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Thursday, August 31, 2017

[FOREX NEWS] AUD/NZD and EUR/NZD technical setups

The New Zealand dollar doesn’t provide too many technical indicators, but it certainly has its share of technical setups. Here are two trading ideas: Here is their view, courtesy of eFXnews: AUD/NZD: A ‘Fading Star’; What’s The Trade? – ANZ ANZ FX Strategy Research favors fading NZD strength from here arguing that the good news story [...]

The post AUD/NZD and EUR/NZD technical setups appeared first on Forex Crunch.



via Forex Crunch

CryptoCurrency News: Illinois Launches Blockchain Pilot to Digitize Birth Certificates

Illinois' state government has launched a new blockchain pilot focused on the digitization of new birth certificates.

via CoinDesk

CryptoCurrency News: Bitcoin Price Jumps Above $4,800 for the First Time

The price of bitcoin has risen above $4,800 for the first time, market data reveals.

via CoinDesk

CryptoCurrency: Ethereum News September 01, 2017 at 05:05AM #ETH

Financial Commission Aligns Industry Experts To Provide #TokenOffering Certifications https://t.co/PAld6igUPT

[MORE]

CryptoCurrency News: Weeks After Seizure, Troubled Bitcoin Exchange BTC-e Is Back Online

A new web portal for the troubled bitcoin exchange BTC-e has been launched, allowing users to access and check their balances.

via CoinDesk

CryptoCurrency: Ethereum News September 01, 2017 at 04:00AM #ETH

EU 2018 Budget Amendment Calls For Development Of #DLT-Based Identities For #Refugees https://t.co/CZDXgwEfeU

[MORE]

CryptoCurrency: Ethereum News September 01, 2017 at 03:35AM #ETH

Vnesheconombank Clarifies Agreement Was Not With Ethereum Foundation, But With Ethereum Russia https://t.co/15mTIUIrBQ #Ethereum

[MORE]

CryptoCurrency News: F2Pool Reneges: Mining Pool Pulls Segwit2x Support Over Hard Fork

Controversial scaling proposal, Segwit2x has lost Chinese mining pool, F2Pool's support over its timeline for a 2MB hard fork.

via CoinDesk

Wednesday, August 30, 2017

CryptoCurrency News: HSBC, Barclays Join Settlement Coin as Bank Blockchain Test Enters Final Phase

Utility Settlement Coin is moving into its third phase – building a kind of blockchain-based fiat testnet – with six new partners.

via CoinDesk

CryptoCurrency: Ethereum News August 31, 2017 at 06:25AM #ETH

Israeli Committee To Examine #TokenOffering Regulation https://t.co/mEFVkEg5hH #Israel

[MORE]

CryptoCurrency: Ethereum News August 31, 2017 at 05:57AM #ETH

The Port Of Melbourne Is Thinking Of Disrupting Itself https://t.co/8eqCwlZT4d #blockchain #australia

[MORE]

CryptoCurrency: Ethereum News August 31, 2017 at 04:43AM #ETH

VISA To @shakepay & @xapo: Cease #Cryptocurrency Debit Card Operations Outside #Europe https://t.co/3KRQZZX5xG

[MORE]

CryptoCurrency News: ICO Oversight? Israeli Regulators Form Token Sale Study Committee

Israeli regulators are studying whether to apply the country's existing securities laws to the initial coin offering (ICO) model.

via CoinDesk

CryptoCurrency News: New AMD Graphics Card Sells Out In Minutes Amid Crypto Mining Boom

AMD's new graphics card is already sold out, a development that comes as cryptocurrency miners seek the latest GPUs to power their mines.

via CoinDesk

CryptoCurrency: Ethereum News August 31, 2017 at 01:35AM #ETH

Russia’s #Vnesheconombank To Develop Government Applications For #Blockchain Tech With #Ethereum Foundation https://t.co/o7YnvCHOnx

[MORE]

CryptoCurrency News: Embattled BTC-e Outlines Three-Stage Process for Bitcoin Exchange Relaunch

BTC-e has released a new update about its relaunch plans weeks after it was the target of a US crackdown.

via CoinDesk

CryptoCurrency News: Jaguar-Backed Blockchain Startup Wants to Trade Tokens for Transport Data

A UK-based blockchain startup backed by Jaguar Land Rover's venture arm is moving to build a platform for collecting transport data.

via CoinDesk

CryptoCurrency News: Monero Is Getting Its Own Version of LocalBitcoins

A group of enthusiasts have launched a new website dedicated to connecting buyers and sellers of the privacy-focused cryptocurrency monero.

via CoinDesk

CryptoCurrency News: Ethereum Foundation Strikes Deal with Russian Development Bank

The non-profit that supports development of the ethereum protocol has inked a deal with a state-backed development bank in Russia.

via CoinDesk

CryptoCurrency News: Why Big Investors Are Betting Real Money on a Kik Cryptocurrency

After putting millions into Kik's ICO, the startup's investors are speaking out about their reasons for buying into the experimental token sale.

via CoinDesk

[FOREX NEWS] US GDP revised up to 3% – USD looks strong

The good news from the US keeps on flowing: Q2 GDP was revised up to the magic number of 3% annualized. President Trump will probably take a victory lap on this number. Among the details: personal consumption is up to 3.3% from 2.8%. The GDP prices index remains at 1% and core PCE at 0.9%. [...]

The post US GDP revised up to 3% – USD looks strong appeared first on Forex Crunch.



via Forex Crunch

CryptoCurrency News: Coinbase Furthers Fight Against Cryptsy Lawsuit in New Filing

Coinbase is moving ahead with its appeal of a court decision from earlier this summer related to the failed cryptocurrency exchange Cryptsy.

via CoinDesk

[FOREX NEWS] ADP NFP beats expectations with 237K

ADP was expected to report a gain of around 183K private sector jobs in August. In July, the payrolls software company reported a rise of 178K jobs. This report serves as a hint towards Friday’s NFP, despite not always providing a direct correlation with the official BLS number. The US dollar continued its path of [...]

The post ADP NFP beats expectations with 237K appeared first on Forex Crunch.



via Forex Crunch

[FOREX NEWS] German HICP beats expectations with 1.8% y/y

A slightly stronger level of inflation, at least in the European standard “Harmonized” version, HICP. prices rose by 0.2% m/m and 1.8% y/y, another acceleration that will push euro-zone inflation higher. Price rises stood at 1.5% y/y beforehand in the HICP and 1.7% in the national level. So, the euro-zone inflation level could be higher [...]

The post German HICP beats expectations with 1.8% y/y appeared first on Forex Crunch.



via Forex Crunch

CryptoCurrency News: Citi Speaks: State-Backed Cryptocurrency Key to Blockchain Adoption

Citi's head of cash management for Asia-Pacific explains why state-issued currencies on a blockchain could supercharge the technology's potential.

via CoinDesk

CryptoCurrency News: Hard Forks Galore: Bitcoin Cash Debates Ambitious Tech Roadmap

Recent commentary among developers hints at how bitcoin cash may seek to improve its technology and further its already large economic network.

via CoinDesk

CryptoCurrency News: WhopperCoin: Burger King Russia Launches Blockchain Loyalty Program

Burger King meets blockchain as the fast-food chain's Russian branch is set to launch a new cryptocurrency-based loyalty program.

via CoinDesk

CryptoCurrency News: Why Miners Are Mining Bitcoin Cash – and Losing Money Doing It

Jimmy Song takes a look at developments on the bitcoin cash blockchain, arguing it's providing evidence of shifting miner behavior.

via CoinDesk

Tuesday, August 29, 2017

CryptoCurrency: Ethereum News August 30, 2017 at 11:30AM #ETH

.@bankofengland Issues Report On #Securities Settlement Through Distributed Ledger And #Blockchain Technology https://t.co/4lr7tCYU3f

[MORE]

CryptoCurrency: Ethereum News August 30, 2017 at 08:25AM #ETH

Mitsui O.S.K Lines Teams Up With NTT DATA-led #Blockchain Consortium https://t.co/J7TOlN8EgD @NTTDATA_PR

[MORE]

