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Weekly trading signals for major cryptos - DECEMBER 17th

 

Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Ripple (XRP), Cardano (ADA), Stellar (XLM), EOS, Bitcoin SV (BCHSV), Tron (TRX), Litecoin (LTC)

BTC/USD

Dominant trend: Bearish


Supply zone: $5000, $6000, $7000
Demand zone: $2000, $1500, $1000

 

BTC/USD continues in a bearish trend in the long-term outlook. After breaking the predicted target at $3377 in the demand area of last week analysis on 13th December, the strong bearish pressure further pushed the cryptocurrency down to a new lower low at $3215 on 15th December ending the week in a bullish doji.

 

This suggests brief bullish pullback may be expected in the days ahead. The bears’ return may be around the 10-EMA, after exhaustion. Moreover, the price remains below the two EMAs, the stochastic oscillator is in the oversold region at 6%, and its signal points down. These suggest further downward movement in BTC/USD. $3000 in the demand area may be the bears targeted lower low.

 

ETH/USD

Dominant trend: Bearish


Supply zones: $250, $300, $350
Demand zones: $50, $30, $10

 

The week just ended opened bullish on 9th December as ETH/USD was up at $102.50 in the supply area, but the bulls later lost momentum as the day closed as an inverted hammer. This was a signal that the bears were back. $85.94 was the initial low but increased momentum dropped ETH/USD down to $83.17 in the demand area on 15th December ending the week with a bullish hammer.

 

With a possible trend reversal, the bulls are gradually staging a return. ETH/USD was up at $91.46 in the supply area earlier today. Further upward movement was rejected by the 10-EMA which acted as a strong resistance. The bears still remain in control of the market and may return and push price further down south. With the price below the two EMAs and the stochastic oscillator signal at 8% in the oversold region, this suggests downward momentum. $50.00 in the demand area is still on the card as the trading week commences.

 

For more signals: https://www.cryptocomparer.com/news/bitcoin-news/bitcoin-btc-ethereum-eth-monero-xmr-ripple-xrp-cardano-ada-stellar-xlm-eos-bitcoin-sv-bchsv-tron-trx-litecoin-ltc-weekly-trading-signals-for-december-17th/

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Ethereum (ETH) Daily Price Forecast – December 19

ETH/USD Medium-term Trend: Bullish

Resistance Levels: $240, $250, $280
Support Levels: $100, $80, $60

Yesterday, December 18, the price of Ethereum was in a sideways trend. On December 17, the ETH price closed at a price of $98.81 after a bullish trend. After that, the crypto’s price went into a sideways trend after facing resistance at the $98 price level. The crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.

The crypto’s price broke the resistance at $100 price level and it is approaching the price at $105. On the other hand, if price breaks below the 12-day EMA and the 26-day EMA, the crypto will resume its downward trend. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the price of ETH is above the 12-day EMA and the 26-day EMA indicating that price is in the bullish trend zone.

ETH/USD Short-term Trend: Bullish

On the 1-hour chart, the crypto's price was in a bullish trend. The price of Ethereum reached the high of $99.20 and commenced a range bound movement. The crypto’s price is fluctuating below and above the 12-day EMA.

If price breaks below the 12-day EMA and 26-day EMA, the crypto will resume its downtrend. On the upside, the crypto’s price has the tendency to rise above the EMAs but must break the resistance to reach other levels of prices.

 

 

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

                                                                                                                Top of Form

                           

Source: www.bitcoinexchangeguide.com

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Weekly trading signals for major cryptos - DECEMBER 10th

 

Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Ripple (XRP), Cardano (ADA), Stellar (XLM), EOS, Bitcoin SV (BCHSV), Tron (TRX), Litecoin (LTC)

BTC/USD

Dominant trend: Bearish


Supply zone: $6400, $7200, $8000
Demand zone: $2500, $2000, $1500

The market remains under the control of the bears on the long-term outlook. Having achieved the predicted target last week at $3377 on 7th December and a further drop to $3277 in the demand area, the bears seems to have a brief rest. Exhaustion at the demand area denoted by wicks coupled with hammer signalled the bulls gradual return.

