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Vinit Makol
Vinit Makol
The war between Russia and Ukraine and cryptocurrency.
April 1, 2022
#edgeforex #forextrading #forexsignals #forex #trading #markets #war #russia #ukraine #international #currency #cryptocurrency #bitcoin

Bitcoin has outflanked most conventional resource classes, including place of refuge government issued types of money like the Japanese yen (JPY) and Swiss franc (CHF), which are generally viewed as international supports.

It turns out that during times of crisis, cryptocurrency began to reveal its true nature, demonstrating that it is more than just another traditional asset.

Despite the fact that cryptocurrency markets initially experienced a slump, Bitcoin has held its ground.

When the Russian-Ukrainian conflict erupted, it sent shockwaves through markets: the S&P 500 and safe-haven fiat currencies fell, while commodities prices soared amid supply disruption fears.

The correlation between BTC and the S&P 500 index has begun to weaken, indicating that Bitcoin’s role as a safe haven asset is likely to come to an end.

Bitcoin trading volumes in both the Russian rouble and the Ukrainian hryvnia peaked almost immediately after the Russian invasion, highlighting the currency’s importance in these countries.

People in Russia rushed to the number one cryptocurrency and other digital assets as the Russian national currency fell and access to the greenback was restricted during the wave of global sanctions.

Even the Ukrainian government is accepting Bitcoin, Ethereum, and USDT donations, and has already raised more than $63 million.

Ordinary people in both Russia and Ukraine are turning to cryptocurrency as an alternative to financial institutions that limit their access to foreign currency and bank accounts. As a result, people seek an anonymous system free of government intervention.

Bitcoin trading volumes in both the Russian ruble and the Ukrainian hryvnia peaked almost immediately after the Russian invasion, highlighting the currency’s importance in these countries.

People in Russia rushed to the number one cryptocurrency and other digital assets as the Russian national currency fell and access to the greenback was restricted during the wave of global sanctions.

Even the Ukrainian government is accepting Bitcoin, Ethereum, and USDT donations, and has already raised more than $63 million.

Ordinary people in both Russia and Ukraine are turning to cryptocurrency as an alternative to financial institutions that limit their access to foreign currency and bank accounts. As a result, people seek an anonymous system free of government intervention.

Tumblers are services that mix streams of potentially identifiable cryptocurrency. They are not designed for large sums of money and appear to be slow.

Cryptocurrencies such as Bitcoin were designed to be neutral. They were created in such a way that no country, government, bank, or other institution could prohibit their use.

To apply pressure on Putin’s regime, the Ukrainian government has proposed prohibiting all cryptocurrency transactions from Russian citizens, regardless of sanctions. Most crypto exchange executives have objected to the idea, citing crypto’s roots in minimal state intervention.

Geo-blocking, on the other hand, may be imposed on exchanges by legal mandate from US or European authorities.

Given that Russia is ranked 18th in the world for crypto adoption, contributes 14% of total crypto market value, and is the world’s third largest Bitcoin miner, this would be a major blow to the crypto market. So let’s hope for a change of heart.

It should not be a matter of picking sides when it comes to who can use cryptocurrency – ordinary people in sanctions-hit Russia or war-torn Ukraine. Crypto exists to serve people, not governments. It lends a helping hand to anyone in need; it brings the world together; and it knows no nationality or borders. During times of war or crisis, when government institutions fail ordinary people, crypto reveals its true nature, which is a blessing for humanity.

https://edge-forex.com/the-war-between-russia-and-ukraine-and-cryptocurrency/
Vinit Makol
Vinit Makol
Forex News April 2, 2022
April 2, 2022
#edgeforex #forextrading #forexsignals #forex #trading #stocks #nasdaq #dow #highs #declines #oil #eur #usd #cryptocurrency #bitcoin stocks

