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Forex daily News FBS
News to trade on November 1
Check the candles: http://bit.ly/2CVcjsD
01.11.2018
The main event for today is the Bank of England monetary policy summary and the press conference held by Mark Carney afterward. While there is no expectation of a rate hike, the GBP can be supported by the hawkish comments. Yesterday the UK Brexit minister Raab was confident about reaching the Brexit deal on the 21 of November. It lifted GBP/USD towards the resistance at 1.2895. Hawkish statements by the Bank of England can make the pair to stick above2895. Negative news can push the cable down to the support at 1.2704.
The Chinese government announced further plans for stimulating the economy as the manufacturing data continues to decline, following the trade tensions between the US and China. It lifted the risk-on sentiment among the investors and made the risk currencies, such as the aussie and the kiwi to rise. AUD/USD crossed the resistance at 0.7134 towards the next resistance at 0.7164 (50-day MA). If the USD is strong or the uncertainties across the equity market increase, the pair will drop below the support at 0.7077. As for NZD/USD, the pair followed the same scenario. Up to now, it is testing the resistance at 0.6594. Strong USD will make NZD/USD to drop below 0.6529.
The Chinese yuan, in its turn, rose from its weakest level. USD/CNH fell below the support at 6.9529. The next support is at 6.9287. If the USD is strong, the pair will go up to the resistance at 6.9522.
The US dollar index is declining following the strong gains across the equity markets. The next support for the price lies at 95.15. The upcoming release of manufacturing PMI for the US at 17:00 can change the situation. Despite the index is expected to drop to 59 from 59.8 points, a higher-than-expected data can support the USD. In that case, the resistance for the price lies at 96.76.
It seems like the risk-on market sentiment does not affect the direction of the price for the Gold. The price surged above the resistance at $1,221. However, higher-than-expected ISM manufacturing PMI can support the USD and thus push the commodity downwards the support at $1,208.
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Weekly CryptoNews
More at: http://bit.ly/2PzZcnf
02.11.2018
Tom Jessop, head of Fidelity Digital Asset Services: “I think we are starting to see an acceleration… I don’t know what phase (innovator, early-adopter, early majority, etc.) we are in, but I think that with some of these recent announcements we are now seen as this interesting and transformative asset class… So, we can expect more news heading into 2019 that raises the bar and helps growth in the [crypto and blockchain] market.”
Happy Birthday, Bitcoin! 10 years ago Nakamoto published the whitepaper of the granddad for all cryptocurrencies. It has been a complicated period for the digital asset with its ups and downs, however, a lot of achievements have been made since the beginning of its route. We wish it more recognition and adequate regulations in the upcoming years. Finally, to reach the moon!
Last days Bitcoin was making small movements towards this direction. Digital asset rose from the fall after the hacking attack of the Canadian crypto trading platform MapleChange. On Thursday, the price for Bitcoin tested the resistance at $6,394. If Bitcoin is supported by positive events, it can rise to the next resistance at $6,509. In case of negative news, the pair will fall to the support at $6,334. In case of the breakthrough, the next support at $6,218.
Altcoins:
Stablecoin Tether stabilized, however, it has lost around 1 billion of its capitalization.
Regulations:
Financial Services Authority (FSA) will review the ban of crypto derivatives in 2019.
New releases:
Canadian crypto trading platform Maplechange announced the hackers stole all of its money and afterward deleted its site. Scam alert?
Bank of America patented the method of holding private keys, which can be used in cryptocurrencies.
Ernst&Young presented a new tool for private transactions on the Ethereum public blockchain, using a protocol with zero disclosure.
Vitaly Buterin announced Ethereum 2.0, which will work on POS-mining.
Hong Cong trading platform HKEX will apply Blockchain to analyze the trading results.
Bithumb will launch a platform with security tokens in the US as a partnership program with SeriesOne investment company.
JP Morgan is planning to tokenize gold using its blockchain Quorum.
Venezuela’s controversial cryptocurrency Petro was released. It can be bought only from the Superintendency of Cryptoassets and Related Activities (Sunacrip).
Other:
John McAfee will run for president in 2020 to promote cryptocurrency. Will he make Bitcoin great again?
Bitcoin $6,406.8(+0.57%)
DASH $157.6 (+0.46%)
Ethereum $200.35 (+0.89%)
Litecoin: $50.5 (+1.90%)
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5 important things this week will bring us!
More at: http://bit.ly/2QktRCp
05.11.2018
US ISM non-manufacturing PMI (Mon, 17:00 MT time) – the level of business conditions for the service sector is expected to moderate from 61.6 to 59.3 for October. The increase of the index in September was unexpected and connected with an improvement in the sub-indices. If the actual level outperforms the forecasts, the US dollar index will rise.
Reserve bank of Australia (RBA) rate statement (Tue, 5:30 MT time) – we do not anticipate the rate hike, however, the press release may contain clues to the future revisions of the bank's policy.
Reserve bank of New Zealand rate statement (Wed, 22:00 MT time) – the central bank of New Zealand will conduct its press conference. As well, we expect the interest rate to remain at 1.75%, but the bank can throw some hints on changing its monetary policy.
US Federal funds rate and the Federal open market committee (FOMC) statement (Thu, 21:00 MT time) – We can expect the FOMC to downgrade its assessment of business investment growth after the slowdown in nonresidential fixed investment growth. The falls in equity prices tightened the financial conditions of a country, so the FOMC may discuss some measures to support the economic conditions.
British preliminary GDP q/q (Fri, 11:30 MT time) – the economic growth for the 3rd quarter is forecast to increase to 0.6%. A higher-than-expected level will support the GBP.
Hot topics:
The US anticipates the midterm congressional elections on Tuesday, November 6. The preliminary data suggests Democrats are most likely to take control of the House, while Republicans will continue to control the Senate. If the Republican Party keeps controlling most of the sits, the USD will be supported. In case Democrats will win, the greenback most likely will fall.
UK Brexit Secretary Raab continued the negotiations on the Irish border. He wants the UK Prime minister Theresa May to take the hard line over it. Earlier, she announced the final paper on Brexit deal will be out on Tuesday.
The Chinese president Xi made a statement about his plans on the open country economy to the world amid the trade war with the US.
Have a successful week of trading!
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How to use volume indicators in trading?
http://bit.ly/2PErSf7
Forex market is decentralized so it’s not possible to count all the contracts and their sizes like it’s done at stock markets. As a result, Forex traders use indicators of tick volume. Read in this article how to work using volume indicators.
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News to trade on November 7
Here the candlesticks: http://bit.ly/2Qm0mjC
07.11.2018
During the mid-term Congressional elections in the US, the Democrats took more than 30 sits in the House of Representatives. The Republicans will have the control of the Congress. The divided Congress will make it difficult for US president Trump to apply any arguable domestic reforms such as immigration reform and reform on infrastructure investments. That is why analysts anticipate Trump to pay attention to foreign and trade policies. The election results weakened the USD, making the US dollar index test the support at 95.72. If the USD is supported, the index will rise towards the resistance at 96.35. Otherwise, it will fall below 95.72.
The weak greenback strengthened other key currency pairs.
The pair EUR/USD got the upside momentum from the election results and the risk-on sentiment in the equity market. For now, it is testing the resistance at 1.1461. A further weakness of the USD will help the euro to stick above 1.1461. However, negative news in the Eurozone can pull the pair downwards to the support at 1.1381.
GBP/USD continues to move up on this week’s Brexit hopes and election results. Yesterday, the cable rose to the resistance at 1.3105. More concerns on the Brexit outcome can help the pair to climb above 1.3105. The next resistance lies at 1.3248. However, new uncertainties can push GBP/USD below 100-day MA at 1.3036. In that case, the support level to watch is at 1.2899.
