Author Archive for InvestMacro – Page 148

The Analytical Overview of the Main Currency Pairs on 2019.10.29

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10804
  • Open: 1.11003
  • % chg. over the last day: +0.14
  • Day’s range: 1.10889 – 1.11025
  • 52 wk range: 1.0884 – 1.1623

An ambiguous technical picture has developed on the EUR/USD currency pair. A trading instrument is consolidating. At the moment, the local support and resistance levels are 1.10750 and 1.11050, respectively. Investors expect up-to-date information regarding trade negotiations between the US and China, as well as the Fed meeting. EUR/USD quotes have the potential to further decline. Today, financial market participants will evaluate important economic reports from the United States. We recommend opening positions from key levels.

The Economic News Feed for 29.10.2019:

  • – Consumer Confidence Index by CB (US) – 16:00 (GMT+2:00);
  • – Incomplete Real Estate Sales Index (US) – 16:00 (GMT+2:00);
EUR/USD

Indicators do not give accurate signals: the price crossed 50 MA.

The MACD histogram is close to 0.

The Stochastic Oscillator is located near the oversold zone, the %K line is below the %D line, which gives a weak signal to sell EUR/USD.

Trading recommendations
  • Support levels: 1.10750, 1.10450, 1.10200
  • Resistance levels: 1.11050, 1.11250, 1.11500

If the price consolidates below the level of 1.10750, expect a further drop toward 1.10450-1.10300.

Alternatively, the quotes could grow toward 1.10450-1.10300.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28207
  • Open: 1.28601
  • % chg. over the last day: +0.22
  • Day’s range: 1.28350 – 1.28608
  • 52 wk range: 1.1959 – 1.3385

The GBP/USD currency pair continues to consolidate. The technical pattern is ambiguous. At the moment, the local support and resistance levels are 1.28100 and 1.28700, respectively. Investors are waiting for new information regarding the Brexit process. British Prime Minister Boris Johnson formally agreed to extend the country’s withdrawal from the Union until January 31, 2020. A trading instrument can descend further. Open positions from the key levels.

The Economic News Feed for 29.10.2019 is calm.

GBP/USD

Indicators do not give accurate signals: the price crossed 50 MA and 100 MA.

The MACD histogram is getting closer to 0.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line which indicates a bullish sentiment.

Trading recommendations
  • Support levels: 1.28100, 1.27600, 1.27000
  • Resistance levels: 1.28700, 1.29450, 1.30100

If the price consolidates below 1,28100, expect GBP/USD quotes to fall toward 1.27600-1.27400.

Alternatively, the quotes could grow toward 1.29200-1.29400.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30606
  • Open: 1.30549
  • % chg. over the last day: -0.10
  • Day’s range: 1.30517 – 1.30599
  • 52 wk range: 1.2727 – 1.3664

Looney is still in lateral movement. There is no defined trend. At the moment, USD/CAD quotes are consolidating near the support level of 1.30500. 1.30750 acts as local resistance. CAD has potential for further growth against the USD. Pay attention to economic releases from the United States, as well as the dynamics of oil prices. Open positions from key levels.

The Economic News Feed for 29.10.2019 is calm.

USD/CAD

Indicators do not give accurate signals: the price is testing 50 MA and 100 MA.

The MACD histogram has moved into the negative zone, indicating a bearish sentiment.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which gives a signal to sell USD/CAD.

Trading recommendations
  • Support levels: 1.30500, 1.30200, 1.30000
  • Resistance levels: 1.30750, 1.31000, 1.31200

If the price consolidates below the support level of 1.30500, expect the quotes to drop toward 1.30200-1.30000.

Alternatively, the quotes could grow toward 1.31000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.670
  • Open: 108.982
  • % chg. over the last day: +0.22
  • Day’s range: 108.936 – 109.068
  • 52 wk range: 104.97 – 114.56

The USD/JPY currency pair has moved up and updated local highs. The USD/JPY quotes reached a round level of 109,000. The 108.850 is already a mirror support. Currently, the currency pair is consolidating. Investors expect important economic releases from the United States. The trading instrument has the potential for further growth. We recommend opening positions from key levels.

