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News to trade on December 19
Check the candles: http://bit.ly/2ST2dx0
19.12.2018
The main focus for the market for today will be on the Federal open market committee statement and on the press conference at 21:00 MT (19:00 GMT) time. The Federal Reserve is expected to deliver the 4th rate hike. If the Fed is hawkish, EUR/USD will fall to the support at 1.1338.
However, some of the analysts afraid of the possible dovish tone by the Fed amid the global economic slowdown. If the Fed Chair Powell delivers dovish comments, EUR/USD will stick above the resistance at 1.1408.
According to the news, the British Prime Minister Theresa May agreed to implement the plans for a no-deal Brexit. Further warnings to Great Britain will be announced in the coming weeks. At the moment, GBP/USD has continued its modest gains towards the resistance at 1.27. Any positive updates on the Brexit solution will support the British pound and push it further up to the 1.27 level. Otherwise, if the news on Brexit disappoints investors and traders, the British currency will fall towards the support at 1.2605.
New Zealand anticipates the release of GDP for the third quarter. Experts see the economy of New Zealand to grow by 0.6%. If the actual data is higher, the kiwi will rise towards the resistance at 0.6876. The lower-than-expected data will pull the kiwi down to the support at 0.6826.
The oil prices keep moving down driven by Russian and US high supply forecasts. Russian oil production hit a record 11.42 million barrels this month, while the level of oil production in 7 US shale basins is expected to climb to more than 8 million barrels by the end of 2018. As a result, the price for WTI updated its August 2017 lows and stick below the $47 level yesterday. More concerns on the oversupply will pull the crude’s price towards the support at $45.76. If more hints on the production cut by OPEC+, scheduled for the next month come out, the price for WTI will stick above the resistance at $47.02. The next resistance is placed at $48.68.
As for Brent, its price tested the support at $55.96. If it’s broken, bears will focus on the next support at $55.12. If the price for Brent gets a positive momentum, it will rise towards the resistance at $57.65.
The gold has been going up due to the weak US dollar. If the USD is not supported by the Fed statement, the price for the yellow metal will rise towards the resistance at $1,258. In case of the strong USD, the price for gold will stick below the support at $1,248.
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News to trade on December 20
Check the candles: http://bit.ly/2A9N0Ro
20.12.2018
Yesterday, the Federal Reserve raised its interest rate from 2.25% to 2.5%. However, the comments by the Fed Chair Jerome Powell brought some uncertainty to the market. Fed officials predicted two rate hikes in 2019, instead of three mentioned during the previous meeting. In addition, they cut the long-term expectations for the policy rate. It resulted in the mixed trading of the USD.
In other news, the European Commission brought some positivity to the euro traders. The European Commission vice president Valdis Dombrovskis confirmed the commission has reached a deal with Italy on its budget. It will avoid the excessive deficit procedure and avoid disciplinary measures. As a result, EUR/USD has gained significantly. For now, the pair has already crossed the 1.1408 level. The next resistance for the pair lies at 1.1513. If the USD gains back its strength, the pair may fall back below the 1.1408 level towards the support at 1.1338.
During the Asian session, the Bank of Japan kept its monetary policy unchanged, as expected. USD/JPY was unaffected by this decision, driven mostly by the weak USD and the risk-off sentiment across the equity markets. At the moment the pair has been targeting the support at 111.61. If it is broken, the next support lies at 110.99. If the USD gains back its strength, the pair will move up to the resistance at 112.49.
The Bank of England will present its monetary policy summary and announce its official bank rate votes at 14:00 MT time. The rate hike is not expected, however, the BOE governor Mark Carney and his colleagues may provide some supportive data for the British pound and suggest some hints for further bank’s decisions in case of a no-deal Brexit. The British pound has already bounced from the strong support at the central pivot at 1.2605. For now, GBP/USD has been gaining towards the resistance at 1.2735. The hawkish BOE will make the cable rise higher to the 1.2735 level. Otherwise, if the BOE is dovish or the actual level of the retail sales disappoints the investors, the risks of the fall below the 1.2605 support will increase.
The Australian dollar has been rising after the release of employment change. The indicator increased by 37 thousand employed people (vs. 20 thousand people expected). The aussie has tested the resistance at 0.7133. If the sentiment in the market changes, bulls will manage to break this level. The next resistance is placed at 0.7260. If the USD strengthens, AUD/USD will fall towards the support at 0.7094. The next support lies at 0.7037.
Gold has been moving up amid the weak USD. Today, it has already risen towards the resistance at $1,258, reaching the highs of July 2018. In case of the strong USD, the price for the yellow metal will fall downwards to the support at $1,240.
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Weekly Cryptonews
More at: http://bit.ly/2EI4Mz6
21.12.2018
Stephen Pairs, Bitpay CEO: “I used to say 10 years, but now I think it’s more like 3-5 years until you can go into a restaurant, a retail establishment, and just everybody’s going to expect that that store will be able to accept a blockchain payment.”
Crypto market finally entered the correction phase. The price for Bitcoin rebounded from the $3,222 level on Saturday and continued to go up. On Thursday it managed to stick above the $4,000 level. If bulls continue to pull the price further, it will manage to rise towards the resistance at $4,337. The next resistance is placed at $4,753. In case of the bearish pressure, the price for the oldest cryptocurrency will fall towards the support at $3,660. If we look at the technical side, we can see that the price created lower lows on the daily chart, while MACD formed higher lows. This situation is called convergence and signals reversal to the upside. In addition, Parabolic SAR shows an uptrend for Bitcoin. It is a good sign for the further rise of the grandfather of cryptocurrencies.
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In other news:
The cryptomarket has grown by $10 billion in several days. Can you believe it?
The Bitcoin mining’s difficulty declined by 9.5%. It means that miners will get back to work soon.
