BTCUSD Price Technical Analysis – Simple Breakout Correction

As illustrated in the previous article, BTCUSD found support at the area of interest around the Fib levels and rising trend line then resumed its climb. Price broke above another resistance level, which might now hold as support.
BTCUSD hit the $675 area before showing signs of a pullback. Applying the Fib tool on the latest swing low and high on the 1-hour time frame shows that the 50% level lines up with an area of interest once more, this time around $640. A larger correction could last until the 61.8% Fib, which is closer to the moving averages’ dynamic support areas.
The 100 SMA just crossed above the longer-term 200 SMA to show that the path of least resistance is to the upside and that the uptrend could resume at some point. Stochastic is indicating oversold conditions and is turning higher while RSI is in the oversold area as well, suggesting that bullish momentum could return.
If so, BTCUSD could make its way back up to the previous highs and beyond. On the other hand, a return in selling pressure could lead to a break of these correction areas, with a move below the line in the sand at the 61.8% Fib suggestive of a potential downtrend.
The US GDP report is up for release later in the week and a very strong reading could reinforce dollar demand on stronger Fed rate hike expectations for November or December. Still, bitcoin is enjoying support from the news that the U.K. is pooling resources to boost security in the cryptocurrency’s network, which would be beneficial for companies and customers in the industry.
There aren’t much market catalysts on deck for the week so a bit of consolidation could be seen in the next few days before volatility picks up again during the weekend.
To contact the reporter of the story: Samuel Rae at

EURJPY Forex Forecast – Bears Waiting at Trend Line

EURJPY has been trending lower, moving inside a descending channel visible on its 1-hour time frame. Price is bouncing off the channel support and might be due for a test of resistance around the 113.50 minor psychological level.
Applying the Fib tool on the latest swing high and low shows that the 50% level coincides with the channel resistance and is also near the dynamic inflection point at the 100 SMA. This short-term moving average is below the longer-term moving average so the path of least resistance is to the downside.
Stochastic is on its way up but seems to be crossing down, which suggests the presence of weakening bullish pressure. If sellers take over, price could resume its drop to the previous lows near the 112.00 handle or lower until the channel support.
Euro zone flash PMI readings are due today from the manufacturing and services sectors of France and Germany. Small improvements are eyed, with all indices expected to show a slightly faster pace of industry expansion. Weaker than expected results, however, could spur stronger losses for the shared currency.
The ECB refrained from making any monetary policy adjustments last week but this turned out to be a disappointment for bulls who were expecting some confirmation that QE tapering had been discussed. Instead, Draghi suggested that their bond purchase program could even go past the March 2017 end-date.
Earlier today, Japan reported a rise in its flash manufacturing PMI from 50.4 to 51.7, outpacing the consensus at 50.6. Later on in the week, CPI and spending data are lined up from Japan, with another batch of strong readings likely to keep the Japanese currency supported.
To contact the reporter of the story: Samuel Rae at

Daily FX Trading Update: Canadian Retail Sales and CPI Disappoint

The US dollar was able to post gains against its counterparts on Friday even though there were no major US reports on deck. Only the US flash manufacturing PMI is lined up today and an uptick from 51.5 to 51.6 is eyed. Also on the schedule are speeches from FOMC members Dudley and Bullard.
The euro was in a weak spot on Friday even though there were no reports out of the region. Today has flash PMI readings from the manufacturing and services sectors of Germany and France, with small improvements eyed. These might be enough to bring the region’s manufacturing PMI up from 52.6 to 52.7 and its services PMI up from 52.2 to 52.4.
The pound struggled to hold on to its recent gains after the UK public sector net borrowing figure came in at 10.1 billion GBP versus the projected 8.6 billion GBP figure. Only the CBI industrial order expectations report is lined up today and an improvement from -5 to -2 is expected.
The franc slid lower against most of its forex peers on Friday as the Swiss currency simply trailed the euro. There are no major reports lined up from the Swiss economy today so the franc could be influenced by the turnout of the euro zone PMI reports unless SNB head Jordan drops a bombshell during his testimony today.
The yen took advantage of weaker risk appetite on Friday to advance against its higher-yielding rivals. Over the weekend, Japan printed a stronger than expected trade balance, as the surplus came in at 0.35T JPY versus the projected 0.21T JPY figure. Earlier today, Japan’s flash manufacturing PMI jumped from 50.4 to 51.7, higher than the estimated rise to 50.6.
Commodity Currencies (AUD, NZD, CAD)
The comdolls gave up a lot of their recent gains, as the Loonie broke past a key level against the US dollar when Canadian data came in weaker than expected. Headline retail sales fell 0.1% while core retail sales was flat. Headline CPI posted a 0.1% uptick versus the projected 0.2% gain while core CPI came in line with expectations of a 0.2% increase. Canada’s wholesale sales is due today.
To contact the reporter of the story: Samuel Rae at

