Forex forecasts and market outlooks

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19.08.2019 - 13.08.2019

EUR/GBP: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (0.9099). The closest resistance level is Kijun-sen line (0.9194).

EUR/USD: general analysis

Yesterday, the EUR/USD pair was corrected to two-week lows around ​​1.1078 (Murrey [3/8]). Comments by the head of the Federal Reserve Bank of St. Louis James Bullard and US President Donald Trump supported USD. Bullard in an interview with Fox Business News noted that the inverted yield curve should remain for a certain period to be taken as a “bearish” signal.

Cisco Systems Inc. (CSCO/NASD): general analysis

Yesterday, Cisco shares fell 8.6%, renewing the 6-month low amid the publication of the report for the fourth quarter of fiscal 2019. Adjusted earnings per share were $0.83 with revenue growth of 6% YoY to $13.4 billion, higher than Wall Street expected. At the same time, the issuer's quotes were pressured by a poor forecast for the current quarter, which was caused by a slowdown in the Chinese economy.

XAG/USD: technical analysis

On the 4-hour chart, the formation of a sideways trend continues, the instrument moves within the channel formed by the boundaries of Bollinger bands. The MACD histogram is in the positive area, keeping a signal to open long positions, the signal line moves horizontally. Stochastic is in the neutral zone, the oscillator lines are pointing downwards.

Cryptocurrency Market Review

This week, the cryptocurrency market has declined significantly. Currently, Bitcoin is trading at 9800.00 (–16.3%), Ethereum at 180.00 (–19.1%), Ripple at 0.2540 (–19.7%), Bitcoin Cash is near 300.00 (–13.6%), and Litecoin is around of 73.00 (–24.4%). The total market capitalization decreased from $295 to $260 billion. Bitcoin's market share fluctuated around 68.5%.