Kyber Network Declares Katalyst Protocol Upgrade Launch Date

Kyber Network Declares Katalyst Protocol Upgrade Launch Date

The on-chain liquidity protocol, Kyber Network, set July 7, 2020, as the date for its upgrade to the Katalyst protocol.

On Monday, June 29th, Kyber announced that it was finally setting a date for a major update to its Katalyst champion product. The update will occur on Tuesday, July 7, 2020, at exactly 7 a.m. GMT. It also revealed that it would introduce a new feature called KyberDAO. KyberDAO is “a collective forum for supporting decentralized protocol management,” the press release says.

Kyber specializes in token exchanges. It combines liquidity from various reserves and allows KNK owners to exchange tokens between popular exchange sites and wallets. With this update, Kyber expects to receive more than 72,000 new KNC holders. All KNC owners can contribute to the growth of the network by putting their tokens.

KNC owners may also function as protocol regulators, add value to and vote for changes to parameters, and proposed reforms. Participants will receive an Ethereum (ETH) reward.

In addition to KNC holders, the message states that the update will affect other Kyber stakeholders, such as DApps / Traders, liquidity reserves, and KyberDAO pool operators.

Kyber ​​has publicly set out a schedule for the various stages of the upgrade. The company says it may suspend trading while the update is in progress.
Upcoming Months Schedule
Looking ahead, Luu also said in the news that Kyber will concentrate on providing further information about the benefits that come with the upgrade to Katalyst.

“We also plan to increase the number of stakeholder options available for KNC holders. This includes integrating more crypto wallets on their DApp browsers that allow easy access to Kyber.org, as well as embedding more third-party Staking Pools that can help vote on behalf of KNC holders and enable them to receive rewards.

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USDCHF Trades Lower Beneath 0.9500 After Posting Major Reversal Bias

USDCHF Trades Lower Beneath 0.9500 After Posting Major Reversal Bias

USDCHF Price Analysis – June 30

Although the USDCHF gained more than 30 pips in the prior session on broad-based USD strength and the bullish market mood. It has lost its momentum, however, and returned to trade beneath the level of 0.9500, where it was down 0.35% on the day. As attention turns to Powell’s statement, the US Dollar Index is up 0.12 percent, holding the selling bias intact.

Key Levels
Resistance Levels: 1.0027, 0.9766, 0.9550
Support Levels: 0.9440, 0.9370, 0.9181
USDCHF Long term Trend: Ranging
Within the wider context, the decrease from level 1.0231 is perceived as the third step of the trend from level 1.0342. Having reached 0.9242 main support (low) level, it should have finished at 0.9181 level.

The breach of level 0.9902 may expand the recovery from level 0.9181 to resistance level 1.0027. After all, medium to long-term trade in ranges is inclined to maintain for some longer between 0.9181/1.0231 levels.
USDCHF Short term Trend: Ranging
For the moment, the intraday bias in USDCHF is still neutral. Lower than 0.9440 minor support level on the downside may bring 0.9370 low-level retests. The break may restart the entire decline from 0.9902 and aim 100 percent projection from 0.9902 to 0.9500 at 0.9242 levels.

On the positive, a steady breach of 0.9550 level will instead restart the recovery from level 0.9370. In this scenario, it might look to yet another rally (now at 0.9600 level).

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S&P 500 Recovery Limited Beneath 3078.3 Level to Maintain Fresh Downside Bias

S&P 500 Recovery Limited Beneath 3078.3 Level to Maintain Fresh Downside Bias

S&P 500 Price Analysis – June 30

The S&P 500 potentially stays beneath 3078.3 level to hold the initial risk lower for a leap beneath its moving average of 13 during its wider corrective period. The S&P 500’s most recent high at 3233 levels around the region corresponded to the moment when COVID-19 incidents shot up again.

Key Levels
Resistance Levels: 3250, 3139, 3078
Support levels: 3050, 3000, 2953.4
S&P 500 Long term Trend: Bullish
The daily bias holds beneath the level at 3078.3 to proceed to potentially cap with support initially seen at level 3050, then the ascending trendline at level 3039. A close rear beneath here may add additional volume to the corrective view with support next seen at 3000 levels beyond the 2953 level.

