Market analysis and trade recommendations by FBS

[SebsCubs]

How to create your own trading strategy?
http://bit.ly/2Qvf2Qs
Experienced traders rely on the thoroughly elaborated trading strategies. They know that although there might be some deviations in the exchange rates, they do follow certain patterns. As a result, it’s necessary to have a strategic approach to trading. That’s why we encourage you to build your own trading strategy.

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European equities are backed by trade war truce

More at: http://bit.ly/2FXn150

03.12.2018

On Monday, autos, miners, tech as well as crude stocks all managed to surge, powering the EU’s key benchmarks after Chinese and American presidents agreed a temporary truce in their everlasting trade conflict that has roiled financial markets worldwide.

The DAX index in Germany, which appears to be the most sensitive to China as well as trade war worries, led the way with a 2.5% leap, reaching its highest value since November 14. Additionally, the STOXX 600 rallied by 1.9%, finding itself on track for its most productive day for eight months.

Financials appeared to be the greatest boost to EU equities because China-exposed bank HSBC tacked on and lenders across the region welcomed the prospect of a détente in a trade conflict that has impacted world economic surge prospects.

Mining shares SXPP led profits with a 5% ascend because metals rallied on the news that gives China, the world's number one metals consumer, a good push.

Anglo American, Glencore, and Antofagasta happened to be among the top EU gainers, soaring by 6.1%- 6.9%.

Car equities SXAP that have been affected by worries of soaring levies, headed north by up to 4.2% right after US leader told that China had agreed to reduce import levies on American-made vehicles.

German car makers Volkswagen, BMW, Daimler rallied by 4.8%-6.2%, while car suppliers ascended too. Moreover, tire maker Continental ascended by 4.1%, while Faurecia tacked on by 6.9%.

As for the crude sector SXEP, it gained 2.6% because oil jumped on the trade conflict truce and also ahead of this week’s OPEC gathering, anticipated to result in a supply cut.

Luxury stocks extremely sensitive to the Chinese economy also turned out to be among top performers, with heavyweight conglomerate LVMH adding 5.3%. Additionally, Gucci owner Kering surged by 6.2%.

 

[SebsCubs]

News to trade on December 4

Check the candles: http://bit.ly/2UdlDhI

04.12.2018

During the Asian session, the US 10-year Treasury bond yield fell to its three-month lows. Analysts mention the slowdown of inflation as the main reason for this slump.

As a result, USD/JPY fell sharply below the central pivot at 113.445 and 50-day MA, testing the ground at the 112.860 support.

The speech by the Federal Open Market committee member Williams at 17:00 MT time can support the US Dollar. If his speech contains hawkish comments, the pair can stick above the 112.860 level.

EUR/USD keeps appreciating against the weak US Dollar. Today, the Italian Prime Minister Giuseppe Conte will present the new budget proposal to the EU. For now, the anticipated target is 2% (vs. previous 2.4%). However, the actual target could be even lower. If the new deficit target satisfies the market, the EUR will stick above the resistance at 1.1391. The next resistance lies at 1.1432 (50-day ma). If the USD is supported by the FOMC member’s speech, EUR/USD will fall towards the support at 1.1329.

Today, the general advocate for the European Court of Justice published an opinion in which he said the UK could revoke Article 50. It provides hope for British supporters to stay in the European Union to reverse Brexit if the withdrawal agreement by the British Prime Minister Teresa May is rejected by Parliament on December 11. At the time of writing, GBP/USD has been rising towards the resistance at 1.2833. In case of more Brexit uncertainties, the pair will stick below the 1.2778 level.

As the USD keeps sliding with the 10-year Treasury bond yield at its three-month lows, it boosts the price for gold. Currently, the price for the yellow metal is testing the resistance at $1,238. If this level is broken, the next resistance lies at $1,248. If bulls cannot hold this level, the support for gold lies at $1,230.

The latest news from OPEC contained information about a planned output cut of at least 1.3 million barrels. Brent has already tested the resistance at $63.09 on the news. Further comments about output cut will help the crude to stick above $63.09. If the news on the increased output appears, the price will fall towards the support at $60.88.

As for WTI, the anticipation of the output cut will help its price to break the resistance at $53.93 and rise towards the next resistance at $55.32. If bears take over, the support for it lies at $52.21.

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News to trade on December 5

More at: http://bit.ly/2SqsmmC

05.12.2018

Yesterday's tweet by US president Donald Trump renewed fears about reaching the trade deal with China. "We are either going to have a REAL DEAL with China, or no deal at all”, - said Mr. Trump. In case of no deal, the US will charge a huge number of tariffs against Chinese production. It increased the risk aversion across the financial markets in Asia.

