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[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for October 15-19, 2018​

First, a review of last week’s forecast:

- EUR/USD. The US market sees a continuing correction, which leads to a weaker dollar. On Thursday, October 11, the US stock index S&P500 lost the next 2%, causing investors to get rid of dollar assets. The process was also pushed up by the news that Donald Trump wants to meet with his Chinese counterpart Xi Jingping during the G20 summit. This was taken as a possible weakening of the US position. As a result, having made a throw from south to north, the pair returned to the borders of the mid-term side corridor 1.1525-1.1830, which started in May, and completed the five-day period at 1.1560;

- GBP/USD. The weakening of the dollar could not help but affect this pair. On Friday, October 12, it rose to the height of 1.3255, and the difference between the two-week minimum and maximum exceeded 335 points. True, at the very end of the week, after an impressive growth, there followed a rebound down, and the pair met the end of the session at around 1.3150;

- USD/JPY. The Japanese yen returned to the mid-September values, thus strengthening against the dollar. The formation of this trend was influenced by the negative reaction of major players to the increasing volatility in the world markets and their desire to hide part of their capital in a quiet Japanese harbor. As a result, the final chord of the week sounded in the zone 112.20;

- Cryptocurrencies. One could say that there are no changes on the digital front, because the BTC/USD pair has not gone below the level of mining profitability. Although it made investors nervous, in just a few hours the price of bitcoin fell by $420, dropping to a three-week low of $6.215. The fall of the benchmark cryptocurrency was caused by the collapse of the US stock market and the IMF report, which spoke about the problems of cybersecurity and that digital currencies could become a new cause of the global financial system vulnerability. The absence of the American regulator (SEC) decision on the request for the ETF launch did not add optimism to the market either.
The rest of the top pairs followed the bitcoin down as well. The total capitalization of the crypto market declined by $15 billion. Although bitcoin and such altcoins as l litecoin (LTH/USD), ripple (XRP/USD) and ethereum (ETH/USD), managed to win back some losses by the end of the week, the victory remained for bears.


As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. The next week is literally overflowing with events that may affect the formation of trends in the dollar pairs. These are both macroeconomic statistics from the USA, and data on inflation in the Eurozone, Great Britain and China. The current economic sentiment index will be presented by Germany and the EU, and the minutes of the US Federal Reserve Committee meeting will be published on Wednesday. A serious impact on the market will be rendered by the data on China's GDP, and, of course, the results of the EU Brexit summit.
All these events involve a huge number of scenarios. In such a situation, both oscillators and trend indicators are in complete confusion. But most experts (60%) believe that, returning to the boundaries of the corridor 1.1525-1.1830, the pair will move up for a while, first towards the center, and then towards the upper boundary of this channel. The targets are 1.1650 and 1.1735.
The alternative scenario is supported by the fact that, after updating the highs, the yield on 10-year US bonds went down, indicating a possible strengthening of the dollar. The support levels are 1.1430 and 1.1300;

- GBP/USD. As in the previous case, here again 60% of analysts have given their votes for the upward movement of the pair. In their opinion, the pair should rise to the zone 1.3225-1.3245. The next target is the height of 1.3300. According to the experts, there are still many opportunities for the pound to strengthen, and, first of all, the market is waiting for positive news regarding Brexit.
80% of trend indicators and 70% of oscillators on D1 also vote for the growth of the pair, and a number of them indicate that the pair is oversold.
It should be noted that in the medium term the odds go over to the bears and here it is already 55% of experts, supported by graphical analysis on D1, who expect the pair to fall to the lows of early October in the zone 1.2920;

- USD/JPY. For this pair, the bears win with a small margin (45%). In their opinion, the dollar will continue to fall, and the quotes will approach the level of 111.00. This scenario is supported by 70% of trend indicators and oscillators. However, it is already 20% of oscillators on D1 that signal about the pair being oversold.
35% of analysts vote for lateral movement, and the remaining 20% are for an uptrend with the targets of 113.15, 114.00 and 114.55.
As for the graphical analysis, according to its readings, the pair will first rise to the resistance of 113.15, and then abruptly go down to support 111.70, and then further, trying to reach the local bottom in the 111.00 zone;

- Cryptocurrencies. In its fall on Thursday, October 11, the bitcoin broke through the uptrend support line, which started back on September 8th. If the fall continues, we will be able to see the pair BTC/USD in the $6,100 zone. The next support is at the level of $5,870. However, in the absence of sharply negative news, the most likely, according to analysts, is the return of the bitcoin to the $6,325-6,835 zone. This forecast is based, among other things, on the results of the Chainalysis study, which has shown that the major players very often try to stabilize the rate by buying coins during the time of correction. That is what is happening at the moment.

Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

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[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for October 22-26, 2018​

First, a review of last week’s forecast:

- EUR/USD. As expected, the past week was filled with all sorts of events. These included macroeconomic statistics from the USA, data on inflation in Europe, the UK and China, indices of current economic sentiments in Germany and the EU, the meeting of the US Federal Reserve Committee on Open Market, data on China’s GDP and the EU Brexit summit.
All of these could affect the trends formation. Therefore, our experts considered two main scenarios. The first, "bullish" one, was the growth of the pair, first to the center of the medium-term channel 1.1525-1.1830, and then to its upper border. And the second, the “bearish”, the strengthening of the dollar and its decline to support 1.1430.
So, all these events happened, everything that could have happened, did happen. And what was the result? Well, there was no result. First, the pair implemented half of the “bullish” forecast, having risen to the level of 1.1621, then the “bearish” one, having touched the bottom in the 1.1430 zone, after which it returned to where it had already been two weeks before, as well as in August, in June, and even in May, to the level 1.1513;

- GBP/USD. The forecast given by most analysts and confirmed by 80% of the trend indicators and 70% of the oscillators on D1, has come true by 100%. According to the experts, the pair was supposed to reach the height of 1.3225, which it did on Tuesday, October 16.
In the medium term, the initiative should have passed into the hands (or paws) of the bears, who were supposed to have dropped it to the lows of early October in the 1.2920 zone. All this really happened in the second half of the week, the trend turned south, but so far, the pair was able to achieve only support 1.3010, after which a rebound followed, and it ended the session in 1.3065 zone;

- USD/JPY. Last week, it was not possible to give any clear recommendations on this pair: 45% of the experts voted for its decline, 20% for its growth, and 35% were for the sideways movement. These 35% turned out to be right: the maximum range of fluctuations of the pair did not exceed 110 points. The result was even more modest: having started from the level of 112.20, the pair finished the week at 112.55. Thus, the dollar managed to win back from the yen only 3 5 points in five days;

- Cryptocurrencies. We constantly write that the main factor determining the cryptocurrencies rates is not the economy and not the technical analysis figures, but the news and the rumors. The past week was a clear confirmation of this.
On the morning of Monday, October 15, most bitcoin owners jumped out of their beds, shouting "Hallelujah!" it started finally: the rate of this reference currency on some exchanges soared from the mark of $6,380 to $7,700 in just a couple of hours, that is, more than 20%!
This news was caused by problems with the Tether (USDT) cryptocurrency. Ordinary traders began to urgently sell off the stablecoin, buy up the bitcoin, as a result of which, the BTC/USD rate literally rushed into space.
But the happiness didn't last long. It became clear soon that all this was just a provocation, after which a no less sharp collapse followed, and the rate returned to the usual values of the past month and a half. As a result, the authors of these fake news earned good money, and those who bought into this fake, lost a lot. Those whose Stop Loss or Margin Call worked as a result of the jump are also sad.
We did not know what could happen on Monday October 15. But the forecast that the bitcoin, pushing off from the lowest point of its amplitude, should return to $6,325-6,835, turned out to be absolutely correct: the BTC/USD met Saturday at $6.535.
The bitcoin fate was repeated by the rest of the top cryptocurrencies: many, like, for example, the ripple (XRP/USD) and the ethereum (ETH/USD), ended the week with a slight increase, other, like the litecoin (LTH/USD), finished with the nil result.


As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. Although some analysts talk about five, and even about ten key events of the coming week, in our opinion, it is not worth focusing on the economic calendar in this case, and it will not bring any special surprises for traders. Therefore, it may be worthwhile to pay more attention to longer-term forecasts and technical analysis.
Giving a forecast for the EUR/USD pair, most experts (70%) assess the outlook for the dollar positively. In their opinion, the goals of the pair are still the support levels of 1.1430 and 1.1300. About 70% of trend indicators and oscillators on H4 and more than 80% on D1 agree with this scenario.
The remaining experts, supported by graphical analysis on H4, believe that the pair has just moved one level down, and now the lower limit of the medium-term corridor 1.1525-1.1830 has become a Pivot Point for the new side channel 1.1430-1.1625, in which the pair will move for some time;

- GBP/USD. Negotiations on Brexit reached another deadlock last week. It became clear that it will not be possible to complete the deal between London and Brussels by mid-November. Against this background, more than 90% of the experts, supported by the absolute majority of indicators, expect the British pound to go further down. The closest support is 1.3010, the goal is 1.2900. The nearest resistance is at 1.3100-1.3130, the following is much higher, at 1.3215;

- USD/JPY. If for the pair GBP/USD the experts expect the dollar to strengthen, the picture for the USD/JPY is reversed: in their opinion, the Japanese yen should strengthen. Both 65% of analysts, graphical analysis, and oscillators on D 1 agree with this. The goals are 112.00, 111.65 and 110.70.
An alternative point of view is presented by 35% of analysts and 70% of indicators on H4. The resistance levels 112.75 and 113.50;

- Cryptocurrencies. It is clear that we, similar to most analysts, cannot predict the stuffing of the next fake news. However, there circulate sustained rumors that the Wall Street is preparing a second wave of invasion to the crypto market. One of the largest holding companies Fidelity Investments, Goldman Sachs, as well as other investment banks can become a “shock force”. However, these are all hopes of the blockchain apologists.
At the moment, the market is in a state of consolidation, and therefore we can only repeat the previous forecast with minor adjustments: the movement of the pair BTC/USD in the range $6,325-$6,900. At the same time, major players may still attempt to bring down the rate to the level of mining profitability in the region of $6,100, where they are beginning to actively buy coins.
A provocation similar to the one that happened on October 15, is unlikely in the near future.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/

 

[Stan NordFX]

Broker NordFX Launches Exchange Crypto Trading based on MetaTrader-5​

The international broker company NordFX, in addition to MT4, launched exchange trading in cryptocurrencies based on the MetaTrader-5 platform, early September. This platform, as well as the Crypto account, is intended only for operations with cryptocurrencies, where all clients carry out transactions not with a broker or an exchange, but exclusively with each other. At the same time, the system is completely transparent: thanks to the depth of the market, each limit order is visible to all trade participants.

As before, traders have an opportunity to profit not only from the growth, but also from the fall of cryptocurrencies. As for margin trading, its opportunities have become much wider. If it is $300 that you need to open a position of 1 bitcoin on MetaTrader-4 at the moment, it is just $100 that is enough on MetaTrader-5.

Unlike many crypto exchanges, in NordFX, traders can profit not only on trading, but also on maintaining exchange liquidity. Commission fees for the maker traders are negative. That is, they receive a remuneration of 0.02% of each transaction volume. As for the commission fee charged to the taker traders, it is the lowest in the market and is only 0.09%.

Thanks to the presence of two platforms, MT4 and MT5, traders can apply a wide variety of trading strategies using dozens and hundreds of indicators. There are no restrictions on the use of expert advisers either. And thanks to the low commission and the rapid execution of orders, it has become possible to profit from the slightest market fluctuations.

