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Monday, November 20, 2017

CryptoCurrency News: Smart Dubai Office Bags Award for Blockchain Initiative



The Smart Dubai Office won an award for its blockchain initiative at the Smart Cities Expo and World Congress last week.

via CoinDesk

CryptoCurrency News: TGEs or ICBMs? Words Might Not Make a Difference for ICOs



The hottest industry term in cryptocurrnecy is proving a doubled-edged sword for the entrepreneurs seeking to enter the market.

via CoinDesk

[FOREX NEWS] EUR/USD shows its muscle: a full recovery from the fall


The worries about the failed German coalition talks sent EUR/USD some 50 pips lower. But this did not last. The pair is already back to 1.18, even exceeding the opening levels. This is more than a full recovery. When a currency doesn’t fall on bad news, its strength is exposed. This implies magnified gains when [...]

The post EUR/USD shows its muscle: a full recovery from the fall appeared first on Forex Crunch.



via Forex Crunch

CryptoCurrency News: Bitcoin Price Reaches New Record High Close to $8,100



As the cryptocurrency market in general continues to climb, bitcoin prices reached new heights close to $8,100 last night.

via CoinDesk

CryptoCurrency News: Survey: Institutional Traders Are Split on Bitcoin's Price, Wary of ICOs



A plurality of respondents to a new survey from brokerage firm Triad Securities said they believe bitcoin is in a bubble that's primed to crash.

via CoinDesk

Sunday, November 19, 2017

[FOREX NEWS] One Of The Biggest Opportunities Yet? GBPCHF Wave Analysis


Earlier this year I used Elliott Wave analysis to find my biggest opportunity to date. In USDCAD, I was able to pick the top from an entire year of consolidation and the ensuing move was over 1600 pips to the downside! Now, risking only 20 pips meant the potential on this trade was huge and one could’ve almost [...]

The post One Of The Biggest Opportunities Yet? GBPCHF Wave Analysis appeared first on Forex Crunch.



via Forex Crunch

[FOREX NEWS] EUR/USD falls with German coalition talks


German Chancellor Angela Merkel was unable to form a coalition. The talks between her own CDU party, the sister Bavarian CSU party, the Greens, and the FDP failed. A weekend full of negotiations was inconclusive. EUR/USD opened the week on lower ground, erasing some of the gains it had enjoyed in the previous week. The [...]

The post EUR/USD falls with German coalition talks appeared first on Forex Crunch.



via Forex Crunch

In Defense of CME's Bitcoin Futures Plan

William Mallers, Jr. started First American Discount Corporation with his father in 1984, eventually building it into the third-largest discount futures brokerage. He sold it in 2001 to Man Financial and then retired.

In this opinion piece, Mallers argues CME Group's plan to offer bitcoin futures will benefit the futures trading industry and the bitcoin community alike – notwithstanding hand-wringing in both worlds about the idea.


I'm a member of the Chicago Mercantile Exchange. I've also been a bitcoiner since 2013. So, when CME Group announced its intention to launch bitcoin futures in the coming weeks, I thought, "Great! Way to go, CME."

The first exchange to offer a futures contract on bitcoin is good news for my CME friends: more trading volume and and speculative opportunities. And it's also good for my bitcoin friends: the legitimacy and access is sure to help with adoption and higher bitcoin prices. Win-win! Right?

Well, that wasn't quite the response I got.

Instead I heard just about every negative stereotype about both futures trading and bitcoin, from both communities. Let's try to put these misperceptions to rest.

'Tulips' in 5,4,3...

First, there’s this from the futures industry’s most widely read blog, John Lothian News:

"The risk of bitcoin is in its history and the cloud surrounding its creation and early fraudulent days. Who is Satoshi? Where is he today? What happened at Mt. Gox? Is it still used to launder money? Why won't China let people trade bitcoin and what does this have to do with money laundering or capital controls?"

Good Lord. If you've been in enough arguments with bitcoin skeptics you know what's coming after the drug-dealing, money-laundering slam, right? Next up: the tulip-bulb analogy.

