📈 Pricewise Stavros Georgiadis

Is British Pound Going Up? Forex & CFD Weekly Forecast

Pricewise
Our expert reasons about the weekly situation on the Forex market and predicts the growth of the British Pound
Is British Pound Going Up? Forex & CFD Weekly Forecast
Contents

On Friday, Nov. 2, 2018, the US dollar pared losses on surprising the US nonfarm payroll data. The US Unemployment Rate for the month of October 2018 actual figure was 3.7% vs. 3.7% forecast, and the USD Change in Nonfarm Payrolls actual figure was 250K vs. 200K forecast.

These strong numbers pointing a solid growth in the US labor market will be the focus for the US Dollar trend this week as we are approaching the midterm elections and most importantly the FOMC Rate Decision on Thursday, Nov. 8, 2018. This week, there are three monetary policy decisions from the Fed, the Reserve Bank of Australia, and the Reserve Bank of New Zealand, all of them being key economic events.

These are the main forecasts for EUR/USD, GBP/USD, and USD/JPY this week.

EUR/USD Forecast

EUR/USD

Weekly Pivot Points for the pair are S1 1.1307, Pivot 1.1382 and R1 1.1461. As the pair is trading under its 20-period and 50-period EMA daily moving averages, there should be a range trading between 1.1450 and 1.1300, favoring the downside.

GBP/USD Forecast

British Pound strengthened the previous week over favorable news regarding Brexit. Is it likely to continue the bullish momentum in the coming week?

GBP/USD

Weekly Support & Resistance Levels:

Support

Resistance

1.2707

1.3021

1.2585

1.3212

1.2272

1.3525

  • Key Trading Level: 1.2899

We estimate that the recent move was a result of positive sentiment over Brexit news; no fundamental event to support it and profit taking should result in a trading range between 1.30 and 1.28 favoring the downside. On Friday, Nov. 9, 2018, the GDP Growth Rate for the third quarter is a key economic event with expectations for an increase for the yearly figure at 1.5% vs. 1.2% previous figure and 0.6% vs. 0.4% previous figure for the quarter.

AUD/USD Forecast

Weekly Support & Resistance Levels

Support

Resistance

0.703

0.7138

0.6971

0.7188

0.6863

0.7297

  • Key Trading Level: 0.708

We anticipate no change to be made at the latest Reserve Bank of Australia monetary policy decision on Tuesday, Nov. 6, 2018, keeping the key interest rate unchanged at 1.50%. A trading range of 0.72–0.70 should hold, favoring the downside as the pair is trading below its 20-period and 50-period EMA daily moving averages.

AUD/USD

How about the situation on the US stock market?

Keep an eye out for the midterm elections, an interest rate decision from the Fed, and earnings from big names like Disney and Marriott.

Apple Stock

On Thursday, Nov. 1, 2018, Apple (NASDAQ: AAPL) released its earnings for its fiscal fourth quarter, and these were the actual vs. forecasts:

  • Earnings: $2.91 per share vs. $2.78, forecast by Refinitiv consensus estimates

  • Revenue: $62.9 bln vs. $61.57 bln, forecast by Refinitiv consensus estimates

  • iPhone sales: 46.89 mln vs. 47.5 mln, forecast by FactSet and StreetAccount estimates

  • iPhone average selling price (ASP): $793 vs. $750.78, forecast by FactSet and StreetAccount estimates

Despite a beat on both earnings and revenues, shares of Apple fell more than seven percent — falling below its historic $1 trillion market cap following the release closing at $207.48 on Friday, Nov. 2, 2018.

Although the stock is now trading below its 20-period and 50-period EMA daily averages, a price near the $200 psychological level should provide a bounce towards the recent $233.47 52-week high price a buying opportunity.

