InvestMacro

By George Prior

Ethereum Classic and ZCash have been added to deVere Crypto, one of the world’s leading cryptocurrency exchanges, due to strong client demand.

Users of the trailblazing crypto app, launched by deVere Group earlier this year, can now also buy, sell, store, and exchange Ethereum Classic (ETC) and ZCash (ZEC), alongside Bitcoin (BTC), Ethereum (ETH) Litecoin (LTC), Ripple (XRP), Dash (DASH), Monero (XMR) and Bitcoin Cash (BCH).

Of the latest additions to deVere Crypto, Nigel Green, founder and CEO of deVere Group, comments: “Whilst it remains the dominant digital currency, with currently about 58 per cent of the total market capitalization, there is much more to the crypto-verse than just Bitcoin.

“Each different cryptocurrency offers unique properties, strengths and uses for investors.

“There’s been strong demand among existing and potential investors for both Ethereum Classic and ZCash and we’re delighted today that clients can now trade and store them on the app.”

He continues: “We are committed to expanding our suite of carefully analysed digital coins for two main reasons.

“First, clients are increasingly demanding a truly diversified crypto portfolio as the sector grows and moves ever more into mainstream finance.

“And second, cryptocurrencies, as an asset class, are not going away. It is a burgeoning sector and is playing a larger and larger role within the global financial system.

“There’s no doubt in my mind that in today’s digitalized, globalized world, the demand for digital, global currencies in some form – whether it be the biggest ones of today or not – is only set to grow.  From now on, there will always be widely-used non-fiat money.

“Therefore, it’s important to give clients the widest selection of the key, proven coins.”

Last week, deVere Group announced that it has more than 15,000 deVere Crypto clients since the app was launched in February.  “We’re delighted with the strong and overwhelmingly positive reception it has received from clients and industry professionals alike,” noted the CEO.

Bitcoin is, once again, showing remarkable resilience, yet the broader crypto market is currently in bear territory.  With this in mind, Mr Green has suggested it was important to look at the bigger picture and to see the potential buying opportunities.

He said recently: ““For many investors, volatility is used as a welcome buying opportunity.

“They look at the bigger picture. They believe that cryptocurrencies are the future of money.

“Such investors also appreciate that institutional and regulatory support is increasingly inevitable and could happen sooner than many previously expected.

“In addition, they are seeing for themselves how more and more global financial institutions, major corporations and household name investors are now working with cryptocurrencies and blockchain, the technology that underpins them.”

He added: “Increasingly, savvy investors are aware that what is taking place is a maturation of a relatively new market – hence the highs and lows almost every other week.

“As such, they understand that they either have to buy and take a long-term approach – as is typically the best approach with almost all investing – or be prepared to miss the boat.”

“As anyone who has analysed the sector in recent years will know, the dips and peaks are a usual part of the cryptocurrency market.”

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.

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7183; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the downside border of the cloud at 0.7195 and then resume moving downwards to reach 0.7055. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that Implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7225. In this case, the pair may continue growing towards 0.7315.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6555; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the downside border of the cloud at 0.6565 and then continue moving downwards to reach 0.6475. Another signal to confirm further descending movement is the price’s rebounding from the channel’s upside border. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.6625. In this case, the pair may continue growing towards 0.6710.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3011; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the downside border of the cloud at 1.3055 and then continue moving downwards to reach 1.2890. Another signal to confirm further descending movement is the price’s rebounding from the channel’s broken border. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 1.3135. In this case, the pair may continue growing towards 1.3250.

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.

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD has finished another correction towards the support level and formed several Engulfing and Hammer reversal patterns there. Judging by the previous movements, right now it may be assumed that the instrument is forming another pullback before starting a new ascending movement.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has completed another correction from the support level and formed Doji and Shooting Star reversal patterns. Judging by the previous movements, it may be assumed that the instrument is being corrected again before continuing the downtrend.

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.

Analytics by JustForex

The EUR/USD currency pair

• Prev Open: 1.16035
• Open: 1.16251
• % chg. over the last day: +0.16
• Day’s range: 1.16163 – 1.16429
• 52 wk range: 1.0571 – 1.2557

The EUR/USD currency pair is consolidating. Financial market participants took a wait-and-see attitude before the ECB meeting. It is expected that the regulator will leave the key interest rates unchanged. At the moment, the local support and resistance levels are: 1.16150 and 1.16450, respectively. We recommend opening positions from these marks.

