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Daily F.X. Analysis, October 23 – Top Trade Setups In Forex – Parliament Brexit Vote Rejected!

Daily Market Analysis October 23, 2019 0

The U.S. dollar gains bullish momentum on the rejection of Brexit Deal via Parliament Vote. In voting, the government deal for Brexit was approved, but the schedule was rejected. In response to which PM Boris Johnson said that the first consequence of this action by legislation would be No-Deal Brexit. After the threats of no-deal Brexit from PM Boris Johnson, Donald Tusk, the President of the European Council, said that E.U. was considering granting an extension to the U.K. after the letter from Johnson was received. Johnson then claimed that he would pause the legislation and go for a No-Deal Brexit on the said deadline of October 31. Let’s see how Boris Johnson plays now. Economic Calendar – Parliament Brexit Vote Rejected! Economic Calendar by TradingView BTC/USD – Daily Analysis The leading cryptocurrency, Bitcoin, fell sharply below 8,000 level after the total crypto market cap declined to escalate beyond the $220.0B resistance and sank lately. The BTC/USD price plunged over 3%, and it is presently trading beneath the $8,000 support zone. Alongside, the Litecoin (LTC) price is dropping nearly 4%, and it is advancing to the $52.00 support level. The Trump government began to discourage the bitcoin bubble of 2017 by supporting the initiation of futures products, a retired executive announced on Monday. With this, the threats of the bitcoin bubble burst loom around the corner, and consequently, we noticed sell-off from a certain amount of traders. BTC/USD – Daily Technical Levels Support Resistance 7,822.83 8,079.36

Daily F.X. Analysis, October 22 – Top Trade Setups In Forex – Canadian Elections, Justin Trudeau Wins!

Daily Market Analysis October 22, 2019 0

Justin Trudeau was on track to get a second session as Canada’s prime minister in an election viewed as a vote on the Liberal leader and his four-year-old government following a string of scandals. After the closing of voting polls, Canadian broadcasters announced a Liberal minority government, which implies Trudeau will operate with other parties to rule. The notable progress of Brexit and the US-China trade deal has decreased uncertainty from the market and supported Euro against the US Dollar last week. The pair showed remarkable growth in the previous week, but it moved in a downward trend at the beginning day of this week. Economic Calendar – Canadian Elections, Justin Trudeau Wins! BTC/USD – Daily Analysis Bitcoin has soared over the $8,000 price mark during the Asian session despite showing symptoms of recovery in previous hours. The world’s biggest cryptocurrency place an intraday low of $7,950, before making its way to its current trading price of around $8,216. BTC is recording a surge of 3.73% in the past 24 hours. A couple of days ago, the 18th million BTC was mined, devising the world with just 3 million specimens to mine, which was sufficient cause for crypto-skeptic Peter Schiff to allege that Bitcoin’s fate “looks horrible” and that it is merely a subject of time for the most common cryptocurrency to undergo a “rapid drop down to $4,000 or lower!” BTC/USD – Daily Technical Levels Support Resistance 7,822.83 8,079.36 7,694.36 8,207.42 7,437.83 8,463.95

Daily F.X. Analysis, October 21 – Top Trade Setups In Forex – Welcome to Fresh Week!