The Economic News Feed for 29.10.2019 is calm.

USD/JPY

The price fixed above 50 MA and 100 MA, which signals the bullish mood.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/JPY.

The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 108.850, 108.700, 108.500
  • Resistance levels: 109.050, 109.300, 109.500

If the price consolidates above 109.050, expect further growth toward 109.300-109.400.

Alternatively, the quotes could fall toward 108.700-108.500.

by JustForex

Brexit Is Extended. Investors Expect the Fed Meeting

by JustForex

The US dollar is being traded without clear dynamics against a basket of currency majors. The dollar index (#DX) closed yesterday’s trading session in the red zone (-0.09%). Investors still follow the US-China trade agreement. The tension between two countries eased after the Office of the US Trade Representative said the US was considering extending some tariff exclusions on $34 billion of imports from China. Also, financial market participants took a wait-and-see attitude before the Fed meeting.

The British pound has been growing after it became known that British Prime Minister Boris Johnson officially agreed to delay Brexit until January 31, 2020. Surely, Johnson did not want to allow the delay and still believe that it will harm the UK. Therefore, the head of the European Council, Donald Tusk, states the issue is a “flextension”. That is, the country will be able to exit the EU before the deadline if Johnson manages to convince the parliament. EU leaders also approved the Brexit extension from October 31, 2019, to January 31, 2020.

The “black gold” prices are declining. Currently, futures for the WTI crude oil are testing the $55.20 mark per barrel. At 22:30 (GMT+2:00), API weekly crude stock will be published.

Market Indicators

Yesterday, there was the bullish sentiment in the US stock markets: #SPY (+0.56%), #DIA (+0.45%), #QQQ (+0.99%).

The 10-year US government bonds yield has moved away from local highs. At the moment, the indicator is at the level of 1.82-1.83%.

The Economic News Feed for 29.10.2019:
  • – CB consumer confidence index in the US at 16:00 (GMT+2:00);
  • – Pending home sales index in the US at 16:00 (GMT+2:00).

by JustForex

EURUSD: bears poised to attack

By Alpari.com

On Monday the 28th of October, trading on the euro closed up. This was probably a technical correction following Friday’s drop. This correction was partly the result of traders adjusting their positions ahead of the FOMC meeting.

European Council President Donald Tusk announced that the EU27 have approved a Brexit extension to the 31st of January. Today, this decision should be confirmed at government level in each member state. Is this good? No, because this is now the third time the Brexit date has been moved. The fewer delays we get, the quicker the UK will exit the EU, and deferring the exit date means that the uncertainty continues.

Day’s news (GMT+3):

  • 10:45 France: consumer confidence (Oct).
  • 12:30 UK: net lending to individuals (Sep), M4 money supply (Sep), mortgage approvals (Sep).
  • 16:00 US: S&P/Case-Shiller home price indices (Aug).
  • 17:00 US: consumer confidence (Oct), pending home sales (Sep).

EURUSD H1Current situation:

The pair moved as predicted, although with a slight divergence. The correction allowed the indicators to unload, and now the pair has its sights set on 1.1057. The pair is currently trading at 1.1090. The euro should gather some downwards pace when the rate drops below 1.1085. There are some divergences between timeframes, so we should get a small bounce from the trend line.

The FOMC is holding a meeting this week. The US regulator is expected to slash interest rates by 25 base points for the third time this year. The probability of this happening is put at 94.1%.

By Alpari.com

Web Scraping with Scrapy: Advanced Examples

By Zac Clancy for Kite.com

Table of Contents

  • Introduction to Web Scraping
  • Scrapy concepts
  • Reddit-less front page
  • Extracting amazon price data
  • Considerations at scale

Introduction to web scraping

Web scraping is one of the tools at a developer’s disposal when looking to gather data from the internet. While consuming data via an API has become commonplace, most of the websites online don’t have an API for delivering data to consumers. In order to access the data they’re looking for, web scrapers and crawlers read a website’s pages and feeds, analyzing the site’s structure and markup language for clues. Generally speaking, information collected from scraping is fed into other programs for validation, cleaning, and input into a datastore or its fed onto other processes such as natural language processing (NLP) toolchains or machine learning (ML) models. There are a few Python packages we could use to illustrate with, but we’ll focus on Scrapy for these examples. Scrapy makes it very easy for us to quickly prototype and develop web scrapers with Python.