Regulations:
Two US congressmen suggested to exclude cryptocurrencies from the securities classification and improve the tax treatment for currencies.
French authorities refused to cut taxes for the owners of crypto assets. The current tax is held at 36%.
The British government suggested providing the Financial Conduct Authority (FCA) with additional rights to regulate cryptocurrency assets.
New releases:
Facebook announced the stablecoin’s development for WhatsApp users. At first, it will be launched in India.
The construction of the crypto heaven in Malta continues: RnF Finance Limited submitted a request for blockchain bank’s license.
Just for fun:
The famous trader Mark Dow closed the short position for Bitcoin, which he was holding for the whole year. He opened position when BTC’s price was at the top. Now we know the reason for the bearish market :)
Bitcoin $4,142
Ethereum $117.47
Litecoin $32.32
DASH: $94.37
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Top events this week will bring us
More at: http://bit.ly/2EJpeif
24.12.2018
This week brings us not so many important events in the market due to the central banks’ holidays on December 24 and December 25. However, there are still some opportunities for trading.
Speech by the Bank of Japan Governor Mr. Kuroda (Thu, 6:00 MT (4:00 GMT) time) – The governor of one of the most dovish banks Haruhiko Kuroda is expected to speak on December 27. His speech may support the Japanese yen.
American CB consumer confidence (Thu, 17:00 MT (15:00 GMT) time) - The level of US consumer confidence by the Conference Board is expected to decline to 133. If the actual data is higher, than expected, the USD will be supported.
Hot topics:
The Chinese finance ministry has announced changes to the tariffs since the beginning of next year. China will remove export tariffs on 94 products, including iron ore and levy temporary tariffs on more than 700 items.
US Treasury Secretary Steven Mnuchin will speak with the Federal Reserve on financial markets today.
According to news, Trump has been discussing the possibility to fire the Fed Chair Jerome Powell last few days. He has been warned that firing the head of the Federal Reserve would be a destructive move towards the US economy. Moreover, it is not clear Mr. Trump has a right to fire Mr. Powell.
Leaders of the US Congress failed to reach a deal with the White House on the border wall funding and the government was partially shut down. It is worth to mention, the Democrats will take control of the House on January 3, which means Trump may never get funding for the wall.
OPEC plans to deepen or extend the reductions of the oil production. Its actions may support the oil prices at the beginning of the year.
Have a good week of trading and happy holidays!
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News to trade on December 26
Check the candles: http://bit.ly/2BIOLVu
26.12.2018
The US dollar has risen on the Wednesday’s morning after the US president Donald Trump expressed confidence in the US Treasury secretary, Federal Reserve and US economy yesterday. As a result, EUR/USD has dropped to the support at 1.1385. If Trump expresses more confidence towards the Fed Chair Jerome Powell, EUR/USD will break that support and fall further to the next one at 1.1283. Otherwise, in case of more uncertainties, the pair will rise towards the resistance at 1.1470.
Gold is trading at last June’s highs. Up to this moment, the price for the yellow metal is testing the resistance at $1,269. If this level is broken, the next resistance is placed at $1,283. If the USD gets stronger, the price for gold will fall towards the support at $1,252.
On Monday, the price for oil tested the fresh lows. The WTI’s price stuck below the $42.86 level. Any updates on the output cut by OPEC will push the price higher above the $42.86 level to the resistance at $47.49. If the bearish pressure continues, the price for WTI will fall further to the next support at $40.73.
As for Brent’s price, it has tested the support at $50.43. Positive news on the production cut will help bulls to pull the price towards the resistance at $55.12. Otherwise, it will break the support at $50.43 and target the next support at $47.40.
Follow us for more news!
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News to trade on December 27
Check the candles: http://bit.ly/2AkK98b
27.12.2018
According to the economic calendar, the most important event for today is the release of the CB consumer confidence at 17:00. Analysts anticipate the decline to 133.7 points. If the actual level of the indicator is higher, the USD will be supported.
If we look at the daily chart of EUR/USD, the pair has been trading sideways. If the CB consumer confidence outperforms the expectations, the bearish pressure will increase. In that case, the pair will fall to the support at 1.1283. Otherwise, the pair will have a possibility to break the resistance at 1.1385 and rise upwards to the next resistance at 1.1470.
As for USD/JPY, the pair has been targeting the support at 110.148. If the USD is supported by the today’s release, the pair will rise towards the resistance at 111.84. If the investors are disappointed by the data, the pair will fall to the support at 110.148.
During the Asian session, the release of industrial profits for China disappointed the investors. The indicator declined by 1.8% (vs. the previous +3.6%). AUD/USD has been falling on the news from China towards the support at 0.6971. If the risk on sentiment increases, the pair will rise to the resistance at 0.7087.
As for NZD/USD, the pair has been falling since the beginning of the day. The next support for the kiwi is placed at 0.6648. If the antipodean currency is supported, it will rise to the resistance at 0.6764.
The oil keeps plunging and therefore makes the CAD weaker. USD/CAD has been rising towards the resistance at 1.3678. If the USD moves down, the pair will be pulled down to the support at 1.3525.
Follow us for more news!
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I think you guy should do something about these negative reviews on fbs on forex peace army. This scared me!
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Hello Rossa, we're indeed working on it, I don't really understand why it has such a bad reputation in this site, maybe in the past it wasn't so trustworthy, but I've been trading with their platform for around 6 months already and everything goes smooth.
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Bitcoin Retrospective and a Glance into the Future!
2018 looks like a cross-section of the overall bitcoin behavior – unpredicted, volatile, giving big hopes and stealing them within a day. The currency started 2018 with a glorious entrance holding its price at the peak since the creation of cryptocurrencies!
