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Saturday, March 31, 2018

[FOREX TIP] USDCHF Monthly Forex Forecast for April 2018

USDCHF Monthly Forex Forecast for April 2018

Technical Outlook: The USDCHF currency pair has been posting a modest rally ever since price action managed to breakout above the 0.9470 – 0.9433 level of resistance. The breakout off this resistance level was met with the doji candlestick followed by a bearish decline on Thursday. In the near term, we expect USDCHF to dip back to the breached level of 0.9470 – 0.9433 to establish support. A reversal off this level could signal further gains targeting 0.9715 – 0.9681. In the event that USDCHF slips belo this support level we can expect to see further declines with price action consolidating within the breached resistance level and the previous lows that were formed.

Fundamental Outlook: The Swiss franc will see a quiet month ahead with no major events scheduled. Following the SNB’s meeting last quarter wherethe 3-month LIBOR rate was left unchanged, most of the flows in USDCHF will be determined by the data from the United States. With no Fed meeting scheduled this month, investors will focus on the advance quarterly GDP report coming out later in April. This could potentially shed light into the state of the U.S. economy during the first three months of the year. The U.S. economy is expected to maintain its upward trend of around 2.5% average quarterly GDP growth and this could build up into the next month’s Fed meeting.

Previous USDCHF Monthly and Weekly Forex Forecast

USDCHF Monthly Forex Forecast for April 2018

The post USDCHF Monthly Forex Forecast for April 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] USDJPY Monthly Forex Forecast for April 2018

USDJPY Monthly Forex Forecast for April 2018

Technical Outlook: The USDJPY was seen initially slipping below the 105.44 – 105.14 level of support but price action quickly recovered from this level following the bullish engulfing pattern that was formed. This was later seen by a stronger bullish candlestick off the support level. The near term consolidation could signal that price action will see some pullback ahead of further gains. A close above the previous high formed at 106.820 level of resistance could signal further gains. Watch for price action to briefly retest the support level where a potential right shoulder could be formed. A reversal off the support could signal minimal gains toward 108.14 level.

Fundamental Outlook: The sentiment in the Japanese yen is most likely to be influenced by the global themes playing out. The Japanese yen continues to remain in favor especially amid rising uncertainty in the global markets. On the economic front, the start of April will see the release of the quarterly Tankan manufacturing survey results. Manufacturing companies have been seen slowly improving their outlook and this could result in a positive beat on the estimates. The Bank of Japan will be holding its monetary policy meeting later in April. The central bank is expected to keep interest rates and its QE program unchanged. However, the recent uptick in consumer prices, albeit still far away from the BOJ’s 2% inflation target rate could keep market speculators bullishly bid on the yen.

Previous USDJPY Monthly and Weekly Forex Forecast

USDJPY Monthly Forex Forecast for April 2018

The post USDJPY Monthly Forex Forecast for April 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] EURUSD Monthly Forex Forecast for April 2018

EURUSD Monthly Forex Forecast for April 2018

Technical Outlook: The EURUSD maintained a range within 1.2443 and 1.2240 levels for the most of last month. Price action continues to consolidate within these levels and suggests that there could be a potential breakout from this range in the month ahead. We could see some short term gains in price as EURUSD continues to push ahead to thee upside within the broader triangle pattern that is evolving near the top end of the rally. A close above 1.2443 could signal further gains to the upside with the potential for the euro currency to post fresh highs. However, in the event of a reversal the declines are likely to stall near the low end of the support at 1.2240.

Fundamental Outlook: The month ahead will see a relatively quiet month following the close to the first quarter data. With the ECB seen hold interest rates steady, focus remains on the fundamentals from the region. Recent consumer price index data suggested that headline inflation might have increased in the month of April. This could reflect in some positive sentiment in the common currency. With most of the domestic issues now a thing of the past, the focus will remain on the global trade uncertainty led by Trump’s policies. The markets are cautious as the potential for the trade uncertainty could trigger into a global trade war with Europe likely to be affected. The only main event coming up in April is the ECB’s monetary policy meeting but no changes are expected from the central bank this month.

 

Previous EURUSD Monthly and Weekly Forex Forecast

EURUSD Monthly Forex Forecast for April 2018

The post EURUSD Monthly Forex Forecast for April 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] Real Time Forex Trading Signals – 31st March 2018

This screenshot was taken on the 31st March 2018 for the week 26th to 30th March 2018.
If you want to copy all of our trades in Real Time, please click here to learn more.

