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Central Bankers' Panel puts Powell, dollar on top, Lagarde, euro lagging, Bailey, pound behind

Central Bankers' Panel puts Powell, dollar on top, Lagarde, euro lagging, Bailey, pound behind

FXStreet News FXStreet News 29.06.2022 16:41
US Fed Chair Powell prioritizes fighitng inflation, and ready to see negative growth.Eurozone ECB's Lagarde conveys a balanced, wait-and-see approach.UK BOE's Bailey signals inflation is already taking its toll.Football fans will have to wait until the winter to see the World Cup – but forex traders have their dream team playing in a panel already now. The three most influential people in currency markets have all appeared together and they provided a clear ranking of their respective currencies. I see the fall in EUR/USD – and the larger one in GBP/USD – as fully justified. Here is why.King dollar: Federal Reserve Chair Jerome Powell said that the No. 1 goal is to bring price stability, and does not even want to think about the deanchoring of inflation expectations. He added that the US economy is strong and could withstand higher interest rates.Most importantly, he clearly prioritizes crushing inflation. He wants to cool the economy, and only "hopefully" to avoid negative growth. Between the Fed's two mandates of price stability and full employment, Powell clearly focuses on the former. Putting a lid no inflation means higher rates, and hat is positive for the dollar.Mixed euro: European Central Bank Governor Christine Lagarde has maintained a balanced approach, perhaps in line with her role as the host of the panel in Sintra, Portugal. Her words also come after Spain's inflation hit 10% but Germany's retreated to 7.6%, lower than expected. Her message of acting according to data means uncertainty, which helps the euro against the pound, but fails to beat the dollar. Depressed pound: Bank of England Governor Andrew Bailey cast a gloomier message, emphasizing the shock caused by the increase in the cost of living, and saying it already has an effect. That means Brits have less money in their pockets, and that higher prices are already working to cool the economy. While he said the BOE may act "forcefully" against inflation is needed, he seemed reluctant to endorse a hawkish point of view.Did central bankers say something absolutely new? No. Nevertheless, having the three of them in one stage, talking calmly about their struggles and about policy, is impactful. The image of all them together is likely to remain in traders' minds for longer, extending the advantage of the dollar, the lagging of the euro and the weakness of the pound.
Watch out for Ethereum price as technical indicators point to dip below $1,000

Watch out for Ethereum price as technical indicators point to dip below $1,000

FXStreet News FXStreet News 29.06.2022 16:41
Ethereum price sees long holders stuck in a bull trap.ETH price faces headwinds coming from tailwinds that flaring up again at the US closing bell.Expect to see losses mounting up again with a possible retest of this year’s low.Ethereum (ETH) price is revealing a not-that bright picture for bulls this week, both from a technical perspective and because of ballooning tail risks. As bulls could not manage a close above a crucial technical hurdle, price action slipped further to the downside and moved away from the essential historic barrier. More losses are on the table if existing tail risks are compounded by Russian retaliation. This in turn would trigger a massive sell-off in ETH price action.Ethereum price only emerged for a catch of breath Ethereum price is in a bad way both technically and from geopolitical headwinds weighing on price action. From a technical point of view, the bull trap on June 26 has ensnared plenty of bulls trying to get involved in the breakout that turned out to be false and rapidly led to a downside squeeze. The overnight communication from NATO that troop forces will be doubled in Eastern Europe, and the US committing to building a permanent base in Poland, has ramped up the stress and fears of a cold war and possible retaliation from Russia in a panic attack. ETH price is thus set to drop from $1,243.89 back to $883.60 and possibly test a new low for the year. By doing so, $830.93 will come back into play and could be tested for support. That would mean another 30% of losses added to the already battered ETH price action.ETH/USD daily chartAs commodities correct, all sectors have had their ‘bear market’ moment, and by now, investors could start buying the dip. That would mean more cash inflow while price action is still declining but at a much slower pace. This could lead to a slow but sure turnaround and swing back above $1,243.89. As persistent buying continues, the price may ramp up further and could set sail for $1,400 as an intermediary target.
Digital World Acquisition Corp Stock News and Forecast: Is this the end for DWAC?

Digital World Acquisition Corp Stock News and Forecast: Is this the end for DWAC?

FXStreet News FXStreet News 28.06.2022 16:50
Digital World board members have received subpoenas by federal prosecutors.DWAC stock tanked 9.6% to $25.16 on Monday.DWAC is down 51% year-to-date amid failure to complete merger.Digital World Acquisition Corp (DWAC) is in the news again and not for the right reasons. The special purpose acquisition company or SPAC filed an 8-K with the Securities & Exchange Commission (SEC) to announce that a grand jury formed in the Southern District of New York had issued additional subpoenas to the company and its executives. The announcement comes on the heels of earlier filings on June 13 and 16 that all members of DWAC's board had received subpoenas and that the investigation was expanding.The word so far is that the grand jury is scrutinizing whether or not the officers behind DWAC had already discussed a merger with former President Donald Trump's Trump Media & Technology Group (TMTG), which owns social media startup Truth Social, before raising funding for DWAC. Doing so would constitute a crime. Shares of DWAC plunged 9.6% on Monday to $25.16.DWAC stock newsOn Monday the Trump Media & Technology Group released a statement concerning Digital World's latest filing.“TMTG is focused on reclaiming the American people's right to free expression. Every day, our team works tirelessly to sustain Truth Social’s rapid growth, onboard new users, and add new features. We encourage—and will cooperate with—oversight that supports the SEC's important mission of protecting retail investors.”The main news remains DWAC's filing with the SEC from Friday. Here is the important section:As previously disclosed in Digital World’s Form 8-K filed on June 13, 2022, Digital World has been informed that it is the subject of an investigation pursuant to Section 8(e) of the Securities Act, with respect to the Registration Statement relating to its Business Combination. Digital World has also received several document requests and subpoenas from the SEC, seeking various documents and information regarding, among other things, Digital World’s due diligence regarding TMTG, communications regarding and due diligence of potential targets other than TMTG, relationships between and among Digital World (and/or certain of Digital World’s officers and directors) and other entities (including ARC Global Investments II LLC, Digital World’s sponsor, and certain advisors, including Digital World’s underwriter and financial advisor in its initial public offering)."On June 16, 2022, Digital World became aware that a federal grand jury sitting in the Southern District of New York has issued subpoenas to each member of Digital World’s board of directors; the subpoenas seek certain of the same documents demanded in the above-referenced SEC subpoenas, along with requests relating to Digital World’s S-1 filings, communications with or about multiple individuals, and information regarding Rocket One Capital. Additionally, on June 24, 2022, Digital World received a grand jury subpoena with substantially similar requests. These subpoenas, and the underlying investigations by the Department of Justice and the SEC, can be expected to delay effectiveness of the Registration Statement, which could materially delay, materially impede, or prevent the consummation of the Business Combination.There is a lot to digest there, but with both a federal grand jury and the SEC hot on its tail, it sure seems as if the merger with TMTG is unlikely to happen. Grand juries in the US are typically called when an indictment is probable. On June 22 board member Bruce Garelick resigned from DWAC's board, although he said it did not have anything to do with DWAC's policies.DWAC stock forecastAt this point, the chart below does not matter. The news that TMTG's merger with DWAC might not go through would mean that DWAC's price should drop back to $10. That is where shares of the SPAC were sold last year.If the merger does not go through, then that $10 is required to be returned to shareholders. Trading above $10 until this grand jury proceeding is concluded just means that traders are making a gamble that indictments fail or do not halt the merger. I, for one, am not ready to make that bet. Resistance sits at $37, and FXStreet thinks DWAC's share price will remain between $10 and $37 until this government investigation is completed.DWAC daily chart
This is why traders need to be careful trading Polygon’s MATIC price

This is why traders need to be careful trading Polygon’s MATIC price

FXStreet News FXStreet News 28.06.2022 16:50
Polygon price is flip-flopping between a wedge and a fade after receiving a firm rejection to the topside. MATIC could quickly drop another 16% before finding support to bounce off. Expect a further decline, as a stronger dollar could be back anytime now. Polygon (MATIC) traders must have no fun at all seeing the shortness of the relief rally and the soft patch that looked to be underway for the summer. Instead, for MATIC bulls it must almost feel like the holiday flight got cancelled, and the swimming pool has a dead rat floating in it, after the firm rejection from the pivotal level at $0.620. Expect the fade to continue and see MATIC price drop another 16% to 25% in the wake of looking for support. Polygon’s MATIC price set to drop 20% Polygon traders lacked conviction in joining the small rally created in the soft patch when equity markets started to rally and the dollar got busy making its suitcase for the summer. Traders were surprised when – not the 55-day Simple Moving Average but the pivotal level at $0.620 put a cap on any further moves to the upside. Ad to that, $0.513 did not hold as support, and it looks like its relevance has ended. MATIC traders are thus forced to look at lower levels, with $0.450 coming to mind, a smaller level to have marked up as it did its part in the breakout trade earlier last week. Should that level not hold well, there is still the tilted supportive line around $0.410 which do the trick. In the meantime, the Relative Strength Index (RSI) will have dipped below 50 and neared the oversold area, limiting further downturns. MATIC/USD daily chart Should the dollar give way more and, for example, start to trade back above 1.08 or 1.10, cryptocurrencies would have a field day. The $0.620 level would get sliced easily, and likely see MATIC price action rally at a gruesome pace towards $0.960 to start flirting with $1.00. Such a move would pare back all incurred losses from May until now, and even make investors think of a positive close for the year for MATIC if the trend continues.
Alibaba Stock Forecast: Rare double rising window pattern spells bullish trend for BABA

Alibaba Stock Forecast: Rare double rising window pattern spells bullish trend for BABA

FXStreet News FXStreet News 27.06.2022 16:49
Alibaba stock is now trading near its opening price of the year at $120.38. BABA stock is now gaining back ground due to possible Ant Group IPO. BABA is now trading in a region of thick resistance but has featured bullish Rising Window pattern. By moving up more than 2% to $120.20 on Monday, Alibaba (BABA) stock is now even for the year. After dropping precipitously in March, touching a six-year low at $73.28, BABA is now trading around its price on January 3 of $120.38. News on June 17 emerged that the People's Bank of China is allowing Ant Group to form a financial holding company that would allow it to IPO. Alibaba owns about 1/3 of the prominent fintech firm that it helped launch. As a major owner, BABA is a proxy for Ant's hoped-for IPO, which is expected to be the largest of any Chinese company up to now. Alibaba Stock Forecast: Rare double Rising Window pattern spells bullish trend It is not surprising that BABA stock has bounced down off of $120 on a first try. $120 has acted as stiff resistance all year. There is a major signal though that this rally is about to get started and may last awhile. Thursday and Friday of last saw the rare Rising Window pattern. It was doubly rare, because Thursday and Friday performed it back to back. The Rising Window pattern happens when a bullish green candlestick follows another bullish green candlestick with a gap in between. The gap between the Wednesday and Thursday high and low was about $1, but the gap between Thursday and Friday was $5! This is typically a bullish continuation pattern, so traders should expect BABA stock to break through $120 this week. FXStreet thinks that BABA will make a run at $128 next. That is the resistance zone from the first two weeks of February. Right above there is more resistance at $130, which stems from that level acting as stiff support during the winter of 2018 and early 2019. It is hard to guess whether Alibaba stock can break through both those barriers at once. Long-term support remains at $82 and $78, but currently there seems to be a rising support line that is leading to higher and higher lows. Near-term support is at $105. BABA daily stock chart
Everything you need to know about Shiba Inu’s Ryoshi Vision rewards before June 29

Everything you need to know about Shiba Inu’s Ryoshi Vision rewards before June 29

FXStreet News FXStreet News 27.06.2022 16:49
ShibaSwap DEX shared an update on Ryoshi Vision rewards, announcing their distribution within the next 48 to 72 hours from June 26. Shiba Inu coin now ranks in the top 10 cryptocurrencies by trading volume among the 500 largest whales on the Ethereum network. Analysts predicted a breakout in Shiba Inu price over the next few days. ShibaSwap, the native decentralized exchange of the Shiba Inu coin project, announced the distribution of Ryoshi Vision rewards within the next 48 to72 hours from June 26, 2022. ShibArmy will soon receive passive income from the Shiba Inu burn portal. Shiba Inu burn portal rewards will be distributed soon The Shiba Inu burn portal was created in collaboration with the creators of Ryoshi Vision in April 2022. Ryoshi Vision is an ERC20 token, and it was founded to honor the creator of the Shiba Inu ecosystem, “Ryoshi.” While Ryoshi mysteriously disappeared a few weeks ago, Ryoshi Vision strives to fulfill the Shiba Inu creator’s vision. The Shiba Inu burn portal was built to reward holders who burn SHIB with passive income. The rewards would be distributed in the form of RYOSHI tokens, and 0.49% of all transactions would be distributed to owners of burnt SHIB. With the Shiba Inu burn portal launch, a SHIB “BURN Pool” was created to offer rewards for burning the meme coin. Based on data from Shibburn.com, 410.37 trillion Shiba Inu coins have been burnt. The announcement of Ryoshi Vision rewards for burnt Shib showed a massive spike in the number of Shiba Inu coins burnt. Shiba Inu circulating and burnt supply ShibaSwap, the Shiba Inu ecosystem’s native decentralized exchange, announced the launch of Ryoshi Vision rewards within 48 to 72 hours from June 26, 2022. The rewards have been delayed, and ShibArmy had a long wait before any update from ShibaSwap. The team has confirmed that they do not expect any further delay, and the release and another update will be shared upon completion. Ryoshi Vision rewards distribution plan For the first 20 weeks in phase one of reward distribution, every holder of xSHIB (staked SHIB on ShibaSwap) receives an equal quantity. On May 17, 2022, the first phase of rewards distribution to owners of burnt SHIB started; since then reward distribution has been delayed and burnt SHIB holders have waited for the subsequent distribution. According to the distribution plan post-phase one, when phase two begins half of the accumulated rewards would be distributed to RYOSHI WARRIORS: 49% proportional to the owners of the burnt SHIB pool 49% proportional to the ShibaSwap stakers of RYOSHI liquidity pool tokens 1% to the ShibaSwap project wallet 1% to the RYOSHI project wallet The other half of the accumulated rewards would be kept for future distribution cycles. Shiba Inu coin ranks in the top 10 cryptocurrencies among Ethereum whales Based on data from WhaleStats, the Shiba Inu coin now ranks in the top 10 cryptocurrencies by volume among the 500 largest whales on the Ethereum network. Through the recent dips in Shiba Inu price in the bear market, large wallet investors scooped up Shiba Inu coins. Top 100 Ethereum whales hold 512.3 billion Shiba Inu coins, worth $5.9 million. Shiba Inu is the third-largest cryptocurrency holding in the whales’ portfolio after Ethereum and USDC. The meme coin Shiba Inu makes up 15.42% of whales’ portfolios on average. Top 10 cryptocurrencies held by 100 largest Ethereum whales Shiba Inu coin holder count explodes The count of Shiba Inu coin holders has increased consistently as investors continue scooping up the Dogecoin-killer. A total of 1,188,887 wallets hold Shiba Inu coins, climbing toward the 2 million target. The number of wallets holding Shiba Inu increased nearly every day. A rise in the number of wallet holders indicates long-term interest in the ongoing bear market. Shiba Inu coin holders and circulating supply Analysts believe Shiba Inu price could break out Denys Serhiichuk, a leading crypto analyst, evaluated the Shiba Inu price chart and noted that SHIB is approaching local resistance at $0.00001297. The analyst believes a daily candle close near $0.00001200 could confirm a breakout within the next few days. Shiba Inu price is $0.00001165 at press time. SHIB-USDT price chart FXStreet analysts believe Shiba Inu price could rally to $0.00001390 before further consolidation in the meme coin. Analysts believe Shiba Inu price could face challenges on its path to recovery from the recent slump in the crypto market. For more information, watch this video:
Ethereum rejection at channel resistance

ETH: End Of Crypto Crash!? Is Ethereum (ETH/USD) Going To Increase By 45%!? | FXStreet

FXStreet News FXStreet News 24.06.2022 16:36
Ethereum price sees momentum building for a pop towards $1,243.89. With several central banks this week signalling near the end of the rate hike cycle, markets are finding equilibrium. Expect that space ETH price to rally higher and could return to $1,688.39. Ethereum (ETH) price is technically set to make a killing with a possible 8% intraday gain in sight and, in the near term, a whopping 45% gain forecast. The sudden change comes after a few central banks signalled that the end of their monetary tightening is near, and comments from Powell make clear that the FED will push the US into a recession deliberately to cut short inflation and, by doing so, could trigger a massive weaker dollar. That opens up massive room for ETH price action to manoeuvre in, return to the base of the triangle at $1,688.39 and book 45% gains. ETH price gearing up for 45% gains Ethereum price opens quite bullish this morning in the ASIA PAC session after bulls faced headwinds this week but look to survive and eke out weekly gains going into the weekend. As grim and dire as last week's outlook, the background is changing this week with different rhetoric as markets assess the new information from central banks. As it stands, the congressional hearing of Powell revealed that the FED is planning to push the US into recession to tame inflation deliberately. ETH price could trade off this information as a recession in the US would mean a weaker dollar, and several other central banks have notified markets that they are near ending their tightening path, which means that money conditions could start to normalize again with cash inflow set to restart for cryptocurrencies. On the back of that, ETH price could jump above $1,243.89 and have the field wide open to rally in, with sight set on the base of the bearish triangle from May at $1,649.37. ETH/USD daily chart The delicate equilibrium currently playing with the situation in Ukraine and Russia could easily break down again with the cut-off from supply chains to the Russian enclave Kaliningrad. That could see a Russian military response and ramp up tensions again on the geopolitical stage. That would come with a wave of risk-off again and smash ETH price back to $1,000 and possibly see it slip back below $900 for support. Do not even rule out a test at $830.93 at the pivotal historic level already marked up.
Terminal rate spook, crypto dissolve, and Netflix credit warning | Saxo Bank

Meme Stocks: AMC Entertainment Stock News and Forecast: Has AMC bottomed out yet?

FXStreet News FXStreet News 24.06.2022 16:36
AMC stock continues to just about hold the lows. Signs show that equities may have bottomed out in the short term. AMC remains under pressure as S&P 500 earnings are likely to fall next quarter. AMC stock is holding recent gains despite falling over 4% on Thursday. AMC so far appears to have bottomed out last week along with much of the equity market. AMC stock is just down 1% this week and is up 6% on the month. Whether that is a true bottom remains to be seen, but overall we remain bearish on equities until earnings estimates fall, likely after Q2 earnings. AMC Stock News: Lightyear disappoints The Toy Story spin-off Lightyear has disappointed critics, takings and your author. Having watched the film earlier this week, it is a far cry from the high watermark set by all the other Toy Story films. Word of mouth seems to be hurting takings, which are still dominated by Top Gun: Maverick and the latest Jurassic Park installment. Disney (DIS) stock also lost ground after the Lightyear figures, which were shy of projections. AMC CEO Adam Aron hits the front of the LA Times AMC CEO Adam Aron has wisely engaged on Twitter with his AMC apes. This week he thanked them for a front page article in the LA Times covering the AMC story so far. AMC stock sees new hedge fund taunts The power of AMC apes has been questioned now that markets have turned bearish and meme stocks in general are getting badly hit across the board. This week the nemesis of AMC apes, hedge funds, saw one of their members openly taunt the AMC base on CNBC. Hedge Fund manager Cliff Asness of AQR Capital Management disclosed a short position in AMC and said on CNBC: "I dare all the meme stock maniacs to try to hurt us"...It's terrible on everything we care about," he said. "It is super expensive, super unprofitable and super high beta and volatility."..."Let them come. It's 12 basis points. They're crazy people, and I will not notice them, but they can have their fun." This time 12 months ago that would have been enough to see a massive reaction from AMC traders, but so far the stock has failed to ignite. JPMorgan had a report out earlier this week that retail traders are finally capitulating, so perhaps that is truly the case. AMC stock price target Last week B. Riley Securities moved their price target to $11, and now the average consensus among Wall Street analysts is a sell rating with an average $9.24 price target. AMC stock forecast We tend to agree with the negative thesis. While the stock market may bottom out later this year in the face of a recession, AMC faces a tough journey. Cinema attendances held up reasonably well during the Great Financial Crisis in 2008 onwards, and cinemas are often cited as recession-proof. But that may not transfer through to stock performance. From 2008 to 2010 Cinemark (CINE) fell about 60%, more or less in line with the broader market with the S&P down 50%. In times of recession cinema attendance holding up was largely down to escapism. Now with the rise of streaming, there is an alternative. AMC chart, daily
EUR/USD Forecast: Tolling recession bells push the dollar higher

EUR/USD Forecast: Tolling recession bells push the dollar higher

FXStreet News FXStreet News 23.06.2022 16:35
EUR/USD Current Price: 1.0503The EU S&P Global flash PMIs reflected a sharp economic slowdown at the end of Q2.US Federal Reserve chief Jerome Powell will repeat his testimony before Congress.EUR/USD is struggling to retain the 1.0500 threshold and is poised to extend its slump.Risk-off returned on Thursday, pushing EUR/USD towards the 1.0500 price zone, where it currently trades ahead of the US opening. Comments from US Federal Reserve Chair Jerome Powell on Wednesday fueled recession concerns. Testifying before Congress, Powell acknowledged that hiking rates too fast lifts the risk of recession, yet at the same time, reaffirmed that policymakers believe the current pace of hikes remains appropriate. Chief Powell will testify again on Thursday before a different commission, but he is not expected to add much new to what he already said.Further fueling the dismal market's mood, macroeconomic data hinted at an economic slowdown in the EU. The flash S&P Global PMIs for June painted a gloomy picture as EU economic growth deteriorated to a 16-month low, reflecting a stalling of demand growth. The manufacturing PMI contracted to 52, while the services index shank to 52.8 from 56.1 in May.The picture was pretty much the same in Germany, as the report showed the economy lost momentum at the end of the second quarter while adding that "firms' expectations towards future activity slumped to their lowest since the first wave of the COVID pandemic over two years ago, with manufacturers growing increasingly pessimistic about the outlook." Germany's flash Manufacturing PMI printed at 52, while the services index came in at 52.4.At the same time, German Economy Minister Robert Habeck announced the country would move to stage two of its three-stage gas plan amid reduced Russian flows. Ever since the war began in Ukraine, fuel shortages have been Europe's main concern. This particular phase does not mean state intervention, scheduled for the next one.Demand for government bonds amid growth fears pushed yields lower, with the yield on the 10-year Treasury note currently at 3.10%. Meanwhile, European stocks are struggling to advance while Wall Street's futures hover around their opening levels.The US has just published Initial Jobless Claims for the week ended June 17, which rose to 229K, while the Q1 Current Account posted a deficit of $ 291.4 billion, both missing the market's expectations. S&P Global will publish June US flash PMIs later in the day.EUR/USD short-term technical outlookThe EUR/USD pair is trading near a daily low of 1.0482, and technical readings in the daily chart point to another leg lower. The pair met sellers around a firmly bearish 20 SMA late on Wednesday, with the indicator currently at around 1.0600. Meanwhile, the Momentum and the RSI indicators head firmly south within negative levels, reflecting growing selling interest.In the near term, and according to the 4-hour chart, the pair is neutral-to-bearish. It is currently developing below all of its moving averages, with the 100 SMA now aiming to cross below the 200 SMA. Technical indicators, in the meantime, seesaw around their midlines without clear directional strength. The pair has been meeting intraday buyers at around the 1.0480 price zone, now the level to beat to confirm additional declines.Support levels: 1.0480 1.0430 1.0785Resistance levels: 1.0555 1.0600 1.0640
How $1 extra gain could trigger a 35% profitable rally in Solana

How $1 extra gain could trigger a 35% profitable rally in Solana

FXStreet News FXStreet News 23.06.2022 16:35
Solana price has bulls drilling on an ascending long-term trend line.SOL price is expected to rally 35% towards $50 once bulls can jump above the trend line.Traders could be in for an upside surprise as cryptocurrencies are diverging from the ruling US dollar.Solana (SOL) price is on the brink of jumping a whopping 35%, as the only element that stands between the bulls and those gains is the longer-term ascending orange trend line, currently playing hard to break. On Tuesday, a false break above triggered a squeeze and bull trap. On Thursday bulls are back knocking on the door of the same trend line, looking to pop above it with just one extra $1 to cross at the time of writing. Breaking above this level could trigger a massive buy-frenzy, with bulls trying to be part of this bullish breakout, and price action running up towards $50.SOL price could see a buying frenzySolana price is on the cusp of giving bears a knee jerk reaction as bulls are drumming at the gates from the orange ascending trend line. A Black Friday sale springs to mind, as a breakout above that long-term trend line would spark massive buying momentum, with bulls jumping on every price in sight to be part of the rally towards $50. With that buy-side demand overweighting the offers, expect to see some bears closing out their positions and possibly bringing SOL price to the edge of the current downtrend.SOL price thus only needs an extra $1 to jump to $37.70 and pop back above the orange ascending trend line. This indicator formed a bull trap earlier this week, but the current market diversion between cryptocurrencies and global markets could avoid a repetition of this pattern and see a solid rally into the $40s. If this sentiment continues towards the weekend, the 55-day Simple Moving Average at $50 comes into play as the first cap to the upside, muting price action for further gains.SOL/USD daily chartA simple repetition of Tuesday could hurt bulls in their attempt and see them trapped yet again. With investors fed up, losing money on trades that go nowhere and only return losses, it is feasible to see a scenario where bulls leave the scene and trigger an initial drop back to $30 and subsequent $25 in a tiered path to the downside. That would result in a roughly 27% drop and back to the lows of 2022.
How a sell-off in US commodities provides headwinds for Terra’s LUNA 2.0 price

How a sell-off in US commodities provides headwinds for Terra’s LUNA 2.0 price

FXStreet News FXStreet News 22.06.2022 16:48
Terra price takes a beating as commodities sell-off with oil touching down on $100, Iron ore tanking 10% in two days.LUNA price sees investors pulling further cash out of cryptocurrencies.Although dollar strength remains balanced, the new round of risk-off is hurting LUNA yet again.Terra (LUNA) price is coming under scrutiny as the last asset class set to fall from recession fears and inflation persistence rolls over. After the stock markets entered a bear cycle and bonds already took a beating, the last castle standing is the commodity super cycle. As prices have risen higher, demand has been fading, resulting in an oversupply in certain commodities, making the elevated prices unjustified and triggering a sell-off in the asset class, which is spilling over to a flight into cash, with cryptocurrencies seeing another exodus of investors.LUNA price set to tank 35%Terra price sees bears drilling on $1.937 after LUNA price was able to pop back above the level following the completion of its bearish triangle from last week. After almost every asset class had its correction, the last one left standing was commodities, which were rallying in their super cycle. Now sentiment is turning, however, as elevated prices have become unsustainable for specific production processes and have thus started to see demand fading while stockpiles rise. LUNA price is undergoing another exodus of cash, linked to the correction in commodities, with copper, WTI crude oil and iron ore all selling off multiple percentage points as demand starts to fade, but inflation remains elevated. The commodity sell-off is another indication a recession could be around the corner. With that flight into cash, a liquidity drought is at hand in Terra price, which could see a break below the 50% Fibonacci level at $1.7662 and a drop to $1.3494 follow, near the 61.8% Fibonacci level, losing 35% in total.LUNA/USD daily chartThe upside potential for LUNA price comes from risks to the dollar as most commodities are quoted in dollar prices. The intrinsic value of the dollar is at risk should there be a recession. The US is the world’s largest economy but it is still, nevertheless, vulnerable due to its high debt and large number of households holding credit card debt, which becomes heavier in a recession with higher rates and repayments due. So luckily, the absent dollar strength is not triggering a falling knife, and could see a possible pop back towards $2.6987, which is the 23.6% Fibonacci level.
AMC Stock News and Forecast: Have meme stocks bottomed out?

AMC Stock News and Forecast: Have meme stocks bottomed out?

FXStreet News FXStreet News 22.06.2022 16:48
AMC stock failed to catch a bid on Tuesday despite broad market gains.AMC shares did however gain over 6% on Friday.Latest Lightyear film fails to reach infinity for AMC.AMC stock held its ground in a lackluster session for the former meme stock king on Tuesday. Curious, given the advance in broader markets. AMC settled for a loss of 0.2% to close Tuesday at $12.50. The long weekend due to the Juneteenth holiday should have presumably helped box office takings. With Tuesday appearing to be a risk-on day, the underperformance of AMC could ring some alarm bells in the ape community.Lightyear to infinity and belowLightyear, the latest Disney Pixar release, has underwhelmed, both in terms of attendance and in maintaining the high standard of the Toy Story movies. It is often unusual to talk about cinema attendances when they have had such little impact on AMC stock in the recent past. There is no escaping from that, even if usually, it is the latest short interest numbers that garner the most attention from the AMC apes or the latest diversion into alternative assets, from gold to crypto to AMC popcorn. I speak from experience having only watched the movie on Monday. Box office takings were down versus expectations. US takings for the Buzz Lightyear film came in at $50 million despite a widespread opening. Adding on international taking brings it up to circa $85 million but the expectation was nearer $100 million-plus.Jurassic World Dominion and Top Gun Maverick continue to hold the top spots in box office takings. Disney stock fell 1% on Tuesday and is down 2% on Wednesday, coincidence, I think not!Adam Aron losing grip on AMC apesAdam Aron, the AMC CEO, lost a compensation vote at the last AMC shareholder meeting. That is an interesting twist, as AMC apes had been very supportive of Aron. Nearly 87 million votes were cast against the AMC CEO with only 52 million backing the pay proposal for AMC executives. The vote is non-binding so it carries merely symbolic importance. Fear not for the AMC boss, as he still gets to have his cake and eat it.Last week, Aron attempted to address a favourite theory of the AMC apes, that of hidden or fake shares being used to short AMC. Did the apes turn on him then and vote against his pay deal? Well, hardly it was mostly institutional holders holding the block votes.AMC stock trend: Have meme stocks bottomed out?While the narrative has shifted toward not if but when the US economy will enter a recession there may be signs of life Jim but not as we know it in the previously hammered meme stock or high-risk equity space. The classic stick to beat was the ARKK ETF which looks like it may have put in a double bottom, chart below. The chart below ARKK is the China Internet ETF KWEB which has indeed bottomed out back in the middle of March. So is it time to once again launch back into meme stocks and squeeze those shorts?ARKK chart, dailyKWEB ETF daily chartAMC stock forecastAMC stock is showing signs of a nascent uptrend. That's my word of the day out there! There is some hope for beaten-down meme stockholders. While AMC shares did not rally on Tuesday other meme names did with GameStop (GME) up 4% and EV stocks also pushing higher. Our view remains negative but we are on watch for a risk-on rally.AMC stock daily chart
ETH/USD May Scare Many! Market Crash: Can 1 ETH To USD Reach $750!?

ETH/USD May Scare Many! Market Crash: Can 1 ETH To USD Reach $750!?

FXStreet News FXStreet News 21.06.2022 16:34
Ethereum collateral position set a new record as 71,863.47 ETH were liquidated on June 18. Independent market analyst told his followers that latest Ethereum price rally would make for a clean fakeout. Analysts believe Ethereum price could plummet to $750 in the bear market, an 85% drop from all-time high. Ethereum price has rebounded from its recent slump, outperforming Bitcoin. Experts believe the recent rebound could end up being a “clean fakeout” as liquidations hit large Ethereum collateral positions. Some analysts are projecting a bearish outlook on Ethereum price. Largest Ethereum collateral position liquidated Based on data from Dune Analytics, a crypto data intelligence platform, the wallet with code 0x2291F52bddc937b5B840d15E551e1DA8C80c2B3c liquidated a 71,863.47 ETH collateral position on Liquity at $927.13, at 19:39 GMT on June 18. This set the largest single liquidation record for Liquity. Liquity is a decentralized borrowing protocol that allows users to draw loans at 0% interest against an Ethereum collateral. Loans are paid out in LUSD, a USD-pegged stablecoin on Liquity protocol. The chart below represents the hourly total value locked (TVL) change over the past week on Liquity and the largest ETH liquidation is represented on June 18. Hourly TVL Change (7 days) Liquity Ethereum price gained 30% in two days, outpaced Bitcoin After its massive recent slump, Ethereum price has bounced back, rallying 30% within 48 hours. Experts noted that this ETH recovery has outpaced Bitcoin as the altcoin made a comeback above $1,100 within two days. Experts noted that Ethereum is currently the best-performing asset in the top five cryptocurrencies by market capitalization. Ethereum started a short-term uptrend after dropping to the support zone at $880 on June 19 and climbed above $1,100 moving into a short-term bullish zone. The altcoin now faces major resistance near the $1,150 and $1,160 levels. ETH-USD price chart Analyst calls “clean fakeout” in Ethereum price PostyXBT, a crypto trader and analyst, told his 79,900 followers to be careful of the recent rebound in Ethereum price. The analyst argued that the move “would make for a clean fakeout.” The analyst was quoted in a tweet: [Ethereum]... stopped out on the reclaim of the level. It looks like an opportunity to flip long towards $1250 but $btc still hasn't reclaimed it's like for like level. Would make for a clean fake out. Be careful. Justin Bennett, co-founder of Cryptocademy, supports this fakeout prediction. Bennett noted that fakeouts to one side of the pattern trigger extended moves in the opposite direction. He considers $900 and $780 as support levels for Ethereum price. Ethereum price could drop to $750 for this reason Wendy O, the host of the O show and a leading crypto analyst, believes Ethereum price could plummet to a $750 low. Wendy argues that the current price of Ethereum is close to the beginning of 2021. Typically in bear markets, Bitcoin and Ethereum prices can drop up to 85%. If this holds true, an 85% drawdown from Ethereum’s all-time high of $4,800 would lead to $750 and this is the level that Wendy is watching out for. Wendy told NextAdvisor, Ethereum hit an all-time high in November 2021 at roughly $4,800, so an 85% correction would lead to around $750. However, it’s not going to be a straight shot down. Key investment strategy before next Ethereum bull run Analysts at FXStreet have recommended dollar cost averaging (DCA) as the ideal investment strategy before Ethereum’s next bull run. They consider $900 the bottom for Ethereum price and recommended $500 investments when price hit $1,000 and again when it hit $1,100. For more information, watch this video:
Podcast: Commodities rout points to recession fears

Elon Musk Firing People!? Will (TSLA) Tesla Stock Price Plunge!? | FXStreet

FXStreet News FXStreet News 21.06.2022 16:34
TSLA stock is up 3% to $670 in Tuesday's premarket. Musk announces plan to cut 3% to 3.5% of total headcount. Tesla being sued for recent mass layoffs in US. Tesla (TSLA) CEO Elon Musk announced at the Qatar Economic Forum on Tuesday morning that his market-leading EV manufacturer was planning to lay off as much as 3.5% of its workforce immediately, including 10% of salaried workers. This is actually a reduction in scope by Musk, who said earlier in June that he had a "super bad feeling" about the economy not long after JPMorgan CEO Jamie Dimon said a "hurricane" was on its way toward the US economy. At that time an internal memo from Musk called for a 10% reduction in headcount. TSLA stock is up 3% to $670 in Tuesday's premarket on the news. Tesla Stock News: Layoffs appear short-lived At the Qatar forum in an interview with Bloomberg's News' Editor-in-Chief John Micklethwait, Elon Musk said the 10% of job cuts were meant only for salaried workers, as opposed to hourly manufacturing workers, because the salaried workforce had grown too quickly. “A year from now, I think our headcount will be higher," Musk added. Tesla, headquartered in Austin, Texas, now has around 100,000 employees, so this would mean that approximately 3,000 to 4,000 employees would be terminated overall. The company is already facing lawsuits for terminating 500 employees at its Nevada gigafactory earlier this month. Two employees, John Lynch and Daxton Hartsfield, have brought suit, arguing that Musk's company violated the 60-day notification period required for mass layoffs under the Worker Adjustment & Retraining Notification Act. "It's pretty shocking that Tesla would just blatantly violate federal labor law by laying off so many workers without providing the required notice," said attorney for the workers Shannon Liss-Riordan in an interview with Reuters. Musk downplayed the lawsuit when asked about it in Qatar, calling it "trivial". It is uncertain how, if at all, these layoffs would affect overseas workers. Tesla's gigafactory in Shanghai has only just gotten back in gear with exports resuming in May. Tesla exported over 22,000 vehicles from its Chinese factory in May after covid lockdowns in March and April forced it to only export 60 units. News from its factory outside Berlin is that the EV maker is being forced to raise salaries to attract talent from other automakers. Birgit Dietze, a representative for the IG Metall regional union, said that Tesla's hiring is behind schedule as it plans to hire 12,000 employees by the end of the year. This has forced Tesla to raise starting salaries by as much as 20% in order to reach hiring goals. Dietze said this will difference in pay between early hire and late hires will cause consternation at upcoming collective bargaining talks. Tesla Stock Forecast: $700 is the barrier to beat With TSLA shares rising as Elon Musk seeks to control costs, $620 remains the key support for now. Its strength comes from February 24's steep loss that held up there, but it also worked back in August 2021. Breaking through $700 turns this resistance level back into support and places TSLA stock back in neutral territory. The 20-day moving average sits nearby $700 and should also provide some resistance. If Tesla stock fails to conquer $700, then shares will likely descend back to support at $620. From there, based on the descending lower trend line, TSLA is destined for either $600 or more likely $550. That last price held strong in March and May of 2021. It is important to remember that the 20-day is way below the 50-day moving average, and that means TSLA share price is definitely still in a downtrend. Do not expect it to end until Tesla breaks and holds $700 for at least a week. Above $700 lies further resistance at $756. Breaking through the last swing high close of $775 and closing above it will spell a new bull market for the EV leader. Tesla stock daily chart
Ethereum price dips toes below $1,000, bulls quickly push back

Ethereum price dips toes below $1,000, bulls quickly push back

FXStreet News FXStreet News 20.06.2022 16:37
Ethereum price dips beyond the new area for recovery.ETH price will drop 50% before finding key support to halt the descent.Expect an L-shaped to W-shaped recovery, as current tail risks will linger for some time.Ethereum price dipped below the psychological $1,000 mark during the weekend, as bears continued to dominate price action on Saturday. The market took a turn on Sunday, though, as the whole crypto ecosystem was able to bounce back and several coins recovered key levels, with Bitcoin leading the way back above $20,000. ETH price was even able to recover above $1,100, where it is trading at the time of this update (Monday, 10 GMT). The celebration of Juneteenth in the United States on Monday will likely keep markets under calm waters for most of the day but, despite the recent bounce, ETH bears are likely to continue to push for another break below $1,000. Now the question is, where will Ethereum bottom out?Ethereum (ETH) price has lost too much intrinsic value this week to make a decent recovery to $1,404, from where it could rally back to $1,600. Instead, investors will need to take it on the chin and see another 50% price discount as ETH price could crash to $570 once it breaches $1,000. That could come quickly as a break below $1,000 will trigger doubt amongst investors and bite into the credibility of the second-biggest cryptocurrency.ETH price could see a rapid descent as investors lose faithEthereum price was set to outpace at one point Bitcoin price action as media jumped all over the second-largest cryptocurrency only a few months ago. How quickly the image of Ethereum faded from brightest to worst performer in the class. Ethereum price is seeing cash flee by the minute, and with that, its decline is almost unstoppable. ETH price is holding on by a few threads, and once $1,000 is broken to the downside, expect those threads to give way. ETH price will tank in a falling knife price action and half in price around $570 to come to a halt, losing a lot of its feathers. If that discount is enough, it remains to be seen, but even then, a quick turnaround will not be a given and instead see a spun-out lateral move until signs are there that more funds are being poured into cryptocurrencies and demand picks up.ETH/USD weekly chartShould there be a turnaround, expect it to be on the back of the headline release with, for example, a breakthrough on peace talks with Russia or a retreat of Russian troops. That would give a sigh of relief through the markets and trigger a quick recovery with ETH price spun around quickly to $1,404 and following up to $1,688. With that, a new high for June would be printed.
USD/JPY Price Analysis: Bulls have the upper hand, gearing up for a move beyond 136.00

USD/JPY Price Analysis: Bulls have the upper hand, gearing up for a move beyond 136.00

FXStreet News FXStreet News 20.06.2022 16:37
USD/JPY lacked any firm direction on Monday and seesawed between tepid gains/minor losses.Bulls need to wait for sustained strength beyond the 135.50-60 area before placing fresh bets.Break below the 134.00 mark might prompt aggressive selling and expose last week’s swing low.The USD/JPY pair struggled to capitalize on Friday's dovish Bank of Japan-inspired strong move up and witnessed subdued/range-bound price action on the first day of a new week. Spot prices seesawed between tepid gains/minor losses through the early North American session and now seem to have stabilized in neutral territory, around the 135.00 psychological mark.The recent sharp pullback in the US Treasury bond yields prompted some US dollar selling and turned out to be a key factor that acted as a headwind for the USD/JPY pair. That said, a generally positive tone around the equity markets, along with the Fed-BoJ monetary policy divergence, undermined the safe-haven Japanese yen and extended some support to spot prices.From a technical perspective, the intraday pullback from the vicinity of mid-135.00s constitutes the formation of a bearish double-top on short-term charts. The lack of follow-through selling, however, warrants some caution before positioning for any meaningful downside. Moreover, oscillators on 4-hourly/daily charts are still holding in the bullish territory.The mixed technical setup makes it prudent to wait for a sustained move in either direction before positioning for the near-term trajectory. A convincing break through the 135.45-135.50 resistance zone would be seen as a fresh trigger for bullish traders and allow the USD/JPY pair to reclaim the 136.00 round-figure mark for the first time since 1998.The subsequent move up has the potential to lift spot prices towards a nearly two-week-old ascending trend-line resistance, currently near mid-136.00s.On the flip side, the daily swing low, around mid-134.00s now seems to protect the immediate downside for the USD/JPY pair ahead of the 134.30-134.20 horizontal support. This is closely followed by the 134.00 round figure, which if broken decisively would validate the double-top bearish pattern and prompt aggressive long-unwinding trade.The USD/JPY pair might then turn vulnerable to break below the 133.00 mark and test the next relevant support near the 132.45 region before dropping to the 132.00 handle. The corrective decline could eventually drag spot prices back towards the 131.50-131.30 horizontal resistance breakpoint. The latter should act as a strong near-term base for the major.USD/JPY 4-hour chart
Is Crypto Crash Still There!? Why does Bitcoin (1 BTC To USD) continue to decline despite the rise in "buy the dip" sentiment?  | InstaForex

Crypto Prices: Will LUNA Price Drop Significantly!? Bitcoin And ETH Are Not Only Ones Which Have Decreased! | FXStreet

FXStreet News FXStreet News 17.06.2022 13:40
Terra price action reveals a playbook trade setup. LUNA price is set to fall at least another 16% towards base support. Expect a possible slaughter in the coming weeks as cash volumes keep diminishing. Terra (LUNA) price action is starting to reveal its next playbook move and it could not be more clear-cut with the formation of a bearish triangle pattern. Expect to see pressure mounting further on the base, triggering a possible break to the downside. Given global headwinds are not set to fade anytime soon, expect to see further drops in price action towards possibly just a few cents from the initial offering price. LUNA price screams sell Terra price is set to tank another leg lower and could well be on track towards a quotation of just a few cents. As the plane called Terra is trying to make a soft landing, it is just a matter of time before the fuel (the cash) runs dry. With households and retail traders seeing less and less disposable income because of higher prices eating into their household budgets, less money is available to allocate towards cryptocurrency investments. LUNA price is thus possibly in for a hard landing, as to make matters worse, now a bearish triangle is forming that screams that the pain game and the overall descent are far from over. Expect to see more pressure mounting on $1.9370, with the intermediary red tilted trend line over the top to provide a cap. Once bulls forfeit their positions at $1.94, expect to see bears piercing through that level and possibly running price action to the downside towards $1.50 or $1.00 before restarting a new distribution phase with some sideways price action and possibly another bearish formation to prelude the next leg lower. LUNA/USD daily chart Should a turnaround be triggered by a relief headline, on the other hand, or some data released that points to the fact that inflation is starting to drop, expect a bullish knee-jerk reaction with a break above the red descending trend line. From there, the price could quickly rally towards $3.50 and pop 45% higher as bulls jump on the buy signal. Depending on the longevity or game-changer aspect of the headline, $3.80 could also be tested.
Sidus Space Stock News and Forecast: SIDU stock to the moon

Sidus Space Stock News and Forecast: SIDU stock to the moon

FXStreet News FXStreet News 17.06.2022 13:40
SIDU stock soars on news of NASA contract.SIDU is a space as a service company based in Cape Canaveral, Florida.SIDU launched via SPAC on the stock market in December 2021.Sidus Space (SIDU) stock is heading to the moon, to borrow a phrase from the wildly successful but now nearly extinct AMC Apes. Some of you reading may take offense to that. They are not extinct but definitely under pressure as stock markets continue their journey south this year. Former retail darlings are few and far between, and the kind of super spikes we saw in meme stocks are becoming rarer sights. Redbox (RDBX) is the latest one, which is working quite well as a short squeeze. The reason though for the sharp move higher in Sidus Space stock is just more a case of some strong fundamental news. SIDU closed up 63% on Thursday following on from a gain of 225% on Wednesday. So why the rocket launch?SIDU stock newsSimply put, the award of a potentially lucrative contract from NASA has the potential to transform the fortunes of SIDU. The company announced on Wednesday that it was selected as a teammate on the latest $3.5 billion NASA extravehicular activity services contract. Sidus Space describes itself as a "space as a service" company. SIDU has designed and manufactured many components for both flight and ground use in space-related activities. Sidus Space wants to "Bring Space Down to Earth" and offers companies low-cost satellite services.The Extravehicular Activity Services Program (xEVAS) is expected to include the design and manufacture of a new spacesuit and related hardware. The xEVAS program includes the design and development of an extravehicular activity capability. The program will service the NASA International Space Station's Artemis Program and other commercial space missions. The xEVAS contract could be worth up to $3.5 billion through 2034. The contract was awarded to Collins Aerospace and Axios Space. Sidus Space is a teammate of Collins Aerospace for the duration of the xEVAS program. Collins Aerospace is a division of Raytheon Technologies (RTX). Carol Craig, CEO of Sidus Space, said, “We are proud to be part of the Collins xEVAS team in development and manufacturing of the next generation space suits to support ISS and Artemis, allowing humans to walk and explore the moon."In plain english, as we understand it, SIDUS Space is a subcontractor for Collins and will work on stuff for space suits and maybe moonwalks and related space vehicle access.SIDU stock moved from $1.44 to $9.22 between Tuesday's close and Thursday's high. SIDU stock forecastSIDU does not have a chart for technical analysis, but it is interesting to see the huge spikes. SIDU daily chart
What will happen to Terra’s LUNA 2.0 price after claims that Terraform Labs was behind UST collapse

What will happen to Terra’s LUNA 2.0 price after claims that Terraform Labs was behind UST collapse

FXStreet News FXStreet News 16.06.2022 16:58
Analysts have investigated the Terra LUNA crash from May 2022 and suspect it could be an inside job. The US SEC and South Korean watchdogs continue their investigations as a firm discovers a wallet that is implicated in UST de-pegging. LUNA 2.0 price struggles to recover; analysts expect Terra’s new chain token to make a comeback. As financial watchdogs launched an investigation into the collapse of Terraform Lab’s sister tokens, LUNC(previously LUNA) and UST, new findings implicate the firm, implying the de-peg was an inside job. A wallet associated with the de-peg of TerraUSD likely belongs to Terraform Labs. Terra LUNA crash, an inside job?Following the colossal crash of LUNC(previously LUNA) and UST, regulators and financial watchdogs have launched an investigation of Terraform Labs, and co-founder Do Kwon. The US Securities and Exchange Commission (SEC) and South Korean authorities have pursued their investigation, and new findings could aid the process. An investigation by Uppsala Security, Decentralized Solutions for Cyberspace Security Technology, revealed that Terraform Labs managed the wallet behind the attack. A wallet associated with the de-pegging of algorithmic stablecoin UST has been identified and labeled as “Wallet A.” The firm suspects that said wallet has a link to Terraform Labs, and that the wipeout of nearly $40 billion in market value after the LUNA-UST collapse was an inside job. The firm revealed that one address implicated in the initial run-up to UST decline and considered responsible for de-pegging was owned or controlled by Terraform Labs (TFL) or the Luna Foundation Guard (LFG), or related parties. Further, the investigation revealed accounts that were linked to the incident, some addresses on Binance and Coinbase that transferred TerraUSD (UST), USDC, and USDT between each other.Uppsala Security traced the flow of funds from UST to MIM and MIM to USDT. Starting November 2021, wallets controlled by Terraform Labs swapped billions of dollars worth of UST into MIM and eventually into USDT. The cyberspace security tech firm studied how funds were transferred to exchange accounts, some of which were controlled or owned by Terraform Labs founders and the firm. The firm is yet to identify the final details concerning the use of the funds within the exchanges or crypto trading firms; they have identified potential leads for further investigation. The following were identified as wallets of interest:Wallet A: 0x8d47f08ebc5554504742f547eb721a43d4947d0aWallet A(T): terra1yl8l5dzz4jhnzzh6jxq6pdezd2z4qgmgrdt82kBinance user account Memo: 104721486 (terra1ncjg4a59x2pgvqy9qjyqprlj8lrwshm0wleht5)Binance user account Memo: 100055002 (terra1ncjg4a59x2pgvqy9qjyqprlj8lrwshm0wleht5)Depositors: terra13s4gwzxv6dycfctvddfuy6r3zm7d6zklynzzj5 (LUNC DAO)terra1t0an4m6t47rp3mj57rdfzw6dpd3lw8erxjppgwInterchange Wallet A: 0xa046a8660e66d178ee07ec97c585eeb6aa18c26cExchange Wallet A: 0x21ec2dbb3bfd2210a84bbc924466a70becddd572Uppsala is examining the actions taken by these wallets until the day of the Terra LUNA crash and the connection between these addresses through on-chain data. LUNA 2.0 price could make a comeback soonAnalysts at FXStreet have evaluated the LUNA 2.0 price trend and predicted a comeback in the token’s price. Analysts identified a key level to watch before LUNA witnesses a bullish breakout. If LUNA 2.0 price hits $3.5, it will confirm a bullish breakout and an uptrend in the token of the new Terra chain. For more information, watch this video:
Digital World Acquisition Corp Stock Forecast: DWAC rallies 9.3% on statement about working with SEC

Digital World Acquisition Corp Stock Forecast: DWAC rallies 9.3% on statement about working with SEC

FXStreet News FXStreet News 15.06.2022 16:46
DWAC rises 9.3% in Wednesday premarket.Digital World Acquisition Corp says it is cooperating with SEC.Trump social media company may fail to merge with SPAC.Digital World Acquisition Corp (DWAC) stock has decided to rally a surprising 9.3% in Wednesday's premarket a day after shares plummeted 28.2% on news that the Securities & Exchange Commission (SEC) was expanding its probe into DWAC's proposed merger with former President Donald Trump's Trump Media & Technology Group, which owns the Truth Social media platform. The SEC wants to know if DWAC, a special purpose acquisition vehicle (SPAC), had begun negotiations with TMTG before DWAC went public, because doing so would be illegal. Wednesday's premarket rally appears to be in response to Digital World Acquisition releasing a statement that it is cooperating with the SEC."Digital Word appreciates that the Securities and Exchange Commission (the "SEC") is tasked with protecting investors and is working to provide the SEC staff with information, pursuant to previously disclosed subpoena requests, so that the SEC has what it needs to conduct and conclude its investigation. The Digital World team continues to diligently work towards completing the Business Combination, which includes approximately $1.25 billion of net proceeds to TMTG at close, assuming no redemptions by Digital World stockholders, in order for investors to have the opportunity to participate in the Business Combination," the DWAC statement reads.The filing from Monday shed light on a new subpoena not covered before on a filing from May 31. The more recent subpoena appears to show the SEC more closesly scrutinizing the merger.This subpoena seeks additional documents and information with respect to, among other things, communications regarding and due diligence of potential targets other than TMTG, relationships between and among Digital World (and/or certain of Digital World’s officers and directors) and other entities (including ARC Global Investments II LLC (the “Sponsor”) and certain advisors, including Digital World’s underwriter and financial advisor in its initial public offering), the holders of ownership interests in the Sponsor, certain elements of the transaction history for equity in the Sponsor, and certain forward-looking information about TMTG referenced in the Registration Statement. Any resolution of the investigation could result in the imposition of significant penalties, injunctions, prohibitions on the conduct of Digital World’s business, damage to its reputation and other sanctions against Digital World. In addition, the Section 8(e) order of examination of the Registration Statement can be expected to delay effectiveness of the Registration Statement, which could materially delay, materially impede, or prevent the consummation of the Business Combination.That last part is key. Preventing "the consummation of the business combination" would mean an end to the merger and mean DWAC was once again worth the initial investment – i.e. $10. DWAC Stock Forecast: We're going to $10, folksThe chance of the merger not happening is fairly high, maybe as high as 50%. The SEC has rarely scrutinized SPACs during the past three years they have been popular. Even if the merger does go through though, do not expect a quick turnaround. As we wrote back on February 17: At its current price, DWAC is priced at $3.2 billion. The closing of the merger, however, means that a 30-day clock begins. When the 30 days post merger is up, then separate shares allotted to insiders, underwriters and private investors who invested in the SPAC's separate PIPE deal (Private Investment in Public Equity) before the merger closed can begin trading their shares. This means that the current 37.2 million or so shares available to trade will grow overnight to more than 170 million."On top of that there are some 40 million "earnout" shares that get minted to company insiders and owners like the Trump family if the share price remains above $15, $20 and $30 a share in the month after the merger. The math is complicated, and the share count could change for a host of reasons, but one prominent forecast making the rounds estimates there will be over 193 million shares post-merger. This does not even include warrants that could add an additional 15 million shares in September.At least one short-seller thinks DWAC is primed to drop post-merger and issued a $36 price target. That target seemed quite low back at the start of the year but now is above the current share price close on Tuesday. Support at $35 to $37 has broken down, and with little if any support underneath there, investors or traders should expect this one to head back toward $10. The $35 to $37 range should now be seen as resistance.DWAC daily chart
Market Crash: Are Ethereum (ETH) And Bitcoin (BTC/USD) Price "Very Close To Their Bottom"!? | FXStreet

Market Crash: Are Ethereum (ETH) And Bitcoin (BTC/USD) Price "Very Close To Their Bottom"!? | FXStreet

FXStreet News FXStreet News 15.06.2022 16:46
Analyst who predicted the bear market of 2018 believes Bitcoin and Ethereum prices are very close to their bottom. Kevin O’Leary of Shark Tank detailed his crypto holdings include Ethereum and scaling solution MATIC. Analysts argue that a drop below $1,070 could push Ethereum prices lower. The cryptocurrency analyst known for accurately predicting crypto bear markets believes Ethereum is close to printing cycle lows. Analysts believe Ethereum price could continue to plummet lower. Ethereum price could hit bottom soon? The crypto strategist Smart Contracter accurately called the bottom of Bitcoin and Ethereum during the 2018 bear market. The analyst is now back with his prediction for the two largest cryptocurrencies and believes BTC and ETH are close to their cycle low. The analyst told his 208,000 followers on Twitter that Ethereum has gone through a capitulation phase and is now trading at a level that offers strong support. Smart Contracter is quoted in his recent tweet: BTC and ETH are both at their weekly respective 200-week moving averages. Bottom is very, very close in my opinion, maybe marginal new lows on lower timeframes but this is the spot to start accumulating in my opinion. This is pure unadulterated capitulation. ETH-USD price chart Kevin O’Leary is bullish on Ethereum Kevin O’Leary, a Canadian entrepreneur and investor at Shark Tank, recently revealed the cryptocurrencies in his portfolio. O’Leary has shared his investment strategy when the crypto market is hit by massive volatility. The Shark Tank star and billionaire investor abide by the general rules of portfolio theory when allocating capital to cryptocurrencies. In an interview with the Bankless podcast, O’Leary shared the rules of capital allocation in his portfolio, implying a bullish outlook on Ethereum, one of the cryptocurrencies he holds. Ethereum price drop below $1,070 could push the altcoin to new low Analysts have evaluated the Ethereum price trend and argue that $1,070 is major support for ETH, and a drop below this level could put a lot of pressure on bulls. The altcoin’s price could slide to support at $1,000 in the near term. ETH-USD price chart Ethereum price could enter the three-digit territory FXStreet analysts believe Ethereum price could decline and plummet lower, entering the three-digit territory. For more information, watch this video:
This is how low Bitcoin price can go

This is how low Bitcoin price can go

FXStreet News FXStreet News 14.06.2022 16:37
Bitcoin price got slaughtered, with its most significant decline for 2022.BTC price saw bears pierce through critical support levels and breaking the backbone of any bullish resistance.Expect to see a further drop as the earliest support is sub $20,000.Bitcoin (BTC) price is in a tight spot, and subject to some ferocious moves in markets where every asset class has seen outflows of money. Unfortunately, risk assets like cryptocurrencies and stocks have sold off more than bonds and commodities, with only one victory in the forex market: the US dollar. Apart from some dip-buying, which is not likely to be a match for the current bearish pressures dominating markets, price action is likely to simply run further down as the predominant themes are unlikely to fade anytime soon.Bitcoin’s pain has only just begunBitcoin price fell on Monday after dollar strength continued from where it had left off on Friday. The squeeze could not have come at a worse moment as just when people were starting to forget about the Terra LUNA debacle, a new scandal hit the wires after a crypto broker had to report that a blocked order created a backlog and made it unable for traders to exchange cryptocurrencies for dollars. This sparked mayhem and panic in the asset class, with questions quickly raised about whether another LUNA scenario was unfolding or if a default was at hand. BTC price saw two strong fundamental drivers, therefore, pushing price action to the downside, and broke below $24,000. With the close below the monthly S1, the only possible trade now is a rejection after a retrace back into that S1, and then a drop back to the downside in search of support. The nearest support is $19,036.23, meaning the $20,000 barrier could give way. BTC/USD daily chartOn the other hand, in the event of a rebound and bulls jumping in at the current low levels, a close back above the monthly S1 and $24,000 could quickly open up more room to the upside. That would mean a return back to $28,695.13 and, with that, an erasing of the move from the past weekend. Should the FED and the BOE help soothe markets by changing their tone on inflation and proving they are doing an excellent job in taming it, expect to see a possible return to $30,000 by next week.
Fed June Preview: In the world we live in, a 50 bps hike is a dovish surprise

Fed June Preview: In the world we live in, a 50 bps hike is a dovish surprise

FXStreet News FXStreet News 14.06.2022 16:37
The FOMC is expected to go off-script and hike by 75 bps in June.Markets fully price in another 75 bps rate increase in July.Investors will keep a close eye on FOMC Chairman Jerome Powell's comments on recession risks. The Reuters estimate shows that the US Federal Reserve is expected to hike its policy rate by 50 basis points to the range of 1.25%-1.5% in June. According to the latest market developments, however, such a decision would be seen as a dovish surprise.Following the May inflation report, which revealed that the annual Consumer Price Index (CPI) climbed to a fresh multi-decade high of 8.6%, investors expect the US central bank to do what would be seen as unthinkable a few months ago - raising the policy rate by 75 bps. Goldman Sachs, TD Securities and Nomura are a few of the major financial institutions that announced on Tuesday that they revised their Fed forecasts to include 75 bps hikes in June and July. Reflecting the impact of rising hawkish bets on markets, the 2-year US Treasury bond yield rose nearly 10% on Monday and the benchmark 10-year US T-bond yield gained more than 6%. In turn, the US Dollar Index advanced to its highest level since December 2002 above 105.00. DXY daily chartDovish scenarioAt this point, the initial market reaction to a 50 bps rate hike should trigger a dollar sell-off. In case the Fed opts for a 75 bps hike in June but rules out such action for July, the greenback could find it difficult to preserve its bullish momentum.Another dovish scenario would be for the Fed to commit to two 75 bps rate hikes in the next two meetings and intend to take a break in September to assess the market conditions. FOMC Chairman Jerome Powell’s comments on the economic outlook will also be scrutinized by market participants. In case Powell acknowledges heightened risks of the US economy tipping into recession next year, investors could see that as a sign that the Fed might abandon its aggressive tightening stance.Hawkish scenarioIf the Fed hikes its policy rate by 75 bps in June and confirms another 75 bps hike in July, there could be a ‘buy the rumor sell the fact’ reaction initially. Nevertheless, such a decision should allow the dollar to continue to outperform its rivals in the medium term, especially the euro due to widening policy divergence with the European Central Bank (ECB). In case the policy statement reveals that policymakers discussed a 100 bps rate hike at this meeting or that they are willing to put that option on the table at the next meeting, it wouldn’t be surprising to see US yields and the DXY stretch higher.Finally, if the Fed pledges to raise rates by at least 50 bps from September to bring inflation under control, there would be no reason for markets to start betting against the dollar.
WTI dips but remains well supported near-$120 despite risk-off conditions, China lockdown worries

WTI dips but remains well supported near-$120 despite risk-off conditions, China lockdown worries

FXStreet News FXStreet News 13.06.2022 16:40
WTI is a little lower but still trading near $120, weighed slightly amid risk-off conditions and China lockdown worries. Weak US data, a surprisingly hawkish Fed and tough restrictions in China could combine to send WTI towards its 21DMA. Though still a little lower on the day, oil prices pared the bulk of earlier session losses on Monday, despite steep downside in global risk assets as investors fretted about last Friday’s hotter than expected US inflation and its implications for Fed monetary policymaking, as well as increasing signs that the US economy might be headed for recession. Front-month WTI futures were last trading a few cents in the red in the $120 per barrel area, having bounced from earlier session lows near $118. Traders cited China Covid-19 developments, after Beijing and Shanghai both moved to reimpose restrictions as Covid-19 infections rose once again, as weighing on the price action, as well as the market’s risk-off mode that has seen the US dollar strengthen. A strong buck means USD-denominated commodities are more expensive for international buyers. But the bounce from mid-session lows suggests that appetite to buy the dip remains strong, for now. Indeed, global oil markets are still very tight as demand in the northern hemisphere rises towards its summer peak and OPEC+ supply woes show no signs of abating, with Russian output still languishing in the face of strict Western sanctions and as smaller (mainly African) producers struggle amid a lack of investment and amid instability. Meanwhile, the prospect of a return by the US and Iran to compliance with the 2015 nuclear pact which could set the stage for well over 1 million barrels per day in Iranian exports to return to global markets appeared to have been dealt a death blow last week. Amid a spat with global nuclear watchdog the International Atomic Energy Agency (IAEA), Iran is set to remove nearly all equipment that had been used by the organisation to monitor its nuclear activities. But traders should be aware that amid the risk that 1) the China lockdown worsens, threatening oil demand in the country, 2) further US data this week points to a recession and 3) the Fed on Wednesday delivers a hawkish surprise as inflation continues to surprise to the upside, oil might be in for a rough time. A test of the 21-Day Moving Average in the mid-$115s seems a solid possibility.
Terra's LUNA 2.0 price reveals a triple top pattern that can trigger a brutal crash

Terra's LUNA 2.0 price reveals a triple top pattern that can trigger a brutal crash

FXStreet News FXStreet News 13.06.2022 16:40
Terra price jumped higher in the ASIA PAC session only to fully erase its gains.LUNA price is set to break below the weekend's lows and slip further.With no normalisation in sight, expect current headwinds to be too strong for LUNA price to fight against.Terra (LUNA) price is yet again in trouble as a triple top that formed this morning proved to be another failed attempt by bulls to save the altcoin. With a firm rejection in the ASIA PAC session this morning, bears seized the opportunity to go short and drive price action to the downside. Now a test looks set to take place at the low of June 09 and the $2-marker, seeing LUNA price shed another 30% of its value.LUNA price is no match for market woesTerra price sees bulls packing their bags after what looked to be a promising recovery turned out to be only an illusion. Just like the FYRE festival, a lot looked promising, but as reality kicks in, it is biting big time. Traders are cutting their positions and triggering a sell-off after the rejection in the early ASIA PAC session, which created a triple top and made LUNA price turn the other way.LUNA price is, with this turnaround, set to tank another 30% towards $2.00 and could even drop further if this sentiment continues throughout the week. The penny dropped amongst traders after they realised that one of the biggest central banks in global markets, the ECB, underimpressed massively in its communication to tame inflation. This created a chain reaction that ended in the US dollar rallying aggressively, and its impact rolling through markets and triggering sell-offs in bonds, stocks and cryptocurrencies, with LUNA price already down 20% and thus set to add another 30% of losses on top of that.LUNA/USD daily chartAlternatively, as this is a new trading week, Monday could merely see a continuation of the pressure from last week optimistically turning 180 degrees by this evening when the US session kicks in. A turnaround would see a jump towards $3.53, possibly breaking the triple top, and searching for $4.00 to squeeze bears out of their positions, and in total, constituting a massive 70% gain up for grabs.
Will Terra (LUNA) Price Drop!? Is It Somehow Caused By ECB (European Central Bank)? | FXStreet

Will Terra (LUNA) Price Drop!? Is It Somehow Caused By ECB (European Central Bank)? | FXStreet

FXStreet News FXStreet News 10.06.2022 16:51
Terra price drops massively as external pressures mount on its price action. LUNA price is set to dip towards $2.00 in a rapid correction. Expect a possible complete pairing back towards a few cents as the question remains what to do with stablecoins going forward. Terra (LUNA) price action is on the cusp of making a massive correction after the playing field changed on Thursday after the ECB massively dropped the ball. The repercussions of that central bank miscommunication have triggered a massive move in the dollar that will not only weigh on the LUNA/USD spot price, but will also turn on the screws for Terra to maintain its peg against the dollar. With several headlines on Thursday out of Congress with questions on a regulatory crackdown on stablecoins, the last days of this second version for LUNA look to be counting down. LUNA price last trading days are counting down Terra price could be in for a bit of pain as two significant external factors could cause a massive headwind, or rather even a massive hurricane, for that matter. On Thursday, the ECB dropped the ball by committing to the most minor rate hike in global markets, while other major central banks are committing to longer, more extensive and faster rate hikes to tame inflation. The most significant side effect of this mishap was that the euro tanked massively and, in turn, made the dollar more expensive across the board. LUNA price has not yet repriced its own intrinsic value against that stronger dollar, and then there is still the issue of its peg to the strong dollar, which will force the hand for Terra to buy more assets to support that peg, and which may prove difficult with stocks on the back foot losing value. As more headlines appear regarding regulatory crackdown, LUNA price looks set to cave in on the pressure and is set to fall back to $2.00, a 35% decline. If the dollar strengthens further and makes new lows, expect to see a further drop towards possibly just a few cents as investors turn their back on the stablecoin for good. LUNA/USD 4H-chart A jump to the upside, towards $3.80 or $4.00, on the other hand, could come about if, later this afternoon, the US inflation numbers are a surprise to the downside. That would mean that the FED is excellently taming inflation, and less severe action is needed. That would, in turn, trigger a jump in equities, creating a double supporting tailwind for LUNA price with both the risk-on from equities and the weaker dollar as driving forces. A rally all the way up to $6.00 could be possible, but then markets would need to pump price action up.
US CPI reverses to new four-decade high in May threatening GDP

US CPI reverses to new four-decade high in May threatening GDP

FXStreet News FXStreet News 10.06.2022 16:51
CPI jumps to 8.6% for the year, core CPI to 6.0%, both beating forecasts.Oil, gasoline and food costs add to consumer pain, real wages cut 3%.Equites plunge, Treasury yields and the US dollar rise.A consumer recession crept a bit closer in May as US inflation accelerated to its fastest pace in more than 40 years and real wages declined for the 15th consecutive month. The Consumer Price Index (CPI) reversed its April decline, climbing to 8.6% for the year in May, outstripping the forecast that it would be unchanged from April’s 8.3%. Core inflation, which excludes food and energy prices, rose 6.0%, beating its 5.9% projection, though below April’s 6.2% pace. The monthly gains of 1.0% for overall CPI and 0.6% for core were also higher than their respective 0.7% and 0.5% estimates. CPIFXStreetConsumer purchasing power took another hit in May as real wages, which correct for inflation, dropped 0.6% and are 3.0% lower for the year. Basic expenses for American households, food, shelter and transportation were notably higher. Prices for all forms of energy rose 3.9% in May and are up a remarkable 34.6% for the year. The national average for a gallon of regular gasoline jumped 10.6% from the first week of the month to the last.Shelter costs, which include home and rental prices, climbed 0.6% in May, the largest one month gain in 18 years. Last month's 5.5% annual increase in shelter expenses was the most since February 1991. In probably what is most difficult and most evident to the consumer, food costs jumped 1.2% in May and are 10.1% higher over the last year. The relentless increase in prices and the concomitant contraction of purchasing power, directly threaten the consumer base of the US economy. Sooner or later, and logically sooner is fast approaching, American households will be forced to pull back on discretionary spending as food, energy and shelter costs drain family budgets. With the economy expanding at just 0.9% in the second quarter, according to the Atlanta Fed’s latest estimate, a small drop in consumption could drive GDP into contraction, ensuring a recession in the first half of the year.Markets responded in expected fashion with the Dow shedding almost 600 points in early New York trading, the S&P 500 tumbling 1.94% and the NASDAQ falling 2.32%. Treasury yields continued their two-week ascent. The 10-year note added 6.9% basis points to 3.111%, just below its March 4 top at 3.13% and the 2-year climbed 12.8 points to 2.945%.The dollar was higher in all major pairs, with the USD/JPY holding steady above 134.00 and the EUR/USD falling back below 1.0600.
Renowned technical analyst affirms Bitcoin price is about to rally

Renowned technical analyst affirms Bitcoin price is about to rally

FXStreet News FXStreet News 09.06.2022 16:41
Benjamin Cowen has predicted a Bitcoin price rally, the analyst argues that the asset could rebound to the $40,000 level. Cowen believes the 200-day simple moving average is an effective indicator for predicting a Bitcoin price rally.Analysts evaluated the possibility of Bitcoin price rebounding from the 200-day moving average. Bitcoin price could rebound from its recent slump and make a comeback assuming it does not get rejected at a key level, Benjamin Cowen, a leading analyst with a bullish outlook on Bitcoin price, has said. Bitcoin price could climb to 200-day moving average levelBenjamin Cowen, CEO of Into The Cryptoverse and a leading cryptocurrency analyst recently told his 748,000 YouTube subscribers that Bitcoin price could recover from its recent drop. The analyst has identified the 200-day simple moving average (SMA) as an effective indicator of Bitcoin’s price trend. Cowen argues that when Bitcoin price breaks below its 200-day moving average it doesn’t necessarily mean it will enter a protracted bear trend. Normally there is a relief rally back up to the 200 SMA which it then breaks above and carries on climbing. It is only on those occasions when it retests the SMA and gets rejected that it continues falling. Bitcoin price continues to hold bullish potential, therefore, according to Cowen who expects Bitcoin’s price to return to the level of the SMA at $41,700. He also sees $40,000 as a significant level and critical milestone for Bitcoin. By mid-June 2022, the analyst expects Bitcoin price to make a comeback to the $40,000 level. Soon after it should reach the 200-day moving average which is at about $41,700, but it is falling swiftly. BTC-USD price chartTwo key Bitcoin price levels, 50-week and 200-week moving averagesRekt Capital, a pseudonymous cryptocurrency analyst has identified two key levels for Bitcoin price. The analyst has identified a curious relationship between the 50-week EMA (blue) and 200-week MA (orange). BTC-USD price chartRekt argues that after the BTC price has broken below its 50 WEMA and then retested the EMA but failed to break above it again, it usually marks the beginning of a sell-off down to the 200 WEMA. At that level, however, it eventually finds a floor and begins a new bull run. Historically, this has happened on three previous occasions and this year could be the fourth instance of that phenomenon. In 2015, Bitcoin price was rejected from the 50-week EMA and rebounded from the 200-week moving average. The first attempt to rebound was a solid one, however a macro price reversal followed. The second instance was in 2018-19 when Bitcoin price witnessed a lengthy consolidation period after getting rejected from the 50-week EMA. Bitcoin rebounded and retested the 200-week moving average before starting a new bull run. Similar to previous years, in 2020 Bitcoin price tested the 50-week exponential moving average before lifting off into a bull run. Much like previous years, in 2022 Bitcoin price consolidated below the 50 WEMA and then crashed towards the 200-week moving average. Based on the repetitive or cyclical nature of the Bitcoin price trend, the same pattern could repeat itself and the analyst argues the asset could begin a bull run soon. FXStreet analysts have identified an upcoming price rally in Tron and predicted an explosive breakout in the altcoin.
Alibaba Stock Forecast: BABA confirms rally is on with 14.7% spike

Alibaba Stock Forecast: BABA confirms rally is on with 14.7% spike

FXStreet News FXStreet News 09.06.2022 16:41
BABA shares exploded 14.7% on Wednesday to close at $119.62.Chinese regulators approved the newest video game titles since July 2021.Most Chinese tech ADRs rallied on the news, viewing it as a sign of reduced scrutiny.Alibaba (BABA) stock had its biggest day on Wednesday since March 16. News that Chinese regulators had green-lighted 60 new online games all at once sent the entire Chinese tech sector off to the races. Having been beaten down for the better part of 18 months, BABA shares played catch-up. BABA closed at $119.62 after trading as high as $121.06 in the session. BABA stock has lost 1.7% in Thursday's premarket to trade at $117.63 on news that China's top regulator is refuting reporting from both Reuters and Bloomberg that authorities have been mulling a revival of Ant Group's IPO. Alibaba owns a major stake in Ant Group.Pardon me while I brush my shoulders off. Just Tuesday, when Alibaba stock was trading near $104, I wrote: "Above here is further resistance at $119.60. Both levels will supply likely take profit points for bullish traders." As the King James Bible says, "And it came to pass."Alibaba Stock News: Apparently video game approval is a big dealWhat launched Alibaba stock into the stratosphere was a government regulatory change that barely affects its business. China's National Press & Publication Administration approved 60 online games on Tuesday night, the largest approval of games in nearly a year. The last major approval came in July 2021.The Chinese tech sector, however, took the announcement as more evidence that Beijing's tech crackdown that began in November 2020 is now ending. Just earlier this week the government ended its data security investigation of Didi Global (DIDI) and two other companies.Since beginning with the shelving of Ant Group's IPO at the end of 2020, billions of dollars in market cap value have been wiped out of the Chinese tech sector. The Ant Group issue began due to regulators' unhappiness with Alibaba founder Jack Ma's critical comments but quickly morphed into a sector-wide review of monopolistic practices and consumer data collection practices.In April, Chinese authorities announced a change of stance and said they were even willing to provide support to the homegrown tech industry including economic stimulus measures. These attitudes have changed as covid lockdowns in China dealt a severe broadside to industrial output. Now that lockdowns have ceased, China reported a 16.9% growth in exports YoY in May. The government appears set on fighting forecasts of a coming global recession, and China's central bank recently reduced interest rates in stark contrast to nearly all developed economies.Alibaba Stock Forecast: Consolidation to be followed by run at $128Now that BABA stock has resoundingly broken out of the three-month, iron grip of a symmetrical wedge structure, expect further upside. At the moment, BABA has already dashed through resistance at $110 and greeted resistance at $119.60. The most likely outcome is consolidation between $110 and $119.60 before bulls make another move higher. This is especially likely since Chinese ADRs are now being talked about more commonly by institutional investors who have already crowded into oil stocks and are looking for alpha elsewhere.$110 will likely now provide support for the time being. Bulls will attempt a try later this month at the resistance zone that surrounds $128. This area was hard to penetrate in late March and early April. Above there, the year-to-date high on January 12 of $138.63 serves as the final boss before Alibaba can resolutely put the last 18 months of poor sentiment behind it.BABA daily chart
ECB hawkishness not enough to lift the euro right now

