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

Daily Market Analysis October 10, 2019 0

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

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

Daily Market Analysis October 9, 2019 0

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

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

Daily Market Analysis October 8, 2019 0

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

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

Daily Market Analysis October 7, 2019 0

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

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

Daily Market Analysis October 4, 2019 0

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

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

Daily Market Analysis October 3, 2019 0

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,

Daily F.X. Analysis, Oct 02 – Top Trade Setups In Forex – US ADP Nonfarm Payroll Eyed!

Daily Market Analysis October 2, 2019 0

A day before, the U.S. dollar fell sharply versus most major currencies, after falling from a two-year peak during data revealed the U.S. manufacturing activity shrank at the quickest velocity in more than a decade in September. The weak manufacturing survey from the United States, along with other countries around the world gave a boost to the current expectations of further interest rate cuts from central banks. On the other hand, U.S. Dollars on Tuesday fell across the board on the release of weak manufacturing PMI from the Institute of Supply Management in the United States. The data showed that PMI has dropped to 47.8 points against 49.1 expectations. Economic Calendar – ADP Nonfarm Payroll Eyed BTC/USD – Daily Analysis Bitcoin price is consolidating mostly in a red zone, losing around 0.50% in the second half of the trading session. The BTC/USD price is gaining significant support at $7500, barring a free-fall. Price action has created a bearish flag formation on the daily chart, directed to a possible breakout south. On the smaller timeframe, the Bitcoin price action remained slightly bearish below 38.2% Fibonacci trading level. The 50 periods EMA is also extending resistance at the same level. On the other hand, the bearish breakout below $8,000 can extend sell0-off until $7,900. The relative strength index (RSI) has entered the overbought zone and may drive the bearish trend below 8100 today. BTC/USD – Daily Technical Levels Support Resistance 7,727.14 8,447.94 7,372.57 8,814.17 6,651.77 9,534.97 Pivot Point 8,093.37 BTC/USD –

Daily F.X. Analysis, Oct 01 – Top Trade Setups In Forex – RBA Cash Rate Focused!

Daily Market Analysis October 1, 2019 0

On Monday, China warned the Trump administration against such actions because they could affect the upcoming high-level trade talks in Washington between US-China Officials. In response, Peter Navaro, White House trade adviser, dismissed the reports and said that they are “fake news. The U.S. Dollar Index rose and placed a 4-weeks high on Monday and moved to 99.113. The robust U.S. Dollar made Gold prices to fall below $1500 and set a 2-months low of $1464. Today, all eyes stay on the RBA Cash Rate as the Reserve Bank of Australia’s governor, Philip Lowe is very likely to cut the interest rates from 1.00% to 0.75%. Lately, the Reserve Bank of Australia’s governor, Philip Lowe, provided confusing directions about the policy. By the time of writing this, the RBA has already cut the interest rate to 0.75% from 1%; the Aussie is still supported as investors have already priced in 25 base point rate cut. Economic Calendar – RBA Rate Out BTC/USD – Daily Analysis Bitcoin price action continued mostly stable over the weekend session. The ballooning selling activities thwarted an attempt to break above $8,400. At the same time, the falls beneath $8,000 were defended above $7,900. The Bitcoin has already placed a high of $8,066, following an opening of $8,052. The hourly chart displays the price over the descending trendline resistance. Nevertheless, the immediate bullish trend is capped by moving average resistance. The 50 SMA is limiting bullish trend at $8,510, and the 100 SMA currently stands

Daily F.X. Analysis, Sept 30 – Top Trade Setups In Forex – British Fundamentals In Focus!

Daily Market Analysis September 30, 2019 0

The dollar showed an increase in U.S. Treasury Yields last week due to the possibility of the end of US-China Trade war. That came after the comment of President Trump on upcoming US-China Trade talks in October. Another factor adding in the U.S. Dollar Strength was a report of a possible ceasefire in Yemen by Saudi Arabia, created hope for a reduction in prevailing political tensions in the Middle East. On Sunday, Boris Johnson vowed that he would continue to stay as Prime Minister even if he failed to secure a deal to leave the European Union. He also said to his party that he would deliver Brexit on Oct 31 with or without any agreement. Economic Calendar – U.K. GDP Figures In Focus BTC/USD – Daily Analysis The leading cryptocurrency continues it’s bearish momentum following much inkling of a critical move. Bitcoin has undoubtedly taken a direction for the short-term dumping within the asymmetrical triangle support. Prevailing market price broke the $8,000 support and now looks poised to drop further. Bitcoin is now in a new trading range of 8200 – 7700. The 50 periods exponential moving average on the 4-hour chart is signaling selling trend in the BTC/USD. One of the leading technical tool, the Relative Strength Index (RSI) is steady at 77, entering in the bullish zone, suggesting odds of the buying trend in the BTC/USD. The BTC/USD is now having a current trading range of 8200 – 7720. The bearish breakout of 7700 can

Daily F.X. Analysis, Sept 27 – Top Trade Setups In Forex – Dollar Keeps On Strengthening!

Daily Market Analysis September 27, 2019 0

On Friday, the U.S. dollar climbed to a three-week peak versus the basket of six major currencies. Most of the bullish trend was boosted by tightness in the money markets of the United States. Whereas traders came out of their positions in Euro due to intensified political tightness, and a depressing economic outlook pondered on the Sterling and Euro. Consequently, the dollar index, which gauges the buck’s power against other currencies, traded bullish adding 0.16% at 99.2, its highest since Sept 3. Get ready for Economic Calendar – Core Durable Goods Orders Up Next BTC/USD – Daily Analysis The leading cryptocurrency continues it’s bearish momentum following much inkling of a critical move. Bitcoin has undoubtedly taken a direction for the short-term dumping within the asymmetrical triangle support. Prevailing market price rests on $8,000 support but looks poised to drop further. Bitcoin is now in a new trading range of 8200 – 7720. The 50 periods exponential moving average on the 4-hour chart is signaling selling trend in the BTC/USD. The Relative Strength Index (RSI) is trading at 77, entering in the bullish zone, suggesting odds of the buying trend in the BTC/USD. The BTC/USD is now having a current trading range of 8200 – 7720. The bearish breakout of 7700 can extend bearish rally until 7425. BTC/USD – Daily Technical Levels Support Resistance 7,727.14 8,447.94 7,372.57 8,814.17 6,651.77 9,534.97 Pivot Point 8,093.37 BTC/USD – Daily Forecast The BTC/USD continues to trade lower amid a stronger dollar. The

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