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Wednesday, October 31, 2018

CryptoCurrency News: Bitcoin's White Paper Is Not a Bible – Stop Worshipping It



Software evolves, read-only text documents do not.

via CoinDesk

[FOREX TIP] NZDUSD Price Action Analysis – 1st Nov 2018

NZDUSD has been Bearish on the H4 chart. Yesterday’s Daily candle came out as a strong Bearish candle. However, today’s first H4 candle came out as a Bullish Engulfing candle and was produced at a significant level of Support. This means H4 NZDUSD chart has something to offer if we get an upside breakout. Let us have a look at the H4 NZDUSD chart.

NZDUSD Price Action Analysis – 1st Nov 2018

NZDUSD Price Action Analysis – 1st Nov 2018

The level of 0.65100 is the level of Support here. That massive H4 Bullish Engulfing Candle makes a strong statement that the pair might have found a strong level of Support here. The current H4 candle has been a Bullish candle too. Now what we have to wait here for is an upside breakout. The level of 0.65670 is the level of Resistance, which has to be broken. This means this is the breakout level that holds the key for the whole equation. Let us have a look at the summary of the trade…

  • Buy Stop Order: 0.65670
  • Stop loss: 0.65100
  • Take profit: 0.66550
  • 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

NZDUSD pair had been Bearish on the H4 chart for a long time. The pair seemed to make some upward correction first. However, at the moment it seems that the pair had some downward correction on the Daily chart. Thus, if it starts going upward then the pair would be heading towards the North on the Daily chart. So the chart we have shared, this move can be a vital move. Let us keep our eyes on the pair to find out what happens.

The post NZDUSD Price Action Analysis – 1st Nov 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

CryptoCurrency News: Morgan Stanley Report Says Crypto Now An Institutional Asset Class



Cryptocurrencies are now a new institutional investment class, rather than a fully developed electronic cash, a Morgan Stanley report says.

via CoinDesk

CryptoCurrency News: Tether's Price Has Stabilized, But the Stablecoin's Supply Is Still Shrinking



Crypto exchanges are shedding tethers by the million, and millions of USDT are ending up at Bitfinex. From there, they are taken out of circulation.

via CoinDesk

CryptoCurrency News: Vitalik Ends Devcon Talk With Sing-a-Long About Failed Ethereum Ideas



At the Devcon4 developer conference, the founder of ethereum presented the current roadmap to a more scalable network – and a song.

via CoinDesk

CryptoCurrency News: Coinbase's Head of Trading Resigns After Six Months on Job



The head of trading at Coinbase, Hunter Merghart, has resigned just six months after joining the crypto startup from Barclays, CoinDesk has learned.

via CoinDesk

CryptoCurrency News: Former Fed Chair Janet Yellen Is Now a Bitcoin Owner



A member of the crypto community has gifted former Fed chair Janet Yellen some bitcoin in response to her negative comments on the cryptocurrency.

via CoinDesk

CryptoCurrency News: Planting Bitcoin Part Four: Gardening



Once Satoshi's design for Bitcoin's genetic code was planted, it became time to nurture its development as a wholly new form of money.

via CoinDesk

CryptoCurrency News: Indian Officials Met to Discuss Possible Ban on 'Private Cryptocurrencies'



The Indian government is considering imposing a ban on what it calls "private cryptocurrencies," according to an official release.

via CoinDesk

CryptoCurrency News: Promise: A Startup Based on an Anonymous Paper Plans to Replace ACH



With $47 trillion flowing through it every year, ACH is a juicy target for blockchain disruption. Can a new startup called Promise pull it off?

via CoinDesk

CryptoCurrency News: Hong Kong Stock Exchange Taps Digital Asset for Post-Trade Blockchain Trial



The Hong Kong Stock Exchange has teamed up with DLT startup Digital Asset to develop a blockchain platform for post-trade processing.

via CoinDesk

CryptoCurrency News: The Pen Is Mightier Than the Sword? Bitcoin's White Paper Proves It



The pen is mightier than the sword, or so Satoshi Nakamoto proved with bitcoin.

via CoinDesk

CryptoCurrency News: October Close May Prove Decisive for Bitcoin Price



Bitcoin's monthly close today may reveal the cryptocurrency's directional bias after a long period of low volatility.

via CoinDesk

CryptoCurrency News: EY Reveals Zero-Knowledge Proof Privacy Solution for Ethereum



EY has announced a prototype that uses zero-knowledge proofs to allow companies to create ethereum tokens while keeping transaction private.

via CoinDesk

CryptoCurrency News: The Bitcoin White Paper's Birth Date Should Give Us All a Scare



Knowing Satoshi, Halloween was no coincidence.

via CoinDesk

[FOREX TIP] Gold Price Action Analysis – 31st Oct 2018

GOLD price is at an interesting level. The H4 chart shows that the level was obeyed by the price a number of times. By looking at the H4 chart, it seems that if the level is held as the Support level and we get an upward breakout, then Gold price would head towards the North.