BTC/USD was up at $3800 on 8th December, but a further upward movement was rejected around the 10-EMA. The cryptocurrency provides a down-trending market scenario with the formation of lower highs and lower lows.

With the price below the two EMAs that are fanned apart which suggest strength in the context of the trend and in this case the downtrend, BTCUSD may be set for a new lower low as the bears’ pressure becomes much stronger.

ETH/USD

Dominant trend: Bearish


Supply zones: $200, $220, $240
Demand zones: $50, $40, $30

The bears’ pressure was sustained in the past week as Ethereum went further down to $83.00 in the demand area on 7th December closing the week lower than the previous at $111.52. Rejection to further downward price movement was obvious as the bulls return this was signalled by the two hammers formation a strong indication of trend reversal.

$102.50 in the supply area was retested as the new week began on 9th December.

This flag formed by the bullish pressure was necessary for the market correction before the downtrend continuation. With the price below the EMAs an indication of strong bears pressure, $53.93 the 261.8 fib level in the demand area may be tested in days ahead.

 

For more signals: https://www.cryptocomparer.com/news/bitcoin-news/bitcoin-btc-ethereum-eth-monero-xmr-ripple-xrp-cardano-ada-stellar-xlm-eos-bitcoin-cash-sv-bchsv-tron-trx-litecoin-ltc-weekly-trading-signals-for-december-10th/

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Litecoin (LTC) Daily Price Forecast – December 27

LTC/USD Medium-term Trend: Ranging

·         Resistance Levels: $66, $68, $70

·         Support Levels: $30, $28, $26

Yesterday, December 26, the price of Litecoin was in a sideways trend. In the last 24 hours, there had been no significant price movement as price ranges above the $30 price level. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.

As the crypto ranges above the $30 price level, there is the likelihood of a price breakout. If the crypto’s price breaks below the $30 price level, the price of Litecoin will find support at the $24 price level. On the other hand, if price breaks upward, the crypto will reach the high of $37. Meanwhile, the stochastic indicator out of  the oversold region above the 20% range which indicates that Litecoin is in a bullish momentum and a buy signal.

LTC/USD Short-term Trend: Bearish

On the 1-hour chart, the price of Litecoin is in a bearish trend. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates price is in a  bearish trend zone. The crypto has the tendency to fall.

Similarly, the stochastic indicator was out of the overbought region and it is below the 20% range which indicates that the crypto is in a bullish momentum and a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

 

ource: https://bitcoinexchangeguide.com

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Bitcoin (BTC) Long Term Price Forecast- December 29

BTC/USD Long-term Trend: Bearish

·         Resistance levels: $7,200, $7,400, $7,600

·         Support levels: $3,900, $3,700, $3,500

The price of Bitcoin was in a bullish trend in the last week of December 2018. The crypto has an opening balance of $4,038.50 but traded and had closing price of $4,023 as at the time of writing. In the month of December, Bitcoin lost 0.38% of its capitalization.

In December, neither the bulls nor the bears have control over the price of Bitcoin. The crypto’s price is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone .

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Meanwhile, the price of Bitcoin is likely to fall as the price is below the 12-day EMA and the 26-day EMA. In addition, the stochastic is in the oversold region but below the 20% range. This indicates that the price of Bitcoin is in a bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

Source: https://bitcoinexchangeguide.com

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Weekly trading signals for major cryptos - JANUARY 3RD

 

Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Ripple (XRP), Cardano (ADA), Stellar (XLM), EOS, Bitcoin SV (BCHSV), Tron (TRX), Litecoin (LTC)

 

BTC/USD

Dominant trend: Ranging


Supply zone: $6000, $7000, $8000
Demand zone: $2000, $1500, $1000

BTC/USD remained in a range-bound market in the long-term outlook. The bulls attempted to rally on 28th December that took the cryptocurrency to $4095 in the supply area but lacked the momentum for continuity hence the bears returned. BTC/USD closed the year at $3771.

