Sunday 31 July 2022

New video uploaded to YouTube

New video uploaded to YouTube
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HOW TO GROW $50 ACCOUNT FAST


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Ethereum technical analysis

Old school technical analysis says that price itself is the most inportant technical indicator. Some claim that the most important part of technical analysis lies in the price itself, as it travels through time. ETH, in terms of technical analysis, is also a potential bear flag. Bear flags extend/continue a downward trend. The bear flag pattern has a powerful downward move followed by an upward consolidation channel. Furthermore, even if we do not have a bear channel, ETHUSD seems to be in a channel, after creating the recent touch point at its upper band. This supports that previously profitable Longs may take partial or full profit, and new bears will open new short positions. The Ethereum technical analysis video shows the 14 day RSI (relative strength indicator) along with its simple moving average and we look for an upcoming crossover that seems to be imminent despite not confirmed yet. The RSI presents historical market strength and weakness. And is used by many traders as a popular technical indicator on charts to identify price momentum changes A trade idea is provided for your consideration, for shorting ETH with a healthy stop above $1800, and 2 profit taking targets with a reward vs risk of 1.5, and a second that is much higher. See the Ethereum technical analysis video below for more. On a weekly timeframe, ETHUSD may also be showing a pattern of Head and Shoulders pattern. On a technical analysis chart, the Head and Shoulders formation happens when a market trend is about to change, either from a bullish to a bearish trend. If that Head and Shoulders pattern plays out, many times, traders look for the price to reach a low that completes a measured move from the top of the head, with the middle of the measured move being the neckline. That would take ETH to apx $600, as shown in the chart below. ETHUSD weekly chart with head and shoulders formation However, if ETHUSD goes above $1816, the bull case is over, the head and shoulders pattern has failed or was mistakenly formed in the first place. In any case, it would be time for realizing that the bulls have regained control. A trade idea must always include a stop. If and when the technical analysis with Ethereum plays out, one could also decide to play a parallel trade idea with Bitcoin or most other cryptocurrencies, especially the ones perceived as being relatively weaker according to your own research. Trade ETHUSD or any other crypto at your own risk only. This article was written by ForexLive at www.forexlive.com.
http://dlvr.it/SVpDTJ

Ethereum technical analysis

Old school technical analysis says that price itself is the most inportant technical indicator. Some claim that the most important part of technical analysis lies in the price itself, as it travels through time. ETH, in terms of technical analysis, is also a potential bear flag. Bear flags extend/continue a downward trend. The bear flag pattern has a powerful downward move followed by an upward consolidation channel. Furthermore, even if we do not have a bear channel, ETHUSD seems to be in a channel, after creating the recent touch point at its upper band. This supports that previously profitable Longs may take partial or full profit, and new bears will open new short positions. The Ethereum technical analysis video shows the 14 day RSI (relative strength indicator) along with its simple moving average and we look for an upcoming crossover that seems to be imminent despite not confirmed yet. The RSI presents historical market strength and weakness. And is used by many traders as a popular technical indicator on charts to identify price momentum changes A trade idea is provided for your consideration, for shorting ETH with a healthy stop above $1800, and 2 profit taking targets with a reward vs risk of 1.5, and a second that is much higher. See the Ethereum technical analysis video below for more. On a weekly timeframe, ETHUSD may also be showing a pattern of Head and Shoulders pattern. On a technical analysis chart, the Head and Shoulders formation happens when a market trend is about to change, either from a bullish to a bearish trend. If that Head and Shoulders pattern plays out, many times, traders look for the price to reach a low that completes a measured move from the top of the head, with the middle of the measured move being the neckline. That would take ETH to apx $600, as shown in the chart below. ETHUSD weekly chart with head and shoulders formation However, if ETHUSD goes above $1816, the bull case is over, the head and shoulders pattern has failed or was mistakenly formed in the first place. In any case, it would be time for realizing that the bulls have regained control. A trade idea must always include a stop. If and when the technical analysis with Ethereum plays out, one could also decide to play a parallel trade idea with Bitcoin or most other cryptocurrencies, especially the ones perceived as being relatively weaker according to your own research. Trade ETHUSD or any other crypto at your own risk only. This article was written by ForexLive at www.forexlive.com.
http://dlvr.it/SVpCqP

Uniglo (GLO) Is Trending In Tokens That Could Make You A Millionaire Alongside Bitcoin (BTC) And Ethereum (ETH)

If you're looking for that next coin that could make you a millionaire, you're in the right place. Tons of crypto millionaires have been made over the last few years, you've probably heard multiple stories already. Many of these were made with coins like ETH, BTC, SHIB, DOGE and more. But those aren't the only cryptocurrencies that could help turn your financial fortunes around for the better... There are loads more. While it could be argued that there's still plenty of money to be made with the likes of ETH and BTC, some also argue that you need to focus on a newer crypto project. The chance to pick up BTC for $0.10 is gone now. Even if it goes back up to all-time highs, you'll only be roughly tripling your money. So what about other options that could help skyrocket your portfolio? If you get in at the right time with a new project, all of those future gains could be yours. Many experts love the look of Uniglo for its massive earning potential. Let's have a look at why... Uniglo (GLO) could be perfect for your portfolio Buying GLO now could be a great opportunity. It's available in-pre sale at a discount, so you could get involved in a new project at the perfect time and ride it all the way to the top. Uniglo is completely deflationary and helps solve key issues in the crypto world thanks to an innovative dual-burn mechanism and full asset-backing from a range of diversified products. It could be a key answer to the world's inflation problems as a completely deflationary currency. Experts love it for your portfolio right now. Bitcoin (BTC) Bitcoin is one coin that's definitely famous for making tons of crypto millionaires. While it might be harder to make a million from BTC now, it isn't impossible. You just might have to invest more in the first place, which will understandably be higher risk. Some people think BTC could surpass a million per coin at some point in the future. So while this obviously isn't the same as buying BTC when you could still afford a pizza with it, there's still long-term scope for the biggest coin in crypto. Ethereum (ETH) Ethereum has had a really interesting few weeks. It suffered as part of the overall market dip by losing a fair percentage of its value a month or so back. But since then, it consolidated well. And when the date was announced for the merge into ETH 2.0, things took a turn for the better in a major way. While many other cryptos are still struggling, ETH's price continued to gain, clawing back losses from the previous months. ETH 2.0 will be huge for Ethereum, solving major issues like slow speeds and high transaction costs. And the Ethereum blockchain is already a huge part of the wider crypto industry, and home to thousands of huge projects. These changes could help Eth surge once more, so now could be a great opportunity. Conclusion Countless millionaires have been made in the crypto space, especially from BTC and ETH. But experts love GLO the most right now, and it could help reshape the industry. Find Out More Here: Join Presale:  https://presale.uniglo.io/register  Website:  https://uniglo.io  Telegram: https://t.me/GloFoundation Discord:  https://discord.gg/a38KRnjQvW  Twitter:  https://twitter.com/GloFoundation1 Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
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Week Ahead: Highlights include US jobs, ISM; China Caixin PMIs; BoE, RBA, OPEC

