Happy Thursday!
The USD hit an 11-month high against the yen and remained strong versus other currencies. It was boosted by the upbeat US data and positive comments from Federal Reserve Chairman Jerome Powell.
💡 Trade ideas to consider
USD/JPY: BUY – 113.40; SL 112.85; TP1 114.40, TP2 115.30, TP3 116.30.
GBP/USD: SELL – 1.2785; SL 1.2840; TP1 1.2685, TP2 1.2640, TP3 1.2570.
The USD hit an 11-month high against the yen and remained strong versus other currencies. It was boosted by the upbeat US data and positive comments from Federal Reserve Chairman Jerome Powell.
💡 Trade ideas to consider
USD/JPY: BUY – 113.40; SL 112.85; TP1 114.40, TP2 115.30, TP3 116.30.
GBP/USD: SELL – 1.2785; SL 1.2840; TP1 1.2685, TP2 1.2640, TP3 1.2570.
Forecast for the British Pound
📝 80% of currency strategists polled by Reuters said the GBP will be higher than now in a year, that is, by the time the UK leaves the European Union. The non-deal Brexit risks were already priced in.
📊 Despite the wide range of options in the survey, only 2 out of 64 forecasters said the British pound could reach 2016 highs at around $1.50 before the Referendum on Brexit. The overall anticipation of the future price by strategists has fallen since the last poll in April.
📈 At the moment, GBP/USD is rising after the news about the new British proposal on Irish border. The next resistance is 1.3080. In case of negative news, the support is at 1.297 (50-day MA).
📝 80% of currency strategists polled by Reuters said the GBP will be higher than now in a year, that is, by the time the UK leaves the European Union. The non-deal Brexit risks were already priced in.
📊 Despite the wide range of options in the survey, only 2 out of 64 forecasters said the British pound could reach 2016 highs at around $1.50 before the Referendum on Brexit. The overall anticipation of the future price by strategists has fallen since the last poll in April.
📈 At the moment, GBP/USD is rising after the news about the new British proposal on Irish border. The next resistance is 1.3080. In case of negative news, the support is at 1.297 (50-day MA).
Hello, traders! Hope you’re having a good day!
😉
🕞 As you may probably know, the level of non-farm employment change or non-farm payrolls (NFP) will be released today at 15:30 MT time. It is the leading indicator of consumer spending, that is why it can influence the USD significantly.
🇺🇸
📝 The NFP in August reached 201,000 payrolls.
Let’s check what major banks predict about the September digits:
📌 Goldman Sachs – 175,000.
“Strong September employment report, decline in the unemployment rate, firm average hourly earnings, despite the hurricane Florence”
📌 Morgan Stanley – 178,000.
“Growth of the employment level, the lowest levels of initial jobless claims, limited hurricane Florence impact”
📌 Amherst Pierpont – 190,000.
“A slight decline due to the hurricane Florence influence”
📌 Wells Fargo – 210,000.
“Repeat of the August levels, record low levels of initial jobless claims, decline in unemployment rate to 3.8%”
If actual figures are greater than the forecasts, the USD will increase.
💸
Up to now EUR/USD is falling towards the support at 1.1413. If NFP beats the forecasts, the pair will fall below this level. 📉Otherwise, it will go above the resistance at 1.1507.📈
😉
🕞 As you may probably know, the level of non-farm employment change or non-farm payrolls (NFP) will be released today at 15:30 MT time. It is the leading indicator of consumer spending, that is why it can influence the USD significantly.
🇺🇸
📝 The NFP in August reached 201,000 payrolls.
Let’s check what major banks predict about the September digits:
📌 Goldman Sachs – 175,000.
“Strong September employment report, decline in the unemployment rate, firm average hourly earnings, despite the hurricane Florence”
📌 Morgan Stanley – 178,000.
“Growth of the employment level, the lowest levels of initial jobless claims, limited hurricane Florence impact”
📌 Amherst Pierpont – 190,000.
