Despite an impressive rally last week, the Dollar has fallen short of meeting August’s high. Meanwhile, crypto traders are watching Bitcoin as the price breaks below $44,000 for its third time this month.
The Dollar was able to breach above 93.000 over the weekend and meet the key level of 93.430. Since then, bears were able to print a shooting star off of this level. The current daily candle will most likely close as a shooting star as well, which suggests a weaker Dollar to start the week.
Crypto bulls are facing severe pressure as bears close bearish below $44,000. Traders could see many other cryptos fall to new quarterly lows as result. If the daily for Bitcoin can close bearish, a push lower to $40,000. Price may send a good part of this month here due to seasonal tendencies.
The fundamental schedule to start this week is fairly quiet but picks up significantly on Wednesday and Thursday. Traders will have the FOMC economic projections as well manufacturing data for both the Euro and Pound. This would provide ideal volatility for quick moves and trades.
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