In total, there are 14 main crypto pairs, cross pairs and 4 crypto-indexes available for trading 24/7/365 without holidays and holidays at the moment. The Crypto account is intended exclusively for exchange crypto trading. For traditional trading, you can use the MT4 platform, where you can also trade major fiat currencies (33 currency pairs), gold and silver, using a leverage of up to 1:1000.

The Crypto trading account for MT5 can be nominated in both US dollars and in bitcoins or Ethereums. Accordingly, depositing and withdrawal to wallets are also possible in USD, BTC and ETH. To get more information about this account and the terms of trading on the MetaTrader-5, please visit the NordFX website.

***
The NordFX computer system has a high degree of protection: there has not been a single case of its hacking during 10 years of its work in financial markets. The company has been honoured with more than 35 professional prizes and awards, among them Most Reliable Broker 2016 and 2017, Best Crypto Broker Asia 2017 and Best broker for Trading Cryptocurrencies 2018.
In total, starting from 2008, clients from more than 185 countries have opened over 1.250.000 accounts in NordFX.


#eurusd, #gbpusd, #usdjpy, # forex, # forex_forecast, #forex signals, #cryptocurrencies, #bitcoin

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[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for October 29 - November 02, 2018​

First, a review of last week’s forecast:

- EUR/USD. When giving the forecast, we assumed that none of the events noted in the economic calendar would be able to considerably shake the market. And we were right: the market reacted rather sluggishly even to the ECB chair Mario Draghi 's statements and to the US GDP data, which turned out to be 0.2% higher than expected.
Our second forecast for the past week was the growth of the dollar, which had been supported by 70% of the experts. And it did strengthen against the euro by about 200 points. The EUR/USD pair was going down neatly, step by step, as if by staircase, for the whole week, until it reached the level of 1.1335. After that, the euro won back 65 points, and the pair completed the week in the 1.1400 zone;

- GBP/USD. Recall that more than 90% of experts, supported by the absolute majority of indicators, had expected a further fall of the British currency. The forecast turned out to be absolutely correct, and the pound lost about 300 points. The pair’s chart practically repeats the EUR/USD chart: a decline accompanied by regular corrections until the very end of the week, when the pair stopped at 1.2825;

- USD/JPY. If when giving the forecasts for the European currencies, the experts had expected the dollar to rise, here their opinion was just the opposite: the yen should have strengthened, albeit slightly, against the backdrop of the US-Chinese trade wars. The immediate targets were named as the levels of 112.00 and 111.65. They were alternately reached by the pair, it groped the bottom at 111.37 and ended the week in the 111.88 zone;

- Cryptocurrencies. As we had predicted, having calmed down after the fake news input on Monday, October 15, the market moved to the consolidation phase. The ripple demonstrated the highest volatility (about 8%). A At the same time, the bitcoin, the litecoin and the ethereum behaved even quieter than many conventional currency pairs and equity. The BTC/USD, for example, stayed in a very narrow corridor of $6,460-6,655, even despite another hacking of another crypto exchange.
We are talking about the attack of the North Korean Lazarus hacker group at the Swiss exchange Trade.io. In general, according to the CipherTrace, the number of crypto thefts in 2018 increased by 3.5 times if compared with the previous year, and the total amount of stolen funds is rapidly approaching a round figure of 1 billion US dollars. Moreover, about 60% of thefts were carried out by North Korean hackers.


As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. The majority of analysts are still waiting for further strengthening of the dollar. Although, this majority is small, 55% vs. 45%.
There will be a lot of various economic events next week, among which we would note two events. The first one is publishing of the Eurozone GDP data for the 3rd quarter on Tuesday, October 30. If it turns out to be no worse or at least the same as in the 2nd quarter, this can play in favor of the euro.
As for the dollar, the data on the labor market (including NFP), which will be released on Friday, November 2, may side with it.
At the time of writing this forecast, the vast majority of trend indicators and oscillators are colored red. However, 10% of the oscillators are already giving signals that the pair is oversold on D1, which is a precursor to a possible strong correction, as a result of which, according to the indications of graphical analysis, the pair can rise to the level of 1.1450 or another 80 points higher, to the level of 1.1530, and then continue to fall.
The goal of the bears is the year's low of 1.1300, which was fixed on August 15. The pair is unlikely to go below this mark before the mid-term elections in the US on November 6 and the Fed meeting on November 8. Although one cannot exclude any attempts to break through this support;

- GBP/USD. The pound has already reached the September lows in its fall, the next goal is the 2018 lowest point, 1.2660. And 70% of experts do not see serious obstacles to achieve it.
The Brexit problems have not disappeared, the country's economy is lame, and the threat of Prime Minister Theresa May’s resignation has been added to all this. As a result, the British pound is quickly losing its attractiveness to investors and is moving from being from a refugee currency into the category of risky assets.
However, 30% of analysts are still hoping for a rebound upwards, amid this bleak picture. This can be facilitated by the fixing by major players of the monthly profit on the dollar, as well as by the positive news following the Bank of England meeting on Thursday, November 01. As a result of the rebound, the pair may return to the zone 1.3045-1.3255. The nearest resistance is 1.2930.
The indicators' readings for the pair almost 100% repeat the readings for the euro/dollar pair: almost all of them are colored red, and only 10% of the oscillators signal that the pound is oversold.
A compromise version is offered by the graphical analysis, according to which the pair may move in the side channel 1.2800-1.2930 for a few days;

- USD/JPY. By Friday, October 26 evening, the pair stopped its fall and, having turned, was able to break through the strong support/resistance level of 111.80. Most experts (70%), supported by graphical analysis, believe that this is a clear signal to the next strengthening of the dollar and the rise of the pair to at least 112.85. The following goals are 113.35 and 114.55.
The remaining 30% of analysts vote for the alternative scenario. They hope that the Bank of Japan meeting, and the speech of its head Haruhiko Kuroda on Wednesday October 31 will be able to support the Japanese currency and help it reach values in the 110.75-111.40 zone;

- Cryptocurrencies. The number of Google searches for the reference cryptocurrency has decreased by 93% in the ten months of this year. The total capitalization of the crypto market has been fluctuating around $200 billion for more than two months, which indicates a decline in investor interest in both the bitcoin and the market as a whole.
The market can only be revived by the appearance of really important news. Otherwise, the BTC/USD pair will continue to move in a narrow range of $6,325-6,660 with a predominance of the bearish sentiment. The next resistance is 6,780, and the support, as before, is in the mining profitability zone of $6,100.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/

 

[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for November 05-09, 2018​

First, a review of last week’s forecast:

- EUR/USD. Recall that most experts (55% vs. 45%) voted for further strengthening of the dollar, calling the year's low of 1.1300 recorded on August 15 as the goal. This forecast came completely true, and the pair touched the bottom at this point on the last day of October, which was also facilitated by the optimism of the US President regarding the negotiations with China. True, in contrast to D. Trump, Larry Fink, head of one of the largest BlackRock investment funds, said he expected a full-scale trade war with China in the coming weeks.
The joy of the bulls was short-lived. The market met November with growing thirst for risky investments, which was supplemented by news of progress in the Brexit negotiations. As a result, the pair flew up to the height of 1.1455, after which everyone froze in anticipation of data on the American labor market, which, as we expected, somewhat strengthened the dollar. Thus, the number of new jobs created outside the agricultural sector (NFP) more than doubled (from 118K to 250K), which allowed the dollar to win back about 65 points. As a result, the pair completed the week in the same place where it began, in the zone 1.1390;

- GBP/USD. As the experts expected, the British currency fell in the first half of the week, trying to reach the 2018 low, 1.2660. However, n the November start was turning for this pair as well. On the background of the news on possible signing of an agreement with the EU on Brexit soon, the pound showed an impressive growth, soaring by 340 points. The pair finished the week at 1.2960, in the zone which can be conditionally defined as the Pivot Point of the last three months;

- USD/JPY. The forecast for this pair was also absolutely accurate. Recall that the majority of experts (70%), supported by graphical analysis, voted for the strengthening of the dollar and the growth of the pair. The heights of 112.85 and 113.35 were named as targets. And It all happened. On Tuesday, the pair reached the resistance of 112.85, broke through it and fixed the weekly high at 113.38. After that, there was a retreat to the level of 112.55, and the last chord of the week sounded at the level of 113.20;

- Cryptocurrencies. Our forecast said that in the absence of really important news, the BTC/USD will continue to move in the narrow range of $6,325-6,660 with a predominance of the bearish sentiment. The next support was around $6,100. This scenario was realized with a small tolerance: pushing off from the resistance of 6.550, the pair went to the lower border of the lateral channel 6.320. The bears managed to break through it in the middle of the week, and the bitcoin dropped to the horizon of 6,240, but quickly turned around and climbed to the center of the side channel in the 6.425 zone. This confirmed the assumption that, knocking the rate down to the mining profitability level, the major players are beginning to actively buy coins, as a result of which the quotes are quickly returning to the initial level.
The bitcoin’s fate was repeated by most of the top altcoins: many coins, such as Ethereum (ETH/USD) and Litecoin (LTH/USD), finished the week with a slight, barely noticeable, decrease, while others, like Ripple (XRP/USD), ended the week with a zero result.


As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. We await two major events that can dramatically affect the fate of all dollar pairs this week. These are the mid-term elections in the USA on November 6 and the Fed's decision on the interest rate on November 8, followed, as usual, by the comment of the head of the Federal Reserve. One can also add to this the falling oil prices, quite unexpected statements by the US President and optimism about the agreement on British withdrawal from the EU, which has a positive effect on quotes not only for the pound, but also for the euro.
On this motley background, most experts (60%), supported by graphical analysis, sided with the European currency, waiting for the pair to rise to the zone 1.1480-1.1525. The nearest resistance is 1.1445.
The opposite point of view is supported by 40% of analysts and the overwhelming number of oscillators and trend indicators on D1. The bears' supporters talk about weak economic indicators of the Eurozone, problems of Italy and expect that the pair will again test the support of 1.1300, and, in case of its breakthrough, will sink to the horizon of 1.1210. The next target is at 1.1100;

- GBP/USD. In addition to advancing Brexit negotiations, last week's pound growth was supported by the statement from Bank of England CEO Mark Carney that the regulator is ready to raise the interest rate in any event, including even the “complicated Brexit”. This is about raising the rate to 1.5% within three years (previously 1% was mentioned).
However, the positive effect of Carney’s promises was short-lived, and 50% of experts expect the British currency to weaken already this week. In their opinion, the pair should strive again to the low of October 30 in the zone of 1.2700, and then even lower, to the minimum value of August, 1.2660.
An alternative point of view is expressed by 40% of experts. Supported by graphical analysis and almost 90% of oscillators and trend indicators on H4, they have voted for ongoing growth of the pair at least to the height of 1.3100. The next target is 1.3220.
Finally, the remaining 10% of the experts, together with the indicators on D1, have taken a neutral position, waiting for the sideways movement of the pair, basing on the support of 1.2820;

- USD/JPY. On Monday, November 5, a meeting of the monetary policy committee of the Bank of Japan and a speech by the head of Bank Kuroda will take place. However, {1the market doesn't expect any surprises from either of these events. The bulls have a slight advantage (55% vs. 45%) among experts. The overwhelming majority of oscillators and trend indicators on both H4 and D1 are also colored green, although 10% of oscillators on D1 are already giving signals that the pair is overbought. The support levels are 112.55, 111.80 and 110.75, the resistance levels are 114.05 114.55;

