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Stan NordFX
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June 18, 2018, 09:24:58 AM
 #1

NordFX is an international broker which provides individual and corporate clients a full range of services for trading in the forex, gold, silver and cryptocurrency (at present, 14 crypto currency pairs are available, consisting of the most popular cryptocurrencies to the US dollar).

The company was founded in 2008. In all its endeavours NordFX maintains state of the art technologies and cutting-edge software, whilst constantly expanding the spectrum of financial instruments and services it offers. During its years of operation NordFX has seen over 1,200,000 accounts being opened by clients from over 100 countries.
Investments in global stocks with high income and with capital protection up to 100%, and RAMM, the newest system for the automatic copying of trade signals with risk level control, are among services offered by NordFX.

NordFX is distinguished by minimal spreads, immediate order execution, and a leverage ratio up to 1:1000, which is available for all currency pairs and metals. Fixed margins for crypto pairs are indicated in the account specifications. Accounts, as well as funds deposit/withdrawal are available both in USD, and in Bitcoins and Ethereums.
  • Leverage of up to 1:1000 for all currency pairs and precious metals
  • Uses the world’s most popular trading platform MetaTader 4, and associated mobile applications
  • A minimal deposit of 5 USD
  • Minimum spreads starting at 0 points
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  • Accounts can be in USD, Bitcoins and Ethereums

The NordFX Partnership Programme has been named the ‘Best Affiliate Program 2016’ by Forex Awards.
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https://nordfx.com
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June 18, 2018, 09:27:17 AM
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Forex Forecast and Cryptocurrencies Forecast for June 18-22, 2018

First, a review of last week’s forecast:
 
- EUR/USD. Billionaire George Soros is confident that further strengthening of the dollar will lead to a new financial crisis. At the same time, 10 out of 60 analysts interviewed by Reuters believe that the growth of the US currency will be completed within a month, 35 are confident that the strengthening of the dollar will last at least until the fall, and another 15 give the USD growth until the end of the year. Experts from ABN Amro are among the latter, they believe that the euro should fall to the level of 1.1000, and only then, in 2019, it will be able to restore some of the lost ground.
Interestingly, the decision of the US Federal Reserve to raise the interest rate to 2%, which was announced last week, did not surprise anyone. The information that this year should expect two more similar increases, and three in the future did not cause a stir either. The euro quickly recovered and, moreover, demonstrated growth against the background of these events to the level of 1.1850.
But the ECB's decision to extend the quantitative easing (QE) regime instantly dropped the euro against the dollar by more than 300 points. Our experts had named the level 1.1570 as the main support zone, to which the EUR/USD did rush. Due to the unusually powerful bearish impulse, by inertia, it even dropped 30 points lower, however, after coming to its senses, it soon turned around and completed the trading session at 1.1610;

- 65% of analysts expected further correction of the GBP/USD to the level of 1.3615, after which it had to resume its movement to the south. However, the pair could not rise even above the level of 1.3445 and rushed down again, trying, as on May 29, to break through support in the zone of 1.3200. And, just like in May, the attempt failed, after which the pair returned to zone 1.3280;

- USD/JPY. 50% of analysts supported the growth of this pair, referring to the horizons as 110.25 and 111.40 as resistance, between which, at 110.60, it completed the five-day period;
 
- Cryptocurrencies. In recent days, following their leader bitcoin, almost all of them have broken through important support levels and moved further south, testing new horizons. Thus, BTC managed to break through supports of $7,125 and $7,000 and reached a weekly low of $6,110 on June 14, then it managed to win back about 7% and rise to $6,575. Similar dynamics were demonstrated by the remaining virtual currencies included in the TOP-10 market capitalization.
Since the beginning of the year, the crypto market capitalization has decreased by 44.3% (from $611 billion to $340 billion). Just over the night of 10 to 11 June, the market shrank by another $25 billion. Many traders and analysts tried to explain this collapse by the Coinrail exchange in South Korea being hacked, but in reality, it lost only $40 million, so the theft was most likely just an excuse for another lowering the price of crypto-coins.
 

As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
 
- In addition to the extension of the QE program mentioned above, the ECB's decision to leave the benchmark interest rate at a record low of 0%, and the deposit rate at -0.4%, also exerts strong pressure on the euro. It was also stated that these rates will not be raised "at least until the summer of 2019". At the same time, Mario Draghi admitted that the economy of the Eurozone in 2018 will not return to the forecasted level of growth.
All this, coupled with the success of President Donald Trump's economic policy, creates significant prerequisites for the further strengthening of the dollar. That's why 65% of experts expect that in the coming week the EUR/USD will test the level of 1.1500 and, if successful, could drop another 100 points lower. 90% of the oscillators on H4 and D1 also agree with this development,
As for the remaining 35% of experts, in their opinion, the pair still has chances to return to zone 1.1825, but the likelihood of such a development will depend on what the ECB Head Mario Draghi and the Fed, J. Powell, will say in their statements earlier this week;
 
- it is clearly visible on the GBP / USD chart that the pair moves in the lateral channel 1.3200-1.3470.for the fourth week in a row. At the same time, 60% of analysts believe that, following the euro, the British pound will also continue its decline. In their view, the pair GBP/USD may as well break through the lower boundary of this channel and move to the level of 1.3050-1.3200. This scenario is supported by graphical analysis on D1 and the absolute majority of indicators.
An alternative point of view, represented by 40% of experts, suggests the movement of the pair in the side corridor 1.3200-1.3345. The next resistance is in the zone is 1.3400.
On Thursday, June 21, the next meeting of the Bank of England should take place. However, with a high probability, it will not present any surprises, so it is not worth it to expect serious exchange rate jumps at this moment;

- a day earlier than their British counterparts, the Committee on Monetary Policy of the Bank of Japan will hold a meeting. As for the experts, two-thirds of them cautiously support the small growth of the pair USD JPY to the area of 111.00-111.50. The next resistance is 112.00.
This time, a third of analysts, graphic analysis on H4 and D1, as well as 20% of oscillators, side with the bears, signalling the pair is overbought. In case their scenario turns out to be correct, the pair is expected to decline first to support 109.40, and then, possibly, further - to levels 109.00 and 108.50;
 
- Most of the forecasts for basic cryptocurrencies can be reduced to just two sentences: 1) in the near future they will continue to fall, and 2) they should grow in the long term. For example, according to the forecast of Fundstrat Global Advisors analysts, the bitcoin can fall to the level of $ 3,250. However, even this, in their opinion, "will not break the long-term ascending trend of the first cryptocurrency".
The closest target for BTCUSD, according to the founder of Onchain Capital Ran Neuner, is the level of $5,900. The optimistic part of his forecast is that "if the price of the bitcoin reaches 20, 40 or 80 thousand dollars within a few years, then no one will be worried about whether it was bought for $6,000 or $6,500. Only traders working on a scale of less than a year should be concerned about the current drop in the market price. "The only thing that the expert didn't specify is when this long-awaited take-off to 80,000 takes place.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/
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June 21, 2018, 10:20:28 PM
 #3

NordFX: An All-In-One Traditional Forex Broker and Crypto-Exchange

Bringing together innovations in finance and IT, NordFX continues to actively expand the roster of services it offers to enhance the profitability of clients’ trading and investment. In this spirit, just a few weeks ago NordFX announced the creation of RAMM-service—a unique platform for auto-copying trading signals whilst controlling risk levels. Yet another innovative solution is the possibility of using the well-known MetaTrader 4 terminal as an exchange for cryptocurrency trading.

This new solution developed by NordFX experts is a peer-to-peer trading system based on an exchange-style framework in which clients trade exclusively with each other, with orders being executed immediately at the best prices provided by other participants.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/nordfx-all-in-one-traditional-forex-broker-and-crypto-exchange/

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June 24, 2018, 09:32:58 AM
 #4

Forex Forecast and Cryptocurrencies Forecast for June 25-29, 2018


First, a review of last week’s forecast:
 
- EUR/USD. Most experts (65%) expected the pair to make an attempt to break through the 1.1500 support, which actually happened. However, the attempt failed, the bears' strengths weakened and, against the background of a temporary lull in the trade war between the US and China, the dollar lost about 160 points to the euro, pushing the pair to the PivotPoint zone of the last six months and finishing the five-day period at 1.1657;
 
- 60% of analysts spoke in favor of the fact that the GBP/USD could break through the lower boundary of the four-week channel 1.3200-1.3470 and fall to the horizon 1.3050. This forecast was correct: on Tuesday, June 19, the pair was below the support of 1.3200, and on Thursday, June 21, it reached the level of 1.3100. However, then the Bank of England presented a small unexpected surprise. Instead of the projected 2 votes against 7, the interest rate increase received 3 votes. Of course, this did not bring any basic changes, but the bulls understood such a result as a hint of a possible rate hike in August and began to push the pound up. As a result, by the end of the week session, the pair was able to rise to 1.3260;

- USD/JPY. The results of the previous week showed once again that signals of even a small part of oscillators should be taken into account. So, this time 20% of the oscillators signaled the pair was overbought. They were supported by a third of analysts and graphical analysis on H4 and D1, indicating the main support in the zone 109.40. Taking a standard backlash into account, this forecast turned out to be absolutely accurate: the pair reached the local bottom at 109.54 on Tuesday, after which it rebounded up to a height of 110.75, and then returned to the main medium-term support/resistance line in the 110.00 zone;
 
- Cryptocurrencies. Back in early June, the total capitalization of this market was $330 billion, now it is $283 billion, that is, in just a few weeks the market was "blown away" by about 15% (more than 50% since the beginning of the year).
If you look at the BTCUSD chart, you can observe the same picture for the seventh week: strained bulls' attempts to raise the pair up, and then a weekly sharp collapse, which negates all their efforts. As a result, having fallen to the level of $5,925, the bitcoin has reached the minimum of February 6, 2018.
It really does not make sense to talk about the reasons for such falls now - whether this is a negative decision of yet another regulator, or hacking of yet another exchange. All these are just reasons to "sink" the rate of the main crypto currency by another few hundred dollars. Altcoins included in the TOP-10 in terms of capitalization - etherium, ripple, litecoin and others, - obediently follow the bitcoin down, adversely affecting the mood of the market.
 

As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
 
- as for the economic data, which can continue pushing the EUR/USD upwards, we can note only a slightly noticeable growth of the Eurozone composite PMI index. Apparently, this is the reason why 55% of experts give only a very cautious forecast, indicating the zone 1.1725-1.1750 as a target. The vast majority of indicators on H4 are also painted green, but it is already 15% of the oscillators that indicate that the pair is overbought.
The remaining 45% of analysts are sure that the growth of the euro is a temporary phenomenon, and the pair will once again test the level of 1.1500, and in case of its breakdown it will drop 100 points lower.
But the graphical analysis on D1 offers a compromise option: first the pair's fall into the zone 1.1450-1.1500, and then its growth to the height of 1.1840;
 
- the main trend for the GBP/USD so far is formed by the chief economist of the Bank of England Andy Haldane, who gave his vote on Thursday for raising the interest rate. In addition, the regulator has given a positive assessment to the British economy as a whole and indicated a readiness to reduce the balance after the rate rises to 1.5% (against 0.5% of today). Such "hawkish" statements led to the fact that 65% of experts expect the continuation of the uptrend and the pair's transition to the zone 1.3350-1.3450.
The remaining 35% of analysts seem to belong to the conspiracy theorists and believe that all statements of the regulator are only attempts to support the rate of the pound, which has lost more than 1,000 points since April. Proceeding from this, these experts believe that the fall of the pair will continue and it will reach the level of 1.3100 in the near future. The next support is 100 points lower.
 
