#MarketNews #btc #gold
GOLD VS BITCOIN — WHICH IS WINNING?
The collapse of FTX and the bearish trend of 2022 in the cryptocurrency market are returning investor interest in the traditional instrument, gold. The idea that bitcoin will become the new "digital gold" and the salvation from high inflation is losing its relevance.
Francisco Blanch, head of research at Bank of America, said that the fall of the cryptocurrency is one of the reasons he is bullish on gold. The bank predicts prices to rise to $2,000 per ounce in 2023.
JP Morgan has a similar opinion: “With the Fed on pause, the decline in real yields in the US determines our bullish base price forecast for gold and silver. We forecast gold prices to rise to an average of $1,860 per ounce in the fourth quarter of 2023.”
Meanwhile, according to Bloomberg, miners are having trouble paying off $4 billion in loans and are giving away hundreds of thousands of cryptocurrency mining devices to lenders instead of making payments.
The BTCUSD/GLD (gold price versus bitcoin) chart shows that bitcoin is taking a beating in 2022. If the trend continues, we may see a touch of the lower line (1), which would mean only 7-8 ounces per coin (it was almost 30 a year ago).
To take advantage of trends in the gold and crypto markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Cryptocurrency CFDs are not available to Retail clients in the UK.
GOLD VS BITCOIN — WHICH IS WINNING?
The collapse of FTX and the bearish trend of 2022 in the cryptocurrency market are returning investor interest in the traditional instrument, gold. The idea that bitcoin will become the new "digital gold" and the salvation from high inflation is losing its relevance.
Francisco Blanch, head of research at Bank of America, said that the fall of the cryptocurrency is one of the reasons he is bullish on gold. The bank predicts prices to rise to $2,000 per ounce in 2023.
JP Morgan has a similar opinion: “With the Fed on pause, the decline in real yields in the US determines our bullish base price forecast for gold and silver. We forecast gold prices to rise to an average of $1,860 per ounce in the fourth quarter of 2023.”
Meanwhile, according to Bloomberg, miners are having trouble paying off $4 billion in loans and are giving away hundreds of thousands of cryptocurrency mining devices to lenders instead of making payments.
The BTCUSD/GLD (gold price versus bitcoin) chart shows that bitcoin is taking a beating in 2022. If the trend continues, we may see a touch of the lower line (1), which would mean only 7-8 ounces per coin (it was almost 30 a year ago).
To take advantage of trends in the gold and crypto markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Cryptocurrency CFDs are not available to Retail clients in the UK.
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#MarketNews
THE DOLLAR INDEX IS TESTING THE LOW OF AUGUST
The US employment report will be published today.
After the breakdown of the long-term support line (1) of the trend channel, the futures for the dollar index "froze" near the support line (2), which was drawn from the August low. Market participants expect new data; the economy is forecast to add about 200,000 new jobs in November.
High volatility is expected today, against which various scenarios may materialize. For example, a false break of support at (2) will be a test for traders who expect the negative momentum (November was the worst month in 12 years) to continue.
To take advantage of trends in the currency markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
THE DOLLAR INDEX IS TESTING THE LOW OF AUGUST
The US employment report will be published today.
After the breakdown of the long-term support line (1) of the trend channel, the futures for the dollar index "froze" near the support line (2), which was drawn from the August low. Market participants expect new data; the economy is forecast to add about 200,000 new jobs in November.
High volatility is expected today, against which various scenarios may materialize. For example, a false break of support at (2) will be a test for traders who expect the negative momentum (November was the worst month in 12 years) to continue.
To take advantage of trends in the currency markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Watch FXOpen's November 28 - December 2 Weekly Market Wrap Video
On FXOpen Market News, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports. You can also find text versions of the news reports at our Internet resources.
https://youtu.be/l9NQzvRji28
On FXOpen Market News, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports. You can also find text versions of the news reports at our Internet resources.
https://youtu.be/l9NQzvRji28
YouTube
FXOpen Weekly Market Wrap With Gary Thomson: BRAZIL AND CRYPTO, US DOLLAR FALL, GBP\USD, ENERGY
Watch FXOpen's November 28 - December 2 Weekly Market Wrap Video
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
00:20 - GBP rises to 1.21 against USD in bizarre twist
02:30 - …
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
00:20 - GBP rises to 1.21 against USD in bizarre twist
02:30 - …
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FXOpen official pinned «Watch FXOpen's November 28 - December 2 Weekly Market Wrap Video On FXOpen Market News, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports. You can also find text versions of the news reports at our Internet…»
#MarketNews #Oil
RESTRICTIONS ON RUSSIAN OIL COME INTO EFFECT TODAY
The ceiling price for Russian oil came into force on Monday. In this way, the West is trying to limit Moscow's ability to finance the war in Ukraine, but Russia has said it will not comply with this measure, even if it has to cut production.
