,而不必考虑中国可能对我们施加的经济报复,”菲律宾迪利曼大学政治学系主任阿里斯·阿鲁盖说。Even India, which has been silent on the South China Sea dispute for years, announced last June that it would provide loans with preferential rates to the Philippines for its military modernization. In August, both countries signed agreements to cooperate in the coast guard sectors.就连多年来对南中国海争端持沉默态度的印度也在去年6月宣布,将向菲律宾提供用于军事现代化的优惠利率贷款。两国已在去年8月签署了海岸警卫队领域的合作协议。Last week, when he was in Australia, Mr. Marcos warned that the constant clashes between Filipino and Chinese vessels have increased the risks of miscalculation.上周,马科斯在澳大利亚时警告称,菲律宾船只与中国船只不断发生冲突,已增加了发生误判的风险。“The potential for outright conflict is much higher now than it was before,” he said. “We worry in the Philippines because it could come from not a strategic decision by anyone saying, ‘OK, we’re going to war,’ but just by some servicemen making a mistake, or some action that’s misunderstood.”“现在发生直接冲突的可能性比以前大多了,”他说。“我们菲律宾人对此感到担忧,因为导致冲突的可能不是某个人做出的‘好,我们要开战’的战略决定,而只是某些军人犯下错误,或采取了某些被误解的行动。”黄瑞黎(Sui-Lee Wee)是《纽约时报》东南亚分社社长。她是因报道新冠大流行获得2021年普利策公共服务奖的团队成员之一。点击此处查看更多关于她的信息。翻译:纽约时报中文网点击查看本文英文版。

Source: 中菲海上冲突频繁,马科斯与西方国家加强外交威慑中国
88
General Discussion / Re: Daily Market Analysis By FXOpen
« Last post by FXOpen Trader on March 20, 2024, 11:22:09 AM »
TSLA analysis: Price Returns to Above the $170 Level, But for How Long?


After forming a low of the year on March 14, the TSLA share price managed to rise above the USD 170 level — investors reacted positively to Tesla’s decision to increase prices for electric vehicles in the US and Europe.

However, the TSLA stock market remains under pressure:
the TSLA price performs noticeably worse than the S&P 500 index;
the price forms a downward channel (shown in red);
Goldman Sachs analysts cut their forecast for Tesla shares to USD 190 from USD 220 for the next 12 months due to problems with production and sales.

Yahoo writes that investors are not happy with Musk's attitude. The fall in Tesla shares could quickly stop if the company gets a “real CEO” or Musk changes his position and returns to work and positively promoting the brand.

What is the market outlook?



TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
89
General Discussion / Re: Daily Market Analysis By FXOpen
« Last post by FXOpen Trader on March 20, 2024, 11:12:20 AM »
Correction in Crypto Markets: BTC/USD Rate Drops to $60,000


On March 18, we wrote that bears became more active near the $70,000 level.

As the BTC/USD chart shows, today the price of Bitcoin is already close to the psychological level of USD 60k, while the price of Ethereum is close to USD 3,000.

According to MarketWatch, experts consider the decline to be a correction that is “long overdue” as part of an upward trend. According to Fundstrat, Monday saw net outflows from BTC ETFs for the first time since March 1, amounting to about $154.3 million.

What's next?

From a technical analysis point of view, the price of Bitcoin, given an increase of approximately 90% from point A (around USD 38.8k) to point B (around USD 73.4k), a normal correction of 50% indicates the prospect of a decline to the area of USD 56.1k.



TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
90
General Discussion / Re: Daily Market Analysis By FXOpen
« Last post by FXOpen Trader on March 20, 2024, 06:43:47 AM »
Market Analysis: EUR/USD Dips Again, USD/JPY Rallies Above 151


EUR/USD started another decline from the 1.0960 resistance. USD/JPY surged and broke the 151.00 resistance zone.

Important Takeaways for EUR/USD and USD/JPY Analysis Today

  • The Euro started a fresh decline below the 1.0900 support zone.
  • There is a key bearish trend line forming with resistance at 1.0870 on the hourly chart of EUR/USD at FXOpen.
  • USD/JPY climbed higher above the 150.00 and 151.00 levels.
  • There is a connecting bullish trend line forming with support at 150.20 on the hourly chart at FXOpen.

EUR/USD Technical Analysis


On the hourly chart of EUR/USD at FXOpen, the pair struggled to clear the 1.0960 resistance zone. The Euro started a fresh decline and traded below the 1.0900 support zone against the US Dollar.

The pair even declined below 1.0870 and tested the 1.0835 zone. A low was formed near 1.0834 and the pair is now correcting losses. On the upside, the pair is now facing resistance near the 50% Fib retracement level of the recent decline from the 1.0906 swing high to the 1.0834 low at 1.0870.

There is also a key bearish trend line forming with resistance at 1.0870. The next key resistance is near the 76.4% Fib retracement level of the recent decline from the 1.0906 swing high to the 1.0834 low at 1.0890.

The main resistance is 1.0905. A clear move above the 1.0905 level could send the pair toward the 1.0960 resistance. An upside break above 1.0960 could set the pace for another increase. In the stated case, the pair might rise toward 1.1020.

If not, the pair might resume its decline. The first major support on the EUR/USD chart is near 1.0835. The next key support is at 1.0820. If there is a downside break below 1.0820, the pair could drop toward 1.0785. The next support is near 1.0750, below which the pair could start a major decline.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

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