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📈 Pricewise Daniel Osten

Bulls Fail to Secure Bitcoin Price Above $11,000; More Time Needed to Break Through

Pricewise
The irresistible line: bulls fail to break Bitcoin's critical resistance for the second time. Reinforcements are needed to finish the job.
Bulls Fail to Secure Bitcoin Price Above $11,000; More Time Needed to Break Through
Contents

The last 24 hours were as full of exciting events and extreme emotions as an action-packed thriller. His Majesty Bitcoin, accompanied by his altcoin army, attempted to storm the important resistance level for the second time this week, reached $11,070, but unable to get a foothold, was thrown back to its former position. As a result, total market capitalization fell back to Tuesday’s level and is now $445 bln, while Bitcoin dominance reached 40 percent. There are no fundamental reasons for yet another unsuccessful attempt at breaking the exasperating boundary of the descending channel, and the news cycle remains neutral or even positive. But from the point of view of technical analysis, the situation can be logically explained, which is what we will discuss today.

Correlation between Bitcoin and altcoin prices remains strong

Cowardly altcoins, as usual, reacted sensitively to the weakness of Bitcoin buyers and on Thursday we will observe a red colored market. Ethereum is holding up better than the rest, with a decrease of three percent while Bitcoin lost 3.7 percent. The worst off is NEO, with a loss of 12 percent and trading around $125. And don’t say we didn’t warn you, this decline target was described in detail in the Feb. 27 price review. Between the most resistant and the most impressionable asset are the rest of the coins, having lost from five to eight percent on average.

BTC/USD

After breaking through the resistance formed by the convergence of the ascending and descending channels at $10,900, Bitcoin buyers needed to secure the price above $11,000. However, fear and a lack of faith in their own strength led investors to take only a modest profit. In our opinion, this situation could have been avoided, had buyers gathered some strength before the final push. In this case, the rush played a cruel joke on the bulls.

Picture 1

At the time of writing, Bitcoin price is $10,350, and so far nothing critical has happened. The decline was stopped at the boundary of the parallel channel and the 0.382 Fibonacci retracement to the growth wave from Feb. 11. The important mark is $10,000; it’s very undesirable to descend any lower because it corresponds with the mirror support-resistance level and the second largest accumulation zone since the end of January. In case of breaking through it, there is hope for the $9,700-$9,800 range which leans on the lower boundary of the ascending channel and the 0.5 value of the same retracement. Horizontal trading near the current price looks not only acceptable but desirable for the ultimate break through the resistance. At the moment, the scenario of further growth remains in force, but we urge readers to keep a close eye on the indicated support levels.

ETH/USD

Compared to the other altcoins, Ethereum is doing well. The current price is $850, so investors have a $30 leeway before an important support level. Moreover, for now, ETH even continues to move in the ascending channel, although it would be imprudent to pin any high hopes on it. The bulls’ objective of gaining a foothold above the nearest resistance level can be seen on the chart with the naked eye. As soon as they have a proper excuse (in the form of confident Bitcoin growth), the resistance will be decisively broken.

Picture 2

After that, the price will encounter the $900 level, coinciding with the 0.382 Fibonacci retracement, as well as the more global barrier in the form of the boundary of the long-term descending channel from Jan. 13. In the negative scenario, in addition to the already mentioned $820 support, we also take note of the $790 and $750 levels.

ETC/USD

Ethereum’s forefather, his namesake with the Classic prefix, is not doing quite so well. Judging by the speed of new block calculation, the Calisto airdrop can happen as early as March 2 rather than March 5 as previously thought. It’s alarming to see ETC price drop before the event.

Picture 3

Now the coin is trading near $32, which is below the fair price for the period from Nov. 2017. The nearest support is located at $30 and coincides not only with the psychologically important mark, but also (which, in terms of technical analysis, is more important) the boundary of the long-term mirror level, to which the price was previously sensitive. The next support is at $28. Despite the fact that Ethereum Classic has many more events coming up in the spring, we can’t exclude the possibility of a short-term price reduction after the airdrop. The readers’ trading decisions have to be based on investment objectives and points of entry into long positions.