Daily Market Analysis October 21, 2019 0

The financial markets continue to trade risk-off sentiment after the Brexit failed to pass the parliament vote. During the weekend, the Brexit remained in the limelight and would remain a significant driver of this pair movement at the start of this week. UK Parliament sat on Saturday and passed an amendment that required PM Boris Johnson to ask for 3rd extension for Brexit. Johnson was forced to write an extension letter to European Union after the majority of Parliament voted in favor of an amendment against his revised proposed Brexit deal. Economic Calendar – Eelection Day in Canada BTC/USD – Daily Analysis Bitcoin has soared over the $8,000 price mark during the Asian session despite showing symptoms of recovery in previous hours. The world’s biggest cryptocurrency place an intraday low of $7,950, before making its way to its current trading price of around $8,216. BTC is recording a surge of 3.73% in the past 24 hours. A couple of days ago, the 18th million BTC was mined, devising the world with just 3 million specimens to mine, which was sufficient cause for crypto-skeptic Peter Schiff to allege that Bitcoin’s fate “looks horrible” and that it is merely a subject of time for the most common cryptocurrency to undergo a “rapid drop down to $4,000 or lower!” BTC/USD – Daily Technical Levels Support Resistance 7,822.83 8,079.36 7,694.36 8,207.42 7,437.83 8,463.95 Pivot Point 7,950.89 BTC/USD – Daily Forecast The BTCUSD has violated the sideways range during the weekend.

Daily F.X. Analysis, October 18 – Top Trade Setups In Forex – U.K. & E.U. Agree on Brexit Deal!

Daily Market Analysis October 18, 2019 0

The European Union and the United Kingdom agreed on a proposed deal for Brexit on Thursday. However, Northern Ireland’s Democratic Unionist Party announced in a statement that they would vote against the deal on Saturday. After this statement, the traders lost interest in British Pound, and the demand shifted towards the Euro. Hence, EUR/USD rose to 6 weeks high on Thursday. According to the new deal agreement, Northern Ireland would legally remain in the United Kingdom’s customs territory. Which will allow Johnson to boast the country “whole & entire” had left the E.U. But Ireland would remain in a single market of European Union for goods, and E.U.’s customs code would be enforced on products coming from the U.K. into Northern Ireland. Economic Calendar – U.K. & E.U. Reaches on Brexit Deal BTC/USD – Daily Analysis Bitcoin is consistently getting weak, having lost nearly 2% on growing trading volumes yesterday. The leading cryptocurrency by market-rate dropped from $8,150 to $7,912 in the early U.S. trading hours on Wednesday before publishing a close at $7,996. The price slide strengthened the case for a retest of fresh lows near $7,750 put forward by Tuesday’s bearish “outside bar” candle. The buyers need to push prices back over $8,300 immediately or risk allowing full market control to the sellers in the short term. BTC/USD – Daily Technical Levels Support Resistance 8,133.86 8,654.05 7,951.34 8,991.72 7,431.15 9,511.91 Pivot Point 8,471.53 BTC/USD – Daily Forecast The BTC/USD continues to

Daily F.X. Analysis, October 17 – Top Trade Setups In Forex – U.K. & U.S. Fundamentals Ahead!

Daily Market Analysis October 17, 2019 0

The risk sentiment turned on after the series of positive news coming from the Brexit and Chian. Which eventually added bearish pressure on the safe-haven asset gold. European Union gave the task to PM Boris Johnson of getting support from the Democratic Union Party of Ireland on Tuesday to secure a Brexit Deal before E.U. Summit, which is due on Thursday. The dollar gained bullish momentum after the Eurozone’s Final CPI from European Union showed a drop to 0.8% against 0.9% expectations and weighed on Euro. However, the Final Core CPI remained flat as expected 1.0% and supported Euro. At 14:33 GMT, the European Trade Balance showed growth to 20.3B against 18.6B expectations and supported the single currency Euro on Wednesday. Economic Calendar – U.K. & U.S. Events In Focus BTC/USD – Daily Analysis Securities and Exchange Commission (SEC) of the United States is frequently demanding comments on a proposed exchange-traded fund (ETF) based nearby bitcoin and Treasury bonds. BTC/USD experienced a massively bearish Wednesday, wherein its rate dropped from $8,158 to $7,994, moving under the $8,000-level in the process. So far now, the price has dropped more to $7,975. The hourly analysis reveals to us that BTC/USD was trending horizontally ere it fell from $8,151.38 to $7,984 in merely in 2 hours. BTC/USD – Daily Technical Levels Support Resistance 8,133.86 8,654.05 7,951.34 8,991.72 7,431.15 9,511.91 Pivot Point 8,471.53 BTC/USD – Daily Forecast Bitcoin has come out of its tight trading range of 8,115 – 8,340.

