Everyday Fundamental Analysis from Paxforex

NZDUSD Fundamental Analysis – July 26th 2016


Here is the key factor to keep in mind today for New Zealand Dollar trades:

New Zealand Trade Balance: The New Zealand Trade Balance for June was reported at NZ$127M monthly and at -NZ$3,313M year-to-date. Economists predicted a figure of NZ$150M and of -NZ$3,300. Forex traders can compare this to the New Zealand Trade Balance for May which was reported at NZ$358M and at -NZ$3,633M. Exports were reported at NZ4.26B and Imports were reported at NZ4.13B. Economists predicted a figure of NZ$4.22B and of NZ$4.13B. Forex traders can compare this to Exports for May which were reported at NZ$4.57B and Imports which were reported at NZ$4.22B.
Here are the key factors to keep in mind today for US Dollar trades:

US S&P/Case-Shiller Composite 20: The US S&P/Case-Shiller Composite 20 for May is predicted to increase by 0.5% monthly and by 5.6% annualized. Forex traders can compare this to the US S&P/Case-Shiller Composite 20 for April which increased by 0.5% monthly and by 5.4% annualized.
US Markit Services PMI and Markit Composite PMI: The US Preliminary Markit Services PMI for July is predicted at 52.0. Forex traders can compare this to the first US Markit Services PMI for July which was reported at 51.4. The US Preliminary Markit Composite PMI for July is predicted at 51.2. Forex traders can compare this to the first US Markit Composite PMI for July which was reported at 51.2.
US Consumer Confidence: US Consumer Confidence for July is predicted at 95.5. Forex traders can compare this to US Consumer Confidence for June which was reported at 98.0.
US Richmond Fed Manufacturing Index: The US Richmond Fed Manufacturing Index for July is predicted at -5. Forex traders can compare this to the US Richmond Fed Manufacturing Index for June which was reported at -7.
US New Home Sales: US New Home Sales for June are predicted to increase by 1.6% monthly to 560K new homes. Forex traders can compare this to US New Home Sales for May which decreased by 6.0% monthly to 551K new homes.
Should price action for the NZDUSD remain inside the or breakout above the 0.7050 to 0.7100 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 0.7075
Take Profit Zone: 0.7300 – 0.7350
Stop Loss Level: 0.7000
Should price action for the NZDUSD breakdown below 0.7050 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 0.7000
Take Profit Zone: 0.6850 – 0.6900
Stop Loss Level: 0.7050

Gold Fundamental Analysis – August 17th 2016


Here are the key factors to keep in mind today for Gold trades:

New Zealand Producer Prices: New Zealand Producer Prices Inputs for the second-quarter increased by 0.9% quarterly and New Zealand Producer Prices Outputs increased by 0.2% quarterly. Forex traders can compare this to New Zealand Producer Prices Inputs for the first-quarter which decreased by 1.0% quarterly and to New Zealand Producer Prices Outputs which decreased by 0.2% quarterly.
New Zealand Employment Data: The Unemployment Rate for the second-quarter was reported at 5.1%. Economists predicted an Unemployment Rate of 5.3%. Forex traders can compare this to the Unemployment Rate for the first-quarter which was reported at 5.2%. The Employment Change for the second-quarter increased by 2.4% quarterly and by 4.5% annualized. Economists predicted an increase of 0.6% quarterly and 2.3% annualized. Forex traders can compare this to the Employment Change for the first-quarter which increased by 1.3% quarterly and 2.0% annualized. The Participation Rate for the second-quarter was reported at 69.7% quarterly. Economists predicted a Participation Rate of 68.8% quarterly. Forex traders can compare this to the Participation Rate for the first-quarter which was reported at 69.0% quarterly.
Australian Westpac Leading Index: The Australian Westpac Leading Index for July increased by 0.05% monthly. Forex traders can compare this to the Australian Westpac Leading Index for June which decreased by 0.22%.
Australian Wage Cost Index: The Australian Wage Cost Index for the second-quarter increased by 05% quarterly and by 2.1% annualized. Economists predicted an increase of 0.5% quarterly and 2.0% annualized. Forex traders can compare this to the Australian Wage Cost Index for the first-quarter which increased by 0.5% quarterly and 2.1% annualized.
UK Jobless Claims Change and Claimant Count Rate: UK Jobless Claims Change for July was reported at -8.6K and the Claimant Count Rate was reported at 2.2%. Economists predicted a reading of 9.0K and 2.2%. Forex traders can compare this to UK Jobless Claims Change for for June which was reported at 0.4K and the Claimant Count Rate which was reported at 2.2%.
UK Employment Change, ILO Unemployment Rate and Average Weekly Earnings: The UK Employment Change for the tri-monthly period ending in June was reported at 172K and the ILO Unemployment Rate at 4.9%. Economists predicted a reading of 153K and 4.9%. Forex traders can compare this to the UK Employment Change for May which was reported at 176K and to the ILO Unemployment Rate which was reported at 4.9%. Average Weekly Earnings for the tri-monthly period ending in June increased by 2.4% annualized and Average Weekly Earnings Excluding Bonuses increased by 2.3% annualized. Economists predicted an increase of 2.4% and of 2.3%. Forex traders can compare this to Average Weekly Earnings for May which increased by 2.3% and Average Weekly Earnings Excluding Bonuses which increased by 2.2%.
Should price action for Gold remain inside the or breakdown below the 1,340.00 to 1,350.00 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1,345.00
Take Profit Zone: 1,200.00 – 1,210.00
Stop Loss Level: 1,380.00
Should price action for Gold breakout above 1,350.00 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1,360.00
Take Profit Zone: 1,380.00 – 1,400.00
Stop Loss Level: 1,340.00

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BPUSD Fundamental Analysis – October 18th 2016


Here are the key factors to keep in mind today for British Pound trades:

