Fundamental analysis

Rising risk following rising tensions between Ukraine and Russia

Risks in financial markets are increasing, and investors had a snapshot of what sort of market reaction could come if Russia invades Ukraine.

Last Friday saw the US warn of an imminent attack which sent oil prices 5% higher over two trading days, with Brent fast approaching the $100 price tag. Equity markets also suffered steep losses as the S&P 500 dropped 1.9%, and the Nasdaq Composite tumbled 2.8%

Asian markets are catching up with Friday’s Wall Street losses with Japan’s Nikkei falling more than 2%, while markets in China, Hong Kong, and South Korea are all in the red.

02,15,2022 • NAZANIN

How does raising interest rates curb inflation?

Higher interest rates reduce demand The Federal Reserve controls the federal funds rate, which is often referred to as the target rate. It is also the rate banks use for providing overnight loans to each other. Banks borrow money to be able to deliver loans to consumers and businesses. Therefore, when the Fed hikes rates, it raises the cost of borrowing for banks that need money to lend to others or meet their regulatory requirements. Of course, banks pass these higher costs on to consumers and businesses. If the Fed raises the interest rate by 25 basis points or 0.25%, consumers and businesses will also have to pay more to borrow money.

Lower demand reduces inflation Since raising rates lowers demand and puts the brakes on the economy, that’s exactly what slows down inflation. Usually, the prices of goods and services rise when the demand for them increases, fuelling inflation. However, as borrowing becomes more expensive, the demand for goods and services decrease throughout the economy.

Prices may not necessarily decrease and return to their old rates after raising rates, but at least their inflationary rate will decrease. The Fed follows this cycle to control inflation. Inflation rises strongly, so the US central bank hikes rates until the demand for goods and services decreases, and thus prices calm down, and so does inflation

02,14,2022 • NAZANIN

CRYPTOCURRENCY MARKET

Bitcoin price topped just above USD 43000 and corrected lower. Ethereum declined almost 4%, XRP broke the USD 0.85 support. THETA and SLP rallied over 21%.

Bitcoin price climbed above the USD 45,500 resistance level. However, BTC failed to continue higher and started a fresh decline below USD 44,000. It is currently trading near USD 43,200, with a bearish angle

Similarly, most major altcoins also declined. ETH traded below the USD 3,120 support level. XRP dropped below the key USD 0.85 support zone. ADA is approaching the USD 1.12 support

02,11,2022 • NAZANIN

Overall market mood of the US Inflation Data

Risk appetite was surprisingly strong into the US inflation data, expected to advance to another forty-year high at today’s print.

The pre-CPI rally in the US stocks suggests that the hawkish Federal Reserve (Fed) expectations have been broadly priced in, and that the perception that the worst reaction to the Fed rate hikes is mostly done.

But there is a risk that investor optimism is premature, and a stronger-than-expected inflation read could send all the recent gains crashing, as there is still room for Fed hawks to price in a tighter Fed policy. Activity on Fed fund futures hint that there is only about 20% chance of a 50bp hike from the Fed in March. There is room to bet for a more aggressive first rate hike from the Fed if inflation goes further out of control.

02,10,2022 • NAZANIN

Risk of choppy trading in financial markets

Risk sentiment improves both in the European and the American stock markets since yesterday, thanks to the abating sovereign bond selloff. Yet, the sovereign bond bears are not far with the prospects of less central bank buying, and that means that they will continue threatening the gains in the coming weeks. Therefore, the choppy trading is here to stay as the strategic positioning in the market is changing along with the fundamentally, and perhaps unreversible hawkish shift from the major central banks, unless inflation abates magically.

Yesterday, financials and mining stocks took the lead, small caps outperformed their big cap peers, with Russell 2000 bouncing 1.63%, whereas gains in the major US indices remained between 0.85% and 1.30%.

Improved sentiment is put on the back of more optimism about reopening, meanwhile the hawkish Fed expectations and the rising yields continue being a serious threat to the actual gains, as the major triggers behind the latest bond selloff are still in play. This means that there is a high risk of a sudden mood swing before Thursday’s US inflation data.

02,09,2022 • NAZANIN

Bitcoin price rallied above the USD 43,500 resistance zone.

Bitcoin price rallied above the USD 44000 resistance zone. Ethereum climbed above USD 3,120, XRP surged 21%. MATIC rallied 14%, and SHIB is up almost 19%.

Bitcoin price remained in a positive zone above the USD 40,000 resistance. BTC cleared the USD 43,500 resistance level and spiked towards USD 44,500. It is currently consolidating gains near USD 44,200.

Similarly, most major altcoins are gaining bullish momentum. ETH was able to settle above the USD 3,120 resistance level. XRP surged 21% and surpassed the USD 0.88 level. ADA broke the USD 1.22 resistance level.

02,08,2022 • NAZANIN

Today's news

The greenback is staying resilient against its rivals at the start of the week following Friday's rebound, which was fueled by the upbeat January US jobs report.

There won't be any high-tier macroeconomic data releases on Monday and major currency pairs are likely to move sideways. US stock index futures are trading flat and the benchmark 10-year US Treasury bond yield stays calm near 1.9% early Monday, pointing to a neutral market mood.

The US Bureau of Labor Statistics reported on Friday that Nonfarm Payrolls (NFP) rose by 467,000 in January. This print surpassed the market expectation of 150,000 by a wide margin. Additionally, the publication revealed that the annual wage inflation, as measured by the Average hourly Earnings, jumped to 5.7% from 5% in December, beating analysts' estimate of 5.2%. Supported by these figures, the US Dollar Index snapped a five-day losing streak on Friday. The index is clinging to small daily gains above 95.50 on Monday.

02,07,2022 • NAZANIN

Market movers today

The most important release today will be the jobs report from the US. Based on the ADP jobs report and comments from the White House, non-farm payrolls probably declined due to sick days (omicron). As labour demand remains sky high, a weak print should be disregarded. Focus may be on the so-called “household survey”, where people without paid sick days are still counted as employed.

In Europe, we will look out for factory orders in Germany and euro area retail sales, which will likely reflect the very poor German retail sales we got on Tuesday. At 10:00 today, ECB will publish its survey of professional forecasts on inflation and Main findings from the ECB’s recent contacts with non-financial companies.

We will also keep an ear out for talks between Russian president Vladimir Putin and Chinese president Xi Jinping ahead of the opening of the Beijing Winter Olympics, as Putin pledges to deepen diplomatic and economic ties between the two countries.

02,04,2022 • NAZANIN

European Central Bank (ECB) Monetary Policy Press Conference

The European Central Bank's (ECB) Monetary Policy Press Conference is held after the European Central Bank's meeting, during which the interest rate and monetary policy is discussed, which the regulator holds every six weeks.

The press conference is normally given by the ECB President. First, the President reads out a statement, which contains a brief description of current financial and economic conditions in the eurozone, then announces the short-term interest rate and adopted monetary policy measures. This is followed by a short answer session.

The ECB press conferences are usually expected by economists and analysts around the world. The behavior of the euro largely depends on the decision taken by the regulator. Also, the ECB President's comments on the interest rate can influence the euro volatility. If the President's comments suggest that the ECB may tighten the monetary policy in the future, this is seen as positive for the euro. If both the decision and the ECB President's statement are within expected ranges, the press conference will hardly have a serious impact on currency markets.

02,03,2022 • NAZANIN

ADP United States Nonfarm Employment Change

This index was 807K last month and it is expected to decline to 503k this month. this index shows the monthly change of employment in the main sectors of the United States economy and does not take agriculture into account.

The report reflects the division into sectors and industries: it provides separate data for the production sector and the service sector The report also provides a snapshot of changes in small businesses, medium and large businesses.

The indicator characterizes the US labor market state. It is published two days prior to the Bureau of Labor Statistics' report, so economists see it as a preview the official report. Growth of employment is a leading indicator of consumer spending growth. The Fed takes into account the state of the labor market in its interest rate decision. Therefore, indicator growth can be seen as positive for the US dollar.

02,02,2022 • NAZANIN

What to expect from the ECB meeting

the ECB has already laid out its plans to continue asset purchases this year and indicated that an increase in interest rates is highly unlikely in the near term as the Eurozone’s economic recovery continues to lag that of the US and UK. Despite that warning, markets have started to price in the potential for one interest rate hike from the ECB at the end of the year; we would expect Lagarde and company to push back against that possibility given the central bank’s subdued outlook for medium-term inflation.

