CryptoCurrency News: What Comes After the Futures? The Next Chapter for Bitcoin

The future is bright following Wall Street's futures trading embrace, but education is emerging as a key hurdle ahead.

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CryptoCurrency News: Utility: The Defining Word for Tokens in 2018

A rising token tide may be lifting all boats, but when the water line lowers, utility will likely be their key defense.

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[FOREX TIP] AUDUSD Weekly Forex Forecast – 25th to 29th Dec 2017

AUDUSD Weekly Forex Forecast – 25th to 29th Dec 2017

The Aussie is one of the few currency pairs that have managed to put in place some kind of a swing low. The inability to break below the big psychological number 0.7500 and the subsequent rally are confirming the bullish trend. However, in the short term we can expect more consolidation.

The stochastic indicator is already in overbought territory and the resistance level 0.7730 can provide a good wall for the current bullish run. On the downside, the region between 0.7650 – 0.7625 can provide a good support level. Due to the low level of trading activity we should expect more consolidation in the coming days. The Australian economic calendar doesn’t have anything to offer us in terms of risk events. Monday is the first Christmas day and the markets will be closed while the rest of the week we should expect a very quiet market.

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AUDUSD Weekly Forex Forecast – 25th to 29th Dec 2017

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[FOREX TIP] USDCAD Weekly Forex Forecast – 25th to 29th Dec 2017

USDCAD Weekly Forex Forecast – 25th to 29th Dec 2017

The USDCAD is still trading in a very wide range between resistance 1.2916 and the top of the range and support level 1.2663 and the bottom of the range. We’re now in the process to retest the bottom of the range and if history is to be repeated we should expect another bounce. However, only a daily close below 1.2663 can signal that we’re ready to leave the consolidation and trend to the downside.

The stochastic indicator is in oversold conditions which can signal that a bounce has a higher probability than a break of support. On the upside, the next important level is the middle of the range 1.2784 where we can expect some kind of reaction. The Canadian economic calendar doesn’t have anything to offer us in terms of risk events. Monday is the first Christmas day and the markets will be closed while the rest of the week we should expect a very quiet market.

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USDCAD Weekly Forex Forecast – 25th to 29th Dec 2017

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[FOREX TIP] GBPUSD Weekly Forex Forecast – 25th to 29th Dec 2017

GBPUSD Weekly Forex Forecast – 25th to 29th Dec 2017

The last trading week of the year should be quiet in terms of trading activity as the liquidity will dry out due to the holiday season. The GBPUSD has remained quiet for the most part of the last two weeks hovering above the important support level 1.3320. While we trade above this support level we should expect the bullish side to prevail. However, a daily close below 1.3320 will open up the door for potentially a much bigger correction down to support level 1.3150.

The stochastic indicator doesn’t show any signs of extreme conditions in the market so we need to focus more on the price action. On the upside, the big psychological number 1.3500 remains our key resistance level. A break and a daily close above 1.3500 will expose 1.3350 but the more likely scenario is for any spike in price to be faded due to the illiquidity. The UK economic calendar doesn’t have anything to offer us in terms of risk events. Monday is the first Christmas day and the markets will be closed while the rest of the week we should expect a very quiet market.

Previous GBPUSD Weekly Forex Forecast

GBPUSD Weekly Forex Forecast – 25th to 29th Dec 2017

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CryptoCurrency News: Poof, Your Money's Gone: Building for a New Wave of Blockchain Users

MyEtherWallet founder Taylor Monahan knows a thing or two about blockchain users, arguing they're not ready for the early blockchain tools of today.

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[FOREX NEWS] Crypto-currencies extend the recovery into the weekend- BTC/USD testing $15K

The big crypto-crash on Friday saw bitcoin and its peers plunge, often at double-digit levels. Trading on bitcoin futures triggered circuit breakers on the CME Group’s exchange, already in the first week of trading. Yet after the big downfall, digital currencies experienced a recovery late on Friday. While stocks, bonds, and regular currencies are closed [...]