Gold Price Action Analysis – 31st Oct 2018

Gold Price Action Analysis – 31st Oct 2018

The level of 1219.25 is the level, which holds the key. If this level continues to hold the price and produces an H4 Bullish Engulfing Candle, then we might get an opportunity to buy Gold and make some green pips. The level of 1222.99 is the level to be broken here by an H4 candle. If we get an H4 breakout and an H1 Bullish Engulfing Candle right at the breakout level at the time of correction, then Gold would head towards the level of 1235.55. Let us have a look at the summary of the trade…

  • Buy Stop Order: 1222.99
  • Stop loss: 1219.25
  • Take profit:  1235.55
  • 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

The Support level that holds the key here is an important level. We are assuming that the level would act as the Support level here; however, it could work as a level of Resistance here if the price of Gold keeps going towards the downside and makes an H4 breakout at that level. Things would be very different. We would have to look for Short opportunities instead of buying opportunities then. Let us wait and see what actually happens here.

The post Gold Price Action Analysis – 31st Oct 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

Tuesday, October 30, 2018

CryptoCurrency News: 19 Words Prove Just How Audacious Bitcoin Really Was



Getting back to basics means capturing the spirit also.

via CoinDesk

CryptoCurrency News: Crypto Price Tracker Poses Malware Threat for Macs: Report



A legitimate-looking cryptocurrency price tracker app may also be monitoring users' keystrokes, according to Malwarebytes.

via CoinDesk

CryptoCurrency News: Crypto Wallet Maker Ledger to Expand Support for Stablecoins, Including Tether



Benjamin Soong, Ledger's newly hired head of Asia-Pacific operations, says tether remains popular in the region despite the token's recent troubles.

via CoinDesk

CryptoCurrency News: Data Shows Millions Leaving Crypto Wallets Tied to Long-Troubled Exchange



Binance has frozen accounts that received more than 93,000 ether (over $18.9 million) from wallets indirectly linked to troubled Russian exchange WEX.

via CoinDesk

CryptoCurrency News: New Bank of America Patent Hints at Plan to Store Cryptocurrency Keys



A new Bank of America patent outlines a "hardened storage device" that can protect private keys from theft.

via CoinDesk

CryptoCurrency News: Former Fed Chair Janet Yellen Is 'Not A Fan' of Bitcoin



Janet Yellen pointed to transaction speeds and market volatility as reasons she's not bullish on bitcoin.

via CoinDesk

CryptoCurrency News: The Godfather of Ethereum ICOs Wants to Let Investors Take Their Money Back



Fabian Vogelsteller has proposed a method for safer ICOs, by allowing investors to withdraw funds.

via CoinDesk

CryptoCurrency News: ETH, LTC, DASH and NEO Just Erased Their 2018 Price Gains



Ether, litecoin, dash and neo are now down year-over-year and trading at their lowest total in over 12 months.

via CoinDesk

CryptoCurrency News: This New Ethereum Software Client Is Built With Enterprises in Mind



Unlike other enterprise versions of ethereum, ConsenSys' new Pantheon has a less-restrictive software license and uses Java as a programming language.

via CoinDesk

CryptoCurrency News: Coinbase Hits $8 Billion Valuation After $300 Million Raise



U.S.-based cryptocurrency exchange Coinbase has just announced $300 million in new funding via a Series E round.

via CoinDesk

CryptoCurrency News: Parity to Help Zcash (the Currency) Gain Independence From Zcash (the Startup)



The Zcash Foundation is partnering with an ethereum startup on a project that could boost interoperability across the crypto ecosystem.

via CoinDesk

CryptoCurrency News: Bitcoin Price Faces Drop to $6.1K After Range Breakdown



The bear grip on bitcoin has likely strengthened following yesterday's drop to two-week lows.

via CoinDesk

CryptoCurrency News: Bitcoin Trader Pleads Guilty Over Unlicensed Exchange Business



