Analysis Topic: Currency Market Analysis
The analysis published under this topic are as follows.
Wednesday, August 16, 2017
Why Cryptocurrencies Will Never Be Safe Havens / Currencies / BlockChain
By: Submissions
by Mark Spitznagel : Every further new high in the price of Bitcoin brings ever more claims that it is destined to become the preeminent safe haven investment of the modern age — the new gold.
But there’s no getting around the fact that Bitcoin is essentially a speculative investment in a new technology, specifically the blockchain. Think of the blockchain, very basically, as layers of independent electronic security that encapsulate a cryptocurrency and keep it frozen in time and space — like layers of amber around a fly. This is what makes a cryptocurrency “crypto.”
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Saturday, August 12, 2017
Bitcoin Pushing Higher / Currencies / Bitcoin
By: Mike_McAra
The mainstream media are picking up on Bitcoin’s meteoric rise. In an article on CNBC, we read:
Bitcoin will likely outperform stocks and bonds the rest of this year, according to the first major Wall Street strategist to issue a report on the digital currency.
"I think bitcoin is an underowned asset with potential for huge institutional sponsorship coming," Fundstrat co-founder Tom Lee said on CNBC's "Fast Money" Wednesday.
Thursday, August 10, 2017
USDCHF Failed To Break Channel Resistance / Currencies / Forex Trading
By: Franco_Shao
USDCHF pulled back from 0.9772 to as low as 0.9611 after approaching the top resistance trend line of the price channel on its daily chart, indicating that the pair remains in the downtrend from the December 2012 high of 1.0343.
Thursday, August 10, 2017
The Strange Fall of the US Dollar / Currencies / US Dollar
By: Dan_Steinbock
As the exuberant Trump White House has been mugged by realities, US dollar is plunging to record lows.What a difference a year makes! Last November, US dollar hit its 13-year high. According to the US Dollar Index, which measures the currency against a basket of six other major currencies, the greenback soared to a peak of 103. By early August, US dollar is struggling around less than 93.
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Wednesday, August 09, 2017
USD/CAD - Can We Trust This Breakout? / Currencies / Forex Trading
By: Nadia_Simmons
Yesterday, the U.S. dollar rose against its Canadian counterpart, which pushed USD/CAD above the upper border of the declining wedge, but can we trust this breakout?
Wednesday, August 09, 2017
EURJPY Dropped Sharply to 128.70 / Currencies / Euro
By: Franco_Shao
EURJPY dropped sharply to as low as 128.70 after breaking below a major support trend line at 130.35 on its 4-hour chart. Further decline is still possible in a couple of days.
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Monday, August 07, 2017
Canadian Dollar Bullish Trend Reversal Triggered / Currencies / Canadian $
By: MarketsToday
Last week the USD/CAD currency pair triggered a bullish trend reversal as it rose above the prior week’s high and closed above it on a weekly basis. That’s the first time in 13 weeks that the pair closed above the prior week’s high. At the same time the 14-period Relative Strength Index (RSI) turned up from its most oversold position since October 2007 and crossed above the 30 line. Further, a double bottom breakout was triggered on the 4-hour chart (see below). This bullish price behavior follows support hit two weeks ago at 1.2412. That’s within the area of support from early-May 2016.
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Monday, August 07, 2017
BOOM! Bitcoin Rockets To New All-Time High As Cryptocurrencies Surge Higher! / Currencies / Bitcoin
By: Jeff_Berwick
All eyes were on bitcoin on August 1st, as it underwent the biggest change it had undergone since its inception in 2009.
After years of debate, the issue of scalability resulted in a fracturing of bitcoin onto two separate paths, now called Bitcoin and Bitcoin Cash.
The usual cast of characters came out to warn that this was the death of bitcoin. And, as it always seems to do, bitcoin pushed on unscathed.
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Sunday, August 06, 2017
BitCoin (GBTC) Cycle Update : Beware the Gap / Currencies / Bitcoin
By: SurfCity
BitCoin trades 24/7 and is surging this weekend into an ATH as shown on my first chart. GBTC made a new Trading Cycle high on day 14 Friday and may well gap up on Monday morning on day 15 if BitCoin is able to sustain its trend into next week. Note that my GBTC trade was up $1,718 at the close on Friday. Sure wish I had bought more but I do feel good at my entry point after closer analysis spotted the recent low as a 5-6 month Intermediate Cycle Low (ICL).
