Daily F.X. Analysis, November 4– Top Trade Setups In Forex – NFP Supports the Dollar!  

On Monday, the U.S. dollar seems to trade with a neutral bias following better than expected economic data. The Unemployment Rate ticked higher 3.6% from the previous month’s 3.5%. And Average Hourly Earnings also dropped to 0.2% from the expectations of 0.3%. The decline in Manufacturing Business activity from the United States put pressure on the U.S. Dollar while the ISM Manufacturing PMI dropped for the month of October to 48.3 from expected 49.0. Economic Calendar -NFP Supports the Dollar!       BTC/USD – Daily Analysis The Bitcoin soared to trade higher to drop lower from high of $9,512 to sell at $9,170. The BTC/USD has fallen 2% on Tuesday, and after the beginning of the day, the BTC is consolidating within a short range of 9400 – 8985. One of the reasons Bitcoin is demanded is its potential for freedom from the banking system, which is clearly in trouble. Banks keep their clients to ransom when services are drawn. This is precisely what is passing now in China as residents hurry to withdraw their savings. BTC/USD – Daily Technical Levels Support    Resistance  9,157.11        9,627.45 8,889.01      9,829.69 8,418.67     10,300.03 Key Trading Level: 9,359.35 BTC/USD – Daily Forecast The technical side of the BTC/USD hasn’t changed over the weekend as it continues to trade below the 23 .6% Fibonacci support level of 9,345. The leading cryptocurrency pair is now likely to gain support above 38.2% Fibonacci support level of 8,985. The bearish breakout of

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Daily F.X. Analysis, November 1– Top Trade Setups In Forex – Get Ready for NFP! 

On Friday, the forex traders are anxiously waiting for the U.S. labor market data, which is due later in the day. The Unemployment rate for October came as 7.5% higher than forecasted 7.4% and weighed on single currency Euro. At 16:00 GMT, the Italian Prelim GDP also showed growth to 0.1% from the expectations of 0.0%. The growth in CPI and GDP from Eurozone gave strength to Single Currency on Thursday but, Weak German Retail Sales and Increased Unemployment rate from zone put pressure on European Currency. Economic Calendar – Get Ready for NFP     BTC/USD – Daily Analysis The Bitcoin soared to trade higher to drop lower from high of $9,512 to sell at $9,170. The BTC/USD has fallen 2% on Tuesday, and after the beginning of the day, the BTC is consolidating within a short range of 9400 – 8985. One of the reasons Bitcoin was conceived was to grant freedom from the banking system, which is clearly in trouble. Banks keep their clients to ransom when services are drawn. This is precisely what is passing now in China as residents hurry to withdraw their savings. BTC/USD – Daily Technical Levels Support     Resistance  9,157.11        9,627.45 8,889.01      9,829.69 8,418.67     10,300.03 Key Trading Level: 9,359.35 BTC/USD – Daily Forecast On Friday, the BTC/USD continues to hold below the 23 .6% Fibonacci support level of 9,345. The leading cryptocurrency pair is now likely to gain support above 38.2% Fibonacci support level of 8,985.

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Daily F.X. Analysis, October 31– Top Trade Setups In Forex – Fed Rate Cut Plays 

 In FOMC held on Wednesday, fed decided to cut its interest rates by 25 basis points and keep them till a significant move up in inflation.  It weighed on U.S. Dollar and reversed the EUR/USD movement towards the upside.  Fed made a 25 basis point cuts in its interest rates and said that it would pause for further easing until inflation goals are met. The U.S. Dollar suffered amid the Fed Rate cut against its peer currencies.  Economic Calendar – Fed Rate Cut Plays     Economic Calendar by TradingView   BTC/USD – Daily Analysis The Bitcoin drops lower from Tuesday’s high of $9,512 to trade at $9,170 by news time. The BTC/USD has fallen 2% both on a day-to-day basis and since the inception of the day, moving inside the short-term bearish trend amid growing volatility.  This momentum was undeniably bullish. Nonetheless, not everyone is convinced that the bounce places Bitcoin in the decisively bullish area, as there prevails some evidence to suggest that the trend is quite negative. The BTC/USD mostly traded the same technical levels due to a lack of volatility in the leading crypto pair. It’s primarily due to the Federal Reserve rate cut decision, which drove most of the trading volume in the gold, stock market, and the U.S. competitor currencies.  BTC/USD – Daily Technical Levels Support    Resistance  9,157.11      9,627.45 8,889.01    9,829.69 8,418.67   10,300.03 Key Trading Level: 9,359.35 BTC/USD – Daily Forecast The BTC/USD lately violated the 23.6% Fibonacci support level of 9,345,

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Daily F.X. Analysis, October 30– Top Trade Setups In Forex – FOMC & FED In Highlights! 

