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  • Morgan Stanley remain with a bearish bias on EUR/USD, targeting to 0.93
    by Eamonn Sheridan on September 28, 2022 at 10:04 pm

    <p class="western" align="left"> This via the folks at eFX. </p><p class="western" align="left"> For bank trade ideas, <a href="https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD" target="_blank">check out eFX Plus</a>. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. <a href="https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD" target="_blank">Get it here</a>. </p><p> Morgan Stanley snippet:</p><ul><li>"We remain bearish on EUR/USD targeting 0.93. Stagflationary concerns continue to rise in Europe as geopolitical uncertainties accelerate. ECB hawkishness may be insufficient to support the currency in a stagflationary environment, we think," MS notes.</li><li>"Moreover, market implied terminal rates for the ECB may be elevated (3%) compared to a more plausible outcome like 2%. The upcoming inflation print will be an important market event as investors seek to gauge the path for Eurozone inflation," MS adds.</li></ul> This article was written by Eamonn Sheridan at forexlive.com.

  • Druckenmiller " central case a hard landing", "owning assets doesn’t make a lot of sense"
    by Eamonn Sheridan on September 28, 2022 at 9:46 pm

    <p>Greg had the headline earlier on remarks from billionaire investor Stanley Druckenmiller:</p><ul><li><a href="https://www.forexlive.com/news/legendary-investor-stanley-druckenmiller-the-fed-was-wrong-they-made-a-big-mistake-20220928/" target="_blank" data-article-link="true">Legendary investor Stanley Druckenmiller: The Fed was wrong. They made a big mistake.</a></li></ul><p>A little more (<a href="https://www.cnbc.com/2022/09/28/stanley-druckenmiller-sees-hard-landing-in-2023-with-a-possible-deeper-recession-than-many-expect.html" target="_blank" rel="nofollow">link here for even more</a>) </p><ul><li>“I will be stunned if we don’t have recession in ’23. I don’t know the timing but certainly by the end of ’23. I will not be surprised if it’s not larger than the so called average garden variety.”</li><li>“We are in deep trouble.”</li></ul><p>Says the Federal Open Market Committee (FOMC) made a mistaken its 'transitory' view of inflation and its refusal to move quickly once it realised:</p><ul><li>“I think the repercussions of that are going to be with us for a long, long time.”</li></ul> This article was written by Eamonn Sheridan at forexlive.com.

  • Has the crypto market first felt the risk appetite?
    by ForexLive on September 27, 2022 at 10:21 am

    <p class="MsoNormal">Bitcoin rose 1.1% on Monday, and on Tuesday morning, it "shot up" another 5.5%, adding 7.5% over the past 24 hours. This growth momentum has brought the price of the first cryptocurrency back above $20K, in stark contrast to the dynamics of falling markets and a strengthening dollar.</p><p class="MsoNormal">Ethereum added almost as much - 7% - rising to $1,385. Against this backdrop, total crypto market capitalisation jumped 5.5% to $970 billion, with top altcoins adding between 2.3% (XRP) and 8.1% (Solana).</p><p class="MsoNormal">According to CoinShares, investments in cryptocurrencies rose for the second consecutive week last week. Net inflows were $8 mln, Bitcoin investments were up $3 mln, and Ethereum investments were up $7 mln. Investments in funds that allow shorts on bitcoin were down $5 mln, the first decline in 8 weeks.</p><p class="MsoNormal">While the Dow Jones index closed at its lowest since November 2020, the Nasdaq100 turned to growth after nearing the lows of June, and cryptocurrencies showed a strong surge. The outperformance of the riskiest assets is more typical of periods of great monetary stimulus. Therefore, the most relevant question is whether we are now see ing the first signs of a market reversal or a trap for naive bulls.</p><p>News background</p><p class="MsoNormal">Bitcoin will continue to trade in a range of $17K to $25K, Glassnode expects. Intense US Federal Reserve monetary policy pressure and an unfavourable macroeconomic climate offset any essential positive developments in the crypto industry.</p><p class="MsoNormal">Dan Morehead, CEO of crypto hedge fund Pantera Capital, believes billions of people will use blockchain in the coming years, increasing the value of cryptocurrencies.</p><p class="MsoNormal">The SEC has demonstrated that it intends to "damage or destroy the cryptocurrency industry in the US", said LBRY, a decentralised content publishing platform.</p><p class="MsoNormal">Technology giant Apple has allowed the sale of collectable tokens (NFTs) in apps on its devices, but the commission will be 30%, sparking outrage in the crypto community.</p> This article was written by ForexLive at forexlive.com.

  • Crypto as a safe haven. Finally?
    by ForexLive on September 26, 2022 at 11:50 am

    <p class="MsoNormal">Bitcoin is down 4.1% over the past week, ending near $18,900. Ethereum lost 5.8% to $1290. Other leading altcoins in the top 10 showed mixed dynamics, ranging from a 3.7% decline (Cardano) to a 27% increase (XRP). </p><p class="MsoNormal"> Total crypto market capitalisation, according to CoinMarketCap, declined by 2.4% over the week to $928bn. Cryptocurrency Fear & Greed Index fell by 3 points over the week to 24 ("extreme fear").</p><p class="MsoNormal"> Meanwhile, the cryptocurrency market became a safe haven compared to the collapse of major currencies and stock indices.</p><p class="MsoNormal"> The beginning of the week raises the question, what is behind the relative resilience of cryptos? This market could be forgotten for a while, as all the attention and capital flows are on flagship assets. Alternatively, it could manifest traders' inner confidence that peak fear is near and cryptocurrencies are already cheap enough for long-term investors.</p><p class="MsoNormal">News background</p><p class="MsoNormal">Former MicroStrategy CEO Michael Saylor said that bitcoin would surpass the $69K reached in November 2021 in the next four years. BTC could trade as high as $500K in the next decade if its market capitalisation equals that of gold. Judging by bitcoin's simple four-year moving average, its bottom is at $20K, Sailor suggested. Bitcoin's bear market has yet to reach its final stage, and investors should prepare for further declines. Some participants expressed this opinion in a Cointelegraph poll on Twitter.</p><p class="MsoNormal"> Ethereum co-founder Vitalik Buterin said all cryptocurrencies should switch to the Proof-of-Stake (PoS) algorithm. He believes that over the next 18 months, ETH will become much more scalable, which will significantly reduce transaction fees.</p><p class="MsoNormal">Ripple CEO Brad Garlinghouse disagreed with the SEC that Ethereum could be considered unregistered security after the move to PoS.</p> This article was written by ForexLive at forexlive.com.

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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