Sure enough, Lothian says, "I don’t want to be on the wrong side of history. But the history I am looking at is … 1636-37. That was the peak of tulipmania."

And that, my friends, is why I spent my first two years in bitcoin not sharing my passion with any non-bitcoiners. "Bitcoin? Never heard of it."

But because I have benefited from all the hard work that others have done to advance this project – hosting meetups, dispelling misinformation – and all I've done is log into my account and click "Buy," I thought I'd try to do my part.

A margin clerk's dream

Here's what I wrote to Lothian (a former employee at the futures brokerage I ran), and maybe it will help you with your bitcoin futures doubters:

"Hey John, it's Junior from your old FADC [First American Discount Corporation] days and I’ll be glad to help you understand bitcoin.

"But first – recall how you used to try to collect margin money by first asking the customer to provide a contact at his bank who could confirm that he had sufficient funds in his account and that he had initiated the wire. Why did we have you do that? Because we knew we wouldn’t get the money until the next day; his bank, while debiting his account immediately, would wait until the end of the day to wire us the money (unless he stopped the wire) and our bank wouldn’t credit us until mid-morning the next day, at the earliest.

"Now, imagine, instead of that 24-hour headache, your under-margined customer simply waved his cell phone at our FADC QR code and we got the money within 10 minutes, or at most a few hours. Bitcoin is a margin clerk's dream come true: near-instant peer-to-peer value transfer! It's easy to see why Jamie Dimon doesn’t like it, but a former margin clerk? You should be loving this technology and cheering for its adoption!

"I know having an asset protected by the computing power of a globally distributed network doesn't feel as secure as having armed guards protecting a bank vault, but if you get some time, there are websites that estimate the cost of amassing enough computing power to defraud the bitcoin network. This site estimates about $1 billion in electricity per day, plus over $1 billion in equipment, to counterfeit one transaction. In other words, it would be way cheaper for the Hunt brothers to corner today’s silver market than it would be for me to con an online retailer like Overstock into sending me free patio furniture. It's called a '51% attack' because I’d need to control a majority of the network hashing power to get a consensus mechanism to accept my phony accounting.

"Bernie Madoff-style cons are hard to pull off; I need years to earn my victims' trust, I have to get a reputable accounting firm to bless my forged statements, etc ... but Madoff's con was far easier than going undetected while amassing billions' worth of computing power. Plus, since new bitcoins are awarded to the miners proportionate to their computational contribution, if I did have that much computing power, I may as well amass bitcoins the honest way, right?

"That's one of the fun insights into this project: it manages to align all participants through economic incentive."


Overwhelming demand

When Terry Duffy, CME's CEO, says it's offering bitcoin futures in response to customer demand, I'm sure he’s right.

I know from writing brochures for commodity trading advisors that money managers want non-correlated assets. That's the only reason they own gold.

When the stock market tanks or a terrorist attack happens, that's when gold rallies. After 9/11, the stock market dropped over 7 percent, but gold spiked.

Bitcoin, like gold, is a perfect non-correlated asset to add to an investment portfolio. I am not surprised that there is such overwhelming demand for bitcoin futures from traders. Now, every trader is going to have the option to invest right there on their screen without having to do the onerous work of buying and securing bitcoin itself.

Risk controls

As for claims that CME futures trading will put the exchange at risk, they are overblown.

CME clearing privilege requires a large amount of capital. If a member's capital level drops below the threshold required to clear, the CME removes customer accounts and places them with a firm that has the capital to support them. Again, customers come first.

Stock index futures functioned as designed during the 1987 crash, grain futures likewise during the 1988 drought, currencies during the high volatility after the Plaza Accord. Consider this: prior to 1982, if you’d predicted where the most successful stock index contract would launch, you’d guess probably the New York Stock Exchange, right? But S&P 500 Index Futures launched at the Chicago exchanges next to the pork-belly pit, U.S. Treasury futures next to the soybean pit.

