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Thread: EUR USD

  1. #611
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    BITCOIN MIGHT PLUNGE TO $5800 MARK, BUT IT’S NOT ENOUGH FOR WALL STREET
    Although analysts remain bullish on the BTC perspectives, currently they warn us to be cautious. The US Securities and Exchange Commission (SEC) will approve the Bitcoin ETF from the Chicago Stock Exchange (CBOE)
    The crypto market cap lost 20% in the last 2 weeks, falling from $300 bln to $250. The Bitcoin is trading now at around $7,000 comparing to $8,400 in the same period. Although analysts remain bullish on the BTC perspectives, currently they warn us to be cautious.
    In the short terms, technical analysis is still on the bears’ side. The RSI indicator has decreased in the recent days but it is still far from oversold levels. Moreover, the benchmark currency doesn’t have important levels of consolidation near current trading marks. It means that after a short pause Bitcoin could slide down to the nearest consolidation level close to $6200 mark, and even lower to $5800.
    The wide circle of investors needs more time to realize the new reality and to be confident of a new asset. The regulators need time to work out the rules. The institutional investors need lows to enter the market, and the large financial institutions need an infrastructure to bring the cryptocurrencies into the mainstream. And while everyone is waiting for a better time, cryptocurrencies can expect new lows, market clean-up, and increased volatility on the swings between optimism and
    ICE announced the cryptocurrency platform Bakkt in cooperation with Microsoft and Starbucks but the prospects did not provoke much positive impact. Such impressive brands, involved in one project that is aimed at adapting cryptocurrency to retail and pension funds, certainly reaffirm the desire of big firms to cover the crypto-sector.
    Jamie Dimon, CEO of JP Morgan, once again named the Bitcoin “scum” and stated that “he was not interested” in the Bitcoin. Goldman Sachs intends to offer customers “crypto-depositary”, although the official line of the Investment Strategy Group report declares insolvency of the current cryptocurrencies. It seems that Wall Street wants to see really “extreme lows.”
    Read more:http://www.xtreamacademy.com/cryptocurrency-news


  2. #612
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    GOLD PRICE FORECAST – GOLD GIVES UP INITIAL GAINS ON TUESDAY
    Gold markets roll over during trading on Tuesday as we hit a minor one hour downtrend line. The market looks likely to continue to test these lower levels, as compression becomes a big factor.
    Gold markets have continued to find selling pressure on rallies, and of course Tuesday was no different. The $1215 level is the beginning of the selling pressure during early New York trading, as the market gave back much of the gains from earlier in the day. I believe that the market is trying to tell us that it wants to test the $1200 level underneath, so I suspect that rallies will continue to be sold. Longer-term though, I think $1200 could tell the entire story.
    This being the case, I do like the idea of buying dips but I also like the idea of buying dips a little bit closer to 1200. As a shorter-term trader, I would be looking towards selling rallies that show signs of exhaustion, has there should be plenty of them. I believe that the next couple of weeks could be more compression, as we are heading into the quietest month of the year, as many of the world’s largest traders away at vacation. It’s very likely that we will see a lot of volatility, but in the end I suspect that the market is still focusing on $1200 more than anything else.
    Trade war talks have been surprisingly negative for the gold market, but this is probably a function of treasuries being bought more than anything else. Ultimately, we could get some good news, and that could turn things around. If we break down significantly below the $1200 level, that would be extraordinarily bearish for gold, perhaps opening up the door to $1140 next.
    Read more:http://www.xtreamacademy.com/forex-forecast





