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Wednesday, 27 May 00:59 (GMT -05:00)



Foreign exchange market

Dollar Will Keep Going Down, NordFX Experts Say


Right before the start of the last last trading  of this summer, 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 October 4th - 11th. So, this is what those predictions look like:
 
- EUR/USD. The new trading week promises to be interesting in terms of major economic releases allowing us to figure out the money-and-currency policies of Brussels and Washington for the near future. Backed by the D1 chart, around 60% of the experts have voted for a weaker euro, and they don't deny the likelihood of setting a new local low below 1.0880, which is the low set on October 1st. 
 
The remaining 40% of the experts anticipate the opposite scenario. Their opinion is backed by the situation on the H4 chart. To be more specific, they say that the common European currency still has some upward potential, which is why they expect the currency pair to continue rallying, probably up to 1.1100.
 
- GBP/USD. It's around 3 weeks left till the Brexit deadline. Very few representative of the international community belive that Boris Johnson will manage to agree with Brussels break up on some mutually beneficial terms over this period. With that being said, the chances of delaying the Brexit date or quitting without a major agreement keep on growing day by day.
 

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So, 65% of the experts participating in the consensus forecast assume the pound is very likely to continue its way down to new lows against the dollar. In particular, they don't deny a move below 1.1960, which is September's low. At this point, the key levels of support are located around 1.2200 and 1.2070. The remaning 35% are bullish on the pound against the dollar. They expect a move up to 1.2525.
 
- USD/JPY. Most expert predict a stronger yen, with USDJPY moving down to new local lows at least until the end of 2019. This scenario is backed by the trending indicators located on H4 and D1 as well as 75% of the signals coming from W1. The bears' targets are located at 106.50, 105.70, 105.00, and 104.45, while the bulls' ones are 107.55, 108.50, and 109.00. 
 
- Cryptocurrencies. As for the cryptocurrency market, enthusiasts keep on trying to persuade international investors that Bitcoin is about to get stronger based on the limited supply. Some of them are way too positive and saying that Bitcoin is going to reach 1 million dollars per coin in 2020. At the same time, the growing number of skeptics say that not only have digital currencies failed to become a commonly recognized means of payments, they keep on moving away from the original concept.
 
75% of the experts belive that Bitcoin and other altcoins are likely to stay flat in the coming days, with the bears slightly dominating the market, which may also trigger a move down to the 7500-7700 area. A rally above 8500-8600 is something that only 25% ofthe experts belive in at this point.
 

 

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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:
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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