Thread: Forex daily News FBS

News to trade on November 1

Check the candles: http://bit.ly/2CVcjsD

01.11.2018

The main event for today is the Bank of England monetary policy summary and the press conference held by Mark Carney afterward. While there is no expectation of a rate hike, the GBP can be supported by the hawkish comments. Yesterday the UK Brexit minister Raab was confident about reaching the Brexit deal on the 21 of November. It lifted GBP/USD towards the resistance at 1.2895. Hawkish statements by the Bank of England can make the pair to stick above2895. Negative news can push the cable down to the support at 1.2704.


The Chinese government announced further plans for stimulating the economy as the manufacturing data continues to decline, following the trade tensions between the US and China. It lifted the risk-on sentiment among the investors and made the risk currencies, such as the aussie and the kiwi to rise. AUD/USD crossed the resistance at 0.7134 towards the next resistance at 0.7164 (50-day MA). If the USD is strong or the uncertainties across the equity market increase, the pair will drop below the support at 0.7077. As for NZD/USD, the pair followed the same scenario. Up to now, it is testing the resistance at 0.6594. Strong USD will make NZD/USD to drop below 0.6529.


The Chinese yuan, in its turn, rose from its weakest level. USD/CNH fell below the support at 6.9529. The next support is at 6.9287. If the USD is strong, the pair will go up to the resistance at 6.9522.


The US dollar index is declining following the strong gains across the equity markets. The next support for the price lies at 95.15. The upcoming release of manufacturing PMI for the US at 17:00 can change the situation. Despite the index is expected to drop to 59 from 59.8 points, a higher-than-expected data can support the USD. In that case, the resistance for the price lies at 96.76.

It seems like the risk-on market sentiment does not affect the direction of the price for the Gold. The price surged above the resistance at $1,221. However, higher-than-expected ISM manufacturing PMI can support the USD and thus push the commodity downwards the support at $1,208.

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Weekly CryptoNews

More at: http://bit.ly/2PzZcnf

02.11.2018

Tom Jessop, head of Fidelity Digital Asset Services: “I think we are starting to see an acceleration… I don’t know what phase (innovator, early-adopter, early majority, etc.) we are in, but I think that with some of these recent announcements we are now seen as this interesting and transformative asset class… So, we can expect more news heading into 2019 that raises the bar and helps growth in the [crypto and blockchain] market.”

Happy Birthday, Bitcoin! 10 years ago Nakamoto published the whitepaper of the granddad for all cryptocurrencies. It has been a complicated period for the digital asset with its ups and downs, however, a lot of achievements have been made since the beginning of its route. We wish it more recognition and adequate regulations in the upcoming years. Finally, to reach the moon!

Last days Bitcoin was making small movements towards this direction. Digital asset rose from the fall after the hacking attack of the Canadian crypto trading platform MapleChange. On Thursday, the price for Bitcoin tested the resistance at $6,394. If Bitcoin is supported by positive events, it can rise to the next resistance at $6,509. In case of negative news, the pair will fall to the support at $6,334. In case of the breakthrough, the next support at $6,218.



Altcoins:

Stablecoin Tether stabilized, however, it has lost around 1 billion of its capitalization.

Regulations:

Financial Services Authority (FSA) will review the ban of crypto derivatives in 2019.

New releases:

Canadian crypto trading platform Maplechange announced the hackers stole all of its money and afterward deleted its site. Scam alert?
Bank of America patented the method of holding private keys, which can be used in cryptocurrencies.
Ernst&Young presented a new tool for private transactions on the Ethereum public blockchain, using a protocol with zero disclosure.
Vitaly Buterin announced Ethereum 2.0, which will work on POS-mining.
Hong Cong trading platform HKEX will apply Blockchain to analyze the trading results.
Bithumb will launch a platform with security tokens in the US as a partnership program with SeriesOne investment company.
JP Morgan is planning to tokenize gold using its blockchain Quorum.
Venezuela’s controversial cryptocurrency Petro was released. It can be bought only from the Superintendency of Cryptoassets and Related Activities (Sunacrip).

