Daily F.X. Analysis, Sep. 23 – Top Trade Setups In Forex – ECB Draghi In Highlights! 

On Monday, the U.S. dollar is supported as the market’s appetite for risk cautiously restored following discussions in Washington between U.S. and China. Investors feel more confident about the market, primarily because the trade talks are described as “productive.” The greenback overtook against the safe-haven yen but trimmed lower against the trade-exposed forex currencies, for instance, the Australian and New Zealand dollars, which surged on the wary risk-on mood. Today’s one of the major highlights includes the ECB President Draghi Speech which may help us drive some movements in the market.  Economic Calendar – ECB Draghi Speech      BTC/USD – Daily Analysis During the previous week, there were big moves in BTC/USD which finally fell below the $10,400 resistance area against the U.S. Dollar.  The BTC/USD dipped distinctly beneath the $10,000 support level to test the $9,650 point.  Lately, the leading crypto pair bounced off over the $10,000 and $10,200 trading zones. Nevertheless, the price fought to shatter the $10,400 resistance zone and the 100 SMA.  Consequently, the BTC/USD formed a double top pattern of around $10,083 area and closed candles below this. Now the same level is driving the bearish trend in the BTC/USD.   BTC/USD – Daily Technical Levels Support   Resistance  10,054.17    10,218.93 9,977.28      10,306.8 9,812.52      10,471.56 Pivot Point 10,142.04 BTC/USD – Daily Forecast Despite volatile session, the BTC/USD continues to trade in the same trading range of 9297 – 10250. BTC/USD is trading at 9957 right now, with immediate support at

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Daily F.X. Analysis, September 20 – Top Trade Setups In Forex – Dollar Weakens Over Profit Taking! 

The U.S. Dollar kept trading within a tight range, as investors were divided on the U.S. interest-rate outlook. The Dollar Index slipped 0.2% on the day to 98.34 on Thursday, and it moved to 97.847, losing 0.2% for the day.  The British pound rose 0.4% to $1.2523 after media reported that European Commission President Jean-Claude Juncker expects a Brexit deal to be reached by October 31.  The Bank of England held its benchmark rate unchanged at 0.75% as expected, reiterating that the future rate path would largely depend on the outcome of Brexit. U.K. official data showed that retail sales fell 0.2% on month in August (expected to be flat). Economic Calendar – CAD Retail Sales Ahead    XAU/USD – Gold – Daily Analysis  On Wednesday when Federal Reserve cut the Interest rates by 0.25%, the Gold fell immediately. The Fed left traders with uncertainty about any further monetary easing as Fed Chairman Jerome Powell said that the cut was made to support the economy through weakened global growth and to boost the inflation and there was no guarantee over any further rate deductions.  Gold was supposed to move in bullish trend after the fed decision and interest rates cut should have weakened the greenback. However, the lack of commitment towards further monetary easing by the Federal Reserve gives strength to the US Dollar and put pressure on Gold, making it shortly after the news.  Two more Fed Policy meetings are remaining in October and December this year. The chances

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Daily F.X. Analysis, September 19 – Top Trade Setups In Forex – Three Rate Decisions in a Row! 

On Wednesday, the Greenback strengthened and traded around a seven-week high versus the yen, following the Federal Reserve slashes in the interest rates. The rate cut is done by a quarter of a percentage point, as anticipated, but gave an ambiguous viewpoint on future easing. On the other hand, the U.S. greenback reached session top against the yen following the Fed rate cute, standing in seven of the previous eight sessions. The U.S. Fed extended the nod to continuing global risks and “vulnerable” market investment and exports, therefore, the lowering interest rates by 25 basis points may help the U.S. economy getting a bit of stability.  On Thursday, we have monetary policy decisions due from the BOE, SNB, and BOJ. It’s going to be a busy day, so let’s get prepared for it.  Economic Calendar – BOE, BOJ and SNB Rate Deicsions     BTC/USD – Daily Analysis Bitcoin is yet nearby the supply-demand junction area of $10,200 – $10,400. This region also includes the two major moving average lines: The 50-days and the 100-days. In the event of a bullish breakout of the triangle discussed previously and moving average ranges $10,500, we can assume the next critical point to be $10,800. Above this, we may see BTC going towards $11,000 resistance level.  Let’s say, if Bitcoin plans to violate the 11K level, the same level may work as a support, instead of resistance.  On the bearish side, a decline of $10,200 (the prevailing price range) will carry Bitcoin to

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Daily F.X. Analysis, September 18 – Top Trade Setups In Forex – Fed Rate Decision In Focus! 