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Darryn Pollock

HitBTC, OKEx, Binance and Huobi Lead in Trading Pair Stakes

When it comes to trading pairs, there is often a bit of prestige in having the biggest offerings, and HitBTC, Binance, OKEx, and Huobi are leading
HitBTC, OKEx, Binance and Huobi Lead in Trading Pair Stakes

 

A research into the top 10 cryptocurrency exchanges has revealed that four — Binance, OKEx, Huobi, and HitBTC — are leading the way in terms of offering trading pairs with HitBTC by and far the biggest offerer.

Trading pairs within exchanges describe trades between one type of cryptocurrency and another. It is indicative of just how many cryptocurrencies an exchange holds and how they can be traded. There is a lot more that can be read into it, both positive and negative, but it also shows a trend towards certain types of exchanges.

Four trading pair leaders

In order to have a high number of trading pairs, exchanges have to of course have a multitude of offerings in terms of different altcoins. These trading pairs can then expand exponentially.

HitBTC boasts as many as 795 trading pairs and this is because it has the largest number of altcoins. However, it has also faced criticism for listing a number of dubious and poor-quality altcoins for individuals to trade.

Binance has been in the news recently with the way in which it has been listing different altcoins and expanding its trading pair stable. It was criticized for its listing fees but has since said it will donate them to charity.

Binance, although adding 400 pairs in a year, does not even come close to HitBTC and is actually in third with 388.

The second spot belongs to OKEx, the major Hong Kong-based exchange, having 516 pairs on offer with Huobi coming in fourth with 281. Bibox is in fifth place with 191, but from there the rest of the top 10 exchanges all have under 100 trading pairs.

Trading pair leaders

 

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📈 Pricewise George Shnurenko

Bulls Seem to Take Control Over Market; BTC, LTC, XMR, NEO Move Together

Pricewise
The trend will become more clear today, as some currencies test, and others re-test downside trend lines
Bulls Seem to Take Control Over Market; BTC, LTC, XMR, NEO Move Together
Contents

Bitcoin, Litecoin, Monero and NEO seem to make peace with each other as they begin moving in the same direction. It is hard to say now whether we are seeing a deep correction or a complete reversal. The situation will be clear within the next several hours as some of the reviewed currencies test their downside trend lines while the others re-test them already.

BTC/USD

D:\Пробы пера\sergeytn\09.05\btc hourly 1.jpg

The currency pair changed its direction today as we had expected. There were two pin-bars within the support area ($9,000). There, the price reversed and bulls have finally taken the initiative in their hands. BTC/USD has broken through the resistance line ($9,200). The currency pair fluctuates higher at the time of writing.

Bitcoin has entered the Ichimoku cloud and stopped its upside tendency here for a while. There was another important event as BTC/USD crossed the downside trend line. The currency pair stays higher now. Bulls seem to change the global short and midterm scenario. We think that Bitcoin is likely to develop its upside tendency, but it needs a correction or a consolidation now. The closest target is the upper border of the Ichomoku cloud. However, in case of a correction, the price is likely to reach the support line ($9,200) or the lower border of the Ichimoku cloud.

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LTC/USD

D:\Пробы пера\sergeytn\09.05\ltc hourly 1.jpg

The currency pair follows BTC/USD but with lower volatility as usual. We have noted in today’s review that LTC/USD needs some kind of a correction, and we think it is developing now. The main difference with Bitcoin is that Litecoin is still below the downside trend line.

LTC/USD crossed the $154 area and moved towards the next resistance line ($159 area) which is still unbreakable. There was a Shooting Star recently, but the volatility is low and the price’s decline was insignificant.

What to expect from LTC/USD in the nearest hours? We think that it will make an attempt to test the resistance line and the downside trend line. If successful, Litecoin has an opportunity to change the global midterm scenario as it will break the downtrend. Otherwise, the price will likely fall towards the support area ($154).

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XMR/USD

D:\Пробы пера\sergeytn\09.05\xmr houtly 1.jpg

Bulls seem to dominate Monero market as the price went above the downside trend line and crossed the Ichimoku cloud as well. XMR/USD tests the downside trend line from the upper side and if it holds the bears’ pressure, there will be another confirmation of global midterm changes in XMR’s scenario. The downside trend line coincides here with the support area ($229).