UK CPI: The UK CPI for September is predicted to increase by 0.2% monthly and by 0.9% annualized. Forex traders can compare this to the UK CPI for August which increased by 0.3% monthly and by 0.6% annualized. The Core CPI for September is predicted to increase by 1.4% annualized. Forex traders can compare this to Core CPI for August which increased by 1.3% annualized.
UK PPI: The UK PPI Input for September is predicted to increase by 0.4% monthly and by 7.4% annualized. Forex traders can compare this to the UK PPI Input for August which increased by 0.2% monthly and by 7.6% annualized. The UK PPI Output for September is predicted to increase by 0.2% monthly and by 1.1% annualized. Forex traders can compare this to the UK PPI Output for August which increased by 0.1% monthly and by 0.8% annualized. The UK PPI Core Output for September is predicted to increase by 0.2% monthly and by 1.4% annualized. Forex traders can compare this to the UK PPI Core Output for August which increased by 0.2% monthly and by 1.3% annualized.
UK RPI: The UK RPI for September is predicted to increase by 0.1% monthly and by 2.0% annualized. Forex traders can compare this to the UK RPI for August which increased by 0.4% monthly and by 1.8% annualized. The UK RPI Excluding Mortgage Interest Payments for September is predicted to increase by 2.2% annualized. Forex traders can compare this to the UK RPI Excluding Mortgage Interest Payments for August which increased by 1.9% annualized.
Here are the key factors to keep in mind today for US Dollar trades:

US CPI: The US CPI for September is predicted to increase by 0.3% monthly and by 1.5% annualized. Forex traders can compare this to the US CPI for August which increased by 0.2% monthly and by 1.1% annualized. The US Core CPI for September is predicted to increase by 0.2% monthly and by 2.3% annualized. Forex traders can compare this to the US Core PPI for August which increased by 0.3% monthly and by 2.3% annualized.
US NAHB Housing Market Index: The US NAHB Housing Market Index for October is predicted at 63. Forex traders can compare this to the US NAHB Housing Market Index for September which was reported at 65.
Should price action for the GBPUSD remain inside the or breakout above the 1.2225 to 1.2275 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1.2250
Take Profit Zone: 1.2800 – 1.2850
Stop Loss Level: 1.2100
Should price action for the GBPUSD breakdown below 1.2225 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1.2175
Take Profit Zone: 1.2000 – 1.2050
Stop Loss Level: 1.2225

Analysis of SILVER 18.07.2019

The price is below the moving average of 20 MA and MA 200, indicating the downward trend.
MACD is below the zero level.
The oscillator Force Index is below the zero levels.

If the level of support is broken, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 16.100
• Take Profit Level: 16.450 (350 pips)

If the price rebound from a support level, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 15.900
• Take Profit Level: 15.800 (100 pips)

GOLD
A possible long position at the breakout of the level 1430.00

USDCHF
A possible short position in the breakdown of the level 0.9840

GBPUSD
A possible long position at the breakout of the level 1.2485

USDJPY
A possible short position in the breakdown of the level 107.50

Analysis of EURJPY 19.07.2019
The price is below the moving average of 20 MA and MA 200, indicating the downward trend.
MACD is below the zero level.
The oscillator Force Index is below the zero levels.

If the level of support is broken, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 120.70
• Take Profit Level: 119.70 (100 pips)

If the price rebound from a support level, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 121.35
• Take Profit Level: 121.85 (50 pips)

GOLD
A possible long position at the breakout of the level 1453.00

USDCHF
A possible short position in the breakdown of the level 0.9800

GBPUSD
A possible long position at the breakout of the level 1.2560

USDJPY
A possible long position at the breakout of the level 107.70

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USDCHF Fundamental Analysis – July 22nd 2019

Forex traders will get a light economic calendar on the first trading day of this week. Given the sell-off at the close of the US equity trading session on Friday and this morning’s risk-off session in Asia, safe haven assets such as the Swiss Franc are expected to outperform. Conflicting messages about a US interest rate cut by FOMC members has added uncertainty about the US Dollar. The USDCHF has been under selling pressure which only increased after this currency pair broke below parity. How long will this downtrend last? Follow the PaxForex Daily Fundamental Analysis and earn over 500 pips per month with the help of our expert analysts.

Here is the key factor to keep in mind today for US Dollar trades:

US Chicago Fed National Activity Index: The US Chicago Fed National Activity Index for June is predicted at 0.10. Forex traders can compare this to the US Chicago Fed National Activity Index for May which was reported at -0.05.
As the global economy continues to slow down sharply, the Swiss economy has provided a pocket of strength which added to the bullish sentiment in the Swiss Franc. The rise in tension in the Persian Gulf are also adding to the downtrend in the USDCHF which is likely to extend as forex traders are awaiting the next Fed meeting and as second-quarter earnings season will dominate over the next few weeks. Is now the right time to seek long trading opportunities in this currency pair or will the sell-off last? This morning’s fundamental analysis will explore scenarios in both directions.

Here are the key factors to keep in mind today for Swiss Franc trades:

Swiss Money Supply M3: Swiss Money Supply M3 for June is predicted to increase by 3.5% annualized. Forex traders can compare this to Swiss Money Supply M3 for May which increased by 3.4% annualized.
Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of July 19th are predicted at CHF577.6B and Swiss Domestic Sight Deposits are predicted reported at CHF478.9B. Forex traders can compare this to Swiss Total Sight Deposits for the week of July 12th which were reported at CHF579.0B and to Swiss Domestic Sight Deposits which were reported at CHF480.1B.
Should price action for the USDCHF remain inside the or breakdown below the 0.9780 to 0.9845 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 0.9835
Take Profit Zone: 0.9540 – 0.9600
Stop Loss Level: 0.9890
Should price action for the USDCHF breakout above 0.9840 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 0.9865
Take Profit Zone: 0.9965 – 1.0010
Stop Loss Level: 0.9815

USDJPY Fundamental Analysis – July 23rd 2019

Forex traders will get US housing data as well as a regional manufacturing index which is expected to add volume to US Dollar trades. Regional reports have come in mixed and highlighted cracks in the US economy. The USDJPY advanced off of its lows, but remains stuck in a tight trading range as an interest rate cut by the US Fed looms as the economy is cooling. Can bulls attempt a breakout or will bears force a reversal? Today’s fundamental analysis will take a look at the upside and downside potential of this currency pair.

Here are the key factors to keep in mind today for US Dollar trades:

US House Price Index: The US House Price Index for May is predicted to increase by 0.3% monthly. Forex traders can compare this to US House Price Index for April which increased by 0.4% monthly.
US Richmond Fed Manufacturing Index: The US Richmond Fed Manufacturing Index for July is predicted at 5. Forex traders can compare this to the US Richmond Fed Manufacturing Index for June which was reported at 3.
US Existing Home Sales: US Existing Home Sales for June are predicted to decrease by 0.1% monthly to 5.34M. Forex traders can compare this to US Existing Home Sales for May which increased by 2.5% monthly to 5.34M.
The Japanese Yen came under selling pressure as forex traders locked in floating trading profits after a strong rally. Given the elevated degree of geopolitical risks, this sell-off could be reversed quickly as demand for safe haven assets is expected to remain high. Later during today’s trading session, the next UK Prime Minister will be announced. Adding to bullish sentiment for the Japanese Yen was a research note which suggested that traders who seek a hedge for their portfolio will find a better suitor in the Japanese currency than gold. How will this impact the USDJPY? Subscribe to the PaxForex Daily Fundamental Analysis and earn more pips per trade!