“A slight decline due to the hurricane Florence influence”
📌 Wells Fargo – 210,000.
“Repeat of the August levels, record low levels of initial jobless claims, decline in unemployment rate to 3.8%”
If actual figures are greater than the forecasts, the USD will increase.
💸
Up to now EUR/USD is falling towards the support at 1.1413. If NFP beats the forecasts, the pair will fall below this level. 📉Otherwise, it will go above the resistance at 1.1507.📈
#EconomicCalendar
USD fell as NFP disappointed traders
- Nonfarm payrolls accounted for 134K versus the forecast of 185K.
- However, there are some good news: unemployment rate declined to 3.7% and average earnings rose by 0.3%.
The USD declined but we don’t think that it’s a start of a new trend.
USD fell as NFP disappointed traders
- Nonfarm payrolls accounted for 134K versus the forecast of 185K.
- However, there are some good news: unemployment rate declined to 3.7% and average earnings rose by 0.3%.
The USD declined but we don’t think that it’s a start of a new trend.
#ECONOMICCALENDAR
5 things to know this week❗
📌 1. Australian NAB business confidence level (Tue, 3:30 MT time) - The digits for the previous period have been the lowest since the beginning of the year. It is connected with trade wars between the US and China and falling prices on the housing market. Will this month’s data outperform the previous one?
📌 2. The August GDP and manufacturing production level for Great Britain (Wed, 11:30 MT time) – The GDP is expected to increase by 0.1% after reaching 0.3% in July. At the same time manufacturing production is forecast to expand by 0.1%. Remember that if the actual numbers are higher than the forecasts, the GBP will grow.
📌 3. The US producer price index (PPI) (Wed, 15:30 MT time) - economists expect the indicator to increase by 0.2% in September.
📌 4. The US consumer price index (CPI) and core CPI (Thu, 15:30 MT time) – CPI as well as core CPI will grow by 0.2% in September according to experts.
📌 5. The US crude oil inventories (Thu, 18:00 MT time) – The change in the number of oil barrels have an effect on the prices of Brent and WTI. It affects the Canadian dollar too. Do not forget to follow USD/CAD!
⚡ Hot topics:
🇨🇳 Further trade tensions between China and the United States are coming. Right now the USA is seeking the way to prevent Japan, the UK and the EU from making separate trade agreements in order to isolate “non-market” China.
🇮🇹 Italian crisis does not mean Italy is going to leave the EU any time soon.
🇬🇧 More details on Brexit are anticipated as the Brexit summit is planned on October 17.
Traders, are you excited for this week?
😉
5 things to know this week❗
📌 1. Australian NAB business confidence level (Tue, 3:30 MT time) - The digits for the previous period have been the lowest since the beginning of the year. It is connected with trade wars between the US and China and falling prices on the housing market. Will this month’s data outperform the previous one?
📌 2. The August GDP and manufacturing production level for Great Britain (Wed, 11:30 MT time) – The GDP is expected to increase by 0.1% after reaching 0.3% in July. At the same time manufacturing production is forecast to expand by 0.1%. Remember that if the actual numbers are higher than the forecasts, the GBP will grow.
📌 3. The US producer price index (PPI) (Wed, 15:30 MT time) - economists expect the indicator to increase by 0.2% in September.
📌 4. The US consumer price index (CPI) and core CPI (Thu, 15:30 MT time) – CPI as well as core CPI will grow by 0.2% in September according to experts.
📌 5. The US crude oil inventories (Thu, 18:00 MT time) – The change in the number of oil barrels have an effect on the prices of Brent and WTI. It affects the Canadian dollar too. Do not forget to follow USD/CAD!
⚡ Hot topics:
🇨🇳 Further trade tensions between China and the United States are coming. Right now the USA is seeking the way to prevent Japan, the UK and the EU from making separate trade agreements in order to isolate “non-market” China.
🇮🇹 Italian crisis does not mean Italy is going to leave the EU any time soon.
