8 eightcap

8 eightcap

Joseph Jeffriess, Market Analyst in Eightcap
Eightcap is one of the leading CFD brokers in the market, providing online trading services to a wide range of clients from around the world. They offer 1,000+ CFDs based on Forex, commodities, indices, shares, and cryptocurrencies. The well-established trading company was founded in Melbourne, Australia, in 2009, and is regulated by the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Securities Commission of The Bahamas (SCB).

Trading plan for USDCHF on June 24, 2022

(CHF) Swiss Franc soars on Swiss National Bank hawkish surprise | Ebury

8 eightcap 8 eightcap 20.06.2022 18:11
Currency rankings last week were topped by an unusual winner, the Swiss franc. The Swiss National Bank joined the chorus of hawkish central bankers and surprised markets with a 50 basis point rate hike when no move was expected, sending the franc screaming higher against every other currency. The sharp fall in risk assets worldwide had a mixed impact on currencies. The euro held its own against the dollar after an emergency ECB meeting calmed peripheral debt markets. Emerging market currencies had a mixed week, some up, some down, without a clear theme driving performance.   Now that key central bank meetings are behind us, markets will focus on leading and coincident macroeconomic data to see whether recession fears evident in equity markets are justified. Thursday is shaping up to be a key day in this respect, as the PMIs of business activity are released in the Eurozone, the UK and the US. These are particularly informative in the first two. We expect all the indices in all of the three economic zones to remain consistent with continued expansion, which may alleviate recession fears. GBP The Bank of England provided investors with yet another change in direction at its meeting last week. While the hike was largely expected, there were three hawkish dissenters, no dovish ones, and MPC communications turned hawkish, emphasising flexibility in responding to inflationary surprises, including 50 bp hikes if needed. Sterling reacted well to the news, and though it lost some steam on Friday, it ended the week up against the US dollar. In addition to the key PMI release, we will see the inflation report for May released this week. A new record print could see markets price in more Bank of England hikes, and somewhat paradoxically serve to support the pound. EUR The ECB ad hoc emergency meeting, brought about by exploding spreads between peripheral sovereign debt and that of core countries, calmed the markets, in spite of the absence of details. While this was enough to put a temporary floor under the common currency, we expect that markets will demand details soon. This week’s scheduled ECB speakers could shed some much-needed light on the anti-fragmentation tool. Aside from that, Thursday’s advance PMIs should put to rest immediate contraction fears and could serve as a catalyst for a higher euro. USD The Federal Reserve reacted to the inflation surprise of the week prior with an outsized 75bp hike, the first one in three decades, and a strongly hawkish message. While stock markets and risk assets in general reacted as one would expect (negatively), the dollar performance was more mixed and it failed to put in a really convincing rally. The PMIs are generally less market moving in the US than elsewhere. Instead, there will be a lot of market focus on Fed chair Powell’s annual testimony to Congress, on Wednesday and Thursday, where we expect him to further clarify the extent to which the Federal Reserve is willing to constrain economic activity in order to bring inflation back down to target. To stay up to date with our publications, please choose one of the below: 📩 Click here to receive the latest market updates👉 Our LinkedIn page for the latest news✍️ Our Blog page for other FX market reports 🔊 Stay up to date with our podcast FXTalk   Source: Franc soars on Swiss National Bank hawkish surprise | Ebury UK
Crypto Focus: Prices Sink Lower as Crypto Malaise Spreads

Crypto Focus: Prices Sink Lower as Crypto Malaise Spreads

8 eightcap 8 eightcap 17.06.2022 13:26
Hi traders, well, another week, another heavy extension lower. This week’s selling really struck home as levels not seen in a while were reached on some coins. The most selling was seen on the top this week as it lost 22% while the top 25 lost 20%. Plenty of mental pain was seen over the last week as coins like Bitcoin and Ethereum hit levels not seen since 2020. Bitcoin came very close to breaking 20K, and Ethereum just missed breaking 1K. Solana hit 25.77, just about retracing the entire 2021 move. Is it a bit late to say the market is internally sick? I feel it is a bit. Confidence looks shot, and this tends to remind me of 2017/2018. Is this different? Could we see a new rally that moves are a more sustainable speed? Or have stable coins shown a fundamental weakness in the crypto world that has drawn trust out of the crypto dream? Sorry to sound so dramatic, but if you compare Bitcoin now to Bitcoin in 2017, you will see some similarities. Sirin Labs has not followed the overall market trend as it has seen ridiculous gains over the last two days. Price looks to have been helped by news that a blockchain-backed smartphone backed by football superstar Lionel Messi is set to be released in November. The market looks to approval as price of SRNUSD has exploded by over 1200% in the last two days. The post Crypto Focus: Prices Sink Lower as Crypto Malaise Spreads appeared first on Eightcap.
Crypto News: Cardano focus after support bounce

Crypto News: Cardano focus after support bounce

8 eightcap 8 eightcap 14.06.2022 08:44
Well, traders, what an insane few days we have seen on the crypto markets. Some of the falls have just about been doomsday stuff. ETH, for instance, broke below 1100 today, and Bitcoin briefly moved below 21K. Solana’s low retraced the entire 2020/21 run before buyers jumped back in today. So let’s move to today’s focus Cardano. The late May and early June price looked good, moving back above .66 before the latest bear raids kicked off. Five straight sessions saw 24% taken off the price and today looked no different as prices raced a further 9% lower. Buyers emerged into today’s Asian session and, at this stage, have pulled 17% back since today’s low. This caught our attention from where the turnaround occurred, and it lined up very nicely with .4450 support. This could be a good sign as price continues to sit in its range and is not in a solid downtrend like many other top 10 coins. If buyers can hold out today and maintain a close above support, this could be good signs that buyers are trying to regain control. A close below support, and we will be back on the bear front. If buyers can hold support and a decent push higher, we will look for broader buying to show overall demand, and we will then look to see if buyers can break the top of the range to start suggesting that a new move higher could be developing. Cardano D1 Chart The post Crypto News: Cardano focus after support bounce appeared first on Eightcap.
Trading Week Ahead Live with Stuart McPhee

Trading Week Ahead Live with Stuart McPhee

8 eightcap 8 eightcap 12.06.2022 00:30
Join Stuart McPhee, trader, property investor, and bestselling author, as he gives you his Trading Week Ahead Live for the week. Watch him as he starts off the week by summarising the state of the markets in Forex, Indices, and Commodities. Then prepare yourself as he shares potential trade ideas and opportunities in play for the coming week.  JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 15th June 2022! Are you tired of analysing the market alone? Would you like to know how the market is taking shape this week? Register for Stuart’s mid-week Live Market Update. Join him on Wednesday 15th June, at 7PM AEST (10AM BST) as he looks back at the earlier market activity and opportunities since his Trading week Ahead. Stuart will then break down the developments and moves made and provide further insight on what may happen as the weekend approaches. Register Now At the end of the session, you will have the opportunity to direct all your market, strategy, and trade-related questions to the expert in a live Q&A. Learn what you need to trade CFDs safely. The Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So come join Eightcap and Stuart McPhee this week on the Trade Zone as we explore the markets together – Please remember to trade safely! The post Trading Week Ahead Live with Stuart McPhee appeared first on Eightcap.
Crypto Focus: Many of the Top 10 Coins Remaining Heavily Range-Bound for Another Week

Crypto Focus: Many of the Top 10 Coins Remaining Heavily Range-Bound for Another Week

8 eightcap 8 eightcap 10.06.2022 12:15
Well, it was another week of ranges traders, as we saw a few moves by both sides, but the picture remains relatively the same, with many of the top 10 coins remaining heavily range-bound for another week. BTC, ETH, SOL, XRP, BNB, and Doge are looking quite similar as traders continue to look for that reason to break the deadlock. Solana looked like it was trying to get a move higher going yesterday, but that was cut down into Thursday’s NY session. For now, it looks like the smart move will be to continue to sit if you’re long-term and stay on the lines if you’re a short-term trader. Until we see a shift in momentum, it could continue to be death by one thousand cuts if you continue to try and play the mini breakouts. It’s not to say we didn’t see some movement this week. ADA, a member on the top 10, did trade up to 20% higher before the fade set in yesterday. For now, ADA is in a minor uptrend, but we want to see 67 beaten to resume thinking that buyers are flat out in control. Other movers in the top 60 have been Helium +36% and THETA +12.2%. In the Top 25, ChainLink has seen a solid seven days up 23.4%. In other news, the SEC has stated that BTC and ETH are commodities. It’s going to be hard to get delivery of those. The SEC is also set to investigate the recent TerraUSD crash. Once again, we are going to end with an index to gauge the overall mood we see on the boards at present. It’s a very clear picture at the moment with the CRYPTO25 index as the price remains hemmed in its range between 11,250 and 9860. Recent price action has started to form a squeeze but that might just produce another mini-break that remains held between the range high and low. We are now at a point where we are looking for a high momentum break, either higher or lower, to set some direction. The post Crypto Focus: Many of the Top 10 Coins Remaining Heavily Range-Bound for Another Week appeared first on Eightcap.
Trade Zone Week Ahead: Morning Market Insight, with Stuart McPhee - 09.06.2022

Trade Zone Week Ahead: Morning Market Insight, with Stuart McPhee - 09.06.2022

8 eightcap 8 eightcap 09.06.2022 01:30
Join Stuart McPhee, trader, property investor, and bestselling author, as he gives you his Trading Week Ahead Live for the week. Watch him as he starts off the week by summarising the state of the markets in Forex, Indices, and Commodities. Then prepare yourself as he shares potential trade ideas and opportunities in play for the coming week.  JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 15th June 2022! Are you tired of analysing the market alone? Would you like to know how the market is taking shape this week? Register for Stuart’s mid-week Live Market Update. Join him on Wednesday 15th June, at 7PM AEST (10AM BST) as he looks back at the earlier market activity and opportunities since his Trading week Ahead. Stuart will then break down the developments and moves made and provide further insight on what may happen as the weekend approaches. Register Now At the end of the session, you will have the opportunity to direct all your market, strategy, and trade-related questions to the expert in a live Q&A. Learn what you need to trade CFDs safely. The Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So come join Eightcap and Stuart McPhee this week on the Trade Zone as we explore the markets together – Please remember to trade safely! The post Trade Zone Week Ahead: Morning Market Insight, with Stuart McPhee appeared first on Eightcap.
Trade Zone Week Ahead: Morning Market Insight, with Stuart McPhee - 06.06.2022

Trade Zone Week Ahead: Morning Market Insight, with Stuart McPhee - 06.06.2022

8 eightcap 8 eightcap 05.06.2022 20:00
Join trader, property investor, and bestselling author Stuart McPhee as he delivers his first Trading Week Ahead Live of June. Watch him as he starts off the week by summarising the state of the markets in Forex, Indices, and Commodities. Then prepare yourself as he shares potential trade ideas and opportunities in play for the coming week. JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 8th June 2022! Would you like help to understand the reasons behind the moves made in this week’s markets? Join Stuart and the rest of the Trade Zone community on Wednesday 8th June, at 7PM AEST (10AM BST). Watch as he gives you his first mid-week Live Market Update of the Month. Revisiting the week’s earlier trade ideas from Monday’s Trading week Ahead, Stuart updates his insight, breaking down the developments and moves made, and predicts what may happen as the weekend approaches. Register Now At the end of the session, there will be an opportunity to direct all your market, strategy, and trade-related questions to the expert in a live Q&A. Get the answers needed to trade CFDs. The Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So come join Eightcap and Stuart McPhee this week on the Trade Zone as we explore the markets together – Please remember to trade safely! The post Trade Zone Week Ahead: Morning Market Insight, with Stuart McPhee appeared first on Eightcap.
Crypto Focus: А Stable Week of the Crypto Market

Crypto Focus: А Stable Week of the Crypto Market

8 eightcap 8 eightcap 03.06.2022 10:37
So far, it’s been another week of what could have been. We saw solid gains on most of the top 10 turn into heavy selling that retraced most of the move. ETH, for instance, lost 11% of gains by Friday’s session. BTC 6.66% while coins like AVAX dipped into the red. BNB and SOL also struggled to find buyer demand tracking lower most of the week. XRP, like Bitcoin, saw plenty of buyer demand throughout the week but failed to hold gains late in the week, trimming gains into Friday. ADA bounced back this week, and it was nice to see the coin trading up to 25% higher before the fade set in. Bitcoin started the week below 30K. This set off a few alarm bells, but those worries subsided after the market leader moved back above 30k. Late week news hit that BTC mining has been banned in New York, and miners are reported to have been offloading their holdings. Ore worry hit the stable coin markets as DEI lost its peg, falling below 0.4. The stable coin issues could continue to undercut confidence in the crypto market. It was only a few weeks ago we saw the utter carnage that UST and Luna caused. Quite a few of the top ten look to be threatening at new pushes lower late into the week, but sellers have tried before to beat levels before being rejected. This week will look at the top 10 index. We can see that price overall remains in a range. The levels we want to see hold are 13,034 and 12,670. Any breaks below 12,670 signals the downtrend is back on. If we can see a close above 13,660, this could suggest buyers are back in control of short term momentum. The post Crypto Focus: А Stable Week of the Crypto Market appeared first on Eightcap.
CFD News: Eyes on the GER30 as buyers look to be forming a continuation.

CFD News: Eyes on the GER30 as buyers look to be forming a continuation.