Here is the key factor to keep in mind today for Japanese Yen trades:

Bank of Japan Core CPI: The Bank of Japan Core CPI for June increased by 0.6% annualized. Economists predicted an increase of 0.6%. Forex Traders can compare this to the Bank of Japan Core CPI for May which increased by 0.7% annualized.
Should price action for the USDJPY remain inside the or breakdown below the 107.800 to 108.300 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 108.150
Take Profit Zone: 104.600 – 105.250
Stop Loss Level: 109.000
Should price action for the USDJPY breakout above 108.300 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 108.800
Take Profit Zone: 109.900 – 110.650
Stop Loss Level: 108.150

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Pound falls for the third day in a row

On Tuesday, the British pound has been falling for the third day in a row, discouraged by a stronger dollar and fears that the new prime minister, whose name will become known later, will withdraw Britain from the European Union without a trade deal with the bloc.

The result of the Conservative Party election will be announced just after 10.00 GMT, with Brexiteer Boris Johnson widely expected to have beaten foreign minister Jeremy Hunt. The winner will become prime minister on Wednesday.

Johnson has declared that the Oct. 31 Brexit deadline is set in stone and Britain will leave the EU then even if no transitional trading arrangements are in place.

That belligerent tone has taken sterling 2% lower against the dollar this month, it has depreciated 11 weeks out of the past 12.

However, given Johnson is the overwhelming favorite to win the contest, a big sterling move after the announcement is seen as unlikely, with a greater focus on the new prime minister’s first speech in office and cabinet appointees.

Also, a slew of ministers who disagree with Johnson’s hard Brexit stance, including chancellor Philip Hammond are expected to resign, which should pressure the pound lower.

The pound fell 0.3% versus the dollar in the early morning at $1.2441, heading back towards recent two-year lows of $1.2382, battered also by a surge in the dollar.

Against the euro, it was down 0.2% at 89.97.

Recent weeks have seen investors sharply cut back on sterling positioning, with short positions growing to a 10-month high in the latest week, based on Commodity Futures Trading Commission data.

Sterling has also come under pressure in recent weeks from signs the Bank of England may backtrack on its earlier policy tightening signals.
Michael Saunders, a policymaker who has talked in recent months about the likely need for higher borrowing costs, was quoted as saying by Bloomberg that Brexit might stop the BOE from raising interest rates.

Forex trading recommendations:

EURUSD: Buy. Entry point – 1, 1191. Take profit – 1, 1208. Stop Loss – 1, 1162.

GBPUSD: Buy. Entry point– 1, 243. Take Profit – 1, 2457. Stop Loss – 1, 2383.

USDCAD: Buy. Entry point – 1, 3135. Take Profit – 1, 3151. Stop Loss – 1, 3108.

EURAUD Fundamental Analysis – July 24th 2019

Forex traders will get a heavy dose of PMI data out of the Eurozone which is likely to dictate trading in the Euro for the trading day. Economists predict a minor slowdown in July across the board with the German Manufacturing PMI in focus. The tariff threat by US President Trump on the Eurozone auto sector still looms, but bullish momentum in the EURAUD is building as this currency pair is ripe for a short-covering rally. How will this morning’s data impact price action? Follow the PaxForex Daily Fundamental Analysis where you can grow your balance trade-by-trade!

Here are the key factors to keep in mind today for Euro trades:

French Business Survey: The French Business Survey for July is predicted at 102. Forex traders can compare this to the French Business Survey for June which was reported at 102.
French Manufacturing PMI, Services PMI and Composite PMI: The Preliminary French Markit Manufacturing PMI for July is predicted at 51.6. Forex traders can compare this to the French Markit Manufacturing PMI for for June which was reported at 51.9. The Preliminary French Markit Services PMI for July is predicted at 52.8. Forex traders can compare this to the French Markit Services PMI for for June which was reported at 52.9. The Preliminary French Markit Composite PMI for July was reported at 52.5. Forex traders can compare this to the French Markit Composite PMI for for June which was reported at 52.7.
German Manufacturing PMI, Services PMI and Composite PMI: The Preliminary German Markit Manufacturing PMI for July is predicted at 45.2. Forex traders can compare this to the German Markit Manufacturing PMI for for June which was reported at 45.0. The Preliminary German Markit Services PMI for July is predicted at 55.2. Forex traders can compare this to the German Markit Services PMI for for June which was reported at 55.8. The Preliminary German Markit Composite PMI for July is predicted at 52.3. Forex traders can compare this to the German Markit Composite PMI for for June which was reported at 52.6.
Eurozone Manufacturing PMI, Services PMI and Composite PMI: The Preliminary Eurozone Markit Manufacturing PMI for July is predicted at 47.6. Forex traders can compare this to the Eurozone Markit Manufacturing PMI for for June which was reported at 47.6. The Preliminary Eurozone Markit Services PMI for July is predicted at 53.3. Forex traders can compare this to the Eurozone Markit Services PMI for for June which was reported at 53.6. The Preliminary Eurozone Markit Composite PMI for July is predicted at 52.1. Forex traders can compare this to the Eurozone Markit Composite PMI for for June which was reported at 52.2.
Eurozone Money Supply M3: Eurozone Money Supply M3 for June is predicted to increase by 4.6% annualized. Forex traders can compare this to Eurozone Money Supply M3 for May which increased by 4.8% annualized.
Australian PMI data for July showed a continuation of the economic slowdown as all three gauges decreased and came closer to the 50.0 mark which separates expansion from contraction. The Australian Dollar came under pressures which lifted the EURAUD off of strong support levels. Will this turn into a bigger price action reversal? Today’s fundamental analysis will take a look at the upside potential in this currency pair and evaluate the downside risk.

