<p style=““ class=“text-align-justify“>I already highlighted the situation earlier <a target=“_blank“ href=“https://www.forexlive.com/news/dollar-selloff-runs-into-a-checkpoint-20221117/“ target=“_blank“>here</a> and we are seeing more of that in European trading today, as traders start to dial back the post-CPI selloff in the dollar. As we meet key technical levels, it is now a question for markets whether or not we are done with the retracement/correction and is there still bullish appetite for the dollar moving forward?</p><p style=““ class=“text-align-justify“>From a fundamental standpoint, not much has changed as the Fed continues to reaffirm that it will hike rates further even though they are also now opening a bit of a gap in the door towards slowing the pace of future rate hikes. Meanwhile, all other major central banks are either equally as dovish or even more so. So, that should keep the dollar in a good spot right?</p><p style=““ class=“text-align-justify“>Well, yes and no. On the one hand, the dollar is still the cleanest shirt among the dirty laundry. But considering how being long the greenback has been the consensus trade for almost the entirety of the year so far, it puts a lot of emphasis on any change in the narrative for the currency as such.</p><p style=““ class=“text-align-justify“>In other words, the dollar will find its previously easy gains harder to come by now but unless we do see major technical levels break one after the other, it is still in with a good shot to come back up after the latest drop in the past week. I’ll be highlighting the technicals in my next post.</p>

This article was written by Justin Low at forexlive.com.

<p>Crypto Market
picture</p><p class=“MsoNormal“>Bitcoin
moved between $16.3K and $17.0K on Wednesday and is changing hands Thursday
morning closer to the lower bound of yesterday’s range. Some pressure on crypto
comes from more wary financial markets, where major indices are down. </p><p class=“MsoNormal“>The total
capitalisation of the crypto market has fallen by 1.7% to $830bn in the last 24
hours. However, the overall quieter trading pattern should be noted after the
surge in volatility in recent days.</p><p class=“MsoNormal“>Crypto Fear
and Greed Index was down 3 points to 20 by Thursday and remains in a state of
„extreme fear“.</p><p class=“MsoNormal“>On the
technical analysis side, Bitcoin’s failure to cross $17.0K looks like a
corrective rebound to lock in profits before a new round of declines. This
scenario will only become main after the price
approaches local lows near $15.8K, opening the way to $12K.</p><p class=“MsoNormal“>Ethereum is
under more pressure, forming a sequence of declining intraday extremes. At the
current price near $1200, we can see the dam-breaking effect at levels below
$1100.</p><p class=“MsoNormal“>A similar
pattern is seen in the overall cryptocurrency market capitalisation chart,
where we see local reversals from lower levels.</p><p>Crypto News
background</p><p class=“MsoNormal“>According to
The Wall Street Journal, crypto lending platform BlockFi is preparing to file
for bankruptcy. The company has acknowledged significant exposure to the FTX
exchange. Last week BlockFi suspended customer withdrawals.</p><p class=“MsoNormal“>The collapse
of FTX affected too many companies, which could extend the crypto winter to the
end of 2023, according to cryptocurrency exchange Coinbase. Many institutional
funds are stuck on FTX, causing increased distrust in the industry. Stablecoins
dominance has reached a new high of 18%.</p><p class=“MsoNormal“>Bitcoin will
fall heavily in November and hit „the bottom“, forecasts Pantera
Capital’s crypto fund. BTC will then rise to $36,000 ahead of the next halving
in March 2024 and continue to grow to a new record peak of $149,000.</p><p class=“MsoNormal“>According to
the average results of a survey conducted by BDC Consulting among 53
cryptocurrency executives, bitcoin will stop the decline at $11,479. Meanwhile,
over half of top executives intend to increase their investments in
cryptocurrencies and have no plans to cut back.</p><p class=“MsoNormal“>This article was written by <a target=“_blank“ href=“https://www.fxpro.com/“ target=“_blank“>FxPro</a>’s Senior Market Analyst Alex Kuptsikevich.</p>

This article was written by FxPro FXPro at forexlive.com.

<p style=““ class=“text-align-justify“>S&P 500 futures are now down 7 points, or 0.2%, with 10-year Treasury yields being up 3.6 bps to 3.730% now. That is a bit of a contrast to earlier in the session where the former was up by around 0.5% and the latter down 1 bps to 3.684%. The switch over in the mood is now seeing the dollar hold slightly higher against the major currencies bloc.</p><p style=““ class=“text-align-justify“>EUR/USD is down 0.3% to 1.0360 levels while USD/JPY has turned a drop to 138.90 to rise up to 139.65 at the moment. Meanwhile, GBP/USD is down 0.2% to 1.1880 but the biggest loser is AUD/USD, which is down 0.7% to 0.6690 – contesting its 100-day moving average at 0.6695 currently. I pointed out some of the technical considerations earlier in the day here:</p><ul><li><a target=“_blank“ href=“https://www.forexlive.com/news/dollar-selloff-runs-into-a-checkpoint-20221117/“ target=“_blank“>Dollar selloff runs into a checkpoint</a></li></ul>

This article was written by Justin Low at forexlive.com.