Tether Limited, the issuer of the USD-pegged USDT cryptocurrency, has destroyed 500 million units of the embattled stablecoin. Blockchain data reveals that earlier today, the firm transferred 500 million USDT from the token’s treasury address to this address, which the firm’s website indicates is the official USDT issuing address. Immediately following that transaction’s confirmation, the […]
A few short weeks ago the Dow industrials were on the verge of busting through another psychological milestone at 27,000. However, all that momentum has evaporated as a sweeping downturn grips financial markets, sending the Dow Jones Industrial Average DJIA, -2.41% tumbling more than 600 points on Wednesday and pushing the Nasdaq Composite Index COMP, […]
Wheat broke support area Further losses are likely Wheat today broke through the support area lying between the key support level 510.00 (lower border of the narrow sideways price range inside which the pair has been trading from September) and the support trendline from April. The breakout of the support area should accelerate the active […]
GBPCAD falling inside short-term impulse wave C Further losses are likely GBPCAD continues to fall inside the short-term impulse wave C, which started recently from the resstance area lying at the intersection of the key resistance level 1.7200 (which has been reversing the price from September) and the upper daily Bollinger Band. The active impulse […]
Over the past 24 hours, the crypto market has added $2 billion to its valuation, rising to $210 billion. The Bitcoin price has experienced a slight increase in price from $6,370 to $6,430, supported by a minor rise in daily trading volume. Still, the volume of the cryptocurrency exchange market remains weak, with the daily […]
On Tuesday afternoon, the markets managed to avoid the large-scale sale. The initial decline of the US stock indices by more than 2% was mostly redeemed. Index S&P500 lost 0.55%. In a moment Caterpillar And 3M shares were in decline significantly (by more than 10%). Strictly speaking, their reporting was not bad, but investors were […]
On September 13, the depicted daily downtrend line which came to meet the pair around 1.3025-1.3090 failed to offer enough bearish pressure on the pair. Since then, the GBP/USD pair has been demonstrating a successful bullish breakout so far. On September 21, the GBP/USD failed to demonstrate sufficient bullish momentum above 1.3296. The short-term outlook […]
The US 500 index has come under renewed selling pressure falling back below its 200-day simple moving average (SMA) and beneath the long-term ascending trend line. Despite today’s rebound, the index has posted a fresh lower low, which makes traders more confident for further declines for now. Moreover, the price dipped below the Fibonacci levels, erasing the […]
In recent years, there have been a major debate among the investment community on the difference between active and passive management. In active asset management, investors spend their time buying and selling financial securities while in passive management, they buy indices and ETFs. As a result of this debate, the ETF market has continued to […]
On the weekly chart, the EUR/USD pair is demonstrating a high-probability Head and Shoulders reversal pattern where the right shoulder is currently in progress. On September 10, the price level of 1.1500 offered temporary bullish recovery. Quick bullish movement was demonstrated towards the upper limit of the price range (1.1750). However, the EUR/USD bulls failed […]
GOLD BULLION set or held near new multi-month highs against all major currencies in London trade Thursday, again nearing $1240 for US investors as the Dollar slipped amid fresh volatility in world stock markets. Asian equities fell hard once again overnight, pulling Tokyo down to 13-month lows, but Shanghai held steady after New York’s […]
A three-week stock market sell-off may signal concerns that the massive stimulus from U.S. tax cuts and government spending will fade sooner than expected, a central issue for the Federal Reserve as it considers when to halt interest rate hikes. For now, a more than 7 percent fall this month in the S&P 500 index, […]
Cryptocurrency exchange and brokerage giant Coinbase has provided a major stamp of approval to one of several recently launched USD-pegged cryptocurrency “stablecoins” seeking to supplant tether (USDT) as the leader in this burgeoning market niche. The San Francisco-based Coinbase on Tuesday announced that beginning today, customers can buy, sell, send, and receive USD Coin, the […]
This is the Dukascopy Midday Snapshot, where we take a look at how market participants have performed over the 12 hours to midday. Euro/Dollar shows limited rate movement range of 25 pips and the pair sees 40% less than typical funds. Neutral sentiment of the traders is leaning towards the long side by 10%. Both […]