Here are the key factors to keep in mind today for Australian Dollar trades:

Australian CBA Manufacturing PMI, CBA Services PMI and CBA Composite PMI: The Preliminary Australian Manufacturing PMI for July was reported at 51.4. Forex traders can compare this to the Australian CBA Manufacturing PMI for June which was reported at 52.0.The Preliminary Australian CBA Services PMI for July was reported at 51.9. Forex traders can compare this to the Australian CBA Services PMI for June which was reported at 52.6. The Preliminary Australian CBA Composite PMI for July was reported at 51.8. Forex traders can compare this to the Australian CBA Composite PMI for for June which was reported at 52.5.
Australian Skilled Vacancies: Australian Skilled Vacancies for June decreased by 0.6% monthly. Forex traders can compare this to Australian Skilled Vacancies for May which decreased by 1.1% monthly.
Should price action for the EURAUD remain inside the or breakout above the 1.5920 to 1.6010 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1.5965
Take Profit Zone: 1.6260 – 1.6360
Stop Loss Level: 1.5895
Should price action for the EURAUD breakdown below 1.5920 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1.5895
Take Profit Zone: 1.5680 – 1.5735
Stop Loss Level: 1.5965
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Are you managing your portfolio with the best forex platform available to you? Take a look at what PaxForex offers its traders and join our fast growing community now!

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Bitcoin - Forex Combo Strategy: Bitcoin Hodling on the Rise

Welcome fellow followers and new subscribers to this week’s edition of my Bitcoin - Forex Combo Strategy. Cryptocurrencies are testing support levels and I think this could last for a bit longer. Bitcoin is trading at a double support level, but a breakdown below $9,000 is still a viable option as I see the case for a test of the $8,870 mark. Overall, the bullish trend remains intact and I can only reiterate what I have stated during last week’s update “Bitcoin - Forex Combo Strategy: Is Dash Threatening Bitcoin?”, that any drop below $10,000 is a great buying opportunity. I am looking to add to my position of price action drops to its next support level.

I remain very bullish on Bitcoin and this extends to Ripple, despite its recent drop, and I think Litecoin has great potential to close 2019 at a high note. My bearishness in Ethereum remains, unfortunately I closed my short position a bit pre-maturely but I was shoring up capital for my investments in Bitcoin and Ripple. I currently hodl 500 Bitcoin at an average entry price of $8,500, 40,000,000 Ripple at an average entry price of $0.3388 and 20,000 Litecoin which I bought at $77.00. The three charts below show my Bitcoin, Ripple and Litecoin holdings.

Now let’s take a look into hodling Bitcoin which is gaining popularity, or is it? That depends on how you interpret the data. CoinMetrics released data which showed that the untouched Bitcoin supply rose to an all-time high and clocked in at 21.6%. Untouched supply refers to Bitcoins which have not been transferred from wallets and Coin Metrics released data which shows hodling periods between 180 days and two years. This would suggests that Bitcoin is evolving from being used as a way to purchase goods and services in the digital economy to storing value. I have pointed this out last week and stated “ It is great to have Gold in your portfolio, but you will never pay your bills using it. It is more of a store for value and Bitcoin is rightfully labeled Digital Gold in professional circles.”

Some believe that this is a positive development, while others are concerned about it. Die-hard Bitcoin bulls who think we will go to the moon, as far as price action is concerned, will welcome the fact that Bitcoin is being hodled. They will argue that investors are gearing up for a massive bull market which is why untouched supply levels are hitting new all-time highs. Before jumping to conclusions, let’s not forget the scores who bought Bitcoin between $15,000 and $20,000 and who are now simply stuck with them, hoping that it will pay off soon. They are likely to head for the exits as soon as they can turn a profit.

Another fact to consider when looking at the data is that over the past 180 to 360 days, the price of Bitcoin has recovered from the 2018 Crypto Winter and more than triple in value. This would explain why Bitcoin has not been moved out of wallets over a 180 day time period. CoinMetrics stated “Although the size of the BTC supply has been consistently growing, the percent of the overall supply of BTC that has been untouched for at least five years also recently reached a five year high of 21.6%.” A five year period is quite a long time for any asset to remain untouched.

This was picked up by Tuur Demeester who added “I’m not so sure, 5 years without updating your cold storage method is a long time in Bitcoin. IMO most of these coins are likely lost.” This brings up a very valid point. The combination of investors waiting to recover their losses and the potential of lost coins puts the 21.6% untouched supply figure in a different perspective. Finally, institutional investors have entered the space and starting to hodl Bitcoin for the time being. Those position can exit the market as quickly as they entered.

While CoinMetrics look at five year hodl positions, I think that’s a bit stretched. The data over the past two years has plenty of one-off impacts which further distorts the overall picture. Overall, the data we have is not sufficient and leaves plenty of room for interpretation. I do think that Bitcoin should be considered as value storage, just like gold is, and hodling Bitcoin from current levels until we reach new all-time highs above $20,000 makes perfect sense to me. I am sure that in two years the data in regards to untouched positions may paint a different picture.

Let’s move to my forex portfolio now. Last week I finished with a 100 lots short position in the NZDUSD which I took on July 16th 2019 at 0.6730 for a margin requirement of $14,009 with a pip value of $1,000.00 and with a 100 lots long position in the EURCAD which I took on July 17th 2019 at 1.4650 for a margin requirement of $22,437 with a pip value of $765.36. Both positions remain open as price action moved little to warrant an exit or addition. The two charts show both my open forex positions.

On July 18th 2019 I bought 100 lots in the GBPJPY at 134.000 for a margin requirement of $24,957 with a pip value of $925.31. The trading recommendation can be found at “GBPJPY Fundamental Analysis – July 18th 2019”. On July 22nd 2019 I sold 100 lots in the USDCHF at 0.9835 for a margin requirement of $20,000 with a pip value of $1,014.56 according to this trading recommendation “USDCHF Fundamental Analysis – July 22nd 2019”. Finally, earlier this morning, I added a 100 lots log position in the EURAUD at 1.5965 according to this trading recommendation “EURAUD Fundamental Analysis – July 24th 2019”. The margin requirement was $22,285 with a pip value of $698.13. The three charts below show my added forex trades.

