Happy 2023!
TOP 9 CHARLIE MUNGER QUOTES
FXOpen, your trusted broker, wishes you to achieve your financial goals in the new year in an efficient manner.
For your inspiration, below are 9 quotes from Charlie Munger who turned 99 yesterday.
1. "People calculate too much and think too little."
2. "We have three baskets: in, out, and too tough."
3. “There isn't a single formula. You need to know a lot about business and human nature and the numbers… It is unreasonable to expect that there is a magic system that will do it for you."
4. “I try to get rid of people who always confidently answer questions about which they don't have any real knowledge."
5. "The big money is not in the buying and the selling, but in the waiting."
6. "We look for a horse with one chance in two of winning and which pays you three to one.”
7. “We all are learning, modifying, or destroying ideas all the time. Rapid destruction of your ideas when the time is right is one of the most valuable qualities you can acquire. You must force yourself to consider arguments on the other side.”
8. “Develop into a lifelong learner through voracious reading; cultivate curiosity and strive to become a little wiser every day.”
9. "Like Warren [Buffett], I had a considerable passion to get rich, not because I wanted Ferraris - I wanted the independence. I desperately wanted it."
TOP 9 CHARLIE MUNGER QUOTES
FXOpen, your trusted broker, wishes you to achieve your financial goals in the new year in an efficient manner.
For your inspiration, below are 9 quotes from Charlie Munger who turned 99 yesterday.
1. "People calculate too much and think too little."
2. "We have three baskets: in, out, and too tough."
3. “There isn't a single formula. You need to know a lot about business and human nature and the numbers… It is unreasonable to expect that there is a magic system that will do it for you."
4. “I try to get rid of people who always confidently answer questions about which they don't have any real knowledge."
5. "The big money is not in the buying and the selling, but in the waiting."
6. "We look for a horse with one chance in two of winning and which pays you three to one.”
7. “We all are learning, modifying, or destroying ideas all the time. Rapid destruction of your ideas when the time is right is one of the most valuable qualities you can acquire. You must force yourself to consider arguments on the other side.”
8. “Develop into a lifelong learner through voracious reading; cultivate curiosity and strive to become a little wiser every day.”
9. "Like Warren [Buffett], I had a considerable passion to get rich, not because I wanted Ferraris - I wanted the independence. I desperately wanted it."
🔥2
#MarketNews
WHAT TO EXPECT FROM THE STOCK MARKET IN 2023
→ High inflation
→ Recession
→ Tightening policy from the Central Bank
→ Geopolitics
Perhaps these topics will be the main drivers in the stock market in 2023.
Reuters writes that investors hope that the V-shaped pattern for the global economy will end with a comfortable rise in stocks.
JP Morgan strategists predict "market turmoil and an economic downturn" in early 2023, but then a more favorable second half of the year when the Fed finally decides to ease.
A curious chart (1) from Refinitiv indicates that when the World PMI is below the 50 level, this is a bottom in the stock market. This is a hint that we have seen an important low in the fall of 2022.
Here is another interesting observation — the level (2) near 3500 on the S&P-500 futures chart is 50% from the lows of 2018-2020 and the all-time high. Therefore, theoretically, support can be expected from this level. In practice, this is what happens.
To take advantage of investments in global 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.
WHAT TO EXPECT FROM THE STOCK MARKET IN 2023
→ High inflation
→ Recession
→ Tightening policy from the Central Bank
→ Geopolitics
Perhaps these topics will be the main drivers in the stock market in 2023.
Reuters writes that investors hope that the V-shaped pattern for the global economy will end with a comfortable rise in stocks.
JP Morgan strategists predict "market turmoil and an economic downturn" in early 2023, but then a more favorable second half of the year when the Fed finally decides to ease.
A curious chart (1) from Refinitiv indicates that when the World PMI is below the 50 level, this is a bottom in the stock market. This is a hint that we have seen an important low in the fall of 2022.
Here is another interesting observation — the level (2) near 3500 on the S&P-500 futures chart is 50% from the lows of 2018-2020 and the all-time high. Therefore, theoretically, support can be expected from this level. In practice, this is what happens.
