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Energy Performance of Buildings Directive: A step closer to the finish line The Energy Performance of Building Directive recast is moving a step closer to the finish line by reaching a provisional agreement. Renovation goals for residential and non-residential buildings and the gradual phasing out of fossil fuel heating are part of the changes. Banks are expected to have an essential role in financing the transition.   Introduction The European Union established a strategic agenda to tackle climate change and transform the EU economy into a climate-neutral, green and fair society. The European Climate Law enforced in 2021 marked a major commitment to the transition by making the EU’s greenhouse gas (GHG) emission reduction by at least 55% by 2030 a legal requirement. To reach this target, a set of proposals to revise and update the EU legislation was introduced through the “Fit for 55” package. The legislation proposed amendments in 12 different policy areas ranging from land use and forestry to aviation and maritime transport. One of the most contingent points is the review of the Energy Performance of Building Directive (EPBD), as it contains economic, social and financial characteristics. This piece provides an update on the legislative development of the EPBD following the publication of the provisional agreement by the European Commission.   Fit for 55 quick peak The Fit for 55 package serves as a framework to attain EU climate objectives such as ensuring a just transition, maintaining the Union's competitiveness and positioning the EU as a leader in the fight against climate change. It proposes legislation in the following 12 policy areas: EU emission trading system (ETS) Effort sharing regulation Land use and forestry (LULUCF) Alternative fuels infrastructure Carbon border adjustment mechanism Social climate fund RefuelEU aviation and FuelEU maritime CO2 emission standards for cars and vans Energy taxation Renewable energy Energy efficiency Energy performance of buildings (EPBD) Why the EPBD is a central piece of the EU climate transition European buildings account for 40% of the energy consumed and 36% of energy-related direct and indirect GHG emissions. Tackling these emissions is thus crucial to reach the Union’s emission reduction goal. Furthermore, the EU plan doesn’t only aim to reduce emissions but also intends to ensure that the transition toward a greener society is a just one. Social aspects and implications of the changes are, therefore, an important part of the discussions. This is fundamental to remember when discussing the EPBD recast for several reasons. Firstly, improving the energy efficiency of buildings can be extremely costly. However, this cost varies depending on the country, building type (apartment vs individual home) and current energy efficiency. The EU also notes major differences between countries’ building stock efficiency.   Significant differences in EPC distribution between countries The EU estimates that 75% of the Union building stock is energy inefficient

Base effects to deliver a further big inflation drop for December's numbers To just creep under the RBA’s upper target band, the month-on-month change needs to average 0.24%. So, roughly speaking, for every monthly increase of 0.2%, you can have just under one of 0.3%. Any more than this, then over twelve months, you are going to overshoot the RBA’s target. In the last six months, there have been only two occasions when CPI has risen less than 0.3%. That was July’s 0.25% increase and, more recently, the -0.33% decrease in October – driven by a one-off drop in gasoline prices and some volatility in holiday costs. The good news is that for at least one more month, base effects (the impact of last year’s price movements on the year-on-year comparison) mean that the inflation rate could decline further in the near term.   Last December, Australia’s CPI index experienced a huge spike of 1.5% MoM, briefly taking the inflation rate to 8.4% YoY. This was caused by an unlikely coincidence of factors which we don’t expect to be repeated. Firstly, cold weather and flooding wiped out many seasonal crops, pushing up food prices. As a result of the flooding, some coal mines were inoperative, which took some coal-fired electricity generation offline. Because too much natural gas had been exported, there was not enough to offset this loss with gas-fired plants. Energy prices spiked. All of this, coupled with a post-lockdown surge in demand for travel and hotels in the prime holiday season, resulted in a 27% MoM increase in holiday prices and an 11% increase in recreation prices overall.      Monthly CPI progression and base effects   Base effects give way to run-rates It doesn’t look as if the weather is as unseasonably cold or wet as it was last year, although there has been flooding in Queensland. Hopefully, last year's energy crisis will not be repeated this December. Recreation prices reflecting travel and hotel costs will likely move higher, as they do most Decembers, but pre-Covid, monthly recreation prices typically rose between 5-7% MoM, not the 11.0% MoM increase recorded last year. So, on the assumption that more normal increases occur this year, then we should see the CPI index increase by no more than 1% in December, and possibly much less, meaning that the rate of inflation will fall from 4.3% to 3.7% for a 1% outcome, to maybe as low as 3.3% on a 0.6% MoM outcome. And that really would put the RBA’s inflation target into play. But the good news may then be interrupted for a while because last year’s price spikes were followed by abnormally large unwinding. But with less of a surge in prices at the end of 2023, the unwinding in early 2024 is also likely to be commensurately less. While last year’s January print was -0.3%MoM, this year may be a more modest -0.1 to +0.1% outcome, and the February 2023 0.2% MoM outcome could be closer to 0.3-0.4. If so, then that would take the inflation rate back up by 0.3-0.6pp, returning to around 4% YoY.    After that, there are no particularly egregious base effects to worry about until May, when the 2023 0.4% MoM decrease could result in a further upward lurch, reversing whatever decline stems from the December comparison. What will determine where inflation ends up by the end of the year will be much more driven by the run-rate of monthly outcomes than base effects. As we noted before, right now, this is not looking convincingly low enough to bring inflation in on target, at least not by the end of 2024.   The macroeconomy is still looking pretty good For this to happen, it would be more encouraging if the macroeconomy were slowing. Certainly, the GDP figures have been coming down, but these don’t tell the whole story. Employment data remains fairly robust. Most months, the increase in the labour force is greater than the rise in unemployment, which is keeping a lid on the unemployment rate, which at 3.9% is still fairly low. Retail sales have dropped back to about 2%YoY but look pretty stable and are certainly not screaming recession or household distress. And with house prices still rising, the single largest source of household wealth is looking strong     Market pricing just looks wrong In terms of market pricing, futures markets are pricing in a 50% chance of a cut in May, and by August, the first hike is fully priced in, with a further 25bp cut fully priced in by December. This looks totally wrong to us. For one thing, and unlike the Fed, the RBA has been quite tentative about its increase in the cash rate. At 4.35%, the cash rate is probably a bit restrictive, but not much. The real rate (ex-actual inflation) is about zero. A properly restrictive rate would be higher. On the same basis, the Fed’s real policy rate is more than +200bp. Consequently, even the arguments for some finessing of the policy rate to a more neutral setting aren’t terribly convincing. At least not until and unless inflation drops much more than it will have likely done by May. The possibility for a May cut doesn’t even coincide with the very narrow window of low inflation that will appear when the December inflation data are released at the very end of January and just ahead of the RBA’s February meeting.   Market pricing Implied cash rates   It's easier to make a case for hikes In contrast, we have only one rate cut pencilled in for 4Q24, and even that feels a bit speculative currently, as there is a good chance that inflation won’t have reached the RBA’s target by then. That's especially true should the current tensions in the Red Sea spill over into higher prices of energy and, indeed, all goods that are normally routed through this stretch of water. It is probably easier to make a case for further RBA rate hikes because if monthly inflation averages 0.3% over the second half of the year, not the 0.2% we have optimistically assumed, then inflation will still be around 4% by the end of 2024.

An increase in dovish expectations on a rapid pace of Fed funds rate cuts projected for 2024 indicates a potential impending recession. An uptick in recession risk may see a further deterioration in the US 10-year Treasury real yield which reduces the opportunity costs for holding Spot Gold (XAU/USD). Spot Gold (XAU/USD) has managed to trade back above its 20-day moving average. This is a follow-up analysis of our prior report, “Gold Technical: Extension of corrective decline ahead of FOMC” published on 11 December 2023. Click here for a recap. The price actions of Spot Gold (XAU/USD) have shaped the extended corrective decline to print an intraday low of US$1,973 on 13 December during the European session ahead of the FOMC meeting announcement on the same day which was just a whisker away from the US$1,955 support highlighted in our previous analysis. All in all, it has shed -8.2% from its current all-time high of US$2,149 printed on 4 December 2023 which represents a retracement of close to 50% of its ongoing medium-term uptrend phase in place since the 6 October 2023 low of US$1,810. The US Federal Reserve unleashed its dovish pivot last Wednesday, 13 December where its latest “dot plot” projection for the trajectory of the Fed funds rate has indicated a total of three rate cuts (75 basis points) pencilled in for 2024, upped from two projected rate cuts in the prior September’s dot plot which in turn led to an increased in dovish expectations of market participants to price in six rate cuts, a total of 150 bps in 2024 via the 30-day Fed funds rate futures calculated by the CME FedWatch tool. This kind of dovish expectation that has skewed towards a rapid pace of the Fed funds rate cuts projection in the upcoming monetary easing cycle seems to indicate an impending recessionary scenario in 2024 that may put further downside pressure on the US 10-year Treasury real yield. US 10-year Treasury real yield broke below the 200-day moving average   Fig 1: US 10-year Treasury real yield medium-term trend as of 18 Dec 2023 (Source: TradingView, click to enlarge chart) The price movement of the US 10-year Treasury real yield has broken down below a major support zone of 1.82%/1.73% (also the 200-day moving average) which room for further downside potential with the next intermediate support coming in at 1.38%. Based on intermarket analysis, a further deterioration in the US 10-year Treasury real yield may support another round of potential impulsive upmove sequence in gold prices due to lower opportunity costs as gold does not produce “fixed coupons income streams” like bonds.  

The Commodities Feed: Oil demand risks linger Weak Chinese oil import data has added fresh con cerns for the oil market. The EIA report also failed to provide support as a significant rise in the refined product inventories clouded the expectations for a seasonal demand pickup. Energy – China's crude oil imports drop The weakness in the oil market persists, with ICE Brent settling down by around 4% yesterday to below US$75/bbl; ICE Brent has dropped by nearly 10% since the OPEC+ meeting. Weaker demand data from China has further weighed on the sentiment in the short term. The latest trade data from China shows that crude oil imports in the country dropped 9.2% YoY (first annual decline since April) to 42.4mt (10.3MMbbls/d) in November on slowing demand from refineries, weak economic indicators, and higher inventories. Comparatively, China imported around 49mt of crude oil in October 2023, showing a big fall in demand for the fuel. Cumulatively, China’s crude imports have increased by 12% YoY to 515.6mt for the first eleven months of the year, although most of it could be attributed to high imports in the 2nd and 3rd quarters of the year. The EIA’s weekly US inventory report was fairly mixed yesterday. US commercial crude oil inventories fell by 4.6MMbbls over the last week as the refineries increase their capacity usage during fall maintenance. Earlier, API reported an inventory withdrawal of 0.6MMbbls while the market expected withdrawals of around 0.8MMbbls. Total crude oil inventories (excluding SPR) now stand at 445Mbbls and are about 1% below the five-year average. Meanwhile, oil inventories at Cushing, Oklahoma fell by 1.83MMbbls to 29.6MMbbls. The EIA said that the US crude oil production fell by 0.1Mbbls/d to 13.1MMbbls/d last week. As for refined product inventories, gasoline inventories rose by 5.4MMbbls, against a forecast for a buildup of 1.2MMbbls. Distillate stockpiles increased by 1.3Mbbls last week, higher than the expectations for a buildup of 1.1MMbbls. Meanwhile, refineries operated at 90.5% of their capacity, up 0.7% from the previous week, but 5% lower than the same period last year.  

Consumers put brake on Turkish growth figures A decline in private consumption is weighing on Turkey's latest growth numbers. But at 5.9%, third quarter GDP figures were better than the market expected. That deceleration, along with tighter financial conditions, sluggish exports and weaker global activity, point to a further loss of momentum in the coming months.   Third quarter GDP in Turkey came in at 5.9% Year-on-Year, better than most were expecting. That's down to strong private consumption despite a decline compared with previous quarters, robust investments and accelerating government consumption. Net exports once again turned out to be a drag.  3Q GDP translates into a Quarter-on-Quarter growth rate at 0.3% after seasonal adjustments, showing momentum loss in comparison to a relatively strong reading in 2Q at 3.3%. Easing sequential performance is down to household consumption turning negative for the first time since the last quarter of 2020 and a negative contribution from stocks despite a solid investment appetite and the supportive impact of net exports.   Quarterly Growth %, YoY   When we look at the breakdown of expenditures, private consumption has lost steam with an 11.2% YoY growth, the lowest in the last two years and pulled the headline GDP up by 7.7ppt. The data reflects the start of a normalisation in household consumption with gradual tightening in the policy mix since the May elections, but it remained the main driver of growth in 3Q. An analysis of gross fixed capital formation reveals that investor appetite strengthened with 14.7% YoY growth, translating into 3.4ppt contribution to the GDP expansion. This is mainly because of a continued rise in machinery equipment (23.7% YoY in 3Q) for the last 16 consecutive quarters. We also see further recovery in construction investments (7.9% YoY), supporting the 3Q investment growth.   Other notable comments: Public consumption that has continuously positively contributed to the headline GDP since early 2021 remained strong with a 5.3% YoY increase, lifting 3Q growth up by 0.7ppt. This was reflected in the continuing expansion in primary expenditures this year so fa Inventory build-up shaved 3.2ppt off growth Net exports continued to pull the headline growth down by -2.6ppt. This is attributable to accelerating imports vs barely positive export growth. The only sector which dragged down the annual growth rate was administrative and support services while the other sectors positively affected the GDP performance. Among these, services and industry turned out to be the biggest contributors.   Drivers of the growth Ppt contribution Overall, 3Q GDP data show a moderation in private consumption though remaining the major driver and a visible decline in the momentum of growth. Accordingly, despite the February earthquake, GDP growth in the first nine months turned out to be 4.7%, driven by domestic demand, while signals of a slowdown in the growth trend are increasingly more evident. We expect GDP growth this year to be 4.2% and a slowdown to 2.5% for the next year given the full impact of the rate hikes. The risks are, however, on the upside given the latest Medium Term Plan (MTP) forecast of the government at 4.0% and continuing supportive fiscal stance in addition to potential recovery in foreign capital inflows.

