Forex daily News FBS

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News to trade on December 13

Candlesticks graphs here: http://bit.ly/2QNrtaF

13.12.2018

According to today’s news, Chinese authorities invited the US for further trade negotiations. They also said to plan more US soybean purchases today. As a result, AUD/USD moved higher. More positive news concerning the trade negotiations between the US and Сhina will push the pair towards the resistance at 0.7260. If the uncertainties increase, the pair will fall towards the support at 0.7182 (50-day MA).

The price for NZD/USD also showed uncertainty. If the risk-on sentiment increases, it will rise towards the resistance at 0.6890 and probably retest it. Otherwise, it will fall towards the support at 0.6738.

Today the economic calendar is highlighted by the ECB monetary policy statement at 14:45 MT time. The European central bank is anticipated to end its quantitative easing policy soon. The comments by the ECB president Mario Draghi may support the EUR. EUR/USD was supported yesterday after the news on the budget cut of the Italian budget deficit and rose to the central pivot at 1.1374. The Italian government has agreed to cut its budget deficit to 2.04% compared to 2.40% previously. For now, it anticipates the approval by the European Commission. For now, it has already crossed this level, heading towards the resistance at 1.1437. If the ECB provides hawkish comments for the euro, it will stick near this level. Otherwise, the pair will fall to the support at 1.1323.

Yesterday, Theresa May won her confidence vote. Today she will meet with the European leaders to find a solution on Brexit. That is why the headlines may bring the volatility to the cable. Bulls pushed the pair higher, the pair crossed the 1.2560 level and tested the resistance at 1.2643. If today’s negotiations turn out to be successful for May, the pair will stick above the 1.2643 level. The next resistance is placed at 1.2740. In case of negative news, it will fall towards the support at 1.2560. The next support lies at 1.2462.

Oil continues to face the uncertainties over the OPEC output cut. In case of negative news, the price for WTI will fall towards the support at $49.93. Otherwise, if the OPEC+ confirms its actions, it will rise towards the resistance at $52.23.

As for Brent, the bearish pressure will pull the crude’s price downwards to the support at $58.6. Positive news will pull it higher. The first resistance lies at $61.15.

 

[SebsCubs]

Bitcoin goes down

More at: http://bit.ly/2QTLAnz

14.12.2018

On Friday, Bitcoin along with other key crypto assets declined in Asia. It happened due to the fact that digital token protocol Basis ceased operations and had its capital returned to investors because of regulatory fears.

Eventually, Bitcoin inched down by nearly 3.08% showing a reading of $3,305. As for Ethereum, this digital currency sank too, losing 2.42% being worth $86.2.

Besides this, XRP declined by about 1.32% ending up with $0.29919. Additionally, Litecoin slipped by 3.35% concluding at $23.191.

Geared up towards launching a fully decentralized and stable token absolutely resistant to volatility, on Thursday Basis announced its decision to shut down and also return the invested funds to its owners.

The company actually explained that move by a strong negative impact of the necessity to comply with American securities regulation. Under these conditions Basis doesn’t know how to dodge security status for share and bond tokens, which is undesirable for the startup.

By the way, among the startup’s investors there are Bain Capital Ventures, Silicon Valley venture capital firm Andreessen Horowit, and Google’s capital investment arm GV.

Despite some recent regulation hazards and clampdowns, some countries are still interested in driving crypto assets.

In addition to this, the Gulf Times informed that the key financial institution of the United Arab Emirates is actually working on a joint project with its neighbor, the Saudi Arabia Monetary Authority with the aim of launching a digital coin their for cross-border transactions.

Moreover, French politicians also urged the country’s leader to invest up to EUR500 million in the blockchain sector. On Wednesday, they came up with a report on the ledger technology that proposed to make their country a “blockchain nation.” They are assured that in the nearer future blockchain will drastically change the world, and in particular, France.

 

[SebsCubs]

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[SebsCubs]

News to trade on December 18

Check the candles: http://bit.ly/2A1wkv5

18.12.2018

During the Asian session the risk-off sentiment across the markets increased as China’s president Xi Jinping failed to bring updates on the trade truce between the US and China during his speech. As a result, the Japanese yen strengthened against the US Dollar. For now, it has already tested the strong support at $112.49. If it is broken, the next support is at 111.61. If the USD strengthens, the first resistance will lie at 113.11. If this level is broken, bulls will target the next resistance at 113.98.

