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EURJPY UPSIDE TRACTION OVERPOWERS BEARS, EYES 124.00 LEVEL

 

EURJPY Price Analysis – October 16

EURJPY is accelerating from a low of around 123.00 as upside potential prevails over sellers for another session on Friday. The cross has so far managed to hold above the 123.00 level. Given the uncertainty, it would be a mistake to set an end date for the response to the pandemic, European Central Bank (ECB) governing board member said on Friday.

Key Levels
Resistance Levels: 127.07, 126.46, 125.00
Support Levels: 123.00, 122.37, 119.31
EURJPY-Daily-Oct-16.pngEURJPY Long term Trend: Ranging
As noted on the daily chart, if selling momentum picks up additional pace, then the pair is expected to continue to the next relevant area around 123.00, where it sits low in October. Further south, there is critical horizontal support just above the 122.37 level.

While the RSI recovery from the near oversold area suggests a further recovery in the pair, a clear break of the 124.00 marks becomes necessary for the EURJPY bulls ahead of the 124.43 level and the weekly high near the 125.00 level.
EURJPY-4-Hour-Oct-16.pngEURJPY Short term Trend: Bearish
EURJPY intraday bias remains bearish, with 38.2% retracement from 114.39 to 127.07 at 122.37. A solid break there would confirm a resumption of the entire corrective fall from 127.07 and aim a 61.8% correction at 119.25, close to the pivotal support at 119.31.

On the other hand, however, a break of the 125.00 level will bring the upward trend back to retest the 127.07 level. Conversely, a clear dip below the 123.00 level could plummet towards the 120.00 psychological magnets.

 

Source: https://learn2.trade 

                 

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ETHEREUM (ETH) PRICE ANALYSIS: ETH FACES REJECTION AT $420, FLUCTUATES BETWEEN LEVELS $400 AND $420

Key Highlights
Ethereum battles resistance at level $420 high
The coin is likely to reach another high of $434

Ethereum (ETH) Current Statistics
The current price: $415.57
Market Capitalization: $47,020,287,242
Trading Volume: $12,506,980,622
Major supply zones: $280, $320, $360
Major demand zones: $160, $140, $100

Ethereum (ETH) Price Analysis October 25, 2020
Following the breaking of the $395 overhead resistance, Ethereum resumed upside momentum. However, the coin rallied to a high of $420 and was resisted. Since October 22, the upward move has been resisted as the coin resumed a sideways trend below the resistance. On the upside, if the price breaks the current resistance, the coin will resume the uptrend. However, Ether will face another resistance at $440. The coin will rally to $480 if the current resistance is broken.

ETH-Learn2trade-6.png ETH/USD – Daily Chart

ETH Technical Indicators Reading
The 21-day and 50-day SMAs are sloping upward indicating the uptrend. Ether has risen to level 65 of the Relative Strength Index period 14. It indicates that the market is in the bullish trend zone. The coin is approaching the resistance line of the ascending channel. A break above it will push the coin upward.

ETH-Learn2trade-2-chart-5.png ETH/USD – Daily Chart

Conclusion
Ethereum will rise after breaking the resistance at $420. The Fibonacci tool analysis has indicated an upward move to level 1.618 Fibonacci extensions. The market will reach another high of $434.55.

Source: https://learn2.trade 

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BITCOIN PRICE ANALYSIS: COULD CBDCS BE THE END OF BITCOIN?

Ever since Facebook publicized its plans to develop a digital currency called Libra, central banks across the globe have tried to counter it with their cryptocurrency. While Facebook’s Libra has come under heavy scrutiny and regulatory obstacles, more than 80% of the world’s central banks are working assiduously to develop a central bank digital currency (CBDC).

Meanwhile, the foundational basis of a CBDC is fundamentally disparate to what Bitcoin (BTC) is about. That said, the cryptocurrency community has begun speculating what the effect of a government-issued digital currency would have on the benchmark cryptocurrency.