During the Asian session, the Australian dollar fell on the release of the weak GDP. The Australian economy grew by 0.3% in the 3rd quarter, a lower level than the expected 0.6%. The decline happened due to the increased household consumption, driven by spending on food and housing. In addition, the household saving ratio declined to 2.4% in the 3rd quarter. This is the lowest saving rate since December 2007.

AUD/USD has already tested the support at 0.7285 on the news. The strong USD can make the pair retest this level. If the risk-on sentiment across the equity markets increases due to more certainty in the US-China trade deal, the aussie will rise towards the resistance at 0.7370.

EUR/USD fell as the US Dollar had strengthened yesterday after the optimistic comments by the FOMC member John Williams. He anticipates further interest rate hikes by Fed.

After that, the risk-off sentiment contributed to the rise of the greenback. As for the euro, the Italian budget news keeps triggering investors and traders.

If the EUR is supported by the positive news from Italy, EUR/USD can rise towards the resistance at 1.1391. Otherwise, if the USD keeps gaining, the pair can stick below the support at 1.1329.

The European Central Justice announced on Tuesday that the UK could withdraw the Article 50 anytime. That means the country can move out of Brexit and stay within the European Union. However, the British Prime Minister said the country would not quit Brexit under any circumstances. In addition, May lost the three key votes yesterday. Two of them were forcing her to publish secret government legal advice on her Brexit deal. The prime minister said she would release it on Wednesday.

If more uncertainties on the Brexit agreement come out, GBP/USD can stick below the support at 1.2694. In case of more certainty, the pair will rise towards the resistance at 1.2778.

The Bank of Canada rate statement is scheduled at 17:00 MT time. We anticipate the central bank to leave the rates unchanged this time, however, the Governor Stephen Poloz and his colleagues may provide hawkish statements, which may signal the possible increase in the rate in January. In addition, the recently-signed USNCA agreement supports the BOC's hawkish view. If the BOC delivers supportive comments for the CAD, USD/CAD will fall towards the support at 1.3195. If the central bank’s statement disappoints investors and the USD is stronger, USD/CAD will stick above the resistance at 1.3277.

 

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News to trade on December 6

Check the candles: http://bit.ly/2EgZFWn

06.12.2018

The Chief Financial Officer of Huawei Technologies Co was arrested in Canada over potential violations of US sanctions on Iran, which fueled the trade tensions between the US and China and increased the risk-off sentiment across the equity markets.

During the Asian session, the Australian dollar fell below the 100-day MA, testing the support at 0.7226. The reason for it lies in the dovish outlook for 2019 by the Reserve Bank of Australia. Yesterday’s weak GDP release had a significant impact on the RBA message. If the capital’s outflow from the risky assets continues, the pair will stick below the 0.7285 level and fall towards the next support at 0.7182 (50-day MA). Otherwise, it will rise above the 0.7226 level.

The Bank of Canada statement did not contain any supportive information for the Canadian dollar yesterday. Today, USD/CAD has already crossed the resistance at 1.3368 and has risen towards the next resistance at 1.3450.

The pair is waiting for two releases today: the Canadian trade balance at 15:30 MT time and the American ISM non-manufacturing PMI at 17:00 MT time. According to forecast, we will see the deficit of 7 million Canadian dollars in the trade balance of Canada. If actual figures outperform the forecast, the CAD will be supported. If the trade balance for Canada is greater than expected, the pair will fall towards the 1.3368 level. If it’s broken, the pair will target the next support at 1.3277. Otherwise, if the USD is strong, the pair will be able to stick above the 1.3450 level.

EUR/USD is trading sideways with strong support at 1.1329. If the USD is supported by higher-than-expected Non-Manufacturing PMI, the pair will fall towards the next support at 1.1256. Otherwise, it will sick above 1.1329. The next resistance is placed at 1.1391.

The highly anticipated OPEC+ meeting is scheduled for today in Vienna. According to the recent comments by the OPEC+ members, the production cut will be around 1 million barrels per day. The market did not like this low level as both WTI and Brent has dropped on this news. However, the final decision has not been reached. If they agree on the greater oil output cut, the levels of crude’s price will gain. At the moment of writing, the price for WTI has crossed the $52.2 level and has tested the next support at $50.81. In case of the positive outcome, the price for WTI will go up and can stick above $52.20. The next resistance is placed at $53.92. If the sides do not reach an agreement, WTI’s price will stick below the support at $50.81. The next support is at $49.09. Tomorrow, OPEC members will meet with Russia to finalize the oil output cuts.

Brent follows the similar scenario. If the OPEC+ members decide on the cut of oil production, the crude’s price can stick above the resistance at $61.03. Otherwise, it will fall below the support at $59.41. The next support is placed at $57.4.

