Tag Archives: metattrader MT4

BTC analysis for 02.25.2020 – The expected drop just started, watch for selling opportuniteis with main target at $9.000

Industry news:Financial regulators seem to be tightening the bolts on cryptocurrencies, considering crime and illegal activities the only worthy use-case for them.Globenewswire spread the word that two companies – NIGMA Conseil from France together with the AIT (Austrian Institute of Technology) – are teaming up to increase crypto and blockchain forensics. The latter is the biggest research and tech organization in Austria owned by the government.Technical anlaysis:BTC has been trading downwards. As I expected, the BTC tested the level of $9.346 and almost reached our yesterday’s target at $9.265. There is still potential for the downside movement and test of the downside targets and supports at $9.265, $9.053 and $8.890.I would watch for selling opportunities on the rallies using the intraday frames 15/30 minutes for better timing. The decline was caused due to fail test of the Pitchfork Median line and lack of buyers around $10.000Resistance levels are set at the price of $9.670 and $10.000Support levels and downward targets are set at the price of $9.265, $9.053 and $8.890.The material has been provided by InstaForex Company – www.instaforex.com…

*Germany Q4 Exports -0.2% On Quarter, Imports +1.3%

Germany Q4 Exports -0.2% On Quarter, Imports +1.3% The material has been provided by InstaForex Company – www.instaforex.com…

GBP/USD: plan for the European session on February 25. Buyers of the pound are counting on good news on trade negotiations

To open long positions on GBPUSD, you need:
On Monday morning, the British pound fell. However, the bulls quickly took control of the market, forming the lower border of the ascending channel already in the North American session, which I drew attention to in my review yesterday. While trading is above the intermediate support of 1.2933, which acts as the middle of the wide side channel of 1.2890-1.2980, we can expect the pound to return to the maximum of last week in the area of 1.2978 and its update, which will lead to a test of the area of 1.3020, where I recommend taking the profits. Without such a scenario, talking about the long-term advantage of buyers will not be entirely true, especially since the beginning of trade negotiations between the UK and the EU promises to be very problematic. If the bulls do not cope with this task, most likely, the pressure on the pound will return. So, it is best to open new long positions after forming a false breakdown in the support area of 1.2889 or immediately on a rebound from the minimum of 1.2851.
To open short positions on GBPUSD, you need:
The sellers of the pound will try to…

Dollar Mostly Subdued Against Rivals

The U.S. dollar retreated after displaying some strength earlier in the session on Monday, amid rising concerns about global growth after the coronavirus spread rapidly outside China. The dollar recovered after easing into the negative territory, but was still finding it tough to move up any significantly above the flat line. The dollar index, dropped to a low of 99.11 from around 99.60, and was last seen at 99.28, up slightly from previous close. Against the Euro, the dollar was down marginally at $1.0856, recovering from $1.0874. Earlier in the day, the dollar was up more than 0.4% at $1.0808. Germany’s business confidence improved in February, reports said citing survey data from the ifo institute. The business climate index rose to 96.1 in February from 96.0 in the previous month. The score was above the forecast of 95.3. The assessment of current situation weakened from last month, while expectations improved in February. The current conditions index came in at 98.9 in February versus consensus of 98.6. At the same time, the expectations index rose to 93.4 compared to economists’ forecast of 92.1. Against British Pound Sterling, the dollar strengthened to $1.2928, gaining more than 0.2%. The Japanese Yen gained…

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Oil Ends Sharply Lower On Virus Jitters

Crude oil prices plunged sharply on Monday amid rising concerns about the outlook for energy demand due to the rapidly spreading coronavirus outside China. According to reports, the number of new cases of coronavirus infection is rising in South Korea, Iran, Afghanistan and Italy. A report from Reuters, quoted Saudi Aramco CEO Amin Nasser as saying the coronavirus impact will be “short term”. This probably pulled oil prices from the day’s lows. West Texas Intermediate Crude oil futures for April ended down $1.95, or about 3.7%, at $51.43 a barrel, after falling to a low of $50.45 in the session. Brent Crude futures declined $2.20, or about 3.8%, to $56.30 a barrel. On Friday, WTI Crude oil futures for April ended down $0.50, or about 0.9%, at $53.38 a barrel. South Korea has raised its coronavirus alert to the “highest level” for the first time in a decade, following a rapid spike in cases over the weekend. Reports say the total number of cases so far in South Korea has risen to 763. Italy became Europe’s epicenter for coronavirus cases over the weekend. Iran has confirmed an uptick in infections. Italian bank Intesa Sanpaolo has reportedly decided to…

USDJPY reverses off our 2nd target

In a previous post we noted the bullish flag pattern in USDJPY and the two possible targets. Price almost touched the second target area and is now pulling back towards the break out area. This is most probably a back test of the breakout area, rather than a failed break out.Blue line -long-term resistance trend lineGreen line – support trend lineRed horizontal Fibonacci expansions = targetsUSDJPY managed to reach 112.22, but prices reversed as risk off took over due to the coronavirus threat spreading into risky assets. Price has fulfilled its upside target and we are now seeing an important back test.Blue line – resistanceGreen line – supportGreen rectangle – horizontal supportUSDJPY has reached the previous highs and once resistance area at 110.30. Bouncing off this area would be a bullish sign. Inability to hold above 110.30 would be a very bearish sign. Major long-term support is at 108.30. Bulls need to hold above this level no matter what.The material has been provided by InstaForex Company – www.instaforex.com…