🇬🇧 More details on Brexit are anticipated as the Brexit summit is planned on October 17.
Traders, are you excited for this week?
😉
Have a good Tuesday, everyone!
🇮🇹 The main focus for today is on the meeting of the Italian finance minister Giovanni Tria with lawmakers on the government fiscal outline. The government set deficit target at 2.4% of GDP for 2019 and 2.1% for 2020. At the moment EUR/USD is declining. 📉
🇬🇧 Keep an eye on the speech of the UK Brexit secretary Dominic Raab today during the session at the Commons at 15:30 MT time as he may comment on the Irish border solution.
💡 Trade ideas to consider:
GBP/USD: BUY — 1.3040; SL — 1.3020; TP1 — 1.3100; TP2 — 1.3170
EUR/USD:SELL — 1.1470/80; SL — 1.1500; TP1 — 1.1390; TP2 — 1.1360
🇮🇹 The main focus for today is on the meeting of the Italian finance minister Giovanni Tria with lawmakers on the government fiscal outline. The government set deficit target at 2.4% of GDP for 2019 and 2.1% for 2020. At the moment EUR/USD is declining. 📉
🇬🇧 Keep an eye on the speech of the UK Brexit secretary Dominic Raab today during the session at the Commons at 15:30 MT time as he may comment on the Irish border solution.
💡 Trade ideas to consider:
GBP/USD: BUY — 1.3040; SL — 1.3020; TP1 — 1.3100; TP2 — 1.3170
EUR/USD:SELL — 1.1470/80; SL — 1.1500; TP1 — 1.1390; TP2 — 1.1360
😱 It’s Wednesday already! Do you know what that means? Yes, more #TRADERSLANG !
To catch the falling knife – when trader tries to buy in a market with a lot of downward momentum without proper investigation.
Did you know this phrase? 😉
To catch the falling knife – when trader tries to buy in a market with a lot of downward momentum without proper investigation.
Did you know this phrase? 😉
Good morning everyone! ☀
❗Don't forget to join our webinar on Currency correlations today at 13:00!
✏ Have you ever asked why when one currency pair rises, another one falls? FBS analyst Darya Bobrova will answer this question and explain you the basics of currency analysis.
❗Don't forget to join our webinar on Currency correlations today at 13:00!
✏ Have you ever asked why when one currency pair rises, another one falls? FBS analyst Darya Bobrova will answer this question and explain you the basics of currency analysis.
📉 The stock market experienced a massive sell-off tonight. Most of the major indexes fell including the S&P, the NASDAQ and the Dow. The reason for this plunge lies in rising US treasury yields and renewed worries about the trade war. Despite these factors, the US dollar index fell to its last month levels. For now, it is testing the support at 95.03.
Trade signals for today: 🔎
🇬🇧 GBP/USD: Buy — 1.3170; SL — 1.3150; TP1 — 1.3230; TP2 — 1.3260
🇯🇵 USD/JPY: Sell — 111.6; SL — 112.15; TP1 — 110.6; TP2 — 107.85 TP3 — 105.64
Trade signals for today: 🔎
🇬🇧 GBP/USD: Buy — 1.3170; SL — 1.3150; TP1 — 1.3230; TP2 — 1.3260
🇯🇵 USD/JPY: Sell — 111.6; SL — 112.15; TP1 — 110.6; TP2 — 107.85 TP3 — 105.64
📢Have a successful Friday, traders! Here's the main #Cryptonews for this week:
📈 Bitcoin started bullish on Monday breaking the two-week resistance at $6610 and testing the pivot resistance at $6683.
📊The crisis on the stock market when Nasdaq fell by more than 4%, S&P 500 and Dow Jones by more than 3% affected the price of the digital currency heavily. On Thursday it tested its September lows at the support at $6190.
🌱For now, the digital currency is trying to recover testing the resistance at $6304. If it manages to close above this level, the next resistance is at $6437. Any negative activity on the digital currency market, as well as manipulations by Bitcoin whales, can make the currency weaker. In that case, the support is at $6190.