 

[SebsCubs]

Weekly CryptoNews

More at: http://bit.ly/2Ekt5D3

07.12.2018

Zhao Dong, crypto billionaire, OTC trader: “In the bull market, I don’t persuade people to buy Bitcoin, because it seems easy to make quick money but in fact, it is not. Now, I start to talk people into buying Bitcoin.”

Since the beginning of the week, Bitcoin has been going down. On Monday, it fell below the psychological level at $4,000. Despite the slight recovery on Tuesday, it kept falling and retested the support at $3,617 on Thursday. Today bears managed to pull the price for the digital asset below the $3,617 level. One of the main reasons behind the current panic-selling lies in the postponed decision on the Bitcoin exchange-traded fund (ETF) approval by the US Securities and Exchange Commission (SEC) on Thursday. Another reason may be connected with yesterday's news on a lawsuit against Bitcmain, Bitcoin.com and the Kraken Bitcoin Exchange, which accused them of a plan to take control of the Bitcoin Cash network. If the bearish pressure continues, Bitcoin will fall towards the next support at the September 2017 minimum at $2,970. If the oldest cryptocurrency manages to recover, it will rise above the $3,617 level to the resistance at $4,100.

In other news:

On December 3-5, 199,000 BTC were withdrawn from users, who were inactive since 2014. Transactions were divided by 660 BTC and then were collected on other addresses. No one knows the reason behind it yet.

The largest whale who controls 12 million LTC was found in the Litecoin network.

The share of Tether (USDT) in the market of stablecoins decreased from 90% to 74% during this year.

After the automatic recalculations, the difficulty of Bitcoin mining dropped by 15%. This is the biggest drop since November 2011.

Earlier today, Ethereum’s price collapsed from $100 to $13 on Coinbase Pro but managed to recover in an hour. Coinbase representatives have not commented yet on the sudden crash.

Regulations:

G20 countries will develop the united system for cryptocurrencies’ regulations based on the Financial action task force (FATF) recommendations.

France, Italy, Cyprus, Malta, Portugal, Greece and Spain signed an agreement on a joint promotion of blockchain technologies.

The US authorities decided to analyze the anonymous crypto transactions. Let’s wait where it will go.

New releases:

NASDAQ vice president of Communications approved the plans of the trading platform to launch Bitcoin-futures at the beginning of 2019.

Huawei Corporation launched the cloud blockchain platform for the development of centralized applications.

Bitcoin $3,426.2

Ethereum $85.1

Litecoin $25.24

DASH: $62.85

 

[SebsCubs]

EU equities slump

More at: http://bit.ly/2QMdB0j

10.12.2018

On Monday, escalating US-Chinese trade tensions impacted European equities due to the fact that market participants fled risk at the beginning of a highly uncertain week, with the UK’s parliamentary vote on Brexit looming too as well as chemicals shares affected by a BASF revenue warning.

The STOXX 600 index decreased by 0.9% hitting a new two-year minimum. The FTSE 100 slumped by about 0.4% in Great Britain, while the DAX index decreased by 0.8% in Germany.

Crude stocks SXEP went down by 1.1%, erasing their 2018 profits. Crude had been the last sector holding onto profits in the European bloc. All the STOXX 600 sector indices are currently staying in the red (with dives of 26% for cars and banks) or intact on the year.

Equities in BASF went down by 4.7% after the German chemicals company slashed its estimate for this year’s gains on Friday.

BASF counterpart Symrise declined by 3.1%, Sika sank by 5.1%, while Imerys went down by 5%, assisting to drag the pan-European chemicals index SX4P down 2.5% and also making it the worst-performer.

Construction and materials stocks, which are very sensitive to economic surge, declined by 1.5%, while autos stocks SXAP went down by 1.3% because trade tensions generated negative consequences.

Chipmakers Siltronic, STMicro, and AMS went down by 2.9%-5.1% because traders had the tech sector ditched.

French hotel, transport, and retail stocks dived reacting to a fourth weekend of "yellow vest" protests, affecting the national economy.

On the STOXX, LVMH and Kering found themselves among the biggest drags. However, France's CAC 40 didn’t manage to underperform European rivals, losing just 0.6%.

Stocks in British energy utilities Centrica as well as SSE went down by about 3% because traders remained quite passive ahead of a decisive vote on Brexit on Tuesday.

 

[SebsCubs]

News to trade on December 11

Check the graphs: http://bit.ly/2SJ4Q4B

11.12.2018

During the Asian session, Chinese Vice President Liu, US trade secretary and trade representative exchanged their opinions on trade. However, it did not result in the increased risk-on sentiment due to the French and UK political uncertainties. As a result, on the daily chart of NZD/USD, the Doji candlestick was formed. Today, New Zealand anticipates the speech by the Reserve bank of New Zealand Governor is scheduled at 21:15 MT time. If the speech by the RBNZ governor is hawkish, the NZD will stick above the resistance at 0.6890. In case of the dovish comments or strong USD, it will fall towards the support at 0.6811.

