Analysis Topic: Currency Market Analysis
The analysis published under this topic are as follows.
Thursday, June 15, 2017
The Pros and Cons of Bitcoin and Blockchain / Currencies / Bitcoin
By: Rodney_Johnson
In October 2015 we held our Irrational Economic Summit in Vancouver. The weather was awesome, and the conference went well. Part of the final session was a Q&A with Harry Dent, myself, and Dr. Lacy Hunt.At one point, an attendee asked about bitcoin.
I told the audience in no uncertain terms that bitcoin was effectively dead. Whether it died a quick death or lingered for years, the cryptocurrency could not survive because governments would not allow it.
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Wednesday, June 14, 2017
GBPUSD Broke below 1.2755 Support / Currencies / British Pound
By: ElliottWave-Forecast
GBPUSD recently broke below 1.2755 support on its daily chart, indicating that the short term bullish movement from the March 14 low of 1.2109 had completed at the May 18 high of 1.3047 already. Further decline would likely be seen over the next several weeks.
Wednesday, June 14, 2017
Bitcoin Price Corrects / Currencies / Bitcoin
By: Mike_McAra
Bitcoin is now a lot more popular among mainstream investors than it was only a couple days ago. This is perhaps evidenced by the fact that the digital currency made its way to Bloomberg Markets homepage. In the short piece we read:
Bitcoin rose as much as 5.8 percent to an all-time intraday high of $2,999.98. The virtual currency has tripled its value since the beginning of the year amid greater acceptance of the blockchain technology that underpins the exchange method, global political uncertainty and increased interest in Asia. Skeptics have said that there may be a bubble in the making as bitcoin has repeatedly broken records without showing signs of slowing.
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Wednesday, June 14, 2017
Bitcoin Is Mania And Not A Store of Value… I Sold-Out Last Week / Currencies / Bitcoin
By: John_Mauldin
By Stephen McBride : The price of Bitcoin has risen by 210% since March to over $2,900… and one of the world’s most successful investment strategists is warning investors to stay away.
Speaking at the Mauldin Economics’ Strategic Investment Conference, Raoul Pal—author and publisher of The Global Macro Investor, an elite macroeconomic and investment research service—said Bitcoin’s explosion upward is mania.
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Tuesday, June 13, 2017
USDCAD Broke below Channel Support / Currencies / Canadian $
By: Franco_Shao
USDCAD broke below the bottom trend line at 1.3435 of the price channel on its daily chart, suggesting that the uptrend started from the January 31 low of 1.2968 had completed at the May 5 high of 1.3793 already.
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Tuesday, June 13, 2017
Can Ripple catch the rally of Bitcoin & Ethereum / Currencies / Bitcoin
By: ElliottWave-Forecast
Ripple is the third-largest cryptocurrency by market capitalization, after Bitcoin and Ethereum. It’s distributed financial technology allows banks to efficiently settle transactions in real time. An alternative to today’s global payment infrastructure, Ripple eliminates time delays and ensures certainty of settlement, resulting in lower transaction costs for banks and their customers and unlocking new revenue opportunities.
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Monday, June 12, 2017
Cryptocurrencies: Intrinsic Value Boil Down / Currencies / BlockChain
By: The_Gold_Report
Bitcoin and other cryptocurrencies have exploded in value since their genesis in 2009; Lior Gantz, editor of Wealth Research Group, discusses the reasons why.
Wealth Research Group's main purpose is to provide cutting-edge special reports, and none could be more important than how to protect your purchasing power.
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Saturday, June 10, 2017
Is 2017 The Year Of The Bitcoin? / Currencies / Bitcoin
By: Boris_Dzhingarov
2016 was a huge year for Bitcoin. There were not many that predicted that the cryptocurrency was going to double in value. The common prediction was a top point of around $800. With this in mind, what will 2017 hold for BTC? Read full article... Read full article...
Thursday, June 08, 2017
GBPUSD Remains in Uptrend from 1.2109 / Currencies / British Pound
By: Franco_Shao
GBPUSD moved sideways in a trading range between 1.2756 and 1.3047. As long as the pair is above 1.2756 support, the sideways movement could be treated as consolidation of the uptrend from the March 14 low of 1.2109, and further rise could be expected after the consolidation. Near term resistance is at 1.3047, a break of this level could signal resumption of the uptrend.
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Wednesday, June 07, 2017
Bitcoin Hits New All Time High Near $3,000 As Cryptos Surpass $100 Billion Market Cap / Currencies / Bitcoin
By: Jeff_Berwick
Are we witnessing the biggest wealth transfer in human history? A case can certainly be made for it.
One year ago, cryptocurrencies as a sector had a market capitalization of only $11 billion. Looking back even further, four years ago, the entire sector including bitcoin had a market capitalization of less than $1 billion.
As of today, it has surpassed $100 billion.