8 eightcap 8 eightcap 02.06.2022 10:18
Today we’re watching the GER30 as price looks to be setting a new continuation idea. We need to see a strong close today, but for now, in the European session, signs are looking ok. This idea and pattern is a very close copy of what we discussed ed in the US30 article but just from a different take. The GER30 has set a fast trend of the new primary trend. This trend has also broken the downtrend, and today has started to form new support from an old area of resistance which could confirm as a new demand area. Last week we saw the first break of that resistance area, and today we could be seeing it become support. If we see a higher close today and a follow-up rally tomorrow, that could set us up with a date at last week’s high that also lines up with resistance. A break above that area, and yes, we could have a new up leg on our hands. A failure to beat that resistance level or a fade on today’s rally with further selling tomorrow that takes us back below the demand area is a worry and could suggest buyer strength might not be as strong as we are thinking now. Another possible curve ball could be from tomorrow’s NFP data. Payrolls are expected to come in lower and average earnings higher. A miss could send stocks lower, and a beat should have a positive impact. The NFP will be released at 8:30 EST tomorrow. GER30 D1 Chart The post CFD News: Eyes on the GER30 as buyers look to be forming a continuation. appeared first on Eightcap.
Trade Zone Week Ahead: Morning Market Insight, with Stuart McPhee - 02.06.2022

Trade Zone Week Ahead: Morning Market Insight, with Stuart McPhee - 02.06.2022

8 eightcap 8 eightcap 02.06.2022 01:00
Join trader, property investor, and bestselling author Stuart McPhee as he delivers his first Trading Week Ahead Live of June. Watch him as he starts off the week by summarising the state of the markets in Forex, Indices, and Commodities. Then prepare yourself as he shares potential trade ideas and opportunities in play for the coming week.  JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 8th June 2022! Would you like help to understand the reasons behind the moves made in this week’s markets? Join Stuart and the rest of the Trade Zone community on Wednesday 8th June, at 7PM AEST (10AM BST). Watch as he gives you his first mid-week Live Market Update of the Month. Revisiting the week’s earlier trade ideas from Monday’s Trading week Ahead, Stuart updates his insight, breaking down the developments and moves made, and predicts what may happen as the weekend approaches. Register Now At the end of the session, there will be an opportunity to direct all your market, strategy, and trade-related questions to the expert in a live Q&A. Get the answers needed to trade CFDs. The Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So come join Eightcap and Stuart McPhee this week on the Trade Zone as we explore the markets together – Please remember to trade safely! The post Trade Zone Week Ahead: Morning Market Insight, with Stuart McPhee appeared first on Eightcap.
Crypto Focus: Markets Continue to Ride the Downtrend

Crypto Focus: Markets Continue to Ride the Downtrend

8 eightcap 8 eightcap 27.05.2022 12:26
Another lower week traders as the top 10 and top 25 lost further gains continuing the current downtrend. If this week closes lower, that will set 8 weekly lower bars in a row. We discussed a few coins this week, emphasising continuation patterns that formed during the week. We did see some confirmations yesterday as sellers got things back on their terms in the European session. BTC fought back from lows abut sellers regained control on Friday’s session. AVAX was one of the significant coins hardest hit as it set new monthly lows. One positive is that the top 10 didn’t retest their May lows despite most hitting new weekly lows. As noted, buyers resisted the pressure with ranges and consolidations ruling before Thursday’s push lower. ETH seen to be dropping over merger frustration. Confidence drop? Guggenheim’s Scott Minerd once saw Bitcoin hitting $400,000. Now he says it’s more like $8,000. LUNA 2.0 blockchain was approved this week. After the fundamental weakness that we all saw with our own two eyes, we wish that any readers thinking about this should approach with caution and use strict risk management if they choose to go ahead. Ripple, on the other hand, has seen solid buying as price has declined. Reports say whales have been quietly accumulating the coin during this week’s declines and we can see this on the charts today. XRP is this week’s focus due to this buying. XRP caught our attention as it started edging into the positive while other coins continued to see red. Let’s take a look at the daily chart. Price continues to see support and demand from 0.38. We see two failed lows this month, and while price remains above the latter one, we will continue to look at it as a new HL. Price sits in a descending triangle pattern. A break higher, and this could be a new leg higher in the making. A break lower and we will look for the current downtrend to continue. The post Crypto Focus: Markets Continue to Ride the Downtrend appeared first on Eightcap.
Trade Zone Week Ahead: Morning Market Insight, with Stuart McPhee

Trade Zone Week Ahead: Morning Market Insight, with Stuart McPhee

8 eightcap 8 eightcap 24.05.2022 22:00
Welcome trader, property investor, and bestselling author Stuart McPhee as he delivers his first Trading Week Ahead Live of June. Join him this coming Monday, as he starts the week by summarising the state of the markets in Forex, Indices, and Commodities. Then shares his perspective on potential trade ideas and opportunities in play for the coming week.  JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 1st June 2022! Would like you to receive more support and guidance around your trading activity? Then Join Stuart and the rest of the Trade Zone community this coming Wednesday at 7PM AEST (10AM BST). Watch as he gives you his first mid-week Live Market Update of the Month. Revisiting the weeks earlier trade ideas from Monday’s Trading week Ahead, Stuart updates his insight about the moves and progression that have been made and shares his beliefs in the market as we approach the weekend. Register Now At the end of the session, there will be a live Q&A for you to ask all your market, strategy, and trade-related questions and get the answers needed to unlock the secrets to trading CFDs. The Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So join the Eightcap Trade Zone this week as we explore the markets together, and please remember to trade safely! The post Trade Zone Week Ahead: Morning Market Insight, with Stuart McPhee appeared first on Eightcap.
Crypto Focus: Market Steadies but No Sign of Recovery

Crypto Focus: Market Steadies but No Sign of Recovery

8 eightcap 8 eightcap 20.05.2022 15:34
Let’s just say things have been a lot more settled this week than last week’s bloodbath. The top 10 and 25 indexes remain positive on Friday. But it’s very little pulled back compared to the damage done over the last 6-weeks. A few headlines that caught our attention this week, Ripple partnered with a Lithuanian firm for cross-border payments. Attention remains on Ethereum as it prepares to merge and just hangs on to the 2000 USD level. Tether is said to be partially backed by non-US government bonds. Is this meant to give us confidence after the stable coins fiasco last week? Talk emerging around debt defaults by El Salvador. The country famously made Bitcoin legal tender and was reported to have bought large parcels on the coin. The pressure continued this week as BTC fell below 29K. Price has moved back above 30K, but pressure remains on the country after this move. Ranges are the topic of a lot of the top ten at this point in the week. We discussed this in detail in our Bitcoin report earlier today, and it’s not really a surprise based on last week’s trade. We want to point out the weekly demand areas and support areas we are seeing holding on several coins. Definitely take a look at some of the top 10 on their weekly charts to see the areas and levels we have brought up. Continuing on from this, we want to show an example of this. As you can see below, Bitcoin weekly has held for now from the 28,600 – 30,000 area. Last week’s plunge failed to break this level, and it remains key weekly support for now. While this level remains in play, we will look for buyers to continue to consolidate.   The post Crypto Focus: Market Steadies but No Sign of Recovery appeared first on Eightcap.
Crypto News: Bitcoin Price (BTC/USD) is range-bound. Will we see a break today? | 8cap

Crypto News: Bitcoin Price (BTC/USD) is range-bound. Will we see a break today? | 8cap

8 eightcap 8 eightcap 20.05.2022 04:05
Hi traders, today we’re seeing a similar pattern across several coins. After yesterday’s failed lower break attempt, ranges have developed. We’re seeing this pattern on a few, BTC, BNB, ETH, SOL, ADA, and XRP. We’ve zeroed in on Bitcoin as on the 4-hour chart. The range is quite symmetrical. We saw 29K come in yesterday as a demand point, and for now, price continues to hold above. The range can be broken down into inside action and overall action. On the side, we are looking at two possible directions. One, we see price maintain the pattern and move back to the bottom of the range. Two buyers regain momentum as we see a test or break of the range roof. If number two occurs, that will line up with the overall action idea of a new breakout due to steady demand seen yesterday rejecting seller attempts to break lower. We can also see a trend break on the four-hour chart and a fast trend break on the daily. If sellers can not only move back to the range base but break through it, we would look at the 27,600 area to possible offer buyer resistance If buyers clear the range, we could see resistance develop from 32,200. On the other side, if sellers can not only move back to the range base but break through it, we would look at the 27,600 area to possible offer buyer resistance. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM It will be interesting to see which side wins this battle. Hoping all of our readers have a wonderful weekend. Bitcoin 4H Chart The post Crypto News: Bitcoin is range-bound. Will we see a break today? appeared first on Eightcap.
Trade Zone Week Ahead: Begin Your Week with Real-time Insight from Andrew Lockwood

Trade Zone Week Ahead: Begin Your Week with Real-time Insight from Andrew Lockwood

8 eightcap 8 eightcap 15.05.2022 14:43
Join Andrew Lockwood from ForexSignals.com, for his penultimate week on the Eightcap Trade Zone. Start the week with another live Monday morning Trading Week Ahead, as he outlines the markets to monitor from, Indices, Forex, and Commodities, and shares his potential trade ideas for the week for the coming week. JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 18th May 2022! Would you like an update on how the markets have been performing this week? Then Join us this coming Wednesday, at 7PM AEST (10AM BST), as Andrew provides his mid-week Live Market Update. Watch him, as he looks back at his analysis from Monday, and updates you with the moves and developments that have been made. Then shares where he foresees the market heading as we approach the weekend. Register Now Do you need some help summarising the market, or want to trade along side a seasoned trader? If so, this is the perfect opportunity to get the help and support you need. As usual there will be a live Q&A at the end of the session, for you and the rest of the Trade Zone community to ask Andrew Lockwood any trade-related questions you may have. So if you are not sure about the reasons behind any of the movements in the market, or you would like to know more about a particular asset or pair? Then this is the place to come to get the answers you need. So join us on the Trade Zone this week, and as always, please remember to trade safely! The post Trade Zone Week Ahead: Begin Your Week with Real-time Insight from Andrew Lockwood appeared first on Eightcap.
Crypto Focus: Market meltdown continues as Terra (Luna) collapses

Crypto Focus: Market meltdown continues as Terra (Luna) collapses

8 eightcap 8 eightcap 13.05.2022 07:19
Well, what can we say about this last week? It was a horrific week on the crypto boards, with most coins plunging. The selling got going last weekend and peaked with a real market crash on Thursday. 200 billion of value was wiped off just on Thursday’s session alone. Bitcoin hit 25,338 USD at its lowest point on Thursday, and Ethereum touched $1702, setting new year lows. The rout wasn’t just about those two. The top 25 index coin index we quote cashed by 45.18% to its low on Thursday. Why did this happen? As the week went on, a few stories started to emerge. UST was the main influence, and it had a catastrophic effect on Terra Luna, which we will get to later. UST is a stable coin; these coins are meant to be pegged in value to the USD and, in theory, should be at the 1:1 value. UST is a little different as it’s an algorithmic stable coin under-pinned by code rather than cash held in reserve. This is where the trouble began. As UST fell under $1 the cracks opened and fear set in. Selling accelerated, and its value slipped down to .41 cents. This had disastrous consequences for its sister currency Terra Luna which has a floating price and was designed to absorb UST price shocks. Terra crashed on UST failure to hold value and ended Thursday’s session under 1 US cent. We’re talking at 99% plunge! This was catastrophic for traders and investors that owned LUNA as many exchanges slowed to craw trying to deal with the mass of sell orders hitting the exchanges. Pressure on bitcoin, the Luna Foundation owned a mass of bitcoin used to shore up terra in times of crisis. Talk suggested large amounts had been sold to deal with the terra issue and this compounded/added to the panic selling that session. The story continues, tether the world’s largest stable coin, also dipped below $1 US, sending a shock through the markets of a contagion. This added to the panic. It’s difficult to tell what may happen next, but from watching the events this week, it’s important you remain vigilant as this volatility continues. I’m not an industry expert, but from watching the events this week, it’s something that came to my mind.This week’s focus is a sad one, but we can’t skip over Terra Luna. I’m not going to say much more on it as the meat is above. It’s a terrible event as, yes, some might think it’s cool to see markets destroyed, but there’s a personal loss in there as many investors believed in terra and now may face very unfortunate situations. The post Crypto Focus: Market meltdown continues as Terra (Luna) collapses appeared first on Eightcap.
Trade Zone Week Ahead: Begin Your Week, with Real-time Insight from Andrew Lockwood

Trade Zone Week Ahead: Begin Your Week, with Real-time Insight from Andrew Lockwood

8 eightcap 8 eightcap 12.05.2022 14:43
Join Andrew Lockwood from ForexSignals.com, for his penultimate week on the Eightcap Trade Zone. Start the week with another live Monday morning Trading Week Ahead, as he outlines the markets to monitor from, Indices, Forex, and Commodities, and shares his potential trade ideas for the week for the coming week. JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 18th May 2022! Would you like an update on how the markets have been performing this week? Then Join us this coming Wednesday, at 7PM AEST (10AM BST), as Andrew provides his mid-week Live Market Update. Watch him, as he looks back at his analysis from Monday, and updates you with the moves and developments that have been made. Then shares where he foresees the market heading as we approach the weekend. Register Now Do you need some help summarising the market, or want to trade along side a seasoned trader? If so, this is the perfect opportunity to get the help and support you need. As usual there will be a live Q&A at the end of the session, for you and the rest of the Trade Zone community to ask Andrew Lockwood any trade-related questions you may have. So if you are not sure about the reasons behind any of the movements in the market, or you would like to know more about a particular asset or pair? Then this is the place to come to get the answers you need. So join us on the Trade Zone this week, and as always, please remember to trade safely! The post Trade Zone Week Ahead: Begin Your Week, with Real-time Insight from Andrew Lockwood appeared first on Eightcap.
Forex News: EURUSD, are we seeing a new breakout?

Forex News: EURUSD, are we seeing a new breakout?