LEOcoin Launches New Products as Its Market Cap Rises by 10 Times


LEOcoin, the open source cryptocurrency created keeping the needs of entrepreneurs and businesses in mind has been gaining a lot of traction lately. An initiative of LEOcoin Foundation, the digital currency’s increasing popularity is being reflected in the rise of its value.


LEOcoin Info Mobile App


October has been an eventful month for LEOcoin, starting with the launch of its LEOcoin Info mobile application. The LEOcoin Info application is available for both Android and iOS-powered mobile devices. It is a comprehensive cryptocurrency educational and news resource with all important details about LEOcoin. The developers’ understanding of the cryptocurrency ecosystem has played a significant role in the way the mobile application is designed.


Apart from offering basic information, price and real-time trends for LEOcoin, the application features the list of markets in which the digital currency can be traded. The app also lists other major cryptocurrencies, their price trends, and market capitalization to allow LEOcoin holders to make profitable trades between LEOcoin and other digital currencies.


LEOcoin in China


While the LEOcoin application is just a tip of the iceberg, the actual traction is being influenced by the relentless promotional and educational activities undertaken by the top management of LEOcoin Foundation. The prominent members of LEOcoin including Danny Alexander are constantly working with entrepreneurs, diplomats, bureaucrats, government officials, businessmen and the huge 200,000 strong LEOcoin community. In one such recent interaction, the LEOcoin team was in China attending a financial summit. The Chinese event saw Danny Alexander share the stage with Asian Infrastructure Investment Bank’s top executive to discuss potential strategic partnerships with one of the top economic institutions in the region.


LEOcoin is expecting to work closely with many prominent institutions including the Asian Infrastructure Investment Bank in the near future. The event also had developers, cryptocurrency experts, and other LEOcoin community members in attendance.


LEOcoin’s Technology Shift


The digital currency has been slowing gaining a strong foothold in the cryptocurrency sector. Few changes made to the technology earlier this year has been a contributing factor as well. The digital currency shifted from Proof of Work consensus algorithm to Proof of Stake algorithm to reduce the barrier of entry for users. With the PoS algorithm in place, users are saved from going through the whole process of understanding the technology behind LEOcoin, mining hardware, its operations and more. In order to contribute to the network, the users now just have to keep their LEOcoin wallet open with some balance in it to stake the network.


LEOcoin recently witnessed its value go up by ten times this year. Earlier trading at $0.067 per token, its value now stands at $0.60. With its increasing value, the total market capitalization of LEOcoin now puts it in the 6th position.


Rewards and Trading


LEOcoin also offers an attractive bonus to its community members. The approximate annual proof of stake percentage rewards on the platform are as follows;


LEOcoin Balance Approximate Annual Percentage
0 – 999.9999 0%
1000 – 4,999.9999 10%
5000 – 49999.9999 15%
50000+ 20%



LEOcoin holders can now trade the digital currency on Cryptopia, Leobit, LEOxChange, C-CEX, Livecoin and other exchanges. Soon, there will be more options as LEOcoin continues to add more exchanges.


The increasing popularity of LEOcoin makes it an attractive investment opportunity at the moment. Those who join the LEOcoin community stand to earn a lot in the near future as the digital currency’s value continues to appreciate.

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To follow more about LEOcoin in the community, please visit




BTCCNY Price Technical Analysis – Area of Interest Holding!


BTCCNY continues to trend higher and is showing increased bullish pressure. Price is bouncing off the mid-channel area of interest and could be ready for another test of resistance.

This nearby support zone lines up with the 100 SMA, which has held as a dynamic inflection point. Still, an actual test of the channel bottom could halt at the 200 SMA dynamic support just above 4100.00. The 100 SMA is above the 200 SMA so the path of least resistance is to the upside and the climb is likely to continue.

Stochastic is on the move up so BTCCNY could follow suit and attempt to break past 4400.00-4450.00. Similarly RSI is heading higher, which means that buyers are in control of price action right now. A break below the channel support, however, could bring more sellers to the mix.

