Daily F.X. Analysis, October 16 – Top Trade Setups In Forex – U.K. & U.S. Events In Focus! 

Global markets are expecting movements on the release of retail sales and inflation figures from the U.S. and U.K. The major highlight of the day was the British pound which soared to its highest level since mid-May versus the dollar, following a statement that administrators were confined to a deal for Britain to withdrawal the European Union. Sterling spiked after the report from Bloomberg about the Brexit deal on Tuesday. It was reported that the United Kingdom and the European Union have agreed on a legal draft of Brexit deal after the meeting of both parties. Economic Calendar – U.K. & U.S. Events In Focus        BTC/USD – Daily Analysis Securities and Exchange Commission (SEC) of the United States is repeatedly requesting remarks on a suggested exchange-traded fund (ETF) based nearby bitcoin and Treasury bonds. Technically, Bitcoin is facing key resistance at $8,739. At the time of writing, bitcoin is exchanging hands at $8,310, drawing a 0.1% loss on Wednesday. It’s also worth marking that moving average crossovers are depending on past prices, and these tend to lag the price action. So we can’t depend on these lagging indicators.  Anyways, the Bitcoin continues to trade within a tight trading range of 8,115 – 8,340 for another day. We need a breakout to determine further trends.  BTC/USD – Daily Technical Levels Support    Resistance  8,133.86     8,654.05 7,951.34      8,991.72 7,431.15       9,511.91 Pivot Point 8,471.53 BTC/USD – Daily Forecast The BTC/USD may gain support above 8,115 levels

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Daily F.X. Analysis, October 15 – Top Trade Setups In Forex – BOE Gov Carney Speaks! 

On Tuesday, the dollar floated under 2-1/2-month highs versus the safe-haven currency Japanese yen The greenback failed to extend fresh gains as confidence over trade agreements between the world’s two largest nations and for a definite British departure from the European Union started to decline. The U.S. dollar also traded slightly bearish after the Eurozone’s Industrial Production for the month of September at 14:00 showed growth and supported Euro by releasing at 0.4% against 0.3% expectations. Today, investors will be looking to trade the BOE Gov Mark Carney Speech later in the day.  Economic Calendar – BOE Gov Carney Speaks    BTC/USD – Daily Analysis The BTC/USD bulls seemed as if they were carrying invasion during the previous week as BTC/USD grew by above $1,000, albeit instantly.  Bitcoin surged during the week from a low point of $7,760 placed on October 7 to above $8,800, where it declined to nearby the 200 Day Moving Average (MA) on October 11.  Following this, 50% of the weekly earnings were dried out in a matter of minutes as it dropped back below to the $8,300 range. As Bitcoin price tries another return, could we begin to notice altcoins recovering impulse? Let’s discuss the technical side of the market, as the BTC/USD traded mostly in narrow ranges due to holidays in the U.S.m, Japan, and Canada. BTC/USD – Daily Technical Levels Support   Resistance  8,133.86      8,654.05 7,951.34      8,991.72 7,431.15       9,511.91 Pivot Point 8,471.53 BTC/USD – Daily Forecast Bitcoin trades inline

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Daily F.X. Analysis, Oct 14 – Top Trade Setups In Forex – Happy Thanksgiving Day! 

The US Dollar is considered as the biggest rival of the Euro, and these currencies often see a negative correlation. Another reason behind the Euro’s strength last week was the weakness of the US Dollar. Michel Barnier, the EU negotiator on Friday, said that UK has accepted that the Custom border cannot be erected as a solution to the backstop, and both sides were racing to reach a deal before EU Summit next week. US Dollar showed weak performance last week after the release of minutes from the Fed’s previous meeting, which showed a surprising split in tone among officials. Fed in the last month cut its bank rate by quarter points.  The minutes revealed that some officials were against the bank rate cut, and some wanted an aggressive rate-cut. The speculations that the Fed will be more dovish next month made US Dollar wear. Overall, the banks will be closed in observance of Thanksgiving Day today.  Economic Calendar – Thanksgiving Day     BTC/USD – Daily Analysis The Bitcoin traders were excited to see Bitcoin had suddenly dropped the $8,600 resistance to break over $8,800 in less than an hour. It was a huge move, and it would have established the point that bulls had obtained enough force to start a rally. Since its very small pump to $8,700 on Friday, BTC dropped back to support at just over $8,300 and settled there for the span of the weekend. Very light trading activity had occurred until late Sunday trading

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Daily F.X. Analysis, Oct 11 – Top Trade Setups In Forex – Canadian Labor Report Ahead! 