8 eightcap 8 eightcap 12.05.2022 09:48
Risk markets are seeing another session of aggressive selling. The selling so far is across multiple asset classes. It’s a real good old fashioned risk-off day so far. Until today the EURUSD looked to be holding up the best out of the three main risk currencies, but that’s all changed in today’s European session after sellers finally broke through support. Until today the EURUSD continued to hold its line ignoring the AUD and GBP making lower moves to the USD. 1.0490 continued to hold for buyers and even in today’s Asian session, this level remained in play. The AUD and GBP continued to hit new lower lows while the EUR held on. We started to think, is it EU rate raise expectations holding it up? That didn’t make real sense as both currencies saw rate raises recently but continued to move lower. This all changed today after sellers broke support and confirmed a breakout of the descending triangle pattern. These patterns in downtrends are normally seen as trend continuation patterns and this case is no different. While price remains below support we will continue to look for further lower prices and with the ongoing inflation worries and global recession fears, this could be a factor that maintains selling. There is talk of parity with the USD, could this be the start of the move that realise these calls? EURUSD D1 Chart The post Forex News: EURUSD, are we seeing a new breakout? appeared first on Eightcap.
Trade Zone Week Ahead: Indices, Forex, and Commodities Real-Time Insight, with Andrew Lockwood

Trade Zone Week Ahead: Indices, Forex, and Commodities Real-Time Insight, with Andrew Lockwood

8 eightcap 8 eightcap 06.05.2022 12:43
Join Andrew Lockwood from ForexSignals.com, for Monday’s Trading Week Ahead Live, as he takes you through his markets to monitor for the upcoming week. Watch as he analyses the Indices, Forex, and Commodities markets, and shares his potential trade opportunities for the week. JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE! Do you want to continue monitoring the markets reviewed in Monday’s Trading Week Ahead Live? Then Join us this coming Wednesday, at 7 PM AEST (10 AM BST), as Andrew continues his analysis from Monday. Watch him as he looks back at moves and developments made since Monday, and shares where he foresees the market heading as we approach the weekend. Register Now This is the perfect opportunity to help you summaries the levels you’re watching and understand the movements being made. As usual, at the end of the session, there will be a live Q&A, for you and the rest of the Trade Zone community to ask Andrew Lockwood all your market and trade-related questions. So if you are not sure about the reasons behind a market movement, or you would like to know more about any of the pairs or commodities covered this week? This is the place to come to get the answers you need. So join us and enjoy… And as always remember to trade safely! The post Trade Zone Week Ahead: Indices, Forex, and Commodities Real-Time Insight, with Andrew Lockwood appeared first on Eightcap.
Forex News: GBPUSD beats its range. Can buyers start a new leg higher?

Forex News: GBPUSD beats its range. Can buyers start a new leg higher?

8 eightcap 8 eightcap 05.05.2022 10:01
Today’s focus is on GBPUSD after its solid rally yesterday after markets surged to the USD after the FOMC statement suggested the Fed might not be as aggressive in its policy to combat inflation. The message also confirmed that the policy would do its best to help the US economy achieve a softish landing, and Powell did comment that inflation remains much too high. Let’s look at the GBPUSD. Price remains in a long-term downtrend. The last key leg we saw was a sharp down leg as the USD continued to fly higher over the previous week. Since the last low was put in on the 28th of April, we have seen a range develop, and that pattern was in place until yesterday, before buyers broke through it to the upside after the FMOC. This break has us thinking, can we see a new leg higher set up after this break? Price so far has been weaker today will sellers retracing over 50% of yesterday’s move. Buyers have been fighting back into today’s European session, and expectations are that the BOE may raise rates again today. Could this continue to give the Cable a boost and send price back up to yesterday’s high? A break and close above yesterday’s high could confirm a new up leg. A close back below the HL is a worry and could suggest that buyer momentum might now be that firm. If we do see a new close above yesterday’s highs and buyers can continue to hold momentum, we would be looking at the closest trend line as a possible higher target. Today’s BOE rates decision is at 9:00 pm AEST. Rates are expected to increase to 1%. GBPUSD D1 Chart The post Forex News: GBPUSD beats its range. Can buyers start a new leg higher? appeared first on Eightcap.
Crypto News: Is LiteCoin starting new bounce off key support?

Crypto News: Is LiteCoin starting new bounce off key support?

8 eightcap 8 eightcap 04.05.2022 06:55
Today’s focus is on Litecoin as price has started a new push higher after holding once again at 97.15 key support. Most coins are firm at this point in the day as buyer interest continues to pick up. We saw this yesterday, but things changed in the US session, and gains turned to losses. Could today be different? It’s a hard call as the FOMC is due in today’s US session, and a lot may come down to the FOMC statement and what it spells for rates moving forward. Recently crypto hasn’t reacted well to Fed policy adjustment news to help rein in inflation. Rates are expected to rise today, but could that be factored in? The real worry could be if the Fed commits to a very aggressive stance that exceeds market expectations. That could put pressure on risk markets to the USD and give the USD a boost. As noted, crypto has not reacted well in these situations, so it could be an interesting FOMC today. Back onto today’s focus, Litecoin looks to be setting up from a solid base with 97.15 key support holding for buyers since January this year. Since that point, we are yet to see a close below that support level. We have seen a few false starts off it, but while it continues to hold, there continues to be a floor for buyers. If things support crypto markets today after the FOMC, could we see today’s rally extend and break the current fast downtrend? Buyers do face some resistance at 100.35 and 103.90. If we see these levels cleared, that could be a good sign that buyers are trying to get a new up leg going. If we see a rally follow on, the next test will be the downtrend that caps the current descending triangle pattern. The CCI has also moved above the 0 point showing bullish conditions. We stress again today’s FOMC could have an impact on the current picture. The FOMC statement and federal funds rate is due at 4:00 am AEST, and the press conference follows at 4:30 am AEST. LiteCoin D1 Chart The post Crypto News: Is LiteCoin starting new bounce off key support? appeared first on Eightcap.
Forex News: EURJPY, LH setting up sellers stacking candles?

Forex News: EURJPY, LH setting up sellers stacking candles?

8 eightcap 8 eightcap 03.05.2022 10:52
Today’s focus is on the EURJPY, and for now, it’s from the sell-side. That might sound a bit strange based on the amazing buying we have been seeing in recent weeks but like everything, nothing lasts forever. Please note that we’re not calling it a trend change, but in the short term, some signs have started to stack up on the seller side. The first sign we can see is the break of the medium-term to the long-term trend. After that break, we saw a short steep counter that is typical of counter-rallies after a break lower. Currently, we can see a build-up of indecision that has formed an LH after the trend break. From 137.50 we can see plenty of supply from sellers halting any new attempt by buyers. These are, for now, all pointing to a possible push lower by sellers, but they have a few things to do before we can start thinking confirmed. First, we need to see minor support beaten to see a resumption of seller control. We would then look lower at 135.28 support and 134.60 support if that happens. If sellers can move below both of those levels, we could have a new downtrend on our hands. We have put in the forming downtrend abut we would like to see price remain inside that trend if it moved back to the support areas. If we see buyers maintain minor support and push to or through the new downtrend line, we would start thinking possible fail, and we would then move back to the drawing board with new focus on a possible retest of the April high if new HLs and HHs are formed. The BOJ and the Jen will also be a focus as they drove the recent rally, and it was primarily policy-driven. Any updates from the BOJ that resume JPY weakness could also be a factor in candling out the current seller price action. EURJPY D1 Chart The post Forex News: EURJPY, LH setting up sellers stacking candles? appeared first on Eightcap.
Crypto News: (BTC/USD) Bitcoin breaking out of an ending diagonal?

Crypto News: (BTC/USD) Bitcoin breaking out of an ending diagonal?

8 eightcap 8 eightcap 02.05.2022 09:39
Looking at Bitcoin on the 6H chart price pattern could suggest that a new move higher could be starting to develop. Additional time and a little more confirmation is required, but the initial breakout looks to have started for now. The pattern we are watching looks like an ending diagonal wedge. These patterns are traditionally Elliot Wave based but can be used in normal charting. They show a pattern of consolidation after a trend. A break of the pattern can set off a new trend. We can see the breakout occurring today, and the move started after reconfirming support at 37,800. From here, we want to see the new move continue to push higher. We would like to see a bit more buyer momentum to really confirm the break, and if and when we see a pullback, we would like to see a new higher low formed and the next rally to break to the previous high, signalling that a new trend could be underway. If we see a new pullback to support, that could be seen as a small worry as short term momentum may not be as strong as first thought. A break below support cancels out the idea. Keep in mind bitcoin has been sensitive to FED updates around inflation and policy. This week we have the FOMC on Thursday morning AEST. Rates are set to go higher, but the market will be looking at the statement to gauge just how much further they could increase due to the ongoing inflationary worries in the USA. Recent history has seen Bitcoin pr=erform poorly off the back of FED updates around policy adjustments to rein in inflation. This week’s FOMC meeting could have an impact on the current Bitcoin pattern. Bitcoin 6H Chart The post Crypto News: Bitcoin breaking out of an ending diagonal? appeared first on Eightcap.
Crypto Focus: A Week of Indecision and Dogecoin on the Up?

Crypto Focus: A Week of Indecision and Dogecoin on the Up?

8 eightcap 8 eightcap 29.04.2022 13:27
It’s been another week of wide ranges with little direction. That’s not to say we didn’t see both sides try. A few of the top 25 saw solid selling, both AVAX and XRP were hit with sell-offs, while the more significant coins like BTH and ETH fought back off lows forming spinner type candles. Bitcoin traded above 40K during the week but couldn’t hold the level. On the positive, 38,900 continues to hold firm for buyers. APE coin had a massive week adding 57% ahead of its metaverse launch. Doge had a massive week, and we will touch on that further below. Aside from its massive jump, the coin can also now be used for rent payments. On the topic of payments, a Dubi real-estate developer will accept BTC and ETH for purchases of luxury homes. During the week, we did see a few small signs that buyers were trying to get a move going, but a lot like last week, we saw those signals fade as selling resumed. A fair few of the top 25 took heavy selling on Friday’s session, and that was refected as the CRYPTO25 indexes were leading the CRYPTO10 index lower. DogeCoin was the talking point last week. The coin is linked to Elon Musk regularly, and once news of his offer to buy Twitter was accepted, we saw a dramatic rally on the coin. Price jumped as much as 30% higher on the news, but the move was short-lived as a touch over 10% was taken off the following session. Since Tuesday, we have seen every direction on Doge as it looks like traders are trying to work out what Monday’s spike meant. Looking at the daily we have a solid looking range in play, and this could set up a straddle play. A straddle is where a trader places buys above the range and sells below the range. (one cancels over an option to avoid being double filled). If that spike is valid, the question that may need to be answered by traders is if we did see a breakout lower, could it retrace Monday’s spike retesting lows set on the 25th or if we break higher could we see a new test of 0.17? Until we see some direction, the market may remain rangebound. Be wary of tests out of the range, as false breaks can be very painful for breakout traders. In all trading, risk management is an essential part of the trader’s strategy. (The straddle example is an example based on Friday’s chart. The daily chart will have changed, and the range may not be in place by the time of posting) DOGE Chart Here’s 4-hour chart as well just in case you prefer it The post Crypto Focus: A Week of Indecision and Dogecoin on the Up? appeared first on Eightcap.
CFD News: US30 continues to stall after fightback

CFD News: US30 continues to stall after fightback

8 eightcap 8 eightcap 28.04.2022 04:55
Looking at the US30 on the 8H we can see some signs that counter-rally is stalling. Price remains range-bound between 33,485 and 33,170. With inflation white-hot and the talk of recession and possible heavy rate hikes, could this be a pause before we see a new push lower by sellers? All three major US indices are showing similar patterns, but the US30 definitely looks the weaker of the three for now. After yesterday’s choppy end to the session that saw an 8H range of 602 points, price continues to sit midway at the moment with little direction. Price sits in a fast downtrend with one lower high, but this week buyers have started to put up some defence with the start of a consolidation starting to form between support and res 1. This may also be a pause before sellers try to get going again. Res 2 is another point of resistance holding for sellers currently and if we are to start thinking buyer recovery we would like to see both points beaten with a new higher low to show demand. If sellers are able to get the show back on track we would be looking for a break of support to show that they have beaten buyers for now. The market looks to be waiting on something to give it direction and that might just come later this week with US advanced GDP due at 8:30 EST today and US core PCE price index which is a primary inflation measure for the FED. With the current climate around inflation, this could be key data. It’s due out Friday at 8:30 EST. US30 8H Chart The post CFD News: US30 continues to stall after fightback appeared first on Eightcap.
Stocks turn negative on Wall Street

Crypto News: (ARUSD) Arweave, rally watch as buyers clear $27

8 eightcap 8 eightcap 27.04.2022 03:53
Today our focus is on Arweave (ARUSD). Buyers, for now, have pulled back most of yesterday’s losses and continue to push at a possible engulfing bar pattern. Last month, price was supported by news 17M was raised to help make Arweaves data storage blockchain more usable. Up until today, thing’s haven’t been the best for Arweave, with the last four weeks of trade being lower. A shift has started this week, and we can see buyers trying to pull back from losses. Pattern focus, for now, remains on the daily. Today’s candle is close to forming an engulfing bar which sits just above a level of demand. A fair bit of pressure remains on today’s bar. We really want to see a firm close that really needs to beat yesterday’s open or high, and we would prefer to see a close above yesterday’s high, confirming the bar pattern. A close at that point should also lift the CCI above the 0, moving back into a bullish area and set up a break of the current downtrend. If those are achieved by the end of today’s NY session, we could be seeing a new up-leg developing. If price retraces today and closes below $27, that would cancel out the engulfing idea. If heavy selling resumes, a break of the demand area would suggest that the current downtrend has further to run. If we do see a new move higher get going, we have marked two levels of potential resistance, but we would think that key resistance could be the first real test if reached. Arweave D1 Chart The post Crypto News: Arweave, rally watch as buyers clear $27 appeared first on Eightcap.
Crypto Focus: Another Choppy Week on the Markets

