BANGKOK (AP) — Shares have fallen in Asia after China reportedly rebuffed a plan for talks with the U.S. on resolving their dispute over trade and technology. The slow start to the week followed a mixed close Friday on Wall Street, where an afternoon sell-off erased modest gains for the S&P 500 that had the benchmark index on track to eke out its own record high for much of the day.
ANALYST’S VIEWPOINT: “The weekend headlines have not been a blessing for ‘risk sentiment,’” Stephen Innes of OANDA said in a commentary. He added, “the optimist in me is siding on ‘this too shall pass,’ but with markets closed in Japan, China and South Korea as a large part of Asia celebrates the Mid-Autumn festival, it impossible to gauge sentiment in these drastically diminished liquidity conditions.”
After sharing with you guys last week, what I would be looking at on the EURUSD , sharing the scenarios I will be looking at this week on GBPUSD .
After a very interesting looking weekly candle on this pair, I have an overall bearish biais that already started benefiting me last friday with a 2 targets winner (+215 pips & total 5,83 Risk to Reward ratio).
There are a few levels of support and resistance level I will keep an eye where I will look for entries, with an extra closer look to the most recent resistance level which got broken last week and price approuched it after last friday’s selloff on the GBP.
At the level I will be looking either for a rebound and will look to buy for a continuation to the upside; or for selling opportunities if price happens to break back below that level.
Will post an update and a review at the end of the week with how trading went on this pair.
Wishing guys a great week in the markets. Plan YOUR trade and trade YOUR plan!
ETH price is placed nicely above the $240 support area with positive signs against the US Dollar.
There is a new contracting triangle forming with support near $240 on the hourly chart of ETH/USD (data feed via Kraken).
The pair may well break the $247 and $250 resistance levels to trade to a new weekly high.
Ethereum price is consolidating gains against the US Dollar and bitcoin. ETH/USD could trade higher once there is a break above the $250-254 zone.
Ethereum Price Analysis
After trading above the $250 level, ETH price started a short-term consolidation against the US Dollar. The ETH/USD pair formed a high near $254 and corrected below the $240 level recently. There was a break below the $235 level as well, but the price found support near $232. Later, the price started a recovery and moved above the 50% Fib retracement level of the last decline from the $254 high to $232 low.
The upside move found resistance near the $247 and $250 levels. Buyers defended more gains and the price remained below $250. Moreover, buyers failed to push the price above the 61.8% Fib retracement level of the last decline from the $254 high to $232 low. At the moment, there is a new contracting triangle forming with support near $240 on the hourly chart of ETH/USD. The triangle is about to provide the next move either above $247 or below $240. Below $240, the price may perhaps retest the $232 low. On the other hand, a push above the $247 and $250 resistance could spark more gains.
Looking at the chart, ETH price could accelerate higher once there is a break above $250. The next target for buyers may be $254, above which the price may trade towards the $265-270 zone in the near term.
Hourly MACD – The MACD is slightly placed in the bullish zone.
Longhash, a crypto and blockchain media and analysis site, recently launched its own Bitcoin Tracker. In an effort to “offer more peace of mind to investors, regulators and the general public,” users can basically find the origin of BTC, tracking it through the many places it has traveled.
“Compared to the traditional financial system,” Longhash explains, “cryptocurrency can seem murky. Bitcoin transactions are pseudonymous, which makes them attractive to criminals.” And while that statement can for sure trigger a great many Bitcoiners to outrage, and probably should, the site believes mainstreaming crypto adoption will come with the advent of tools for transparency.
It’s also a interesting juxtaposition on where many in the ecosystem seem to be, philosophically. Privacy-based coins, regardless of their actual efficacy, are all the rage as developers look to thwart minders, official and otherwise, to bring about a more cash-like experience.