Agriculture – India sugar production to fall 8% YoY in 2023/24 The first advance estimates from the Indian Sugar Mills Association (ISMA) show that gross sugar production (including sugar diverted for ethanol production) in India could fall to around 33.7mt in 2023/24 compared to around 36.6mt in 2022/23 as adverse weather was seen impacting yields. The total acreage under sugarcane is expected to be around 5.7m hectares in 2023/24. Sugar allocation for ethanol production was around 4.1mt for last season and a similar allocation this year would keep net sugar production at around 29.6mt. While net sugar production is sufficient to meet the domestic demand of around 27.9mt, sugar exports from the country could fall significantly in the current season. Ukraine’s Agriculture Ministry reported that the Ukrainian winter grains plantations rose to 4.2m hectares as of 31 October, in line with last year’s plantation. This includes winter wheat crop plantings rising by 6% YoY to 3.7m hectares for the above-mentioned period. Weekly data from the European Commission shows that soft wheat exports for the season so far fell 24% YoY to 9.6mt as of 27 October, down from 12.6mt reported in a similar period a year ago. The major destinations for these shipments were Morocco, Nigeria, and Algeria. Meanwhile, the nation's corn imports fell 41% YoY to 5.6mt in the season so far.

Ailleron Above-average margins, prospects for double-digit earnings growth Financial outlook. After a very good second quarter in which we were surprised by the level of Software Mind's margins despite global sector weakness, we are raising our operating profit forecasts by 12% this year and 7% next year. 2024 will be the first year without the burden of project costs for Pekao in Fintech and development costs for LiveBank, which is already a product so innovative that no further investment expenditure is required, only a greater focus on sales. The full impact of the valorisation of customer tariffs, which was not fully implemented in all contracts at the beginning of the year, will then be visible in the results. We forecast net profit for the parent company's shareholders to rise to PLN 25m in 2024 and PLN 31m in 2025, implying a P/E of 7-8x, which we consider very attractive for a growth company in this sector.

Weekly jobless claims set to tee up tomorrow's US payrolls report By Michael Hewson (Chief Market Analyst at CMC Markets UK)   European markets stabilised somewhat yesterday, although the FTSE100 slid for the third day in succession due to a sharp slide in commodity prices, which weighed on the big caps of basic resources and energy. There was a respite in the big surge we've seen in bond yields, which retreated from intraday and multiyear highs after the September ADP jobs report saw its weakest monthly job gain since January 2021, of 89k. This stabilisation in yields helped temper the downside for US markets, with the S&P500 rebounding from its 200-day SMA, which has acted as a key support area in the past couple of trading days. The retreat in yields also helped US markets rebound and close higher on the day, breaking a 3-day losing streak, with the biggest decline coming with a 10-point fall in the 2-year yield.     This rebound in US markets has translated into a rebound in Asia markets and looks set to translate into a positive start for European markets this morning as we look ahead to the latest German trade import and export data for August, as well as French industrial and manufacturing production data, all of which are forecast to show weak economic performance for both. German exports are forecast to decline by -0.6%, with imports expected to rise by 0.5%, while in France manufacturing output is expected to decline by 0.4%.     The US dollar fell victim to some modest profit taking, slipping back from 10-month highs as yields declined across the board. The US labour market is set to remain in the spotlight today, as well as tomorrow when we get the September non-farm payrolls report, which after yesterday's slowdown in the ADP numbers, could set the seal on another rate hike in November, or keep markets guessing ahead of next week's CPI report.     Before that, later today we get the latest weekly jobless claims numbers which are expected to show that claims increased slightly from 204k to 210k. Continuing claims are forecast to remain steady at 1.67m.       EUR/USD – the next support remains at the 1.0400 level which is 50% pullback of the 0.9535/1.1275 up move, followed by 1.0200. To stabilise we need to move through 1.0620 for a retest of the 1.0740 area.       GBP/USD – strong rebound yesterday from the 1.2030/40 area with support below that at the 1.1835 area which equates to a 50% retracement of the move from the record lows at 1.0330 to the recent peaks at 1.3145. We need to overcome the 1.2300 area to signal a move back the 1.2430 area and 200-day SMA.        EUR/GBP – still range bound with resistance at the 0.8700 area and resistance at the 200-day SMA at 0.8720, which is capping the upside. A break of 0.8720 targets the 0.8800 area, however while below the bias remains for a move back to the 0.8620 area.     USD/JPY – made a 12-month high of 150.16 earlier this week before plunging to 147.35 on the back of possible intervention from the Bank of Japan. With no confirmation that intervention took place, any further moves higher could be choppy. Below 147.30 signals the top is in.     FTSE100 is expected to open 32 points higher at 7,444     DAX is expected to open 62 points higher at 15,162     CAC40 is expected to open 30 points higher at 7,026  

Rates Spark: My home is my castle After the Belgian success story of its one-year retail issue, Italy yesterday announced the launch of its second 'BTP Valore' retail bond for early October. The large volumes involved have knock-on effects on other marketable debt issuance and are a supporting factor for government bond spreads, especially now that the ECB QT debate could pick up.   A stable funding source for governments: households Belgium has grabbed the headlines in recent days with a €22bn one-year retail issue. Beyond the implications for bank deposits, against which it was advertised as direct competition, the success of the sale also had implications for the country’s government bond and bills markets. The net funding via the bills market was reduced from a contribution of €2.8bn to a planned decline in the bills stock of €4.4bn. Long-term bond issuance (OLOs) was trimmed by €2.9bn to €42.1bn for the year.    Yesterday, Italy announced the launch of its second 'BTP Valore', a five-year instrument targeting retail savers. The first instalment launched in June attracted a total volume of €18bn. Such large sizes attract the attention of markets not just for their knock-on effects on issuance plans, but also as it sets the country on a more diversified and stable funding mix. Historically, Italy has had a larger footprint in the domestic market, but it has specifically tapped into the retail segment to a greater degree with dedicated Futura and Valore issues on top of the BTP Italia. At the end of August, these three types of retail government bonds accounted for €122bn or 5.1% of Italy’s central government debt instruments. Prior to the pandemic, the level stood at €78bn or 3.9% at the end of 2019. But since late 2022, households have started to dip more into government debt, raising their investments from €123bn to €185bn over two quarters through the first quarter of 2023. Italian households dipped into government debt again

Better times may come soon Recommendation: Outperform. Dec’24 TP: PLN25.0 With this report we are initiating issuing recommendations for Newag with the Outperform rating and the Dec’24 target price set at PLN25.0. Our baseline scenario assumes that the company / rolling stock manufacturing industry is already bottoming out the local downturn in 2022. In the coming years, we expect a gradual evolution of the Newag's revenue mix towards a greater share of sales of new products with a relatively stable (in nominal terms) contribution of revenues allocated to the rolling stock modernization and repair segment. We see significant space for the recovery in operational margins thanks to more favourable trends of the materials and energy prices, which combined represent the bulk of costs. Finally, we emphasize that the company is a regular dividend and that its valuation ratios are not demanding (2023P P/E 10.7x and EV/2023P EBITDA 6.8x).  

05:40BST Thursday 17th August 2023 Hawkish Fed minutes sends US markets to one-month lows  By Michael Hewson (Chief Market Analyst at CMC Markets UK)     While European markets have struggled for direction this week with a slight downward bias, the FTSE100 is on course for its worst weekly decline in over a month.  US markets came under further pressure in the wake of the release of the latest Fed minutes sliding to one-month lows with the Nasdaq 100 leading the move lower, as both the S&P500 and Nasdaq fell further below their 50-day SMA's. The post minutes slide, and the prospect that rates could stay higher for longer looks set to translate into another weak open for Europe, with Asia markets also feeling the pressure over concerns about the prospects for the Chinese economy. The minutes came across as reasonably hawkish, not altogether surprising given recent commentary from various Fed officials, however there was some surprise that only two members appeared to support keeping rates unchanged.     There was a broader consensus or concern that most participants continued to see significant upside risks to inflation, despite headline inflation having fallen to 3%, and that further rate rises might be needed. Despite recent hawkish rhetoric from various Fed officials' markets had got comfortable with the idea that the July rate hike was probably going to the last one. Last night's minutes called that assumption into question even as various Fed officials mulled that the risks around monetary policy was becoming two-sided, with some unease about how much further the central bank can go when it comes to further rate rises.     With an expectation that more rate hikes might be coming, US 10-year yields pushed to their highest levels since last October, while the US dollar pushed up to its highest levels in 6 weeks. Last night's minutes also serve to shift the market focus on to Jackson Hole next week and whether Fed chair Jay Powell will give any sort of steer on which way the Fed might lean next month. It wasn't just US yields that pushed higher yesterday, UK yields also pushed back to their highs of the month, after core CPI for July came in unchanged at 6.9%. It's set to be a quiet day data wise with the latest set of weekly jobless claims set to see a modest fall to 240k from last week's big jump to 248k. Continuing claims, on the other hand fell back towards their lowest levels this year at 1,684k, and could see a move back above 1,700k.     EUR/USD – slipping towards the main support area at the 1.0830 area. Still feels range bound with resistance at the 1.1030 area.     GBP/USD – remains well supported above the recent lows at the 1.2600 area. A break below 1.2600 targets 1.2400. Until then the bias is for a move back above the 1.2800 area through 1.2830 to target 1.3000.         EUR/GBP – slipping further way from the 100-day SMA towards the 0.8530 area. Above the 100-day SMA targets the 0.8720 area.     USD/JPY – continues to edge higher, with support now at the 144.80 area. The move above the previous peaks at 145.10, opens the prospect of further gains towards 147.50.     FTSE100 is expected to open 37 points lower at 7,320     DAX is expected to open 95 points lower at 15,694     CAC40 is expected to open 40 points lower at 7,220

Optimising Floating Exposure: Efficient Frontier Analysis for US SOFR Borrowers tend to have both fixed and floating rate debt. Floating rate debt averages at a lower cost over time. But its more volatile than fixed rate debt (including mark-to-market). Fixed rate debt is more certain. But adding floating rate debt to the mix gets to a better risk/return outcome, and a lower cost. But how much floating is optimal?   Calculating Optimal Floating Rate Exposure Cutting to the chase, we find that 17.5% floating exposure acts to minimise interest rate volatility when compared with a reference of 10yr Fixed. Interest rate costs are also reduced, from 4.5% to 4.2%. This should be viewed as a minimum floating exposure (we explain in the section below how we come to this). Adding more floating exposure helps bring down rate costs. The cost in terms of higher volatility is not dramatic once it does not stray too far from the bottom of the hook on the efficient frontier. Having 32.5% floating exposure in fact results in the same volatility as being 100% Fixed. And it reduces interest rate costs by a further 25bp, to 3.95%. Tolerance for slightly more volatility can reduce rate costs further. We can find the tipping point on the efficient frontier before the trade-off between increased volatility and lower rate cost begins to really slip. At 45% floating, volatility is tolerably low (just before the tipping point), and interest rate costs are cut further to 3.75%. One important point to make is this analysis is based off not timing the market. It contrasts rolling 10yr exposures with rolling 3mth ones. Clearly a 10yr lock-in has zero volatility for that trade alone, but it still has volatility in terms of mark-to-market.   Efficient Frontier Analysis In the past 35 years, the average interest cost when 100% fixed has been 4.5%, while the average cost when 100% floating has been 2.9%. The respective standard deviations are 2.3% and 2.6%. Lower volatility fixed rate exposure comes at a higher rate cost. Volatility should a priori be higher for floating rate exposures. And the data confirm that interest rate costs have tended to be lower for rolling floating rate exposure, by some 1.6% on average, reflecting the tendency for the term structure to be upward sloping. The question is how to determine an optimal ratio of floating to fixed rate debt. We map out an efficient frontier between interest rate cost and volatility, based off SOFR rates stretching from the 3mth to the 10yr tenors (spliced to Libor adjusted rates).   Efficient Frontier - Minimum Volatility       The derived efficient frontier confirms that 100% fixed rate exposure is sub-optimal. By moving down the efficient frontier away from 100% fixed, we find that volatility can be reduced by adding some floating rate exposure. We find that volatility is minimised with about 17.5% of floating rate exposure (above chart). At this point, the average interest rate cost is 4.2%, some 30bp lower than the 4.5% achieved when 100% Fixed. Average rate costs can be reduced further by adding more floating rate exposure, but at the cost of higher volatility. But the question is how far to push floating rate exposure, while remaining within a tolerant band of volatility. Below is one possibility (below chart).   Efficient Frontier – Match volatility of 100% Fixed   At 100% Fixed, certainty is maximised. At 82.5% fixed, volatility is minimised (first chart). Moving further along the efficient frontier from left to right we can hit a point where volatility is the same as at 100% Fixed, but at lower interest rate cost (second chart). Here, a tolerable increase in uncertainty is introduced, as volatility is still quite low (as low as it would be if 100% Fixed). Floating rate exposure increases to 32.5%, and the average interest rate cost falls to just under 3.95%, compared with 4.5% if 100% Fixed. We could make a further push to the right along the efficient frontier by finding the point where the trade-off between volatility and interest rate cost hits a tipping point. We illustrate this below (below chart). At 45% Floating, the average interest cost is cut to around 3.75%, and the rate cost versus volatility ratio is not too far from the bottom of the hook on the efficient frontier.   Efficient Frontier – At turn of volatility vs interest rate cost trade-off   The following table has a summary of the exercise (below chart). As a technical note, the standard deviation as a proportion of the average interest rate cost rises as average interest rates fall (right-hand column). Not an issue as it is driven by lower rate costs.   Efficient Frontier Summary (based off data back to 1988)   Alternative Analysis (back to 2008) Some might object to using data through a relativity high rates regime (1980s and 1990s) and then a low rates regime (post GFC and pandemic). But we’d argue that this is the best way to do an unbiased long-run analysis. That said, if interested in how things would look if we took the last 15 years, it’s done below. Observations show the average 10yr SOFR rate is 2.3% since 2008, and the average 3mth SOFR rate is 0.9%. Rates volatility is lower but much higher in the 3mth rate when calculated as standard deviation as proportion of mean. Volatility is minimised with 10% floating, and up to 37.5% floating is doable before the 'tipping point'.   Efficient Frontier – Based off data back to 2008   Efficient Frontier Summary (based off data back to 2008)   Bottom line, floating rate exposure should be no less than 17.5% to achieve lowest volatility. At 32.5% floating, volatility is in fact equal to that of being 100% Fixed. Stretching to 45% floating is volatility tolerable, sitting at the vol tipping point. This full sequence moves from a rate cost of 4.5% to 3.75% (vs 2.9% floating) on data back to 1988. This all assumes not timing the market, and setting rolling 3mth versus 10yr exposures over time.    