The post Crypto-currencies extend the recovery into the weekend- BTC/USD testing $15K appeared first on Forex Crunch.

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[FOREX TIP] Top 5 Most Predictable Currency Pairs for Q1 2018

#1. Gold

Gold prices have been declining in the third quarter of this year. Price briefly rallied to the 1300.00 level before posting declines. In the longer term, the price action is evident of an evolving inverse head and shoulders pattern. The neckline resistance is found at 1300 – 1309 region. We expect to see gold prices declining towards the 1215 level.

Gold: Inverse head and shoulders pattern

This would be a good level to buy into the decline. A reversal near the 1215 level could mark the formation of the right shoulder. This could see gold prices attempting to post another rally to the 1300 level. Booking partial profits here and targeting the inverse head and shoulders target of 1450 or 1400 at the very least could be profitable. In the first quarter of 2018, we expect gold prices to consolidate around the neckline resistance level with a breakout likely into the second quarter next year.

#2. EURGBP

The EURGBP currency pair peaked near the 0.93 handle as the currency pair closed bearish. The previous few months have seen price action trading volatile around the 0.90 handle and the 0.87 level of support. We expect this volatility to continue. Brexit remains the main theme in EURGBP. There are potential signs that the BoE could turn hawkish however, this is broadly depending on how the Brexit negotiations work out with the EU.

EURGBP: Short term rebound to 0.90

From a technical perspective, we maintain the downside bias in EURGBP. In the first quarter, EURGBP could be seen attempting to retest the 0.90 handle. This will mark the retest of the breakout level and following a reversal here, further declines are expected. By the end of first quarter 2018, EURGBP could be seen trading back at the current levels of 0.8700.

#3. EURJPY

The EURJPY has managed to lift off from the 124.00 level this year. With price action now clearing the 129 level, the bias remains to the upside. EURJPY could be seen finally testing the resistance level near the 138.94 level. However, we expect to see some downside in the near term.

EURJPY: Buy the dip to 129

EURJPY could be seen falling to the 129 – 126 region where support is seen. Establishing support at this level could see the currency pair attempting to test the upper resistance level easily. However, watch for any downside risks on a close below the 126.80 level. A break down below this support level could signal downside declines back to the 124.00 support level.

#4. EURUSD

The EURUSD has had a rather flat couple of months. Price action has been steadily hovering around the 1.17 and 1.18 levels over the past few months. This comes as the ECB signals a smaller pace of QE purchases. In the first quarter, we expect to see the euro attempting to rally back to the 1.1900 level. Filling the gap at this level will suggest exhaustion to the downside.

EURUSD could retest 1.1900

The euro currency is expected to remain range bound in the first quarter with the risk of a downside decline to 1.13 level in the longer term horizon. This bearish bias shifts only in the event that the EURUSD manages to rise above the 1.1900 level with bullish conviction.

#5. WTI Crude Oil

WTI Crude oil prices managed to lift off in 2017. Price action in the third quarter saw a steady gain in price as oil prices are seen rising to a two-year high during the third quarter. The gains in oil prices come amid November’s OPEC decision to extend the production cuts into 2018.

WTI: Buy the dip to $53

The oil cartel has been attempting to cut back on production in a bid to push oil prices higher. However, the U.S. shale oil producers are seen taking advantage of the somewhat higher oil prices which could see some downside risks. For the first quarter of 2018, we expect oil prices to remain near the current levels.

Any downside declines will be supported near the $53.00 handle. The breakout from the inverse head and shoulders pattern suggests that oil prices could being to rally from around the $53.00 price level. We maintain the long term bias towards $75.00, however the gains to this level will be gradual.

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 Q1 2018 appeared first on Advanced Forex Strategies.

