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TitoC

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  1. Following a week of generally positive volatility in the cryptocurrency markets, multiple altcoins are now trading down 5% or more as Bitcoin failed to stabilize above $6,500. The recent market action ultimately leaves investors wondering the same question that has been pondered all year: will the markets see an end-of-year rally as we head into the winter months? At the time of writing, Bitcoin (BTC) is trading at $6,450 on the aggregated markets, down just over 1% over a 24-hour trading period. Despite falling below $6,500, Bitcoin is still trading within its long-established trading range between $6,200 and $6,700, and it has yet to decisively move above or below the parameters of this range. As mentioned in yesterday’s market update, during BTC’s period of sideways trading, multiple altcoins have had an incredibly profitable week, with the recent market surge being primarily led by Ripple (XRP) and Bitcoin Cash (BCH). Today, however, these two cryptocurrencies have been the worst performers, with XRP trading down nearly 8% and BCH trading down just over 6%. Despite having a rough day filled with bearish trading volume, these two cryptocurrencies could see better pricing in the coming days, depending on whether or not today’s drop was simply a temporary retrace resulting from profit taking from traders. Bitcoin Cash especially has a high chance of seeing continued gains up until its hard fork event which is scheduled to occur on November 15th. Traders are automated forex trading platform and They may place long positions on BCH in hopes of continued buying preceding this event, and investors may increase their positions in order to get free units of the cryptocurrency resulting from the hard fork.
  2. In my free forex strategies, I forecast for the high and low was accurate. I did not consider the jump from the high (1.1447). I expected a fall to the trend line on Friday, while sellers passed this yesterday. In addition, there was a breakout of the upwards channel and the area around the 112th-135th degree acted as a support.
  3. Thanks for share. My opinion about trading EUR/USD downside pressure builds up towards the 1.3000 zone. This is coming on the back of its pasty week price weakness. Support lies at the 1.1300 level where a violation will aim at the 1.1250 level in forex metatrader 5. A break below here will aim at the 1.1200 level. Further down, support lies at the 1.1150. On the upside, resistance resides at 1.1350 level with a break through there opening the door for further upside towards the 1.1400 level. Further up, resistance comes in at the 1.1450 level where a violation will expose the 1.1500 level. All in all, EUR/USD continues to face further downside pressure medium term
  4. The euro fell markedly against the US dollar after the publication of the European Commission's report, which is expected to slow the Eurozone economy in 2019. The European Commission lowered the GDP forecast in the Eurozone from 2% to 1.9%. After the meeting, the US Federal Reserve's Open Market Committee (FOMC) accelerated the pair's descent. As expected, the FOMC decided to leave key interest rates in the country in the range of 2.00%-2.25%. The Committee confirmed its forecast for a gradual increase in interest rates. The statement that risks would remain balanced was present in the September statement, and remains intact. The next meeting is scheduled for December. Another rate hike is expected later this year. You can practice forex demo contest here! Day's news (GMT+3): 10:45 France: industrial output (Sep). 12:30 UK: GDP (Q3), total business investment (Q3), industrial production (Sep), trade balance (Sep), construction (Sep). 16:00 UK: NIESR GDP estimate (Oct). 16:30 US: PPI (Oct). 18:00 US: Michigan CSI (Nov). 21:00 US: Baker Hughes US oil rig count. Fig 1. EURUSD hourly chart Current situation: Our forecast for the high and low was accurate. I did not consider the jump from the high (1.1447). I expected a fall to the trend line on Friday, while sellers passed this yesterday. In addition, there was a breakout of the upwards channel and the area around the 112th-135th degree acted as a support. I did not make a forecast for Friday due to the conflicting situation we have. The price may fall to 1.1313, or via a correctional movement under the trend line. There is no important news scheduled for today for the euro, and should the euro strengthen to 1.1375, that could cancel the bearish scenario. Source: https://alpari.com/en
  5. USD/CAD on the other hand remained relatively rangebound. The blowup in Turkey, wild swings in oil, release of key Canadian economic reports and the diplomatic rift between Canada and Saudi Arabia failed to have a significant impact on the currency. This is because of the divergent effects on the loonie. On the one hand, political tensions, oil prices and Turkey’s problems is negative for CAD (and positive for USD/CAD) but the unexpectedly strong employment report reinforces expectations for a rate hike by the Bank of Canada this year. Not only was job growth in July the strongest this year but the gain in services employment was the largest on record. The unemployment rate also declined to match its 40-year low. Rate hikes in the current environment could become rare making the Canadian dollar more attractive compared to other major currencies in my most successful forex strategy for trade right now.
