Analysis Topic: Currency Market Analysis
The analysis published under this topic are as follows.
Thursday, August 16, 2018
USD/CAD Approaching Crucial Break / Currencies / Canadian $
By: FXOpen
The daily chart of USD/CAD indicates a decent uptrend above 1.3000.
Key Points
- The US Dollar is in a major uptrend with a crucial support at 1.3000 against the Canadian Dollar.
- A significant contracting triangle is formed with resistance at 1.3150 on the daily chart of USD/CAD.
Wednesday, August 15, 2018
Impulse Moves in the Currencies / Currencies / Forex Trading
By: Rambus_Chartology
For the last several months or so I’ve been showing you that many of the important currencies that make up the US dollar have been breaking down from large 2 1/2 year trading ranges. If you want to know what the US dollar is going to do the first thing you need to do is look at the important currencies that make up the US dollar as the US dollar is just a derivative of those currencies. Most of the time a stock, or in this case the currencies that make up the US dollar are trading within a reversal pattern, consolidation pattern, or are in an impulse move. It’s that impulse move that you want to be aware of and the earlier the better.
Tonight I’m going to update most of the currencies we’ve been following over the last several months because I believe they’re in the process of beginning an important impulse leg down which can have a profound affect on the PM complex and commodities in general. These types of moves don’t come around all that often, but when you begin to see an important setup maturing it’s usually worth the risk to try and take advantage of what the market will give you and impulse moves are what I live for as an intermediate term trader.
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Thursday, August 09, 2018
NZD/USD Holding Important Supports / Currencies / Forex Trading
By: FXOpen
The weekly chart of NZD/USD suggests that the pair is trading in a bearish zone, but it is currently trading near important support levels.
Key Points
- NZD/USD is currently testing a key connecting support trend line at 0.6700 on the weekly chart.
- The pair could correct higher, but upsides are likely to be capped by 0.6850.
Thursday, August 09, 2018
Serious Bitcoin Price Decline / Currencies / Bitcoin
By: Mike_McAra
Bitcoin is depreciating. This might be just the turnaround you have been waiting for. But is there really enough weight behind the short-term action to pummel Bitcoin lower?
A startup backed by Starbucks, Microsoft and a couple of other companies is said to potentially pave the way for the Bitcoin ETF. In an article on CNN, we read:
Starbucks going all-in on cryptocurrency is "the biggest news of the year for bitcoin" — because it paves the way for a bitcoin ETF, according to BK Capital Management founder Brian Kelly.
Sunday, August 05, 2018
Iran's Rial Currency Is In A Death Spiral, Again / Currencies / Iran
By: Steve_H_Hanke
Iran’s rial plunged from 98,000 IRR/USD on Saturday to 112,000 IRR/USD on Sunday on Tehran’s Ferdowsi Street. That stunning 12.5% one-day plunge has pushed the rial into a classic death spiral. The last time the rial was in a grip of such a spiral was back in September 2012.
The chart below shows the downward roller coaster ride the rial has been on during the past six months, as well as this weekend’s free fall. As the chart indicates, the official IRR/USD rate is 44,030; whereas, the rate in the black market (read: free market) is 112,000. That widespread rate is now measured by a huge black-market premium of 154%. This means that those who are privileged and have access to the official exchange rate can turn handsome profits of 154% in the blink of an eye.
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Wednesday, August 01, 2018
USD/JPY and EUR/JPY Testing Significant Hurdles / Currencies / Forex Trading
By: FXOpen
The weekly chart of USD/JPY and EUR/JPY indicates that both pairs are facing important resistance levels and they remain at a risk of a bearish reaction.
Key Points
- The US Dollar is trading above the 110.00 support and the 50-week simple moving average.
- USD/JPY is facing two significant bearish trend lines with resistance near 113.00 on the weekly chart.
- EUR/JPY declined recently and settled below a key support at 131.60.
- The pair remains at a risk of more losses towards the 128.00 and 127.00 supports.
Saturday, July 28, 2018
The Key Partnerships Behind Game-Changer DasCoin / Currencies / BlockChain
By: Submissions
DasCoin, the currency of trust and the backbone of the Das ecosystem, has been actively seeking partners to consolidate its position in the cryptosphere. Its developers believe it is on the cusp of worldwide acceptance.Read full article... Read full article...