Real Time Forex Trading Signals Portfolio – 31st March 2018

Real Time Forex Trading Signals – 31st March 2018

 

The post Real Time Forex Trading Signals – 31st March 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

CryptoCurrency News: IBM Evolution: Big Blue Is Finally Getting Serious About Cryptocurrency



IBM is breaking from enterprise blockchain norms by publicly working with cryptocurrencies in a wide range of projects.

via CoinDesk

CryptoCurrency News: Everything You Were Afraid to Ask About Crypto Taxes



There's a lot of information to process, but ignoring it can be hazardous. The IRS is going to come after investors who are not reporting their gains.

via CoinDesk

[FOREX TIP] Top 5 Most Predictable Currency Pairs for Q2 2018

#1. Gold

Gold prices were seen edging higher over the quarter but price action managed to stall near the resistance level around the 1300.00 round number level over the past three months. Still, with the strong gains posted to this level, a breakout off this level cannot be ruled out.

Is Gold on the verge of a breakout to the upside?

In the next quarter ahead, gold prices are likely to be influenced by the U.S. monetary policy and the global themes which are currently divergent. This could keep gold prices continue to trade flat around the current levels. A strong breakout above 1300, preferably on a monthly close could convince the upside bias as the precious metal could target the previous highs at 1377 level.

#2. EURGBP

The EURGBP currency pair has turned flat near the highs with price action maintaining a steady range of 0.8926 and 0.8691 level. This flat price action which has been in play since the past six months is expected to continue unless there is a breakout from this level.

EURGBP has every reason to trading within range this coming quarter

In the next quarter, we expect EURGBP to maintain this range especially as longer term risks related to Brexit uncertainty abates. Last quarter, the EU and the UK managed to seal a transitory deal that would allow for an orderly exit from the EU. This removes a significant amount of risk from the EURGBP which could reflect in price action staying flat at the current levels. Watch for a breakout below 0.8691 level of support which could see the euro giving up the gains and declining toward 0.8312.

#3. EURJPY

The EURJPY currency pair gave up most of the gains with February’s price action seeing a bearish close. Still, prices were supported near the 129.00 – 126.80 level of support. We expect to see this support level holding up in the near term.

Will the Uptrend Continue in Q2 2018 for EURJPY?

The longer term bias remains to the upside with EURJPY likely to target the 139.00 level of resistance. But considering the strong bearish close from February’s price action there is a significant risk that the EURJPY could break out below the support level. A close below 126.80 could signal a decline to the previous support level formed at 124.00 with EURJPY likely to maintain a range within 126.80 and 124.00 level.

#4. EURUSD

The EURUSD currency pair has turned flat following the strong gains to the $1.25 handle during the first three months of the year. Price action is expected to remain flat until we see a strong breakout from the current levels.

The EURUSD Bulls look tired and out of steam…

The currently bullish flag pattern being formed near the current levels puts the bias to the upside. However, given the pace of gains and lack of support being established in this rally, we expect the EURUSD to risk pullback. Support is seen near 1.1852 level which could be tested if the current momentum fails. To the upside, the EURUSD will need to breakout above the previous highs formed near 1.2455 level to maintain further gains.

#5. WTI Crude Oil

WTI crude oil prices managed to post some strong gains over the first quarter as noted in our previous quarterly commentary. Price action drifted strongly higher from the previous levels of $54 to rise toward the $64 handle. The upside bias continues to remain.

WTI Crude Oil Going up higher likely…

WTI crude oil prices managed to post some strong gains over the first quarter as noted in our previous quarterly commentary. Price action drifted strongly higher from the previous levels of $54 to rise toward the $64 handle. The upside bias continues to remain.

 

Hopefully you found this list to be useful. If we have enough comments, we will continue with this list every quarter. 2017 has been awesome for us and 2018 will even be greater.