Retail Sales and PPI - what could they mean for Fed before the rate decision? Nour Hammoury (SquaredFinancial): PPI data is another confirmation that inflation remains on the right track. Despite all the fears last month that inflation might have started a new wave to the upside, PPI confirmed the opposite as it declined to the lowest level since 2021. At the same time, Retail Sales without a doubt increased the estimates that GDP is likely to be weaker, leading major institutions to cut the US GDP estimates.   At the same time, Retail Sales without a doubt increased the estimates that GDP is likely to be weaker, leading major institutions to cut the US GDP estimates.     Nour Hammoury (SquaredFinancial): This is also another confirmation that growth for Q1 is nowhere near 2%, which is another factor why the Fed might need to pause in the coming meetings.

Silver takes offers to renew intraday low as US Dollar licks its wound ahead of the key data. Sluggish markets, China-inspired optimism put a floor under XAG/USD prices. Firmer prints of US Q4 GDP could renew hawkish Fed bets and extend latest pullback. Silver price (XAG/USD) renews intraday low near $23.75 as it adds to the weekly gains ahead of Thursday’s European session. In doing so, the bright metal drops for the first time in three days as traders stay cautious ahead of the key US data comprising the first readings of the US fourth quarter (Q4) Gross Domestic Product (GDP). It should be noted that the latest Reuters poll challenging the market optimism toward growth conditions seems to weigh on the XAG/USD price. “Global economic growth is forecast to barely clear 2% this year, according to a Reuters poll of economists who said the greater risk was a further downgrade to their view, at odds with widespread optimism in markets since the start of the year. Additionally, the downbeat performance of US equities in the last few days and anxiety ahead of the top-tier data, as well as hopes of more rate hikes, also challenge the sentiment and please the Silver buyers. Alternatively, the softer US Treasury yields and downbeat expectations from the scheduled US data keep the US Dollar on bear’s radar, which in turn put a floor under the Silver prices. It’s worth mentioning that the receding market bets on the Fed’s hawkish move and chatters surrounding the policy pivot also seem to favor the XAG/USD buyers. On the same line could be optimism in Hong Kong as the nation’s equity benchmark Hang Seng leads the Asia-Pacific gainers with above 2.0% gains by the press time even if markets in Australia, India and China are closed. The reason for the upbeat sentiment could be linked to the market chatters suggesting strong holiday spending in China, the world’s biggest commodity user. Looking forward, the US Q4 GDP is expected to ease and personal spending might also recede during the Q4, which in turn allows the Fed policymakers to go soft on their rate hike trajectory. The same could direct market players away from the US Dollar and may underpin the XAG/USD upside. Technical analysis Silver price takes a U-turn from the downward-sloping resistance line from January 16, close to $24.00 by the press time, as it drops back towards the 50-DMA support of $23.15.    

The current account deficit was €0.4bn in November, below consensus and our forecast (€1.0bn), after €0.6bn in October. On a 12-month basis, we estimate that the balance improved to about -3.4% of GDP after -3.7% in October     The goods trade deficit was €1.5bn after €2.3bn in October. On a cumulative basis, there was a slight improvement to around -3.8% of GDP from -3.9% a month earlier. Elsewhere, there was a traditionally high positive services balance of €2.9bn, a fairly deep deficit in primary income of €1.8bn and a slightly negative secondary income balance of €0.1bn. Foreign trade turnover continues to grow close to 20% year-on-year (in euros), noticeably slower than in the previous months of 2022 due to more subdued growth in prices. Exports dynamics (20.3% YoY) outpaced imports (17.7% YoY) for the first time since April 2021. Polish companies benefit from the weak zloty. They are also catching up on deliveries due to easing tensions in global supply chains, particularly in the automotive industry. Better-than-expected eurozone industrial production and German GDP data suggest decent foreign demand for goods and services from Poland. The National Bank of Poland states that in November the increase in the value of exports was due to an improvement in price relations (the growth in prices of industrial products accelerated while the growth in prices of raw materials and semi-finished products weakened). Automotive industry exports grew strongly due to the recovery in this sector in Europe. The volume of food and fuel exports also increased. Weaker growth in fuel inflow (although coal shipments were at a record high, but oil shipments were lower than before), a deepening decline in imports of supply goods, and falling consumer imports all helped to curb the high overall imports dynamic. This is due to the weakening of domestic demand in Poland. Today's data is neutral for the zloty, and the current account deficit was below the consensus. Since the beginning of November 2022, €/PLN has remained stable with the trend of a weakening US$ against the euro. For the whole of 2022, we expect a 3.1% of GDP current account deficit, following a 1.5% of GDP deficit in 2021 (after data revisions). By contrast, we forecast a decline in the deficit to around 2.5% of GDP in 2023. Polish exports tend to be resilient to economic slowdowns, while imports are more sensitive to downturns. Terms of trade are likely to stabilise, although spending on energy imports will remain elevated. In addition, import growth will be supported by high spending on military equipment. Read this article on THINK TagsPoland current account Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more

Pressure returned on markets due to negative sentiment that followed the Fed's decision on interest rates. Most likely, players wanted to lock in gains on assets at more interesting prices, so even though the rate hike and latest economic statistics in the US were not surprising, they did their best to trigger a collapse, using recession fears as an excuse. Of course, it could also be because the Fed said they expected a slightly higher average interest rate level, but that was not new, as is the economic data that was lower than expected. Nevertheless, it is unlikely that yesterday's decline is a sign of a global reversal as an important leading indicator, which is US treasuries, did not show a strong increase. Stock markets are also beginning to grow since today's European session, and this may continue until the US trading session. It seems that the gold market is climbing as well, while dollar is declining smoothly. There will probably a rally today and for the remaining two weeks until the end of the year, which will not only recover yesterday's losses, but will also lead to a noticeable increase in risk appetite, accompanied by a weaker dollar. Forecasts for today: EUR/USD The pair halted at 1.0655, but stabilization in markets and increased drisk appetite could push it towards 1.0785. USD/CAD The pair is trading within the range of 1.3525-1.3700. If market sentiment improves, it could stay at 1.3525.   Relevance up to 08:00 2022-12-19 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/330015

Summary: GBP September 2022 YoY inflation, beat market expectations. Affect on the GBP. GBP CPI Inflation The market has predicted a CPI YoY inflation figure of 10%, the actual data came in at 10.1%, which was hotter than expected by the market. The inflation reading is likely to set off expectations on the future interest rate hiking path of the Bank of England (BoE). The higher than expected inflation reading is likely to set investor confidence in the direction of a continuing hawkish BoE interest rate hiking cycle, causing investor confidence in the GBP to increase and therefore strengthening the pound sterling currency. Following some fresh concern in the UK bond markets on Tuesday, the British Pound's impressive run came to an abrupt end. Following the Bank of England's forced denial that it would further delay its program of quantitative tightening, UK gilts declined and the yield they offered increased.  This is the procedure through which it sells the gilts it acquired as part of its quantitative easing strategy back to the market. A crucial element of the Bank's strategy for normalizing monetary policy as it battles inflation is quantitative tightening. After the recent instability in the bond market, The Financial Times reported on Tuesday that the Bank was prepared to postpone the program. Effect of the CPI reading on the GBP It is no secret that the pound sterling has had a tough year on the forex markets. The near-term outlook for the pound has significantly improved, according to foreign exchange strategists at BMO Capital, and more gains are possible if the UK leadership is changed in the next two weeks. The Kwarteng catastrophic "mini-budget" in September, which offered the largest tax cuts in 50 years at a time when the U.K. economy is already experiencing significant inflation, is blamed by the government for the turmoil the pound sterling is currently experiencing. The Bank of England had to step in to prevent the collapse of a significant portion of the U.K. pension system after Kwarteng's actions drove the pound to an all-time low against the dollar and set off a sell-off in government bonds. The initial market reaction showed a weakening in the GBP/USD currency pair, and a strengthening in the EUR/GBP currency pair as investors weigh GBP prospects. Sources: poundsterlinglive.com, investing.com

On Wednesday the Fed is due to make their interest rate decision. A US portfolio that is split 60/40 between stocks and bonds is headed for its worst year since 1937. ECB is determined to deliver price stability through rising interest rates.   In this article: The Fed’s Interest rate hike tomorrow. US Stock/Bond portfolio down. The ECB is determined to fight inflation through rising interest rates. The Fed due to make their interest rate decision on Wednesday The SwissQuote tweeted about the expectations the market has ahead of the Fed’s interest rate hike decision on Wednesday. Fed will likely hike by 75bp ; SNB will likely follow! ▶️ Discover today's market highlights on our #MarketTalk with @IpekOzkardeskay: https://t.co/Lzfate1wod pic.twitter.com/ZnOfnyHVvM — Swissquote (in English) (@Swissquote) September 20, 2022 On Wednesday the Fed is due to make their interest rate decision, this interest rate decision came in the wake of the US CPI inflation results which were released during last weeks trading week. US Stock/Bond portfolio is suffering According to Charlie Bilello a US Stock/Bond portfolio is likely to experience its worse financial performance in 86 years. A 60/40 Portfolio of US Stocks/Bonds is down 16.2% in 2022, on pace for its worst calendar year since 1937. pic.twitter.com/d6gnbohRLw — Charlie Bilello (@charliebilello) September 20, 2022   A US portfolio that is split 60/40 between stocks and bonds is headed for its worst year since 1937. European central bank (ecb) determined to fight inflation The president of the ECB Christine Lagarde makes it clear that the ECB is determined to fight inflation through rising interest rates. We are determined to deliver price stability, and expect to raise interest rates further to achieve 2% inflation, says President @Lagarde. We must settle at a rate that ensures inflation returns durably to our target, as the economic environment evolves https://t.co/d5HvwVEiR0 pic.twitter.com/mCXxS1yk1f — European Central Bank (@ecb) September 20, 2022   The ECB is determined to deliver price stability through rising interest rates. The ECB is willing to settle the rate of inflation at its target.    Sources: twitter.com

Gold managed to hold critical support above $1,700 despite the US dollar's update of its 20-year high, which means sentiment has improved. Although gold may rise this week, analysts warn that investors should not expect a significant breakout as the Federal Reserve continues to aggressively raise interest rates. There is currently an 88% chance that the US central bank will raise the federal funds rate by another 75 basis points on September 21st. Bannockburn Global Forex managing director Mark Chandler said he sees any rally in gold as a short-term correction of the current downward trend. Last week, 16 market professionals took part in a Wall Street survey. Nine analysts, or 56%, said they are optimistic about gold this week. Two analysts, or 13%, said they were bearish. Five analysts, or 31%, said they were neutral about the precious metal. In the retail sector, 495 respondents took part in online surveys. A total of 255 voters, or 52%, called for gold to rise. Another 153, or 31%, predicted a fall in gold. While the remaining 87 voters, or 18%, were in favor of a side market. Optimism among Main Street investors has improved sharply after bearish sentiment hit a multi-year low last week. The resumption of near-term confidence is due to the fact that gold prices are still trading relatively unchanged, breaking a three-week losing streak. Chris Vecchio, senior market analyst at DailyFX.com, said that despite challenging conditions for gold, market bulls can be confident that the precious metal has managed to create solid support around $1,700. Many analysts say they are bullish on gold as the US dollar appears to be unable to sustain gains above its recent 20-year high. Equiti Capital market strategist David Madden said that while gold appears to be stuck in a neutral position above $1,700 an ounce, it has shown some resilience, which could help draw some attention.     Relevance up to 10:00 2022-09-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321410