As for AUD/USD, on the daily chart, the "inverted hammer" candlestick was formed yesterday. It can mean a possible reversal for the pair. If the risk aversion decreases, the pair can rise towards the resistance at 0.7260. Otherwise, the strong USD will pull the pair below the support at 0.7182 (50-day MA). The next support is placed at 0.7126.

Today we anticipate the release of US PPI and core PPI at 15:30 MT time. According to analysts, the headline PPI will remain at the same level. As for the core PPI, it is expected to increase by 0.1%. Yesterday, strong US Dollar pulled EUR/USD below the central pivot at 1.1374. The form of the candlestick shows an uncertainty among traders, as the pair even tested the level at 1.1437.

If the USD is supported by the PPI release, the pair will fall towards the support at 1.1323. Otherwise, it will stick above 1.1374.

Today, the British Prime Minister Theresa May is due to meet with the European Commission president Jean-Claude Juncker at 20:15 MT time, the European commission president Donald Tusk at 18:00 MT time and German Chancellor Angela Merkel to discuss the Brexit deal. Earlier, the president of the European Council Donald Tusk tweeted that the EU would not renegotiate Brexit deal. In addition, Mr. Junckler commented that the current Brexit deal was the only deal possible. If the negotiations bring more certainty, the GBP will rise towards the resistance at 1.2642. If Theresa May fails to bring positivity to the market, or the USD is strong, it will break the support at 1.2560 and target the next support at 1.2462.

It is not enough just to reach an agreement. OPEC+ brings new challenges to the market with uncertainties over how the coalition will implement its output cuts. As a result, the price for the crude oil fell yesterday.

If positive news about an oil cut is released, the price for WTI will stick above $52.23. More uncertainties will pull the crude’s price towards the support at $49.93.

As for Brent, the bearish pressure will make its price fall towards the support at $58.60. If the crude’s price is supported, the first resistance lies at $61.15.

 

[SebsCubs]

News to trade on December 12

Check the candles: http://bit.ly/2EuaFQ4

12.12.2018

During the early Asian session, comments by US President Donald Trump cheered the markets. He said that he would intervene in Huawei CFO case if it’s good for reaching a great trade deal between the countries and national security. He also noted that negotiations with China have already started via phone. As for Auto tariffs on Japan and EU, they depend on trade negotiations with these countries.However, did not have much effect on the AUD and the NZD due to the strong US Dollar. Positive news on trade deal will help AUD/USD to rise towards the resistance at 0.7260. The risk-off sentiment will pull the pair downwards to the support at 0.7126.

As for NZD/USD, the risk-on mood can help the pair to recover and stick above the resistance at 0.6890. Otherwise, the strong US Dollar will pull it towards the support at 0.6811.

The USD got stronger against the JPY and drove USD/JPY towards the resistance at 113.6. If the USD weakens, the first support for the pair lies at 112.909.

Today we anticipate the release of the headline CPI and core CPI at 15:30 MT time. According to analysts, the headline consumer price index will drop to 0%, while the core CPI will stay at the same level at 0.2%. If the actual data is higher than the forecast, EUR/USD will fall. The first support lies at 1.1260. What can make EUR/USD rise? The successful negotiations between the European Commission president Mr. Juncker and the Italian prime minister Mr. Conte on Italian budget at 17:00 MT time. If the sides will renegotiate on the target of the Italian budget deficit, EUR/USD will rise towards the resistance at 1.1374. Otherwise, it will fall towards 1.1260.

Great Britain is awaiting the Confidence Vote on the Theresa May’s leadership. The members of the Conservative party will vote on whether they have confidence in the current prime minister at 20:00 MT time. If she loses, the leadership contest will begin and it will increase the uncertainty over the Brexit future. The negative news will pull GBP/USD towards the support at 1.2461. Otherwise, if Theresa May protects her place in the government and increases confidence in the Brexit deal, the pair will stick above the resistance at 1.2559.

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[SebsCubs]

News to trade on December 13

Candlesticks graphs here: http://bit.ly/2CauOZa

13.12.2018

According to today’s news, Chinese authorities invited the US for further trade negotiations. They also said to plan more US soybean purchases today. As a result, AUD/USD moved higher. More positive news concerning the trade negotiations between the US and Сhina will push the pair towards the resistance at 0.7260. If the uncertainties increase, the pair will fall towards the support at 0.7182 (50-day MA).

