Sunday, 22 November 2020

Guide To Fibonacci Retracement : Common Mistakes & Trading Tips

 By VasilyTrader


Get a basic understanding and logic of Fibonacci Retracement tool.

Learn how to identify the impulse leg a properly draw Fibonacci Retracement.




Thursday, 19 November 2020

Bitcoin Near It's Highest Historical Level

 By Deya Hroob



Bitcoin rose in early trading, Wednesday, near its highest historical level recorded on December 16, 2017, amid the increasing demand for high-risk investment.

 

This comes, with the continued announcements of global pharmaceutical companies, which have reached promising results in clinical tests, for vaccines that eliminate the Corona virus, which prompted traders to exit from safe havens such as gold and dollars, to stock markets and virtual currencies.

By the time (5:00 GMT), the price of the most famous virtual currency unit, "Bitcoin", had risen to 18.3 thousand dollars, up from 17.4 thousand dollars in evening trading, Tuesday.




 

Bitcoin had recorded its highest historical level with a market value of 19.7 thousand dollars per unit, after which it started a sharp downward journey and reached 3500 dollars early last year.

 

The market value of the total 18.54 million Bitcoin units in circulation around the world out of 21 million units was approximately $ 339.4 billion.


Sunday, 15 November 2020

Tuesday, 10 November 2020

The "Pfizer Vaccine" and Biden's Victory Raises Oil and Lowers Gold

By Deya Hroob





Gold prices fell sharply during trading yesterday, Monday, while oil prices jumped about 10%, which is the largest one-day gain in more than 6 months, after the announcement by "Pfizer" (United States) and "Biontech" (Germany) that the vaccine is against Covid-19, which you are working to develop is "90% effective", after preliminary analysis of the results of the third phase of clinical trials currently underway, the last before submitting an application for licensing.


The announcement by Pfizer and Biontech about the Corona vaccine pushed stock markets to a sharp rise and undermined the attractiveness of the precious metal as a safe investment haven, which indicated that the price of US gold futures fell. 3.7% to $ 1850.00 an ounce.


Earlier, gold prices jumped to their highest level since September 16 at 1965.33 dollars an ounce, driven by the weakening of the dollar amid hopes of more stimulus in the wake of Joe Biden's victory in the US presidential election.


Gold Technical Analysis:


Gold is trading now at support structure, if we lose it a fall to 200-day EMA is possible.

$1900 level is acting as resistance. 




Trade Wise and Good Luck,

Wednesday, 4 November 2020

What If Trump and Biden Disputed the Election Result? Markets React

By Deya Hroob






 Conflict over the election result can lead to legal and political drama in which the presidency may be determined by a mixture of courts, state politicians, and Congress.


Despite the incomplete results in a number of vital states that may decide the outcome of the US presidential elections, President Donald Trump announced his victory over his Democratic opponent, Joe Biden, today, Wednesday.


This premature announcement came to confirm the concerns of Democrats that they expressed weeks ago, indicating that Trump is seeking to not accept the results.


Early vote data showed that Democrats voted by mail in much greater numbers than Republicans. And in states like Pennsylvania and Wisconsin that do not mail ballots until Election Day, experts say the preliminary results may favor Trump, while the mailing ballots counted at a slower pace are expected to work in Biden's favor.


So Democrats expressed concern that Trump would declare his victory, as he did today, before those votes were counted.


In addition, the convergence of results could lead to litigation over voting and vote counting procedures in critical states.


Cases filed in individual states could ultimately reach the Supreme Court, as happened in the Florida election in 2000, when Republican George W. Bush beat Democrat Al Gore by just 537 votes in Florida after the Supreme Court halted the recount.


How Would this Affect the Market?

If there will be chaos everywhere, safe-heaven currencies like AUD, Yen , Swiss franc and Gold will most benefited.


AUD/USD Daily Chart: 


The price has been trading between two structures with high volatility. If we see chaos in US election 74.00 level will be on the cards. 

aud/usd daily chart

 

USD/JPY Daily Chart


The pair is trading at support structure. Today, it bounced back from the upper line of the descending triangle. If we lose the support line, it will be so negative for the pair.


 


 USD/CHF Daily Chart

The pair has been trading below all major moving averages. If there is a contested election, it may drop to 0.9000 level




Sunday, 1 November 2020

US Election: How will the financial markets react?

By Deya Hroob

Let's discuss the Scenarios

First of all, Gold and USD dollar heavily depend on fiscal stimulus. Democrats will try to pass a generous stimulus package. Moreover, Biden has promised to raise taxes on corporations , businesses and rich people. He  has also pledged sweeping changes to regulatory which will be positive for Gold, but bad for the dollar. *( especially if they win with a Blue Wave )

* A Blue Wave :  Democrats win Presidency and senate *


Below is a chart for GOLD in 2016 after Trump's victory.



On the other hand, tariffs on many major countries all over the world like China, UK and EU will remain in place if Trump wins the election which may put the EUR and GBP under pressure. Unlike his opponent, Biden will try to calm trade relations with china and lift sanctions on foreign countries. lifting these tariffs may boost the EUR and GBP as well.


 Below is a chart for EUR/USD in 2016 after Trump's victory.


Chaos Election ( Contested Election )

If one party refuses to accept his opponent victory, there will be chaos everywhere.

Trump assured many times that the election will end in supreme court and he questions the accuracy of mail-in voting as well. 

Safe-heaven currencies like the Yen , the Swiss franc and Gold like this situation and they skyrocket likely. 


 Below is a chart for USD/JPY in 2016 after Trump's victory.



Trade Wise and Good Luck,