It is appropriate to see a further price complete below the support level at 2953 to increase the possibility of further weakness with support at level 2900. The perfect path is for a 2800-level eventual test of the 38.2 percent retraction of the entire rally from April.
S&P 500 Short term Trend: Ranging
On the 4-hour time frame, the technical indicator confirms that some support awaits the S&P 500 at around 3050 level, which is the convergence of the 5 and 13 moving average. Stronger support awaits at level 3000, which is the meeting point for the horizontal line and the ascending trendline.

However, within the short-term oscillators, a contradictory scene is painted which reflects the optimism of further progress, while the RSI soars past the 50 levels after a bounce. On the upside, initial resistance might emerge at moving average 5 and, should such obstacles be overcome, an area of 3139-level highs may come into view.

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Italy 40 (ITA40) Resumes Uptrend, Battles Resistance at Level 19600

Italy 40 (ITA40) Resumes Uptrend, Battles Resistance at Level 19600

Key Resistance Zones: 24000, 25000, 26000
Key Support Zones: 22000, 21000, 20000

Italy 40 (ITA40) Long-term Trend: Bullish
The index is rising and in an uptrend. A correction candle body tested the Fibonacci 0.50 retracement level. This indicates that the index will rise and reach the 2.0 extension level. The trend is likely to continue after the target price.

ITA40 – Daily Chart

Daily Chart Indicators Reading:

The 21-day SMA and 50-day SMA are sloping upward indicating the uptrend. The market has risen to level 53 of the Relative Strength Index. It indicates that the index is in the uptrend zone. It is also above the centerline 50.

Italy 40 (ITA40) Medium-term Trend: Ranging
On the 4- hour chart, the index is a sideways move. The market is on a downward move after retesting level 19600. Presently price fluctuates between levels 19000 and 19600. The downtrend has reached a low of 19295 and it is approaching the low of 19000.

ITA40 – 4 Hour Chart

4-hour Chart Indicators Reading
The index is below 80% range of the daily stochastic. It is previously in the overbought region of the market but now the price is falling. Italy 40 is in a bearish momentum. The SMAs are also sloping upward indicating the upward move. The retracement fell to the support of the 21-day SMA.


General Outlook for Italy 40 (ITA40)
Italy 40 is currently resuming a fresh uptrend but battles resistance at level 19600. In the meantime, price fluctuates between level 19000 and 19600. The uptrend will resume when price breaks level 19600. In the meantime a sell order will do.



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NZD/USD Is in a Sideways Trend, Targets Levels 0.64500 and 0.65000

NZD/USD Is in a Sideways Trend, Targets Levels 0.64500 and 0.65000

Key Resistance Levels: 0.64000, 0.65000, 0.66000
Key Support Levels: 0.58000, 0.57000, 0.56000

NZD /USD Long-term Trend: Bullish
The Kiwi is in an uptrend. However, in June the market is in a sideways trend. A correction candle body tested the 0.786 retracement level. This indicates that the market will reach a high of 1.272 extension level. The Kiwi will rise and reverse at the 1.272 extension level. When the market reverses, the price will return to 0.786 retracement level. However, the reversal may not be immediate.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The SMAs are sloping in a sideways move. The market is currently in a sideways trend. The Kiwi has risen to level 54 of the Relative Strength Index. This indicates that the pair is in the uptrend and also above the centerline 50. The pair is likely to rise.

NZD /USD Medium-term Trend: Ranging
The Kiwi is in a sideways trend. Since June 11, the pair has been trading between level 0.64000 and level 0.65000. The price is now rising at the lower price range. The sideways move has initial resistance at level 0.64500. The pair may reverse if resisted.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
Presently, the 21-day SMA and 50-day SMA are slowing horizontally. It indicates that the pair is in a sideways move. The pair is above 25% range of the daily stochastic. The market is in a bullish momentum. The market is expected to rise.


General Outlook for NZD /USD
The Kiwi is still in a sideways move. The price is now rising at level 0.64013 to reach the previous high of 0.64500. The upward movement will continue if the initial resistance is broken.


