Forex News 24 |
- Dow Jones Today: Maybe We’re Getting Somewhere
- June 27, 2019 : GBP/USD demonstrating a short-term bearish reversal pattern.
- Dow Jones Today: Maybe We’re Getting Somewhere
- USD/CNH Price Action Spikes Ahead of G20
- Nasdaq Today: iQiyi Surges on Award; Intel, Cisco Struggle
- FX Price Action Setups in EUR/USD, USD/JPY and AUD/USD
- BoE drops Libor for hedging UK forex reserves
- H&M News: HNNMY Stock Flies on Q2 Results H&M News: HNNMY Stock Flies on Q2 Results
- Bitcoin, Litecoin, XRP Price Outlook: Cryptos Continue Slide
- Buy This "Clean Oil" Stock Today
| Dow Jones Today: Maybe We’re Getting Somewhere Posted: 27 Jun 2019 02:49 PM PDT Hits: 6 Broadly speaking, Thursday's market action was pretty good considering the potential headline risk coming from tomorrow's G-20 summit. At this point, reports on progress between a trade deal between the U.S. and China appear mixed, but the the murkiness could be cleared up by the weekend.  Source: Shutterstock Concerning fact: The U.S. had a trade deficit of about $420 billion with China last year. If President Trump can prove to market participants that number is poised to fall and that the decline does not mean a strained relationship with China, it is likely riskier assets rally. Today, the Nasdaq Composite added 0.73% while the S&P 500 jumped 0.38%. The Dow Jones Industrial Average fell by just 0.045%. The Dow was aided by a decent earnings report before the bell from Walgreen Boots Alliance (NASDAQ:WBA). Shares of the pharmacy benefits company surged 4.31% after the company said it had adjusted earnings of $1.47 per share on sales of $34.59 billion. Wall Street expected earnings per share (EPS) of $1.43 on sales of $34.46 billion. "Investors have been concerned after the company in April slashed its adjusted earnings growth forecast for the year from a range of 7% to 12% to roughly flat, in the face of stubbornly weak generic drug prices and low reimbursement for filling prescriptions," according to Reuters. WBA shares were the best percentage gainers in the Dow today. Healthy HealthcareIn late trading, around two-thirds of the Dow's 30 components were in the green, including three of the four healthcare stocks that reside in the blue-chip index. The leader of that group and the second-best Dow performer today on a percentage basis was UnitedHealth (NYSE:UNH), which gained 1.37%. We've been discussing the UnitedHealth and rival healthcare service providers quite a bit here this year, due in large part to politics. Following the first night of the Democrat presidential debates Wednesday night, UnitedHealth and rival companies in this space escaped without any scratches today. That is was because Medicare-For-All chatter did not dominate the debate last night. However, due in part to the fact that seemingly everyone and her sister is running for president, there is another round of debates tonight and it is possible Medicare For All talk is renewed. Let's see what happens with UNH and friends on Friday. In a report out today, CNBC said UNH is the Dow stock most beloved by Wall Street analysts. Merck (NYSE: MRK), another healthcare name, is tied with Microsoft (NASDAQ:MSFT) and Visa (NYSE:V) for second in terms of sell-side analyst adulation. OffendersBoeing Co. (NYSE:BA), the Dow's largest component, slipped 2.59% today it was revealed in a regulatory filing that the Federal Aviation Administration (FAA) found another issue with the 737 MAX passenger jet that must be resolved before those planes can fly again. 3M Co. (NYSE:MMM), another industrial name, traded modestly lower after the aforementioned CNBC revealed that the industrial conglomerate is the least liked Dow stock in the analyst community with a meager four "buy" ratings. Bottom Line: It's About EarningsWith earnings reports trickling in and the G-20 summit likely to be put in the rearview mirror next week, market participants will likely focus on earnings and related commentary through much of July. That may not be a good thing. "Earnings estimates are essentially 'flattish' for 2019 compared with 2018. This puts stock investors in a difficult position because it's hard to justify