For Longhash, attracting institutional money seems to outweigh such a trend. “When you send money to a Bitcoin address, who exactly are you dealing with?,” they ask. With that in mind, they’ve created a BTC address search to their homepage. “To be clear,” Longhash stresses, “we are not revealing the identities of Bitcoin holders. We just hope to offer more peace of mind to investors, regulators and the general public. The mainstream perception that cryptocurrency is associated with crime is not good for the industry as a whole.”
Fuzzy, Precise, Address Ratings, and Dirty Money
To discover the site’s version of transparency, users can dial up the Longhash homepage and click on an Address link to enable two types of bitcoin address searches, Fuzzy and Precise. A fuzzy search on the Longhash page asks only for a “few characters of an address.” Users can examine “10,000 richest bitcoin addresses” from richest first on down. Precise searches appear to live up to the title. The curious enter a BTC address, and available to them are balances, BTC sent and received amounts, and transaction history generally.
An interesting quirk of these searches is the Address Rate. “We rate addresses by analyzing their transactions as well as the addresses that it sends money to and receives money from. If we find, for example, that an address is transacting with another address that is affiliated with crime, the first address will get a lower rating. The higher the address rate, the more trustworthy the address,” the company notes.
Like dollars, bitcoin can pass through various routes to wind up in your wallet. Should you want to know more about the address sending them your way, Longhash believes they can provide insight. “We classified four main address types,” they argue. “The light blue refers to a mixing service, which purposely disguises the source of a Bitcoin transaction. The darker blue refers to a cryptocurrency exchange. The magenta refers to a mining pool, and the orange refers to a gambling site. The light purple refers to an old address that is no longer in use.” Probably the most interesting part of the experience is how classifications are charted in colored rings. The inner-inner ring is a BTC’s origin. If that ring was blue, this would mean its first 30 moves came by way of formal crypto exchanges. If the next most inner ring is purple and a mix of orange, this means the BTC had both exchange and gambling site origins. The outer ring then, shows how, in this example, BTC “came from a combination of cryptocurrency exchanges, mixing services and mining pools, gambling sites,” they claim. “So by using this chart, you can see if a Bitcoin has any relationship to dirty money.”
Will you use this BTC address tracker? Let us know in the comments below.
Images courtesy of Shutterstock, Longhash.
At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen ourTools page? You can even look up the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.
The weekend headlines have not been a blessing for ‘risk sentiment” and while the optimist in me is siding on this too shall pass. But with markets closed in Japan, China and South Korea as a large part of Asia celebrates the Mid-Autumn festival, it impossible to gauge sentiment in these drastically diminished liquidity conditions.
While Hong Kong markets are trading poorly but it difficult to separate the wheat from the chaff after last Friday the Pboc announced they would issue T-bills via the HKMA in Hong Kong money markets, which implies driving local interest rates higher. But of course, shelving the US-China trade talks is not rated highly for local risk sentiment either, a bit of a double whammy of sorts today for Hong Kong.
However, it was unlikely that either the US or China was going to pull a rabbit out of the hat before the US midterm election anyway. However, traders remain in wait and see mode while treading rather gingerly in today Asia session. But indeed, this discussion will likely continue throughout the 24-hour trading cycle.
But overall, no one is taking anything for granted and certainly won’t underestimate the possibility of the US announcing reviews of further China tariffs at some point in time given the Trump administration ‘modus operandi’ of applying non-stop pressure.
More risk-sensitive currencies, especially EM are feeling the pinch from weekend headlines bluster, but liquidity is extremely thin and likely contributing to some outsized moves. For reference, G-10 volumes are around 50 % lower as per EBS data. But what action we are seeing is small AUD selling.
Not too surprising the INR back under pressure from rising crude prices and domestic credit wobbles after one of the large Non-Banking Financial Companies missed an interest payment last Friday
Oil investors are trading the weekend news very favourably, Saudi Arabia and Russia ruled out any expeditious supply increases at the Algeria meeting while decidedly ignoring U.S. President Trump’s call to increase supplies and ease price pressures.