A bitcoin trader from California has pleaded guilty to operating an unlicensed money transmission business and now faces up to five years in prison.

via CoinDesk

CryptoCurrency News: What Bitcoin's White Paper Got Right, Wrong and What We Still Don't Know



Bitcoin's white paper has its flaws, too.

via CoinDesk

Monday, October 29, 2018

CryptoCurrency News: The New Effort to Get Bitcoin's Lightning Network In Every Browser



Devs are looking to make bitcoin's layer-two lightning network compatible with a payment standard used by all major browsers – and so far, so good.

via CoinDesk

[FOREX TIP] AUDJPY Price Action Analysis – 30th Oct 2018

AUDJPY might have found a strong level of Support. The H4 chart shows that the price is heading towards the North. Today’s price action has been Bullish too. Thus, a breakout towards the North would make the price go towards the North further. Let us have a look at the H4 AUDJPY chart.

AUDJPY Price Action Analysis – 30th Oct 2018

AUDJPY Price Action Analysis – 30th Oct 2018

The level of 79.220 seems to be a very strong level of Support. The price reacted heavily to this level earlier. Now have a look at today’s first H4 candle. The candle came out as a strong Bullish candle. The next candle (current candle) seems to be Bullish so far. If the price continues to go towards the North and makes an H4 breakout at the level of 79.720, then we would have to wait for a correction and an H1 Bullish Engulfing Candle right at the breakout level to take a long entry. Let us have a look at the summary of the trade…

  • Buy Stop Order: 79.720
  • Stop loss: 79.220
  • Take Profit: 80.530
  • 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

There is a good thing about AUDJPY. The pair makes a breakout, correction and produces the signal candle entry well ahead than other pairs. AUDNZD is like AUDJPY as well. The reason behind that is the AUD, the JPY and the NZD they start their working hour ahead of other pairs such as the USD, the GBP, the CAD, etc. Almost all the JPY pairs look good today. However, I assume it would be AUDJPY to offer the entry earlier than other pairs.

The post AUDJPY Price Action Analysis – 30th Oct 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

CryptoCurrency News: Russian Diamond Giant Signs Onto De Beers' Blockchain Tracking Platform



Alrosa, the world's second-largest diamond producer, is joining the blockchain pilot program spearheaded by De Beers to trace the stones' provenance.

via CoinDesk

CryptoCurrency News: Planting Bitcoin  Part Three: Soil



The bitcoin white paper wasn't written for no one. It was a carefully targeted message designed to bootstrap growth.

via CoinDesk

CryptoCurrency News: Ethereum's Biggest Enterprise Group Is Releasing New Software Specs



The largest blockchain consortium has released its latest round of specifications – the next steps to harmonizing the way big companies use ethereum.

via CoinDesk

CryptoCurrency News: UK Government Says It Will Update Crypto Tax Guidance By Early Next Year



The UK Cryptoassets Taskforce wants to encourage the development of distributed ledger technology, according to a final report published Monday.

via CoinDesk

CryptoCurrency News: Privacy Crypto Zcash Goes Live With 'Sapling' Network Hard Fork



The zcash protocol implemented its Sapling upgrade on Sunday in the hopes of making transactions faster and more secure.

via CoinDesk

CryptoCurrency News: Ripple Hires Former Google Exec as VP of Products



Blockchain payments startup Ripple has hired Google's former messaging lead as its vice president of products.

via CoinDesk

CryptoCurrency News: Paradigm Leads $30 Million Funding for Crypto Privacy Startup StarkWare



StarkWare, the company behind the zk-STARKS privacy tech, just raised $30 million in equity funding from a number of major firms.

via CoinDesk

CryptoCurrency News: Bitcoin Price Drops $200 to Hit Two-Week Low



After nearly two weeks stagnating around $6,400, bitcoin has suddenly dropped out of a narrow trading range to hit two-week lows.

via CoinDesk

CryptoCurrency News: Nine Japanese Banks to Trial Blockchain Settlement Using Fujitsu Tech



Nine Japanese banks are teaming up to trial a blockchain-based inter-bank settlement system using Fujitsu technology.

via CoinDesk

CryptoCurrency News: Singapore Power Unveils Blockchain Market for Renewable Energy Trading



Singapore's energy utilities provider has launched a blockchain-powered marketplace for trading renewable energy certificates.

via CoinDesk

CryptoCurrency News: Institutions Are Coming for Your Crypto



A clash of cultures is looming, as institutional investors eye the cryptocurrency markets.

