Daily Market News by Xtreamforex.com

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  1. #91
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    Daily Market News by Xtreamforex.com
    STELLARíS LUMEN TECHNICAL ANALYSIS Ė BACK IN THE BEAR TRAP
    Itís back in the red for Stellarís Lumen and the broader market, with a failure to recover through the day raising the prospects of sub-$0.20 levels before any rebound in the coming weeks.
    Key Highlights
    Stellarís Lumen gained 1.09% on Tuesday, following Mondayís 1.83% rise, to end the day at $0.23412.
    A morning pullback to an intraday low $0.22986 saw Stellarís Lumen hold well above the dayís first major support level at $0.2212.
    An afternoon rally saw Stellarís Lumen move through to an intraday high $0.24236 to test the first major resistance level at $0.2431 before easing back to $0.23 levels by the dayís end.
    In spite of the gains, Stellarís Lumen continued to fall well short of the 23.6% FIB Retracement Level of $0.2648, supporting the extended bearish trend.
    Stellarís Lumen Price Support
    Stellarís Lumen gained 1.09% on Tuesday, following on from Mondayís 1.83% rise, to end the day at $0.23412.

    Following the broader market, Stellarís Lumen fell to an intraday low $0.22986 in the early part of the day, the morningís low holding well above the first major support at $0.2212.

    A late morning recovery saw Stellarís Lumen rally through to an intraday high $0.24236 to test the dayís first major resistance level at $0.2431 before pulling back to sub-$0.23 levels by the dayís end, the failure to break through the first major resistance level to take a run at the 23.6% FIB Retracement Level of $0.2648 continuing to support the extended bearish trend formed at late Aprilís swing hi $0.46547.

    At the time of writing, Stellarís Lumen was down 2.82% to $0.22772, with Stellarís Lumen pulling back from a start of the day $0.23657 high to a morning $0.22206 low, in whatís been a relatively choppy start to the day, Stellarís Lumen falling through the first major support level at $0.2285 and second major support level of $0.2229 before a partial recovery through the morning.

    For the day ahead, a move through to $0.2354 would support a run at the dayís first major resistance level at $0.2410, though with the broader market sitting deep in the red at the time of writing, Stellarís Lumen will likely struggle to break through to $0.24 levels through the day, the early pullback to sub-$0.23 levels continuing to point to a possible near-term sub-$0.20 low before any meaningful recovery.

    Failure to break back through to $0.23 levels would likely see Stellarís Lumen take a bigger hit later in the day, with the second major support level at $0.2229 in back in play through the afternoon before any recovery.
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    MARKET MORNING BRIEFING: POUND SAW A HIGH NEAR 1.3315 ON FRIDAY
    STOCKS

    Dow (24580.89, +0.49%) could get some decent support near 24250 but overall there could be chances of a fall towards 24000 in the medium term. Near to medium term looks bearish towards 24000 with some short corrective upmoves.

    12700 is the earlier support turned resistance and could hold in the near term keeping Dax (12579.72, +0.54%) in the 12400-12700 region for some time. Some ranged and stable movement is possible in the next few sessions.

    Although Nikkei (22409.10, -0.48%) got some support at 22000, the resistance near 22800 seems to be holding well and is important. While the index trades below 22800, medium term looks bearish with scope of testing 21500 on the weekly candles.

    Shanghai (2884.76, -0.17%) could trade sideways in the 2800-2950 region just now. An immediate rise towards 2950 is possible from where the index could come off towards 2800 or lower in the longer run.

    Sensex (35689.60, +0.73%) and Nifty (10821.85, +0.75%) are trading in a narrow region of 35250-35750 and 10650-10850 respectively. This could continue for a couple of more sessions, before the indices break on either side of the said range. Till then , medium term direction is unclear.
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    AUD/USD TO CONTINUE TO TRADE DEFENSIVELY IN THE WEEK AHEAD – ANZ

    Analysts at ANZ are out with their view on the AUD/USD pair for the coming week, as cited in their weekly FX Strategy report.

    Key Quotes:

    “The data calendar is light, but we’ll keep an eye on auction clearance rates – as weakness in the housing sector is a key downside risk for the AUD

    The AUD is likely to remain caught in the cross-fire of US trade policy for now.

    We could be less bearish on the outlook if there were strong domestic data to latch onto, but the data flow remains uninspiring from an RBA rate hike perspective, and risks around the housing market may also weigh.

