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Technical analysis

Crypto market review - 17th to 22nd february

Sanmi Adeagbo | Mar. 3, 2019
Crypto market review - 17th to 22nd february

This week, the crypto market continues its gradual rally with individual crypto prices nearing their January highs. Market capitalization has soared with 10.7% more than last week. The current market cap of $134 billion is also 18.5% higher than $113 billion recorded at the turn of the year. Meanwhile, the market volume increased from $20 billion to $35 billion mid-week but has dropped slightly to $24 billion as the week reached the closing end. Bitcoin market dominance has dropped to 51.9% after

Crypto market review

Ethereum, EOS and Litecoin took more share from the market pool. Most of the top 100 cryptos listed on Coinmarketcap gained significantly this week, with EOS and Litecoin leading the race with 40% and 25% respectively at their weekly top prices.

Forex market review

The currency market moved swiftly this week except for the Euro and Yen which spent most of the week sideways. The Cable gained about 175 pips on Monday after PM May spoke in London about Brexit. GBPUSD hit 1.31 for the first time in two weeks but has dropped back to 1.3 as the week closes. Euro continued the rally that started last week but there was a limited upside move around 1.135 as investors' concern on the Euro-zone economy grows. The commodity currencies, Kiwi and Aussie have been the biggest movers this month and have both continued this week after the release of high impact data. Despite positive employment data from Australia and a better than expected NZD inflation data, NZDUSD and AUDUSD are ending the week negative after earlier positive moves earlier in the week. USDCAD rallied back to the week's opening prices around 1.32 following negative retail sales data after it had earlier in the week dropped slightly below 1.315 a. Despite the BOJ policy statement and press conference, the Yen was silent. USDJPY oscillates between 110.5 and 111.9 to continue end of last week rally after a sharp drop. Gold is ending the week on a bearish note after losing most of the gains (over 250 pips) it recorded in the first half of the week.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.