Yesterday, the Bank of Canada (BOC) announced that it had raised the overnight interest rates by a quarter of a percentage point. This was the fifth rate hike since last summer and the rates now stand at 1.75%. This is the highest level since 2008, before the global financial crisis. The overnight rate is a […]
Trading recommendations: According to the H4 time – frame, I found that BTC is still trading inside of the trading range between the price of $6.456 (resistance) and the price of $6.319 (support). I also found that buying cliamx in the background, which is a sign that buying looks risky. My advice is to watch […]
Recently, the AUD/USD pair has been trading sideways at the price of 0.7080. Anyway, according to the H1 time – frame, I have found a potential double bottom pattern in progress, which is a sign that selling looks risky. The key support at the price of 0.7055 held successfully, which also indicates strength. I have […]
Bluestone Resources is an emerging gold producer in Guatemala with high margins as AISC are only at 490 USD per ounce gold. The company will start in 2020 with production and is full on track to achieve this. The super high margins shall enable a dividend payment after paying back the project financing. 105,000 ounces […]
Economic calendar is light on this Friday, but some potential market movers are scheduled, so let’s take a closer look. The high importance Advance US Gross Domestic Product for the third quarter is out first at a half past noon GMT. The final reading for the second quarter was unchanged at 4.2%. This was the […]
Here are the latest developments in global markets: FOREX: The euro was slowly rising versus the US dollar (+0.15%) below 1.1500 on Thursday ahead of the European Central Bank (ECB) interest rate decision later in the day, where the Bank is expected to keep policy unchanged but is likely to give some growth hints. The pair pared some […]
NZDUSD has been flattening today after the strong rebound on the 0.6500 psychological level earlier in the day. The pair remains under selling pressure as it still stands below the short-term moving averages and beneath the near-term falling trend line. In the short-term, indicators suggest that the rally to the downside is not over yet […]
Overview: Yesterday, the NZD/USD pair dropped sharply from the level of 0.6542 towards 0.6563. Now, the price is set at 0.6520. On the H1 chart, the resistance of USD/CHF pair is seen at the level of 0.6542 and 0.6574. It should be noted that volatility is very high for that the NZD/USD pair is still […]
It’s time to check the fairness of your broker with the Dukascopy spike controller for Thursday. Euro/Dollar’s daily average spread is point 31 pips and peak separation has been point 9 pips. The pair moved above the 1 14 level after gaining point 36% or 41 pips. Past 24 hours have been calm in terms […]
Recently, the EUR/USD pair has been trading sideways at the price of 1.1413. According to the H1 time – frame, I have found a bullish breakout of a 12-hour balance in the background, which is a sign that buyers are in control and that selling looks risky. I also found a piercing candle pattern in […]
Overview: Pivot: 0.7107 The AUD/USD pair faced resistance at the level of 0.7146, while minor resistance is seen at 0.7107. Support is found at the levels of 0.7043 and 0.6980. Also, it should be noted that a daily pivot point has already set at the level of 0.7107. Equally important, the AUD/USD pair is still […]
We are pleased to give a brief account of the latest forex trading seminar hosted by XM in Cairo, Egypt, on 20th October, with event speaker Habib Akiki, on the topic of candlestick chart trading. The educational event titled The Avramis River and the Reversal Patterns attracted numerous online investors whom we were pleased to […]
A break above 1.7557 will be a good first step to confirm the hidden divergence, while a break above resistance at 1.7554 should do the trick and confirm the impulsive rally towards 1.8345. R3: 1.7625 R2: 1.7598 R1: 1.7557 Pivot: 1.7515 S1: 1.7495 S2: 1.7475 S1: 1.7428 Trading recommendation: We are long EUR from 1.7495 […]
Gold has pulled back yesterday towards the break out area and back tested it successfully as prices bounced from the break out area and are now close to their recent highs. As we said yesterday we remain bullish as long as the price is above $1,220. Blue rectangle – support Red line – target The […]
Let’s find out how the interbank compares with the technicals at 8 AM GMT. Euro/Dollar’s short term indicators are mostly neutral. Mid and long term outlook shifts to bearish, matching the 27% short interbank sentiment. Pound/Dollar’s 1 and 4-hour technicals show mostly neutral signals. 7 studies are red in the long term. Interbank stance is […]
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