The new year opens with a break out from the 10-EMA as the cryptocurrency rose to $4083 in the supply area within the range.

BTC/USD is in consolidation and trading between $4370 in the upper supply area and at $3470 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

 

ETH/USD

Dominant trend: Bullish


Supply zones: $250, $300, $350
Demand zones: $50, $30, $10

The rejection of the downward price movement and subsequent formation of a bullish engulfing candle on 28th December confirm the uptrend. ETH closed the year above the $100.00 as the bulls pushed the price up $153.00 in the supply are on 31st December.

The new saw the bull sustaining the momentum after the bullish railroad on 1st January. $163.67 was retested yesterday as the bulls continue their journey up in the long-term.

 

Price stands above the two EMAs crossover with stochastic oscillator signal points up at 76% in the overbought region which suggests upward momentum in the price of the cryptocurrency in the long-term.


$174.00 in the supply area remains a target for the bulls in the long-term.

 

For more signals: https://www.cryptocomparer.com/news/bitcoin-news/bitcoin-btc-ethereum-eth-monero-xmr-ripple-xrp-cardano-ada-stellar-xlm-eos-bitcoin-sv-bchsv-tron-trx-litecoin-ltc-weekly-trading-signals-for-january-3rd/

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Weekly trading signals for major cryptos - JANUARY 8TH

 

Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Ripple (XRP), Cardano (ADA), Stellar (XLM), EOS, Bitcoin SV (BCHSV), Tron (TRX), Litecoin (LTC)

BTC/USD

Dominant trend: Ranging


Supply zone: $6000, $7000, $8000
Demand zone: $2000, $1500, $1000

BTC/USD continues in a range-bound market in the long-term outlook. The new year rally was shortlived as the bears stage a return as the price drops below the 10EMA. BTC/USD dropped to $3850 in the demand area on 4th January closing a bullish spinning top and an indication of bulls gradual return.

The new trading week started on a bullish note with an engulfing candle as BTC/USD rose to $4218 in the supply area on 6th January. With the stochastic oscillator signal pointing up at 51% and price above the 10-EMA, the bulls may sustain the momentum within the rage in days ahead.

 

BTC/USD is in consolidation and trading between $4370 in the upper supply area and at $3470 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

 

ETH/USD

Dominant trend: Bullish


Supply zones: $250, $300, $350
Demand zones: $50, $30, $10

The bullish exhaustion denoted by wicks on the candle at the $165.00 are signals that the bears are in for a minor retracement despite a bullish overall outlook.

The bullish spinning top that opens the trading week on 5th January after pushing ETH/USD to $165.86 in the supply area failed to sustain the bullish momentum as the bears took over the market.

The bearish momentum may increase leading to a further drop in the price of the cryptocurrency within the two EMAs before in the coming days, but the bulls will stage a comeback to attain the bulls target at $174.00 in the supply area.

 

For more signals: https://www.cryptocomparer.com/news/bitcoin-news/bitcoin-btc-ethereum-eth-monero-xmr-ripple-xrp-cardano-ada-stellar-xlm-eos-bitcoin-sv-bchsv-tron-trx-litecoin-ltc-weekly-trading-signals-for-january-8th/

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Ethereum (ETH) Daily Price Forecast – January 10

ETH/USD Medium-term Trend: Ranging

·         Resistance Levels: $240, $250, $280

·         Support Levels: $150, $130, $110

Yesterday, January 9, the price of Ethereum was in the bearish trend zone. The crypto’s price had been trading above the $150 price level in the last four days. It was assumed that the bears would break the $150 price level since it was in the bearish trend zone.

Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. Also, the stochastic indicator is above the 20% range which indicates that Ethereum is in a bullish momentum and a buy signal. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.

ETH/USD Short-term Trend: Ranging

On the 1-hour chart, the crypto's price is in the bearish trend zone. Today, a bullish candlestick broke above the EMA but price pulled back. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.