To take advantage of investments in global 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.
#Cryptocurrency
BITCOIN PRICE PREDICTIONS FOR 2023
The bitcoin rate met the New Year calmly, in the middle of the 18300-15600 corridor.
How will the price change in the future?
Let's imagine a plan for the beginning of the year. If the bearish trend continues and BTCUSD makes a bearish breakout of the 15600 level, then the next support may be the area around 12250, since this level previously acted as an important resistance, and the principle of mirror levels manifests itself quite clearly on the cryptocurrency chart (as the arrows show).
To help you form your own expectation of the price of bitcoin for 2023, we present a selection of forecasts from reputable sources:
Coinbase: https://lnkd.in/eZXa8meu
Messari https://lnkd.in/ecCBypB9
a16z https://lnkd.in/ezJjAT5u
Pantera Capital https://lnkd.in/eFYkcsNQ
Arca Funds https://lnkd.in/eTF6K8ZP
New Order DAO https://lnkd.in/ef_9YqWF
Crypto_com https://lnkd.in/e3Yj7_Qz
Huobi Research https://lnkd.in/e6SbRqSa
Binance https://lnkd.in/eU62aVZV
Delphi Digital https://lnkd.in/eHwjAtr2
DeFi Lama https://lnkd.in/eUZvdK2H
Cointelegraph https://lnkd.in/eFGnb_XG
CoinDesk https://lnkd.in/ec6kHAfy
The Block https://lnkd.in/eSQQHvyd
Bloomberg https://lnkd.in/e-2yYBEF
Forbes https://lnkd.in/ebg7vxeQ
Saxo Bank https://lnkd.in/e_TAY9kg
VanEck https://lnkd.in/eRPeETKV
PwC https://lnkd.in/eMDtZ42r
Accenture https://lnkd.in/esh65Q6F
We wish you successful investments in cryptocurrencies in 2023 with FXOpen, your reliable broker.
BITCOIN PRICE PREDICTIONS FOR 2023
The bitcoin rate met the New Year calmly, in the middle of the 18300-15600 corridor.
How will the price change in the future?
Let's imagine a plan for the beginning of the year. If the bearish trend continues and BTCUSD makes a bearish breakout of the 15600 level, then the next support may be the area around 12250, since this level previously acted as an important resistance, and the principle of mirror levels manifests itself quite clearly on the cryptocurrency chart (as the arrows show).
To help you form your own expectation of the price of bitcoin for 2023, we present a selection of forecasts from reputable sources:
Coinbase: https://lnkd.in/eZXa8meu
Messari https://lnkd.in/ecCBypB9
a16z https://lnkd.in/ezJjAT5u
Pantera Capital https://lnkd.in/eFYkcsNQ
Arca Funds https://lnkd.in/eTF6K8ZP
New Order DAO https://lnkd.in/ef_9YqWF
Crypto_com https://lnkd.in/e3Yj7_Qz
Huobi Research https://lnkd.in/e6SbRqSa
Binance https://lnkd.in/eU62aVZV
Delphi Digital https://lnkd.in/eHwjAtr2
DeFi Lama https://lnkd.in/eUZvdK2H
Cointelegraph https://lnkd.in/eFGnb_XG
CoinDesk https://lnkd.in/ec6kHAfy
The Block https://lnkd.in/eSQQHvyd
Bloomberg https://lnkd.in/e-2yYBEF
Forbes https://lnkd.in/ebg7vxeQ
Saxo Bank https://lnkd.in/e_TAY9kg
VanEck https://lnkd.in/eRPeETKV
PwC https://lnkd.in/eMDtZ42r
Accenture https://lnkd.in/esh65Q6F
We wish you successful investments in cryptocurrencies in 2023 with FXOpen, your reliable broker.
#MarketNews #Gold
GOLD STARTS 2023 WITH STRONG GROWTH
As a result of the price growth in the first trading days of 2023, gold futures rose almost to the highs of the summer of 2022. This may have been facilitated by portfolio rebalancing at the beginning of the year by institutional investors.
