<p>Market Picture</p><p>Cryptocurrency
market capitalisation fell 1.2% overnight to $1.07 trillion. This level has
been the focus of attention since Sunday, reflecting the consolidation of the
participant’s strengths. The cryptocurrency fear and greed index is back in the
50s. </p><p>Since
January, periods of greed are alternating with a neutral
sentiment, not fear.</p><p>Bitcoin
continues to find support as it falls to 23k, an impressive result amid falling
markets and a stronger dollar. The first cryptocurrency remains virtually
unchanged, effectively fighting off the strong headwinds that pushed the
Nasdaq100 back five weeks ago.</p><p>Significant
signal levels on the way down for Bitcoin appear to be around $22.7K, where the
50-day moving average and the local lows from late last week are concentrated.
If this support fails to hold, the next major stop is not expected until
$21.5K, negating February’s bullish momentum.</p><p>Ethereum is
sandwiched between resistance in the 50-week average (near $1690) and the
50-day average (near $1600). A bearish victory in this local battle could
trigger a quick pullback to $1400.</p><p>Background news</p><p>France is
set to tighten licensing rules for cryptocurrency companies. The country’s
lower house of parliament has approved a set of new regulations for the
licensing and registration of cryptocurrency companies. If the bill is passed,
the changes will take effect from July 2023.</p><p>Major
stablecoin issuers, united in the Stablecoin Standard group, have announced
work to create a common set of standards to increase consumer confidence in
digital assets.</p><p>The Gamium
blockchain project’s GMM token surged 650% after it announced a partnership
with Meta and Telefonica as part of the Metaverse Activation Programme
initiative. The joint programme between the giants aims to empower and scale
startups in the Metaverse and Web3 space.</p><p>This article was written by <a target=“_blank“ href=“https://www.fxpro.com/“ target=“_blank“ rel=“follow“>FxPro</a>’s Senior Market Analyst Alex
Kuptsikevich.</p>

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

<ul><li>Prior -13.3%</li><li>Market index vs 199.8 prior</li><li>Purchase index vs 147.1 prior</li><li>Refinance index vs 469.9 prior</li><li>30-year mortgage rate % vs 6.62% prior</li></ul>

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

<p>On the daily chart below, we can
see that the market has switched to a downtrend as depicted by the cross to the
downside of the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-moving-averages-20220425/“>moving
averages</a>. The sellers are in control, but the buyers have been fighting quite
hard lately as the momentum to the downside has been fading due to the market
awaiting March economic data to see if the February data was just a blip due to
seasonal factors or the Fed has indeed slowed its rate hike cycle too early. </p><p>Gold is sensitive to the
direction of real yields as when those go up the price of gold generally falls
and vice versa. The market repricing higher interest rates weighed on gold due
to hot economic data in February, so if we keep getting strong economic reports
in March, gold is likely to fall further. </p><p>On the 4 hour chart below, we can
see that the selling momentum was fading going into March as depicted by the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-divergence-20220429/“>divergence</a> between the price and the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-macd-20220427/“>MACD</a>. It will be crucial now to watch
the economic data, because technically the price now can rally all the way up
to the 1902 level as the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-trendlines-20220406/“>trendline</a> was breached. </p><p>The moving averages have also
crossed to the upside signalling a change in the short-term trend. Today we
have the <a target=“_blank“ href=“https://www.forexlive.com/EconomicCalendar“>ISM Manufacturing PMI</a> and if the report comes out
strong, then this upward move from yesterday may have been just a fakeout, but
if the data misses expectations, we should see another rally. </p><p>On the 1 hour chart below, we can
see more closely the breakout from yesterday. The red long period moving
average and the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-support-and-resistance-20220405/“>support</a> at 1828/1830 will be the last
line of defence for the buyers. If the price falls below the trendline and the
support zone, then the breakout would translate into a fakeout and a bigger
selloff should follow. </p>

This article was written by ForexLive at www.forexlive.com.

