Fresh Highs in Cryptocurrencies While U.S. Dollar Consolidates

Monday’s best performer was the British pound which rose towards 1.3580 amid a weakening U.S. dollar. Our long entry at 1.3520 has thus proved profitable. We continue to see a short-term resistance at around 1.3615 in the GBP/USD.

EUR/USD: Buyers were able to take some profits yesterday but the upward move was limited to a high of 1.1595. We may see a renewed test of 1.1615 today. A current support is however seen at 1.15.

In the crypto world we saw fresh record highs with Bitcoin jumping above 68,000 and ETH/USD testing the 4800-price-area. Tests of 70,000 in BTC/USD and 5,000 in ETH/USD wouldn’t come as a surprise before a pronounced correction is due.

Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

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