- Cryptocurrencies. Despite the fact that the price of the bitcoin and of other top coins has been fluctuating in a fairly narrow range for a long time, it’s too early to say that this market has died. And although the total capitalization is still close to $200 billion, the daily trading volume remains quite impressive, about $4.2 billion. And the number of transactions (250 thousand per day) shows that traders are in no hurry to part with their digital assets.
Of course, there has been no influx of new large investors for a long time, but in the future, we can expect a growth of the quotes. It is expected that such large companies as ICE (the parent company of the NYSE) and Fidelity Investment will launch their trade crypto platforms by the end of the year, which will undoubtedly contribute to an increase in the investment flow. The specialists of such a respected bank as Morgan Stanley are rather optimistic about the future of the crypto market, they have published a relevant research.
In the meantime, on a relatively neutral news background, the forecast remains almost unchanged: the BTC/USD will continue to move in a narrow range of $6,200-6,660 with a predominance of the bearish sentiment. The next resistance is $6,780, the next support is around $6,100.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/

 

[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for November 12-16, 2018​

First, a review of last week’s forecast:

- EUR/USD. Recall that, when giving the last week's forecast, 60% of experts had expected the euro to grow to the zone 1.1480-1.1525, and turned out to be 100% right: by Wednesday November 7, the pair had risen to the height of 1.1500.
The remaining 40% of analysts had suggested that the pair would still go down and re-test support for 1.1300 against the background of weak economic indicators of the Eurozone and problems with the Italian budget. This script has also been implemented. On Thursday, November 8, the euro began to decline after the report of the European Commission, which lowered its GDP forecast for 2019 from 2.0% to 1.9%. A further fall in the euro and a strengthening of the dollar was facilitated by a press release from the US Federal Reserve, which showed that the US currency was expecting another increase in the interest rate until the end of 2018.
As a result, the dollar has won back 175 points from the euro, groping for a local bottom at the level of 1.1325, followed by a slight rebound, and as a result, the pair froze at 1.1335;

- GBP/USD. The situation with the British pound was similar to the euro last week. Supported by graphical analysis and almost 90% of oscillators and trend indicators on H4, 40% of experts had voted for the continuation of the pair’s growth to 1.3100-1.3220, and on November 7, the pair reached the height of 1.3173. This was followed by a reversal, and, as the bears' supporters had proposed, the pair rushed down to reach the support at the level of 1.2955 on Friday, pushed by the US Federal Reserve comments. It met the end of the weekly session in the zone 1.2970;

- USD/JPY. The dollar strengthened towards the Japanese currency as well. However, the pair did not manage to overcome the key resistance level of 1.1400, and finally finished the week at 113.80, demonstrating a weekly gain of only 60 points;

- Cryptocurrencies. It turns out that the mid-term elections held in the US can be viewed not only as a struggle of Republicans and Democrats, but also as a fight between supporters and opponents of cryptocurrencies. And, judging by the comments, the blockchain supporters won in a number of states. The positive background is complemented by the information that the major American digital companies are actively and successfully creating lobbies to promote their interests in the Senate, Congress and the US government.
As for the negative news one can mention the appeal of the South Korean Bar Association to the government to regulate the crypto-market, as well as accusations from the US Securities Commission (SEC) against the founder of the EtherDelta cryptocurrency exchange Zachary Coburn in illegal activities.
As for the top virtual currencies, as we predicted, most of them reacted calmly to all these pieces of news. Thus, the bitcoin has not only stayed within the specified range of $6,200-6,660, but also narrowed its scope to $6,320-6,610. The altcoins, following the reference cryptocurrency, showed a moderate increase over the week: the Ethereum (ETH/USD) went up 4%, the Litecoin (LTH/USD) 0.5%, the Ripple (XRP/USD) - 8%. The most impressive dynamics was demonstrated by the BCH/USD: the Bitcoin Cash quotes rose from $425 to $570 from the beginning of the month to the evening of November 9, that is, by 34%.


As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. According to 70% of experts, the Fed's statement will still have some time to influence the strengthening of the dollar. That is why they believe that the pair will not only be able to drop to the year's low of 1.1300, but, in case the economic statistics of the Eurozone are weak and there is positive news from the USA, it will break through this support and reach values in the area of 1.1200-1.1250. Both graphical analysis on H4, and the vast majority of oscillators as well as trend indicators agree with this forecast. However, about 20% of the oscillators on H4 already give signals the pair is oversold, which may be a precursor for a close correction.
30% of analysts also expect a trend reversal up. In their opinion, the dollar is now overvalued, and we can expect the pair to return to the zone 1.1435-1.1525.
This week one should, first of all, pay attention to the data on GDP in the Eurozone and on the inflation in the United States, which will be released on Wednesday, November 14 and Thursday, November 15, and on inflation in the Eurozone on Friday November 16;

- GBP/USD. Important macroeconomic data is expected next week from the UK. The data on the labor market will be made public on Tuesday, November 13, and the next day data on consumer price inflation will be published, which, according to forecasts, may increase by 0.1%. And the higher its performance, the more likely it is that the interest rate on the British pound will rise.
However, at the moment the majority of analysts (65%), along with graphical analysis on H4 and 90% of indicators, are pessimistic, predicting the “Briton” a further fall. The nearest target is 1.2850, the next one is 1.2810.
An alternative point of view is represented by 40% of experts and 10% of oscillators, signaling the pair is oversold. The targets for growth are 1.3150, 1.3175 and 1.3235. The nearest resistance is 1.3040;

- USD/JPY. The strong dollar has raised the pair to the horizon of 114.00. The expectations of a rise in interest rates by the Bank of Japan are almost close to zero, so 55% of experts, as well as about 60% of indicators on H4 and D1, support bullish sentiment, expecting the pair to continue to grow to resistance levels of 114.55 and 115.40.
At the same time, there is a divergence between the indications of a number of oscillators and the quotes of the pair. In addition, we must bear in mind that the height of 114.55 is the high of 2018, which can be a serious barrier to the further growth of the pair. Therefore, 45% of analysts , together with 40% of indicators and graphical analysis on H4, expect that the pair will be able to return to the support of 113.10 in the near future, and then to the level of 111.75. And as for the medium-term forecast, more than 60% of experts already side with the bears;

- Cryptocurrencies. Quotes of these pairs are still largely determined by the news. But as mentioned above, cryptocurrencies have already developed a fairly strong immunity against the news. Therefore, we should not expect strong jumps in the bitcoin market value yet.
The actions of a number of regulators, such as the SEC, will deter the growth. The CoinDesk website has reported that the fines imposed on Zachary Coburn are only the first signs, further sanctions against a number of crypto exchanges may follow. The vice-premier of Thailand is also thinking of bringing order to the virtual market, as reported by the Bangkok Post.
On the other hand, no major players are interested in the collapse of the main cryptocurrency, and the lower limit of volatility is still determined by the mining profitability level. When it is reached, the active buying up of coins begins, and the quotes are going up.
Therefore, the forecast remains almost unchanged for the second month: the BTC/USD will continue to move in a narrow range of $6,200-6,660. The next resistance is $6,780, the next support is around $6,100.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

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[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for November 19-23, 2018​

First, a review of last week’s forecast:

- EUR/USD. The basic forecast for this pair said that it would not only be able to fall to the year's low at the level of 1.1300 but would also probably break through this support and reach values in the area of 1.1200-1.1250. That was exactly what happened: the pair recorded the week's low on Monday, November 12, dropping to the level of 1.1215.
Then the market started to be ruled by Brexit. The news that the terms for the Great Britain exit of from the EU were finally agreed, pushed the European currency up, and by the end of Friday the pair had risen 200 points, ending the week session at 1.1415;

- GBP/USD. The British currency first began to grow on the positive news about Brexit, and even reached a height of 1.3070 on Wednesday. But then came the news of the resignation of a number of key ministers of the British government, who disagreed with the EU exit terms. The situation was aggravated by the rumors of a possible impeachment threatening the country's prime-minister, Teresa May. As a result, the pound sterling literally fell down in a matter of hours dropping to the level of 1.2722. Then the situation calmed down a bit, and the pair rose to the zone of 1.2830, showing a week's volatility of 350 points;

- USD/JPY. The divergence between the readings of the oscillators and the pair's quotes indicated the possibility of a downward trend. This scenario had also been supported by 45% of analysts, together with 40% of indicators and graphical analysis on H4. As a result, when there were only 35 points left to the 2018 high, the pair turned south, easily overcame the support at 113.10 and finished the five-day period at 112.82;

- Cryptocurrencies. What can one say? The market has collapsed. And it has done so to an extent that no one expected. Starting from Wednesday, it lost about 12% in capitalization, falling to $185 billion. We had called $6,100 as the lower limit of Bitcoin's fall last week. In reality, things turned out to be much worse: $5,430.
There is no unity among the experts when determining the cause of what had happened. The most popular version is the destabilizing effect of a hard fork (separation) of BCH (Bitcoin Cash) to two new coins, which frightened investors for further splitting the market. Although there is another version, no less viable, it is the massive triggering of stop losses when Bitcoin passed the $6,000-6,100 zone. Another reason is the sale off of US technology companies shares, which spread to the crypto market.
Ethereum (the ETH/USD pair) failed to break through the support of $170, followed by a rebound to the level of $185. Ripple (XRP/USD) briefly approached the horizon of 0.4140, and litecoin (LTH/USD) came close to 40.00, after which the market calmed down a bit, and these pairs played back about 8%.


As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. The pair reached the upper limit of the downward channel, which began almost two months ago, on September 24 this year. And despite the fact that both trend indicators and oscillators on D1 took a neutral position, about 70% of experts predict the pair to bounce from this border and to further go down. The nearest support is at 1.1300, the next one is 85 points lower, at the level of 2018 low, 1.1215.
An alternative scenario assumes the rise of the pair to the level 1.1450-1.1550. However, this is likely to be a temporary correction, after which the dollar will continue to grow and the pair will fall. The market is almost certain that in December the US Federal Reserve will raise the interest rate, after which there will be several more increases in 2019, which is a decisive factor for the further strengthening of the US currency;

- GBP/USD. The future of this pair depends on the situation with Brexit. And the forecasts for the British currency are not the most comforting, despite the fact that the pound managed to play back its losses a little at the end of last week. A meeting of EU leaders on an agreement with the UK will be convened on November 25. But it is obvious that this week the pound will continue to be under pressure due to disagreements in the British government and to an unclear reaction of the British Parliament to what is happening. Taking these factors into consideration, 70% of analysts expect the pair to fall. The nearest support is in the 1.2700 zone, the next one is the 2018 low. at the level of 1.2660.
As for the further movement of the pair, according to 55% of experts, it will move in the side channel in the range of 1.2660-1.3200 with Pivot Point in the area of 1.2950 until the end of the year;

- USD/JPY. Concerning the future of this pair, the opinions of experts, as has often been the case lately, have split almost equally: 45% voted for the pair’s growth, 45% - for its fall, and 10% took a neutral position.
As for the indicators, the vast majority is colored red. However, almost 15% of the oscillators signal that the pair is oversold, which may indicate its upward correction.
As for the graphical analysis, it points to the growth to the level of 113.10 and the subsequent fall to the level of 111.85 on H4, and on D1 - a lateral movement in the channel 112.65-114.20;

- Cryptocurrencies. At the moment there are two versions of the forecast: a neutral one and ... a very bad one.
The neutral forecast is most likely, when the market takes time out, trying to comprehend what happened last week and what consequences this may have. In this case, the top pairs will fluctuate in the range between the lows of the previous week and the highs of Friday, November 16.
The worst (from the bulls' point of view) scenario assumes that Bitcoin will move to the level of $5,000, after the breakdown of which, most likely, massive panic sales will begin, not only of the reference cryptocurrency, but also of most altcoins. In this case, it is possible that after some time we will see the bitcoin quotes around the support of $3,000.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/

 

[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for November 26-30, 2018​

First, a review of last week’s forecast:

