The #crypto market has corrected 0.46% in the last 24 hours, fluctuating within a narrow range without a clear direction. Bitcoin is down 1% but up 3.7% over seven days, Ethereum is flat for the day but up 10.6% over the week. The top coins are mixed with #BNB +2% and #Solana -2.5%.
#Bitcoin is currently drawing its fourth daily candle with opening and closing levels close to each other. Such sideways consolidations are characteristic of strong bull markets, as opposed to corrective pullbacks on smoother rallies.
#Ethereum hit local highs on rumours of a positive regulatory decision before the end of March. Bloomberg analyst James Seyffarth bet 4 ETH that the SEC will not approve a spot Ethereum ETF next month.
According to data from CoinShares, investment in crypto funds rose by a record $2.452 billion last week, following inflows of $1.116 billion the previous week. Bitcoin investments increased by $2.424 billion, Ethereum by $21 million, #Cardano lost $6 million, and Solana lost $1.6 million.
Since the beginning of the year, crypto funds have seen inflows of an impressive $5.2 billion, with total AUM rising to $67 billion, the highest since December 2021.
#Bitcoin is currently drawing its fourth daily candle with opening and closing levels close to each other. Such sideways consolidations are characteristic of strong bull markets, as opposed to corrective pullbacks on smoother rallies.
#Ethereum hit local highs on rumours of a positive regulatory decision before the end of March. Bloomberg analyst James Seyffarth bet 4 ETH that the SEC will not approve a spot Ethereum ETF next month.
According to data from CoinShares, investment in crypto funds rose by a record $2.452 billion last week, following inflows of $1.116 billion the previous week. Bitcoin investments increased by $2.424 billion, Ethereum by $21 million, #Cardano lost $6 million, and Solana lost $1.6 million.
Since the beginning of the year, crypto funds have seen inflows of an impressive $5.2 billion, with total AUM rising to $67 billion, the highest since December 2021.
#Gold rallied for the fourth consecutive session to reach $2023, recovering almost all the losses suffered the week before on the back of the inflation report. Gold's ability to rally suggests continued domestic demand, as some investors are clearly rushing to buy back any losses.
At the same time, however, we note that since the beginning of the year, gold has been characterised by solid selloffs on the news, forming a smooth downtrend. In the context of this downtrend, a rise to $2040-2045, which is the upper boundary of the bearish range, looks quite acceptable.
The area around $2035 - the highs of two weeks ago - also appears to be a crucial intermediate level. Confident buying from this level would be the first important signal that the recent correction is over and that gold is ready to make a fresh assault on the highs.
Much more important, however, will be the behaviour of gold as it approaches the $2050 level, where the reversal of the decline in late January took place.
At the same time, however, we note that since the beginning of the year, gold has been characterised by solid selloffs on the news, forming a smooth downtrend. In the context of this downtrend, a rise to $2040-2045, which is the upper boundary of the bearish range, looks quite acceptable.
The area around $2035 - the highs of two weeks ago - also appears to be a crucial intermediate level. Confident buying from this level would be the first important signal that the recent correction is over and that gold is ready to make a fresh assault on the highs.
Much more important, however, will be the behaviour of gold as it approaches the $2050 level, where the reversal of the decline in late January took place.
Consolidation at this level would confirm the breakdown of the downtrend and set the stage for a move towards $2100 and the subsequent renewal of historic highs.
However, as long as gold is trading within the downtrend, there is a greater chance of a breakdown or even an acceleration of the downtrend.
Among the fundamental factors, the potential for growth could be provided by the fall in the dollar if Fed officials show a softening of their position, bringing the start of interest rate cuts closer.
On the bearish side, equities could come under pressure following the optimistic rally in the tech giants and the news of a sharp slowdown in economic activity. We also do not rule out the possibility that the recent support measures for the Chinese stock market and property sector will cool demand for gold as a safe-haven for investors from that part of the world.
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However, as long as gold is trading within the downtrend, there is a greater chance of a breakdown or even an acceleration of the downtrend.
