Euro Price Outlook: EUR/USD Snap Back- Trade or Fade?

Euro has rallied scarcely 0.6% opposite a US Dollar given a start of a week with a cost liberation now contrast monthly open insurgency streamer into a tighten of Apr trade. These are a updated targets and cancellation levels that matter on a EUR/USD charts this week with a FOMC NFPs on tap. Review this week’s Strategy Webinar for an in-depth relapse of this setup and more.

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EUR/USD Daily Price Chart

EUR/USD Price Chart - Euro vs US Dollar Daily

Technical Outlook: In my latest EUR/USD Weekly Technical Outlook we remarkable that cost was coming weekly support during 1.1186, “with a mangle subsequent a 2017 pitchfork support around ~1.1130s indispensable to countenance a incomparable mangle of a multi-year uptrend arrangement in Euro.” Price purebred a low during 1.1111 before reversing neatly aloft to tighten behind above pitchfork support final week.

Look for initial support during 1.1186 with near-term bullish cancellation now set to a yearly low-day tighten during 1.1139– a tighten subsequent this threshold is indispensable to symbol resumption of a broader downtrend targeting a reduce together and channel support, now around ~1.11. Confluence daily insurgency stands during 1.1228/39 where a median-line converges on a monthly open and a 38.2% retracement. A crack / tighten above would be indispensable to advise a some-more poignant low is in place.

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EUR/USD 120min Price Chart

EUR/USD Price Chart - Euro vs US Dollar 120minute

Notes: A closer demeanour during cost movement shows Euro contrast monthly open insurgency currently during 1.1228 after breaching above near-term trendline insurgency fluctuating off a monthly highs. Look for depletion forward of 1.1175 IF this dermatitis is legit with a crack above a 61.8% retracement during 1.1242 indispensable to fuel a subsequent leg aloft in price. Subsequent topside objectives during ~1.1280 and a Apr high-day tighten during 1.1299 – design a bigger greeting there IF reached.

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Bottom line: Euro has responded to longer-term slope support and cost needs to reason above a low-day tighten to keep a long-bias viable. From a trade standpoint, a evident risk is for a pullback here though we’re looking for downside depletion while above 1.1175. Keep in mind we’re streamer into a start of a new month with a FOMC and US Non-Farm Payrolls (NFP) on tap- stay nimble here.

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EUR/USD Trader Sentiment

EUR/USD Trader Sentiment - Euro vs US Dollar Price Chart

  • A outline of IG Client Sentiment shows traders are net-long EUR/USD- a ratio stands during +1.27 (55.9% of traders are long) – diseased bearishreading
  • Traders have remained net-short given April 12th; cost has changed 0.5% lower given then
  • The commission of traders net-long is now a lowest given April 17th
  • Long positions are24.0% reduce than yesterday and 6.1% reduce from final week
  • Short positions are31.9% aloft than yesterday and 0.9% reduce from final week
  • We typically take a contrarian perspective to throng sentiment, and a fact traders are net-long suggests Euro prices might continue to fall. Yet traders are reduction net-long than yesterday compared with final week and therecent changes in view advise that a stream EUR/USD cost trend might shortly retreat higher, notwithstanding a fact traders sojourn net-long.

See how shifts in EUR/USD retail positioning are impacting trend- Learn some-more about sentiment!

Relevant Euro / US Economic Data Releases

Euro / US Economic Calendar

Economic Calendarlatest mercantile developments and arriving eventuality risk. Learn some-more about how we Trade a News in a Free Guide!

Active Trade Setups

– Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex

USDMXN: Mexico GDP Contracts, Peso Whipsaws Ahead of Fed

MEXICO GDP USDMXN – TALKING POINTS:

  • USDMXN jumped aloft immediately following Mexico’s GDP information recover that showed a Latin American economy engaged by 0.2 percent in a initial quarter
  • Weaker expansion opposite Mexico’s services zone mostly contributed to a country’s deceleration in mercantile activity, though a Peso is holding adult comparatively good opposite a US Dollar
  • New to forex or looking for additional information to whet your trade skills? Check out this essay that covers Mexican Peso Fundamentals or download a giveaway DailyFX educational beam on How to Trade Economic News

Mexico expelled its 1Q 2019 GDP report this morning that indicated a 0.2 percent diminution from a prior quarter. The title number looks particularly unsatisfactory deliberation that a mercantile contraction widely missed researcher expectations of 0.3 percent expansion while President Andrés Manuel López Obrador approaching an assertive growth rate of 2.0 percent for 2019.

