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  1. #141
    xtreamforex.com is offline Senior Member
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    S&P 500 PRICE FORECAST – MARKETS REBOUND AFTER INITIAL BEARISHNESS ON THURSDAY

    While the S&P 500 didn’t explode to the upside, it certainly showed its wherewithal near the 2790 level, bouncing significantly to break above the 2800 level. By forming a hammer, this shows that the market is “leaning” higher, now all it needs is a good jobs number to lift it to the upside.
    The S&P 500 initially fell during trading on Thursday but bounced enough to form a hammer. By doing so, it’s likely that the market is trying to show that it wants to go higher, but the jobs number needs to be out of the way before I think a lot of money jumps into the market. The 2820 level of course is a major level, but if we can clear that I think we could gain another five points rather quickly, and then perhaps another 15 after that.
    The alternate scenario of course is that we break down below the lows of the day, but I think that would probably be with some type of horrific mess coming out of the Bureau of Labor Statistics. I don’t think there’s a huge surprise waiting, but if we get it, you need to notice that we could have a bit of “empty space” down to the 2740 handle.
    I believe that the market will ultimately try to go higher, but I also recognize that there is a lot of concern around the world, and although there are cracks in the foundation of the rally, I do believe that we are not quite ready to roll over. I believe that the next couple of weeks will probably be somewhat quiet after the jobs number, but you can use that to your advantage if you are patient enough.
    Read more:http://www.xtreamacademy.com/forex-forecast

  2. #142
    xtreamforex.com is offline Senior Member
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    BITCOIN TURNING BEARISH, WITH THE BEARS EYEING SUB-$7,000

    It’s getting bearish for Bitcoin, with the morning slide bringing sub-$7,000 levels into play should sentiment not shift through the early afternoon.
    Bitcoin fell by 1.05% on Thursday, following on from Wednesday’s 1.7% decline, to end the day at 7,527, the moves through the day marking a 5th consecutive day in the red.
    A choppy start to the day saw Bitcoin move through to an early morning intraday high $7,713 before pulling back to $7,600 levels, the day’s high falling short of the day’s first major resistance level at $7,761.73 and more importantly, the 23.6% FIB Retracement Level of $7,857.
    Following a relatively range bound morning, Bitcoin finding support while the broader market saw red, a late morning reversal saw Bitcoin fall to a mid-afternoon intraday low $7,450, calling on support at the 38.2% FIB Retracement Level of $7,456 before recovering to $7,500 levels late in the day, the day’s low steering clear of the first major support level at $7,445.83.
    Bitcoin’s continued support at the 38.2% FIB Retracement Level of $7,456 kept the near-term bullish trend intact through the week, though pressure has continued to build, with Bitcoin’s downward trend on the intraday highs reflected with a 2nd consecutive day of falling short of $8,000 levels.
    Market sentiment towards an expected shift in the regulatory landscape continued to be the key driver on Thursday, with the SEC’s delay in a decision on Bitcoin ETFs to September and the G20’s delay in rolling out unified rule and regulations for the broader cryptomarket doing few favours in the week.
    We can expect key jurisdictions to revisit existing rules and regulations and introduce interim measures as a stop gap to protect investor interests, with the cryptomarket unlikely to be a key priority for the G20 when considering the ongoing U.S – China trade war and other geo-political headwinds influencing the global economic outlook and the global financial markets.
    Read more:http://www.xtreamacademy.com/cryptocurrency-news

  3. #143
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    USD/CAD SOARS AFTER SAUDI ARABIA FREEZES TRADE WITH CANADA