After breaking through the key support level at $20.8k, the price of Bitcoin is consolidating around $20k. Over the past weekend, uncertain Doji candles formed on the cryptocurrency daily chart, which clearly underlines the low trading volumes. The price of Bitcoin has been in the consolidation phase for more than two weeks, and a certain category of investors is successfully collecting liquidity from different price ranges. We can say that the BTC/USD quotes have found a strong bottom near the $19.5k mark. Therefore, the exit from the consolidation range should occur in an upward direction. In addition to confidently defending an important price level, fundamentally positive news has appeared on the market, which can become a catalyst for the growth of Bitcoin. The US unemployment rate rose to 3.7% against the forecast of 3.5%. The labor market is one of the main factors confirming the recession of the American economy. Consequently, the Fed may revise monetary policy or make local easing to stabilize the situation on the labor market. In addition, mining difficulty increased by 10% in August, which indirectly confirms that the energy crisis has been overcome. Santiment also confirms the persistence of buying sentiment in the market. The number of wallets with a balance of 100–10,000 BTC continues to grow. Given this, it is likely that Bitcoin is expecting a local upward spurt. However, the technical metrics on the daily chart continue to point to a lack of buying interest. The stochastic oscillator has been in the oversold zone since August 18, which indicates the absence of bullish impulses and buying volumes. As of September 5, the metric has formed another bearish crossover. The RSI metric is also moving in a downward direction. Given the deplorable state of technical metrics, the question arises: why is the price not falling, but consolidating? The main problem lies in the trading activity of buyers. The indicator is at the very bottom, which does not allow the price to reach local highs. At the same time, sales volumes are also at a low level, which is why the bears are not able to break through key support areas without the influence of fundamental factors. In other words, at the current stage of the market any significant price movement of Bitcoin is tied to external factors. It is also important to consider the Monday factor, when the main markets are just warming up before the start of the trading week. Given this, we can expect an attempt by Bitcoin to climb above $20k by the end of today's trading day. However, there are problems here as well. The bitcoin headache of miner capitulation continues. The industry has adapted to new realities and energy prices, but low market liquidity is forcing them to sell off their stocks. Miners have sold over 3,000 BTC over the past week, which will negatively impact Bitcoin's short-term bullish targets. In addition, there are warns that the market is pricing in a 70% chance of a 70 bps interest rate hike in September. There are plenty of restraining factors for the growth of Bitcoin, therefore it is not worth hoping for a successful implementation of the bullish impulse. However, the situation may change next week. On September 13, statistics on inflation will be published, and the continuation of the downward trend of the CPI may be a signal for the activation of buyers. Until then, Bitcoin has no significant prerequisites for growth. Most likely, buyers will continue to actively absorb the volumes of BTC that miners and short-term investors send to the market. Among the likely targets that BTC/USD could reach as part of the upward movement this week is the $20.8k level. However, for this, the price needs to consolidate above $20k in the next day or two. This idea will become irrelevant if the $19.5k level is successfully broken.       Relevance up to 10:00 2022-09-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320799

Details of the economic calendar for August 31 Eurozone inflation hit a new record high of 9.1% in August. Eurostat reports that the main growth driver is high energy prices. The high level of inflation may again push the European Central Bank to further interest rate hikes. It is worth noting that for the past two days, most speakers from the ECB have been actively advocating the possibility of raising the ECB rate by 0.75% in September. In turn, German Chancellor Olaf Scholz says that citizens will feel a significant increase in electricity prices in September. In simple terms, inflation in the EU will continue to grow. During the American trading session, employment data in the United States was published. According to the ADP report, the number of jobs in the private sector in August increased by 132,000. Forecast expected an increase of 300,000. The divergence of expectations has served as a stimulus for the local sell-off of the US dollar. As a reminder, the ADP report is often viewed by traders as a leading indicator for the US Department of Labor report due on September 2nd. Category "Interesting moments" Bloomberg: Fed Chairman Jerome Powell has buried the concept of a "soft landing" of the US economy. Now the Fed's goal is to bring inflation down by slowing US economic growth below its potential level, which officials estimate at 1.8%. Analysis of trading charts from August 31 The EURUSD currency pair, despite local manifestations of activity caused by speculative interest, is still in close proximity to the parity level (1.0000). Price fluctuation within 150 points lasted for almost two weeks. This movement, in theory, can become a process of accumulation of trading forces. The GBP/USD currency pair gradually weakened, which resulted in a prolongation of the main downward trend. Details: Since August, the pound has lost 700 points (about 5.5%) of value, which is considered a strong price change, allowing short positions to overheat. Since the beginning of the medium-term trend, June 2021, the pound has lost 2,600 points in value (about 18.5%). Economic calendar for September 1 The final data on business activity indices in the manufacturing sector in Europe, the United Kingdom, and the United States are to be published today. If the indicators coincide with the preliminary estimate, the data will be ignored by market participants since they have already been priced in. The EU employment data will also be published, which may rise from 6.6% to 6.7%. This is already a negative factor for the euro if the forecast matches. During the American session, in addition to the manufacturing PMI data, weekly jobless claims in the United States will be published, where figures are assumed to rise. This is a negative factor for the US labor market, which may affect dollar positions. Statistics details: The volume of continuing claims for benefits may increase from 1.415 million to 1.438 million. The volume of initial claims for benefits may increase from 243,000 to 248,000. Time targeting: EU Manufacturing PMI – 08:00 UTC UK Manufacturing PMI – 08:30 UTC EU Unemployment – 09:00 UTC US Jobless Claims – 12:30 UTC US Manufacturing PMI – 14:00 UTC Trading plan for EUR/USD on September 1 A recent attempt to keep the price above 1.0050 proved unsuccessful. As a result, the quote again rolled back to the level of 1.0000. In this situation, do not rush, the tactics of work, as before, will be focused on the main move that will arise after the completion of the stage of accumulation of trading. We concretize the above: The upward scenario for the currency pair is taken into account after the price is held above the value of 1.0050. In order to filter out false touches, the quote needs to stay above the control value in the daily period. The downward scenario is considered in the market in the form of two steps. The local move will be considered by the trailers at the moment the price holds below 0.9970 in a four-hour period. In this case, there is a high probability of movement towards the value of 0.9900. The main move will be relevant after holding the price below 0.9890 in the daily period. This scenario will lead to a prolongation of the trend. Trading plan for GBP/USD on September 1 In this situation, market participants set their sights on the local low of 2020. There are about 150 points left to go, but given the growing oversold level of the pound sterling, a full-length technical correction is possible. The price area 1.1410/1.1525 can serve as a support on the way of sellers. What is shown in the trading charts? A candlestick chart view is graphical rectangles of white and black light, with sticks on top and bottom. When analyzing each candle in detail, you will see its characteristics of a relative period: the opening price, closing price, and maximum and minimum prices. Horizontal levels are price coordinates, relative to which a stop or a price reversal may occur. These levels are called support and resistance in the market. Circles and rectangles are highlighted examples where the price of the story unfolded. This color selection indicates horizontal lines that may put pressure on the quote in the future. The up/down arrows are the reference points of the possible price direction in the future.     Relevance up to 09:00 2022-09-02 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320541

Join us for the last Trading Week Ahead Live of the month with the ForexAnalytix ‘The Flow Show’, hosted by Ryan Littlestone. Watch the live stream as Ryan provides you with news updates and market insight from the earlier Asian and early European sessions to help you plan your upcoming trading week.  JOIN US THIS WEDNESDAY FOR OUR PENULTIMATE LIVE MARKET UPDATE OF THE MONTH | 27th July 2022! Prepare for the week’s market movements with an accomplished industry expert. Tune into the last Eightcap Trade Zone Live Market update of the month. Join us on Wednesday 27th July, at 7.30PM AEDT (10.30AM BST) for a 30-45 minute live stream as Ryan delivers his final mid-week update. Reviewing the news, moves, and market progress made since Monday’s Trading Week Ahead. Set a Reminder The Eightcap 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 ForexAnalytix this month on the Trade Zone as we explore more of the markets together – Please remember to trade safely! The post Trading Week Ahead Live in Partnership with ForexAnalytix ‘The Flow Show’ appeared first on Eightcap.

Welcome to Thursday’s update. So far today, we have been watching the EURUSD as buyers have started to fight back after some demand crept in yesterday. We are watching the current price to see if a new continuation can confirm on the 4H chart as price continues to sit on its new fast uptrend. We can see the latest trend forming after buyer’s first leg higher broke the last downtrend, but we still need to see price confirm with a new push higher from this point. We would like to see a test of 1.0250 resistance, and a break of that level could confirm that we have a new trend underway. The ECB meets later today, and rates are expected to increase by 25 basis points. This is a special occasion as rates have not moved in the EU for some time now. Attention will always be on the statement and if there are hints of more to come. Will this give the EUR a short-term boost? We want to see price continue to trade firm until the decision. If we see a break of the current trend or a move below 1.0155 this could be a bad sign for buyers on the short term. Ensure you tune in for today’s ECB meeting at 8:15 am EST. Enjoy the rest of you your day and good trading. 4H EURUSD Chart Today’s EURUSD update video (powered by trading view) The post EURUSD, buyers starting to set up a new continuation? appeared first on Eightcap.

Hi and thanks for stopping by to watch today’s update. Today we’re looking at Bitcoin on the 4H after a few days of solid buying, and a few rejected pushes higher. Yesterday’s things looked bright for bitcoin and the top ten as it looked like buyers here hit on the case, and we saw plenty of solid gains across the boards. Things changed in the NY session as sellers moved in and knocked prices lower. This was short-lived as we saw fresh demand hit the markets this morning. Bitcoin retested resistance but has stalled once again, with sellers taking price back below 22,000. In today’s update, we break down resistance and price action we are watching with the current trend structure. If buyers can hold 21,480, could we see a new shot at resistance? Feel free to let us know your thoughts, and we wish all a happy Tuesday and good trading. Our Bitcoin update video is just below the 4H Bitcoin chart. Bitcoin 4H Bitcoin Update Video (powred by TradingView) The post Bitcoin held at 22,700 resistance. Can buyers take the next step? appeared first on Eightcap.

View the latest Trading Outlook from resident Eightcap and Trade Zone analyst Joe Jeffriess. Summarising the activity from the Asian session, review Joe’s market recommendations as he looks towards the London open. The post 18.07.22 | Trading Outlook with Resident Analyst Joe Jeffriess appeared first on Eightcap.

Join us for the penultimate episode of our Trading Week Ahead Live, in partnership with the ForexAnalytix, as we look to finish off the month strongly and deliver more expert live market analysis. Watch Ryan Littlestone, market expert, Managing Director, and host of the ForexAnalytix ‘The Flow Show’, as he takes you through the news and moves from the Asian and early European sessions, and continues to help you to plan for the upcoming week.  JOIN US THIS WEDNESDAY FOR OUR PENULTIMATE LIVE MARKET UPDATE OF THE MONTH | 20th July 2022! Secure your place to see how an expert prepares for the week’s market activity! Join Ryan as ForexAnalytix’s ‘The Flow Show’ continues to take control of the Eightcap Trade Zone and provide you with his penultimate mid-week Live Market update of the month. Watch his 30-45 minute live stream on Wednesday 13th July at 7.30PM AEDT (10.30AM BST), as he explores the news and moves, seeks trade ideas, and analyses the market progress since Monday’s Trading Week Ahead. Set a Reminder The Eightcap 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 ForexAnalytix this month on the Trade Zone as we explore more of the markets together – Please remember to trade safely! The post Trading Week Ahead Live in Partnership with ForexAnalytix ‘The Flow Show’ appeared first on Eightcap.