The New Zealand dollar has been rising on the upbeat level of business confidence. The NZD business confidence increased to -24.1 in December (vs. -37.1 in November). As a result, the kiwi has already crossed the 200-day MA. If NZD/USD continues to move up, it will retest the 0.6876 resistance. If this level is broken, the next resistance is at 0.6961. Otherwise, if the USD gains its strength, the pair will be pulled towards the support at 0.6742.

The euro has been rising due to the weak US Dollar. The Italian and French budget deficits do not affect the market as much as they did. For now, the main focus for the pair remains on the tomorrow's Fed decision on its interest rate and monetary policy. If bulls continue to push the pair up, it will rise towards the resistance at 1.1408. If the USD is supported ahead of the Fed decision, the pair will fall to the support at 1.1338.

The British Prime Minister Theresa May announced the vote on the Brexit plan in the House of Commons to be on January 14. Today, she plans to discuss the chances of a no deal with her cabinet. As the date for the vote brought more certainty, GBP/USD has started to recover. In case of more positive news, the pair will rise further to the resistance at 1.2735. In case of more uncertainty or negative comments, the cable will stick below the support at 1.2605. The next support is placed at 1.2452.

The prices for WTI and Brent keep falling down on the news about the US oversupply. The price for WTI has already tested the support at $48.67. More news about increased oil production will pull its price further to the next support at $47. On the other hand, more hints from OPEC+ on the future production cut will push the WTI price towards the resistance at $49.88. The next resistance lies at $51.55.

Now let's look at Brent's chart. For now, it has been targeting the support at $57.63. If bulls get back their strength, the price for Brent will rise towards the resistance at $58.92. If it's broken, the next resistance is placed at $60.62.

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[SebsCubs]

News to trade on December 19

Check the candles: http://bit.ly/2UR3J4J

19.12.2018

The main focus for the market for today will be on the Federal open market committee statement and on the press conference at 21:00 MT (19:00 GMT) time. The Federal Reserve is expected to deliver the 4th rate hike. If the Fed is hawkish, EUR/USD will fall to the support at 1.1338.

However, some of the analysts afraid of the possible dovish tone by the Fed amid the global economic slowdown. If the Fed Chair Powell delivers dovish comments, EUR/USD will stick above the resistance at 1.1408.

According to the news, the British Prime Minister Theresa May agreed to implement the plans for a no-deal Brexit. Further warnings to Great Britain will be announced in the coming weeks. At the moment, GBP/USD has continued its modest gains towards the resistance at 1.27. Any positive updates on the Brexit solution will support the British pound and push it further up to the 1.27 level. Otherwise, if the news on Brexit disappoints investors and traders, the British currency will fall towards the support at 1.2605.

New Zealand anticipates the release of GDP for the third quarter. Experts see the economy of New Zealand to grow by 0.6%. If the actual data is higher, the kiwi will rise towards the resistance at 0.6876. The lower-than-expected data will pull the kiwi down to the support at 0.6826.

The oil prices keep moving down driven by Russian and US high supply forecasts. Russian oil production hit a record 11.42 million barrels this month, while the level of oil production in 7 US shale basins is expected to climb to more than 8 million barrels by the end of 2018. As a result, the price for WTI updated its August 2017 lows and stick below the $47 level yesterday. More concerns on the oversupply will pull the crude’s price towards the support at $45.76. If more hints on the production cut by OPEC+, scheduled for the next month come out, the price for WTI will stick above the resistance at $47.02. The next resistance is placed at $48.68.

As for Brent, its price tested the support at $55.96. If it’s broken, bears will focus on the next support at $55.12. If the price for Brent gets a positive momentum, it will rise towards the resistance at $57.65.

The gold has been going up due to the weak US dollar. If the USD is not supported by the Fed statement, the price for the yellow metal will rise towards the resistance at $1,258. In case of the strong USD, the price for gold will stick below the support at $1,248.

