EURJPY Courts With Key Support Near the 120.17 Level

Azeez Mustapha
31 January 2020 | Updated: 31 January 2020

EURJPY Price Analysis – January 31

The best tone surrounding the European currency is to keep the rebound in EURJPY to the 120.40 regions, not far from where the initial supply barrier is at the 120.17 level.

Key Levels
Resistance Levels: 124.31, 123.37, 122.87
Support Levels: 120.17, 119.99, 115.83

EURJPY Long term Trend: Ranging

In the larger structure, EURJPY remains fairly in the decreasing pattern established from 127.52 (high). The advance from level 115.83 is seen as a corrective movement. A solid resistance can be observed in the decrease in resistance to contain the positive side.

However, the sustained rupture of the horizontal resistance may have a greater bullish implication and approach the key resistance of 127.52 below.

EURJPY Short term Trend: Bearish

EURJPY remains in consolidation from the 119.66 level and intraday bias remains neutral initially and the advance may be contained by a resistance lower than 120.67 level to mark the beginning of another decline.

The corrective advance from the 115.83 level must be completed at the 122.87 level, in the bearish pattern scenario of the daily RSI, a 119.66 level break can approach the break at the 115.83 low level. However, the breakdown of level 121.47 can dampen this bearish view and alter attention again to level 122.87.

Instrument: EURJPY
Order: Sell
Entry price: 120.67
Stop: 121.47
Target: 120.17

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Coronavirus Outbreak Has Delivered a Shock to S&P 500 Stock Numbers

Azeez Mustapha
31 January 2020 | Updated: 31 January 2020

S&P 500 Price Analysis – January 31

The number of S&P 500 stocks that traded above their 5 and 13 moving average on Friday fell to the lowest level since October. Markets collapse on Friday as the coronavirus spreads, for the moment, easing bullish sentiment and fuels uncertainty in a period of high valuations.

Key Levels
Resistance Levels: 3400, 3350, 3300
Support Levels: 3200, 3157, 3026

S&P 500 Long term Trend: Ranging

The SP 500 initially gapped lower to kick off the week, rallied to fill the gap, and then broke back down. Because of this, it looks as if the S&P 500 is finally ready to get a bit of a pullback.

A significant amount of support near the 3200 levels exists, where buyers can lean on the anticipated bulls. If that level breaks down, then it’s likely that we go down to the 3100 levels after that.

S&P 500 Short term Trend: Ranging

On the 4-hour time frame, bull positions exist past the level of 3263.00 with targets on the level at 3300.00 & 3316.00 in extension.

Meanwhile, trending beneath the level of 3263.00, more short positions exist for further downside with the level of 3227.00 & 3200.00 as targets.

Instrument: S&P 500
Order: Sell
Entry price: 3263
Stop: 3300
Target: 3200

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FTSE100 (UKX) holds at lower levels, Possible Bullish Double Bottom Likely

Azeez Mustapha
31 January 2020 | Updated: 31 January 2020

Resistance Level: 7,500, 7, 600, 7,700
Support Level: 7,300, 7,200, 7,100

FTSE 100 (UKX) Long-term Trend: Ranging
Yesterday, the market fell to a low of 7,833 and  the stock continues its downward move to the low of 7,280. This has been the scenario since January 17. The bottom line is that the price will continue to fall until it reaches the support of 7,100. From the chart, the stock prices are pointing to the bottom of the chart.

Each time the market falls to the lower price range, the upward move will begin to complete the range-bound movement. Eagerly, range-bound traders can take advantage of the fluctuations in price. As the stock falls at the lower price range, a long trade should be initiated. Then you exit your long trades at the upper price range. Similarly, at the upper price range, you should initiate short trade. All your short trades should be exited near the lower price range.

UKX - Daily Chart

Daily Chart Indicators Reading:
FTSE 100 stock is trading in the oversold region of the market. The stock is below 20% range of the daily stochastic. In the oversold region, sellers will not be available to continue to push the stock downward. Rather, buyers will emerge to push prices upwards. At the moment, the 21-day SMA and the 50-day SMA are sloping horizontally indicating the range-bound movement.

FTSE 100 (UKX) Medium-term Trend: Bearish
On the 4-hour chart, the price action formed a bearish double top which makes the stock fall. The price will fall, retest and continue the downward move. The selling pressure is likely to continue.

UKX - 4 Hour Chart

4-hour Chart Indicators Reading
FTSE 100 stock has fallen and reached level 26 of the Relative Strength Index period 14. This indicates that the stock has reached the oversold region. Buyers likely are to emerge.

General Outlook for FTSE 100 (UK)
FTSE 100 stock is trading at the oversold region of the market. Traders are to take advantage to initiate long trades. Presently, the stock is fluctuating between a confined range. All long trades to be closed at the upper price range.

