Elliott Wave Analysis: Crude OIL Aiming For 50

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Markets did not move much, only exception was oil in the last 12 hours when we saw a nice break higher yesterday. Ideally resumption of an uptrend is here for 48 and then even 50 next month. In the short-term however, we should be aware of a new corrective set-back, down into wave two-circled once wave one is finished.

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Crude OIL, 1H

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BTCUSD Price Technical Analysis – Bullish Channel Pullback

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BTCUSD recently broke past a descending triangle formation and is now cementing its climb. A bullish channel can be seen on the 1-hour time frame and price is close to testing support at $600.
Applying the Fib tool on the latest swing high and low shows that the 61.8% retracement level lines up with the channel support, adding to its strength as a floor. The 100 SMA is above the longer-term 200 SMA, which means that the path of least resistance is to the upside. BTCUSD could still test the dynamic support at the 200 SMA, which is closer to the channel bottom.
RSI is heading south to indicate that sellers are in control of price action for now. Stochastic is also moving lower so BTCUSD price could follow suit, possibly even leading to a break below the channel support. In that case, price could be in for a selloff to the next floor at $595.
Liquidity has been low in the cryptocurrency arena lately as traders are presumably more active in other financial markets such as stocks and commodities. US equities just made a strong recovery on the return of risk appetite and reduced uncertainties after the US presidential debate earlier in the week.
Also, investors are likely paying more attention to the rally in crude oil after OPEC leaders confirmed that they agreed on cutting output. However, the size of the caps per member has yet to be determined, possibly by their next meeting in November.
Meanwhile, FOMC members have continued to reinforce the idea of a Fed rate hike before the end of the year. Officials George, Mester, and Yellen have taken the podium yesterday, bringing a bit of a boost for the US dollar.

To contact the reporter of the story: Samuel Rae at samuel@forexminute.com

USDCAD Forex Forecast – Short-Term Reversal Signal

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USDCAD failed in its recent attempts to break past the 1.3250 minor psychological resistance and is moving closer to testing support at the 1.3000 mark. This could complete the formation of a double top pattern, with a break below the neckline likely sending the pair lower by at least 250 pips.
However, the 100 SMA just crossed above the 200 SMA to show that the path of least resistance is to the upside. This means that the 1.3000 level could still hold as support and push price to bounce back up to the 1.3250 resistance for the formation of another top or even an upside break. Stochastic is already indicating oversold conditions, which means that bearish momentum is exhausted, so buyers might take over.
The OPEC gathering in Algiers concluded with energy ministers saying that they’ve reached an agreement. However, this refers only to an outline for an output deal and not an actual production cap just yet. As it turns out, they have yet to agree on the size and scale of the program, and market watchers will have to wait until the next official OPEC meeting in November 30 to see if the deal will push through.
For now, crude oil bulls are pushing the commodity price up, which is supporting the positively-correlated Canadian currency as well. Stronger oil prices could mean strong revenues for Canada’s energy sector, which comprises a huge chunk of its business and export activity.
As for the US dollar, traders still seem to be hopeful for a Fed rate hike in November or December. Data has been slightly better than expected in terms of durable goods orders for August but the July readings were downgraded. There’s not much in the way of top-tier US data today so traders might hold out for next week’s NFP release.
To contact the reporter of the story: Samuel Rae at samuel@forexminute.com

Daily FX Trading Update: OPEC Leaders Reach an Agreement

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USD
The US dollar had a mixed performance as the slightly stronger than expected durable goods orders figures weren’t enough to trigger a strong boost. Headline durable goods orders for August was flat instead of sliding by 1.0% while core durable goods orders fell 0.4% versus the estimated 0.5% drop. However, the July readings were downgraded significantly to show that activity wasn’t as strong as initially reported. US initial jobless claims and final GDP results are due today, along with another speech by Fed head Yellen.
EUR
The euro managed to advance against the dollar and the yen but was no match to comdoll strength. Germany’s GfK consumer climate index fell from 10.2 to 10.0 to show weaker optimism. For today, German and Spanish flash CPI readings are due. The German unemployment change report is also due today and a 5K drop in joblessness is eyed.
GBP
The pound continued to advance against most of its peers even though there were no major reports out of the UK economy. Today’s schedule has the net lending to individuals and mortgage approvals report due.
CHF
The franc was still in a weak spot against its forex rivals even though Switzerland’s UBS consumption indicator improved from 1.46 to 1.53. Today’s schedule is empty for the Swiss economy so the franc could take its cue from euro zone data or market sentiment.
JPY
The yen was off to a weak start in the Asian session after Japan printed a weaker than expected retail sales report. Consumer spending was down 2.1% on a year-over-year basis versus the projected 1.7% drop and the previous 0.2% dip. BOJ Governor Kuroda has a speech lined up and dovish remarks could continue to push the currency down.
Commodity Currencies (AUD, NZD, CAD)
The Loonie cheered the positive outcome of the OPEC gathering in Algiers, as energy ministers agreed that they need to come up with a deal to cap production. For now, they will still discuss the size and scale of the program but the official deal won’t be announced until their November meeting. US crude oil inventories were down 1.9 million barrels versus the estimated rise of 2.4 million barrels. There are no reports due from the comdoll economies today.
To contact the reporter of the story: Samuel Rae at samuel@forexminute.com