CryptoCurrency: Ethereum News August 30, 2017 at 07:52AM #ETH

.@Gen_Re Looks At #Blockchain Technology For Re-Insurance Market https://t.co/anbOzZjXBi @iXledgertech

[MORE]

CryptoCurrency: Ethereum News August 30, 2017 at 07:13AM #ETH

Habitat For Humanity #Texas Accepting Donations Of #Ether To Help #HurricaneHarvey Victims https://t.co/DkmZFTIi4n @HabitatTexas

[MORE]

CryptoCurrency News: Mobile Messenger Kik Raises $50 Million Ahead of $75 Million ICO

Mobile messaging app Kik has raised $50 million from the private sale of its ethereum token Kin to institutional investors, including Blockchain Capital, Pantera Capital and Polychain Capital. The announcement is notable as Kik's Kin token may well be the first mainstream adoption of a custom cryptocurrency by a well-known company – Kik claims 15 million active users, about […]

via CoinDesk

CryptoCurrency: Ethereum News August 30, 2017 at 04:07AM #ETH

Growth In #VirtualCurrency Exchange Complaints At @CFPB, But #ICOs Fly Under The Radar https://t.co/Os5VfF9akm #Coinbases #CFPB

[MORE]

CryptoCurrency: Ethereum News August 30, 2017 at 03:09AM #ETH

.@joinindorse Announces Token Airdrop https://t.co/4caNiROGrU #IND

[MORE]

CryptoCurrency News: Report: Customer Complaints Against Coinbase Are on the Rise

Cryptocurrency startup Coinbase is receiving the lion's share of customer complaints filed with the US government, according to a new report.

via CoinDesk

CryptoCurrency News: China's Central Bank Visits US on Blockchain Research Trip

Representatives from the People's Bank of China are now visiting the US in an attempt to get up to speed on blockchain tech and regulation.

via CoinDesk

CryptoCurrency News: Columbian Central Bank to Test R3 Distributed Ledger Software

Banco de la Republica Colombia, the South American nation's central bank, has officially joined the R3 distributed ledger consortium.

via CoinDesk

[FOREX NEWS] US CB Consumer Confidence beats with 122.9 – USD ticks up

The Conference Board’s consumer confidence measure was expected to tick down from 121.1 points in July to 120.3 in August. Earlier, the S&P Case Shiller 20-city HPI rose by 5.65% y/y, as expected. The US dollar was on the back foot, with EUR/USD breaking above 1.20, USD/JPY edging closer to the lows, GBP/USD sneaking its way [...]

The post US CB Consumer Confidence beats with 122.9 – USD ticks up appeared first on Forex Crunch.



via Forex Crunch

[FOREX NEWS] Why this NFP could be very volatile – 5 reasons

This could be a more volatile NFP for various reasons. Will the dollar continue falling or will it bounce back like it did in reaction to the previous jobs report? Here are five reasons why this report could trigger a higher level of volatility, followed by expectations and scenarios for a reaction. 5 reasons for [...]

The post Why this NFP could be very volatile – 5 reasons appeared first on Forex Crunch.



via Forex Crunch

CryptoCurrency News: The Bitcoin Price Just Set a New All-Time High Above $4,550

The price of bitcoin is now trading at its highest level ever, according to data from the Bitcoin Price Index.

via CoinDesk

CryptoCurrency News: Bitcoin Meets Zcash: Developers Test Tool for Trustless Trades

A new tool showcases how the future of cryptocurrency trading might look with the introduction of cross-blockchain atomic swaps.

via CoinDesk

CryptoCurrency News: Russian Regulator: Bitcoin Should Be Limited to 'Qualified Investors'

A new development in Russia hints at what a changing regulatory environment could bring for bitcoin users.

via CoinDesk

CryptoCurrency News: Ether Prices Surge Above $360 to Hit Two-Month High

Prices of ethereum's ether token have risen sharply over the past 24 hours and have reached levels not seen for over two months.

via CoinDesk

CryptoCurrency News: A World Without Brokers? Insurance Consortium Reveals 'Codex 1' Blockchain

In a CoinDesk exclusive, blockchain insurance consortium B3i outlines how its DLT prototype could ultimately eliminate brokers from the equation.

via CoinDesk

CryptoCurrency News: Luxembourg Regulators Issue Investor Warning Against OneCoin Scheme

Regulators in Luxembourg have released a warning to investors about OneCoin, becoming the latest country to air concerns over the investment scheme.

via CoinDesk

CryptoCurrency News: SegWit's Slow Rollout: Why Bitcoin's Capacity Hasn't Seen a Sudden Boost

When SegWit finally activated last week, the code change didn't immediately make its benefits possible. So, when can we expect to see some benefits?

via CoinDesk

[FOREX NEWS] EUR/USD seems unstoppable – breaks “whatever it takes” level

EUR/USD was only gradually getting closer to 1.20, but when it made a move, it was quite significant, to say the least. EUR/USD is already trading at 1.2067, a gain of around 90 pips on the day. After breaking above 1.20, the pair reached these new levels after an hour and 15 minutes. On the [...]

The post EUR/USD seems unstoppable – breaks “whatever it takes” level appeared first on Forex Crunch.



via Forex Crunch

CryptoCurrency News: Reports: China's Regulators Consider Suspending All ICOs

Reports from China suggest regulators may be close to taking action against entrepreneurs seeking to launch domestic token sales.

via CoinDesk

Monday, August 28, 2017

CryptoCurrency: Ethereum News August 29, 2017 at 08:35AM #ETH

Russian #Blockchain Technology Research Center In The Works https://t.co/6cdqAuDs9q #blockchain

[MORE]

CryptoCurrency: Ethereum News August 29, 2017 at 07:47AM #ETH

SEC May Suspend Trading Of Stocks For Companies That Engage In Token Offerings https://t.co/xqh13XpkC7 #SEC #TokenOffering

[MORE]

CryptoCurrency News: $160 Billion: Cryptocurrency Market Sets New All-Time High

Investment in cryptocurrencies continues apace, with the market setting a notable new high today for total investment.

via CoinDesk

CryptoCurrency: Ethereum News August 29, 2017 at 06:38AM #ETH

Banco de México Governor: #Bitcoin Is Not A Currency https://t.co/d6WPDTuRMZ #Mexico @Banxico

[MORE]

CryptoCurrency: Ethereum News August 29, 2017 at 05:35AM #ETH

Russia Backpedals On #Cryptocurrencies https://t.co/uQQWmmo14m #Russia

[MORE]

CryptoCurrency: Ethereum News August 29, 2017 at 05:02AM #ETH

SEC Suspends Trading of American Security Resources Corp. https://t.co/p9l7wjJ2ZL #SEC #blockchain

[MORE]

CryptoCurrency News: SEC Warns Public Companies Are Using ICOs to Pump Stocks

The SEC has a message for would-be investor in cryptocurrency companies with publicly traded stocks: watch out.

via CoinDesk

CryptoCurrency News: Russia's Vnesheconombank Unveils New Blockchain Research Centre

Vnesheconombank is partnering with the Russian government to establish a new blockchain and quantum computing research hub.

via CoinDesk

CryptoCurrency News: Bitcoin Short: ETF Firm Rex Eyes Downside Potential With New Fund Launch

Connecticut-based REX ETF wants to offer investors a way to short the bitcoin market.

via CoinDesk

CryptoCurrency News: Blockchain Data Storage Startup Bluzelle Raises $1.5 Million Series A

Blockchain data storage startup Bluzelle has raised $1.5 million in new funding from a trio of venture capital firms.

via CoinDesk

CryptoCurrency News: Bank of England: DLT Shift Could Lead to New Monopolies in Securities Sector

The U.K.'s central bank has warned that a shift to DLT could bring about both positive and unwelcome changes in the securities settlement industry.

via CoinDesk

CryptoCurrency News: Bank of Mexico Governor: Bitcoin More Commodity Than Currency

The highest-ranking official at Banco de Mexico has stated that the central bank is unlikely to classify bitcoin as a currency.

via CoinDesk

[FOREX NEWS] GBP/USD rides higher on soft Brexit, unconvincing Fed

Is the UK getting closer to a softer Brexit? The government has already “climbed down” from a firm objection to having foreign courts making judgements on British matters. “Blurring the red lines” by the government has now been compounded with an end to ambiguity by the opposition. The Labour Party announced it is ending its [...]