Crypto Focus: Another Choppy Week on the Markets

8 eightcap 8 eightcap 22.04.2022 14:44
It’s been a choppy week, with little direction at the end of it all on the top 10 and top 25. Both markets have seen plenty of action with decent ranges above and below the week’s open. As I write this early into Friday’s London session, sellers are now trying to get the upper hand. For now, the losses remain minor. Looking at the top 25, we saw 5.28% added to the upside and 5.77% to the downside (measuring the weekly bars high and low). Bitcoin and Ethereum both tracked closely to the top 10 and 25 indexes and were the two most significant coins edging lower after setting wide highs and lows. ETH is seeing plenty of support from 2980, and that level, for now, remains a key support point. Bitcoin continues to falter at 41,500. We are noting this level as strong resistance at this point. Fed policy remains a sensitive point for crypto traders as Friday morning’s news of a potential 50 point rate rise in May sent shock waves through major coins. This announcement definitely looks to have derailed or added to buyer worries as the fightback we had been seeing through the week stopped. Other news stated that the Treasury Department added BitRiver and ten of its subsidiaries, based in Russia, to its sanctions list. This coming week we still feel that FED policy looks to be the more sensitive issue regarding demand. Now that the news is out and being digested, could this lead to traders moving on from the shock and becoming a little more confident in buying, or could it continue to drive funds out of the top 10 and 25 coins? Some of this week’s big movers; Monero had another great week climbing to 281. Price gained 19.39% as demand remained thick for this coin. RookUSD KeeperDao is this weeks focus. We noticed the strong buying earlier in the week, and nothing changed by Friday’s session. Buyers are flocking to the coin, taking it back above USD$153, adding 34.52%! Price hit new 3-month highs this week after posting a second straight month of gains (at this point). Price has started to confirm a new trend after buyers beat resistance. If the new move can continue, we are looking at 167.60 as potential resistance. As long as we see new higher lows on the new pull back, we will continue to look for new moves higher, confirming the new uptrend. One pullback at resistance is fine, but we will want to see buyers break that level to really show that momentum is on the buyer side. The post Crypto Focus: Another Choppy Week on the Markets appeared first on Eightcap.
CFD News: ASX200 returns to a key supply area

CFD News: ASX200 returns to a key supply area

8 eightcap 8 eightcap 21.04.2022 11:50
Today we are looking at the ASX200 on the daily timeframe. Price has once again returned to a key supply area. Will we see another rally stopped, or could this be a push into new records? The ASX200 has put together three solid months after a shocker to start 2022. Price 6.81% in January before buyers got back hold of things and put over 8% back on to the current point in April. So far this week, we have seen 1% added by buyers. This takes us back to a key area of supply. From roughly 7590 to 7640, we have seen two major trend reversals once price has moved into this area. 13th of August 2021 was the first rejection, and we saw the latest on the 4th of January, which led to a 9% pullback. Buyers once again have a robust medium-term uptrend in play that got going in March. Earlier this month, buyers broke out of consolidation setting up the new push back to the supply area. Will this run be different and finally break and close above 7640-7652, setting a new all-time high? The ASX has a lead on US indexes as it sits close to all-time records atm. US indexes are pushing higher despite inflation and treasury worries. Their continued momentum might be the lead that ASX buyers need to get to that next step. Australian inflation is rising as the RBA has already hinted at higher rates, but for now, that doesn’t look to be causing too much worry to the short term price. We will be watching with interest if buyers can continue to push higher or if we will see sellers flood back in once again, holding the supply area. ASX200 D1 Chart The post CFD News: ASX200 returns to a key supply area appeared first on Eightcap.
Trade Zone Easter Week Ahead

Trade Zone Easter Week Ahead

8 eightcap 8 eightcap 18.04.2022 08:50
Watch Simon Massey’s from Trade Room Plus analysis and his trade possibilities for the upcoming Easter week. Today, he look at the price action for German DAX index, Bitcoin, US NASDAQ, Gold and a 2 major forex pairs of note. Enjoy the video below to get all of Simon’s latest thoughts. Do trade safe! JOIN SIMON THIS WEDNESDAY FOR THIS WEEK’S LIVE MARKET UPDATE. REGISTER NOW. Join us at 7 PM AEST (10 AM BST) this coming Wednesday as Simon for another Trade Zone Live Market Update. Register now to secure your place on our next live market update of April, as Simon examines the key moves of the week so far, and looks ahead at the potential end of week action that you need to keep an eye on. It’s the perfect session to summarise the levels you need to be watching as the trading week draws to a close. Got a burning trading question you need to answer? Want to know about the fortunes of a specific pair or commodity, then let Simon give his view at the end of session Q&A. Registration is free. Click below to secure your seat. Simon Massey is the lead trader of Trade Room Plus, the UK’s premier Live Trade Room. He believes the best way to teach people to trade is to demonstrate live trades. His trading journey started with a small trading account. This led him to trade with ever-larger trading accounts until he was able to leave his previous job and become a full-time trader. Trade Room Plus was established in 2013 and provides educational services to help develop effective trading strategies. Beginners can watch the pros trade financial assets in real-time and learn first-hand from the experts. Important Data Releases & Events this Week Monday CNY Inflation Rate GBP GDP Tuesday AUD NAB Business Confidence GBP Claimant Count Change, Unemployment Rate EUR German Inflation Rate, ZEW Economic Sentiment Index USD Core Inflation Rate, Inflation Rate Wednesday AUD Westpac Consumer Confidence Index GBP Core Inflation Rate, Inflation Rate USD PPI Thursday CAD BoC Interest Rate Decision, Monetary Policy Report AUD Employment Change, Unemployment Rate EUR Interest Rate Decision, Press Conference USD Retail Sales Friday USD Michigan Consumer Sentiment Indes The post Trade Zone Easter Week Ahead appeared first on Eightcap.
Forex News: AUDUSD, are sellers setting up a new extension lower?

Forex News: AUDUSD, are sellers setting up a new extension lower?

8 eightcap 8 eightcap 13.04.2022 10:56
Today we are looking at the AUDUSD as sellers look to be pushing at a new extension lower. After yesterday’s rally stalled at resistance so far today, we have seen momentum squarely back with sellers. Overall price remains in a long term uptrend, but since the last April high was put in, buyers have struggled to get momentum going with a charging USD continuing to pressure the AUD. Despite Australian inflation pressure and talk of rates increasing in June, this is overshadowed by 40-year high inflation in the States and Fed members vowing to act. Since that high, we have watched a new downtrend develop with price making its first leg lower, returning to 0.74. Yesterday we did see a fightback, but that was stopped by resistance and supply that remains around the .7450-.7480 area. Today’s rally was also stopped by this supply level and has started to develop into a trigger bar. If sellers can break minor support, we will continue to look for a continuation lower, maintaining the current downtrend. The big test if price makes a new push lower is the long-term uptrend. Will it stop sellers and start a new continuation point for buyers? This could be a critical crossroads for the longer-term picture, and we feel a lot will come down to the current situation with US inflation, their rates policy and demand for commodities. Covid continues to run rife in China, and if the situation continues, this could also have a knock-on effect on demand. First things first, sellers need to beat minor support to get the continuation going. AUDUSD D1 Chart The post Forex News: AUDUSD, are sellers setting up a new extension lower? appeared first on Eightcap.
Crypto Update: Can ALGORAND bounce if buyers hold support?

Crypto Update: Can ALGORAND bounce if buyers hold support?

8 eightcap 8 eightcap 12.04.2022 11:24
Today we’re looking at Algorand (ALGOUSD) as price has started to re-hold at key support. Will we see buyers hold the move higher today and set up a new hold? Our focus remains on key support, but let’s look at the lead up to this level. First, we can see the ending diagonal that has been confirmed with the first leg higher. This also set up the first hold point of key support. It’s good to see a pattern backing up a new move higher. We saw resistance come in at 0.957. This led to the decline that brought us back to key support. Yesterday’s bar could be seen as exhaustion, but we will need to see if buts can hold the fightback through the NY session. We can also see a zig-zag forming. We have marked it in grey, and you can see the extension idea with the question mark. Our idea is if support holds and we see a new rally, we would look for the first test to come in at the last key level of resistance. We are also watching the grey line marked potential resistance as that area went from resistance to support and back to minor resistance. From here, we want to see a hold off support and a new rally carry forward. We would like to see a new leg higher, respect the zig-zag idea, and if we do see any new moves lower, we want to see new higher lows and higher highs after the red trendline break. Pressure on buyers into the NY session and into tomorrow to see if they can hold support and get a new move higher underway. Obviously, a break below support cancels out the above, and traders will be looking to see if a new downtrend is getting underway. Algorand D1 Chart The post Crypto Update: Can ALGORAND bounce if buyers hold support? appeared first on Eightcap.
CFD News: Oil, can buyers continue to hold from 95.50?

CFD News: Oil, can buyers continue to hold from 95.50?

8 eightcap 8 eightcap 11.04.2022 10:44
Today we’re looking at oil as price looks to have started to stall after a steady two-week decline. Key support continues to hold but seller signs remain. After the initial pullback buyers once again got price back into the 100 dollar area. This was short-lived after the US released emergency crude to overload supply and cut oil prices lower. The news had an immediate effect as oil prices fell back below the 100 dollar price level. At this stage, sellers look to be having a real issue at closing below $95.25. You can see below on the daily chart the strong level of support that has formed. This level runs back to February when it switched from minor support to the current key support. We are also noticing a new double bottom that has also started from around the support area. A new trend lower remains in play and we have seen two LHs set up during the decline. The CCI is also in bearish territory trading below the 0 line. So far sellers are missing a new LL to qualify the pattern of trend. This is where the demand/support level really comes into play. If buyers can maintain it we could see a new move higher develop. A new HL off the level backs up the level and growing buyer strength. A breakthrough with a close below support sets up the idea that the current move lower is not over and the 90 dollar area could be a lower target. The next several sessions should be interesting for oil and hopefully, give us an idea of the direction to come. We are wondering if we do see a new rally above 100, will the US release more oil to quash it? Oil D1 Chart The post CFD News: Oil, can buyers continue to hold from 95.50? appeared first on Eightcap.
How Will NEAR, BALANCER And RAMP Move In The Near Future?

How Will NEAR, BALANCER And RAMP Move In The Near Future?

8 eightcap 8 eightcap 08.04.2022 15:43
At this stage, it looks like we are set for a decline in the top 25 coins, snapping a three-week winning streak that has seen just over28% added in the last three weeks. So far, the top 25 index is down a touch over 6% late in the week. The major coins started the week with gains but found it hard to hold momentum. Selling really ramped up on Tuesday as risk markets reacted to further inflation worries. US inflation hit 40-year highs and set up a quick response from the Fed. Members said that policy adjustments would be made swiftly to try and rain in the worrying inflation. This set off the USD. The USD index quickly broke back above 99 and continued to push higher, trading up to 99.71. As traders moved quickly out of risk assets, this looks to have been a strong factor for sellers of crypto. Tuesday was the worst day so far in the week, with over 5% taken off the top 10 and 6.5% taken off the top 25. Sellers tried to get another move going on Thursday but were rejected by buyers. Friday’s trade saw a fightback, but many coins share a similar pattern of a counter-rally after a trend break. Friday’s session gave us a few surprises, with NEAR and BALANCER both trading over 15% higher during the session. RAMP was another strong mover, adding over 30% during Friday’s session. Looking to next week, attention will have to remain on the inflation and policy situation of the Fed as it looks to be having an influence. We are also keen on seeing if some of Friday’s counter-rallies can become something more. This week, due to some mixed-signal price action-wise, we’re going to break down what we see on the daily top 25 index chart. Yes, with Eightcap you can trade an index CFD over the top 25 coins. Let’s not what we’re watching. Clearly, we can see the descending triangle pattern that buyers broke out of, which also broke the long-term downtrend. All nice bullish signs so far. We’ve seen the first leg up that could be seen as a stage one. In the short term, we’ve seen resistance and supply develop, which has stopped the trend for now. The leg lower has beaten the fast uptrend, but it’s started to find demand and support off the 50 and 38.2fib points, which show a healthy retracement area. Where does that leave us? With mixed price signals in the short and medium-term, we want to see if buyers can maintain the fib points and make a new move to test resistance. A break of resistance and the trend should be back on. A fail at or below resistance that sets up a new lower high is a warning and could signal further seller momentum to come. If price moves back below the 50 or 61.8%, we would start to worry about the buyer’s control on the current leg high. The post Crypto Focus: Top 25 Coins Set for a Decline? appeared first on Eightcap.
A combination of fundamental factors can provoke Bitcoin to update the local bottom

Crypto Update: Bitcoin minor correction or something more?

8 eightcap 8 eightcap 06.04.2022 12:09
Looking at Bitcoin, we are seeing a few things to keep an eye on. So far, crypto markets look to be following equities lower after yesterday’s Fed shock around inflation worries and policy adjustment to try and correct it (rate rises). Today has seen a second straight day off losses for Bitcoin as sellers continue to hold sway. Fed members shocked risk markets yesterday after reports showed US inflation had climbed to 40-year highs. Their comments came in aggressive and suggested they’re ready to take action to try and rein in the current inflation problem. That normally means rate rises, and comments suggested a more aggressive approach could be coming soon. Bitcoin has been patchy at best over the last 5-trading days, with more of a range forming after the late March first leg lower. That leg broke the fast trend, and we saw an LH form after that break. These one-two patterns can be a good sign of further weakness coming. Selling continued (yesterday and today), confirming the pattern. That brings us to the level/area we are watching, and we have marked it with a green box on the D1 chart. This level is a demand area, and we can see this when buyers held firm on a few occasions. This area is important to us moving forward. If buyers can hold, we are looking at a possible minor correction in play which could turn into a new continuation higher. A move through the area and we could have a deeper move lower on our hands, and we will have to look and wait for when or if price can set a new higher low above or around the new trend line. Bitcoin D1 Chart The post Crypto Update: Bitcoin minor correction or something more? appeared first on Eightcap.
Trade Zone Week Ahead: Indices, Cable and Bitcoin in Focus