via CoinDesk

CryptoCurrency News: Bitcoin Price May Report Yearly Loss on Its 10th Birthday



With bitcoin trading sideways around $6,400 for the 10th day, the cryptocurrency faces reporting a yearly loss for its 10th birthday on Wednesday.

via CoinDesk

CryptoCurrency News: Bitcoin Exchange Bitstamp Confirms Sale to Gaming Group NXC



The Bitstamp cryptocurrency exchange has been acquired by NXMH, an investment firm owned by South Korean conglomerate NXC.

via CoinDesk

CryptoCurrency News: Cryptocurrency Exchange Coincheck Reports Over $5 Million Loss in Q3



Coincheck, the Japanese crypto exchange that suffered a $520 million hack in January, has reported increased losses for Q3 2018.

via CoinDesk

CryptoCurrency News: The Race to Replace Tether (In 3 Charts)



Tether has had a difficult month, and rivals are eyeing its position as the top crypto "stablecoin." Here's how the contest plays out in the data.

via CoinDesk

Sunday, October 28, 2018

CryptoCurrency News: In Korea's Ruling Party, A Lawmaker Commits to Ending the ICO Ban



A powerful new voice is standing up to South Korea's ICO ban.

via CoinDesk

[FOREX TIP] GBPCAD Price Action Analysis – 29th Oct 2018

GBPCAD took a strong Bearish move on the H4 chart. Last Friday’s candle came out as a Bullish candle though. Thus, it might be the time for the pair to make a move towards the North. Let us have a look at the H4 GBPCAD chart.

GBPAUD Price Action Analysis – 29th Oct 2018

GBPAUD Price Action Analysis – 29th Oct 2018

As we see after being Bearish, the pair seemed to have found a level of Support. The price had a bounce from the level of 1.67590 three times. The level has been held by today’s price action as well. If the price keeps going up and makes an upward breakout at the level of 1.68450, then buying the pair would get us some green pips. Let us have a look at the summary of the trade…

  • Buy Stop Order: 1.68450
  • Stop loss: 1.67590
  • Take Profit: 1.70140
  • 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

None of the currency in the pair has any high impact news event today. Thus, the pair would run technically. However, the CAD has a high impact news event tomorrow at GMT 19.30. The pairs that are related with the CAD would get some volatility for the news event tomorrow. If everything goes well with today’s trade setup and we get the chance to take the entry, then we will have enough time to keep our entry and hit the target. Another thing we might have to take into account, the current month is about to be ended. The market will run smoothly for a day or two before the month end volatility takes place.

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



from Advanced Forex Strategies

CryptoCurrency News: Taiwanese Lawmaker Proposes New Business Category for Crypto Startups



Taiwanese legislator Jason Hsu wants the island to create a new business category for cryptocurrency activities, he said Friday.

via CoinDesk

CryptoCurrency News: Bitcoin's White Paper Was a Model T for Payments



The Model T democratized the car industry – and the bitcoin white paper did the same for payments, says Ripple's top technologist, David Schwartz.

via CoinDesk

CryptoCurrency News: Three Common Mistakes New Crypto Traders Make



When it comes to trading in the crypto space, there are three mistakes new traders often make. Here's how to avoid them.

via CoinDesk

Saturday, October 27, 2018

[FOREX TIP] AUDUSD Weekly Forex Forecast – 29th Oct to 2nd Nov 2018

AUDUSD Weekly Forex Forecast - 29th Oct to 2nd Nov 2018

AUDUSD Weekly Forex Forecast – 29th Oct to 2nd Nov 2018

The AUDUSD continues to trade above the big psychological number 0.7000 in a tight trading range. We need a daily break and close above intraday resistance level 0.7160 in order to be able to escape the current consolidation. However, for a material change in the trend direction, we need for the bulls to challenge again the resistance level 0.7200. A daily break and close above 0.7200 will open up the door for a deeper pullback towards resistance level 0.7346. The stochastic indicator is in neutral territory and doesn’t signal any extreme conditions in the market.

For now the bears need to break below the big round number 0.7000 which will open the door for a retest of the major swing low established at 0.6827 level. The Australian economic calendar is full of risk events that can be the catalyst for some volatility. First, on Wednesday we have the CPI inflation figures which are expected to come flat. Thursday, the Trade Balance figures will shape the price action. And Friday, the Retail Sales should give more clarity to the price action.

