Daylight robbery of Bitcoin in Hong Kong

This week’s bitcoin $65million audacious hack from Hong Kong’s Bitfinex went a bit like this:

steallyFromBaby

 

 

 

 

 

 

 

it was so easy – too easy – so traders got spooked and the currency lost 5.5% against the dollar bringing a two day loss to around 13% by mid-Wednesday. But Thursday’s announcement has done the trick and seems to have soothed feelings so it’s climbing steadily again. Now around 70 points from the weekly average and 100 from the monthly high traders are showing faith in the digital currency. We see 600 then 650 as key positions.

In Europe the GBPUSD has run wild with Thursday’s interest rate announcements so we hope you cashed in as we predicted lots of fun after a week of doom and gloom in that market. Take a peak at this chart to see why traders were twitchy.

Every single indicator has dropped below the crucial 50 mark and business confidence has tanked to a ball-aching -47. The Bank of England governor insists he won’t drop rates into the negative but seriously, let’s call it what it is, a recession. So what are the Brits going to do? Print more money? In any other industry that’s called fraud but with a pretty name everyone laps it up so look out for some quantitive easing as we predict the UK market isn’t on the up any time soon. And what does it mean for our traders – beautiful volatility and chances to make money on the way.

So have some serious fun playing Bitcoin over the weekend and check back for Monday’s post to give you the big events that will shake the markets up next week.

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Whatever direction you think Bitcoin is going to go, you can learn to trade at no risk here at SparkProfit. You can even earn weekly cash rewards.

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Playing for the break and the round number on USDJPY

yen has been in a strong downtrend

USDJPY has been in a strong downtrend. Will the round number support?

The USDJPY has been in a strong downtrend for most of the year. The Bank Of Japan (BOJ) have increased stimulus this month on a backdrop of economic uncertainty and this has weighed on this pair.

The USDJPY is consolidating and may provide trading opportunites

Consolidating for now.. NFP may make USDJPY move

Now, this pair is consolidating in a channel and tomorrows Non-Farm Payroll (NFP) announcement at 12.30 GMT may provide trading opportunities on a break out. The figure expected is 175K for NFP and any deviations from this may surprise the market and get this pair moving.

We are trading close to the round number 100 which has provided recent support. Any break downs may meet some buying support at this level again.

No Risk with SparkProfit

Whatever direction you think the markets are going to go, you can learn to trade at no risk here at SparkProfit. You can even earn weekly cash rewards.

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Is Brent Oil in a Bear Market? Not while its above $40.5

Brent Oil at trading level

Hold on to your hat! Oil may be ready to drop

Once again, we seem to be at a key level for Oil. Brent Oil is trading at $42 as we go into the Trade Inventories announcement today (2.30pm GMT). From a years high of $52.86, Brent has dropped over 20% and is now trading just below the 200 day price average (a key indicator used by traders to gauge the sentiment of a market).

If the $42 should break with selling, the next area of interest is $40.50 which is the half way back of this years bullish correction. Below this level, $37.30 may attract buyers with its previous demand and the 61.8 fibonacci nearby.

We are still trading at the $42 level though and with the 200 moving average nearby, the bulls may decide this is not a bad place to build a long position.

some trade levels on brent oil

Where might the buyers be?

No Risk with SparkProfit

Whatever direction you think the markets are going to go, you can learn to trade at no risk here at SparkProfit. You can even earn weekly cash rewards.

For bigger returns you’ll want TIQL, the New Way To Trade. TIQL was designed to be the world’s safest and simplest trading app – guaranteed, and with the $10 first deposit halved to $5 just for this week there’s no better time to join!

Please note our disclaimer on all of this.

London calling

Guess where I am

Not London

All trades lead to London this week but I’m kicking off with a little Alpine R&R during today’s Swiss Bank Holiday. Canada is also closed for the day but let’s face it the Swiss know how to do chocolate, and dogs, bigger and better than anyone. No competition.

Here’s the events making our knees tremble this week. Psst – skip to Thursday for the biggie.

Monday 8.30am GMT

Manufacturing PMI gives us a taster of Thursday’s tsunami. Purchasing forecasts have been fairly accurately at just under 50 for the last quarter but you might expect even lower. 10am sees the US version – no prizes for guessing whose economy will look better.

Tuesday 8.30am GMT

Is Jools Britannia going to have a roof over her head? The Construction PMI picks the brains of 170 bods in the know. Only they don’t. The last 3 months they said up but things went south. This month if they don’t say less than 50, I’ll drink Trump’s fake bake.

Wednesday 9.30am GMT

Services are big in the UK and they were going great guns… until they got sucker punched by Brexit. First contraction in 42 months in June. So suck it up services – you’re going down..

Wednesday 3.30pm GMT

Oil may have support at the 42.50 level

Oil supported at $42.5?

OIL – you know you love it. Don’t know why – it never does much – but last week bucked the trend and things have started looking up. Or was it just a flash in the pan? (oh I did… I so did make that joke (takes a bow) I thank you)

Thursday 11pm – 11.30pm GMT

CARNAGE – put down your phone and rest those weary legs – that egg can hatch later. You’ve got half an hour or more of trade tsunami to ride here so it’s time to get surfing. From the BOE inflation report on the hour through the announcement of the official rate to the speech by Mark Carney at 12.30pm. THIS is the market mover of the week.

Big fish, little fish, cardboard box

Big fish, little fish, cardboard box

Weekend pundits have been laying out their stall for a BOE rate cut. It has been at 0.5% for 89 months and until Brexit there were rumbles of an increase due to the improved economy. Now that’s toast. High street bank Natwest recently changed business terms to include what would happen with a negative interest rate – it’s getting real. If there’s a cut, confidence in the UK will nosedive and we want you Spark Profiteers to do what you do best – make money from their misery. Just kidding. But seriously, this could be your trade of the month. Are rates going up or down? Are the markets going to buy or sell the pound?

Wednesday 12.30pm GMT

mmm bacon

mmm bacon

Non-farm employment prediction time – it’s going to be good. They can always get a job making flags, after all, right? Americans like flags, don’t they. Pay attention because the markets do and figure’s have been all over the shop for the last quarter – so jump the right way and you could be quids in.

Check in on Friday at 12.30pm GMT to follow through

No Risk with SparkProfit

Whatever direction you think the markets are going to go, you can learn to trade at no risk here at SparkProfit. You can even earn weekly cash rewards.

For bigger returns you’ll want TIQL, the New Way To Trade. TIQL was designed to be the world’s safest and simplest trading app – guaranteed, and with the $10 first deposit halved to $5 just for this week there’s no better time to join!

Please note our disclaimer on all of this.