1 EUR To USD: Even A Teaser Of (ECB) European Central Bank's Tightening May Help EUR/USD | FXStreet

FXStreet News FXStreet News 08.06.2022 16:31
The ECB is likely to keep key rates unchanged while hinting at a July lift-off. Details on the pace of the rate increases will rock the euro. The ECB is set to confirm an end of its QE program in Q3, economic projections closely eyed. The European Central Bank’s (ECB) June 9 monetary policy decision is likely to be a highly significant one, as the central bank is seen signaling its first-rate hike in over a decade. Increasing signs of inflation broadening out in the old continent have compelled the ECB to prepare for a lift-off sooner than previously expected. ECB rate hike forecasts hold the key The ECB is unanimously expected to hold its benchmark deposit rate at -0.50% when it meets this Thursday to decide on its monetary policy. Although the central bank could announce an end of its regular asset purchase programme (APP) on July 1. Despite being the laggards of the central banks to embark on the tightening cycle, ECB President Christine Lagarde has well telegraphed the upcoming rate hike track. A clear signal for a July lift-off will be on the table, which will likely move the current deposit rate for the first time since 2014. It will be the first increase in the rates since 2011. The specifics on the pace of the central bank’s tightening path, combined with the central bank’s growth and inflation forecasts will be closely examined. Last week's Eurozone inflation print hit a new all-time high at 8.1% YoY in May and core CPI accelerated 3.8% on an annualized basis. As inflationary pressures broaden, markets will be more inclined to know if Lagarde and Company debated a 50 basis points (bps) rate hike for July or a smaller 25 bps hike, leaving room for rapid or double-dose rate hikes in the coming months. Heading into the ECB decision, money markets are pricing in over 130 bps hikes by year-end, with a 50 bps move at a single meeting fully priced in by October. Meanwhile, the central bank’s economic projections will be watched out for, given that a July rate hike is already baked in. Amidst looming recession risks, in the face of higher energy costs and supply chain crisis, a downgrade to the euro area growth estimates will not go down well with the EUR market should the ECB up its inflation forecasts. Trading EUR/USD with the ECB Risks remain skewed to the downside for EUR/USD in the run-up to the ECB showdown, as the main currency pair has confirmed a rising wedge breakdown on the daily chart on Wednesday. EUR/USD: Daily chart Meanwhile, the US dollar keeps the upper hand amid the renewed upside in the Treasury yields ahead of Friday’s inflation data. Against this backdrop, EUR/USD could fall towards 1.0600 on the ‘sell the fact, buy the rumor’ trading should the ECB confirm the much-priced July rate hike. Any hints on a probable double-dose lift-off could briefly power EUR bulls, which could be offset by any cautious remarks from the ECB Chief or by the growth forecast downgrade. The upside in the major is likely to remain capped at around 1.0750. In case of a major hawkish surprise, hinting at aggressive ECB tightening, the previous week’s high near 1.0800 could be tested.
We May Say (XAUUSD) Gold Price Is Its Best, But Fed, ECB And US CPI May Hold It Back | FXStreet

We May Say (XAUUSD) Gold Price Is Its Best, But Fed, ECB And US CPI May Hold It Back | FXStreet

FXStreet News FXStreet News 08.06.2022 16:31
Gold Price reversed an intraday dip to the $1,845 area amid the prevalent cautious mood. Expectations for more aggressive central banks and a stronger USD should cap the upside. The market focus remains glued to the ECB meeting on Thursday and the US CPI on Friday. Gold Price struggled to capitalize on the previous day's goodish bounce from the $1,837 area - levels just below the very important 200-day SMA - and edged lower on Wednesday. The early downtick, however, was bought into near the $1,845 region amid the prevalent cautious mood, which tends to benefit the traditional safe-haven precious metal. The XAUUSD was last seen trading just above the $1,850 level, nearly unchanged for the day heading into the North American session. Gold Price benefits from worsening global economic outlook The market sentiment remains fragile amid concerns that a more aggressive move by major central banks to constrain inflation could pose challenges to global economic growth. Adding to this, the World Bank slashed its 2022 global growth forecast on Tuesday to 2.9% and tempered investors' appetite for perceived riskier assets. This was evident from a generally weaker tone around the equity markets, which could drive some haven flow towards the XAUUSD. Despite the supporting factors, any meaningful upside still seems elusive, warranting caution before placing aggressive bullish bets.   Rate hike bets, stronger US dollar to cap Gold Price Investors remain concerned that the global supply chain disruption caused by the Russia-Ukraine war could push consumer prices even higher. This might force the Federal Reserve to tighten its monetary policy at a faster pace, which, in turn, could trigger a fresh leg up in the US Treasury bond yields. In fact, the yield on the benchmark 10-year US government bond has shot back above the 3.0% threshold and helped revive the USD demand. The European Central Bank (ECB) is also expected to join its global peers and hike interest rates to tamp down inflation. This might further contribute to capping the non-yielding yellow metal ahead of the key ECB monetary policy meeting on Thursday and the US consumer inflation figures on Friday. Previewing the upcoming US Consumer Price Index (CPI) data, "there are signs of easing price pressures," FXStreet Analyst Yohay Elam said. "Most importantly, wages advanced by only 0.3% in both April and May, a total of 0.6%, while expectations imply an accumulated gain of 1.1% in Core CPI. Such a mismatch cannot be ruled out, but seems unlikely." In case inflation figures come in softer than expected, investors could see that as a development that could allow the Fed to pause rate hikes in September. In that scenario, US T-bond yields could retreat and help gold gain traction. Gold Price technical outlook Gold Price, so far, has managed to defend a technically significant 200-day SMA support, which is currently pegged near the $1,842-$1,841 region. This area should now act as a pivotal point, which if broken decisively could drag the XAUUSD towards the $1,830 intermediate support en-route to the $1,810-$1,808 area and the $1,800 round-figure mark. On the flip side, momentum beyond the $1,857-$1,857 region is likely to confront resistance near the $1,870 supply zone. Sustained strength beyond would negate any near-term bearish bias and lift the XAUUSD to the next relevant hurdle near the $1,885-$1,886 area. The momentum could further get extended and allow bulls to aim back to reclaim the $1,900 mark for the first time since early May.
Three reasons why investors remain bullish on Shiba Inu price

Three reasons why investors remain bullish on Shiba Inu price

FXStreet News FXStreet News 07.06.2022 16:37
Ethereum whale addresses hold over $500 million in Shiba Inu, and continue to hold the Dogecoin-killer despite the recent price slump. 228.1 million Shiba Inu tokens have been burned overnight, pushing the burn rate over 100% higher. Analysts identify descending triangle patterns in Shiba Inu coin, believe a trend reversal is possible in a potential upper border breakout.Shiba Inu has become one of the most widely held cryptocurrencies in the portfolios of large Ethereum whales. Analysts continue to remain bullish on the meme coin despite the recent slump in Shiba Inu price. Bitstamp, Europe’s largest crypto exchange listed Shiba Inu Bitstamp, a Luxembourg-based cryptocurrency exchange, considered the largest in Europe, recently announced the listing of Shiba Inu coin. Bitstamp users can now trad the Dogecoin-killer coin against USD and the euro on the exchange platform. The exchange proposed listing Shiba Inu in December 2021, however, following technical issues, it was postponed. Bitstamp believes in Shiba Inu’s success story and has offered the meme coin on its interface, transfers started on June 6 and order books are available in limit-only mode starting today, June 7. Limit orders in Shiba Inu are being matched the same day. The exchange plans to offer full trading in Shiba Inu as soon as there is a sufficient level of liquidity in the meme token. The listing is a key milestone for Shiba Inu, as Bitstamp is popular in the crypto community as an exchange with a conservative listing policy and strict regulatory compliance. Shiba Inu coin listing details on BitstampLeash lock rewards update for Shiba Inu coinWith the latest Bitstamp listing, ShibArmy, the community of Shiba Inu coin holders, has more than one reason to be bullish. The team behind Shiba Inu provided the community a quick update on the reward distribution for using the LEASH LOCKER feature in SHIB’s metaverse platform Shib.io. Despite the recent disappearance of Ryoshi, the founder of Shiba Inu, the project continues to publish updates for SHIB holders. Shytoshi Kusama, the lead project manager, has taken charge of the development team and Shiba Inu projects like ShibaSwap, the native decentralized exchange. Shibarmy members who locked LEASH for a small time frame can now unlock their assets and claim rewards. The recent update explains that rewards holders will receive 3% of the funds from Land Event Sales in the metaverse, in exchange for their locked LEASH tokens. Depending on the total LEASH and time locked, distribution will be proportional and rewards will be offered in BONE. While the developers behind Shiba Inu expected to sell all land in the metaverse before distributing rewards, they acknowledged that there are plots currently available for purchase. To cut the wait for rewards short, the team has constructed a new contract to pursue the distribution of 3% BONE to participants who locked their LEASH during the first early access events. The updated contract offers BONE rewards without waiting for the metaverse Shib.io land plots to sell out. Once locking rewards come to an end for all users, they will be made available after a 90-day waiting period. This has been implemented to be fair to all investors who locked their LEASH, the Doge-killer token. The team informed that this is a one-time reward distribution mechanism and will take into account sales up to July 2. To be considered for receiving rewards, a holder needs to have locked LEASH, bid at least once on a land plot or minted land(s) per wallet. 228.1 million Shiba Inu coins burned overnightThe Shiba Inu burn rate increased by 113% overnight as 228.10 million SHIB were burned. Based on data from the Shibburn portal, 410.36 trillion Shiba Inu coins have been destroyed till date.Multiple projects that support Shiba Inu came forward to destroy a total of 1.1 billion SHIB, sending it to dead wallets where the meme coin is locked permanently. This occurred in a total of 97 transactions over the weekend. Burn implementation has turned ShibArmy bullish as the quantity of the token in circulation reduces drastically. In addition to the recent Bitstamp listing and Leash rewards update, this has acted as a key catalyst for Shiba Inu coin price. Ethereum whales continue Shiba Inu accumulationBased on data from blockchain explorers, the 100 largest Ethereum whale addresses have continued their accumulation of Shiba Inu coin. The 100 largest wallet addresses on the Ethereum blockchain hold a combined $500 million in Shiba Inu and refrained from shedding their holdings through the recent price slump. The Terra LUNA crash wiped out billions in market value from the crypto ecosystem and resulted in a bloodbath that hit meme coins like Dogecoi and Shiba Inu. Drop in Shiba Inu price failed to deter the whales from adding this meme coin to their portfolio and maintaining SHIB as one of the largest non-Ethereum holdings in their wallet. Shiba Inu price could witness trend reversal soonCryptocurrency analyst Arman Shriniyan believes Shiba Inu price could see a trend reversal soon. The analyst observed a descending triangle formation in the Shiba Inu coin chart. This is considered a bearish sign, however, Shiba Inu price could witness a trend reversal if price breaks through the upper border of the pattern. The analyst has predicted a breakout in Shiba Inu price within the next 10-12 days. SHIB-USDT price chartFXStreet analysts believe Shiba Inu price could validate the bearish outlook if the meme coin plummets 26%. A downswing could confirm a bearish trend in Shiba Inu price. 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Alibaba Stock Forecast: BABA closes in on $100 psychological level

Alibaba Stock Forecast: BABA closes in on $100 psychological level

FXStreet News FXStreet News 07.06.2022 16:37
Alibaba benefits from renewed confidence in China stocks.BABA stock rose 6.2% on Monday but lost $100 footing.Chinese regulators have closed their investigation into Didi Global.Alibaba (BABA) stock had many admirers on Monday to start the week. Shares of China's largest e-commerce provider charged ahead by 6.2% after news emerged during the Hong Kong session that Chinese regulators were ending their high-profile investigation of Didi Global.Though Alibaba's planned IPO of former subsidiary Ant Global is what initially launched the great Chinese ADR sell-off in late 2020, Didi Global became the poster child of a tempestuous Chinese regulatory hierarchy after state officers began a combative probe into Didi's data collection practices just days after the company listed for the first time in the US. Didi quickly descended from its $14 IPO price to trade below $2 when it announced in May that it would comply with state direction and delist its US shares.Didi, along with two other Chinese companies listed in the US, is expected to face a major fine and must hand the state 1% ownership. The end of the investigation, however, seemingly also brings to an end the 18-month tech crackdown that has cost Chinese investors at least $1 trillion in share value. Though BABA shares traded as high as $102.42 on Monday, they could not maintain their perch atop the ever-important $100 psychological level and instead closed at $99.01. In Tuesday's premarket, BABA stock is once again advancing – at the time of writing it is up 1.4% at $100.37. $100 has acted as both resistance and support in the past six months, and yesterday was no different. Alibaba Stock Forecast: First target is $110BABA stock price has been trading within a symmetrical wedge structure (blue) since March 15. Before that the top line of the formation began back on November 18, 2021, and until February 24 strong support was found at $110. Alibaba stock attempted to break through the $100 barrier in late April and early May but gave up after four sessions. Now the top line of the wedge sits at $101. This will make the area even more difficult to power through. If BABA shares can close above the April 29 high of $103.51, then this will signal a new bear rally. The first bull target is $110, as mentioned previously. This level acted as first support, and then resistance, from December 2021 through this April consistently.Above here is further resistance at $119.60. Both levels will supply likely take profit points for bullish traders. Support should sit somewhere between $83 and $84 on the ascending bottom line of the wedge.BABA daily chart
Tech Stocks: (AMZN) Amazon Stock Price: How 20-1 Split Is Going To Change This Price? | FXStreet

Tech Stocks: (AMZN) Amazon Stock Price: How 20-1 Split Is Going To Change This Price? | FXStreet

FXStreet News FXStreet News 06.06.2022 16:01
On Monday Amazon will give investors 20 shares for every one they owned on Friday, June 3. The new split-adjusted shares are trading at $123.33 in Monday's premarket. Typically, share splits cause a rally in price action.   Amazon (AMZN) is set to trade in the low $120s for the first time since 2010. That is because the king of ecommerce, starting Monday, June 6, will begin trading at its new price based on a 20-for-1 share split. After closing up at $2,447 on Friday, AMZN stock is already exchanging hands at $123.33, which is about 0.8% higher than Friday's split-adjusted closing price of $122.35. Data from Bank of America states that on average S&P 500 companies that have share splits gain 25% over the following 12 months as their share prices become more attractive to retail buyers scared about high share prices. Amazon Stock News: Anti-trust bill worries big tech Besides the impending stock split, an impending bill being discussed in US congress has most of big tech up in arms. The American Innovation & Choice Online Act (AICOA) would stop big tech from "self-preferencing." This means that Amazon could not use its dominance in ecommerce, persay, to push third-party sellers to use Amazon Web Services for their separate web hosting needs. Google could not use its search engine to favour its own Gmail service ahead of other email providers. Amazon and Google parent Alphabet are the two biggest opponents to the bill, but observers say it also specifically targets business strategies used by Apple (AAPL) and Facebook parent Meta Platforms (FB). The bill was spearheaded by Senator Amy Klobuchar (D-Minnseota) and House Representative David Cicilline (D-RI) but is said to have ample Republican support as well. A story in The Financial Times on Monday claims that Congressional offices are being bombarded by lobbyists for Silicon Valley's largest corporations. Yelp is an outlier and believes AICOA would make the tech landscape more competitive for smaller entrants. FT quoted Yelp's Senior Vice-President of Public Policy Luther Lowe as saying, “The internet giants are in Yolo [you only live once] mode — they are desperate and are doing whatever they can to change the trajectory." Zoe Lofgren (D-CA) has come out against the bill as well, saying it targets certain big tech platforms implicitly, which is against prior precedent. Amazon Stock Forecast: Daily and weekly charts in disagreement Amazon's daily chart is showing optimistic signs for short-term gains. The 9-day moving average has overtaken the 21-day moving average on Friday. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator has been turning higher with the MACD line crossing above the signal line. If these two lines reach the zero bound, then it becomes an even better signal of continued advancing price. $126 is the target for bulls at the moment, but $146 will come into view if retail investors decide to get in on the excitement. The new support lines come from a consolidation area between April and June of 2020, as seen on the weekly chart below. Current price action near $122.50 is at the top of the consolidation zone, and Amazon stock might have support there. The bottom of the zone, at $112.95, should provide support as well. Falling support could also lead price action to drop to $101.95 in the event that inflation grows worse or prophecies of a recession are made real over the next several months. Notice how the MACD on the weekly chart remains bearish, unlike the daily.
Memecoins: Holding DOGE? How Can It Affect Dogecoin Price (DOGE/USD) | FXStreet

Memecoins: Holding DOGE? How Can It Affect Dogecoin Price (DOGE/USD) | FXStreet

FXStreet News FXStreet News 06.06.2022 16:00
Dogecoin price is struggling to break out but shows a decent probability of a bullish move. Investors should expect a volatile 18% move as on-chain metrics also suggest the same. A four-hour candlestick close below $0.076 will invalidate the bullish thesis. Dogecoin price continues to coil up, hinting that a volatile move is on its way soon. Adding evidence from on-chain metrics leans the scales favoring bulls. Dogecoin price and bullish narratives Dogecoin price shows a descending triangle formation by connecting the four lower highs and three equal lows formed since May 12 using trend lines. This technical formation forecasts an 18% move obtained by adding the distance between the first swing high and the swing low to the breakout point. While a descending triangle has a bearish bias, the recent recovery actually suggests a potential for bullish recovery. Adding credence to this outlook is that price has flipped the $0.082 resistance barrier into a support floor. Investors need to wait for a decisive four-hour candlestick close above $0.087 to confirm a bullish breakout. Once this development occurs, the theoretical target lies at $0.100, obtained by measuring the distance between the first swing high and swing low to the breakout point at $0.087. Despite a bullish breakout, DOGE needs to overcome the $0.093 hurdle to reach its theoretical target. In some cases, this move could extend to $0.101. Supporting this bullish outlook for Dogecoin price is the increase in the number of addresses holding DOGE for more than a year. The count of these market participants has increased from 1.74 million on May 8 to 2.49M as of June 5. This 43% spike in long-term investors indicates that these buyers are confident in the bullish performance of the Dogecoin price. Regardless of the bullish technicals and on-chain metrics, a correction or sell-off in Bitcoin price could stop or hinder bulls’ plans dead in their tracks. Investors need to be cautious about a sudden reversal in Dogecoin price that produces a four-hour candlestick close below $0.076. Such a move would constitute a bearish breakout from the descending triangle and invalidate the bullish thesis. In such a case, the theoretical forecasts reveal an 18% crash to the $0.062 support floor.  
(PLTR) Palantir Stock Price: On Thursday It Lost Almost 10%! As Q1 Earnings Disappointed, PLTR Fell Ca. 17% In May | FXStreet

(PLTR) Palantir Stock Price: On Thursday It Lost Almost 10%! As Q1 Earnings Disappointed, PLTR Fell Ca. 17% In May | FXStreet

FXStreet News FXStreet News 03.06.2022 16:33
PLTR stock ended Thursday up 9.9% at $9.30. Palantir stock fell almost 17% in May due to dismal Q1 results. A recent contract with US Space Systems Command adds $54 million in revenue. Palantir (PLTR) stock experienced a welcome reprieve from May's glum share price descent on Thursday with the big data company's share price closing up 9.9% at $9.30. The rally appeared on account of Palantir securing a follow-on contract with the US Space Systems Command (SSC) worth $53.9 million. Shares have retreated 1.3% in Friday's premarket to $9.18. Palantir Stock News: US government contracts just keep on coming Investors on Thursday decided to put May's disgraceful 16.5% slide behind them as Palantir announced a nine-month continuation contract with the SSC's Battle Management Command, Control and Communications division (BMC3) agreeing to continue last year's $121.5 million contract through March 2023. The nine-month contract for nearly $54 million demonstrates how much big US government agencies are interested in continuing their expensive contractual relationships with Palantir. This constant barrage of government contracts is placing Palantir in league with the largest US defense contractors. Palantir said the contract extension "ensures the continuous delivery of Palantir’s data and decisions platform to support national security objectives." The company provides institutions with a wide variety of data systems in specialized and personalized software as a service (SaaS) platform. The current contract will aid "mission areas within the Air Force, Space Force, and NORAD-NORTHCOM to integrate, clean, share, and leverage data to help make decisions on personnel management, strategic and operational planning, cross-space situational awareness, and collaboration across combatant commands", according to a statement from management. Palantir stock market spike was helped by a continuation of the current bear market rally that saw all three major indices move substantially higher. Palantir Stock Forecast: $10 is the price to beat Palantir stock bulls must be quite excited with the near 10% move on Thursday, but resistance at $10 looms ever closer. PLTR stock has been in a parallel descending price channel since October of 2021. Breaking through $10 on the daily chart below would upend that seven-month tyranny and give bulls a shot at an extended rally. Breaking through the target would give longs a shot at the $14.85 high from April 5. A sign that this may be in the cards is that the 9-day moving average just caught up with the 21-day moving average on Thursday. Where the two moving averages crossed – $8.36 – might now provide some support. If not, then PLTR could sell off to the May 12 low at $6.45 in the event of a broad market downturn. With Jamie Dimon and some other influential bankers and CEOs predicting a bad turn in the second half of the year, this remains a real possibility. PLTR stock still deserves a buy, however, for the moment if it breaks the $10 resistance level. PLTR daily chart
LUNA 2.0 price recovers as Do Kwon may not go to prison

LUNA 2.0 price recovers as Do Kwon may not go to prison

FXStreet News FXStreet News 03.06.2022 16:33
LUNA 2.0 price has made a comeback from its recent slump and started a recovery overnight. Do Kwon could face civil penalties, fines from regulators and lawsuits, instead of prison time. Analysts identify rising channel formation in LUNA 2.0 price chart, predict a continuation of Terra’s uptrend. LUNA 2.0 price started its recovery after the bloodbath as Korean authorities revealed prison time may be unlikely for Do Kwon. The Terraform Labs CEO could instead be hit by fines and penalties from regulators and lawsuits from investors, on account of the colossal UST and LUNC (previously LUNA) crash. LUNA 2.0 price initiates recovery LUNA 2.0 price has bounced back, posting over 3% gains overnight. Since its debut on May 28, LUNA price witnessed wild swings across exchange platforms Kraken, OKX and Binance. Despite the volatility in LUNA 2.0 price, the new Terra token has started its recovery. The volatility in Terra’s new token and the lack of liquidity were the two key factors driving LUNA price lower. However, LUNA 2.0 is on track to recover. @FatManTerra, a whistleblower from the Terra community forum recently told his 62,600 followers,Feel free to make money on LUNA 2 - I have a bunch of LUNA 2 - I'm not stopping you - all I'm doing is posting information about the Terra project that I believe the public (and investigators) deserve to know.The whistleblower holds the new Terra token and believes in LUNA 2.0, while raising questions and concerns on the colossal crash of TerraUSD (UST) and LUNC (previously LUNA). Do Kwon may not face jail time, hit by penaltiesThe Terra community demanded prison time for Do Kwon, after UST’s de-peg and the crash of sister tokens LUNA and TerraUSD. Discord and Reddit forums were filled with outrage from LUNC and UST holders asking for justice and jail time for Do Kwon. South Korean authorities have continued their investigation into Do Kwon’s activities. The 30-year-old South Korean was the founder of the algorithmic stablecoin project that imploded and wiped out nearly $40 billion in market value. In the United States, Federal prosecutors and ex-senior counsel for the Securities & Exchange Commission told CNBC that it may be challenging to press criminal charges on Do Kwon. Proving intent to defraud is a challenge, however, Do Kwon is likely to face civil penalties, fines from regulators and authorities and lawsuits from investors. The collapse of UST was Kwon’s second failed attempt at launching an algorithmic stablecoin, his first attempt resulted in losses in the range of tens of millions of dollars, in Basis Cash. Do Kwon could be hit by penalties like injunctions, disgorgement (returning gains), or fines based on the amount of the loss. This could imply Kwon pays fines in tens of billions of dollars that were wiped out in the de-peg and the market crash that followed. Kwon has a complicated history with the US SEC as the Terraform Labs CEO has dodged a few subpoenas and filed a motion opposing the regulatory body.Binance, Kraken, FTX supported LUNA 2.0, Terra revival planWhile experts argue that success of LUNA 2.0 means there is a chance for institutional and retail investors to recoup their losses, there was no backstop from the Federal Deposit Insurance Corporation (FDIC). The only chance at redemption for holders of LUNC and UST is LUNA 2.0 airdrop. Lightspeed Venture Partners, Coinbase Ventures, Three Arrows Capital and Jump Crypto, the major backers of Terraform Labs, bought into LUNA 2.0. Changpeng Zhao (CZ), CEO of the world’s largest cryptocurrency exchange and Jesse Powell, CEO of Kraken have also put their weight behind LUNA 2.0. Jump Crypto finally completed the ongoing investigation in the UST de-peg and revealed insights of the crash. Retail investors were left holding massive bags of UST while large depositors and Terraform Labs withdrew liquidity from the UST/3CRV pool on May 7. Positions of Anchor Depositors from 5/6 to 5/9Quinten Francois, a crypto investor and advisor, turned to Twitter to ask his 78,500 followers if Terra has a chance of regaining trust and becoming a success after LUNA 2.0 crossed nearly $7 billion in fully diluted valuation. Nearly 69% respondents believe it is unlikely for Terra to regain trust in the crypto community with LUNA 2.0. LUNA 2.0 poll Analysts predict uptrend in LUNA 2.0 priceCryptocurrency analysts at PUMPMaps have evaluated the LUNA 2.0 price trend and noted that the token has broken the triangle up. LUNA 2.0 price is forming a rising channel. Terra price may correct from the upper border of the channel, it is likely to continue its uptrend.LUNA/USDT chartAkash Girimath, leading cryptocurrency analyst at FXStreet, believes it is a good bet to buy LUNA 2.0 token after its airdrop. For more information on LUNA 2.0 bullish potential watch this video:
Blockchain Bridge - What Is It?

Altcoins: Terra's Luna 2.0 Price - Confusion Around LUNA's Successor May Affect Price Of This Crypto | FXStreet

FXStreet News FXStreet News 02.06.2022 16:53
LUNA 2.0 price plummets as skepticism increases, raises concerns of a crash similar to LUNA (now LUNA Classic) fiasco. The controversial Terra token not offered for trading across Korean exchanges, but some investors are still bullish on LUNA 2.0. LUNA 2.0 price posted 9% losses, analysts have a bearish outlook on the Terra token. Despite LUNA 2.0 price drop, some investors in the crypto community remain bullish on Terra’s new token. Other experts raised concerns about a potential colossal crash of LUNA 2.0, similar to what happened with the LUNA Classic and UST. LUNA 2.0 price nosedives, witnesses massive volatility LUNA 2.0 price dropped 9% overnight, and Terra’s new token continues to witness extreme volatility. There is growing skepticism over LUNA 2.0’s sustainability as investors expect a similar outcome as LUNA Classic (previously known as LUNA) and TerraUSD (UST) crash. The rising volatility in LUNA 2.0 has rekindled concerns among analysts and investors. Korean cryptocurrency exchanges have not offered any trading services supporting Terra’s new token, LUNA 2.0 in response to these concerns. A Seoul-based economist said, Financial authorities cannot protect investors in the cryptocurrency industry, as there are no regulations or laws to do so. It is more like gambling that comes with an inherent risk. LUNA 2.0 token can be traded on major overseas exchanges like Binance, OKX, Kraken, Bybit. Cryptocurrency exchanges support LUNA 2.0 listing Jesse Powell, CEO of Kraken, defended LUNA 2.0 listing citing client demand. Powell revealed that switching cost for users is low and people tend to want all cryptocurrencies on one platform for their capital efficiency, synergies and convenience. Powell believes withdrawing support for one cryptocurrency could cost the exchange an entire account. Powell further emphasized that listing a cryptocurrency does not mean the exchange endorses it. Binance CEO Changpeng Zhao (CZ) recently voiced skepticism around the relaunch of the Terra blockchain and LUNA 2.0. Nevertheless, Binance is actively supporting Terra’s airdrop and Do Kwon’s revival plan, and LUNA 2.0 is listed for trade on the exchange’s platform. South Korean authorities investigate Do Kwon and Terraform Labs Despite the launch of Terra’s LUNA 2.0, South Korean authorities have continued an investigation into Terraform Labs, and CEO Do Kwon. Authorities are investigating potential price manipulation across multiple cryptocurrency exchange platforms and the listing process of LUNA. Former Terra employees reveal Do Kwon was behind the failed stablecoin project Basis Cash. The algorithmic stablecoin was launched in 2020 and quickly flamed out, plummeting from $1 to $0.30 in January 2021. Despite LUNA 2.0 price volatility, experts are bullish @DarkCryptoLord, a leading cryptocurrency analyst and trader, believes LUNA 2.0 price offers a profit making opportunity. The analyst believes the setup is ideal for a quick trade. @MartiniGuyYT, crypto YouTuber and founder of Crypto Saving Expert, told his 133,000 subscribers that he bought a small bag of LUNA 2.0 token to “play the game” and the analyst is keen on making scalp trades with the ongoing price swings. Akash Girimath, crypto analyst at FXStreet, believes it is a good bet to buy LUNA 2.0 token after the airdrop. Despite the price volatility and wild swings, the analyst has identified a bullish setup in the LUNA 2.0 chart. For more information, watch this video:
What Kind Of Print Of NFP Would Be Better For Gold Price (XAU/USD)? | FXStreet

What Kind Of Print Of NFP Would Be Better For Gold Price (XAU/USD)? | FXStreet

FXStreet News FXStreet News 02.06.2022 16:53
Nonfarm Payrolls in US is forecast to increase by 325,000 in May. Gold is likely to react more significantly to a disappointing jobs report than an upbeat one. Gold's movement has no apparent connection with NFP deviation four hours after the release. Historically, how impactful has the US jobs report been on gold’s valuation? In this article, we present results from a study in which we analyzed the XAU/USD pair's reaction to the previous 22 NFP prints*. We present our findings as the US Bureau of Labor Statistics (BLS) gets ready to release the May jobs report on Friday, June 3. Expectations are for a 325,000 rise in Nonfarm Payrolls following the 428,000 increase in April. *We omitted the NFP data for March 2021, which was published on the first Friday of April, due to lack of volatility amid Easter Friday. Methodology We plotted gold price’s reaction to the NFP release at 15 minutes, one hour and four hours intervals after the release. Then we compared the gold price reaction to the deviation between the actual NFP release result and the expected result. We used the FXStreet Economic Calendar for data on deviation as it assigns a deviation point to each macroeconomic data release to show how big the divergence was between the actual print and the market consensus. For instance, the August (2021) NFP data missed the market expectation of 750,000 by a wide margin and the deviation was -1.49. On the other hand, February’s (2021) NFP print of 536,000 against the market expectation of 182,000 was a positive surprise with the deviation posting 1.76 for that particular release. A better-than-expected NFP print is seen as a USD-positive development and vice versa. Finally, we calculated the correlation coefficient (r) to figure out at which time frame gold had the strongest correlation with an NFP surprise. When r approaches -1, it suggests there is a significant negative correlation, while a significant positive correlation is identified when r moves toward 1. Since gold is defined as XAU/USD, an upbeat NFP reading should cause it to edge lower and point to a negative correlation. Results There were 12 negative and 10 positive NFP surprises in the previous 22 releases, excluding data for March 2021. On average, the deviation was -0.86 on disappointing prints and 0.6 on strong figures. 15 minutes after the release, gold moved up by $3.97 on average if the NFP reading fell short of market consensus. On the flip side, gold declined by $1.44 on average on positive surprises. This finding suggests that investors’ immediate reaction is likely to be more significant to a disappointing print. However, the correlation coefficients we calculated for the different time frames mentioned above don’t even come close to being significant. The strongest negative correlation is seen 15 minutes after the releases with the r standing at -0.48. One hour after the release, the correlation weakens with the r rising to -0.31 and there is virtually no correlation to speak of four hours after the release with the r approaching 0. Several factors could be coming into play to weaken gold’s correlation with NFP surprises. A few hours after the NFP release on Friday, investors could look to book their profits toward the London fix, causing gold to reverse its direction after the initial reaction. Additionally, FOMC policymakers made it clear that they will remain focused on taming inflation and that they are not concerned about the labour market, possibly causing the market reaction to the headline NFP to remain short-lived.
US ADP Employment Change May Preview: The labor market recedes from center stage

US ADP Employment Change May Preview: The labor market recedes from center stage

FXStreet News FXStreet News 01.06.2022 16:40
Job growth is predicted to be 300,000 up from 247,000 in April.Fourth quarter ADP average was 582,000, first was 530,000.NFP forecast for 320,000 in May, down from 428,000.Market sensitivity to the labor market has retreated.American job growth is expected to have continued its shift lower in the second quarter despite a record number of unfilled positions and even as market concerns have deserted employment for inflation. Private payrolls from Automatic Data Processing (ADP), the world’s largest paycheck service provider, are forecast to rise to 300,000 in May following 247,000 new hires in April. The ADP figure will be released on Thursday, one day later than usual due to Monday’s Memorial Day holiday in the US. Coming as it does right before Washington’s Employment Situation Report, commonly called Nonfarm Payrolls, or just payrolls for its central statistics, the ADP report has long been looked to for clues to the national job numbers even though the monthly directional correlation is relatively weak. In the last year, the ADP and NFP have moved in tandem seven times and in opposition five times. For May ADP is forecast to rise and NFP is expected to fall. Labor marketThe most salient fact of the US job market is the historic number of unfilled positions, a surplus of work, and scarcity of employees that has lasted for more than a year. The Job Openings and Labor Turnover Survey (JOLTS), from the Bureau of Labor Statistics (BLS), has been above the prior all-time record of 7.574 million in November 2018 for 13 months. Since October, US employers have been looking for an average of 11.245 million workers each month. For the last year, the economy has averaged 42% more openings than at any previous time in its history.JOLTSFXStreetThe difficulty in finding workers has been cited by purchasing managers as the main factor behind the decline in the employment indexes. The manufacturing index has fallen from 54.5 in January to 50.9 in April. While the services index has dropped from 57.0 in November to 49.5 in April, the second month of contraction in the last six. Lack of opportunity is not what ails the American economy. Inflation and the economic outlookThe explosion in US inflation has become the dominating condition of the US economy and the chief rationale of Federal Reserve policy. After ignoring the burgeoning price increases for nearly a year, the Fed reversed course and is expected to hike the fed funds rate 300 basis points or more this year. CPIFXStreetMarkets will not know if the US economy is in a technical recession until the end of July when second quarter GDP is reported. The data will come just after the Fed enacts its third 0.5% rate increase in a row on July 27. One reason for the sudden Fed alacrity is that a recession could halt its rate program. How will the governors justify rate increases in a contracting economy? It is not a question Fed Chair Jerome Powell has addressed. The key to US growth is consumer spending, the well-known 70% base of economic activity. Though Retail Sales and Personal Spending, the two chief measures of consumption, have remained relatively strong, they are uncorrected for price increases. Real personal spending, adjusted for inflation, from the Bureau of Labor Statistics (BLS) tells a very different story. It has been flat for the past four months. Consumers have maintained their spending even as purchasing power has been declining for more than a year, by drawing on their financial resources. The US saving rate fell to 4.4% in April, the lowest since 2008, according to a Commerce Department report on Tuesday.How long will American families mortgage their future to maintain their immediate spending is unknown. An assumption with rising probability is that after losing to inflation for more than a year, and with the cost of necessities increasing much faster than overall inflation, American families are nearing their breaking point. That decision to economize will not be forced by unemployment but by unchecked inflation. Market responseUnemployment in the US is 3.6%, just one-tenth of a point from its all-time record. The problem for employers and the economy is not the unemployment rate but the labor participation rate. People have not returned to the standard labor market in anything like the numbers needed to fill the vast number of outstanding jobs. The prospective slowdown in ADP and perhaps NFP in May will be seen by traders as a product of labor scarcity rather than a weakening economy. Market reaction will be limited or nonexistent to the ADP numbers, partially due to their poor correlation to NFP and partially to the diminution of labor concerns, supplanted by inflation.
What's Up (GGPI) Gores Guggenheim Stock? What Does GGPI Have To Do With Volvo And Polestar? | FXStreet

What's Up (GGPI) Gores Guggenheim Stock? What Does GGPI Have To Do With Volvo And Polestar? | FXStreet

FXStreet News FXStreet News 01.06.2022 16:40
GGPI stock is still flat around the $10 cash level. SPAC stocks hold $10 in cash to return in the event of a failed deal. GGPI is due to take EV maker Polestar public. SPAC stocks are not what they used to be, and certainly a prime example of that is Gores Guggenheim (GGPI). While it did receive some meme-like attention in the past, it never soared to the heights of other more notable SPACs such as Lucid (LCID) and Virgin Galactic (SPCE). Perhaps the lack of visibility in the US was a contributing factor, but regardless 2022 has not been kind to SPAC stocks. All have been tarred with the same negative outlook. Perhaps harsh on GGPI, but considering I am long, I do have some confirmation bias. GGPI stock news June 22 was recently announced as the date when GGPI holders will get to vote on approval of the merger deal to take Polestar public via SPAC. GGPI holders can vote in advance of June 22. As a brief overview, Polestar is an electric vehicle manufacturer owned by Volvo and Volvo's parent Geely. My investment thesis is based on the fact that Polestar will piggyback on Volvo's manufacturing and service networks. This will eliminate the need for large investments and capex. It will also mean a quick route to market for Polestar. Also one of the main reasons for my continued investment has been the backstop at $10. SPACs are required to hold cash to the tune of $10 per share to return to shareholders in the event the deal does not complete, so for now there is little downside. However, the EV sector has been facing headwinds from supply chain issues, inflation and lockdowns in China. Polestar recently reduced its delivery guidance for 2022 from 65,000 to 50,000. In April Hertz announced it has placed a major order with Polestar for electric vehicles. The car hire company ordered 65,000 vehicles over five years. Hertz hopes to have Polestar vehicles available this spring in Europe and later in the year in the US. GGPI stock chart There is not a huge amount of new information to see here. $10 is support, but the stock is trending gradually lower and the death cross looks imminent. This is not exactly comforting to my long thesis, but this chart is early stage and is not showing significant trends or levels just yet. So we live in hope!
What will happen to Shiba Inu price after founder Ryoshi steps down

What will happen to Shiba Inu price after founder Ryoshi steps down

FXStreet News FXStreet News 31.05.2022 16:48
SHIB price at a crucial point to potentially break the downtrend.Shiba Inu founder Ryoshi retreats from the community and steps down after erasing all social media accounts.Ryoshi’s move may puzzle markets and could delay the bullish breakout.Shiba Inu (SHIB) traders must be on edge after the broad media picked up the last tweet and mic drop from Shiba Inu founder Ryoshi just moments before he erased all his social media accounts. With his stepping-down, traders will be questioning whether it is just the founder leaving the cryptocurrency to stand on its own two legs or there are more details to come given how the Luna debacle is still not far away in the back of their minds. SHIB price has retreated onto the back foot as a result and this could dampen hopes for a bullish breakout anytime soon as trust will need to be rebuilt over time.SHIB price breakout delayed as uncertainty sneaks inShiba Inu price sees its price action relatively contained after the last tweet from its fonder Ryoshi: “ I am just some guy of no consequence tapping at a keyboard, and I am replaceable. I am Ryoshi’. Although the pseudonymous founder already warned several times that he had no intentions of staying on indefinitely, the news has put traders on edge, questioning if this is the right time to buy or if something else is going on within the meme coin itself that could trigger future losses. Investors only just now started to shrug off the Terra Luna debacle. The timing is undoubtedly peculiar as the global trust in cryptocurrencies and alt currencies has not yet peaked back to levels from 2021.SHIB price technically was set to break above the red descending trend line and reclaim the historic pivotal level at $0.00001209. Now, however, the breakout is likely to be delayed and not materialise until a later stage as price action will now first look back for support around $0.00000965 or a higher level, depending on where the new monthly support levels will be appearing as of Wednesday, as a new trading month is just around the corner when they will be recalculated. In a couple of days, expect the bullish breakout to follow with price action reclaiming $0.00001209 and possibly $0.00001708 once traders are fully trusting and the news about the founder stepping down, has faded to the background.SHIB/USD daily chartAs mentioned in the previous paragraphs, the question remains if something else is cooking underneath the bonnet. Is there a similar risk at hand as with Tera Luna? Admittedly, SHIB price is not a stable coin and thus behaves entirely differently but traders may still suspect something is wrong. In a case where investors’ trust is dented, price action could break below $0.00000965 and sell off further in a sort of vote-of-no-confidence by traders who will bring price action down to $0.00000655.
3 Pharmaceutical Stocks to Protect your Portfolio: ABBV, BMY, MRK

3 Pharmaceutical Stocks to Protect your Portfolio: ABBV, BMY, MRK

FXStreet News FXStreet News 31.05.2022 16:48
While the S&P 500 has lost more than 13% year to date, pharma stocks are up 6%.BMY, MRK and ABBV have all beaten the pharma index so far this year.All three pharmaceutical stocks are relatively cheap and sport sizable dividends.All the top most-favored growth stocks of the last two years have been humbled in 2022. Since the pandemic began, retail investors piled into names like Upstart, Affirm, Sea Limited, Shopify and Snowflake. Although every single ticker is unique and unlike any other, investors who front-loaded growth have seen the value of their portfolios drop by as much as 80% in the first half of 2022's horrific market sell-off. The blame can be laid at expanding inflation, the covid supply crunch or the Fed's hefty interest rate hikes (or, more likely, all three), but nonetheless the fallout seems likely to continue. In the current scenario many investors are looking to preserve capital rather than make risky long-term bets that growth stocks return and similar multiples as before.At this point, nearly everyone knows that energy has been the best performing sector in the first half of this year, and oil stocks have made some of the best trades due to Russia's invasion of Ukraine and the ensuing oil price spike. Many observers appear to have missed out on the pharmaceutical industry though. The Nasdaq US Benchmark Pharmaceuticals Index has gained nearly 6% year to date, while the S&P 500 has lost more than 13%.S&P 500 vs. Nasdaq Pharmaceutical index YTDWhat is more, is that quite a few of the largest and safest pharmaceutical stocks have outperformed their index by a hefty margin. Below you can see how three of the best and biggest players in the industry have performed so far this year. While the benchmark index sits just below a 6% gain for the year, AbbView (ABBV) has garnered a 10.8% increase in valuation, Merck (MRK) has advanced 21.1%, and Bristol-Myers Squibb (BMY) has added 23% to its market cap. As a method of capital preservation, these three pharma stocks seem your best bet for waiting out the current market capitulation.Daily Chart of Pharmaceuticals index vs. MRK, BMY, ABBVWhile oil stocks have already made their advance, share prices in that industry are fickle. A severe drop in the price of oil is likely if the war in Ukraine comes to a halt this summer or fall. Pharma stocks on the other hand are only looking up. They are cheap, provide sizable dividends and act as safe havens during market downturns.AbbVie Stock Analysis and ForecastAbbVie (ABBV) has only been around since 2013 when parent Abbott Laboratories (ABT) decided to spin off its main pharmaceutical business. At that time some turned up their noses at the new stock, seeing as its drug Humira was about to lose its patent protection. For the next decade though, AbbVie went on an acquisition spree that has padded its top line and made it one of the largest drug manufacturers in the world.Even with a market cap of $265 billion though, AbbVie looks cheap on a number of metrics. Over the past half decade, despite growing revenue by 17.6% on average and operating cash flow by 25%, ABBV stock trades for just a 10.4 forward EV/EBITDA multiple. The sector at large averages 13.3 on this scale. Its forward price/sales ratio at 4.5 is also below its sector.It sports a 3.76% dividend, nearly thrice what the S&P 500 offers. On top of that, management has been growing the dividend at a 13.2% annualized growth rate over the past five years. With a rather high 78% payout ratio, it may seem like ABBV cannot possibly keep its dividend growing at this rate. However, AbbVie has managed to grow EBITDA (earnings before interest, taxes, depreciation and amortization) at a greater than 22% rate over the past five years, so substantial payout growth makes for a solid bet.ABBV stock has been in a downtrend since April 7. May has seen some consolidation and the closing of the gap formed on April 29. The 9-day and 20-day moving averages have overlapped during the past week and a half. If ABBV shares close below $147, then support seems strong at $140, which is where we recommend picking up shares. Closing above $157 will signal renewed interest, but resistance at $159.50 should be quite strong.ABBV daily chartBristol Myers Squibb Stock Analysis and ForecastBristol Myers Squibb (BMY) is the result of more than 130 years of acquisitions. Today the pharma giant has laboratories and operations in more than a dozen locations in the US, as well as the UK, Spain, Belgium and Japan. In 2019 BMY completed its largest acquisition yet with the $74 billion takeover of Celgene. It is known for its diabetes drugs and especially its cancer treatment Opdivo.Its EV/EBITDA multiple is 9, and its forward price/sales is 3.5, which is even cheaper than AbbVie. These low multiples are usually reserved for stale companies with bleak prospects, but Bristol Myers has grown revenue by more than 21% on average over the past five years and operating cash flow by more than 59% annualized in that span. On the dividend front, the 2.84% yield is more than twice the S&P 500 overage. The company has grown its dividend by 7% on average over the last half decade.Forecasting the next six months is hard with this one, since it has already advanced more than 20% year to date. The daily chart below shows what some might at first glance think looks like a triple top. In fact though, BMY shares have butted up against the $78.12 resistance level seven times since entering this bullish rectangle on April 7.Bullish rectangles are bullish continuation patterns where triple bottom and triple tops have failed on their confirmations. A close look at the chart shows that the last three candles to touch $78.12 have made attempts beyond above it. At the same time the last three low candles have not even reached the support at $74.86. This is another sign that BMY stock will soon break through its top line and travel until it finds more suitable resistance. The length of this bullish rectangle will determine how large the next run-up is, but we see at least $85 as the next level to overtake.BMY daily chartMerck & Co. Stock Analysis and ForecastMerck & Co. (MRK) is yet another diversified drugmaker with major products aimed at diabetes, cancer, autoimmune disorders and most recently an antiretroviral pill for treating Covid-19. Like its counterparts in this article, Merck has prospered by a heavy focus on research and via an active acquisition strategy. Over the past decade, Merck bought out Idenix Pharmaceuticals, OncoEthix, Cubist Pharmaceuticals, Afferent Pharmaceuticals, Calporta, Tilos Therapeutics, Rigontec and Peloton Therapeutics, just to name a few.Merck has grown slower than its competitors over the past five years but has remained robustly profitable. Revenues have grown on average about 7% per year, and operating cash flows have neared 10% growth annually. MRK’s EV/EBITDA comes in at just under 11, and it trades for a cheap four times forward sales. The dividend is what makes this one valuable. At 3%, the yield has grown at nearly a 10% clip annually over the past five years.MRK stock just hit a new all-time high on May 23, so $94.80 remains the target for bulls to beat. There is no reason to think that will remain the high of the year. The company and industry is cheap and has benefitted from the weakness in other sectors. MRK stock looks to have found support at $91. If it breaks below this level, then it will likely stop quickly at $88.77, a former resistance line. The 9-day moving average is solidly above the 20-day moving average, showing that MRK stock is trending in a healthy upward trajectory. Look to buy when the price meets the 20-day moving average around $91.MRK daily chart
Can Price Of Gold Reach $1900 Soon? Lower Yields And Weaker US Dollar (USD) Makes Dollar Go Higher | FXStreet

Can Price Of Gold Reach $1900 Soon? Lower Yields And Weaker US Dollar (USD) Makes Dollar Go Higher | FXStreet

FXStreet News FXStreet News 30.05.2022 16:41
Gold Price traded with upside on Monday as the US dollar continued to fade despite holiday-thinned trading conditions. XAUUSD was last changing hands near $1,860 and eyeing recent highs having found decent support at its 21 and 200 DMAs. Should market participants continue to pare Fed tightening bets, gold could reclaim $1,900, even if risk appetite also rebounds. Gold Price (XAU/USD) is trading with an upside bias in quiet, US holiday-thinned trade and eyeing a test of last week’s highs around $1,870 per troy ounce. At current levels around $1,860, XAUUSD is about 0.4% higher, having found support earlier in the session at the 21-Day Moving Average (at $1,849.25) and amid continued technical buying after spot prices found solid support at the 200 DMA (at $1,840) last week. US Economic Data Gold’s advances on Monday come despite a positive tone to global macro trade and are being driven by a continued weakening to fresh monthly lows in the US dollar. In wake of US Consumer Price Inflation data released earlier in the month and Core PCE inflation data released last week, market participants have become less worried about inflation in the US and, as a result, Fed tightening bets have seen a modest pullback (i.e. for H2 2022 and 2023). Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM US Bonds And US Dollar (USD) Helps XAUUSD US bond markets are closed on Monday, but price action in gold and USD markets suggests that yields will probably open the week lower, a continuation of the weakening trend that has, in tandem with the recent weakening of the US dollar, boosted XAUUSD by over 4.0% from sub-$1,790 mid-month lows. US data will be in focus this week with various tier one releases including the May ISM Manufacturing PMI survey and official May labour market report all out later in the week. Read next: Altcoins: Cardano (ADA) What Is It? - A Deeper Look Into Cardano (ADA) | FXMAG.COM Inflation Analysts argued that should the trends of easing US inflation fears, easing Fed tightening bets and subsequently, more downside in US yields and the buck continue, that could be a bullish medium-term driver for gold, even if it also boosts risk appetite (i.e. US equities). With XAUUSD having found such strong support at its 21 and 200 DMAs, the outlook for further upside towards the 50 DMA near $1,900 looks good. Follow FXMAG.COM on Google News
ShibaSwap, ShibaBurn, SHIB: The Metaverse. Can They Make Shiba Inu (SHIB) Crypto Rise? What's Going To Be Bitcoin Price (BTC/USD)? | FXStreet

ShibaSwap, ShibaBurn, SHIB: The Metaverse. Can They Make Shiba Inu (SHIB) Crypto Rise? What's Going To Be Bitcoin Price (BTC/USD)? | FXStreet

FXStreet News FXStreet News 30.05.2022 16:41
Shiba Inu price shows signs of expansion after coiling up for roughly two weeks. The recent recovery could be key in triggering a 75% upswing to $0.0000201. A breakdown of the support level at $0.0000106 will invalidate the bullish thesis for SHIB. Shiba Inu price shows that the bulls are back in town, however, a confirmation is still required before a green light can be given. A retest of the immediate barrier will provide SHIB with the required validation and further trigger a minor uptrend. While technicals provide one half of the picture, adding fundamentals completes the analysis. For Shiba Inu, the developers seem to be keeping their heads down and working on major upgrades and additions to the meme coin ecosystem like ShibaSwap, ShibaBurn and SHIB: The Metaverse. All positive developments. Decentralized Exchange, ShibaSwap Launched in July 2021, ShibaSwap is a decentralized exchange (DEX) built on the Ethereum blockchain using the ERC-20 standard. Like many other decentralized platforms in the game, Shiba’s native DEX will allow investors to swap tokens, and provide liquidity to liquidity pools. However, unlike Uniswap, SushiSwap or other DEXs, ShibaSwap allows its users to stake their tokens, participate in governance and trade on its NFT marketplace known as Shiboshis. The main constituents of this exchange include - SHIB, BONE and LEASH. While SHIB is a native token, BONE can be used as a governance token while LEASH, a play on algorithmic stablecoins, was going to be used to track Dogecoin’s price at a /1,000 rate. However, this mechanism has since stopped and the tokens are now unleashed and have a total supply of only 107,647. Reducing Circulating Supply Through ShibaBurn ShibaBurn capability was launched on April 24, when SHIB’s market value was down 77% from its all-time high of $0.0000885. The portal was launched to allow holders to “generate passive income.” The concept of burning in the crypto ecosystem indicates reducing the effective supply of tokens in circulation. This is done by sending the tokens to a predetermined wallet by the underlying project and its developers which will not allow users to retrieve the burned tokens. Since its inception, 410 trillion SHIB have been burned, reducing the total supply of Shiba Inu tokens by 41%. Therefore, a reduction in the supply causes a negative supply shock ie., when the supply is reduced but the demand remains the same or increases. Such a development will have positive effects on the underlying asset. Shibburn.com Typically, projects burn their funds trying to keep up with declining prices and user sentiment in the bear market. Some developers continue working on their ecosystems and very few come out of the crypto winter. Despite SHIB’s fall from grace over the past months, there have been massive developments in the Shiba Inu ecosystem on multiple fronts. Hence, investors should expect the market value of the meme coin to reflect the same very soon. Interestingly, technicals are already showing bullish signs that could be the start of a quick run-up. Expanding into Web3 with SHIB Metaverse The latest addition to the ShibaBurn and ShibaSwap features is SHIB: The Metaverse, which is a play on the ongoing fad for the crypto ecosystem to be interconnected with Web3. Like many Web3 or Metaverse-focused projects, Shib’s Metaverse plans include selling virtual land or plots. The entire metaverse can be split into four districts - Growth District, Defense District, Technology District and Currencies District. These districts further have segregations from Tier 1 through 4, with the former being the most “rarest” and by extension the most expensive. After minting their lands using their SHIB tokens, investors can add logos, rename plots, and lease them, all of which will leverage the native altcoin and even burn it. The developers have further plans to integrate LEASH and BONE as the metaverse receives updates. Shiba Inu price readies for significant recovery Shiba Inu price created a range, extending from $0.0000114 to $0.0000143 as it rallied 35% between May 12 and 13. This run-up faced a sell-off and swept the range low to retest the $0.0000106 support level. Since then, SHIB has recovered into the said range and is aiming to continue this trend. Interested investors can wait for Shiba Inu price to retrace and retest the range low before triggering a 25% move to retest the $0.0000143 hurdle. While this move is impressive, this is not where SHIB will stop its journey, since the bulls are aiming for the $0.0000201 barrier, which was significant support for Shiba Inu price between January 22 and May 6. In total, this move would constitute a 75% gain and is likely where the upside is capped for the meme coin. SHIB/USDT 4-hour chart On the other hand, if Shiba Inu price fails to bounce off the range low at $0.0000114, it will indicate buying weakness. If this move breaks down the subsequent support level at $0.0000106 it will create a lower low and invalidate the bullish thesis. Such a development will open the path for bears to tank Shiba Inu price to $0.0000089. Where is Bitcoin price heading next? In the following video, FXStreet analysts evaluate Bitcoin price action to determine where it will go next and whether altcoins will move in the same direction:
GameStop Stock News and Forecast: GME stock soars 12% as markets and retail recover

GameStop Stock News and Forecast: GME stock soars 12% as markets and retail recover

FXStreet News FXStreet News 27.05.2022 16:37
GameStop stock soars 12% on short squeeze hopes.GME stock rises to finish Thursday at $128.46 as equities and retail in particular recover.The meme stock is set to report earnings next week.GameStop (GME), the one that just will not go away, soared 12% on Thursday in a broad market recovery. The move higher in retail stocks was a relief rally following the carnage imposed on the sector by Walmart (WMT) and Target (TGT) earnings. However, solid reports from both Dollar Tree (DLTR) and Dollar General (DG) along with Williams Sonoma (WSM) helped entice investors back into the sector.Online retail traders are also still a factor despite their number diminishing this year. Volume in GameStop on Thursday was about twice the average as the stock trended heavily across social media platforms. Retail traders are focused on another short squeeze, but we believe that is unlikely to happen. GameStop Stock NewsThe upcoming earnings should see more details on the launch of GameStop's NFT marketplace, due to its launch in the second half of this year. Already GME stock had ticked up last week as the company launched its GameStop Wallet for users to store and send cryptocurrencies and nonfungible tokens (NFTs), all the while staying within the GameStop experience.GameStop is due to report earnings on June 1 after the close. Consensus earnings per share (EPS) is at $-1.22 and revenue estimates are for $1.32 billion. Even if GME matches these estimates, they are not exactly reassuring. EPS growth is headed in the wrong direction, falling 66%, and revenue growth is stuck at around +3% annually. Analysts have penciled in revenue growth to accelerate to nearly 8% by 2024, but that is still not comforting in our view. The latest data on video game sales shows a continued decline in the US – 8% in Q1 2022. GameStop is improving its revenue metrics but using too much capital to generate this revenue. So increasing revenue but also increasing losses makes no sense unless it is for the benefit of long-term investment. However, investing in crypto and the NFT space may be just at the time when this bubble is bursting. GameStop does have plenty of cash, over $1 billion due to astute cash raising during the meme stock phase. It also has low debt levels. so there is some value here, but investors are inflating the potential of new ventures.GameStop Stock ForecastIt may already be time to sell based on intraday data on Thursday. A spike to $148 but a close significantly lower at $128 speaks to already slowing momentum. This is always one of our warning signs in meme stocks. Talk of sky-high borrowing costs pushed GME stock higher, but those costs are only applicable to retail, not to institutional players who are the real shorts. They will likely use the latest spike to add to short positions rather than reduce. They know the power of the retail army is waning, and the market has changed from 2021 and 2022.Watch for tell-tale signs of a strong premarket and the first 30 minutes of trading before GME switches to red. If it does, then it is time to get out in our view. This is all about playing momentum and trying to time when that momentum has stalled. The 200-day moving average at $152 is an obvious resistance. And please stop with the buying of calls now! This move has caused volatility to spike. Higher volatility means higher option prices, so even if Gamestop does nothing call buyers are going to lose money on falling volatility. They are paying top of the market for volatility and likely top of the market for the underlying if you buy calls up here. Market makers will love them though.GME daily stock chart
Can GBP/USD Reach 1.24!? Will EUR/GBP Prove British Pound's Strength? It's Good To Diagnose EUR/CHF Performance This Week. Can DXY (US Dollar Index) Go Down?

Scam Alert: How to avoid trouble on Terra’s LUNA 2.0 airdrop

FXStreet News FXStreet News 27.05.2022 16:37
Terra’s LUNA hard fork scheduled for May 28, with subsequent launch and airdrop of LUNA 2.0. Blockchain security firm identified scammers sending Wrapped LUNA 2.0 to Terra Deployer, airdrops to Vitalik Buterin and Justin Sun. Terra core developers received governance approval to burn 1.3 billion UST, 11% of the existing supply from community pool. The LUNA hard fork is set to occur on May 28, followed by the subsequent airdrop of LUNA 2.0 tokens to eligible holders. Ahead of the real LUNA 2.0 airdrop, some scammers have tried to lure LUNA and UST holders to send their assets in lieu of receiving the new tokens. Terra's LUNA scam can steal your tokens While Terraform Labs prepares for the airdrop of the new LUNA 2.0 tokens, cybercriminals have taken advantage of the release and created fake airdrops of wrapped LUNA 2.0 tokens. To make the scam seem legitimate, these tokens have been airdropped to Vitalik Buterin, co-founder of Ethereum, Justin Sun, founder of Tron, and Andreesen Horowitz, a private American venture capital firm. The purpose of the scam is to lure LUNA and UST holders to send their holdings to the criminal for the fake airdrop. PeckShieldAlert, a blockchain analysis and security firm, has issued an alert about the case on its Twitter profile. The attacker’s purpose is to make users believe that the wallet airdropping wrapped LUNA 2.0 is a legitimate address. Despite the recent price crash and the de-peg of UST, receiving a large number of Terraform Labs’ tokens could yield high value for scammers. Fake LUNA token Terra’s LUNA hard fork has arrived Terraform Labs has confirmed the arrival of LUNA hard fork and the rebirth of the token, Terra 2.0. The Terra developer community worked around the clock to coordinate the launch of the new blockchain, it is expected to go live on May 28, at 6:00 AM UTC. Several cryptocurrency exchange platforms, validators and developers have extended their support for Terra’s new Genesis Chain, and the LUNA tokens. Ahead of the genesis event, Terraform Labs will share a file with validators, while the first block of the new chain is produced simultaneously. All Terra ecosystem components, Station, Finder, the block explorer and Observer – the feeder for decentralized applications – will have full functionality when the new network goes live. Dapps that have committed to migrating to the new Terra chain will announce their launch, soon after the LUNA hard fork. Everything you need to know about the Terra LUNA 2.0 airdrop The LUNA airdrop will occur on the first block of the new Terra blockchain, on Saturday, May 28 around 6 GMT. Eligible holders will receive 30% of the airdrop at genesis, thereafter remainder of tokens will be vested linearly for two years, with a six-month cliff. Vested LUNA will be the tokens automatically staked to Terra validators. This is done to preserve the security of the new Terra chain. Users with vested LUNA will earn staking rewards and they can un-delegate, redelegate and claim their rewards at any point. Following the unlock of tokens at genesis, there will be no further unlocking for six months, this is the 6-month cliff that ensures network security. Vested LUNA will thereafter be distributed on every block, approximately every six seconds to the user's wallet, after the cliff. If a user wishes to access their vested or staked LUNA, they need to un-delegate it at least 21 days before the first day of their cliff. If users do not pull out their tokens, they can continue to earn staking rewards. The new LUNA token can be used for the following purposes: Earning rewards Participating in the new Terra chain’s governance Usage of dApps upon launch Trading across exchanges Eligible holders will automatically receive the airdrop of the new LUNA 2.0 tokens, and these will be made available in users’ Terra wallets automatically. Staked vesting tokens will show up in Terra Station and the users can verify the same by visiting the “stake” tab on the new network. Cryptocurrency exchanges that support the airdrop will share further information with users. Terraform Labs believes the new Terra chain will be one of the most decentralized and community-owned blockchains ever launched in the crypto ecosystem. 1.3 billion UST burn from Terra’s community pool announced Terraform Labs developers have announced the burn of 1.3 billion UST, that was held in the community pool. After receiving a nod from the governance through proposal 1747, 11% of UST’s existing supply of 11.2 billion will be burned. Proposal 1747 1.3 billion UST burn The burn was proposed to reduce the outstanding bad debt of the Terra economy and to slowly restore the algorithmic stablecoin’s peg. Burning the community pool’s UST eliminates a significant chunk of the supply and alleviates the peg pressure on the stablecoin. Over an extended period of time, this could aid the slow burn rate and the type of downstream effects that inflated on-chain swap spreads and influenced the Terra economy. The community pool tokens and the remainder of the cross-chain UST on Ethereum deployed as liquidity incentives equate to a total burn of 1,388,233,195 TerraUSD. Why crypto traders shouldn’t be afraid to buy this NFT token Amidst the rising volatility and uncertainty in the crypto ecosystem, analysts at FXStreet have identified an NFT token with high bullish potential. Analysts believe ApeCoin price could break out after a potential bear trap setup. For more information, check this video out:
Gold Price (XAUUSD) May Shock Investors! Trading plan for Gold on June 21, 2022 | InstaForex

Gold Price Analysis: XAU/USD holds above 200-DMA near $1,850 as focus turns to Friday’s US inflation data

FXStreet News FXStreet News 26.05.2022 16:43
Gold Price is holding above its 200-DMA in the $1,850 area and is back to nearly flat on the week. Traders are weighing the tailwinds of a softer USD and US yields versus strong US equities, as key Friday inflation data looms. How Fed And USD May Affect Gold? Gold Price (XAU/USD) is for now holding just above its 200-Day Moving Average at $1,839 and trading near the $1,850 level, though still with a slight downside bias on the day, despite Thursday’s worse-than-expected US GDP figures and Wednesday’s not as hawkish as feared Fed minutes release. Indeed, in wake of the weak data and modest paring back of hawkish Fed bets, the US dollar is a tad weaker and US yields are nudging lower, a combination that would normally be a tailwind for gold. Stronger Stocks - E.G. S&P 500 But US equities are rallying, with the S&P 500 last trading up around 1.4% on the day and eyeing a test of its 21-Day Moving Average for the first time since mid-April. On the week, the index is trading with gains of more than 3.0% and this appears to be weighing on the safe-haven precious metal. Traders are attributing stock market gains to weak GDP data reducing the need for aggressive Fed tightening and to strong earnings from a few US companies, including retail giant Macy’s. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM Either way, the better tone to risk appetite is for now keeping XAU/USD on the back foot. Having been as high as the $1,870 level earlier in the week, spot gold’s gains on the week have been eroded back to only about 0.2% from around 1.2%. But the recent pullback towards the 200-DMA might prove a good opportunity for the gold bulls to add to long positions if they think that hawkish Fed bets will continue to be pared in the weeks ahead and, as a result, the buck and US yields continue softening. If it contributes to the strengthening narrative that US inflation has peaked, Friday’s US April Core PCE report could lead to a further reduction of Fed tightening bets and gold could well end the week back at highs in the $1,870 area. Follow FXMAG.COM on Google News
Stocks To Watch: 5 consumer cyclical stocks to track during earnings: BROS, ATER, HYLN, CPNG and BBIG

Stocks To Watch: 5 consumer cyclical stocks to track during earnings: BROS, ATER, HYLN, CPNG and BBIG

FXStreet News FXStreet News 26.05.2022 16:43
BBIG collapses as it delays Cryptyde spin-off shares. Consumer stocks set to report on Thursday include Dollar Tree and Dollar General. After Walmart and Target contractions, these will be closely watched. Consumer discretionary spending is one of the main drivers of the US economy, and last week saw confidence in the sector take a significant hit on the back of earnings from Walmart and Target. Consumers were already shifting their behavior to lower priced goods, and this looks set to be a feature that will hurt the consumer sector over the next year. Margin compression was a notable result. BROS Stock News Dutch Bros (BROS) stock has remained volatile after the meltdown in consumer names last week. BROS stock fell 15% but has since recovered some ground as it seeks to close the gap from May 11. BROS stock actually rallied 12% last week but still remains below its major long and short-term moving averages. The recovery last week and so far into this week was partly due to the Relative Strength Index (RSI) and Money Flow Index (MFI) both moving into overbought territory. BROS earnings on May 11 created the current malaise, and the stock will likely struggle to regain momentum. The earnings pointed to continued margin pressure and flat sales. It appears growth is being driven by the opening of new stores, but with inflation and financing conditions tightening the ambitious growth plans may not be met. Stifel lowered its rating after the results. BROS stock chart, daily ATER Stock News Aterian (ATER) stock has also stopped the slide this week following a similar poor earnings report. Last earnings for Aterian showed a huge miss on bottom line profitability. Again margin pressure was huge with 150bps of margin erosion. ATER CFO Arturo Rodriguez said this pressure will continue into the current quarter and the company did not provide full-year guidance due to inflation and supply chain problems. ATER stock fell 10% after it reported earnings and has since treaded water in line with the sector. We struggle to see any headway being made either for the company or the share price. Margin pressure is likely to continue for the rest of FY2022 and even persist into FY2023. ATER stock chart, daily HYLN Stock News We do have more positive news to report on Hyliion (HYLN). HYLN stock is ahead by 6% in Thursday's premarket after Hyliion said that Holcim US has ordered 10 Hypertruck ERX production slots. Holcim is a huge multinational construction and aggregates company based in Switzerland. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM Hyliion aims to make commercial trucking greener with the use of its Hypertruck ERX powertrain. This is an electric powertrain, which is recharged by an onboard gas generator. This is especially relevant in the current climate with multiple reports of trucking companies declining cross US cargo trips due to spiraling fuel costs. HYLN stock chart, daily CPNG Stock News Coupang (CPNG) is a South Korean e-commerce company that has been compared to Amazon. While CPNG stock is down over 50% this year, Coupang did recently announce surprising earnings that showed continued strength in profitability and impressive margin maintenance. Profitability increased to over $1 billion last quarter, which was a 40% gain YoY. Margins also increased 450 basis points. The shares rallied sharply after earnings on May 11. CPNG stock has held those gains and stabilized. CPNG stock chart, daily BBIG Stock News Vinco Ventures (BBIG) was one of the stocks we recently recommended as one not to hold despite enthusiasm over the proposed Cryptyde (TYDE) spin-off. This will result in a bonus share issue of 1 TYDE share for every 10 BBIG shares held. However, as we pointed out in our note, BBIG has financial problems with noted upcoming convertible note maturities that will need to be met. This could result in share dilution, which the company itself has warned of. "A substantial number of shares of our common stock may be issued upon conversion of our outstanding convertible notes or exercise of our outstanding warrants, and such issuances and any other equity financing we may conduct may significantly dilute our stockholders." Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM It also operated in crypto, and recent troubles in the sector are now well-publicized. Thursday sees more headwinds hit BBIG stock as it announces a delay to the proposed spin-off. No fresh date has been announced, leading to more uncertainty. The company said the spin-off date is at or near the end of the second quarter. Previously, it had been due on May 27. BBIG stock has fallen 13% in Thursday's premarket. The record date for the spin-off was May 18, but the company said on Thursday those holding BBIG stock on May 18 will need to hold it until the distribution date, which is unknown. Not exactly reassuring! BBIG stock chart, daily Follow FXMAG.COM on Google News
Terra’s LUNA fork could happen tomorrow, here’s how you need to prepare

Terra’s LUNA fork could happen tomorrow, here’s how you need to prepare

FXStreet News FXStreet News 25.05.2022 16:44
Terra’s LUNA fork proposal has passed with 65.5% votes, Revival Plan 2 in action without algorithmic stablecoin UST. The Korean Herald writes Do Kwon contacted top five Korean cryptocurrency exchanges for LUNA 2.0 listing, but he denies it.Three law firms have offered to commit over $15 million to a community litigation fund for a potential class action lawsuit against Terraform Labs. Terra’s LUNA 2.0 testnet is now live, the snapshot could happen on May 26 and the mainnet launch is expected to occur as soon as Friday, May 27, thus completing the LUNA fork. Terra’s mainnet launch will be accompanied by an airdrop for eligible LUNA and UST holders. Whistleblowers from the Terra community have gathered legal support and a litigation fund to file a lawsuit against Terraform Labs and its co-founders. Terra’s LUNA 2.0 is here, testnet is now liveVoting on Do Kwon’s Terra Ecosystem Revival Plan 2 is now complete, with a majority of the community welcoming the rebirth of Terra, giving birth to LUNA 2.0. 65.5% of the votes were in favor of the plan to revive LUNA, and distribute the new token to “pre-attack” and “post-attack” LUNA and UST holders and the developer community. Voting on Proposal 1623 Rebirth Terra Network endedOrbital Command, a validator dedicated to educating the Terra community, announced on Twitter that LUNA 2.0 testnet is now live. The validator announced a mainnet launch is set to occur on May 27, the event that should complete Terra’s LUNA hard fork. The LUNA 2.0 native asset is LUNA and community members holding both before and after “the attack” LUNA and UST are eligible for the first airdrop, including 30% of all tokens. The “pre-attack” snapshot is from May 7 and the “post attack” one is scheduled for May 27. For better understanding, a user with 1000 UST on May 27 (“post-attack” snapshot) is eligible for 0.013 times 1000, 13 new LUNA tokens. Each category is eligible to receive new LUNA in a fixed manner:Pre-attack LUNA - 1 : ~1.1Pre-attack aUST - 1 : 0.033Post-attack LUNA - 1 : 0.000015Post-attack UST - 1 : 0.013Regardless of the category in which a user falls, 30% of the LUNA 2.0 airdrop will be unlocked at the genesis on May 27 and the rest would be vested linearly over two years with a six-month cliff. This period ensures that token holders with small quantities have similar initial liquidity profiles. The airdropped tokens will be in a bonded state and users will have to wait to un-bond for 21 days before being able to transfer them. In this case, un-bonding is the action of telling the LUNA 2.0 network that you want to unlock your tokens. Not a hard fork, but a genesis chainDo Kwon’s final recovery plan for LUNA drops algorithmic stablecoin UST and proposes the development of a new blockchain, while the LUNA asset name remains the same. This process is being referred to as a hard fork in the Terra community. Terraform Labs has shed light on the nomenclature and explained that the rebirth of LUNA as a genesis chain is not a hard fork, though. LUNA 2.0 would not share all of its history with the previous chain, unlike what occurs in a typical hard fork. Therefore, LUNA 2.0’s blockchain starts with block 0 and abandons LUNA classic. This means applications that existed on LUNA classic (LUNC) do not pre-exist on the new chain, and they will need to be migrated to LUNA 2.0. Several protocols on LUNC have come forward with support for LUNA 2.0. Phoenix Finance, Spectrum protocol, Astroport, Terra Name Service, Falcon wallet are among the key applications that are ready to migrate to LUNA 2.0 and extend their support to Terraform Labs. Do Kwon denies approaching Korean exchanges for LUNA 2.0 listingA South Korean media outlet, Heraldcorp, reported that Do Kwon, the co-founder of Terraform Labs, approached the top five cryptocurrency exchanges of Korea for a LUNA 2.0 listing. The financial investigation arm of South Korean police force is currently investigating Terraform Labs and the two sister tokens, LUNA and algorithmic stablecoin UST, following their colossal crash. Authorities reached out to exchanges, asking them to freeze accounts related to Terraform Labs’ collapsed tokens. As a consequence, exchanges have ended their support for LUNA (LUNC). Do Kwon addressed the news on his Twitter handle and denied the allegations. Heraldcorp had reported the incident after an industry insider shared details of how contact was made and the contents of the Telegram message sent by Do Kwon’s executive from Terraform Labs. Binance CEO CZ drops key details related on LUNA and UST crash on AMAIn an AMA session held on Reddit, users reached out to Binance CEO Changpeng Zhao and asked several questions related to the colossal UST crash and de-peg, and the upcoming LUNA hard fork – or genesis chain as Terraform Labs refers to it. Binance’s CZ revealed that the world’s largest exchange had staked Terraform Labs’s algorithmic stablecoin UST in the Anchor protocol. However, it was a part of the exchange’s earn program and it was accompanied by user education and extensive disclaimers. Binance was transparent about how staking UST on the Anchor protocol works, and its associated risks. CZ alleviated concerns of UST and LUNA holders on Binance and offered insights on why the exchange paused trading of the assets when network was unstable and the tokens’ blockchain halted through the event of the crash. Whistleblower bands together three law firms to fight Terraform LabsTerra community member and whistleblower “FatMan” has banded support from three leading law firms to raise funds for litigation. His goal is to file a class action lawsuit against Terraform Labs and Do Kwon et al. @FatManTerra has shared regular updates and insights from whistleblowers related to the crash of UST and LUNA and the involved institutions on his Twitter account. LUNA 2.0 prepares for rebirth, meme coins break into rallyTerraform Labs’ LUNA 2.0 is set to launch on the mainnet, and the crypto market is on track to recover from the recent bloodbath. Shiba-Inu-themed meme coin SHIB price took off, fueling a bullish sentiment among investors. Analysts at FXStreet have evaluated the Shiba Inu price trend and predicted a target for SHIB. For more information, watch this video:
FOMC Minutes Quick Preview: Another win for the dollar, and for a different reason