It’s a big day, traders. The market has waited for this day since ECB cut the interest rate and now we have Federal Reserve monetary policy meeting.  The U.S. dollar slipped in sideways trading on the verge of an anticipated cut in the U.S. interest rate by the Federal Reserve. Moreover, a drop in crude oil prices and stronger Euro are also weighing on the U.S. dollar.  Lately, the crude oil prices slumped nearly 6% on Tuesday following Saudi Arabia’s energy minister announced the Kingdom had wholly recovered its oil out. Consequently, the news managed to invert some of the dollar’s gains.  Economic Calendar – Fed Rate Decision     BTC/USD – Daily Analysis Bitcoin hasn’t changed much as investors continue to trade the crude oil fundamentals, ECB and now the focus shifts to Federal Reserve.  The BTC/USD is trading in a tight trading range of 10,400 – 10,100 and still trying to determine the momentum, either bullish or bearish, above the $10,400 resistance area versus the Greenback. The latest wave was made around $10,280, but it’s even below the previous swing high of around 10,480.  On the technical front, the 50 periods moving average is showing the bearish bias of traders for the BTC/USD as its extending resistance at 10,250 area. Above this level, BTC may find strength at $10,437 level, the previous swing high. While support prevails around 10,170 and below this, it has a chance to fall further.  BTC/USD – Daily Technical Levels Support    Resistance  10,138.49

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Daily F.X. Analysis, September 17 – Top Trade Setups In Forex – German ZEW Sentiment On the Radar! 

On Tuesday, the U.S. dollar index surged versus the basket of currencies. One of the primary reason was the U.S. President Donald Trump’s permission of the utilization of an emergency crude inventories in reply to assaults on Saudi Arabian refining facilities reduced a rush in WTI crude oil prices. On the other hand, the safe-haven currencies such as Japanese yen and Swiss franc gave up much of their original gains. Investors felt less uncertain about the markets after crude prices started heading lower.   Nevertheless, traders continued to be nervous about another assault, which is keeping the demand for safe-haven assets underpinned, along with the crude oil prices.   Economic Calendar – ZEW Economic Sentiment On the Radar      BTC/USD – Daily Analysis Lately, the leading cryptocurrency strived to achieve bullish momentum above the $10,400 resistance area versus the Greenback. The last swing high was made around $10,437 right before the BTC/USD pair started a downside correction.  On the technical side, it seems like the 61.8% Fib retracement level of the fresh drop from the $10,437 high to $10,270 low is working as a resistance. More specifically, there is a breakout pattern on the 4-hour timeframe with resistance near $10,400 on the hourly chart of the BTC/USD pair.  In case, the bitcoin violates the trend line support around $10,300 along with the 100 periods EMA; we may see a further downward movement in the BTC/USD pair.  Immediate support is around the $10,250 level, and the bearish breakout of this can extend bearish

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Daily F.X. Analysis, September 16 – Top Trade Setups In Forex – Dovish FOMC Sentiments In Play! 

  The U.S. Dollar has recorded an uptick in activity these past weeks, but that hasn’t accurately translated into a significant productive course from the benchmark currency. The greenback plunged on the back of a stable euro, though optimism for a thaw in Sino-U.S. trade war helped equity markets, limiting bullion’s gains. On Monday, the economic calendar is a bit light as investors are expecting just manufacturing figures from China during the Asian session. Rest of the day is likely to “price in” the rate cut sentiments from the Federal Reserve, which is due on September 19, Thursday. Economic Calendar – China’s Industrial Production In Action       BTC/USD – Daily Analysis It’s been a whole week now; the BTC/USD traded in narrow ranges of 10500 – 10200. Bitcoin is trading at its current price of $10,350, and it’s trying to push up against its next resistance level of $10,400. Bitcoin closed the week around 10292, right in the middle of upper and lower levels — the leading indicators such as RSI (Relative Strength Index) is holding into the selling zone, below 50 levels. This suggests the bearish bias among traders. However, the 50 periods EMA is indicating support around 10259. BTC/USD – Daily Technical Levels Support Resistance  9,912.98    10,301.69 9,731.37     10,508.79 9,342.66    10,897.5 Pivot Point 10,120.08 BTC/USD – Daily Forecast Last week, everyone was concentrating on the European Central Bank’s rate decision, perhaps that’s the reason we didn’t see much movement in the Cryptocurrencies. The BTC/USD

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Daily F.X. Analysis, September 13 – Top Trade Setups In Forex – U.S. Retail Sales Day!

It was a pretty volatile day as the market reacted dramatically on the release of ECB rate decision on Thursday. The ECB declared a quantitative easing (Q.E.) plan that involves 20 billion euros per month. The central bank also lowered its primary deposit rate by ten basis points to -0.5%, in line with investor forecasts. Besides, the U.S. President Donald Trump used the events to repeatedly blame the Federal Reserve of not extending enough support to the U.S. economy. Today, the market will be focusing on U.S. retail sales and core retail sales data to determine future trends.   Economic Calendar – Retail Sales on the Cards      BTC/USD – Daily Analysis On Friday, the Bitcoin is trading bullish, after trading sideways for a week. The market focus was mostly stuck at the ECB policy decision, which is finally over.  BTC/USD surged over 2% at its current value of $10,315, which indicates a wave from its immediate lows of $10,000 that was set yesterday.  Bitcoin finally made a slightly bullish move to place a high of around 10470. It has crossed the 50 periods EMA on the upper side, which is signalling a bullish bias among crypto traders. On the technical side, the BTC/USD may show a slight retracement ahead of showing a continued bullish trend.  BTC/USD – Daily Technical Levels Support Resistance  10,055.76 10,785.19 9,768.66 11,227.52 9,039.23 11,956.95 Pivot Point 10,498.09 BTC/USD – Daily Forecast The BTC/USD has not changed much as investors focus stayed on the ECB monetary

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Daily F.X. Analysis, September 12 – Top Trade Setups In Forex – ECB Rate Decision Day!  