The weak USD also affected USD/JPY. The risk-on sentiment in the equity markets did not hold the pair near the resistance at 113.797. On a daily chart at 10:30 MT time, the election results made the USD to trade against the JPY in the red zone. If the pair extends falls, the support is at 112.785. In case the USD is supported by the news, the pair will return to the resistance at 113.797.
In other news, the most anticipated event for today from the economic calendar is the press conference of the Reserve bank of New Zealand at 23:00 MT time. No major changes to its monetary policy are expected, however, the bank can surprise with the hawkish comments, especially after yesterday's strong employment release. The unemployment rate fell to 3.9% (vs 4.4% expected) and employment change increased by 1.1% (vs. 0.5% expected). As a result, the NZD blew off crossing the resistance at 0.6719. For now, NZD/USD is targeting the resistance at 0.6793. New negative comments on the trade war can weaken the kiwi and push it below 0.6719. Hawkish comments from the RBNZ can help it to stick above 0.6793.
Yesterday, Iran’s oil minister said the sanction from the US would not cut Iran off the oil markets. Earlier, Trump commented the sanctions would come into effect slowly to avoid the high prices. In addition, the US allowed 8 biggest importers keep buying Iranian oil. Brent fell to its August levels trading near $71.94 per barrel. The support for the price lies at $70.47. Today we anticipate the release of crude oil inventories. If the data is lower than the forecast, the prices will rise and the resistance to watch is at $74.24.
As for WTI, it fell to $61.94 per barrel. The next support is at $61. Shortage of oil production will push the price to the resistance at $64.45.
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Beginner most common questions about Forex.
When is Forex market open?
There are trading sessions which correspond to the time during which stock markets are open in a particular region of the world. Learn more about this here http://bit.ly/2DdAUJt
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Weekly CryptoNews
More at: http://bit.ly/2zAGDVW
09.11.2018
BitMEX CEO Arthur Hayes: “Contrary to popular belief, Bitcoin requires volatility if it is ever to gain mainstream adoption. The price of Bitcoin is the best and most transparent way to communicate the health of the ecosystem. It advertises to the world that something is happening–whether that is positive or negative is irrelevant.”
The week started bullish for Bitcoin. On Wednesday, the price crossed the resistance at 50-day MA at $6,516 and afterward tested the next psychological resistance at $6,563. However, it failed to continue moving towards $6,662 and bounced back below $6,516. Despite the market speculations, the volatility of the digital asset remains extremely low. ATR is situated at its lowest levels. If buyers take over, it can push the price towards $6,516 again. In case of a bear market, the support lies at the pivot point at $6,400.
Other news:
Regulations:
The People's Bank of China is planning to ban airdrop as it can be used for conducting hidden ICOs.
Taiwanese financial regulator banned anonymous crypto transactions and obliged trading platforms to pass personal data of clients to it.
The Swiss financial market supervisory authority advised banks to set the risk coefficient for crypto assets at 800% to cover market and credit risks, regardless of whether the positions are held in the banking or trading book.
Tax regulating department of Thailand is planning to use blockchain for following the tax evasions.
Government banks of Venezuela started to show the sum on clients’ accounts in Petro cryptocurrency.
The Brazilian prosecutor's office started the investigation of the money-laundering through Deltec Bank which is Tether partner.
The BBVA bank from Spain gave the first credit with financial data recorded in blockchain Ethereum. The approximate sum of the loan is $150 million.
The French government will make the taxation for crypto asset owners easier. The tax will reduce from 36% to 30%.
New releases:
OKEx launched margin trading of XRP/BTC and LTC/BTC. As a result, Ripple rose and outperformed Ethereum, while Litecoin ignored the news.
It’s now possible to buy Litecoin for the fiat currencies at Litecoin.com.
Events to trade on BTC, Ethereum, Litecoin and Dash in the upcoming week:
November 12 - Bitcoin (BTC) - Bakkt Bitcoin BTC Futures Launch
November 15 - Bitcoin Cash (BCH) - Hard Fork
Bitcoin $6,406.8(+0.57%)
DASH $168.1 (-5.9%)
Ethereum $200.35 (+0.89%)
Litecoin: $50.5 (+1.90%)
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LESSON 21. Position size, level of risk http://bit.ly/2z0tBBK
Imagine you put $1000 on your deposit and you want to trade. Should you use the entire sum at once? Probably not: remember how we spoke about risk management? So, which position size to choose then?
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News to trade on November 13
Check the candles! : http://bit.ly/2B3uBGx
13.11.2018
The British quarterly average earnings report was released today at 11:30 MT time. It reached 3% in this quarter as well as it was expected. It gave a positive momentum for the British pound. Hopes that the British Prime Minister Theresa May will present a draft of a workable Brexit deal by the November’s EU summit exist but still not clear.
Yesterday the strong US dollar in a combination with never-ending Brexit tensions made the cable form a gap and test the support at 1.2817. Today’s release helped the British pound to test the resistance at 1.2896. However, more negative news on Brexit can push the pair below 1.2817.
Italy is expected to resubmit its unfortunate budget today. Last month the European Commission rejected its budget, due to the lack of deficit control. However, Italy made very little changes to it. So, if the European Commission changes its mind today, watch EUR/USD turns bid.
As we can see from the chart, yesterday a strong US dollar pushed the pair below the psychological level at 1.13 and made it fall below the next support at 1.1265. A series of lower highs created a bearish scenario for the pair. If the Italian budget to be approved today, the pair will have a chance to cross 1.1265. The next resistance lies at 1.13. In case of more uncertainties, the next support lies at 1.1197.
During the Asian session, Chinese trade war negotiator announced his plans on visiting the US for trade talks. He attempts to ease rising trade tensions ahead of a meeting of Chinese president Xi and US president Trump.
As a result, the Australian dollar bounced from the support at 0.7171 and is heading towards the resistance at 0.7237. If the bullish pressure continues, the aussie can stick above 0.7237. The strong USD can pull the pair below the support at 0.7171. The next support for the pair lies at 0.7117.
As for NZD/USD, the pair is testing the resistance at 0.6726. The next resistance lies at 0.6825. If the USD is strong, the pair can fall downwards to the support at 100-day MA at 0.6658.
Positive update of the trade negotiations increased the risk-on sentiment across the Asian equity markets. That is why USD/JPY is targeting the resistance at 114.268. The bullish pressure will help the pair to stick above 114.268. If the USD is weak, the pair will fall below the support at 113.609.
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News to trade on November 14
More at: http://bit.ly/2QMaRgp
14.11.2018
The British pound will be in focus today. At first, today's CPI release increased by a lower-than-expected level of +0.1%.
After that, Theresa May is scheduled to meet with her cabinet to discuss the draft Brexit agreement at 16:00 MT time. If the Cabinet agrees, the next step will be to get the approval at the House of Commons. For now, the DUP from Northern Ireland and the Labour leadership expressed their negative opinions. However, Theresa May thinks the fear of a no-deal Brexit can drive Conservatives and Labor party to support the agreement.
According to newspapers, the UK Cabinet Ministers Raab, Hunt, Javid, Gove, and Cox said they would agree on the draft Brexit paper.
Up to now, Brexit headlines are driving the pair.
Higher-than-expected CPI data can give a positive momentum to GBP/USD and help it to cross 50-day MA and 100-day MA and test the resistance at 1.3036. If the Brexit agreement will be approved, the cable will stick above 1.3036. However, if more uncertainties take over the market, the pair will fall below the 1.2896 support.