Let’s get learn more about this!
http://bit.ly/2EUQN94
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Technical analysis
Technical analysis (TA) is a method of predicting the future performance of an asset’s price (in our case, the price of a currency pair) on the basis of its historical performance.
In other words, technical analysts study financial charts in order to determine what will happen with the price next.
In contrast to fundamental analysis which is regarding the “value” of the asset, technical analysis is only interested in price, volume and other market information. Some traders use either technical or fundamental analysis, while others combine these two methods to make trading decisions..
Let’s get to learn!
http://bit.ly/2QkmSbM
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[img]https://i.imgur.com/YDpfuyE.jpg[/img[
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5 INSPIRING STORIES ABOUT MONEY
New Year is a great time to set new goals, create plans and recharge your inspiration. And what can be more inspirational, than a story of success? Forex is a place where everything is possible for everyone. Here are 5 impressive stories of famous traders, who started with very different backgrounds, but have one thing in common – success...
Let’s get learn more about this!
http://bit.ly/2COLMg1
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LESSON 7. Quotes: pips and big figures
On Forex market, the value of a currency is given in pips.
Pip is an acronym of “Percentage in Point”. It represents the smallest change an exchange rate can make.
Most currencies are quoted to four numbers after the point, so one pip equals to 1/100 of a percent (0.0001)
Let’s get learn!
http://bit.ly/2LTmeBg
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Top events this week will bring us
More at: http://bit.ly/2sg1MBJ
08.01.2019
5 important event to follow this week!
1. Canadian Trade Balance data (January 8, 15:30 MT time (13:30 GMT)). Trade balance data is important for the Canadian economy and the CAD. That’s why the release may strongly affect the direction of the Canadian dollar.
2. BOC Rate Statement – (January 9, 17:00 MT time (15:00 GMT)). The Bank of Canada is one of the most unpredictable central banks in its decisions. But as usual, the hawkish mood of the BOC will boost the CAD. In the case of the cautious tone, the loonie will decline.
3. BOE Governor Carney Speaks (January 9, 17:30 MT time (15:0 GMT)). Comments by members of central banks are always highly important, especially when they are from heads of the CBs. The UK has been coming to the end of the Brexit saga or not? Encouraging speech of Mr. Carney will support the GBP while dovish mood will pull the GBP down.
4. FOMC Meeting Minutes (January 9, 21:00 MT time (19:00 GMT)). The Fed raised the interest rate in December 2018, however, it didn’t boost the market sentiment. Traders worry about the slowdown in the rate hikes’ pace. If the release is more positive than anticipated, the USD will rise.
5. US CPI figures (January 11, 15:30 MT time (13:30 GMT)). CPI is one of the crucial economic data that is followed by traders all around the world. CPI and Core CPI figures will affect the direction of the US dollar. Everything is simple: if the actual data outperform the forecasts, the USD will rise. Vice versa, the US dollar will depreciate.
Hot topics:
The Parliament vote for the final Brexit deal was postponed from January 11 to January 15. Further postpones? MAY BE.
Theresa May is going to chair a new cabinet committee (the EU exit and trade (preparedness) committee) that has been set up to take charge of the Brexit planning. Among other issues, it will cover planning for a no-deal Brexit.
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Trade on the comments by the BOC
More at: http://bit.ly/2FpeWnV
09.01.2019
The Bank of Canada (BOC) will present its monetary policy report and make the rate statement on January 9 at 17:00 MT time.
The market expectations of the rate hike are low, however, the comments by the bank of Canada governor Stephen Poloz may support the Canadian dollar. Last comments by the BOC governor Mr. Poloz were not very certain due to the fall in the oil prices and the trade war between the US and China. As the output cut by the OPEC+ has started since the beginning of the year, the central bank of Canada may sound more confident this time.
• If the BOC is hawkish, the CAD will rise;
• If the BOC is dovish, the CAD will fall.
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Japan’s wages calculation in GDP will be revised
More at: http://bit.ly/2D2WkZd
11.01.2019
On Friday, Japan's cabinet told it’s on the verge of amending the calculation of employees’ compensation in the country’s GDP. Moreover, the Japanese government will most likely have its draft budget revised having understated wages data for over a decade because of faulty polling techniques.
The revisions aren’t anticipated to change the tempo of economic surge in Japan. Simultaneously, that’s an embarrassment for Prime Minister Shinzo Abe due to the fact that his cabinet has enacted a number of policies to avert the risk of deflation by simply stimulating wages to go up.
In fact, inaccurate wage data makes it difficult to evaluate whether Abe's policies are really working and could raise questions regarding the credibility of other data, thus leaving Japanese policy makers blind-sided in their attempts to speed up sustainable economic surge.
As some financial analysts pointed out, escaping deflation turns out to be Abe's number one economic objective, and if you’re unable to trust the data you are unable to make rational policy decisions. Last year the Japanese cabinet altered the sampling method for the purpose of improving wages data, and now they’re telling they had the data understated, which is incredible.
On Friday, the Cabinet Office that compiles GDP told that it’s going to uncover revisions for wages in 2016-2017 at the end of January. In February, the Cabinet Office is going to disclose revisions to wages data from 2015 and also earlier.
On Friday, the country’s Finance Minister Taro Aso told that the cabinet won’t probably have its budget draft revised for the next fiscal year to pay for a shortfall of employment insurance benefits provoked by mistakes in Japan’s wage data.
Such a rare move as this probable budget revision would follow the revelation that the labor ministry wrongly calculated employees’ average wages for years.