The post GBP/USD rides higher on soft Brexit, unconvincing Fed appeared first on Forex Crunch.



via Forex Crunch

CryptoCurrency News: Damn Strate: Post-Trade Pioneer Monica Singer Is Going Full-Time Blockchain

Just days after resigning from South Africa's central securities depository, the former CEO reveals plans to enter the blockchain space full-time.

via CoinDesk

CryptoCurrency News: ATMchain? Card Giant China UnionPay Files New Blockchain Patent

China UnionPay, the payment card giant, hopes to patent a system for connecting a network of ATMs using blockchain tech, public records reveal.

via CoinDesk

CryptoCurrency News: Litecoin Price Surges to New All-Time High Over $60

Litecoin prices have surged over the past 24 hours, reaching a new all-time high following a month of sideways trading.

via CoinDesk

CryptoCurrency News: Third in a Month: SEC Moves to Halt OTC Trading for Bitcoin Firm

The U.S. Securities and Exchange Commission has frozen the trading of shares for a bitcoin-related firm for the third time this month.

via CoinDesk

CryptoCurrency News: 'Submarine Sends': Inside IC3's Plan to Clamp Down on ICO Cheats

One blockchain's most notable research groups has alleged there's cheating in the red-hot initial coin offering market. But they have a solution.

via CoinDesk

CryptoCurrency News: Annyeong Bitcoin: South Korea, Canada and a Changing Crypto Market

CoinDesk's Ash Bennington charts the explosive growth in South Korea's crypto trading volume, contrasting it Canada's continued woes.

via CoinDesk

Sunday, August 27, 2017

[FOREX NEWS] Here Is The Bottom Line For EUR/USD Post-Jackson Hole – Nordea

EUR/USD is trading higher following the speeches of Mario Draghi and Janet Yellen in Jackson Hole. What’s next? Here is the bottom line from Nordea: Here is their view, courtesy of eFXnews: Nordea FX Strategy Research notes that even with no news speeches from Fed Yellen and ECB Draghi at Jackson Hole, EUR/USD actually did care, [...]

The post Here Is The Bottom Line For EUR/USD Post-Jackson Hole – Nordea appeared first on Forex Crunch.



via Forex Crunch

CryptoCurrency: Ethereum News August 28, 2017 at 04:42AM #ETH

The advent of e-government https://t.co/3aiaISTnGm

[MORE]

CryptoCurrency News: Can't Be Evil: The Google-Inspired Case for Blockchain Tech

Google's signature catch-phrase might hint at problems inherent in the internet, and why blockchain-inspired change is needed.

via CoinDesk

CryptoCurrency News: Charlie Shrem's Next Act? Helping This Blockchain Startup Disrupt Music

With Charlie Shrem and a Pinterest executive as advisers, blockchain startup Viberate is looking to eliminate the music business's middlemen.

via CoinDesk

[FOREX TIP] Weekly Forex News Events for EURUSD – 28th Aug to 1st Sept 2017

EURUSD finished with huge bullish momentum last week. The pair broke some significant level of resistance and the buyers will be keen to buy the pair more on weakness next week. Some high impact news events are to take place next week. Let us have a look at those.

Tuesday-29th August- GMT 14.00

  • CB consumer confidence

Intraday EuroUsd traders should deal with this carefully since it often produces huge spikes on the intraday charts.

Wednesday-30th August- GMT 12.15

  • ADP Non-Farm employment change

This news event has the potential to produce extreme volatility and opportunities for the intraday traders.

Wednesday-30th August- GMT 12.30

  • Prelim GDP q/q

This is another news event, which has to be taken care of by the intraday traders.

Wednesday-30th August- GMT 14.30

  • Crude oil inventories

It does not always create volatility, but it could be a very volatile news event since it is directly related to the USD and Oil.

Thursday-31st August- GMT 12.30

  • Unemployment claims

First Unemployment data of the month always plays an important role in the market. Thus, traders should be careful before this news event, but look for the opportunities after the news event’s impact.

Friday-1st September-GMT 12.30

  • Average hourly earnings m/m
  • Non-farm employment change
  • Unemployment change

EURUSD traders please be very careful before these news events. The pair is bound to get to its extreme volatility level. Traders who trade on big time frames, this would be the day to look for their trading opportunities.

The post Weekly Forex News Events for EURUSD – 28th Aug to 1st Sept 2017 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

Saturday, August 26, 2017

CryptoCurrency News: Risk or Reward: What It Takes for an Exchange to Cash In on a New Currency?

As bitcoin cash's budding market continues to develop, CoinDesk looks at why some major exchanges haven't yet opted to list the coin.

via CoinDesk

CryptoCurrency News: Blockchain's 4 Biggest Assumptions

How can investors think critically about blockchain? Investor Wendy Xiao Schadeck poses four burning questions.

via CoinDesk

[FOREX TIP] AUDUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

USDCAD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

The AUDUSD has been trapped inside a very narrow range few pips below the big psychological resistance 0.8000. The 0.8000 resistance level remain the key level and the line in the sand, a break and a daily close above this figure will open the door for the bullish trend to resume.

The stochastic indicator is already in overbought territory a signal that can trigger early in the week a retest of intraday support level 0.7875. A break and a daily close below support level will open up the door for a retest of 0.7790. However, as long as we trade within the limits of the current range expect more consolidation.On the Australian economic calendar we can’t see any notable risk event so expect the market to be driven more by the technical levels.

Previous AUDUSD Weekly Forex Forecast

AUDUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

The post AUDUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] USDCAD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

USDCAD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

The USDCAD continued to drift lower in a very slow market and a tight range. The weekly break and close below the big psychological number is very bearish and now there is a possibility to take the current year low of 1.2410. A break and a daily close below can open up the door for more downside pressure and a retest of next important support level 1.2300.

However, as long as we stay above 1.2410, we can still see a bounce early in the week since the stochastic indicator is in an oversold condition. The first level of resistance is obviously 1.2500 followed by 1.2570. A daily break and close above can open up the door for a deeper retracement towards 1.2750.The only notable risk event on the Canadian economic calendar is the second quarter GDP reading which is on track to hit 3.7% annualized rate.

Previous USDCAD Weekly Forex Forecast

USDCAD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

The post USDCAD Weekly Forex Forecast – 28th Aug to 1st Sept 2017 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] GBPUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

GBPUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

The GBPUSD has ended the previous week almost on a flat note. Last week sell off found a bottom at 1.2774 which now is the key support level going forward into the new week. However, first we need a break below 1.2840 to open up for a possible retest of last week low. The stochastic indicator is already in oversold conditions so we might see first at least a pause in the current rally. On the upside 1.2918 intraday resistances is the first hurdle for the bulls. But, the major resistance level remains the big psychological number 1.3000. A daily break and close above this figure is very bullish and it can be the start of another leg higher possibly toward a new year high.

The UK economic calendar will not bring any notable risk event that can prop higher the GBP/USD volatility. Monday we’ll have low activity due to Summer Bank Holiday. The only significant risk event is the Inflation Report Hearings scheduled on Wednesday. From the other side of the Atlantic Ocean, we have the NFP report on the first Friday of a new month. Based on the market consensus we should expect a figure below the 200k mark of only 185k versus 209k previous reading.

Previous GBPUSD Weekly Forex Forecast

GBPUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

The post GBPUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

Friday, August 25, 2017

[FOREX TIP] USDCHF Weekly Forex Forecast – 28th Aug to 1st Sept 2017

USDCHF Weekly Forex Forecast – 28th Aug to 1st Sept 2017

Technical Outlook: The USDCHF gave up the gains from 0.9730 and pushed lower to test the previous support at 0.9564. Price action suggests that the inverse head and shoulders pattern is still in play. However, price action at 0.9564 will be crucial. A reversal off this level is required for USDCHF to post a reversal. A retest of the inverse head and shoulders neckline resistance needs to be cleared for further gains towards 0.9861. In the event that USDCHF breaks below 0.9564, then the inverse head and shoulders pattern could be invalidated with the next support coming in at the July lows of 0.9454.