CME has done its homework on bitcoin; it's well aware of bitcoin's volatile price history and has the experience and controls in place to clear bitcoin futures.

Amazing, isn't it? The exchange that offers risk-management products should avoid bitcoin because it’s "risky?" Huh? I’ve never seen anything like bitcoin that inspires such lame arguments from its opponents.

This ain't Wall Street

Then, there's all the bitcoiners' FUD: "Here comes Wall Street to drive the price of bitcoin down, manipulate the market and ruin it for us!"

Suffice it to say, for many of the same reasons I gave above, I don’t believe that to be true.

Keep in mind that CME is not Wall Street. The Chicago exchanges have an ethos like bitcoin's: transparency, security, independence and accountability.

To all the people hand-wringing on both sides, let's just see how this plays out. I have decades of experience with the Chicago exchanges and feel reasonably certain that you all are wasting your breath and paying too much for full-page ads in print newspapers.

Let's get this thing to the moon!

Disclosure: CME Group is an investor in CoinDesk's parent company, Digital Currency Group.

Source: CoinDesk

Bitcoin's Price Breaks Above $8,100 to Hit New ATH

Bitcoin's price rose above $8,100 for the first time on Sunday.

Data from CoinDesk's Bitcoin Price Index (BPI) indicates that the price climbed to $8,101.91 between 20:00 and 20:15 UTC. This move came after bitcoin – which toed the $8,000 line during Friday trading – crossed that threshold several hours earlier.

That the price of bitcoin would surge above this height was in the cards last week, as was suggested by analysis at the time. Conversely, last week saw some dramatic movements on the price front, with markets dropping below $6,000 only to recover days later. Market commentary throughout the week was led, in part, by speculation around pending futures product launches and interest among institutional investors overall.

Indeed, the move confirms a possibility floated by analysts from investment bank Goldman Sachs earlier this month. The firm's analysts have published several forecasts since earlier this year, notably predicting some of the developments seen over the summer.

It's been bobbing up and down the $8k line for some time now. We have yet to see if a pull back will happen to gain a better momentum upward.
Source: CoinDesk

CryptoCurrency News: Even Investors with Access Want ICO Presale Reform



Many agree that the now-commonplace ICO presale to public sale process is too compressed and goes against the funding method's original intent.

via CoinDesk

CryptoCurrency News: The Gentrification of ICOs Is Underway



The ICO neighborhood, so to speak, is cleaning up, though University of Dublin's Paul Ennis suggests this may not exactly be a future to fear.

via CoinDesk

Saturday, November 18, 2017

LedgerX Bitcoin Option Pegs Price at $10,000 in One Year


LedgerX just initiated its first long-term bitcoin futures option.

Called a Long-Term Equity Anticipation Security (LEAPS), the trade was matched by the platform this morning and is set to expire on December 28, 2018.

Under the terms of the deal, the buyer has the right to buy bitcoin at a price of $10,000 at that date, or almost a 30 percent premium on today's price.

Yet, because the buyer only makes money if the price is more than $10,000 (called the strike price), the investment can be seen as a reflection of the level of confidence that the price will reach that level by the agreed upon date.

Such long term futures options have long been seen in the industry as a much needed sign of maturity, and could in part help pave the way for even more institutional money to enter the space.

In an exclusive interview with CoinDesk, LedgerX CEO Paul Chou sought to position the milestone as just the first of many more before the cryptocurrency market can truly be considered mature.

Chou said:
"There will be, I expect, a lot more trades down the line. This is the first one, but it at least gives you the first guess from different institutional traders as to what bitcoin's dynamics will look like from now until 2018."


The trade option was listed by LedgerX late Friday night, and to Chou's surprise, two institutional investors agreed to the terms of the deal just one day later.

Under the terms, the buyer agreed to a price of $2,250.25 for the trade, meaning the seller collects that money if the price is less that $10,000 by the end of next year, and the buyer gets to purchase bitcoin at the strike price if it is higher.