- As for the pair USD/JPY, the opinions of analysts were divided equally - half are for the growth of the pair, half are for its fall, and both indicate a decrease in volatility. The support levels are 109.85 and 109.50, the resistance is 110.25 and 110.60. The graphical analysis on H4 agrees with the experts, indicating a gradual consolidation in the 110.10 zone.
It should be noted that about 15% of the oscillators indicate the pair is oversold, suggesting the correction of the pair up in the near future.
 
- Cryptocurrencies. It seems that the critical time is approaching, when market makers will have to decide whether the bitcoin should continue falling, or the trend should turn upwards.
If the BTC/USD confidently passes the support in the $5,900-6,100 zone, it is highly likely that after some time it will be seen near the horizon $4,300, where it stayed for a long time in last August-September.
If this support proves invincible, the bulls will do their best to bring the bitcoin back to the May highs and maybe even reach the coveted mark of 10,000.
The struggle in the main virtual currencies market is expected to be serious in the near future, and in conditions of such uncertainty, it is possible that crypto traders should not wait for any obvious powerful trend to appear, but it makes sense to focus on intraday trading .And this concerns not only the bitcoin, but also all the basic altcoins.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/
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July 01, 2018, 02:22:03 PM
 #5

Forex Forecast and Cryptocurrencies Forecast for July 02-06, 2018


First, a review of last week’s forecast:
 
- EUR/USD. The forecast for this pair turned out to be almost 100% correct. Recall that we spoke of a slight increase to 1.1725-1.1750 (and the pair actually climbed to 1.1720), as well as its possible drop and another attempt to test the level of 1.1500 (on Thursday the pair dropped to the horizon 1.1525). In the end, while maintaining the balance between bulls and bears, it returned to the Pivot Point zone for the last one and a half months and completed the five-day period at the level of 1.1680;   
 
- GBP/USD. Thanks to the votes from the Bank of England, a positive mood prevailed in the analysts' camp last week - 65% of them expected a pair to rise above 1.3350. However, those 35% of experts who believed that all hawkish statements of the regulator were nothing more than an attempt to support the rate of the British pound, which had lost more than 1,000 points since April, turned out to be right. According to their forecasts, the pair was to fall into the zone of 1.3000-1.3100. That's exactly what happened: the local bottom was found exactly in the middle of the zone, after which the GBP/USD returned to 1.3200;

- USD/JPY. Once again, the oscillators turned out to be right - 15% of them pointed it was oversold, and that was enough for the pair to go up. At the same time, it stayed within the rather narrow monthly lateral channel 109.20-110.90, which confirmed the consolidation of the pair in the 110.10 zone;
 
- Cryptocurrencies. The forecast for BTC/USD said that if the pair confidently passes support in the $5,900-6,100 zone, with a high probability, after a while it will be seen near the horizon $4,300. And it was on June 28, that the bears decidedly went for a breakthrough. It seemed that the collapse was imminent, but when it reached $5,790, the pair first froze, and then jerked up on June 30, reaching a height of $6,525. As a result, over a day, bitcoin has grown by more than 10%, the reason for which was the mysterious large-scale purchase of BTC by an unknown investor, which occurred after the CME futures closed.
Many altcoins went into the growth. following bitcoin. The highest growth was demonstrated by Bitcoin Cash + 13% and Litecoin + 11%. The average growth of the top twenty cryptos was 7-10%.
 

As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
 
 - Last week, the short-term growth of the EUR/USD was caused by the results of the EU summit and the agreement on migration issues reached. However, in the near future it is hardly possible to have a release of new economic data, which would push the pair EUR/USD further up. The publication of the data on the labor market in the United States (NFP) on Friday July 07 is of particular interest, but the information on the possible tightening of the Fed's monetary policy may be on the other side of the scale. As a result, according to 35% of experts, the pair will be able to stay in the side corridor 1.1500-1.1725.
At the same time, it is possible that it will still be able to break the upper boundary of this channel and rise to zone 1.1725-1.1825. This version is supported by 20% of analysts and graphical analysis on H4
The remaining 45% of experts, together with graphical analysis on D1 and 15% of oscillators signaling that the pair is overbought, believe that it will once again test the level of 1.1500, and in case of its breakdown it will drop by 100-150 points lower;

- A similar picture is drawn by graphical analysis for the GBP/USD as well: on H4, a rise to the level of 1.3300-1.3335, and a fall into the zone 1.2900-1.3100 on D1. 15% of the oscillators also agree with the latter scenario.
As for the experts' opinion, they are divided almost equally: 35% support the growth of the pair, 35% are for its fall and 30% favor the sideways trend.
We can assume from all of the above, that the pair will continue to move east along the horizon 1.3200, fluctuating in the range 1.3050-1.3325.
If we talk about a medium-term forecast, 65% of analysts have supported the growth of the pair to 1.3450-1.3615 zone, and only 35% have voted for its fall below the level of 1.3000. In the event that the head of the Bank of England, Mark Carney, directly or indirectly confirms the "hawkish" statements of his colleague Andy Haldane in his speech on Thursday, July 05, the pair's jump may be expected as early as this week;

- USD/JPY. Despite the fact that it is already 10% of oscillators on H4 and D1 that give signals that the pair is overbought, most experts (55%) still expect the pair to grow at least to the 111.45 horizon. And it is only after that, in their opinion, it can return to the support of 110.00. This development is supported by graphical analysis on D1, it warns that, if this level is broken through, the pair can very quickly drop another 100 points lower;

- Cryptocurrencies. Seeing the latest jerk up of the bitcoin, the crypto world wondered: what was this? The long-awaited turn of the trend and the fulfillment of John McAfee's prophecy that bitcoin will cost $1 million per coin by 2020? Or just another trap? And, maybe, the IMF's Kenneth Rogoff was right, when he said that by the end of the year the rate of this forefather of virtual currencies will fall to some miserable $100?
Perhaps the answer to this question remains to be seen soon. For now, as the ancient Greek sage Skelef said, everyone sees what he wants. Analysts who are optimists say that if bitcoin confidently overcomes the level of $ 6,700, it will be a strong enough positive signal for the trend to change. As for the pessimists, we see the last breath of a dying coin. And if the pair BTC/USD is fixed below the horizon of $5,900, it is highly likely that after a while it will be possible to be seen about $4,300, and then even lower.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/
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July 08, 2018, 11:02:30 AM
 #6

Forex Forecast and Cryptocurrencies Forecast for July 09-13, 2018


First, a review of last week’s forecast:
 
- EUR/USD. The forecasts of the majority of experts (55%) included the level of 1.1725, which the pair must have achieved this week. And this was what happened. Positive economic data from Germany as well as not the rosiest statistics from the labor market in the US (NFP declined by 12.7%), and the once again inflaming trade war between the US and China side with the Euro. As a result, the pair gradually, step by step, reached the height of 1.1765. Then a small correction followed, and it completed the trading session at the level of 1.1745;
 
- GBP/USD. Summarizing rather contradictory opinions of analysts and indicators, we assumed that the pair would continue to move to the east along the horizon 1.3200, making fluctuations in the range of 1.3050-1.3325. And, judging by the graph, this forecast turned out to be correct. Starting from 1.3200 mark on Monday night, the pair first fell to the level of 1.3093, then turned and went up, rising to the height of 1.3285.
The pound was once again supported by "hawkish" statements coming from the Bank of England, and the prospect of the interest rate raising. The growth of activity in the service sector of Great Britain also added optimism for the players;
 
- USD/JPY. The scale that determines the quotes of this pair, on the one hand has the super soft monetary policy of the Bank of Japan, and on the other - the trade wars raging on the continents, as a result of which more and more investors choose the currency of this island state as a refuge.
Proceeding from this, most experts, supported by graphical analysis on D1, expected the continuation of fluctuations in quotations and the struggle between bulls and bears. According to their forecast, the pair had first to rise to the horizon of 111.45 (it grew to 111.15), and then go down to support 110.00 (in fact it reached the level of 110.27). Then another cycle of fluctuations followed, and the pair completed the five-day period at 110.46, confirming its strive for consolidation in zone 110.10;
 
- Cryptocurrencies. After the jump on June 30, the pair BTC/USD continued to grow and managed to even reach $6,780, after which it rolled back down. Recall that the optimistic forecast for the past week said that if bitcoin confidently overcame the level of $6,700, it would be a strong enough signal to the long-awaited trend change. However, despite a significant growth, there has been no real breakthrough of this resistance, and the level of $6,600 can be considered as the Pivot Point of the last days.
Following the bitcoin, the Ethereum (ETH/USD) showed a certain growth, although the level of $485 can be considered the upper limit of a two-month down channel. And, in case of a rebound from it, the pair can fall to the price of 360 dollars per coin.
As for the Litecoin (LTC/USD) and the Ripple (XRP/USD), they moved into a sideways trend, ending the week in the same place where it started.
 

As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
 
- 60% of experts, supported by graphical analysis on D1, believe that the growth of the EUR/USD may continue, but it will be a small one. The level 1.1800 is named as the main resistance. The next resistance is 50 points higher. Next, during July, the pair again expects a decline to the support of 1.1500 and another attempt to break through it.15% of oscillators on H4 and D1 agree with this development of events, giving signals that the pair is overbought.
No "revolutionary" news is expected next week. However, we should pay attention to Thursday July 12. On this day data on the growth rates of industrial production in the Eurozone will be published, as well as statistics on the consumer price index in the United States. According to analysts, the rate of inflation in the US over the past month has accelerated, which could push the Fed to another interest rate hike and, as a result, render additional support to the dollar;

- For the pair GBP/USD the graphical analysis on H4 and D1 draws a rebound from support 1.3225, growth to the 1.3400 zone and the subsequent sharp drop to the horizon of 1.3000. As for the experts, in the current situation they are waiting for news from the UK.
Thus, on Tuesday July 10 data on the growth rates of industrial production for May will be published, and if it turns out that the April recession is completely overcome, the pound may rise above the 1.3300 mark.
Another speech by the head of the Bank of England may provide support for the British currency on Wednesday July 11, if Mark Carney again talks about the forthcoming tightening of the monetary policy.
The government of Great Britain can play against the pound. In the near future, it must submit its draft agreement on Brexit to the EU, and if it does not contain any important aspects for the economy of the country, the pound may again be under serious pressure;
 
- USD/JPY. The trade war between the US and China is again in full swing. On July 6, the duties on imported Chinese goods mounting to 25% entered into force. Washington is expected to increase sanctions by another $200 billion, to which China threatens to respond by selling off US treasury securities.
Against this background, as already mentioned, there is a growing demand for the yen, as a safe shelter currency. The pair USD/JPY rose by about 6.7% over the past four months. As for the upcoming week, most analysts (60%) expect the continuation of its growth to the level of 111.40. The remaining 40% believe that the pair has moved to a lateral movement and will be held in channel 109.35-110.80. The next support is at the level of 108.65;
 
- Cryptocurrencies. The major question for the near future is whether the bitcoin continues its growth or rolls back. At present, it is clearly aiming at overcoming the $7,000 mark, and buyers are not leaving the market yet. However, even now indicators show that this cryptocurrency is overbought, and, in case of any negative news, the trend can very quickly turn from bullish to bearish, returning the pair to the June lows.
On the other hand, a number of experts predict the continuation of the growth of the BTC/USD, naming as one of the numerous reasons the comeback of many investors disappointed in altcoins to this cryptocurrency, the long absence of bad news, and, paradoxically, the low volume of trading. The latter means that the desperate have already left the ship, and those who wish to sell these coins are extremely few. There remain only those who, no matter what, are ready to keep the bitcoin either till the full victory or the complete collapse. That is why the optimists keep saying that by the end of the year BTC will cost at least $50,000 (Arthur Hayes, BitMEX), or at least $25,000 (Tom Lee, FundStrat).