The price for NZD/USD also showed uncertainty. If the risk-on sentiment increases, it will rise towards the resistance at 0.6890 and probably retest it. Otherwise, it will fall towards the support at 0.6738.

Today the economic calendar is highlighted by the ECB monetary policy statement at 14:45 MT time. The European central bank is anticipated to end its quantitative easing policy soon. The comments by the ECB president Mario Draghi may support the EUR. EUR/USD was supported yesterday after the news on the budget cut of the Italian budget deficit and rose to the central pivot at 1.1374. The Italian government has agreed to cut its budget deficit to 2.04% compared to 2.40% previously. For now, it anticipates the approval by the European Commission. For now, it has already crossed this level, heading towards the resistance at 1.1437. If the ECB provides hawkish comments for the euro, it will stick near this level. Otherwise, the pair will fall to the support at 1.1323.

Yesterday, Theresa May won her confidence vote. Today she will meet with the European leaders to find a solution on Brexit. That is why the headlines may bring the volatility to the cable. Bulls pushed the pair higher, the pair crossed the 1.2560 level and tested the resistance at 1.2643. If today’s negotiations turn out to be successful for May, the pair will stick above the 1.2643 level. The next resistance is placed at 1.2740. In case of negative news, it will fall towards the support at 1.2560. The next support lies at 1.2462.

Oil continues to face the uncertainties over the OPEC output cut. In case of negative news, the price for WTI will fall towards the support at $49.93. Otherwise, if the OPEC+ confirms its actions, it will rise towards the resistance at $52.23.

As for Brent, the bearish pressure will pull the crude’s price downwards to the support at $58.6. Positive news will pull it higher. The first resistance lies at $61.15.

 

[SebsCubs]

Bitcoin goes down

More at: http://bit.ly/2CelZh1

14.12.2018

On Friday, Bitcoin along with other key crypto assets declined in Asia. It happened due to the fact that digital token protocol Basis ceased operations and had its capital returned to investors because of regulatory fears.

Eventually, Bitcoin inched down by nearly 3.08% showing a reading of $3,305. As for Ethereum, this digital currency sank too, losing 2.42% being worth $86.2.

Besides this, XRP declined by about 1.32% ending up with $0.29919. Additionally, Litecoin slipped by 3.35% concluding at $23.191.

Geared up towards launching a fully decentralized and stable token absolutely resistant to volatility, on Thursday Basis announced its decision to shut down and also return the invested funds to its owners.

The company actually explained that move by a strong negative impact of the necessity to comply with American securities regulation. Under these conditions Basis doesn’t know how to dodge security status for share and bond tokens, which is undesirable for the startup.

By the way, among the startup’s investors there are Bain Capital Ventures, Silicon Valley venture capital firm Andreessen Horowit, and Google’s capital investment arm GV.

Despite some recent regulation hazards and clampdowns, some countries are still interested in driving crypto assets.

In addition to this, the Gulf Times informed that the key financial institution of the United Arab Emirates is actually working on a joint project with its neighbor, the Saudi Arabia Monetary Authority with the aim of launching a digital coin their for cross-border transactions.

Moreover, French politicians also urged the country’s leader to invest up to EUR500 million in the blockchain sector. On Wednesday, they came up with a report on the ledger technology that proposed to make their country a “blockchain nation.” They are assured that in the nearer future blockchain will drastically change the world, and in particular, France.

 

[SebsCubs]

American equities stand still as trade and economic fears weigh

More at: http://bit.ly/2rF2lVv

17.12.2018

On Monday, American futures were generally intact suppressed by trader fears over the world’s economic deceleration.

As a matter of fact, the S&P 500 futures went down by 0.12% being worth 2,602.38. As for Dow futures, they slumped by 0.14% trading at 24,095. Nasdaq 100 futures slipped by 0.09% reaching 6,616.25.

On Friday, all three indexes concluded in correction territory. It was the first such a settlement since March 2016.

Apparently, trade tensions between China and America put pressure on financial markets after American trade ambassador Dennis Shea told that China’s quite unfair competitive deeds were impacting foreign companies, breaking the World Trade Organization rules.

In December, America and China agreed to a 90-day truce because the two leading economies try to work out fruitful trade talks.

Fiat Chrysler Automobiles found itself among the top performers in premarket trade. Its equities managed to surge by up to 1.4%. As for Tesla, it headed north by 0.3%, while Celgene added 1.1%. In addition to this, Schlumberger ascended by 2.3% right after Nelson Roberts Investment Advisors ramped up their stake in the company by up to 7.21%.

Best Buy went down by 4.2%. As for Johnson & Johnson, its equities sank by 1%. Goldman Sachs headed south by 0.5% after Malaysia came up with charges filed against the company over the 1MBD clash.