Unlike a futures swap however, the buyer is not obliged to purchase the asset.

"If the price goes to zero, you don't have to pay $10,000 for it," Chou said. "But if a year from now it's at $20,000, then you can exercise your options."

Based on LedgerX's own calculations (made using the Nobel-prize winning Black-Sholes financial markets model), the startup believes there is a 25 percent chance that bitcoin will reach that level in the allotted time.

Soft launch

While this is the first LEAPS financial instrument matched by New York-based LedgerX, they've been conducting increasingly high trade volumes since their soft launch a month ago.

As reported by CoinDesk, LedgerX traded $1 million in bitcoin derivatives its first week of trading, ending Oct. 20.

Since then, the first cryptocurrency firm to be granted a derivatives clearing organization (DCO) license by the CFTC has posted a $1 million day, a $1.6 million day and on November 15, a record $2.6 million day.

Since LedgerX listed the LEAPS option at 5:30 Friday evening, Chou says they saw an additional $500,000 traded before midnight. "That's for a holiday week too," he said. "So we were shocked." He estimates the company has conducted approximately $16 million in notional bitcoin transactions to date.

While the startups numbers seem to indicated active early interest, legacy institutions such as the Chicago Mercantile Exchange (CME Group) and the Chicago Board Options Exchange (CBOE) have both recently revealed their own similar plans.

Though Chou hopes to maintain his first-mover advantage, he said there's no hard date to launch into full operation. Rather, his team wants to make sure the platform scales well beyond the 1 million messages it sends per day before this milestone. He says he'd be "surprised if that takes "more than a month," concluding:

"But it might be sooner."

Source: CoinDesk

[FOREX TIP] AUDUSD Weekly Forex Forecast – 20th to 24th Nov 2017

 

AUDUSD Weekly Forex Forecast – 20th to 24th Nov 2017

The Aussie broke below the 0.7625 support level but was not able to post any significant rally above it. Only a daily close above 0.7625 can suggest that the current downside move is over and we can correct now the prevailing trend. We should quickly run into resistance level at 0.7730 from where a reaction lower should be expected. The stochastic indicator is already in oversold territory but this can also suggest that any rally is just another opportunity to sell with the trend. Now, the big round number 0.7500 should hold the downside but at the same time we can’t expect any significant rally either.

The Australian economic calendar has scheduled some risk events that can be the catalyst for some volatility. On Tuesday we have the RBA Meeting Minutes which can give traders further clues into the interest rates policy and what is the most appropriate time for the RBA to hike rates. Next, we have Governor Philip Lowe speech that can move AUDUSD exchange rate.

Previous AUDUSD Weekly Forex Forecast

AUDUSD Weekly Forex Forecast – 20th to 24th Nov 2017

The post AUDUSD Weekly Forex Forecast – 20th to 24th Nov 2017 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] GBPUSD Weekly Forex Forecast – 20th to 24th Nov 2017

 

GBPUSD Weekly Forex Forecast – 20th to 24th Nov 2017

The GBPUSD is trading in a very frustrating range between support level 1.3030 but, more importantly the big psychological level 1.3000 and resistance level 1.3350. As long as the price is contained between these two levels we should expect more of the same from the cable’s price action. The stochastic indicator is moving away from overbought territory but we still have room to continue upwards and retest the resistance level. Only a break and a daily close above 1.3350 can suggest that current correction is over. The base case scenario still suggests that GBP/USD is more prone to find a reaction lower from 1.3350 and possibly se again a retest of the big round number 1.3000.

The UK economic calendar will bring early in the week the Inflation Report Hearings scheduled on Monday. Next on the calendar we have the UK GDP figures for the Q3 which based on the market consensus we should expect a flat reading of 0.4%. The annualized GDP growth rate is expected to come flat at 1.5%.