Speaking of price pressures, the Eurozone will release its Flash CPI estimate for January on Wednesday, the day before the ECB meeting. With the headline inflation reading expected to moderate from 5.0% last month to 4.4% this month and the “core” (excluding food and energy) measure expected to fall to 1.8% from 2.6% last month, the macroeconomic calendar should provide cover for Lagarde to be flexible, rather than sounding overly concerned about persistent inflation for now.

We also anticipate that the central bank will blame lingering price pressures on supply-side constraints, rather than excess demand that may be influenced by monetary policy. Put simply, the ECB can do little to reduce energy prices, alleviate shipping congestion at ports, or address most of the biggest issues driving prices higher in the current environment.

02,01,2022 • NAZANIN

Bitcoin price failed to stay above the USD 38,000 resistance.

Bitcoin price failed to stay above the USD 38,000 resistance. Ethereum struggled near USD 2,650, XRP settled below USD 0.60. AVAX, MATIC, and LUNA are down 8%-13%.

Bitcoin price attempted a close above the USD 38,000 resistance zone, but failed and dropped below USD 37,000 in a few hours today. It is currently trying to recover above USD 37,180.

Similarly, most major altcoins are also moving lower. ETH topped near USD 2,650 and declined below USD 2,550. XRP is down 5% and trading below USD 0.60. ADA is struggling to stay above the USD 1.00 support zone.

01,31,2022 • NAZANIN

After Hawkish Fed and Strong GDP, Can PCE Inflation Add More Fuel to Dollar Rally?

PCE inflation data will wrap up a very busy week for the US dollar on Friday. The Fed’s favourite inflation metric will be accompanied by personal income and spending numbers when released at 13:30 GMT.

The core PCE price index jumped to 4.7% year-on-year in November. It is projected to have inched up to 4.8% year-on-year in December. The monthly pace is expected to have stayed at a somewhat elevated level of 0.5%. Although this particular price measure remains some way below the broader consumer price index, which has skyrocketed to 7%, it would still reach the highest rate in nearly 39 years if the forecast is met, underscoring just how badly inflationary pressures have spiralled out of control.

The other data in the upcoming report are expected to be more mixed. Personal income likely rose by 0.5% month-on-month, but personal consumption is forecast to have declined by 0.6% m/m. The drop is unlikely to alarm the Fed or investors, however, as consumption has generally been strong lately and the advance GDP readings just confirmed thi

01,28,2022 • NAZANIN

The result of FOMC

As we noted in our FOMC meeting preview report, there was always going to be only an outside chance of any changes to monetary policy at today’s Fed meeting…and as it turned out, that’s exactly what we saw. Despite the lack of immediate policy changes though, the tone of the statement and Jerome Powell’s press conference was nonetheless critical for market sentiment as the central bank weighed ongoing price pressures, an improving labor market, the surging pandemic, the sharp drop in stocks to start the year and countless other variables.

Rather than committing to a specific path for monetary policy in advance, Jerome Powell and Company acknowledged all the competing crosswinds and opted to reiterate its current plan to rapidly wind down its quantitative easing program while hinting that interest rate liftoff is likely coming as soon as the next Fed meeting in March: FED SAYS ASSET PURCHASES TO CONCLUDE IN EARLY MARCH FED SAYS IT `WILL SOON BE APPROPRIATE’ TO RAISE FUNDS RATE BALANCE SHEET SHRINKING TO START AFTER RATE HIKES COMMENCE

While some traders thought the central bank may opt to end QE early or even try to head off inflation by raising interest rates immediately, the committee stuck to the proverbial script, maximizing its flexibility and buying time for the economy to normalize.

01,27,2022 • NAZANIN

Federal Open Market Committee (FOMC) Press Conference

FOMC Press Conference is a quarterly event, which attracts the attention of financial analysts and economists from around the world. During the press conference, the US Federal Open Market Committee members respond to journalists' questions about the US monetary policy, inflation prospects and measures taken to achieve its target level.

The US Federal Open Market Committee is responsible for developing and implementing the monetary policy of the country, which is aimed at maintaining price stability, economic growth, full employment and sustainability of international trade. The index allows making conclusions about the terms of interest rate changes, as well as easing or tightening of the monetary policy, depending on the speaker's rhetoric.

The statements of FOMC members contain an assessment of current economic conditions in the country. If the rhetoric suggests a possible hike in the Fed's interest rate or tightening of the country's monetary policy during several next meetings, such a speech may lead to a near-term volatility of the dollar towards growth. If the Committee's rhetoric is cautious or conservative, it rarely affects the exchange rate of the national currency.

01,26,2022 • NAZANIN

Federal Open Market Committee (FOMC) Press Conference

FOMC Press Conference is a quarterly event, which attracts the attention of financial analysts and economists from around the world. During the press conference, the US Federal Open Market Committee members respond to journalists' questions about the US monetary policy, inflation prospects and measures taken to achieve its target level.

The US Federal Open Market Committee is responsible for developing and implementing the monetary policy of the country, which is aimed at maintaining price stability, economic growth, full employment and sustainability of international trade. The index allows making conclusions about the terms of interest rate changes, as well as easing or tightening of the monetary policy, depending on the speaker's rhetoric.

The statements of FOMC members contain an assessment of current economic conditions in the country. If the rhetoric suggests a possible hike in the Fed's interest rate or tightening of the country's monetary policy during several next meetings, such a speech may lead to a near-term volatility of the dollar towards growth. If the Committee's rhetoric is cautious or conservative, it rarely affects the exchange rate of the national currency.

01,26,2022 • NAZANIN

Bitcoin price started an upside correction above USD 36,000.

Bitcoin price started an upside correction above USD 36,000. Ethereum is consolidating near USD 2,400, XRP is stuck near USD 0.60. ATOM jumped 9%, FTM, OSMO, and MKR are up around 6%.

Bitcoin price found support near USD 33,000 and started an upside correction. It is currently up 3%, is trading near USD 36,500 and facing resistance near USD 37,000.

Bitcoin price found support near USD 33,000 and started an upside correction. It is currently (04:15 UTC) up 3%, is trading near USD 36,500 and facing resistance near USD 37,000.

01,25,2022 • NAZANIN

PMI data to kick start the Fed week

Wall Street's main indexes suffered heavy losses on Friday and the benchmark 10-year US Treasury bond yield fell sharply ahead of the weekend, making it difficult for the dollar to outperform its rivals

Ahead of IHS Markit's preliminary January Manufacturing and Services PMI surveys for Germany, the euro area, the UK and the US, the greenback is holding its ground with the US Dollar Index posting modest gains above 95.70. The Federal Reserve Bank of Chicago's National Activity Index and the Federal Reserve Bank of Dallas' Manufacturing Business SUrvey will also be featured in the US economic docket.

At the start of the week, the market mood seems to be improving. During the Asian trading hours, the People's Bank of China announced that it lowered the rate on the 14-day reverse repo by 10 basis points. Reflecting the risk-positive environment, the US stocks futures indexes are up between 0.65% and 0.85% in the early European morning. Last week, the S&P 500 fell 5.8% and registered its largest one-week drop since the beginning of the coronavirus pandemic.

01,24,2022 • NAZANIN

PMI data to kick start the Fed week

Wall Street's main indexes suffered heavy losses on Friday and the benchmark 10-year US Treasury bond yield fell sharply ahead of the weekend, making it difficult for the dollar to outperform its rivals

Ahead of IHS Markit's preliminary January Manufacturing and Services PMI surveys for Germany, the euro area, the UK and the US, the greenback is holding its ground with the US Dollar Index posting modest gains above 95.70. The Federal Reserve Bank of Chicago's National Activity Index and the Federal Reserve Bank of Dallas' Manufacturing Business SUrvey will also be featured in the US economic docket.

At the start of the week, the market mood seems to be improving. During the Asian trading hours, the People's Bank of China announced that it lowered the rate on the 14-day reverse repo by 10 basis points. Reflecting the risk-positive environment, the US stocks futures indexes are up between 0.65% and 0.85% in the early European morning. Last week, the S&P 500 fell 5.8% and registered its largest one-week drop since the beginning of the coronavirus pandemic.

01,24,2022 • NAZANIN

Bitcoin price started a decline below USD 40,500 and USD 40,000.

Bitcoin price started a decline below USD 40,500 and USD 40,000. Ethereum traded below USD 3,000, XRP dropped to USD 0.70. Most major altcoins are down over 6%.

Bitcoin price tried to clear the USD 43,500 resistance zone. However, BTC struggled to gain pace and started a decline below USD 41,200. There was a break below USD 40,000 and the price is currently consolidating losses near USD 38,900.