The post Top 5 Most Predictable Currency Pairs for Q2 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

Friday, March 30, 2018

CryptoCurrency News: Report: Kazakhstan's Central Bank Wants to Ban Cryptocurrencies



The chairman of the National Bank of Kazakhstan told Sputnik News it is seeking an all-encompassing ban on cryptocurrency exchanges and mining.

via CoinDesk

CryptoCurrency News: Chile's State-Owned Bank Cutting Ties with Crypto Exchanges



Chile's public bank will terminate the accounts of three cryptocurrency exchange clients within 10 days, according to a local news report.

via CoinDesk

CryptoCurrency News: AirAsia Planning Cryptocurrency-Based Rewards Program



The Malaysian discount airline plans to use its proprietary BigCoin token to facilitate transactions and act as a frequent-flyer rewards program.

via CoinDesk

CryptoCurrency News: Cisco Imagines Group Chats on a Blockchain in Patent Filing



A Cisco patent application describes how a blockchain could let people form groups on the fly to share files and other data while tracking membership.

via CoinDesk

CryptoCurrency News: Riot Blockchain Acquires Futures Brokerage After Crypto Pivot



Riot Blockchain announced it would "investigate" creating a crypto exchange and futures product after acquiring a registered brokerage.

via CoinDesk

CryptoCurrency News: Winner-Turned-Loser ICON Tanks 40 Percent as Crypto Markets Falter



It's been a bad week for the wider cryptocurrency market, and one token alone in the top 25 by market cap has registered moderate gains.

via CoinDesk

CryptoCurrency News: Telegram Doubles Amount Raised in ICO to $1.7 Billion



Messaging app provider Telegram has raised a second $850 million in its ongoing token sale, according to a new filing with the SEC.

via CoinDesk

CryptoCurrency News: Arizona Bitcoin Trader Convicted for Crypto Money Laundering



An Arizonan bitcoin trader has been convicted for using the cryptocurrency to launder the proceeds of drug deals. 

via CoinDesk

CryptoCurrency News: Does the IRS Get a Cut of Your Bitcoin Cash?



The tax treatment of hard forks in the U.S. is uncertain and the IRS should issue guidance addressing such issues, says a legal expert.

via CoinDesk

CryptoCurrency News: Bitcoin Eyes Bottom After 50-Day Low Below $7K



Bitcoin prices dropped to a 50-day low of $6,630 today, but a bottom may be in sight, chart analysis suggests.

via CoinDesk

CryptoCurrency News: Singapore Launches Blockchain Challenge with Funding Prizes



The Singapore government is launching an innovation-boosting blockchain challenge that will reward successful projects with funding.

via CoinDesk

CryptoCurrency News: Malta Watchdog Proposes New Blockchain Gaming Guidelines



The Malta Gaming Authority has published draft regulations for digital game companies that want to use distributed ledger or blockchain platforms.

via CoinDesk

CryptoCurrency News: Taxing Every Bitcoin Purchase Will Backfire for the IRS



The IRS' 2014 tax guidance may encourage cryptocurrency users to use unregulated foreign exchanges and use privacy coins like monero or zcash.

via CoinDesk

CryptoCurrency News: Crypto Exchange OKEx to Roll Back Trades After Futures Plunge



OKEx has halted token withdrawal and futures trading amid irregular activities that pulled down bitcoin futures price significantly.

via CoinDesk

[FOREX TIP] XAUUSD Price Action Analysis – 29th Mar 2018

NZDJPY has been having a consolidation on the H4 chart. By analyzing the chart, it seems that a breakout towards the upside has the more chance to take place. The first H4 candle came out as a solid Bearish candle; then the next one came out as a Bullish Doji reversal candle. If the current H4 candle engulfs the last H4 candle and we get an H1 breakout towards the upside, then buying the pair would get us some green pips.

The level of 76.645 has been working as the level of Support here. If this level is held and produces an H4 Bullish Engulfing candle, then we would have to wait for an H1 breakout at the level of 77.000 to take a long entry. Let us have a look at the summary of the trade…

  • Buy Stop Order: 77.000
  • Stop Loss:  76.645
  • Take Profit:  77.580
  • Validity: 72 hours
  • Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

This kind of trade setup offers 1:1 risk and reward ratio. As we know, 1:2 risk and reward ratio usually we aim at. However, the market does not always offer entries with 1:2 risk and reward ratio. Especially, today is the last day of the week and the month. Thus, it might be a sluggish day today. However, if the breakout does happen, then we would not have to wait too long for the price to hit the target. This trade setup is intraday traders’ one of the most favorites setup, so we would see enough liquidity if the breakout happens.

