Analysis Topic: Currency Market Analysis
The analysis published under this topic are as follows.
Monday, June 19, 2017
USDJPY Broke Above Trend Line Resistance / Currencies / Forex Trading
By: Franco_Shao
The USDJPY pair failed to break below the April 17 low of 108.13 and recently moved above the bearish trend line from 111.71 to 110.81 at 110.15 on its 4-hour chart, suggesting that the bearish movement from the May 11 high of 114.36 had completed at 108.81 already. As discussed before, as long as 108.13 support holds, the fall from 114.36 would possibly be correction of the uptrend from 108.13, and another rise to retest the resistance of the March 10 high of 115.50 is still possible after the correction.
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Sunday, June 18, 2017
The US Government Clamps Down on Ability of Americans To Purchase Bitcoin / Currencies / Bitcoin
By: Jeff_Berwick
You have to feel sorry for Americans. They are some of the most financially enslaved people in the world.
The bankrupt US government has been instituting capital controls for years now and have ensured that Americans can’t open a bank account nor even a bitcoin exchange account outside of the US through things like the Foreign Account Tax Compliance Act (FATCA) and just outright threatening to attack any bank or bitcoin exchange in the world who accepts Americans as clients.
This leaves Americans in the “land of the free” with very few options for bitcoin exchanges.
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Friday, June 16, 2017
USDCNH Rebounded Away From Channel Support / Currencies / Forex Trading
By: Franco_Shao
After breaking above the bearish trend line from 6.8876 to 6.8351 on its 4-hour chart, the USDCNH pair continued to break above the major resistance at the June 2 high of 6.7918, and is now trades in 6.8200 area, indicating that the bearish movement from the May 9 high of 6.9171 had completed at 6.7210 already.
Friday, June 16, 2017
USDJPY Still Under Pressure / Currencies / US Dollar
By: Franco_Shao
USDJPY stays below the bearish trend line from 111.71 to 110.81 with resistance at around 110.20 on its 4-hour chart, suggesting that the pair remains in bearish movement from the May 11 high of 114.36. As long as the pair is below the trend line, the bearish move could be expected to continue, and next target would be at the April 17 low of 108.13. A breakdown below 108.13 support will indicate that the longer term downtrend from the December 2016 high of 118.66 has resumed, then the pair will find next support at the 61.8% Fibonacci retracement taken from the June 2016 low of 98.97 to 118.66 at around 106.50.
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Thursday, June 15, 2017
The War On Cash Is Now Becoming The War On Cryptocurrency / Currencies / Bitcoin
By: Jeff_Berwick
The US government is the most bankrupt government in the history of the world. At $19.9 trillion, nothing even comes close. The next closest are the EU and Japan with approximately $9 trillion in debt… not even half as much as the US!
And, when you add up all US government debt and liabilities - which are things already spent but which need to be paid for in the future - it works out to somewhere between $100 and $200 trillion.
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Thursday, June 15, 2017
The US Dollar Bull Case / Currencies / US Dollar
By: Rambus_Chartology
I see just about everyone has their own theory or trading discipline on where the US dollar is headed next. It’s all these different ideas that make the markets work. Everyone can’t be bullish at the bottom or bearish at the top, it’s just the way it has to be.
For my 2 cents worth I’m still looking at the possible fractal, bullish rising wedge as a halfway pattern to the upside. I did an in depth report on currencies and the US dollar several months ago in which I showed how it could play out. Since that report the US dollar has declined down to the point, where if the fractal is going to work, now is the time for the US dollar to put in its bottom.
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Thursday, June 15, 2017
The Pros and Cons of Bitcoin and Blockchain / Currencies / Bitcoin
By: Rodney_Johnson
In October 2015 we held our Irrational Economic Summit in Vancouver. The weather was awesome, and the conference went well. Part of the final session was a Q&A with Harry Dent, myself, and Dr. Lacy Hunt.At one point, an attendee asked about bitcoin.
I told the audience in no uncertain terms that bitcoin was effectively dead. Whether it died a quick death or lingered for years, the cryptocurrency could not survive because governments would not allow it.
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Wednesday, June 14, 2017
GBPUSD Broke below 1.2755 Support / Currencies / British Pound
By: ElliottWave-Forecast
GBPUSD recently broke below 1.2755 support on its daily chart, indicating that the short term bullish movement from the March 14 low of 1.2109 had completed at the May 18 high of 1.3047 already. Further decline would likely be seen over the next several weeks.
Wednesday, June 14, 2017
Bitcoin Price Corrects / Currencies / Bitcoin
By: Mike_McAra
Bitcoin is now a lot more popular among mainstream investors than it was only a couple days ago. This is perhaps evidenced by the fact that the digital currency made its way to Bloomberg Markets homepage. In the short piece we read:
Bitcoin rose as much as 5.8 percent to an all-time intraday high of $2,999.98. The virtual currency has tripled its value since the beginning of the year amid greater acceptance of the blockchain technology that underpins the exchange method, global political uncertainty and increased interest in Asia. Skeptics have said that there may be a bubble in the making as bitcoin has repeatedly broken records without showing signs of slowing.
