Analytics

News, Trend, & Analytics 11.05.2021

Ethereum to the Moon

Today the focus is on oil’s cyberattack, easing UK lockdowns, and Ethereum through the roof.

 

Calendar

9:00 UTC

The German ZEW Economic Sentiment for March will be released. Forecast: 72.0. If the results are higher than anticipated the EUR could receive a positive push.

Assets to trade: EUR/USD, EUR/NZD, EUR/CHF


14:00 UTC

The US JOLTs Job Openings for March will be published. Forecast: 7.500M. If the results are lower than expected, the USD could receive a negative push.

Assets to trade: USD/NOK, USD/MXN, GBP/USD

 

News

Oil and gas prices jumped after the attack on Colonial Pipeline last week, described as one of the most disruptive digital ransom schemes ever reported. Affects Brent


Cryptocurrency Ethereum broke $4,000 for the first time on Monday, climbing to a new peak for the third day in a row on bets it may find new uses, although some analysts said it was overvalued at current levels. Affects Ethereum


British Prime Minister Boris Johnson set out the next phase of lockdown easing in England, giving the green light to “cautious hugging” and the serving of pints inside pubs after months of strict restrictions. Affects GBP


Germany is to make Johnson & Johnson’s COVID-19 vaccine available to all adults, Health Minister Jens Spahn said on Monday. Affects Johnson & Johnson


Copper raced to a new record peak on Monday as investors worried about missing out on further gains while some industrial users bit the bullet after waiting for lower prices. Affects Copper

 

Technical Analysis

Ethereum

The second most popular cryptocurrency broke $4,100 on Monday with momentum being stoked from hopes of new future uses from the blockchain platform. When Elon Musk said Dogecoin was a hustle its value plummeted 30% but that buoyed other major players in the market.

Prices are on a clear uptrend with little sign of slowing down.

DAX

The German index has turned its resistance level around 15316 into a support level.

NASDAQ

The US index has turned its support level into a resistance level, indicating a possible continuation of the downtrend.

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