  3. #613
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    BITCOIN CASH, LITECOIN AND RIPPLE DAILY ANALYSIS – 09/08/18
    It’s been a relatively positive start to the day, with Bitcoin Cash bucking the trend early, though whether sentiment can shift remains to be seen.
    Bitcoin Cash Hits sub-$600Bitcoin Cash slumped by 10.27% on Wednesday, following Tuesday’s 4.92% slide, to end the day at $589.2, its first visit to sub-$600 levels since last November.
    Tuesday’ late in the day sell-off continued into the early hours of Wednesday, with Bitcoin Cash sliding through the day’s first major support level at $630.07 and second major support level at $603.13 to a late in the day intraday low and new swing lo $565, before a partial recovery in the final hours of the day.
    At the time of writing, Bitcoin Cash was down 1.26% to $581.4, with a start of a day move to a morning high $593.9, off the back of Wednesday’s late upward move, falling short of $600 levels and the day’s first major resistance level at $642.47.
    A pullback to a morning low $580.8 saw Bitcoin Cash steer clear of the first major support level at $550.47 in the early hours.
    For the day ahead, a move through to $600 levels would support a run at the first major support level at $642.47, though we can expect plenty of resistance at $600, with any relief rally likely to test investor resolve later in the day, a hold at $600 by the day end a positive outcome for the crypto bulls.
    Failure to break back through to $600 levels could see Bitcoin Cash pullback to Wednesday’s low to bring the day’s first major support level at $550 .47 into play, though for any more material sell-off, the news wires will need to be particularly unfriendly on the day.
    Read more:http://www.xtreamacademy.com/cryptocurrency-news





  4. #614
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    AUD/USD AND NZD/USD FUNDAMENTAL DAILY FORECAST – RBNZ CALLS FOR LOWER GROWTH UNTIL END OF YEAR
    The early weakness suggests investors were caught by surprise by the negative reaction from the RBNZ since May. Although economic growth had slowed since then, some economists don’t think that it will remain as soft over the rest of this year as the Reserve Bank expects. They base this assessment on strong economic data in June.
    The New Zealand and Australian Dollars are trading lower early Thursday with the Kiwi leading the way due to a dovish outlook from the Reserve Bank of New Zealand.
    At 0134 GMT, the NZD/USD is trading .6712, down 0.0036 or -0.54% and the AUD/USD is at .7431, down 0.0003 or -0.03%.
    The New Zealand Dollar is under pressure early Thursday after the Reserve Bank signaled it will leave the official cash rate (OCR) unchanged until at least 2020, as concerns around the economy build.
    The RBNZ left its benchmark interest rate unchanged as widely expected by economists and traders, however, it was the bank’s guidance calling for low rates for considerably longer than most forecasters were predicting, that is driving the Kiwi lower.
    “We expect to keep the OCR at this through 2019 and into 2020, lower than we projected in our May Statement,” Governor Adrian Orr said in the opening lines of the statement.
    “The direction of our next OCR move could be up or down.”
    Orr also commented that the economy was expected to pick up pace before the end of the year, but there were risks that this may not happen. In the Reserve Bank’s latest forecasts, the economy is expected to grow by about 2.8 percent over the coming year, 0.5 percentage points lower than it expected at its last major update in May.
    The RBNZ forecasts also call for lower growth in the next nine months before forecasting the economy will pick up in 2019.
    “Risks remain to our central forecast. The recent moderation in growth could last longer,” Orr said.
    “Low business confidence can affect employment and investment decisions. Conversely, there is a chance that inflation could increase faster if cost pressure can pass through into higher prices and impact inflation expectations.”
    Read more:http://www.xtreamacademy.com/forex-forecast





  5. #615
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    XTREAMFOREX DAILY NEWS

    AUD/USD FOREX TECHNICAL ANALYSIS – WEAKENS UNDER .7374, STRENGTHENS OVER .7392
    Based on yesterday’s close at .7374 and the early price action, the direction of the AUD/USD on Friday is likely to be determined by trader reaction to the short-term 50% level at .7392. Now that the AUD/USD has taken out the previous day’s low, a move back over the previous close at .7374 will put it in a position to post a reversal bottom. If this occurs then look for a potential rally into the series of 50% levels at .7392, .7397 and .7407.
    The Australian Dollar is trading lower early Friday after posting a steep sell-off the previous session. The selling pressure is being fueled by a dovish Reserve Bank of Australia quarterly Statement on Monetary Policy and weaker-than-expected economic growth projections.
    At 0339 GMT, the AUD/USD is trading .7373, down 0.0002 or -0.02%.
    Early Friday, the RBA confirmed it has downgraded its 2018 inflation forecast, after flagging the change in Tuesday’s rates decision. Its longer-term outlook for inflation was little-changed. The central bank now expects core inflationary pressure to remain low through the end of 2020.
    Daily Swing Chart Technical Analysis