The Stochastic is out of the overbought region but above the 20% range indicating that Ethereum is in a bearish momentum and a sell signal. The MACD line and the signal line are below the zero line which indicates a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

                                                                                                                Top of Form

                           

Source: www.bitcoinexchangeguide.com

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Ethereum (ETH) Daily Price Forecast – January 10

ETH/USD Medium-term Trend: Ranging

·         Resistance Levels: $240, $250, $280

·         Support Levels: $150, $130, $110

Yesterday, January 9, the price of Ethereum was in the bearish trend zone. The crypto’s price had been trading above the $150 price level in the last four days. It was assumed that the bears would break the $150 price level since it was in the bearish trend zone.

Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. Also, the stochastic indicator is above the 20% range which indicates that Ethereum is in a bullish momentum and a buy signal. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.

ETH/USD Short-term Trend: Ranging

On the 1-hour chart, the crypto's price is in the bearish trend zone. Today, a bullish candlestick broke above the EMA but price pulled back. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.

The Stochastic is out of the overbought region but above the 20% range indicating that Ethereum is in a bearish momentum and a sell signal. The MACD line and the signal line are below the zero line which indicates a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

                           

Source: www.bitcoinexchangeguide.com

Edited by BitcoinExchangeGuide

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Litecoin (LTC) Long Term Price Forecast – January 12

LTC/USD Long-term Trend: Bearish

·         Resistance Levels: $60, $70, $80

·         Support levels: $30, $20, $10

The price of Litecoin had been in a bullish trend since December 16, 2018. On January 1, the crypto’s opening price had risen to the high of $30.99. On January 8, the crypto’s price had reached the high of $40 but the bulls could not break the resistance at that level. On January 10, the bears broke the 12-day EMA and the 26-day EMA to the low of $33 price level.

However, from the weekly chart or the daily chart, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. If the bearish pressure continues, the crypto will fall to the low of $30. However, if the bears break this level, then the crypto will find support at the $23 or $28 price level.

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The stochastic indicator is out of the oversold region but above the 60% range indicating that the price of Litecoin is in a bullish momentum and a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

 

Source: https://bitcoinexchangeguide.com

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Weekly trading signals for major cryptos - JANUARY 14TH

                    

Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Ripple (XRP), Cardano (ADA), Stellar (XLM), EOS, Bitcoin SV (BCHSV), Tron (TRX), Litecoin (LTC)

 

BTC/USD

Dominant trend: Ranging
Supply zone: $6000, $7000, $8000
Demand zone: $2000, $1500, $1000

BTC/USD remains in a range-bound market in the long-term outlook. After a push to $4218 in the supply area, the bulls lost momentum and a gradual drop in price happened until the 10th January when the bears’ takeover of the range was confirmed with a large bearish engulfing candle. BTC/USD dropped to $3686 in the supply area.

Momentum to the downside is strong as confirmed by the stochastic oscillator signal pointing down at 12% in the oversold region. BTC/USD is already down at $3850 in the demand area in the first day of the trading week as the journey toward the lower price continues.

BTC/USD is in consolidation and trading between $4370 in the upper supply area and at $3470 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

 

ETH/USD

Dominant trend: Bearish
Supply zones: $250, $300, $350
Demand zones: $50, $30, $10

Several wicks of the daily candle at the $165.00 area confirmed it as a key supply area. The wicks signal to rejection for upward price movement and bullish exhaustion with the bears making an inroad to the market.

Confirmation to the bears’ full takeover of the market came with a large bearish engulfing candle on 10th January.

ETH/USD was down to $125.71 in the demand area with a break of the two EMAs. The journey to the low attained on 14th December at $83.00 in the demand area, may have started because the week opened bearish with the Ethereum already down to $117.07.