Scrapy concepts

Before we start looking at specific examples and use cases, let’s brush up a bit on Scrapy and how it works.

Spiders: Scrapy uses Spiders to define how a site (or a bunch of sites) should be scraped for information. Scrapy lets us determine how we want the spider to crawl, what information we want to extract, and how we can extract it. Specifically, Spiders are Python classes where we’ll put all of our custom logic and behavior.

import scrapy

class NewsSpider(scrapy.Spider):
	name = 'news'
	... 

Selectors: Selectors are Scrapy’s mechanisms for finding data within the website’s pages. They’re called selectors because they provide an interface for “selecting” certain parts of the HTML page, and these selectors can be in either CSS or XPath expressions.

Items: Items are the data that is extracted from selectors in a common data model. Since our goal is a structured result from unstructured inputs, Scrapy provides an Item class which we can use to define how our scraped data should be structured and what fields it should have.

import scrapy

class Article(scrapy.Item):
	headline = scrapy.Field()
	...

Reddit-less front page

Suppose we love the images posted to Reddit, but don’t want any of the comments or self posts. We can use Scrapy to make a Reddit Spider that will fetch all the photos from the front page and put them on our own HTML page which we can then browse instead of Reddit.

To start, we’ll create a RedditSpider which we can use traverse the front page and handle custom behavior.

import scrapy

class RedditSpider(scrapy.Spider):
	name = 'reddit'
	start_urls = [
    	    'https://www.reddit.com'
	]

Above, we’ve defined a RedditSpider, inheriting Scrapy’s Spider. We’ve named it reddit and have populated the class’ start_urls attribute with a URL to Reddit from which we’ll extract the images.

At this point, we’ll need to begin defining our parsing logic. We need to figure out an expression that the RedditSpider can use to determine whether it’s found an image. If we look at Reddit’s robots.txt file, we can see that our spider can’t crawl any comment pages without being in violation of the robots.txt file, so we’ll need to grab our image URLs without following through to the comment pages.

By looking at Reddit, we can see that external links are included on the homepage directly next to the post’s title. We’ll update RedditSpider to include a parser to grab this URL. Reddit includes the external URL as a link on the page, so we should be able to just loop through the links on the page and find URLs that are for images.

class RedditSpider(scrapy.Spider):
    ...
    def parse(self, response):
       links = response.xpath('//a/@href')
    	 for link in links:
           ...

In a parse method on our RedditSpider class, I’ve started to define how we’ll be parsing our response for results. To start, we grab all of the href attributes from the page’s links using a basic XPath selector. Now that we’re enumerating the page’s links, we can start to analyze the links for images.

def parse(self, response):
    links = response.xpath('//a/@href')
    for link in links:
        # Extract the URL text from the element
        url = link.get()
        # Check if the URL contains an image extension
        if any(extension in url for extension in ['.jpg', '.gif', '.png']):
            ...

To actually access the text information from the link’s href attribute, we use Scrapy’s .get() function which will return the link destination as a string. Next, we check to see if the URL contains an image file extension. We use Python’s any() built-in function for this. This isn’t all-encompassing for all image file extensions, but it’s a start. From here we can push our images into a local HTML file for viewing.

def parse(self, response):
    links = response.xpath('//img/@src')
    html = ''

    for link in links:
        # Extract the URL text from the element
        url = link.get()
        # Check if the URL contains an image extension
        if any(extension in url for extension in ['.jpg', '.gif', '.png']):
            html += '''
            < a href="{url}" target="_blank">
                < img src="{url}" height="33%" width="33%" />
            < /a>
            '''.format(url=url)

    	# Open an HTML file, save the results
    	    with open('frontpage.html', 'a') as page:
            page.write(html)
    	    # Close the file
    	    page.close()

To start, we begin collecting the HTML file contents as a string which will be written to a file called frontpage.html at the end of the process. You’ll notice that instead of pulling the image location from the ‘//a/@href/‘, we’ve updated our links selector to use the image’s src attribute: ‘//img/@src’. This will give us more consistent results, and select only images.