FTSE 100 (UKX) Trade Signal

Instrument: FTSE 100 (UKX)

Order: Buy Limit

Entry price: 7,100

Stop: 7,000

Target: 7,600

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Cybercriminals Exploit Kobe Bryant’s Demise

Azeez Mustapha
31 January 2020 | Updated: 31 January 2020

Some opportunistic cybercriminals have begun illegally exploiting the death of world-renowned basketball legend Kobe Bryant, who passed away on the 26th of January, by embedding bugs on the internet for those looking for mementos of the superstar.

Microsoft Security Intelligence alerted through a tweet on the 31st of January that hackers were embedding malicious HTML codes that contain a crypto-jacking command in desktop wallpapers of the NBA VIP.

Crypto-jacking is an illegal practice where hackers maliciously hijack the computer systems of unsuspecting victims and use their processing power to mine cryptocurrencies remotely.

Following the tragic helicopter crash which claimed the lives of all the passengers on board including Kobe, his 13-year old daughter Gianna, a college basketball coach, the pilot, a college baseball coach with his daughter and wife, and another friend to Kobe’s and her son, there has been a significant increase in interest from both fans and the public.

Sadly, cybercriminals saw this as a good opportunity to perpetuate their illegal practice. The more people search for images and information on the deceased star, the more victims the hackers got to take advantage of.

The Microsoft crew discovered the malicious file, Trojan: HTML/Brocoiner.N!lib with its Defender Virus Protection application. The crypto-jacking command was masked as a desktop image wallpaper of Kobe. Also, it was discovered that the website hosting the coin miner was blocked by the application.

Well-Intentioned or Opportunistic?
Kobe’s demise caused an outflow of grief from social media, notably from the founder of Tron, Justin Sun. Kobe was an ardent believer of cryptocurrency (Tron in particular) and recently spoke about the prospects of blockchain alongside Sun at the niTROn conference in 2019.

Some days ago, Sun declared that this year’s niTROn conference would be held in respect to the late superstar. However, he came under heavy criticism from social media with many describing his action as opportunistic and disgraceful.

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Bitcoin (BTC) Retests Broken Key Levels, Likely to Move Soon

Azeez Mustapha
31 January 2020 | Updated: 31 January 2020

Key Resistance Zones: $10,000, $11,000, $12,000
Key Support Zones: $7, 000, $6, 000, $5,000

BTC/USD Long-term Trend: Bullish
The bulls have held on the price above the $9,000 support for the past four days. Nonetheless, the coin has been fluctuating below the $9,600 resistance. The coin has fluctuated and fallen to a low of $9,200.It is expected that BTC finds support at $9,200 or $9,000 and resumes the upward move. It will portend negatively if the bears break below the $9,000 support level and the price drops to $8,800. On the other side of the coin, if the support holds either at $9,000 or $9,200, the upward move will resume.

BTC/USD - Daily Chart

Daily Chart Indicators Reading:
From the stochastic indicator, Bitcoin is now trading in the overbought region above the 80% range. This implies that at the overbought region the bulls will not be available to push BTC upward. In other words, sellers will be available to push BTC downward. Presently, the coin is under bear’s control, as Bitcoin depreciates. Meanwhile, the SMAs are still pointing northward indicating the uptrend.

BTC/USD Medium-term Trend: Bullish
On the 4-hour chart, the upward move terminated at the $9,500 price level. After the bulls were resisted, the downward move ensues. The price drops to the support of $9,200. It is unclear whether the downward move will persist. However, if the selling pressure persists the market will fall to $9,000.

BTC/USD - 4 Hour Chart

4-hour Chart Indicators Reading
The 12-day SMA is currently holding as support for Bitcoin. The market will further depreciate if price breaks below the 12-day SMA. Meanwhile, the Relative Strength Index period 14 level 55 indicates that Bitcoin is in the uptrend zone. Bitcoin can rise again.

General Outlook for Bitcoin (BTC)
Bitcoin retraces to a low of $9,286 as the market faces another key resistance. Nonetheless, the current price level is the historical price level of July. In July, the market was consolidating at that price level before selling pressure resumes. At the moment, we expect an upward move to continue.

BTC Trade Signal
Instrument: BTC/USD
Order: Buy
Entry price: $9,352
Stop: $9,000
Target: $10,300

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Bitcoin Price Analysis – Bitcoin is Plotting a Pull Back After Getting Overbought, Can Bull Keep Momentum in Shape?

Avatar
31 January 2020 | Updated: 31 January 2020

 

• Bitcoin drops to $9300 after seeing a -3% discount overnight.
• The bullish sentiment may suspend for a while if Bitcoin breaks $9200 support.

