Bit-comment: Bitcoin has settled and tries to grow
Bitcoin settled around $7,100 and started to grow. Investors wanted to make sure that the sell impulse dried up before they started buying. Bitcoin rose by 5% in the last 24 hours and traded around $7,600. The technical indicators showed that the benchmark cryptocurrency was oversold.
https://fxpro.news/analysis-and-insight/bit-comment-bitcoin-has-settled-and-tries-to-grow-20191128/
Bitcoin settled around $7,100 and started to grow. Investors wanted to make sure that the sell impulse dried up before they started buying. Bitcoin rose by 5% in the last 24 hours and traded around $7,600. The technical indicators showed that the benchmark cryptocurrency was oversold.
https://fxpro.news/analysis-and-insight/bit-comment-bitcoin-has-settled-and-tries-to-grow-20191128/
FX: The dollar index retreated from 98.4 to 98.2 on the recovery in demand for risk. EURUSD still stuck at 1.1000. GBPUSD corrected to 1.2930 after a jump by 0.9% to 1.2950 after YouGov poll forecast the biggest majority for Conservatives in more than 30 years. Foreign exchange market volatility remains low, further suppressed by US holidays.
Stocks: Futures for S&P500 retreated from their historic high amid concern over China-US relations. EuroStoxx 50 loses 0.3%, retreating from 4-year peaks. MSCI World adds 0.2% over last 24h. The VIX volatility index grew from 11.45 to 11.75.
Commodities: Brent failed to gain a foothold above $63.0 after reports of US reserves and production growth. Gold tramples at $1457, near the lows of the month.
Crypto: Bitcoin corrected to $7450 after the jump from $6800 to $7600. The top 10 altcoins range from + 3.3% (XLM) to + 8.3% (TRX).
Stocks: Futures for S&P500 retreated from their historic high amid concern over China-US relations. EuroStoxx 50 loses 0.3%, retreating from 4-year peaks. MSCI World adds 0.2% over last 24h. The VIX volatility index grew from 11.45 to 11.75.
Commodities: Brent failed to gain a foothold above $63.0 after reports of US reserves and production growth. Gold tramples at $1457, near the lows of the month.
Crypto: Bitcoin corrected to $7450 after the jump from $6800 to $7600. The top 10 altcoins range from + 3.3% (XLM) to + 8.3% (TRX).
#WaveAnalysis
#Microsoft is expected to rise further toward the next resistance level 156.60
https://fxpro.news/market-snapshots/microsoft-wave-analysis-28-november-2019-20191128/
#Microsoft is expected to rise further toward the next resistance level 156.60
https://fxpro.news/market-snapshots/microsoft-wave-analysis-28-november-2019-20191128/
#WaveAnalysis
#CHFJPY is expected to rise further toward the next key resistance level 110.15
https://fxpro.news/market-snapshots/chfjpy-wave-analysis-28-november-2019-20191128/
#CHFJPY is expected to rise further toward the next key resistance level 110.15
https://fxpro.news/market-snapshots/chfjpy-wave-analysis-28-november-2019-20191128/
Wake-up calls from Asia pressured the markets
South Korea’s manufacturing sector lost 1.7% in October, with Japan’s monthly loss of 4.2%. These data should be considered not only as a signal of the weakness of these countries. They are vital exporters of equipment and goods for China and other Asian countries. These are early signs how much the world economy affected by trade disputes and this impact only gaining momentum.
Under these conditions, it is very remarkable to hear ideas that US stands out from the rest of the world with robust data and will gain when all others soften. This decoupling idea is dangerous because it is a repetition of a common 12-years old misconception.
https://fxpro.news/daily-forex-outlook/wake-up-calls-from-asia-pressured-the-markets-20191129/
South Korea’s manufacturing sector lost 1.7% in October, with Japan’s monthly loss of 4.2%. These data should be considered not only as a signal of the weakness of these countries. They are vital exporters of equipment and goods for China and other Asian countries. These are early signs how much the world economy affected by trade disputes and this impact only gaining momentum.