Friday, July 27, 2018
Trump Put to Lower US Dollar / Currencies / US Dollar
By: Axel_Merk
Has President Trump introduced a Trump Put by lashing out about rising interest rates and calling for a weaker dollar? The market reacted swiftly - and rationally - albeit not the way Trump had intended. Let me explain.
Trump suggests the U.S. is put at a “disadvantage” given that the European Central Bank and Bank of Japan continue their more expansionary monetary policies. Markets reacted by selling off the dollar versus major currencies. If that were all, you might shrug this off as disruptor-in-chief rattling the currency markets a bit. Maybe there isn’t much more to it. After all, speculators had been bidding up the greenback of late and, possibly, this was as good a catalyst as any to take some profits.1 But that’s not the end of it. First, Mr. Trump appears to favor a weaker dollar and may well provide more verbal intervention should the dollar resume its climb. In that sense, Mr. Trump has introduced Trump put. But why is it that a comment by the President moves currency markets? Partially, this may be because he has shown a willingness to use executive power to interfere with trade.
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Friday, July 27, 2018
British Pound Likely to Extend Declines – The Big Picture / Currencies / British Pound
By: Submissions
FXOpen writes: The weekly chart of GBP/USD indicates that pair broke key support levels. On the other hand, EUR/GBP may perhaps move higher in the medium term.
Key Points
- The British Pound started a major downward move from the 1.4375 swing high against the US Dollar.
- GBP/USD broke a key bullish trend line with support at 1.3720 on the weekly chart.
- EUR/GBP formed a short-term top near the 0.9300 level and declined.
- The pair is following a declining channel with resistance near 0.8930 on the weekly chart.
Thursday, July 26, 2018
Robust Crypto Exchanges Needed In The Wake Of Hacking Incidences / Currencies / BlockChain
By: Andrew_Cioffi
2018 has not been a great year for security in the crypto market. In fact, it has been one of the worst years for cryptocurrency holders. This year, huge successful hacking attempts have led to massive crypto losses. 2018 has seen the record of most losses increase and the year has not even ended. The successful attack on NEM led to the theft of tokens worth over $500 million. In total, over $1.7 billion USD have been lost to scams, hacks and other forms of theft. The obvious question being asked by users now is whether a decentralized system will ever be viable. Prospects for exploring the area of decentralized exchange platforms have also been explored. In 2018, the quest to mend security flaws in the crypto trading world is on.
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Thursday, July 26, 2018
British Pound, Canadian Dollar, Russian Ruble and Euro Show Massive Volatility / Rotation Setup / Currencies / Forex Trading
By: Chris_Vermeulen
Our research team has been watching the foreign currency markets with great interest. Recently, the strength of the US Dollar has put extended pressures on many foreign currencies. The recent crash of the Chinese Yuan has alerted many traders to the concerns that China could be edging over the precipice in terms of debt and credit market collapse.
As traders/investors, we need to understand how these currencies move, and future moves may drive the global equity markets to new highs or lows. Let’s take a brief look at how some of our proprietary indicators are set up on these Weekly charts.
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Tuesday, July 24, 2018
Has the USD Finally Topped? / Currencies / US Dollar
By: SurfCity
The USD has had a bullish run out of it’s Intermediate and Yearly Cycle Low (YCL) in early February but it is now deep in my timing band to start seeking out its next 5-6 Month Intermediate Cycle Low (ICL). While I don’t want to overplay the negative correlation between the USD and Gold the correlation has been quite strong for most of 2018. A major top in the USD here, should benefit Gold and the broader CRB here.
My first chart is a close up Daily showing Friday’s bearish reversal candle and close below the 10ma on day 9. A close below the 10ma usually always signal’s a move into a short term Trading or Daily Cycle Low (TCL/DCL) and should provide enough Time for the USD to test the 200ma near 92 on my Daily chart. Day 9 is the earliest top we have seen in a short term Trading or Daily Cycle but we now need further confirmation, including a close next week below the 10wma on the Weekly. Note that the 10wma has been very strong support since early April but Time is also becoming an Issue for the USD here.
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Thursday, July 19, 2018
Bitcoin Price Rallies to Upper Channel – What Next? / Currencies / Bitcoin
By: Chris_Vermeulen
Even we were concerned with Bitcoin briefly traded below $6k in late June. Yet, the recent upside price move was incredibly quick and the price of Bitcoin ran right up to our upper price channel. We believe this will become a new price peak over the next few days/weeks where the price of Bitcoin should continue to drop from these levels near $7500. We know there are many Bitcoin investors that want to hear us state that it should continue to push higher, but there are other factors at play here that may limit this movement.
