Daily Market News by Xtreamforex

[xtreamforex]

BITCOIN CASH, LITECOIN AND RIPPLE DAILY ANALYSIS – 23/03/18


The bears continue to plague the markets this morning, as investors respond to negative news hitting the wires through the 2nd half of the week.

Bitcoin Cash on Slide

Bitcoin Cash fell by 1.84% on Thursday, following Wednesday’s 2.95% fall, to end the day at $1,011. The bullish trend that had been formed last Sunday evening reversed on Wednesday morning and, despite Bitcoin rising to an intraday high $1,066 in the early hours of Thursday, the bearish trend remained intact through the day, falling to an intraday low $981.9.
While the intraday high failed to test major resistance levels, the $981.9 low tested the day’s first major resistance level of $995.67 and buyer appetite at the day’s 38.2% FIB Retracement Level of $991.56, though support was not enough for Bitcoin Cash to break through the day’s 23.6% FIB Retracement Level of $1,026.89 by the close.
There may have been hopes of a recovery going into this morning, with Bitcoin Cash managing to recover to $1,000 levels by the close, but the sell-off continued through the early hours of today.
At the time of writing Bitcoin Cash was down 4.57% to $966.3, with the day ahead looking bleak as investors responded to yet more negative news hitting the wires.
For the day ahead, with Bitcoin Cash sitting below the day’s first major support level of $973.27, failure to move through to $1,000 levels could see the day’s 2nd support level of $935.53 tested, with Bitcoin Cash sitting well below the day’s 23.6% FIB Retracement Level of $1,006.
It’s certainly looking bearish going into the weekend and, while investors have been quick to jump in on the dips of late, there may well be a pause this time around.

Read more : http://www.xtreamacademy.com/forex-f...ysis-23-03-18/

 

[xtreamforex]

BITCOIN AND ETHEREUM PRICE FORECAST – BTC PRICES CONSOLIDATE

The prices are consolidating as the market awaits the next direction

The BTC prices have been consolidating and ranging as we head towards the end of the month. We had mentioned in a couple of forecasts over the last few weeks that the crypto prices had a similar fall in the same period of last year and the great bullish run in the BTC prices began only after this period and it remains to be seen whether it is going to be the same this year as well. The prices have been trading near their support region of the $8500 region over the last couple of days and this shows that there is some accumulation going on. For the bulls, they would hope that this would mean bullish accumulation which would in turn mean that the next bullish leg is around the corner.

Suggested Articles

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• How to Short Bitcoin?
  

Prices In Range

There has not been much fundamental developments over the weekend for the traders to be worried about or be happy as well and that is also one of the reasons for the consolidation that we are seeing in the prices as of this writing. We expect this sort of consolidation to continue in general, with a bearish tinge, over the next few days as the traders await the tax season to get over and the BTC futures to expire for this month before they launch the prices and begin to buy or sell the BTC according to the trend. Once again, we continue to believe in the bullish trend and we might see the beginning of the next leg pretty soon.



Read more : http://www.xtreamacademy.com/forex-forecast/bitcoin-ethereum-price-forecast-btc-prices-consolidate/

 

[xtreamforex]

BITCOIN PRICE FORECAST MARCH 27, 2018, TECHNICAL ANALYSIS

Bitcoin markets rolled over again during the trading session on Monday, as crypto currency markets continue to roll over and show signs of weakness. By the time the Americans got up, Bitcoin was down 4%.


BTC/USD

Bitcoin markets rolled over during the trading session during the day on Monday, breaking below the $8100 level. I think that the market will go down to the $80,000 level next, and then perhaps down to the $7000 level. The market has been struggling for some time, and currently it looks as if it isn’t going to change anytime soon. Rallies of this point will continue to attract sellers from what I see, and I think that it’s going to take a lot to turn this market around. It’s not until we break above the $10,000 level that I feel the buyers will start to gain the upper hand. The market has been losing volume, and quite frankly far too many retail traders are underwater to get involved again.

Read more : http://www.xtreamacademy.com/forex-f...ical-analysis/

 

[xtreamforex]

BITCOIN CASH, LITECOIN AND RIPPLE DAILY ANALYSIS – 03/04/18

Bitcoin Cash managed to close out Monday in positive territory, gaining 3.37% to end the day at $662.9, partially reversing Sunday’s 5.98% slide, while bringing to an end 7 consecutive days of losses.