Daily F.X. Analysis, October 16 – Top Trade Setups In Forex – U.K. & U.S. Events In Focus!

Daily Market Analysis October 16, 2019 0

Global markets are expecting movements on the release of retail sales and inflation figures from the U.S. and U.K. The major highlight of the day was the British pound which soared to its highest level since mid-May versus the dollar, following a statement that administrators were confined to a deal for Britain to withdrawal the European Union. Sterling spiked after the report from Bloomberg about the Brexit deal on Tuesday. It was reported that the United Kingdom and the European Union have agreed on a legal draft of Brexit deal after the meeting of both parties. Economic Calendar – U.K. & U.S. Events In Focus BTC/USD – Daily Analysis Securities and Exchange Commission (SEC) of the United States is repeatedly requesting remarks on a suggested exchange-traded fund (ETF) based nearby bitcoin and Treasury bonds. Technically, Bitcoin is facing key resistance at $8,739. At the time of writing, bitcoin is exchanging hands at $8,310, drawing a 0.1% loss on Wednesday. It’s also worth marking that moving average crossovers are depending on past prices, and these tend to lag the price action. So we can’t depend on these lagging indicators. Anyways, the Bitcoin continues to trade within a tight trading range of 8,115 – 8,340 for another day. We need a breakout to determine further trends. BTC/USD – Daily Technical Levels Support Resistance 8,133.86 8,654.05 7,951.34 8,991.72 7,431.15 9,511.91 Pivot Point 8,471.53 BTC/USD – Daily Forecast The BTC/USD may gain support above 8,115 levels

Daily F.X. Analysis, October 15 – Top Trade Setups In Forex – BOE Gov Carney Speaks!

Daily Market Analysis October 15, 2019 0

On Tuesday, the dollar floated under 2-1/2-month highs versus the safe-haven currency Japanese yen The greenback failed to extend fresh gains as confidence over trade agreements between the world’s two largest nations and for a definite British departure from the European Union started to decline. The U.S. dollar also traded slightly bearish after the Eurozone’s Industrial Production for the month of September at 14:00 showed growth and supported Euro by releasing at 0.4% against 0.3% expectations. Today, investors will be looking to trade the BOE Gov Mark Carney Speech later in the day. Economic Calendar – BOE Gov Carney Speaks BTC/USD – Daily Analysis The BTC/USD bulls seemed as if they were carrying invasion during the previous week as BTC/USD grew by above $1,000, albeit instantly. Bitcoin surged during the week from a low point of $7,760 placed on October 7 to above $8,800, where it declined to nearby the 200 Day Moving Average (MA) on October 11. Following this, 50% of the weekly earnings were dried out in a matter of minutes as it dropped back below to the $8,300 range. As Bitcoin price tries another return, could we begin to notice altcoins recovering impulse? Let’s discuss the technical side of the market, as the BTC/USD traded mostly in narrow ranges due to holidays in the U.S.m, Japan, and Canada. BTC/USD – Daily Technical Levels Support Resistance 8,133.86 8,654.05 7,951.34 8,991.72 7,431.15 9,511.91 Pivot Point 8,471.53 BTC/USD – Daily Forecast Bitcoin trades inline

Daily F.X. Analysis, Oct 14 – Top Trade Setups In Forex – Happy Thanksgiving Day!

