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Tuesday, 24 October 2017

Bitcoin analysis and trading plan for 24/10/2017

Trading plan for 24/10/2017: 
The markets are still waiting to settle in a set of political themes, which condemns trade to remain in the narrow band. Speculation that the central bank's mandate to change in New Zealand harms NZD, which is today the weakest.The rest of FX is relatively stable, waiting for settlement on the ECB side, Brexit, US tax reform, the election of the Fed Chair. EUR/USD rebounded at 1.1770 overnight. USD/JPY has fallen to 113.20 in the New York session but is already heading towards 113.50. 
On Tuesday 24th of October, the event calendar is busy with important data releases in form of a set of Flash PMI Manufacturing, Services and Composite data from France, Germany, Eurozone and the US.


Bitcoin analysis for 24/10/2017: 
The planned Bitcoin fork will be held not on 25/10/2017 as originally announced, but the day before, at the height of block 491407, when miners begin to form blocks with the new proof-of-work algorithm, Equihash. 

Global macro overview for 24/10/2017: 
The New Zealand Dollar is usually strong in the periods of risk appetite, but in recent days has been hit by the domestic political developments. 

President Donald Trump said that he is "very, very close" to announcing his nominee for chairman of the Fed.

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