In any recovery attempt, EUR/USD will face tough resistance

The EUR/USD is still licking its wounds from the one-two punch dealt by Draghi and Powell last week but may have a hard time to recover. The Technical Confluences Indicator shows that the 1.1596 is a dense cluster of resistance lines, the Bolinger Band 15m-Middle, the Simple Moving Average 10-4h, the SMA 10-15m, the SMA 5-15m, the Fibonacci 38.2% one-day, and […]

Bitcoin may fall victim to its own popularity, BIS says

Large cryptocurrencies are more fragile and vulnerable to downside risks. Bitcoin and other major coins lost over 20% in a month. Large cryptocurrencies are at risk of collapse due to fragile nature of their decentralized networks, according to the latest BIS research. “Trust can evaporate at any time because of the fragility of the decentralized […]

USD/JPY Forecast June 18-22 – Will it finally reflect the trade wars?

Dollar/yen was trading up and down and eventually closed higher, reflecting dollar strength rather than concerns about trade wars. Will this continue? With fewer events in markets, politics will take center stage. USD/JPY fundamental movers Trump-Kim Summit, hawkish hike, upbeat data Donald Trump met Kim Jong-un in a historic summit. While there was little of substance, the slow […]