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Technical analysis accounts for only a smaller part of success in financial markets, while the larger part is determined by human psychology. When you sit in front of a monitor and decide whether to open a position, a silent yet fundamental battle takes place in your mind. The difference between cold calculation and an emotional impulse is often thin, while the ability to recognize your own mental state at this single moment separates consistent investors from those who gradually wipe out their account.
Bitcoin surged past $71,500 on Monday following President Donald Trump’s announcement of a five-day pause on strikes against the Iranian energy sites. However, despite this sharp rebound, Bitcoin is having difficulty maintaining upward momentum, suggesting that sellers are still active.
Volatility has gripped markets throughout this month. Looking ahead, geopolitical tensions in the Middle East and concerns about inflation continue to be the main factors influencing market activity this week.
AUD/USD is attempting to stabilize around 0.7090 after a strong rebound on Thursday. However, it is premature to conclude that the consolidation phase dominated by the Aussie has ended.
Gold price extended its sell-off during the early NY trading session, hitting a fresh multi-week low of $4,520. The strength of the US dollar and the Federal Reserve’s hawkish stance were the main negative factors pressuring gold prices.
Bitcoin has declined for the second consecutive day due to uncertainty regarding central bank actions. As of this writing, Bitcoin is trading below $72,000.
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