Daily F.X. Analysis, November 11– Top Trade Setups In Forex – Risk-off Sentiment! 

The U.S. Dollar Index climbed to the highest level since October 14, rising 0.2% on the day to 98.35. The UOM (University of Michigan) consumer sentiment index placed 95.7 (preliminary) for November, up from 95.5 in the prior reading. European stocks were widely bearish, with the Stoxx Europe 600 dropping 0.3%. Germany’s DAX slipped 0.5%, the U.K.’s FTSE 100 dropped 0.6%, while France’s CAC was little changed. U.S. government bond prices were stable, as the benchmark 10-year Treasury yield was flat at 1.93%. The U.S. Dollar index found on the 3-weeks highs of 98.40, getting support from the United States and China trade uncertainty and Hong Kong political protest as well. Economic Calendar – UK GDP Numbers in Highlights      BTC/USD – Daily Analysis The stronger dollar leads the BTC/USD prices around 8,600 low on Friday. The sharp sell-off came after the BTC/USD violated the symmetric triangle pattern on the hourly chart. During the early Asian session, the BTC/USD has opened higher with a gap as investors seem to make profit-taking at the beginning of the new week. The BTC/USD extended its bearish turn on Thursday, hardly keeping support over $9,200 as market analysts stay sober regarding the future. The figures from Coin360 confirm BTC/USD is dropping 1.6% on the day, turning $9,250 after an unexpected dip observed markets bounce off $9,200. The BTC/USD violated the support level of 9,250, which lead its prices towards our forecasted level of 9,130 and even below this level to place a low

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Daily F.X. Analysis, November 8 – Top Trade Setups In Forex – Trade Deal Boosts Risk Appetite! 

The U.S. Dollar Index kept trading within a tight range on Thursday, closing flat on the day at 97.95. The U.S. indices gained traction on Thursday, as market sentiment was boosted by reports that the U.S. and China would roll back the additional imports tariffs when the phase one trade deal is signed.  The Dow Jones Industrial Average dropped 182 points (+0.7%) to 27,674, the S&P 500 added 8 points (+0.3%) to 3,085, and the Nasdaq Composite rose 23 points (+0.3%) to 8,434. Regarding U.S. economic data, initial jobless claims fell to 211,000 for the week ending Nov. 2 (215,000 estimated) from 219,000 in the prior week. Later today, economists expect the University of Michigan Consumer Sentiment Index to be flat on the month at 95.5 in November Economic Calendar – Canadian Figures in Focus    Economic Calendar by TradingView   BTC/USD – Daily Analysis The BTC/USD extended its bearish turn on Thursday, hardly keeping support over $9,200 as market analysts stay sober regarding the future. The figures from Coin360 confirm BTC/USD is dropping 1.6% on the day, turning $9,250 after an unexpected dip observed markets bounce off $9,200. The BTC/USD violated the support level of 9,250, which lead its prices towards our forecasted level of 9,130 and even below this level to place a low of 9070. The BTC/USD soon recovered it’s earlier losses to close the day around 9202.  BTC/USD – Daily Technical Levels Support     Resistance  9,157.11        9,627.45 8,889.01      9,829.69 8,418.67   

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Daily F.X. Analysis, November 7 – Top Trade Setups In Forex – Monetary Policy Decisions on Cards! 