Previous GBPUSD Weekly Forex Forecast

GBPUSD Weekly Forex Forecast – 20th to 24th Nov 2017

The post GBPUSD Weekly Forex Forecast – 20th to 24th Nov 2017 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] USDCHF Weekly Forex Forecast – 20th to 24th Nov 2017

USDCHF Weekly Forex Forecast – 20th to 24th Nov 2017

Technical Outlook: The USDCHF currency pair slipped back to the support level area of 0.9894 – 0.9861. The retracement back to this level indicates near term gains that could build up on a bullish momentum. Resistance at 1.0088 could be seen as the next target to the upside. However, the currency pair runs the risk of a break down near the current support level. In such a scenario, a close below the support level could see USDCHF slipping towards the next main level at 0.9741 which could be tested for support. To the upside, the gains are likely to be limited near 1.0088. However, with the Stochastics oscillator posting a bullish hidden divergence, we expect the bias to the upside.

Fundamental Outlook: Switzerland’s trade balance figures are the only economic release coming up this week. On the other hand, data from the U.S. is comparatively busier. Data includes the durable goods orders figures coming out on Wednesday. This is followed by the FOMC meeting minutes from the meeting held earlier in November. No surprises are expected as the Fed did not change rates in November while it continued with its balance sheet unwinding. Still, the release of the FOMC meeting minutes could bring some volatility to the U.S. dollar. The week concludes with Friday’s release of flash manufacturing and services PMI from Markit.

Previous USDCHF Weekly Forex Forecast

USDCHF Weekly Forex Forecast – 20th to 24th Nov 2017

The post USDCHF Weekly Forex Forecast – 20th to 24th Nov 2017 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] USDJPY Weekly Forex Forecast – 20th to 24th Nov 2017

USDJPY Weekly Forex Forecast – 20th to 24th Nov 2017

Technical Outlook: The USDJPY currency pair posted declines last week after price action continuously failed to break past the 114.50 level of resistance. The breakdown of the rising trend line saw the U.S. dollar slipping towards 113.00 support level. This support offered little help as USDJPY extended declines below this level. Further downside can be expected with 111.76 coming in as the next level of support. Any short term retracements ahead of the decline to 111.76 will likely see more sellers entering the market. The bias will only shift direction on a breakout above 113.00 which looks unlikely for now.

Fundamental Outlook: Economic data from Japan is quiet with the exception of the all industries activity and th flash manufacturing PMI due later in the week on Friday. The Japanese yen is unlikely to be moved much by the data this week leaving most of the heavy lifting to the technical aspect of things. Last week’s speeches from BoJ Governor Kuroda saw the central bank maintaining its commitment towards its QE program. This is expected to continue until inflation starts to show signs of progress. The lack of macroeconomic details could see the Japanese yen continue to trade flat as a result.

Previous USDJPY Weekly Forex Forecast

USDJPY Weekly Forex Forecast – 20th to 24th Nov 2017

The post USDJPY Weekly Forex Forecast – 20th to 24th Nov 2017 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] EURUSD Weekly Forex Forecast – 20th to 24th Nov 2017

EURUSD Weekly Forex Forecast – 20th to 24th Nov 2017

Technical Outlook: EURUSD posted strong gains last week as price action invalidated the bearish flag pattern and reversed losses. Breaking past the short term resistance level of 1.1691, EURUSD managed to quickly recover to reclaim the 1.1800 handle. The rally lasted as the currency pair briefly touched the main resistance level near 1.1850 before easing back promptly. We expect that in the near term, the consolidation will continue as EURUSD could be seen moving in a range within 1.1850 and 1.1700 levels. However, watch for the potential bullish flag pattern that could be validated when EURUSD breaks past the 1.1850 resistance level. This will put the currency pair on path to post further stronger gains.

Fundamental Outlook: The week ahead is relatively quiet as far as data from the Eurozone is concerned. We will get to see the flash manufacturing and services PMI which will offer a preliminary glimpse into the economy at an early stage. However, with economic activity in the Eurozone forecast to pickup momentum, we do not see any major deviations to both the manufacturing and the service PMI levels. Germany’s final GDP figures for the third quarter will be published and no major changes are expected. The German central bank will releasing its monthly report that could offer some insights into the economic activity in the region.