    Favorable terms-of-trade have helped so far, but this channel seems to be steadying.
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    BITCOIN AND ETHEREUM PRICE FORECAST Ė BTC PRICES FALL
    The prices have become very volatile over the weekend.
    The BTC prices have been very volatile during the weekend as the situation begins to get tense for the bulls who are clearly on the backfoot over this period. The region around $6600 served to be a resistance once again and we have seen the prices fall below the $600 region over the weekend. But what should encourage the bulls for the short term is the fact that the prices have since managed to rebound pretty quickly over the last few hours and it is now back above the $6000 region as of this writing. This shows the amount if buying that is available in the $5800 region which should now serve as strong support for the short term.
    BTC Prices Fall Below $6000 Briefly
    It has indeed been tough times for the BTC bulls as the prices continue to fall despite the growing size and depth of the market. The incoming regulations and the larger investors seem to have had a negative impact on the prices so far though we continue to believe that this would be the case for the short term and that in the medium term, this would only add value to the market and push the prices higher in a slow and steady manner. But it is important for the weaker traders to hold on and it remains to be seen how long they would be able to do so as the prices continue to remain weak and continue to fall during the short term.
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    BITCOIN AND ETHEREUM PRICE FORECAST Ė BTC PRICES BUOYANT
    The BTC prices continue to remain well supported over the last 24 hours as the price have managed to rebound from below the $6000 region and have been trading above that region during the last 24 hours. It is likely that the prices would continue to trade in a buoyant manner in the short term though the strong selling region at $6600 continues to loom just ahead and this should cap the prices for now. Yesterday, we also saw reports that said that the exchange Bitfinex had released an additional 200 million worth of Tether (USDT) and that was the main news during the short term.

    BTC Prices Above $6000
    It has to be noted that the last time that such an action of issuing addition tether happened, the BTC prices jumped and this time, the investors and the traders expect a similar kind of action and this could be one of the reasons for the strong rebound in the prices and for the fact that the prices continue to be well bid over the last 24 hours. Of course, there has not been anything official too connect the dots between the USDT issuance and the price hike in BTC but these are the straws that the traders try to hold on to. Also, the fact that this issuance has come about when the BTC prices are below the $6000 region has led to the prospect that there would be some buying of BTC worth the tether that has been issued and this is the fundamentals that the traders are banking upon for their bullish view on the BTC prices in the short term.
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    PRICE OF GOLD FUNDAMENTAL WEEKLY FORECAST Ė COULD BE UNDERPINNED BY WEAK DOLLAR, FALLING TREASURY YIELDS

    Gold is likely to continue to be influenced by the U.S. Dollar this week and its reaction to commodity-linked currencies. Gold could be underpinned if rising crude oil prices drive up the Loonie, Aussie and Kiwi against the Greenback. However, gains could be limited if Treasury yields stabilize or rise.
    Gold futures closed at their lowest level since the week-ending December 15 as investors continued to react the strengthening U.S. Dollar and expectations of rising U.S. interest rates. Investors showed almost no reaction to simmering fears of an escalating trade war between the United States and China.

    August Comex Gold futures settled at $1270.70, down $7.80 or -0.61%.

    While gold was testing a 6-month low, the U.S. Dollar was surging to an 11-month high against a basket of currencies early last week. Dollar investors reacted to geopolitical events such as the escalating tensions over trade between the United States and China, U.S. economic data and weaker Treasury yields due to a mixed performance in U.S. equity markets.

    The dollar rose sharply and gold weakened on June 19 after U.S. President Donald Trump threatened more tariffs on China in an escalating trade dispute investors fear could hurt global growth. Trump threatened to impose a 10 percent tariff on $200 billion of Chinese goods, prompting a swift warning from Beijing of retaliation.
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    MARKET MORNING BRIEFING: GOLD HAS COME OFF INSTEAD OF TRYING TO MOVE UP TOWARDS 1280
    STOCKS

    Dow (24252.80, -1.33%) and Dax (12270.33, -2.46%) both came off sharply yesterday. Dow may test immediate daily support near 24000 from where a corrective bounce back to 24750-25000 is possible. A break below 24000, if seen could take the index down to 23200 as seen on the 3-day candles.

    Dax is likely to test weekly trend support near 12100 which if holds could push the index back to higher levels. A break below 12100, if seen would be vulnerable for a fall towards 11800.

    Nikkei (22221.33, -0.52%) seems to be gradually coming down from 22800 levels and looks bearish towards 21800-21400 levels on the 3-day candles. There is enough room on the downside just now and if the 22800 level holds strong, near to medium term is likely to be bearish.

    Shanghai (2846.62, -0.44%) opened with a gap down today and has lost immediate hopes of any corrective upmove towards 2950. The current fall seems very sharp and may take the index further down towards 2750.

    Sensex (35470.35, -0.61%) and Nifty (10762.45, -0.55%) is likely in the last leg of the narrow range-trade and may break out on either side within the next 2-sessions. A break on either side would determine the direction for movements at least the next one week.
    Read more:Forex Trading Market News , Forex Forecast & Forex Economic Calendar

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    BITCOIN CASH, LITECOIN AND RIPPLE DAILY ANALYSIS Ė 28/06/18

    The crypto majors are back in the red as investors lock in Wednesdayís gains, cutting back any hopes of a near-term extended rally to reverse the continued bearish trend.
    Bitcoin Back in Reverse
    Bitcoin Cash gained 2.78% on Wednesday, partially reversing Tuesdayís 7.96% loss, to end the day at $713.6.

    A start of the day fall to an intraday low $685.1 saw Bitcoin Cash hold above the first major support level at $671.43, before a late morning bounce led Bitcoin Cash back through to $700 levels, with a morning high $721.9.