Under these conditions, it is very remarkable to hear ideas that US stands out from the rest of the world with robust data and will gain when all others soften. This decoupling idea is dangerous because it is a repetition of a common 12-years old misconception.
https://fxpro.news/daily-forex-outlook/wake-up-calls-from-asia-pressured-the-markets-20191129/
Bitcoin’s bounce bumped into the resistance
The end of the week turned out to be much more favourable for the crypto market than its beginning. Bitcoin was able to return from the area below $7,000 and clings to levels around $7,500. In June and October, this area was a significant support that now may become serious resistance.
https://fxpro.news/analysis-and-insight/bitcoins-bounce-bumped-into-the-resistance-20191129/
The end of the week turned out to be much more favourable for the crypto market than its beginning. Bitcoin was able to return from the area below $7,000 and clings to levels around $7,500. In June and October, this area was a significant support that now may become serious resistance.
https://fxpro.news/analysis-and-insight/bitcoins-bounce-bumped-into-the-resistance-20191129/
#WaveAnalysis
#Alibaba is expected to rise further toward the next resistance level 205.00
https://fxpro.news/market-snapshots/alibaba-wave-analysis-29-november-2019-20191129/
#Alibaba is expected to rise further toward the next resistance level 205.00
https://fxpro.news/market-snapshots/alibaba-wave-analysis-29-november-2019-20191129/
#WaveAnalysis
#GBPAUD is expected to fall further toward the next key support level 1.8900
https://fxpro.news/market-snapshots/gbpaud-wave-analysis-29-november-2019-20191129/
#GBPAUD is expected to fall further toward the next key support level 1.8900
https://fxpro.news/market-snapshots/gbpaud-wave-analysis-29-november-2019-20191129/
Markets wait for the data to take a next step
This week the focus will be on Friday’s US employment data. However, markets will be monitoring secondary indicators during the week to assess better labour market trends in the US, which is now expected to increase employment by 190K.
Markets are close to pricing the fact that the lowest point of decline is already behind, as the easing of monetary policy is gradually bearing fruit. This seen in the upward reversal of business activity indices in the previous months, first in the US, then in China (see graph) and Europe.
https://fxpro.news/daily-forex-outlook/markets-wait-for-the-data-to-take-an-next-step-20191202/
This week the focus will be on Friday’s US employment data. However, markets will be monitoring secondary indicators during the week to assess better labour market trends in the US, which is now expected to increase employment by 190K.
Markets are close to pricing the fact that the lowest point of decline is already behind, as the easing of monetary policy is gradually bearing fruit. This seen in the upward reversal of business activity indices in the previous months, first in the US, then in China (see graph) and Europe.
https://fxpro.news/daily-forex-outlook/markets-wait-for-the-data-to-take-an-next-step-20191202/
Bitcoin’s decline not sparked buyers interest yet
Bitcoin experienced significant price fluctuations during the weekend, jumped to $7,800 on November 30. However, by Monday morning the benchmark cryptocurrency had already turned down again and is traded at around $7,200 on reduced trading volumes.
At the moment, the price is out of investors’ focus as it may be too high for buyers and too low for sellers.
https://fxpro.news/analysis-and-insight/bit-comment-bitcoins-decline-not-sparked-buyers-interest-20191202/
Bitcoin experienced significant price fluctuations during the weekend, jumped to $7,800 on November 30. However, by Monday morning the benchmark cryptocurrency had already turned down again and is traded at around $7,200 on reduced trading volumes.
At the moment, the price is out of investors’ focus as it may be too high for buyers and too low for sellers.
https://fxpro.news/analysis-and-insight/bit-comment-bitcoins-decline-not-sparked-buyers-interest-20191202/
#WaveAnalysis
#NZDCAD is expected to rise further toward the next resistance level 0,8700
https://fxpro.news/market-snapshots/nzdcad-wave-analysis-02-december-2019-20191202/
#NZDCAD is expected to rise further toward the next resistance level 0,8700
https://fxpro.news/market-snapshots/nzdcad-wave-analysis-02-december-2019-20191202/
#WaveAnalysis
#WTI is expected to rise further toward the next resistance level 58,00
https://fxpro.news/market-snapshots/wti-wave-analysis-02-december-2019-20191202/
#WTI is expected to rise further toward the next resistance level 58,00
https://fxpro.news/market-snapshots/wti-wave-analysis-02-december-2019-20191202/
FX: The dollar retreats after a failed growth attempt on Friday. DXY dropped from 98.5 to 98.14. EURUSD support increases after the drop below 1.1000 last week to 1.1030 now. GBPUSD recovered to 1.2930 after decline to 1.2900 in the opening after poll showed tighter race between Conservative and Labor parties.
Stocks: Futures for S&P500 declined by the start of trading in the US, despite updating highs within the day. EuroStoxx 50 loses 1.1% on concern around progress in trade negotiations. MSCI World has almost unchanged from the start of the day. The VIX volatility index jumped from 11.75 to 12.9.
Commodities: Brent recovered 2% to 61.50 after a 5% decline at the end of trading on Friday. Gold trades near 1460, slightly up from monthly lows.
