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  #311 (permalink)  
Old 05-04-2020, 09:40 AM
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As for the forecast for the coming week, summarizing the opinions of a number of experts, 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. Despite the economic crisis, falling GDP and rising unemployment, April as a whole was very successful for the main stock indices - investors massively bought back assets that sharply fell in price during the March collapse. As for EUR/USD, the European currency, albeit with difficulty, managed to prevent the onset of the dollar. And although the bears constantly pressed the euro to the lower boundary of the side channel 1.0750-1.1000, the pair ended the month where it was on April 01 — near its upper limit of 1.1000. Now, in order for the European currency to be able to withstand pressure, the ECB needs to seriously intensify its actions. However, EU leaders still cannot agree on the form of grants or loans to implement the upcoming aid program. Such slowness reinforces market expectations regarding a possible drop in European GDP this year by 12%.
Now about the week ahead. At the time of writing this forecast, the vast majority of indicators are colored green. However, about 15% of the oscillators on H4 and D1 already give signals about the pair being overbought, which indicates that it may rebound to the center of the channel 1.0750-1.1000, which is agreed by 65% of analysts. The targets are 1.0900 and 1.0750. If the uptrend continues, the pair will try to break through the resistance of 1.1100 and reach a height of 1.1240.
Among the significant events of the upcoming week that may affect the formation of local trends, you should pay attention to the publication of data on business activity and the labor market in the United States on May 05, 06, and especially on Friday, May 08. The unemployment rate in April is forecast to be 10% lower than in March (14% vs. 4%), and the NFP (the number of new jobs outside the agricultural sector) fall from -701 to -20,000. All this will play against the dollar, although, as often happens, the market can take these negative forecasts into account in advance;

- GBP/USD. There are no specific signals from the indicators regarding the future of this pair, although the greens have a slight advantage over the reds. The greens are supported by graphical analysis on D1, according to which the pair will rise to the height of 1.2865 in the next 1-2 weeks, and then another 100 points higher. The nearest targets are 1.2650 and 1.2725. Supports are at 1.2245, 1.2165 and 1.1965 levels.
The experts' forecast for this pair is also neutral: a third of them vote for its growth, a third – for a fall, and a third – for a sideways trend. But when switching from a weekly to a monthly forecast, most of them (60%) expect the British currency to weaken and the pair to fall.
In addition to the deteriorating state of the UK economy, the pressure on the pound is being put on by uncertainty over Brexit, analysts said. Negotiations on leaving the EU have again reached an impasse, and the main Euro negotiator, Michel Barnier, said that Great Britain was refusing any compromises on very many fundamental issues. Moreover, the British have refused any postponements related to the completion of the process of parting with the European Union, as a result of which the possibility of a tough Brexit has once again loomed on the horizon.
The coming week should pay attention to Thursday 07 May, when the meeting of the Bank of England will take place. The interest rate is likely to remain unchanged at 0.1%. Therefore, the Bank's monetary policy report is of particular interest to investors. And here something unexpected is possible. Given that the recession of the British economy in the II quarter is likely to exceed 8%, the regulator can go on expanding the program of quantitative easing, the volume of which currently stands at ? 645 billion;

- USD/JPY. At the moment, analysts' forecast for this pair is similar to the forecast for GBP/USD — when moving from neutral weekly to monthly, the number of supporters of falling yen and rising dollar rises to 70%. As for the indicators, on D1 they strongly disagree with the experts: 75% of the oscillators and 100% of the trend indicators indicate the continuation of the downtrend that began on March 25 and the pair's consolidation below the key level of 107.00. Support levels are 106.35 and 105.00, and resistance levels are 108.00, 108.50 and 109.40;

– cryptocurrencies. First, traditionally medium and long-term forecasts of gurus and cryptosphere enthusiasts. So, the head of the CoinCorner exchange, Danny Scott, said that the financial crisis against the background of the coronavirus pandemic is forcing more and more investors to turn to bitcoin. "If the situation with the fiat, stock markets and oil does not stabilize, you can expect the coin for $20,000 or even more after the halving. Fiat money that even ordinary citizens receive as part of support can be converted to cryptocurrency. People are beginning to fear that the dollar will lose stability and cease to be an asset with minimal volatility".
Warren Buffett's adviser Preston Pish is also optimistic about bitcoin, who believes that the price of BTC can reach $200-300 thousand. His position is based on fundamental principles, which once again include the halving and the subsequent shortage of the coin supply in the market. At the same time, Pish’s position radically diverges from the position of the famous investor and billionaire Warren Buffet, who is an ardent opponent of cryptocurrencies and especially Bitcoin.
Venture capitalist Tim Draper agrees with Pish as well, he has repeatedly said that the BTC will reach $250,000 by the end of 2022 or early 2023. He has once again confirmed this forecast at Virtual Blockchain Week, saying that one of the catalysts for the growth of the first cryptocurrency will be its use in trading transactions. In his opinion, representatives of this sector of the economy can not but appreciate the advantages of bitcoin and the cheapness of transactions. It is hard to argue with the latter, especially after it became known that the commission for the transfer of BTC on April 22 worth $367 million amounted to only 63 cents.
In general, while maintaining optimism, some experts fear that after the halving, due to a decrease in the reward for a mined block from 12.5 BTC to 6.25 BTC, only the most efficient miners with new equipment and access to cheap electricity can remain in the industry. Such consolidation may disrupt the cryptocurrency ecosystem, which will run counter to promises to increase the decentralization of mining. However, a possible increase in the cost of bitcoin and a drop in energy prices caused by the current crisis gives hope that small crypto farms can stay afloat, while maintaining profitability.
And now about forecasts for the coming week, which may surprise, as more than half of analysts (55%) predict not growth, but the fall of the BTC/USD pair to the zone of 7,700-8,000. Another 20% predict its movement along the $9,000 horizon, and only 25% expect that bitcoin quotes will break through the resistance at the $10,000 level.