Other news:
✅ World trade organization sees global advantages in applying blockchain-technologies to financial and trade fields.
✅ United Arab Emirates’ authorities compared ICO to the public offering of the common stock.
✅ Harvard, Stanford and Massachusetts universities invest millions of dollars in cryptofunds. This is a good news for the legitimization of the sphere.
Bitcoin $6,310.1 (+0.13%)
DASH $162.10 (-1.45%)
Ethereum $197.00 (-1.94%)
Litecoin: $51.94 (+1.21%)
More news on Crypto and Blockchain on our website: ➡
📈 Bitcoin started bullish on Monday breaking the two-week resistance at $6610 and testing the pivot resistance at $6683.
📊The crisis on the stock market when Nasdaq fell by more than 4%, S&P 500 and Dow Jones by more than 3% affected the price of the digital currency heavily. On Thursday it tested its September lows at the support at $6190.
🌱For now, the digital currency is trying to recover testing the resistance at $6304. If it manages to close above this level, the next resistance is at $6437. Any negative activity on the digital currency market, as well as manipulations by Bitcoin whales, can make the currency weaker. In that case, the support is at $6190.
Other news:
✅ World trade organization sees global advantages in applying blockchain-technologies to financial and trade fields.
✅ United Arab Emirates’ authorities compared ICO to the public offering of the common stock.
✅ Harvard, Stanford and Massachusetts universities invest millions of dollars in cryptofunds. This is a good news for the legitimization of the sphere.
Bitcoin $6,310.1 (+0.13%)
DASH $162.10 (-1.45%)
Ethereum $197.00 (-1.94%)
Litecoin: $51.94 (+1.21%)
More news on Crypto and Blockchain on our website: ➡
FBS Analytics via @vote
How often do you trade on the FX market?📈📉
anonymous poll
FX trading is my passion, so I open new orders every day😎 – 108
👍👍👍👍👍👍👍 52%
A good trade deal requires an accurate analysis, so 2-4 times a week😇 – 43
👍👍👍 21%
Once a week😋 – 29
👍👍 14%
It’s like a game for me, so really seldom, maybe several times a year😳 – 16
👍 8%
Once a month😅 – 11
👍 5%
👥 207 people voted so far. Poll closed.
anonymous poll
FX trading is my passion, so I open new orders every day😎 – 108
👍👍👍👍👍👍👍 52%
A good trade deal requires an accurate analysis, so 2-4 times a week😇 – 43
👍👍👍 21%
Once a week😋 – 29
👍👍 14%
It’s like a game for me, so really seldom, maybe several times a year😳 – 16
👍 8%
Once a month😅 – 11
👍 5%
👥 207 people voted so far. Poll closed.
Good morning, traders! ✳
Are you ready for this week❓
Here we present you the 5 MOST IMPORTANT things to follow from the #ECONOMICCALENDAR this week!
✅ The US retail and core retail data (Mon 15:30 MT) - the September figures are expected to increase by 0.4% and by 0.3% correspondingly. The actual data for the last months came out lower than the expectations. Will it happen this month? Let's wait.
✅ New Zealand quarter CPI (Tue, 12:45 MT) – the forecasts for this indicator of inflation are quite optimistic due to the higher oil prices. According to analysts, it increased to 1.7% in the 3rd quarter. If the actual data beat the expectations, the kiwi will increase. For now, the inflation remains below the Reserve bank of New Zealand's target of 2%, so there is no chance the bank will make a rate hike any time soon.
✅ British CPI (Wed, 11:30 MT) – The level of annual UK consumer inflation is expected to reach 2.6%. If the actual figures are higher, the GBP can increase. However, the situation with Brexit plays a more important role for the British currency right now.
✅ Federal Open Market Committee meeting minutes (Wed, 21:00 MT) – while the experts do not expect a new rate hike this month, there are projections of another rate hike in December 2018. During the meeting, they will tell about the reasons for the previous decision and we can anticipate clues on the future rate hike. Recent talks about the "neutral rate" and Trump’s criticism of the Fed's policy make this meeting even more important for the USD.