FOMC Minutes Quick Preview: Another win for the dollar, and for a different reason

FXStreet News FXStreet News 25.05.2022 16:44
The greenback has gained ground in response to safe-haven flows. Hawkish FOMC minutes are expected due to various reasons. Fresh dollar strength may come from rising yields. Win-win for the dollar? That seems to be the case for the world's reserve currency as it awaits the main event of the week – the FOMC Meeting Minutes. In this preview, I will lay out why the greenback's only way is up.How is it winning so far? The US has been publishing disappointing economic figures in the past two days. The S&P Global Services PMI tumbled, New Home Sales collapsed and Durable Goods Orders "only" missed expectations.That led to worries about US growth, which would adversely impact the entire world, and eventually triggered safe-haven flows to the US dollar. These same economic figures also pushed investors to lower their bets on the Federal Reserve's path of rate hikes, softening bond yields. How could the dollar win next?The FOMC Meeting Minutes are released later in the day and they reflect the views of the broader team at the central bank, not only the one agreed on in the statement. Since that May 4 decision, both Nonfarm Payrolls and the Consumer Price Index beat expectations, leading to more hawkish tones from Fed Chair Jerome Powell. But Powell was only the latest to join the strong anti-inflation rhetoric – some of his colleagues such as James Bullard, Esther George and Raphael Bostic have already been voicing such opinions in public. The meeting minutes will likely reflect more hawkish views.Another argument in favor of a more hawkish tone is an attempt to show the Fed is in control – restoring its credibility as having the upper hand against rising inflation. I want to stress that the Meeting Minutes are not a raw description of what happened in the meeting. They are edited to reflect a message that the bank wants to convey to markets – and that message is hawkish.What to expectWhat would a hawkish tone sound like? It would probably show a desire by some to leave the door open to raising rates by 75 bps. Powell talked about two 50 bps moves but rejected a larger one. He's not alone. Another hawkish twist would be if some hawks – or even a majority of members – suggest to actively sell Mortgage-Backed Securities (MBS) in order to cool the bubbling housing market. That would mean withdrawing money out of markets at a faster pace – like printing money faster, just in reverse. In case my analysis is correct and the minutes go further than the decision, bond markets should move to reflect a more aggressive path of rate hikes. In turn, that should give the dollar another boost. So, the greenback gained ground despite lower bond yields. If they rise, there is more room for dollar rallies. USD/JPY Technical SetupAs usual, I recommend focusing on USD/JPY when trading US events. Higher yields will push the pair higher – contrary to trading the economic data in recent days, which pushed dollar/yen lower in response to disappointments. The upside target is 127.60, followed by 128.10 – both played a role in the pair trading in recent days. Support is at 127, followed by 126.35.
Do Kwon in trouble as Korean police urges Upbit, Bithumb, Coinone, Korbit and Gopax to freeze Terra’s assets

Do Kwon in trouble as Korean police urges Upbit, Bithumb, Coinone, Korbit and Gopax to freeze Terra’s assets

FXStreet News FXStreet News 24.05.2022 16:37
Cryptocurrency exchanges are freezing assets linked to the Luna Foundation Guard after instructions from South Korean authorities. A group of South Korean investors has filed a lawsuit against Terraform Labs cofounders Do Kwon and Daniel Shin in light of the LUNA and UST crashes. South Korean legislators to meet Korea’s top five exchanges on May 25, to check status of LUNA and UST customer losses. Do Kwon faces legal proceedings in South Korea while endorsing a revival plan to fork Terra with a new token, excluding TerraUSD. On Wednesday, South Korean authorities are scheduled to meet cryptocurrency exchanges Upbit, Bithumb, Coinone, Korbit and Gopax after instructing them to freeze Luna Foundation Guard assets. South Korean investors file lawsuit against Do Kwon and Daniel ShinSouth Korean investors of the Terra community have started legal proceedings against Terraform Labs’ cofounders. Investors have filed a lawsuit against Do Kwon and Daniel Shin in response to the colossal crash of Terraform Lab’s LUNA and TerraUSD (UST). South Korean regulators have instructed cryptocurrency exchanges Upbit, Bithumb, Coinone, Korbit and Gopax to freeze assets linked to the Luna Foundation Guard (LFG). The authorities have scheduled a meeting with exchanges on May 25, 2022. South Korea’s ruling party will discuss the Terra de-peg event and decide whether they should be held accountable for funds lost by investors in the LUNA, UST crash. Police investigates Luna Foundation Guard According to reports by KBS, the South Korean police is keen on freezing LFG’s assets and scrutinizing the loss of user funds in the colossal Terra crash. The Seoul Metropolitan Police Agency’s cybercrime investigation unit is the regulatory authority that asked exchanges to withhold funds held in Terra-affiliated wallets. According to the same KBS report, the police are suspicious of the misappropriation of corporate funds. While the exchanges have no legal obligation to freeze funds, they could adhere to the South Korean police’s request. Kwon promotes LUNA revival plan despite legal proceedings Terraform Labs co-founder Do Kwon has recently surfaced online to remind LUNA holders that sending their LUNA to the burn address is not good. Kwon has asked the community to support the revival plan as voting ends on Wednesday. 65.78% of voters favor the Terra fork and the removal of algorithmic stablecoin UST from the LUNA ecosystem. According to voting data, nearly 35% of voters continue to reject or critique the idea of a fork. Votes on plan for Rebirth of the Terra networkIMF head labels stablecoins a “pyramid” scheme After the collapse of Terraform Lab’s algorithmic stablecoin, Kristalina Georgieva, managing director of the International Monetary Fund (IMF) said,When we look at stablecoins this is the area where the big mess happened. If a stablecoin is backed with assets, one to one, it is stable. When it is not backed with assets, but it is promised to deliver 20% return, it’s a pyramid. What happens to pyramids? ... They eventually fall to pieces.The UST’s de-peg and colossal crash of sister tokens wiped out $39.1 billion from market value of Terraform Labs tokens. Weekly top gainers in cryptoFXStreet analysts have identified PEOPLE, KNC, and ANT as the top three cryptocurrencies in terms of gains over the past week. Analysts have evaluated the top gainers and losers of the week, predicting a recovery in cryptocurrencies after the recent bloodbath.
GameStop Stock News and Forecast: As meme king releases crypto wallet, GME looks ready to charge at $130

GameStop Stock News and Forecast: As meme king releases crypto wallet, GME looks ready to charge at $130

FXStreet News FXStreet News 24.05.2022 16:37
GME stock has been trading sideways of late.GameStop released their branded crypto wallet in the Google Play store.Breaking through top line resistance implies a small rally may coalesce.GameStop (GME) stock is reacting very little to management's unveiling on Monday of its first branded cryptocurrency wallet. In fact, shares are down 1.2% in the premarket on Tuesday to $95. This does not mean, however, that GME is destined to follow the market lower over the next few weeks. In contrast to the general market, GameStop's 4-hour chart presents a rather bullish case for a move higher, possibly to $130.GameStop Stock News: One wallet to rule them allGameStop's new crypto wallet, called the GameStop Wallet simply enough, allows gamers to use it directly in their browser extensions. The wallet is GameStop's first foray into being a technology company, according to superfan site GMEdd.com. The idea behind it is that as more and more online games involve crypto-based prizes or items, the Gamestop Wallet will be the most convenient way to store them. In this sense, it is not such an unrelated sphere to invest in.The wallet is a self-custodial wallet based on the Ethereum blockchain, which means that GameStop is not liable for lost or stolen crypto assets. The wallet was released on Sunday night on Google Play store without any announcement from the company, although its release has been rumored for months.The crypto wallet is still in its beta infancy and may be tweaked in the future but currently, it allows users to transfer assets and currencies on both Ethereum's Layer 1 and Loopring's Layer 2 platforms. The Loopring Layer 2 offers transaction fees as low as 0.1%Another use for the wallet is the storage of NFTs, which are often connected to digital gaming these days. GMEdd.com says, "two of the biggest barriers of NFT mass adoption [are] the complicated wallet set up process and high gas fees; GameStop’s new wallet solves both of these problems with its user-friendly onboarding design and native L2 integration that eliminates gas fees."GameStop Stock Forecast: Bet on GME retesting $130 in near futureI am no meme stock fan or AMC ape. I am more at home in the world of five-year dividend growth rates and Chowder numbers, but the current GME stock chart intrigues me. Here we have a descending top line that acted as resistance for the past two months being ignored entirely by GME stock starting on May 19. Since then GME shares have drifted sideways well outside of the past two months' descent. It appears that a new price action structure is forming. In the same way that GME price action found support at or just below $80 in mid-March, shares consolidated once more at this same level between May 11 and May 12. Once again $80 acted as a jump-off point. $80 now seems like a double bottom, which typically leads to stronger reversals. The current environment where even robust mega-cap tech stocks are selling off may be the wrong time for a sustained rally, but the chart sure seems like it is telling us something. Additionally, support at $88 comes stems from January. The Relative Strength Index (RSI likewise shows a sustained move beginning on May 12. If GME price can close above $100 and the RSI can close above 50 (resistance), then there is a good chance GME can take off for another test of $130. The $130 level has acted as both support and resistance all year so far and as such seems a clear pivot.GME 4-hour chart
Altcoins: Another Terra's LUNA price failed recovery attempt causes uproar in the crypto community

Altcoins: Another Terra's LUNA price failed recovery attempt causes uproar in the crypto community

FXStreet News FXStreet News 23.05.2022 16:44
Terra’s LUNA price fails to recover despite Proposal 1299 to rescue over 154.7 million UST stuck in Osmosis and side chains. Anonymous Terra community members have come forward as whistleblowers, revealing facts on the deal with Jump Crypto. Do Kwon told the Terra community that sending LUNA to the burn address is "a loss" and "not a good idea." Several whistleblowers have contacted Terra community member “FatMan” and revealed details of Terraform Labs co-founder Do Kwon’s monthly payments to quantitative trading firm Jump Crypto and their role in the crash of UST. Proposal 1299 has failed to fuel a recovery in Terra’s LUNA price. Terra’s LUNA price stuck while whistleblowers call out Do Kwon Algorithmic stablecoin TerraUSD (UST) witnessed a colossal crash more than a week ago, losing its $1 peg, with Terraform Labs’ tokens LUNA and UST lost a combined market value of $39.1 billion within a week. This event has been marked as the “first crypto bank run” in history and had a catastrophic impact on Terra’s LUNA price, which crashed from almost $100 to the current levels below $0.0002 in the span of a couple weeks. Also read: LUNA price has turned into a crypto zombie with no revival to come Terra Research forum user “FatMan” has come forward with insights into Terra’s co-founder Do Kwon and the deal with Jump Crypto. @FatManTerra has published his findings in a recent Twitter thread. According to the findings, Do Kwon pays a fixed monthly installment of LUNA to repay his debt to Jump Crypto. @FatManTerra is yet to publish further details of these transactions. This Agora Terra forum user states that Jump Crypto manipulated retail investors into losing billions on LUNA and UST. The community member is yet to furbish evidence of transactions that connect Jump Crypto to the UST crash. Terraform Labs proposal 1299 fails to rescue 154.7 million UST In order to rescue the UST stuck on side chains, proposal 1299 was put forward by Terraform Labs. During the colossal crash, Terra validators disconnected Inter Blockchain Communication (IBC) as a stop gap solution. The proposal was passed, however, today it failed to execute due to technical issues. Among all side chains, Osmosis alone accounts for 154.7 million in LUNA and UST. The Terraform Labs tokens stuck on side chains are not covered in the “Revival Plan” that compensates holders for their losses in the coordinated attack. As a result of this failure, UST and LUNA tokens stuck on side chains will be excluded from the launch snapshot, thereby resulting in losses for community members. The rescue proposal 1299’s execution is key to a potential Terra’s LUNA price successful recovery. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM LUNA sent to burn addresses "is lost, not a good idea" Do Kwon has been criticized by the Terra community for his plan to leave the algorithmic stablecoin UST out of the final recovery strategy for the Terra ecosystem. Community members have reached out to Kwon on Twitter and informed them that they can aid Terra’s recovery by burning LUNA. Do Kwon answered by telling the Terra community and his 1 million followers on Twitter that LUNA sent to burn addresses is lost and it is not a good idea to burn these tokens. Terra Ecosystem Plan 2, Kwon’s proposal for the rebirth of Terra, has been criticized by the community. Over 52.6 million voters have abstained from voting on Proposal 1623, and 35.2 million have voted “No with Veto.” This puts the count of negative votes at 87.8 million, which accounts for over 33% of the community not having confidence in the plan for the recovery of Terra’s LUNA price. Crypto market trying to bounce back While the prospects for a Terra LUNA price recovery still look grim, the cryptocurrency market is trying to regain its footing, with several coins showing technical bullish setups. Check the following video to see how to trade them. Follow FXMAG.COM on Google News
Selling opportunity? Why GBP/USD's rally is unjustified and could lead to a downfall

Selling opportunity? Why GBP/USD's rally is unjustified and could lead to a downfall

FXStreet News FXStreet News 23.05.2022 16:44
ECB President Lagarde's hawkish comments have dragged the pound higher. BOE's Bailey is set to cool expectations with potential recession warnings. The four-hour chart shows that GBP/USD is entering overbought territory. GBP/USD’s short-term bullishness looks like a selling opportunity – the currency pair has been extending its gains, somewhat influenced by the strengthening euro, which got a boost from ECB President Christine Lagarde. She said that the bank could raise rates by 50 bps by September, a relatively aggressive timeline. There is a feeling that central banks are catching up with the hawkish US Federal Reserve and raising rates quickly. The ECB's determination is boosting the euro and also dragging the pound higher on the way. But is it justified? Recession warnings Later in the day, Bank of England Governor Andrew Bailey is set to speak about monetary policy, and he will likely reiterate his stance that the BOE is ready to tighten its policy to curb inflation. We know that another 50 bps or so of rate hikes are coming. On the other hand, Bailey warned that price shocks could already send the British economy into recession, The cost-of-living crisis is, therefore, self–correcting. Higher prices curb expenditure, lower growth, raise unemployment and eventually push inflation lower. That means the scope for the BOE to further hike rates is limited. My analysis above implies that if Bailey merely repeats his warnings – if so the current upside move of the pound could be reversed. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM GBP/USD Technical Analysis The technicals back it up. Initially, they give GBP/USD scope to rise toward 1.2640, May's high, but not to the next big round level at 1.27. The 4h-RSI is almost at 70, and moving some 100 pips from current levels would put it in overbought territory. There is a greater chance of a climb down to support at 1.2545 than an upside move. Follow FXMAG.COM on Google News
Chinese rate cut triggers USD/JPY sell opportunity for three reasons, levels to watch

Chinese rate cut triggers USD/JPY sell opportunity for three reasons, levels to watch

FXStreet News FXStreet News 20.05.2022 16:42
USD/JPY has bounced after China announced a rate cut and boosted the market mood.Japan's high inflation, comments from Japan's PM and a return to a sour mood point lower.The double-bottom of 127 is the big prize for bears.USD/JPY bearish – China cut its LPR interest rate, which improved the market mood and especially hit the safe-haven Japanese yen, which benefits from demand when things go wrong in Asia. China's shot in the arm for its economy is a bullet in the arm for the yen.However, there are three other factors to consider. First, the weakness of the Japanese yen has gone too far – and that is seen in inflation figures. The National Core Consumer Price Index jumped from 0.8% YoY in March to 2.1% in April. While that seems low in comparison to American or British inflation, that may push the Bank of Japan to moderate its ultra-loose monetary policy. The second factor is a verbal intervention – but from the Japanese Prime Minister Fumio Kishida. The leader of the world's third-largest economy said that rising raw material prices alongside a weaker yen is affecting households and businesses. He also called on keeping close ties with currency authorities overseas. Does he want a coordinated effort to strengthen the yen? Is he conveying a message to the BOJ regarding its policies? A rare comment from Kishida may give a boost to the yen. The third factor is the day of the week – investors tend to take risks off the table on Friday. While China has improved the mood, it could sour once again, sending money to bonds and lowering their yields. USD/JPY is highly correlated with US 10-year Treasury yields. USD/JPY Technical AnalysisTechnicals also support a resumption of the fall. USD/JPY is trending within a broad downtrend and has failed to break above the 4h-200 SMA. Momentum remains to the downside and the RSI is between 30 to 50, pointing to further falls. Some support is at 127.60, the previous monthly low, and it is followed by 127, which has witnessed two lows. Even lower at 126.20 provided a cushion in April. Looking up, resistance is at 128.20, the daily high.
Tesla Stock News and Forecast: TSLA fails as more Elon Musk headlines dominate

Tesla Stock News and Forecast: TSLA fails as more Elon Musk headlines dominate

FXStreet News FXStreet News 20.05.2022 16:42
Tesla stock fails to rally on Thursday, closing more or less flat.Elon Musk harassment claims surface as he tweets to say "utterly untrue".TSLA stock should recover on Friday as equities get a boost from options expiry.Tesla shares closed more or less flat on Thursday despite some risker stocks closing higher. Overall though, it was in line with market performance with all major indices closing lower but in a calmer fashion after Wednesday's meltdown. Tesla has been managing to hold above the $700 level with some occasional intraday spikes below. Elon Musk has repeatedly been making headlines for his reticence over the Twitter deal and now for more unsavory claims.Tesla Stock NewsThis is not really directly Tesla news, but Elon Musk is Tesla, and so it does affect the stock price. Business Insider published an article on Thursday claiming that SpaceX had paid a $250,000 severance to a flight attendant, who accused Musk of sexual misconduct. The report is quite detailed and has now been picked up by most media outlets. Elon Musk tweeted thusly:Elon Musk tweeted what is presumably a response to the report above. CNBC picked up the story and looked for comment from SpaceX but so far has not received a response as far as we are aware. Business Insider said it moved the deadline for the article after Elon Musk said there was "a lot more to this story" and asked for more time to respond, but the article states that he never made any further response beyond: “If I were inclined to engage in sexual harassment, this is unlikely to be the first time in my entire 30-year career that it comes to light,” Musk reportedly told Insider. He said the article was a “politically motivated hit piece".The alleged incident is reported to have occurred onboard a SpaceX flight in 2016.Tesla should at least get a boost from news that China is stepping up its fiscal stimulus measures just when every other major central bank is tightening. Overnight, the Peoples Bank of China cut interest rates by 15 basis points in a surprise move. China is trying desperately to revive its flagging economy due to covid lockdown measures. Chinese demand is crucial for Tesla, and China is the world's largest electric vehicle market.Tesla Stock ForecastThere is certainly plenty going on in Elon's world to keep writing several articles. This is more tabloid fodder than actual stock market analysis, but Elon Musk is such a totemic figure that his life intersects with Tesla almost 100%. There is no separating the two. While this story has little to do with Tesla or the performance of the company, it will be used as another stick by bears.However, for now, those sticks may be getting shorter as TSLA stock has once again closed above our key $700 support. This is the key level. Friday sees a large options expiry, which coupled with position squaring ahead of the weekend should give stock markets a boost. $700 has been tested now on three occasions – the more a level is tested, the weaker it becomes. A break of $700 should see a sharp move to $620. Tesla (TSLA) stock chart, daily
Is Do Kwon going to get arrested after Terra's LUNA price collapse?

Is Do Kwon going to get arrested after Terra's LUNA price collapse?

FXStreet News FXStreet News 19.05.2022 16:32
Terra's LUNA price and UST suffered a colossal crash and lost over $39.2 billion in market cap, fueling outrage among holders. A Terra holder filed a police complaint against Do Kwon, revealing thousands of Singapore investors are victims of the death spiral. The Korean National Tax Service has imposed $78.4 million in corporate and income tax on Do Kwon and Terraform Labs. The collapse of Terra's LUNA price and algorithmic stablecoin TerraUSD (UST) has sparked outrage in the crypto community. Institutions and retail investors suffered significant losses when $40 billion in LUNA and UST’s market value was destroyed within a week. Do Kwon, CEO of Terraform Labs, is in the midst of all the anger, and legal issues are starting to surround him. Terra’s LUNA price death spiral The crypto community witnessed the first “crypto bank run” in history when both Terra's LUNA price and UST crashed, wiping out nearly $39.2 billion in market value within a week. UST, Terra’s algorithmic stablecoin, suffered a de-peg, losing its $1 parity, and is trading at $0.08 at the time of writing. Likewise, Terra’s native token LUNA plummeted from $77 to $0.000001 within a week. LUNA and UST three-day chart In a series of tweets, the Luna Foundation Guard revealed that it had transferred 52,189 BTC to “trade with a counterparty” as UST fell below its intended $1 peg. This was an attempt to reestablish the algorithmic stablecoin’s peg. Terra directly sold 33,206 BTC in a last-ditch attempt to defend UST’s peg, to no avail. Terra’s blockchain was halted several times on and thereafter, and LUNA and UST were delisted from multiple cryptocurrency exchanges, including Binance and Coinbase. LUNA and UST holders outrage Cryptocurrency investor forums on Reddit have noted the rising outrage against Do Kwon. A LUNA holder filed a formal complaint with the Singapore Police and referred to Terra's crash as a “cryptocurrency scam,” seeking justice for all affected investors. Meanwhile, another furious investor broke into Kwon’s appartment in South Korea looking for answers after the token spectacularly collapsed. Kwon’s wife has since reportedly been either placed in protective custody or is under police guard at her own request. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM Investors from different backgrounds have urged authorities to arrest Kwon, forcing South Korean lawmakers to summon the co-founder of Terraform Labs. Kwon would have to appear before the South Korean Congress and testify on the subject of the algorithmic stablecoin UST’s and LUNA’s collapse. Rep. Yoon Chang-Hyeon, of the South Korean People’s Power Party, addressed the collapse of Terra’s death spiral at a plenary meeting of the National Assembly's Political Affairs Committee on Tuesday. He said: We should bring related exchange officials, including CEO Kwon Do-hyung of Luna, which has become a recent problem, to the National Assembly to hold a hearing on the cause of the situation and measures to protect investors. Do Kwon under investigation According to the Korean National Tax Service, Kwon is currently under investigation for tax evasion after LUNA and UST collapsed due to a corporate and income tax burden of $78.4 million. Korean media's DigitalToday has obtained documents from the South Korean Supreme Court Registry Office that reveal Kwon decided to dissolve Terra's Seoul and Busan branches during its general shareholders' meeting on April 30. Following Do Kwon's decision, the Busan branch was liquidated on May 4 and Seoul branch on May 5. The documents carry Kwon Do-Hyeong's (official name of Do Kwon) name as the liquidator of Terraform Labs' offices. With the new findings, it has become clear that there is more to Terra's collapse than a coordinated attack or UST's de-peg. Kwon remains under suspicion in the investigation conducted by Korean authorities. Moreover, a specialized financial crimes unit in South Korea, the ‘Yeouido Grim Reaper’, has been tasked with the investigation of Terra’s collapse. The unit consists of 48 people made up of seven prosecutors and other executives from the Financial Services Commission and Financial Supervisory Service that have been called to investigate the methods by which Terraform Labs attracted investors to its tokens. The committee was disbanded two years ago but has been put back together to look into the events surrounding Terra’s demise and the extent of investor damage caused. Some win and others lose US asset management company Pantera Capital turned a $1.7 million investment in LUNA into $170 million by cashing out its investment well ahead of the crash. The institution, creator of the first blockchain hedge and venture funds in the US, did not suffer significant losses from Terra’s collapse as it pulled 80% of its investments out of LUNA over the last year. Apart from their LUNA investment, Pantera Capital had backed Terraform Labs, injecting $25 million in January 2021 and joining a $150 million fund round in July 2021. The firm recovered its investment before LUNA’s freefall to zero. Pantera Capital’s exit from LUNA is considered suspicious. Joey Krug, co-CIO at Pantera Capital, clarified that the institution purchased LUNA in the public market in July 2020, and not in a private financing round. Krug said, We managed that position down over time as it became increasingly profitable/large, in order to maintain a diversified portfolio. We initially invested in LUNA because of the progress we saw in developer adoption, the payments usage, and the broader ecosystem being built on Terra. Galaxy Digital, a US broker-dealer and another Terraform Labs investor, didn’t have the same luck. The firm started investing in LUNA in Q4 of 2020 and reported losses of $300 million for this quarter. In a letter, CEO Mike Novogratz told investors that: With our diversified business lines, Galaxy remains in a strong capital and liquidity position. We are well-positioned for long-term growth. Likewise, Binance had invested $3 million into the Terra ecosystem in 2018, receiving 15 million LUNA tokens. At LUNA’s all-time high, the investment was worth $1.6 billion. Yet due to last week's collapse of Luna, those 15 million LUNA tokens plummeted in value to just $3,400. Read next: Altcoins: What Is PancakeSwap (CAKE)? A Deeper Look Into The PancakeSwap Platform| FXMAG.COM A hard fork to create LUNA Classic and LUNA Core Do Kwon proposed the burning of UST, by increasing LUNA’s minting capacity from $293 million to over $1.2 billion. According to the Terraform Labs CEO, this is the only way to absorb UST’s supply and reestablish its peg. The plan was considered “high cost” for LUNA, UST holders and the Terraform Labs CEO faced criticism for the proposal. Kwon then focused on LUNA’s recovery without the algorithmic stablecoin UST. Since Terra’s ecosystem is not strong enough to build up and drive recovery in both Terraform Lab tokens, Kwon considered a practical and sustainable structure to preserve the developer ecosystem and the community. Kwon’s new and updated proposal suggests a fork in LUNA and the creation of a new Terra chain. The old Terra chain would be called Terra Classic (LUNC), while the new chain would be Terra (LUNA). The new chain would be fully community-owned, and the Terra Foundation wallet would be removed from the whitelist for the airdrop. Validators would reprogram the network ownership to $1 billion, distributing them to affected parties. 40% of the network’s ownership, $400 million would be allocated to LUNA holders (who held the token before UST de-peg). The hard fork offers to allay UST holders’ concerns by offering 25% at the Launch snapshot on May 27, 2022. 10% would be unlocked at genesis and the remainder would be unlocked over a period of two years. 25% would be reserved for the community pool. The co-founder of Terraform Labs believes Terra can recover from the coordinated attack by becoming a fully community-owned chain. Proposal 1623, the revival plan for LUNA without UST, has received 77.96% positive votes from the community. 1.39% of the community members abstained from voting. The whole crypto market bleeds After Terra’s LUNA and UST implosion, most crypto assets suffered heavy losses. Check out in this video what's next for Bitcoin! Follow FXMAG.COM on Google News
US Stocks: (WMT) Walmart misses the target as (TGT) Target stock suffers 1987-style collapse | FXStreet

US Stocks: (WMT) Walmart misses the target as (TGT) Target stock suffers 1987-style collapse | FXStreet

FXStreet News FXStreet News 19.05.2022 16:32
Walmart started the slide as it missed EPS on Tuesday. Target then suffered a collapse on Wednesday after it missed. Retail stocks led the entire market lower on Wednesday. First Walmart (WMT) and then Target (TGT) gave us exactly the picture that the retail sales number failed to do. Investors got somewhat excited as the retail sales number looked reasonably strong earlier this week. We had mentioned in our commentary that this was largely due to inflation, and it was a lagged report anyway. However, investors chose to take the positives. This optimism was dramatically ruptured on Wednesday when Target released earnings and went max bearish on costs and outlook. Walmart had teed this up Tuesday, but Target really rattled cages. Walmart Earnings Walmart's revenue number actually topped analyst estimates of $140.3 billion, coming in just over $2 billion ahead of analysts' estimate. Earnings per share (EPS) at $1.30 missed the expected $1.48. Margins were hit by rising costs and led Walmart's CEO to say, "US inflation levels, particularly in food and fuel, created more pressure on margin mix and operating costs than expected. We’re adjusting and will balance the needs of our customers for value with the need to deliver profit growth for our future." Walmart stock closed 11% lower on Tuesday, pretty bad but not even close to its competitor. Target Earnings Walmart put us on notice, but things were about to get really ugly. TGT stock fell the most since the 1987 Black Monday crash. TGT stock ended Wednesday down by 25%. Target also beat on revenue, $25.2 billion versus $24.5 billion expected. Earnings per share though also suffered from lower margins. Rising costs are again to blame here. EPS was $2.19 versus $3.06 expected. Profit margins fell to 6% from 8% previously. “We were less profitable than we expected to be, or intend to be over time,” CEO Brian Cornell said in a briefing. “Looking ahead, it’s clear that many of these cost pressures will persist in the near term.” Read next: Altcoins: What Is PancakeSwap (CAKE)? A Deeper Look Into The PancakeSwap Platform| FXMAG.COM As if things were not bad enough on Wednesday, another retailer cut guidance, citing costs and inflationary concerns. This time it was Bath & Body Works. This does at least set up a contrarian trade possibility for next week. More retailers report next week such as Costco (COST), Dollar General (DG), Best Buy (BBY) and Big Lots (BIG). We are at max bearishness for retail now. Any outperformance or bullish outlooks will see a massive rally in our opinion. The risk reward trade is skewed higher. We all expect more of the same. Walmart, Target Key Takeaways Consumer demand is solid. Both companies reported revenue ahead of analyst forecasts. The US consumer is still spending despite rising prices. So far so good. Target did say though that discretionary items saw less interest from consumers who chose instead to focus on lower ticket items. These carry lower margins for retailers. Despite spending holding up, we already are witnessing a shift in consumer spending patterns to lower-cost items. This will continue to hit margins going forward for retailers. Eventually, persistent inflation will lead to consumers cutting back on spending across all areas. Last week's consumer sentiment data from the University of Michigan showed consumer confidence at the lowest level since 2011. Consumers are spending for now, but they know what is coming. Target Stock Forecast Get ready for some serious range expansion. As the legend that is Stanley Druckenmiller puts it, when you get range expansion, the market is preparing for a move in that direction. Well off you go, next stop $100 with a stop at $125 on the way. This coming recession now looks more and more likely. Back in 2019 before the pandemic, Target was trading around $80 to $110. That was without a recession! Target (TGT) stock chart, weekly Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM Walmart Stock Forecast We can see our first target (excuse the pun) in the March 2020 area marked uncertainty and volatility. WMT will trade toward here. After that, it is less clear. WMT is the king of adapting to the market and to consumer demand. It may be better positioned than most to ride out the coming inflationary recession. WMT stock chart, daily
Why Ethereum price at $600 seems more plausible than $3,000

Why Ethereum price at $600 seems more plausible than $3,000

FXStreet News FXStreet News 18.05.2022 16:37
Ethereum price has flipped bearish from a macro perspective after creating a second lower low at $1,700.Investors should be prepared for a worst-case scenario that puts ETH at $600.A three-day candlestick close above $3,396 will invalidate the bearish thesis. Ethereum price is in a tough spot despite the recent crash and indicates that a further downtrend is on the cards. The case for a bullish trend will only be revived after ETH produces a higher high from a macro perspective. From a fundamental point of view, increasing competition has recently capped Ethereum blockchain upside, but user share dominance and further cycle improvements allow for high upside.Mixed views on Ethereum on "State of Crypto" reportWith this regard, in a recent report on the “2022 State of Crypto,” popular tech VC firm a16z outlined its views on Ethereum and its leadership. The report by the Sillicon Valley company states that "users are willing to pay an average of $15 million in gas fees per day despite the massive number of competitor blockchains." Additionally, this a16z report mentioned how this popularity is a “double-edged sword” as the Ethereum blockchain has always preferred decentralization over “security,” allowing other layer-2 scaling solutions to siphon its user share with the allure of “better performance and lower fees.”According to a16z, "other developers of blockchains like Solana, Polygon, BNB Chain, Avalance, and Fantom are angling for similar success."Ethereum price remains bearish on a higher time frameEthereum price set an all-time high at $4,868 on November 10, 2021 after a 579% year-to-date gain. This impressive rally faced two major sell-offs: the first crash pushed ETH down by 55% and set a swing low at $2,160. The second leg knocked the smart contract token by 52% and set a lower low at $1,700. This development since the all-time high is a clear indication of a downtrend with distinctive lower highs and lower lows. Since this trend is occurring on a macro time frame, it indicates that ETH and larger crypto markets are in a bear market.For now, the Ethereum price is bouncing off the $1,730 support floor which also happens to be the high volume node of the 2021 volume profile. While there is a pause from the sell-off, a failure to set a higher high could further trigger another crash that could shatter the $1,730 barrier. In such a case, ETH price could slide to the next stable barrier – $1,260, coinciding with 2021’s second high volume node. This is the second most significant level that could serve as a potential reversal zone with the ability to trigger an uptrend.While an upswing from this level might be possible, what lies below this level is extremely critical and is the best zone for dollar-cost averaging or buying spot ETH. Assuming sellers shatter the $1,260 barrier, the 2020 and 2021 volume profile shows that there is a massive gap extending from $911 to $595 – termed “The Void.”Within this area also lies the fair value gap, aka price inefficiency, that extends up to $661. Therefore, the confluence of these levels around $661 is where long-term investors could blindly accumulate ETH. This is because the risk of a sell-off around the levels mentioned is extremely low.ETH/USD 1-day chartSupporting this lower move in Ethereum price is the Net Unrealized Profit/Loss metric. This index is essentially the difference between ETH holders with relative unrealized profit and relative unrealized loss. Another way of understanding this metric is that it is the difference between the realized market capitalization and the actual market capitalization. The relative unrealized profit or loss is obtained by noting the difference between the unrealized spent transaction output (UTXO) and the value of the holdings at the current price level. As seen in the chart, the bottom for each cycle occurred when the NUPL dipped into negative territory. The 2018 and 2019 bear markets bottomed when the NUPL was between 0 to -1. Currently, the NUPL for Ethereum price is hovering around 0.19, which indicates that a further descent in price action is likely.ETH NUPL Lastly, the Market Value to Realized Value (MVRV) Z-score for Ethereum also supports the idea of a steeper correction. This on-chain metric is used to assess when Ethereum is over/undervalued relative to its "fair value.” Based on historical data, the green band, extending from 0 to -0.61, is where ETH bottomed before in 2016 and where the altcoin is highly undervalued or at a discounted price. Likewise, the red band, extending from 7 to 8.5 is where historical tops are formed and is when the ETH is highly overpriced or at a premium. Therefore, a dip into the green box would be a buy signal and a move into the red box would present a sell signal.For Ethereum, the MVRV Z-score is hovering at 0.19, indicating that the price of the second-largest cryptocurrency should dive deeper to signal "buy". Interestingly, both the on-chain metrics are perfectly aligned with the technical outlook, which suggests a steeper correction still to go for the smart contract token.ETH MVRV Z-scoreDespite the extremely bearish outlook for Ethereum price, it makes sense from a macro perspective. Moreover, Bitcoin price also reveals its pessimistic narrative which aligns perfectly with ETH’s future. If Ethereum price produces a three-day candlestick close above $3,396, however, it will indicate a higher high from a macro perspective. This move would invalidate the bearish thesis and suggest the possibility of an uptrend to retest $4,000 or higher levels.You can watch more on this Ethereum price technical perspective on the following clip:
Apple Stock News and Forecast: Michael Bury and the big short on AAPL

Apple Stock News and Forecast: Michael Bury and the big short on AAPL

FXStreet News FXStreet News 18.05.2022 16:37
Latest hedge fund filings show Michael Burry takes a bearish position on Apple.FXStreet has a $120 price target on AAPL, well below the Wall Street average.Apple supplier Foxconn has warned of a revenue drop.Apple (AAPL) stock recovered some recently lost ground on Tuesday as the broader market finally began its long-awaited recovery. Comments out from Fed members on Tuesday night indicate that the Fed aims to go fast and furious, but then come late summer or September the central bank may begin to pare back the speed of rate hikes to 25 basis points. That has kept bond yields in check, which should help the Nasdaq in particular. Regardless the Nasdaq notched up an impressive gain of nearly 3% on Tuesday, and Apple tacked on a much-needed gain of 2.5% to close at $149.24.Apple Stock NewsWe are one of the most bearish forecasts out there for Apple with our $120 price target that we put on the stock back in April. The average price target from Wall Street is $189. However, we received some backing over the weekend with the release of the latest 13f hedge fund filings. While Apple remains top of the pile for Warren Buffet Berkshire Hathaway (BRKB) famed investors Michael Bury has taken a bearish position on Apple (AAPL) stock. Michael Bury's Scion Asset Management has taken out a put position on 206,000 Apple shares according to the latest filings. Apple is down 16% year to date. Foxconn one of Apple's major supply partners recently warned on revenue forecasts as it said inflation was hitting demand for lower price point electronics but had not yet filtered through to the upper end of the market. Foxconn's CEO also said demand in China has slowed due to lockdowns. China is a massive market for Apple. Adding to the bearishness is Apple has now officially lost its throne as the world's most valuable company to Saudi Aramco. Surging energy prices have boosted the energy sector while as mentioned Apple has slumped 16% this year in a tech sell-off. It's not all bad news however as Dan Ives from Wedbush names Apple as one of the top picks for a recovery in the tech sector.Apple Stock ForecastA beautiful playbook so far with Apple retreating and bouncing from key support at $138. The bearish pivot is at $171.40, so there is room for this rally to grow legs, but it is unlikely to breach that level. If Apple does, then all bets are off and we turn bullish. $120 remains our target being the value area from last summer that allowed Apple to consolidate for a move higher.Apple (AAPL) stock chart, daily
Forget about the crypto winter; Bitcoin price readies to kick start the summer rally | FXStreet

Forget about the crypto winter; Bitcoin price readies to kick start the summer rally | FXStreet

FXStreet News FXStreet News 17.05.2022 16:35
Bitcoin price sees bulls popping back above $30,000 as it reclaims an important psychological area. BTC price is set to break above the high of last week and could rally to $36,709.19 by the end of this week. Expect to see a continuing rally with all stars aligned towards $44,088.73. Bitcoin (BTC) price sees bulls returning to the scene to pick up the pieces from the scattered BTC price that saw slaughter in the past trading days. BTC price quoting at a lucrative discount has made the asset attractive for cherry-picking traders and investors. With the Relative Strength Index (RSI) showing that Bitcoin still has a heartbeat, expect to see a full recovery towards $45,261, claiming back some critical levels in the process. BTC price set for complete recovery as heartbeat strengthens on the RSI Bitcoin price is showing signs of recovery after it took a beating for over two whole trading weeks. The most significant catalyst in that case was the dollar and its impact on BTC price. With the balance outweighing, in favour of the mighty dollar, BTC price is currently trading at a very nice discount. Should Bitcoin price drop below $30,000 somewhere this week, expect it to be scooped up quite rapidly and to quickly trade higher as the RSI is leaving the oversold area, proving that demand is there. BTC price thus sees investors and traders returning after a short hiatus as the dust settles over a few risk events, and some tail risks have gotten deflated. Hand in hand with that, the dollar is backing off, allowing some room for Bitcoin price to trade higher, with $36,709.19 acting as a line in the sand for this week. In case we see a weekly close above there, expect to see a rally next week towards $45,261.84, on the way up to the 200-day Simple Moving Average. BTC/USD daily chart Investors could be hesitant to pick up BTC prices after the image of cryptocurrencies got dented last week with Terra’s LUNA crash. Lack of interest could trigger a rejection at the first big hurdle at $31,321.98. Bears will probably use that level as entry to push price action back down and break below $30,000.00 again. As the price trades sideways, the risk is that interest fades and BTC price slips below $28,695 to test $24,000 to the downside.
Terminal rate spook, crypto dissolve, and Netflix credit warning | Saxo Bank

AMC Entertainment Stock News and Forecast: Is it time to give up?

FXStreet News FXStreet News 17.05.2022 16:35
AMC stock has cratered this year, down 56% in 2022. AMC stock is losing followers as the retail army takes heavy losses. AMC shares should rally toward $20, but that is likely to be it. AMC stock (AMC Entertainment) is trying to recover ground on Tuesday as equity markets gather themselves ahead of Fed Chair Powell's speech later on Tuesday. Prior to that, we get US retail sales, which will show how the consumer is reacting to raging inflation. Given that the jobs market is hot right now, we feel retail sales should hold up and that could ignite a mini bear market rally. The sentiment is about as bearish as can be, and that often leads to strong counter-trend rallies. AMC Stock News AMC posted pretty weak earnings for the last quarter. AMC is in a tough spot. It has too much debt: way, way too much debt. This is not the time for that with rising interest rates. AMC's debt is flashing default warnings. Its June 2026 bond is trading at 69 cents on the dollar. In January it was trading at par (100). Generally, this is a strong sign that investors are not confident in repayment. The bond is yielding a whopping 21.6%. That is the risk-reward required to entice buyers of that bond. In 2026, AMC has loans of just under $1.7 billion that will need repaying. Where is that cash going to come from? You want to refinance the debt at 21%? Good luck with that. Maybe you can persuade some of those AMC apes to take yet another share dilution and issue stock. Again, good luck with that. They finally copped on and rejected the last proposed share dilution. "That is three years away," I hear you say. Yes, but with a recession now looking odds on, it is unlikely AMC is going to improve its cash position between now and then. In fact, the company is still losing plenty of money and has over $500 million in refinancing costs due next year. Uh oh! At the latest earnings presentation, CEO Adam Aron was notably bullish. He highlighted advancements into NFTs and crypto. Great timing there! Everyone always points out how much cash AMC has managed to raise and how much it has on the balance sheet. Over $1 billion, I hear you say. From the AMC CFO at the most recent earnings call last week: "Operating cash burn representing cash burn before debt servicing costs and before deferred rent payback was $223.9 million, and this compares to $321.6 million in Q1 of 2021. Looking ahead, we expect our cash burn to improve sequentially through the year, with Q2 being better than Q1, but still relatively weak." Burning $223 million per quarter before servicing debt and paying rent! Are you kidding me? That gives it barely a year. To give some credit, AMC just got its $950 million in 7.5% notes out the door before the credit market tightened. Given we just outlined where the 2026 bond is yielding, it was perfect timing. AMC owes $272 million in deferred rent. Given the pressure on all sectors of the economy, that is likely to not be deferred for too much longer. The CFO also commented on the investment in Hycroft Mining (HYMC): "We recorded a mark-to-market gain of $63.9 million in the first quarter of 2022. This is based on the share price of Hycroft on March 31." Since March 31, HYMC stock has nearly halved from $2.30 to $1.34. AMC Bond 2026 Yield-Refinitiv AMC Stock Forecast No point in even considering an investment in this one, but for short-term trading it can work or break you. It is highly volatile and should outperform in any market rally and consequently underperform on the way down. Just bear that in mind. AMC stock chart, daily
Can Terra’s LUNA recover and reach $120 again?

Can Terra’s LUNA recover and reach $120 again?

FXStreet News FXStreet News 16.05.2022 16:09
LUNA price plummets nearly 38% despite a 200% increase in trade volume. Do Kwon, CEO of Terraform Labs, has written a proposal to fork LUNA to a new chain with a cap of 1 billion coins. Binance CEO CZ believes Do Kwon’s plan to save LUNA will not work as forking does not add value to the new fork. Do Kwon’s proposal to fork Terra’s LUNA to a new chain has received criticism from Binance CEO and cryptocurrency proponents. The Luna Foundation Guard has spent $3 billion stabilizing TerraUSD’s peg, however, UST has failed to recover. Terra’s LUNA struggles to recover despite forking plan The Luna Foundation Guard has spent billions of dollars reinstating TerraUSD’s (UST) peg. However, UST price is struggling to make a comeback. At the time of writing, UST is priced at $0.082, 91.8% lower than its $1 peg. Do Kwon, the CEO of Terraform Labs, came up with a recovery plan for Terra’s tokens. The Luna Foundation Guard Council proposed forking LUNA to a new chain, using a snapshot from before the attack on the blockchain. The recovery plan proposes a cap of 1 billion coins, where 900 million tokens of the new chain are set aside to be returned to LUNA and UST holders from before the de-pegging event and chain hold, and the last 100 million tranche is to be staked at the network genesis state. Proponents criticize Do Kwon’s plan for LUNA recovery Changpeng Zhao, CEO of the world’s largest cryptocurrency exchange, Binance, critiqued Do Kwon’s recovery plans and revealed that he does not believe that LUNA can recover and make a comeback to $120. Zhao stated that, This won’t work. – forking does not give the new fork any value. That’s wishful thinking. – one cannot void all transactions after an old snapshot, both on-chain and off-chain (exchanges). On behalf of Binance, CZ asked the Terra team to compensate retail users first and supported the prioritization of the smallest wallets with UST deposits on Anchor. Binance has nearly $1.6 billion tied up in LUNA’s collapse. Kwon has requested community members for patience as Terraform Labs works on multiple tasks to stabilize UST, repeg it and drive a recovery in LUNA. Still, the CEO of CryptoQuant revealed that market maker(s), including the ones hired by LFG, sent 84,000 BTC, equivalent to $2.5 billion, to multiple exchanges last week. It is unclear whether the BTC tokens were sold, but it is likely that Coinbase digested a majority of the selling pressure and efforts to recover algorithmic stablecoin UST failed. Larry Cermak, VP of research at IntoTheBlock, pointed out that LFG has gone from $3.1 billion in its reserves a week ago to $87 million now as the non-profit organization spent nearly $3 billion on defending UST’s peg. Despite the efforts, the stablecoin collapsed. VisionPulseTrades evaluated LUNA price trend and revealed that if the bottom is in, LUNA needs to gain confidence among investors to begin a trend reversal. If so, the next bullish target for is capped between $0.00025 and $0.00033. A recovery to $120 is therefore unlikely for LUNA, as VisionPulseTrades emphasizes the demand for the token comes from investors expecting a recovery and a purchase of Terra by the LFG. Terra LUNA's collapse dragged the whole crypto market After Terra LUNA's implosion, most crypto assets suffered heavy losses. What's next for Bitcoin?
US Dollar To Japanese Yen (USD/JPY) Forecast: Three reasons to sell the pair as the tides turn against it | FXStreet

US Dollar To Japanese Yen (USD/JPY) Forecast: Three reasons to sell the pair as the tides turn against it | FXStreet

FXStreet News FXStreet News 16.05.2022 16:09
The yen has returned to attracting safe-haven flows as China's covid crisis intensifies. Fear of a Fed-fueled recession is pushing 10-year Treasury yields lower. Technicals are pointing to a clear peak and a clearer downtrend. USD/JPY bearish – there are good reasons to expect the currency pair to fall, and the trade seems more straightforward than other ones. *Note: This content first appeared as an answer to a Premium user. Sign up and get unfettered access to our analysts and exclusive content. 1) When things go wrong in Asia, buy the yen The yen benefits from safe-haven flows related to China's aggressive policies against covid. Lockdowns in Shanghai and Beijing, the world's second-largest economies largest and most important cities, are hurting the economy. Recent retail sales figures showed a plunge of 11.1% YoY in April, nearly double the early expectations and a sign of falling demand. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Not only consumption is dropping. Industrial output also badly missed estimates with a fall of 2.9% YoY, worse than the 0.5% increase projected. Japanese investors are repatriating investments in China and other places in Asia. The yen's status as a safe currency is mostly seen when there is trouble in its own continent. 2) The wrong yields are rising The second reason for the USD/JPY decline – and the potential for more – comes from the US. The Federal Reserve's aggressive policy of raising interest rates has been positive for the pair, especially as it contrasted with the Bank of Japan's dovish policy. However, there can be too much of a good thing. Read next: (TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network | FXMAG.COM While short-term Treasury yields continue rising – reflecting expectations for higher inflation and higher borrowing costs – the part that is relevant to USD/JPY is turning south. Returns on 10-year bonds have declined from their peak above 3% as investors begin pricing in growing chances of a recession. Lloyd Blankfein of Goldman Sachs said it is "a very high risk" and that consumers and businesses should get ready. That prophecy may be self-fulfilling. 3) Technical decline Third, the technical tide has turned against the pair. It has begun trading in a downtrend channel, with lower highs and lower lows. Momentum on the 4h-chart has turned negative, the RSI has failed to climb above the 50 level, and the price is capped at the 100-SMA – after falling below the 50-SMA. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM Support is at 128.70, which cushioned the pair twice in May. The monthly low of 127.50 is the next level to watch, and it also converges with the 200-SMA. Further down, 126.90 and 126.40 are noteworthy. Resistance is at 1.2950, and then at 130.90. Final thoughts The list above provides ample ammunition for bears, and bulls may need to cling to hopes for further yen-printing from the Bank of Japan – a highly unlikely scenario given the current, already extremely loose monetary policy.
Promised Land Art Festival Returns! Tickets Now on Sale; First Speakers Announced | CD PROJEKT RED

Meme Stocks: GameStop Stock News and Forecast: GME stock rallies, but for how long?

FXStreet News FXStreet News 13.05.2022 13:55
GameStop stock rallies sharply on Thursday to close up 10%. GME and other meme stocks stage what looks to be a bear market rally. GME stock is still down sharply this year, so a turnaround looks unlikely. Meme stocks rallied sharply on Thursday as some form of stabilization returned to markets with a strong turnaround into the close. The main indices were looking at another round of 2% losses before a late rally saw most nearly make it back into positive territory. In the end, the Nasdaq lost 0.18%, and the S&P 500 only 0.13%. The most notable feature though was the performance of the riskier side of the market. GameStop (GME) was up 10% but was not alone. Other notable meme stocks also made similar advances: AMC +8%, LCID +13%, RIVN +18%, RBLX +19%, etc. GameStop Stock News "Buy the dip" worked so well for the past two pandemic field years that it is hard to let a good thing go. This is exactly what happened on Thursday across the meme stock space with retail investors flooding back into the market. We must urge caution though. This is not 2020 or 2021. The Fed no longer has your back. The Fed wants equity markets and risk assets lower. It has more or less explicitly said so, and rallies are to be used for quick in-and-out swing trades, not to buy and hold again. Those days are long gone. Financial conditions are tightening and will continue to tighten. Bear market rallies can be powerful, but they are bear market rallies. We alluded to this move in our GME piece on Thursday: "There may be some element of a silver lining as GME is oversold on both the Relative Strength Index (RSI) and the Money Flow Index (MFI). We may get a pop or bear market rally, but make no mistake, this is not going to the moon any time soon." We stand by that assessment. This rally should extend for most of Friday, but the weekend is no time for holding a long position in this current environment. Mondays are one of the worst days in stock market performance, and this bear market is set to resume shortly. GameStop Stock Forecast Another feature that we noticed from a lot of meme stocks on Thursday was that they put in a much higher high than the closing price. This is the complete opposite of what the main indices did. GameStop stock spiked up to $108 but closed at $89. That is a bit concerning. Momentum was not maintained. We expect the stock to rally again on Friday though as overall the main indices should recover some ground. $108 is the 9-day moving average, and above $118 is strong resistance going back to April 2021. We would not expect the rally to extend beyond here. GME stock chart, daily
Altcoins: (SHIB) Shiba Inu’s recovery is staggering, but one swallow does not make a summer | FXStreet

Altcoins: (SHIB) Shiba Inu’s recovery is staggering, but one swallow does not make a summer | FXStreet

FXStreet News FXStreet News 13.05.2022 13:53
Shiba Inu price is set to rebound back to either $0.00001400 or $0.00001708. SHIB price is still under plenty of bearish pressures as the downtrend is nowhere near an end. The current turmoil in stablecoins is negatively impacting cryptocurrencies, setting the scene for SHIB to drop towards $0.00000655, breaching $0.00001000. Shiba Inu (SHIB) price is recovering a bit after it incurred massive losses and instead looked like a wounded deer that has its life hanging by a thread. It is not just the dollar strength and the correction in the stock market but also the weak point in cryptocurrencies that have been exposed in total, with Tether and Stablecoins questioning their credibility. An existential crisis is not yet in the making, but once SHIB price dips below $0.00000655, a total liquidation could be at hand. SHIB price has the world questioning who will step in to catch the first domino falling Shiba Inu price is falling off its pedestal, and saw a massive outflow of capital these past few trading days. Although the markets look set to close the week by paring back some losses or even possible small gains, that does not mean that all is forgiven. Where investors and traders are always happy to buy the dip, SHIB price is not seeing a volume return. SHIB price has that massive headwind blowing in its face after more questions are raised on Tether and Stablecoins. Since those are all privatised firms and enterprises, not providing any detail on their balances (as apparently, they are afraid to give away the secret sauce), at any moment now, one Stablecoin could default, triggering a massive domino-effect with no failsafe system as there is not one central bank mandated to intervene and stop the next domino from falling. With that reassessment of risk, SHIB will need to correct further and is set to be rejected around either $0.00001400 or $0.00001708 and see bears using those handles to push the price to the downside near $0.00000655. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM SHIB/USD daily chart On the upside, only breakthrough headlines can save the day for now On the upside, only breakthrough headlines can save the day for now, with either headlines that a peace truce has been reached between Russia and Ukraine or that inflation is slowing down across the globe. Once some positive headlines cross the wires, expect SHIB price to pierce through the recent supports turned into resistance and break above $0.00001708. A pickup in buying volume could be seen with renewed trust, resulting in SHIB ticking $0.00002282 with the green ascending trendline, the 55-day Simple Moving Average and the monthly pivot as a triple cap to the upside. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM
Tech Stocks: Tesla Stock News and Forecast: As TSLA struggles, will the TWTR deal still go ahead at $54.20?

Tech Stocks: Tesla Stock News and Forecast: As TSLA struggles, will the TWTR deal still go ahead at $54.20?

FXStreet News FXStreet News 12.05.2022 16:35
Tesla stock falls just over 8% on Wednesday. Twitter stock also falls and is now nearly 20% below its takeover price. TSLA still holding above $700 key support. Tesla (TSLA) stock suffered another humbling day on Wednesday as it yet again suffered more steep losses. As the broader equity market appears to crash, so too does the Tesla share price. This time it dropped by 8% to trade into the low $700s. $700 was the low seen back in February when market panic sold the Ukraine invasion news. Since then Tesla has recovered and held up well. Part of this was the reasonably good earnings quarter it posted. Now though a combination of macro factors and the Twitter (TWTR) deal are weighing on the stock. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM Tesla Stock News The latest Tesla recall news hit yesterday, and that certainly helped the stock underperform all the main indices. Tesla has had to recall 130,000 vehicles due to CPU problems affecting the central display unit. There have been a number of recalls for Tesla vehicles this year, none of which seems to have hindered the share price. But this environment has turned more bearish, and any bad news is seized upon. This week we also have had news of a supply problem hindering production at Giga Shanghai, which comes just days after getting the factory back online after covid lockdowns. Adding to pressure on Elon Musk but not directly attributable to Tesla is a report from The Wall Street Journal saying that Elon Musk is facing a federal probe over delays in his filing for his initial stake in Twitter. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM We also note a report from Bloomberg saying smaller investors and hedge funds will get the chance to invest in the Twitter acquisition by way of special purpose vehicles that pool money together. The minimum investment is $5 million. This is not reassuring in our view. Still scrambling around for investors at this late stage in this type of market does not inspire confidence in the deal going through in its current guise. Hindenberg Research also released a report outlining similar concerns last week. Tesla Stock Forecast $700 remains the key support and target for now. As long as this holds then, there is the chance of a strong bear market rally. But it likely is getting too close for comfort now and should be triggered today. That level most likely has stops just beneath, so it could spike lower on a beak. That would then be the time to reassess. Both the Money Flow Index (MFI) and the Relative Strength Index (RSI) are close to oversold, and a break of $700 could put both into oversold territory. Breaking $700 brings $620 as the next support. Resistance and the bullish pivot is all the way up at $945 now. Read next: Where XRP price could bottom and how to reenter the market| FXMAG.COM Tesla (TSLA) chart, daily
XRPUSD technical analysis for June 28, 2022.

Altcoins: Where Ripple (XRP) Price Could Bottom And How To Reenter The Market

FXStreet News FXStreet News 12.05.2022 16:35
XRP price is hovering around the $0.395 weekly support level, trying to discern the directional bias. A breakdown of this barrier could knock Ripple by 50% to the volume point of control at $0.186. If buyers manage to recover above the $0.621 barrier, it will invalidate the bearish thesis. XRP price shows an interesting outlook as it crashes below multiple support levels on a weekly time frame. This bearish outlook is inescapable as the LUNA-UST kingdom collapses. The domino effect is not just felt by BTC but also by the entire ecosystem. Despite the brutality witnessed over the past week, more could be around the corner, which could drive Ripple further down. XRP price at make or break levels XRP price has been producing lower highs since April 12 swing high at $1.96, with the swing lows forming a base around the $0.621 support level. This consolidation was seen for over a year before a decisive breakdown was seen in the second week of May. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM Since then, XRP price has crashed 32% to where it currently trades at $0.382. The massive downturn comes as the entire crypto market is in a selling frenzy after the 98% crash in LUNA price due to the instability of the UST peg. While the $0.395 weekly support level seems to have it under control, things are not as simple as they seem from the outside. As Bitcoin hovers around $28,200, the chances of a relief rally are high, especially since it has dipped into most of the 2021 liquidity pools. However, a further descent in the big crypto’s market value will cause XRP price to shatter the aforementioned support level. The remittance token could then crash by 53% to retest the volume point of control at $0.186 for the price action since 2017. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM This point is where the highest volume for XRP price was traded since 2017, making it a critical inflection point. Thus, the $0.186 level will likely serve as stable support and see accumulation come into the picture. Regardless, the point still stands – a 50% crash is on the cards for XRP price if it fails to hold above the $0.395 foothold. XRP/USD 1-week chart Further representing the grim and oversold nature of XRP price is the 365-day Market Value to Realized Value (MVRV). This on-chain metric determines the average profit/loss of investors that purchased XRP over the past year. A negative value indicates that the market participants are at a loss and are less likely to sell, representing an opportunity to accumulate for long-term holders. Historical data notes that the recent sell-off for XRP price puts the 365-day MVRV at -53%. These levels were last seen in October 2015, when Ripple was hovering around $0.0046. This outlook represents the massively unprecedented sell-off and, from a long-term perspective, could be a good place to accumulate. Still, a further crash in Bitcoin price could completely annihilate the current support level and knock the remittance token down by 50% XRP 365-day MVRV It is worth noting that if the bulls manage to kick-start a recovery at $0.395, pushing Ripple toward $0.621, it may encourage sidelined investors to reenter the market. Under these conditions, buyers would have to push XRP price above the $0.621 barrier on a weekly chart to invalidate the bearish thesis. This development could propel the remittance token to sweep the $0.917 equal highs formed on February 7 and March 28.  
WTI rallies back to $105.00s from brief dip under $100 as focus returns to geopolitics

WTI rallies back to $105.00s from brief dip under $100 as focus returns to geopolitics

FXStreet News FXStreet News 11.05.2022 16:44
Oil is on the front foot on Wednesday with geopolitics in focus amid disruption to gas flows to Europe via Ukraine.WTI has rallied nearly $6.0 on the day to the $105.00s, though is still down over $5.0 on the week.Global oil prices, though still substantially lower on the week, have seen solid gains on Wednesday, with front-month WTI futures posting an aggressive recovery from earlier session lows underneath the $100 per barrel mark. WTI is now trading above the $105.00 level, still about $5.0 below earlier weekly highs, but up nearly $6.0 on the day.The ongoing downturn in global equity markets (led by US tech) as investors fret about central bank tightening amid still sky-high inflation and a slowing global growth impulse can be attributed as causing the pullback from recent highs above $110. But fears about supply shortages as a result of the Russo-Ukraine war continue to entice dip-buying upon retests of the $100 level.Those fears have been in focus in recent weeks as the EU wrangles its way closer to an agreement on a ban on all Russian oil imports, a move that commodity strategists think would be devastating to the country’s producers. Hungary is for now blocking a final deal on the embargo, the latest reporting on the issue suggests, but it seems a compromise is soon likely to be reached.Meanwhile, gas flows to Europe via Ukraine have been disrupted for the first time amid alleged interference in a major transit route by occupying Russian forces (so Ukraine says), marking the first disruption to gas flows in the country since the war started two and a half months ago. This is likely also to be giving oil markets some support on Wednesday.WTI bulls will be hoping for a retest of recent highs above $110 in the coming days, though so long as broader risk appetite remains on the ropes, this will be a difficult task to manage. In the immediate future, crude oil traders will be monitoring official weekly US crude oil inventory data out at 1530BST after private weekly inventory data on Tuesday showed a surprise build.
What Is The Future Of Modern TAXIS? Uber Stock News and Forecast: UBER CEO buys stock, should you? | FXStreet

What Is The Future Of Modern TAXIS? Uber Stock News and Forecast: UBER CEO buys stock, should you? | FXStreet

FXStreet News FXStreet News 11.05.2022 16:44
Uber stock under pressure after dismal earnings earlier this week. UBER stock is down 44% so far in 2022. Uber CEO just bought 200,000 shares for $5.3 million. Uber (UBER) stock remains mired in depression with bears in total control after earnings earlier this week. The company unveiled a massive loss that led to CEO David Khosrowshahi penning a letter to employees to explain the earnings and what he feels needs to be done to secure the future of the ridesharing company. Uber Stock News: A loss is a loss First, here is a quick recap on those earnings numbers. Earnings per share (EPS) came in at $-3.04 versus a $-0.24 estimate. Revenue came in at $6.85 billion versus estimates of $6.13 billion. First, the earnings per share number is not really comparable as it includes losses in UBER's equity investments related to stakes in Didi (DIDI), Aurora and Grab. I never really pay attention to statements such as the one I just made, not comparable. A loss is a loss. It does not matter how you phrase it. It is not a loss attributable to regular operations, however, but it is still a loss. It affects cash flow, balance sheet, etc. IT IS A LOSS. Wall Street analysts – let's get this straight. UBER lost $5.9 billion for the quarter. Read next: Don't Worry Coffee Lovers! The Price Of Coffee Futures Falling Amidst Current Market Conditions, Crude Oil (WTI) Recovers Slightly, Palladium Prices Show Steady Downward Price Trend | FXMAG.COM Revenue beat estimates, but what is Uber doing with that money? They invested it and lost $5.6 billion. Well done. UBER CEO David Khosrowshahi then said in a letter to employees, which CNBC got a hold of, that the company would cut back on spending and hiring. Peer LYFT had also produced downbeat forecasts for the ride-hailing sector. Despite it all though Uber CEO David Khosrowshahi has put his money on the table and stumped up $5.3 million for some UBER shares this week. Usually, insider purchases are more significant than insider sales, and this is not a small amount. Although we should note, he does not have a great track record. Previously, he bought shares at $44.92, so nearly a 50% loss then! Read next: Earnings Season: (DIS) Disney Stock Price Awaits Earnings Announcements| FXMAG.COM Should you follow him? Difficult call. We are not as bearish on UBER as some other stocks that soared too high, but UBER is a play on the broad economy. It needs economic activity to remain strong to benefit. If people pull back on spending, UBER will be one of the first things to suffer. Certainly in the short term, we view the risk-reward as being slightly more skewed to the upside now. The bad news is largely in the price, and we may see a short-term bounce if today's CPI is in line. Uber Stock Forecast $28.41 remains our key level and is our bearish pivot. UBER returns to neutral above this level. Both the Money Flow Index (MFI) and the Relative Strength Index (RSI) are showing oversold levels, further strengthening our arguments for a short-term relief rally. UBER stock chart, daily
Podcast: BoJ losing control. Geopolitical risks for Tesla

Skyrocketing US Dollar (USD) Can Be Even More Boosted! US CPI Preview: Hard core inflation to propel dollar to new highs, and two other scenarios

FXStreet News FXStreet News 10.05.2022 16:50
Economists expect core US inflation to have risen by 0.4% MoM in April, a dollar-supportive figure. A repeat of March's 0.3% gain would sink the greenback on talk of "peak inflation." Conversely, an increase of 0.5% in underlying prices would put a 75 bps rate hike firmly on the table. Is that the peak over there? That question for mountain climbers resonates with investors, who are eager to see where inflation reaches its limits. The longer the fog continues, the longer the bloodbath in markets. For the dollar, it is a boon. The greenback's next significant moves hinge on the Core Consumer Price Index (Core CPI) which is projected to have risen by 0.4% in April and 0.3% in March. That surprisingly low figure in the previous month fuels hopes for a lower read this time and a light at the end of the tunnel for stock traders. I will argue that this light is only a fleeting glimpse. Why it matters First, why is Core CPI more important than headline CPI? While Americans undoubtedly consume gasoline and food, these items' prices are volatile and the Federal Reserve has little impact on them. These are mostly supply-side issues driven by global forces such as Russia's war in Ukraine and OPEC+ petrol output. The dollar moves to the tune of the Fed's interest rates. What the Fed can significantly impact is demand – if it raises interest rates, consumers are motivated to save money rather than take loans to make big purchases. It has vowed to bring inflation down with higher borrowing costs – and it can afford to do so. The latest jobs report showed a tight labor market. Employment has room to climb down from the highs. Why are monthly figures more important than yearly ones in the upcoming release? In the upcoming annual calculation, April 2021 will be omitted to include changes seen in April 2022 – and that month was different. Stimulus bump: Source: FXStreet At this time last year, inflation jumped due to the one-off effects of the rapid reopening of the economy and stimulus checks, while April this year was already a normal month. Core CPI leaped by 0.9% in April 2021 and no economist expects a similar rise this time. That is why annual figures are set to fall significantly, putting the focus on monthly data. Expectations and reactions 1) Core CPI at 0.4% as expected: As I have mentioned, estimates stand at a 0.4% increase in Core CPI MoM and every tenth of a percent matters. This is the most likely scenario and is a dollar-positive one. The 0.4% estimate comes after economists had missed last month's figure by 0.2%, so they are likely more cautious this time around. On an annualized basis, it would reflect a rise of almost 5%, substantially above the Fed's 2% target. It would also be higher than the 0.3% level recorded in March and would label that figure as a one-off slow down in price rises. In other words, peak inflation would remain a mystery. At the time of writing, bond markets foresee a 95.9% chance of a 50 bps hike. That may change. Source: FXStreet For the dollar, it would extend the greenback's rise – give it a green light to move higher after the pause in recent days. This scenario has a high probability. 2) Core CPI at 0.3%, below expectations: This scenario is based on the fact that persistently high energy prices have left less money in Americans' pockets for other goods and services, alleviating price pressures. It is also backed by the slowdown in monthly Average Hourly Earnings for April– 0.3% vs. 0.4% expected – but these monthly changes are prone to revisions. March's wage figure was revised up. Nevertheless, if America records two consecutive months of 0.3% underlying inflation rises, it would strengthen the Fed's conviction of raising rates by only 50 bps in June, lowering the chances of a bigger 75 bps increase. That would hurt the dollar and this scenario has a medium probability. An even bigger downfall with 0.2% would already put "peak inflation" high on the agenda, but the chances are low. 3) Core CPI at 0.5%, above expectations: This figure beat estimates in three of the past six releases, so an upside surprise cannot be ruled out. I will stress again, that it is only a tenth of a percentage point, but one that can make a big difference in the dollar's direction. Latest Core CPI outcomes: Source: FXStreet Such an outcome could represent a catch-up in price rises after the relative slowdown or could be boosted by one-off factors. For the dollar, it would represent a considerable shot in the arm, propelling it higher. Bond vigilantes would begin circling around a 75 bps hike once again. This scenario has a lower probability. Final thoughts The Fed is focused on inflation, not employment, and every tick in underlying prices would have an outsized impact on markets. The base case scenario is of ongoing high inflation – an ongoing hawkish approach by the world's most powerful central bank – and a driver of further dollar gains.
Is Crypto Market Crash Coming? Where to exit (ETH) Ethereum before it crashes to $1,700

Is Crypto Market Crash Coming? Where to exit (ETH) Ethereum before it crashes to $1,700

FXStreet News FXStreet News 10.05.2022 16:50
Ethereum price bounces off the $2,200 support level after a 12% crash over the last three days. Investors can expect a retest of $2,541 before ETH crashes to $1,730 to collect the sell-stop liquidity. A three-day candlestick close above $3,079 will invalidate the bearish thesis by producing a higher high. Ethereum price has sealed its bearish fate after breaching the consolidation pattern’s lower trend line on May 6. This development has worsened the situation and caused a steep correction for ETH. Ethereum price provides an opportunity Ethereum price set three distinctive higher lows and two higher highs since the January 22 crash. Connecting the swing points using trend lines reveals an ascending parallel channel. This technical formation ideally results in a bearish breakout On May 6, Ethereum price breached the ascending parallel channel’s lower trend line, indicating a breakout. This downswing move caught traction and led to an 18% drop in ETH price in less than a week. At the time of writing, Ethereum price is trading around the $2,199 support level, where buyers seem to be scooping ETH up at a discount. However, considering where Bitcoin price stands, further downside seems more likely. Hence, investors need to be cautious and smart in buying the dips. There might, however, be a minor uptick in buying pressure that could push Ethereum price up to the $2,541 hurdle. This level is likely where the upside is capped for ETH before sellers take control. ETH/USDT 1-day chart Supporting this downswing in Ethereum price is the 30-day intraday Market Value to Realized Value (MVRV). This on-chain metric is used to determine the average profit/loss of investors that purchased ETH over the past month. Based on Santiment’s research, a value ranging from -10% to -15% is termed an “opportunity zone,” since the short-term holders are at a loss and are less likely to sell. However, for ETH, the local base was formed around -16%, which is where the MVRV is currently at and also explains the recent uptick in buying pressure. However, there is another potential base around -30%, where ETH stabilized after crashes in May 2021 and January 2022. Therefore, the chances of Ethereum price heading to $1,730 are high as portrayed by the MVRV 30-day chart. ETH 30-day MVRV intraday Further worsening the situation for bulls is the supply distribution seen across whales holding between 100,000 to 10 million ETH. The first set of wallets – those holding between 100,000 and 1,000,000 ETH – has dropped from 1,452 to 135 over the past three months. For the other group, these numbers have dipped from eight to five. The generalized decline in institutions holding Ethereum indicates that they are not confident in the performance of ETH price in the near future. ETH supply distribution Driving the bearish thesis home is the recent uptick in the supply of ETH on exchanges from 14.86 million to 15.37 million since April 20. This 3.4% surge indicates that investors are moving their tokens to centralized platforms to potentially sell and also adds credence to the outlook described in the supply distribution chart above. ETH supply on exchanges While the bearish outlook seems plausible, a spike in bullish momentum could alleviate the sell-side pressure. However, a three-day candlestick close above $3,079 will invalidate the bearish thesis by recovering its losses. In such a case, Ethereum price could further rally to $3,703 and set a higher high, confirming the start of an uptrend.
Oil pullback ends, gold steadies

Vinco Ventures Stock News and Forecast: BBIG up on Cryptyde (TYDE) spinoff

FXStreet News FXStreet News 09.05.2022 16:44
BBIG stock closed up 28% on Friday, a noted outperformer. Vinco Ventures stock soaring as the date for Cryptyde spin-off is announced. The end-to-end product company shareholders to receive 1 TYDE share for every 10 BBIG shares held. BBIG stock soared on Friday as retail investors flocked to the name as the date for the long-awaited Cryptyde spin-off was announced. BBIG stock finished up at $3.29 for a near 30% gain on the day. Impressive when we look at the overall health of the stock market. Added to headwinds were bearish themes in the crypto space also. So is this one worth the wait? We think not, but read on. Vinco Ventures (BBIG) stock news: High debt and speculation BBIG announced last week that the spin-off for its Cryptyde subsidiary is nearing. Shareholders in BBIG as of May 18 will receive one share in Cryptytde (TYDE) for every ten shares of BBIG held. Anything else will be settled in cash if not in multiples of ten shares. While stockholders cheered the moe we remain unconvinced. Yes, we can get some impressive short-term spikes, but the investing environment has totally changed in the last six months toward these types of speculative investments. In our last article, we outlined some of our main concerns which are outlined in the most recent SEC return from Vinco Ventures. There is likely to be a large dilution to existing shareholders, based on agreements made to raise finance. There are also further debt maturities in the two years that will likely struggle to get refinancing or indeed at the very least attract much higher rates. Just take a look at credit spreads and how much they have widened this past year. $33 million is due for refinancing in July 2022 and another $80 million in July 2023. Elon Musk had quite the time securing money from 12 banks to fund his Twitter takeover, he had to put up a huge amount of Tesla (TSLA) stock as collateral. So how does BBIG compare in funding terms versus Tesla and Elon Musk? You can answer that one yourself. There is also a potential doubling of the share count coming in relation to warrants issued in November and December 2021. Vinco Ventures (BBIG) stock forecast: Spikes hitting lower highs So given what I have outlined above, this is not an investible case for BBIG stock. Yes, there may be the occasional spike which we have just witnessed but this is unlikely to see any follow through and will likely see BBIG stock come straight back down. Each of the five spikes identified in the chart below fails at a lower price, a classic downtrend. BBIG stock chart, daily  
Shiba Inu (SHIB) Creates Double Bottom Pattern After Bounce From May Lows | BeInCrypto