Another mixed week traders. We started the week with declines that started last weekend and dragged into the week as sellers looked to have taken control. In a positive twist, buyers emerged on Wednesday and stopped the move lower. We saw an average-looking spinner bar that day, but it shifted momentum, and buyers set up a nice day on Thursday with just over 7% added to the top 10 and 7.90% to the top 25. The week centred on the continuing fallout from what’s been dubbed “the Crypto Winter” and the collapses of Three Arrows and Celsius. These two were big players in the industry, and their failures are still sending jitters through the industry. Things look bleak for leaders of TAC, as with last reports suggesting outstanding loans won’t be able to be repaid. Reports also noted the directors of TAC could have gone into hiding. Both were reported by articles on CNBC this week. Continuing to move on with the positive, today we’re seeing price continue its rebound with new two-day highs on the CRYPTO10 and CRYPTO25 indexes. As usual, opinions are divided on whether we will see a new extension lower or if we could be in a technical pause that could turn into a rebound. We are going to break down bitcoin and put forward or ideas on what we would like to see happen, to say yes, we could have a rally or the warning signs that we could see a new extension lower. There is talk from other analysts that Bitcoin could still have to make one more leg lower before it could find a bottom. The general lower price area is seen from 15,000 – 13,000. This is a slightly longer outlook for Bitcoin, but we feel that the current position and pattern is important not only for the next step in BTC but also for Crypto, as we all know that Bitcoin still drives most of the top caps in the market. Incorporating some of the points above about one more leg down this can be seen in the chart with price currently sitting in a consolidation pattern in two downtrends. We can see a triangle around the current consolidation, but we can also see two clear key levels of support and demand holding the current price action. Price has also lined up nicely with a return to the faster downtrend. The OBV also shows a pattern we have seen in the recent declines. And like price the OBV has also returned to its downtrend. So it is rather simple for us, break the triangle and break support. We could be seeing the start of a new extension lower. If buyers can break above resistance and through the fast downtrend, we could be looking at a deeper move higher. The post Crypto Focus: We’re seeing price continue its rebound appeared first on Eightcap.

Join us for the penultimate episode of our Trading Week Ahead Live, in partnership with the ForexAnalytix, as we look to finish off the month strongly and deliver more expert live market analysis. Watch Ryan Littlestone, market expert, Managing Director, and host of the ForexAnalytix ‘The Flow Show’, as he takes you through the news and moves from the Asian and early European sessions, and continues to help you to plan for the upcoming week.  JOIN US THIS WEDNESDAY FOR OUR PENULTIMATE LIVE MARKET UPDATE OF THE MONTH | 20th July 2022! Secure your place to see how an expert prepares for the week’s market activity! Join Ryan as ForexAnalytix’s ‘The Flow Show’ continues to take control of the Eightcap Trade Zone and provide you with his penultimate mid-week Live Market update of the month. Watch his 30-45 minute live stream on Wednesday 13th July at 7.30PM AEDT (10.30AM BST), as he explores the news and moves, seeks trade ideas, and analyses the market progress since Monday’s Trading Week Ahead. Set a Reminder The Eightcap 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 ForexAnalytix this month on the Trade Zone as we explore more of the markets together – Please remember to trade safely! The post Trading Week Ahead Live in Partnership with ForexAnalytix ‘The Flow Show’ appeared first on Eightcap.

Hi traders, today has been an exciting day with strong gains seen from the majors to the JPY. The USD made a late fightback, and we did see new weekly highs on the USD index. Risk majors, as a result, have traded lower to the USD, but for now, the EUR hasn’t gotten back down to parity. The USD strength has lifted one pair to levels not seen in serval months. Oil was another factor as price failed to build on yesterday’s gains and has dropped close to 3% lower. The pair we’re talking about today is the USDCAD. The Bank of Canada raised rates by 2.5% early this morning, and that, combined with weaker oil prices and a firmer USD, helped buyers jump back into the USDCAD. Price has hit 1.15% in gains, and price has broken above the resistance area noted in today’s chart below. The strong surge confirmed an ascending triangle pattern; we are now looking to the two remaining supply areas. If buyers can maintain momentum, could we see a new move back into the 1.32 Handel, a level not seen since 2020 when the market entered into its sharp bear trend that moved back to the 1.20 area. The market has had plenty of time to charge up for this move, and it’s good to see the current breakout coming from a bullish continuation pattern. It will come down to USD momentum and oil strength to help maintain buyer drive. USDCAD D1 Chart The post Forex News; USDCAD above resistance. Will we see a new extension? appeared first on Eightcap.

Welcome to Wednesday’s update, traders. Today our focus is on oil as price has started to move higher after testing and holding for now at key support. Price continues to trade in a short to medium-term downtrend after sellers turned momentum back in June. Since that point, it’s been a series of LHs and LLs. Today’s price has shown defensive action from buyers after this morning’s lower gap failed to beat 94.90 area support and demand. Could yesterday’s bar be seen as exhaustion? If buyers can hold this level of support, we will be looking for price to continue to push higher. Obviously, if we see a break, then it’s back to looking for new LLs maintaining the downtrend. The MAs remain bearish, but the OBV has stopped putting in clear LLs despite yesterday’s strong move lower. Could support be hiding plenty of fresh demand from oil buyers? We will have to wait and see if buyers can hold the level again today. Data to keep an eye out for today. 10:30 pm US CPI and core CPI. 12:30 am US crude oil inventory numbers. Oil D1 Chart The post CFD News; Oil sees demand after testing key support. appeared first on Eightcap.

Hello, and thanks for stopping by. Our US30 market update video is just below the US30 d1 chart. In today’s report, we break down the US30 on an overall longer-term view and the current short-term view. Overall the trend remains down, and we are watching to see if the short term can complete the current pattern of trend and maintain a normal trend with a new LL. Sellers are in control on the short term but they have a bit to do to confirm that. On the short-term, sellers continue to hold sway with a break of yesterday’s low in today’s out-of-hours session. We’re seeing two keys moving forward. 1, sellers break 30,500 demand and set off back to 29,683 low. If demand holds and we see a new move above 31,500 resistance, we will jump off the seller train and look at the possibility that the uptrend from the 20th of June has further to run. Good trading and we hope you enjoy your day. US30 D1 Chart US30 Update Video (powered by TradingView) The post US30 pressure continues. Could the short-term run be over? appeared first on Eightcap.

Happy Monday, traders. We are looking at the GBPUSD today as price has started to show signs that a new lower test could be building. Overall, prices remain in a downtrend, with plenty of LHs and LLs showing a normal pattern of trend. Looking at recent price action, we can see resistance remains in play at 1.2035. Since buyers made their last rally on the 7th, they have not been able to get past that level on the attempts. Today’s bar is mid-range, but sellers are now holding control after the USD set off a firm start to the new week. Looking lower, we see minor support at 1.1915. Buyers so far have defended this level well since the first break on the 5th. A lot will come down to continued USD strength; if this remains, we will look for sellers to get back down and test support. A break and we could see confirmation that a new leg lower is getting underway. A buyer move above resistance cancels out this idea. GBPUSD D1 Chart The post Forex News: GBPUSD set to move lower? appeared first on Eightcap.

After a short break, resident Eightcap and Trade Zone analyst, Joe Jeffriess is back with his morning Trading Outlook. Watch his earlier recording as he summarises the news and developments from today’s Asian trading session. Offering you his predictions and the potential trade opportunities he feels are in play as we look ahead to the London open. The post 11.07.22 | Trading Outlook with Resident Analyst Joe Jeffriess appeared first on Eightcap.

Join us for another instalment of our Trading Week Ahead Live, in partnership with the ForexAnalytix ‘The Flow Show’, as we deliver more expert market insight. Watch Ryan Littlestone, Managing Director and market expert at ForexAnalytix, as he takes you through the news and moves from the Asian and early European sessions, and looks to plan for the upcoming week.  JOIN THIS WEDNESDAY’S FOR OUR SECOND LIVE MARKET UPDATE | 13th July 2022! Be inspired by our expert! Watch Ryan as ForexAnalytix’s ‘The Flow Show’ takes the Eightcap Trade Zone helm and provides your mid-week Live Market update. Join him as he hosts another 30-45 minute live stream on Wednesday 13th July at 7.30PM AEDT (10.30AM BST), as he updates you with the news and moves made since Monday’s Trading Week Ahead. Set a Reminder The Eightcap 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 ForexAnalytix this month on the Trade Zone as we explore more of the markets together – Please remember to trade safely! The post Trading Week Ahead Live in Partnership with ForexAnalytix ‘The Flow Show’ appeared first on Eightcap.

Join us this coming Monday for another instalment of our Trading Week Ahead Live in partnership with the ForexAnalytix ‘The Flow Show’, to deliver you more expert market insight. Watch Ryan Littlestone, Managing Director and market expert at ForexAnalytix as as he takes you through the news and moves from the Asia and early European sessions, and looks to plan for the upcoming week.  JOIN THIS WEDNESDAY’S FOR OUR SECOND LIVE MARKET UPDATE | 13th July 2022! Be inspired by our expert! Watch Ryan as ForexAnalytix’s ‘The Flow Show’ takes the Eightcap Trade Zone helm this July. Join Ryan, ForexAnalytix Managing Director and a veteran trader with 30+ years of trading experience, as he hosts a 30-45 minute live stream on Wednesday 13th July at 7.30PM AEDT (10.30AM BST), as he takes you through his mid-week review. Set a Reminder The Eightcap 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 ForexAnalytix this month on the Trade Zone as we explore more of the markets together – Please remember to trade safely! The post Trading Week Ahead Live in Partnership with ForexAnalytix ‘The Flow Show’ appeared first on Eightcap.

Overall, it has been a positive week so far for most of the coins. After a pullback from gains last week, buyers have once again come out to try and settle things down. Could this be the start of a foundation being set by buyers that could turn into a new counter rally? More time is required before we can start thinking that’s the case, but for now, things are ok as sellers have stopped being able to set new lower lows. The top 25 index looks similar to a few of the major charts on the weekly. One solid bar up followed by a bar lower that failed to test lows and a new fightback this week that, in some cases, has set new weekly highs or beaten last week’s opening price. What we want to see from the buyer side is a hold of the last key low. If this can remain in play, that could continue to feed ideas that a bottom is trying to come in. For now, most of the coins continue to follow the wider fortunes of risk markets as we have seen a recovery in stock indexes and major risk currencies to the USD. The USD has found buyer demand today, and US employment numbers could add to or hurt that story. While Crypto remains heavily pegged to risk, it might come down to USD demand to see if we see the current lows hold. Our focus today is on Bitcoin. BTCUSD D1 continues to look positive. Price gaining over 13%, hitting 22K. price still remains below the main downtrend line, but we have seen a higher breakout of the consolidation pattern. The key now for buyers in the short term is to break 21,750 resistance. A fail there could see price continue to consolidate, but a break could set up a new test of the main downtrend. The post Crypto Focus: Buyers have once again come out to try and settle things down appeared first on Eightcap.

Hi traders, welcome to today’s update. We can see demand and support developing for oil on the weekly and daily charts. In today’s update, we will concentrate on the weekly chart. Overall price remains in an uptrend; this trend is long-term as it has been running since April 2020. Since the last spike to 130, we have seen price become choppy, with resistance at $119 – $124 and a new LH confirmed last month. A fast decline occurred after the LH and price briefly broke below the $100 round number. It’s what’s happening below $100 that has our attention at the moment. We can see a strong area of demand from 97.50. Since February this year, each attempt from sellers has failed to break this area. This week so far has been no different. Once again, we have seen a move into this area rejected by buyers in that area. With this in mind, we will see a new rally set up that could end up retesting the resistance area at 122? This all rests on the premise that the demand area can continue to hold. If we did see a break, we would be looking for a new move lower that tests the main trend line. Some of the factors at the moment. Global recession fears, this could continue to drive the USD higher and put pressure on oil due to future demand. Further lockdowns in China could also weigh on demand due to China’s oil demand. Obviously, any new developments regarding Russia could also have a direct impact on supply. Demand increasing or holding firm with price holding above the demand area could be a positive for buyers, but if factors swing against and we see a break of demand, the reaction could be turning into something more significant. Finally, it’s pretty hard to believe right now that oil traded at $7.27 just over 2-years ago! OIL W1 Chart The post Oil pulling away after testing key demand area appeared first on Eightcap.

Hi, traders; welcome to Wednesday’s update. With oil tumbling and the USD jumping, we can only think of one pair that benefits from those two moves. The USDCAD is highly driven on both fronts, and the CAD is a commodity currency that generally tracks oil’s fortunes. The USD, well yeh enough said. Last night we saw key moves on oil and the USD. Oil shed up to 10% and briefly traded below the $100 level. The USD shot higher, the index trading above 106.50. Looking at the daily USDCAD chart below, we can see that price continues to trade in a new fast trend after buyers took control on the 8th of June. Since then, we have seen one reaction that set up demand and an HL late in June. Buying has continued into July, with traders retesting key resistance and supply areas that have stood since May. The recent resistance and supply lines up with a longer-term level of supply /resistance that runs back to November 2020. This is our line in the sand that buyers must break to continue the current trend. If we see a break above these levels, it could be ga,e on with 1.31 and 1.32 or higher a possibility. Fail, and we would look for a new move to possibly retest the 1.2850 area. It’s really up to buyers and mainly USD momentum to continue to drive the current buyer move. The Fed minutes are due out today at 04:00 am AEST, and they could play a role in the current short-term USD pulse. USDCAD D1 Chart The post USDCAD set to stall at or break key resistance? appeared first on Eightcap.

Join our first Trading Week Ahead Live of the month, as ForexAnalytix give you access to their morning market analysis platform, ‘The Flow Show’. Watch Ryan Littlestone, as he delivers market insight, potential market ideas and the opportunities he feels are in play for the upcoming week. JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 6th July 2022! Have trouble deciding what to trade? An accomplished trader with 30+ years of trading experience, Join Ryan as he delivers his first Live Market Update, as ForexAnalytix’s ‘The Flow Show’ takes over the Eightcap Trade Zone for July. Join Ryan, for a 30-45-minute live stream on Wednesday 6th July at 7.30PM AEDT (10.30AM BST) as he guides you through the trading week. Set a Reminder The Eightcap 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 ForexAnalytix this month on the Trade Zone as we explore more of the markets together – Please remember to trade safely! The post Trading Week Ahead Live in Partnership with ForexAnalytix ‘The Flow Show’ appeared first on Eightcap.