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5 important things this week will bring us
http://bit.ly/2SU1Mmz
14.01.2019
Parliament Brexit Vote - (Tue, tentative) – Theresa May postponed the vote, which was scheduled for December, due to the high probability of rejection by the Parliament. However, that delay did not help the prime minister to raise confidence in the current Brexit deal. If Theresa May loses, there are high risks of the Brexit delay as well as the forced government election and the second referendum. In addition, the possibility of a chaotic no-deal Brexit still exists. A negative outcome will pull the British pound down. Today it is recommended to keep an eye on Theresa May’s speech at 17:30 MT time, where she will comment on the current situation and express her opinion on the parliament vote. Her comments will make the British pound volatile.
US PPI and core PPI m/m – (Tue, 15:30 MT (13:30 GMT) time) – The level of producer price index is expected to decline by 0.1 %, while core PPI will likely advance by 0.2%. Higher-than-expected data will support the USD.
British CPI – (Wed, 11:30 MT (9:30 GMT) time) – The inflation of Great Britain is going down due to the energy prices. According to analysts, the December level will show a decline to 2.1%. If the actual figures are higher, the GBP will rise.
Speech by the Bank of Japan governor – (Thu, 5:20 MT (3:30 GMT) time) – The governor of the most dovish bank Haruhiko Kuroda will make his comments on the monetary policy of the Bank of Japan and the economic conditions of Japan. Any unexpected announcements by Mr. Kuroda will bring excitement to the JPY traders.
Canadian CPI (Fri, 15:30 MT (13:30 GMT) time) – According to experts, the level of consumer price index in Canada will fall by 0.3%. Let’s see if the actual data brings a positive momentum to the Canadian dollar.
Hot topics:
The G20 meeting for finance ministers and central bankers on January 17-18 will be in focus. It will be interesting to hear comments on the current situation in the financial markets.
The slump of Chinese export and import in December added pressure for reaching a deal with the US. According to the recent news, Chinese Vice-premier Liu He plans to travel to the US for the further talks on the trade deal at the end of the month.
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Trade the British pound on the inflation data
Check the article: http://bit.ly/2FtCJUb
15.01.2019
The level of British consumer price index (CPI) will be released on January 16 at 11:30 MT time.
This indicator accounts for a majority of overall inflation. The data is very important, as the bank of England uses it to measure the inflation level. Last month the index remained at the same level of 2.3%, as it was forecast by analysts. Higher-than-expected data will bring a positive momentum to the British currency.
• If CPI is higher than expected, the GBP will rise;
• IF CPI is lower, than expected, the GBP will fall.
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UK pound strengthens on Brexit vote defeat
More at: http://bit.ly/2TNxWQO
16.01.2019
On Wednesday, the UK currency managed to strengthen after a dive overnight when the British main legislative body overwhelmingly voted down the country’s Prime Minister Theresa May's Brexit agreement, thus contributing to uncertainties surrounding Great Britain’s withdrawal from the EU.
As a matter of fact, the currency pair GBP/USD hit 1.2862 having tumbled to 1.2667 late on Tuesday.
On Tuesday, the UK parliament voted 432-202 against her deal, which appears to be the worst parliamentary defeat for the country’s cabinet in recent UK history.
The UK pound had gone down over 1% versus the evergreen buck in the wake of the vote, before bouncing off because the sizable defeat for the country’s Prime Minister was making the United Kingdom pursue different options.
However, there’re also fears that the given result may provoke political upheaval, which could result in a disorderly Brexit.
As some financial analysts explained, while the margin of Prime Minister’s loss appeared to be a surprise, but the defeat itself was something financial markets had been pricing in for a long time. As a result, traders covered their short positions in the UK currency following the vote.
March 29 turns out to be the deadline for Brexit, although with the clock rapidly ticking down an extension of the deadline currently seems more probable.
The UK pound was nearly intact versus the common currency. The currency pair EUR/GBP demonstrated a reading of 0.8874.
The euro stood still versus the greenback. The currency pair EUR/USD showed 1.1419.
As for the Japanese yen, it surged a bit versus the evergreen buck. The currency pair USD/JPY went down by nearly 0.12% being worth 108.53.
Gauging the evergreen buck’s actual purchasing power against its main peers the USD index tumbled by about 0.18% being worth 95.50.
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Dow concludes up
More at: http://bit.ly/2RRIAsf
16.01.2019
On Wednesday, the Dow concluded up for a second consecutive day, led by a leap in financials because positive quarterly outcomes from Wall Street financial institutions backed investor optimism on gains.
As a matter of fact, the Dow Jones Industrial Average headed north by 0.59%. The S&P 500 ascended by 0.19%, the Nasdaq Composite surged by 0.15%.
Bank of America along with Goldman Sachs delivered fourth quarter outcomes that beat on both the top as well as bottom lines, pushing their stocks up by respectively 7.2% and 9.6%.
Financials were also backed by an ascend in BlackRock Inc notwithstanding earning, which fell short of forecasts.
As for financials, they tacked on by 2.20% because the sector keeps clawback losses of 15% for the last year.
Additionally, United Continental's better-than anticipated profits, posted on Tuesday after markets were unavailable, pushed its equities more than 6% up. As for American Airlines Group as well as Southwest Airlines, they also concluded the trading session up.
The dismal backdrop for retailers kept affecting performance, with stocks of Nordstrom heading south by 4.7% after it posted soft same-store sales surge on full price merchandise, backing a downgrade from buy to neutral for Goldman Sachs.
Goldman Sachs told that Nordstrom's pre-announced holiday sales actually confirmed a marked slowdown in the full-price business, referring to dismal store traffic as a concern, as it showed up in a period where the consumer is enough strong and where news from other mall-based retailers on traffic has appeared to be more mixed.
The mostly bullish earnings as well as stable guidance have helped the broader market to extend profits, although a Fed's Beige Book disclosed that businesses are starting to perceive the pressure of soaring input costs that could compress margin.
Bank of America, United Continental, and Goldman Sachs appeared to be among the top S&P 500 performers for the trading session.