<p style=““ class=“text-align-justify“>Against the dollar, the pound briefly erased its gains for the day in a fall to 1.2013, before keeping around 1.2040 levels now – still up 0.2% on the day. But against the rest of the major currencies bloc, the pound is now the other laggard after Bailey’s remarks <a target=“_blank“ href=“https://www.forexlive.com/centralbank/boes-bailey-further-rate-hikes-may-be-appropriate-but-nothing-is-decided-20230301/“ target=“_blank“ rel=“follow“>here</a>. The bounce in GBP/USD was also perhaps more technical, with buyers holding at the key hourly moving averages:</p><p style=““ class=“text-align-justify“>Meanwhile, EUR/GBP is seen up 0.7% now to 0.8855 while GBP/JPY is falling back under its key daily moving averages, down 0.2% to 163.29 at the moment. For some context, the latter traded to as high as 164.50 earlier in the session.</p>

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

<ul><li style=““ class=“text-align-justify“>I would caution against suggesting either that we are done with rate hikes, or that we will inevitably need to do more</li><li style=““ class=“text-align-justify“>Inflation has been slightly weaker, and activity and wages slightly stronger; emphasis is ’slightly‘ in both cases</li><li style=““ class=“text-align-justify“>If we do too little on interest rates now, we will only have to do more later on</li></ul><p style=““ class=“text-align-justify“>Dude has to learn to pick a lane. You’re the governor of the BOE. Geez. I know they are put in a tough spot towards the end of the tightening cycle but c’mon, you gotta have more conviction than this.</p>

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

<p>On the daily chart below, we can
safely say that we got a successful breakout of the falling channel. The whole
channel was <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-divergence-20220429/“>diverging</a> with the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-macd-20220427/“>MACD</a> and it’s likely that we may see
a big correction all the way up to the top of the channel at 0.96. </p><p>Before that though, the buyers
had to fight with a break of the 0.9287 <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-support-and-resistance-20220405/“>resistance</a> and are now struggling at the
0.9400 handle. If they manage to firmly break the 0.94 level, then the 0.96
handle will the next target. The <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-moving-averages-20220425/“>moving
averages</a> switched to the upside signalling a change in trend and will act as <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-support-and-resistance-20220405/“>support</a> for the buyers. </p><p>On the 4 hour chart below, we can
see that the buyers will have two strong support areas for another push to the
upside. The first comes at the orange <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-trendlines-20220406/“>trendline</a> where the confluence with the
38.2% <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-using-fibonacci-retracements-20220421/“>Fibonacci
retracement</a> level will give them a good spot to lean on with
defined risk. </p><p>In case the sellers manage to
break below the trendline, the next support will be at the 0.9287 level which
acted as strong resistance prior to the breakout. The buyers there will have
also support from the blue trendline and the daily red long period moving
average. </p><p>On the 1 hour chart below, we can
see a possible <a target=“_blank“ href=“https://www.forexlive.com/Education/chart-patterns-guide-20220125/“>double
top</a> pattern
right at the 0.94 handle. The neckline coincides with the 38.2% Fibonacci
retracement level, so a break below would give the sellers conviction for a
deeper correction to the 0.9287 level as it would be the measured target of the
chart pattern. </p><p>Today we have the <a target=“_blank“ href=“https://www.forexlive.com/EconomicCalendar“>ISM Manufacturing PMI</a> and this is generally a market
moving report. Since the “good news is bad news” now due to the market
repricing higher interest rates from the Fed, we should see a rally in case the
data beats expectations and a bigger fall in case we see a miss.</p>

This article was written by ForexLive at www.forexlive.com.

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This article was written by ForexLive at www.forexlive.com.

