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.
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USDOLLAR Weekly Reflects Fed Chairs Comments; Pullback May Provide Opportunities to Dollar Bulls
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.
Ethereum (ETH) Down 2.05%; Pin Bar Pattern Appearing on Chart
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.
Bitcoin Cash (BCH) Fares the Worst Out of Top Cryptos, 5 Day Up Streak Broken; Breaks Below 20 Average
Related to the moving average crossover is that bitcoin cash’s momentum/trend on a 14 day basis may be decelerating.
Litecoin (LTC) Makes Big Move Relative to Two Week Trend, Down 2.39%; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone up 16 out of the past 30 days.
Bitcoin (BTC) Tops All Top Cryptos, Up 0.2%; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone up 9 out of the past 14 days.
Ripple (XRP) Down 8.56%
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.
Litecoin (LTC) Down 7.87%
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.
Ethereum (ETH) Down 7.33%
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 Cash (BCH) Fares the Worst Out of Top Cryptos; Down 11.09%
Bitcoin does not have payouts to 3rd parties encoded into its protocol.
Bitcoin (BTC) Down 4.39%
Volatility for bitcoin has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note.