NordFX Analytical Group


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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Old 05-07-2020, 09:37 AM
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CryptoNews


- On July 22, the fate of 1.1 million bitcoins belonging to Satoshi Nakamoto, whom Australian businessman Craig Wright claims to be, should be decided in the district court of the Florida Southern District (USA). According to the existing version, he worked on the creation of bitcoin together with the late David Kleiman, whose family now claims half of the 1.1 million BTC (over $ 8 billion at the current exchange rate), which, in their opinion, was grabbed by Craig Wright. However, no evidence has been provided that he really owns these coins. Recall that previously the self-proclaimed creator of bitcoin filed suits for the protection of honor and dignity against a number of well-known representatives of the crypto community who doubted that he was Satoshi, and even openly called Wright a fraud. It later became known that the entrepreneur withdrew the lawsuits against Ethereum co-founder Vitalik Buterin and Blockstream CEO Adam Back. Moreover, in the case of Back, Wright fully paid his legal costs.

- The author of the bestselling book “Rich Dad, Poor Dad” entrepreneur and investor Robert Kiyosaki has once again criticized fiat currencies and praised gold, silver, and bitcoin. “Why do people become poor? Kiyosaki asked, and he himself answered. - One of the reasons is the definition of money. Real money is a measure of value, a means of exchange, a means of preserving value. Fake dollars do not save value. Own gold, silver and bitcoin, which preserve value, serve as a measure of value and are able to be exchanged. Keepers of fake dollars are the losers."
Kiyosaki ganged up on the American currency because of the US Federal Reserve's quantitative easing policy, which reduces the purchasing power of money. He also believes that since 1971, the dollar has become a debt obligation that makes the rich even richer and the poor even poorer.

- Microsoft published a patent application WO2020060606 on March 26, which describes mining of cryptocurrencies using the human body. The document says that a sensor can be connected to the user's body, which would read data on its activity and transmit them to the cryptocurrency system. The latter, in turn, verifies the information received and, if it corresponds to pre-established conditions, it rewards the user with digital currency. In response to this, famous Russian film director Nikita Mikhalkov said in his television program that Bill Gates wants to implant chips in billions of people with the help of this technology, taking them under full control, and do it under the pretext of vaccination against coronavirus. At the same time, the director noted that there is a "diabolical" number 666 in the application number.

- The developer of infrastructure services for the Blockstream ecosystem of bitcoin announced the launch of an updated version of the software to gain access to the first cryptocurrency network via satellite. As part of this space project, Blockstream seeks to solve the problem of using bitcoin in the absence of an Internet connection. The start-up uses six orbital stations to exchange data with a cryptocurrency network in almost all populated regions of the Earth. With the latest update, a satellite has been added to the system to further cover the Asia-Pacific region.

- Less than a week is left until the third bitcoin halving. If in 2009 miners could receive 50 BTC for each block in the distributed cryptocurrency registry, this figure will be only 6.25 BTC in the near future. In anticipation of this event, the amount of computing power used to extract cryptocurrency has reached a record high of 150 exahash per second (EH/s). And since the beginning of 2020, the hash rate of the bitcoin network has grown by about 50%. Analysts associate the surge in activity of miners not only with the halving itself, but also with the Chinese mining enterprises, which again begin to mine BTC after restrictions due to coronavirus have been lifted.
Bitcoin-related and internet user activity has grown. According to Google Trends, the request "to buy bitcoin” has reached its highest value since April 2018.

- The number of “whales” with a balance of bitcoin wallets of more than 10,000 BTC is growing steadily and has reached 111 at the moment. This is the highest since August 2, 2019 and is 11% higher than in early March. Large investors are frightened by the difficult economic situation in the world, including the unprecedented and uncontrolled emission of new money by world powers. As for bitcoin, its volume is limited to 21 million coins, and the monetary policy is programmed in advance and provides for a 50% reduction in the rate of issue every four years. These factors are the reason why many investors are increasingly beginning to regard bitcoin as a safe haven asset and protect against inflation, like gold.

- “Bitcoin is the best investment for me. I have not advised anyone to buy in the last two years, but now I tell everyone - buy!” - said a well-known trader and analyst Tone Vays. He added that Bitcoin will still have problems in 2020. “I do not think that we will rise in price very seriously. Most likely we are stuck between $6,000 and $10,000. And so it will be until the end of the year,” said Vays.



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Old 05-10-2020, 02:19 PM
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Forex and Cryptocurrencies Forecast for May 11 – 15, 2020


First, a review of last week’s events:

- EUR/USD. The Constitutional Court of Germany dealt a blow to the ECB's efforts to save the European economy last week. It decided that the European regulator had exceeded its authority regarding the quantitative easing (QE) program, and therefore its decisions were not binding on Germany. This news immediately weakened the EUR/USD position. If you add to this the lack of compromise among EU governments over fiscal stimulus, the risks of Eurozone fragmentation are growing every day.
However, things are not better on the American continent. Publications of recent data have shown that the situation in the US labor market is even worse than expected. 33.5 million Americans have applied for primary unemployment benefits since late March, non-farm employment in April alone fell by 22.5 million jobs, and unemployment reached 14.7% (4.4% in March). Under such circumstances, some experts do not rule out cutting the Fed's interest rate to negative values.
However, it seems that the market is tired and reluctant to respond to individual figures and events, paying attention only to the resumption of business activity and the removal of restrictive quarantine measures in different countries. Of course, the EUR/USD quotes fluctuate up and down, but the volatility that we observed in late February and March is not even present. The pair has been moving in the 1.0750-1.1000 channel for the fifth week in a row since early April, and, as most (65%) experts predicted, even the expectations of a new round of the US-Chinese trade war could not push it beyond these borders;

- GBP/USD. The forecasts of both experts and indicators for this pair had a neutral gray hue last week. A third of them voted for the growth of the pair, a third - for the fall, and a third - for the side trend. The Bank of England meeting on May 7 did not add clarity, at which it was decided to keep the main parameters of the monetary policy unchanged - the interest rate at 0.1% and the quantitative easing program at ? 645 billion. Calls by two members of the Bank’s management to increase the program by ?100 billion never found support from their other seven colleagues.
In such an implicit situation, the pound has been moving in the channel 1.2200-1.2645 for the sixth week, and the range of fluctuations narrowed to the range 1.2265-1.2500 last week, within which, at the level of 1.2405, the pair ended the trading session;

- USD/JPY. 75% of the oscillators and 100% of the trend indicators on D1 predicted last week the continuation of the downward trend that began on March 25 and the consolidation of the pair below the key level of 107.00. In general, the events developed in this scenario. Recall that on the first day of May, the pair made another attempt to break the support of 107.00, ending the trading session slightly below it — at 106.85. Then the downtrend continued, and on Wednesday May 6, the pair groped for the local bottom at 106.00. This was followed by a reversal, and the pair returned to the values of the beginning of the week, ending the five-day period at the level of 106.70;

