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6 11, 2025

Could Musk’s DOGE To The Moon Mission Reignite Bullish Momentum?

By |2025-11-06T13:22:19+02:00November 6, 2025|Crypto News, News|0 Comments

The crypto market is in a very volatile phase, Bitcoin […]

The crypto market is in a very volatile phase, Bitcoin price continues to drop, which in turn drags altcoins. The legendary meme coin, DOGE, is also bearing the brunt of the market momentum. 

Some market watchers are offering Dogecoin price predictions that the token may soon break out of its bearish rally. This forecast driven of course by Elon Musk’s recurring “DOGE To The Moon” narrative. Questions continue to arise about its feasibility; read on. 

DogeCoin Price Prediction: Are the Bearish Days Over?

Over the past few months, Dogecoin price predictions of $1 have dominated the market; however, it appears the setup may have been invalidated. DOGE lost its $0.20 to yesterday’s pullback, and its steadily recovering trading at $0.17.

Earlier, a crypto analyst, Ali Martinez, reported that over 1 billion Dogecoin $DOGE was sold by whales in the past week. This signals profit-taking and capital rotation by the whale investors who are selling off to avoid losses. 

While Elon Musk’s “DOGE to the moon” mission has been one of the catalytic factors that have pushed DOGE price since 2021, it seems the momentum has faded away. Recently, Musk has not discussed the token. From all ends, DOGE doesn’t look ready for a bullish rally, hence why the savvy investors are selling off. Also, remember that Dogecoin is a meme coin with no utility offerings, and with the recent diversification into utility-driven projects, the token is experiencing numerous liquidations.
Market observers are recommending utility-driven projects like Remittix (RTX), which has the potential to deliver exponential gains to early buyers

Remittix, The Bullish Story Of 2025

Remittix (RTX) is a PayFi platform built on the Ethereum blockchain, providing seamless cross-border crypto-to-fiat transactions in over 30 countries and supporting more than 40 cryptocurrencies.

Remittix Nov 2025

It is bridging a $19 trillion payment gap between traditional payment systems and cryptocurrency. It has a business API that freelancers, marketplaces, and SMEs can use to receive payments. 

Remittix highlights:

  • Designed for both crypto natives and non-crypto users, it can be used by business owners, freelancers, and remitters.
  • Recipients do not need a wallet; it’s fast, reliable, and eliminates FX conversion problems. 
  • The remittix team is now verified by CertiK, the #1 blockchain security firm. RTX is ranked #1 on CertiK for pre-launch Token.
  • Beta testing for the Remittix wallet is now live, with community users actively testing it.

Discover the future of PayFi with Remittix by checking out their project here:

Website: https://remittix.io/      

Socials: https://linktr.ee/remittix    

$250K Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway

Disclaimer: This content has been supplied by a third party contributor. Brave New Coin does not endorse or promote any products or services mentioned herein. Readers are encouraged to conduct independent research before making any financial decisions. The information provided is for informational and educational purposes only and should not be interpreted as investment advice.

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6 11, 2025

XAG/USD advances to $48.70, still within previous range

By |2025-11-06T11:54:20+02:00November 6, 2025|Forex News, News|0 Comments


Silver (XAG/USD) appreciates for the second consecutive day on Thursday, reaching session highs above $48.70, supported by a slight pullback in the US Dollar. From a wider perspective, however, the pair remains contained within a horizontal channel, below key resistance at the $49.35 area.

A somewhat brighter market mood has undermined support for the safe-haven US Dollar, providing a mild boost to precious metals. Nevertheless, upside attempts are likely to remain limited, as the strong US data seen on Wednesday cast further doubts on a December rate cut by the Federal Reserve, which is likely to keep the Greenback supported.

Technical analysis: Consolidating losses below $49.35

XAG/USD 4-Hour Chart

The technical picture shows Silver crawling through the last two weeks’ trading range., Oscillators show a somewhat stronger momentum, but the immediate upside bias remains frail so far, with the $49.35 area, where bulls were capped in October 23 and 31 highs, likely to pose significant resistance.

A confirmation beyond that level would give bulls fresh hopes to test the previous support in the area of $50.40-$50.60 (October 13, 17 lows). Further up the target would be the October 20 high, near $59.80.

