Monero fell apart on Tuesday right along with the rest of the crypto world. Crypto cannot seem to find its footing, especially as the US dollar has been strengthening so much. That being said, this is a market that I think given enough time will have to find support near the $180 level in order to keep up the overall consolidation-type behavior that we have seen.
The FTSE 100 initially rallied on Tuesday but gave back gains almost immediately to fall towards the 7460 level. The 7460 level only matters because it was roughly where the top of the previous channel was, so a certain amount of “market memory” comes into play as previous resistance should offer current support. So far, that does seem to be the case, as we have bounced back above the 7500 level from that test.
The yen stumbled on Tuesday as U.S. Treasury yields rose to new near two-year highs and the Bank of Japan stressed its resolve to maintain ultra-loose monetary policy, though firmer yields did little for the greenback against other currencies.
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The NASDAQ 100 futures market broke down rather significantly on Tuesday to not only break the back of the hammer from the Friday session, but also the 15,500 level, an area that had previously been supportive. Because of this, the market is likely to continue seeing a lot of noisy behavior, so I would be cautious about trading this market at the moment. After all, interest rates skyrocketing in the United States has really freaked out a lot of technology traders, as well as a lot of the bigger companies that make up a huge portion of the movement in this index.
The last trading sessions for the price of an ounce of gold witnessed relative stability in a range between the support level of $1812 and the level of $1823 an ounce. It became stable around the level of $1818 at the time of writing the analysis. The gold market held steady as investors weighed on the prospects for monetary policy tightening and the omicron virus variable threat to the global economic recovery. Global financial markets in general are balancing the future of economic recovery, which is offset by the rapid spread of the new Corona variable
The dollar was firm on Wednesday after a rip higher in U.S. yields vaulted it up sharply on the euro overnight, putting it back above support levels that have held for the past few months in anticipation of rising U.S. interest rates.
The Bank of Japan changed its inflation stance in its meeting on Tuesday for the first time since 2014. With energy costs spiking, the BoJ has decided to revise its inflation projection from 0.9% to 1.1% for the fiscal year starting in April. The bank also projects inflation to remain at 1.1% for the following year. This signals that, while Japan has largely been a hold-out when it comes to the inflation sweeping across various economies across the globe, prices are still rising, primarily in fuel and cooking essentials.
FCA Suspends Four European Firms from Operating under TPR
After the Wall Street Journal reported that Microsoft is close to a deal to buy Activision Blizzard, shares of Activision Blizzard Inc. ($ATVI) jumped about 37% in pre-market trade Tuesday.
Competitor blockchains, a slowdown in daily transactions and flat-lined TVL are a few challenges facing BNB, but data suggests Binance Coin is still a contender.
Gold Price Forecast: XAU/USD subdued as the US dollar and US yields steal the show
100-HMA, 23.6% Fibonacci retracement adds to the downside filters, bulls need validation from monthly peak.
Awards received by the winners confirm their leading positions in the industry and recognition of the professional traders community.
What are Currency Futures and How Do They Work? Currency futures were first offered in 1972 at the Chicago Mercantile Exchange (CME), which had been in operation since 1898. (it is the largest Futures exchange in the U.S., with 6 product areas: stock indices, interest rates, currency, weather, commodities, and real estate).
The Nigerian Forex traders have got an added advantage to participate in the Forex market in the two dominant trading sessions such as the London and New York sessions. This is because the Nigerian time zone readily aligns with these two time zones. Nigerians can therefore trade the market comfortably from 6:00am in the morning (or even earlier for those willing to join the Asian session) till 10:00pm at night which is when the New York session ends and the market itself at this point closes for the day across the three different time zones. Often, we experience a one hour break before the market reopens again for the Asian session. The next resumption for trading for Nigerians who are willing to sacrifice their night sleep is from 11:00am which marks the beginning of the Asian session.
Oil prices rose for a fourth day to a seven-year high as an outage on a pipeline from Iraq to Turkey increased concerns about an already tight supply outlook amid worrisome geopolitical troubles in Russia and the United Arab Emirates.
The West Texas Intermediate Crude Oil market initially gapped higher on Monday, which was Martin Luther King Jr. Day in the United States. This is a market that continues to see a lot of bullish pressure and I simply just do not see that changing anytime soon. That being said, the market is very likely to continue to see plenty of buyers underneath and I think that continues to be the main theme here.
The Ethereum market initially tried to rally on Monday, but then ended up falling back towards the 200-day EMA yet again. The 200 day EMA sits just below the $3200 level, which is an area that I think a lot of people will pay attention to. Keep in mind that the 200 day EMA is not like a brick wall, it is essentially an area of interest. Because of this, even if we do break down below the 200 day EMA, I am paying closer attention to the $3000 level, which is an area that is going to be supportive, not only due to the fact that we have bounced from there, but the fact that we have a certain amount of psychology attached to a round figure like that.
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