Below are some of the possible outcomes of CBDCs on Bitcoin:

Plot A

The common expectation is that CBDCs will be bad for Bitcoin and the crypto industry at large, considering that world governments will place their weight behind CBDCs giving it a higher adoption rate compared to BTC.

Plot B

The next popular opinion is that CBDCs could give Bitcoin better widespread use and adoption, as it could spark heightened interest in digital currencies.

Plot C

Assuming that Plot A comes into fruition, there would be no use for Bitcoin as a peer-to-peer payment system. However, this doesn’t mean BTC becomes useless, instead, it becomes an excellent store of value.

download-7-1.png BTCUSD -4-Hour Chart

Key BTC Levels to Watch in the Near-Term

Bitcoin, against popular belief, doesn’t seem to be slowing down any time soon. The cryptocurrency just recorded a new YTD high at $13,357 in the past 24 hours. BTC has been trading within a consolidation range between $13,300 and $12,895 for the past four days, as traders expect a fresh bull wave.

That said, as long as Bitcoin maintains its stance above the $12,895 support, we could see a fresh bull wave in the coming days. A sustained fall below the aforementioned support could trigger an extended retracement for the cryptocurrency.

Total market capital: $395.4 billion

Bitcoin market capital: $241 billion

Bitcoin dominance: 61%

Source: https://learn2.trade 

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EURUSD RISKS DEEPER DECLINE AT 1.1800 LEVEL ON SURGE IN EUROPE COVID-19 CASES

EURUSD Price Analysis – October 26

Growing fears of a surge in Europe Covid-19 cases may slowdown economic recovery as new infections trigger stricter measures and prompt investors into safety. EURUSD risks a deeper decline at the 1.1800 level as buyers repeatedly failed to make a sustained break above the daily cloud top around the 1.1850 level.

Key Levels
Resistance Levels: 1.2150, 1.2011, 1.1917
Support Levels: 1.1807, 1.1612, 1.1422
EURUSD-Daily-Oct-26.pngEURUSD Long-term Trend: Ranging
EURUSD is under pressure, trading near the 1.1810 level, and is in danger of further falling. The EURUSD rally appears to have hit a decent barrier at recent highs around 1.1880. A break of this area is expected to push the pair higher towards the 1.1917 area as the bullish trend is expected to resume at the key level.

In a broader context, the rise from 1.0635 is seen as the third phase of the pattern from 1.0339 (low). A further rally towards the cluster resistance at 1.2011 can be seen. This will remain a preferable case as long as the resistance at 1.1422 is held and turned into support.
EURUSD-4-Hour-Oct-26.pngEURUSD Short-term Trend: Ranging
EURUSD intraday trend stays neutral as consolidation from 1.1880 regions continues. Nevertheless, further growth stays in favor while maintaining the support level of 1.1685. The break into 1.1880 regions will be a test at the 1.2011 high. The 4 hours chart shows that the pair is developing below the moderately bearish 5 and 13 moving averages.

A move below 1.1800 is needed to mark an immediate (minor) high for a pullback to the bottom of the short-term channel seen at 1.1725. On the other hand, a breakout of 1.1685 is likely to extend the corrective pattern from 1.2011 by one more phase. Intraday bias will return to the downside towards 1.1612 and below.

Source: https://learn2.trade 

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EUR/CHF IS IN AN UPTREND, MAY REACH LEVEL 1.0730

Key Resistance Levels: 1.0800, 1.0900, 1.1000
Key Support Levels: 1.0600, 1.0500, 1.0400

EUR/CHF Price Long-term Trend: Ranging
EUR/CHF has been on a downward move since September 25. On October 15 downtrend; a retraced candle body tested 78.6 % Fibonacci retracement level. This indicates that the pair will fall and reach a low of 1.272 and later reverse.

