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Wednesday, 20 March 12:06 (GMT -05:00)



Foreign exchange market

Crypto Traders Expect Growth, NordFX


The balance of powers in the Forex market depends on a number of factors. Getting familiar with an unbiased forecast helps market players figure out what to do next and what to expect in the market. Such information hits an the most probable market scenarios that may manifest themselves in the near future, which in its turn may give them a decent opportunity to increase the potential profit.
 

Roman Boutko, an expert from NordFX has released another forecast for the current trading week. For starters, he offers to take a look at the previous trading week to evaluate how precise it eventually turned out to be. When creating this consensus forecast, they expert analysed the forecasts made by a number of experts, who make use of different analytical methods and techniques. This is what the current consensus forecast looks like:

 

Studying the EUR/USD chart shows that the price created a pennant in November, with a tendency to consolidate around 1.1315-1.1350. While prediting the next price move of EUR/USD, 60% of the experts, and more than 90% of the technical indicators (H4 and D1) taken into account during the process of making the consensus forecast, assume that the most probable scenario is another round of strengthening of the U.S. Dollar against the Euro, with testing this year's low at 1.1215.

.Прогноз по EURUSD от NordFX

 
The nearest market trends will probably be determined by the G20 summit as well as the Fed chairman's speeches on Wednesday and Friday. On top of that, the end of the week is the time when the U.S. Department of Labor is expected to release another report on the American labor market. According to numerous forecasts, the so-called Non-Farm Payrolls may drop some 15-20% against the previous stats. If that's the case, the American national currency may weaken a bit. It should also be noted that when widening the scope of the forecast from weekly to monthly one, 605 of the experts are bullish on the currency pair. In particular, they expect a recovery up to the 1.1400-1.1500 area.
 
As for GBP/USD, the currency pair is currently close to the area of local lows of 1.2670-1.2695. The graphical analysis of the H4 chart (which is supported by 90% of trending indicators and oscillators) predicts a move down below the area, with a chance of entering the 1.2600-1.2620 area. 
 
Still, having considered a number of major factors, unlike the indicators, the experts are not in a hurry to make specific predictions. Only 55% of them are clearly bearish on the currency pair. The others are sure that the currency pair won't be able to break below the mentioned lows and will head for 1.2900 instead.
 
Also, the experts aren't clear about the near-term prospects fo the Japanese Yen. The experts are divided 50/50 on the direction in which USDJPY is expected to move over the trading week. Apparently, they are waiting for the results of the G20 summit, which set a lot of controversial expectations
 
When it comes to cryptocurrencies, making specific predictions is even more difficult given the fact that the true value fo digital currencies is next to impossible to figure out. Indeed, they are purely digital, which is why they don't actually have any intrinsic value, thus making those forecast differ from each other quite a lot. Mining costs are not something that international experts have been focused on in this case.
 
Still, 60% of the experts expect Bitcoin to continue its way down to 3000 dollars per coin. 30% belive the world's first cryptocurrency will manage to stay in the range between 4000 and 4500 dollars per coin. The remaining 10% are convinced that the current market situation is nothing but big players' attempt to manipulate the market and force the crowd into selling them the coin at a discount.

 

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Alpari Eurasia Joins Belarus Association of Financial Market Development

 In order to stay ahead of the rivals, forex companies have to keep on improving, introducing new products and services, innovating, expanding their presence in the global market. Alpari has reported about joining the Association of Financial Market Development in the Republic of Belarus. The decision was made on March 2019, given Alpari's significant contribution to the development and improvement of the local forex industry.

Publication date: 14 March 12:31 PM

NordFX Shares Forex and Cryptocurrency Forecasts for Mid-March 2019

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Publication date: 11 March 11:13 AM

FxPro Conducts Professional Training for Forex Traders

Making money by trading Forex has been getting more and more popular with retail traders over the last few years. When done in a proper and consistent manner, those investments may generate profits in any economic situation, even during a crisis. But how can you become a successful trader?

Publication date: 10 March 05:52 AM

NordFX Shares Forex and Cryptocurrency Forecasts for Early March 2019

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Publication date: 03 March 11:09 AM

How Scams Exploit FxPro Reputation

Financial markets are not pure figures, reports, and charts. Any market implies human players in the first place. Unfortunately, not all of those people are kind and honest. Forex and its participants - traders, investors, and brokers - have always been subject to various kinds of manipulations and fraud. With that being said, a market participant can fall pray to scams an all kind of unfair play in the industry surrounding the international currency market.

Publication date: 02 March 01:10 AM

Brexit Won't Affect British Pound Just Yet, NordFX Experts Say

The balance of powers in the international currency market (also known as forex) influences many contemporary tendencies in the entire world. At the same time, traders and investors rely on accurate forex forecasts to earn money. That is why we keep on publishing those weekly consensus forecasts, courtesy of NordFX.

Publication date: 26 February 11:19 AM

NordFX Wins 3 Forex Awards

NordFx is reported to have become the winner in 3 nominations of the prestigious Forex Awards.

 

Publication date: 22 February 02:55 AM

Cryptocurrency Market Will Get Feverish By Mid February 2019

There is quite a lot of factors out there capable of influence the currency market in general, and cryptocurrency market in particular. In their turn, currency exchange rates can influence the entire world. At the same time, professional traders and investors take those exchange rates into account to avoid losses and make profits. At the same time, they don't mid taking expert opinions into account to be more accurate in their own predictions as well as the trading decisions based on them.

Publication date: 11 February 10:36 AM

NordFX. Forex and Cryptocurrency Forecast. Early February 2019

NordFX is back with their weekly consensus forecast for the week. We must confess that the forecast based on a number of technical indicators and expert opinions have been really efficient in predicting future market behaviors. With that being said, this is an overview of the recent forecast made for the current trading week, which is February 4-8, 2019.

 

Publication date: 04 February 11:05 AM

Chinese New Year

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Publication date: 03 February 03:20 AM