The day was relatively less choppy than in recent weeks, with Bitcoin Cash seeing few sell-offs during the day and more importantly avoided an end of day pullback.

While there will have been some relief from Monday’s gains, Bitcoin Cash failed to touch $700 levels for the first time since the December rally, with an intraday high $686.2 falling short of the day’s first major resistance level of $688.2 and 23.6% FIB Retracement Level of $730.27.

Monday’s gains were certainly not impressive enough to suggest a reversal to the extended bearish trend formed back on 21st March, while an intraday low $636.4 managed to avoid testing the first major support level of $608.4.

Following Monday’s gains, Bitcoin Cash was up 3.58% to $683.9, with investors brushing off an early morning $657 low, as sentiment across the cryptomarket continued to improve off the back of Monday’s gains.

A morning $695 high tested the day’s first major resistance level of $687.27 early, with resistance at the psychological $700 level pinning back any move through to the day’s 23.6% FIB Retracement Level of $730.27.

For the day ahead, a move back through to the morning high $695 would be needed to support a run at the 23.6% FIB Retracement Level, with such a move likely to begin signalling a short-term bullish trend formation that would draw in side lined investors looking to ride out the bearish trend formed on 21st March.

Failure to break through to $700 levels could test investor appetite later in the day and lead to a pullback to this morning’s lows, though we would expect support levels to remain untested today, the key milestone for Bitcoin Cash being to move through to and hold on to $700 levels by the end of the day.

Click Here To Read LITECOIN AND RIPPLE TECHNICAL ANALYSIS

 

[xtreamforex]

EUR/USD Forecast: March low at 1.2239 a line in the sand​

1. EU data disappointed, with economic activity expanding at the weakest pace since early 2017.
2. EUR/USD about to challenge March's low, large stops suspected below it.

The strong comeback in Wall Street from Wednesday lifted market's mood, and the advance is being replicated all through Europe. The American dollar is up against all of its major rivals, with the Canadian dollar being the most reluctant to give up to ongoing greenback's strength. The EUR/USD pair trades at the lower end of its March range, now around 1.2260, with the common currency further undermined by softer-than-expected final services and composite PMI in the Union. According to Markit, economic activity expanded at the weakest pace since the start of 2017 in March, with the final Markit Eurozone PMI Composite Output resulting at 55.2, from 57.1 in February, and a previous estimate of 55.3. Expansion moderated in both, the services and the manufacturing sector. Retail Sales in the EU rose just 0.1% in February, well below the expected 0.5%, while the PPI came in at 1.6% YoY, slightly above market's expectations.

Later in the day, the US will release Challenger Job Cuts, Initial Jobless Claims and the February Trade Balance. These figures are not enough to shake the market, but employment-related ones will be closely watched ahead of Friday's Nonfarm Payrolls report.
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[xtreamforex]

EUR/USD moves higher to 1.2280 ( US Session Updates )​

1. The pair gathered extra traction on increasing USD-selling.
2. USD plummets to fresh lows in the 90.20 region tracked by DXY.
3. Rising US-China concerns revived the risk-off trade, hurting the buck.
4. EUR/USD has found fresh buying interest and is now flirting with daily highs in the 1.2270/80 band.

EUR/USD bid on risk aversion

The selling pressure around the greenback is now intensifying after President Trump’s Advisor L.Kudlow stressed there is no timetable regarding US-China tarde negotiations, adding at the same time that the Chinese reaction to US measures has been so far unsatisfactory.

Kudlow’s comments triggered a bout of risk aversion that accelerated the inflows into the safe haven assets, particularly the Japanese Yen, motivating a quick drop in USD/JPY with the resulting USD sell off.


In addition, recent Non-farm payrolls seem to have given extra oxygen to the view of a more gradual interest rate path by the Federal Reserve in the next months (at least not as aggressive as previously estimated by market participants), all weighing down on the buck.

Despite the ongoing squeeze higher, spot keeps the bearish note intact this week, retreating for the second week in a row to levels last seen in late February. The down move motivates once again the 1.2200 handle and the 1.2165/55 band to emerge on the investors’ horizon.



EUR/USD levels to consider

At the moment, the pair is advancing 0.20% at 1.2266 and a break above 1.2312 (10-day sma) would target 1.22346 (high Apr.2) en route to 1.2478 (high Mar.27). On the other hand, immediate support aligns at 1.2216 (low Apr.6) seconded by 1.2206 (low Feb.9) and then 1.2165 (low Jan.18).