Today, the price of gold will be influenced by data on the minutes of the Fed meeting, but how will the market behave in a 1-year perspective?
The unfolding recession and geopolitical tensions are likely to increase the attractiveness of gold as a safe haven in 2023. Most experts assume that gold will rise in price from current levels. Here are their gold price predictions for the end of 2023:
Société Generale - $1,550
Fitch - $1,600
ANZ - $1,650
Trading Economics - $1,711
Reuters - $1,750
Wallet Investor - $1,898
ABN AMRO - $1,900
Commerzbank - $1,900
Wells Fargo - $1,900 - $2,000
Saxo Bank - $3,000
Gov Capital - $3,100
Swiss Asia Capital - $4,000
Is it sensible to buy gold right now? Hardly. The price is near the upper line (1) of the trading channel marked in green. Perhaps a more reasoned entry into a position from the point of view of technical analysis will be provided if the price drops to its lower (2) line.
To take advantage of the movement of gold pricess, 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.
GOLD STARTS 2023 WITH STRONG GROWTH
As a result of the price growth in the first trading days of 2023, gold futures rose almost to the highs of the summer of 2022. This may have been facilitated by portfolio rebalancing at the beginning of the year by institutional investors.
Today, the price of gold will be influenced by data on the minutes of the Fed meeting, but how will the market behave in a 1-year perspective?
The unfolding recession and geopolitical tensions are likely to increase the attractiveness of gold as a safe haven in 2023. Most experts assume that gold will rise in price from current levels. Here are their gold price predictions for the end of 2023:
Société Generale - $1,550
Fitch - $1,600
ANZ - $1,650
Trading Economics - $1,711
Reuters - $1,750
Wallet Investor - $1,898
ABN AMRO - $1,900
Commerzbank - $1,900
Wells Fargo - $1,900 - $2,000
Saxo Bank - $3,000
Gov Capital - $3,100
Swiss Asia Capital - $4,000
Is it sensible to buy gold right now? Hardly. The price is near the upper line (1) of the trading channel marked in green. Perhaps a more reasoned entry into a position from the point of view of technical analysis will be provided if the price drops to its lower (2) line.
To take advantage of the movement of gold pricess, 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 #Gold #Silver
A RARE DIVERGENCE IN THE GOLD AND SILVER MARKETS
Investors are evaluating yesterday's minutes of the Fed's December meeting, which showed that officials agree that the pace of aggressive interest rate hikes should be slowed down.
Financial markets are reacting moderately — the stock index rose slightly, the dollar index fell slightly.
But in the futures market of gold and silver at the beginning of the year there was a curious situation:
→ Silver is turning down from the December resistance level (1);
→ Gold has broken through the December resistance (2), and is trying to gain a foothold above it.
Despite the fact that the prices of precious metals have a stable correlation with each other, such a discrepancy sometimes happens. It can be rationally expected that after price divergence, price convergence will follow.
To take advantage of rising and falling prices for metals, oil and gas, 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.
A RARE DIVERGENCE IN THE GOLD AND SILVER MARKETS
Investors are evaluating yesterday's minutes of the Fed's December meeting, which showed that officials agree that the pace of aggressive interest rate hikes should be slowed down.
Financial markets are reacting moderately — the stock index rose slightly, the dollar index fell slightly.
But in the futures market of gold and silver at the beginning of the year there was a curious situation:
→ Silver is turning down from the December resistance level (1);
→ Gold has broken through the December resistance (2), and is trying to gain a foothold above it.
Despite the fact that the prices of precious metals have a stable correlation with each other, such a discrepancy sometimes happens. It can be rationally expected that after price divergence, price convergence will follow.
To take advantage of rising and falling prices for metals, oil and gas, 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 #Oil
RECORD DROP IN OIL PRICES
Oil futures prices started 2023 with the biggest two-day drop in three decades (as reported by Reuters). During January 3-4, the value of the futures contract decreased by about 9%.
The reasons are fears of an unfolding recession, the strengthening of the coronavirus pandemic in China (in Europe, by the way, passengers who have flown from China are already being tested).
