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Bitcoin Reaches All-Time High of $9,600 after Black Friday Weekend: Bitcoin surpassed the $9,000 level to reach an all-time high of $9,600 on the Thanksgiving and Black Friday sale surge in the US.
Many online stores including Overstock.com accepted Bitcoin in exchange for their biggest sale of the year, that’s why we think this most recent surge may have been retail driven. Of course, we can’t ignore the fact that the digital currency has experienced sharp gains in general because of the growing interest in the broader cryptocurrency space.
With this, even though we could expect some temporary pullbacks towards key support levels of $8,625, $8,000 and the most important one, $7,560, which falls on the 50% Fibonacci retracement level, Bitcoin price could easily move up to the $10,000 level before year-end.
EUR crosses have been enjoying gains against major counterparts
The markets look set for a volatile week ahead as participants await a steady stream of top-tier risk events from across the G10. The EUR crosses have been enjoying gains against major counterparts, with both EUR/USD and EUR/JPY confirming above the daily Ichimoku cloud. Meanwhile, the US Dollar suffered the largest drop in nearly two months last week as 2018 Fed rate hike expectations cooled. On the economic calendar today, we have German Retail Sales data (OCT) during the London session which could create further volatility across the EUR crosses. Analysts are expecting the retail sales results to drop to 2.8% from previous reading of 4.1% on a YOY basis. A better than expected result could push the EUR crosses further up.
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