✅ The Australian unemployment rate and employment change (Thu, 3:30 MT) – the level of employed persons is expected to increase by 15200 people in September. In its turn, the unemployment rate is forecast to stay at the last month level of 5.3%.
In addition:
🚧 The EU Brexit summit is scheduled on Wednesday. During the summit dinner, the countries can reach a highly expected agreement. The solution on the Irish border backstop is still unclear and its outcome can affect the GBP.
⛽ Saudi Arabia is planning to adjust countermeasures against the US sanctions, which include oil.
🇩🇪 In Germany, Angela Merkel's sister party has suffered huge losses during Bavaria's state elections.
Are you ready for this week❓
Here we present you the 5 MOST IMPORTANT things to follow from the #ECONOMICCALENDAR this week!
✅ The US retail and core retail data (Mon 15:30 MT) - the September figures are expected to increase by 0.4% and by 0.3% correspondingly. The actual data for the last months came out lower than the expectations. Will it happen this month? Let's wait.
✅ New Zealand quarter CPI (Tue, 12:45 MT) – the forecasts for this indicator of inflation are quite optimistic due to the higher oil prices. According to analysts, it increased to 1.7% in the 3rd quarter. If the actual data beat the expectations, the kiwi will increase. For now, the inflation remains below the Reserve bank of New Zealand's target of 2%, so there is no chance the bank will make a rate hike any time soon.
✅ British CPI (Wed, 11:30 MT) – The level of annual UK consumer inflation is expected to reach 2.6%. If the actual figures are higher, the GBP can increase. However, the situation with Brexit plays a more important role for the British currency right now.
✅ Federal Open Market Committee meeting minutes (Wed, 21:00 MT) – while the experts do not expect a new rate hike this month, there are projections of another rate hike in December 2018. During the meeting, they will tell about the reasons for the previous decision and we can anticipate clues on the future rate hike. Recent talks about the "neutral rate" and Trump’s criticism of the Fed's policy make this meeting even more important for the USD.
✅ The Australian unemployment rate and employment change (Thu, 3:30 MT) – the level of employed persons is expected to increase by 15200 people in September. In its turn, the unemployment rate is forecast to stay at the last month level of 5.3%.
In addition:
🚧 The EU Brexit summit is scheduled on Wednesday. During the summit dinner, the countries can reach a highly expected agreement. The solution on the Irish border backstop is still unclear and its outcome can affect the GBP.
⛽ Saudi Arabia is planning to adjust countermeasures against the US sanctions, which include oil.
🇩🇪 In Germany, Angela Merkel's sister party has suffered huge losses during Bavaria's state elections.
What will be the main market movers for this week?
Will the USD recover?
✅Watch this week's economic outlook with FBS analyst Darya Bobrova!
Will the USD recover?
✅Watch this week's economic outlook with FBS analyst Darya Bobrova!
YouTube
Weekly Forex Outlook: October 15-19, 2018
https://fbs.com/ FBS is an international brokerage house providing top quality financial and investment services all over the world. Find more Forex market a...
Hello, traders!
📝 During today's meeting minutes of the Reserve bank of Australia, there were no hawkish statements made. There are no expectations of a rate hike in a near future.
Now let's look at the trade signals from FBS analysts!
AUD/USD: SELL — 0.7170; SL — 0.7190; TP1 — 0.7080; TP2 — 0.7010
USD/JPY: BUY — 111.50; SL — 111.30; TP1 — 112.50; TP2 — 113.00
For more signals follow our website:
📝 During today's meeting minutes of the Reserve bank of Australia, there were no hawkish statements made. There are no expectations of a rate hike in a near future.
Now let's look at the trade signals from FBS analysts!