Previous EURUSD Weekly Forex Forecast

EURUSD Weekly Forex Forecast – 20th to 24th Nov 2017

The post EURUSD Weekly Forex Forecast – 20th to 24th Nov 2017 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] Weekly Forex News Events for EURUSD – 20th to 24th Nov 2017

EURUSD finished the week with strong Bullish tone. The next week will be an interesting week since some high impact news events are to take place. Let us have a look at those.

Monday-20th November 2017- GMT 15.00 and GMT 17.00

ECB President Draghi speaks

On the same day, ECB President Draghi would give his speech twice. One speech is to take place at GMT 15.00 and another one is at GMT17.00. It does not normally happen that he gives his speech twice on the same day. EURUSD traders should patiently wait for the second news hour to finish and find their trading opportunity.

Wednesday-22nd November-2017- GMT 00.00

Fed Chair Yellen speaks

Yellen is going to give a speech at GMT 00.00 on Wednesday. EURUSD pair is supposed to have volatility on that hour. Thus, traders might as well have a plan to use the volatility in their favour.

Wednesday-22nd November-2017- GMT 14.30

Core durable goods orders m/m

Unemployment claims

Two of these high impact news release are to take place at the same time. Unemployment Claims data is to shake the pair. Some great opportunities can be found once after this news hour.

Wednesday-22nd November-2017- GMT 16.30

Crude oil inventories

This news event could make the pair very volatile and produce opportunities on the major time frames. If it does not, then the intraday charts are going to have long spikes for this news event. Thus, EURUSD traders should be careful with their intraday positions.

Wednesday-22nd November-2017- GMT 20.00

FOMC meeting minute

This one is the biggest news event of the next week. Intraday traders should be careful before the volatility takes place and look for the opportunity on the major time frames once the newshour is finish.

The post Weekly Forex News Events for EURUSD – 20th to 24th Nov 2017 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

CryptoCurrency News: ICOs on Our Terms and Conditions



How to structure token sales that comply with securities laws open participation to a diverse range of purchasers and enhance value for all involved.

via CoinDesk

CryptoCurrency News: Millions Gone? Broker Takes Fire for Bitcoin Cash Trading Freeze



Bitcoin cash's big ups and downs have had market impacts far and wide, while showcasing the nascent nature of the crypto sector as a whole.

via CoinDesk

Friday, November 17, 2017

CryptoCurrency News: Gox ICO? CEO Karpeles Floats Token Sale to Revive Bitcoin Exchange



A Mt Gox initial coin offering (ICO)? It's not that much of a far-fetched idea, according to the defunct bitcoin exchange's controversial CEO.

via CoinDesk

CryptoCurrency News: UBS CIO: We Aren't Getting Involved With Bitcoin



UBS chief investment officer Mark Haefele says the world's largest money manager will not include bitcoin investments.

via CoinDesk

CryptoCurrency News: Ethereum Could Soon Launch Its First Casper Testnet



An experimental consensus algorithm that's long been proposed as a pillar of the ethereum protocol could soon see its first testing.

via CoinDesk

CryptoCurrency News: No Fork, No Fire: Segwit2x Nodes Stall Running Abandoned Bitcoin Code



The Segwit2x bitcoin fork may have been formally called off, but as many as 150 nodes still running its code have stopped accepting transaction blocks

via CoinDesk

CryptoCurrency News: Internet Archive Adds Bitcoin Cash, Zcash to Donation Options



The Internet Archive, host of the Wayback Machine, has announced it now supports donations in bitcoin cash and zcash.

via CoinDesk

CryptoCurrency News: ECB Council Member: Central Banks Considering Crypto Regulation



The European Central Bank's Ewald Nowotny has said that China's recent crackdown has brought new focus on cryptocurrency regulations.

