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  #521  
Old 06-02-2021, 13:04
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Forex Forecast and Cryptocurrencies Forecast for February 08 - 12, 2021


First, a review of last week’s events:

- EUR/USD. The dollar has been growing throughout the week, fueled by optimism about the imminent recovery of the US economy. The incidence of coronavirus is down sharply: in just three weeks since the peak, the 7-day moving average has dropped by almost 50%. And a successful vaccination, complete with a new economic aid package, can generally lead to an economic boom in the country.
And that is where the confusion begins, which has puzzled many economists. With the outbreak of the pandemic at the end of last February, an inverse correlation has clearly emerged between the dollar and stock indices. After an initial sharp collapse, thanks to fiscal incentives (QE), lower interest rates and pumping the US economy with cheap money, stock indices, S&P500, Dow Jones, Nasdaq, went up, and the DXY dollar index went down.
And here came 2021, and everything turned upside down. Against the backdrop of good economic data and expectations of a new injection of financial "vaccine" for almost $2 trillion, the growth of risk sentiment and stock indices continued. But in parallel, the yield of long-term US Treasury bonds and the dollar grew.
“But it shouldn't be that way,” many experts exclaim. A soft monetary policy and pumping liquidity into the market should lead to a weakening of the currency, but not vice versa. Or maybe it's not the dollar's strength at all, but the weakness of its competitors? First of all, the euro?
Starting on Monday at 1.2135, the EUR/USD pair groped the local bottom at 1.1950 on the morning of Friday 05 February, breaking through 1.2000 support for the first time in 10 weeks. After that, the correlation between the stock market and the dollar once again changed its sign, from plus to minus this time: the S&P500 continued to grow, while the DXY began to fall. As a result, the EUR/USD pair went up again and finished the five-day period at 1.2050;

- GBP/USD. We predicted that at its meeting on Thursday 04 February, the Bank of England would leave both the volume of bond purchases of ?895bn and the interest rate at 0.1% unchanged. And so it happened, no changes in monetary policy took place. But at the same time, in just a couple of hours the pound has strengthened sharply against the dollar, jumping up 135 points, from 1.3565 to 1.3700.
The whole point was not in the results of the meeting of the Bank, but in market expectations. The Bank's committee unanimously decided to leave key parameters of its policy unchanged. Some investors expected that a split in the ranks of the Committee would happen, and that a number of its members would support the introduction of negative rates. The split did not occur, the result of the vote was 9:0.
A negative rate, no doubt, would have led to a collapse of the pound, but the situation was saved by the optimism of officials regarding the growth of the UK economy. In their opinion, thanks to vaccination, the country's GDP will reach pre-COVID indicators during the current year, and the consumer price index will rise to 2% at the beginning of 2022.
The Bank of England's unanimous decision to abandon negative rates for the near future should encourage capital inflows into the country. And this was clearly demonstrated by the GBP/USD pair, which continued its growth on Friday February 05, and ended the weekly session at 1.3735;

- USD/JPY. The movement of this pair in most cases depends on what is happening not in Japan, but in the United States, on where the DXY dollar index, stock indices, as well as the yield of American state bonds are moving. This happened last week as well.
Back on January 27, the pair broke through the upper border of the medium-term descending channel, along which it had been descending since the end of last March and went up sharply. And although the overwhelming majority of oscillators and trend indicators on both ?4 and D1 indicated an uptrend, only 30% of experts voted for further growth among analysts. But it was their forecast that turned out to be absolutely accurate: at the high on Friday, February 05, the pair reached a height of 105.75, after which a correction followed and then a finish at 105.35;

- cryptocurrencies. We noted in our last review that the bulls are gaining strength again, forming another upward momentum in bitcoin. It also said that the main problem of the crypto market in 2021 will be regulators, whose goal is to take this segment under their maximum control.
Starting from the second half of 2020. institutional investors have become the main drivers of growth. In addition to specialized funds like Grayscale Investments and technology companies such as MicroStrategy, Harvard, Yale and Michigan universities have begun to acquire cryptocurrencies, using their endowment funds for this. Even conservative giants such as US government pension funds like CalPERS have been seen buying digital assets. However, due to regulatory issues, these institutions are acting very cautiously, investing in bitcoin, for now, very small amounts in their scale.
Recall that as soon as the BTC/USD pair renewed its all-time high on January 8, rising above $42,000, and the crypto market capitalization exceeded $1 trillion, the head of the European regulator Christine Lagarde immediately stated that this was a very speculative asset, which is used to conduct a rather "strange business" and money laundering activities. The new US Treasury Secretary Janet Yellen also joined her from across the ocean, according to her, "cryptocurrencies are of particular concern, and many of them are used to finance illegal activities." Both Lagarde and Yelen indicated that there is a need for serious regulation of this market. However, both kept silent about the main reason for such concern. Although, it is clear that governments are most concerned about the loss of their control over monetary resources.
Be that as it may, but after the statements of the President of the ECB and the US Treasury Secretary, the price of bitcoin fell below $30,000. However, by the end of January, the market came to its senses, and the main coin rate went up again.
On Friday evening, February 05, the BTC/USD pair is trading in the $38,000 zone, and the total capitalization of the crypto market hits highs, rising to the level of $1.16 trillion. As for the Crypto Fear & Greed Index, it reached 81, and although it is in the overbought zone, it is still far from the maximum values.
According to Glassnode specialists, the number of unique active BTC addresses reached 22.3 million in January. “This is the highest rate in the history of bitcoin to date,” analysts say. The January surge in activity beats the previous record of 21 million active addresses in December 2017.
BTC miners also showed indicators close to the record ones. Despite a 30% drop in the price of bitcoin, January was a very good month for this "strange business". Mining the main cryptocurrency brought them $1.1 billion (the maximum of $1.2 billion was recorded in December 2017). The production of Ethereum showed a record result of $0.83 billion, exceeding the figure of December 2020 by 120%.


As for the forecast for the coming week, summarizing the views 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. So far, the situation seems to be still in favor of the dollar. In anticipation of the explosive growth of the US economy, investors are ready to turn a blind eye to another increase in the country's national debt, which will follow the next package of economic stimuli. The yields on long-term treasuries are growing, and the spread between US and European bonds is growing, strengthening the dollar, and putting pressure on the European currency. Thus, the yield of 10-year American state bonds has already reached about 1.15%, and the growth potential has not yet been exhausted. Here you can also recall the statements of Christine Lagarde that the ECB is not at all against the weakening of the euro.
The above has led to the fact that 70% of experts, supported by 85% of oscillators, 70% of trend indicators and graphical analysis on D1, agreed that the dollar will continue to grow in the coming days, and the EUR/USD pair to fall. Support levels are 1.1950, 1.1885, 1.1800 and 1.1750. However, the situation is changing with the transition from weekly to monthly forecast and here it is already 60% of experts together with graphical analysis who are waiting for the pair to return to the zone 1.2200-1.2300. The target is the January high of 1.2350, the nearest resistance is 1.2175.
As for important economic events in the coming week, we can note data on consumer markets in Germany and the United States, which will be released on Wednesday February 10;

- GBP/USD. Will the market still be able to maintain its bullish optimism about the British currency for some time? 65% of analysts believe that at least briefly the pair will still succeed, breaking through the resistance of 1.3750, to rise to the height of 1.3800, and possibly 25-50 points higher. Graphical analysis, 85% of oscillators as well as 100% of trend indicators on H4 and D1 agree with this. However, 15% of oscillators are already giving clear signals about the pair being overbought.
The remaining 35% of experts consider the 1.3700-1.3750 zone as an insurmountable obstacle, according to them, having broken through the support at 1.3700, the pair will first go down 100 points and then reach the 1.3485-1.3500 zone.
Among the events to which attention should be paid, of interest are the speech of the head of the Bank of England, Andrew Bailey on Wednesday, February 10, and the publication of GDP data for the IV quarter of 2020 on Friday, February 12;

- USD/JPY. Most experts (70%) supported by graphical analysis on D1, 75% of oscillators and 80% of trend indicators, expect the pair to continue to grow at least up to 106.00-106.25 zone. The next goal is 107.00. The nearest resistance is 105.75.
The remaining 30% of analysts believe that the pair will return to the level of 104.00, and graphical analysis on H4 predicts an even greater drop, to the low of January 21, 103.30. Supports are at 104.75, 104.00 and 103.50 levels.

- cryptocurrencies. What is good, and what is bad.
The support of cryptocurrencies from large institutional investors is, of course, good. It can provide further growth for bitcoin. However, the fact that the crypto market now largely depends on the sentiments of this rather small group, and that, in turn, on the sentiments of government officials, is bad, and can lead to a collapse of the quotes. A clear example is the January drop in the BTC/USD pair by 30%.
However, government actions can not only put pressure on the crypto market, but also push it up. Thus, US President Joe Biden has confirmed his readiness for a new stimulus package for almost $2 trillion. And this is good, since with an almost 100% probability, some of these funds will flow to the digital asset market.
But, for example, is Chinese New Year good or bad? It is definitely good for people, a fun holiday, gifts, fireworks... But, according to a number of experts, on the eve of this joyful event, the value of bitcoin may fall again. Moreover, in this case, the price of the main coin is threatened not by the central banks, but small investors, who will begin to transfer their crypto assets to fiat for the purchase of New Year's gifts.
Currently, it is in China that the bulk of the owners of bitcoin wallets with savings of up to 10 thousand dollars are concentrated. And, according to the specialists of the investment company Stack Funds, “since it is customary to celebrate the New Year in China very splendidly, small investors will definitely begin to withdraw funds before the holidays. In addition, - they explain, “charts over the past few years show that it is in the run-up to the holidays that the capitalization of bitcoin is greatly reduced.” We do not have long to wait for either a confirmation or a refutation of this prediction: the New Year in China is this Friday, February 12, and the holidays will last from February 11 to 17.
Now about Ethereum. This leading altcoin continues to deliver impressive results. It has increased in price by 130% since the beginning of the year, and its increase was 448% in 2020. The main impact on such dynamics is the expectation of the launch of futures on it on the Chicago Mercantile Exchange (CME), which is scheduled for Monday, February 8.
The forecasts for this event are mixed. Optimists (and they are the majority) recall that the launch of bitcoin futures on the CME allowed this cryptocurrency to break the $20,000 mark at the end of 2017. Pessimists say that it was this event that marked the beginning of the crypto winter of 2018. So, the question of whether futures is good or bad remains open.
In December 2020, when the BTC/USD pair reached its previous high of $20,000 and ETH/USD was still very far from its similar mark, we noted a significant potential for the Ethereum growth. Now a similar situation is observed with another token, Litecoin, which we have not thought about for a long time.
This coin appeared in October 2011, becoming an early fork of bitcoin, from a technical point of view is almost identical to it. Litecoin's all-time high of $370 was recorded on December 19, 2017. Then crypto winter came and, a year later, the price of the coin dropped to $20, having lost almost 95% of its value. At the moment, the quotes of the LTC/USD pair are at the level of $155, which is more than twice below its historical maximum, which can lead to its growth. Moreover, Litecoin even surpasses the main cryptocurrency in some important parameters. So, for example, the transaction speed with it is four times higher than with bitcoin.


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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  #522  
Old 10-02-2021, 15:01
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CryptoNews


- Forbes compiled a list of the wealthiest representatives of business in the field of cryptocurrency, following the results of 2020. It is headed by the CEO of the Coinbase crypto-exchange Brian Armstrong with $6.5 billion, followed by the head of the FTX cryptocurrency exchange Sam Bankman-Freed with $4.5 billion and the co-founder of Ripple Chris Larsen - $2.9 billion.
The ranking also includes: the head of MicroStrategy Michael Saylor - $ 2 billion, CEO of the Binance exchange Changpeng "CZ" Zhao - $1.9 billion, the founders of the Gemini exchange, the Winklevoss brothers - $1.6 billion each, founder of the venture capital company Digital Currency Group Barry Silbert - $1.5 billion , co-founder and former CTO of Ripple Jed McCaleb - $1.4 billion, venture capitalist Tim Draper - $1.1 billion and co-founder of blockchain startup Bloq Matthew Roszak - $1 billion.
When preparing the rating, the Forbes magazine took into account not only the value of the digital assets of the persons involved, but also their traditional assets, including the shares of various companies.

- According to Reuters, the German prosecutor's office is unable to access a wallet with more than 1,700 bitcoins with a total value of about $75 million. The account holder, who was found to be a fraud, refuses to testify against himself and provide access keys. Currently, law enforcement officers are looking for ways to "get close" to these assets through exchanges and wallet operators in order to return them to the victims of the criminal.
The fraudster was sentenced to two years in prison for installing phishing software on third-party computers, with which he deducted funds from the victims' accounts and transferred them to his own wallet. The prosecutor explained that the offender was offered mitigation of punishment if he provided data on the whereabouts of the coins, but he refused. The size of the criminal's assets has significantly increased against the background of the latest bitcoin rally, and it is possible that he is going to use them after his release.

- American children's charity Songs of Love created Superhero Billy Bitcoin to boost interest in their work. Crypto donations to such non-profit organizations in the United States are tax-free. “Donating in a cryptocurrency like bitcoin is even more efficient than cash. You don't have to pay capital gains tax and can deduct that amount from your taxes,” said Songs of Love. The fund accepts donations in 22 digital assets, and the Superhero Billy Bitcoin is dedicated to supporting children with serious illnesses.

- The price of bitcoin could rise to $100,000 as early as the end of 2021 if other companies follow Tesla's lead, the founder of cryptobank Galaxy Digital Mike Novogratz said in an interview to Bloomberg . Elon Musk's company announced the investment of $1.5 billion in Bitcoin on Monday, February 8. Tesla admitted that in the future they will integrate the first cryptocurrency as a means of payment for their products.
Novogratz called Elon Musk a genius in his decision to listen to people and evaluate the interests of young people. According to the billionaire, other companies will invest in the first cryptocurrency to hedge inflation risks. “You'll see that every company in America will soon start doing the same,” stated Mike Novogratz.

- Due to the shortage of discrete graphics cards in the market, gaming laptops have become popular among Chinese Ethereum miners. As calculated by the Techarp portal, the payback period for such a computer costing from $1000 is approximately three and a half months.
One laptop with a RTX 3060 video card is able to get 0.00053 ETH ($0.92 at the moment) within two hours. That is, the mining will amount to 2.3 ETH (over $4000) for the year, and a farm of 20 laptops at current prices and taking into account the cost of electricity in China will bring more than $76,800 in profit.

- North Korea has been able to upgrade its nuclear weapons and ballistic missiles by using funds stolen in cyberattacks, to finance. According to the Associated Press citing UN experts, these attacks mainly targeted financial institutions and cryptocurrency platforms, and the total amount of the digital assets stolen in the period from 2019 to November 2020 is more than $316 million. Experts say North Korea continues to launder cryptocurrencies stolen by its hackers mostly through Chinese over-the-counter platforms.

- The authorities arrested a 37-year-old Wisconsin resident on charges of attempting to arrange a bespoke homicide. This is stated in the message of the US Department of Justice. The woman found the killer on the darknet, offering to pay for his "work" in cryptocurrency, and provided him with a phone number, place of work and a description of the alleged victim.
Journalists of one of the media learned about the upcoming crime while working on material about transactions in the darknet. They found evidence of a Bitcoin transaction, as well as a screenshot of a wallet with $5,633 in cryptocurrency, after which the reporters contacted the law enforcement. Now the alleged customer faces up to 10 years in prison.

- One of Mexico's richest people (the fortune of $11.7 billion) and founder of Grupo Salinas group of companies Ricardo Salinas Pliego added a Bitcoin hashtag to his Twitter account description. Recall that the founder of Tesla and SpaceX Elon Musk did the same in January, after which the asset rose to $38,000.
Earlier Pliego admitted in a Cointelegraph commentary that he first bought digital gold in 2013. He sold the asset at $17,000 during a bull rally in 2017 and called the bitcoin “the best investment of all time.”

- Specialists of financial and investment company Guggenheim Partners said that the value of bitcoin could reach $600,000. According to the company's investment director, Scott Minerd, everything will depend on the number of coins in the public domain. “Cryptocurrency can rise to very high values. It is possible that we are talking about 400 or even $600,000 per coin. We have been studying the asset for almost ten years, so we understand how it will behave. Bitcoin used to be unjustified for institutional investors, but now everything has changed,” Minerd said.
According to the specialist, the concern is caused by the rapid growth of the asset in the past few weeks. It is possible that we are talking about speculation, in which institutional investors capable of large investments to manage the value of the coin are involved. At present, bitcoin is in a difficult situation, as the departure of large investors will lead to a return of the negative trend. According to Minerd, such a development is unlikely, but it should definitely be taken into account.


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  #523  
Old 14-02-2021, 14:45
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Forex Forecast and Cryptocurrencies Forecast for February 15 - 19, 2021


First, a review of last week’s events:

- EUR/USD. It often happens that monthly forecasts come true faster than weekly ones. That was what happened this time as well. Recall that only 30% of experts expected the EUR/USD pair to grow in the weekly perspective. In the transition to the monthly forecast, those were in majority already, 60%.
We started talking about the paradoxes of the relationship between stock indices and the dollar seven days ago. With the outbreak of the pandemic at the end of last February, an inverse correlation was clearly visible between them: thanks to fiscal stimulus (QE), lower interest rates and pumping the US economy with cheap money, the S&P500, Dow Jones and Nasdaq stock indices went up, and the DXY dollar index - way down. And that was logical.
And here came 2021, and everything turned upside down. Against the backdrop of good economic data and expectations of a new injection of financial "vaccine" for almost $2 trillion, the growth of risk sentiment and stock indices continued. But in parallel, the yield of long-term US Treasury bonds and the dollar grew.
But the surprises with overturns did not end there. Based on the same fiscal incentives and rapid vaccination in the United States, Wall Street Journal experts are raising their forecasts for US GDP for 2021 from 4.3% to 4.9%. In Europe, the opposite is true: there are a lot of delays with vaccination, the EU countries, one after another, are tightening anti-covid measures once again, there is no end in sight to lockdowns. As a result, the European Commission lowers its forecast for the Eurozone economy to 3.9%. But at the same time, the euro is growing, and the American currency is falling.
According to a number of experts, it's all about the long-term policy of the US Fed, which is not going to wind down the QE program until the end of 2021 and will not raise interest rates on the dollar earlier than 2023. This should lead to the recovery of not only the American but also the global economy, including the EU, making the euro a reasonably attractive currency for some, primarily Chinese, investors. China's interests in Europe are great, and appetites are constantly growing, which supports the demand for a pan-European currency.
As a result, having started at 1.2050, the EUR/USD pair rose by 100 pips and reached a weekly high at 1.2150 on Thursday, February 11. This was followed by a correction and a finish at 1.2120;

- GBP/USD. The released macro statistics looks quite contradictory. Due to the coronavirus pandemic, investment cuts and Brexit problems, UK GDP contracted 9.9% which is a record drop in more than 300 years. At the same time, monthly and quarterly GDP were better than expectations. GDP growth in Q4 2020 amounted to +1%. Industrial production figures were lower than forecasted, but the trade balance report pleased investors.
Solid monetary policy of the Bank of England, positive interest rate, and the first in Europe and third in the world (after Israel and the UAE) in terms of vaccination rates also played on the side of the pound. At the time of writing this review, 20.67% of the country's population was already vaccinated (the figure in the USA is 14.02%).
Recall that the majority of analysts (65%) also sided with the British currency. The main forecast assumed that the pair would succeed, having broken through the resistance at 1.3750, to rise to the height of 1.3800, and possibly 25-50 points higher. And so it all happened: the high of the week was fixed at 1.3865, and the last chord of the GBP/USD pair set at 1.3850.

- USD/JPY. The movement of this pair in most cases depends on what is happening not in Japan, but in the United States, on where stock indices, as well as the yield of American state bonds and the DXY dollar index are moving. This happened last week as well.
DXY climbed to 91.21, USD/JPY grew to 105.66 on February 8. On February 10, the dollar index dropped to 90.26, followed by a bottom at 104.40. On February 12, we see an increase in the DXY to 90.71 and an increase in USD/JPY to 105.17, then a slight drop: in the index to 90.39, in the pair to 104.95. So, if anyone wants to try the DXY as a leading indicator for this pair, they can try it;

- cryptocurrencies. At the end of 2020, Forbes compiled a list of the wealthiest representatives of the cryptocurrency business with capitals of over $1 billion. The top three included Coinbase CEO Brian Armstrong with $6.5 billion, FTX head Sam Bankman-Fried with $4.5 billion and Ripple co-founder Chris Larsen with $2.9 billion. In total, Forbes counted 11 billionaires, although, given the rise in the price of digital assets in January-February, there may have already been more of them. Suffice it to say that the total cryptocurrency market capitalization increased by 87% in less than a month and a half in 2021, from $776 billion to $1,452 billion.
The past week was one of the most successful this year. The rally began with the news that Tesla bought $1.5 billion of bitcoins. At the same time, its head, Elon Musk, said that he plans to sell cars of this brand for cryptocurrency in the near future. Bitcoin went up in price by 23% on this news, on February 8.
But this did not end there. Global payments giant MasterCard has announced that it plans to provide merchants with the ability to receive payments in cryptocurrency starting later this year. As a result, bitcoin once again renewed all-time highs, reaching $48,930 in the afternoon of Friday, February 12. The capitalization of BTC has risen to $885 billion at the moment and exceeded the volume of the money supply of such a large country as Russia, for the first time.
The Crypto Fear & Greed Index has reached 92 (it was 81 a week ago) and is in the overbought zone. At the same time, the BTC Dominance Index has decreased from 70.36% to 61.06% since the year started. But, according to many experts, this does not indicate a deterioration in investor attitudes towards bitcoin, but an improvement in their attitude towards altcoins.
So, the Chicago Mercantile Exchange (CME) launched trading in Ethereum futures on Monday, February 08. The turnover reached $30 million on the very first day, and the open interest - $ 20 million, which indicates the stable interest of investors in this token. The capitalization of ETH has increased by 32% since the year started and amounts to more than $203 billion as of February 12.
Another top coin that we have already paid attention to in the previous review is Litecoin. Over the past three months, aggregate open interest in LTC futures has grown by 285% to $584 million. And, although the share of Litecoin in the total cryptocurrency market capitalization is quite small (8th place with 0.85%), it now occupies an honorable 3rd place among derivatives after bitcoin and Ethereum.


As for the forecast for the coming week, summarizing the views 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. Throughout the coming week, China is celebrating the New Year, which will cause a significant portion of trade volumes to leave the global markets. However, this does not at all promise a calm or a decrease in volatility. Although right now, investors are at a crossroads. US stock indices, after a powerful upward leap in January, have gradually moved to consolidation and look overbought. No surprises are expected from the Fed any time soon, and the report of the Open Market Committee meeting on Thursday February 18 is likely to be boring enough. On the same day, the report on the ECB meeting on monetary policy will be released, but it will be highly likely filled mostly with general streamlined phrases. Therefore, the main drivers for the EUR/USD pair will again be news about the successes in the fight against the Covid-19 pandemic on both sides of the Atlantic Ocean.
As for experts, 60% of them, together with graphical analysis for H4 and D1, expect the pair to decline, at least, to support 1.2050. In case of a breakout, the next target for the bears will be the February 05 low at 1.1950. The nearest support is in the 1.2100 zone.
40% of analysts adhere to the opposite scenario. However, when moving from weekly to monthly forecast, the number of bulls' supporters increases to 60%. 85% of trend indicators on H4 and D1 are also painted green. But the readings of the oscillators on both timeframes cannot be analyzed: there is complete chaos of red, green and neutral gray colors there. The nearest resistance level is 1.2150. The bulls' targets are first a return of the pair to the 1.2200-1.2300 zone, and then the January high at 1.2350.
As for the economic calendar of the week, in addition to the already mentioned meetings of the Fed and the ECB, we are waiting for: on Tuesday, February 16 - data on GDP of the Eurozone, on Wednesday, February 17 - data on retail sales in the United States (a noticeable increase from -0.7% to + 0.7% is expected), and at the end of the working week, on Friday, February 19, statistics on business activity of Markit in Germany and the EU will be published (here, although not so noticeable, but still growth is predicted);

- GBP/USD. A quarterly GDP growth of 1% means that the country has every chance of getting out of the recession. The high rates of vaccination will also contribute to this (although there are concerns about new strains of coronavirus). Prime Minister Boris Johnson plans to unveil a plan to exit the quarantine towards the end of the month, or rather February 22, which should clarify the prospects for the recovery of the UK economy.
In the meantime, analysts' votes have been distributed as follows: the pound has reached 34-month highs, and 45% of experts believe that it would be time for it to stop and play back a little down. 20% vote for the continued growth of the pair, while the remaining 35% take a neutral position. 100% of trend indicators and 75% of oscillators on H4 and D1, together with graphical analysis on H4, point north, targets are 1.3900 and 1.3950. The remaining 25% of the oscillators give signals that the pair is overbought.
As for the graphical analysis on D1, it shows a rebound from the resistance of 1.3865 and the decline first to support in the zone 1.3700, then 1.3630 and 1.3575.
As for economic statistics, one should pay attention to data on the UK consumer market, which will be released on Wednesday February 17, and business activity in the service sector on Friday February 19;

- USD/JPY. Graphical analysis on D1 predicts the movement of the pair in the channel along the Pivot Point 104.85 during the month. Moreover, it will first rise to the upper border of the channel at 105.75, and then descend to its lower border at 104.40. On H4, the oscillation amplitude is naturally less, from 104.85 to 105.30.
Apart from the green colored 75% of the trend indicators on D1, the readings of the other indicators and oscillators look quite confusing. It is also difficult to draw any conclusions from the opinions of experts, who are divided almost equally: 40% for the growth of the pair, 30% for its fall and the same amount for the sideways movement.
The GDP data for the IV quarter of 2020, which the Japanese Cabinet of Ministers will publish on Monday February 15, may somehow influence the formation of the short-term trend of the USD/JPY pair, especially if this indicator differs greatly from the forecasted +2.3%;

- cryptocurrencies. We wrote about bitcoin's readiness to storm the $50,000 high two weeks ago. And its rise to $48,930 on February 12 is a clear confirmation of the correctness of this forecast, which is supported by 80% of experts in a monthly perspective.
The growth of bitcoin and other top coins pulls up the entire crypto market. Its members look forward to following the example of Tesla and MasterCard and other S& P500 companies listed on the NYSE to announce their readiness to work with digital assets. As, for example, did the Bank of New York Mellon, which said it would allow digital currencies to pass through the same financial network that it uses for traditional financial assets.
The fact that every company in America will soon follow the example of Tesla, was mentioned by the founder of the crypto bank Galaxy Digital Mike Novogratz in an interview with Bloomberg. According to the billionaire, this will help bitcoin grow to $100,000 by the end of this year.
In the longer term, the BTC/USD pair may rise even to $600,000. At least, this is the opinion of specialists of the financial and investment company Guggenheim Partners. According to the company's investment director, Scott Minerd, everything will depend on the number of coins in the public domain. “Cryptocurrency can rise to very high values. It is possible that we are talking about 400 or even $600,000 per coin... Bitcoin used to be unjustified for institutional investors, but now everything has changed,” Minerd said.
According to the specialist, the concern is caused by the rapid growth of the asset in the past few weeks. It is possible that we are talking about speculation in which institutional investors are involved, capable to manage the value of the coin with the help of large investments. So far, bitcoin is in a difficult situation, as the departure of large depositors will lead to a return of the negative trend. This development of events is unlikely, says the director of Guggenheim Partners, but it should definitely be taken into account.


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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  #524  
Old 17-02-2021, 14:18
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CryptoNews


- Kiss bassist Gene Simmons invested a seven-figure sum in bitcoin. According to him, he bought the cryptocurrency several months ago at a time when it was almost twice as cheap as it is now. Simmons did not name the exact amount of the investment but noted that he had already managed to seriously increase his capital.
“Many people wonder if I believe in a further growth in the value of bitcoin. Of course, I do. Otherwise, I would not have spent money on a dubious asset. The future has already arrived, and new tools for earning and storing savings are appearing in our lives,” Simmons explained.

- Lisa Edwards, sister of self-proclaimed bitcoin creator Craig Wright, predicted that the first cryptocurrency would rise to $142,000. Based on Elliott Wave Theory, she suggested that digital gold would rise to $90,000 by May 2021, decline to $55,000 by January 2022, and skyrocketing to $142,000 in March 2023. After that, according to Edwards, the cryptocurrency market expects a bearish trend.
“Satoshi Nakamoto did not consider supply and demand. In a closed market with high demand and limited supply, the price can increase in large leaps, leading to significant increases in short periods,” she wrote.

- As the CoinDesk publication reports, the income of bitcoin miners over the past week reached a new maximum of $354 million against the background of the movement of the first cryptocurrency to the $50,000 mark. The previous record figure in seven days was $340 million and was recorded in December 2017.

- BNY Mellon, the oldest bank in the United States, announced the start of work with bitcoin and other digital assets through the launch of a new cryptocurrency storage service. According to CNBC, the bank will allow cryptocurrencies to pass through the same financial network that it currently uses for traditional assets like treasuries and stocks.
Roman Regelman, head of digital at BNY Mellon, said the financial institution is proud to be the first global bank to announce plans to provide integrated services for crypto assets. He noted that the bank will be able to start offering these services to clients this year.

- Another major US bank, JPMorgan Chase is ready to support bitcoin trading if clients are interested in it, announced the bank's co-president and chief operating officer Daniel Pinto. “If, over time, an asset class develops that will be used by various managers and investors, we will have to get involved,” he told CNBC. "There is no demand yet, but I'm sure it will appear at some point."
It became known that JPMorgan Chase organized a virtual meeting in January with the participation of thousands of traders and sales professionals from different parts of the world, during which it inquired about their interest in trading BTC.
Last week, according to CNBC, another bank, Goldman Sachs, convened a closed forum for employees and clients with the participation of Galaxy Digital CEO Mike Novogratz, where he spoke about bitcoin, Ethereum and other digital assets.

- The owner of the Vietnamese Internet cafe Star Computer has redesigned the business to mine Ethereum. The idea came to the entrepreneur after the number of visitors to the computer club dropped markedly due to restrictions associated with the COVID-19 pandemic. “I am changing the business model: the profit is higher than from the main activity,” he announced.

- Bloomberg said that the founder of Telegram Pavel Durov bought $750 worth of bitcoins about four years ago. According to the publication, after the sale of a stake in the social network VKontakte he founded, the entrepreneur left Russia, owning $300 million and 2,000 BTC. At the moment, the cost of his initial investment in the leading cryptocurrency has reached $100 million.