Here is the summary of my Bitcoin - Forex Combo portfolio: I hodl 500 Bitcoins worth $4,823,650, 40,000,000 Ripple worth $11,960,000 and 20,000 Litecoin worth $1,784,600 plus a total cash portfolio worth $1,182,404. In addition I have the following forex positions in my portfolio: a 100 lots NZDUSD short position worth $27,009, a 100 lots EURCAD long position worth $23,967, a 100 lots GBPJPY long position worth $102,683, a 100 lots USDCHF short position worth -$2,320 and a 100 lots EURAUD long position worth $22,285. My total Bitcoin - Forex Combo portfolio is worth $19,924,278, down $92,380 from last week’s value of $20,016,658 and further away from my all-time high$22,426,696. As I expect that volatility in cryptocurrencies will stay with us this summer, my balance will gyrate with my hodl positions. At the same time I anticipate that my forex positions will boost my cash balance which I plan to reinvest into cryptocurrencies, especially if we extend down to next support levels. I remain bullish and so should you, ignore stories about collapse in the sector and avoid fake news. Stick to the facts and price action, follow my Bitcoin - Forex Combo Strategy and open your own PaxForex Trading Account. Grow your balance with my guidance and simply comment below with any questions you may have and I will be happy to help you get started with my Bitcoin - Forex Combo Strategy!

GBPJPY Fundamental Analysis – July 25th 2019

Prime Minister Boris Johnson started his new position yesterday after winning the election with a 2-1 majority. As he assembles his pro-Brexit cabinet, the British Pound was able to stabilize at strong support levels and at extreme oversold conditions. The GBPJPY ascended slowly and is now approaching the upper band of its horizontal support area. Will bullish momentum be strong enough for a breakout? Subscribe to the PaxForex Daily Fundamental Analysis and take the profitable side of this currency pair!

Here is the key factor to keep in mind today for British Pound trades:

UK CBI Reported Sales and CBI Total Distributed Reported Sales: UK CBI Reported Sales for July are predicted at -8 and CBI Total Distributed Reported Sales are predicted at -5. Forex traders can compare this to UK CBI Reported Sales for June which were reported at -42 and to CBI Total Distributed Reported Sales which were reported at -22.
The Japanese Yen is caught in crosscurrents as economic data continues to be weak wile safe haven demand from forex traders remains strong. As the global economy is on track to cool further and geopolitical risks remain elevated, volatility in the Japanese Yen is anticipated to remain high. The GBPJPY is ripe for a short-term reversal before the downtrend may extend. How much upside does price action have? Today’s fundamental analysis will explore the upside potential as well as the downside risk from current levels.

Here are the key factors to keep in mind today for Japanese Yen trades:

Japanese Corporate Service Price Index: The Japanese Corporate Service Price Index for June increased by 0.7% annualized. Economists predicted an increase of 0.8% annualized. Forex traders can compare this to the Japanese Corporate Service Price Index for May which increased by 0.9% annualized.
Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for the period ending July 19th was reported at ¥1,027.8B and Japanese Buying Foreign Stocks was reported at -¥76.8B. Forex traders can compare this to Japanese Buying Foreign Bonds for the period ending July 12th which was reported at ¥949.6B and to Japanese Buying Foreign Stocks which was reported at -¥18.6B. Foreign Buying Japanese Bonds for the period ending July 19th was reported at ¥133.2B and Foreigners Buying Japanese Stocks was reported at -¥110.0B. Forex traders can compare this to Foreign Buying Japanese Bonds for the period ending July 12th which was reported at ¥844.3B and to Foreigners Buying Japanese Stocks which was reported at -¥93.1B.
Should price action for the GBPJPY remain inside the or breakout above the 134.250 to 135.250 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 134.850
Take Profit Zone: 138.300 – 139.550
Stop Loss Level: 133.850
Should price action for the GBPJPY breakdown below 134.250 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 133.950
Take Profit Zone: 131.000 – 132.000
Stop Loss Level: 134.850
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EURUSD Fundamental Analysis – July 25th 2019

All eyes will be on the ECB press conference which will follow 45 minutes after the announcement on interest rates where no change is anticipated. Will the ECB open the door for more fiscal stimulus and potentially negative interest rates in response to the bigger-than-expected slowdown in the Eurozone? The Euro is expected to come under a spike in volatility during the press conference. Prior to that, the release of German IFO data, expected to weaken further, will keep forex traders busy. Is now the time to buy the EURUSD? Today’s fundamental analysis will take a look at where price action may be headed next.

Here are the key factors to keep in mind today for Euro trades:

Spanish Unemployment Rate: The Spanish Unemployment Rate for the second-quarter is predicted at 13.7%. Forex traders can compare this to the Spanish Unemployment Rate for the first-quarter which was reported at 14.7%.
German IFO: The German IFO Business Climate Index for July is predicted at 97.1. Forex traders can compare this to the German IFO Business Climate Index for June which was reported at 97.4. The German IFO Current Assessment Index for July is predicted at 100.4. Forex traders can compare this to the German IFO Current Assessment Index for June which was reported at 100.8. The German IFO Expectations Index for July is predicted at 94.0. Forex traders can compare this to the German IFO Expectations Index for June which was reported at 94.2.
ECB Rate Decision: The ECB is predicted to keep its Interest Rate at 0.00%, its Deposit Facility Rate at -0.40% and its Marginal Lending Facility Rate at 0.25%; this would equal no change in the ECB rate policy from the previous meeting.
Forex traders well get a series of key economic data out of the US with durable goods orders front and center. Economists predict an increase across the board, but with regional reports clocking in weaker than anticipated and Manufacturing PMI data dropping to 50.0 the risk remains to the downside. Will today’s data give bears the ammunition to force the US Dollar to the downside and ignite a short-covering rally in the EURUSD? Follow the PaxForex Daily Fundamental Analysis and join our fast growing community of profitable forex traders!

Here are the key factors to keep in mind today for US Dollar trades:

