Daily F.X. Analysis, November 18– Top Trade Setups In Forex – U.S. China Trade Talks Continues! 

The U.S. Dollar Index fell 0.2% on the day to 98.00, as economic data released on Friday was mixed. Over the weekend, the Chinese Commerce Ministry said U.S. and Chinese trade representatives held constructive discussions in a phone call over each other’s core concerns of the phase one trade deal. Commodity-linked currencies were broadly higher against the greenback. AUD/USD rebounded 0.5% to 0.6820 and NZD/USD advanced 0.3% to 0.6401, while USD/CAD slid 0.2% to 1.3223. Economic Calendar – German Buba Monthly Report     BTC/USD – Daily Analysis The BTC/USD has violated the descendent triangle pattern, which is now extending resistance at 8,575 level. Besides, the bearish e engulfing pattern also supports the bearish trend in the BTC/USD today. Previously, the BTC/USD price proceeds to trend lower, scoring five continuous lower highs as the price moves a stairstep drop in a descending wedge. Interestingly, this particular pattern is described by many analysts as a sign of a potentially bullish result, so possibly there is still faith. The price has entered the $8,674 support for the 3rd times in the previous four days, raising the possibility that the price will fall to the lower trendline of the descending wedge at $8,480. The daily graph reveals that Bitcoin had used the week riding by the 200-DMA, a point which was lost earlier today.  The BTC/USD has violated the triple bottom support level of 8,575, and with this, the BTC/USD can open further room for selling until 8,330 BTC/USD – Daily Technical Levels Support 

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Daily F.X. Analysis, November 15– Top Trade Setups In Forex – Brace to Trade Friday! 

The U.S. Dollar Index slipped 0.2% on the day to 98.15. Media reported that China is delaying the signing of phase one trade deal as negotiations over intellectual property and agricultural products are stalled.  The U.S. Labor Department reported that initial jobless claims amounted to 225,000 in the week ended November 9, compared with 215,000 expected and 211,000 in the prior week. Producers’ prices grew 0.4% on month in October (+0.3% expected). Let’s see what’s waiting for us today… Economic Calendar – U.S. Retail Sales In Highlights     BTC/USD – Daily Analysis The BTC/USD price proceeds to trend lower, scoring five continuous lower highs as the price moves a stairstep drop in a descending wedge. Interestingly, this particular pattern is described by many analysts as a sign of a potentially bullish result, so possibly there is still faith. The price has entered the $8,674 support for the 3rd times in the previous four days, raising the possibility that the price will fall to the lower trendline of the descending wedge at $8,480. The daily graph reveals that Bitcoin had used the week riding by the 200-DMA, a point which was lost earlier today.  The BTC/USD has violated the triple bottom support level of 8,575, and with this, the BTC/USD can open further room for selling until 8,330 BTC/USD – Daily Technical Levels Support      Resistance  8,586.2        9,134.95 8,354.76      9,452.26 7,806.01    10,001.01 Pivot Point 8,903.51 BTC/USD – Daily Forecast On the 4 hour

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Daily F.X. Analysis, November 14– Top Trade Setups In Forex – U.K. Retail Sales & Fed Chair Powell In Focus! 

The U.S. dollar remained stable on Wednesday, as Fed Chair Jerome Powell’s comments at his Congress testimony were large as expected. The ICE Dollar Index edged up 0.1% on the day to 98.31. In his testimony before an “Economic Outlook” hearing in Congress, U.S. Federal Reserve Chairman Jerome Powell stated that the market is in its eleventh year of expansion with low unemployment and moderate inflation, adding that there is little need to cut interest rates further. Later today, initial jobless claims for the week ending November 9 are expected to be 215,000. Producer prices are expected to grow 0.3% on month in October. Economic Calendar – Retail Sales & Fed Chair Powell In Focus!      BTC/USD – Daily Analysis The BTC/USD has not moved much as it continues to follow the same technical levels. The BTC/USD continues to consolidate in a trading range of 8,836 – 8,600. Bitcoin (BTC) will cross the market cap of gold and could eventually be worth $1 million, well-known industry numbers. In a string of tweets on November 10, Bobby Lee, who discovered the Chinese cryptocurrency exchange BTC and presently operates a Bitcoin wallet startup, displayed as the freshest voice in the expanding discussion on Bitcoin versus gold.  The BTC/USD has formed a bearish engulfing pattern on the hourly chart, which is suggesting the chances of a bearish reversal in the BTC/USD. The pair may continue to face resistance at 9110 levels along with support at 8850 and 8625 today. BTC/USD – Daily Technical