    The price action was wicked on Thursday, with the AUD/USD attempting a breakout to the upside after taking out a pair of minor tops at .7440 and .7442. However, the rally failed to take out the main top at .7465 and selling pressure increased enough to form an outside move, lower close.
    Based on the early price action, the new main top is .7453, down from .7465. A trade through .7348 will change the main trend to down.
    The minor trend is also up, however, yesterday’s closing price reversal top helped shift momentum to the downside.
    The close under a series of retracement levels is also signaling a shift in momentum to the downside. They now form resistance levels at .7392, .7397, .7407 and .7420.
    Read more:http://www.xtreamacademy.com/forex-forecast


  6. #616
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    XTREAMFOREX DAILY NEWS

    BITCOIN ETFS: THREE REASONS WHY A POSITIVE SEC DECISION WOULD BE A GAME CHANGER FOR THE CRYPTO SPACE
    CBOE’S Bitcoin ETF application is strong and, if accepted, would bring peace of mind to a wide variety of institutional investors who have been interested in —but until now stayed away from — the crypto space.
    In late June, a major news item buzzed throughout the crypto world: the CBOE had filed an application with the SEC to open the world’s first Bitcoin Exchange Traded Fund (ETF). Largely enthusiastic comments began pouring into the SEC website, with many focusing both on the potential benefits of a Bitcoin ETF as well as the importance of adapting to a constantly evolving marketplace.
    While the SEC announced they will be postponing their decision until the end of September, I am very optimistic that the application will be accepted, especially given the agency’s earlier announcement that Bitcoin and ETFs are not securities, as well as its decision to ease rules surrounding low-risk ETFs. Like many in the cryptocurrency sector, I am very excited by the potential of Bitcoin ETFs on the horizon, as I truly believe it will be a game changer for the cryptocurrency space. Here are three reasons why.
    Bitcoin Price Could Dramatically Increase

    To understand how Bitcoin’s price could rise following the launch of a Bitcoin ETF, it’s helpful to look at the launch of a gold ETF as an example. In 2003, the price of gold dramatically increased following the launch of an ETF. “Since its launch, retail access to gold has skyrocketed as new investors more easily turn to the gold market as a portfolio diversifier and as a foundational asset…Today, the SDPR GoldShares ETF is one of the biggest ETFs in the market with over $35 billion under management,” JPMorgan said.
    Given the massive growth trajectory following the launch gold ETFs, many crypto enthusiasts, including myself, believe that the same positive correlation could exist between Bitcoin prices and the launch of Bitcoin ETFs. In fact, JPMorgan has referred to a Bitcoin-based ETF as the “holy grail” for investors.
    Furthermore, I believe that a Bitcoin ETF launch could drive a massive increase of institutional money to the crypto market. Between Goldman Sachs announcing the launch of its bitcoin trading platform, to JPMorgan launching a patent for blockchain-powered payments, we have already seen increased institutional adoption in the crypto space this year. However, I believe that a launch of a Bitcoin ETF would be precisely the initiative to catapult Bitcoin’s price — and the cryptocurrency space as a whole — to the next level.
    Read more:http://www.xtreamacademy.com/cryptocurrency-news


  7. #617
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    XTREAMFOREX DAILY NEWS