In a World Economic Outlook and Financial Stability Report published progressing this month, however, a IMF slashed Mexico’s mercantile expansion foresee once again to 1.6 percent. Today’s uninspiring information could potentially open a doorway to serve downward revisions.

MEXICO GDP GROWTH PRICE CHART: QUARTERLY TIME FRAME (OCTOBER 2011 THROUGH MARCH 2019)

Mexico Quarterly GDP Growth Price Chart

The diminution in Mexico’s latest GDP news may have been partly due to tension flaring up between the US and Mexico over their tentative USCMA trade deal recently – a ongoing uncertainty, that Mexico’s executive bank formerly highlighted as a risk, has approaching dampened consumer sentiment, business activity and mercantile growth.

Also, a US expelled a possess GDP news final week that illustrated a 1.2 percent dump in imports from Mexico. It now appears that this mostly impacted Mexico’s mercantile expansion – quite once deliberation a US accounts for roughly 80 percent of Mexico’s exports.

In fact, Mexico is now a largest trade partner with a US that could be a outcome of a US-China Trade War. The probability of a new slack in US expenditure and imports from Mexico stability poses a hazard that could materially drag down Mexico’s economy.

In addition, seeing that Mexico is the eleventh largest oil writer in a world, a new diminution in supply negatively impacted a oil exports that also contributed to reduce than approaching GDP.

USDMXN PRICE CHART: 15-MINUTE TIME FRAME (APRIL 28, 2019 TO APRIL 29, 2019)

USDMXN Price Chart Mexican Peso US Dollar After Mexico GDP Report

At first, USDMXN modernized steeply once a information was published though a Mexican Peso has given embellished waste opposite US Dollar. Price movement surrounding today’s GDP news saw a banking span vacillate easily between a 1-standard flaw trade operation of 18.893 to 19.096 distributed from USDMXN overnight pragmatic volatility that was highlighted yesterday.

Greenback gains opposite a Peso could be shrinking due to widespread USD debility voiced by a DXY US Dollar Index slipping scarcely 0.4 percent so distant today. Aside from a Euro mostly boring a US Dollar reduce in response to a Eurozone’s comparatively upbeat GDP report, expectations for a dovish Fed forward of a executive bank’s FOMC assembly tomorrow could be weighing negatively on USD crosses as well.

TRADING RESOURCES

Whether we are a new or gifted trader, DailyFX has mixed resources accessible to assistance you: an indicator for monitoring trader sentiment; quarterly trading forecasts; methodical and educational webinars hold daily; trade guides to assistance we urge trade performance, and even one for those who are new to FX trading.

– Written by Rich Dvorak, and Nancy Pakbaz, CFA

– Follow @RichDvorakFXand @NancyPakbazFXon Twitter

AAPL Stock Soars After Earnings Beat, Looks to Bolster Nasdaq

AAPL, AMD Earnings Talking Points:

  • Apple (AAPL) announced a estimable buyback plan, stability a trend from new quarters
  • Advanced Micro Devices (AMD) narrowly kick expectations though saw a batch cost cocktail 7%
  • Wednesday’s FOMC rate decision will now be a concentration of traders as a executive bank looks to offer discernment on a process trail after clever US GDP in a initial entertain

Stock Market Update: GE, GM Earnings Recap, AAPL and AMD Ahead

Apple delivered clever quarterly formula after Tuesday’s close, avoiding another skip from a FAANG member after Google missed a day prior. Similarly, AMD kick out Wall Street estimates. As a pivotal actor in a semiconductor space, AMD will demeanour to join AAPL in bolstering a Nasdaq after it slumped in Tuesday trade compared to a some-more diversified counterparts.

AAPL Stock Soars After Earnings Beat, Looks to Bolster Nasdaq

AAPL Earnings Recap

After a cut to their gain opinion caused a USDJPY Flash Crash, Apple looks to have righted a ship. Despite reduce forecasts, traders were anxious to see a clever opening and pushed a batch 5% aloft in after-hours trading. Earnings per share review in during $2.46 on $58 billion in income – aloft than a approaching $2.37 EPS on $57.5 billion in income expected.

Apple (AAPL) Stock Price Chart: Daily Time Frame (January – 2019) (Chart 1)

AAPL batch cost after earnings

Outside of a dual title figures, an proclamation to buyback $75 billion value of shares expected buoyed cost – though could be demonstrative of broader mercantile illness. Buybacks have been a indicate of contention in new months, trimming from economists who are heedful of stream batch marketplace valuations to politicians in Washington that doubt their mercantile fairness.

