Heroes of Ukraine

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

Thursday, 22 October 12:53 (GMT -05:00)



Foreign exchange market

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:
 
- EUR/USD. The currency pair has been moving within the scope of a bullish sloping channel since the ned of November 2019. Having reached another local high at 1.1240 on December 31st, 2019, the price changed the direction. According to 60% of the experts participating in the consensus forecast, the currency pair will not get back into the sloping channel in the near future. The thing is that the American currency is likely to continue strengthening, which is why they expect the currency pair to move all the way down to 1.1040-1.1065. The next target is 1.1000. It seems that the charting-based forecast made on H4, backed by 70% of the trending indicators on D1.
 
The remaining 40% of the experts assume that the currency pair is not going to be able to break the 1.1100 threshold, and is likely to move back at least to the central line of the sloping channel around 1.1240. The macroeconomic indicators expected to come out within the next few days are unlikely to change the situation drastically since the situation is now heavily influenced by the situation around Iran.
 
- GBP/USD. The Brexit is coming to an end, which means the UK and the EU are going to say good bye to each other soon. According to Bloomberg, the UK's annual GDP is likely to drop from 2% down to 1%. Better yet, the UK will have to spend quite a lot fo time to recover its GDP growth. It's very likely that the British Pound is going to continue its movement with the horizontal range of 1.2900-1.3200 with the Pivot Point in the 1.3000-1.3050 area.
 
60% of the experts expect the currency pair to move close to the lower boundary of the channel, around the following levels of support: 1.3010, 1.2970, and 1.2900. This forecast is backed by 85% of H4 and D1 indicators. Coupled with the charting analysis of D1, 40% of the experts count on a rebound followed by a rally all the way up to the channel's Pivot Point.
 
- USD/JPY. Last week, the currency pair reached the upper boundary of the mid-term horizontal channel of 108.40-109.70. 75% of the oscillators and 85% of the trending indicators are painted green. However, only 25% of the experts expect the currency pair to grow up to 110.70. According to most (75%) experts, the currency pair is likely to go down. The currency pair is overbought. The current levels of support are located at 109.20, 108.75, and 108.40. They say. however, that reaching last week's lows around 107.65-107.75 is unlikely.
 
- Cryptocurrencies. The international community has been discussing the rumors that 70% of BTC coins are stored on frozen accounts. Most of the investors buy and hold. Chances are, most of them are waiting for BTC to hit 1 million dollars per coin, which is predicted to happen in 2040. Last weeks high and lows prove that BTC/USD has come to a new range - 7,765-8,450 dollars per coin. At the same time, 70% of the experts predict a move down to 7,000-7,500 dollars per coin.

 

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