Crypto: Bitcoin is at $7200 after the jump to $ 7800 this weekend. The top 10 altcoins range from -4.3% (XLM) to -1.0% (XMR).
Stocks: Futures for S&P500 declined by the start of trading in the US, despite updating highs within the day. EuroStoxx 50 loses 1.1% on concern around progress in trade negotiations. MSCI World has almost unchanged from the start of the day. The VIX volatility index jumped from 11.75 to 12.9.
Commodities: Brent recovered 2% to 61.50 after a 5% decline at the end of trading on Friday. Gold trades near 1460, slightly up from monthly lows.
Crypto: Bitcoin is at $7200 after the jump to $ 7800 this weekend. The top 10 altcoins range from -4.3% (XLM) to -1.0% (XMR).
This week is promising to be a big one for Crude Oil with OPEC+ and S.Aramco IPO taking place. Do you think its price will go...
Anonymous Poll
57%
down
43%
up
Trade wars and weaker USD went to the agenda
Trump recalled once again that trade wars are far from over. Over the past 24 hours, the battlefront expands dramatically. S&P500 dropped 0.8% on Monday, to 11-day lows; EuroStoxx 50 collapsed more than 2% after updated 4.5-year highs earlier. Markets negatively reacted to the introduction of tariffs.
Bad news not stops here, as closely monitored Manufacturing ISM index decreased instead of the expected growth. This news came at the wrong time, as it crossed out the extensive speculation that the economy has passed the lowest point, reacting to monetary stimulus.
The dollar reacted extremely nervously to new calls for the Fed to devalue the dollar and remained under pressure after the publication of weak production data. As a result, the dollar index declined by 0.5%, which can be considered a big move after a long lull.
https://fxpro.news/daily-forex-outlook/trade-wars-and-weaker-usd-is-on-the-agenda-again-20191203/
Trump recalled once again that trade wars are far from over. Over the past 24 hours, the battlefront expands dramatically. S&P500 dropped 0.8% on Monday, to 11-day lows; EuroStoxx 50 collapsed more than 2% after updated 4.5-year highs earlier. Markets negatively reacted to the introduction of tariffs.
Bad news not stops here, as closely monitored Manufacturing ISM index decreased instead of the expected growth. This news came at the wrong time, as it crossed out the extensive speculation that the economy has passed the lowest point, reacting to monetary stimulus.
The dollar reacted extremely nervously to new calls for the Fed to devalue the dollar and remained under pressure after the publication of weak production data. As a result, the dollar index declined by 0.5%, which can be considered a big move after a long lull.
https://fxpro.news/daily-forex-outlook/trade-wars-and-weaker-usd-is-on-the-agenda-again-20191203/
FX: The decline in the dollar accelerated after a new round of pressure on the Fed by Trump and weak US production data. DXY for the day fell by 0.5% to 97.7. EURUSD on Monday received a healthy boost to growth after touching 1.1000, trading at 1.1080 now. GBPUSD has returned to the 7-month highs area to 1.2980. AUDUSD gained 1.4% so far this week as metal tariffs for Argentina and Brazil are on hand for Australian mining companies.
Stocks: Futures for S&P500 are slightly up after the index fell 0.9% on Monday. A slight rebound after decline also observed in EuroStoxx 50 (+ 0.25%) after the 2.2% collapse. MSCI World lost 0.9% over last 24h. The VIX volatility index jumped from 12.9 to 14.63.
Commodities: Brent stabilized near $ 61.00, failing to develop growth. Gold rose to $ 1,466 following rising market volatility.
Crypto: Bitcoin traded near $7200 on Tuesday morning, returned to decline after an unsuccessful growth attempt. The top-10 altcoins range from -3.4% (BSV) to -1.0% (XRP).
Stocks: Futures for S&P500 are slightly up after the index fell 0.9% on Monday. A slight rebound after decline also observed in EuroStoxx 50 (+ 0.25%) after the 2.2% collapse. MSCI World lost 0.9% over last 24h. The VIX volatility index jumped from 12.9 to 14.63.
Commodities: Brent stabilized near $ 61.00, failing to develop growth. Gold rose to $ 1,466 following rising market volatility.
Crypto: Bitcoin traded near $7200 on Tuesday morning, returned to decline after an unsuccessful growth attempt. The top-10 altcoins range from -3.4% (BSV) to -1.0% (XRP).
How will halving affect the Bitcoin price?
