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Cryptocurrencies slide after hawkish FOMC – Crypto News

Bitcoin and Ethereum set for a losing week Hawkish Fed aids dollar and hurts risky assets SEC outlines timeline for ether ETF launch   Roller coaster ride The last few days have been eventful for cryptocurrencies, with both Bitcoin and Ethereum easing from their recent highs. The stronger-than-expected NFP report on last Friday was the main catalyst behind Bitcoin’s decline heading into this week, while on Monday spot Bitcoin ETFs ended their streak of 19 consecutive days of n

Technical Analysis – EURUSD in a dramatic downfall

EURUSD corrects sharply down to 1½-month low; gives up previous gains Technical signals remain bearish; support expected near 1.0650-1.0660   EURUSD continued to sink for the second consecutive day on Friday, reversing entirely its post-US CPI upturn and trimming a significant portion of its April-June uptrend to trade at a 1½-month low of 1.0670. The sharp selling started after the bulls failed to climb above the support-turned-resistance trendline at 1.0850 and the 200-period si
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Technical Analysis – GBPUSD meets steep ascending line

GBPUSD is bullish in short-term and neutral in long-term Stochastics and RSI indicate negative pressure GBPUSD is flirting with the steep short-term uptrend line around 1.2730, easing beneath the 20-day simple moving average (SMA). The technical oscillators are showing signs of more downside pressure. The stochastic is creating a bearish crossover within its %K and %D lines, while the RSI is falling near the neutral threshold of 50. If the bears take the upper hand, the market may c
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Week Ahead – RBA, SNB and BoE next to decide, CPI and PMI data also on tap

It will be another central-bank-heavy week with the RBA, SNB and BoE None are expected to cut but there’s room for surprises Retail sales will be the highlight in the United States Plenty of other data also on the way, including flash PMIs and UK CPI RBA is in a pickle The Reserve Bank of Australia will keep the central bank theme going on Tuesday when it meets for its June policy decision.
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Technical Analysis – GBPJPY bounces to 14-year high; eyes on 201 resistance

GBPJPY unlocks a new high after the Bank of Japan defies expectations of reduced bond purchases Technical signs are positive, but the bulls need to breach the 201 obstacle   GBPJPY stepped on the long-term ascending line at 200 and jumped to a new 14-year high of 201.59 in the BoJ aftermath on Friday with scope to continue its long-term positive trend.
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Market Comment – Dollar higher, yen under pressure but stocks feel good

Yen suffers from BoJ's inactivity Dollar recovers from Wednesday’s underperformance US stock indices’ euphoria continues BoJ meeting held no surprises The yen is under pressure again today as the Bank of Japan kept its interest rate unchanged and decided to trim its bond buying programme but postponed the announcement of the new size of bond purchases until the July meeting.
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Stock markets and football sometimes mix well

The 2024 European Football Championship starts today History points to strong stock market performance for the host country Major sporting events held in the eurozone could boost growth ECB to monitor consumer sentiment more closely With the market digesting the latest developments, it is time for football on both sides of the Atlantic Ocean.
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Technical Analysis – USDCAD remains bullish with weak momentum

USDCAD fails to extend above 1.3785 Stochastics suggest bearish retracement USDCAD is still developing above the short-term simple moving averages (SMAs), which are ready for a bullish crossover, and above the medium-term uptrend line. Technically, the MACD oscillator is moving sideways above the zero level; however, the stochastic oscillator is indicating a negative movement as it posted a bearish cross with %K and %D lines in the overbought region.
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Apple breaks long-term range to mark record high within 200 territory Short-term steep rally could take a breather as overbought signals strengthen   On Tuesday, Apple unveiled its own AI tools, propelling its stock to uncharted territory. Weaker-than-expected US CPI inflation data added fresh impetus to the stock on Wednesday, extending the rally above the resistance line, which connects the 2021 and 2023 highs, and towards an all-time high of 220. The stock’s gains were trimme
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Midweek Technical Look – Gold, GBPUSD, EURJPY