Russia is the world's second largest oil exporter, and since the world's key shipping and insurance companies are based in the G7 countries, the restriction could make it harder for Moscow to sell its oil at a higher price.
What was the reaction? OPEC+ decided to keep oil production at the same level. And there are no violent price movements on Monday morning. The fact is that the limitation of the price of Russian oil was known before, and it has already been taken into account in the price. In addition, now the price of oil is at approximately the same distance from the resistance lines (1) and support (2). This is evidence that the market is in balance, which gives an argument in favor of using reversal trading strategies.
To take advantage of price fluctuations in the financial markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
RESTRICTIONS ON RUSSIAN OIL COME INTO EFFECT TODAY
The ceiling price for Russian oil came into force on Monday. In this way, the West is trying to limit Moscow's ability to finance the war in Ukraine, but Russia has said it will not comply with this measure, even if it has to cut production.
Russia is the world's second largest oil exporter, and since the world's key shipping and insurance companies are based in the G7 countries, the restriction could make it harder for Moscow to sell its oil at a higher price.
What was the reaction? OPEC+ decided to keep oil production at the same level. And there are no violent price movements on Monday morning. The fact is that the limitation of the price of Russian oil was known before, and it has already been taken into account in the price. In addition, now the price of oil is at approximately the same distance from the resistance lines (1) and support (2). This is evidence that the market is in balance, which gives an argument in favor of using reversal trading strategies.
To take advantage of price fluctuations in the financial markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
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#MarketNews #Stocks
WHAT'S GOING ON WITH THE YUAN AND CHINESE STOCKS
On Monday, the National Health Commission said there were more than 30,000 new confirmed cases of coronavirus a day earlier. Despite this high number, Chinese stocks soared and the yuan rose to a 12-week high against the dollar.
This comes amid the news that Beijing is easing its tough coronavirus policy after multiple protests.
Another driver was the decision of Morgan Stanley to raise the rating of shares of Chinese companies. The Hong Kong Hang Seng China Enterprises index jumped 5.1%.
Positive news reports can create an emotional desire to invest in Chinese stocks. However, pay attention to the weekly chart of EWH — this is an ETF based on Chinese stocks. Now the price of the asset has reached a long-term trend line, which described the decline in 2021-2022. So there are arguments to suggest that now the price may stop its rapid growth and begin to form a rollback.
To take advantage of popular ETFs price changes, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
WHAT'S GOING ON WITH THE YUAN AND CHINESE STOCKS
On Monday, the National Health Commission said there were more than 30,000 new confirmed cases of coronavirus a day earlier. Despite this high number, Chinese stocks soared and the yuan rose to a 12-week high against the dollar.
This comes amid the news that Beijing is easing its tough coronavirus policy after multiple protests.
Another driver was the decision of Morgan Stanley to raise the rating of shares of Chinese companies. The Hong Kong Hang Seng China Enterprises index jumped 5.1%.
Positive news reports can create an emotional desire to invest in Chinese stocks. However, pay attention to the weekly chart of EWH — this is an ETF based on Chinese stocks. Now the price of the asset has reached a long-term trend line, which described the decline in 2021-2022. So there are arguments to suggest that now the price may stop its rapid growth and begin to form a rollback.
To take advantage of popular ETFs price changes, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
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Overview of FXOpen's Best-performing PAMM Accounts of November 2022
By the beginning of winter, the situation in the financial markets and political arenas has not changed much. Passions have also run high in the cryptocurrency market, nevertheless, traders do not give up trying to make money on their PAMM accounts, and investors are trying to choose the most cautious providers to increase their savings.
With the help of FXOpen's PAMM account service, it is possible to filter PAMM accounts and choose the most stable ones and join their offer. At the beginning of December, we bring to your attention the most persistent and profitable providers for investment.