As our RedditSpider’s parser finds images it builds a link with a preview image and dumps the string to our html variable. Once we’ve collected all of the images and generated the HTML, we open the local HTML file (or create it) and overwrite it with our new HTML content before closing the file again with page.close(). If we run scrapy runspider reddit.py, we can see that this file is built properly and contains images from Reddit’s front page.

But, it looks like it contains all of the images from Reddit’s front page – not just user-posted content. Let’s update our parse command a bit to blacklist certain domains from our results.

If we look at frontpage.html, we can see that most of Reddit’s assets come from redditstatic.com and redditmedia.com. We’ll just filter those results out and retain everything else. With these updates, our RedditSpider class now looks like the below:

import scrapy

class RedditSpider(scrapy.Spider):
    name = 'reddit'
    start_urls = [
        'https://www.reddit.com'
    ]

    def parse(self, response):
        links = response.xpath('//img/@src')
    	  html = ''

    	  for link in links:
            # Extract the URL text from the element
        	url = link.get()
        	# Check if the URL contains an image extension
        	if any(extension in url for extension in ['.jpg', '.gif', '.png'])\
               and not any(domain in url for domain in ['redditstatic.com', 'redditmedia.com']):
                html += '''
                < a href="{url}" target="_blank">
                    < img src="{url}" height="33%" width="33%" />
                < /a>
                '''.format(url=url)

    	   # Open an HTML file, save the results
    	       with open('frontpage.html', 'w') as page:
               page.write(html)

    	   # Close the file
    	   page.close()

We’re simply adding our domain whitelist to an exclusionary any()expression. These statements could be tweaked to read from a separate configuration file, local database, or cache – if need be.

Extracting Amazon price data

If you’re running an ecommerce website, intelligence is key. With Scrapy we can easily automate the process of collecting information about our competitors, our market, or our listings.

For this task, we’ll extract pricing data from search listings on Amazon and use the results to provide some basic insights. If we visit Amazon’s search results page and inspect it, we notice that Amazon stores the price in a series of divs, most notably using a class called .a-offscreen. We can formulate a CSS selector that extracts the price off the page:

prices = response.css('.a-price .a-offscreen::text').getall()

With this CSS selector in mind, let’s build our AmazonSpider.

import scrapy

from re import sub
from decimal import Decimal


def convert_money(money):
	return Decimal(sub(r'[^\d.]', '', money))


class AmazonSpider(scrapy.Spider):
	name = 'amazon'
	start_urls = [
    	    'https://www.amazon.com/s?k=paint'
	]

	def parse(self, response):
    	    # Find the Amazon price element
    	    prices = response.css('.a-price .a-offscreen::text').getall()

    	    # Initialize some counters and stats objects
    	    stats = dict()
    	    values = []

    	    for price in prices:
        	  value = convert_money(price)
        	  values.append(value)

    	    # Sort our values before calculating
    	    values.sort()

    	    # Calculate price statistics
    	    stats['average_price'] = round(sum(values) / len(values), 2)
    	    stats['lowest_price'] = values[0]
    	    stats['highest_price'] = values[-1]
    	    Stats['total_prices'] = len(values)

    	    print(stats)

A few things to note about our AmazonSpider class: convert_money(): This helper simply converts strings formatted like ‘$45.67’ and casts them to a Python Decimal type which can be used for computations and avoids issues with locale by not including a ‘$’ anywhere in the regular expression. getall(): The .getall() function is a Scrapy function that works similar to the .get() function we used before, but this returns all the extracted values as a list which we can work with. Running the command scrapy runspider amazon.py in the project folder will dump output resembling the following:

{'average_price': Decimal('38.23'), 'lowest_price': Decimal('3.63'), 'highest_price': Decimal('689.95'), 'total_prices': 58}

It’s easy to imagine building a dashboard that allows you to store scraped values in a datastore and visualize data as you see fit.

