Beijing Tries to Convey Message of Confidence, Markets Not Impressed

DXY: For DXY, the potential direction is bearish, despite the overall bullish momentum of the chart. There’s a chance of a bearish reaction off the pivot level, leading to a drop towards the 1st support. The pivot at 103.70 acts as pullback support, coinciding with the 50% Fibonacci Retracement, indicating its significance as a level […]

Summary United States: Little Love in January Data Economic data were stuck in the doldrums this week, highlighted by a hot January CPI print. The out-of-consensus start to the year for economic data continued with a slip in retail sales and industrial production followed by a startling 14.8% drop in housing starts during January. Next […]

Market Picture Bitcoin’s closing price on Tuesday became the lowest since late February, confirming the downward trend and falling under March and April support and the psychologically important round level. Bitcoin ended April down 15.5% to $59.9K, after six months of gains out of the last seven (January BTC ended virtually unchanged). Technical downside targets […]