- Global stocks rebound slightly
- EURUSD returns to 1.17 level
- Cryptocurrencies rose sharply
Friday's macroeconomic calendar was not very interesting, so the volatility in the FX market was moderate. The dollar, which has recently been in an uptrend, is slightly losing today. USD decreased by 0.25% against the Euro. The US currency also loses 0.2% against the Swiss franc and the New Zealand dollar. The GBPUSD currency pair is trading flat, while the AUD, JPY, CAD currency pair are slightly losing against the dollar. The EURUSD returned to the 1.17 level and this may form a potential bullish piercing pattern on the D1 interval.
A bit more volatility was seen on the stock market. The main European stock indices started today’s session under pressure, however buyers took the initiative very quickly and the vast majority of European bourses finished the day in positive territory. The mood clearly improved in the United States, where major indices rebounded after the recent strong declines caused by the publication of the FED Minutes. The Nasdaq rose more than 1% and is the best performer while the S&P 500 adds 0.77% and the Dow Jones ranks 0.73% higher.
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Create account Try a demo Download mobile app Download mobile appThe crypto market did well on Friday. Ripple, Ethereum and Bitcoincash gain almost 4%. Meanwhile, Bitcoin and Litecoin rose over 4.5%! The main cryptocurrency reached levels unseen since May this year amid rising interest from institutional investors. Wells Fargo – one of the biggest US banks registered a new, pooled investment fund that offers its wealthy clients indirect exposure to Bitcoin. Meanwhile Blackrock, the world’s largest asset manager, had nearly $400 million invested in bitcoin mining companies at the end of the second quarter, according to the SEC filing. If the current sentiment prevails, an attack on the psychological level of $ 50,000 is possible in the near future.
WTI crude fell 1.60% and is trading slightly around $62.60 a barrel, while Brent dropped 1.30% and is trading above $65.50, extending losses for the 7th day. Elsewhere gold lost 0.40% and is trading slightly above $ 1,780.00 / oz, while silver is trading 1.0 % lower around $ 23.25 / oz.
Looking at the Dow Jones (US30) index from a technical point of view, buyers managed to halt declines around the support zone at 34,600 pts. We are currently observing a test of major resistance at 35,055 pts. Should break higher occur, then upward move may accelerate towards all-time high at 35,550pts. On the other hand, if bullish momentum fades away here, then downward correction may deepen.
US30 interval H4. Source: xStation5
