Bitcoin Slumps as SEC Delays SolidX ETF Decision

The selloff in Bitcoin has intensified on Wednesday morning after Tuesday’s SEC announcement of plans to delay a decision on the SolidX Bitcoin ETF. The proposed SolidX Bitcoin ETF would hold bitcoin and seek to track the cryptocurrency’s price. With the delay, the SEC now has until the end of September to make a decision. On … Read more

GBP/USD Hovers at 11 Month Lows Amid Hard Brexit Fears

Cable slumped to its lowest levels since September of 2017 on Monday, as fears over the possibility of a hard Brexit took hold. In an interview with the Sunday Times published on August 5th, Trade minister Liam Fox estimated a 60% chance of a no-deal Brexit taking place. This ‘hard Brexit’ would leave the EU and the U.K. … Read more

EUR/USD Bears Eye Yearly Low

EUR/USD is under pressure with price coming precariously near the 2018 low of 1.1508 reached on May 29th. Price is confined within a descending triangle pattern and bears are looking for a potential breakout to the downside. Looking at the weekly chart we can see that price is nearing the 50% retracement of the upmove that … Read more

Gold Falls to Lowest Levels Since July 2017

Gold prices fell to their lowest levels in over a year on Thursday, following the release of a report from the World Gold Council showing that the yellow metal has had the worst start to a year since 2009. Gold continued moving lower in early trading on Friday, reaching the shelf of support made by the … Read more

Gold Hovers at Major Support Ahead of NFP

Gold showed little reaction to Wednesday’s as-expected FOMC Statement, ending the day marginally lower. The Federal Open Market Committee voted unanimously to keep the target range for its benchmark rate at 1.75 percent to 2 percent and upgraded its assessment of the U.S. economy to ‘strong’. The downtrend in gold began in April 2018 and price … Read more