Previous AUDUSD Weekly Forex Forecast

 

The post AUDUSD Weekly Forex Forecast – 29th Oct to 2nd Nov 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] USDCAD Weekly Forex Forecast – 29th Oct to 2nd Nov 2018

USDCAD Weekly Forex Forecast - 29th Oct to 2nd Nov 2018

USDCAD Weekly Forex Forecast – 29th Oct to 2nd Nov 2018

The USDCAD bulls have managed to successfully defend the big psychological number 1.3000. The weekly close above the big round number 1.3000 indicates that the uptrend is still intact. Only a daily break and close below the big round number 1.3000 can signal a change in the trend direction. At the same time, a break below 1.3000 will also open the door for a retest of the next important support level 1.2890. On the upside, the bulls need to challenge the resistance level 1.3230, which has been a big hurdle over the past few weeks.

The stochastic indicator is moving away from oversold reading, so we may need to wait for a reset before the uptrend to resume. The Canadian dollar can also be impacted by some high risk events that are scheduled on the economic calendar. First we have the Canadian unemployment rate followed by the US NFP report which is the highlight risk event of the week. The market expectation is for the US economy to add 191k new jobs versus 134k previous reading.

Previous USDCAD Weekly Forex Forecast

The post USDCAD Weekly Forex Forecast – 29th Oct to 2nd Nov 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] GBPUSD Weekly Forex Forecast – 29th Oct to 2nd Nov 2018

GBPUSD Weekly Forex Forecast - 29th Oct to 2nd Nov 2018

GBPUSD Weekly Forex Forecast – 29th Oct to 2nd Nov 2018

The GBPUSD broke below the key psychological number 1.3000 and the bears managed to successfully post a weekly close below the big round number. As long as we trade below the big round number 1.3000, the bearish momentum should prevail. On the upside, we first need to conquer the resistance level 1.2960 if the bulls want to have the upper hand. The stochastic indicator is in neutral territory, which suggests that the previous week sell off is not overstretched and we can see further pressure to the downside.

The first important support level comes at 1.2800 level. Only a daily break and close below this figure will suggest more weakness ahead. This will also open up the door for the bears to challenge again the major swing low 1.2664 from where we should see a pullback. The UK economic calendar will bring as a high risk event the BOE interest rate decision. According to the market consensus we should expect the BOE to hold interest rates at 0.75% with a vote of 9-0. The BOE rhetoric will shape the price action for the week ahead.

Previous GBPUSD Weekly Forex Forecast

The post GBPUSD Weekly Forex Forecast – 29th Oct to 2nd Nov 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] USDJPY Weekly Forex Forecast – 29th Oct to 2nd Nov 2018

USDJPY Weekly Forex Forecast - 29th Oct to 2nd Nov 2018

USDJPY Weekly Forex Forecast – 29th Oct to 2nd Nov 2018

Fundamentals Outlook
The week ahead will be mixed with the start of a new trading month. Data over the week will see the French flash GDP estimates on Tuesday. The German retail sales report is due along with the EU’s fresh economic forecasts. The preliminary GDP report for the Eurozone for the third quarter will also be on top of investor minds. Flash inflation estimates will also be due from the Eurozone this week.

The Bank of Japan will be holding its monetary policy meeting on Wednesday. No major changes are expected, and the central bank could hold its interest rates unchanged. The meeting will be followed by a press conference by BoJ Governor Kuroda. Data from Switzerland is quiet for the most part this week. The U.S. economic calendar is of course busy. The week starts off with the Fed’s preferred gauge of inflation, the core PCE price index coming out. This is later followed by big ticket items such as the ADP private payroll numbers and the ISM’s manufacturing PMI data. Later on Friday, the monthly payrolls report take center stage once again.

Chart set up: The USDJPY currency pair was seen trading within the support and resistance levels that was formed. The sideways price action within these levels of 112.74 – 111.75 has kept prices flat for almost two weeks.

Key support/resistance levels:
Support: 111.75; Resistance: 112.74

Commentary:
The sideways range is expected to be in place in the short term. A breakout from this range in either direction could however set the stage for the direction. To the upside, a breakout above 112.74 will keep the USDJPY on track to test the previous resistance level at 113.58. To the downside, a break down below 111.75 will push the USDJPY to test the September lows of 110.50. For the week ahead, the USDJPY currency pair is expected to be bullish.