- Another piece of news regarding Telegram. Telecommunications company T-Mobile has become a defendant in the lawsuit. California resident Calvin Cheng has filed a lawsuit in New York City after losing $450,000 as a result of SIM swapping - an account hack through SIM swapping.
According to Cheng, he acquired the cryptocurrency by negotiating via the Telegram messenger and using a crypto exchange operated by Iterative Capital. A few months later, in May 2020, he received a message, also via Telegram, from the phone number of Iterative Capital co-founder Brandon Buchanan. He offered a higher price for 15 bitcoins. Cheng transferred the cryptocurrency to the specified wallet, but the money for bitcoins never arrived. A few days later, Buchanan notified customers that his accounts had been hacked using SIM swapping.
The co-founder of Iterative Capital used the services of T-Mobile, and Cheng believes that the company violated obligations to protect the personal and financial information of customers, and, in addition, was negligent in hiring and training support staff, and therefore it is obliged to reimburse him for the losses incurred.

- UK police, with the support of Europol, have arrested eight suspects in SIM card fraud. According to law enforcement officers, fraudsters have stolen money and crypto assets worth $100 million. The attacks were carried out throughout 2020 from the UK, and the victims of the scammers living in the United States were "famous influencers, sports stars, musicians and their families."
Fraudsters uploaded identification information from SIM cards of victims' phones to their cards, thus gaining control over their crypto wallets and bank accounts.

- It became known that the Mayor of Miami (USA) Francis Suarez has already taken a number of steps to legalize cryptocurrency as an investment and payment instrument. “We have made bitcoin an available currency for potential investors. In addition, employees can receive salaries in cryptocurrency, which is a huge step forward,” he wrote on Twitter.
New York Mayor and former presidential candidate Andrew Young and Reno, Nevada Mayor Hillary Shiv supported Suarez's decision. And Andrew Young said that he would try to make the financial centre of the world become a centre for cryptocurrencies.
According to a number of experts, such steps and statements by US politicians and officials have a positive impact on the price of bitcoin and other cryptocurrencies.


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  #525  
Old 19-02-2021, 08:18
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Forex Trend Indicators: Destination, Features, Varieties


Finding patterns, repeatability and historical cyclicality is one of the main tasks of a trader. Some use graphic patterns to look for the silhouettes of geometric shapes. Some study the characteristic price movements: acceleration, braking, and interaction with graphic objects. However, there is a huge category of traders who are engaged in technical analysis of Forex using indicators. They allow you to predict the market, study its various characteristics and use these patterns in your own trading. Even beginners who have just heard about the existence of technical analysis will be able to analyze the market with their help.

One of the largest categories of the entire variety of instruments is Forex trend indicators. They are based on a simple pattern of price movement, namely, the tendency to trend movements. A trend is a forward movement of the price up or down, in which the rewriting of extremes is characteristic. It is formed under the influence of majority positions in the market when there is a prolonged imbalance between buyers and sellers.

By identifying a trend, you shift the likelihood of success of the trade to your own direction. We will tell you in this article what Forex trend indicators are used for, what you should pay attention to when working with them, and what place they can take in the trading system.

Purpose and Methods of Using Trend Indicators

The overwhelming majority of books on technical analysis are based on the fact that the trend is the basis around which strategies are built. You should always stick to its direction and open trades in its direction. A trader must be able to identify it and build trading in its direction. However, it is difficult to determine it in a timely manner and without errors.

This is due to market noise, which blur the overall picture of what is happening. Trend indicators were created to combat it, that, depending on the formula embedded in them, average the price or in other ways indicate the global price movement, helping to determine the direction of future transactions.

Most often, their use is reduced to the filter function in the strategy, when the signals from the oscillator are matched with a global trend. For example, it can be a bundle of EMA and Stochastic, RSI, any other indicators of building channels and levels can be used. If they match in their readings, a trade is opened, and in case of a discrepancy, a trade should not be opened.

In addition to the filter, they can give signals to enter the market. This could be both a change in global and short-term trends. One way or another, indicators of this type can be a source of data for opening future positions by a trader.

In some cases, trend indicators can also be used to set Stop Loss. A prime example is setting a stop order under EMA, where the indicator line is the main pointer to limit risk.

Three Main Trend Indicators

Technical Analysis is world famous for its range of instruments around the world. A huge number of custom developments allows you to create a wide variety of trading systems. As mentioned above, a trader can take any trend-type instrument as a basis and attach an RSI indicator or any other oscillator to it. As a result, you get a balanced basis for developing a trading strategy.

The following TOP-3 trend indicators on Forex can be distinguished among all the tools that the MetaTrader terminal allows you to use. This is Moving Average, MACD, Bollinger Bands. They are present by default in all existing terminals and are considered standard. By the way, NordFX broker allows you to work with them through the MT4 terminal, which can be installed not only on a computer, but even on your mobile phone.

Moving Average Review

The Moving Average indicator is a classic trend indicator that draws a price line on a chart by averaging its value over a specified number of candles. SMA is considered a basic tool for technical analysis. First, it is a medium-arithmetic value, easy to calculate, and therefore was created one of the first. Secondly, many modifications and other indicators have been created on its basis. Thirdly, a trader can implement absolutely any strategy on its basis (Fig. 1).



There are several types of moving averages:

1. Simple moving average (SMA);
2. Exponential Moving Average (EMA);
3. Weighted moving average (WMA).

It is difficult to see the difference between them at a first glance. The fact is that they differ in the type of price averaging, which entails some differences in sensitivity and lag. The last one on the list is the slowest and roughest of market noise. EMA is on the contrary the fastest and is more commonly used in practice.

The line you see on your chart can generate the following signals:

1. Crossing of the line and the price;
2. Crossing of the moving average lines between each other;
3. Average with a large period as a line of support and resistance.

We also want to pay attention to the angles of inclination and the position of price relative to the line. If it is above the line, the current trend is upward, if it is below the line, it is downward. It is worth reminding once again that in strategies Moving Average is almost always used in tandem with oscillators: Stochastic, RSI and others, which help to determine the beginning, continuation or end of the current trend.

A simple example of how the Stochastic indicator exits the overbought zone confirms a downtrend in the SMA and gives a command to open a sell trade is shown in Figure 2 below:



MACD Overview

This indicator is sometimes mistakenly considered an oscillator. This is not the case, because it is based on price averaging. The MACD algorithm is based on the convergence and divergence of two Moving Averages, and the histogram shows the distance between them. So MACD, unlike Stochastic or RSI, is not a stochastic oscillator, but a classic trend indicator (Fig. 3).



It is a huge source of signals, as it is able to find short-term and medium-term changes of the trend, generate signals to change the global trend. Its most formidable weapon is divergence. It has become a common signal for a huge number of Forex indicators.

Divergence is a reversal type of signal that is formed due to the mismatch of the extremes of the instrument with the real price. Simply put, if the price curve is still going down, and the indicator curve has already turned upstairs, this is a strong signal that the trend reversal should soon be expected. Thus, MACD, like other reversal indicators, is able not to post facto, but to warn in advance about fractures in price movements. The example is given in Figure 4:



You can see divisions above and below the 0.00 mark on the histogram. At moments when the graph crosses this zero line, a global trend change is fixed. It is clear that if the intersection occurs from bottom up, then the trend has changed from downward to rising. Accordingly, at the reverse level crossing, the trend changes from ascending to descending.

Also note how the MACD histogram interacts with the signal red dotted line. Their intersection generates a signal of a short-term change in the price movement and helps to determine the moment for opening orders either for buy or sell (Fig. 5).



Some Forex traders use this indicator not only together with other technical analysis tools, but also on their own. This is explained by the strength and accuracy of the MACD signals, especially if divergence occurs on the chart.

Bollinger Bands Review

Bollinger Bands round out the top three Forex trend indicators. They are an ordinary moving average, at a distance from which a trading range is built. It is interesting that this indicator is able to find and give the trader information not only about the direction of the trend, but also about the market volatility, as well as give signals to pull back from the boundaries of the range (Fig. 6).



Bollinger Bands demonstrate the strength and potential of the trend with its range. When the channel narrows, a transition from trend to flat or accumulation stage should be expected. Expansion, on the other hand, indicates an increase in volatility and trend activity. Trading can be based on the interaction of the indicator lines and the price, which can bounce back from them, break them or test them. This allows you to trade either on the break, or on the breakdown of the range. Both options will be correct. An example of how the Relative Strength Index indicator works in tandem with Bollinger Bands to rebound from the range boundaries can be seen in Fig. 7:



Strengths and Weaknesses

The strong point of trend indicators is the ability to cut off minor price fluctuations and identify the main trend of its movement. Фlmost all trend instruments use the averaging algorithm to combat market noise. On the one hand, it frees you from noise, makes the market picture clearer and more understandable. On the other side of the scale is the signal delay. Moreover, the more noise the indicator cuts off, the more delayed its signals.

It should also be borne in mind that signals such as, for example, divergence, can occur quite rarely. Therefore, having missed one such signal, you can wait a long time for the next one to appear. Especially if you trade on large time frames.

However, the usefulness and effectiveness of Forex trend indicators is beyond doubt. They allow not to be mistaken with the global direction of the price, due to which they are able to become the basis of a high-quality trading strategy and bring stable profits both in manual trading and in automatic trading with the help of robot advisors.


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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  #526  
Old 21-02-2021, 14:00
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Forex Forecast and Cryptocurrencies Forecast for February 22 - 26, 2021


First, a review of last week’s events:

- EUR/USD. The sharp rise in bond yields in the US and Europe has hit not only the stock market, but also the “carry trade”, providing support to funding currencies, primarily the euro and the US dollar. Recall that the funding currency is usually a currency with a low interest rate. Implementing the carry trade strategy, traders borrow it and then deposit it in another currency, such as developing countries, with a higher rate. And now the fall in risk sentiment has led to an exit from such deals, and the strengthening of both EUR and USD. Apparently, this can explain the consolidation of this pair. And if the preponderance was on the side of the dollar in the first half of the week, then, investors began to buy up the cheaper euro starting from Wednesday, February 17. As a result, having started the week at the level of 1.2120, the EUR/USD pair ended it almost there, at the level of 1.2115;

- GBP/USD. The pound continues to push north, approaching the 2018 highs. The pair broke through the psychologically important level of 1.4000 on Friday, February 19, recording a weekly high at the height of 1.4035. It completed the trading session at the same level 1.4000, after a slight rebound.
The American currency lost to the British one amid weak data from the US labor market. Investors expected a decrease in the number of initial applications for unemployment benefits from 848 thousand to 765 thousand, while, on the contrary, it rose to 861 thousand over the week. The number of secondary applications was not encouraging either, it decreased from 4.558 million to 4.494 million, instead of the forecasted 4.413 million. Investors were fast to recall the statements of the FRS officials that it would take more than one year to return the labor market to the previous levels, and that it was necessary to take new measures to support the US economy.
But the data on the consumer market and business activity, released in the UK last week, looked pretty good. The Markit index in February was at 49.7 against 39.5, only slightly short of 50, the threshold that separates growth in economic activity from its fall. These figures have once again strengthened the confidence of buyers of the British currency that the Bank of England will refrain from allocating new funds under QE and from cutting the interest rate. As a result, the GBP/USD pair went further up, taking the next important milestone - 1.4000;

- USD/JPY. The main trends of this pair, as well as EUR/USD, were determined last week by disappointing data from the US labor market and a sharp rise in government bond yields. The Japanese GDP data released on Monday 15 February, although was significantly better than the forecast (3.0% versus 2.3%), had no effect on market sentiment, once again showing that the rate of this pair is being formed in the USA.
Recall that the opinions of experts last week were divided almost equally: 40% supported the growth of the pair, 30% were for its fall and as much for lateral movement. And, in general, everyone turned out to be right. The pair grew for the first half of the week, reaching a height of 106.20, then it fell, and the finish of the five-day period took place near the place where it had already started on February 08 - at 105.40;

- cryptocurrencies. As we predicted, bitcoin has hit the $50,000 bar and is quoted at $55,000 at the time of writing. Starting from February 01, the main cryptocurrency added about 60% in weight, the growth of Ethereum (ETH/USD) amounted to a little less than 50%, the leader in this three was Litecoin (LTC/USD) with 80%.
In general, the situation for the digital market is quite positive. Even conservative structures such as American banks have turned their views in its direction. The oldest US bank, BNY Mellon, has announced the start of work with bitcoin and other digital assets. Another major US bank, JPMorgan Chase, is also ready to support bitcoin trading. It became known that JPMorgan Chase organized a virtual meeting in January with the participation of thousands of traders and sales professionals from different parts of the world, during which it inquired about their interest in trading BTC. And last week, another bank, Goldman Sachs, held a closed forum for employees and customers on the topic of cryptocurrencies, at which the speaker was Mike Novogratz, CEO of Galaxy Digital.
The statements of a number of US politicians and officials also have a positive impact on the price of digital assets. For example, Miami Mayor Francis Suarez announced that he had already taken a number of steps to legalize cryptocurrency. “We have made bitcoin an available currency for potential investors. In addition, employees can receive salaries in cryptocurrency, which is a huge step forward,” he wrote on Twitter. Candidate for mayor of New York and former candidate for US President Andrew Young supported his colleague, saying that he will try to make the financial center of the world become a center for cryptocurrencies as well. And St. Louis Fed chief James Bullard called bitcoin a rival for gold.
Institutional investors continue to buy both cryptocurrencies and shares of miners and crypto funds. So, the Grayscale Investments fund added 20,000 ETH to its Ethereum portfolio last week, bringing its volume to $6 billion. Another impetus for the growth of the BTC/USD pair was MicroStrategy's decision to raise another $900 million to buy bitcoins.
Overall, the supply / demand ratio remains in favor of bitcoin: 150,000 BTC coins were mined and almost 360,000 were bought back over the last five months of 2020, and investors hope that this balance will continue in the future.
At the same time, buyers look at the head of Tesla Elon Musk, whose tweets alone push the quotes sharply upward. However, the US Securities and Exchange Commission (SEC) is now interested in his "creativity" on Twitter, considering that the billionaire's calls to buy digital assets fall under the law on the offer and advertising of securities and can be regarded as unregistered brokerage activities and attempts to manipulate the market. If proven, Elon Musk could face huge fines. In the meantime, the entrepreneur said that he was taking a break and would no longer post tweets, at least in the near future.
As for the total cryptocurrency market capitalization, even without Musk's tweets, it grew over the week from $1,458 billion to $1,625 billion. And the Crypto Fear & Greed Index is slowly but inexorably approaching its maximum value of 100 points. It has now reached 93, which indicates a strong overheating of the market.


As for the forecast for the coming week, summarizing the views 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 European Union is still under blockade of restrictions due to the COVID-19 pandemic. But in the United States, not everything is as rosy as expected. Weak data on the labor market, the growth of initial applications for unemployment benefits put pressure on the dollar.
It can be understood from the statements of ECB executives that even if bond yields in Europe continue to rise, the bank is unlikely to increase the volume of the quantitative easing (QE) programme. Officials from the Governing Council of the ECB believe that the measures they have taken are quite sufficient, it just takes some time for them to have the maximum positive effect.
The situation is exactly the opposite on the other side of the Atlantic Ocean. Judging by Treasury Secretary Janet Yellen's appeals to the US Congress and the Federal Reserve minutes published on February 18, QE volumes will continue to increase. The soft monetary policy will continue until the economy of this country shows steady growth. The next measure will be the adoption of another stimulus package worth $1.9 trillion.
In such a situation it is logical to expect a weakening of the dollar in the medium term, and the rise of the EUR/USD pair first to the zone of 1.2200-1.2300, and then return to the January high of 1.2350. 65% of analysts agree with this scenario. But as for the weekly forecast, the picture is different.
The majority (70%) of experts believe that the pair should retest the support in the 1.2020 zone in the near future and try to reach the February 05 low of 1.1955. This bearish development is supported by 15% of the oscillators on H4 and D1, which give signals that the pair is overbought.
The rest of the oscillators, as well as 75% of the trend indicators, are colored green. But graphical analysis on both time frames draws consolidation in the range 1.2020-1.2155.
As for the events of the week, here the speeches of the head of the ECB Christine Lagarde on Monday 22 February and the head of the Federal Reserve Jerome Powell in the US Congress on Wednesday 24 February are of interest, as well as annual data on GDP and the volume of orders for capital and durable goods in the United States to be published on Thursday 25 February;

- GBP/USD. It is clear that 100% of the trend indicators and 85% of oscillators on H4 and D1 point north. The remaining 15% of the oscillators give signals that the pair is overbought. The overwhelming majority of analysts (75%) are also awaiting a correction to the south. True, in their opinion, this may not happen in the coming week, but in the first half of March. Support levels are 1.3950, 1.3850, 1.3775, 1.3600.
The potential for British currency growth has not yet been exhausted so far. And everything will depend on whose structural problems, the US or the UK, will put more pressure on their national currencies. This refers not only to quantitative easing and interest rates, but also the issue and yield of government securities, as well as the risk of high inflation due to excessively high budget spending.
We outlined in the first part of the review how the data from the US labor market affected the pair's behavior. Similar macro statistics on the UK labour market are expected to be released in the coming week, on Tuesday 23 February. And if it looks quite optimistic, you can expect the continuation of the uptrend of the GBP/USD pair. Other events include a speech by the British Prime Minister the day before. Although, most likely, Boris Johnson will do without much specifics, and will enthusiastically talk about the successes of his Cabinet in the fight against the pandemic, the record pace of vaccinations, and how relations with the EU are developing after Brexit;

- USD/JPY ... 104.40-105.40 is the zone that the pair has visited many times over the past 30 weeks. This allows us to speak of it as the Pivot Point of the medium-term sideways channel 102.60-107.00. By the way, the maximum trading range of 440 points on the semi-annual segment is actually not so great. In October, for example, the pair made 240-point throws in just one day.
At the moment, only 35% of experts believe that the pair has not yet completed its movement to the upper border of this trading range. True, 75% of oscillators and 80% of trend indicators on D1 are on their side, which gives additional weight to this forecast. Resistance levels are 105.70, 106.20, the target is 107.00.
The opposite view is held by 65% of analysts, with the number rising to 80% when moving from a weekly to a monthly forecast. They have a similar number of indicators on their side, on H4 this time. Support levels are 105.00, 104.40, 103.60, the target is 102.60.
Graphical analysis shows fluctuations of the pair in the trading range 104.40-106.20 with a predominance of bearish sentiment.

- cryptocurrencies. As bitcoin prices grow, there are fewer buyers in the market. The most cautious ones left back in December, when the coin reached its previous all-time high of $20,000. The next phase of closing long positions followed after bitcoin's rise to $40,000. Only the most die-hard investors and crypto fans have made it to the $50,000 level.
Bitcoin is overbought. But after the price stepped over $55,000 on Friday evening February 19, there was no active sale. The market froze in anticipation. Alarming signals are already coming, though.
First, the share of sellers is growing, which has increased from 18% to 35% over the past two weeks. Second, about 2/3 of traders buy perpetual futures contracts using leverage, resulting in higher funding rates and commission costs while maintaining long positions. And third, the shares of miners went down.
According to CoinDesk, weekly earnings of bitcoin miners reached a new high of $354 million from February 08 to 14. The previous record figure in seven days was $340 million and was recorded in December 2017. But despite this positive, for example, Riot Blockchain Inc shares lost 20% in price only on February 18.
However, according to a number of experts, it is not worth waiting for the onset of a new crypto winter. Though it may be a deep one, it is just a correction. Moreover, at small volumes there is a probability of growth of bitcoin up to $60,000-65,000 even by inertia. And there, a new wave of purchases can be triggered by FOMO - Lost Profit Syndrome (Fear Of Missing Out). After all, fear and greed are known to drive the market.
Lisa Edwards, sister of self-proclaimed bitcoin creator Craig Wright, has predicted that the first cryptocurrency would rise to $142,000. Based on Elliott Wave Theory, she suggested that digital gold would rise to $90,000 by May 2021, decline to $55,000 by January 2022, and skyrocketing to $142,000 in March 2023. After that, according to Edwards, the cryptocurrency market expects a bearish trend.
But even though the growth of the BTC/USD pair may continue in the near future, you need to be very cautious about purchases at current levels. Most analysts consider them to be quite risky and suggest waiting for a rollback, and only then open new long positions.


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.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market

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  #527  
Old 24-02-2021, 14:22
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CryptoNews


- After bitcoin hit an all-time high of $58,275 on February 21, investors were looking forward to taking the $60,000 high. However, there was a sudden reversal and a sharp drop of 23% to $44,985. According to many experts, the trigger of the massive profit fixation by "whales" was the statement of the former head of the Fed and now the US Treasury Secretary Janet Yellen on the speculative nature of cryptocurrency and the possibility of using it for money laundering. According to analyst Sven Henrich, the head of the Ministry of Finance has actually declared war on bitcoin.
“Digital currencies can provide faster and cheaper payments. But there are many issues to be explored, including consumer protection and money laundering,” Janet Yelen said, also mentioning the possibility of launching the Central Bank's own digital currency (CBDC).
The fall in bitcoin could also have been facilitated by the fall in global indices of technology companies, as well as the beginning of a large-scale vaccination against coronavirus.

- According to Bloomberg, against the background of the decline in the bitcoin rate, the head of Tesla and SpaceX, Elon Musk, lost the first place in the ranking of the richest people on the planet. Tesla shares fell 8.6%, causing Musk to lose $15.2 billion. Shortly before the decline, the company announced that it had added $1.5 billion in bitcoin to its balance sheet. At the same time, the fall in bitcoin, according to Bloomberg, may be partly related to the statement of Musk himself, who called the prices of cryptocurrencies too high.

- Due to technical failures, some customers of the Philippine crypto exchange PDAX were able to buy bitcoin almost 10 times cheaper than the market price, Bitpinas reports. One of the users admitted that he bought bitcoins for 300,000 pesos ($6,150), while the average market price of BTC was about $50,000, after which he transferred the cryptocurrency to his wallet.
A day later, PDAX sent him a letter demanding the return of the bitcoins, but the buyer's lawyer claims that "the transaction was legitimate, in accordance with applicable laws, and PDAX cannot withdraw transactions unilaterally."
Another client of this crypto exchange unexpectedly found 40 billion Philippine pesos or about 820 million dollars in his account. It is not reported whether he was able to withdraw this "gift" from PDAX.

- Three platforms - Binance, Huobi and OKEx - account for 75% of the total trading volume on crypto exchanges, according to BDCenter Digital. The safest exchanges were Kraken, Coinbase and Binance.
The study showed that the number of cryptocurrency users has almost tripled since 2018 and reached 191 million users from over 150 countries in the third quarter of 2020. At the same time, the researchers emphasize that the availability of an exchange in a country does not mean the actual availability of all its products and functionality. So the purchase of cryptocurrencies using a credit card is supported only by 65% of sites.

- One of the world's largest money transfer services, MoneyGram, refused to use the product based on the XRP token due to the claims of the US Securities and Exchange Commission (SEC) against Ripple. This is stated in a report by the company.
Against the backdrop of SEC claims, in addition to MoneyGram, Coinbase and OKCoin, Galaxy Digital, Bitstamp, B2C2, eToro and Kraken have already refused to support the XRP token. Asset management company Grayscale Investments announced the liquidation of an XRP-based investment trust, and 21Shares has excluded the Ripple token from its traded exchange products.

- Australian authorities have charged a Sydney resident suspected of drug trafficking, money laundering and bitcoin money laundering for a total of $4.3 million. The police found two bags with $1 million in cash in his car, and seized mobile phones, a laptop and a batch of illegal substances from his home.
Recall that in January 2021, the owner of the RG Coins cryptocurrency exchange Rossen Iosifov already received 121 months in prison for laundering about $5 million using digital assets.

- Analysts reviewed publications about cryptocurrency exchanges in various media. Cointelegraph was the leading media outlet by the number of articles. The first place in popularity was taken by English, the second - Russian.
According to BDCenter Digital, 12 out of 100 Twitter posts are about cryptocurrency. In just the week of February 7-14, Twitter users mentioned bitcoin over 675,000 times. The last record was set on January 10, when the weekly number of posts mentioning bitcoin reached 576,000.

- According to a responsible representative of the Russian Orthodox Church, it does not plan to create its own cryptocurrency to accept donations. The church has also refused to accept bitcoins and other cryptocurrencies. At the same time, according to Metropolitan Hilarion, believers may well make donations to the church using the phone.

- According to the co-founder of Morgan Creek Digital Assets Anthony Pompliano, the main cryptocurrency may reach $500 thousand by the end of this decade, and even $1 million in the long term.
However, the growth of cryptocurrency quotes may stop due to the rapid recovery of the global economy after the recession caused by the coronavirus epidemic. In this case, central banks will begin to roll back their quantitative easing programs, raise interest rates, stop buying assets and printing cheap money. As a result, investment flows into bitcoin, as one of the most attractive safe havens, can dry up very quickly.

- The largest developer of graphics processors, the American technology company Nvidia has announced plans to release a series of video cards specifically for mining the Ethereum cryptocurrency, which is the second after bitcoin. According to CNBC, the new type of GPU is called CMP (Crypto Mining Processor) and can appear in the market already in March 2021.


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  #528  
Old 27-02-2021, 06:55
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Two More Awards for NordFX: Best Affiliate Program & Best Forex Broker Middle East 2020


At the end of 2020, the Forex-Awards.com expert council named NordFX Best Forex Broker Middle East. The two-tier NordFX affiliate program was also awarded a prestigious award.



Forex-Awards.com is a team of professionals headquartered in Hong Kong, which specializes in the analysis and evaluation of brokerage companies since 2010, aiming to identify the real market leaders. Based on the opinions of both independent experts and the trader community, Forex-Awards.com employees compile regular ratings of brokers, identifying their strongest and most attractive sides. The winners in each of the 30 nominations are then determined based on the results obtained. A convincing victory was won by the brokerage company NordFX in two of them in 2020.

More than one and a half million accounts have been opened by clients from almost 190 countries during 13 years of NordFX work, among them many traders from the Middle East. Back in 2013, at the 12th MENA Forex Show, the company won the prize as Best Forex Arabic Platform. And now the new award confirms the high level of services that NordFX provides to clients from this region: the first place in the Best Forex Broker Middle East nomination.

Another victory at the Forex Awards was won in the Best Affiliate Program category. Since 2016, thanks to its effectiveness and popularity, NordFX's two-tier affiliate program has been receiving the highest marks. It has been recognized as the best by expert committees of not only Forex-Awards.com, but also by Academy Masterforex-V and Saigon Financial Education Summit. More than 25,000 of the company's partners have already been paid more than $30,000,000 as commission until now, and these figures continue to grow steadily.