Finally, the wait is over, and the European Central Bank is likely to reveal it’s interest rate later in the day. On Wednesday, the U.S. dollar index climbed on as U.S. security yields extended its bullish run on inflation data. Whereas, the reversal in the loonie amid sinking WTI crude oil prices also boosted the Greenback. Overall, the dollar index that estimates the Greenback strength against a trade-weighted basket of six major currencies increased by 0.33% to 98.65. Most of the bullish trend in the dollar was triggered on the back of the producer price index, which increased by 0.1% last month, in line with economists’ estimates.    Economic Calendar – ECB Monetary Policy Decision      BTC/USD – Daily Forecast The BTC/USD hasn’t changed so far after it gradually decreasing and broke above the $10,000 resistance area versus the U.S. Dollar. The price is experiencing challenges to cross over the bearish trendline resistance areas. It might extend to struggle around $10,450 and $10,800.  Looks like, we don’t have much demand for the leading cryptocurrency as investors are eyeing the ECB and stock markets amid risk-on sentiments.  Speaking about the technical side of the market, the BTCUSD has not changed much. It continues to trade sideways trade below 50 periods exponential moving average, which is extending strong resistance at 10,400. Below 10,400 trading level, the Bitcoin is likely to go after 9,820. The RSI and Stochastics have entered the selling zone, crossing below 50 regions.  BTC/USD – Daily Technical Levels

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Daily F.X. Analysis, September 11 – Top Trade Setups In Forex – PPI Ahead! 

On Wednesday, the Asian session was a bit fragile as investors don’t see any significant economic event which could shake the market. Weak trader’s confidence has boosted the dollar and weakened the safe-haven yen lately. Nevertheless, forex markets held to narrow trading ranges before series of main central bank gatherings across the week.  Trade focus, for now, is centered on the European Central Bank’s meeting, which is due on Thursday, which is expected to push interest rates even further into negative territory.   Economic Calendar – PPI Data Ahead       BTC/USD – Daily Forecast Bitcoin price is gradually decreasing and lately broke the $10,000 support area versus the U.S. Dollar. The price is suffering a difficult task, and it might extend to struggle around $10,250 and $10,300. There is a primary bearish trend line building with resistance around $10,250 on the hourly timeframe of the BTC/USD pair.    The technical side of the market remains the same, mostly. The BTC/USD proceeds to trade below 50 periods exponential moving average, which is extending strong resistance at 10,400. Below 10,400 trading level, the Bitcoin is likely to go after 9,820. RSI and Stochastics have entered the selling zone, crossing below 50 regions.  BTC/USD – Daily Technical Levels Support     Resistance  10,055.76    10,785.19 9,768.66      11,227.52 9,039.23      11,956.95 Pivot Point 10,498.09 BTC/USD – Daily Forecast Bitcoin slipped lower to complete 61.8% Fibonacci retracement at 9906 area but has managed to close above the support zone. On

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Daily F.X. Analysis, September 10 – Top Trade Setups In Forex – U.K. Labor Report Ahead! 

The U.S. dollar index sailed lower as traders risk appetite increased after the forex gained support on a statement of German stimulus plans, reducing uncertainties of a no-deal Brexit and expectations of an invention in the Sino-U.S. trade war. Risk-On Sentiment  The risk sentiment is turning has shifted from risk-off to risk-on, primarily due to lack of developments in the U.S. China trade war and Brexit.  Moreover, the CPI figures from one of the worlds biggest economy China has been optimistic. China’s consumer price index (CPI) mounted above the trend in August. According to the National Bureau of Statistics, China’s CPI increased by 0.7% in August, up from 0.4% in July.   Economic Calendar – U.K.’s Labor Market Report In Focus     BTC/USD – Daily Forecast Bitcoin (BTC) has been consolidating in a narrow range for the better part of the day. Bitcoin seems to be staying over the $10,300 price point. The coin marked a low of $10,080 prior ahead of moving to an intraday high of around $10,400 and is currently trading at $10,354, dispensing a tiny loss of 0.41% on the day.   The technical side of the market hasn’t changed much as the BTCUSD continues to hold below 50 periods EMA, which is extending strong resistance at 10,400.  Below this level (10,400), the Bitcoin is likely to go after 9,820 level as the RSI and Stochastics have entered the selling zone, crossing below 50 regions.    BTC/USD – Daily Technical Levels Support Resistance  10055.76 10785.19 9768.66

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