• – Key interest rate decision at 14:45 (GMT+3:00);
• – Core consumer price index in the US at 15:30 (GMT+3:00).

Indicators do not send accurate signals: 50 MA has started crossing 200 MA.

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

Stochastic Oscillator is located near the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.

• Support levels: 1.16150, 1.16000, 1.15800
• Resistance levels: 1.16450, 1.16850, 1.17000

If the price fixes above the resistance level of 1.16450, the EUR/USD quotes are expected to grow. The movement is tending to 1.16850-1.17000.

An alternative may be the decrease of the EUR/USD currency pair to 1.15700-1.15300.

The GBP/USD currency pair

• Prev Open: 1.30213
• Open: 1.30379
• % chg. over the last day: +0.08
• Day’s range: 1.30262 – 1.30528
• 52 wk range: 1.2361 – 1.4345

Last trading sessions, the GBP/USD currency pair is moving in flat. A unidirectional trend is not observed. Investors expect the Bank of England decision on monetary policy. It is expected that the regulator will keep the interest rate at the previous level of 0.75%. We recommend paying attention to the comments of the Central Bank representatives. At the moment, the GBP/USD quotes are consolidating in the range of 1.30000-1.30500. The positions should be opened from these marks.

At 14:00 (GMT+3:00), the Bank of England will announce its decision on the interest rate.

Indicators do not send accurate signals. The price is testing 50 MA, which is a strong dynamic support.

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

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

• Support levels: 1.30000, 1.29700, 1.29000
• Resistance levels: 1.30500, 1.30850, 1.31000

If the price fixes above the resistance level of 1.30500, the GBP/USD quotes are expected to rise. The movement is tending to 1.31000-1.31250.

An alternative may be the decrease of the GBP/USD currency pair to 1.29700-1.29500.

The USD/CAD currency pair

• Prev Open: 1.30654
• Open: 1.29927
• % chg. over the last day: -0.50
• Day’s range: 1.29926 – 1.30183
• 52 wk range: 1.2059 – 1.3795

The USD/CAD currency pair continues to show negative dynamics. During yesterday’s trading, the loonie added more than 80 points against the US dollar. Demand for the Canadian currency is at a fairly high level. At the moment, the USD/CAD currency pair is consolidating in the range of 1.29850-1.30200. The trading instrument has the potential for further reduce. Positions should be opened from the key levels.

The news feed on the economy of Canada is calm.

Indicators signal the power of sellers: the price has fixed below 50 MA and 200 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell USD/CAD.

Stochastic Oscillator has started moving out the overbought zone, the %K line is below the %D line, which indicates the bearish sentiment.

• Support levels: 1.29850, 1.29500, 1.29200
• Resistance levels: 1.30200, 1.30500, 1.30750

If the price fixes below the local support of 1.29850, the USD/CAD quotes are expected to fall. The movement is tending to 1.29500-1.29200.

Alternative option. If the price fixes above 1.30200, it is necessary to look for entry points to the market to open long positions. The target movement level is 1.30500-1.30750.

The USD/JPY currency pair

• Prev Open: 111.590
• Open: 111.259
• % chg. over the last day: -0.38
• Day’s range: 111.115 – 111.508
• 52 wk range: 104.56 – 114.74

Yesterday, the bearish sentiment prevailed on the USD/JPY currency pair. At the moment, the trading instrument is moving in flat. The technical pattern is ambiguous. The USD/JPY quotes are testing local support and resistance levels: 111.200 and 111.500, respectively. The positions should be opened from these marks. We recommend paying attention to the news feed on the US economy.

The publication of important economic reports from Japan is not planned.

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

The MACD histogram is located near the 0 mark.

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

• Support levels: 111.200, 110.900, 110.700
• Resistance levels: 111.500, 111.750, 112.000

If the price fixes above the resistance level of 111.500, the USD/JPY quotes are expected to rise. The movement is tending to 111.750-112.000.