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Weekly Cryptonews
More: http://bit.ly/2T0rwhh
18.01.2019
Jeremy Gardner, founder of Ausum Ventures: “The point is to get people to think about bitcoin, not spend it. I don’t think it’s good for that. It’s not meant to be used like cash.”
Bitcoin has stuck again: the digital currency has been trading sideways since the last Friday between $3,566 and $3,790 levels. The highly anticipated Ethereum’s update Constantinople failed to create additional volatility to the crypto market due to its postponement. The reason for that delay was a potential security vulnerability in the Ethereum’s chain.
For now, the grandfather of cryptocurrencies has been trading below the 50 MA on the H4 chart. If bulls manage to push bitcoin up, the price will retest the resistance at $3,720. If it’s broken, the next resistance is placed at $3,746. In case of a bearish pressure, bitcoin will fall to the support at $3,685. The next support is at $3,660.
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In other news:
The popular New Zealand crypto trading platform Cryptopia was hacked on Tuesday. According to news, the platform suffered significant losses.
The president of Venezuela Nicolás Maduro raised the price of the national crypto El Petro from 9 to 36 thousand bolivars. In addition, he gave orders to sell 15% of the exported oil for El Petro. It’s uncertain, which countries it will be sold to, though.
Chevron and Total oil companies joined Vakt blockchain platform to trade energy resources.
R3 blockchain-consortium launched its own platform named Corda
Vlad Zamfir, an Ethereum developer and one of the main creators of the Casper protocol will cooperate with the Casper Labs start-up, which develops a separate blockchain using this protocol.
Blocksteam presented the API beta-version of its own project Satellite. It will help to send bitcoins to any part of the world through satellites.
Malaysian government officials are still undecided on whether or not they will legalize cryptocurrency. The matter is still under consideration, which is frustrating those looking to seize the moment to help the Malaysian cryptocurrency industry grow.
Bitcoin $3,735
Ethereum $125.21
Litecoin $32.30
DASH: $74.43
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5 important things this week will bring us!
More at: http://bit.ly/2HnIGDX
21.01.2019
Great Britain’s average earnings index 3m/y – (Tue, 11:30 MT (9:30 GMT) time) – Despite the Brexit headlines, economic data for Great Britain may also affect the GBP. We anticipate the level to increase by 3.3% in November. If the indicator outperforms the expectations, the GBP will rise.
BOJ monetary policy statement and monetary policy statement – (Wed, tentative) – the Japanese central bank will keep its interest rate unchanged, but the Japanese governor Haruhiko Kuroda could announce lower forecasts for inflation due to the economic slowdown.
Canada’s retail sales and core retail sales – (Wed, 15:30 MT (13:30 GMT) time) – The level of headline retail sales declined by 0.3%, while the level of core retail sales remained at the same level. The expected figures are going to be announced prior to the date. If the actual data is higher than them, the CAD will get positive momentum.
Australia’s employment change and unemployment rate (Thu, 02:30 MT (0:30 GMT) time) – Australia’s jobs level is forecast to increase by 18.1 thousand people. Higher levels will
ECB press conference – (Thu, 15:30 MT (13:30 GMT) time) – According to analysts, the first rate hike will be no earlier than in September and might be pushed back due to the signs of economic slowdown. However, the comments by the European central bank president Mario Draghi may shake the euro. His hawkish tone will push the currency up. On the other hand, if he is cautious, the euro will go down.
Hot topics:
The trade negotiations between the US and China have stuck for now, as the sides made little progress on the intellectual property rights issue. The further talks are scheduled to continue at the end of January in the US.
Donald Trump and senior Democrats took their first steps toward a compromise deal on immigration and border security. However, it is still unclear if the sides come to an agreement, as Democrats want the government to open first. It’s worth to mention that Trump offered 3 years of deportation relief for some immigrants in return for $5.7 billion for border walls on Saturday. Democrats rejected this offer before the speech by the US president. We will keep you the further progress of the deal.
More on Brexit: Theresa May returns to Parliament to explain her next steps. Earlier, she told the Cabinet she’ll try to get her deal through Parliament with votes of Conservatives and her Northern Ireland allies. In addition, the German Chancellor Angela Merkel said she would support the British prime minister.
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Evergreen buck steadies
Read at: http://bit.ly/2CyOrZX
22.01.2019
On Tuesday, the evergreen buck managed to stabilize in Asia because the International Monetary Fund had its 2019 as well as 2020 global surge forecasts cut overnight.
The IMF currently projects a 3.5% surge rate worldwide for this year and also 3.6% for next year. Eventually, these are 0.2% and also 0.1% below its previous estimates in October.
The fund cited a “no deal” Brexit, China-US trade clashes, a resumed tightening of financial conditions as well as a deeper-than-expected deceleration in China as the major reasons for the downgrade.
The news showed up several hours after on Monday China posted its slowest quarterly economic surge since the financial meltdown.
The Chinese economy managed to ascend by 6.4% in the fourth quarter of the previous year from 2017, as anticipated. The surge appeared to be slower than the previous quarter's outcome of 6.5%.
For last year the full-year surge accounted for 6.6%, which turns out to be in line with expectations.
On Tuesday, the USD index rallied by 0.1% being worth 96.058.
Market participants are also waiting for further news on the US-China trade clash, as Chinese Vice Premier Liu He is braced for visiting America on January 30 and 31 for another round of trade negotiations.
As a matter of fact, the Japanese yen headed north. The currency pair USD/JPY went down by 0.2% being worth 109.43.
The Chinese Yuan rallied by 0.2% showing 6.8022 because China’s major financial institution had the Yuan reference rate set at 6.7854 in contrast with yesterday’s outcome of 6.7774.
As experts at Morgan Stanley told, they’d turned bullish on China’s currency due to the fact they were assured that China’s major bank would stay away from intervening during trade negotiations.
