A Missed Bitcoin Opportunity for Lily Allen

If there's one thing that's good with the internet, it's that it keeps receipts. In an article in 2014, "Lily Allen calls herself an 'idiot' for declining Bitcoin payment now worth millions". Now imagine the worth of that now that Bitcoin has breached USD 7,500. The singer refused an offer to play an online gig for the virtual currency

Pop star Lily Allen has voiced her regret at refusing to accept payment in Bitcoins for a gig. The "Hard Out Here"” singer was asked to perform on 3D chat website Second Life from the comfort of her home “about five years ago”. She turned down the offer as the virtual currency was worth only a small amount at the time and largely reserved for experimental use in online games. About three years ago, the singer recalled the offer:

About 5 years ago someone asked me to stream a gig live on second life for hundreds of thousNds of bitcoins, "as if" I said. #idiot #idiot

— Lily (@lilyallen) January 5, 2014

The 28-year-old’s head is now in her hands as a single bitcoin is currently valued at about $7,400; making “hundreds of thousands” a huge fee to have rejected. Allen’s fortune could be worth much more than her £6m reported worth (in 2014) had she accepted Second Life’s offer. And imagine if she had accepted and held that much now! The price has fluctuated since the first transaction using the currency took place in July 2010, when two Papa John's pizzas were bought with 10,000 Bitcoins. Up until 2011, one unit was worth just 15p. Source: Independent

CryptoCurrency News: Zk-Snarks Everywhere: Ethereum Privacy Tech Hits Tipping Point

New advances in cryptography are propelling privacy on ethereum forward, as evidenced by talks and panels at the project's Devcon conference this week.

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[FOREX NEWS] EUR/USD: October’s Right Shoulder Breakdown Targets 1.1320; Staying Short – BofAML

EUR/USD has been pressured to the downside, mostly due to the dollar’s strength. What’s next? The team at Bank of America Merrill Lynch examines the technical charts. Here is their view, courtesy of eFXnews: Bank of America Merrill Lynch FX Strategy Research maintains its bearish EUR/USD outlook, noticing that the October range/right shoulder breakdown suggests EUR/USD should decline [...]

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[FOREX TIP] AUDUSD Weekly Forex Forecast – 6th to 10th Nov 2017

The Aussie continued to struggle to gain any momentum to the upside and it seems poised for a retest of the 0.7500 before the bulls to have a change to drive this currency upwards. However, the intraday support level 0.7600 can be a big hurdle to overcome and it can stop the downside for a bounce. The stochastic indicator is moving towards oversold territory so this can be a warning sign that sooner rather than latter the bulls will get in charge. On the upside the 0.7730 resistance level, followed by 0.7800 levels can provide us with a reaction lower.

The Australian economic calendar is packed with big risk events that have the potential to disrupt the market volatility in a big way. On Tuesday we have the RBA interest rate decision that can which can set the tone for the AUD/USD price action. Based on the market consensus the RBA is expected to hold rates on hold at 1.5% but the RBA can really signal a shift in the interest rates policy in the coming months as more major central banks are moving towards a tightening cycle.

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AUDUSD Weekly Forex Forecast – 6th to 10th Nov 2017

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[FOREX TIP] USDCAD Weekly Forex Forecast – 6th to 10th Nov 2017

The USDCAD technical pattern remains bullish as long as we are trading above the 1.2663 pivot level. A daily break and close below this figure will shift the momentum to the downside and open the door for a retest of support level 1.2550 and then the big psychological level 1.2500. On the upside the big round number 1.3000 is the big resistance level and any rally above should quickly fade away.

The stochastic indicator points towards a more favorable bullish case for the next week or at least more ranging activity before the bears to really take control of the trend. In terms of risk events the Canadian economic calendar will bring BOC Governor Poloz speech scheduled on Tuesday. He is going to speck at the Montreal Council of Foreign Relations and the speech will be followed by a press conference as well.

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USDCAD Weekly Forex Forecast – 6th to 10th Nov 2017

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[FOREX TIP] GBPUSD Weekly Forex Forecast – 6th to 10th Nov 2017

GBPUSD Weekly Forex Forecast – 6th to 10th Nov 2017

The GBPUSD unexpectedly sold off despite the BOE hiking rates for the first time in almost a decade. As long as we remain below the last week high 1.3320 it’s wise to expect more downside. As an intraday resistance level we can also mention the 1.3150 level which can provide us with a reaction lower. The big pivot level 1.3000 remains key for the medium term trends. The stochastic indicator is already in oversold territory so we might first see at least some range if not a reaction higher before the downside momentum to resume. On the downside, the first level of support comes at 1.2850 followed by the August low 1.2770.

There is no major risk events scheduled on the UK economic calendar so we should expect a more technical driven GBP/USD. The only worthy news event that we can mention is the NIESR GDP estimate and the UK Inflation report hearings scheduled on Wednesday. Monday Fed chairman Yellen is also about the deliver a speech.