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  #529  
Old 28-02-2021, 07:58
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Forex Forecast and Cryptocurrencies Forecast for March 01-05, 2021


First, a review of last week’s events:

- EUR/USD. As we expected, the speech by the head of the Fed turned out to be quite interesting. Jerome Powell presented to Congress a semi-annual report on monetary policy, from which it followed that not everything is as good as we would like as far as the recovery of the US economy is concerned. The surge in economic activity in the summer of 2020 was followed by the slowsown of the growth rate. The decline in unemployment has slowed down, and household expenditures are not growing either.
After the unrest and turmoil of 2020, a lot of attention is paid to socio-demographic differentiation, but the picture is not the rosiest either. Unemployment among "white" Americans, according to the Fed, is 5.7%, while among Hispanics - 8.6%, and among African Americans it is even higher - 9.2%. There is also discrimination based on gender: for the last month of 2020, men gained 16,000 new jobs, while women, on the contrary, lost 140,000.
All of the above raises certain doubts about the early recovery of the American economy, leads to a decrease in risk sentiment, and strikes a blow on the stock market and the US dollar. Investors are shifting attention to long-term government bonds. Since the beginning of 2021, the yield on 10-year treasuries has jumped from 0.91% to 1.56%, and their growth has become especially noticeable recently. As for stock indices (especially stocks of technology companies), they, accordingly, go down sharply. For example, the S&P500 was losing up to 3.8% in just two days - February 25-26, while the Nasdaq Composite was sinking by more than 3%. The DXY dollar index is also gradually approaching 2018 lows, losing about 9% this year.
In such a situation, most analysts (65%) expected the dollar to weaken and rise to the 1.2200-1.2300 zone, which happened: at the week's high, February 25, the EUR/USD pair was approaching 1.2245. However, then it seems that investors changed their minds and began to realize that the growing yield of long-term Treasury securities directly affects the growth of rates on current consumer lending. And that immediately brings to mind the 2008 mortgage crisis, which marked the beginning of a series of major bankruptcies. As a result, the dollar strengthened a little and the EUR/USD pair dropped to the zone 1.2070-1.2100 - the place where it has already been several times since last December. This can only say about one thing: the confusion of the market and the lack of clarity about the prospects of the European and American economies;

- GBP/USD. As predicted, Prime Minister Boris Johnson's speech on Monday 22 February, as well as the expectation of positive data from the UK labour market on Tuesday 23 February, continued to push the pair GBP/USD to the highs of 2018, raising it to the height of 1.4240.
And of course, the dynamics of the pair could not but be affected by what was happening in the United States. Therefore, repeating the EUR/USD parabola, the GBP/USD pair went south on Thursday February 25, especially since it was overbought, and some reason was simply needed to take profit on the pound.
On Friday, having lost 355 points, the pair found a local bottom at 1.3885. This was followed by a rebound and a finish at 1.3930;

- USD/JPY. It was said last week that this pair was moving within the medium-term side channel 102.60-107.00. Only 35% of experts believed then that the pair had not yet completed its movement to the upper border of this trading range. True, 75% of oscillators and 80% of trend indicators on D1 were on their side, which gave additional weight to this forecast, which turned out to be absolutely correct. The USD/JPY pair recorded a 26-week high at 106.70 on the second half of Friday, February 26. As for the final chord, it sounded at the height of 106.55;

- cryptocurrencies. We have repeatedly written that the presence of large institutional investors in the crypto market is a double-edged sword. On the one hand, they can strongly push the market up, and on the other hand, they can crash the quotes if they fix profits. In addition, the actions and sentiments of such institutions are highly dependent on the actions and sentiments of regulators and other government agencies. We felt all this in full last week.
After bitcoin hit an all-time high of $58,275 on February 21, investors were looking forward to taking the $60,000 high. However, there was a sudden reversal and a sharp drop of 23% to $44,985. Then the rebound to $50,000, and a fall again - to $44,000.
According to many experts, the trigger of the massive profit fixation by "whales" was the statement of the former head of the Fed and now the US Treasury Secretary Janet Yellen on the speculative nature of cryptocurrency and the possibility of using it for money laundering. According to analyst Sven Henrich, the head of the Ministry of Finance has actually declared war on bitcoin.
“Digital currencies can provide faster and cheaper payments. But there are many issues to be explored, including consumer protection and money laundering,” Janet Yelen said, also mentioning the possibility of launching the Central Bank's own digital currency (CBDC).
The fall in bitcoin could also have been facilitated by the fall in global indexes of technology companies and the beginning of large-scale vaccinations against coronavirus, but the main thing is the position of the US Government.
According to Bloomberg, against the background of the decline in the bitcoin rate, the head of Tesla and SpaceX, Elon Musk, lost the first place in the ranking of the richest people on the planet. Tesla shares fell by 8.6%, as a result of which Musk lost $15.2 billion. At the same time, the fall in bitcoin, according to Bloomberg, may be partly due to the statement of Musk himself, who called the prices of cryptocurrencies too high. It is not for nothing that they say that a word is silver, and silence is gold. Musk would be better off keeping his mouth shut ?.
Of course, someone loses, and someone finds. Thus, for example, due to technical failures, some customers of the Philippine crypto exchange PDAX were able to buy bitcoin almost 10 times cheaper than the market price, Bitpinas reports. One of the users admitted that he bought bitcoins for 300,000 pesos ($6,150), while the average market price of BTC was about $50,000, after which he transferred the cryptocurrency to his wallet. A day later, PDAX sent him a letter demanding the return of the bitcoins, but the buyer's lawyer claims that "the transaction was legitimate, in accordance with applicable laws, and PDAX cannot withdraw transactions unilaterally."
Another client of this crypto exchange unexpectedly found 40 billion Philippine pesos or about 820 million dollars in his account. It is not reported whether he was able to withdraw this "gift" from PDAX.
In general, the reliability of crypto exchanges is still a rather painful topic. According to BDCenter Digital agency, Kraken, Coinbase and Binance are the safest exchanges. The brokerage company NordFX can also be noted here, whose clients can also make transactions and store deposits in cryptocurrencies. In the 13 years of this broker, it has not had a single hack and not a single penny of client funds has been lost.
On Friday evening, February 26, the BTC/USD pair is trading in the $46,000 zone. The total market capitalization fell over the week from $1,625 billion to $1,410 billion. AND The Crypto Fear & Greed Index has finally come out of strong overbought zone to neutral levels, dropping from 93 to 55.
When it comes to altcoins, there is both good news and bad news. For example, the largest developer of GPUs - American technology company Nvidia announced plans to release a series of graphics cards specifically for mining Ethereum. According to CNBC, they can be expected to appear on sale this March.
But it looks like the hard times will not end for Ripple. One of the world's largest money transfer services, MoneyGram, refused to use the product based on the XRP token due to the claims of the US Securities and Exchange Commission (SEC) against Ripple. Against the backdrop of SEC claims, in addition to MoneyGram, Coinbase and OKCoin, Galaxy Digital, Bitstamp, B2C2, eToro and Kraken have already refused to support the XRP token. Asset management company Grayscale Investments announced the liquidation of an XRP-based investment trust, and 21Shares has removed the Ripple token from its exchange-traded products. As a result, the Ripple lost up to 45% of its value last week, and the XRP/USD pair was trading at $0.42 on the evening of February 26.


continued below...
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  #530  
Old 28-02-2021, 08:00
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As for the forecast for the coming week, summarizing the views 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 figures given in the first part of the review confirm the opinion of the US Federal Reserve management that it is still very, very early to talk about any curtailment of the quantitative easing (QE) program, as well as about raising interest rates. Therefore, the Fed will continue its soft monetary policy, even as inflation expectations rise caused by a doubling of the Fed's balance sheet over the past year.
However, not only the US has the problem of increasing national debt. Europe is experiencing similar problems, and the interest rate there is even lower than on the other side of the Atlantic. The profitability of European government securities is also growing. Thus, the rate on 10-year bonds in Germany has already reached an 11-month high.
In general, we can say that the balance between the problems and achievements of the Old and New Worlds remains on average at the same level, experiencing minor temporary fluctuations, which is reflected in the three-month sideways trend of the EUR/USD pair. If you look at its chart, it can be seen that, since December 2020, most of the time it moves in a fairly narrow trading range of 1.2050-1.2185, with emissions up to 1.1950 and 1.2350.
If we talk about the short term, 70% of analysts believe that the pair will continue to decline to the 1.1950-1.2000 zone. They are supported in this by 75% of oscillators on H4, the remaining 25% give signals that the pair is oversold. As for the oscillators on D1, there are approximately equal shares of red, green and gray-neutral colors. 95% of the trend indicators on H4 and 65% on D1 are painted red.
But graphical analysis on both timeframes gives preference to the upward movement of the pair. Resistance levels are 1.2170 1.2240 and 1.2270. However, after this push to the north, graphical analysis on D1 draws a decline in the pair during March to support at 1.1950.
And now about the events of the coming week, of which there will be quite a few. Firstly, we are waiting for the speeches of the head of the ECB Christine Lagarde on Monday March 01 and the head of the US Federal Reserve Jerome Powell on Thursday March 4. Statistics on the consumer markets of Germany and the EU will be released on March 01, 02 and 04. As for the US macro statistics, the indicators of ISM business activity in the manufacturing and private sectors will be known on Monday and Wednesday. And in addition, data on the labor market will be published on Wednesday and Friday. Moreover, according to forecasts, a significant increase in new jobs created outside the US agricultural sector (NFP) is possible - from 49K to 148K;

- GBP/USD. First, the readings of technical indicators. Oscillators: 90% on H4 are looking south, 10% are in the oversold zone; only 15% are looking to the south on D1, 50% to the north, and 35% are neutral. Trend indicators: 80% look south on H4, 20% look north, 25% look south on D1, 75% look north.
Graphic analysis on D1 draws a side trend in the range 1.3860-1.4240. And it is clear that since the pair finished the previous week closer to the lower border of this channel, it will move upward. 60% of experts agree with this forecast. Resistance levels are 1.3960, 1.4055, 1.4085 and 1.4175.
The remaining 30% believe that the pair will break the lower border of the channel 1.3860, then support around 1.3800 and will go to the 1.3600-1.3760 zone. It should be noted that, when moving from weekly to monthly forecast, the number of supporters of the bears increases to 65%.

- USD/JPY. The multi-month downtrend of this pair was stopped on January 06, and it turned north, moving to the upward channel. According to the graphical analysis on D1, the USD/JPY pair has almost reached its upper border now, which is in the zone 106.70-107.00, and should soon bounce back to the south. Such a scenario is supported by 25% of the oscillators giving signals about the pair being overbought. It is clear that the remaining 75% of oscillators and 100% of the indicators on both time frames are colored green so far.
As for experts, a third of them sides with the bulls, a third votes for the bears, and a third takes a neutral stance. However, in the transition from weekly to monthly forecast, 75% of analysts vote for the pair to stay within the medium-term trading range of 102.60-107.00 (it was mentioned in the first part of the review), and therefore await its return to its central zone at 105.00. Support levels are 106.10 and 105.70; The remaining 25% of experts believe that the pair will be able to reach the zone of 108.00-108.50;

- cryptocurrencies. The popularity and prominence of cryptocurrencies continues to grow. According to BDCenter Digital, 12 out of 100 Twitter posts are about cryptocurrency. In just the week of February 7-14, Twitter users mentioned bitcoin over 675,000 times. The last record was set on January 10, when the weekly number of posts mentioning bitcoin reached 576,000. In total, the number of cryptocurrency users has stepped over 200 million people from more than 150 countries.
Despite the drop last week, 2021 started off well for bitcoin overall. The pair started at $28,800 on January 1 and is trading at $46,000 at the time of writing, having gained almost 60%. And now, importantly, the Crypto Fear & Greed Index has finally emerged from a strong overbought state, dropping from 93 to neutral 55.
Of course, this does not mean that the quotes of the BTC/USD pair will immediately fly up. However, what is happening gives investors hope for the fulfillment of the positive predictions of many experts and crypto gurus. recall that Lisa Edwards, sister of self-proclaimed bitcoin creator Craig Wright, has predicted that the first cryptocurrency would rise to $142,000. Based on Elliott Wave Theory, she suggested that digital gold would rise to $90,000 by May 2021, decline to $55,000 by January 2022, and skyrocketing to $142,000 in March 2023.
According to the co-founder of Morgan Creek Digital Assets Anthony Pompliano, the main cryptocurrency may reach $500 thousand by the end of this decade, and even $1 million in the long term.
However, the growth of cryptocurrency quotes may stop due to the rapid recovery of the global economy after the recession caused by the coronavirus epidemic. In this case, central banks will begin to roll back their quantitative easing programs, raise interest rates, stop buying assets and printing cheap money. As a result, investment flows into bitcoin, as one of the most attractive safe havens, can dry up very quickly.
So, what did we observe last week - a temporary correction or the beginning of a new "crypto winter"? The question is still open. However, the overwhelming majority of experts (70%) believe that the BTC/USD pair will reach the $ 60,000-75,000 zone in spring. The pessimism of the remaining 30% of analysts is expressed in the figures of $30,000-35,000.


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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  #531  
Old 03-03-2021, 15:14
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CryptoNews


- The trading volume on cryptocurrency exchanges in February exceeded $1 trillion. Such numbers were achieved for the first time in history, according to experts. Even during the first bitcoin rally, the trading volume reached only $650 billion. According to experts of the analytical platform Block Research, large investors prefer to carry out transactions from one account to another through third-party services in order to maintain complete anonymity. Therefore, the real number of transactions can even be twice the official amount.

- Users of the Opera browser will be able to carry out transactions with many popular cryptocurrencies directly in the browser. “We have added fundamentally new algorithms. We are talking about the Simplex payment processor, which is used in many reliable and reputable cryptocurrency wallets. We are ready to provide services on competitive terms. This is especially true of transaction fees, which we will have as low as possible,” Opera says in a press release. Another benefit would be creating a digital wallet without going to third-party sites.

- A proponent of gold, President of Euro Pacific Capital Peter Schiff congratulated those who managed to buy the first cryptocurrency before take-off and made Wall Street succumb to "this mania." It was just recently, that this bitcoin sceptic called bitcoin the largest bubble in history and unflatteringly spoke about the mental abilities of cryptocurrency investors. And now he has admitted his mistake. “When I first heard about bitcoin, I didn't think that smart investors would be stupid enough to buy bitcoin. I was wrong," Schiff wrote.

- The Google Finance platform has added a tab for monitoring digital asset prices. The new section provides real-time information on Bitcoin, Ethereum, Litecoin and Bitcoin Cash prices. This block has been added to the sections on the markets of the US, Asia, Europe and "Currencies", and makes it possible to compare the performance of cryptocurrencies with other financial instruments.

- The amount of damage from fraud with digital currencies could double in 2021 and reach $4.5 billion. This This assumption was made by specialists of Kaspersky Lab. Other popular fraudulent schemes include the closure of bitcoin exchanges under the pretext of technical problems or hacker attacks, gaining access to user data using fake applications or websites, and sending out fraudulent emails.

- The head of Galaxy Digital, Mike Novogratz, has dramatically changed the forecast for the BTC rate for the end of 2021 upwards. “We are watching one group of investors after another,” he writes. “They were Square, MicroStrategy and Tesla corporations. These were insurance companies Mass Financial and others. These are wealthy people. This is ETF. Suddenly, buying bitcoin is no longer insignificant or risky. On the contrary, it has become risky not to have BTC in the portfolio when central banks continue to print money. Our business at Galaxy is booming. We don't have enough time to hire sales managers to reach all the institutional clients who want to understand and participate in the market."
“It feels like,” says Novogratz, “we’ll stay for a bit between $42,000 and $60,000, and then the next big jump to $100,000. I will not be surprised if we reach this mark by the end of this year."

- MicroStrategy bought another 328 BTC for $15 million. It is the first purchase of crypto assets in March, following its February acquisitions worth billions of dollars. And now MicroStrategy has about 90,859 BTC purchased for $2.186 billion at an average price of $24,063 per coin.
Earlier, MicroStrategy CEO Michael Saylor said the company will continue to buy digital currency: "We are focusing on two corporate strategies: expanding the enterprise analytics software business and buying and storing bitcoin." Saylor predicts that 7-8 billion people on the planet will have a “bullion of digital gold” in the phone in the long run, which they will use as family savings.

- The Visa payment system is interested in changing the views of bank card holders due to the coronavirus pandemic. For example, a survey it conducted showed that 25% of all credit card holders in South America would like their banks to add the ability of settlements in cryptocurrency. One in four Hispanics expressed a desire to experiment with digital assets and try them out in everyday life.

- Despite the technical limitations for cryptocurrency mining, set in the Sony PlayStation 5 game console, it is quite suitable for this process at the hardware level. This was taken advantage of by a gamer and crypto enthusiast from China named Yifan Gu, who managed to bypass the restrictions and adapted the console for Ethereum mining, gaining a profit of about $50 per week. This is reported by the Gizchina edition.
Earlier, Yifan Gu adapted MacBook Air with Apple M1 chip for mining Ethereum. However, at the current rate of this altcoin, you can earn only $0.14 in one day on the MacBook Air.

- One of the experts in the field of competitive intelligence has suggested that creating and maintaining the long-term hype around bitcoin is not accidental. According to him, in case the American financial elite manages to convince its creditors that having bitcoins is better than dollars, it can transfer all external debt of the US to this cryptocurrency over time. "As soon as this happens, the cryptocurrency will only have to collapse, and America's gigantic debt will actually be zeroed," the expert reflects.

- Cryptocurrency mining requires more and more electricity, which poses a threat to humanity's path to “zero emissions.” This is reported by the Guardian, citing alarming research findings by American scientists. Thus, the amount of energy used to extract bitcoins exceeds the annual energy consumption of entire countries. “We're talking about a few terawatts, tens of terawatts of electricity per year that are used for bitcoin alone,” notes University of New Mexico economics professor Benjamin Jones, calling for measures to regulate cryptocurrency mining to reduce the carbon footprint.

- Financial industry veteran and Fidelity Investments director of macro markets Jurrien Timmer believes that bitcoin has reached the point where it can be considered for investment and hedging inflation risks. “I think gold and bitcoin are great for replacing some of the bonds,” Timmer writes in a paper titled Understanding Bitcoin.
In his opinion, the limit on the maximum number of bitcoins makes this asset very similar to gold. Moreover, the appearance of new bitcoins on the market is constantly slowing down, but the volume of gold production has remained at the same level for half a century.
Timmer's views are in line with those of SkyBridge Capital founders Anthony Scaramucci and Brett Messing. They released an article in January in which they described bitcoin as a mature investment asset, comparable in reliability to gold and bonds.


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  #532  
Old 07-03-2021, 14:43
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Forex Forecast and Cryptocurrencies Forecast for March 08 - 12, 2021


First, a review of last week’s events:

- EUR/USD. There is a saying, “a new broom sweeps clean”. If the previous US President Donald Trump were in the shoes of Joe Biden now, he would probably call the head of the Fed Jerome Powell a "traitor" for the fact that his speech on Thursday February 04 literally brought down the stock markets of America. Powell stayed indifferent to the surge in US Treasury yields, which closed at an annual high. At the same time, he hinted at the possibility of premature tightening of monetary policy.
And although the head of the Fed stressed that the economy is far from overheating, and he does not yet see the need to raise the interest rate, the market has had a hint of a possible change in monetary policy. In response, the 10-year Treasury yields rushed up with the dollar, and the stock market rolled down. The S&P500 lost over 120 points and the Dow Jones Industrial Average lost over 300 points.
The decline in stock prices is forcing investors to seek refuge in the dollar. As a result, the DXY dollar index reached a three-month high of 91.83 on Thursday, its growth continued Friday, March 05, and the DXY exceeded 92.00 at the time of this writing.
The data from the US labor market added optimism to investors. The number of new jobs outside the agricultural sector (NFP) increased from 166K to 379K, with the forecast of 182K. As a result, the forecast, for which the majority (70%) of analysts voted last week, turned out to be absolutely correct: the EUR/USD pair continued its movement to the south, reaching a local bottom at 1.1895 and ending the week slightly higher, at 1.1915;

- GBP/USD. Graphical analysis on D1 suggested last week a sideways movement of the pair within 1.3860-1.4240. However, the channel turned out to be narrower: it was trading in the range of 1.3860-1.4000 until Thursday. And then, thanks to the statement of the head of the US Federal Reserve Jerome Powell, the dollar began to grow stronger, and the GBP/USD pair, having broken through the lower border of the channel, dropped to the horizon of 1.3775. The last chord of the five-day period was set at the level of 1.3840;

- USD/JPY. The multi-month downtrend of this pair was stopped on January 6, it reversed and moved north for almost all of 2021. When making a forecast for the last week, a third of the experts sided with the bears, a third took a neutral position, and a third voted for the growth of the pair. And even fewer experts agreed that it would be able to reach the zone 108.00-108.50, they were only 25%. And they were right: the week's high was recorded at 108.60, followed by a slight bounce down and a finish at 108.35.
The reason for the rise of the pair is still the same: against the background of the growth in the yield of American bonds, which outstrips the yield on Japanese securities, investors get rid of such a protective asset with a negative interest rate as the yen. Along with the Japanese currency, gold and the Swiss franc are also particularly affected. In addition, the mentioned statement by Jerome Powell added fuel to the fire, after which the USD/JPY pair reached an eight-month high;

- cryptocurrencies. There is good news for the bulls: Bitcoin hasn't dropped below $43,000. But there is good news for the bears too: Bitcoin has not gone above $52,000. Having drawn a sinusoid, the BTC/USD chart returned on the afternoon of Friday, March 05 to where it started seven days ago. The question of whether this is a correction or the beginning of a new "crypto-winter" remains open.
The news background looks quite controversial as well. Leading payment systems such as Mastercard, Visa and PayPal are playing on the side of the bulls, seeking to attract the "crypto generation". Skrill and Neteller are doing the same. The Opera browser has been enriched with new algorithms that will allow users to perform transactions with many popular cryptocurrencies. Another Opera feature would be creating a digital wallet without going to third-party sites. Such a giant as Google also turned to cryptocurrencies: the Google Finance platform added a tab for monitoring the prices of digital assets.
User activity is growing. The trading volume on cryptocurrency exchanges in February exceeded $1 trillion. Such numbers were achieved for the first time in history, according to experts. Even during the first bitcoin rally, the trading volume reached only $650 billion. According to experts of the analytical platform Block Research, large investors prefer to carry out transactions from one account to another through third-party services in order to maintain complete anonymity. Therefore, the real number of transactions can even be twice the official amount.
However, not everything is as rosy as it seems at first glance. We already wrote that regulators can (and most likely will) become the main problem for digital assets in 2021.
According to analyst Sven Henrich, the head of the USA Ministry of Finance janet Yellen has actually declared war on bitcoin. Her announcement led to a massive profit taking by the whales on February 21-23, and a sharp 23% drop in bitcoin quotes. And now the North American Association of Securities Administrators (NASAA) has published an annual list of the most dangerous financial products, calling cryptocurrencies the top investment risk this year.
In the framework of the struggle of states for control over financial flows, one should not forget about the imminent appearance of the digital yuan, which can deal a serious blow to bitcoin. The United States and a number of other countries do not exclude the possibility of launching their own digital currencies (CBDC) as well.
In the meantime, as we wrote above, the market is at a crossroads. The total market capitalization for the week grew very slightly: from $1,410 billion to $1,444 billion. And the Crypto Fear & Greed Index left the neutral zone (55) again and headed towards the overbought zone, reaching 77 points out of 100 possible.


As for the forecast for the coming week, summarizing the views 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. Judging by the latest indicators, the US economy is doing much better. Vaccinations are in full swing, the labor market is recovering, and GDP in the first quarter is ready to grow by almost 10%. According to Jerome Powell, consumer prices may even slightly exceed the target level of 2% as early as this summer.
However, there is still a long way to a complete recovery. It is this weekend, March 06-07, that the Senate will begin voting on amendments to the budget. And if legislators approve them, US citizens will receive a new gratuitous aid of $1,400 per person, and the overall stimulus package (QE) will amount to $1.9 trillion.
This injection of almost 2 trillion new dollars into the market could cause a serious weakening of the US currency and a return of risk appetite for investors. In this case, the sell-off of shares will stop and stock indices will go up again.
When making a forecast for the coming days, most experts (60%) do not exclude the continuation of the downtrend and the fall of the EUR/USD pair to the zone 1.1800. 100% of trend indicators and 75% of oscillators on H4 and D1 are looking down. But the remaining 25% is already signaling that the pair is oversold.
The picture changes radically with the transition to monthly and quarterly forecasts. Here 70% of analysts expect that the scales will tilt towards the euro after the $1.9 trillion in aid appears on the US market, and the pair will go up. Resistance levels are 1.2025, 1.2060, 1.2170, 1.2200 and 1.2270.
As for the events of the coming week, the publication of data on GDP in the Eurozone on Tuesday March 09, statistics on the US consumer market on Wednesday March 10, and Germany on Friday March 12, as well as the decision of the European Central Bank on the interest rate on Thursday March 11should be considered. According to forecasts, the rate is likely to remain unchanged, at zero. Therefore, the press conference of the ECB leadership, which will be held on the same day, will be of greater interest;

- GBP/USD. Bank of England Governor Andrew Bailey is scheduled to speak on Monday, March 8, where he intends to outline the main parameters of the country's monetary policy while it tries to cope with the financial damage caused by the COVID-19 pandemic. According to ING analysts, “overall, fiscal support should highlight the constructive prospects for the pound sterling in the second quarter of 2021. Further fiscal assistance will contribute to economic recovery and make the pound sterling a leader in the currency market of the G10 countries."
But until this happens, 50% of analysts expect that the GBP/USD pair will break through the support in the 1.3775-1.3800 area and rush to the 1.3600-1.3760 zone. This forecast is supported by 85% of trend indicators and 100% of oscillators on H4, but only 65% of their “colleagues” on D1.
25% of experts, supported by graphical analysis on both timeframes, expect the pair to grow, and another 25% have taken a neutral position. At the same time, as in the case of EUR/USD and for the same reasons, the number of bulls' supporters increases to 60% when switching to the monthly forecast. The resistance levels are 1.3900, 1.3950, 1.4000, 1.4085 and 1.4185, the target is the February 24 high of 1.4240;

- USD/JPY. After the pair literally soared by 215 points last week and reached eight-month highs, it is clear that 100% of the trend indicators are colored green. But as for the oscillators, 35% are already signaling fully that it is overbought. Graphical analysis also points to the south. Many traders are afraid to open both long and short positions in such a situation.
As for the experts, the scales have already begun to tilt in favor of a downward correction: there are 50% of bears' supporters now. 25% expect the USD/JPY pair to continue to rise, and another 25% remain neutral. In the transition from a weekly to a monthly forecast, 80% of analysts are already expecting the pair to decline and return to the 105.00 zone. Support levels are 108.00, 106.70, 106.10 and 105.70; Resistance - 109.80;

- cryptocurrencies. A Glassnode study found that only 4 million bitcoins are in free float on the market. The third halving in May 2020 halved the miners' reward for the mined block from 12.5 BTC to 6.25 BTC. It further enhances the shortage of coins in the market. And as you know, it is the limited emission of bitcoin that is one of its main advantages over gold and fiat currencies.
“Suddenly, buying bitcoin is no longer insignificant or risky,” wrote Mike Novogratz, head of Galaxy Digital crypto bank. On the contrary, it has become risky not to have BTC in the portfolio when central banks continue to print money. We don't have enough time to hire sales managers to reach all the institutional clients who want to understand and participate in the market."
Even such a supporter of gold as Euro Pacific Capital president Peter Schiff has supported Novogratz. It was just recently, that this bitcoin skeptic called bitcoin the largest bubble in history and unflatteringly spoke about the mental abilities of cryptocurrency investors. And now he has admitted his mistake. “When I first heard about bitcoin, I didn't think that smart investors would be stupid enough to buy bitcoin. I was wrong," Schiff wrote.
Going back tothe head of Galaxy Digital, Mike Novogratz, we should note that he has dramatically changed the forecast for the BTC rate for the end of 2021 upwards. “It feels like,” says the banker, “we’ll stay for a bit between $42,000 and $60,000, and then see the next big jump to $100,000. I will not be surprised if we reach this mark by the end of this year."
An unexpected conspiracy forecast was given by an expert in the field of competitive intelligence. He believes the creation and support of the Bitcoin hype for years is no coincidence. In case the American financial elite manages to convince its creditors that having bitcoins is better than dollars, it can transfer all external debt of the US to this cryptocurrency over time. "As soon as this happens, the cryptocurrency will only have to collapse, and America's gigantic debt will actually be zeroed," the expert reflects.
Time will tell whether it is true or not. In the meantime, events in the US stock market play one of the leading roles in influencing bitcoin. Recall that about a year ago, the fall in the stock market due to the panic around the COVID-19 pandemic provoked a collapse of the cryptocurrency market.
And in conclusion, another funny crypto life hack. We have already talked about an American fortune teller who predicts bitcoin rates by observing the movement of the planets. There was also a story about another resident of the United States who placed a mining farm in the trunk of his BMW. The farm receives energy from the car's battery, to which it is connected using a DC inverter, which allows the owner to mine cryptocurrency while the car is moving.
And now a gamer and crypto enthusiast from China named Yifan Gu has become known. He managed to bypass the technical limitations for cryptocurrency mining, set in the Sony PlayStation 5, and adapted this game console for Ethereum mining, gaining a profitability of about $50 per week. Earlier, Yifan Gu adapted his MacBook Air with Apple M1 chip for mining this leading altcoin. However, at the ETH current rate, you can earn only $0.14 in one day on the MacBook Air.


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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  #533  
Old 10-03-2021, 15:36
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CryptoNews


- The price of bitcoin at the moment is most correlated with real estate prices, and in the future, bitcoin will become similar to low-risk instruments like bonds and will enter the recommended portfolio of investors. This was announced by the head of ARK Investment Cathie Wood on CNBC. “I think the first cryptocurrency will behave like fixed income markets,” Wood said. “We have survived a 40-year bond bull market. And we won't be surprised if this new asset class becomes part of the investment portfolio. Perhaps it will be 60% stocks, 20% bonds and 20% cryptocurrency.” Renowned bitcoin critic Peter Schiff, president of Euro Pacific Capital, called Wood's predictions "outrageous."

- The US Internal Revenue Service (IRS) sent out letters to cryptocurrency holders demanding to pay off large debts to the state. And now, according to Forbes, this agency has launched Hidden Treasure operation to search for residents who hide their income from transactions with digital assets. According to IRS legal counsel Carolyn Shank, the agency is working with private contractors to identify clear signs of violations. "We see you," Shank added menacingly.

- One of the oldest private banks in Germany, Donner & Reuschel, headquartered in Hamburg, is going to add services for the purchase and storage of crypto assets for its clients. Due to high demand, it is planned to launch these services “as soon as possible,” the bank said in a statement.
Donner & Reuschel was founded in 1798 and manages assets worth about $10.7 billion. The bank plans to "intensively engage" in asset tokenization in the future in order to keep up with changes in the financial industry. “We are observing the digital asset market and are convinced of the potential of blockchain, including in relation to traditional securities transactions,” said Marcus Vitt, spokesman for the bank's board.

- The entrepreneur and creator of the famous antivirus, John McAfee, has been charged with fraud and money laundering, and now faces up to 100 years in prison. The case will be considered by the Court of the Southern District of New York. Recall that McAfee was arrested in Spain in October 2020, and now he is awaiting extradition to the United States. Another person involved in the process will be the executive advisor of the cryptocurrency team of the entrepreneur Jimmy Gail Watson Jr., who has been recently taken into custody.
The first charge concerns the manipulative appreciation of altcoins using the Pump&Dump scheme on Twitter. McAfee posted tweets advertising certain coins, leading to an active increase in their price. When quotes peaked, members of McAfee's team sold these altcoins and took profits. Another issue concerns undisclosed fees for participating in the ICO promotion.
“McAfee and Watson made nearly $2 million by using social media to perform Pump&Dump schemes. They also used the same platform to promote tokens without disclosing information about the reward received from the ICO organizers. This brought them another $11 million,” the prosecutor's office said in a statement.

- Bitcoin is becoming an increasingly popular asset among a wide variety of categories of investors and is gradually replacing gold in their portfolios. This is stated in the February report of analysts from Bloomberg.
“The process of replacing gold in [investors'] portfolios with bitcoin is accelerating and we are seeing the risks decrease. In 2020, the cryptocurrency became attractive because of the decrease in its volatility compared to the previous year,” the authors of the report emphasize. The shrinking range of price fluctuations signals that bitcoin has actually become an alternative to traditional investment assets.
Bloomberg team is also positive about the further rate of the main cryptocurrency. After the coin broke above $50,000, it got the opportunity to test higher values. Demand for this asset is increasing, and its macroeconomic indicators are improving. According to Bloomberg analysts' forecasts, bitcoin could reach $100,000 this year. In the long term, the growth of its value will also continue, according to the authors of the study.

- According to venture capital pioneer Tim Draper, Netflix could be the next big company to invest in bitcoin. Since bitcoin can provide a hedge against the inflationary risks associated with dollar, Draper doesn't rule out cryptocurrencies as the perfect solution for someone like Netflix founder Reed Hastings.
Hastings is a great innovator with a lot of creative ideas, and since he has power in the company, he may decide to invest some of his funds in bitcoin. According to Draper, Google may follow suit, but it is more likely that companies like Google, Facebook or Apple will want to issue their own cryptocurrencies without being tied to bitcoin.

- The forecast, according to which the bitcoin rate may reach $1 million or more in the next 10 years, was announced by the CEO of the Kraken crypto exchange Jesse Powell. In a dialogue with Bloomberg reporters, he also said that bitcoin could eventually replace all major fiat currencies that are not backed by gold and other precious metals.
“Right now we are only guessing, but if you value bitcoin in dollars, then you must understand that its value tends to infinity. True "believers" will tell you that it will reach the Moon, Mars and eventually become the world's currency," said the head of Kraken. However, he agreed that there is a risk of sharp market fluctuations, and that prices could "rise or fall by 50% any day." Therefore, the term of an investment in bitcoin, according to Powell, should be at least five years.

- According to a number of futuristic experts, bitcoin will continue to grow, but due to its architecture, it will eventually burst and depreciate.
The rise in the cost of bitcoin is hardwired into its mathematics, according to Singularity University expert Evgeny Kuznetsov, and the cost of electricity required for mining is constantly growing. Already, this process consumes energy comparable to that of the Netherlands. At some point, it will require the energy of the whole world to generate just one unit. That is, there is a limitation for the growth of bitcoin: it is blocked by the amount of energy consumption. But this will not happen soon, not in a year or two, and until that moment it will be possible to make huge capital on it, the futurologist believes.


