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Weekly Elliott wave cryptocurrency forecast and analysis

Elliott wave BTCUSD analysis



The long-term downward double zigzag has been developing over the past one and a half years. The linking wave [X] finished not long ago, afterwards, there started developing the initial part of the descending wave [Y]. Let us study the structure of the last section in more detail in the H8 timeframe.



The initial part of the [Y] is developing as a leading diagonal that consists of five parts....

Source Feed: Forex blog: trading blog about Forex earning and investments
Categories: analysts-opinions

EURUSD reached Target Zone [1.1089 – 1.1073] last week, so the main scenario to sell in the short-term trend worked out

USCrude – oil 

Oil middle-term uptrend continues. The price is currently rising up form the trend key support at [53.77 - 53.40]. I recommend entering purchases this week.



It is clear from the short-term chart that the price is testing the resistance of the local downtrend [55.74 – 55.56] for the second time.

One might enter sell trades with a short target, to...

Source Feed: Forex blog: trading blog about Forex earning and investments
Categories: analysts-opinions

EUR/USD bulls face more problems because of a decline in the euro-area PMI, growing political risks in Italy and ECB dovish comments

The University of Michigan’s U.S. consumer sentiment plummeted to a seven-month low in August  has a little discouraged the EURUSD bears but hasn’t made them give up their plans. The weakness of the euro-area economy, the ECB willingness to ease its monetary policy, as well as the growth of political risks put quite a strong pressure on the single European...

Source Feed: Forex blog: trading blog about Forex earning and investments
Categories: analysts-opinions


Elliott wave forecast for BTCUSD, ETHUSD, XRPUSD

Elliott wave BTCUSD analysis



Market is moving in the initial part of the downtrend that is developing as a leading diagonal (1). There currently forming wave 5 of (1) that is a plain downward impulse consisting of five sub-waves. It is assumed that a short upward correction [iv] of 5 is to be finished soon, afterwards, the price will continue declining towards level 9071 within the final bearish impulse wave. Therefore, one may enter...

Source Feed: Forex blog: trading blog about Forex earning and investments
Categories: analysts-opinions

Overview of the main events of the Forex economic calendar for the next trading week from 19.08.2019 to 25.08.2019

Trading on key Forex news: we expect publication of important macro statistics from Canada, Germany, the Eurozone, Australia, and also follow the annual economic symposium in Jackson Hole organized and sponsored by the Fed.

Despite the decline last week and key support levels reached, major US stock indices maintain a long-term positive trend.

American consumers are still...

Source Feed: Forex blog: trading blog about Forex earning and investments
Categories: analysts-opinions

This week is likely to see a similar or greater level of market activity compared to last week, with no central bank input due concerning the U.S. and Australian Dollars.

Source Feed: DailyForex.com Forex News

Why call China “currency manipulator” when Trump doesn’t need a reason for introducing tariffs?

There’s only one thing the States has invented - the dollar. The rest has been bought. To buy goods at a lower price, Washington needed the strong dollar policy. Now that there are too many goods, Americans are fed up with this policy. Donald Trump accuses Europe and China of competitive devaluation of their own currencies and has even labelled China “currency manipulator”. He would label Germany...

Source Feed: Forex blog: trading blog about Forex earning and investments
Categories: chatty-forex

The pair XAU/USD is likely to fall under correction. Estimated pivot point is at a level of 1536.09.

Main scenario: short positions will be relevant from corrections below the level of 1536.09 with a target of 1471.02 – 1432.75.

Alternative scenario: breakdown and consolidation above the level of 1536.09 will allow the pair to continue the rise up to the levels of  1585.56 – 1650.00.

Analysis: Supposedly, the third wave of senior level  iii of C of (B) continues forming on the daily...

Source Feed: Forex blog: trading blog about Forex earning and investments
Categories: analysts-opinions

The pair USD/JPY is still likely to grow. Estimated pivot point is at a level of  104.99.

Main scenario: long positions will be relevant from corrections above the level of 104.99 with a target of 108.70 – 109.58. 

Alternative scenario: Breakout and consolidation below the level of  104.99 will allow the pair to continue declining to the levels of 104.00 – 103.00. 

Analysis: Presumably, a huge correction finished developing in the form of wave B of senior level on the D1 time frame...

Source Feed: Forex blog: trading blog about Forex earning and investments
Categories: analysts-opinions

The pair GBP/USD is still likely to fall Estimated pivot point is at a level of 1.2211.

