waves

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.

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.

TOP 3 most traded CFD stocks of this week Information is one of the most valuable commodities. No one can tell you with absolute certainty where any stock is headed. But sometimes you just need to know where, at what point, and why are investors taking the most positions to try to take advantage of the volume and volatility yourselves. We bring you a summary of this week’s top 3 most traded CFD stocks at Purple Trading. What is behind their popularity and what is the outlook for the future? You can find answers to these questions in today’s article. Uber Shares of the notoricaly loss-making taxi service are under a lot of pressure this year. They have lost more than half their value since January. Uber is now selling more than 50% below the price it was when it entered the stock markets in 2019. Comparing it to its all-time high of $63.18 in early January 2021 is even more dismal. The big drop in Uber stock isn't too surprising in the context of the company's financial results from the first quarter of the year. While Uber's revenue grew 136% year-over-year to $6.9 billion, its net loss came in at $5.9 billion due to failed investments in Grab, Aurora, and DiDi. Chart 1: Uber shares on the MT4 platform on the M15 timeframe along with the 100 and 200 day moving averages Uber has become the focus of investor attention in recent days due to leaked information about lobbying high-profile politicians such as French President Emmanuel Macron. The revelations of the scandal have made Uber shares very volatile, which traders have taken advantage of.   The outlook for the coming months is not very positive for the company - high fuel prices are making Uber's services more expensive and a possible recession could significantly affect the company's revenues. Uber's business can be described as rather cyclical and in times of recession the company could suffer as a result. Nor should we underestimate the impact of the growing coronavirus, which is once again beginning to plague the entire world.   However, Uber’s relatively low valuation (it is now trading near an all-time low) and its positive cash flow outlook for 2022 is what’s playing into Uber’s hands. The company will publish its 2Q earnings in early August, and no matter the outcome, Uber shares are likely to remain popular among traders.   Palantir Uber has become the focus of investor attention in recent days due to leaked information about lobbying high-profile politicians such as French President Emmanuel Macron. The revelations of the scandal have made Uber shares very volatile, which traders have taken advantage of.   The outlook for the coming months is not very positive for the company - high fuel prices are making Uber's services more expensive and a possible recession could significantly affect the company's revenues. Uber's business can be described as rather cyclical and in times of recession the company could suffer as a result. Nor should we underestimate the impact of the growing coronavirus, which is once again beginning to plague the entire world.   However, Uber’s relatively low valuation (it is now trading near an all-time low) and its positive cash flow outlook for 2022 is what’s playing into Uber’s hands. The company will publish its 2Q earnings in early August, and no matter the outcome, Uber shares are likely to remain popular among traders. Chart 2: Palantir shares on the MT4 platform on the M15 timeframe along with the 100 and 200 day moving averages Investors still have no idea where to classify Palantir - is it an army contractor or an IT company? The stock's performance so far this year would point more towards an IT company. Military contractors like Lockheed Martin and Raytheon Technologies have had a great year so far, outperforming the S&P 500 index significantly. Palantir's CEO visited Ukraine in June in an effort to expand the company's operations. This obviously pleased investors, but potential expansion is difficult to quantify.   Moreover, the company's capitalization is still more than 10 times its annual revenue, a giant number compared to its competitors. Competitor Booz Allen Hamilton is currently selling for about 1.5 times annual sales, and the company's stock is near this year’s low. The company has a long track record of growing sales and, unlike Palantir, is profitable. Palantir's 2Q earnings are due in the first half of August. The company is expecting 25% year-on-year revenue growth. However, in the same period a year ago, the company grew revenue by 49%. Thus, any surprise in the earnings could cause high volatility. Palantir is definitely a stock to watch.    Moderna Seeing the famous vaccine producer among this week’s most traded companies in our CFD stock offering is not much of a surprise. Yet, back in mid-June, things were not looking good for Moderna shares - as this company was about 50% below the price we could see at the beginning of the year. However, the last month has been great for Moderna and its shares have soared almost by 50%. The reasons for this steep rise are clear - the coronavirus is once again on the rise globally. Since the beginning of June, the number of daily covid cases have practically doubled globally. The World Health Organisation has warned that the pandemic is far from over. This is just more water on the mill for companies such as Moderna and BioNTech. In addition, Moderna's actions were also helped by the June approval of a vaccine for American children and adolescents aged 6 months to 17 years. Chart 3: Shares of Moderna in the MT4 platform on the M15 timeframe along with the 100 and 200 day moving averages After the outbreak of the coronavirus pandemic, Moderna was the darling of investors for obvious reasons. Shares thus reached an all-time high of almost USD 500. Since last September, however, it has gone south sharply. Looking at the P/E ratio (the ratio of share price to earnings per share), Moderna looks very attractive - the ratio is now around 5, which is a great number for a pharmaceutical company. In addition, Moderna is well funded - the selling of coronavirus vaccines have given it very interesting liquidity.   The biggest concern for investors, however, is the future of the company and its earnings once the coronavirus has passed. Apart from the vaccines mentioned above, at this moment the company does not sell any other products to the public. It has several other products in the testing phase, but their final approval and sales are uncertain. Thus, Moderna's stock may continue to thrive in the coming months thanks to further covid waves. In the long term, however, the company will need more products if it is to prosper.  