* MON: CBR Monetary Policy Report; Chinese Caixin Manufacturing PMI (Jul), Australian, EZ, UK & US Final Manufacturing PMI (Jul), German Retail Sales (Jun), US ISM Manufacturing PMI (Jul). * TUE: RBA Policy Announcement, Canadian Civic Day; South Korean CPI (Jul), Canadian Manufacturing PMI (Jul), US JOLTS (Jun), New Zealand HLFS Unemployment (Q2). * WED: BCB Policy Announcement; Australian, EZ, UK & US Final Composite/Services PMI (Jul), Swiss CPI (Jul), EZ Retail Sales (Jun), US ISM Services PMI (Jul), Factory Orders (Jun). * THU: BoE & CNB Policy Announcements; Australian Trade Balance (Jun), German Industrial Orders (Jun), EZ & UK Construction PMI (Jul), US Challenger Layoffs (Jul), US International Trade (Jun), IJC (w/e 25th Jul), Canadian Trade Balance (Jun). * FRI: RBA SOMP; Japan's Leading Indicator (Jun), German Industrial Output (Jun), UK Halifax (Jul), US & Canadian Labour Market Reports (Jul), Canadian Ivey PMI (Jul). * SUN: Chinese Trade Balance (Jul). NOTE: Previews are listed in day-order* Chinese Caixin Manufacturing PMI (Mon): The July PMI is expected to remain in expansionary territory, but tick slightly lower to 51.5 from 51.7. To recap, the June PMI suggested “The reduction in COVID -19 case numbers and the subsequent easing of containment measures across China led to a renewed improvement in manufacturing business conditions in June”. Since then, COVID control has been more isolated, whilst Bloomberg recently reported that China is imposing COVID "closed loops" (where staff live and work on-site), on major Shenzhen companies, an evolution in policy from the prior blanket closures. However, the June PMI release warned that firms “remained relatively cautious in terms of staffing levels”, whilst “Higher costs for raw materials and transport drove a further sharp increase in input costs in June”, but “companies cut their selling prices for the second month in a row amid greater market competition and efforts to stimulate sales.” On that front, the July PMI will offer some further insight into developments on domestic inflation ahead of the official CPI and PPI releases in the second week of August. US Manufacturing ISM (Mon), Services ISM (Wed): The manufacturing ISM headline is seen little changed at 52.9 in July (prev. 53.0). “Regional manufacturing surveys have been mixed, but the broader trend has been lower, with a majority now in negative territory,” Credit Suisse observes, “new orders has already dropped below 50, and the production index is likely to follow lower soon,” it adds. One positive within the data could be the supplier delivery times continuing to pull-back from elevated levels. “The US manufacturing sector is likely to be in a prolonged slump at least through next year,” CS writes, “tighter financial conditions are leading to a decline in consumer goods demand and business investment.” That said, Credit Suisse thinks a US recession can still be avoided, but argues that risks are rising and cyclical sectors will continue to remain under pressure. Elsewhere, the services ISM, released on Wednesday, is seen easing to 54.0 from 55.3. RBA Policy Announcement (Tue): The Q2 CPI release seen this week has somewhat tempered and unified expectations for the RBA to hike by 50bps at its upcoming meeting – with money markets pricing in a 95.3% chance of such a hike, and a 4.7% probability of a 25bps move. To recap, headline CPI Q/Q and Y/Y both missed forecasts by 0.1ppts, whilst the Trimmed Y/Y printed 0.2ppts above expectations and the Weighted Mean 0.1ppts under forecasts - the rest of the data was in-line with expectations. “A further 50bp in September will take rates to a level close to, but still slightly lower than, neutral (2.35%), and thereafter the RBA might consider that further moves can be done at a more leisurely pace depending on the run of data”, say the analysts at ING. Desks also point out that since the RBA meets each month, they have greater flexibility to react to data. All-in-all, given the recent set of numbers and as things stand, there are no expectations for the RBA to surprise, with Deutsche Bank and Goldman Sachs also revising their outside bets to a 50bps hike in August from their prior views of 75bps. JTC/JMMC/OPEC+ (Tue/Wed): This meeting will be more convoluted than the July confab as the group is set to decide on policy for September. Thus far, sources have suggested that OPEC+ will likely discuss either maintaining current production or increasing output by a small increment, with most of the sources cited by Reuters (five out of eight) implying that production will likely be held. Upping production will please Washington, with a Senior US official recently stating that the administration is optimistic that there could be some positive announcements coming out of OPEC. However, OPEC+ is burdened with limited spare capacity, with Saudi Arabia and the UAE likely to bear most of the output hikes on their shoulders. As a reminder, the IEA estimates Saudi has a short-order capacity (reachable in less than 90 days) of around 1.2mln BPD, with the longer-term capacity predicted to be nearer to 2.1mln BPD. The argument OPEC watchers have been flagging is the state of confidence in the group (to stabilize the oil market) if they have no spare capacity, with oil traders warning of a potential upward spiral in oil prices if this “worst case” scenario was to occur. Reuters sources added that given the easing of prices since March, there isn’t a strong argument to further hike output at this meeting. Meanwhile, in the case of a hike, no increments have been flagged thus far and will likely be discussed at the meeting, with sources throughout the meeting days likely to test the waters. In terms of the schedule, the Joint Technical Committee (JTC) will meet on Tuesday at 12:00BST/07:00EDT – the group will review oil market developments. On Wednesday, the Joint Ministerial Monitoring Committee (JMMC) will review the findings of the JTC and make a recommendation to the decision-making OPEC+ group. The JMMC is set to meet at 12:00BST/07:00EDT, with the OPEC+ ministerial meeting to follow. Swiss CPI (Wed): The June metric came in at 3.4% YY vs exp. 3.2% and lifting from the prior 2.9%; unsurprisingly, given the energy situation, much of this was due to imported products. A release that surpassed the SNB’s peak Q3-2022 inflation forecast of 3.2% from the June policy announcement; reminder, at this gathering the SNB delivered an unexpected 50bp hike (to -0.25%) and said further increases cannot be ruled out. Since then, as part of a “National Bank in Brief” release which, interestingly, is designed for “schools and the general public” and is not listed as an “economic publication” the SNB said it “may take monetary policy measures at any time between regular assessment dates if circumstances so require.”. In wake of this noted CHF appreciation was seen. Commentary which has heightened the focus on Swiss inflation prints and the potential for intra-meeting action by the SNB, an approach they have ample precedent for. More broadly, it is worth recalling that multiple other central banks and particularly the ECB have undertaken above-exp. hikes since the SNB’s move; which, at the current juncture, has put the SNB’s Key Rate back below the ECB’s Deposit Rate (-0.25% vs 0.00% respectively) and thus erodes the relative rate dynamics that were assisting the CHF. Recall, Chairman Jordan outlined that a weaker CHF was one of the drivers of inflation and they were prepared to sell foreign FX if the Franc weakened further. BCB Policy Announcement (Wed): In June, the COPOM lifted the Selic rate by 50bps, taking it to 13.25%. The statement was more hawkish than expected, with the central bank suggesting that it could raise rates further in the months ahead; there was a building expectation that the COPOM could have signalled the end of the hiking cycle at the June meeting. “The COPOM foresees a new hike of the same or lower magnitude, which then leaves little to no room for stopping the hiking cycle at 13.25%,” Rabobank said, “this is the more hawkish aspect of this statement, raising the odds of driving inflation expectations closer to the target.” But Rabo notes that the central bank now also says that its strategy is consistent with inflation convergence to ‘a level around’ its target, instead of its target midpoint, which is a sign that the current monetary policy cycle is at a very advanced stage. Rabo has argued that despite fears that the global economy is slowing, the it still sees the BCB hiking by 50bps in August, and then keeping rates at that level through the end of the year. “Even though we expect a longer Selic hiking cycle than at the beginning of 2022, we believe the Fed’s recent display of hawkishness and the intensification of the traditional electoral cycle will end up weighing on the BRL and other local assets going forward.” BoE Policy Announcement (Thu): The overall consensus looks for a 25bps hike to the Bank Rate to 1.5%, however, surveyed analysts are split in their views. 29/54 polled by Reuters expect a 25bps increase with the remaining 25 looking for a larger increment of 50bps. As such, there is a high level of uncertainty heading into the event and it remains unclear how many, if any, members will join Mann, Saunders and Haskell in voting for a 50bps hike. Market pricing has a higher level of conviction for the meeting with a 50bps increase priced in via a circa 90% probability; this is most likely a by-product of larger increases by other major global central banks such as the ECB and Fed. Looking further ahead, markets anticipate around 150bps of tightening by year-end. The ambiguity in the analyst community in part stems from the lack of clear guidance from MPC officials with Governor Bailey noting that a 50bps increase will be amongst the choices for the meeting (which is not a surprise given recent hawkish dissent), but cautioning against betting on such an outcome. Even hawkish dissenter Saunders refrained from suggesting how he would vote next week. From a data perspective, the June Y/Y CPI print rose to 9.4% from 9.1% and therefore exceeded the MPC’s forecast of 9.1%. However, survey metrics in July declined from prior levels with S&P Global noting that "UK economic growth slowed to a crawl in July”. Furthermore, the latest jobs data suggests that the labour market is no longer tightening. Of those looking for a 25bps increase, Oxford Economics suggests that although the outcome of the meeting is “finely balanced”, the consultancy favours a 25bps move given that “the likely increase in the BoE's inflation forecast will be due to factors outside the MPC's control”. Furthermore, Oxford Economics sees “scant evidence of second-round effects via higher wage growth, and surveys have shown a retreat in cost pressures”. As well as the decision itself, markets will be looking for any adjustments to the Bank’s current guidance that states “the Committee will be particularly alert to indications of more persistent inflationary pressures, and will if necessary act forcefully in response”. Elsewhere, traders will be eyeing any details around the Bank’s plans for selling its Gilts held in the APF. In a recent speech, Bailey noted that details of the MPC’s plans will be published alongside the MPR with a potential confirmatory vote by the MPC to follow as early as September. In terms of a potential size, Bailey noted that “we are currently looking at a total reduction in the stock of gilts held by the APF, which covers both sales and gilt redemptions, of something in the region of £50‐100bn in the first year”. US Labour Market Report (Fri): The rate of US nonfarm payrolls is again expected to moderate, to 255k in July, the slowest rate of monthly payroll additions since December 2020. For reference: The 3-month moving average is 375k; the 6-month average is 457k, which is also the monthly average of 2022; and the 12-month average is 524k. The jobless rate is expected to remain unchanged at 3.6%. Average hourly earnings are expected to increase by 0.3% M/M, matching the rate seen in June. July’s data will perhaps carry more weight than in recent months since it could be more influential in determining the outcome of the September FOMC meeting. Economists have been citing the still strong labour market as a key premise of why the US economy is not in recession, following data which this week confirmed that the economy contracted in both Q1 and Q2, which some define as a technical recession. The Fed has indicated that it is now setting policy on a meeting-by-meeting basis, where incoming data will be the basis of its policy decisions; that said, the central bank has also suggested that inflation remains its number one priority, and it is prepared to take monetary policy into restrictive territory to cap the inflation upside, and accordingly, the central bank is still expected to aggressively tighten rates even if there is evident weakness elsewhere – the question will be the magnitude. Canadian Labour Market Report (Fri): The previous labour market report revealed that the Canadian economy lost 43k jobs in June. The BoC’s MPR this month noted that the economy was operating beyond its productive capacity, and the labour market was “tight along all dimensions,” with most indicators suggesting that it had surpassed its maximum sustainable employment levels. Businesses continue to report capacity constraints, including labour shortages and supply chain challenges, according to the BoC’s recent Business Outlook Survey, and supply constraints are still weighing on production and sales. The result of the shortages in the labour market is wages are being pushed higher. “The Bank of Canada is very likely to ignore a surprise loss of 43k jobs in June,” Scotiabank said, “its fixation is upon their inflation mandate with inflation running at about four times its 2% target.” But Scotia argues that the underlying details of the June jobs data were more hawkish than the headline suggested; accordingly, Scotia has argued that the BoC realises that it will need to ‘break a few tea cups’ along the path toward engineering cooler inflation through a combination of monetary tightening with a possible eventual assist from supply chains. This article originally appeared on Newsquawk. Try a 14-day trial and hear breaking trading news as it happens. This article was written by Newsquawk Analysis at www.forexlive.com.
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Saturday 30 July 2022