    TALKING POINTS FOR USD/CAD:
    Canadian Dollar fell against its US counterpart early into Monday’s trading session
    Hawkish BoC and increasing inflation helped the Loonie pare its losses
    Housing and employment data releases later in the week may fuel downside momentum
    The Canadian Dollar started Monday’s trading session sharply lower against its US counterpart after news of Saudi Arabia expelling the Canadian ambassador crossed wires. The Saudi Press Agency, the nation’s official news outlet, also announced that the country would freeze all new trade and investment deals with Canada. This move comes after Canadian Foreign Minister Chrystia Freeland urged Saudi authorities over Twitter to release human rights activists from prison.
    However, the currency pair’s upside momentum reversed throughout the Asia/Pacific trading hours. Negative impacts of the Saudi Arabian investment and trade embargo may be overshadowed by Canada’s higher inflation and better than expected economic growth. The BoC, which recently raised rates to 1.5% at their July meeting, has been increasingly hawkish and alluded to more increases this year.
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  4. #144
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    BITCOIN MONTHLY FORECAST – AUGUST 2018

    The BTC prices were finally able to break through the highs of its range last month and this signals the onset of the bull run.
    The bitcoin market began the month of July on a quiet note which was a follow up to the way that the market was trading over the month of June. This was the case during the entire first half of last month and it looked as though the trend would continue for the rest of the month as well as the prices struggled in the $6000 region and it also appeared that it might weaken further in due course of time. But this did not happen as the key region during this period was the price region around $6800. This served as a region of strong resistance and it appeared as the line in the sand between the bulls and the bears.
    BTC Resumes Bull Run

    If the prices did break through higher, it was clear that it would be enough to push the prices much higher while the market continued to be in control of the bears until the prices were below that region. This situation continued but as time wore on, it became clear that the bulls were beginning to take control as they made repeated attempts to break through the $6800 region and though many of these attempts failed, the correction that followed these attempts becae shorter and shorter and this was a clear indication that the trend was beginning to change.
    Read more:http://www.xtreamacademy.com/cryptocurrency-news

  5. #145
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    GOLD PRICE CHART HINTS AT BOTTOMING AFTER US 10-YEAR BOND AUCTION

    GOLD & CRUDE OIL TALKING POINTS:
    Gold prices rise as US bond yields, Dollar fall after record debt sale
    Crude oil prices drop, talked down by officials from China and Iran
    Chart setups hint gold may be set to bounce as crude oil suffers losses
    Gold prices rose yesterday as the US Dollar retreated alongside Treasury bond yields after hitting a 13-month high intraday. That helped the yellow metal leverage its appeal as an anti-fiat and non-interest bearing alternative. The move came after demand held impressively steady despite a record-setting offering of $26 billion in 10-year notes.
    The bid-to-cover ratio registered at 2.55, only a hair lower than the 2.57 reading recorded at the prior sale of comparable paper. Investors seemed to interpret the outcome to mean that the oncoming flood of new issuance needed to finance the widening budget deficit will find healthy take-up. That sent US debt prices higher, trimming baseline borrowing costs.
    GOLD TECHNICAL ANALYSIS

    Gold prices edged above trend line resistance set from mid-June, hinting an upswing may be in the works. The appearance of a bullish Morning Star candlestick pattern and positive RSI divergence reinforce the case for a rebound. A break above range floor support-turned-resistance at 1221.25 opens the door for a test of the 1236.6-40.86 area. Immediate support is at 1204.59, the August 3 low.
    Read more:http://www.xtreamacademy.com/forex-news