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  #534  
Old 12-03-2021, 07:18
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February 2021 Results: NordFX Traders Name Gold and Bitcoin as Leaders Again


NordFX Brokerage company has summed up the performance of its clients' trade transactions in February. The services of social trading, PAMM and CopyTrading, as well as the profit received by the company's IB-partners have also been assessed.

The first line in the rating of the most successful traders has been taken once again by a client from Vietnam, account No. 1416XXX, who received a profit of USD 29,880 on trades, most of which were carried out in pairs with gold (XAU/USD) and bitcoin (BTC/USD). The same trader was in the lead a month ago with an income of 83.598 USD obtained on transactions with the same two trading instruments.

The second place has been taken by a client from China, account No. 1536XXX. The client earned 23,640 USD in February, and their earnings were also based on operations with gold.

But the trader who took the third step of the podium (account No. 1503XXX) used a variety of trading instruments (GBP/AUD, AUD/NZD, EUR/CAD, EUR/AUD, CAD/CHF and AUD/USD), and achieved no less impressive success. Their profit for February was USD 20,716.

According to the results of the shortest month of the year, a competition unfolded among signal providers in the CopyTrading service. Let's list the TOP-3 of February: RichieFX-EA (profit 188%, maximum drawdown 49%), GOLD RUSH Inc. (profit 129%, drawdown 51%) and VN.NO1 (profit 110%, drawdown 31%).

As for PAMM, the past month was not as successful, but if you look at the entire investment period, then, for example, the manager under the nickname WyseTrader9711 showed a profit of 61.45% with a maximum drawdown of 15.7%, and the results of the ProCapital manager were 24.9% with a drawdown of only 9.8%, which is several times higher than the income on bank deposits in USD.

Commission fees of NordFX IB-partners almost doubled in February compared to January, which indicates a serious growth in trading activity. The TOP 3 of the month is as follows:
- the largest commission, USD 17282, was credited to a partner from India, account No.1527xxx;
- next is a partner from Sri lanka, account number 1483xxx, who received 11.749 USD;
- and, finally, a partner from China, account No. 1336xxx, who received 11.233 USD as a reward, closes the top three.


Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.


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  #535  
Old 14-03-2021, 12:29
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Forex Forecast and Cryptocurrencies Forecast for March 15-19, 2021


First, a review of last week’s events:

- EUR/USD. Recall that the head of the Fed Jerome Powell literally brought down the American stock markets with his speech on February 4. Powell stayed indifferent to the surge in US Treasury yields, which closed at an annual high. At the same time, he hinted at the possibility of premature tightening of monetary policy.
And although the head of the Fed stressed that the economy is far from overheating, and he does not yet see the need to raise the interest rate, the market has had a hint of a possible change in monetary policy. In response, the Treasury yields rushed up with the dollar, and the stock market rolled down. The S&P500 lost over 120 points and the Dow Jones Industrial Average lost over 300 points.
And then, everything changed on Tuesday March 09. Strong growth in technology stocks, positive statistics from the labor market, growth in household assets and a bill signed by US President Joe Biden on a new stimulus package for $1.9 trillion pushed the American stock market up. The S&P500 index not only fully recovered from losses, but also updated its historical high, reaching the mark of 3.960. As for long-term treasuries, their profitability, on the contrary, has stabilized. And this despite the fact that the volume of submitted applications exceeded the volume of the issue by 2.38 times, and foreign investors purchased about 20% of securities of the total volume of $38 billion.
The EUR/USD pair reached a height of 1.1990 on Thursday March 11 due to these factors. However, it failed to reach the 1.2000 level. The fall of the pair and the weakening of the euro was facilitated by the statement of the ECB management on the increase in the rate of buying bonds under the PEPP (Pandemic Emergency Purchase Program). But it turned out to be not convincing enough, and nothing was said about scaling up the PEPP. As a result, the fall of the pair was insignificant, and it ended the week at the level of 1.1950;

- GBP/USD. More and more experts are wondering if the pound has passed its high on February 24. Is it time to consolidate with the dollar? The British currency has shown an impressive growth of 2830 points against its American “colleague” (from 1.1410 to 1.4240) starting from the third decade of March 2020. And we have been observing the sideways movement of the GBP/USD pair along the Pivot Point of 1.3900 for the last two weeks. The upper border of the trading range is drawn quite clearly: this is the resistance at 1.4000. Two support levels can be considered as the lower one: the nearest one - 1.3850 and the next one - 1.3775.
The GBP/USD chart of the last week is very similar to the EUR/USD chart. This suggests that both the pound and the euro are not so much independent players in the market now as hostages of the US Federal Reserve's monetary policy and rates on US government bonds. Having started the five-day week at 1.3840, the pair was moving within the above range for the whole week, and set the last chord at 1.3925;

- USD/JPY. The yen has passed one milestone after another in recent weeks, and the USD/JPY pair reached the eight-month highs. Many traders are afraid to open both long and short positions in such a situation. On the one hand, the pair was already overbought, and on the other, it could still fly further upward by inertia. This is what happened in fact: it first rose to the level of 109.25, then a correction to 108.35 followed, and a new rise to the horizon of 109.00, where the pair ended the working week;

- cryptocurrencies. Bitcoin peaked at $58,340 on February 21, after which it pulled back to $43,160, shrinking by 26%. According to Material Indicators, this decline was used by whales and institutions to buy assets from small investors. For example, the number of orders for the purchase of BTC in the amount from $0.1 million to $1 million reached record values on the Binance crypto exchange. And now, twenty days later, on March 12, Bitcoin broke the $58,000 bar again. However, at the time of writing the review, It could not update the historical high, stopping at $58,240
The BTC/USD pair rose last week amid the rise in the US stock market. Although, most likely, this is only a formal reason, and not a real reason for the activation of the bulls. It was clear that they would definitely make an attempt to rise above $60,000. And the only question was when it would happen.
According to CryptoQuant, the demand for bitcoins continues to grow, and their number on exchanges has fallen to a two-year low. As Bloomberg experts point out in their February report, bitcoin is becoming an increasingly popular asset among a wide variety of investors and is gradually replacing gold from their portfolios. According to the authors of the report, the reduction in the range of price fluctuations signals that the main cryptocurrency has actually become an alternative to traditional investment assets.
The overall capitalization of the crypto market is also committed to new heights, along with bitcoin. It grew from $1444 billion to $1756 billion over the week. And now the volume of $2 trillion will become an important psychological level for it.
Interestingly, despite the weekly growth of the BTC/USD pair by 20%, the Crypto Fear & Greed Index, on the contrary, fell from 77 to 70, which may indicate the general bullish mood of the market.
And another interesting observation. Bitcoin's market dominance has declined from 70.4% to 61.4% since early 2021. The indicators of altcoins from the TOP-10 have also gone down or remained at the same levels. But the total capitalization of smaller tokens has risen from 10.3% to 14.4%. It is unlikely that these coins can arouse the interest of large investors. Therefore, such statistics can only indicate that players have begun to use them more actively for short-term speculation.


As for the forecast for the coming week, summarizing the views 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 A meeting of the US Federal Reserve will take place on March 16-17. We are waiting for the Summary of Economic Forecasts from the Open Market Committee (FOMC), the decision on the interest rate, commentary on monetary policy and a press conference by the Fed management following the meeting. The interest rate is likely to remain unchanged at 0.25%. Therefore, the regulator's forecasts will be of particular interest. High expectations will once again highlight the gap between the pace of economic recovery in the US and the Eurozone. Investors will also be concerned about the possibility of tightening monetary policy and the attitude of the Fed management to changes in government bond yields. Consolidation of 10-year yields in the 1.5-1.6% range will help the stock market and push the EUR/USD pair above 1.2000.
So far, the advantage is on the side of the dollar. 70% of experts, supported by graphical analysis, 85% of oscillators and 80% of trend indicators on D1, expect the pair to drop to the 1.1800-1.1850 zone. Support here is still the 200-day SMA at 1.1826. The nearest support is 1.1900.
An alternative view is held by 30% of analysts, supported by graphical analysis on H4. As for the technical indicators on this time frame, their readings are still confusing. Note that when switching from a weekly to a monthly forecast, the number of experts supporting bulls increases to 60%. Resistance levels are 1.2025, 1.2060, 1.2170, 1.2200 and 1.2270;

- GBP/USD. In addition to the meeting of the US Fed, a meeting of the Bank of England will take place on Thursday March 18. It is likely that its results will not affect investors as much as those of their peers on the other side of the Atlantic. However, information on the course of the British economic recovery and its prospects will certainly be given. The market will also be concerned about what is going on in relations with the European Union after Brexit.
The opinions of experts are divided equally at the moment. A third of them, together with graphical analysis on H4, believe that the pair will hold within the 1.3775-1.4000 trading range. Another third, supported by graphical analysis on D1, expects a rise to the February 24 high of 1.4240. And finally, the remaining third is waiting for the pair to fall to the 1.3600 zone;

- USD/JPY. It should become clear in the coming week whether the Japanese currency will stop its decline, and the USD/JPY pair - its rapid rise. There are three determinant factors: the yield of American bonds, the US Federal Reserve meeting and the meeting of the Bank of Japan on Friday, March 19, at which it should determine its policy for the near future.
The rise in US bond yields is pushing the yen down, and the Japanese regulator is expected to react to this catastrophic collapse. Whether the BOJ will insist on controlling the yield curve is open for now.
It should be noted that the last fall in the yen and the growth of USD/JPY on March 12 took place at increased volumes. This indicates that the interest of major players in the continuation of the uptrend of the pair has still not dried up. The trend can be reversed down by either the consolidation of the yield on US securities, or an active sale of risky assets.
But at the time of this writing, 55% of experts expect that the pair will still be able to rise to the 109.50-110.00 zone. 20% are in favor of sideways movement and 25% are for the fall of the pair. Almost 100% of the trend indicators on both H4 and D1 are painted red. Among the oscillators on H4, there are 80% of those, but on D1, 35% are already giving signals that the pair is overbought, which indicates an imminent possible downward correction. In the transition from a weekly to a monthly forecast, 80% of analysts are already expecting the pair to decline and return to the 105.00 zone,. Support levels are 108.35, 106.65, 106.10 and 105.70;

- cryptocurrencies. Recall that in early March, the head of the crypto bank Galaxy Digital Mike Novogratz sharply changed the forecast for the BTC rate for the end of 2021. “It feels like,” said the banker, “we’ll stay for a bit between $42,000 and $60,000, and then see the next big jump to $100,000.
The Bloomberg team is also positive about the further rate of the main cryptocurrency. "After the coin broke above $50,000, it got the opportunity to test higher values. Demand for this asset is increasing, and its macroeconomic indicators are improving,” they say in their February report. According to Bloomberg analysts, bitcoin will be able to reach $100,000 this year, and its value will also continue to rise in the long term.
So how long will bitcoin hang out, in Mike Novogratz's words, between $42,000 and $60,000? Or are we on the eve of the big jump?
A number of experts are pessimistic. As the reason, they point to miners who are buying more and more video cards on new chips, which leads to higher prices and a shortage of such cards on the market. This situation is somewhat reminiscent of the end of December 2017 - January 2018, when the mining boom ended with a market collapse, the destruction of many miners and the onset of a crypto winter. There may not be a new winter this time, experts say, but strong frosts are not entirely out of the question.
In the longer term, electricity costs for mining will also hinder the growth of digital assets. They are constantly growing, and this process consumes energy comparable to that of a country like the Netherlands already. At some point, it will require the energy of the whole world to generate just one unit. And this, according to futurologists from Singularity University, will become an insurmountable obstacle for the crypto market.
However, if there are bear pessimists, then there will certainly be bull optimists. So, according to the head of ARK Investment Cathie Wood, the price of bitcoin is most correlated with real estate prices at the moment. But in the future, she believes, bitcoin will become similar to low-risk instruments like bonds and will enter the recommended portfolio of investors. “I think the first cryptocurrency will behave like fixed income markets,” Wood said to CNBC. “We have survived a 40-year bond bull market. And we won't be surprised if this new asset class becomes part of the investment portfolio. Perhaps it will be 60% stocks, 20% bonds and 20% cryptocurrency.”
The forecast, according to which the bitcoin rate may reach $1 million or more in the next 10 years, was announced by the CEO of the Kraken crypto exchange Jesse Powell. “Right now we are only guessing, but if you value bitcoin in dollars, then you must understand that its value tends to infinity", he said. In a dialogue with Bloomberg reporters, the head of Kraken also said that bitcoin could eventually replace all major fiat currencies that are not backed by gold and other precious metals. However, he agreed that there is a risk of sharp market fluctuations, and that prices could "rise or fall by 50% any day." Therefore, according to Powell, when investing in bitcoin, it is necessary to be ready to keep it in your portfolio for at least five years.


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.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market

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  #536  
Old 17-03-2021, 16:31
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CryptoNews


- Co-founder of Oaktree Capital investment company Howard Marks, with a fortune of $2.1 billion, has dramatically changed his attitude towards bitcoin. Marks called crypto currencies "unfounded fads" in 2017 The investor said that there are many things in the world that have no intrinsic value, but people want to possess them. And bitcoin is one of those things. Now the billionaire has admitted that those words were an “knee-jerk reaction” to innovation about which he had not yet had a clear idea.
Now the head of Oaktree Capital realized that bitcoin really has a lot of potential and even described the advantages of the first cryptocurrency. The most important advantage of Bitcoin according to Marks is the ability to trade it 24 hours a day while maintaining confidentiality. In addition, bitcoin has a limited supply of 21 million coins, which increases demand for them and contributes to a rise in prices. The same cannot be said for the US dollar and other fiat currencies, which are printed in huge quantities by central banks, Marks noted.

- A 38-year-old hairdresser was arrested in Romania on suspicion of stealing about $620,000 in cryptocurrency. Law enforcers found out that the detainee not only worked as a hairdresser, but also was engaged in the creation of malicious software. He hacked a large money transfer operator with its help and transferred $620 thousand to his own account in several dozen transactions.

- "Hyperinflationary collapse" of national currencies will lead to the growth of bitcoin to $220,000 this year. This is the opinion of Max Kaiser, a former trader, TV presenter and founder of the investment company Heisenberg Capital. Among other things, Kaiser is a longtime supporter of bitcoin and is known for his criticism of American economic and political models. Last summer, when the cryptocurrency was trading for about $10 thousand, he predicted its growth to $100 thousand. And, as it turned out, this was not the most daring prediction of the TV presenter.
Kaiser believes that the advantages of bitcoin in global payments make banks useless. “$5 trillion a day in the foreign exchange market can be completely replaced by bitcoin. We have realized that now it is possible to send currency from country to country instantly and practically free of charge," Kaiser said.

- Digital currencies have reached the world of sports. US fans of the Oakland Athletics California baseball team can now pay for private lodges in bitcoin. The 2021 Home Team Six-Seater Lodge Pass can be purchased for $64,800 or 1 BTC. Given the fact that at the time of writing the review, bitcoin is trading at around $55,000, it is more profitable to pay for a ticket in cryptocurrency.
The president of the club said in a comment to Sportico that the management of Oakland Athletics took such a step due to the growing popularity of cryptocurrency in California. “It is also a kind of check to see if we want to do this in other areas of our business,” he said.

- The Indian authorities will consider a bill prohibiting operations with cryptocurrencies and introducing criminal and administrative liability for miners and traders. This is reported by Reuters with reference to an unnamed high-ranking official.
The document instructs citizens to liquidate their digital assets within six months. After this period, it is proposed to levy fines from the owners. In the future, prison terms are provided for the possession, release, production, trading and transfer of crypto assets. The official refused to disclose the amount of the fines and the terms of imprisonment. However, according to him, the discussion of the document is at the final stage.
There is no official data, but according to industry estimates, about 8 million investors in India own digital assets totaling $1.4 billion at the moment.

- The author of the famous book Rich Dad Poor Dad Robert Kiyosaki has called to buy gold and bitcoin. He made this statement after the decision of the US government to allocate another $1.9 trillion to support the economy. The economist does not exclude that the dollar will be in a state of devaluation after such large-scale injections, as a result of which many investors will begin to switch to digital assets.
At the end of last year, the author of the bestselling book stated that the cost of bitcoin would soon reach $50 thousand. And it happened about a month later. A year earlier, Kiyosaki predicted that the US currency would face serious problems amid the pandemic. As a result, the dollar did accelerate the drawdown, and many stock market indices fell to lows.

- According to JPMorgan, the volume of retail investment in bitcoin in the first quarter of 2021 exceeded the investment of institutional investors, who reduced the volume of cryptocurrency purchases. Thus, retail investors purchased over 187,000 BTC tokens, while institutional purchases amounted to approximately 172,684 BTC.
According to JPMorgan strategist Nikolaos Panigirtzoglou, the decline in institutional investment may be one of the reasons bitcoin has not been able to gain a foothold above $60,000 so far. All the attention is focused on the growth of retail investment now, especially given the new round of direct payments to US citizens as part of the economic stimulus program.

- According to a study by Mizuho Securities, of the $380 billion that US citizens will receive in the form of economic assistance, about 10% can be spent on the purchase of two types of assets: bitcoin and stocks. The study found that two out of five Americans who expect to receive checks in the coming days intend to use some of these funds for investment. According to Dan Dolev, Managing Director of Mizuho Securities, bitcoin is expected to account for 60% of the total investment, which could add about 3% to the market capitalization of the cryptocurrency.

- Bitcoin has become the most profitable investment in the last 10 years and surpassed all asset classes by at least 10 times, providing an average annual return of 230%. Charlie Bilello, founder and CEO of Compound Capital Advisors wrote about this achievement.
The Nasdaq 100 came in second with an annualized return of 20%, followed by US stocks with a market capitalization of more than $10 billion with an annualized return of 14%.
Also, studies have shown that gold has shown a meager return of 1.5% per annum since 2011, and five of the last 11 years have brought losses to this asset. The precious metal has dropped 8.5% since early 2021, according to Gold Price, much to the chagrin of an implacable bitcoin critic and gold investor, President of Euro Pacific Capital, Peter Schiff.
Since 2011, BTC's combined profit has been a whopping 20 million percent. 2013 was the most successful year for bitcoin as it grew by 5507%. In addition, it is important to note that BTC has shown an annualized loss in just two years of its history: it fell 58% in 2014 and 73% in 2018.

- Spencer Schiff has decided to move his entire portfolio to bitcoin. His father, the aforementioned Peter Schiff, shared this with his Twitter readers. He expressed concern about the manipulation of fragile minds during a bull rally in the cryptocurrency market.
The famous bitcoin critic clarified that his son sold the remaining silver to buy the first cryptocurrency. “My son went for broke the last time bitcoin dropped below $50,000. 100% of his portfolio is now in Bitcoin. If my son has been so brainwashed, imagine how vulnerable most children are. He will "hodl" bitcoin indefinitely or go broke. "
The crypto community has responded positively to the complaints of the "golden beetle", expressing confidence that investing in bitcoin will make Schiff's son richer than his father. “At least someone in your family will increase their wealth this year,” wrote Anthony Pompliano, co-founder of Morgan Creek Digital.


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  #537  
Old 22-03-2021, 06:19
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Forex Forecast and Cryptocurrencies Forecast for March 22 - 26, 2021


First, a review of last week’s events:

- EUR/USD. It has become clear following the meeting of the Open Market Committee (FOMC) that the US Federal Reserve does not intend to raise interest rates until at least 2023. The Fed is not going to change other parameters of the quantitative easing (QE) program either, as long as inflation in the United States is growing, the manufacturing sector is recovering, and is pulling up the service sector. The bill signed by US President Joe Biden on a new $1.9 trillion package, according to the Fed, is quite a sufficient measure to stimulate the economy at this stage.
This position of the American regulator satisfied (or upset) both bulls and bears on the EUR/USD pair to the same extent, and as a result the pair spent the whole week in a narrow sideways channel with an amplitude of only 110 points, 1.1875-1.1985, and ended the trading session near the 1.1900 level;

- GBP/USD. As mentioned above, the US Fed refused to adjust its monetary policy. But the management of the Bank of England refused to do the same unanimously at its meeting on Thursday March 18. According to their statement, the bank "does not intend to tighten monetary policy at least until there is clear evidence of the use of untapped potential and the achievement of the 2 percent inflation target." So, one should not expect a rise in interest rates on the pound.
As a result of the identical decisions of both regulators, the GBP/USD pair continued to move sideways. Recall that last week, a third of experts voted for the growth of the pair, a third - for its fall, and the remaining third made a Solomon decision, announcing that the pair would move eastward, limiting the growth by the resistance at 1.4000, and the fall by the support at 1.3775. And this forecast turned out to be almost perfect. The fluctuations of the pair were limited to the range of 1.3800-1.4000. The last chord sounded at 1.3865;

- USD/JPY. The Japanese regulator also performed in a chorus with the US Federal Reserve and the Bank of England. The Bank of Japan left the interest rate at the same negative level, minus 0.1%, on Friday, March 19. At the same time, it will continue to buy back long-term bonds in order to maintain the yield on its 10-year securities at near zero. The statements of the Bank's management regarding the prospects for monetary policy were also consonant vague with the statements of their colleagues from the USA and Great Britain: “we are ready for changes as needed”. It is not specified what the criteria for such "necessity" are.
The result of such a “sluggish” week was the consolidation of the USD/JPY pair in an even narrower range than EUR/USD and GBP/USD. After holding in the channel 108.60-109.35 for all the five days, it finished at 108.87;

- cryptocurrencies. Bitcoin renewed its all-time high once again over the past week, reaching $61,670. This was followed by a quick rollback. However, the main currency managed to stay within the upward channel, having received support at its lower border, in the $53,300-53,900 zone. This correction attracted buyers waiting for a new opportunity for their purchases, and the BTC/USD pair is trading around $58,500 on the evening of Friday March 19.
One of the reasons that bitcoin has not yet been able to gain a foothold above $60,000, according to JPMorgan strategist Nikolaos Panigirtzoglou, was a decrease in institutional investment. Thus, the volume of retail investment in bitcoin in the first quarter of 2021 exceeded the investment of institutional investors, who reduced the volume of cryptocurrency purchases. Retail investors purchased over 187,000 BTC tokens, while institutional purchases amounted to approximately 172,684 BTC.
According to Compound Capital Advisors investment company calculations, bitcoin has become the most profitable investment in the last 10 years and has surpassed all asset classes by at least 10 times, providing an average annual return of 230%. The Nasdaq 100 came in second with an annualized return of 20%, followed by US stocks with a market capitalization of more than $10 billion with an annualized return of 14%. Also, studies have shown that gold has shown a meager return of 1.5% per annum since 2011, and five of the last 11 years have brought losses to this asset.
Since 2011, BTC's combined profit has been a whopping 20 million percent. 2013 was the most successful year for bitcoin as it grew by 5507%. In addition, it is important to note that BTC has shown an annualized loss in just two years of its history: it fell 58% in 2014 and 73% in 2018.
All these figures are impressive for some, and they are intimidating for others. For example, the head of the Visa payment giant agreed that cryptocurrencies could become widespread over the next 5 years. In addition to JPMorgan, the largest American bank Morgan Stanley has shown loyalty to digital assets, promising to provide its large clients with the opportunity to own bitcoin.
But Bank of America published the report "Little Dirty Secrets of Bitcoin" on March 17, in which it announced that this token is an exclusively speculative instrument. "Without rising prices, there is no reason to own this cryptocurrency," the report says. "The asset is impractical either as a store of value, or as a method of payment, and 95% of Bitcoin belongs to the owners of 2.4% of wallets." The bankers recalled the negative impact of BTC on the environment due to high energy costs for mining as well as the low transaction speed. Although, one can guess that it is not this that worries them most of all, but the prospect of losing a significant share of income due to the development of the crypto market.
Note that the total capitalization of the crypto market over the last week increased from $1756 billion to $1805 billion. However, it could not break through the important psychological level of $2 trillion: the maximum value of $1851 billion was reached on March 14, after which the indicators fell slightly. As for the Crypto Fear & Greed Index, it practically did not change over the week: 71 now versus 70 seven days ago.


As for the forecast for the coming week, summarizing the views 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. In general, both experts and indicators have a bearish mood. Despite the US Federal Reserve's refusal to raise interest rates until 2023, investors are still guided by a favorable economic scenario. Mass vaccinations and direct payments to US citizens should support the dollar, even though some of that $380 bn will be invested in riskier assets.
Most analysts (65%) expect the dollar to strengthen in the coming week. In their opinion, the EUR/USD pair should retest the support of 1.1835. The bearish forecast is also supported by 65% of oscillators and 85% of trend indicators on time frames H4 and D1. Recall that, from the point of view of technical analysis, the support level here is still the 200-day SMA at 1.1825. In case of its breakthrough, the next targets will be 1.1800 and 1.1745. The ultimate target is the lows of September-November 2020 around 1.1600.
As for the bulls, the resistance levels here are 1.1980, 1.2025, 1.2060 and 1.2100. And if the bullish forecast is supported by only 35% of experts now, the balance of forces changes in a mirror-like manner when switching to the forecast for April: it is already 65% who support the growth of the pair and only 35% are for its fall.
Graphic analysis also points to the pair falling. And also, not immediately. At first, according to its readings, having fought off the zone 1.1880-1.1900, the pair should rise to the level of 1.1980, and only then go south.
As for the events of the coming week, Jerome Powell's numerous speeches on March 22, 23 and 24 could be noted. However, the head of the FRS is unlikely to say anything new: everything important was already said last week. Therefore, we advise you to pay attention to the data on business activity of Markit of Germany and the Eurozone, which will be announced on Wednesday March 24. As for the American statistics, data on orders for durable goods will be published on the same day, and annual data on GDP of the United States the next day.

- GBP/USD. The head of the Bank of England Andrew Bailey is also scheduled to speak on March 23 and 25. And just like in the case of his colleague from overseas, Jerome Powell, no surprises from his speeches should be expected. Of interest may be: data on the UK labour market March 23, and data on business activity and consumer market of this country on March 25.
It is clear that the technical indicators on the GBP/USD pair on H4 are looking to the south. However, they reflect the trend of only the last two days of the past week. As for the indicators on D1, there is complete discord: the two-week sideways trend is getting visible. Graphical analysis on both time frames also indicates a sideways trend in the trading range of a week ago - 1.3775-1.4000. There is no serious preponderance in the forecasts of experts: 45% side with the bulls, 55% side with the bears. The targets are 1.4240 and 1.3600, respectively;

- USD/JPY. The further strengthening of the dollar and the growth of the pair is indicated by graphical analysis at both time intervals, H4 and D1. 85% of trend indicators and 65% of oscillators on D1 agree with it. The rest of the oscillators are either in the overbought zone or are already colored red.
As for the experts, 55% of them expect a correction to the south, although they agree that it may be short-term. However, with the transition to monthly and quarterly forecasts, the number of supporters of the fall of the pair increases to 75%.
The nearest target of the bulls is 109.50-110.00. Support levels in case the pair falls are 108.35, 106.65, 106.10 and 105.70;

- cryptocurrencies. The struggle between those who believe in the bright future of cryptocurrency and those who predict its destruction continues. This is especially noticeable among large institutional investors. And their opinion depends largely on the opinion of regulators.
The position of regulators in different countries is very different. For example, the Indian authorities have a bill nearly ready which prohibits operations with cryptocurrencies and introduces criminal and administrative liability for miners and traders. And the US head of the Fed Jerome Powell, on the contrary, does not deny the combination of traditional finance and cryptocurrencies. Although, of course, most likely he is pinning his hopes on the digital currency of the American Central Bank (CDBC).
Note that the governments of many large countries are considering the possibility of issuing digital counterparts of their own fiat currencies. And, most likely, they do not need competitors in the form of bitcoin and top altcoins at all. So, it is possible that we will see real battles between the public and private sectors in the near future, not only at national, but also at international platforms.
In the meantime, central banks continue to print unsecured money to support their economies in the fight against the COVID-19 pandemic. And according to the TV presenter and founder of the investment company Heisenberg Capital Max Kaiser, this will lead to a "hyperinflationary collapse" of national currencies and the growth of bitcoin to $220,000 already this year. Moreover, Kaiser believes that the advantages of bitcoin in global payments will render banks useless. As he stated, “$5 trillion a day in the foreign exchange market could be completely replaced by bitcoin.”
At the moment, according to analysts at JPMorgan, the main focus is on the growth of retail investment associated with the next portion of payments to US citizens as part of the economic stimulus program. According to a study by Mizuho Securities, of the $380 billion that US citizens will receive in the form of economic assistance, about 10% can be spent on the purchase of two types of assets: bitcoin and stocks. The study found that two out of five Americans who expect to receive checks in the coming days intend to use some of these funds for investment. According to Dan Dolev, Managing Director of Mizuho Securities, bitcoin is expected to account for 60% of the total investment, which could add about 3% to the market capitalization of the cryptocurrency.
Of course, 3% is a small figure. Perhaps that is why only 35% of experts believe that the main cryptocurrency will be able to steadily gain a foothold above $60,000 by the end of spring and even rise to $75,000. The majority of analysts (65%) predict bitcoin a sideways movement in the $50,000-60,000 channel.


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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  #538  
Old 24-03-2021, 17:33
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CryptoNews


- The head of the now defunct brokerage firm Stratton Oakmont, Jordan Belfort, who was a prototype for the protagonist of the movie "The Wolf of Wall Street", admitted that he held the wrong position in relation to the bitcoin. This is reported by the Fortune magazine. Digital gold seemed to be the perfect tool for money laundering, and the former broker was sure that regulators would destroy it.
Belfort remembered predicting the fall of the first cryptocurrency on a TV show in 2017. At that time, the asset was rising to the $ 19,000 mark. “I turned out to be right then,” he recalls. “But I also thought bitcoin would go away forever. It was difficult to sell and easy to buy: these are all signs of manipulation." Now, according to Jordan Belfort, the coin could rise to $100,000.

- An anonymous user fell for a trick of scammers and sent 10 bitcoins to "Elon Musk". According to the BBC, the victim saw a link to Musk's alleged resource in the comments under one of his Twitter posts. After clicking on the link, he began a dialogue with the "manager." And the latter offered to invest a certain amount in "Musk's new project", which guaranteed huge profits.
The “manager” promised that funds would double and return to the owner about 20 minutes after the investment. But even such a short period did not embarrass the victim, and he transferred 10 bitcoins to the scammers (more than half a million dollars at the current exchange rate). And only after the “manager” stopped communicating and the funds were never returned, the “investor” realized that he had become a victim of criminals.

