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  • Forexlive Americas FX news wrap:USD ends week with solid gains vs all the maj currencies
    by Greg Michalowski on August 19, 2022 at 8:42 pm

    <ul><li><a href="">All 3 major indices close lower for the week. 1st declines in 5 trading weeks</a></li><li><a href="">Key events and releases for the week starting August 22</a></li><li><a href="">Crude oil settles at $90.44. $0.33 higher on the day</a></li><li><a href="">Baker Hughes oil rigs unchanged at 601</a></li><li><a href="">US 10 year yields off highs but technical bias shifts to the upside</a></li><li><a href="">Lower close for Europe's major indices with the exception of the UK FTSE 100</a></li><li><a href="">France's Macron: There is risk of Russia decoupling Zaporizhzhia nuclear plant</a></li><li><a href="">More Barkin: Still a lot of time until decision needs to be made on size of September hike</a></li><li><a href="">More from Barkin:Reduction of balance sheet should add to tighter financial conditions</a></li><li><a href="">August 19, 2022: The morning technical report looks at the EURUSD, USDJPY and GBPUSD</a></li><li><a href="">Fed's Barkin: Fed will do what it takes to return inflation to target</a></li><li><a href="">Canada retail sales for June 1.1% vs. 0.3 expected</a></li><li><a href="">The CHF is the strongest and the NZD is the weakest as the NA session begins</a></li><li><a href="">Bitcoin failed to hold, testing key levels again</a></li><li><a href="">ForexLive European FX news wrap: Dollar runs hot into the final stretch of the week</a></li></ul><p>The US dollar was the strongest currency this week and the strongest currency today. The NZD was the weakest of the majors today. </p><p> The greenback this week, rose against all the major currencies helped by more hawkish Federal Reserve comments, and global concerns about growth in China, the euro zone, and UK due to higher inflation, Covid headwinds, higher US yields and the Ukraine war.</p><p>EURUSD fell -217 pips -2.12% on the week (USD higher by 2.12%). The high price was reached on Monday, the low price was today. Yesterday, the pair fell below the lower extreme that confined the pair in July and into early August down to 1.0096. The move tilted the bias even more to the downside and the selling continued into the New York afternoon session where the low price reached 1.0031, just 31 pips from the parity level. Recall in July the low reached 0.9951 before starting the run to the August high at 1.03678.</p><p>The GBPUSD also traded at it's week's high on Monday (at 1.2147). For the week, the USD rose by 2.56% vs the GBP. After a rebound higher on Tuesday and into Wednesday felll just short of the Monday high (the high reached 1.2142), the buyers turned to sellers and the pair is ending with a 3 day down streak. The low price today reached 1.1791. The low price for the year and going back to March 2020 reached 1.17594. Key support level going into next week's trading.</p><p>The USDJPY after waffling up and down on Monday and ending marginally lower on the day (the low reached 132.54), the pair moved up on each of the subsequent 4 trading days. For the week, the greenback rose 2.52% vs the JPY. The high price today extended to 137.22 which took the pair just above a swing area between 137.00 and 137.152. The price backed off into the close, and is closing just below that area at 136.86. Next week, that area will be a key barometer for trading to start the week. </p><p>The USDCHF closed higher on each of its 5 trading days this week (higher dollar). The dollar rose 1.85% vs the CHF. </p><p>The AUDUSD (dollar higher by 3.45%) and NZDUSD closed lower each day (higher USD - by 4.33%). The RBNZ rate hike of 50 basis points did little to support the NZD against the greenback.. </p><p>A snapshot of other markets as the week comes to a close shows:</p><ul><li>Spot gold is down $12 or -0.69% at $1746.89.</li><li>Spot silver is down $-0.46 or -2.39% at $19.04.</li><li>Crude oil is trading near unchanged at $90.02 after an up and down session</li><li>Bitcoin is trading at sharply lower on the day at $21,320. Last Friday, the price closed at $24,407. So for the week the price is down $3087</li></ul><p>In the US stock market this week, the major indices close lower for the 1st time in 5 trading weeks:</p><ul><li>Dow industrial average fell -0.1%</li><li>S&P index fell -1.2%</li><li>NASDAQ index fell -2.62%</li><li>Russell 2000 fell -2.92%</li></ul><p>In the US debt market:</p><ul><li>2 year yield is trading at 3.24%. Last Friday it settled at 3.253%</li><li>5 year is at 3.098% after closing last week at 2.960%</li><li>10 year is at 2.972% after closing last week at 2.837%</li><li>30 year is at 3.213% after closing last week at 3.115%</li></ul> This article was written by Greg Michalowski at