The end of the year for Bitcoin isn’t at all the way crypto enthusiasts expected it to be. Although the benchmark cryptocurrency is almost 90% higher than it was a year ago, market participants do not want to believe that this is the highest point of the growth that halving can provide.
https://fxpro.news/analysis-and-insight/how-will-halving-affect-the-bitcoin-price-20191203/
The end of the year for Bitcoin isn’t at all the way crypto enthusiasts expected it to be. Although the benchmark cryptocurrency is almost 90% higher than it was a year ago, market participants do not want to believe that this is the highest point of the growth that halving can provide.
https://fxpro.news/analysis-and-insight/how-will-halving-affect-the-bitcoin-price-20191203/
Trump pressed the markets. Day 2
US President Trump's new announcement boosted market sales in addition to the recent introduction of tariffs on imports from Brazil and Argentina.
Today Trump suddenly stated that he did not have a deadline for a trade deal with China, and that it might be better to wait until the 2020 election results before concluding a trade deal.
The markets read behind the lines that the trade deal is far from done, and the arguments put forward are nothing more than an attempt to save the President's face.
Markets reaction to this news was typical. Growth of CHF, JPY has intensified as both currencies add more than 1% to USD this week. The Chinese yuan got hit, dropped to 7.06 per dollar, the lowest level in 5 weeks.
Outside of the "safe-haven", the dollar is experiencing an upward move, since it is more suitable for defining a 'safe' than the emerging currencies or euro, which are severely affected by the slowdown in world trade in general and China in particular.
US President Trump's new announcement boosted market sales in addition to the recent introduction of tariffs on imports from Brazil and Argentina.
Today Trump suddenly stated that he did not have a deadline for a trade deal with China, and that it might be better to wait until the 2020 election results before concluding a trade deal.
The markets read behind the lines that the trade deal is far from done, and the arguments put forward are nothing more than an attempt to save the President's face.
Markets reaction to this news was typical. Growth of CHF, JPY has intensified as both currencies add more than 1% to USD this week. The Chinese yuan got hit, dropped to 7.06 per dollar, the lowest level in 5 weeks.
Outside of the "safe-haven", the dollar is experiencing an upward move, since it is more suitable for defining a 'safe' than the emerging currencies or euro, which are severely affected by the slowdown in world trade in general and China in particular.
Insurance back in vogue as volatility returns
Volatility returns to the financial markets. In the previous two days, investors had to return to the expectation that trade wars may widen and deepen in the coming months. Hopes for a soon-to-be-signed phase one trade deal began to melt after Trump’s words that it might have been better to make a deal with China after the 2020 elections. Later, the Ministry of Commerce also made it clear that the priority was the essence of the agreement, not the speed of its conclusion. Isn’t this an eternal trade war?
This news caused a typical market reaction. Indices of implied volatility jumped, key stock indices turned down, so-called safe currencies and gold enjoyed increasing demand. Now more details and where it can lead.
https://fxpro.news/daily-forex-outlook/insurance-back-in-vogue-as-volatility-returns-20191204/
Volatility returns to the financial markets. In the previous two days, investors had to return to the expectation that trade wars may widen and deepen in the coming months. Hopes for a soon-to-be-signed phase one trade deal began to melt after Trump’s words that it might have been better to make a deal with China after the 2020 elections. Later, the Ministry of Commerce also made it clear that the priority was the essence of the agreement, not the speed of its conclusion. Isn’t this an eternal trade war?
This news caused a typical market reaction. Indices of implied volatility jumped, key stock indices turned down, so-called safe currencies and gold enjoyed increasing demand. Now more details and where it can lead.
https://fxpro.news/daily-forex-outlook/insurance-back-in-vogue-as-volatility-returns-20191204/
Bit-comment: Resumed decline
Bitcoin has lost almost 2% in the last 24 hours and trades near $7,150. The inability to develop a confident rebound for the BTC practically always ended in a decline. The altcoin market demonstrates the same dynamics.
https://fxpro.news/daily-forex-outlook/bit-comment-resumed-decline-20191204/
Bitcoin has lost almost 2% in the last 24 hours and trades near $7,150. The inability to develop a confident rebound for the BTC practically always ended in a decline. The altcoin market demonstrates the same dynamics.
https://fxpro.news/daily-forex-outlook/bit-comment-resumed-decline-20191204/
#WaveAnalysis
#Bank of America is expected to rise further toward the next resistance level 33.65
https://fxpro.news/market-snapshots/bank-of-america-wave-analysis-04-december-2019-20191204/
#Bank of America is expected to rise further toward the next resistance level 33.65
https://fxpro.news/market-snapshots/bank-of-america-wave-analysis-04-december-2019-20191204/