CPI of the US is also gaining attention today at 15:30 MT. Analysts expect it to rise by 0.3% in October. As for the core CPI, it is forecast to increase by 0.2%. Comments by Chinese president Xi ahead of his meeting with President Trump at G20 and positive mood across the equity markets weakened the US Dollar, however, the inflation data can support the currency.
On the daily chart of the US Dollar index, the index is trading lower than yesterday. If CPI is higher than expected, the index can rise above the resistance at 97.21. Weak CPI data and risk-on sentiment among traders can pull it down towards the 96.35 support.
Yesterday the Italian government kept the budget targets for deficit and GDP for 2019 unchanged. In response, the European Commission may initiate the immoderate deficit procedure. If the USD gains after the CPI release, EUR/USD will fall below the support at 1.1265. If the bearish pressure for the pair weakens, the pair will stick above the resistance at 1.13.
In its latest monthly oil market report, the International Energy Agency (IEA) cut the demand forecasts for the OPEC crude oil for 2019. Up to now, WTI is trading at November 2017 levels, testing the resistance at $56.26. If the easing of the sanctions continues, WTI can fall towards the next support at $53.25
Have a successful trading!
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Bid and Ask price. Spread
Learn more about this here http://bit.ly/2PwbihW
There are 2 types of currency prices at Forex are Bid and Ask. The price we pay to buy the pair is called Ask. It is always slightly above the market price. The price, at which we sell the pair on Forex, is called Bid. It is always slightly below the market price.
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Everyday several financial occurrences are occurring towards the entire universe which has direct impact on Forex. Due to this impact market moves faster. So keeping news over the market is necessary for accomplishing market analysis. Several brokers offer daily signal to the traders for the welfare of them and among them Trade12 is one which is active in issuing daily signal to the traders indeed.
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Japanese exports rebound in October
More at: http://bit.ly/2zf2jrm
16.11.2018
In October, Japan's exports rebounded following dives provoked by a series of natural disasters. That’s what a Reuters survey disclosed on Friday. However, fears over global demand as well as the US-China trade conflict still pressure.
Exports were anticipated to leap by 9% in October from 2017. That’s the fastest tempo of gain since January, according to the interview of 16 financial analysts. In September, they dived by 1.3%.
As for imports, they rallied by 14.5% from 2017, providing a trade deficit of up to 70 billion yen.
Financial analysts told that the overall tempo pace of expansion in global trade is currently decelerating and Japan’s exports surge has appeared to be quite sluggish. However, they’re assured that adverse impacts from natural disasters diminished.
Notwithstanding the fact the American economy is firm enough, but the economies in other areas are slumping, thus impacting global trade, including Japan's exports.
The finance ministry is expected to uncover the trade data at 8:50 a.m. on November 19.
In addition to this, the survey also disclosed that the nationwide core consumer price index without fresh food prices, but with fuel costs managed to head north by up to 1% in October from 2017. That’s a steady outcome from September.
Besides this, financial analysts added that leaps in crude prices till September probably assisted to ramp up costs of energy-related items, although those weren’t firm enough to have the core CPI underpinned.
Furthermore, the Japanese government is expected to uncover the CPI data on November 22 at 8:30 a.m.
As a matter of fact, Japan's economy headed south more than anticipated in the third quarter, affected by natural disasters as well as a dive in exports. That’s a worrying sign that trade protectionism is starting to heavily impact overseas demand.
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5 things you need to know this week
More at: http://bit.ly/2QeKqmx
19.11.2018
Reserve bank of Australia monetary policy meeting minutes (Tue, 2:30 MT (00:30 GMT)) – the central bank is anticipated to repeat its positive economic forecasts, at the same time being cautious about the further steps in monetary policy.
Speech by the Bank of Japan governor Kuroda (Tue, 5:30 MT (3:30 GMT)) – On Monday the Japanese governor Haruhiko Kuroda said about the good conditions of the economy. BOJ will continue to conduct its ultra-loose monetary policy, according to his words. He mentioned the declining profits of regional banks as one of the risks of destabilizing the financial system. We will see, how his speech in Tokyo on Tuesday can affect the Japanese currency.
British inflation report hearings (Tue, 12:00 MT (10 GMT)) – the Governor of the Bank of England and the monetary policy committee are scheduled to present the inflation report to the Parliament.
US Core durable goods orders m/m (Wed, 15:30 MT (13:30 GMT) – the indicator is expected to rise by 0.4%. It represents the change in the total value of new purchase orders for durable goods, excluding transportation items.
Canadian CPI and core retail sales m/m (Fri, 15:30 MT (13:30 GMT)) – Last months' digits for both of the indicators disappointed the investors. They fell by 0.4% (vs. expected rise of +0.1%). The forecasts have not been released yet, but we are awaiting them closer to the release. If this month's data is higher than the expectations, the Canadian dollar can gain.
Hot topics:
US vice president Mike Pence fueled the tensions between the US and China during the APEC talks in Papua New Guinea. He warned APEC nations against taking Chinese loans. At the same time, Chinese president Xi expressed his negative opinion on US tariffs. The disagreement on WTO reforms led countries to failure on reaching a consensus on the final statement after two days of speaking. As for the US and China, this weekend added doubts on reaching a further deal during the meeting of US president Trump and Xi Jimping at the G20 Summit.
Brexit news keeps attracting the attention of the market. For now, Theresa May received 42 votes of no-confidence. If this number reaches 48, the possibility for May to stay as a leader of the party and the prime minister will decline. In addition, Michel Barnier suggested prolonging a transition period for Great Britain to December 2022. We anticipate the special EU summit on November 25 as a date for discussing the deal between sides.
Oil fell after the comments made by Iranian president Rouhani. He noted that the US failed with sanctions. Iran will continue to supply oil to other nations.
The European Commission is expected to deliver its response to the proposal of the revised Italian budget on Wednesday. Earlier, Italy left its deficit target unchanged at 2.4 percent in 2019. Future uncertainties can shake the euro.
Have a successful week of trading!
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News to trade on November 20
Check the candlesticks: http://bit.ly/2Q94tTf
20.11.2018
The British pound started to recover yesterday after Theresa May’s comments on Brexit during the CBI conference. In addition, the rumors on submitting the no-confidence vote in her leadership started to fade after ministers failed to reach the target of 48 letters. Today, the Bank of England Governor Mark Carney testified the inflation report to the parliament. According to his words, BOE is not going to provide additional analysis of a no-deal Brexit scenario and look at a scenario related to the withdrawal agreement. In addition, BOE policymaker Michael Saunders commented on slowing economic conditions due to Brexit and announced the gradual tightening of the policy. The mixed comments resulted in GBP/USD trading sideways during the day. If there is more positive news on Brexit, the British pound can stick above the resistance at 1.2874. Dovish comments and negative news will move the pair down to the support at 1.2677.
OPEC-Joint Ministerial Monitoring Committee will have a meeting later today. Earlier, The International Energy Agency (IEA) Chief Faith Birol said the oil prices are entering the time of uncertainties. More comments from OPEC members can shake the oil market.
Crude is trading sideways while the comments from leaders on oil supply keep affecting the market. If the comments during the OPEC meetings are related to the reduction of oil production, Brent can rise towards the resistance at 67.86. Otherwise, it will fall downwards to the support at 63.85.
As for WTI, the uncertainties on the market yesterday formed a hanging man candlestick. It demonstrates the strong resistance at 57.48. The cut of the production can help WTI to stick above 57.48. More comments on unsuccessful US sanctions will make WTI drop towards 53.69.
