5. · First, a review of last week’s events: EUR/USD. If you look at the chart of this pair on D1, it is safe to talk about the uptrend in the last eight weeks. But if you switch to lower timeframes 5. · Action Forex blogger.com's Blog. Tuesday, May 30, Tools the Winners Use Tools the Winners Use: "Achieving success in futures trading requires avoiding numerous pitfalls as much, or more, than it does seeking out and executing " posted by Action Forex @ AM 1 comments. Seven Big Things Action Forex-Dec 20 17, GMT 1 2 3 Page 1 of blogger.com was set up back in with the aim to provide insightful analysis to forex traders, serving the trading community
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If you look at the chart of this pair on D1, it is safe to action forex about the uptrend in the last eight weeks. The last chord of the five-day period sounded in the area of the Pivot Point of this channel as well, at the level of 1.
The number of applications for unemployment benefits in the United States continues to decline, but the indicator of pending sales in the real estate market is falling. Orders for capital goods excluding defense and aviation have risen, while orders for durable goods have fallen. And the annual data on US GDP Q1 has remained at the same level. Last spring, when the Fed flooded the market with cheap money, action forex, its policy was perfectly understandable: to pull the economy out of the crisis and support the purchasing power of the population.
A year has passed, the recession is over, stock indices are mushrooming, unemployment is declining, action forex, inflation is gaining momentum. But the Fed continues to insist that the set targets have not yet been achieved and therefore it is too early to wind down the fiscal stimulus QE programs. So what should investors do with their spare money?
And it should be noted that due to QE programs, this happens not only in the Action forex States, but also in other countries, including Europe. As a result, a huge amount of both dollars and European and other currencies have settled in hands of not only American, action forex also foreign investors. And just like the euro, the British currency paired with the dollar has been in a sideways trend for two weeks, fluctuating within the range of 1. However, unlike the European currency, the activity of the bulls on the pound was significantly higher.
This was facilitated by expectations of a faster than forecast increase in interest rates by the Bank of England. One of the managers of the Bank of England, Gertjan Vlieghe, announced on Thursday, May 27 that rates could rise in the first half of At the same time, the official stipulated that this would happen only if the labor market recovers faster action forex expected.
After both of these statements, the pair approached the month high again, action forex, where, at 1, action forex. But in the battle between bulls and bears, they were strongly supported by the growth in the yield of the year US Treasury bonds, which rose from 1.
Given that the yen is a safe haven currency, such changes always put strong pressure on it, especially when you consider that the yield on year Japanese bonds is only 0. You can currently find a lot of similarities with the beginning of the crypto winter in and However, there are also many differences. Therefore, it is not worth yet to firmly assert that we are now witnessing the entry into winter Rather, the past month can be called late autumn, after which, bypassing winter, spring can start straight away.
The market is under pressure of the ongoing struggle against mining and trading in virtual currencies in China. For example, the 8 paragraphs of the document published by the Inner Mongolia Reform and Development Commission can help understand how this is happening. So, Industrial parks and data centers are ordered to reduce energy consumption, and telecommunications companies are prohibited from working with miners under the threat of license revocation.
The authorities also promise to prosecute illegal miners. The same applies to money laundering attempts and illegal fundraising using action forex. In addition, the list mentions Internet action forex that will be closed if mining on their territory is revealed. Companies whose activities are related to cryptocurrencies mining, and their senior employees are subject to inclusion in the list of unreliable persons, and officials supporting the miners will be subject to disciplinary responsibility.
According to Reuters, the major mining companies BTC. TOP and HashCow are winding down their operations in China amid such tightening legislation. HashCow has not yet stopped the current capacity but has refused to buy new farms. On the other hand, there is good news as well. Elon Musk, because of whom the market experienced two serious falls in May, has now helped it grow again.
A number of North American mining companies had a meeting with him. However, along with the decline in the index, the likelihood of new purchases from investors expecting a large discount is growing as well. That was what happened this time as well. Bouncing off the bottom, the quotes went up.
So, action forex, the potential for further growth of the main cryptocurrency has not yet been exhausted. About 1 action forex leveraged transactions were liquidated during this short period, action forex. The lowest value in May for the bitcoin dominance index was It is slightly higher now at And it is possible that growth will continue further, thanks to the sale action forex less stable altcoins.
As for the forecast for the coming week, action forex, summarizing the views of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:.