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Gold Continues On a Range-Bound Streak Below $1,770

Gold Continues On a Range-Bound Streak Below $1,770

Gold (XAU/USD) continues on its range-bound move in the early European session and remains within the confines of the $1,775-70 level.

Worries over the growing number of new Coronavirus cases and fading optimism of a sharp V-shaped global economic recovery continue to extend support for the yellow metal’s safe-haven appeal.

Gold gained further backing from the concerns of the ever-growing diplomatic tensions between the US and China, particularly after the later implemented national security laws for Hong Kong and Macau. Meanwhile, the US has retaliated by limiting exports of sensitive American technology to Hong Kong and has completely discontinued the preferential treatment regulations for China.

Despite the favorable conditions and factors, an upward rally was capped by a modest recovery in the US dollar, which in most cases undermines demand for the dollar-denominated commodity.

Moving on, market participants will be looking forward to the US economic docket, which features the release of the Chicago PMI and the Conference Board’s Consumer Confidence Index. Subsequently, the Fed Chair, Jerome Powell, will be giving testimony before the House Financial Services Committee which is expected to have a significant influence on gold in the near-term.

XAUUSD – Daily Chart

Gold (XAU) Value Forecast — June 30

XAU/USD Major Bias: Bullish

Supply Levels: $1,779, $1,790, and $1,800

Demand Levels: $1,765, $1,758, and $1,745

As proposed yesterday, we should be expecting to see a break above the trendline drawn on our MACD indicator. A break above this line will likely end the range-bound consolidation and would open the door for gold to approach the $1,800. Although a move to the downside seems very unlikely, a drop below the $1,745 support could immediately change the overall bullish bias.

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USD/JPY Resumes Uptrend, Battles Resistance at Level 107.500

USD/JPY Resumes Uptrend, Battles Resistance at Level 107.500

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Ranging
The Yen fell to level 106 to resume an upward move. The pair has risen and it is approaching level 107.672. The Japanese Yen is currently approaching the resistance zone at level 107.700. The market is fluctuating below the resistance. On the upside, a break above the resistance will propel the price to reach the previous highs.

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and 50-day SMA are sloping downward. The market is now in a downtrend. The pair has fallen to level 53 of the Relative Strength Index. It indicates that Yen is in the uptrend zone and likely to rise.

USD/JPY Medium-term Trend: Bullish
The USD/JPY pair is currently in an uptrend. The red correction candle body tested the 0.50 retracement level. It indicates that the Yen will rise to a high of 2.0 extension level. The Yen is currently facing resistance at the level 1.272 extension level.

USD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The SMAs are also sloping upward. It indicates that the market is in an uptrend. The Yen is above 80% range of daily stochastic. It indicates that the market is approaching the overbought region. The price action is indicating a bullish signal.

General Outlook for USD/JPY
USD/JPY is now in an upward move after falling to the low of level 106. The market is currently facing resistance at level 107.700 as the uptrend is being threatened. The price is fluctuating below the current resistance.



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Binance to Launch a Perpetual Contract COMP/USDT With Leverage of 50x

Binance to Launch a Perpetual Contract COMP/USDT With Leverage of 50x

Giant crypto exchange Binance announced its plans to introduce a Compound (COMP) perpetual contract in Tether (USDT) on its platform.

On Monday, June 29, Binance announced that its users can now open positions on perpetual COMP/USDT contracts from Tuesday, June 30. According to Binance, “users will be able to choose between 1-50x leverage.”

Although it is also a futures contract, one of the main differences between perpetual and traditional futures contracts is that for perpetual contracts there is no predetermined expiration date. COMP/USDT perpetual contracts may open and close without prior notice.

Binance has provided four supporting articles on the launch. Following the first article, “Specifications for contracts for perpetual futures contracts”, Binance Futures will only settle perpetual contracts in USDT.

The Features of the COMP/USDT include:

Minimum Contract Quantity – 0.001
Maximum Contract Quantity – 10,000
Maximum Leverage – 50x
Base Initial Margin Rate – 2%

Binance charges a standard liquidation fee of 0.5%.

