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Bitcoin tumble continues

15:35 2021-05-16 UTC--5 Relevance up to 15:00 2021-05-17 UTC--5

Author: Alexandros Yfantis

Popular analytics

Trading plan for the GBP/USD pair for the week of May 17-21. New COT (Commitments of Traders) report.

07:11 2021-05-16 UTC--5

Trading plan for the EUR/USD pair for the week of May 17-21. New COT (Commitments of Traders) report.

06:38 2021-05-16 UTC--5

EUR/USD. European inflation and business activity data will clarify euro's position

09:05 2021-05-14 UTC--5

Trading Signal for Nasdaq 100 #NDX, for May 14 - 17, 2021: Buy above 13,125

08:44 2021-05-14 UTC--5

Trading Signal for EUR/USD for May 14 - 17, 2021: Buy above 1.2105

07:54 2021-05-14 UTC--5

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Crypto-currencies Relevance up to 15:00 2021-05-17 UTC--5

Bitcoin tumble continues

Bitcoin is breaking below $47,000 and our first pull back target of $43,000-$40,000 is getting closer. Technically short-term trend has reversed and price today broke below key support levels. The bearish warnings in Bitcoin were given a couple weeks back when we warned bulls that the bearish.

Crypto-currencies Relevance up to 12:00 2021-05-17 UTC--5

XRP provides a bullish signal.

XRP/USD broke above $1.45 today and the important short-term resistance trend line. Price reached as high as $1.61 and is now pulling back towards $1.45. Today's price action is an important bullish signal for two reasons. Price has made an important reversal off the 61.8% Fibonacci retracement and.

Trading plan Relevance up to 06:00 2021-05-17 UTC--5

Trading plan for the GBP/USD pair for the week of May 17-21. New COT (Commitments of Traders) report.

The pound has almost reached its three-year highs. The British economy did not recover in the first quarter.

Trading plan Relevance up to 06:00 2021-05-17 UTC--5

Trading plan for the EUR/USD pair for the week of May 17-21. New COT (Commitments of Traders) report.

The bulls kept the market in their hands. The US currency continues to fall in price.

Technical analysis

May 14, 2021 : EUR/USD daily technical review and trade recommendations.

upside pullback was expected to pursue towards 1.1840 & 1.1990. Both levels failed to provide sufficient bearish pressure. More upside movement was expected to pursue towards 1.2175 (backside of the broken trendline) where significant bearish price action was demonstrated.

Technical analysis

May 14, 2021 : GBP/USD Intraday technical analysis and trade recommendations.

Further bullish advancement was anticipated towards 1.4100 then 1.4150 where the lower limit of the recently-broken channel is currently located. Failure to maintain bearish pressure below 1.3940 will probably enhance another bullish movement for retesting of the price level of 1.4225.

Technical analysis

May 14, 2021 : EUR/USD Intraday technical analysis and trade recommendations.

The price zone around 1.1970 has provided significant bullish rejection so far leading to the current bullish breakout above 1.2050 then 1.2130. Currently, the short term outlook for the EURUSD pair remains bearish. Bullish trades are quite risky.

Crypto-currencies Relevance up to 09:00 2021-05-17 UTC--5

Bitcoin: Elon Musk only helped crypto institutionalists

Bitcoin has not lost its status as a viable asset after Elon Musk's provocative statement on Wednesday. It later became clear that discerning institutional crypto enthusiasts took advantage of the drawdown to buy more coins at a discount.

Crypto-currencies

ETH approaches historical record, LTC and XRP recovers positions, Doge returns to top 5: reasons and forecasts

Over the past day, the cryptocurrency market has fully recovered from the sharp drop in quotes due to the collapse of bitcoin. The main assets are slowly starting to grow, and the main engines of the market are approaching historical records.

Technical analysis

Technical Analysis of EUR/USD for May 14, 2021

The GBP/USD pair continued moving upwards from the level of 1.4025. The pair rose from the level of 1.4025 (weekly support) to the top around 1.4095.