Following a -3% losses overnight, Bitcoin has now dropped to around $9300 after testing $9555 as weekly high. This price cut pulled Bitcoin beneath the trend line on the hourly chart. It may lead to another correction if the price further drops. However, buyers are still present. So, there’s hope for more upswing if they can reinforce stronger.

Key resistance levels: $9700, $10000
Key support levels: $9000, $8600

Bitcoin (BTC) Price Analysis: 4H Chart – Bullish

After dropping sharply to $9100 yesterday, Bitcoin got bought back to $9500 before marking a daily high at $9555. The bears have reacted again with a discount to $9300. Bitcoin’s price is technically overbought on the mid-term. We may experience a short move sooner than later.

BTCUSD, Hourly Chart – January 31

In anticipation of a bearish move, we may need to keep an eye on the immediate white support are ($9200) that BTC is targeting at the moment. A colossal drop could send price to $9000 and $8600, right on the wedge’s support before bouncing back. Inversely, Bitcoin may keep growing towards the wedge’s resistance $9700 and $10000 if the $9555 resistance breaks.

Bitcoin (BTC) Price Analysis: Hourly Chart – Bullish

Bitcoin has dropped beneath the orange rising trend line that was providing support for the market since January 26. This break could become devastating if BTC pulls beyond the $9250, though the key breakout level lies at $9100 – where Bitcoin’s price was rejected yesterday. Next to this level lies psychological support of $9000 – right in the second white zone.

BTCUSD, Hourly Chart – January 31

In case Bitcoin dips and finds support at these mentioned price levels, we should expect a quick bounce to $9555. But if the current pullback turns false, Bitcoin would continue to advance higher after reclaiming the previous resistance. The next buying target would be $9700 and $9800. From a technical standpoint, Bitcoin is overbought and ready to correct downward.

BITCOIN SELL ORDER

Sell: $9394
TP: $9104 / $9034
SL: $9614

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Michael Fasogbon

Michael Fasogbon is a professional Forex trader and cryptocurrency technical analyst with over five years of trading experience. Years back, he became passionate about blockchain technology and cryptocurrency through his sister and has since been following the market wave.

FTSE100 (UKX) Continues Its Fluctuations, Amidst Downtrend Move

Azeez Mustapha
30 January 2020 | Updated: 30 January 2020

Resistance Level: 7,500, 7, 600, 7,700
Support Level: 7,300, 7,200, 7,100

FTSE 100 (UKX) Long-term Trend: Ranging
FTSE 100 stock is gradually falling after testing the resistance at 7,700. The price has fallen to a low of 7,383. Undoubtedly, the price fall will continue to the low of 7,100. It has been observed that the usual trend of this stock is that in all the months, the price fall usually ends at the support of 7,100. Then an upward move will begin at the support.

Investment into FTSE 100 stock can be done when the price is at the support level. In this case, the price fell at the support on more than four occasions. Meanwhile, the price is still fluctuating within the confined price range.

UKX - Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping horizontally indicating that the market is still in a range-bound movement. The stock respects the price range of the market. The MACD Line and signal line are above the zero lines which indicates buy signal. The price action and the MACD don’t seem to agree. The bands of MACD are bending below the zero lines indicating a trend change.

FTSE 100 (UKX) Medium-term Trend: Bearish
On the 4-hour chart, the price made a retest at 7,500 and resumes the downward move. If the downward move continues the price will find support at 7,200. On the other hand, if the price finds support at the trend line, the stock will bounce and resume an upward move.

UKX - 4 Hour Chart

4-hour Chart Indicators Reading
FTSE 100 stock has fallen and it is approaching level 33 of the Relative Strength Index period 14. Assuming the price falls below level 30, then we will talk about the price reaching the oversold region of the market.

General Outlook for FTSE 100 (UK)
FTSE 100 stock is still in a range-bound movement but the price is in a downward move. We are anticipating that the price will fall to the low of 7,100 before the resumption of an upward move.

FTSE 100 (UKX)Trade Signal
Instrument: FTSE 100 (UKX)
Order: No buy or sell signal.
N/B. The RSI is yet to fall below level 30 at the time of writing.

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AUDUSD Renews Bears, Extend Slide Toward 0.6700 Level

Azeez Mustapha
30 January 2020 | Updated: 30 January 2020

AUDUSD Price Analysis – January 30

AUDUSD currency pair further declines during the American session on Thursday as the bitter market mood is affecting the sensitive Australian dollar. As of this writing, the pair was trading at its lowest level since late September at 0.6712, as it lost 0.6% daily.

Key Levels
Resistance Levels: 0.7085, 0.6933, 0.6827
Support Levels: 0.6700, 0.6670, 0.6620

AUDUSD Long term Trend: Bearish

Expectations for a corrective recovery in the Australian dollar for a higher extension was incorrect, as the Australian dollar fell to 0.6700 level before recovering. Momentum indicators are mostly neutral and the recent weakness in the Australian dollar appears to have stabilized.

