Global :Gold: Analysis Today Thursday, June 24

Global Gold Analysis Today Thursday, June 24

On Wednesday, gold had another bullish day, largely driven by sentiment over the US dollar and the Fed's monetary policy stance. The gold price broke the trend and reached its highest daily rate after hitting the PMI index of market services and the new rate of home sales in the US eased inflation concerns and severely affected the US dollar index. Reached $ 1795.

 The selling pressure created during the last week and the subsequent downward consolidation trend has led to the formation of a flag pattern. The closing of the daily price below the support level of the uptrend at $ 1768 confirms the downward failure of the continuing pattern.

After that, a defense line at the lowest level of the last two months, the level of $ 1761, will be waiting for this precious metal. If this level is crossed, the $ 1750 psychological barrier will be activated.

As the downtrend continues, the lowest price level recorded in mid-April, around $ 1,725, could temporarily stop the cows. The relative resistance index (RSI) is falling towards the saturation territory at 32.71 and indicates that there is still a possibility of price reduction.

As the downward trend intensifies, the price of gold will be on the verge of confirming the formation of a "cross of death", while the daily moving average of 200 (DMA) from above will cut the daily moving average of 50.

On the other hand, if buyers manage to stabilize above the $ 1794 level, the 100-DMA cross and support of the downtrend line will lead to the failure of this pattern.

In this uptrend, the highest price recorded on June 18 at the level of $ 1797 before the re-touch of the level of $ 1800 is on the agenda of cows.

Is bitcoin mining by {volcanic energy} happening in El Salvador?

Is bitcoin mining by volcanic energy happening in El Salvador?

El Salvador President Najib Abu Quilla announced on Twitter that he had instructed LaGeo, the state-owned heating company, to come up with a plan to extract bitcoins using volcanic energy.

The idea was suggested to Najib Abu Kiley today in a live audio conversation on Twitter.

There are about 20 active volcanoes in the country. The Chaparrastique volcano has erupted 25 times in the last 500 years.

El Salvador's geothermal energy is completely clean and renewable.

In the early hours of Wednesday, a majority of lawmakers voted in favor of President Nayib Bukele's plan to use bitcoin in Latin America. Also in this country, from now on, anyone who invests 3 bitcoins in the El Salvadorian economy can obtain permanent residence.

In addition, El Salvador holds approximately $ 150 million in bitcoin in its trust fund.

South Korean money changers reopen cryptocurrency face-to-face shopping centers

South Korean money changers reopen cryptocurrency face-to-face shopping centers

Coinone and Bithumb have both reopened their customer centers in the capital in response to growing domestic interest in cryptocurrencies.

Coinone Exchange, one of the top four cryptocurrency exchanges in South Korea, has reopened its offline customer center in Seoul. According to a report in The Korea Herald on April 29, the center initially opened in September 2017, but has since closed due to the company's decision to focus on other business activities.

Currently, with an increase of 20 times more than usual registration of new users of the cryptocurrency exchange in the first quarter of this year, this exchange will resume its offline services for customers. At the end of this month, the Herald reported that Coinone had reached 2 million users.

In addition to reopening an offline hub, Coinone has reportedly doubled its staff to meet information needs and help a wide range of new customers.

The trend seems to be expanding to resume face-to-face customer service in South Korea, with Bithumb, the country's second-largest exchange, opening an offline hub in the capital earlier this week. The Korbit exchange is reportedly considering a similar move.

These developments show the rising atmosphere in the South Korean digital currency market, where the price of Bitcoin is recently trading with a new "Kimchi premium" that rises to the highest price of the year. The craze for cryptocurrencies has apparently spread to domestic stock prices as well. Meanwhile, companies holding shares in some of the country's top cryptocurrency operators have seen significant gains in recent weeks.

Analysts predict that the Kakao Forum in South Korea, which owns cash shares in Upbit and Dunamu and is active in the cryptocurrency and blockchain industries, is likely to reap the benefits of Korea's rising cryptocurrency market next year.