<p>Brokerage
apps are mobile applications that individuals use to manage their investments
and trade securities, such as stocks, bonds, and mutual funds. These apps are
provided by online brokerage firms that facilitate securities buying and
selling for their clients.</p><p>Users can
open and manage brokerage accounts, access market data, and research reports to
make informed investment decisions. They can also place, buy, and sell orders
for securities and track their portfolio performance in real time.</p><p>Overall, brokerage
apps offer a user-friendly and accessible way for individuals to participate in
investment opportunities, especially in the stock market. Below, we’ll share
more information about how brokerage apps like Pocket Option can teach you how
to trade.</p><p>How Do I Learn to Trade?</p><p>To learn how
to trade in the market, consider the following steps. First, it’s important to
research the markets and the securities you’re interested in trading, including
different investment strategies and risk management techniques. </p><p>Next, you
should choose a user-friendly brokerage app that suits your needs and has a
variety of securities to trade, low fees, and reliable customer support.</p><p>After
choosing an app, you’ll have to open an account and provide your personal
information. This includes information such as your name, address, and social
security number to complete the account setup process.</p><p>After your
account is set up, you’ll need to fund it by linking your bank account or
credit card to the brokerage app. It’s a good idea to start by practicing with
a demo account, which many brokerage apps offer. </p><p>This allows
you to trade with virtual money before investing real money, getting you
comfortable with the app’s trading platform and enabling you to test out
different investment strategies.</p><p>Once you’re
ready to start trading with real money, you can place your first trade on the
app. It’s essential to start with a small investment and gradually increase it
as you become more experienced. </p><p>Additionally,
you should monitor your investments regularly to stay up to date on market
trends and any changes in the performance of your securities.</p><p>Finally,
remember that trading always involves some level of risk, so it’s important to
do your research, set realistic expectations, and have a plan for managing your
investments. With practice and experience, you can develop your trading skills
and become a successful investor using a brokerage app.</p><p>How Can Pocket Option Help Me Trade?</p><p>Gembell
Limited established Pocket Option in 2017 and is now a binary options trading
platform with a strong reputation for reliability among its over 10 million
registered users from more than 100 countries.</p><p>Pocket
Option offers high/low options and over 100 assets, including cryptocurrencies,
stocks, and currencies. It is a beginner-friendly broker with smooth customer
support and device compatibility for web and mobile platforms. </p><p><a target=“_blank“ href=“https://pocketoption.app/“ target=“_blank“ rel=“follow“>Pocket Option Demo</a> is also available for
newbies, which can help you learn how to trade without having to invest any
real money.</p><p>The
International Financial Market Relations Regulation Centre (IFMRRC) licenses
and regulates Pocket Option. They provide traders with various risk management
tools, including stopping losses and taking profits, which protects investments
and maximizes returns. </p><p>In addition,
pocket Option is innovative in that it tracks financial metrics related to its
trading operations, such as trade volume, payouts, and overall financial
performance.</p><p>Ultimately,
Pocket Option offers competitive payouts and a variety of assets to trade for
both new and experienced traders. With a convenient platform and favorable
trading conditions, Pocket Option is an excellent digital broker for traders of
all levels.</p><p>Conclusion</p><p>Brokerage
apps are a great way to learn to trade if you’re new to the concept, especially
if you go with a platform like Pocket Option. To begin trading, download a
reputable app with the tools you need to get started.</p>

This article was written by ForexLive at www.forexlive.com.

<ul><li>I don’t think we are behind other advanced economies</li><li>There have been no disagreements between BOE and finance ministry</li><li style=““ class=“text-align-justify“>Delay to consultation on the subject had been due to „disruptions“ last autumn i.e. mini-budget fiasco</li><li>Digital pound could have huge benefits for economy and society</li></ul><p style=““ class=“text-align-justify“>He adds that there is a need to see how technology trends and the economy develop over the next few years, before assessing whether or not a digital pound would be technically feasible. For now, sure there’s no rush as other major central banks aren’t exactly pursuing it too strongly. But as mentioned before, all it takes is one to break the stigma and shift the paradigm and the rest will follow quickly.</p>

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

<p>On the daily chart below, we can
see that the sellers eventually managed to break the key <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-support-and-resistance-20220405/“>support</a> level in the 0.6850 area. This
breakout led to a deeper selloff and the sellers are now eyeing the 0.6629
level. If the sellers manage to break that level as well, then we may see the
price falling to the 0.63 handle next. </p><p>The <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-moving-averages-20220425/“>moving
averages</a> are clearly pointing to a bearish trend now and they will act as
resistance for the sellers along with the downward <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-trendlines-20220406/“>trendline</a>. Right now, the price is a bit
overextended as we can see from the price being too far from the blue short
period moving average. Generally, we can see a pullback or some ranging price
action before another push in the original trend. </p><p>On the 4 hour chart below, we can
see how the price broke with strength the support zone in the 0.6850 area. What
gave the sellers the momentum were the <a target=“_blank“ href=“https://www.forexlive.com/news/sp-global-february-flash-services-pmi-505-vs-472-expected-20230221/“>US
PMIs</a> on February 21st as those are based on the month of February
and not on the month of January like the previous reports. </p><p>The market was tentative breaking
the support, because there are talks of seasonal factors skewing the data in
January, so the PMIs gave the sellers more conviction that it may be a real
change in trend and not just a blip due to seasonal factors. </p><p>On the 1 hour chart below, we can
see that the 38.2% <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-using-fibonacci-retracements-20220421/“>Fibonacci
retracement</a> level found sellers on the first try. We may see
another push upwards today as month-end flows are impacting the FX market since
yesterday. A break of the trendline may trigger a bigger pullback towards the
0.68 handle or even higher towards the major trendline. </p><p>A break below the 0.6698 support
should give the sellers conviction for a move towards the 0.6629 level. We will
have key economic data like the <a target=“_blank“ href=“https://www.forexlive.com/EconomicCalendar“>ISM PMIs</a> this week and beats to the
expected numbers should be bearish for the pair while misses should be bullish.
</p>

This article was written by ForexLive at www.forexlive.com.