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BTC/USD and ETH/USD Technical Analysis
Bitcoin against the dollar on the H4 time frame. This is the best time frame, in my opinion, to analyze this pair. The upper horizontal blue line represents the previous day’s high. As you can see, the price has found resistance at this level almost five times in the last 10 days. Once the price breaks this level, we are likely to see a strong bullish trend. Always be cautious of fake breakouts! The lower horizontal red line represents the previous daily low. Today, the price is right on that level, making it relevant. In the same area, we have a very important support trend line. The previous daily high ... (full story)
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The Conference Board Consumer Confidence Index® increased in November to 102.0 (1985=100), up from a downwardly revised 99.1 in October. The Present Situation Index—based on ...
post: *FED'S WALLER: INCREASINGLY CONFIDENT POLICY IS WELL POSITIONED *WALLER: POLICY HELPED RAPID INFLATION IMPROVEMENT IN LAST YEAR post: WALLER: CANNOT NOTE FOR SURE IF FED HAS DONE ENOUGH; DATA OVER NEXT COUPLE MONTHS WILL HOPEFULLY TELL WALLER: 'ENCOURAGED' BY SIGNS OF MODERATING ECONOMIC GROWTH WALLER: INFLATION STILL TOO HIGH, TOO EARLY TO NOTE IF SLOWING WILL BE SUSTAINED WALLER: PREMATURE TO RELY…Waller: Something Appears to Be Giving Last month, I gave a speech entitled "Something's Got to Give."1 That message was prompted by the fact that we were observing strong economic growth and employment data in the third quarter, while simultaneously seeing a clear moderation in core personal consumption expenditures (PCE) inflation. While this was good news for employment growth, the pace of real economic activity seemed inconsistent with continued progress toward the Federal Open Market Committee's (FOMC) goal of 2 percent inflation. It seemed clear to me then that something had to give— for inflation to continue falling to our 2 percent target, the economy needed to slow from its torrid third-quarter pace. If it did not cool off, then it was likely that progress on inflation would stop or even reverse. So, what remained to be seen was whether the economy would cool or inflation would heat up. I am encouraged by what we have learned in the past few weeks—something appears to be giving, and it's the pace of the economy. Data for October indicated an easing in economic activity, and forecasts for the fourth quarter show the kind of moderation that is more in keeping with progress on lowering inflation. In addition, after watching core PCE inflation increase in September from its summer lows, the latest data showed inflation moving in the right direction in October, albeit gradually. While I am encouraged by the early signs of moderating economic activity in the fourth quarter based on the data in hand, inflation is still too high, and it is too early to say whether the slowing we are seeing will be sustained. But I am increasingly confident that policy is currently well positioned to slow the economy and get inflation back to 2 percent. That said, there is still significant uncertainty about the pace of future activity, and so I cannot say for sure whether the FOMC has done enough to achieve price stability. Hopefully, the data we receive over the next couple of months will help answer that question. Let's start by updating the picture on economic activity. The initial estimate was that real gross domestic product (GDP) grew at a vigorous 4.9 p
post: Fed's Goolsbee: ‘Overall’ Progress Made On Inflation post: GOOLSBEE NOTES INFLATION COMING DOWN BUT NOT YET BACK TO TARGET
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- Posted: Nov 28, 2023 9:13am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 174