Alternative option. If the price fixes below the level of 111.300, we recommend looking for entry points to the market to open short positions. The target movement level is 111.000-110.700.

Analytics by JustForex

by JustForex

Yesterday, the US dollar weakened against the currency majors. The dollar index (#DX) closed the trading session in the negative zone (-0.42%). This is due to the release of weak statistics. In August, the producer price index in the US fell by 0.1%. Experts forecasted the indicator at +0.2%. This report lowered the expectations of financial market participants regarding the increase in the key interest rate of the Fed in December this year.

Today, the meetings of the Bank of England and the ECB will be the key events. It is expected that regulators will leave interest rates unchanged. We recommend paying attention to the comments by representatives of the Central Banks. The escalation of trade conflict between the US and China continues. It became known that on Friday, the US President Donald Trump could impose new duties on imports of Chinese goods.

The “black gold” prices have started declining after the rapid growth at the beginning of this week. At the moment, futures for the WTI crude oil are testing a mark of $ 69.80 per barrel.

Market Indicators

Yesterday, the major US stock indices showed mixed results: #SPY (+0.02%), #DIA (+0.08%), #QQQ (-0.29%).

At the moment, the 10-year US government bonds yield is at the level of 2.96-2.97%.

– Bank of England interest rate decision at 14:00 (GMT+3:00);
– ECB interest rate decision at 14:45 (GMT+3:00);
– Core consumer price index in the US at 15:30 (GMT+3:00).

by JustForex

By Gabriel Ojimadu, Alpari

See how Elliott wave analysis helped traders reduce risk in Litecoin’s recent price action

By Elliott Wave International

Dear readers, if a story about the get-rich-quick promises of cryptocurrency trading is what you seek, keep on moving.

Rest assured, that story exists. It’s all over the interwebs, in one form or another: jazzy headlines about average Joe So-and-So turning $1k into $1 million overnight in the crypto markets.

We’re not saying it couldn’t happen. People do get lucky now and again. It’s just that, we’re not in the business of luck. We’re in the business of using objective analysis to identify high-confidence trade setups in the world’s leading financial markets, inscrutable as they may be.

Sure, it doesn’t have the same ring to it. But it’s honest. And that’s invaluable in a hyper-speculative market filled with unscrupulous coin-makers looking to take advantage of unsuspecting traders.

For more, we turn open the pages of our newly minted report Crypto Trading Guide: 5 simple Strategies to Catch the Next Opportunity, where our Cryptocurrency Pro Service analyst, Jim Martens, extols the singular benefit of Elliott wave analysis — its ability to limit your trading risk:

“When considering a trade, you always want to answer this question first: ‘Where will I be wrong?’

“I want to know that risk. For example, a market has been falling and you’re expecting a low. All of a sudden, we see what looks like a five-wave advance on a 60-minute chart. At this point, should you take action?

“No, you should wait for a three-wave decline, which would be the correction of that advance.”

“Based on one rule of the Wave Principle, I know where this count becomes wrong. [Remember from Chapter 1:] Wave (2) cannot retrace more than 100% of wave (1).

“So, I draw a line at the start of wave 1. If the decline surpasses that level, I know that my count is incorrect.

“Elliott wave analysis is one of few methodologies that give us an absolute number for our protective stop.”

In other words, Elliott waves allow you to identify specific points of ruin for every trade before you even start. To see how this plays out in a real-world market, we turn our attention to the August 1 Cryptocurrency Pro Service coverage of Litecoin.

There, our analysis outlined a bullish, 3rd-wave rally — noting, however, that any upside move was contingent on wave 2 not retracing more than 100% of wave 1, just as Jim explained in the excerpt above.

From the August 1 Cryptocurrency Pro Service intraday forecasts:

“74.50 should therefore be considered the line in the sand for the bullish count. If breached, we’ll have to adopt a bearish Alternate as we did for Ethereum to allow for lower before wave C of (Y) finds its bottom.”

A few days later, Litecoin prices did, in fact, fall below the 74.50 handle, signaling a resumption of the downtrend. On August 5, our Cryptocurrency Pro Service made the necessary, bearish adjustment:

“74.50 hung in there tenaciously for a while, but was ultimately violated in the weekend’s trading. As discussed Friday, that has called up the incomplete wave C Alternate count. “

The next chart captures the rapid descent that followed, bringing Litecoin to an eight-month low in early August before stopping.