NZDJPY Price Action Analysis – 30th Mar 2018

 

The post XAUUSD Price Action Analysis – 29th Mar 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

Thursday, March 29, 2018

CryptoCurrency News: Ether Drops Below $400 to Hit Lowest Price Since November



The price of ether, the cryptocurrency of the ethereum network, fell below $400 on Thursday for the first time since November.

via CoinDesk

CryptoCurrency News: Intel Wants to Patent a Bitcoin Mining Hardware 'Accelerator'



Intel explains in a recently-released patent application how it would improve its products for bitcoin mining purposes.

via CoinDesk

CryptoCurrency News: Email Service MailChimp to Block ICO, Crypto Marketing



Email distribution company MailChimp will bar marketing campaigns for cryptocurrencies and initial coin offerings next month.

via CoinDesk

[FOREX NEWS] The pound will need strong data to recover, not sure it will find it


The GBP/USD is trading around $1.4050, the lowest in a week amid US Dollar strength. UK GDP came out as expected and the better Current Account figure is not enough to cheer the Pound.  The break below uptrend support is a bearish sign. The GBP/USD is trading some 0.20% down on the day around $1.4050. [...]

The post The pound will need strong data to recover, not sure it will find it appeared first on Forex Crunch.



via Forex Crunch

CryptoCurrency News: Game Giant Unity to Work With Kik's ICO Token



The Kin Foundation, which governs the cryptocurrency developed by Kik, announced a partnership with Unity Technologies on Thursday.

via CoinDesk

CryptoCurrency News: Scammers Are Posing As Crypto Exchange Support Staff, Says FBI



The FBI's Internet Crime Complaint Center warned against criminals who pretend to be tech support for crypto exchanges.

via CoinDesk

CryptoCurrency News: 'Colored Coins' Startup Coinprism Is Shutting Down This Weekend



Coinprism was arguably ahead of its time. But much has changed on the tech and regulatory fronts since its debut in 2014, and the startup is closing.

via CoinDesk

CryptoCurrency News: Major Cryptocurrencies Are Hitting 2018 Lows Today



Ripple's XRP, ether and bitcoin cash have all hit fresh lows for the year, amid broader crypto market weakness.

via CoinDesk

CryptoCurrency News: Report: Korean Insurer Denies Claim from Bankrupt Crypto Exchange



A South Korean cryptocurrency exchange has reportedly had its insurance claim denied months after it closed following a debilitating hack.

via CoinDesk

CryptoCurrency News: UK Financial Watchdog Warns Over Unregistered Crypto Brokerage



The U.K.'s Financial Conduct Authority has warned investors over an unregistered brokerage that appears to be offering crypto-related derivatives.

via CoinDesk

CryptoCurrency News: China's Central Bank Eyes Crypto as Possible Yuan Risk



The People's Bank of China says cryptocurrencies will be a top priority for the agency this year, in an effort to protect the national currency.

via CoinDesk

CryptoCurrency News: Can the Lightning Network Avoid Going Corporate?



As startups developing bitcoin's Lightning Network start pushing the tech forward, some wonder whether it'll be taken over by corporate interests.

via CoinDesk

CryptoCurrency News: $7K Next? Bitcoin Bears Pull Off Downside Break



Bitcoin bears have come out victorious in the two-day tug of war with the bulls and may push prices down to $7,000.

via CoinDesk

CryptoCurrency News: West Virginia Piloting Blockchain Voting App in Senate Election



The U.S. state of West Virginia is trialing a voting system for absentee military personnel using a mobile app powered by blockchain technology. 

via CoinDesk

CryptoCurrency News: State Digital Currency Still On Agenda, Says China Blockchain Research Lead



China is still in the process of developing a state digital currency, the chief of a government-funded blockchain research center has said.

via CoinDesk

[FOREX TIP] XAUUSD Price Action Analysis – 29th Mar 2018

XAUUSD had a strong Bearish move yesterday. The H4 chart suggests that the price might come further down. Today’s first two H4 candles came out as Bullish candles, but a significant level of Resistance is held. The current H4 candle seems to be a strong Bearish one. If this candle really comes out as a Bearish candle and makes a breakout towards the South, then we might get an opportunity to sell XAUUSD and make some green pips. Let us find out the level of breakout and the Resistance level. Have a look at this chart.