As of December 1, 2022, 134 active accounts have been opened at FXOpen and 1,837,109.00 USD of subscribers’ funds have been invested, according to Investflow monitoring statistics.
https://fxopen.com/blog/en/overview-of-fxopens-best-performing-pamm-accounts-of-november-2022/
By the beginning of winter, the situation in the financial markets and political arenas has not changed much. Passions have also run high in the cryptocurrency market, nevertheless, traders do not give up trying to make money on their PAMM accounts, and investors are trying to choose the most cautious providers to increase their savings.
With the help of FXOpen's PAMM account service, it is possible to filter PAMM accounts and choose the most stable ones and join their offer. At the beginning of December, we bring to your attention the most persistent and profitable providers for investment.
As of December 1, 2022, 134 active accounts have been opened at FXOpen and 1,837,109.00 USD of subscribers’ funds have been invested, according to Investflow monitoring statistics.
https://fxopen.com/blog/en/overview-of-fxopens-best-performing-pamm-accounts-of-november-2022/
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FXOpen is happy to announce FXOpen TickTrader - Catch ZERO Spreads Contest - Season 3
Dear Forex traders,
FXOpen is happy to announce FXOpen TickTrader - Catch ZERO Spreads Contest - Season 3.
https://www.forex.game/announcements/fxopen-is-happy-to-announce-fxopen-ticktrader-catch-zero-spreads-contest-season-3/
Dear Forex traders,
FXOpen is happy to announce FXOpen TickTrader - Catch ZERO Spreads Contest - Season 3.
https://www.forex.game/announcements/fxopen-is-happy-to-announce-fxopen-ticktrader-catch-zero-spreads-contest-season-3/
Forex Game ☑️ Forex Demo Contests 2022 and Free Trading Competitions
FXOpen is happy to announce FXOpen TickTrader - Catch ZERO Spreads Contest - Season 3
Dear Forex traders, FXOpen is happy to announce FXOpen TickTrader - Catch ZERO Spreads Contest - Season 3. How to take part?You have to catch a ZERO spreads screenshot and submit it by posting your entry into the contest thread on the forum. Note that the…
#MarketNew #USDCAD
CANADIAN DOLLAR FALLS TO 1-MONTH LOW
On Tuesday, USDCAD rose to 1.3675, which means the weakening of the Canadian dollar to a minimum of 1 month. Analysts attribute this to the decline in oil prices.
Among the G10 currencies, only the Norwegian krone fell further. Norway, like Canada, is a major oil producer.
Note that on the USDCAD daily chart, Tuesday's candlestick breaks an important trend line (1). Will the further weakening of the Loonie continue?
The Bank of Canada’s decision about the size of the interest rate will be published today, so bursts of volatility are expected. It is quite possible that against the backdrop of the news, the Canadian dollar will strengthen, forming a pattern of a false breakout of the trend line (1).
To control risks and take advantage of trends in the forex markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
CANADIAN DOLLAR FALLS TO 1-MONTH LOW
On Tuesday, USDCAD rose to 1.3675, which means the weakening of the Canadian dollar to a minimum of 1 month. Analysts attribute this to the decline in oil prices.
Among the G10 currencies, only the Norwegian krone fell further. Norway, like Canada, is a major oil producer.
Note that on the USDCAD daily chart, Tuesday's candlestick breaks an important trend line (1). Will the further weakening of the Loonie continue?
The Bank of Canada’s decision about the size of the interest rate will be published today, so bursts of volatility are expected. It is quite possible that against the backdrop of the news, the Canadian dollar will strengthen, forming a pattern of a false breakout of the trend line (1).
To control risks and take advantage of trends in the forex markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
#MarketNew #btc
BANK ANALYST WARNS OF POSSIBLE BTC DROP TO $5K
According to Eric Robertson, head of global research at Standard Chartered Bank, bitcoin is at risk of falling another 70% to $5,000 next year.
Eric warned that bitcoin could make a "surprise move" in 2023, catching investors who think the crypto market has bottomed out by surprise. The fall could be driven by a sharp rise in interest rates and more crypto-currency bankruptcies and a drop in investor confidence in digital assets.
He also noted that a drop in the price of bitcoin would likely spur investor interest in physical gold, pushing the precious metal's price up about 30% to $2,250 an ounce or more.
Note that December is a special month for cryptocurrencies, when the market is especially volatile, and the price of bitcoin reaches important extremes. However, so far, in the first days of December, the BTCUSD quote is clamped in anticipation of the arrival of new news drivers. Will they be bullish or bearish?