    An upward trend through the rest of the day saw Bitcoin Cash strike an intraday high $724.1 that came up short of the first major resistance level at $737.43, before easing back at the end of the day.

    At the time of writing, Bitcoin Cash was down 0.86% to $707.3, with Bitcoin Cash hitting a morning high $724.8 at the start of the day before pulling back to a morning low $701, the moves through the early part of the day leaving the first major resistance level at $730.1 and first major support level at $691.1 untested early on.

    For the day ahead, a move through to $710 levels would support a run at the dayís first major resistance level at $730.1, though for a move through to $730 levels, sentiment across the market will need to improve, investors locking in Wednesdayís gains in the early hours.

    Failure to move back through $710 to take a run at $730 could see Bitcoin Cash take a bigger hit later in the day, sub-$700 support levels in play, with the extended bearish trend firmly intact.
    Read more:Crypto News Archives - XtreamForex

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    AUD/USD AND NZD/USD FUNDAMENTAL DAILY FORECAST Ė RBNZ COULD PUSH RATE HIKE FURTHER INTO FUTURE, OR CUT RATES

    The Reserve Bank of New Zealand decided to leave its benchmark interest rate unchanged at 1.75 percent. Traders are saying they knew that rates would stay the same, but they were surprised by the grim tone of Reserve Bank Governor Adrian Orrís comments. Based on his comments, traders are now saying that a rate hike is a long way off, but the chances of a rate cut cannot be eliminated

    The New Zealand Dollar is trading slightly lower early Thursday after a steep sell-off the previous session. At 0545, GMT the NZD/USD is trading .6776, down 0.0019 or -0.27%. The AUD/USD is at .7352, up 0.0012 or +0.16%.

    Earlier in the session, in a widely expected move, the Reserve Bank of New Zealand decided to leave its benchmark interest rate unchanged at 1.75 percent. The tone, however, of the RBNZ rate statement suggested the central bank looks to be leaning towards a more ďdovishĒ stance in response to weaker-than-expected growth numbers.

    Traders are saying they knew that rates would stay the same, but they were surprised by the grim tone of Reserve Bank Governor Adrian Orrís comments. Based on his comments, traders are now saying that a rate hike is a long way off, but the chances of a rate cut cannot be eliminated.

    Orr, in his statement, kept the door open, saying the central bank was well-positioned to manage change in either direction Ėup or down Ė as necessary. He also said the outlook for the New Zealand economy, as detailed in the bankís May statement policy statement, remained intact.
    Read more:Forex Forecast Archives - XtreamForex

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    in ro ham eslah kon:
    STELLARíS LUMEN TECHNICAL ANALYSIS Ė BUCKS THE TREND EARLY

    Key Highlights
    Stellarís Lumen gained 4.09% on Wednesday, partially reversing Tuesdayís 7.73% slide, to end the day at $0.19099.
    An intraday low $0.18015 hit in the early afternoon held above the dayís first major support level at $0.1771.
    A mid-afternoon rally led Stellarís Lumen to a late in the day intraday high $0.19327, coming within reach of the dayís first major resistance level at $0.1941 before easing to the dayís ending $0.19099.
    Stellarís Lumen Price Support
    Stellarís Lumen gained 4.09% on Wednesday, partially reversing Tuesdayís 7.73% slide, to end the day at $0.19099.

    In a relatively choppy day, Stellarís Lumen was under pressure through the morning, while finding support at $0.18 levels to avoid a pullback to $0.17 levels.

    Failed attempts at a breakout in the late morning to $0.19 levels saw Stellarís Lumen slide to an intraday low $0.18015 that held well above the dayís first major support level at $0.1771, leading to a second half of the day rally that saw Stellarís Lumen move through to an intraday high $0.19327, testing the dayís first major resistance level at $0.1941 before easing back to an end of day $0.19099.

    The continued failure to break out from major resistance levels and the 23.6% FIB Retracement Level at $0.2442 has left the extended bearish trend formed at late Aprilís swing hi $0.46457 firmly intact, with no signs of a bearish trend reversal in sight.

    At the time of writing, Stellarís Lumen was down 0.06% to $0.19087 in whatís been a range bound start to the day by Stellar Lumen standards.

    An early morning $0.19243 high came up short of the dayís first major resistance level at $0.1961, with a mid-morning $0.18807 low managing to steer clear of the dayís first major support level at $0.1830 in spite of the broad based market sell-off, with Stellarís Lumen having bucked the trend earlier in the morning with minor gains.

    For the day ahead, a move through the morningís high $0.19243 high would support a run at the first major resistance level a $0.1961 to bring $0.20 levels into play, though with sentiment across the broader market negative through the early part of the day, $0.20 levels will be some way off, leaving the extended bearish trend intact.

    Failure to move back through the morningís $0.19243 high could see Stellarís Lumen catch up with the broader market through the afternoon, with the first major support level at $1830 in play, though we would expect Stellarís Lumen to avoid bringing sub-$0.18 support levels into range barring particularly dire crypto news hitting the wires through the day.
    Read more:Crypto News Archives - XtreamForex

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