Noob Currency Trader: 03/23/18

Friday, March 23, 2018

CryptoCurrency News: Quebec Pushes Hydropower Utility to Halt New Bitcoin Mines

Quebec is temporarily suspending new cryptomining operations from setting up facilities in its low-cost power region.

via CoinDesk

CryptoCurrency News: Smart Contracts Now Recognized Under Tennessee Law

Tennessee has officially approved the use of a blockchain to store legally binding contracts and signatures.

via CoinDesk

CryptoCurrency News: IRS Reminds US Taxpayers to Report Crypto Earnings

The IRS sent U.S. taxpayers a reminder Friday to pay taxes on any gains made from trading cryptocurrencies over the last year – including payments.

via CoinDesk

CryptoCurrency News: US Government Watchdog: Regulations Are Hobbling DLT Innovation

The U.S. Government Accountability Office said cumbersome U.S. financial regulations are inhibiting innovation by distributed ledger tech startups.

via CoinDesk

CryptoCurrency News: 'Fake News': Russian Official Reportedly Denies Involvement with Petro

A Russian official has called reports that the country helped Venezuela launch its controversial petro cryptocurrency "fake news."

via CoinDesk

CryptoCurrency News: Ireland's Finance Department Plans Blockchain Working Group

Ireland’s Department of Finance has proposed the creation of a blockchain working group to help form cohesive regulation across government agencies.

via CoinDesk

CryptoCurrency News: Steve Seagal-Backed 'Bitcoiin' ICO Hit with Regulator Warning

The Tennessee Department of Commerce and Insurance is warning the states residents about the Steven Seagal-backed "Bitcoiin" project.

via CoinDesk

[FOREX NEWS] After the storm, the pound has no serious upside resistance — Confluence Detector

The Technical Confluences Indicator shows that the GBP/USD has plenty of support to the downside and few resistance lines on the way up. Looking down, the $1.4124 area features the SMA10-15m, the SMA10-4h, Bolinger Bands 1h-Upper Stdv 2.2 and the Fibo 38.2% 1d. An even stronger cluster of support lines awaits around $1.4080: the 1d high, the BB 15m Lower Stdv, the Fibo [...]

The post After the storm, the pound has no serious upside resistance — Confluence Detector appeared first on Forex Crunch.

via Forex Crunch

CryptoCurrency News: 9 Malaysian Banks Team Up for Trade Finance Blockchain Apps

Nine Malaysian banks have teamed up to develop blockchain applications for trade finance, according to the country's central bank.

via CoinDesk

CryptoCurrency News: ICON to EOS: 3 Cryptos Are Leading the Market Recovery

The cryptocurrency markets regained some poise in the week ending March 23, with several individual tokens making more notable gains.

via CoinDesk

CryptoCurrency News: Banks Building Blockchain Confront Tech Limitations

Executives working with two of the largest live blockchain implementations spoke on stage at the DTCC's annual fintech event.

via CoinDesk

CryptoCurrency News: Yahoo Japan to Launch Cryptocurrency Exchange in 2018, Says Report

Yahoo Japan is planning to launch its own cryptocurrency exchange next year, Nikkei Asian Review reports.

via CoinDesk

CryptoCurrency News: $8K? Bitcoin Under Pressure After Rejection at Key Hurdle

Bitcoin's retreat from the 200-day moving average hurdle may yield a retest of the psychological support of $8,000.

via CoinDesk

CryptoCurrency News: Blockchain Standardization Tops Chinese IT Ministry's 2018 Agenda

China's Ministry of Information Technology and Industry is ramping up its focus on national blockchain standardization this year.

via CoinDesk

CryptoCurrency News: Blockchain Remittances Face Efficiency Hurdle, Says Taiwan Central Bank

A trialed blockchain system for interbank clearance was not as efficient as the current centralized system, says a central bank report.

via CoinDesk

CryptoCurrency News: Warning: The Blockchain Could Rot Your Brain

As we move toward trusting everything recorded in a blockchain, consider the societal impact, e.g. on our ability to think critically and skeptically.

via CoinDesk

[FOREX TIP] GBPUSD Price Action Analysis – 23rd Mar 2018

GBPUSD had a strong Bullish run on the Daily chart. The H4 chart shows that the price has been trying to come down. The first H4 candle today came out as a strong Bullish candle, but the next one came out as a Bearish reversal. If the current candle ends up being an Engulfing Bearish Candle, then we might get a short opportunity on the pair later today.

GBPUSD Price Action Analysis – 23rd Mar 2018

Have a look at the chart. The level of 1.41255 has been working as a level of Resistance here. It has already produced an H4 Bearish reversal candle. The current candle seems that it would come out as a Bearish Engulfing candle. If the current H4 candle makes a breakout at 1.40925, then we would have to wait for an H1 Bearish candle right at the breakout level to take the short entry. Let us have a look at the summary of the trade…

Sell Stop Order: 1.40925
Stop Loss: 1.41255
Take Profit: 1.39825
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 USD has a High impact news event today at GMT 13.30. I assume the selling signal would be a good signal to take if it comes after that High impact news event. The GBP has a Medium impact news event at GMT13.00. This news event might not put that much effect. However, let’s hope that it does not create long spikes on the intraday charts. Sometimes these kinds of news events create long spikes on the intraday charts and ruin a good trade setup.

GBPUSD Price Action Analysis – 23rd Mar 2018

The post GBPUSD Price Action Analysis – 23rd Mar 2018 appeared first on Advanced Forex Strategies.

from Advanced Forex Strategies

[FOREX NEWS] 4 reasons why USD/JPY fell below 105

The USD/JPY fell below the closely-watched ¥105.00 level and trades at the lowest since November 2016. Worries about trade dominate, but they are not alone in pushing the pair lower. The technical picture is bearish but the pair may be stretched. Four reasons for the collapse of the USD/JPY 1) US-Chinese trade issues: The Trump Administration [...]

The post 4 reasons why USD/JPY fell below 105 appeared first on Forex Crunch.