Dollar secures top spot as Monday forex markets trading begins

Bitcoin broke out of a major consolidation zone yesterday but the bulls have gone missing. The news that the SEC rejected the Bitwise ETF may have soured the mood. Now the price is still above the value area represented on the right-hand side of the chart. This is still a bullish signal and a retest may occur before a move higher.The relative strength index (RSI) indicator is still looking Stock Global forex broker positive also but it has not reached the oversold area so there still may be some room for a further upside move.The candlesticks on the four-hour chart have rejected the downside but there seems to be some conviction missing from the bulls.The next resistance target on the way up is at 9,321.73 and on the downside lookout for Stock Global forex broker 8,535.00 for support.Forex Crunch is a site all about the foreign exchange market, which consists of news, opinions, daily and weekly forex analysis, technical analysis, tutorials, basics of the forex market, forex software posts, insights about the forex industry and whatever is related to Forex.Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk appetite and the trader’s level of experience should be carefully weighed before entering the Forex market. There is always a possibility of losing some or all of your initial investment / deposit, so you should not invest money which you cannot afford to lose. The high risk that is involved with currency trading must be known to you. Please ask for advice from an independent financial advisor before entering this market. Any comments made on Forex Crunch or on other sites that have received permission to republish the content originating on Forex Crunch reflect the opinions of the individual authors and do not necessarily represent the opinions of any of Forex Crunch’s authorized authors. Forex Crunch has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: Omissions and errors may occur. Any news, analysis, opinion, price quote or any other information contained on Forex Crunch and permitted re-published content should be taken as general market commentary. This is by no means investment advice. Forex Crunch will not accept liability for any damage, loss, including without limitation to, any profit or loss, which may either arise directly or indirectly from use of such information. .

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