Other:

John McAfee will run for president in 2020 to promote cryptocurrency. Will he make Bitcoin great again?



Bitcoin $6,406.8(+0.57%)

DASH $157.6 (+0.46%)

Ethereum $200.35 (+0.89%)

Litecoin: $50.5 (+1.90%)

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5 important things this week will bring us!

More at: http://bit.ly/2QktRCp

05.11.2018

US ISM non-manufacturing PMI (Mon, 17:00 MT time) – the level of business conditions for the service sector is expected to moderate from 61.6 to 59.3 for October. The increase of the index in September was unexpected and connected with an improvement in the sub-indices. If the actual level outperforms the forecasts, the US dollar index will rise.
Reserve bank of Australia (RBA) rate statement (Tue, 5:30 MT time) – we do not anticipate the rate hike, however, the press release may contain clues to the future revisions of the bank's policy.
Reserve bank of New Zealand rate statement (Wed, 22:00 MT time) – the central bank of New Zealand will conduct its press conference. As well, we expect the interest rate to remain at 1.75%, but the bank can throw some hints on changing its monetary policy.
US Federal funds rate and the Federal open market committee (FOMC) statement (Thu, 21:00 MT time) – We can expect the FOMC to downgrade its assessment of business investment growth after the slowdown in nonresidential fixed investment growth. The falls in equity prices tightened the financial conditions of a country, so the FOMC may discuss some measures to support the economic conditions.
British preliminary GDP q/q (Fri, 11:30 MT time) – the economic growth for the 3rd quarter is forecast to increase to 0.6%. A higher-than-expected level will support the GBP.

Hot topics:

The US anticipates the midterm congressional elections on Tuesday, November 6. The preliminary data suggests Democrats are most likely to take control of the House, while Republicans will continue to control the Senate. If the Republican Party keeps controlling most of the sits, the USD will be supported. In case Democrats will win, the greenback most likely will fall.
UK Brexit Secretary Raab continued the negotiations on the Irish border. He wants the UK Prime minister Theresa May to take the hard line over it. Earlier, she announced the final paper on Brexit deal will be out on Tuesday.
The Chinese president Xi made a statement about his plans on the open country economy to the world amid the trade war with the US.

Have a successful week of trading!

How to use volume indicators in trading?

http://bit.ly/2PErSf7
Forex market is decentralized so it’s not possible to count all the contracts and their sizes like it’s done at stock markets. As a result, Forex traders use indicators of tick volume. Read in this article how to work using volume indicators.
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News to trade on November 7

Here the candlesticks: http://bit.ly/2Qm0mjC

07.11.2018

During the mid-term Congressional elections in the US, the Democrats took more than 30 sits in the House of Representatives. The Republicans will have the control of the Congress. The divided Congress will make it difficult for US president Trump to apply any arguable domestic reforms such as immigration reform and reform on infrastructure investments. That is why analysts anticipate Trump to pay attention to foreign and trade policies. The election results weakened the USD, making the US dollar index test the support at 95.72. If the USD is supported, the index will rise towards the resistance at 96.35. Otherwise, it will fall below 95.72.


The weak greenback strengthened other key currency pairs.

The pair EUR/USD got the upside momentum from the election results and the risk-on sentiment in the equity market. For now, it is testing the resistance at 1.1461. A further weakness of the USD will help the euro to stick above 1.1461. However, negative news in the Eurozone can pull the pair downwards to the support at 1.1381.

GBP/USD continues to move up on this week’s Brexit hopes and election results. Yesterday, the cable rose to the resistance at 1.3105. More concerns on the Brexit outcome can help the pair to climb above 1.3105. The next resistance lies at 1.3248. However, new uncertainties can push GBP/USD below 100-day MA at 1.3036. In that case, the support level to watch is at 1.2899.

The weak USD also affected USD/JPY. The risk-on sentiment in the equity markets did not hold the pair near the resistance at 113.797. On a daily chart at 10:30 MT time, the election results made the USD to trade against the JPY in the red zone. If the pair extends falls, the support is at 112.785. In case the USD is supported by the news, the pair will return to the resistance at 113.797.