XMR/USD may continue its upside momentum after this correction if the price will jump off the support line and the downside trend line. Otherwise, it may return below the trend line and bears will regain control over the market.

NEO/USD

D:\Пробы пера\sergeytn\09.05\neo hourly 1.jpg

The cryptocurrency follows other reviewed coins as it goes straight upwards. The price is testing the downside trend and the support line ($76 area). The results of those attempts are very important for future scenario as NEO/USD may either continue its upside momentum or reverse towards the $72 support line area.

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Wikicoin Cyril Gilson

How to Make Your Native Advertising Most Effective with U.Today

📚 Wikicoin
We could fix you a media cocktail with just the right mixture of ingredients. Pour, shake and serve!
How to Make Your Native Advertising Most Effective with U.Today
Contents

U.Today is one the most fast-growing media outlets in Blockchain and cryptocurrency industry today. 

U.Today offers not only advertising that consists of a variety of services, including native advertising, but also full PR support and promotion for your business among the Blockchain and cryptocurrency audience.

Contact us right now: [email protected] and get the most beneficial offer.

Our Services

Press Releases

You got this very special product you want to promote and you want to get the most for your money. With U.Today, there’s nothing easier.

Just click https://u.today/press-release/submit and fill out a simple form. It lets you select at your convenience the timing of publication which allows you to get maximal exposure. In just a few moments, you could upload your logo and all the information you think will appeal most to your prospective audience.

Our Press Releases section has a prominent position on the landing page so you can be certain our readers won’t skip it.

Sponsored stories

Of course, writing effective advertising texts is a special art that requires knowing some nuts and bolts of the trade. Also, we are all consumers ourselves and we know what it is like to be bombarded with advertising messages throughout the day.

We’re not waking up in the morning just wondering when the next press release is going to come. So you may need to get prepared to find that unique differentiator that makes your story more important than every other story coming. If that’s what you honestly lack don’t worry.

U.Today will help you find professionals with special competences who can make your story shine. They will lead you through all the snags and make sure to highlight all advantages of your product to your target audience.

Our best authors who focus on just what you consider special and distinctive about your business will write a full feature story starting from 400 words or, when needed, their series.

Our account managers will help you through the whole process, take your feedback and send you the story for final approval. All the details will be considered and accounted for, and if you got your own text as a basis for a rewrite, we’ll help you improve it to be most effective.

The resulting story will appear on the site in an appropriate section, marked as sponsored.

Native advertising articles

Of course, you can create a still more effective content using the approaches of native advertising, that is making your story newsworthy by its own merits as a part of larger trends important to your prospective customers.

By doing so, you will put the readers’ interests first as the content that you create is going to resonate with them much more fully and really have a much bigger impact.

Our staff is ready to help you do exactly that. We will conduct market research to fully observe the trends and problems facing your prospective customers.

Then our best-handpicked authors with an established reputation will write a 500-words or more featured story or a series and make your product a part of the solution.

Analytics and long reads

You don’t want to create something that’s relevant for a week and then drops off the map. So the analytics piece or a unique long read is probably what you need.

Our analytics will make a thorough study of the market and the niches where your business interests are presented.

Note that our journalists can make a difference by their professional skills of finding reputable sources, research studies, expert quotes or data to back up what you’re saying.

Other native advertising options

You may think that writing is not rocket science but in fact, thinking like a journalist is one of those things that’s kind of hard to teach, and a good story is close to impossible to write without this gut feeling.

Our staff is ready to help make your content the most effective by providing it with all professional tools of the trade. For example, good infographics can render complex hi-tech products in a simple visual manner, making it stick to mind.

Quizzes, games and other tools for creating the high-quality content can also be offered to highlight the better sides of your product.

Outsource your content creation

You may need to solve a bigger problem then preparing a story or its series, especially if you get a flow of information to be used in your product promotion.

We can help your PR department to create any number of materials of any complexity to be published in various media outlets across the globe, including the most respected ones, and in the social media.