Join our first Trading Week Ahead Live of the month, as ForexAnalytix give you access to their morning market analysis platform, ‘The Flow Show’. Watch Ryan littlestone this coming Monday, 4th July, at 7.30PM AEST (10.30AM BST), as ForexAnalytix delivers their market insight, potential market ideas and opportunities they feel are in play for the upcoming week JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 6th July 2022! Have trouble deciding what to trade? Join Ryan as he delivers his first live market update as ForexAnalytix’s ‘The Flow Show’ takes over the Trade Zone for July. Join Ryan Littlestone, an accomplished trader with 30+ years of trading experience, for a 30-45-minute live stream on Wednesday 6th July at 7.30PM AEDT (10.30AM BST) as he guides you through the trading week. Set a Reminder 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 ForexAnalytix this month on the Trade Zone as we explore more of the markets together – Please remember to trade safely! The post Trading Week Ahead Live in Partnership with ForexAnalytix ‘The Flow Show’ appeared first on Eightcap.

Happy Tuesday, thanks for stopping by and checking out our latest analysis and analysis video. Today our focus is on Bitcoin’s 4H chart. Looking at the 4H, we can see that Bitcoin has made the first leg higher, breaking the last lower fast trend and moving above the moving averages. Since that break higher, we have seen the market move into consolidation. The pattern we can see on the 4H is an ascending triangle pattern. These patterns are generally seen as continuation patterns when they are sitting in up legs or up trends. From here, it is all up to buyers. Can they confirm the pattern with a new break higher? If we do see a confirmed breakout, we will be looking to see if buyers can test 22,700 resistance. If buyer momentum really carries forward past 22,700, we would then be looking at 28,500 – 31,000 to come in as resistance possibly. But before we get too far ahead of ourselves, let’s see if bitcoin buyers can first confirm the pattern and get back up to 22,700! If sellers set a new close below 20,100, we will start doubting buyer strength. Bitcoin 4H chart Bitcoin 4H analysis (powered by TradingView)  The post Bitcoin trading in a possible continuation pattern? appeared first on Eightcap.

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

Do you want to know more about the movement and opportunities in the Asian market? Then enjoy this recording by Joe Jeffriess, resident Eightcap and Trade Zone analyst, as he offers you his insight in our latest Trading Outlook. Watch his morning overview as he summarises the developments and setups made in today’s Asian trading session. Then gives you his prediction on potential moves as we look ahead to the London open. The post 20.06.22 | Trading Outlook with Resident Analyst Joe Jeffriess appeared first on Eightcap.

Watch Stuart McPhee, trader, property investor, and bestselling author, this Monday for more analysis and market support in his Trading Week Ahead Live. Join him as he begins the week by sharing his market approach, potential trade ideas, and opportunities that are in play for the coming week.  JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 22nd June 2022! Would you like some more support in understanding the mid-week performance and trajectory of the markets? Register for next week’s Live Market Update and join Stuart on Wednesday 22nd June, at 7PM AEST (10AM BST) as he shares his review of the market progression made and summarises his predictions as we approach the weekend. Register Now At the end of the session, you will have the chance to ask Stuart all your market, strategy, and trade-related questions in a live Q&A. Learn how to approach the markets and what you need to trade CFDs safely. If you are looking for that extra bit of support and guidance, the Trade Zone is the perfect place to get the help you need to improve your skills and understanding. 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 Week Ahead Live with Stuart McPhee appeared first on Eightcap.

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.

Thanks for tuning in, readers. Today we’re looking at USOUSD oil and wondering if yesterday’s price rejection could lead to a new leg higher from buyers. So far this week, we have seen mixed trade with buyers coming close to breaking last week’s high before sellers took hold and set up a two-day retracement. It would have been three, but buyers had other ideas yesterday, stopping sellers once they tested 112.75. Buyers quickly took price back up above 117 and posted a higher close for the session. Today so far price has been on the quieter side. If we can see a new move above yesterday’s high, we will be looking for a new up leg, but if sellers can close below 115.14 this could be a warning that the current retracement could have further to go. If we do see a new leg higher would look for price to possibly get back into the 120/21 area if buyers can maintain momentum. Happy Friday, all. We hope everyone has a lovely weekend and good trading. USOUSD D1 Chart (please see below for our analysis video powered by TradingView) USOUSD Analysis Video The post USOUSD OIL, Yesterday’s buyer fightback to push a new leg higher? appeared first on Eightcap.

Watch Stuart McPhee, trader, property investor, and bestselling author, this Monday for more analysis and market support in his Trading Week Ahead Live for the week. Join him as he begins the week by sharing his market approach, potential trade ideas, and opportunities that are in play for the coming week.  JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 22nd June 2022! Would you like some more support in understanding the mid-week performance and trajectory of the markets? Register for next week’s Live Market Update and join Stuart on Wednesday 22nd June, at 7PM AEST (10AM BST) as he shares his review of the market progression made and summarises his predictions as we approach the weekend. Register Now At the end of the session, you will have the chance to ask Stuart all your market, strategy, and trade-related questions in a live Q&A. Learn how to approach the markets and what you need to trade CFDs safely. If you are looking for that extra bit of support and guidance, the Trade Zone is the perfect place to get the help you need to improve your skills and understanding. 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 Week Ahead Live with Stuart McPhee appeared first on Eightcap.

After a long period of heavy selling, crypto markets saw a small respite yesterday. The Fed raised rates higher than expected yesterday and advised they will do whatever is required to get inflation back around the 2% level. Whether it was a point of oversold value or market confidence in the Fed’s message of action, the result was a recovery in risk markets. From FX to indexes and crypto buyers pushed back, posting higher closes after days of selling. This morning the script continued on from yesterday as buyers continued to hold sway, but this changed into the LON session as a wave of new sellers moved in, knocking the wind out of buyer sails. Bitcoin is the focus of today’s report. After 8 hours of buying, sellers stepped in, re-holding 22,670 resistance. Since that point, we are now seeing three straight bars lower. From here, the 4H show’s a V pattern which could become a reversal but  the trends are definitely lower at the moment, and price failed to break 22,670 resistance. We see two paths from this point. One, buyers manage to break resistance extending the current recovery. Two, we see the current selling expand with a new move back to support. If we see a break of support, this could set up a new extension of the current downtrend. Bitcoin 4H chart The post Crypto News: Bitcoin stalling after yesterday’s recovery? appeared first on Eightcap.

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.

Watch Joe Jeffriess, resident Eightcap, and Trade Zone analyst, as he provides more insightful analysis in his weekly Trading Outlook. Review his early morning summary, as he offers a comprehensive overview of the moves and setups in today’s Asian trading session, then gives you his predictions as we look ahead to the London open. The post 13.06.22 | Trading Outlook with Resident Analyst Joe Jeffriess appeared first on Eightcap.

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.

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.

Blue on the crypto boards into today’s London session. The CRYPTO25 index leads the gains, but our focus is on Solana as the price has started to bounce after holding one again from 37.50 support. This support is the base of a descending triangle price pattern, and the price has just started to break out of it in today’s session. Yes, we’re seeing good signs with buying currently, but we hope to see the price close above the upper triangle line completing the breakout. If we do see a move confirm the breakout, we will be looking at the red resistance lines and if buyers can start clearing these resistance levels and get a new up leg happening. Looking further ahead, the next main level of resistance could be seen at the last low area, around 78.99. All of this comes down to price breaking out and not fading back into the pattern. If we see a failed rally today, that would be a worry, and it could suggest that buyer momentum isn’t that strong. A break below the support base, and we could be switching short. But for now, we will continue to watch if Solana buyers can confirm a pattern break. Solana D1 Chart The post Crypto Update: Solana, will we finally see a technical move higher?   appeared first on Eightcap.

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.

The post 13.06.22 | Trading Outlook with Resident Analyst Joe Jeffriess appeared first on Eightcap.

Looking at the action on the majors to the USD in today’s London session, you might notice that the EUR is currently y running its own race as the other two majors track lower. It’s an interesting picture atm as the AUD and GBP trade lower to a firm USD while the EURUSD has broken yesterday’s high after pulling back 0.27% Price overall remains in a choppy range. Yesterday’s bar showed buyer demand as it stopped a third straight day of selling. There’s plenty of demand from 1.0675 down to 1.0650. But it’s the choppiness that’s a worry. If today’s bar can hold higher above yesterday’s close, that could kick start a new move that could retest 1.0750 demand. We want to see a move above 1.0780 to show that the current up leg is setting up as a new trend. While price remains in the consolidation, we do wonder if the weight may also easily lead to new test lower by sellers. Thursday could play a part in the short term fortunes of the EURUSD as the ECM meets. Rates are expected to remain on hold, but it’s the statement from the ECB and their future stance that might have an impact. EURUSD D1 Chart   The post Forex Update: EURUSD bucking USD demand but will we see resistance retested? appeared first on Eightcap.

Happy Monday. After a flat weekend, buyers have defiantly hit the new week with a lot more energy. After a hesitant start, buyers came back into the crypto markets during today’s Asian session. In today’s European and London session we’re still seeing strong interest, with many of the top 10 continuing to hit solid gains. Our focus today is on Cardano. Has today’s rally started to confirm a new leg high? What has our interest is the pattern before today’s action. We can see a clear LL that failed to hold and a new HL in May. We did see one attempt by buyers fail after they tested .6850. After consolidation, today’s move is a breakout with support at .5460 and minor resistance at .6040. We want to see price close above resistance today. Looking forward, we want to see how buyers handle their latest move back into the last supply area. A break above or firm close, close to .68 would be a good sign buyers are in control of momentum. A close below 0.600 would worry, in our opinion. Thanks for stopping by, and please check out or market update below the chart. Cardano D1 Chart   Cardano Update Video (Powered by TradingView) The post Crypto News: Has Cardano started up a new leg higher appeared first on Eightcap.

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.

Watch resident Eightcap and Trade Zone analyst Joe Jeffriess as he delivers another insightful instalment of his weekly Trading Outlook. Recap his early morning summary, as he provides an overview of the market positions and moves made in today’s Asian trading session, whilst then offering you his ideas and predictions as we look towards the London open. The post 06.06.22 | Trading Outlook with Resident Analyst Joe Jeffriess appeared first on Eightcap.

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.

Today our focus is on USOUSD (Oil) as price finished yesterday’s session with a commanding reversal bar. After trading over 2% lower, buyers not only took hold but ended the session with a solid 3.83% gain. Yesterday’s session appears to show that buyers are still very active, and for now, price is not comfortable trading below 114.77. The move maintains the current trend, but we want to see further confirmation to suggest that the trend is set to continue. Also supporting price are the moving averages and CCI. The moving averages are crossed to show buyers are in control of the average price (increasing( and the CCI remains in the bull zone above the 0 line. If buyers can reverse today’s selling and beat 119.50 minor resistance, which also holds yesterday’s high, we will then be looking for the current trend to continue with a possible new test of 122 or above. A failure to break yesterday’s high and minor resistance in today’s session could be seen as a small warning to buyer strength. Please check out or oil update video just below the chart. Oil D1 Chart Oil analysis video  The post CFD Update: Could we see Oil retest 122? appeared first on Eightcap.

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.

Watch resident Eightcap and Trade Zone analyst Joe Jeffriess as he delivers another insight instalment of the Trading Outlook. Recap his early morning summary, as he provides his overview of the market positions and moves made in today’s Asian trading session, whilst then offering you his ideas and predictions as we look towards the London open. The post 06.06.22 | Trading Outlook with Resident Analyst Joe Jeffriess appeared first on Eightcap.

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.

Hello to our readers,  we hope you are all having a great day. Today we have been looking at the US30, and we can’t help but noints the solid-looking trend break on the current upswing. This has us thinking, could we see a 123 pattern that sets up a 2nd upswing and confirms the current leg higher as a new short-medium-term uptrend? We have the V shape pattern that’s nice to see in reversals. Next, if we see further selling develop today and tomorrow, we will start looking for a new move from buyers that breaks the last high, confirms the 123 pattern (HL), and suggests that this upswing could be a new trend. Until we see further selling, we will continue to wait. But if the above does happen, we will be looking for breaks of the high to possibly set up new longs. If we see a new high today’ we will be waiting, and if selling breaks below 31,700, we will also be waiting. Please take a look at the daily chart and today’s US30 video update below the chart (powered by TradingView) US30 Daily Chart US30 Update Video The post CFD News: 123 Pattern building on the US30? appeared first on Eightcap.

Today we are looking at BNBUSD as price continues to post a solid rally off the back of a wider risk and crypto rally. Weekend action was choppy, with price setting up a minor range before buyers took control in today’s Asians session. Buyers continued to drive up to the Europeans session breaking above the weekend range. ST Support ST support is seen at 300, and resistance is seen at 328. For the trend to continue, we would like to see buyers push price back up to test and, hopefully, through to continue to the current ST uptrend. If buyers can continue to push higher, we will be looking at the downtrend point as possible higher resistance. A break back below ST support and through the current ST uptrend would be a worry that the overall downtrend could still be in play. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM Recently, BNBUSD has been seeing more demand than other coins in the top 10 so if today’s momentum continues, we would be looking for BNBUSD to continue to run. BNBUSD D1 Chart The post Crypto News: BNBUSD set to retest resistance? appeared first on Eightcap.