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Wednesday, June 14, 2017
Bitcoin Is Mania And Not A Store of Value… I Sold-Out Last Week / Currencies / Bitcoin
By: John_Mauldin
By Stephen McBride : The price of Bitcoin has risen by 210% since March to over $2,900… and one of the world’s most successful investment strategists is warning investors to stay away.
Speaking at the Mauldin Economics’ Strategic Investment Conference, Raoul Pal—author and publisher of The Global Macro Investor, an elite macroeconomic and investment research service—said Bitcoin’s explosion upward is mania.
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Tuesday, June 13, 2017
USDCAD Broke below Channel Support / Currencies / Canadian $
By: Franco_Shao
USDCAD broke below the bottom trend line at 1.3435 of the price channel on its daily chart, suggesting that the uptrend started from the January 31 low of 1.2968 had completed at the May 5 high of 1.3793 already.
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Tuesday, June 13, 2017
Can Ripple catch the rally of Bitcoin & Ethereum / Currencies / Bitcoin
By: ElliottWave-Forecast
Ripple is the third-largest cryptocurrency by market capitalization, after Bitcoin and Ethereum. It’s distributed financial technology allows banks to efficiently settle transactions in real time. An alternative to today’s global payment infrastructure, Ripple eliminates time delays and ensures certainty of settlement, resulting in lower transaction costs for banks and their customers and unlocking new revenue opportunities.
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Monday, June 12, 2017
Cryptocurrencies: Intrinsic Value Boil Down / Currencies / BlockChain
By: The_Gold_Report
Bitcoin and other cryptocurrencies have exploded in value since their genesis in 2009; Lior Gantz, editor of Wealth Research Group, discusses the reasons why.
Wealth Research Group's main purpose is to provide cutting-edge special reports, and none could be more important than how to protect your purchasing power.
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Saturday, June 10, 2017
Is 2017 The Year Of The Bitcoin? / Currencies / Bitcoin
By: Boris_Dzhingarov
2016 was a huge year for Bitcoin. There were not many that predicted that the cryptocurrency was going to double in value. The common prediction was a top point of around $800. With this in mind, what will 2017 hold for BTC? Read full article... Read full article...
Thursday, June 08, 2017
GBPUSD Remains in Uptrend from 1.2109 / Currencies / British Pound
By: Franco_Shao
GBPUSD moved sideways in a trading range between 1.2756 and 1.3047. As long as the pair is above 1.2756 support, the sideways movement could be treated as consolidation of the uptrend from the March 14 low of 1.2109, and further rise could be expected after the consolidation. Near term resistance is at 1.3047, a break of this level could signal resumption of the uptrend.
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Wednesday, June 07, 2017
Bitcoin Hits New All Time High Near $3,000 As Cryptos Surpass $100 Billion Market Cap / Currencies / Bitcoin
By: Jeff_Berwick
Are we witnessing the biggest wealth transfer in human history? A case can certainly be made for it.
One year ago, cryptocurrencies as a sector had a market capitalization of only $11 billion. Looking back even further, four years ago, the entire sector including bitcoin had a market capitalization of less than $1 billion.
As of today, it has surpassed $100 billion.
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Wednesday, June 07, 2017
Bitcoin Price Appreciates Again / Currencies / Bitcoin
By: Mike_McAra
Bitcoin is creeping into the mainstream press. Last week, the digital currency was in the center of an article in the Economist. In the article, we read:
Markets frequently froth and bubble, but the boom in bitcoin, a digital currency, is extraordinary. Although its price is down from an all-time high of $2,420 on May 24th, it has more than doubled in just two months. Anyone clever or lucky enough to have bought $1,000 of bitcoins in July 2010, when the price stood at $0.05, would now have a stash worth $46m. Other cryptocurrencies have soared, too, giving them a collective market value of about $80bn.
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Monday, June 05, 2017
EURJPY Moved Sideways between 122.55 and 125.81 / Currencies / Forex Trading
By: Franco_Shao
After breaking above the major resistance of the December 2016 high of 124.09, EURJPY formed as sideways movement in a trading range between 122.55 and 125.81. All we can do now is to wait for the breakout to occur.
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Friday, June 02, 2017
Ethereum Showing Elliott Wave Path for Bitcoin Price / Currencies / Bitcoin
By: ElliottWave-Forecast
Ethereum is an open-source blockchain-based distributed computing platform featuring smart contract functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum also provides a crypto-currency token called “ether”, which can be transferred between accounts and used to compensate participant nodes for computations performed.
Friday, June 02, 2017
EURUSD Might be Forming a Double Bottom Pattern / Currencies / Euro
By: Franco_Shao
EURUSD might be forming a double bottom pattern on its weekly chart. The first bottom is at the March 2015 low of 1.0462, the second bottom is at the January 2017 low of 1.0340, and the neckline is from the August 2015 high of 1.1713 to the May 2016 high of 1.1616, now at around 1.1450. The price has to break through the neckline before confirming this reversal formation.
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