Crypto

Stock Market: Busy Week Crypto: Ethereum Begins Bullish Recovery

TOPICS DISCUSSED IN THIS MARKET BRIEFING:

  • THEEuropean stock exchangesstart the week in red
  • Wall Street ends on recordings
  • Schedule of the day –Ethereum : double cavity

European stock markets started the week in the red

European stock exchanges opened lower on Monday, risk-averse investors prefer safe zones ahead of a busy week. The week promises to be particularly rich in corporate results and leading economic indicators, not to mention the Federal Reserve’s monetary policy meeting.

Investors will closely follow the publications of the giants LVMH, Apple, Amazon, Boeing, Deutsche Bank and many others.

Although just over one-fifth of the S&P-500 companies posted their results, 88% exceeded consensus.

Market participants will react to the Federal Reserve announcements following its two-day monetary policy meeting on Wednesday. This meeting should not lead to flashy announcements, but the Fed is expected to clarify the timing of the slowdown in the market buybacks.

The macroeconomic agenda will also be busy, especially with economic growth in the second quarter and inflation in the United States and the euro area.

Wall Street Ends Records

Wall Street closed on Friday, with the three major indexes closing at historic highs on the close, boosted by large caps and results that some social media analysts found encouraging.

After the panic last Monday, when the indices survived their worst session of the year due to concerns about the economic impact of the Delta option, Wall Street has finally posted one-week gains.

For the week, the Dow Jones rose 1.09%, the Nasdaq rose 2.84% and the S&P 500 rose 2.02%.

Consequently Dow Jones increased by 0.68% to 35,061.55 points. NASDAQ took 1.04%, and S & P-500 increased by 1.01%.

Otherfinancial market news updates

Oil prices are dropping on concerns over COVID, with a barrel of Brent losing 1.23% to $ 73.19 and a barrel of light US crude losing 1.43% to $ 71.05.

Today’s economic calendar:

Find the whole economic calendar know all the upcoming economic eventsR.

MAP OF THE DAY – Ethereum: Double Failure

Ethereum Day Chart

The cryptocurrency sector has been on the rise for several sessions. Cryptocurrency Rises Sharply On Monday That Pushed Bitcoin To Rise from +12.5% ​​to the highest level since mid-June.

As for Ethereum, it is clear that the market has finally climbed to the top of its range at $ 2,375. Moreover,inTH / USD could start a bullish U rally to win back $ 2,545, followed by $ 2,900 in the coming weeks.… Technically speaking, prices are trying to confirm a bullish reversal pattern: a double dip!

As a result, crossing the neckline in the direction of $ 2,400 will open the way for a new upward movement with a theoretical target of around $ 3,000.

Twitter @Joris Zanna

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