Similarly, most major altcoins declined sharply. ETH traded below the key USD 3,000 support zone. XRP declined and even spiked below USD 0.70 before recovering. ADA is down almost 10% and there was a move towards the USD 1.20 level.

01,21,2022 • NAZANIN

United States Existing Home Sales

This index was 6.46M last month and it is expected to decrease to 6.44M this month.

US Existing Home Sales reflect the amount of the secondary housing sales for the given month. The calculation includes only closed transactions for sale of existing single-family houses, apartments, condos and cooperatives. The report is published by the US National Association of Realtors. The detailed version features both absolute number of units sold and evaluation in monetary terms (average sales prices by geographic regions). Data are provided for four geographical regions: Northeast, Midwest, South and West. The indicator is seasonally adjusted. An important note in the report evaluation: since the report only reflects "closed" transactions, it actually includes sales made 6 to 8 weeks ago (time needed to formalize a real estate transaction in the US). So the indicator characterizes existing conditions.

Analysts appreciate the index for the large sample size (covering the whole territory of the country) and for information on apartments provided in addition to single-family houses, which gives a greater objectivity in assessing the housing market. The indicator characterizes the strength of the housing market and its aggregate demand. It also enables an indirect outlook for the sales dynamics of related products, such as housing insurance or household goods. Indicator growth can have a positive effect on USD quotes.

01,20,2022 • NAZANIN

Bitcoin price is struggling to recover above USD 42,750.

Bitcoin price is struggling to recover above USD 42,750. Ethereum is facing hurdles near USD 3,200, XRP settled below USD 0.75. ADA keeps trimming its gains, while ETC and THETA are rallying.

Bitcoin price extended decline below the USD 41,800 level. BTC even tested USD 41,250 and recently corrected higher. It is currently trading above USD 41,500, but a break above USD 42,750 is needed for a decent recovery.

Similarly, most major altcoins are attempting an upside correction. ETH spiked below USD 3,120, but the bulls protected USD 3,050. XRP is struggling to settle above USD 0.750. ADA trimmed gains and declined below USD 1.50.

01,19,2022 • NAZANIN

ZEW Germany Economic Sentiment Indicator

ZEW Germany Economic Sentiment Indicator was 29.9 and it is expected to increase to 30.9 this month.

In their answers, the financial market experts should only give qualitative estimates of trends with regard to the direction of change. This means that they merely assess whether, in their opinion, long-term interest rates, for example, will rise (+), fall (-) or remain more or less constant (=) in the next 6 months

The ZEW Indicator of Economic Sentiment is an early indicator of the economic situation in Germany, comparable to the IFO business expectations. Index growth can have a positive impact on euro exchange rates.

01,18,2022 • NAZANIN

BTC

Bitcoin price started a downside correction from the USD 44,400 resistance. Ethereum failed to surpass USD 3,400, XRP corrected below USD 0.780.

XMR and NEAR gained over 8%. Bitcoin price made another attempt to gain pace above USD 44,000. BTC formed a high near USD 44,400 and started a downside correction. It is currently trading near USD 42,500.

Similarly, most major altcoins are correcting gains. ETH retreated lower from the USD 3,400 resistance zone. XRP declined below the USD 0.780 support zone. ADA is down almost 5% and traded below the USD 1.265 support zone.

01,14,2022 • NAZANIN

Bitcoin price took a pause below the USD 44,000 resistance.

Bitcoin price took a pause below the USD 44,000 resistance. Ethereum consolidates below USD 3,400, XRP tested the key USD 0.80 resistance. LUNA and SHIB gained over 10%.

Yesterday, bitcoin price rallied above the USD 42,500 resistance level and even spiked above USD 44,000 before correcting lower.

Similarly, most major altcoins extended gains and tested resistance. ETH surged above USD 3,320 and tested USD 3,400. XRP increased too but faced resistance near USD 0.80. ADA rallied above USD 1.30 and even tested USD 1.35 before correcting lower.

01,13,2022 • NAZANIN

Bitcoin price recovered above USD 41,500.

Bitcoin price recovered above USD 41,500. Ethereum is stable above USD 3,050, XRP is still below USD 0.75. ROSE and NEAR gained over 11%.

Yesterday, bitcoin price extended decline below the USD 40,500 level. BTC even traded below the USD 40,000 level, but the bulls were active. The price started a sharp recovery and is currently trading near USD 42,300.

Similarly, most major altcoins are showing a few positive signs. ETH spiked below USD 3,000 before there was a sharp upward move. XRP is still struggling to settle above the key USD 0.750 pivot level. ADA spiked below USD 1.10 before a recovery wave.

01,11,2022 • NAZANIN

Bitcoin price is facing resistance near USD 42,500.

Bitcoin price is facing resistance near USD 42,500. Ethereum tested the USD 3,000 support, XRP is consolidating near USD 0.75. LUNA and AR gained over 6%, MATIC and AVAX are attempting an upside break too.

Bitcoin price extended decline below the USD 43,000 level and even traded close to USD 40,500. BTC is currently trying to recover higher above USD 42,880

Similarly, most major altcoins are trading above key supports. ETH tested USD 3,000 and moved back near USD 3,200 again. XRP is consolidating near the key USD 0.750 pivot level. ADA is trading below the USD 1.20 resistance zone.

01,10,2022 • NAZANIN

Bitcoin price is facing resistance near USD 42,500.

Bitcoin price is facing resistance near USD 42,500. Ethereum tested the USD 3,000 support, XRP is consolidating near USD 0.75. LUNA and AR gained over 6%, MATIC and AVAX are attempting an upside break too.

Bitcoin price extended decline below the USD 43,000 level and even traded close to USD 40,500. BTC is currently trying to recover higher above USD 42,880

Similarly, most major altcoins are trading above key supports. ETH tested USD 3,000 and moved back near USD 3,200 again. XRP is consolidating near the key USD 0.750 pivot level. ADA is trading below the USD 1.20 resistance zone.

01,10,2022 • NAZANIN

United States Nonfarm Payrolls

this index was 210k last month and it is expected to rise to 379k this month.

Nonfarm Payrolls present the number of new jobs created during the given month, in all non-agricultural sectors of the US economy. Calculation does not include military and intelligence services, self-employed citizens and those employed on private households.

This reports is one of the most important US economic indicators, which is used in the evaluation of the country's economic health. It is often considered an indicator tending to move the market. Non-farm payrolls cover about 80% of employees producing the entire GDP of the United States. Indicator growth suggests that more consumers will earn money, which means that both consumption and consumer spending will grow. This stimulates economic growth. The release of this report usually increases volatility in foreign exchange markets. Indicator growth is seen as positive for dollar quotes.

01,07,2022 • NAZANIN

Bitcoin price declined sharply below USD 45,000.

Bitcoin price declined sharply below USD 45,000. Ethereum is down 10% towards USD 3,400, XRP declined below USD 0.80. ICP and AXS declined 18%.

Bitcoin price started a major decline from well above the USD 47,000 level. BTC dived below the USD 45,500 support zone. It is currently down almost 8% and is trading near USD 42,900.

Similarly, most major altcoins declined sharply. ETH traded below the USD 3,800 and USD 3,750 support levels. XRP nosedived below the USD 0.80 support. ADA gained bearish momentum below the USD 1.30 support zone.

01,06,2022 • NAZANIN

Bitcoin price declined sharply below USD 45,000.

Bitcoin price declined sharply below USD 45,000. Ethereum is down 10% towards USD 3,400, XRP declined below USD 0.80. ICP and AXS declined 18%.

Bitcoin price started a major decline from well above the USD 47,000 level. BTC dived below the USD 45,500 support zone. It is currently down almost 8% and is trading near USD 42,900.

Similarly, most major altcoins declined sharply. ETH traded below the USD 3,800 and USD 3,750 support levels. XRP nosedived below the USD 0.80 support. ADA gained bearish momentum below the USD 1.30 support zone.

01,06,2022 • NAZANIN

ISM United States Manufacturing Purchasing Managers Index (PMI)

The index is calculated based on a survey of representatives of several hundred companies from 18 US industries. Unlike Markit, ISM considers not only private companies but is based on the common NAICS (North American Industrial Classification System) list

The questionnaire features relative estimates: whether the situation is better, worse or has not changed. Responses are estimated taking into account weights of respondent companies. The values are seasonally adjusted. The resulting manufacturing PMI is a composite of five diffuse indices with different weights (New orders, Output, Employment, Supplies and Inventories). Readings above 50 point to improvements in the industry situation. Index below 50 is an indication of contraction in economic conditions of production. The further the value moves from the mark of 50, the greater the rate of situation change.