Fundamental Outlook: Switzerland’s economic calendar this week will focus on the retail sales and manufacturing PMI numbers which are unlikely to move the market much. Amid a rather quiet trading week, the Swiss franc will be looking to clues from the U.S. dollar which is heading into a rather busy week. In the U.S. important economic releases this week include the second GDP estimates for the second quarter, while on Friday the payrolls report will keep the markets on the edge.

Previous USDCHF Weekly Forex Forecast

USDCHF Weekly Forex Forecast – 28th Aug to 1st Sept 2017

The post USDCHF Weekly Forex Forecast – 28th Aug to 1st Sept 2017 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] USDJPY Weekly Forex Forecast – 28th Aug to 1st Sept 2017

 

USDJPY Weekly Forex Forecast – 28th Aug to 1st Sept 2017

Technical Outlook: The USDJPY continued to maintain its range bound price action between 109.70 and 109.07. However, there is a potential for the U.S. dollar to break this range. The bias is balanced at the moment and a breakout or a breakdown from the range could establish the near term direction in the currency pair. To the upside, USDJPY will need to break out convincingly in order for price to retest the resistance level at 110.80. To the downside, below 109.07, USDJPY could be seen pushing lower towards 108 levels. The trend lines are likely to serve as dynamic support and resistance levels as a result.

Fundamental Outlook: Data from Japan next week will see the BoJ’s core CPI coming up. No major changes are expected as Japan continues to struggle to revive inflation. Industrial production numbers will be due later in the week while the final manufacturing PMI for August will be coming up on Friday. Manufacturing sector in Japan has been steadily declining for the past three months. However, it has held steady above the 50 handle which suggests continued growth in the sector. Wrapping up the week, household spending and unemployment rate numbers will be released as well marking a rather busy week for the yen.

Previous USDJPY Weekly Forex Forecast

USDJPY Weekly Forex Forecast – 28th Aug to 1st Sept 2017

The post USDJPY Weekly Forex Forecast – 28th Aug to 1st Sept 2017 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] EURUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

EURUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

Technical Outlook: The EURUSD posted strong gains on Friday with the volatility coming on the back of the Jackson Hole Symposium. With Janet Yellen not addressing monetary policy, the U.S. dollar fell sharply. EURUSD broke to the upside breaking out from the range of 1.1825 to rise to highs of 1.1941 by Friday’s close. Further gains can be seen coming with EURUSD likely to test 1.2000 level. There is also a gap at this level that is likely to be filled. In the near term any dips in the euro will make for a good buying opportunity. A retest to the breakout level at 1.1825 remains the most likely price level in EURUSD.

Fundamental Outlook: Economic data from the Eurozone goes into full steam with Friday marking a new trading month. Focus will be on the retail sales and CPI numbers out of Germany which will be key for the markets, especially as the Euro heads into an election month in Germany. France is also expected to come out with the preliminary GDP estimates. Meanwhile, the Eurozone’s flash estimates for August will be coming up and data suggests that inflation remained broadly stable. This could potentially confirm the view that the ECB will need to look at tightening monetary policy in the near term. This was also seen by the fact that last week’s flash manufacturing and services PMI suggested a build up of price pressures.

Previous EURUSD Weekly Forex Forecast

EURUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

The post EURUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] Monthly Forex News Events that Might Affect EURUSD Volatility – Sept 2017

The EURUSD has continued to reach fresh new highs for the year, breaching above 1.1900 a level not seen since April 2015. The main driver behind the EURUSD rally is the Fed as they have indicated current economic conditions are supporting another rate hike. So, in essence, this move is not about euro strength, but more about dollar weakness. The ECB is also expected to take a decision on the future of its QE bond buying program. So, there has been speculation that Mario Draghi will announce this autumn to unwind the 2.3 trillion euro bond buying program.

Monthly Forex News Events that Might Affect EURUSD Volatility – Sept 2017

The market focus is now shifting to a new month – September which can provide us with plenty of fundamental drivers that can impact the market volatility and the EURUSD exchange rate. The month of September is set to be a very active month if the current level of volatility will persist, and we can expect even more volatility as now the summer is over and many traders return back to their desks. The curious thing is that September seasonal pattern sees the US dollar falling even further so we don’t have reason to expect the current rally to end anytime soon unless a full-scale risk aversion kicks in, which will be bearish for EURUSD exchange rate. The German election will almost certainly add more spice to the month. So watch out!

The seasonal pattern only gives us the tendency of a particular currency to exhibit a certain behavior at a certain time, so we have to carefully monitor the pattern and how the fundamental forces interact with the price action. Going forward, we’re going to analyze and disseminate the major news event for the upcoming month that can be the catalyst for higher EURUSD volatility.

“Don’t risk significant money in front of key reports, since that is gambling not trading.” Paul Tudor Jones

Monthly Forex News Events that Might Affect EURUSD Volatility – Sept  2017

 

EURUSD Risk Events

In September we have two main risk events. Firstly, we have the Fed interest rate decision which probably is the last chance for the Fed to signal its intention to stay on track for one more rate hike or to adopt a dovish stance. Secondly, we have the ECB, which can give us some hints on its monetary policy and the QE program. With inflation picking up and the EUR/USD exchange rate moving higher there are high chances the ECB president Mario Draghi to give hints in regard to the start of the tapering process.

  • Friday, September 1, 2017 – First day of the new month will bring the NFP job report, which can be the catalyst for some trend development. We already had two consecutive readings above 200k, but we really need a good number to suggest the Fed will follow through with another rate hike. The unemployment rate is also at 4.3%, a level not seen since before the 2007 crisis.
  • Tuesday, September 5, 2017 – The EU GDP figures will us more insights into the health of the EU economy. The EU economy expanded by 0.6 in the second quarter and currently stands at 2.2% having one of the fastest growth rates among developed economies.
  • Thursday, September 7, 2017 – The ECB rate decision is probably going to set the tone for the EUR/USD exchange rate for the rest of the month. Most Wall Street economists believe the ECB is more likely to give some hints about the future of its QE program.
  • Wednesday, September 13, 2017 – The US PPI figure is another risk event we need to keep an eye on. The PPI figure is Fed’s preferred measurement of inflation. After hitting a high of 2.5% in May inflation has dropped since then significantly to 1.9% below the 2% Fed inflation target.
  • Friday, September 15, 2017 – The US Retail Sales recorded their biggest gain in July, hitting a 7-month high. The growth in consumer spending should be reflected also in the GDP reading for the second quarter, which is expected to be revised higher.
  • Wednesday, September 20, 2017 – The Fed interest rate decision is the most anticipated risk event of the month. Even though the Fed is expected to keep rates unchanged what counts the most is Fed’s rhetoric and whether or not it will leave the door opens for another rate hike this year.
  • Sunday, September 24, 2017 – German federal elections are another risk event that we need to keep an eye on. Recent polls show Angel Merkel holding power and winning a comfortable majority against her rival Martin Schulz.
  • Thursday, September 28, 2017 – The US GDP figures is the last risk event for the month. The US economy grew at an annual rate of 2.6% and recent economic data are supportive for a better GDP reading and possibly a revision higher of the 1.4% growth rate in the second quarter.

The post Monthly Forex News Events that Might Affect EURUSD Volatility – Sept 2017 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

CryptoCurrency: Ethereum News August 26, 2017 at 09:41AM #ETH

#Vietnam to create legal framework for digital assets https://t.co/QDrB5rjl1d #Cryptocurrency

[MORE]

CryptoCurrency News: Bitcoin Prices Rise But Fall Short of All-Time High

The price of bitcoin surged today, but it ultimately fell away from all-time highs first set earlier this month.

via CoinDesk

CryptoCurrency News: Bitcoin Exchange BTC-e Promises 'Daily' Updates During Relaunch Attempt

BTC-e says it will publish more frequent updates about its recovery plans after August 31, according to a newly released statement.

via CoinDesk

CryptoCurrency: Ethereum News August 26, 2017 at 12:31AM #ETH

Mark Cuban-backed team unveils @MercuryProtocol on #Ethereum https://t.co/83UDmscGYK @mcuban

[MORE]

CryptoCurrency News: Ethereum's 'Metropolis' Upgrade Could Still Be Months Away

Ethereum's 'Metropolis' upgrade is still being developed, though the project's core developers have set a testing schedule for the fall.

via CoinDesk

CryptoCurrency News: China's New Fundraising Rules Could Lead to ICO Investigations

The executive branch of China's government has released new rules on fundraising that could lead to closer oversight of initial coin offerings.

via CoinDesk

[FOREX NEWS] Yellen sends the dollar tumbling down

What had markets expected? In any case, Yellen did not provide any surprises. And this was enough to send the US dollar tumbling down. The Chair of the Fed discussed changes to financial regulations and said they should be modest. This is not market-related. Will she say something else during the weekend-long retreat at Jackson [...]