On the hourly chart, the GBP/USD pair on Tuesday secured above the next corrective level of 127.2% (1.2917). Thus, the growth process can continue toward the next corrective level of 161.8% (1.3007). A level of 1.3000 can be considered a psychological mark, and such levels usually attract price. In other words, traders may subconsciously strive for such marks. The pair's consolidation below the level of 1.2917 will work in favor of the US dollar, and some fall toward the level of 1.2847. The waves are now painting us the same picture as with the euro.   Each peak of the next wave is higher than the previous one, and each low - is higher than the previous one. Thus, there are no prerequisites for a change in traders' sentiment to "bearish." However, the most important report of this week will be released today, so the market reaction can be strong and unexpected. The pound rose in the first two days of the week, although the grounds for purchases were quite dubious. For example, yesterday's unemployment reports in the UK showed a deterioration, and the pound could show a decline.   But traders have already focused on US inflation, which could drop to 3.1% in June. This value has already been factored in, but what if the report shows a different result? In this case, we are waiting for a move that will depend on the side of the deviation from the forecast. If the consumer price index turns out to be above 3.1%, then a decline in the pair can be expected. If below - new growth. The level of 1.3000 can be worked out a bit later, not today. Today the probability of a decline is higher. However, this does not mean traders' sentiment will change to "bearish."   On the 4-hour chart, the pair has rebounded from the level of 1.2745 and consolidated above the level of 1.2860. Thus, the growth of quotes can continue towards the next level of 1.3044. A "bearish" divergence is brewing at the CCI indicator, which may indicate the beginning of forming a "bearish" wave on the hourly chart. There are no sell signals now, and the pound ignores the news background, which should have led to its decline.   Commitments of Traders (COT) Report: During the previous reporting week, there was a shift in the "Non-commercial" traders' sentiment, which turned somewhat less "bullish." The count of long contracts held by speculators fell by 7,921 units, while the short contracts saw a decrease of 6,192. Despite this, the predominant sentiment among the major players remains distinctly "bullish," with a marked difference between long and short contracts: 96 thousand to 46 thousand. The pound has a favorable outlook for further growth, particularly as the current news environment lends it more support than the dollar. Nevertheless, anticipating a strong surge in the value of the pound sterling is increasingly challenging. The market is overlooking several factors that favor the dollar, and expectations of continual interest rate increases from the Bank of England primarily drive the pound's growth.     Here's the upcoming news schedule for the US and UK: US - Consumer Price Index (CPI) (12:30 UTC). US - "Beige Book" (18:00 UTC).   For Wednesday, the economic event calendar includes one report and one event. The "Beige Book," an aggregation of economic reports from various US regions, doesn't generally significantly influence the market. However, the inflation report may substantially sway traders' sentiments. As for the GBP/USD forecast and trading advice: Minimal selling of the pound during the "bullish" trend is possible. For instance, a rebound from the 1.3007 mark on the hourly chart with a target of 1.2917 or a closure below the 1.2917 level aiming for 1.2847 could be considered. New purchases could be advisable upon a rebound from the 1.2917 level on the hourly chart, aiming for 1.3007. However, movements in the latter half of the day may be considerable and vary in direction.  

Nearly all of the major ones ended the week within 0.5% of where they had started, an unusual level of quiescence. The hotter-than-expected consumer inflation report out of the US initially made some waves, and helped the dollar rally modestly. By the end of the week, markets were, however, back assigning an implied 80% chance of a March cut in Federal Reserve rates after a miss in Friday’s producer inflation report. Government bond yields were lower and risk assets rose upwards in response, while the dollar was essentially flat. This week is relatively quiet in terms of economic data or policy announcements, although there will be an unusual number of ECB and Federal Reserve speeches on tap. The November Eurozone industrial production data on Monday, and December UK inflation on Wednesday, provide the main economic references. Federal Reserve speeches will be particularly critical to see if the central bank continues to push back against market hopes for a March cut in rates and 165 basis points of cuts for the whole of 2024, which still strikes us as way too aggressive.