Goldman Sachs and Deutsche Bank believe that the current situation resembleswhen the USD index was going down. But Morgan Stanley experts have the opposite opinion, action forex. They believe that current events are more like the s and s, when the dollar strengthened in the face of a large current account deficit.
And now this deficit in relation to GDP is the highest since This is due to the fact that, due to the QE programs, imports to the United States are growing faster than exports. But the DXY dollar index bulls hope that the outpacing dynamics of the US economy compared to the European and global ones will stir up investor interest in the US currency and action forex assets.
The nearest support is 1, action forex. There action forex a complete discord among the oscillators on H4.
D1 is still dominated by green. A lot of important economic information is expected in the coming week. We are expecting the publication of data on the consumer market in Germany on Monday, action forex, May 31, and there will be similar statistics for the Eurozone as a whole the next day, on Tuesday.
German retail sales data will be released on Wednesday June 2. The report on the level of employment in the private sector and action forex ISM index of business activity in the US service sector will be released on Thursday, June 3. And there will be action forex on retail sales in the Eurozone and, traditionally, on the number of new jobs created outside the US agricultural sector NFP at the very end of the working week, action forex, on June 4.
Action forex support of their forecast, they remind that the Bank of England improved its forecast regarding the pace of economic recovery in early May, and that the economy should action forex to pre-crisis levels by the end of the year.
Especially since they do not sleep overseas either. The nearest support levels are 1. The target is 1. Technical indicators still action forex with the bulls. Graphical analysis shows a downward rebound from resistance 1. As for the events of the week, two speeches of the head of the Bank of England Andrew Bailey on June 1 and 3 can be noted, during which investors will wait for new promises to raise interest rates.
Also of interest is the hearing of the UK inflation report, which is scheduled for Thursday June 3. The technical analysis readings for this pair could be called GreenPeace. The nearest resistance is at In case of a breakdown of its lower border, the next target is Even if the asset loses most of its value, it will still be in demand in its own infrastructure. If the coin continues to rise in price, then even the central banks action forex the states that opposed cryptocurrencies will begin to consider it.
We are already talking about hundreds action forex billions of dollars. This may indicate another phase of asset accumulation after a deep drawdown, which prevented bitcoin, and after it, the entire cryptocurrency market, from going into a real free fall.
Many influencers are also filled with optimism. The investment company Ark Invest general director Katie Wood confirms her forecast once again. Wood says the recent correction has raised the chances of SEC US Securities and Exchange Commission approval for bitcoin funds.
The point is, a product with a lower price tag is more likely to get the green light. In addition, Katie Wood spoke about the statements by Elon Musk that caused the collapse of the crypto market.
She suggested that he was pressured by shareholders such as BlackRock to drop the BTC price. However, the head of Ark Invest expects Musk to return to the crypto investor community. The future of ethereum is seen even more rosy, according to some experts. Professor of NYU Stern Business School Aswath Damodaran believes that ethereum is better suited for trading on exchanges than bitcoin, action forex.
According to the expert, the ETH ecosystem is more flexible, which makes it easier to work with it in trades, especially in an environment of increased volatility. Damodaran noted that many small action forex on exchanges are trading better than bitcoin, action forex, as transactions with them are faster.
The BTC network is much more involved, which means that transfers can take a fairly long period of time, action forex, even by the standards of fiat transactions. Therefore, bitcoin is more suitable as a global asset for investment, the specialist believes. And some statistics at the end of the review. The Dogecoin meme cryptocurrency turns out to be more recognizable than ethereum among US citizens, perhaps thanks to Elon Musk, action forex.
This is evidenced by the results of a joint survey conducted by Harris Poll and CouponCabin. com was set up back in with the aim to action forex insightful analysis action forex forex traders, serving the trading community for over a decade, action forex. Empowering the individual traders was, is, and will always be our motto going forward. Contact us: contact actionforex. Necessary cookies are absolutely essential for the website to function properly.
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5. · First, a review of last week’s events: EUR/USD. If you look at the chart of this pair on D1, it is safe to talk about the uptrend in the last eight weeks. But if you switch to lower timeframes blogger.com was set up back in with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is Action Forex-Dec 20 17, GMT 1 2 3 Page 1 of blogger.com was set up back in with the aim to provide insightful analysis to forex traders, serving the trading community
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