Yesterday, International Monetary fund warned about the risks in the Australian economy. The key topics included the path of lower interest rates by RBA, slowing in the housing market and risks from trade tensions. In addition, the RBA announced the possible rate hike during the next meeting. However, it did not have a major effect on the AUD, as the risk-off sentiment across the technical stocks’ holders drove the aussie below the central pivot at 0.7237. Today, AUD/USD has tested the 50-day MA. If the risk-off sentiment escalates, the support for the AUD/USD lies at 0.7216. Otherwise, it will rise upwards to the resistance at 0.7390. In addition, the trade tensions between the US and China keep being the market mover. That’s why this news may affect the Australian currency.
The New Zealand dollar was supported today by the stronger milk production data. The trade tensions between the US and China will add a downside momentum to NZD/USD. In that case, it will fall towards the support at 0.6820. Otherwise, the first resistance lies at 200-day MA at 0.6882.
The main factors that affecting EUR/USD today are the anticipation of the response to the proposal of the revised Italian budget tomorrow. Italy's deputy Prime Minister Luigi Di Maio suggested the further negotiations on the budget solution with EU authorities without getting rid of main measures in the budget. For now, the spread between Italian and German 10-year bond yields keeps rising. As a result, the EUR has been falling today. If the spread increases, EUR/USD will drown to the support at 1.1350. However, if the USD weakens, it will have the pair to get back its gains. In that case, the resistance lies at 1.1451.
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News to trade on November 21
Candles at: http://bit.ly/2Qe2WLq
21.11.2018
The US dollar index fell from the resistance at 96.69 ahead of the European session.
The release of core durable goods orders today at 15:30 MT time can impact on the further movement of the USD. Analysts expect it to increase by 0.4%. If the actual data outperforms the forecast, it will lift the greenback higher. In that case, the US Dollar index will stick above the 96.69 resistance. The next resistance for the index lies at 97.13. If the actual digits disappoint the market, the USD index will slide towards the support at 95.88.
The risk-off sentiment across the Asian equity markets has continued today amid the further declines on Wall Street. Despite that fact, the Antipodeans started bid on Wednesday after the massive falls yesterday. The weak US dollar can help the aussie to stick above the resistance at 0.7250 (100-day MA). However, the negative news on future negotiations between the US and China can have a negative effect on AUD/USD. For instance, US Trade Representative Robert Lighthizer criticized the trade practices of China, calling them "market-distorting". Further negative news on the trade war ahead of the meeting of the Chinese president Xi and US president Trump in a couple of weeks, as well as the stronger US Dollar, can pull the Australian dollar below the support at 0.7216. The next key level for AUD/USD lies at 50-day MA which acts as a support at 0.7170.
NZD/USD follows a similar scenario. The bullish US Dollar index and negative news on trade negotiations will move the pair down to the support at 0.6756. In case of the increased risk-on sentiment, the kiwi will stick above the resistance at 0.6820. The next resistance is situated at 200-day MA at 0.6882.
What about the European session?
At first, we anticipate the European Commission to make a decision on the revised Italian budget at 13:00 MT time. For now, the unchanged deficit targets in the budget may trigger worries, as Italy is in breach of the EU law. According to European sources, the public debt cannot be higher than 60% of GDP. However, Italy keeps being skeptical and says the expansionary measures are needed to support the whole European economy. If the European Commission disapproves the proposal, it will have a negative effect on the EUR. EUR/USD will likely to fall below the support at 1.1350. If the pair extends falls, the next support lies at 1.1280. However, if the budget targets are successfully renegotiated, EUR/USD will rise towards the resistance at 1.1487.
As for GBP/USD, the British Prime Minister Theresa May is scheduled to meet with the European Commission president Jean-Claude Juncker at 18:30 MT time ahead of the EU summit on November 25 where the official version of the Withdrawal Agreement to be presented. Yesterday GBP/USD fell amid the new uncertaintes. It demanded the Madrid's veto over Gibraltar's future status. Otherwise, it will vote against a deal. However, a single country cannot have a major influence on blocking the agreement. It is worth to mention, Gibraltar has been a major point of contention in British-Spanish relations.
If the British pound is supported by the positive Brexit news, it will go upwards to face the 1.2874 resistance. Further uncertainty will drive the cable down to the support at 1.2677.
The news reported the Saudi Arabian oil production surged to a record high in early November.
In addition, today the Iraq Deputy oil minister announced the OPEC will meet to stabilize the crude's prices and supply. Tomorrow they will meet to discuss the oil output cuts.
WTI was slightly lifted by the news. Yesterday it fell below the pivot support at 53.69. News on production cut will help WTI to rise above 53.69 and move towards the resistance at 57.48. If more news on the rising oil supply is published, the further falls will drive the oil price below the 53.69 level. The next support is placed at 50.97 pivot.
Brent fell below the 63.85 level yesterday. Comments on controlling the oil supply will help Brent to stick above the resistance at 63.85. Otherwise, it will fall downwards to the support at 60.65.
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News to trade on November 22
Check the candlesticks: http://bit.ly/2DzViVf
22.11.2018
Please, note!
On November 22nd and 23rd due to Thanksgiving celebration, the trading schedule for metals and American futures will be changed.
On November 22nd:
•Trading for XAUUSD, XAGUSD, Palladium, Platinum will be closed at 20:00 MT;
•Trading for WTI, BRENT will be closed at 19:45 MT
On November 23rd:
•Trading for XAUUSD, XAGUSD, Palladium, Platinum will be closed at 20:45 MT
•Trading for WTI, BRENT will be closed at 20:30 MT
Please, keep these changes in mind when planning your trading sessions. Do not hesitate to contact the FBS Support team in case you have any questions.
Yesterday, the European Commission rejected the proposed Italian budget. Italian authorities including deputy's Prime Minister Matteo Salvini are planning future negotiations on this topic. Positive news can help the EUR to gain towards the resistance at 1.1487. If the uncertainties appear, EUR/USD will fall to the support at 1.1350.
The EU and the UK negotiators have agreed on draft Brexit, according to today's news. Now the future of this agreement depends on the decision of 27 EU members. This is a good news ahead of the EU Summit on November 25. The British PM Theresa May will try to finalize the Brexit agreement before Sunday's summit. Today, she is expected to make her speech to parliament at 16:30 MT (14:30 GMT) time.The GBP was supported heavily by the news, jumping above the resistance at the central pivot at 1.2874 and testing the 1.29 level. The next resistance for the cable lies at 1.3026. In case, of uncertainties, the British pound can fall towards the support at 1.2677.
During the Asian session, the NDZ/USD sellers pulled the New Zealand dollar, making it the biggest loser during the Thanksgiving holidays. The kiwi propped below the support at the central pivot at 0.6820. The next support lies at 0.6756. If the risk-on sentiment across the equity markets stabilizes, NZD/USD will rise towards the resistance at 0.6882 (200-day MA).
As for the AUD, the economists at ANZ pushed their expectations for a rate hike to August 2020. It drove the Australian dollar to test the support at 100-day MA at 0.7251. If the bearish pressure increases, AUD/USD can fall towards the next support at 0.7216. The risk-on sentiment can help the aussie to stick above 0.7277.
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Uncovering Gann indicators
http://bit.ly/2FChqAN
Have you ever heard about one of the most mysterious and successful traders of all times – William Gann? He is well-known for using geometry, astrology and ancient mathematic to predict the movement of quotes in the financial markets. He was brought up in an impoverished extended family.
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LESSON 2. What is Forex trading?
So, what is Forex trading? Forex stands for foreign exchange and is used to describe trading in the currency market by investors and speculators…
If the euro strengthens, he will then sell euros for dollars and thus increase the initial sum he has in dollars.