The currency pairs AUD/USD and NZD/USD went down by respectively 0.3% and 0.1%.
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Yen slips in Asia
More at: http://bit.ly/2R7j9i3
23.01.2019
On Wednesday, the Japanese yen headed south versus its major peers because investor risk appetite improved during Asia trade, although worries over decelerating global surge and US-China trade clashes will probably cap gains in risky assets.
As a matter of fact, the Japanese yen dived by 0.25% against the US currency ending up with a reading of 109.62. Versus the Australian currency, it slipped by 0.5%.
As anticipated, the Bank of Japan kept monetary policy intact and reduced its inflation estimate, with a greater-than-anticipated dive in December export data earlier in the day giving an emphasis to the necessity for continued support for the Japanese trade-reliant economy.
Moreover, the Australian dollar headed north by 0.2% against the evergreen buck reaching $0.7137.
For recent week the foreign exchange market has been whipsawed because investors attempted to come to terms with an array of issues from Brexit to decelerating global surge and the outlook for key major financial institutions.
Nervousness around global surge as well as trade clashes - these are the factors powering the financial markets now, as some analysts explained.
The International Monetary Fund had its 2019 and also 2020 global surge estimates trimmed, explaining that move by a greater-than-forecast deceleration in the Eurozone and China. The organization also stressed that the inability to resolve trade clashes could further impact a decelerating global economy.
The previous year’s surge in China turned out to be the slowest since 1990. What’s more, it’s braced for weakening further in 2019 before stimulus measures start kicking in.
Market participants are hoping for a significant progress in US-China trade negotiations, with the tariff conflict between the world's leading economies already affecting financial markets as well as global demand.
A report by the Financial Times that America had rejected the Asian country’s proposal for preparatory trade negotiations impacted risk sentiment overnight. However, later it was debunked by a White House adviser.
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RSI (Relative Strength Index)〽
RSI also helps to determine the overbought/oversold state of the market to buy low and sell high. The readings of the indicator fluctuate between 0 and 100. If RSI rises above 70 bound, it means that the pair is overbought. If RSI falls below the 30 line – the currency pair is oversold. Moreover, as with MACD, a divergence between RSI and price may warn of the market's reversal..
We are going to learn! ⤵
http://bit.ly/2CKNzBM
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Weekly Cryptonews
Read more: http://bit.ly/2HEnM3U
25.01.2019
Martin Weiss, the founder of Weiss Ratings: “Like gold, Bitcoin and other cryptocurrencies could become a haven for investors who flee from fiat currency devaluations. In fact, in one key aspect, it may be even better than gold: It cannot be confiscated by any government.”
Tuesday happened to be the most volatile day for Bitcoin this week, as the cryptocurrency fell below the $3,500 level, but managed to rebound quickly to the levels near $3,600. On the H4 chart, we can see that the grandfather of cryptocurrencies has been trading within the $3,586-3,642 range for the last three days. The rebounds from these levels may be used to open positions. For now, Bitcoin has already tested the ground below the support at $3,586. If this level is broken, the next support lies at $3,563. In case bulls get stronger, they may push its price above the resistance at $3,642. The next resistance is placed at $3,658. However, the overall picture of the market and the trend are still bearish. That is why we may expect further falls.
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Other news:
Chicago exchange CBOE has canceled its request to approve VanEck and SolidX Bitcoin ETF (exchange-traded funds) due to the current government shutdown. It plans to ask for the approval again when the Security exchange commission starts to work.
Cryptocurrency bank Galaxy Digital plans to invest $250 million to issue credits to blockchain companies, which struggle with the bear market.
The candidate for the US president post, a huge supporter of crypto and the founder of the famous antivirus software John McAfee left the country after he was indicted on charges of tax fraud.
The market anticipates the presentation of the TON blockchain network and GRAM token by Pavel Durov during the World Economic Forum this week. This is a highly important event, which may affect the market positively. According to the news, TON will be launched in March.
The “World Economic and Social Survey 2018” report by the United Nations said cryptocurrencies and blockchain allow to switch their confidence from banks and governments to program codes.
Regulations:
Japanese Regulators Approve Startup’s Bitcoin Sidechain Trial for Exchanges
Chili and Romania plan to apply taxes on crypto operations’ income.
The United Arab Emirates and Saudi Arabia develop a cryptocurrency for payments between banks or governments.
Bitcoin $3,656.5
Ethereum $118.45
Litecoin $33.31
DASH: $76.00
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LESSON 10. Calculating value of a pip
In order to calculate the value of one pip in a currency pair, you have to multiply the amount of your trade in lots by one pip in a decimal form (0.0001 or 0.01), and then divide it by the current exchange rate of the quote currency to the US Dollar.
Lot is given in units of our base currency.
Let’s get to learn!
➡ http://bit.ly/2MCQ5OE
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The Fed’s comments may move the USD higher
Check more: http://bit.ly/2WrRgFu
29.01.2019
The Federal Reserve and the FOMC will make the monetary policy statement and announce the official rate on January 30 at 21:00 MT time.
There is no chance that the Fed will raise its current 2.5% interest rate. In addition, the recent dovish comments by the FOMC members and the Fed Chair Jerome Powell signaled the pause in rate hikes if the US economy weakened. In case the monetary policy statement contains some positive data, the USD will get positive momentum.
• If the FOMC statement is hawkish, the USD will rise.
• If the FOMC statement is dovish, the USD will fall.
Check the economic calendar
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Budget Management Tips. *
A lack of money management skills can cost you everything you have on your trading account – even if you are good in everything else. What can you do to enter, stay, and profit on the market through money management? Read on and see.
We analyzed the most popular money management strategies and picked the most valid tips for those who want to maximize their investment effort.