XAUUSD Price Action Analysis – 29th Mar 2018

See after being Bearish, XAUUSD produced two Bullish H4 candles. The level of 1327.70 has come into play and acts as a level of Resistance. This is the level where price reacted before. Now if the current candle keeps going towards the downside and makes a breakout at the level of 1323.50, then we would wait for a little correction up to the level of 1323.50. To take the entry, we wait for an H1Bearish Engulfing candle to be produced right at that level. Let us have a look at the summary of the trade…

  • Sell Stop Order: 1323.50
  • Stop Loss: 1327.70
  • Take Profit: 1309.00
  • Validity: 72 hours
  • Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

With most of the brokers, XAUUSD’s spread is high. However, the movement of XAUUSD is quite good as well. Thus, at the end of the day, trading in XAUUSD is lucrative. Another good thing about trading in XAUUSD is XAUUSD normally does not get affected by so-called “High impact news events” unless it really is a very high impact news event.

XAUUSD Price Action Analysis – 29th Mar 2018

 

The post XAUUSD Price Action Analysis – 29th Mar 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX NEWS] How to trade the UK GDP with GBP/USD


The final read of UK GDP for Q4 2017 is closely watched and may provide a trading opportunity. The Market Impact tool lays out the bullish and the bearish scenarios for trading the event. Buying GBP/USD scenario Tradable Positive Trigger: +0,85 deviation [BUY Pair] Key Resistance Level: 1.4150 If it comes out at higher than expected [...]

The post How to trade the UK GDP with GBP/USD appeared first on Forex Crunch.



via Forex Crunch

Wednesday, March 28, 2018

CryptoCurrency News: Report: 2 Japanese Crypto Exchanges to Shut Down



Two crypto exchanges in Japan are reportedly set to close amid growing regulatory scrutiny from regulators in the wake of a $500 million theft.

via CoinDesk

CryptoCurrency News: Judge Backs FTC Asset Freeze in Crypto Fraud Case



U.S. Magistrate Lurana Snow has recommended that a preliminary injunction be enforced against four alleged scammers.

via CoinDesk

CryptoCurrency News: B3i Shifts From Blockchain Consortium to Full-Fledged Company



B3i has become an independent company that will continue to explore and provide blockchain applications for the insurance industry.

via CoinDesk

CryptoCurrency News: Survey: Younger Koreans More Likely to Invest in Crypto



Nearly a quarter of South Koreans in their 20s want to invest in cryptocurrencies, according to a new poll conducted by Bank of Korea.

via CoinDesk

CryptoCurrency News: Ripple Joins Hyperledger Blockchain Consortium



Ripple has joined the Hyperledger project along with thirteen other companies and organizations.

via CoinDesk

CryptoCurrency News: Crypto Job Interest Waned with Price Decline, Says Indeed



Data from Indeed.com suggests that jobseekers' interest in cryptocurrency-related jobs dropped alongside declines in prices.

via CoinDesk

CryptoCurrency News: Uphold Adds Buy and Sell Options for Ripple's XRP



Digital payments startup Uphold announced Wednesday that it has added support for Ripple’s XRP cryptocurrency.

via CoinDesk

CryptoCurrency News: Bitcoin Cash Bull Failures Could See Traders Move to Bitcoin



Bitcoin is likely to outperform its rival bitcoin cash in the short-run, the technical charts indicate.

via CoinDesk

CryptoCurrency News: Danske Bank Rules Out Crypto Trading But Won't Block Credit Cards



The biggest bank in Denmark is banning cryptocurrencies from its trading platforms, but will still allow credit card purchases for general customers.

via CoinDesk

CryptoCurrency News: Sharding Is Already Ushering in Radical New Ethereum Designs



One of ethereum's biggest upgrades isn't quite live, but that doesn't mean it's not inspiring critical thinking about how to boost the network.

via CoinDesk

CryptoCurrency News: Luxury Car Dealer Teams with BitFlyer for Big Bitcoin Payments



A Japanese car dealership is adding bitcoin as a payment option with support from cryptocurrency exchange bitFlyer

via CoinDesk

CryptoCurrency News: Why Bitcoin's 'Death Cross' May Turn Out a Bear Trap



Bitcoin risks entering a technical "death cross" soon, but the bearish signal will likely not be as severe as has been made out in reports.

via CoinDesk

CryptoCurrency News: Blockchain Tops 2017 Fintech Enquiries, Says Swiss Finance Regulator



Enquiries around blockchain, cryptocurrency and ICOs in Switzerland have increased significantly, according the country's financial regulator, FINMA.

via CoinDesk

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