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Wednesday, June 07, 2017
Bitcoin Price Appreciates Again / Currencies / Bitcoin
By: Mike_McAra
Bitcoin is creeping into the mainstream press. Last week, the digital currency was in the center of an article in the Economist. In the article, we read:
Markets frequently froth and bubble, but the boom in bitcoin, a digital currency, is extraordinary. Although its price is down from an all-time high of $2,420 on May 24th, it has more than doubled in just two months. Anyone clever or lucky enough to have bought $1,000 of bitcoins in July 2010, when the price stood at $0.05, would now have a stash worth $46m. Other cryptocurrencies have soared, too, giving them a collective market value of about $80bn.
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Monday, June 05, 2017
EURJPY Moved Sideways between 122.55 and 125.81 / Currencies / Forex Trading
By: Franco_Shao
After breaking above the major resistance of the December 2016 high of 124.09, EURJPY formed as sideways movement in a trading range between 122.55 and 125.81. All we can do now is to wait for the breakout to occur.
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Friday, June 02, 2017
Ethereum Showing Elliott Wave Path for Bitcoin Price / Currencies / Bitcoin
By: ElliottWave-Forecast
Ethereum is an open-source blockchain-based distributed computing platform featuring smart contract functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum also provides a crypto-currency token called “ether”, which can be transferred between accounts and used to compensate participant nodes for computations performed.
Friday, June 02, 2017
EURUSD Might be Forming a Double Bottom Pattern / Currencies / Euro
By: Franco_Shao
EURUSD might be forming a double bottom pattern on its weekly chart. The first bottom is at the March 2015 low of 1.0462, the second bottom is at the January 2017 low of 1.0340, and the neckline is from the August 2015 high of 1.1713 to the May 2016 high of 1.1616, now at around 1.1450. The price has to break through the neckline before confirming this reversal formation.
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Thursday, June 01, 2017
Bitcoin is in Consolidation of Uptrend / Currencies / Bitcoin
By: Franco_Shao
After hitting a new record of 2737, BTCUSD dropped sharply to as low as 1737. However, the fall would possibly be consolidation of the uptrend from 905. There is an ascending trend line from the March 25 low of 905 with support at around 1600 on its daily chart. As long as the pair is above the trend line, the price action from 2737 could be treated as consolidation of the uptrend and another rise could be expected after the consolidation.
Wednesday, May 31, 2017
USDCNH Remains in Downtrend from 6.9171 / Currencies / Forex Trading
By: Franco_Shao
After breaking below the triangle pattern on its daily chart, USDCNH dropped sharply to as low as 6.8010. Now the pair stays in a descending price channel on its 4-hour chart, indicating that the pair remains in the downtrend from the May 9 high of 6.9171. As long as the pair is in the channel, the price action from 6.8010 could be treated as consolidation of the downtrend.
Tuesday, May 30, 2017
Bitcoin Price Sees Most Important Action in Years / Currencies / Bitcoin
By: Mike_McAra
Bitcoin is right after a period of pullback from the recent all-time high. Is this move only a temporary correction or a beginning of a more sustainable move down? In an article on CNBC, we read:
Nearly $4 billion has been wiped off of the value of bitcoin in the past four days after a correction that has seen the cryptocurrency's price fall almost 19 percent from its recent record high.
On May 24, bitcoin hit an all-time high of $2.791.69. But on Monday, the digital currency was trading at an intra-day high of $2,267.73, marking a more than $520 drop or 18.7 percent decline since the record high, according to data from CoinDesk.
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Tuesday, May 30, 2017
USDCAD Is Facing Channel Support / Currencies / Canadian $
By: Franco_Shao
USDCAD has reached the bottom trend line of the ascending price channel on its daily chart which acts as support for the upside movement. As long as the price is above the bottom trend line, the pair remains in bullish structure and the fall from May 5 high of 1.3793 could be treated as correction of the uptrend from January 31 low of 1.2968, another rise towards 1.4000 could be expected after the correction. All we should do now is to wait for the breakout to occur.
Friday, May 26, 2017
Shari’ah-Compliant Crypto Gold: Could Islam Be Preparing for a New World Reserve Currency? / Currencies / Bitcoin
By: HAA
Shannara Johnson writes: It all started pretty harmlessly: in December 2016, after about 12 months of deliberations, the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) and the World Gold Council announced a new “Shari’ah Standard on Gold.”
The new standard was celebrated as a potentially big boost for global gold demand as it would give more than 2 billion Muslims in the world access to gold-based financial products that were previously forbidden to them.
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Friday, May 26, 2017
USDCNH Broke Below 6.8680 Key Support / Currencies / Forex Trading
By: Submissions
Franco Shao writes:After breaking below the lower support trend line of the triangle patter on the daily chart, USDCNH continued to break through the 6.8680 key support, indicating that the bearish movement from the January 3 high of 6.9867 has resumed. Further decline to test the support of the January 5 low of 6.7817 could be seen in a couple of weeks.
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