Also, the force of the decline was affected by the fact that professional traders (who are more courageous and knowledgeable when opening short positions) returned from vacations. This thesis is confirmed by the dynamics of volumes. The price grew on low volumes at the end of December (1), but the decline occurred on growing volumes (2), which indicates the strength of the pressure of sellers.
On January 5-6, the decline stopped. It looks like a technical correction within the oversold market. A more serious rise in prices is real, for example, on the possible news about the reduction in oil production from OPEC+ (which are interested in keeping the price around $75 per contract).
If the current bearish trend continues, then in January we can see a test of the 2022 low around the $70 per contract level (3) reached in December. This will be an important test of the forces of demand.
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.
RECORD DROP IN OIL PRICES
Oil futures prices started 2023 with the biggest two-day drop in three decades (as reported by Reuters). During January 3-4, the value of the futures contract decreased by about 9%.
The reasons are fears of an unfolding recession, the strengthening of the coronavirus pandemic in China (in Europe, by the way, passengers who have flown from China are already being tested).
Also, the force of the decline was affected by the fact that professional traders (who are more courageous and knowledgeable when opening short positions) returned from vacations. This thesis is confirmed by the dynamics of volumes. The price grew on low volumes at the end of December (1), but the decline occurred on growing volumes (2), which indicates the strength of the pressure of sellers.
On January 5-6, the decline stopped. It looks like a technical correction within the oversold market. A more serious rise in prices is real, for example, on the possible news about the reduction in oil production from OPEC+ (which are interested in keeping the price around $75 per contract).
If the current bearish trend continues, then in January we can see a test of the 2022 low around the $70 per contract level (3) reached in December. This will be an important test of the forces of demand.
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.
👍2
#MarketNews #Cryptocurrency
IN 2022, THE VOLUME OF PAYMENTS IN CRYPTOCURRENCIES GREW BY MORE THAN 60%
As shown in the table below, which is plotted based on the BTCUSD rate on January 1st for each year, 2022 was the second worst performance on record.
2022 -64%
2021 +62%
2020 +307%
2019 +87%
2018 -72%
2017 +1.200%
2016 +129%
2015 +38%
2014 -58%
2013 +5.569%
2012 +152%
However, despite the bear market that is still going on, there is an important achievement for the cryptocurrency market. According to payment service CoinGate, purchases using cryptocurrencies have grown by more than 60% over the past year.
We can safely assume that a similar trend is present in other services that allow trading with cryptocurrencies. This confirms that cryptocurrencies have intrinsic value and loyal followers. This means that 2023 could be a year with a plus sign, as it was after the BTCUSD declines in 2014 and 2018.
Note that the long-term curved trend line (1), built on a graph with a logarithmic scale, adds hope to the bulls.
To take advantage of trends in the cryptocurrency 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.
IN 2022, THE VOLUME OF PAYMENTS IN CRYPTOCURRENCIES GREW BY MORE THAN 60%
As shown in the table below, which is plotted based on the BTCUSD rate on January 1st for each year, 2022 was the second worst performance on record.
2022 -64%
2021 +62%
2020 +307%
2019 +87%
2018 -72%
2017 +1.200%
2016 +129%
2015 +38%
2014 -58%
2013 +5.569%
2012 +152%
However, despite the bear market that is still going on, there is an important achievement for the cryptocurrency market. According to payment service CoinGate, purchases using cryptocurrencies have grown by more than 60% over the past year.
We can safely assume that a similar trend is present in other services that allow trading with cryptocurrencies. This confirms that cryptocurrencies have intrinsic value and loyal followers. This means that 2023 could be a year with a plus sign, as it was after the BTCUSD declines in 2014 and 2018.
Note that the long-term curved trend line (1), built on a graph with a logarithmic scale, adds hope to the bulls.
To take advantage of trends in the cryptocurrency 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.
👍2
Watch FXOpen's January 2 - 6 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.