By the way, the New York Empire State Manufacturing index for December will be published at 8:30 AM ET.

As for commodities, gold futures managed to tack on by 0.1% hitting $1,243.40 a troy ounce. Meanwhile, crude futures surged by 0.8% being worth $51.90 a barrel.

Gauging the evergreen buck’s actual purchasing potential versus a pack of its main counterparts the USD index declined by about 0.2% hitting 96.69.

 

[SebsCubs]

News to trade on December 18

Check the candles: http://bit.ly/2UTjUP2

18.12.2018

During the Asian session the risk-off sentiment across the markets increased as China’s president Xi Jinping failed to bring updates on the trade truce between the US and China during his speech. As a result, the Japanese yen strengthened against the US Dollar. For now, it has already tested the strong support at $112.49. If it is broken, the next support is at 111.61. If the USD strengthens, the first resistance will lie at 113.11. If this level is broken, bulls will target the next resistance at 113.98.

The New Zealand dollar has been rising on the upbeat level of business confidence. The NZD business confidence increased to -24.1 in December (vs. -37.1 in November). As a result, the kiwi has already crossed the 200-day MA. If NZD/USD continues to move up, it will retest the 0.6876 resistance. If this level is broken, the next resistance is at 0.6961. Otherwise, if the USD gains its strength, the pair will be pulled towards the support at 0.6742.

The euro has been rising due to the weak US Dollar. The Italian and French budget deficits do not affect the market as much as they did. For now, the main focus for the pair remains on the tomorrow's Fed decision on its interest rate and monetary policy. If bulls continue to push the pair up, it will rise towards the resistance at 1.1408. If the USD is supported ahead of the Fed decision, the pair will fall to the support at 1.1338.

The British Prime Minister Theresa May announced the vote on the Brexit plan in the House of Commons to be on January 14. Today, she plans to discuss the chances of a no deal with her cabinet. As the date for the vote brought more certainty, GBP/USD has started to recover. In case of more positive news, the pair will rise further to the resistance at 1.2735. In case of more uncertainty or negative comments, the cable will stick below the support at 1.2605. The next support is placed at 1.2452.

The prices for WTI and Brent keep falling down on the news about the US oversupply. The price for WTI has already tested the support at $48.67. More news about increased oil production will pull its price further to the next support at $47. On the other hand, more hints from OPEC+ on the future production cut will push the WTI price towards the resistance at $49.88. The next resistance lies at $51.55.

Now let's look at Brent's chart. For now, it has been targeting the support at $57.63. If bulls get back their strength, the price for Brent will rise towards the resistance at $58.92. If it's broken, the next resistance is placed at $60.62.

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[SebsCubs]

News to trade on December 19

Check the candles: http://bit.ly/2S5bd29

19.12.2018

The main focus for the market for today will be on the Federal open market committee statement and on the press conference at 21:00 MT (19:00 GMT) time. The Federal Reserve is expected to deliver the 4th rate hike. If the Fed is hawkish, EUR/USD will fall to the support at 1.1338.

However, some of the analysts afraid of the possible dovish tone by the Fed amid the global economic slowdown. If the Fed Chair Powell delivers dovish comments, EUR/USD will stick above the resistance at 1.1408.

According to the news, the British Prime Minister Theresa May agreed to implement the plans for a no-deal Brexit. Further warnings to Great Britain will be announced in the coming weeks. At the moment, GBP/USD has continued its modest gains towards the resistance at 1.27. Any positive updates on the Brexit solution will support the British pound and push it further up to the 1.27 level. Otherwise, if the news on Brexit disappoints investors and traders, the British currency will fall towards the support at 1.2605.

New Zealand anticipates the release of GDP for the third quarter. Experts see the economy of New Zealand to grow by 0.6%. If the actual data is higher, the kiwi will rise towards the resistance at 0.6876. The lower-than-expected data will pull the kiwi down to the support at 0.6826.

The oil prices keep moving down driven by Russian and US high supply forecasts. Russian oil production hit a record 11.42 million barrels this month, while the level of oil production in 7 US shale basins is expected to climb to more than 8 million barrels by the end of 2018. As a result, the price for WTI updated its August 2017 lows and stick below the $47 level yesterday. More concerns on the oversupply will pull the crude’s price towards the support at $45.76. If more hints on the production cut by OPEC+, scheduled for the next month come out, the price for WTI will stick above the resistance at $47.02. The next resistance is placed at $48.68.

As for Brent, its price tested the support at $55.96. If it’s broken, bears will focus on the next support at $55.12. If the price for Brent gets a positive momentum, it will rise towards the resistance at $57.65.