A bearish reversal, on the contrary, would be tested at Tuesday’s low near $47.00, ahead of the $45.55 area (October 28 low). A clear break of this level would resume the broader bearish trend from four-year highs, near $55.00 hit in mid-October, and target the September 24 low, near $43.70.

(This story was corrected on November 6 at 08:41 GMT to include XAG/USD in the title and not XAU/USD and to say that Silver advances to $48.70 and not to $58.70, as it was previously reported.)

Silver FAQs

Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.

Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.

Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.

Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.



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6 11, 2025

Houjicha is Japan’s most calming cup of tea

By |2025-11-06T11:27:31+02:00November 6, 2025|Dietary Supplements News, News|0 Comments


The roasting changes everything because it burns off most of the bitterness, strips down the caffeine, and adds a toasty, almost coffee-like aroma. You don’t drink houjicha to do things. You drink it to stop doing things. It’s the kind of tea that makes you feel like you’ve hustled enough for one lifetime.

And the trivia? Oh, there’s plenty:

  • It’s Japan’s post-dinner ritual. Most families drink it after meals because it’s gentle on digestion and doesn’t mess with sleep.

  • It’s kid-friendly. In Japan, this is often the first “adult” tea kids are allowed to sip. Houjicha is basically a caffeine-free coming-of-age story.

  • It’s a chameleon. These days it is also turning up in soft-serve, tiramisu, cocktails, lattes — even doughnuts.

  • The flavour? Somewhere between toasted hazelnut, brown sugar, and the memory of something once green.

And the best part? It’s never been a show-off. Houjicha doesn’t beg to be posted. It doesn’t care if you spell it right. It’s what you drink when you’ve stopped trying to optimise your morning routine and started trying to enjoy your night. So next time someone offers you matcha, smile politely and whisper, “I’m more of a houjicha person.”

For more updates, join/follow our, and channels.



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6 11, 2025

XRP Price Prediction As Crypto Market Falls – Pepeto Presale Eyes High-Growth Potential

By |2025-11-06T11:21:24+02:00November 6, 2025|Crypto News, News|0 Comments

Final takeaway: XRP Or Pepeto In 2025? For the Best Crypto Investment

XRP is lower now, yet key support still holds and the long term case remains intact, but Pepeto is shaping up as the high-reward rival with real upside. Its presale traction, staking, audits, and live demo exchange point to more than talk. It is a complete build and ready for exchange listings, which the team says are coming soon.

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6 11, 2025

5 Armenian Recipes to Celebrate the New Year

By |2025-11-06T10:57:17+02:00November 6, 2025|Fitness News, News|0 Comments


By Janelle Leatherwood, RDN

Get ready to ring in the New Year with standout recipes that pack goodness into every bite?

Armenian food is known for tantalizing flavors, and these five recipes will not disappoint. Best of all, these crowd pleasers include options for everyone at your gathering, whether meat-loving or plant-focused.

Five Hors d’oeuvres sure to be the talk of the party

1- Yalanchi Sarma

Makes 60 sarma

  • 1 large jar, Grape Leaves (16 oz.)
  • 3 cups chopped onion
  • 1 ½ cup, Calrose rice
  • 1 cup extra-virgin olive oil
  • ¾ cup pine nuts
  • 1 small can of tomato sauce (8 oz.)
  • 1 ½ cup minced, fresh parsley
  • 1 teaspoon paprika
  • 2 teaspoons salt
  • ½ teaspoon black pepper
  • Juice from 2 lemons (about 6 tablespoons)
  • 1 teaspoon dried mint
  • A few fresh mint leaves to add to the water when baking.
  • 1 ¼ cups hot water
  • 2 teaspoons sugar

Directions

  1. Rinse the rice under cold water in a strainer. Set aside.
  2. Dice onions finely by hand or in a food processor. Sauté onions in oil, until translucent.
  3. Add salt and rice. Cover with hot water and simmer for 20 minutes. Cool for 5 minutes and add a can of tomato sauce, minced parsley, pine nuts, paprika, pepper, sugar, dry mint and lemon juice.
  4. Assemble sarma. Flatten a single grape leaf on a plate or cutting board. Snip the stem off the grape leaf. Be sure the thicker veins are on the outside. Put a heaping tablespoon of sarma filling in the middle. Bring the bottom of the leaf up over the filling. Tuck in the sides and roll to the top.
  5. Line an oven-safe pot with a layer of grape leaves. Stack the rolled sarma into the pan. Add a layer of grape leaves over the top and add 1 cup of water and a few fresh mint leaves to the pan. Cover the top with a stoneware plate for added support and then add the lid on top.
  6. Bake at 350° F for 75 minutes.
  7. Refrigerate sarma and serve cold.