Economic data from China did little to support the yuan last week, even as the numbers were mostly in line with expectations. Traders still seem to favor higher yields from the cryptocurrency, especially with all the volatility in the forex market.

Besides, the drop in short-term consolidation merely provided buyers a chance to buy bitcoin at a much better price. If bullish pressure isn’t sustained from here, a larger correction to the channel support might be in the cards.

There’s not much in the way of economic catalysts towards the end of the week, although it’s helpful to note that volatility does pick up around this time. Earlier in the week, both the BOC and ECB refrained from adjusting monetary policy but hinted at a dovish stance, which could keep risk-taking and bitcoin supported from here.

To contact the reporter of the story: Samuel Rae at

USDCAD Forex Forecast – Potential Countertrend Play

USDCAD bounced off the ascending channel support around the 1.3100 area recently and is on its way to test resistance at 1.3300-1.3350. If this area holds as a ceiling, price could head back down for another test of support.
The 100 SMA is above the longer-term 200 SMA on this time frame so the path of least resistance is to the upside. If so, price could make an attempt to break past the channel resistance and go for a sharper climb. However, stochastic is already indicating overbought conditions so sellers could take over once the oscillator heads south.
Economic data from the US has been mixed yesterday, with initial jobless claims missing expectations and the existing home sales report printing upbeat results. There are no major reports up for release from the US today.
The BOC refrained from cutting interest rates in their latest monetary policy statement but Governor Poloz hinted that officials actively discussed the idea of more stimulus. The central bank also downgraded growth and inflation forecasts for the year, citing a weaker outlook for export activity as well.
In contrast, Fed rate hike expectations for November or December are still in play, supporting the US dollar. With that, this counter trend setup could prove to be risky as an upside breakout seems possible, unless any other catalysts materialize. Canada has its retail sales and CPI figures lined up so strong readings could allow the Loonie to recover.
Crude oil price gains have been supporting the positively correlated Canadian dollar, as inventories data have shown surprise declines in stockpiles, further easing fears of an oversupply. Speculations about an oil output deal for the November OPEC meeting could continue to support the oil-related Loonie.
To contact the reporter of the story: Samuel Rae at

Daily FX Trading Update: Draghi Denies QE Taper Talks

Economic data from the US came in mixed, with initial jobless claims missing expectations and the existing home sales report printing upbeat results. The Philly Fed index posted a smaller than expected decline but still indicated a slowdown in the manufacturing industry. There are no major reports due from the US economy today.
The euro continued to tumble against its forex counterparts as traders were disappointed to find out that ECB policymakers hadn’t planned on tapering QE yet. ECB Governor Draghi said that QE could extend past the March 2017 end-date, citing a weak inflation outlook and downside risks to growth. Euro zone business confidence data is due today, along with a speech by German President Weidmann.
The pound put up a fight against its forex rivals despite weaker than expected UK retail sales. The report showed a flat reading instead of the estimated 0.3% uptick. UK public sector net borrowing data is due today but market watchers could be more sensitive to Brexit headlines.
The franc underwent a volatile period during the ECB press conference as the Swiss currency took its cue from the euro. Swiss trade balance was stronger than expected at a surplus of 4.37B CHF from the earlier 3.01B CHF. There are no reports due from the Swiss economy today.
The yen was mostly weaker against its peers even though there were no major reports out of the Japanese economy. Earlier today, BOJ Governor Kuroda had a testimony but his remarks failed to inspire strong moves for the currency, leaving it vulnerable to market sentiment for the rest of the day.
Commodity Currencies (AUD, NZD, CAD)
The comdolls were in a weak spot after Australia printed a dismal jobs report. Unemployment rose by 9.8K while labor force participation tanked. In New Zealand, visitor arrivals and credit card spending rebounded. Canada’s CPI and retail sales figures are due today and improvements are expected on both fronts.
To contact the reporter of the story: Samuel Rae at

BTCUSD Price Technical Analysis for 10/20/2016 – Potential Pullback Zones


BTCUSD broke below its short-term consolidation pattern, signaling that buyers would rather enter at bargain levels instead of pushing for a continuation breakout. Applying the Fib tool on the latest swing high and low shows that the 61.8% retracement level lines up with the rising trend line on the 1-hour time frame.

