Analytics

News, Trend, & Analytics 16.03.2021

The Rise And Fall of Bitcoin

Today the focus is on the growing oil demand, post-pandemic recovery, and the recent Bitcoin slip.

 

Calendar

04:30 UTC

Japanese Ministry of Economy, Trade, and Industry releases its report on the Japan MoM Industrial Production. There are no common forecasts. Higher readings might give JPY a positive push.

Assets to trade: USD/JPY, GBP/JPY, AUD/JPY


10:00 UTC

The German ZEW releases its Economic Sentiment report. Forecast: 74.0. Higher than expected reading might give EUR a positive push.

Assets to trade: EUR/USD, EUR/CAD, EUR/GBP


12:30 UTC

The US Census Bureau releases its MoM report about Core Retail Sales levels. Forecast: -0.1%. Lower than expected readings might indicate a bearish tendency for USD.

Assets to trade: USD/JPY, USD/CAD, USD/AUD

 

News

US Airlines show signs of recovery as the number of bookings starts to rise. Affects Boeing


Bitcoin falls back sharply after setting a new price record at $61,781.33. Affects Bitcoin


Volkswagen announces its plan to expand its European electric vehicle production and infrastructure in an effort to overtake Tesla. Affects Tesla


The Chinese government has asked Alibaba Group Holding Ltd to dispose of its media assets, reports WSJ. Affects Alibaba


Brent reaches $70 as data shows the acceleration in the Chinese economic recovery. Affects Brent

 

Technical Analysis

Bitcoin

As Bitcoin hit its all-time high on the weekends, breaching $61,000 amidst the news of the US stimulus checks and positive inflation, its rally was soon replaced with the downtrend, as its price seeks a new support level.

After Bitcoin breached a major resistance level of $61,000, it now faces a correction, facing the possibility of returning back to the $55,000 level.

News, Trend, & Analytics 16.03.2021_0

AUD/NZD

After a short uptrend, AUD/NZD faces a correction and a return to the new support level.

News, Trend, & Analytics 16.03.2021_0

AMD

After the end of the strong downtrend, AMD stock faces a correction, with a possibility of an uptrend in the future.

News, Trend, & Analytics 16.03.2021_0

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