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News to trade on November 27
Check the graphs: http://bit.ly/2QkwdnX
27.11.2018
The Brexit deal is anticipating the votes by parliament on 11th of December. For now, the future Brexit direction depends on whether the parliament will approve the deal. If it is declined, Britain should either expect a second referendum or a hard Brexit. As far as uncertainties around the potential decline are floating, it affects the GBP negatively. More negative news will pull GBP/USD below the 1.2738 support. In case of positive news, it will rise towards the resistance at 1.2832.
The American CB consumer confidence will be released at 17:00 MT time Last month it reached a higher-than-expected level of 137.9 points. Analysts anticipate a slight decline to 136.2 points in November. If the actual digits are higher, the USD will be supported.
Yesterday, fresh comments by US president Donald Trump on raising tariffs in Chinese imports resulted in gains of the US dollar index. However, it could not break the psychological level of 97. If today’s release outperforms the forecast, the USD can stick above the resistance at 97. Otherwise, it will fall to the support at 96.55 which lies near the 100-day MA.
As for USD/JPY, the pair was a big gainer yesterday. It crossed the 50-day MA and the 113 level. If the USD extend its gains today, the pair will manage to stick above the resistance at 113.64. If the USD disappoints the investors, it can fall below the support at 113.29.
As for the NZD, at 22:00 MT we are awaiting the Reserve bank of New Zealand to publish its financial stability report. We will see if the central bank provides any hints for changing its dovish tone due to the increased inflationary and employment data.
Trump’s comments made the New Zealand dollar to fall below the 100-MA on a 4-hour chart. However, the pair managed to recover. If the RBNZ report is hawkish, we can expect the pair to rise towards the resistance at 0.6806. In case of the strong USD, the pair will drop to the support at 0.6738.
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News to trade on November 28
Check the candlesticks: http://bit.ly/2FJqLab
28.11.2018
US preliminary GDP is due to release today at 15:30 MT time. The economy of the US grew by 3.5% in the last quarter. The digits came as a result of positive releases of private inventory investment, personal consumption expenditures, local and state government spending, nonresidential fixed investment, and federal government spending. Analysts anticipate the preliminary GDP to reach 3.6%. If this data is higher than expected, it will contribute to the rise of the USD.
In addition, at 19:00 MT we anticipate the speech by the Fed Chair Jerome Powell. His speech may provide clues on the Fed's view of the US economy and the further rate hikes.
During the American session, Trump commented again on the rate hikes by the Fed, mentioning that he is "not even a little bit happy" with the Fed Chair Jerome Powell.
As a result, the US dollar index has slid a little today. Further direction of the index depends on the Fed chair comments and the GDP release. If they provide the positivity to the investors, the US Dollar index can rise towards the resistance at 97.48. In case of disappointment, it can fall below the support at 97.16
Britain is awaiting the bank stress test results at 18:30 MT. It is the spotlight of the day for the GBP traders, as it will give an insight into the UK economy ability to survive a hard Brexit. In addition, the financial stability report will be published and the BOE's Governor Mark Carney will deliver his speech afterward. In addition, the British central bank will be publishing its economic assessment of the Brexit outcome during the day. However, any fresh news on the Brexit approval ahead of the House of Commons decision scheduled on December 11 will bring volatility to the British pound. Positive data and confident Carney will push GBP/USD towards the resistance at 1.2832. In the negative case, the pair will fall below the support at 1.2738.
The news about the US-China talks remain the market movers ahead of the Friday's China president Xi Jinping meeting with US president Donald Trump. Earlier today, Chinese president commented on the widening market access for foreign investors. As a result, the risk-on sentiment across the markets increased. The Antipodeans were lifted by the news. For now, AUD/USD has tested 100-day MA. If the risk-on sentiment increases, the pair can rise towards the resistance at 0.7253. In case of negative news on the escalation of the trade war, the pair will fall towards the 0.7179 support.
As for NZD/USD, it has tested the 0.6806 resistance today. More positivity among the investors will push the pair above this level. The next resistance for the pair lies at 0.6844. Otherwise, it will fall towards the support at 0.6738.
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News to trade on November 29
Check the candlesticks: http://bit.ly/2E4nFvS
29.11.2018
Yesterday, the Fed Chairman Jerome Powell surprised the market with the dovish speech. According to his comments, he is not likely to continue with gradual rate hikes next year. “Interest rates are still low by historical standards, and they remain just below the broad range of estimates of the level that would be neutral for the economy" – the key statement from his speech.
Today, we anticipate the release of minutes of the Federal Open Market Committee November’s meeting at 21:00 MT time. We will see whether it can provide some support to the USD.
How did the Fed Chair speech affect the key currency pairs?
EUR/USD tested the resistance at 1.1378. Dovish tone of the FOMC statement will help the pair to rise towards the resistance at 1.1429. Otherwise, if the statement contains some supportive data for the USD, it will fall towards the support at 1.1284.
In addition, the Italian budget issue still triggers the investors. According to the latest news, the Italian government is not planning to move their deficit target lower than 2.2%. This is a small update from the previous 2.4% level, which also pulls EUR/USD down.
The British pound followed the same scenario after the dovish Powell. However, the Brexit uncertainties and negative outlooks ahead of the Parliamentary vote on December 11 keep affecting the market. If the FOMC statement shows uncertainty, GBP/USD will stick above the resistance at 1.2832. More negative news on Brexit will pull the pair towards the support at 1.2738.
The USD suffered losses while trading against the Japanese yen. Positive comments from the American central bank will help the pair to rise towards the resistance at 114.132. In case of dovish tone, the pair will stick below the support at 113.286.
During the Asian session, the New Zealand dollar slid due to the unchanged Business confidence numbers at -37%. The weak USD can help NZD/USD to rise towards the resistance at 0.6912. Otherwise, it can stick below the support at 0.6844.
The AUD, on the other hand, was driven by bulls as the risk-on sentiment across the Asian equity markets increased. If the USD is weak, AUD/USD can continue moving towards the resistance at 0.7376. If the risk-off sentiment increases, the pair will fall below the support at 0.7303.
In other news, oil extends losses ahead of the OPEC+ meeting on December 6. The fears that OPEC+ will fail to deliver the expected output cuts are moving the market. WTI dropped to the last year levels, testing the ground below $50. More comments on output cuts will help it to rise towards the resistance at $52.77. More uncertainties will pull the price below the psychological support at $50.
As for Brent, it fell below the $60 level. The next support for the crude lies at $55.74. If the bulls take over, the resistance for it lies at $61.68
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How to create your own trading strategy?
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Experienced traders rely on the thoroughly elaborated trading strategies. They know that although there might be some deviations in the exchange rates, they do follow certain patterns. As a result, it’s necessary to have a strategic approach to trading. That’s why we encourage you to build your own trading strategy.
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European equities are backed by trade war truce
More at: http://bit.ly/2RuDkr9
03.12.2018
On Monday, autos, miners, tech as well as crude stocks all managed to surge, powering the EU’s key benchmarks after Chinese and American presidents agreed a temporary truce in their everlasting trade conflict that has roiled financial markets worldwide.
The DAX index in Germany, which appears to be the most sensitive to China as well as trade war worries, led the way with a 2.5% leap, reaching its highest value since November 14. Additionally, the STOXX 600 rallied by 1.9%, finding itself on track for its most productive day for eight months.
Financials appeared to be the greatest boost to EU equities because China-exposed bank HSBC tacked on and lenders across the region welcomed the prospect of a détente in a trade conflict that has impacted world economic surge prospects.
