CryptoCurrency News: The Next CryptoKitties? Baidu Unveils Blockchain Pet Project

China's search giant Baidu is testing a crypto dog marketplace on blockchain

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[FOREX NEWS] The Altcoins creeping up on Bitcoin

By the end of 2017, the entire world was mad about Bitcoin. Over the course of 2017, it had gone from $966.60 to over $17,000, an increase of 1,600%. Not bad for a one year return. Its market cap of $275 billion would be exceeded by only a handful of the largest companies in the [...]

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[FOREX TIP] USDCAD Weekly Forex Forecast – 5th to 9th Feb 2018

USDCAD Weekly Forex Forecast – 5th to 9th Feb 2018

The USDCAD has potentially put in place a new swing low but last week early rally can also see some deep retracement before new highs to be seen. But for the bullish case to remain valid we need any sell off to remain above last week low 1.2248. We can also mention intraday support level at 1.3350 that can offer us with a reaction higher.

The stochastic indicator is already in extreme overbought conditions and a retracement early in the week is more likely. On the upside the first level of resistance comes at the big round number 1.2500. The Canadian economic calendar has noting on the agenda in terms of major risk events that can disrupt the market volatility. On Tuesday, we have the Trade Balance figures and on Thursday the BOC member Wilkins is scheduled to have a speech.

Previous USDCAD Weekly Forex Forecast

USDCAD Weekly Forex Forecast – 5th to 9th Feb 2018

The post USDCAD Weekly Forex Forecast – 5th to 9th Feb 2018 appeared first on Advanced Forex Strategies.

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[FOREX TIP] AUDUSD Weekly Forex Forecast – 5th to 9th Feb 2018

The Aussie broke below the big psychological number 0.8000 and posted a strong weekly close below but we can still see another bullish attempt to regain that level. That is also our first major resistance level that can define the trend for the next weeks to come. The current sell off has also some potential to extend lower and test 0.7885 before any meaningful rally to be seen.

The stochastic indicator is already in extreme oversold territory and it suggests that we might see first some consolidation before any real big move is seen during the week. The Australian economic calendar will bring some risk events that can be the catalysts for some volatility. On Tuesday we have the Australian retail sales but more importantly we have the RBA interest rate decision and monetary policy statement. According to the market consensus the interest rate should be kept unchanged at 1.5%. Thursday we have as a proxy risk event the Chinese Trade balance figures that can dictate the AUD/USD exchange rate. Last but not least on Friday, we have the RBA Monetary policy statement.

Previous AUDUSD Weekly Forex Forecast

AUDUSD Weekly Forex Forecast – 5th to 9th Feb 2018

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[FOREX TIP] GBPUSD Weekly Forex Forecast – 5th to 9th Feb 2018

GBPUSD Weekly Forex Forecast – 5th to 9th Feb 2018

The GBPUSD price action was contained inside the last week price range which may indicate that going forward more ranging activity should be expected. The key resistance level remains the current yearly high 1.4344 which should contain any rally. However, a break and a daily close above this resistance level can open the door for more bullish momentum.

On the downside, last week low 1.3980 remains our key support level, but more importantly the big psychological number 1.4000 should be the line in the sand between the bulls and bears. The stochastic indicator has moved near oversold territory which indicates that we can see early in the week another attempt to break higher. The UK economic calendar has scheduled some major risk event that can disrupt the market volatility. On Thursday, we have the BOE interest rate decision and monetary policy which can set the trend for the British Pound. According to the market consensus is for no change in the interest rate policy but the market is waiting for some clues that might suggest that the BEO is ready to hike for the first time in a decade in May.

Previous GBPUSD Weekly Forex Forecast

GBPUSD Weekly Forex Forecast – 5th to 9th Feb 2018

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[FOREX TIP] EURUSD Weekly Forex Forecast – 5th to 9th Feb 2018

EURUSD Weekly Forex Forecast – 5th to 9th Feb 2018

Technical Outlook: The EURUSD extended gains last week to touch the previous highs at 1.2496 marking a retest of the previous top of the bullish flag pattern. However, the failure to breakout above this level indicates weakness to the upside. We expect to see EURUSD post declines on the invalidation of the bullish flag pattern. To the downside, price action could be seen testing 1.2284 where the initial support resides. Alternately, in the event that EURUSD manages to post a rebound, a strong breakout above 1.2496 is required in order to ascertain the bullish continuation.