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[FOREX TIP] USDCHF Weekly Forex Forecast – 25th to 28th Dec 2017

USDCHF Weekly Forex Forecast – 25th to 28th Dec 2017

Technical Outlook: The USDCHF currency pair has remained flat with price action over the past week stuck near the 0.9894 – 0.9861 level of support/resistance. A reversal near this price region could potentially signal further downside in the USDCHF. We expect that the U.S. dollar will slip towards the 0.9741 level of support initially followed by a test towards the 0.9563 support below. A retest to this support level will confirm the test of support which hd previously kept the prices supported to the upside. Alternately, to the upside, a bounce off the current level will leave the target towards 1.008 in focus..

Fundamental Outlook: Data from Switzerland for the week ahead will see just the UBS consumption indicator and the economic expectations. Both the data points are unlikely to bring about much reaction from the markets. Focus will of course turn to the U.S. markets which will see some data points that include the Conference Board’s consumer confidence data. On the housing sector, the pending home sales report will be coming out while from the labor market, the weekly unemployment claims report will be released. On Thursday, the forward looking Chicago PMI data will be released which will shed light into the activity in the manufacturing sector in the Chicago area.

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USDCHF Weekly Forex Forecast – 25th to 28th Dec 2017

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[FOREX TIP] USDJPY Weekly Forex Forecast – 25th to 28th Dec 2017

USDJPY Weekly Forex Forecast – 25th to 28th Dec 2017

Technical Outlook: The USDJPY was seen testing the previous resistance level near 113.58 last week. Price action was showing signs of exhaustion near this level. We expect to see some moderation in the rally as USDJPY could once again retrace the gains. The sideways price action within 113.58 and 112.07 could mean a potential breakout from this level in the medium term. To the upside, the next resistance level is seen at 114.60, while to the downside, a break down below 112.07 could signal a move towards the 110.91 level of support. In the near term, we expect USDJPY to retrace as it is expected to test 112.70.

Fundamental Outlook: Economic data from Japan is quiet with no major news releases of interest. Following last week’s decision by the Bank of Japan to leave interest rates and monetary policy steady, the Japanese yen is expected to remain rather muted during the week ahead. The Japanese markets are also expected to slow down. However, end of year flows and balancing of the books could lead to some volatility in the Japanese yen. Lack of macroeconomic fundamentals will likely see the Japanese yen focusing on the broader global themes which could put some significant risk on the currency.

Previous USDJPY Weekly Forex Forecast

USDJPY Weekly Forex Forecast – 25th to 28th Dec 2017

The post USDJPY Weekly Forex Forecast – 25th to 28th Dec 2017 appeared first on Advanced Forex Strategies.

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[FOREX TIP] EURUSD Weekly Forex Forecast – 25th to 29th Dec 2017

EURUSD Weekly Forex Forecast – 25th to 29th Dec 2017

Technical Outlook: The EURUSD posted a modest rally from the previous week as price action was seen trading near the resistance level of 1.1850. On the 4-hour chart, we notice the potential bullish flag pattern that has formed. The upside bias increases as we see that price action is supported above the 1.1850 level. In order to confirm the bullish flag pattern, EURUSD will need to break past the previous highs at 1.1901. Following this, further gains can be seen coming which could see the common currency testing the 1.20 level of resistance to the upside. This marks the retest to the resistance level price had declined. To the downside, failure to breakout above 1.1901 could signal a consolidating within the 1.1850 level.

Fundamental Outlook: The week ahead is quiet as far as the euro is concerned. Most of the markets will be closed for the major part of the week. On Friday, the German and Spanish preliminary inflation estimates will be released. The data is unlikely to impact the markets much with inflation expected to remain largely stable. Even in the case that inflation comes out weaker than expected, the year over year inflation rate for both the economies still stands at a healthy rate. The ECB had also previously warned that consumer prices might drop into the end of the year and early next year. With the markets well prepared for this, the euro is expected to remain trading rather flat during the week ahead.

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EURUSD Weekly Forex Forecast – 25th to 29th Dec 2017

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