2- Lula Kebabs

Serves 6

  • 1 lb ground lamb
  • 1 lb ground beef
  • ½ cup chopped parsley
  • ¼ cup chopped mint
  • ½ yellow onion, minced
  • ½ tablespoon cumin
  • 2 teaspoons lemon
  • 1 tablespoon extra-virgin oil
  • 2 teaspoons allspice
  • ½ teaspoon coriander
  • ½ teaspoon garlic powder
  • Salt and pepper to taste
  • 2 tablespoons tomato paste

Directions

Mix together both kinds of ground meat, onion, and seasonings. Shape the meat into long patties and skewer, if preferred, before barbecuing. Grill until cooked thoroughly, but be careful not to let it get dried out.

3- Armenian cheese borek

Makes 20 borek

  • 1 pound of phyllo dough
  • 1 pound of jack cheese, shredded or chopped in a food processor
  • ¾ bunch of parsley
  • ½ of a large yellow onion
  • 1 1/2 teaspoons melted salted butter (slightly cooled)
  • 1 egg
  • 1 ½-2 cubes of melted salted butter for brushing between layers of phyllo dough

Directions

  • Finely dice the onion and parsley leaves. Shred or mince cheese in a food processor.
  • Whisk an egg with 1 1/2 teaspoons of just-melted butter (slightly cooled so you don’t curdle the egg).
  • Stir all ingredients together (onion, parsley, jack cheese, butter and egg).
  • Unroll a defrosted package of phyllo dough. Cut the entire stack of phyllo dough sheets in half, length-wise, to make strips about 3-4″ wide.
  • Cover one stack with plastic wrap and a wet towel to keep it moist.
  • Butter one strip of phyllo dough with a pastry brush. Add another strip of phyllo dough to the top, and brush that layer with butter. Add a third strip of phyllo dough to the top, and brush the final layer with butter. You should have three sheets of phyllo dough, buttered in between.
  • Add 2 tablespoons of filling to the bottom corner of your phyllo dough. Take the bottom corner of all sheets and make a diagonal fold to the other side. Continue folding using a flag roll method.
  • Brush the tops and bottoms of all the boreks with butter before baking and place on a cookie sheet. (You won’t need to grease the cookie sheet.)
  • Bake in the middle rack at 375° Fahrenheit for 15-18 minutes or until lightly browned on both sides. Serve immediately.

4- Pomegranate and Pine Nut Lahmajoun

Adapted from a recipe by Kamal Al-Faqih

Makes 48 small lahmajoun

  • ½ batch of Heavenly Armenian Pita Bread dough
  • (You can substitute with 4-4.5 lbs of store-bought bread dough)
  • 1 lb ground meat beef, lamb or turkey
  • 2 finely diced onions
  • 2 cloves of garlic
  • 2 tablespoons of olive oil
  • 2 tablespoons tahini
  • 2 tablespoons pomegranate molasses
  • ⅛ Teaspoon ground cayenne pepper
  • 1 ½ teaspoons salt
  • ¼ teaspoon black pepper
  • 1 ½ teaspoons allspice
  • ½ teaspoon cinnamon
  • ½ cup labni cheese or strained Greek yogurt
  • 2 tablespoons lemon juice
  • 1 teaspoon dry mint
  • ½ teaspoon sumac (optional)
  • 1 cup pomegranate seeds
  • ½ cup pine nuts toasted in butter

Directions

  • Chop onions by hand or in a food processor. Strain excess water.
  • Combine raw ground meat, onions, lemon juice, pomegranate molasses, labni, tahini, and spices in a bowl. Stir thoroughly. Add pomegranate seeds and stir until combined.
  • Roll dough to ⅛ inch thick and cut 3″ circles with a glass or cookie cutter.
  • Brush a little olive oil over the dough. Then top each piece of dough with a teaspoon of the meat mixture and spread thinly over the whole top.
  • Place about a dozen lahmajoun on a greased cookie sheet. Bake at 450 degrees Fahrenheit for 6-7 minutes on a lower rack and 6-7 minutes on an upper rack. Check to make sure meat is browned, but be careful not to overcook the dough.
  • Drizzle baked lahmajoun with pine nuts toasted in melted butter.