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/
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July 09, 2018, 04:09:31 PM
 #7

In this online market, there are too many brokers. People always use several brokers and when he comfortable one broker associate, he use always the same broker. Nordex is a very new broker so people always afraid to use a new broker that I analysis this broker associate and I got some good news about this broker. If you want to use this broker you can use it and must use 2Fa verification code.
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July 16, 2018, 06:38:17 AM
 #8

Forex Forecast and Cryptocurrencies Forecast for July 16-20, 2018


First, a review of last week’s forecast:
 
- EUR/USD. The forecast for this pair turned out to be absolutely correct. Recall that it assumed first a small growth of the pair to the resistance of 1.1800 (in reality, it rose to the height of 1.1790), and then a fall (it fell to the level of 1.1620). After that, a rebound followed, and the pair completed the trading session in a strong support/resistance zone 1.1685;
 
- GBP/USD. Despite the fact that the volatility was somewhat less than expected, the main trends for this pair were fairly accurately pointed by the graphical analysis on H4 and D1. According to its scenario, the pair was expected to grow to the 1.3400 zone (it rose to 1.3360), and then a sharp drop to the horizon of 1.3000 was expected (it fell to the level of 1.3100).
As expected, another blow to the pound was caused by the government of Great Britain. Last week, key Brexit ministers resigned - Foreign Minister Boris Johnson and Secretary for Brexit David Davis, which put an extra pressure on the pound;
 
- USD/JPY. Despite the trade war between the US and China and the growing demand for the yen as a safe haven, the super soft monetary policy of the Bank of Japan still plays against the currency of this island nation. The main blow to the yen was caused by the rapid growth of Asian stocks and, accordingly, the indices Nikkei and MSCI Asia Pacific. As a result, it fell against all G-10 currencies and lost more than 240 points against the US dollar.
At the end of the five-day period, the traditional correction followed, and the pair froze at 112.35;
 
- Cryptocurrencies. We warned that in the event of any negative news, the ascending trend of bitcoin could very quickly turn from bullish into bearish, leading the pair to June lows. It was said multiple times that in fact all this news is only a virtual excuse, using which large speculators start moving virtual currencies up or down. How, for example, could the theft from the Swiss platform Bancor "some" $23.5 million ($13.5 million according to other sources) affect the sinking of the whole market? No way it could, but as a result, bitcoin collapsed by almost 11%, dragging along all the main altcoins as well.

 

As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
 
- EUR/USD. Oscillators on both H4 and D1 are in complete disarray as to the future of this pair - about a third of them are green, one third are red and one third are neutral gray. As for analysts, 80% of them, supported by graphical analysis on D1, believe that the pair will continue its movement to the horizon 1.1500. Nearest supports are at the levels of 1.1625, 1.1590 and 1.1550.
The upcoming meeting of the presidents of the United States and Russia on Monday, July 16 may strengthen the dollar. Experts do not expect any significant breakthrough from this meeting, but if both leaders express certain optimism on its results, this can play into the hands of the American currency.
An alternative point of view is represented by only 20% of analysts. In their opinion, the pair can once again test the level of 1.1790 and, if successful, rise to resistance 1.1830;
 
- GBP / USD. The resignation of the two main Brexit negotiators means that British Prime Minister Teresa May chose a soft option for her country to leave the EU. And if she keeps her post, this can strengthen the position of the pound in the future. However, right now the market is negative and most analysts (70%) predict the continuation of the fall of the pair GBP/USD first to the level of 1.3100, and then another 50 points lower.
10% of oscillators agree with this forecast, indicating that the pair is overbought, as well as graphical analysis on D1. At the same time, the latter points out that the pair can move in the side corridor in the range 1.3 190-1.3285 for a while;
 
- Also, 70% of experts expect strengthening of the dollar to the Japanese yen as well. In their opinion, the pair USD/JPY will seek to reach the highs of last December in the zone of 113.50. The next goal for it is the last November high. - 114.75.
The graphical analysis on H4 also agrees with this development of events. But on D1, it draws an opposite picture - the fall into the zone 110.25-111.15, and then even lower - to support 109.35.
It should be noted that even now a number of analysts are calling for being very cautious with the dollar, as this currency, according to their forecasts, has already approached the overbought state;
 
- Cryptocurrencies. We listed the factors that could positively affect the growth of the pair BTC / USD, in the previous forecast. Now, a couple of words about the negative side.
In fact, it was quite simple to predict the drop of bitcoin last week - it is enough to connect the points A, B, C and D on the chart to see the attenuation of the rising trend. Now the capitalization of the market is again near the 2018 lows and is about $240 billion. If such drying continues, according to some experts, the process can acquire the character of a collapse. As a result, the bitcoin will be around $3000, and the total market capitalization will not exceed half of the current market capitalization.
Meanwhile, the pair BTC/USD is trading roughly midway between the June lows ($5,790) and the July highs ($6,830) and, if nothing extraordinary happens, it will likely stay in this corridor for a few more weeks.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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July 23, 2018, 10:41:16 AM
 #9

Forex Forecast and Cryptocurrencies Forecast for July 23-27, 2018


First, a review of last week’s forecast:
 
- EUR/USD. Recall that in the opinion of 80% of experts who were supported by graphical analysis on D 1, the pair was supposed to continue its descent to the horizon 1.1500. An alternative point of view was presented by only 20% of analysts who expected that it could once again test the level of 1.1790. However, adjustments to all these forecasts have been traditionally made by the summer and vacation season. As a result, the pair, as if tired of lying on the beach, could only lazily rise to the level of 1.1745, and then descend to the level of 1.1574. As for the end of the week, after Donald Trump criticized the Fed policy and the strong dollar, the euro won back the losses, and the pair returned to the upper half of the summer side channel, having stopped at 1.1720;
 
- The negative mood of the market in relation to the pair GBP/USD was supported by the majority of analysts (70%), who expected the continuation of its fall first to the level of 1.3100, and then another 50 points lower. This forecast turned out to be quite accurate: the pair reached the horizon of 1.3100 by the middle of the week, then it groped for the bottom in the support zone for the two-month downtrend channel - 1.2955, fought back and completed the five-day period near its central line at 1.3131;
 
- USD/JPY. Here, too, most experts (70%) expected the dollar to strengthen and the pair to seek to reach the last year's highs in zone 113.50. In the first half of the week, it was really soaring 80 points. However, the correction in the US stock market caused a decline in its quotes, the pair turned around and fell to the level of 111.40by the end of the week session;
 
- Cryptocurrencies. Two weeks ago, we listed some of the reasons that could lead to the bitcoin growth, and then assumed that the BTC/USD would hold in the range of $ 5,790-6830 for some time. But only if nothing extraordinary happens.
As it always happens with crypto-currencies, it happened - the major financial players announced their desire to enter this market. One of them was the investment giant BlackRock, the asset manager of 6.3 trillion dollars. Another locomotive was the company MasterCard, which registered a patent in the field of operations with bitcoin. All this strongly inspired the market, as a result of which the rate of this digital currency increased by about $1350 (21%), reaching $7.585.
Following the bitcoin, the main altcoins also moved up, but their growth, unlike the leader's, was short-lived, and by the end of the week the bears managed to restore their positions, if not completely, at least partially. For example, the pair XRP/USD, starting at $0.43, quickly rose to $0.52, but then as quickly fell to $0.45 per coin.

 

As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
 
- EUR/USD. The ECB's interest rate decision and the press conference of its head Mario Draghi are expected on Thursday July 26. But neither of these are expected to cause any special surprise to the market. More serious concern for the euro is caused by the visit of the European Commission officials to Washington, where they should discuss sanctions and counter-sanctions in the trade war between the EU and the United States with President Trump. The aggravation of the situation may again upset the pair, which is why 60% of analysts are waiting for its return to the level of 1.1575, and in case of its breakdown - to the June-July low at 1.1500.
15% of oscillators that signal the pair is overbought and the graphical analysis agree. With this scenario. However, on H4, graphical analysis indicates that before it falls, the pair can still rise to resistance 1.1790.The next resistance level is 1.1850;

- Macroeconomic data from the British Isles, as well as the situation with Brexit, do not inspire optimism, which also affects the analysts' forecasts. 65% of them, supported by graphical analysis on D1, are waiting for the continuation of the downtrend for the pair GBP/USD. Oscillators on D1 are also Painted in red, indicating it is overbought. Support levels are 1.2955 and 1.2830.
The remaining 35% of experts, together with the graphical analysis on H4, expect a growth of the pair, although small. The pound can also be supported by the UK GDP data, which will be released on Friday 27 July. It is expected that the GDP will grow by 2% compared to the previous quarter. Target levels for the pair are1.3190, 1.3245 and 1.3270;
 
- USD/JPY. Here a slight advantage is on the side of the bulls, if we talk of experts - they are 50%.45% side with the bears and 5% abstained. {0Graphical analysis on H4 and 80% of oscillators on D1 are for the growth of the pair as well. The nearest targets are 112.20 and 112.65, then 113.15 and 114.00.
An alternative point of view, apart from 45% of experts, is supported by graphical analysis on D 1 and most oscillators on H4. The support levels are 110.75, 110.30 and 109.75;
 
- Cryptocurrencies. If last week the crypto market capitalization was close to the 2018 lows and amounted to about $240 billion, by Wednesday July 18 it was close to $300 billion. But more importantly, the share of buyers at that moment increased to 27%. The last time this happened was on April 8 this year.
However, the increase in volumes occurred too sharply - the first jump lasted only 20 minutes. And even though the bears suffered very significant losses - many short positions closed on stop-losses with significant losses, there is still no confidence in the change in the main trend for an increasing one for the BTC/USD.
By the end of Friday July 20, the pair continues to hold within a strong support/resistance zone of 7,270-7,730, which can be called Pivot Point of spring-summer 2018. It is possible that, despite being overbought, it will still attempt to break through its upper limit. Although, experts believe its decline to support 6,830 to be more likely.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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July 30, 2018, 09:13:02 AM
 #10

Forex Forecast and Cryptocurrencies Forecast for July 30 - August 03, 2018


First, a review of last week’s forecast:
 
- EUR/USD. The past seven days, like the previous one and a half months, did not bring any significant events, and the market is in a lazy-holiday mood because of that. The pair's volatility is 130 points, and the maximum deviation from the Pivot Point of the medium-range lateral channel (1.1660) is even less - only 90 points, after which the pair returns to the central zone. So it happened this time as well - at the end of the trading session, it froze at 1.1658;
 
- the GBP/USD pair also behaved weakly, gradually consolidating near the horizon of 1.3100. The range of British currency fluctuations was not much higher than that of the euro and amounted to only about 145 points. The pair finished the week at the level of 1.3102;
 
- USD/JPY. This pair was painstakingly drawing the head-and-shoulders figure for the whole month of July, although to some, it might be more like a cowboy hat. Last week was devoted to the right field of this hat, which means a sideways trend within the boundaries of 110.58-111.53. As for the end of the week, the pair met it in the middle of the channel at around 111.00;
 
- Cryptocurrencies. One of the development variants last week provided for a bitcoin attempt to break through the level of $8,000. And despite being overbought, it did it. The main growth driver was the expectation that the Securities and Exchange Commission (SEC) would still allow the Winklevoss brothers to launch Bitcoin ETF. The main trading volumes were traded at Japanese and South Korean crypto-exchanges.
But as soon as the BTC/USD approached the mark of $ 8,500, it became known that the SEC rejected the application of the brothers once again. As a result, bitcoin collapsed below the $8,000 horizon once again, losing about $630. However, the fall did not last long, and the pair once again broke through the eight-thousand level on Friday evening and reached the height of $8,275.
As for the main altcoins: etherium, ripple, litecoin, etc., they showed an average growth of 6-7%, following the bitcoin.