 

For more signals: https://www.cryptocomparer.com/news/bitcoin-news/bitcoin-btc-ethereum-eth-monero-xmr-ripple-xrp-cardano-ada-stellar-xlm-eos-bitcoin-sv-bchsv-tron-trx-litecoin-ltc-weekly-trading-signals-for-january-8th/

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Weekly trading signals for major cryptos - JANUARY 14TH

                    

Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Ripple (XRP), Cardano (ADA), Stellar (XLM), EOS, Bitcoin SV (BCHSV), Tron (TRX), Litecoin (LTC)

BTC/USD

Dominant trend: Ranging
Supply zone: $6000, $7000, $8000
Demand zone: $2000, $1500, $1000

BTC/USD remains in a range-bound market in the long-term outlook. After a push to $4218 in the supply area, the bulls lost momentum and a gradual drop in price happened until the 10th January when the bears’ takeover of the range was confirmed with a large bearish engulfing candle. BTC/USD dropped to $3686 in the supply area.

Momentum to the downside is strong as confirmed by the stochastic oscillator signal pointing down at 12% in the oversold region. BTC/USD is already down at $3850 in the demand area in the first day of the trading week as the journey toward the lower price continues.

BTC/USD is in consolidation and trading between $4370 in the upper supply area and at $3470 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

ETH/USD

Dominant trend: Bearish
Supply zones: $250, $300, $350
Demand zones: $50, $30, $10

Several wicks of the daily candle at the $165.00 area confirmed it as a key supply area. The wicks signal to rejection for upward price movement and bullish exhaustion with the bears making an inroad to the market.

Confirmation to the bears’ full takeover of the market came with a large bearish engulfing candle on 10th January.

ETH/USD was down to $125.71 in the demand area with a break of the two EMAs. The journey to the low attained on 14th December at $83.00 in the demand area, may have started because the week opened bearish with the Ethereum already down to $117.07.

 

For more signals: https://www.cryptocomparer.com/news/bitcoin-news/bitcoin-btc-ethereum-eth-monero-xmr-ripple-xrp-cardano-ada-stellar-xlm-eos-bitcoin-sv-bchsv-tron-trx-litecoin-ltc-weekly-trading-signals-for-january-8th/

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Bitcoin (BTC) Long Term Price Forecast- January 19

BTC/USD Long-term Trend: Bearish

·         Resistance levels: $7,200, $7,400, $7,600

·         Support levels: $3,700, $3,600, $3,500

The BTC/USD pair is now in a bearish trend zone. On December 14, the BTC price reached its low at the $3,200 price level. On December 24, the crypto traded and reached the high of $4,400 price level. The price of Bitcoin had been range bound between the levels of $3,200 and $4,400 in the last one month. Presently, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that Bitcoin is likely to fall. The BTC price is currently trading above the $3,700 price level.

Nevertheless, if the bears break below the $3,500 price level, the crypto is likely to find support at the $3,200 price level. On the upside, the bulls will first break the 12-day EMA and the 26-day EMA to resume its uptrend movement. Meanwhile, the stochastic is in the oversold region but above the 60% range. This indicates that the price of Bitcoin is in a bullish momentum and a buy signal. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.

 

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

Source: https://bitcoinexchangeguide.com

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Weekly trading signals for major cryptos - JANUARY 21TH

                    

Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Ripple (XRP), Cardano (ADA), Stellar (XLM), EOS, Bitcoin SV (BCHSV), Tron (TRX), Litecoin (LTC)

BTC/USD

Dominant trend: Ranging
Supply zone: $6000, $7000, $8000
Demand zone: $2000, $1500, $1000

BTC/USD continues in a range-bound market in the long-term outlook. The bears had a momentary hold of the range as BTC/USD made a low of $3570 while the bulls took the cryptocurrency initially to a high of $3799 and later to $3882 as the week ended on19th January.

Momentum to the downside remains strong. With the price below the 10-EMA and the stochastic oscillator in the oversold region and its signal pointing down at 14 %. The new trading week started on a bearish note with BTC/USD opened at $3762. The lower demand area of the range may be tested as the bearish momentum increase.

BTC/USD is in consolidation and trading between $4370 in the upper supply area and at $3470 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

ETH/USD

Dominant trend: Bearish
Supply zones: $250, $300, $350
Demand zones: $50, $30, $10

The head and shoulder pattern is the cryptocurrency structure in the long-term outlook. The bulls attempt continue the journey up north at $134.50 in the supply area was rejected by the 10-EMA on 14th January.