via CoinDesk

CryptoCurrency News: Ripple Makes a Splash: XRP Price Looks Up on Amex News



Positive news flow for Ripple seems to be boosting price, while the technical analysis also favors the bulls.

via CoinDesk

CryptoCurrency News: Visa Launches First Phase of Blockchain B2B Payments



Credit card giant Visa has launched the trial phase of its business-to-business payments system built with blockchain startup Chain.

via CoinDesk

CryptoCurrency News: Up and Away? Bitcoin Price Eyes $8,000 Or Higher



Bitcoin has staged a remarkable "V" shaped recovery from the last week's lows near $5,500, and may be looking at new highs ahead.

via CoinDesk

CryptoCurrency News: Friends Don't Let Friends Do Bad Crypto



Our duty to users doesn't end when they leave our site or app. Behaviors learned from us guide interactions with other services, writes Dan Elitzer.

via CoinDesk

CryptoCurrency News: Over 20 Banks Join Singapore-Hong Kong Blockchain Trade Network



A number of banks have joined the recently announced blockchain-based trade network pilot jointly set up by Hong Kong and Singapore.

via CoinDesk

CryptoCurrency News: Just the Beginning? What the Tezos Lawsuits Mean for ICO Litigation



Class-action litigators in the U.S. appear to be positioning for a potential pop in the hot initial coin offering market.

via CoinDesk

[FOREX NEWS] USD/JPY could not go up – 4 reasons why it is falling


The US dollar is retreating and more so against the Japanese yen. This is an extension of the falls seen earlier in the week and they prove once again: what cannot go up must come down. The pair made a false break last week above the 114.50 level. We are now at 112.55 after hitting [...]

The post USD/JPY could not go up – 4 reasons why it is falling appeared first on Forex Crunch.



via Forex Crunch

[FOREX NEWS] Draghi hails the solid economic expansion – EUR/USD looks solid


The president of the European Central Bank is speaking for the second time this week. His previous public appearance alongside his top peers from the Fed, BOJ, and BOE. EUR/USD is trading around 1.18. more coming

The post Draghi hails the solid economic expansion – EUR/USD looks solid appeared first on Forex Crunch.



via Forex Crunch

CryptoCurrency News: Nasdaq Contemplates Storing Asset Ownership Data on Blockchain



Stock exchange operator Nasdaq filed a patent outlining how to store asset ownership data on a blockchain.

via CoinDesk

[FOREX NEWS] AUD: Breaking Out Of Ranges On Crosses; What’s Next & How To Position? – Nomura


The Australian dollar slipped a bit lower amid a not-so-great jobs report. What’s next? Here is the view from Nomura: Here is their view, courtesy of eFXnews: Nomura FX Strategy Research discuss AUD outlook, recommending to tactically positioning for further AUD downside against the EUR via an options structure expiring on Dec-21. “AUD continues to fall [...]

The post AUD: Breaking Out Of Ranges On Crosses; What’s Next & How To Position? – Nomura appeared first on Forex Crunch.



via Forex Crunch

Thursday, November 16, 2017

CryptoCurrency News: Swiss Firms to Let Traders Short Bitcoin With New Futures Products



Swiss bank Vontobel and Leonteq Securities announced that they will start trading Switzerland’s first two mini futures to short bitcoin on Friday.

via CoinDesk

CryptoCurrency News: Europe's Executive Arm Issues Report on Blockchain For Education



EU Commission has released a report titled 'Blockchain in Education' that explains on potentials of the nascent technology in the education industry.

via CoinDesk

CryptoCurrency News: Mimblewimble Just Launched Its First Testnet



An experimental blockchain boasting an innovative array of potential features is now entering a new phase of testing.

via CoinDesk

CryptoCurrency News: Coinbase Courts Hedge Funds With Institutional Storage Service



Cryptocurrency wallet and exchange startup Coinbase is launching a new storage service aimed specifically at institutional investors.

