Tuesday, February 6, 2018

CryptoCurrency News: Bull Case? Crypto Reacts to Senate Hearing Remarks

CoinDesk recaps Tuesday's U.S. Senate hearing, in which two major regulatory agencies testified as to their abilities to oversee the crypto market.

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CryptoCurrency News: $8K Again? Bitcoin Is Up Nearly $2K from Today's Low

After a January correction which saw bitcoin shed $8,000, the world's largest cryptocurrency began making a comeback on Tuesday.

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CryptoCurrency News: There'd Be No DLT Without Bitcoin, Says CFTC Chief

"It's important to remember that if there were no bitcoin, there would be no distributed ledger technology," Giancarlo told a U.S. Senate committee.

via CoinDesk

CryptoCurrency News: CFTC Chair: 'We're Used To' Volatile Assets Like Bitcoin

As might be expected, Tuesday's Senate hearing touched on cryptocurrencies' volatility. But the head of the CFTC put the matter in perspective.

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CryptoCurrency News: SEC Chief Clayton: 'Every ICO I've Seen Is a Security'

Initial coin offerings were one of several subjects up for discussion during Tuesday's U.S. Senate hearing.

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CryptoCurrency News: Economist Roubini: 'Crypto Crazies' Are 'Cyber Terrorists'

Noted economist Nouriel Roubini resumed his criticism of cryptocurrencies on Twitter Tuesday, calling the tech's enthusiasts "crypto-crazies."

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CryptoCurrency News: Venezuela's Cryptocurrency Plans Draw Ire at US Senate Hearing

Venezuela's plan to launch a cryptocurrency came under fire from U.S. lawmakers on Tuesday in a hearing that saw discussion on domestic regulation.

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CryptoCurrency News: New Regulation for Crypto? US Senate Hearing Rekindles Debate

A hearing at the U.S. Senate Tuesday saw top lawmakers debate the need for new legislation to increase crypto industry oversight.

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CryptoCurrency News: BIS Chief Slams Bitcoin As Ponzi Scheme and Threat to Central Banks

The head of the Bank for International Settlements has blasted bitcoin as "a bubble," "a Ponzi scheme" and an "environmental disaster."

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CryptoCurrency News: Warren Buffet's Railroad Firm Joins Blockchain Alliance

A major U.S. freight railroad network operator owned by Warren Buffet's Berkshire Hathaway has joined the Blockchain in Transportation Alliance.

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CryptoCurrency News: Taiwan Official: Government Should Prepare for Crypto Collapse

A senior official from Taiwan's executive branch has cautioned on the potential impact of cryptocurrencies on the island's financial stability.

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CryptoCurrency News: Bitcoin's Price Has Nearly Unwound Its Futures Boost

Futures may have boosted bitcoin above $10k, but it appears that rally has all but unwound.

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CryptoCurrency News: Sanctions Showdown Looms for US and Cryptocurrency

If OFAC turns its eye toward cryptocurrencies, it could be only a matter of time before it makes an example of one or more entities to send a message.

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CryptoCurrency News: Singapore Lawmakers Question Prime Minister Over Crypto Regulation

Members of Singapore's parliament have asked if the government will reconsider the country's stance on cryptocurrency regulation.

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CryptoCurrency News: Cryptocurrency Market Drops to Lowest Value Since November

The total value of all cryptocurrencies fell to $276 billion today – the lowest level since Nov. 26.

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CryptoCurrency News: CFTC to Take 'Do No Harm' Approach on Crypto Regulation

The chairman of the U.S. Commodity Futures Trading Commission has spoken of the need for balance when regulating cryptocurrencies.

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CryptoCurrency News: ICO Tokens Are Already Changing Traditional Startups

Crypto tokens are making some companies, especially those with existing virtual currency businesses, rethink the way they make a profit.

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CryptoCurrency News: Coinbase Confirms 4 Banks Blocking Bitcoin Purchases on Credit Cards

Coinbase has confirmed that users from four banks in the U.S. are now barred from buying cryptocurrencies using credit cards.

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CryptoCurrency News: Bitcoin Slumps to 12-Week Low Below $6K

Bitcoin prices plunged to a 12-week low below $6,000 this morning, reporting double-digit percentage losses amid a continued crypto market sell-off.

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CryptoCurrency News: Ex-PayPal President: Facebook Messenger Unlikely to Support Crypto

Facebook Messenger is unlikely to adopt cryptocurrencies soon, says vice president of messaging David Marcus.

via CoinDesk

[FOREX TIP] XAUUSD Price Action Analysis – 6th Feb 2018

XAUUSD has been in a range on the Daily chart. However, the H4 chart suggests that XAUUSD might head towards the North. Today, the first H4 candle has been a solid Bullish candle, which made a breakout of last trading day’s higher high. Thus, buyers are going to keep their eyes at the breakout level to get an H1 Bullish Engulfing Candle to go long on XAUUSD today. Let us have a look at the H4 XAUUSD chart.

XAUUSD Price Action Analysis – 6th Feb 2018

Have a look at the massive H4 Bullish candle, which made a breakout at 1340.60. The immediate next H4 candle (is not finished yet) seems to be an Inside bar by holding the breakout level. This means if the price comes a bit down at the breakout level and we get an H1 Bullish Engulfing candle right at the level of 1340.60, then buying XAUUSD would get us some green pips. Let us have a look at the summary of the trade…

  • Buy Limit Order: 1340.60
  • Stop Loss: 1335.45
  • Take Profit: 1351.75
  • 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

Trading XAUUSD can be very rewarding since most of the time XAUUSD moves technically. The currency pairs have high impact news events every now and then. Traders have to count those. Sometimes even a good technical setup might not attract the traders if there is a high impact news ahead. XAUUSD does not have too many high impact news events. Unless there is a big political or geographical issue XAUUSD is usually very steady.

The post XAUUSD Price Action Analysis – 6th Feb 2018 appeared first on Advanced Forex Strategies.

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