  6. Now in EURUSD the question is how to deal in forex trading right now? For the first time in over a year EUR/USD is trading below 1.15. The single currency has been trending lower since the beginning of the second quarter and has come close to testing this support level on numerous occasions. The meltdown in Turkey was the straw that broke the camel’s back, opening the door to the deeper slide toward 1.12. There wasn’t much Eurozone data released over the past week but the few reports we had were far from impressive as factory orders and industrial production in Germany tumbled. The calendar heats up in the week ahead with Q2 GDP, CPI and ZEW scheduled for release. However all that will take a backseat to Turkey’s troubles. Banco Bilboa Vizcaya Argentaria, UniCredit and BNP Paribas (PA:BNPP) have the greatest exposure to Turkish debt and many of their loans are unhedged. According to data from the Bank of International Settlements, Spanish lenders are the most exposed followed by Italian and French banks. Over the last year the Lira has lost 33% of its value and its cost of servicing its debt has risen to the highest level in 9 years. If Turkey’s economy crumbles more migrants could be headed to the EU, making Turkey a political and economic crisis for the region. From a fundamental and technical perspective, the euro is vulnerable to additional losses.
  7. The single currency has been trending lower since the beginning of the second quarter and has come close to testing this support level of fibonacci numbers trading forex on numerous occasions. The meltdown in Turkey was the straw that broke the camel’s back, opening the door to the deeper slide toward 1.12. There wasn’t much Eurozone data released over the past week but the few reports we had were far from impressive as factory orders and industrial production in Germany tumbled. The calendar heats up in the week ahead with Q2 GDP, CPI and ZEW scheduled for release. However all that will take a backseat to Turkey’s troubles. Banco Bilboa Vizcaya Argentaria, UniCredit and BNP Paribas (PA:BNPP) have the greatest exposure to Turkish debt and many of their loans are unhedged. According to data from the Bank of International Settlements, Spanish lenders are the most exposed followed by Italian and French banks. Over the last year the Lira has lost 33% of its value and its cost of servicing its debt has risen to the highest level in 9 years. If Turkey’s economy crumbles more migrants could be headed to the EU, making Turkey a political and economic crisis for the region. From a fundamental and technical perspective, the euro is vulnerable to additional losses.
  8. In the forex trading fundamental analysis now, All 3 of the commodity currencies traded lower on Friday. NZD/USD extended its post RBNZ slide while AUD/USD finally broke its 2 month long range to trade at its lowest level in 19 months. The first leg of the move happened after RBNZ and Turkey triggered the second. Australian fundamentals aren’t terrible but as a high beta currency, AUD has and could continue to sell-off on risk aversion but when the turn happens, it could be one of the first to benefit. The RBA minutes were relatively positive.
  9. The U.S. dollar rose against its rivals Thursday. A rout of the euro prompted traders to buy the greenback after European Central Bank President Mario Draghi reiterated that rates would remain on hold until next year As planned in the forex market news calendar of this Wednesday. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.46% to 94.41. Draghi said Thursday that there was no need to "modify or add new language" to the bank's forward guidance on rates and reaffirmed plans to keep rates unchanged “through the summer of 2019.” Draghi added that market expectations of rate hikes were "very well aligned" with the bank's own projections. That all but confirmed investor expectations that ECB is unlikely to hike interest until October 2019, pressuring the euro to drop against the greenback. EUR/USD fell 0.54% to $1.1665. A trio of reports showing weak U.S. economic data did little to limit the greenback's advance as investors remained optimistic on domestic economic growth ahead of second-quarter GDP data due Friday. The Commerce Department said on Wednesday core durable goods orders rose 0.4% last month, missing economists' forecast for a 0.5%. The U.S. Department of Labor, meanwhile, reported Thursday that initial jobless claims increased by 9,000 to a seasonally adjusted 217,000 for the week ended July 21, missing economists’ forecast for a drop to 215,000. The goods trade deficit -- which measures the gap between what the United States imports and what it exports -- widened to $68.33 billion in June. The greenback was also supported by a slump in the pound as Brexit-related angst continued to weigh. GBP/USD fell 0.48% to $1.3127. The pair remains well above the lows seen last week, when it dropped below $1.30. USD/JPY rose 0.16% to Y111.16, while USD/CAD rose 0.09% to C$1.3059.