Among the fundamental factors, the potential for growth could be provided by the fall in the dollar if Fed officials show a softening of their position, bringing the start of interest rate cuts closer.
On the bearish side, equities could come under pressure following the optimistic rally in the tech giants and the news of a sharp slowdown in economic activity. We also do not rule out the possibility that the recent support measures for the Chinese stock market and property sector will cool demand for gold as a safe-haven for investors from that part of the world.
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#WaveAnalysis
#WTI crude oil reversed from resistance level 78.20
Likely to fall to support level 76.00
WTI crude oil recently reversed down from the key resistance level 78.20 (former support from August, which has been reversing the price from the start of November).
The resistance level 78.20 was strengthened by the 38.2% Fibonacci correction of the previous downward impulse from September.
Given the strength of the resistance level 78.20, WTI crude oil can be expected to fall further to the next support level 76.00, which stopped the earlier downward correction.
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#WTI crude oil reversed from resistance level 78.20
Likely to fall to support level 76.00
WTI crude oil recently reversed down from the key resistance level 78.20 (former support from August, which has been reversing the price from the start of November).
The resistance level 78.20 was strengthened by the 38.2% Fibonacci correction of the previous downward impulse from September.
Given the strength of the resistance level 78.20, WTI crude oil can be expected to fall further to the next support level 76.00, which stopped the earlier downward correction.
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#WaveAnalysis
#EURJPY broke resistance level 161.80
Likely to rise to resistance level 164.00
EURJPY currency pair continues to rise steadily after the price broke the resistance level 161.80 (which stopped the previous minor impulse wave 1 in the middle of January).
The breakout of the resistance level 161.80 accelerated the active short-term impulse wave iii of the higher order intermediate impulse wave (5).
Given the predominant daily uptrend, EURJPY currency pair can be expected to rise further to the next resistance level 164.00, which stopped sharp wave (3) in November.
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#EURJPY broke resistance level 161.80
Likely to rise to resistance level 164.00
EURJPY currency pair continues to rise steadily after the price broke the resistance level 161.80 (which stopped the previous minor impulse wave 1 in the middle of January).
The breakout of the resistance level 161.80 accelerated the active short-term impulse wave iii of the higher order intermediate impulse wave (5).
Given the predominant daily uptrend, EURJPY currency pair can be expected to rise further to the next resistance level 164.00, which stopped sharp wave (3) in November.
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The eurozone's current account surplus climbed to a six-month high of 31.9bn in December. Analysts, on average, had expected a decline to 20.3 bn from 22.5 bn the previous month. The current level was seen in the eurozone during the relatively benign pre-Covid period and sometime before Natural Gas prices spiked in the second half of 2021.
The normalisation of the surplus is good news for the single currency, as it means more net capital inflows into the region. But this growth has been fuelled by falling imports, which can be the result of lower commodity and energy prices (which is a very good thing), but also partly indicative of a slowdown in domestic demand. This threatens to translate into economic contraction in the coming months.
The euro area experienced periods of severe import contraction in late 2008 and early 2010, and in both cases, the economy experienced a severe downturn. Back in 2008, all this was accompanied by the collapse of the euro.
The normalisation of the surplus is good news for the single currency, as it means more net capital inflows into the region. But this growth has been fuelled by falling imports, which can be the result of lower commodity and energy prices (which is a very good thing), but also partly indicative of a slowdown in domestic demand. This threatens to translate into economic contraction in the coming months.
The euro area experienced periods of severe import contraction in late 2008 and early 2010, and in both cases, the economy experienced a severe downturn. Back in 2008, all this was accompanied by the collapse of the euro.
The #crypto market hit multi-month highs on Tuesday but started Wednesday with a frightening decline. Ethereum lost around 2%, pulling back to $2929, which is the scale of the fall in Solana. Cardano is down 5%, and XRP is down 3%. Bitcoin has managed to avoid a sell-off without replicating the upward momentum observed in recent days.
Technically, #Ethereum's pullback to $2700 is a correction of this month's rally and should not cause much alarm. However, a break below this level could be a cause for concern.