On Friday, most of the investor’s focus stays on the U.S. – China trade talks. The United States and China started its top-level negotiations in Washington. After the meeting, it was reported in South China Morning Post that there was no progress in deputy-level trade-talks and that Liu would cut his visit short.  The last month’s Federal Reserve meeting minutes were issued on Wednesday, which showed increasing concern about the market expectations on further rate cuts this year. The U.S. Consumer Price Index (CPI) showed a drop in September and increased the possibility of further rate cuts by fed and made U.S. Dollar weaker on Thursday.  The ECB lowered its deposit rates by ten basis points and introduced a new bond-buying program that would schedule in November. Bank’s officials highly criticized this decision as it would lead to less growth and lower productivity. Economic Calendar – Canadian Labor Report Ahead   BTC/USD – Daily Analysis Lately, there was a definite surge in bitcoin over the $8,602 and $8,652 resistance areas versus the US Dollar. Besides, the price fastened over the $8,800 resistance zone and endured well over the 100 hourly simple moving average.  The price traded near to the $8,950 level and made a fresh weekly high at $8,934. Nevertheless, the price attempted to stay more elevated, and there was a definite drop under $8,800. In addition to this, the price breached the 61.8% Fib retracement point of the current rally from the $8,457 low to $8,934 peak. There is a

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Daily F.X. Analysis, Oct 10 – Top Trade Setups In Forex – GDP and CPI Figures In Focus! 

On Thursday, the financial market’s focus stays on the range of high impact economic events such as the U.S. CPI and U.K. GDP, which are due to come out during the day.  There was no macroeconomic release from the European side, and as of the American side, the Final Wholesale Inventories at 19:00 GMT, came in favor of Dollar as 0.2% against expected 0.4%.  However, the JOLTS Job Openings with 7.05M against 7.35M expectations weighed U.S. dollars. So, the data release from the United States had almost null-effect on EUR/USD. Economic Calendar –    U.S. CPI and U.K. GDP Ahead      BTC/USD – Daily Analysis Bitcoin (BTC) soared 5.1% to trade at the highest price in three weeks following the Federal Reserve (Fed) remarks it would issue money to grow the volume of bank reserves – seen as a move by the U.S. central bank that could trigger inflation. Moreover, the speculation that SEC might allow ETF employment by Bitwise is feeding confidence that more investors could allot funds to the cryptocurrency. Lately, the Bitcoin has undergone an abrupt drop in late September, dropping from over $10,000. While the monthly futures contracts of BTC’s first week of trading, it succeeded in earning just $5 million of cumulative volume, frustrating industry watchers who had expected a higher uptake from large institutional traders. BTC/USD – Daily Technical Levels Support    Resistance  7,671.27     8,489.78 7,281.7       8,918.72 6,463.19    9,737.23 Pivot Point 8,100.21 BTC/USD – Daily Forecast The BTC/USD has also

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Daily F.X. Analysis, Oct 09 – Top Trade Setups In Forex – FOMC Meeting Minutes In Focus! 

The greenback slipped against the safe-haven Japanese yen on Tuesday, urged by repeated worries about trade. Still, the dollar rose against other currencies as Federal Reserve Chair Jerome Powell abstained from performing to more rate reductions even following data revealed an astonishing decline in U.S. producer inflation. The European Commissioner President Jean Claude Juncker said that the U.K. was Blaming the failure of negotiations on the European Union, but the explanation should be given by British camp because the original sin was on Island and not on the continent. He further said that in a scenario of No-Deal Brexit, nobody would come out as the winner, and the U.K., along with E.U., would face a decline in economic growth. Today, the focus stays in the FOMC meeting minutes from the U.S. Federal Reserve.  Economic Calendar –   FOMC Meeting Minutes In Focus         BTC/USD – Daily Analysis The leading cryptocurrency Bitcoin has slightly traded lower from $8,183 to $8,178 so far. The sellers succeeded in edging out the buying trades this Tuesday. Bitcoin price dropped from $8,215.70 to $8,180.  The Bitcoin is also trading under pressure due to the U.S. government opposition to Bitcoin. The resistance of the U.S. on Cryptocurrencies have become evident since Donald Trump joined the White House.  At the beginning this year, U.S. President Trump discussed shockwaves during the bitcoin and cryptocurrency business while he tweeted a cruel attack on Facebook’s bitcoin rival projects, marking it and bitcoin “unregulated crypto assets.” BTC/USD – Daily Technical Levels

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Daily F.X. Analysis, Oct 08 – Top Trade Setups In Forex – US PPI Ahead! 

The greenback was little changed versus the basket of currencies on Monday as traders expected the U.S.-China trade discussions following in the week for evidence to the state of the extended trade war between Washington and Beijing, even as outcomes of an agreement seemed low. Overall, the trader’s appetite for risk was thin on Monday following a Bloomberg story stated that Chinese officials were unwilling to consent to U.S. President Donald Trump’s extensive trade agreement. On Monday, in response to the criticism of Fed’s Monetary Policy from U.S. President Trump, the Fed Chair Powell highlighted the importance of Independent Central Bank, which also made a fall in the prices of EUR/USD. Economic Calendar –   US PPI Ahead      BTC/USD – Daily Analysis The BTC/USD finished the week lower; in fact, it opened with a dramatic bearish gap on Monday, signaling sharp bearish bias among traders. The bullish reversal came on bullish fundamentals.  The SEC (Securities and Exchange Commission) has begun an Oct 13 deadline for signing a bitcoin-based exchange-traded stock from Bitwise Investments, a movement that could indicate a significant breakthrough in bitcoin’s long-term growth story.  The leading cryptocurrency has been volatile this year, dropping by more than 20% in one week in late September to its softest level since July amid increasing uncertainty and ambiguity. Bitcoin placed its 2019 peak of over $11,000 in June, as per the cryptocurrency exchange Bitstamp. BTC/USD – Daily Technical Levels Support   Resistance  7,671.27    8,489.78 7,281.7      8,918.72 6,463.19   9,737.23 Pivot Point

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Daily F.X. Analysis, Oct 07 – Top Trade Setups In Forex – Trading Post NFP Shocks! 

