CFDTrading provides daily news, technical analysis, and research on the top 5 cryptocurrencies and 40 forex pairs, as well as featured pieces exploring longer term trends for traders.
Fed Chair Jerome Powell told Congress yesterday that the US economy is in a good place given the decline in trade uncertainty [after the phase one trade deal was signed between the US and China] and the stabilization of global growth. However, he did concede that there is a potential threat from the coronavirus. “Good Place” Reflected in PMIs…
Daily Technical Analysis
Daily technical analysis for each of the top 40 forex pairs and 5 cryptocurrencies.
The price move occurred on stronger volume; specifically, yesterday’s volume was up 5.48% from the day prior, and up 145.81% from the same day the week before.
This is why, we cannot ever trust a centralized media platform.
Related to the moving average crossover is that bitcoin cash’s momentum/trend on a 14 day basis may be decelerating.
For additional context, note that price has gone up 16 out of the past 30 days.
For additional context, note that price has gone up 9 out of the past 14 days.
The price move occurred on stronger volume; specifically, yesterday’s volume was up 1.68% from the day prior, and up 126.82% from the same day the week before.
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.
Out of the 5 instruments in the top cryptos asset class, ethereum ended up ranking 2nd for the day in terms of day-over-day price change.
Bitcoin does not have payouts to 3rd parties encoded into its protocol.
Volatility for bitcoin has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note.