Manufacturing PMI is one of the most important indicators of economic health. Although the manufacturing sector is not a very important component of national GDP, it is still an early indicator of a coming recession or growth. Purchasing managers are among the first to know when the market conditions change, since they work in the short term and can evaluate a trend towards changing economic conditions. The index is released earlier than GDP and reports from the Bureau of Labor Statistics, therefore it is a leading indicator. Manufacturing PMI growth is usually seen as positive for the US dollar.

01,04,2022 • NAZANIN

Bitcoin price is struggling to gain pace above USD 48,000.

Bitcoin price is struggling to gain pace above USD 48,000. Ethereum eyes USD 3,850, XRP nears USD 0.85. OHM and YFI are up 10% and 12%, respectively.

Bitcoin price attempted a clear upside break above the USD 48,500 zone. However, BTC failed to gain pace for a move above the USD 48,500 and started a fresh decline. It is currently consolidating near USD 47,000 and there is a risk of a fresh decline towards USD 46,200.

Similarly, most major altcoins are consolidating losses. ETH is recovering and it might soon test the USD 3,850 resistance. XRP could attempt a fresh increase above USD 0.850. ADA is consolidating near the USD 1.35 zone.

01,03,2022 • NAZANIN

Bitcoin price is struggling to clear USD 49,500 and USD 50,000.

Bitcoin price is struggling to clear USD 49,500 and USD 50,000. Ethereum failed to surpass USD 4,080, XRP is testing the USD 1.00 resistance zone. DOT is up over 8%, while NEAR jumped 34%.

Bitcoin price attempted an upside break above the USD 49,500 zone but failed. BTC started a downside correction below USD 49,000. It is currently trading below USD 48,700 and there is a risk of a move towards USD 47,500.

Similarly, most major altcoins are also struggling to gain momentum. ETH topped near USD 4,060 and corrected lower. XRP extended increase and is testing the USD 1.00 barrier. ADA is stable above the USD 1.30 pivot level.

12,23,2021 • NAZANIN

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Bitcoin price is gaining pace above USD 49,000.

Bitcoin price is gaining pace above USD 49,000. Ethereum is consolidating above USD 4,000, XRP jumped 8% and cleared USD 0.95. LUNA and MIOTA are up over 11%.

Bitcoin price gained pace for a move above the USD 48,500 resistance zone. It is currently trading near USD 49,400 and it seems like the price could test USD 50,000 once again.

Similarly, most major altcoins are also gaining pace. ETH is consolidating above USD 4,000 after testing USD 4,100 and it might clear USD 4,120. XRP rallied 8% and there was a clear move above USD 0.96. ADA is testing the USD 1.30 resistance zone.

12,22,2021 • NAZANIN

Gold price is rebound in tandem with the risk-on trading

Gold price is rebound in tandem with the risk-on trading, as the market sentiment recovery on Tuesday, knocking down the safe-haven US dollar.

Meanwhile, the US Treasury yields stabilize at higher levels, aiding gold’s upside. However, investors remain wary and refrain from placing aggressive bets amid looming concerns over the Omicron covid variant contagion and its impact on the global economic recovery

Looking ahead, gold price will remain at the mercy of the broader market sentiment.

12,21,2021 • NAZANIN

Bitcoin price failed to surpass USD 48,500 and started a fresh decline.

Bitcoin price failed to surpass USD 48,500 and started a fresh decline. Ethereum is back below USD 4,000, XRP rallied above USD 0.90. LUNA and OHM are up 10% and 18%, respectively.

Bitcoin price failed to gain strength above the USD 48,500 resistance level. BTC started a fresh decline and traded below USD 47,500. It is currently showing bearish signs and there is a risk of more downsides below USD 46,00.

Similarly, most major altcoins are moving lower. ETH failed to surpass USD 4,100 and declined below USD 4,000. Conversely, XRP started a fresh rally and broke the USD 0.90 level. ADA is down almost 5% and it could revisit USD 1.20.

12,20,2021 • NAZANIN

Bitcoin price failed to surpass USD 49,500 and started a fresh decline.

Bitcoin price failed to surpass USD 49,500 and started a fresh decline. Ethereum is back below USD 4,000, XRP might test USD 0.800 again. LUNA and IOTA are up 5% and 7%, respectively.

Bitcoin price recovered above the USD 48,500 resistance level. However, BTC struggled to gain pace for a move above the USD 49,500 level. It is currently trading below USD 47,900 and there is a risk of a move below USD 47,000.

Similarly, most major altcoins are also moving lower. ETH failed to surpass USD 4,080 and declined below USD 4,000. XRP is struggling to stay above the USD 0.800 support. ADA is down 3% and it could revisit USD 1.22.

12,17,2021 • NAZANIN

European Central Bank (ECB) Interest Rate Decision

The European Central Bank's Interest Rate Decision is made by the Governing Council of the ECB every six weeks, during a meeting on monetary policy, and is announced right after the meeting. This is one of the most important macroeconomic events in the eurozone, which can affect the euro quotes.

The ECB takes the decision on the refinancing rate depending on the inflationary outlook and economic growth. The lower the rate, the cheaper it is for commercial banks to borrow money from the ECB, so rates on consumer and business loans are lower. Thus, lowering of the refinancing rate cheapens the euro and accelerates inflation processes, providing the balk of liquidity to the banking system.

Lowering of the ECB interest rate is seen as negative for the euro. If the ECB raises the refinancing rate, this leads to an increase in euro quotes.

12,16,2021 • NAZANIN

XAU/USD Awaits Breakout

Gold consolidates as traders await the Fed’s monetary policy update. The metal came under pressure after it erased all gains from the November rally.

Price action is stuck in a narrowing range between the daily support at 1760 and 1806. This indicates the market’s indecision.

A bearish breakout would confirm the bearish MA cross on the daily chart and trigger an extended sell-off towards the floor at 1680. On the upside, a rally would send the price to retest the previous peak at 1870.

12,15,2021 • NAZANIN

Bitcoin price traded below the USD 47,200 support zone.

Bitcoin price traded below the USD 47,200 support zone. Ethereum declined below USD 3,800, XRP settled below USD 0.80. Multiple altcoins are down in double-digits.

Bitcoin price failed to gain pace above the USD 49,200 resistance zone. BTC started a fresh decline and traded below the USD 48,000 support. It even broke the USD 47,200 support and is currently keeps showing bearish signs.

Similarly, most major altcoins are gaining bearish momentum. ETH settled below USD 4,000 and declined below USD 3,800. XRP traded below the key USD 0.80 support level. ADA declined almost 7% and even tested the USD 1.20 support.

12,14,2021 • NAZANIN

Consumer Price Index (CPI) m/m

Consumer price index was 0.9% last month in USA and it is expected to decline to 0,5% this month .

Consumer Price Index (CPI) m/m shows changes in average prices for a consumer basket of goods and services in the given month compared to the previous one. The index shows how prices change from the consumer perspective. In other words, it allows estimating changes in the cost of living.

The Consumer Price Index is often used for evaluating inflation. CPI growth indicates an increase in inflation. The index is used for the adjustment of wages and social payments. Also, CPI is used for adjusting the income tax structure and in the calculation of real GDP. CPI growth is seen as positive for dollar quotes.

12,10,2021 • NAZANIN

Bitcoin price is struggling to settle above the USD 50,000 resistance.

Bitcoin price is struggling to settle above the USD 50,000 resistance. Ethereum targets USD 4,400, XRP is up almost 5%. LUNA jumped 13% and entered the top 10 club.

Bitcoin price corrected lower and tested the USD 49,000 region. BTC is relatively stable and is currently facing resistance near USD 50,000. A close above USD 50,000 may perhaps push the price towards USD 52,000.

Besides, most major altcoins are gaining bullish momentum. ETH surpassed USD 4,350 and may perhaps gain strength above USD 4,400. XRP is up almost 5% and it is attempting a clear move above USD 0.85. ADA is rising towards the key USD 1.40 resistance.

12,09,2021 • NAZANIN

Gold is finding its feet in the European session this Tuesday

Gold is finding its feet in the European session this Tuesday, as bulls aim for a test of the critical $1,792 supply zone. The risk-off market mood-driven US dollar retreat is aiding the bounce in gold price. The further upside, however, appears elusive amid the rally in the Treasury yields and European indices.