5- Muhummara

Serves 16

The first three ingredients are for the pomegranate molasses. You will use ½ cup of the molasses for this recipe:

  • 1 quart pomegranate juice
  • ¼ cup white sugar
  • 2 tablespoons of lemon juice
  • 3 red bell peppers
  • ½ cup chopped walnuts
  • ¼ lb. saltine crackers, usually one sleeve of crackers.
  • ¼ cup extra virgin olive oil
  • ¼ cup lemon juice
  • 1 tablespoon cumin
  • Dash of cayenne pepper
  • Salt to taste

Directions

  • First, make the pomegranate molasses. Over medium heat, bring 1 quart of pomegranate juice to a slow boil. Add ¼ cup of sugar and 2 tablespoons of lemon juice. Then stir until the sugar dissolves. Continue to simmer on low until the mixture turns into a syrup consistency (approximately 60-90 minutes).
  • Mince red bell peppers. If using a food processor, you will want to strain them afterwards. (To strain: Place paper towels in a fine sieve and scoop minced bell peppers on top of the paper towels so any residual water can drain. You will be surprised at how much water will drain.)
  • Coarsely chop walnuts by hand or in a food processor.
  • Coarsely crush crackers by placing them in a zip-lock bag and using a rolling pin to crush them. Or place them in a food processor.
  • Place all minced ingredients in a mixing bowl. Add olive oil, the additional ¼ cup of lemon juice, and ½ cup of pomegranate molasses. Add cumin, a dash of cayenne and salt to taste.

Disclaimer
The Content is not intended to be a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or other qualified health provider with any questions you may have regarding a medical condition.



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6 11, 2025

Platinum price is without any news– Forecast today – 6-11-2025

By |2025-11-06T09:53:33+02:00November 6, 2025|Forex News, News|0 Comments


The (ETHUSD) price settled higher in its last intraday trading, retesting the resistance of $3,435, attempting to correct the main bearish trend on the short-term basis, amid its trading alongside supportive minor trendline for this track, with the continuation of the negative pressure due to its trading below EMA50, the beginning of forming negative divergence on the relative strength indicators reinforces the negative pressure on the price, after reaching overbought levels, exaggeratedly compared to the price move, with the emergence of negative overlapping signals.

 

 

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6 11, 2025

The EURJPY is facing negative pressure– Forecast today – 6-11-2025

By |2025-11-06T09:40:26+02:00November 6, 2025|Forex News, News|0 Comments

The EURJPY pair faced 175.70 level in its last corrective decline, which formed extra support, to reduce the negative effect by its stability, by the above image, we notice its rally above 177.05 barrier.

 

The price needs a new bullish momentum to allow it to provide a new positive close above 177.05 level, to reinforce the efficiency of the bullish track by its rally towards 177.95 and 178.75.

 

The expected trading range for today is between 176.65 and 177.95

 

Trend forecast: Bullish



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6 11, 2025

Ethereum Price Drops 30% as ETF Outflows and Liquidations Shake the Market — TradingView News

By |2025-11-06T09:20:50+02:00November 6, 2025|Crypto News, News|0 Comments

ETH price has entered a critical phase after sharp ETF outflows and widespread liquidations drove Ethereum into a deeper correction. The asset’s decline of nearly 30% from its yearly peak has put traders on alert, though accumulating whales and on-chain signals suggest potential recovery zones forming ahead.

Major ETH ETF Outflows Add Selling Pressure

Over the past four active ETF days, all nine ETH ETFs have reportedly been responsible for notable capital outflows, which have weighed heavily on sentiment. Per farside, from October 29th to November 3rd, Ethereum ETFs collectively saw continuous withdrawals, with the most latest single-day outflow of $135.7 million recorded on November 3rd. Where BlackRock sold $81.7 million worth of ETH, amplifying selling pressure across institutional desks.