US Inventories: US Preliminary Wholesale Inventories for June are predicted to increase by 0.4% monthly and US Preliminary Retail Inventories are predicted to increase by 0.2% monthly. Forex traders can compare this to US Wholesale Inventories for May which increased by 0.4% monthly and to US Retail Inventories which increased by 0.5% monthly.
US Preliminary Durable Goods Orders: US Preliminary Durable Goods Orders for June are predicted to increase by 0.7% monthly and Durables Excluding Transportation are predicted to increase by 0.2% monthly. Forex traders can compare this to US Durable Goods Orders for May which decreased by 1.3% monthly and to Durables Excluding Transportation which were increased by 0.4% monthly. Capital Goods Orders Non-Defense Excluding Aircraft for June are predicted to increase by 0.3% monthly and Capital Goods Shipments Non-Defense Excluding Aircraft are predicted to increase by 0.2% monthly. Forex traders can compare this to Capital Goods Orders Non-Defense Excluding Aircraft for May which increased by 0.5% monthly and to Capital Goods Shipments Non-Defense Excluding Aircraft which increased by 0.6% monthly.
US Advanced Goods Trade Balance: The US Advanced Goods Trade Balance for June is predicted at -$72.2B. Forex traders can compare this to the US Advanced Goods Trade Balance for May which was reported at -$74.5B.
US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of July 20th are predicted at 220K and US Continuing Claims for the week of July 13th are predicted at 1,688K. Forex traders can compare this to US Initial Jobless Claims for the week of July 13th which were reported at 216K and to US Continuing Claims for the week of July 6th which were reported at 1,686K.
US Kansas City Fed Manufacturing Activity Index: The US Kansas City Fed Manufacturing Activity Index for July is predicted at 2. Forex traders can compare this to the US Kansas City Fed Manufacturing Activity Index for June which was reported at 0.
Should price action for the EURUSD remain inside the or breakout above the 1.1110 to 1.1155 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1.1135
Take Profit Zone: 1.1280 – 1.1320
Stop Loss Level: 1.1160
Should price action for the EURUSD breakdown below 1.1110 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1.1080
Take Profit Zone: 1.0820 – 1.0915
Stop Loss Level: 1.1110
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Does your forex broker provide the proper environment for you to grow your balance trade-by-trade? Take a look at PaxForex now and find out why we remain a top choice for successful forex traders!

EUR is cautious before ECB meeting

The rate of the single European currency shows a weak negative trend in relation to the US currency in trading on Thursday, awaiting a meeting of the European Central Bank, scheduled for today.

This morning, the euro against the dollar fell to 1.1135 dollars per euro from the previous close of 1.1139 dollars per euro. The exchange rate of the US currency to the yen fell to 108.12 yen over USD from yesterday’s close of 108.17 yen. The dollar index fell by 0.01%, to 97.72 points.

The interest of traders is chained today to the ECB meeting. The euro has fallen in price since the beginning of July by 2% against the background of strengthening expectations that the European regulator is capable of weakening its own monetary policy due to the restraint of the global economic growth.

During this period, traders believe that the possibility of reducing the ECB rate on deposits by 10 basis points up to minus 0.5%, is 48%. At the same time, experts note that even if the ECB keeps its monetary policy unchanged, the head of the regulator, Mario Draghi, can provide a signal to lower the rate at a subsequent meeting in September.

In addition, investors continue to assess the pessimistic statistical information from the eurozone, according to which the composite index of business activity in industry and services (PMI) of the eurozone countries in July, according to preliminary estimates, fell to 51.5 points from 52.2 points last month, although it was expected to decrease to 52.1 points. Traders expect additional pressure on the euro, due to the lack of good fundamental signals from Europe.

Big attention of traders also focused on various rumors before the US Federal Reserve meeting next week. According to some of them, the American regulator may not go to a strong rate cut, as President Trump would like, but the US leader has another tool to stimulate the national economy - a selling of US currency. Traders should consider the likelihood of such a move.

During the meeting next week, the Fed is likely to reduce the range of rates by 0.25 percentage points. In the light of the current state of the American economy, such a decision is not so obvious, but Trump, apparently, would like to see an even stronger decline, which could adversely affect the rate of the US currency.

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Forex trading recommendations:

GBPUSD: Buy. Entry point – 1, 248. Take profit – 1, 2496. Stop Loss – 1, 2453.

AUDUSD: Buy. Entry point – 0, 6964. Take Profit – 0, 6979. Stop Loss – 0, 6938.

NZDUSD: Sell. Entry point – 0, 6709. Take Profit – 0, 6694. Stop Loss – 0, 6735.

The Boris Johnson Purge

After winning the leadership race with a 2-1 majority, Boris Johnson became the new Prime Minister of the UK and which now has its first Brexit cabinet after the referendum. The extended Brexit data stands at October 31st 2019, but the EU stated it is willing to extend again. This is something Prime Minister Johnson has ruled out as he promised to deliver on Brexit and move the country forward. He has less than 100 days to deliver. With less than 24 hours in his new job, he wasted no time to reshuffle the cabinet and install pro-Brexit ministers during his purge.

As PM Johnson left Buckingham Palace and arrived at 10 Downing Street, he told supporters and opponents of Brexit who gathered outside that “The doubters, the doomsters, the gloomsters, they are going to get it wrong again. We are going to fulfill the repeated promises of Parliament to the people and come out of the EU on Oct. 31, no ifs or buts, and we will do a new deal, a better deal.” Out of the 29 cabinet ministers who started their jobs Wednesday morning, eighteen were without their positions before the day ended. While PM Johnson has now a pro-Brexit cabinet, he has also created at least eighteen enemies who may hold a grudge and seek to derail the fragile Tory government.

Dominic Raab became First Secretary of State as well as Secretary of State for Foreign and Commonwealth Affairs, Priti Patel became Secretary of State for the Home Department and Sajid Javid Chancellor of the Exchequer. Jacob Rees-Mogg was appointed as Leader of the House of Commons and Lord President of the Council while Ben Wallace was named new Secretary of State for Defence. Liz Truss became the new Secretary of State for International Trade and President of the Board of Trade and Andrea Leadsom was appointed Secretary of State for Business, Energy and Industrial Strategy.

With a pro-Brexit cabinet in charge of Brexit and after the Boris Johnson Purge, is it now the right time to buy the British Pound? How will PM Johnson solve the issues surrounding Brexit in less than 100 days? Open your PaxForex Trading Account today and join our fast growing community of profitable forex traders; find out why PaxForex is one of the prime brokers for new traders and seasoned professionals alike.

The few cabinet ministers who remained include Brexit Secretary Steve Barclay, Health Secretary Matt Hancock, Work and Pensions Secretary Amber Rudd, Leader of the House of Lords Natalie Evans, Wales Secretary Alun Cairns and Attorney General Geoffrey Cox. Michael Gove, Brandon Lewis and Julian Smith were moved to different posts. I regards to a no-deal Brexit, PM Johnson added “The ports will be ready, the banks will be ready, the factories will be ready, business will be ready. The British people have had enough of waiting.” He also pledged that “I take personal responsibility for the change I want to see.” The Boris Johnson Purge is complete with a cabinet ready to deliver Brexit and here are three forex trades ready to deliver profits along the way!