According to AllianceBernstein, Ethereum is virtually the only alternative to Bitcoin that can get ETF approval from the SEC. The likelihood of ETH ETF approval is almost 50% for launch by May and almost 100% in the next 12 months.
Technically, #Ethereum's pullback to $2700 is a correction of this month's rally and should not cause much alarm. However, a break below this level could be a cause for concern.
According to AllianceBernstein, Ethereum is virtually the only alternative to Bitcoin that can get ETF approval from the SEC. The likelihood of ETH ETF approval is almost 50% for launch by May and almost 100% in the next 12 months.
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🍫 Cocoa Goes Nuts! Why Are Prices Skyrocketing? 🚀
We're spilling the cocoa beans on the recent craze that's been the the flavour of the month! Cocoa prices just hit an all-time high, lets dive in to see why…
📈 Sweet Surge
Cocoa soared to mouth-watering heights, with poor harvests in West Africa leaving a bitter taste for chocolate lovers everywhere, but its good news for…
🦸 Hedge funds!
These financial superheroes (or villains, depending on your viewpoint) are betting BIG on cocoa prices going even higher. They've thrown $8.7 BILLION at this.
🏆 Record Prices
March futures closed at a decadent $6064 per ton, surging 48% in 6 weeks!
🌧 Weather Woes & Hedge Fund Hype
A mix of bad weather, disease, and a hedge fund stampede has whipped up this cocoa frenzy.
🏃♂️💼 Supply Scramble
Big cocoa processors are in a dash to secure enough supply for chocolate makers, adding a crunchy challenge to the market.
🌱💵 Bitter Reality for Growers
Despite the high market prices, cocoa growers in Ghana and Ivory Coast are still receiving a fraction of those figures, highlighting the need for a sweeter deal closer to the farmgate.
📲 Enter the delicious world of trading Cocoa Futures with FxPro, and let's make your CFD portfolio as rich and diverse as a box of chocolates! 🍫✨
⚠️Remember, Buying or Selling commodities like cocoa can add flavour to your portfolio, but always taste-test your strategy with the latest market insights. This is marketing communication, not advice.
We're spilling the cocoa beans on the recent craze that's been the the flavour of the month! Cocoa prices just hit an all-time high, lets dive in to see why…
📈 Sweet Surge
Cocoa soared to mouth-watering heights, with poor harvests in West Africa leaving a bitter taste for chocolate lovers everywhere, but its good news for…
🦸 Hedge funds!
These financial superheroes (or villains, depending on your viewpoint) are betting BIG on cocoa prices going even higher. They've thrown $8.7 BILLION at this.
🏆 Record Prices
March futures closed at a decadent $6064 per ton, surging 48% in 6 weeks!
🌧 Weather Woes & Hedge Fund Hype
A mix of bad weather, disease, and a hedge fund stampede has whipped up this cocoa frenzy.
🏃♂️💼 Supply Scramble
Big cocoa processors are in a dash to secure enough supply for chocolate makers, adding a crunchy challenge to the market.
🌱💵 Bitter Reality for Growers
Despite the high market prices, cocoa growers in Ghana and Ivory Coast are still receiving a fraction of those figures, highlighting the need for a sweeter deal closer to the farmgate.
📲 Enter the delicious world of trading Cocoa Futures with FxPro, and let's make your CFD portfolio as rich and diverse as a box of chocolates! 🍫✨
⚠️Remember, Buying or Selling commodities like cocoa can add flavour to your portfolio, but always taste-test your strategy with the latest market insights. This is marketing communication, not advice.
FxPro
May 2025 Cocoa Future futures price chart, trading May 2025 Cocoa Future with FxPro
💵 Trade #Cocoa_K25 with FxPro and benefit from ultra-fast order execution and NDD intervention. 💰 Futures enable investors to speculate on the price movements of a range of commodities, indices and energy instruments.👈
Weaker Yen helped Japan return to a trade surplus
On a seasonally adjusted basis, January recorded the highest surplus in three years. The 235B yen ($1.57B) surplus of exports over imports represents 1.3% of total turnover - a fraction of the 11% the country enjoyed 20 years ago.
