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After the meeting with US President Trump on February 28 local time ended unpleasantly, Ukrainian President Zelensky spoke with French President Macron and NATO Secretary-General Rutte on the phone. He will also attend the European Summit in London, England this weekend and meet with European leaders. Macron, who is visiting Portugal, told the media, "We must thank all those who have helped and respected those who have been fighting from the beginning." German Chancellor Scholz said, "Ukraine can rely on Germany and Europe." Spanish Prime Minister Sanchez said, "Spain stands with Ukraine." European Commission President von der Leyen and Polish Prime Minister Tusk said, "Ukraine is not alone." In addition, many European leaders have expressed support for Zelensky. But there are also leaders such as Italian Prime Minister Meroni who said that "the United States, European countries and other allies should hold a summit immediately." Hungarian Prime Minister Orban expressed support for Trump.According to the Indonesian Meteorological, Climate and Geophysical Bureau, a magnitude 6.0 earthquake occurred in the Banda Sea of Indonesia at 4:58 a.m. local time on March 1, with a focal depth of 158 kilometers.U.S. Commodity Futures Trading Commission (CFTC): As of the week ending February 25, stock fund managers reduced their net long positions in the S&P 500 CME by 35,958 contracts to 912,052 contracts. Speculators reduced their net short positions in the S&P 500 CME by 25,964 contracts to 339,937 contracts.U.S. Commodity Futures Trading Commission (CFTC): As of the week ending February 25, investors reduced their net long positions in WTI crude oil by 33,003 contracts to 39,308. NYMEX and ICE natural gas net long positions decreased by 33,920 contracts to 328,116.U.S. Commodity Futures Trading Commission (CFTC): As of the week ending February 25, speculators net long positions in COMEX gold fell by 7,604 contracts to 194,357. Investors net long positions in COMEX silver fell by 6,408 contracts to 32,993. Investors net long positions in COMEX copper fell by 8,390 contracts to 18,205.

ETH Aims for $1,700 as Investors Return Following a Sunday Break

Daniel Rogers

Nov 01, 2022 17:52

 截屏2022-11-01 下午5.00.13.png

 

Bitcoin (BTC) and ethereum (ETH) saw losses on Sunday, but concluded the week with gains of 5.42 percent and 16.63 percent, respectively. Despite the fact that expectations of a December Fed pivot provided support throughout the week, the pair experienced profit-taking on Sunday. Nevertheless, the technical indications remain optimistic, indicating additional increases in the coming week.

 

Bitcoin (BTC) declined by 0.89% on Sunday. BTC finished the week up 5.42% at $20,647, partially offsetting Saturday's 1.08% gain. Notably, Bitcoin closed the day at $20,000 for the sixth consecutive session, averting a drop below $20,000 for the fifth consecutive day.

 

After a volatile start to the day, BTC reached a high of $20,950 by mid-morning. BTC reached a late-day low of $20,532 after failing to surpass the First Major Resistance Level (R1) at $21,092. BTC momentarily breached the First Major Support Level (S1) at $20,576 before recovering partially to $20,647.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads as low as 0 pips and a commission rate of $3.50 per 100,000 USD traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

On Sunday, Ethereum (ETH) declined 1.79 percent. ETH closed the week up 16.63% to $1,591, partially reversing a 4.18% gain from Saturday.

 

ETH reached a mid-morning high of $1,640 after a positive start to the day. ETH dropped to a late-afternoon low of $1,576 after failing to surpass the First Major Resistance Level (R1) at $1,673. ETH completed the day at $1,591, avoiding the First Significant Support Level (S1) at $1,557.

 

It was a calm conclusion to a bullish week, allowing investors to lock in profits prior to a significant week on the global financial markets. On Wednesday, the Federal Reserve will announce its interest rate decision. While the markets are relying for a 75-basis-point rate hike, the crypto bulls continue to be challenged by the Fed's December plans.

 

Due to the crypto market's sensitivity to US economic statistics and the Federal Reserve, the correlation between BTC and ETH and the NASDAQ Composite Index remains intact.

 

The FedWatch Tool placed the likelihood of November and December rate rises at 86.7% and 45.5%, respectively, this morning. Prior to one week, the probability of a 75-basis-point increase in December stood at 54.9%.

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