forex usdjpy eurgbp usdchf usdcad analysis july 31st 2022

FOREX WEEKLY ANALYSIS AUGUST 1 TO AUGUST 5 2022


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FOREX WEEKLY ANALYSIS AUGUST 1 TO AUGUST 5 2022

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InvestAnswers Host Explains Why He Is Bullish on Ethereum Competitor Fantom ($FTM)

The host of Financial freedom show “InvestAnswers” says that one of the on-chain metrics for Ethereum competitor Fantom ($FTM) is looking bullish. Here is a little introduction by the Fantom team to this exciting platform: “Fantom is a high-performance, scalable, and secure smart-contract platform. It is designed to overcome the limitations of previous generation blockchain platforms. Fantom […]
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Binance Token (BNB) Investors Are Purchasing Gnox (GNOX) Presale With (BUSD) On Binance Smart Chain (BSC)

Binance investors are one of the most powerful and wealthy groups of crypto holders, and they play a major role in influencing the price. Recently, the attention of Binance investors has been drawn to Gnox, an emerging DeFi project with huge potential. Why do BNB investors invest in Gnox and what gives them the confidence to add the token to their portfolio? Largest market players: BNB Whales BNB investors are among the biggest market participants right now and have a big influence on market trends. Over the past few months, the proportion of Binance Coin investors holding 100,000 or more BNB has increased by 84.6 percent. It is obvious why BNB investors' choice merits consideration. According to data from WhaleStats, Gnox has been on the list of coins that BNB investors have been purchasing. BNB investors have consistently placed their faith in DOGE. Their holdings consist of 28.82% of the meme cryptocurrency. Although DOGE has a lot of potential, it is a relatively old project, and in an effort to drive up the price of Gnox, BNB investors are spending a lot of time discussing it. What is the idea behind Gnox (GNOX)? Gnox is a ground-breaking reflection token that operates on top of BSC and offers yield farming as a service. It aims to offer investors a streamlined DeFi platform to make it simple for their holders to generate passive income. To make the rewarding system function, Gnox levies a 10% royalty fee on each sale of their tokens. A sizable portion of tax revenue supports the treasury and ensures its expansion, and a portion is distributed to investors as a perk. The project's main objective is to make it simple for new investors to work with DeFi and generate passive returns. One percent of the total amount of each Gnox payment is distributed among their holders hourly. With a final release scheduled for mid-August, Gnox is currently in the pre-sale stage. Even as the bear market persists, the cost of this ground-breaking project has increased by 63 percent. The outstanding performance gave BNB whales the assurance they needed to increase their holdings of Gnox Learn more about Gnox: Join Presale: https://presale.gnox.io/register Website: https://gnox.io Telegram: https://t.me/gnoxfinancial Discord: https://discord.com/invite/mnWbweQRJB Twitter: https://twitter.com/gnox_io Instagram: https://www.instagram.com/gnox.io   Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
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Uniglo (GLO) KYC Influences Investors To Contribute To Their Presale Following The Steps Of Cardano (ADA) & Fantom (FTM)

Picking up a cryptocurrency while it's still in pre-sale can be a massive deal. You get the chance to invest in a project while it's still in very early stages, hopefully before it goes on to stratospheric gains. While some crypto projects don't always rise that much at this time, there's one that's been performing extremely well, and analysts think is setting itself up for a huge future: Uniglo. Just imagine if you had the chance to invest in the likes of ETH, BTC, SHIB or DOGE while they were still in pre-sale. You could be lining up your next Lambo purchase by now. Well with GLO, you get the opportunity to get involved with a cryptocurrency from the ground up, hopefully all the way up to the top. Experts think it could have the potential to rival the likes of Cardano (ADA) or Fantom (FTM) as one of the main players in the altcoin market. Why is GLO getting such high praise? Let's have a look... Uniglo's recent KYC certification helps increase pre-sale following Alongside a huge raft of high-end technology and unique answers to problems in the currency world, Uniglo (GLO) recently completed full KYC certification. Security is important in the crypto world, so this now gives investors even more peace of mind that their money is in a secure place. And alongside next-level security features, some of the real security in GLO is because of its price security. Fully backed by a range of assets stored in GLO's vault, the system offers a true gold standard in the financial world. Assets are completely diversified and not reliant on the performance of BTC or any single product. Some of these stored assets even include real world gold. This provides a strong and stable backing, and a secure store of value that fiat currencies lost when they scrapped the gold standard. Glo will continue to become more scarce over time, thanks to incredible dual-burn mechanics. This reduces supply and makes the potential for solid growth for GLO very strong. It's also a currency people can actually use and have faith isn't going to pump or dump. That's why analysts love GLO right now. What about Cardano and Fantom? Cardano and Fantom are both two of the more established altcoins, but GLO has the potential to reach and surpass them. Both Fantom and Cardano offer a range of passive earning potential and a number of solutions for both holders and blockchain developers. They're key parts of the crypto space, and some argue now is the time to increase your investments in them as they're arguably available at a discount. Conclusion GLO is gaining more momentum in pre-sale, especially thanks to KYC certification. It solves key issues in the financial world, and could go on to rival Cardano and Fantom in the altcoin charts. Find Out More Here: Join Presale:  https://presale.uniglo.io/register  Website:  https://uniglo.io  Telegram: https://t.me/GloFoundation Discord:  https://discord.gg/a38KRnjQvW  Twitter:  https://twitter.com/GloFoundation1 Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
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$SOL: There Is Now a Solana Experience Store in New York City