Watch Joe Jeffriess, Eightcap’s resident analyst, as he offers another edition of the Trading Outlook. Recap his early morning recording as he starts your week by summarising the moves and progression made in today’s Asian trading session, then offers you his insight and predictions on how this sets us up as we look towards the London open.   The post 30.05.22 | Trading Outlook with Resident Analyst Joe Jeffriess appeared first on Eightcap.

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.

Meet Stuart McPhee, Eightcap’s newest guest market analyst. Stuart is a private equity and FX trader with over 20 years of experience in the industry, having made guest appearances on ASX, CNA, CNBC, and Sky News Business. Whilst being an accomplished bestselling author, Stuart is also considered to be Australia’s most compelling keynote speaker on everything trading, who has delivered countless talks to tens of thousands of traders at investment expos all around the world. He has helped countless traders improve their performance with his expertise in technical analysis, trading psychology, risk management, the trading process, and developing a trading plan. If you would like to know more about Stuart, check out his best-selling book, Trading in a Nutshell, 4th Edition. To keep up-to-date with Stuart, follow him on Twitter and LinkedIn for more information. The post Introducing June’s Trade Zone Guest Analyst Stuart McPhee appeared first on Eightcap.

Today’s update focuses on BTCUSD as price remains fixed in a pennant consolidation pattern. With the Medium-term trend and possibly the longer-term trend lower, you could lean toward this being a potential continuation pattern, but as noted in the video, we defiantly think it’s essential to wait for a clear breakout before thinking about picking a direction. In today’s European session, selling pressure has ramped up, and we see some solid selling across crypto boards. BTC is now 1.76% lower after trading in the positive earlier in the day. Short-term support is seen at 29,000. If you’re looking for a lower breakout and continuation, a break of this level is a step in the right direction. ETHUSD also had the same pattern, but sellers look to be on the way to confirming a new lower breakout. We will keep an eye on the crypto boards today to see if these moves continue. (Please check our market update video power by TradingView below the BTCUSD chart) BTCUSD D1 Chart BTCUSD Video Update The post BTCUSD are we close to seeing some direction? appeared first on Eightcap.

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.

Today we’re looking at AVAXUSD as price remains in a solid-looking downtrend. We are watching a consolidation pattern that could be a descending triangle or a wedge type pattern in the existing trend. The key for us is at 28 support. If sellers break this level, the continuation could be on, and we would like to see a new LL set to show normal pattern of trend. If buyers can continue to hold 28 and above, this could be a worry for short term seller momentum that was set with a break of yesterday’s low this morning. This pattern is also seen on SOLUSD, and other coins in the top 10 remain range-bound. It’s really up to sellers now if they want to take this trend lower. The Daily AVAX chart is below and for more information on this idea please feel free to check out our market the video is listed below the chart. AVAXUSD Market Update Video powered by TradingView The post Crypto Update: AVAXUSD, are sellers planning a new bear raid? appeared first on Eightcap.

Risk majors followed up their fightback last Friday with more solid gains into Monday’s session. The AUD has seen solid gains after the weekend’s Federal election, which saw a change of government. The EUR hasn’t seen those two gains but has still beat last week’s high. The breakout above last week’s high drew our attention to the GBPUSD today. This, for now, looks like a new continuation higher and maintains the new fast uptrend that we have seen form since buyers broke the last fast downtrend. We can also see a V reversal pattern forming, which is good to see in new emerging fast trends. Looking forward, we can see price moving into a supply area, and a break of the upper range would be a solid sign to continue the bull’s case. Above that, if buyers can maintain the move, we will be looking to the orange box that lines up with the medium-term trend line and if buyers can beat that area. Later today, BOE Governor Baily will speak at 12:15 am AEST GBPUSD D1 chart The post Forex News: GBPUSD breakout watch. appeared first on Eightcap.

Join Eightcap’s resident analyst Joe Jeffriess for today’s Trading Outlook. Watch as he summarises today’s Asian trading session, and offers you his insight and predictions, as we look towards the London open. The post Trading Outlook with Resident Analyst Joe Jeffriess appeared first on Eightcap.

Watch Andrew Lockwood’s final week on the Eightcap Trade Zone. Start with his live Monday morning Trading Week Ahead, as he delivers his insight on the potential markets to monitor from Indices, Forex, and Commodities and shares possible trade ideas and opportunities for the coming week.  JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 18th May 2022! Would you like to know more about any of the markets or strategies featured in this month’s Trade Zone? Then Join us this coming Wednesday, at 7PM AEST (10AM BST), as Andrew offers his final mid-week Live Market Update. Watch as he looks back at his analysis from Monday, updates his insight about the moves and developments that have been made, and shares where he foresees the market heading as we approach the weekend. Register Now The Trade Zone is the perfect place to get the help and support you need. At the end of the session, join Andrew and the rest of the Trade Zone community for a live Q&A. Ask all your market, strategy, and trade-related questions to get the answers needed to improve your trade education. Join us in the Trade Zone this week, and as always, please remember to trade safely! The post Trade Zone Week Ahead: Real-Time Morning Insight with Andrew Lockwood appeared first on Eightcap.

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.

The post Trade Zone Week Ahead: Real-Time Morning Insight with Andrew Lockwood appeared first on Eightcap.

Join Eightcap’s resident analyst Joe Jeffriess for another morning session of the Trading Outlook. Watch as he summaries today’s Asian trading session, and offers you his insight and predictions, as we look towards the London session. The post Trading Outlook with Resident Analyst Joe Jeffriess appeared first on Eightcap.

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.

Today we are looking at the GER30 daily as buyer momentum continues to drive forward this week, with price breaking the medium-term downtrend in today’s session. It’s been a  decent week so far for stock indexes. Buyers continue to hold sway with another solid rally in today’s session. Buying is widespread across the CFD indexes and is part of a broader risk on the move that has seen risk currencies and crypto coins pushing into the green. The GER30, after setting its last LL in March, has shown us a bullish signal with a new HL in May. Since that point, we have seen the current rally test and break the medium-term downtrend. These are good signs from buyers at the moment, but we would like to see the next step taken with a new HH put in. We would also like to see that HH hit above the last LH, which would continue to confirm the trend break. If buyers can achieve this, we would then like to see a new HL maintaining a new normal short-term uptrend. 14,555 could come in as resistance if reached, but new HLs after retracements will keep the idea in play. A failure to set a new HH and a slip back into the downtrend is a worry. A new move lower that breaks the last HL basically discounts the bullish signs we are watching and discussing above. GER30 D1 Chart The post CFD News: GER30 could be starting a new leg higher. appeared first on Eightcap.

Looking at the USDCAD on the daily chart traders, could we see a new move lower if sellers can reverse today’s rally and break last Friday’s low? We are looking for that low break as it will back up a break of the fast trend and confirm the current bearish CCI. Risk markets look to be back in vogue on the short term, but this could be a short term move as overall inflation has not gone anywhere. There could be a case to put forward that rate rises could start to be factored in, and that expectation could outweigh the actual, but from recent history, the USD has been performing since 2021, and yes, we could see an extended retracement in the market, but fundamentals would need to change too dramatically to change the overall trend. Oil is another factor for this pair, and for now, buyers are trimming earlier losses. So we will continue to watch this pair’s price action, and if we do see a new break below last Friday’s low, we will look to see if it can turn into a new leg lower. USDCAD D1 Chart The post Forex News: USDCAD, could a new push lower be on the cards? appeared first on Eightcap.

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.

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.

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.

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.

After days of heavy selling, crypto markets have started to see signs of demand today, with most of the top 25 coins moving into the positive after being hammered within 24 hours ago. Today, things continued to look dire as coins continued to touch new monthly lows. KeeperDAO (RookUSD) continues to fight back from the 71.40 -76.80 area. This area has been showing demand and support for buyers since January. Sellers till this point haven’t been able to break through, pushing the downtrend to that next level lower. Buyers have rejected five attempts at beating the level. But they haven’t been able to get a new trend going as resistance at 142.20 has continued to halt their runs. Looking at the picture now, there are two obvious outcomes. 1, we see the demand area hold, and we see a new push higher from buyers. If buyers can reach that level again, the test will be at 142.20 resistance. 2, overall pressure returns to the crypto boards, and selling returns pushing price back into the demand area and possibly through it confirming a weekly continuation. RookUSD The post RookUSD, are buyers starting to reconfirm the demand area? appeared first on Eightcap.

Things have taken a turn back to safe havens with heavy selling resuming into today’s European session. After a small push at a fightback, the floodgates reopened. Stock indices and Crypto markets have been the heaviest hit, with some coins dropping over 11% lower. Sellers haven’t overlooked Gold as sellers moved back into the yellow metal knocking back below 1862. We see a little bit on-demand around this area, but this may not offer much resistance if this level of selling continues. For now, price looks to have confirmed an LH, but will we see a new LL continuing the current trend with a new point of normal trend behaviour. Furthermore, a move below the trendline would also be a sign that the current fast downtrend controls the market. A lot will come down to USD demand and continued exit from risk assets as US recession fears continue. Gold D1 Chart The post CFD News: Gold, close to confirming new leg lower? appeared first on Eightcap.

What a wild week. Looking at the weekly charts, it just looks like another lower week, but that was far from the truth. Most coins started the week on the sell, with Monday’s session setting new weekly lows. A lot of attention was on Thursday’s FOMC meeting. US policy regarding rates due to inflation has been a key driver, and this meeting was no exception. The FOMC statement surprised the market as the tone looked to take a less aggressive tone. Risk markets jumped after the statement. Gains were across the boards as FX stocks and Crypto all rallied sharply. The USD plunged, threatening to break weeks of gains. Signs looked good on Thursday as daily candles on several coins looked to show engulfing reversal bars. As we regularly see in the markets, you can never get married to anything. The situation changed dramatically on Friday as fears returned around inflation and policy, and gains we watched evaporated into heavy selling that has carried on. However, the question remains – is this reversal a new confirmation of a leg lower? The post Crypto Focus: A Wild Week on the Markets appeared first on Eightcap.

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.

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.

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.

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.

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.

Watch Andrew Lockwood from ForexSignals.com, as kicks off May’s Trade Zone, with his first Trading Week Ahead Live. Join him as he takes a real-time look at the Indices, Forex, and Commodities markets, and gives you all his potential trade opportunities for the upcoming week. JOIN ANDREW THIS WEDNESDAY, FOR HIS FIRST LIVE MARKET UPDATE OF MAY… REGISTER NOW! Join us this coming Wednesday, at 7 PM AEST (10 AM BST), as Andrew looks back at Monday’s Trading Week Ahead Live, and analyses the development moves made in the markets since Monday’s forecast. Watch as Andrew looks ahead at all the potential trading opportunities available as the weekend approaches, and gives you his reasons for what lays ahead. Register Now If you want a session to summaries the levels you need to be watching? Then this is the perfect session for you, as the trading week draws to a close. At the end of the webinar, join the Trade Zone community, as Andrew Lockwood answers all your market and trade-related questions in an end-of-session live Q&A. So, if you have any questions relating to any of the pairs or commodities covered this week, please have them ready. Sit back, enjoy… And remember to trade safely! Remember to have any questions you may have, about any of the pairs or commodities covered this week The post Trading Week Ahead – Indices, Forex, and Commodities appeared first on Eightcap.

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.

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.

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.

Doge made a solid run higher yesterday after the Twitter board accepted Elon Musk’s buy out deal. The deal is reported at $54.20 per share, which is valued at around $44 billion USD. We can see the break of the downtrend on the 16th of March... Doge buyers jumped back into the crypto, adding just over 29% to yesterday’s high. This bar maintains the new uptrend that we’re watching after a new higher low was also formed. We can see the break of the downtrend on the 16th of March. Read next: Eightcap - Crypto Focus: Another Choppy Week on the Markets | FXMAG.COM With this week’s surge and HL we will continue to look at a trend continuation pattern, but the stopping point remains at 0.17 cents. This level has been and continues to be a critical level of resistance. The last time buyers made a close above this level was back in January. For the trend to continue, we need to see buyers break this resistance to show that we really do have an uptrend underway. If this level can’t be beaten, we will be looking for the range to continue unless we see a new move back down to 0.1312 support. Dogecoin D1 Chart The post Crypto News: DOGE soars after Twitter news, but can it continue? appeared first on Eightcap. Read next: Eightcap - CFD News: ASX200 returns to a key supply area | FXMAG.COM  

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.

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.

