Bitcoin carnage resumes with another 10% skid

The crypto selloff deepened over the weekend as major digital currencies crashed to fresh lows. Bitcoin BTCUSD, +1.72% the world’s largest digital currency, dipped below $3,500 on Saturday for the first time since September 2017, losing as much as 15% on the day and extending its monthly loss to nearly 40%. After a brief reprieve on Sunday, the selloff has resumed on Monday with a single bitcoin BTCUSD, +1.72%  falling another 10%, heading back toward its Saturday low. It was trading at $3,639.90, down 10.1% since Sunday at 5 p.m. Eastern time on the Kraken crypto exchange. Read More @ https://www.marketwatch.com/story/bitcoin-makes-14-month-low-and-is-now-down-nearly-40-this-month-2018-11-26?siteid=rss&rss=1

Inflation may soon sink back below 2% target, San Francisco Fed says

There’s a good chance that a key inflation measure could soon fall back below Fed’s 2% target, according to new research published Monday by the Federal Reserve Bank of San Francisco. The so-called core measure of inflation, which strips out relatively volatile energy and food prices, finally hit the Fed’s 2% target in July after being persistently below that mark for years following the Great Recession. Read More @ https://www.marketwatch.com/story/inflation-may-soon-sink-back-below-2-target-san-francisco-fed-says-2018-11-26

Here’s what Fed officials are saying about the interest-rate outlook

Many Fed watchers detect a dovish shift in the message from Federal Reserve Chairman Jerome Powell and his colleagues at the U.S. central bank since the last policy meeting earlier this month. Powell and his No. 2 Richard Clarida used the analogy of being in a dark room to show the uncertainty facing the central bank. Kevin Cummins, senior U.S. economist at NatWest, thinks the Fed leadership is trying to show an open-minded approach to policy. Importantly, Fed watchers still see the central bank hiking rates by a quarter point at their meeting next month. It’s what the Fed does in 2019 that’s the real debate. Cummins expects the Fed to step away from its recent automatic one-rate-hike-per-quarter pace and be more data-dependent. Read More @ https://www.marketwatch.com/story/heres-what-fed-officials-are-saying-about-the-interest-rate-outlook-2018-11-26

WHAT ARE THE TECHNICAL CHARTS SAYING?

USD started the upward movement from the trend-line once again and now heading for 98 – 100. On the other hand bitcoin crashes below 3500 and heading for 2000. Next is the FED rate hike and inflation watch as a catalyst for the market.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.

  1. 1.00pm – Japan will release their core CPI data and is expected to be good.
  2. 9.30pm – FOMC member Clarida speaks – expect volatility. USD maintains strong.
  3. 11.00pm – US will release their consumer confidence and is expected to be good.

Market consolidates before December rate hike; be always mindful of your money management at all times.

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.

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