We understand the pressure to leap headlong into the blockchain breach is intense. If you subtract the numbers “inflated through fake and deceptive activities,” the average daily trading volume of crypto exchange markets is around $6 billion (Aug. 28 CNN).

But we believe there’s a way to be smart and discerning about where to leap. With 1600 cryptocurrencies and counting, that starts with choosing only the most reputable markets with proven track records and transparency. Chances are, it won’t be named after a comic book character or piece of fruit. Our Cryptocurrency Pro Service tracks the top three cryptos: Bitcoin, Ethereum and Litecoin.

The second requirement of a high-confidence cryptocurrency trade is knowing when your trade is wrong. This is where Elliott wave analysis is in a league unto its own.

Our free report “Crypto Trading Guide: 5 Simple Strategies to Catch the Next Opportunity” explains more. Each chapter shows you the power of the Elliott Wave Principle to explain some of the biggest recent moves in Bitcoin, Litecoin and Ethereum — and how you can apply this method in your own trading, going forward. Get instant access.

This article was syndicated by Elliott Wave International and was originally published under the headline Trading Cryptocurrencies: To Win, You Must Know Where You’re Wrong. EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD has reached the retracement of 23.6% and right now is still being corrected upwards. After breaking the previous high, the price is trading towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3143 and 1.3203 respectively. The support level is at 1.2785.

In the H1 chart, the divergence made the pair start a new downtrend, which has already reached the retracement of 23.6%. The next downside targets may be the retracements of 38.2% and 50.0% at 1.2925 and 1.2785 respectively.

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, after being corrected downwards by 50.0%, EURJPY has started a new rising impulse, which is heading towards the high at 130.86. If the price breaks the high, the instrument may continue growing to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 132.00 and 132.70 respectively. However, in case the pair decides to continue its decline, the target will be the retracement of 61.8% at 127.20.

In the H1 chart, the convergence made the pair reverse and start a new rising correction, which has already reached the retracement of 61.8%. The next upside targets may be the retracements of 76.0% at 130.13.

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.

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has completed another descending impulse along with the correction. Possibly, today the pair may fall with the short-term target at 1.1527 and then form a new ascending structure towards 1.1570. After that, the instrument may resume falling to reach 1.1515.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD hasn’t been able to extend the ascending structure, but formed a descending impulse along with the correction instead. Today, the price may fall to break 1.2936 and then continue falling inside the downtrend with the first target at 1.2790.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is growing towards 0.9744. Later, the market may fall to reach 0.9732 and then form a new ascending structure with the target at 0.9755. If the instrument breaks this range to the upside, the price may resume growing with the short-term target at 0.9777.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is moving downwards. Today, the price may reach 110.95 and then form a new consolidation range. After that, the instrument may break the range to the downside and continue falling inside the downtrend with the first target at 110.30.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating and reaching new lows. Possibly, today the pair may reach 0.7082 and then resume growing towards 0.7125. Later, the market may form a new descending structure resume with the short-term target at 0.7033.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is moving downwards with the target at 69.31. After that, the instrument may resume growing to reach 69.91, thus forming a new consolidation range. If the instrument breaks this range to the upside, the price may form a new ascending structure towards 70.70; if to the downside – resume falling with the target at 68.81.

XAUUSD, “Gold vs US Dollar”

Gold is forming the fifth descending structure. Today, the price may reach 1191.80 and then start a new consolidation range. Later, the market may break it to the downside and the continue falling inside the downtrend with the predicted target at 1186.20.

BRENT

Brent has reached the target of the ascending wave; right now, it is extending the structure upwards. Possibly, today the pair may grow towards 79.95 and then resume falling to reach 78.98. Later, the market may start a new growth with the short-term target at 80.50.

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.

