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FXProimus has summarized the important market indicators of the day.

Today’s Important Indicators

Price action was considerably higher in the Tuesday session following an increased appetite in panic trading amid Italian politics and end-of-month repositioning.

European and British markets declined while commodities entered an indecision mode.

Euro-wide eco data in focus today, US GDP will set the tone for the next few days until Friday’s NFP.

Today’s Forecast for Important Trading Indicators

  • BTC/USD – Bitcoin price stops and reverses at 78.6% Fibonacci dip, next few days critical. Bitcoin price finally saw a “green” day yesterday following a rejection at the 78.6% dip at $7166. With the first bullish candle after a number of bearish sessions investors may start buying the cheap coin before it becomes more expensive.
BTC/USD 4-HOUR CHART

MARKET MOVERS

  • EUR/USD – Euro declines to $1.1545 support as Italian risk prevails, sell-off may continue. Euro-Dollar fell to $1.1545 strong support yesterday due to a number of political concerns affecting the European currency. Italian risk, a slowing EU economy, ECB’s stimulus and political uncertainty in Spain are likely to keep pushing the Euro-Dollar rate lower while traders eye Thursday’s inflation.
EUR/USD DAILY CHART
  • GBP/USD – British Pound decisively below $1.33, support break alarming following a 6-month low. Sterling depreciated by 100 pips in the Tuesday session following the wide sell-off in Euro and the shift to risky Dollar. While Dollar rose, Pound remained under pressure. By day’s end, the Dollar gave up some of the earlier gains as CB disappointed on a downward revision, with Cable closing the session on a 65-pip loss. Chartists now shift their focus on the 50% Fibonacci level a tad lower.
  • USD/JPY – Dollar slides below 109 against Yen as most traders choose to diversify to safe-haven. The dollar declined for another session against Yen despite the US currency Index seeing gains, as traders selected Yen to reduce risk appetite. With CB reporting poor Confidence figures, it was only a matter of “how many pips lower” rather than “will the pair end bearish intraday”. Dollar-Yen lost 71 pips, yet hit an intraday low of 130 pips near 50% Fibonacci at 108.
  • USOIL – Oil repositioning forms indecision candle as consensus appears to be unpredictable. Oil retests golden ratio for a second consecutive session, price candle ends day positive yet mixed above $66/b. With OPEC supply in the spotlight and the European melodrama persisting Oil prices are likely to provide actionable opportunities during the API and EIA reports.
  • XAU/USD – Italy signals conflicting for Gold as safe-haven Yen and risky US Dollar create uncertainty. Concerns over Italy’s political drama and US China and US NK developments kept the yellow metal stable on Tuesday. Nonetheless, the session was active and price moved into a wide range, with investors jumping into safe-haven Yen, most likely to remain until the scenery in global capital markets becomes less sensitive. US GDP may be the $1300 barrier or breaker.
XAU/USD DAILY CHART
  • US Indexes – DJ and S&P 500 plummeted by 1.58% and 1.16%, respectively.
  • European Indexes – DE 30 rose by 0.21%, UK 100 fell by 0.04%.
  • Asian Indexes – ASX 200 declined by 0.46%, Nikkei 225 plunged by 1.52%, Hang Seng trades 1.53 % lower.
  • US Equities – Bank of America plunged by 3.98%, Tesla appreciated by 1.76%
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