Considerations at scale

As you build more web crawlers and you continue to follow more advanced scraping workflows you’ll likely notice a few things:

  1. Sites change, now more than ever.
  2. Getting consistent results across thousands of pages is tricky.
  3. Performance considerations can be crucial.

Sites change, now more than ever

On occasion, AliExpress for example, will return a login page rather than search listings. Sometimes Amazon will decide to raise a Captcha, or Twitter will return an error. While these errors can sometimes simply be flickers, others will require a complete re-architecture of your web scrapers. Nowadays, modern front-end frameworks are oftentimes pre-compiled for the browser which can mangle class names and ID strings, sometimes a designer or developer will change an HTML class name during a redesign. It’s important that our Scrapy crawlers are resilient, but keep in mind that changes will occur over time.

Getting consistent results across thousands of pages is tricky

Slight variations of user-inputted text can really add up. Think of all of the different spellings and capitalizations you may encounter in just usernames. Pre-processing text, normalizing text, and standardizing text before performing an action or storing the value is best practice before most NLP or ML software processes for best results.

Performance considerations can be crucial

You’ll want to make sure you’re operating at least moderately efficiently before attempting to process 10,000 websites from your laptop one night. As your dataset grows it becomes more and more costly to manipulate it in terms of memory or processing power. In a similar regard, you may want to extract the text from one news article at a time, rather than downloading all 10,000 articles at once. As we’ve seen in this tutorial, performing advanced scraping operations is actually quite easy using Scrapy’s framework. Some advanced next steps might include loading selectors from a database and scraping using very generic Spider classes, or by using proxies or modified user-agents to see if the HTML changes based on location or device type. Scraping in the real world becomes complicated because of all the edge cases, Scrapy provides an easy way to build this logic in Python.

This article originally appeared on Kite.com

 

 

Nominal New Highs Reached – Skilled Traders Should Still Be Cautious

By TheTechnicalTraders.com

The US Stock market rallied on Friday, October 25, on TESLA earnings crushing expectations as well as news that any positive US trade deal outcomes could see almost immediate removal of future tariffs that are scheduled to be implemented near the end of October.  This was enough for the markets to rally from the start of trading and continue to push higher until near Noon in NY.  After new highs were reached, the markets contracted a bit headed into the close.

Gold shot up early this morning before the news related to the US trade deal hit.  Our opinion is that this is a natural advancement in precious metals that is not new related or muted by some external factors.  Precious metals have been setting up a sideways FLAG formation for over 2 months and we believe the apex/breakout move is near.

Oil was somewhat flat to close out the week and closed trading near $56.63.  The past three days we have seen oil rise from the $53 level to the current price levels, but we believe oil is still fundamentally oversupplied and that price will continue to weaken over time.

The real question before all of us right now is will this new nominal high represent a new breakout bullish price trend heading into a US Presidential Election cycle, or is this more price rotation within a defined price range?

If you consider all the shifting aspects of the US political and economic landscape as well as the current geopolitical and economic factors, we believe any real breakout move will come as we get closer to November 2020 – not now.  We believe this is still price rotation and we believe the NQ is the likely cause of this new nominal price high on Friday.  Tesla crushed earnings and that set a positive tone for Friday’s trading.

Transportation Index Daily Chart

The TRAN, Transportation Index, is still trading near current resistance and has not shown any true new price high yet.  It will be interesting to see how the markets open up early next week and what news may drive a new price trend by then.

Mid-Cap Sector Daily Chart

The Mid-Cap has failed to rally to recent price highs which suggest this is not a broad market rally.  We would want to see more defined price advancement across all sectors and above recent price highs to call this a broad market rally/breakout

Pay attention to the new that originates this weekend.  We don’t believe a deal will be reached with regards to trade as quickly as some others may believe and we still believe the next 12+ months of the US Presidential election cycle will be full of surprises.  We may start to get more clarity of a true price trend after the New Year (2020).  Until then, we’re staying cautious of these price rotations and picking our trades.

