Heroes of Ukraine

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

Thursday, 18 April 15:24 (GMT -05:00)



Foreign exchange market

NordFX Names Key Events for Forex and Cryptocurrency Markets


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 January 14-18, 2019.
 
EURUSD. To start with, the experts remind us that the cost of the common European currency depends heavily on crude oil and metal prices, which are commodities. It should be noted that the current state of affairs in the commodity market is in favor of the bulls, especially in the energy sector. The thing is that the OPEC is planning to get rid of the excessive oil supplies in the global market of crude oil. If that's the case, we are likely to see the prices grow, which in its turn, will definitely help the common European currency to strengthen its position against the U.S. Dollar. In the meantime, the Fed is repored to have decided to take a break from raining the interest rates. This makes some investors conerned. 
 
As a result, around 65% of the analysts participating in the consensus forecast, backed by 90% of oscillators and 70% of trending indicators on timeframe D1, vote for an uptrend. They assume the currency pair may rise all the way up to 1.1500, and further up to 1.1625.
 

1547307623_EURUSD_14.01.2019.png

 
At the same time, there are experts who expect the dollar to strengthen. In particular, they expect the currency pair to move back into the 1.1300-1.1500 price range to stay there for a long time. That's why they expect EURUSD to move down to 1.1400 first and fall another 100 points down afterwards. 
 
GBPUSD. Most indicators applied to GBPUSD are now green. At the same time, around 10% of the D1 oscillators indicate that the market is oversold right now. The graphical analysis of the D1 timeframe indicates the likelihood of the currency pair going down to 1.2600. As for the experts, the votes are split almost equally between the bull s and the bears, with the former having a slight edge over the latter.
 
At the same time, we should keep in mind several major events that may affect the situation. In particular, the British parliament is to decide on the Brexit. The voting is scheduled for January, 15. Chances are, the parliamentarians will reject the draft agreement put forward by Theresa May. If that's the case, London will have to ask for another timeout in the Brexit process. At the same time, it's getting more and more evident that the UK government is not planning to quit the EU the hard way. This assumption alone has been backing a stronger pound. At the same time, higher oil prices are playing against the dollar and therefore supporting the pound. The bottom line is, it's useless to make specific predicting related to the currency pair until the voting results are maked public. When evaluating the situation, the experts only name the key levels of support and resistance. Support: 1.2780, 1.2720, 1.2660, and 1.2600. Resistance – 1.2925 and 1.3050.
 
USDJPY. The D1 indicators are currently voting in favor of a stringer yen. 65% of the experts share this opinion. They expect the currency pair to move down to 107.50-107.80, with a further plunge to 106.70. On the other hand, low interest rates in Japan have helped the currency pair to strengthen quite a lot so far while following the world's major stock indexes. With that being said, that allows the experts to expect a move to 109.80 and 109.45, with a possible move to 110.25-110.80.
 
Cryptocurrencies. Despite the fact that the market cap has been going down so far, the average amount of Bitcoin transactions has increased all the way up to 280.000, which is last year's highs. That's why it's useless to go on with the doomsday scenario for Bitcoin, the world's first and biggest cryptocurrency yet. 
 
At the same time, there is a really high probability of BTC/USD breaking back below 3.700 dollars per coin, with a chance of getting even lower - down to 3.250 dollars per coin. This is the scenario backed by 45% of the experts. the rest of the, think that the currency pair will stay within the 3.685-4.385 range. As for the bullish scenario implying a move up to 5000 dollars per coin, the experts are really cautious about making such predictions, especially for the near future. As for Ethereum, they think that the ETHUSD is likely to go up in value after the forking process resulting in Constantinople. 

 

 

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

 

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

ETH's At Local Highs: What's In For Ethereum And ICO?

Ethereum is back in the game! It's currently trading around 5-month lows. Still, the market seems to be showing some confidence that the coin has already overcome its existential crisis and managed to recover from crisis that started after the ICO bubble burst in 2018. Will ETH and ICO revive?

Publication date: 17 April 10:42 AM

NordFX Shares Another Forex and Cryptocurrency Forecast for Mid-April 2019

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: 15 April 10:54 AM

Weekly Forex and Crypto Prediction by NordFX. Mid-April 2019

Any exchange rate between any two currencies is the result of multiple factors affecting the currency pair at any given moment. At the same time, those exchange rates themselves are actually capable of affecting other processes important to specific countries and even the entire world.

Publication date: 09 April 11:01 AM

Weekly USD, GBP, and EUR Forecasts by FortFS

Last week, almost all of the emerging currencies gained some value against the U.S. Dollar. On the contrary, the so-called G10 basket of currencies stayed withing a rather narrow price range against the dollar, with the New Zealand Dollar being the only exception (it devalued by 1% over the reporting period).
 
Publication date: 08 April 12:06 PM

Near-Term Predictions for Russian Ruble by FortFS

On Monday, the Russian Ruble exchange rate increased by 0,9% up and reached 64 rubles per dollar. The Russian currency managed to regain a part of Friday's loss. Russian assets (currency and bonds) had gained support from a exposure reduction slowdown coupled with higher oil prices. 

Publication date: 03 April 10:16 AM

Billionaire Predicts Major Rally for Bitcoin

Michael Novogratz, a billionaire and investment banker, thinks that the Bitcoin exchange rate is going to skyrocket within the next 20 years. In particular, he believes that in two decades, the market cap of the world's first cryptocurrency will exceed the one of gold. For that, the BTC rate will have to increase by 10000% to reach 7,5 trillion dollars.

Publication date: 26 March 12:32 PM

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

The situation in forex, which is the international currency market, has always influenced many other fields of human life worldwide. In the meantime, traders and investors rely on accurate forex forecasts to earn money. That is why Market Leader keep on telling you about those weekly consensus forecasts, courtesy of NordFX. In particular, the local expert team has come up with another forecast based on the time-tested approach, which boils down to studying tons of related sources, expert opinions, as well as predictions made based on technical and graphical analysis.
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

 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: 03 March 11:09 AM