 

As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
 
- EUR/USD. The next week will be filled with events, which at another time could initiate quite strong movements in the market. However, at the present moment, surprises should not be expected either from the data on the GDP of the Eurozone, or from the values of the consumer price index, which will be announced on Tuesday July 31.
If we look at other developments concerning the euro/dollar pair, one can note the decision of the US Federal Reserve on the interest rate and the Fed's subsequent comment on Wednesday, August 1, as well as the publication of data on the US labor market on Friday, August 3. But here, most likely, there will be only a small short-term increase in volatility.
As for the oscillators, their indications on D 1 were divided into almost equal parts - one third are for the growth of the pair, one third are for its fall and one third are for the sideways trend. But as for the experts, the overwhelming majority of them (70%) still tends to see the pair reduce to the lower boundary of the medium-term side channel 1.1505-1.1850. However, it is possible that the pair will stay within the two-week zone 1.1575-1.1750 for some time, and only then it will go down. It is this scenario that is drawn by the graphical analysis on D1.
This time only 30% of analysts voted for the growth of the pair to the upper border of the channel 1.1850;
 
- The future of the British pound is not encouraging, even despite the possible increase by the Bank of England interest rate from 0.50% to 0.75%, which will be known on Thursday August 2. 65% of experts believe that the GBP/USD pair will continue its decline - first to the level of 1.3000-1.3070, and then to support 1.2955. The ultimate goal is the 2017 summer lows in the zone 1.2800.
An alternative point of view is represented by 35% of analysts who believe that the pair has reached the local bottom and will now return to the marks around 1.3200-1.3300. In their opinion, its rise during August to a height of 1.3450 is possible. 15% of oscillators side with the bulls as well, giving signals the pair is oversold;
 
- USD/JPY. Here, the experts who support the strengthening of the dollar and the growth of the pair, at least, to the zone of 111.75-112.20. are preponderant (60%) The graphical analysis on H4 fully agrees with this.
The remaining 40% place their hopes to Tuesday, July 31. On this day, the Bank of Japan is likely to leave Interest rate unchanged at -0.1%, but the comments of the leadership of this regulator have a chance to support the yen. But this will happen only if there are at least hints of a change in monetary policy and an increase in the interest rate to positive values. In this case, the support is at levels 110.60, 110.30 and 109.75;

- Cryptocurrencies. Traders, investors and miners have been looking forward to the bitcoin graph for the past few weeks. Since June 28, the rate of this currency has grown by 42%, and the total capitalization of the cryptomarket has exceeded 300 billion dollars. After the bitcoin reached the height of $8,500, there were quite a lot of chances that a $10,000 mark would be conquered. Moreover, many factors contribute to this. We list only a few of them:
- the first is the growth of political risks and, as a consequence, a decrease in the demand for "classical" assets and a decline in trading volumes in traditional markets. It is also possible to add instability in a number of countries, thanks to which crypto-currencies become a tool for saving the capital;
- the second factor is the emergence of new technological solutions for attracting large institutional investors at a number of crypto-exchanges;
- the third is more active recognition of cryptocurrencies at the state level, for example, in South Korea or in Venezuela. According to the statement of the president of this country, the Venezuelan currency bolivar will soon be tied to the national cryptocurrency Petro;
- the fourth one is the launch of a platform for the creation of crypto-exchanges;
- the fifth is statements of high state officials and other VIP-persons, like former Assistant to US President Steve Bannon, about their investments in bitcoin and other cryptocurrencies.
Experts believe that in case of growth of the pair BTC/USD above $10,000, there will be even more of those wishing to invest in bitcoin. As a result, there are more and more forecasts saying that the year-old rally may repeat, and bitcoin can rise well above $ 20,000 by the end of the year.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

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August 01, 2018, 10:32:49 AM
 #11

NordFX: Classical Broker and Crypto Exchange In One


NordFX is an international broker which provides individual and corporate clients a full range of services for trading in Forex, gold, silver and cryptocurrencies.

The company was founded in 2008. In all its endeavours NordFX maintains state of the art technologies and cutting-edge software, whilst constantly expanding the spectrum of financial instruments and services it offers. The company has been distinguished with 35 prestigious professional prizes and awards.  During its years of operation NordFX has seen over 1,200,000 accounts being opened by clients from over 100 countries.

Investments in global stocks with high income and with capital protection up to 100%, and RAMM, the newest system for the automatic copying of trade signals with risk level control, are among the unique services offered by NordFX.

NordFX is distinguished by minimal spreads, immediate order execution, and a leverage ratio up to 1:1000, which is available for all currency pairs and metals. Accounts, as well as funds deposit/withdrawal are available both in USD, and in Bitcoins and Ethereums.

Thanks to the unique developments of NordFX finance and IT technologies experts, the company has been able to create a completely new system of trading cryptocurrencies, which makes it possible to profit from both growing and falling cryptocurrencies. This system is a peer-to-peer trading system where clients trade exclusively with each other using world most popular MetaTrader terminals. The trading system is completely transparent: each limit order is visible to all bidders.

This development has significantly improved trading conditions for traders and investors. Marginal requirements are at the lowest level, for example, it will only take from $100 to $300 to open a position of 1 bitcoin (1 lot). As for maker traders, apart from profits from transactions, they can earn receiving commission rewards for every order opened by them.

In addition to trading major 14 cryptocurrency pairs, with the view to reduce trade risks and to stabilize profits, the company's clients are offered investments in four crypto portfolios managed by NordFX experts and including up to 15 different tokens targeting the most promising segments of the crypto-economic environment. For example, the expected return on the infrastructure and entertainment blockchain crypto portfolio is 1350% per annum, and the minimum investment requirement starts at $1,000, which makes these products available to middle-income clients.

In addition to ready-made crypto portfolios, clients, assisted by company experts, can also form their own portfolios, in accordance with their preferences as for the level of profitability and the degree of risk.

NordFX has been awarded the 2017 Forex Awards as the Best Asian Crypto Broker and the IAFT Awards as the Best Broker for dealing with cryptocurrencies, for its unique developments.


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August 05, 2018, 07:48:46 AM
 #12

Forex Forecast and Cryptocurrencies Forecast for August 06-10, 2018


First, a review of last week’s forecast:
 
- EUR/USD. The past week was filled with events, which at another time could initiate quite strong movements in the market. But not now, not at the height of the holiday season. We did not expect any surprises either from the data on the Eurozone GDP or from the values of the consumer price index. There was a little hope for the US Federal Reserve's decision on the interest rate and on the publication of data on the US labor market, but there were no special volatility outbursts there either. Even the drop in the NFP by 36.7% (from 248K to 157K) did not impress the market.
As a result, the situation was as had been expected by many experts: taking into account the standard backlash, the pair stayed within the two-week zone 1.1575-1.1750, reaching a maximum of 1.1745, then groping for the local bottom at 1.1560 and finally ending the five-day session at the mark 1.1567;
 
- GBP/USD. The future of the British pound was not encouraging, even despite the Bank of England's possible increase in the interest rate - 65% of experts considered that the GBP/USD would continue its decline to the zone of 1.3000.
This prediction turned out to be absolutely correct. On the eve of raising the rate, the pound grew slightly. Then, as expected, on Thursday, August 2, the regulator lifted it from 0.50% to 0.75%. But then the accompanying commentary made it clear that one should not expect another increase in the foreseeable future - they say, the economy is not all right, and there are problems with the Brexit. As a result, the pair turned around and quickly fell to the horizon 1.2975. And it met the end of the week's session exactly where the experts expected, at 1.3000;
 
- USD/JPY. The report on the monetary policy of the Bank of Japan, collapsed the yen, instead of strengthening it. The main theses from its head Haruhiko Kuroda speech were interpreted by the market as the intention to preserve ultra-soft policy and to stimulate the weakening of the Japanese currency by increasing the yield of 10-year government bonds.
As a result, the USD/JPY quotes jumped to 112.15. However, the pair did not manage to consolidate at this height and, having gone down about 90 points, it finished the week at the level of 111.25;
 
- Cryptocurrencies. This market was controlled by the bears for the whole week. The fact that bitcoin and major altcoins were recently overbought sided with the bears. The absence of positive news from regulators and market makers did not help the growth either.
As a result, the BTCUSD fell by $1,000, losing about 12% during the week, and reached the mid-July value around $7,280 per coin.
The Ethereum lost even more, about 14%, breaking at some point the support at $400. Litecoin lost 11%, but the ripple was more stable: having fallen by 7%, it then turned and gained back 2.5%;

 

As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
 
- EUR/USD. No significant events that could seriously affect the mood of the market are expected next week. Many indicators indicate a virtually total lack of activity. MACD on D 1 almost horizontally moves slightly below the zero mark for the fourth week running. Approximately 85% of all oscillators are painted red, but the remaining 15% are already signaling the pair is oversold.
As for the experts, 70%, supported by graphical analysis, still believe that the pair still should reach the lower boundary of the medium-term side channel 1.1505-1.1850, and only then go up. The remaining 30% have voted for the move in the narrower three-week corridor 1.1575-1.1750;
 
- the scenario for the future of the British pound is also negative. Most analysts (70%) are waiting for the pair GBP/USD to fall to the low of the summer of 2017 in the zone of 1.2800. This development is supported by all oscillators (except one) and graphical analysis on H4 and D1. The nearest support is 1.2955, the next one is 100 points lower.
An alternative point of view is represented by 30% of experts who believe that the pair has moved to a lateral movement in channel 1.2955-1.3210. The nearest resistance is in the area of 1.3100;
 