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CryptoCurrency News: Vietnam Is Preparing to Legally Recognize Bitcoin in 2018

Vietnam's prime minister has approved a plan that could see the country formally recognize bitcoin as a form of payment, reports say.

via CoinDesk

CryptoCurrency News: Insightful ICO? Telecom Giant Telenor Wants to Disrupt Media with Tokens

Telecoms giant Telenor is working with its distribution partner, Hubii, to explore how ICOs could disrupt the media business model.

via CoinDesk

CryptoCurrency News: Are Failing Currencies Boosting Crypto Interest? Investing.com Suggests Yes

A new study by Investing.com would seem to support a popular investment theory supporting the cryptocurrency asset class.

via CoinDesk

CryptoCurrency News: Bitcoin Prices Bounce Back Above $4,400

Bitcoin prices have once more climbed past $4,400 following days of generally sideways movement below $4,200.

via CoinDesk

CryptoCurrency News: Bitcoin's Lightning Network Moves Closer to Compatibility Standard

Version 1.0 of a standard that could help connect all of bitcoin's differing Lightning tech implementations is reportedly close to being complete.

via CoinDesk

CryptoCurrency News: Bank of America's Blockchain IP Bid Grows With 9 More Patent Applications

Nine more blockchain-related patent applications filed by Bank of America have been made public, a number that brings the bank's total to at least 30.

via CoinDesk

[FOREX NEWS] German IFO Business Climate beats with 115.9 – EUR/USD rises

Business confidence remains elevated in Germany. IFO’s business climate makes a very minor slide from 116 to 115.9, better than 115.5 predicted. Business expectations advanced from 107.3 to 107.9, defying projections for a fall. The Current Assessment measure dropped from 125.5 to 124.6. EUR/USD is moving up a few pips, erasing the previous slides. The [...]

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CryptoCurrency News: Global Tourism Giant TUI Pursues Broad Blockchain Adoption

The tourism and travel giant is using blockchain to track internal contracts, and is striking a bullish note on the tech's prospects in the industry.

via CoinDesk

Thursday, August 24, 2017

CryptoCurrency: Ethereum News August 25, 2017 at 08:10AM #ETH

The Canadian Securities Administrators Weighs In On #Cryptocurrencies And #Securities Laws https://t.co/BBpfEUWMDN #Canada

[MORE]

CryptoCurrency: Ethereum News August 25, 2017 at 07:39AM #ETH

Doc.ai's #Ethereum Blockchain-Based Medical Solutions Bring #ArtificialIntelligence To Healthcare https://t.co/DKDQ5MuHmz @_doc_ai

[MORE]

CryptoCurrency: Ethereum News August 25, 2017 at 07:03AM #ETH

Six US Government Agencies Hire Investigative #Blockchain Firm @chainalysis https://t.co/8rkFak4IEp #bitcoin

[MORE]

CryptoCurrency: Ethereum News August 25, 2017 at 06:42AM #ETH

Six US Government Agencies Hire Investigative #Blockchain Firm @chainalysishttp://ow.ly/C2T130eF5LQ #bitcoin

[MORE]

CryptoCurrency News: Bernanke, Berners-Lee to Headline Ripple's 'Sibos-Killer' Conference

Distributed ledger startup Ripple is ramping up its competition with banking services provider Swift by launching a rival conference this fall.

via CoinDesk

CryptoCurrency: Ethereum News August 25, 2017 at 02:41AM #ETH

Swiss Economics Minister Visits #Zug Valley To Learn About #Blockchain Technology https://t.co/Vsq8abqhhc #CryptoValley @thecryptovalley

[MORE]

CryptoCurrency News: Russian Deputy PM Says He Supports a State-Backed Cryptocurrency

The first deputy prime minister of Russia is in favor of a state-backed cryptocurrency, according to a recent interview.

via CoinDesk

CryptoCurrency News: Bitcoin Cash Returns to Profitability Amid Mining Adjustments

Bitcoin and bitcoin cash continue to compete for miner support in what has become an evolving ballet between the two blockchains.

via CoinDesk

CryptoCurrency News: Canadian Regulators: 'Many' ICO Tokens Meet Securities Definition

Securities regulators in Canada have released a wide-ranging statement on initial coin offerings or ICOs. The staff notice on "Cryptocurrency Offerings" from the Canada Securities Administrators (CSA) – an umbrella group composed of the country's regional and local securities watchdogs – provides the clearest indication yet as to how regulatory bodies plan to oversee the emerging funding […]

via CoinDesk

CryptoCurrency News: SEC Suspends Trading of Publicly Listed Bitcoin Firm

Trading of First Bitcoin Capital Corp's shares has been suspended by the SEC.

via CoinDesk

[FOREX NEWS] US existing home sales miss with 5.44 million – USD ticks down

A small miss: 5.44 million against 5.57, a drop of 1.3% instead of an expected rise. The data is not shocking, but enough to push the greenback a few pips lower. A significant follow-through seems unlikely. Markets are taking it easy, waiting for the bigger event which is the Jackson Hole Symposium at Wyoming. Sales [...]

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CryptoCurrency News: ETF Firm REX Seeks SEC Approval for Bitcoin Derivatives Fund

A new fund focused on bitcoin derivatives has been created, SEC filings reveal.

via CoinDesk

CryptoCurrency News: Manufacturing Giant Midea Wants to Put Bitcoin Miners in Household Appliances

Chinese manufacturer Midea Group is trying to patent a way to build bitcoin mining chips into everyday household items, according to public records.

via CoinDesk

CryptoCurrency News: Drivechain Developers Hold First Meeting on Future of Sidechains Project

The developers behind a sidechain project that has the potential to boost bitcoin's functionality just held their first major meeting.

via CoinDesk

CryptoCurrency News: No SegWit Bump? Bitcoin Price Shrugs Off Tech Upgrade with Sideways Trading

Bitcoin prices were largely flat on the day's trading, suggesting bitcoin's biggest-ever technical change was already priced in.

via CoinDesk

CryptoCurrency News: Finnish Police Launch OneCoin Investigation Amid Global Crackdown

Finnish police have become the latest international law enforcement agency to take a growing interest in the OneCoin digital currency scheme.

via CoinDesk

CryptoCurrency News: Segwit2x Developers Label Controversial Bitcoin Code 'Production Release'

The controversial code underlying bitcoin scaling proposal Segwit2x is moving toward production, according to project leaders.

via CoinDesk

[FOREX NEWS] UK revised GDP Q2 confirmed at 0.3% q/q, 1.7% y/y – GBP/USD retreats

The second estimate of UK GDP was expected to confirm the initial read of 0.3% q/q and 1.7% y/y. The level of investment was expected to rise by 0.2% and services by 0.5%. GBP/USD was bouncing from the lows, moving above 1.28 ahead of the publication. But in general, Sterling is weak. EUR/GBP is trading [...]

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[FOREX NEWS] EUR/GBP at 8 year highs – levels to watch

EUR/GBP is trading around the highest levels since 2009, in the immediate aftermath of the financial crisis. The cross reflects the weakness of the pound in light of Brexit uncertainty and the resilience of the euro ahead of Draghi’s expected pre-announcement of QE tapering. 0.9237 has been the highest level seen so far in 2017. [...]