– cryptocurrencies. The halving in the Bitcoin network is getting closer and closer. When this forecast is written, it is less than four days away. And when you read it, the halving may already have taken place.
The questions that traders and investors ask us indicate that not all of them understand the meaning of this event. Therefore, it requires clarification.
So, Bitcoin is set up to mine just 21 million coins. Thus, unlike Central banks, which can print an infinite amount of their own currency, the volume of BTC is strictly limited, which determines its value, making this cryptocurrency look like gold.
Halving is the process of reducing the reward for mining a block by half. There have already been two such decreases in the life of Bitcoin – in 2012 and 2016. And if at the first stage miners could get 50 BTC for each block in the distributed registry of crypto coins, this figure will be only 6.25 BTC soon. This should prevent the inflation of the main cryptocurrency and make sure that all 21 million bitcoins are completely mined only by 2140
It is important that halving does not occur on a specific date, but at the moment when the next 210,000 blocks are mined. The upcoming halving will occur at block 630,000 and, according to calculations, this should happen on May 12.
In the run-up to this event, the main cryptocurrency showed a weekly growth of almost 14%, rising at one point even above the landmark mark of $10,000. The total market capitalization of the crypto market has reached $270 billion, of which almost 70% is accounted for by BTC. The Crypto Fear & Greed Index rose in two weeks from 20 to 55, which according to the creators of the index corresponds to the prevailing greed in the market when opening short position is dangerous.
Unlike the benchmark cryptocurrency, the main altcoins either showed zero gain or are in the red zone. Ethereum (ETH/USD), Ripple (XRP/USD and Litecoin (LTC/USD) on Friday evening, May 8, are almost where they were seven days ago, which means that investors are now so passionate about Bitcoin that they just don't care about the rest of the coins.


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Old 05-10-2020, 02:19 PM
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As for the forecast for the coming week, summarizing the opinions of a number of experts, 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 US administration is actively sharpening its teeth, looking towards the Middle Kingdom. Donald Trump gave the command to monitor Beijing's commitments to increase American exports. At the same time, hints are constantly being heard from the US president that China is the primary source of all the problems associated with the COVID-19 pandemic. This allows us to expect that the new anti-Chinese customs rates are not far off.
Europe, on the other measure, is trying to make sense of the decision of the German Constitutional Court, which can cause the problems of the European economy to grow like a snowball. Leading banks such as Societe Generale and Citi are talking about a possible split in the Eurozone if the ECB ignores the decision of the German Constitutional Court and thus challenges the German government. Forecasts show that even in the absence of extraordinary events, the Eurozone GDP decline in 2020 could reach 7.7%.
All this fuels the growth of anti-risk sentiment, as a result of which investors again begin to look at the dollar as a safe haven currency. If the ECB is bound hand and foot in its actions to stimulate the European economy, the EUR/USD pair, according to BofA Merill Lynch forecasts, could fall to 1.0200 by the end of the year.
For the next week, the experts' votes are distributed as follows: 35% believe that the pair will still hold within 1.0750-1.1000, 50% expect the dollar to strengthen and break through the lower border of this corridor, and the remaining 15% turn to the North.
The indicators have a slightly different picture. On H4, 60% of trend indicators and 70% of oscillators are colored green, and on D1, red still prevails, in which 60% of oscillators and 90% of trend indicators are colored.
Support levels are 1.0750 and 1.0650, resistance levels are 1.1000, 1.1065, 1.1100 and 1.1150;

- GBP/USD. The pound is still under pressure. The Brexit-related problems have been multiplied by the coronavirus pandemic. According to the Bank of England, UK GDP in the second quarter of 2020 "will be almost 30% lower" than at the end of 2019. Despite this, the regulator did not increase the volume of the aid program for the British economy, although, at the current rate of bond buying, it will exhaust current limits by the end of July. What happens next? It's not clear yet.
40% of analysts supported by graphical analysis on D1 and indicators on both time frames (H4 and D1) expect the pair to continue the sideways trend in channel 1.2265-1.2500. Another 40% of experts are waiting for the breakout of the lower border of the channel and the pair's decline to the zone of 1.1000-1.2165, and only 20% believe that it will go up and reach the height of 1.2640. The next goal of the bulls is 1.2725, after taking which the pair will try to rise to the level of 1.2865-1.3025;

- USD/JPY. The v-shaped movement of the pair last week divided experts in half — 50%, supported by indicators on D1, favored bears, and the other 50%, supported by indicators on H4, preferred bulls. At the same time, the latter believe that the reversal of May 06 is nothing but the beginning of a new mid-term uptrend. And if the level of tension between the US and China does not rise, the pair will be able to rise to 109.00 and then to 112.00.
Nearest support levels are 106.20, 106.00 and 105.00. Resistance levels — 107.00, 107.45 and 108.00;

– cryptocurrencies. It is ungrateful to make any predictions in anticipation of such an important event as halving. We have repeatedly talked about the predictions of numerous crypto gurus waiting for Bitcoin to rise to $50,000, to $100,000, and up to $250,000. But, of course, there are those who hold the opposite view. So, for example, financial and cryptocurrency analyst Joseph Young expects a slight pullback after halving, and then a series of medium-term and long-term growth periods, followed by falling quotes or flat.
Another well-known analyst and trader, Ton Vays, believes that the BTC/USD pair is unlikely to rise seriously in price. “We're likely to be stuck between $6,000 and $10,000. And so it will be until the end of the year, " he said.
As for forecasts until the end of May, their spread is very high - from the lows of March 2020 around $4,000 to the highs of June 2019 at the level of $14,000. So far, 65% of experts have sided with the bulls, and 35% have sided with the bears. We will find out who of them is right in the near future. It won't be long now.


NordFX Analytical Group


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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Old 05-14-2020, 05:10 AM
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CryptoNews


- The halving took place in the Bitcoin network. This event has divided the reward for mining one block to 6.25 coins. Since the beginning of the year, this event has caused a lot of controversy and speculation about what awaits the main cryptocurrency after it. Despite a lot of positive forecasts, the coin survived the halving at the level below 9 thousand dollars. So far, no significant fluctuations in quotes, nor a loss of hashrate have been noted. The market is frozen in anticipation and may be preparing to jump. But which way?