We notice restricted downside risks and anticipate the Aussie to trade in a range like a manner for the time being, probably between 0.6723 and 0.6769 levels. However, the Australian dollar has not been out of sight just yet and the move past the 0.6827 level may indicate that the current weakness has stabilized.

AUDUSD Short term Trend: Bearish

The Australian dollar plunged versus the US dollar after brief consolidations and bias returned during the day down. The 0.7031 level decline is anticipated to continue the retest of the next 0.6670 level.

On the upside, above the 0.6769 level, minor resistance might change the daily bias neutral first. But the recovery may be contained below the support level of 0.6850, and the resistance has turned to bring another drop.

Instrument: AUDUSD
Order: Sell
Entry price: 0.6723
Stop: 0.6827
Target: 0.6670

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WTI Stays in Red as the Price Drops Further Near $52.00 Level

Azeez Mustapha
30 January 2020 | Updated: 30 January 2020

USDWTI Price Analysis – January 30

Recent headlines dip out to support recovery in crude oil prices. At the hour of composing, the West Texas Intermediate barrel was trending at $ 52.22 level, erasing 1.45% daily. WTI crude prices plunged mainly due to concerns about the Coronavirus, and the Energy Information Administration (EIA) said that US oil stocks rose more than expected last week.

Key Levels
Resistance Levels: $ 63.04, $ 58.70, $ 54.00
Support Levels: $ 52.05, $ 51.44, $ 50.64

USDWTI Long term Trend: Bearish

Currently, WTI crude is down 0.95% to $ 51.69 level and a breach of $ 51.44 level (Jan 30 low) aims at $ 50.64 level (October 3, 2019, bottom). On the other hand, the next bullish barrier is located at $ 54.35 level (Jan. 29 high), lending at $ 57.40 and then $ 58.70 on attempting to cross the moving average 5 and 13.

However, extended rallying cannot be ruled out before sellers resume the decline, as daily indicators are oversold, but they lack a clearer signal at the moment.

USDWTI Short term Trend: Bearish

Technically, the WTI crude oil price established double bottom support around $52.05 level, and closing of 4-hour candles past this level can help drive the bullish trend in the WTI crude oil.

On the higher side, Oil may find resistance around the level at $54.00 while bearish breakout opens further room for selling until $50.64. The contract holds in red for the second day and is on track to fully retrace brief recovery to ($52.14/$54.35) levels.

Instrument: USDWTI
Order: Sell
Entry price: $ 52.05
Stop: $ 54.00
Target: $ 50.64

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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Extradition Battle Over Suspected Cryptocurrency Launderer

Azeez Mustapha
30 January 2020 | Updated: 30 January 2020

French authorities have arraigned the ex-administrator of recently-shuttered cryptocurrency exchange BTC-e and Russian citizen Alexander Vinnik.

According to a report by Bloomberg on the 28th of January, Vinnik’s attorney confirmed that he will stay in France to face the indictment against him following his extradition from Greece. An unidentified official from the prosecutor’s office disclosed that Vinnik was facing multiple charges including extortion, aggravated money laundering, and conspiracy.

The Legal Back and Forth
One of the accused’s attorneys told reporters that after his trial in France is concluded, he will be ferried back to Greece where he will be subsequently extradited to the US. After the US litigation is concluded, he will, once again, be carried to his home country, Russia.

The French investigation is still in play but no litigation has been called yet. Vinnik’s French attorney, Ariane Zimra claims that nothing is linking the prosecutors’ claims with her client.

The defendant is reported to be in a hospital after embarking on a 40-day hunger strike against his arrest. His attorney also filed for injustice some days ago, based on the infringement of his client’s rights.

Another of Vinnik’s attorney stated that his client, who he labeled a “blockchain genius, ” was being oppressed by the authorities who see him as an annoyance to the sovereignty of the financial sector.

A Recap of Vinnik’s Litigation
Vinnik is suspected to be a party to the hack involving Bitcoin exchange Mt. Gox as the stolen funds (about 300k BTC) were discovered to not only have been laundered through BTC-e but were also found in his wallet upon examination.

Based on these suspicions, the administrator of Mt. Gox reached out to the United States DOJ requesting data about him.

The suspect was originally arraigned by the US in July 2017. A Greek Court later called for his extradition to Russia in September 2018. In July 2018, however, authorities re-ruled for the suspect to be extradited to France, where he is presently held.

Vinnik’s extradition has become something of a diplomatic struggle with several countries, especially his home country Russia, contending to procure his extradition.

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  • The Lowest Trading Costs
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  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
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$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
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$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Azeez Mustapha

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.