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Friday, August 04, 2017
NZDUSD Broke Above 0.7484 Resistance / Currencies / Forex Trading
By: Franco_Shao
After breaking above the resistance of the September 2016 high of 0.7484 high, NZDUSD pulled back from 0.7557, suggesting that a short term top had been formed on the daily chart.
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Thursday, August 03, 2017
Ethereum vs. Tangibleum: Why Cryptocurrencies Can Never Replace Physical Gold / Currencies / BlockChain
By: HAA
Shannara Johnson : On June 11, 2017, Bitcoin reached its all-time high of $3,025.47… followed by a 27.7% plunge only four days later.
By July 12, it had lost a total of $12 billion off its value within a month.
Ethereum, another popular cryptocurrency, increased its market share from a mere 5% at the beginning of the year to a breathtaking 30% in June, only to plummet 65% from its record-high by mid-July.
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Thursday, August 03, 2017
EURUSD Broke Above Neckline Resistance / Currencies / Euro
By: Franco_Shao
EURUSD broke above a major trend line from the August 2015 high of 1.1713 to the May 2016 high of 1.1616 at 1.1445 on the weekly chart, and extended its bullish movement to as high as 1.1908, indicating that a double bottom pattern had been formed.
Thursday, August 03, 2017
US Dollar Testing Long Term Support / Currencies / US Dollar
By: Submissions
Mike Golembesky : The U.S. Dollar has continued to fall hitting a low of 92.72 on Monday, July 31st. The U.S. Dollar also broke through shorter term support levels and is now closing in on long term support that could very well define the longer term trend over the next several years.
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Wednesday, August 02, 2017
USDCAD Broke Below 1.2460 Support / Currencies / Canadian $
By: Franco_Shao
USDCAD recently broke below an important support level at the May 2016 low of 1.2460 and reached as low as 1.2413, confirming that the long term downtrend from the January 2016 high of 1.4689 had resumed.
Wednesday, August 02, 2017
Bitcoin Hits New Combined All-Time High Above $3,000 After Bitcoin Fork / Currencies / Bitcoin
By: Jeff_Berwick
Many people considered today to be the most important day for bitcoin since its creation in 2009.
It was the first serious fork of the bitcoin chain into two different coins. Many people, including ourselves, were preparing for major volatility. And some people, like Mike Adams, said it was the death of bitcoin.
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Wednesday, August 02, 2017
GBP/USD - Will Currency Bulls Break above Long-term Resistances? / Currencies / Forex Trading
By: Nadia_Simmons
Although GBP/USD moved higher once again earlier today, currency bulls approached two very important resistances on their way to higher levels. Will they be strong enough to push the exchange rate above them?
Wednesday, August 02, 2017
Bitcoin in Trading Range / Currencies / Bitcoin
By: Mike_McAra
The BTC-e debacle continues with the U.S. government seizing the exchange’s website. Now, BTC-e has its data center seized by the FBI. On CoinDesk, we read:
(…) in a statement on the Bitcoin Talk forum (that was tweeted out via its official account), representatives for the exchange issued new comments, including a pledge to return users' funds.
Tuesday, August 01, 2017
GBPUSD Broke Above Channel Resistance / Currencies / British Pound
By: Franco_Shao
GBPUSD broke above the descending price channel at 1.3100 on its weekly chart, indicating that lengthier correction for the long term downtrend from the July 2014 high of 1.7190 is needed.
Tuesday, August 01, 2017
When Fiat Currencies Die - Preparing to Barter and Trade Is NOT a Loony Idea / Currencies / Fiat Currency
By: MoneyMetals
Let’s start with this fact; fiat (paper) currencies die – often spectacularly. That is why precious metals may someday be needed for barter and trade. Anyone who thinks it is silly to worry about such a thing is putting blind faith in Federal Reserve Notes.
The U.S. dollar is having a great run, no question. It will soon be 50 years since Nixon closed the gold window, thereby converting the dollar to a purely fiat currency. Five decades is longer than most purely fiat currencies survive.
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Saturday, July 29, 2017
Bitcoin Price Soars As Everyone Wants a Bitcoin Cash Lottery Ticket on August 1st / Currencies / Bitcoin
By: Jeff_Berwick
Bitcoin has been soaring in recent days and it is likely due to the fact that there will be a bitcoin hard fork on August 1st.
Many speculated that a fork would cause the price of bitcoin to drop. But that is far from the case. And it makes sense that the price is actually increasing on this news because if you hold bitcoin properly (more on that soon) you will end up with both Bitcoin (BTC) and Bitcoin Cash (BCC)... and we know from experience with the Ethereum fork into Ethereum and Ethereum Classic, that the two combined can be worth much more than just the one.
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