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CryptoCurrency News: Standpoint Founder: Bitcoin Asset Class Will Grow Into $2 Trillion Market

Ronnie Moas, founder of Wall St. firm Standpoint Research, has high expectations for the cryptocurrency market – and isn't shy about his predictions.

via CoinDesk

Wednesday, August 23, 2017

CryptoCurrency: Ethereum News August 24, 2017 at 10:15AM #ETH

#Ethereum Foundation Recommends Against EME Measures https://t.co/QkZhSHGqQQ @ethereumproject @w3c

[MORE]

CryptoCurrency: Ethereum News August 24, 2017 at 08:04AM #ETH

Extensive IRS-Chainalysis Partnership Further Revealed - $124k one-year deal begins Sept 7th https://t.co/nXlXW4Ed72 #Chainalysis #bitcoin

[MORE]

CryptoCurrency: Ethereum News August 24, 2017 at 07:10AM #ETH

US General Services Administration To Host Open Data & Accountable Government Event https://t.co/Eey0EIHCCJ @USGSA #OpenGovernment

[MORE]

CryptoCurrency News: Floyd Mayweather Just Promoted His Second ICO on Twitter

Floyd Mayweather, Jr., just promoted another ICO.

via CoinDesk

CryptoCurrency: Ethereum News August 24, 2017 at 06:30AM #ETH

.@FitchRatings Acknowledges #Blockchain Technology Could Disrupt @StateStreet's Business https://t.co/szy1EMt0nY

[MORE]

CryptoCurrency: Ethereum News August 24, 2017 at 05:59AM #ETH

Congressional Candidate @PatFNelson Accepts Campaign Contributions In #Cryptocurrency https://t.co/ZT6Oq0A6VW @BitPay

[MORE]

CryptoCurrency News: John McAfee Raises $2.4 Million to Expand Bitcoin Mining Operation

Cybersecurity entrepreneur John McAfee's company just raised $2.4 million to help build a new bitcoin mine.

via CoinDesk

CryptoCurrency News: 50 Blocks to SegWit: Bitcoin's Coming Upgrade Is a Blockchain Game-Changer

SegWit will finally activate on bitcoin today after years of debate. But, what exactly is the code change and what does it enable?

via CoinDesk

CryptoCurrency News: China's Fosun Group Buys Stake in Blockchain Startup

Chinese conglomerate Fosun Group has invested in Shanghai blockchain startup Onchain.

via CoinDesk

CryptoCurrency News: Chasing Profit? Bitcoin Cash Miners Swap Networks As Difficulty Swings

A change to the bitcoin cash blockchain has provided further clues as the evolving relationship between the two competing blockchains.

via CoinDesk

CryptoCurrency News: Congressional Candidate Now Accepting Bitcoin Donations for 2018 Election

A candidate for the US Congress in upstate New York has begun accepting donations in bitcoin.

via CoinDesk

[FOREX NEWS] US new home sales miss with 571K – USD slips

US new home sales fell short of expectations falling by 9.4% to 571K. However, the fall is from 630K in June, an upwards revision from the original release. The fall in July is attributed to supply rather than demand. Nevertheless, the US dollar is falling across the board. Perhaps the publication serves as an excuse [...]

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CryptoCurrency News: Bitcoin Prices Are Up Over $100 Already Today

The average price of bitcoin across global exchanges in trending up, having already climbed almost $130 during today's trading.

via CoinDesk

CryptoCurrency News: How-To Website WikiHow Partners With Blockchain Startup Civic

Popular how-to website wikiHow is partnering with blockchain startup Civic to boost the security of its login process.

via CoinDesk

CryptoCurrency News: 1,000 Universities: IBM's Ambitious Plan to Fill Vacant Blockchain Jobs

IBM has launched an educational initiative, partnering with 1,000 universities in an effort to fill the many industry positions currently vacant.

via CoinDesk

CryptoCurrency News: $150 Billion: Total Cryptocurrency Market Cap Hits New All-Time High

The combined value of all publicly traded cryptocurrencies has set a new record, surpassing $150 billion for the first time today.

via CoinDesk

CryptoCurrency News: Silicon Blockchain: Intel's Distributed Ledger Strategy Is All About Hardware

Upending the narrative that software is key in the blockchain space, Intel details its years-long effort to link distributed ledgers to hardware.

via CoinDesk

CryptoCurrency News: Brazil's Ministry of Planning Is Testing Blockchain Identity Tech

A government agency in Brazil is investigating how it could leverage blockchain technology to verify the legitimacy of ID documents.

via CoinDesk

CryptoCurrency News: South Africa's Central Bank: It's 'Too Risky' to Launch a Cryptocurrency

A senior official for the South African Reserve Bank has spoken of the risks for the institution in launching its own cryptocurrency.

via CoinDesk

CryptoCurrency News: Lightning's Tadge Dryja is Working On a Bitcoin Cash 'Splitter'

Lightning Network creator Tadge Dryja is developing a tool to help bitcoin users safely claim their newly created bitcoin cash.

via CoinDesk

[FOREX NEWS] German PMIs beat expectations – EUR/USD advances

Germany’s manufacturing sector is firing on all engines, at least according to the manufacturing PMI. It jumped to 59.4 points, much better than projected. The services PMI also came out above expectations, but only just: 53.4 points. EUR/USD is moving up, trading at 1.1770 after reaching a high of 1.1777. The pair trades in a [...]

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[FOREX NEWS] USD/JPY rejected at resistance on Trump being Trump

Calm summer markets and a “presidential” statement from Trump on Afghanistan allowed USD/JPY to rise. Without any issues, there is less demand for the safe-haven yen. This was enough to send USD/JPY from the lows of 108.60 to 109.80. And then Trump returned to his own self. In a campaign-style speech in Phoenix, the President [...]

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Tuesday, August 22, 2017

CryptoCurrency: Ethereum News August 23, 2017 at 07:55AM #ETH

1confirmation Crypto Venture Capital Fund Seeks $20 Million https://t.co/PuIESZqrBm

[MORE]

CryptoCurrency: Ethereum News August 23, 2017 at 07:16AM #ETH

#Estonia Explores National #DigitalCurrency With Token Offering Proposal https://t.co/nimml91uus

[MORE]

CryptoCurrency: Ethereum News August 23, 2017 at 06:30AM #ETH

.@TminingBC Joins Forces With @NxtPortNews To Track Shipping Containers Using #Blockchain https://t.co/Tkoa88bBQx

[MORE]

CryptoCurrency News: Exchange Strains Drive Kraken to Cut Crypto Trading Pairs

Kraken is making some platform changes in a bid to reduce the strain on its cryptocurrency exchange.

via CoinDesk

CryptoCurrency: Ethereum News August 23, 2017 at 04:11AM #ETH

Brazil’s Ministry Of Planning Reveals #Ethereum-Based Proof Of Concept For Verifying Identity https://t.co/msiu1DjrGT @uport_me

[MORE]

CryptoCurrency: Ethereum News August 23, 2017 at 03:25AM #ETH

.@Hyperledger Announces Sawtooth #Ethereum, A Proof Of Concept Integration https://t.co/iyIUlLaLdy #seth

[MORE]

CryptoCurrency News: Hyperledger Blockchain Consortium Reveals 'Sawtooth Ethereum' Tech

In collaboration with Monax, Intel released Sawtooth Ethereum to allow ethereum smart contracts to be deployed on enterprise-grade Sawtooth platform.

via CoinDesk

CryptoCurrency News: Ripple's XRP Price Climbs 40% on Surge in Korean Trading

XRP's price is up more than 40% in the past day, market data shows.

via CoinDesk

CryptoCurrency News: Congressional Group Pushes for Blockchain Security Standards

Congressional advocates for blockchain are said to be working on new security standards for the tech.

via CoinDesk

CryptoCurrency News: The IRS Has Been Using Bitcoin Tracking Software Since 2015

The IRS has been using blockchain tracking tools developed by Chainalysis since 2015, public records reveal.

via CoinDesk

CryptoCurrency News: The Newest Version of the Opendime Bitcoin Wallet Is Out

Coinkite is soon to launch the third iteration of its Opendime bitcoin hardware wallet, the startup announced today.

via CoinDesk

CryptoCurrency News: Blockchain ID Startup ShoCard Raises $4 Million in New Funding

ShoCard has announced a new venture funding round, news that coincides with its launch of a new enterprise-focused identity product.

via CoinDesk

CryptoCurrency News: Boldstart Founder Launches Hyperledger Fabric's First Blockchain Accelerator

The enterprise-facing Hyperledger Fabric blockchain now has its own accelerator, one backed by a notable venture investor.

via CoinDesk

CryptoCurrency News: Walmart, Kroger & Nestle Team with IBM Blockchain to Fight Food Poisoning

A new consortium being spearheaded by IBM is seeking to use blockchain to improve global food safety – and cut costs for suppliers.

via CoinDesk

CryptoCurrency News: Mark Cuban Backs Former Coinbase Employee's $20 Million Token Fund

Investor Mark Cuban is backing a new token fund that's seeking to raise up to $20 million from institutional investors.

via CoinDesk

[FOREX NEWS] GBP/USD is trading at the lowest since June

The pound was one of the weaker currencies in recent weeks and when the opportunity comes, it falls over. This opportunity is the stronger dollar. The wind is now sailing in favor of the greenback. For the euro, this means a swing lower within the range. For the pound, it means dropping to lower ground. [...]

