Tag: Daily Breif

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

Read More

Daily F.X. Analysis, Sept 25 – Top Trade Setups In Forex – Stronger Dollar Sentiment Dominates!  

On Wednesday, the U.S. dollar index that measures the dollar’s strength against a basket of peer currencies surged 0.2% to 98.10. Traders are now looking for further developments in the United States after House Speaker Nancy Pelosi announced a formal impeachment probe into President Donald Trump. The risk appetite rose after Trump’s trussed at Iran, along with oil-related geopolitical tensions in the Middle East, also sent yellow metal gold toward the $1,550 zone. Economic Calendar – Stronger Dollar Plays      BTC/USD – Daily Analysis What a day for the bitcoin, the leading crypto fell dramatically to trade at 8,537.5, losing around -1227.1 and -12.57% for the day.   Over the period of just 30 minutes, starting at 16:00 UTC on Sept 24, bitcoin prices fell beneath $8,000 — its weakest point since June 12 of this year.  Besides, $30 billion has been pulled out of the market across 24 hours as traders attempted to close their trades amid a frenzied sell-off. On the 4-hour timeframe, the BTC/USD is now facing substantial resistance at 38.2% Fibo level of 8650 area. Sights are now steadily set on the 200-day moving average (MA) that would formally consider the inauguration of a fresh bear market should a firm close below $8,311 occur. BTC/USD – Daily Technical Levels Support     Resistance  9,554.67    10,281.34 9,238.5      10,691.84 8,511.83     11,418.51 Pivot Point 9,965.17 BTC/USD – Daily Forecast The BTC/USD has violated and broken below the descending triangle pattern support of 9300 on

Read More

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

Read More

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

Read More
Top