Recent content by Forex 2020

Cotton futures are down 18 to 100 points this Monday morning. They pulled back from intraday highs, but futures still closed higher on Friday. Old crop prices ended the session 99 to 108 points higher, and new crop prices ended up by 60 to 75 points. USDA’s cash average price for cotton was a...

Week Forecast (February 1 – 5, 2021) Cotton : Uptrend scenario An uptrend will start as soon, as the market rises above resistance level 82.12, which will be followed by moving up to resistance level 85.00. Downtrend scenario The downtrend may be expected to continue, while market is trading...

EUR/USD is trying hard to extend Tuesday’s bounce above 1.2150 but in vain, as the bulls remain nervous in the run-up to the Fed showdown. The Fed is likely to strike a dovish tone, which could further weigh down on the greenback. At the time of writing, the main currency pair trades at 1.2160...

EUR/GBP takes offers near 0.8850, down 0.06% intraday, while heading into the London open on Wednesday. In doing so, the quote drops for the third consecutive day inside a falling wedge bullish chart pattern established since December 17. Considering the bearish MACD and the pair’s inability to...

Bitcoin Price Is Facing Strong Resistance After a failed attempt to clear the $35,000 resistance, bitcoin price trimmed gains and traded below $33,800. BTC even broke the $32,500 level and settled below the 100 hourly simple moving average. There was a spike below the $31,000 level, but it...

Ethereum Price is Showing Bearish Signs After testing the $1,250 support zone, Ethereum started a fresh increase. ETH broke the $1,300 and $1,320 resistance levels. It even broke the $1,350 level and the 100 hourly simple moving average. However, the bulls failed to keep the price above $1,350...

Gold and silver prices this morning are weaker. A stronger dollar today is weighing on metals prices. Silver prices are also under pressure today from concern that tighter and longer Covid lockdowns will reduce economic activity and curb industrial metals demand. Losses in gold were limited by...

In the past 3-4 sessions, there was a strong increase in Ethereum above the $1,300 resistance level. ETH outperformed bitcoin and it rallied above the $1,400 resistance level. There was also a close above the $1,400 level . Ether gained 15% and it traded to a new all-time high near the $1,476...

After forming a base above the $30,000 level, bitcoin price corrected higher. BTC managed to clear the $31,200 and $31,500 resistance levels to move into a short-term positive zone. There was a break above the retracement level from the $37,892 high to $28,809 low. It is now trading just...

Corn futures head into the weekend with double digit losses. March futures touched limit down briefly, bounced, and still closed near the session lows. The other front months were down 21 1/4 to 23 1/2 cents. News flow was mostly positive, but money flow wasn’t. EIA data showed ethanol producers...

Coffee Futures Update January,24,2021 Coffee prices on Friday posted moderate losses and robusta fell to a new 1-week low. Forecasts for weekend rain in Minas Gerais, Brazil's largest arabica coffee growing region, undercut coffee prices on Friday. A rebound in ICE coffee inventories is another...

Ripple Price Holding Crucial Uptrend Support In the past few days, ripple followed a bearish path below the $0.2100 pivot level. XRP price broke the $0.2020 support zone, but it remained well bid above the $0.2000 support level. The price is currently consolidating above the $0.2000 support and...

Ethereum price extended its decline below the $240 support level. ETH price traded close to the $235 level before the bulls took a stand. A low is formed near $234 and the price recently recovered sharply. There was a break above the $240 resistance zone and the 100 hourly simple moving average...

Bitcoin Price Could Continue Higher In the past two sessions, there were swing moves in bitcoin price below $9,800 against the US Dollar. BTC declined sharply below the $9,600 and $9,500 levels, but the $9,400 region acted as a strong support. A low was formed near $9,393 and the price recently...

Litecoin Price Could Retest $50 Earlier this week, litecoin price climbed higher above the $45.00 and $48.00 resistance levels against the US Dollar. However, LTC price failed to clear the $50.00 resistance area. A high was formed near $49.94 before the price started a sharp downside correction...