On Wednesday, the forex trading is all about FOMC, and Federal Reserve Rate cut decisions. The renewed optimism from Brexit headlines supported the upward trend for Euro. The weak Consumer Confidence from the United States for September added in the upward trend of EUR/USD on Tuesday.   Besides, the Bank of Canada is also expected to release monetary policy decisions, but it’s not likely to change it’s rate today.  Economic Calendar – FOMC & FED In Highlights      BTC/USD – Daily Analysis During the previous weekend, the BTC/USD exhibited a historic move: just in 24 hours, the leading cryptocurrency surged by 42%, to trade around $10,500 after dropping as low as $7,300. This labeled Bitcoin’s fourth-largest daily action in its history and the most significant move higher since 2011.  This movement was undeniably bullish. Nevertheless, not everyone is persuaded that the bounce places Bitcoin in the decisively bullish region, as there exists some proof to propose that the trend is still negative. BTC/USD – Daily Technical Levels Support    Resistance  9,157.11       9,627.45 8,889.01      9,829.69 8,418.67    10,300.03 Key Trading Level: 9,359.35 BTC/USD – Daily Forecast The BTC/USD hasn’t changed much so far as the formation of a Doji and Spinning Top pattern beneath the 10,000-mark is keeping the BTC/USD prices in check. For now, the BTC/USD seems to face support around 8,900 (38.2% Fibonacci retracement) and 8,600 the 50% Fibo level. Whereas, the immediate resistance stays at 9,470 area and 9,800. On the upper side, the bullish

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Daily F.X. Analysis, October 29 – Top Trade Setups In Forex – C.B. Consumer Confidence Eyed! 

A day before on Monday, the U.S. dollar dropped ahead of an expected Federal Reserve rate cut later this week, whereas the Brexit delay improved boosting the Sterling.  The U.S. dollar index, which gauges the dollar’s health versus a basket of six leading currencies, was depressed by 0.1% to 97.558. On Wednesday, the U.S. Fed is anticipated to lower rates for the third time this year. Still, traders are waiting for remarks at a central bank press conference to obtain more info if the policymakers proceed to loosen monetary policy. Today, investor’s focus stays on the U.S. Consumer Confidence figure, which may help traders capture some price action in the U.S. dollar pairs.  Economic Calendar – C.B. Consumer Confidence Eyed! Economic Calendar by TradingView   BTC/USD – Daily Analysis The leading cryptocurrency Bitcoin gained support on Monday as it soared to a one-month high over the weekend following China’s president comments. Mr. Xi Jinping stated the world’s second-biggest economy should expedite the growth of blockchain technology. During the previous week, there was a dramatic rally in bitcoin over the $7,500 and $8,000 resistances versus the Greenback. The BTC even climbed over the $9,500 and $10,000 levels ere taking a bearish retracement. Later, the price corrected below the $9,500 support and the $9,000 pivot place. Nevertheless, the drop was contained beneath $9,000, and the rate persisted well over the 100 hourly simple moving average. BTC/USD – Daily Technical Levels Support   Resistance  9,265.43     9,692.29 9,054.6       9,908.32 8,627.74   10,335.18 Key Trading

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Daily F.X. Analysis, October 28 – Top Trade Setups In Forex – NFP Week Ahead! 

The dollar remained weak due to the possibility of the third rate cut by the Fed this month. In addition to the downward movement of EUR/USD, the possibility of the German Economy falling into recession is still on board, and it has given a continuous downward pressure to Euro currency. PM Boris Johnson wants to leave on the said deadline of 31st October but has failed to achieve it due to the UK Parliament rejection over his provided timetable, which was very short for reviewing the proposed agreement of Brexit by Johnson.  Economic Calendar – Parliament Brexit Vote   BTC/USD – Daily Analysis Lately, there were massive swing movements in BTC from the $7,500 support versus the US Dollar. The BTC/USD pair returned more than 20% and slashed much resistance near $8,500 and $9,000. Furthermore, the BTC/USD candles closed above the $8,500 hurdle area and the 100 simple moving average (4-hours). Lastly, the price increased over the $10,000 resistance and traded near to the $10,600 resistance zone. The BTC/USD exhibited dramatic buying on Friday and during the weekend. The leading crypto pair surged to trade below 10,000 psychological trading levels. On the 4 hourly charts, the BTC/USD is forming a Doji candle, but it’s still not concluded yet.  BTC/USD – Daily Technical Levels Support    Resistance  7,156.7       7,864.28 6,876.63    8,291.79 6,169.05     8,999.37 Pivot Point 7,584.21 BTC/USD – Daily Forecast We need to keep an eye on it as the closing Doji or Spinning Top candle below

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Daily F.X. Analysis, October 25 – Top Trade Setups In Forex – German IFO Business Climate Up Next! 