Watch for breakout signals of the current pattern (1) of consolidation.
To take advantage of the rise and fall of the price of gold and cryptocurrencies, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Cryptocurrency CFDs are not available to Retail clients in the UK.
BANK ANALYST WARNS OF POSSIBLE BTC DROP TO $5K
According to Eric Robertson, head of global research at Standard Chartered Bank, bitcoin is at risk of falling another 70% to $5,000 next year.
Eric warned that bitcoin could make a "surprise move" in 2023, catching investors who think the crypto market has bottomed out by surprise. The fall could be driven by a sharp rise in interest rates and more crypto-currency bankruptcies and a drop in investor confidence in digital assets.
He also noted that a drop in the price of bitcoin would likely spur investor interest in physical gold, pushing the precious metal's price up about 30% to $2,250 an ounce or more.
Note that December is a special month for cryptocurrencies, when the market is especially volatile, and the price of bitcoin reaches important extremes. However, so far, in the first days of December, the BTCUSD quote is clamped in anticipation of the arrival of new news drivers. Will they be bullish or bearish?
Watch for breakout signals of the current pattern (1) of consolidation.
To take advantage of the rise and fall of the price of gold and cryptocurrencies, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Cryptocurrency CFDs are not available to Retail clients in the UK.
#MarketNew
THE PENTAGON SIGNS A $9 BILLION CONTRACT
On Wednesday, the Pentagon announced that it has awarded cloud computing contracts to Amazon, Google, Microsoft and Oracle. The total cost of services could reach $9 billion over the period up to 2028.
Recall that the conclusion of the contract was preceded by a long history that began in 2019, when the Pentagon had chosen Miscrosoft as the sole service provider, and Amazon sued. Also the dissatisfaction was expressed by Oracle.
Now that the situation has been resolved, the shares of AMZN, GOOG, MSFT, ORCL have received a serious argument from the point of view of fundamental analysis. The cloud business of these companies will develop in the long term.
Is it worth investing in these stocks right now?
First of all, the day before yesterday, Bloomberg reported that analysts and US bank executives are warning that 2023 will be a year of recession and falling profits.
Secondly, from a technical point of view, the shares look overbought. Take, for example, the weekly ORCL chart. The share price has reached the upper limit (1) of the descending channel, and it looks like it is forming a bearish reversal.
Both arguments play in favor of the view that a better time to buy stocks may yet be ahead.
To take advantage of fluctuations in the stocks of large technology companies, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
THE PENTAGON SIGNS A $9 BILLION CONTRACT
On Wednesday, the Pentagon announced that it has awarded cloud computing contracts to Amazon, Google, Microsoft and Oracle. The total cost of services could reach $9 billion over the period up to 2028.
Recall that the conclusion of the contract was preceded by a long history that began in 2019, when the Pentagon had chosen Miscrosoft as the sole service provider, and Amazon sued. Also the dissatisfaction was expressed by Oracle.
Now that the situation has been resolved, the shares of AMZN, GOOG, MSFT, ORCL have received a serious argument from the point of view of fundamental analysis. The cloud business of these companies will develop in the long term.
Is it worth investing in these stocks right now?
First of all, the day before yesterday, Bloomberg reported that analysts and US bank executives are warning that 2023 will be a year of recession and falling profits.
Secondly, from a technical point of view, the shares look overbought. Take, for example, the weekly ORCL chart. The share price has reached the upper limit (1) of the descending channel, and it looks like it is forming a bearish reversal.
Both arguments play in favor of the view that a better time to buy stocks may yet be ahead.
To take advantage of fluctuations in the stocks of large technology companies, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
#MarketNews #Cryptocurrency #btc
BANK ANALYST WARNS OF POSSIBLE BTC DROP TO $5K
According to Eric Robertson, head of global research at Standard Chartered Bank, bitcoin is at risk of falling another 70% to $5,000 next year.
Eric warned that bitcoin could make a "surprise move" in 2023, catching investors who think the crypto market has bottomed out by surprise. The fall could be driven by a sharp rise in interest rates and more crypto-currency bankruptcies and a drop in investor confidence in digital assets.
He also noted that a drop in the price of bitcoin would likely spur investor interest in physical gold, pushing the precious metal's price up about 30% to $2,250 an ounce or more.
Note that December is a special month for cryptocurrencies, when the market is especially volatile, and the price of bitcoin reaches important extremes. However, so far, in the first days of December, the BTCUSD quote is clamped in anticipation of the arrival of new news drivers. Will they be bullish or bearish?
