EURGBP Wave Analysis 19 December 2024

- EURGBP reversed from support zone

- Likely to rise to resistance level 0.8300

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EURJPY Wave Analysis 19 December 2024

- EURJPY broke resistance zone

- Likely to rise to resistance level 165.00

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Bitcoin tests $100K again

The cryptocurrency market lost 3% in 24 hours amid a sell-off in financial markets following comments from the Federal Reserve. Capitalisation fell to $3.51 trillion, and at the low it dipped below $3.48 trillion - its lowest in more than a week. The Cryptocurrency Fear and Greed Index fell to 75, also hitting lows since 11 December.

Bitcoin is once again testing the $100,000 level, this time making attempts to dip below that round level. While the magnitude of bitcoin's decline is comparable to that of stocks, it is seen as a show of strength, as bitcoin often loses more. Over the past five and a half weeks, an upward trend has formed, and Bitcoin has fallen sharply from the upper to the lower boundary, where it seemingly attracts some interest. A trend breakdown can only be confirmed with a break of the 50-day moving average, which is now through $91,700 but heading to $94,000 by the end of the week.

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*🗓 Economic Calendar at 2024/12/13 (GMT)*

07:00 🇬🇧 *⚡️ Gross Domestic Product — Exp: 0.1% | 0.1%*

07:00 🇬🇧 Industrial Production — Exp: 0.3% | 0.2%

07:00 🇬🇧 Manufacturing Production — Exp: 0.2% | 0.1%

07:00 🇬🇧 Goods Trade Balance — Exp: -16.1B

12:00 All G7 Meetings

[Updated in real time]

GBPUSD Wave Analysis 12 December 2024

- GBPUSD reversed from resistance level 1.2780

- Likely to fall to support level 1.2635

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GBPAUD Wave Analysis 12 December 2024

- GBPAUD reversed from resistance zone

- Likely to fall to support level 1.9800

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S&P 500 Wave Analysis 4 December 2024

- S&P 500 broke round resistance level 6000.00

- Likely to rise to resistance level 6130.00

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Silver Wave Analysis 4 December 2024

- Silver reversed from round support level 30.00

- Likely to rise to resistance level 32.00

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*🗓 Economic Calendar at 2024/12/05 (GMT)*

09:30 🇬🇧 Construction PMI — Exp: 53.5

12:00 All OPEC-JMMC Meetings

13:30 🇺🇸 *⚡️ Unemployment Claims — Exp: 215K*

13:30 🇺🇸 Continuing Claims — Exp: 1910K

13:30 🇺🇸 Trade Balance — Exp: -75.2B

13:30 🇨🇦 Trade Balance — Exp: -1.0B

15:00 🇨🇦 Ivey PMI — Exp: 53.1

17:00 🇬🇧 MPC Member Megan Greene Speaks