Mining shares SXPP led profits with a 5% ascend because metals rallied on the news that gives China, the world's number one metals consumer, a good push.
Anglo American, Glencore, and Antofagasta happened to be among the top EU gainers, soaring by 6.1%- 6.9%.
Car equities SXAP that have been affected by worries of soaring levies, headed north by up to 4.2% right after US leader told that China had agreed to reduce import levies on American-made vehicles.
German car makers Volkswagen, BMW, Daimler rallied by 4.8%-6.2%, while car suppliers ascended too. Moreover, tire maker Continental ascended by 4.1%, while Faurecia tacked on by 6.9%.
As for the crude sector SXEP, it gained 2.6% because oil jumped on the trade conflict truce and also ahead of this week’s OPEC gathering, anticipated to result in a supply cut.
Luxury stocks extremely sensitive to the Chinese economy also turned out to be among top performers, with heavyweight conglomerate LVMH adding 5.3%. Additionally, Gucci owner Kering surged by 6.2%.
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News to trade on December 4
Check the candles: http://bit.ly/2UcAHvT
04.12.2018
During the Asian session, the US 10-year Treasury bond yield fell to its three-month lows. Analysts mention the slowdown of inflation as the main reason for this slump.
As a result, USD/JPY fell sharply below the central pivot at 113.445 and 50-day MA, testing the ground at the 112.860 support.
The speech by the Federal Open Market committee member Williams at 17:00 MT time can support the US Dollar. If his speech contains hawkish comments, the pair can stick above the 112.860 level.
EUR/USD keeps appreciating against the weak US Dollar. Today, the Italian Prime Minister Giuseppe Conte will present the new budget proposal to the EU. For now, the anticipated target is 2% (vs. previous 2.4%). However, the actual target could be even lower. If the new deficit target satisfies the market, the EUR will stick above the resistance at 1.1391. The next resistance lies at 1.1432 (50-day ma). If the USD is supported by the FOMC member’s speech, EUR/USD will fall towards the support at 1.1329.
Today, the general advocate for the European Court of Justice published an opinion in which he said the UK could revoke Article 50. It provides hope for British supporters to stay in the European Union to reverse Brexit if the withdrawal agreement by the British Prime Minister Teresa May is rejected by Parliament on December 11. At the time of writing, GBP/USD has been rising towards the resistance at 1.2833. In case of more Brexit uncertainties, the pair will stick below the 1.2778 level.
As the USD keeps sliding with the 10-year Treasury bond yield at its three-month lows, it boosts the price for gold. Currently, the price for the yellow metal is testing the resistance at $1,238. If this level is broken, the next resistance lies at $1,248. If bulls cannot hold this level, the support for gold lies at $1,230.
The latest news from OPEC contained information about a planned output cut of at least 1.3 million barrels. Brent has already tested the resistance at $63.09 on the news. Further comments about output cut will help the crude to stick above $63.09. If the news on the increased output appears, the price will fall towards the support at $60.88.
As for WTI, the anticipation of the output cut will help its price to break the resistance at $53.93 and rise towards the next resistance at $55.32. If bears take over, the support for it lies at $52.21.
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News to trade on December 5
More at: http://bit.ly/2E3k00w
05.12.2018
Yesterday's tweet by US president Donald Trump renewed fears about reaching the trade deal with China. "We are either going to have a REAL DEAL with China, or no deal at all”, - said Mr. Trump. In case of no deal, the US will charge a huge number of tariffs against Chinese production. It increased the risk aversion across the financial markets in Asia.
During the Asian session, the Australian dollar fell on the release of the weak GDP. The Australian economy grew by 0.3% in the 3rd quarter, a lower level than the expected 0.6%. The decline happened due to the increased household consumption, driven by spending on food and housing. In addition, the household saving ratio declined to 2.4% in the 3rd quarter. This is the lowest saving rate since December 2007.
AUD/USD has already tested the support at 0.7285 on the news. The strong USD can make the pair retest this level. If the risk-on sentiment across the equity markets increases due to more certainty in the US-China trade deal, the aussie will rise towards the resistance at 0.7370.
EUR/USD fell as the US Dollar had strengthened yesterday after the optimistic comments by the FOMC member John Williams. He anticipates further interest rate hikes by Fed.
After that, the risk-off sentiment contributed to the rise of the greenback. As for the euro, the Italian budget news keeps triggering investors and traders.
If the EUR is supported by the positive news from Italy, EUR/USD can rise towards the resistance at 1.1391. Otherwise, if the USD keeps gaining, the pair can stick below the support at 1.1329.
The European Central Justice announced on Tuesday that the UK could withdraw the Article 50 anytime. That means the country can move out of Brexit and stay within the European Union. However, the British Prime Minister said the country would not quit Brexit under any circumstances. In addition, May lost the three key votes yesterday. Two of them were forcing her to publish secret government legal advice on her Brexit deal. The prime minister said she would release it on Wednesday.
If more uncertainties on the Brexit agreement come out, GBP/USD can stick below the support at 1.2694. In case of more certainty, the pair will rise towards the resistance at 1.2778.
The Bank of Canada rate statement is scheduled at 17:00 MT time. We anticipate the central bank to leave the rates unchanged this time, however, the Governor Stephen Poloz and his colleagues may provide hawkish statements, which may signal the possible increase in the rate in January. In addition, the recently-signed USNCA agreement supports the BOC's hawkish view. If the BOC delivers supportive comments for the CAD, USD/CAD will fall towards the support at 1.3195. If the central bank’s statement disappoints investors and the USD is stronger, USD/CAD will stick above the resistance at 1.3277.
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News to trade on December 6
Check the candles: http://bit.ly/2KZ5gkG
06.12.2018
The Chief Financial Officer of Huawei Technologies Co was arrested in Canada over potential violations of US sanctions on Iran, which fueled the trade tensions between the US and China and increased the risk-off sentiment across the equity markets.
During the Asian session, the Australian dollar fell below the 100-day MA, testing the support at 0.7226. The reason for it lies in the dovish outlook for 2019 by the Reserve Bank of Australia. Yesterday’s weak GDP release had a significant impact on the RBA message. If the capital’s outflow from the risky assets continues, the pair will stick below the 0.7285 level and fall towards the next support at 0.7182 (50-day MA). Otherwise, it will rise above the 0.7226 level.
The Bank of Canada statement did not contain any supportive information for the Canadian dollar yesterday. Today, USD/CAD has already crossed the resistance at 1.3368 and has risen towards the next resistance at 1.3450.
The pair is waiting for two releases today: the Canadian trade balance at 15:30 MT time and the American ISM non-manufacturing PMI at 17:00 MT time. According to forecast, we will see the deficit of 7 million Canadian dollars in the trade balance of Canada. If actual figures outperform the forecast, the CAD will be supported. If the trade balance for Canada is greater than expected, the pair will fall towards the 1.3368 level. If it’s broken, the pair will target the next support at 1.3277. Otherwise, if the USD is strong, the pair will be able to stick above the 1.3450 level.
EUR/USD is trading sideways with strong support at 1.1329. If the USD is supported by higher-than-expected Non-Manufacturing PMI, the pair will fall towards the next support at 1.1256. Otherwise, it will sick above 1.1329. The next resistance is placed at 1.1391.