Yen's demise started in March 2022, and in the following year, there was a twist in trends when a decline in imports accompanied growth in exports. The first half of this dynamic is less dependent on Japan, as imports are largely commodities and energy, which are driven by global trends.
Exports, on the other hand, have been rising steadily since last January. The latest data show an 11.9% y/y increase in exports, while imports fell by 9.6% y/y.
The trade surplus is a supportive factor for the Yen. However, traders must also factor in the Bank of Japan's ultra-loose monetary policy, which makes the Yen attractive to the carry trade that weighs on the exchange rate during periods of economic growth.
On a seasonally adjusted basis, January recorded the highest surplus in three years. The 235B yen ($1.57B) surplus of exports over imports represents 1.3% of total turnover - a fraction of the 11% the country enjoyed 20 years ago.
Yen's demise started in March 2022, and in the following year, there was a twist in trends when a decline in imports accompanied growth in exports. The first half of this dynamic is less dependent on Japan, as imports are largely commodities and energy, which are driven by global trends.
Exports, on the other hand, have been rising steadily since last January. The latest data show an 11.9% y/y increase in exports, while imports fell by 9.6% y/y.
The trade surplus is a supportive factor for the Yen. However, traders must also factor in the Bank of Japan's ultra-loose monetary policy, which makes the Yen attractive to the carry trade that weighs on the exchange rate during periods of economic growth.
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💻Buckle Up, Tech Investors! Upcoming Nvidia Earnings Report 🤖
Nvidia's quarterly report is almost here, and analysts are predicting BIG things:
📈Revenue could TRIPLE to $110 billion by 2026
💪Nvidia has CRUSHED earnings expectations for 10 straight quarters
🚀The stock has SOARED 7 times after past earnings
Will this report be another record-breaker, or will the rally cool down? ❄️
🤔Think you know the answer? Trade Nvidia with FxPro and BUY or SELL based on your prediction!
🔔The earnings drop after the US closing bell on February 21st.
Don't miss the action!
Nvidia's quarterly report is almost here, and analysts are predicting BIG things:
📈Revenue could TRIPLE to $110 billion by 2026
💪Nvidia has CRUSHED earnings expectations for 10 straight quarters
🚀The stock has SOARED 7 times after past earnings
Will this report be another record-breaker, or will the rally cool down? ❄️
🤔Think you know the answer? Trade Nvidia with FxPro and BUY or SELL based on your prediction!
🔔The earnings drop after the US closing bell on February 21st.
Don't miss the action!
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#WaveAnalysis
#CHFJPY reversed from support level 169.65
Likely to rise to resistance level 171.45
CHFJPY currency pair recently reversed up from the key support level 169.65 (lower boundary of the narrow sideways price range inside which the pair has been trading from the start of January).
The support level 169.65 was strengthened by the lower daily Bollinger Band.
Given the clear daily uptrend and the continued yen sales, CHFJPY currency pair can be expected to rise further to the next resistance level 171.45, upper border of this price range.
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#CHFJPY reversed from support level 169.65
Likely to rise to resistance level 171.45
CHFJPY currency pair recently reversed up from the key support level 169.65 (lower boundary of the narrow sideways price range inside which the pair has been trading from the start of January).
The support level 169.65 was strengthened by the lower daily Bollinger Band.
Given the clear daily uptrend and the continued yen sales, CHFJPY currency pair can be expected to rise further to the next resistance level 171.45, upper border of this price range.
📣Trade responsibly with fxpro.com
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#WaveAnalysis #SPX
S&P 500 reversed from resistance level 5035.00
Likely to fall to support level 4920.00
S&P 500 index recently reversed down from the pivotal resistance level 5035.00 (which stopped the previous minor impulse wave iii at the start of this month).
The downward reversal from the resistance level 5035.00 created the daily Japanese candlesticks reversal pattern Bearish Engulfing, which was preceded by the daily Evening Star near this price level.
Having just broken the sharp daily up channel from November, S&P 500 index can be expected to fall further to the next support level 4920.00 (low of the previous wave iv).