- EUR/USD. If you look at the chart of the pair, it is clear that by the evening of Friday, November 23, it returned to the values of Friday morning, November 16. That is, the result of the week is close to zero, and the victory for the most accurate forecast can be awarded to trend indicators and oscillators on D1, which had taken a neutral position.
As for the experts, a third of them had predicted the continuation of the pair’s correction up to the level of 1.1450-1.1550 (actual maximum of the week is 1.1470), with the subsequent return of the dollar to growth. This actually did happen, as a result, the pair ended the week at 1.1330;

- GBP/USD. The result of last week for this pair is similar to the result of EUR/USD, that is, close to zero. On Thursday, when it became known that the European Commission had approved the political declaration on Brexit, it seemed that the pound had a chance to reverse the negative situation. It soared 150 points to the height of 1.2925. But the joy of the British currency holders was short-lived, and the pair met the end of the five-day period in the 1.2810 zone;

- USD/JPY. Regarding the future of this pair, the opinions of experts had been divided almost equally: 45% had voted for the pair to fall, 45% had voted for its growth, and 10% had taken a neutral position. And they all turned out to be right: the pair was falling in the first half of the week, then it was growing, and it showed a zero result by the end of the session, returning to Pivot Point in the 112.90 zone. As for the support/resistance levels, graphical analysis was most accurate here: it marked the upper limit of the channel at 113.10 on H4 (the pair rose to 113.14), and a fall to 112.65 on D1 (the weekly minimum was fixed at 112.30);

- As for cryptocurrencies, there were two versions of the forecast, a neutral one and ... a very bad one. Naturally, the second one came true. Panic moods from the hard forks (division) of BCH (Bitcoin Cash) to two new coins continued to put pressure on the market. As a result, the bitcoin flew further down, reaching the values of September last year in the $4,210-4,250 zone, and pulled other cryptocurrencies with it: the TOP-5 index lost more than 500 points, or about 25% during the week.


As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. The most important event that can seriously affect the quotes of both the euro, and the British pound, will be the extraordinary Summit of European leaders on Brexit, which will be held November 25-26. In case its results are positive, the pair may return to November highs of 1.1470 and 1.1500. However, less than half of the experts agree with this scenario, 40%.
As for the remaining 60%, they continue to insist the dollar will strengthen. On Wednesday, November 28, the market is expecting data on the US GDP for the 3rd quarter, and if they turn out to be better than in the 2nd quarter, this will give the American currency a strong support. You should also pay attention to the minutes of the US Federal Reserve meeting on Thursday, November 29, although no special surprises are expected from it.
The targets for the bears are 1.1300 and the 2018 low of 1.1215, in the case of a breakdown of which the path to support 1.1120 is opened.
If we talk about indicators, about 15% of the oscillators on H4 indicate that the pair is oversold, which may portend a short-term correction;

- GBP/USD. Almost 100% of the indicators are painted red. But future trends are not determined by them at all. The decisions of the EU Brexit Summit are, of course, very important for the pound. But it faces an even more serious test: the deal on the terms for the British exit from the European Union has yet to be approved by the British Parliament. And there are many chances that the parliamentarians will vote against the deal. In this case, a second vote will be required, which may be scheduled for February, and up to this point investors will be wary of the pound.
In the meantime, expert opinions are equally divided: half of them are for the growth of the pair, half are for its fall. The nearest support levels are 1.2720 1.2695, 1.2660, the resistance levels are 1.2885, 1.2925 and 1.3025;

- USD/JPY. The Japanese currency often goes counter-trend to its European counterparts: when the euro and the pound fall against the dollar, the yen rises. It is this perspective that is drawn by analysts for the next week. 55% of them, supported by 90% of oscillators and 70% of trend indicators, vote for the fall of the pair first to support 112.60, and then 30 points lower. It is possible that the pair will be able to successfully test the level of 112.00.
The alternative scenario is supported by 45% of experts, graphical analysis on D1 and 10% of oscillators, signaling the pair is oversold. The targets of the bulls are zones 113.15-113.40 and 114.20-114.55.

- Cryptocurrencies. Most likely, the negative trend in the market will continue, and the bitcoin will try to break through the level of $4,000. The next target is 1,000 points lower. Another vulnerability was found in smart contracts based on ethereum, and the ETH/USD pair may fall to the most important psychological level of $100. The target for the litecoin (LTC/USD) is to consolidate below $30, and for the ripple (XRP/USD) - below $0.40.
As for the good news for crypto bulls, there is divergence between the quotes of Bitcoin and the readings of many oscillators, which indicates a possible upward correction. However, according to most experts, this correction will be short-term.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/

 

[Stan NordFX]

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More information about the investment offers of NordFX can be found at https://nordfx.com/funds/ or by contacting the company's Support Service.

 

[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for December 03-07, 2018​

First, a review of last week’s forecast:

- EUR/USD. The first good news that pushed the euro up, as expected, was the extraordinary Summit of European leaders on Brexit. Its positive results allowed the European currency to rise to the level of 1.1383 on Monday, November 26, after which the power over the market was seized by the dollar once again.
By Wednesday, the pair began to approach the 2018 low and fell to the level of 1.1255, but then the head of the Federal Reserve Jerome Powell, speaking at the New York Economic Club, suddenly declared that the interest rates on the dollar were only slightly below the neutral level!
Back in October, the same person had said that the rate was far enough from this level, and a month later, it was almost at the “zero” level, at which the economy neither accelerates nor slows down. Such a speech alerted the market a little, as a result of which the Euro-bulls were able to push the pair up again: this time to the height of 1.1400. But then not so much positive statistics on the Eurozone economy were published, and the pair went down again. As a result, the total of the week can be characterized by the short word “zero”: the pair completed it almost in the same place where it started;

- GBP/USD. The intra weekly trends of this pair are similar to those demonstrated by the EUR/USD pair. But the distrust in the pound, caused by the fears that the British Parliament may not approve the agreement on Brexit, played a role. As a result, the finish of the pair was slightly lower than the start level and, if at the beginning of the week the pound was at around 1.2810, it finished the week at the level of 1.2750;

- USD/JPY. Regarding the future of this pair, the opinions of experts were almost equally divided. A small margin (55%) was on the side of the bears, but when summing up the week it becomes obvious that the bulls won a victory, albeit a very small one. The pair was able to rise by about 60 points during the week, having frozen at around 113.50;

- Cryptocurrencies. The forecast for this market was negative, and it was 100% justified: over 80% of all coins, followed the bitcoin, having gone into a deep minus. The intrigue was only in how low the reference cryptocurrency would be able to fall together with other coins during that week.
Our forecast said that the BTC/USD pair was likely to break through the level of $4,000. And it indeed dropped to $3,660, returning to $4,000 on Friday. Ethereum (ETH/USD) was seen at the horizon $102.6. The litecoin (LTC/USD) fell to $24.2 at some exchanges, and the ripple (XRP/USD) below $0.33.


As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. If you look at the graph, it is clear that in November the pair drew a “pennant” striving to consolidate around 1.1315-1.1350. As for its further movement, most experts (60%) and more than 90% of the indicators on H4 on D1 expect further strengthening of the dollar and new testing of the 2018 low, 1.1215.
In addition to the results of the G20 summit, the next statements of the Federal Reserve Head J. Powell on Wednesday, December 05 and Friday, December 7, as well as the publication of regular data on the US labor market at the very end of the week may affect the formation of trends. According to forecasts, NFP may fall by 15-20% compared to the previous value, which may somewhat weaken the US currency. And here it should be noted that in the monthly forecast, 60% of analysts are already siding with the bulls, waiting for the pair to return to the zone 1.1400-1.1500;

- GBP/USD. The pair is near the year lows zone at the moment, 1.2670-1.2695, and graphical analysis on H4, supported by more than 90% of trend indicators and oscillators, predicts their breakdown and a quick fall to the 1.2600-1.2620 zone.
But the experts' opinion is not at all as clear: it is only 55% who side with the bears. And 45% are confident that the pair will not be able to renew the lows, and it will go north towards the height of 1.2900;

- USD/JPY. Although we would like to give a clear forecast, there are no pronounced preferences among experts for the Japanese currency either: exactly half of them have voted for the pair's growth, and exactly half are for its fall. Everyone is waiting for the results of the G20, and here the forecasts are also quite ambiguous.
The indicators also behave accordingly, although most of them are colored green. As for the graphical analysis, it envisages first the growth of the pair to the level of 114.20-114.40, and then its fall, first to the support of 113.00, and then to 111.75.
In a situation of such uncertainty, it is always useful to refer to a longer-term forecast. And here, 65% of analysts, following the graphical analysis, expect the yen to strengthen and the pair to fall to 112.00;

- Cryptocurrencies. The situation with forecasts for cryptocurrencies is complicated by the fact that it is almost impossible to estimate their real value. They are so virtual that estimates can be differ tens, hundreds or even thousands of times. It is not particularly worth it to focus on the miners' costs either, as they do not do any useful work and do not produce any material values or benefits. They only spend their time, money and electricity.
Experts' forecasts look as follows at the moment: 60% expect the bitcoin to continue falling to $3,000, 30% hope that it will stay in the $4,000-4,500 range, and 10% of super optimists convince the rest that these are all the machinations of major players who, having bought cheap coins, will soon begin to push the market up.
However, optimism is quickly melting, if you listen to the words of the Nvidia founder and CEO Jensen Huan. The head of the largest manufacturer of processors for mining has admitted that they had misjudged the prospects of the crypto market, and now his company is betting on the GPU for computing using artificial intelligence and use in unmanned vehicles.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/

 

[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for December 10-14, 2018​

First, a review of last week’s forecast:

- EUR/USD. Our forecast for relatively weak labor market data turned out to be 100% correct. ADP and ISM in the service sector were not pleasing either, and one of the key indicators, NonFarm Payrolls, fell from 237K to 155K, that is, by as much as 35%.
The forecast regarding consolidation of the pair in the area of 1.1350 turned out to be correct as well: last week it switched to lateral movement in channel 1.1310-1.1415 with Pivot Point in the area 1.1350-1.1360.
The difference between the weekly high and low barely exceeded 100 points, although it seemed that there were quite a lot of important events during these days. These are the above-mentioned statistics on the US labor market, supplemented by a decrease in the country's GDP, and the OPEC meeting and Iran’s petroleum statement, and the arrest by the US law enforcement agencies of the financial director of Huawei Meng Wanzhou... But the pair reacted quite calmly to all this. The reason for this seems to be only one: the approach of Christmas, the time when the sharks of the market sum up their annual results and no longer want to make any sudden movements;

- GBP/USD. This pair also behaved quite calmly, although with a slightly higher volatility: the swing of oscillations was about 180 points. The expected fall to 1.2600-1.2620 did not take place, and the pair, barely reaching 1.2655, turned around and left for Pivot Point of the week, ending the five-day period at 1.2725;

- USD/JPY. Last week, expert opinions were equally divided: one half voted for the pair’s growth, the second one was for its fall. In this situation, we advised to move from weekly to longer-term forecast, and we were right. Here, the picture was already different: most analysts (65%), supported by graphical analysis, expected the yen to strengthen and the pair to decline to the 112.00 zone. This was what happened: having won back the losses of the previous two weeks, it reached the level of 112.20. The pair met the end of the trading session at the level of 112. 70, that is, in the same place where it was already trading in the middle of November;

- Cryptocurrencies. There’s really nothing to say: the graphs vividly confirm that the worst predictions are coming true. 60% of experts predicted a further drop in Bitcoin, and on Friday evening, it recorded another annual low at around $3,275, having lost another 16% in seven days. Following the “reference” (now in quotes) cryptocurrency, the altcoins fell further down. Ethereum (ETH/USD) fell by 24% during the week, Litecoin (LTC/USD) - by 26%, and Ripple (XRP / USD) - by 18%.
According to Ernst & Young, 86% of all coins are now trading significantly lower than the originally declared value, and the crypto market capitalization fell to $113 billion, having lost exactly 700 billion in 11 months (86%).


