2nd Feb Forex/Crypto Analysis & Market updates - By Shivkumar
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BTC/USD :- BTC/USD drops to $33,670 in its latest pullback move during early Tuesday. The level to look for $31,240 during further weakness and drop below the $30,000 will have $28,768 in the spotlight. An upside of $34,240-50 will not hesitate to attack the $40,000 targeting the latest record top, around $41,987. Trend is bullish unless breaking $31,240 and wait for the pair’s upside break of $34,250.
ETH/USD :- Ethereum price is in an upswing as the price nears candlestick close above $1,450 would confirm a bullish and may target to ETH towards $1,900, representing a 30% increase. A small cluster of investors have purchased around 100,000 ETH for a market value of $1,385. Ethereum will enter new high discovery mode if it manages to slice through it. We can also see decrease of sell pressure on exchanges as investors are confident to ETH achieve new levels. A break of $1,450 resistance level will clear further way for newer high.
XRP/USD :- XPR finally broke out of the consolidation. Investors must proceed with caution because you can see some support levels at $0.7 and $0.5 fail to hold. XPR is trading above $0.72 amid an increased target force for gains toward $1. XPR breaks out toward $1, reminding investors that it never left the ‘game.’
EUR/USD :- EUR/USD is clinging onto the recovery gains under 1.2100 and US dollar is trying to regain footing amid a rally in the S&P 500 futures. The recovery move may eye for the 1.2100 upside but 1.2150-60 will be a tough nut to break for EUR/USD bulls. Current support 1.2000 threshold can offer an intermediate halt during the fall. A downside break of 1.2055 will target level of 1.1962.
GBP/USD :- is expected to keep the 1.3580-1.3760 range bound. The next 1 to 3 weeks the bias seems to be down side.
XAU/USD :- US dollar regains upside momentum even as risks recover on stimulus hopes, Sino-American news. Gold’s short-term downside around $1,845, bulls are less likely to be move unless witnessing a clear break of $ 1877 near $1,876.
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