Author: msmark

Gold (XAU/USD) Analysis Recommended by Richard Snow How to Trade Gold The Fed Gave Gold the Green Light after Reaffirming Rate Cut ViewThe Federal Reserve announced their latest monetary policy statement yesterday alongside the summary of economic projections. The immediate takeaways from the announcement include the Fed sticking with the original, three interest rate cuts this year alongside upward revisions to both inflation and growth.Fed Summary of Economic Projections, March 2024Source: Federal Reserve, Summary of Economic Projections March 2024Questions have been raised over just how tight economic conditions are in the US given the resilience of both the jobs market…

Ethereum price is attempting a recovery wave above the $3,500 zone. ETH must clear the $3,580 resistance to continue higher in the near term. Ethereum started a decent recovery wave above the $3,350 zone. The price is trading above $3,450 and the 100-hourly Simple Moving Average. There was a break above a short-term bullish flag pattern with resistance at $3,480 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it settles above the $3,580 resistance zone. Ethereum Price Holds Support Ethereum price started a decent upward move above the $3,250 and $3,350…

2024.03.20 2024.03.20 Short-term analysis for oil, gold, and EURUSD for 20.03.2024Alex Rodiоnovhttps://www.litefinance.org/blog/authors/alex-rodionov/I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.The euro is trading in a short-term uptrend.The article covers the following subjects:Oil price forecast for today: USCrude analysisTraders are trying to consolidate the price above the Target Zone 82.34 – 81.35. If successful, the next growth target in the short-term uptrend will be the Gold Zone 84.98 – 84.65.If the…

Bitcoin price failed to recover above the $68,000 resistance zone. BTC is sliding and might decline again toward the $62,000 support zone. Bitcoin price started a decent increase but struggled near the $68,000 zone. The price is trading below $66,000 and the 100 hourly Simple moving average. There is a short-term declining channel or a bullish flag forming with resistance at $66,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $66,200 resistance zone to start a fresh increase. Bitcoin Price Faces Hurdles Bitcoin price attempted a decent recovery wave above the…

Heads up, franc traders! The SNB is gearing up to make its monetary policy decision soon and which has good odds of  shaking things up among CHF pairs. Are they likely to announce changes this time around? Here’s what you need to know if you’re planning on trading this news event. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More!

Recent observations by Eric Balchunas, a senior ETF analyst at Bloomberg, suggest that the movements in Bitcoin’s price are influenced by factors beyond just the flows of spot Bitcoin Exchange Traded Funds (ETFs). According to Balchunas, who shared his insights on X, “bigger forces at work” shape the largest cryptocurrency’s valuation. This indicates that the correlation between spot ETF flows and Bitcoin’s price action is less direct than some assume. The ETF Influence And Market Movements This analysis emerges amid a period of significant financial activity for Grayscale, which has seen substantial outflows, described by Balchunas as experiencing a “second…

Fitch (in brief):Australian mortgage arrears are at their highest level since May 2020 when arrears spiked due to the beginning of the Covid-19 pandemic30+ day mortgage arrears rose by 10bp qoq to 1.21% in 4Q23, continuing the increase from December 2022 when arrears were at their lowest since 2002Early-stage arrears increased by 6bp to 0.45%, the highest 30-50 day arrears rate seen since February 2016 Historically, arrears increase in the fourth quarter, but this increase is larger than in prior years. Therefore, the rise most likely indicates that persistent inflation and the 4.25pp increase in official interest rates since May…

Blockchain protocol MakerDAO (MKR) continues to see significant gains, maintaining a strong upward trend throughout the year. MKR has seen significant growth of over 358%, accompanied by positive metrics reflecting increased adoption and usage of the protocol. In addition, upcoming voting initiatives aim to further increase the platform’s benefits for its stakeholders. MakerDAO Announces Plans For Rate System Changes In a recent announcement, MakerDAO stated that it closely monitors developments in the cryptocurrency market and has gained a better understanding of the impact of recent proposals.  As a result, the protocol is recommending the next set of changes to its rate…

Dog-themed crypto asset Dogecoin (DOGE) is surging after Coinbase announced its plans to launch futures trading for the memecoin. According to a filing by Coinbase earlier this month, the top US-based crypto exchange platform registered with the Commodity Futures Trading Commission (CTFC) to offer DOGE derivatives starting on or after April 1st. “Pursuant to Commodity Futures Trading Commission hereby submits for self-certification its initial listing of the Dogecoin futures contract to be offered for trading on the exchange on or after April 1st.” News of Coinbase’s plan to offer DOGE futures sent the meme asset flying, as it went from…

EUR/USD hovers around 1.0860 amid the firmer USD in Friday’s early Asian session.  The US S&P Global Composite PMI came in at 52.2 in March vs. 52.5 prior. The Eurozone HCOB Manufacturing PMI arrived at 45.7 in March vs. 46.5 prior, a three-month low. The EUR/USD pair retreats to the 1.0860 area during the early Asian trading hours on Friday. The downtick of the major pair is backed by the firmer US Dollar (USD) and higher US Treasury bond yields. Traders await the German IFO Business Climate on Friday ahead of the Fed’s Chair Powell. The US Fed decided to keep its benchmark…