As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. As has already been mentioned, it is time for the market to record annual profits. Or losses (it depends). However, the coming week is expected to see a number of macroeconomic data, which may still affect the change in quotations.
Thus, on Wednesday, December 12, there will be data on inflation in the United States, and the higher it turns out, the higher the likelihood of interest rate increases, the better the dollar will feel. In the meantime, judging by the futures, players and investors do not particularly expect that the Fed will raise rates in March next year.
On Thursday, December 13, a decision is expected on the interest rate in the Eurozone. Most likely, nothing will change, and the rate will remain at zero, so more attention should be paid to the subsequent press conference of the ECB President Mario Draghi.
On Friday, we expect statistics on retail sales in the United States. And, of course, the market will closely watch the reports from the theater of operations of the American-Chinese trade war throughout the whole week. Another aggravation in this conflict was caused by the arrest of Huawei's CFO, and everyone is waiting to see what President Trump does in this situation.
In the meantime, the overwhelming majority of experts and indicators have taken a neutral position. The bulls have a very small advantage, calling the area 1.1500-1.1550 as their target. Supports are at levels 1.1265 and 1.1215. The basic forecast almost repeats the scenario of the past week: the movement in channel 1.1310-1.1415;

- GBP/USD. Here, analysts' forecast is similar to what has been given for EUR/USD: the advantage of the bulls is only 5%. But almost 90% of trend indicators and 70% of oscillators are colored red. The formation of trends may be affected by the data on the UK GDP, which will be released on Monday December 10, and the data on average wages on Tuesday December 11. But of interest is the vote on Brexit in the British Parliament, which will take place at the same time, on Tuesday. Recall that, according to forecasts, the parliamentarians may not approve the Agreement on the terms for leaving the EU, and then a second vote will be scheduled for February 2019, which will play against the pound. The support levels are 1.2660, 1.2540 and 1.2500, the resistance levels are 1.2810, 1.2850, 1.29250;

- USD/JPY. On Monday, December 10, statistics on Japan’s GDP will be published and, strictly speaking, these are the only data from the country of the Rising Sun that may affect the pair’s quotes. Investors pay much more attention to the trade war between China and the United States and the use of the yen as a safe haven currency. That is why most experts (65%), with the support of trend indicators, vote for the strengthening of the Japanese currency and the reduction of the pair to at least 112.20 support. The next support is on horizon 111.75, then 110.85. As for the resistances, they are in the zones 113.20, 113.65 and 114.00.
Graphical analysis also indicates a fall of the pair. However, on H4 it assumes that at first it will rise to the height of 113.10, only then it will turn to the south.

- Cryptocurrencies. The states increasingly clamp the market which had initially been decentralized, in the grip of regulation, which creates an additional negative news background. This is what the crypto community is expecting soon:
In South Korea, a tax on income from operations with cryptocurrency is planned to be introduced; in Japan, in addition to the state registration of all ICOs, crypto exchanges will be obliged, upon request of the tax authorities, to disclose information on customer incomes; in Singapore, all ICO market participants must now obtain a license and take measures to combat money laundering; Switzerland is also planning a number of legislative amendments. And so on.
It is highly likely that, recognizing the benefits and possibilities of blockchain, many states intend to put an end to the current crypto freedom and begin to issue their own digital money (which Honduras and Iran have already taken up). But this is not a one-day deal.
In the meantime, analysts' opinions are distributed as follows: 65% expect a further fall to $2,500-3,000, 25% have voted for the side trend along the $3,000 horizon and 10%, as before, remain optimistic, expecting Bitcoin to return to the levels of $4,000-5,000 in the medium term.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/

 

[Stan NordFX]

At Traders Fair-2018, NordFX Presents the Latest Developments for Working in Forex, Crypto and Stock Markets​

At the end of November 2018, a specialized Forex exhibition organized by FinExpo was held in the largest city of Vietnam, Ho Chi Minh City. It gathered more than a thousand guests and participants. NordFX took part in this large-scale event, presenting at its booth a wide range of products for both traders and investors.

In addition to traditional services for trading on the Forex market, NordFX specialists presented the latest developments for professional exchange trading in cryptocurrencies and crypto indexes using the MetaTrader 4 and 5 platforms, as well as ample opportunities to invest in the company's specialized Investment Funds.
Three of these funds include shares of world industry leaders, including Amazon, Nike, Boeing, Coca-Cola, McDonald's, Apple, Microsoft, Intel, MasterCard, Visa, Google, Facebook and many others. In addition to highest reliability and growth prospects, these funds have a low entry threshold, which allows NordFX clients, having even small amounts, to take full advantage of portfolio investments and professional asset management.

In order to familiarize Vietnamese traders with the company's products in more detail, a seminar was held after the expo, where a lot of attention was paid to the RAMM – service, a unique trading signal copying platform that allows you to automatically control the level of acceptable risk.

In addition to these events, a number of meetings were held in Ho Chi Minh City with current and potential IB-partners of NordFX, whose participants were able to get acquainted with the benefits of a two-tier affiliate program, as well as discuss ways to further develop the company.

#nordfx #cryptocurrency #ramm #exchange #broker #funds

https://nordfx.com/

 

[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for December 17-21, 2018​

First, a review of last week’s forecast:

- EUR/USD. If the basic forecast for the past week had assumed a lateral movement in channel 1.1310-1.1415, the meeting of the European Central Bank and the subsequent conference of the ECB President Mario Draghi were called as the basic event. The ECB made a long-promised decision on January 1, 2019 to complete the quantitative easing program, and Draghi demotivated investors with a statement of increased risks. Based on this, the forecasts of the region’s economic growth for 2018-19 were lowered, to which the euro responded with a fall, but still remained within the limits of the stated channel.
The key support 1.1300 was broken already on Friday, December 14, when the Bundesbank lowered its forecasts for Germany's GDP and inflation. The regulator now expects that the growth of the economy in the outgoing year will not be 2.0%, as previously assumed, but only 1.5%. As for the 2019, the forecast here was lowered from 1.9% to 1.6%. The gloomy business performance indicators finally disappointed the market, and the pair went down sharply, reaching the local bottom at 1.1270. After that, a small rebound followed, returning it to the level of 1.1300, which turned from support to resistance;

- GBP/USD. Pound is still ruled by Brexit. As expected, the vote in the British Parliament on the terms of a divorce from the EU didn't have a result. It was just canceled. As a result, by Wednesday, December 12, the pair dropped to the level of 1.2474, having lost 285 points compared to the beginning of the week. As for the end of the five-day week, it found itself near the mark of 1.25 85;

- USD/JPY. Last week, 45% of experts voted for the pair's growth, and 113.20, 113.65 and 114.00 were indicated as resistance levels. The truth, as often happens, was in the middle, and the weekly high was noted at the height of 113.70. The final chord of the week sounded at the level of 113.35;

- Cryptocurrencies. The news background in recent days has been quite blurred, and positive news alternated with negative news. Among the events that are encouraging are the possible release of the Japanese crypto exchange Coincheck to the US market, the record for Bitcoin analogue ETF demand in Switzerland, and the news that the embedded Ethereum wallet will appear in the Opera browser. A balance to these was the news that for the first time in history, the Securities and Exchange Commission (SEC) of the United States fined the cryptocurrency bank AriseBank because of fraud allegations. The bulls were also frustrated by the news that due to the unfavorable situation in the cryptocurrency market, the mining giant Bitmain is closing its unit in Israel.
Against such a background, Bitcoin was growing and falling, and as a result, on the evening of Friday, December 14, it turned out to be where it had been a week ago, and even updated the low of the entire 2018, falling to the level of $3.225.
As for the basic altcoins, such as Ethereum (ETH / USD), Litecoin (LTC / USD) and Ripple (XRP / USD), they obediently repeated the movements of the reference cryptocurrency all week.


As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. The color here is red. It is almost an unprecedented case: 100% of the oscillators and 100% of the indicators on H4 and D1 are painted exactly in this color. 70% of experts also vote for the growth of the dollar and the fall of the pair. The reason for this is interest rates.
The likelihood that the Fed will announce a rate increase from 2.25% to 2.5% on Wednesday December 19 is over 75%. In addition, the market is confidently expecting one or two more increases next year. As for the growth of the euro rates, there is a complete uncertainty here. Draghi promised to keep the rate at zero level until the summer of 2019. But this summer rise is a big question. So, most investors are now looking south, to the zone of the year low, which was recorded on November 12, 1.1215. That it is the main goal for the pair. The nearest support is 1.1265;
The alternative scenario is supported by 30% of analysts and graphical analysis on D1. In the event the developments are according to their scenario, the pair will once again rise above the strong support/resistance level of 1.1300 and can even reach Pivot Point of the three-week side channel of 1.1360. The following targets are 1.1400 and 1.1440;

- GBP/USD. The British currency is facing a lot of events next week. On Wednesday, December 19, a block of inflation data will be published. And even if the inflation grows, the market may consider that such an increase is due to the weakening of the pound because of Brexit. The next day, the Bank of England will announce the interest rate decision, which is likely to remain unchanged, which will also play against the pound. Data on the GDP growth rates on Friday is unlikely to seriously affect the overall dynamics of the British currency. And they are negative.
50% of experts and about 90% of indicators agree with this. According to their forecast, the pair may decline first to the horizon of 1.2475, and then another 75 points lower.
20% of analysts have taken a neutral position, and the remaining 30% have voted for the pair's growth to the zone of 1.2670-1.2700;

- USD/JPY. Regarding the future of this pair, the indicators do not give any clear guidelines: their readings are divided almost equally. The same applies to the expert opinions: 45% of them are for the fall of the pair, 50% are for the continuation of growth and 5% just shake their shoulders. Such uncertainty becomes clear if you look at the pair's chart, which is now located approximately in the middle of the six-week side channel 112.30-114.00.
The meeting of the Bank of Japan is unlikely to affect the quotes of the pair, and the only event that could seriously move it up is the already mentioned decision of the US Federal Reserve on the interest rate. In this case, according to many analysts, the pair can break through the upper boundary of the channel and reach the zone of 114.55-114.75.
The graphical analysis on D1 has taken a sharply opposite position, which predicts the pair to fall to support 112.20 and then to the level 111.75;

- cryptocurrency. 60% of experts expect Bitcoin to continue the downtrend to the strong zone, fixed in July-August 2018, $2,500-2,700. The nearest support is in the $2,940-2.050 zone. In addition to the overall negative dynamics, the experience of the past year also plays in favor of bears, when at the end of December many wallet owners wanted to transfer their crypto savings to fiat currencies.
On the other hand, when analyzing the futures, one can see a slight increase (about 10%) of bullish positions, which gives grounds for 20% of analysts to talk about the pair going to the side trend, and another 20% to be filled with optimism in anticipation of the trend reversal and the rise of the pair to 4,500.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/

 

[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for December 24-28, 2018​

First, a review of last week’s forecast:

- EUR/USD. Despite the fact that, on the eve of the US Federal Reserve interest rate increase, 70% of experts, supported by 100% indicators, expected the dollar to strengthen, nothing of the kind happened. The euro was growing for the whole week, approaching on Thursday the last eight weeks' high at the height of 1.1485.
At the time the rate increase from 2.25% to 2.5% was announced, the dollar managed to win back a modest 85 points, but this victory turned out to be temporary. At his press conference, Fed Chairman Jerome Powell said that there would hardly be three rates increases in 2019, and that, in a better case, there would be only two. And according to US Secretary of the Treasury Stephen Mnuchin, if inflation remains low, there may be no rate increases next year. But no one expects unity within the team of President Trump and the Fed, or within the Fed either. In 2019, only two FOMC members see the rate at 2.5%, six at 2.75%, four at 3.25%, three at 3.30%, and two members of the Open Market Operations Committee would like it to be 3.6%!
As for the results of the week, after the release on Friday, December 21, of a whole package of data on the US economy, the pair returned to the central zone of the eight-month side channel and stopped at 1.1370;

- GBP/USD. As expected, neither the economic data published on Wednesday nor the decisions of the Bank of England on Thursday presented any surprises. Back on Tuesday, December 18, the pair moved to lateral movement in channel 1.2605-1.2705, where it remained until the end of the week, having met its finish at 1.2630;

- USD/JPY. Last week, the US dollar dropped significantly, not only against the euro. The DXY U.S. Dollar Index, which tracks the US currency against a basket of other major currencies, fell on Thursday to an eight-week low of 95.73. Its fall against the Japanese yen was particularly impressive, the yen won around 260 points against the dollar by Thursday. Experts say that the main reasons for such a jump are sales on the stock markets and the flight of investors to the yen as a safe haven in the face of continuing tensions in trade relations between the United States and China.