- What to expect in stock market in 2023
- British pound crashes against USD
- USD rally short-lived
- Gold starts 2023 with strong growth
Watch our short and informative video, and stay updated with FXOpen.
https://youtu.be/zntqr9qSHyk
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
- What to expect in stock market in 2023
- British pound crashes against USD
- USD rally short-lived
- Gold starts 2023 with strong growth
Watch our short and informative video, and stay updated with FXOpen.
https://youtu.be/zntqr9qSHyk
YouTube
FXOpen Weekly Market Wrap With Gary Thomson: Stock Market 2023, British pound, USD, Gold Starts 2023
Watch FXOpen's January 2 - 6 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.
- What to expect in stock market in 2023
- British pound crashes against USD…
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
- What to expect in stock market in 2023
- British pound crashes against USD…
👍3🔥1
FXOpen official pinned «Watch FXOpen's January 2 - 6 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. - What to expect in stock market in 2023 - British pound crashes against USD - USD…»
Overview of FXOpen's Best-performing PAMM Accounts of December 2022
Congratulations, traders, providers, investors, FXOpen hopes you have merrily celebrated Christmas and the New Year. For the coming year, we would like to wish you not to be afraid to take risks, to act decisively in any situation, and to be successful in trading and investments!
During the New Year holidays, the market is unstable, there is a high risk of losses, and even professionals are not immune from mistakes. And, of course, any investor is interested in finding such providers who, even on a very “thin” market, will be able to maintain stability and trade with a positive result. Such accounts will be able to ensure the stability of the investment portfolio with minimal risk of possible losses.
As of January 1, 2023, 130 active accounts have been opened with FXOpen and $1,806,684.00 of subscribers’ funds have been invested (according to Investflow monitoring statistics).
https://fxopen.com/blog/en/overview-of-fxopens-best-performing-pamm-accounts-of-december-2022/
Congratulations, traders, providers, investors, FXOpen hopes you have merrily celebrated Christmas and the New Year. For the coming year, we would like to wish you not to be afraid to take risks, to act decisively in any situation, and to be successful in trading and investments!
During the New Year holidays, the market is unstable, there is a high risk of losses, and even professionals are not immune from mistakes. And, of course, any investor is interested in finding such providers who, even on a very “thin” market, will be able to maintain stability and trade with a positive result. Such accounts will be able to ensure the stability of the investment portfolio with minimal risk of possible losses.
As of January 1, 2023, 130 active accounts have been opened with FXOpen and $1,806,684.00 of subscribers’ funds have been invested (according to Investflow monitoring statistics).
https://fxopen.com/blog/en/overview-of-fxopens-best-performing-pamm-accounts-of-december-2022/
#MarketNews
MAJOR EVENTS OF THE COMING DAYS
→ Firstly, US companies will start publishing their fourth quarter results. This is important because according to the net income data, investors can find signs of a potential economic downturn (recession). On Friday, the data of Wells Fargo (WFC) and Citigroup (C) banks, as well as a number of other large companies, will be published.
→ Secondly, US consumer price data will be released on Thursday. It can confirm the hypothesis that the peak of inflation has passed. Also inflation data will be published in Japan (Tuesday) and Australia (Wednesday).
→ Thirdly, data on industrial production in the UK will be published on Friday. Perhaps it will confirm the onset of a protracted recession. Deutsche Bank predicts continued high inflation this year in the UK, and tighter fiscal policy.
It seems that the UK economy is now in a worse position than the EU economy. Inflation in the euro area falls due to lower wholesale prices for natural gas and electricity.
The EURGBP chart provides confirmation: the rate rose by about 3% in the second half of December (1). Bulls may get momentum from the news on Friday to break through the 0.883-0.886 resistance block and continue the trend.
To take advantage of trends in the foreign exchange 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.
MAJOR EVENTS OF THE COMING DAYS
→ Firstly, US companies will start publishing their fourth quarter results. This is important because according to the net income data, investors can find signs of a potential economic downturn (recession). On Friday, the data of Wells Fargo (WFC) and Citigroup (C) banks, as well as a number of other large companies, will be published.
→ Secondly, US consumer price data will be released on Thursday. It can confirm the hypothesis that the peak of inflation has passed. Also inflation data will be published in Japan (Tuesday) and Australia (Wednesday).
