Tag: short-covering

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Sticks to gains above 0.5600 ahead of US NFP

The post Sticks to gains above 0. 5600 ahead of US NFP appeared com. The NZD/USD pair gains some positive traction on Thursday and recovers a part of the previous day’s heavy losses to the lowest level since April 9. Spot prices stick to intraday gains above the 0. 5600 mark through the early European session, though a sustained US Dollar (USD) buying might cap the upside ahead of the delayed release of the US Nonfarm Payrolls (NFP) report for September. From a technical perspective, the recent downfall witnessed over the past two months or so along two converging trend lines constitutes the formation of a bullish falling wedge on the daily chart. That said, the recent repeated failures to build on the move beyond the 50-day Simple Moving Average (SMA) and negative oscillators warrant some caution before positioning for any further near-term appreciating move for the NZD/USD pair. Meanwhile, any subsequent move up is more likely to confront a stiff barrier near the 0. 5665-0. 5670 region, representing the top boundary of the falling wedge. Some follow-through buying could trigger a short-covering rally and lift the NZD/USD pair to the 0. 5700 mark en route to the 50-day SMA pivotal resistance, currently pegged near the 0. 5765 region. A sustained move beyond the latter will confirm that spot prices have bottomed out. On the flip side, acceptance below the 0. 5600 round figure and a subsequent break through the falling wedge support, around the 0. 5570-0. 5565 region, will be seen as a fresh trigger for bearish traders. The NZD/USD pair might then accelerate the downfall towards testing levels below the 0. 5500 psychological mark, or a multi-year low touched in April, and prolong a nearly four-month-old downtrend. NZD/USD daily chart New Zealand Dollar FAQs The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the.

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Bitcoin Rebounds as Polymarket Traders Bet U.S. Shutdown Will End Within Days

The post Bitcoin Rebounds as Polymarket Traders Bet U. S. Shutdown Will End Withcom. Good Morning, Asia. Here’s what’s making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U. S. hours and an overview of market moves and analysis. For a detailed overview of U. S. markets, see CoinDesk’s Crypto Daybook Americas. BTC and ETH rebounded overnight as traders bet the U. S. government shutdown will soon end, lifting risk sentiment after a volatile week. Bitcoin rose 4. 2% to $106,269, while Ethereum gained 7. 4% to $3,643, according to CoinDesk market data, recouping some of last week’s losses as macro uncertainty eased and liquidity returned to majors. On Polymarket, odds of the government reopening on November 12 surged after Senate negotiators reached a bipartisan deal late Sunday. The agreement funds the government through January 30, reverses recent federal layoffs, and guarantees a December vote on extending Affordable Care Act tax credits, provisions that secured at least eight Democratic votes in favor. The shift marks one of the sharpest sentiment reversals of the year. Just 24 hours earlier, traders saw a 63% chance the shutdown would drag beyond November 16 and into Thanksgiving. Now that President Trump has told reporters “we’re getting close to the shutdown ending,” markets are treating a resolution by mid-week as all but certain. Air travel and welfare programs remain disrupted in the meantime, with the FAA ordering a 4% reduction in flights that has caused thousands of cancellations and the USDA halting food-stamp payments. But with Washington finally nearing a deal, both equities and crypto are signaling relief after weeks of paralysis. Even though the U. S. government looks to be on the verge of reopening, there are some wrinkles that still impact crypto. For example, traders are skeptical that the SEC will have time to approve a Cardano ETF before the end of the year. Just.

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