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Wednesday, 22 January 05:17 (GMT -05:00)



Foreign exchange market

Pound Will Drive Forex This Week


Before the start of the last trading week of October, the NordFX expert team has come up with another set of weekly consensus forecasts for the forex and cryptocurrency markets. When devising those forecasts, the experts gathered multiple expert opinions and tech analysis. As a result, we get the following picture:
 
- GBP/USD. The British Pound is expected to influence most of the major currencies this week. The thing is that the contents of the new Brexit agreement is now seen as a reason for a possible UK disintegration. According to a range of experts, during the forthcoming voting session, the British parliamentarians will reject the deal, which will bring some factors back, including the uncertainty around the Brexit.
 
Chances are, Monday's trading session will start with a price gap in certain markets. 20% of the oscillators are now indicating an overbought market. A possible defeat of Boris Johnson is likely to trigger another bearish momentum, with the GBP/USD price getting back to early October's lows around 1.2200. The current levels of support are located at 1.2515, 1.2380, and 1.2280.
 
However, if the deal is approved, the pound may exceed the high of the year at 1.3380.
 
The mid-term forecast indicates that even the controled Brexit scenario is going to be a huge factor pressing down the British currency. The UK economy, once  partially isolated from the EU economy, is likely to face major difficulties. If that's the case, the Bank of England is doomed to cut the interest rate and start a new round of quantitative easing. In this case, the pound may return to the 1.3100 area.
 
- EUR/USD. Within the next couple of days, the ECB and the People's Bank of China are expected to announce their interest rate decisions. Most likely, the European regulator will leave the it unchanged while the Chinese one may surprise the international community.
 
Still, the pound is going to be the key driver for financial markets this week. In particular, the pound may drag the euro in any direction.
The key bearish and bullish targets are 1.0850-1.0925 and 1.1250-1.1350 respectively. In the meantime, 80% of the experts expect the British Parliament to approve the deal and 20% anticipate a rejected deal.
 
- USD/JPY. The targets for the Japanese Yen are unchanged. These are the levels of support at 107.00, 106.65, and 105.70, while the the levels of resistance are 109.00 and 109.85. However, it should be noted that the experts have change their sentiment. 60% of them support a move up while the remaining 40% expect a move in the opposite direction. The mid-term picture is this: 40% are bulls and 60% are bears.
 
Indicators also fail to show unity. 80% of the oscillators are painted red, the remaining 20% indicate an oversold market. On D1, 80% of the oscillators have turned green. The D1 chart analysis indicates a possible move up to 109.00 after moving down to 107.50.
 
- Cryptocurrencies. BTC/USD has been moving within the 7,795-8,700 range for the last 4 weeks. The pivot point is ar 8,300. The wave analysis indicates a possible recovery. However, the experts warn that tech analysis is often useless when it comes to cryptocurrencies because the market is still sensitive to news and speculation. 60% of the experts anticipate a break below the bottom of the mentioned range with a move down to 7,000-7,400. The remaining 40% anticipate a move up to 8,300-8,700.
 

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Forex and Cryptocurrency Forecasts for mid-January 2019

Before the start of the last trading week of October, the NordFX expert team has come up with another set of weekly consensus forecasts for the forex and cryptocurrency markets. When devising those forecasts, the experts gathered multiple expert opinions and tech analysis. The forecast is actual for the period of January 13th through 17th, 2020. As a result, we get the following picture:

Publication date: 12 January 04:29 AM

EUR/USD Waiting For Events

The year of 2019 is almost over. So, what are the expert predictions for the forthcoming trading week? NordFX has come up with another set of market forecasts for December 16th-20th. So, without further ado, let's go ahead and take a closer look at them.

Publication date: 15 December 04:50 AM

Best Cryptocurrency Brokers Are Named

There's no denial the fact that cryptocurrencies are getting more and more popular these days. Apparently, the need for cryptocurrency exchanges is growing with them. With that being said, international experts have tested dozens of cryptocurrency exchanges to come up with a rating.

Publication date: 29 November 11:45 PM

Forex Treasure by Alpari: 20% on Deposit

These days, you cannot make a decent amount of money by simply depositing your money into a bank account and waiting for the interest to be credited to your account at the end of the investment period. When it comes to the dollar and other foreign currencies, international banks usually offer single-digit interest rates, somewhere around 3% or so. Some national banks had to introduce negative interest rates, which made depositing unprofitable right off the bat.

Publication date: 29 November 12:51 AM

Bitcoin Futures Are Now Traded On NYSE

The world's biggest stock exchange, which is the New York Stock Exchange (NYSE), is reported to have started offering Bitcoin futures.

Publication date: 27 October 09:51 AM

"Forex Is A Scam" and Other Popular Myths About Forex

Almost each and every beginning forex trader who lost their money while trading forex thinks they have been scammed for money. Very few of them can actually face the truth and take a look at the situation at a different angle. Strange as it may seem, But such traders eventually succeed in financial markets and get rich trading them. Well, if you think for a while, that becomes quite obvious because such people aren't afraid of analysing the negative situation and drawing the right conclusions to avoid repeating those costly mistakes in the future. Those who learn from their own mistakes instead of repeating them over and over again, can eventually succeed in this business.

Publication date: 24 October 09:37 AM

Bitcoin Will Crash To $3000 Per Coin

In his latest YouTube video, a popular cryptocurrency expert named Alessio Rastani told his subscribers about the possibility of Bitcoin crashing all the way down to 3000 dollars per coin. So, is the BTC exchange rate really going to go that low in the near future? The expert started his review from evaluating the stock market sentiment cycle, which is a really significant part of market analysis. So, he did just that.

Publication date: 21 October 10:04 AM

SEC Bans Telegram Tokens

Bad news for cryptocurrencies is coming from the USA. The SEC is reported to have banned Telegram's cryptocurrency. The tokens turned out to be unregistered assets and therefore are illegal as something that can be sold to American investors. This is what Bloomberg reported the other day.

Publication date: 15 October 11:33 AM

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