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Daily F.X. Analysis, November 13– Top Trade Setups In Forex – Traders Braces for CPI Reports! 

The U.S. dollar kept trading within a tight range ahead of the Fed Chair Powell’s testimony later today. The ICE U.S. Dollar Index closed broadly flat on the day at 98.20. U.S. stocks placed modest increases as investors tried to digest President Donald Trump’s comments on U.S.-China trade. The DJIA was flat at 27691, the S&P 500 added 4 points (+0.2%) to 3091, and the Nasdaq Composite was up 21 points (+0.3%) to 8486. President Trump pointed out that China is “dying to make a deal. We’re the ones who are deciding whether we want to make a deal.” Later today, Federal Reserve Chairman Jerome Powell will testify in an “Economic Outlook” hearing in Congress.  Economic Calendar – Traders Braces for CPI Reports!       BTC/USD – Daily Analysis On Tuesday, the BTC/USD continues to trade under pressure around 8,700 amid a stronger dollar. On the 4 hour chart, the BTC/USD has completed 50% Fibonacci retracement at 8,645, and this level is now working as a support for today. On the upper side, the BTC/USD has an immediate resistance at 8,750, and the violation of this level can extend buying until 8,865. Robust dollar drives the BTC/USD prices nearby 8,600. The sharp sell-off came following the BTC/USD broke symmetric triangle pattern on the hourly graph. During the early Asian session, the BTC/USD has opened higher with a passage as investors appear to make profit-taking at the start of the new week.  The BTC/USD has formed a bearish engulfing pattern on

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Daily F.X. Analysis, November 12– Top Trade Setups In Forex – Safe Haven Fades Despite Trade Issue!  

  The U.S. Dollar Index eased from a 3-weeks high, down 0.1% on the day to 98.21. Major U.S. stock indexes closed mixed, as the S&P 500 (-6 points or -0.2% to 3087) snapped a 3-day winning streak while the Dow Jones Industrial Average (+10 points to 27691) edged up to a fresh record high. The Nasdaq Composite was down 11 points (-0.1%) to 8464. European stocks were lacking momentum, as the Stoxx Europe 600 was little changed. Germany’s DAX declined 0.2%, the U.K.’s FTSE 100 fell 0.4%, while France’s CAC closed flat. U.S. bond markets were closed for the Veteran’s Day. Spot gold slipped 0.2% to $1,455 an ounce extending its losing streak to a third session. Economic Calendar – Trump’s Speech on the Radar     BTC/USD – Daily Analysis Bitcoin (BTC) will surpass the market cap of gold and could eventually be worth $1 million, well-known industry numbers. In a string of tweets on Nov. 10, Bobby Lee, who discovered the Chinese cryptocurrency exchange BTC and presently operates a Bitcoin wallet startup, displayed as the freshest voice in the expanding discussion on Bitcoin versus gold.  Robust dollar drives the BTC/USD prices nearby 8,600 low on Monday. The sharp sell-off came following the BTC/USD broke symmetric triangle pattern on the hourly graph. During the early Asian session, the BTC/USD has opened higher with a passage as investors appear to make profit-taking at the start of the new week.  The BTC/USD has formed a bearish engulfing pattern on the

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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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