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EUR/USD Exhibits Bearish Signals as it Plummets Below 1.100

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  • EUR/USD breaks the bullish uptrend as it plummeted below 61.80% Fib Retracement Level and gives a weak momentum at present due to aggravating of global crisis
  • The new quarter started with a subtle downtrend as Euro slid below 1.100 price marks and failed to remain afloat against the US Dollar
  • Over the past week, the pair mounted to a weekly high of 1.11483 and holds strong weekly support at 1.06641
  • The selling pressure remains dense as the pair faces intraday accumulation yet plummets

EUR Analysis

Taking a glance at the half-hourly movement of Euro against the greenback, we see that there is a trend reversal after a week of bullish divergence. However, we have seen a break in utter bearish signal as the price is seen accumulating yet plummeting.

This has led to losing the traction as the 50-day, and 200-day support fails to suffice yet manages above 61.80% Fib Retracement level. The bearish ring intensifies as the signal line has crossed above the MACD line showing a bearish pull.

However, on the upside, the major resistance for EUR/USD to look out for lies at 1.104, followed by 1.11 and 1.115, while the support lies at 50.0% Fib Retracement level.

Brrr Token Team & Set Protocol Platform Launch BRRR Tokenset

The Brrr token community, in association with the team of Set Protocol, has announced the highly anticipated launch of the Money Printer Go Brrr Set on its portal. The Tokenset is being branded with the ticker symbol of $BRRR and has been introduced as an ERC-20 Social Set.

According to the official blog post released by the participating teams, the launch of the first Ethereum-Bitcoin Tokenset has been undertaken with a core aim to cater to the requirements of the largest monetary and potential fiscal ecosystem ever introduced since time unknown. To attract more and more customers to the platform, the team has launched the BRRR Tokenset with an introductory 0% buy fee charges for all the new users of the Set platform.

The Set Protocol team has unveiled the new Tokensets under its advanced algorithm mechanism, Amrullah Deep Liquidity or ADL. The algorithm pedagogy is a team effort of some of the most experienced software techies’ who have put in their expertise in deep learning algorithm development that spans for a period of more than five years. “Quant models can generate outsized risk-adjusted returns. It uses math to place the right trades at the right time with the right size,” quoted the team during an interaction.

The investors are willing to invest in this Tokenset need to wrap their Ethereum and Bitcoin assets into the newly launched Set. For those who do not have Ethereum or Bitcoin, they can use other cryptocurrencies like DAI, USDC, or LINK in a simplified one-step mechanism. The ADL algorithm will aid the users to automatically re-balance between Ethereum or Bitcoin. Rebalance refers to the process of realigning the weights of tokens inside a Set to the Set’s target weights. The process involves supplying of undercollateralized component tokens to the Set and receiving over collateralized tokens in lieu. During the auction period, the funds are never in a locked state. As each Set holds the native token in its vault, holding the Set for a long period of time will not require the users to indulge in any additional processing steps.

The platform has launched a new feature named the Streaming and Performance Fee. It helps to in alignment of incentives with Set holders. The fee is paid to clear off the insurance premium that is offered to the users. The performance fee indicates the percentage of profits taken by the Set creator when the Set’s value crosses its high-water mark. On the other hand, the streaming fee charge serves as an annualized fee on the total market cap of the set that the Set creator may accrue at any time.

GBP/USD Turns Flat; Yet Manages to Stay Above 1.22

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  • GBP/USD continues to move flat as the price accumulates around 1.235 as it lacks a direction to trade for the second day of the week, on March 31, 2020
  • This price accumulation seems to be a result of the aftermath of a rally that happened over the previous week
  • The directionless trend remains afloat above 61.80% Fib and has lost 1.07% from the weekly high of 1.24889

GBP Analysis

Taking a glance at GBP price against the greenback over the past week, we see that the pair has been stuck with accumulation above 1.220 due to a lack of steady momentum. The pair is drawing a narrow price range after a notable rally, and higher high trend as the global crisis does not take any stance to curb. The Great Britain Pound lacks support from 50-day and 100-day daily moving average, while, retains support from 200-day MA around 61.80% Fib. On a half-hourly chart, the pair has retraced an intraday low at 1.22423, until the time of writing.