- The price of bitcoin can rise to $300,000, after which the growth will be replaced by a long-term decline. Bobby Lee, co-founder and former CEO of BTCC cryptocurrency exchange, said this in an interview with CNBC.
“Bitcoin bull market cycles occur every four years, and the current one is a big cycle. I think that bitcoin may rise to $100,000 this summer,” he said. However, after reaching an all-time high of $300,000, even a small price decrease will cause the bubble to collapse. Lee suggested that the new crypto winter will last between two and three years. “Investors should be prepared for the fact that the value of bitcoin could fall 80-90% from its historical peak,” the entrepreneur added.

- Entrepreneur John McAfee said that the US authorities are using the case against him to crack down on cryptocurrencies. “The charges against me are absolutely ridiculous. The US is using me as a scapegoat to crack down on all cryptocurrencies. This is a simple and understandable truth,” he wrote from prison.
McAfee's lawyer Andrew Gordon noted that the digital asset regulation is still an emerging area for the IRS and the US Department of Justice, and McAfee's criminal tax evasion case is one of the first to involve cryptocurrencies. "It marks a turning point in the enforcement of cryptocurrency reporting," Gordon said, adding that "Mr. McAfee is firm in his innocence and we stand ready to convince the US federal courts."

- The head of the US Federal Reserve System Jerome Powell questioned the qualities of the first cryptocurrency as a tool for savings and payments. During his speech at the virtual summit of the Bank for International Settlements, Powell noted the high volatility of digital assets, because of which, in his opinion, they are useless as a means of accumulation. “They are not backed by anything and are used more for speculation, so they are not particularly popular as a means of payment. Crypto assets are more likely to replace gold rather than the dollar,” Powell said.

- According to a new study by analytical company Elliptic, the largest darknet market, Hydra, has a new way of exchanging cryptocurrency for fiat money. The vacuum-packed treasure with money is buried "5-20 cm underground", and the exact GPS coordinates are communicated to the buyer. The service fee is high - about 7% of the exchanged amount.
“This is an interesting way to cash out, but it requires you to be in Russia. This is where many Hydra users are based,” said Elliptic CEO Tom Robinson.
This same method has long been used to sell illegal substances such as drugs. And, as analysts point out, this is a rather risky way, since bandits sometimes pursue customers who are digging up the treasure and take away the "parcels".

- Bitcoin has proven itself once again to be the best rescuer from the ineffective state financial system. The Turkish lira has fallen in relation to the US dollar by another 14% over the past week, as a result of which the residents of Turkey have begun to actively buy bitcoins. This is confirmed by the number of relevant requests in the Turkish segment of Google: it has almost doubled over the last weekend.

- WiseMining introduced the Sato boiler based on ASIC miners, which allows you to mine bitcoins and heat water. The intermediate coolant of the boiler is a special dielectric coolant. The liquid boils and evaporates in the ASIC cooling unit, the vapor rises into the tank coil and condenses, giving off heat to the water. Condensation flows back into the cooling unit of the miner.
The developers provided the possibility of connecting this water heater to the main heating system of the room. The Sato will go on sale in April 2021 and will cost $ 8,990.

- Skybridge Capital CEO and former White House communications director Anthony Scaramucci claims Elon Musk owns more than $5 billion in bitcoin through Tesla, SpaceX and personally.
Scaramucci gave his comment in the context of discussing the negative impact of mining on the environment. “No other living person has done more to protect the planet from climate change than Elon Musk. And the idea that he would invest in a “dirty asset” is absurd. The future of bitcoin mining is renewable energy sources,” he wrote.


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  #539  
Old 25-03-2021, 15:49
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Forex PAMM Service


It is possible to make money on currency fluctuations not only by trading. Forex PAMM services allow even those who have no previous trading experience to profit from changes in prices of foreign currency assets. On the other hand, for a professional trader, the Forex PAMM service is an opportunity to increase the size of their trading capital.

What is a PAMM account

PAMM account (from English PAMM - Percent Allocation Management Module) is a special investment account connected to the account of the managing trader. The essence of its work is simple. The trader makes an offer (offer of cooperation with clearly defined conditions), and investors contribute their funds to such an account. As a result of the trading conducted by the managing trader, the profits obtained are distributed among these parties in the proportion specified in the offer.

Key participants in PAMM services

There are three main parties involved in investing in PAMM services:
1. Managing trader. This is a broker's client who has a certain trading experience, confirmed by statistics.
2. Investor. A person who invests their funds into the account of a managing trader. Profits from the results of managing trader's work.
3. PAMM service. This is a broker, for example, NordFX, where trading and financial settlements between the manager and the investor are carried out.

It should be noted that one investor can simultaneously distribute their funds among several managers, forming an optimal investment portfolio, and one manager can accept funds from several investors at the same time.

PAMM services from a manager's point of view

Any trader can become a manager. To do this, you need to register with a broker, for example, NordFX, open a PAMM account, create an offer that will reflect the trader's commission, top up the account and start trading.

By and large, the activities of a manager are not much different from standard trading, but there is one exception. All trader's results will be recorded and displayed for all to see in the form of detailed statistics. It is necessary so that investors can assess the potential of the manager and decide how well the manager's trading strategies are suitable for the investment.

In the NordFX brokerage company, investors can evaluate a manager's trading by almost 50 different parameters that allow them to predict not only potential profit, but also possible risks.

The managing trader will receive their share of the profit based on the results of their work. The rest will be distributed among all investors in the proportion specified in the offer. Moreover, all this is closely watched by the broker who provided the platform for the PAMM service, so that the trader does not have to calculate anything manually. There are no risks of conflict between the manager and investors due to miscalculations either.

What is the main advantage of a PAMM account from the manager's point of view? First of all, this is an opportunity to significantly increase your income from trading on the international Forex market. In addition to their own funds, the manager will work with investors' money and receive a percentage of the profit for this. The better the trading results, the higher the profit, the more investors will invest their funds in this manager.

As for the flaws, there are none. The manager conducts their usual trading, risks their own funds as usual and does not bear any additional responsibility to investors for the results of trading. If successful, the number of investors who want to join the trader will grow. However, if the manager is trading at a loss, there will be no people willing to join their account.

PAMM accounts from an investor's point of view

Not only those who trade on their own, but also those who, for some reason, cannot engage in trading, can make money on the international Forex market. For example, you can't make money, you don't have talent, you don't want to study, you don't have time, and so on. But even in these cases, not all is lost.

The fact is that Forex offers almost limitless opportunities for earning money. It is one of the most liquid markets, with a daily turnover of trillions of US dollars, and many traders are keen to work in it. There is no supply of real assets here, and a trader can conclude a sell transaction with numerous financial instruments, even without possessing them.

For an investor, the Forex market is an opportunity to generate passive income by investing their funds in successful managers. Although this type of work cannot be called completely passive. The fact is that the investor will have to perform a certain amount of analytical work. But it will be connected not with how to predict market fluctuations in currencies, but with how to correctly choose a trader who will be entrusted with managing investor's funds.

What are the main advantages of investing in PAMM?

There are several of them:
1. Investing in Forex through PAMM is very convenient. You, as an investor, only need to choose a suitable manager and connect to their account.
2. Full automation. You don't have to deal with any calculations and settlements. The whole process is fully automated on the broker platform.
3. Control by the broker. The risks of cheating on the part of the trader are excluded. Everything is controlled by the service that provides PAMM investment services. For example, the manager does not have access to the funds that are on the investment accounts connected to him. He or she does not have the slightest opportunity to steal investors' funds and disappear with them in an unknown direction.
4. Investors are offered a convenient investment format. The trading history and comprehensive multifactorial statistics for all managing traders are available, which allows you to evaluate their trading strategies and make competent and weighted decisions.
5. Investing in Forex using PAMM is possible without knowledge of this market. As a depositor, you do not need to dive into the intricacies of trading. All this knowledge is necessary only for the manager.
6. Possibility to create your own investment portfolio. Forex PAMM accounts make it possible for you to diversify your investments by choosing several traders with different trading styles and ratios of profit and risk.

Choosing a manager or how to create your portfolio

Investing through PAMM can be quite profitable. However, there are moments that require effort from those who are going to engage in such activities. The fact is that Forex PAMM accounts, including those at the NordF X broker, are a variety of managers. And the choice is not only about finding the most acceptable conditions in terms of the offer. As mentioned above, investing in the Forex market requires a thorough analysis of the trader’s statistics.

There are three main types of trading strategies that managers use: aggressive, balanced, conservative.

Aggressive managers usually perform well in terms of profit, which can reach hundreds or thousands of percent. But, accordingly, they have quite high risks and large drawdowns. Such accounts are more likely than others to suffer serious losses and can even lead to a complete loss of capital.

Balanced managers show average income. But the risks are also relatively low. Such PAMM Forex accounts suffer losses much less often than aggressive ones.

Finally, conservative accounts show low income. At the same time, investments in Forex with such managers pose the lowest risks. Such traders usually conduct their trading activities the longest, which is reflected in their history on the “showcase” of the PAMM service.

Which option should one choose?

This is where we come to the need to create an investment portfolio. If you plan to invest using PAMM technologies, investments are not much different from buying stocks or other instruments. Classic portfolios usually include different asset categories, both low and high-risk.

When working with PAMM brokers, such as NordFX, your task is to assemble approximately the same portfolio where risks and potential returns are balanced. That is, you can invest in all the categories of managers described above, from aggressive to conservative. As a result, you will be able to get a fairly high profit with limited risks.

In terms of percentage, there are many guidelines. Some experts believe that it would be ideal to allocate only 20% of the total account to aggressive accounts, and divide the rest between balanced and conservative. However, this ratio is not a must. You can determine how aggressive your portfolio will be and make calculations based on it.

Some recommendations for choosing PAMM accounts

And now back to the question of how to choose the most suitable Forex PAMM account. There are several important criteria to pay attention to:
1. Age of the PAMM account. This indicator is particularly important for those investors who plan to invest in aggressive strategies. The longer such managers show positive results, the more reliable they are.
2. Average monthly expected return. This indicator is made up of average monthly profits for previous periods. This way you can see how effective the trader's strategy is and what style of trading they use.
3. Maximum drawdown. This is an equally important indicator that reflects the investor's risks. The higher the maximum drawdown, the more aggressive the trader's style is, and the higher the probability of losing your funds.

Important criteria for evaluation are:
1. The used leverage. Naturally, the higher it is, the greater the load on the deposit, the greater the risks.
2. Limiting risks by the managing trader. If they make up more than 30% of the deposit, the manager either does not use stop orders, or shifts or deletes them in the expectation of a price reversal.
3. The use of various aggressive wealth management systems. The most famous in this case is the Martingale, which is described in numerous textbooks and articles on Forex. Some managers indicate the use of this approach in their offers. But even if this is not the case, it is possible to understand that the manager applies a similar method by loading the deposit and increasing losses during periods of long recoilless trends in traded currency pairs.

When planning to invest in a PAMM service, it is necessary to take into account the ratio of risk and return. This applies to a greater extent to those who will compose their own investment portfolios of managers. Many experts say that the profitability should always be 2-3 times higher than the risk. If the profitability is equal to the risk, you may face such a situation when after a certain period of time, your total profit will be equal to ... 0.

When working with PAMM services, it is very important to establish in advance the conditions for exit, that is, the completion of work with one or another manager (at least temporarily). Various criteria can be used for this, including:
1. Exceeding the maximum drawdown. This is one of the important indicators of risk that you should focus on. It says that the trader has started to work even more aggressively and there are chances of receiving serious losses.
2. Change of the manager's trading system. This is not exactly a reason to part with the manager. Rather, it is a reason for analyzing and re-evaluating the terms of this cooperation and the volume of investments. Perhaps the trader's trading system has become more flexible and efficient than in the original version. In this case, the manager can not only remain in the portfolio, but also get a larger share of investments. However, if irrational, from your point of view, changes have been made to the system, it's time to think about stopping such cooperation.


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  #540  
Old 28-03-2021, 16:40
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Forex Forecast and Cryptocurrency Forecast for March 29-April 02, 2021


First, a review of last week’s events:

- EUR/USD. The dollar has periodically changed its status since the COVID-19 pandemic started, becoming either a safe haven currency or a risky asset for investors. For example, the US currency declined amid rising stock markets in November-December 2020. And since January, the dollar began to rise along with the S&P500. Now this index is in the area of its all-time high¬: 3.795. The DXY dollar index is also quoted in the area of annual highs: 92.72.
The main reason for this volatility in the USD is the coronavirus situation and the US government's response to it. And the Fed threw in yet another riddle last week. Recall that it has become clear following the meeting of the Open Market Committee (FOMC) that the US Federal Reserve does not intend to raise interest rates until at least 2023. The Fed is not going to change other parameters of the quantitative easing (QE) program either. The bill signed by US President Joe Biden on a new $1.9 trillion package, according to the Fed, is quite a sufficient measure to stimulate the economy.
Just a few days later, Fed Chairman Jerome Powell announced that the regulator would gradually phase out $120 billion in monthly asset purchases from the moment the US economy almost fully recovers. And this, according to forecasts of the Fed itself could happen this summer.
So, it turns out that the Government and the Senate may start a debate on winding down QE in the near future. But what about the information that the Biden Administration is now discussing another new package of fiscal stimulus for another $3.0 trillion?
The market "sided" with Jerome Powell this time, and the dollar continued to strengthen its positions. As predicted by the main forecast, which was voted for by the majority of analysts (65%), the EUR/USD pair went down, broke through the support at the 200-day SMA at 1.1825, and dropped to the 1.1760 horizon. This was followed by a slight rebound and a finish at 1.1790;

- GBP/USD. After a two-week stay in the sideways channel 1.3775-1.4000, the widespread strengthening dollar pulled the pair down. 55% of the experts were on the side of the bears, and they were right. The GBP/USD pair reached the local bottom at 1.3670 on Thursday, March 25, after which it returned to the lower border of the side channel, which turned from support to resistance. The last chord of the week sounded near it, at the level of 1.3790;

- USD/JPY. The large-scale correction of the pair to the south never happened. Just 50 points were enough for the pair: having dropped to the level of 108.40, it turned around and went north again, following the strengthening dollar. The nearest target of the bulls was designated the height of 110.00, and the pair almost reached it: the week's high was fixed at 109.85. After that, it declined slightly and completed the working five days at 109.67;

- cryptocurrencies. The forecast for the past week, which was supported by the majority of experts, was not most optimistic for the bulls. It assumed the cessation of growth, the breakdown of bitcoin's lower boundary of the upward channel and its lateral movement in the range of $50,000-60,000. Unfortunately for investors, this is exactly what happened. The BTC/USD pair was at a height of $60,000 on March 20, but it found a local bottom at around $50,290 on Thursday March 25. And if the fall in bitcoin was 16%, then some of the top altcoins lost about 25% in price.
One of the few that won was ripple. Starting at $0.4652 seven days before, it peaked at $0.5955 on March 22, and was trading at $0.5450 by the evening of Friday March 26.
In general, as we predicted, the crypto market turned out to be overheated. Elon Musk's statement that bitcoins accepted as payment for Tesla cars would no longer be converted into dollars did not help it either. such information could have pushed the market high up not so long ago, but now it has given only a small short-term impulse.
According to Skybridge Capital CEO and former White House communications director Anthony Scaramucci, Tesla has about $1.5 billion in BTC at the moment. In total, Elon Musk owns little more than $5 billion in bitcoins through Tesla, SpaceX and personally. Perhaps this is no longer enough, and bitcoin needs more powerful locomotives than Tesla or MicroStrategy to move the market up.
But just a few words from regulators such as the US Fed are enough to push it down. The head of the US Federal Reserve System Jerome Powell questioned the qualities of the first cryptocurrency as a tool for savings and payments. During his speech at the virtual summit of the Bank for International Settlements, he noted the high volatility of digital assets, because of which, in his opinion, they are useless as a means of accumulation. “They are not backed by anything and are used more for speculation, so they are not particularly popular as a means of payment. Crypto assets are more likely to replace gold rather than the dollar,” Powell said.
The fall of BTC/USD was evidently affected by the fall of the S&P500, with which such a risk asset as “digital gold” correlates more and more. Traders have closed about 240,000 positions over the past few days, and the total capitalization of the crypto market has decreased from $1805 billion to $1,680 billion. The Crypto Fear & Greed Index moved from 71 to the central zone during the week and is at 54, which is flat. However, it is possible that this is only a lull before the storm.


As for the forecast for the coming week, summarizing the views 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. There are three main factors on the side of the American currency. The first is the successful vaccination of the population, including not only the results already achieved, but also the promise of President Biden to vaccinate 200 million US residents in the first 100 days of his stay in the White House. The second factor is the growing attractiveness of government bonds for foreign investors. And the third factor is the strength of the US economy, which is capable of lifting the economies of many other countries along with itself.
Europe has none of these factors. ECB Vice President Luis de Guindos did say that if vaccination in the Eurozone increases sharply by the summer, then Europe will face a sharp economic rise in Q3 and Q4. But these are just words.
At the moment, 70% of experts expect the dollar to continue strengthening and the EUR/USD pair to decline to the 1.1640-1.1700 zone. The ultimate target is the lows of September-November 2020 around 1.1600. This forecast is supported by 85% of trend indicators on H4 and 100% on D1, as well as 75% of oscillators on D1. The remaining 25% give signals that the pair is oversold.
Note that graphical analysis indicates that the euro may strengthen to 1.1880 in the coming days on both time frames, and the pair will go south only after that.
It should also be noted that when switching from a weekly to a monthly forecast, it is already 60% of analysts who vote for the growth of the EUR/USD pair. The targets are 1.2000 and 1.2200.
As for the events of the coming week, the release of data on the consumer markets in Germany on March 30 and the Eurozone on March 31 should be considered, as well as data on the US labor market on Wednesday March 31 (ADP report) and Friday April 02 (NFP). The speech of U.S. President Joe Biden on March 31 is also of interest. Markets will wait for signals from him regarding the steps that his administration will take to speed up the recovery of the country's economy;

- GBP/USD. We will receive UK GDP data for Q4 2020 on Wednesday, the last day of March. According to forecasts, the indicator will remain at the previous level of 1%. This is unlikely to add optimism to investors, but it will not upset them either. Therefore, 50% of them vote for the sideways trend, 40% for the strengthening of the dollar and only 10% for the strengthening of the British pound.
The technical analysis readings are as follows. On H4: 50% of the oscillators point to the north, 50% to the south. The trend indicators have a similar pattern. D1 is dominated by red. 65% of oscillators and 70% of trend indicators are colored red.
The nearest support levels are 1.3760, 1.3700, 1.3670, resistance levels are 1.3820, 1.3900, 1.3960. The targets are 1.4000 and 1.3600, respectively;

- USD/JPY. The pair reached a nine-month high at 109.85 last week, showing an impressive increase of almost 730 points over the past three months. This suggests that such traditional safe havens, which is the yen, are now of little interest to investors.
It is unlikely that the Tankan index will greatly affect the market sentiment. Published by the Bank of Japan, this index reflects general business conditions for large manufacturing companies. Tankan is an economic indicator of Japan, which is heavily dependent on export-oriented industry. The index value above 0 is positive for the yen, the value below 0, respectively, is a negative factor. However, according to forecasts, the value of the index, which will be published on Thursday April 01, will not be higher or lower, but equal to 0. This is a neutral value. Although, it is possible that it will support the Japanese currency somewhat, since Tankan was at minus 10 a quarter earlier. But it is likely to be only a small correction of the USD/JPY pair to the south.
Overall, most analysts (60%) remain bullish, expecting it to consolidate above the 110.00 horizon. The targets are 111.70 and 112.20. 100% of trend indicators and 75% of oscillators agree with this scenario. The remaining 25% give signals that the pair is overbought.
The remaining 40% of experts, supported by graphic analysis, still hope for a long-awaited correction to the south. At the same time, when moving to monthly and quarterly forecasts, their number increases to 75%. Support levels in case the pair falls are 109.00, 108.60, 108.40, 106.65. The target is zone 106.00;

- cryptocurrencies. It was noticed that not only plants start growing in the spring, but also bitcoin quotes. So, the BTC/USD pair rose in April by an average of 40% for the past three years. That is, this time it should be somewhere in the area of $70,000-75,000 by the end of April. Call options with expiration on April 30 show similar expectations. Those are now open at a price of $80,000 on derivative exchanges for a total of $240,000,000. Its active withdrawal to cold wallets continues in anticipation of a new growth cycle for the main cryptocurrency.
We have already talked more than once about the support package for the US economy in the amount of $1.9 trillion, of which, according to a study by Mizuho Securities, US citizens can spend $20-25 billion on the purchase of cryptocurrency. Following this anti-Covid package, another one is possible, in the amount of $3.0 trillion. And if adopted, it would also benefit the crypto market.
But all this is in the future. In the meantime, 60% of analysts believe that the BTC/USD pair will move along the Pivot Point of $50,000 for the next one or two weeks, fluctuating in the $46,500-56,000 range.
If we talk about a long-term forecast, according to the co-founder and former CEO of the BTCC cryptocurrency exchange Bobby Lee, the price of bitcoin can rise to $300,000, after which the growth will be replaced by a long-term decline. “Bitcoin bull market cycles occur every four years, and the current one is a big cycle. I think that bitcoin may rise to $100,000 this summer,” he said. However, after reaching an all-time high of $300,000, even a small price decrease will cause the bubble to collapse. Lee suggested that the new crypto winter will last between two and three years, and "investors should be prepared for the fact that the value of bitcoin could fall 80-90% from the historical peak."
And in conclusion of the review, we present you the next "miracle device" in our micro-heading "Crypto Life Hacks". WiseMining has recently introduced the Sato ASIC miner boiler that allows you to heat water by mining bitcoin. The intermediate coolant of the boiler is a special dielectric coolant. The liquid boils and evaporates in the ASIC cooling unit, the vapor rises into the tank coil and condenses, giving off heat to the water. Condensation flows back into the cooling unit of the miner. The developers provided the possibility of connecting this water heater to the main heating system of the room. Sato sales will begin as early as this April.
And one more "life hack", from the criminal world. According to a new study by analytical company Elliptic, the largest darknet market, Hydra, has a new way of exchanging cryptocurrency for fiat money. The vacuum-packed treasure with money is buried "5-20 cm underground", and the exact GPS coordinates are communicated to the buyer. This same method has long been used to sell illegal substances such as drugs. However, it is quite risky, as bandits sometimes track down customers and take away "the parcels". The consequences in this case are unpredictable.


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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  #541  
Old 31-03-2021, 17:26
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CryptoNews


- The capitalization of bitcoin for the first time exceeded $1 trillion in mid-February. And, although many analysts doubt the continued growth, ARK Invest CEO Catherine Wood believes that the first trillion in the capitalization of the first cryptocurrency is only the first step.
“If we calculate the potential demand for bitcoin, given the limited supply of coins, we get huge numbers in the long run. Now is just the beginning, and the capitalization of $1 trillion is nothing compared to the indicators of the future, "- said the CEO of ARK Invest at a conference held by the Chicago Board Options Exchange.
The demand for bitcoin from institutional investors who are trying to hedge inflation risks with cryptocurrencies has become one of the most important things. At the same time, they buy bitcoin for a very long time and increase the number of coins withdrawn from circulation.
“We see Square, Tesla, MicroStrategy and others buying bitcoin. Cryptocurrencies dominate the business of these companies now. And the announcement of the sale of Tesla for BTC will allow you to do business in any region without wasting time and money on exchanging fiat currencies." So, the current position is only the beginning of a bullish cycle, Catherine Wood emphasized.

- The PayPal payment system is going to provide its customers with the opportunity to pay in bitcoins in all stores that are partners of the company in the near future. We are talking about approximately 29 million retail outlets around the world. According to Reuters, in addition to the main cryptocurrency, PayPal also plans to introduce support for payments in Bitcoin Cash, Ethereum and Litecoin. Reuters noted that it is not about direct payment of goods and services with the help of bitcoin and other cryptocurrencies. All assets will be automatically converted to fiat in real time. This will make the option available in all countries where PayPal operates.
It will also be possible to transfer funds in real time to debit or credit cards. PayPal CEO Dan Shulman noted that there will be no fees for cryptocurrency transactions.

- Miami Mayor Francis Suarez wants to make the city the hub of bitcoin mining. According to him, 90% of miners extract the first cryptocurrency using "dirty energy" outside the United States. “This is the reason why bitcoin mining is considered a dirty business,” said Suarez.
According to him, the United States is ready to provide large bitcoin miners with access to renewable energy sources. He is confident that America should mine more digital gold, including for reasons of national security and environmental protection. “We have nuclear, which means clean energy, which is practically unlimited,” added Suarez.
According to the bitcoin energy consumption index Digiconomist, the indicator renewed its all-time high on March 28: the annual consumption reached 89.9 TWh.

- Enthusiasts used the Game Boy handheld gaming system to mine cryptocurrency. A video about this was released on a YouTube channel. Only the 4 MHz Sharp processor installed in this game console was used directly for mining. The system issued a 0.8 H/s hashrate. However, the result is not very encouraging: with a bitcoin rate of about $55,000, it will take 50 thousand years to mine $1.

- Latvian airBaltic was the first airline in the world to add bitcoin as a way to pay for its flights. According to the company, about 1000 customers have used this option since its integration. And now airBaltic has added the ability to buy tickets with Ethereum, Dogecoin, Bitcoin Cash, USD Coin, Binance Dollar, Gemini Dollar and Paxos. Airline prices are denominated in euros. The BitPay payment service automatically converts cryptocurrencies into fiat upon purchase.

- Popular cryptocurrency analyst Willy Woo said that we will see the final stage of the explosive growth of the first cryptocurrency this year, which will be the last for a three-year "bullish cycle". Now the bitcoin rate is at a local bottom and there is no point in selling your BTC reserves. On the contrary, this is a good time to develop the position.
“You have to be crazy to sell right now. At the bottom, bitcoin is now being bought up in huge volumes,” the analyst noted. In support of his statement that bitcoin is unlikely to decline anytime soon, Woo recalled large-scale transfers of BTC from the Coinbase cryptocurrency exchange to cold wallets - this suggests that the "whales" are buying and are waiting for the growth of the first cryptocurrency.

- Canadian mortgage broker Mogo with a capitalization of $435 million has launched a new program: the users will be able to receive cashback up to $2,460 when applying for a mortgage and use it to buy bitcoins. The program works both when applying for a new mortgage, and when refinancing an existing one.
“Given the volatility and speculative nature of bitcoin, more Canadians are looking for an opportunity to participate in BTC trading without investing their own money. Our program is designed for just such customers,” explained David Feller, CEO of Mogo.

- During the current cycle, the price of the cryptocurrency has risen by almost 500% since October and has updated highs above $60,000. Bitcoin rallied during the first two months of 2021 but ran into a hurdle in March. Historical data shows that bitcoin may continue to rise in April after the March rollback.
“The season may be the determining factor. - Danny Scott, head of CoinCorner exchange, said in a conversation with Forbes. - April always stands out because it marks the end of the UK and US tax period. If we start from historical information, April may well end with an upswing."
So, the data shows that bitcoin has risen by an average of 51% in April over the past 10 years. If this scenario is repeated, its price may be around of $80,000 by the end of the month.
There were only two negative months of April: in 2014 (minus 6%) and in 2015 (minus 4%). But both of these times happened on bearish cycles, and therefore it is worth taking into account the "current sentiment in the industry." “Now we are, by and large, experiencing a bullish period, and momentum is consistently forming every week,” said Scott.

- Norwegian billionaire and investor Oystein Stray Spetalen was actively criticizing bitcoin on March 18. “The only conclusion I came to in the course of my analysis is that bitcoin consumes as much electricity today as the whole of Norway. This is extremely harmful to the environment. - he was indignant at the DNB conference. - The authorities and the EU should immediately ban it. This is just nonsense. The existing payment systems are doing an excellent job with their tasks."
And now, just a few days later, Spetalen unexpectedly announced during an interview with Finansavisen that he had become an investor in the Norwegian crypto exchange Miraiex. “When facts change, so do I. I met with the founders of Miraiex and realized I was wrong. And when I read that Kjell Inge Rokke also joined bitcoin, the choice became obvious. I can’t allow him to make money, but me not,” Spetalen said.
For reference: Norwegian industrial tycoon and billionaire Kjell Inge Rokke opened a 500 million kroner ($ 58.6 million) Seetee company to invest in bitcoin in early March.


