The Euro continues to fall rather hard during the trading session on Tuesday as the German ZEW Economic Sentiment figures came out at less than half as expected.
The British pound rallied a bit during the trading session after falling when it was announced that the UK budget was going through. That being said though, this is a market that is still meandering around the 1.30 level more than anything else.
The British pound initially pulled back during the trading session on Tuesday but found plenty of support at the 50 day EMA to turn around and show signs of life again. The fact that the British are going to go ahead with their budget certainly help the situation as well.
The Australian dollar fell significantly during the trading session on Tuesday, as we continue to see a lot of concerns when it comes to the RBA cutting rates and of course the entire situation in China.
Litecoin remains in a bullish formation despite suffering a potentially devastating sell-off over the weekend. After surging to a six-month high of $83 Litecoin felt the full force of bearish pressure as it succumbed to a sudden 19.65% move to the downside. However, the world's sixth largest cryptocurrency rapidly bounced back before the daily candle close to avoid a confirmed break down in price. It has gone on to close two consecutive daily candles above the $72 level of support, which will be key if the rally is to see continuation over the coming weeks. If Litecoin can continue to establish $72 as a platform it will most likely swing back towards the $78 level of resistance. A breakout aboveThe post Latest Litecoin price and analysis (LTC to USD) appeared first on Coin Rivet.
Yesterday we looked closer on the situation on the Swiss Franc and today, we will analyze Japanese Yen. First, the JPY Index, which is showing first signs of a bullish sentiment.
Risk aversion swept through Asian markets on Tuesday morning after Apple warned investors it may not meet revenue targets for this quarter due to the coronavirus outbreak hitting production and demand in China
The minutes also showed RBA policymakers expect the coronavirus outbreak to “subtract from growth in exports over the first half of 2020.”
GBP/USD briefly dipped below the 1.3000 handle but is seen catching a firm bid in early European trading. The pair is on track to post a bullish reversal candle on a 4-hour chart which signals further upside potential.
USD/JPY is building a minor and shallow pullback at the previous top. The wave patterns indicate a potential bearish ABC for a strong move higher.
After a choppy start, the majors move into the green. Failure to move through to key levels could lead to a reversal, however…
Market risk appetite wanes following Apple’s profit warning. Apple is unlikely to be alone and that doesn’t bode well as COVID-19 cases continue to rise.