    CRYPTOCURRENCIES CRASH CONTINUES; BITCOIN’S BULLETPROOF BOTTOM AT $6000?
    The leading cryptocurrencies show a two-digits sell-off on Tuesday: Ethereum (ETH) has lost more than 17%, XRP fell by 14.5%, and Cardano (ADA) has plummeted more than any other major cryptocurrency by almost 20%. Bitcoin dropped 6% to trade near $6000.
    The cryptocurrency market has started the current week with an impressive decline. The total market cap fell by 12% to $ 192 billion a day, which is less than 25% of the peak market volume at the beginning of the year. The Bitcoin once again came to the threshold level at $6000 losing more than 6% in the past 24 hours.
    The leading altcoins show a two-digits sell-off: Ethereum (ETH) has lost more than 17%, XRP fell by 14.5%, Cardano (ADA) and IOTA (IOT) have plummeted more than any other major cryptocurrency by almost 20%.
    As we take a look at the BTC chart for this year, we can see that the cryptocurrency showed lower lows and lower highs until the BTC level reached the current mark somewhat below $6000, which seems a strong support level.
    $6000 mark could become the solid support with possible reverse
    From a technical analysis perspective, the situation looks ambiguous. The Bitcoin returned to the area of its lows where it received support in February, March-April, and June. Another rebound from this area could start a significant rally, having established as a bulletproof bottom.

    The RSI index also came out of the oversold levels, which often increases the chances for a rebound. Despite the weakness of the market, this scenario looks the most plausible at the moment.
    Alternatively, the drawdown lower than the previous levels near $5800 could give an impulse for a new sell-off wave. In this case, BTC would expect a decline to $3300 level due to a significant liquidation of long positions.
    Volatility in the traditional markets does not cause the demand for cryptocurrencies, as it was a year ago, despite the twofold increase in trade volumes on the Turkish exchanges. In general, the world becomes a witness of a massive diminishing of the interest in cryptocurrencies.
    Read more:http://www.xtreamacademy.com/cryptocurrency-news















  8. #618
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    BITCOIN – RECOVERS FROM SUB-$6,000 WOES, BUT MORE VOL TO COME
    Bitcoin’s on the move as the Bulls recover from the shock of hitting sub-$6,000 levels, though market volatility is unlikely to abate any time soon.Bitcoin fell by 0.99% on Tuesday, following on from Monday’s 0.99% fall, to end the day at $6,190.While the day’s loss was a relatively minor one, it was a particularly choppy day, with Bitcoin sliding through the first major support level at $6,071.57 and second major support level at $5,899.23 to an intraday low $5,858.6.Bitcoin managed to avoid striking a new swing lo, while the visit to sub-$6,000 levels was the first since a 29th June $5,780.In spite of the broad based market sell-off and negative sentiment lingering in the wake of the SEC postponement to decisions on the future of a number of Bitcoin ETFs, Bitcoin managed to fund support to recover back through to $6,000 levels in the late morning, with a broad based market rally seeing Bitcoin test $6,200 ahead of the day’s end.A start of a day $6,251.9 high left the day’s first major resistance level at $6,482.27 untested, with Bitcoin continuing to fall short of the 23.6% FIB Retracement Level of $6,757, leaving the extended bearish trend, formed at 5th May’s swing hi $9,999, intact.The sell-off seen in recent weeks that accelerated on Monday through Tuesday certainly had the feeling of a bubble bursting, with no real justification for an end to the slide other than speculative trading, with side lined investors likely to have been looking at valuations with the knowledge that the Bitcoin whales were unlikely to be jumping ship anytime soon.
    Read more:http://www.xtreamacademy.com/cryptocurrency-news