Verge cryptocurrency Wednesday, April 28

Verge cryptocurrency Wednesday, April 28

The verge cryptocurrency has been improved based on the original bitcoin and aims to achieve the best business way to conduct direct transactions with respect to the privacy of individuals.

verge is designed for everyday use.

Distinctive features of verge

1) Verge uses several anonymous networks such as TOR and I2P. Blocks users' IP addresses and its transactions are undetectable.

2) Verge is not a private company funded by mining coins or ICOs. All development and marketing is supported by thousands of community members.

3) Trading speed is very fast compared to other coins. Simple SPV payment technology allows trading time to be reduced to 5 seconds.

4) The verge development team is very active and is always in close contact with the community and the people who use Quinn. So you can easily access the original developers for support or new ideas about verge.

5) This system offers a wide range of secure wallets for several operating systems. The Tor Android Wallet application has created a revolution among the wallets offered in the Android system.

6) The verge currency is decentralized and based on an open source platform and there is no central control over the coins. This currency has seen a tremendous price increase.

And in the future it will play a decisive role among digital currencies, and forecasts continue to testify to the further growth of this currency.

Economic calendar Tuesday, April 27

Economic calendar  Tuesday, April 27

The three main drivers of the financial markets in the coming week

The three main drivers of the financial markets in the coming week

Forex market analysis

Global financial market traders and investors are facing a busy week. Macroeconomic data along with corporate financial statements will be the main driver of the market. In the meantime, three main and key questions have occupied the minds of market participants.

Will the rapid growth of inflation become a big problem?

Inflationary pressures have long worried investors. Rising demand, coronary disruptions in supply and rising production costs could significantly increase inflation in 2021. Last week, the US Producer Price Index (PPI) rose faster than market forecasts. Many analysts believe that the rapid growth of inflation is not the only problem of the US economy and the whole world will be affected by the rapid growth of inflation.
But it is not yet clear whether inflationary pressures will be temporary, according to the Federal Reserve. Now everyone is worried that inflationary pressures in the manufacturing sector will soon spread to the consumer sector. US Consumer Price Index (CPI) data will be released this week. The rapid rise in inflation can lead to an increase in the yield on treasury bonds and the fall of risky assets such as stocks.

How confident are American consumers of the economic situation?

As the US economy returns to its full potential and coronary restrictions are lifted, it remains to be seen to what extent American consumers are satisfied with the status quo and confident in their financial future. In the Corona crisis, the US government spent a variety of financial packages to support the consumer sector, and recent US employment growth has been remarkable. Because of this, American consumers may be more inclined to spend. The US retail index is expected to jump sharply. Growing consumer spending could be good news for stock markets. But if the retail index does not grow despite rising inflation, the worst-case scenario for the US stock market will be realized. In this scenario, the US economy will face a stagflation.

Will the profitability of banks increase?

The financial statements of the stock companies will be published this week and the main focus of the market will be on the banking industry. Major US banking and investment corporate reports are released on Wednesday, and if these reports are promising, we can expect strong risk aversion in the stock market.

An overview of the cryptocurrency market Saturday, April 3

An overview of the cryptocurrency market Saturday, April 3

Bitcoin dominance falls to its lowest level in 7 months

While most alternative coins have made significant gains over the past few days, bitcoins have stopped below the 60,000 level. The first cryptocurrency in the market has been struggling with this particular price line for some time, but all its repeated attempts to overcome this resistance have failed every time and pushed it down.

In the last 24 hours, BTC was only a few hundred dollars away from touching $ 60,000 again, but subsequent corrections reduced the asset to its lowest daily level of $ 58,500.