Forex Profit Set-Up #1; Buy GBPUSD - D1 Time-Frame

As the US Fed is poised to cut interest rates, as early as this month or as late as December, and with the global economy moving closer to a recession with each released data point, the GBPUSD is poised to capture a double dose of bullish momentum. Price action is currently stabilizing inside of its horizontal support area, which is being pressured by its secondary descending resistance level,from where a double breakout is favored to materialize. This will clear the path for the GBPUSD to accelerate into its next horizontal resistance level and forex traders are recommended to spread their buy orders inside of the horizontal support area.

The CCI already pushed out of extreme oversold territory and the rise in bullish momentum is now favored to extend the advance above 0 which is expected to attract more buy orders. Download your PaxForex MT4 Trading Platform now and earn grow your account balance trade-by-trade!

Forex Profit Set-Up #2; Sell EURGBP - D1 Time-Frame

The ECB is poised to cut interest rates and increase QE which is anticipated to pressure the Euro to the downside as the economy is slowing down. The EURGBP already started its corrective phase after completing a breakdown below its horizontal resistance area as well as below its primary ascending support level. The primary descending resistance level is adding bearish pressures and this currency pair is on track to extend its correction until it can reach its next horizontal support level. Selling any potential rallies in the EURGBP into the upper band of its horizontal resistance area remains the favored trading approach.

The CCI moved deep into extreme oversold conditions, but remains well off of its previous low with plenty of room to the downside. A minor bounce above -100 cannot be ruled out from where the next push lower is likely to materialize. Subscribe to the PaxForex Daily Fundamental Analysis and earn over 500 pips per month with the help of our expert analysts!

Forex Profit Set-Up #3; Buy GBPCAD - D1 Time-Frame

After a strong performance by the Canadian Dollar so far this year, forex traders decided to start taking profits. This has pushed the GBPCAD above its horizontal support area as well as above its primary and secondary descending resistance levels from where bullish momentum is on the rise. Price action now has a clear path to extend the breakout into a strong rally until it can challenge its next horizontal resistance level. Forex traders area advised to buy and sell-offs in the GBPCAD down to the lower band of its horizontal support area.

The CCI accelerated out of extreme oversold territory and above the 0 mark for a bullish momentum crossover. More upside in this technical indicator is favored to lead price action to the upside. Follow the PaxForex Daily Forex Technical Analysis and simply copy the recommended trades of our expert analysts into your own trading account!

Analysis of EURUSD 25.07.2019
The price is below the moving average of 20 MA and MA 200, indicating the downward trend.
MACD is below the zero level.
The oscillator Force Index is below the zero levels.

If the level of support is broken, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1.1100
• Take Profit Level: 1.1000 (100 pips)

If the price rebound from a support level, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.1170
• Take Profit Level: 1.1200 (30 pips)

GOLD
A possible long position at the breakout of the level 1430.00

USDCHF
A possible long position at the breakout of the level 0.9875

GBPUSD
A possible short position in the breakdown of the level 1.2460

USDJPY
A possible short position in the breakdown of the level 108.00

Silver Fundamental Analysis – July 26th 2019

The ECB left interest rates unchanged yesterday, but analysts expected a 0.1% interest rate cut to be delivered by September. ECB President Draghi stated that the economic conditions are getting worse and said that governments need to pitch in. All eyes are on Germany which disagrees with the ECB’s outlook on the economy. German Finance Minister Olaf Scholz added “It’s not necessary or wise to act as if we were in a crisis.” Uncertainty will accompany the Euro over the summer months as deflationary pressures mount as the Eurozone economy is cooling off fast. Is it time to add more hedges to your forex portfolio wit commodities such as Silver? Subscribe to the PaxForex Daily Fundamental Analysis and find out why more successful forex traders every day prefer to grow their portfolio as PaxForex!

Markets expected more from the ECB and BNP Paribas Asset Management Economist Richard Barwell pointed out that “There is a sense that they are scraping the bottom of the barrel on monetary easing. Hence fiscal policy will have to do more next time around.” Economic data released from Singapore through Germany, France and Italy came in mixed with a bearish bias and traders will get the preliminary second-quarter GDP report out of the US to close the trading week. How will this final piece of data impact price action in Silver? Today’s fundamental analysis will take a look at price action potential in this precious metal.

Here are the key factors to keep in mind today for Silver trades:

South Korean Consumer Confidence: South Korean Consumer Confidence for July was reported at 95.9. Forex traders can compare this to South Korean Consumer Confidence for
Singapore Unemployment Rate: The Singapore Unemployment Rate for the second-quarter was reported at 2.2%. Forex traders can compare this to the Singapore Unemployment Rate for the first-quarter which was reported at 2.2%.
Singapore Industrial Production: Singapore Industrial Production for June increased by 1.2% monthly and decreased by 6.9% annualized. Economists predicted a decrease of 0.7% and of 7.9%. Forex traders can compare this to Singapore Industrial Production for May which decreased by 0.1% monthly and by 2.0% annualized.
German Import Price Index: The German Import Price Index for June decreased by 1.4% monthly and by 2.0% annualized. Economists predicted a decrease of 0.8% monthly and of 1.5% annualized. Forex traders can compare this to the German Import Price Index for May which decreased by 0.1% monthly and by 0.2% annualized.
French Consumer Confidence: French Consumer Confidence for July was reported at 102. Economists predicted a figure of 101. Forex traders can compare this to French Consumer Confidence for June which was reported at 101.
French PPI: The French CPI for June decreased by 0.5% monthly. Economists predicted a decrease of 0.2%. Forex traders can compare this to the French CPI for May which decreased by 0.4% monthly.
Italian Confidence Data: Italian Business Confidence for July was reported at 100.1 and Italian Consumer Confidence was reported at 113.4. Economists predicted a figure of 100.6 and of 109.6 Forex traders can compare this to Italian Business Confidence for June which was reported at 100.7 and to Italian Consumer Confidence which was reported at 109.8.
US GDP: The Preliminary US GDP for the second-quarter is predicted to increase by 1.8% annualized. Forex traders can compare this to the first-quarter GDP which increased by 3.1% annualized. Preliminary Personal Consumption for the second-quarter is predicted to increase by 4.0% annualized. Forex traders can compare this to first-quarter Personal Consumption which increased by 0.9% annualized. The Preliminary GDP Price Index for the second-quarter is predicted to increase by 1.9% annualized. Forex traders can compare this to the first-quarter GDP Price Index which increased by 0.9% annualized. The Preliminary Core PCE for the second-quarter is predicted to increase by 2.0% annualized. Forex traders can compare this to the first-quarter Core PCE which increased by 1.2% annualized.
Should price action for Silver remain inside the or breakout above the 16.150 to 16.600 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 16.400
Take Profit Zone: 18.600 – 19.000
Stop Loss Level: 15.850
Should price action for Silver breakdown below 16.150 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 15.850
Take Profit Zone: 13.850– 14.300
Stop Loss Level: 16.150
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Do you hedge your forex trading strategies with precious metals like Silver? Find out today why you should explore this option and why it represents a smart hedge!