Main scenario: short positions will be relevant from corrections below the level of 1.2211 with a target of 1.1900 – 1.1800.

Alternative scenario: breakout and consolidation above the level of 1.2211 will allow the pair to continue the rise up to the levels of 1.2360 – 1.2554.

Analysis: Supposedly, a descending correction of senior level carries on developing  in the form of the zigzag-shaped...

Source Feed: Forex blog: trading blog about Forex earning and investments
Categories: analysts-opinions

The pair EUR/USD is still likely to grow. Estimated pivot point is at a level of 1.1026.

Main scenario: long positions will be relevant from corrections above the level of 1.1026 with a target of 1.1413 – 1.1562.

Alternative scenario: Breakout and consolidation below the level of 1.1026 will allow the pair to continue declining to the levels of 1.0950 – 1.0900.

Analysis: Supposedly, a descending correction of senior level in the form of the second wave 2 finished developing on the...

Source Feed: Forex blog: trading blog about Forex earning and investments
Categories: analysts-opinions

This article discusses the topic of Forex trading being risky. People fantasize about the money they win, but the reality about trading is different sometimes.

Source Feed: DailyForex.com Forex Articles

The markets have been abuzz with recession talks and concerns since the 10-year and 2-year Treasury note yields briefly inverted on Wednesday.

Source Feed: DailyForex.com Forex News

Following months of both political and economic upheaval, Hong Kong’s government announced on Thursday it’s plan to implement an economic support package.

Source Feed: DailyForex.com Forex News

The British Labour Leader Jeremy Corbyn called the leaders of the opposition to back him as a future Prime Minister to stop a no-deal Brexit.

Source Feed: DailyForex.com Forex News

Analysts may be predicting that a recession is coming in the coming months, but traders took began to support that theory immediately, selling off stocks on a grand scale on Wednesday

Source Feed: DailyForex.com Forex News

Prior to the release of YK retail prices, housing and inflation data by the UK Office of National Statistics, the Pound Sterling had been trading close to a 3-year trough.

Source Feed: DailyForex.com Forex News

The former British Chancellor Phillip Hammond warned against a no-deal Brexit, ridiculing the idea that the UK would be better off in such a situation.

Source Feed: DailyForex.com Forex News

The Keltner Channel can be used to effectively identify either trending or ranging market conditions as well as good points for trade entries.

Source Feed: DailyForex.com Forex Articles

One of the questions in Forex trading is what type of broker to use. It depends on your situation but let’s look at the difference between an ECN & a standard account

Source Feed: DailyForex.com Forex Articles

Where there is money involved, there are scammers. the potential rewards in trading are higher, but, some of the best traders in the world make 20% a year.

Source Feed: DailyForex.com Forex Articles

Commodities trade like support & resistance, technical analysis & other markets. Forex gives a head start to trade other markets.

Source Feed: DailyForex.com Forex Articles


You are working hard at trading Forex & having some successes. Yet, at the end of every month, you have ended up with a loss. You might be overtrading.

Source Feed: DailyForex.com Forex Articles

Trading in multiple time frames is important. While you may not trade on the weekly chart, understanding the weekly trend can keep you on the right side.

Source Feed: DailyForex.com Forex Articles

With exchanges and banks shut completely or operating on reduced hours, it’s crucial not to be caught out by surprise festivities when you are planning your trading schedule and strategy.

Source Feed: DailyForex.com Forex Articles

The wedge chart pattern is popular with traders, as it is easy to identify, and has a simple measuring tool that is simple to use. So what actually is a wedge?

Source Feed: DailyForex.com Forex Articles

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The US dollar held strong in the early European session. Buoyed by a “no change” in interest rates from the federal reserve yesterday evening. After the quarterly rate decision was announced the dollar surged strongly against most currencies. The foreign exchange market was extremely active afterwards. Before the U.S. open the latest Department of Labor figures were released. Filed unemployment claims fell below last months figure of 302,000, down to 259,000. It also beat the forecasts which...

Source Feed: Forex Rate – Currency News
Categories: forex, dollar, fed, gbp/usd, gbpjpy

Euro has weakened across the board in the early trading session across Asia and Europe, with the expectant result of the French elections now selling on the news. Whilst many see this result as a positive for the single currency, it seems the result was priced in after opinion polls late last week suggested which way the vote would go. EURUSD EurUsd has fallen near 100 pips from an overnight high of 1.1022. The US Dollar is strengthening with anticipation of a June rate increase, after string...