  A day before, the ECB Statement, which was released at 16:45 GMT, mentioned that European Central Bank voted to maintain its interest rates unchanged in October Meeting. It was as expected because the bank would hold rates at present or lower levels until near Inflation Goal.  Bank would continue to purchase bonds for as long as needed and would only stop the bond purchases shortly before the raising of rates. ECB would reinvest the Quantitative Easing debt for an extended period after the 1st rate hike. It also confirmed the beginning of 20Billion Euro worth Bond purchases at the starting of November. Now investors eye German IFO Business Climate figures during the European session.  Economic Calendar – German Ifo Business Climate     BTC/USD – Daily Analysis Bitcoin lately slipped beneath a long-term consolidation pattern to indicate that a downtrend is in process, and has just dropped beneath a short-term bearish correction formation. Facebook Inc CEO Mark Zuckerberg admitted on Wednesday that the company’s proposed digital currency Libra was a “risky project.” He merely tried to convince skeptical U.S. legislators that it could reduce the cost of electronic payments and extend the global financial system to more people. The value of BTC/USD, the world’s best-known virtual currency, plunged over 7% on Wednesday to $7,412. This is the lowest level since May mid. It was not instantly apparent why the price, which began its slide around 13:40 GMT, had dropped so sharply. Bitcoin’s price on the Luxembourg-based Bitstamp exchange was last

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Daily F.X. Analysis, October 24 – Top Trade Setups In Forex – ECB Rate Decision Up Next

The Sterling and single currency Euro both gained momentum against the U.S. dollar on Wednesday as European Union administrators postponed a verdict on whether to grant Britain a three-month Brexit extension. UK’s PM Boris Johnson presented a proposal to rush the timeline to pass legislation for an orderly Brexit on Tuesday. But the deadline got rejected through voting in UK Parliament, which means that the Brexit process would not be completed in time for UK exiting EU on 31st October.  German 10-year Bond yields at 14:34 GMT, dropped to weekly lows near -0.42% and weighed on the single currency – Euro and caused a drop in EUR/USD in early trade session on Wednesday. At 18:15 GMT, the Consumer Confidence from Eurozone came in as -8 for the month of September against -7 expectations. The decline in confidence of consumers also weighed on EUR/USD on Wednesday. Economic Calendar – ECB Rate Decision Up Next     BTC/USD – Daily Analysis Facebook Inc CEO Mark Zuckerberg admitted on Wednesday that the company’s proposed digital currency Libra was a “risky project.” He merely tried to convince skeptical U.S. legislators that it could reduce the cost of electronic payments and extend the global financial system to more people. The value of BTC/USD, the world’s best-known virtual currency, plunged over 7% on Wednesday to $7,412. This is the lowest level since May mid. It was not instantly apparent why the price, which began its slide around 13:40 GMT, had dropped so sharply. Bitcoin’s price on

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Daily F.X. Analysis, October 23 – Top Trade Setups In Forex – Parliament Brexit Vote Rejected! 

The U.S. dollar gains bullish momentum on the rejection of Brexit Deal via Parliament Vote. In voting, the government deal for Brexit was approved, but the schedule was rejected. In response to which PM Boris Johnson said that the first consequence of this action by legislation would be No-Deal Brexit. After the threats of no-deal Brexit from PM Boris Johnson, Donald Tusk, the President of the European Council, said that E.U. was considering granting an extension to the U.K. after the letter from Johnson was received.  Johnson then claimed that he would pause the legislation and go for a No-Deal Brexit on the said deadline of October 31. Let’s see how Boris Johnson plays now.  Economic Calendar – Parliament Brexit Vote Rejected!    Economic Calendar by TradingView   BTC/USD – Daily Analysis The leading cryptocurrency, Bitcoin, fell sharply below 8,000 level after the total crypto market cap declined to escalate beyond the $220.0B resistance and sank lately. The BTC/USD price plunged over 3%, and it is presently trading beneath the $8,000 support zone. Alongside, the Litecoin (LTC) price is dropping nearly 4%, and it is advancing to the $52.00 support level.  The Trump government began to discourage the bitcoin bubble of 2017 by supporting the initiation of futures products, a retired executive announced on Monday. With this, the threats of the bitcoin bubble burst loom around the corner, and consequently, we noticed sell-off from a certain amount of traders.  BTC/USD – Daily Technical Levels Support    Resistance  7,822.83    8,079.36

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Daily F.X. Analysis, October 22 – Top Trade Setups In Forex – Canadian Elections, Justin Trudeau Wins! 

Justin Trudeau was on track to get a second session as Canada’s prime minister in an election viewed as a vote on the Liberal leader and his four-year-old government following a string of scandals. After the closing of voting polls, Canadian broadcasters announced a Liberal minority government, which implies Trudeau will operate with other parties to rule. The notable progress of Brexit and the US-China trade deal has decreased uncertainty from the market and supported Euro against the US Dollar last week. The pair showed remarkable growth in the previous week, but it moved in a downward trend at the beginning day of this week. Economic Calendar – Canadian Elections, Justin Trudeau Wins!     BTC/USD – Daily Analysis Bitcoin has soared over the $8,000 price mark during the Asian session despite showing symptoms of recovery in previous hours. The world’s biggest cryptocurrency place an intraday low of $7,950, before making its way to its current trading price of around $8,216. BTC is recording a surge of 3.73% in the past 24 hours. A couple of days ago, the 18th million BTC was mined, devising the world with just 3 million specimens to mine, which was sufficient cause for crypto-skeptic Peter Schiff to allege that Bitcoin’s fate “looks horrible” and that it is merely a subject of time for the most common cryptocurrency to undergo a “rapid drop down to $4,000 or lower!” BTC/USD – Daily Technical Levels Support    Resistance  7,822.83     8,079.36 7,694.36     8,207.42 7,437.83     8,463.95

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