Analysis of EURTRY 26.07.2019

The price is below the moving average of 20 MA and MA 200, indicating the downward trend.
MACD is below the zero level.
The oscillator Force Index is below the zero levels.

If the level of support is broken, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 6.2900
• Take Profit Level: 6.2200 (700 pips)

If the price rebound from a support level, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 6.3900
• Take Profit Level: 6.4100 (200 pips)

GOLD
A possible long position at the breakout of the level 1426.00

USDCHF
A possible long position at the breakout of the level 0.9920

GBPUSD
A possible short position in the breakdown of the level 1.2410

USDJPY
A possible long position at the breakout of the level 108.80

GBPCHF Fundamental Analysis – July 29th 2019

UK Prime Minister Boris Johnson will start his first full week and is expected to further prepare the country for a no-deal Brexit. He told Brussels that unless the Irish backstop is removed, there will be no deal acceptable to the UK. Forex traders are in a holding pattern as the British Pound hovers at strong support levels. The GBPCHF is ripe for a short-term spike and with light economic data ahead, can bulls force a short-covering rally? Today’s fundamental analysis will take a look at the upside potential in this currency pair.

Here are the key factors to keep in mind today for British Pound trades:

UK Consumer Credit and Net Lending Securities on Dwellings: UK Net Consumer Credit for June is predicted at £0.9B and Net Lending Securities on Dwellings is predicted at £3.5B. Forex traders can compare this to UK Net Consumer Credit for May which was reported at £0.8B and to Net Lending Securities on Dwellings which was reported at £3.1B.
UK Mortgage Approvals: UK Mortgage Approvals for June are predicted at 65.8K. Forex traders can compare this to UK Mortgage Approvals for May which were reported at 65.4K.
UK M4 Money Supply: UK M4 Money Supply for June is predicted to increase by 0.2% monthly and by 2.4% annualized. Forex traders can compare this to UK M4 Money Supply for May which decreased by 0.1% monthly and which increased by 2.2% annualized. UK M4 Money Supply excluding IOFCs 3-Month Annualized for June is predicted to increase by 2.5% annualized. Forex traders can compare this to UK M4 Money Supply excluding IOFCs 3-Month Annualized for May which increased by 2.8% annualized.
The ongoing protests in Hong Kong and the escalation of violence has traders on edge which is pushing demand for safe haven assets. The Swiss Franc was leading this sector, but forex traders may opt to realize floating trading profits after a the strong rally. Economic data out of Switzerland remains solid, but a short term count-trend rally on the back of short-covering in the GBPCHF cannot be ruled out. Follow the PaxForex Daily Fundamental Analysis and take the profitable side of this currency pair!

Here is the key factor to keep in mind today for Swiss Franc trades:

Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of July 26th are predicted at CHF577.9B and Swiss Domestic Sight Deposits are predicted at CHF477.1B. Forex traders can compare this to Swiss Total Sight Deposits for the week of July 19th which were reported at CHF579.5B and to Swiss Domestic Sight Deposits which were reported at CHF477.5B.
Should price action for the GBPCHF remain inside the or breakout above the 1.2245 to 1.2335 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1.2285
Take Profit Zone: 1.2500 – 1.2540
Stop Loss Level: 1.2225
Should price action for the GBPCHF breakdown below 1.2245 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1.2200
Take Profit Zone: 1.1960 – 1.2140
Stop Loss Level: 1.2245
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Explore PaxForex today and learn how our traders earn more pips with every trade and why we remain a top choice forex broker for profitable traders!

The pound fell to March 2017 levels
GBP/USD - Forex News and Fundamental Analysis
On Monday, the pound sterling fell to another low, reaching its lowest level since March 2017. Investors are increasingly concerned that Britain is moving toward a chaotic exit from the European Union without any deal with the bloc.

On Sunday, high-ranking officials said that the government of new Prime Minister Boris Johnson is working on a scenario if the EU does not revise its Brexit deal, and is stepping up preparations for leaving the bloc without a deal on October 31.

In early Monday trading, the pound fell by 0.2% to 1.2363 dollars. The British currency also declined against the euro, reaching 90.01 pence.

Recall that the rate of the British currency dropped by 0.6% to 1.2377 immediately after European Commission President Jean-Claude Juncker told the new British Prime Minister Boris Johnson that the agreement on the terms of the kingdom, reached by the EU with Teresa May, is the only possible and the best.

At the same time, the rate of the US dollar fell slightly to the leading world currencies in anticipation of the meeting of the US Federal Reserve System (FRS), which will be held later this week.

As of Monday morning, the EURUSD rate rose to 1.1128 USD per euro from the previous close of 1.1125 dollars per EUR. The dollar fell against the Japanese yen to 108.59 JPY per dollar from Friday’s close of 108.66 yen. The dollar index fell by 0.01% - to 98 points.

Investors are awaiting a meeting of the American regulator, which will be held July 30-31. According to forecasts, 78.1% of analysts expect a reduction in the base rate by 25 basis points from the current level of 2.25-2.5%, while other experts believe that the decline will be 50 basis points.

Against this background, market participants drew attention to the American fundamental statistics, according to which US GDP growth in the second quarter of this year was about 2.1% in annual terms. Analysts predicted a slowdown in GDP growth to 1.8% from 3.1% in the last quarter.

Since the GDP figures were slightly better than predicted, this had a negative impact on expectations regarding the easing of US financial policy.

Analysis of GOOGLE 29.07.2019

The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.

If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1268.00
• Take Profit Level: 1288.00 (2000 pips)

If the price rebound from resistance level, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1240.00
• Take Profit Level: 1235.00 (500 pips)

USDJPY
A possible long position at the breakout of the level 108.80

GOLD
A possible long position at the breakout of the level 1425.00

USDCHF
A possible short position in the breakdown of the level 0.9910

EURUSD
A possible short position in the breakdown of the level 1.1110