Source Feed: Forex Rate – Currency News
Categories: forex, euro, foreign exchange, gbp/eur

The Euro gained slightly against the Dollar and the Pound Friday, and strongly against the Japanese Yen, traders noticed the debate on the ECB’s accommodating monetary policy. At the start of the US session, the British pound declined sharply against the Euro to 87.55 pence for one euro, but falls were also seen against the greenback, to 1.2163 dollars. The Swiss Franc gained modestly against the euro at 1.0727 and more significantly against the Dollar to 1.0073 francs, versus 1.0083 francs...

Source Feed: Forex Rate – Currency News
Categories: forex, ecb, euro, hard brexit, pound

The EURUSD was steady on Wednesday as it anticipates the US Federal Reserve monetary policy decision, while adjustments to the BoJ monetary policy meant the Yen was in a volatile state on morning trading. There is a strong sense of anxiety around the markets today, not only in Foreign Exchange but also stocks and commodities. It’s no surprise that traders are watching closely the decision by the Fed, whose monetary policy committee (FOMC) will announce at 1800 GMT if it leaves rates unchanged,...

Source Feed: Forex Rate – Currency News
Categories: forex, euro, fed, gbp

The Euro is gaining ground versus the US dollar during the morning sessions in Europe. The exchange rate moved up to 1.086 dollars, higher than the close of 1.083 dollars on Friday evening. It’s the start of a busy week with statistics, especially with the US employment report on Friday. The US dollar is currently under strong pressure against major currencies like the euro and a continuation of the upward trend cannot be achieved only through excellent job figures. Investors may see good...

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Categories: forex

The British Pound remains under pressure against the US Dollar after a week of fairly positive data over stateside, with Non Farm Payrolls adding 211k above analysts expected 200k forecast. Labor force participation also rose by a tenth of a percentage point to 62.5%. With some mixed but slightly negative data last week for GBP, with Manufacturing PMI down, Construction PMI down but Services PIM up, the Pound looks weak and could well be heading down to take out last week lows of 1.4894. “The...

Source Feed: Forex Rate – Currency News
Categories: forex, gbp, gbp/usd

The euro was pushing slightly lower against the US dollar in morning trading, the single currency being affected by the terrorist attacks that have hit Paris over the weekend. The events of this weekend could have a greater economic impact on tourism and consumer spending over the weeks running up to the end of year celebrations. There is a very real threat of current events pushing France back into recession, which could ignite new ECB intervention. France is the second largest economy in the...

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Categories: forex

Since last Thursday’s interest rate decision, GBP has failed to show any strength against any of the major currencies. Falling through short term support levels and looking to test lower levels. Conversely the US Dollar looks in a buoyant mood again since the non-farm payroll figures on Friday. The non-farm payroll data trumped forecasts with a whopping 271k versus forecast 181k. Unemployment rate stayed unchanged at 5%. It seems the trend for US Dollar (up) and British Pound (down) may stay...

Source Feed: Forex Rate – Currency News
Categories: forex

Many economists forecast steep inflationary growth in the UK over the coming months with the effects from weak commodity prices and falling university fees tailing off. As a result, some analysts are going so far as to predict that the Bank of England (BoE) could increase the benchmark interest rate ahead of the Federal Reserve. This has seen the Pound edge higher versus its major peers on Thursday morning. British Retail Sales data, due for publication later on Thursday, has the potential to...

Source Feed: Forex Rate – Currency News
Categories: forex

Sterling managed to romp higher against a number of its peers on Friday as investors responded to hawkish interest rate related commentary from Bank of England (BoE) policymaker Kirstin Forbes. After Forbes intimated that a UK interest rate hike could occur sooner than markets currently envisage the Pound firmed, consolidating gains accrued earlier in the week following the release of an upbeat UK labour market report. Yesterday’s Rightmove House Price data revealed property price gains of...

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Majors EUR/USD: SHORT AT 1.3618 FOR 1.3503 OBJECTIVE, STOP 1.3667 USD/JPY: SHORT AT 101.83 FOR... For more information, read our latest forex news and reports.

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1mn with ForexSurvivor AUDUSD Break Eve, With the failed rally that hit a break eve point between... For more information, read our latest forex news and reports.

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China released improved trade data that missed expectations on Thursday, figures that suggest... For more information, read our latest forex news and reports.

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Having the past year’s best-performing major currency may become a burden for the U.K. economy,... For more information, read our latest forex news and reports.

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Some Federal Reserve policy makers were concerned investors may be growing too complacent about the... For more information, read our latest forex news and reports.

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