Fundamental Outlook: The week ahead will see the release of the services PMI numbers across Spain, Italy, France and Germany. This will culminate with the Eurozone composite services PMI data. The services sector is expected to remain steady as it is one of the key drivers of the Eurozone GDP data. Later in the week, industrial and factory data from Germany will indicate how the manufacturing sector has been performing. On Thursday, the ECB will be releasing its economic bulletin although the data is unlikely to be a major market moving event.

Previous EURUSD Weekly Forex Forecast

EURUSD Weekly Forex Forecast – 5th to 9th Feb 2018

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[FOREX TIP] USDCHF Weekly Forex Forecast – 5th to 9th Feb 2018

USDCHF Weekly Forex Forecast – 5th to 9th Feb 2018

Technical Outlook: The USDCHF continued to extend the declines with the support level at 0.9455 failing to hold the declines. Price action has extended below this level and we expect to see some consolidation near the current lows of 0.9235. A rebound to the upside could see price initially facing resistance at the 0.9455 which could now turn to resistance. However, a break out above this level could see some recovery in USDCHF taking place. To the downside, expect further declines if USDCHF posts a rebound at 0.9235 only to reverse the gains.

Fundamental Outlook: Data from Switzerland is relatively quiet this week. The only notable data point will be the unemployment rate that will be released on Friday. No changes are expected to the labor market in Switzerland. From the U.S. the focus will shift to a rather busy week which will see the ISM’s non-manufacturing PMI numbers coming out. Later in the week, the U.S. trade balance figures will be released which could show a higher deficit as the U.S. imports outpace the exports. The week winds off with the UoM’s consumer sentiment data and the final wholesale inventories report.

Previous USDCHF Weekly Forex Forecast

USDCHF Weekly Forex Forecast – 5th to 9th Feb 2018

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[FOREX TIP] USDJPY Weekly Forex Forecast – 5th to 9th Feb 2018

USDJPY Weekly Forex Forecast – 5th to 9th Feb 2018

Technical Outlook: The USDJPY posted a bottom with prices briefly consolidating at the 108.43 level of support. The reversal off this level saw the USDJPY recovering the previous declines. Resistance is seen at 110.91 – 110.66 level which could be tested in the near term. A decline off this resistance level could signal a pull back. Watch for a potential cup and handle pattern that could be formed at this level. In the event that this pattern unfolds, we can expect USDJPY to extend the gains towards 112.50 on a successful breakout above 110.91 – 110.66 level of resistance. The pull back could be seen stalling near 109.60 – 109.40 level.

Fundamental Outlook: Data from Japan this week will start with the average cash earnings data. Previously, the average cash earnings increased 0.9% beating the forecasts and rising from 0.2% from the prior month. A continued increase in the average cash earnings could potentially indicate higher consumer prices in the coming months. This data could be important as it will set the stage for higher inflation which in turn could influence the BoJ’s monetary policy. Other data points from Japan over the week include the economy watchers sentiment and the leading indicators data.

 

Previous USDJPY Weekly Forex Forecast

USDJPY Weekly Forex Forecast – 5th to 9th Feb 2018

The post USDJPY Weekly Forex Forecast – 5th to 9th Feb 2018 appeared first on Advanced Forex Strategies.

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CryptoCurrency News: Changing Tide? Crypto Is Spreading Up the Dublin Coast

The crypto landscape in Dublin has changed rapidly, and with an enthusiasm perhaps disproportionate to the city's scale.

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CryptoCurrency News: The Decentralized Web Just Might Need Databases, Too

Bluzelle, which raised $19.5 million in an initial coin offering (ICO), says a decentralized version of structured databases would be more resilient.

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