Bitcoin and Dollar Bearish as Euro Experiences Upward Movements

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Last week at the FOMC Press Conference, it was revealed that 12 of the 18 Fed policymakers see at least 2 more quarter-point rate increases before the end of the year and this was met with bearish sentiment for the Dollar.

The BoJ has maintained its ultra-dovish policy stance which is an outlier compared to other major economies but comments from Governor Ueda suggest that if the Japanese economy has a dramatic “spike” in inflation then they will consider hiking rates.

The EU raised rates by 25 basis points last week with CPI data coming out at 6.1%.

This week, we will see the Fed Chair speak twice which is sure to bring some clarity to what monetary policy we should expect in the coming months.

In today’s DIFX Analytics, we’re going to look into the following assets:

Swiss Franc


Bitcoin is still within the bearish trend which it has found comfort in for the past couple of months.

Bitcoin maximalists expect a bullish break-out towards $30,000 while bearish analysts are spreading fear of this decrease in price.

It’s pretty clear on the chart that even though the SEC is going after major exchanges, this has had no critical effect on price action.


Swiss Franc

USD/CHF is currently trending upward as the Dollar started the week with some strength. A bearish crossover between 50 and 200-EMA on the 4-hour chart is imminent.

RSI is approaching the 50 level which could be a signal of a reversal.

As all these indicators signal bearish momentum, we also see price action hitting an upper resistance trend line which could be an entry for a short position towards $0.89012.


Gold is range-bound and a heavy week of data was not enough to push the asset into either bullish or bearish sentiment.

Against consensus, the metal is still consolidating after a pause in rate hikes and a hawkish view on the policy from the Fed.

In the short term, the Fed is most likely going to hike with a 72% projection which is bearish for Gold. In the long term, there will be a pause in rate increases and eventual cuts will come into play which can be considered bullish for Gold.


EUR/USD indicates a bullish sentiment on technical indicators. There has been a bullish crossover on the EMA’s. RSI is trending upward as price increases.

This has been a consistent trend for the FX pair and we could expect resistance at $1.10 if the trend continues.

The Euro is strengthening on the back of expectations of more rate hikes going into the second half of the year.


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