Shiba Inu price readies to rebound toward $0.000022

FXStreet News FXStreet News 09.05.2022 16:44
Shiba Inu price drops another 6% intraday as US dollar strength keeps pushing on. SHIB price downside is limited as a significant support level kicks in. With the RSI in oversold, expect to see a sharp upswing this week toward $0.00002200. Shiba Inu (SHIB) price is set to break its five-day losing streak as the US dollar is set to touch bottom and the Relative Strength Index (RSI) points to the end of the downturn. Shiba Inu price could rebound as the dollar will weaken throughout the week and the RSI picking up steam are two forceful elements that could set up a 30% upswing. That would bring price action back to $0.00002200, near the green ascending trendline, possibly rebooting the uptrend for 2022. SHIB price set to perform swing trade, upholding 30% gains Shiba Inu price has dropped 22% in the past few trading days as the US dollar strength kept persisting, with markets on edge over the next steps from Russia on Ukraine and now possibly Moldova coming into play. With this additional widening geopolitical risk, investors keep searching for safe havens and are even more convinced about their repositioning as Shanghai enters the fifth week of lockdowns. With more and more cuts in economic growth globally, 2022 is set to become a year of 0% growth, which will leave its marks in risk assets, with cryptocurrencies and stocks upfront. SHIB price has thus undergone that reshuffle and now looks set for some upside moves, with the RSI trading in the oversold area. Bears will potentially try to squeeze out the last gains towards $0.00001577, which is the monthly S1 support level, but $0.00001708 should be the line in the sand where SHIB price should bounce off. Expect to see an upswing towards $0.00002200, testing the green ascending trend line used as a guide in the uptrend from February and March earlier this year.   SHIB/USD daily chart As the losses start to mount and get bigger intraday, the risk is building for a falling knife event where investors would completely turn their back on cryptocurrencies. That could see an accelerated move towards $0.00001209, which would bring SHIB price to the low of October 2021. An additional risk is that bears set their target below $0.00001000, breaking a crucial big figure in SHIB price, which would amount to almost 43% of losses.  
NFP Quick Analysis: Americans get a pay raise, but markets' boss is the Fed, dollar to rise

NFP Quick Analysis: Americans get a pay raise, but markets' boss is the Fed, dollar to rise

FXStreet News FXStreet News 06.05.2022 16:14
The US has gained 428,000 jobs and wages are up 5.5% year, roughly within expectations. Higher wages impact the kind of inflation the Fed can controlFaster rate hikes are firmly on the agenda, boosting the dollar. Everybody gets a raise – whether it is the Great Resignation or not-so-great factors, Americans' salaries are rising on a broad base. The headline Average Hourly Earnings MoM has missed with only 0.3% vs. 0.4%. However, it came on top of an upward revision to last month's figure – 0.5% reported now vs. 0.4% in the original publication. Job growth also looks healthy. Even when subtracting the downward revisions worth 39K from the headline job growth of 428,000, the outcome is 391,000 – exactly what the economic calendar showed prior to the publication. In absolute terms, an increase of roughly 400,000 positions every months represents a healthy expansion. It was around 200,000 before the pandemic. The Federal Reserve cannot control the price at the pump, as that is impacted by Russia's war in Ukraine, Saudi Arabia's calculations, and the balance sheets of shale producers. Neither does it have control over China's dogmatic zero covid policy, which is causing supply-chain disruptions. But it can substantially impact domestic demand. With so many people being employed and their income rising, price pressures are rising. The Fed can encourage saving and discourage shopping sprees by raising interest rates and cooling down inflation. Fed Chair Jerome Powell may have vowed to increase borrowing costs by 50 bps in June, but such figures may force his hand to move more aggressively. He has already shown his willingness to pivot – and there is no reason it cannot happen again.Bond markets are impatient and need to take instant decisions, pricing more aggressive policy. The dollar follows and may have more room to run. The broad trend is already risk-off, boosting the greenback, and this jobs report only extends the trend.
Why ApeCoin is on track to be the next Dogecoin

Why ApeCoin is on track to be the next Dogecoin

FXStreet News FXStreet News 06.05.2022 16:14
ApeCoin price is bleeding amidst wider crypto market crash, the NFT token posts 15.5% losses. Whale activity on ApeCoin’s network has increased, with million-dollar transactions crossing 100. Analysts predict a recovery in ApeCoin price as the NFT token prepares to begin its recovery. ApeCoin has emerged as a leading NFT token with a high volume of whale transactions and on-chain activity. Analysts believe ApeCoin could recover from the recent slump and compete with leading Shiba-Inu-themed tokens. ApeCoin price recovery could begin soon ApeCoin has been a pioneering NFT token with a highly engaged community of Bored Ape Yacht Club holders. The NFT token witnessed a rise in whale transactions worth $1 million or higher on May 5, with the count exceeding 100. Proponents equate the rise in large volume transactions with higher demand for ApeCoin. The first-ever native NFT collection recently hit an all-time high of $26.70. After hitting a new high, the APE price went through a pullback and was hit by a market-wide crypto bloodbath. APE price has plummeted 15.5% overnight in response to the crypto market correction. Proponents believe rising concerns regarding inflation and recession have led to capital outflow from risk-based assets like Bitcoin, Ethereum and altcoins. Dogecoin, the leading meme coin, has witnessed double-digit growth and rising utility among real-world businesses on the back of the community, ‘Doge-army’, and influencers like Elon Musk, that endorse DOGE. ApeCoin’s community consists of influencers that hold Bored Ape Yacht Club, one of the highest-grossing NFT collections. ApeCoin has therefore found utility in the metaverse, like ‘Otherside’. With the rising utility, there has been a spike in volatility in APE prices. ‘Weighted sentiment’, an indicator of investors’ outlook on the NFT token, has fluctuated, hitting a high in March 2022. ApeCoin Sentiment among holders Analysts have evaluated the ApeCoin price chart and expect a recovery in APE. Keeger Francis, a Bitcoin and crypto specialist at Finder, said, ApeCoin’s price rally could be considered a “meme coin pump.” Francis said, ApeCoin looks a lot like DOGE and SHIB. So in the short term, there could be a large momentum trade leading to much higher prices. But in the long term, and after the hype has subsided, I think APE will decrease substantially in value.
What could happen to Shiba Inu price after Ethereum whales dump $17.6 million in SHIB

What could happen to Shiba Inu price after Ethereum whales dump $17.6 million in SHIB

FXStreet News FXStreet News 05.05.2022 16:24
The 100 largest wallet addresses on Ethereum holding $1 billion of Shiba Inu have shed nearly $17.6 million in SHIB. These whales accumulated Shiba Inu for weeks, making the meme coin the largest non-Ethereum altcoin holding in their portfolios. Analysts believe Shiba Inu price could plummet in response to the largewallet holdings reduction. Large wallet investors on the Ethereum blockchain have consistently accumulated SHIB. Over the last few days, however, these whales significantly reduced their holdings. With a decline in Ethereum whales’ SHIB holdings, proponents expect a bearish impact on Shiba Inu. Shiba Inu balance of Ethereum whales plummets by $17.6 million Ethereum whales have emerged as one of the largest holders of Shiba Inu. Large wallet addresses on the Ethereum network were considered bullish on SHIB when their meme coin holdings crossed the $1 billion mark. However, ETH whales have shed some of their Shiba Inu holdings over the past few days. The 100 largest Ethereum whales now hold $982,324,880 after shedding $17.6 million in SHIB tokens, which the sentimenthas shifted from bullish to bearish. Proponents note that one of the critical reasons for a drop in Shiba Inu holdings among Ethereum whales its the recent price pullback. The process can have a negative feedback effect with decreases in whale holdings fueling a bearish sentiment among Shiba Inu holders, and then more liquidations. Further selling around the current price levels can put Shiba Inu in a dangerous postions as the meme coin has been forming a descending triangle on its daily chart. A sustain daily candlestick close below $0.000021, and more importantly below $0.000018, could trigger a 48.59% correction. Such a significant decline can send SHIB to $0.000011 or even $0.000010. SHIBUSDT 1 day chartIt is worth noting that the pessimistic outlook would be invalidarted if Shiba Inu price can slice through the $0.000023 resistance level. Moving past such a critical supply zone can encourage market participants to re-enter the market and help SHIB recover and potential hit $0.00004 as FXStreet analysts explain in the video below.
BOE Quick Analysis: The R-word bursts out, and the pound plunge is far from over

BOE Quick Analysis: The R-word bursts out, and the pound plunge is far from over

FXStreet News FXStreet News 05.05.2022 16:23
The BOE raised rates by 25 bps as expected, and suggested further moves. Forecasts for a 10% inflation rate pushed a third of members to vote for a 50 bps move.Projections for an outright recession have sent the pound down, and more may come.A UK recession is coming – the cat is out of the sack, and sterling bulls have turned into mice searching for shelter. There is room for more, as the volatile currency pair digests the decision and the monetary policy divergence with the Fed. And I would add that It could also drag the euro down. The massive increase in energy prices is set to push inflation to 10% – something which should have pushed the pound higher. If price rises are rapid, so are interest rates. Indeed, no fewer than three out of nine members of the Bank of England's committee voted for a 50 bps hike. That is more than the markets expected.However, there is too much of a "good" thing, and that hits the pound hard. The BOE's Monetary Policy Report (MPR) includes big headlines not only double-digit inflation but an outright recession. By the fourth quarter, the surge in prices is set to erode Brits' disposable income enough to trigger a contraction, which could extend to another quarter. The rest of the report also consists of dire warnings. Is the gloom already priced into GBP/USD? Probably not. First, this currency pair is extremely volatile, and after a period of tension, it could extend its falls. Secondly, Governor Andrew Bailey and his colleagues are likely to continue warning the public of the dangers of inflation. They already did it before their recent "blackout period" and now they have free reign to repeat it. BOE members are aware of the public's inflation angst, and will likely relate to that. They would be taking a page from Fed Chair Jerome Powell, who began by addressing the American people. More gloom means a weaker pound.Third, markets have yet to digest two critical rate decisions in the space of less than 24 hours. The Federal Reserve remains content with the US economy and seems confident of orchestrating a "softish landing." The BOE minces no words.Monetary policy divergence is the fuel of forex action – and I see further GBP/USD downside. The gloom from the BOE may also impact the euro. Both the eurozone and the UK are suffering from Russia's invasion of Ukraine. Moreover, inflation in Britain is more broad-based than in the eurozone, where the Great Resignation seems to be an Anglo-Saxon phenomenon.Without higher wages, inflation is set to remain stuck in the eurozone. So, if a recession is coming to the UK, it is hard to see the eurozone evading one, and the ECB meaningfully raising rates.
Oil recovers, gold inches higher

WTI rallies into $106.00s, eyes recent highs near $110 with focus on EU’s proposed embargo on Russian oil

FXStreet News FXStreet News 04.05.2022 16:23
Oil prices are sharply higher on Wednesday, with focus on EU proposals for a ban on Russian oil imports. WTI is trading over $3.0 higher in the $106.00s and eyeing recent highs in the $108-$110 area. Oil prices have turned sharply higher this Wednesday in wake of a proposal by the European Commission to phase out all imports of Russian oil within six months, end imports of refined products by the end of the year and kick Russia’s top bank out of the SWIFT global payments system. EU nations will have to unanimously agree on the proposal for it to take effect and a few smaller nations (Hungary, Bulgaria, Slovakia) have been kicking up a fuss, meaning a final deal was not reached on Wednesday. But envoys from each of the EU’s 27 nations will be meeting again on Thursday and the market's base case is that a deal will be finalised soon. The EU’s proposal will also ban EU companies from providing any shipping, financing or insurance services to aid the transport of Russian crude oil worldwide, a move analysts said would have a “chilling” effect on the global trade of Russian crude oil. Meanwhile, some have argued that once the EU has weened itself of Russian oil, the West will be able to up the pressure on countries still buying Russian crude oil grades, perhaps with the threat of sanctions. As commodity markets brace for further declines in Russian oil output in the coming months as the EU’s latest sanctions take effect in the coming months, front-month WTI futures are trading firmly on the front foot. At current levels in the $106.00s per barrel, WTI is slightly more than $3.00 higher on the day, with oil prices for now shrugging off mixed news coming out of China regarding lockdowns there, as well as further evidence of global growth woes. WTI bulls are eyeing a test of recent highs in the $108-$110 area. Local press reported that Beijing is to extend lockdown measures indefinitely as the city continues to grapple with rising Covid-19 infection rates, however, the situation in Shanghai reportedly continues to improve, with much of the city now out of lockdown as case rates decline. The chilling impact on the global economy of recent Chinese lockdowns was on show on Wednesday with the release of IHS Markit’s global manufacturing PMI survey, which fell into contractionary territory for the first time since June 2020. Looking ahead, official weekly US crude oil inventory figures will be released at 1530BST after private weekly API inventory data showed a larger than expected decline in headline crude oil stocks on Tuesday. This has arguably also supported the price action on Wednesday. Focus then turns to the broader macro theme of central bank tightening later in the US session, with the Fed seen delivering a 50 bps rate hike at 1900BST. On Thursday, OPEC+ is scheduled to meet, with analysts expecting the meeting to be a non-event, with producers set to agree to continue their current policy of hiking output quotas by 400K barrels per day each month. The more important theme right now is how well OPEC+ nations can actually keep up with hikes to output quotas. Smaller nations have been struggling over the last 12 or so months, whilst sanctions mean Russia is also now a big under producer.
Top 3 Price Prediction (BTC) Bitcoin, (ETH) Ethereum, (XRP) Ripple: Official start to recovery rally

Top 3 Price Prediction (BTC) Bitcoin, (ETH) Ethereum, (XRP) Ripple: Official start to recovery rally

FXStreet News FXStreet News 04.05.2022 16:23
Bitcoin price prepares for its ascent to $42,100 after bouncing off a stable support level. Ethereum price needs to overcome the $3,000 barrier to have any chance at revisiting $3,500 or $4,000. Ripple price begins its journey to $0.70 after a recovery above the $0.60 support level. Bitcoin price has kick-started its attempt to move higher, picking up Ethereum and Ripple along with it. Investors can expect BTC to revisit Monday’s high and reevaluate directional bias from there. Bitcoin price begins its journey higher Bitcoin price bounces off the lower trend line of the ascending parallel channel, which is formed after drawing trendlines above and below three sets of higher highs and higher lows. Investors can expect BTC to slice through the 100-day Simple Moving Average (SMA) at $41,009, which is the first major hurdle. Doing so, will allow it to retest the 50-day SMA at $41,921, which coincides with the daily supply zone, extending from $43,981 to $41,921. This area of confluence is where the upside will be capped for the big crypto and would represent a 10% gain. BTC/USDT 3-day chart Regardless of the bullish outlook, a daily candlestick close below the $34,752 support level will invalidate the bullish thesis and trigger a crash to $30,000 or lower. Ethereum price to reverse the trend Ethereum price is in a medium-term ascending channel created by connecting its two higher highs and three higher lows since January 28. The third retest of the lower trend line has shown a bullish reaction – lead cryptocurrency BTC is recovering and influencing the rest of the market. Regardless of the bullishness, ETH needs to flip the 100-day SMA at $2,914 followed by the 50-day SMA at $3,069 to continue rising. This development is key to triggering a move that tags the 200-day SMA at $3,443. While a move to $3,500 is likely, a surge in buying pressure could extend the run-up to the $4,000 psychological level. ETH/USD 1-day chart On the other hand, a daily candlestick close below the weekly support level at $2,541 will indicate a resurgence of selling pressure and invalidate the bullish thesis. This could trigger a further crash to the $2,000 psychological level. https://youtu.be/hDdFa7mu7Jo Ripple price purges sell-side pressure Ripple price purged the downside pressure by collecting the liquidity resting below the $0.60 support after a 30% crash. XRP price has since moved back above the said foothold, indicating that buyers are in control. A resurgence of buying pressure is likely to propel XRP price up to the immediate hurdle at $0.696. Clearing this barrier will present two further resistance levels for Ripple bulls to overcome - the 50% retracement level at $0.735 and the 2022 volume point of control at $0.768. For now, the market structure looks uncertain due to the choppiness of Bitcoin. Therefore, investors can expect a local top to form around $0.768, representing a 25% ascent from the current position at $0.615. XRP/USD 1-day chart A daily candlestick close below the $0.601 support level will produce a lower low and invalidate the bullish thesis. In such a case, XRP price is likely to crash to the $0.548 support level. https://youtu.be/hBoG1pklXYI
🔥 SHIBA Volatile Move Ahead: Triangle Analysis

(SHIB) Shiba Inu price is about to recover after this bullish breakout

FXStreet News FXStreet News 03.05.2022 16:31
Shiba Inu price is set to reboot its uptrend after a false break below. Expect to see a 35% upside towards $0.00002800, a vital level going forward. SHIB price is currently squeezed at the intersection of two major trendlines. Shiba Inu (SHIB) price slipped below necessary support after experiencing bearish pressure from a downward trend line. Bulls, however, have kept any further fades contained and even revealed a squeeze to the upside. Despite four rejections against both the red descending trend line and the green ascending trendline Shiba Inu price is at least posting higher lows on a daily chart. Bullish pressure is mounting and is set to materialise in a pop above $0.00002400 that could lead to a rally up to $0.00002800 around the monthly R1 and the 78.6% Fibonacci level. SHIB price set to restart its 2022 uptrend Shiba Inu price slipped below the essential green ascending trendline that acted as the backbone for the uptrend throughout 2022 thus far after rejection from the red descending trendline to the topside. However, with higher lows, the stage looks set for a squeeze and pop higher as bullish momentum builds and the Relative Strength Index (RSI) builds up to the upside. SHIB price thus will make its way across the intersection between the red and the green diagonal trend lines and, in the process, shift from a downtrend to an uptrend. One bullish indicator will be when the daily pivot at around $0.00002284 is turned back into support. From there, a quick jump looks set towards the monthly R1, just a few ticks away from the 78.6% Fibonacci level at $0.00002782, so presume $0.00002800 as the big figure target, booking 35% profit with it. SHIB/USD daily chart Risk comes with another fifth, firm rejection against the red descending trend line or the green ascending trend line. That could be a setback for bulls, triggering short-term profit-taking and creating a fade that could be extended to $0.00001708, dropping 22%. With that move, the RSI would hit the oversold barrier again and see a bullish reversal for the next attempt.
Tesla Stock News and Forecast: TSLA got help from Shanghai to reopen Giga plant

Tesla Stock News and Forecast: TSLA got help from Shanghai to reopen Giga plant

FXStreet News FXStreet News 03.05.2022 16:31
TSLA stock recovered on Friday to close up 3.7% at $902.94. Tesla stock has been under pressure from Musk selling the stock for Twitter deal. Reports surfaced of a club of billionaires urging Musk on for the TWTR deal. News just in from a Reuters report says that Tesla received help from Shanghai authorities to help Tesla reopen its Giga Shanghai factory. A letter seen by Reuters claimed to be from Tesla says that Shanghai authorities helped transport 6,000 workers to the factory and that authorities also helped to disinfect the plant. TSLA stock is trading at $906.45, up 0.5% in Tuesday's premarket. Tesla (TSLA) stock recovered a decent bit of ground on Monday as the US equity indices staged a late recovery to move higher. The Nasdaq was the big winner closing up 1.7% but naturally, Tesla being high beta, outperformed that and settled nearly 4% higher. The stock remains well below recent levels but may be set for a comeback as sentiment reaches extremely bearish levels, meaning a countertrend rally could be set to unfold this week. That is once we get through the Fed's interest rate decision. However, with most participants either short or neutral we expect something of a positioning rally Tuesday and Wednesday as investors rebalance from overly bearish positions. Yes, the Fed will hike 50bps but the market has this well priced in. The risk-reward is for a less than hawkish commentary and a strong equity market rally. The bad news and overly hawkish commentary are expected. Anything even slightly more accomodating will see a rush back to equities. Tech is one of the most beaten-down sectors so it will stand to have the strongest rally. Don't say you haven't been warned. Tesla (TSLA) stock news: Billionaires pitching Twitter deal Some interesting news over the weekend from an article in the Wall Street Journal. The paper reports that a group of billionaires has been urging Elon Musk to go ahead and purchase Twitter (TWTR). The Wall Street Journal reported cited a group including some former Paypal execs, of which Mr. Musk is one and Peter Thiel another one. It is not clear if this influenced Mr. Musk in any way and he does always appear to be very definite in his own views and motives. Twitter (TWTR) stock news: Musk reducing margin loan financing? TWTR stock also traded higher on Monday as it appears Elon Musk is in talks to reduce his collateral on the Twitter deal. It was revealed last week that Elon Musk had to put down a large stake of his Tesla holdings as collateral, but a Reuters report suggested he is in talks with Apollo Global Management (APO) and Ares Management (ARES) to reduce the margin loan element of his Twitter financing. This should naturally help relieve the pressure on Tesla stock and was partly the reason for Monday's strong rally. Both Apollo and Ares are private equity firms. Tesla (TSLA) stock forecast: Potential for short-term bounce Very little of note to comment on here compared with last week. TSLA stock price remains in a medium-term downtrend but we have some potential for a short-term bounce. $975 is the key resistance. Tesla (TSLA) stock chart, daily Below is the 15-minute chart, showing more detail on a short-term basis. Witness the large volume gap from $920 to $975, so a move above $920 should then accelerate quickly to fill this gap. Tesla (TSLA) stock chart, 15 minute
Short-term technical analysis on Gold

Gold Price Analysis: XAU/USD slides into $1850s, now down over 2.0% on the day

FXStreet News FXStreet News 02.05.2022 16:59
Spot gold has extended on earlier losses and is now trading in the upper $1850s, down more than 2.0%. As focus turns to upcoming US data and Wednesday’s Fed meeting, profit-taking is seemingly weighing on XAU/USD. Some are also citing downside in global energy and metal markets as reducing the demand for inflation protection. Ahead of the release of April US ISM Manufacturing PMI data that will probably show a continued robust pace of expansion in US industry last month, spot gold (XAU/USD) prices continue to trade on the back foot. Indeed, a fall in prices that had begun during Asia Pacific trade accelerated in the run-up to the US open, with the precious metal recently breaking below key support in the $1875 and extending losses into the upper $1850s. At current levels around $1857, XAU/USD now trades with on the day losses of over 2.0%. No specific piece of news or fundamental catalyst can be pinned down as behind the latest drop. Instead, analysts and market commentators have on Monday been talking about how nerves ahead of what is likely to be a very hawkish Fed meeting on Wednesday, as well as a barrage of tier one US data releases, is encouraging profit-taking in gold markets. The Fed is expected to lift interest rates by 50 bps, announce quantitative tightening plans and signal more 50 bps at upcoming meetings, with the bank aiming to get interest rates back to around 2.5% by the year’s end. Higher interest rates increase the “opportunity cost” of holding non-yielding assets like gold and typically weigh on its demand. Elsewhere, market commentators also cited sharp downside in global energy and metal prices as weighing on demand for gold via a reduced need for inflation protection. Crude oil and copper markets, to take to key examples, have cratered on Monday amid concerns about growth in China following ugly April PMI data over the weekend. XAU/USD bears will now likely target a test of resistance turned support in the $1850 area ahead of a potential test of the 200-Day Moving Average in the $1830s.
Meme coins - DOGE: Trading plan for Dogecoin on June 23, 2022

Is Dogecoin price still set to rally 70%

FXStreet News FXStreet News 02.05.2022 16:59
Dogecoin price closed the last week positive but after undoing 22% of its gains. The bullish rally to $0.235 remains in place but is delayed due to the unexpected sell-off last week. A weekly candlestick close below $0.078 will put an end to the bullish outlook. Dogecoin price showed massive promise last week after an impulsive uptrend. However, the subsequent selling pressure has caused DOGE to retrace lower, delaying its breakout and hence the rally. Dogecoin price needs to breakout Dogecoin price nosedived 85% from its all-time high of $0.740 and formed a swing low at $0.109 in late February. This downswing, which took roughly less than a year created three distinctive lower highs and lower lows. Connecting these swing points using trend lines describes a falling wedge pattern. The technical formation forecasts a 68% upswing to $0.235, which is obtained by adding the distance between the first swing high and swing low to the breakout point. Despite the 23% upswing last week, DOGE has undone most of its gains. However, the weekly candlestick closed on a positive note, keeping the hope alive for a breakout from the falling wedge. A weekly candlestick close above $0.159 will provide a confirmation of an uptrend and trigger a move to the forecasted target at $0.235. In total, this run-up would constitute an 80% ascent from the current position at $0.131. DOGE/USDT 1-week chart While things are looking optimistic for Dogecoin, Bitcoin price is hovering above a crucial support level. If it breaks down, the spillover effect could ruin Dogecoin price’s push and turn the bullish setup sour. If DOGE produces a weekly candlestick close below $0.078, it will invalidate the falling wedge setup and bullish thesis revolving around it.
Digital World Acquisition Corp News and Forecast: DWAC stock up as Trump returns to Truth Social

Digital World Acquisition Corp News and Forecast: DWAC stock up as Trump returns to Truth Social

FXStreet News FXStreet News 29.04.2022 17:01
DWAC stock surges 8% on Thursday to close at $48.06.Digital World Acquisition stock ignites as President Trump returns to Truth Social.DWAC shares gained 13% in the after-hours market on Thursday.Guess who's back-back tell a friend, Shady's back-back! Well, not quite, but he who must-not-be-named for Democrats is back online. Ok, that's enough vague and obscure song and movie references which probably are way too old for most of you anyway.Twitter (TWTR) and Tesla (TSLA) have been stealing all the social media limelight these past few weeks but as promised President Trump has returned to Truth Social and sent its proposed SPAC partner DWAC stock soaring. Truth Social was launched by Trump Media and Technology Group (TMTG) and DWAC is the SPAC vehicle that is proposing to take TMTG public.DWAC stock news: Trump is back onlineThe Donald's return to social media is the perfect antidote to DWAC stock struggles and a knock to Twitter and Elon Musk. While nothing had ever been confirmed it was assumed that Elon Musk's advocacy for free speech would see Donald Trump's Twitter account restored. Elon Musk had after all said he favors suspension rather than outright bans from Twitter, but last week former US President Trump said he would not be returning to Twitter and instead promised to return to Truth Social. So promise kept as he posted on Thursday evening: "I'm Back! COVFEFE".Ok, let's dig this one up again because there might be some of you who have no idea what COVFEFE means. The origin apparently dates back to a tweet President Trump sent in May 2017, "Despite the constant negative press covfefe". It was widely assumed to be a misspelling for coverage but quickly went viral. President Trump though did not admit it was a misspelling and instead posted later "Who can figure out the true meaning of 'covfefe' ??? Enjoy!"According to Wikipedia "U.S. Representative Mike Quigley (D-IL 5) introduced H.R.2884, "The Communications Over Various Feeds Electronically for Engagement Act (COVFEFE Act)" on June 12, 2017. It would require the National Archives to preserve and store social media posts by the President of the United States. The bill was referred to the House Committee on Oversight and Government Reform on the same day but saw no further congressional action."Excellent I'm glad we cleared that up and we are all up to speed on what COVFEFE means then! So, one tweet (oops see what I did there), sorry one truth, has generated a significant market cap gain of about $200 million for DWAC stock. Now imagine if President Trump tweeted (oops), truthed all the time. Truthed, is that even a verb? Maybe it will catch on, after all how weird did tweet first sound. However, before getting too excited please be aware that DWAC has been struggling to get the SPAC deal with Truth Social over the finish line. The deal has been beset with delays and executive resignations which raises some concerns. Indeed Kerrisdale Capital recently opined that “with each passing day, the truth becomes harder to deny; a merger between two sketchy companies that is already taking too long is likely headed for collapse. We value DWAC at the cash held in trust: $10 (-80%).”Kerrisdale did say they are short DWAC. We have no visibility on Kerrisdale and are merely reporting the story, we do not vouch for its accuracy or otherwise.DWAC stock forecast: Long-term downtrend remainsDWAC stock is still in a clear and long-term downtrend. It is much too speculative at these levels for us, but if you do want to play it it does exhibit huge volatility and momentum. None better than former President Trump to stir up momentum in something, but please use careful risk management, we think this is way too high for the medium-to-long term.DWAC stock chart, daily
Ethereum rejection at channel resistance

Ethereum price set for 15% gains over the weekend

FXStreet News FXStreet News 29.04.2022 17:01
Ethereum price sees bulls building momentum for an attack on $3,500. ETH price takes a small step back with $2,900 as a support level before jumping higher. As the weekend begins, ETH bulls will use the drop in headlines and earnings as an open window for a leg higher. Ethereum (ETH) price is set to jump over the weekend despite the brake worried investors have put on price action in the past week. Although trading volume has been more significant over the past week and should thus come with more solid movements, price reaction has been distorted by geopolitical headlines, earnings, and whipsaw moves in stock markets. All those headline risks are starting to fade into the weekend, resulting in a probable jump higher in prices as bulls use the flatlining Relative Strength Index (RSI) to seize control and ramp price up to $3,500 by Sunday. ETH price set to wipe to the floor with bears Ethereum price has given investors and traders a wearing week with big whipsaw moves on the back of earnings, geopolitical headlines and investors switching from risk-on to risk-off as if they were flipping a light switch. But with volatility comes opportunity, and as all these events will start to die down towards and indeed into the weekend, bulls will have the playground for themselves and can ramp the price up, even up to $3,500, if they pick the proper entry levels. Expect the RSI to pop back above 50, with still plenty of room before trading in the overbought. ETH price will first need to address $3,018.55, which is an intersection between the 55-day Simple Moving Average (SMA) and a historic pivotal level. If bulls can make it through there, next up is $3,163.35, which should not be much of a problem, but ideal to settle and search for support before swinging up 10% and testing the 200-day SMA around $3,500. With this two-tier jump, the bulls could see ETH price opening up on Monday in another game. ETH/USD daily chart The most considerable risk for bulls could be that they already fail at the first hurdle, at $3,018.55. Over the weekend, investors will be reassessing the situation, and bears could be awaiting the bulls’ attempt and use it as an entry for a short position, pushing price action back down if investors flee further into safe-havens on Monday. Expect a push back in ETH price below $2,800 toward $2,695.79, where double support is awaiting to catch the fall.
ApeCoin price shows no signs of slowing down, targets $25 next

ApeCoin price shows no signs of slowing down, targets $25 next

FXStreet News FXStreet News 28.04.2022 16:39
ApeCoin price created a new all-time high at $20.29 after producing a set of higher highs. Technicals suggest a bearish divergence could provide a buying opportunity before a move to $25. A daily candlestick close below $14.43 will invalidate the bullish thesis for APE. ApeCoin price is taking a dangerous route that could lead to a steep correction if things do not simmer down. However, considering the massively bullish sentiment around APE, the upcoming retracement could also provide an opportunity for patient buyers to accumulate the altcoin at a discount before setting a new all-time high. ApeCoin price prepares for a new high ApeCoin price has set four higher highs and three higher lows since April 20 and created a new all-time high at $20.29. Connecting these swing points using trend lines reveals a falling wedge. This technical pattern forecasts a 17% downswing, obtained by measuring the distance between the first swing high and low. While ApeCoin has not breached the falling wedge’s lower trend line, investors can speculate that it could occur on the next leg down at roughly $19.89. Therefore, adding the 17% measure to this level reveals a target of $16.47. Adding credence to the downswing thesis is the bearish divergence between the price’s higher highs and the Relative Strength Index’s (RSI) lower highs. This technical formation suggests that the momentum is waning while the underlying asset’s value rises. The resolution of this setup is a minor retracement, which falls in line with the falling wedge formation. Investors can expect ApeCoin price to retrace by roughly 18% from its current position to $16.47. While this move is short-term bearish in outlook, for sidelined buyers this is an excellent opportunity to accumulate. Based on the trend-based Fibonacci extension, the rally resulting from $16.47 will likely propel ApeCoin price to $24.57, a new all-time high. In total this run-up would constitute a 50% gain. APE/USDT 4-hour chart While things are looking up for ApeCoin price, a sudden surge in selling pressure that pushes it to produce a four-hour candlestick close below $16.47 will invalidate the bullish thesis. Such a development will open up the possibility of a further crash in APE’s market value to $14.43.
Analysis and trading tips for EUR/USD on June 22

US GDP Quick Analysis: Houston, we have contraction, but three reasons support dollar strength

FXStreet News FXStreet News 28.04.2022 16:39
US GDP shocked with a 1.4% contraction in the first quarter of 2022. The consumption, and inventories components all paint a rosier picture. Dollar profit-taking is in place but may reverse later on. Is it time to use the R-word? R stands for recession, which is defined by two consecutive quarters of economic shrinking. The US economy squeezed by 1.4% in the first quarter of 2022 – so it would only take another one to have an official downturn. Not so fast – not a recession, nor the dollar. In raw dollar terms, the economy grew by 6.6%, and inflation eroded it by 8%, hence the negative 1.4% growth. That is a reason for the Federal Reserve to raise rates aggressively and thus send the dollar higher. The Fed announces its decision only next week, and some dollar profit-taking is currently seen, a part of end-of-month flows. This opportunity to correct some of the massive dollar gains could fade sooner than later. Even without waiting for the Fed or flows to fade, focusing purely on the report provides three significant silver linings that could help the greenback recover. 1) Personal consumption is up 2.7% annualized in the first quarter vs. 2.5% in the fourth quarter of 2021. That means shoppers remain resilient despite rising prices. Consumption is roughly 70% of the US economy. 2) Inventories have eroded some 0.8% – more than half of the contraction has come from using existing materials in storage. When inventories are drawn down in one quarter, they tend to be replenished in the second one. Less growth now, more later. 3) Net trade slashed no less than 3.2% from growth – an anomaly for this usually benign factor. This seems like a "pothole" that could be reversed in the second quarter. All in all, the devil is in the headline, not in the details this time. All this should lead to a resumption of the bullish dollar trend.
Financial Markets Today: Quick Take – May 12, 2022 | Saxo Bank

US GDP Preview: Three reasons to expect dollar-boosting figures

FXStreet News FXStreet News 27.04.2022 16:48
There is room for an upside surprise in GDP figures, similar to most pandemic-era releases. Inflation components are set to remind investors of the Fed's aggressive rate rise path. The publication may unleash further dollar strength, extending the trend. Has US growth peaked? That is what economists are expecting first-quarter Gross Domestic Product figures to show – a marked slowdown from 6.9% annualized expansion to a mere 1%. Rising energy prices have eroded consumers' willingness to spend, and rising wages are insufficient to keep the momentum, as these are chasing rising wages. Slower growth means a weaker dollar, but there are three reasons to expect a positive outcome for the greenback. 1) Expectations are too low The world's No. 1 economy is still growing at a rapid clip, as figures from early 2022 have shown. Fast job growth is incompatible with a snail pace growth. Even if the reasons mentioned above are enough for a significant deceleration, perhaps the gloom has gone too far. Looking at data since the pandemic broke out just over two years ago, there was a clear tendency to underestimate America's ability to bounce back. Growth figures beat expectations five out of eight times, and were spot on three times, missing only once. That single below-consensus figure was seen in the last quarter of 2021 – the latest release – and came out at 6.9% vs. 7%, not a shocker. Source: FXStreet Overall, experience shows that economists were too bearish on growth prospects in recent years. If that repeats itself, the dollar could gain ground in response. 2) The Deflator Something which may impact the Fed more than headline figure is the deflator. This is a measure of how price rises erode the growth in nominal terms. Source: FXStreet The consensus stands at 7.2% annualized price rises, up from 7.1% in the fourth quarter. Even if this is a relative deceleration, a level above 7% still implies high inflation. In turn, this publication serves as a reminder for investors that the Federal Reserve is set to raise interest rates at a rapid pace. GDP data is due out less than a week before the Fed meets – and while the central bank is in its blackout period, staying silent. Even if the data does not impact officials, markets will not know that. Uncertainty could further push funds into the safe-haven dollar. 3) Make the trend your friend The dollar is already benefiting from worries about the Fed, China's zero covid policy and Russia's ongoing war in Ukraine – now with bans on gas imports to some countries. However, markets may take a step back in rushing toward the greenback ahead of the GDP releae, a major one. The mere release of the figure could unleash further strength, basically resuming the broader trend. Such a phenomenon happens with significant events, that cause a pre-publicaiton freeze and furious action afterward. Final thoughts A refocus on the US economy and the Fed could remind investors that the US dollar has room to rise with or without its role as a safe-haven currency.
COT: Commodity specs jump ship on recession angst

Tech Stocks: Meta (FB Stock) Earnings Preview: Will Facebook do it again or will it save the tech space?

FXStreet News FXStreet News 27.04.2022 16:48
Meta (FB) stock is set to report earnings after the close on Wednesday. Last time out saw Facebook stock suffer a record market cap fall. Alphabet (GOOGL) and Microsoft (MSFT) started tech earnings on Tuesday. After last evening's contrasting earnings reports from Google and Microsoft it is time for the formerly known as Facebook now-called Meta (FB) to try and reassure nervous tech investors. That tension has been growing of late as we can see from the chart below showing Nasdaq volatility (VXN) at its highest since January 2021. VXN chart, daily Meta (FB) stock news: An opportunity for an upside surprise Ok, so we're now all no doubt familiar with what happened last time out for Facebook earnings. That has set the bar pretty low (a record fall tends to do that) and so we feel the risk-reward is skewed to the upside. We are not saying earnings will be good or FB stock will go up but merely that another weak set of numbers will likely be met with a chorus of more of the same. By contrast, if Meta somehow does turn things around it could see a sharp rally. Now, what is the market looking for from Facebook earnings? Earnings per share (EPS) is forecast for $2.51 while revenue is forecast at $28.2 billion. Facebook is sitting at the low post the February earnings so the stock is pretty beaten up and the sentiment is low, hence the reason for our risk-reward skew to an upside earnings surprise. Wall Street analysts have also set the bar pretty low after the last quarter. Read next: Meme coins: (SHIB) What Is Shiba Inu Token? Shiba Inu Coin Price. What Makes This Altcoin So Special? Clever Methods Used To Give High Crypto Returns | FXMAG.COM Meta (FB) stock forecast The pandemic lows from March 2020 are now firmly in sight at $137.10. Huge support there, but on the weekly chart both the MFI and RSI are oversold so giving further credence to our risk-reward thesis. Meta (FB) stock daily chart The big concern last quarter was the fall-off in advertising revenue. Apple's privacy changes hit the stock and revenue hard so it will be interesting to see how Facebook is managing this. Alphabet (GOOGL) alluded to advertising in its earnings conference call last night but in fact, Google revenues held up reasonably well. YouTube may have seen a slowdown due to the Russia-Ukraine war so can Facebook avoid a similar slowdown? But after the last set of earnings analysts appear to have set the bar much lower as mentioned. Facebook earnings growth forecasts are over 20% lower than previously and revenue is penciled in for just 8% growth. Facebook earnings are out after the close on Wednesday.
Gold Price Or FX - What's More Volatile Now? What's Ahead EURCHF And USDCHF After SNB Decision? Price Of Crude Oil Dropped. Awaiting Powell's (Fed) Testimony | Saxo Bank

(ADA) Cardano Price Is Still Under Bearish Pressure As The Downturn Continues - Altcoins

FXStreet News FXStreet News 26.04.2022 16:51
Cardano price saw an attempt from bulls to reverse the price trend which failed. ADA price is again down for the day and is set to eke out more losses. Not until ADA price dips below $0.80 will bulls show up for a significant turnaround. Cardano (ADA) price is still under pressure from its rejection by the 55-day Simple Moving Average at $0.97 on April 20. Since then, ADA price has been trading lower as more bearish pressure mounts and dollar strength adds a double weight to the downtrend. Expect downside to continue towards $0.80 or $0.69 with either 13% or 22% losses. ADA price at risk of undergoing dollar gravity, dropping 22% Cardano price has been trying to shake off the tail risks that came along with the situation in Ukraine. The election of Macron for a second term securing political stability in the plagued European block should have helped, but instead, since Sunday night, the Greenback has been rallying against all major currencies, including cryptocurrencies, as investors run for cover due to fear of more lockdowns and supply chain disruptions stemming from the covid outbreak in China. With that spillover effect, most cryptocurrencies are on the back foot, except for the few under Elon Musk’s wing and are trading higher for the day. The dollar index will have hit a substantial level in EUR/USD and other currencies In the first correction phase, ADA price will drop to $0.80 and look at the support offered at the beginning of March. If that fails, expect to see a further continuation towards $0.69 with a level that goes back to February 15, 2021. With another 22% loss, ADA price is nearly set to print a new year low. If that transpires, bears will have lost some force in profit-taking and with not much fuel left to eke out further gains, the dollar index will have hit a substantial level in EUR/USD and other currencies. A correlation to keep in mind. ADA/USD daily chart One should almost forget that it is the earning season in the US. This evening, two big tech corporations are set to make a scene. Microsoft and Alphabet are the first of six big tech names that mainly represent most of the Nasdaq and are set to put out earnings. Should those surprise to the upside and show no sign of weakness against the current inflation backdrop, expect to see Nasdaq popping higher by multiple percentage points, which will spill over into cryptocurrencies and drag those higher, with ADA Price revisiting $1.00.
Elon Musk Steals The Show! (TWTR) Twitter Stock News and Forecast: TWTR stock bows to Tesla king's takeover

Elon Musk Steals The Show! (TWTR) Twitter Stock News and Forecast: TWTR stock bows to Tesla king's takeover

FXStreet News FXStreet News 26.04.2022 16:51
TWTR is to be taken over by Tesla boss Elon Musk. Musk is a prolific user of this popular social network. Twitter board completes a remarkable turnaround in double-quick time. Cash is king they say and that certainly seems to be the case for the Twitter (TWTR) board as they did one of the sharpest 360s in stock market history. After only last week more or less rejecting Elon Musk's takeover approach they did a swift u-turn that an indy car driver would have been proud of. Last week the board was adamant that they would fight to the last against Elon Musk's bid and even instigated a poison pill defense. This was an unusual and highly aggressive move and is not one often used in corporate takeover battles. So it came as quite a surprise when the Wall Street Journal ran a story saying the Twitter board was meeting to reconsider their position and behold they took the second bite of Musk's cherry! Twitter (TWTR) stock news: Cash is King Elon Musk, the Tesla CEO – or to give him his official Tesla title – 'The Technoking of Tesla', looks to have forced a change of heart from the Twitter board once the cash was put on the table. Cash is always king and especially in this market. Once reports surfaced that Elon Musk had secured funding for the deal then the Twitter board made a sudden about-face from their strong initial defense. So Elon Musk's original and final offer as he put it for $54.20 per TWTR share was accepted by the Twitter board. No other bidders had materialized it seemed so the floor was open to Musk and only Musk. There had been speculation as to how he would secure funding or whether he would need to sell a large chunk of Tesla (TSLA) stock to fund the deal but given his status, it always seemed fairly odds on that someone would deem him good for the cash. He says he wants to keep the platform open and hopes his worst critics will remain on the platform as he is a free speech devotee Musk has made some pledges on how he sees the future for Twitter but these have been broad-based and vague. He says he wants to keep the platform open and hopes his worst critics will remain on the platform as he is a free speech devotee. He also reportedly wants to give users the ability to edit tweets. It remains to be seen how this advocacy of free speech will go down with regulators and governments. Already, the EU is cracking down on big tech companies and their content moderation. It seems Musk wants to move Twitter in the other direction. The White House commented on the deal saying 'No matter who owns or runs Twitter, the President has long been concerned about the power of large social media platforms [and] the power they have over our everyday lives'. Donald Trump has already come out and said he has no plans to return to Twitter even if his account is unlocked. The former President is of course bringing an alternative social media project to fruition, Truth Social via a SPAC deal with Digital World Acquisition Corp (DWAC). DWAC stock fell on Monday as Twitter now looks like a more open rival to this social media startup. TWTR stock forecast $54.20 is the offer level and with no other bidder appearing it seems likely this one will trade at a discount until closer to the final deal date. Merger arb players will work out the risk premium and cost of carry and determine the risk worth taking in buying Twitter. Likely to be north of $50 with somewhere around $3 the likely risk premium. TWTR stock chart, daily
US dollar pares gains in Asia | Oanda

Oh No Tech Stocks! Nvidia (NVDA) Stock Suffers Again As Netflix (NFLX) Hits Tech

FXStreet News FXStreet News 25.04.2022 16:44
NVDA stock stuck to the scrips and lost another 3% on Friday. NVDA stock is down 34% so far in 2022. NVDA stock is set for earnings next month but peer AMD is out next week. It's fair to say 2022 has not been a good one for investors in semi conductor stocks. After a surging year in 2021 investors would have been hoping the strong momentum was set to continue into 2022. With Wall Street largely backing up that thesis with a string of bullish price targets investors have been left holding some of the worst-performing stocks of the year so far. Added to the mix of course have been fresh headwinds in the shape of the Ukraine war as well as old problems around covid lockdown with factories in Shanghai once again feeling the pinch as covid struck the city hard. NVDA stock news Of course the main problem for the tech sector and one NVDA cannot avoid has been the speed with which bond markets have sold off and so pushed yields higher. Tech stocks are usually more sensitive to rising yields, even those with strong balance sheets and positive cash flows. A case of being guilty by association. This theme picked up speed last week and Fed officials stepped up the hawkish narrative ahead of their imposed blackout this week before May's interest rate decision. So at least that's one relief. Other problems will not be so easily solved with China in mounting states of distress over lockdown and factory closures, none of which will help NVDA or the semiconductor sector. NVDA again is guilty by association from the FaceBook and Netflix debacle. Netflix dropped a massive 36% after losing subscribers and now all the focus is on Facebook after something similar last time around. NVDA cannot avoid these tech spillover effects and the stock made a new low for the year on Friday breaking the psychological $200 level. Bank of America recently reiterates its ambitious $375 price target and said the sell-off may be overdone. However, it appears Mr. Market does not agree. Most Wall Street analysts fail to take a look at the broader market sentiment when issuing price targets and right now that is what is dominating the market. NVDA stock forecast Breaking $206 will likely set the tone for further losses on Monday and into the remainder of the week. However, this week is tech week earnings so these must be watched as that will drive investor sentiment to the tech sector for the next quarter. Apple, Google, Qualcomm, Microsoft, Facebook and Amazon are up this week on the earnings front so really this week is a make or break for the tech sector. The Fed hawks are in a blackout so some good earnings could help stem recent losses for the sector. There was the possibility of the strong downtrend ending once NVDA stock set a fresh high on Mach 29. But this needed the lows at $206 to hold which has now broken. All that has meant the March 29 high was another lower high when compared to all-time highs and now breaking $206 has put in place a lower low. $206 now becomes resistance. $178.66 is the next support, the low from July and below a move to sub $140 cannot be ruled out as the point of control lies there. Volume is now light until we get toward $140. These levels are targeted so long as NVDA stock sits below $206. Breaking back above $206 puts us on watch for a move to the 200-day moving average at $244. NVDA stock chart, daily
Ether (ETH), (BTC) Bitcoin, LUNA, NFT - They All Plunges! Crypto Market Crash Aka "Cryptogeddon" | Conotoxia

Crypto Crash!? Top 3 Price Prediction Bitcoin (BTC), Ethereum (ETH), Ripple (XRP): Cryptos Hang By A Thread As Bulls Disappear

FXStreet News FXStreet News 25.04.2022 16:44
Bitcoin price slowly descends below the 200 three-day SMA, indicating a lack of buying pressure. Ethereum price looks ready to breach the support confluence, extending from $2,800 to $3,000. Ripple price reenters the buy zone, extending from $0.626 to $0.689, suggesting that there is still hope. Bitcoin price has slid below a crucial support level slowly indicating that the sellers are overwhelming the buyers into a slow death. Although the last two times BTC tagged this barrier, it resulted in a bullish move, this time around, things are different and could head south. Ethereum, Ripple and altcoins could see a similar bearish fate. Bitcoin price at wits’ end Bitcoin price set up an ascending parallel channel on a three-day time frame after connecting the three swing highs and three swing lows since January 13. The last two times BTC dropped lower, it tagged the 200 three-day Simple Moving Average (SMA) and bounced off aggressively. Read next: A Reward For A Transaction!? What Is Kishu Inu Coin? ($KISHU) Let's Take A Look At This New Altcoin | FXMAG.COM However, this time, BTC is slowly breaching the said SMA and is heading close to the ascending parallel channel’s lower trend line. Until a breakout from the lower trend line, the setup is bullish and could see Bitcoin price bounce from it. The resulting upswing could see BTC retest the 50-day and 100-day SMA at $42,074, $41,076. Clearing these hurdles could see the big crypto push toward the yearly open at $46,198 and in some cases, the $50,000 psychological level. BTC/USDT 3-day chart A daily candlestick close below the $34,752 support level will invalidate the ascending parallel channel and the bullish thesis. Ethereum price at make-or-break moment Ethereum price action seems to be degrading with the recent downswing in Bitcoin price. The bears have pushed ETH lower into the support cluster, extending from $2,800 to $3,000. This footing is significant since it contains a demand zone and a bullish crossover of the 50-day and 100-day Simple Moving Averages (SMAs). Read next by FXStreet: Gold Price Forecast: XAUUSD recovers from intra-day dip under $1930, but still pressured as yields/USD rise| FXMAG.COM So far, ETH has pierced through both the SMAs and is edging closer to the lower limit of the said demand zone. However, a quick recovery followed by a bounce is likely to result in an upswing for ETH. The resulting move could cause ETH to retest the 200-day SMA at $3,495 and the low-volume node at $3,703. Any uptick beyond these levels will require massive bullish momentum spikes and is highly unlikely without the big crypto’s support. ETH/USD 1-day chart A daily candlestick close below the support cluster’s lower limit at $2,820 will create a lower low and invalidate the bullish thesis. This development could crash ETH to retest the next high-volume node present to the downside at $2,584. Ripple price approaches a launching pad Ripple price has taken another U-turn and reentered the buy zone, extending from $0.62 to $0.68. This move is likely to push XRP price to retest the 70.5% retracement level at $0.657 before triggering an uptrend. Read next: Skyrocketing Altcoin? Why (SHIB) Shiba Inu price is set for a 15% value increase | FXMAG.COM The resulting uptrend could push XRP up by 17% to retest the 2022 volume point of control at $0.772, where the trade volume for Ripple was at its highest. If the remittance token manages to flip this hurdle into a footing, there is a good chance the run-up will continue to and tag the $0.854 hurdle. Failing to do so could result in a local top formation. XRP/USD 1-day chart On the other hand, if the Ripple price breaks below the $0.601 support level and produces a lower low, the bullish thesis will face invalidation. In such a situation, XRP might crash to the $0.548 support level before stabilizing and reestablishing its directional bias.
Gold Price (XAUUSD) May Shock Investors! Trading plan for Gold on June 21, 2022 | InstaForex

Gold Price Forecast: XAUUSD recovers from intra-day dip under $1930, but still pressured as yields/USD rise

FXStreet News FXStreet News 22.04.2022 16:47
Gold Prices have recovered back into the $1940s from earlier sub-$1930 lows after finding support at the 50DMA. But XAU/USD still trades substantially lower on the day and versus earlier weekly highs at $2000. The backdrop of rising US yields and a strong US dollar have been unfavorable for gold. Spot gold (XAU/USD) prices have seen a decent intra-day bounce from earlier sub-$1930 lows back to the mid-$1940s, with the 50-Day Moving Average at $1936 offering strong support. But the precious metal continues to trade with losses of about 0.4% on the day, having ended Thursday trade to the north of the $1950 level. Gold continues to struggle to gain traction against a backdrop of still rising US yields (on Friday mostly at the front-end of the curve) and a strong US dollar, with markets pricing in a more aggressive Fed tightening cycle. In the last few days, in wake of Fed Chair Jerome Powell and other Fed policymakers opening the door to 50 bps rate hikes (some even hinted at larger moves), big US banks have been falling over themselves to hawkishly revise their Fed policy change calls. Nomura was in the headlines with a prediction that after a 50 bps rate hike in May the Fed would then follow up with a further two 75 bps rate hikes in June and July. This isn't a good backdrop for gold. Rising interest rates mean the "opportunity cost" of holding non-yielding assets like gold has gone up and this tends to dent demand. The Fed now goes into blackout ahead of the 3-4 May meeting, meaning precious metals might get some respite in the days ahead from hawkish Fed-related bearish flows. The big question investors will face next week will be whether 1) gold can make headway back towards this week's $2000 highs amid demand for inflation/stagflation protection as growth fears rise and geopolitical tensions remain elevated, or 2) will gold continue dropping towards recent lows in the $1900 area amid an unfavourable macro backdrop. Gold Price technical analysis On an hourly scale, XAU/USD has formed a double bottom chart pattern, which signifies a bullish reversal amid the absence of high-volume sellers while re-testing the critical bottom. The gold prices have witnessed a sheer upside after the successful retest of Wednesday’s low at $1,939.31. The Relative Strength Index (RSI) (14) has defended itself from slipping into the bearish range of 20.00-40.00. Also, the precious metal has established above 20-period Exponential Moving Average (EMA), which signals more gains ahead. Gold Price hourly chart On the other hand, the W-formation could be problematic and a restest of the neckline could be in order: Additionally, the daily wick and bearish close is a bearish formation which could give rise to a mitigation of the early April rally's imbalance of price for a test into a deeper demand area: On the other hand, the M-formation is also compelling on the daily chart and should bulls commute at hourly support, then the neckline would be expected to pull the price in.
Tech down, energy up as inflation, recession fears mount | MarketTalk: What’s up today? | Swissquote

Skyrocketing Altcoin? Why (SHIB) Shiba Inu price is set for a 15% value increase

FXStreet News FXStreet News 22.04.2022 16:47
Shiba Inu price sees losses being paired back instantly. SHIB price overall in a wedge that looks set to break to the upside. Although still some way off, catalyst events over the weekend could trigger a preemptive breakout. Shiba Inu (SHIB) price slipped in late trading hours on Thursday after earnings shook the markets. Instead of seeing a continuation to the downside, bulls have already pared back most of the incurred losses and are back on track to test the sloping side of a wedge pattern. Add to that the fact that there is a catalyst event this weekend with the French elections, where Macron is set to win according to the polls, and price action is set to pop in favour of bulls. SHIB price set to shift to the upside over the weekend Shiba Inu price is under the pressure of the red descending trendline that kicked in on April 13. Since then, it has withstood two tests followed by a rejection to the downside. But looking from the downside, the green ascending trend line that for now only holds one test is squeezing buyers and sellers towards each other with lower highs and higher lows. SHIB price is thus in the process of an explosive cocktail once buyers and sellers are so close to one another that a simple catalyst is enough to set a spark to SHIB price to either make a big pop or nose dive move. The biggest known catalyst is the French election over the weekend, where Macron is gaining further in the polls and deepening his lead. Assuming he wins, expect to see a sigh of relief on Monday, helping cryptocurrencies to thrive in a risk-on background, where SHIB price is set to pop above $0.00002550 towards $0.00002800, returning 15% of value to your portfolio. SHIB/USD 4H-chart As with any catalyst, the predicted outcome can always surprise in the opposite direction. The French elections could send a shock through the whole political equilibrium of Europe if a far-right president was elected. In such a scenario, expect to see a drop in the euro, feeding dollar strength and, in its turn, a spillover into cryptocurrencies with downward pressure as a result. SHIB price would then drop to $0.00002350 and possibly slip below $0.00002250.  
Apecoin (APE) Makes Five Attempts at Breaking out From Descending Resistance Line | BeInCrypto

Record-Braking (APE)!? How ApeCoin entry to the Metaverse can send APE price to new all-time highs

FXStreet News FXStreet News 21.04.2022 16:47
ApeCoin price is likely to retrace to stable support levels after a 60% ascent. This downswing will set a base around $13.59 before exploding to a new all-time high at $22.05. A three-hour candlestick close below $12.53 will invalidate the bullish thesis for APE. ApeCoin price is undergoing a retracement after the massive run-up triggered on April 18. This move is likely going to allow bulls to recuperate for the next leg that will shatter through the current ceiling and set a new all-time high. The extremely optimistic outlook makes sense considering the rumor mill that has been churning since April 20. The talk of the crypto twitter is that APE tokens will be a medium through which holders can purchase land in a metaverse that is being launched by YugaLabs, the owner of the popular Bored Ape Yacht club. Read next: (XAGUSD) Price of Silver Vs. U.S Yields, Lumber and Corn Futures Dependent on Demand and Supply | FXMAG.COM ApeCoin price readies for next move ApeCoin price set a swing low at $9.52 after crashing 45% from its all-time high. This downswing set the lower limit and was followed by a 62% run-up that set a local top at $15.53. Since this range was established, APE has been traversing inside it. On April 18, ApeCoin price kick-started a 62% upswing that pushed it through the previous all-time high at $17.46 and set a new one just above it at $17.53. Since this peak, investors have been booking profits, leading to a retracement. So far, ApeCoin price has dropped 16% and is likely to continue heading south until it encounters the $13.59 support level. If the buying pressure picks up, it will indicate that the bulls are interested in accumulating APE at a discount. Read next: Unexpectedly Gold Price (XAUUSD) Falls, Canada And Chicago - Weather Makes Wheat Futures Fluctuate. The Price Of Palladium - Industrial Activity Is Taking Strain | FXMAG.COM Therefore, a foothold formation here could be the key to catalyzing the next leg that pushes ApeCoin price beyond the current all-time high and make a run at the $20 psychological level. Using the trend-based Fibonacci extension, the next target at the 100% extension is $22.05. This move from $13.59 to a new all-time high at $22.05 would constitute a 61% gain and is likely where the top will form for APE. APE/USDT 3-hour chart On the other hand, if Bitcoin price continues to descend, there is a good chance ApeCoin price will follow suit. In such a case, APE is likely to slide lower and retest the 50% retracement level at $12.53. Read next: ECB Announcements to Possibly Tighten Monetary Policy Strengthens the Euro. EUR/USD, EUR/GBP, AUD/NZD and EUR/CHF All Increased | FXMAG.COM This development will provide sidelined buyers another chance at accumulating the altcoin. However, a three-hour candlestick close below $12.53 will invalidate the bullish thesis for ApeCoin price and suggest the possibility of a retest of the range low at $9.52.
Investing In Stocks: AMC Entertainment Holdings Stock News and Forecast: AMC drops again, but a bounce may be in the cards

Investing In Stocks: AMC Entertainment Holdings Stock News and Forecast: AMC drops again, but a bounce may be in the cards

FXStreet News FXStreet News 21.04.2022 16:47
AMC stock suffers a sharp 7%-plus fall on Wednesday, closing at $17.34. AMC now accepts Dogecoin and Shiba Inu on AMC's mobile app. AMC stock fell sharply in 2022, down 36% YTD. AMC remains the king of social media, but the stock itself is failing to excite as it suffers a gradual decline in sentiment and strength. AMC stock surged after its investment in Hycroft Mining (HYMC) with AMC stock trading as high as $34.33 at the end of March. Since then it has largely been one way traffic, and as of Wednesday's close AMC stock finds itself almost 50% lower from those highs. The reason as ever can be put down to falling momentum, both in terms of price and social media mentions. Trading AMC and other meme stocks largely concerns momentum trading, so knowing when it is rising and falling is key.   Read next: (XAGUSD) Price of Silver Vs. U.S Yields, Lumber and Corn Futures Dependent on Demand and Supply | FXMAG.COM   Classic signs of rising stock momentum we look for are obvious social media site mentions, volume spikes and price spikes of course. How to spot falling momentum and know when to get out of momentum plays is definitely more tricky. Some obvious signs are falling social media mentions, falling volume and the regular session price not reaching premarket highs. Also the opening price is close to the high of the day, while the closing price is near the low of the day's range. AMC Stock News AMC is a constant near the top of social media mentions, and that has not changed despite the recent price falls. The last major spike was down to the investment in Hycroft Mining (HYMC). This created a frenzy, but another key sign to watch for in momentum plays is when a price spike ends at a lower high than the last price spike. In this case AMC spiked to $34.33, which as we can see from the chart below failed to break the downtrend line. We then saw 13 down days out of the next 16 sessions. AMC not only failed at the downtrend line, it also failed at the 200-day moving average.   Read next: Unexpectedly Gold Price (XAUUSD) Falls, Canada And Chicago - Weather Makes Wheat Futures Fluctuate. The Price Of Palladium - Industrial Activity Is Taking Strain | FXMAG.COM   While many of you are in AMC for more emotional reasons, we would always urge a lack of emotion when trading. This is not an us versus hedge fund crusade or an us versus short seller crusade. This is about making money for yourself, plain and simple. The AMC investment in HYMC was quite small, and despite HYMC stock surging, it was never going to yield significant cash to justify AMC's stock price rising so much. Once momentum dropped off, the resulting fall off was inevitable. AMC Stock Forecast: Expect the bounce Right now, AMC is just testing the $17 support, but this looks more and more like it may break in the near term. Right now though the Money Flow Index (MFI) has moved into an oversold area, but the Relative Strength Index (RSI) is not confirming this move. That makes us cautious of issuing a more bearish call – well, that and the sheer size of the fall over the last two weeks. There is a 50% chance we should see at least some small bounce. AMC stock chart, daily   Read next: ECB Announcements to Possibly Tighten Monetary Policy Strengthens the Euro. EUR/USD, EUR/GBP, AUD/NZD and EUR/CHF All Increased | FXMAG.COM   The short-term, 15-minute chart shows us some key levels for intraday trading. Volume at $17 is high, so this is our support on daily and intraday time frames. AMC can bounce through the volume gap up to $18 where again there is a large equilibrium volume profile. AMC stock chart, 15-minute
US inflation has peaked, but it will be a long slow descent | ING Economics

What A Plunge! MULN stock falls 10% in first hour of Wednesday's regular session

FXStreet News FXStreet News 20.04.2022 17:01
MULN stock keeps going lower as momentum collapses. MULN closes on Tuesday down just over 8% at $1.69. MULN stock is down yet again in Wednesday's premarket. The trend continues on Wednesday as MULN starts the regular session down 2% but is quickly moving lower as the day progresses. MULN stock at the time of writing is down 10% after just forty minutes of the regular session. Breaking $2.06 has led to a complete loss of momentum and the stock remains under the spectre of the Hindenberg report. Short selling may not be to everyone's taste but it is an essential element of a normal functioning market as is questioning the perceived wisdom. Just as we question politicians and governments why should we not be able to question companies and their leaders? Some are guilty of being less than truthful and the better and honest short-sellers seek to identify this and yes profit from it. We have no insight to add on the Hindenburg report's accuracy but clearly, it is having a continued effect on MULN, especially as the company has, as far as we are aware, yet to address any of the questions raised. That is their right but investors are clearly losing faith. That is meme stock dynamics and shows how volatile these names can be MULN stock is gone, and maybe it is time to move on. Harsh, but that appears to be what the market is telling us. Five successive days of heavy losses has seen MULN stock fall from $2.71 to $1.69. It may not sound that much, but in percentage terms that is a loss of 37.6% in the space of five days. That is meme stock dynamics and shows how volatile these names can be. Read next: Altcoins' Rally: Solana (SOL) Soars Even More, DOT and SHIBA INU Do The Same! | FXMAG.COM MULN Stock News: Momentum, the only game in town By and large, penny stocks and most meme stocks are all about momentum. This is not value investing or even traditional growth investing. It is highly speculative and riding momentum. Not a problem but getting attached to a stock or a cause is not likely to lead to a profitable trading career, so we would always urge traders to focus on price. If it is telling you to get out, then it is time to do exactly that. If it is riding higher, then stay on as long as possible. Various sites on the internet track social media mentions or trends How do you tell when momentum is fading? In meme stocks there are a few metrics we check. First, there are social media mentions. There is a reasonable correlation between social media mentions and meme stock performance. Various sites on the internet track social media mentions or trends. This can be useful. Related article: Japanese Yen (JPY) Weakens Against The Dollar, USD/CAD Stable And The Inevitable Strengthening Of The USD, IMF/World Bank Events Second – volume and price. When the frenzy is peaking, volumes will be huge and price gains will also be huge. For the most part, getting out on the first down day is the key. Or in fact, getting out on the first day where the close is lower than the open or a premarket spike is also a good indicator of falling momentum and sentiment. Onto Mullen Automotive itself, we are now likely all aware of the contents of the Hindenburg Research report. There has been little of note from Mullen in relation to this. They are not obliged to do so, but failing to address such a critical report does not give us confidence. The filing says Mullen may sell up to 253,109,032 shares of common stock. The only news of note has been an SEC filing in relation to a stock offering. The filing says Mullen may sell up to 253,109,032 shares of common stock. This filing is dated Friday, April 15. On Monday, April 18, Mullen issued a press release that it was to begin EV battery production at its plant in Monrovia, California. This caused MULN stock to spike briefly in the premarket by 10% before quickly collapsing. This again is a fading momentum sign. The premarket is often where the large spikes happen, but follow-through is more difficult once the regular session begins. The reason is the lack of liquidity in the premarket. With little trading, it is easier to move the price of a stock. MULN Stock Forecast: $2.06 is the last straw Technical analysis on penny stocks is not a great fit, but we can see how breaking $2.06 brings MULN back to a target now of $1. We have a declining Relative Strength Index (RSI), Money Flow Index (MFI) and Moving Average Convergence Divergence (MACD). All momentum is gone. There may be occasional spikes, but we would expect them to fail below previous spikes. MULN stock chart, daily  
Global equities staged a notable rally | Saxo Bank

DOGE About To Increase By 35%!? Altcoins - Dogecoin price is alive and well-positioned for 35% gains

FXStreet News FXStreet News 20.04.2022 17:01
Dogecoin price sees the 55-day SMA underpins bullish action. DOGE price set to jump towards the 200-day SMA, playing the range. With that move, Dogecoin price would gain 35% of value to $0.1800. Dogecoin (DOGE) price jumps as tailwinds in Europe overpower headwinds from the U.S., with bulls storming out of the gate and booking a three-day winning streak. The rally started on Easter Monday with the 55-day Simple Moving Average (SMA) and monthly pivot acting as entry levels, returning 10% of value to investors. In a range play towards the 200-day SMA, coinciding with the monthly R2 resistance, a 35% trade is a possible outcome for this rally. Related article: Japanese Yen (JPY) Weakens Against The Dollar, USD/CAD Stable And The Inevitable Strengthening Of The USD, IMF/World Bank Events DOGE price set to add $0.4 of appreciation Dogecoin price is rallying into its third day today within a rally that started on Easter Monday, where intelligent bulls used the limited trading volume to ramp up price action quite quickly. With markets coming back in on Tuesday, plenty of investors jumped into the spotted trade and could still comfortably place their stops below the 55-day SMA and the monthly pivot. Additionally, the current dollar weakness is helping to open up some more room and enlarge any intraday gains. This evening TESLA (TSLA) will come out with earnings after the closing bell DOGE price at first will face $0.1594, near $0.1600, with the monthly R1 resistance as the historical level as a double issue. From a trade management perspective, this would translate into a 1-to-1 trade setup with a 10% stop loss against 10% possible gains to be booked for investors entering at current levels around $0.1450. Should the dollar further back off and positive sentiment in the market pickup further, expect to see that trade turn into a 1-to-2.5 trade setup with a 10% stop loss and a possible 25% gain entering at current levels, with the profit target set at $0.18, which coincides with the monthly R2 and the 200-day SMA as double and robust resistance to the upside. DOGE/USD daily chart Read next: Altcoins' Rally: Solana (SOL) Soars Even More, DOT and SHIBA INU Do The Same! | FXMAG.COM This evening TESLA(TSLA) will come out with earnings after the closing bell, one of the most significant components in the NASDAQ. Seeing the correlation between the NASDAQ and cryptocurrencies, another setback after the significant 25% drop from NETFLIX (NFLX) could trigger a panic trade in markets, with investors quickly unwinding their positions at any price. That would trigger a drop below the 55-day SMA towards $0.1242.
(TWTR) Twitter Stock News and Forecast: What is a poison pill for TWTR stock?

(TWTR) Twitter Stock News and Forecast: What is a poison pill for TWTR stock?

FXStreet News FXStreet News 19.04.2022 16:36
Summary: Twitter stock rose over 7% on Monday to $48.45. Elon Musk previously tabled a $54.20 bid for TWTR. Twitter rejected Musk's offer and adopted a poison pill defense. Twitter (TWTR) stock rallied sharply on Monday as speculation intensified over potential bidders for the company. Latest reports show the company appears to definitely be in play with multiple suitors lined up to challenge Musk's bid. If you have been living under a rock, Elon Musk unveiled a 9.2% stake in Twitter only a couple of weeks ago. The Twitter board offered Musk a seat, which he rejected. This was likely an attempt at a "keep your enemy closer" strategy as board members cannot launch a takeover bid for the company. The rejection put Twitter in play, and subsequently Elon Musk offered to buy the remainder of TWTR stock for $54.20 in cash. He stated it was his final offer. Article on Crypto: Altcoins Showing Promising Growth - Take a Look at Solana (SOL), POLKADOT (DOT) and SHIBA INU (SHIB-USD)| FXMAG.COM Twitter Stock News Twitter apparently decided to fight Elon Musk's offer using what is known as a poison pill mechanism. Just what is a poison pill? Basically, it is akin to money printing – companies just print new shares to defend themselves. This puts more shares in play, meaning any potential buyer is diluted. A poison pill means that all shareholders except Elon Musk can buy shares in a discounted issue. Elon Musk's stake would be diluted while other holders get the chance to maintain their holding. In this case, Twitter has set the level at 15%. It can begin issuing shares if Musk goes over this threshold. Silver Lake reportedly was involved in 2018 when Elon Musk was planning to take Tesla private Musk may be about to face competition in his quest to land Twitter if the latest reports are to be believed. Apollo Global is reportedly interested in some form of participation in the deal, according to The Wall Street Journal. The WSJ article elaborated that Apollo Global could be in line to provide financing for the deal. Whether that is to Musk or another bidder remains to be seen. The New York Post said in an article on April 15 that Musk was speaking to investors that could partner with him on any deal for Twitter. Musk has a large fortune, but it is largely due to his Tesla holding. So to pay up for Twitter he could sell some of his Tesla shares or seek financing from private equity or Wall Street Investment Banks. The New York Post article mentions Silver Lake as a potential partner. Silver Lake reportedly was involved in 2018 when Elon Musk was planning to take Tesla private. Back in 2018 was the origin of the "funding secured" tweet, which ended up with a slap on the wrist from the Securities & Exchange Commission and a Twitter check for Elon's future tweets. Read next: (UKOIL) Brent Crude Oil Spikes to Highest Price For April, (NGAS) Natural Gas Hitting Pre-2008 Prices, Cotton Planting Has Begun There has also been talk that Thomas Bravo will enter the bidding. Thomas Bravo is a private equity firm and is looking at possibilities, according to Bloomberg and Reuters. Twitter Stock Forecast The spike from the initial announcement brought Twitter naturally up to Elon Musk's offer price at $54.20. Interestingly the price has never breached this level, meaning the market is not very confident that another buyer will emerge. It is not unusual for a stock to trade higher than a proposed takeover offer if the market believes other bidders will emerge. What we are witnessing here is the market's lack of confidence in Elon Musk getting his bid through as there are question marks over how he raises the cash. Twitter naturally went overbought on both Money Flow Index (MFI) and the Relative Strength Index (RSI) when the stock spiked. Now, these are back at normal levels. The stock remains in a classic downtrend, but short-term news flow will generate plenty of volatility, so traders need to keep aware of this. Twitter (TWTR) stock chart, daily
ETHER Hitting $5000!? Altcoins: (ETH) Ethereum - Five bullish signals that suggest Ethereum price could hit $5,000

ETHER Hitting $5000!? Altcoins: (ETH) Ethereum - Five bullish signals that suggest Ethereum price could hit $5,000

FXStreet News FXStreet News 19.04.2022 16:36
Ethereum price is stuck trading between the 50-, 100- and 200-day SMAs, lacking volatility. A triple bottom setup around $2,652 could be the key to triggering an 85% upswing to retest the all-time high at $4,868. A three-day candlestick close below $2,439 will invalidate this outlook and potentially trigger a crash to $1,706 or lower. Ethereum price has been on a downswing since its all-time high in November 2021, but the development of recent events suggests that a change is coming. While there could be a temporary drop, a massive upswing is likely to begin afterward.   Article on Crypto: Binance Academy: Immutable X Token (IMX) - What Is It? IMX Explained. How To Buy IMX?| FXMAG.COM Ethereum price at a junction Ethereum price set a swing low at $2,652 on September 19 and rallied 83% in under two months to set an all-time high of $4,868. This impressive upswing was followed by a 55% downswing that pierced the $2,652 swing low. These two touches around the same level could be foreshadowing a triple bottom setup. For this technical formation to be complete, ETH needs to slide lower by 13% and tag the $2,652 support level again. This move will complete the pattern and reverse the trend favoring bulls. In such a case, Ethereum price is likely to make a run at the 50% retracement level at $3,287. However, investors need to exercise caution around the 200-day Simple Moving Average (SMA) at $3,492 and the $4,000 psychological level, as Ethereum price might face headwinds there Clearing the midpoint and flipping it into a support level will open the path for a move toward the range high at $4,868. In total, this run-up would constitute an 85% ascent and is likely to extend to the $5,000 psychological barrier.   Article on Crypto: Altcoins Showing Promising Growth - Take a Look at Solana (SOL), POLKADOT (DOT) and SHIBA INU (SHIB-USD)| FXMAG.COM However, investors need to exercise caution around the 200-day Simple Moving Average (SMA) at $3,492 and the $4,000 psychological level, as Ethereum price might face headwinds there. Such a move is likely to push the Relative Strength Index (RSI) lower to the 38.16 level. The last two times RSI tagged this level was in June and July 2021, when ETH was forming a base that would eventually lead to a 185% gain. Therefore, the retracement forecasted by the technical perspective also supports a retest of the 38.16 level for RSI, hinting at a bullish outlook. ETH/USDT 1-day chart Supporting this optimistic outlook for Ethereum price is the exchange net position change indicator that tracks the 30-day outflow of ETH. Currently, this index shows that nearly 94,000 ETH has moved out of centralized entities’ wallets, suggesting a reduction in the sell-side pressure. Interestingly, this is the sixth time such a massive outflow has occurred, which in turn reveals the importance of this metric. ETH exchange net position flow.   Read next: (UKOIL) Brent Crude Oil Spikes to Highest Price For April, (NGAS) Natural Gas Hitting Pre-2008 Prices, Cotton Planting Has Begun Furthermore, the number of one-hour active addresses on the Ethereum blockchain has hit a new all-time high at 60,330. This uptick suggests that new users or investors are interacting with the ETH blockchain and is considered a bullish indication. ETH 1-hour active addresses Lastly, the long-term bullish outlook for Ethereum price is perfectly portrayed by the supply of ETH present on exchanges. This level has been in a downtrend since July 2020 and has slumped from 29.69 million to 14.96 million, representing an 11.73 million outflow of ETH in less than two years. This development suggests that more investors are disinclined to sell and are moving their holdings to cold wallets or to DeFi platforms to earn interest, which indicates that they are optimistic about the performance of Ethereum price. ETH supply on exchanges A three-day candlestick close below $2,439 will invalidate this outlook by producing a lower low. In such a case, ETH bears could seize control and trigger a 30% crash to $1,706, which will allow market makers to collect the sell-stop liquidity.
ING Economics: "Bank Pulse: Smaller banks more at risk with MREL compliance"

Medical Stocks: Veru Stock News: On this day last week VERU stock was trading around $4.50!

