EURAUD

For the past four months, the EURAUD has been trading within a range between 1.6200 and 1.7100, suggesting that it might currently be in a range trading mode. This week, the price faced difficulty surpassing recent peaks just below 1.6900, reaching a high of 1.6845 on Monday. These levels could pose resistance if tested again, before reaching the 2-year high at 1.7065. On Wednesday, the price dipped but didn't reach the 100-day Simple Moving Averages (SMA) near 1.6550, which could provide support in case of another sell-off.

Looking further down, potential support levels could be found at previous lows of 1.6445 and 1.6320, followed by a potential support zone between 1.6235 and 1.6265. The close grouping of the 10-, 21-, 34-, 55- and 100-day Simple Moving Averages (SMA) between 1.6550 and 1.6710 further supports the perspective of range trading.

EURUSD Pair Analysis: Bulls Eye R1, Bears Target Bearish Channel

The EURUSD currency pair is currently testing the S1 support and the upper line of the previously broken channel. A close above the pivot could signal a bullish trend, with R1 as the potential target.

Conversely, if the S1 support is broken, the pair could re-enter the bearish channel, continuing the selling bias. Stay updated for more EURUSD market trends.

Gold prices hit $2000 as Middle East tension escalates

As tensions rise in the Middle East, gold prices have shot up over $2000 due to increased fighting on the ground.

While all eyes are on the shifting situation, gold has jumped over the crucial $2000 level because of the growing battles. At the same time, oil prices have stabilized above $83, as people investing in the market are on alert for any interruptions in supply from this key oil-producing area. This week is also important because big banks like the Federal Reserve, the Bank of England, and the Bank of Japan will make decisions on interest rates, which could shake up the markets even more. Investors and market experts around the world are paying close attention to these developments as they influence the economy.

EURGBP

The EURGBP pair has broken the bearish trendline on the daily chart, indicating a bullish bias. The 4H chart shows it trading above the Ichimoku cloud and weekly pivot, suggesting potential gains.

However, a close below S1 support (0.869) would negate this bullish scenario.

USD/JPY Market Sentiment: Bullish Post-BoJ, Eyes on Fed

Tuesday's trading session saw the USD/JPY currency pair surge, reclaiming territory above the pivotal 150.00 mark. This upswing effectively diminishes the losses witnessed in the preceding two days. The yen displayed a broad weakening, a direct response to the Bank of Japan's reaffirmation of its ultra-easy monetary policy aimed at bolstering the domestic economy. In a notable policy adjustment, the BoJ subtly altered its stance on yield curve control, now referencing the 1% cap on the 10-year Japanese government bond yield as a guiding figure rather than a strict limit.

Inflation Projections and Economic Data Weigh on Yen

The BoJ's upward revision of inflation forecasts for the fiscal years 2024 and 2025 hints at a gradual setup for exiting its loose monetary policy. However, this adjustment has not been enough to rally support for the yen, especially against a backdrop of disappointing Japanese industrial and retail data for September.

US Dollar Demand and Fed Expectations Fuel Rally

On the other side of the pair, the US dollar is finding robust support, spurred by the market's belief in the Federal Reserve's commitment to its tight monetary policy, including the possibility of further rate hikes in 2023. Remarks from Fed Chair Jerome Powell about persistently high inflation and the potential for additional rate increases have kept US bond yields near the 5.0% mark, underpinning the dollar's strength.

Caution Ahead of FOMC Meeting

Despite the bullish momentum, there's caution in the air as speculation about potential Japanese intervention to curb yen depreciation persists. Traders are also adopting a wait-and-see approach in anticipation of the Federal Open Market Committee's (FOMC) meeting. The Fed's decision, due on Wednesday, is expected to hold steady, but any signals on future rate adjustments will be pivotal for the currency pair.

Bullish Indicators and Resistance Challenges

From a technical standpoint, the USD/JPY's resilience below the 200-period Simple Moving Average on the 4-hour chart has set a bullish tone. Daily chart oscillators are gaining positive momentum, suggesting room for further upside. However, traders should watch for resistance near the daily highs around 150.35-150.40, with the year-to-date peak and the 151.00 mark as key levels to breach for continued ascent.

Support Levels to Monitor on Pullbacks

Conversely, a retreat below 150.00 could find solid ground near the 100-period SMA on the 4-hour chart at approximately 149.60-149.55. A decisive drop below this could open the path to 149.00 and potentially challenge the bullish outlook. Should selling pressure intensify, the pair may test the monthly low around 147.30-147.25, recorded on October 3, which would tilt the market sentiment towards the bears.

GBPJPY

The GBPJPY pair has broken through the bearish channel on the daily chart and is currently trading above the pivot point of 182.9. The Relative Strength Index (RSI) indicator is hovering above the 50 level, suggesting that the bulls have regained control.

Looking closer at the GBPJPY 4-hour chart, we can see that the bulls are facing a barrier at 183.7. If the GBPJPY price can break this level, it will clear the path towards R2.

However, if the price fails to breach this resistance, it could result in the GBPJPY price returning to the bearish channel depicted on the daily chart.

Gold

Gold is currently undergoing a test of its support level at $1,970. Interestingly, it's trading below the pivot point in the market. The Relative Strength Index (RSI) is showing signs of divergence, indicating a potential correction in the price of gold. This correction could possibly extend to a level of $1,934.

GBPAUD

The GBPAUD couldn’t hold above the weekly pivot (1.917) in the 4H chart, and the pair slumped to the significant support at 1.9. Moreover, the GBPAUD formed a bullish long wick candlestick pattern in the daily chart, and the RSI indicator shows divergence. These signals can be interpreted as a trend reversal or an imminent correction in the price.

S1 provides support to the bullish scenario. As long as the price holds above 1.899, it is likely for the GBPAUD price to rise and test the weekly pivot again.