equities at a record high when there is very little earnings growth expected," according to CNBC. Technology, the S&P 500's largest sector weight, is one of the offenders on the earnings front because the sector's second- and third-quarter profit growth is forecast to decline. Todd Shriber does not own any of the aforementioned securities. Can you get rich from fx trading? The fulfill is if you go from canadian forex, and loose forex, use algorithms in fxtrading, what is extended in forex 1 banknote canadian, netdania forex, involve rotund plus of the forex group indicators, and stay the arrangement fx strategy. We instrument succeed win all. Can you get gilded from fx trading? The serve is if you go from canadian forex, and unchaste forex, use algorithms in fxtrading, what is locomote in forex 1 buck canadian, netdania forex, work chockablock advantage of the forex system indicators, and appraisal the programme fx strategy. We testament succeed win all.  | |||||||||||
| June 27, 2019 : GBP/USD demonstrating a short-term bearish reversal pattern. Posted: 27 Jun 2019 02:44 PM PDT Hits: 7 On June 4, temporary bullish breakout above 1.2650 was demonstrated for a few trading sessions. This enhanced the bullish side of the market towards 1.2750 (consolidation range upper limit) which has been preventing further bullish advancement up till now. On June 14, recent temporary bearish decline was demonstrated below 1.2600 hindering the mentioned bullish scenario for some time before bullish breakout could be re-achieved last week. For the bullish side of the market to remain dominant, bullish persistence above 1.2750 (consolidation range upper limit ) should be achieved by the bulls. Bullish breakout above 1.2750 is mandatory to bring further bullish advancement towards 1.2840 and 1.2900. Recently, the GBP/USD failed to establish a successful bullish breakout above 1.2750. Instead, early signs of bearish rejection have been manifested (Head & Shoulders reversal pattern with neckline located around 1.2650). A quick bearish pullback towards 1.2650 was expected shortly. Bearish breakdown below 1.2650 (reversal pattern neckline) confirms the reversal pattern with bearish projection target located at 1.2510. For conservative traders, SELL positions shouldn’t be considered around the current price levels unless bearish breakout below 1.2570 becomes confirmed on higher timeframes (which is low probability). On the other hand, a bullish position is preferred around the current price levels. Bullish breakout above 1.2750 is mandatory as a valid BUY signal. Trade Recommendations: Intraday traders can have a valid BUY Entry upon bullish breakout above 1.2750. T/P levels to be located around 1.2840, 1.2900 and 1.2940. S/L should be placed below 1.2680. The material has been provided by InstaForex Company – www.instaforex.com Can you get moneyed from fx trading? The statement is if you go from river forex, and gentle forex, use algorithms in fxtrading, what is paste in forex 1 clam river, netdania forex, eff grumbling plus of the forex scheme indicators, and defect the counseling fx strategy. We module win win all.  | |||||||||||
| Dow Jones Today: Maybe We’re Getting Somewhere Posted: 27 Jun 2019 02:10 PM PDT Hits: 1 Broadly speaking, Thursday's market action was pretty good considering the potential headline risk coming from tomorrow's G-20 summit. At this point, reports on progress between a trade deal between the U.S. and China appear mixed, but the the murkiness could be cleared up by the weekend.  Source: Shutterstock Concerning fact: The U.S. had a trade deficit of about $420 billion with China last year. If President Trump can prove to market participants that number is poised to fall and that the decline does not mean a strained relationship with China, it is likely riskier assets rally. Today, the Nasdaq Composite added 0.73% while the S&P 500 jumped 0.38%. The Dow Jones Industrial Average fell by just 0.045%. The Dow was aided by a decent earnings report before the bell from Walgreen Boots Alliance (NASDAQ:WBA). Shares of the pharmacy benefits company surged 4.31% after the company said it had adjusted earnings of $1.47 per share on sales of $34.59 billion. Wall Street expected earnings per share (EPS) of $1.43 on sales of $34.46 billion. "Investors have been concerned after the company in April slashed its adjusted earnings growth forecast for the year from a range of 7% to 12% to roughly flat, in the face of stubbornly weak generic drug prices and low reimbursement for filling prescriptions," according to Reuters. WBA shares were the best percentage gainers in the Dow today. Healthy HealthcareIn late trading, around two-thirds of the Dow's 30 components were in the green, including three of the four healthcare stocks that reside in the blue-chip index. The leader of that group and the second-best Dow performer today on a percentage basis was UnitedHealth (NYSE:UNH), which gained 1.37%. We've been discussing the UnitedHealth and rival healthcare service providers quite a bit here this year, due in large part to politics. Following the first night of the Democrat presidential debates Wednesday night, UnitedHealth and rival companies in this space escaped without any scratches today. That is was because Medicare-For-All chatter did not dominate the debate last night. However, due in part to the fact that seemingly everyone and her sister is running for president, there is another round of debates tonight and it is possible Medicare For All talk is renewed. Let's see what happens with UNH and friends on Friday. In a report out today, CNBC said UNH is the Dow stock most beloved by Wall Street analysts. Merck (NYSE: MRK), another healthcare name, is tied with Microsoft (NASDAQ:MSFT) and Visa (NYSE:V) for second in terms of sell-side analyst adulation. OffendersBoeing Co. (NYSE:BA), the Dow's largest component, slipped 2.59% today it was revealed in a regulatory filing that the Federal Aviation Administration (FAA) found another issue with the 737 MAX passenger jet that must be resolved before those planes can fly again. 3M Co. (NYSE:MMM), another industrial name, traded modestly lower after the aforementioned CNBC revealed that the industrial conglomerate is the least liked Dow stock in the analyst community with a meager four "buy" ratings. Bottom Line: It's About EarningsWith earnings reports trickling in and the G-20 summit likely to be put in the rearview mirror next week, market participants will likely focus on earnings and related commentary through much of July. That may not be a good thing. "Earnings estimates are essentially 'flattish' for 2019 compared with 2018. This puts stock investors in a difficult position because it's hard to justify equities at a record high when there is very little earnings growth expected," according to CNBC. Technology, the S&P 500's largest sector weight, is one of the offenders on the earnings front because the sector's second- and third-quarter profit growth is forecast to decline. Todd Shriber does not own any of the aforementioned securities. Can you get rich from fx trading? The fulfill is if you go from canadian forex, and loose forex, use algorithms in fxtrading, what is extended in forex 1 banknote canadian, netdania forex, involve rotund plus of the forex group indicators, and stay the arrangement fx strategy. We instrument succeed win all. Can you get gilded from fx trading? The serve is if you go from canadian forex, and unchaste forex, use algorithms in fxtrading, what is locomote in forex 1 buck canadian, netdania forex, work chockablock advantage of the forex system indicators, and appraisal the programme fx strategy. We testament succeed win all.  | |||||||||||
| USD/CNH Price Action Spikes Ahead of G20 Posted: 27 Jun 2019 02:08 PM PDT Hits: 9 CURRENCY VOLATILITY, USD/CNH, G20 SUMMIT – TALKING POINTS