Not a great deal of oil market noise today, but traders are quickly pivoting to US inventories data with some small discussion around reports that Cushing Oklahoma delivery point may have declined further in the week ended September 21. But ultimately all these noises pale in the lead up to November 4 Iran sanctions, which continue to underpin sentiment
USD/JPY rose towards the resistance 112.53 and broke above it with a big green candle before correcting to it. I expect a rejection of it at the line followed by a rise towards the resistance 113.16.You can buy this pair now at the line 112.53 with your take profit at 113.16 and stop loss around 112.29.Should there be a clear breakout above 113.16, wait for a correction to it to confirm further bullish momentum of price before you continue long with USD. Short positions may only be advisable in case of a clear breakout below 112.53 with a big red candle followed by a correction to it. Right now buy USD/JPY.
Buy USD/JPY now with your take profit at 113.16 and stop loss around 112.29.
Do you know against which currencies JPY is the most profitable?
On the daily chart above, Ripple rose steadily towards the resistance 0.73859 and is still on an increasing bullish bias. I expect a correction to the just broken zone 0.52169-0.50732 followed by a rejection of price within it for possible upwards movement of price towards 0.73859 and a breakout above it for a further rise in. Wait for the correction to 0.52169-0.50732 and a rejection within it then pick long position within it with your take profit at 0.73859 and stop loss slightly below 0.50732.Should there be a clear breach above 0.73859 with a big green candle, wait for a correction to it before you continue long with Ripple.
Wait for a correction to 0.52169-0.50732 to buy Ripple.
Recently BTC broke above the resistance zone 6608.23-6566.96, price then pulled back to it and was rejected before rallying up. Currently, this crypto is rising towards the resistance 7091.17 and I expect a breach above it for further bullish momentum. If you already picked long positions within the zone, remain long with your ideal target at 7091.17, if you had not bought this crypto yet, wait for a correction to 6608.23-6566.96 and a rejection within it to buy BTC with your take profit at 7091.17 and stop loss slightly below 6566.96.Right now only long positions look ideal and can be recommended on the 4 Hour chart above.
Wait for a correction to 6608.23-6566.96 to buy BTC.
For the past two weeks, Brent retraced to the resistance zone 80.61-78.85, it could not penetrate above it and was rejected, currently it is within it and is moving on a bearish bias. I expect a rally towards the support 61.32 followed by possible breach below it for a further decline in Brent towards 44.48.Short Brent now within 80.61-78.85 with your take profit at 61.32 and stop loss slightly above 80.61.Should there be a clear breakout above 80.16-78.85 with a big green candle, wait for a correction to it confirming possible bullish momentum of Brent before you pick long positions towards 103.30.
Short Brent now within 80.61-78.85.
After breaking above a resistance zone 22912-22680, #NIKKEI rallied up towards a resistance 24178, it was rejected and so could not penetrate above it. Currently it is pulling back to the just broken zone and I expect a rejection of it at the zone for possible bullish momentum towards 24178 and a possible breakout above it for a further rise. Wait for the correction to 22912-22680 and a rejection within it then pick long positions within it with your ideal target at 24178 and stop loss slightly below 22680.Should there be a breakout above 24178 with a big green candle, wait for a correction to it before you continue long.
Wait for a correction to 22912-22680 to buy #NIKKEI.
Light sweet crude oil is trading between the supportive zone 64.18-61.94 and a resistance line 76.80,I expect arise towards 76.80 and a possible breakout above it with a big green candle followed by a correction it for possible bullish momentum towards 93.12.In case there is a rejection at 76.80,wait for the correction to 64.18-61.94 then re-buy #WTI within it with your take profit still at 76.80 and stop loss slightly below 61.94.Should there be a breakout above the resistance line 76.80,wait for a correction to it to confirm bullish momentum then pick long positions at it with your take profit at 93.12.
Wait for a breakout above 76.80.
Do you know against which currencies CFD is the most profitable?