Watch for breakout signals of the current pattern (1) of consolidation.
To take advantage of the rise and fall of the price of gold and cryptocurrencies, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Cryptocurrency CFDs are not available to Retail clients in the UK.
BANK ANALYST WARNS OF POSSIBLE BTC DROP TO $5K
According to Eric Robertson, head of global research at Standard Chartered Bank, bitcoin is at risk of falling another 70% to $5,000 next year.
Eric warned that bitcoin could make a "surprise move" in 2023, catching investors who think the crypto market has bottomed out by surprise. The fall could be driven by a sharp rise in interest rates and more crypto-currency bankruptcies and a drop in investor confidence in digital assets.
He also noted that a drop in the price of bitcoin would likely spur investor interest in physical gold, pushing the precious metal's price up about 30% to $2,250 an ounce or more.
Note that December is a special month for cryptocurrencies, when the market is especially volatile, and the price of bitcoin reaches important extremes. However, so far, in the first days of December, the BTCUSD quote is clamped in anticipation of the arrival of new news drivers. Will they be bullish or bearish?
Watch for breakout signals of the current pattern (1) of consolidation.
To take advantage of the rise and fall of the price of gold and cryptocurrencies, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Cryptocurrency CFDs are not available to Retail clients in the UK.
#MarketNews
THE PRICE OF OIL SETS MINIMUM OF THE YEAR
The balance we wrote about on Monday did not last long. The price turned down from the level (1) of resistance 82.50.
On Wednesday, the price of futures on the NYMEX exchange broke through the low of November, setting the low of the year, and updated it yesterday.
Note that the decline in oil prices takes place against the backdrop of Xi Jinping's visit to Saudi Arabia, which is estimated in the media as a blow to the petrodollar.
There are also concerns in the market about oil demand due to a possible recession in 2023. The focus of market participants is the Fed meeting which will take place next week. It is possible that oil is getting cheaper under pressure from the US authorities, who are thus struggling with high inflation.
So far, the price is in the area of the median line (2) of the long-term descending channel, built in blue on the daily chart. In the immediate vicinity is a psychological barrier of 70 dollars per barrel. It is possible that the bears will attempt to attack him next week.
To take advantage of fluctuations in oil prices, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
THE PRICE OF OIL SETS MINIMUM OF THE YEAR
The balance we wrote about on Monday did not last long. The price turned down from the level (1) of resistance 82.50.
On Wednesday, the price of futures on the NYMEX exchange broke through the low of November, setting the low of the year, and updated it yesterday.
Note that the decline in oil prices takes place against the backdrop of Xi Jinping's visit to Saudi Arabia, which is estimated in the media as a blow to the petrodollar.
There are also concerns in the market about oil demand due to a possible recession in 2023. The focus of market participants is the Fed meeting which will take place next week. It is possible that oil is getting cheaper under pressure from the US authorities, who are thus struggling with high inflation.
So far, the price is in the area of the median line (2) of the long-term descending channel, built in blue on the daily chart. In the immediate vicinity is a psychological barrier of 70 dollars per barrel. It is possible that the bears will attempt to attack him next week.
To take advantage of fluctuations in oil prices, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
#MarketNews #Cryptocurrency #btc
СOUNTRIES THAT WILL BENEFIT FROM THE GROWTH OF BITCOIN
Venture capitalist and one of the first investors in bitcoin, Tim Draper, suggested which countries would benefit from the rise in the price of bitcoin.
"They are going to go from the poorest to probably some of the wealthiest countries in the world over the next 40 years because they’ve done it. El Salvador and Central African Republic. And then Malta, of course, is going to benefit big. Switzerland is benefiting big because they’re making Bitcoin a part of their economy.”
Tim noted that the widespread adoption of cryptocurrencies requires the participation of women, who make about 80% of household spending, but do not actively use cryptocurrencies – progress in this direction is rather slow.
Meanwhile, the price of BTCUSD continues to consolidate around 17k. Note that on the weekly chart the current price is near the support level (1), drawn through the extrema of previous years with a certain degree of subjectivity. The market is calming down after the panic news about the collapse of the FTX exchange. It is possible that we will see an attempt to rebound from this line, which will cheer up the people of El Salvador and other countries where people invest in bitcoin.