AUD/USD: SELL — 0.7170; SL — 0.7190; TP1 — 0.7080; TP2 — 0.7010
USD/JPY: BUY — 111.50; SL — 111.30; TP1 — 112.50; TP2 — 113.00
For more signals follow our website:
😍 We're 3000! Thank you!
This is such a pleasure to know how many people follow our analytics every day. We are happy to see such a growing community of enthusiasts.
Stay tuned for more daily updates!
✳
FBS Analytics Department
This is such a pleasure to know how many people follow our analytics every day. We are happy to see such a growing community of enthusiasts.
Stay tuned for more daily updates!
✳
FBS Analytics Department
🇬🇧 The EU Brexit summit starts tomorrow. There are still uncertainties and the politicians don’t try to make them clear. Let’s look at the latest opinions from the politicians from different sides:
💭 UK Prime Minister Theresa May: “Brexit negotiations reached the final stage. Progress on the Northern Irish border issue is made. Terms of the exit are clear”.
💭 French President Emmanuel Macron: “We’re ready for all scenarios”
💭 German government official: “A swift Brexit deal is in the interest of business and regular people”
💭 Austria's EU minister: “It’s too early for a compromise”
💭 Senior EU official: “The EU is not in a place where we wanted to be on Brexit at the moment”
Will the sides reach a final agreement tomorrow? If they are, the GBP will be supported.
Share your opinion!
💭 UK Prime Minister Theresa May: “Brexit negotiations reached the final stage. Progress on the Northern Irish border issue is made. Terms of the exit are clear”.
💭 French President Emmanuel Macron: “We’re ready for all scenarios”
💭 German government official: “A swift Brexit deal is in the interest of business and regular people”
💭 Austria's EU minister: “It’s too early for a compromise”
💭 Senior EU official: “The EU is not in a place where we wanted to be on Brexit at the moment”
Will the sides reach a final agreement tomorrow? If they are, the GBP will be supported.
Share your opinion!
Good morning, traders!
🕦 Do not forget that the level of CPI for Great Britain will be released today at 11:30 in the morning MT time. This is the leading indicator for every economy as it reflects the inflation level. The central bank forms its monetary policy according to this level.
📊 Analysts expect it to reach 2.6%. If the actual level outperforms the forecast, the GBP will rise.
✅ Don't forget to check our #ECONOMICCALENDAR regularly to follow the most important currency impacts!
🕦 Do not forget that the level of CPI for Great Britain will be released today at 11:30 in the morning MT time. This is the leading indicator for every economy as it reflects the inflation level. The central bank forms its monetary policy according to this level.
📊 Analysts expect it to reach 2.6%. If the actual level outperforms the forecast, the GBP will rise.
✅ Don't forget to check our #ECONOMICCALENDAR regularly to follow the most important currency impacts!
#TRADERSLANG
To go bottom fishing 🐟 - describes the strategy of investing in assets when it is believed the market has reached bottom after a major decline. A trader believes that the reason for a drop of an asset lies in panic selling, rather than a serious issue, and it will recover soon. 📈
Did you know this phrase?
To go bottom fishing 🐟 - describes the strategy of investing in assets when it is believed the market has reached bottom after a major decline. A trader believes that the reason for a drop of an asset lies in panic selling, rather than a serious issue, and it will recover soon. 📈
Did you know this phrase?
#ECONOMICCALENDAR
Good morning, traders! ✳
🚧 Yesterday in Brussels the EU leaders declined the plans for the November summit as not enough progress on Brexit was made. Despite the British Prime Minister Theresa May's arguments, the EU started to prepare for a "hard" or "no-deal" Brexit.
📉 As a result, the GBP fell.
🇬🇧Today's focus is again on the British currency.
📊 The level of retail sales (releases at 11:30 MT) is expected to fall by 0.4%.
The anticipation of this decline also pushes the British pound down. However, if the actual level is higher than the forecast, it will bring positivity to the GBP bulls.