The formation of a bearish railroad on 15th January was an indication of the bears taken over of the market. Increased momentum led to a drop in ETH/USD to $107.51 in the demand area.

The price is below the EMAs crossover and the stochastic oscillator is in the oversold region at 16% an indication of downward momentum in price as the right leg of pattern forms in the week ahead.

 

For more signals: https://www.cryptocomparer.com/news/bitcoin-news/bitcoin-btc-ethereum-eth-monero-xmr-ripple-xrp-cardano-ada-stellar-xlm-eos-bitcoin-sv-bchsv-tron-trx-litecoin-ltc-weekly-trading-signals-for-january-8th/

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    • Actions for the 23rd.  Hugely frustrating day, picked my spots but my timing was off.  I don't seem able to find a trade that will survive long enough for me to manage and test my patience, that in itself is testing me right now.
    • Actions for the 22nd.  I seem to be on a bad run, I'm really struggling with the opening minutes of the trades I'm taking and then get sucked into a little over trading.
    •   Date : 23rd January 2019.

      MACRO EVENTS & NEWS OF 23rd January 2019.



      FX News Today 10-year Treasury yields are down from overnight highs, but still up 0.7 bp at 2.746%, and 10-year JGB yields climbed 0.8 bp to -0.004%. Stock markets remained cautious during the Asian session. The Bank of Japan held policy steady, as expected, while further reducing its outlook for inflation. The resulting weakness in the Yen didn’t help stock markets and Topix and Nikkei dropped -0.60% and -0.14% respectively. The Hang Seng is also down -0.04%, despite mainland China markets initially moving higher as China’s central bank pumped liquidity into the banking system once again. Still, the measures are also a sign that officials are nervous about the slowdown in the economy and CSI 300 and Shanghai Comp are down -0.24% and -0.13%. The bank offered around 258 bln Yuan (USD 38 bln) to banks through its medium term lending tool. Markets continue to question the progress in the US-Sino trade talks, even though White House adviser Lawrence Kudlow said that the trade talks are still on and the story about cancelled preparatory meetings was “not true, there was never any meeting. We are moving toward negotiations.” The negotiations next week will be “very, very important” and “determinative”. Meanwhile, there are the first signs of a possible way out of the US government shutdown. Markets remain easily spooked, but appear to have already priced in a lot of risk last year and US stock futures are moving higher after yesterday’s sell off. Oil prices are trading at USD 53.27 per barrel. Charts of the Day

      Main Macro Events Today Canadian Retail Sales – After Wholesale Sales plummeted yesterday, Canadian Retail Sales are expected to have also declined by 0.4% m/m, with core Retail Sales (ex autos) expected to have declined by 0.6%. World Economic Forum at Davos –The second day of the WEF annual meetings held in Davos and attended by officials from over 90 countries. Comments from central bankers and other influential officials can create significant market volatility. Richmond Manufacturing Index – Expectations – The index is expected to have remained at a sub-zero level, standing at -2 after the -8 in the December release. Support and Resistance Levels
       

      Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

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      Dr Nektarios Michail
      Market Analyst
      HotForex

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    • USDJPY Eyes The 109.88 Resistance Zone And Beyond USDJPY eyes the 109.88 resistance zone beyond as it looks to resume its upside pressure. On the upside, resistance comes in at 110.00 level. A turn above here will turn attention to the 110.50 level. Further out, we expect a possible move towards the 111.00 level if the earlier resistance is invalidated out. The next resistance resides at the 111.50. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support comes in at the 109.50 level where a break will target the 109.00 level. Below that level will turn focus to the 108.50 level and then lower the 108.00 level. On the whole, USDJPY faces further upside pressure on corrective recovery.  
    • $AVGR (AVGR) Avinger stock strong day w/ bottom breakout watch above 0.38,


      analysis https://stockconsultant.com/?AVGR
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