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S&P 500 reversed from resistance level 5035.00
Likely to fall to support level 4920.00
S&P 500 index recently reversed down from the pivotal resistance level 5035.00 (which stopped the previous minor impulse wave iii at the start of this month).
The downward reversal from the resistance level 5035.00 created the daily Japanese candlesticks reversal pattern Bearish Engulfing, which was preceded by the daily Evening Star near this price level.
Having just broken the sharp daily up channel from November, S&P 500 index can be expected to fall further to the next support level 4920.00 (low of the previous wave iv).
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The crypto market rebounded in the overnight session, supported by a return of optimism in stocks after a cheering Nvidia report. The crypto capitalisation was up over 1% in 24 hours.
The impressive gains were much stronger than the market, with BNB up 5% in one day and 10.5% in seven days, compared to BTC's +0.6% and -0.9% over the same periods. Still, BNB is playing catch-up over a broader time frame.
Bitcoin managed to hold above $50K on Wednesday, where it found buyers and is once again trading at its preferred level of $52K, near which we see daily opens and closes for the eighth consecutive day.
Ethereum proved earlier in the day that it is in rapid growth mode, characterised by lightning-fast corrections. On Thursday morning, the price was back above $3000, close to the highest since April 2022.
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The impressive gains were much stronger than the market, with BNB up 5% in one day and 10.5% in seven days, compared to BTC's +0.6% and -0.9% over the same periods. Still, BNB is playing catch-up over a broader time frame.
Bitcoin managed to hold above $50K on Wednesday, where it found buyers and is once again trading at its preferred level of $52K, near which we see daily opens and closes for the eighth consecutive day.
Ethereum proved earlier in the day that it is in rapid growth mode, characterised by lightning-fast corrections. On Thursday morning, the price was back above $3000, close to the highest since April 2022.
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Mixed PMI data from various Euro area countries led to a surge in volatility for European currency pairs on Thursday morning.
Preliminary estimates for France surprised with their strength. The manufacturing PMI jumped from 43.1 to 46.8 (43.5 expected). The services index rose from 45.4 to 48.0 (45.7 expected). These figures came well above expectations, boosting risk appetite and supporting buying in both the single currency and equities.
However, the EURUSD's rise to 1.0887 was rudely halted by the release of the exact figures for Germany, where the manufacturing index fell to 42.3 from 45.5 (expected 46.1). The services index rose to 48.2 from 47.7 (48.0 was expected).
Preliminary estimates for France surprised with their strength. The manufacturing PMI jumped from 43.1 to 46.8 (43.5 expected). The services index rose from 45.4 to 48.0 (45.7 expected). These figures came well above expectations, boosting risk appetite and supporting buying in both the single currency and equities.
However, the EURUSD's rise to 1.0887 was rudely halted by the release of the exact figures for Germany, where the manufacturing index fell to 42.3 from 45.5 (expected 46.1). The services index rose to 48.2 from 47.7 (48.0 was expected).
For the euro area, the manufacturing index fell from 46.6 to 46.1, against expectations for a rise to 47.0. The services sector reached the critical milestone of 50.0. Readings below this level indicate a month-on-month contraction, and the overall composite PMI for the euro area remained in contractionary territory for the seventh consecutive month. However, it has risen to 48.9, the highest level since June last year.
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The #EURUSD rose for the seventh consecutive session. The bulls tested the 200-day average earlier in the week, and the pair traded above this important trend indicator on Thursday morning. For much of last month, the pair was bought on dips below this line, and clearly, they did not want to stay away from it for long in February. The ability to attract buyers from these levels could set up a sustained uptrend.
However, the course of trading suggests that it will be a very bumpy and uneven road. On Thursday, in addition to the disappointment of the weak German data, the 50-day moving average acted as resistance. This dynamic suggests that we may see an intense tug-of-war in the coming days before the bulls can mount an offensive.
Fundamental pressures on the dollar against the euro include expectations that the Fed will start cutting rates much sooner than the ECB.
