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The market data are taken from HitBTC exchange.
global stock markets: clarity on the direction of the remains of
In the global stock markets last week, the lack of decisive movements, as uncertainty has once again gained the upper hand. Nevertheless, the seven largest markets at the end of the week in the green zone, which is an improvement for the value development since the beginning of the year. Both the Hong Kong Hang Seng Index and the Indian BSE 30 Sensex for the year is now positive.
This development can probably be chalked up to, again, the uncertainty in respect to the trade tariffs between the United States and China. And also the characteristics of a bull market are present, which are getting old. Investors hold a direction and clarity in terms of the mood on the look-out to find out what will stimulate the market as the next and in which direction. So far the year have brought reports of such clarity, but that could change at any time. Thus, the annual reports are an important indicator, you should look for in the coming week.
S&P 500 Index: he Can jump from here back to the top?
The 200-day average (in short: SMA, brown line) is an important indicator of the strength or weakness of the long-term Trends. And he’s being watched by institutional investors everywhere.
so Far, the S&P 500 has tested the 200-day SMA twice over a period of time and on several days as a Support. And this has held up well. Currently, however, is not yet clear whether the Support of the 200-line can continue to hold or whether the price is through the floor. After the course Recently came to this line, the bull signs never last more than a day.
Fortunately, if we zoom in on a smaller time window, such as, for example, the 4-hour Chart in the next picture, we can see clearly a potential bearish head and shoulder bottom pattern. A rally above the High of the last week of 2680,26 would be a burst signal. On the basis of the classic measured target for this pattern would be the target at about 2.790,20. This is at the same height as the 78,6% Fibonacci Retracement Zone, and the most recent variation high of March.
the German DAX Index: crash potential for upward movements
The German DAX Index is last week from a falling wedge-like pattern broke out. Even if it is difficult to identify the pattern as a wedge, you know, the underlying activity Similarities. In Essence, this is a case of a consolidation pattern and is considered as a bull pattern. A taste of the bull’s potential, last week we had a break to the upside, with the Index above the down trend line through the top of the pattern is a rally to lay down. Now a movement is more upward possible.
nevertheless, we want to Express here a word of warning. You can see that the 200-day average (brown line in 12.659,92), which represents the long-term Trend tends to be downwards. This is generally not a bull sign. Therefore, the overhanging weight of potential Support will dampen likely to progress more, although there is probably a short-term upside potential on this Index.
Depending on how the current rally extends, we could see a couple of early signals for a potential head and shoulder top pattern. We will, of course, need to and watch wait and see.
crypto-currencies: the Long-awaited rally
is A free-spending mood again on Friday in the crypto market returns. All the big Coins, as shown in the Chart, significant rallies over the week – some even more than 10 percent. Bitcoin has risen in the first hour in order to 1000 US dollars (808 Euro), after he is broken out of its medium term down trend line.
It is still unclear what was the trigger for this large-scale rally. However, there are a couple of developments that are likely to have encouraged buyers. Whether or not these rallies have the potential to stick, it will show on the market behavior in the next two weeks. Because the speed of this rise was probably triggered by a mass closing of Short positions, which have now changed direction.
In a report, a Fintech company from Indonesia, a Blossom of Finance, has declared that the internal Sharia has established adviser and Shariah compliance officer, crypto currencies, Blockchain and Bitcoin (BTC) under the Sharia law „be generally accepted“.
It remains to be seen whether this assessment can also keep the investigations by other Islamic financial scholars. This will be necessary in order to reach a wider acceptance within the Muslim community. It would not be unusual if the Community would be in such a subject do not agree.
Among the institutional investors there have been a number of developments that have contributed to the bearish sentiment, a bullish mood. The well-known family office of hedge Fund giant George Soros has announced that it will crypto record currencies in the assets you trade. The risk capital arm of the Rockefeller, Venrock, has also revealed that he wants to make crypto-currency investments. This has done the industry with Coinfund.
The billion-dollar venture capital investors and early crypto-currency user Tim Draper, however, has corrected its forecast for the Bitcoin on a 250,000 US Dollar (to 202,000 euros) by 2022.
IOTA (IOT/USD): still relatively strong,
IOTA had this week, the best development. He rose for the week to $ 0.39 (0.32 Euro), or 41.8 percent. He jumped up to 65 percent of his Trend-Swing Low of 0,915 US Dollar (EUR 0.74), with a two-weeks upwards, and has reached this last week, a High of 1,513 U.S. Dollar (EUR 1.22).
The Low of two weeks ago, is solid in the area of potential Support, and the strong price behavior of last week seems to confirm that. There were a number of signals that a potential Support was found. Including, for example, the long-term upward trend line (not perfect, but it is generally KursbeEmpire) and the completion of the 88,6% of Fibonacci Retracement Levels.
This is a less well-known Fibonacci ratio, which is derived from the root of 0,786. This works particularly well in crypto and Forex as well. Also, the Deep was in a smaller area of a short-term Resistance (now Support) from November of last year.
triggered The rally from last week has a bullish breakout from the long term down trend line and the 200-day average on the 4 hour Chart. The 200-line has very good confirmation of the importance of the falling trend line added. Because, as you can see, it has shown a similar Resistance-area since the middle of January.
next, we need to see the strength of confirmed, which is associated with the movement over the most recent variation high of 1.53 US Dollar (EUR 1.24). In the meantime, you can keep Pullbacks in lower price areas in the eye, in short-term rallies to enter or to open positions. In the last week have improved the chances that the recent Low of two weeks ago is the bottom of the four-month correction.
Monero (XRP/USD): break out of the bull wedge
Although the relative development of Monero was not very great – he got on place 7 of 8 – he has shown a strong bull signal. A falling wedge is a classic chart pattern that breaks out tends to be strongly upwards. This strength could be seen in the wedge breakout last week when Monero.
It is not clear whether this will be the permanent ground for this Coin, but it is a very commercial sends out a Signal. Note that the price-Support Zone has been achieved since the beginning of the correction in December, three times so far.
In view of the highs of the last week of 201,74 US Dollar (163,19 Euro), the Monero risen by up to 25 per cent from its Low of 161,10 US Dollar (130,31 Euro). Especially last week, it has risen by a remarkable 16.8 per cent and closed with 188,51 US Dollar (152,48 Euro).
Since the initial breakout already took place, one can observe the Monero on Pullbacks, where at low rates can go. A case under 161,10 US Dollar (130,31 Euro) would signal that the bullish pattern failed. Otherwise, we can expect rising prices.
The classic target for this pattern is at least 235,96 US Dollar (190,87 Euro). Nevertheless, in spite of this crypto-currency is down, a rally up to the potential Resistance around the 200-day average, which is currently 224,72 US Dollar (181,77 Euro). You should think of when your Investment or trading strategy.
The market data are taken from HitBTC exchange and the diagrams for the analysis come from trading view.