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Tether Dominating the StablecoinsTether's stablecoin USDT was introduced to improve the liquidity of the early Bitcoin market. The project has faced various legal controversies revolving around the legitimacy of its 1:1 USD backing. Despite these obstacles, the stablecoin has dominated one of the fastest growing sector's in crypto. Tether is by far the most popular and most liquid stablecoin and will see volatile moves for day trading. BREAKOUT INDICATOR SHOWING A LONG REVERSAL FOR DAY TRADING.
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by CeoCodes
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ECONOMIC RESTART ****USD/CAD extends the rebound from the monthly low (1.3855) as the Bank of Canada (BoC) announces new measures to cushion the Canadian economy, and the exchange rate may continue to retrace the decline from the yearly high (1.4667) as it breaks out of the downward trending channel carried over from the previous month. USD/CAD LEVELS TO WATCH FOLLOWING NEW BOC BOND PURCHASE PROGRAMS USD/CAD climbs to a fresh weekly high (1.4132) as the BoC unveils a “new Provincial Bond Purchase Program of up to $50 billion, to supplement its Provincial Money Market Purchase Program,” with the central bank also announcing a “Corporate Bond Purchase Program, in which the Bank will acquire up to a total of $10 billion in investment-grade corporate bonds in the secondary market.”
Short
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Bitcoin Hits $7K Bitcoin users had already widely panned the plans, which many see as a further move towards government economic meddling that some suggest facilitated the coronavirus crisis to begin with. “The Rubicon has been crossed. Even surprises me and I have been a strong advocate for extreme policy response, ‘unlimited,’ in the face of economic collapse,” Gold Bullion International co-founder Dan Taperio tweeted on Thursday, adding: “Soon will be difficult to value money. If so, all society's values realign. Expect volatility
COINBASE:BTCUSDLong
by CeoCodes
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GBP/USD to rally beyond 1.2650The GBP/USD pair is trading near its daily low, bullish in the short-term, after spending most of the day above a critical Fibonacci level at 1.2515. In the 4-hour chart, the 20 SMA advances above the larger ones, all fo the below the current level, while the RSI keeps advancing, despite being in overbought levels. The bullish case should remain firm in place as long as the pair holds above the mentioned Fibonacci level, the 61.8% retracement of its March slump. Support levels: 1.2600 1.2660 1.2515 Resistance levels: 1.2650 1.2690 1.2730
Long
by CeoCodes
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OIL PRICES FELL .. OPEC Oil prices fell on Monday as oversupply concerns continue to pressure prices, even as OPEC and its allies agreeing to cut production by 9.7 million barrels per day. The deal, which was finalized on Sunday after marathon discussions that spanned four days, is the single largest output cut in history. U.S. West Texas Intermediate crude fell 1.54% to settle at $22.41 per barrel, while international benchmark Brent crude rose 33 cents to $31.81 per barrel. Earlier in the session WTI had been up as much as 8%. The group, known as OPEC+, initially proposed cutting production by 10 million bpd — amounting to some 10% of global oil supply — on Thursday, but Mexico opposed the amount it was being asked to cut, holding up the final deal. Under the new agreement, Mexico will cut 100,000 bpd, instead of its initial allocation of 400,000 bpd.
OANDA:WTICOUSDShort
by CeoCodes
Trade Brent Crude Oil Spot CFDIn regard to the price of Brent crude oil, the commodity has seen some dramatic peaks and troughs throughout its history. At the start of 1999, it stood as low as $10 a barrel. During the following years, it had climbed steadily until it reached its all-time high of over $147 a barrel in mid-2008. However, in the second half of the same year, the price suddenly slumped to under $40 a barrel. Over the following decade, the commodity has witnessed many ups and downs, characterised by multiple price fluctuations from as low as $27.88 to as high as $128.14 a barrel. To discover the latest Brent crude oil spot price and trace the historical value of the commodity over the years, follow Capital.com’s Brent crude oil live chart.
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by CeoCodes
Trade US Natural Gas Spot CFDDiscover US Natural Gas price in real-time with our live chart Natural gas is a vital fuel, it currently supplies 22 per cent of the world's energy. Widely used for both commercial and industrial purposes, it is often chosen as an investment option by international investors seeking true asset class diversification in their portfolio. According to the historical natural gas price chart, the commodity reached a record low of $1.04 in January 1992 and a record high of $15.78 in December 2005. You can stay on top of the latest natural gas price with Capital.com. Today, natural gas is considered one of the cleanest and safest fossil fuels available. It’s certainly a much more environmentally-friendly option than coal or petroleum. In the age of environmentalism, these unique properties of the commodity make it a popular energy choice. Consequently, investment in natural gas has increased in recent years. Natural gas is used across the globe as an effective and inexpensive fuel for a variety of applications, from heating to cooking and in the generation of electricity. Every year, the world’s largest countries extract billions of cubic metres of the commodity. Since the 2008 shale boom the United States has dominated the market as the world’s largest producer of natural gas. Today, the country operates over 900 public gas systems. Other major producers include Iran, Canada, Qatar, China and Russia, which supplies gas to Germany and the majority of Eastern Europe. Natural gas is unique among commodities as its supply often does not meet the demand. Known as “seasonal mismatch,” demand is the highest and typically exceeds supply during the winter, while in summer months, demand is lower than the available supply. Even small changes in the demand or supply of natural gas can cause significant price fluctuations. The price highly depends on the production process, weather conditions, economic growth, storage supplies and substitutes, such as hydroelectric, wind and solar power. Discover the latest natural gas price today and trace the historical value of the commodity over the years with Capital.com’s natural gas chart.