On Thursday (July 28), Solana Spaces, which was established with the help of Solana Foundation, announced “the opening of the world’s first permanent physical retail, educational, and community space dedicated to Web3” in New York City. According to a press release by Solana Spaces, which is based in San Francisco, aims to set up “a […]
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Binance CEO on Why Currently There Is a Positive Correlation Between Stocks and Crypto

On Thursday (July 28), Binance Co-Founder and CEO Changpeng Zhao (better known as “CZ”) shared his thoughts on the crypto market. CZ — who has, according to Forbes, an estimated net worth (as of 30 July 2022) of around $17.4 billion made his comments during an interview with Carl Quintanilla , co-anchor of CNBC’s “Squawk on […]
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Friday 29 July 2022

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UK June mortgage approvals 63.73k vs 65.00k expected

* Prior 66.16k; revised to 65.68k * Net consumer credit £1.8 billion vs £1.0 billion expected * Prior £0.8 billion; revised to £0.9 billion Net borrowing of mortgage debt by UK individuals decreased to £5.3 billion in June, down from £8.0 billion in May but remains above its 12-month pre-pandemic average up to February 2020 of £4.3 billion. Meanwhile, approvals for home purchases - an indicator of future borrowing - dropped to ~63,700 in June and that is below the 12-month pre-pandemic average up to February 2020 of ~66,700. As for consumer credit growth, it is seen at 6.5% year-on-year - the highest since May 2019 - although the cost-of-living crisis is not quite captured in these numbers. /GBP This article was written by Justin Low at www.forexlive.com.
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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0129; (P) 1.0182; (R1) 1.0249; More… EUR/USD is still bounded in familiar range and intraday bias remains neutral. On the upside, above 1.0277 minor resistance will target 1.0348 resistance first. Break there will target channel resistance at 1.0469. on the downside, break of 1.0095 minor support will bring retest of 0.9951 low […] The post EUR/USD Daily Outlook appeared first on Action Forex.
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GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2124; (P) 1.2158; (R1) 1.2212; More… GBP/USD’s rise from 1.1759 is still in progress and intraday bias stays on the upside for 1.2405 resistance first. Firm break there will target 1.2666 key resistance next. On the downside, break of 1.2019 minor support will turn bias back to the downside for retesting 1.1759 […] The post GBP/USD Daily Outlook appeared first on Action Forex.
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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9519; (P) 0.9575; (R1) 0.9606; More… Intraday bias in USD/CHF stays on the downside for 0.9493 support and possibly below. Price actions from 1.0063 high are still viewed as a consolidation pattern. Hence, Strong support should be seen from 0.9471 resistance turned support to bring rebound. On the upside, above 0.9598 minor […] The post USD/CHF Daily Outlook appeared first on Action Forex.
http://dlvr.it/SVhq7l

France July preliminary CPI +6.1% vs +6.0% y/y expected

* Prior +5.8% * CPI +0.3% vs +0.3% m/m expected * Prior +0.7% * HICP +6.8% vs +6.7% y/y expected * Prior +6.5% * HICP +0.3% vs +0.3% m/m expected * Prior +0.9% French inflation continues to tick higher with the monthly reading also showing yet another increase in consumer prices - seeing a rise in 16 out of the last 17 months. That won't be too comforting for consumption activity with Q2 GDP data earlier having already shown domestic demand grinding to a halt. This article was written by Justin Low at www.forexlive.com.
http://dlvr.it/SVhq2Y

Dollar down across the board

It's not a good look to start the day for the dollar as the selling in USD/JPY is reverberating elsewhere now as we get into the early stages of European morning trade. EUR/USD has pulled higher by 0.5% to 1.0250 now while GBP/USD is also up 0.5% to 1.2225 at the moment. There are some key levels in focus at the moment, so let's take a look at the charts. For EUR/USD, the euro's lack of optimism in itself is still seeing the 50.0 Fib retracement level at 1.0283 being the key resistance point for the pair: That will continue to limit price action for the pair but just be wary that there are large option expiries seen at 1.0245-50 that could prove to be a bit of a magnet before rolling off later in the day. Meanwhile, GBP/USD is looking to try and establish another upside leg with a push above 1.2200 currently: The pair is looking for a push above the figure level as well as the 50.0 Fib retracement level of the recent downswing at 1.2213. That paves the way for a further push towards the 61.8 Fib retracement level at 1.2320 alongside swing highs around 1.2325-32 before getting to the 1.2400 level. Looking at commodity currencies, USD/CAD is testing waters below 1.2800 and the technical push below the support region around 1.2815-20 is now opening the path towards testing the 100-day moving average (red line) at 1.2774: Then we have AUD/USD, which is up 0.6% on the day to 0.7030 and contesting a firm break above the 0.7000 mark: Stay above and that will put the focus on the 61.8 Fib retracement level at 0.7053 as well as the 16 June high at 0.7069 before looking towards the 100-day moving average (red line) at 0.7120 currently. This article was written by Justin Low at www.forexlive.com.
http://dlvr.it/SVhpvK

Eurostoxx futures +0.5% in early European trading

* German DAX futures +0.5% * UK FTSE futures +0.3% * Spanish IBEX futures +0.3% This mirrors the mood in US futures, with S&P 500 futures seen up 26 points, or 0.6%, on the day. This comes after yet another rally in Wall Street as bad news is good news following the US Q2 GDP data yesterday. This article was written by Justin Low at www.forexlive.com.
http://dlvr.it/SVhppS

Thursday 28 July 2022

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8369; (P) 0.8397; (R1) 0.8419; More… EUR/GBP’s fall from 0.8720 resumed by breaking through 0.8401 support. The development also affirms the case of rejection by 0.8697 fibonacci level. Intraday bias stays on the downside for deeper fall to 0.8720 low. On the upside, above 0.8424 minor resistance will turn intraday bias neutral […] The post EUR/GBP Daily Outlook appeared first on Action Forex.
http://dlvr.it/SVdsLG

EUR/CHF Daily Outlook

Daily Pivots: (S1) 0.9751; (P) 0.9774; (R1) 0.9810; More…. EUR/CHF is losing downside momentum again. But further decline is still expected as long as 0.9948 resistance holds. Current down trend should target 0.9650 long term projection level. On the upside, however, considering bullish convergence condition in 4 hour MACD, break of 0.9948 should confirm short […] The post EUR/CHF Daily Outlook appeared first on Action Forex.
http://dlvr.it/SVdh9l