FXStreet News FXStreet News 15.04.2022 16:22
VERU stock is technically bullish as per the daily chart's structure. The price has bust towards the 2021 weekly structure and is taking on the resistance leaving a very strong weekly candlestick in place. If the bulls commit, then there is scope for a surge towards the psychological 20.00 mark. However, there could be a meanwhile correction according to the 4-hour chart as the price decelerates and potentially moves back to test the prior resistance near 13.80. VERU stock was in fact trading higher during premarket trading but has given up some gorund VERU stock is trading higher again on Thursday in the regular session as it trades at $14.93for a gain of just under 5% at the time of writing. VERU stock was in fact trading higher during premarket trading but has given up some gorund. On this day last week VERU stock was trading around $4.50! VERU stock returned to the skies on Wednesday as it added over 42% to recent gains following on from a slight lull on Tuesday. VERU spiked 182% on Monday before dropping nearly 20% on Tuesday as some profit-taking most likely hit. But buyers were once again out in force on Wednesday and VERU closed up at $14.30. For reference, on this day last week VERU stock was trading around $4.50! VERU stock news VERU went parabolic on Monday when news broke of a positive outcome from Phase 3 results of its covid drug sabizabulin. The drug showed a 55% reduction in deaths compared to the placebo treatment in hospitalized patients with moderate to severe covid-19. VERU is to apply to the US FDA for emergency use authorization. This was what sent VERU stock soaring as investors rushed to get a piece of the action. The analyst community was not far behind with some eye-catching price targets announced by Wall Street. According to Tipranks, Oppenheimer said “With the global pandemic showing little sign of abating and BARDA to be allocated $9.25B in additional COVID-19 funding, we believe sabizabulin will serve critical roles in the US and abroad.” Oppenheimer has put a $36 price target on VERU shares. We also note that Jefferies has a $33 price target and HC Wainright has a buy rating with a $24 price target. Brookline has a $29 price target and Cantor Fitzgerald has a $24 price target. So VERU has an average price target of $29.2 with every analyst having either a buy or outperform rating on VERU stock. So this one could have even more to run. From $10 to $23 in a matter of days after VERU announced positive Phase 2 trial data for Veru 111 Back in February 2021, we saw a similar spike in the VERU stock price. It went from $10 to $23 in a matter of days after VERU announced positive Phase 2 trial data for Veru 111: "Veru Inc., an oncology biopharmaceutical company, announced positive efficacy and safety results from a double-blind, randomized, placebo-controlled Phase 2 clinical trial evaluating oral, once-a-day dosing of VERU-111 versus placebo in approximately 40 hospitalized patients at high risk for Acute Respiratory Distress Syndrome (ARDS) from SARS-CoV-2". VERU stock forecast Technical analysis on pharma stocks is largely tabo given their extreme reaction to newsflow and test results. What is key is to keep the momentum going. As mentioned this has already happened on the news of the Phase 2 trial results. So it is important to be aware that a lack of newsflow could see VERU stock stall. That could provide some the opportunity to buy the dip. The next stage is to get emergency use authorization from the FDA and that could be the next catalyst. But the timing is unclear. $10 is someway significant and should hold any retracement, breaking $10 is not a good sign in our view. VERU stock chart, daily
A combination of fundamental factors can provoke Bitcoin to update the local bottom

(BTC/USD) Bitcoin Price Prediction 2022 - Weekly Forecast: What are the odds for a 2022 bull run

FXStreet News FXStreet News 15.04.2022 16:22
Bitcoin price shows signs of a strong rebound as it hovers around the $40,000 level. On-chain metrics are hinting at a massive bullish outlook from a long-term perspective. For the short-to-mid term scenario, BTC is likely to trigger a run-up to $50,000. Bitcoin price is positioned at a level that is likely to result in a quick run-up to key levels. The on-chain metrics are also suggesting the possibility of a spike in buying pressure that could trigger a full-blown bull run if certain hurdles are overcome. Bitcoin price and bullish technicals Bitcoin price has crashed 17% since April 4 and is currently bouncing off the 200 three-day Simple Moving Average (SMA) at $39,506. This downswing was a major bearish event as BTC dropped below the bullish crossover between the 50-day and 100-day SMAs. The Bitcoin price action from January 22 to March 15 has set up three higher highs and two higher lows, which when connected using trend lines, results in an ascending parallel channel formation. As seen, the swing lows have breached the 200 three-day SMAs, and the bodies of these candlesticks have closed above them. Therefore, investors can expect a minor downswing with a quick recovery before making a U-turn. "This move will take a massive surge in buying pressure to manifest" A bounce off the 200 three-day SMA is likely to trigger a full-blown reversal that will push BTC to overcome the 50-day, 100-day SMAs and tag the yearly open at $46,198. This move will take a massive surge in buying pressure to manifest. Hence, the upside for BTC could be capped at the yearly open but in some cases, the big crypto could retest the 200-day SMA at $48,169. BTC/USDT 1-day chart While technicals might be suggesting only a minor uptrend for Bitcoin price, on-chain metrics are indicating a far brighter future. Two of the most overly bullish indices are - supply on exchanges and net exchange position change. The total number of BTC held on exchanges has dropped to 1.91 million The first indicator tracks the number of BTC held on centralized entities and can serve as a guestimation of the selling pressure if things go wrong. Typically, a spike in this metric often leads to a sell-off. However, for Bitcoin, this indicator has been on a downtrend since March 2020. The total number of BTC held on exchanges has dropped to 1.91 million, a level last seen on December 6, 2018, indicating that the investors are confident in the performance of Bitcoin price. BTC supply on exchanges Further building on the bullishness is the exchange net position change indicator, which tracks the 30-day change in Bitcoins held on exchange wallets. Since March 2022, nearly 100,000 BTC have left exchanges. Moreover, such an extent of outflow was only witnessed five times in the decade-long history of BTC. All of this indicates that investors are betting on better performance of the big crypto over a longer timeframe. BTC exchange net position change Revealing a similar bullish outlook for Bitcoin price is the supply distribution by the balance of addresses. This index shows that there has been a net increase in whales holding between 100,000 and 1,000,000 BTC from 2.93% in December 2021 to 3.47% as of this writing. This uptick in accumulation is the most apparent indicator suggesting the intent of institutional investors. BTC supply distribution chart A popular on-chain analyst with the screen name ‘TechDev’ tweeted that the market has been in a year-long retracement and that an impulsive is likely. He explains that major buy signals are popping up on different fronts. The first and the most obvious indication is the bullish flip and retest of the 100-day Moving Average (MA). Interestingly, a similar setup was seen before the start of the 2017 bull rally, adding weight to the recent signal. Lastly, the dollar index (DXY) is also approaching a local top Moreover, the altcoin market cap has also moved above the Exponential Moving Average (EMA) ribbon and is currently retesting it. Again, a similar setup was seen in 2017, before altcoins saw a massive rally. Lastly, the dollar index (DXY) is also approaching a local top, which was a familiar structure seen before the start of the 2017 run-up. Combined with the hands-on approach of the Federal Reserve in hiking the interest rates, there is bound to be a retracement in DXY, which will pave the way for capital rotation into hard assets like Bitcoin. TechDev’s case for a bull run Therefore, investors need to be aware of the sell-stops present below the $30,000 level as BTC might crash lower to sweep this liquidity All in all, Bitcoin price seems to be positioned perfectly to kick-start a massive bull rally and on-chain indicators are actively supporting this outlook. However, a daily candlestick close below the $34,752 support level will make sure that BTC will continue heading lower. Such a development could trigger a crash to look for stable support levels. Therefore, investors need to be aware of the sell-stops present below the $30,000 level as BTC might crash lower to sweep this liquidity before triggering a 2022 bull rally.
🔥 SHIBA Volatile Move Ahead: Triangle Analysis

Meme Coins: (SHIB) Shiba Inu price could double after 2.41 billion SHIB get burned

FXStreet News FXStreet News 14.04.2022 17:03
Shiba Inu price to rise, as 2.4 million Shiba Inu tokens are burned, reducing SHIB’s supply under circulation. Large wallet investor accumulates $20.4 million worth of Shiba Inu, fueling demand for the meme coin. Analysts are bullish on Shiba Inu price, and expect the Dogecoin-killer to double soon. Shiba Inu price is on track to make a comeback from the recent pullback and double in the near future as the meme coin’s circulating supply shrinks further. Analysts reveal a bullish outlook on Shiba Inu price. Shiba Inu price set to explode as supply continues to shrink The second reason for Shiba Inu’s breakout is whale accumulation Shiba Inu price made a comeback after posting nearly a 5% drop over the past two weeks. Proponents have identified two key reasons behind Shiba Inu’s price rally. The key reason is the recent burn of 2.41 million SHIB tokens sent to inferno wallets. Shiba Inu sent to dead wallets is pulled out of the circulation, contributing to a supply crisis. The community has contributed to burn events, which typically influence Shiba Inu price positively. The second reason for Shiba Inu’s breakout is whale accumulation. Large wallet investors on the Ethereum network have consistently scooped up Shiba Inu during the dips, increasing their SHIB holdings and diversifying their portfolio. An Ethereum whale recently purchased $20.4 million worth of SHIB, driving a bullish outlook among investors in the community. Historically, rising scarcity in the Dogecoin-killer token, Shiba Inu, and increased demand and real-world adoption have fueled a rally in its price. FXStreet analysts believe Shiba Inu price could double in the near future, and a unique buying opportunity has presented itself to traders. Analysts have set the upside target at $0.0000454 and believe the upswing could push Shiba Inu to $0.0000500 with adequate momentum. Analysts are watching out for a retest of the $0.0000211 support level to confirm the bullish prediction.
US Stocks: S&P 500 (-2.01%), Nasdaq (-2.98%) And Dow Jones (DJI) (-1.58%) Decreased. Japan: Nikkei 225 Has Gone Down

Elon Musk-Twitter Offer - NYSE: Twitter (TWTR) Stock News and Forecast: TWTR stock rallies as board meets at 10am EST to consider Elon Musk-Twitter offer

FXStreet News FXStreet News 14.04.2022 17:03
TWTR stock rallies sharply to over $50 as Elon Musk offers $54.20 cash. TWTR stock had closed Wednesday at $45.85. TWTR stock is down over 30% in the past 12 months. The Twitter board is set to meet at 10am EST to consider Elon Musk's offer to buy the company for $54.20 in all cash. TWTR shares have given up some ground from where they were trading in the premarket and currently sit at $46.65. Twitter (TWTR) stock is back at the top of the chart in Thursday's premarket as it spikes on the back of Elon Musk offering to buy the company. Twitter (TWTR) stock news Elon Musk has offered to buy Twitter (TWTR) for $54.20 all cash. Elon Musk recently made headlines when taking a large stake in the company and now this appears to be his possible end game. Reuters reports that Elon Musk delivered a letter to Twitter on April 13 detailing his proposal. "My Offer Is My Best And Final Offer"; Says If Offer Is Not Accepted, "I Would Need To Reconsider My Position As A Shareholder"..."I Don't Have Confidence In Management Nor Do I Believe I Can Drive The Necessary Change In The Public Market"-Reuters. "I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy," Musk told Twitter Chairperson Bret Taylor on Wednesday, as disclosed in an amended SEC filing on Thursday morning. "However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company."-Benzinga. Wow, well Elon Musk certainly knows how to keep things interesting. Twitter (TWTR) stock rallied sharply up to $53.99 before retracing slightly to trade at $50.93 at the time of writing for a gain of 11%. Twitter (TWTR) stock forecast The current spike is topping out just where Twitter (TWTR) spiked on the previous disclosure of Elon Musk's stake. This then looks like a classic bearish double top. Newsflow is likely to be the main driver here rather than technicals but this is interesting if Elon Musk steps away as his "I Would Need To Reconsider My Position As A Shareholder" hints at. The best and final offer does seem to put a top on the price for now unless some other bidder emerges for Twitter (TWTR). TWTR stock chart, daily-Tradingview
ECB April Preview: Quicker end to QE to help euro recover

ECB April Preview: Quicker end to QE to help euro recover

FXStreet News FXStreet News 13.04.2022 16:55
Euro has been struggling to find demand since the beginning of April. ECB is widely expected to leave key rates unchanged. A hawkish shift in ECB's policy outlook could trigger a steady rebound in EUR/USD. EUR/USD is already down more than 2% in April amid the apparent policy divergence between the Federal Reserve and the European Central Bank (ECB). The European economy is widely expected to suffer heavier damage from a protracted conflict between Russia and Ukraine than the US economy, and the Fed remains on track to hike its policy rate by 50 basis points in May. The shared currency needs the ECB to adopt a hawkish policy stance in order to stay resilient against the greenback. In March, the ECB left interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50% respectively. The bank further announced that monthly net purchases under the Asset Purchase Programme (APP), which were initially planned to end in the fourth quarter, will amount to €40 billion in April, €30 billion in May and €20 billion in June before ending in the third quarter. Related article: ECB Interest Rate Decision Is Coming! European Indices (DAX, CAC40) To Plunge Or Rise? What About Forex Pairs? The accounts of the ECB’s March meeting revealed earlier in the month that a large number of the governing council members held the view that the current high level of inflation and its persistence called for immediate further steps towards monetary policy normalization. Hawkish scenario The ECB could decide to adjust the monthly purchases to open the door for a rate hike in the second half of the year if needed. The bank might keep the purchases under APP unchanged at €40 billion in April but bring them down to €20 billion in May to conclude the program by June. Even if the policy statement refrains from offering hints on the timing of the first rate increase, such an action could be seen as a sign pointing to a June hike. In a less-hawkish stance, the bank may choose to leave the APP as it is but change the wording on the QE to say that it will be completed in June rather than in Q3. ECB President Christine Lagarde’s language on the timing of the rate hike will be key if the bank decides not to touch the APP. During the press conference in March, Lagarde noted that the rate hike would come “some time” after the end of QE. If Lagarde confirms that they will raise the policy rate right after they end the APP, this could also be seen as a hawkish change in forward guidance. Dovish scenario The ECB might downplay inflation concerns and choose to shift its focus to supporting the economy in the face of heightened uncertainty by leaving the policy settings and the language on the outlook unchanged. The euro is likely to come under heavy selling pressure if the bank reiterates that the APP will end in the third quarter as planned. That would push the timing of the first rate hike toward September and put the ECB way behind the curve in comparison to other major central banks. According to the CME Group FedWatch, markets are pricing in a more-than-60% probability of back-to-back 50 bps hikes in May and June. Conclusion The ECB is likely to respond to the euro’s weakness, aggressive tightening prospects of major central banks and hot inflation in the euro area by turning hawkish in April. For EUR/USD to stage a steady rebound, however, the bank may have to convince markets that they are preparing to hike the policy rate by June. On the other hand, there will be no reason to stop betting against the euro if the bank chooses to leave its policy settings and forward guidance unchanged. EUR/USD technical outlook EUR/USD closed the previous seven trading days below the 20-day SMA and the Relative Strength Index (RSI) indicator stays below 40, suggesting that bears continue to dominate the pair’s action. On the downside, 1.0800 (psychological level, March low) aligns as first support. With a daily close below that level on a dovish ECB, EUR/USD could target 1.0700 (psychological level) and 1.0630 (March 2020 low). Key resistance seems to have formed at 1.0900 (psychological level, static level). In case this level turns into support, a steady rebound toward 1.1000 (psychological level, 20-day SMA) and 1.1100 (static level, psychological level) could be witnessed.
Electric Car Stocks: MULN stock falls further on Wednesday after Tuesday's losses

Electric Car Stocks: MULN stock falls further on Wednesday after Tuesday's losses

FXStreet News FXStreet News 13.04.2022 16:55
MULN stock continues to suffer, closing down 7% on Tuesday. MULN stock is suffering in the wake of a negative report from Hindenburg Research. MULN stock is now down to $2.47 from highs above $4 in late March. The hangover from the Hindenburg report appears to be continuing for MULN stock on Wednesday as it loses more ground in the early stages of the regular session. MULN stock is trading at $2.4 for a loss of 3% after just seven minutes of Wednesday's session. Investors are still digesting the various newsflow in relation to the company and as far as we are aware MULN has not commented on the recent developments. Social media remains the place where traders are going to look for more info, never a great hutning ground for timely and accurate information. Analysis: Lumber Price, Uranium Price and Crude Oil - Commodities in the Current Market Risk appetites wanted and equities closed lower MULN stock lost more ground on Tuesday as investors continue to digest and argue over the Hindenburg report. MULN stock had attempted to open positively on Tuesday as the overall market was buoyed by the core CPI number actually being less than expected. Risk assets looked to outperform after recent losses and MULN stock opened flat before trading modestly higher. However, as the session wore on it was not just MULN that suffered a turnaround. Risk appetites wanted and equities closed lower. MULN stock was not immune and dropped sharply to close 7.1% lower at $2.47. MULN stock news Really there is not much fresh information to go over here. We had the sharply critical Hindenburg report calling Mullen another fast-talking EV hustle. Then there was some form of additional commentary earlier this week from a youtube interview with the CEO of the battery testing company that tested Mullens battery. All in all, confusion reigned and that was part of the reason for the recovery in MULN stock earlier this week. Volatility after all is a key feature of the stock. So confusion raged and the debate kicked off on social media with MULN stock remaining high on the most discussed lists of many stock sites. Short interest was mentioned as it appears to have grown above 20%. But with the huge recent volume, the days to cover have lessened so this will reduce pressure on shorts positions to cover. Tuesday's price fall will also naturally lessen pressure on short positions. MULN stock forecast Each spike in MULN stock is generally met with a sell-off and each spike fails at a lower and lower level. So a classic downtrend. This is high-risk penny stock investing so take necessary caution. Penny stocks are notorious for volatility among other issues. MULN stock looks to be headed straight back down, the spike has failed, and now support at $2.06 is likely to be broken. Next up below is a test of $1. MULN stock chart, daily
USD/JPY reverses the post-US CPI slide, flat-lined around 125.25 region

USD/JPY reverses the post-US CPI slide, flat-lined around 125.25 region

FXStreet News FXStreet News 12.04.2022 16:38
USD/JPY witnessed aggressive selling following the release of the US consumer inflation figures.A sharp pullback in the US bond yields prompted USD profit-taking and exerted some pressure.The widening US-Japanese bond yield differential acted as a tailwind and helped limit losses.The USD/JPY pair quickly reversed the post-US CPI low to a fresh daily low and was last seen trading in neutral territory, around the 125.25-125.30 region.The pair retreated from the vicinity of the multi-year peak, around the 125.75 region and fell nearly 100 pips during the early North American session on Tuesday. The USD witnessed a typical "buy the rumour, sell the news" trade following the release of the US consumer inflation figures.The headline CPI accelerated to 8.5% YoY in March from the 7.9% previous, while the core CPI missed expectations and rose 6.5% YoY during the reported month. The data was not as bad as feared and forced investors to scale back their expectations for a more aggressive policy tightening by the Fed.This was evident from a sharp pullback in the US Treasury bond yields, which, in turn, prompted the USD bulls to take some profits off the table and exerted downward pressure on the USD/JPY pair. That said, a strong rally in the equity markets undermined the safe-haven JPY and helped limit losses.Moreover, investors remain concerned that the recent surge in commodity prices would put upward pressure on already high consumer prices. This should act as a tailwind for the US bond yields ad supports the prospect of the emergence of some USD dip-buying and lend support to the USD/JPY pair.Conversely, caution around the BoJ's intervention to defend its 0.25% yield target should cap the Japanese government bond. The resultant widening of the US-Japanese government bond yield differential suggests that any fall should continue to attract fresh buyers around the USD/JPY pair.
Will ApeCoin price make a run for the all-time highs in this upcoming rally

Will ApeCoin price make a run for the all-time highs in this upcoming rally

FXStreet News FXStreet News 11.04.2022 16:52
ApeCoin price has shattered its two-week downtrend by rallying 15%. This uptrend sets the stage for a further ascent that could propel APE to an all-time high at $17.46. A three-hour candlestick close below $9.64 will create a lower low and invalidate the bullish thesis. ApeCoin price action over the past day shows signs that the bulls are back in town. The initial upswing, while interesting, sets the stage for more gains to come for APE. ApeCoin price reveals a buy signal ApeCoin price has shed roughly 31% between March 28 and April 7 and shattered the $12.28 support level. This downtrend was undone after APE rallied by 15% on April 10, suggesting the start of an uptrend. An impulsive move often leaves behind demand zones, and for ApeCoin price, it extends from $10.82 to $11.12. As APE faces a resistance at $12.28, a retracement back to this support area seems likely. As bears pull the ApeCoin price lower into the demand zone, investors can begin accumulating as the resulting upswing on the retest of the said area will be key in triggering an upswing. In such a case, APE will rally by 10% to contest the $12.28 hurdle; flipping this level into a support floor will open the path for $14.43, indicating a 30% gain. In a highly bullish case, ApeCoin price could extend the run-up and tag its all-time high at $17.46. APE/USDT 3-hour chart Supporting the uptrend in ApeCoin price is the supply distribution chart. This index tracks the number of APE tokens held by institutions or high net worth investors. Investors that have 100k to 1 million APE tokens have increased from four to 152 since March 10, denoting a 3,700% increase. The same trend can be seen with the next category of wallets holding between 1 million and 10 million APE tokens. These investors grew in number from 183 to 192, suggesting a 5% increase in the same period. The spike in the number of whale wallets indicates that these investors are confident in the bullish performance of ApeCoin price. APE supply distribution Regardless of the bullish outlook for ApeCoin price, a breakdown of the $10.82 level will invalidate the three-hour demand zone and open the path for further correction. A three-hour candlestick close below $9.64 will create a lower low and invalidate the bullish thesis for ApeCoin price. In such a case, APE could crash to the $8.19 to $8.76 demand zone, in search of stable support areas.
Tesla Stock News and Forecast: Elon Musk turns down seat on Twitter board and enters Bitcoin mining

Tesla Stock News and Forecast: Elon Musk turns down seat on Twitter board and enters Bitcoin mining

FXStreet News FXStreet News 11.04.2022 16:52
TSLA stock plummets as Shanghai lockdown hits stock. CEO Elon Musk refuses a seat on Twitter board, signs deal with Block on BTC mining project. Tesla is due to report first-quarter earnings on April 20. Tesla (TSLA) stock is under pressure this morning with multiple newsflows in evidence. Tesla lost ground on Friday as it closed 3% lower and so far is replicating that loss in Monday's premarket. Fears over lockdown in China are hurting TSLA stock as are supply chain issues and input costs. Tesla (TSLA) stock news: Newsflows all over the place Tesla CEO Elon Musk is rarely out of the news and certainly made headlines last week when his 9.2% stake in Twitter (TWTR) stock was unveiled. However, this has now taken a fresh twist with Twitter CEO Parag Agrawal saying that Musk has turned down the offer to be a member of the board of TWTR. This brings up some interesting questions none of which we can answer. Probably most importantly does this mean Elon Musk wants a bigger stake in Twitter? Being on the board would have restricted Musk to a maximum stake but now he could go hostile if he is determined to take over the company. That seems unlikely. Perhaps as a board member, he may not have been as free to tweet as he would like. Whatever the reasons, it keeps investors in Tesla and Twitter guessing. Tesla shareholders will be more concerned with what is happening in China. Shanghai is in a state of lockdown and Tesla's giga-factory was forced to suspend production. NIO and other EV makers have also been affected, but Tesla is due to release earnings for the first quarter in two weeks and the latest data is not promising. Tesla assembled 55,462 units in China during March, compared to 68,117 in January. This is likely due to the aforementioned lockdowns. China is the world's largest EV market and recent signs are not good on a macro level. This morning we had a very high CPI number from China, meaning recent monetary policy loosening will now be more difficult to pursue. Also out this morning was data showing a drop in vehicle sales of 11.7% in March. The combination of a slowing Chinese market and limited Chinese production is not ideal. Separately, Tesla has reportedly entered into an agreement with Jack Dorsey's Block (SQ) on a Bitcoin mining project. Block and Blockstream are trying to show that Bitcoin can be mined using renewable energy. Finally, Reuters has reported that Tesla is to build a solar-powered facility in Texas. Tesla (TSLA) stock forecast The recent TSLA stock rally was exceptionally strong and caught many investors by surprise. This was market-wide though and not all down to Tesla. The failure to make a new high signaled we remain in a long-to-medium-term downtrend, though. We still have a series of lower highs and lower lows. The next target for TSLA stock should be to make a lower low, which means breaking $700. Resistance at $1,208 is the last major high, if that is broken then the downtrend is over and record highs beckon. The first target and support are $945. The recent move higher saw a sell signal from both the MFI (money flow index) and RSI (relative strength index). Tesla (TSLA) stock chart, daily
MATIC Price Prediction: Polygon price set to jump as  tailwinds broaden

MATIC Price Prediction: Polygon price set to jump as tailwinds broaden

FXStreet News FXStreet News 07.04.2022 16:31
Polygon price sees bulls performing kneejerk reaction in the RSI. MATIC price gains 2% during ASIA PAC and European session, set to rally back above $1.60. Expect to see MATIC close the trading week with gains and price near $1.75. Polygon (MATIC) price sees bulls performing a blow to bears with the Relative Strength Index (RSI) nudging upwards, triggering a bit of profit-taking amongst nervous short-sellers that possibly will not see their profit target met at $1.40 or $1.30. Up until Wednesday, MATIC price was dragging a lot of tail risk with it, but after the Fed Minutes, comments from US President Joe Biden and more sanctions on Russia coming from the EU, investors have all the pieces of the puzzle to move forward and place their investments. A warm tailwind joins Polygon price and could set the tone for Friday, rallying back to new highs for April. MATIC price is set to pop above $1.75 and the 200-day SMA Polygon price is performing a kneejerk reaction that hurts bears in the process. The renewed interest and trust in cryptocurrencies comes from investors fearing the Fed would make a policy mistake, trapping investors with hefty losses. Cryptocurrencies are always first on the chopping block in case a safe-haven flow is triggered. With a decent amount of tail risks fading or being resolved, investors see a window of opportunity to enjoy some new gains in the cryptocurrency markets, with MATIC as one of the ideal candidates. MATIC price is set to return up to $1.60, turning the 55-day Simple Moving Average (SMA) and the historic pivotal level at $1.57 back into support. From there, it is the ideal jumping point to stretch further and try to top $1.75, which falls in line with the 200-day SMA. If bulls can pull that off, and with the RSI not yet in overbought territory, new highs for the year could be just around the corner. MATIC/USD daily chart With more embargoes and sanctions being issued, the economic situation for Russia could start to bite even more. The US has already warned other countries not to make deals with Russia, or sanctions could be coming to them in an attempt to isolate Vladimir Putin completely. Should Russia retaliate with nuclear weapons, expect to see a sharp nosedive drop towards $1.20.
Sunshine BioPharma Stock News and Forecast: SBFM rally keeps going on breakthrough cancer treatment

Sunshine BioPharma Stock News and Forecast: SBFM rally keeps going on breakthrough cancer treatment

FXStreet News FXStreet News 07.04.2022 16:31
SBFM stock soared 148% on Tuesday on positive cancer mRNA news. Sunshine BioPharma shares then added another 12% on Wednesday to close at $6.29. The pharma company stock was up again in Thursday's premarket to $5.49. Sunshine BioPharma keeps capitalizing on a breakthrough treatment for breast and ovarian cancer. The pharma company announced earlier in the week that it had discovered a successful mRNA treatment for these illnesses, which has helped SBFM skyrocket. Within the first hour of Thursday's Wall Street trading, the Canadian pharmaceutical shares are up another 27% at the time of writing, right at the $8 mark, having set an $8.18 high in the past minutes. This makes it a 235% rise in the past two days since the announcement. Technical analysis is helpless within this kind of volatility, so momentum trading is what matters now for SBFM stock. Sunshine BioPharma has been one of the standout performers of the week with a staggering gain on Tuesday. SBFM stock immediately made it to the top of the charts on various social media stock chats and managed to hold those gains on Wednesday. Sunshine Biopharma is a biotech company that is focused on developing and bringing to market antiviral and oncology drugs. Sunshine Bioharma is a small or even micro-cap company with a market cap of just over $40 million. It was only listed in February on the Nasdaq. The company is based in Montreal, Canada and also has partnered with the University of Arizona for an anti coronavirus drug development. Sunshine Biopharma stock news: Anti-cancer discovery a multi-billion market opportunity SBFM stock soared due to the company announcing that its mRNA treatment for cancer was effective. Two mRNA molecules were able to treat cancer which was grown in culture. The cancer cells were breast cancer and ovarian. Toxicity studies ie effects on humans were also positive and the company says it hopes to file a patent for the treatments soon. The mRNA system is now widely known due to most covid vaccines using this technology. The mRNA vaccines work by introducing a piece of a viral protein into the human body. Human cells then produce this viral protein which induces an immune response and the body now produced antibodies to fight the virus. Once the human antibodies have destroyed the virus they are ready to deploy again if the virus is reintroduced to the body. That is the layman's version as I certainly am no scientist! Sunshine BioPharam said the potential of this discovery is a multi-billion global market opportunity. Pharma investments are usually high risk and depend on trial results and patents, but Moderna (MRNA) is the most obvious example of the huge potential should a company or stock hit a home run. Sunshine Biopharma (SBFM) stock forecast: Big spike to be followed by reversal? For now, this certainly looks like very positive news for SFBM stock but it is a long road to bring a drug to commercialization. So we would always urge caution. SBFM shares have spiked on the enthusiasm and the momentum generated. This will begin to stall once newsflow dries up and momentum dies down in SBFM stock. SBFM will then likely wait until the next data or patent news before reacting again. We can already see this in previous pharma stocks and indeed in SBFM itself. The chart below shows spikes followed by reversals before spiking again on more positive news. If SBFM stock follows a similar pattern you would expect it to stabilize somewhere around $4. SBFM stock chart, daily
FOMC March Minutes Preview: Will dollar rally pick up steam?

FOMC March Minutes Preview: Will dollar rally pick up steam?

FXStreet News FXStreet News 06.04.2022 16:45
FOMC will release the minutes of the March policy meeting on April 6.CME Group FedWatch Tool points to a more-than-70% probability of a 50 bps hike in May.US Dollar Index stays within a touching distance of multi-year highs.The greenback has started the month of April on a firm footing on the back of the latest data releases from the US and rising odds of a 50 basis points (bps) Federal Reserve rate hike in May. The US Dollar Index (DXY), which tracks the dollar’s performance against a basket of six major currencies, is already up nearly 1% since the beginning of the month.The Fed will release the minutes of the March policy meeting at 1800 GMT on Wednesday, April 6. On March 16, the Fed decided to hike its policy rate by 25 bps to the 0.25%-0.5% range as expected. The Summary of Economic Projections, the so-called dot plot, revealed that the median view of the Fed funds rate at the end of 2022 was raised to 1.9% from 0.9% back in December. According to the dot plot, policymakers see the Fed hiking its policy rate by 25 bps at every meeting for the rest of the year.Since the March meeting, however, conditions have changed and investors started to evaluate the prospects of double-dose rate hikes.The US Bureau of Economic Analysis reported on March 31 that the annual inflation, as measured by the Personal Consumption Expenditures (PCE) Price Index, climbed to 6.4% in February. More importantly, the Core PCE Price Index, the Fed’s preferred gauge of inflation, rose to 5.4% from 5.2% in January. It’s worth noting that the latest PCE inflation data do not reflect the impact of the Russia-Ukraine conflict and the coronavirus-related lockdowns in China on price pressures. It would be plausible to assume that inflation has more room to rise before finally starting to retreat.Additionally, the March jobs report revealed that the labor market conditions continued to tighten. Nonfarm Payrolls rose by 431,000, the Labor Force Participation Rate stayed virtually unchanged at 62.4% and the annual wage inflation climbed to 5.6% from 5.2% in February.At the post-FOMC press conference, FOMC Chairman Jerome Powell acknowledged that it was possible for the Fed to move rates up more quickly to tame inflation.Several Fed policymakers, including Cleveland Fed President Loretta Mester and St. Louis Fed President James Bullard, voiced their willingness to frontload rate increases to preserve the Fed’s credibility and ease price pressures. As it currently stands, the CME Group FedWatch Tool shows that markets are pricing in a 74.4% probability of a 50 bps rate hike in May.Hawkish scenarioThe Fed may have backed itself into a 25 bps hike by dismissing the possibility of a 50 bps hike in its pre-meeting communication in March. In case the minutes show that policymakers considered a bigger rate increase but ended up voting for a 25 bps one to avoid a big market reaction, US Treasury bond yields could continue to rise and provide a boost to the dollar. Market participants will also pay close attention to details surrounding the Fed’s plan to shrink the balance sheet. Powell noted that they will need to reduce the $8.9 trillion balance sheet to make sure high inflation does not become entrenched and NY Fed President John Williams said they could start doing that as early as May. The greenback could continue to find demand if the publication unveils that policymakers are willing to make large cuts to the balance sheet in the second half of the year. Dovish scenarioPolicymakers are worried about a prolonged Russia-Ukraine conflict weighing on global economic activity. Powell, however, explained that they were more concerned about the impact of the crisis on inflation rather than growth.A cautious language on future rate increases amid heightened uncertainty could be seen as a dovish development and trigger a dollar selloff. DXY Technical Outlook DXY closed above the 20-day SMA on Monday after staying below that level in the previous three trading days. Confirming the bullish shift in the near-term technical outlook, the Relative Strength Index (RSI) indicator advanced to 60.On the upside, 99.40 (static level, multi-year high set in early March) aligns as first resistance. With a daily close above that level, the index could target 100.00 (psychological level) and 100.40 (static level).In case the dollar faces selling pressure on a dovish surprise, DXY could drop to 97.80 (static level). If sellers manage to flip that level into resistance, further losses toward 97.30 (50-day SMA) and 96.70 (100-day SMA) could be witnessed.
How you could double your capital with Shiba Inu price

How you could double your capital with Shiba Inu price

FXStreet News FXStreet News 06.04.2022 16:45
Shiba Inu price sits on the floor of a massive run-up that could yield nearly 100% returns.Investors can get a jumpstart by accumulating around the $0.0000235 to $0.0000263 demand zone.A daily candlestick close below the $0.0000211 support level will invalidate the bullish thesis for SHIB.Shiba Inu price has been consolidating above a stable support level for nearly a week with no signs of moving higher. This sideways movement, however, also hints that an explosive move is on the cards once the volume spikes.Shiba Inu price and final call before explosive launchShiba Inu price action between January 5 to February 8 created two distinctive swing lows - a V-shaped valley known as “Adam” and a rounded bottom formation referred to as “Eve”. Although the second half of the pattern aka Eve is yet to complete, interested investors can start accumulating prior to its completion.This technical formation forecasts a 38% upswing, obtained by measuring the depth of the valley and adding it to the breakout point at $0.0000329. This gives a price objective at $0.0000454.The $0.0000235 to $0.0000263 demand zone is a major support level that has prevented steep corrections for SHIB for the last week, and there may be one last quick downswing before a new uptrend kick starts.In a highly bullish case, SHIB could extend beyond the theoretical target at $0.0000454 and hit a whole number at $0.0000500. From today’s lowest point at $0.0000251, this run-up would constitute a 100% gain for Shiba Inu price and its holders.SHIB/USDT 1-day chartWhile things are looking extremely bullish for Shiba Inu price due to the consolidation, a sudden downturn in Bitcoin price, which sets the current for all cryptos, could put this scenario to waste.A daily candlestick close below the $0.0000211 support level will invalidate the bullish thesis for Shiba Inu price. Such a move will give bears full control and trigger a crash to $0.0000094, where sideline SHIB holders could accumulate the token at a discounted price.
(XAUUSD) Price Of Gold - A Rally Car Powered By Ongoing Conflict Between Russia And Ukraine

(XAUUSD) Price Of Gold - A Rally Car Powered By Ongoing Conflict Between Russia And Ukraine

FXStreet News FXStreet News 05.04.2022 16:27
Gold has been advancing in recent trade and is now in the $1940s, up from earlier lows in the $1920s. Geopolitics is in focus after the EU announced new sanctions on Russia and Putin threatened restrictions on agricultural exports. Upcoming US data and Fed speak will also be important for gold traders to monitor. Ahead of the release of key US ISM Services PMI data for March at 1500BST and public remarks from influential Fed policymakers Lael Brainard and John Williams later in the session, spot gold (XAU/USD) prices are trading higher. Over the course of the last hour, gold has reversed higher from the mid-$1920s to current levels above $1940, where spot prices now trade higher by about 0.5% on the day. The reversal higher from earlier lows could have something to do with the latest sanction announcement from the EU against Russia, which included new import restrictions, including on coal. The EU also talked up the prospect of more sanctions on Russian oil imports, and Russian President Vladimir Putin announced in response that he might look at restricting agricultural exports to so-called “unfriendly” countries (like those in the EU). Lingering geopolitical tensions and the upside risks posed to global commodity prices as a result of de-globalisation between the West and Russia continue to remain a big reason why investors want to hold gold as both a safe-haven and inflation hedge. XAU/USD bulls will now eye a test of last Thursday’s highs near $1950, which happen to also coincide quite well with the 21-Day Moving Average at $1948. A break above here would open the door, technically speaking, to a move higher towards late March highs in the $1960s. But the bulls shouldn’t get too overeager. US bond yields continue to trade with an upside bias across the curve and remain close to multi-year highs and the US dollar remains broadly buoyant, both a reflection of the Fed’s continued shift towards more hawkish rhetoric. Most members have now indicated that they either support or are at least open to 50 bps rate hikes in the coming meeting, amid agreement that the Fed needs to get rates back to neutral as fast as possible to be in a better position to address high inflation and the hot labour market. Upcoming remarks from Fed Vice Chair Lael Brainard and NY Fed President John Williams will likely reinforce this hawkish stance. A stronger dollar makes gold more expensive for the holders of non-USD currency, while higher yields increase the opportunity cost of holding non-yielding assets like precious metals. Gold bugs should thus keep an eye on the economic/central bank calendar, as it might scupper hopes for a push beyond $1950.
Shiba Inu price climbs higher as the community burns 180 million SHIB overnight

Shiba Inu price climbs higher as the community burns 180 million SHIB overnight

FXStreet News FXStreet News 05.04.2022 16:27
Shiba Inu price has started an uptrend, posting double-digit gains over the past two weeks. Over the past 24 hours, 179,387,035 SHIB tokens have been burned, fueling a shortage in circulating supply. Analysts predict big gains in Shiba Inu with bullish indicators in the Dogecoin-killer’s price trend. Shiba Inu price started an uptrend as the circulating supply of the Dogecoin-killer shrinks. The community has burned another 179 million SHIB tokens overnight, pulling them out of the supply. Shiba Inu price climbs consistently as the community burns SHIBShiba Inu community has consistently burned SHIB tokens and pulled them out of the supply permanently. Typically, SHIB that is burned is sent to dead wallets, reducing the circulating supply of the Dogecoin-killer. As the circulating supply reduces and demand remains steady or increases it has the effect of increasing the value of the SHIB already held by investors. The Shiba Inu community is keen on reducing the supply through further implementation of burn. Individual investors and businesses have burned SHIB, in fixed quantities, in the interest of fueling a price rally in Shiba Inu. In the past 24 hours, 179,387,035 SHIB tokens were burned. Since the burn, Shiba Inu price started a brief uptrend. The spike in price was followed by a correction. Several real-world businesses have announced the acceptance of Shiba Inu as a payment method, confirming the Dogecoin-killer’s real-world use case. NOWPayments, a crypto payment gateway has confirmed the active participation of merchants in burn through a special feature. A fixed amount of SHIB tokens could be burned in each transaction, making it simpler to reduce the Dogecoin-killer’s circulating supply. Analysts have evaluated the Shiba Inu price trend and predicted big gains in the meme coin. Shiba Inu price chart reveals a catapult pattern, considered the most sought after pattern, since it has a positive outcome. Shiba Inu price could therefore climb 40% in an ideal scenario given the prime setup.
Alibaba Stock News and Forecast: BABA rallies in Hong Kong as China mulls changes to audit access

Alibaba Stock News and Forecast: BABA rallies in Hong Kong as China mulls changes to audit access

FXStreet News FXStreet News 04.04.2022 16:32
Alibaba stock soars in Hong Kong, up nearly 3%. Delisting fears may finally be clearing way for Chinese stocks. BABA stock is already surging in Monday's US premarket. Alibaba (BABA) stock is once again making gains in the premarket following on the back of some solid gains for BABA in Hong Kong overnight. BABA stock is currently ahead by nearly 4% in early Monday premarket trading. Alibaba Stock News The main reason behind this gain is news that China may relax restrictions on audits of some of its firms that are listed in the US. The back story is of course the ongoing delisting fears that have hung over the Chinese tech stocks listed in the US. This kicked off back two years ago when the proposed Alibaba (BABA) spin-off of ANT Group was halted at the last minute. This was due to apparent criticism from BABA chairman Jack Ma, but it did bring Chinese attention to US-listed stocks. Thus began a regulatory crackdown with various names dragged into the melee. DiDi Global (DIDI) was one of the most successful US IPOs, but the shares collapsed as the threat of delisting hung over the stock. The latest news from the China Securities Regulation Commission (CSRC) is that it plans to revise confidentially tules that could pave the way for US regulators and auditors to have access. This would remove the threat of delisting in the US from the SEC. Bloomberg reported last week that such access could be made to US auditors by the middle of 2022. Alibaba Stock Forecast After the recent recovery rally, BABA stock has consolidated around the $110 to $120 level. Consolidation is usually a chance for the stock to regroup before continuing in the direction of the current trend. The problem with BABA is that the current trend is positive, but the longer-term one is hugely negative. So it is some job to turn around that negative sentiment. Doing so likely means BABA needs to break $138. This is the low from October 2021, and then the level acted as resistance in January. There is also a noted volume gap from $130 to $160, which could see the move accelerate. $110 is the key level to hold above to give this movie a chance. Alibaba (BABA) stock chart, daily
Trading plan for Dogecoin on June 22, 2022

DOGE Price - A Rocketship With A Launch In The Near Future? Is $0.2 The Destination?

FXStreet News FXStreet News 04.04.2022 16:32
Dogecoin price holds steady above the $0.127 to $0.137 demand zone, hinting at gains. Investors can expect DOGE to trigger a 35% ascent to $0.194. A daily candlestick close below $0.127 will create a lower low and invalidate the bullish thesis. Dogecoin price shows signs of moving higher as it holds above a crucial support level. This sideways movement is likely to result in an exponential run-up that shatters immediate hurdles. Dogecoin price prepares for a breakout Dogecoin price rallied 40% between March 13 and 28 and set a swing high at $0.153. This explosive move created a stepping stone aka demand zone that helped extend the uptrend. This support area extends from $0.127 to $0.137 and DOGE is currently hovering above it. A further consolidation above this range will be key in triggering a bullish move. In such a case, the weekly resistance barriers at $0.163 and $0.194 will be the first blockades. Clearing these hurdles will open the path for market makers to push the meme coin above $0.194 to collect the buy-stop liquidity above. This development will signal a local top formation and is likely where upside will be capped for Dogecoin price. In total, this run-up would constitute a 50% gain from the current position at $0.144. Market participants are likely to start booking profits here, leading to a retracement.   DOGE/USDT 1-day chart   Regardless of the bullish outlook for Dogecoin price from a technical standpoint, a sudden crash for Bitcoin could translate to DOGE without any pushbacks. In such a case, a daily candlestick close below $0.127 will create a lower low and invalidate the bullish thesis for Dogecoin price. This development could lead to a further decline in DOGE to the $0.109 support level.
WTI falls back under $100 with Russo-Ukraine peace talk optimism, crude oil reserve releases in focus

WTI falls back under $100 with Russo-Ukraine peace talk optimism, crude oil reserve releases in focus

FXStreet News FXStreet News 01.04.2022 16:23
Oil was trading with a bearish bias on Friday amid Russo-Ukraine peace talk optimism and crude oil reserve release focus. WTI dipped below $100 per barrel and hit fresh weekly lows sub-$98.00, with bears eyeing March lows in the $93.00s.Oil prices have continued to trade with a bearish bias on Friday, with front-month WTI futures dipping to fresh weekly lows under $98.00 as traders digest the recent announcement of a major crude oil reserve release in the US (1M barrels per day for six months) and a further tightening of lockdown measures in major Chinese economic zone Shanghai. Recent positive commentary from Russian Foreign Minister Sergey Lavrov regarding progress in Russo-Ukraine peace talks is also weighing on oil as geopolitical risk premia is further unwound. Having found resistance at its 21-Day Moving Average (DMA) in the $108 area earlier in the week, WTI is now probing its 50DMA to the downside in $98.00s.International Energy Agency member nations recently commenced a meeting and the speculation is that other major oil consumer nations might also announce crude oil reserve releases alongside the US. US President Joe Biden said this could amount to a further 30-50M barrels of immediate supply. If confirmed, further newsflow pertaining to crude oil reserve releases could inject further bearishness into crude oil markets, with a test of March lows in the $93.00s on the cards.But as was the case back in March, any dip into the mid or low $90s may well be seen by the longer-term bulls as a good buying opportunity. Commodity strategists noted that US crude oil reserve releases over the coming months will not be enough to make up for the loss of as much as 3M barrels per day in Russian supply as a result of sanctions. Meanwhile, OPEC+ this week resisted calls to increase output at a faster pace than the usual 400K barrels per day per month, suggesting the group is not eager to ease the global supply squeeze.Meanwhile, OPEC+'s struggles to lift output in line with its own output quota hikes was on display again on Friday after a Reuters survey revealed output rose just 90K barrel per day MoM in March, well below the 400K target. That meant that the group’s compliance to its own supply cut pact rose to over 150% from 136% one month earlier. Commodity strategists will argue that against the backdrop of OPEC+ output struggles and sanction-caused Russian supply shut-ins, global oil markets will remain exceedingly tight for the foreseeable future, suggesting a structurally higher WTI (i.e. near or above $100 per barrel) continues to make sense.
Dogecoin price signals a 60% bull rally ahead

Dogecoin price signals a 60% bull rally ahead

FXStreet News FXStreet News 01.04.2022 16:23
Dogecoin price is currently bouncing off the $0.127 to $0.137 demand zone.A spike in buying is likely to propel DOGE by 60% to $0.215.A daily candlestick close below $0.127 will invalidate the bullish thesis.Dogecoin price faces exhaustion after its recent gains, causing a minor retracement. This pullback has pushed DOGE into a demand zone, suggesting the possibility of a quick run-up.Dogecoin price to kick-start another run-upDogecoin price retraced 14% after a 40% upswing that began on March 14. While the pullback will allow Dogecoin buyers to recuperate, it was caused by Bitcoin’s sudden downtrend. Regardless, the retracement has caused DOGE to retest the $0.127 to $0.137 demand zone, which will provide bulls with the extra oomph to kick-start another leg-up.The resulting rally will propel DOGE to retest the $0.163 and $0.194 weekly resistance barriers. Clearing these hurdles is crucial for market makers to collect the buy-stop liquidity resting above the $0.194 barrier.This ascent, therefore, would constitute a 60% gain for investors that are willing to seize the opportunity, and the time is now ripe as the Dogecoin price retests the daily demand zone.DOGE/USDT 4-hour chartWhile things are looking up for Dogecoin price, the breakdown out of the demand zone will put a final nail in the bulls’ coffin.A daily candlestick close below $0.127 will invalidate the bullish thesis for Dogecoin price by creating a lower low. This move will also lead to the breakdown of the demand zone, indicating a surge in selling pressure.In this situation, market participants can expect DOGE to retrace to the $0.109 support level, allowing buyers to regroup and give the uptrend another go.
Tech down, energy up as inflation, recession fears mount | MarketTalk: What’s up today? | Swissquote

Is Crypto.com (CRO) Price Collecting Rocket Propellant?

FXStreet News FXStreet News 31.03.2022 16:21
Crypto.com price token shows signs of climbing higher due to a potential rounding bottom. Investors can expect CRO to trigger an exponential rally after flipping the $0.53 resistance barrier into a support level. A daily candlestick close below the $0.37 foothold will invalidate the bullish thesis, Crypto.com price is currently at the midway point in completing a bullish setup. Therefore, market participants can expect massive returns for this token even before a breakout! Crypto.com price ready for an explosive move Crypto.com token shows no signs of slowing down as it approaches a significant resistance barrier at $0.53. After bottoming at roughly $0.37, CRO has rallied 27% to where it currently trades - $0.53. Flipping the said hurdle into a foothold will be key to triggering a massive run-up for Crypto.com price to retest the $0.88 ceiling. Doing so would complete a rounded bottom setup for CRO. This technical formation shows a slow resurgence of buyers that pushes the price back to its peak. If that were the case for Crypto.com price market participants can expect it to gain a total of 88% from its current position. Depending on the momentum, CRO could extend the run-up and retest the all-time high at $0.97. In some cases, Crypto.com bulls might tag the $1 psychological level and set a new high. CRO/USDT 1-day chart Regardless of the outlook for Crypto.com price, the altcoin market could undergo a drastic U-turn if Bitcoin flash crashes. Hence, market participants need to pay close attention to the big crypto's directional bias. In case of a sudden shift in narrative, a daily candlestick close below the $0.37 foothold will invalidate the bullish thesis for the Crypto.com price by producing a lower low. This move is likely to skew the odds in bears’ favor and trigger a crash that could push CRO to January 22 swing low at $0.32.  
Interaction Between Non-Farm Payrolls (NFP) And Price Of Gold

Interaction Between Non-Farm Payrolls (NFP) And Price Of Gold

FXStreet News FXStreet News 31.03.2022 16:21
Nonfarm Payrolls in US is forecast to increase by 490,000 in March. Gold is likely to react more significantly to a disappointing jobs report than an upbeat one. Gold's movement has no apparent connection with NFP deviation four hours after the release. Historically, how impactful has the US jobs report been on gold’s valuation? In this article, we present results from a study in which we analyzed the XAU/USD pair's reaction to the previous 20 NFP prints*. We present our findings as the US Bureau of Labor Statistics (BLS) gets ready to release the March jobs report on Friday, April 1. Expectations are for a 490,000 rise in Nonfarm Payrolls following the 678,000 increase in February. *We omitted the NFP data for March 2021, which was published on the first Friday of April, due to lack of volatility amid Easter Friday. Methodology We plotted gold price’s reaction to the NFP release at 15 minutes, one hour and four hours intervals after the release. Then we compared the gold price reaction to the deviation between the actual NFP release result and the expected result. We used the FXStreet Economic Calendar for data on deviation as it assigns a deviation point to each macroeconomic data release to show how big the divergence was between the actual print and the market consensus. For instance, the August (2021) NFP data missed the market expectation of 750,000 by a wide margin and the deviation was -1.49. On the other hand, February’s (2021) NFP print of 536,000 against the market expectation of 182,000 was a positive surprise with the deviation posting 1.76 for that particular release. A better-than-expected NFP print is seen as a USD-positive development and vice versa. Finally, we calculated the correlation coefficient (r) to figure out at which time frame gold had the strongest correlation with an NFP surprise. When r approaches -1, it suggests there is a significant negative correlation, while a significant positive correlation is identified when r moves toward 1. Since gold is defined as XAU/USD, an upbeat NFP reading should cause it to edge lower and point to a negative correlation. Results There were 11 negative and nine positive NFP surprises in the previous 20 releases, excluding data for March 2021. On average, the deviation was -0.92 on disappointing prints and 0.65 on strong figures. 15 minutes after the release, gold moved up by $3.66 on average if the NFP reading fell short of market consensus. On the flip side, gold declined by $1.68 on average on positive surprises. This finding suggests that investors’ immediate reaction is likely to be more significant to a disappointing print. However, the correlation coefficients we calculated for the different time frames mentioned above don’t even come close to being significant. The strongest negative correlation is seen 15 minutes after the releases with the r standing at -0.48. One hour after the release, the correlation weakens with the r rising to -0.3 and there is virtually no correlation to speak of four hours after the release with the r approaching 0. Several factors could be coming into play to weaken gold’s correlation with NFP surprises. Several hours after the NFP release on Friday, investors could look to book their profits toward the London fix, causing gold to reverse its direction after the initial reaction. Additionally, US Treasury bond yields’ movements have been impacting gold’s action lately and a decline in the benchmark 10-year T-bond yield on an upbeat jobs report could make it difficult for the USD to gather strength against its rivals, limiting XAU/USD’s downside.  
GameStop Stock News and Forecast: Looks like the time to sell GME again

GameStop Stock News and Forecast: Looks like the time to sell GME again

FXStreet News FXStreet News 30.03.2022 16:35
GameStop stock closes lower on Tuesday after being up to nearly $200.GME stock looks to have stalled for now as AMC also falls.GameStop has been up as much as 46% in the past week.GameStop (GME) fell away in the afternoon on Tuesday as the recent rally in meme stocks finally looked to be fizzling out. This has been a feature of meme stock rallies – short and powerful but fleeting. Will it be any different this time?GameStop Stock NewsThe time may now be at hand to book some profits for those of you that have been on the train of some meme stock rallies over the past week. We have seen some incredible gains in that period, and the name of the game is banking profits now. We witnessed on Tuesday that early morning rallies were not sustained, and both AMC and GME fell away as the session progressed. This is indicative of the rally and momentum stalling. This is not a negative thing since nothing can keep going up forever. With the size of the moves, it was inevitable. The aim is to bank as much profit as possible when trading, so now may be the time to at least move up a tight trailing stop or cut two-thirds of the position and have a free shot at the last third. GameStop Stock ForecastThe spikes always lead to pretty sharp pullbacks. We identified this in our note on Tuesday and brought attention to the large trend line in place from the recent spikes. This has again held and looks to have capped this rally at $200. GME stock closed about $20 lower than the intraday high for nearly a 10% pullback. That is pretty significant and tells us that the momentum is probably over for now. The Relative Strength Index (RSI) is also significantly overbought, having neared 80 on Tuesday. GameStop (GME) chart, dailyThe 15-minute chart shows the lack of volume above $200 and the RSI spiking to overbought when GME was above or near $200. The late sell-off has created a sell signal crossover in the Moving Average Convergence Divergence (MACD).GameStop 15-minute chart
Bitcoin price to jump above $50,000 for the first time this year

Bitcoin price to jump above $50,000 for the first time this year

FXStreet News FXStreet News 30.03.2022 16:35
Bitcoin price is ready to break $50,000 as markets are fading under profit-taking. BTC price sees bulls using small setbacks as an opportunity to build-up their stakes. Expect to see the uptrend continue throughout this week, and towards $53,350.61 going into the weekend. Bitcoin price, Ethereum and other cryptocurrencies are still feasting on positive news out of Ukraine that has set a massive tailwind in their sails, and led to solid gains across the board. The big driver was comments from both Ukraine and Russia that a deal is on the table and it is time for Putin and Zelinskyy to meet. Markets popped higher but are fading a little bit in the ASIA PAC this morning as investors take profit and, in the process, offer a window of opportunity to get in long again as markets will now start to price out any tail risks from this geopolitical event as the binary outcome is now falling in favour of risk-on. Bitcoin price takes a pause today to cool down the RSI before popping above $50,000 Bitcoin (BTC) price is under a bit of pressure in the ASIA PAC because of two elements weighing on the rejoice sentiment from Tuesday. The first element is news on the biggest heist in crypto history, where several millions were stolen from cryptocurrency accounts, which is putting a dent in the credibility of cryptocurrencies. The second negative element putting some pressure is that investors have been frontrunning past days the signs of a breakthrough in geopolitics, making it a textbook example of buy-the-rumor-sell-the-fact with investors taking profit as the good news is out now. BTC price, however, is not showing signs of the uptrend ending anytime soon. With a considerable tail risk out of the equation, the relief tailwinds and global risk-on are the perfect environments for cryptocurrencies to thrive further. Expect to see, with the fade today, bulls add to their positions and soon see BTC prices being squeezed above $50,000, targeting $50,019.29 in the first phase and $53,350.61 by the end of this week. That would mean that another 13% of gains are in the cards with still three trading days. BTC/USD daily chart With the Relative Strenght Index (RSI) being overbought, a fade might not be enough to cool down BTC price action. A broader correction would be able to push the RSI back to 50, offering a better entry-level for fresh investors to join the rally. That would mean a drop back of $45,261.84 or even $44,088.73, making those levels perfect entries for a rebound. As the 200-day Simple Moving Average (SMA) has already rejected twice a test to the upside, this could be the scenario unfolding in the coming days.
US ADP Employment March Preview: Private job creation slows while yield curve flattens

US ADP Employment March Preview: Private job creation slows while yield curve flattens

FXStreet News FXStreet News 29.03.2022 16:43
US ADP payrolls are foreseen at 438K in March, NFP at 475K.US yield curve is flattening, rings recession alarm amid 50-bps May Fed rate hike bets.Fed Chair Powell believes the labor market is strong enough, recession unlikely.The US private sector hiring is seen slowing in March after the American companies added more jobs than expected in February. The US ADP private employment report, due on Wednesday at 12.15 GMT, usually provides a good hint at Friday’s full jobs report, so investors will be looking for clues on any potential labor market slowdown.Pace of jobs creation slows in the USThe Automatic Data Processing (ADP) is forecast to show that US companies have created 438,00 new jobs in March, less than the previous month’s addition of 475,000. In February, business payrolls rose more than the expected 375,000 figure. ADP’s payroll data represent firms employing nearly 26 million workers in the US and its monthly release shows the employment change in the economy.Source: FXStreetOn Friday, the US Labor Department will release the Nonfarm Payrolls, which is expected to show that the economy has likely added 475,000 new jobs in March after a surprise increase of 678,000 reported in February.The Automatic Data Processing ADP jobs report is usually considered a proxy to the official Nonfarm Payrolls figures, which will be released on Friday, April 1.The disparity between the two indicators in recent months, however, makes the ADP result unreliable to gauge the NFP trend and, therefore, could have a limited market impact.US yield curve flattens, Fed remains hawkishHeading into the monthly payrolls data, the Russia-Ukraine conflict rages on while the odds of a 50-basis points (bps) Fed rate hike in May almost appears a done deal.Against this backdrop, the yields on the US Treasuries have rallied to three-year highs, although the increase in the longer-dated yields has failed to match the pace of the advance in the shorter ones. The spread between the two- and 10-year yields narrowed to its lowest since early 2020 on Tuesday. The flattening of the yield curve is usually indicative of a likely recession, as investors remain worried that the aggressive Fed’s tightening would damage the US economy over the longer term.At the March FOMC meeting, Fed Chair Jerome Powell said that the labor market is strong enough that a recession is unlikely. Although Powell remains optimistic about the economy and labor market, he said in his speech last week, “this is a labor market that is out of balance," adding "we need the labor market to be sustainably tight."To concludeMarkets are pricing in a roughly 60% chance of a 50-bps rate hike at the Fed’s May meeting.A slowdown in the hiring pace in the world’s biggest economy could likely feed the risks of a recession, especially in the face of soaring inflation. This could pour cold water on the recent Fed’s hawkishness.The ADP report, however, is unlikely to have any major impact on the US dollar and other related markets. Friday’s NFP release will hold the key to gauging the Fed’s policy action going forward.
🔥 SHIBA Volatile Move Ahead: Triangle Analysis

Will (SHIB) Shiba Inu Price Get In The Rocketship!?

FXStreet News FXStreet News 29.03.2022 16:43
Shiba Inu price broke through the 78.6% Fibonacci level but failed to close above. SHIB price breaks back above the monthly pivot in early trading. Expect to see an attempt for $0.00003000 near-term, with a longer-term target set at $0.00004490. Shiba Inu (SHIB) price saw bulls taking the lead on Monday by using the 55-day Simple Moving Average (SMA) handle as an entry point that resulted in the price shooting up to the 200-day SMA of $0.00003000, but bulls were unable to perform a daily close above this level. In the ASIA PAC session this morning, SHIB price is knocking at the door of the 78.6% Fibonacci level at $0.00002782, which opens the path towards 61.8% Fibonacci level at $0.00004490, meaning a whopping 65% gain is within reach. In order to achieve that target, a daily close above the 78.6% Fibonacci should be enough to rally at a tiered pace. Shiba Inu price set for a phased rally Shiba Inu price will swing back to $0.00003000, which coincides with the 200-day SMA. Technically, this is the most significant technical hurdle to overcome if investors want to book 65% of gains in this spring rally. In case a daily close above here is reached, a significant bullish signal will be delivered to the markets, which will trigger more investors and day traders to the price action to ramp it further up, resulting in crossing some grounds quite quickly to $0.00003400, which falls in line with the monthly R1. SHIB price then has only one element that could keep it from popping further upwards to $0.00004465, and that is the $0.00003989 level which coincides with the high of December 24. Not only would that mean that SHIB price is printing new highs for the year, but in the meantime will have wholly reversed the winter downtrend that slammed price action with the Ukraine war. Only a 10% jump remains to hit the 61.8% Fibonacci level and will see a broad and significant fade to the downside as investors will want to book gains and cash in there. SHIB/USD daily chart Risk to the downside comes on Tuesday with talks in Turkey between Russia and Ukraine that could provide a setback. Both parties are still talking, but should one party walk away from negotiations, that would mean a big step back for markets as investors have been front-running a positive outcome since last week, with the expectations bar set high. A collapse of SHIB price could result with Shiba Inu price dropping back to $0.00002200, losing support of that 55-day SMA and rebalancing around that green ascending trendline marked up since January 25
Crypto trading volume exceeds $100 billion in 24 hours as bulls flock to the market

Crypto trading volume exceeds $100 billion in 24 hours as bulls flock to the market

FXStreet News FXStreet News 28.03.2022 16:34
Proponents noted a 63.07% spike in the total transaction volume of cryptocurrencies across exchanges. Coinmarketcap data reveals a month-on-month increase of 4.75% in crypto trading volume. Bitcoin price crossed $47,000, fueled by $200 million shorts liquidated across exchanges. Bitcoin price is rallying, fueled by a frenzy of massive short liquidations on crypto exchanges. Proponents believe bulls have flocked to the market, as transaction volume exceeded $100 billion. Bitcoin price pushes past $47,000 in recent rally Bitcoin price crossed key resistance to hit a high above $47,000 in a rally fueled by the liquidation of millions of short positions. Analysts at the crypto intelligence platform Santiment observed a massive liquidation of shorts across exchanges at 1 pm and 6 pm UTC across crypto exchanges on March 27, 2022. Analysts argue that Bitcoin’s recent price rally to $47,000 was a response to liquidation in large quantities over the weekend. The average funding rate entered the long zone, where uncertainty among market participants increased. Therefore, analysts conclude that Bitcoin shorts have fueled the asset’s ongoing rally. Bitcoin and altcoin shorts liquidatedColin Wu, a Chinese journalist, reported a spike in the total transaction volume of cryptocurrencies, exceeding $100 billion over the past 24 hours. Wu referred to data from Coinmarketcap and observed a 63.07% increase in crypto transaction volume compared to March 26, 2022. The total crypto market value now exceeds $2.12 trillion. Historically, analysts have witnessed high transaction activity when large wallet investors flock to the market or scoop up crypto. Bloomberg analysts argue that Bitcoin looks overbought, compared to its 50-day Moving Average. Bitcoin price crossed key resistance at $45,000 in the current rally, erasing its losses for the year. FXStreet analysts have evaluated Bitcoin price and predicted the start of a new uptrend in the asset, as it crossed the $45,000 level.
Tesla Stock News and Forecast: Shareholders to vote on TSLA stock split

Tesla Stock News and Forecast: Shareholders to vote on TSLA stock split

FXStreet News FXStreet News 28.03.2022 16:34
Tesla stock surges on news of a potential stock split dividend.TSLA is up at $1,066 of +5.6% in Monday premarket trading.Tesla stock has rallied sharply from early March lows.Tesla stock (TSLA) is back to the top of the social media chatter on Monday, usurping GameStop and AMC in the process. The stock is surging this morning on news of a potential stock split dividend. Tesla previously did a 5-for-1 stock split back in August 2020, and other companies have followed suit, notably Amazon. This makes it easier for retail investors to own the stock when it has a more affordable share price.Tesla Stock News: Stock split imminent?Tesla's board of directors has already approved the plan to split the shares for a stock dividend and will put it to a vote of the shareholders. The news was well-received by retail shareholders who tend to be more active in the premarket than other holders. A stock dividend is exactly what it sounds like. Instead of receiving cash, shareholders receive new shares in the company. This means companies do not use up cash to fund the dividend. Stock dividends are usually dilutive to earnings per share (EPS) as more shares are in issue after the event. Tesla is up nearly 6% before the open. It is not all plain sailing though for the EV giant as more Chinese covid lockdowns are announced. Tesla will close its Shanghai giga plant for at least a day on the back of lockdowns in the city. Tesla Stock ForecastA powerful rally with the next target now set at $1,210. This would set up Tesla's (TSLA) stock to break to all-time highs. Currently, on the longer-term time horizon, the narrative is still bearish with a series of lower highs and lower lows. So breaking $1,210 turns Tesla bullish on all time horizons. Naturally, it is already bullish in the short term after last week's strong rally. Holding above $945 is the key pivot for medium and long-term traders. TSLA 20-hour chartThere is a short-term pivot at $1,000, with high volume at this level. Below sees a volume gap to $945, the key as mentioned above. Tesla chart, 15-minute
WTI falls back to $110 area amid pre-weekend profit-taking

WTI falls back to $110 area amid pre-weekend profit-taking

FXStreet News FXStreet News 26.03.2022 05:15
WTI has stabilised in the $110 area, down another $1 on the day after Thursday’s $3 drop.An easing of CPC pipeline disruption concerns plus the EU’s failure to agree on a Russian oil embargo triggered profit-taking.Front-month WTI futures have stabilised in the $110 area on Friday, with Thursday’s modest bearish momentum continuing for a second day and prices currently down about $1.0 after the slightly more than $3 drop a day earlier. Supply concerns have eased somewhat in the latter half of the week after news broke of a partial resumption of oil flows through to Kazakhstan’s CPC pipeline. Earlier in the week, authorities had announced that oil flows through the 1.3M barrel per day pipeline had been halted due to the need to repair storm damages.The supply disruption comes as global oil markets face massive uncertainty owing to Russia’s invasion of Ukraine and subsequent harsh sanctions placed on the Russian economy by Western nations. Speculation at the start of the week had been that the EU would on Thursday, following extraordinary NATO/EU leaders meetings, announce an embargo on all Russian oil imports. But this was not the case, with heavily Russia-energy-import-dependant countries like Germany pushing back against this policy out of fear of causing economic self-harm.The EU’s failure to implement a wider Russian oil import ban has likely contributed to the further bout of profit-taking in the latter stages of the week. But it seems that traders remain keen to add to long positions in the $110 area. Commodity strategists think that as the impact of the Russo-Ukraine war on Russian oil exports becomes more evident in the coming month, there remains plenty of room for further upside in WTI. The latest remarks from Russian negotiators suggest that a Russo-Ukraine peace deal, which could potentially precede an easing of Western sanctions, is not likely to be forthcoming any time soon.
Tilray Stock Forecast: TLRY zooms 18% higher on US legislation hopes

Tilray Stock Forecast: TLRY zooms 18% higher on US legislation hopes

FXStreet News FXStreet News 26.03.2022 05:15
Tilray stock rose 21.8% on ThursdayHigh level of call contracts expire this Friday.US lower house will take up decriminalization legislation next week.Canadian cannabis powerhouse Tilray Brands (TLRY) is reaping the benefits of the US House of Representatives adding major legislation important to the industry to the calendar for next week. Tilray stock is up more than 18% at Friday's open to a momentary high of $8.35. In just a week the company has doubled its market cap, and other competitors like Sundial Growers (SNDL), Canopy Growth Corporation (CGC), Aurora Cannabis (ACB) also benefitting from the optimism.Tilray Brands Stock News: MORE Act has cannabis stocks rallyingThe Marijuana Opportunity Reinvestment & Expungement Act, or MORE Act, will receive focus from the House and taken up for discussion next week. This law would decriminalize cannabis at the federal level, which may allow cannabis companies to begin utilizing better financing through regular old banks. As of now, most banks will not work with cannabis growers, which forces them to seek out a much higher cost of capital. The law would also erase past federal criminal offenses involving the sale of cannabis. This would be a major step toward broader decriminalization of recreational use that more states may follow, which would eventually open up new markets and customers to existing licensed growers.Tilray call options are soaring in value on Friday morning, even those that expire at the end of the session. The $8 strike contract has soared more than 82% to $0.42, and at the time of writing 8,730 contracts have traded already. This is about 25% above open interest. Sundial Growers stock is up nearly 12%, and Cresco Labs has advanced more than 5%.Tilray announced earlier this month that it had acquired $211 million in convertible notes from Hexo, another major competitor in Canadian cannabis. If exercised, Tilray would own about 37% of Hexo. This is yet another move by Tilray to grow its global footprint. The corporation already has access to the Canadian, US and European markets. The current management strategy is to raise revenue, now at $600 million annually, to $4 billion by 2024. Tilray seems to be trying to achieve this mostly through acquisitions. The stock is down 65% over the past year, partly because Tilray has diluted its shareholders by more than 50% in order to pay for some of these acquisitions.Tilray Brands Forecast: Breaking through one year of resistanceOn Thursday Tilray stock resolutely broke through top line resistance that has been working on the daily chart for about one year. The descending top line has been in play since about March 17, 2021, and connects to highs on June 9, 2021, and November 14, 2021. By closing up nearly 22% on Thursday, TLRY broke that trend line with force. Resistance at $7.30 has now turned into support, with Friday's intraday high of $8.35. Although TLRY is selling off to $7.55 in mid-session, bulls will see regaining this $8.35 high as a significant goal. From there, the resistance target rises to $9.94 – the high from December 8, 2021.TLRY 1-day chart
Nvidia Stock News and Forecast: NVDA shares up after unveiling $1 trillion market opportunity

Nvidia Stock News and Forecast: NVDA shares up after unveiling $1 trillion market opportunity

FXStreet News FXStreet News 24.03.2022 16:22
NVDA stock dropped 3.4% on Wednesday trading.Nvidia CEO says focus on software gives chipmaker $1 trillion market.Nvidia could reshore chip fabrication using Intel.Nvidia stock (NVDA) is up 3.2% to $264.42 on Wednesday after management announced a broader focus on software that could give Nvidia a total addressable market of $1 trillion. Additionally, Nvidia CEO Jensen Huang told Reuters on Wednesday that he was in discussion with Intel to use the legacy chipmaker's semiconductor foundries to produce Nvidia's chips in the United States.Nvidia Stock News: $1 trillion opportunityAt an investor day presentation earlier this week, Nvidia executives walked analysts through a much larger strategy that entailed a total addressable market (TAM) for Nvidia's various business segments of $1 trillion per year. The larger market for Nvidia products than earlier estimates stems from Nvidia's new focus on software platform offerings. The bigger TAM breaks down to $150 billion from omniverse enterprise software, $150 billion from artificial intelligence software, $100 billion from gaming, $300 billion from the existing semiconductor chip business, and $300 billion from the automotive segment. A solid section of the automotive opportunity also comes from software.Evercore ISI's C.J. Muse found the large figures hard to fathom but said his investment colleagues are, “firm believers in the company’s hardware and software strategies that should deliver world-class organic growth for years to come.”Evercore and Bernstein both have recently reiterated outperform ratings for Nvidia stock. Evercore has a $375 price target on NVDA shares, a solid 44% upside, while Bernstein has a price target of $350. Bernstein pointed out in a letter to clients that Nvidia only makes a few hundred million dollars in annual revenue now from software but sees well over $300 billion in opportunity for that segment.In separate news, CEO Jensen Huang said he was quite willing to work with Intel to produce Nvidia chips onshore in the US. Currently, the company has Taiwan Semiconductor (TSM) producing much of its catalog. He told reporters that it could take years of discussions to finalize a fabrication deal, however, as it is an extremely detailed process. Intel CEO Pat Gelsinger was on Capitol Hill on Wednesday to brief the US Senate's Commerce Committee on his company's plans to utilize funding from the $52 billion CHIPS Act to reshore and expand US semiconductor fabrication.Nvidia Stock Forecast: NVDA bulls hope for $284Monday and Tuesday of this week both saw Nvidia stock break above the February 10 swing high at $269.25. Right now in the $264s, Nvidia is at support. If it falls below $255.50, volume pressure may push NVDA down to $240, where there is support from both February and the 50-day moving average. To keep the rally going, bulls will try to make a play for $284.22. This level acted as resistance in early to mid-January.Back on March 16, Nvidia shares broke out of a descending trend that began on November 22, 2021. For the rally to continue, the 20-day moving average needs to break above the 50-day moving average fairly soon, possibly by the end of next week at the latest. Long-term support continues to sit at $208.90.NVDA 1-day chart
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos on the front foot as rebound turns into new uptrend

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos on the front foot as rebound turns into new uptrend

FXStreet News FXStreet News 24.03.2022 16:22
Bitcoin price set to touch $45,000 by tomorrow if current tailwinds keep supporting price action. Ethereum price set to rally another 12%, with bulls targeting $3,500.00XRP price undergoes consolidation as the next profit level is $0.90.Bitcoin price, Ethereum and other cryptocurrencies are enjoying a calm week with tailwinds finally able to thrive without constant interruption from headlines about Ukraine or Russia. Markets are also starting to adjust to the situation, with no immediate or significant movements anymore triggered by headlines coming out. Expect to see more upside with several possible cryptocurrencies eking out the best week of the year thus far.Bitcoin price has a defined game plan with $44,088 as the target for today and $45,261 by the weekendBitcoin (BTC) price is on the front foot for a third consecutive day as the rally turns into a broader uptrend. The crucial thing will be to see where BTC price will close this week, as bears need to get weakened with several short squeezes and breakouts running stops from short-sellers. Despite being elevated, the Relative Strength Index (RSI) is still not near the 'overbought' level, providing enough incentive for bulls and investors to keep buying BTC price action.BTC price is set to hit $44,088.73 today, the level of the March 03 highs. If that is gained – and given the current tailwinds – markets will start to expect Bitcoin to eke out new highs for the month with still a week to go. This additional bullish element should help conclude a daily close above $44,088.73. A support test on that same level will trigger new inflows from investors and provide the needed juice to pump price action up to $45,261.84, topping $45,000.00.BTC/USD daily chartA tail risk comes from the big joint meeting today in Brussels, with Biden meeting NATO, the G7 and E.U. leaders. An embargo on gas is on the table and could roil markets if the E.U. decides to walk away from Russian gas supplies, opening up the possibility of further Russian retaliation in Ukraine. That would make global markets move back to risk-off mode, with Bitcoin price dropping back to support at $39,780.68, and intersecting with the green ascending trend line. Ethereum price targets $3,500 after bulls force a daily close above $3,018.55Ethereum (ETH) price is performing a 'classic long' trading plan today after bulls pushed a daily close above $3,018.55. With price action in ETH opening slightly above this level, this morning, the price has faded slightly back towards that same $3,018.55 level to find support and offer the opportunity for new bulls and investors to enter the market. Ethereum price will move back to the upside and continue its rally, which is currently looking more and more like an uptrend that could continue over a broader time frame.ETH price will therefore need to find support around $3,018.55 as the fade will need to be kept in check, as too large a fade could spook investors. Seeing as the current favourable tailwinds are quite broadly present in global markets, expect to see another uplift towards $3,200 and $3,391.52 depending on the number of new positive headlines acting as additional accelerators. With those moves, at least new highs for March will be printed and possibly for February, depending on how steep the rally can continue.ETH/USD daily chartThe risk for Ethereum price is that price action slips back below $3,018.55. That could open the door for bears to jump in again and run price action back to $2,835.83, which is the low of March 21 and the monthly pivot. An additional fail-safe system is the 55-day Simple Moving Average at $2,808.84 as an additional supportive factor to take into account.https://youtu.be/wgpCSH70SIQXRP price undergoes consolidation as the bullish breakout hits $0.90Ripple's (XRP) price has bears and bulls being pushed towards each other as the bodies of the candles from the past two sessions grow very thin. This points to bulls and bears fighting it out and neither yet having the upper hand. Bears are defending the area above $0.8390 from bulls running to $0.8791, and bulls are trying to defend their support at $0.7843. With lower highs and higher lows, the stage is set for a breakout that, seeing the current tailwinds, will probably favour bulls, and result in a quick move towards $0.8791.XRP price is thus set to print new highs for March. With the stock markets having their best performing week for this year, expect to see even more tailwinds spilling over to cryptocurrencies and bulls targeting $0.9110. At that level, bulls will run into the 200-day SMA which will possibly be the halting point of the current uptrend as investors will need to reassess the situation before they advance. Where global markets are at that point and how far off a peace treaty is between Russia and Ukraine will determine if bulls will advance towards $1.00 in XRP price.XRP/USD daily chartAlthough several statements suggest it is unlikely, should Putin be backed further into a corner, the use of nuclear weapons could cast a dark shadow on markets. Expect a massive drop in equities and cryptocurrencies with those headlines coming out, where XRP price will fall towards $0.7843 or even $0.7600. In the first case, the historic pivotal level will provide support and further down, the monthly pivot is set to intertwine with the 55-day SMA, which should be enough to catch any falling-knife action. https://youtu.be/ZWrKMd2CiL8
Tilray Stock Forecast: TLRY $6, $6.50 calls expiring on Friday jump 200%

Tilray Stock Forecast: TLRY $6, $6.50 calls expiring on Friday jump 200%

FXStreet News FXStreet News 23.03.2022 15:52
Tilray stock rose 6.8% on Tuesday and is up double digits in Wednesday's premarket. High level of call contracts expire this Friday. Tilray stock is down 23% so far this year and 76% in the past year. Tilray stock is trading up 4.2% at $5.92 about 45 minutes into Wednesday's session. Shares spiked up to $6.30 at the open but have steadily lost ground as the session has progressed. Due to the large-scale call buying that occurred on Tuesday, with some 30,000 contracts being traded that expire this Friday with strike prices of $6 and $6.50, Breaking above either of these levels will receive intent focus from the market. The cost of buying call contracts at those strikes – $6 and $6.50 – are up 175% and 216%, respectively, this morning. Tilray Brands (TLRY), the massive Canadian cannabis conglomerate, is riding high in Wednesday's premarket. It appears that an unusually large volume of call options were purchased on Tuesday that is driving the price higher. Tilray stock saw a volume of 13,500 March 25 call contracts at the $6 strike price exchange hands and nearly 17,000 for the $6.50 strike. Both exceeded open interest. TLRY stock closed up 6.8% to $5.68 and up another 10% near $6.25 in Wednesday's premarket. Tilray Brands Stock News: Despite dwindling share price, expansion continues Similar to its Medmen deal last summer, Tilray announced earlier this month that it had acquired $211 million in convertible notes from Hexo, another major player in the Canadian cannabis arena. If exercised, Tilray would own about 37% of Hexo. This is unsurprising as Tilray has been on a mad tear to acquire as much of the pot industry as possible. Its deal with Medmen last summer gives it access to the US market, and its merger with Aphria around the same time created the largest cannabis company in the world. Profitability is less important to management at this stage, since their stated goal is to raise current annual revenue of $600 million to $4 billion by 2024. Not much time left guys! Tilray Brands Forecast: $6.23 is key A descending top line that began one year ago back in March and connects to highs on June 9, 2021, and November 14, 2021, has been calling the resistance shots for a long time. Despite Tuesday's spike, shares are still down 76% in the past 12 months. To break out of the long-term bearish trend, TLRY needs to close above $6.75. Resistance comes first at $6.23, where there was a shelf in late February. Then $7.30 shows resistance from the swing high in mid-February. Support is at $4.81. TLRY 1-day chart
(MCO) Crypto.com Price Rises As The Company Is Presented As A Sponsor Of An Important Sport Event

(MCO) Crypto.com Price Rises As The Company Is Presented As A Sponsor Of An Important Sport Event

FXStreet News FXStreet News 23.03.2022 15:52
Crypto.com token set a stable base and rallied 12% to clear a crucial hurdle at $0.41. If CRO manages to stay above this barrier, a retest of $0.45 seems likely. A breakdown of $0.41 could trigger a correction to $0.37 or lower. Crypto.com token has set up pools of liquidity at the range low and high of recent run-up. This technical outlook creates ambiguity with directional bias, but the recent announcement indicates a bullish move is likely. The company’s Twitter account posted that it will be a sponsor of the FIFA World Cup Qatar 2022. A blog post further elaborated that Crypto.com will be the “exclusive cryptocurrency trading company” sponsoring the Qatar 2022 FIFA World Cup. This move from the establishment is not unseen in the crypto industry with FTX partnering with major Major Baseball League, Mercedes, eSports teams and so on. The sponsorship will allow Crypto.com to garner branding exposure from within and outside the tournament’s stadiums. Crypto.com token at make-or-break point Crypto.com token fell nearly 20% between March 2 and 7, setting up a range that extends from $0.45 to $0.37. This downswing set a boundary and CRO bulls respected it and created a double bottom at $0.37, triggering then a recovery rally. So far, the Crypto.com token has managed to flip the 50% retracement level at $0.41 and is at the time of writing hovering above it. A continuation of this bullish momentum could see CRO heading back to the range high and perhaps higher. Interested investors can wait for a retest of the $0.41 barrier to enter a long position and book profits at $0.45. In some cases, the run-up could push the Crypto.com token to $0.47 especially if the buying pressure increases. CRO/USDT 4-hour chart Although things are looking favorable to bulls, a breakdown of the $0.41 support level will trigger a move in the opposite direction. If Crypto.com token produces a four-hour candlestick close below $0.37, it will invalidate the bullish thesis. This development could see Crypto.com token slide lower to retest the stable support level at $0.36.
Russia-Ukraine War: Five reasons a deal may be closer than it seems, what it means for the dollar

Russia-Ukraine War: Five reasons a deal may be closer than it seems, what it means for the dollar

FXStreet News FXStreet News 22.03.2022 16:18
Calm in talks, lack of fresh pressure on China implies potential progress. Ukraine's proposed referendum and Russia's struggles also provide hope. The dollar would fall on any deal, but a comprehensive accord is needed for a lasting effect.It might be darkest before dawn – the Russia-Ukraine war seems stuck in the mud after a month of fighting, but this stalemate could be a prelude to a deal.1) Quiet talks: there has been no news from the negotiating table for a few days. When diplomats talk to the press, it is usually a sign that there is no progress and that they are trying to accuse the other side of failing to compromise. The current calm is a source of optimism – no news is good news.2) UA Referendum: Ukraine's President Volodymyr Zelenskyy said that any deal would require a referendum. He seems to be preparing the public for some compromise – perhaps not only on NATO membership but also other matters. If he concedes territory to Russia, public support is needed for him not to be seen as a traitor. Laying the groundwork for a deal implies one has a higher chance to occur.3) RU stuck in the mud: Russia continues failing to make any progress on the battlefield. Ukraine's soldiers and civilian fighters refuse to surrender in Mariupol, a strategic city in the south, despite lacking sufficient water and food. Moscow seems to have thought that the fact that most citizens there speak Russian would help. Local motivation with Western arms is turning Mariupol into Stalingrad, while the battle for Kyiv is not getting any closer. 4) Is Russia thinking beyond the war? The use of a hypersonic missile – unnecessary against Ukrainian defenses – can also be seen as a sign that Russia wants to sell such weaponry to other countries. It seems to be thinking about the post-war deals rather than trying to achieve any military goal. In the meantime, oil, gas and bond payments continue flowing to the West, a sign Russia does not want further escalation. 5) Quiet on the Chinese front: international pressure is growing to stop the war. From the Pope to mediators such as Turkey and Israel, via European countries which are mulling moving sanctions to the next level – on energy. The strongest country that can impact the situation in China, the world's second-largest economy. Beijing is politically aligned with Moscow but economically tied to the West. The fact that the US has stopped criticizing China is another positive sign.Dollar implicationsIn case a deal is struck, there is a stark difference between a ceasefire leading to a frozen conflict, and a comprehensive accord that would remove sanctions. In the former scenario, oil prices would remain elevated. The global economy would continue struggling in a transition period. The dollar would recover from an initial fall, benefiting from Fed hawkishness.In case of a full deal, the greenback would suffer from diminishing demand for safe-havens and would tumble instantly. Re-integrating Russia in the global economy is better for risk assets than having Putin rule over a "big North Korea" – a large economy isolated from the world.
Should Drivers Worry About Fuel Prices Again? Will Crude Oil Price Go Up!?

