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How will the Personal Consumption Expenditures Price Index affect EUR/USD? Market participants will likely react to an unexpected reading in the monthly core PCE Price Index, which is not distorted by base effects. A print of 0.4% or higher in this data could support the US Dollar (USD) with the immediate reaction. On the other hand, a reading below 0.2% could have the opposite effect on the USD’s performance against its major rivals. Nevertheless, the market reaction is likely to remain short-lived. According to the CME FedWatch Tool, investors see about a 98% probability of the Fed holding the policy settings unchanged in March and price in a 20% chance of a 25 bps rate cut in May. It will likely take several soft PCE inflation readings in succession before market participants see a stronger probability of a rate reduction in May. Eren Sengezer, European Session Lead Analyst at FXStreet, shares a brief technical outlook for EUR/USD: “The Relative Strength Index (RSI) indicator on the daily chart edges lower but manages to hold above 50, suggesting that EUR/USD loses upward momentum while keeping a slightly bullish bias.” “On the downside, 1.0390-1.0380 (50-day Simple Moving Average (SMA), Fibonacci 23.6% retracement level of the November-January downtrend) aligns as the first support. In case EUR/USD makes a daily close below this level, technical sellers could take action and open the door for an extended decline toward 1.0300 (static level). Looking north, the first resistance could be spotted at 1.0520 (100-day SMA). Once EUR/USD starts using this level as support, 1.0570 (Fibonacci 50% retracement) and 1.0650 (Fibonacci 61.8% retracement) could be set as next bullish targets.”$BTC

DOGE , according to Trader Tardigrade , is testing a local top, which could indicate that the bullish momentum continues. In the past, DOGE retested old resistances before its rally continued. DOGE currently consolidates in a resistance-turned-support level , which could mean an accumulation process. This happened in the past, which translated into strong bullish thrusts with higher highs and higher lows consolidating the long-term uptrend. DOGE has consistently revisited past peak levels after major price movements. The current price position matches a previously established local peak, highlighting the market’s cyclical behavior. Each prior revisit has eventually resulted in a bullish continuation. The latest consolidation at this level signals potential strength before the next upward move. If history repeats itself, DOGE could witness another rally soon. Additionally, the boxed accumulation zone on the chart suggests consolidation before a breakout. Each prior visit to resistance levels has transitioned into support, fueling upward momentum. The market structure remains bullish, with higher highs and higher lows forming over time. The green arrow projection hints at another surge, possibly driving DOGE toward new highs. Besides historical revisit patterns, Fibonacci retracement levels provide additional confirmation of DOGE’s price behavior. Prior to possible upward continuation, the price has been able to stabilize because of the support provided by the crucial 0.786 Fibonacci level at $0.19183. The bullish trajectory is further supported by the intact ascending trend channel. Moreover, DOGE has respected Fibonacci reference points, aligning its movements with these key levels. If DOGE holds above the $0.16 to $0.19 support zone, the path to $4 remains open. Fibonacci extensions at 1.272 ($4.10357) and 1.414 ($10.04215) suggest long-term targets. Given past price behavior, such projections align with the broader uptrend. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Solana (SOL) is currently trading at $143.52, with a 3.92% increase in the last 24 hours. Its market capitalization stands at $72.83 billion, and the 24-hour trading volume has reached $3.01 billion. Solana is a highly functional open-source project that leverages blockchain technology to provide decentralized finance (DeFi) solutions. It supports smart contracts and facilitates the creation of decentralized applications (dApps). The Solana protocol is designed to facilitate fast and secure transactions, making it an attractive option for developers and users alike. Fast Transaction Times: Solana's proof-of-history (PoH) consensus mechanism enables fast transaction times, making it suitable for high-performance applications. Low Gas Fees: Solana's gas fees are significantly lower compared to other blockchain platforms, making it an attractive option for developers and users. Smart Contract Support: Solana supports smart contracts, enabling developers to build decentralized applications (dApps) on the platform. Solana has gained significant attention in recent times, with many experts predicting a bright future for the cryptocurrency. However, as with any investment, it's essential to do your own research and consider the risks involved before making any investment decisions.

The number of $BTC held in CME open interest is back down to pre-election levels. A lot of this may just be from the basis trade unwinding, but it's still nice to see the total leverage in the system get reset.