The gold has been going up due to the weak US dollar. If the USD is not supported by the Fed statement, the price for the yellow metal will rise towards the resistance at $1,258. In case of the strong USD, the price for gold will stick below the support at $1,248.

 

[SebsCubs]

News to trade on December 20

Check the candles: http://bit.ly/2LsIhyB

20.12.2018

Yesterday, the Federal Reserve raised its interest rate from 2.25% to 2.5%. However, the comments by the Fed Chair Jerome Powell brought some uncertainty to the market. Fed officials predicted two rate hikes in 2019, instead of three mentioned during the previous meeting. In addition, they cut the long-term expectations for the policy rate. It resulted in the mixed trading of the USD.
In other news, the European Commission brought some positivity to the euro traders. The European Commission vice president Valdis Dombrovskis confirmed the commission has reached a deal with Italy on its budget. It will avoid the excessive deficit procedure and avoid disciplinary measures. As a result, EUR/USD has gained significantly. For now, the pair has already crossed the 1.1408 level. The next resistance for the pair lies at 1.1513. If the USD gains back its strength, the pair may fall back below the 1.1408 level towards the support at 1.1338.

During the Asian session, the Bank of Japan kept its monetary policy unchanged, as expected. USD/JPY was unaffected by this decision, driven mostly by the weak USD and the risk-off sentiment across the equity markets. At the moment the pair has been targeting the support at 111.61. If it is broken, the next support lies at 110.99. If the USD gains back its strength, the pair will move up to the resistance at 112.49.

The Bank of England will present its monetary policy summary and announce its official bank rate votes at 14:00 MT time. The rate hike is not expected, however, the BOE governor Mark Carney and his colleagues may provide some supportive data for the British pound and suggest some hints for further bank’s decisions in case of a no-deal Brexit. The British pound has already bounced from the strong support at the central pivot at 1.2605. For now, GBP/USD has been gaining towards the resistance at 1.2735. The hawkish BOE will make the cable rise higher to the 1.2735 level. Otherwise, if the BOE is dovish or the actual level of the retail sales disappoints the investors, the risks of the fall below the 1.2605 support will increase.

The Australian dollar has been rising after the release of employment change. The indicator increased by 37 thousand employed people (vs. 20 thousand people expected). The aussie has tested the resistance at 0.7133. If the sentiment in the market changes, bulls will manage to break this level. The next resistance is placed at 0.7260. If the USD strengthens, AUD/USD will fall towards the support at 0.7094. The next support lies at 0.7037.

Gold has been moving up amid the weak USD. Today, it has already risen towards the resistance at $1,258, reaching the highs of July 2018. In case of the strong USD, the price for the yellow metal will fall downwards to the support at $1,240.

 

[SebsCubs]

Weekly Cryptonews

More at: http://bit.ly/2PV8aaM

21.12.2018

Stephen Pairs, Bitpay CEO: “I used to say 10 years, but now I think it’s more like 3-5 years until you can go into a restaurant, a retail establishment, and just everybody’s going to expect that that store will be able to accept a blockchain payment.”

Crypto market finally entered the correction phase. The price for Bitcoin rebounded from the $3,222 level on Saturday and continued to go up. On Thursday it managed to stick above the $4,000 level. If bulls continue to pull the price further, it will manage to rise towards the resistance at $4,337. The next resistance is placed at $4,753. In case of the bearish pressure, the price for the oldest cryptocurrency will fall towards the support at $3,660. If we look at the technical side, we can see that the price created lower lows on the daily chart, while MACD formed higher lows. This situation is called convergence and signals reversal to the upside. In addition, Parabolic SAR shows an uptrend for Bitcoin. It is a good sign for the further rise of the grandfather of cryptocurrencies.

In other news:

The cryptomarket has grown by $10 billion in several days. Can you believe it?

The Bitcoin mining’s difficulty declined by 9.5%. It means that miners will get back to work soon.

Regulations:
Two US congressmen suggested to exclude cryptocurrencies from the securities classification and improve the tax treatment for currencies.

French authorities refused to cut taxes for the owners of crypto assets. The current tax is held at 36%.

The British government suggested providing the Financial Conduct Authority (FCA) with additional rights to regulate cryptocurrency assets.

New releases:

Facebook announced the stablecoin’s development for WhatsApp users. At first, it will be launched in India.

The construction of the crypto heaven in Malta continues: RnF Finance Limited submitted a request for blockchain bank’s license.

Just for fun:

The famous trader Mark Dow closed the short position for Bitcoin, which he was holding for the whole year. He opened position when BTC’s price was at the top. Now we know the reason for the bearish market

Bitcoin $4,142

Ethereum $117.47

Litecoin $32.32

DASH: $94.37

 

[SebsCubs]

Top events this week will bring us

More at: http://bit.ly/2EOtFcq

24.12.2018

This week brings us not so many important events in the market due to the central banks’ holidays on December 24 and December 25. However, there are still some opportunities for trading.