WTI drops back below $110 amid profit-taking with EU split on Russia oil ban

FXStreet News FXStreet News 22.03.2022 16:18
WTI has eased back from APac session highs in the $113.00s to under $110 amid fresh profit-taking. The EU is reportedly split over whether or not to press ahead with a Russian oil import ban. After rising as high as the $113.00s during Asia Pacific trade as oil market participants responded to chatter about a potential EU ban on Russian oil imports and weekend news of disruptions to Saudi energy infrastructure, front-month WTI futures have eased back somewhat. Prices are now back to trading beneath $110 per barrel, down about $3.50 versus Monday’s closing highs in the upper $112.00s. That still leaves prices higher by more than $15 versus last week's lows, though still some $20 lower versus earlier monthly highs. Reports that EU foreign ministers are split over whether to press ahead with the Russian oil embargo likely prompted some profit-taking, with Germany reportedly still of the view that the bloc remains too dependent on Russian energy to take such a step. “The proposed ban is still some way from becoming policy because a significant number of EU nations oppose the ban... Still, the fact that the ban is being discussed at all is a significant shift” said analysts at Commonwealth Bank of Australia. Looking ahead, geopolitical developments remain in the forefront, though traders will also be focused on the latest weekly Private API crude oil inventory data release at 2130 GMT. Oil traders continue to fret about uncertainty regarding the extent of loss of Russian supply at a time when global oil reserves are at multi-year lows.
🔥 SHIBA Volatile Move Ahead: Triangle Analysis

Can (SHIB) Shiba Inu Price Go For A Rocket Launch?

FXStreet News FXStreet News 21.03.2022 16:05
Shiba Inu price is hovering above the $0.0000223 support level, eyeing a 40% upswing. A quick liquidity run below $0.0000202 is likely before triggering the move to $0.0000283. A daily candlestick close below $0.0000158 will invalidate the bullish thesis for SHIB. Shiba Inu price action seems to be repeating itself after a recent breakout from its downtrend. The rebound is pausing and might go for a liquidity run below a vital support level before a full-blown rally kicks off. Shiba Inu price prepares for a new leg-up Shiba Inu price crashed 77% from its all-time high before setting up a swing low around $0.0000202. The downswing, however, was breached on February 3, as price undertook a u-turn and made a 75% ascent. The new uptrend failed to sustain, however, leading to another downswing. After a brief period of consolidation, SHIB breached through its mini downtrend and is currently establishing a support level around $0.0000223 before triggering an explosive rally higher. However, investors can expect Shiba Inu price to slide lower first in search of liquidity below the $0.0000202 barrier. Such a move will signal the start of an uptrend and interested investors can enter long at $0.0000202. The resulting momentum will likely catapult SHIB to retest the immediate hurdle at $0.0000283. This move would constitute a 40% gain and is where market participants can book profits. SHIB/USDT 1-day chart Even if Shiba Inu price breaches the $0.0000202 barrier, the bulls will have another chance to regroup and attempt a run-up into the nine-hour demand zone, ranging from $0.0000158 to $0.0000193. A daily candlestick close below $0.0000193, however, will produce a lower low and invalidate the bullish thesis. In this scenario, Shiba Inu price could crash 15% and retest the $0.0000135 support level.
Blackberry Stock Price & News: BB bounces as company says Jarvis to be rolled out

Blackberry Stock Price & News: BB bounces as company says Jarvis to be rolled out

FXStreet News FXStreet News 21.03.2022 16:05
Blackberry stock is back trending on retail investment sites after a long break.BB stock was one of the old meme stock favorites from last year.The stock also catches a major investment bank upgrade on Monday.Blackberry shares are back. The BB ticker is once again trending all over social media and retail trading sites after quite a long hiatus in the wilderness. That's break to you and me but my editor likes the fancy words! But Blackberry (BB) is definitely back. It was one of the original stocks caught up in the frenzy of short squeeze speculation last year but dropped off most people's attention lists as the stock was unable to push on and gave up all of its gains. BB stock fell from $20.17 in June 2021 to $5.80 in February 2022. Also read: AMC stock starts Monday with more gainsBlackberry (BB) stock news: Announces 13 channel partners for Jarvis 2.0Blackberry was the go-to business phone in the early 2010 decade before being totally outmaneuvered by the emergence of the smartphone. Holding a Blackberry was a sign that you had made it in the business world but the company and phone went the way of Nokia, totally demolished by Apple and other smartphone makers. But both companies Blackberry and Nokia have struggled along with varying degrees of success. Blackberry caught some renewed attention on Monday as it announced its Jarvis 2.0 testing tool will be offered by 13 partners to companies in the Asia Pacific region. “Asia-Pacific is at a tipping point in how it protects infrastructure and industries against growing IoT security threats as digital automation continues to advance,” said Dhiraj Handa, vice president of BlackBerry QNX for the Asia-Pacific region. Jarvis is a testing tool that allows companies to look for potential branches of security in their systems. "BlackBerry® Jarvis® 2.0 is a software composition analysis and static application security testing solution that is designed to analyze binaries within complex embedded systems. It lets you identify security vulnerabilities in products that have software from multiple sources, without the need for source code. It’s a powerful tool that provides you insights into your binaries and helps you catch potential security issues with the click", from Blackberry. This is timely given the heightened security and hacker issues surrounding many systems and companies are spending increasing amounts of their IT budgets on security issues. Blackberry (BB) stock forecastThis certainly reads positively but it is early days in the process. BB stock price has recovered but remains in a powerful downtrend. The recent spike up to the 50-day moving average is encouraging but only a break of $9.47 would really get momentum back towards bulls. Breaking above $48.50 is the first target and would put BB back in a neutral stance. Above $9.47 BB stock is bullish. The first resistance is the 50-day moving average at $7.41. Blackberry (BB) chart, daily
Should Drivers Worry About Fuel Prices Again? Will Crude Oil Price Go Up!?

Even If Crude Oil Price (WTI) Pauses On The Levels Over $100, The Further Increase May Come As A Non-Stable Geopolitical Situation Persists

FXStreet News FXStreet News 18.03.2022 16:02
WTI has stabilised in a thin $102-$106ish range and at current levels in the $103.00s trades broadly flat. WTI has found a decent floor above $100 again after a rollercoaster week as traders mull Russia supply risk. More evidence of OPEC+ undershooting its output quotas (in February) are contributing to fears of a near-term shortage. Front-month WTI futures have stabilised in a $102-$106ish per barrel range on Friday amid a comparatively quiet end to what has been a rollercoaster week. Prices were sent crashing as low as the $93.00s from near $110 amid China lockdown fears as the country’s zero-Covid approach struggles to contain Omicron, but has since regained a solid footing back above $100 amid continued worries about crude oil shortages as a result of Western sanctions on the Russian economy. Momentum towards a new nuclear deal between major Western powers and Iran also seems to have waned somewhat. At current levels in the $103.00s, WTI is trading flat on the day but remains on course to post an on-the-week drop of more than $5.0, which would mark a second successive weekly loss. While prices do remain substantially lower versus last week’s highs in the $130 area, WTI currently still trades with a gain of more than $11.00 since Russia’s invasion of Ukraine. In the absence of an announcement of a Russo-Ukrainian peace deal, which still appears to be some way off, analysts suspect risks remain tilted to the upside for oil. According to a Reuters report on Friday, OPEC+ continued to undershoot its output quota in February and by an even larger margin than in January. Meanwhile, the major OPEC nations with space capacity (Saudi Arabia and the UAE) haven’t shown signs this week of caving to pressure from major oil importers (like the US) to increase output at a faster rate, despite the fact that, according to the International Energy Agency, oil markets could lose as much as 3M barrels per day in supply from Russia from April. All signs point to WTI continuing to trade at elevated levels for the foreseeable future as supply adjusts higher from non-Russian sources, which will take time.
🔥 SHIBA Volatile Move Ahead: Triangle Analysis

(SHIB) Shiba Inu Price Has Lost The Gains From The Recent Past

FXStreet News FXStreet News 18.03.2022 16:02
Shiba Inu price action falls back to Monday’s opening levels, making it a week of hardly any gains or losses. SHIB price action looks a bit bearish as another broader support test is set to kick in later today. SHIB price is still set to tank to $0.00001500 as bearish momentum continues. Shiba Inu (SHIB) price action retook a step back and pared almost all the gains from Wednesday’s rally. Investors are swinging back into bearish mode as tail risks emerge and are put at the top of the agenda going into the weekend. Conflicting rumours and contrary remarks from what is going on in Ukraine are keeping investors puzzled and refraining them from continuing to open risk-on bets. Shiba Inu price sees puzzled investors turning their back on crypto Shiba Inu price action is set to erase its gains from earlier this week. SHIB price rose after the news that peace talks were making good progress. Yet this all looked to be thrown in the bin overnight as several headlines came out about Russiabeing not at all optimistic, and the US even putting the threat of nuclear weapons back on the table, as it sees Russia possibly trying to squeeze out a peace agreement that meets all of its demands but none of Ukraine’s. Shiba Ina and other cryptocurrencies saw bulls repeating the same mistake as last week when they got squeezed out by the weekend. SHIB price action is again dropping back to the baseline of a longer term triangle with the green trend line as its base. Multiple tests up until now have been held, but with the meeting between Biden and Xi this evening, it looks clear that the US wants to get a clear answer from China as to whether it is with the US against Russia, or with Russia – offering no middle ground. The tail risk from this meeting going into the weekend could trigger a break at $0.00002111 and see a drop towards $0.00001708, the low of January, which could well overshoot towards $0.00001500. SHIB/USD daily chart Of course, a truce or ceasefire would help turn the current sentiment around. If that were to happen expect a big pop in price action, capped at a max 13% gain, to where the red descending trend line and side of the triangle intersect with the 55-day Simple Moving Average (SMA) . Yet at the moment this seems an impossible hurdle to break through seeing the weakness of bulls currently at hand.
Market Insights Podcast (Episode 344)

BOE Quick Analysis: GBP/USD buying opportunity? Three reasons see upside from here

FXStreet News FXStreet News 17.03.2022 16:34
The BOE has raised rates by 0.25% as widely but not unanimously expected. GBP/USD has tumbled on a dovish dissent, also reverting a rise beforehand. Further rate hikes, hopes for a deal on Ukraine, could help GBP/USD recover. A dovish hike – the Bank of England has delivered a cautious increase of interest rates, similar to what investors had expected from the Federal Reserve. One dovish dissenter – Jon Cunliffe who preferred to leave rates unchanged – and a subtle change in tone are genuine reasons to sell sterling. The bank previously said that further modest tightening is likely to be appropriate, and now it says it may be appropriate. One dovish dissenter out of nine and that single word do not go the full length to explain the 100-pip downfall of GBP/USD. A quick look at the chart reveals the main reason – a classic "buy the rumor, sell the fact" response. Cable has reverted to levels seen early in the day. Investors bet on a 50 bps rate hike that – 40% chance according to bond markets, and that wager totally failed. What's next? GBP/USD has room to recover from these lows, for several reasons. First, the BOE forecasts inflation to hit 8%, an alarming level and a substantial upgrade from previous projections. It would have to act to curb it, especially as long as Britain's labor market looks strong. Second, the bank's mood may swing back to a hawkish mood next time – Governor Andrew Bailey shocked markets by refraining from lift-off in November but then provided a surprising hike in December – without a press conference to explain it. The pendulum swing to the hawkish side may follow. Third, there is room for short-term recovery on hopes for a Ukraine-Russia deal, or at least a truce. Investors remain optimistic, and that could weigh on the safe-haven dollar. China's pledge to support the economy and the stock market also underpins sentiment, another greenback-adverse development. All in all, a buying opportunity seems to be on the cards after a "buy the rumor, sell the fact" response.
Trading plan for Dogecoin on June 22, 2022

Dogecoin price could tank as India’s central bank closes the doors to cryptos

FXStreet News FXStreet News 17.03.2022 16:34
The Indian Central Bank came out this morning with firm rejection against adopting cryptocurrencies in the country. Dogecoin price action undergoes firm rejection against a double technical barrier. DOGE set to tank by 8% as bears see opportunity fit to pair back gains from Wednesday yet again. Dogecoin (DOGE) price action saw bulls being hit by ice-cold water this morning as two headlines made the sky drop on their heads. These were the Kremlin coming out saying that talks are nowhere near as positive as markets are frontrunning, and the Indian Central Bank (RBI) giving a firm rejection to the adoption of cryptocurrencies. The RBI branded cryptocurrencies as a tool that will wreck the currency system, monetary authority and government's ability to control the economy. This is a significant blow and setback for cryptocurrencies that saw bulls coming up yesterday for a catch of fresh air but are now again submerged underwater with negative prints today. Dogecoin price gains short-lived Dogecoin price action is not currently in a sweet spot as in just 5 minutes, two separate comments unrelated to each other trashed bulls’ game plan to target $0.1357 next week. Instead, DOGE price action fell back to its opening price and took a step back as bulls reassessed the situation – due to some unforeseen tail risks that caused headwinds overpowering the tailwinds that emerged the day before. Expect to possibly see DOGE price action tumble again to the downside, in a similar scenario to last week. DOGE price action got a firm rejection from negative headlines at $0.1197 with the green ascending trend line and that intermediary top-line proving too big for bulls to take on. Instead, price action collapsed back to the entry-level and looked heavy and dangling, as if poised to drop at any moment to the downside. A possible downside target is set at $0.1137 and $0.1100 with the last one making a triple bottom – although there is also the risk of a break even further to the downside if more tail-risk materialises. DOGE/USD daily chart Once the US session takes over, it could well be that investors look beyond these very short-term headlines, considering them as partial hiccups before moving on. That would mean a pickup in buying interest which could lead to a punch through $0.1197 to the upside. This would open the door towards $0.1242 intraday and possibly again on track for $0.1357.
Here's your first look at Cyberpunk: Edgerunners! Coming to Netflix this September!

AMC Stock Price: AMC Entertainment spikes 8% on Wednesday

FXStreet News FXStreet News 17.03.2022 08:29
AMC stock gains on Tuesday as equities and growth stocks rally. More gains are likely on Wednesday for AMC shares as peace hopes rise for Ukraine. AMC Entertainment also saw increased attention from its investment in Hycroft Mining. AMC shares are up 8% to $15.65 as better prospects for peace in Ukraine seem to be lifting up the entire market. The Nasdaq has risen an optimistic 2.7% about one hour into Wednesday's session. Further positivity is in motion with the start of the Federal Reserve's Federal Open Market Committee two-day meeting that is expected to usher in a 25 basis point rise in the fed funds rate. The rise in interest rates should slow this year's hike in inflation. This price action is certainly exciting for AMC apes, who have witnessed AMC stock drop to the low $13s earlier this week. AMC Entertainment did benefit in Tuesday's afternoon session from its acquisition of Hycroft Mining, but it seems the stock is gaining more interest on Wednesday for this buy. Now its acquisition target, HYMC, has seen its shares go in the opposite direction on Wednesday. HYMC stock is trading down 9% at $1.37 at the time of writing. AMC stock closed higher on Tuesday as investors took comfort from the continued collapse in oil prices and hoped for some form of peace in Ukraine. It was oil that was the big driver for equity markets, and growth stock, in particular, bounced hard as this sector had seen the bigger losses since the year began. It is hard to see guess whether this movie can be sustained long term though as yields have once again moved up. This should stall growth stocks. A peace deal would see further gains for all sectors, but then these may be capped if yields keep rising. The Fed decision later on Wednesday will give us more clarity on this. AMC Stock News The big news yesterday though for AMC apes was the investment in Hycroft Mining by AMC. This was right out of left field and remains a puzzling one to say the least. Hycroft Mining is a gold and silver miner with one mine in Nevada. The company has not turned a profit since 2013 and last November said it may need to raise capital to meet future financial obligations. The company also laid off over half of its workforce at the mine last November. This is a pretty high-risk investment and perhaps AMC and AMC apes are used to that. It was only a small outlet as CEO adam Aron alluded to. Nevertheless, the Hycroft Mining (HYMC) stock price soared as retail investors piled into the name. By the opening of the regular session on Tuesday, HYMC stock was trading nearly 100% higher, but it closed only 9% higher at $1.52 having traded up to $2.97. The reason for the dramatic turnaround was probably a bit of reality set into investors once they had a look at Hycroft Mining and its financial condition. The main reason was a Bloomberg report saying that Hycroft Mining could do a $500 million share sale by as early as next Tuesday. We understand the sale is ongoing and being led by B.Riley Securities. AMC Stock Forecast We were quite negative on this deal on Tuesday and remain so. At least it is not a big investment for AMC, but it still reads poorly. This will not endear AMC stock to further credibility in our view. CNBC carried out a report yesterday about the surge in price and volume trading in HYMC stock before the AMC announcement: "Small mining firm with troubled history saw big spikes in stock price, trading volume ahead of AMC deal." Tuesday's move took AMC back up to our resistance level at $14.54, which was a key breakdown level. Below this and AMC remains bearish. Above $14.54 is neutral. We remain bearish on AMC with a target price of $8.95. AMC stock chart, daily Prior Update: AMC stock opened higher on Wednesday as the stock market remains on edge over the potential for some form of a peace deal in Ukraine. Oil prices falling sharply has also helped investor sentiment. AMC is currently trading at $14.77 for a gain of exactly 2% after 5 minutes of the regular session on Tuesday. Hycroft Mining (HYMC) stock is trading 4% lower at the same stage on Wednesday. Later we get the Fed interest rate decision which may hamper more progress from growth stocks but for now, it is full steam ahead. AMC is back among the top trending stocks on social media sites and interest seems high. $14.54 remains a key level for AMC to hold above if it wants to have put a bottom formation in place. Otherwise, it will return to the bearish trend and look to target $8.95 in our view.
Bitcoin price undergoes sharp fade as bulls storm out of the gate

Bitcoin price undergoes sharp fade as bulls storm out of the gate

FXStreet News FXStreet News 16.03.2022 16:28
Bitcoin price action jumped 7% but fell back sharply in European trading.BTC price action looks to be set to jump above $41,756.61 once the US session kicks in.Expect to see a further continuation of this price jump throughout the week as long as positive signals come from the ongoing talks in Russia.Bitcoin (BTC) price action is performing a countercyclical move this morning as Asian bulls storm out of the gate on positive-speak from the Chinese government. From now on into the European session, gains are still present but have faded slightly. Expect to see a subsequent round of wins coming in during the US session and going further into this week as long as positive signals are communicated independently from both sides in Ukraine and Russia peace talks.Bitcoin price sees bulls swimming against the tideBitcoin price action seems to have awakened many investors who fell asleep staring at their television screen for the past three weeks on the Russian invasion of Ukraine. As they pulled out their money and went long cash, cryptocurrencies dried up a bit and were left to the mercy of bears. Today a few bears will be licking their wounds as bulls have gone in for a push higher as more positive signals come from both Ukraine and Russia on talks, and markets are getting used to the war headlines as everything looks to be priced in. BTC price action technically got rejected to the upside at $41,756.61, the base of a bearish triangle that formed a few weeks ago. Expect this fade in early trading to provide a window of opportunity for European and American bulls to join the rally and ramp up the price above $41,756.61, where a close above will be key this evening. If trading can start on Thursday with an opening price above $41,756.61, expect to see another leg higher by tomorrow evening, near $44,088.73 and even $45,261.84 by Friday.BTC/USD daily chartThe risk could be that the current fade, after the rejection at $41,756.61, could topple into a deeper loss if bears push the price below the opening price. This would trigger panic amongst bulls that got in and will have them remember the same scenario that happened exactly one week ago on Wednesday with a false breakout and a full paring back, and even eking out further losses the day after. Expect bulls to exit instantly once BTC price action prints red numbers, and this to spiral into a setback for BTC price towards $38,703.32 or even $36,709.19.
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GameStop (GME) Stock News and Forecast: What to expect from GameStop earnings

FXStreet News FXStreet News 15.03.2022 16:27
GameStop stock is back on the top trending list but still struggling. GME stock is down 43% year to date. GameStop releases earnings on Thursday after the close. GameStop (GME) is back on the top trending lists, though it has not been seen for a while. Some other stocks have taken the limelight, recently some micro-cap oil stocks, but these have gone back to sleep now as the crowd moves on. GameStop was the original though, and it releases earnings after the close on Thursday. This is generating some attention on the usual social media sites and helping the GME stock price too. At the time of writing, GME stock is up 1.4% at $79.05. GameStop Stock News GameStop earnings are out after the close with a conference call afterward. GME is expected to report earnings per share (EPS) of $0.84 and revenue of $2.22 billion. This would be a marked improvement on Q3 earnings, which it reported on December 8. Back then EPS was forecast at $-0.52 but came in way behind at $-1.39. Revenue came in ahead of forecasts back then too. GME lost 10% the day after its Q3 earnings. We remain bearish on GME stock though and cannot argue against the current trend. The stock has lost 65% over the last nine months and has been on a one-way spiral. The current environment is punishing high growth stocks, and the recent spike in yields will only add to that. It needs blockbuster earnings on Thursday from GME to change that sentiment. GME still trades on a very high multiple compared to other consumer stocks, and rising inflation will hurt. GameStop is also a high street store. It pays wages, electricity, etc., all of which are rising and will continue to do so. GameStop Stock Forecast GME stock closed below our key support at $86 on Monday. This will likely lead to more selling pressure. That will bring GME quickly down to $70, and we may then see a stabilization period as volume is quite strong around the $70 level. GameStop (GME) stock chart, daily    
🔥 SHIBA Volatile Move Ahead: Triangle Analysis

(SHIB) Shiba Inu Price - How Will Be The Altcoin Affected?

FXStreet News FXStreet News 15.03.2022 16:27
Shiba Inu price action sees price pressure against the technical triangle base at $0.00002140. SHIB price action set to test the low of its existence. As global markets threaten to drop into a recession, investors will flee cryptocurrencies in the coming days. Shiba Inu (SHIB) price action is on the cusp of breaking out of a bearish triangle that has dictated price action over the past two months. With a break to the downside, room opens up for an almost 70% drop towards the lowest levels in its existence as investors flee cryptocurrencies overall, following more and more reports that global markets are going into recession. With this dire projection in mind, expect to see further bleeding of SHIB price action as it falls back to $0.00000655. Shiba Inu price action bleeds as investors flee from recession fears Shiba Inu price action is seeing a massive squeeze building from bears trying to break out of the bearish triangle as more and more headwinds combine each day. The situation in Ukraine and new lockdowns in China are spelling supply chain issues again, and banks are starting to use the word recession more often in their reports about the future. This weighs on investor sentiment as cryptocurrencies are put on the backfoot and witness a daily outflow of cash from investors pulling the plug on their positions. SHIB price looks to break below $0.00002140 any moment now, with considerable momentum behind it from the death cross with the 55-day Simple Moving Average (SMA) below the 200-day SMA. Next to that, the Relative Strength Index is nowhere near being oversold, opening the door for short sellers to pick up some more gains in the downtrend. Expect to see a sharp drop in the coming days towards $0.00001000, breaking the monthly S1 and S2 support levels along the way, only to find a floor near $0.00000607, which is near the lowest level in SHIB’s. SHIB/USD daily chart Although red flags are popping up all over financial markets, investors could still be working on a turnaround in an attempt to look beyond the current crisis at hand. If central banks can steer economies out of this dire situation, expect investors to start buying into cryptocurrencies to take advantage of lucrative discounts. This could spill into a turnaround and see price action first pop back above $0.00002500, breaking the bearish 55-day SMA and hitting $0.00002787, above the 28.6% Fibonacci level.
Apple Stock News and Forecast: AAPL likely to see more supply chain disruptions, $120 price target

Apple Stock News and Forecast: AAPL likely to see more supply chain disruptions, $120 price target

FXStreet News FXStreet News 14.03.2022 15:57
AAPL stock closed lower on Friday as fears over Ukraine escalation hit.Apple is likely to see more supply chain disruptions due to Chinese lockdowns.Inflation will also cause significant headaches for Apple's top brass.Apple's stock (AAPL) closed lower on Friday as initial optimism on peace talks was quickly washed away by reports of an escalation of the Russian conflict in Ukraine. The market closed lower for the Nasdaq and S&P 500, and most sectors were dragged lower. Apple was not immune to the selling pressure. Apple Stock NewsApple did stage a mid-week product release called Peak Performance. The company unveiled a lower-cost iPhone and some other products in the Mac and IPad space, but the show failed to generate much investor enthusiasm as geopolitical events remain dominant. The analyst community was reasonably impressed with the launch though with Loup stealing the show as they slapped a $250 price target on Apple."Apple remains our Top Pick in IT Hardware given durable fundamentals, predictable cash flows, additional 2022 product launches, and platform stability in an otherwise uncertain and volatile market backdrop," Morgan Stanley said as they put a $210 price target on the stock.However, we note the situation in China over the weekend where lockdowns are back in the cards as the country tries to contain the latest covid surge. According to Reuters, Foxconn has had to close its Shenzen factory, and that will be a hit to Apple's supply chain. The closure is expected to be brief, but the situation is fluid. Assuming this is the Omicron variant, then it is extremely transmissible compared to earlier versions where China was able to contain the circus using strict lockdowns. This is not a good look for Apple.Apple Stock ForecastApple stock is now likely to break the key support at $153.17 today as the market will take the lockdown news negatively. But more importantly, breaking this support at $153.17 means Apple will also break the 200-day moving average, which is set just above at $153.60. This adds yet more negative momentum to the picture. The move will likely slow as there is a lot of volume down here as we can see from the volume profile bars on the right of the chart. It does bring $138.31 as the next target though. The declining Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are confirming the bearish trend.Apple chart, daily
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Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto markets in disarray

FXStreet News FXStreet News 14.03.2022 15:57
Bitcoin price loses momentum as it slides back into consolidation along the $36,398 to $38,895 demand zone. Ethereum price slides below a symmetrical triangle, hinting at a move below $2,000. Ripple price remains bullish as bulls eye a retest of $1 psychological level. Bitcoin price continues to tag the immediate demand area, weakening it. Despite the sudden bursts in buying pressure, BTC seems to be in consolidation mode. Ethereum price has triggered a bearish outlook while Ripple price shows signs of heading higher. Also read: Gold Price Forecast: Lower lows hinting at a steeper decline Bitcoin price moves with no sense of direction Bitcoin price dips into the $36,398 to $38,895 demand zone for the fourth time without producing any higher highs. This price action is indicative of a consolidation and is likely to breach lower. A daily candlestick close below $36,398 will invalidate the demand zone and knock BTC to retest the weekly support level at $34,752, which is the last line of defense. A breakdown of this barrier will open the path for bears to crash Bitcoin price to $30,000 or lower. Here, market makers will push BTC below $29,100 to collect liquidity resting below the equal lows formed in mid-2021. BTC/USD 1-day chart While things look inauspicious for Bitcoin price, a strong bounce off the said demand zone that retests the weekly supply zone, ranging from $45,550 to $51,860, will provide some relief for bulls. Ethereum price favors bears Ethereum price action from January 22 to March 4 created three lower highs and higher lows, which, when connected via trend lines, resulted in a symmetrical triangle formation. This technical formation forecasts a 26% move obtained by measuring the distance between the first swing high and swing low to the breakout point. On March 6, ETH breached below, signaling a bearish breakout, which puts the theoretical target at $1,962. A breakdown of the weekly support level at $2,541 is vital; a breakdown of this barrier will expedite the move lower. ETH/USD 1-day chart Regardless of the recent onslaught of bearishness, Ethereum price needs to produce a daily candlestick close above $3,413 to invalidate the bullish thesis. Such a development will also open the possibility of kick-starting a potential uptrend. https://youtu.be/-U0QTf_NwnI Ripple price maintains its bullish momentum Ripple price traverses a bull flag continuation pattern, a breakout from which hints at a continuation of the uptrend. This technical formation contains an impulsive move higher followed by a consolidation in the form of a pennant. The 55% rally between February 3 and 8 formed a bullish flag pole continuation pattern, and the consolidation that ensued in the form of lower highs and higher lows created the pennant. Together, the bullish setup forecasts a 31% ascent for XRP price, obtained by adding the flag pole’s height to the breakout point from the pennant. On March 11, Ripple price broke out from the pennant, signaling the start of the 31% uptrend to $1. So far, the retest seems to be holding up well, so investors can expect the remittance token to continue its journey higher to the $1 psychological level. XRP/USD 1-day chart A daily candlestick close below the immediate demand zone, ranging from $0.689 to $0.705, will create a lower low and invalidate the bullish thesis for Ripple price. In such a case, XRP has the twelve-hour demand zone, extending from $0.546 to $0.633 to support any residual selling pressure. https://youtu.be/rCFQmMHWJZ4
AUD/USD finds support near 0.7300 mark on Russian President Putin’s comments

AUD/USD finds support near 0.7300 mark on Russian President Putin’s comments

FXStreet News FXStreet News 11.03.2022 13:37
AUD/USD witnessed fresh selling on Friday and snapped two successive days of the winning streak.Dovish remarks by RBA Governor Lowe, modest USD strength exerted some downward pressure.A goodish recovery in the risk sentiment helped limit further losses for the perceived riskier aussie.The AUD/USD pair recovered a few pips from the daily low, around the 0.7300 mark touched in the last hour and was last seen trading around the 0.7325 region.The pair struggled to capitalize on its gains recorded over the past two trading sessions and witnessed some selling on Friday in reaction to dovish-sounding remarks by the RBA Governor Philip Lowe. During his opening address to the Australian Banking Association, Lowe said that the RBA will not be pressured by financial markets to raise interest rates until prices are rising at a sustainable pace.Apart from this, some intraday US dollar buying exerted additional downward pressure on the AUD/USD pair. That said, hopes of a diplomatic solution to the Ukraine crisis lifted the global risk sentiment and acted as a headwind for the safe-haven greenback. The optimism was fueled by comments from Russian President Vladimir Putin, saying that there are certain positive shifts in talks with Ukraine.The latest developments triggered a goodish move up in the equity markets, which, in turn, extended some support to the perceived riskier aussie. The risk-on mood, along with firming expectations for an imminent start of the policy tightening by the Fed pushed the US Treasury bond yields higher. This should act as a tailwind for the USD and keep a lid on any meaningful upside for the AUD/USD pair.Hence, it will be prudent to wait for some follow-through buying before confirming a near-term bullish bias amid the risk of a further escalation in tensions between Russia and the West. In fact, US President Joe Biden is set to call for an end of normal trade relations with Russia later this Friday, alongside the Group of Seven nations and European Union leaders.
Price Of (SHIB) Shiba Inu In Times Of Inflation And The Conflict

Price Of (SHIB) Shiba Inu In Times Of Inflation And The Conflict

FXStreet News FXStreet News 11.03.2022 13:37
Shiba Inu price action sees volume wearing thinner due to investors remaining sidelined as peace talks in Ukraine stall. SHIB bulls are a bit puzzled about what to do next as global worries on inflation and Ukraine are dampening any upward potential in SHIB price action. Expect to see the price go sideways to lower today, heading into the weekend. Shiba Inu (SHIB) price action has not been in a sweet spot for investors this week. With whipsawing price action and bears still sitting on lucrative gains, investors got burned several times on false breakouts and mixed signals coming from both the markets and price action in SHIB. Expect a large number of funds to stay sidelined as more peace talks get underway, but Russia’s stance of not wanting to meet Ukraine halfway, suggest those talks are likely to end in failure rather than success. Shiba Inu price reveals that bulls are not taking chances as new peace talks have no chance of succeeding Shiba Inu price action is on a slow downward burn after bulls got tempted in to what looked like a relief rally but instead turned out to be a full-fledged bull trap, squeezing bulls out of their positions, paring back all the gains accrued, and even making a new low for the week this morning. With the Relative Strength Index flatlining, it looks as if SHIB’s balance between bears and bulls is in gridlock as bulls do not want to engage without a clear positive catalyst, and bears are sitting on a pile of profits that they do not want to offload at the current levels. It will take either a breakthrough in peace talks or another catalyst to form some counterweight against the forecast of stagflation and further deterioration in Ukraine that is at the moment directing price action in Shiba Inu. SHIB price will test the new lows for this week and looks set to drop to the green ascending trend line near $0.00002108, which falls roughly in line with the low of February 24. Depending on how the US dollar behaves, expect to see some movement to the upside, but nowhere near the high of yesterday, so relatively muted below $0.00002400. Expect SHIB price action to go into the weekend within that price range, awaiting any headlines that could set the tone for next week. SHIB/USD daily chart If a breakthrough is made on some front, or some economic data opens a window of relief, expect to see a pop above $0.00002400, breaking the high of yesterday and opening up more upside towards $0.00002533, which is the 55-day Simple Moving Average (SMA). SHIB price action would print a new high for the week with this. As the red descending trend line is in the near vicinity, expect possible bulls to try and reach out to that level, near $0.00002636, for a test and possible break to the upside if the positive sentiment only gains traction going into the weekend.
ECB Analysis: EUR/USD selling opportunity? Taper helps with inflation, full war shock still to come

ECB Analysis: EUR/USD selling opportunity? Taper helps with inflation, full war shock still to come

FXStreet News FXStreet News 10.03.2022 16:14
The ECB has announced a quick phasing out of bond buys, boosting the euro.Shoring up the currency helps the eurozone in the short term.The full impact of Russia's Ukraine invasion is still to come.ECB may refrain from rate hikes in 2022, bringing the euro down.Influenced by inflation, (almost) ignoring the war – the European Central Bank has announced a fast pace of tapering its bond-buying scheme as prices rise and despite the adverse effects of Russia's invasion of Ukraine. EUR/USD has jumped, but it may be premature. The ECB plans to buy some €40 billion worth of bonds in April, falling to €30 billion in May and €20 billion in June. That opens the door to raising interest rates already in the summer rather than in the autumn. While that would not be considered surprising after the previous decision, it seems hawkish given the war. After two weeks of fighting, the Frankfurt-based institution seems to focus on the surge in commodity prices coming from Russian President Vladimir Putin's "special operation." Russia is the world's third-largest oil producer and some 40% of European natural gas is sent on orders from Moscow. Ukraine and Russia are responsible for a substantial portion of global wheat exports, and port blockades are already felt in supermarkets.However, Russia's atrocities in a European country are pushing prices higher and destroying demand. A war on the doorstep of the eurozone is hitting confidence and also leaving consumers with less money to spend. Even if headline inflation rises, underlying prices may fall.ECB President Christine Lagarde promised decisions based on new forecasts presented in March, but these new projections may remain slient while the cannons are heard. The taper announcement serves to push the euro higher and somewhat squeeze the prices hikes coming from imports. However, that is nothing in comparison to the economic damage done by the war and the sanctions, and that may eventually haunt the common currency. It may come sooner than later, providing a selling-opportunity on EUR/USD now.
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Ethereum price consolidates before a 34% breakout

FXStreet News FXStreet News 10.03.2022 16:14
Ethereum price faces a decisive moment as it coils up inside a symmetrical triangle. Investors can expect a 34% move in either direction, considering the ambiguous nature of the setup. A move to the upside seems unlikely due to the presence of multiple resistance barriers. Ethereum price action shows an interesting setup that forecasts the possibility of a massive move in both directions. However, considering the technical aspects, the probability of a down move appears more plausible for ETH. Ethereum price is stuck consolidating Ethereum price sets up three lower highs and two higher lows since January 24. Connecting these swing points using trend lines results in a symmetrical triangle formation. This technical formation forecasts a 34% move in either direction obtained by measuring the distance between the first swing high and low. A bullish breakout at roughly $2,882 puts the target at $3,874, but a bearish move below $2,405 reveals the target at $1,578. However, an upside move is less likely due to the presence of the weekly supply zone extending from $2,927 to $3,413. Moreover, the 50-day Simple Moving Average (SMA) has kept the price capped for the last three months. Additionally, the 100-day SMA present inside the weekly supply zone makes this confluence a stiff hurdle to overcome. Therefore, a six-hour candlestick close below $2,405 would indicate a breakout and forecasts a 34% crash to $1,578. ETH bulls might prevent such a steep correction due to the weekly support level at $1,730. ETH/USDT 6-hour chart On the other hand, if Ethereum price witnesses a massive surge in buying pressure that kick-starts a bullish breakout, investors can expect the upside to be capped around the 200-day SMA at $3,543 or $3,600. Any move beyond this level will require a massive inflow of stablecoins or a pileup of bid orders, which is unlikely considering the consolidative nature of BTC and ETH’s correlation to it.
Crude Oil (WTI) Price Changes, Another Part Of Russia-Ukraine Negotiations Incoming

Crude Oil (WTI) Price Changes, Another Part Of Russia-Ukraine Negotiations Incoming

FXStreet News FXStreet News 09.03.2022 16:19
Better sounding newsflow regarding the possibility of a diplomatic solution to the Russo-Ukraine war is weighing heavily on crude oil. Talks between the Russian and Ukrainian Foreign Ministers on Thursday will be key. WTI is currently down more than $7.50 as traders also mull a possible US/Iran nuclear deal and further reserve releases. A slightly more conciliatory tone to the rhetoric from Ukrainian and Russian officials regarding the possibility of a diplomatic solution to the war ahead of Thursday’s meeting of the two nations’ Foreign Ministers in Turkey has seen oil markets plunge. Russia said on Wednesday that “some progress” had been made with Ukraine and laid out a potential territorial compromise, while a Ukrainian official close to President Zelenskyy hinted that Russian demands for “neutrality” can be discussed. Front-month WTI futures have subsequently tanked nearly $6.50 per barrel on the session to near the $118 level, a near $12 turnaround from Tuesday’s highs near $130. Traders also said that markets were taking a more relaxed view on the US ban on Russian oil imports announced on Tuesday and that this was weighing on prices. “Theoretically, the US could even offset the outages from Russia with its own production,” said an analyst at Commerzbank. Elsewhere, some traders cited expectations for more oil reserve releases as triggering profit-taking after the head of the International Energy Agency hinted that last week’s decision by member nations to release 60M barrels could be the first of further releases. As oil traders continue to juggle numerous competing themes, choppy market conditions are likely here to stay for some time. With Iran’s chief negotiator in the nuclear talks having arrived back in Vienna on Wednesday to continue discussions, it may well be that a deal is imminent, despite recent concerns that the Russians were adding additional demands. A deal would pave the way for over 1.3M barrels in daily Iranian crude oil exports to return to global markets. In the more immediate future, focus will return to the global crude oil inventory situation with the release of weekly official US data at 1530GMT.
How Will The Next Events Around Russia-Ukraine Conflict Affect Markets?

How Will The Next Events Around Russia-Ukraine Conflict Affect Markets?

FXStreet News FXStreet News 09.03.2022 16:19
Russia's denial of wanting to overthrow Ukraine's government has boosted the market mood. Ongoing bombing, accusations of using biological weapons may come to haunt markets. The safe-haven dollar and gold have room to recover after the recent slide. All markets are saying, is give peace a chance – paraphrasing John Lennon's song, that is what is going on, with stocks and risk currencies rising while safe-haven assets are tumbling down. However, it may become worse before it becomes better. The latest bout of optimism stems from Russia's statement that it does not seek to overthrow Ukraine's government and its preference to resolve differences via discussions. The Kremlin added that it has never threatened and does not threaten NATO. These olive branches join Tuesday's news that Ukrainian President Volodymyr Zelenskyy signaled he is willing to give up NATO membership and the upcoming meeting of the two countries foreign ministers planned for Thursday in Turkey. On the ground, a humanitarian ceasefire is in effect in several Ukrainian cities on Wednesday, and civilians are begin evacuated, so far safely. Markets have reacted positively to these developments, with S&P futures jumping by 2%, EUR/USD jumping by some 80 pips, and safe havens such as gold and the dollar suffering significant falls. Is the war nearing its end? Not so fast. Reasons to worry First, Russia continues bombing Kyiv and is likely using this day of relative calm to regroup and resupply its troops, which have suffered massive logistical failures. Several of the previous ceasefires were not respected and this may happen again. Secondly, Russia's statements are also one that the US has declared economic war on it. Such comments contradict the better vibes that have previously boosted the market mood. Russia also accuses its enemy of developing biological weapons, in what seems like an excuse to intensify attacks. Third, Ukrainian President Zelensky called on Russian troops to "surrender while you still can" and that "we will answer in full for all our killed people" – militant statements are not exclusive to one side. The war will eventually end, hopefully, sooner rather than later. However, it seems overoptimistic to circle Wednesday as the beginning of the end, and that everything improves from here. Another escalation may come shortly, souring the market mood and boosting the safe-haven gold and dollar. Moreover, with every day that passes, the damage to the global economy increases. While shortages of energy have yet to be seen – prices are rising without any stop in the flow of oil or gas – food issues may become a burden for the global economy. Russia and Ukraine produce a vast amount of wheat and barley, which are now blocked. That is already raising food prices. And while the war continues, so do new Western sanctions. The EU has approved a new list of restrictions on Russian leaders and oligarchs, and also disconnect several Belarusian banks from the SWIFT payments system. All in all, it will likely get worse before it becomes better and that means another rush to the dollar and gold.
Positive News From Europe Supports (BTC) Bitcoin Price - Is $40.000 Coming?

Positive News From Europe Supports (BTC) Bitcoin Price - Is $40.000 Coming?

FXStreet News FXStreet News 08.03.2022 16:05
Bitcoin price action sees bulls storming out of the gate, with BTC bouncing off a $38,073 historical pivot. BTC price set to tick $39,780 intraday in a range-trading profile. Expect to see more upside, should BTC continue its rally from positive signals out of Ukraine, and punch through the 55-day SMA. Bitcoin price action is back on the front foot today as global markets surf positive news of a ceasefire and fresh round of talks between Russia and Ukraine. The lift in positive sentiment spilled over into cryptocurrencies and saw positive prints across the board. Bitcoin was no different, with the price up 2.30% for the day at the time of writing and a possible tick of over 4% profit going into the U.S. session this evening. Bitcoin sees bulls taking over in ceasefire setback for bears Bitcoin price action is whipsawing between $45,000 to the upside and $34,000 to the downside, in a bandwidth that has been drawn since January. With global markets remaining stressed and on edge, today is set to give a sigh of relief and blow off some steam out of the pressure cooker that is Ukraine. Expect to see further decompression going into the U.S. session as this positive news gets picked up and translated into another round of bullish uplift for the cryptocurrency. BTC price is set to tick $39,780 and will try to break the high of last weekend. But bulls will immediately face another level of resistance, with the 55-day Simple Moving Average (SMA) around $40,250, and the $40,000 level in the way. Add to that the monthly pivot at $41,000 – so within a $1,000 – and there are three bearish elements capable of cutting short any attempts for further upside if no additional relief catalysts are added to the current headlines. BTC/USD daily chart Over the weekend, a ceasefire was already tried but failed after just a few minutes. Should that be the case again, expect this to break the fragile trust that has been in place now since recent talks yesterday. Expect BTC price action to be pushed back to $38,073 a drop of around 4%.
Boeing Company Stock News and Forecast: BA slips on Russian supply woes

Boeing Company Stock News and Forecast: BA slips on Russian supply woes

FXStreet News FXStreet News 08.03.2022 16:05
Boeing stock falls as Russian raw material supplies are likely to be in short supply. Boeing earlier said it was suspending buying Russian titanium. BA stocks fell over 6% on Monday as main indices fell over 3%. Boeing (BA) stock slipped on Monday, even disproportionally versus the main market. While the S&P 500 and the Nasdaq fell in the region of 3% to 4%, Boeing underperformed as it fell just under 6.5%. Boeing Stock News Monday's move took Boeing stock to new 52-week lows as the stock remains pressured in the current risk-off environment. The Wall Street Journal reported on Monday that Boeing had suspended purchases of titanium from Russia as the company felt it had enough supply from other sources. “Our inventory and diversity of titanium sources provide sufficient supply for airplane production, and we will continue to take the right steps to ensure long-term continuity,” a Boeing spokeswoman told WSJ. Also on Monday Cowen & Co. lowered their price target for Boeing from $265 to $230. Cowen maintained their outperform rating on Boeing. Breaking Defense had last week reported that Air Force One's replacement was running up to 17 months late, according to two sources. Boeing is the supplier of Air Force One. Boeing will also likely feel headwinds from the current surge in oil prices. While not directly affected, higher oil prices will flow through to higher airfares and a likely reduction in passenger demand. This would see a knock-on but delayed demand for additional planes affecting Boeing and its main competitor, Airbus. However, Boeing does have a large military division. At the end of 2021 the Boeing Defence, Space & Security division accounted for over 33% of total Boeing revenues. The US Department of Defense is the top customer of this division. Boeing Stock Forecast Breaking the 52-week low is significant, and from the weekly chart below we can see how Boeing failed to regain its pre-pandemic levels. This should have been setting off alarm bells as stocks and indices reached all-time highs. The aerospace sector was a special case, but technically this was a bearish signal. BA stock chart, weekly The daily chart outlines the series of bearish lower lows and highs. Any rally to $185 can be used to instigate fresh bearish positions. BA stock chart, daily
Indonesia Energy Stock News and Forecast: INDO stock pumps, so wait for the dump

Indonesia Energy Stock News and Forecast: INDO stock pumps, so wait for the dump

FXStreet News FXStreet News 07.03.2022 15:42
INDO stock surges over 100% on Friday as oil prices rise. INDO shares up another 27% in premarket trading on Monday. INDO is an early-stage explorer with limited production so will not benefit much from surging oil prices. It is good to see the retail frenzy is alive and well, and it has just moved from targeting short squeeze companies to targetting low market cap and low free float energy companies. Given the obsession markets currently have with surging oil prices, there is a certain logic to this. Indonesia Energy Corporation (INDO) appears to be one of the more favored stocks by the retail set who managed to double it on Friday alone. In fact for March, INDO stock is up over 400% already, an impressive performance even with oil itself surging. Indonesia Energy Corporation is an oil and gas explorer focusing on Indonesia, hence the name. Indonesia Energy Corporation Stock News INDO stock appears to have caught the attention of retail investors due to its very low share free float. This makes it more volatile, and with oil prices surging this suits some traders who like to jump on surging momentum. INDO stock has been one of the top trending stocks on the usual social media message boards for the last few days due mostly to its surging price. As ever in such a scenario, we would urge caution. This is momentum trading not investing, so wild swings and heavy losses are a distinct possibility. INDO is a tiny company with a market cap of $300 million now despite revenue never being more than $6 million over the last five years. "IEC's average daily production rate over the first 10 months of 2021 was approximately 160 barrels of oil per day. Since completion of the Kruh 26 well, IEC has been averaging production of approximately 245 barrels of oil per day," it says on the company website. At full-scale production for a year that barely gets over $10 million in revenue. Yet traders have seen fit to quadruple its share price in about a week. This should be ringing alarm bells for most of you. For those that like to trade volatility, go ahead. Just know that this is a pure momentum trade and could fall back just as quickly as it rose. Indonesia Energy Corporation Stock Forecast INDO has a tiny free float of about 2 million shares. That means with volumes surpassing 30 million shares on Friday, it is pretty easy to get it moving. This is way overdone and likely to come tumbling back down to earth. If you want to have fun, go ahead, but know your risk and trade what you can afford to lose. The nature of these types of moves, which we are getting more and more used to knowing, is that momentum is very powerful in the initial stages. Once reality sets in, the first down day is the sign that momentum is over and the crowd moves on to the next opportunity. So try not to be late for the party. INDO stock chart, daily
Can Price Of Avalanche (AVAX) Hit $76? AVAX Interaction With USD

Can Price Of Avalanche (AVAX) Hit $76? AVAX Interaction With USD

FXStreet News FXStreet News 07.03.2022 15:42
Avalanche price action sees bulls dipping toes in to buy stakes. AVAX price is up for today, but a bull trap and longer-term downtrend are set to be triggered by an extensive technical event. Should more dollar strength come into the equation, expect to see AVAX drop below $50. Avalanche (AVAX) is set to shed around 36% of its market cap as, although being on the front foot at the moment, a broader technical bearish signal is set to be triggered. A death cross is when the 55-day Simple Moving Average crosses below the 200-day SMA – as is currently happening on AVAX. Expect Avalanche price to hit $76 sometime today and then eventually drop to the downside as dollar strength will outweigh the current uptick. Greenback is no match for AVAX bulls and sets the stage for a further pullback Avalanche price action is under pressure after another weekend of losses, with the price dropping below $70 intermediary support at the open. Although AVAXis bouncing a bit at the moment, a very bearish signal is just ahead as the 55-day SMA is on the cusp of dropping below the 200-day SMA, triggering a massive inflow of bears that will look to short-sell AVAX across the board, possible resulting in price action being slashed by 36%. Add to that the dollar strength, and expect bulls to be outmatched each time by the weight of the dollar, overpowering investors that look to enter too soon so as to preposition for the relief rally. AVAX/USD compared with DXY daily chart Levels mean AVAX price action could range between $76 to the upside and $70 to the downside. Expect with the dollar on the front foot, more dollar strength to be poured into the AVAX/USD cross and see AVAX dip towards either the monthly S1 at $66.47 or $61.62, a pivotal historical level. Should there be more dollar strength with EUR/USD going to 1.05 or even parity, expect AVAX price to dip towards $46, breaking below $50. AVAX/USD daily chart In the event of some relief headlines AVAX price could shift in direction, squeezing some short-term bears out of their positions and triggering a pullback to $81. The 200-day SMA and the 55-day SMA are in the way, so expect some early profit-taking when price hits those two, before reaching the actual $81-marker. Following that, the rally will probably have slowed down to such an extent that a break of the longer-term red descending trend line looks highly unlikely.
NFP Quick Analysis: Jobs jump again, adding fuel to the war-related dollar fire

NFP Quick Analysis: Jobs jump again, adding fuel to the war-related dollar fire

FXStreet News FXStreet News 04.03.2022 16:07
The US has gained a whopping 678,000 jobs in February. Slower wage growth is due to the return of lower-paying jobs, and markets are set to ignore it.Russia's invasion of Ukraine is already boosting the dollar and it now gets another push.As if the dollar needs another boost – February's Nonfarm Payrolls have confirmed that the US labor market is on fire. The economy is benefiting from the retreat of the Omicron COVID-19 variant, which further cements the first pandemic-era rate hike from the Federal Reserve. The war will not stop the central bank.The US gained no fewer than 678,000 jobs in February, on top of an upward-revised and strong 481,000 increase in January. Moreover, the unemployment rate slipped to 3.8% – an excellent number in absolute terms, and even better when coming amid an increase in the participation rate to 62.3%. All these figures beat estimates. The disappointing data comes from wages, which remained flat in February and only 5.1% up YoY compared with 5.7% recorded in January. However, that is due to the much-needed return of leisure and hospitality workers who are paid lower wages. Broader employment outweighs a drop in wages. The greenback has been benefiting from Russia's invasion of Ukraine, which is now on its ninth day. The latest scare comes from Europe's largest nuclear power station, which was hit by Russian fire and later taken over by invading soldiers. With every day that passes without a resolution, the global economic damage intensifies. For the Fed, a 5.1% increase in wages as seen in Average Hourly Earnings continues supportingthe need to raise rates. Substantial job gains go hand in hand with employers competing for employees, pushing their salaries higher – and in turn adding to price pressures. Higher energy prices had already shown that such shocks tend to propagate into the broader economy, lifting core prices and salaries. The war has sent oil and gas surging, threatening to further boost inflation. While this NFP report is unlikely to push the Fed to a double-dose rate hike, it could convince officials to forecast a steeper path of increases to borrowing costs. That would further underpin the greenback. In the shorter term, the mix of a strong jobs report, the ongoing war and the closing of trading for the weekend could encourage investors to take further risks off the table – and send them to the safety of the US dollar.
Shiba Inu price is back in a downtrend holding a potential 17% correction

Shiba Inu price is back in a downtrend holding a potential 17% correction

FXStreet News FXStreet News 04.03.2022 16:07
Red flags for Shiba Inu as three bearish strikes are putting SHIB on track for a 17% loss. Markets, in general, are moving into hibernation mode to overcome the rising tensions in Ukraine.Expect the downtrend to continue until the floor is reached at around $0.00002100.Shiba Inu (SHIB) price action is under the scrutiny of bears as bulls have given away their upper hand and are falling over each other to get out of SHIB price action as it tanks for a third consecutive day. With three bearish signals on the technical front and failed peace talks again between Russia and Ukraine, the background looks set for more downturns to come. From the opening price today, SHIB price action is set to correct another 17% before the current intermediary floor is reached for a test of $0.00002100.SHIB price action is going along with global markets and sees safe-haven bids outweigh the upside potentialShiba Inu price action is under siege by bears after a series of bearish coups overtook price action. On Wednesday, the first negative signal came from a false break and bull trap, at $0.00002707 and the monthly pivot. Bulls broke above but got washed out of their positions by bears, pushing price action below the 55-day Simple Moving Average (SMA) at $0.00002600. The SMA in its turn again triggered a rejection at the top side on Thursday with bulls being squeezed out of their positions.The pain for SHIB bulls looks far from over as in early morning trading during the ASIA PAC session, strike three was delivered with a break below the low of yesterday, leading to price action dangling above an abyss of around 17%. The first and only real solid support to the downside is at around $0.00002100, with the green ascending trendline holding five solid tests proving that it is a line in the sand where bulls will engage in full force to uphold price action from falling further. The psychological $0.00002000 should add to the strength of the level, but an eventful weekend could see a further crackdown towards $0.00001883 at the monthly S1 support level.SHIB/USD daily chartAs said in the introductory statement, all this results from the Ukraine situation and global markets further going into safe-haven mode. All it would take are just some flairs of positive news alluding to a solution in Ukraine that would trigger a quick and smooth turnaround back towards $0.00002800. With that move, not only would the red descending trend line at the top side be broken, but as well the 78.6% Fibonacci level would come into play, opening the door for more upside to come.
Silver Price Analysis: XAG/USD consolidates just below $25.50 eyeing breakout to fresh multi-month highs

Silver Price Analysis: XAG/USD consolidates just below $25.50 eyeing breakout to fresh multi-month highs

FXStreet News FXStreet News 03.03.2022 16:07
Silver is consolidating close to multi-month highs not far below $25.50 as markets remain intensely focused on the Ukraine conflict. Technicians have noted that spot silver prices have over the last few days formed an ascending triangle. Upcoming tier one US data releases (ISM Services on Thursday, NFP on Friday) will play second fiddle for geopolitics. Spot silver (XAG/USD) prices are consolidating close to multi-month highs with the $25.50 per troy ounce mark for now acting as resistance, but ongoing nervousness about the ongoing Ukraine conflict and its economic impact underpinning the safe-haven metal for now. At current levels in the $25.30s, spot silver trades broadly flat on the day, with focus for now on talks between Ukrainian and Russian delegations in the hopes that some sort of ceasefire might be in the offing. Given maximalist demands still being made by Russian President Vladimir Putin on Tuesday, demands which the Ukrainian government is very unlikely to accept, hopes that a broad ceasefire agreement can be reached are slim. That suggests no end in sight for the rally in the prices of commodities exported by Russia (oil, gas, various agricultural products and base metals), which will likely keep assets deemed as offering inflation protection in demand (like silver). Technicians have noted that spot silver prices have over the last few days formed an ascending triangle, a pattern that is more often than not indicative of a bullish breakout. Technical buying on a break above the $25.50 could dovetail nicely with the fundamentals if the Ukraine conflict continues to intensify and Western nations are expected to continue tightening the sanctions noose around Russia’s neck. Silver can move aggressively and some bulls likely have their sights set on mid-2021 highs in the $28.00 area. With focus so heavily on geopolitics, upcoming tier one US data releases (ISM Services PMI on Thursday and the official jobs report on Friday) and the second day of Fed Chair Jerome Powell’s testimony before the US Congress will take something of a back seat. Powell explained on Wednesday that current uncertainties regarding the impact of the Ukraine war would not deter the Fed from getting moving regarding removing policy stimulus. An expected strong jobs report on Friday should support this stance and probably won’t dent silver’s near-term appeal much.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Sentiment turns as the U.S. looks to regulate cryptos

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Sentiment turns as the U.S. looks to regulate cryptos

FXStreet News FXStreet News 03.03.2022 16:07
Bitcoin price sees its gains being pared back a bit after more talks on regulatory crackdown out of U.S. on cryptocurrencies. Ethereum price slips further away from $3,018 after Powell's speech before Congress talked about regulating cryptocurrencies. XRP price sideways, awaiting a catalyst to go either way. Cryptocurrencies are facing some headwinds – whilst they have enjoyed more inflows of late as both Ukrainian and Russian inhabitants reverted to cryptocurrencies as an alternative means of payment to avoid sanctions – there are signs this loophole will soon be closed. During Biden's State of the Union speech the president asked for a crackdown on cryptocurrencies to close the escape route for wealthy Russians. FED chair Powell added fuel to the fire by saying that he would welcome further regulation to monitor and control cryptocurrencies better. The result is that these comments have triggered some nervousness in all significant cryptocurrency pairs. Bitcoin bulls are rejected at $44,088 with the risk of sliding back to $42,000 Bitcoin (BTC) price saw a full paring back of the losses accumulated during the Russian invasion as cryptocurrencies saw renewed cash inflow from both Russians and Ukrainians looking for alternative means of payment after both central banks had put in cash withdrawal restrictions. As Bitcoin looked to be poised for another leg higher, both Biden and Powell created some headwinds by urging for more regulatory crackdown, as it is emerging that cryptocurrencies are undermining sanctions on Russia. With this renewed negative attention towards cryptocurrencies, investors are being quick to book profits and, in the process, are pushing BTC price action to the downside. BTC price saw an initial rejection at $45,261, a level which coincides with the low of December 17, and as such triggered some profit-taking. As profit-taking continues bulls are faced with another rejection at $44,088, a level that goes back to August 06. Below that, the search for support finds nothing until $41,756 or the psychological $42,000 level near the baseline of a bearish triangle we had marked up earlier. BTC/USD daily chart As more talks are underway, a breakthrough could still happen at any moment. If that happened, it would mean that bears would fail in their attempt to squeeze out bulls and get stopped out themselves once the price pierced through $44,088 to the upside. That move would even accelerate after shooting through $45,261, with a quick rally to $48,760 and, from there, positioning Bitcoin to pop back above $50,000 next week. Ethereum bulls are defending the 55-day SMA, but support is wearing thin Ethereum (ETH) price takes another step back today after more negative connotations from FED Chair Powell in the house hearing before Congress. Next to committing to more rate hikes, Powell also drilled down on cryptocurrencies and called them a risk that needs to be prioritised with regulations. That puts greater regulation for cryptocurrencies at the top of the congressional agenda – after Ukraine, and inland inflation had pushed that bullet point further down the list. For the moment, ETH sees bulls defending the 55-day Simple Moving Average (SMA) at $2,880. Although it looks good to hold for now, in the past, the 55-day SMA has not built a solid reputation of being well respected. So expect a possible breach once the US session kicks in and Powell makes more negative comments on cryptocurrencies in his second day of congressional hearings, which will likely push ETH price below the 55-day SMA at $2,880, through the monthly pivot at $2,835, and down to a possible endpoint at around $2,695. ETH/USD daily chart As the situation in Russia further deteriorates with more sanctions on the shelf, residents will be forced even more to flee into cryptocurrencies to avoid any repercussions from the financial sanctions imposed. That would mean broad flux inflow throughout the coming days, with ETH price action popping above $3,018, and in the process breaking the double top of rejection from Tuesday and Wednesday. To the upside, that could see $3,391 for a test as the inflow will outweigh any bearish attempts from short sellers. XRP price testing monthly pivot to the downside as dollar strength weighs Ripple's (XRP) price is under pressure to the downside as bears are putting in their effort to break the new monthly pivot at $0.76. Bears are getting help from the other side of the asset pair by the dollar’s strength weighing on price action for a second consecutive day. With Ukraine's current tension and possible retaliation from Russia against the West, safe havens are broadly bid with the Greenback on the front foot and thus outpacing XRP’s valuation, resulting in a move lower. Expect XRP price to see an accelerated move once the monthly pivot at $0.76 gives way. With not much in the way, the road is open to drop to $0.62, with $0.70 and $0.68 as possible breaking off points where bears could see some profit-taking and attempts by bulls to halt the downturn. But the trifecta of the negative comments from both Biden and Powell joined with the safe-haven bid is too big of a force to withstand, making $0.62 almost inevitable in the coming hours or trading days. XRP/USD daily chart The only event that could turn this around is if a catalyst were to remove the safe-haven bid. That could come with a resolution of the current tension in Ukraine or surrender of the Russian army of some sort. In such an outcome, the safe-haven bid would evaporate, followed by a massive risk-on flow which would see XRP pop above $0.78 and rally to $0.88, taking out $0.84 along the way to the upside.
Shiba Inu price provides opportunity to accumulate before SHIB rallies 20%

Shiba Inu price provides opportunity to accumulate before SHIB rallies 20%

FXStreet News FXStreet News 02.03.2022 16:19
Shiba Inu price faced rejection around the weekly resistance level at $0.0000283 and is undergoing retracement. The ongoing pullback will likely lead to a triple bottom setup at $0.0000233, with a potential to trigger a 20% rally to $0.0000283. A four-hour candlestick close below $0.0000233 will create a lower low and invalidate the bullish thesis for SHIB. Shiba Inu price has struggled to maintain the bullishness witnessed between February 6 and 8. This lack of commitment has led SHIB to go astray and revisit lower levels. Despite the recent bullishness in the crypto market, the meme coin has rallied conservatively. Shiba Inu price shows promise Shiba Inu price briefly consolidated below the $0.0000233 barrier before exploding 56%. The resulting downswing knocked the meme coin below $0.0000233, which recovered quickly. Since then, SHIB has rallied 24% and faced rejection at the hands of a weekly resistance barrier at $0.0000283. The rejection here has the potential to undo recent gains and drag the Dogecoin-killer back to the $0.0000233 support level. If this outlook plays out, it will create a triple bottom setup, which forecasts a trend reversal; in this case, an uptrend. The said technical formation could trigger a 20% ascent to $0.0000283. In a highly bullish case, Shiba Inu price could make a move to $0.0000323, bringing the total gain to 40%. SHIB/USDT 4-hour chart While things are looking favorable for a quick bullish trade, Shiba Inu price needs to hold above the $0.0000233 support floor. A four-hour candlestick close below the said barrier will create a lower low and invalidate the bullish thesis for SHIB. In this case, Shiba Inu price could slide lower and collect liquidity resting below the $0.0000202 support level. This development will be another catalyzing event for a bullish outlook.
Technical Analysis: Moving Averages - Did You Know This Tool?