Despite recovering several hundred dollars worth of bitcoin and trading above $ 59,000 at the time of this writing, bitcoin dominance has suffered a major blow. In fact, the benchmark for comparing the BTC market value with other encrypted assets has dropped to 58.4%. This is the lowest level of bitcoin dominance in the crypto market since mid-September 2020. It should be noted that this criterion in early January 2021 was much higher than 70%.

Polkadat ranks fourth in the market

The last few days have been quite bullish for the Altcoins market. Atrium has led the way with the formation of several consecutive daily green candles, and as a result of these developments, it was able to conquer the territory of $ 2,000 again yesterday.

Of course, the market's second cryptocurrency did not stop here and continued to advance until a new downturn of around $ 2150 (on Bitstamp). Despite some modifications since then, ETH is still trading above $ 2,100.

Bainance Quinn fell slightly from yesterday's record above $ 350 and traded around $ 340. Cardano and Theta have had minor gains, while LightQueen (6%), Ripple (12%) and Uni Swap (11%) are all green.

Nevertheless, Polkadat had the most significant performance among the top 10 currencies in the market, with a significant increase of 22% on a 24-hour scale. As a result, DOT became the fourth cryptocurrency in terms of market value, setting a new record at $ 46.5.

Double-digit growth in tokens such as Holo (57%), Livepeer (42%), BitTorrent (19%), EOS (14%), Solana (13%) and Cosmos (12%) is also significant.

Finally, the total market value of cryptocurrencies remains above $ 1.9 trillion, but it is still about $ 30 billion before it touches $ 2 trillion for the first time.

Economic calendar Tuesday, March 16

Economic calendar  Tuesday, March 16

Micro-investor opinion: Cardano is higher than Bitcoin

Micro-investor opinion: Cardano is higher than Bitcoin

According to a recent survey by cryptocurrency broker Voyager Digital, US investors' outlook on Cardano (ADA) is much higher than that of the market's leading cryptocurrency, Bitcoin (BTC).

The company's digital asset investor sentiment poll, first published by the Decrypt news website, shows that 31.9% of investors surveyed are more bullish than Cardano, while 22.2% are BTC. Have been selected instead of ADA. The results came as Cardano hit a record low of $ 1.5 last month, becoming the fourth-largest currency in terms of market value.

Steve Ehrlich, CEO of Voyager Digital, said:

"Sure, everyone is talking about bitcoin these days, but to name Cardano ahead of the currency is really a big surprise."

Ehrlich added that this sentiment reflects the "passion" that the company's users have for cryptographic assets. After Bitcoin, investors had the "most bullish outlook" on Atrium (12.2%) and Polkadat (6.3%). According to him, the results show that the diversity in the cryptocurrency ecosystem has increased, because investors have more assets to choose from.

The survey of 1385 investors in the United States found that most participants expect the price of bitcoin to reach $ 51,000 to $ 60,000 by the end of this month, in addition to the fact that 80% of respondents said they intend to Buy more bitcoins this month.

The results of the Cardano poll were somewhat predictable, as the cryptocurrency has risen more than 500 percent this year, drawing the attention of small investors.

It is worth mentioning that the search for this cryptocurrency also exceeded the highest figure recorded in 2017 last month, and since then, this upward trend has continued. A Google search for a cryptocurrency is often used to assess the interest of small investors in that currency.

Cardano's price has risen to $ 1.11 after a massive correction from its highest price level of about $ 1.5.

Check the EURUSD trend

Check the EURUSD trend

The short-term trend of the euro against the US dollar is declining. An uptrend starting at $ 1,2348 could push the EURUSD pair to the 100% Fibonacci level at $ 1,1845. EURUSD is expected to form a price floor around these levels. From the buyers' point of view, if the EURUSD crosses above the $ 1.90 resistance level, the short-term market trend will be neutralized. A break of resistance at $ 1,212 will confirm the formation of a short-term price floor. However, if the EURUSD falls below $ 1.1845, the downtrend will pave the way for the Fibonacci 38.2% correction at $ 1.1694.