I urge you visit my Wealth Building Newsletter and if you like what I offer, join me with the 1-year subscription to lock in the lowest rate possible and ride my coattails as I navigate these financial markets and build wealth while others lose nearly everything they own during the next financial crisis. Join Now and Get a Free 1oz Silver Bar!

I can tell you that huge moves are about to start unfolding not only in metals, or stocks but globally and some of these supercycles are going to last years. A gentleman by the name of Brad Matheny goes into great detail with his simple to understand charts and guide about this. His financial market research is one of a kind and a real eye-opener. PDF guide: 2020 Cycles – The Greatest Opportunity Of Your Lifetime

As a technical analysis and trader since 1997, I have been through a few bull/bear market cycles. I believe I have a good pulse on the market and timing key turning points for both short-term swing trading and long-term investment capital. The opportunities are massive/life-changing if handled properly.

Chris Vermeulen

TheTechnicalTraders.com

 

Stock Picking Strategies That Work

Do you know why a lot of people are intimidated at the thought of investing in the stock market? It’s because they are afraid to take risks. We all know that the economy has its fair share of ups and downs but despite its precariousness, one thing is certain, over the years, the market has remained to be an excellent medium to invest your money in. Sure, it comes with risks but as long as you know what you are doing it’s safe to say that the risks aren’t going to be that high.

If you have finally convinced yourself to invest, we assume that you at least have some basic knowledge on stock picking and stock concepts otherwise, there’s a pretty good chance you might find yourself buried in debt, God forbid. You see, there are virtually thousands of potential stocks, the question is, how will you know which of those to choose? You can’t possibly go through every income statement that’s out there, true, but you can take advantage of clever stock-picking strategies to stay safe.

The following are time-tested stock-picking strategies you can use to your advantage.

Know Your Goals

The first step that will help you select the stocks to invest is in knowing your goals. Some investors are concentrating more on capital appreciation, capital preservation and some are more focused on generating income. If you are interested in the income you should consider low-growth firms like those in the utility industry. However, if you are more interested in capital preservation you should consider investing in blue-chip corporations. Investors who are interested in capital appreciation should look for companies with various life cycle stages and market capitalization. When you’ve already set your goals you can actually combine these different strategies when picking stocks. One of the fundamental techniques in investing is narrowing your choices and when you’ve come up with your prospects you can then analyze their financial status.

Keep Your Eyes Peeled

Investing isn’t about intuition or gut feel it’s about knowing the facts. This is why you must keep your eyes peeled on current events in the market. Expand your knowledge and read as much as you can from online financial websites, magazines and blog posts. The more you know the more confident you will be on your decision. You don’t have to do it all day. A few readings a day is already enough. Who knows, maybe reading a random blog post could be your winning ticket to financial freedom. Research has become relatively easier nowadays because of the Internet. Plus you can read different points of view from various investment professionals that will help you come up with a decision.

Look for Companies

After determining your goals your next step is to find companies that you are interested in. First of all look at the ETFs and then evaluate their holdings and learn about their previous performance. Again, take advantage of search engine sites. A quick search can be done in seconds by typing “Industry Y ETF”. While you’re at it, make sure you are using a screener in filtering stocks. Filter stocks by choosing specific features such as sector and industry. You can also check out their dividend yield and their market capitalization to gain more information about the companies. Don’t ever stop researching because reading about stocks will get you a long way. Read about financial news releases, stock analysis and other blog posts that are relevant to the stock market.

Pay Attention To Corporate Presentations

When you’ve gathered important pieces of information your next step is to focus on investor presentations. Yes, they are not as detailed and as structured as financial statements but it will give you a sneak peek and a good grasp on how they are making money. It will also give you an idea about the company’s future based on their goals and the direction they are heading.

Takeaway

Although these strategies will not tell you what company to invest it, it will give you vital information that will jumpstart the process. It’s going to be rough and confusing but once you have all the information that you need, you can be confident about your decision because you know that it is based on numbers, facts, and researched figures.

Looking for Stock Picking Strategies That Work?

Yes, investing can be tough and scary, but it doesn’t really have to be as long as you take the time to learn the ropes. Trust us, eventually, you’ll be in charge and be in control of your finances. If you have been looking for more information about stocking picking strategies and want something that consistently works, contact us today. Gorilla Trades is here to give you the guidance you need and help you turn your investments into consistent gains.

