Heroes of Ukraine

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

Sunday, 9 August 18:44 (GMT -05:00)

Foreign exchange market

COVID-19 Keeps Affecting Dollar

Right before the start of another trading week of June 2020, 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 June 15th - 20th. So, this is what those predictions look like:
- EUR/USD. At this point, it's hard to say whether the demand for risky assets is going to recover in the near future. The balance of market powers will definitely be guided by the progress in fighting the COVID-19 pandemic, the trade conflict between the USA and China, as well as the price war going on in the crude oil market.
According to 60% of the experts participating in survey, the currency pair is unlikely to plunge below 1.1200 in the near future. The current levels of resistance are 1.1425 and 1.1500.
The remaining 40% count on the currency pair moving back into the 1.0955-1.1000 range. The forecast is backed by the chart analysis on H4. The closest major level of support is 1.1100. Most of D1 trending indicators and oscillators are pained green since the bulls are currently dominating the EUR/USD market on this timeframe. As for H4, the picture is the opposite. However, only 15% of the oscillators are indicating an oversold market.
- GBP/USD. Some experts point to the fact that a major low was set in April in terms of the UK's economic activity. Some improvements are expected to come in Q3 2020. International investors are currently waiting for big news in the coming days. 45% of the experts are bullish on GBP/USD, backed by H4.
35% are bearish, backed by D1. THe remaining 20% are neutral, expecting a flat market between 1.2400 and 1.2645. The next bullish targets are 1.2815 and 1.2900. The bears are looking to reach 1.2355, 1.2265, and 1.2165. 75% of H4 indicators are pinted red. D1 indicates a controversial picture - with 3 almost equal groups - bearish, bullish, and neutral.
- USD/JPY. 40% of the experts expect a rally with moving inside the 108.25-109.70 area. 35% and 25% expect a plunge and a flat market respectively. It's interesting to note that the scenarios aren't backed by the tech picture.
- BTC/USD. International experts are looking forward to another rally of Bitcoin and altcoins. In the meantime, BTC/USD is trying to consolidate in the area between 10K and 11K dollars per coin. 55% of the experts believe Bitcoin will reach this the top of the area by the ned of June. 15% expect a flat market between 9K and 10K dollars per coin. The remaining 30% are bearish - expecting a move down to 8K-8,5K dollars per coin. The greed and fear index is in the fear zone, which is why traders should be careful when considering long trades.


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


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

Bitcoin Reaches $9500. Will It Drive Crypto Market Rally?

The BTC exchange rate has finally broken free from from the narrowing price range and rallied above $9500 per coin. What's coming next? Will the coin test $10000? If so, will this test be successful?

Publication date: 26 July 10:59 AM

Ethereum and Bitcoin Are Close To 5-Month and 1-Month Highs Respectively

After going out of the triangle in the first half of the trading week, Bitcoin started growing faster on Tuesday and Wednesday, thus gaining over 4% in 2 days and testing 9573 dollars per coin, the highest level in 4 weeks. Still, Thursday's session brought a modest correction down and a move back to 9500 dollars per coin and below. In the broad market of cryptocurrencies, Ethereum is the best performer. It has already gained over 7% over the last 24 hours and is currently testing 270 dollars per coin.
Publication date: 26 July 10:08 AM

China Will Test Digital Yuan On Food Delivery Platform

The People's Bank of China is planning to test the digital yuan by putting it to good use with the help of Meituan Dianping, a Beijing-based food delivery platform. It should be noted that this is a rather popular platform with 435 million active users, processing billions of dollars in transactions on a daily basis. Apparently, this opens big opportunities for mass introduction of the digital yuan, which is also known as the Digital Currency Electronic Payment (DCEP).

Publication date: 23 July 09:57 PM

Japan Will Include CBDC In Its Official Economic Plan

The Japanese government is planning to include the CBDC (Central Bank Digital Currency) in their official economic development plan. The information appeared 10 days after the Bank of Japan announced their plans to experiment with the digital yen in order to figure out what it is capable of in practice.

Publication date: 20 July 02:53 AM

World's Biggest Crypto Scams

In his article on the website called Cointelegraph, Nick Bell described the most famous cryptocurrency scams known. In each fo them, investors collectively lost billions of dollars. The sad thing is, many of those scammers remain unpunished by the law.
Publication date: 17 July 09:14 AM

Digital Yuan Threatens Dollar, Matthew Graham

Matthew Graham, a China banking investment veteran and CEO of Sino Global Capital headquartered in China, has analyzed what is so far known about the expected Chinese cryptocurrency. He thinks that the Chinese government sees the technology as something that can actually break the dollar dominance in the financial world.

Publication date: 07 July 06:34 AM

JPMorgan: Bitcoin Turned Into Asset and Survived March Crisis

JPMorgan Chase, one of the biggest banks in the United States and the entire world, analyzed the March crash of the cryptocurrency market and published a report on the results of this research. Bitcoin occupies the lion's share of the report. So, the analysts made the conclusion that the BTC market is getting mature, which is confirmed by a strong correlation with most stock markets.

Publication date: 25 June 11:54 AM

Investment Interest In Bitcoin Drops After Halving

Publication date: 21 June 11:33 AM

Ethereum Is Less Private Than Bitcoin

According to a group of Hungarian experts who decided to examine the Ethereum network, ETH transactions turn out to be less private than BTC transactions. The experts published the results of their research after studying a bunch of several, pretty specific functions of Ethereum. Those functions usually make it possible to track the financial flows in the network.

Publication date: 15 June 02:28 AM

Goldman Sachs Discussed Cryptocurrencies

Publication date: 07 June 03:57 AM