- USD/JPY. here most of the experts (75%) support the strengthening of the dollar .Despite the fall of the pair at the end of last week, it stayed within the medium-term rising channel, which began at the end of this March, and is now at the line of its support .The immediate goal for the pair will be the height of 112,000, the ultimate goal - 113.15.
If the the supporters of the bears win, the pair is expected to march to the south. In this case, the support is at levels 110.60, 110.30 and 109.75. It should be noted that, when moving from a weekly forecast to a forecast until the end of the summer, the number of supporters of such a scenario is growing among analysts from 25% to 45%.
The compromise version is offered by graphical analysis: first a decline to the level of 110.60, and then rise to the level of 112.00;

- Cryptocurrencies. Supporters of the Elliot wave theory can see the end of the 5th rising wave of the BTC/USD in the July 25 maximum. Thus, the subsequent fall is an impulse wave A, after which the market expects a corrective wave B and a rise to the zone of 7,800-8,000. The most optimistic goal for the first half of August is to take the height of $10,000.
However, the main indicators - both trend and volume indicators, as well as oscillators - do not yet give explicit signals for the trend change on timeframes D1 and W1. Therefore, in case the height $7,300 is broken down, it is possible to decline to the horizon $6,700. The strongest support is in the $6,000-6,100 zone - this is the level when mining becomes almost unprofitable.
According to one of the theories, one of the main reasons for the fall in quotes in 2018 in many respects are the miners. Their increased number resulted in a significant complication of the mining algorithm. And, as the price of bitcoins declined, and the profitability of mining was reduced, the owners of crypto farms began to get rid of the stocks of the coins they had mined, thus rendering themselves a truly bad service.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

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August 11, 2018, 01:49:34 PM
 #13

Forex Forecast and Cryptocurrencies Forecast for August 13-17, 2018


First, a review of last week’s forecast:
 
- EUR/USD. No matter how you see President Trump, the US economic policy demonstrates obvious success. Forecast for the US GDP in 2018 grows together with stock indexes, and the unemployment rate should go down by the middle of next year to the lowest level for the last 50 years. As a result of the US-led trade wars, the economies of the Eurozone and China have already begun to experience serious problems. Strengthening the success, Donald Trump is likely to increase import duties further, which allows American producers not to be afraid of the dollar strengthening.
At the same time, 88% of respondents interviewed by the Wall Street Journal expect that the Fed will increase interest rates four times this year. And it also fuels interest in the American currency.
And then the Turkish lira has hit the euro. Against the deterioration in US-Turkish relations over the past few days, it has "dried up" with respect to the dollar by about 25%.
It's no secret that a number of major European banks are lending to the Turkish economy, and a sharp reduction in the price of its currency can create serious difficulties for them. This is what an article in the Financial Times said, fueling panic. As a result, starting from Thursday August 9, the pair EUR/USD has sharply gone down.
Recall that 70% of the experts had voted that the pair would go down to the medium-term support 1.1505, which was reached by the pair on Friday. But it did not intend to stop there and fell another 120 points, groping for the local bottom at the level of 1.1385. At the end of the week's session, after a slight rebound, the pair was traded in the zone 1.1410;
 
- GBP/USD. The future of the British pound looks even gloomier than a week ago. The statements of the British Secretary of State for International Trade Liam Fox about 60% probability of a hard version of Brexit sounded in unison with the speech of the head of the Bank of England Mark Carney and strengthened the pessimism of the market.
Last week, most analysts (70%) predicted a decline of the GBP/USD to the minimum values of the summer of 2017, which was what happened. The weekly low was fixed at 1.2720, and the end of the five-day period was at 1.2765;
 
- USD/JPY. The expansion of the trade war between the US and China, combined with the Turkish crisis, play into the hands of the Japanese yen as a safe haven. As a result, it won back about 35 points from the dollar, finishing the week at around 110.90;
 
- Cryptocurrencies. This market was still controlled by the bears. Moreover, their pressure has greatly increased. The market capitalization has fallen by about 10% and now stands at about $230 billion.
In our last week forecast, we indicated that the strongest support for bitcoin is in the $6,000-6,100 zone, the level when mining becomes almost unprofitable. This forecast was 100% true: on Thursday August 8, the pair BTC/USD reached the low at $6,125, after which it fought back and rose to the area of 6,500.
The Ethereum (ETH) lost about 14.5% in the week, Litecoin (LTH) - 22%, ripple (XRP) - more than a quarter of its value.

 

As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
 
- the main factors that determine the movement of dollar pairs for the near future, have been described above. As for the EUR/USD, 60% of analysts believe that the dollar will continue to strengthen, and the pair will go down. Graphical analysis on H4 and D1, most indicators agree with this development. The target is the zone 1.1120-1.1300.
On the other hand, 40% of the experts have voted that the pair will be able to stay in the echelon 1.1370-1.1515 in the near future, which is confirmed by signals that it is oversold, which are filed by 15% of the oscillators;
 
- GBP/USD. Zone 1.2770 is a fairly strong level of support/resistance, which the pair repeatedly tested in both 2016 and 2017.
55% of experts believe that the negative momentum of the pair will continue for some time, and it may drop to support 1.2675-1.2720. As for the remaining 45% of analysts, in their opinion, the pair is already expecting a corrective retreat to the upper boundary of the medium-term downward channel in the zone 1.2940. And only after having reached this height, it will turn around and continue its movement to the south. Both graphical analysis and 20% of oscillators that signal the that this pair is oversold agree with this scenario;
 
- USD/ PY. If you look at the graphs on the time frames D1 and W1, you can see the expected breakdown of the lower boundary of the medium-term channel, which began at the end of last March. It is still too early to consider this a breakthrough, but almost 70% of experts, supported by graphical analysis on H4, believe that the strengthening of the yen, as a safe haven, will continue, and the pair will drop to at least 110.30. The next support is 100 points lower.
On the other hand, the Pivot Point area of the last 12 months can be considered the zone of 111.60-110.80, which indicates the possibility of the pair rebounding upwards - to the resistance of 112.00-112.25, with which 30% of analysts and the graphic analysis on D1 agree;   

- Cryptocurrencies. Negative sentiment in this market is constantly fueled by negative publications in the media. Thus, Nobel laureate Paul Krugman has predicted in his article in the New York Times, a complete collapse for the entire cryptocurrency market. The reason is the high cost of transactions with virtual money, which makes it unprofitable to use it in trading operations. According to Bloomberg, the volume of commercial operations with bitcoin around the world in May fell to a meager amount of $60 million.
Another publication, in the Wall Street Journal, confirms the version that the volatility of cryptocurrencies is not subject to any economic justification. For example, their rate is influenced by the actions of organized groups of "gray traders" that are created in social networks, such as Telegram. According to the WSJ version, 175 cases of such market manipulation were registered in half a year, when a sharp jump up of the cryptocurrency is followed by a sharp collapse. This manipulation has been called "Pump and Dump".
As for the near future of the pair BTC/USD, it is possible that it may linger in the $5.760-6.800 zone for some time. This is expected, of course, if the week does not bring any important news - either real, or "inflated" according to the " Pump and Dump" scheme. It is important to note that the level of 5.760 is the support that the pair could not overcome from the very beginning of its fall on December 17, 2017.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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August 19, 2018, 12:46:26 PM
 #14

Forex Forecast and Cryptocurrencies Forecast for August 20-24, 2018


First, a review of last week’s forecast:
 
- EUR/USD. Most analysts (60%), supported by graphical analysis and indicators, expected the pair to fall to the 1.1120-1.1300 zone. And indeed, the pair reached the level of 1.1300 on Wednesday August 15, but did not go lower, turned around and returned to zone 1.1400 by the end of the week .Analysts call the stabilization of the situation with the Turkish lira as one of the main reasons for the trend change, although they do not rule out that the lull is temporary, and soon the storm will come again;
 
- GBP/USD. 45% of experts, supported by 20% of the oscillators, who signaled that this pair is oversold, were expecting a correction, which occurred earlier this week: on Tuesday the pair rose to the level of 1.2825. However, the main forecast was that the downward trend will continue. Problems with Brexit have not gone away, so most analysts agreed that the pair would reach the zone 1.2675-1.2720 in its fall last week. Taking into account the standard backlash, this forecast also proved to be absolutely correct: the pair found the local bottom at 1.2660, and completed the five-day session at the mark 1.2745;
 
- USD/JPY. The expansion of the trade war between the United States and China continues to play into the hands of the Japanese yen as a safe haven. There was a hint for breakdown of the lower boundary of the medium-term rising channel of the pair in the first half of August, which began at the end of March this year. At that time, it was still too early to consider this as a real breakthrough, but almost 70% of the experts voted that the strengthening of the yen would continue, and the pair would drop at least to the horizon 110.30. This forecast was accurate as well: the minimum value of the week was fixed at 110.10, and the final chord sounded in the zone of 110.50;
 
- Cryptocurrencies. News from the bitcoin battlefields can be considered positive: the pair BTC/USD could not break the level of 5.760 and, as we predicted, it stayed in the corridor of $5.760-6.800. And this was despite a powerful correction, as a result of which the crypto market capitalization dropped to $189 billion at the beginning of the week. The main reason for this BTC "stability" is that mining becomes almost unprofitable below the $6,000-6,100 zone, and most miners are working on the recoupment verge right now. That is why the level of 5.760 is the support that the pair could not overcome from the very beginning of its fall on December 17, 2017.
Litecoin (LTH), ripple (XRP) and many other top coins have regained their positions after a fall in the middle of the week. The second largest crypto-currency, Ethereum (ETH), has gone up, but it is much more difficult to do it for Ethereum than for its "colleagues". Its own popularity played against the Ethereum. According to the Invest in Blockchain study, 60 of the 100 largest crypto-currencies are not based on a working product, not mentioning smaller tokens. And, recall, most ICOs were held basing on ETH, and now few successful projects are rushing to cash their Ethereum, fearing further decline of the market.