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  #542  
Old 04-04-2021, 12:18
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Forex Forecast and Cryptocurrencies Forecast for April 05 - 09, 2021


First, a review of last week’s events:

- EUR/USD. The U.S. economy continues to recover vigorously. This is evidenced by the impressive data from the labor market. Thus, the number of new jobs created outside the agricultural sector (NFP) has almost doubled compared to the previous period (growth from 468K to 916K) and, moreover, has exceeded the forecast (647K) by almost a third. The ISM Manufacturing PMI has risen from 60.8 to 64.7. Also, according to the ADP report, the employment rate in the private sector has increased from 176K to 517K. All this suggests that fiscal stimulation of the economy and the injection of money into it is working. But is it good for the dollar?
Of course, this scheme also includes yields on long-term US government bonds, as well as the prospects for monetary policy for the next few years. Investors are sensitive to statements by Fed Chairman Jerome Powell on the possibility of curtailing the quantitative easing (QE) program and raising the interest rate.
On the one hand, according to the statements of the management, the Federal Reserve System does not intend to raise interest rates until at least 2023. The Fed is not going to change other parameters of the quantitative easing (QE) program either, believing that injecting $1.9 trillion into the economy will be quite enough. But on the other hand, US President Joe Biden presented a massive $2.25 trillion infrastructure spending plan on Wednesday March 31, along with a financing scheme through tax increases. If, indeed, these funds arise not at the expense of the printing press, but at the expense of an increase in the tax load, this will mean the curtailment of QE, and will entail the flow of capital from the stock market to the government bond market.
But while this is all just planning, the market has frozen in anticipation, and the EUR/USD pair has moved into a sideways trend. As predicted by the majority of experts (70%), the dollar continued to strengthen at the beginning of last week, and the pair came close to 1.1700. But then, largely thanks to Biden's new plan, it turned around and went up. However, this rebound can hardly be called a trend change. The pair just returned to where it had been on March 25-30. It completed the trading week in the same zone, at the level of 1.1760;

- GBP/USD. In general, the chart of this pair was similar to the chart of EUR/USD, with only one fundamental difference. If the euro continues to retreat against the dollar, the British pound, albeit with difficulty, is trying to hold the defense. This time, the UK GDP growth for the fourth quarter of 2020 to 1.3%, as well as the revised upward index of business activity came to help it.
Let us remind that, when making a forecast for the previous week, 40% of experts voted for the strengthening of the dollar, 10% for the strengthening of the pound and 50% for the sideways trend. And in general, everyone was right. The pair both fell to 1.3705, and grew to 1.3850, and eventually finished only 40 points above the start. Having started the five-day week at 1.3790, it completed it at 1.3830;

- USD/JPY. Most analysts (60%) had expected this pair to consolidate above the 110.00 horizon. 100% of trend indicators and 75% of oscillators had agreed with this scenario. And it turned out to be absolutely true. The pair has been relentlessly moving north since January 6 and it renewed this year's high on Wednesday March 31, reaching 110.95. The long-awaited correction to the south did not happen again, and the pair ended the trading session at 110.65;

- cryptocurrencies. Bitcoin is storming the $60,000 threshold again. At the time of writing, the maximum it has reached so far is $60,170. However, as soon as the benchmark cryptocurrency approaches this milestone, another wave of sales follows, causing a pullback. However, these ebbs are not large enough. And this suggests that there are fewer and fewer people willing to part with bitcoin at this level. Investors are waiting for a leap up. And these small corrections just give them the opportunity to replenish their stock of tokens on the pullback.
A huge number of bitcoins are flowing into cold wallets, which indicates that the "whales" institutions are set for the further growth of BTC and see it as an asset for long-term investments. The news background also contributes to this. “We see Square, Tesla, MicroStrategy and others buying bitcoin,” says ARK Invest CEO Catherine Wood. - Now cryptocurrencies determine part of the business of these companies. And the announcement of the sale of Tesla for BTC will allow you to do business in any region without wasting time and money on exchanging fiat currencies." The major payment system, PayPal, has also joined the crypto race. it intends to provide its customers with the opportunity to pay in bitcoins in all stores that are partners of the company, and there are approximately 29 million of them around the world. According to Reuters, in addition to the main cryptocurrency, PayPal also plans to introduce support for payments in Bitcoin Cash, Ethereum and Litecoin.
We can talk about the gradual adoption of cryptocurrencies in various sectors of the economy at the moment. However, large investors are still very worried about the attitude of regulators to this type of assets. And, first and foremost, the US authorities. According to a number of analysts, while bitcoin and the main altcoins act as a store of value and speculation, the American regulator turns a blind eye to it. But as soon as bitcoin begins to compete with the dollar as a means of payment and international payments even a little, the attitude of the authorities can change dramatically. And it is not at all excluded that the initiatives of PayPal and other payment systems will cause a negative reaction from them. An example of this is Facebook's Libra, which was strangled in the bud.
In the meantime, as mentioned, the main cryptocurrency is trying to gain a foothold above $60,000, and the total market capitalization is trying to exceed the most important psychological level of $2.0 trillion. It reached a volume of $1.993 billion on the first day of April, but it rolled back to the level of $1.936 billion on Friday. It is noteworthy that the dominance of bitcoin in the market has slightly decreased over the past 7 days: from 59.56% to 57.88%. Moreover, its share in the crypto market literally fell to 55.50% on April 1. The reason for this is the closure of long positions when the BTC/USD pair reached the horizon of $60,000.
The Crypto Fear & Greed Index has started to rise again. It rose by 20 points over the week, from 54 to 74, and came close to the strongly overbought zone.

continued below...
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  #543  
Old 04-04-2021, 12:20
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As for the forecast for the coming week, summarizing the views 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. Europe is preparing for a new wave of coronavirus. The rate of vaccination, although growing, is slow. Only 16.5% of the EU population has received at least one injection so far, compared to 45.6% in the USA. The situation could be aggravated by another month of lockdowns. Coupled with the absence in the EU of a plan to stimulate an economy similar to the American one, it could provide additional support to the dollar and put pressure on the euro.
Analysts from Japanese bank Daiwa Securities note that dollars are now being bought not only by speculators but also by asset managers. And in their opinion, the USD DXY index will go up while the American economy improves and Treasury yields rise. This scenario is also supported by experts from Nordea Markets, according to whom the EUR/USD pair is expected to decline to the level of 1.1500.
On the other hand, excessive US stimulus measures could overheat the US economy. In addition, according to the WTO estimates, the surplus of dollars in the country will lead to an increase in demand for imports by 11.4%. Most of this demand will be met by exports from Asia and Europe. And if the countries of the Eurozone radically accelerate the rate of vaccination, then the preponderance will be on the side of the European currency.
It is clear that graphical analysis, 75% of oscillators and 95% of trend indicators on D1 are still colored red at the moment. However, the remaining 25% of the oscillators are already signaling that the pair is oversold. The picture is completely different On H4: about half of the indicators have switched to green.
As for the opinion of experts, the pair is expected to grow next week by 55% of them, however, when switching to the monthly forecast, their number grows to 65%. The bears' goals are 1.1700 and the low of November 2020 at 1.1600. The goals of the bulls are 1.1885 and 1.2000.
As for the events of the coming week, we can mention the publication of the ISM index of business activity in the services sector on Monday 05 April, the publication of the minutes of the US Fed's FOMS meeting on Wednesday 07 April and a speech of the head of the organization, Jerome Powell, on Thursday 08 April;

- GBP/USD. The British currency may continue to grow, as it did in the first two months of 2021. Especially so if there is a return to the country of major capital that fled from it due to Brexit. The pound is also supported by the successes of the early stages of vaccination against COVID-19. However, this may not be enough due to the problems after the UK exit from the EU, the impressive trade deficit and the country's budget deficit.
However, the majority of experts (65%) are quite optimistic about the future of the British currency at the moment. 15% predict its weakening, and the remaining 20% insist on a sideways trend.
The 1.3850 level can be designated as the support/resistance zone of the last eight weeks. It is the lateral movement along it that graphical analysis draws. On H4, the borders of the trading range look like 1.3755-1.3850. On D1, they are naturally much wider, 1.3670–1.4000.
85% of oscillators and 70% of trend indicators on D1 look north. Also, the green has an advantage among trend indicators on H4: those are 75%. But as for the oscillators, here 60% are painted in neutral gray, and 20% - in red and green;

- USD/JPY. It has been repeatedly written that the rate of this pair is greatly influenced by the yield of US Treasuries. However, the Bank of Japan has not been able to decide how to respond to rising yields on US securities and what to do with its own. If the yield on 10-year US bonds and commodity prices continue to rise, and the Japanese regulator does not respond to this, it could hit the yen hard. And it has already suffered quite tangible losses, having lost more than 800 points to the dollar over the past three months.
Currently 85% of the trend indicators on H4 and 100% on D1 are facing north. 60% of the oscillators on H4 and 65% on D1 are looking in the same direction, the rest signal that the pair is overbought.
And a very interesting and unexpected picture emerged during a survey of analysts. Giving a weekly forecast, 70% of them were in favor of a correction to the south and 30% - for a sideways trend. The number of votes cast for the growth of the pair is 0. Moreover, when switching to a monthly forecast, the number of bears' supporters grows to 90%. The graphical forecast on both timeframes also supports the bearish scenario. Support levels are 110.35, 109.85, 109.00 and 108.50. The nearest resistance level is 111.00, the targets of the bulls are 111.70 and 112.20;

- cryptocurrencies. As has been noted many times, the "whales" store large stocks of bitcoins in cold wallets. According to Glassnode, not only the volume of frozen crypto assets is growing, but also the number of such long-term investors. For example, the Norwegian billionaire Oystein Stray Spetalen changed his attitude towards bitcoin in just one day! Back on March 18, he actively demanded that the EU authorities ban the cryptocurrency. And a day later ... he became an investor in the Norwegian crypto-exchange Miraiex, stating that "when the facts change, I also change." Another Norwegian billionaire, Kjell Inge Rokke, who opened a special company to invest in bitcoin, may have caused this turnaround. "I can’t let him make money, but me not," Spetalen said.
So, will there be an opportunity to make money on bitcoin anytime soon? During the current cycle, the price of the cryptocurrency has risen by almost 500% since October 2020 and has updated highs above $60,000. Bitcoin rallied during the first two months of 2021 but ran into a hurdle in March. However, according to a number of experts, historical data indicate that after the March rollback bitcoin's growth may continue in April. “The season may be the determining factor. - Danny Scott, head of CoinCorner exchange, said in a conversation with Forbes. - April always stands out because it marks the end of the UK and US tax period. If we start from historical information, April may well end with an upswing."
So, the data shows that bitcoin has risen by an average of 51% in April over the past 10 years. If this scenario is repeated, its price may be around of $80,000 by the end of the month. There were only two negative months of April: in 2014 (minus 6%) and in 2015 (minus 4%). But both of these times happened on bearish cycles, and therefore it is worth taking into account the "current sentiment in the industry." “Now we are, by and large, experiencing a bullish period, and momentum is consistently forming every week,” said Scott. If we apply Fibonacci levels to the charts of the BTC/USD pair, then the next targets for it may be the levels of $73,000 and $92,000.
It is appropriate to quote here the opinion of the popular cryptocurrency analyst Willy Woo, who said that we will see the final stage of the explosive growth of the first cryptocurrency rate this year. But it will also be the last one for a three-year bull cycle. Now the bitcoin rate is at a local bottom and there is no point in selling your BTC reserves, Woo thinks. “You have to be crazy to sell right now. At the bottom, bitcoin is now being bought up in huge volumes,” the analyst noted, citing the statistics of the Coinbase cryptocurrency exchange as an example. It is surprising that with such optimism of individual crypto enthusiasts, 70% of analysts expect not growth, but, on the contrary, a fall in the BTC/USD pair to the $50,000 mark during April.
And in conclusion of the review, we present you the next "miracle device" in our traditional micro-heading "Crypto Life Hacks". A group of enthusiasts adapted the Game Boy portable game console for cryptocurrency mining. A video about this was released on a YouTube channel. Only its 4 MHz Sharp processor was used directly for mining. However, this invention is unlikely to make the craftsmen millionaires: tests have shown that with a bitcoin rate of about $55,000, they will need 50 thousand years to mine $1.


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.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market

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  #544  
Old 06-04-2021, 16:57
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March 2021 Results: Three Most Successful NordFX Traders Earned Over $100,000




NordFX Brokerage company has summed up the performance of its clients' trade transactions in March. If earlier traders from China, India, Sri Lanka and Vietnam waged an active struggle for leadership, all three steps of the podium were occupied by representatives of China last month.

The highest monthly profit, $66.377, was received by a client, account No. 1179XXX, mainly on transactions with gold (XAU/USD) and bitcoin (BTC/USD).

The second place in the rating of the most successful traders was taken by the owner of account No.1545XXX, who earned $26,142 on transactions with the main cryptocurrency.

And, finally, in third place is a trader, account No.1530XXX, with a profit of $16.977, among whose main trading instruments are the pairs XAU/USD and GBP/USD.

The passive investment services:
- in CopyTrading, the largest increase of 507% in March was shown by the VN.NO1 signal, however, its maximum drawdown was quite impressive, 63.65%. In the “middle” category, we can note the RED DOG signal: a profit of 34.86% with a drawdown of 23.25%. And, finally, among the most non-aggressive signals, Follow Trend attracts attention, it showed quite a good growth of 15.25% in March with a drawdown of only 4.18%.
- in the PAMM service, one should note the manager under the nickname GoodCandles5000: the growth for the month on his account was 26.77%, the maximum drawdown was 9.88%.

Among the IB partners, NordFX TOP-3 is as follows:
- the largest commission, $12,878, was accrued to a partner from Sri Lanka, account No.1483xxx;
- next is a partner from India, account No.1527xxx, who received $6,593;
- and, finally, a partner from India, account No.1491xxx, who received $4,855 as a reward, closes the top three.



Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.


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  #545  
Old 07-04-2021, 14:11
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CryptoNews


- Attackers demanded 5 BTC (about $275,000), threatening to detonate bombs in two business centers of St. Petersburg, the second largest city in Russia. According to local media reports, the Fort Tower and Renaissance Park business centers received ransom threats by e-mail. However, no explosive devices were found after people were evacuated and buildings were inspected. The police are looking for extortionists.

- Investor and TV star Kevin O'Leary said in a comment to CNBC that he would only buy eco-friendly digital gold. According to him, within a year or two, the crypto community will divide bitcoin into two types: "clean", that is, mined using renewable energy, and "dirty" or "bloody" - mined using "dirty energy."
O'Leary added that environmental concerns were coming to the fore with regard to digital gold. “I don’t buy coins if I don’t know where and when they were mined. Not from China. No “bloody” coins,” the investor said. However, he did not specify where he buys "clean" bitcoin and how he determines its origin.
According to analysts' calculations, the annual emissions into the atmosphere from cryptocurrency mining are about 60 million tons of carbon dioxide. In other words, $1 billion worth of bitcoin mining is equivalent to annual carbon emissions from 1.2 million cars.

- According to CoinDesk, the Sacramento Kings NBA basketball club will provide an opportunity for the team and support staff to get paid in the first cryptocurrency. This was stated by its owner. The club plans to give official confirmation this week. The publication believes that such a move will secure the Kings a status as the most crypto-friendly professional sports team in the United States.

- Experts of the JPMorgan bank called the rate of $130,000 as the long-term goal for the first cryptocurrency, having lowered the bar from $146,000 due to the fall in gold quotes, Business Insider reports.
The bank's analysts made such a forecast based on the calculation of the theoretical capitalization of the first cryptocurrency in the event of an inflow of funds from the gold market, for which the cryptocurrency is becoming a digital alternative. According to JPMorgan, the precious metal has outflowed $20 billion since mid-October, while companies have poured $7 billion in bitcoin.
The long-term target for the cryptocurrency rate is based on the idea that its volatility and the volatility of gold will converge. But the bank recalled that this is a long-term process: the realized three-month asset volatility is 86% and 16%, respectively so far.

- The famous American rapper Snoop Dogg said that he is a big bitcoin supporter. “I believe in bitcoin and the technology that makes global interaction possible,” he said.
The rapper has already become familiar with the volatility of the crypto market and understands that the fall in price does not reflect the initial value of the asset. Price is not the main determinant of the reliability of the leading cryptocurrency for him. “I don't follow the coin rate too much, because I've been on the market for a long time and got used to rate jumps. I am sure that bitcoin is for a long time, ”says Snoop Dogg. “The future is happening right before our eyes. I don't think bitcoin is just a consequence of the pandemic. It only adds fuel to the fire. "

- Many "bitcoin bulls" in the expert environment say that the largest digital currency will be able to bypass gold in terms of capitalization in the future. In this case, the value of all bitcoins should grow 10 times and exceed the $11 trillion mark. The authors of the study conducted by Ark Invest, stress that this could happen over the next few years. "We believe that bitcoin is better than gold and it's safe to say that it will capture gold market share or even more."
Commenting on a recent speech by the US Treasury Secretary in which she criticized bitcoin, Ark Invest experts say Janet Yellen used outdated arguments when she said that criminals were using cryptocurrency for money laundering.

- Billionaire and founder of the crypto bank Galaxy Digital Mike Novogratz agrees with the forecast of Ark Invest. He stated In a comment for CNBC that he was shocked by the pace of digital asset adoption. The investor also admitted his previous forecast of the price of the first cryptocurrency of $60,000 too conservative. “Bitcoin is on the inevitable path to reaching and exceeding the capitalization of gold,” said Novogratz.
According to CompaniesMarketCap, the total market value of gold at the time of writing is $10.8 trillion. According to CoinGecko, the capitalization of the first cryptocurrency is around $1.1 trillion.

- Domain name registrar GoDaddy put up Roger Ver's Bitcoin.com domain for sale for $100 million earlier this week. Upon discovering the ad, the owner said it was “100% fake” and contacted GoDaddy with a demand to remove the domain from sale. And that was done. At the same time, there were no official comments and explanations from GoDaddy representatives.

- Rich Dad Poor Dad author, investor and entrepreneur Robert Kiyosaki has suggested in a recent interview that bitcoin could reach a value of $1.2 million over the next five years. Kiyosaki first bought the cryptocurrency last year when it was trading at $9,000 after the pandemic actually shackled the global economy. “I wish I could buy it for 10 cents, like many people did, but I still look like a genius because today it costs about $55,000. I think that in another five years it will grow to $1.2 million,” the entrepreneur announced.
At the same time, even though Kiyosaki has turned into a defender of bitcoin, he still prefers gold and silver for main investments, explaining this by the fact that the cryptocurrency is outside the regulatory field.

- Large investment bank Morgan Stanley has filed an application with the US Securities and Exchange Commission (SEC), according to which 12 funds of the bank will be able to invest in BTC. Each of the funds indicated in the application will be able to place up to 25% of the capital in the first cryptocurrency. “Certain funds can indirectly invest in bitcoin through fiat-settled bitcoin futures or through investments in the Grayscale Bitcoin Trust (GBTC). The investments will go through a subsidiary registered in the Cayman Islands. At the same time, the fund may not have investments in bitcoin at a certain point,” the application says.

- Billionaire Mark Cuban revealed that he has concentrated 60% of his cryptocurrency investment portfolio in bitcoin, 30% in Ethereum, and 10% in other digital assets. Cuban called bitcoin the best alternative to gold, and Ethereum - the most similar to a real currency. “I wish I had bought Ethereum earlier. I started doing this only four years ago,” added Cuban, and compared the growth of Ethereum to the development of the Internet in the late 90s.
According to him, it is this altcoin that matches his ideas about the correct form of money due to its decentralized economy based on smart contracts.


#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #forex #cryptocurrencies #bitcoin #stock_market

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  #546  
Old 09-04-2021, 16:30
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Super Lottery: NordFX Gives Away 100,000 USD to Traders




The $100,000 Super Lottery was launched by the brokerage company NordFX among its clients on April 1. The name speaks for itself: 100 cash prizes of $500, $1,000, $2,500 and a super prize of $ 20,000 will be drawn by the year end.

It is quite easy to take part in the lottery and get a chance to win one or even several of these prizes. It is enough to have a Pro account in NordFX (and for those who do not have it - register and open a new one), top it up with $200 and... just trade.

Having made a trading turnover of only 2 lots in Forex currency pairs or gold (or 4 lots in silver), the trader will automatically receive a virtual lottery ticket. The number of lottery tickets for one participant is not limited. The more deposits and the greater the turnover, the more lottery tickets the participant will have, and the greater their chances of becoming a winner of the prize money.

Unlike trader contests, there is no need for a lottery participant to show exceptional trading results. In this case, both experienced professionals and beginners have equal chances of winning. And they can either use the received prize money in further trading, or take it out without any restrictions.

70 prizes of $500 each, 20 prizes of $1,000 each, 10 prizes of $2,500 and 1 super prize of $20,000 will be drawn. The draws will be held on July 1, October 1, 2021 and January 3, 2022. For more details, visit the NordFX website.

Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.


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  #547  
Old 11-04-2021, 16:18
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Forex Forecast and Cryptocurrencies Forecast for April 12 - 16, 2021


First, a review of last week’s events:

- EUR/USD. The U.S. economy continues to recover vigorously. The S&P500 index renews another high, the value of American Treasuries is growing and, accordingly, their yield is falling. And the dollar is falling along with it.
However, the market, for the most part, is reacting not to real numbers for the last week and a half, but to forecasts and promises. As already mentioned, the US economy is growing. But the head of the US Federal Reserve said that although the March statistics on the labor market is impressive, it is not enough to even start discussions on the curtailment of fiscal stimulus programs. According to Jerome Powell, this requires several more months of such positive results.
His colleagues agree with him. So, the head of the Federal Reserve Bank of San Francisco Mary Daly noted that the US economy is still very far from the recovery, and the Fed will wait until this happens. And the head of the Federal Reserve Bank of St. Louis, James Bullard, said that one should not even think about changes in the US monetary policy until the end of the COVID-19 pandemic.
But as for the other side of the Atlantic Ocean, there are more and more vigorous statements of EU officials about the imminent termination of lockdowns and the unprecedented growth of the Eurozone economy. And in spite of the calls of German Chancellor Angela Merkel for tighter isolation, optimistic data on industrial production in this country are cited.
As a result of all these verbal battles, the scales tipped to the side of the euro. As predicted by most experts, the EUR/USD pair went up, rising to the height of 1.1930 on Thursday, April 08. This was followed by a correction and a finish at 1.1900;

- GBP/USD. Problems after the UK's exit from the EU, an impressive trade deficit and the country's budget deficit continue to put pressure on the pound. And even the dollar, which has weakened against other currencies, does not allow the GBP/USD pair to return to growth. We see how the British currency, step by step, is losing ground starting from February 24. Last week the pair was able to grow only to 1.3920. This was followed by a reversal and, as predicted by graphical analysis, it dropped to the level of 1.3670. As for the final chord, it sounded at the height of 1.3710;

- USD/JPY. It has been repeatedly written that the rate of this pair is greatly influenced by the yield of US Treasuries. Fluctuations in the yield of these securities allowed the yen to straighten its shoulders a little and win back 165 points from the dollar in the first four days of the week, dropping to 109.00. However, then the strength of the bears dried up, and the pair ended the five-day period at the level of 109.65;

- cryptocurrencies. The overwhelming majority of analysts (70%) gave a negative forecast for the BTC/USD pair last week, expecting it to move towards $50,000. This is exactly what happened, and the fall of bitcoin on Wednesday to $55,540 made many talk about the beginning of new "crypto freezes". Fortunately for investors, the panic was premature and the pair returned to the $58,000 zone on Friday. However, the question of why the main cryptocurrency failed to gain a foothold above $60,000 remains open.
One of the versions is a drop in demand from large institutional investors. But, as is clear from the statistics of crypto exchanges, "whales" continue to withdraw cryptocurrency to cold wallets. And therefore, they expect its growth to continue.
The miners' actions are also indicative of their bullish sentiment. They switched to hoarding coins in April, creating a shortage in the market. The movement of cryptocurrency from miners to crypto exchanges has decreased by almost 40%: from 450 bitcoins per day in March to 275 in the first decade of April. Naturally, such a shortage of supply should push the price up. Suffice it to recall that the BTC/USD pair rose from $19,000 to $30,000 in a similar situation the previous time.
In the meantime, just as bitcoin cannot take the $60,000 height by storm, the total market capitalization cannot step over the $2.0 trillion bar either, once approaching it, once moving away. At the time of writing this review, on Friday April 09, it has once again come close to this important psychological level, reaching a volume of $1.990 billion. As for the Crypto Fear & Greed Index, it has changed only by 4 points during the week, having fallen from 74 to 70.
It should be noted that the share of bitcoin in the total crypto market capitalization is continuously decreasing: if it was 62% on March 14, then it was only 55% on April 09. This is undoubtedly due to the lack of positive price dynamics for BTC/USD. Speculators are switching to other instruments, which allow making serious profits at the moment. And here the ripple should be noted.
When the ripple fell to $0.170 at the very end of December 2020 due to the claims of the Securities and Exchange Commission (SEC), many gave up on it. However, on April 7, at the high, the price of this altcoin reached $1.108, showing a 550% gain since the the year started. Its capitalization also grew during this time, rising from 1.40% to 2.42%. The reason for this rally, especially in the last week, was the news that ripple's lawyers have gained access to the SEC documents and are making serious progress in litigation with this powerful regulator.

continued below...
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  #548  
Old 11-04-2021, 16:23
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As for the forecast for the coming week, summarizing the views 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 is said in the first part of the review, the statements of the US Federal Reserve leaders, the growth of the stock market and the fall in the yield of US Treasury bonds are important factors. But they are limited in time. So is the falling dollar. And at some point, everything can turn 180 degrees. The higher the US stock indices soar - Nasdaq, Dow Jones, S&P500, the more frequent talk about “soap bubbles” that are about to burst. Investors borrowed a record $814 billion secured by their own portfolios by the end of February 2021. And this is 49% more than a year ago. A similar situation resulted in the collapse of the stock market and in the economic crisis in 2008.
But until this happens, the attractiveness of the dollar continues to decline, which plays into the hands of low-income currencies and, first of all, the euro. The dollar is not facilitated by the confrontation between Democrats and Republicans in the US Senate over the scale of further fiscal stimulus either.
Of course, a way out of this political stalemate will be found, and there will be more clarity about the results of vaccinations and the speed of recovery of the US and Eurozone economies. But according to forecasts of 65% of experts, the EUR/USD pair will continue its growth in the coming week. This scenario is supported by 75% of oscillators and 85% of trend indicators on H4. The advantage of the “greens” is much weaker on D1, here it is only 65% of technical indicators that point to the growth of the pair. At the same time, 15% of oscillators are painted neutral gray, and 20% already give signals about the pair being overbought.
As for the graphical analysis, it shows movement in the 1.1835-1.1950 trading range on H4, the range is, of course, wider on D1: first, the pair goes down to the lower border in the 1.1700 zone, and then rises to the 1.2000 height. It should be noted that in the transition from weekly to monthly forecast, 55% of analysts vote for the decline of the pair to the horizon of 1.1700.
As for the events of the coming week, we should pay attention to inflation indicators and data on the US consumer market (due out on April 13, 15 and 16), Eurozone (April 12) and Germany (April 15) . Also of interest is the speech of the head of the US Federal Reserve Jerome Powell on Wednesday April 14;

- GBP/USD. At the moment, the absolute advantage for this pair is on the side of the bears. 85% of oscillators and 100% trend indicators on H4 are painted red. On D1 it is 85% and 80%, respectively. 65% of analysts also vote for the further fall of the pair. The nearest support is 1.3670, the target is a transition to the zone 1.3575-1.3610. Graphical analysis on D1 also draws the continuation of the downward trend. However, according to its forecast, the pair may rise to the resistance level of 1.3900 before heading south.
Even though the sell-off of the pound continues, many analysts note that the long-term uptrend, which began on March 20, 2020, has not been affected. And the fall of the last 6 weeks can be considered as a correction, after which the British currency may continue its growth. The pound will regain its attractiveness, especially if large capital that left it due to Brexit begins to return to the country. The pound is also supported by the successes of the early stages of vaccination against COVID-19. In this case, according to 70% of experts, the GBP/USD pair has many chances to regain its lost positions and return first to the 1.4000 zone, and then retest the February 24 high at 1.4240 before the end of spring;

- USD/JPY. Back in early March, the volumes of purchases of futures contracts for the yen exceeded sales. But the fast pace of the US economic recovery has changed everything. According to the Commodity Futures Trading Commission (CFTC), the number of short contracts on Japanese currency began to grow since mid-March, reaching record values since January 2019.
At the moment, despite the confusion in the indicators' readings, the majority of experts (65%), supported by graphical analysis on H4, expect further weakening of the yen and the return of the USD/JPY pair, first to the level of 111.00, and then its rise another 100 points higher, to the level of 112.00.
The remaining 35% of analysts are looking south, expecting to see how the pair will test 108.40 support. Moreover, when moving to the monthly forecast, the number of bear supporters increases to 60%, and the target shifts to the zone 105.00-106.20.
As for the events of the coming week, one can note the speech of the head of the Bank of Japan Haruhiko Kuroda on Wednesday April 14, from which the market will wait for signals regarding the monetary policy of the regulator for the near future. Recall that the Bank of Japan has not been able to decide how to respond to rising yields on US securities and what to do with its own. If the yield on 10-year US bonds and commodity prices continue to rise, and the regulator does not respond to this, it could hit the yen even harder. And it has already suffered quite tangible losses, having lost more about 700 points to the dollar over the past three months.

- cryptocurrencies. The news background of the past week was quite versatile. Thus, the investment bank Morgan Stanley has filed an application with the US Securities and Exchange Commission (SEC), according to which 12 funds of the bank will be able to invest in BTC. Each of the funds indicated in the application will be able to place up to 25% of the capital in the first cryptocurrency. And that's good for investors.
On the other hand, the billionaire and founder of PayPal, Peter Thiel, declared out of the sudden that bitcoin has become an instrument of China's policy and is increasingly hitting the dollar. That is why, according to Peter Thiel, the US government should attend to the regulation of this benchmark cryptocurrency. It should be noted that this businessman previously supported bitcoin, and now one needs to understand who or what made him change his mind. And if the wind blows from the White House, this is a very negative signal for the cryptocurrency market.
As for the forecasts, experts of another large world bank, JPMorgan, called the long-term target for the bitcoin rate of $130,000, having lowered the bar from $146,000 due to the fall in gold quotes. Analysts made such a forecast based on the calculation of the theoretical capitalization of the first cryptocurrency in case of an influx of funds from the market of precious metals.
In general, the topic of comparing bitcoin with gold, for which cryptocurrency is becoming a digital alternative, sounds more and more often. Many bitcoin bulls in the expert environment say that BTC will be able to bypass gold in terms of capitalization in the future. In this case, the value of all bitcoins should grow 10 times and exceed the $11 trillion mark. And according to analysts at Ark Invest, that could happen within the next few years. "We believe that bitcoin is better than gold and it's safe to say that it will capture a gold market share or even more."
Billionaire and founder of the crypto bank Galaxy Digital Mike Novogratz agrees with the forecast of Ark Invest. He stated In a comment for CNBC that he was shocked by the pace of digital asset adoption. The investor also admitted his previous forecast of the price of the first cryptocurrency of $60,000 too conservative. “Bitcoin is on the inevitable path to reaching and exceeding the capitalization of gold,” said Novogratz.
Quite an astronomical forecast was given by the author of the book “Rich Dad, Poor Dad”, investor and entrepreneur Robert Kiyosaki. He suggested in a recent interview that the first cryptocurrency could reach a value of $1.2 million in the next five years. Kiyosaki first bought bitcoin last year after the pandemic effectively shackled the global economy. It was then trading at $9,000. “I wish I could buy it for 10 cents, like many people did, but I still look like a genius because today it costs about $55,000. I think that in another five years it will grow to $1.2 million,” the entrepreneur announced.
At the same time, even though Kiyosaki, opposite to Peter Thiel, has turned into a defender of bitcoin, he still prefers gold and silver for main investments, explaining this by the fact that the cryptocurrency is outside the regulatory field.
And finally, at the end of the review, another crypto life hack. This time, it's about how to make money without "mining", without buying or selling cryptocurrency. After all, it turns out that it is enough just to look into the future and register a promising Internet address in time in order to become a millionaire. So, domain name registrar GoDaddy put up Roger Ver's Bitcoin.com domain for sale for $100 million earlier last week. However, this time the deal fell through: upon discovering the ad, the owner declared that it was “100% fake" and demanded to remove the domain from sale. But this does not mean that you will not be able to earn a tidy sum at other addresses. After all, there are still so many promising cryptocurrencies in the world besides bitcoin.