→ Thirdly, data on industrial production in the UK will be published on Friday. Perhaps it will confirm the onset of a protracted recession. Deutsche Bank predicts continued high inflation this year in the UK, and tighter fiscal policy.
It seems that the UK economy is now in a worse position than the EU economy. Inflation in the euro area falls due to lower wholesale prices for natural gas and electricity.
The EURGBP chart provides confirmation: the rate rose by about 3% in the second half of December (1). Bulls may get momentum from the news on Friday to break through the 0.883-0.886 resistance block and continue the trend.
To take advantage of trends in the foreign exchange 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.
#MarketNews #Cryptocurrency #BTC
BITCOIN: THE YEAR BEGINS WITH A BULL ATTACK
On Monday morning, the BTCUSD rate broke through the level of 17 thousand per coin from bottom to top.
Here are 2 reasons why this breakdown can be considered a sign of the true strength of the bulls.
→ Firstly, according to the data of the analytical agency Glassnode, the net position of the miners has gone positive, which means that the miners have switched to an accumulation strategy. This can be seen from the histogram (1), which changed color to green after the peak of sales. It is possible that this is a reversal signal.
→ Secondly, the behavior of prices and trading volumes (shown by arrows). On December 19 and 30, the bears attacked – the price decreased on increased volumes, however, in the following hours/days, all the progress of the bears leveled off. And in early January, the price of the coin began to grow on increased volumes — this is a sign that demand exceeds supply.
The most ardent optimists suggest that the bottom of the crypto winter has passed. However, this can hardly be said with a high degree of certainty.
To take advantage of trends 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.
Cryptocurrency CFDs are not available to Retail clients in the UK.
BITCOIN: THE YEAR BEGINS WITH A BULL ATTACK
On Monday morning, the BTCUSD rate broke through the level of 17 thousand per coin from bottom to top.
Here are 2 reasons why this breakdown can be considered a sign of the true strength of the bulls.
→ Firstly, according to the data of the analytical agency Glassnode, the net position of the miners has gone positive, which means that the miners have switched to an accumulation strategy. This can be seen from the histogram (1), which changed color to green after the peak of sales. It is possible that this is a reversal signal.
→ Secondly, the behavior of prices and trading volumes (shown by arrows). On December 19 and 30, the bears attacked – the price decreased on increased volumes, however, in the following hours/days, all the progress of the bears leveled off. And in early January, the price of the coin began to grow on increased volumes — this is a sign that demand exceeds supply.
The most ardent optimists suggest that the bottom of the crypto winter has passed. However, this can hardly be said with a high degree of certainty.
To take advantage of trends 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.
Cryptocurrency CFDs are not available to Retail clients in the UK.
👍1
#MarketNews
SELLERS CONTROL THE DOLLAR
On the daily chart of the dollar index futures, 2 bearish candles (1) formed, which completely leveled the growth that took place on January 3-5.
The decrease in the cost of the futures is due to the comments of the Fed representatives. Raphael Bostic and Mary Daly said yesterday that the Fed is likely to raise interest rates to above 5% and keep them there for some time.
In addition to the decline in the dollar index, the officials' comments also caused a decrease in the prices of stocks and cryptocurrencies - candles with a long upper shadow (a bearish sign) formed on the charts of these assets.
The beginning of the week gives signs that sellers are putting strong pressure on the US dollar, so its rate may continue to decline within the current downward channel (built in purple).
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.
SELLERS CONTROL THE DOLLAR
On the daily chart of the dollar index futures, 2 bearish candles (1) formed, which completely leveled the growth that took place on January 3-5.
The decrease in the cost of the futures is due to the comments of the Fed representatives. Raphael Bostic and Mary Daly said yesterday that the Fed is likely to raise interest rates to above 5% and keep them there for some time.
In addition to the decline in the dollar index, the officials' comments also caused a decrease in the prices of stocks and cryptocurrencies - candles with a long upper shadow (a bearish sign) formed on the charts of these assets.
The beginning of the week gives signs that sellers are putting strong pressure on the US dollar, so its rate may continue to decline within the current downward channel (built in purple).
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.