The optimism surrounding the new Omicron covid variant combined with China’s latest support measures to boost the economic growth has boded well for the risk sentiment.

Next of relevance for gold remains the US Unit Labor Cost data amid a sparse docket. Meanwhile, the covid updates and the yields price action will continue to influence gold price.

12,07,2021 • NAZANIN

Bitcoin price is consolidating near USD 50,000.

Bitcoin price is consolidating near USD 50,000. Ethereum is consolidating above USD 4,000, XRP is struggling to stay above USD 0.80. ADA settled below USD 1.40, and SOL broke the USD 200 support.

On Saturday, bitcoin price started a major decline from well above USD 52,000. BTC dived over USD 10,000 before recovering losses. It is currently consolidating losses, with a major hurdle near USD 50,000.

Besides, most major altcoins traded below important supports. ETH dived below USD 3,550 before recovering above USD 4,000. XRP settled below the USD 0.850 support zone. ADA is still below USD 1.40 and is unchanged in a day.

12,06,2021 • NAZANIN

Bitcoin price extended decline below USD 56,000 before recovering.

Bitcoin price extended decline below USD 56,000 before recovering. Ethereum trimmed gains and declined 5%, XRP tested the USD 0.95 support. MATIC and LUNA rallied around 12%.

After touching USD 59,000, bitcoin price failed to continue higher and dived below USD 56,000. It is currently trying to recover towards USD 56,500.

Besides, most major altcoins are also trying to recover losses. ETH is down 5% and there was a break below the USD 4,550 support zone. XRP is now trading below the USD 1.00 pivot level. ADA is trading below USD 1.55.

12,02,2021 • NAZANIN

Bitcoin price is still struggling to gain pace above USD 58,000.

Bitcoin price is still struggling to gain pace above USD 58,000. Ethereum surged 7%, XRP is consolidating near the USD 1.00 level. LUNA and STX are up over 10%.

Bitcoin price made another attempt to gain strength above USD 58,500 but failed. BTC is currently trading in a range above USD 57,000. To start a fresh surge, the price must gain momentum above USD 58,500.

Besides, most major altcoins are showing positive signs. ETH is up 7% and there was a break above the USD 4,700 level. XRP is attempting a proper close above the USD 1.00 resistance zone. ADA must clear the USD 1.60 and USD 1.62 levels to start a stronger increase.

12,01,2021 • NAZANIN

Gold has staged a decent comeback

Gold has staged a decent comeback, as bulls look to recapture the $1,800 mark amid a revival of the Omicron covid variant fears

A flight to safety theme remains in vogue, as investors scurry to the US Treasuries, killing the demand for the yields. The sell-off in the US rates have heavily weighed on the dollar, boosting gold’s appeal

However, should risk-aversion intensify the greenback could regain its safe-haven status, capping the gold price recovery.

11,30,2021 • NAZANIN

Bitcoin price started an upside correction above USD 57,000.

Bitcoin price started an upside correction above USD 57,000. Ethereum climbed over 7%, XRP is still below USD 1.00. SAND and GALA are up over 23%.

Bitcoin price started a recovery wave above the USD 56,500 resistance. BTC is up 6%, it broke the USD 57,000 level and is currently consolidating. A close above the USD 58,000 level is needed for more upsides in the near term.

Besides, most major altcoins are moving higher. ETH is up 7% and there was a break above the USD 4,300 level. XRP is still struggling to clear the USD 1.00 resistance. ADA spiked below USD 1.50 before it corrected above USD 1.55.

11,29,2021 • NAZANIN

The European Central Bank President Christine Lagarde Speech reflects the official position of the European Central Bank

The European Central Bank President Christine Lagarde Speech reflects the official position of the European Central Bank, therefore every speech is carefully examined by the market participants and analysts.

The President of the European regulatory body is the one who has the maximum influence on euro quotes among all other employees of the ECB and the EU supervisory bodies.

If Christine Lagarde's rhetoric suggests possible developments in the future monetary policy, such as the upcoming tightening or easing, this may have a short-term positive effect on the euro. If she positively characterizes the labor market in the eurozone or states the inflationary growth, this can also be seen as positive for euro quotes. All these factors can give investors a hint of a near-term increase in the ECB's interest rate.

11,26,2021 • NAZANIN

Bitcoin price seems to be forming a base above the USD 55,500 support.

Bitcoin price seems to be forming a base above the USD 55,500 support. Ethereum settled above USD 4,250, XRP still below USD 1.05. SAND and GALA are up over 22%.

Bitcoin price is trading well above the USD 55,500 support level. BTC is rising and is currently trading near USD 57,500. A close above USD 58,000 could open the doors for a steady recovery wave in the near term.

Besides, most major altcoins are showing positive signs. ETH is back above USD 4,250 and it might clear the USD 4,350 resistance. XRP must settle above USD 1.05 to start a steady increase. ADA is trading below the USD 1.72 pivot level.

11,25,2021 • NAZANIN

Hereby, we inform you that recent economic events in Turkey caused TRY to experience turmoil

Dear valuable client Hereby, we inform you that recent economic events in Turkey caused TRY to experience turmoil. All TRY related FX pairs are expected to be volatile in the near future and periods of poor liquidity may occur.

Please be aware of risks related to trading TRY pairs at the moment. Thank you for your understanding.All charts have the ability to close transactions in Turkish lira.Our team recognizes that this currency is back to normal and safe for customers. The ability to re-trade will be added.

In case of any questions please contact us via web chat or via the email support@unfxb.com Best regards, UNFXB Technical Support Team https://unfxb.com/ Unicorn Forex Broker unicorn forex broker

11,24,2021 • NAZANIN

Hereby, we inform you that recent economic events in Turkey caused TRY to experience turmoil. All

Dear valuable client Hereby, we inform you that recent economic events in Turkey caused TRY to experience turmoil. All TRY related FX pairs are expected to be volatile in the near future and periods of poor liquidity may occur.

Please be aware of risks related to trading TRY pairs at the moment. Thank you for your understanding.All charts have the ability to close transactions in Turkish lira.Our team recognizes that this currency is back to normal and safe for customers.

The ability to re-trade will be added. In case of any questions please contact us via web chat or via the email support@unfxb.com Best regards, UNFXB Technical Support Team https://unfxb.com/ Unicorn Forex Broker unicorn forex broker

11,24,2021 • NAZANIN

Bitcoin price started a fresh decline after it struggled near USD 58,500.

Bitcoin price started a fresh decline after it struggled near USD 58,500. Ethereum is struggling below USD 4,200, XRP is consolidating above USD 1.00. SAND rallied 31%, and EGLD gained nearly 16%

Bitcoin price attempted recovery wave above the USD 58,000 level. However, BTC failed to gain strength and struggled above USD 58,500.

As a result, there was a fresh bearish reaction, and the price is currently trading below USD 57,00

11,23,2021 • NAZANIN

Gold is struggling to find its feet on Monday

Gold is struggling to find its feet on Monday, having hit the lowest levels in two weeks at $1,839 on Friday.

The US dollar holds onto the recent gains, despite the improving market mood, as the Treasury yields rebound amid expectations of hastened Fed’s tapering.

Given this scenario, gold remains vulnerable to additional downside momentum. Although bears could catch a breather ahead of Wednesday’s US data dump and FOMC minutes.

11,22,2021 • NAZANIN

Having failed several attempts to resist above the $1,870 threshold, gold price continues to hover in a familiar range above the critical $1,850 support.

Having failed several attempts to resist above the $1,870 threshold, gold price continues to hover in a familiar range above the critical $1,850 support.

The latest uptick in gold price can be attributed to a sharp sell-off in the US Treasury yields, as the risk sentiment sour amid inflation and coronavirus concerns

However, strengthening US economic recovery calls for earlier Fed’s tightening, boosting the US dollar, which could limit gold’s upside.

11,19,2021 • NAZANIN

Bitcoin price is consolidating near the USD 60,000 support.

Bitcoin price is consolidating near the USD 60,000 support. Ethereum is up 5%, XRP broke the USD 1.12 resistance. KDA is up 31%, while CRO jumped 46%.

Bitcoin price found support near USD 58,500 and recovered. BTC is back above USD 60,000 and is currently consolidating. A close above USD 61,200 could push the price towards the USD 62,500 resistance zone.

Besides, most major altcoins are gaining bullish momentum. ETH is up 5% and it broke the USD 4,300 level. XRP gained pace for a move above the USD 1.12 resistance. ADA is rising towards the USD 2.00 resistance zone.