Nonetheless, we have even observed a notable uptrend ahead of this stagnation, which is likely to be the result of soaring Coronavirus cases in the United Kingdom. Therefore, the trend is either flat or bearish, and a further breakdown will test support at 1.215, followed by 1.210. However, on the other side, if the pair breaks upsides, it is likely to retest weekly resistance at 1.248.

KuMEX Launches USDT-Margined Bitcoin Perpetual Contract

KuMEX, the leading derivatives division of globally acclaimed KuCoin crypto exchange, has announced the news about the launch of the USDT-Margined Bitcoin Perpetual Contract to enrich its global customer base with new operational capacities. The news was circulated in the crypto community by the exchange team through a tweet on its official Twitter handle. The post read:

According to the latest official reports, each USDT-Margined Bitcoin Perpetual Contract will be valued at 0.001 BTC along with the maximum leverage bar offered up to 100x. The investors operating on KuMEX will be allowed to deposit and transfer the USDT directly to their contract account to kickstart their contract trading for the newly launched perpetual contract. The introduction of USDT perpetual contracts on KuMEX is succeeded by the exchange platform hitting the average daily trading volume of a whopping $100 million.

The KuCoin team stated that the exchange ended up onboarding USDT as the first stablecoin supported by the platform as it is ‘far more stable’ in comparison to USDC or PAX in terms of market capitalization, liquidity, and user recognition. Johnny Lyu, the CEO of KuCoin Global, affirmed that the USDT perpetual contracts would be “clearer and easier for new futures traders to make investment decisions using USDT.” He added that the contracts should play a significant role in reducing the risk of volatility, which is predominant in the case of non-pegged virtual currency tokens.

The past few months have seen overall growth in crypto derivatives trading, perpetual contracts trading, etc. in the marketspaces. Binance revealed a whopping increase in trading volumes concerning perpetual futures contracts for January 2020. The reports signified that the BTC/USDT perpetual contract evolved as the most popular futures contract in January with a record return of 30%.

AUD/USD Caught in a Choppy Market; Yet Remains Afloat Above 61.8% Fib

  • Aussie Dollar extends its dip against the greenback as the global crisis, and economic crash digs deeper losses in the market
  • We are likely to see a potential downtrend forming between the price rally that started from the previous mid-week due to increasing cases of novel Coronavirus around the world
  • However, the price trend manages to remain above 61.80% Fib Retracement level as is managing to be within the uptrend formed

AUD Analysis

Not just this pair, but the major currencies like Great Britain Pound, Canadian Dollar, and investment assets, including Gold, are seen plummeting due to an increase in the duration of lockdown in many countries including the US, which has now exceeded the toll of infected people in compared to the epicenter.

AUD/USD is forming a potential higher high trend if it does not extend the dip below 61.80% Fib. The pair had been continuously gaining until it got hit by a choppy market towards the end of the previous week, which has limited the gains until it takes an intraday bullish divergence.

However, before it fell to the current trading zone of 0.6133, it marked a fresh weekly high at 0.62008, after which the trend is exhibiting potential higher lows. Since the dip is not below 61.80% and 50.0% Fib, the Aussie is retaining the support from 50-day and 200-day daily moving average against the American Dollar.

IOTA Foundation Hires Bill Acha; Partners With TradeMarkEastA to Provide Efficient Audit Trail

IOTA Foundation has announced the news about the entry of a new member, Bill Acha, in its core ecosystem. Bill Acha shall be delivering his services as a software engineer of the IRI team. The news of the new recruitment was announced through an official blog post by the IOTA Foundation team.

Being a well-known fraternity name, Bill will put in his expertise and knowledge to chalk out protocols focused towards the maintenance of the IRI division as well as will play a significant role in laying a foundation for new developmental features enhancing the IOTA node, as and when at the firm’s disposal.

On the personal front, Bill hails from Douala, Cameroon and has been in the technology sector for five long years up until now. In 2017, he was graduated with a degree of Bachelors in Computer Engineering from the University of Buea, Cameroon. He has an affinity towards complex algorithms and has been boggling his head with codes ever since 15 years of age. Bill is quite passionate about the design of scalable and efficient APIs that have the potential to solve real-world problems. In the past, he has been associated with health and financial tech sectors as a full-stack developer for corporate as well as open-source organizations.