The Dollar Index gained 0.1% on the day to 97.98. Federal Reserve Bank of Chicago President Charles Evans said, “the economy is in a good place now,” after the central bank’s third rate cut this year. Revived believes the world’s two biggest markets were taking measures towards settling their 16-month trade war have driven global stocks near to record highs and Wall Street to an all-time peak. That risk-on sentiment is keeping the greenback supported. The dollar index seems to place its initial monthly loss since June. However, it is still bullish around 2% year-to-date. Forex traders have bought into the confidence and cut their bullish positions on the U.S. dollar, which is why we see a slightly bearish trend in the U.S. dollar lately.  Economic Calendar – Eurozone’s Data Ahead      BTC/USD – Daily Analysis The BTC/USD hasn’t changed much since yesterday as it continues to trade with in the same technical ranges. The BTC/USD has crossed above 23.6% Fibonacci resistance area of 9,345 level. Closing of candles above this level is suggesting a new trading range, which is likely to keep the BTC/USD in between 9,340 – 9,545 trading range.  The Bitcoin price (BTC) finished the week around $9,207, under 3.66%. Despite surprisingly weak volatility during the weekend, the bulls assisted in holding Bitcoin price over $9,000. At the moment, the BTC/USD continues to consolidate above $9,000 mark. The BTC/USD has crossed above 23.6% Fibonacci resistance area of 9,345 level. Bullish bias seems strong today, and the

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Daily F.X. Analysis, November 6– Top Trade Setups In Forex – Dollar Strengthens Over Trade Deal Sentiments!

The U.S. dollar gained traction on Tuesday, as data suggested that U.S. service sector growth in October was stronger than expected. The Dollar Index rose 0.4% on the day to 97.91. Media reported that the Chinese government is asking the U.S. to remove the tariffs imposed on 110 billion dollars of goods imports in September and to lower the 25% duty on 250 billion dollar imports imposed last year. The ISM non-manufacturing area index expanded to 54.7 from 52.6 in September, exceeding the market forecast. The rebound is a welcome token for greenback buyers as a reduction in the index would have advised that pain in trade war-hit companies was spoiling the service sector, along with the manufacturing sector.  On top of Sino-U.S. trade concerns, the market is responding to signs of U.S. economic health at the time. Economic Calendar – Eurozone’s Data Ahead      BTC/USD – Daily Analysis The Bitcoin price (BTC) finished the week around $9,207, under 3.66%. Despite surprisingly weak volatility during the weekend, the bulls assisted in holding Bitcoin price over $9,000. At the moment, the BTC/USD continues to consolidate above $9,000 mark. The BTC/USD hasn’t changed much since yesterday as it continues to trade with in the same technical ranges. The BTC/USD has crossed above 23.6% Fibonacci resistance area of 9,345 level. Closing of candles above this level is suggesting a new trading range, which is likely to keep the BTC/USD in between 9,340 – 9,545 trading range.  BTC/USD – Daily Technical Levels Support 

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Daily F.X. Analysis, November 5– Top Trade Setups In Forex – U.S. Non-Manufacturing Data Ahead! 

The U.S. Dollar Index stabilized after a five-day decline, closing up 0.1% on the day to 97.21. The euro lost 0.3% to $1.1128. The Eurozone, Sentix Investor Confidence Index, bounced to -4.5 in November (-13.8 expected) from -16.8 in October.  The British Pound dropped 0.4% to $1.2889. The Markit U.K. Construction PMI rebounded to 44.2 in October (44.1 expected) from 43.3 in September. Investors will focus on the October Services PMI due later today (49.7 expected). The USD/JPY rose 0.5% to 108.71. Lastly, the USD/CAD slipped 0.1% to 1.3153. Later today, Canada’s October trade balance will be reported (0.6 billion Canadian dollars deficit expected). During the U.S. session, the Institute of Supply Management (ISM) is due to post its non-manufacturing index for October (53.4 expected). Economic Calendar -U.S. Non-Manufacturing Data Ahead!      BTC/USD – Daily Analysis The Bitcoin price (BTC) finished the week around $9,207, under 3.66%. Despite surprisingly weak volatility during the weekend, the bulls assisted in holding Bitcoin price over $9,000. At the moment, the BTC/USD continues to consolidate above $9,000 mark. Today, Bitcoin has extended to gain support at the 200-days moving average, and that’s been extending support to the BTC/USD prices since it was broken as resistance. Let’s take a look at the technical aspect…  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 Unlike the past few days, the Bitcoin showed some progress yesterday. The BTC/USD has crossed

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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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