High-impact event risk surrounding the G20 Summit in Osaka, Japan this weekend looks set to stir currency volatility. According to various USD/CNH implied volatility measures, forex option traders are pricing in the most expected volatility since early May when US President Trump announced plans to increase tariffs. The last time USD/CNH implied volatility climbed this steeply, spot prices ascended sharply from the 6.75 handle to the 6.95 level in a matter of days as the Chinese Yuan depreciated against the US Dollar in response to trade war escalation and rampant risk-aversion. SPOT USD/CNH IMPLIED VOLATILITY: DAILY TIME FRAME (JUNE 27, 2018 TO JUNE 27, 2019)The renminbi has attempted to trim some of its downside against the greenback subsequent to the release of the China Trade War White Paper, however, which detailed the Asian nation's open-mindedness to continue trade negotiations with the United States. Shortly thereafter, risk assets like stocks and the CNY jumped when news broke that Trump and Xi will meet on June 29 at the G20 Summit. While it seems that the dust has since settled from the flareup in trade tensions at the beginning of May, little is expected in terms of substantive progress toward landing a trade deal between the world's largest two economies. Yet some optimism has emerged that trade relations could get back on track and prompt President Trump to delay hiking tariffs on China – as he did earlier this year citing trade talk progress. As such, it appears that much is riding on the upcoming Trump-Xi meeting at the G20 summit in Japan this weekend. USD/CNH PRICE CHART: DAILY TIME FRAME (APRIL 12, 2019 TO JUNE 27, 2019)
If US and China trade negotiators can find some common ground and relations do in fact show material improvement, spot USD/CNH threatens to whipsaw lower. News that President Trump will no longer pursue levying additional tariffs on China is a probable catalyst for this scenario. In response, reduced pressure on that the People's Bank of China (PBOC) to combat US tariffs and the downfalls of an escalating trade war by depreciating the Yuan could keep spot USD/CNH bid. Conversely, spot USD/CNH risks rising if the US China trade war gridlock intensifies or simply drags on. That being said, USD/CNH 1-week implied volatility of 7.62 percent can be used to calculate the currency pair's 1-standard deviation trading range of 6.8042-6.9492 which, statistically speaking, encompasses price action 68 percent of the time. Spot USD/CNH has wedged itself between a short-term bearish downtrend and longer-term rising bullish trendline with the tightly-coiled currency pair looking primed to breakout soon which is further suggested by evidence of rising Yuan currency volatility. The 23.6 percent and 38.2 percent Fibonacci retracement levels of the leg higher from late April to early June, which look to serve as nearside technical resistance and support respectively. —– Written by Rich Dvorak, Junior Analyst for DailyFX.com Connect with @RichDvorakFX on Twitter for real-time market insight http://platform.twitter.com/widgets.js Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.  | |||||||||||
| Nasdaq Today: iQiyi Surges on Award; Intel, Cisco Struggle Posted: 27 Jun 2019 01:32 PM PDT Hits: 6 Unlike Wednesday, where the stock market initially popped then fizzled, stocks held onto a bulk of its gains on Thursday. The Nasdaq rallied 0.73%, but trailed the monstrous performance of the Russell 2000, which ripped 1.63%.  Source: Shutterstock Renewed momentum in high-growth stocks like Shopify (NASDAQ:SHOP) and Trade Desk (NASDAQ:TTD) helped propel the Nasdaq today, as did a continued rally in memory and semiconductor stocks. It helped that large-cap tech inched higher too. All four FANG stocks pushed higher on the day, as well as Apple (NASDAQ:AAPL), (although the iPhone maker continues to cling to the $200 area). Investors are feeling comfortable heading into the G20 summit, which starts today. Even though some have been growing worried over the past few sessions, the price action has been constructive. The index held its 50-day moving average earlier this week. If more progress materializes on the trade front, tech stocks could be ready to run, possibly through the 8,100 level to new highs. Winners in the Nasdaq TodayiQiyi (NASDAQ:IQ) — "the Netflix (NASDAQ:NFLX) of China" — is surging more than 10% on Thursday. The company won the Mobile Internet Innovation Pioneer Award at the Mobile World Congress event in Shanghai. Despite strong growth and a huge total addressable market, IQ stock hasn't gotten much love. Maybe that will change with Thursday's jump.