 

[xtreamforex]

AUD/USD FALLS BACK INTO 0.7750 AS INFLATION EXPECTATIONS, HOME INVESTMENTS FUMBLE

· The Aussie is struggling to maintain bullish momentum as risk appetite sours and Aussie data falters.

· The macro calendar is clear for the Aussie for the rest of the week and market sentiment is getting dragged down by the ongoing Syrian crisis.


The AUD/USD is tripping back into the 0.7750 zone after the Aussie lifted into 0.7770 in the overnight session to challenge yesterday’s highs, but the move has been hobbled and the AUD/USD is backing away from the high on disappointing macro figures.

Further reading – Australia inflationary expectations fell slightly in April

Australia inflation expectations declined slightly to 3.6 percent from the previous 3.7 percent today, and after that Investment Lending for Homes only lifted by 0.5 percent, a decline from the previous 1.1 percent. Home Loans data beat the expected -0.6 percent forecast to print at -0.2 percent. The figure is an improvement over the previous reading of -1.1 percent, but still a declining number.

The Aussie has rallied lately after China appeared willing to meet the US at the negotiation table based on Chinese President Xi Jinping’s words at the Boao Forum, but the market risk appetite is evaporating as Middle East tensions over Syria threaten to spill over in the UN.


AUD/USD Levels to watch

The pair is going to start challenging support if the decline continues, and as FXStreet’s own Flavio Tosti noted earlier, “the AUD/USD has rebounded from its 200-period simple moving average and is currently trading in the 0.7740-0.7773 range. Support lies at 0.7728, previous swing and at 0.7691 demand level. Resistance is seen at 0.7770 which is the high made on Tuesday and further up at 0.7845 swing low on March 13.”


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[xtreamforex]

GBPUSD Forecast | Daily Technical Analysis for January 25, 2017

GBPUSD Technical Forecast Overview

Yesterday Closed 1.2521

Today Open 1.2521

Day’s Range 1.2513 - 1.2542

52 wk Range 1.1450 - 1.5020

1-Year Return - 12.04%

GBPUSD Technical Support and Resistance
Possible trading range for today 1.2513 - 1.2542

GBPUSD pair possibly will find the immediate support at 1.2442. If, market breaks the first support then it will go for the following support to test. Following supports are 1.2363 and 1.2311.

On the other side the market has immediate resistance at 1.2573. If, market breaks the primary resistance level then, market will go for the new resistance level 1.2625 and 1.2704.

GBPUSD Fundamental Analysis
We had mentioned the same thing in our forecast yesterday where we had said that the ruling was expected to uphold the earlier decision which made the Parliament approval mandatory. We had also mentioned that though this would be good for the pound overall, there was a likelihood of a buy the rumor, sell the fact kind of move and this is what we saw yesterday as well as the pair crashed through 1.2500 and went as low as 1.2420 following the ruling but then it spent the rest of the day recovering. As of this morning, it has managed to recover its entire loss and sits below 1.2550 and we believe that this move in the pound has the legs to carry it as far as 1.27 or 1.28. This ruling is positive for the pound in the short term but its long term effects and the subsequent delays could place a lot of pressure on the pound in the medium term.

We do not have any major news from the UK but we have the oil inventory data from the US later on in the day which has the capacity to bring in risk into the markets. We believe that the GBPUSD pair will consolidate through the day with a bullish bias.



EURUSD Forecast | Daily Technical Analysis for January 25, 2017

EURUSD Technical Overview
Yesterday Close 1.0731

Today Open 1.0731

Day’s Range 1.0722 - 1.0738

52 wk Range 1.0339 - 1.1616

1-Year Change - 1.09%

EURUSD Technical Support and Resistance
Our Possible trading range for today 1.0722 - 1.0738

EURUSD pair possibly will find its immediate support at 1.0707. If, market breaks the first support then it will go for the following support to test. Following supports are 1.0683 and 1.0649.

On the other side, we found immediate resistance at 1.0765 from our EURUSD technical analysis. If, market breaks the primary resistance level then, for sure market will go for the new resistance level 1.0799 and 1.0823.