- The head of the Galaxy Digital crypto-trading bank, billionaire Mike Novogratz believes that the main coin will be traded at $20 thousand by the end of the year. And in 2021, if the trend of cryptocurrency acceptance by regulators continues, the asset has every chance to update its absolute maximum. "Bitcoin has been able to survive the halving that was expected for four years, and now it is ready to take new frontiers. We will see a new 2020 high before autumn. By December, we should expect an update of the historical high. Even though the forecast of 10 thousand dollars before halving did not come true, I do not take back my words, since the coin can go to aggressive growth at any time," Novogratz said.

- In addition to Mike Novogratz, there are still a lot of optimists in the expert community who predict a surge in Bitcoin in the medium term. So, according to Leonard Neo, the head of research at Stack, the BTC climb will begin about 6-9 months after the halving. "Miners will adapt to the new working conditions over the next few weeks," CNBC quoted the expert as saying. – We expect that this [market recovery] may take 6-9 months before equilibrium occurs, after which Bitcoin will move to growth." “Further shocks in the global economy may accelerate its upward trajectory,” Leonard Neo emphasized.

- Bitcoin miners added a symbolic message to the last block before halving. It draws a parallel between the current economic situation and the global financial crisis of 2008. "With $2.3T Injection, Fed's Plan Far Exceeds 2008 Rescue," the miners quoted the headline of the New York Times on April 9, 2020. Adding this message to the block, the miners also paid tribute to Satoshi Nakamoto. On January 3, 2009, the creator of Bitcoin left a similar message in the zero block, using the headline of the British newspaper The Times: "Chancellor on Brink of Second Bailout for Banks."

- The creator of Hashcash algorithm and CEO of Blockstream Adam Back decided to interrupt a new wave of speculation that he was hiding under the pseudonym Satoshi Nakamoto, stating that any coincidence and facts random. The crypto community has repeatedly suggested that it is Beck who can be the creator of bitcoin. His comments on the course of the trial regarding the fate of 1.1 million bitcoins Satoshi Nakamoto, for which Australian businessman Craig Wright poses, added fuel to the fire. We talked about this process in more detail in the previous issue of Crypto News on 06.05.2020.

- Since the second half of 2016, the number of bitcoin addresses with a balance of less than 1 BTC has increased by about 100%. This is stated in a report by analytics company Glassnode. The largest increase was shown by wallets with a balance of less than 0.01 BTC (less than $100). Over the past four years, the number of such addresses has jumped 235% and exceeded 10 million. The number of addresses containing from 0.01 to 0.1 Bitcoin has increased by more than 200% since July 2016. The number of wallets with a balance of more than 0.1 but less than 1.0 coins has increased by 142%. Researchers have also recorded an increase in the number of large holders of cryptocurrency or the so-called “whales”. In four years, the number of addresses containing more than 1000 bitcoins has grown by more than 13%.

- During the pandemic, the use of cryptocurrency ATMs in the United States grew by 40%. Today, Coinstar serves 3,500 crypto ATMs, and now plans to double their number within a year. At the same time, the company claims that this growth was provided by those who used cryptocurrency ATMs for the first time.

- Paul Tudor Jones, founder of the Tudor Investment hedge fund, whose fortune is estimated at $5.1 billion, said on CNBC that bitcoin is an excellent speculation. As for his own approach to cryptocurrency, Jones called it conservative. “I have just over 1% of assets in BTC, maybe the correct figure is closer to 2%,” he elaborated. And he added: “When I think about Bitcoin, I view it as one tiny part of a portfolio. But it may be the best, most profitable of all." Last week, this legendary trader made a loud statement, calling cryptocurrency “the fastest horse” and inviting customers to include bitcoin futures in their portfolio.

- A report from ESTsecurity experts says that North Korean hackers have begun to attack crypto traders with renewed vigor. The infamous Lazarus organization became active again. The authors of the report emphasize that in addition to traders, cybercriminals attack crypto companies, mainly from the Asian region. Lazarus sends emails to potential victims on behalf of organizations purportedly offering asset exchange and storage services. These emails contain malicious files that are stored under the guise of blockchain-based software development agreements. Using the virus, hackers steal victim data and steal funds in cryptocurrency.

- To date, the leading mass media have already announced the "death" of bitcoin 380 times, but the first cryptocurrency is not only still alive, but also survived the very website that first predicted its decline. The CEO of the British cryptocurrency exchange Danny Scott drew attention to this. We are talking about the website Underground Economist, which predicted bitcoin's death on December 8, 2010, when it cost $0.23. "The only thing that has kept bitcoin alive for so long is its novelty. It will either remain in this status of novelty, or it will die faster than you can blink," the publication wrote at the time.


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Old 05-18-2020, 10:00 AM
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Forex Forecast and Cryptocurrencies Forecast for May 18 – 22, 2020


First, a review of last week’s events:

- EUR/USD. There is this expression — “retrain on the fly.” That's exactly what President Trump did on May 14. Prior to that, he talked a lot and often about the advantages of a weak dollar, which would increase the competitiveness of American products in foreign markets and pushed the Fed towards a softer monetary policy. And now, he suddenly announced in an interview with Fox TV: "Right now it's good to have a strong dollar. Having a strong dollar right now is great!” The head of the Federal Reserve, Jerome Powell, also supported his President, saying that the regulator did not and does not consider the possibility of switching to negative interest rates.
The main reason for this 180-degree reversal is that the crisis generated by the COVID-19 pandemic has sharply increased interest in the dollar as a safe haven currency and trying to counter it is like swimming against the tide. In addition, the US authorities have turned on the printing press at full capacity, and it is very important for them now to maintain interest in their own currency. They are afraid that someone may simultaneously throw a large number of dollars into the secondary market, and in order to avoid this, they carefully fuel the confidence of investors that this currency will grow.
Despite this, EUR/USD quotes do not change much, as the euro is not the Turkish lira or Brazilian real, but a currency comparable to the dollar in scale and reliability. And if the pair moved in the side channel 1.0750-1.1000 earlier, the range of its oscillations now has decreased to 1.0770-1.0890. The pair is gradually consolidating near the horizon 1.0800, forming a triangle on a two-month chart and putting the final chord of the week at 1.0820;