Let’s get learn more about this!⤵ ⤵
http://bit.ly/2RuG07C
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Average True Range
Average True Range (ATR) is an indicator of market’s volatility. In other words, it helps to determine the average size of the daily trading range. ATR rises when trading is more volatile (price bars are long) and falls during periods of low volatility (price bars are short). Use ATR to determine the best position for Stop orders.
We are going to learn! http://bit.ly/2Ruo7p7
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Trading strategy with a dead cat bounce
➡ http://bit.ly/2RuELoU
Imagine that you trade your favorite currency pair in the long-lasted bear market. Suddenly, the price has started to go up. However, don’t get confused too quickly. There is a possibility that you faced with a so-called dead cat bounce. Wait, don’t be scared, FBS carries about animals and the environment! This is just the name of the short-term retracements. But they may actually be “deadly” for you, especially if you do not know how to trade during this situation and how to divide such bounce from the actual reversal. In the article, we provide you the explanation of the dead cat bounce and the trading strategy, which may be used to trade during this kind of reversal.
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LESSON 11. Brokers and practice accounts
Your broker is a company, which provides the software and the infrastructure you need to make trades in the Forex market. As a reward for the services trader pays broker spread or commission.
When choosing a broker pay attention to the company’s goodwill, age, and regulation.
Let’s get to learn!
http://bit.ly/2UEMJgW
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Trade on the NFP release
http://bit.ly/2MPUzSd
The level of non-farm employment change, also known as the non-farm payrolls or the NFP is one of the most high-valued indicators in the economic calendar. Traders and investors give it the same level of importance as to the monetary policy meetings and speeches by the heads of the central banks. This indicator makes the market very volatile, and you can create a profitable strategy based on it. FBS analysts will explain to you what strategy is more suitable for trading NFP.
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Will the Bank of England make the GBP stronger?
Read more at: http://bit.ly/2TEaRk0
06.02.2019
The Bank of England will release its monetary policy summary on February 7 at 14:00 MT time.
The bank will hold its interest rate unchanged at 0.75%. We anticipate the Bank of England to provide the comments on the possible rate hikes in 2019. Last time, the BOE mentioned the Brexit uncertainty as the key problem for the UK economy and lowered the economic growth and CPI projections for the fourth quarter of 2018. As a result, the GBP fell. Let’s see if this time the central bank succeeds to support the British currency.
• If the BOE is confident, the GBP will rise;
• If the BOE is unconfident, the GBP will fall.
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The jobs data may push the CAD up
More at: http://bit.ly/2MTT5qd
07.02.2019
Canada's jobs data is expected on February 8, at 15:30 MT time.
The employment indicators are very important, as they show the level of consumer spending in the country. Last time the actual figures supported the CAD. In particular, the level of employment change reached 9.3 thousand jobs (vs. the forecast of 6.8 thousand) and the unemployment rate fell to 5.6% (vs. the forecast of 5.7%). If this time the situation repeats itself, the CAD will be stronger.
• If the employment change is higher and the unemployment rate is lower than the forecasts, the CAD will move up;
• If the employment change is lower and the unemployment rate is higher than the forecasts, the CAD will fall down.
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China’s new bank loans head north in January
More at: http://bit.ly/2E1omEV
08.02.2019
In China, new bank loans tacked on to a one-year maximum in the first month of this year, as a Reuters survey disclosed. It became possible due to the fact that the Chinese cabinet kept spurring commercial lenders to extend more credit to cash-strapped businesses in a decelerating economy.
In January, Chinese financial institutions were anticipated to have extended up to 2.8 trillion Yuan in net new loans, which is more than December’s outcome of 1.08 trillion Yuan. It would be the highest outcome since the record result of 2.9 trillion Yuan demonstrated in January 2018.
For the entire 2018, the Asian country’s financial institutions extended a record 16.17 trillion Yuan in new loans after the major financial institution on four occasions in 2018 reduced the amount of cash that they needed to keep as reserves.
However, it didn’t stop the world's number two economy from soaring at the weakest tempo since 1990. Market experts told that a faster tempo of credit expansion is required to keep the American economy from decelerating too fast.
In January, the country’s major bank cut the reserve requirement ratio for financial institutions by 100 basis points, thus stimulating them to lend more. Market experts expect a further 150 bps dive by year-end.
At the end of 2018, China’s major bank has also deployed fresh tools, including the Targeted Medium-Term Lending Facility. The measure is expected to provide longer-term liquidity for financial institutions to back loan surge.
However, China isn’t anticipated to flood the national financial system with credit at once. Instead, the major bank will stick to its line on keeping policy neither too loose not too tight.
Previously, some sources revealed that the PBOC urged some financial institutions to moderate their tempo of lending last month.
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5 important things this week will bring us!
Read more: http://bit.ly/2GBAEWb
11.02.2019
Britain’s GDP and manufacturing production (Mon, 11:30 MT (9:30 GMT) time) – According to analysts, British GDP growth will remain at the same level. As for the level of manufacturing production, it is expected to advance by 0.2%. Higher-than-expected figures will support the British pound.
New Zealand's monetary policy statement and press conference (Wed, 3:00 and 4:00 MT (1:00 and 2:00 GMT) time) – The rate hike is not going to happen, but the tone of the statement, as well as the comments by the RBNZ governor Adrian Orr during the press conference, may provide additional volatility to the NZD.
Britain’s CPI (Wed, 11:30 MT (9:30 GMT) time) – The level of consumer price index for Great Britain is anticipated to decline to 1.9% in January. If the actual figures are higher, the GBP will be supported amid the Brexit uncertainties.
US CPI and core CPI (Wed, 15:30 MT (13:30 GMT) time) – As for the US indicators, the headline CPI is expected to increase by 0.1%, while its core level (without food and energy) will rise by 0.2%. If the data is even more positive, the USD will strengthen.