Dragon’s Tale – Join a 3D Virtual World of Casino-based Mini-Games

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Dragon’s Tale is one of the oldest and the most original gambling site in the Bitcoin industry. After a few years, Dragon’s Tale has become one of the leading Casinos in the Bitcoin gambling Industry.

The site is currently the only online Casino providing gamblers with a Casino with hundreds of exotic casino-based mini-games. Besides gambling, Dragon’s Tale also focuses on offering gamblers the chance of enjoying a role-playing game.

Dragon’s Tale is made up of a virtual world where the users will be gambling along many islands with lots of strange mini-games to play and other quests to complete. The mini-games that you can find in Dragon’s Tale are very fun and completely different from the conventional ones you usually find in any other Bitcoin Casino. Dragon’s Tale even has its own Slot game version. However, it is a completely different version of what you are used to finding.

Besides Tournaments and Festivals, gamblers at Dragon’s Tale, are also free to create their own private and public events. These and several other features are another of the Casino’s features that make it the most original and unusual Casino website ever.

Dragon’s Tale is already one of the top ranked Casinos in the industry. If you are one of those gamblers who are simply tired of gambling the same games over and over, Dragon’s Tale might turn out to be a breath of fresh air for you! Come along and join Dragon’s Tale and find out an amazing 3D Virtual world loaded with fun Games you won’t find anywhere else!

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EURUSD Forex Forecast – Descending Triangle Setup

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EURUSD has formed lower highs and found support at the 1.1130 area, creating a descending triangle formation on its 4-hour chart. Price is currently testing the triangle resistance and might be due for a drop back towards support.
The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside, adding confirmation that the triangle resistance could keep gains in check. Stochastic is also on the move down, which suggests that sellers are in control of price action for now.
However, the oscillator is nearing the oversold zone so this bearish pressure could fade soon. In that case, price could make another bounce off support and go for a climb back to the resistance at 1.1250. Stronger bullish momentum could trigger a breakout, which could result in a rally of around 200 pips, which is the same height as the chart formation.
Economic data from the US came in mostly stronger than expected yesterday, with both the flash services PMI and CB consumer confidence index beating expectations and hinting at stronger business and consumer activity down the line. Data from the euro zone fell short of estimates, with German import prices down 0.2% versus the projected 0.1% dip, adding downside pressure on inflation.
For today, Germany will print its GfK consumer climate index and likely show no change from the previous 10.2 reading. The US is set to report durable goods orders data, with analysts expecting to see a 1.0 drop in the headline figure and a 0.5% decline in the core reading. Fed head Yellen and FOMC member Bullard also have testimonies lined up, as hawkish remarks could keep the dollar supported on rate hike hopes.
ECB head Draghi also has a testimony lined up but his speech earlier in the week didn’t contain much surprises. Still, any remarks cautioning about the impact of the Brexit on the euro zone economy could keep a lid on the shared currency’s gains.
To contact the reporter of the story: Samuel Rae at samuel@forexminute.com