- GBP/USD. Pound forecasts still coincide with realities. The British currency is under pressure, Brexit-related problems have been repeatedly increased by the coronavirus pandemic, and GDP is falling. The pound is falling too. The GBP/USD pair lost about 285 points during the week, striving to break the lower limit of the seven-week corridor 1.2165-1.2650, and ending the trading session at 1.2120;

- USD/JPY. The USD/JPY pair is consolidating around 107.00 confirming the thesis that the yen is the same safe haven for investors as the euro or the dollar. Moreover, the Japanese currency has a clear advantage over the euro¬: if the European currency was losing its positions to the dollar in the last one and a half to two months, the yen, on the contrary, was winning them back. And the EUR/JPY cross-pair has fallen by more than 500 points since the end of March (from 121.00 to 116.00). As for the last week, the Japanese currency was kept in a rather narrow range of 106.50-107.75 yen per dollar for the entire five-day period, and completed it at 107.20;

– cryptocurrencies. For starters, a bit of stats. According to Glassnode, the number of bitcoin addresses with a balance of less than 1 BTC has increased by about 100% since the second half of 2016. Wallets with a balance of less than 0.01 BTC (less than $100) showed the biggest increase. The number of such addresses has jumped 235% over the past four years and exceeded 10 million. And that's kind of good news. But if we make simple calculations, we will get that thanks to such a numerous but "small fish", the capitalization of the crypto market has grown by only $0.5-1.0 billion. A drop in the ocean! But the number of large holders of cryptocurrency, real "whales" who own more than 1,000 BTC coins, has grown by only 13% in four years, which suggests a lack of interest from large institutional investors.
Just one example. The other day, the founder of the Tudor Investment hedge fund, Paul Tudor Jones, whose fortune is estimated at $5.1 billion, said on CNBC that bitcoin is, of course, a great speculation, but he considers it only as one tiny, just 1-2%, part of his portfolio.
Crypto investors and major global regulators do not please. So, the US court sided with the SEC, preventing the owner of Telegram messenger Pavel Durov from launching the TON cryptocurrency. A similar fate befell the Libra coin initiated by Facebook, even despite the fact that the project was supported by another 26 such powerful companies as eBay, Uber, Booking.com, Vodafone and others. All this suggests that the US authorities do not need competitors to the dollar at all, and they will do everything they can to prevent such from appearing.
The May 11 halving in the Bitcoin network did not add optimism to the market either. Since the beginning of the year, this event has caused a lot of controversy and speculation about what awaits the main cryptocurrency after it. And despite a lot of positive predictions, the coin experienced halving at below $9,000. The main cryptocurrency could not gain a foothold last week above the sign level of $10,000, having stayed at a height of $10,003 for only a couple of minutes.
The halving of the miners' reward has already led, according to CoinMetrics, to a 30% drop in bitcoin hashrate. Crypto exchanges started actively withdrawing funds, quotes fell to $8,100, and the total market capitalization of the crypto market by the middle of the week sank from $270 billion to $234 billion (-13.3%). The situation, however, somewhat stabilized by the end of the week, the capitalization approached $260 billion, and the BTC/USD pair aimed at storming the height of $10,000 once again. The value of the Crypto Fear & Greed Index fell by 11 points over the week, from 55 to 44.
The charts of the main altcoins, at first glance, repeat the dynamics of BTC/USD, but their recovery is much slower. Unlike bitcoin, etherium (ETH/USD), riple (XRP/USD) and litecoin (LTC/USD) were able to recoup only half of the losses after the May 10 failure.


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Old 05-18-2020, 10:02 AM
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As for the forecast for the coming week, summarizing the opinions of a number of experts, 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. Weakening risk sentiment and selling off exchange-traded funds strengthens the dollar. It is now supported by US President Trump, with his threats to sever any relations with China at all, and the Federal Reserve, which has refused to lower its key rate to negative values. Even the judge of the Constitutional Court of Germany, Peter Huber, helped the American currency, saying that the ECB was not “the master of the universe” to comply with all its decisions.
All this has prompted 65% of analysts supported by 60% of oscillators and 100% of trend indicators on D1 to side with the bears and vote for the decline of the EUR/USD pair. The nearest targets are 1.0750 and 1.0650.
10% of experts and 30% of oscillators, painted in neutral gray, have voted that the pair will continue to consolidate at the 1.0800 horizon. And finally, the remaining 25% of analysts predict the pair will return to the upper boundary of the side corridor 1.0750-1.1000. On D1, they were supported by 10% of oscillators that signal the pair's oversold;

- GBP/USD. According to most experts, the pound is not at all the currency in which it is worth investing even with a fall in risk sentiment. It has long ceased to be a refuge from financial storms. The European Union is currently busy with the process of forming its seven-year budget and its financing problems, the ECB is engaged in a fight with the German Constitutional court, and Brussels is not at all up to the settlement of Brexit-related problems. And the UK, in addition to a divorce from the EU, also has a continuously falling GDP, rising unemployment and a negative balance in foreign trade.
As a result, 65% of experts expect a further weakening of the British currency and its decline to the horizon of 1.2000. In the event of a breakout of this important level, the pair will rush to the lows of March: 1.1640 and 1.1450. Bearish sentiment is also supported by indicators on H4 and D1, demonstrating a rare unity: 85% of oscillators and 100% of trend indicators are colored red.
The opposite point of view is shared by 35% of analysts, 15% of oscillators indicating the pair is oversold, and graphical analysis on both timeframes. In their opinion, the breakdown of the lower boundary of the channel 1.2165-1.2650 is false, and the pair is expected to first return to the central zone of this channel 1.2245-1.2465, and then, possibly, rise to its upper boundary;

- USD/JPY. The yen froze, waiting for the next round of trade and now political war between the US and China to develop. We should not forget that its quotes are also strongly influenced by the level of risk sentiment in the market. There is also a correlation with 10-year US Treasury bonds, and the dependence of the Japanese economy on oil prices. Such an abundance of factors does not yet make it possible to identify the most likely direction of the breakthrough of the consolidation zone in the region of 107.00. At the moment, supporters of the pair's growth have a slight advantage (40%), supported by 65% of the oscillators on H4. 20% of analysts turn their eyes to the South and another 40% – to the East.
The nearest support levels are 106.75, 106.00 and 105.00. The resistance levels are 107.45, 108.00, 108.50 and 109.35;