 
As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
 
- EUR/USD. The main factors determining the movement of dollar pairs in the coming week will be the next stage of negotiations between the US and China, as well as the Federal Reserve head Jerome Powell's speech at the economic symposium in Jackson Hole.
The investors do not pin hopes on the US-China talks. But they expect some clarity from Powell regarding the policy of quantitative tightening and raising interest rates. According to a number of economists, if instability in world markets continues, it could lead to a crisis in emerging markets, and that, in turn, will lead to a new global financial crisis. And the current problems of Turkey are just the first sign.
In the meantime, the experts' opinions are divided as follows: 55% of them, supported by graphical analysis and oscillators on D1, are for the further fall of the pair, 45% along with graphical analysis and oscillators for H4, are for its growth. In this case, it should be taken into account that on H4, it is already 10% of the oscillators that signal the pair is overbought.
The nearest target for the bulls is 1.1525, the following targets are 1.1575 and 1.1630. The bear target is the zone 1.1270-1.1300, then a support follows at 1.1165;
 
- GBP/USD. It seems that even the impressive volume of retail sales cannot assist the British pound: fears about the tough scenario Brexit outweigh everything. Most analysts (60%) predict further strengthening of the dollar and decline of the pair first to the level of 1.2660, and then on to zone 1.2600.
An alternative point of view is expressed by 40% of experts who expect a correction and a return of the pair to the upper boundary of the medium-term downtrend channel, 1.3010. Intermediate resistance levels are 1.2825, 1.2910 and 1.2950. It is important to note that when we move from a weekly forecast to a monthly one, the number of bulls' supporters among experts increases from 40% to 65%;
 
 
- USD/JPY. Despite the fact that it is already 15% of the oscillators that signal the pair is oversold, the overwhelming majority of experts believe that the global trends, or rather, the economic wars unleashed by US President Trump, will determine the trends in this case. They are expecting continued mutual reproaches and threats to introduce new import duties from the upcoming US-China talks, and therefore the demand for the yen as a safe haven will grow. 75% of analysts expect the pair to fall into the 109.00 zone, and only 25% voted for its return to the levels of 111.00-112.00. The next target is the height of 113.15.
If we talk about the medium-term forecast, 65% of experts are confident that the pair will not be able to overcome the very strong support of 2017-18. in the 108.00 zone in its fall and will eventually return to the upper boundary of the two-year horizontal channel 114.45; 
 
- Cryptocurrencies. Negative sentiment continues to dominate this market, severely limiting the new investment flow. However, the growth of capitalization in the second half of the previous week higher than the $204 billion mark is a good signal: traders continue to buy bitcoin and altcoins in times of recessions. Nevertheless, you cannot call such trades long-term investments. Rather, it is intraday and intraweek trade, when traders quickly close their bullish positions. That's why it will be difficult enough for bitcoin to rise above the resistance of $6,830. Any significant positive news may serve as the driver in this case, thanks to which the pair BTC/USD will be able to move to the level of $6,850-7,150.
The breakdown of the support of $5.760 will, most likely, be a very strong signal for the mass sale of cryptocurrencies. Although, according to experts, such a scenario is unlikely in the near future for the reasons described in the first part.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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August 26, 2018, 08:45:45 AM
 #15

Forex Forecast and Cryptocurrencies Forecast for August 27-31, 2018


First, a review of last week’s forecast:
 
First, a review of last week’s events:
 
- EUR/USD. As expected, the US-China talks did not bring clarity: the only information came from the PRC Ministry of Commerce, which reported that the talks were frank and useful. Such a wording can be considered as the absence of specific results. Speech by Fed Chairman Jerome Powell was not revolutionary either and dropped the dollar by just 30 points.
In general, over the week, the euro rose by almost 200 points, which, in the first place, was caused by serious problems around the US president and his surrounding, which could turn into prison terms for his assistants and the criminal prosecution of Trump himself. The US decision to postpone the question of raising duties on cars from the EU played in favor of the euro as well. As a result, the pair completed the week session where 45% of experts had expected - at 1.1622, close to resistance 1.1630;
 
- GBP/USD. Following the euro, the British pound grew against the dollar, reaching the middle of the medium-term downtrend, which began back in spring. The pair reached the marks of the beginning of August and met the end of the five-day period at 1.2845;   
 
- USD/JPY. Recall that 75% of analysts expected the pair to fall into the 109.00 zone, and 25% voted for its return to the levels of 111.00-112.00. The pair, according to the expectations of the majority, really went down and on Tuesday, August 21, it dropped to the level of 109.75. However, the drop ceased, and then the forecast of the remaining 25% of the experts was implemented: the pair rose to the area of 111.00-112.00, reaching the height of 111.50.The final chord sounded a little lower - at around 111.25;
 
- Cryptocurrencies. The main bad news of the week is that the US Securities and Exchange Commission (SEC) has rejected five more (nine in total) applications to launch Bitcoin -oriented investment funds (Bitcoin-ETF). The main reason for the rejection is the same - the problems of crypto-exchanges with fraud and price manipulation. The good news is that the SEC can still reconsider its decision. The bulls were also pleased with the news that the world's first blockchain-based bonds issued by Bank of Australia, are actively bought by investors.
As for the crypto market capitalization, it has grown slightly and amounted to just over $210 billion.
In this situation, the pair BTC/USD continued to move almost all the time in a rather narrow range of $6,230-6,65 0. As we assumed, it was difficult enough for bitcoin to gain a foothold above the resistance of $6,830. The attempt on August 22 failed: reaching $6,885, the pair quickly turned around and returned to the weekly range. The next attempt occurred on Friday night, when the thin market becomes even thinner.
The breakdown of support $6,230 is hampered by the fact that it is already now that most miners are working on the verge of payback. And if there is a fall below the $6,000-6,100 zone, mining becomes almost unprofitable.
Litecoin (LTH), ripple (XRP) and many other top coins, have followed the bitcoin into a flat state. But the Ethereum (ETH) has once again demonstrated negative dynamics, having lost about 15% during the week.

 
As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
 
- EUR/USD. No results in the US-China talks, possible impeachment of President Trump. One can also add the attacks of the US president towards the head of the Federal Reserve. The latter fell out of favor with Trump because of an excessively tight financial policy and an increase in lending rates. All this still creates uncertainty in the market, as a result of which the opinions of experts are divided as follows:
- 45% of them, supported by most oscillators and graphical analysis for H4, are in favor of further weakening of the dollar and the pair's transition to the zone 1.1630 -1.1750. The next resistance is 1.1840;
- 30% of analysts still believe in the dollar and are waiting for the pair to return to the mid-August low. The nearest support is 1.1430, the target is 1.1300. Graphical analysis on D1 and 15% of oscillators, signaling that the American currency is overbought, side with these analysts;
- and, finally, the remaining 25% of experts simply could not make a decision in this situation.
If we move to longer-term forecasts, more than 60% of experts give preference to the dollar. Thus, for example, while the EU is deciding whether to continue or not stimulating monetary policy, JP Morgan analysts forecast the euro/dollar rate at the level of 1.1000-1.1200 by the end of the year. The reasons are the same: Brexit, Italy and Turkey, along with other countries on the perimeter of the European Union. However, JP Morgan analysts do not exclude the rise of the European currency to the level of 1.1900 afterwards, but this will not happen until spring 2019;
 
- GBP/USD. According to the graphical analysis, the future of this pair looks as follows: first growth to the upper boundary of the descending channel (zone 1.3000-1.3080), then rebound and fall first to support 1.2660, and then even lower, to the level of 1.2585. As for the indicators, there is a complete confusion among them. Some signal that the pair is overbought, some say it is oversold, some are painted red, others are green or neutral gray. A similar confusion can be seen among the experts as well. However, when we look at forecasts for autumn, the picture becomes more clear - here it is already more than 65% of analysts who talk about the growth of the pair. The targets, however, are still rather vague - from 1.3100 to 1.3500;
 
- USD/JPY. The yen continues to be pressured by low inflation, which speaks of weak demand and hinders the GDP growth. The head of the Central Bank of Japan Haruhiko Kuroda has once even promised to commit hara-kiri if inflation does not reach the target of 2%. But the price increase is still extremely weak and has not even reached 1%. However, let's hope that Mr. Kuroda will not rush to fulfill his deadly promises.
Meanwhile, the regulator continues the stimulating policy of negative rates and large-scale buying up of assets. Against this background, even despite the US-China trade wars and other US problems, the dollar may continue its growth. At least that's what 65% of experts think, indicating 112.00, 113.50 and 114.70 as targets.
An alternative point of view is represented by 35% of analysts, graphical analysis on D1 and 20% of oscillators giving signals that the pair is overbought. If this bearish scenario gets a continuation, the pair is expected to go down to the area of 109.75-110.10. The nearest support is 110.75;

- Cryptocurrencies. Both bitcoin and major altcoins are close to their lows, and the crisis of confidence in the sector and the lack of positive news impedes the development of a strong bullish impulse. Although, as we noted earlier, such news most often does not entail any serious economic consequences and are only a reason for the next speculation.
The targets for the BTC/USD are the same. The target for the bulls is taking the height of $6,850, and then $7,760, for the bears it is to break the support of $6,230, then $6,000 and to go down to a low of $5,760. A fall below this mark may become a strong signal for a massive sell-off of cryptocurrencies and lead to a complete market collapse. And this is against the interests of all its participants, even those who are currently playing on the decline. Therefore, if the breakdown occurs, it is likely to be short-lived, and the pair will again return to the zone above $6,000. Although some analysts predict a drop to the level of $4,700.
And now, here is news for super-optimists and long-term investors, who are prepared to keep bitcoin until complete victory. The Telegram Channel What's on Crypto noted that after each halving of the mining award, the bitcoin price increased by dozen times. At the first reduction of fees on November 28, 2012, the pair BTC/USD traded at $12.With the second reduction on July 9, 2016, the rate was about $657. The third decline (from 12.5 BTC to 6.25 per block) should occur in the middle of 2020 and, if the forecast goes right, by 2023 the rate of this cryptocurrency can reach $10 million per coin. Whether it is true or not, we will learn "soon" - it's "only" about five years to wait.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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September 02, 2018, 08:27:18 AM
 #16

Forex Forecast and Cryptocurrencies Forecast for September 03-07, 2018


First, a review of last week’s forecast:
 
- EUR/USD. As expected, the week was full of multidirectional economic news, which caused first growth, and then the fall of this pair. Recall that 45% of experts, relying on the problems in the US-Chinese negotiations and the contradictions between the US president and the head of the Fed, predicted a further weakening of the dollar and the growth of the pair to the height of 1.1750. As a result, the pair reached the high at 1.1735.
Weak statistics from the eurozone supported those 35% of analysts who had talked about strengthening the dollar. As a result, those 25% of experts proved to be completely right, who could not decide on the direction of the main trend, because, after the week's fluctuations, the pair eventually returned to the values of a week ago and completed the five-day period at 1.1600.
If we look at the charts D1 and W1, it is clear that after the August peak and fall to 1.1300 the pair has once again entered the side channel 1.1575-1.1750, where it moved all mid-summer;
 
- GBP/USD. Problems related to Brexit continue to scare off foreign investors. The data published on Thursday August 30 indicate that they continue to actively get rid of British assets. The sale off of government bonds has reached its peak since 1982. - £ 17.2 billion. Despite this, the pound managed not only to hold positions, but even to win back about 200 points against the dollar after the EU negotiator Michel Barnier announced on Wednesday that he was ready to make the Brits a unique trade proposal. However, Mr. Barnier played back a little later, saying that he did not rule out the hard version of Brexit, as a result of which the pair met the end of the week session at the level of 1.2960;
 
- USD/JPY. Recall that most experts (65%) predicted the growth of the pair, indicating a target level of 112.00. The fact that the pair is overbought which was signaled by 20% of the oscillators, could limit this growth and turn the trend around. The level 110.75 was called as the nearest support.
In reality, the pair rose to the height of 111.82, and then fell to the horizon of 110.70, so these goals can be considered fairly accurate. The final chord was set in the zone 111.10, which can be considered Pivot Point of the last six weeks;
 
- Cryptocurrencies. The crypto market has successfully survived the information that the US Securities and Exchange Commission (SEC) rejected another batch of applications for the launch of bitcoin-funded investment funds (bitcoin-ETF). There was more optimism thanks to the hope for the revision of these applications, as well as the information that Yahoo Finance has acquired an opportunity to carry out trade operations with bitcoin, Litecoin and Ethereum.
The experts called the taking of the height of $ 6,850, and then $ 7,760 as bulls' targets for the pair BTC/USD. Backed by the positive news, the pair easily broke through the resistance of $6,850, but the strength of the bulls dried up at the height of $7,130 and it returned to the resistance zone, turning it into a support zone. However, the pair was able to rise again above $7,000 by the end of the week.
As for the major altcoins, their graphs repeated the dynamics of the main crypto currency, but it was only Litecoin (LTH) that managed to fix a small growth, adding about 9%. But Ethereum (ETH) and Ripple (XRP), after growing in the middle of the week, returned to their original values.