Trade Zone Week Ahead: Indices, Cable and Bitcoin in Focus

8 eightcap 8 eightcap 03.04.2022 18:00
In today’s Trade Zone Trading Week Ahead, Simon Massey joins us from Trade Room Plus to pick up the mantle for the month of April and discuss some of the trades he’s looking at as markets open today. In this first episode,  we look at the price action for US and European indices, Cable and Bitcoin. Watch the video below to get Simon’s latest insights. JOIN SIMON THIS WEDNESDAY FOR THIS WEEK’S LIVE MARKET UPDATE. REGISTER NOW. Join us at 9 PM AEDT (10 AM GMT) this coming Wednesday as Simon begins his monthly takeover of our Trade Zone series. Register now to attend the first live market update of April, as we analyse the key moves of the week and look ahead at the potential trade moves as the weekend approaches. It’s the perfect session to give you a few valuable pointers on what you should be watching as the trading week approaches its end. Got a burning trading question you need to answer, then stick around for the live Q&A at the end, and let Simon give his view. Registration is free. Click below to secure your seat. Simon Massey is the lead trader of Trade Room Plus, the UK’s premier Live Trade Room. He believes the best way to teach people to trade is to demonstrate live trades. His trading journey started with a small trading account. This led him to trade with ever-larger trading accounts until he was able to leave his previous job and become a full-time trader. Trade Room Plus was established in 2013 and provides educational services to help develop effective trading strategies. Beginners can watch the pros trade financial assets in real-time and learn first-hand from the experts. Important Data Releases & Events this Week Monday CNY Ching Ming Festival Holiday AUD Retail Sales GBP BoE Gov Bailey Speaks Tuesday CNY Ching Ming Festival Holiday AUD RBA Interest Rate Decision, Rate Statement GBP Composite & Services PMI Wednesday USD ISM Non-Manufacturing PMI GBP Construction PMI Thursday CAD Ivey PMI USD Crude Oil Inventories USD FOMC Meeting Minutes EUR ECB Monetary Policy Meeting Notes USD Initial Jobless Claims Friday CAD Employment Change The post Trade Zone Week Ahead: Indices, Cable and Bitcoin in Focus appeared first on Eightcap.
Crypto Focus: Another Week of Solid Gains and Heavy Selling

Crypto Focus: Another Week of Solid Gains and Heavy Selling

8 eightcap 8 eightcap 01.04.2022 10:10
This week got off to a similar start as last, with buyers controlling momentum for the first four days of trade. Friday saw a heavy fade set up with half of the week’s gains cut on the top 10 and top 25 indexes after seeing just over 10% of gains to the week’s high. Some headlines have come out where Bitcoin has briefly moved back above 48K. Ethereum is set for an upgrade, and it’s being called a merge. This will be a joining of mainnet and the beacon chain proof-of-stake system. The ‘merge’ will mark the end of proof-of-work (PoW) for Ethereum in favour of the proof-of-stake (PoS) mechanism. This is due in the second quarter of 2022. Ronin hack, around 600 million was stolen from the Ronin network. A blockchain associated with the popular pay-to-earn game Axie Infinity. This was one of the largest hacks in Crypto history. Around 173,600 Ether and 25.5 stable coins were taken. Looking at this weekend and next week’s session, we are wondering if the current fade is short term or if something deeper is happening here. This is the third straight week of solid gains before heavy selling developed. Following on from the fade, Ripple is in an interesting position. Price failed at key resistance and has made a breakthrough the fast uptrend. Price bounced off the main uptrend but, for now, sits in no man’s land. A hold after the test of the main trend line could set up a new continuation higher, but if we see a break of the main trend line, this could suggest that a deeper correction could be underway. The post Crypto Focus: Another Week of Solid Gains and Heavy Selling appeared first on Eightcap.
CFD Update: Platinum, Support hold starting new reversal?

CFD Update: Platinum, Support hold starting new reversal?

8 eightcap 8 eightcap 30.03.2022 04:56
Today our focus is on platinum as price continues to post a strong rebound after holding from key support in yesterday’s session. Buyers have so far added 1.60% today after we saw a new hold at 979. This level first developed as support back on the 15th of March after sellers were defeated. This point set up a new short term rally. Price was stopped at the key supply area, and once again, we saw a new raid by sellers taking price back down to 979. Overnight, things looked dire for bulls at one stage as price was hammered through support, hitting 958. The USD was a factor as it climbed, and other precious metals were also on the bid. Momentum returned into the NY session, and buyers flooded back, cancelling out the move lower to re-hold 979 support. At this stage, we can see not only support but a double bottom and false break. These are bullish signals. Price so far today is also backing up the signals. We want to see price hold above support and continue to move higher to give these signals confirmation. A break back below support cancels out the price signals. If we do see a rally back up to supply and resistance, we would think we could see some seller pressure there. Any new higher lows we want to see from above 979 support to maintain the price signals. Keep an eye on this Friday’s US Employment data as it could have an impact on the USD, which could impact precious metals. Platinum D1 Chart The post CFD Update: Platinum, Support hold starting new reversal? appeared first on Eightcap.
CFD News: US30, Have bulls started a new leg higher?

CFD News: US30, Have bulls started a new leg higher?

8 eightcap 8 eightcap 29.03.2022 10:26
As traders continue to watch the situation between Ukraine and Russia, we continue to see certain risk markets pull back losses seen on the outbreak of the conflict. The US30 is one of the indexes that have pulled together several solid weeks after setting lows in February. Since that low, we have seen just under 9% added back to the index after it hit its 32,215 low back in February. Oversold or the fact that the conflict may have been overdone in terms of selling or with both countries continuing to meet for talks, could be feeding the fightback. Let’s not sugarcoat it, this is a war, and there have been catastrophic repercussions on the Ukrainian people and the country due to the Russian invasion. Representatives from both countries are currently meeting in Turkey, and let’s hope they can find some common ground and bring an end to the fighting in Ukraine. Not that that will just fix the carnage that the country has gone through and bring back all the needless casualties seen since the start of the invasion. The US30’s fortunes might be intertwined with the talk in some aspects as if we see a peace agreement, and it is respected by the Russian government, this may continue to feed hopes of recovery. We can see the breakout this week that cleared 34,830 resistance. This has continued to confirm the overall V reversal pattern, and we’re looking for the breakout to maintain the idea we are seeing a new leg higher in the current trend. A failure strong as first thought. If the leg continues, we will be looking at 35,835 to show possible resistance if reached. Data wise, there are a few things traders will be watching this week. Today we have consumer confidence and Jolts job openings. Thursday, PCE price and index and Friday US employment data, including non-farm employment change. US30 D1 Chart The post CFD News: US30, Have bulls started a new leg higher? appeared first on Eightcap.
CFD Update: Oil, have sellers regained control?

CFD Update: Oil, have sellers regained control?

8 eightcap 8 eightcap 28.03.2022 07:44
Today we’re looking at oil. At the end of last week, sellers look to have regained control, pushing price lower on Thursday and stalling the recovery trend. Friday buyers did win the session, but the bar failed to test Thursday’s high. Today we saw price open 1.73% lower and quickly move back down to 109.50 before some buyer resistance emerged. 110 does show some short-term support, but our focus, for now, is on another pattern that has started to form. Looking at the daily chart, we were watching the recovery with interest to see if sellers could stall the rally and set up a Lower High pattern. That has started to come into fruition with last Thursday’s price stall and today’s move lower. From here, if you’re a bear, you would want to see selling continue with a close below the moving averages and through current ST support. The fast trend has also been broken, so if momentum continues and we see further selling, the medium-term trend line could be the next target, only if sellers can continue to get the ball rolling. Any counter-rallies from this point, we will want to see new lower highs form with lower lows after support is broken. If we see a new move from buyers that can close above last Friday’s close, that would be a warning, and a new move above 118.06 cancels out the LH and suggests buyers still remain in control. Oil D1 Chart The post CFD Update: Oil, have sellers regained control? appeared first on Eightcap.
Trade Zone Week Ahead: Non-Farm Payrolls in the Spotlight as Risk Turns Positive

Trade Zone Week Ahead: Non-Farm Payrolls in the Spotlight as Risk Turns Positive

8 eightcap 8 eightcap 27.03.2022 19:55
We wrap up this month’s Trade Zone Week Ahead coverage with a final look ahead at what’s in store this week as markets open. Last Friday ended on a positive note as Wall Street finished on a high, with both the Nasdaq and S&P500 posting positive gains for one of the best weeks of the year so far. All eyes this week will be whether this turn in sentiment continues. With the Ukraine conflict heading into new territory with talks of Russia wanting to divide the country in two, there are still plenty of headlines to keep traders on their toes, not to mention another Non-Farm payroll reading looming this coming Friday. With the Fed now pushing for further interest rate rises in the coming months, against a backdrop of a buoyant job market and rampant inflation, Friday’s result might just shed some further light on what Fed policy might look like in the months to come. In today’s Trade Zone Trading Week Ahead, we discuss the present scenarios in FX, indices, oil and gold. Watch the video below to get this week’s latest insights. REGISTER FOR THIS MONTH’S FINAL LIVE MARKET UPDATE WITH BORIS AND KATHY Join us at 10 PM AEDT (11 AM GMT) this coming Wednesday as Boris and Kathy complete their monthly takeover of our Trade Zone series. Register to attend the final midweek live market update for March, as we analyse the key moves of the week and look ahead at all the potential trade set up as the weekend approaches. It’s the perfect compact session to give you valuable pointers into what you should be watching out for as the month ends, and you also get the opportunity to ask experts the questions you have on your mind right now in a live Q&A. Registration is free. Click below to secure your seat. Boris Schlossberg is Managing Director of FX Strategy for BK Asset Management, Co-Founder of BKForex.com, and Managing Editor of 60secondinvestor.com. Widely known as a leading foreign exchange expert, Boris has more than three decades of financial market experience. In 2007, while still at FXCM, Boris started BKForex with Ms. Kathy Lien. A year later, Boris joined Global Futures & Forex Ltd as director of currency research where he provided research and analysis to clients and managed a global foreign exchange analysis team with Kathy Lien. Since 2012 Boris has focused exclusively on running BKForex.com where he generates trade ideas and designs algorithms for the FX market in partnership with Ms. Lien. He is the author of “Technical Analysis of the Currency Market” and “Millionaire Traders: How Everyday People Beat Wall Street at its Own Game”, both of which are published by Wiley. In 2020 Mr. Schlossberg started www.60secondinvestor.com a free website that distils the best of institutional investment research for retail investors. Important Data Releases & Events this Week Monday GBP BoE Governor Bailey speech Tuesday AUD Retail Sales, Wednesday EUR Inflation Rate USD JOLTs Job Openings, ADP Non-Farm Employment Change, GDP Thursday USD Crude Oil Inventories, Initial Jobless Claims GBP GDP CAD GDP Friday EUR CPI USD Non-Farm Payrolls, Unemployment Rate, ISM Manufacturing PMI The post Trade Zone Week Ahead: Non-Farm Payrolls in the Spotlight as Risk Turns Positive appeared first on Eightcap.
Your Crypto Focus: 26th March-1st April

Your Crypto Focus: 26th March-1st April

8 eightcap 8 eightcap 25.03.2022 09:47
This week, we’ve seen another mainly firmer week on the crypto boards, with the top 10 adding over 5% and the top 25 gaining over 5.5%. It wasn’t all smooth sailing as sellers tried to get things going lower early in the week before buyers returned and set the direction for the remainder of the week. Looking at the top 100, Qtum was one of the leaders this week, adding 45% and Looping had a fantastic week, climbing over 58% in the last seven days. ApeCoin failed to catch weekly buyer momentum, dropping over 18% during the week. One of the week’s stories to watch is reports Russia is looking at bitcoin as a payment form to settle energy transactions. Western sanctions continue to hit the Russian economy hard and effectively locked out of the USD FX market. The Kremlin is looking at other payment options, including Bitcoin. Putin has changed his tune on bitcoin. In 2021, the Russian leader told CNBC’s Hadley Gamble that while he believed bitcoin had value, he wasn’t convinced it could replace the U.S. dollar in settling oil trades. Now, the Kremlin’s top brass is weighing it as a form of payment for major exports. It’s unclear, however, whether bitcoin’s relative lack of liquidity could support international trade transactions of that magnitude. – CNBC This week we are focusing on a favorite that has, like many, seen a rough run over the last few months. Cardano started the year with two months of sharp declines that saw the price drop back to 0.7440. Since then, we’ve seen a fightback that’s produced two higher weekly bars, the first time since November 2021. This week’s price broke out of its long term downtrend, another firm sign that demand is back on track, which is what we want to see from here. If buyers can break 1.206 resistance, that would be another win, but we would like to see a new reaction in lower form. A new higher low that sets up a break and closes above that resistance point could send a firmer signal that this new run higher might actually turn into something more. The post Your Crypto Focus: 26th March-1st April appeared first on Eightcap.
Price Of Gold Heading To High Levels Again? Is $2000 Possible To Reach Shortly?

Price Of Gold Heading To High Levels Again? Is $2000 Possible To Reach Shortly?

8 eightcap 8 eightcap 25.03.2022 04:28
Looking at gold, buyers continue to push a case for a new rally higher. We saw the intense buying after Russia invaded Ukraine and the sell-off that followed last week. Was the selling a case of things becoming too overbought of? Could it be a case of buy the rumour sell the fact? Yes, we heard about talks and ceasefires, but the fighting didn’t stop. Our thoughts are that this could be an important indicator of where gold demand is truly at. The key driver has passed, and we saw the market react and then reverse. Currently, we are watching a new breakout from the consolidation that started on the 16th. Buyers stopped the selling and formed a range between 1916.50 and 1944. Yesterday price broke out of that range and continues to hold above that point today. A hold and continued move higher tells us that buyers are still in the market, and with continued momentum, we could see a new push to test resistance noted by the orange box at the 1992 area. Even if we see a pause at this area, if we continue to see new higher lows, we will look to see if buyers can continue the move. If we see a pullback to the orange box at 1940, this is also ok as long as buyers get price back above the range break. If we see a move by sellers that closes below the range bottom, we will be very suspect and could start to think that sellers are back in control. Gold D1 Chart The post CFD News: Gold, have bulls started a new move higher? appeared first on Eightcap.
Trade Zone Week Ahead with Boris Schlossberg (BK Forex): 21st – 25th March

Trade Zone Week Ahead with Boris Schlossberg (BK Forex): 21st – 25th March

8 eightcap 8 eightcap 20.03.2022 21:19
As expected, The Fed came out last week and approved a quarter percentage point interest rate rise,  its first since December 2018 and possibly one of many more to come as the U.S. faces up to rampant inflation. With that big decision now priced into the markets, all eyes will be on whether stocks will be able to sustain last week’s fresh gains into a second week. There are still many headlines to be written and with the Ukrainian conflict entering its second month, there may be many more twists and turns. In today’s Trade Zone Trading Week Ahead, we look ahead at potential moves in equities, oil, gold, Bitcoin and also discuss why forex might now be an interesting play. Watch the video below to get this week’s latest insights. REGISTER FOR THIS WEEK’S LIVE MARKET UPDATE WITH BORIS AND KATHY Join us at 10 PM AEDT (11 AM GMT) this Wednesday as Boris and Kathy once again take you through another midweek live market update, discussing the key assets and price points to be looking at as the weekend approaches. It’s the perfect session to get valuable insight into what’s currently hot in the financial markets, as well as an opportunity for you to ask your own questions to the experts in a live Q&A. Registration is free. Click below to secure your seat. Boris Schlossberg is Managing Director of FX Strategy for BK Asset Management, Co-Founder of BKForex.com, and Managing Editor of 60secondinvestor.com. Widely known as a leading foreign exchange expert, Boris has more than three decades of financial market experience. In 2007, while still at FXCM, Boris started BKForex with Ms. Kathy Lien. A year later, Boris joined Global Futures & Forex Ltd as director of currency research where he provided research and analysis to clients and managed a global foreign exchange analysis team with Kathy Lien. Since 2012 Boris has focused exclusively on running BKForex.com where he generates trade ideas and designs algorithms for the FX market in partnership with Ms. Lien. He is the author of “Technical Analysis of the Currency Market” and “Millionaire Traders: How Everyday People Beat Wall Street at its Own Game”, both of which are published by Wiley. In 2020 Mr. Schlossberg started www.60secondinvestor.com a free website that distils the best of institutional investment research for retail investors. Important Data Releases & Events this Week Monday EUR ECB President Lagarde Speaks Tuesday USD Fed Chair Powell Speaks Wednesday EUR ECB President Lagarde Speaks GBP CPI GBP BoE Gov Bailey Speaks USD Fed Chair Powell Speaks Thursday USD Crude Oil Inventories CHF SNB Interest Rate Decision, Monetary Policy Assessment, SNB Press Conference EUR German Manufacturing PMI GBP Composite, Manufacturing and Services PMI EUR EU Leaders Summit USD Core Durable Goods Orders USD Initial Jobless Claims Friday GBP Retail Sales EUR German Ifo Business Climate Index EUR EU Leaders Summit The post Trade Zone Week Ahead with Boris Schlossberg (BK Forex): 21st – 25th March appeared first on Eightcap.
Forex Update: Could the FED add to the USD woes?