Crypto-currencies Relevance up to 09:00 2021-05-17 UTC--5

Trading Signal for BITCOIN, for May 14 - 17, 2021: Buy above $50,000

The technical reading of the eagle indicator shows that there could be bullish momentum for BTC/USD, it is moving away from the oversold zone and is giving a positive signal.

Technical analysis

EUR/USD Hot Forecast , 14 May 2021

Further upside target is likely to be 1.2180

Technical analysis

Short-term technical analysis on Gold.

Gold price is climbing higher after the pull back towards $1,800. Price back tested the support around $1,800 as expected and is now continuing its upward move. Trend remains bullish as we said many times as long as price is inside the upward sloping channel.

Fundamental analysis Relevance up to 06:00 2021-05-19 UTC--5

EUR/USD. European inflation and business activity data will clarify euro's position

Releases of data on European inflation and business activity will help to understand how the euro is doing. Currently, the main reason for the EUR/USD rally is the regular excess of economic surprises in the eurozone of their American counterparts. Forecasts for macro indicators from the U.S. were.

Technical analysis

Technical analysis on EURUSD for May 14, 2021.

EURUSD has held support at the 61.8% Fibonacci retracement of the rise from 1.1990 to 1.2180. This was an important win for bulls. Only a break below 1.2050-1.2060 could make bulls lose control of the short-term trend. With price now moving higher, bulls are confident that if resistance at 1.2180.

Crypto-currencies

XRP/USD still vulnerable to a move towards $1. Bulls need to recapture $1.56.

XRP/USD is bouncing off the 61.8% Fibonacci retracement of the $0.88-$1.76 recent rise. Price is still below key resistance levels and still vulnerable to a move lower. Critical support is found at $1.20. Price tested this level several times this last few days and all of the times bulls managed to.

Crypto-currencies

Bitcoin bulls fight back but are they strong enough to push higher?

Bitcoin has managed to fall as low as $46,615 breaking below April low. Bulls have fought back since then and price is again above $50,000. Price is holding above the key support trend line now found at $48,180. Failure to hold above this level will lead price to a move even lower than $46,000,.

Stock Markets Relevance up to 08:00 2021-05-17 UTC--5

Trading Signal for Nasdaq 100 #NDX, for May 14 - 17, 2021: Buy above 13,125

The technical reading of the eagle indicator is giving a bullish signal. The Nasdaq 100 may reach the 4/8 Murray level near 13,750.

Short-term analysis and trading recommendations on EURJPY.

EURJPY is in a bullish trend making higher highs and higher lows. Price has formed and upward sloping wedge pattern that clearly defines the boundaries of the move and helps us identify promptly any change in trend. With the recent new higher high in price we also have our second warning by the.

Analysis of EUR/USD on May 14, 2021. Markets await US retail sales data

The wave counting on the 4-hour chart is still clear and does not require any additions. Looking at the supposed wave 1 as part of the new upward trend section, it becomes clear that the third wave or c is also likely to turn out to be quite extended.

Technical analysis Relevance up to 07:00 2021-05-17 UTC--5

Trading Signal for EUR/USD for May 14 - 17, 2021: Buy above 1.2105

In the graph, you can see the complete formation of the symmetric triangle and the respective upward break that the Euro made, giving a bullish continuation signal to the 1.2145 area.

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We present to you the daily updated section of market analysis prepared by professional analysts of InstaForex Company. Each of the specialists represented in this section, carries out analytical reviews in accordance with his/her vision of the current situation on foreign exchange and other markets. However, the outlooks below are only recommendations and not instructions to any actions; they contain analysis of the current situation on the currency market. In some cases the analysts' opinions to changes in the current market situation can differ, in this way, we recommend you to follow the publications of only one analyst, who in your view most clearly and correctly evaluates the situation on the international Forex market.