Cardano continues to gain ground, following this week’s news that the Cardano Forest, a project run by the Cardano Foundation, hit a major milestone of planting 1 million trees.
The overall trend for ADAUSD seems bearish. Price has made series of lower lows and is currently approaching the support zone between 1.56799 and 1.48254. We could see from the RSI indicator that price is almost in the overbought region and we should anticipate a possible reversal and price continuation to the downside. The MACD remains below the centreline which indicates price will likely continue bearish.
The overall trend for EURUSD is bullish. We could see that price has made a pullback to the support zone between 1.14047 and 1.13698. There’s seems to be a confluence between the FIBO golden levels and 50EMA within the support level that could push price to the upside. The MACD and RIS are above the centreline which indicates a continuous trend to the upside.
Asian share markets were choppy on Monday as a slew of Chinese economic data confirmed the deadening effect of coronavirus restrictions on consumer spending, prompting Beijing to again ease monetary policy.
A holiday in the United States made for thin trading, but that did not stop Treasury futures from sliding further and Brent crude hitting a three-year top of $86.71 a barrel.
The overall trend for CHINA50 is bearish. Price is pushing down to the oversold level on the RSI and below the centreline on the MACD indicator and also approaching the resistance zone between 14673 and 14506. We should anticipate a reversal when price hits the resistance zone.