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However, the course of trading suggests that it will be a very bumpy and uneven road. On Thursday, in addition to the disappointment of the weak German data, the 50-day moving average acted as resistance. This dynamic suggests that we may see an intense tug-of-war in the coming days before the bulls can mount an offensive.
Fundamental pressures on the dollar against the euro include expectations that the Fed will start cutting rates much sooner than the ECB.
📣Trade responsibly with fxpro.com
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Dollar turns the tables
Something important happened in the currency markets on Thursday. The initial and relatively sharp fall of 0.7% in the dollar index was reversed, and now, as trading begins in New York, we are seeing a strengthening to the day's opening level.
In terms of news, the disappointing Eurozone PMI data helped to halt the dollar's slide. Just as notably, buying US currency has increased significantly with the start of active trading in the US.
Something important happened in the currency markets on Thursday. The initial and relatively sharp fall of 0.7% in the dollar index was reversed, and now, as trading begins in New York, we are seeing a strengthening to the day's opening level.
In terms of news, the disappointing Eurozone PMI data helped to halt the dollar's slide. Just as notably, buying US currency has increased significantly with the start of active trading in the US.
The release of the weekly jobless claims can be seen as a supporting factor. This is another robust data with initial claims falling to 201 thousand (minimum for five weeks). Continued claims came in at 1.862 million against a forecast of 1.885 million. This data fits perfectly into the picture of a strong US economy, which will allow or even force the Fed not to rush to cut interest rates.
But we are also looking at another factor - Nvidia. The company once again blew away expectations for last quarter's revenue and future guidance. It is quite possible that the company's report, together with the solid macroeconomic data, is attracting capital from abroad to the US markets, supporting interest in the dollar.
A more fundamental approach is also valid: a strong labour market and confident corporate forecasts are a strong plus for higher interest rates in the long run.
But we are also looking at another factor - Nvidia. The company once again blew away expectations for last quarter's revenue and future guidance. It is quite possible that the company's report, together with the solid macroeconomic data, is attracting capital from abroad to the US markets, supporting interest in the dollar.
A more fundamental approach is also valid: a strong labour market and confident corporate forecasts are a strong plus for higher interest rates in the long run.
#WaveAnalysis
#USDCAD reversed from resistance level 1.3530
Likely to fall to support level 1.3400
USDCAD currency pair recently reversed down from the pivotal resistance level 1.3530 (which has been repeatedly reversing the pair from the middle of January).
The downward reversal from the resistance level 1.3530 will most likely form the daily Evening Star today – strong sell signal for this currency pair.
USDCAD currency pair can be expected to fall further to the next support level 1.3400, which stopped the previous minor correction ii.
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#USDCAD reversed from resistance level 1.3530
Likely to fall to support level 1.3400
USDCAD currency pair recently reversed down from the pivotal resistance level 1.3530 (which has been repeatedly reversing the pair from the middle of January).
The downward reversal from the resistance level 1.3530 will most likely form the daily Evening Star today – strong sell signal for this currency pair.
USDCAD currency pair can be expected to fall further to the next support level 1.3400, which stopped the previous minor correction ii.
📣Trade responsibly with fxpro.com
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#WaveAnalysis
#AUDJPY broke long-term resistance level 98.40
Likely to rise to resistance level 100.00
AUDJPY currency pair recently broke the major long-term resistance level 98.40 (previous yearly high from 2022 and 2023).
The breakout of the resistance level 98.40 should accelerate both of the active impulse waves 3 and (3).
Given the multiyear uptrend and the continuation of the strong yen sales, AUDJPY currency pair can be expected to rise toward the next round resistance level 100.00.
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#AUDJPY broke long-term resistance level 98.40
Likely to rise to resistance level 100.00
AUDJPY currency pair recently broke the major long-term resistance level 98.40 (previous yearly high from 2022 and 2023).
The breakout of the resistance level 98.40 should accelerate both of the active impulse waves 3 and (3).
Given the multiyear uptrend and the continuation of the strong yen sales, AUDJPY currency pair can be expected to rise toward the next round resistance level 100.00.
📣Trade responsibly with fxpro.com