Some of the world’s currencies are accepted for most international transactions. The most popular currencies are accepted for most international transactions are the U.S. dollar, the euro, and the yen. However, the U.S. dollar is the most popular.
And in the foreign exchange market 90 of forex trading involves the U.S. dollar. Thus, when assessing the relative strength of the most popular currencies in the world, it’s always against the U.S. dollar, using the dailytime frame chart.
The “major” forex currency pairs are the major countries that are paired with the U.S. dollar (the nicknames of the majors are in parenthesis).
AUD/USD – Australia dollar (Aussie) vs. the U.S. dollar
EUR/USD – Euro vs. the U.S. dollar
GBP/USD – British pound (Sterling or Cable) vs. the U.S. dollar
NZD/USD – New Zealand dollar (Kiwi) vs. the U.S. dollar
USD/CAD – U.S. dollar vs. the Canadian dollar (Loonie)
USD/CHF – U.S. dollar vs. the Swiss franc (Swissie)
USD/JPY – U.S. dollar vs. the Japanese yen (the Yen)
Based on the moving averages and the last daily closing price, relative to the moving averages,
the currency relative strength relative to the US dollar is the following:
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
And here we are again trying to define the market destiny!
Bulls seems to gain terrain in front of the Bears but we can not say who will win until we see what happens in front of the 11000 USD resistance level.
I personally expect for a sudden acceleration of the price upwards as soon as BTC breaks that level. If so, I am pretty sure we can bet for another higher high of BITCOIN and thus for the whole Crypto Market…
By the way, the “balance” between TETHER and BITCOIN is not met so, ALTCOINS are also getting feed here in a strongly manner:
In particular, have a look to BCH , ADA, TRON, EOS and BITCOIN SV, all of them rising higher than 10% while BITCOIN 4%…
Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
Taiwan Semiconductor Manufacturing Company (TSM) is the world’s largest foundry, meaning they manufacture semiconductors. This past Thursday they beat analyst estimates for sales for the quarter, but more importantly signaled a rebound from the current chip down cycle.
Memory chipmaker Micron Technology (MU) reported better-than-expected earning, increased its DRAM (dynamic random access memory) industry demand growth outlook for 2019 and say it expects demand to recover in the second half.
I’m no genius, but clearly these are clues that the semiconductor sector might be bottoming. And what’s funny about making money investing in stocks, you don’t have to be a genius, just need to be able to connect the dots. And if you can’t connect the dots, just follow what the Smart Money does because they have information at their disposable that you and I can only dream about.
On Friday, I noticed unusual options activity in Micron Technology. What’s interesting is these options are short dated, meaning they are going to expire soon. What’s more interesting is these options only become profitable if and when Micron’s stock increase $10 or 22% over the next four weeks, meaning the Smart Money bought a little over 14,000 of the August 30th call options with a strike price at $55.
If the Smart Money is right, these call options have the potential to increase 5X. Will the Smart Money be right, stay tuned.
NOTE: funny how the strike price lines up with the monthly supply at $55.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
After a nasty drop that took price through the 108 support litecoin found support and has rallied hard from $77.
Big V or Little V?
Looking at the daily chart you can see price has already begun a V bottom and came right to the last little consolidation point during the sell off right around 105.
Intraday price has seen a little fight at that price so the question is will price stall here and just give us a little V bottom recovery or are we set to see a push all the way back into the 120’s.
That would be a full V bottom recovery and is very plausible. I do like that after price rallied hard we got a little sideways consolidation for a day and a half before this current candle pushed higher again.
Upside/Downside
On the upside…breaching 105 to broach the old 108 level is a start. After that I think there is a possible clear run to 120.
As for the downside, well really price needs to hold 95 in order for the price action to remain bullish in regard to this move.
I did add some long at 99 last night with a stop loss just below 95. If price struggles to pass 108 in the coming days I’ll consider taking profits otherwise I want to see 120 for a full V bottom recovery.
Bitcoin continues to consolidate right below our $10,650 resistance. Price is getting squeezed within a tighter range. It looks like we should have resolution in the next 24 hours. We’re seeing a potential bullish ascending triangle, which would suggest a break to the upside to at least $11,050. Bears are struggling to confirm a 4 hour death cross on the 50 and 200 EMA. This truly is an interesting battle to watch.
In today’s video we discuss where price may go from here, price targets, the Litecoin halving and your questions. I hope you find it helpful.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.
Workin
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Generally, a Federal Reserve rate cut is very well-received by the stock market, especially if it’s done during a growing economy.
In fact, there have been six such rate cuts since 1971, and the stock market has rallied after every single one. On average, the stock market has risen 9.7% in the three-month period following a non-recession rate cut. If a similar outcome were to happen now, it would indeed send stocks to new highs.
In December, Powell said the Fed’s program to reduce the bond holdings on its balance sheet was on “autopilot.” Powell later went on and raised short-term rates another one-quarter percent. The Markets didn’t like what Powell said and showed him by tanking.
In early January, during a round table with Janet Yellen and Ben Bernanke, Powell said, there is no preset path for raising rates or adjusting the balance sheet. The Markets like what he had to say, eventually climbing 10%.
