FXNews.me | Free Forex Market Insights at Your Fingertips

[fxnews.me]

Bitcoin Poised for Consolidation After Sell-Off​

FxNews—Bitcoin's downtrend extended near the $59,500 supply zone after the sellers pushed the price below the 100-period simple moving average. The robust selling pressure moved the RSI 14 and Stochastic oscillator into the oversold territory, showing 31 and 17 in the description, respectively.
​

Forecast​

Bitcoin's primary trend should be bearish because the price is below the 50- and 100-period simple moving averages. However, we anticipate the BTCUSD price to step into a consolidation phase, ranging between $61,190 and $62,770 for the subsequent few trading sessions.​

Discover the latest updates and in-depth technical analysis on the forex market—all for free—FxNews.

 

[fxnews.me]

USDJPY Technical Analysis – 3-October-2024

FxNews—The U.S. dollar began a new bullish wave from 141.5 against the Japanese yen, testing the September 27 high at 146.8 in today’s trading session.

The USD/JPY 4-hour chart below demonstrates the price, support, resistance levels, and technical indicators utilized in today’s analysis.

Discover the latest updates and in-depth technical analysis on the forex market—all for free—FxNews.​

 

[fxnews.me]

Crude Oil Technical Analysis – Price Exceeded $74.8

FxNews—Crude Oil price broke above the descending trendline in yesterday’s trading session, testing the $74.8 resistance as of this writing. The 4-hour chart below demonstrates the price, support, resistance levels, and technical indicators utilized in today’s analysis.

Discover the latest updates and in-depth technical analysis on the forex market—all for free—FxNews.​

 

[fxnews.me]

Read Full Article: Bitcoin Surges Past $63200 as Bulls Eye $66700 Target

FxNews—Bitcoin crossed above the $63,200 critical pivot and the 100-period simple moving average in today’s trading session. This mark was backed by the Fibonacci cluster, the 50%, and the 61.8% retracement levels. As of this writing, the digital gold is testing the broken resistance as support, trading at approximately $63,520.

Discover the latest updates and in-depth technical analysis on the forex market—all for free—FxNews.​

 

[fxnews.me]

Read Full Article: EURUSD Consolidates as US Trade Deficit Hits 5-Month Low

In August 2024, the United States saw its trade deficit decrease to $70.4 billion, the smallest in the last five months. Initially, the deficit was higher at $78.9 billion in July, but this number was later adjusted. Experts had predicted the deficit would be around $70.6 billion, so the figure was slightly better than expected.

Discover the latest updates and in-depth technical analysis on the forex market—all for free—FxNews.​

 

[fxnews.me]

Read Full Article: Bitcoin Tests Critical Fibonacci at $61700

FxNews—Bitcoin trades bearish from $64,280, testing the CD wave’s 61.8% Fibonacci retracement level at $61.700. The BTC/USD 4-hour chart below demonstrates the price, support, resistance levels, and technical indicators utilized in today’s analysis.

Discover the latest updates and in-depth technical analysis on the forex market—all for free—FxNews.​

 

[fxnews.me]

Read Full Article: Key Indicators Point to Litecoin Price Drop

FxNews—Litecoin price returned downside when it peaked at BC wave’s 61.8% Fibonacci retracement level at $67.5. This downtrend was expected because the Stochastic Oscillator was in the overbought territory. Consequently, Litecoin bears pushed the price below the 100-period simple moving average.​

 

[fxnews.me]

Read: Cryptocurrency Surge – A Week of Unexpected Gains

FxNews—Cryptocurrencies experienced a significant recovery on Friday, bouncing back from the previous day’s lows. Bitcoin notably reclaimed the $63,000 mark as investors quickly set aside their concerns about rising inflation. Instead, their focus shifted to the anticipated updates on fiscal policy from China, which were expected today.​

​

 

[fxnews.me]

Read: EUR/USD Signals Divergence Amid ECB Anticipated Rate Cut

FxNews—The Euro has fallen to its lowest value in two months, trading around $1.09. This drop is mainly due to the strong performance of the U.S. dollar, which is being influenced by expectations that the Federal Reserve will slow down in reducing borrowing costs.​

 

[fxnews.me]

Bitcoin Peaks at $66,700: Bearish Signal Ahead



FxNews—Bitcoin’s uptrend resulted in the price peaking at the $66,700 ceiling. The BTC/USD 4-hour chart formed a bearish long-wick candlestick pattern, while the RSI and Stochastic indicators signal overbought conditions.

The Bitcoin price can test the $64,280 resistance before the uptrend resumes.

Discover the latest updates and in-depth technical analysis on the forex market—all for free—FxNews.​

 

[fxnews.me]

Read Full Article: Silver Hits $31.8 as China Boosts Banks



FxNews—In mid-October, silver reached $31.80 per ounce, fueled by falling Treasury yields and similar gains in gold. As 10-year Treasury yields dropped due to disappointing U.S. manufacturing outcomes, the attraction of non-yielding assets like silver grew.​

 

[fxnews.me]

Article: Harmonic Patterns: Key Signal for Market Reversals

FxNews—To forecast the Forex market efficiently, traders must familiarize themselves with the Harmonic Patterns, a strategy based on the specific geometric structure of price action and Fibonacci numbers. The reason for utilizing harmonic patterns in technical analysis is to spot possible reversal points in the market.​

 

[fxnews.me]

Article ⇒ Safe Haven Silver Surges After Sinwar’s Elimination

FxNews—Silver prices surged past $32 per ounce, nearing a high not seen in two weeks. This increase aligns with gold’s gains, driven by the upcoming US election uncertainties and growing tensions in the Middle East, which have boosted the attraction of Silver and gold as safer investments.

Discover the latest updates and in-depth technical analysis on the forex market—all for free—FxNews.​