 
As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
 
- EUR/USD. The main trends for the upcoming week can be defined as follows: the small growth of the pair in its first half and the fall towards the end of the five-day period.
15% of oscillators on H4 indicate the pair is oversold. In addition, the market expects negative data on business activity in the US on Tuesday, September 04, which may weaken the dollar and allow the pair to rise to the 1.1700-1.1750 zone. The next resistance is at 1.1800.
However, most experts (60%) expect the dollar to strengthen. This should be facilitated by the release of a series of data on the labor market, including data from ADP on Thursday and NFP indicators on Friday, which are expected to become a strong support for the dollar and may bring the pair closer to the mid-August low in zone 1.1300. The nearest support is in the zone 1.1500-1.1525. The graphical analysis on H4 and D1 also agrees with this development.
It should be noted that in the medium term, the positive dynamics of GDP growth and a strong labor market are quite powerful factors for tightening the monetary policy of the Fed and, as a consequence, of the further strengthening of the US currency;
 
- GBP/USD. Most analysts (60%) are looking north. They remember both the unique proposal of Michel Barnier and the fact that the index of business activity in the service sector of Great Britain can show a significant increase in August, from 53.5 to 54.7, which will become a serious bullish stimulus for the sterling. As a result, the correction may continue, and the pair will rise to the zone 1.3140-1.3170. More than 80% of oscillators on D1 are painted green as well.
An alternative view is expressed by graphical analysis on D1 and 40% of experts, who are confident that Brexit problems will outweigh any positive economic data. This is the reason that the pair will soon return to the downtrend. The nearest support in the zone 1.2800, the main target is 1.2660;
 
- USD/JPY. Graphical analysis on D1 draws a motion in the lateral channel with a rather narrow range 110.00-111.4 5. More than 55% of experts and oscillators agree with this scenario, the oscillators are approximately equally colored in green, red and neutral gray colors. The reasons for such a forecast are the same. They are on the one hand, low inflation, which hinders Japan's GDP growth, and the success of the US economy, as well as, on the other hand, the role of the yen as a safe haven in the US-China wars and scandals related to the election of US President Donald Trump.
In case the pair goes out of the above corridor, the following support is located at 109.30 and 108.65, and the resistance is 112.15 and 113.15;
 
- Cryptocurrencies. The bearish targets for the BTC/USD pair are still the same: the breakdown of support $6,230, then $6,000 and a descent to a low of $5,760. However, if nothing extraordinary happens, the decline below the mining profitability level in the $6,000-6,230 zone seems almost impossible now.
From the point of view of most experts, the growth of the pair is more likely to reach $7.760, then correction, and a new jump upwards, now to the high of July 25, $8.500.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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September 09, 2018, 11:22:34 AM
 #17

Forex Forecast and Cryptocurrencies Forecast for September 10-14, 2018


First, a review of last week’s forecast:
 
- EUR/USD. As for the trends and their changes, the forecast given last week turned out to be absolutely accurate: starting from Tuesday, September 6, we saw the weakening of the dollar and the pair's growth, and the strengthening of the dollar and the fall of the pair at the end of the week, thanks to the positive data on the labor market in the US. As for the volatility, even despite the end of the summer, it was significantly lower than expected: the maximum range of fluctuations was only 130 points. The market reacted sluggishly even to the growth of NFP (Non-farm Payrolls) by 36.7% (from 147K to 201K), and as a result, the pair completed the five-day period at 1.1552, improving the dollar position by only 50 points;
 
- GBP/USD. Unlike the euro, the volatility of the pound, due to new statements by European officials on Brexit, is only growing, and amounted to over 240 points last week. The last jump of the pound was caused by the EU negotiator Michel Barnier's statements regarding the situation with the border between Great Britain and Ireland. As a result, as most analysts (60%) had assumed, the pair went north, reaching the level of 1.3025 by mid-Friday. However, later, driven by the news on the US labor market, the dollar played back 110 points, as a result of which the pair, similar to EUR/USD, returned to the values of the start of the week, having stopped at the level of 1.2915;
 
- USD/JPY. The forecast, which had been supported by more than 55% of experts, oscillators and graphical analysis on D1, suggested the movement of the pair in the side channel with a rather narrow range of 110.00-111.45. This scenario turned out to be quite accurate, with a certain tolerance: the pair stayed within 110.37-111.75, returning to the central zone of the corridor at the end of the week and finishing at 111.00;
 
- Cryptocurrencies. The forecast for BTC/USD had assumed first the growth of the pair to $7,760 (in reality, the pair rose to $7,400), and then a correction and a decline, but not below the level of mining profitability in the zone $6,000-6,230. In reality, the price of bitcoin fell to the support of 6.300, having lost about 15% in 16 hours. The situation with Ethereum is even sadder for the bulls: the pair ETH/USD has lost almost 30%, having fallen from the mark of 302.1 to 211.6. The price of Litecoin (LTH) has fallen by 22%, that of the Ripple (XRP) - by 20%.
There are two possible reasons for this: 1) the decision of ShapeShift crypto platform to enter the users' registration and to start collecting their personal data, and 2) the news (which later turned out to be a fake) that Goldman Sachs will not create a special unit for trading cryptocurrencies.
In fact, neither of these two pieces of news had any meaningful significance for the crypto market, these are just private solutions of private companies. But, as it has been said many times before, suffice the big players to wish to collapse the market, and they will always find an excuse for this.

 
As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
 
- EUR/USD. From the point of view of fundamental analysis, the most important events await us on Thursday, September 13. The ECB's interest rate decision and the ECB's press conference are expected on that date. As for the interest rate, there are no surprises expected here. But as for the press conference, some information on the timing of the tightening of monetary policy in the Eurozone may sound, although this is unlikely to happen in the nearest future. This though cannot be said about the decisions of the US Federal Reserve.
On the same Thursday, the data on the US inflation will be published, the high rates of which have become a serious signal for raising the interest rate by the Fed. The market is almost 100% confident that this will happen in September. Traders and experts are waiting for an answer to the question whether there will be another increase in December.
Basing on these expectations, most analysts (60%) vote for the growth of the dollar and a fall of the pair. Graphical analysis on D1 and about 85% of oscillators and trend indicators agree with them. The nearest support is 1.1530 and 1.1400, the targets for the end of September - the beginning of October are 1.1300 and 1.1125.
The remaining 40% of experts believe that the correction of the pair is not over yet, and therefore it can move in the side channel 1.1530-1.1745 for a while. Graphical analysis on H4 and 15% of oscillators that signal the pair is oversold, agree with this;

- GBP/USD. Macroeconomic data from the UK will be released on Monday (GDP), and on Tuesday (pay), and again on Thursday, when the Bank of England will announce its decision on the interest rate. The rate is most likely to remain at the level of 0.75%, so it is not the rate itself that is of interest, but the number of votes given for its rise. And, traditionally, the market will closely follow the news about Britain's "divorce" from the European Union.
In this situation, the readings of trend indicators, as well as the opinions of experts, are divided in two equal parts. Oscillators do not give clear signals either: about 50% of them are painted in a neutral color, 25% are green, 25% are red.
As for the graphical analysis, it shows the further growth of the dollar and the decline of the pair first into the zone 1.2785-1.2800, and then even lower, to the level of 1.2660, on D1. As for H4, graphical analysis does not exclude that, before going south, the pair will move along Pivot Point 1.2935 in the horizontal channel 1.3035-1.3040 for several days;
 
- USD/JPY. The financial community paid attention to the article of James Freeman in the Wall Street Journal, which said, if briefly, that Japan will soon become a new target in the trade wars of Donald Trump. At such, Freeman refers to a personal telephone conversation with the US President.
So, Japan is on the brink of war, which it tried to avoid. If you add to this the increase in sales tax planned for the next year and dependence on the Iranian oil, the preponderance of forces is on the side of the Americans. The growth of wages and expenditures of households, leading inflation to the coveted bar in 2%, side with the Japanese.
So far, the experts' votes have been divided as follows: 55% are for the fall of the pair, 45% are for its growth. The indicators do not give any clear picture, and the graphical analysis on H4 draws the pair's oscillations within 110.30-111.80. When switching to the time frame D1, the oscillation range expands to 109.80-112.15;
 
- Cryptocurrencies. Most likely, bears will not stop there, and the pair BTC/USD will still try to break through the level of $6,000 and get close to this year's low in the $5.760 zone. Although it is possible that it will take a breather for some time, moving to the east in the corridor of $6,230-6,640. The next resistance is in the zone $6,895-6,985.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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September 16, 2018, 11:15:32 AM
 #18

Forex Forecast and Cryptocurrencies Forecast for September 17-21, 2018


First, a review of last week’s forecast:
 
- EUR/USD. The dollar was under pressure for all five days, the difference between the weekly high and the low was about 200 points. Nothing special was said at the press conference following the ECB meeting, the plan to tighten the Eurozone monetary policy remained unchanged. Therefore, the main reasons for the US currency fall can be named as deflation in the US, called by the experts "the Fed's nightmare", and the decision of the Turkish regulator to increase the interest rate by as much as 625 points. This resulted in the Turkish lira going up and pulling up not only the currencies of developing countries, but also the euro.
Experts had pointed to the upper boundary of the medium-term side channel 1.1530-1.1745 as a ceiling for the EUR/USD growth last week. And this forecast turned out to be absolutely correct: the maximum was fixed at 1.1725, and the end of the five-day period was met by the pair at the level of 1.1622;
 
- GBP/USD. In general, the weekly chart of this pair is very similar to that of the EUR/USD. On Friday, September 14, the British pound rose to 1.3147, reaching a six-week high. The head of the Bank of England Mark Carney helped his currency. In his view, the lack of an agreement on Brexit will cause a crisis that will lead to a fall in the pound, which will result in a higher inflation, which, in turn, may force the British regulator to raise the interest rate. As for the last week, the final chord here sounded at around 1.3065;
 
- USD/JPY. The forecast, which had been given by graphical analysis on D1, had provided for the pair to grow to a height of 112.15. It was this height that the pair reached at the end of the week. It is interesting to note that while the dollar fell against many other currencies, it was actively growing against the Japanese yen. The reason for this is most likely the expectation of the start of a trade war with the United States to start and the strong dependence of Japan on the Iranian oil. As a result, the pair's growth was about 100 points in five days;
 
- Cryptocurrencies. As was expected, at the beginning of the week the bears tried to break through the $6,000 level, but they have not succeeded to drop bitcoin below the mining profitability zone. When approaching this level, coins are bought out, and the pair BTC/USD goes up again. However, neither the forces nor the reasons for its revolutionary growth are yet sufficient. As a result, a fairly quiet scenario was implemented last week, and the pair stayed within 6,120-6,590.
As for Ethereum (ETH/USD), Litecoin (LTH/USD) and Ripple (XRP/USD), the movement of these pairs can also be considered a side movement: after the mid-week fall, they were able to almost restore their positions by the end of the five-day period.