EURCHF-Learntrade.png EUR/CHF – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 41 of the Relative Strength Index period 14. It implies that the market is in a downtrend and below the centerline 50. The 50-day SMA and 21-day SMA are sloping horizontally. It indicates the sideways trend.

EUR/CHF Medium-term Trend: Bullish
On the 4-hour chart, the pair is also rising. On October 20, a retraced candle body tested 50 Fibonacci retracement level. This also indicates that the pair will rise and reach level 2.0 Fibonacci extension. That is the low level of 1.0730.

EURCHF-Learn2trade-3.png EUR/CHF – 30 Min Chart

4  Hour Chart Indicator Reading

The 50-day and 21-day SMAs are sloping sideways indicating the previous trend. The pair is below the 30% range of the daily stochastic. It indicates that the market is in a bearish momentum.

General Outlook for EUR/CHF
EUR/CHF is rising after breaking the initial resistance. The price rebounded at level 1.0714 to resume the upward move. According to the Fibonacci tool, the market will reach level of 1.0730.

 

Source: https://learn2.trade 

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WILL THE 2020 UNITED STATES PRESIDENTIAL ELECTION UPHEAVE THE MARKETS?

The 2020 United States presidential election is here and traders are expecting high volatility in the markets.

My Take
Nothing unusual and nothing extraordinary will happen in the markets. The markets don’t surprise people when they’re looking out for such; surprises come only when people don’t expect them.

istockphoto-168523680-170667a.jpg An informational traffic sign post indicating a financial market business concept – a clipping path is included to separate sign from bkg. Canon 5D MarkII and composition in Photoshop.


Let’s use an example of an eye that has seen the ocean and the sea. When that same eye observes a pool of water in the bathroom, it would be as though it has seen nothing; when compared to the ocean and the sea. The effects of the election on the markets might turn out to be a pool in the bathroom.

I forecast that the elections might bring a measure of volatility, but the volatility would pale into insignificance when compared to what happened as recent as March 2020. Those March events caught the world by surprise.

There are many examples like that. So elections are being held in the US, and you’re expecting something extraordinary? Sorry, the market has a knack for going against the expectations of the public. Because you expect storms in the markets; the storms won’t be as extraordinary as you currently imagine.

 

We may see a continuation in the current market directions or spikes in opposite directions, followed by trend continuations. It may even be complete and sustained changes in trends. But whatever happens, it is not going to be anything new or unusual.

istockphoto-1154438278-170667a.jpg American flag waving with the Capitol Hill in the background

What I Will Do

That is why I hold some positions. If things go against me, I can’t lose more than say, 1.5% per trade (perhaps huge slippage and spreads factored in). In case things move in my favor, then I would be grateful for whatever the markets give me. After all, my rewards are always higher than the risk.

 

What can you do if you disagree with this post?

The answer is simple. Stay out of the markets. But you will realize later that there is no big deal after all.

Source: https://learn2.trade 

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LITECOIN (LTC) IS LIKELY TO SINK BELOW $51 AS BULLS AND BEARS TUSSLE FOR PRICE POSSESSION

Key Highlights
Litecoin plunges to $51 low and corrected upward
LTC risks further downward move as price reaches overbought region

Litecoin (LTC) Current Statistics
The current price: $52.49
Market Capitalization: $3,453,939,467
Trading Volume: $2,849,880,504
Major supply zones: $70, $80, $90
Major demand zones: $50, $30, $10

Litecoin (LTC) Price Analysis November 3, 2020
Litecoin has been on a downward move. Today, the bearish impulse reached a low of $51 and corrected upward. Presently, it is facing another rejection at the $53 high. There is a likelihood of a further downward move.

On the downside, if price retraces and breaks below the $51 support, the market will drop to $46 or $47 support. The coin will resume an uptrend if the price finds support above $51. The $51 support is where the coin resumes upside momentum.