Daily FX Trading Update: No Deal from OPEC… For Now

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USD
The US dollar had a mixed performance across the board, although the currency was slightly supported by better than expected data. The flash services PMI climbed from 51.0 to 51.9, outpacing the estimate at 51.1, while the CB consumer confidence index improved from 101.8 to 104.1 instead of dropping to to projected 98.6 reading. For today, durable goods orders data are due, with analysts expecting to see a 1.0 drop in the headline figure and a 0.5% decline in the core reading. Fed head Yellen and FOMC member Bullard also have testimonies lined up.
EUR
The euro was mostly in recent trading sessions after Germany printed a sharper than expected fall in import prices. The report showed a 0.2% drop versus the estimated 0.1% dip, putting more pressure on domestic inflation. Germany’s GfK consumer climate index is due today and no change from the earlier 10.2 reading is eyed.
GBP
The pound managed to bounce against most of its counterparts as traders were likely booking profits from the currency’s slide earlier in the month. UK CBI realized sales was weaker than expected, as the index fell from +9 to -8 instead of just dipping to +8. There are no major reports lined up from the UK economy today.
CHF
The franc tried to hold steady to the dollar but weakened against most of its counterparts as risk appetite rebounded after the US presidential debates. The Swiss UBS consumption indicator is due today, along with the KOF economic barometer which could rise from 99.8 to 100.5.
JPY
The yen was off to a weak start but soon regained ground towards the latter sessions. There were no major reports out of Japan then and none are due today, which suggests that risk sentiment could be responsible for pushing the Japanese currency around.
Commodity Currencies (AUD, NZD, CAD)
The comdolls had a mixed performance, with the Aussie holding on to its gains on lower odds of an RBA cut and the Kiwi sliding lower on rate cut expectations. The Loonie had a volatile time after OPEC leaders suggested that they might not come up with an output deal just yet but noted that they’re moving closer to an agreement. US crude oil inventories are up for release next.
To contact the reporter of the story: Samuel Rae at samuel@forexminute.com

Dragon’s Tale – The Place where a Role-Play and Gambling Meet

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Dragon’s Tale is a Bitcoin casino that offers players the chance to play in a 3D virtual environment where role-play game and gambling meet. Dragon’s Tale was the first to create a massive multiplayer role-play gambling website.

In this Casino, you won’t find any of the games you are used to finding in any other casino.  It is not a conventional casino and as so, it offers a wide variety of completely different and original casino-based mini-games.

One of these original and fun mini-games which you can easily find in Dragon’s Tale is the Vegetable Farm. The Vegetable Farm is a fun skill-based game that you can find in some of the islands of Dragon’s Tale. In this game, a player will have to grow various vegetables in a community garden. The player will also need to choose what plants can be in the same crop or not, because there different species of plants and many of them can’t be together.

To take out some good wins from this game players need to grow a lot of different vegetables. As they grow they will make strange and different patterns. The vegetables will grow in complex patterns; different plants in the same crop can give different outputs, and consequently bigger rewards.

The games in Dragon’s Tale are very simple and extremely fun to play. If you haven’t tried out Dragon’s Tale before come along, sign up for free and start playing now!

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BTCCNY Price Technical Analysis – Bulls Are Charging!

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BTCCNY was previously trading inside a descending triangle pattern, as price formed lower highs and found support at 3960.00. Bitcoin eventually broke past the triangle resistance, indicating that the consolidation is over and that bullish momentum has won over.
Price is currently moving inside a bullish flag pattern after the breakout, and a break past the top of the formation around 4050.00 could put BTCCNY on track for prolonged gains. The chart pattern is approximately 250.00 points high so the resulting rally could last by the same amount.
The 100 SMA is below the 200 SMA for now but the moving averages are edging closer together so an upside crossover could be due. In that case, bullish momentum could pick up even more, allowing bitcoin price to aim for the next resistance levels.
Oscillators are painting a different picture, though, as both RSI and stochastic are heading south. This suggests that buying pressure is weak and that sellers are taking over. This could lead to a pullback to the broken triangle resistance before BTCCNY resumes its climb. Price could find support at 4000.00 from here or at the dynamic support around the moving averages.
Profit-taking seems to be happening in Asian markets ahead of the 7-day long Chinese holiday so investors might be ramping up demand for cash. Apart from that, it’s also the end of the month and quarter by the end of this week, which means that reversals from the previous trends could be seen.
Demand for bitcoin also rose ahead of the US presidential debates, with traders seeking alternative securities to avoid event risk. The US dollar has slid lower to the bitcoin ahead of the event while equities closed in the red, although the outcome of the debates seems to favor Clinton and a return in risk appetite later on.
To contact the reporter of the story: Samuel Rae at samuel@forexminute.com