On the other hand, if bears close below S1, the bullish scenario is invalidated and the path to S2 will be cleared.

EURJPY Technical Analysis

The EURJPY currency pair is trading within a daily bullish channel and it tested the middle line of the channel in the previous day’s candle. Today, the EURJPY had a pullback to the pivot. With the RSI indicator hovering above the 50 level, it is likely that the bulls will push the EURJPY price to R1 (162.7), followed by the upper line of the channel or R2 (165.0).

The main support for our bullish EURJPY forecast is S1 (156.28). If this level breaks, the uptrend is likely to end and we might see a trend reversal. However, this is unlikely due to the Bank of Japan’s current interest policy.

FTX Bitcoin Theft: New Movement Detected

A new chapter unfolds in the ongoing FTX Bitcoin theft saga. Blockchain analysis group PeckShield has alerted the community with a recent discovery. They've traced another batch of Bitcoin, which was part of the assets stolen from the now-defunct FTX.

The FTX Bitcoin theft has seen the hacker orchestrate a move of about 288.8 Bitcoin, currently valued at nearly $10 million.

Evaluating the Extent of the FTX Bitcoin Theft

Looking back, the once-prominent cryptocurrency exchange FTX crumbled in November last year. Amidst the chaos, an anonymous hacker seized the moment, orchestrating a heist that resulted in the loss of roughly $500 million in cryptocurrencies. This individual didn’t waste time, quickly converting the stolen assets into 180,000 Ethereum, which were then scattered to 12 separate wallets. At the time of this distribution, the Ethereum amassed was worth about $200 million.

The aftermath of the FTX Bitcoin theft turned the hacker into a significant Ethereum stakeholder. In a strategic move later that November, the hacker converted 50,000 ETH to Ren Bitcoin (RenBTC), a variant of Bitcoin on the Ethereum network.

Recent Attempts to Liquidate Stolen Ethereum

U.Today has reported on attempts made this year to launder the stolen Ethereum. The FTX Bitcoin theft perpetrator tried to exchange the Ethereum for tBTC on the ThorSwap DeFi platform in early October. The platform promptly shut down to prevent this, highlighting the vulnerability of DeFi systems to such exploitation.

Undeterred, the hacker pivoted to the Threshold Network, successfully transferring the Ethereum into the Bitcoin network. At that point, the FTX Bitcoin theft culprit had approximately 110,000 ETH in their possession, worth about $180 million.

Following the suspension of ThorSwap, Bitcoin advocate Max Keiser took the opportunity to critique DeFi for being "heavily centralized," in contrast to his views on the decentralization of Bitcoin.

Substantial Ethereum Shifts to US Exchanges

In a related development, cryptocurrency tracking firm Whale Alert has noted large Ethereum movements. In recent activity linked to the FTX Bitcoin theft, substantial sums of Ethereum were transferred to major US exchanges such as Coinbase and Kraken.

Despite the tumultuous market, Ethereum showed impressive growth of 18.14% from October 20 to October 26, reaching a high of $1,848. This increase paralleled Bitcoin's climb above $34,000. Post-surge, Ethereum recorded a modest 2.84% decrease but continues to maintain its strength around the $1,800 threshold, still feeling the ripples of the FTX Bitcoin theft.a

EURNZD Outlook: Downward Momentum Gains Traction

The EURNZD currency pair is currently facing a challenge at the 1.798 pivot point, having already descended below the Kernel line on the daily chart. The RSI's crossing of the middle line signals an intensifying bearish outlook for the EURNZD.

Detailed Analysis on the 4-hour Chart

For a more detailed view, we shift our focus to the 4-hour chart. Here, the market trend is clearly bearish, with EURNZD trading under the Ichimoku cloud. The pair is currently challenging the 0.382 Fibonacci retracement level. If it falls below this level, we might witness the fall extend to the 50% and subsequently the 61% Fibonacci retracement levels.

The Ichimoku cloud poses a resistance. To counter the bearish forecast, EURNZD bulls would have to achieve a close above the cloud.

SEC Crypto Regulation Challenged by Senator Lummis' Stand

Senator Cynthia Lummis from Wyoming is standing up to the Securities and Exchange Commission (SEC), which is really cracking down on crypto companies. Talking to Yahoo Finance, she made it clear she's not happy with how the SEC is handling things. She's especially against a new rule the SEC wants to make official without asking Congress first.

SEC's Tough Actions

Recently, the SEC has been really tough, taking legal action against big crypto companies like Coinbase and Binance. A rule from the SEC, made in March 2022, is getting a lot of attention from Senator Lummis. It says companies that look after crypto for customers have to show these in their financial reports and tell investors about the risks.

But, the Government Accountability Office (GAO) said the SEC should've asked Congress before making this rule. Senator Lummis is now working hard to stop this rule from being set in stone. She believes it's just too much and could be bad for people if a crypto company goes under.

Pushing for Clearer Rules

Senator Lummis is not just talking; she's doing things. With Senator Kirsten Gillibrand from New York, she's pushing a big crypto law to make things clearer. They're trying to sort out small differences between the Senate and House versions, mainly about stablecoins, which are a type of crypto. She's hopeful that by early 2024, they'll pass the law. They even got a part of it into a big defense spending bill to address terrorist groups using crypto.

Concerns Over SEC's Bulletin

Last week, a Democrat, Representative Wiley Nickel, called out the SEC for how it's managing the new rule. He's worried it could make digital assets less safe. Others in Congress are also worried. Representative Patrick McHenry thinks the rule could scare financial companies away from crypto.

In short, there's a lot of back and forth about the SEC's role in regulating crypto, and Senator Lummis is at the center, fighting for a balance that keeps everyone's interests in mind.