USD plunges to 3-week low versus JPY

Yesterday, the 2-day uptrend on USD/JPY stopped. During the trading day, the pair hit the 3-week low. Why did the greenback collapse? How long will it stay in the red zone? On Thursday night, the dollar index, which measures the greenback against six counterparts, edged 0.59% lower to 106.28, pushing the yen higher. Yesterday, USD/JPY lost almost 1%, coming in at 135.105, unseen since July 6. A sell-off of the dollar started right after the FOMC meeting. The regulator lifted the interest rate by another 0.75%, as expected. Demand for the greenback decreased following Chair Powell's statement. The policymaker hinted that the Fed might slow the pace of rate hikes. He said that interest rates have reached a "neutral level," meaning a potential slowdown in the pace of rate increases. Powell stressed that the Fed is edging away from detailed forward guidance. So, the size of further rate hikes is likely to be determined directly at each meeting. Powell turned out to be less hawkish than the market feared. In this light, government bond yields decreased. The yield on 10-year government bonds fell by 4 basis points to 2.78%, while the 2-year Treasury yield dropped to 2.98% on Powell's comments. US yield curve inversion is still at its highest level since 2000. Experts see it as a signal of an impending economic downturn.Today, the US will see the release of data on Q2 GDP. Figures are forecast to fall to 0.5 from 1.6% in the previous period.If the results come in line with the forecast, it will indicate a technical recession in the US. Potentially disappointing data from the US, which may affect the further pace of monetary tightening, provides support for USD/JPY bears. Today, the yen is strengthening versus the dollar despite the latest comments from Bank of Japan Deputy Governor Masayoshi Amamiya. On Thursday, the official said that the Japanese regulator should persist with its loose monetary policy due to an unsustainable economic recovery and the uncertainty surrounding wage growth. In light of the dovish BoJ, USD/JPY is highly likely to extend the downtrend. A wide gap between interest rates in the US and Japan will support the greenback. Therefore, the current fall in the dollar should be seen as a mere pullback. In the short term, analysts expect USD/JPY to extend the uptrend from the mark of 135 to 140.The material has been provided by InstaForex Company - www.instaforex.com
http://dlvr.it/SVdgDQ

Bavaria July CPI 8.0% vs 7.9% y/y prior

* Hesse CPI 7.6% vs 8.1% y/y prior * Brandenburg CPI 7.6% vs 8.0% y/y prior * Baden-Wuerttemberg CPI 7.1% vs 7.1% y/y prior On the balance of things, the annual inflation readings are tilting a little lower even after the surprise from the higher reading seen in North Rhine Westphalia earlier in the day. It sets out a bit of mixed expectations and it will come down to the kicker from Saxony in the next hour. Just take note that all the monthly readings are higher though: Bavaria +0.6%, Hesse +0.4%, Brandenburg +1.0%, Baden-Wuerttemberg +0.8%. This article was written by Justin Low at www.forexlive.com.
http://dlvr.it/SVdcbD

USD/JPY the notable mover so far today

Some heavy flows in Asia kicked down the pair with the yen gaining across the board but we are seeing USD/JPY sellers pull short of firmly contesting the 135.00 mark. In the big picture, we've been somewhat caught around the range of 135.00 to 140.00 since the start of the month and as much as the yen move today is notable, it is still keeping within that region. Now, the Fed yesterday saw a subtle shift in communication but all in all, I don't see them turning tail on more aggressive rate hikes i.e. anything more than 25 bps until September at the very least. But as Powell noted, it is all going to come down to the data and so markets will have to fill in the blanks with those as well as having to digest commentary from Fed speakers. The interesting development on the day is that Treasury yields are pulling higher and that could spill over to USD/JPY as well - also pushing the pair higher. That could see the early losses today pare back somewhat but until there is conviction to push for a break on either side of 135.00 and 140.00, the "consolidation" at the top is keeping buyers poised still. This article was written by Justin Low at www.forexlive.com.
http://dlvr.it/SVdXJP

Treasury yields pull higher in European morning trade

It is tough to square this one up with the rally in equities and the stumble in the dollar yesterday. If the emphasis is on the Fed potentially slowing down or is perceived to be less hawkish, you'd figure yields will fall. But instead, here we are. There's going to be quite a bit to digest before the week is over and at the end of the day, someone has to be right. More often than not, the saying is that the bond market is always right but these are peculiar times in markets. So, we'll see. In any case, there is a big level that is holding for 10-year Treasury yields now that we've cleared the Fed and that seems to be where traders are drawing the line to get back with the selling in bonds: 10-year yields are up by 8 bps to 2.81% on the day but that hasn't had much effect on the Japanese yen. USD/JPY is still down 0.7% on the day to 135.55 currently after having hit a low of 135.11 earlier in the day. I'd wager if yields continue to hold higher, that will eventually bring up yen pairs but we're still caught in the post-Fed market right now and there's also US Q2 GDP data to follow later in the day. All of that will make for an interesting couple of sessions before the weekend comes around. This article was written by Justin Low at www.forexlive.com.
http://dlvr.it/SVdX69

European equities open higher to start the day

* Eurostoxx +0.4% * Germany DAX +0.3% * France CAC 40 +0.6% * UK FTSE +0.6% * Spain IBEX +0.7% Modest gains at the open but in part, they are to do with a catch up to the large gains in Wall Street yesterday. In terms of overall risk sentiment, things are more tentative today with S&P 500 futures down 0.2%, Nasdaq futures down 0.4%, and Dow futures down 0.1% at the moment. This article was written by Justin Low at www.forexlive.com.
http://dlvr.it/SVdWxM

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9567; (P) 0.9613; (R1) 0.9642; More… Intraday bias in USD/CHF stays on the downside at this point. Fall from 0.9884 is seen as a falling leg of the consolidation from 1.0063. Deeper decline would be seen to 0.9493 support. On the upside, though, above 0.9738 minor resistance will turn bias back to […] The post USD/CHF Daily Outlook appeared first on Action Forex.
http://dlvr.it/SVdSHs

Wednesday 27 July 2022

Avalanche Ecosystem To See Influx Of Big Name Brands, Reveals CEO John Wu

Ava Labs president John Wu recently sat down for an interview with Anthony Pompliano and discussed what the future holds for Avalanche (AVAX). The Avalanche CEO revealed that several “Big Name Brands” are set to enter the Avalanche ecosystem over the next year.  Big Things In The Offing  The President of Ava Labs, John Wu, was obviously excited as he spoke about the prospects of the Ethereum challenger. In the interview, he revealed that several partnerships were in the works and could come to fruition over the next 12 months. He revealed that several mainstream companies from the world of gaming and finance were in talks with Avalanche and would be onboarding with Avalanche and its ecosystem soon.  He stated in the interview with Anthony Pompliano,  It’s still that same theme of real-world assets coming into this ecosystem and growing the ecosystem for everyone, both on the side of financial services as well as on the gaming side. We have a lot of visibility to gaming as well because the subnets have been really adopted by a lot of gamers to basically create their own execution environment in a very quick manner. Those are two areas that we’re super excited [about]. I wish I could give you specific names, but to the audience, just stay tuned, and they’ll hear about it very shortly.” Traditional Finance Is Bogged Down  Wu also spoke about traditional finance and the inefficiency that is hindering it. He stated that traditional finance is bogged down due to a lack of inefficiency and glaring inconsistencies in the interconnectedness of databases, leading to data siloing.  “The financial institutions are very aware that the power of the blockchain, or the crypto system, is that when you need information and money to move at the same time, blockchain is a very powerful tool for that. When you settle a stock, there are so many intermediaries. Credit cards, there are so many intermediaries. And they’re all working off of their own respective databases, and lots of reconciliation has to happen.” Blockchain Will Be Hugely Beneficial  He stated that he believes traditional financial companies need to implement blockchain technology, which would be hugely beneficial as it would simplify the transaction process by eliminating any links in the transaction-settling chain.  “A lot of the financial services players are actually experimenting with blockchain. The amount of experimentation of blockchain development – not just experimentation, innovation labs – but the amount of development They are looking at the technology as a way to create efficiency and create more productivity and squeeze costs out.” Avalanche's Contagion Troubles  Avalanche had earlier revealed that the Luna Foundation Guard, the company behind the failed reserve fund for the UST stablecoin, had not outlined any plans for the over 2 million AVAX tokens it holds. Avalanche had shared the update with its community amidst an increasing number of inquiries from the Avalanche community about the AVAX tokens in custody with the Luna Foundation Guard. With the value of the AVAX tokens around $30 at the time, the value of AVAX that was held with LFG was around $60 million, making it the second-largest holding in the foundation’s reserve. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
http://dlvr.it/SVZN1X

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.1965; (P) 1.2027; (R1) 1.2091; More… Intraday bias in GBP/USD stays neutral for the moment, but further rise is mildly in favor with 1.1888 minor support intact. Above 1.2089 will target 55 day EMA (now at 1.2236). Sustained trading above there will pave the way to 1.2405 resistance and above. On the […] The post GBP/USD Daily Outlook appeared first on Action Forex.
http://dlvr.it/SVZMMb