Bill on sharing his happiness for his new journey in IOTA Foundation quoted,

It’s a great opportunity to contribute my skills and passion to IOTA, a DLT space that is focused on building cutting-edge solutions. I’m excited to have joined such a diverse team, and I’m glad to be part of this journey!

IOTA recently announced its collaboration with TradeMarkEastA to enhance the infrastructure and trading activities in Africa via the IOTA Tangle solution. The partnership between the two firms will be focused on streamlining the supply chain management involved in trades from one place to another. It aims to control the approximate 4 trillion loss, which occurs during transit. The new technology will help the involved parties to be well-connected with each other using GPS protocols, smartphone technology, and all high-tech and advanced mechanisms. IOTA envisions to enhance the global supply chain structure by providing an immutable, secured, and transparent audit trail. By doing so, all the nodes involved in the process shall be enriched with the complete knowledge about ‘how, when, why’ of the products rolling in the supply chain.

EUR/USD Maintains a Bullish Streak as it Retraces a 10-day High

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EUR/USD bounces to a 10-day high as it retraces above 1.10 to the high of 1.11473 as it retains support from 50-day and 200-day support. The pair has been marking a winning streak since the start of the year and has been on a bullish note amidst the global crisis when all the other currencies are facing a tough time to keep up against the greenback. However, as there have been rapid cases recorded in the US, we see the US Dollar weakening moderately since yesterday.

EUR Analysis

The pair has bounced sharply and formed an upward channel while it retains strong and steady support at 1.10250 and 1.08360. It has been 2 days since the EUR/USD has been closing above 1.110 on a strong bullish note. There has been a gradual rise from the weekly bottom of 1.06378 and is holding a bullish crossover as the MACD line is crossing above the signal line, and the RSI of the pair is hitting at 69.51 with is likely to breach the overbought zone. However, if the pair continued to maintain this rising streak, the buyers are likely to control and maintain ground in the next week.

USD/CAD Extends the Dip as Crude Oil Faces Intraday Pullback

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USD/CAD drops below 50-day and 200-day moving average due to intraday pullback in the price of WTI crude oil. The pair has retested 1.40 after a 10 days retreat where USD/CAD marked a 4-year high at 1.46722. As the demand for oil plunges due to widespread of Coronavirus and extension of lockdowns in the country, the related current faces intraday correction. The global recession is digging deeper as the COVID’19 is not likely to leave any sooner. That said, the Federal Reserve has injected a $2.2 trillion stimulus package in the economy to extend hands amidst the pandemic outbreak.

CAD Analysis

After marking a bullish move at 1.46722, USD/CAD became the prey of 4-day, a subtle trend followed by a steep move to currently hover around 1.40250. Towards the end of the downtrend, the pair lost support from the 50-day and 200-day moving average as the greenback weakened. This has rightly burdened the sight of the American Dollar as the US surpasses the coronavirus cases in comparison to the epicenter of the virus.

USD/CAD failed to keep afloat and recorded a 1.75% low from yesterday’s trading session high marked at 1.4276 to the current price at 1.40250. Moreover, the pair has already slid below the 61.8% Fib retracement level as it slides below 1.4175. The major support to watch out at remains grounded at 1.39; however, a further change in the oil price, either negative or positive, is likely to be the major catalyst for the pair’s intraday performance. On the contrary, if the pair retraces a positive intraday move, there is likely to be an S/R flip as 61.8% Fib will be the resistance to look at.

Binance Launches “Binance Card”; Now Shop and Pay Crypto Anywhere

Binance is excited to launch the Binance card and take crypto adoption one step further. Binance has always been aiming to bring new products and services to the market that enable the progress of crypto in the market. 

Introducing Binance Card 

The Binance Card is capable of doing everything that a normal payment card does. It works like a regular debit card issued by the bank. The user has to just get a top-up recharge for the card to add funds through the Binance Card App in the form of Bitcoin or BNB. The transfer process is as simple as transferring BNB from one wallet to another. 

