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Tuesday, 15 October 19:13 (GMT -05:00)



Foreign exchange market

NordFX Shares Forex and Cryptocurrency Forecasts for Mid-March 2019


 The situation in forex, which is the international currency market, has always influenced many other fields of human life worldwide. In the meantime, traders and investors rely on accurate forex forecasts to earn money. That is why Market Leader keep on telling you about 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.

 
This week's market situation is likely to be determined by a range of expected events. The trading week is definitely going to be rich in events, each of which may well trigger considerable market moves, and even reverse the existing trends.
 
To start with, the Eurozone ministers of finance are to hold a summit on Brussels on Monday, March 11th. Also, later on the day, the U.S. Department of Trade is to release another retail sales report. According to the most recent forecasts, the information may strengthen the dollar. On Tuesday, another U.S. economic report is expected to be released, this time the CPI, which stands for the Consumer Price Index. Apparently, the Fed Chairman's speech on the central bank's future monetary policy is also worth talking into account. Wednesday is the time of another U.K. budget report coupled with the China's retail sales and industrial production. Thursday is the time for Germany's CPI. The Bank of Japan's Chairman is expected to reveal the central bank's monetary policy plans on Friday. 
 
However, none of those events is as important as the 2nd round of the Brexit voting in the British Parliament. On Tuesday, the legislators will get another opportunity to evaluate the contents of the possible agreement. In case the voting fails again, the next day the parliamentarians may consider the option of postponing the Brexit until later. Given the current sentiments prevailing among the legislators, chances are the U.K. may well opt for another Brexit referendum. International experts say that the stats may go beyond simply affecting the currency exchange rates. The decisions made this week may change the conditions for the entire global economy. Given all of the factors mentioned above, the consensus forecast is this:
 
EUR/USD
 
Around 60% of the respondents, backed by almost 90% of the oscillators and trend indicator, predict a further drop for the common European currency. They anticipate a move down to 1.1100-1.1125. It's interesting to note that when tic comes to the second half of March, 60% of the experts have now turned bullish, therefore expecting a rally up to 1.1400-1.1500.
 
GBP/USD
 
65% of the experts are bearish on the currency pair, expecting a drop down to 1.2850-1.2900. A longer-term forecast also differs - 60% of the experts expect a rally up to 1.3350, February's high, with the chance to go up by another 200 points.
 
USD/JPY
 
Despite last week's drop, USD/JPY keeps on stying within the upward sloping channel started in early January 2019. That's why 60% of the experts, backed by D1 charts. assume that the currency pair is likely to break the 112.00 level, only to move inside the 112.25-113.70 range, thus repeating the market behavior seen in November-December 2018.

1552137733_USDJPY_11.03.2019.png

 
40% of the experts stick to the opposite scenario. They are convinced that it's pointless to count on growth until the currency pair reaches the bottom around 109.70-110.10.
 
Cryptocurrencies
 
The cryptocurrency market remains uncertain. International experts are at odds over the prospects of this market. MagicPoopCannon, one of the most respected cryptocurrency traders and one of the leading TradingView authors, has recently conducted an interesting survey in his Twitter. Around 3000 users participated in the survey. 42% of them are convinced that over the next 4 years, the cost of Bitcoin would be somewhere in between $100K and $1M per coin. 30% responded with a price between $20K and $200K per coin. 13% think the coin will stay within the range between $3K and $20K per coin. The remaining 15% think the coin will go under $3K.
 
As for the BTC forecast for the current trading week, most experts expect the BTC/USD to move within $3,600-4,300 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