  6. #146
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    BITCOIN – DOMINANCE BEGINS TO RISE AS OTHERS FALTER

    Bitcoin on the rise early, though holding on to $6,300 levels will be key in the early part of the day to avoid a pullback later in the day.
    Bitcoin gained 1.24% on Sunday, following on from Saturday’s trend bucking 1.5% rise, to end the week down 10.2% at $6,310.1.
    A late Saturday reversal continued into the early hours of Sunday morning, with Bitcoin pulling back to a start of a day intraday low $6,162 before recovering to $6,300 levels, the day’s low steering clear of the first major support level at $5,998.23 and more importantly sub-$6,000 levels.
    Through a choppy afternoon, Bitcoin broke through to $6,400 levels, with an intraday high $6,499 seeing Bitcoin test the day’s first major resistance level at $6,489.63 before pulling back to $6,300 levels.
    While there was no major weekend rally to speak of, the gains over the weekend cut the deficit for the week and of greater significance was the clear level of support at sub-$6,300 levels, any pullbacks to $6,100 levels being short lived, leading to recoveries to $6,300 levels on each occasion.
    In spite of the support, Bitcoin continued to fall well short of the 23.6% FIB Retracement Level of $6,757 and $7,000 levels needed to begin a near-term bullish trend formation, with the markets yet to fully dust off the recent negative news to hit the wires.
    For the broader market, it was a particularly tough week, Bitcoin’s dominance rising from a start of a week 47.3% through to 51% at the time of writing, with the cryptomarket total market cap sliding from $259.99bn to a low of $206.97bn before recovering to $214bn levels.
    The Bitcoin bulls will be fully aware of the rise in Bitcoin dominance over the week, reflected in the minor losses relative to the broader market, the support for Bitcoin certainly evident over the weekend.
    On the news wires, there was no materially negative news over the weekend, supporting Sunday’s gains though we can expect the regulatory chatter to return following a couple of weeks of relative silence.
    At the time of writing, Bitcoin was up 0.59% to $6,351, some early support seeing Bitcoin recover from a start of a day $6,306.8 low to an early morning $6,380 high, before easing back, the early moves leaving the major support and resistance levels untested.
    For the day ahead, a move through to $6,380 would support a run at $6,400 levels to bring the first major resistance level at $6,485.4 into play, with the Bitcoin bulls eyeing Sunday’s $6,499 high, though the news wires will need to remain friendly to support such a move.
    Failure to move back through to the morning high would likely test support later in the day, any pullback to sub-$6,320 levels likely to see Bitcoin pullback to $6,200 levels, while we would expect Bitcoin to avoid testing the day’s first major support level at $6,148.4, barring materially negative news hitting the wires.
    Holding above $6,220 would be key to avoiding a pullback to sub-$6,200 levels later in the day, in the event of a broad based market sell-off.
    Read more:http://www.xtreamacademy.com/cryptocurrency-news

  7. #147
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    CRYPTOCURRENCIES CRASH CONTINUES; BITCOIN’S BULLETPROOF BOTTOM AT $6000?

    The leading cryptocurrencies show a two-digits sell-off on Tuesday: Ethereum (ETH) has lost more than 17%, XRP fell by 14.5%, and Cardano (ADA) has plummeted more than any other major cryptocurrency by almost 20%. Bitcoin dropped 6% to trade near $6000.
    The cryptocurrency market has started the current week with an impressive decline. The total market cap fell by 12% to $ 192 billion a day, which is less than 25% of the peak market volume at the beginning of the year. The Bitcoin once again came to the threshold level at $6000 losing more than 6% in the past 24 hours.
    The leading altcoins show a two-digits sell-off: Ethereum (ETH) has lost more than 17%, XRP fell by 14.5%, Cardano (ADA) and IOTA (IOT) have plummeted more than any other major cryptocurrency by almost 20%.
    As we take a look at the BTC chart for this year, we can see that the cryptocurrency showed lower lows and lower highs until the BTC level reached the current mark somewhat below $6000, which seems a strong support level.
    $6000 mark could become the solid support with possible reverse
    From a technical analysis perspective, the situation looks ambiguous. The Bitcoin returned to the area of its lows where it received support in February, March-April, and June. Another rebound from this area could start a significant rally, having established as a bulletproof bottom.
    The RSI index also came out of the oversold levels, which often increases the chances for a rebound. Despite the weakness of the market, this scenario looks the most plausible at the moment.
    Alternatively, the drawdown lower than the previous levels near $5800 could give an impulse for a new sell-off wave. In this case, BTC would expect a decline to $3300 level due to a significant liquidation of long positions.
    Volatility in the traditional markets does not cause the demand for cryptocurrencies, as it was a year ago, despite the twofold increase in trade volumes on the Turkish exchanges. In general, the world becomes a witness of a massive diminishing of the interest in cryptocurrencies.
    Read more:http://www.xtreamacademy.com/cryptocurrency-news

  8. #148
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    GOLD PRICE PREDICTION – PRICES DROP SHARPLY BUT ARE NOW OVERSOLD

