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Thursday, 9 July 16:39 (GMT -05:00)



Foreign exchange market

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:
 
- EUR/USD. At this point, it's hard to say whether the demand for risky assets is going to recover in the near future. The balance of market powers will definitely be guided by the progress in fighting the COVID-19 pandemic, the trade conflict between the USA and China, as well as the price war going on in the crude oil market.
 
According to 60% of the experts participating in survey, the currency pair is unlikely to plunge below 1.1200 in the near future. The current levels of resistance are 1.1425 and 1.1500.
 
The remaining 40% count on the currency pair moving back into the 1.0955-1.1000 range. The forecast is backed by the chart analysis on H4. The closest major level of support is 1.1100. Most of D1 trending indicators and oscillators are pained green since the bulls are currently dominating the EUR/USD market on this timeframe. As for H4, the picture is the opposite. However, only 15% of the oscillators are indicating an oversold market.
 
- GBP/USD. Some experts point to the fact that a major low was set in April in terms of the UK's economic activity. Some improvements are expected to come in Q3 2020. International investors are currently waiting for big news in the coming days. 45% of the experts are bullish on GBP/USD, backed by H4.
 
35% are bearish, backed by D1. THe remaining 20% are neutral, expecting a flat market between 1.2400 and 1.2645. The next bullish targets are 1.2815 and 1.2900. The bears are looking to reach 1.2355, 1.2265, and 1.2165. 75% of H4 indicators are pinted red. D1 indicates a controversial picture - with 3 almost equal groups - bearish, bullish, and neutral.
 
- USD/JPY. 40% of the experts expect a rally with moving inside the 108.25-109.70 area. 35% and 25% expect a plunge and a flat market respectively. It's interesting to note that the scenarios aren't backed by the tech picture.
 
- BTC/USD. International experts are looking forward to another rally of Bitcoin and altcoins. In the meantime, BTC/USD is trying to consolidate in the area between 10K and 11K dollars per coin. 55% of the experts believe Bitcoin will reach this the top of the area by the ned of June. 15% expect a flat market between 9K and 10K dollars per coin. The remaining 30% are bearish - expecting a move down to 8K-8,5K dollars per coin. The greed and fear index is in the fear zone, which is why traders should be careful when considering long trades.
 

 

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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

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

EU To Launch Anti-Crisis Fund

France and Germany, the economic leaders of the European Union, have promoted the idea to start a special fund to back the economic recovery after the crisis.
Publication date: 30 May 04:31 AM