The price channels that are currently constraining the price of Bitcoin originate back in February and March of 2018. The low and high price rotation within these months start the points of interest for our research team. From these points, we have continued to identify key price levels that appear to contain breakouts.
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Tuesday, July 17, 2018
Bitcoin Holders Are Today Learning Something Goldbugs Already Know / Currencies / Bitcoin
By: MoneyMetals
Precious metals investors have learned a difficult truth in recent years. The best way to control a market is to put Wall Street in charge of it.
Gold and silver futures were created in the 1970s with the admitted purpose of “increasing volatility” in the markets and discouraging the ownership of physical bullion. It is a lesson that participants in other markets would do well to learn – specifically the Bitcoin and cryptocurrency markets.
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Tuesday, July 17, 2018
Bitcoin Price Analysis – Bullish Golden Cross on the Hourly? / Currencies / Bitcoin
By: Submissions
John Lee Quigley writes: $6400 was acting as a significant resistance level for Bitcoin’s price, however, over the last hour, the price has managed to break to the upside and is currently trading above the $6500 level. The move up over the last hour was on significant volume showing there is some weight behind the move which contrasts heavily with last weeks price action when many were speculating a return to sub-$6000 levels.
Sunday, July 15, 2018
The US Dollar Crash of 2018 Has Begun / Currencies / US Dollar
By: Austin_Galt
Previous analysis updated – in previous analysis produced on the 21st June 2018, I called the high of the rally at 95.22. This was wrong. It traded marginally higher, 3 pips in fact, putting in a high of 95.25 on the 28th June. It now appears as if it is all systems go for the mini crash of 2018. This should, in my opinion, be confirmed next week with follow through to the downside.Read full article... Read full article...
Friday, July 13, 2018
Focus on the Greenback, Will USD Fall Below Euro 1.6? / Currencies / Forex Trading
By: Nadia_Simmons
Although last week’s decline took the USD Index under the late June’s lows, currency bulls didn’t break down with this deterioration and responded to their rivals fairly in previous days. Thanks to their determination, the greenback has wiped out most of the recent decline, which in combination with several other positive factors about which we wrote in today's Forex Trading Alert suggests that ...
Before, we analyze the current situation in our currency pairs, let’s examine the short-term picture of the USD Index.
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Friday, July 13, 2018
Bitcoin Picture Less Than Pretty / Currencies / Bitcoin
By: Mike_McAra
The move up seemed to be continuing and the first impression was that we were seeing a first period of appreciation in some time. But the operative word here is “seemed.” If we take a closer look at what the current environment really is, the picture is far less pretty.
Bitcoin has been around for close to a decade now. Yet we haven’t seen much in the way of research on the Bitcoin network and the principles governing it. Sure, there have been studies analyzing the system from an economic point of view, but their number has been low relative to other topics covered by economic research. In other words, Bitcoin hasn’t been researched that much by people from academia. Against such a backdrop, it is interesting to see new papers taking on the problem of incentives in the Bitcoin network. In an article on the MIT Technology Review website, we read:
Wednesday, July 11, 2018
The Value of Bitcoin / Currencies / Bitcoin
By: Submissions
In a world that is looking for alternative forms of currency due to heavy regulations and red tape installed in the current transaction systems of the economy, cryptocurrency is presented as a formidable option to traditional forms of currency. Cryptocurrency began as a craze for digital currency that is unbound by many laws and regulations. With cryptocurrency, few questions are asked when making or receiving payments which makes it very attractive.Read full article... Read full article...
Wednesday, July 11, 2018
How NOT to Become a Casualty in the War on Cash / Currencies / War on Cash
By: MoneyMetals
Lots of bullion investors wonder if the metal they hold might one day be needed for barter and trade. They bought gold and silver, at least in part, as a form of insurance. It just might come in handy in an extreme circumstance such as a currency crisis of the sort Venezuelans are grappling with right now.
However, a hyper-inflationary collapse in the dollar isn’t the only dire scenario to insure against.
It is now clear that the dollar, and the financial network it runs on, is a mechanism for controlling people who don’t toe the government line.
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