Based on general trend analysis, and the fact that Canada has so much fresh water (which will be a very scarce resource in the years to come), I believe that the Canadian dollar will slowly but surely overtake the US dollar during the 20's.
Metronome (www.metronome.io) is a built to last cryptocurrency originally created by Bloq, headed by Jeff Garzik (core bitcoin developer).
It has a unique auction mechanism that controls inflation of the money supply and built in converter contracts that provide liquidity in wallet in either direction (think a mini bancor). The converter contract currently has...
On September 5th I made a similar post comparing the daily chart to the 128 MA. It is much more detailed, however the conclusions didn't change much.
The TL:DR of the previous comparison reads as follows:
Bottom: $2,860 on October, 31st 2018
Range: $3,750 - $5,800 for 8 - 9 months
Breakthrough: $6,100 on June 21, 2019
Because the RSI is not oversold and we...
- Head and Shoulders Pattern completed
- Price retested neckline and broke through
- Could be due to price being oversold ?
- Price might not follow pattern as US economy is currently doing good ?
- If price retests again then trade would be safer to enter
As we announced, yesterday was relatively calm in the news. Regarding the dynamics of assets, the day can be called correctional, in the run-up to the publication of statistics on the labor market in the United States. The data will determine if the dollar experienced temporary difficulties yesterday, or if the concerns are more long-term. Read about our position...
Yesterday, the Fed expectedly raised the rate by 0.25% (among other things, the eighth rate hike since the US monetary policy vector reversal). That is, there were no negative surprises for the dollar in the form of non-availability of rates, as there were also no frankly positive force majors in the way of raising rates by 0.5%. In this regard, the rather mild...
The amount of opened short positions is skyrocketing again. From 17k on Aug 2, it more than doubled by the end of the month and almost hit the previous record of 40k+.
Combined with the recent influx of negative news, it may very well try to reach the new high in the nearest future:
SEC Quashes More Bitcoin ETF Pitches in Another Blow to...
US equities particularly DJIA, SP500 and NDX appear to be at overbought conditions. DJIA and SP500 reached new heights the past week, the highest since February. My analysis of the DJIA shows that the index has failed to reach the upper resistance line of the price channel that has formed over the last months. On top of this the recent high on the chart is showing...
Everyone is aware that Gold is a 'save haven' for forex traders when economic results are bearish for a certain asset. Meaning, when some economies are performing well, Gold will reciprocate and also become bearish themselves. This can be seen through the past two daily candle sticks after Germany, one of the top 7 economies, showed positive unemployment. -12K...
GBPAUD is bullish on H1, H4, D and W charts just like EURAUD. Technical analysis reveals a bullish butterfly pattern with some reliable potential reversal price levels based on support and resistance. However, it is important to do your own due diligence on the following fundamentals:
GBP: British Halifax House Price Index, British Industrial Production and...
Today was the day for the UK to show how well the economy is performing by its GDP result. Through fundamental analysis its previous result, the forecast for this quarter is GDP was 1.4%. Although it surpassed its forecast with an actual GDP of 1.5%. This resulted into a massive 108 pip increase within its first hour of result. Also, it has tested/broken the major...
Hey Everyone!
I have taken EUR/USD long this morning as you can see it on the picture.
Strong bullish movement in the past month
The last 4-6 days show a clear strength of EURO
Daily Chart signals engulfing candlestick pattern
A strong bounce from an Hourly trendline was expected (not on the picture)
All in all, I believe it's a good trade and still...
Long-term fundamental is bearish . US has big soybeans 0.23% stocks , export is falling. Harvest in Brazil and potentially big crop in South America adds bearish sentiment. Weekly chart shows rejection of VAH, price moves down inside balance, so I'm waiting the continuation of price falling.
Fundamental Analysis:
My sentiment for the long term of the GBP is bearish because its central bank leave its monetary policy unchanged, and with the Brexit the inflation is going to increase, therefor it is most likely to go down . The sentiment for Canada is slightly bearish, because the BoC are most likely to leave the monetary policy unchanged, but with most...
It could be said that it is slightly strange that the Euro isn't weaker. As of writing, EURUSD is trading at 1.1040 after seeing lows of 1.0458 back in February 2015. From March last year until February this year, EURUSD was in a very steep downtrend with a range of ~3500 pips. Since then, the pair has remained relatively stagnant, after seeing a bounce off of the...