Forex Update: Could the FED add to the USD woes?

8 eightcap 8 eightcap 17.03.2022 11:41
Today, the USD has continued its downside move, with fresh selling accelerating. The Ukrainian comments that peace talks are looking more realistic has set off risk demand with traders moving out of safe-havens and back into traditional risk assets, including stocks and currencies like AUD, GBP and EUR. Meanwhile, stock indexes in Europe and US futures are seeing firm gains heading towards the US session open. The Fed is another factor to watch today, because they’ll meet at 2 pm ET. FOMC is expected to raise rates by one-quarter of a percent, which will be its first move higher since 2018. “My guess is it’s going to sound a little more hawkish than people want it to sound, and that’s going to be a little tough to digest, particularly in the fixed income markets,”, David Zervos, chief market strategist at Jefferies, told CNBC’s “Closing Bell” on Tuesday. “I think the equity market might digest it a little better, but it’s going to be a tough swallow.” Hawkish is normally seen as a positive for the country’s currency, but we wonder how much could be factored in from the Fed? Could it disappoint an already weak USD? It will be interesting to see if the Fed can overrule factors in Europe that have been supporting higher USD values. Oil continues to sell off from its highs. On other hand, inflation fears on the front might have started to cool off in the short-term. We can see the lower highs (LH) on the daily US Dollar Index chart. If this point can continue to hold, we will look for a new short-term trend to remain in play—a break and close above the LH at 99.07. We will be looking for bulls to resume their push. USD Daily Chart The post Forex Update: Could the FED add to the USD woes? appeared first on Eightcap.
How Will The Day End For Forex And USD? Awaiting Fed Decision....

How Will The Day End For Forex And USD? Awaiting Fed Decision....

8 eightcap 8 eightcap 16.03.2022 11:41
Today, the USD has continued its move lower, with fresh selling accelerating today. Ukrainian comments that peace talks are looking more realistic has set off risk demand with traders moving out of safe-havens and back into traditional risk markets like stocks and risk currencies like the AUD, GBP and EUR. Stock indexes in Europe and US futures are seeing firm gains heading towards the US session open. The Fed is another factor to watch today, and they meet at 2 pm ET. The FED is expected to raise rates by one-quarter of a percent, its first move higher since 2018. “My guess is it’s going to sound a little more hawkish than people want it to sound, and that’s going to be a little tough to digest, particularly in the fixed income markets,” David Zervos, chief market strategist at Jefferies, told CNBC’s “Closing Bell” on Tuesday. “I think the equity market might digest it a little bit better, but it’s going to be a tough swallow.” Hawkish is normally seen as a positive for the country’s currency, but we wonder how much could be factored in from the Fed? Could it disappoint an already weak USD? It will be interesting to see if the Fed can overrule factors in Europe that have been supporting higher USD values. Oil continues to sell off from highs, inflation fears on the front might have started to cool off on the short term. We can see a LH on the daily USD chart. If this point can continue to hold, we will look for the new short term trend to remain in play—a break and close above the LH at 99.07. We will be looking for bulls to resume their push. USD Daily Chart The post Forex Update: Could the FED add to the USD woes? appeared first on Eightcap.
Trade Zone Week Ahead with Boris Schlossberg (BK Forex): 14th – 18th March

Trade Zone Week Ahead with Boris Schlossberg (BK Forex): 14th – 18th March

8 eightcap 8 eightcap 13.03.2022 19:00
It’s a big week for the US Fed this week, as it meets to push through its first increase in interest rates since the pandemic, against an increasingly volatile situation in Ukraine. Last week, the markets witnessed parabolic moves for both oil and gold as risk-off sentiment increased, however, those moves didn’t last long and soon reversed. As the trading bell tolls this week, the headlines will continue to be driven by fundamental factors, which will no doubt drive even further volatility if things seemingly get worse. In today’s Trade Zone Trading Week Ahead, we examine those severe moves in Oil and Gold, while also looking ahead at a few pertinent forex pairs, as well as the Nasdaq and Bitcoin. Watch the video below to get this week’s insights ahead of the market open. https://youtu.be/zifdtVdCcK0 Join us this Wednesday at 10PM AEDT (11AM GMT) as Boris and Kathy take you through another live market update, focusing on how price action is shaping up into the weekend. It’s the perfect session to get valuable insight into what’s hot in the financial markets, as well as give you the opportunity to ask the experts your questions in the live Q&A. Click the banner below to register. Registration is free. Boris Schlossberg is Managing Director of FX Strategy for BK Asset Management, Co-Founder of BKForex.com, and Managing Editor of 60secondinvestor.com. Widely known as a leading foreign exchange expert, Boris has more than three decades of financial market experience. In 2007, while still at FXCM, Boris started BKForex with Ms. Kathy Lien. A year later, Boris joined Global Futures & Forex Ltd as director of currency research where he provided research and analysis to clients and managed a global foreign exchange analysis team with Kathy Lien. Since 2012 Boris has focused exclusively on running BKForex.com where he generates trade ideas and designs algorithms for the FX market in partnership with Ms. Lien. He is the author of “Technical Analysis of the Currency Market” and “Millionaire Traders: How Everyday People Beat Wall Street at its Own Game”, both of which are published by Wiley. In 2020 Mr. Schlossberg started www.60secondinvestor.com a free website that distils the best of institutional investment research for retail investors. Important Data Releases & Events this Week Tuesday AUD RBA Meeting Minutes USD PPI Wednesday JPY Balance of Trade CAD CPI USD Core Retail Sales Thursday USD Fed Interest Rate Decision, FOMC Economic Projections, Fed Press Conference NZD GDP AUD RBA Bulletin, Unemployment Rate GBP BoE Interest Rate Decision Friday JPY Inflation Rate, BoJ Interest Rate Decision The post Trade Zone Week Ahead with Boris Schlossberg (BK Forex): 14th – 18th March appeared first on Eightcap.
Blockchain Gaming - Where NFT, RPG And Layer 2 Meet

WAVESUSD Has Noticeably Increased Since The Beginning Of The Russia-Ukraine Warfare

8 eightcap 8 eightcap 11.03.2022 13:03
At this point, we have a flat end to a choppy week. Markets continue to deal with the ongoing conflict in Ukraine that’s been chopping up risk markets. The top 10 and 25 started the week with a solid move lower. Before buyers flooded back into coins on Tuesday. Feverish buying continued on Wednesday, and it came as a real surprise as markets were flat till lunchtime AU time. Gains reminded us of past times as many of the top ten jumped to 8% plus gains, and some coins hit 10-15% gains. The reason was unclear at the time, but news soon hit that Biden’s executive order was leaked. Traders have been nervously awaiting the details of this order as it was set to show how the US government was going to treat and regulate crypto assets. Cameron Winklevoss, president of crypto exchange Gemini Trust, wrote Wednesday that Biden’s executive order is a “watershed moment” for the industry. “It paves the way for thoughtful national crypto regulation that will allow builders to build onshore and ensure that the US remains a leader in crypto,” he wrote. “It is important for various agencies (federal and state!) and Congress to work closely together,” Winklevoss added. “The WH recognizes the importance of overarching public policy and national interest rising above narrow jurisdictional battles to best develop a coherent and cohesive framework.” The crypto world saw the bill as a win, and that was definitely reflected in prices in Wednesday’s session. This was short-lived as sellers came back with a vengeance on Thursday, and most of Wednesday’s solid gains were all or close to being erased. Buy the rumor, sell the fact, combined with failed proposed talks between Russia and Ukraine, could be some of the influences that sent prices lower. Traders made late recoveries on Friday as futures, and other risk assets gained traction during the London session. The top 10 and 25 turned positive last in the session. Waves was a real standout during the week, and it paid little attention to a lot of the external influences we saw during the week. Price started the week at 16.88 and hit a high of 30.88. A gain of 45%. 29.40 is presented as resistance on the weekly chart, but we will be watching to see if price can respond to a new pullback and retest resistance, suggesting the current rally has further to go. The post Your Crypto Focus: 12th-18th March appeared first on Eightcap.
Crypto Update: Buyers Return, Solana Avalanche focus

Crypto Update: Buyers Return, Solana Avalanche focus

8 eightcap 8 eightcap 09.03.2022 07:08
Today, Crypto markets continue to see plenty of fresh demand, taking this week’s fightback to two days. Strong buying is a good turn for holders and buyers as price has been beaten down in recent weeks due to the ongoing conflict between Russia and Ukraine. For many coins, yesterday’s finish was far from confident, but that’s a memory at this point today with quite a modest double-digit percentage gains at the moment. The top 10 and 25 are all in the mix, and the indexes of those coins are a healthy +6% higher. One might have been a little worried about external factors like Bidens crypto executive order and the ongoing conflict in Europe. Biden is set to release the order this week, and traders will be watching with interest in the details and how it could change the way the U.S. treats digital assets. Today we are looking at two of the top 20. These two coins are favourites of the market but not in the top five. Solana SOLUSD – currently price is trading 8% higher back above $88. For now, buyer momentum looks firm, and we need to see price hold above 80.60 support. This is the base of our expectations on the buy-side, and a break below that level writes off the other patterns we are watching. Overall, we can see that price is in a descending triangle pattern and an ending diagonal pattern. Both of these can be seen as breakout patterns if confirmed by a new move out of them. But we have to see support hold. Avalanche AVAXUSD is one of my favourite coins just due to how much it can move. It reminds me of some of the wilder FX and index markets. AVAX has traded as much as 9.88% higher, retaking $79. AVAX, like SOL has key support to defend, but we can see a break of the downtrend with a range in play and a new uptrend continuing to set up. We want to see 71.10 remain in play as support. A break below changes the picture, but while this level remains held, we will look for further upside. 85.55 looks like the next level of resistance if reached. The post Crypto Update: Buyers Return, Solana Avalanche focus appeared first on Eightcap.
CFD Update: Three Markets to Watch as Markets Open Today

CFD Update: Three Markets to Watch as Markets Open Today

8 eightcap 8 eightcap 07.03.2022 12:08
Markets have started the week with further heavy selling as the conflict in Ukraine continued to intensify. From Friday’s crazy reports of Europe’s largest nuclear power plant being shelled to broken ceasefires and trapped residents unable to evacuate. Today’s reports suggested Russia had agreed to stop fighting on their side to finally allow trapped residents to evacuate to safe zones.  Oil and Gold have been headline movers, but it hasn’t been all about them. We have continued to watch stock drops on stock indexes. European indexes and Asian indexes have been particularly hard hit, with several losing over 15% in the last two monthly bars, including this month. Oil has not only been a flyer as the world watches Russia and Ukraine, but the energy shock has sent oil prices flying. WTI has seen over 40% added in the last two months, and the rally has been running for the last four months straight. Oil jumped to 13-year highs today as reports mentioned the U.S and Europe could look at banning Russian crude imports.  Getting back to stock indexes, the oil rally has also contributed to the decline. Oil at these highs ramps up inflation fears, that are already running hot and start to put growth pressure back on economies that are just beginning to come out of the pandemic. Business requires energy. High energy costs make business more expensive and can be passed onto the consumer, increasing the cost of goods.  Surging inflation has mainly been a US and European issue, but if it ramped up all over the world, many economies might not be ready to start raising rates to combat it. For instance, Australia’s building industry has been kept alive by a super-hot housing market. Rising rates could cool off the housing market and put pressure on the building and trade industries. One major building group just failed. Higher rates and reduced business could show cracks in more companies.  We’ve picked a few markets out to take a closer look.  Euro Stoxx 50 The Euro Stoxx 50 lost 20% to its low. Europen shares, especially German shares, have been hit hard by the conflict in Ukraine. Sellers have cut close half of the rally seen from 2020. Today sellers retraced all gains made in 2021 after hitting 3381.  Hang Seng Index This one went a little under the radar, but I saw the damage that has been done to this index and was quite surprised. 14% has been wiped off the index in the last two months and the price today slipped below the 2020 low. When you compare it to the JPN225 that’s where the shock comes from, as it has dropped 8%. Gold Gold has been a significant talking point during the crisis. Good old Gold went straight back to safe mode as traders looked for a safe bet in a time of crisis. The rally in the last two months has been rather explosive. Buyers have added over 11% to the value, and we saw $2000USD touched today. Price now sits 3.72% away from retesting highs set back in 2020 in the heart of the pandemic. Another factor that might be adding to the appreciation. Reposts suggest that Gold could be being used to pay for oil. This is interesting as oil has always been paid for in USD. But with Russia partially locked out of SWIFT and the Fed blocking their USD transactions, Gold could be a new payment option moving forward.  Uncertainty presents Volatility Currently, our margin levels remain unchanged across all instruments and we offer one of the best swap conditions on key instruments such as Gold. Make the most out of market movements right now with Eightcap. For more information on market updates and our swap rates, please contact our award-winning customer service team. The post CFD Update: Three Markets to Watch as Markets Open Today appeared first on Eightcap.
Your Crypto Focus: 5th-11th March

