Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Thursday, 22 October 12:54 (GMT -05:00)

Foreign exchange market

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:
- EUR/USD. The currency pair is currently being influenced by economic slowdowns in China and Germany, coupled with economic difficulties in Italy, and, of course, the forthcoming Brexit. At the same time, the United States revealed relatively strong economic data. American politicians claim that no trading confrontation will affect the American economy. 65% of the experts and almost all of the H4 and D1 trending indicators and oscillators are backing the dollar. The expect the currency pair to reach the 1.1000–1.1025 area. On the other hand, a range of events indicate a possible trend reversal and a move down to the 1.1300-1.1400 area. The short-term scenario is backed by 35% of the experts but when it comes to the mid-term perspective, the supporters make up 55% of the experts.
- GBP/USD. Amid weaker industrial production in the UK, the retail sales are growing. Apparently, the British are afraid of the consequences of the Brexit and therefore prefer to spend their savings by purchasing products at what they consider to be a discount since their savings may loose a certain share of their purchasing power anyways when the Brexit is over. At this point it's unclear how long the tendency will last. People are waiting for Boris Johnson's decision and the Parliament's reaction to it.
Most experts (65%) anticipate a further timeout in the downtrend. In particular, they expect the currency pair to fluctuate within the 1.2000–1.2200 range throughout the trading week. The closest level of support is 1.2050, while the closest level of resistance is 1.1275. As for the graphical analysis of H4 and D1, it predicts a move down to the low of October 2016 (1.1900-1.1940) after staying relatively flat for a couple of days.
- USD/JPY. Investors doubt that the trade war between the USA and China can end up in a peaceful resolution. This means that the Japanese Yen will stay popular as a safe-haven asset, which it is. A drop in the 10-year U.S. T-bond yield is also contributing to a stronger yen and a downtrend on the market of USD/JPY. The experts assume that the currency pair is likely to continue its move within the 105.00–107.00 range this week. 60% of the experts anticipate a further move up to the 108.50-109.00 area.

- Cryptocurrencies. When it comes to digital currencies, experts prefer to make longer-term forecasts. Some of them think that Bitcoin is very likely to hit 15000 dollars per coin within the next couple of weeks. Even though there are no fundamental reasons to buy Bitcoin right now, the rally may resume in near future.BTCUSD



You are free to discuss this article here:   forum for traders and investors


Add to blog
Got a question? – Ask it here »

Tape Patterns Indicator

Traders often use various kinds of technical indicators these days. The list can be rather long, from popular ones like RIS, MACD etc. to less popular ones like Tape Patterns.
Publication date: 30 September 08:52 AM

Bitcoin's Getting Ready For a Strong Rally

While Bitcoin could have been more volatile over the recent weeks, the king of cryptocurrencies stoped in the range between 10K and 11K dollars per coin. Do BTC miners know in which way the coin is going in the near future?

Publication date: 30 September 04:07 AM

Bloomberg: Crypto Is Better Than Gold In 2020

According to the recent Bloomberg report, cryptocurrencies are way better than gold in terms of investments in 2020. Which is interesting, most cryptocurrencies have been growing much faster than gold this year. It's not a secret that gold is considered a safe-haven asset amid crises. Bloomberg Galaxy Crypto Index (BGCI) has gained 66% this year,while gold has gained only 20% over the same period.
Publication date: 29 September 01:07 PM

Gold Prices Drop Below $1860/oz, Seeing A Major Downtrend

On Thursday morning, the spot price of gold dropped roughly down to $1850/oz withing the scope of a strong downtrend started earlier this week, with a strong gap from the consolidation level. The key factors contributing to the price drop was the sudden strengthening of the U.S. Dollar.

Publication date: 25 September 07:39 AM

Texas Authorities Spot New Crypto Scams

The TSSB, which is the financial regulator of Texas, is reported to have revealed a couple of potential scams in the international market of cryptocurrencies. These are named Forex Birds and PEK Universe. From now on, both of these projects cannot work in Texas anymore. These projects were banned on September, 3rd.

Publication date: 18 September 01:07 PM

Cryptocurrencies On Sale: ChainLink and TRON Go Down, Bitcoin Is Stable

Wednesday's session is bringing a retracement in the market of digital assets, which is affecting the entire crypto market cap. Chainlink (LINK), TRON (TRX), and Tezos (XTZ) have been the biggest losers over the last 24 hours. They lost 9,7%, 8,7%, and 5,5% respectively. Bitcoins remains stable and one of the very few tokens among the top 20 that are still showing some gains, though modest ones.

Publication date: 16 September 12:04 PM

What's Next For Bitcoin?

Some analysts argue the future of Bitcoin, also known as the digital gold. Last week, the Winkelvoss brothers stated that the BTC price may skyrocket all the way up to 500.000 dollars per coin in the near future. This opinion is shared by Bloomberg analysts. But on the other hand, Bitcoin may see the opposite scenario, which is a major crash to make it as cheap as dirt.

Publication date: 10 September 03:00 AM

How To Get Ready For Bitcoin Boom 2020?

Cryptocurrencies keep on growing in value. If you are going to buy your first coins, this is what you should do first.
Publication date: 30 August 11:27 AM

U.S. Tech Companies Increase Stock Buyback

Publication date: 20 August 06:10 AM

Altcoin Mining Account For Over 30% Of Overall Crypto Mining Consumption

Scientists for the University of Munich urge the regulators to go beyond the BTC scope when it comes to crypto mining affecting the environment. They say that Bitcoin accounts for over 66% of the entire energy consumed by crypto mining, based on the basic algorithms, the current hashing speed, and the mining equipment used, while altcoins account for the rest of it. Consequently, altcoins add almost 50% on top of Bitcoin's energy demand, which in itself may result in considerable damage to the environment.

Publication date: 09 August 11:06 AM