Watchlist: Ethereum, Bitcoin and Euro

Important News

  • At the beginning of the previous day, the use of the vaccine was discontinued after 6 cases of Johnson & Johnson coronavirus vaccine in the USA had blood clots. Upon this development, while the selling pressure on stocks increased at the beginning of the day, the declining momentum in the dollar weakened.
  • It increased the risk appetite in the market, which was higher than expected in the middle of the day. After the announcement, Wall Street regained its losses at the beginning of the day and fell again.
  • US Treasury bond yields are also under pressure, with a drop to 1.62%.
  • data remained below expectations for April. The euro rose to a 3-week high against the weakening dollar, although the data was disclosed negatively.
  • On the side, while the price completed the last day horizontally, the upward momentum increased today. 1.3800 resistance is being tested.
  • OPEC has raised oil demand expectations for 2021, pulling it from 5.89 million barrels a day to 5.95 million barrels a day. Crude oil prices rose minor upon the announcement, reaching resistance of 60.65.
  • and started to rise again with the weakening of the dollar last day. Ounce gold completed the day in the 1745 region, while silver closed with gains over 25,300 resistance.
  • In the crypto world, the rise continues. Reaching the level of 64,000, refreshing its historical peak and rising to the 1.90 zone. The peak is refreshing in the 2400 region and in the 280 region.

Technical


BTC

Bitcoin rose to the 64,000 level the other day, refreshing its historical peak. The bullish momentum is still in place, but the negative momentum mismatch on the 1H charts indicates a short term retracement. Supports 64.450 – 62.600 and 61.500 below are waiting to be tested. On the upside, Fibonacci resistances await at the levels of 65,000 – 65830 and 68900, respectively.

  • Resistors: 65.830 – 68900
  • Supports: 64.450 – 62.600

ETH

There is also a positive correlation with Bitcoin on the Ethereum charts. The price recently broke the 2150 high, rallied up to 2400 resistance and refreshed its historic high. In the short term, the Fibonacci target at the 2530 level is awaiting after the 2400 peak on the upward direction. Short term pullback movement is expected in these charts. Possible support zones are located downstream in the 2240 – 2180 and 2140 zones, respectively. In the short term, sellers appear to be dominant, in the medium term buyers.

  • Resistors: 2400 – 2530
  • Supports: 2240 – 2180

EUR

The decline of the dollar index on the EURUSD charts increased the upward momentum. In the past day, the price rose as high as 1.1955 after breaking historical resistance at 1.1917. In the short term, the price is expected to rise as high as 1.1985 after testing 1.1955 as support. Above this level, 1,2000 psychological resistance awaits. On the downside, the 4H candlestick close below 1.1955 may pull price back to 1.1935 trend support.

  • Resistance: 1,1985 – 1,2000
  • Support: 1,1955 – 1,1935

Disclaimer: Investment information, comments and recommendations contained herein are not within the scope of investment consultancy. The investment consultancy service is offered individually, taking into account the risk and return preferences of the individuals. The content, comments and recommendations contained herein are of a general nature, which are not in any way directive. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations. The author is not responsible for any gains or losses that may arise as a result of the investment, information, comments and recommendations contained herein.

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