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Wednesday, 27 May 01:45 (GMT -05:00)



Foreign exchange market

Forex and Cryptocurrency Predictions by NordFX. January 27th-31st, 2020.


Right before the start of the last last trading week of January, 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 January 27th-31st. So, this is what those predictions look like:
 
- EUR/USD. For the European Central Bank, a weak euro is more beneficial at this point. The closest goal is 1.1000. The next one is 1.0960. If the currency pair breaks below this threshold, it will probably move all the way down to 1.0880. 55% of the experts expect a further downtrend. Their expectation is backed by 85% of the oscillators, and all of the H4, D1, and W1 indicators.
 
The remaining 45% of the experts stick to the opposite opinion. 15% of the oscillators indicate an oversold market. When switching to the Monthly chart, the advocates of the bullish scenario are more numerous - 70%.  The closest target is a major threshold around 1.1065. Some other major levels of resistance are 1.1100 and 1.1175.
 
- GBP/USD. After January 31st, the UK will no longer be a part of the EU. Apparently, the investment risks were reduced by the gradual nature of the Brexit process. A weaker pound makes the British economy more competitive in the international arena. If the Brexit ends up without any surprises, the pound is likely to gain some strength against the dollar and the common currency.
 
With that being said, 65% of the experts are bullish on the currency pair. The expect it to reach the 1.3160 resistance and then head for 1.3200.
 
According to 35% of the experts, GBP/USD is likely to keep on going down. The likelihood of the scenario manifesting itself will increase if the Bank of England decideds on another interest rate cut. In this case, after breaking below support levels at 1.3040, 1.3000, and 1.2960, the currency pair may reach December's low at 1.2900.
 
- USD/JPY. The indicators are drawing an ambiguous picture. 10% f the oscillators are indicating an oversold market. 60% of the experts, backed by D1 charting, are expecting the end of the bearish phase. They say the target is the 110.20-110.30 area. The next one is 110.80. The remaining 40% assume that the bearish trend will persist. The closest bearish target is 108.40.
 
- Cryptocurrencies. Bitcoin has dropped a bit. The index of greed and fear has changed accordingly. In particular, the index didn't enter the fear area but still scared some of the bulls away. Int's interesting to note that some of the Bitcoin prophets started declaring more modest predictions regarding the expected BTC rally.
 
Speaking of the experts participating in the consensus forecast, 50% of them say that BTC will drop down to 7500-8000 dollars per coin. 30% anticipate a flat market. The remaining 20% assume a rally above 9000 dollars per coin.
 

 

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Forex and Cryptocurrencies Forecasts. End of May 2020.

Right before the start of the last trading week of May, 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 May 25th - 29th. So, this is what those predictions look like:
Publication date: 24 May 01:41 PM

Only 4 Of All Existing Billionaires Made Their Fortunes With Cryptocurrencies

Publication date: 25 April 11:54 AM

Bitcoin Grows. EOS May Lead The Market Thanks To Blockchain

Bitcoin gained a good momentum along with the rest of the cryptocurrency market after good news from China. However, EOS may become the locomotive of the movement.

Publication date: 22 April 01:54 AM

DNB's Open For CBDC

De Nederlandsche Bank (DNB), the central bank of the Netherlands, is reported to be open for the CBDC of the ECB. CBDC stands for central bank digital currency. This was officially backed by a 45-page report released on April 21st. With that being said, DNB is ready to play one of the key roles in adopting digital currencies by the global banking system.

Publication date: 22 April 12:47 AM

Bad Economic Figures From USA. Wall Street Reacts.

This time, we are dealing with a peculiar situation. In particular, now that we are facing truly bad figures, the market reaches to them not the way we expected. When it comes to fighting the COVID-19 pandemic, there's almost no positive progress. That's is why international investors are now trying to find some good news in the economic field. Can we actually see some improvements?

Publication date: 02 April 04:04 AM

Dollar Regains Strength, NordFX Reports

Right before the start of another trading, 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 March 30th - April 3rd. So, this is what those predictions look like:

Publication date: 01 April 02:15 PM

Binance and Cryptocurrency Exchange

These days, Binance is a a giant in the world of cryptocurrency exchange. It wont' be an exaggeration to say that this is a Microsoft or a Mercedes in the world of cryptocurrencies. This is a major brand and a symbol of security for those investing in Bitcoin and other digital currencies.

Publication date: 29 March 11:24 PM

Dollar Becomes Safe-Haven Asset Amid COVID-19 Pandemic

Publication date: 22 March 07:48 AM

Fed Cuts Interest Rates. What Does It Mean For Bitcoin?

Publication date: 17 March 12:14 AM

Fed Cuts Interest Rates Again Amid COVID-19 Pandemic

The U.S. Federal Reserve, which can be considered the world's most influencial central bank, has been really serious about the COVID-19 pandemic going on around the world. For the first time in the history of the Federal Reserve, the central bank has done it twice within a couple of weeks. This time, the key interest rate was cut by 100 basis points, which brought it very close to zero. To be more specific, during the recent urgent FOMC meeting that took place on Sunday, March 15th, the FOMC members almost unanimously decided to cut the interest rated from 1,00-1,25% all the way down to 0,00--,25%.

Publication date: 16 March 07:57 AM