Then in late January, Powell said the case for raising rates has weakened somewhat. In addition, Powell made it very clear to the Markets and used the word “patient” eight times in his speech regarding hiking interest rates.
The FOMC meets on July 30 and 3 where they will announce, no rate cuts, 25 basis point rate cut or 50 basis point rate cut. If Powell cut rates by 50 basis point, we will see new all time highs within weeks. Anything other then that and we may see a sell off.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
In Elliott Wave terms, UIP began a wave one advance in November 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in April this year, and the red wave two (blue sub-waves a-b-c) correction ended in June. If this wave count is correct, UIP should be heading next towards the April peak in the red wave three.
UnlimitedIP is a recreational copyright intelligent trading platform created by Link Entertainments Technology based on EOS. You can watch their intro video below.
Please click the link to listen to the 46th episode of my weekly crypto podcast ‘Two Minute Crypto.’ These are intended to be short, single-topic ramblings on some aspect of the cryptosphere. Consider dropping a like and or a review on iTunes or Podbean if you enjoy the podcast. Comments and critiques welcome.
Welcome to Two Minute Crypto. Last week focused on Smart Contracts. This instalment discusses the closely related concept of crypto ‘Oracles’.
The guiding framework of this series is to eliminate the use of jargon and to break down crypto concepts into the simplest possible terms. These explanations are intended to form the basis of a sound introduction into the world of blockchain and cryptocurrency.
In ancient Greece, an Oracle was some-one who could read or interpret the future or the will of the gods and provide guidance to navigating whatever lay ahead. In terms of crypto, an Oracle provides a blockchain with information that facilitates a decision within a smart contract. The if A then B structure of a smart contract requires independently verifiable data in order to execute. A blockchain cannot, in itself, access real-world data but only interpret it. An Oracle, therefore, is the source that provides the information required in order for the terms and conditions of the contract to be assessed and carried out.
The blockchain which hosts a smart contract is the record keeper – the Oracle is the supplier of those records. The importance of the reliability of the supplier is obvious. If a smart contract draws information from a biased or compromised source it will nonetheless execute. The data supplied to the contract could be anything from a temperature reading to airline departure times depending on the requirements of the particular contract. The primary challenge with Oracles is the requirement of trust – unlike a blockchain transaction – Oracles supply information which the blockchain itself cannot independently verify – it simply reacts to that data. Simply nominating a centralized authority to interpret the ‘correctness’ of information wouldn’t in itself, address the requirements of verification as that authority could and, in some cases, certainly would alter data to their own benefit.
In truth, managing this relationship between an immutable blockchain, automated smart contracts and external sources of reliable information is still in early development and the key impediment to the general rollout of smart contracts throughout the wider economy.
As it stands, a number of projects, such as Chainlink and Augur are working on creating a decentralized bridge between external suppliers of data and the blockchains into which they feed. When discussing blockchain with a skeptic, it is this area where the tech still needs years of development and where they may have a point.
Brexit is an abbreviation for “British exit,” referring to the U.K.’s decision in a June 23, 2016 referendum to leave the European Union (EU). The process of Britain staying or not staying in the EU has caused a lot of uncertainty, which in turn has caused the British Pound to continue to drop in price.
Canada reported retail sales for May and reported an unexpected decline in sales as consumers cut back on purchases of groceries, alcohol and clothing. Sales fell 0.1% vs 0.3% increase. This past week, GBP/CAD has pulled back, but on this news, GBP/CAD spiked higher.
Monthly Chart (Curve Time Frame) – monthly supply is at 1.90000 and monthly demand is at 1.58000.
Weekly Chart (Trend Time Frame) – the trend is down.
Daily Chart (Entry Time Frame) – the chart suggests to short price at the daily supply at 1.64000.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
Bob Michele, who in April told investors to enjoy the ride in risk assets, is now looking to ride U.S. Treasury yields “all the way down to zero.”
For 10-year notes “I think that’s where we’re headed over the next couple of years,” Michele, the chief investment officer and head of global fixed income at JPMorgan Asset Management, told Bloomberg TV on Thursday. “The rally in bonds hasn’t even begun yet.”
Central banks will succumb to threats from the global trade war to tepid inflation and cut borrowing costs to nothing, according to Michele. His colleagues on JPMorgan Chase & Co.’s advisory side made a similar call this week, saying the global pile of negative-yielding debt is becoming a tar pit that will eventually suck in the U.S. government bond market.
We are already witnessing the greatest credit bubble in history and it’s only going to get worse as cheap fiat flood the World’s Markets. However, this is going to have severe consequences.
The Great Recession is a term that represents the sharp decline in economic activity during the late 2000s, which is considered the most significant downturn since the Great Depression. The term “Great Recession” applies to both the U.S. recession, officially lasting from December 2007 to June 2009, and the ensuing global recession in 2009. The economic slump began when the U.S. housing market went from boom to bust, and large amounts of mortgage-backed securities (MSBs) and derivatives lost significant value.
That’s when Bitcoin was born…after the demise of the financial markets in 2009. Satoshi once said on an online forum back in 2009 the following:
“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.”