Apple Stock News and Forecast: AAPL remains subject to geopolitical whims

FXStreet News FXStreet News 02.03.2022 16:19
Apple stock remains above its 200-day moving average as geopolitical turmoil remains. AAPL stock is unlikely to break higher until the Russia-Ukraine conflict ends. Apple is likely to fall further as no catalyst in sight and sanctions hurt all global businesses. Apple (AAPL) stock remains in recovery mode along with most US indices as last week's shock and awe sell-off remain the low mark for now. Stocks have entered a changed landscape for 2022, and the situation is worsening from both a macroeconomic and geopolitical viewpoint. Investors were just about coming to accept the inflation and interest rate environment for 2022 and had adjusted portfolios accordingly. High-risk growth stocks were avoided, and the focus returned to those stocks with strong balance sheets and low valuations. Value versus growth had already seen strong outperformance for value. Now things are worse. Sanctions will hit global growth and Europe especially hard. Energy costs are out of control, European gas prices are nearly ten times higher than a year ago. Oil prices we know all about. What we are left with then is higher inflation and now for longer likely reaching into 2024. Interest rates will have to rise, despite slowing growth, leading to stagflation. High-risk assets will struggle. Equities are viewed as a high-risk asset so expect bond inflows to outweigh equity fund inflows for the remainder of this crisis and beyond. Likely sector winners in the short term are defense stocks and oil stocks should have earnings well underpinned now for the remainder of the year. Apple (AAPL) stock is a harder one to quantify in this new environment. The stock certainly has defensive qualities, it has piles of cash which it can use for dividends, buybacks, or acquisitions. It has some pricing power that it can pass on to customers. However, rising commodity prices lead to higher semiconductor prices. Higher energy costs lead to higher shipping costs for inputs and outputs. Rising inflation and possible slowing growth will lead customers to scale back on purchases of luxury goods. Sanctions will hit globalized businesses. Apple Stock News With perfect timing, the EU has just come out and said EU countries must turn off the stimulus tap sharply and take a neutral fiscal stance. This means less free money and a focus on debt reduction, as well as echoes of the dreaded tight monetary policy that prevailed after the Great Financial Crash. This will mean less consumer spending. Apple Stock Forecast We cannot avoid the overall bearish macro and geopolitical background. We would rate Apple as outperforming, but that is an outperform in a bearish market. We note the potential and hope for a swift end to the conflict as Russia and Ukraine meet again for talks. This will lead to a sharp relief rally, so short-term traders take note. The risk-reward is probably skewed to the upside. Wednesday is likely to see a slow gradual move lower or a swift rally on positive developments. Longer-term though the situation is clouded. Unless the conflict ends soon and sanctions are lifted quickly, we fail to see how equities can return to any form of bullishness. The situation from one month ago has not changed apart from lower economic growth. For now, Apple has found support at the 200-day moving average, which is set at $152 today. This is massive support. Break that and it is likely onto $138. The Relative Strength Index (RSI) and Moving Average Convergence Divergernce (MACD) remain bearish, confirming the price move. Apple stock chart, daily
WTI surges above $101/barrel, eyes 2014 highs in $107s amid growing Russia supply disruption fears

WTI surges above $101/barrel, eyes 2014 highs in $107s amid growing Russia supply disruption fears

FXStreet News FXStreet News 01.03.2022 16:01
WTI has surged above $101 to hit its highest in over seven years, with analysts eyeing the 2014 highs near $107.50. The rally is being driven by concerns of supply disruptions as Western sanctions against Russia start to bite. For now, this has outweighed chatter about coordinated oil reserve releases. Oil prices have surged this Tuesday as concerns grow about supply disruptions as Western sanctions against Russia, who are currently in the process of invading Ukraine, start to bite, outweighing chatter about coordinated oil reserve releases. Front-month WTI futures have surged to their highest levels since July 2014 above $101 per barrel, with the bulls eyeing a test of the next key area of resistance in the $107.50 area, which marks the 2014 highs. That translates into on-the-day gains of more than $5.0 and takes WTI’s two-day rally to over $9.0. A senior analyst at Rystad Energy wrote that “the fragile situation in Ukraine and financial and energy sanctions against Russia will keep the energy crisis stoked and oil well above $100 per barrel in the near-term and even higher if the conflict escalates further”. The US and EU have not imposed direct sanctions on Russian energy companies or on energy exports, but various reports in financial press point to growing difficulties in conducting trade of these goods. Banks have been pulling financing and shipping costs have surged, while major Western-based energy companies are looking to exit their stakes in Russian operations. Russia exports between 4-5M barrels of crude oil per day, plus a further 2-3M barrels of refined products each day, making the country one of the world’s most important energy exports. Major US banks including Goldman Sachs, Morgan Stanley, and JP Morgan have all upped their oil forecasts to reflect concerns about supply disruptions, with some analysts warning of oil hitting $150. Press reports suggest that a coordinated crude oil reserve release by the US and its allies could amount to between 60-70M barrels and such a move is currently under discussion at an extraordinary ministerial meeting of the Internation Energy Agency. Confirmation that nations agreed on the release might trigger some profit-taking in crude oil later in the session, analysts suggested, but shouldn’t shift the underlying bullish dynamic. With fresh sources suggesting OPEC+ is going to stick to its current output policy of increasing quotas by 400K barrels per day/month in April, despite the Russian invasion of Ukraine, hopes of near-term supply relief from OPEC+ remain non-existent.
Rivian Automotive Stock News and Forecast: RIVN has more room for downside

Rivian Automotive Stock News and Forecast: RIVN has more room for downside

FXStreet News FXStreet News 01.03.2022 16:01
Rivian stock surged over 6% on Monday as EV stocks looked to Lucid as savior. Nasdaq: RIVN will collapse on Tuesday as reality sets in. Rivian shares still look way too high in our view. Time for a continued dose of reality for EV investors as the market continues to gyrate nervously on geopolitical events. This is not the time to be dabbling in high-growth names with little to no profits. The geopolitical backdrop is challenging with various headlines emanating from the Russia-Ukraine crisis daily. However, no clear path out of conflict currently appears evident. All this has ramped up the negative macroeconomic backdrop for equities. We entered 2022 knowing that central banks were going to struggle with inflation, and data in January confirmed this. We assumed robust economic growth in the major economies would allow the main central banks to raise rates without causing a recession. Bets on rate rises soared and global yields moved up sharply in the first two months of 2022. This hit growth stocks hard in early 2022. Now though the Russia-Ukraine situation has given inflation a further boost but raised the possibility of a recession in Europe and also the US. The huge bull run in equities seen since the 1990s has been helped to a large extent by the huge boost from globalization. This resulted in lower costs and huge new markets from many companies. Global trade increased markedly. Already we have seen efforts to reduce globalization from Trump tariffs to Brexit and now to worldwide sanctions. This is making equity investing more difficult and more specific. All this means growth stocks, the darling sector of 2021, are likely to suffer as 2022 progresses. Rivian as we know is a poster child of high growth stocks. It IPO'd in November in a blaze of publicity and quickly become one of the largest automakers in the world by market cap despite not having much of any production. Rivian Stock News Rivian (RIVN) stock reports its earnings next week on March 10 but peer Lucid (LCID) released its earnings after the close on Monday. These earnings were frankly terrible, missing on EPS and revenue while also slashing 2022 production numbers only two months into the year. As result, Lucid stocks have fallen sharply and are likely to fall more as the week progresses. Rivian and other EV names will get dragged lower as a result. For some reason, optimism was abounding yesterday as EV stocks rallied. Lucid closed up nearly 10% so the risk-reward was always skewed to the downside. We could see a fall of 20% today for Lucid if momentum picks up. Rivian will not be able to avoid contagion effects and will also likely suffer heavy losses on Tuesday. Rivian Stock Forecast Keep an eye on the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) here. Both are in an uptrend but will likely correct today. This could be the signal for more losses. The rally in the RSI failed to even get above 50, showing how weak Rivian stock's momentum is. Only if Rivian breaks $71 do we see any chance, but the risk-reward is firm to the downside. Any positive news regarding Russia and Ukraine would see a violent reaction, but this is likely to be short-lived. The macro environment is getting even more challenging as mentioned. Rivian stock chart, daily
What's The Future Of Bitcoin (BTC) Price In Times Of Sanctions?

What's The Future Of Bitcoin (BTC) Price In Times Of Sanctions?

FXStreet News FXStreet News 28.02.2022 16:02
Bitcoin price is behaving very well this stormy Monday morning as global markets are under pressure from sanctions against Russia. BTC sees elevated interest as people in Russia dive into Bitcoin as an alternative method of payment. Expect this interest to add to more popularity for Bitcoin as long as the current sanctions are imposed on Russia and its ruble. Bitcoin (BTC) is holding it together all-in-all quite well as price action dipped lower over the weekend but is back up for the day as Bitcoin sees an uptick in demand at the start of the week. That demand comes from Russian people using Bitcoin as an alternative method of payment as the local currency has devalued considerably, and several sanctions are making it impossible to use FX alternatives. With this renewed interest, expect to see BTC price action rise towards $39,780, holding a 10% profit potential. Bitcoin regains the needed attention it deserves Over the weekend, price action got rejected to the downside and saw a 7% devaluation. Yet with the introduction of several sanctions onRussia, significant demand is being seen for Bitcoin as Russians seek alternative payment methods as their own currency has devalued sharply by 20% on Monday morning, and foreign currencies are forbidden as a form of payment. This is the perfect background for Bitcoin and other major cryptocurrencies to get renewed positive attention. Several Russians will be opening a crypto wallet and buying into Bitcoin price action, which could propel price action towards $39,780 in the first phase.once Bitcoin becomes the standard form of payment in Russia, and as the Relative Strength Index still has plenty of room to go, expect to see a further move to the upside, hitting $41,756 in the near term. BTC/USD daily chart Depending on the current peace talks underway this afternoon between Russia and Ukraine, expect to see a possible dip back towards $38,073 or even $36,709 as the supportive baseline in these past few days. Should the situation deteriorate again and see renewed attacks – and even the use of Russian nuclear weapons – expect to see a sharp nosedive move towards $32,650, nearing the distribution zone from a few months ago. With that move, the Relative Strength Index will have entered the oversold area, however, suggesting an increased likelihood of an eventual recovery.
NASDAQ 100 (QQQ) Stock News and Forecast: Worries over Ukraine-Russia war dim index prospects

NASDAQ 100 (QQQ) Stock News and Forecast: Worries over Ukraine-Russia war dim index prospects

FXStreet News FXStreet News 28.02.2022 16:02
NASDAQ 100 is set to open sharply lower on Monday. Russia placing nuclear forces on high alert spooked markets. European gas prices continue to surge as stagflation beckons. Global financial markets remain on edge this morning as the Russia-Ukraine conflict looks to be in danger of spilling into a global threat. Over the weekend Russia placed its nuclear deterrent forces on high alert, while Germany pledged increased defense spending. Now further developments include Russia talking of placing nuclear missiles in Belarus and an apparent escalation of the rhetoric between global superpowers. Western governments have gone for tougher sanctions than many observers anticipated with the Russian Central Bank reserves being targetted as well as the global banking payment system SWIFT being closed to Russian banks. Russian ally Belarus held a referendum this morning that ditched its non-nuclear stance, paving the way for Russian nuclear missiles to be deployed there. NASDAQ 100 (QQQ) Stock News All this has naturally seen risk assets collapse. European equity markets fell sharply this morning. At one stage the German Dax was down nearly 3% but has staged a slight recovery to lose 2.4% currently. However the European benchmark, the Eurostoxx 50, is down over 3.5% at the time of writing. Yields continue to fall as money flows into safe-haven assets. Gold and the dollar have naturally profited. The odds on rate hikes from the European Central Bank and the Federal Reserve have diminished as the threat of recession grows. Europe has the most to lose due to its dependence on Russian gas supplies. European natural gas futures (TTF) rose over 50% on Friday and have followed that up with a 12% gain on Monday. There is likely more to come here. NASDAQ 100 (QQQ) Stock Forecast We do have a bearish divergence on the Relative Strength Index (RSI). The RSI has not made matching new lows despite the NASDAQ 100 doing so. Usually, this is significant, but the RSI does remain in a strong downtrend in line with the NASDAQ. Thursday and Friday's rally was impressive, but even that failed to break the 9 and 21-day moving averages. Demonstrating this downtrend is powerful. The obvious target is a break of 4,300 and a test of the significant lows from March 2021 at $299.51. Nasdaq (QQQ) chart, daily For short-term traders, opening below $348 indicates we are on a bearish track and preparing for further declines. Last support at $338 could see a sharp decline to $328 based on the volume gap. Nasdaq (QQQ) chart, 15-minute
Tesla Stock Price and Forecast: TSLA continues Thursday rebound, adds 2% in premarket

Tesla Stock Price and Forecast: TSLA continues Thursday rebound, adds 2% in premarket

FXStreet News FXStreet News 25.02.2022 16:18
Tesla bounces strongly on Thursday as markets decide to ignore Ukraine. TSLA stock gains 4.8% on general market bounce back. Shares are up more than 2% in Friday's premarket. Tesla (TSLA) shares bounced strongly on Thursday after dropping off a cliff due to Russia's invasion of Ukraine, Tesla is now charging higher in Friday's premarket. TSLA stock bottomed out at $700 after opening just above it on Thursday, before spending the entire session climbing back to $800. The stock closed at $800.77, a surprising 4.8% above Wednesday. It is now up 2% in the premarket near $820. Tesla Stock News: Odd trades The latest news is a family affair. Trades made by CEO Elon Musk and his brother Kimble, who sits on Tesla's board, are being scrutinized by the Securites & Exchange Commission (SEC). The Wall Street Journal reports that Kimble sold $108 million worth of shares just one day before his brother Elon posted his infamous Twitter poll asking if he should sell 10% of his Tesla stake. Once the poll was answered strongly in the affirmative, Elon began selling. This caused an approximate 25% sell-off in the share price over the following month. Daiwa Securities Group, Japan's second-biggest investment bank, plastered an outperform rating on the stock due to what it said makes the company more attractive due to the Ukraine-Russia affair. The Japanese bank gave TSLA a $900 price target, writing that "higher oil prices and potential scenario of fuel shortages, especially in Europe, could accelerate the shift to EVs. While the start of production at the Berlin plant could be delayed, recent media reports of Tesla increasing capacity at its Shanghai facility gives it more flexibility to meet European demand." The bank also pointed to the company raising output at its Shanghai plant to 1 million units per year and increasing production to 500,000 units at its Austin plant. Currently, the Shanghai factory can produce about 450,000 units a year. One reason why increasing Shanghai output is key is that gross profit margins run at about 40% there, whereas the automaker's original factory in Fremont, California, has gross profit margins closer to 20%. Last but not least, Tesla has lost its Director of Engineering, Brian Dow, to Generac Holdings (GNRC), a maker of energy storage systems and batteries. Tesla Stock Forecast: Ukraine invasion provides $700 as support One benefit of the rollercoaster ride that hit markets on Thursday is that shareholders now know where long-term support sits. Ahem, it is $700. There must have been enough automatic buying there to spur the price higher since shares were pushed up steadily to $765 by midday. The $700 mark is, however, right in line with a descending bottom side trend line in place since November 10. The region around $945 is still the target to break back into bullish territory. This $945 mark has served as both support and resistance over the past four months going back to October. Before that, however, TSLA shares must close back above the 200-day moving average, which is now at $832.61. It broke through this moving average on Tuesday and may signal there is more downside ahead. TSLA 1-day chart
Polkadot (DOT) Explained - A Pinch Of Origins And History

Polkadot price to revisit $22 as DOT establishes a launchpad

FXStreet News FXStreet News 25.02.2022 16:18
Polkadot price retests the three-day demand zone, extending from $10.37 to $15.66, anticipating a bounce. A quick run-up would allow DOT to retest two hurdles - $15.97 and $22.23. A decisive close below $10.37 will invalidate the bullish thesis. Polkadot price has arrived at a stable support level after crashing violently and falling since November 2021. A retest of this level is likely to result in a swift bounce that triggers a quick uptrend. Polkadot price contemplates reversal Polkadot price has crashed 73% from its all-time high at $53.50 on November 9, 2021. This downswing has now arrived at the three-day demand zone, extending from $10.37 to $15.66. Investors can expect a quick relief rally to emerge as DOT bounces off this barrier. The altcoin will face the $18.01 hurdle after rallying roughly 12% from its opening price. Clearing this blockade is crucial to making a run for the $20 psychological level. There may be an outcome where DOT could set a local top here. However, if bulls band together, there could be an extension of the uptrend to $22.23. This move would constitute a 40% ascent from the current position - $16 and is likely where the local top will form for Polkadot price. DOT/USDT 3-day chart On the other hand, if Polkadot price fails to bounce off the $10.37 to $15.66 demand zone, it will explore lower levels. As long as DOT stays inside this area, the bullish outlook will not face any threats. A daily or a three-day candlestick close below $10.37, however, will invalidate the possibility of a bullish outlook and indicate that Polkadot price is likely to retest $10.09 or the subsequent barrier at $8.31.
Russian Invasion: Ukraine's government could collapse sooner, markets would see relief rally

Russian Invasion: Ukraine's government could collapse sooner, markets would see relief rally

FXStreet News FXStreet News 24.02.2022 16:16
Russia is attacking Ukraine on multiple fronts, including in Kyiv. A collapse of the Ukrainian government could allow Putin to order a retreat. The West's sanctions may keep oil prices bid, but markets could recover from the current downfall.The Russian army is accelerating its offense in Ukraine – and undoubtedly moving faster than Western diplomats, scrambling to agree on sanctions. Markets have woken up to a dark day of war and have reacted rapidly. However, a quick end to major hostilities could trigger a relief rally. At least a partial one.Reports from Kyiv show various plumes of smoke from inside and outside the city and Russian helicopters coming from Belarus. The conflict is far more than a "peacekeeping mission" in Ukraine's east.Events are moving fast and there is massive disinformation at times of war. Ukraine declared martial law and seems determined to fight back and halt the advance of Russian troops – but it could be beyond them. Some 190,000 troops – some rebels and mostly Russians – are on the move, attacking Ukraine on various fronts. Russian President Vladimir Putin's aim is to bring about the collapse of the government in Kyiv, which leans toward NATO and the EU. Overwhelmed by Russian firepower, cyberattacks, and propaganda, leaders in Ukraine could capitulate – at least to prevent further bloodshed. If Putin manages to defenestrate the Ukrainian government and install his puppets, he could announce "Mission Accomplished" and move some of the troops back home. While a long-term insurgency would follow, the world could move away from focusing on the conflict. If sanctions remain tame and threats on NATO countries subside, there could be a relief rally. Stocks and risk currencies would have room to rise, while gold – which has benefited from speculation and exuberance – would fall. The safe-haven yen, which is more sensitive to geopolitics than to other worries, would retreat. Oil would depend on European sanctions – would the West disconnect from Russia? In that case, petrol prices would surge. However, if energy is excluded, there is room for a gradual decline.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Investors fleeing cryptocurrencies as residents flee Kyiv

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Investors fleeing cryptocurrencies as residents flee Kyiv

FXStreet News FXStreet News 24.02.2022 16:16
Bitcoin price drops 7% on geopolitical news but is close to offering a nice entry-level. Ethereum price deteriorates 10% for the day and still has 7% to go before some solid support is present. XRP price sees early price bounce-off but might be too soon as better entry levels are present further down the line. Cryptocurrencies are waking up to a shocker this morning as the whole Eastern border of Ukraine is under siege of missile attacks by Russia and Belarus. This afternoon, NATO and the EU are scrambling for emergency meetings to further retaliate with sanctions cutting off Russia entirely from the financial system. In the meantime, investors are hoarding cash and pulling out their money into safe havens, but in the process, offering some lovely entry levels for the longer term. Bitcoin price breaks below $36,709 and looks to test support at $32,650, below $33,000 The Bitcoin (BTC) price got slaughtered this morning as the Russian offensive started in early trading hours, shedding 7% of its market value. As it is looking for support, it will be vital for market participants to await the right time to execute any trades. It is too late now for both bears and bulls to get in as markets will or could go either way, and both parties are better off waiting for the right entry-level. BTC price will favour bulls with an entry below the $34,000 key-level as above, for now, no actual entry points are offered. At $32,650, a solid entry-level is offered, going back to June 25. With this, BTC price would need to shed another 5% on top of the 7% it has already lost in early morning trading. Expect this to unfold once the US sessions kicks in and further deterioration of asset prices happens across the board. BTC/USD daily chart Should Putin step up military action, expect to see further deterioration of price action in several asset classes, certainly when civilian casualties are reported. Expect $32,650 to be breached and see BTC further deepen its losses towards $31,322. Following that, the famous distribution zone will have been entered, and short-term bulls and long-term investors will be buying up bits and pieces of the price action for a rebound once the situation stabilises. Ethereum bulls should open up their wallets as price action is set to offer some great entry points Ethereum (ETH) price is nearing some interesting levels as price action dips to the downside in an accelerated move as Russian troops are attacking several important cities in Ukraine. Whilst Europe tries to deal with the situation, more reports have come in of several critical Ukrainian military installations being fired upon by missiles and mortars. Putin proclaimed conducting a military surgical operation to demilitarise the country and succeed. ETH price gets under pressure as investors hoard cash and kick out any risky asset in the process, as Ethereum already lost 10% in early morning trading. Expect more downside to come towards $2,148, losing 18% of its value in the process. At the same time, this is an excellent window of opportunity for investors to buy ETH coins at a very lucrative discount once the situation stabilises. ETH/USD daily chart As this story develops further into the trading day, expect to see a deterioration of ETH price action towards $1,928 or even $1,688 – breaching $2,000, should more reports come in from Russian troops entering mainland Ukraine and taking over control of key cities. That would mean that ETH is set to lose another 17% to 25% in the process as the US session will be expected to deepen the loss intraday. In the meantime, Ethereum price action has entered a distribution zone, offering an excellent opportunity for investors to start building a stake in for any upside potential to come. XRP price is at risk of losing another 25% as first support is being tested Ripple's (XRP) price sees an initial bounce off the $0.6264 level this morning as Europe awakes to some severe military threats spilling over into global markets with risk assets being slashed across the board. XRP price action already shredded 10% at the time of writing and is seen bouncing off technically and recovering back to more moderate levels – but still holding heavy losses. As the situation further develops, expect cryptocurrencies to react instantly in both directions as more headlines and news hit the wires today. Expect $0.6264 not to withstand further selling pressure since the situation remains fragile. As possible combat headlines start to accelerate, expect to see another dip lower in XRP to $0.5852 or even $0.5231, adding another 6% to 16% of losses to the price action. With this, the Relative Strength Index will be diving deeply into oversold territory, making this area an excellent entry level for investors going long once the situation dies down and the market falls back to a more normal level. XRP/USD daily chart In the worst case, XRP could dip below $0.50 and tick $0.48 in the process, the lowest level since June 2021. Depending on the situation expect to see bulls either waiting and holding, or taking the bounce off the historic $0.48 level and the monthly S1 support level, which they may use as a point of entry for going long if the situation calms down in the near future.
WTI calmer on Wednesday near $92.00 as traders monitor Ukraine crisis, US/Iran nuclear negotiations

WTI calmer on Wednesday near $92.00 as traders monitor Ukraine crisis, US/Iran nuclear negotiations

FXStreet News FXStreet News 23.02.2022 16:05
WTI is trading more calmly on Wednesday and is currently roughly flat in the $92.00 area awaiting fresh geopolitical developments. As geopolitical risk premia remains elevated, oil is likely to remain a buy on dips. A possible US/Iran nuclear deal, which would free up 1.3M BPD in exports, is a downside risk traders should note. After Tuesday’s choppy session which saw front-month WTI futures print fresh seven-year highs at $96.00 per barrel before swinging lower again, oil markets are experiencing calmer conditions on Wednesday. WTI is currently trading towards the top of mid-$90 to mid-$92.00 intra-day ranges near the $92.00 mark, where it is broadly flat on the day. Wednesday’s roughly $2.0 intra-day range compares to Tuesday’s intra-day range of more than $5.50. Crude oil markets are continuing to monitor developments regarding the Ukraine crisis as fears about a full-scale Russian invasion of Ukraine remain elevated and Western nations hit Russia with sanctions over its recognition of the independence of breakaway Ukrainian regions. These sanctions have so far been focused on targeting Russian banks and wealthy individuals, with US President Joe Biden on Tuesday making it clear that the US wasn’t yet to target Russian commodity exports. The geopolitical impetus for WTI to push above $96.00 and on towards $100, thus, is not yet there. But US officials have signalled that if Russia takes further aggressive action against Ukraine all options for further sanctions are on the table and this is a key risk oil traders will be monitoring in the coming days. “The prospect of more conflict in Ukraine should safeguard the geopolitical risk premium,” said one commodity analyst, whilst another warned that “There is a risk that Russia will retaliate to the sanctions by reducing deliveries of its own accord”. Thus, for now, it seems likely that dips back towards $90.00 will continue to be bought, as has been the case over the past two or so weeks. Eyes will be on a meeting of the UN General Assembly on Ukraine later in the day, which should generate fresh geopolitical headlines, as well as US weekly oil inventory data from the American Petroleum Institute at 2130GMT. Another theme at the top of oil traders’ minds is the prospect of a US/Iran nuclear deal. A deal would pave the way for the US to lift sanctions on Iranian crude oil exports. According to ING, this would ease concerns over OPEC+ spare capacity (or lack thereof). The bank said “Iran is currently producing at around 2.5mln BPD but is estimated to have a capacity of closer to 3.8mln BPD, therefore, over time there is the potential for 1.3mln BPD of additional supply to come onto the market”. “Nuclear talks in Vienna are reaching a sensitive and important point” said Iran's foreign minister on Wednesday.
Digital World Acquisition Corp Stock News and Forecast: Premarket more bullish on DWAC than regular session

Digital World Acquisition Corp Stock News and Forecast: Premarket more bullish on DWAC than regular session

FXStreet News FXStreet News 23.02.2022 16:05
DWAC stock spiked 28% in Tuesday's premarket after TRUTH Social began accepting users.Tuesday's regular session, however, saw DWAC jump only half as high.Digital World Acquisition Corp's share count is expected to more than quadruple one month after merger closes.Digital World Acquisition Corp (DWAC) stock could not compete in Tuesday's regular session with its performance in the premarket. DWAC shares exploded 28% to $108 before the markets opened on Tuesday. Once the public session got under way, however, DWAC could not even break $100. The Special Purpose Acquisition Vehicle (SPAC) slated to take former President Donald Trump's Trump Media & Technology Group (TMTG) public in the next month still closed up 10.2% to $92.90 on a day when most equities sold off due to tensions on the Ukraine-Russia front.Donald Trump's social media startup, TRUTH Social, began allowing app downloads on Apple devices on Sunday, February 20, which caused the price to spike on Tuesday when markets opened after the Presidents' Day holiday.Digital World Acquisition Corp Stock News: 172K waitlistedOn Tuesday, Newsweek reported that more than 172,000 accounts had been waitlisted, and other sources said many of those seeking to gain access had received error messages. Research firm Apptopia estimated there were 170,000 downloads on Monday in the US. The app was the top free download in Apple's App Store on Monday.This was good news for the most part since trouble accessing a new app due to popularity is normally a sign that it is a hit. Traders, however, began taking profits almost immediately when DWAC shares popped to $99 at the open.A steady drip of new download figures should buoy the stock in the coming days as the company has said it may take 10 days to onboard all the early adopters. The only major worry going forward is the coming share count increase. Thirty days after the merger is completed, separate shares owned by insiders, underwriters, and private investors who invested in the SPAC's separate PIPE deal (Private Investment in Public Equity) will be allowed to trade. This means that the current 37 million-odd shares will grow overnight to more than 170 million. Though this is not a standard dilution event, the increase may put downward pressure on the share price.Additionally, another 40 million "earnout" shares might be earned by company insiders and owners if the share price remains above $15, $20 or $30 a share on average in the month after the merger. Then there are the 15 million warrants that could get exercised in September 2022. By the end of the year, there could be 225 million total shares. Digital World Acquisition Corp Stock Forecast: Two top trend linesAfter opening on Tuesday at $99, the stock immediately sold down to $85.67 before rebounding throughout the rest of the day. Twice during Tuesday's session, DWAC faced resistance near $96.DWAC is trading within an ascending price channel, which gives the market confidence to hold out for higher prices. Traders should note that there are two separate possible top trend lines available to them. The first one (yellow) is the more recent trend that began on January 24. It is much steeper and takes a trajectory aimed at the 161.8% Fibonacci level at $134.90. The other (blue) began back on December 8 and takes a more conservative and gradual aim at the $120 level, which was significant during the first rally in price action back during late October.The swing highs from January 19, February 7 and 22 are all slightly higher than one another, demonstrating that and uptrend is definitely motion no matter which top trend line is preferred. Support sits at $78, $60 and $38. DWAC 1-day chart
Explained: When bonds and stocks trade in tandem and when the correlation is inverse

Explained: When bonds and stocks trade in tandem and when the correlation is inverse

FXStreet News FXStreet News 22.02.2022 15:58
In times of trouble, bonds are seen as a safe haven and yields fall with stocks.Normally, lower yields boost stocks, an inverse correlation.Understanding the situation is key to trading markets. Could you explain to me the relationship between the movement of 10-year US government bonds and US stock indices? This is a question we have received from a user and the answer is complicated – it depends on the current market focus.Markets are currently in times of trouble, with Russia and Ukraine apparently on the brink of war. Every negative headline prompts investors to sell stocks and buy bonds – moving yields down. So, yields and shares move in tandem. One example is the announcement by Russian President Vladimir Putin about the recognition of the breakaway Donetsk and Luhansk regions. Every optimistic headline sends money to stocks and away from Treasuries, pushing yields up, alongside equities. Examples include announcements of high or top-level meetings trying to resolve the situation. Headline-driven markets tend to experience this straightforward correlation between yields and stocks.However, the correlation is inverse when fear of war does not grip markets. In such situations, investors focus on the Federal Reserve. If they think there is a higher chance of more rate hikes, they sell both stocks and bonds – with yields rising to reflect expectations of elevated borrowing costs. Statements about the need for a 50 bps rate hike or strong economic data are examples of such behavior. When some Fed official says the path of rate hikes is slower, investors are happy to push yields lower by buying bonds and they also purchase stocks, which have a bigger advantage when the comparative safe investment in Treasuries results in a lower yield. A comment by a Fed official about settling for a standard 25 bps rate hike triggers such a reaction. Normal markets tend to experience an inverse correlation between bonds and stocks.
Gold Price Analysis: XAU/USD underpinned above $1900 as Russia/Ukraine crisis escalates

Gold Price Analysis: XAU/USD underpinned above $1900 as Russia/Ukraine crisis escalates

FXStreet News FXStreet News 22.02.2022 15:58
After hitting fresh multi-month highs at $1914, spot gold is consolidating above $1900 as the Russia/Ukraine crisis escalates.As traders worry about the rising risk of a full-scale Russian military incursion into Ukraine, gold will likely remain supported.As the Russia/Ukraine crisis continues to escalate, most recently with Russia recognising the independence of and moving troops into two separatist regions in eastern Ukraine, prompting NATO nations to announce/prepare new sanctions on Russia, gold has moved back above $1900. Spot prices (XAU/USD) hit fresh multi-month highs at $1914 on Tuesday and, though pulling back from these highs printed during Asia pacific trade as dip-buying facilitating an intra-day rebound in global equities markets, has remained above the key $1900 level.With market participants nervous that Russia/pro-Russia separatists in Eastern Ukraine could initiate further hostilities against Ukraine, thus further escalating the risk of an all-out Ukraine/Russia conflict, gold is likely to remain well underpinned this week. Brent oil spiked to close to $100 per barrel on Tuesday and EU natural gas prices were up sharply as Germany pledged not to approve the Nord Stream 2 pipeline that would bring gas directly to Germany from Russia. The upside risks posed to global inflation from any continued spike in energy prices as a result of further Russia/Ukraine crisis escalation is likely boosting demand for gold as an inflation hedge.Recent Fed speak and US data releases have not had much of an impact on gold in recent days as price action takes its cue from geopolitics. Hawkish commentary from Fed’s Michelle Bowman on Monday, who essentially said she was still undecided as the whether the Fed should hike rates by 25 or 50bps in March, was roundly shrugged off. That suggests that other Fed speak this week is also likely to be ignored, or, at least, play second fiddle, with this also likely the case for Friday’s January US Core PCE inflation data. Ahead of that, traders should keep an eye on upcoming US PMI and CB Consumer Confidence surveys, both the flash readings for February.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Altcoins unpause rally as BTC bounces

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Altcoins unpause rally as BTC bounces

FXStreet News FXStreet News 21.02.2022 16:08
Bitcoin price is likely to retest $42,748 after bouncing off the $36,398 to $38,895 demand zone. Ethereum price follows BTC and eyes the retest of $3,200. Ripple price kick-starts another consolidation, foreshadowing an explosive breakout to $1. Bitcoin price has retraced after failing to make it over a crucial hurdle. The downtrend was cut short, though, due to the presence of a demand zone. A bounce off this zone is likely to provide Ethereum, Ripple and other altcoin traders a brief opportunity to go long. Bitcoin price to attempt a relief rally Bitcoin price faced intense rejection as it approached the weekly supply zone extending from $45,550 to $51,860. This encounter resulted in a 17% drop to a daily demand zone, extending from $36,398 to $38,895. A retest of this support area is crucial as it will allow Bitcoin price a chance to retry, invalidating the weekly hurdle. From a conservative standpoint, this relief rally is capped at $45,550. In some cases, the uptrend could preemptively stop at $42,748. BTC/USD 1-day chart If Bitcoin price produces a daily candlestick close below $34,752, it will invalidate the bullish thesis and suggest the possibility of further descent. In this case, BTC could slide lower and retest $29,100, collecting the liquidity resting below it. Ethereum price barely survives Ethereum price is in the same boat as BTC as it was rejected by a daily supply zone, extending from $3,188 to $3,393. The resulting correction pushed ETH to an immediate support area, ranging from $2,608 to $2,812. Ethereum price came close to breaching this barrier but managed not to invalidate it. Going forward, ETH will continue to follow BTC’s footsteps and attempt a relief rally. The upside for the smart contract token is capped at the 50-day Simple Moving Average (SMA) at $2,973 or the lower limit of the supply zone at $3,188. A daily close above $3,393 will forecast a possible retest for Ethereum price at the $3,600 level. ETH/USD 1-day chart The breaking point for Ethereum would come with a daily close below the $2,324; this development could crash ETH price to $1,730 to collect liquidity resting below. Ethereum continues to face massive resistance cluster near $3,300, ETH consolidation likely Ripple price coils up again Ripple price has been consolidating since February 12 and is primed for another explosive breakout. An upside move seems likely considering the recent bullish outlook for bellwether influencer BTC. Market makers are likely to push the XRP price to retest the $1 and collect the liquidity resting above it. However, if the bullish momentum flags, the remittance token could produce a local top below at $0.855. XRP/USD 12-hour chart A twelve-hour candlestick close beneath the $0.746 support level will indicate a bearish breakout is underway. This will invalidate the bullish thesis and likely see Ripple price knocked down to $0.679, thereby filling the fair value gap. XRP develops bullish continuation pattern before breakout to $1
Gold Price Analysis: XAU/USD falls back under $1,900 after setting fresh multi-month highs near-$1,910

Gold Price Analysis: XAU/USD falls back under $1,900 after setting fresh multi-month highs near-$1,910

FXStreet News FXStreet News 21.02.2022 16:08
Gold hit fresh multi-month highs near the $1,910 on Monday but has since dropped back under the $1,900 handle. Geopolitics remains the wildcard that could stoke surprise volatility in either a bullish or bearish direction. Spot gold (XAU/USD) prices hit fresh multi-month highs near $1,910 on Monday during Asia Pacific session, but have again failed to hold north of the $1,900 handle. In recent trade, the precious metal has been caught going sideways in the mid-$1,890s, with the prospect for a fresh push higher again on Monday limited by the lack of market volume stateside. US markets are shut on Monday for Presidents Day so it is likely to be a very quiet US session. Geopolitics remains the wildcard that could stoke surprise volatility in either a bullish or bearish direction. The Russian rouble has been coming under significant pressure on Monday, indicative of rising fears of a Russian invasion/military incursion into Ukraine that would trigger a round of sanctions from Western countries against Moscow. Violence between pro-Russia separatists and Ukraine’s military in the contested Donbass region continued on Monday, the former group upping the inflammatory rhetoric by accusing Ukraine’s military of shelling and planning a full-scale assault. This is keeping gold underpinned close to recent highs. At current levels in the mid-$1,890s, the precious metal trades close to flat on the day and only about 0.75% below earlier session highs. One bearish risk to note for gold is whether a summit between Russian President Vladimir Putin and US President Joe Biden goes ahead this week following recent chatter. The meeting could be a good opportunity to ease tensions somewhat. Otherwise, US data and Fed speak will be worth watching, but will, for the most part, still play second fiddle to the Ukraine crisis.
Ukraine parliament approves crypto legislation amidst rising geopolitical tension

Ukraine parliament approves crypto legislation amidst rising geopolitical tension

FXStreet News FXStreet News 18.02.2022 16:20
Ukraine has revised its cryptocurrency bill and replaced the regulatory body for oversight on cryptocurrencies. Amidst rising geopolitical tensions, Ukraine has established the National Securities and Stock Market Commission of Ukraine.The updated version of the crypto bill identifies the National Bank of Ukraine and NSSMC as two major crypto regulators. Verkhovna Rada, the Parliament of Ukraine, has approved significant amendments in the country’s cryptocurrency bill, “On Virtual Assets.” Proponents consider the amendment bullish for the adoption of cryptocurrencies in Ukraine. Ukraine passes legislation on cryptocurrency bill amendmentWhile geopolitical tension rises, cryptocurrencies have suffered a bloodbath. Ukrainian Rada has passed the legislation in the second reading despite the dropping price and market capitalization, with 272 out of 365 deputies supporting the bill. The Ministry of Digital Transformation is no longer on the list of authorities overseeing the cryptocurrency market. The Parliament has appointed The National Securities and Stock Market Commission of Ukraine or NSSMC to regulate the cryptocurrency market. The updated version of the cryptocurrency bill appoints the two significant authorities National Bank of Ukraine and the NSSMC, as regulators of the crypto market. The authorities have been appointed to oversee the turnover of assets backed by currency valuables. Cryptocurrency assets and derivative financial instruments would be regulated under the new provisions. Alex Bornyakov, the Deputy Minister of Ukraine’s Ministry of Digital Transformation, believes that the ministry’s latest moves indicate an acceptance of cryptocurrencies in Ukraine. The country first started working on its crypto bill in November 2021, adopting cryptocurrencies to become a leader in the ecosystem. However, the initial crypto bill was sent back to the Parliament for further consideration. The news of the amendment is considered positive for adopting cryptocurrencies in Ukraine. This could contribute to a rise in demand in times of geopolitical tension.
WTI falls back into the $89.00s amid technical selling, Iran/US deal chatter, Ukraine crisis hopes

WTI falls back into the $89.00s amid technical selling, Iran/US deal chatter, Ukraine crisis hopes

FXStreet News FXStreet News 18.02.2022 16:20
WTI fell into the $89.00s on Friday and current trades about $2.0 down on the day. Technical selling, hope for a diplomatic solution to Ukraine crisis and talk of an Iran/US deal nearing soon weigh on oil. Technical selling, hopes that a high-level US/Russia meeting next week might solve the Ukraine stand-off and bets that US sanctions on Iranian oil exports will soon end amid momentum towards reviving the 2015 nuclear pact weighed on oil on Friday. Front-month WTI futures broke below a key upwards trendline that had been supporting the price action since the start of the year and slumped to the mid-$89.00s per barrel, where they now trade lower by more than $2.0 on the day. Bears will be eyeing an imminent test of the next key area of support in the $88.50 region in the form of last week’s lows. Despite news that pro-Russia separatist leaders in the self-proclaimed Donetsk and Luhansk People’s Republics in Ukraine’s Eastern Donbas region ordered an immediate evacuation of local civilians into Russia as fighting in the region escalates, traders hoped diplomacy could yet prevail. As Russia continue to amass troops on Ukraine’s doorstep, the US Secretary of State Anthony Blinken and Russian Foreign Minister Sergey Lavrov will meet face-to-face next week, reportedly under the condition that there will not be a Russian invasion. Separately, OPEC+ sources on Friday said the group thinks a US/Iran deal to revive the 2015 nuclear pact, thus removing US restrictions on Iranian oil exports and allowing for the return of 1.3M barrels per day to global markets, is near. Despite the Iran news and near-term bearish technical picture following the break below key 2022 uptrend support, traders said markets should remain reasonably well support near highs amid continued expectations for tight global oil market conditions.
Gores Guggenheim Stock News and Forecast: Is GGPI a better bet than LCID or RIVN?

Gores Guggenheim Stock News and Forecast: Is GGPI a better bet than LCID or RIVN?

FXStreet News FXStreet News 17.02.2022 16:10
GGPI Stock has rallied after a Superbowl ad. GGPI stock surges another 4% on Wednesday as momentum remains high. GGPI may struggle as markets turn negative and growth stocks struggle to hold gains. Gores Guggenheim (GGPI) stock is probably more commonly referred to as Polestar stock now that the SPAC will take electric vehicle maker Polestar public this year. The deal is due to complete some time in the first half of 2022. Polestar is an electric vehicle maker backed by Volvo and Chinese company Geely. So what is different about this one compared to the others? Gores Guggenheim Stock News Polestar looks merely like Volvo's EV division. We know this is not the case as Volvo has its hybrid and EV models planned. However, the companies certainly have strong links. Rivian (RIVN) went public in a blaze of hype and publicity due largely to its links to Amazon (AMZN) and Ford (F). Both companies had stakes in Rivian. However, from what we know, Rivian will have to build out its manufacturing and distribution network. It will not piggyback on Ford for this. Polestar uses the Volvo service network in the UK, and Polestar will utilize Volvo's South Carolina plant to manufacture Polestar models in the US. Previously, Polestar said it will have its showrooms in the US but use Volvo for servicing. Polestar will look to do as much sales work as possible online and use Volvo then for manufacturing and servicing. This gives it an obvious advantage over LCID and RIVN. Gores Guggenheim Stock Forecast On Wednesday, the stock spiked again, closing nearly 5% higher at $12.02. The company has been in charge since the Superbowl ad brought more attention to the stock and the cars. Both seem well received. Now GGPI stock has ramped up to a strong resistance area. Above $12 and as high as $12.36 is the previous spike high from December. This will be tough to break given that high risk stocks are likely to suffer as we close out the week. Geopolitical events are dominating and high growth names are still not favored. SPACs generally hold $10 cash until the deal goes through, so this is obvious support. The best strategy with SPAC trading is to try and buy as close to $10 as possible. GGPI 1-day chart
Decentralized Autonomous Organisation - Another Addition To Our Personal Dictionaries

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Investors spooked by renewed geopolitical tensions

FXStreet News FXStreet News 17.02.2022 16:10
Bitcoin price gets caught in a bearish triangle as tensions in Ukraine flare up again. Ethereum price returns to pivotal support, money repatriation goes into the second day. XRP price in pennant ready for a bearish breakout under the current sentiment. Cryptocurrencies are on the back foot as investors are getting worried about the escalating situation between Ukraine and Russia, as more reports come in from shots in the Donbas region near Luhansk. As the situation does not seem to de-escalate, investors are pulling their money out of what was believed to be the start of a solid and longer-term relief rally that is stalling at the moment. With more downside pressure to come, expect all significant cryptocurrencies to fall back to supportive pivotal levels. Bitcoin price falls into a bearish triangle, set to dip back below $40,000 Bitcoin (BTC) price is getting battered on Thursday after a fade on Wednesday that could still be attributed to some short-term profit-taking. The extension of the falls seems to confirm that sentiment is yet again dipping below zero towards risk-off. Investors pulling out their funds preemptively is reflected with the sharp decline in the Relative Strength Index, where the sell-side demand is outpacing the buy-side demand. In this context, Bitcoin price will remain under pressure for the rest of the week and could be set to slip below $40,000 in the coming days as the situation in Ukraine is set to deteriorate again, potentially inflicting further damage to the market mood. BTC price sees bulls unable to hold price action above $44,088 and in the process is forming a descending trend line that, together with the base at $41,756, is forming a bearish triangle. Expect Bitcoin valuation to decline further as the tensions around Luhansk increase by the hour. Once the $41,756 support is broken, the road is open for a nosedive towards $39,780 with the $40,000 psychological level broken yet again to the downside. BTC/USD daily chart A hail mary could be provided by the 55-day Simple Moving Average at $42,340, which already provided support on February 9 and February 15. With that move, a sudden breakthrough in the peace talks could become the needed catalyst to improve the situation and dislocate Bitcoin price action from the drag of the geopolitical news that is weighing. Bitcoin would see the demand on the buy-side blow up and see a big pop above $44,088. Ethereum bulls are breaking their jaws on the 55-day SMA as the price fades further Ethereum (ETH) price is getting crushed against the 55-day Simple Moving Average (SMA) around $3,143, with bulls unfit to push and try to close price action above it. After three failed attempts in a row, it is becoming clear that the bullish support is wearing thin as, on Tuesday, the daily candle closed above there, and even if the next day ETH price opened above again, it closed below the 55-day SMA. On Wednesday, finally, both the open and the closing price were below the 55-day SMA. This proves that sentiment has shifted in just three trading days and looks set to fade further away from the 55-day SMA on Friday. Expect going forward in the next coming hours that bulls will get squeezed against the wall at $3,018 with both a pivotal level and the $3,000 marker a few dollars below there. As tensions mount, expect some more negative headlines, a breach in defense of the bulls with even the monthly pivot at $2,929 getting involved in the crosshairs. Depending on the severity and the further deterioration of the political situation in Ukraine and the correction in the stock markets, it is possible to see a nosedive towards $2,695. ETH/USD daily chart Global market sentiment is hanging on the lips of Ukraine and the geopolitical situation. With that, it is clear that once the situation gets resolved or de-escalates, markets can shift 180 degrees in a matter of seconds. That same rule applies to cryptocurrencies where Ethereum could pop back above the 55-day SMA and even set sail for $3,391, breaking the high of February and flirting with new highs for 2022. Bulls joining the rally will want to keep a close eye and be mindful of the RSI, as that would start to flirt with being overbought and, from there on, limiting any further big moves in the hours or next trading days to come. Ethereum short squeeze could trigger a spike to $4,000 XRP price set to lose 10% of market value as headline news breaks down relief rally Ripple (XRP) price is stuck in a pennant and is close to a breakout that looks set to be a bearish one. As global markets are continuing the fade from Wednesday, XRP price is breaking below the recent low and sees bears hammering down on the ascending side of the pennant. As more negative headlines cross the wires, expect this to add ammunition for bears to continue and start breaking the pennant to the downside. XRP price will look for support on the next support at hand, which comes in at $0.78, and depending on the severity of the news flow, that level should hold again as it did on February 14. If that is not the caseany further downside will be cut short by the double bottom around $0.75 from February 12 and 13 and the 55-day SMA coming in at or around that area. With that move, the RSI will be triggering some "oversold" red flags and see bears booking profit. XRP/USD daily chart A false bearish breakout could easily see bears trapped on entering on the break to the downside out of the pennant as bulls go in for the squeeze. That would mean that price shoots up towards $0.88 and takes out this week's high. Bears would be forced to change sides and join the buy-side demand to close their losing positions, adding to even more demand and possibly hitting $0.90 in the process. XRP set to explode towards $1.00, bulls hopeful over SEC vs Ripple case
Binance Coin set for pop above significant resistance as relief rally takes a short halt

Binance Coin set for pop above significant resistance as relief rally takes a short halt

FXStreet News FXStreet News 16.02.2022 16:18
Binance Coin takes a small step back this morning due to some profit-taking.BNB bulls hold all the cards as the relief rally is not over yet.Expect a pop above $444-$452 with a profit target set at $480 for the moment.Binance Coin (BNB) price action shot back above the red descending trend line yesterday with a massive relief rally that lifted market sentiment. With that, the downtrend looks to be broken, and an uptrend could be on the cards if bulls can take out the $444-$452 resistance barrier with a triple top formation, the 55-day Simple Moving Average (SMA) and the longer-term pivotal level all coincide in this region. Once through there, expect the next stage to be set for a move towards $480 with the 200-day SMA coming in, returning another 10%.Binance Coin set for the second phase in the recovery rallyBinance Coin is undergoing some profit-taking this morning after the solid relief rally from yesterday (https://www.fxstreet.com/cryptocurrencies/news/cryptocurrencies-price-prediction-decentraland-binance-dogecoin-asian-wrap-16-feb-video-202202160214) that has lifted market sentiment and saw some decent inflows into markets. On the way up, bulls hit some resistance from the double top from February 08 and January 21 and, in the process, made it a triple top resistance. This, together with the already known $452 and the 55-day SMA coming in at $445, makes it a substantial (https://www.fxstreet.com/cryptocurrencies/news/binance-coin-must-break-out-above-this-level-before-bnb-can-retest-660-202202152150) barrier that will need to be broken to prove that the relief rally still has plenty of juice to go.Expect thus some profit-taking today, a little bit on the back foot with $419 as support to bounce off back to $445. Some more positive signals coming from the Russia-Ukraine developments could be the needed additional catalyst to push through this difficult barrier. The next target is set at $480, with the 200-day SMA falling in line with that considerable number, resulting in probably the same profit-taking pattern (https://www.fxstreet.com/cryptocurrencies/news/dogecoin-and-shiba-inu-price-climbs-as-binance-smart-chain-whales-accumulate-meme-coins-202202151719) as BNB price action shows today.BNB/USD daily chartOverall, the US keeps claiming that the situation in Central-Europe remains precarious and could see an escalation (https://www.fxstreet.com/cryptocurrencies/news/cryptocurrencies-price-prediction-bitcoin-binance-coin-and-decentraland-european-wrap-11-february-202202111055) any time now. Once those headlines hit the wires, expect the whole cryptocurrency space to collapse and for there to be a massive pullback from investors, with BNB price falling back initially to $389. Depending on the severity of the attacks, another push lower towards $340 would be the logical outcome and result in BNB price shedding 22% of its value.
Tesla Stock News and Forecast: TSLA, RIVN or LCID stock, which is the best buy?

Tesla Stock News and Forecast: TSLA, RIVN or LCID stock, which is the best buy?

FXStreet News FXStreet News 16.02.2022 16:18
Tesla bounces strongly on Tuesday as risk assets surge. TSLA stock gains just over 5% on Tuesday. Geopolitical tensions falling help risk appetites return. Tesla (TSLA) shares bounced strongly on Tuesday, eventually closing up over 5% in a strong day for equities. The stock market was buoyed by news of some Russian deployments returning to their bases. Russia then appeared to confirm this as hopes grew for a diplomatic solution. This saw an obvious bounce in equities (https://www.fxstreet.com/markets/equities) with the strongest names being those that were previously the weakest. Understandable, but is this gain sustainable? NATO this morning has said it sees no sign of Russian troops pulling back from the Ukraine border. NATO has said it sees Russian troop numbers still growing along the Russian-Ukraine border. This news (https://www.fxstreet.com/news) still has legs. Volatility has been high as a result and will likely continue that way. Tesla Stock News The latest quarterly SEC filings have provided much information to pore over. In particular, Tesla, they do note some hedge fund selling. This is not too surprising given the record highs TSLA stock pushed on to before Elon Musk sold a stake. Benzinga reports that the latest filing shows Ray D'Alio's Bridgewater cutting its stake in Tesla. Cathie Wood of ARK Invest was regularly top-slicing her firm's stake in Tesla recently. CNBC also reported yesterday that hedge fund Greenlight Capital had made a bearish bet on Tesla shares. Greenlight, according to the report, has been a long time Tesla bear. Apart from those snippets though, macroeconomic factors are the main driver of the Tesla stock price currently. Electric vehicle stocks have not been a strong sector so far in 2022 as growth, in general, is out of favor with investors. This has led to steep falls in other names such as Rivian (RIVN) and Lucid (LCID). Both are at a much earlier stage of development than Tesla (TSLA) and on that basis, we would favor Tesla (TSLA) over them. But we must stress we would ideally avoid the sector entirely until perhaps the second quarter. Once markets have adjusted to the prospect of higher rates, some high-growth stocks may benefit. historical in a Fed (https://www.fxstreet.com/macroeconomics/central-banks/fed) hiking cycle the main indices do advance but growth sectors struggle. Rivian so far is down 36% year to date, Lucid is down 24% while Tesla is the outperformer, down 12% for 2022. Tesla Stock Forecast We remain in the chop zone between the two key levels of $945 and $886. Breaking $945 should lead to a move toward $1,063. That would still be consistent with the longer-term bearish trend. Nothing goes down or up in a straight line. TSLA is unlikely to be able to fight the current overpowering macroeconomic backdrop of rising rates (https://www.fxstreet.com/rates-charts/rates) hitting high growth stocks. But breaking $945 is still significant in the short term and should see some fresh momentum. While $886 is significant, the 200-day moving average at $826 should have our real attention on the downside. Tesla has not closed below this level in over 6 months, so that would be significant and again lead to a fresh influx of momentum. Just this time though, it would be selling momentum. Tesla (TSLA) chart, daily Short-term swing traders should note the volume momentum behind moves. Once volume dries up, Tesla tends to fall off intraday. From the 15-minute chart below, we have an opening gap from Tuesday down to $880. This is short-term support, but a break will see the bottom of Monday's range at $840 tested. Tesla (TSLA) 15-minute chart
Oil influences FTSE 100 as it reaches 7611 GBP, USDJPY chasing 115.00

WTI pulls back sharply from Monday’s multi-year highs near $96.00, back to the $91.00s as geopolitical risk premia eases

FXStreet News FXStreet News 15.02.2022 16:09
WTI has pulled back sharply on Tuesday from Monday’s multi-year highs near $96.00 and is back in the $91.00s. Fears of an imminent Russian invasion into Ukraine have eased as Russia withdraws some troops, weighing on oil prices. Oil prices have pulled back sharply from Monday’s multi-year highs, with front-month WTI futures now trading back to the south of the $92.00 level, down about $3.0 per day and more than $4.0 below Monday’s multi-year highs near $96.00. Press reports about a withdrawal of troops on the Ukrainian border to their bases has spurred a rebound in risk appetite and reduction in demand for safe havens on Tuesday. Such flows could have further legs in wake of remarks from Russian President Vladimir Putin who just said that a decision on partial troop withdrawal had been taken. For oil, tentative signs of de-escalation have triggered profit-taking as geopolitical risk premia is reduced somewhat, though Western nations and NATO remain highly concerned that Russia maintains the option for a near-term attack. One theme to watch is that Russian President Vladimir Putin might imminently recognise the independence of the Luhansk and Donetsk People’s Republics (LPR and DPR), both breakaway regions of Ukraine located in the East. Western officials have criticised Russia’s State Duma for voting in favour of the recognition, which would break the Minsk Agreement designed to implement a ceasefire in the Ukraine civil war. Geopolitical strategists fear that Russia might create a false pretext for military action against Ukraine by rekindling violence in the East, with a recognition of LPR and DPR independence a potential step in this direction. For now, WTI traders will remain on tenterhooks and trading conditions will remain choppy/headline-driven. Near-term WTI bears will likely eye an imminent test of an uptrend that has been supporting the price action for the whole of 2022 thus far in the $90.00s. A break below this could see oil prices swiftly move back under $90.00 and hit support in the form of last week’s lows in the mid-$88.00s. Aside from Eastern European geopolitics, oil traders will also be keeping an eye on upcoming private weekly US oil inventory data at 2130GMT, as well as indirect US/Iran nuclear negotiations, which continue to rumble on in the background.
Sandbox price set for breakout as bulls target some low-hanging fruit

Sandbox price set for breakout as bulls target some low-hanging fruit

FXStreet News FXStreet News 15.02.2022 16:09
Since December, sandbox has been trying to break the downtrend. As bulls attempt to break through, expect some profits to be booked as some targets lie nearby. Once above $4.72, expect $5.00 and $6.00 to be the following targets in the relief rally. Sandbox (SAND) price action is surfing on a wave of relief this morning as tensions between Russia, and the West start to ease on positive news. With that, investors have been falling over each other to get back into cryptocurrencies, and Sandbox price is set to break the longer-term red descending trendline, and downtrend since December last year. Some low-hanging fruit will be targeted in the breakthrough and could provide enough incentive for bulls to book partial profits and go for the ultimate goal of $6.00, holding 47% of gains. Sandbox bulls are in for 47% gains in the relief rally Sandbox price action is again hammering on the red descending trend line that originates from December last year and has been dictating the downtrend ever since. The renewed push comes from tailwinds that emerged overnight on some positive news around de-escalation in the situation between Russia and Ukraine. As the scene is set for a solid relief rally, expect to see some excellent (https://www.fxstreet.com/cryptocurrencies/news/sandbox-tests-support-at-425-before-sand-test-prior-all-time-highs-202202112001) returns, beginning with some nice profits nearby as a good start. SAND bulls will have their eyes on $4.72 with the 55-day Simple Moving Average and an overall (https://www.fxstreet.com/cryptocurrencies/news/cryptocurrencies-price-prediction-dogecoin-sandbox-and-cardano-european-wrap-10-february-video-202202101133) pivotal level falling in line around the same area. Although this level is not far from the red descending trendline, it will still return around 16% of gains intraday. Bulls will have a good incentive to book profits midway but stay in the trade with more considerable profits gained when the price rises towards $5.00 and $6.00 – the next targets in this week’s relief rally. The trade has an excellent risk-return ratio and is the most viable (https://www.fxstreet.com/cryptocurrencies/news/sandbox-price-bound-for-another-30-gains-as-sand-finds-support-202202101005) as we advance. SAND/USD daily chart Should German chancellor Scholz come out with some negative comments and ramp up the rhetoric of full-scale escalation of the tensions, expect (https://www.fxstreet.com/cryptocurrencies/news/shiba-inu-to-enter-the-metaverse-and-challenge-axie-infinity-sandbox-and-decentraland-202202091718) a knee jerk reaction with a firm rejection or false break of the red descending trend line, trapping bulls and pushing them out of their positions as SAND price action collapses back towards $3.50. From there, another leg lower could follow towards $3.00, with the 200-day SMA coming in at around $2.85 and playing its part as a supportive element in the belief that a recovery is still possible. If the 200-day SMA is no match for the downward pressure, expect a break and further push towards $2.50 or $2.00.
Dogecoin price prediction: DOGE to first tank 7%, before rallying 40%

Dogecoin price prediction: DOGE to first tank 7%, before rallying 40%

FXStreet News FXStreet News 14.02.2022 15:59
Dogecoin price action is under pressure as global markets are nervous about a possible escalation between Ukraine and Russia. DOGE looks set to break the low from the previous week and dip towards $0.1357 Expect once DOGE price reaches that level to see a rally into the weekend that could hold 40% gains. Dogecoin (DOGE) is set for a solid rally but first needs to face the most vital forces with global markets pressing on all assets with a mood of risk-off, as today and tomorrow could be the tipping point in the escalation towards a war between Russia and Ukraine. As tailwinds are just too big a force to face, DOGE will dip further towards solid support at $0.1357. Once bulls enter, expect a big rally that could swing up to 40% towards $0.19. Time for the bulls to stake a step back and look at the bigger picture Dogecoin is under pressure as the overall cryptocurrency space joins global markets rattled by a crucial moment in the Russia-Ukraine development. As Russian army exercises near the Ukrainian border are set to end tomorrow, the crucial moment for a possible invasion to take place before then. This is putting markets on edge with risk-off across the board and EU equities down more than 3%. This risk sentiment is weighing on DOGE price action with the low of last week being tested, and bears using the entry-level from Sunday at $0.1594 where the 55-day Simple Moving Average and the pivotal historical level delivered a firm rejection to the upside. With that, expect this downtrend to continue today and dip towards $0.1357, which already proved its support at the end of January. Once there, expect bulls to jump on the opportunity and lead a rally that could jump as much as 40% towards $0.19 once the geopolitical rhetoric dies down and cools off. DOGE/USD daily chart Should Russia engage in war with Ukraine and invade, expect this to pull the trigger for investors to flee the markets and cause a fire sale across the board. For DOGE this would mean that it could tank another 24% on top of the 7% forecasted for today. That would bring DOGE price action down to around $0.1030, where the monthly S1 support level is situated, the red descending trendline and the $0.1000 psychological level – providing three elements that could catch the falling price action.
Tesla Stock Price and Forecast: Should I buy TSLA, RIVN or LCID?

Tesla Stock Price and Forecast: Should I buy TSLA, RIVN or LCID?

FXStreet News FXStreet News 14.02.2022 15:59
TSLA drops nearly 5% on Friday as macro factors in charge. All EV stocks LCID, Chinese names suffer the same fate. Tesla once again is targetting its 200-day moving average. Tesla (TSLA) followed many EV names (all, if we are correct) lower on Friday as macro factors took charge over equity markets. The dominant theme so far in 2022 has been one of rising rates and inflationary pressures. This has led to high growth and tech names underperforming, while energy and financial stocks have been the place to be. That is likely to remain the theme for at least the next quarter if not also Q2. Russia and Ukraine tensions have pushed the oil price above $90, and financial stocks benefit from higher interest rates. Growth stocks, however, do not benefit from higher interest rates as investors look for businesses with cash. With higher interest rates, future cash flows become less valuable. So of the three names mentioned, Tesla, Rivian (RIVN) or Lucid (LCID), we would not want to currently be long any of them. We expect TSLA to perform best of the three due to its market-leading position and revenue, but this sector is out of favour and likely to remain so. Tesla Stock News The latest data from the China Passenger Car Association (CPCA) confirms what we saw from Chinese EV companies earlier. Deliveries for January were down versus December. This is due to the lunar new year in China. Tesla sold 59,845 vehicles in January, down from 70,847 China-made vehicles in December. The Chinese electric vehicle market remains the largest EV market in the world, helped by government incentives and population demand. Tesla Stock Forecast Tesla remains in the strong downtrend identified earlier this year. $945 was tested multiple times as resistance and failed. This has resulted in the recent pullback. Now $824 remains as the 200-day moving average. Below we have trendline support at $752. The 200-day is the key level. Tesla has not closed below its 200-day moving average since June 2021. It has broken the 200-day on an intraday basis several times since but always failed to close below. Notice how volume has steadily been declining in Tesla this month, despite some hugely volatile days. This is indicative of a lack of conviction in the stock. Tesla (TSLA) chart, daily
Bitcoin Bond! Is The "Out Of The Park" Play Coming?

Bitcoin Bond! Is The "Out Of The Park" Play Coming?

FXStreet News FXStreet News 10.02.2022 15:44
El Salvador plans to issue its first Bitcoin bond between March 15 and March 20, 2022. The corporate adoption of Bitcoin went parabolic since the addition of BTC to MicroStrategy’s balance sheet. Amidst rising adoption from institutions, the Salvadoran Finance minister expects the offering to be oversubscribed by an additional $500 million. Analysts at FSInsight predict Bitcoin price could hit $222,000 before the end of 2022. El Salvador has announced the launch of its Bitcoin bond next month. Salvadorans are riding the wave of institutional Bitcoin adoption, fueling a bullish outlook among investors. Bitcoin price rally fueled by El Salvador’s bond issuance and institutional investment El Salvador plans on issuing its first Bitcoin bond in March 2022. The Salvadoran Finance Minister, Alejandro Zelaya told a local news show that the government plans to issue the Bitcoin bond between March 15 and March 20. Zelaya was quoted as saying: If we really want to build this country, we have to invest in it like this. The Salvadoran Bitcoin Bond will pay investors 6.5% per annum. $500 million raised from the bond issuance will be used for Bitcoin mining and developing renewable energy from volcanoes, another $500 million for buying more Bitcoin. El Salvador’s government plans to issue $1 billion for the first bond and expects it to be oversubscribed by an additional $500 million. The minimum purchase is $100, and investors can directly buy without involving a broker. The Bitcoin bond would be issued on Blockstream’s Liquid Network sidechain. Salvador’s move to launch a Bitcoin bond is timed in accordance with the rising corporate adoption of the asset. Firms are keen on adding Bitcoin to their balance sheet; recent Wells Fargo and JP Morgan reports have affirmed a bullish outlook on BTC price. Analysts at FSInsights recently evaluated the Bitcoin price trend and set a target of $222,000 for the end of 2022. FXStreet analysts believe that Bitcoin price could stumble on track to $50,000.
Considering Portfolios In Times Of, Among Others, Inflation...

The Indicators Hit Higher Levels Than Expected In The US

FXStreet News FXStreet News 10.02.2022 15:44
US inflation have exceeded expectations on all measures. Alongside a jump in jobs, America's economy is on fire and the Fed is set to act. The dollar has further room to rise, at least until Fed officials open their mouths. A 6% handle on annual price rises – another milestone has been reached, this time on core inflation. Data for the first month of 2022 is hot out of the oven – and it is steaming hot. While prices of used cars and shelter seemed to have slowed down, there are few silver linings to find. On a monthly basis, both headline and Core CPI is up 0.6%, while overall annual price rises is at 7.5%, above expectations – and even implying an 8% handle next month. It is essential to note that this is no longer limited to energy or supply-chain issues, but rather broad price rises. It is accompanied by a job market that is on fire, as jobless claims for the week ending On February 4 show – a drop from 238,000 to 223,000. That comes on top of January's jobs report. Only six days ago, the Nonfarm Payrolls report came out with an increase of 467,000 positions, accompanied by upward revisions. Wages also jumped according to that NFP, adding to price pressures. Both figures are critical to the Federal Reserve, which has a dual mandate of full employment and price stability. The data more than cement a March rate hike and perhaps at a scale of 0.50% instead of 0.25%, which is the standard measure. Moreover, the Fed could raise interest rates four times by July – contrary to its projections of hiking only three times throughout the whole of 2022. That means more pressure on the dollar. The greenback has benefited from a knee-jerk reaction to the figures, but it has even more room to rise as analysts pore over the data. What could halt the greenback? Only Fed officials can cool things down, by playing down the option of raising rates by 50bp in March. That is what happened last week when hawks such as Atlanta Fed President Raphael Bostic and others calmed markets. On a relative basis, some currencies could do better than others, if central bankers talk about action to mitigate inflation. The European Central Bank's hawkish twist helped the euro recover against the dollar. After these figures, ECB hawks face an uphill battle. Overall, King Dollar reigns supreme.
Peloton Interactive (PTON) Stock News and Forecast: And just like that, it's back

Peloton Interactive (PTON) Stock News and Forecast: And just like that, it's back

FXStreet News FXStreet News 09.02.2022 16:19
Peloton shares continue to be the most discussed stock on mainstream and social media. Two straight days of 20%-plus gains for PTON stock. The new CEO gets just the start he would have wanted. It is not exactly reassuring to your confidence when you step down as CEO of a company and the stock immediately explodes higher. Investors clearly had enough of Peloton's (PTON) former CEO John Foley. New man Barry McCarthy hits the ground running despite some mixed commentary from the analyst community this morning. Peloton Stock News Peloton reported earnings on Tuesday. The stock had already surged on news (https://www.fxstreet.com/news) of a new CEO and continued reports that the company may be in the sights of big tech eyeing a potential takeover for the beleaguered fitness company. Revenue came in at $1.13 billion below the $1.15 billion estimate. Earnings per share (EPS) came in below estimates at $-1.39 versus the $-1.20 estimate. The outlook was also weak with Peloton seeing full-year 2022 revenue at $3.8 billion, while analysts had forecast $4 billion. Following the results, Stifel maintained its buy rating on PTON with a $45 price target. Macquarie maintained its outperform rating with a lowered $60 price target, while Barclays also lowered its price target to $60 as well. Bank of America said, "Our estimates that assumed price cuts would drive new demand were too optimistic." BofA has a $42 price target for the stock. Peloton shares had already been strongly ahead in Tuesday's premarket before the earnings release. This was due to the new CEO and a cost-cutting plan including laying off 2,800 employees. The list of potential buyers for Peloton continued to grow as speculation mounted. Potential acquirers include virtually every major fitness company, numerous big tech firms, Berkshire Hathaway and SoftBank. We do question whether in particular big tech would get much benefit out of the acquisition. Fitness has been a big part of the wearable market, and Peloton's subscribers are its value, but do Apple, Amazon and Google really struggle that much for users? Sports companies mentioned include Nike (NKE) and Adidas (ADDYY). These may make more sense as the subscribers could generate more value, add-ons and ancillary sales. Peloton Stock Forecast The weekly chart (https://www.fxstreet.com/rates-charts/chart) gives us all the information we need going back to the launch in September 2019. Peloton (PTON) rallied all the way up to $171 this time last year before steadily falling back. The stock has now totally retraced all of the pandemic gains and then some. In that respect, investors may be tempted to buy into the name as subscribers in 2019 totaled just over 500,000, whereas currently Peloton has 2.77 million subscribers. From the weekly chart, we can see the power of volume gaps we often talk about. Peloton broke sharply once it entered the light volume zone from $81 to $37. Now it has stabilized at a high volume zone and the point of control. This does set a potential base for the stock. (https://www.fxstreet.com/markets/equities) Peloton (PTON) chart, weekly The daily chart below shows we have had a bullish divergence on the Relative Strength Index (RSI) since the last earnings despite the share price continuing to slide. $23 remains support with first resistance at $46. This latest move is likely to calm down unless more takeover talk surfaces. If the price move does calm, then holding above $30 is key to keeping the bottom in place. Peloton (PTON) chart, daily  
Crypto Airdrop - Explanation - How Does It Work?

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos to retrace before the bull run

FXStreet News FXStreet News 09.02.2022 16:19
Bitcoin price slows down its ascent after flipping the $42,748 hurdle into a foothold. Ethereum price contemplates a retracement after facing the 50-day SMA at $3,208. Ripple price looks ready for consolidation after a 51% ascent over the past four days. Bitcoin price rally is slowing, allowing bulls to take a breather before the next leg-up. While some might argue the short-term outlook looks bearish – due to the flash crash in January, the bigger picture reveals cryptocurrency (https://www.fxstreet.com/cryptocurrencies) markets still have the potential to go higher. A Wells Fargo report published in February reveals that cryptocurrency adoption is growing exponentially and, in many cases, resembles the growth curve of internet adoption. The American financial corporation even goes on to state the crypto sector could soon exit the initial phases of adoption and enter “an inflection point of hyper-adoption.” Wells Fargo Report: Internet usage history vs crypto users Bitcoin price at a decisive moment Bitcoin price rallied 25% in the last four days and set up a swing high at $45,539.(https://www.fxstreet.com/cryptocurrencies/news/bitcoin-begins-correction-after-45k-rejection-where-can-btc-price-bounce-next-202202081914) The rally rippled out, triggering copycat moves in other altcoins and the cryptocurrency market in general. Yet BTC failed to produce a daily candlestick close above the breaker’s upper limit at $44,387. So, as a result, the bearish outlook is still in play. Investors should be prepared for anything between a minor retracement and a full-blow bear trap. An optimistic scenario will likely see BTC retest the weekly support level at $39,481 before triggering the next leg-up. A more pessimistic scenario, however, would speculate that Bitcoin price could crash to $34,752. A breakdown of this support floor could be the key to triggering a crash to $30,000 or lower. BTC/USD 1-day chart While things look on the fence for Bitcoin price, (https://www.fxstreet.com/cryptocurrencies/bitcoin) a daily candlestick close above $44,387 will invalidate the bearish thesis. A bullish regime, however, will only kick-start if BTC produces a daily candlestick (https://www.fxstreet.com/rates-charts/chart/candlestick-patterns) close above $52,000.   Ethereum price takes a breather Ethereum (https://www.fxstreet.com/cryptocurrencies/ethereum) price seems to be undergoing a pullback (https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-holds-above-3k-but-network-data-suggests-bulls-may-get-trapped-202202090153) as it faces off with the 50-day Simple Moving Average (SMA) at $3,208 while still hovering inside a bearish breaker, extending from $2,789 to $3,167. A rejection here could lead to a retracement to $2,812, where buyers have a chance at restarting the uptrend. Assuming the bullish momentum picks up, there is a good chance ETH could slice through the $3,208 and make a run for the $3,413 hurdle. The local top for Ethereum price could be capped around the convergence of the 50-day and 100-day SMAs at roughly $3,600. ETH/USD 1-day chart On the other hand, if Ethereum price fails to stay above $2,812, it will indicate that buyers are taking a backseat. This development will invalidate the bullish scenario and trigger a crash to the weekly support level at $2,324. Ethereum price could liquidate bulls if ETH falls below $3,000 Ripple price to reestablish directional bias Ripple price broke out of its ten-day consolidation (https://www.fxstreet.com/cryptocurrencies/news/xrp-price-could-easily-return-to-1-under-one-condition-202202081437) and rallied 51% in just four days. This run-up sliced through the $0.740 and $0.817 hurdles, flipping them into support levels. While this climb was impressive, XRP price is likely to retrace as investors begin to book profits. The resulting selling pressure could push Ripple price down to the $0.740 support level where buyers can band together for a comeback. In some cases, the U-turn might not arrive until a retest of the $0.595 to $0.632 demand zone. Regardless, investors can expect XRP price to run up to $1 and collect the liquidity resting above it. XRP/USD 1-day chart On the contrary, if the Ripple price fails to stay above the $0.595 to $0.632 demand zone, it will reveal the lack of bullish momentum and hint that a further descent is likely. In this case, XRP price will sweep below the $0.518 support level to collect the sell-side liquidity resting beneath. XRP price could easily return to $1 under one condition
Will Sandbox (SAND) Reach $5 In The Near Future?

Will Sandbox (SAND) Reach $5 In The Near Future?

FXStreet News FXStreet News 08.02.2022 16:08
Sandbox price action has broken above $4.72 but fades in early trading today. SAND price action is at the intersection of a red descending trend line and the historical pivot level. Expect current favourable tailwinds to boost confidence for bulls leading to a break to the upside and new all-time highs. Sandbox (SAND) price action broke above $4.72 yesterday and saw bulls trying to test $5.0. But the intersection of the descending trend line and a pivot level proved to be too heavy and pushed price action back below the $4.72 historical level. Expect bulls to keep supporting as more tailwinds coming from geopolitics support the case for more upside potential towards $6.0. Sandbox price targets $6 for this week Sandbox price looked set to finally end the downtrend since November 25. The intersection of the red descending trend line dictating the downtrend and the historical $4.72 pivotal historic level from November 23, proved too big of a hurdle for price action to close above yesterday. Instead, bulls decided to take profit with price fading as we speak. SAND does not need to one-directionally tank further but will probably see bulls keeping price close to the pivotal $4.72 level. With several favorable tailwinds, such as positive news from talks between Putin and Macron, investors look to be back on the scene and putting some money on the table to invest in risk assets like cryptocurrencies. This will filter through in the demand side volume and will provide the needed impetus to punch through $4.72 again and close above, putting an end to the downtrend and targeting $6.0 this week. SAND/USD daily chart The resistance double whammy at the aforementioned intersection could prove too big of a temptation for profit-taking, and result in the Relative Strength Index dipping further, below 50, and translate into further downside for the altcoin towards $4.28, making it even harder to try for a daily close above $4.72. That could lead to yet more liquidation and see a return to a base level around $3.50.
NIO - Will It Support The Rise Of Chinese Tech Stocks?

NIO - Will It Support The Rise Of Chinese Tech Stocks?