LTC-coinidol.png LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
The coin is below the 60% range of the daily stochastic. It indicates that it is in the bearish momentum. The selling pressure of the coin will persist once the price breaks below the SMAs. The coin is at level 50 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand.

LTC-coinidol-2chart.png LTC/USD – Daily Chart

Conclusion
Litecoin is likely to further decline as price retests the $56 high. On October 30 downtrend; a retraced candle body tested the 61.8% Fibonacci Retracement level. This indicates that the market will further depreciate to level 1.618 Fibonacci extensions or $47 low.

Source: https://learn2.trade 

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ETHEREUM (ETH) PRICE ANALYSIS: ETHER HOVERS ABOVE $450 SUPPORT FOR A POSSIBLE UPTREND CONTINUATION

Key Highlights
Ether fluctuates above $450 support
The coin has a target price of $488 high

Ethereum (ETH) Current Statistics
The current price: $458.89
Market Capitalization: $52,029,363,330
Trading Volume: $14,108,917,588
Major supply zones: $280, $320, $360
Major demand zones: $160, $140, $100

Ethereum (ETH) Price Analysis November 11, 2020
On November 10, the altcoin rebounded but could not break the $470 resistance. The upward move was repelled as price retraced to the $455 low. The upside momentum will always resume as long as price finds support above $450 support.

Presently, the coin is trading at $462 at the time of writing. On the upside, a strong bounce above $460 will propel price to break the $470 resistance. Ether will rally above $488 once the $470 resistance is breached. The upside momentum will be invalidated if the bears break the $450 and the $430 support level.

ETH-Learn2trade-4.png ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ethereum is trading above the resistance line of the ascending channel. The biggest altcoin will continue to trend higher as long as price is sustained above the resistance line. The coin will resume a downward move if the price breaks below the resistance line.

ETH-Learn2trade-2-chart.png ETH/USD – 4 Hour Chart

Conclusion
Ethereum bulls are close to breaking the resistance at $470. Once the resistance is broken the Fibonacci tool analysis will hold. When the coin was resisted on November 7 uptrend, the retraced candle body tested the 50% Fibonacci retracement level. This explains that the coin is likely to move up to level 2.0 Fibonacci extension which is $539.17 high.

Source: https://learn2.trade 

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ANALYST BELIEVES BITCOIN IS WORKING ACCORDING TO PLAN AHEAD OF SIX-DIGIT PROJECTION

The creator of the popular stock-to-flow model, PlanB, has affirmed that Bitcoin (BTC) is going according to plan like “clockwork, “ following its third halving event. PlanB, an anonymous developer, has lauded the S2FX model and believes that BTC will be trading between $100,000 and $288,000 by the end of 2021.

The stock-to-flow model and other existing variations are some of the most used BTC prediction tools within the cryptocurrency community.

The first version of S2FX, known as the original stock-to-flow ratio, outlined the stock of existing reserves and the flow (the annual supply of BTC in the market). The ensuing version provided more complex and comprehensive Bitcoin information. Apart from stock and flow, it also showed the different phases BTC has passed through since its creation in 2009. These phases include proof-of-concept, the payment phase, e-gold, and financial assets.

The Bitcoin halving, which occurs automatically every four years, is arguably the most crucial part of the models because it cuts BTC supply in half, which decreases the flow. That said, PlanB and S2FX supporters monitor Bitcoin’s price performance assiduously after every halving.

The analyst asserted that the benchmark cryptocurrency is moving like clockwork since its third halving in May. already, Bitcoin is showing some similarities with the price dynamics in 2012.

download-35.png BTCUSD – 4-Hour Chart

Key BTC Levels to Watch in the Near-Term — November 11

Bitcoin remains on a strong bullish trajectory, despite many projections that bullish steam might be running out. The cryptocurrency has renewed its 2020 high, after hitting $16,000 just a few hours ago. This is a good sign that the bullish momentum is still intact. That said, we could see BTC hit the $16,500 – $17,000 area soon.