 

[SebsCubs]

News to trade on December 20

Check the candles: http://bit.ly/2EA6NfC

20.12.2018

Yesterday, the Federal Reserve raised its interest rate from 2.25% to 2.5%. However, the comments by the Fed Chair Jerome Powell brought some uncertainty to the market. Fed officials predicted two rate hikes in 2019, instead of three mentioned during the previous meeting. In addition, they cut the long-term expectations for the policy rate. It resulted in the mixed trading of the USD.
In other news, the European Commission brought some positivity to the euro traders. The European Commission vice president Valdis Dombrovskis confirmed the commission has reached a deal with Italy on its budget. It will avoid the excessive deficit procedure and avoid disciplinary measures. As a result, EUR/USD has gained significantly. For now, the pair has already crossed the 1.1408 level. The next resistance for the pair lies at 1.1513. If the USD gains back its strength, the pair may fall back below the 1.1408 level towards the support at 1.1338.

During the Asian session, the Bank of Japan kept its monetary policy unchanged, as expected. USD/JPY was unaffected by this decision, driven mostly by the weak USD and the risk-off sentiment across the equity markets. At the moment the pair has been targeting the support at 111.61. If it is broken, the next support lies at 110.99. If the USD gains back its strength, the pair will move up to the resistance at 112.49.

The Bank of England will present its monetary policy summary and announce its official bank rate votes at 14:00 MT time. The rate hike is not expected, however, the BOE governor Mark Carney and his colleagues may provide some supportive data for the British pound and suggest some hints for further bank’s decisions in case of a no-deal Brexit. The British pound has already bounced from the strong support at the central pivot at 1.2605. For now, GBP/USD has been gaining towards the resistance at 1.2735. The hawkish BOE will make the cable rise higher to the 1.2735 level. Otherwise, if the BOE is dovish or the actual level of the retail sales disappoints the investors, the risks of the fall below the 1.2605 support will increase.

The Australian dollar has been rising after the release of employment change. The indicator increased by 37 thousand employed people (vs. 20 thousand people expected). The aussie has tested the resistance at 0.7133. If the sentiment in the market changes, bulls will manage to break this level. The next resistance is placed at 0.7260. If the USD strengthens, AUD/USD will fall towards the support at 0.7094. The next support lies at 0.7037.

Gold has been moving up amid the weak USD. Today, it has already risen towards the resistance at $1,258, reaching the highs of July 2018. In case of the strong USD, the price for the yellow metal will fall downwards to the support at $1,240.

 

[SebsCubs]

Weekly Cryptonews

More at: http://bit.ly/2rON6ZW

21.12.2018

Stephen Pairs, Bitpay CEO: “I used to say 10 years, but now I think it’s more like 3-5 years until you can go into a restaurant, a retail establishment, and just everybody’s going to expect that that store will be able to accept a blockchain payment.”

Crypto market finally entered the correction phase. The price for Bitcoin rebounded from the $3,222 level on Saturday and continued to go up. On Thursday it managed to stick above the $4,000 level. If bulls continue to pull the price further, it will manage to rise towards the resistance at $4,337. The next resistance is placed at $4,753. In case of the bearish pressure, the price for the oldest cryptocurrency will fall towards the support at $3,660. If we look at the technical side, we can see that the price created lower lows on the daily chart, while MACD formed higher lows. This situation is called convergence and signals reversal to the upside. In addition, Parabolic SAR shows an uptrend for Bitcoin. It is a good sign for the further rise of the grandfather of cryptocurrencies.

In other news:

The cryptomarket has grown by $10 billion in several days. Can you believe it?

The Bitcoin mining’s difficulty declined by 9.5%. It means that miners will get back to work soon.

Regulations:
Two US congressmen suggested to exclude cryptocurrencies from the securities classification and improve the tax treatment for currencies.

French authorities refused to cut taxes for the owners of crypto assets. The current tax is held at 36%.

The British government suggested providing the Financial Conduct Authority (FCA) with additional rights to regulate cryptocurrency assets.

New releases:

Facebook announced the stablecoin’s development for WhatsApp users. At first, it will be launched in India.

The construction of the crypto heaven in Malta continues: RnF Finance Limited submitted a request for blockchain bank’s license.

Just for fun:

The famous trader Mark Dow closed the short position for Bitcoin, which he was holding for the whole year. He opened position when BTC’s price was at the top. Now we know the reason for the bearish market


Bitcoin $4,142

Ethereum $117.47

Litecoin $32.32

DASH: $94.37

 

[SebsCubs]

Top events this week will bring us

More at: http://bit.ly/2Ta25to

24.12.2018

This week brings us not so many important events in the market due to the central banks’ holidays on December 24 and December 25. However, there are still some opportunities for trading.