Today we are looking at the EURUSD on the 8H as price has broken the fast trend and has started to form a new leg higher. The move has been accelerated by today’s reversal on the USD, which looks to be taking a break after three straight sessions of gains. The EURUSD spent a fair period of time in its last trend lower after the last countertrend broke. Buyers tried a few times to regain control in the previous trend lower, but sellers had the answers until today. Today buyers look to have found plenty of drive as not only have we seen the range beaten, but we have also seen the fast trend broken. With the USD helping drive momentum, buyers look to be in control for the time being. There are a few things to keep an eye on. A fade of the current 8H bar cutting all of its gains is a warning, as is a new move back into the range which could also pressure to break the uptrend. We would like to see a positive close in today’s NY session showing buyers are in command. If we do see the rally hold, we will be looking for the next pullback to hold the new trendline further confirming it. If that all stay’s the course, we would be looking to the supply/resistance pictured on the chart to possibly offer up a test for buyers. EURUSD 8H Chart The post Forex News: EURUSD has some drive, but can it continue? appeared first on Eightcap.

Today we are looking at the SPX500 as sellers look to have started a new push lower that could continue the normal trend series of LHs and LLs. Since the 30th of March, we have watched the current pullback gather momentum. Could it be the start of a new medium-term to long term downtrend? We will first have to see if sellers can continue the current trend series with a new LL. It’s been a clean normal trend so far since sellers broke the uptrend. We can see the clear series of LHs and LLs show a normal pattern of trend. Today sellers beat the last bars open and have also beaten minor support seen at 4388.50. The real target remains the last LL as we have seen a new LH form. We have also noted the LH that’s formed under the 0 level on the CCI. A CCI trading below the 0 can support bearish price action ideas. What’s standing in the way for sellers remains the current area of potential demand. If this is an actual push lower, we want to see the demand area beaten and a new LL put in. A failure to set a new LL with a new counter rally could be a warning sign that seller momentum is not as strong as thought. This week traders should keep an eye on US earnings and US treasuries. SPX500 D1 Chart The post CFD News: SPX500 set to extend its downtrend? appeared first on Eightcap.

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.

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.

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.

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.

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.

This week so far has definitely been about the USD. Price has seen solid gains so far, with the index adding 0.98% and hitting a new weekly high of 99.65. Inflation worries in the US, followed by aggressive comments from the Fed regarding rate increases to combat soaring inflation, have been the key driver. US inflation hit40-yearadjustment to try and get it under control. Inflation is now a widespread issue, with Europe, Britain and Australia feeling the pinch. Today we are focusing on the USDCAD as a higher USD, and weaker oil prices continue to support buying. The price broke out of its mini range yesterday, and buyers have followed up on the break with new weekly highs today. Today’s move also confirms the breakout. Price started its move from a solid-looking foundation after forming a range off a well-established support area. Looking forward, if this is a true move higher, we would like to see if buyers can get the price back up to 1.2626. This area is a previous low and could develop into resistance. What we don’t want to see is a new move by sellers pushing price back into the range or back down to support. This could become a failure break and set up new downward pressure. USDCAD D1 Chart The post Forex Update: USDCAD setting up a new push higher? appeared first on Eightcap.

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.

Looking at ICPUSD we can see solid buyer demand today. The price holds a 4% gain and is trading up to 22.8. Focus remains on if today’s bullish bar can take the next step and form a new continuation. After a long, drawn-out downtrend that started in September 2021, price finally showed some signs from the buyer side in March as buyers moved past the long-term downtrend. This move confirmed a descending wedge pattern which can be a trend change signs when confirmed. So far, so good. The price continues to hold new higher highs and higher lows since breaking past the downtrend line. We can also now see a new short/medium-term uptrend in play. Today’s bar still remains held in a minor consolidation pattern, but if we can see buyers close above 22, this could be a good sign for bulls in the short term. A break and close above 23.5 sets a new higher high and continues to show buyers are in control. A worry for us would be a move back below 22, which puts price back in the range and casts some doubt on short-term momentum. A move to close below 20 would start to put pressure on the new trend unless we see a quick higher, low and higher high to show buyer support. ICPUSD D1 Chart The post Crypto Update: ICPUSD can buyers continue the new trend? appeared first on Eightcap.

Looking at the HK50 today, we can see price has started to break out of its consolidation pattern. Last month we discussed the plunge we saw on the HK50 as price crashed back to 18,139. Things changed dramatically as buyers surged price higher, adding 10% in one session. Since that session, we have been watching the consolidation pattern as it started to form and then continued to develop. The pattern took on an ascending triangle shape. These are normally seen as bullish continuation type patterns. This fits in nicely in this situation as price is trading in a new uptrend after buyers broke the fast downtrend back in March. Today buyers took the next step with a breakout of the pattern. So far, so good as price continues to trade above last week’s highs. We want to see price close above 22,450 to confirm the break. A move back inside the range casts doubt on buyer momentum. If we do see a newly confirmed break, we would like to see buyers break the first level of resistance. A break of that level, and we would look for a possible move that could retest the main downtrend line. Step one for bulls is to confirm the break and beat resistance. HK50 D1 Chart The post CFD Update: HK50, breakout setting up new move to retest trendline? appeared first on Eightcap.

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.

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.

Today we’re looking at AUDUSD after the price failed once again to hold above .75 cents. The newest rejection also lines up with key resistance that also continues to hold buyers at bay. Price failed at 75 cents for a fifth time today, reinforcing the current supply area. Above this area, we also have key resistance at 7540-7540. This level has been in play since July 2021, and for now, it is proving to be a significant sticking point blocking buyer’s momentum. Today, sellers so far hold control, and the AUD has led the losses out of the three primary risk majors, dropping 0.50% to today’s low. Price, for now, is setting up a new consolidation pattern with support seen at 7465. This is the area sellers need to break to get a new leg going. A move through this level could set up a new pushback into areas between support and the main trend line retracement point of view, with the idea buyers will look at regaining control. It’s the next move that matters as if they can’t reach/break supply and resistance. This could be early signs a more significant shift in momentum is developing. Traders will be watching tomorrow’s US employment data as this could impact the USD and, in turn, impact the AUDUSD. The data is due Friday at 11:30 pm AEDT. AUDUSD D1 Chart The post Forex Update: AUDUSD could resistance set up a new leg lower? appeared first on Eightcap.

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.

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.

// GBPJPY - Loss of Momentum Into Structure by Akil_Stokes on TradingView.com Last week we looked at this same pair & I was waiting for a double top to form as price broke into a previous level of structure resistance from the daily/ weekly timeframe (Brexit Zone). Well we never got our double top (which brings up another valuable lesson about why we have RULES for patterns & the importance of following them), but the general prediction still holds true.Looking at current price movement along with the slope of the previous upward trend, it should be clear that we are losing momentum as we push deeper into resistance. Because of this I would expect some sort of relief to come as the buying pressure starts to lesson and new sellers begin to enter the market.Currently there are no signs of reversal as far as trade entry go, but this pair will once again be high on my watchlist for the week ahead.I hope you guys enjoyed the breakdown! If so please do me a favor and hit that like button to show your support. Also feel free to leave me any questions or comments that you may have about the pair or my analysis.Wishing you a GREAT week of trading!Akil*Note - I thought I shared my idea for this pair on tradingview last week, but apparently it was in the Live Stream from March 23rd 2022

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.

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.

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.

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.

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.

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.

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.

The Hang Sang index fell to levels not seen since 2016 as several issues kept trader’s fingers on the sell button. The carnage was widespread as the ChinaA50 dropped 4.87% and the Shanghai Composite lost 4.95%. Investors are very nervous over potential delistings of U.S. duel listed stocks like Alibaba and JD.com. Both shares plunged over 10%. Neo, the electric car maker, was also hit hard due to delisting fears, its price fell 12.81% after it sank in last night’s U.S. session. The other big issue facing Chai right now is its latest Covid outbreak. The numbers are the largest the country has seen since 2020. Shanghai and Shenzhen are back in partial lockdowns, this is driving fear around business confidence. Despite the big numbers in the outbreaks, China is maintaining its Covid 0 policy for now. Back to the Hang Seng, over 8% has been taken off the index in the last two days of trade. The HK50 indexes is down just on 20% for the month of March. Looking at the monthly HK50 has price now started to become extended? We can see that price has moved back into a demand area that has stopped two previous declines. Cold we see this area come back in as support for buyers and offer up some resistance to the current one-way traffic? HK50 Monthly Chart The post CFD Update: Hang Seng tumbles for second straight session appeared first on Eightcap.

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.

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.

What’s next for the GER30 (DAX) traders? Today we will take a look at the current price actions signs that we’re watching. Short-term traders could have been having a feat on the recent price moves with a 10% fall in the last five days and a 12% rally to this week’s high. It is that movement that has started to get our attention as we can now see a V pattern forming. V patterns can produce reversals, but we need to see buyers beat yesterday’s high to start getting any ideas of confirmation going. The DAX has been one of the main indexes severely beaten down after Russia invaded Ukraine. Many of its weight stocks were hit hard by worry over the future implications of a conflict in Europe and surging oil prices. Over 16% was wiped off the GER30 index in the last three weeks to its low. This week price made a strong fightback after crude prices plunged overnight, and on the news, Russia and Ukraine are looking to sit down for talks. Will the V confirm? A lot rests on the fundamentals driving price at the moment. Will we see a cease-fire that’s respected? Will this lead to oil continuing to retreat? We feel these are important factors to give buyers further confidence to take the market higher. Any flare-ups could set off new rounds of selling, which could set the V up to fail. GER30 D1 Chart The post CFD Update: Can the GER30 confirm the reversal pattern? appeared first on Eightcap.

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.

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.

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.

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.

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.

Looking at gold we can see price starting to form a range after a wild few days of trade. Since last Thursday when Russia invaded Ukraine we have seen some amazing moves on gold as traders looked to the metal as a hedge. Last Thursday’s surge up to 1974.48 capped off a well-developed rally that started back in January. As the crisis developed and then unfolded buyers piled into gold. But Thursday was a mixed bag as risk recovered and this shock sent gold back down to 1903, setting off a rather solid bull trap. Over the weekend tensions continued to develop on the Russian side and the word nuclear was mentioned. This set a strong gap to start the week as spot gold starting trading at 1916 today. Trade from the open hasn’t been confident and we’re still watching price slowly decline. This leads us to today’s chart. After today’s gap, we can see two clear areas of support and resistance after the dust of last week and this morning’s open. Tensions between Russia and the west and their invasion of Ukraine are going to continue as the key factor. Break and close above resistance we will look for further higher prices. Break below support, we could see a new move back to the second slower trendline. GOLD 4H The post CFD Update: Gold starting to lock up after a wild three days of trade appeared first on Eightcap.

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.

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.

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.

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.

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.

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.

Hi traders, today we’re looking at the SPX500 after buyers re-held long-term support yesterday. Until yesterday’s hold trade had been one way on the SPX500 as markets continued to deal with the ongoing tensions between Ukraine and Russia. Over the last three weeks, just over 5% was wiped off the index as investors fled back to safety. yes yesterday’s developments were not the best but to the markets, it looks like the lesser of two evils. Price re-held at 4270 long-term support maintaining the level that’s held since July 2021. For now, this is our line, while things in Europe continue at the current situation we hope to see this level continue to hold. This could feed further value buying and validate the new V pattern that we’re seeing set up. We want to see further buying to really start confirming this pattern. If buyers can get a new leg higher going we see 4470 as potential resistance. If things escalate in Europe and price breaks key support, that not only resumes the current downtrend but also confirms the SPX500 in official correction status. SPX500 D1 Chart The post CFD Update: SPX500 holds at support but will we see a rally? appeared first on Eightcap.

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.

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 Tuesday EUR ECB President Lagarde Speaks JPY GDP AUD RBA Meeting Minutes Wednesday USD PPI GBP CPI Thursday USD Core Retail Sales, Retail Sales CAD Core CPI OIL Crude Oil Inventories USD FOMC Meeting Minutes CAD Employment Change Friday USD Initial Jobless Claims GBP Retail Sales Saturday CAD Core Retail Sales (Times adapted to AEDT timezone) The post Trade Zone Week Ahead with David Floyd (Aspen Trading): 21st – 25th February appeared first on Eightcap.

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.

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.

We’re seeing a solid momentum shift today as news hit that some Russian troops have been returned to bases. This ease in tentions is driving risk buying after what has been a sorry few days for buyers as prices plunged on worries Russia was close to invading Ukraine. Friday GER30 returned to LT support a level that held for buyers since May 2021. Above that, we are also watching a shorter-term level of support seen at 15,030. On top of the levels, we can also see a double bottom and the Williams %R has crossed the mid-point range. While these technical indicators look great the meat in this sandwich is the continued ease in tentions, this fact in our opinion is key to seeing this current rally turn into something more. If we do see a continuation of buying as the European situation improves we would look for the GER30 to continue tracking higher and we would look at 15,601 as possible resistance if reached which lines up with the longer-term 86ema. GER30 D1 Chart  The post CFD Update: GER30 on the recovery trail as tensions ease appeared first on Eightcap.

Aspen Trading’s David Floyd returns for the third week of his Trade Zone guest spot and once again, he’s looking ahead at the new trading week and some of the assets, and more importantly the levels he’s watching as markets open today. This week, the focus is back on the S&P500 after the tremors of a new geopolitical shock to the financial markets emerged on Friday. David also takes a look at some pertinent forex pairs and gives an update on the volatility index as the action ramps up for yet another week. 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. The post Trade Zone Week Ahead with David Floyd (Aspen Trading): 14th – 18th February appeared first on Eightcap.