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Wednesday, 18 October 2017

Bitcoin analysis and trading plan for 18/10/2017

Trading plan for 18/10/2017: 
The FX market remains tight and stock indices consolidate recent gains. Gold reverses Tuesday's gains and Crude Oil is rallying higher by a good API report. The 19th Congress of the Communist Party of China has started, but so far the conference has brought more pompous language than the announcement of actual action.


Bitcoin analysis for 18/10/2017: 
Users of Blockchain will be able to have their Bitcoin Cash. On October 11, the company announced that it was allowing customers to access their BCH resources.

Global macro overview for 17/10/2017: 
According to the Minutes, the RBA members noted that the Australian economy had grown by 0.8% in the June quarter, in line with the Bank's forecast.

Global macro overview for 17/10/2017:
A surprising information on the Brexit negotiations is attacking the financial markets every day now.

Monday, 16 October 2017

Bitcoin analysis and trading plan for 16/10/2017


Trading plan for 16/10/2017: 
The first trading hours this week bring little traffic to the currency market. Data from China have gone unnoticed; nervous reactions also are not seen after the election results in Austria. Crude Oil goes up for fear of new sanctions for Iran. EUR/USD is trading around the level of 1.1800, USD/JOY around the level of 111.70 and GBP/USD around the level of 1.3300. 
On Monday 16th of October, the event calendar is light in important economic data releases, but the market participants will keep an eye on Wholesale Price Index data from Germany, Trade Balance data from the Eurozone, Empire State Manufacturing Index data from the US and Foreign Securities Purchases data from Canada.



According to the news that broke through Russian Minister of Communications Nikolay Nikiforov, in a meeting behind the closed door, the Russian Federation President Vladimir Putin has officially stated that Russia will issue its own "CryptoRuble" digital currency. 

Thursday, 5 October 2017

DAX30 Daily & H4 Elliott Wave Analysis

⚐ The price of German index DAX30 might just hit the local high at the level of 12972 and the internal impulsive wave progression might have been terminated. If the level of 12,972 is the top of the wave 5 (what would mean the larget time frame cycle of the bigger degree has been completed as well), then the market should impulsively decline towards the level of 12,666 first and then towards the level of 12,365. The clear and visible bearish divergence between the price and momentum oscillator support the view. Nevertheless, there is still a chance, that the level of 12, 972 is the top of the wave 1 of the overall impulsive structure in the whole wave 5. In that case the market would just correct to the level of gap and then rebounded in the direction of the larger time frame trend.
As long as the level of 11, 881 is not clearly violated in impulsive fashion, the outlook still remains bullish.
⚑ Cena indeksu niemieckiego DAX30 mogłaby dotknąć lokalnego poziomu na poziomie 12,972, a wewnętrzny impuls falowy mógł się zakończyć. Jeśli poziom 12,972 jest szczytem fali 5 (co oznaczałoby również koniec większego cyklu czasowego większego stopnia), rynek powinien impulsywnie spadać do poziomu 12,666, a następnie do poziomu 12,365. Wyraźna i widoczna negatywna dywergencja pomiędzy oscylatorem momentum i cena podtrzymuje pogląd. Niemniej jednak nadal istnieje szansa, że poziom 12, 972 jest szczytem fali 1 ogólnej struktury impulsowej na całej fali 5.  W takim wypadku po krótkiej korekcie w kierunku luki, rynek odbije i podazy za trendem.
Tak długo, jak poziom 11, 881 nie jest wyraźnie naruszony w impulsywny sposób, perspektywy nadal pozostają wolne.





Trading plan for 05/10/2017

Trading plan for 05/10/2017: 
An unexpected drop in retail sales in Australia was the only volatile moment of sleepy trading hours in Asia. The rest of forex pairs remained in narrowband fluctuations. The DXY Dollar Index is unmoved, the EUR/USD pair has found a stop at 1.1750, and USD/JPY cannot break through at 112.90. It was also quiet on the stock market. Crude Oil remains close to $50, and Gold holds at $1,275 level. 
On Thursday 5th of October, the economic calendar is light in important news releases. Early in the morning, Switzerland will release Consumer Price Index data and ECB will release Monetary Policy Meeting Accounts data. During the US session, Canada will release Trade Balance data and the US will post Unemployment Claims and Factory Orders data. Some speeches are scheduled later today from FOMC members Jerome Powell, Patrick Harker, and John Williams.


#Bitcoin analysis for 05/10/2017: https://www.instaforex.com/forex_analysis/100563
Global macro overview:  

 
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