This institutional retreat has coincided with broader crypto market turbulence, leading to $1.33 billion in total liquidations within a single day. Ethereum alone accounted for $324.96 million of those liquidations, a figure that underscores the market’s fragile state. As a result, ETH price today trades around $3,510, down nearly 2.6% intraday.

On the Ethereum price chart, this pullback confirms a technical bear market, with prices now nearly 30% below the 2025 peak of 4USDT,955. Despite this weakness, certain long-term investors appear to be taking advantage of the downturn to accumulate.

BitMine’s Accumulation Highlights Long-Term Optimism

Even as market conditions worsen, large institutional holders have shown confidence in Ethereum’s long-term fundamentals. BitMine, a major ETH holder, has reportedly added $300 million worth of 82,353 ETH to its reserves, raising its total Ethereum holdings to approximately $11.11 billion holding 3.16 million ETH in total.

This accumulation pattern provides a key contrast to recent ETF outflows, suggesting that while some investors are derisking, others view the current ETH price in USD as a discounted accumulation opportunity. Such activity often reflects strategic positioning for future cycles, particularly if ETH crypto continues to expand its role in staking, DeFi, and tokenization.

How Deep Can ETH Price Fall Before the Next Reversal?

Technically, Ethereum’s nearest support lies around the $3,300-$3,350 zone. A successful defense of this level could form the base for a reversal, potentially enabling a retest of the 4USDT,955 yearly high if momentum strengthens in November. However, failure to hold support could extend the slide toward $2,890, marking deeper retracement levels.

On-Chain Indicators Show a Potential “Opportunity Zone”

According to on-chain data shared via Santiment insights, Ethereum’s 30-day MVRV ratio has dropped to -10.5%, entering what’s described as an “opportunity zone.” Historically, when this metric falls below -10%, ETH price forecast trends suggest accumulation opportunities, often preceding short-term recoveries.

In addition, whale accumulation and retail capitulation remain crucial for triggering the next leg higher. The pattern seen in past cycles reveals that when retail traders panic-sell and whales accumulate, it often sets the stage for a strong rebound.

Thus, while short-term volatility persists, the combination of technical support, institutional accumulation, and favorable on-chain metrics keeps optimism alive for a potential rebound in ETH price in the near term.

FAQs

What is the ETH price prediction for 2025?

As per our Ethereum price forecast 2025, the ETH price could reach a maximum of $9,428.11.

What will Ethereum be in 5 years?

According to our Ethereum Price Prediction 2030, the ETH coin price could reach a maximum of $71,594.69 by 2030.

Is it better to buy Bitcoin or Ethereum?

While Ethereum is trusted for its stout fundamentals, Bitcoin continues to dominate with its widespread adoption.

How much would the price of Ethereum be in 2040?

As per our Ethereum price prediction 2040, Ethereum could reach a maximum price of 4USDT,128,680.

How much will the ETH coin price be in 2050?

By 2050, a single Ethereum price could go as high as $238,189,500.

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6 11, 2025

XAG/USD seems vulnerable below $49.35-$49.40

By |2025-11-06T07:52:49+02:00November 6, 2025|Forex News, News|0 Comments


Silver (XAG/USD) attracts some sellers following an Asian session uptick to the $48.55-$48.60 region and erodes a part of the previous day’s gains. The white metal currently trades around the $47.75 region, down 0.70% for the day.

From a technical perspective, the XAG/USD has been struggling to build on its strength beyond the 38.2% Fibonacci retracement level of the corrective slide from the all-time peak touched in October, around the $49.35-$49.40 supply zone. This, in turn, favors bearish traders and back the case for a further near-term depreciating move.

However, neutral oscillators on the daily chart make it prudent to wait for acceptance below the $47.00 mark before placing fresh bearish bets. The XAG/USD might then accelerate the fall towards the $46.45 intermediate support en route to the $46.00 round figure before aiming to retest the October swing low, around the $45.75 region.

On the flip side, the Asian session high, around the $48.55-$48.60 zone, might now act as an immediate hurdle, above which the XAG/USD could reclaim the $49.00 mark. Any further move up, however, might remain capped near the $49.35-$49.40 region. A sustained strength beyond the latter might shift the bias in favor of bullish traders.