AAPL Stock Soars After Earnings Beat, Looks to Bolster Nasdaq

Either way, one thing is clear. Flush with cash, Apple has shelled out substantial collateral on share repurchases and is now obliged for 12 of a 20 record-quarter buybacks according to information from SP Global. Apple’s actions play into a incomparable thesis of expansion concerns as companies are frequently incompetent to find fit uses of collateral and deposit in themselves, effectively inflating batch valuations. While the ramifications of towering share repurchases might eventually import on financier sentiment, Wednesday’s eventuality will demeanour to some-more evident developments.

Check out a Second Quarter forecasts for a SP 500, Dow Jones, Gold and more.

AMD Earnings Recap

Contributing another clever opening to a season, AMD offering $0.06 EPS on $1.27 billion in income – compared to researcher expectations of $0.05 and $1.26 billion respectively. Although narrow, a kick was accompanied by a convene in AMD’s share price. Immediately following a release, AMD jumped 7% though remained within a pragmatic cost range – probing trendline insurgency around $29.25.

AMD Stock Price Chart: Daily Time Frame (December 2018 – Apr 2019) (Chart 2)

AMD batch cost draft earnings

Check out a Technical Forecast for a SP 500, Dow Jones, DAX 30, and FTSE 100.

With a risk of an deplorable news from AAPL in a rearview, traders will now wait Wednesday’s FOMC rate decision. Ahead of a event, check out a accumulation US Dollar trade set ups and perspective a Economic Calendar for all arriving events in a week ahead.

–Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

Read more: USDCAD’s Failed Breakout Attempt Hinges on Next Crude Oil Price Move

DailyFX forecasts on a accumulation of currencies such as a US Dollar or the Euro are accessible from a DailyFX Trading Guides page. If you’re looking to urge your trade approach, check out Traits of Successful Traders. And if you’re looking for an rudimentary authority to a Forex market, check out a New to FX Guide.

Bitfinex reportedly formulation an IEO, IOTA partners travel physique of Austin, HTC to recover new blockchain phone

Bitfinex is Reportedly Planning an IEO

Information from several sources in a crypto Twitter village suggests that Bitfinex skeleton to lift $1 billion around an Initial Exchange Offering (IEO). It has also been rumored that Tether (USDT) will be a means of remuneration for appearance in a IEO.

Twitter user @DoveyWan pennyless a news with a following tweet:

Dovey Wan, a initial partner during Primitive Ventures, combined that she got acknowledgment of a news from Bitfinex equity holders. She also deliberate a IEO a smart idea given a Bitfinex IEO that accepts Tether will revoke a Tether present supply.

Another member of a community, @Zirui common a same information in a following tweets:

It is critical to note that Bitfinex is nonetheless to make any central statements per a IEO.

IOTA Partners Transportation Body of Austin, Texas

The IOTA plan has partnered ATX Transportation, a central travel physique of Austin Texas, with a design of innovating a transportation attention in a city.

The proclamation was done during a 29th Apr event orderly by both parties during a University of Texas (UT). Dominik Schiener, Co-Founder of IOTA, was in assemblage as a guest speaker.

ATX sensitive a supporters on Twitter about a partnership as good as a eventuality hold during UT:

We’re partnering with a nonprofit to move a destiny of mobility to Austin. Learn all about it during a special eventuality on Monday, Apr 29, during 5 p.m. on a UT campus. ATX and IOTA leaders will make an announcement, followed by a QA. More during bit.ly/atxiota

Neither IOTA nor ATX have supposing serve sum on a partnership.

HTC to Release Another Blockchain Phone

In a bid to browbeat a yet-to-boom blockchain phone market, HTC has denounced skeleton to recover a second blockchain phone. Phil Chen, a decentralized arch officer, revealed a information while vocalization during an investment forum in Tapei on 26th April. Chen also done discuss of a nascent blockchain industry’s good blurb potential.

According to Chen, a new blockchain phone will not be too opposite from Exodus 1, a wiring company’s initial blockchain phone. The Exodus 1— launched in a 4th entertain of 2018— supports decentralized apps and cryptocurrency wallets.

HTC’s second blockchain phone is approaching to be expelled before a finish of 2019.