11,18,2021 • NAZANIN

Gold price enjoyed good two-way price action on Tuesday,

Gold price enjoyed good two-way price action on Tuesday, although posted losses so far this week. Gold price initially rose as high as $1,877, a fresh five-month top, as persistent inflation concerns continued to underpin the metal’s appeal as an inflation hedge. Further, a pullback in the Treasury yields also helped gold to shine in the first half of the day. The tide, however, turned in favor of bears on the US Retail Sales release, as an upbeat data bolstered the Fed’s rate hike expectations, pushing up the US dollar alongside the yields

The 10-year benchmark yields hit the highest levels in three-week at 1.64% while the US dollar index tested the 96.00 level. The US Retail Sales rose for the third straight month in October, arriving at 1.7% MoM vs. 1.4% expected. The upbeat mood on Wall Street indices also exerted additional downward pressure on gold price.

Looking ahead, the UK and Eurozone inflation data will be closely eyed amid looming fears over rising price pressures and expectations of global monetary policy tightening. The Fed speculation will also lead the sentiment and could have a strong impact on the dollar valuations, in turn, influencing gold price action.

11,17,2021 • NAZANIN

Bitcoin price declined 7% and traded below USD 62,500.

Bitcoin price declined 7% and traded below USD 62,500. Ethereum dropped below USD 4,500, XRP is now well below 1.20. BNB, ADA, DOGE, and many altcoins are down over 5%.

Bitcoin price failed to gain strength above USD 65,500. As a result, BTC reacted to the downside and traded below USD 63,500. It is currently down over 7% and there is a risk of more downsides below USD 61,000.

Besides, most major altcoins are gaining bearish momentum. ETH declined below USD 4,500 and USD 4,450. XRP is down nearly 7% and traded below USD 1.15. ADA settled below the key USD 2.00 support zone.

11,16,2021 • NAZANIN

Bitcoin price is rising towards USD 66,500.

Bitcoin price is rising towards USD 66,500. Ethereum moves towards USD 4,750, XRP is back above 1.20. LEO gained 10%, and CRO rallied 13%.

Bitcoin price formed a base above the USD 63,500 level and started a fresh increase. BTC broke the USD 65,500 resistance and is currently facing resistance near USD 66,000. A close above this level might start a steady increase in the near term.

Besides, most major altcoins are showing positive signs. ETH is gaining momentum and it could even surge above USD 4,750. XRP is stable above USD 1.20, but it is facing resistance near USD 1.22. ADA could struggle near the USD 2.12 resistance.

11,15,2021 • NAZANIN

Bitcoin price is consolidating losses near USD 65,000.

Bitcoin price is consolidating losses near USD 65,000. Ethereum is rising towards USD 4,800, BNB is up 3%. SHIB gained 5%, and MANA rallied 19%.

Bitcoin price declined below the USD 65,000 support level before there was a minor recovery. It is currently trying to recover further and facing a major hurdle near USD 65,500.

Besides, most major altcoins are moving higher. ETH is gaining momentum and it could even surge above USD 4,800. XRP is trading near USD 1.22 and could continue higher. ADA might gain pace for a move above USD 2.12.

11,12,2021 • NAZANIN

Gold price surged to the highest levels

Gold price surged to the highest levels since June 16 at $1,869 before pulling back sharply to settle at $1,853 after US inflation-led explosion. Although the yellow metal is off highs, XAU/USD remains on track for the additional upside.

XAU/USD is correcting slightly after the recent upsurge, with the US Treasury yields holding onto their recent recovery gains.

However, the pause in the US dollar’s rally across the board is limiting the pullback in gold price

11,11,2021 • NAZANIN

to the US inflation showdown, which is eagerly awaited by the

Gold price is retreating in the lead-up to the US inflation showdown, which is eagerly awaited by the markets for any hints on the Fed’s rate hike timing, as well as, its pace of tapering in the coming months. The metal is easing from two-month tops, as the US dollar has caught a fresh bid amid escalating inflation concerns, especially after the Chinese Consumer Price Index and Producer Price Index jumped amid power crunch.

Record high Chinese PPI intensified the risk-off mood, lifting the safe-haven demand for the greenback.

All eyes now remain on the US inflation figures for the next decisive move in gold price. The US CPI is expected to arrive at 5.3% YoY in October vs. 5.4% previous while the core figure is seen steady at 4% in the reported period.

11,10,2021 • Yalda

Bitcoin price

Bitcoin price is up 5%, and it traded to a new all-time high above USD 68,000.

Ethereum also traded to a new all-time high above USD 4,800, XRP is consolidating gains. LRC and BAT are up over 27%

Bitcoin price remained in a steady uptrend, and it broke the USD 66,000 level. BTC even surpassed the USD 68,000 level and traded to a new all-time high near USD 68,640. It is currently consolidating gains above USD 68,500 and it could extend rally towards USD 69,000. Besides, most major altcoins are also rising steadily. ETH broke the USD 4,750 level and traded to a new all-time high near USD 4,860. XRP is consolidating gains and facing hurdles near USD 1.28. ADA is up 6% and surpassed USD 2.15

11,09,2021 • Yalda

Bitcoin price

Bitcoin price is up 5% and broke the USD 65,000 resistance.

Ethereum traded to a new all-time high above USD 4,700, XRP rallied over 10%. LRC and KCS are up over 16%.

Bitcoin price formed a base above the USD 62,500 level. BTC started a fresh increase above the USD 64,000 and USD 65,000 resistance levels. It is currently consolidating gains and it could extend its rally above USD 65,500. Besides, most major altcoins are also gaining momentum. ETH broke the USD 4,700 level and traded to a new all-time high. XRP is up over 10% and it spiked above the USD 1.26 level. ADA is consolidating above the USD 2.00 leve

11,08,2021 • Yalda

Bitcoin price

Bitcoin price is consolidating near the USD 62,000 support.

Ethereum is holding gains above USD 4,550, XRP might correct lower to USD 1.15. OMG and KDA are up over 23%, while SHIB is down by another 19%.

Bitcoin price started a minor downside correction below the USD 63,500 support zone. BTC is trading below USD 62,500 and is currently consolidating gains. A downside break below USD 61,200 could spark a larger downside correction. Besides, most major altcoins are correcting gains. ETH declined below USD 4,600, but it remained stable above USD 4,550. XRP is down over 3% and it is trading near USD 1.20. ADA fluctuates around USD 2.00

11,05,2021 • Yalda

The European Central Bank President

The European Central Bank President Christine Lagarde Speech reflects the official position of the European Central Bank, therefore every speech is carefully examined by the market participants and analysts.

The President of the European regulatory body is the one who has the maximum influence on euro quotes among all other employees of the ECB and the EU supervisory bodies. The President has access to the full information on the intentions of the ECB Board and the opinions of its separate members. Therefore, Lagarde's statements are carefully monitored by analysts and economists. The texts of the speeches are published on the ECB website.

If Christine Lagarde's rhetoric suggests possible developments in the future monetary policy, such as the upcoming tightening or easing, this may have a short-term positive effect on the euro. If she positively characterizes the labor market in the eurozone or states the inflationary growth, this can also be seen as positive for euro quotes. All these factors can give investors a hint of a near-term increase in the ECB's interest rate

11,04,2021 • Yalda

Bitcoin price

Bitcoin price is facing resistance near USD 63,000.

Ethereum surged to a new all-time high above USD 4,600, XRP surpassed USD 1.12. SOL rallied 11% and flipped ADA

Bitcoin price surpassed the USD 62,500 and USD 62,650 resistance levels. BTC cleared the USD 63,000 zone and is currently trading around this level. A close above USD 64,000 could push the price towards USD 65,500 Besides, most major altcoins are gaining pace. ETH broke the USD 4,500 resistance and traded to a new all-time high of USD 4,634 ,before correcting lower. XRP is rising and is approaching USD 1.20. ADA is still below the USD 2.00 resistance

11,03,2021 • Yalda

Bitcoin price

Bitcoin price is facing hurdles near USD 62,000.

Ethereum is stuck below USD 4,400, XRP must clear USD 1.12 for more gains. YOOSHI and SAND are up 55%

Bitcoin price attempted another key upside break above the USD 62,500 and USD 62,650 resistance levels. However, BTC failed to gain strength above USD 62,500 and trimmed gains. It is currently trading below USD 61,500, but it is stable above USD 60,000. Besides, most major altcoins are also trading in a range. ETH is facing a major resistance near USD 4,400 and USD 4,450. XRP is still trading well below the USD 1.15 resistance. ADA is struggling to settle above the USD 2.00

11,02,2021 • Yalda

Bitcoin price

Bitcoin price failed to settle above USD 62,000 and declined.

