• Shivkumar

Forex & Crypto Analysis & updates - By Shivkumar



BTC/USD :- Broad spectrum of institutions are accumulating Bitcoin and current demand could also be coming from investors who have been closing their gold positions and buying Bitcoin. BTC hit $40,000 and selling from big institutions could also be the reason for the price drop seen today. But we can see aggressive buying at lower levels resulted in a strong rebound. If the price is rebound from these price $36,518.73, it will suggest that traders are not booking profits in a hurry and are buying on minor dips. These aggressive buying could push the price to $41,959.63, and resume with the next target objective at $45,000 and then $50,000. Bearish below $36,518.73, and could drop to $32,816.03 an in panic selling could drop to $27,167.10. As per the technical charts the price is currently range bound between $38,000 to $41,959.63 range.


ETH/USD :- ETH buyers next move higher and seemingly lacks a clear directional bias while trading around $1200 Saturday, and a strong bounce from Friday’s deep correction to sub-$1100 levels. If bullish upside, cab target high at $1419 and $a support $1139.


XRP/USD :- The price looks set to end the week within Friday’s range between $0.3703 and $0.2456 indicative of a likely buyers’ exhaustion suggesting weakening upside bias.


EUR/USD:- The currency pair is trading near 1.2172 oversold dollar is drawing bids and pushing pair lower with risk sentiment weakening and a case for a retest of 1.2212/45 prior to a bearish continuation.


GBP/USD :- is seen moving to the 1.3400 neighborhood on a daily close of 1.3460.GBP ‘could trade between 1.3460 and 1.3710 for a period of time’. UK’s covid figures hover around record top, government rolls up for more vaccinations.


USD/JPY :- The currency pair is trading at 104.15 and the pair bottomed out at 102.59 on Jan. 6. The technical charts indicates a weakening of demand for USD/JPY puts or bearish bets.


AUD/USD :- has now moved into a consolidative phase between 0.7640 and 0.7805. The aussie pair remains sold-off into increased US stimulus expectations-led rally in Treasury yields, which underpins the advance in the US dollar. Aussie remains sold-off into increased US stimulus expectations-led rally in Treasury yields, which underpins the advance in the US dollar.


XAU/USD :- Bearish below $1857 key resistance now support at $1927 could trigger a quick drop towards $1815. Bears could then test at $1811, which is the last resort for the bulls.

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FOREX - CRYPTOCURRENCY