- Cryptocurrencies. The past week was marked by a steady growth of both the reference cryptocurrency and all major altcoins. The maximum growth of bitcoin (BTC/USD) was 33%, ethereum (ETH/USD) - 46%, litecoin (LTC/USD) - 45%, ripple (XRP/USD) - 41%. The most impressive increase, by 176%, was demonstrated by the Bitcoin Cash (BCH/USD), reaching $220 per coin at the peak. The total capitalization of the crypto market grew from $103 billion to $134 billion, that is, by 30%.
The reasons are both global, such as falling investors' interest in classic assets on world markets, and private ones, such as news on the closing of the short position, which was opened a year ago by a well-known crypto trader Mark Doe. There may be called a lot of reasons, but the main question that worries the whole crypto community is whether this weekly increase is not a short-term correction. Or is it, which is even worse, another trap, arranged by bears for the bulls?
Whatever it may be, but at the end of the week, Bitcoin buyers met strong resistance at $4,300, resulting in this cryptocurrency's fall to $4,000. And other digital assets slipped a little as well, following it.


As for the forecasts, it should be noted an error is quite often not in defining targets, but in determining the timing of their achievement. This is especially true of the coming days. The past week was the last full trading week in the past year. Next week, trading will begin only on Wednesday, December 26, and the world will celebrate the New Year during the night of Monday, December 31, to Tuesday, January 1. That is why this time we decided to discuss experts' opinions not only for the upcoming week, but also for the next month, which we hope will help traders in more accurate determination of trends and benchmarks.

- EUR/USD. The weekly forecast looks like this: 40% are for the fall of the pair, 30% are for its growth and 30% have taken a neutral position. Forecast for January: 60% are for the fall, 20% are for the lateral trend and only 20% are for the strengthening of the European currency. The main targets for bears are 1.1300, 1.1265, then the December low at 1.1215. In the event of a breakthrough of this support, the pair may sink to the horizon of 1.1120 and even lower, down to the level of 1.0910. The main target for the bulls is the zone 1.1525-1.1625, after reaching which the euro will head for the heights of 1.1730 and 1.1815;

- GBP/USD. Here, experts also expect the dollar to strengthen during the month and, as a result, the pair will fall. For this, 60% have voted. Supports are 1.2605, 1.2525, 1.2475 and 1.2345. Resistances are at 1.2725, 1.2840 1.2925 and 1.3050;

- USD/JPY. According to 55% of analysts (weekly forecast) and 65% (monthly forecast), the pair has already approached its local bottom, and now it is waiting for a rebound upwards. The goals are 112.30, 113.15, 113.70 and 114.20. The number of those who have voted for the side trend in this case is small - about 10%. The rest of the experts have given their preference to the bears, believing that the pair is waiting for a further fall. Supports 110.80, 109.85, 109.35 and 108.65;

- Cryptocurrencies. Despite their growth last week, the general mood in the crypto market is rather gloomy. More than 70% of analysts and market participants believe the current rise is purely speculative and they expect the downtrend to resume. They are still expecting bitcoin to fall to the strong zone, recorded in July-August 2018, $2,500-2,700. Moreover, such a fall may take from one to two months. The nearest support is in the $2,940-2.050 zone.
The bullish ambitions of the remaining 30% respondents look a bit more modest: they expect the BTC/USD pair to grow only to $4,800-5,200.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/

 

[Stan NordFX]

2018 Financial Results and 2019 Forex Forecast​

What Happened: Year 2018

As usual, Deutsche Bank experts summed up the year at the end of December. And the results were just fantastic, with a negative connotation. 93% of all assets fell in comparison with January 2018, and this figure was the worst in the last 118 years, surpassing even 1920 with its 84%.
Experts say that the main reason for the recession was “extremely soft monetary policy,” which grew into a monetary tightening. Four US interest rate increases by the US Federal Reserve were enough to send most of the markets to a nose dove, which can turn into a prolonged recession. US President Donald Trump openly called Fed Chairman Jerome Powell and his colleagues insane, calling for an end to the rate hike. But, as it turned out, the President could not decree bankers, and on December 19, the Federal Open Market Committee (FOMC) raised the rate by another 0.25%. Moreover, it turned out that in 2019 only two members of this Committee see a rate of 2.5%, six see it at 2.75%, four at 3.25%, three at 3.30%, and two FOMC members would like it to be 3.6%!
The result is obvious: at the end of the year, everything that could fall, was falling on the market. The Dow Jones Industrial Average had the worst December since the Great Depression of the 1930s. As Bloomberg calculated, the collapse made 500 world richest people poorer by $ 511 billion, and Facebook founder Zuckerberg suffered the most, his fortune lost $23 billion.

As for the foreign exchange market, the beginning of 2018 was marked by a serious strengthening of the euro against the US dollar. At the peak, on February 16, the EUR/USD pair reached 1.2555. But then the difference in the monetary policy of the Fed and the ECB, the difficulties with the Brexit agreement, the Italian problems and the slowdown in the Eurozone economy as a whole, played into the dollar, and the pair went down, reaching the bottom at 1.1215 in mid-November.

GBP/USD experienced similar fluctuations. It reached the maximum value of 1.4375 on April 17, and the minimum was recorded on December 12, when the pair fell to 1.2475, losing 1,900 points in eight months.

As for the Japanese yen, investors viewed it mainly as a safe haven in case of acceleration of trade wars between the USA and China. However, since no special changes were observed on this front, the USD/JPY pair met the end of the year near the Pivot Point of the last two years in the 111.00 zone. Thus, compared to the beginning of 2018. the pair lost only about 200 points.


What will Happen: Year 2019

According to a number of analysts, everything that happened in the outgoing year is only the beginning of a common prolonged depression. First of all, the forecast concerns the United States, where the yield on two-year Treasury bonds has already decreased, and the yield on similar ten-year securities has fallen to a seven-month low, which is considered a sign of recession.
The situation in the Eurozone looks somewhat better, despite the fact that the ECB has revised its forecasts for inflation and economic growth downward. The past year has shown that the trade wars unleashed by Trump are not so terrible for the Old World as was previously assumed. However, both the European currency and the British pound continue to be influenced by the problems associated with Brexit.
On the other hand, the end of the 90-day truce between the United States and China will soon come up, which introduces additional uncertainty about the dollar exchange rate.
In the meantime, the forecasts given by strategists from leading world banks and agencies, for the most part, look quite similar.

Blomberg bases its forecast on the positive dynamics of European exports, improved situation in the German automotive industry and accelerated growth of average wages. All this may lead to the normalization of the monetary policy of the Eurozone and the growth of the euro to the level of $1.20 by the end of the year.

Morgan Stanley also expects the year 2019 to be difficult for the dollar and recommends its sale against the euro amid the forecast for inflation in the Eurozone. The immediate target for the EUR/USD pair is in the $1.18 zone.

It should be noted that, for the most part, analysts make very optimistic forecasts for the euro for the next 3-month period. Societe Generale and CIBC Capital Markets point out at the level $1.17, TD Securities forecast is at $1.18, Unicredit at $1.19, and finally, Lloyds Bank has set a record bar of $1.24.

However, there are more cautious views. Thus, Citi experts believe that the European currency has not yet reached its bottom, and by the end of the I quarter of 2019. it may drop to $1.13, and only then it will go up, reaching the mark at $1.18 in the second half of the year. The Barclays Capital expect a fall to $1.12 by March 31, and for ING Group forecasts, the bottom may be at the level of $1.11.

JPMorgan Chase analysts also believe that the US economy will experience a recession in 2019, as Trump's fiscal stimulus will run out, and the Fed’s monetary policy will no longer provide cheap money. Thus, the growth rate of the Eurozone economy will come out ahead, and the euro will start to grow on expectations of higher interest rates from the ECB, but this will happen only in the second half of 2019.
In numbers, the forecast looks like this: falling to $1.11 in the first quarter and rising to $1.18 by the end of the fourth quarter of 2019.

As for the GBP/USD, the JPMorgan Chase forecast assumes the growth of the British currency to $1.30 in the first quarter and to $1.37 by the end of the year, provided that Brexit is quiet (40% probability). In the absence of an Agreement on the terms of leaving the EU, the pound sterling will fall by 10%, and in the case of Brexit cancellation, on the contrary, it will grow by 10%.

Concerning the future, the yen forecast is negative. So, the pair JPY/USD in the first half of 2019. expects growth first to the level of 112 yen per dollar, and then to the values of 2016. at 118.00. Experts explain the possible weakening of the Japanese currency by an increase in foreign investment by Japanese companies and a worsening trade balance. Spreads are also expected to increase on the rates, which will adversely affect the yen rate.

Similar trends are predicted by Citi strategists. In their opinion, the GBP/USD is expected to grow to 1.26-1.30, and JPY/USD - to 113.00-115.00.


John Gordon, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/

 

[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for January 7 - 11, 2019​

For starter, a few words about the events of the past week, the first working day of which gave unpleasant surprises, which for some were quite pleasant.

- Not having recovered after the New Year celebration, in the morning of January 2, the pair EUR/USD made a sharp dash to the south, losing almost 200 points in a day. Then, however, everything returned to normal, and the pair quickly returned to Pivot Point 1.1400, around which it has been revolving since October 2018. On Friday, January 5, using positive data from the US labor market, the dollar tried to regain the lost ground, but the attempt failed, and the pair ended the week at 1.1394.

- An even sharper jump from 2018 to 2019 was expecting the GBP/USD, which lost on January 2, due to increased demand for the dollar, more than 400 points. Then, just as in the case of the European currency, the excitement subsided, and the pair returned to the main support/resistance line of the last two months in the 1.2720 area;

- The forecast for the pair USD/JPY suggested the strengthening of the yen as a safe haven currency. But the fact that within only one hour on January 2 it would be able to win back 400 points from the dollar, that is, almost everything it had lost during the whole 2018, was almost impossible to foresee. The cause of the incident was a "festive" lack of liquidity in Japan, which was then eliminated. But the dollar could not fully recover, and the pair ended the trading week at 108.50;

- Cryptocurrencies. Against the background of the major currency pairs Bitcoin demonstrated a remarkable stability last week, keeping on to lateral movement in a narrow corridor of $3,775-4,100 and returned where it has repeatedly been in the last six weeks by Friday evening, to the level of $3,955. Following the example of the reference cryptocurrency, the Olympic calmness was shown by Litecoin (LTC/USD). But Ethereum and Ripple behaved somewhat more actively. Thus, the ETH/USD pair has grown by 12%, rising above the $160 mark, and the XRP/USD pair, on the contrary, lost 7%, although it could not break through the support of $0.3560.