Read More:

PayPal throws a shawl into a blockchain ring

Blockchain and crypto adoption on a arise in Asia

Tezos moves closer to zk-SNARKs custom upgrade

The above is to be deliberate opinion and not investment recommendation in any way, as an unprejudiced media, no one interferes with a Editorial calm of CryptoInsider.com, writers have leisure to select their possess direction, members of Crypto Insider do not attend in trades formed on content.

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Ptarmigan becomes a fourth blurb Lightning Network client

On Apr 30th 2019, a Japanese developer organisation Nayuta has announced a mainnet launch of Ptarmigan, a fourth blurb custom doing of a Lightning Network. In a two-page press release it’s mentioned that a program follows a BOLT (Basis of Lightning Technology) specifications, is focused on building a light and permitted client. It’s also settled from a second divide that a stream chronicle is still cart and “reckless” (a warning tag that started out as critique though was embraced by a village of early adopters).

Nevertheless, Ptarmigan aims to turn a “small footprint” Lightning Network software, that is means to run on hardware as diseased and affordable as a Raspberry Pi Zero (whose categorical house costs usually $5). In this regard, a Japanese association invites users, developers and reviewers by scheming a program picture that can be simply deployed on Microsoft Azure.

Furthermore, they are charity 100 play in sell for a cost of parts, so that early adopters can bond Arduino to a Raspberry Pi Zero that runs a Ptarmigan software. Shipments of these components is set to take place in early July, and those meddlesome can apply on a Nayuta Lightning shop.

Lightning Network applications (LApps), growth program that eases a routine of formulating new such applications, as good as crypto sell use and token remuneration program are also in works. More sum can be found on a Ptarmigan GitHub repository, and a demo video has been expelled to showcase a morality and levity of a client.

Ptarmigan and other mainnet Lightning clients

So far, a other 3 Lightning Network clients built on a BOLT specifications are Lightning Labs’ lnd implementation, Blockstream‘s c-lightning, and ACINQ’s eclair. All of them are open-sourced, concentration on specific facilities and characteristics of Lightning development, and are built regulating opposite programming languages (Go, C, and Scala respectively).

Ptarmigan is singular in a margin interjection to a concentration on low-power hardware. It’s not only about facilities and applications, though about building a kind of program that even a $5 mechanism can run. In many ways, it becomes a approach of creation a Lightning Network permitted to a masses.

Being a youngest of a 4 protocols expelled so far, Ptarmigan is also approaching to be a buggiest and in need of many testing. Correspondingly, a group during Nayuta has done certain to emanate ways for a village to get concerned and urge a software. While a roadmap is still misleading and we have nonetheless to see any of a LApps vaguely mentioned in a initial press release, it’s good to have another doing that tries to solve existent problems in an open way, so that growth and mainstream seductiveness accept a boost.

Nayuta’s launch also proves that a Lightning Network is a record that program developers worldwide find interesting. It adds adult to a certification of a second covering protocol, and gives village members another reason to feel certain that a growth is on a right approach for larger adoption.

Image: DuckyDeathly on Weasyl

Read more:

Running a Bitcoin node in 2019: apropos a first-class citizen

Interview: Blockstream’s Allen Piscitello on Liquid and Lightning

Interview: Pierre Rochard on a Node Launcher, Lightning Network, and Bitcoin

 

The above is to be deliberate opinion and not investment recommendation in any way, as an unprejudiced media, no one interferes with a Editorial calm of CryptoInsider.com, writers have leisure to select their possess direction, members of Crypto Insider do not attend in trades formed on content.

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Gold Edges Higher As Growth Concerns Resurface

Gold prices edged aloft on Tuesday as diseased Chinese information rekindled financier concerns over negligence tellurian growth.

Spot bullion rose $5.20 or 0.42 percent to $1,283.93 per unit while U.S. bullion futures were adult 0.32 percent during $1,285.55 an ounce.

China’s central Purchasing Managers’ Index (PMI) for production suddenly fell to 50.1 in Apr from 50.5 in March, while a Caixin-Markit China PMI slipped to 50.2 opposite a 50.8 reading in a prior month. Growth in China’s services zone also slowed in a month, an central consult showed.

A raft of Eurozone information valid to be a churned bag, with Germany’s stagnation stability to decrease in Apr while a jobless figure forsaken some-more than double a gait expected. Eurozone GDP grew 0.4 percent sequentially in a 3 months to Mar 2019, violence forecasts for 0.3 percent growth.

The forward-looking GfK consumer view for Germany hold steady, upheld by strong alleviation in income expectations and a inclination to buy.