 The forex markets are generally staying in consolidation mode today with US on thanksgiving holiday. , and even Yen's rally is losing some momentum. Nevertheless, the Japanese currency might find some renewed life with the Tokyo CPI data in the upcoming Asian session. BoJ Governing Kazuo Ueda has recently kept the option for a rate hike in December open his comments. But all would depend on incoming data. Any stronger than expected acceleration in Tokyo CPI core would, at least, revive the speculations on BoJ. At this point, Yen remains the strongest one for the week, followed by Swiss Franc and then Euro. The latter two will look into tomorrow's Swiss Franc and Eurozone CPI flash to decide their final positions at the end of the week. Canadian Dollar and Australian Dollar are staying as the bottom two, followed by Dollar. Meanwhile, Kiwi and Sterling are positioning in the middle. Technically, Ethereum's near term rally resumed today and it's now eyeing 61.8% projection of 2354.65 to 3444.75 from 3030.65 at 3704.33. Decisive break there could bring upside re-acceleration to 100% projection at 4120.785, which is slightly above 4092.55 record high. However, break of 3444.75 resistance turned support will indicate first rejection by 3700 mark, and bring pullback. Ethereum’s performance could offer clues about Bitcoin’s ability to sustain its rally and power through the key psychological 100k mark.... |