Let's look at the forecasts of senior banks:
💭Nomura - " retail sales will fall"
💭TDS Securities - "retail sales will gain by 0.2%"
💭Shanghai Banking Corporation - "retail sales are likely to fall"
What do you think? Will the British retail sales in September outperform the negative forecasts?
Good morning, traders! ✳
🚧 Yesterday in Brussels the EU leaders declined the plans for the November summit as not enough progress on Brexit was made. Despite the British Prime Minister Theresa May's arguments, the EU started to prepare for a "hard" or "no-deal" Brexit.
📉 As a result, the GBP fell.
🇬🇧Today's focus is again on the British currency.
📊 The level of retail sales (releases at 11:30 MT) is expected to fall by 0.4%.
The anticipation of this decline also pushes the British pound down. However, if the actual level is higher than the forecast, it will bring positivity to the GBP bulls.
Let's look at the forecasts of senior banks:
💭Nomura - " retail sales will fall"
💭TDS Securities - "retail sales will gain by 0.2%"
💭Shanghai Banking Corporation - "retail sales are likely to fall"
What do you think? Will the British retail sales in September outperform the negative forecasts?
Forwarded from Forex HUB
Attention: trading schedule changes!
Very important information for our traders! FBS reminds you of a trading schedule change due to DST!
Starting from October 28th, 2018 Europe is setting the clocks back one hour. The MetaTrader time is set back one hour as well. Pay attention to this fact, because it affects the trading schedule.
Trading for XAUUSD, XAGUSD, Palladium, Platinum, WTI, BRN will open one hour earlier MT time. Please keep this fact in mind when planning your trading sessions.
And remember: whenever you have questions or concerns, please feel free to contact the FBS support team!
Very important information for our traders! FBS reminds you of a trading schedule change due to DST!
Starting from October 28th, 2018 Europe is setting the clocks back one hour. The MetaTrader time is set back one hour as well. Pay attention to this fact, because it affects the trading schedule.
Trading for XAUUSD, XAGUSD, Palladium, Platinum, WTI, BRN will open one hour earlier MT time. Please keep this fact in mind when planning your trading sessions.
And remember: whenever you have questions or concerns, please feel free to contact the FBS support team!
Weekly #CryptoNews
Carlos Tong, the Chairman of Hong Kong’s Securities and Futures Commission (SFC): “We do not think imposing a total ban on cryptocurrency trading platforms is necessarily the right approach, and it will not work in today’s internet world when trading can cross national boundaries.”
🚀On Wednesday, Bitcoin managed to test its September highs. An unexpected increase happened due to the problems with Bitfinex and Tether.
📉Tether or USDT was considered as a stablecoin which price has been held at $1 for a long period of time, dropped to $0.98.
🙇This resulted in panic among the investors and traders, who started to sell USDT and buy Bitcoin. It is interesting to know that USDT is supported by Bitfinex trading platform, which is facing bankruptcy right now.
🕛At the moment, Bitcoin is trading below the support at $6580 (50-day MA). The next support for the digital currency is at $6419. If any crypto manipulations occur Bitcoin can go up. In that case, the price can stick above $6580.
For more cryptonews visit our website
Carlos Tong, the Chairman of Hong Kong’s Securities and Futures Commission (SFC): “We do not think imposing a total ban on cryptocurrency trading platforms is necessarily the right approach, and it will not work in today’s internet world when trading can cross national boundaries.”
🚀On Wednesday, Bitcoin managed to test its September highs. An unexpected increase happened due to the problems with Bitfinex and Tether.
📉Tether or USDT was considered as a stablecoin which price has been held at $1 for a long period of time, dropped to $0.98.
🙇This resulted in panic among the investors and traders, who started to sell USDT and buy Bitcoin. It is interesting to know that USDT is supported by Bitfinex trading platform, which is facing bankruptcy right now.
🕛At the moment, Bitcoin is trading below the support at $6580 (50-day MA). The next support for the digital currency is at $6419. If any crypto manipulations occur Bitcoin can go up. In that case, the price can stick above $6580.
For more cryptonews visit our website