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Follow this list to track and discover the most volatile cryptocurrencies in the last 20 days. Each coin's volatility is calculated based on its standard deviation over a 20 day period.
It’s deep red for the majors early on. With support levels already tested, it could be a painful day ahead for the bulls.
With the major financial markets closed for the day, volumes will be on the lighter side. U.S housing data will be the only numbers for the Dollar to respond to.
February’s employment report was mixed and in this week’s Reserve Bank of Australia minutes, the central bank didn’t sound too excited about the upcoming report. In the minutes, the RBA said that an uptrend in the unemployment rate would open the door to a rate cut.
Based on yesterday’s close and the current price at .6725, the direction of the NZD/USD on Thursday is likely to be determined by trader reaction to the major Fibonacci level at .6725.
The Dollar’s on the back foot following stats out of China this morning. It may not last though if there’s a resolution to the trade war…
China data was skewed to the positive. Whilst failing to spur the equity markets, the EUR and the Aussie Dollar benefited.
It’s back into the red for DASH. A hold onto $119 levels will be key to avoiding a pullback to $117 levels later in the day.
Traders are now pricing in at least two rate cuts by the RBNZ this year. Capital Economics and Westpac are forecasting the central bank will cut official interest rates by 25 basis points when it next meets in early May.
Bitcoin decreased by almost 2% in the last 24 hours and is trading at around $5100. The benchmark cryptocurrency attempted to break through $5200, but again faced sales pressure, and as the price dropped, trading volumes grew.
Based on the early price action and the current price at .6756, the direction of the NZD/USD on Tuesday will be determined by trader reaction to the 50% level at .6767.
Consumer sentiment figures out of Germany and Eurozone and industrial production figures out of the U.S will be in focus later today.
Bitcoin Cash ABC looks set for another rally, providing much-needed support to the broader market. Bitcoin will need to hold on though…
The US-Sino trade concerns to end soon sets the market mood. Greenback rebounded losses on the backdrop of surprising NY April Empire State Manufacturing Index. GBP/USD steadies amid Brexit headlines.
It’s risk-on in the early hours, support the EUR while pinning back demand for the Greenback. Earnings results will be key later.
Bitcoin Cash ABC is the early mover, while Litecoin sees red. It could be a choppy day ahead if the majors fail to breakout from current levels.
In other news out of Australia, Reserve Bank of Australia deputy governor Guy Debelle said “decent” economic growth over the next few months would be enough to prevent the bank from having to cut official rates. Dr. Debelle further added that the bank had enough firepower if required to lower official rates further, but the expectations was that it would be required.
It’s been a bad week for the majors, but it could have been far worse. Bitcoin’s recovery and hold onto $5,000 levels remains pivotal for the broader market.
It’s a better start to the day than Friday. Holding above key levels through the morning would be key to avoiding a sell-off later in the day.
Altcoins, as always, demonstrate the complete absence of their own path, duplicating the waves of negative or positive of the first cryptocurrency. Top 10 altcoins in the moment lose 4% -7%.
In today’s Financial Stability Review, RBA policymakers focused heavily on highlighting the potential threats at home and abroad, while noting that at present there are no imminent dangers. This supports its decision to drop its tightening bias in favor of a neutral stance for the cash rate.
China trade figures ease some of the market jitters over the economy. The focus will now shift to earnings to support risk appetite throughout the day.
Due to the prolonged move down in terms of price and time, we have to be aware of a possible closing price reversal bottom. We’ve already seen a lower-low today so a higher close will indicate the selling is getting weaker, or the buying stronger.
It’s another bearish start to the day. Following yesterday’s sell-off, the market could go into free-fall should support fail to kick in by lunchtime.