Your Crypto Focus: 5th-11th March

8 eightcap 8 eightcap 04.03.2022 14:13
It was another week of trade that, in many ways, continues to be governed by the ongoing conflict between Russia and Ukraine. The week started with a sharp decline but buyers soon came back to life after new lows were hit since the Russian invasion began. Monday and Tuesday saw a follow-up to the buyback with solid gains that have not been seen for a while, hitting a lot of the top ten. For instance, Bitcoin added over 17% in two sessions. This type of buyer momentum got people excited and started to remind us of years just gone by. Sadly, the momentum didn’t last, and we have seen three to two days of declines leading into the weekend session. But the declines have not been market-wide, and we have seen exceptions on the boards, with several coins continuing to fly higher. LUNA, ROOK, ATOM and RUNE have been standouts, but Waves has stolen the show, hitting +67% with a weekly high of $20.87. The top ten and most of the top 25 followed tensions in Europe. As the fighting intensified, markets declined. Today, selling continued to pick up as fighting turned critical as news hit of a major nuclear power station being shelled. As of Friday, many of the top ten and 25 remained in the blue but well off earlier highs. Traders will continue to monitor the ongoing invasion of Ukraine, looking for signs of anything escalating and forcing risk markets lower. US authorities also said they would target Russian funds moving into Crypto. However, proving and stopping it may not impact the currencies. This week we want to look at Bitcoin in more detail. $44,600 has been reconfirmed as resistance and, for now, has stopped the rally. This level is our roof, and a move through would suggest that buyers are still in control. On the downside, we received 36,800 support. If the price returns to this level and breaks through it, we will be looking for sellers to try and resume the downtrend. Otherwise, a hold in-between these two levels suggests we have a consolidation range on our hands. The post Your Crypto Focus: 5th-11th March appeared first on Eightcap.
Crude Oil (WTI) - USOIL Price Is Close 11-Year-High

Crude Oil (WTI) - USOIL Price Is Close 11-Year-High

8 eightcap 8 eightcap 02.03.2022 11:03
Today we’re taking a look at oil from a longer-term view after price briefly tested $111. We all know the driver for this month’s surge in the price of oil. Our question as price has started to move back to levels not seen since 2011 is how much further does it have to go? We have to start looking at the conflict in Europe and think has it started to be factored into price? Obviously today that answer could be no as we’ve seen over 11% added to USOUSD (WTI) this week. The reasons for this rally are not exactly like what we saw drive price in 2008. Yes, supply disruptions drove price and supply disruptions are a factor here, but this time it’s centred around Russia’s invasion of Ukraine. What happens if the two nations form a peace agreement or on a darker note what happens if Russia escalates the situation? De-escalation we would be looking for price to fall but on escalation, you would think that the rally would continue. Price-wise oil has reached heavy resistance formed back in 2011-2013. The ending diagonal that formed in this resistance actually sunk the last rally above $100. Price looks overextended at this point but the drivers of the rally can’t be discounted. We are looking to see if buyers can break and hold above $112 – $115. A hold above these points could start to set up a new shift in pricing. It could also set off further inflation worries and start to develop global growth worries which could alter current central bank plans. In the levels discussed we see solid supply. It will be a firm statement if buyers can get comfortable back above those levels. From there if dynamics stay supportive, anything could be possible. Traders will need to keep a close eye on geopolitical tensions to see if the drivers continue to feed demand. If things change and price fails to break $112-$115 we could see a fast pullback. The $80 area could be the first port of support. Oil Monthly Chart Chart source, Net Dania Finance chart Uncertainty presents volatility Currently, our margin levels remain unchanged across all instruments and we offer one of the best swap conditions on key instruments such as Gold. Make the most out of market movements right now with Eightcap. For more information on market updates and our swap rates, please contact our award-winning customer service team. The post CFD Update: Oil set to retest 2011 highs? appeared first on Eightcap.
FC Porto Fan Token -

FC Porto Fan Token -

8 eightcap 8 eightcap 28.02.2022 16:43
TL;DR FC Porto Fan Token (PORTO) is a BEP-20 utility token of the FC Porto football club. PORTO was launched in 2021 via a Binance Launchpad sale, and it gives fans and token holders exclusive experiences and privileges.  PORTO holders can participate in voting polls for club-related decisions, such as choosing the warm-up song and the welcome message to display in the next match. PORTO can also be used to purchase FC Porto’s NFT Mystery Boxes, and the NFTs can then be used for staking to earn extra PORTO rewards on the Binance Fan Token Platform.   Introduction Dedicated fans can now interact with their favorite sports teams and celebrities in a more innovative and direct way in the crypto world. Fan tokens are the latest trend that leverages blockchain technology to create exclusive experiences for sports enthusiasts and fans alike.     What are Binance Fan Tokens? Binance Fan Tokens are utility tokens associated with sports clubs, teams, celebrities, or brands with a large fan base. Fan token holders can enjoy unique fan privileges, such as accessing exclusive pre-sales for event tickets and collecting special Non-Fungible Tokens (NFTs). In some cases, they can also influence club-related decisions like choosing new team uniforms, entrance music, and more. The Binance Fan Token Platform is the official partner of several football teams, including the S.S. Lazio (LAZIO), FC Porto (PORTO), and Santos FC (SANTOS). Unlike NFTs, Binance Fan Tokens are completely fungible tokens. Just like BNB, Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies. Being fungible means that every token unit holds the same value and utility.   What is FC Porto Fan Token (PORTO) and how does it work? Founded in 1893, the FC Porto football club has won the most international titles in the Portuguese Premier League and many other impressive achievements across Europe, such as the UEFA Champions League. To incentivize its worldwide supporters, the club partnered with Binance in 2021 to release the FC Porto Fan Token (PORTO). PORTO is the second sports fan token released through a token sale on the Binance Launchpad. It is a BEP-20 utility token on the BNB Chain (former Binance Smart Chain, BSC), with a total token supply of 40 million. PORTO has several fan-engagement use cases within the Binance ecosystem. As a utility token, PORTO gives holders governance rights to participate in voting polls related to the Portuguese football club. The more fan tokens they hold, the greater influence their vote will have on these fan-related decisions. For example, PORTO holders can choose the team's warm-up song for an upcoming match, as well as the welcome message to display during a match. Apart from governance rights, token holders can use their PORTO to purchase FC Porto’s NFT Mystery Boxes. These mystery boxes contain neutral, rare, or super rare NFTs from a unique collection. For example, the first PORTO NFT collection featured the team’s legendary goalkeepers. The PORTO NFTs are more than digital collectibles. They can also be used for staking on the NFT PowerStation, an innovative gamification feature on the Binance Fan Token Platform. By charging the required NFTs, fans can power up their fandom and claim extra PORTO rewards. The longer their NFTs are charged, the better their fan rewards. The NFTs can also be traded on the Binance NFT Marketplace. In the future, token holders will be able to use their PORTO for loyalty subscriptions, such as earning special rewards and fan badges, going to “meet and greet” events with team players, and receiving free merchandise. Fans can also use PORTO to purchase match tickets and pay for memberships on FC Porto’s e-commerce platform via Binance Pay.   How to buy PORTO on Binance? You can buy PORTO on crypto exchanges like Binance. 1. Log into your Binance account and go to [Trade] to select either the [Classic] or [Advanced] trading mode. 2. Click on [BTC/USDT] to open the search bar. Enter “PORTO'' to view available trading pairs. We will use PORTO/USDT for this example. 3. Go to the [Spot] box on the right and select your order type. For example, a market order. Enter the amount of PORTO you would like to buy, then click [Buy PORTO] to place the order. Your purchased PORTO will be credited to your Spot Wallet.         Closing thoughts Fan tokens are fuelling a new era of fan experiences by offering an innovative channel for fans to interact with their favorite teams. With the Binance Fan Token Platform adding new use cases to fan tokens, PORTO is expected to bring more exciting experiences to holders in the future.
Trade Zone Week Ahead with Boris Schlossberg (BK Forex): 28th February – 4th March - 27.02.2022

Trade Zone Week Ahead with Boris Schlossberg (BK Forex): 28th February – 4th March - 27.02.2022

8 eightcap 8 eightcap 27.02.2022 19:00
As we head into a new month, Boris Schlossberg of BKForex takes over the reins for our Trade Zone Trading Week Ahead for the month of March. Amidst an increasingly volatile background driven by geopolitical tensions, Boris gives his take on the assets that matter this week, looking at current short-term positions for Gold and Oil, as well as potential setups for indices and forex from both a technical and fundamental perspective. Watch the video below to get all the insight ahead of market open today. Boris Schlossberg is Managing Director of FX Strategy for BK Asset Management, Co-Founder of BKForex.com, and Managing Editor of 60secondinvestor.com. Widely known as a leading foreign exchange expert, Boris has more than three decades of financial market experience. In 2007, while still at FXCM, Boris started BKForex with Ms. Kathy Lien. A year later, Boris joined Global Futures & Forex Ltd as director of currency research where he provided research and analysis to clients and managed a global foreign exchange analysis team with Kathy Lien. Since 2012 Boris has focused exclusively on running BKForex.com where he generates trade ideas and designs algorithms for the FX market in partnership with Ms. Lien. He is the author of “Technical Analysis of the Currency Market” and “Millionaire Traders: How Everyday People Beat Wall Street at its Own Game”, both of which are published by Wiley. In 2020 Mr. Schlossberg started www.60secondinvestor.com a free website that distils the best of institutional investment research for retail investors. Important Data Releases & Events this Week Tuesday CNY Manufacturing PMI AUD RBA Interest Rate Decison Wednesday EUR German Inflation Rate, Unemployment Rate EUR Eurozone CPI CAD GDP USD Markit Manufacturing PMI AUD GDP Thursday CAD BoC Interest Rate Decision EUR ECB Monetary Policy Meeting Friday USD ISM Non-Manufacturing PMI Saturday USD Non-Farm Payrolls, Unemployment Rate The post Trade Zone Week Ahead with Boris Schlossberg (BK Forex): 28th February – 4th March appeared first on Eightcap.
Trade Zone Week Ahead with Boris Schlossberg (BK Forex): 28th February – 4th March

Trade Zone Week Ahead with Boris Schlossberg (BK Forex): 28th February – 4th March

8 eightcap 8 eightcap 26.02.2022 19:00
As we head into a new month, Boris Schlossberg of BKForex takes over the reins for our Trade Zone Trading Week Ahead for the month of March. Amidst an increasingly volatile background driven by geopolitical tensions, Boris gives his take on the assets that matter this week, looking at current short-term positions for Gold and Oil, as well as potential setups for indices and forex from both a technical and fundamental perspective. Watch the video below to get all the insight ahead of market open today. Boris Schlossberg is Managing Director of FX Strategy for BK Asset Management, Co-Founder of BKForex.com, and Managing Editor of 60secondinvestor.com. Widely known as a leading foreign exchange expert, Boris has more than three decades of financial market experience. In 2007, while still at FXCM, Boris started BKForex with Ms. Kathy Lien. A year later, Boris joined Global Futures & Forex Ltd as director of currency research where he provided research and analysis to clients and managed a global foreign exchange analysis team with Kathy Lien. Since 2012 Boris has focused exclusively on running BKForex.com where he generates trade ideas and designs algorithms for the FX market in partnership with Ms. Lien. He is the author of “Technical Analysis of the Currency Market” and “Millionaire Traders: How Everyday People Beat Wall Street at its Own Game”, both of which are published by Wiley. In 2020 Mr. Schlossberg started www.60secondinvestor.com a free website that distils the best of institutional investment research for retail investors. Important Data Releases & Events this Week Tuesday CNY Manufacturing PMI AUD RBA Interest Rate Decison Wednesday EUR German Inflation Rate, Unemployment Rate EUR Eurozone CPI CAD GDP USD Markit Manufacturing PMI AUD GDP Thursday CAD BoC Interest Rate Decision EUR ECB Monetary Policy Meeting Friday USD ISM Non-Manufacturing PMI Saturday USD Non-Farm Payrolls, Unemployment Rate The post Trade Zone Week Ahead with Boris Schlossberg (BK Forex): 28th February – 4th March appeared first on Eightcap.
We Might Say PAX Price (PAXUSD) Wasn't Negatively Affected By The Thursday's Events

We Might Say PAX Price (PAXUSD) Wasn't Negatively Affected By The Thursday's Events

8 eightcap 8 eightcap 25.02.2022 13:30
What a week, from crashing lows that started to point towards extensions in current medium-term downtrends to a late-week save that really came out of nowhere and looks to be telling us that price may have hit exhaustion lows? The week started OK for most of the top 10 and 25 as prices tested higher but failed to get real traction happening. Then this week’s crisis hit. First, we saw Russia pledge support to the two breakaway parts of Ukraine that claimed independence from the Ukrainian government. Russia was quick to recognise and send in peacekeeping troops that many saw as a proxy invasion. Crypto fell on these developments, but worse was yet to come. Wednesday buying was cut short as cyber attacks hit Ukraine and Europe, but Thursday lunchtime AEDT, the unthinkable had happened, Russia had launched a ground and air assault on Ukraine. As you would expect, coins were savaged, and at one stage, it looked like Armageddon had hit the crypto world. While we saw multiple coins plunge by over 10% in stages of the day, (ETH -12%, AVAX -15%, SHIB -18%), some bucked the sell-off and actually soared off the uncertainty. We suggest anyone interested by this may want to take a look at PAX. On the day of the invasion, PAXUSD jumped by 6%, hitting 2029. In a week, which showed us that while most cryptos remain in the risk basket, PAX could be a safe-haven coin of the group. Thursday’s drama didn’t end there marketwise either. Late into the NY session, buyers charged back into the market. Price not only pulled back losses, but many coins also finished the day higher. This capped off one of the most volatile sessions we have seen this year. For example, ETH finished the day with a 15% range, and SOL was close to 20% in its daily range. This week we want to focus on another stronger coin. LUNA so far has seen a great week despite the geopolitical crisis that continues in Europe. Price has added over 20%, trading back above 65. Technically there’s a bit to like about LUNA, we can see resistance becoming support with a new higher low and this week, buyers have broken out of the range and beaten the medium to a long-term downtrend. Definitely, one to keep an eye on as we head into a new week and fresh opportunities of increased volatility. The post Your Crypto Focus: 26th February – 4th March appeared first on Eightcap.
Market Update: NDX100 posts surprise rally reversal pattern starting to form?

