Heroes of Ukraine

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

Saturday, 16 February 19:40 (GMT -05:00)



Foreign exchange market

NordFX Expects Cryptocurrencies and Euro to Go Further Down


The relation between 2 currencies at a certain point of time is the result of the market being simultaneously influenced by a whole lot of various factor of various impact and origin. Currency exchange rates, in their turns, affect man other processes meaningful for the majority of people in all parts of the world. 
 
NordFX analysts decided to share another weekly forecast.
For starters, the experts suggest recollecting last week's market behavior to figure out to what extent those predictions came true. 
 
While applying a range of methods, tools and techniques, which have proved to be good at predicting future market behaviors, the experts came up with a new weekly forecast. To some extent, this is a consensus forecast, which takes into account the predictions based on various approaches, techniques, and methods of technical and graphical analysis. This allowed them to come up with a more-or-less clear picture, including the most probable scenarios of the trading week.
 
Having studied the set of factors that can possibly affect EUR/USD, the analysts report that the key event of the week to watch out for is the forthcoming urgent summit of European leaders, where they are expected to discuss the so-called Brexit. The event is planned for November 25-26. If the talks turn out to be a success, the currency pair may go back to November highs around 1.1470 and 1.1500. Over 40% of the experts participating in the consensus forecast share this opinion. The remaining 60% of them expect a stronger dollar.
 
On Wednesday, the USA is to publish their GDP figures for Q3 2018. Should the figures turn out to be stronger than the previous ones (for Q2 2018), the U.S. dollar will definitely get considerable support. Another major event scheduled for the trading week is the Fed's FOMC meeting that's to take place on Thursday. The experts don't expect any surprises from the financial regulator. The bears' goals are located around 1.1300 and 1.1215 - the low of 2018. If the price breaks below that level, the next level of support is 1.1120. Around 15% of the oscillators on H4 are indicating an oversold market, which may hint at a slight recovery in the coming days.
 
In case with GBP/USD, almost 100% of the indicators are painted red. However, the situation may well change while driven by this week's major news and events. Once again, it's all about the Brexit. The European leaders should decide on the terms and conditions of Great Britain leaving the European Union. Should they come up with an agreement, it should also be approved by the British parliament. Chances are, the parliamentarians will reject the agreement, the experts say. If that's the case, there should be another round of voting, which is likely to be scheduled for February 2019 in this case. Apparently, such a scenario is no good for the British Pound since the investors will probably start  withdrawing their investments from the British Pound, thereby making it weaker. The closest levels of support are 1.2720, 1.2695, and 1.2660. The closest levels of resistance are 1.2885, 1.2925, and 1.3025.
 
As for the Japanese Yen, it often moves against the trend of major European currencies. With that being said, JPY often moves up when EUR and GBP move down. Over 55% of the experts, coupled with 90% of oscillators, and 70% of trending indicators, expect USD/JPY to move down to 112.60  and below.
 

1543034399_USDJPY_26.11.2018.png

 

At the same time, they don't deny the possibility of testing 112.00. However, since the market is oversold, 45% of he experts do not deny a rally up to 113.15-113.40 and 114.20-114.55.
 
As for cryptocurrencies they are likely to keep moing down in value, with Bitcoin probably trying to test $4000 USD/BTC. If that's he case, the next target is $3000 USD/BTC. At the same time, there are rumors that Ethereum-based smart contracts have vulnerabilities. If that's true, may well expect another round of weakness for ETH/USD.
 

There's good news for crypto bulls. THere is a divergence between the BTC exchange rate and many oscillators. This fact may hint at a highly probably recovery, even though it may be a short-term bullish trend.  

 

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

 

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

Cryptocurrency Market Will Get Feverish By Mid February 2019

There is quite a lot of factors out there capable of influence the currency market in general, and cryptocurrency market in particular. In their turn, currency exchange rates can influence the entire world. At the same time, professional traders and investors take those exchange rates into account to avoid losses and make profits. At the same time, they don't mid taking expert opinions into account to be more accurate in their own predictions as well as the trading decisions based on them.

Publication date: 11 February 10:36 AM

NordFX. Forex and Cryptocurrency Forecast. Early February 2019

NordFX is back with their weekly consensus forecast for the week. We must confess that the forecast based on a number of technical indicators and expert opinions have been really efficient in predicting future market behaviors. With that being said, this is an overview of the recent forecast made for the current trading week, which is February 4-8, 2019.

 

Publication date: 04 February 11:05 AM

Chinese New Year

Full amount of credited bonuses is available for withdrawal without any restrictions. All bonuses are credited as an additional balance transaction in the account history.


Publication date: 03 February 03:20 AM

Experts on Cryptocurrency Market Prospects

Over the last few years, Bitcoin has dropped in value considerably. International experts are trying to figure out how the market situation may change in the near future.

Publication date: 03 February 02:25 AM

Dollar Will Go Higher, FortFS

Given the current tension present in the international arena these days, more and more market players are closely watching the major currencies' exchange rates. In their analytic forecast, FortFS experts have named a few factors capable of affecting the U.S. Dollar. The exerts say that the index futures indicate a positive start for the American stock market.
Publication date: 20 January 01:42 AM

NordFX Names Key Events for Forex and Cryptocurrency Markets

NordFX is back with their weekly consensus forecast for the week. We must confess that the forecast based on a number of technical indicators and expert opinions have been really efficient in predicting future market behaviors. With that being said, this is an overview of the recent forecast made for the current trading week, which is January 14-18, 2019.
Publication date: 15 January 09:34 AM

NordFX Sums Up On 2018 and Makes Predictions About 2019

Summing up and making predictions for the next year has become a good tradition at the end of each year. According to NordFX expert John Gordon, Deutsche Bank summed up on the results of its work in 2018. The actual result turned out to be a loss. In particular, it turned out that around 93% of all the assets owned by the bank have depreciated as opposed to that value in January 2018. This is the worst financial performance in 118 years! 2018 beat even 1920 when 84% of the assets decreased in value.
Publication date: 02 January 04:08 AM

Bitcoin and Euro Will Likely Go Down, NordFX

It's not a secret that currency exchange rate have been playing a key role in our lives for decades. In particular, those exchange rate determine inflation rates, consumer prices, and so much more. What is awaiting the international currency market this trading week?

 
Publication date: 25 December 09:44 AM

Christmas Fairy Tale by FortFS

FortFS has been now for its promos and bonuses for years. Christmas and New Year are coming. This means that it's time for new pleasant surprises. With that being said, FortFS wants to congratulate all of its existing and future clients and wishes them Merry Christmas and happy New Year. To celebrate together, FortFS has announced a new promo. It's called "CHRISTMAS FAIRY TALE".

Publication date: 18 December 12:52 PM

Bitcoin Will Decline, Dollar Will Grow, NordFX Predicts

Whether we are aware of this or not, currency exchange rates have been affecting our lives for decades. However, more and more retail traders and investors are now getting increasingly interested in financial markets in general and Forex in particular. or the most part, all of those changes in exchange rates are they key factors determining their financial results at the end of the day.
 
Publication date: 17 December 12:29 PM