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Alexander Kuptsikevich

FxPro Forex Analysis: Bitcoin – A Good Opportunity to Buy or the Last Chance to Sell?

The cryptocurrency market capitalisation has lost over $100 billion over the past week, with leading cryptocurrencies falling over 13% in the last 24 hours alone. What has played a major part in this decline is regulator pressure, as well as the high sell volumes on the CBOE and CME futures markets. Bitcoin’s bulls support that investors should remain calm and hold on to Bitcoin, yet it is worth remembering that there are ordinary investors that bought the currency when its price was twice as ...

The FxPro Analyst Team

FxPro Forex Analysis: BTCUSD and LTCUSD Analysis – March 29, 2018

The total market capitalisation of cryptocurrencies dropped below $282bn, as broad-based selling saw major digital currencies reach multi-month lows. The vice governor of the People’s Bank of China (PBOC) has commented that they will launch a crackdown on cryptocurrencies this year. Also, it is reported that two Japanese cryptocurrency exchanges are set to cease operating, amid growing scrutiny from regulators after a $500 million theft. Bitcoin is trading below $8000 and Ethereum below $500. ...

The FxPro Analyst Team

FxPro Forex Analysis: USDCAD and AUDUSD Analysis – March 29, 2018

Canadian GDP will be released later today showing slight growth. The USDCAD pair has slipped into a sideways pattern below the area of the red trend line, shown here on the 4-hour chart. This trend line currently represents resistance and is located at the 1.29395. The 50-period MA is at 1.29148, with the 100-period below at 1.29010. The moving averages are playing a role, with the 100 and 200 both being used recently. The 200-period MA was used as support and created the low from the 27th at ...

The FxPro Analyst Team

UK Gross Domestic Product Expected to Be in Line with Consensus

At 09:00 GMT, German Unemployment Change (Mar) is expected to be -15K against the previous -22K. Unemployment Rate s.a. (Mar) is expected to be 5.3% against the previous 5.4%. This number is expected to slip further after falling last month. The previous reading came in at the highest level in more than ten years. EUR traders will be closely following this data release. At 09:30 GMT, UK Gross Domestic Product (YoY) (Q4) will be released and is expected to be unchanged from the previous ...

The FxPro Analyst Team

FxPro Forex Analysis: Volatility Picks Up as USD Strengthens into Quarter End

With US Personal Consumption Expenditures – Price Index on the way later today, as well as US Jobless data, traders will be watching the USD, which is showing strength as we approach the last trading days of March. USDJPY was up to 107.00 at one point overnight, helped by easing tensions with North Korea. Gold was down to a low of 1322.00 due to a strong USD. Stocks had a mixed day, with Europe flat or higher but the US markets remained down, especially the Nasdaq, which was 1.06% lower at the ...

Alexander Kuptsikevich

FxPro Forex Analysis: No Buyers for Bitcoin at $8,000

According to CoinMarketCap, Bitcoin failed to recover after experiencing a 6.5% drop on Tuesday, now trading below $8,000. It is very likely that a global risk-off sentiment in the markets continues to put pressure on cryptocurrencies. It is worth looking at how the market is likely to react, should BTC reach the recent low of $7,800 or February’s low of $6,300. What plays a major part in the cryptocurrency market is investor disappointment – new investors attracted to the market due to last ...

The FxPro Analyst Team

FxPro Forex Analysis: US WTI Oil and UK Brent Oil Analysis – March 28, 2018

Crude Oil prices declined on Wednesday, with West Texas Intermediate (WTI) trading below $65 and Brent back below $70 per barrel. The drop came in response to a surprise inventory build in the American Petroleum Institute (API) data released on Tuesday, that reported a 5.3-million-barrel rise in crude stocks. Last week, crude had seen an impressive recovery to two-month highs due to geopolitical risks, with speculation that the U.S. president and Saudi Arabia’s crown prince discussed the ...

The FxPro Analyst Team

FxPro Forex Analysis: GBPUSD and NASDAQ Index Analysis – March 28, 2018

The GBPUSD pair broke out of its broadening wedge pattern on the 13th of March and retested the trend line in Blue on the 16th, setting up a move higher to 1.42445. This level was tested twice on Monday, with the price falling back to the 1.40675 level. The pair moved higher yesterday, helped by news that the UK Government would be in contact with the EU regarding a new solution to avoiding a hard border on the island of Ireland. Price has backed off from the highs this morning to retest ...

The FxPro Analyst Team

US Gross Domestic Product Expected to Beat Consensus

At 13:30 GMT, US Gross Domestic Product Annualized (Q4) data will be out, with the headline number expected to be 2.7%, from a previous 2.5%. Gross Domestic Product Price Index (Q4) data is expected to remain unchanged at 2.3%. Also at this time, Core Personal Consumption Expenditures (QoQ) (Q4) is expected to be unchanged from the Q3 reading at 1.9%. Personal Consumption Expenditure Prices (QoQ) (Q4) is also expected to be unchanged at 2.7%. USD crosses may see moves, as traders take Dollar ...