  The greenback slid on Friday following the U.S. labor market report that underperformed forecasts though was stable overall, as traders prevailed careful about political uncertainty in the United States and continuing trade talks with China.  The greenback settled session peak versus the yen and Euro following the job announcement, after trading weaker for most of the session.  The Unemployment rate of the U.S. came as 3.5% – a 50-Years lowest; it put some pressure over EUR/USD prices on the last day of the week. However, the U.S. Nonfarm Payrolls came as 136000 against 145000 expected. Economic Calendar –   Post NFP Shocks      BTC/USD – Daily Analysis After undergoing a long time of sideways trading below $8,000 regions, Bitcoin (BTC) has once again prolonged its bearish momentum and has started moving with a selling bias today. It has violated the 8,000 support areas to trade below this level on most major exchanges. At the time of review, the BTC/USD is trading in a bearish tone, falling around 1% at its aggregated price of $7,825. The 50 periods EMA is suggesting bearish bias as the Bitcoin is holding below 8,100, the resistance extended by EMA.  The RSI and Stochastics hold in the selling zone. Therefore, the bearish breakout at 7,700 may drive further sell-off in the market today.  BTC/USD – Daily Technical Levels Support   Resistance  7,671.27     8,489.78 7,281.7       8,918.72 6,463.19    9,737.23 Pivot Point 8,100.21 BTC/USD – Daily Forecast It looks like long holidays in China are causing

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Daily F.X. Analysis, Oct 04 – Top Trade Setups In Forex – Brace for U.S. NFP Report! 

The U.S. dollar continues to trade lower versus peers in the wake of ongoing geopolitical tensions and the trade war between the U.S. and China. Lately, the U.S trade representative, Robert Lighthizer, said that the World Trade Organization has confirmed that after 15 years of litigation, the United States was entitled to impose countermeasures in response to EU’s illegal subsidies. Moreover, they expect a negotiation with the European Union in terms which will be beneficial for American Workers. Besides, the administration of Donald Trump announced to impose 25% tariffs on cheese, French wine, Scotch and Irish whiskeys, olives, business suits & sweaters, and a 10% tariff on European-made Airbus, as a punishment for illegal aircrafts subsidies. On Friday, the focus mostly remains on the U.S. Non-farm payroll data, which is scheduled to be released during the New York session.  Economic Calendar –   Brace for U.S. NFP Report     BTC/USD – Daily Analysis The BTC/USD has further increased its period of consolidation as it remains trading in narrow ranges near $8,200 level, which seems to be a critical support level. The bulls of Bitcoin demand to resist crypto to trader higher in the short-term. Technically, the BTC/USD is creating a sort of double bottom, but this event will only be confirmed if the BTC can place an upwards move from its fresh lows. The leading crypto pair has formed a Doji candle, which signifies indecision among investors and the same time holds below the 200-day moving average, nullifying the corrective surge

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Daily F.X. Analysis, Oct 03 – Top Trade Setups In Forex – ISM Non-Manufacturing PMI Ahead! 

A day before, the U.S. dollar fell to a one-week low versus the bucket of peers over worries regarding global economic slowdown. Sellers mostly appeared in response to a sharp decline in U.S. manufacturing activity which hike concerns over the economic growth and if further rate cuts are needed to accommodate the slowing economy. Besides, the United States and China have previously increased tariffs on each other’s goods which is also fueling the risk of recession and generated significant central banks to loosen monetary policy.  Besides this, the possibility that Europe will answer in kind to U.S. tariffs is anticipated to promote concerns that global extension is set for an extended duration of stagnation. Economic Calendar –  ISM Non-Manufacturing PMI BTC/USD – Daily Analysis On the fundamental side, a Russian scientist has undergone a penalty for mining Bitcoin at a private atomic facility. Denis Baykov has been directed to give 450K rubles or approximately $6.9K for his engagement in the project. The event is the second of its class proclaimed this year. Beginning in 2019, scientists at a Ukrainian atomic energy plant were discovered to be practicing its equipment to mine Bitcoin.   Bitcoin price is trading neutral, adding around +89.9 dollars or +1.09% during the Asian session. The BTC/USD is trading above 8,190 level, which is extending reliable support while the 50 periods EMA is continuing resistance at 8,400.  The bearish breakout under $8,000 can prolong selling till $7,900. The relative strength index (RSI) is staying in the buy zone,

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