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GBPUSD Weekly Forex Forecast – 6th to 10th Nov 2017

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[FOREX TIP] USDCHF Weekly Forex Forecast – 6th to 10th Nov 2017

USDCHF Weekly Forex Forecast – 6th to 10th Nov 2017

Technical Outlook: The USDCHF extended its gains this week but price action was seen trading near the prior week’s high. Further gains could see USDCHF testing the next resistance level at 1.0088 region. A test of resistance here is likely to keep USDCHF trading within 1.0088 resistance and 0.9894 support. This sideways range could be maintained in the near term. However, we expect a retest of the support at 0.9894 – 0.9861 level. Establishing support here, USDCHF could potentially breakout to the upside which will be validated on a close above 1.0088. In the short term expect USDCHF to bounce off the resistance level with the new sideways zone being established.

Fundamental Outlook: A quiet week from Switzerland will see just the inflation and the unemployment rate reports standing out. However, no market reaction is expected to the data from Switzerland. The economic calendar is also light this week as the consumer credit and the weekly unemployment claims reports stand out. This means that investors will be looking to the broader market sentiment in shaping the direction of the USDCHF in the coming week. The U.S. dollar remains on a better footing compared to the Swiss franc especially as investors look to the December rate hike from the Fed.

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USDCHF Weekly Forex Forecast – 6th to 10th Nov 2017

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[FOREX TIP] USDJPY Weekly Forex Forecast – 6th to 10th Nov 2017

USDJPY Weekly Forex Forecast – 6th to 10th Nov 2017

Technical Outlook: USDJPY continued to trade flat for the most part with price action seen hovering just below the 114.50 – 114.00 level of resistance. This consolidation is expected to be maintained in the near term. However, the bias to the downside could start to build up as the resistance zone proves hard to break. Support is seen near 113.00 which could be tested in the short term but the downside could be limited to this level. A break down below 113.00 support will however put further declines in store. USDJPY could be seen posting a correction to the next support level formed near 110.91 – 110.66. A breakout above 114.50 will signal a continuation to the upside but with price action trading flat we expect that a short term trend correction is in place.

Fundamental Outlook: The data from Japan also takes a back seat this week following the BoJ’s decision to hold interest rates and its QE program unchanged last week. The Japanese yen continues to consolidation sideways with the trend currently neutral. On the economic front, the average cash earnings will provide some clues on whether wage pressures could translate into higher inflation. Consumer prices in Japan have remain muted despite the massive QE program undertaken by the Bank of Japan. Later in the week, the bank lending data will shed light on the credit markets followed by the preliminary machine tool orders.

Previous USDJPY Weekly Forex Forecast

USDJPY Weekly Forex Forecast – 6th to 10th Nov 2017

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[FOREX TIP] EURUSD Weekly Forex Forecast – 6th to 10th Nov 2017

 

Technical Outlook: The EURUSD was seen mostly consolidating last week as price action bounced off the 1.1588 support. With the resistance established at 1.1691, price action was seen trading sideways within this level. We expect to see another retest back to the support level formed at 1.1588 in the near term. A break out below this level will signal further decline in prices due to the bearish flag pattern that was formed. The minimum downside objective in EURUSD, upon validation of the bearish flag pattern comes to 1.1411. However, in the event that price action finds support at 1.1588, then we expect the sideways range to be formed with the potential for a strong correction towards 1.1691 resistance which could be tested more firmly.

Fundamental Outlook: The week ahead will see mostly second tier economic data coming out from the Eurozone. This is expected to keep the euro on the back foot as investors look to the broader markets for clues and the U.S. economic data to an extent. The week starts off with the German final services PMI followed by the services PMI for the Eurozone. Mid-week, the ECB will be releasing its economic bulletin as well which then concludes with final inflation figures from Germany that could shed light on whether there has been an improvement in the overall inflation data for the Eurozone.

Previous EURUSD Weekly Forex Forecast

EURUSD Weekly Forex Forecast – 6th to 10th Nov 2017

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[FOREX TIP] Weekly Forex News Events for EURUSD – 6th to 10th Nov 2017

EURUSD finished the week with slightly bearish tone. The pair had a strong rejection from the North. The weekly candle has come out as a Bearish Pin bar. However, last week’s support has not yet been breached though. If the level gets broken next week, then the pair would go towards the South for some days. Let us now have a look at some high impact news events that might create strong volatility on the pair next week.

Wednesday-8^th November 2017- GMT 15.30

• Crude Oil inventories

This news event always has the potential to make the pair very volatile. It often ends up producing huge spikes on the intraday charts as well. Thus, the best thing to do would be to wait for the news impact to get over then look for the trading opportunities.

Thursday-9^th November 2017- GMT 13.30

• Unemployment Claims

This would be the biggest news event for the week. The pair would get very volatile and some great opportunities could be found as well once the market gets settled after the news event.

As we see on the next week’s Forex calendar, there are not too many high impact news events. This means the week would favour technical analysis more. In one way it is good, but if the big technical traders do not make the pair move, then it would be tough for the retail traders to find out good entry. Let us now wait and see whether the pair makes some technical moves or not next week.

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