Stocks
Stocks rally into the close, snatching victory from the jaws of defeat
Major indices reverse a two-day decline
The major indices are closing higher after a late-session surge pushed the Dow and S&P to new highs and reversed NASDAQ declines.
Today’s biggest gainer was the Russell 2000 index.
The final figures are as follows:
The Dow industrial average rose 139.92 points, or 0.40 percent, to 34818.28.
The S&P 500 index rose 15.45 points, or 0.34 percent, to 4545.87.
The NASDAQ index rose 40.99 points, or 0.29 percent, to 14261.51.
The Russell 2000 index gained 20.98 points, or 1.01 percent, to 2091.11.
Looking at the major sectors in the S&P 500 index, today’s gainers included:
Real estate, +1.9 percent; utilities, +1.4 percent; and materials, +1.1 percent.
Today’s major decliners included: industrials, -0.8 percent; and technology, -0.3 percent.
The Dow and S&P 500 were little changed for the trading week. The NASDAQ increased only slightly:
Dow Jones Industrial Average, -0.07%
The S&P 500 is up 0.07 percent, while the NASDAQ is up 0.63 percent.
The S&P 500 index is closing the day just above its 100-day moving average at 4541.81, which is a positive technical development. Yesterday, the index fell back below that moving average level, but it has since risen back above it in today’s trading.
The bad news is that the Dow industrial average is still below its 200-day moving average, currently at 34996.69.
Technically, the NASDAQ index moved up to its 100-day moving average on both Tuesday and Wednesday, finding sellers ahead of the moving average level.
The 100-day moving average is currently at 14599. A move above that moving average is required to shift the bias more to the upside.
Crude Oil
WTI crude oil futures settle at $99.27, a -$1.01 or -1.01 percent decrease.
WTI crude oil futures are trading at $99.27 per barrel. This is a -$1.01 or -1.01 percent decrease.
Today’s high price was $101.75, while the low was $97.78.
The price was $113.90 a week ago today. The drop of $14.63 represents a -12.84 percent drop for the week.
The week’s high was on Monday at $112.93, and the low was today in the $97.78 range. download hit a low of $98.44 in Tuesday’s trade before bouncing back to the upside.
According to the hourly chart below, the March 30 high price has stalled right near its 100/200 hour moving averages (blue and green lines).
The holding below those moving averages kept the sellers in play and contributed to a technical move back to the downside.
EURJPY
EURJPY consolidates between 100/200 hour moving averages, the pair maintains March gains
Yesterday, the EURJPY fell below its 100 hour MA for the first time since March 9th, testing a swing area between 134.61 and 134.86, as well as the rising 200 hour MA. The swing area was modestly broken, but the 200 hour MA could not be broken, and the price rose in the Asian session today.
Today’s rise saw the price return to the 100-hour moving average (blue line), and while the price highs briefly surpassed the 100-hour moving average, the price was unable to maintain its upward momentum. The 100-hour moving average is currently at 135.72. The current value is 135.45.
The pair appears to be heading for a break between the 100 hour MA above at 135.72 and the 200 hour MA below (green line) at 134.825. That will leave the flows from next week to determine the pair’s next move.
A move above the 100-hour moving average would be more bullish.
If the price falls below the 200-hour moving average, the bias will shift to the sellers in the short term.
The battle between buyers and sellers continues between the levels.

https://edge-forex.com/forex-news-april-2-2022/
Vinit Makol
Vinit Makol
Forex News February 23, 2022

Gold
Gold is down 0.3 percent on the day to $1,893.
Gold has been one of the bigger beneficiaries in this whole Russia-Ukraine episode, but as risk fortunes start to turn, we’re not seeing a material unwind in gold just yet. However, markets frequently act first and then work out the details later.
The current situation is that Russia came out to get what they wanted, but it remains to be seen whether Putin wants to push for more. That could be the true motivation, but for the time being, markets are turning the other cheek. And, with’slap on the wrist’ sanctions, there are no major economic consequences to be concerned about.
As a result, we may see a de-escalation from here, or Russia may throw a curveball and spark more conflict.
Given how the market is currently reacting, the former appears to be what investors are leaning towards.
Price encountered resistance above $1,900 from the May to June highs last year, and the technical level is holding. This is a good level for sellers to look for gold to retrace gains as Russia-Ukraine tensions ease. Fundamentally, gold is dealing with the prospect of rising rates as central banks around the world continue to tighten policy in the coming months.
That’s not exactly a promising outlook, as evidenced by gold’s struggles in January, which has historically been the best month for the yellow metal.
AUD/JPY
The AUD/JPY pair appears to be on the verge of a breakout leg as risk fortunes improve.
The AUD/JPY currency pair is up 0.5 percent on the day, trading at 83.57.
So far, the risk mood is improving, and the aussie and kiwi, which have been particularly resilient in the last two weeks, are taking full advantage. The kiwi was boosted earlier by a more hawkish RBNZ, but it is now the best performing major currency on the day.
However, the Australian dollar is benefiting from this as well, climbing to new highs in European trading.
The AUD/USD pair is up 0.6 percent to 0.7262, while the AUD/JPY pair is up 0.5 percent to 83.57 and looking for a breakout leg to the upside.
Over the last two weeks, the forex pair has been limited by key daily trendline resistance, but now the market is on the verge of a potential breakout, which could lead to much stronger gains in the sessions ahead.
The next major resistance level will be the 10 February high of 83.99, but this will be tempered by the possibility of a more hawkish RBA tilt in the long run.
Switzerland
· Switzerland Credit Suisse investor sentiment in February 9.0 vs. 9.5 previously.

· Credit Suisse and the CFA Society Switzerland have released the most recent data. Prior to 9.5.

· The current conditions index is seen holding up somewhat at around +44.6 from +50.0 in January, despite a slight drop in the reading. This suggests that financial analysts see the current economic situation as relatively positive, though the report suggests that they are becoming more pessimistic about the equity market.
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