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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. 

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