Previous USDJPY Weekly Forex Forecast

The post USDJPY Weekly Forex Forecast – 29th Oct to 2nd Nov 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] USDCHF Weekly Forex Forecast – 29th Oct to 2nd Nov 2018

USDCHF Weekly Forex Forecast - 29th Oct to 2nd Nov 2018

USDCHF Weekly Forex Forecast – 29th Oct to 2nd Nov 2018

Fundamentals Outlook
The week ahead will be mixed with the start of a new trading month. Data over the week will see the French flash GDP estimates on Tuesday. The German retail sales report is due along with the EU’s fresh economic forecasts. The preliminary GDP report for the Eurozone for the third quarter will also be on top of investor minds. Flash inflation estimates will also be due from the Eurozone this week.

The Bank of Japan will be holding its monetary policy meeting on Wednesday. No major changes are expected, and the central bank could hold its interest rates unchanged. The meeting will be followed by a press conference by BoJ Governor Kuroda. Data from Switzerland is quiet for the most part this week. The U.S. economic calendar is of course busy. The week starts off with the Fed’s preferred gauge of inflation, the core PCE price index coming out. This is later followed by big ticket items such as the ADP private payroll numbers and the ISM’s manufacturing PMI data. Later on Friday, the monthly payrolls report take center stage once again.

Chart set up: The USDCHF currency pair briefly broke past the resistance level of 0.9967 before testing parity. However, price action quickly gave up the gains to test the breached resistance level to find support.

Key support/resistance levels:
Support: 0.9967; Resistance: 1.0048

Commentary:
With USDCHF quickly testing the breached resistance level for support, we expect to see some sideways price action taking place. The currency pair could maintain a flat range within the mentioned support and resistance level. However, the price action is starting to show a potential correction in the currency pair. Watch for the USDCHF to break down below the support level of 0.9967. A close below this level will indicate potential declines back to the previous support at 0.9803. For the week ahead, USDCHF is expected to be bearish.

Previous USDCHF Weekly Forex Forecast

The post USDCHF Weekly Forex Forecast – 29th Oct to 2nd Nov 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] EURUSD Weekly Forex Forecast – 29th Oct to 2nd Nov 2018

EURUSD Weekly Forex Forecast - 29th Oct to 2nd Nov 2018

EURUSD Weekly Forex Forecast – 29th Oct to 2nd Nov 2018

Fundamentals Outlook
The week ahead will be mixed with the start of a new trading month. Data over the week will see the French flash GDP estimates on Tuesday. The German retail sales report is due along with the EU’s fresh economic forecasts. The preliminary GDP report for the Eurozone for the third quarter will also be on top of investor minds. Flash inflation estimates will also be due from the Eurozone this week.

The Bank of Japan will be holding its monetary policy meeting on Wednesday. No major changes are expected, and the central bank could hold its interest rates unchanged. The meeting will be followed by a press conference by BoJ Governor Kuroda. Data from Switzerland is quiet for the most part this week. The U.S. economic calendar is of course busy. The week starts off with the Fed’s preferred gauge of inflation, the core PCE price index coming out. This is later followed by big ticket items such as the ADP private payroll numbers and the ISM’s manufacturing PMI data. Later on Friday, the monthly payrolls report take center stage once again.

Chart set up: The euro currency was seen extending the declines sharply last week. The failure to capitalize on the gains the week before left the common currency to test the previously established lows for the year. Still, price action is signaling that the currency pair might be forming a bottom in the near term.

Key support/resistance levels:
Support: 1.1345; Resistance: 1.1449

Commentary:
The EURUSD has maintained a decline within the falling price channel indicating the downtrend. Short term bounces were met with aggressive selling. As the euro currency posts a rebound near the support at 1.1344, we expect in the short term a retest of the resistance level. The area between 1.1463 – 1.1449 is likely to be tested for resistance as it previously served as support. The common currency could be seen trading flat within these levels in the near term. For the week ahead, the EURUSD is expected to be flat.

Previous EURUSD Weekly Forex Forecast

The post EURUSD Weekly Forex Forecast – 29th Oct to 2nd Nov 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

CryptoCurrency News: The Double-Spend (What Bitcoin's White Paper Solved Forever)



Bitcoin's white paper solving the double-spend problem in the digital world makes near real-time commerce possible across the entire planet.

via CoinDesk

CryptoCurrency News: Defending Decentralization, Like a Twice in a Millennium Chance



During the Web3 Summit earlier this week, speakers and attendees struck an optimistic tone, even though the challenges for blockchain are great.

via CoinDesk

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