DOHAR MARDOHAR | Horas17
Forex News
  • New Zealand Rate Decision On Tap For Wednesday

    The Reserve Bank of New Zealand will wrap up its monetary policy meeting on Wednesday and then announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity.

    The RBNZ is widely expected to boost its Official Cash Rate by 50 basis points, from 1.50 percent to 2.00 percent.

    Singapore will release final Q1 figures for gross domestic product, with forecasts suggesting an increase of 0.8 percent on quarter and 3.7 percent on year - slowing from 2.3 percent on quarter and 6.1 percent on year in the previous three months. Singapore also will see Q1 data for current account; in the previous three months, the surplus was SGD25.72 billion.

    Australia will provide Q1 numbers for construction work done, with forecasts suggesting an increase of 1.0 percent on quarter following the 0.4 percent contraction in the previous three months.

    Japan will see final March figures for its leading and coincident economic indexes; in February, their scores were 100.1 and 96.8, respectively.


    The material has been provided by InstaForex Company - www.instaforex.com
  • South Korea Business Confidence Index Slips In May - BoK

    Business conditions in South Korea deteriorated slightly in May, the Bank of Korea said on Wednesday with a Business Survey Index score of 86 - down from 87 in April. The outlook also fell one point, from 88 to 87.

    In the non-manufacturing sector, the BSI on business conditions for May was 86, up one point from the previous month. The outlook for the following month also rose by one point to 86.

    The Economic Sentiment Index (ESI) - a composite of the BSI and the CSI (Consumer Survey Index) - for May was 106.7, up 1.0 point from April.


    The material has been provided by InstaForex Company - www.instaforex.com
  • *South Korea Business Confidence Index 86.0 In May Vs. 87.0 In April- BoK

    South Korea Business Confidence Index 86.0 In May Vs. 87.0 In April- BoK


    The material has been provided by InstaForex Company - www.instaforex.com
Company News
  • August - No market holidays month Trading hours on August

    August in international financial markets is a month of uninterrupted trading. The minimum number of holidays and weekends, with ones only in certain countries and on some sites, creates a stable and predictable trading environment. However, August is historically a month full of geopolitical events and even shocks.

    Fateful meetings of state leaders, the roll-out and end of world conflicts, OPEC meetings, and even the early effects of the Bretton Woods agreement - all this falls on the last month of summer. In this regard, it is worth focusing not on certain trading breaks but on the news calendar, which is packed with important releases in August. If you are among the first to price in these events on time, your profit will be pretty solid.

    As for the trading schedule for August, it should be noted that the Canadian and Swiss stock exchanges will be closed for trading on August 1 due to national holidays. The Tokyo Stock Exchange will take a 24-hour break on August 11 as Japan celebrates Mountain Day. August 29 will be a non-trading day for the London Stock Exchange on the occasion of the so-called "Summer Bank Holiday".

    Such trading instruments as currency pairs, CFDs, stock indices, and commodity options will be available for trading on all weekdays in August. In international trade, such periods are called No market holidays months.

Forex Analysis
  • Ethereum touched $2000 but failed to gain a foothold: what to expect ahead?

    Ethereum reached the important psychological target of $2000 thanks to the successful preparation of the main network for the PoS protocol. At the moment, Ethereum reached the level of $2000, after which it began to decline due to increased selling pressure. The situation of the main altcoin is similar to the upward movement of Bitcoin. Market leaders have reached important milestones, but expectedly failed to overcome them due to a number of factors. Bitcoin lacked fundamental reasons to maintain an upward direction, and this partly negatively affected the ether quotes.

    analytics62fa16c13dd5b.jpg

    The correlation of Bitcoin and Ethereum remains at a high level, despite a significant increase in the investment attractiveness of the altcoin. The level of BTC dominance is still above 40, and therefore the influence of the main cryptocurrency on the rest of the market remains significant. Given this, we can conclude that the dependence of Ethereum on Bitcoin and the failure of the latter to storm $25k became the reasons for the decline in the cryptocurrency market. However, the co-dependence of ETH and BTC only partly contributed to the decline of Ethereum.

    analytics62fa16d07990f.jpg

    Ethereum began to decline due to excessive overbuying. Even though Ethereum has fundamental reasons for growth and the attention of institutionalists, the price of the asset grew faster than new unique addresses appeared. Large investors masked the problem of declining trading activity by pouring large amounts of funds into ETH. In addition, Ethereum has become the main asset for short-term investors. This negatively affected the general state of the cryptocurrency, as the ETH market was filled with large amounts of borrowed funds. All these factors led to the fact that Ethereum was overbought and needed a healing correction.

    analytics62fa16eab9ad8.jpg

    It is this process that we observe on the daily chart of the cryptocurrency. ETH/USD successfully reached the $2000 level but was expectedly stopped by a large cluster of sell orders and broke even. The failed breakout of $2000 was the catalyst for increasing the pace of the altcoin's correction. As a result, the relative strength index began to decline, left the overbought zone, and is at the level of 60 as of this writing. The stochastic oscillator has formed a bearish crossover and started a sharp downward peak. The metric is also around the 60 mark. The MACD indicator is moving flat, but there are all prerequisites for the formation of a bearish crossover, which will become a negative factor for the market.

    analytics62fa16febdf95.jpg

    Ethereum has a fundamental positive that can facilitate a corrective movement. Despite this, the main metrics have just begun to decline to acceptable levels, and therefore there is every reason to believe that the correction may drag on for a whole week. The main target for the downward movement of the cryptocurrency will be the level of $1750–$1800. There is a strong support zone and a significant cluster of buy orders here. Given the bullish sentiment of investors, there is every reason to believe that Ethereum will complete the corrective movement near this area, after which it will move on to consolidation.

    analytics62fa1768b2694.jpg

    The Ethereum Foundation team also understands the local overheating of the asset and is gradually launching positive news into the market that supports the positive mood of investors. The final date for the merger of ETH 1.0 and ETH 2.0 is September 15–16. This suggests that, fundamentally, Ethereum will be completely safe for at least another month. With this in mind, there is no doubt that the current correction is of a healing and local nature.

    The material has been provided by InstaForex Company - www.instaforex.com
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