FXStreet News FXStreet News 08.02.2022 16:08
NIO stock gets a strong rating from latest Barclays research. NIO remains bearish and is down 25% year to date. NIO and other Chinese EV names remain in growth mode as the latest delivery data showed. NIO stock remains mired as it ended Monday virtually flat. The stock is down over 40% from three months ago as Chinese names see international investors flee on regulatory concerns. NIO Stock News It has been a turbulent time for holders of Chinese tech stocks. Alibaba's ANT Group spin-off set things off. Then the DIDI delisting not long after its IPO added to woes. Then a host of regulatory crackdowns was the final straw for international investors who bailed out of the names en masse. This is despite the EV names in particular remaining on track from a growth perspective as all have posted strong delivery data. While January deliveries slowed from December, the yearly growth rates still are impressive. January is traditionally the slowest month of the year in China though due to the lunar new year. NIO for example delivered 7.9% fewer vehicles in January versus December. On a yearly basis, January deliveries were 33.6% higher. This was replicated across many other Chinese EV names. Now Barclays has picked up the theme as it issues a bullish note this morning. "We believe that the rapid adoption of EVs around the world and booming EV sales have presented China’s EV makers a rare opportunity to not only take a sizable market share of the domestic auto market – the largest in the world with about 25-30% global share by units sold per annum – but also build a dominant position on the world stage." Barclays put a $34 price target on the shares. This does highlight the potential growth potential of Chinese tech stocks and the EV space in particular. We question whether investors will reenter, however, having been let down previously. Fool me once, shame on you, fool me twice... Ok, let's not have another George W. Bush moment! The point is a valid one. It will likely take more than analyst upgrades to tempt investors back to the space. Goldman, the king of investment banks, has previously been strongly bullish on NIO and to no avail. It will take a series of strong earnings and relative calm in terms of regulatory concerns to eventually tempt investors back. NIO Stock Forecast The recent spike lower did fill the gap from back in October 2020. The market just loves to fill gaps. We also note this spike lower created a shooting star candle, a possible reversal signal. There is already a bullish divergence from the Relative Strength Index (RSI) as shown. The area around $27.34 is the first resistance. Getting back above indicates the bearish trend may finally be slowing. That would then bring NIO into a range-bound zone from $27 to $32. Only breaking $33.80 from January 3 ends the downtrend. Support is at $14 from the strong volume profile. Look for an RSI breakout as that could signal more gains. The RSI has been shrinking in range and may test an upside breakout. NIO 1-day chart
WTI choppy in $91.00-$92.00 area as traders weigh US/Iran talks, geopolitics, supply disruptions

WTI choppy in $91.00-$92.00 area as traders weigh US/Iran talks, geopolitics, supply disruptions

FXStreet News FXStreet News 07.02.2022 16:06
WTI has erased most of an earlier session dip under $91.00 but has been choppy in $91.00-$92.00 rangesSome attributed earlier session profit-taking to positive signs in US/Iran nuclear talks. Traders are also mulling developments regarding geopolitical, near-term supply concerns and ongoing strong demand.WTI was hit by profit-taking in early European trade, dipping at one point underneath the $91.00s. However, trade has since been choppier in both directions, with WTI prices more recently swinging between the $91.00-$92.00 area. At current levels around $91.50, front-month WTI futures trade with losses of about 50 cents on the day and remain only a few bucks below recent seven-year highs above $93.00, as the market mood for the most part remains bullish. Market commentators had cited positive signs on the US/Iran nuclear negotiations front as one trigger for profit-taking earlier in the day; the US restored sanction waivers to Iran that will allow international nuclear cooperation projects. Although the waivers hardly do anything to help the Iranian economy, market commentators said it was a sign of goodwill from the US that showed the country is intent on finding a deal.Iranian crude oil (https://www.fxstreet.com/markets/commodities/energy/oil) exports, hobbled by strict US sanctions, currently stand at about 700K barrels per day (BPD) versus pre-US sanction levels of well over 2M BPD. If the US and Iran can agree on a deal to return to the 2015 nuclear pact, this jump in oil exports could help ease upward pressure on crude oil markets in the near term. However, analysts at Fujitomi Securities cautioned that “investors expect more twists and turns in the U.S.-Iranian talks and no agreement to be reached anytime soon.”WTI’s impressive intra-day recovery speaks to the ongoing bullishness of the mood prevailing in crude oil markets. As the US continues to warn that a Russian military incursion into Ukraine could be imminent, the amount of geopolitical risk premia priced into global oil markets remains high. Oil markets will focus on a meeting in Moscow between French President Emmanuel Macron and Russian President Vladimir Putin later in the day, with no progress towards dialing down tensions expected.In the meantime, recent cold weather in the US has hampered near-term output, with Reuters reporting that two major refineries with a combined more than 800K BPD in output were knocked offline. That contributes to the narrative of near-term tightness in global oil markets, just as the Saudis were reported (by Bloomberg) to have raised official oil selling prices for Asian, North American and European customers. Many analysts will remain comfortable in the calls for WTI to hit $100.
Bitcoin, Ethereum, Metaverse Tokens Sink After Holiday Crypto Rally

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC bears to go extinct beyond $53,000

FXStreet News FXStreet News 07.02.2022 16:06
Bitcoin price looks overextended as it grapples with the 50-day SMA and the weekly resistance barrier at $42,816. Ethereum price pierces through the bearish breaker and approaches the 50-day SMA at $3,242. Ripple price approaches the $0.757 to $0.807 supply zone that could cut the uptrend short. Bitcoin price has seen tremendous gains over the past three days as it attempts to overcome a massive hurdle. While altcoins like Ethereum and Ripple have corresponded to this bullishness, investors need to exercise caution with fresh investments as a retracement could be around the corner. Bitcoin price faces a decisive moment Bitcoin price has risen 18% over the past four days and is currently hovering below the 50-day Simple Moving Average (SMA) and the weekly resistance barrier confluence at $42,816. If this uptrend is a bull trap, BTC is likely to see rejection followed by a retracement to the immediate support level at $8,481. A breakdown of the said barrier will knock the big crypto down to $34,752. In an extremely bearish case, Bitcoin price could revisit the $30,000 psychological barrier and collect the liquidity resting below it. BTC/USD 1-day chart If BTC produces a daily candlestick close above the breaker’s upper limit at $44,387, however, it will invalidate the bearish thesis. While this development will alleviate the sell-side pressure, it does not mean that Bitcoin price has flipped bullish. A daily candlestick close above $52,000 will produce a higher high and suggest the possible start of an uptrend. Ethereum price slithers close to bearish thesis invalidation Ethereum price has followed the big crypto and pierced the bearish breaker, ranging from $2,789 to $3,167. Any further bullish momentum will push ETH to climb higher and retest the 50-day SMA at $3,242. Assuming BTC retraces, investors can expect Ethereum price to face rejection at $3,242, leading to a 25% pullback to the weekly support level at $2,324. In a highly bearish case, Ethereum price could revisit the $1,730 weekly support level and collect the sell-side liquidity resting below it. ETH/USD 1-day chart Regardless of the bearish outlook, the Ethereum price can invalidate the short-term bearish outlook if it produces a daily candlestick close above the $3,167 resistance zone. A bullish scenario could be kick-started, however, if buyers push ETH to produce a swing high at $3,413. Ethereum price gains momentum to breakout to $3,300 Ripple price faces a blockade Ripple price broke out of its consolidation and rallied 25% from $0.604 to $0.754. This impressive move is currently retesting the weekly resistance barrier at $0.740, which rests below another hurdle that extends from $0.757 to $0.807. Rejection at this multi-resistance zone seems likely considering the situation in which Bitcoin is in, and investors can expect the Ripple price to retrace 16%, returning to the consolidation zone at $0.628. XRP/USD 1-day chart A daily candlestick close above the supply zone’s upper limit at $0.807 will signal a resurgence of buyers and indicate their willingness to move higher. In this case, Ripple price could set up a higher high by rallying 12% to $0.911.    
Ethereum Price Prediction: ETH targets $3,000

Ethereum Price Prediction: ETH targets $3,000

FXStreet News FXStreet News 04.02.2022 16:06
Ethereum price made a false break below a short-term trend line yesterday.ETH price breaks above $2,695 and is set for a run towards $3,018.This would mean 13% gains for ETH and a more favourable outlook for next week.Ethereum (ETH) price is set to book the best gains it has made for the whole of 2022, as a bullish candle has now formed on the back of a significant support level. With that move, many bears are getting hurt as they probably fell in the bear trap with the false break below the supportive short-term trend line. Expect more upside to come with global markets enjoying the rally in Amazon shares, which is spilling over into cryptocurrencies and lifting sentiment in ETH towards $3,018.ETH bulls are stabbing bears in the back with a trapEthereum price was dangling below a short-term trend line and looked quite heavy after the slippage (https://www.fxstreet.com/cryptocurrencies/news/top-3-price-prediction-bitcoin-ethereum-ripple-crypto-sentiments-rolls-over-as-meta-shakes-nasdaq-202202031412) from META earnings. But that markets can change their minds overnight is proven yet again, after Amazon’s earnings fueled a booster rally which we are seeing today. This has spilled over into cryptocurrencies and is lifting sentiment in ETH prices with a firm break above $2,695, squeezing out bears in the process, who went short on the false break of the trend line, and it is now just a matter of time before they close out and take their losses.ETH price is thus set for a second rally today as those bears will need to revert to the buy-side volume (https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-pushes-higher-eth-targeting-3-500-202202021800) to close and cut their losses. This will add a boost to ETH prices and could see Ethereum bulls hitting the price target at $3,018, taking out the $3,000 level, and setting the stage for next week. With that move, the red descending trend line could be broken, and with that, the downturn since December, finally (https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-pushes-higher-eth-targeting-3-500-202202021800) breaking the chances for bears and setting the stage for a possible longer-term uptrend.ETH/USD daily chartNevertheless, there are still some earnings on the docket for today that could surprise to the downside and see those tailwinds (https://www.fxstreet.com/cryptocurrencies/news/top-3-price-prediction-bitcoin-ethereum-ripple-crypto-markets-to-favor-bears-soon-202202020838) as quickly fade as they came. Expect that with that lack of support, ETH price will collapse back to $2,695 and start to weigh further on the bulls. Should that spiral into equities, pushing them firmly in the red, and impacting safe haven flow – expect a dip back towards $2,600.
Pinterest (PINS) Stock News and Forecast: Earnings see shares rise, but can it continue?

Pinterest (PINS) Stock News and Forecast: Earnings see shares rise, but can it continue?

FXStreet News FXStreet News 04.02.2022 16:06
Pinterest shares rise over 12% in the premarket on Friday. PINS stock surges down to an earnings beat on the top and bottom lines. Pinterest shares remain in a long-term downtrend. Pinterest (PINS) reported strong earnings after the close Thursday night that saw the stock move up over 18% in afterhours trading. So far, most of those gains are holding early on Friday with PINS at $27.70. This represents a gain of 13% from Thursday's close. Pinterest Stock News Earnings per share came in at $0.49 versus consensus estimates for $0.45. Revenue hit $846.7 million versus consensus estimates of $827.2 million. The shares immediately jumped on the news. (https://www.fxstreet.com/news) "We took important steps in 2021 with the launch of our foundational technology to deliver a video-first publishing platform. And, I'm proud to say that for the first time, we surpassed $2 billion in revenue for the year — growing 52% over the previous year — and reached our first full-year of GAAP profitability," said Ben Silbermann, CEO and co-founder of Pinterest. PINS was set up for outperformance and the risk-reward was clearly to the upside. PINS stock had closed the regular session on Thursday down over 10% as the read-across from Facebook saw investors dump the stock. (https://www.fxstreet.com/markets/equities) Just like Amazon, a surprise to the upside offered a better risk-reward profile, and so it proved with investors rushing to cover positions. Pinterest Stock Forecast Pinterest remains mired in a long-term downtrend. Paypal (PYPL) had been rumoured to be in discussion to acquire PINS back in October of last year. PINS shares had spiked to $65 on the rumour, but supposedly Paypal shareholders resisted and nothing ever happened. This led PINS shares on a steady downweard path ever since. The shares are down nearly 70% in the last year and 26% already this year. This move does not really do much to turn that trend around in our view. The big damage was done in the break of $32.34. That remains the bullish pivot. The first support is at $24.08. Pinterest (PINS) chart, (https://www.fxstreet.com/rates-charts/chart) 20 hourly
AMC Entertainment Holdings Stock News and Forecast: AMC nearly doubles debt raise

AMC Entertainment Holdings Stock News and Forecast: AMC nearly doubles debt raise

FXStreet News FXStreet News 03.02.2022 16:35
AMC stock slumped yesterday as debt raise news was digested. AMC now nearly doubles the raise from $500 million to $950 million. AMC is down over 40% in the last month and 43% for 2022. AMC Entertainment Holdings (AMC) stock is back on the news wires the last few days, but unfortunately for holders it has not been well received. AMC stock put in three consecutive green days before slumping over 8% on Wednesday. Risk aversion returned, but AMC also announced it was raising more debt to refinance its existing debt. The stock closed at $15.42 for an 8.5% loss on the day. AMC Stock News This morning AMC has nearly doubled its debt offering from $500 million to $950 million. There is also see a bit more detail on the offering. It is to carry a 7.5% interest rate and expires in 2029. The funds will be used to retire existing debt at 10.5% expiring in 2025. The extra $450 million sees AMC also redeeming some notes at 15-17% due in 2026. So AMC is basically remortgaging at a lower rate. This will reduce its interest payments. AMC needs to do this, however, as it carries too much debt. The company has $5.4 billion in long-term debt. AMC has about $1.6 billion in cash, but it spends nearly $100 million per quarter on debt repayments. So remortgaging makes sense, but it is not exactly comforting. CEO Adam Aron has been looking for ways to improve the financial position of the company, and investors baulked at more share issuances. This was the obvious next step but comes a bit later than optimal. Junk bond yields had reached a record low during the summer. The rate of 7.5% is more or less in line with the sector. CCC high yield corporate bonds are currently yielding on average 8.3%. This is up from 6% during the summer. Moody's reacted positively and changed its outlook to positive. AMC Stock Forecast For now, AMC shares are holding the support at $14.54, but risk aversion is growing after FB earnings last night and a suprisngly hawkish Bank of England this morning. Equity markets will suffer with high risk names getting hit the most. Expect $14.54 to break with the next support at $12.22. A break here and the lure of $10 will be obvious. Only beaking $21.04 ends this curent bearish trend. AMC daily chart
Decentralized Autonomous Organisation - Another Addition To Our Personal Dictionaries

MATIC Price Prediction: Polygon hints at a retest of $1.95

FXStreet News FXStreet News 03.02.2022 16:35
MATIC price is hovering above the weekly support level at $1.44, hinting at a move higher. Investors can expect Polygon to rally at least 15% before encountering a tough hurdle. A breakdown of the $1.41 support level will invalidate the bullish thesis. MATIC price recovery after the January flash crash was good but is slowing down. The ongoing consolidation will likely result in an uptrend (https://www.fxstreet.com/cryptocurrencies/news/matic-price-consolidates-before-jumping-to-190-202202022123) that propels Polygon to revisit crucial levels. MATIC price sets the stage MATIC price has been teetering above the $1.44 support level and will likely retest it soon. A bounce off this barrier could be the key to triggering an uptrend. In some cases, the rally could even begin before the initial pullback. Regardless, investors can expect a minimum 15% ascent from MATIC price that tags the supply zone’s lower limit at $1.75. In a highly bullish scenario, Polygon could pierce this hurdle and make a run for the weekly resistance barrier at $1.95. This move would bring total gains from 15% to 27%, from the current level at $1.53. Investors willing to go long could enter a pilot position at the current level and wait for a retest of the $1.44 barrier. If the latter does not arrive, market participants can book profits following a retest of $1.75 and $1.95. MATIC/USDT 4-hour chart While things seem straightforward for MATIC price, a breakdown of the $1.44 support level could dent their optimism. A four-hour candlestick close below $1.41, however, will create a lower low and invalidate the bullish thesis, making an ideal place to enter a stop-loss. A bearish turn could see MATIC price crashing 13% before retesting the $1.23 weekly support level.
Having A Look At The Markets Considering Tensions, COVID-19 And National Banks Decisions

ECB February Preview: Euro bulls hope for a hawkish ECB on hot EU inflation

FXStreet News FXStreet News 02.02.2022 15:56
EUR/USD has been rising steadily since the beginning of the week. Annual HICP in the euro area came in much higher than expected in January. Euro could lose its bullish momentum if ECB downplays inflation concerns. The shared currency suffered heavy losses against the dollar last week after FOMC Chairman Jerome Powell confirmed the Fed’s hawkish stance in the face of high inflation. Following a sharp decline to its lowest level since June 2020, however, EUR/USD managed to stage a decisive rebound during the first half of the week and advanced beyond 1.1300. In addition to renewed dollar weakness, hot inflation data from the euro area helped the pair push higher mid-week. Eurostat reported that annual inflation in the euro area, as measured by the Harmonised Index of Consumer Prices (HICP), rose to 5.1% in January from 5% in December. This print came in higher than the market expectation of 4.4%. The Core HICP, which excludes energy, food, alcohol and tobacco prices, edged lower to 2.3% from 2.6% but surpassed analysts’ estimate of 1.9%. With the first FOMC meeting out of the way, markets now await the European Central Bank’s (ECB) policy announcements and the euro could find it difficult to extend its rebound if investors are reminded of the policy divergence between the Fed and the ECB. ECB on hold The ECB is widely expected to leave its policy settings unchanged following the February policy meeting. In December, the ECB confirmed that it will end the Pandemic Purchase Emergency Programme (PEPP) in March. To soften the policy transition, the ECB announced that it will increase the monthly purchases under the Asset Purchase Programme (APP) to €40 billion in Q2 and €30 billion in Q3 from the current level of €20 billion. The bank intends to maintain the APP purchases at a pace of €20 billion for “as long as necessary” from the last quarter of the year. While speaking at the press conference in December, ECB President Christine Lagarde refrained from dismissing the possibility of a rate increase before the end of 2022 and helped the common currency stay resilient against its rivals for the remainder of the year. Commenting on the inflation outlook earlier in the month, several ECB members sounded relatively optimistic and EUR/USD struggled to preserve its bullish momentum. ECB policymaker Peter Kazimir noted that inflation in the eurozone was expected to peak in the “nearest months” before starting to decline. Moreover, ECB chief economist Philip Lane said that they are not yet seeing a big response from wages to inflation. Similarly, Lagarde explained that energy costs were rising due to temporary factors and added that there were no signs of wages being “bid up.” Hawkish scenario: In case Lagarde hints at the possibility of a rate hike before the end of the year after the latest inflation report, that could be assessed as a hawkish tilt in the ECB’s policy outlook and provide a boost to the euro. Currently, eurozone money markets are pricing in 30 basis points of rate hikes by the end of the year. Dovish scenario: Lagarde might opt to communicate that inflation is close to peaking in the eurozone and outright reject a rate hike in 2022 while pushing back against market rate-hike bets. Lagarde might also mention that they don’t need to normalize the policy as fast as the Fed by highlighting the differences in economic conditions in the US and the EU. Neutral scenario: Given the fact that the ECB will not release its revised economic projections until March, it would be surprising to see an obvious shift in the ECB’s tone. The accounts of the ECB’s December meeting revealed that policymakers are divided over the inflation outlook and February's policy statement is unlikely to touch on that. The ECB should reiterate that it stands ready to act if inflation becomes persistent in the euro area and that it remains committed to ensuring price stability. EUR/USD Technical Analysis Unless the ECB delivers a hawkish surprise, the policy divergence between the Fed and the ECB should continue to favour the dollar over the euro and limit EUR/USD’s upside. At the time of press, the pair was trading near 1.1300, where the 20-day and the 50-day SMAs are located. In case EUR/USD starts using these levels as support, it could target the next static resistance at 1.1375 ahead of 1.1430 (100-day SMA). Meanwhile, the Relative Strength Index (RSI) indicator on the daily chart stays near 50, suggesting that the pair needs to push higher to convince investors that the latest advance is the beginning of an uptrend rather than a correction. On the flip side, a dovish ECB statement could attract bears and cause the pair to slide toward 1.1200 (psychological level, static level). If this support fails, EUR/USD (https://www.fxstreet.com/currencies/eurusd) could touch a fresh 19-month low at 1.1100.
Shiba Inu price consolidation set for a bullish breakout with 28% appreciation

Shiba Inu price consolidation set for a bullish breakout with 28% appreciation

FXStreet News FXStreet News 02.02.2022 15:56
Shiba Inu is seeing lower highs and lower lows compressing price action around $0.00002179. SHIB price is next set for a bullish breakout with several tailwinds present in equities. Expect for SHIB bulls to lift price action back above the 200-day SMA, potentially gaining 24%. Shiba Inu (SHIB) has been stuck in consolidation since January 22 with lower highs and higher lows, punching in both buyers and sellers towards each other with the scene set for a breakout. From the looks of it, that will be a bullish breakout, supported by tailwinds from global equities being on the front foot, with the Nasdaq leading the charge. Expect bulls to break above the 200-day Simple Moving Average (SMA) in the process, and try to reach $0.00002782, the 78.6% Fibonacci level. SHIB bullish breakout holding 28% gains Shiba Inu price may have had its low for the year after hitting $0.00001730 on January 22. Since then, the price has shifted a bit sideways around $0.00002170, with lower highs and higher lows going for consolidation between buyers and sellers. The price in SHIB is so condensed now that a breakout is due. As global markets are on the front foot and risk assets are leading the charge, these tailwinds will spin-off towards cryptocurrencies and set the stage for a bullish breakout towards $0.00002782 as target. SHIB price will, in that process, take out the 200-day Simple Moving Average (SMA) at $0.00002562, which does not hold much importance seeing it only got breached on one occasion. Bulls will instead want to look out for $0.00002782, which is the 78.6% Fibonacci level and is an essential indicator that there might be an uptrend in the making. More upside will depend on how the tailwinds behave as the 55-day SMA looks quite heavy around $0.00003000. SHIB/USD daily chart Alternatively, the consolidation could still see a bearish breakout, with bears trapping bulls and running price action back to $0.00001730, or possibly even $0.00001500 back down onto the monthly S1 support level. The reason for the bearish breakout could come from very choppy economic data that could start to point to a global recession with elevated prices and job numbers worsening again. That would trigger a global risk-off wave that could put cryptocurrencies on the backfoot.
Technical Analysis: Moving Averages - Did You Know This Tool?

(PLTR) Palantir Stock Went Down And Isn't Even Close To November's Levels

FXStreet News FXStreet News 01.02.2022 15:49
Palantir stock rises by nearly 8% on Monday. PLTR shares have suffered from the hawkish Fed and risk aversion. Palantir could see a rally as risk assets see inflows. Palantir (PLTR) is back on the minds of traders as retail interest stocks finally catch a bid in this new environment. Meme and retail interest stocks have been hammered so far in 2022. Most, if not all, of these stocks are high growth, unprofitable and highly speculative names, and the momentum has dried up in this sector in 2022. The Fed has pivoted to a strongly hawkish stance, and markets are pricing in five rate hikes this year. Palantir has fallen 25% so far this year and nearly 50%over the last three months. Palantir Stock News The meme and retail space staged a recovery yesterday as some end-of-month position covering saw some positive flows. Added to this was a more risk-on tone following from Apple's strong earnings late last week and in anticipation of more big tech earnings this week. AMC then whetted risk appetites further this morning when it released revenue numbers that were ahead of analysts' forecasts. AMC shares popped 14% and dragged many retail and meme stocks along with them. All this should contribute to more gains for Palantir on Tuesday as momentum is key for these names. Adding to this and more stock-specific is that Palantir and Satellogic (SATL) announced a strategic partnership. "Combining the forces of Palantir’s Edge AI technology with Satellogic’s frequent high-resolution imagery will give users actionable insight faster than ever, accelerating their operations from space to mud," said Shyam Sankar, COO of Palantir. "The holistic capabilities of Palantir's Foundry will be instrumental in helping Satellogic realize our mission to improve life on Earth through geospatial data,” said Matthew Tirman, President of Satellogic North America. “ Satellogic will provide Palantir’s US government customers with ready access to Satellogic’s high-resolution satellite imagery to drive analytical insights across a range of mission-oriented use cases.” Satellogic only recently went public via a SPAC deal, listing on the NASDAQ on January 26. We do not have details of the financial side of the partnership or the impact on Palantir's revenue streams. The partnership is for five years, and the companies already have an existing collaboration. All this makes it less significant in our view as it is merely an add-on to an existing relationship between the two companies. Investors are pushing the news aggressively on social media. Palantir Stock Forecast We do note the oversold Relative Strength Index (RSI) on January 27 with it dipping below 20. Oversold readings are usually below 30 for the RSI, but 20 eliminates false signals. This then worked well, and today's move is likely to see more gains. Breaking $13.61 gets PLTR shares above the 9-day moving average, and the next resistance is at $15 from both the yearly VWAP and 21-day moving average. The VWAP is the volume-weighted average price. Palantir (PLTR) chart, daily
GBP To USD Chart - A Small Step For GBP As It Strenghtens And Reaches Ca. 1.3500

GBP To USD Chart - A Small Step For GBP As It Strenghtens And Reaches Ca. 1.3500

FXStreet News FXStreet News 01.02.2022 15:49
The British pound climbs in the North American session, 0.34%. The market sentiment is mixed as European stocks rise while US futures point towards a lower open. BoE’s 25 basis points rate hike is fully priced in by investors. The GBP/USD remains downward biased, as it failed to breach above the 100-DMA. After ending January with losses of 0.65%, the British pound snaps three-day losses, climbing 0.31%. At the time of writing, the GBP/USD is trading at 1.3495, though retreating from the 100-day moving average (DMA) lying at 1.3514. As depicted by European stock indices rising, the market sentiment is mixed, but US equity futures underpins the cash market towards a lower open. Bank of England (BoE) expected to post back-to-back rate hikes In the meantime, money market futures, as shown per the CME Group BOEWATCH tool, 100% of market participants expect an increase of 25 basis points, from 0.25% to 0.50%. Sources cited by CNBC said that “With the Bank Rate reaching 0.5%, we expect the MPC to confirm that all APF (asset purchase facility) reinvestments will cease following the February decision.” Source: CME Group Meanwhile, the Philadelphia Fed President Harker crossed the wires. He commented that the Fed is not behind the curve, and he expects a rate hike of 25 basis points, four in the year. Concerning the balance sheet reduction, he said that the US central bank could begin the Quantitative Tightening (QT) once the Federal Funds Rates (FFR) hit 1% to 1.25%. The UK economic docket featured the BoE Consumer Credit, Mortgage Approvals for December. The former came at £0.8B in line with expectations, while the latter rose to 71.051K, higher than the 66K foreseen. Concerning the Market Manufacturing PMI Final for January, increased to 57.3, a tick more elevated than the 56.9 estimated, though trailed the previous month 57.9, showing some slowing, due to the Omicron hit. Across the pond, Manufacturing PMI released by IHS Markit and the ISM for January will be closely watched by GBP/USD traders. That alongside the JOLTs Job Opening for December could shed some light, in anticipation of Thursday’s Jobless Claims and Friday’s Nonfarm Payrolls report. GBP/USD Price Forecast: Technical outlook The GBP/USD is downward biased. During the European session, the pair retreated at the 100-day moving average (DMA) at 1.3514, but any downward moves might be capped by the 50-DMA lying at 1.3418. To the upside, the GBP/USD will face resistance at 1.3500, followed by the 100-DMA at 1.3514 and an eight-month-old downslope trendline around the 1.3530-40 region. On the flip side, the 50-DMA at 1.3418 is the first support level, followed by the 1.3400 figure, and then the YTD low at 1.3357.
Tesla (TSLA) Price Also Has Its Ups and Downs. It's Below $920 Currently

Tesla (TSLA) Price Also Has Its Ups and Downs. It's Below $920 Currently

FXStreet News FXStreet News 31.01.2022 15:49
Tesla stock tumbles after beating earnings estimates TSLA shares hit by concerns over supply chain issues. Apple and big tech could turn the market next week. Tesla (TSLA) staged a modest recovery on Friday, but the real damage was done on Thursday when the stock shed nearly 12%. Friday's move was not even that impressive given Tesla's high beta, a fact that would usually see it bounce significantly more than the major indices. As we know well by now high, growth is not the sector of choice this year, and Tesla does straddle this space. Investors are moving back to more traditional sectors and metrics for their portfolios, and the era of high flying growth is coming to an end, for now at least. We view this as a positive event, stretching too far would have resulted in an ugly snapback or bubble popping most likely. This stabilisation should continue for the year with one or two speculative dead cat bounces along the way. We may just get one of those next week as the remainder of big tech gets a chance to continue on from where Apple led. Amazon (AMZN), Google (GOOGL) and Facebook (FB) are all reporting earnings this week. Positive earnings should steady sentiment, and this would then also likely spread to some high growth names. However, in the longer term, we expect balance sheets rather than growth to outperform this year. Tesla Stock News Tesla is not just pure growth, although it is managing to do that rather impressively if the latest results are anything to go by. It will stay with the pace, while other start-up EV manufacturers are more likely to fade away. Tesla created the EV space and remains the brand leader. This will likely not change since it has positioned itself as a premium brand. It will likely face more competition, but we do not see it losing quite as much market share as that forecast by Bank of America. Forecasting a drop from 69% to 19% market share in the space of two years does seem a bit headline-grabbing. The problem for Tesla is its valuation got too ahead of itself, so it is likely to underperform in this new environment despite continued strong earnings and revenue growth. Tesla Stock Forecast The bearish trend is now well-established. Thursday's losses only followed on from what we identified back in early January. The spike higher failed, and then it created a lower low, which confirmed the mid-December low. Even Friday's price action set a lower low than Thursday before the bounce set in. Resistance at $987 is last week's high and is first up. A close above that is significant and a new bar above that will signify a small short-term uptrend. Otherwise, the medium-term downtrend remains in control with support at the 200-day moving average, which sits at $814 currently. Tesla (TSLA) chart, daily
SolScan - Many Of Investors Probably Don't Know This Term

(SOL) Solana Price Is Quite Far From End of 2021 Tops

FXStreet News FXStreet News 31.01.2022 15:49
Solana price keeps hovering above the monthly S2 support. SOL price sees RSI slowly climbing out of the oversold area on the RSI. Expect a pickup in bullish sentiment once Nasdaq confirms risk-on will be the central theme for this week. Solana (SOL) price saw its bullish reversal stop short on Sunday and is now nearing the monthly S2 support level again at $89.28. Although ASIA PAC equity and European indices are firmly in the green, the sentiment has not spilled over to US futures and cryptocurrencies yet. Expect a bounce off the monthly S2 support level and look for a first test at $100 to the upside before continuation this week towards $130.70. Solana bulls are pushing the RSI away from the oversold area Solana price action saw bulls in good shape on Friday and Saturday, erasing a part of the games and trying to reach $100 to the upside. Instead, the sharp uptick stopped on Sunday as cryptocurrencies again looked heavy, with trading starting on Monday. Strangely enough, the most critical Asian indices and European indices are firmly in the green, where US futures are somewhat mixed and relatively flat during the European trading session. Expect for SOL price to stay hovering around this S2 level as the Relative Strength Index (RSI) is still at or in an oversold area, limiting any potential downside for bears. This should help bulls to use this window of opportunity to go long and make a bounce off the S2 level at $89.28. Once US futures kick into gear and take over the sentiment from Europe, expect some bullish uptick again, targeting $100 intraday and $130.70 for this week. SOL/USD daily chart On the downside, a break below the S2 support level would see a dip towards the low from last week, around $82. If European indices give up their gains and turn red, together with US futures firmly in the red, expect to see another wave of selling, with a possible nosedive threat towards $58.84. With that move, the RSI would overshoot firmly into being oversold.
APPL (Apple) After Release of The Reports. How Will It Affect The Market?

APPL (Apple) After Release of The Reports. How Will It Affect The Market?

FXStreet News FXStreet News 28.01.2022 16:11
Apple stock surges after a strong earnings release. AAPL popped 2% on the numbers, and this move has continued. Apple could turn the entire market sentiment around. Apple (AAPL) dropped earnings after the close last night, and they amounted to a blow out. There had been some talk of record numbers and iPhone sales prior to the release, but this set of earnings surprised even the most bullish previews. The stock immediately popped 2% and stabilized but has since added another 2% to its after-market gains and is currently at $165.79 in Friday's premarket. This marks a 4% gain on the regular session close from Thursday. This big question is whether Apple (AAPL) can turn the entire market sentiment around. It is after all the biggest company in the world with the highest weighting in the main S&P 500 and NASDAQ indices. It certainly has the potential to call a bottom to this miserable start to 2022. Apple Stock News Earnings per share (EPS) came in at $2.10 versus the average estimate of $1.88. Revenue also beat estimates, hitting $123.9 billion versus $118.28 billion. The closely watched iPhone revenue number hit $71.63 billion and represents just under 58% of Apple's total revenue. Gross margins increased from 39.8% to 43.8% yearly. On the conference call post earnings, CEO Tim Cook said he sees this margin remaining strong in Q2 2022 to 43% at the midpoint of projections. However, the March quarter is traditionally the slowest of the year earnings wise due to the post-holiday season lull in sales activity. CFO Luca Maestri addressed the key question of supply chain issues, saying chip issues are only a problem for mostly older models and that problems have eased. Tim Cook said the supply chain is doing well. Overall, this was exactly what the market needed: blowout earnings with a significant beat. The earnings call offered strong revenue and most importantly positive commentary around the supply chain and semiconductor chip issues. We will likely see multiple analyst upgrades as the day progresses. Apple Stock Forecast This now becomes a key barometer for the broad market. AAPL should stabilize and appreciate further from here based on these results. If this current rally fails and fades, then truly we are entering a correction phase. For now, $157 remains key support. This is the high from September and also the 100-day moving average. Hold here and we can then target $167.63 and then onto record highs. Also note how the Relative Strength Index (RSI) is oversold by traditional metrics at 30 (we prefer to use 20) and how the Moving Average Convergence Divergence (MACD) is also at lows with the histogram at the widest we have seen for some time. All of these are indicators of oversold conditions. Everything looks set up for a turnaround. The only caveat is the overall market sentiment. Apple (AAPL) chart, daily
What Are Next Steps of MANA (Decentraland) Price?

What Are Next Steps of MANA (Decentraland) Price?

FXStreet News FXStreet News 28.01.2022 16:11
Decentraland price looks to be set to close the week in profit. MANA price action went against the tide, with global markets nervous and still jitters after the Fed tightening announcement. A weekly close above the S1 and Fibonacci low should trigger a return to the upside. Decentraland (MANA) price has been on the front foot in a challenging market environment. MANA bulls look ready to eke out 28% of gains for this week after the price lifted from the 200-day Simple Moving Average (SMA) and is now set to pop and stay above the monthly S1 support level. Expect more investors to join the rally once the MANA price can consolidate above the S1 and set $2.57 later today as the price target. MANA price set for 15% price hike Decentraland was forming a falling knife last week but got picked up after the bounce off the $1.67 handle and went against the tide this week as the 200-day SMA around $2.0 offered a window of opportunity for more bulls to extend the recovery. In a slow grind, price action again space and lifted MANA 28% until Decentraland price is hovering. As bulls are now trying to consolidate above the monthly S1 at $2.24, and with that as well reentered the Fibonacci retracement to all-time highs. MANA price is yet still far away from any all-time highs. Global markets still look very much on edge, but that does not mean that Decentraland price action will disappoint to the upside. Expect more investors to come in during the US session if MANA price can stay above $2.24. That trigger and inflow will see price action propel further upwards to tick $2.57, the low from December 04 and set as an easy profit target to be reached. MANA/USD daily chart The monthly S1 can be proven slippery when wet, and price action could easily slide back below, triggering bulls to take their money and run. MANA price would be plie back against the 200-day SMA, break it and fulfill the swing trade towards $1.67. Would the swing lower trigger an even more aggressive selloff from bulls and investors, expect a short overshoot towards $1.28, just above the monthly S2.
US GDP Analysis: America is stocking up, how that boosts the Dollar and equities in tandem

US GDP Analysis: America is stocking up, how that boosts the Dollar and equities in tandem

FXStreet News FXStreet News 27.01.2022 15:59
The US economy grew at an annualized rate of 6.9% in the last quarter, beating estimates. Inflation eroded another 7% of growth, indicating the Fed's hawkish stance and boosting the dollar. Fast growth in inventories is a sign of easing supply-chain issues, supporting stocks.Finally, some straightforward responses – the dollar and US stocks rise together in response to strong US data. Good news for the economy is also positive for traders, who now have an easier path to trade. The safe-haven dollar trade is gone, or at least suspended.Gross Domestic Product figures help shape this new correlation, but it builds on top of the Federal Reserve's decision. Starting from the data release, Washington reported an annualized growth rate of 6.9%, far above 5.5% expected, and an encouraging figure in absolute terms. That came despite higher inflation, 7% annualized in the fourth quarter. In nominal terms, the economy expanded at a whopping rate of 14.3%, or 10% for the entire year – far above 5.7% in real terms. Fast growth and strong inflation justify the Fed's decision to tighten its policy, kicking off with a rate hike in March – one of many. It also vindicates the words from Chair Jerome Powell, who said that the labor market can handle higher borrowing costs. The strong economic figures point to employment growth.While tighter policy supports the dollar, shouldn't stocks suffer? Apart from the easy explanation – economic growth means higher company profits – one detail in the report also provides hope. Inventories added no fewer than 4.9 percentage points to GDP growth. What does inventory data mean? In normal times, when companies replenish inventories during one quarter, they tend to deplete them in the next one. However, these are times when supply-chain issues dog the US and global economies. This leap in inventories is a sign that supplies are moving along. When there is merchandise in storage, it is easier to fulfill consumer demand. Moreover, it should help ease inflationary pressures as well. That is a win for stocks.At the moment, price increases remain rapid and the labor market is tight – meaning higher rates and a stronger dollar. This tandem increase in the dollar and stocks is set to continue, assuming no geopolitical shock.
Tesla Stock Price and Forecast: Why did TSLA fall despite beating earnings estimates?

Tesla Stock Price and Forecast: Why did TSLA fall despite beating earnings estimates?

FXStreet News FXStreet News 27.01.2022 15:59
Tesla stock swung around violently post the earnings release. TSLA shares quickly dropped 6% despite beating earnings estimates. Tesla then recovered to trade down 2% as buyers stepped in. Tesla (TSLA) swung around pretty wildly in the after-hours market on Wednesday following its earnings release. The stock dropped 6% fairly rapidly despite beating on the top and bottom lines. Buyers then went bargain hunting as the market struggled to grasp what metric to focus on. By the time things settled down, we were nearly back to where things started. At the time of writing, Tesla is back to $930 in the premarket on Thursday, so only $7 or less than 1% lower from where Tesla stock was trading at the close of the regular session and before the earnings drop. Tesla Stock News Tesla beat on earnings per share (EPS), coming in at $2.54 versus the $2.26 average estimate. Revenue also beat forecasts, coming in at $17.72 billion versus the $16.35 billion estimate. This was a pretty strong performance beat on both top and bottom lines. Margins also held up well, coming in at 30.8% versus estimates for 30%. So far so good. However, Tesla then mentioned that its factories were not at full capacity and it saw this continuing into 2022. Supply chain issues were to blame, and investors took a dim view of this and sold the stock sharply lower. However, buyers then stepped in as arguments over demand versus supply issues surfaced. The demand profile remains strong and Tesla stuck to its strong outlook for demand going forward. If it can address supply issues and with new factories in Texas and Berlin coming on line, it may be in a position to drive more supply to meet demand. It is certainly better to have a problem meeting demand than it is to have a lack of demand. This is a case of "if you build it, they will come" for Tesla going forward. Tesla Stock Forecast TSLA bottomed out at $879 after the release, but in reality it spent very little time down there. This is interesting to us on a technical view as it prints a higher low than Monday's sell-off and puts in place the potential for a bottoming formation. From the 4-hour chart below we can see this price action in play. The lows from Monday at $855 are our short-term pivot. Above there things have a chance to turn bullish in a more medium-term view. Below and it is on to $813 to test the 200-day moving average. Tesla chart, 4 hourly
Binance Coin price bound for 15% upswing as bulls make a comeback

Binance Coin price bound for 15% upswing as bulls make a comeback

FXStreet News FXStreet News 26.01.2022 16:40
Binance Coin has been range trading for the past four days between $335 and $389. BNB price shows bulls pushing bears against the high of this week, ready for a breakout. Expect bears to be stopped out and open momentum for bulls to run the price up to $452. Binance Coin (BNB) price was able to find a floor at $335 with the monthly S2 monthly support level as an area where bulls were interested in getting involved in the price action. BNB price is now quickly ramping up and squeezing bears out of their entries at $389, which is acting as the weekly high. With the squeeze, a pop is set to unfold towards $452, the first significant level of resistance that could halt the rally near-term. BNB price set for a bullish breakout Binance Coin sees bulls trading away from the monthly S2 support level at $335 tested twice and bulls jumping on the buying volume to get involved in the price action. Backed by the green ascending trendline, a bullish entry makes sense as the Relative Strength Index (RSI) has just exited oversold territory. As such, sellers do not have much incentive to stay further in their short positions as further gains look limited for now. BNB price thus offers a solid entry point, and bulls are now ready to break above $389, the weekly high and short-term cap that has kept BNB price limited to the upside this week. As bears are being pushed against that level, expect their stops to be run once bulls break above it, which will trigger a massive demand for buying volume and squeeze price action even higher. The monthly S1 does not hold much historical reference, so $452 makes the most sense with the 200-day Simple Moving Average just above as a cap, that needs to be broken to start speaking of an uptrend. BNB/USD daily chart In the wake of the Fed meeting later today, most investors will be holding their breath further into the afternoon. If the Fed delivers a hawkish tone or even hike today, that will set a negative tone for global markets and see a sharp decline in risk assets led by equities and cryptocurrencies. Expect BNB price action to result in bulls being pushed against the monthly S2 support and the green ascending trend line around $320-$335.
Apple Stock Price and Forecast: AAPL earnings preview

Apple Stock Price and Forecast: AAPL earnings preview

FXStreet News FXStreet News 26.01.2022 16:22
Apple reports earnings after the close on Thursday.With the Fed out of the way, the road is cleared for the stock superpower.AAPL could help turn the entire market sentiment after Microsoft beat. Apple is due to report earnings after the close on Thursday. With the Fed meeting ending today, investors will then focus on the tech sector to hopefully end the bearish mood currently hitting markets. Tech names along with a not-too-surprising Fed (https://www.fxstreet.com/macroeconomics/central-banks/fed) could turn things around. Sentiment is beginning to look overdone, but it is imperative to get solid earnings from the tech sector. So far the bank sector has disappointed, while the energy sector looks like it should outperform. This week as we mentioned in our preview note is key with 104 of the S&P 500 companies reporting. Apple Stock NewsApple reports after the close on Thursday, January 27. Earnings per share (EPS) is expected to come in at $1.89 on revenue of $118.28 billion. Wall Street analysts also expect Apple to have sold 80 million iPhones in the last quarter. Bank of America certainly is looking to the upside as it outlines in a note out this morning. The bank sees iPhone sales coming in at 81 million and sees a strong revenue number of $121 million, well ahead of forecasts. Analysts have been active this week on the name ahead of earnings. Earlier we reported on Goldman Sachs maintaining their $142 price target ahead of earnings, while Morgan Stanley expects strong iPhone deliveries to maintain bullish earnings.As ever the commentary around earnings will be as important as the earnings themselves. Last time out the dreaded supply chain and chip issues came to light, so we will look for more clarity around these areas.Apple Stock Forecast$157 is big, very big. A break and it likely heads to $148, which is a huge volume profile support and the point of control. But breaking $157 does put in a new lower low and so continue the downtrend. The Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) both look quite stretched, but the RSI is not yet oversold. The MACD, meanwhile, is at its lowest since March of last year, and the histogram is also at its widest in a year. Earnings then could be the catalyst to turn this trend around. Apple (AAPL) chart, daily
GME Stock Chart - We Might Believe $86 is the Current Support

GME Stock Chart - We Might Believe $86 is the Current Support

FXStreet News FXStreet News 25.01.2022 15:55
GameStop stock crashes but recovers in the afternoon. GameStop shares close nearly 6% lower on Monday. GME shares remain top of WallStreetBets interest list. GameStop (GME) stock likes volatility, and meme traders should certainly be used to it by now, but perhaps not the type that was evident yesterday. GameStop shares crashed below $100 and kept on going before a broad-based afternoon rally helped GME stock recover to close just above the psychological $100 level. GameStop Stock News Again we find ourselves writing about a stock with significant movement based solely on price action. There is little in the way of actual hard news flow. GameStop stock has not had a good start to the year, but despite this it remains one of the top trending stocks across most social media platforms. This has partly to do with loyalty and partly to do with the one-year anniversary of the GameStop saga. However, for the most part traders are fixated on the big picture theme of us versus them that captured the whole argument. GameStop is now down over 30% so far in 2022. GameStop Stock Forecast We remain bearish on this one, which I know many loyal holders may not want to hear. We have to focus on the chart and what we can take from that. Loyalty, if not profitable, is pointless to a trader. Emotion should always be controlled. Breaking $100 was psychological and led to some stops likely triggering. We had identified $86 as strong support for the last few weeks, and GME shares more or less bounced perfectly from it yesterday. GME stock bottomed out at $86.29, so we can take some kudos for that. But now where? Holding $86 was actually pretty important as below is a big volume gap that would likely see an acceleration toward $70. Holding gives some hope of a rebound, but $118.59 remains the short-term pivot for us. Below here bears are in charge. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are both still following price lower, so there is no sign of any divergence or oversold conditions just yet. GameStop (GME) chart, daily
BTCUSD Chart Don't Show Us Any More Than $36.7k As Fed is About to Meet

BTCUSD Chart Don't Show Us Any More Than $36.7k As Fed is About to Meet

FXStreet News FXStreet News 25.01.2022 15:55
Bitcoin price is not yet ready for an uptrend as bulls cannot keep price above $36,709. Although BTC price posted a bullish candle yesterday, investors are still concerned and cannot look beyond the FED meeting tomorrow. BTC could shed another 10% towards $32,649 before investors go in massively for the long. Bitcoin (BTC) price is still not yet set for a rebound as bears can trip bulls and push the price back below the pivotal level at $36,709. As markets are trying to catch a breather, it does not look like bears will be going away that easily and could pressure BTC price action to the downside. Expect a nervous session to unfold with price swinging back and forth at that pivotal level, but ultimately likely to break to the downside towards $32,649, with a loss of 10% on the day. Bitcoin price is set for a nervous session Bitcoin saw bulls coming in strong once price action slipped briefly below the monthly S2 at $33,742. Bulls bought everything in sight and pushed price action back up above $36,709 but failed to safely position the trade for a further uptick in the coming trading session. As BTC price is already undergoing some profit-taking, it looks as if investors are still awaiting confirmation that the pain trade is over. BTC price will probably trade a nervous session today, as markets will want to wait for the FED meeting later tomorrow and will not want to preposition for the possibility the FED disappoints or delivers an even more hawkish message. Expect choppy price action around $36,709, and possibly another leg lower towards the monthly S2 at $33,742. A test and break below yesterday's low at $32,649 is not an impossibility if Nasdaq sheds multiple percentages points off its value again. BTC/USD daily chart If global sentiment changes and pushes US equities in the green later this afternoon, expect a bullish flood to come into cryptocurrencies. That would see BTC price testing $39,780 to the upside with the monthly S1 support as resistance from any upside. If the rally is large and broad, expect even $44,088 to be on the cards, and for that to erase a large part of the downturn since the beginning of this year.
GME Is Plunging Recently, GameStop Stock Price Is Currently ca. $94

GME Is Plunging Recently, GameStop Stock Price Is Currently ca. $94

FXStreet News FXStreet News 24.01.2022 16:27
GameStop stock stages a dead cat bounce on Friday. GME stock closes up nearly 4% on Friday as market freefalls. More losses are likely on Monday as momentum fades and meme is massacred. GameStop (GME) managed to outperform the market significantly on Friday. The meme stock king closed nearly 4% higher at $106.36 despite the main indices closing sharply in the red. However, this was merely a dead cat bounce, and we will outline our reasoning below. GameStop Stock News Nothing too significant behind Friday's outperformance. GameStop (GME) shares had suffered eight consecutive days of losses. Statistically, an up day was becoming more and more likely. GameStop passed a few milestones without much fanfare or reaction from the stock price. Social media traders attempted to play up the one-year anniversary of the GameStop pop, and CEO Ryan Cohen joined in. However, the stock slid. An announcement of a pivot into the NFT space was also met by indifference after a quick surge from the share price. Despite GME spending much of last week near the top of social media mentions, it failed to hook any buyers. The market has little time for risk at present, and speculative meme stocks are getting hit hard so far this year. As we have mentioned, this may be a good thing and avert a full-blown bubble bursting, akin to 2000. The NFT announcement did see a brief pop, but that merely presented a fresh selling opportunity. Year to date, GME is now down nearly 30% and is likely to get worse. The main trading lesson of momentum trading is to get out quickly when momentum stops or stalls. This is not investing or buy-and-hold. This is the realm of quick scalping and risk control. Momentum has collapsed in retail names. Witness falling volumes, falling single share volumes, lower retail sentiment, and drastically lower call option volume: all signs of falling momentum. GameStop Stock Forecast $100 will be broken soon, possibly today or Tuesday. That will lead to some stop-loss triggering as people are herd animals and love round numbers. There will be plenty of stops sitting just below $100. $86 is the target thereafter. The Relative Strength Index (RSI) still has more room to run before being overbought. Breaking $86 is big. That was the retest following the power surge higher back in February pf last year. Below $86 volume thins out, and there is a volume gap until $50. GameStop (GME) chart, daily
(ADA) Cardano Price - ADA To USD Chart Shows It's a Little Above $1

(ADA) Cardano Price - ADA To USD Chart Shows It's a Little Above $1

FXStreet News FXStreet News 24.01.2022 16:12
Cardano's price action is slipping below the monthly S1 and crucial historical support. Once broken below this vital support, an area of 30% losses could be triggered. Expect bulls to await the FED meeting later this week before engaging in the market. Cardano (ADA) price action is not seeing the turn in sentiment that was expected with the start of a new trading week. Geopolitical talks are ramping up again this Monday regarding Russia, and investors are awaiting details of monetary tightening by the FED later this week, making investors an absent party in the cryptocurrency market for the first few days of the week. As $1.01 is under fire, expect a break below to open the next leg lower towards $0.69, shedding another 30% of the price value for the altcoin. Cardano price sees investors absent in the build up to the FED rate decision Cardano participants seem to be split in half, with only sellers and bears present in the market, while bulls and investors remain on the sideline. The biggest reasons for this are the political rhetoric on Russia that is ramping up again this morning after statements that NATO and the US would send in more military material and troops. Financial markets, meanwhile, are awaiting the outcome of the FED monetary policy meeting Wednesday. These two tail risks keep price action muted or further to the downside, with investors sidelined. ADA this morning is drilling down on the monthly S1 support level and the historical $1.01 level that goes back to March 05. Once this breaks, expect not much support to be present until $0.69 where the monthly S2 support level kicks in at around $0.75, but the most significant historical level is at $0.69 from February 06. Expect buyers to come in there as that would mean that ADA price action is back at 0% on a Year-To-Date (YTD) performance. ADA/USD daily chart As the FED holds the keys for a turn in sentiment short-term, expect a pop higher to unfold very quickly. A knee jerk reaction would wash out many short positions and bring price action quickly back towards $1.40, at the level of the monthly pivot and the green ascending trend line. Should the message from the FED by Wednesday be very dovish and in favour of risk-on sentiment, expect a possible test of $1.68 further to the upside for this week.
Shiba Inu price set to crash by 70% as critical support weakens

Shiba Inu price set to crash by 70% as critical support weakens

FXStreet News FXStreet News 21.01.2022 16:06
Shiba Inu price sees bears drilling down on an important area of support. SHIB price could see a nose dive reaction later today should the US session see accelerated selloffs. A break below the 200-day SMA could hold 70% of losses before plenty of support is found. Shiba Inu (SHIB) price continues to be controlled by bears after the dead-cat bounce in stock markets yesterday evening. With the Nasdaq closing sharply lower, giving up earlier gains, cryptocurrencies are being dragged into a selloff on its coattails, and bearish headwinds persist. Expect a further continuation of downside tests, with $0.00002576, up next, and a break below that opening up the possibility of SHIB price being decimated towards $0.00000655 – a 70% devaluation. Shiba Inu hanging by a thread before price action could collapse Shiba Inu price is in a vortex along with other financial market assets, after the US session saw a180 degree U-turn to the downside. The ASIA PAC and European sessions are also sharply lower and with risk assets being slashed across the board. This is being reflected in cryptocurrencies where a selloff is also taking place. At the moment, SHIB price is drilling down to $0.00002482, a level where the 200-day Simple Moving Average (SMA) and the monthly S1 support level intersect.This should offer plenty of support, but with current market sentiment so negative, it is not a given that investors will want to step in and support the trade. A break lower would see price next pause at $0.00001623, the S2 monthly support. The level of the S2 does not hold any historical relevance, however, making it relatively weak, and the only key level further down looks to be $0.00000607, just above the S3 monthly support, and the starting point of a Fibonacci retracement. Depending on how the US session will unfold, expect this to be on the cards in the days to come if markets enter into correction territory or even into a recession. The result would be SHIB shedding 70% of its market value from where it is currently trading. SHIB/USD daily chart Often enough, markets see an uptick after a gloomy negative day like yesterday. Investors start to come in and pick up interesting assets at a discount, and markets finally get to a point where a revaluation trade is made. This could be the same for Shiba Inu, with the 200-day SMA holding its ground, supporting price action, and a bullish candle starting to form with a test at the 55-day SMA around $0.00003395.
Tesla Stock Price and Forecast: Despite market sell-off, TSLA finished Thursday in the green

Tesla Stock Price and Forecast: Despite market sell-off, TSLA finished Thursday in the green

FXStreet News FXStreet News 21.01.2022 16:06
TSLA finished Thursday in the green, gaining 0.06% to $996.27. Equities had gyrated sharply but fell as the close approached. Tesla stock outperforms as Nasdaq and S&P 500 both fall sharply. Tesla (TSLA) managed to hold onto intraday gains but only just barely on Thursday. Stocks (https://www.fxstreet.com/markets/equities) had opened well and were up some 1% for the main indices at the halfway stage of Thursday, but jitters resurfaced as the finish line approached. Investors began dumping positions, and the main indices closed in the red. The S&P 500 shed 1.1%, the Dow closed 0.89% lower and the Nasdaq closed down the most at 1.34% in the red. Tesla however just held onto a green day, up 0.06%. Given that it is a volatile name and a high beta one, this was a strong outperformance. Tesla Stock News: bearish Bank of America forecast a worrying sign Tesla (TSLA) stock may have held its ground in anticipation of its Q4 earnings, which are due out next week. Bank of America and Piper Sandler fought it out with conflicting analyst reports. Bank of America took a dim view of Tesla's market share forecasts, saying it would drop from 69% to 19% of the EV market due to legacy automakers ramping up EV production. However, Piper Sandler noted that it sees Tesla beating delivery estimates for the year due to factories in Texas and Berlin ramping up production. For now, it appears investors are putting more focus on those delivery numbers and anticipating a strong earnings report. The Bank of America report is more alarming, but it does have a longer term outlook with the market share fall predicted for 2024. Tesla Stock Forecast: $886 is a futher downside target Yesterday's move has kept Tesla above the key short-term pivot at $980, but note that yesterday's high price was stuck at the 9-day moving average and Tesla failed to break through. This gives us more belief in an imminent break of $980. If this level does go, then the move to $886 will likely be quick due to a lack of volume. Tesla (TSLA) chart, daily
Tension Beetween Ukraine And Russia Definetely Shaped News In Recent Days

EUR/USD Forecast: Poor US employment-related data undermines dollar’s demand

FXStreet News FXStreet News 20.01.2022 15:58
EUR/USD Current Price: 1.1351 The EU December Consumer Price Index was confirmed at 5% YoY, as previously estimated. US Initial Jobless Claims unexpectedly jumped to 286K in the week ended January 7. EUR/USD bounces from its intraday low but maintains a neutral stance in the near term. The EUR/USD pair eased from an intraday peak of 1.1368, trading in the 1.1350 area heading into the US opening. The greenback trades mixed across the FX board, weaker against commodity-linked currencies but grinding higher vs its European rivals. Financial markets are quieter on Thursday, with European stocks struggling for direction but stuck around their opening levels. The EU published the December Consumer Price Index, which was confirmed at 5% YoY, while the core reading met the preliminary estimate posting 2.6%. Also, the European Central Bank posted the Accounts of its latest meeting, which showed that policymakers are aware of a possible "higher for longer" inflation scenario. The US published Initial Jobless Claims for the week ended January 7, which unexpectedly jumped to 286K, much worse than the 220K expected. The Philadelphia Fed Manufacturing Survey surged from 15.4 to 23.2 in January, beating expectations. The news put some pressure on the greenback, now recovering from its daily low at 1.1330. EUR/USD short-term technical outlook The EUR/USD pair could resume its decline in the upcoming sessions, as there are no technical signs of buying interest. The daily chart shows that the pair is incapable of advancing beyond a flat 20 SMA for a second consecutive day, while the Momentum indicator heads lower within negative levels. Additionally, the RSI is stable, although around 49. Meanwhile, the pair keeps trading between Fibonacci levels, with immediate support at 1.1305, the 23.6% retracement of the 1.1691/1.1185 slide. The 38.2% retracement is located at 1.1385, providing strong resistance since mid-November. In the near term, and according to the 4-hour chart, the pair maintains a neutral-to-bearish stance, trading below a firmly bearish 20 SMA but between directionless 100 and 200 SMA. Technical indicators, in the meantime, remain within negative levels, the Momentum advancing but the RSI flat at around 44. Support levels: 1.1305 1.1260 1.1220 Resistance levels: 1.1385 1.1440 1.1485
Gamestop (GME) Stock Price and Forecast: Any pop from Activision (ATVI), Microsoft (MSFT) deal?

Gamestop (GME) Stock Price and Forecast: Any pop from Activision (ATVI), Microsoft (MSFT) deal?

FXStreet News FXStreet News 20.01.2022 15:58
GameStop stock fails to ignite despite the gaming sector being in play. GameStop is a bystander retailer, while the big activity is game makers. GME stock remains bearish in our view despite a mid-week short squeeze attempt. GameStop (GME) stock surged in early January but has since slumped consistently. At least some volatility returned to the name. GameStop was the original meme stock but has been suffering of late as investors turn their backs on high growth and high-risk names. GameStop Stock News A pop of 7% on January 7 has been about as good as it gets so far this year for GameStop (GME) holders as the stock exhibits more signs of dwindling interest in the meme stock space. The Wall Street Journal did report on January 7 that GameStop was entering the NFT and cryptocurrency market. This has echoes of another meme stock, AMC. It may smack of desperation or even bad timing given the crypto and NFT craze has also retreated in line with meme stocks. Or it may be a shrewd move. Time will tell, but so far the shares have not given the news much traction. Interest did spike in GME on the back of the mega-deal from Microsoft (MSFT) offering up $69 billion in cash to buy Activision (ATVI), but GameStop is merely a powerless bystander in the acquisition fervor sweeping the gaming sector. GameStop (GME) jumped to the top of WallStreetBets mentions, but this has not seen the correlated share price uptick. In fact, GME shares are down 17% in a week. That takes losses so far for 2022 to nearly 30%. One year on and it does not look like history is going to repeat itself. Video game sales data out yesterday was not exactly comforting with the figure in December down 1% following November's 10% fall. GameStop Stock Forecast The chart is still highly bearish, which was triggered after the double-top formation. This played out and reached our $150 target and then some. Now GME has broken the $118 level, which brings $86 firmly into focus as the next major target. Obviously, $100 along the way will generate headlines, but this is purely psychological. We also note the volume gap from $110 to $70 that could accelerate the move. Bearish unless $160 is broken. GameStop (GME) chart, daily
(WETH) Wrapped Ether Explained. What Is It?

ETH Price (ETH To USD) To Decrease Even More Than Recently?

FXStreet News FXStreet News 19.01.2022 16:02
Ethereum price is still under pressure from the red descending trend line. ETH price is set to break $3,018, bringing the price below $3,000. Expect a further continuation to go hand-in-hand with current financial market sentiment. Ethereum (ETH) price is cracking under the strain and targeting $3,000, with the last line of defense at $3,018 under tremendous pressure from bears. The overall downtrend, dictated by the red descending trend line, and current global market headwinds are only contributing further to downside momentum. Expect a break towards $2,695 before analysts start to speak about a break below $2,000. Ethereum price needs to defend $2,695 to avert a 45% decline Ethereum price is flashing red warning lights all over the place as bears prepare to bomb the $3,000 barrier and price action starts to drill down on the last line of defense at $3,018. Although the area is a historical level and the monthly S1 support level falls in line with this area, it is set to probably break anyway as the mix of the established downtrend and global market headwinds is likely to be too much to bear. The Relative Strength Index (RSI) is close to being oversold; it could still firmly push beyond this level as it already traded around the area back on January 08. The next level of interest for bulls, which they are likely to defend tooth-and-claw, is $2,695, which provided support around September 21 and acted as entry-level for a 75% rally. With the RSI firmly in the oversold area, this should see some pickup in demand on the buy-side. If demand is not there and bulls are reluctant to engage with large demand sizes, expect a break that would see a rapid flood of selling pressure, with the target set to $2,000 as not many elements are in between to provide solid support. ETH/USD daily chart Bulls could sweat out the current market correction and easily make a U-turn once global markets start to return green numbers. A shift in sentiment would easily see Ethereum price bounce off $3,018 and touchback at $3,391. In case ETH should close above that level, it would be set to break out of the red descending trendline, reversing the downtrend, with even more investors and bulls then joining the rally, back up towards $4,000.00.
ATVI and MSFT - Ones To Watch After The Transaction

ATVI and MSFT - Ones To Watch After The Transaction

FXStreet News FXStreet News 19.01.2022 16:02
Activision stock surges as Microsoft gets game. ATVI to be bought for $95 a share or nearly $69 billion in all-cash deal. Microsoft to pay a $3 billion break fee if the deal does not go ahead. Activision (ATVI) shares surged to $90 early yesterday as news broke of a deal with Microsoft (MSFT). The Wall Street Journal appears to have first broken the story, which saw ATVI stock surge straight to $90 or up nearly 40% on the previous close. The story was soon confirmed as Microsoft released a press statement. Activision Stock News Microsoft would pay $95 a share, which puts the deal down at $68.7 billion. The deal is all cash and is due to close in 2023. Activision CEO Bobby Kotick is likely to leave the company in 2023 once the deal closes, according to reports. Activision has been under intense scrutiny after accusations of sexual harassment surfaced. The company has reportedly confirmed the exit of 37 employees since the news broke back in July, and Activision has taken action against 44 other employees, according to the WSJ. The situation with regard to Sony gets interesting as Sony shares dropped sharply yesterday once the rumour was confirmed. Sony was Activision's's largest customer in 2020, accounting for nearly 20% of its revenue. Sony Playstation boss Jim Ryan had expressed "deep concern" at the harrassment allegations and said, "We do not believe their statements of response properly address the situation." Sony now finds itself staring down the possibility that some major Activision titles such as Call of Duty and Candy Crush will no longer be available on the Sony Playstation platform. It appears from the latest reports that Microsoft took advantage of the timing to negotiate the deal. According to Bloomberg, Microsoft senior executives suggested that PlayStation head Phil Spencer contact Activision and make it clear that Microsoft had concerns. Microsoft also wanted to keep an eye on the fallout and see if a potential deal could be done. The company had been on the lookout for acquisitions in the gaming space. Activision Stock Forecast The deal is set at $95 and given that Microsoft has agreed to pay $3 billion if the deal falls through it must be fairly confident of getting it completed. Currently, ATVI shares are trading at $82.53 in Wednesday's premarket. As is usually the case in a merger, the shares of the target company usually trade at a lower price than the takeover price due to risk premium. Occasionally, they can trade above the takeover price if investors believe the offer is too low or they anticipate a bidding war from another pursuer. In this case, there cannot be too many companies with $69 billion in cash waiting in the wings. Activision (ATVI) chart, daily Microsoft Stock News By comparison Microsoft stock fell on the news. The deal will immediately be accretive to earnigs on completion. MSFT shares closed just over 2% lower on Tuesday after the announcement. Technically, the stock looks to be under pressure with $318.23 the bullish pivot and the next key support coming from the 200-day moving average at $292. Microsoft (MSFT) stock chart, daily
Tesla Stock Price and Forecast: Will TSLA stock crash on Tuesday?

Tesla Stock Price and Forecast: Will TSLA stock crash on Tuesday?

FXStreet News FXStreet News 18.01.2022 16:05
Tesla stock performed well on Friday, rallying by 1.75%.Tuesday is likely to see TSLA shares fall sharply.Tesla had some negative weekend press, yields are moving higher.So begins the shortened week due to yesterday's Martin Luther King, Jr. holiday, but it may be no less dramatic. Already it is looking like stocks will be under pressure as yields again rise, and investors begin to nervously adjust their portfolios. Friday has seen some calm descend on markets with the NASDAQ outperforming, which helped Tesla to a solid 1.75% gain, closing at $1,049.61. However, things are about to get ugly on Tuesday. European markets are already in the red, and an early gauge of the futures markets shows the NASDAQ indicating it is headed down nearly 2% and plummeting by 260 points.Tesla Stock NewsThe Wall Street Journal reported over the weekend that a Tesla lawyer asked a law firm it uses, Cooley LLP, to fire an attorney. The attorney in question had previously worked for the SEC and had interviewed Elon Musk and been involved in the SEC probe into Elon Musk. The probe was back in 2018 and surrounded Elon Musk's claim that he had secured funding to take Tesla private. It remains to be seen if this hangs over the stock on Tuesday. The extra day may mean that the story fades from investor attention. However, the stock is going to struggle on Tuesday either way, and added to this is the continued selling from Cathie Wood of ARK Invest. Tesla Stock ForecastThe chart is not clear on Tesla. We have a medium, long-term uptrend, but just recently things have started to look more bearish. The short-term downtrend is highlighted with a series of lower highs and lows. The most recent low at $980 is our pivot point. Above here the risk reward is skewed to more short-term gains, but below it opens up a target of $886. We feel this will likely be tested on Tuesday.While $980 is the short-term pivot, $886 is the medium-term pivot point. A break brings the important 200-day moving average at $804 into view. TSLA has not been trading below its 200-day moving average since back in August of last year. Tesla (TSLA) chart, daily
Polkadot price to present buying opportunity before 35% breakout

Polkadot price to present buying opportunity before 35% breakout

FXStreet News FXStreet News 18.01.2022 16:05
Polkadot's price action attempted to break above $30 but stopped in its tracks. DOT price action is now on the back foot again, with investors waiting for the right moment to re-enter. The green ascending trend line that currently comes in around $22.50 would be a perfect entry point for a bounce towards $30. Polkadot price is retreading water as bulls cannot defend $25.19, and price returns to the lower levels of 2022. Investors have no incentive for the moment for any aggressive entries as global market sentiment is weighing on price action. Expect investors to hold for both a shift in sentiment and a test on the longer-term green ascending trend line that currently quotes around $22.36 before popping back up towards $30. Polkadot price action needs to give a little to gain big Polkadot price had issues reaching $30 as bulls were stopped in their tracks even before hitting $29.12, a less critical resistance level. Since then bears have used the turn in market sentiment to risk-off, to enter DOT price and run prices to the downside. But bulls are not far away and are patiently watching to enter – possibly at the green ascending trend line – for a bounce. That longer-term green ascending trend line has proven its importance in the past on multiple occasions throughout 2021. Even a break below it would not be so bad, as around $20.51 support kicks in from a historical support level and the monthly S1 support level. These comprise two solid entry levels for bulls to engage in price action to be part of the market when sentiment reverts to risk on and pushes higher. DOT/USD daily chart Although markets are on the back foot, long equities and risk-on are looming beneath the surface and could quickly emerge. This would add to tailwinds in cryptocurrencies and see a quick reversal in price action. This time expect the $30 to be tested, as the monthly pivot and the 200-day Simple Moving Average will trigger profit-taking. With the uptick, the 55-day SMA could be crossing back above the 200-day SMA, making it a golden cross, a strong signal of more upside for traders, which could ramp up price action even more, towards $37.
(TSLA) Tesla Stock with +1.75% There are many factors which can influence its price.

(TSLA) Tesla Stock with +1.75% There are many factors which can influence its price.

FXStreet News FXStreet News 17.01.2022 15:56
Tesla gains on Friday as Nasdaq finished in the green. TSLA stock closes at $1049.61 for a gain of 1.75%. Tesla shares are still in a downtrend but holding above the key pivot. Tesla (TSLA) returned to the green on Friday as the NASDAQ took the crown for best performing index, while the Dow suffered a bank burnout. Bank stocks reported on Friday in the form of Citigroup (C), JPMorgan (JPM) and Wells Fargo (WFC), and the results were decidedly mixed. Citigroup and JPMorgan fell heavily and dragged the Dow down with them. Yields though remained under control, allowing the Nasdaq to breathe lighter and make some headway after recent losses. This helped Tesla back into the green, but the stock remains choppy and sideways in motion. Tesla Stock News The Wall Street Journal reported over the weekend that a Tesla lawyer asked Cooley LLP, an international law firm, to fire one of its lawyers who had previously worked at the US SEC. The lawyer in question had supposedly interviewed Elon Musk in the SEC investigation in 2018 into Musk after he claimed on Twitter that he had gotten funding in place to take Tesla private. The SEC investigation led to Elon Musk and Tesla each paying $20 million fines. According to the WSJ article, a Tesla lawyer asked Cooley LLP to fire the attorney late last year, but Cooley did not follow through on the request. Tesla has used alternative law firms on several cases since December. Tesla and Cooley LLP have not yet responded to CNBC requests for comment. This may add to pressure on the stock despite Friday's rebound. Earlier in the week, investors and Cybertruck fans were left disappointed with a further delay to the truck's production timeline release, which has now been pushed to 2023. Tesla Stock Forecast Irrespective of the news, we have an indecisive chart here. TSLA stock's most recent high was a lower one than the previous and has put in a series of lower lows. This means it is currently in a short-term downtrend. $980 is the key pivot that will signify more losses. Breaking $980 makes the target $886. Holding above $980, and the target is $1,200. However, we have a declining Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD). The MACD has also crossed into negative territory. Tesla chart, daily
(BTC) Bitcoin with a rise, (ETH) Ether gains as well, (XRP) Ripple probably doesn't feel that well today

(BTC) Bitcoin with a rise, (ETH) Ether gains as well, (XRP) Ripple probably doesn't feel that well today

FXStreet News FXStreet News 17.01.2022 15:56
Bitcoin price rejuvenates its uptrend as it bounces off a 4-hour demand zone, extending from $41,843 to $42,707. Ethereum price produces a higher high, signaling a continuation of its uptrend. Ripple price revisits the demand zone, ranging from $0.694 to $0.753, as bulls fail to kick-start a rally. Bitcoin price reveals a bullish outlook albeit a slow one, providing altcoins with an opportunity to run free. The past week is a testament to the recent gains witnessed among many altcoins. While Ethereum continues to remain bullish, Ripple struggles to hold on. Bitcoin price pushes forward Bitcoin price produced a lower low after the January 13 swing high at $44,439 but managed to set a higher low, keeping the uptrend somewhat intact. As BTC bounces off a 4-hour demand zone, extending from $41,843 to $42,707, investors can expect the pioneer crypto to make a run for the previous week’s high at $47,609. This hurdle is present below the 200-day Simple Moving Average (SMA) At $48,590. BTC’s upside potential, though, at least in the short-term, seems to be capped at the aforementioned level. BTC/USD 4-hour chart If Bitcoin price fails to see a bullish reaction off of the $41,843 to $42,707 demand zone, it will indicate weakness among buyers. This lack of interest could allow bears to take control and push BTC down to $41,762 – a four-hour candlestick close below there will then invalidate the bullish thesis. This development could lead Bitcoin price lower, to retest the $39,87 support level. Ethereum price shows strength Ethereum price is in a similar situation to Bitcoin as it produced a higher low but failed to set up a higher high. As long as BTC remains bullish, ETH will follow suit. Market participants can, therefore, expect the smart contract token to make a run for the 200-day SMA at $3,475. Clearing this hurdle will open the path for Ethereum price to revisit the daily supply zone, extending from $3,675 to $3,846. The upper limit of this hurdle coincides with the 50-day SMA, indicating that a further uptrend is unlikely. ETH/USD 4-hour chart Regardless of the optimistic scenario, Ethereum price needs to hold above the weekly support level at $3,061 to see a meaningful uptrend. A breakdown of this foothold will remove confidence and instill doubt among buyers. A four-hour candlestick close below the demand zone’s lower limit at $2,927, however, will create a lower low, invalidating the bullish thesis. Ethereum price finds stable support as ETH targets $4,000 Ripple price lacks motivation Ripple price has been teetering on a daily demand zone, stretching from $0.693 to $0.753 since the December 4, 2021 crash. One can assume that this barrier has been weakening. Due to its correlation with BTC, however, XRP price is likely to rally 12% to retest the 50-day SMA at $0.844. The weakened demand zone could face destruction by a short-term bearish momentum, however, so investors should exercise caution with the remittance token. In some cases, Ripple price could overcome the immediate hurdle and make a run for the 200-day SMA at $0.954. XRP/USD 1-day chart On the other hand, if Ripple price produces a daily candlestick close below $0.693, it will create a lower low, invalidating the bullish thesis. This development could trigger a crash, where XRP price could revisit the $0.604 support level. XRP price looks bullish, targets $1
Awaiting US CPI And Speaking Of Disney and Uber. SEK And PLN As Central Banks Moves

US Retail Sales Analysis: Downfall? Not so fast, 2018 tells a different story, dollar to shrug it off

FXStreet News FXStreet News 14.01.2022 15:58
US Retail Sales have tumbled by 2.3% in December, far worse than expected. Worries about Omicron and rising inflation do not tell the full story. Back in 2018, sales collapsed by 2.8%, in what seems like a shift in behavior. The Fed and the dollar will likely move on, focusing on inflation and employment. The 1970s and stagflation are back in a bad way – that is how some may have reacted to the fall in US Retail Sales in December. Consumption tumbled by 2.3%, far worse than expected, while the Control Group – the core of the core – suffered a deeper plunge of 3.1%. Stagflation is a portmanteau word combining inflation and stagnation. In the 1970s, higher prices caused people to buy less, dragging the economy into stagnation. As prices rose by 7% YoY in December, that narrative may now emerge. Another explanation is that the Omicron variant caused people to refrain from the activity. After all, thousands of flights were canceled due to staff shortages, and other economic activities may have ground to a halt as well. Both theories are logical explanations, but only tell part of the story. Between the pandemic and inflation lie supply-chain issues, which were magnified by warnings of empty shelves or delays to shipments. Consumers rushed to the shops – online and offline – earlier in the autumn, and gobbled up un gifts. That means an early Christmas party and a hangover when trees were put in their place. A look into the not-so-distance history reveals another picture. Back in December 2018 – without any pandemic or other disruptions – retail sales crashed by 2.8%. That is worse than the current fall. While such slides did not happen in 2019, there seems to be a shift in consumer behavior that is not fully captured by the models. Black Friday comes early and is accompanied by China's "Singles' Day" sales on November 11. Seasonal adjustments have yet to catch up with changing consumer preferences. Market implications The devastating news from an area which represents 70% of the economy is weighing on stocks, but they were in the red beforehand as well. The dollar is benefiting from safe-haven flows, but only just. For the Federal Reserve, it is just one data point that does not represent a struggling economy, at least not yet. Trends in inflation and unemployment, the bank's mandates, are far more important. For stocks, company earnings are now in focus, and for the dollar, inflation and speculation on the Fed's reduction of its balance sheet matter more. These factors cold be dollar positive – alongside profit-taking on dollar shorts.