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CryptoCurrency News: Asus Debuts Specialized Motherboard for Cryptocurrency Miners

Asus is to release a new product aimed at cryptocurrency miners – a motherboard that can be packed with 19 GPUs.

via CoinDesk

CryptoCurrency News: Bitcoin's Battle Over Segwit2x Has Begun

"Download BTC1," that's all the message said. Part of a statement in a larger BitPay blog post last week, the words were meant to urge the bitcoin processor's users to upgrade their software ahead of a scheduled code upgrade. It's safe to say, however, that it didn't have the intended effect. While the point of contention was […]

via CoinDesk

[FOREX NEWS] German ZEW Economic Sentiment misses with 10 points – EUR/USD pressured

The ZEW economic sentiment falls short of expectations with a score of 10 points. The current conditions component stands at 86.7, slightly better than expected, but the economic sentiment seems to have the upper hand. EUR/USD slips under 1.1770, a small drop from the levels seen just before the release. Germany’s ZEW think-tank was expected [...]

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[FOREX NEWS] EUR/USD – is 1.20 coming soon? Two opinions

EUR/USD holds onto its range quite nicely. What’s next? Here are two opinions: Here is their view, courtesy of eFXnews: EUR/USD: Neutral Here; Stabilizing Before Attempting To Breach 1.2000-Level – BTMU BTMU FX Strategy Research thinks that EUR/USD is stabilizing around current levels before it attempted to breach the 1.2000-level. “The pair appears to be driven [...]

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Monday, August 21, 2017

CryptoCurrency News: Bitcoin Prices Dip Below $4,000 to Hit 7-Day Low

The bitcoin price is back below $4,000, falling below a notable milestone that some may now be beginning to view as the peak of its rally.

via CoinDesk

CryptoCurrency: Ethereum News August 22, 2017 at 06:42AM #ETH

Philippines Central Bank Approves Licenses For Two #Cryptocurrency Exchanges https://t.co/kgLw4OTiHt #bitcoin

[MORE]

CryptoCurrency News: $10.4 Million: In-Game Item Exchange DMarket Raises New Funds in ICO

Virtual goods marketplace DMarket has raised more than $10 million in an ICO.

via CoinDesk

CryptoCurrency: Ethereum News August 22, 2017 at 04:52AM #ETH

.@EnigmaMPC Token Offering Eclipsed By Hacking Incident https://t.co/ER4elo7qBk

[MORE]

CryptoCurrency: Ethereum News August 22, 2017 at 04:25AM #ETH

.@SurBTC To Open Peruvian Market to #Ether Trades https://t.co/By8dU90wMZ #cryptocurrency

[MORE]

CryptoCurrency: Ethereum News August 22, 2017 at 03:50AM #ETH

2FA Confusion Amid Alleged Breach Of @BITMAINtech Customer Data https://t.co/lzzQo8xXh8

[MORE]

CryptoCurrency News: Bitcoin Cash Wins Mining Power as Price Falls Back Below $600

Bitcoin Cash just reached a difficulty adjustment

via CoinDesk

CryptoCurrency News: Take Two: Bitcoin Miner BTCS Announces New Merger Deal

The publicly traded bitcoin miner BTCS is moving toward a new merger, public records reveal.

via CoinDesk

CryptoCurrency News: ICO Scammers Steal $500k in Phony Enigma Project Pre-Sale Launch

As much as $500,000 in ether has been stolen from supporters of the Enigma blockchain project following a security compromise.

via CoinDesk

CryptoCurrency News: Credit Suisse Eyes 2018 Launch for Blockchain Loans Platform

A group of banks led by Credit Suisse is eyeing the launch of a commercial platform for blockchain-based syndicated loans, according to reports.

via CoinDesk

CryptoCurrency News: A Bitcoin Law for Every State? Appetite and Animosity Greet Model US Regulation

A bill for unifying state legislators around virtual currency business rules is seeing both interest and hostility, each from unexpected parties.

via CoinDesk

CryptoCurrency News: Swift's Cross-Border Blockchain Trial Is Moving to Its Next Phase

Swift has completed development work on its first blockchain proof-of-concept, and six global banks are about to put it through its paces.

via CoinDesk

CryptoCurrency News: Monero Price Hits Record High Near $100 on New Exchange Listing

The price of monero, the privacy-oriented cryptocurrency created in 2014, shot up sharply this morning, shattering its previous record by around $35.

via CoinDesk

[FOREX NEWS] ECB meeting minutes surprisingly hawkish

The European Central Bank (ECB) released its monetary policy meeting from the July 19 – 20 central bank meeting. The ECB left monetary policy and its bond purchase program at the July meeting. While the ECB did not change its language on forward guidance, the meeting minutes showed that members deliberated on some points. The [...]

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[FOREX NEWS] Forex Technical Analysis Cheat Sheet – Part 1

A Guide on How to Read Forex Charts The method of predicting price changes in any forex currency pair is both a science and a skill. The process itself is scientific: utilising existing data and analysing information and results. However, the way these results are applied to a trade is based on the judgement of [...]

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CryptoCurrency News: Credit Card Giant Visa Hints at Digital Asset Service Plans

Payments multinational Visa may be looking to blockchain as a way to facilitate the transfer of digitized assets, according to a patent filing.

via CoinDesk

CryptoCurrency News: Philippines Central Bank Grants First Cryptocurrency Exchange Licenses

The central bank of the Philippines has granted licenses to two local bitcoin exchanges, according to local reports.

via CoinDesk

CryptoCurrency News: Hints and Rumors? How Ripple Might Really Enter China

While Ripple has denied any short-term partnerships with Alibaba – a deal between the two firms could be in both companies' best interests.

via CoinDesk

[FOREX NEWS] Room For A Pause In USD Weakness Into Year-End – CIBC

The US dollar found its footing, stabilizing after long weeks of losses. What’s next? The team at CIBC already looks into the end of the year. Here is their view, courtesy of eFXnews: CIBC FX Strategy Research notes that policymakers in the US have appeared reasonably comfortable that inflation will start to heat up again. [...]

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Sunday, August 20, 2017

[FOREX TIP] What is a Trend Line?

Trend lines are probably the most simplest of all methods when it comes to trading with price action. A trend line simply shows you what the current trend is. Depending on the time frame that you choose, the trend lines can differ. There are just two types of trend lines. A falling trend line which depicts the downtrend or the bear market and a rising trend line which depicts the rising trend line in an uptrend or in a bull market.

It is important to note that trend lines can change depending on the chart time frame. For example, if the trend on an intraday chart is down, you would most likely be plotting a falling trend. However, if you switch to a higher time frame and depending on the bigger trend, you could plot a rising or even a falling trend line. This can get a bit confusing especially if you are new to trading; having said that, trend lines are simple and easy to understand.The biggest advantage of using a trend line is that you can combine it with price action methods, or you can use the trend lines in conjunction with technical indicators as well.