via CoinDesk

CryptoCurrency News: Dell Subsidiary Considers Blockchain Use in Data Transfers



In a new patent application, Dell subsidiary VMWare outlines how it could integrate a blockchain into a proposed cloud-based data transfer service.

via CoinDesk

CryptoCurrency News: Bitcoin Approaches All-Time High As Price Shrugs Sell-Off



The price of bitcoin is spiking, climbing above $7,700 for first time since Nov. 8.

via CoinDesk

CryptoCurrency News: Survey: Bitcoin Investors Won't Sell Until Price Nears $200k



New survey data highlights the ideological – and economic – factors driving some investors to purchase bitcoin.

via CoinDesk

CryptoCurrency News: $100 Bitcoin? Japan Post Bank's CIO Blasts 'Bubble' Value



Bitcoin's astonishing price rally this year continues to attract skeptics, including the CIO of Japan Post Bank.

via CoinDesk

CryptoCurrency News: YouTube Stars Can Now Earn Brave's Browser Tokens



The ad-blocking browser provides YouTubers with an alternative monetization strategy in a year of aggravation with the video site's ad-killing bots.

via CoinDesk

CryptoCurrency News: 'Is It Real?': Square CFO Speaks Out on Cash App Bitcoin Trial



The CFO of mobile payments firm Square has explained why the company launched a bitcoin pilot scheme.

via CoinDesk

CryptoCurrency News: Bitcoin Cash Dips to $1,000, But a Recovery May Be on the Cards



Bitcoin cash has lost 20 percent in the last 24 hours, but looks to have found a new bottom around $1,000.

via CoinDesk

CryptoCurrency News: American Express Opens First Blockchain Corridor With Ripple Tech



American Express just had its "Charles Lindbergh moment," using Ripple's blockchain to connect Santander clients in Europe and the U.S.

via CoinDesk

CryptoCurrency News: New Highs in Sight? Bitcoin Moves Back Above $7,500



Bitcoin is showing no signs of stopping its recent upwards surge. As prices climb once again, are new highs on the horizon?

via CoinDesk

[FOREX NEWS] USD/CAD falls on upbeat Canadian data, poor US figures


Canada’s manufacturing sales rose by 0.5%, beating expectations. Foreign securities purchases also came out better than expected at 16.81 billion. USD/CAD is falling to 1.2748. This is also due to the series of disappointments in US data. Everything is pushing USD/CAD lower. ADP routinely publishes its jobs report for the US, two days before the official [...]

The post USD/CAD falls on upbeat Canadian data, poor US figures appeared first on Forex Crunch.



via Forex Crunch

[FOREX NEWS] US jobless claims, Philly Fed, import prices all disappoint – USD ticks down


US weekly jobless claims are up to 249K, disappointing expectations. Import prices are only up by 0.2%, also short of predictions. Philly Fed Manufacturing Index completes the losing streak by falling to 22.7. The US dollar is slightly weaker on the uniform misses. The US released a load of economic indicators. The Philly Fed manufacturing index [...]

The post US jobless claims, Philly Fed, import prices all disappoint – USD ticks down appeared first on Forex Crunch.



via Forex Crunch

CryptoCurrency News: Kik Might Move Its ICO Tokens to a New Blockchain



A high-profile ICO project is re-evaluating whether it will stick with the ethereum network or shift to a more scalable and lower-cost solution.

via CoinDesk

CryptoCurrency News: Moldova Eyes Blockchain IDs to Help Curb Child Trafficking



Moldova is considering teaming with a U.N. blockchain identity project to help combat child trafficking in the country, according to a report.

via CoinDesk

CryptoCurrency News: Morgan Stanley CEO: Bitcoin Is 'By Definition Speculative'



Morgan Stanley Chairman and CEO James Gorman has added to recent criticism of bitcoin in new comments.

via CoinDesk

CryptoCurrency News: Lightning Only? Scaling Bitcoin Might Require A Whole 'Nother Layer



A new paper outlines an additional layer to the Lightning Network that would make payment channels even more scalable.

via CoinDesk

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