In other news, the most anticipated event for today from the economic calendar is the press conference of the Reserve bank of New Zealand at 23:00 MT time. No major changes to its monetary policy are expected, however, the bank can surprise with the hawkish comments, especially after yesterday's strong employment release. The unemployment rate fell to 3.9% (vs 4.4% expected) and employment change increased by 1.1% (vs. 0.5% expected). As a result, the NZD blew off crossing the resistance at 0.6719. For now, NZD/USD is targeting the resistance at 0.6793. New negative comments on the trade war can weaken the kiwi and push it below 0.6719. Hawkish comments from the RBNZ can help it to stick above 0.6793.

Yesterday, Iran’s oil minister said the sanction from the US would not cut Iran off the oil markets. Earlier, Trump commented the sanctions would come into effect slowly to avoid the high prices. In addition, the US allowed 8 biggest importers keep buying Iranian oil. Brent fell to its August levels trading near $71.94 per barrel. The support for the price lies at $70.47. Today we anticipate the release of crude oil inventories. If the data is lower than the forecast, the prices will rise and the resistance to watch is at $74.24.

As for WTI, it fell to $61.94 per barrel. The next support is at $61. Shortage of oil production will push the price to the resistance at $64.45.

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Beginner most common questions about Forex.

When is Forex market open?

There are trading sessions which correspond to the time during which stock markets are open in a particular region of the world. Learn more about this here http://bit.ly/2DdAUJt
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Weekly CryptoNews

More at: http://bit.ly/2zAGDVW

09.11.2018

BitMEX CEO Arthur Hayes: “Contrary to popular belief, Bitcoin requires volatility if it is ever to gain mainstream adoption. The price of Bitcoin is the best and most transparent way to communicate the health of the ecosystem. It advertises to the world that something is happening–whether that is positive or negative is irrelevant.”

The week started bullish for Bitcoin. On Wednesday, the price crossed the resistance at 50-day MA at $6,516 and afterward tested the next psychological resistance at $6,563. However, it failed to continue moving towards $6,662 and bounced back below $6,516. Despite the market speculations, the volatility of the digital asset remains extremely low. ATR is situated at its lowest levels. If buyers take over, it can push the price towards $6,516 again. In case of a bear market, the support lies at the pivot point at $6,400.

Other news:

Regulations:

The People's Bank of China is planning to ban airdrop as it can be used for conducting hidden ICOs.
Taiwanese financial regulator banned anonymous crypto transactions and obliged trading platforms to pass personal data of clients to it.
The Swiss financial market supervisory authority advised banks to set the risk coefficient for crypto assets at 800% to cover market and credit risks, regardless of whether the positions are held in the banking or trading book.
Tax regulating department of Thailand is planning to use blockchain for following the tax evasions.
Government banks of Venezuela started to show the sum on clients’ accounts in Petro cryptocurrency.
The Brazilian prosecutor's office started the investigation of the money-laundering through Deltec Bank which is Tether partner.
The BBVA bank from Spain gave the first credit with financial data recorded in blockchain Ethereum. The approximate sum of the loan is $150 million.
The French government will make the taxation for crypto asset owners easier. The tax will reduce from 36% to 30%.

New releases:

OKEx launched margin trading of XRP/BTC and LTC/BTC. As a result, Ripple rose and outperformed Ethereum, while Litecoin ignored the news.
It’s now possible to buy Litecoin for the fiat currencies at Litecoin.com.

Events to trade on BTC, Ethereum, Litecoin and Dash in the upcoming week:

November 12 - Bitcoin (BTC) - Bakkt Bitcoin BTC Futures Launch

November 15 - Bitcoin Cash (BCH) - Hard Fork

Bitcoin $6,406.8(+0.57%)

DASH $168.1 (-5.9%)

Ethereum $200.35 (+0.89%)

Litecoin: $50.5 (+1.90%)

LESSON 21. Position size, level of risk http://bit.ly/2z0tBBK
Imagine you put $1000 on your deposit and you want to trade. Should you use the entire sum at once? Probably not: remember how we spoke about risk management? So, which position size to choose then?
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