Market Update: NDX100 posts surprise rally reversal pattern starting to form?

8 eightcap 8 eightcap 25.02.2022 06:30
Today we’re starting to watch what could be a developing reversal pattern on the NDX100 D1 chart. I’m sure we’re all aware of the disaster that the markets faced yesterday. The script went to que as we watched stock indexes plunge after news that Russia had invaded Ukraine hit the markets. This continued what had been a long sharp downtrend on the NDX100 and other major stock indexes. But what a lot of us may not have seen coming was a risk recovery late in the US session. Not only did stock indexes reverse losses but other risk markets followed and safe havens plunged, refer to gold. Why did we see the change in momentum? Could markets have simply reached a value point and shaken off the news? Could news of Russia offering to sit down and talk with Ukrain spurred buyer interest? Regardless of the reason it happened, now we are looking at levels and patterns being formed to start trying to form some opinion of the current picture. Firstly, we can see that the low stopped in a demand area and for now price closed firmly above the test. Another pattern we are starting to watch is in early development but has started to show some shape. That pattern is an inverse head and shoulders and these can be reversal patterns. Yes, we have the first shoulder and a head but we still need a second shoulder and a break of a neckline to fully confirm a completed pattern. It’s definitely something to keep in mind but as mentioned it’s still a fair way off. For now, we want to see buyers continue to post gains to show control, traders still need to keep the macro situation in mind as any escalations could resume the selling. NDX100 D1 Chart The post Market Update: NDX100 posts surprise rally reversal pattern starting to form? appeared first on Eightcap.
(WETH) Wrapped Ether Explained. What Is It?

Crypto Update: Ethereum returns to support after a horror day

8 eightcap 8 eightcap 24.02.2022 11:34
Today the worst-case scenario happened, Russia invaded Ukraine. This set off another round of heavy selling on the Crypto markets. The top 10 suffered badly with just over 11% taken off their value at the day’s low. Ethereum was one of the worst-hit in the top 10, price plunged just over 12% to its new low. Currently, we’re watching the 2,350 support as this level did show plenty of demand back in January on the last key low set by sellers. Price so far, for now, has continued to see some demand at this point but let’s be honest these are not normal times. Crypto at this point is far from an alternative store of wealth. Coins are not in a safe-haven class at the moment, they’re flat out risk assets and are being treated that way. Gold on the other hand has resumed its safe-haven status. This is not a knock or attack on Crypto just the reality of the situation. Back to the Ethereum d1 chart. While I’d love to back in the current support level it’s hard under the current circumstances. Escalations could send prices lower and a break of support could set up a move back to the Jan low and a move through that point could suggest 2,000. If support can hold and things in Europe start to stabilize a little we could see a recovery rally. We will be looking for long tails showing exhaustion and fresh demand emerging. But we stress any longs will need to be quick-thinking if sellers return en masse. Ethereum D1 (ETHUSD) The post Crypto Update: Ethereum returns to support after a horror day appeared first on Eightcap.
How the Russia-Ukraine crisis has reflected on the financial market so far

How the Russia-Ukraine crisis has reflected on the financial market so far

8 eightcap 8 eightcap 23.02.2022 12:11
Over the last several weeks, traders would have heard of and watched the unfolding Ukraine crisis. Russia built up a mass of troops and military hardware on the border, which started sending shockwaves through the markets that an invasion and new European conflict could be developing. This is not the first time we have seen Russian aggression towards Ukraine. In 2014 we all watched as Russia annexed Crimea after Moscow said it supported the liberty and backing the people’s free will as they wanted to rejoin Russia and break away from Ukraine. During this round, the situation felt and looked different due to the sheer build-up of the Russian military. Ukraine requesting to join NATO and the possibility of U.S./NАТО bases being built in Ukraine look like a flashpoint for the Russian side. Despite talks and negotiations, Russia continued to amass military close to the border, feeding invasion fears. Reasons continued to put out by the Kremlin, scheduled military exercises with Belarus. These failed to settle nerves as Western leaders continued to put forward prosed crippling sanctions that would be imposed if Russia invaded. The worst seemed possible late last week, and reports emerged of explosions and fighting in the two eastern parts of Ukraine. Russian tank numbers also increased, and we all thought it was just a matter of when we would see a Russian invasion. Biden offered Putin a summit only if he hadn’t invaded at the final hour. This is off the table now that Russia has once again pulled off another Crimea to a degree. Yesterday we heard that the two Eastern areas of Ukraine had voiced their right to become independent. The Kremlin supported them immediately and advised it had crossed the border to support a peaceful transition with a peacekeeping mission. In other words, a proxy invasion. President Biden has called this an invasion of Ukraine and announced sweeping sanctions on the Russian bank VEB and its military bank and cuts them out of any USD transactions. Individual sanctions, Biden said the adult children and members of Putin’s inner circle “share the corrupt gains of the Kremlin’s policies, and so they ought to share in the pain as well.” The sanctions on Russia’s sovereign debt expand upon Biden’s existing restrictions set in 2021 and prohibit American banks from trading shares in and or lending to several significant Russian sovereign debt funds. Prime Minister Johnson also made good on his threat of sanctions. The first tranche of sanctions would target Rossiya, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank. The new sanctions also include three “very high net worth” individuals: Gennady Timchenko, Boris Rotenberg and Igor Rotenberg. Germany has halted approval of the Nord Stream 2 pipeline due to Russia’s actions, and the EU has agreed on sanctions to hurt Russia. The crisis had a significant impact on the markets. As you would expect, we have seen plenty of movement away from risk markets, but it hasn’t been totally black and white. Energy, oil has been driven higher during the crisis, and we’ve watched USOUSD (WTI) jump by 28% in the last three months. Price trading at $96 this week. Spot gas surged this week, hitting 6.70 but has pulled back to 4.31. Russia is a major energy supplier to Europe. This is a major card they hold. Traders will be watching oil and gas as any new aggression could cause oil to spike. We could even see $100 or higher reached again. The markets are a funny beast, and if they see the situation as calm, don’t be surprised if we continue to see price pullback. Sky-high oil prices could impact the FED. Crude prices can drive up inflation and slow down the global economy. A surge in oil could cause the Fed to rethink its pace of hiking due to growth concerns. FX, the USD and JPY have seen phases of demand during the crisis, but they have been far from dominant. Looking at this month’s trade so far, we can see that mainly the EUR has been most affected with falls to the two safe-havens. The GBP has been flat, and the AUD has been stronger. The AUD rallied yesterday as the situation developed and so far looks to be ignoring the situation. If we had seen an all-out invasion and this could still be a possibility, we would expect a traditional reaction on FX with the USD and JPY rallying on safe-haven demand. Gold has seen strong demand during the crisis. Traders jumping back into the metal as it moves back to a safe haven. This is not strange. Gold has always had multiple functions in the market, and in times of war or crisis, traders can look to it over fiat. Looking at the current month on the monthly chart, we can see this clearly in action as price has jumped by over 5%. The weekly shows a triangle breakout, but we will need to watch ongoing developments to see if buyer momentum remains. The Ukrainian crisis has hit stock indexes that could have been seen as overvalued. The Dax, in particular, has been hit hard. U.S. and Asian indexes haven’t been spared with heavy selling over the last two weeks. Markets fought back yesterday after the SP500 touched correction territory, and as mentioned above, traders will be focusing on the escalation of the crisis. If the situation intensifies, we would be looking for further lows, and if things continue to calm down, we could see counter-rallies and ranges set up. Cryptocurrencies have traded mainly lower during the crisis. Clearly, we can see at this point that they’re viewed as risk assets and are acting accordingly. It hasn’t been all one-way traffic, Kyber has added 38% YTD and so far has resisted the falls we have seen on the top 10 and top 25 indexes. Coins have been firmer since Tuesday’s updates, following other risk markets higher. Polkadot, Cardando were two top ten coins that hit new lows for 2022 before value buying returned this week. Again, we see the fortunes of most coins tied to risk demand. If things escalate, we will be looking for further declines across the top 10 and 25. The post How the Russia-Ukraine crisis has reflected on the financial market so far appeared first on Eightcap.
Trade Zone Week Ahead with David Floyd (Aspen Trading): 21st – 25th February - 21.02.2022

Trade Zone Week Ahead with David Floyd (Aspen Trading): 21st – 25th February - 21.02.2022

8 eightcap 8 eightcap 21.02.2022 08:36
We begin to wrap up David Floyd’s coverage of the Eightcap Trade Zone this February, as he tackles this week’s trading week ahead and notes the levels we should be taking note of as markets open today. If you trade the S&P500, or have an interest in Forex pairs you won’t want to miss his latest insight! David Floyd is the Founder of Aspen Trading Group. He started his career in the trading industry in 1993. His focus eventually shifted to equities and spent the next years trading on a proprietary equities desk. In 2002, Floyd started Aspen Trading and has grown from a pure prop trading firm into becoming the leading provider of expert FX research and analytics worldwide. With over two decades of expertise in global fundamentals and technical analysis, Floyd has been profiled in RealVision TV, CNBC, and Bloomberg. Important Data Releases & Events this Week Monday EUR Manufacturing PMIs from Germany, France and Eurozone USD Bank holiday in observance of US Presidents’ Day GBP Manufacturing and Services PMI from UK Tuesday EUR German Ifo Business USD Consumer Confidence (CB), Flash Services and Manufacturing PMIs and S&P/CS House Price Index Wednesday NZD RBNZ Interest Rate Decision, Rate Statement and Press Conference Friday USD Preliminary GDP, unemployment claims and new home sales GBP BOE Gov Bailey speaks EUR ECB President Lagarde speaks Saturday USD Fed Monetary Policy Report The post Trade Zone Week Ahead with David Floyd (Aspen Trading): 21st – 25th February appeared first on Eightcap.
What Will Happen On Crypto Market In The Following Week?

What Will Happen On Crypto Market In The Following Week?

8 eightcap 8 eightcap 18.02.2022 08:22
Well, so far, we’ve seen another choppy week with rallies and sell-offs. The week started on a positive note as buyers regained control after a weak end to the previous week. Buying jumped on Tuesday and peaked on Wednesday. At this point, you would have been justified in thinking, could we be set to start testing last week’s highs? Out of the top 10, AVAX and BNB did manage to test or break last week’s highs, but most failed to reach those levels before momentum swung hard back to the seller camp on Thursday. For now, Crypto looks to be locked into the risk response to the current crisis seen in Eastern Europe between Ukraine and Russia. As tensions increased, sellers hammered into crypto coins, knocking most of the week’s gains. Bitcoin and Ethereum lost just over 8% yesterday, and AVAX traded as much as 9% lower before closing off lows. At this stage, the crypto top 10 and 25 indexes sit just in the red after giving back just over 8% in gains. For us, the picture looks quite clear moving forward. Tensions in Europe, but we think markets should recover. If we see tensions continue or sadly if the situation escalates into all-out conflict, we would think that coins could see heavy seller pressure. Our focus is on Ethereum weekly chart this week as we look at this week’s fade, lining up with the current LH under bearish MAs. For now, supply looks firm from 3080 and if we see a lower close this week, that set up a new move back to the 2430 area that also lines up with previous support at the 86MA? We do think that for this to happen, there might need to be further fundamental influence to maintain the selling. The daily shows support at 2860, so if geopolitical tensions remain the same or ease, a hold at that area could set up a new move to retest this week’s highs and start putting pressure on the weekly bearish picture. The post Your Crypto Focus: 19th – 25th February appeared first on Eightcap.
After A Large Amplitude GBPUSD Seems To Be Stable, But Maybe It Will Start Rising Again?

After A Large Amplitude GBPUSD Seems To Be Stable, But Maybe It Will Start Rising Again?

8 eightcap 8 eightcap 17.02.2022 03:09
Today we’re looking at the GBPUSD as buyers continue to hold firm and now only face one level of resistance both they can get the new uptrend back on track. Fundamentally a few things remain on the radar. Russian/Ukrainian Situation, we’ve seen recently that fair ups are supporting the USD and any new escalations could drive the USD higher which would hurt the GBPUSD. T-note yields are another ongoing factor but yields have settled for now but new highs could once again hurt risk pairs including the GBPUSD. US inflation and UK inflation. US inflation and rate rises could be starting to be factored in unless we see a new spike. The minutes didn’t do much to drive the USD this week, while a new rise in UK inflation definitely supported the GBP yesterday giving the GBPUSD a nice boost in Wednesday’s session. With that in mind let’s look at some of the technicals we’re watching on the GBPUSD chart. For now, we see price stuck in consolidation with support and resistance currently holding price. Overall we can see two new uptrends in play, on the short and medium times. Price also sits above all three moving averages and the short term MAs are trading above the 86 MA. While support remains firm we will continue to look for buyers to push at a new continuation. The key to this is a break above the two resistance points. This could confirm a new breakout and start suggesting that the medium-term trend could continue. A break below support and a move back to the new Med-trend would be a small warning sign and further evidence would be required before thinking that the trend is going to continue. GBPUSD D1 Chart The post Forex News: GBPUSD setting up for a continuation? appeared first on Eightcap.