Speech by the Bank of Japan Governor Mr. Kuroda (Thu, 6:00 MT (4:00 GMT) time) – The governor of one of the most dovish banks Haruhiko Kuroda is expected to speak on December 27. His speech may support the Japanese yen.

American CB consumer confidence (Thu, 17:00 MT (15:00 GMT) time) - The level of US consumer confidence by the Conference Board is expected to decline to 133. If the actual data is higher, than expected, the USD will be supported.

Hot topics:

The Chinese finance ministry has announced changes to the tariffs since the beginning of next year. China will remove export tariffs on 94 products, including iron ore and levy temporary tariffs on more than 700 items.

US Treasury Secretary Steven Mnuchin will speak with the Federal Reserve on financial markets today.

According to news, Trump has been discussing the possibility to fire the Fed Chair Jerome Powell last few days. He has been warned that firing the head of the Federal Reserve would be a destructive move towards the US economy. Moreover, it is not clear Mr. Trump has a right to fire Mr. Powell.

Leaders of the US Congress failed to reach a deal with the White House on the border wall funding and the government was partially shut down. It is worth to mention, the Democrats will take control of the House on January 3, which means Trump may never get funding for the wall.

OPEC plans to deepen or extend the reductions of the oil production. Its actions may support the oil prices at the beginning of the year.

Have a good week of trading and happy holidays!

 

[SebsCubs]

News to trade on December 26

Check the candles: http://bit.ly/2rTkcbf

26.12.2018

The US dollar has risen on the Wednesday’s morning after the US president Donald Trump expressed confidence in the US Treasury secretary, Federal Reserve and US economy yesterday. As a result, EUR/USD has dropped to the support at 1.1385. If Trump expresses more confidence towards the Fed Chair Jerome Powell, EUR/USD will break that support and fall further to the next one at 1.1283. Otherwise, in case of more uncertainties, the pair will rise towards the resistance at 1.1470.

Gold is trading at last June’s highs. Up to this moment, the price for the yellow metal is testing the resistance at $1,269. If this level is broken, the next resistance is placed at $1,283. If the USD gets stronger, the price for gold will fall towards the support at $1,252.

On Monday, the price for oil tested the fresh lows. The WTI’s price stuck below the $42.86 level. Any updates on the output cut by OPEC will push the price higher above the $42.86 level to the resistance at $47.49. If the bearish pressure continues, the price for WTI will fall further to the next support at $40.73.

As for Brent’s price, it has tested the support at $50.43. Positive news on the production cut will help bulls to pull the price towards the resistance at $55.12. Otherwise, it will break the support at $50.43 and target the next support at $47.40.

Follow us for more news!

 

[SebsCubs]

News to trade on December 27

Check the candles: http://bit.ly/2VdoIPp

27.12.2018

According to the economic calendar, the most important event for today is the release of the CB consumer confidence at 17:00. Analysts anticipate the decline to 133.7 points. If the actual level of the indicator is higher, the USD will be supported.

If we look at the daily chart of EUR/USD, the pair has been trading sideways. If the CB consumer confidence outperforms the expectations, the bearish pressure will increase. In that case, the pair will fall to the support at 1.1283. Otherwise, the pair will have a possibility to break the resistance at 1.1385 and rise upwards to the next resistance at 1.1470.

As for USD/JPY, the pair has been targeting the support at 110.148. If the USD is supported by the today’s release, the pair will rise towards the resistance at 111.84. If the investors are disappointed by the data, the pair will fall to the support at 110.148.

During the Asian session, the release of industrial profits for China disappointed the investors. The indicator declined by 1.8% (vs. the previous +3.6%). AUD/USD has been falling on the news from China towards the support at 0.6971. If the risk on sentiment increases, the pair will rise to the resistance at 0.7087.

As for NZD/USD, the pair has been falling since the beginning of the day. The next support for the kiwi is placed at 0.6648. If the antipodean currency is supported, it will rise to the resistance at 0.6764.

The oil keeps plunging and therefore makes the CAD weaker. USD/CAD has been rising towards the resistance at 1.3678. If the USD moves down, the pair will be pulled down to the support at 1.3525.

Follow us for more news!

 

[SebsCubs]

Bitcoin Retrospective and a Glance into the Future!

2018 looks like a cross-section of the overall bitcoin behavior – unpredicted, volatile, giving big hopes and stealing them within a day. The currency started 2018 with a glorious entrance holding its price at the peak since the creation of cryptocurrencies!

Let’s get learn more about this!
http://bit.ly/2Qb5lCV
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