Ethereum struggled to clear USD 4,400, XRP topped near USD 1.15. RUNE and HOT are up over 18%, SHIB jumped by 7%.

Bitcoin price failed to gain momentum above the USD 62,500 and USD 62,650 resistance levels. As a result, BTC started a fresh decline below the USD 61,200 support. It is currently trading above USD 61,300 and it might continue moving down. Besides, most major altcoins are also moving lower. ETH failed to surpass USD 4,400 and declined. XRP spiked towards the USD 1.15 resistance level before a fresh drop. ADA is now trading below the USD 2.00 level

11,01,2021 • Yalda

Bitcoin price

Bitcoin price climbed above the USD 61,200 resistance. Ethereum rallied 9%, SHIB crashed by over 20%. DOGE and MANA are up by 25%-47%.

Bitcoin price was able to start a fresh increase above the USD 60,000 and USD 60,500 resistance levels. BTC climbed above USD 61,200. It is currently facing resistance near USD 62,000, above which there could be a steady increase.

Besides, most major altcoins are gaining bullish momentum. ETH rallied 9% and it even spiked above USD 4,400. XRP could test the USD 1.12 resistance zone. ADA is now consolidating above the USD 2.00 level.

10,29,2021 • Yalda

Bitcoin price

Bitcoin price settled below the main USD 60,000 support

Ethereum tested USD 3,880, XRP dropped below USD 1.00. SHIB extended its rally before dropping sharply. Bitcoin price failed to stay in a positive territory and traded below the USD 60,000 support. BTC traded below the USD 59,200 support and tested USD 58,000. It is currently trading below USD 59,000 and

there is a risk of more downsides in the near term. Besides, most major altcoins are gaining bearish momentum. ETH extended its decline below USD 4,000 and tested USD 3,880. XRP declined below USD 1.00. ADA settled below USD 2.00, and it could revisit USD 1.85

10,28,2021 • Yalda

Bitcoin price

Bitcoin price is back above USD 61,400 after almost testing USD 60,000. Ethereum returned to USD 4,300, XRP may possibly remain stable above USD 1.05. ATOM, HOT, and SHIB gained over 14%.

Bitcoin price struggled to clear the USD 64,000 resistance zone. BTC is moving lower and is currently trading above USD 61,400 after dropping to almost USD 60,000 earlier today. A downside break below USD 60,000 could put pressure on the bulls in the near term.

Besides, most major altcoins are trading in a range. ETH declined before returning to the USD 4,300 level. XRP is still trading well below the USD 1.15 resistance. ADA is facing a major resistance near the USD 2.20 zone

10,26,2021 • Yalda

New Home Sales

New Home Sales was 0.740M last month and it is expected to decline to 0.722M this month. New Home Sales reflect a dollar value of sales of newly constructed residences in the United states in the given month. The value measures new single-family home sales

Apartment buildings are excluded from the calculation. Also, houses built by land owners and houses built for leasing are not included. Economists use the indicator to evaluate the state of the housing market.

The growth in new housing sales indicates an expansion of the real estate market and the growth of the national economic activity. Owners of financial organizations use the indicator to predict near-term mortgage loan volumes. The indicator growth can have a positive effect on dollar quotes.

10,26,2021 • Yalda

Today we get German IFO

Later this week, central bank meetings are in the ECB and BoJ, none of which should be particularly action-packed, though.

Today we get German IFO figures. It will be interesting to see whether business sentiment continues to decline amid lack of supplies.

Markets will be looking out for flash prints for October inflation in the US and the euro area as well. Energy markets are in noticed this week, as high gas, oil and electricity prices continue to erode consumer purchasing powe

10,25,2021 • Yalda

Bitcoin reaches

Bitcoin reaches 67000 for a new all time high but the euphoria did not last as we test first support at 63100/63000 as expected but over ran to 62000.

Bulls must do better at second support at 60700/500. Longs need stops below 60000.

A break below here targets 58000. This is the last line of defence for bulls. A break below here over the weekend is a longer term sell signal.

10,22,2021 • Yalda

The European Union Leaders

The European Union Leaders Summit is a regular two-day meeting of 27 Member States leaders and senior officials. Press conferences and open meetings of participants are held during the event. The agenda of the Summit can be diverse

The Summit participants elect the EU officials, discuss the economic situation, set steps to resolve legal, financial and political issues, take security measures. The international situation affecting the EU economy is discussed during the Summit. Current internal programs are considered during every meeting. Journalists working at the Summit interview participants and comprehensively cover public meetings and speeches.

From the point of view of information content, the Summit is one of the key events, which allows forecasting further decisions relating to the financial and economic policies of the European Union. Depending on the events discussed at the summit, as well as political and economic rhetoric of the participants, euro quotes may change. However, this volatility is usually of a short-term nature.

10,21,2021 • Yalda

Bitcoin crawls towards

Bitcoin crawls towards the all time high at 64600/900 in severely overbought conditions. Obviously this is key to direction.

Failure to beat this level leaves an important double top sell signal in severely overbought conditions. In theory this would trigger a epic crash to 26000, 16000 and even lower in the months ahead. At this stage it seems impossible to imagine.

Ripple bottomed exactly at the most important support of the week at 10250/10200. We are holding first support at 10750/700 keeping bulls in control for today.

10,20,2021 • Yalda

US stocks wavered

US stocks wavered on Monday as worries about supply chain issues remained. The Dow Jones declined by more than 60 points while the Nasdaq 100 rose by more than 100 points.

happened after data by the US statistics agency showed the impact of Hurricane Ida and the supply chain disruptions. The data showed that capacity utilization by firms declined to 75.2% in September.

At the same time, manufacturing and industrial production declined by 0.7% and 1.3%, respectively. Stocks also reacted to earnings by companies like Albertsons and State Street. Later today, the companies to watch will be Johnson & Johnson, Dover Corporation, and United Airlines.

10,19,2021 • Yalda

Gold buyers now

Bitcoin price gained traction and surpassed USD 62,000.

Ethereum is facing resistance near USD 3,920, XRP is struggling below 1.15.

STX rallied 30%, and SHIB gained 9%.

Bitcoin price started a steady increase above the USD 60,000 zone. BTC even cleared the USD 62,000 resistance to move further into a positive zone. It is currently gaining pace and it might attempt a break above USD 62,500. Besides, most major altcoins are showing positive signs. ETH is trading above USD 3,800 and it is facing resistance near USD 3,920. XRP is facing resistance near USD 1.12 and USD 1.15. ADA corrected lower towards USD 2.15

10,18,2021 • Yalda

Gold buyers now

Gold buyers now remain wary amid increasing calls for an earlier Fed rate hike. Traders look forward to a fresh batch of the US economic releases and Fedspeak for fresh trading opportunities in gold price while the Fed sentiment will continue to lead the way.

In addition, any retracements will meet initial demand at the $1777 50-DMA resistance-turned-support, below which the 21-DMA at $1760 will come into play.

Daily closing above the critical resistance around $1796-$1799 is needed to unleash additional upside in gold price. That price zone is the confluence of the bearish 100 and 200-DMAs. The next relevant bullish target is envisioned near $1807-$1809, mid-September highs. If the latter gives way, then a fresh upswing towards the September highs of $1834 will be inevitable.

10,14,2021 • Yalda

Bitcoin price

*Bitcoin price corrected lower and tested USD 54,000 before recovering.

*Ethereum declined towards USD 3,400, XRP stayed above the USD 1.05 support. *BNB rallied over 13% and surpassed the USD 450 level.

Bitcoin price started a downside correction from the USD 57,800 zone. BTC corrected lower below USD 55,500 and it even tested USD 54,000. The price is currently (04:31 UTC) recovering and trading above the USD 56,000 level. Besides, most major altcoins are struggling to start a fresh increase. ETH is consolidating near the USD 3,500 level. XRP tested the USD 1.05 support, where the bulls appeared. ADA is struggling to recover above USD 2.15.

10,13,2021 • Yalda

Bitcoin price

Bitcoin price gained traction and surpassed USD 62,000.

Ethereum is facing resistance near USD 3,920, XRP is struggling below 1.15.

STX rallied 30%, and SHIB gained 9%.

10,18,2021 • Yalda

fundamental-analysis.section0810-1-h

Nonfarm Payrolls was 235k last month and it is expected to decline to -302k this month.