The subsequent move up has the potential to lift the XAG/USD towards the $50.00 psychological mark, which coincides with the 50% Fibo. retracement level. The momentum could extend further towards the $50.55-$50.60 intermediate hurdle en route to the $51.00 mark and the $51.20 region, or the 61.8% Fibo. retracement level.

Silver 4-hour chart

Silver FAQs

Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.

Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.

Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.

Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.



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6 11, 2025

EUR/USD Analysis 05/11: Technical Indicators (Chart)

By |2025-11-06T07:39:30+02:00November 6, 2025|Forex News, News|0 Comments

EUR/USD Analysis Summary Today

  • Overall Trend: : Bearish
  • Support Levels for EUR/USD Today: 1.1460 – 1.1400 – 1.1360
  • Resistance Levels for EUR/USD Today: 1.1550 – 1.1630 – 1.1700

EUR/USD Trading Signals:

  • Buy EUR/USD from the support level of 1.1430 with a target of 1.1600 and a stop-loss at 1.1370.
  • Sell EUR/USD from the resistance level of 1.1660 with a target of 1.1400 and a stop-loss at 1.1740.

Technical Analysis of EUR/USD Today:

According to recent currency market trading, the EUR/USD exchange rate has failed to gain any momentum in global markets, falling to its lowest level in three months below the psychological support level of 1.1500. Losses extended to the support level of 1.1477, confirming our technical expectations of increased downward momentum for the EUR/USD once it stabilized below the 1.1600 support level, which has indeed occurred. Technically, further weakness in the euro is not ruled out. A positive divergence is forming in momentum indicators, and it is unlikely that any further decline will push technical indicators towards oversold levels. It’s worth noting that the 14-day Relative Strength Index (RSI) is around 33, close to the oversold line, while the MACD lines are steadily trending downwards, supporting the bears’ current control of the trend.

Based on the daily chart, the EUR/USD bullish scenario remains contingent on a return to the 1.1800 resistance level. Today, Wednesday, the EUR/USD will be influenced by the release of the Eurozone Services PMI, starting with the Spanish version at 10:15 AM Egypt time, followed by the Eurozone overall PMI at 11:00 AM Egypt time, and then, an hour later, the Eurozone Producer Price Index (PPI). On the US side, the focus will be on the ADP Non-Farm Employment Change report, followed by the ISM Services PMI at 5:00 PM Egypt time.

US Jobs Data Under Scrutiny

Forex traders believe that the 1.1500 support level will remain the bottom of the EUR/USD range, but this will require some weaker US jobs data to provide some breathing room. Experts also pointed to developments in the financial markets as a significant factor influencing the strength of the US dollar. The US Treasury is rebuilding its cash reserves, putting upward pressure on interest rates.

Tight money markets typically keep the dollar supported, and we will be watching to see if this difficulty in obtaining dollar funding spreads internationally. This would be very negative for the EUR/USD pair if it were to occur, but there are no indications of this yet.

Trading Advice:

The EUR/USD downtrend will continue for some time, and a true upward reversal will not occur without a return of investor confidence and the end of the US government shutdown.

Financial markets remain less confident that the Federal Reserve will cut US interest rates again at the December meeting, with traders estimating the probability of an additional cut at slightly less than 70%. The US government shutdown will also become increasingly significant for markets as its economic impact continues to worsen. The Federal Reserve will be concerned about the negative impact on the US economy but will also be aware of the high degree of uncertainty.

According to experts, the longer the US government shutdown lasts, the greater the negative impact on the US economy in the short term. However, Federal Reserve Chairman Jerome Powell indicated that the Fed would be more inclined to keep interest rates unchanged in December if the lack of clarity regarding the performance of the US economy persists. Overall, significant underlying concerns remain surrounding potential changes at the Federal Reserve, particularly with a new chairman taking office next year.

Over the weekend, Treasury Secretary Bisset criticized the US Central Bank, stating that its track record in predicting inflation was very poor. He added, “We will find a leader who will implement radical reforms across the entire institution in terms of procedures and internal operations.”

Ready to trade our Forex daily forecast? We’ve shortlisted the top forex brokers in the industry for you.

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