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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://youtu.be/MYzrYxFIrUQ
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://youtu.be/MYzrYxFIrUQ
YouTube
FXOpen partners with TradingView
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…
Our customers from all around the globe have now gained access to one of the industry's leading live trading…
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#MarketNews #Cryptocurrency
IS CHINA RETURNING TO THE CRYPTO MARKET?
When China introduced a ban on cryptocurrencies, this led to the migration of miners and the fall in the price of bitcoin. With the ban lifted, will China return to the cryptocurrency market?
According to the analytical resource QryptoQuant, there are signs that China is returning to the cryptocurrency market. Thus, the first ETF for BTC futures in China raised $79 million during its debut trading. Also growing are trading volumes on OKX, a Chinese crypto exchange that was forced to move offshore.
Justin Sun (Chinese entrepreneur, founder of the Tron blockchain) believes that China will be one of the main drivers in the next bull market — such as it was in 2013 and 2017.
Recall that in Hong Kong, which has the role of an intermediary between China and the rest of the world, consultations are underway on the legalization of cryptocurrencies. According to the former head of the BitMEX exchange, Arthur Hayes, the success of the process could mark the beginning of a new bull market.
Meanwhile, the Bitcoin price chart continues to give hope. As 2023 approaches, BTCUSD is bullish, forming an upward channel (shown in purple). The price is fixing above the 17k level, which previously served as resistance. So in the future he can provide support. And while the price is above 17k, there are arguments to suggest that the market is bullish.
To take advantage of trends in the 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.
IS CHINA RETURNING TO THE CRYPTO MARKET?
When China introduced a ban on cryptocurrencies, this led to the migration of miners and the fall in the price of bitcoin. With the ban lifted, will China return to the cryptocurrency market?
According to the analytical resource QryptoQuant, there are signs that China is returning to the cryptocurrency market. Thus, the first ETF for BTC futures in China raised $79 million during its debut trading. Also growing are trading volumes on OKX, a Chinese crypto exchange that was forced to move offshore.
Justin Sun (Chinese entrepreneur, founder of the Tron blockchain) believes that China will be one of the main drivers in the next bull market — such as it was in 2013 and 2017.
Recall that in Hong Kong, which has the role of an intermediary between China and the rest of the world, consultations are underway on the legalization of cryptocurrencies. According to the former head of the BitMEX exchange, Arthur Hayes, the success of the process could mark the beginning of a new bull market.
Meanwhile, the Bitcoin price chart continues to give hope. As 2023 approaches, BTCUSD is bullish, forming an upward channel (shown in purple). The price is fixing above the 17k level, which previously served as resistance. So in the future he can provide support. And while the price is above 17k, there are arguments to suggest that the market is bullish.
To take advantage of trends in the 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.
#MarketNews
THE FINANCIAL MARKET IS PREPARING FOR A SHAKE-UP
The US consumer price index will be published tonight.
Investors expect the new data to confirm the hypothesis that the peak of inflation has been passed. This will reduce the need for aggressive interest rate hikes by the Federal Reserve.
In anticipation of important news, the dollar index and the price of oil “froze”. But the stock markets show growth. The tech stock market is looking especially positive, the sector most affected by the 2022 bear market.
Futures on the NASDAQ index rose to $11,500 per contract, a level that served as support in November-December, but after a bearish breakdown on December 15-16, it can be expected to resist growth. Volumes on bullish candles are decreasing (bearish market), but this may be due to futures expiration.
Get ready for a shake-up in the financial markets on the background of the news.
To take advantage of 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.
THE FINANCIAL MARKET IS PREPARING FOR A SHAKE-UP
The US consumer price index will be published tonight.
Investors expect the new data to confirm the hypothesis that the peak of inflation has been passed. This will reduce the need for aggressive interest rate hikes by the Federal Reserve.
In anticipation of important news, the dollar index and the price of oil “froze”. But the stock markets show growth. The tech stock market is looking especially positive, the sector most affected by the 2022 bear market.