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.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market

https://nordfx.com/
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  #549  
Old 13-04-2021, 17:17
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New Mobile App from NordFX




The specialists of the NordFX brokerage company have developed a new convenient mobile app that allows you to conduct full-fledged trading in the financial markets without having to switch to other platforms.

The app supports 12 languages and contains all the functionality traders need, which they can use in just a few clicks. The trading platform integrates indicators and other tools for advanced technical analysis. In addition, the application includes an economic calendar, as well as options for opening and verifying an account, depositing and withdrawing funds.

The line of trading instruments includes 33 Forex currency pairs, gold, silver, Crude and Brent oil, as well as the main cryptocurrency pairs: Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD) and Litecoin (LTC/USD).

For all the inquiries, please contact Support support@nordfx.com

You can download the NordFX mobile app from Google Play

as well as from the App Store


Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.


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  #550  
Old 14-04-2021, 15:34
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CryptoNews


- The new episode of the cult animated series "The Simpsons" broadcast on of April 11 predicted an increase in the value of the first cryptocurrency to infinity. This was noticed by Reddit users. A running line with quotes of financial assets appears on the TV screen in the 18th episode of season 32. The bitcoin exchange rate is marked with a green sign of infinity.
Recall that in February 2020, the creators of "The Simpsons" released an episode called Frinkcoin, dedicated to cryptocurrencies and how blockchain technology works. They also mentioned bitcoin in a joint episode with The Griffins and in the mobile game The Simpsons: Tapped Out.

- The emulator of a vintage computer Commodore-64 produced in 1982 was used to mine cryptocurrency. The developer Maciej Vitkoviak has created the C64 Bitcoin Miner software specifically for this PC. He demonstrated a 0.2 H/s hashrate on the VICE emulator. “It will take 337 years and 10 months for the C64 to mine a block,” the developer said.

- Ethereum may surpass Bitcoin in terms of profitability in 2021, and the price of the coin may rise to $10,000. Such a forecast was given by the famous crypto trader and host of the podcast The Wolf of All Streets Scott Melker.
He revealed In an interview with Cointelegraph that he has largely switched his strategy from the first cryptocurrency to this leading altcoin in recent months. “It reminds me of investing in the Internet in the early 1990s,” Melker said. “I don’t understand why this is crazy. In fact, this is just an increase of less than five times the current price. Bitcoin almost tripled last year."

- Analysts of the Kraken exchange admitted the possibility of growth of bitcoin to $90,000. This is stated in the company's latest monthly state-of-the-industry report. Experts noted that March was one of the most successful months for the largest cryptocurrencies in terms of capitalization.
Based on historical data, analysts allowed Bitcoin to rise by 50% in April. Considering that the month began at $59,000, the target of the movement could be the $90,000 mark. However, before the rally resumes, the first cryptocurrency can expect a correction of at least $10,000.
As for Ethereum, Kraken predicts it could rise to $15,000. Exchange analysts noted the important, in their opinion, support and resistance levels for this altcoin: $1,462 and $2,695. Plotting historical patterns of ETH price movement on logarithmic curves, they concluded that the peak of the bullish cycle is still far away. The experts are confident that the price of Ethereum could rise by 700% from the levels of the end of March and reach a high at $15,238.

- The fortune of the bitcoin creator under the pseudonym Satoshi Nakamoto, who, according to various estimates, owns from 750 thousand to 1.1 million BTC coins, has exceeded $60 billion. Thanks to this, according to the Forbes rating, Nakamoto got into the top 20 richest people in the world.
Nakamoto's fortune assessment does not include bitcoin forks belonging to him. For example, the creator of the first cryptocurrency could have over $650 million in Bitcoin Cash, $250 million in Bitcoin SV, $1.1 million in Bitcoin Gold, and a host of other forks.

- According to the analytical service Santiment, large investors, or the so-called "whales", continue to accumulate bitcoins. Analysts found that they have accumulated up to 2.2% of the total cryptocurrency market supply so far, reaching an 11-month high. A similar situation was observed at the beginning of May last year.
These are investors who control 100,000 or more BTC, according to the Santiment report. At the same time, the volume of cryptocurrency on addresses containing from 1,000 to 100,000 coins, on the contrary, decreased from 42.5% to 39.5%.

- An Italian citizen was arrested on suspicion of trying to pay with cryptocurrency for the murder of his ex-girlfriend. According to Europol, the suspect found a website on the darknet that offers such services. After there appeared a contractor ready to fulfill the order, the suspect transferred about 10 thousand euros in bitcoins to him. However, Europol and the Italian police uncovered the criminal plan in time.
Europol also tracked the cryptocurrency transfer. To this end, law enforcement agencies turned to the crypto exchange, where the suspect's virtual currency was originally purchased, and it provided the authorities with the requested information. The name of the exchange is not disclosed.

- Los Angeles-based real estate agency Caruso has partnered with the Gemini cryptocurrency exchange to accept bitcoins in residential and commercial transactions. This fact is interesting because Caruso's long list of tenants includes Tesla CEO Elon Musk. He sells his cars at the large Americana at Brand shopping and entertainment center in Glendale.
Even though Caruso has never discussed bitcoin payments with the well-known entrepreneur, it is believed that Musk may be the very first tenant to pay rent in cryptocurrency. “I didn't tell Elon about this, but he might be a trailblazer who pays rent in bitcoin,” said the company's founder and CEO Rick Caruso.

- Bitcoin miners are accumulating coins for the first time since December 2020, thus containing the downward pressure on the market. The number of bitcoins in miners' wallets has increased to 1.806 million BTC over the past two weeks.
“Miners have switched to accumulating liquid assets, because they have enough cash reserves to support their activities, which they raised during the rise of bitcoin from $20,000 to $40,000. Or, most of them are holding coins in anticipation of further appreciation,” Flex Young, CEO of Hong Kong-based Babel Finance, told CoinDesk.
Miners receive income in cryptocurrency, but they pay fiat to service providers, so they are forced to sell part of the mined coins. The volumes of such sales depend on current market conditions and expectations of the bitcoin price behavior.
Starting from March 31, miners started accumulating BTC reserves again. Whereas for four months before that, they reduced their positions, converting bitcoins to fiat. The largest volumes of cryptocurrency, from 17,000 to 24,000 BTC per day, were sold by them in January 2021.

- CNBC TV presenter Jim Kramer would switch entirely to cryptocurrency, and it would take him several years. He has already reached the point of demanding that his salary be paid in bitcoins. Apparently, he was influenced by the news that the MicroStrategy company began to pay remuneration in bitcoins to its members of the Board of Directors. Kramer named MicroStrategy a leader in Bitcoin adoption in his Mad Money program, predicting that other companies would follow suit.


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Old 18-04-2021, 03:35
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Forex Forecast and Cryptocurrencies Forecast for April 19 - 23, 2021


First, a review of last week’s events:

- EUR/USD. The past week was marked by two important economic events: impressively strong macro-statistics from the USA and a collapse in the yield of 10-year US government bonds.
According to the data published on Thursday April 15, US retail sales jumped by +9.8% in March (against the forecast +5.9% and a fall of -2.7% in February), which is the best indicator for the last 10 months. What is happening on the labor market also shows an active recovery of the country's economy. Thus, the number of initial applications for unemployment benefits fell from 769 thousand to 576 thousand. And this is not just better than the predicted 700 thousand, this is the lowest level since the beginning of the COVID-19 pandemic. Industrial production grew by 2.7%.
All these figures clearly indicate the rapid growth of US GDP in the first quarter of 2021. and allow us to speak with confidence about its continuation in the coming months. Against this background, the collapse in the yield of American Treasuries, the strongest since the beginning of last November, looks surprising. If at the end of March, the yield on 10-year bonds reached a local multi-month maximum of 1.775%, now it has fallen to 1.583%.
Along with bonds, the dollar is weakening. The USD DXY index is trading in the 91.5 zone on Friday, April 16, which is 180 points below this year's high of 93.3. As a result, as predicted by most experts (65%), the EUR/USD pair continued its growth last week, coming close to the important support/resistance level of 1.2000 and ending the five-day period at 1.1980.
This situation suggests that strong economic statistics from the United States can no longer provide serious support to the US currency. And the latter is now more correlated with the yield on Treasury bonds. Apparently, the rate of vaccination against coronavirus has already been taken into account in the USD quotes. And new fiscal stimulus programs and endless printing of new money by the Federal Reserve started working against the dollar. Its weakening has already gone beyond the usual correction, heating up the risk sentiments of investors: in addition to the euro, the currencies of commodity and developing countries are also growing, and the S&P500 index renews its all-time high for the 22nd time this year;

- GBP/USD. The weakening dollar supported the British currency, the fall of the GBP/USD pair stopped, and it even managed to climb 120 points. Thus, its movement over the past four weeks can be defined as lateralin channel 1.3670-1.3920. As for the last chord, the pair placed it in the central zone of this channel, ending the trading session at 1.3840;

- USD/JPY. It was said above about a sharp drop in the yield on 10-year US Treasury bonds. Experts call the coverage of short positions by hedge funds, as well as the return of Japanese buyers to the market, among the possible reasons for this collapse. They were actively getting rid of American bonds at the end of the financial year, but they began to replenish their investment portfolios with them now. This led to an increase in demand for the yen, which, thanks to the negative interest rate, they use to finance such operations.
One of the scenarios pronounced a week ago suggested that the weakening of the dollar and the strengthening of the yen would push the pair USD/JPY towards the support of 108.40. This is exactly what happened: starting from the level of 109.65, the pair dropped to the horizon 108.60 by Thursday, April 15, followed by a small rebound and a finish at 108.80;

- cryptocurrencies. What has been so much anticipated over the past eight weeks has come true: Bitcoin has finally broken through the $60,000 horizon and is now trying to gain a foothold above this important psychological level. The new historical high was the height of $64,800, which the BTC/USD pair reached on Wednesday April 14. However, a correction followed, and the bulls were struggling to prevent the main cryptocurrency from falling below $60,000 for the whole of Friday, April 16.
According to the Forbes rating, thanks to the growth of bitcoin, its creator under the pseudonym Satoshi Nakamoto got into the top 20 richest people in the world. According to various estimates, he owns between 750k and 1.1 million BTC coins, and his fortune has exceeded $60 billion now.
But if Nakamoto became the owner of countless crypto-treasures a long time ago, then the current large investors are only at the beginning of their journey. According to the analytical service Santiment, the so-called "whales" continue to accumulate bitcoins. Analysts found that they have accumulated up to 2.2% of the total cryptocurrency market supply so far, reaching an 11-month high. A similar situation was observed at the beginning of May last year. As the Santiment report says, we are talking about investors controlling 100,000 or more BTC.
Along with the "whales", for the first time since December 2020, miners have also started to accumulate savings, which creates a shortage of supply and contributes to an increase in the price of the main digital asset.
Miners receive income in cryptocurrency, but they pay fiat to service and equipment providers, so they are forced to sell part of the mined coins. The volumes of such sales depend on current market conditions and expectations of the bitcoin price. Starting from March 31, miners started accumulating BTC reserves again. Whereas for four months before that, they reduced their positions, converting bitcoins to fiat. The largest volumes of cryptocurrency, from 17,000 to 24,000 BTC per day, were sold by them in January 2021.
“Miners have switched to accumulating digital assets, because they have enough cash reserves to support their activities, which they raised during the rise of bitcoin from $20,000 to $40,000. Or, most of them are holding coins in anticipation of further appreciation,” Flex Young, CEO of Hong Kong-based Babel Finance, told CoinDesk. The number of bitcoins in miners' wallets has increased to 1.806 million BTC over the past two weeks.
The growth of the BTC/USD pair is facilitated by a weak dollar and a decrease in the yield of long-term US government bonds as well. This increases the attractiveness of cryptocurrency as a hedge against inflation.
The total crypto market capitalization on April 10 finally crossed the $ 2.0 trillion bar, and never fell below it. At the time of this writing, on April 16, it is at $ 2.2 trillion.
At the same time, the share of bitcoin in the total crypto market capitalization continues to decline continuously: if it was 72.65% on January 2, then it was only 52.10% on April 16. As already mentioned, this is most likely due to the fact that speculators are switching to other, more profitable, assets.
As for the Crypto Fear & Greed Index, it rose from 70 to 78 points in a week. Both values are in the overbought zone, but they are still far from critical, and therefore cannot become a serious obstacle to the growth of the BTC/USD pair.

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  #552  
Old 18-04-2021, 03:37
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As for the forecast for the coming week, summarizing the views 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 mentioned in the first part of the review, trillions of dollars of economic support programs not only increase the US national debt, but also begin to put serious pressure on the American currency. Low, close to zero interest rates do not help it either. But at the same time, the head of the FRS says that although the pace of the US economic recovery is impressive, it is not enough to even begin to discuss the curtailment of fiscal stimulus programs. According to Jerome Powell, this requires several more months of such positive results. The economy must “make even more significant progress” towards target levels of employment and inflation.
Of course, such statements are not good for the dollar and contribute to the growth of risk sentiment. But as for the other side of the Atlantic Ocean, there are more and more vigorous statements of EU officials about the imminent termination of lockdowns and the unprecedented growth of the Eurozone economy. According to the consensus forecast of Bloomberg experts, the ECB will slow down the emergency asset purchase (QE) program by July, and at the end of this year will announce its termination in March 2022.
All of the above could lead to the EUR/USD breakout of the 1.2000 resistance and its rise to the January highs in the 1.2300 area. Resistances on this path will be the levels 1.2125 and 1.2185.
However, at the moment such a bullish forecast is supported by only 25% of experts. True, graphical analysis, 100% of trend indicators on H4 and 90% on D1 are on their side. The picture is slightly different among oscillators. Only 65% of oscillators on both time frames are colored green, while the rest are already giving signals that the pair is overbought.
The majority of analysts (50%) have now taken a neutral position, believing that the bulls and the bears will be engaged in “tug-of-war” across the 1.2000 line in the near future. But the victory will still be with the dollar in the future. And, when moving from weekly to monthly forecast, the number of supporters of bears increases from 25% to 70%. In their opinion, the EUR / USD pair will test the support in the 1.1700 zone once again and, if successful, will drop another 100 points lower.
As for the events of the coming week, we should pay attention to Thursday April 22. The next ECB meeting will be held on that day. Any special changes in its monetary policy are not likely to be foreseen. However, the press conference of the management of the European Central Bank is of interest, during which investors can receive positive signals about the intentions of this regulator. If the business activity indicators in Germany and the Eurozone, which will be released the next day, April 23, also turn out to be encouraging, this could support the euro;

- GBP/USD. Problems after the UK's exit from the EU, an impressive trade deficit and the country's budget deficit continue to put pressure on the pound. And even the dollar, which weakened against other currencies, let the GBP/USD pair get just a sideways trend, but never return to sustainable growth.
The British currency may regain its attractiveness, especially if large capital that left it due to Brexit begins to return to the country. The pound is also supported by the successes of vaccination against COVID-19. Therefore, some analysts believe that the long-term uptrend, which began on March 20, 2020, is too early to be buried, and the pair has a chance to continue its movement to the north. 30% of experts vote for the bullish forecast at the moment. However, when switching to forecasting by the end of spring, their number doubles: up to 60%. The nearest resistance levels are 1.3920 and 1.4000.
In the meantime, the overwhelming majority of analysts, supported by graphical analysis on D1, first expect the pair to drop to the lower border of the 1.3670-1.3920 trading channel, and in case of its breakdown, the pair will move to the 1.3600 zone.
Among the events of the coming week that can influence the formation of local trends, we can note the release of statistics on the UK labor market on Tuesday April 20, data on the consumer market on Wednesday April 21, and business activity in the Markit service sector.¬ on Friday April 23. Noteworthy is the speech of the head of the Bank of England Andrew Bailey on April 21 as well;

- USD/JPY. The pair starts the next week within the zone 108.60-109.25. Recall that this is the very narrow trading range from which it could not get out for three whole weeks in March. And it is quite possible that now it will become a serious obstacle on the path of the yen to further strengthening. Graphical analysis completely agrees with this version. According to its forecast on the H4 and D1 timeframes, before continuing to move south, the USD/JPY pair will be squeezed within these limits for several days.
And 70% of analysts are sure that the pair will continue to decline. Support levels are 108.35, 107.50 and 106.00; The remaining 30% expect the pair to bounce up. Resistances are at 109.25 and 110.00, the goal is to overcome the March 31 high of 110.95 and take the height of 111.00;

- cryptocurrencies. The most optimistic forecast for the bitcoin price was given by the authors of the cult animated series The Simpsons. A running line with quotes of financial assets appears on the TV screen in the new 18th episode of season 32. The bitcoin exchange rate is marked with a green sign of infinity.
Of course, such dynamics would greatly delight investors. However, the forecasts of specialists still look much more modest. Although they also strive upward. So, according to the latest report of the Kraken exchange, its analysts, relying on historical data, admitted the growth of bitcoin by 50% in April. Taking into account that the month began at $59,000, the target of the movement could be the $90,000 mark. However, before the rally resumes, the first cryptocurrency can expect a correction of at least $10,000.
As for the second major cryptocurrency, Ethereum, Kraken predicts it could rise to $15,000. Exchange analysts noted the important, in their opinion, support and resistance levels for this altcoin: $1,462 and $2,695. Plotting historical patterns of ETH price movement on logarithmic curves, they concluded that the peak of the bullish cycle is still far away. The experts are confident that the price of Ethereum could rise by 700% from the levels of the end of March and reach a high at $15,238.
A slightly more modest forecast for the price of this altcoin was given by the famous crypto trader and host of the podcast The Wolf Of All Streets Scott Melker. According to him, Ethereum may surpass bitcoin in terms of profitability in 2021, and the price of the coin may rise to $10,000.
He revealed In an interview with Cointelegraph that he has largely switched his strategy from the first cryptocurrency to ETH in recent months. “I don’t understand why this is crazy. In fact, this is just an increase of less than five times the current price. Bitcoin almost tripled last year,” Melker told reporters. “It reminds me of investing in the Internet in the early 1990s.”
Maciej Vitkoviak looked even deeper into the history, revealing to the world a crypto-life hack of almost 40 years ago - an emulator of a vintage computer Commodore-64 from 1982, adapted for mining bitcoins. This developer has created the C64 Bitcoin Miner software specifically for this PC. He demonstrated a hashrate of 0.2 H/s on the VICE emulator, which will allow him to get a block of BTC “in just” ... 337 years and 10 months ?.

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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  #553  
Old 21-04-2021, 15:59
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CryptoNews


- PayPal's Venmo mobile payment app now allows users to buy, store and sell Bitcoin, Ethereum, Litecoin and Bitcoin Cash. The minimum investment in cryptocurrency is just $1. In addition, you can now share the purchased cryptocurrency with friends through the Venmo social feed.
Thus, PayPal continues to expand the functionality associated with digital assets. As a reminder, more recently, this payment giant has allowed users to buy cryptocurrency through its main platform and use their crypto wallets to pay for purchases in online stores around the world.

- Popular cryptocurrency analyst Willy Woo said that Bitcoin's drawdown on April 18 below $51,000 was triggered by massive power outages in China. Due to the fact that most of the miners were temporarily out of order, the hash rate of the asset began to decline. According to Woo, the situation should stabilize soon, which will lead to further increases in the value of bitcoin.
“This is a power outage in Xinjiang province. It is one of the largest regions in China where the mining power of bitcoin is concentrated. According to the BTC Cambridge Energy Consumption Index, Xinjiang accounts for about 25% of the coin's total hashrate. It becomes clear straight away that the entire cryptocurrency market has dropped significantly precisely because of the Chinese incident,” Woo said.
According to the expert, if his theory is confirmed, then the situation with the hash rate of the asset should stabilize quickly. When the main network starts processing the same number of transactions, the value of the coin will start to rise again.

- An unknown attacker allegedly stole phone numbers and credit card details of Domino's Pizza India customers and put them up for sale for 10 bitcoins (about $550,000 at the time of writing). In parallel, the hacker demanded 50 BTC ($2.75 million) from Domino's to prevent the information from getting publicly available.
Representatives of the management company confirmed the hack but denied the leak. "In accordance with our policy, we do not store financial information or credit card information of our customers, so such information has not been compromised," said Domino's Pizza.

- Candidate for the post of New York City Treasurer Reshma Patel presented an urban development plan based on investments in blockchain businesses and cryptocurrencies.
According to her plan, this should play an important role in the restoration of the city. “My intention to run for office is due to my concerns about the financial health of New York, especially in the aftermath of the COVID-19 pandemic. It is clear that cryptocurrencies have a future in finance and a future in financial planning in New York,” Patel said. Among other things, she plans to invest in funds focused on blockchain, create a working group to explore options for direct investment in technology, and also transfer part of the city's pension fund reserves to digital assets.

- The world-famous American magazine TIME followed the path of Tesla, and in addition to investing in bitcoin, it also began to accept cryptocurrency for subscription payments. To this end, TIME has started to cooperate with the crypto payment platform Crypto.com, offering an additional reward of 10% for those who pay for the service in native Crypto.com CRO tokens.
The service is currently available in the US and Canada, but a global expansion is planned in the coming months. TIME's rapid digital transformation is the result of our commitment to new technologies and working closely with innovative companies like Crypto.com to bring our vision to life, said TIME CTO Bharat Krish.

- Bitcoin trend remains bullish. This is the conclusion reached by analysts of the Santiment resource, who analyzed the frequency of tweets with the phrase "buy the dip" and "bought the dip". With the bitcoin price dipping below $51,000 on April 18, the number of low buy posts hit a weekly record of 2,108 tweets. This allowed Santiment analysts to conclude that this correction is nothing more than a "bump in the road."
This is not the first time Santiment has used Twitter stats to gauge the market. For example, earlier the analysts used the mention of Binance coin (BNB) to determine the peak price of this cryptocurrency.

- Cryptocurrencies like bitcoin need to be considered as alternative investments. This was stated by the deputy governor of the People's Bank of China (PBOC) Li Bo. “Bitcoin and stablecoins are encrypted assets. It is an investment asset, an alternative investment, not a currency. They should play an important role in the future,” explained Li Bo. However, he stressed the associated regulatory uncertainty. According to the official, "current practices" in the form of banning the operation of bitcoin exchanges and holding ICOs will remain in force until the development of new regulation is completed, which should become similar to the regulation of the banking system.

- Former hedge fund manager and host of CNBC's Mad Money Jim Cramer called himself a "renegade" and announced the sale of his assets in the first cryptocurrency. “I know people will be mad at me, but I paid off my mortgage with bitcoin yesterday,” Kramer said on TV. The host did not elaborate on how many coins he sold. But, he said, it was half of his digital gold reserves.
Twitter users likened Kramer's move to Laszlo Hanyecz's famous 10,000 BTC purchase of pizza in May 2010.

- The Swiss giant AXA was the first of the insurance companies of this country to start accepting bitcoin for payment. To accept digital payments, the company entered into a partnership agreement with the cryptocurrency broker Bitcoin Suisse. AXA customers will be able to pay with bitcoin for all of the company's products, with the exception of life insurance. This is due to legal restrictions.
AXA has not ruled out that in the future its products can be purchased using other cryptocurrencies, but for now the company will test working with digital assets using BTC only.


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  #554  
Old 25-04-2021, 17:12
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Forex Forecast and Cryptocurrencies Forecast for April 26 - 30, 2021


First, a review of last week’s events:

- EUR/USD. The US economy is showing impressive growth. Europe, on the other hand, is in a widespread lockdown and, apparently, is experiencing a second recession. The share of those who received at least one COVID-19 vaccine in the EU is 25.1%, while in the United States there are 2.5 times more of them, 63.2%. Can the euro grow in such a situation? Only 25% of experts answered positively to this question last week, and they turned out to be right: the pairEUR / USD reached the level of 1.2080 on Tuesday, April 20.
The majority of analysts (50%) believed that the bulls and the bears would be engaged in “tug of war” across the 1.2000 line. And they also turned out to be not far from the truth: the pair fluctuated up/down in the range of 1.1995-1.2080 from Tuesday until the end of the week. Although, of course, the victory remained with the bulls, since the last chord of the trading session sounded near the high of the last seven weeks at 1.2100.
There are two main reasons for these dynamics. The first one is in America, the second one is on the other side of the Atlantic, in Europe.
On the one hand, the yield on long-term US Treasury bonds continues to fall, and along with it the US currency continues to weaken. The dollar index against a basket of six major currencies (DXY) declined to 91.0, down 230 points from this year's high of 93.3. This fuels the risk sentiment of investors and continues to push the major US stock indexes up. This happens even despite the proposal of US President Joe Biden to almost double (from 20% to 39.6%) the capital gains tax for citizens with income of $1 million or more.
On the other hand, the euro was supported by positive forecasts for the rate of vaccination in Europe, in particular the news that Pfizer will increase the supply of vaccines to the EU by 100 million doses. The yield on German bonds is growing, which are beginning to catch up with their competitors from the United States. Stronger than expected statistics on business activity in the Eurozone helped the bulls on EUR/USD as well. Analysts polled by Reuters expected on average the PMI to decline from 53.2 points to 52.8. However, it rose to 53.7 in April;

- GBP/USD. First, a few words about another pair, GBC/USD, which may appear in the foreseeable future. While in some countries, regulators ban cryptocurrencies (for example, in Turkey), in others they are trying to put them at their service. The Bank for International Settlements (BIS) has recently conducted a survey and it has turned out that of 66 central banks, 52 are thinking about their own digital currency. And one of these reflective regulators is the Bank of England, backed by one of the country's largest financial conglomerates, Barclays.
The digital pound has already received a playful name "Britcoin", which makes those who know what "Brit Milah" smile. For those who are not in the know, let us explain: this is a rite of circumcision among religious Jews. However, if Brit Milah is rooted in the deep past, then Britcoin is the digital future of the UK that has broken away from the EU.
But until the GBC/USD pair has appeared in the list of trading instruments, let us return to its “older sister”, the GBP/USD pair. It went up at the beginning of the week, thanks to the weakening dollar, like EUR/USD. The pair reached a height of 1.4010 on Tuesday, having added 170 points. However, it did not manage to fix above the 1.4000 horizon: the pound lost all its advantage two days later, and the pair dropped to the level of 1.3825. At the very end of the trading week, the pound was helped by strong statistics on business activity in the services sector: the Markit index rose from 56.3 to 60.1 (against the forecast of 59.0) over the month, thanks to which the pair grew slightly and completed the five-day period at 1.3885;

- USD/JPY. Recall that we talked in the previous review about the fact that one of the reasons for the fall in the yield of 10-year US Treasury bonds, and with it the strengthening of the yen against the dollar, may be the return of Japanese buyers to the market. They were actively getting rid of American bonds at the end of the financial year, but they began to replenish their investment portfolios with them now.
The majority of analysts (70%) voted seven days ago for the fact that the growth of the Japanese currency and the decline of the USD/JPY pair will continue, and this forecast turned out to be absolutely correct. The level 107.50 was indicated as a support, which became the local bottom of the week. This was followed by a correction and a finish at 107.85;

- cryptocurrencies. While the task of the bulls on Friday, April 16 was to prevent the BTC/USD pair from falling below $60,000, they are struggling seven days later to gain a foothold in the $50,000 area. After the explosive growth to $64,800, which took place on the eve of the American exchange Coinbase' IPO, we are witnessing an equally rapid collapse now. The price of bitcoin was falling to the level of $47,545 on Friday April 23, showing a 26.6% drop.
It is difficult to single out any one reason for what happened. Prominent analyst Willy Woo said the drawdown was triggered by massive power outages in Xinjiang province, one of the largest regions in China where bitcoin mining is concentrated. According to the BTC Cambridge Energy Consumption Index, Xinjiang accounts for about 25% of the coin's total hashrate. Due to the fact that most of the miners were temporarily out of order, the hash rate of the asset began to decline, and the average transaction fee on the bitcoin network exceeded $50, which has not been the case since 2017.
According to Woo, bitcoin should have returned to growth after the electricity supply situation stabilized. Electricity returned to Xinjiang, but bitcoin continued its decline.
We have repeatedly written that the crypto market is heavily influenced by regulatory risks. And in this case, it is possible that panic has been fueled by the rumors that an investigation may begin in the United States regarding a number of financial institutions on suspicion of money laundering using cryptocurrencies. Additional pressure on the market was made by two news stories. The first is the news that the US Congress has approved the creation of a SEC and CFTC working group to develop cryptocurrency regulation. The second is the plans of US President Joe Biden to raise taxes on capital gains, which could limit investment in digital assets.
The total cryptocurrency market capitalization decreased by 17% over the week, from $2.2 trillion to $1.825 trillion. Meanwhile, bitcoin continues to lose ground. If its share in the total capitalization on January 2 was 72.65%, then it is only 50.70% on April 23. This suggests that investors are looking for more profitable assets for their investments among altcoins, of which there are currently more than 8,000. Just look at the Ethereum quotes. Despite the April 18 crash, this leading altcoin managed to renew its all-time high last week, reaching $2,635. Of course, a wave of sales did not pass it, but the fall in the price of ETH over the week was only about 11%. As for the participation of Ethereum in the total capitalization of the crypto market, its share has grown from 10.79% to 14.49% since the year started.
Summing up the past week, we note that the bitcoin price dropped below the 50-day average, which is quite an alarming factor and may provoke further sales. The BTC dominance index, as already mentioned, is also going down. However, it is still far from the lows of early 2018, when it fell to 32%. Another index, Crypto Fear & Greed Index, dropped from 78 to 55 points during the week and approached the neutral zone.