COMP is becoming more popular as the largest DeFi project with more than $600 million in crypto-assets. It is listed on popular exchanges including Coinbase and Binance. Binance listed COMP on June 26, letting its users trade in four pairs including COMP/USDT.

COMP has leaped 25 percent in reaction to the Binance listing. OKEx listed COMP today 29 June.
Token on Governance of Compound
Compound Finance is a decentralized, Etherum-based lending platform that allows users to gain interest or borrow crypto assets, including ETH, USDC, WBTC, BAT, DAI, SAI, and ZRX.

Though the project’s creators allegedly began designing the protocol in 2017, the application was not officially rolled out until around mid-2019. Different from other crypto initiatives, at the time of launch Compound, did not develop a native token.

The DeFi project released its token on June 16, called COMP, which is defined as a token of governance intended to enhance voting rights on the protocol.

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Gold to Hit $1,800 Mark as Inflation-Hedge Assets Gains Appeal: TD Strategists Declare

Gold to Hit $1,800 Mark as Inflation-Hedge Assets Gains Appeal: TD Strategists Declare

Gold remains range-bound around the $1,770 level for the better part of the European session and even now as we approach the close of the session. Meanwhile, strategists at TD Securities have opined that the yellow metal will likely surpass the $1,800 mark as inflation-hedge assets gain popularity.

According to the strategists, gold is on the brink of a breakout as recent price action continues to strengthen investors’ view of gold’s role switching from just a safe-haven asset to an inflation-hedge product. They added that the whole “maturity spectrum” of inflation breakevens are still considered to be below policy objectives. This means that declining rates should extend further support for gold to take the $1,800s in the near-term.

They ended by citing that recent changes in the Federal Reserve’s template strongly suggest that inflation-hedge assets like gold could continue to grow in popularity.

XAUUSD – Daily Chart

Gold (XAU) Value Forecast — June 29

XAU/USD Major Bias: Bullish

Supply Levels: $1,779, $1,790, and $1,800

Demand Levels: $1,765, $1,758, and $1,745

Gold remained in a consolidation range throughout today’s trading session considering there were no significant fundamental catalysts today. We can observe a descending trendline on our MACD indicator. A break above this line will be a healthy signal that gold has regained its bullish steam and we could see it go for the $1,800 yet again.

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Germany 30 (DE30EUR) Fluctuates between Levels 12000 and 12600, Targets Level 14569.10

Germany 30 (DE30EUR) Fluctuates between Levels 12000 and 12600, Targets Level 14569.10

Key Resistance Zones: 13600, 14000, 14400
Key Support Zones: 11200, 10800, 10400

Germany 30 (DE30EUR) Long-term Trends: Bullish
Germany 30 is in an uptrend. The index rose to level 13000 and was resisted.   A candle body tested 0.618 Fibonacci retracement level. This indicates that the pair will rise and reach  level 1.618 extension level. The upward move is expected.

DE30EUR – Daily Chart

Daily Chart Indicators Reading:
The index is at level 54 of the Relative Strength Index period 14. The market is in the uptrend zone and above the centerline 50. The SMAs are sloping upward indicating the previous trend. The moving averages have a bullish crossover.

Germany 30 (DE30EUR) Medium-term Trend: Ranging
On the 4- hour chart, the index is in a sideways trend. Since June, the pair has been fluctuating between levels 12000 and 12600. The index has resumed an upward move to reach the upper price range. The price may reverse after testing the upper price range. However, the uptrend will continue if level 12600 is breached.

DE30EUR – 4 Hour Chart

4-hour Chart Indicators Reading
The market is currently above 40 % range of the daily stochastic. The market is in a bullish momentum. The 21-day and 50-day SMAs are sloping horizontally indicating the sideways trend.

General Outlook for Germany 30 (DE30EUR)
DE30EUR index is still fluctuating between levels 12000 and 12600. According to the Fibonacci tool, the market will rise and reach level 1.618 extension levels. In other words, DE30EUR will reach the high of 14569.10


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