– cryptocurrencies. So, the bitcoin halving has reduced the reward for mining one block to 6.25 coins. Some miners are already leaving the business or selling assets to cover losses. Even before the halving, a lot of equipment for mining BTC gave minimal profit, and now it has become completely unprofitable. It looks like things are heading towards further monopolisation of mining market, which contradicts the very idea of cryptocurrency decentralization. However, many experts hope that the crisis caused by COVID-19 and the printing of fiat by Central banks will nevertheless push the main cryptocurrency up.
“Bitcoin was able to survive the halving that has been expected for four years, and now it is ready to take new frontiers,” said billionaire Mike Novogratz, head of the Galaxy Digital crypto trading bank. According to him, the main coin will reach a level of $20,000 by December, and then the asset has every chance of updating its absolute maximum.
In addition to Novogratz, there are still enough optimists in the expert community who predict a surge in bitcoin in the medium term. So, according to Leonard Neo, the head of research at Stack, the BTC climb will begin about 6-9 months after the halving. At first, miners will adapt to new working conditions, after which bitcoin will turn to growth. “Further upheavals in the global economy may accelerate its upward trajectory,” CNBC quoted the expert as saying.
In the near future, task No. 1 for BTC/USD is to overcome the height of $10,000. Moreover, Bitcoin should not only take this line, but also confidently gain a foothold above it. Only in this case can we expect further rapid growth of quotes of this pair. 60% of analysts agree that it will be able to rise to the level of $10,500-11,000 in May-June. The remaining 40% expect to see the pair significantly lower: in the $8,000-9,000 zone. And here it should be noted that a number of experts draw apocalyptic paintings altogether, predicting the failure of the main cryptocurrency to levels around $ 6,500.


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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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Old 05-20-2020, 04:46 PM
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CryptoNews


- Instead of searching for a COVID-19 vaccine, European supercomputers were mining cryptocurrency. After stealing access data from service personnel, hackers installed malware for mining on several heavy-duty computers that were used to develop a coronavirus vaccine. The massive attack affected supercomputers in the UK, Germany, Switzerland and possibly Spain. The first case of infection was discovered on May 11 at the University of Edinburgh in Scotland. Later similar problems were identified at the German University of Ludwig-Maximilian, the Swiss Center for Scientific Computing and the Leibniz Computer Center in Bavaria. Computers had to be temporarily disabled to remove malicious software that was mining Monero coins.

- The yield of bitcoin this year is far ahead of gold. The precious metal has risen in value by 12% since January. The value of bitcoin has increased by more than 35% over the same period. According to experts from TradingView (a social network for traders), the volatility of the main coin was significantly higher, which affected the risks of buying cryptocurrency. But even so, the cryptocurrency market now looks significantly more stable than the stock market. Even the shares of the world's largest banks have lost significantly in price. For example, JPMorgan quotes fell by 37.2%, as a result of which BTC outperformed the bank in terms of market value growth by 300%. Wells Fargo shows the worst result among the study participants: shares of this bank collapsed by 55.3%.
"Even in the economic crisis, bitcoin has the status of one of the best assets to invest in. When the world begins to gradually come out of the current situation, the cryptocurrency market will retain superiority in certain industries. Other assets will be forced to earn credibility again," says Morgan Creek co-founder Anthony Pompliano.

- Analysts at the TIE (a company offering digital solutions) published a report that shows that Twitter users' interest in bitcoin has jumped to a historical high. The upward momentum has been recorded throughout this year, but a sharp spike has come in the run-up to May's halving. Over the past 30 days, the number of posts dedicated to the main cryptocurrency has skyrocketed to its highest point in 2.5 years. And the number of positive tweets significantly exceeds the number of negative mentions.

- China continues to lead in the ranking of countries in terms of computing power in the Bitcoin network. At the moment, just three mining pools, F2Pool, AntPool and BTC.com, account for 52.9% of Bitcoin hashrate (21.8%, 16% and 15.1%, respectively). Moreover, AntPool and BTC.com pools are part of the structure of the Chinese company Bitmain. So, it turns out that this giant and F2Pool together control the lion's share of the global Bitcoin mining. In this regard, a number of industry representatives have already sounded alarm about the reality of the threat of centralization of this “decentralized” cryptocurrency.

- According to the Anti-Terrorism Project, the ISIS terrorist organization banned in many countries stores more than $ 300 million in cryptocurrencies. "I calculated that from 2017 to 2020, the terrorists received about $300 million, which we were not able to detect, and cryptocurrencies can be used to hide them. This is really an ideal mechanism for hiding money. With proper organization, governments will not be able to locate or confiscate them,” wrote the director of the Anti-Terrorism Project, Hans-Jakob Schindler. The statement also says that in 2019, ISIS used cryptocurrencies to organize a terrorist attack in Sri Lanka. 250 people became victims of the attack then.

- The leading cryptocurrency is still unable to break through the $10,000 mark; however, this may change within 72 hours. This was stated by a well-known trader Tone Vays in a live broadcast on the ForkLog channel. "I believe that Bitcoin can go up very seriously. How high? Somewhere up to $12,000,” Vays said. And he added: "If we get stuck now and start falling to $9,000, I will expect us to fall below $8,000. If we break $10,000, everything will be fine.”

- Well-known cryptocurrency investor Tour Demister believes that Bitcoin can make another parabolic rally. In his opinion, the leading cryptocurrency is about to complete the phase of re-accumulation, followed by a powerful breakthrough in its exchange rate. “Bitcoin is fast approaching its second Golden Cross of 2020 - the intersection of the 50-day above the 200-day moving average (SMA). Last year, the Golden Cross led to an increase of 160%. After a false start in February, will BTC get lucky a second time?” - asked Demister.

- Bitcoin will be able to break above $20,000 within the next 18 months, according to eToro analyst Simon Peters. Moreover, the expert does not exclude the option in which BTC will test the value of $50,000, Bloomberg reports. The eToro analyst said that if the United States and many other states really move to negative rates, investment in Bitcoin will begin to grow rapidly. After that, taking the mark at least of $20,000 will already be inevitable.