  • All 3 major indices close lower for the week. 1st declines in 5 trading weeks
    by Greg Michalowski on August 19, 2022 at 8:04 pm

    <p>The week is ending on a soft note. All 3 major indices are closing lower on the day with the NASDAQ down over 2%. The Russell 2000 index of small cap stocks fell by -2.17%.</p><p>The declines in the Dow industrial average today tipped its fortunes for the week into negative territory but only barely. </p><p>For the week, the Dow, S&P and NASDAQ close lower for the 1st time in 5 trading weeks. The declines for the week showed:</p><ul><li>Dow -0.1%</li><li>S&P -1.2%</li><li>NASDAQ -2.62%</li></ul><p>For the trading day:</p><ul><li>Dow industrial average fell -292.3 points or -0.86% at 33706.73</li><li>S&P index fell -55.24 points or -1.29% at 4228.49</li><li>NASDAQ index fell -260.12 points or -2.01% at 12705.23</li><li>Russell 2000 fell 43.38 points or -2.17% at 1957.34.</li></ul> This article was written by Greg Michalowski at

  • How to Stop Qwertying Your Way to Hackers: 5 Internet Security Tips From OctaFX
    by ForexLive on August 19, 2022 at 2:09 pm

    <p class="MsoNormal">Who will you blame if you wake up one day without a job and with no money on your bank card? Yourself. That is if you don’t follow internet security tips. The global broker OctaFX outlines the main do’s and dont’s of staying safe online.</p><p class="MsoNormal">With fraudsters gaining internet ground every year and their schemes becoming more sophisticated, it is not always easy to avoid getting hacked or scammed. However, the global broker OctaFX knows how to protect your sensitive information against theft. It will gladly share some of the most important internet security tips. But first, a little story.</p><p class="MsoNormal">Meet Viraj. He is a regular user of online stores. Some time ago, Viraj registered an account with one such store. When registering, he used his work email address and the password he used everywhere: Qwerty123. He made a purchase on the site using his bank card, which he then added to his account.</p><p class="MsoNormal">Two weeks later, Viraj decided to check his banking app, anticipating a new round of online shopping in the evening. His salary had to be waiting for him in his account. To his astonishment, the money was not there. Viraj was ready to start calling the finance department of his company in his righteous anger when he checked the history of his card transactions. His heart sank. There was a $500 purchase he never made. Someone purchased a smartphone on the site he had registered with two weeks ago. Moreover, the smartphone was already picked up from one of the branches of the store in his city.</p><p class="MsoNormal">Viraj felt devastated, to say the least. But that was only the beginning of his misfortunes. Suddenly, his colleague came up to him and said, ‘Viraj, are you selling our customer database on the internet? It’s your name there!’ Viraj only had time to mumble, ‘It’s not me,’ before he saw his boss standing in front of him, ready, it seemed, to burn him with his stare. ‘You’re fired!’ was the last thing Viraj heard before losing consciousness and… waking up.</p><p class="MsoNormal">‘Phew… It was just a dream,’ Viraj said to himself. ‘But how could all this happen?’</p><p class="MsoNormal">Let’s analyse Viraj’s case. The first thing he did wrong was registering anywhere with his work email address. While some of us may be hard-working to the point of mixing our life and work spaces, it is unprofessional and dangerous to use your work email for personal use. </p><p class="MsoNormal">The second mistake Viraj made was his password. It was just too easy to crack, as it was one of the <a href="" target="_blank">most common passwords</a> in the world. Viraj had to be much more creative when setting up a password, or use a <a href="" target="_blank">password generator</a>. And no, ‘Viraj123’ wouldn’t be any better. Something like ‘B{6{2BP2vG’ would be excellent.</p><p class="MsoNormal">Another mistake was that Viraj used the same password everywhere. Even if you use a very complex password, someone might see it on a note on your table or on the ‘saved passwords’ page on the computer you used just once. If they use it, they might hack all your accounts at once.</p><p class="MsoNormal">The fourth mistake Viraj made was adding his bank card to his account in the store. Hackers used it to their advantage and got a brand-new smartphone. The fact that it was the main bank card of Viraj made it worse—it meant he had all his money on it.</p><p class="MsoNormal">We can assume that Viraj made his final mistake when surfing the internet. He probably did it using an unsecured internet connection or just downloaded some malware, making it easier for hackers to get into his accounts. Alternatively, considering his very common password, it could be anyone who knew his email address, even the competitors of the company he worked in.</p><p class="MsoNormal">So, here are five security tips from OctaFX every internet user should take note of:</p><p class="MsoNormal">● Don’t use your work email address for personal use. Preferably, use multiple personal email addresses.</p><p class="MsoNormal">● Always use strong passwords. Many strong passwords. Ideally, let each of your accounts have its own password. Use password managers, such as <a href="" target="_blank">KeePass</a>, to store your passwords.</p><p class="MsoNormal">● Don’t save your bank cards with any online store. When buying something on the internet, make sure the site you are using is reliable and secure.</p><p class="MsoNormal">● Don’t use public Wi-Fi or any other public network when logging in to important accounts.</p><p class="MsoNormal">● Don’t follow suspicious links and don’t download attachments from suspicious emails that you have not seen before.</p><p class="MsoNormal">After learning about the tips above, Viraj knew how to protect himself against fraudsters and hackers on the internet. Moreover, he helped his company implement important security measures and got a promotion.</p><p class="MsoNormal">Stay safe when surfing the internet and don’t forget your new passwords! Next time, we’ll explore the world of online scams and phishing and how to identify them. </p><p class="MsoNormal">About OctaFX</p><p class="MsoNormal"><a href="" target="_blank">OctaFX</a> is a global broker providing online trading services worldwide since 2011. It offers everything one needs to reach their investment goals, providing top-notch conditions utilised already by clients from over 150 countries worldwide.</p><p class="MsoNormal">The company is involved in a comprehensive network of charity and humanitarian initiatives, including improvement of educational infrastructure, short-notice relief projects, supporting local communities and small to medium enterprises.</p><p class="MsoNormal">On a side note, OctaFX has also won more than 45 awards since its foundation, including the 2021 ‘Best Forex Broker Asia’ award from Global Banking & Finance Review and 2021 ‘Best ECN Broker’ award by World Finance. </p> This article was written by ForexLive at