As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. Both trend indicators and oscillators on H4 and D1 have taken a neutral position. The opinions of the experts are divided as follows: 20% have voted for the growth of the pair, 40% are for the sideways trend and 40% are for the strengthening of the dollar and the fall of the pair.
It should be noted that in the transition from the weekly to monthly forecast, the number of supporters of strengthening the US currency rises to 65%. Graphical analysis on D1 also indicates a possible decrease of the pair to December lows in the 1.1215 zone. The nearest strong support area is 1.1305.
As for the “bullish” scenario, according to its supporters, the dollar will continue to be pressured by political uncertainty in the United States. The nearest strong resistance zone is 1.1485-1.1500, in case of its breakthrough, the next target for the bulls will be consolidation in the zone 1.1550-1.1625.
Among the economic events that could affect the formation of dollar pairs, one should pay attention to the US FOMC protocol, which will be published on Wednesday evening, January 9, the ECB meeting on Thursday, January 10, as well as data on inflation in the United States, which will be released at the very end of the week, on Friday, January 11;

- GBP/USD. Here, of particular interest are the speech of the head of the Bank of England, Mark Kearney on January 9, as well as data on UK GDP, published on January 11. However, in both cases, one should not expect any special surprises, and the uncertainty associated with the British exit from the EU will continue to be decisive for the British pound exchange rate. That is why 65% of experts predict a further fall of the pound. According to them, with the support of graphical analysis on D1, the pair will first test support 1.2615 once again and, if successful, will move to the zone 1.2475-1.2525. It is unlikely to achieve the low of the first week of January in the 1.2400 zone in the upcoming week.
20% of analysts are in favor of the GBP/USD sideways trend, and only 15% have sided with the bulls, suggesting movement of the pair in the corridor 1.2715-1.2835. The next resistance is 1.2925.
At the time of writing the forecast, about 90% of indicators sided with the bulls. However, most likely, this is only a consequence of the upward movement of the pair on January 3-5. Moreover, 10% of the oscillators have already signaled that it is overbought, which indicates a possible reversal of the pair to the south.

- USD/JPY. About half of the indicators are red and half are green. As for the opinions of analysts, 70% of them predict a decline of the pair to the level of 107.00, and then another 100 points lower. So far, only 30% of experts have voted for the growth of the pair, but in the medium term, the number of supporters of strengthening the dollar doubles. The main goal for the bulls is to return to the zone 112.25-113.80. The nearest resistance levels are 109.45, 110.25 and 111.15;

- Cryptocurrencies. The behavior of BTC/USD does not give reasons for optimism or pessimism. Therefore, the experts' opinions are divided almost equally: 30% are for the growth of Bitcoin, 30% are for its fall and 40% are for the continuation of the sideways trend. At the same time, the total capitalization of the crypto market is at the level of the end of December last year, around $130 billion, which also does not allow for making any predictions. Although some experts, based on the cyclical nature of the growth and the fall of quotations, argue that the first quarter of 2019 will be on the side of buyers, and expect the pair to rise to $4,800-5,200. The alternative scenario: the end of the correction and the fall of BTC/USD to the strong zone, recorded as early as July-August 2018: $2,500-2,700. Moreover, such a fall may take from one to two months. The nearest support is in the $2,940-3.050 zone.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/

 

[Stan NordFX]

In Recognition of a Successful 2018, NordFX Receives Three More Prestigious Awards​

The results of the annual voting were published on the website of the International Association of Forex Traders IAFT Awards at the very beginning of the new year 2019. The voting was held for the seventh time, and according to its results a list of the most popular financial market companies in 2018 was formed. More than 200 companies struggled to win, and only 23 of them received the highest award: a victory in a nomination and a title of market leader. Among them is the brokerage company NordFX, which has won in the nomination “Best Broker in Asia” with a large difference.

Two more good pieces of news have been brought by the Market Leader magazine, which has published the results of the Expert Council of the MasterForex-V Academy voting. The administration and professional traders of the Academy evaluate the real results of financial organizations throughout the year, and at the end of the year they sum up the final results. According to the chairman of the contest jury, the rating of MasterForex-V Expo, which is compiled on the basis of two dozen criteria, is an Expo during which the best brokers are objectively presented. And thus in 2018, for the fourth year in a row, NordFX receives the Grand Prix and the title “World Best Broker”.

The company scored most votes on a variety of criteria, including the best dealing quality, the best innovations, the best investment products and funds, and a number of other equally important parameters. Suffice it to say that about 55% of the Academy's traders have opened their trading accounts in NordFX.

The company has received another award from MasterForex-V Expo in the nomination “Best Crypto Broker 2018” for creating unique trading conditions that enable traders to achieve best results when trading in the cryptocurrency market.

We sincerely thank everyone who has given us their votes, and we understand that these awards are not only a proof of the company's success in the past, but also oblige us to make every possible effort to justify your trust in the present and in the future.

#nordfx #cryptocurrency #forex #exchange #broker #funds

https://nordfx.com/

 

[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for January 14 - 18, 2019​

First, a review of last week’s events:

- EUR/USD. On Wednesday, January 9, after repeated attempts, the pair managed to break through the upper limit of the mid-term side channel in which it was located, starting from November 2018. Having overcome the resistance in the area of 1.1500, it reached the height of 1.1570, after which the followed by a trend reversal, and the pair once again found itself within the above channel, ending the week at 1.1470.
The weakening of the dollar was influenced by a number of factors: the unplanned “holidays” of the US Government, a very cautious, “pigeon”, speech of Fed Chairman Jerome Powell at the Economic Club meeting in Washington, where he pronounced the word “patience” five times. But the main factor, according to many experts, was the active strengthening of the Chinese yuan before the expected signing of a trade agreement with the United States;

- GBP/USD . Recall that only 15% of analysts sided with the bulls last week. But they were right. Unclear prospects for the dollar outweighed the concerns associated with Brexit. The pound was supported by positive UK GDP data released on Friday, January 11th. As a result, the pair rose by almost 150 points, reaching the height of 1.2865, after which a slight rebound followed, and the quotes dropped to the zone of 1.2840;

- USD/JPY. After the “New Year storm,” caused by the lack of liquidity, the Japanese currency is complete calm, moving in a fairly narrow side corridor within 107.75-109.10. The pair met the end of the week in the same place where it started , near the Pivot Point 108.50. The reason for this is the emerging balance between the attractiveness of the yen as a safe-haven currency and the growing interest in other currencies that can bring grat profits if a trade deal is concluded between the US and China;

- Cryptocurrencies. Our review is fundamentally different from other reviews in that it is not an opinion of one particular analyst. In our analysis, we strive to collect as many opinions of various experts as possible so that, getting rid of harmful “noises”, we can identify the main trend that determines the movement of the pairs in one direction or another. However, it can be very difficult, as, for example, now, for cryptocurrencies.
Some experts consider the decline of the main crypto pairs last week as the end of the positive correction that started in mid-December 2018, and a return to the negative dynamics of the market. And someone, on the contrary, see it as a post-holiday syndrome, at the end of which the quotes will again rush up.
Whatever it may be, the crypto market's capitalization fell from $138 billion on January 6 to $123 billion on Friday January 11, having lost almost 11%. The quotes of major cryptocurrencies, Bitcoin, Litecoin, Ethereum, Ripple, and many other, also fell. Thus, the pair BTC/USD is traded near the three-week low in the $3,700 zone.
The reasons for the fall are the fact that investors, hoping for a festive gap, disappointed, are now closing their positions, and the fact that about 40,000 Ethereum coins have been stolen from Gate.io exchange. The news about the failure of the Japanese regulator FSA to launch ETF based on cryptocurrency might also add to the negative reasons. In general, there are many reasons, but the fact remains that all the main altcoins have moved to the red zone and are traded down, from 5% to 23%, as, say, ETH.


As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. As you know, the European currency has a strong correlation with oil and metals. And on the commodity market, we are now witnessing a positive trend, especially with regard to energy. The intentions of OPEC to completely remove the excess oil from the market should lead to a further increase in prices, which plays into the hands of the euro. The pause, taken by the Fed regarding the increase in lending rates for the US dollar, is worrying investors.
As a result, at the moment, 65% of analysts, supported by 90% of oscillators and 70% of trend indicators on D1, have voted for the rise the pair above the 1.1500 zone up and its growth, first to the height of 1.1550 and then to the level of 1.1625.
The experts, who still remain loyal to the US currency, believe that, returning to the medium-term channel 1.1300-1.1500, it will not break out of it for a long time. And this is why the pair is expected to decline, first to its central line 1.1400, and then 100 points lower;

- GBP/USD. It is clear that the absolute majority of indicators are currently colored green. However, already 10% of oscillators on D1 signal that this pair is overbought. The possibility of its falling to the horizon 1.2600 is indicated by graphical analysis on the daily time frame as well. As for experts, there is no clear advantage here either for bulls or bears. 55% of them have voted for the growth of the pair, and 45% are for its fall.
On Tuesday, January 15, the British Parliament will vote on Brexit. It is likely that the version of the agreement with the EU proposed by Prime Minister Teresa May will be rejected, and another delay is coming. At the same time, it is becoming more and more obvious that a tough divorce with the European Union is not included in the government’s plans, which positively affects the quotes of the British currency. The additional support for the pound is rendered by the rise in oil prices.
Until the results of the voting become known, there is no sense to make any predictions. One can only specify the key levels: support - 1.2780, 1.2720, 1.2660 and 1.2600, resistance - 1.2925 and 1.3050;

- USD/JPY. Indicators and graphical analysis on D1 predict a strengthening of the Japanese currency, with which 65% of experts agree, they expect the pair to decline to 107.50-107.80, and then even lower, to support 106.70.
On the other hand, due to low interest rates in Japan, the pair is quite strongly correlated with the major global stock indices. And the upward trend in this market implies a possible growth of the pair to the levels of 109.10 and 109.45, and in case of the breakdown of the latter, its transition to the zone of 110.25-110.80;

- Cryptocurrencies. Despite the fall in the crypto market capitalization, the average daily number of transactions with Bitcoin approached 280,000 over the last week, which is comparable to the peaks of 2018. Therefore, it is is hardly worth it to predict the end of the benchmark cryptocurrency, and indeed the entire market. But the probability of the BTC/USD breakout of support $3,700 and its return to the mid-December lows in the $3,250 zone remains quite high. This scenario is supported by 45% of experts.
Most analysts believe that next week the pair will be able to stay in the three-week “speculative” zone of $3.685-4.385. However, they speak very cautiously about the rise to the level of $5,000 and only in the longer term.
The expectations for Ethereum are somewhat better. Experts expect that after the hard fork called Constantinople, the ETH/USD pair will go up.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/

 

[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for January 21 - 25, 2019​

First, a review of last week’s events:

- EUR/USD. One of the scenarios suggested that the pair would return to the limits of the medium-term lateral channel 1.1300-1.1500, and its central line was called as the main target. It is this scenario that was brought to life. It was already on Tuesday, January 15, that the pair reached the horizon of 1.1400 and then moved along its length up to the weekend, making oscillations in a fairly narrow range. At the same time, the pair was under constant pressure, which allowed the bears to lower it to the level of 1.1360 by the end of the working week.
The euro is falling for a number of reasons: this is the weak economic indicators of the Eurozone (first of all, Germany), and the decline in export potential, and chaos with Brexit. At the same time, an active game to increase the British pound has been underway recently, which also did not benefit the European currency;

- GBP/USD. Against the background of talk about a possible postponement of the UK’s exit from the EU and even the possibility of a second referendum, the game to raise the pound after the failure of Prime Minister Theresa May during the Brexit vote was particularly well seen in pairs such as EUR/GBP and GBP/CHF. As for the pound against the US dollar, having fought off on Tuesday from the level of 1.2667, it managed to rise by more than 330 points by Thursday, reaching a symbolic height of 1.3000. After that, there followed a strong rebound, and the pair ended the week almost at the same place where it started, in the zone of 1.2870;

- USD/JPY. The balance that emerged a week ago between the attractiveness of the yen as a safe haven and investors' interest in riskier, but also more promising investments, shifted towards the latter. As a result, the pair quotes went up, and by the end of the week, 109.76 yen were already being paid for the dollar;

- Cryptocurrencies. Paraphrasing the name of a famous novel, one can say: "All Quiet on the Crypto Front" Among the positive news is the plans of the Thailand Stock Exchange to obtain a license for operations with digital assets. However, the timing of this initiative is not yet known. The Constantinople hard fork in the Ethereum network is postponed indefinitely until the elimination of vulnerabilities. In general, there reigns a complete uncertainty. Even the ETC tokens stolen from the Gate.io Exchange were for some reason returned back by the attackers without explaining the reasons for their action.
On this blurred news background, the pair BTC/USD is flat. At the same time, the range of its oscillations, starting from Wednesday, is continuously decreasing. Following Bitcoin, Litecoin, Ripple, and other top altcoins also moved to the lateral movement. And even Ethereum managed to partially recover the loss. As a result, the decline in the ETH/USD pair in seven days was only about 5%.