By Taylor Wilman

 

Forex Technical Analysis & Forecast 28.10.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has reached the predicted target of the first descending wave at 1.1080; right now, it is consolidating. If later the price breaks this range to the upside, the market may start a new correction towards 1.1110; if to the downside – continue trading inside the downtrend to reach 1.1050.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues falling. Possibly, today the pair may reach 1.2770. After that, the instrument may start another correction towards 1.2760 and then resume trading downwards with the target at 1.2666.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF continues moving upwards. Today, the pair may reach 0.9961 and then start a new correction towards 0.950. Later, the market may form one more ascending structure with the target at 0.9980.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is moving upwards; it has broken 108.64. Possibly, the pair may continue forming this ascending wave towards 109.06. Later, the market may start a new correction to reach 108.65 and then resume trading inside the uptrend with the target at 109.30.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is forming the fifth descending structure. Today, the pair may reach 0.6787 and then start a new correction with the target at 0.6835.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is forming another descending structure. Today, the pair may fall to reach 63.47 and then start another correction towards 63.83. After that, the instrument may resume trading inside the downtrend with the predicted target at 63.23.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is consolidating around 1.3073 without any particular direction. Possibly, the pair may fall to reach 1.3044 and then form one more ascending structure towards 1.3077. Later, the market may start a new decline with the target at 1.3024.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has reached the upside target; right now, it is moving downwards with the target at 1479.27. After that, the instrument may start a new correction towards 1496.70 and then continue trading inside the downtrend with the target at 1450.00.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is moving upwards. Possibly, the pair may break 61.90 and then continue growing to reach 63.70. Later, the market may start another correction towards 62.00 and then resume trading upwards with the target at 64.84.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

After completing the ascending impulse at 8200.00, BTCUSD has broken it upwards; right now, it is still moving upwards with the target at 10900.00. Possibly, the pair may reach 9960.00 and then form a new consolidation range around it. After that, the instrument may break the range upwards to reach the above-mentioned target.

BITCOIN

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Fibonacci Retracements Analysis 28.10.2019 (GOLD, USDCHF)

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after completing the correctional downtrend at 76.0% fibo at 1473.60, XAUUSD is forming a new rising impulse, which is trying to break the local high at 1519.57. If the price breaks the high near this level, the instrument may continue growing towards 76.0% fibo at 1533.08 and then the key high at 1557.00.

GOLD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is slightly correcting after attempting to test the high. Possibly, the pullback may continue to reach 50.0% fibo.

GOLD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after finishing the descending correction at 50.0% fibo, USDCHF is trading upwards; this movement may be considered as a new correction to the upside. However, if the price fixes above 76.0% fibo and then the local high at 0.9996, the instrument may continue growing towards the key high at 1.0028. The key support is the low at 0.9840.

USDCHF_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, after testing 76.0% fibo, the pair has been forced to reverse by the divergence on MACD, which indicates a new decline towards 23.6%, 38.2%, and 50.0% fibo at 0.9931, 0.9914, and 0.9900 respectively.

USDCHF_H1

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Will Bitcoin hit $12,000 by the end of the year?

By George Prior

Bitcoin will experience a breakout and hit $12,000 before the end of the year if it remains above the $8,500 support this week, predicts the CEO of a $12bn financial giant.

The prediction from Nigel Green, the chief executive of deVere Group, one of the world’s largest independent financial advisory organisations, comes after the world’s largest cryptocurrency experienced a 20 per cent price surge over the weekend.

Mr Green comments: “Bitcoin has registered some impressive gains over the last 48 hours after being in a lull period in recent weeks.

“As of now, it has defied the so-called Death Cross – a bearish pattern that takes place when the 50-day moving average falls below the 200-day moving average.

“The $8,500 support has previously acted as a crucial support for Bitcoin. I believe that if Bitcoin bulls can keep the price above this over the next week, the world’s dominant cryptocurrency will experience a breakout and will hit $12,000 before the end of the year.”