- The entrepreneur and author of the bestselling book “Rich Dad, Poor Dad” Robert Kiyosaki believes that the Fed’s incompetence is killing the US economy, so the price of bitcoin will rise to $75,000 in three years. He said he had increased his investment in gold, silver, and bitcoin due to the intention of the US authorities to pour trillions of dollars into saving pension plans. We are talking about a bill on a new stimulus package for the economy, passed so far only by the U.S. House of Representatives. Forbes journalists noted that the section on assistance to pension plans assumes unlimited allocation of funds. “The economy is dying. The Fed is incompetent. Next is the infusion of trillions into pensions. Hope disappears,” Kiyosaki wrote.

- Cryptocurrency payment operator Cryptobuyer announced that Venezuelan residents will soon be able to pay with cryptocurrencies in 20,000 retail outlets in the country. As early as June, Central Madeirense supermarket chain, Farmatodo pharmacies, Cinemas Unidos and many other stores will start accepting BTC, ETH, DASH, LTC, BNB, USDT, DAI and Cryptobuyer own token - XPT.

- Hackers created a fake account of Google founder Sergey Brin on YouTube and promised to distribute 5000 BTC on his behalf. At a certain point, more than 100,000 people watched the live broadcast – an old speech by Brin was shown in a small window, and a fraudulent scheme was promoted against his background. The organizers traditionally offered to transfer from 0.1 to 25 BTC to their account in order to get twice as much. Note that such schemes were popular on Twitter in 2017-2018. The video and the channel are not available at the moment.

- “The creator of the Harry Potter novel series, Joan Rowling, who previously tried to figure out Bitcoin, said she was just “trolling Bitcoin in the hope of increasing her significant Ethereum assets.” True, this turned out to be a joke as well. This is how the writer responded to the speculation of some cryptocurrency media about her possible joining the bitcoin community.


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Old 05-23-2020, 03:10 PM
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Forex Forecast and Cryptocurrencies Forecast for May 25 – 29, 2020


First, a review of last week’s events:

- EUR/USD. Tensions between the U.S. and China continue, which can not but affect the markets. President Trump said he will respond “very strongly” to Beijing’s legislative initiatives. This applies, in particular, to the desire of the PRC to strengthen control over Hong Kong, which has previously served as the cause of unrest in this country. If China continues to take this path, Donald Trump said on Thursday May 21, he “will deal with this issue very decisively.” In parallel, the US administration continues to point to the Celestial Empire, as the source of the global coronavirus pandemic, and requires appropriate compensation from it.
In addition, the United States announced the withdrawal from the “open skies” treaty, which could be a harbinger of a new arms race and reinforces the expectation of another round of geopolitical tensions.
As for the current economic indicators of the USA and the Eurozone, in spite of certain improvements, it is still very, very early to talk about their confident recovery. So, despite the fact that, according to Markit, the composite index of business activity in the manufacturing sector of the Eurozone in May rose from 13.6 to 30.5, consumer demand continues to fall, and the number of jobs continues to decline at a tremendous speed.
In the US, business activity also went up, but there are also huge problems with unemployment. The number of initial applications for unemployment benefits fell slightly during the month, from 2,687K to 2,438K, and the number of Americans receiving this benefit exceeded 25 million.
This situation of economic uncertainty both in the USA and in Europe does not allow investors to give preference to any of these currencies and has been holding the EUR/USD pair in the side corridor 1.0750-1.1000 for the second month running. So last week, the pair first rose to the upper border of this channel, and then sank into its central zone, completing the five-day period at around 1.0900;

- GBP/USD. A whole block of UK macroeconomic indicators was published last week, which turned out to be quite contradictory. It seems that the situation on the labor market has improved: the unemployment rate was 3.9% instead of the forecast value of 4.4%, and business activity in the service sector did not fail either — the Markit index showed an increase from 13.6 to 30.5, the preliminary index of supply managers (PMI) rose from 32.6 in April to 40.6. On the other hand, the consumer price index (CPI) fell from 1.5% to 0.8%, and this despite the fact that the target level of the Bank of England is 2%.
The inflation rate in April proved to be the slowest since August 2009, and such a decline in inflation could prompt the Bank of England to lower interest rates further. So, The Bank's Governor, Andrew Bailey, said on Thursday that it would be foolish to rule out the possibility of introducing negative interest rates. Only a week ago, he had denied the possibility.
In general, as was already said, the situation last week was quite contradictory, and perhaps that’s why the pound slowed down, and the dynamics of the GBP/USD pair as a whole repeated the dynamics of EUR/USD: having found the local bottom at 1.2070, the pair turned around and went up to the height of 1.2295. This was followed by another reversal and decline, including by Andrew Bailey's statement, to 1.2170;

- USD/JPY. Japanese Finance Minister Taro Aso and Bank of Japan Governor Haruhiko Kuroda issued a statement on Friday May 22 that the government and the country's Central Bank would work together on putting the economy back on the path of growth. The high officials have noted that the number of bankruptcies in Japan has grown rapidly over the past month. In this regard, Kuroda announced a program worth 30 trillion yen, under which companies affected by the coronavirus pandemic will be able to obtain loans without collateral and at a zero interest rate. Such steps by the regulator to ease monetary policy push the pair up, although this movement can not be called strong. Over 2.5 weeks, its quotes increased from 106.00 to 107.60, as a result of which, having drawn the letter V, the pair returned to where it was already in early and in mid April, to the zone 107.30-108.00;