US PPI, retail sales and core retail sales (Thu, 15:30 MT (13:30 GMT) time) – Finally, on Friday the USD may rise due to the following releases. Analysts predict the levels of retail sales and PPI to increase by 0.1%. As for the level of core retail sales, it is projected to stay at the last month’s levels.
Hot topics:
Brexit remains one of the key uncertainties for the market and for the British pound in particular. The next Brexit debates at the Parliament are scheduled for February 14. During this meeting, the British Prime Minister Theresa May is expected to announce the results of her negotiations with the EU. However, May’s attempts to make changes to the current deal were rejected by the President of the European Commission Jean-Claude Juncker last week. That is why this meeting won’t be final in the long-lasting Brexit drama. Reportedly, the next vote on Theresa May’s deal is likely to happen no earlier than on February 25-27. As the final deadline for Britain's divorce with the EU comes closer, Theresa May wrote a letter to the Labor opposition leader Jeremy Corbyn suggesting a discussion between the parties to consider "alternative arrangements" to the Irish backstop. If her negotiations are successful, this may bring support to the British pound.
The third round of trade talks between the US and China is expected this week in Beijing. The previous discussions were successful but did not lead to the final deal. This meeting will impact the market sentiment a lot, as the investors will be looking for any significant progress ahead of the final deadline of the trade truce on March 1.
Also, the US government may be shut down again, if the officials do not reach an agreement on Trump's demand for funding the wall between the US and Mexico until February 15. If it happens, the USD will be affected.
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Trading strategy for the Head and Shoulders pattern.
http://bit.ly/2SKmGru
In technical analysis, there are different chart patterns which help you to determine the further direction for the price. In the broadest sense, all of these patterns are divided into the two large groups: reversal and continuation chart patterns. You can learn how to define them in our Forex Guidebook. Today, we will present you the trading strategy for one of the most commonly known patterns. Of course, we are talking about the Head and shoulders pattern.
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European equities rally as earnings surge expectations stabilize
More at: http://bit.ly/2DzCzr1
13:12 13.02.2019
On Wednesday, European equities went up because upbeat mood about Washington and Beijing trade negotiations backed global markets, while data revealed that earnings surge estimates for the European Union are stabilizing after abrupt downward revisions.
The STOXX 600 rallied by about 0.3%, while Germany's DAX leapt by up to 0.2%.
Asian stocks and Wall Street also soared because expectations strengthened that China and America will come to a compromise and dodge another round of American levies on imports from China expected to kick in by March 1.
Madrid's IBEX headed south by 0.1% in the face of reports that Spain's minority Socialist cabinet could announce an early general election on the condition it loses a budget vote after its refusal to have Catalan self-determination negotiated.
In the face of all the intricacies of Brexit, London's FTSE outperformed a bit, heading north by 0.4% after data revealed that UK inflation declined to a two-year minimum in January.
Dutch bank ABN Amro, affected by loan impairments, headed south by 6.3% with fourth-quarter net gain below analysts’s estimate.
Dutch blue chip counterpart Heineken was differently welcomed by the market, tacking on by up to 4.3% and set for its best performance since 2015 on better-than-anticipated outcomes.
Akzo Nobel, the paint maker in the Netherlands ascended by 3.9% having marginally surpassed expectations.
The euro zone's number one asset manager, Amundi was also appreciated by market participants, adding 4.3% having confirmed its profit objectives for 2020, notwithstanding negative market conditions in the fourth quarter.
Among other companies whose outcomes stood out in morning trade, we should mention Ingenico that gained 7.2%, online gambling company Kindred Group that ascended by 5.8% as well as Swedish Match with its 7.5% leap - the top performer of the STOXX 600.
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Market conditions I: Trends http://bit.ly/2tmLtDR
The market isn’t always the same. In order to choose the best trading strategy, you need to understand the market’s condition. Always start your technical analysis by identifying the market’s condition.
There are two types of market conditions: trend and range. Let’s study this time, the first one.
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Wall Street jumps on US-China trade upbeat mood
More at: http://bit.ly/2S5MkT9
15.02.2019
On Friday, Wall Street's key indexes were braced for reporting their biggest weekly profits for a month because traders were quite optimistic about the everlasting trade negotiations to tackle a bruising tariff clash between China and America.
Donald Trump told that negotiations with China are going well and his country is very close to making a good deal with the Asian partner. Next week, talks between the world’s two leading economies will resume in the USA.
Expectations for a trade pact ahead of a March 1 deadline has assisted the trade-sensitive industrials to earn about 17% this year, thus making it the best S&P sector in terms of performance.
The group went up by 1.13% backed by bellwethers Boeing Co as well as Caterpillar Inc.
The markets generally neglected US leader declaring a national emergency in an attempt to finance his announced wall at the US-Mexico border without congressional approval.
Notwithstanding the threat of a national emergency, all 11 key S&P sectors managed to ascend, with financials soaring by 1.89%, becoming the top-notch performer.
The banking sector ascended by 2.62% backed by key American lenders. As a matter of fact, Wells Fargo, Bank of America Corp, and JPMorgan Chase & Co tacked on 1.7%-3% right after Warren Buffett's Berkshire Hathaway ramped up its stake in the companies.
ET the Dow Jones Industrial Average headed north by 1.36% being worth 25,785.36. As for the S&P 500, it jumped by 0.82% hitting 2,768.25, while the Nasdaq Composite rallied by 0.38% reaching 7,455.49.
The S&P jumped over 10%, powered by a dovish Federal Reserve, progress on trade as well as a mostly positive fourth-quarter earnings reports.
Nvidia Corp headed north by 2.5%, while Newell Brands Inc lost 20.4%.
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