In this article, we explore in detail about trend lines and how to draw a trend line. There are many technical indicators that claim to plot a trend line automatically. While it might seem easy to use these automated trend line drawing indicators, nothing beats the fact that drawing trend lines by hand is a better approach. It is also important to understand that the concept of trend lines can change based on one perception to another. Thus, there is some objectivity involved. But do not get too bogged down by these minor details as the larger concept (the trend) is still relevant.

What is the Purpose of Drawing a Trend Line?

The purpose of drawing a trendline is to ascertain whether the current will continue in the same direction or if the trend can change. Most traders make the mistake that a broken trend line means a change of trend. This is partially true. But, the important point to note here is that a broken trend line could simply mean a deeper retracement or a pullback to the trend, or it could indeed signal a change of trend.

This is where trend lines can help. By understanding trends, you can easily take the help of trend lines and figure out what prices are doing. Trend lines can be traded in two ways. You can either trade the break of a trend line, or you could wait for the retracement to be completed and enter in the direction of a trend.

Thus, trend lines can help you to either trade in the direction of a trend, or trade a counter-trend move or a retracement. The key point to success with trend line trading is in knowing how to plot the trend line.

The Importance of a Trend line

Trend lines are important as it can give you the larger context of the market. To put it in simple terms, trend lines can tell you whether the current trend has ended. Then, you can look at the larger view and understand if this change of trend is temporary or if a new trend has been established. This knowledge comes from firstly understanding what trend trading is. You can refer to this article to get to know all about trend trading. Then, you can apply that knowledge to the concept of trend line trading to better your odds of making more successful trades.

A trend line is typically at an angle of 45 degrees. But in reality this is not always the case. Similarly, some believe that trend lines should have at least three contact points. But again this is a text book example and real life trading seldom aligns itself to the best examples. Therefore experience and practice will be your best guide in plotting trend lines.

How to Draw a Trend Line for Uptrend and Downtrend?

Assuming that you have read the previous article about trend trading, we already know that in an uptrend, price makes higher highs and higher lows. Similarly, in a downtrend, price will make lower highs and lower lows.

In an uptrend, you would be focusing on the higher lower. Then, connecting these higher lows you can draw the rising trend line. When this rising trend line is breached, you can expect to see a retracement or a change in trend. In a downtrend, your focus would be on the lower highs. Connecting the subsequent lower highs, you would draw a falling trend line. When this falling trend line is breached, you will then know that prices are changing the trend or simply making a retracement.

In figure 1, we have a rising trend line example. The higher lows highlighted are the levels that we use to connect. Here, we make use of two higher lows to plot the trend line. This becomes our reference for the uptrend. When price breaks this rising trend line, we can know that the trend is changing. Traders typically look for the break of the trend line and use the opportunity to trade the short term retracement or a trend change.

Figure 1: Plotting a rising trend line

In a downtrend, you would use the lower highs to plot the falling trend line. When this falling trend line is broken, you can then expect to see a short term reversal, thus going long on the market. The next chart in Figure 2 illustrates a falling trend line.

Figure 2: Plotting a falling trend line

In the above example, you can see the falling trend line forming after the two lower highs are used as the reference point. Once the falling trend line is breached you can see how quickly price changes the trend, rising rapidly. The most important part about trend line trading is the break out of the trend line itself. This will give lot of trading opportunities. Day traders use the trend line break out method in order to enter the direction of the break out which will give some quick profits.

Trading the Rising and Falling Trend Line Breakout

The most common way to trade the rising trend line is to wait for price to break this trend line. When this occurs, traders sell into the breakout level and set the initial target to the most nearest higher low (which is the second higher low in the above example). The stop loss in this case is placed at the recent higher high that formed just before the trend line breakout. As you can see in the above example, the stops would be placed at the recent highest high that was formed prior to the breakout of the rising trend line.

With a falling trend line, you would be buying the break out of the trend line. When a falling trend line is breached, price moves in the opposite direction, thus warranting a long position. Similar to a rising trend line, your entry would be at the breakout of the trend line. Stops would be placed at the recent lows while the initial target would be the immediate lower high that was used for plotting the falling trend line.

Why Trade with trend lines?

Trend line trading can be very beneficial but comes at the cost of getting familiar with this method of trading. Trend line trading can be combined with other technical indicators such as moving averages in order to confirm the change of trend. With trend lines, you can easily  trade with the trend and be alerted as to a possible change of trend whenever there is a break to the trend line. There are many trading opportunities that can be created with trend lines. While it might seem a bit subjective, with enough practice traders can trade the trend lines with confidence.

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[FOREX TIP] Weekly Forex News Events for EURUSD – 21st to 25th August 2017

Weekly Forex News Events for EURUSD – 3rd to 7th July 2017

EURUSD finished the last week’s candle as a bearish candle but with some rejection from the South. Since the overall trend is with bull, so the pair might attract the buyers to buy the pair next week. Some high impact news events might create volatility on EURUSD next week. Let us have a look at the schedule of those.

Wednesday-23rd August- GMT 07.00

ECB president Draghi speaks

This is one high impact news event for the pair. However, the event is going to take place bit earlier than its usual timing. Thus, the pair might not get as volatile as it normally gets. Nonetheless, traders should be careful about taking entries just before this news event. Some good trading opportunities might come out after the news event.

Wednesday-23rd August- GMT 14.30

Crude oil inventories

This could be very volatile too. Traders had better keep an eye on this and look for the trading opportunities after the news event.

Thursday – 24th August- GMT 12.30

Unemployment claims

Another huge news event for the pair, which usually makes the pair move abruptly. The news event can be very fruitful for the traders if it is dealt accordingly.

Friday – 25th August- GMT 12.30

Core durable Goods orders m/m

This news event gets very volatile in some weeks since it is the last high impact news event of a week related to the USD. It does not offer that many opportunities either. It ends up producing long spikes on the intraday charts. Thus, traders should be very careful to deal with this.

 

 

 

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CryptoCurrency News: Bitcoin Trading Sideways as Bitcoin Cash Drops to $800

Following recent highs for both assets, bitcoin has been trading sideways for the last 48 hours, while bitcoin cash has settled around $800.

via CoinDesk

CryptoCurrency: Ethereum News August 20, 2017 at 07:00PM #ETH

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Saturday, August 19, 2017

[FOREX TIP] USDCAD Weekly Forex Forecast – 21st to 25th Aug 2017

USDCAD Weekly Forex Forecast – 21st to 25th Aug 2017

After a deep retracement the USDCAD is now resuming the big picture downtrend. However, as long as we’re trading above the big psychological number 1.2500 there is a risk for the current retracement to have another attempt to retest last week high 1.2870. A break and a daily close above last week’s high will expose 1.2850 next key resistance levels. On the downside a break below 1.2500 will open the door for a retest of the 1.2410 support level. The stochastic indicator is already in oversold territory and we might have to wait before any real bearish momentum to be seen.

The Canadian economic calendar doesn’t have much to offer in terms of risk events other than the Retail Sales scheduled on Tuesday. However, we have the US Durable Goods Orders on Friday which can act as a proxy-risk event for the US dollar. The BOC Governor Poloz is also expected to attend the Jackson Hole Symposium and his comments will for sure give more clarity to the USD/CAD exchange rate.

Previous USDCAD Weekly Forex Forecast

USDCAD Weekly Forex Forecast – 21st to 25th Aug 2017

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[FOREX TIP] AUDUSD Weekly Forex Forecast – 21st to 25th Aug 2017

AUDUSD Weekly Forex Forecast – 21st to 25th Aug 2017

The AUDUSD continues to trade in a very precise trading range. The big psychological number 0.8000 is still holding the upside quite well and is acting as the resistance of the trading range. A break above 0.8000 and a daily close will expose the 0.8065 current year’s high and will open up the door for the bullish trend.

The stochastic indicator is not quite yet in overbought territory, so early in the week we can expect a little bit of more upside before finally to retest again the first level of support 0.7875. A break below this will expose the 0.7790 support level. There is no news events scheduled on the Australian economic calendar. However RBA governor Lowe is scheduled to speak at the Jackson Hole Symposium.

Previous AUDUSD Weekly Forex Forecast

AUDUSD Weekly Forex Forecast – 21st to 25th Aug 2017

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