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Sunday, 16 June 05:46 (GMT -05:00)



Foreign exchange market

Dollar Will Rise, Crypt Market Will Stay Flat, NordFX Experts Predict


Contemporary methods of market analysis make it posible to make define the most probable scenarios and to make really accurate predictions, with a really high probability of coming true. Needless to say that such info is priceless for traders and investors seeking to reduce their risks and earn money from financial markets. 
 
ForFX analyst Roman Bytko provided his overview of the recent market events as well as the most likely scenarios for the near future. For starters he offers to recollect the key points of the previous weekly forecast. 
 
While applying the same approach to analysing the market, the experts made up the same predition for the current trading week. They collected and studied the predictions made by a group of respected experts in the field, each of them basing their predictions on various methods of technical and fundamental analysis. As a result, they came up with the following consensus forest for the week:
 
As for EURUSD, 70% of the experts assume that the Fed's interest rate decision is going to affect the market for a while. The statement seems to be contributing to a stronger dollar, which is why they expect EURUSD to break below this year's low around 1.1300 and reach the 1.1200-1.1250 area in case of controversial economic data coming from the EU amid positive economic stats from the USA. This prediction is also backed by the current situation seen on the H4 chart of EURUSD, which most of the trending indicators and oscillators indicating growth. Still, some of the oscillators do indicate an oversold market, which means we are likely to see a timeout in the downtrend of EURUSD.
 

EURUSD

 
However, 30% of the experts expect the market to reverse and rally. They assume that the dollar is overpriced, which is why they anticipate a move to the 1.1435-1.1525 area in the near future. Still, they urge everyone to pay attention to the forthcoming GDP stats from the Eurozone as well as the inflation figures from the the United States. The releases are scheduled for Wednesday and Thursday respectively. Friday is the day when the Eurozone is planning to publish their inflation stats.
 
As for GDPUSD, there are some major news releases for the UK planned for the trading week. On Tuesday, they are going to publish the employment figures. The CPI figures are scheduled for Wednesday. They expect the inflation in grow by 0,1% over the reporting period. The higher the inflation goes, the biger the chances that we are going to see another interest rate hike by the Bank of England. 
 
For now 55% of the experts, together with the technical analysis of the H4 GBPUSD chart, are bearish on the currency pair. the next targets are 1.2850 and 1.2810. Their adversaries anticipate a rally up to 1.3150, 1.3175, and 1.3235, if the price overcomes the 1.3040 resistance level.
 
As for USDJPY, most of the experts, and the tech analysis, are bullish and expecting a move to 114.55 and 115.40. It should also be noted that some oscillators are showing divergence with the the price.
 
As for the major cryptocurrencies, they are still sensitive about the incoming news. On the other hand, the market has built an pretty strong immune system against fake news, which is why the experts don't expect a major price move in the market this week.
 
the upward potential is now capped due to the stapes taken by a range of international financial regulators like the SEC. They say that the fines imposed on Zakhari Kobern are just the first fines in the series for forthcoming measures. In the near future, the regulators may impose sanctions on a range of major crypto exchanges. 
 
At the same time, none of the major payers in the crypto market is interested in a market crash. As always, the  major level of support is determined by the level at which mining the coin is still profitable. If the coin comes close to this level, others start loading up on the coin, thereby pusing the prices higher again.

 

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Masterforex-V Names 135 Most Popular Forex Brokers 2019

When trying to increase the amount of new clients, many brokers start massive ad campaigns online. Most of the time, you can see or hear those brokers call themselves the leading players in the industry, the best of the best, which is obviously not true because all of them cannot be as good as they claim to be. This actually makes it really difficult for the common trader or investor to make up their mind when choosing the next broker to go with.

Publication date: 12 June 08:22 PM

Central Banks Cut Down On Their Dollar Reserves

Central banks all over the world are loading up on euros, yuans, and yens while getting rid of their dollar reserves. The IMF's report for the 4th quarter of 2018 confirms that. They say this has to do with the redistribution of currency reserves in the Russian Federation.

Publication date: 31 May 12:59 PM

Forex Forecast and Cryptocurrencies Forecast for May 27 - 31, 2019

Complaints and sometimes even moans have been heard everywhere in the last months about the low volatility of this pair. The same is true about last week, until the second half of Thursday, the maximum range of its fluctuations did not exceed 45 points.

Publication date: 27 May 04:51 AM

Forex and Cryptocurrency Forecast by NordFX. May 20-24, 2019

Roman Boutko, an analyst for NordFX, has come up with another consensus forecast for the forex and cryptocurrency markets for the forthcoming trading week starting on May 20, 2019.


Publication date: 20 May 03:50 AM

U.S. Sanction Trap For Russian Rouble

It's not a secret that the amount of sanctions against Russia has been growing over the last few years. At the same time, experts are losing faith in the stability of the Russian Rouble. Washington is discussing more and more variants to impose even more sanctions on Russia to undermine its economy and national currency.

Publication date: 18 May 03:25 PM

Facebook articles contest from FortFS

FortFS offers you to show off your writing skills and compete with other traders for a prize fund of 1000 USD, which will be distributed among the authors of the most interesting articles about our company!

Publication date: 18 May 12:24 AM

BTC Market Will Set New Highs In 2020

Tom Lee, Chief Analyst for Fundstrat Global Advisors, has recently shared his optimistic view on the future of Bitcoin (BTC). In early May, he said that the BTC exchange rate is undervalued and, given some fundamental factors, it should be somewhere around 14K dollars per coin. At this point, he thinks that the current all-time highs may well be renewed this year. This means BTC prices above $20K per coin and market cap well over 830 billion dollars within the next 20 months.

 

Publication date: 15 May 10:05 AM

U.S. Unemployment Rate Drops To Nearly 50-Year Low

The U.S. Department of Labor has released another unemployment reports. For the first time in over 49 years, the unemployment rate dropped all the way down to 3,9%. For the most part, this has to do with a considerable decline in the economically active population.

Publication date: 13 May 11:22 AM

Six main components of Alpha Bonus from FortFS

From 06 of May till 07 of June 2019 become the owner of a unique artifact called Alpha Bonus and subdue the financial element!


Publication date: 13 May 01:40 AM

Bitcoin Reaches 5-Month High

The cryptocurrency has been maintaining a stable bullish trend. over the last few days, the market cap has exceeded 185 billion dollars. According to CoinMarketCap, the market cap used to be 179 billion dollars on Tuesday. Over the last few days, the cost of all the cryptocurrencies circulating in the global market has grow considerably. 

 
Publication date: 27 April 10:24 AM