As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. Major investor concerns related to European currency have been listed above. However, not everything is so bad in Europe. Due to the low euro exchange rate, the PMI activity index no longer falls, and many factors point to the stabilization of the eurozone economy. In addition, the market is waiting for the promised ECB interest rate increase in early autumn 2019. As for the US dollar, here, on the contrary, the likelihood of another rate increase in the near term is practically nil. Further growth of the economy is also questionable. Experts believe that the political crisis and the current cessation of government work could lead to a fall in annual GDP of 0.5-0.75%.
All this allows 45% of analysts to talk about the possible strengthening of the euro and the upcoming trend change from bearish to bullish. The immediate goal is the central line of the two-month ascending channel in the 1.1450 zone, then the levels of 1.1500 and 1.1570. 15% of oscillators that give signals that the pair is oversold are in agreement with this scenario.
The remaining 85% of the oscillators, as well as 100% of the trend indicators on H4 and D1, are colored red. 55% of the experts Insist on the further decline of the pair as well. The support levels are 1.1300, 1.1270 and 1.1215.
The ECB decision on interest rates on Thursday, January 24 can be noted among the events of the upcoming week. However, with almost one hundred percent probability the rate will remain unchanged, and therefore this decision will not affect the quotes of the pair. Of much more interest is the speech of Prime Minister Theresa May at the Parliament of Great Britain, where she should announce her backup plan for leaving the country from the EU;

- GBP/USD. Naturally, everything connected with Brexit directly affects the quotes of the pound. And here there are plenty of options for further developments, which makes the British currency a risky and unpredictable asset.
What is the probability of elections? Will the May government change to the Corbin government? How possible is the hard “divorce” scenario with the European Union? And will the timing of “divorce” be postponed in accordance with Article 50 of the EU Treaty? Is there any chance of a new referendum? And wouldn't this referendum be the reason for large-scale protests and riots?
Questions, questions, questions ... And the complete uncertainty, which is fertile ground for rumors and all sorts of speculations. In such circumstances, 40% of experts believe that the pair still has potential for growth, 40% are waiting for it to fall, and the remaining 20% advise to wait for greater clarity, carefully watching the developments.
Support is in zones 1.2800-1.2830 and 1.2615-1.2645. Resistance levels are 1.2920, 1.3000 and 1.3070;

- USD/JPY. Most experts (60%), in agreement with 90% of oscillators, expect the continuation of capital outflows towards riskier assets and a fall in the yen. In this case, the pair can rise to a height of 110.30, and then another 100 -130 points higher - to a strong support/resistance level of 2017-18. in the zone 111.55.
An alternative point of view is supported by 40% of analysts, graphical analysis on D1 and 10% of oscillators, signaling the pair is overbought. The main support levels are 109.00 and 107.75;

- Cryptocurrencies. For the whole past week, the BTC/USD pair was trading in a very narrow range of $3,570-3,800. Very often, such a lull is a harbinger of strong price movements. 45% of analysts believe that the pair will try to break through the lower boundary of this channel, and, if successful, it is expected to decline to the lows of 2018 in the zone of $3,200-3,250. A bit more experts (55%), on the contrary, expect a rebound upwards. The goal is to return the pair to $3,850-4,215. The reason for this optimism is a certain increase in the capitalization of the crypto market, which, compared with January 13, increased by about 5%, approaching the mark of $130 billion.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/

 

[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for January 28 - February 01, 2019​

First, a review of last week’s events:

- EUR/USD. "The "pigeon" rhetoric of ECB Head Mario Draghi during his speech on Thursday January 24 for some time knocked over the pair to the lower border of the medium-term side channel 1.1300-1.1500. However, the bears' joy turned out to be short - lived: having visited the level of 1.1289, the pair turned around and returned to the channel center line, at the 1.1400 zone, by Friday evening. Which is understandable: on closer examination, Draghi didn't say anything special. Noting some strengthening of the labor market and reduction of risks for the Eurozone economy, the head of the ECB said that there was no point in holding a new QE now. At the same time, the time frame for the first raising of the interest rate on the euro remains unchanged.
As for the dollar, the situation is reversed. The latest publication in The Wall Street Journal has strengthened investors' opinion that the US Federal Reserve will soon complete a cycle of tightening monetary policy, and this will happen earlier than analysts had expected;

- GBP/USD. The pound is growing along with the hope of a "soft" version of Brexit. Rumors on this have been warmed up by an article in the British tabloid The Sun with an unconfirmed (!)information that the Democratic Unionist Party can support Theresa May ’s initial deal if changes are made there as for the special terms for Ireland. There are also persisting rumors about a possible long delay in the deal with the EU on the basis of Article 50. The voting in the Parliament of Great Britain on Tuesday, January 29 will show if they are founded. In the meantime, the pound shows steady growth against all major currencies, including the euro, yen and dollar. Having broken through the horizons of 1.3000 and 1.3100, by the end of Friday, January 25, the GBP/USD reached the height of 1.3200, adding more than 300 points a week;

- USD/JPY. Despite the fact that the risk appetites of investors continue to grow, the Japanese currency has stopped falling. The pair moved to a sideways movement in a narrow corridor 109.14-110.00 and ended the week almost in the middle of this corridor, in the zone 109.50;

- Cryptocurrencies. The lull in this market continues, capitalization is not growing, and the major coins rates are showing a sideways trend. Neither criticism from JP Morgan analysts, nor criticism from a number of participants in the World Economic Forum in Davos, who had already completely buried Bitcoin, or the withdrawal of Bitcoin-ETF from the Chicago CBOE exchange, could affect it . The pair BTC/USD could not get out of the corridor of $3,570-3,800. Attempts to break it both up or down ended in failure. In the first case, the pair managed to reach the height of 3.870, in the second - go down to the horizon of 3.460, but eventually returned to the center of the corridor in the region of $3,580-3,675.


As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. The rates of dollar pairs in the near future will certainly be affected by news of trade negotiations with China, which will be held on January 30-31 in Washington, and which have quite a lot of chances for success. In addition, statistics for the US labor market will appear on February 1. However, Trump's economic adviser Larry Cudlow has already “leaked” the information that indicators such as NFP will increase greatly, given a very small number of applications for unemployment benefits.
In addition, on Thursday, January 31, Eurozone GDP data will be published, which are likely to be disappointing.
All this can strengthen the US currency, which is agreed by 60% of experts, expecting the EUR/USD pair to fall, first to the lower border of the medium-term channel 1.1300, and then even lower, to support 1.1270 and 1.1215.
On the other hand, as has already been said, the market has intensified expectations that the tightening of US monetary policy will be phased out. That is why on January 30, special attention should be paid not so much to the Fed's decision on the interest rate (this time it is likely to remain at 2.5%), but rather to the comments of the Fed management on the plans for 2019. And if the information on the number of upcoming rate increases will disappoint investors, we can expect a decline in the dollar, which could turn into a long-term trend. In this case, according to 40% of analysts, the EUR/USD in the near future can break through the upper limit of the channel 1.1500 and reach the level of 1.1580.
And of course, we must not forget about the vote in the British Parliament on Brexit;

- GBP/USD. So, on Tuesday, January 29, Prime Minister Theresa May should announce her alternate plan for leaving the EU in the British Parliament. Some versions of this have already been mentioned in the first part of this forecast. The Labor opposition cannot decide what to do, and this reduces the likelihood of a second referendum or re-election. And the Telegraph is discussing as much as five amendments, which can be put to a vote.
We will know only on Tuesday how the parliamentarians voted. As for our experts, their votes are distributed as follows: 50% expect the pair to fall, 40% see its growth, and 10% are undecided. Supports are at the levels of 1.3070, 1.2900, 1.2820, 1.2700 and 1.26 60. Resistance levels are 1.3250, 1.3300, 1.3360 and 1.3555;

- USD/JPY. Unlike the British Parliament, there are no surprises to be expected from the Bank of Japan’s monetary policy committee meeting on January 28. The rate of the pair may be much stronger affect ed by the information from the United States. This and the information regarding the increase in interest rates on the dollar, and the success or failure in the US-China negotiations January 30-31. If both sides come to a consensus, and it is quite likely, since Trump is in great need, the American stock market will go up. In this case, the rate may rise above 110 yen for 1 dollar. 70% of analysts, supported by graphical analysis on D1, indicate a strong level of 2017–18 in the zone 111.55 as the main target.
An alternative point of view is held by 30% of experts and 15% of oscillators on D1, which give signals that the pair is overbought. In the case of its downward movement, supports are located at horizons 109.15,108.70 and 107.75.

- Cryptocurrencies. The sluggish reaction to the news, which a year ago would have caused fluctuations in quotations in the tens or even hundreds of percent, suggests that the digital currency market is increasingly beginning to resemble Forex. This is facilitated not only by the “water tub”, which has cooled the heat of the most ardent crypto fans, but also by the increased attention from regulators. This time, the Bank of England has attended for the protection of investors, who gathered to classify cryptocurrencies, having divided them into three categories and subordinating to the current legislation.
We think that in the near future we should not expect the arrival of large institutional investors, which their smaller colleagues so much hoped for. The “whales” do not have any goals to earn quick profits, and they will wait until the market situation is completely clear, and the risks from such speculations become the lowest. And such an expectation can last for years and even decades.
In the meantime, as already mentioned, the major coins are in a side trend. However, it is impossible not to notice the persistent pressure from the bears. For example, the Pivot line, around which the BTC/USD has fluctuated over the last two weeks, has dropped by 20 points, the ripple (XRP/USD) has fallen by about 5%, and the Ethereum (ETH/USD) - by 8%. Of course, it is a trifle for crypto pairs, but, perhaps, it is an indicator of the direction of the coming breakthrough.
The overwhelming majority (70%) of experts believe that bitcoin will finally yield to such pressure and will decrease first to the 2018 lows in the $3,200-3,250 zone, and then rush to support at $2,400.
10% of analysts have voted for the continuation of the side trend, and 20% are hoping for the pair to grow and return to the $3,850-4,215 zone.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/