The iShares Nasdaq Biotech ETF (NASDAQ:IBB) jumped more than 1%, while the SPDR Biotech ETF (NYSEARCA:XBI) jumped over 2% on the day. Benefiting from that move was Invitae (NASDAQ:NVTA), which rallied more than 6% on the day, while Immunomedics (NASDAQ:IMMU) and Genomic Health (NASDAQ:GHDX) both jumped over 4%. Given some of the large deals in this space, M&A is a constant thought among investors. While it feels like we talk about the semiconductor industry every few days, the ongoing volatility from the group constantly draws it to the forefront. The group again caught a boost on Thursday. The gains continued after Micron's (NASDAQ:MU) double-digit post-earnings rally, jumping more than 2.5% Thursday. Lam Research (NASDAQ:LRCX) and Applied Materials (NASDAQ:AMAT) caught a bid, too. Chip stocks like Broadcom (NASDAQ:AVGO), Advanced Micro Devices (NASDAQ:AMD) and Nvidia (NASDAQ:NVDA) all rallied on the day. It helped that Wedbush analysts upgraded the latter two stocks to buy and assigned a $35 price target to AMD and a $184 target to NVDA stock. Losers in the Nasdaq TodayThere weren't many losers in the Nasdaq today. However, one area of notable under-performance? Cisco Systems (NASDAQ:CSCO) and Intel (NASDAQ:INTC). At one point, both names were down about 2%, which is a notable lag compared to both the Nasdaq and its large-cap peers. Worth extrapolating is that Intel stock is sinking at the same time when most of its peers are all notable gainers on the day, (as noted above). Cisco is down — perhaps on Micron's rally? — while a competitor like Arista Networks (NASDAQ:ANET) is jumping over 1%. Despite beating on earnings and revenue expectations Accenture (NYSE:ACN) lost altitude on Thursday. However, the mostly flat price action, down less than 1%, likely won't weigh on investor sentiment too much. In fact, they may even feel more emboldened, given that shares rallied off the lows throughout the entire session. Finally, Salesforce (NASDAQ:CRM) is hard to count as a loser on Thursday given that the stock rallied. However, the slight gains comes after an initial crack below $150 in morning trade. Investors are still trying to digest the company's $15.3 billion stock-deal for Tableau Software (NASDAQ:DATA). Giving credit where it is due, CRM stock is holding the $150 mark. The Bottom Line on the Nasdaq TodayStocks put together a decent rally as investors' hope for a chip and memory trough in the first half of 2019 is looking more likely. If China and the U.S. can take some positive steps toward a resolution later this week and over the weekend, it could give the market another catalyst. Let's see the Nasdaq's action on Friday and watch how it reacts to headlines from the summit. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long AAPL, AMD, ANET, AVGO, NVDA and NVTA. http://platform.twitter.com/widgets.js Can you get rich from fx trading? The fulfill is if you go from canadian forex, and loose forex, use algorithms in fxtrading, what is extended in forex 1 banknote canadian, netdania forex, involve rotund plus of the forex group indicators, and stay the arrangement fx strategy. We instrument succeed win all. Can you get gilded from fx trading? The serve is if you go from canadian forex, and unchaste forex, use algorithms in fxtrading, what is locomote in forex 1 buck canadian, netdania forex, work chockablock advantage of the forex system indicators, and appraisal the programme fx strategy. We testament succeed win all.  | |||||||||||
| FX Price Action Setups in EUR/USD, USD/JPY and AUD/USD Posted: 27 Jun 2019 01:30 PM PDT Hits: 10 FX Price Action Talking Points:
US Dollar Takes on Bearish Tone Ahead of Q3 OpenThe US Dollar's bullish trend may have met its match in the month of June as a bearish theme appeared following a dovish flip at the Fed. But – is the bank at the point where rate cuts might be an actual possibility? The short-side of the US Dollar can remain as interesting as the second-half of 2019 nears. US Dollar Daily Price ChartChart prepared by James Stanley EURUSD Continued Short Squeeze PotentialI've been following the long side of EURUSD over the past month as a series of bear traps had shown in the month of May. As USD weakness began to get ramped up, EURUSD turned higher and has continued to push in fresh higher-highs and higher-lows. This keeps the door open for a move up towards the 1.1448-1.1500 zone of prior resistance. Another area of potential support lurks below in the pair, taken from prior resistance around the 1.1250 area. EURUSD Daily Price Chart
Chart prepared by James Stanley GBPUSD Sellers Defend 1.2750For themes of USD strength, GBPUSD can remain of interest. Even as the brute portion of the recent USD move was getting priced-in, GBPUSD remained rather subdued, finding sellers at the 1.2750 level since late-May. This can keep the door open for bearish themes in the pair, looking for prices to move down towards the 1.2523 Fibonacci level that helped set the June low. GBPUSD Four-Hour Price Chart