The highly anticipated OPEC+ meeting is scheduled for today in Vienna. According to the recent comments by the OPEC+ members, the production cut will be around 1 million barrels per day. The market did not like this low level as both WTI and Brent has dropped on this news. However, the final decision has not been reached. If they agree on the greater oil output cut, the levels of crude’s price will gain. At the moment of writing, the price for WTI has crossed the $52.2 level and has tested the next support at $50.81. In case of the positive outcome, the price for WTI will go up and can stick above $52.20. The next resistance is placed at $53.92. If the sides do not reach an agreement, WTI’s price will stick below the support at $50.81. The next support is at $49.09. Tomorrow, OPEC members will meet with Russia to finalize the oil output cuts.
Brent follows the similar scenario. If the OPEC+ members decide on the cut of oil production, the crude’s price can stick above the resistance at $61.03. Otherwise, it will fall below the support at $59.41. The next support is placed at $57.4.
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Weekly CryptoNews
More at: http://bit.ly/2BYbfDv
07.12.2018
Zhao Dong, crypto billionaire, OTC trader: “In the bull market, I don’t persuade people to buy Bitcoin, because it seems easy to make quick money but in fact, it is not. Now, I start to talk people into buying Bitcoin.”
Since the beginning of the week, Bitcoin has been going down. On Monday, it fell below the psychological level at $4,000. Despite the slight recovery on Tuesday, it kept falling and retested the support at $3,617 on Thursday. Today bears managed to pull the price for the digital asset below the $3,617 level. One of the main reasons behind the current panic-selling lies in the postponed decision on the Bitcoin exchange-traded fund (ETF) approval by the US Securities and Exchange Commission (SEC) on Thursday. Another reason may be connected with yesterday's news on a lawsuit against Bitcmain, Bitcoin.com and the Kraken Bitcoin Exchange, which accused them of a plan to take control of the Bitcoin Cash network. If the bearish pressure continues, Bitcoin will fall towards the next support at the September 2017 minimum at $2,970. If the oldest cryptocurrency manages to recover, it will rise above the $3,617 level to the resistance at $4,100.
In other news:
On December 3-5, 199,000 BTC were withdrawn from users, who were inactive since 2014. Transactions were divided by 660 BTC and then were collected on other addresses. No one knows the reason behind it yet.
The largest whale who controls 12 million LTC was found in the Litecoin network.
The share of Tether (USDT) in the market of stablecoins decreased from 90% to 74% during this year.
After the automatic recalculations, the difficulty of Bitcoin mining dropped by 15%. This is the biggest drop since November 2011.
Earlier today, Ethereum’s price collapsed from $100 to $13 on Coinbase Pro but managed to recover in an hour. Coinbase representatives have not commented yet on the sudden crash.
Regulations:
G20 countries will develop the united system for cryptocurrencies’ regulations based on the Financial action task force (FATF) recommendations.
France, Italy, Cyprus, Malta, Portugal, Greece and Spain signed an agreement on a joint promotion of blockchain technologies.
The US authorities decided to analyze the anonymous crypto transactions. Let’s wait where it will go.
New releases:
NASDAQ vice president of Communications approved the plans of the trading platform to launch Bitcoin-futures at the beginning of 2019.
Huawei Corporation launched the cloud blockchain platform for the development of centralized applications.
Bitcoin $3,426.2
Ethereum $85.1
Litecoin $25.24
DASH: $62.85
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EU equities slump
More at: http://bit.ly/2LaqE6l
10.12.2018
On Monday, escalating US-Chinese trade tensions impacted European equities due to the fact that market participants fled risk at the beginning of a highly uncertain week, with the UK’s parliamentary vote on Brexit looming too as well as chemicals shares affected by a BASF revenue warning.
The STOXX 600 index decreased by 0.9% hitting a new two-year minimum. The FTSE 100 slumped by about 0.4% in Great Britain, while the DAX index decreased by 0.8% in Germany.
Crude stocks SXEP went down by 1.1%, erasing their 2018 profits. Crude had been the last sector holding onto profits in the European bloc. All the STOXX 600 sector indices are currently staying in the red (with dives of 26% for cars and banks) or intact on the year.
Equities in BASF went down by 4.7% after the German chemicals company slashed its estimate for this year’s gains on Friday.
BASF counterpart Symrise declined by 3.1%, Sika sank by 5.1%, while Imerys went down by 5%, assisting to drag the pan-European chemicals index SX4P down 2.5% and also making it the worst-performer.
Construction and materials stocks, which are very sensitive to economic surge, declined by 1.5%, while autos stocks SXAP went down by 1.3% because trade tensions generated negative consequences.
Chipmakers Siltronic, STMicro, and AMS went down by 2.9%-5.1% because traders had the tech sector ditched.
French hotel, transport, and retail stocks dived reacting to a fourth weekend of "yellow vest" protests, affecting the national economy.
On the STOXX, LVMH and Kering found themselves among the biggest drags. However, France's CAC 40 didn’t manage to underperform European rivals, losing just 0.6%.
Stocks in British energy utilities Centrica as well as SSE went down by about 3% because traders remained quite passive ahead of a decisive vote on Brexit on Tuesday.
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News to trade on December 11
Check the graphs: http://bit.ly/2Pz1lvH
11.12.2018
During the Asian session, Chinese Vice President Liu, US trade secretary and trade representative exchanged their opinions on trade. However, it did not result in the increased risk-on sentiment due to the French and UK political uncertainties. As a result, on the daily chart of NZD/USD, the Doji candlestick was formed. Today, New Zealand anticipates the speech by the Reserve bank of New Zealand Governor is scheduled at 21:15 MT time. If the speech by the RBNZ governor is hawkish, the NZD will stick above the resistance at 0.6890. In case of the dovish comments or strong USD, it will fall towards the support at 0.6811.
As for AUD/USD, on the daily chart, the "inverted hammer" candlestick was formed yesterday. It can mean a possible reversal for the pair. If the risk aversion decreases, the pair can rise towards the resistance at 0.7260. Otherwise, the strong USD will pull the pair below the support at 0.7182 (50-day MA). The next support is placed at 0.7126.
Today we anticipate the release of US PPI and core PPI at 15:30 MT time. According to analysts, the headline PPI will remain at the same level. As for the core PPI, it is expected to increase by 0.1%. Yesterday, strong US Dollar pulled EUR/USD below the central pivot at 1.1374. The form of the candlestick shows an uncertainty among traders, as the pair even tested the level at 1.1437.
If the USD is supported by the PPI release, the pair will fall towards the support at 1.1323. Otherwise, it will stick above 1.1374.
Today, the British Prime Minister Theresa May is due to meet with the European Commission president Jean-Claude Juncker at 20:15 MT time, the European commission president Donald Tusk at 18:00 MT time and German Chancellor Angela Merkel to discuss the Brexit deal. Earlier, the president of the European Council Donald Tusk tweeted that the EU would not renegotiate Brexit deal. In addition, Mr. Junckler commented that the current Brexit deal was the only deal possible. If the negotiations bring more certainty, the GBP will rise towards the resistance at 1.2642. If Theresa May fails to bring positivity to the market, or the USD is strong, it will break the support at 1.2560 and target the next support at 1.2462.
It is not enough just to reach an agreement. OPEC+ brings new challenges to the market with uncertainties over how the coalition will implement its output cuts. As a result, the price for the crude oil fell yesterday.
If positive news about an oil cut is released, the price for WTI will stick above $52.23. More uncertainties will pull the crude’s price towards the support at $49.93.
As for Brent, the bearish pressure will make its price fall towards the support at $58.60. If the crude’s price is supported, the first resistance lies at $61.15.