Analytics by JustForex

The EUR/USD currency pair

• Prev Open: 1.15913
• Open: 1.16035
• % chg. over the last day: +0.02
• Day’s range: 1.15700 – 1.16053
• 52 wk range: 1.0571 – 1.2557

The technical pattern on the EUR/USD currency pair is ambiguous. Financial market participants expect the ECB meeting, which will be held this Thursday, September 13. At the moment, the EUR/USD quotes are testing the demand zone of 1.15650-1.15800. The nearest resistance is at the level of 1.16050. We recommend paying attention to the news feed on the US economy. Positions should be opened from the key levels.

Today, the publication of important economic reports from the Eurozone is not planned. We expect the US producer price index at 15:30 (GMT+3:00).

The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.

The MACD histogram has moved into the negative zone, which signals the bearish sentiment.

Stochastic Oscillator is located in the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.

• Support levels: 1.15650, 1.15300, 1.15000
• Resistance levels: 1.16050, 1.16300, 1.16500

If the price fixes below 1.15650, the EUR/USD quotes are expected to fall. The movement is tending to 1.15300-1.15000.

An alternative may be the growth of the EUR/USD currency pair to the level of 1.16300-1.16500.

The GBP/USD currency pair

• Prev Open: 1.30236
• Open: 1.30213
• % chg. over the last day: -0.02
• Day’s range: 1.30154 – 1.30281
• 52 wk range: 1.2361 – 1.4345

Yesterday, trading on the GBP/USD currency pair was very active. The UK published quite optimistic statistics on the labor market. At the same time, the GBP/USD currency pair closed the trading session almost unchanged. Investors expect the Bank of England comments on further monetary policy. The meeting of the Central Bank will be held on September 13. At the moment, the key trading range is 1.30000-1.30400. We recommend opening positions from these marks.

Today, the news feed on the UK economy is calm.

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

The MACD histogram is located near the 0 mark.

Stochastic Oscillator has started moving out of the oversold zone, the %K line is above the %D line, which signals to buy GBP/USD.

• Support levels: 1.30000, 1.29700, 1.29400
• Resistance levels: 1.30400, 1.30850, 1.31000

If the price fixes below the round level of 1.30000, the GBP/USD quotes are expected to fall. The movement is tending to 1.29700-1.29500.

An alternative may be the growth of the GBP/USD currency pair to 1.30400-1.30750.

The USD/CAD currency pair

• Prev Open: 1.31555
• Open: 1.30654
• % chg. over the last day: -0.77
• Day’s range: 1.30510 – 1.30782
• 52 wk range: 1.2059 – 1.3795

Yesterday, aggressive sales of USD/CAD were observed. The drop in quotes exceeded 100 points. It has become known that the negotiations between the US and Canada regarding NAFTA are being proceeded well. In the near future, the parties can conclude a new agreement. At the moment, the USD/CAD currency pair is consolidating in the range of 1.30500-1.30750. The trading instrument has the potential for further reduce.

The publication of important economic reports from Canada is not planned.

Indicators point to the power of sellers: the price has fixed below 50 MA and 200 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell USD/CAD.

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

• Support levels: 1.30500, 1.29900
• Resistance levels: 1.30750, 1.31200, 1.31600

If the price fixes below the local support of 1.30500, the USD/CAD quotes are expected to fall. The movement is tending to the round level of 1.30000.

Alternative option. If the price fixes above 1.30750, the USD/CAD currency pair may test the “mirror” resistance level of 1.31200.

The USD/JPY currency pair

• Prev Open: 111.099
• Open: 111.590
• % chg. over the last day: +0.46
• Day’s range: 111.454 – 111.650
• 52 wk range: 104.56 – 114.74

The USD/JPY currency pair is in a sideways trend. The trading instrument is testing local support and resistance levels: 111.400 and 111.650, respectively. Investors expect additional drivers. The USD/JPY quotes have the potential for further growth. We recommend paying attention to the dynamics of the US government bonds yield. Positions should be opened from the key levels.

The news feed on the economy of Japan is calm.

The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.

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

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

• Support levels: 111.400, 111.200, 110.900
• Resistance levels: 111.650, 111.850, 112.000

If the price fixes above the resistance level of 111.650, the USD/JPY quotes are expected to grow. The movement is tending to 111.850-112.000.

Alternative option. If the price fixes below the “local” support of 111.400, we recommend looking for entry points to the market to open short positions. The target movement level is 111.200-111.000.

Analytics by JustForex