Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Friday, 10 July 10:22 (GMT -05:00)



Foreign exchange market

Dollar Will Keep Going Down, NordFX Experts Say


Right before the start of the last last trading  of this summer, NordFX experts came up with another set of market predictions for the forex and cryptocurrency markets. Their predictions are based on the consensus forecast compiled from various market forecasts made by various market experts as well as the result of technical analysis. The period is October 4th - 11th. So, this is what those predictions look like:
 
- EUR/USD. The new trading week promises to be interesting in terms of major economic releases allowing us to figure out the money-and-currency policies of Brussels and Washington for the near future. Backed by the D1 chart, around 60% of the experts have voted for a weaker euro, and they don't deny the likelihood of setting a new local low below 1.0880, which is the low set on October 1st. 
 
The remaining 40% of the experts anticipate the opposite scenario. Their opinion is backed by the situation on the H4 chart. To be more specific, they say that the common European currency still has some upward potential, which is why they expect the currency pair to continue rallying, probably up to 1.1100.
 
- GBP/USD. It's around 3 weeks left till the Brexit deadline. Very few representative of the international community belive that Boris Johnson will manage to agree with Brussels break up on some mutually beneficial terms over this period. With that being said, the chances of delaying the Brexit date or quitting without a major agreement keep on growing day by day.
 

График фунта

So, 65% of the experts participating in the consensus forecast assume the pound is very likely to continue its way down to new lows against the dollar. In particular, they don't deny a move below 1.1960, which is September's low. At this point, the key levels of support are located around 1.2200 and 1.2070. The remaning 35% are bullish on the pound against the dollar. They expect a move up to 1.2525.
 
- USD/JPY. Most expert predict a stronger yen, with USDJPY moving down to new local lows at least until the end of 2019. This scenario is backed by the trending indicators located on H4 and D1 as well as 75% of the signals coming from W1. The bears' targets are located at 106.50, 105.70, 105.00, and 104.45, while the bulls' ones are 107.55, 108.50, and 109.00. 
 
- Cryptocurrencies. As for the cryptocurrency market, enthusiasts keep on trying to persuade international investors that Bitcoin is about to get stronger based on the limited supply. Some of them are way too positive and saying that Bitcoin is going to reach 1 million dollars per coin in 2020. At the same time, the growing number of skeptics say that not only have digital currencies failed to become a commonly recognized means of payments, they keep on moving away from the original concept.
 
75% of the experts belive that Bitcoin and other altcoins are likely to stay flat in the coming days, with the bears slightly dominating the market, which may also trigger a move down to the 7500-7700 area. A rally above 8500-8600 is something that only 25% ofthe experts belive in at this point.
 

 

You are free to discuss this article here:   forum for traders and investors

 

Add to blog
Got a question? – Ask it here »
 

JPMorgan: Bitcoin Turned Into Asset and Survived March Crisis

JPMorgan Chase, one of the biggest banks in the United States and the entire world, analyzed the March crash of the cryptocurrency market and published a report on the results of this research. Bitcoin occupies the lion's share of the report. So, the analysts made the conclusion that the BTC market is getting mature, which is confirmed by a strong correlation with most stock markets.

Publication date: 25 June 11:54 AM

Investment Interest In Bitcoin Drops After Halving

Publication date: 21 June 11:33 AM

Ethereum Is Less Private Than Bitcoin

According to a group of Hungarian experts who decided to examine the Ethereum network, ETH transactions turn out to be less private than BTC transactions. The experts published the results of their research after studying a bunch of several, pretty specific functions of Ethereum. Those functions usually make it possible to track the financial flows in the network.

Publication date: 15 June 02:28 AM

COVID-19 Keeps Affecting Dollar

Right before the start of another trading week of June 2020, NordFX experts came up with another set of market predictions for the forex and cryptocurrency markets. Their predictions are based on the consensus forecast compiled from various market forecasts made by various market experts as well as the result of technical analysis. The period is June 15th - 20th. So, this is what those predictions look like:

Publication date: 14 June 10:55 AM

Goldman Sachs Discussed Cryptocurrencies

Publication date: 07 June 03:57 AM

NordFX Wins "Business Excellence" Award By WORLDCOB

The World Confederation of Businesses, WORLDCOB, which unites over 3500 members from over 130 countries of the world, has recognized NordFX's achievements by awarding the company with THE BIZZ Business Excellence Award.

Publication date: 04 June 08:09 AM

Revolut Reports 68% Increase In Crypto Trading

According to the data provided by a British financial company named Revolut, the limitations related to COVID-19 have been affecting the amount and cost of cryptocurrency transactions made by international users.

Publication date: 04 June 05:19 AM

Cryptocurrencies and Forex. Early June 2020.

Right before the start of the first trading week of June 2020, NordFX experts came up with another set of market predictions for the forex and cryptocurrency markets. Their predictions are based on the consensus forecast compiled from various market forecasts made by various market experts as well as the result of technical analysis. The period is June 1st - 5th. So, this is what those predictions look like:

Publication date: 01 June 08:47 AM

Annual Inflation of XRP Exceeds 20%

The annual inflation of XRP has exceeded 20%, which is 5 times as high as the inflation of BTC. The figures were provided by a research company named Messari. This is the highest annual inflation rate registered among cryptocurrencies with decent market capitalization. Apparently, a major increase in the amount of circulating coins leads to a cheaper coin, which is something that's going on with XRP.

Publication date: 01 June 06:10 AM

Bollinger Bands and Forex Strategies

In this article, we are going to take a closer look at a interesting tech analysis indicator called the Bollinger Bands. Any seasoned trader out there has probably applied this indicator to analysing the price chart in order to make a sound trading decision.
Publication date: 31 May 05:50 AM