Futures on the NASDAQ index rose to $11,500 per contract, a level that served as support in November-December, but after a bearish breakdown on December 15-16, it can be expected to resist growth. Volumes on bullish candles are decreasing (bearish market), but this may be due to futures expiration.
Get ready for a shake-up in the financial markets on the background of the news.
To take advantage of 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.
Trading hours schedule for US Martin Luther King Jr. Day
Dear Traders,
Please be aware of the trading schedule changes on Martin Luther King Jr. Day (all times are GMT+2)
https://fxopen.com/en/news/trading-hours-schedule-for-us-martin-luther-king-jr-day/
Dear Traders,
Please be aware of the trading schedule changes on Martin Luther King Jr. Day (all times are GMT+2)
https://fxopen.com/en/news/trading-hours-schedule-for-us-martin-luther-king-jr-day/
#MarketNews
REPORTING SEASON KICKS OFF IN THE US
As always, it will be opened by “heavyweight” banks. Investors learn about the results of financial activities:
→ BAC, Bank of America
→ JPM, JP Morgan
→ WFC, Wells Fargo
The largest US banks are expected to report lower profits in the Q4 of 2022. It is possible that banks are preparing for a slowdown in the economy, and for this:
→ increase reserves,
→ downsizing,
→ reduce bonuses.
However, despite the problems of banks, the demand for their shares is increasing. Thus, the chart shows that the XLF (banking sector fund) is stronger relative to the S&P-500 index. This means that even if the financial statements are disappointing, the stock price of banks may not go into a deep drawdown.
To take advantage of trends 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.
REPORTING SEASON KICKS OFF IN THE US
As always, it will be opened by “heavyweight” banks. Investors learn about the results of financial activities:
→ BAC, Bank of America
→ JPM, JP Morgan
→ WFC, Wells Fargo
The largest US banks are expected to report lower profits in the Q4 of 2022. It is possible that banks are preparing for a slowdown in the economy, and for this:
→ increase reserves,
→ downsizing,
→ reduce bonuses.
However, despite the problems of banks, the demand for their shares is increasing. Thus, the chart shows that the XLF (banking sector fund) is stronger relative to the S&P-500 index. This means that even if the financial statements are disappointing, the stock price of banks may not go into a deep drawdown.
To take advantage of trends 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.
#MarketNews #Cryptocurrency
BITCOIN SHOWS THE BIGGEST INCREASE IN PRICE IN 2 MONTHS
The BTCUSD rate rose to $19k.
This happened against the backdrop of news about inflation. Fresh statistics on consumer prices (CPI was 6.5%, as expected) gave reason to boldly assume that the Fed will slow down its current policy. And this means that risky assets (which include bitcoin) may get rid of excessive pressure and receive an influx of investments.
We paid attention to the bullish dynamics in the interaction of volume and price in a post on January 9th. Now the market is experiencing an excessive volume (1) of trading, which can be interpreted as the fact that the market is “overheated”, and the rate can be consolidated. This scenario is supported by the fact that the price has reached the upper limit (2) of the ascending channel.
If the consolidation really develops, the price will hold above the sign level of 18300, which previously (3) served as support and resistance. Now he can be a support for the bulls, who will certainly want to develop success.
To take advantage of trends in the cryptocurrency 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.
BITCOIN SHOWS THE BIGGEST INCREASE IN PRICE IN 2 MONTHS
The BTCUSD rate rose to $19k.
This happened against the backdrop of news about inflation. Fresh statistics on consumer prices (CPI was 6.5%, as expected) gave reason to boldly assume that the Fed will slow down its current policy. And this means that risky assets (which include bitcoin) may get rid of excessive pressure and receive an influx of investments.
We paid attention to the bullish dynamics in the interaction of volume and price in a post on January 9th. Now the market is experiencing an excessive volume (1) of trading, which can be interpreted as the fact that the market is “overheated”, and the rate can be consolidated. This scenario is supported by the fact that the price has reached the upper limit (2) of the ascending channel.
If the consolidation really develops, the price will hold above the sign level of 18300, which previously (3) served as support and resistance. Now he can be a support for the bulls, who will certainly want to develop success.
To take advantage of trends in the cryptocurrency 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.