However, we could see a mild pullback towards the mid-$15,000 in the coming hours.

Total market capital: $453 billion

Bitcoin market capital: $291 billion

Bitcoin dominance: 64%

Source: https://learn2.trade 

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EURJPY BEARISH MOMENTUM REMAINS TOWARD 123.00 LEVEL

EURJPY Price Analysis – November 20

The EURJPY pair is attempting to close beneath the 123.37 price zone as speculative interest stays trapped between coronavirus outbreaks and vaccine hopes. The pairs selling momentum remains toward the 123.00 level.

Key Levels
Resistance Levels: 127.07, 125.00, 123.37
Support Levels: 122.37, 121.61, 119.31
EURJPY-Daily-Nov-20.pngEURJPY Long term Trend: Ranging
As seen in the daily time frame, the downside pressure is expected to accelerate if EURJPY breaks below the 123.00 support, exposing the ascending trendline support and the 122.37 low. Meanwhile, the moving average 5 and 13 stays mixed for a range in the coming sessions.

If the 123.00 support holds, a surge towards the 123.40 level could be expected during the following trading session. However, a barrier around the MA 13 could serve as a limitation for bullish traders within this session. Lower here a firm breach of 119.31 level will argue that the rise from 114.42 level has completed and turned the focus back lower.
EURJPY-4-Hour-Nov-20.pngEURJPY Short term Trend: Ranging
The intraday bias in EURJPY is staying in consolidation with the current recovery. A much more decline is mildly in consideration with 123.37 minor resistance level intact. Beneath the 122.37 level will target a test on the 121.61 low level initially.

The resolute breach there may restart the trend from 127.07 level with another decline to 119.31 key support level. On the upside, though, a breach of 123.37 minor resistance level may shift sentiment back to the upside for the 125.00 level instead.

Source: https://learn2.trade 

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USD/JPY IS REACHING BEARISH EXHAUSTION, MAY REVERSE AT LEVEL 103.23

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Bearish
The USD/JPY pair has been in a downward move since November 12 after a rebound above level 103.30. The pair is approaching the previous support at level 103.30. The selling pressure will resume if the current is broken. The Yen will resume an upward move if the support holds.

USDJPY-Learn2trade-6.png USD/JPY – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend. The pair has fallen to level 40 of the Relative Strength Index period 14. The pair is in the downtrend zone and capable of falling.

USD/JPY Medium-term Trend: Bearish
On the 4-hour chart, the pair has been in a downward move after rejection at 105.00. On November 18 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. This indicates that the market will fall to level 1.272 Fibonacci extensions. That is the Yen will reach the low of level 103.23 and reverse.

USDJPY-Learn2trade-2-chart-4.png USD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The USD/JPY pair is currently above the 25% range of the daily stochastic. It indicates that the pair is in a bullish momentum. The SMAs are sloping downward indicating the downtrend.

General Outlook for USD/JPY
USD/JPY has been on a downward move but the selling pressure is reaching bearish exhaustion. According to the Fibonacci tool analysis, the Yen will fall and reverse at level 103.23.