Complex PR campaigns

The maximal impact could be achieved only by smart usage of various formats and media channels. We could fix you a cocktail with just the right mixture of nature advertising different ingredients. Pour, shake and serve!

Our team

U.Today is a close-knit team of professionals founded by editors with extensive experience in both high-quality journalism and the crypto industry.

Tens of our staff and contributors come from the US, Europe, Asia and all corners of the globe. They have covered all aspects of the industry and community and developed some very successful media projects.

Wikicoin
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🕵️‍ ICO Watch Joseph Young

What Coinbase’s Integration of ERC20 Means For Ethereum and ICO Standards

👁 ICO Watch
The support towards Ethereum’s ERC20 tokens by the largest brokerage in cryptocurrency could lead to spike in adoption.
What Coinbase’s Integration of ERC20 Means For Ethereum and ICO Standards
Contents

On March 27, as reported by CryptoComes, the world’s largest cryptocurrency wallet platform and brokerage Coinbase has announced its plans to integrate ERC20 tokens that are compatible with the Ethereum network.

What does this mean for Ethereum?

The ERC20 token standard of the Ethereum network has become the global standard for tokens sales and initial coin offerings (ICOs). While there exists competing platforms like China’s NEO, South Korea’s ICON and Russia’s Waves, Ethereum has consistently been the largest platform for ICOs to date.

The vast majority of multi-billion dollar ICOs like EOS have launched on top of the Ethereum network and it has also powered decentralized applications like CryptoKitties, that have recorded more user activity than most decentralized applications in the global cryptocurrency market.

Support not sufficient

But, despite the wave of interest in ICOs that has emerged over the past 12 months, tokens on the Ethereum network have not received sufficient support from existing cryptocurrency platforms, likely due to the strict regulations enforced by the US Securities and Exchange Commission (SEC).

Earlier in February, US SEC Chairman Jay Clayton stated that all ICOs he has seen to date are considered securities and that any token that directly benefits an organization is a security.

During a Senate hearing Clayton said:

I want to go back to separating ICOs and cryptocurrencies. ICOs that are securities offerings, we should regulate them like we regulate securities offerings. End of story.

The SEC also required cryptocurrency exchanges within the US to register with the SEC if it supports or lists ICO tokens. The statement of SEC released on March 7 read:

If a platform offers trading of digital assets that are securities and operates as an ‘exchange,’ as defined by the federal securities laws, then the platform must register with the SEC as a national securities exchange or be exempt from registration.

The statements of both SEC chairman Clayton and the SEC led the price of most tokens and Ethereum itself to fall, due to the regulatory uncertainty surrounding tokens. Businesses have also become more reluctant towards integrating tokens launched on top of the Ethereum network, due to the SEC’s increasing crackdown on ICOs.

Coinbase sets a precedent

Coinbase established a precedent by announcing its plans to integrate ICOs. It paved a path for other businesses to be compliant and integrate tokens by registering with the SEC. What once was a grey area for most cryptocurrency exchanges and platforms has gained regulatory certainty and clarity, due to the bold, and perhaps expensive, decision of Coinbase to become one of the first compliant exchanges within the US to integrate ICOs.

“This paves the way for supporting ERC20 assets across Coinbase products in the future, though we aren’t announcing support for any specific assets or features at this time. We are announcing this both internally and to the public as consistent with our process for adding new assets,” the Coinbase team explained.

It has also been acknowledged by experts including Cornell professor Emin Gun Sirer that the vast majority of ICOs are illegitimate or scams.

I don't get all the self-styled pundits first doing ICOs then bashing them. Most ICOs are crap, but the ICO mechanism is useful for bootstrapping new projects, raising funding, and generally deploying new tech. Why can't we have a reasonable non-extreme opinion? https://t.co/PiQOl3mVUD

— Emin Gün Sirer (@el33th4xor) March 27, 2018

The increase in support towards tokens would lead to the creation of a better ecosystem. It sheds light on ICOs that are actually utilizing a decentralized Blockchain network in Ethereum to provide an infrastructure for or develop decentralized applications and maximize the potential of Blockchain technology.

🕵️‍ ICO Watch
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