NZDUSD Forex Forecast – Quick Reversal Correction

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NZDUSD was previously trading inside an ascending channel formation before making a downside break and hitting a low of .7220. From there, price showed signs of a pullback and looks ready to make a retest of the broken channel support at the .7300 major psychological level.
Applying the Fib tool on the latest swing high and low shows that the 61.8% retracement level also coincides with the broken channel support, adding to its strength as potential resistance. If it holds as a ceiling, NZDUSD could resume its drop to the previous lows or much lower.
The 100 SMA just crossed below the longer-term 200 SMA to confirm that the path of least resistance is to the downside. In addition, the moving averages appear to be holding as dynamic inflection points at the moment. Stochastic is already on the move down from the overbought zone to show that sellers are taking control of price action.
Last week, the RBNZ hinted that they’re keeping the door open for additional rate cuts, citing concerns about inflation and weak demand from emerging economies. Governor Wheeler also emphasized that the Kiwi is trading at high levels, which is dampening export activity and overall growth.
Meanwhile, the FOMC also decided to keep rates on hold for the time being but hinted that they could still tighten in their next policy meetings. Three members voted to hike in September, reflecting a shift to a more hawkish committee. For now, policymakers have indicated that they’ll be keeping close tabs on upcoming data to see if they can stay on track towards hiking rates soon.
There’s not much in the way of top-tier reports from both economies this week, though, so these monetary policy biases could be the main driver of price action. Apart from that, overall market sentiment could also be influenced by the US presidential debates and the OPEC meetings, with risk-off moves favoring the safe-haven USD.
To contact the reporter of the story: Samuel Rae at samuel@forexminute.com

Daily FX Trading Update: US Presidential Debates Take Central Stage

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USD
The US dollar was barely able to take advantage of the risk-off moves in the market and the slightly stronger than expected US new home sales report. Traders seemed hesitant to hold on to the currency ahead of today’s first set of US presidential debates, as the impact on opinion polls could have a huge say in overall risk sentiment. US CB consumer confidence data is due next and a slide from 101.1 to 98.6 is expected.
EUR
The euro got a boost from stronger than expected German Ifo business climate data, as the reading rose from 106.3 to 109.5. To top it off, ECB Governor Draghi reiterated in his testimony that the region is resilient even after the Brexit vote. German import prices data is due today and a 0.1% decline is eyed.
GBP
The pound managed to make a bit of a bounce against some of its counterparts even though there were no major reports out of the UK. BBA mortgage approvals was slightly weaker than expected at 37K versus the 37.2K estimate and the previous 37.7K figure. CBI realized sales data is due today and a drop from 9 to 8 in the index is expected.
CHF
The franc was able to hold its ground to the dollar but was mostly weaker to its other counterparts. Profit-taking may have been happening as the end of the week, month, and quarter is approaching. There are no reports due from the Swiss economy today and SNB head Jordan’s testimony yesterday didn’t have any surprises.
JPY
The yen regained ground against its peers as risk aversion was present in the financial markets. Earlier today, the BOJ monetary policy meeting minutes spurred a bounce since it contained more details on why the central bank is making its adjustments. No other reports are due from Japan for the rest of the day.
Commodity Currencies (AUD, NZD, CAD)
The Kiwi and Aussie took advantage of dollar weakness and also advanced against European currencies. The Loonie, on the other hand, was bogged down by the lack of a deal in the OPEC meeting and downbeat remarks from BOC Governor Poloz. There are no reports due from the comdoll economies today.
To contact the reporter of the story: Samuel Rae at samuel@forexminute.com

What I learned from Trading Binary Options with Binary Uno?

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Binary Options, unlike regular trading has two simple options for making a trade, “Call” or “Put”. The “Call Option predicts whether the price of the asset will rise and the “Put” option predicts that the asset will fall. To understand more about Binary Options and how they work, I chose Binary Uno, a reputable online trading platform with a large global presence.

Take a look below at Binary Uno’s platform:

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How to turn your money into profit?

Making an account is easy, simply go to the Binary Uno website to open up an account and login. Binary Uno is 100% free and easily accessible from the web or any mobile device. Whether you are an experienced trader or it’s your first time trading, Binary Uno provides for you all the resources you need to become a skilled trader. Additionally, the customer support is readily available to assist you in the entire process.

After you have opened an account, you will need to select which type of asset to trade from (Indices, Forex, Commodities or Stocks). I choose to use pairs of commodities currency EUR/USD. You can of course choose from any other pair of commodities for example, EUR/CAD or EUR/GBP.

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My winning trade

After making a thorough analysis of the market, I went with the “Call” option for EUR/USD and invested $500.

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After my trade has been approved, as you can see in the photo, I started at 11:30 GMT and I had to wait until the expiry time indicated – 11:40 GMT.

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The result? Well, take a look at it yourself. I invested $500 and after ten minutes, I won $885 (that’s 77% of the money I invested).

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Binary Uno was simple and easy-to-use, the entire experience was extremely pleasant. The user-friendly trading environment made me feel like nothing can go wrong, even if I was completely aware that there were chances to lose. With Binary Uno you don’t have to worry, you just have to dare to win.

What I learned from Trading Binary Options with Binary Uno? 0 100 0