Source: https://learn2.trade 

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    • USD/JPY IS REACHING BEARISH EXHAUSTION, MAY REVERSE AT LEVEL 103.23 Key Resistance Levels: 111.000, 112.000, 113.000 Key Support Levels: 104.000, 103.000, 102.000 USD/JPY Price Long-term Trend: Bearish The USD/JPY pair has been in a downward move since November 12 after a rebound above level 103.30. The pair is approaching the previous support at level 103.30. The selling pressure will resume if the current is broken. The Yen will resume an upward move if the support holds. USD/JPY – Daily Chart Daily Chart Indicators Reading: The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend. The pair has fallen to level 40 of the Relative Strength Index period 14. The pair is in the downtrend zone and capable of falling. USD/JPY Medium-term Trend: Bearish On the 4-hour chart, the pair has been in a downward move after rejection at 105.00. On November 18 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. This indicates that the market will fall to level 1.272 Fibonacci extensions. That is the Yen will reach the low of level 103.23 and reverse. USD/JPY – 4 Hour Chart 4-hour Chart Indicators Reading The USD/JPY pair is currently above the 25% range of the daily stochastic. It indicates that the pair is in a bullish momentum. The SMAs are sloping downward indicating the downtrend. General Outlook for USD/JPY USD/JPY has been on a downward move but the selling pressure is reaching bearish exhaustion. According to the Fibonacci tool analysis, the Yen will fall and reverse at level 103.23. Source: https://learn2.trade 
    • EURJPY BEARISH MOMENTUM REMAINS TOWARD 123.00 LEVEL EURJPY Price Analysis – November 20 The EURJPY pair is attempting to close beneath the 123.37 price zone as speculative interest stays trapped between coronavirus outbreaks and vaccine hopes. The pairs selling momentum remains toward the 123.00 level. Key Levels Resistance Levels: 127.07, 125.00, 123.37 Support Levels: 122.37, 121.61, 119.31 EURJPY Long term Trend: Ranging As seen in the daily time frame, the downside pressure is expected to accelerate if EURJPY breaks below the 123.00 support, exposing the ascending trendline support and the 122.37 low. Meanwhile, the moving average 5 and 13 stays mixed for a range in the coming sessions. If the 123.00 support holds, a surge towards the 123.40 level could be expected during the following trading session. However, a barrier around the MA 13 could serve as a limitation for bullish traders within this session. Lower here a firm breach of 119.31 level will argue that the rise from 114.42 level has completed and turned the focus back lower. EURJPY Short term Trend: Ranging The intraday bias in EURJPY is staying in consolidation with the current recovery. A much more decline is mildly in consideration with 123.37 minor resistance level intact. Beneath the 122.37 level will target a test on the 121.61 low level initially. The resolute breach there may restart the trend from 127.07 level with another decline to 119.31 key support level. On the upside, though, a breach of 123.37 minor resistance level may shift sentiment back to the upside for the 125.00 level instead. Source: https://learn2.trade 
    • Let’s skim some features of Dominion from the manual 1. Dominion is a black box with votes ultimately tabulated in a central server system. Who has access to the central server and where is the manual and security reviews of that server software? 2. Local IT can clandestinely change settings to potentially alter an entire election. There are no checks and balances or observers of the local IT guy when he accesses machine debug and admin settings. Its unclear if a log exists. 3. Many complex rules decide how the “straight ticket” option works, but he system can be set up to ignore votes for individuals if a straight ticket vote is selected. 4. Network Security is very weak since all software access keys use the same cryptographic pair. This gives plausible deniability to whoever potentially decides to mess around with voting settings. It cant be proven who changed a setting since everybody has the same key 5. Digital certificates are not protected by password, and Dominion user manual explicitly says not to enter a password. This enables potential for bad actors to MITM attack data traveling over network between precinct tabulator and central tabulator. 6. Cryptic “split rotation” function that features the ability to “force a maximum deviation”. There is no definition of a “split rotation”, so we cannot know what “force a maximum deviation” means in this instance. 7. Settings can be changed during evening downtime on first night of voting. Much easier to change settings on hundreds of machines than to forge thousands of ballots. A couple of people can do it quickly. 8. The word “Cast” became “Print”, obfuscating the moment when your vote becomes officially cast. Reason for the semantic changes requested by the State of Pennsylvania to the Dominion voting software is currently unknown. 9. There is an option to force the vote scanner to “overrun” a preset amount of ballots every time anybody pauses the scan mid-batch. “Overrun” is undefined. Potential for abuse is high with this function, which was added shortly after 2018 mid-term elections.   ... Americans have a bad and chronic case of “it can’t happen here” ... I'm just sayin'  
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