Gold trims gains after FOMC rate decision; at risk of bearish trend reversal below 2,290 GBPUSD closes below 1.2800 barrier despite hitting 3-month high EURJPY exhibits favorable attitude; next resistance at 170.78
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Technical Analysis – USDCHF meets strong support at 200-day SMA

 USDCHF trades within narrow range RSI indicates an upside movement USDCHF has been in a tight range over the last ten days with a strong support level at the 200-day simple moving average (SMA) at 0.8895. Currently, the market is standing beneath the ascending trend line and the short-term SMAs, signaling more losses. The MACD is holding near its trigger line and beneath the zero level; however, the RSI is ticking north below the 50 level.
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Can stocks keep defying gravity? – Stock Markets

US stock indices sail towards successive record highs Hawkish Fed doesn’t scare bulls as volatility remains inexistent Valuations are historically stretched but earnings keep growing   High after high All major US indices are having an astonishing year, recording consecutive all-time highs as the economy seems more and more likely to achieve a soft-landing.
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Technical Analysis – WTI crude oil fails to improve upside move

WTI crude finds tough obstacle at 200-day SMA Technical oscillators head south WTI crude oil returned above the medium-term ascending trend line, hitting the strong 200-day simple moving average (SMA) at 79.36 after bouncing off the four-month low of 72.46. The technical oscillators are indicating a negative retracement in the short-term view.
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Market Comment – Fed stops dollar’s CPI-related bleed, BoJ next

Dollar tumbles after weaker-than-expected CPI data Recovers somewhat after Fed signals one rate cut BoJ decision looms as investors bet on July hike US CPI data propels Wall Street to fresh records Inflation slows, Fed sees one rate cut in 2024 After a turbulent session, the US dollar finished lower against all its major counterparts on Wednesday.
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Technical Analysis – USDJPY holds within narrow range in near term

USDJPY remains below 157.70 Uptrend line acts as strong support Momentum oscillators show contradicting signs USDJPY is still developing below the 157.70 resistance level and well above the medium-term ascending trend line, failing to have a notable movement after the US CPI data and the Fed decision on Wednesday. The technical oscillators are showing some mixed signals.
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JP 225 index has been rangebound in the past month But has violated 50-day SMA and has advanced in latest sessions Momentum indicators are skewed to the upside The JP 225 index (cash) has been trading without clear direction since early May, fluctuating around its 50-day simple moving average (SMA). In the near term, the price broke above its 50-day simple moving average (SMA), with the short-term oscillators indicating strengthening bullish momentum.
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Technical Analysis – EURUSD recoups losses and bearish gap after US CPI

EURUSD posts gains above 1.0800 RSI crosses above 50 level EURUSD is extending its rebound off 1.0740 after US inflation data that was lower than expected. The pair jumped above the 50- and the 200-day simple moving averages (SMAs) as well as the 1.0800 round number. Technically, the RSI indicator is currently crossing the 50 level to the upside; however, the MACD is losing momentum beneath its trigger line and near the zero level.
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Technical Analysis – US dollar index buyers keep off but still present

US dollar index retreats despite bullish breakout Stochastics move down; MACD holds near zero level The US dollar index had an aggressive bullish rally after the bounce off the medium-term ascending trend line, surpassing all the moving average lines and the 105.10 barrier but is currently losing some ground ahead of the FOMC meeting today.
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After Macron’s election gamble, is political risk a new headwind for the euro?

Snap elections in France spur panic in euro and French stock market Doubts about Germany’s coalition add to euro’s woes Is political instability about to become a persistent risk for the euro? Europe steers to the right Financial markets don’t usually pay so much attention to elections for the European Parliament, as national governments are often seen as the bigger force in setting EU policy.
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US 500 index creates fresh all-time high Key levels to watch the next round numbers RSI and stochastics near overbought territories The US 500 (cash) index extended its bullish move above the 5,350.15 level and is currently trading near the fresh record peak of 5.386.97. The index has also increased distance above its positively sloped moving average lines, indicating that the recent uptrend might hold for longer.



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