The 100 SMA is crossing below the longer-term 200 SMA, though, which means that bearish pressure is mounting. This could lead to a downside break of the rising trend line, setting BTCUSD on a downtrend. However, price could still draw support from the next area of interest at $612-616.

Stochastic is indicating oversold conditions and is turning higher while RSI is also making its way out of the oversold area to suggest a return in buying momentum. If so, BTCUSD could be able to make its way back up to the swing high around $640 or higher.

Dollar strength was in play yesterday after EU officials have been reiterating the need to make Brexit negotiations difficult for the UK in order to prove the point that leaving the bloc comes at a price. However, German politician Weber mentioned that this could do damage to the euro zone economy as well, reminding investors that there are plenty of uncertainties that this issue could bring to the global economy.

Meanwhile, the Fed remains on track towards hiking interest rates before the end of the year, as the Beige Book confirmed that signs of upward pressure on wages are materializing. Medium-tier US data came in mixed but the safe-haven status of the US dollar and the gains in the equity  market were enough to keep the currency supported.

To contact the reporter of the story: Samuel Rae at

USDCAD Forex Forecast – Bulls Defending Channel Support

USDCAD is trending higher on its long-term and short-term charts, moving inside an ascending channel on its 1-hour time frame. Price dipped below the channel support but spiked right back up, indicating that buyers are putting up a fight.
The 100 SMA is still above the longer-term 200 SMA so the path of least resistance is to the upside. In that case, USDCAD could move back up to the channel resistance at the 1.3300 major psychological level or higher. However, the gap between the moving averages is narrowing so a downward crossover might take place.
If that happens, selling pressure could pick up and trigger a break of the support at the 1.3100 major psychological level. Stochastic is on the move up to show that buyers are in control of price action but the oscillator is nearing the overbought region to reflect buyer exhaustion.
The Bank of Canada kept interest rates on hold at 0.50% as expected but Governor Poloz admitted that policymakers have “actively discussed” the idea of additional stimulus. The central bank also lowered its 2016 GDP forecast from 1.3% to 1.1% on weaker export activity.
In crude oil news, the EIA report showed a surprise draw of 5.2 million barrels from stockpiles, easing fears of an oversupply and driving crude oil back up again. Later on in the week, Canada is set to print its retail sales and CPI figures, which might underscore the BOC’s dovish tone.
As for the dollar, US reports were mixed, as building permits beat expectations with a gain from 1.15M to 1.23M while housing starts fell from 1.15M to 1.05M instead of rising to 1.18M. US existing home sales are lined up, along with the Philly Fed index and the initial jobless claims.
To contact the reporter of the story: Samuel Rae at

Daily FX Trading Update: BOC Sounds Dovish, ECB Next

The US dollar had a mixed performance as it reacted to country-specific events. Data came in mixed, as building permits beat expectations with a gain from 1.15M to 1.23M while housing starts fell from 1.15M to 1.05M instead of rising to 1.18M. US existing home sales are lined up, along with the Philly Fed index and the initial jobless claims.
The euro was weighed down by remarks from EU official Weber who called for tough Brexit negotiations, admitting that the split could do damage to the remaining EU bloc as well. There were no major reports out of the region then while today has the ECB rate decision lined up. No actual easing announcements are expected but any downbeat remarks could drag the shared currency much lower.
The pound put up a strong fight in the forex arena but was unable to make much headway after EU official Weber reiterated the need to make Brexit negotiations tough on the UK. Employment data was slightly better than expected as the economy added 0.7K positions instead of losing 3.4K jobs. The average earnings index came in at 2.3% as expected while the unemployment rate didn’t budge from 4.9%. UK retail sales data is due today and a 0.3% rebound is eyed.
The franc consolidated to the dollar and pound but was able to advance against the euro. There were no reports out of the Swiss economy yesterday while today has the trade balance lined up. A larger surplus of 3.27B CHF is eyed compared to the earlier 3.02B CHF, possibly indicating a pickup in export activity.
The yen had a mixed performance as it weakened to the commodity currencies but strengthened against the European currencies and the dollar. There were no reports out of the Japanese economy yesterday and there are none lined up today so the yen could continue to react to country-specific events or overall market sentiment.
Commodity Currencies (AUD, NZD, CAD)
The Aussie and Kiwi held on to their gains after China’s data came in mostly in line with expectations, even as Australia printed a weak jobs report. Employment fell by 9.8K in September instead of showing the estimated 15.2K rise. The BOC kept rates on hold as expected but Governor Poloz admitted that the idea of additional stimulus was discussed. The Canadian central bank also lowered growth forecasts for the year on expectations of weak exports.
To contact the reporter of the story: Samuel Rae at

Covering the extraneous risk


The calculation of risk is fundamental to all trades. As Christian Gollier pointed out in his seminal The Economics of Risk and Time, when everything else is stripped away risk remains as the key criteria on which any decision is rests. Risk is the balancing factor against which potential gains are assessed; it is the fulcrum that determines the decision or not to actually trade in the first place.