  10. According to the H4 chart, the GBPUSD pair continues to find itself in a downwards trend: The chart shows that the pair is currently testing the trend line. In other words, the GBPUSD pair is going through a correctional phase within the downwards trend. I reckon that the EURUSD pair is going to play a major role in the dynamics of GBPUSD in the coming days, because there is often a well-defined correlation between the movements of the two pairs. Remember that the results of the ECB meeting come out at 14:45 (GMT+3), with the subsequent press conference starting at 15:30 (GMT+3). As such, I think that the GBPUSD pair will take its cue from EURUSD. However, the correlation between the GBPUSD and EURUSD pairs may start to weaken at the beginning of next week, because the Bank of England’s next meeting on monetary policy is taking place on Thursday the 2nd of August. Because of this, market participants trading on the pound will already have the meeting in mind from the beginning of the week, so whatever effect today’s ECB meeting has on the pound will start to subside at that point. Returning to the chart, I’d like to emphasise that in my opinion, it will most likely become clear whether or not the downwards trend can be revived once the BoE meeting has concluded. At the time of writing, the GBPUSD pair is trading at the 1.3177 mark. You can learn to trade the forex more in Alpari.com
  11. The futures markets attract a certain type of speculator,if you want to success then you need learn foreign exchange trading as they offer significant benefits at practically a fraction of the cost. For example, in order to trade on equity markets such as the US S&P500, an investor would need a significant sum of money. Secondly, when trading an index where there is no leverage available, the investor must ensure that they have adequate funds to support their trading activity. Then, there is also the risk of price fills. In the stock markets and in most other markets, the price at which you want to buy and the price at which your order will be fulfilled can differ. In some cases your order might be filled only partially. This is due to the nature of the markets, and for speculators such fills can quickly destabilise their trading. The futures markets, although created for a specific purpose, have become a vehicle for day traders. Day traders take advantage of the benefits offered by futures markets to make a quick profit from the volatility. You no longer need to have a capital of $25,000 to trade on futures markets. Many day traders in futures can trade for as little as $5,000 if not less. These day traders trade the same markets as investors, but there are slight differences. The biggest benefit that futures markets offer traders is that the contracts are already leveraged. Furthermore, futures contracts are standardised and cleared through an exchange, thus making them more trustworthy to trade. Last but not least, futures markets are very liquid and allow traders from anywhere in the world to trade the various contracts.
  12. It has already been announced that Tillerson will be replace by CIA head Pompeo. This reshuffle at the top level of government heaped pressure on the dollar and stock markets. US10Y bond yields have dropped from 2.88 to 2.8330%. CPI data confirmed the consensus, although prices didn’t grow as much as they did in January. These figures lower the probability of the Fed raising interest rates 4 times this year. The consumer price index for February posted 0.2% growth MoM and 1.8% YoY (forecast: 0.2% MoM, 1.8% YoY, previous: 0.5% MoM, 1.8% YoY). The month on month value is significantly lower than that of the previous month. Yesterday’s target was reached. Buyers met with resistance at the 90th degree, from where a rebound to around 1.2340 occurred. Trading closed around the 112th degree. The euro’s rise was brought about by Trump’s decision to sack Rex Tillerson. Since Trump immediately nominated Pompeo to the post, markets have already factored this news in and it shouldn’t have any more of an effect. This also affects other currencies such as the turk lira exchange rate.According to my pricing model from the 8th of March, the pair could easily return to 1.2446. However, in order for this to happen, buyers need to cross the trend line at around 1.2450. There are lots of speeches from the ECB today, so I don’t think the line will be broken. I think buyers will take the opportunity to test the trend line at 1.2390. If the rate drops below 1.2390, there will be an increased risk of dropping further to the 45th degree at 1.2356. By this time, it will also be supported by the LB balance line.
  13. Very interesting, that's why the idea of investing in unusual currencies has called me, such as the singapore dollar, norweigan currency, brazilian real and others, since they are more predictable nowadays
  14. The EUR/USD broke above 1.2400 during Asia trade but European Central Bank President Draghi brought it right back down at the start of the European session. Given his dovish comments at the last ECB meeting, his cautious comments were no surprise. He said policy must be patient and persistent because underlying inflation remains subdued and inflation needs to rise to end Quantitative Easing. He also added that the euro’s strength could weigh on inflation, which implies that the stronger the euro rises, the less inclined they will be to taper asset purchases. You can receive metatrader signals to your cell phone
  15. Yesterday’s target was reached. Buyers met with resistance at the 90th degree, from where a rebound to around 1.2340 occurred. Trading closed around the 112th degree. The euro’s rise was brought about by Trump’s decision to sack Rex Tillerson. Since Trump immediately nominated Pompeo to the post, markets have already factored this news in and it shouldn’t have any more of an effect. According to my pricing model from the 8th of March, the pair could easily return to 1.2446. However, in order for this to happen, buyers need to cross the trend line at around 1.2450. There are lots of speeches from the ECB today, so I don’t think the line will be broken. I think buyers will take the opportunity to test the trend line at 1.2390. If the rate drops below 1.2390, there will be an increased risk of dropping further to the 45th degree at 1.2356. By this time, it will also be supported by the LB balance line. You know when the market is in fx market holidays, Easter is coming
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