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9609; (P) 0.9638; (R1) 0.9661; More… Intraday bias in USD/CHF stays mildly on the downside with 0.9738 minor resistance intact. Fall from 0.9884 is seen as a falling leg of the consolidation from 1.0063. Deeper decline would be seen to 0.9493 support. On the upside, though, above 0.9738 minor resistance will turn […] The post USD/CHF Daily Outlook appeared first on Action Forex.
http://dlvr.it/SVZLZp

USD/JPY Daily Outlook

Daily Pivots: (S1) 136.48; (P) 136.73; (R1) 137.17; More… Range trading continues in USD/JPY and intraday bias remains neutral at this point. On the downside, firm break of 134.73 will confirm short term topping, on bearish divergence condition in 4 hour and daily MACD. Deeper fall would be seen through 55 day EMA to 126.35/131.34 […] The post USD/JPY Daily Outlook appeared first on Action Forex.
http://dlvr.it/SVZLWj

AUD/USD Daily Report

Daily Pivots: (S1) 0.6912; (P) 0.6948; (R1) 0.6973; More… Intraday bias in AUD/USD is turned neutral again with current retreat. On the upside, break of 0.6982, and sustained trading above 55 day EMA (now at 0.6965) will pave the way to 0.7282 resistance next. On the downside, however, break of 0.6858 minor support will argue […] The post AUD/USD Daily Report appeared first on Action Forex.
http://dlvr.it/SVZLPb

Bitcoin settles at $21K ahead of FOMC

Bitcoin is clinging to the $21,000 level, having changed little in the past 24 hours, while Ethereum is adding 1.7% overnight to $1450. Prices of the top altcoins range from -0.6% (Cardano) to +4.2% (BNB). The total capitalisation of the crypto market, according to CoinMarketCap, rose 0.85% to $978bn overnight. Bitcoin came under increased pressure on Tuesday, but the sell-off stalled during the New York trading session as it was supported by buying on declines below 21,000. Markets await the US Federal Reserve's rate decision to be announced on Wednesday and are set to see the Fed's another 75 points hike, but futures are pricing a 20% chance of a 100-points hike. Some speculators are rushing to bet that we will see a relaxation rally when the most pessimistic expectations do not come true. According to CoinShares, capital inflows into crypto funds last week amounted to $30M, of which $19M for BTC. At the same time, investments in funds, which allow opening shorts on bitcoin, dropped sharply (to $0.6 mln). The previous week's total capital inflows sharply revised from $12M to $343M. The number of ransomware attacks fell by 23% amid the decline in the crypto market, SonicWall noted. The US Commodity Futures Trading Commission (CFTC) will create a new Office of Technology Innovation to regulate the cryptocurrency industry. According to Bloomberg, the US Securities and Exchange Commission is conducting a full-scale investigation into token listings on Coinbase that could be treated as securities. This article was written by FxPro FXPro at www.forexlive.com.
http://dlvr.it/SVZKW9

Fed day is upon us

The main event in trading this week is the FOMC meeting and we will get the policy decision later today followed by Fed chair Powell's press conference. Fed fund futures show that odds of a 75 bps rate hike stand at ~75% and that outlines how the market is positioned going into the decision. The rate hike itself may not be the main thing to watch though. Instead, traders will likely be more interested in how the Fed positions its views on the economy and balances that out against their resolve to beat inflation. I don't expect us to be in a spot where the central bank is looking to pivot yet as there will be more rate hikes to go in the months ahead. In case you need a reminder, the Fed funds rate is now at 1.50% - 1.75% so another 75 bps rate hike will bring that to 2.25% - 2.50% with three more FOMC meetings to go through before year end. The terminal rate to the cycle is seen roughly around the 3.50% to 4.00% range but I'm inclined to think the former seems more likely given the circumstances. The positive thing for the dollar is that the Fed's window to tighten isn't as narrow as other major central banks like the ECB and BOE. That affords some room to work with today and I would expect policymakers to make full use of that. But any subtle shifts in the dynamics may be all that is needed for stocks to run and the dollar to turn tail in the other direction. After all, a recession may not be the worst thing for risk trades. Going back to the Fed, Adam posted a great preview yesterday here, in case you missed it. This article was written by Justin Low at www.forexlive.com.
http://dlvr.it/SVZC8J

Tuesday 26 July 2022

FOREX PENDING ORDER AND STOPLOSS TAKEPROFIT EXPLAINED

Guaranteeing Your Financial Future may be as Simple as Investing Now in Uniglo (GLO), Fantom (FTM), and Ethereum (ETH)

As the economy becomes increasingly uncertain, securing your financial future has become a top priority. But contrary to what most people believe, building a financial safety net is not has daunting as it sounds. Today, people in the work force have access to investment assets that can augment their earnings. To achieve consistent and significant growth, investing in both traditional and non-traditional alternatives is important. Cryptocurrencies fall under the category of non-traditional investments options simply because the market still views them as unstable and not as reliable as time-tested options such as cash or publicly traded stocks. But if you knew which cryptos to put your eggs in, you could build your wealth with some degree of regularity. For us, investing in Uniglo (GLO), Fantom (FTM), and Ethereum (ETH) is a solid path to take. Uniglo (GLO) The first crypto we recommend is Uniglo – a community-based social currency that started the first phase of presale last July 15. This project has caught the attention of big investors because of the implementation of a specialized Ultra-Burn Mechanism designed to promote the value of its GLO token. The project also has a multi-asset treasury to help hedge against bear markets and price fluctuations. This means that digital and tangible assets will underpin the value of the GLO token. The Uniglo protocol is designed to favor those with an appetite for long-term investment and wealth building. Those who stick with the protocol for a long time will see their GLO tokens increase in value regardless of the state of the market. Fantom (FTM) We also recommend investing in Fantom for guaranteeing your financial future. Fantom is a blockchain for cryptocurrency decentralized applications and enterprise solutions. It is known for facilitating fast transactions and payment processes while ensuring network security. The Fantom community constantly welcomes new users and developers, which proves how popular and reliable the platform is. Compared to most other cryptos, Fantom’s FTM token is showing signs of a break from the bearish sentiment. In recent weeks, the price of FTM even surged 45%, which could offer strong earning potential for those who invest in it now. Ethereum (ETH) Our third and last pick is Ethereum – the second largest and most well-known cryptocurrency in the world. Unlike the crypto king Bitcoin, Ethereum has more than its coin to offer. It is a multifaceted platform on which many other DeFi projects and blockchains rely. Despite the bearish market, many users and investors stick with Etheruem because of its ubiquity and stability. Just recently, a whale purchased $1.7 billion worth of ETH futures contracts all in one hour – this just further demonstrates the extent of trust and confidence that big investors have in the services and future of Ethereum. The bottom line Guaranteeing your financial future can be done in the long term. And an above-average understanding of cryptocurrencies will tell you that investing in long-term oriented digital assets such as the three above can significantly augment the wealth you build over time. Learn More Here: Join Presale: https://presale.uniglo.io/register Website: https://uniglo.io Telegram: https://t.me/GloFoundation Discord: https://discord.gg/a38KRnjQvW Twitter: https://twitter.com/GloFoundation1 Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
http://dlvr.it/SVWHVP

Analysts Predict The Top Bullish Cryptos For Market Reversal; Gnox (GNOX), Ethereum (ETH) and Quant (GNT)