– cryptocurrencies. Let's start with secrets and mysteries. For the first time in a year, unknown people transferred more than 28 BTC ($258 thousand) to an anonymous address from the wallet where the bitcoins stolen from the Bitfinex exchange were stored. But this is not a sensation, but a topic for police investigation. The sensation is that Bitcoins, possibly belonging to Satoshi Nakamoto himself, also began to move! The crypto community has always been interested in coins mined at the origin of the network when they were mined by only a few people, including the creator of bitcoin. And now 50 BTC, which had been lying dead weight since 2009, are in motion.
According to some analysts, these and other processes are directly related to the consequences of halving. Against the background of the falling hashrate in the last recalculation, the complexity of bitcoin mining also decreased, but this has not helped to normalize the situation so far. Despite the best efforts of the bulls, the BTC/USD pair never managed to break the key level of $10,000. But, as you know, what does not grow, falls. After not waiting for the long-awaited jerk up after the halving, many traders began to eliminate their long positions and take profits, as a result of which the quotes of the main cryptocurrency fell by about 10%, to the level of $9,000.
As a result of the sell-off, the total capitalization of the crypto market fell from a May 18 high of $273 billion to $246 billion on May 21, but the value of the Crypto Fear & Greed Index is about the same level as a week ago, 42 vs. 44.
It should be noted that, despite the small drawdown of BTC/USD, the profitability of bitcoin this year was far ahead of gold. The precious metal has risen in value by 12% since January, while bitcoin has risen by about 30%. The advantage of the main cryptocurrency over the stock market looks much more impressive. For example, JPMorgan quotes fell by 37.2%, as a result of which BTC bypassed this bank in terms of market value growth by more than 200%.
But the most impressive result was not bitcoin at all, but Ethereum, which has "grown fat" by almost 55% since the beginning of the year. According to a number of experts, ETH has very good prospects as its network becomes increasingly active. This is due, among other things, to the launch of decentralized financial applications (DeFi), which reduce the circulation of coins, creating an effect similar to the BTC halving.
The main altcoin was supported by the author of the Harry Potter series of novels, J.K. Rowling. Previously, she tried to figure out bitcoin, after which she stated that she was only “trolling bitcoin in the hope of increasing her significant ethereum assets.” True, this turned out to be a joke, but additional PR to ETH coins was provided.
At the moment, apologists for the main cryptocurrency do not consider ETH a competitor - the share of bitcoin in the market is 65% compared to 8.4% for ethereum. But it is enough to recall the middle of June 2017, when these coins were close to parity - 38% and 31%, and ask the question: why should the situation not happen again?


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Old 05-23-2020, 03:11 PM
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As for the forecast for the coming week, summarizing the opinions of a number of experts, 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. As already mentioned in the first part of our review, while maintaining the current status quo, the pair has a lot of chances to stay within the side channel 1.0750-1.1000. However, further escalation of geopolitical tensions, reinforced by the repeated outbreak of the COVID-19 pandemic, is able to return gloomy moods to the markets again. Most likely, there will be no new panic, but interest in protective assets such as the US dollar will begin to grow again. For this reason, most experts (70%) do not rule out a breakthrough of support 1.0750 and a decrease of the pair to the lows of March in the area of 1.0635. The possibility of raising the pair to the zone 1.1100-1.1240 in the medium term is considered only by 30% of analysts.
Among the events that should be noted in the coming week are the release on May 28 of data on orders for durable goods, unemployment and US GDP, as well as, a day later, on May 29, data on the consumer market in the Eurozone;

- GBP/USD. Despite some positive macroeconomic data, the overall situation in the British economy does not look very happy. And this may push the Bank of England to increase the quantitative easing (QE) program by ?100 billion and lower the key interest rate to negative values. All these factors continue to pressure the pound, especially as the head of the Federal Reserve, Jerome Powell, categorically stated that his organization is not considering the possibility of imposing negative rates on the US dollar.
At the moment 70% of analysts believe that the last week's correction has finished, and the pair is expected to further decline first to the horizon of 1.2075, and then to support 1.2000. In the event of a breakout of this important level, the pair will rush to the lows of March: 1.1640 and 1.1400.
85% of oscillators and 100% of trend indicators on H4 and D1 side with the bears. The remaining 15% of oscillators give signals that the pair is oversold, which 30% of experts agree with. In their opinion, the pair is expected to return first to the central zone of the channel 1.2165-1.2650, and then, possibly, rise to its upper boundary.
The compromise option is offered by graphical analysis on D1, which draws first a rise to 1.2350, and then a decrease by mid-June to 1.1400;

- USD/JPY. A strong decline in activity in the Japanese economy (the second largest economy in Asia and the third in the world after the economies of the USA and China) continues, and therefore inflation in the country will decrease, and production growth will slow down at least until early 2021. The Bank of Japan has been trying for a long time to warm up inflation by launching various incentive programs and keeping key rates in the red zone. However, there are still no major gains in sight, and further steps in this direction will only increase the pressure on the yen. The demand for the yen as for the haven-currency is on the opposite side of the scale, which will rise as the political and economic conflicts between the US and the PRC escalate. But this factor is more likely to affect the cross-rates of the Japanese currency, as the investors also see the dollar as a protective asset, even stronger than the yen.
However, 65% of experts expect the return of the USD/JPY pair to the minimum of May 06 in the 106.00 zone at the moment. Supports are 107.30, 106.80 and 106.20. Further growth of the pair is possible according to 35% of analysts. The targets are 107.85, 108.00, 108.50 and 109.25;

– cryptocurrencies. Traditionally, first about the medium - and long-term forecasts of well-known crypto enthusiasts. So, the Bloomberg Agency cites analyst Simon Peters that within the next 18 months, bitcoin will be able to break above $20,000. According to Peters, if the US and many other states do move to negative rates, the capital investment in bitcoin will start to grow at a rapid pace. After that, taking a mark of at least $20,000 will be inevitable, and the appearance of BTC/USD near the height of $ 50,000 is not ruled out.
A somewhat smoother takeoff is drawn by entrepreneur and author of the bestseller "Rich Dad, Poor Dad" Robert Kiyosaki, according to whom, the intention of the US authorities to pour trillions of dollars into saving the pension plans will kill the economy of this country, which will cause the price of bitcoin to grow to $75,000 in three years.
If Kiyosaki measures the future of BTC by three years, renowned trader Tone Vays capped his forecast to just three days. He said live on ForkLog that “Bitcoin could rise very seriously. How high? Somewhere up to $12,000,” Vays said. And he added: "If we get stuck now and start falling to $9,000, I will expect us to fall below $8,000. Three days have passed, bitcoin is stuck at $9,000, and now, according to Vays's forecast, should we wait for its further collapse?
If we talk about the scenario for the coming week, here the votes of experts were more or less evenly distributed in the range of $8,400-10,000. But if we move on to a longer-term forecast, 80% of analysts are sure that bitcoin will still be able to gain a foothold above the $10,000 horizon by the end of June. However, of course, there are also pessimists who remind, as recently, between two “bad” dates — February 13 and March 13, just a month away, bitcoin collapsed from $10,480 to $3,845, making one think of its ultimate collapse.


NordFX Analytical Group


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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