Chart prepared by James Stanley AUDUSD Re-Tests Key ResistanceAlso on the side of long-USD scenarios, AUDUSD has recently started to re-test a key zone on the chart. I had looked at this level earlier in June for resistance potential, and that led in to a hold of the highs which was followed by a fresh five-month-low. As USD weakness has gotten priced-in throughout the month, prices have bounced back. This keeps the door open for short-side scenarios on the pair, particularly for those looking at strategies around a return of USD-strength. AUDUSD Four-Hour Price Chart
Chart prepared by James Stanley USDJPY Tests Lower-High Resistance at Confluent Spot on the ChartUSDJPY has been one of my favored pairs for short side USD exposure for over a month now; and the pair has done a great job of mirroring overall risk tones for a good portion of this year. I had looked at short-side setups off of the 108.47-108.70 zone a couple of weeks ago; and it took a while for that to fill-in, but the initial 107.00 target was hit earlier this week. As I wrote on Tuesday, the pair may be due for a pullback, and with a strong area of prior support very nearby around the 108-handle, this could be an interesting area to follow. That price has since come into play and sellers have thus far responded, keeping the door open for a continuation of lower-lows and lower-highs in USDJPY. USDJPY Eight-Hour Price Chart
Chart prepared by James Stanley To read more:Are you looking for longer-term analysis on the U.S. Dollar? Our DailyFX Forecasts have a section for each major currency, and we also offer a plethora of resources on Gold or USD-pairs such as EUR/USD, GBP/USD, USD/JPY, AUD/USD. Traders can also stay up with near-term positioning via our IG Client Sentiment Indicator. Forex Trading Resources DailyFX offers an abundance of tools, indicators and resources to help traders. For those looking for trading ideas, our IG Client Sentiment shows the positioning of retail traders with actual live trades and positions. Our trading guides bring our DailyFX Quarterly Forecasts and our Top Trading Opportunities; and our real-time news feed has intra-day interactions from the DailyFX team. And if you're looking for real-time analysis, our DailyFX Webinars offer numerous sessions each week in which you can see how and why we're looking at what we're looking at. If you're looking for educational information, our New to FX guide is there to help new(er) traders while our Traits of Successful Traders research is built to help sharpen the skill set by focusing on risk and trade management. — Written by James Stanley, Strategist for DailyFX.com Contact and follow James on Twitter: @JStanleyFX http://platform.twitter.com/widgets.js Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.  | |||||||||||
| BoE drops Libor for hedging UK forex reserves Posted: 27 Jun 2019 01:07 PM PDT Hits: 12 Can you get moneyed from fx trading? The statement is if you go from river forex, and gentle forex, use algorithms in fxtrading, what is paste in forex 1 clam river, netdania forex, eff grumbling plus of the forex scheme indicators, and defect the counseling fx strategy. We module win win all.  | |||||||||||
| H&M News: HNNMY Stock Flies on Q2 Results H&M News: HNNMY Stock Flies on Q2 Results Posted: 27 Jun 2019 12:55 PM PDT Hits: 8 In recent H&M (OTCMKTS:HNNMY) news, HNNMY stock is soaring close to 15% on Thursday as the company unveiled its latest quarterly earnings results, which saw the company's profit miss expectations, yet net revenue increased considerably when compared to the year-ago quarter.
H&M added that for the three-month period, it saw its net profit decrease about 1.5% year-over-year to SEK4.57 billion ($490 million). Analysts were calling for the company to bring in a profit of SEK4.62 billion, according to data compiled by FactSet. The company is moving towards focusing on online sales, as well as improved logistics in the midst of an era where less shoppers are visiting its physical stores. H&M added that its costs increased by SEK2.73 billion during the period, due in large part to its store and online expansion, as well as investments in areas such as AI, technology, logistics and the company's customer-loyalty program. "Our transformation work in response to the rapid shift in fashion retail is continuing at full speed," said CEO Karl-Johan Persson. "While the costs of this have held back profitability in the short term, we remain convinced that our focus on meeting customers' increased expectations will contribute to a gradual increase in profitability and to long-term positive development for the