Crypto analysts claim we are currently in a market reversal, and there will be digital assets that will present excellent trading opportunities in the coming days. With many cryptos demonstrating bullish signals, analysts believe Gnox, Ethereum, and Quant will go into an uptrend position. Gnox (GNOX) Gnox is a new cryptocurrency that has increased by more than 63 percent in recent weeks. It is one of the top picks of the experts to perform even better when the market turns bullish because of this. Gnox's recent success is even more astounding when you consider how much the majority of other cryptocurrencies have lost. Furthermore, Gnox is essential to promoting the advantages of DeFi investment. It is a unique platform created to offer ordinary investors real passive income in cryptocurrencies, even if they are unfamiliar with the space and do not understand how things like staking work. Gnox is crucial for the future of the entire ecosystem, which is why prices have risen despite the fact that it is still the pre-sale period. Some of these DeFi techniques have turned off newcomers. Ethereum (ETH) Since the previous week, Ethereum has increased by more than 50%. The news that The Merge has a tentative launch date gave a boost to the second-most valuable cryptocurrency in the world. This will result in Ethereum switching from a proof-of-work system to a proof-of-stake system, thereby consuming about 99.95% less energy. The cryptocurrency's creators call it "the most significant upgrade in Ethereum history." The overall crypto market returned to be above $1 trillion for the first time since June thanks to the combined surge. Quant (GNT) As the cryptocurrency market as a whole is bullish, the price of QUANT has become extremely bullish. The token is currently trading close to the $120.00 long-term supply-turned-demand zone.  In the coming days, there is a chance of a swift movement as the token consolidates close to the supply zone. The significant 50 and 100 Moving Averages have been surpassed by the price of the QUANT token. Learn more about Gnox: Join Presale: https://presale.gnox.io/register Website: https://gnox.io Telegram: https://t.me/gnoxfinancial Discord: https://discord.com/invite/mnWbweQRJB Twitter: https://twitter.com/gnox_io Instagram: https://www.instagram.com/gnox.io Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
http://dlvr.it/SVWG8X

Credit Suisse sees Eurozone in recession by year-end

The 2022 GDP growth forecast is cut from 2.4% to 2.3% and the 2023 forecast is cut from 0.7% to -0.2%. Of note, Credit Suisse sees negative GDP growth for the euro area through Q3 2022 to Q1 2023 - implying a recession. The firm adds that the largest economic contractions will be seen in Germany and Italy. This article was written by Justin Low at www.forexlive.com.
http://dlvr.it/SVWDmv

European bond yields stay on the retreat

I've been noting since yesterday that the bond market is the spot to watch in trading this week and we're seeing a return of the bids at the end of last week in trading today. 10-year German bund yields have now fallen by nearly 4 bps to 0.985% - its lowest in almost four weeks: And more importantly, it is threatening to take out a key level in the form of its 100-day moving average (red line). It's arguably a sign of traders looking for safety as recession risks continue to amplify in Europe. The PMI data on Friday was abysmal and when you throw in Russia gas cuts, it's a rather dire outlook to say the least. Adding to that, the drop in yields is also perhaps a sign that traders are getting less comfortable with the ECB even as policymakers continue to talk up their resolve to combat inflation. The window is closing to tighten policy and the ECB has a knack for timing things wrongly and hiking into a recession in the past. This article was written by Justin Low at www.forexlive.com.
http://dlvr.it/SVWBYD

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9619; (P) 0.9640; (R1) 0.9667; More… USD/CHF is losing some downside momentum. But further decline is in favor with 0.9738 minor resistance intact. Fall from 0.9884 is seen as a falling leg of the consolidation from 1.0063. Deeper decline would be seen to 0.9493 support. On the upside, though, above 0.9738 minor […] The post USD/CHF Daily Outlook appeared first on Action Forex.
http://dlvr.it/SVW6KT

USD/JPY Daily Outlook

Daily Pivots: (S1) 136.10; (P) 136.45; (R1) 137.00; More… Outlook in USD/JPY remains unchanged and intraday bias stays neutral. On the downside, firm break of 134.73 will confirm short term topping, on bearish divergence condition in 4 hour and daily MACD. Deeper fall would be seen through 55 day EMA to 126.35/131.34 support zone. On […] The post USD/JPY Daily Outlook appeared first on Action Forex.
http://dlvr.it/SVW6D0

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2806; (P) 1.2876; (R1) 1.2918; More… Intraday bias in USD/CAD remains neutral with focus on 1.2818/21 support zone. On the downside, break of 1.2818 support will bring deeper fall back to 1.2516 key support. On the upside, above 1.2988 minor resistance will reinforce near term bullishness, and turn bias back to the […] The post USD/CAD Daily Outlook appeared first on Action Forex.
http://dlvr.it/SVW5Z3

Bank of Japan June meeting minutes - recap

The post is here from earlier: * BOJ June minutes - must watch impact of FX moves Reuters have posted a recap of the minutes, making the main points: * Some in board saw price rises broadening - June meet minutes * Board agreed economic uncertainty was 'extremely high' * Many members spoke about importance of wage hikes - minutes * BOJ kept ultra-low rates, vowed to defend yield cap at June meet The longer story is there is no sign of any imminent policy change from the Bank. Link to the Reuters piece is here for a little more. This article was written by Eamonn Sheridan at www.forexlive.com.
http://dlvr.it/SVW4Vs

Monday 25 July 2022

AUD/USD Daily Report

Daily Pivots: (S1) 0.6903; (P) 0.6934; (R1) 0.6988; More… AUD/USD’s rebound from 0.6680 resumed after brief retreat and intraday bias is back on the upside. Sustained trading above 55 day EMA (now at 0.6967) will pave the way to 0.7282 resistance next. Nevertheless, break of 0.6877 will turn bias back to the downside for retesting […] The post AUD/USD Daily Report appeared first on Action Forex.
http://dlvr.it/SVVtZL

NEW! Push-Button System Gives You Red-Hot Leads in 24 Hours or Less! http://www.2000dollaraday.com

NEW! Push-Button System Gives You Red-Hot Leads in 24 Hours or Less! http://www.2000dollaraday.com
http://dlvr.it/SVVQFl

Ethereum (ETH) Whale's July Picks: Uniglo (GLO), Hex (HEX), and Chainlink (LINK)

Investors have been having a terrible first half of the year. With the Terra-Luna crash that wiped out  $40 billion from the crypto industry, coin holders have been busy scraping whatever is left at the bottom of the market’s profit barrel. But have we really reached the bottom? Does that mean the market is ready to pick up again? Unfortunately, according to analysts, there is no definitive sign yet that the skies are clearing. But we spoke to an Ethereum (ETH) whale who said that, at least for July, there are three cryptos that investors need to explore – Uniglo (GLO), Hex (HEX), and Chainlink (LINK). Uniglo (GLO) New to the industry, Uniglo is a community-based project that introduces an asset vault. The project will grow a treasury that will work in tandem with the buy-and-sell of various assets. The treasury will deal with digital cryptocurrencies as well as digitized real-world assets such as high-end watches, gold, and fine wine. By investing in tangible assets, Uniglo’s GLO token will not be as severely affected by the price volatility of digital currencies. The purpose of this strategy is, of course, to avoid the same effect the bear market has had on the rest of the cryptocurrency market. Hex (HEX) Investors also need to explore investment opportunities with Hex this month. Hex is the first certificate of deposit (CD) in blockchain technology. This platform has been very good to its early investors and stakers – so far, HEX staking offers a 38% return per year. The price of the HEX token could reach $1 within the second quarter of 2023. As of this writing, HEX is trading at $0.03 – if you purchase the token today, you might earn significantly by the following year. Chainlink (LINK) Lastly, the ETH whale we spoke to identified Chainlink as a notable investment space for July. Chainlink is a widely used oracle network built on Ethereum. Analysts identify the LINK token as one of the most bullish assets for the third quarter of 2022. This prediction is owing to Chainlink’s compatibility with all of the major blockchains and its vast functions, which span Web3 applications, decentralized applications, and decentralized autonomous organizations (DAOs). Google also recently identified Chainlink as one of their official Cloud Partners. Final takeaway For the rest of 2022, we will see a deluge of attempts at recouping investment losses. With the three cryptos above, investors can at least establish solid footing first before bringing their portfolio to better heights. Find Out More Here: Join Presale: https://presale.uniglo.io/register Website: https://uniglo.io Telegram: https://t.me/GloFoundation Discord: https://discord.gg/a38KRnjQvW Twitter: https://twitter.com/GloFoundation1 Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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Market Outlook for the Week of July 25-29

