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Thursday, 11 August 08:56 (GMT -05:00)

Foreign exchange market

Coronavirus's Impact On Markets Intensifies, NordFX

The period when the coronavirus makes everyone stay at home can be seen as a perfect time for traders and investors to do some extra trading and investing. To help both rookies and seasoned traders and investors to navigate the markets and see the current tendencies much clearer, NordFX has come up with yet another weekly set of forecasts:
- EUR/USD. International governments and regulators keep on fighting for their economies by taking unprecedented steps. For example, the Fed has launched the short-term borrowing program for commercial banks. The ECB has announced an even bigger quantitative easing session.
With that being said, 55% of the experts are bearish, and their stand point is backed by 85% of the oscillators and trending indicators on H4. According to 45% of the experts, the currency pair may go north if the dollars starts getting weaker. It's interesting to note that 15% of the oscillators are indicating an oversold market.
The H4 charting makes it possible to wait for a sharp drop down to 1,0950, with a further recovery up to 1.1100 and maybe even another 100 points. D1 is showing us an ambiguous picture. The current levels of supports are located at 1.1065, 1.1000, 1.0850, 1.0750, while the current levels of resistance are located at 1.1175, 1.1240, 1.1350, 1.1500.
- GBP/USD. At the end of the previous trading week, all of the trending indicators were looking south. At the same time, 20% and 15% of the oscillators on H4 and D1 respectively were indicating an oversold market, which indicates the possibility of a correctional move or even a trend reversal in the upward direction. The D1 charting backs this assumption. It indicates that after reaching the bottom around 1.2200, which is October's low, the currency pair is likely to reverse and move north up to the 1.2425 resistance, or even 1.2565.
Given the fluctuation range, we should pay attention to other two support levels 1.2065 and 1.1960, as well as 1.2725 and 1.2870. Chances are, the price may break out of these bounds. With that said, the experts have failed to make clear predictions about the currency pair for the week. As for the next couple of months, 75% of them expect a rally up to 1.2900-1.3100.
- USD/JPY. According to 60-70% of the experts, the Japanese Yen is going to weaken over the next 2 months, with the currency pair going in the 108.30-109.75 area, and then reaching 112.00-112.40. The next bullish target is 200 points higher.

График USD JPY от NordFX


A possible fluctuation of the Japanese interest rates may surprise investors. Otherwise, this may tip the scales in favor of the yen, which means a downtrend for the currency pair to pin through 105.90, 104.50, and 103.15. The bears are aimed at reaching last week's low, with a chance to test 101.00.
- Cryptocurrencies. In the cryptocurrency market, the experts are trying to explain last week's events. Some of them say, the drop is all about speculative moves, while others think that's something that proves that people don't trust digital currencies enough. At the same time, probably some investors decided to cash out amid the coronavirus panic.
This week, 65% of the experts say that BTC/USD may reach 6000-6500 dollars per coin. Another 35% say it may drop all the way down to 5000 dollars per coin.  Only 20% of them belive that Bitcoin will have consolidated above 7000 dollars per coin by the end of the month. The same amount of the experts predict a crash all the way down to 3000-3500 dollars per coin.
NordFX experts strongly recommend that we keep in mind the specifics of the existing situation. Amid the COVID-19 panic, when the markets are feverish like never before, it's not recommended to rely on predictions. The situations may change rapidly, and so may the related predictions.


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VWAP Indicator. Usage Peculiarities.

In order to get a competitive edge over others and simplify the process of reaching the trading goals, many traders take advantage of a number of helper tools like trading strategies and indicators. Today, we are going to take a closer look at the indicator named Value-Weighted Average Price (VWAP). What are the benefits of using it and why do they recommend using it?

Publication date: 30 October 10:55 AM

Forex Consolidation. EUR/USD and GBP/USD

The stock market has been ambitious in its attempt to eliminate September's retracement and take the "blue wave" into account but the forex market has been more conservative recently in terms of restoring risky bets. However, when it comes to the stock market, each and every scenario out there eventually boils down to the smart money, which cannot but affect the international currency market. Still, there are many questions to be answered yet, which makes it really difficult to make more or less clear predictions.

Publication date: 12 October 10:58 PM

Tape Patterns Indicator

Traders often use various kinds of technical indicators these days. The list can be rather long, from popular ones like RIS, MACD etc. to less popular ones like Tape Patterns.
Publication date: 30 September 08:52 AM

Bitcoin's Getting Ready For a Strong Rally

While Bitcoin could have been more volatile over the recent weeks, the king of cryptocurrencies stoped in the range between 10K and 11K dollars per coin. Do BTC miners know in which way the coin is going in the near future?

Publication date: 30 September 04:07 AM

Bloomberg: Crypto Is Better Than Gold In 2020

According to the recent Bloomberg report, cryptocurrencies are way better than gold in terms of investments in 2020. Which is interesting, most cryptocurrencies have been growing much faster than gold this year. It's not a secret that gold is considered a safe-haven asset amid crises. Bloomberg Galaxy Crypto Index (BGCI) has gained 66% this year,while gold has gained only 20% over the same period.
Publication date: 29 September 01:07 PM

Gold Prices Drop Below $1860/oz, Seeing A Major Downtrend

On Thursday morning, the spot price of gold dropped roughly down to $1850/oz withing the scope of a strong downtrend started earlier this week, with a strong gap from the consolidation level. The key factors contributing to the price drop was the sudden strengthening of the U.S. Dollar.

Publication date: 25 September 07:39 AM

Texas Authorities Spot New Crypto Scams

The TSSB, which is the financial regulator of Texas, is reported to have revealed a couple of potential scams in the international market of cryptocurrencies. These are named Forex Birds and PEK Universe. From now on, both of these projects cannot work in Texas anymore. These projects were banned on September, 3rd.

Publication date: 18 September 01:07 PM

Cryptocurrencies On Sale: ChainLink and TRON Go Down, Bitcoin Is Stable

Wednesday's session is bringing a retracement in the market of digital assets, which is affecting the entire crypto market cap. Chainlink (LINK), TRON (TRX), and Tezos (XTZ) have been the biggest losers over the last 24 hours. They lost 9,7%, 8,7%, and 5,5% respectively. Bitcoins remains stable and one of the very few tokens among the top 20 that are still showing some gains, though modest ones.

Publication date: 16 September 12:04 PM

What's Next For Bitcoin?

Some analysts argue the future of Bitcoin, also known as the digital gold. Last week, the Winkelvoss brothers stated that the BTC price may skyrocket all the way up to 500.000 dollars per coin in the near future. This opinion is shared by Bloomberg analysts. But on the other hand, Bitcoin may see the opposite scenario, which is a major crash to make it as cheap as dirt.

Publication date: 10 September 03:00 AM

How To Get Ready For Bitcoin Boom 2020?

Cryptocurrencies keep on growing in value. If you are going to buy your first coins, this is what you should do first.
Publication date: 30 August 11:27 AM