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Tuesday, 15 October 18:38 (GMT -05:00)



Foreign exchange market

NordFX Expects Cryptocurrencies and Euro to Go Further Down


The relation between 2 currencies at a certain point of time is the result of the market being simultaneously influenced by a whole lot of various factor of various impact and origin. Currency exchange rates, in their turns, affect man other processes meaningful for the majority of people in all parts of the world. 
 
NordFX analysts decided to share another weekly forecast.
For starters, the experts suggest recollecting last week's market behavior to figure out to what extent those predictions came true. 
 
While applying a range of methods, tools and techniques, which have proved to be good at predicting future market behaviors, the experts came up with a new weekly forecast. To some extent, this is a consensus forecast, which takes into account the predictions based on various approaches, techniques, and methods of technical and graphical analysis. This allowed them to come up with a more-or-less clear picture, including the most probable scenarios of the trading week.
 
Having studied the set of factors that can possibly affect EUR/USD, the analysts report that the key event of the week to watch out for is the forthcoming urgent summit of European leaders, where they are expected to discuss the so-called Brexit. The event is planned for November 25-26. If the talks turn out to be a success, the currency pair may go back to November highs around 1.1470 and 1.1500. Over 40% of the experts participating in the consensus forecast share this opinion. The remaining 60% of them expect a stronger dollar.
 
On Wednesday, the USA is to publish their GDP figures for Q3 2018. Should the figures turn out to be stronger than the previous ones (for Q2 2018), the U.S. dollar will definitely get considerable support. Another major event scheduled for the trading week is the Fed's FOMC meeting that's to take place on Thursday. The experts don't expect any surprises from the financial regulator. The bears' goals are located around 1.1300 and 1.1215 - the low of 2018. If the price breaks below that level, the next level of support is 1.1120. Around 15% of the oscillators on H4 are indicating an oversold market, which may hint at a slight recovery in the coming days.
 
In case with GBP/USD, almost 100% of the indicators are painted red. However, the situation may well change while driven by this week's major news and events. Once again, it's all about the Brexit. The European leaders should decide on the terms and conditions of Great Britain leaving the European Union. Should they come up with an agreement, it should also be approved by the British parliament. Chances are, the parliamentarians will reject the agreement, the experts say. If that's the case, there should be another round of voting, which is likely to be scheduled for February 2019 in this case. Apparently, such a scenario is no good for the British Pound since the investors will probably start  withdrawing their investments from the British Pound, thereby making it weaker. The closest levels of support are 1.2720, 1.2695, and 1.2660. The closest levels of resistance are 1.2885, 1.2925, and 1.3025.
 
As for the Japanese Yen, it often moves against the trend of major European currencies. With that being said, JPY often moves up when EUR and GBP move down. Over 55% of the experts, coupled with 90% of oscillators, and 70% of trending indicators, expect USD/JPY to move down to 112.60  and below.
 

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At the same time, they don't deny the possibility of testing 112.00. However, since the market is oversold, 45% of he experts do not deny a rally up to 113.15-113.40 and 114.20-114.55.
 
As for cryptocurrencies they are likely to keep moing down in value, with Bitcoin probably trying to test $4000 USD/BTC. If that's he case, the next target is $3000 USD/BTC. At the same time, there are rumors that Ethereum-based smart contracts have vulnerabilities. If that's true, may well expect another round of weakness for ETH/USD.
 

There's good news for crypto bulls. THere is a divergence between the BTC exchange rate and many oscillators. This fact may hint at a highly probably recovery, even though it may be a short-term bullish trend.  

 

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Dollar Will Keep Going Down, NordFX Experts Say

Right before the start of the last last trading  of this summer, NordFX experts came up with another set of market predictions for the forex and cryptocurrency markets. Their predictions are based on the consensus forecast compiled from various market forecasts made by various market experts as well as the result of technical analysis. The period is October 4th - 11th. So, this is what those predictions look like:
Publication date: 07 October 12:04 PM

Masterforex-V Names Worst Forex Brokers in September 2019

Masterforex-V Academy's rating of forex brokers gives you an unbiased and up-to-date picture of what's going on in the industry based on 20 criteria. One of the criteria is the amount and degree of the negative feedback provided by each broker's clients. In this article, we are going to dive deeper into the matter and find out which brokers turned out to be the worst ones in September and why.
 
Publication date: 03 October 05:21 AM

Bitcoin is only half-way down. Ethereum is stable.

The current state of affairs in the global cryptocurrency market leaves much to be desired. This is confirmed by a number of people who usually promote cryptocurrencies. John McAffee is clearly not one of them. He has always been very positive on the prospect of digital currencies. In particular, he believes that the BTC/USD exchange rate may eventually reach as much as 10 million dollars per coin. 
 
Publication date: 02 October 10:27 AM

Bitcoin Crash Causes Panic In Cryptocurrency Market

Bitcoin has crashed. Altcoins are bleeding. The panic is making things even worse for Bitcoin and other digital currencies out there. The worst case scenario provided by Masterforex-V Academy experts has finally manifested itself - a break below the bottom of the 9000-9400 range resulted in an instance crash by more than 15% just within a single trading session. In a matter of 12 hours the Bitcoin market lost 37 billion dollars of market capitalization.

Publication date: 25 September 11:10 PM

Bitcoin Exceeds $10K Again

It turns out that Bitcoin is still able to surprise. Despite the growing pessimism in social networks, recently has been a good time to load up on Bitcoin and other cryptocurrencies. The world's first and biggest coin has broken the psychological barier of 10000 dollar per coin. Does this mean going back to the bull market? At this point, the BTC rate is around 10300-10400 dollars per coin.

Publication date: 05 September 12:15 AM

NordFX: Forex And Cryptocurrency Market Review. August 2019

Right before the start of the last last trading  of this summer, NordFX experts came up with another set of market predictions for the forex and cryptocurrency markets. Their predictions are based on the consensus forecast compiled from various market forecasts made by various market experts as well as the result of technical analysis. So, this is what those predictions look like:
 
Publication date: 25 August 12:12 PM

Will Brexit Affect Bitcoin?

Some representatives of the international expert community assume that the Brexit is going to push Bitcoin higher, all the way up to new record highs in 2019. Nicolas Gregory, CEO of a blockchain company named CommerceBlock, is one of those experts. Not so long ago, he shared his standpoint with The Independent. He thinks that the Brexit may radically change the position of Bitcoin in the global economy and finances.
 
Publication date: 25 August 10:48 AM

Forex and Cryptocurrency Market Review by NordFX

At the beginning of the current trading week, NordFX experts came up with another set of market predictions based on a number of expert opinions backed by trending indicators and oscillators. This is what they came up with:

Publication date: 19 August 01:09 PM

Bitcoin ETF Decision is Delayed by SEC

The SEC, the USA's chief financial regulator, decided to delay the Bitcoin ETF decision once again. If the ETF had received the green light, we would now see it trading on CBOE and NYSE Arca. However, the Securities and Exchange Commission decided to put on hold the decision on three ETFs: VanEck / SolidX (CBOE), Wilshire Phoenix, and Bitwise Asset Management (both related to NYSE Arca).
 
Publication date: 15 August 01:00 AM

Forex and Cryptocurrency Forecast by NordFX. Mid-August 2019

Roman Boutko, an analyst for NordFX, has come up with another consensus forecast for the forex and cryptocurrency markets for the forthcoming trading week starting on August 12, 2019.
Publication date: 11 August 11:42 AM