Last week the ECB raised rates by 50 bps and the markets are still evaluating the change, but the raise is not likely to impact the EUR/USD's trajectory and prevent it from further depreciating which is the expected scenario. The main events of the week ahead are: For the USD, the consumer confidence data, the FOMC Meeting and the Core PCE Price index q/q; for the AUD, the CPI q/q; and for the JPY, the Japan (Tokyo) Inflation which is not expected to have a major impact but could give an insight into how nationwide prices are evolving. The BOJ is not showing signs of joining the hawkish camp, at least for now. The political crisis in Italy, the battle for the next Prime Minister in the UK that's expected to be over in early September and the headlines about the war in Ukraine will continue to add uncertainty in the market over the coming weeks. The unprecedented heat waves hitting Europe are expected to impact the energy market in particular. The W.H.O declared monkeypox a global health emergency and it remains to be seen if the market will react in any way to this development. And finally, the month end rebalancing is also something we should keep an eye on. As we're heading into the last month of summer, market conditions could be tricky due to low liquidity. Traders will be taking a closer look at this week's FOMC minutes. After Waller recently backed a 75 bps rate hike the USD entered into a correction, but the market is now pricing in a 100 bps hike. A lot can happen until Wednesday, of course. Nomura expects a 100 bps hike, even though the consensus among analysts is now for 75 bps, as it adjusted its view after the last CPI print data. Nomura's main argument is that given the inflation increase it feels like the Fed could be behind the curve and this will help them catch up. This week's meeting will set the tone for the USD for the next month as there won't be another FOMC meeting in August; just the Jackson Hole Symposium. Nomura analysts believe that after a 100 bps hike in July, the Fed will likely slow down to a pace of 50 bps in September’s meeting, then three consecutive 25 bps hikes in November, December and February. For the AUD, all eyes will be on the CPI data which will set the tone for the next RBA meeting on August 2nd. It is hard to believe the data will be low enough to keep the RBA for hiking rates by 50 bps as expected, but if inflation exceeds expectations considerably, a 75 bps hike could come into play. USD/CAD expectations In the short term, the USD/CAD looks good for selling opportunities targeting 1.2785. On the H1 chart the pair closed the week near the 1.2945 level of resistance which, if rejected, will move the next target to the 1.2830 support. On the upside the next resistance is at 1.3040. The CAD had a positive week, but it's possible that USD selling will see some restraint before this week's FOMC meeting. According to analysts from Scotiabank the CAD's correlation with crude oil and commodities strengthened in recent weeks. This is a sign that the commodity market prices are stabilizing following the recent slide, but they won't resist the global growth slowdown over the longer term. The CAD might have the opportunity to gain some ground on the USD over the short term. It's worth noting though that the outcome of the Fed's meeting could influence the pair direction. The Dollar Index expectations While the next FOMC meeting will set the tone for the USD, there are concerns about the impact the continued USD strengthening has on vulnerable countries with a considerable portion of their sovereign debt in USD. Wells Fargo warns about potential repayment issues, sharp economic slowdown in the developing world and a rise in the probability of default. On the H1 chart the DXY is flat and it’s possible to enter a period of consolidation until Wednesday. From a technical perspective there are a few levels to watch for: The DXY is near the 106.05 support. If broken, the next level of support is 105.10. On the upside the next level of resistance is at 107.35 and 108.70. I believe the USD correction is not over yet and could continue over next month. In the long run the prospects for the USD are bullish. This article was written by Gina Constantin. This article was written by ForexLive at www.forexlive.com.
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Private Crypto Wallet Accredited to Accept New Users in Midst of Utility Token Rollout

Zug, Switzerland, 22nd July, 2022, Chainwire Accredited Finance, the cost-effective Web 3 solution for digital asset management, is accepting new sign-ups for its uniquely tailored TradFi-to-DeFi digital asset custodian as a way to expand its platform during its ecosystem token launch. The ethos of the Accredited “wallet” is simple: to unlock defi for all by onboarding the traditionally informed individual or enterprise into the expansive world of crypto in a seamless and elegant manner. In joining the platform, users will gain access to tools and insight that will help them navigate the world of DeFi without ever having to leave the app. Users will notice that interfacing with the mobile app feels more like a digital banking app than a crypto wallet, to accommodate this jump from the old world of traditional finance to the new paradigm of DeFi. The Accredited Finance mobile app was previously only available to a select user base sourced through a venture capital network, with today marking the first instance in which the ecosystem truly embraces its mission of “Defi For All” and becomes available to the general public. Aside from the Accredited Wallet, the Accredited Finance crew also offers bespoke solutions for enterprises wanting to further mobilize their liquidity. By designing and implementing Web3 financial vehicles within a compliance-neutral framework, enterprises can manage their specially tailored financial tools from within the app. Accredited is set to onboard several more enterprises into the ecosystem later this year. To encourage the expansion of the ecosystem and to help further expose users to DeFi, Accredited Finance is introducing its native utility token, ACRDT, to help flesh out its DeFi ecosystem. Said token is set to be available for public presale by July 25th and will remain on sale until mid-August. Users can access the token sale through the native Accredited Finance mobile application or through its web dashboard at accredited.finance. The ACRDT token presale has thus far been privately led by boutique venture capital firm Atomind, which has raised nearly one million dollars in its closed funding round. Upon its launch, ACRDT will unlock even more DeFi capabilities for users within the Accredited Finance ecosystem. “We wanted to create an ecosystem for traditionally-minded investors to safely participate in decentralized finance within a framework that is reminiscent of traditional financial applications,” said Accredited Finance CEO Paige Horinek. “Our community has grown to over 500 active users in less than a year. The addition of the Accredited utility token to the ecosystem will further advance our overall vision of creating a bridge between the old world of traditional finance and the new exciting world of DeFi in a compliant and cautious manner. We are excited about this next step in growing our community and user-base, which is now being bolstered through a native utility token.” About Accredited Finance Accredited Digital Asset Custodian is a web3 solution for onboarding traditionally minded financial investors onto Decentralized Financial Vehicles. Accredited comes with compliance-ready solutions for businesses wanting to introduce a distributed ledger vertical to their model through tokenization.  For more information visit https://www.accredited.finance Contacts * Paige Horinek * Accredited Finance * media@accredited.finance
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SNB total sight deposits w.e. 22 July CHF 746.6 bn vs CHF 745.4 bn prior

* Domestic sight deposits CHF 637.0 bn vs CHF 639.8 bn prior A slight increase in overall sight deposits but nothing that stands out too much. It fits with a bit more of a back and forth, push and pull in the numbers as of late - making it tough to really figure out SNB intervention. This article was written by Justin Low at www.forexlive.com.
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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0146; (P) 1.0201; (R1) 1.0271; More… Range trading continues in EUR/USD and intraday bias remains neutral. Further rise is in favor this week as long as 1.0118 minor support holds. Above 1.0277 minor resistance will target 1.0348 support turned resistance. Sustained break there will bring stronger rebound back to channel resistance (now […] The post EUR/USD Daily Outlook appeared first on Action Forex.
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GBP/USD Daily Outlook

Daily Pivots: (S1) 1.1929; (P) 1.1996; (R1) 1.2076; More… Intraday bias in GBP/USD remains neutral for the moment. On the upside, firm break of 1.2055 minor resistance will confirm short term bottoming at 1.1759. Bias will be turned back to the upside for 1.2405 resistance next. On the downside, break of 1.1759 will resume larger […] The post GBP/USD Daily Outlook appeared first on Action Forex.
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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9575; (P) 0.9640; (R1) 0.9679; More… Intraday bias in USD/CHF remains on the downside. Fall from 0.9884 is seen as a falling leg of the consolidation from 1.0063. Deeper decline would be seen to 0.9493 support. On the upside, though, above 0.9738 minor resistance will turn bias back to the upside for […] The post USD/CHF Daily Outlook appeared first on Action Forex.
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A technical overview of the major currency pairs as the new trading week begins

In this video, Greg Michalowski of Forexlive.com, takes a look at the major currency pair vs the USD as the new trading week begins (week of July 25, 2022). Get your week off on the right track. Plan your trade. Know your risk. This article was written by Greg Michalowski at www.forexlive.com.
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All Aboard the Foreign-Exchange Seesaw - WSJ

All Aboard the Foreign-Exchange Seesaw · The yen hits a new low against the dollar, as forex volatility rises. · What to Read Next ... ...