  9. #619
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    EUR/USD DAILY PRICE FORECAST – EUR/USD REBOUNDS POST HITTING 13-MONTH LOWS ON US-CHINA TRADE TALKS
    EUR/USD rebounds from 13-month lows as major global currencies including EURO got a bullish boost in Asian market hours on news of Sino-US Trade talks.
    Riskier assets and the EUR scored gains in Asian market hours due to the news that Chinese officials will be traveling to the United States for trade talks in late August. As of writing this article, the EURUSD pair is trading at 1.1384 up 0.33% on the day, after hitting 13 month Low at 1.13009 during yesterday’s trading session. A Reuters report released earlier today quoted China’s Ministry of Commerce as saying that a Chinese delegation led by Vice Minister of Commerce Wang Shouwen will hold talks with US representatives led by Under Secretary of Treasury for International Affairs David Malpass later this month. The announcement seems to have boosted risk assets. For instance, the AUD/USD is up 0.40 percent and the USD/JPY is reporting marginal gains despite the BOJ rate hike talk. As a result, the EUR turned higher in Asia and could extend gains further in the European and US session if the equities react positively to the news of US/China trade talks.
    News of Sino-US Talks Has Curbed Selling Activity Surrounding Chinese Yuan
    Trade war fears had morphed into an opportunity for speculators, who had been selling the Yuan and other currencies against the dollar. The news that pointed to a possible easing of U.S.-China trade tensions appears to have curbed such activity. But there is no guarantee that the trade discussions will end successfully. As such, the trade news may have stopped the speculators’ selling but perhaps only for the time being. The greenback had drawn strength after a tough week for emerging market currencies, initially led by the rout in the Turkish lira. The currency plunged to an all-time low at the start of the week as tensions between Ankara and Washington flared and worries over President Tayyip Erdogan’s economic policies increased. The lira has since recovered to 5.9725 per dollar after slumping to a record low of 7.24 on Monday.
    Read more:http://www.xtreamacademy.com/forex-forecast



  10. #620
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    THE BITCOIN BULLS EYE $6,700 LEVELS TO TAKE SUB-$6,000 OUT OF PLAY
    Bitcoin is on the move early and holding on to $6,300 levels would support a return to $6,600 levels later in the day, the markets settling.
    Bitcoin gained 1.11% on Wednesday, reversing Tuesday’s 0.99% loss, to end the day at $6,258.
    Tuesday’s late in the day upward moves continued into the early hours of Wednesday, with Bitcoin moving through the day’s first major resistance level at $6,341.73 to a morning high $6,483 before easing back.
    Holding on to $6,200 levels through the middle part of the day and avoiding another visit to sub-$6,000 levels to test the day’s first major support level at $5,948.43, supported a break back through the first major resistance level at $6,341.73 and a break through the second major resistance level at $6,493.47 to an intraday high $6,647.6.
    A late sell-off saw Bitcoin pullback to $6,200 levels by the day’s end, with investor fears of another sell-off seeing intraday gains locked in early, pinning back any major recovery as the market looks ahead to the SEC Bitcoin ETF decisions and the G20 rule and regs, which are the two key drivers for Bitcoin and the broader market near-term.
    For the Bitcoin bulls, holding on to $6,200 levels through the day was key, though Bitcoin continued to fall short of the 23.6% FIB Retracement Level of $6,757 needed to support the formation of a near-term bullish trend. The good news was Bitcoin’s break through to $6,600 levels, though Bitcoin will need to be taking a run at $6,700 levels in the coming days to avoid any sell-off.
    On the news wires, there was nothing major to influence direction through the day, with Wednesday’s gain leaving Bitcoin with minor losses for the current week.
    Following a number of weeks in the red, the minor losses in the current week will have the Bitcoin bulls looking to reverse the recent weekly downward trend.
    At the time of writing, Bitcoin was up 0.56% to $6,305.4, with Bitcoin recovering from a start of a day morning low $6,219.9, the early pullback having been a continuation of Wednesday’s late in the day reversal.
    Moves through the early part of the day left the day’s major support and resistance levels untested, with Bitcoin managing to reverse early losses.
    For the day ahead, a move through to $6,360 levels would support a run at $6,400 levels to bring the first major resistance level at $6,543.73 into play, though for Bitcoin to have a chance at breaking through to $6,500 levels, a hold at $6,300 levels through the morning is going to be needed.
    Failure to hold on to $6,300 levels and take a run at $6,400 levels could see Bitcoin hit reverse later in the day, with any pullback to $6,200 levels bringing the first major support level at $6,076.13 into play, though we would expect Bitcoin to steer clear of major support levels and sub-$6,000 levels on the day, barring a material shift in sentiment
    Read more:http://www.xtreamacademy.com/cryptocurrency-news



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