EURUSD Fundamental Analysis
We had mentioned in our forecast yesterday that the EURUSD pair was at a crucial region of resistance which it would find hard to break through soon and that’s what we have been seeing over the past 24 hours as the pair consolidates just below that region, unable to find a way through. And with the twitter happy President of the USA also choosing to remain silent for a day, contrary to his character, the dollar also got a little breather and it managed to hold its own against all the currencies and this was another reason for the consolidation and ranging in the EURUSD pair.

We have the German IFO business climate which is expected to continue to show up the strong German economy and we also have the oil inventory data from the US and any drop in that should be able to increase the oil prices and increase the risk around the markets.

 

[xtreamforex]

BITCOIN – NEXT STOP $8,000
Bitcoin came under fire in the early part of the morning, with support levels kicking in to avoid sub-$7,600 levels, a midday rally needed to return to $7,700 levels and bring $8,000 into sight.
Bitcoin gained 1.05% on Sunday, following Saturday’s 1.56% rise, to end the week up 5.16% to $7,718.
A choppy start to the day saw Bitcoin hit $7,668.1 before an early intraday low $7,600 that held well above the day’s first major support level at $7,486.8, leading to a mid-morning rally to an intraday high $7,779, breaking through the 23.6% FIB Retracement Level of $7,738 to test the day’s first major resistance level at $7,744.1 before easing back into a relatively range bound afternoon.
The hold at $7,600 was key for Bitcoin through the early part of the day, while Bitcoin’s gains continued to lag the majors and those of Bitcoin Cash in particular.
For the Bitcoin bulls, the good news was Bitcoin striking $7,700 and not only testing the day’s first major resistance level, but also selling pressure at the 23.6% FIB Retracement Level at $7,738 that had been left untouched since the 24th May, which was also the last time that Bitcoin had hit $8,000 levels.
While Bitcoin’s gains may not have been as spectacular as some of its peers, the moves from 29th May’s swing lo $7,040 supports a near-term bullish trend, though Bitcoin will need to hold at around the $7,700 level to avoid a snap back and resumption of the extended bearish trend formed at 5th May’s swing hi $9,999.
On the news front, there was very little to get in the way of the recent upward trend though caution is still needed until there is greater clarity on the intentions of governments and regulators in key jurisdictions on the degree of cryptomarket oversight needed.
Get Into Cryptocurrency Trading Today
At the time of writing, Bitcoin was down 1.41% to $7,609.3, with a start of the day $7,764.0 high falling short of the day’s first major resistance level at $7,798, leading to a pullback through the morning, with Bitcoin calling on support at the 23.6% FIB Retracement Level of $7,605 to avoid giving up $7,600 levels, Bitcoin having found little support at the day’s first major support level at $7,619.
It’s a sea of red on the cryptomarket’s leader board, though Bitcoin and Bitcoin Cash have seen modest losses relative to their peers in the early hours of the morning.
For the day ahead, a move back through to $7,700 levels will be needed to bring the day’s first major resistance level at $7,798 into play, the bulls now eyeing a return to $8,000 levels, though the near-term bullish trend will need to resume quickly to avoid a reversal and resumption of the extended bearish trend that would bring sub-$7,000 levels back into play.
Failure to move back through the day’s first major support level to $7,700 levels could see Bitcoin face heavier selling pressure later in the day to bring the day’s second major support level at $7,520 into play, with any testing of support at the 38.2% FIB Retracement Level of $7,497 likely to test the legs of the near-term bullish trend.
The start of the week moves across the cryptomarket suggest that $8,000 levels may be off the cards in the near-term for Bitcoin, though it wouldn’t be the first time that Bitcoin rebounds through the middle part of the day.

 

[xtreamforex]

FOREX TODAY: BOJ DRIFTS FURTHER FROM ITS PEERS, YEN ON THE DEFENSIVE
The Japanese Yen reported losses in Asia and could extend the decline in Europe as the Bank of Japan (BOJ) squashed the already low odds of the QE taper by offering a bleaker view on inflation.

The BOJ’s move to cut assessment of inflation only underscored the rising divergence between the central bank and its peers – Fed and ECB. The US central bank hiked rates by 25 basis points and signaled faster rate hikes earlier this week. Meanwhile, the European Central Bank (ECB) pulled the plug on its QE program.

So, yield differentials will likely continue rising in the JPY-negative manner in the near future. Only a full-fledged trade war and risk aversion could put a strong bid under the anti-risk JPY. Reports hit the wires in early Asia that Trump administration is set to impose tariffs on about $50 billion in Chinese imports.