Within the forex sector the notion of risk is more complex than that of the man or woman on the street. Any risk represents a potential opportunity and so the consideration of risk stands – as Gollier suggests – as a multifaceted, highly complex psychological as well as economic consideration.

Extraneous risk

There are, however, risks that fall outside the consideration of the market per se, and that offer no positive upside – other than for a minority criminal fraternity. From a trader’s point of view these represent what we could call extraneous risks. For obvious reasons questions of cyber security do not feature overly prominently on the websites or the marketing materials of the main trading platforms. There is enough to concentrate on as it is, without the prospect that your data might be disappearing into the dark net because of some vulnerability in the site’s security program.

"Mod_security and Mod_evasive for Apache" (CC BY 2.0) by xmodulo
“Mod_security and Mod_evasive for Apache” (CC BY 2.0) by xmodulo

A silently glaring example

The case of Yahoo’s quiet response to its hacking in late 2014, which only came to light after a tight-lipped two-year hiatus, illustrates just how poisonous the idea of a security breach can be. Five hundred million Yahoo users might be entitled to wonder whether their security has been diminished as a direct result of the hack. They might also be entitled to wonder to what extent they have been put at risk as a result of Yahoo’s attempt to protect their reputation (not to mention their sale with the proposed $4.8 billion deal with Verison) by means of a policy of strategic silence.

Multiple vulnerabilities

The ingenuity of the hackers is matched only by the diligence with which the burgeoning data security industry are developing ever more robust security solutions. Indeed, web application vulnerabilities have evolved to target both front- and back-end databases: SQL injection, cross-site scripting, remote file inclusion and cross-site request forgery are merely the most recent threats to have been identified and countered – at least for those engaging in up-to-date security packages.

As individual users we can boost our own security by checking the urls of the sites we visit. Anything prefixed https or that shows a green address bar will tell you at a glance that it’s been certified as safe. But for the professionals, an ever-growing list of highly technical solutions is required to maintain the operability of their networks and services.

There are inherent risks in forex trading, and as Gollier amongst others has pointed out, those can come in a variety of forms depending on the context of any given trade. But it should never be forgotten that the technology that underpins those markets comes with its own inherent downside. Extraneous security threats and the arsenal of online security required to counter them are not something that any of us should ever fail to consider.

Cover Image: “USD / CNY” (CC BY 2.0) by markhillary

Dragon’s Tale – The Place where you can find the most Original Slot Games


Dragon’s Tale is an online Bitcoin Casino very different from any other Casino in the Bitcoin Industry. Dragon’s Tale turned a Role-play Gambling adventure that goes around a virtual world filled with fantastic islands to explore several games and complete quests.

In this fantastic 3D virtual world, players will find dozens and dozens of fun and exotic mini-games they won’t find in any other casino. Many of these games are simple variants of the traditional classical casino games such as Slots. One of these games is the Element Fire.

Element fire can be found in Ying Wu Dao, which is one of the many islands of Dragon’s Tale. The game is strictly a luck game and is pretty similar to a slot machine casino game. In this game, the player needs to hit 5 different elements: earth, water, fire, wood, and gold. To come out as a winner in this game, the player needs to hit a certain combination of elements. The more fireworks the player hits the more he wins; for instance, if a player gets 4 fire matches he wins 8 times his bet. The betting levels and payouts the game are settled multiple times and to play, the player will need to bet anywhere from a lower bet to the highest. The game begins when 5 fireworks are launched and each one of these fireworks will represent the one various elements.

So, the game is pretty straightforward; the player just needs to launch five rounds of Element Fireworks to display a brilliant pyrotechnic show. If three or more match, he wins.

To have a positive income in this game you can apply some techniques like the martingale method. Come along and visit Dragon’s Tale right now and start playing this and many other exotic casino games!

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