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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Daily F.X. Analysis, October 21 – Top Trade Setups In Forex – Welcome to Fresh Week! 

The financial markets continue to trade risk-off sentiment after the Brexit failed to pass the parliament vote. During the weekend, the Brexit remained in the limelight and would remain a significant driver of this pair movement at the start of this week. UK Parliament sat on Saturday and passed an amendment that required PM Boris Johnson to ask for 3rd extension for Brexit. Johnson was forced to write an extension letter to European Union after the majority of Parliament voted in favor of an amendment against his revised proposed Brexit deal. Economic Calendar – Eelection Day in Canada   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 Pivot Point 7,950.89 BTC/USD – Daily Forecast The BTCUSD has violated the sideways range during the weekend.

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Daily F.X. Analysis, October 18 – Top Trade Setups In Forex – U.K. & E.U. Agree on Brexit Deal! 

The European Union and the United Kingdom agreed on a proposed deal for Brexit on Thursday. However, Northern Ireland’s Democratic Unionist Party announced in a statement that they would vote against the deal on Saturday. After this statement, the traders lost interest in British Pound, and the demand shifted towards the Euro. Hence, EUR/USD rose to 6 weeks high on Thursday. According to the new deal agreement, Northern Ireland would legally remain in the United Kingdom’s customs territory. Which will allow Johnson to boast the country “whole & entire” had left the E.U.  But Ireland would remain in a single market of European Union for goods, and E.U.’s customs code would be enforced on products coming from the U.K. into Northern Ireland. Economic Calendar – U.K. & E.U. Reaches on Brexit Deal       BTC/USD – Daily Analysis Bitcoin is consistently getting weak, having lost nearly 2% on growing trading volumes yesterday. The leading cryptocurrency by market-rate dropped from $8,150 to $7,912 in the early U.S. trading hours on Wednesday before publishing a close at $7,996. The price slide strengthened the case for a retest of fresh lows near $7,750 put forward by Tuesday’s bearish “outside bar” candle.  The buyers need to push prices back over $8,300 immediately or risk allowing full market control to the sellers in the short term. 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 continues to

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Daily F.X. Analysis, October 17 – Top Trade Setups In Forex – U.K. & U.S. Fundamentals Ahead! 

The risk sentiment turned on after the series of positive news coming from the Brexit and Chian. Which eventually added bearish pressure on the safe-haven asset gold.   European Union gave the task to PM Boris Johnson of getting support from the Democratic Union Party of Ireland on Tuesday to secure a Brexit Deal before E.U. Summit, which is due on Thursday. The dollar gained bullish momentum after the Eurozone’s Final CPI from European Union showed a drop to 0.8% against 0.9% expectations and weighed on Euro. However, the Final Core CPI remained flat as expected 1.0% and supported Euro. At 14:33 GMT, the European Trade Balance showed growth to 20.3B against 18.6B expectations and supported the single currency Euro on Wednesday. Economic Calendar – U.K. & U.S. Events In Focus     BTC/USD – Daily Analysis Securities and Exchange Commission (SEC) of the United States is frequently demanding comments on a proposed exchange-traded fund (ETF) based nearby bitcoin and Treasury bonds. BTC/USD experienced a massively bearish Wednesday, wherein its rate dropped from $8,158 to $7,994, moving under the $8,000-level in the process. So far now, the price has dropped more to $7,975. The hourly analysis reveals to us that BTC/USD was trending horizontally ere it fell from $8,151.38 to $7,984 in merely in 2 hours.  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 has come out of its tight trading range of 8,115 – 8,340.

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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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