He continues: “This latest surge in Bitcoin was triggered by China’s President Xi calling the adoption of blockchain – the technology on which cryptocurrencies run – an important breakthrough for independent innovation of core technologies.

“This is a clear signal that the leader of the world’s second-largest economy is moving towards embracing the technology – in which Bitcoin plays a vital part – and therefore taken as a positive boost for the whole digital currencies sector.

“Perhaps quite sensibly, investors could not ignore the comments and sentiment expressed by President Xi and reacted by increasing exposure to Bitcoin.

“It also comes as China is said to be developing its own national digital currency, which is further proof that in some form or another, digital currency is the future.”

He adds: “As history teaches us, it’s likely that momentum, perhaps partly driven by FOMO (the Fear Of Missing Out), will now pick-up pace again in the cryptocurrency sector.  Should this be maintained this week, I’m confident it will take Bitcoin to $12,000 before the start of 2020.

“The crypto momentum will also be driven by underlying fundamentals that will come back into focus.

“These include geopolitical issues – such as the U.S.-China trade war and the chaos of Brexit – and the global economic slowdown. These are encouraging exposure to decentralised, non-sovereign, secure digital currencies.

“Also, the technical network improvements that have further enhanced the performance of cryptocurrencies, as well as the forthcoming 2020 Bitcoin halving will also fuel price gains.”

The code for mining Bitcoin halves around every four years and the next one is set for May 2020. When the code halves, miners receive 50 per cent fewer coins every few minutes.  History shows that there is typically a considerable Bitcoin surge resulting from halving events.

“But perhaps the most important one is that public awareness is consistently growing. Cryptocurrencies, and in particular Bitcoin, are increasingly part of mainstream finance.

“This is evidenced not only in the financial sector, in which all major banks are increasingly looking at blockchain and crypto, but by the growing interest of governments and institutions, plus the major players within the tech and retail sectors too.”

Nigel Green concludes: “$8,500 is a key support for Bitcoin.  Should the Bitcoin price stay above this level, positive sentiment will be amplified, and we would see near year-highs.”

About:

deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement

EURUSD: expect an upwards correction

By Alpari.com

Last week, all the majors declined against the US dollar except for the Canadian dollar. The biggest loser was the pound (-1.17%), followed by the Swiss franc (-1.01%), the euro (-0.81%), the Kiwi dollar (-0.56%), the Aussie dollar (-0.53%), and the yen (-0.26%). The Canadian dollar rose by 0.49%.

On Friday the 25th of October, trading on the EURUSD pair closed down at 1.1079 on the back of a broadly stronger dollar. Traders adjusted their open positions ahead of the FOMC meeting, as well in the midst of Brexit uncertainty.

Day’s news (GMT+3):

  • 12:00 Eurozone: M3 money supply (Sep), private loans (Sep).
  • 14:00 UK: CBI distributive trades survey – realized (Oct).
  • 15:30 US: goods trade balance (Sep), Chicago Fed national activity index (Sep).
  • 18:00 Eurozone: ECB’s President Draghi speech.

EURUSD H1Current situation:

Friday’s expectations were met. The pair recovered to the balance line during the European session before dropping to 1.1073.

At the time of writing, the euro is trading at 1.1086. We expect a rise to 1.1111 before the day is out. Since the H1 and H4 timeframes contradict one another, we expect the pair to drop to 1.1079 before rising. The expected growth is an anticipated correction to the drop from 1.1180 to 1.1073. The downwards target is 1.1045.

The bears failed to get a foothold beneath the trend line, so we can ignore this now. They need a run up to get enough momentum for this, so now we’re looking for a bounce to the LB line.

Centre stage this week will be Brexit, the FOMC meeting, and Friday’s US jobs report.

British parliament will hold a vote today on a snap parliamentary election on the 12th of December. The EURGBP pair will exert its influence on our main pair, so keep an eye out for developments on this front.

The EU27 have agreed to another Brexit extension. The US regulator will make a decision on interest rates on Wednesday. Markets expect a 25-base-point reduction to the key rate. The US and China are in the final stages of negotiations and are close to concluding a deal.

By Alpari.com