 
As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
 
- EUR/USD. From the point of view of fundamental analysis, no particularly important events are expected in the coming week. It is unlikely to expect surprises from European statistics on Monday and the speech of the ECB head M. Draghi on Tuesday. Most of the oscillators (60%) are painted in neutral grey, among the remaining, "green" has a certain advantage, 30%, the share of "red" is only 10%. "Bullish" sentiments prevail among the experts: 55% of them vote for the further growth of the pair and its transition to the zone 1.1745-1.1845.
Graphical analysis on H4 believes that the pair will remain in the corridor 1.1525-1.1745 with Pivot Point in zone 1.1630. But on D1, it does not exclude the fall of the pair to the August lows in zone 1.1300;
 
- GBP/USD. 60% of experts, inspired by Mark Carney and supported by the overwhelming majority of oscillators, trend indicators, as well as graphical analysis on H4, believe that the pair will continue its growth to the zone of 1.3210-1.3315.
20% of analysts have taken a neutral position, and another 20% are confident that the dollar will recover its positions and the pair will go down to supports 1.2955 and 1.2800. The final target is at the low of August 15 at the level of 1.2660. This scenario is supported by 10% of oscillators giving signals that the pair is overbought. As for the graphical analysis on D1, it specifies that the pair can grow to resistance 1.3210 before going south;

- USD/JPY. The formation of trends can be influenced by the Bank of Japan meeting on Wednesday, September 19 and the decision on the interest rate, which is now negative and is -0.1%. Undoubtedly, a lot will depend on the situation with trade relations between the US and China, as well as President Trump's desire to open another front of the trade war, this time with Japan. It is these factors that will determine the market's opinion on whether it is worth considering the yen as a safe haven.
At the moment, 50% of analysts vote for the return of the pair first to zone 111.00, and then to the support of 110.35, 15% of the oscillators agree with this, signaling the pair is overbought.
An alternative scenario, the growth of the pair to a height of 113.20, is supported by 35% of experts, 85% of oscillators and 100% of trend indicators on H4 and D1. 15% of the analysts surveyed could not determine the opinion; 
 
- Cryptocurrencies. The stay of the BTC/USD in the corridor between $6,000 and $7,000 indicates that the market is now dominated by short-term speculators. Major long-term players have taken a wait-and-see position, while keeping a strong interest in cryptocurrencies. But it is only them who can initiate a new rally and a massive influx of funds to this market. Meanwhile, the total capitalization fluctuates around the figure of $200 billion, updating local lows repeatedly. Thus, on September 12, the next one was touched, at the level of $186 billion, after which the market returned to $200 billion. It is not excluded that we will see another attempt of the bears to break support at $6,000 next week. However, if bitcoin manages to gain a foothold above the horizon 6,620, the pair has many chances to return to the high of September 5 at the height of 7.410.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

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September 17, 2018, 09:28:15 AM
 #19

Broker NordFX Launches Exchange Crypto Trading based on MetaTrader-5


The international broker company NordFX, in addition to MT4, launched exchange trading in cryptocurrencies based on the MetaTrader-5 platform, early September. This platform, as well as the Crypto account, is intended only for operations with cryptocurrencies, where all clients carry out transactions not with a broker or an exchange, but exclusively with each other. At the same time, the system is completely transparent: thanks to the depth of the market, each limit order is visible to all trade participants.

As before, traders have an opportunity to profit not only from the growth, but also from the fall of cryptocurrencies. As for margin trading, its opportunities have become much wider. If it is $300 that you need to open a position of 1 bitcoin on MetaTrader-4 at the moment, it is just $100 that is enough on MetaTrader-5.


Unlike many crypto exchanges, in NordFX, traders can profit not only on trading, but also on maintaining exchange liquidity. Commission fees for the maker traders are negative. That is, they receive a remuneration of 0.02% of each transaction volume. As for the commission fee charged to the taker traders, it is the lowest in the market and is only 0.09%.
 
Thanks to the presence of two platforms, MT4 and MT5, traders can apply a wide variety of trading strategies using dozens and hundreds of indicators. There are no restrictions on the use of expert advisers either. And thanks to the low commission and the rapid execution of orders, it has become possible to profit from the slightest market fluctuations.
 
In total, there are 14 main crypto pairs, cross pairs and 4 crypto-indexes available for trading 24/7/365 without holidays and holidays at the moment. The Crypto account is intended exclusively for exchange crypto trading. For traditional trading, you can use the MT4 platform, where you can also trade major fiat currencies (33 currency pairs), gold and silver, using a leverage of up to 1:1000.

The Crypto trading account for MT5 can be nominated in both US dollars and in bitcoins or Ethereums. Accordingly, depositing and withdrawal to wallets are also possible in USD, BTC and ETH. To get more information about this account and the terms of trading on the MetaTrader-5, please visit the NordFX website at https://nordfx.com/trading_account_crypto.html .

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The NordFX computer system has a high degree of protection: there has not been a single case of its hacking during 10 years of its work in financial markets. The company has been honoured with more than 35 professional prizes and awards, among them Most Reliable Broker 2016 and 2017, Best Crypto Broker Asia 2017 and Best broker for Trading Cryptocurrencies 2018.
In total, starting from 2008, clients from more than 185 countries have opened over 1.250.000 accounts in NordFX.


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September 23, 2018, 10:15:16 AM
 #20

Forex Forecast and Cryptocurrencies Forecast for September 24-28, 2018


First, a review of last week’s forecast:
 
- EUR/USD. Recall that most experts (55%) had voted for the further growth of the pair and its transition to the zone 1.1745-1.1845. This forecast turned out to be 100% true, and the pair fixed the weekly high at 1.1802 on Friday morning, having risen by 180 points in five days.
The main reason for the dollar to weaken was the hope that China and the United States could avoid a full-scale trade war. The devastating victory of the Americans became less obvious, and investors turned their attention to more risky assets and started to get rid of the dollar mass. 
Another reason for the US currency fall was the delay in the deal between Canada and the US on the North American Free Trade Area (NAFTA). As for the upcoming interest rate raise on September 25-26, the market has already played this scenario long time ago. As a result, the dollar index fell to a two-month low. However, at the very end of Friday, the "buck" managed to win back a part of the losses, and the pair completed the week-long marathon at 1.1750; 
 
- GBP/USD. 60% of experts, supported by the overwhelming majority of oscillators, trend indicators, as well as graphical analysis on H4, felt that the pair would continue its growth to the area of 1.3210-1.3315. That was how it all happened: the week high was seen on Thursday at height 1.3296. In addition to the factors listed above, the pound growth was facilitated by positive retail sales statistics in the UK and some progress on the issue of the Irish border at the Brexit talks.
However, the pound's victory over the dollar turned out to be short-lived, and it was on Friday, that, having broken through the support of the two-week rising channel, the pair collapsed by more than 200 points, returning to the mark of the beginning of the week at 1.3075. The reason is still the same: the uncertainty for Brexit;
 
- USD/JPY. While the dollar was weakening against the euro and the pound, it continued to strengthen against the yen. Interest in risk-free assets this week was falling rapidly, and, in addition to the American currency, the Japanese currency was on this list as well. And the yen, having a negative interest rate of -0.1%, topped this rating of UNattractiveness for investors, ahead of the dollar. As a result, the yen lost about 50 points to the dollar, and the pair ended the week at 112.60;   
 
- Cryptocurrencies. As expected, the bitcoin stayed in the corridor between $6,000 and $7,000, compensating the drop in the first half of the week with a subsequent rise above $6,700. The end of the five-day week was to please the holders of almost all coins from the TOP-100, which moved into the green zone. But if the growth of the ethereum (ETH/USD) or the litecoin (LTH/USD) turned out to be rather weak, the ripple (XRP/USD) became the real star of the week, jumping up by almost 45%. The factors that contributed to its rise, include the hints of the Ripple management to launch a new product xRapid, the company's exit to the world's largest Asian money transfer market and the launch of its work in Africa.

 
As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
 
- EUR/USD. The coming week will be filled with a variety of events that can affect trends and exchange rates. As for dollar pairs, the most important of such events will be the Fed's decision on the interest rate. It goes without saying that the market has already prepared for its increase, but the volatility growth on Wednesday September 26 is still guaranteed. But if the rate remains unchanged by any chance, it will produce an explosion effect, and the dollar will collapse at a cosmic speed.
The final decision of the US Federal Reserve is still unknown. At the time of writing this forecast, the situation looks like this:
90% of the indicators, graphical analysis on H4 and D1, as well as 55% of experts vote for the growth of the pair. The nearest target is 1.1850, the next one is 100 points higher.
45% of analysts have given their votes for the strengthening of the dollar as well as 10% of oscillators that signal the pair is overbought. Supports are 1.1620 and 1.1530. The ultimate goal in the medium term is at the low of August at the level of 1.1300;
 
- GBP/USD. 55% of experts also vote for the growth of this pair, 30% are for its fall, and the remaining 15% have taken a neutral position. After a sharp fall on Friday September 21, the indications of trend indicators were divided almost in half, and 20% of the oscillators signal the pair is oversold.
As for the graphical analysis, it shows a possible fall of the pair to the level of 1.3000 on H4, and as for D1, the target of the week is the level of 1.2800, after which a rebound to 1.3020 may follow.
Resistance is at the levels of 1.3165, 1.3215 and 1.3300;

- USD/JPY. Theoretically, the formation of trends could be influenced by the Bank of Japan management meeting on Tuesday, September 25, but it is hardly worth waiting for any radical decisions from it.
Most analysts (60%) believe that the yen has already made too many concessions to the dollar, and now one should expect the correction of the pair down. Graphical analysis on H4 agrees with this as well as 10% of oscillators on D1, giving signals that the pair is overbought. Supports are at the levels of 111.70, 111.25 and 110.75.
An alternative scenario, the growth of the pair to the height of 113.20, is supported by 40% of experts, graphical analysis on D1 and 100% of trend indicators on H4 and D1. The following targets are 113.75 and 114.75;
 
- Cryptocurrencies. The crypto market desperately needs some positive news that can move it up. This can be the appearance of major institutional investors capable of pouring into it billions of dollars. However, some experts fear that such "whales" will very quickly supersede the small "fish" from the market, making the entire idea of decentralized finance doubtful. They name the launch of bitcoin futures last December, which laid the foundation for a massive collapse in the digital currencies rates, as an argument.
But the fears do not end there. For example, a meeting of Mt.Gox creditors is planned for September 26, where a chance to compensate the losses of former customers of this exchange by selling off reserves of 170 thousand BTC coins will be discussed. Nobody knows what can happen in this case. But it is enough to remember that in February-March this year, the bitcoin lost about 20% of the cost on the news of a similar sale. And if on September 30 the US regulator (SEC) rejects the application for the ETF launch, the rate of the model crypto currency may just as well collapse significantly below $5,000. The positive SEC decision (and even just a hint on it) could raise the pair BTC/USD above the $7,000-7,500 zone.


Roman Butko, NordFX


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #usdchf #forex #forex_example #signals #forex #cryptocurrencies #bitcoin

https://nordfx.com/
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