Daily Market Analysis October 14, 2019 0

The US Dollar is considered as the biggest rival of the Euro, and these currencies often see a negative correlation. Another reason behind the Euro’s strength last week was the weakness of the US Dollar. Michel Barnier, the EU negotiator on Friday, said that UK has accepted that the Custom border cannot be erected as a solution to the backstop, and both sides were racing to reach a deal before EU Summit next week. US Dollar showed weak performance last week after the release of minutes from the Fed’s previous meeting, which showed a surprising split in tone among officials. Fed in the last month cut its bank rate by quarter points. The minutes revealed that some officials were against the bank rate cut, and some wanted an aggressive rate-cut. The speculations that the Fed will be more dovish next month made US Dollar wear. Overall, the banks will be closed in observance of Thanksgiving Day today. Economic Calendar – Thanksgiving Day BTC/USD – Daily Analysis The Bitcoin traders were excited to see Bitcoin had suddenly dropped the $8,600 resistance to break over $8,800 in less than an hour. It was a huge move, and it would have established the point that bulls had obtained enough force to start a rally. Since its very small pump to $8,700 on Friday, BTC dropped back to support at just over $8,300 and settled there for the span of the weekend. Very light trading activity had occurred until late Sunday trading

Daily F.X. Analysis, Oct 11 – Top Trade Setups In Forex – Canadian Labor Report Ahead!

Daily Market Analysis October 11, 2019 0

On Friday, most of the investor’s focus stays on the U.S. – China trade talks. The United States and China started its top-level negotiations in Washington. After the meeting, it was reported in South China Morning Post that there was no progress in deputy-level trade-talks and that Liu would cut his visit short. The last month’s Federal Reserve meeting minutes were issued on Wednesday, which showed increasing concern about the market expectations on further rate cuts this year. The U.S. Consumer Price Index (CPI) showed a drop in September and increased the possibility of further rate cuts by fed and made U.S. Dollar weaker on Thursday. The ECB lowered its deposit rates by ten basis points and introduced a new bond-buying program that would schedule in November. Bank’s officials highly criticized this decision as it would lead to less growth and lower productivity. Economic Calendar – Canadian Labor Report Ahead BTC/USD – Daily Analysis Lately, there was a definite surge in bitcoin over the $8,602 and $8,652 resistance areas versus the US Dollar. Besides, the price fastened over the $8,800 resistance zone and endured well over the 100 hourly simple moving average. The price traded near to the $8,950 level and made a fresh weekly high at $8,934. Nevertheless, the price attempted to stay more elevated, and there was a definite drop under $8,800. In addition to this, the price breached the 61.8% Fib retracement point of the current rally from the $8,457 low to $8,934 peak. There is a

Daily F.X. Analysis, Oct 10 – Top Trade Setups In Forex – GDP and CPI Figures In Focus!

Daily Market Analysis October 10, 2019 0

On Thursday, the financial market’s focus stays on the range of high impact economic events such as the U.S. CPI and U.K. GDP, which are due to come out during the day. There was no macroeconomic release from the European side, and as of the American side, the Final Wholesale Inventories at 19:00 GMT, came in favor of Dollar as 0.2% against expected 0.4%. However, the JOLTS Job Openings with 7.05M against 7.35M expectations weighed U.S. dollars. So, the data release from the United States had almost null-effect on EUR/USD. Economic Calendar – U.S. CPI and U.K. GDP Ahead BTC/USD – Daily Analysis Bitcoin (BTC) soared 5.1% to trade at the highest price in three weeks following the Federal Reserve (Fed) remarks it would issue money to grow the volume of bank reserves – seen as a move by the U.S. central bank that could trigger inflation. Moreover, the speculation that SEC might allow ETF employment by Bitwise is feeding confidence that more investors could allot funds to the cryptocurrency. Lately, the Bitcoin has undergone an abrupt drop in late September, dropping from over $10,000. While the monthly futures contracts of BTC’s first week of trading, it succeeded in earning just $5 million of cumulative volume, frustrating industry watchers who had expected a higher uptake from large institutional traders. BTC/USD – Daily Technical Levels Support Resistance 7,671.27 8,489.78 7,281.7 8,918.72 6,463.19 9,737.23 Pivot Point 8,100.21 BTC/USD – Daily Forecast The BTC/USD has also

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