As of writing, there are no signs of panic in the market. The S&P 500 futures are flatlined and the Japanese Yen is flashing red.

However, the situation could take a turn for worse if Trump imposes tariffs on China and the world’s second-largest economy announces tit-for-tat measures. In this case, Yen crosses will likely come under fire.

What’s brewing in majors?

EUR/USD faces biggest weekly loss since November 2016.

EUR puts bias is strongest in two-weeks, investors expect a deeper drop in the common currency.

GBP/USD created a bearish outside-day candle on Thursday, putting bears back into the driver’s seat.

USD/JPY looks north on Fed-BOJ monetary policy divergence.

AUD/USD suffered a bear flag breakdown – a bearish continuation pattern and hit a one-month low in Asia.

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[xtreamforex]

AUD/USD HIT ONE-MONTH LOW AFTER BEAR FLAG BREAKDOWN
The AUD/USD pair hit a one-month low of 0.7453 in Asia and looks set to extend losses further.

The spot closed at 0.7479 yesterday, confirming a bear flag breakdown – a bearish continuation pattern, which indicates the sell-off from the April 19 high of 0.7813 has resumed and the pair could drop to 0.7125 (target as per the measured height method) in short-run.

The AUD also looks weak from the fundamental perspective. The Fed raised rates by 25 basis points earlier this week and signaled faster rate hike path. Meanwhile, the RBA is not seen raising rates any time soon.

Thus, US-Australia bond yield differential will likely continue rising in the USD-positive manner.
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[xtreamforex]

EUR/USD FACES WORST WEEKLY LOSS SINCE NOVEMBER 2016, CREATES BEARISH OUTSIDE-WEEK CANDLE
Currently, the EUR/USD pair is trading at 1.1567 – down 1.7 percent week-on-week – its worst weekly losses since November 2016.

ECB’s Draghi pulled the plug on the QE program yesterday, still, the EUR dropped more than 200 pips as the central bank head pushed out the first rate hike to end 2019. The QE taper gives the EUR an edge over the Japanese Yen but does little to support boost EUR/USD exchange rate as the Fed is planning to hike rates at a faster rate and the ECB is at least 1.5-years away from the rate hike.

Bearish revival

The EUR created a bearish outside-day candle yesterday. Further, the weekly chart also shows a bearish outside-week candle, indicating the rally from the recent low of 1.1510 has ended and the bears have regained control. So, EUR/USD could have a relook at 1.15 and could possibly break lower to 1.1412 (200-week moving average)
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[xtreamforex]

GBP/USD LACKING THE MOMENTUM TO RECOVER TO 1.34
The GBP/USD is flat for Monday, sifting just beneath Friday’s close near 1.3270.

The first half of this week is shaping up to be a quiet affair for the Sterling, with little of note on the economic calendar until the Bank of England’s (BoE) next rate decision due on Thursday; The BoE is widely expected to stand pat on rates for now, and previous market expectations for a rate hike sometime in the fourth quarter are looking far-fetched as economic data for the UK resumes missing expectations. This Thursday is widely expected to see the BoE remain on hold and keep the interest rate at 0.5%.

Prime Minister Theresa May largely won in the House of Lords last week, achieving the desired outcome from a series of votes on key Brexit topics, and has managed to keep parliamentary hard-line Brexiteers out of ongoing negotiations with EU leadership in Brussels, though the PM’s wins on Brexit are a double-edged sword for the UK to fall on: failure to secure suitable trade deals with the EU is more likely to see a hard-Brexit scenario unfold.

GBP/USD levels to watch

The Sterling has slumped away from a technical correction this month, and as FXStreet’s own Valeria Bednarik noted on the GBP/USD’s technical outlook: “the downside is favored as in the daily chart, the pair settled below a now bearish 20 DMA at 1.3345, while the RSI hovers near oversold reading. The Momentum indicator, however, remains flat around its 100 level, as the pair held above the bottom of its previous 3-week range. In the 4 hours chart, the bearish potential is stronger, as the pair ended well below bearish moving averages, while technical indicators resumed their declines after the recovery of oversold readings stalled short of their midlines.”
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[xtreamforex]

GOLD FELL TO LOWEST LEVEL SINCE DEC. 26, CALLS LOSE VALUE
Gold fell to fresh 2018 low of $1,275 on Friday, having failed to scale the key resistance at $1,302.76 in a convincing manner for three straight weeks.