Speech by the Bank of Japan Governor Mr. Kuroda (Thu, 6:00 MT (4:00 GMT) time) – The governor of one of the most dovish banks Haruhiko Kuroda is expected to speak on December 27. His speech may support the Japanese yen.

American CB consumer confidence (Thu, 17:00 MT (15:00 GMT) time) - The level of US consumer confidence by the Conference Board is expected to decline to 133. If the actual data is higher, than expected, the USD will be supported.

Hot topics:

The Chinese finance ministry has announced changes to the tariffs since the beginning of next year. China will remove export tariffs on 94 products, including iron ore and levy temporary tariffs on more than 700 items.

US Treasury Secretary Steven Mnuchin will speak with the Federal Reserve on financial markets today.

According to news, Trump has been discussing the possibility to fire the Fed Chair Jerome Powell last few days. He has been warned that firing the head of the Federal Reserve would be a destructive move towards the US economy. Moreover, it is not clear Mr. Trump has a right to fire Mr. Powell.

Leaders of the US Congress failed to reach a deal with the White House on the border wall funding and the government was partially shut down. It is worth to mention, the Democrats will take control of the House on January 3, which means Trump may never get funding for the wall.

OPEC plans to deepen or extend the reductions of the oil production. Its actions may support the oil prices at the beginning of the year.

Have a good week of trading and happy holidays!

 

[SebsCubs]

Top events this week will bring us

More at: http://bit.ly/2Ta25to

24.12.2018

This week brings us not so many important events in the market due to the central banks’ holidays on December 24 and December 25. However, there are still some opportunities for trading.

Speech by the Bank of Japan Governor Mr. Kuroda (Thu, 6:00 MT (4:00 GMT) time) – The governor of one of the most dovish banks Haruhiko Kuroda is expected to speak on December 27. His speech may support the Japanese yen.

American CB consumer confidence (Thu, 17:00 MT (15:00 GMT) time) - The level of US consumer confidence by the Conference Board is expected to decline to 133. If the actual data is higher, than expected, the USD will be supported.

Hot topics:

The Chinese finance ministry has announced changes to the tariffs since the beginning of next year. China will remove export tariffs on 94 products, including iron ore and levy temporary tariffs on more than 700 items.

US Treasury Secretary Steven Mnuchin will speak with the Federal Reserve on financial markets today.

According to news, Trump has been discussing the possibility to fire the Fed Chair Jerome Powell last few days. He has been warned that firing the head of the Federal Reserve would be a destructive move towards the US economy. Moreover, it is not clear Mr. Trump has a right to fire Mr. Powell.

Leaders of the US Congress failed to reach a deal with the White House on the border wall funding and the government was partially shut down. It is worth to mention, the Democrats will take control of the House on January 3, which means Trump may never get funding for the wall.

OPEC plans to deepen or extend the reductions of the oil production. Its actions may support the oil prices at the beginning of the year.

Have a good week of trading and happy holidays!

 

[SebsCubs]

News to trade on December 26

Check the candles: http://bit.ly/2SleVVz

26.12.2018

The US dollar has risen on the Wednesday’s morning after the US president Donald Trump expressed confidence in the US Treasury secretary, Federal Reserve and US economy yesterday. As a result, EUR/USD has dropped to the support at 1.1385. If Trump expresses more confidence towards the Fed Chair Jerome Powell, EUR/USD will break that support and fall further to the next one at 1.1283. Otherwise, in case of more uncertainties, the pair will rise towards the resistance at 1.1470.

Gold is trading at last June’s highs. Up to this moment, the price for the yellow metal is testing the resistance at $1,269. If this level is broken, the next resistance is placed at $1,283. If the USD gets stronger, the price for gold will fall towards the support at $1,252.

On Monday, the price for oil tested the fresh lows. The WTI’s price stuck below the $42.86 level. Any updates on the output cut by OPEC will push the price higher above the $42.86 level to the resistance at $47.49. If the bearish pressure continues, the price for WTI will fall further to the next support at $40.73.

As for Brent’s price, it has tested the support at $50.43. Positive news on the production cut will help bulls to pull the price towards the resistance at $55.12. Otherwise, it will break the support at $50.43 and target the next support at $47.40.

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