To take advantage of the rise and fall of cryptocurrencies, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Cryptocurrency CFDs are not available to Retail clients in the UK.
СOUNTRIES THAT WILL BENEFIT FROM THE GROWTH OF BITCOIN
Venture capitalist and one of the first investors in bitcoin, Tim Draper, suggested which countries would benefit from the rise in the price of bitcoin.
"They are going to go from the poorest to probably some of the wealthiest countries in the world over the next 40 years because they’ve done it. El Salvador and Central African Republic. And then Malta, of course, is going to benefit big. Switzerland is benefiting big because they’re making Bitcoin a part of their economy.”
Tim noted that the widespread adoption of cryptocurrencies requires the participation of women, who make about 80% of household spending, but do not actively use cryptocurrencies – progress in this direction is rather slow.
Meanwhile, the price of BTCUSD continues to consolidate around 17k. Note that on the weekly chart the current price is near the support level (1), drawn through the extrema of previous years with a certain degree of subjectivity. The market is calming down after the panic news about the collapse of the FTX exchange. It is possible that we will see an attempt to rebound from this line, which will cheer up the people of El Salvador and other countries where people invest in bitcoin.
To take advantage of the rise and fall of cryptocurrencies, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Cryptocurrency CFDs are not available to Retail clients in the UK.
Watch FXOpen's December 5 - 9 Weekly Market Wrap Video
On FXOpen Market News, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports. You can also find text versions of the news reports at our Internet resources.
https://youtu.be/X4y3QVZmVk0
On FXOpen Market News, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports. You can also find text versions of the news reports at our Internet resources.
https://youtu.be/X4y3QVZmVk0
YouTube
FXOpen Weekly Market Wrap With Gary Thomson : Brent oil rises, Falling Pound, S&P500,
Watch FXOpen's December 5 - 9 Weekly Market Wrap Video
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
- Brent Crude Oil is on the up as G7 price cap deals blow
- UK's recession bites…
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
- Brent Crude Oil is on the up as G7 price cap deals blow
- UK's recession bites…
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#MarketNew
AN IMPORTANT WEEK BEFORE THE HOLIDAYS
Bursts of volatility are expected this week as major news releases approach:
→ Monday: speech by a representative of the Bank of Canada
→ Tuesday: speeches by representatives of the Bank of England and the Bank of Australia, US inflation data;
→ Wednesday: news from the US Federal Reserve (!);
→ Thursday: news from the Bank of Switzerland, England, speech by the ECB representative, a package of statistics on the US economy.
It looks like we are expecting currency jumps before the “Christmas calm”.
The dollar index is in "waiting", forming a local triangle pattern (1), which suggests that so far the market is in a balance of supply and demand. But upcoming events have a high potential to create an impulse that will upset the balance. It is even possible that the dollar may return to the ascending channel (shown in yellow).
To take advantage of currency fluctuations, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
AN IMPORTANT WEEK BEFORE THE HOLIDAYS
Bursts of volatility are expected this week as major news releases approach:
→ Monday: speech by a representative of the Bank of Canada
→ Tuesday: speeches by representatives of the Bank of England and the Bank of Australia, US inflation data;
→ Wednesday: news from the US Federal Reserve (!);
→ Thursday: news from the Bank of Switzerland, England, speech by the ECB representative, a package of statistics on the US economy.
It looks like we are expecting currency jumps before the “Christmas calm”.
The dollar index is in "waiting", forming a local triangle pattern (1), which suggests that so far the market is in a balance of supply and demand. But upcoming events have a high potential to create an impulse that will upset the balance. It is even possible that the dollar may return to the ascending channel (shown in yellow).
To take advantage of currency fluctuations, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
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#MarketNew #StockMarket
THE STOCK MARKET IS PREPARING FOR A TORNADO
On Monday, US stocks rose on a cautious positivity. Among the gainers are MSFT shares (nearly +3%), as Microsoft plans to buy a stake in the London Stock Exchange Group.
However, today, the release of data on inflation in the US is planned, tomorrow, we will hear from the Fed, and on Thursday, from the ECB. And moods will swirl like a tornado.
Reuters reports the opinion of Patrick Spencer, vice chairman of Baird investment bank, who believes that if today's consumer price index is weak, this will serve as a driver for the growth of shares.
The two-day chart of futures for the S&P 500 index shows that the price of the contract is near the upper line of the descending channel.