The sell-off put focus back on the double top reversal seen in mid-May and has opened doors for a drop to $1,240 (double top breakdown target as per the measured height method).

Also, the demand for XAU calls weakened following a drop to 2018 lows, risk reversals indicate.

XAU/USD one-month 25 delta risk reversals fell to 0.40 today – the lowest level since May 23, signaling falling demand or falling implied volatilitypremium for XAU calls.
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[xtreamforex]

BITCOIN AND ETHEREUM PRICE FORECAST – BTC PRICES ABOVE $6600
The prices have moved higher and likely to remain buoyant.

The BTC prices received a boost over the last 24 hours and now we see the prices peeking above the $6600 region as of this writing. This is likely to keep the demand for BTC high as more and more traders and investors are likely to be enticed into the market in the hope of the next bull run happening in due course of time. We expect a lot of selling to happen in this region and so it would be better to wait and see the price action before jumping into the trades. So far, the moves have been quiet and steady and there have not been any major signs of a breakout as yet and hence it is important that the price action is closely watched.

BTC Prices Buoyant
Much of the move has happened over the last few hours which shows that the demand from Asia, especially from countries like South Korea and Japan have been high over the last few hours. There have not been any major fundamentals to rock the markets are yet except for the news that the South Korean authorities are likely to go slow on regularisation as they do not want to give credence and legality to the cryptos just as yet. It is clear that as more and more countries begin to regulate the crypto markets, it would only mean that more and more legitimate investors and traders are likely to enter the markets in due course of time.
Read more:http://www.xtreamacademy.com/cryptocurrency-news/bitcoin-ethereum-price-forecast-btc-prices-6600/ [edited by moderator]

 

[xtreamforex]

EUR/USD: PUTS IN DEMAND AHEAD OF DRAGHI’S SPEECH
The EUR/USD one-month 25 delta risk reversals fell to -1.05 today – the lowest level since May 30, indicating a rising implied volatility premium (rising demand) for the EUR puts (sell EUR). The risk reversals gauge stood at -0.23 on June 7.

The options market data indicates the investors are likely hedging/seeking downside protection against a deeper sell-off in the EUR/USD pair. As of writing, the spot is trading at 1.1642.

The common currency could revisit post-ECB low of 1.1543 and could possibly break below the recent low of 1.1510 on escalating US-China trade tensions and political uncertainty in Germany. Also, bears may hit the market with fresh offers if the ECB President Mario Draghi reiterates dovish end the central bank’s QE program. The central bank chief will deliver introductory speech ECB Forum on central banking today.
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[xtreamforex]

GOLD PRICE FORECAST – GOLD MARKETS FALL AGAIN ON TUESDAY
Gold markets fell again during the day on Tuesday, breaking through significant support at the $1275 level. This is an area that has offered support more than once, so breaking down through there is of course a negative sign. However, one has to believe that sooner or later value hunters will return.
The strengthening US dollar in the Forex market certainly has played a certain amount of part two the selloff in gold, as it takes less of those US dollars to buy gold. By breaking through the $1275 level, we have seen significant support broken through, but as I record this it looks as if we are trying to bounce a bit, and therefore recover much of the losses. Quite frankly, as I record this video we are only down 0.25%, so it’s hardly what I would call some type of meltdown. I believe that the market will continue to churn back and forth as we worry about the trade tariffs between the United States and China.

It’s likely that this market will continue to struggle to keep gains, but I think that we may find the market trying to form some type of bottoming pattern eventually. By breaking through the uptrend line from the previous week, I believe that is a much more telling signal than anything else. I would be a seller of rallies, at least until we form some type of longer-term bottoming pattern, at the very least a daily hammer or better. Overall, I think that the US dollar will continue to strengthen as long as there are trade tensions between the US and China, as people running towards treasuries will provide a natural lift for that currency. However, if trade tensions calm down, that will put pressure on the US dollar, and therefore I would look for gold to rally under those conditions.

 

[xtreamforex]

DASH TECHNICAL ANALYSIS – LOOKS FOR SUPPORT
DASH coughed up gains from the start of the day as the crypto bulls look to consolidate on Monday’s gains, DASH having seen more modest gains than most on the day.
Key Highlights

• 
  
  
  • DASH gained 1% on Monday, following Sunday’s 0.42% fall, to end the day at $267.45.
  • DASH fell through the day’s first major support level at $260.62 and second major support level at $256.29 to an intraday low $250.8 I the morning.
  • An afternoon rally saw DASH move through to an intraday high $267.26, the day’s high falling short of the first major resistance level at $269.96.
  • DASH Price Support
    DASH gained 1% on Monday, following Sunday’s 0.42% fall, to end the day at $267.45.
    
