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Tuesday, 15 October 19:06 (GMT -05:00)



Foreign exchange market

NordFX Shares Forex and Cryptocurrency Forecasts for Early March 2019


The balance of powers in the international currency market (also known as forex) influences many contemporary tendencies in the entire world. At the same time, traders and investors rely on accurate forex forecasts to earn money. That is why we keep on publishing those weekly consensus forecasts, courtesy of NordFX.
 
In particular, the local expert team has come up with another forecast based on the time-tested approach, which boils down to studying tons of related sources, expert opinions, as well as predictions made based on technical and graphical analysis.
 
EUR/USD.
 
The latest report shows that the American economy grew by 2,9% in 2018. President Trump promises that the national economy will grow even stronger this year. He names 3.0% when predicting the economic growth in 2019. However, unlike Donald Trump, the Fed has predicted a recession and a slowdown to 2,3% this year.
 
Also, when estimating the possible market scenarios, it's necessary to take into account the statements made by several representatives of the ECB. They expect the European economy to gain 0,5% in each quarter of 2019. This creates a controversial situation. The experts are divided 50/50. However, most of the experts assume that the exchange rate is likely to keep moving withing the 1.1300-1.1500 range set in October 2018. However, reaching the highs and lows is not excluded. The range may expand slightly to 1.1215-1.1570.
 
When switching from the weekly chart to the meed-term perspective, the bulls has gained the upper hand - 65% of the experts anticipate a rally to the 1.1700-1.1800 area. That's backed by 80% of the indicators, which have turned green. Still, 15% of D1 oscillators indicate an overbought asset. Fluctuations within the 1.1215-1.1455 range are possible.
 
When it comes to significant events to take into account this week, pay your attention to the ECB meeting scheduled for Thursday. Chances are, we will get to know Mario Draghi's successor. Also, the volatility may increase after the Eurozone GDP report and the U.S. employment stats. The reports are to be published on Thursday and Friday respectively. 
 
GBP/USD
 
Last week's optimism associated with the British Pound turned out to be temporary. A posible delay in the Brexit process can hardly be called a solution. The next Brexit voting is scheduled for March 12. It only then that we will know whether the decision will be delated.If the voting fails again, Theresa May will have to raise the question of forbidding the UK to quit the EU without a major agreement. If the parliament approves  the corresponding decision, the parliamentarians will get a chance to delay the Brexit talks till next time. 
 
Given the uncertainty around the Brexit voting, the experts cannot tell for sure how the situation will affect the British Pound. For now, around 60% of the experts anticipate a drop down to 1.3115, with next levels of support located at 1.2965 and 1.2830. The remaining 40% think the British Pound will rebound from 1.3200 to head for 1.3315, 1.3470. If that's the case, the next level of resistance is 1.3615.
 
USD/JPY
 
Most experts (65%) draw our attention to the increasing risk tolerance and more expensive oil when talking about USD/JPY. The experts assume the Japanese Yen is likely to keep losing value under such circumstances, which means a rally, probably up to 112.25-113.25. The next target is 114.20. The scenario is backed by the technical analysis of the D1 chart.

1551537922_USDJPY_04.03.2019.png

On the other hand, around 20% of the oscillators on H4 and D1 signal an overbought asset, which may result in a deep retracement. That's why 70% of the experts do not deny a possible reversal of the trend, with a move down to 110.25. The next support is located at 109.15.
 
Cryptocurrencies
 
Despite the current weakness, the cryptocurrency market still has a positive news background. For starters, J.P.Morgan is reported to have successfully tested JPM Coin. At this point, the market has been waiting for similar projects from Facebook and Telegram. According to the experts, introducing WhatsApp's own coin will make it possible to expand the use of cryptocurrencies up to 35% pf the world's population. 
 
Against the positive background, many crypto-enthusiasts resumed their talks about cryptocurrencies recovering and getting ready to skyrocket to new heights. According to IBM's Vice President of Blockchain Department , Bitcoin may recover up to 5000 dollars per coin by the the end of 2019. After that, Bitcoin will keep growing until it reaches 1 million dollars per coin.  
 
Apparently, the latter is more like a hope than a forecast. Still, 65% of the experts are getting positive on the future of Bitcoin. They are certain that the coin will consolidate above 4000 dollars per coin and move towards 4,300-4,600 dollars per coin in the near future. The remaining 35% of the experts are bearish on Bitcoin, anticipating a move down to 3,200-3,500 dollars per coin.

 

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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