OANDA:NATGASUSD
by CeoCodes
Trade Silver Spot CFDSilver technical analysis over the medium-term shows that a large bullish pattern is still valid, despite the recent breakout down move towards the $16.40 level. The daily time frame clearly shows a large, and crucially valid, inverted head and shoulders pattern with over $5.00 of upside potential. As long as the $14.00 level is defended the bullish structure of the pattern remains valid. A rally towards the $21.00 level would confirm an up move over the medium-term towards the $28.00 Silver short-term price trend Silver price analysis over the short term shows that bears are in control while price continues to trade above the $17.70 technical level. The lower time frames currently show that last week's drop invalidated a bullish reversal that had been forming over the last few months.
OANDA:XAGUSD
by CeoCodes
Gold futures are screaming higher this morning as demand is surgThis was the initial reason for gold to move back to its flight to safety status. Over the last 3 days, spot market gold is from a low of 1455.4 to a high of 1627.7, an increase of 11.8% from low to high. Yesterday, we posted this chart and noted resistance at 1547.75, 1632 and the year highs near 1702 as resistance. Price has held 1632, for now. Support is at the psychological area near 1600, then yesterday’s nights near 1561. The front month gold futures contract has been even more volatile than in the sport market over the last 3 days, trading from a low of 1484.6 to a high of 1698, or 14.4%. The futures markets have to take time and interest rates into account when trying to determine a fair value for the contract, therefore futures markets usually trade at a higher price than spot. Notice how price took out the resistance at 1632.4 and is trading need the years highs of 1704. We can look at the previous horizontal resistance at 1632.4 as the first support level.
OANDA:XAUUSD
by CeoCodes
EUR/USD pressured around 1.08 as dollar attempts recoveryThe EUR/USD pair has retreated from the mentioned high and is currently trading below the 23.6% retracement of its latest daily slump at 1.0840. The 4-hour chart shows that the price remains above a mild-bearish 20 SMA, although well below the 100 and 200 SMA. Technical indicators, in the meantime, remain within positive levels but losing bullish strength. Given the upbeat sentiment, chances of a downward move are limited. 1.0800 is the immediate support while bulls make give it another try on an extension beyond the mentioned daily high. Support levels: 1.0725 1.0690 1.0650 Resistance levels: 1.0840 1.0885 1.0920
by CeoCodes
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Euro Currency Index .. WHAT NEXT?In general, a rising Euro Currency Index reflects the tendency of falling prices in agricultural commodity markets. On the other hand a falling Euro Currency Index reflects rising prices in agricultural commodity markets.The Euro exchange rates which are forming that index are calculated based on Euro weighted averages against 20 major Eurozone trading partners. The effective exchange rate of the euro is measured by the ECB (European Central Bank). The base period for the Euro Effective Exchange Rate Index is the first quarter of 1999.
TVC:EXY
by CeoCodes
DXY Next target emerges at the 97.80After bottoming out in the 96.60 area on Monday, DXY has embarked in a corrective upside to the current vicinity of 97.00. This area of resistance is also reinforced by the resistance line off the 2019 low just above the 95.00 marks. If buyers manage to extend the current momentum, then the next key level to consider will be the 200-day SMA at 97.79. In the meantime, as long as the 200-day SMA in the 97.80 zones continues to cap the upside, the bearish stance on the buck should stay unaltered.
TVC:DXY
by CeoCodes
BTC/USD Forecast PollBitcoin has bounced strongly this week after the massive selloff but there is plenty of supply to flood the market with, waiting for a rebound, which is due to move BTC to the $7K level. But the 30-and 90-day forecast is far from bullish, as, currently, BTC moves in a descending channel. Expecting price to do a slight buy then go lower until 4838.42. 1 Month: Expecting price to push higher to 11215.38. 1 Quater: Expecting price to do a slight buy then go lower until 1235.83.
BITSTAMP:BTCUSD
by CeoCodes
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IOTA USD price forecast IOTA USD is today's traded at a price 0.15 USD - in the Europe/London timezone. IOTA USD price forecast for the next period. Price change over the last 24 hours is (-13.81%), which is exactly -0.02 $. Today's trading day the IOTA USD price starts on the level 0.17 $, with the highest price today 0.18 $ and the lowest price reached 0.14 $ level. If we look at the overall development of the price over the last few months, the lowest price was at 0.08 $ and reached the highest levels at 0.56 $. We can see that the price of IOTA USD has fluctuated in the last period about 0.08 - 0.56 $ levels.
BITFINEX:IOTUSD
by CeoCodes