Analytics

News, Trend, & Analytics 30.03.2021

Crypto Legitimacy

Today the focus is on Brexit concerns for UK territories, Oil back up, and a major business’ support for crypto.

 

Calendar

14:00 UTC

The US CB Consumer Confidence report will be released. Forecast: 96.9. If the resulting data is below the prediction, the USD could receive negative pressure.

Assets to trade: USD/SGD, USD/NZD, USD/NOK

 

News

Britain’s foreign minister Dominic Raab traveled to Gibraltar on Monday to hold talks with the leader of the British territory about securing a post-Brexit treaty with the European Union over the future of the enclave on Spain’s southern tip. Affects GBP


U.S. budget carrier Southwest Airlines Co said on Monday it had reached a deal with planemaker Boeing Co for 100 orders for a variant of the 737 MAX aircraft, with the first 30 jets scheduled for delivery in 2022. Affects Boeing


Amazon said on Monday, deliveries were unaffected by strikes at six of its sites in Germany. Affects Amazon


Oil rose on Monday on expectations that the OPEC+ group of leading producers will keep output unchanged in May and worries that operations in the Suez Canal might take weeks to return to normal, though the ship blocking it has been partly refloated. Affects Brent


Visa Inc said on Monday it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the mainstream financial industry. Affects Bitcoin

 

Technical Analysis

Bitcoin

Visa is one of the first major credit institutions to put its faith in crypto. A positive sign for the gold of digital currencies and the industry as a whole. This push could drive new demand for the world of digital assets.

The digital currency has shown a bullish Engulfing pattern indicating a return to rising quotes.

DAX

The German index has shown a Three Outside Up pattern showing the strength of the uptrend.

Gold

The precious metal continues to trade along its support level, prices could continue to fall if they drop below the support level.

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