Nonfarm Payrolls present the number of new jobs created during the given month, in all non-agricultural sectors of the US economy. Indicator growth suggests that more consumers will earn money, which means that both consumption and consumer spending will grow. This stimulates economic growth.

The release of this report usually increases volatility in foreign exchange markets. Indicator growth is seen as positive for dollar quotes.

10,08,2021 • Yalda

fundamental-analysis.section0710-1-h

Canada Ivey Purchasing Managers Index was 66.0 last month and it is expected to decline to 60.7.

Canada Ivey Purchasing Managers Index (Ivey PMI) shows economic activity in the past month, calculated by the Ivey School of Business.

PMI is one of the most popular indexes closely watched by analysts. It provides operational information covering the entire manufacturing sector. It is interpreted as a leading indicator of production and inflation. Index growth is an indication of favorable changes in market conditions and can be seen as positive for the Canadian dollar.

10,07,2021 • Yalda

fundamental-analysis.section0610-1-h

EIA Crude Oil Stocks Change was 4.578M last month and it is expected to decline to -1.128 this month.

EIA Crude Oil Stocks Change is included in the weekly report issued by the Energy Information Administration of the US Department of Energy. It presents the number of barrels of commercial crude oil held by US companies.

Increase of US crude oil stocks can indicate a decrease in demand for crude oil or increase in production. Such an increase negatively affects global oils prices, though it is a short-term effect. A downward trend is only formed in the market if crude oil stocks increase steadily for several weeks in a row.

10,06,2021 • Yalda

fundamental-analysis.section0510-1-h

The Retail Sales m/m indicator was -2.3% last month and it is expected to increase to 1.6% this month.

Retail turnover reflects the sum of all invoices issued by registered statistical units for the reported period.

Retail Sales change is considered to be one of the key indicators of consumer spending and consumer activity. The latter ones affect the level of inflation in the eurozone. Higher consumer spending leads to a higher inflation and a more active economy growth. Thus, an increase in retail sales in the eurozone can be seen as favorable for the euro quotes.

10,05,2021 • Yalda

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ISM Non-Manufacturing PMI in USA was 61.7 last month and it is expected to increase to 63.5 this month.

PMI is an important indicator of economic health. The service sector contributes much to the country's GDP, therefore PMI is considered a leading indicator of a beginning recession or growth. Purchasing managers are among the first to know when the market conditions change, since they work in the short term and can evaluate a trend towards changing economic conditions. The index is released earlier than GDP and reports from the Bureau of Labor Statistics, therefore it is a leading indicator.

Growth of the non-manufacturing PMI is usually seen as positive for the US dollar.

10,04,2021 • Yalda

Manufacturing

Manufacturing PMI is one of the most important indicators of economic health. Although the manufacturing sector is not a very important component of national GDP, it is still an early indicator of a coming recession or growth. Purchasing managers are among the first to know when the market conditions change, since they work in the short term and can evaluate a trend towards changing economic conditions. The index is released earlier than GDP and reports from the Bureau of Labor Statistics, therefore it is a leading indicator.

Manufacturing PMI growth is usually seen as positive for the US dollar.

10,01,2021 • Yalda

Gross domestic product

Gross domestic product in the United States was 6.6% last month and is expected to remain unchanged at 6.6% this month.

Gross Domestic Product or GDP q/q reflects changes in the market value of goods and services produced by the domestic economy, in the reported quarter compared to the previous quarter.

The impact of GDP on dollar quotes is associated with inflation. In turn, the relationship between GDP and inflation is very delicate. In general, GDP growth is primarily connected with an increase of domestic expenditures, which may increase inflation. This growth may spur the economy and push dollar quotes upwards. However, too much GDP growth may be dangerous, since inflationary overheating leads to economy weakening. Most economists today agree that economy can be safe and stable with 2.5% - 3.5% GDP growth per year.

9,30,2021 • Yalda

The indicator characterizes

The indicator characterizes the strength of the housing market and its aggregate demand. It also enables an indirect medium-term prediction for the sales dynamics of related products, such as housing insurance or household goods.

Indicator growth can have a positive effect on USD quotes.

9,29,2021 • Yalda

Consumer Confidence Index

Consumer Confidence Index in USA was 113.8 last month and it is expected to increase to 121.5 this month.

Consumer Confidence Index displays the level of consumer confidence in the stability of the country's economy. The index is calculated by the Conference Board, the non-profit research organization. . The growth of consumer confidence suggests that people will spend more and will make large purchases . This will lead to an increase in economic activity and an increase in consumer spending. Also, the growth of consumer spending may lead to inflationary growth.

A higher than expected index growth may cause a short-term dollar volatility in the upward direction.

9,28,2021 • Yalda

Core Durable Goods Orders

Core Durable Goods Orders m / m in the United States were 0.7% last month and are expected to reach 0.0% this month.

production of durable goods takes more time than non-durables. Therefore, this report can be used by investors to prepare a forecast for the near-term load of industrial enterprises, as well to assess the potential of investment in engineering, technological production, etc.

The data is highly volatile due to the high cost of goods, that is why data for several months are usually analyzed. The growth in the number of durable goods orders can positively affect US dollar quotes.

9,27,2021 • Yalda

New Home Sales

New Home Sales in the United States was 0.708M last month and is expected to fall to 0.689M this month.

Data provided by the US National Association of Realtors is used for indicator calculation.

New Home Sales are considered to be a leading indicator compared to existing home sales. Economists use the indicator to evaluate the state of the housing market. The growth in new housing sales indicates an expansion of the real estate market and the growth of the national economic activity. Owners of financial organizations use the indicator to predict near-term mortgage loan volumes. The indicator growth can have a positive effect on dollar quotes.

9,24,2021 • Yalda

Bank of England Interest Rate Decision

Bank of England Interest Rate Decision is one of the key indicators affecting the pound sterling quotes. The decision is adopted by the BoE Monetary Policy Committee .

The interest rate was 0.10% last month.The BoE may cut interest rate to help inflation rise to a target level. Conversely, if inflation exceeds the target level, the BoE would try to make the pound sterling more expensive, for which the interest rate is raised.

Therefore, each interest rate decision of the Bank of England directly affects the quotes of the pound sterling (especially when the rate is changed). A hike decision normally leads to the growth of the British pound quotes.

9,23,2021 • Yalda

Building permits

Building permits in the United States were 1.635M last month and are expected to fall to 1.618M this month.

Economists analyze this indicator along with housing starts. An increase in the number of issued permits indicates an improved economy sentiment and an increase in construction investments. However, if the number of new home constructions is less than building permits, this may indicate unfavorable economic conditions, due to which projects are postponed.

The growth in the number of building permits can have a positive effect on dollar quotes.

9,20,2021 • Yalda

The UK retail index

The UK retail index was -0.9% last month and is expected to reach 0.0% this month.

Retail Sales m/m show changes in the value of retail goods sold in the UK for the given month compared to the previous one.

The calculation is based on a survey, which samples 5,000 retail businesses.

Being a measure of consumer activity, the Retail Sales Index growth can affect the British pound quotes positively.

9,17,2021 • Yalda

The US retail sales index

The US retail sales index was -1.1% last month and is expected to reach -0.2% this month.

The release of the Retail Sales report may have an impact on dollar quotes.

A slowdown in the growth of retail sales shows that consumers have reduced their spending level. This may lead to a decline in economic activity and have a negative effect on dollar quotes.

9,16,2021 • Yalda

The US EIA crude oil index

The US EIA crude oil index was -1.528M last month and is expected to fall to -1.817M this month.

Increase of US crude oil stocks can indicate a decrease in demand for crude oil or increase in production. Such an increase negatively affects global oils prices, though it is a short-term effect. A downward trend is only formed in the market if crude oil stocks increase steadily for several weeks in a row.

9,15,2021 • Yalda

Reserve Bank of Australia (RBA)

Reserve Bank of Australia (RBA) Governor Lowe Speech may contain information about the expected change in the bank's interest rates or in the monetary policy The Governor has access to the full information on the intentions of the Bank's Board and the opinions of its separate members. Therefore, his statements are often carefully monitored by analysts and economists. If Governor's rhetoric suggests possible developments in the future monetary policy, such as the upcoming tightening or easing, this may have a short-term effect on the Australian dollar quotes. Positive characteristics of the Australian labor market or inflationary growth statements contained in the speech can also be seen as positive for the AUD quotes. All these factors can give investors a hint of a near-term increase in the RBA's interest rate.

9,14,2021 • Yalda