  • Bitcoin failed to hold, testing key levels again
    by FxPro FXPro on August 19, 2022 at 12:04 pm

    <p class="MsoNormal">Market picture</p><p class="MsoNormal">Bitcoin was almost flat on Thursday but started Friday with a 6% plunge, momentarily dropping to $21.5K. Ethereum is losing 4.5% overnight to $1760. Leading altcoins are down 7% (XRP) to 12% (Solana).</p><p class="MsoNormal">Total crypto market capitalisation is down 4.2% to $1.07 trillion, according to CoinMarketCap.</p><p class="MsoNormal">Bitcoin's fall below $22.5K is a formal break of the upward corridor of the past two months, as a sequence of increasingly higher local lows is broken. Currently, BTCUSD is testing the 50-day moving average, which could act as an uptrend indicator.</p><p class="MsoNormal">The current dip has made the fight for the 200-week average, which is now near $23K, relevant again. Closing the week below this level risks triggering another round of liquidation.</p><p class="MsoNormal">Altcoins are losing even more significantly, reflecting a dramatic shift in enthusiast sentiment from cautious buying to simultaneously locking in quick profits across a wide range of coins.</p><p class="MsoNormal">Additionally, the weakening of global equity indices and the deteriorating macroeconomic backdrop is worrying factor. At the same time, the crypto market is no longer oversold but not yet attractive to long-term investors.</p><p class="MsoNormal">We believe we will see similar sharp market movements again in the coming months.</p><p class="MsoNormal">News background</p><p class="MsoNormal">Arthur Hayes, former head of crypto exchange BitMEX, talked about two scenarios after Ethereum moves to the Proof-of-Stake (PoS) mining algorithm. If the fork is unsuccessful, ETH could fall sharply but hold above $800. If the merger is successful, an ETH rally should be expected, although it may be delayed, as in the case of bitcoin halving.</p><p class="MsoNormal">Korean authorities are investigating 16 crypto exchanges that are accused of breaking local laws and providing digital asset trading services to Korean citizens.</p><p class="MsoNormal">Tether, the issuer of the largest USDT stablecoin by capitalisation, has announced a partnership with accounting firm BDO Italia. Tether plans to move from reporting quarterly financial results to monthly reporting.</p> This article was written by FxPro FXPro at

December 14, 2020

EURUSD failed to breach and stay above the key resistance of 1.2174

EURUSD The EURUSD failed to breach and stay above the key resistance of 1.2174, but it is expected that, once the consolidation in which the pair […]
December 11, 2020

USD/JPY started a fresh increase above 104.00, but it is still facing many hurdles.

EURUSD Technical analysis highlights that the EURUSD pair is currently trading inside a bullish falling price channel. Short-term traders should be aware that rally may be […]

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