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Old 25-04-2021, 17:17
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As for the forecast for the coming week, summarizing the views 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 expected, the European Central Bank
maintained an ultra-soft policy and did not make any adjustments at its meeting on April 22. And its head Christine Lagarde made every effort to limit further growth of the euro. Investors should have concluded from her speech that the ECB will begin to roll back fiscal stimulus (QE) later than the US Federal Reserve, since the EU economy lags behind the American one. (According to JPMorgan forecasts, the GDP of the Eurozone, after a 1% decline in the first quarter of 2021, is expected to grow by 6% in the second quarter. In the US, the same figures are +5% and +10%).
The ECB is not interested in a strong euro, as it interferes with European exports, and considers the current EUR/USD quotes to be quite high. However, Ms. Lagarde was unable to reverse the pair's downward trend. Moreover, it is very likely that the US Federal Reserve Head Jerome Powell will say the same thing at its upcoming meeting on Wednesday, April 28 as she did: that, although the pace of the US economic recovery is impressive, this is absolutely not enough to start discussing curtailment of fiscal stimulus programs.
The next meeting of the ECB will be held on June 10, and a lot can happen during this time. The euro will be pushed upwards by the increasing rate of vaccination and the economic recovery of the EU. And the bears are unlikely to be able to turn the pair south until the yield on US Treasuries starts to rise again.
Goldman Sachs analysts believe that the four largest countries in the Eurozone will vaccinate 37% of their population by the end of May, and this figure will already be 54% by the end of June. As a result, the bank raised its forecast for EUR/USD from $1.2100 by the end of the year to $1.2500.
The latest Bloomberg consensus estimate, on the contrary, decreased. If the figure called in January was 1.2500, now it is 1.2200. Although this value suggests further strengthening of the euro.
The main event of the coming week will be the meeting of the Open Market Committee of the US Federal Reserve System and the commentary of its management on the future monetary policy. Jerome Powell, as already mentioned, is likely to adhere to a rhetoric similar to Christine Lagarde, which may put another pressure on the yield of American bonds and the USD rate.
Growth of the euro in the coming week is expected by 60% of experts, supported by graphical analysis, 100% of trend indicators and 85% of oscillators onH4 and D1. The remaining 15% of the oscillators give signals that the pair is overbought. Resistance levels are 1.2125, 1.2185, the target is the February 25 high at 1.2245.
It should be noted that when switching to the forecast for May, the picture changes sharply, and here it is already 70% of experts, supported by graphical analysis on D1, who expect the EUR/USD pair to fall below the 1.2000 horizon. Supports are located at 1.1940, 1.1865 and 1.1800 levels. The target of the bears is the low of the end of March around 1.1700.
As for the events of the coming week, apart from the Fed meeting, one should pay attention to the statistics on consumer markets: the USA - on Monday April 26, Germany - on Thursday April 29 and the Eurozone¬ - Friday April 30. In addition, GDP indicators for the first quarter will become known: the USA - April 29, as well as Germany and the Eurozone - April 30;

- GBP/USD. A number of experts believe that successful vaccination of the population will help warm up the UK economy. Quarantine restrictions have been severely relaxed in recent weeks, pubs and restaurants have opened. Macro statistics are encouraging. However, Brexit-related concerns, massive trade deficits and UK budget deficits continue to weigh on the pound. But the dollar is also under pressure. Perhaps that is why the forecast for the GBP/USD pair looks rather contradictory: 45% of experts vote for its movement to the north, 35% to the south and the remaining 20% to the east. The technical analysis readings on H4 look contradictory as well.
On D1, thanks to the uptrend that began 13 months ago, most of the oscillators (65%) and trend indicators (85%) look up. Graphical analysis also indicates that the pair will try again to storm the 1.40000 high, but after that it will go down to the support in the 1.3670-1.3700 zone. The nearest resistance level is 1.3920, the nearest support is 1.3800;

- USD/JPY. The key indicator for this pair was and is the yield on US government bonds. If it continues to decline next week, then the pair USD/JPY will go further down. The nearest support is in the 106.80-107.10 zone, the next one is located near the 200-day moving average of 105.80.
The experts' opinion coincides completely with what was expressed a week earlier. 70% of them believe that the pair will continue to fall. The remaining 30% expect the pair to rebound upward (resistance levels 108.35 and 109.00). There is complete discord among the oscillators on H4, on D1 - 75% are colored red, and 25% give signals that the pair is oversold. Graphical analysis on both time frames shows that at first the pair can rise to the resistance of 108.35, and only then, having bounced off this level, it will sharply go down;

- cryptocurrencies. According to a number of experts, the drop in the share of bitcoin in the total capitalization of the crypto market is a very alarming factor for investors. Recall that the dominance index of the leading cryptocurrency was 85% at the beginning of 2017, and it decreased to 45% before the collapse. Now this figure is just over 50%. Pessimists argue that the rise in BTC/USD quotes before the listing of Coinbase on the NASDAQ exchange was the last stage of the bullish rally, and we need to prepare for a new "crypto winter" now, which could stretch for several years. This is confirmed by the massive liquidation of BTC futures.
However, as is usually the case, in addition to pessimists, there are also optimists. For example, analysts at Santiment believe that bitcoin's trend remains bullish. They have reached this conclusion having analyzed the frequency of tweets with the phrase "buy the dip" and "bought the dip". With the bitcoin price dipping below $51,000, the number of low buy posts hit a weekly record of 2,108 tweets. This allowed Santiment analysts to conclude that this correction is nothing more than a "bump in the road."
However, two thousand Twitter users are unlikely to seriously affect the market. Much more important is the mood of institutional investors who are not crypto enthusiasts at all. And there is a high probability that they will not be active until there is clarity on the attitude of the leading regulators to the sector. Those of the "whales" who purchased the cryptocurrency in the fall of 2020 may well start fixing profits at the current level: the price around $45,000-50,000 is more than acceptable for them. But new large purchases look quite risky.


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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  #556  
Old 28-04-2021, 16:13
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CryptoNews


- The Cuban authorities have decided that cryptocurrencies are necessary for building socialism and have included them in the program for the country's economic development until 2026. The document is titled "Guiding Principles of the Party's Economic and Socialist Policy."
The idea of introducing cryptocurrencies into the domestic economy of the country was first voiced in 2019. The authorities announced then that they were going to use the assets for external payments, since operations with the dollar became unavailable for them due to the sanctions imposed by the United States against Cuba. The new set of measures includes support for cryptocurrency initiatives. We are also talking about currency liberalization, which should allow citizens and companies to use any type of assets for settlements.
The Cuban authorities want to build on the experience of Venezuela, which was able to introduce its own cryptocurrency called El Petro and made possible the use of bitcoin and other digital assets. Several national payment platforms have appeared in the country, designed to work with cryptocurrencies.

- Bill Miller, legendary investor and founder of hedge fund Miller Value Partners, said it was no longer possible to ignore bitcoin. According to him, cryptocurrencies are gradually becoming mainstream, which is why they will be fully adopted within a few years. The financier did not rule out that central banks will try to control the situation, but they will still have to give up sooner or later.
“If bitcoin was considered a kind of internal network asset earlier, and the overwhelming majority of citizens were sure that it would soon collapse, everyone is now waiting for a new wave of bullish sentiment to buy as many coins as possible at a bargain price. Investors have everything under control now, because of which exchanges can no longer move the asset to drawdowns or growth so simply,” Miller believes.
The financier recalled that he first invested in BTC in 2014 or 2015 at an average price of $350 per coin. Now such amounts seem so distant past that no investor believes in returning to them.

- Tesla sold part of its bitcoins for $272 million, generating a profit of $101 million from this transaction. This is stated in the report for the first quarter of 2021. According to Elon Musk, the electric car maker sold 10% of its crypto assets solely to test the liquidity of the market.
Recall that the company invested $1.5 billion in BTC just in early February. And according to Tesla's management, the company is satisfied with the liquidity of the market for the first cryptocurrency and will continue to accumulate digital assets, selling part of its electric vehicles for bitcoins.

- The growing interest in cryptocurrencies threatens the South Korean labor market with a shortage of young workers. According to a number of employers, their employees aged between 20 and 30 are distracted by tracking bitcoin price fluctuations or quit their jobs to devote themselves entirely to trading. In this regard, some companies are looking for ways to block access to cryptocurrency exchanges during business hours.
The 20-year-old Chosun interviewee left the credit card company after three years as he earned 3 billion wons ($2.7 million) in cryptocurrency revenues. “I loved the job,” he says, “but I realized that financially it would be wiser to focus on investing, taking into account the income from the time I spend.”

- The creator of the sports media platform Barstool Sports Dave Portnoy announced the investment of a "seven-figure" amount in the first cryptocurrency in August 2020. He did this after he met with the founders of the Gemini exchange, the Winklevoss brothers. Later, the investor sold all his bitcoins at a price of about $11,600. He said that he lost a decent amount on the market drawdown and was disappointed in cryptocurrencies.
And now Dave Portnoy has reacquired digital gold in the amount of... 1 bitcoin. “This is all I could afford at $48,000. 50 thousand, and now I have one bitcoin,” stated the creator of Barstool Sports.

- In 1581, the Russian Tsar Ivan the Terrible killed his son, in anger. And now, 440 years later, one of the residents of Moscow filed a complaint with the police against his son, in anger. He did this after he failed to receive over 100 million rubles (approx. $1.35 million) from the family's cryptocurrency mining farm. The Russian created a mining company in 2017 and appointed his 23-year-old son its CEO, while he continued to periodically invest in the business. In April 2021, the company started having problems and the head of the family fired his son. According to his father's calculations, at least 137 million rubles should have been on the company's account, but he found only 18 million, after which he reported to the police.

- New York-based wine distributor Acker, Merrall & Condit has announced that it has begun accepting digital currencies as payment at its auctions and retail stores. Acker, Merrall & Condit is the world's largest fine wine auction house, founded back in 1820. After the pandemic, the company found itself in the same boat as other retailers as most of its offline stores were closed.
To offset the impact of COVID-19, the organization has placed a bid on its own online auction. Prices for some of the best wines it has to offer are around $1000 a bottle. And according to the company's management, it is very fortunate that now they can be paid for with such cryptocurrencies as Bitcoin, Ethereum, Bitcoin Cash and Dogecoin.

- One of the JPMorgan top managers, Daniel Pinto, announced back in February 2021 that his bank was ready to launch a service for operations with bitcoin if the bank's clients needed it. And this week, the Coin Desk portal reported that the American giant decided to launch a fund focused on BTC. The journalists found out that the JPMorgan bitcoin fund will be available only to private clients and will start operating this summer.
Note that the head of this investment bank, Jamie Dimon, had previously repeatedly criticized BTC, stating that the cryptocurrency is a common fraudulent scheme. Daimon even threatened his traders with firing if they tried to invest in bitcoin. But as you can see, the position of Dimon and the policy of JPMorgan have changed significantly now.

- Ethereum co-founder Vitalik Buterin donated 100 ETH and 100 MKR totaling over $600,000 to a fund to fight the coronavirus pandemic in India. Following Buterin, the former CTO of the Coinbase crypto exchange Balaji Srinivasan joined the campaign, donating 21.7463 ETH (almost $550,000 at the time of payment).

- The creator of the stock-to-flow model, a popular cryptocurrency analyst aka PlanB, believes that the current decline in bitcoin is quite normal and expected, and only confirms the bullish trend. The analyst stressed that one should not expect constant growth, sometimes pullbacks should also occur: “Nothing grows without pullbacks. Bitcoin has already been growing for 6 months in a row. This is similar to the mid-cycle correction we saw in 2013 and 2017.”
At the same time, the expert noted that he even “calmed down to some extent”: the market was too overheated, and now a small “cooling” phase awaits it. In addition, the rate of the first cryptocurrency turned out to be lower currently than the expectations of the S2F model, which means it may well continue to grow.

- The bitcoin rate will reach $200,000 in 2022. This forecast was recently announced by Dan Morehead, CEO of venture capital firm Pantera Capital. According to the businessman, BTC is doomed to further growth, as more and more investors begin to understand that storing capital in cryptocurrency is much more efficient than in traditional instruments.
The value of BTC adds $200 every time 1 million new users register on its network. If such dynamics persist, the price of cryptocurrency in 2022 will approach or even exceed the $200,000 mark.
According to Dan Morehead, the spread of bitcoin is a result of, among other things, the growth in the number of smartphone users. There are now about 3.5 billion people in the world who own such devices, making bitcoin available anywhere and at any time.


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  #557  
Old 30-04-2021, 17:04
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Super Lottery: NordFX Gives Away 100,000 USD to Traders




The $100,000 Super Lottery was launched by the brokerage company NordFX among its clients on April 1. The name speaks for itself: 100 cash prizes of $500, $1,000, $2,500 and a super prize of $ 20,000 will be drawn by the year end.

It is quite easy to take part in the lottery and get a chance to win one or even several of these prizes. It is enough to have a Pro account in NordFX (and for those who do not have it - register and open a new one), top it up with $200 and... just trade.

Having made a trading turnover of only 2 lots in Forex currency pairs or gold (or 4 lots in silver), the trader will automatically receive a virtual lottery ticket. The number of lottery tickets for one participant is not limited. The more deposits and the greater the turnover, the more lottery tickets the participant will have, and the greater their chances of becoming a winner of the prize money.

Unlike trader contests, there is no need for a lottery participant to show exceptional trading results. In this case, both experienced professionals and beginners have equal chances of winning. And they can either use the received prize money in further trading, or take it out without any restrictions.

70 prizes of $500 each, 20 prizes of $1,000 each, 10 prizes of $2,500 and 1 super prize of $20,000 will be drawn. The draws will be held on July 1, October 1, 2021 and January 3, 2022.


Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.


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  #558  
Old 02-05-2021, 16:57
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Forex and Cryptocurrency Forecast for May 03 - 07, 2021


First, a review of last week’s events:

- EUR/USD. The last week of April was marked by three events¬: the Fed meeting, as well as the publication of data on the US and Eurozone GDP.
As for the US Fed, the results of its meeting were predictable. The interest rate was left unchanged at 0.25%. The volume of the quantitative easing program (QE) remained the same, $120 billion monthly. And the head of the regulator Jerome Powell uttered almost word for word what we wrote in the previous forecast: although the pace of the US economic recovery is impressive, this is completely insufficient to talk about curtailing fiscal stimulus programs. So far, everything is rather fragile, the acceleration of inflation, according to Powell, is a temporary factor, and the number of people employed remains 8.5 million lower than in February 2020.
On the other hand, US GDP growth in the first quarter was higher than forecast and amounted to 6.4% (against 4.3% a quarter earlier), showing the best dynamics since 1984. The country's economy needs to add just 1% to reach the pre-crisis high. And, most likely, it will fully recover even before the beginning of July by to this indicator.
Such strong statistics led to an increase in the yield of US Treasuries. But this did not help the dollar much until the end of the week, since European bonds were also growing. Germany's 10-year debt rates have hit their highest since March 2020.
The gap between the US and the EU in terms of the speed of return to pre-crisis indicators may also soon be narrowed. ECB President Christine Lagarde said on April 28 that "a light is already visible at the end of the tunnel as the pace of vaccination in the EU accelerates" and that economic recovery is expected to accelerate in the second half of the year.
As a result of the above, the fight between the bulls and the bears on EUR/USD has been going on with varying success all week. Strong inflationary expectations continue to weigh on the dollar. President Joe Biden continues to flood the economy with colossal amounts of money. Following the $1.9 trillion stimulus already approved by Congress, $2.25 trillion in infrastructure development and $1.8 trillion in social support are awaiting their turn. As a result of such steps by the US administration, the dollar went down and the EUR/USD pair renewed its two-month high on Thursday, April 29, reaching 1.2150.
However, thanks to not the most impressive macro statistics from the EU, the European currency nevertheless lost ground on Friday. An additional impetus to the dollar was given by the auction for the placement of treasury bonds on Friday evening, April 30. The US Treasury Department sold $130.6 billion worth of debt securities there. This withdrawal of liquidity from the financial system provided additional support to the American currency. As a result, the pair completed the five-day period significantly below the start of the week, at the level of 1.2020;

- GBP/USD. When providing last week's forecast for the pair, 45% of experts voted for its move north, 35% to the south and the remaining 20% to the east.
As expected by most of them (45%), the pound was strengthening its positions the first four days, and investors started to hope that the GBP/USD pair would break through the 1.4000 level again and return to steady growth, as it had been since the end of March 2020 until the end of February 2021 However, having reached 1.3975, its movement stalled, the bearish pressure intensified, and it collapsed downward at the very end of the week, as 35% of analysts had expected. Pushed by the results of the auction held by the US Treasury, the pair reached the local bottom at the 1.3800 horizon. This was followed by a couple of small bounces and a finish at 1.3810, which can be considered the Pivot Point of the last 9 weeks. So, those 20% of experts who voted for the sideways trend of the pair were also satisfied;

- USD/JPY. It has already been said that the yield on US government bonds has been the key indicator for this pair. It was growing over the past week. The dollar grew along with it against the yen. As a result, the USD/JPY pair rose above the level of 109.00 and, having added 145 points, completed the trading session at 109.30;

- cryptocurrencies. When making a forecast seven days ago, we wrote that the main task of the bulls last week would be to keep the BTC/USD pair in the $ 50,000 area. And, they succeeded, though with difficulty. Despite the fact that the quotes fell to $47,000 on April 25, they managed to rise again to the $50,000-55,000 zone. Investors and speculators began to actively acquire coins at the bottom, counting on further profits. And if the total capitalization of the crypto market was at the level of $1.750 trillion on April 26, it had already reached $2.110 trillion on the last day of the month.
Although not much, the news background helped the bulls. So, the news portal Coin Desk reported that the American financial giant JPMorgan had finally decided to launch a fund focused on BTC. Reporters found out that this bitcoin fund will start operating this summer.
The launch of Bitcoin-ETF could serve as another support factor. However, the US Securities and Exchange Commission (SEC) postponed its decision on the VanEck application until June. At the moment, a total of 10 applications for launching ETFs have been submitted, and the regulator decided that it needs more time to study them.
So, the main cryptocurrency stayed in the area around $50,000. But it was never able to rise above the 50-day moving average, which has served as sustained support for the BTC/USD pair since October 2020. As the quotes approach this line, which has now become resistance, the activity of buyers begins to fall sharply. And this is a rather alarming sign for investors: the market is in thought, which is confirmed by the Crypto Fear & Greed Index located in the heart of the neutral zone: at the level of 51 points.
We have repeatedly said that in such a situation of uncertainty with the reference cryptocurrency, many investors are turning their attention to altcoins. Bitcoin continues to lose ground. If its share in the total capitalization was 72.65% on January 2, and 50.70% on April 23, then it fell even lower by the end of the month, reaching the level lowest since July 2018: 47.87%.
On the other hand, the attractiveness of Ethereum is constantly growing. CoinMetrics calculates that the hashrate in the Ethereum network has grown by 89% over the past 100 days. And the ETH/USD pair, unlike Bitcoin, continues to update historical highs over and over again, rising to a height of $2,790 on April 29.


As for the forecast for the coming week, summarizing the views 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 weakening of the dollar, which has become almost the main safe haven asset during the pandemic, is facilitated by the growth of inflation expectations, which exceeded 2.4% and reached a high since 2013. The huge financial injections should lead to a record growth in US GDP, which, accordingly, entails an increase in risk sentiment and investors' attraction to the stock market. According to Dow Jones Market Data, the S&P500 rose 11% during Joe Biden's first 100 days as President of the United States. This was the best result since President Franklin Roosevelt in 1933, and on average, since 1929, stock indices grew by 3.2% annually.
On the other hand, being the most powerful in the world, the US economy will pull up with it the economies of other countries, leveling the gap in the speed of their recovery. The dollar should also be helped by an increase in yields on US Treasury bonds.
So far, giving a forecast for the coming week, 60% of experts expect that the EUR/USD pair will try to go up again. The nearest resistance is 1.2055 and 1.2100, the target is to reach the April 29 high of 1.2150. 70% of oscillators and 75% of trend indicators on D1 agree with this forecast. The remaining 30% of the oscillators are colored neutral grey.
When moving from a weekly to a monthly forecast, the opinion of experts changes radically. Here, 75% of them are waiting for the dollar to strengthen and the pair to drop to the 1.1900 zone, and then another 100 points lower. The target of the bears is to update the March 31 low of 1.1704.
Graphical analysis on D1 indicates the movement of the pair in the trading range of 1.1945-1.2150. At the same time, according to its readings on H4, the pair first faces a decline to the lower border of this channel, and then a rebound upward.
As for the events of the coming week, one should note the publication of ISM business activity data in manufacturing (May 3) and private (May 5) sectors of the United States. We are also waiting for US employment data: the ADP report will be released on Wednesday May 5, and the number of new jobs created outside the agricultural sector (NFP) will be known on Friday May 7.
The European consumer market is likely to delight investors on May 3 and 6. The fall in retail sales in Germany is forecast to narrow from -9.0% to -3.15%. Retail sales in the Eurozone as a whole may, according to forecasts, grow from -2.9% to + 9.4%;

- GBP/USD. The main event for the British currency will be the meeting of the Bank of England on Thursday, May 6, which will be devoted to monetary policy. The interest rate is most likely to remain unchanged at 0.1%. As for QE, the volume of purchases of government bonds may be reduced from ?895 to 875 billion. If this happens, the market will receive a signal about the intention of the British regulator to start tightening its policy.
The bank may also revise its forecasts regarding the speed of economic recovery in the country. There are many reasons for this. Thus, unemployment in Great Britain decreased by 0.1% in the first quarter, from 5.0% to 4.9%. Almost 30 million people have already been vaccinated in the country, of whom more than 2.5 million received two doses of vaccines against COVID-19. Some of the quarantine restrictions have been removed. And all these are positive factors for the pound, which may push the GBP/USD pair up again. This is confirmed by the forecasts of graphical analysis on H4 and D1.
As for the readings of technical indicators, they look rather indistinct on D1 due to the sideways movement of recent weeks. On H4, naturally, most are painted red, although 25% of oscillators signal the pair is oversold.
As for the experts, 60% expect the pair to grow at least to the level of 1.4000. In case it manages to break through it, the next target is 1.4240. The nearest resistance levels are 1.3860, 1.3925 and 1.3975.
The remaining 40% of analysts side with the bears. The main support is in the zone 1.3670-1.3700, then - 1.3600;

- USD/JPY. The experts' opinion coincides completely with what was expressed a week earlier. 70% of them believe that the pair will go south again, below the horizon at 109.00. The next supports are 108.40 and 107.45. The remaining 30% of analysts expect the pair to continue to rise. Resistance is at 110.00, the target is to rise another 100 pips to 111.00.
As for the indicators, 75% of oscillators and 100% of trend indicators on H4, and, respectively, 70% and 95% on D1 are coloured green. The remaining oscillators signal that the pair is overbought. Graphical analysis on both time frames indicates a fall of the pair to the level of 107.45;

- cryptocurrencies. So, as it was said in the first part of the review, the BTC/USD pair did not manage to break above the 50-day moving average on the last day of April. And this looks like a wake-up call for investors. Especially because the fall below this line happened for the first time since the beginning of October last year, when the pair just broke the $10,000 level.
The Bitcoin Dominance Index also fell below 50%, which, attracting institutions, dragged the entire crypto market up with it like a locomotive.
Taken together, both of these factors, according to a number of analysts, strongly resemble the situation in January 2018, which marked the beginning of a protracted crypto winter.
But, along with pessimists, the voices of optimists are usually heard. Thus, the creator of the stock-to-flow model, a popular cryptocurrency analyst known as PlanB, believes that the current decline in bitcoin is quite normal and expected, and only confirms the bullish trend. The analyst stressed that one should not expect constant growth, sometimes pullbacks should also occur: “Nothing grows without pullbacks. Bitcoin has already been growing for 6 months in a row. This is similar to the mid-cycle correction we saw in 2013 and 2017.”
PlanB noted that he even “calmed down to some extent”: the market was too overheated, and now a small “cooling” phase awaits it. In addition, the rate of the first cryptocurrency turned out to be lower currently than the expectations of the S2F model, which means it may well continue to grow.
Dan Morehead, CEO of venture capital firm Pantera Capital, is also positive. According to the businessman, BTC is doomed to further growth, as more and more investors begin to understand that storing capital in cryptocurrency is much more efficient than in traditional instruments.
According to the calculations by the head of Pantera Capital, the value of BTC adds $200 every time 1 million new users register on its network. If such dynamics persist, the price of cryptocurrency in 2022 will approach or even exceed the $200,000 mark.
According to Dan Morehead, the spread of bitcoin is a result of, among other things, the growth in the number of smartphone users. There are now about 3.5 billion people in the world who own such devices, making bitcoin available anywhere and at any time.


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.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market

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  #559  
Old 04-05-2021, 17:17
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New NordFX Savings Account: Investment Income Plus Trading Income




The new Savings Account from NordFX represents a unique know-how developed by the company's specialists, based on DeFi technology. This account allows you not only to receive passive income up to 30% per annum, but also to increase your profits through operations in the financial markets. It is just enough to take a trade loan at only 3%.

DeFi (from the English "Decentralized financing") is a term for special applications in cryptocurrency or blockchain, aimed at eliminating financial intermediaries. It is these advantages of DeFi that have formed the basis of the innovative new NordFX Savings Account, allowing its owners to generate profits many times higher than interest on bank deposits. Passive income on their investments is currently about 30% per annum and may vary.

The world's most popular stablecoin, Tether (USDT), the rate of which is secured by real US dollars in a ratio of 1:1, is used as the account currency. The minimum deposit amount for this account is equal to $500. In addition to USDT, deposits are also allowed with USDC and DAI stablecoins, which will be automatically converted to USDT. Withdrawals are also possible in USDT.

The undoubted advantage of this account is the ability to take a trade loan secured by the funds placed in it. The interest on the loan is only 3% per annum and is deducted from the investment income. The loan funds are instantly credited to the balance of the Trader's Cabinet and can be used for trading on terms similar to those of a Zero account.

This feature gives account holders the opportunity to maximize returns on their investments through trading in financial markets.

Investment income is credited to the Savings Account on a daily basis and can be withdrawn at any time without restrictions.


Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.


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  #560  
Old 05-05-2021, 18:11
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CryptoNews


- Experts at JPMorgan believe that Ethereum may become more efficient than Bitcoin in the future. Many DeFi application developers are already using the Ethereum blockchain more than the main net.
Experts note that this altcoin is more resistant to external factors. Bitcoin, on the other hand, reacts to almost every major fluctuation in the market, which leads to its correction straight away. Investors in the main cryptocurrency are not very worried about minor jumps, however, with a long negative trend, they start to withdraw assets quickly. During the recent correction, it was Bitcoin that lost most of its capitalization.
“Bitcoin, on the other hand, is very narrow in its application, which is evident from a variety of factors. It is Most often used as an asset for investment. All new major projects are developed on the basis of Ethereum. It has more liquidity, and ETH has recently substantially increased its position in the spot market. Another advantage of Ethereum is its rather large and developed ecosystem,” JPMorgan analysts note.

- Founded in 1744, Sotheby's will auction the work of street art genius Banksy, Love is in the Air. They plan to accept bets in US dollars, bitcoins and ethereums. The work has been initially estimated at $3-5 million. The auction will take place on May 12 and will be the first experience for Sotheby's in selling works of art for cryptocurrency.

- S&P Dow Jones Indices, a division of US financial data provider S&P Global, has launched indices based on Bitcoin, Ethereum and a basket of these cryptocurrencies. The S&P Bitcoin Index received the ticker SPBTC, the S&P Ethereum Index - SPETH, which tracks the dynamics of these two assets, the S&P Crypto Mega Cap Index - SPCMC.
Indices are calculated in points, not in US dollars. According to a S&P spokesman, instead of the actual cost, they reflect price changes, and should compete with counterparts from Bloomberg and Galaxy.
The data is calculated on weekdays and will be available by subscription for service customers. Rebalancing is carried out on a quarterly basis.

- Back in May 2019, crypto enthusiasts noticed an advertisement for the American online trading giant eBay with the words “Virtual Currency. It's happening on eBay. " Later, representatives of the site denied rumors about adding support for cryptocurrencies. And now, two years later, on CNBC, the head of the company, Jamie Iannone, said that eBay is still considering the possibility of accepting payments in digital assets.

- Renowned crypto trader and strategist Mikael van de Poppe has shared a bold prediction for the future of bitcoin. “I am quite confident that we are in a bullish cycle and it is really difficult to rely on a bear market, especially given the inflation of the US dollar,” he said.
“Given the fact that institutional money is flowing in, bitcoin is becoming more widespread. This means that there is now a large demand and a relatively small supply, which will lead to an increase in the price, continues Van de Poppe. - Will Bitcoin get to $300,000 or $500,000? I think so. If we carry out simple calculations, the peak of the BTC rate should be $500,000. Given the data on the top of the cycle, it can be assumed that the average rate will be above $250,000. And it can get to $350,000 - $450,000 within a year.”
“But besides, we will have long sideways,” added the specialist.

- Ethereum continues to rise in price amid the growing popularity of decentralized finance (DeFi) applications designed to replace banks and insurance companies. The price of the leading altcoin surpassed $3,000 on May 3, for the first time in history. As a result, the fortune of Ethereum creator Vitaly Buterin, who owns 333,520 coins, reached $1.09 billion.
Thus, 27-year-old Buterin has become the youngest billionaire in the world who made his fortune on cryptocurrency. His fortune has grown almost 25 times since the beginning of 2020, according to Forbes.

- A startup employee told a story about how the employer demanded that the salary paid in cryptocurrency be returned after its rate increased by 700%.
According to him, the CEO of the company offered him a settlement in cryptocurrency at the signing of the contract in the spring of 2020. The contract contained a clause that the employer could have him being paid in dollars, but the employee refused to do so.
And just recently, he received a message from his employer demanding the return of all the cryptocurrency. “In return, you can bill the company for hours worked in dollars,” the letter read.
The MarketWatch portal, on which the story was published, advised him not to return the cryptocurrency, since the employer would hardly want to pay extra if the rate collapsed.
Although the author does not specify the name of the cryptocurrency, Ethereum fits the description, the rate of which has grown by 790% since August 1.

- Bitcoin is less volatile than stocks of companies such as Apple and Tesla, said the head of the cryptocurrency exchange Binance Changpeng Zhao in an interview with Bloomberg TV. According to Zhao, significant price fluctuations are observed not only in the cryptocurrency, but also in the stock market. At the same time, Bitcoin is less volatile than shares of companies with comparable market capitalization.
According to him, “profit hunters” are often to blame for this. They do not analyze the market but invest money in assets against the backdrop of positive news. “There are always more people driven by herd instinct than those who really do serious research. When negative news appears, they leave the market, when positive news appears, they try to enter again. This causes a lot of volatility,” explained the CEO of Binance.
Earlier, Zhao advised traders who are stressed by every price drop to change their strategy to buy and hold. In his opinion, this is not the best recommendation for professionals, but good advice for beginners.

- Bitcoin is disgusting and contrary to the interests of civilization, said fellow Warren Buffett, 97-year-old billionaire Charles Munger. “Of course, I hate Bitcoin's success. I do not welcome currency, which is created out of thin air and is so useful for kidnappers and extortionists,” Munger emphasized.
At the same time, another critic of cryptocurrency, billionaire Warren Buffett, this time declined to comment on Bitcoin. The legendary investor emphasized that digital money is now supported by "hundreds of thousands against two people." “We have a choice: to make 400 thousand people angry and upset, or to make two happy,” he noted ironically.

- American financial services giant Mastercard has presented the results of its research conducted in 18 countries in various regions of the world. According to its data, 40% of consumers plan to use crypto assets for their payments next year. Among millennials, the figure is even higher, reaching 67%.


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