The bulls tried to push the price higher (1), but followed by (2) the response of the bears. We have a bearish engulfing pattern. Although it is not perfect in form, it clearly makes it clear that the strength of offers is high near the resistance line, and the bulls need momentum. Undoubtedly, favorable news on inflation can give it.
To take advantage of trends in the US stock markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
THE STOCK MARKET IS PREPARING FOR A TORNADO
On Monday, US stocks rose on a cautious positivity. Among the gainers are MSFT shares (nearly +3%), as Microsoft plans to buy a stake in the London Stock Exchange Group.
However, today, the release of data on inflation in the US is planned, tomorrow, we will hear from the Fed, and on Thursday, from the ECB. And moods will swirl like a tornado.
Reuters reports the opinion of Patrick Spencer, vice chairman of Baird investment bank, who believes that if today's consumer price index is weak, this will serve as a driver for the growth of shares.
The two-day chart of futures for the S&P 500 index shows that the price of the contract is near the upper line of the descending channel.
The bulls tried to push the price higher (1), but followed by (2) the response of the bears. We have a bearish engulfing pattern. Although it is not perfect in form, it clearly makes it clear that the strength of offers is high near the resistance line, and the bulls need momentum. Undoubtedly, favorable news on inflation can give it.
To take advantage of trends in the US stock markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
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#MarketNew #TSLA
MUSK LOSES TITLE OF WORLD'S RICHEST MAN
Yesterday, the news report on inflation in the US was released — it decreased. In fact = 7.1%, expected = 7.3%. Biden commented that inflation is declining, but there is still a lot of work to be done with the hope that prices will normalize at the end of 2023. That is, high inflation will be with us for a long time.
On the back of news of inflation, stock prices rose sharply, but then almost immediately fell, forming an intraday bearish engulfing pattern (see yesterday's article with the S&P 500 chart), which confirms the strength of the bears in the market.
TSLA acted worse than the market, they set a minimum of a year, dropping close to the psychological mark of $160 per share. As a result, Elon Musk is no longer the richest man on the planet.
Elon is busy with Twitter. The media even say that the managers of Tesla, SpaceX are helping him. Musk himself comments: “I will make sure that Tesla shareholders benefit from Twitter in the long run.”
Assessing the perspective on the chart (1 candle = 3 days) of TSLA shares, it can be called vague. The share price has reached the lower (1) channel line - that is, traders can count on a rebound. But the trend remains down. Also note that the TSLA has been underperforming the S&P 500 for 2 months now.
To take advantage of the rise and fall of popular stocks, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
MUSK LOSES TITLE OF WORLD'S RICHEST MAN
Yesterday, the news report on inflation in the US was released — it decreased. In fact = 7.1%, expected = 7.3%. Biden commented that inflation is declining, but there is still a lot of work to be done with the hope that prices will normalize at the end of 2023. That is, high inflation will be with us for a long time.
On the back of news of inflation, stock prices rose sharply, but then almost immediately fell, forming an intraday bearish engulfing pattern (see yesterday's article with the S&P 500 chart), which confirms the strength of the bears in the market.
TSLA acted worse than the market, they set a minimum of a year, dropping close to the psychological mark of $160 per share. As a result, Elon Musk is no longer the richest man on the planet.
Elon is busy with Twitter. The media even say that the managers of Tesla, SpaceX are helping him. Musk himself comments: “I will make sure that Tesla shareholders benefit from Twitter in the long run.”
Assessing the perspective on the chart (1 candle = 3 days) of TSLA shares, it can be called vague. The share price has reached the lower (1) channel line - that is, traders can count on a rebound. But the trend remains down. Also note that the TSLA has been underperforming the S&P 500 for 2 months now.
To take advantage of the rise and fall of popular stocks, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
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FXOpen adds TradingView to the Suite of Trading Platforms
FXOpen partners with TradingView, a unique charting and trading platform for traders and investors with over 30 million registered account holders.
Our customers from all around the globe have now gained access to one of the industry's leading live trading platforms thanks to integration with TradingView.
https://fxopen.com/en-gb/news/fxopen-adds-tradingview-to-the-suite-of-trading-platforms/
FXOpen partners with TradingView, a unique charting and trading platform for traders and investors with over 30 million registered account holders.
Our customers from all around the globe have now gained access to one of the industry's leading live trading platforms thanks to integration with TradingView.
https://fxopen.com/en-gb/news/fxopen-adds-tradingview-to-the-suite-of-trading-platforms/
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