    It was a mixed day for DASH, with Sunday’s late reversal continuing on into Monday morning, leading DASH through the day’s first major support level at $260.62 and second major support level at $256.29 to an intraday low $250.8, the moves through the morning on the more bearish side relative to its peers.
    
    An early afternoon broad based market rally saw DASH move through to an intraday high $267.26, which fell short of the day’s first major resistance level at $269.96 and more importantly, the 23.6% FIB Retracement Level of $312, to leave the extended bearish trend formed at 24th April’s swing hi $547.967 intact.
    
    At the time of writing, DASH was down 0.54% to $263.46, the morning’s low, in what’s been a relatively choppy start to the day.
    
    Moves through the beginning of the morning saw DASH rally to an intraday high $271.54 before pulling back to sub-$270 levels, the day’s high falling short of the first major resistance level at $272.88.
    
    Failing to buck the broader market trend, the morning’s reversal saw DASH pull back to the morning $263.46 low, while DASH managed to avoid sub-$260 levels and the day’s first major support level at $256.41.
    
    Hopes of a continued rally through the morning, following a modest gain on Monday, fell as the broader market eased its way into the red through the early hours.
    
    For the day ahead, a move back through $268.50 would support a run back through to $270 levels, bringing the day’s first major resistance level at $272.88 into play, though investors will need to be confident that the broader market has managed to consolidate Monday’s gains through the early afternoon.
    
    Failure to move back through $268.5 to $270 levels could see DASH take a hit later in the day, with the first major support level at $256.41 in play in the event of a reversal, while we would expect DASH to hold above Monday’s $250.8 low on the day.
    
    The jury’s out on whether DASH and the cryptomarket has bottomed out, but for DASH to begin a bearish trend reversal, a move back through to $300 levels to take a run at the 23.6% FIB Retracement Level of $312 would be the first step.

 

[xtreamforex]

BITCOIN AND ETHEREUM PRICE FORECAST – BTC PRICES STEADY
The prices have been consolidating and ranging but the bulls should be encouraged by the gains that have been ade over the last few days.
The BTC prices continued to consolidate and range below the $7500 region which is something that was expected considering the breakout that we had seen during the middle of the week. Generally a breakout is followed by consolidation and then a correction back towards the highs of the range that had a breakout and we now await and see whether the correction happens. So far, it has not happened and it remains to be seen whether the correction would happen or whether the prices would continue to move higher after the consolidation phase is over. The bulls have established control and they should be happy now that they have been able to hold on to their gains over the past 2 days.
BTC Prices Holds on to Gains
This means that the breakout could be here to stay and it in turn would give a lot of confidence for those traders and the investors who are on the sidelines. It should also make the short sellers think twice before trying to short the market again and all this points to the continued bullishness in the markets over the short and medium term as well. The big investors, funds and the banks continue to queue up to enter the crypto market and also use the underlying blockchain technology to improve their infrastructure and the way that they do the transactions and all this points to a strong market in the future.
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[xtreamforex]

JAPANESE YEN STEADY AFTER CPI DATA, LOOKS NEXT TO TRADE WAR RISK
TALKING POINTS:

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  • Japanese Yen looks past mostly in-line local inflation data in favor of sentiment
  • National CPI is still well under the Bank of Japan’s 2% inflation target
  • Yen may rise as trade war tensions may increase risk aversion

The Japanese Yen started Friday’s trading session only slightly affected by the release of local inflation data, holding steady against its US counterpart as anticipated. June’s national CPI was 0.7%, lower than economists’ forecasts of 0.8% and in line with May’s result. The gauge excluding fresh food matched forecasts, clocking in at 0.8%, a slight uptick from the prior 0.7%. The one further excluding energy was 0.2%, lower than both the 0.4% expected and 0.3%prior.
Despite the narrow disappointment, the Yen barely moved as the Bank of Japan is unlikely to see the data as a reason to consider a change in monetary policy. Japanese inflation has been consistently below the central bank’s “sustainable two-percent inflation” target. In addition, the BOJ is currently engaged in a large-scale quantitative and qualitative easing program in order to nudge CPI up.
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