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News to trade on December 12
Check the candles: http://bit.ly/2EshvFL
12.12.2018
During the early Asian session, comments by US President Donald Trump cheered the markets. He said that he would intervene in Huawei CFO case if it’s good for reaching a great trade deal between the countries and national security. He also noted that negotiations with China have already started via phone. As for Auto tariffs on Japan and EU, they depend on trade negotiations with these countries.However, did not have much effect on the AUD and the NZD due to the strong US Dollar. Positive news on trade deal will help AUD/USD to rise towards the resistance at 0.7260. The risk-off sentiment will pull the pair downwards to the support at 0.7126.
As for NZD/USD, the risk-on mood can help the pair to recover and stick above the resistance at 0.6890. Otherwise, the strong US Dollar will pull it towards the support at 0.6811.
The USD got stronger against the JPY and drove USD/JPY towards the resistance at 113.6. If the USD weakens, the first support for the pair lies at 112.909.
Today we anticipate the release of the headline CPI and core CPI at 15:30 MT time. According to analysts, the headline consumer price index will drop to 0%, while the core CPI will stay at the same level at 0.2%. If the actual data is higher than the forecast, EUR/USD will fall. The first support lies at 1.1260. What can make EUR/USD rise? The successful negotiations between the European Commission president Mr. Juncker and the Italian prime minister Mr. Conte on Italian budget at 17:00 MT time. If the sides will renegotiate on the target of the Italian budget deficit, EUR/USD will rise towards the resistance at 1.1374. Otherwise, it will fall towards 1.1260.
Great Britain is awaiting the Confidence Vote on the Theresa May’s leadership. The members of the Conservative party will vote on whether they have confidence in the current prime minister at 20:00 MT time. If she loses, the leadership contest will begin and it will increase the uncertainty over the Brexit future. The negative news will pull GBP/USD towards the support at 1.2461. Otherwise, if Theresa May protects her place in the government and increases confidence in the Brexit deal, the pair will stick above the resistance at 1.2559.
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News to trade on December 13
Candlesticks graphs here: http://bit.ly/2Lfv0cK
13.12.2018
According to today’s news, Chinese authorities invited the US for further trade negotiations. They also said to plan more US soybean purchases today. As a result, AUD/USD moved higher. More positive news concerning the trade negotiations between the US and Сhina will push the pair towards the resistance at 0.7260. If the uncertainties increase, the pair will fall towards the support at 0.7182 (50-day MA).
The price for NZD/USD also showed uncertainty. If the risk-on sentiment increases, it will rise towards the resistance at 0.6890 and probably retest it. Otherwise, it will fall towards the support at 0.6738.
Today the economic calendar is highlighted by the ECB monetary policy statement at 14:45 MT time. The European central bank is anticipated to end its quantitative easing policy soon. The comments by the ECB president Mario Draghi may support the EUR. EUR/USD was supported yesterday after the news on the budget cut of the Italian budget deficit and rose to the central pivot at 1.1374. The Italian government has agreed to cut its budget deficit to 2.04% compared to 2.40% previously. For now, it anticipates the approval by the European Commission. For now, it has already crossed this level, heading towards the resistance at 1.1437. If the ECB provides hawkish comments for the euro, it will stick near this level. Otherwise, the pair will fall to the support at 1.1323.
Yesterday, Theresa May won her confidence vote. Today she will meet with the European leaders to find a solution on Brexit. That is why the headlines may bring the volatility to the cable. Bulls pushed the pair higher, the pair crossed the 1.2560 level and tested the resistance at 1.2643. If today’s negotiations turn out to be successful for May, the pair will stick above the 1.2643 level. The next resistance is placed at 1.2740. In case of negative news, it will fall towards the support at 1.2560. The next support lies at 1.2462.
Oil continues to face the uncertainties over the OPEC output cut. In case of negative news, the price for WTI will fall towards the support at $49.93. Otherwise, if the OPEC+ confirms its actions, it will rise towards the resistance at $52.23.
As for Brent, the bearish pressure will pull the crude’s price downwards to the support at $58.6. Positive news will pull it higher. The first resistance lies at $61.15.
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Bitcoin goes down
More at: http://bit.ly/2QPququ
14.12.2018
On Friday, Bitcoin along with other key crypto assets declined in Asia. It happened due to the fact that digital token protocol Basis ceased operations and had its capital returned to investors because of regulatory fears.
Eventually, Bitcoin inched down by nearly 3.08% showing a reading of $3,305. As for Ethereum, this digital currency sank too, losing 2.42% being worth $86.2.
Besides this, XRP declined by about 1.32% ending up with $0.29919. Additionally, Litecoin slipped by 3.35% concluding at $23.191.
Geared up towards launching a fully decentralized and stable token absolutely resistant to volatility, on Thursday Basis announced its decision to shut down and also return the invested funds to its owners.
The company actually explained that move by a strong negative impact of the necessity to comply with American securities regulation. Under these conditions Basis doesn’t know how to dodge security status for share and bond tokens, which is undesirable for the startup.
By the way, among the startup’s investors there are Bain Capital Ventures, Silicon Valley venture capital firm Andreessen Horowit, and Google’s capital investment arm GV.
Despite some recent regulation hazards and clampdowns, some countries are still interested in driving crypto assets.
In addition to this, the Gulf Times informed that the key financial institution of the United Arab Emirates is actually working on a joint project with its neighbor, the Saudi Arabia Monetary Authority with the aim of launching a digital coin their for cross-border transactions.
Moreover, French politicians also urged the country’s leader to invest up to EUR500 million in the blockchain sector. On Wednesday, they came up with a report on the ledger technology that proposed to make their country a “blockchain nation.” They are assured that in the nearer future blockchain will drastically change the world, and in particular, France.
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News to trade on December 18
Check the candles: http://bit.ly/2EATyw8
18.12.2018
During the Asian session the risk-off sentiment across the markets increased as China’s president Xi Jinping failed to bring updates on the trade truce between the US and China during his speech. As a result, the Japanese yen strengthened against the US Dollar. For now, it has already tested the strong support at $112.49. If it is broken, the next support is at 111.61. If the USD strengthens, the first resistance will lie at 113.11. If this level is broken, bulls will target the next resistance at 113.98.
The New Zealand dollar has been rising on the upbeat level of business confidence. The NZD business confidence increased to -24.1 in December (vs. -37.1 in November). As a result, the kiwi has already crossed the 200-day MA. If NZD/USD continues to move up, it will retest the 0.6876 resistance. If this level is broken, the next resistance is at 0.6961. Otherwise, if the USD gains its strength, the pair will be pulled towards the support at 0.6742.
The euro has been rising due to the weak US Dollar. The Italian and French budget deficits do not affect the market as much as they did. For now, the main focus for the pair remains on the tomorrow's Fed decision on its interest rate and monetary policy. If bulls continue to push the pair up, it will rise towards the resistance at 1.1408. If the USD is supported ahead of the Fed decision, the pair will fall to the support at 1.1338.
The British Prime Minister Theresa May announced the vote on the Brexit plan in the House of Commons to be on January 14. Today, she plans to discuss the chances of a no deal with her cabinet. As the date for the vote brought more certainty, GBP/USD has started to recover. In case of more positive news, the pair will rise further to the resistance at 1.2735. In case of more uncertainty or negative comments, the cable will stick below the support at 1.2605. The next support is placed at 1.2452.
The prices for WTI and Brent keep falling down on the news about the US oversupply. The price for WTI has already tested the support at $48.67. More news about increased oil production will pull its price further to the next support at $47. On the other hand, more hints from OPEC+ on the future production cut will push the WTI price towards the resistance at $49.88. The next resistance lies at $51.55.
Now let's look at Brent's chart. For now, it has been targeting the support at $57.63. If bulls get back their strength, the price for Brent will rise towards the resistance at $58.92. If it's broken, the next resistance is placed at $60.62.
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