    Gold prices tumbled again on Wednesday breaking down and headed toward target support near the December 2016 lows at 1,120. Resistance is seen near former support now resistance near 1,204. Stronger than expected retail sales helped buoy the dollar paving the way for lower gold prices. The dollar has been the beneficiary of the geopolitical unrest which first hammered the Turkish Lira but has spread to decline in the Indian Rupee and the Chinese Yuan. Momentum is negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. This occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses below the MACD signal line (the 9-day moving average of the MACD line). Prices are oversold. The relative strength index (RSI) which is a momentum oscillator is printing a reading of 21, well below the oversold trigger level of 30 which could foreshadow a correction. The RSI has hit a low of 20 twice in the past 3-years and in each instance prices rebounded.
    Retail Sales Were Stronger than Expected
    The U.S. Commerce Department reported that U.S. Retail Sales rose by 0.5% in July. Economists had forecast that headline retail sales would increase 0.1% Retail sales increased 6.4% from the prior July. Retail Sales was revised lower in June climbing by 0.2% in June compared to the previously reported 0.5%. Ex-autos and gasoline retail sales were up 0.5%.
    Read more:http://www.xtreamacademy.com/forex-forecast

  9. #149
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    THE BITCOIN BULLS EYE $6,700 LEVELS TO TAKE SUB-$6,000 OUT OF PLAY

    Bitcoin is on the move early and holding on to $6,300 levels would support a return to $6,600 levels later in the day, the markets settling.
    Bitcoin gained 1.11% on Wednesday, reversing Tuesday’s 0.99% loss, to end the day at $6,258.
    Tuesday’s late in the day upward moves continued into the early hours of Wednesday, with Bitcoin moving through the day’s first major resistance level at $6,341.73 to a morning high $6,483 before easing back.
    Holding on to $6,200 levels through the middle part of the day and avoiding another visit to sub-$6,000 levels to test the day’s first major support level at $5,948.43, supported a break back through the first major resistance level at $6,341.73 and a break through the second major resistance level at $6,493.47 to an intraday high $6,647.6.
    A late sell-off saw Bitcoin pullback to $6,200 levels by the day’s end, with investor fears of another sell-off seeing intraday gains locked in early, pinning back any major recovery as the market looks ahead to the SEC Bitcoin ETF decisions and the G20 rule and regs, which are the two key drivers for Bitcoin and the broader market near-term.
    For the Bitcoin bulls, holding on to $6,200 levels through the day was key, though Bitcoin continued to fall short of the 23.6% FIB Retracement Level of $6,757 needed to support the formation of a near-term bullish trend. The good news was Bitcoin’s break through to $6,60 levels, though Bitcoin will need to be taking a run at $6,700 levels in the coming days to avoid any sell-off.
    On the news wires, there was nothing major to influence direction through the day, with Wednesday’s gain leaving Bitcoin with minor losses for the current week.
    Following a number of weeks in the red, the minor losses in the current week will have the Bitcoin bulls looking to reverse the recent weekly downward trend.
    At the time of writing, Bitcoin was up 0.56% to $6,305.4, with Bitcoin recovering from a start of a day morning low $6,219.9, the early pullback having been a continuation of Wednesday’s late in the day reversal.
    Moves through the early part of the day left the day’s major support and resistance levels untested, with Bitcoin managing to reverse early losses.
    For the day ahead, a move through to $6,360 levels would support a run at $6,400 levels to bring the first major resistance level at $6,543.73 into play, though for Bitcoin to have a chance at breaking through to $6,500 levels, a hold at $6,300 levels through the morning is going to be needed.
    Failure to hold on to $6,300 levels and take a run at $6,400 levels could see Bitcoin hit reverse later in the day, with any pullback to $6,200 levels bringing the first major support level at $6,076.13 into play, though we would expect Bitcoin to steer clear of major support levels and sub-$6,000 levels on the day, barring a material shift in sentiment.
    Read more:http://www.xtreamacademy.com/cryptocurrency-news

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