Motion to potentially ban bitcoin defeated in EU parliament committee vote
Yesterday, the European Parliament's economic and monetary affairs committees defeated a motion to limit the use of the energy intensive proof-of-work.
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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Yesterday, the European Parliament's economic and monetary affairs committees defeated a motion to limit the use of the energy intensive proof-of-work.
Today's "Morning Market Review" considers oil's exhaustion, with markets challenging to read right now. Yields are increasing with market participants focusing on the Fed meeting tom. Risk markets have pulled back but so have the havens.
The US30 hourly is battling short-term overhead resistance. The daily chart will move into a more bullish area if it can beat it.
In today's "Morning Market Review," we discuss the sharp rise in yields. We also consider the moderation in gold and forward momentum in the GER30. Lastly, we examine the UKOil chart for possible direction flow. Market's are starting the week with a risk-off sentiment, hoping for progress in talk between Ukraine and Russia.
Bitcoin remains neutral on the daily and is battling a key level on the hourly.
Markets react to Putin comment that "[t]here are certain positive shifts, negotiators on our side tell me."
FXCM's dollar basket, the USDOLLAR, has charted another higher trough followed by a higher peak in its series. This pattern is a continuation of the greenback's uptrend. We also note that the weekly stochastic has turned up – we are interested in seeing if it hits the 80+ region and holds (green rectangle). The underlying momentum will suggest further upside for the buck if it does. This strength comes before…
In today's "Morning Market Review", we ponder the question of runaway vs exhaustive gaps. The former has dire consequences regarding stagflation. We also consider if there is value in the GER30 at current levels and use the MACD histogram to make inferences regarding its recent decline.
Bitcoin fades yesterday's strength.
In today's "Morning Market Review", we start by looking at the pullback in gold. We also discuss the possibility of an exhaustion gap in oil and the current bounce in risk markets. Finally, we end off the webinar by looking at bitcoin.
Stagflation describes an economy experiencing higher inflation pressures at the same time that growth is declining.
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