Heroes of Ukraine

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

Thursday, 20 February 03:42 (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.
 

 

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

 

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

Dollar Grows Versus Euro. BTC Is At $9000. Trump And His 'Deal Of The Century'.

It seems that the Chinese coronavirus is gradually becoming the biggest driver in financial markets. At the same time, Donald Trump has recently announced another version of his peace plan for the Middle East. If this agreement manifests itself, then you may expect major changes in exchange rates.

Publication date: 05 February 12:51 AM

Bitcoin, Gold, and Crude Oil. Cryptocurrencies' Place Among Conventional Assets.

Can Bitcoin be called a safe-haven asset? This cryptocurrency is called the new gold or the digital gold, but many investors are really skeptical about these statements.

Publication date: 26 January 06:08 AM

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

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:
Publication date: 21 October 12:15 AM