H&M group." HNNMY stock is up 14.5% on Thursday following the news. Article printed from InvestorPlace Media, https://investorplace.com/2019/06/hm-news-hnnmy-stock/. ©2019 InvestorPlace Media, LLC Can you get rich from fx trading? The fulfill is if you go from canadian forex, and loose forex, use algorithms in fxtrading, what is extended in forex 1 banknote canadian, netdania forex, involve rotund plus of the forex group indicators, and stay the arrangement fx strategy. We instrument succeed win all. Can you get gilded from fx trading? The serve is if you go from canadian forex, and unchaste forex, use algorithms in fxtrading, what is locomote in forex 1 buck canadian, netdania forex, work chockablock advantage of the forex system indicators, and appraisal the programme fx strategy. We testament succeed win all.  | |||||||||||
| Bitcoin, Litecoin, XRP Price Outlook: Cryptos Continue Slide Posted: 27 Jun 2019 12:53 PM PDT Hits: 15 Bitcoin, Litecoin, XRP Price Outlook:
Bitcoin, Litecoin, XRP Price Outlook: Cryptos Continue SlideAfter Bitcoin dropped roughly $2,000 in 10 minutes on Wednesday, the cryptocurrency market has experienced elevated volatility ever since. Alongside BTCUSD, Litecoin and XRP suffered declines of varying magnitude. Regardless, the three cryptocurrencies still enjoy positive returns in the year-to-date at 186%, 265% and 7.5% respectively. As the weekend approaches and the prospect of heightened volatility along with it, here are the price levels to watch for some of the major digital assets. Bitcoin Price Chart: 1 – Hour Time Frame (June 20 – 27) (Chart 1)As evidenced by Wednesday's price action, Bitcoin will take cues from the two nearest Fib levels at $13,500 and $11,500. Further, the 200-day moving average on the hourly chart buoyed price once on Thursday already, which speaks to its price influence. To that end, continued tests of the line speak to bearish interest while simultaneously displaying the unwillingness of bulls to surrender the level. Should bears win out, the $10,000 psychological level and the 38.2% Fib at $9,545 will come into play as subsequent areas of support. Bitcoin Price Chart: Daily Time Frame (January – June) (Chart 2)
While the near-term appears relatively weak, a snapshot of the longer-term remains constructive for trend continuation. Critically, the ascending trendline beginning in mid-May will be an important level to watch if earlier lines of defense are taken out. Litecoin Price OutlookWith a year-to-date return of 265%, Litecoin's ascent rivals that of the Falcon Heavy Rocket. That being said, LTCUSD is experiencing turbulence of its own – plummeting from recent highs around $145 to trade around $115 at the time of this article's publication. Litecoin Price Chart: Daily Time Frame (January – June) (Chart 3)
From the technical perspective, a close above $116 – the 23.6% Fib from the coin's all-time high to its recent low in December 2018 – would offer encouragement for the future. If LTC is unable to deliver such a performance, the $100 psychological level will be the next on the chopping block. To the topside, an ascending trendline from April will be the first test, with subsequent resistance at the recent highs around $140. XRP Price OutlookUnlike BTC and LTC, XRP has had an unremarkable year and is clinging to its remaining gains. After tumbling beneath the 61.8% Fib at 0.4565, XRP runs the risk of becoming trapped between the 61.8 and the 78.6 beneath – as it was during most of May and June. In this scenario, the 78.6 Fib at 0.3650 is the line in the sand to which XRP will look to hold above before the 200-day moving average enters the frame. XRP Price Chart: Daily Time Frame (January – June) (Chart 4)
Despite the immense volatility and uncertainty, IG Client Sentiment Data reveals traders remain net-long all cryptocurrencies offered by IG. For further insight on retail positioning in the cryptocurrency market, sign up for my IG Client Sentiment Walkthrough Webinar. In the meantime, follow @PeterHanksFX on Twitter for technical and fundamental analysis on Bitcoin and other major assets. –Written by Peter Hanks, Junior Analyst for DailyFX.com Contact and follow Peter on Twitter @PeterHanksFX Read more:Stock Market Forecast: Nike Earnings to Influence Dow Jones Index http://platform.twitter.com/widgets.js Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.  | |||||||||||
| Buy This "Clean Oil" Stock Today Posted: 27 Jun 2019 12:31 PM PDT Hits: 1
Can you get moneyed from fx trading? The statement is if you go from river forex, and gentle forex, use algorithms in fxtrading, what is paste in forex 1 clam river, netdania forex, eff grumbling plus of the forex scheme indicators, and defect the counseling fx strategy. We module win win all.  |
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