Analytics

News, Trends, & Analytics 26.08.2021

Bitcoin’s Rally Stop

Today the focus is on Switzerland buying more vaccine shots from Pfizer, South Korea curbing Apple & Google commission dominance, and Tesla Model Y hitting Europe.

 

Calendar

12:30 UTC

The US Initial Jobless Claims measures will be released. Forecast: 350K. If the data is higher than expected, the USD could receive a negative push.

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

 

News

Switzerland has signed an agreement with Pfizer to purchase 14 million more vaccine doses. Affects Pfizer


Tesla Model Y hit Europe much earlier than expected, contributing positively to the company’s growth. Affects Tesla


Bitcoin’s most recent rally lost its momentum, starting to drop once again, reaching below $48,000. Affects Bitcoin


Exxon Mobil announced that its majority-owned affiliate, Imperial Oil, is moving forward to produce renewable diesel at its Canadian facility. Affects Exxon Mobil


A South Korean parliamentary committee voted to ban Google and Apple from forcibly charging software developers commissions on in-app purchases. Affects Apple

 

Technical Analysis

Bitcoin

Bitcoin recently picked up its slack, starting a rally that brought its price back from $35,000 to $50,000. This trend was caused by positive news regarding crypto acceptance across the world. At the same time, it seems that the momentum behind Bitcoin’s growth has ended.

BTC is moving in a downwardly sloped price channel, even though its price only just finished its upwards correction.

EUR/JPY

The pair is entering a downwards correction after a sharp spike in price.

Apple

The company’s stock price rebounded from its new support level and is currently moving upwards inside the price channel.

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