Economic calendar Thursday, March 25

Economic calendar Thursday, March 25

Micro-investor opinion: Cardano is higher than Bitcoin

Micro-investor opinion: Cardano is higher than Bitcoin

According to a recent survey by cryptocurrency broker Voyager Digital, US investors' outlook on Cardano (ADA) is much higher than that of the market's leading cryptocurrency, Bitcoin (BTC).

The company's digital asset investor sentiment poll, first published by the Decrypt news website, shows that 31.9% of investors surveyed are more bullish than Cardano, while 22.2% are BTC. Have been selected instead of ADA. The results came as Cardano hit a record low of $ 1.5 last month, becoming the fourth-largest currency in terms of market value.

Steve Ehrlich, CEO of Voyager Digital, said:

"Sure, everyone is talking about bitcoin these days, but to name Cardano ahead of the currency is really a big surprise."

Ehrlich added that this sentiment reflects the "passion" that the company's users have for cryptographic assets. After Bitcoin, investors had the "most bullish outlook" on Atrium (12.2%) and Polkadat (6.3%). According to him, the results show that the diversity in the cryptocurrency ecosystem has increased, because investors have more assets to choose from.

The survey of 1385 investors in the United States found that most participants expect the price of bitcoin to reach $ 51,000 to $ 60,000 by the end of this month, in addition to the fact that 80% of respondents said they intend to Buy more bitcoins this month.

The results of the Cardano poll were somewhat predictable, as the cryptocurrency has risen more than 500 percent this year, drawing the attention of small investors.

It is worth mentioning that the search for this cryptocurrency also exceeded the highest figure recorded in 2017 last month, and since then, this upward trend has continued. A Google search for a cryptocurrency is often used to assess the interest of small investors in that currency.

Cardano's price has risen to $ 1.11 after a massive correction from its highest price level of about $ 1.5.

GBPUSD Thursday, February 11

GBPUSD Thursday, February 11

In the GBPUSD weekly chart, the market is still fluctuating between the weekly support of $ 1,3503 and the weekly resistance of $ 1,3847. According to the daily chart, the pound is approaching the resistance of $ 1.3847. Meanwhile, GBPUSD weekly and daily charts show no further support up to $ 1,3503. In the GBPUSD four-hour chart, the pound is bearish and the pound is engaged in short-term resistance at $ 1.3847. This key resistor also matches well with the weekly resistors. For this reason, it can be a good place to enter into a sales deal. If a bearish return from this range occurs, the pound could move to the support of 1.3752.

Economic calendar Friday, February 5

Economic calendar Friday, February 5

Economic calendar Tuesday, January 26

Economic calendar Tuesday, January 26

 

USDJPY

USDJPY currency pair trend

The short-term trend of the US dollar against the Japanese yen is neutral. The USDJPY pair is in the downtrend channel starting from 111.71. Hence, we can expect a deep downward movement from the market. If USDJPY falls below 103.31, it could prepare for a reversal to the 102.58 price floor. However, from the buyers' point of view, the break of 104.39 and the downtrend channel will mark the end of the downtrend starting from 111.71 and can push the USDJPY to the resistance of 105.67.

EURUSD

EURUSD pair trend

 

The short-term trend of the Euro against the US Dollar is up to a slight resistance of $ 1,2222. The break of this resistance could push the EURUSD pair to the high of $ 1,2348. However, from the traders' point of view, if EURUSD falls below the support of $ 1,2052, it could indicate the entry of the currency pair into the correction phase starting from the rate of $ 1,2348. In this case, the short-term trend of EURUSD will fall to $ 1.1887 at the correction of 61.8% Fibonacci.

GBPUSD

GBPUSD currency pair trend

The short-term trend of the British pound against the US dollar is neutral. However, as long as the $ 1,3518 support remains in place, we can expect another uptrend. A break of $ 1,3745 could boost the GBPUSD short-term trend and extend the uptrend from $ 1,1409 to the 61.8% Fibonacci retracement at $ 1,3956. From the sellers' point of view, if the GBPUSD currency pair falls below $ 1.3518, it will indicate the formation of a short-term price peak. A downward divergence is seen in the four-hour MACD indicator. If this divergence works, the short-term market trend will decline.

Economic News on Saturday, January 25

Economic News on Saturday, January 25

 

Weekly Gold Analysis

 

 

Weekly Gold Analysis

Even though the strength of the global ounce uptrend has weakened, buyers still support the precious metal. Analysts are assessing the rate of economic growth due to government financial and support packages, as well as the possibility of intensifying inflationary pressures. However, according to Kitco News' weekly assessment, small investors and market participants expect future inflation to determine the trend in the gold market and ultimately push up the price of an ounce of global gold.
This week, 15 Wall Street activists took part in a weekly Kitco poll. Sixty percent of respondents predict that this week's trend will be an upward ounce of global gold. Another 20 percent predict that the market will decline and the remaining 20 percent predict that the market will be trendless. Meanwhile, 1,581 Main Street investors took part in an online poll. 67% are in favor of an uptrend, 17% are in favor of a downtrend and about 15% are in favor of a trend-free market.
The upward return of the global ounce of gold from $ 1,800 support has caused optimism among market participants. The market reacted positively to this support at the beginning of last week, but the price of an ounce of global gold continued to fall slightly. However, the gold market ended last week's trading in the $ 1855 range. Although the gold market failed to show strong momentum in early 2021, many analysts still do not want to be disappointed with the rise in gold prices, especially as the new US administration seeks to approve a $ 1.9 trillion financial package.