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Monday, 19 August 02:18 (GMT -05:00)



Foreign exchange market

NordFX Shares Another Forex and Cryptocurrency Forecast for Mid-April 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 
 
Around 60% of D1 trending indicators are still painted green. However, oscillators are showing us a different picture. 30% of them have turned grey. The rest of them are indicating an overbought market. 65% experts, the market is going to start moving down within the next coupe fo days, thus trying to test April's low at 1.1183, and to move further down to 1.1175. t`he closest level of support is 1.1250.

График EURUSD

 
H4 analysis shows that before going south, the currency pair may temporarily rally up to 1.1300 and 1.1350. The closest level of resistance is 1.1420.
 
GBP/USD
 
The experts assume that the euphoria caused by the Brexit delay will get exhausted soon. The currency pair is likely to  move in a flat market within the 1.2985-1.3150 range. The closest level of support and resistance are around 1.3050 and 1.3120 respectively. The mid-term forecast is mostly bullish (60% experts). They anticipate a stronger pound, with a move in the 1.3200-1.3350 area. However, we should keep in mid that the accuracy of this prediction has to do with the situation around the Brexit. There is still a change of holding another Brexit referendum. As a result, London may equally reject the Brexit or decide to quit the EU without a major deal. So, any Brexit news may affect the situation and reverse the trend. For now, the demand for the British Pound is low.
 
USD/JPY
 
The bullish scenario remains the most likely one. 70% experts go north, so do all trending indicators. The experts say that in case the 10-year U.S. bonds keep growing, the currency pair may rebound from 112.00 and go up to the 113.00-114.20 range. At the end of the past trading week, the currency pair was located closer to the upper border of the 109.70-112.15 mid-term channel. So, a rebound from the upper border is also probable. This is what is indicted by 25 oscillators. The closest level of support - 110.85, 110.35, and 109.70.
 
It;s also interesting to note that Japan and the USA are planning to hold trade talks this week. The results may affect the currency pair. Also, you are recommended to pay attention to a series of events like UK and German ZEW indexes (Tuesday, April, 16th), Chinese GDP and UK CPI (Wednesday, April, 17th), UK and US retail sales (Thursday, April, 18th), Japanese CPI (Friday, April, 19th).
 
BTC/USD
 
The crypto-market news background is mostly positive. Bitcoin has recently reached another high. It's interesting to note, that ever since Bitcoin came into existence, they have already made over 400 million BTC transactions. At this point, over 350 000 BTC transactions are being made on a daily basis. 
 
According to Co-Founder of Fundstrat Global Advisors Tom Lee, Bitcoin is now back in the big game. The fair price is around $14K per coin. However, some other experts don't share this standpoint. Coinbase CEO Brayan Armstrong, the next big inflow of international investors is only possible when 3 major issues are resolved, namely scalability, convenience and volatility.
 
When evaluating the mid-term prospects of Bitcoin, 70% experts expect a move up to $6K per coin. However, this week, the price is likely to go flat in the 4,935-5,335 range while testing the upper border of the range. Chances are, the range will be expanded to 4,600-5,500. 

 

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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

British Pound And Brexit. What's Next?

The Brexit is going to come to the UK as the result of the 2016 referendum in the UK. 52% of the votes were cast in favor of the Brexit scenario back then. Chances are, the Brexit is going to affect the entire economic and financial system of the United Kingdom, including its national currency - the British Pound.
Publication date: 09 August 09:21 AM

Over 85% Of Bitcoins (BTC) Have Already Been Mined

Publication date: 05 August 03:28 AM

Coinbase Registers a Big Inflow of New Clients

An international cryptocurrency exchange named Coinbase is reported to have registered 5 million users of the last 12 months. This is what the latest report says. In particular, the amount of Coinbase users increased from 25 million users all the way up to 30 million users over the reporting period.

Publication date: 01 August 09:18 AM

Bitcoin Is Likely To Drop, Experts Say

At this point, the market cap of the entire cryptocurrency market is around 263 billion dollars, with over 64% being Bitcoin's share. Ethereum would have to gain more than 700% to break even with the king of cryptocurrencies. At this point, such a scenario looks unreal.

Publication date: 30 July 10:05 AM

Dollar Rate Is Close To 2-Month Highs

The U.S. Dollar is trading around Friday's high while the basket of 6 major currencies is on its way to the second profitable week, waiting for another GDP report from the USA. The dollar rate support a wider spread between the German and American bonds yields.

Publication date: 28 July 08:28 AM

1 Million Dollars For Bitcoin - John McAfee Confirms The Forecast

If someone has been enjoying the BTC rally going on sine early April, today you are probably not that exited about the market conditions since the bears seem to be getting stronger. The BTC exchange rate has dropped and is not trading around $10000 per coin, Market Leader reports.

Publication date: 19 July 04:07 AM

NYSE Launches Slack Technologies' IPO

Publication date: 22 June 05:58 AM

Masterforex-V Names 135 Most Popular Forex Brokers 2019

When trying to increase the amount of new clients, many brokers start massive ad campaigns online. Most of the time, you can see or hear those brokers call themselves the leading players in the industry, the best of the best, which is obviously not true because all of them cannot be as good as they claim to be. This actually makes it really difficult for the common trader or investor to make up their mind when choosing the next broker to go with.

Publication date: 12 June 08:22 PM

NordFX Products and Services Praised at the Philippines Traders' Fair

  The brokerage company NordFX took part in the specialized Forex Traders' Fair-2019 which was held in the capital of the Philippines, Manila, at the end of May.

 

Publication date: 01 June 05:52 AM