The card uses the wallet balance for the payments done by card and automatically deducts all extra expenses from the balance every time the user makes a payment. The Binance Card is issued by Visa and accepted by more than 46 million crypto merchants offline and online in 200 regions and territories, which makes shopping with crypto easier.

Where Do You Get Binance Card? 

Binance is currently releasing the Binance Card in the beta version. In the coming weeks, it is aiming to make the card available globally to all the existing and new binance users. 

The card will initially be released in Malaysia, followed by Vietnam and gradually to other countries. 

To get a Binance Card, one has to register through the landing page. The users will be notified once the card is available in their respective regions. The users just have to download the Binance Card App, log in to their Binance accounts or register for a new one, and complete the simple and secure identity verification process. 

The users have to place the order for the card at a one-time cost of 15USD which is used as initial top-up from the crypto wallet to the Binance Card balance. The users have to just transfer 15USD worth of BNB or BTC to their card balance. There are no monthly or annual charges for card usage.

How to Use the Card After its Arrival? 

The users need to use and take control of the card within the interface of one single application. The Binance Card App enables you to manage your funds, card security, and spending with only a few clicks. Once the new card arrives, it has to be loaded with funds. The user has to just transfer Bitcoin or BNB from the Binance.com wallet to the Binance Card wallet and that’s it, the card will be ready to use.  

Shopping online and paying bills with crypto is no longer a daunting task. A lot of merchants now offer crypto payment services for specific methods or make the payments and take crypto. The alternate method is to sell crypto and wait for the withdrawal to arrive at your respective bank account. Binance aims to provide better services to users to make life easier for them.

SofocleLabs Partners With IMS Engineering College for Blockchain Courses

Sofocle Innovative Labs, a Blockchain EdTech company based around Noida has announced to collaborate with IMS Engineering College to provide Blockchain education. 

This partnership aims to create a better blockchain ecosystem that enables Indians to be ready for the Blockchain revolution. The collaboration primarily ideates to provide a course for full semester, a Blockchain Lab, industry connect, internship and exposure to hackathons, conferences, and events.

Ever since the disclosure of the partnership, the engineering students are giving an overwhelming response and more than 100 students have already enrolled in this course.

This is the very right time, to begin with, the partnership and encourage blockchain education amongst the youth. The adoption of blockchain education is slowly becoming one of the most important IT initiatives of the current decade, which has increased the demand for blockchain professionals. 

The Professor of IMS Engineering College, Pankaj Agrawal said,

Such a course will change the job/placement paradigm for the students where instead of students looking for the jobs, it is the industry that would be chasing them and many students will be taking the entrepreneurship route.

He further said that the partnership with Sofocle Innovation Labs will help ensure steady growth and build a virtual Blockchain Lab and innovation Center with a semester course. The course will be led by an expert team of Blockchain professionals.  

The CEO of Sofocle Labs, Jeevan Saini stated, 

Sofocle Labs offer the way for universities and colleges to set up an innovation hub for inculcating the culture of innovation in harnessing the power of emerging technologies like Blockchain. Our course has been designed using an analytical and hands-on approach to Blockchain, so as to enable the budding engineers to become proficient Blockchain engineers and architects of tomorrow.

The traditional forms of Blockchain course are highly instructive and at times, lags behind the rapid changes happening in the core technology and the application technology on the whole. Sofocle Labs is administered by a team of blockchain professionals with an experience of more than 4 years who are consistently working to provide impeccable solutions and products using blockchain technology. 

Few of them are: 

  • A virtual blockchain lab that helps the learners to develop and place blockchain apps and nodes. This lab is powered by the Zeeve Platform, a leading Blockchain automation platform in the world. 
  • Blockchain courses that are up to the mark and provide Code Repository of Industry Solutions 
  • Capstone Project
  • Hands-on training led by Blockchain experts
  • Blockchain examination and Industry Recognized certification. 

Blockchain technology is creating waves in various sectors that include banking and financial services, supply chain, insurance and healthcare. As per speculations, made for the future status of the blockchain industry, it is estimated that the world will invest around $3.1 Trillion in blockchain by the year 2030 and by that time 91% of the IT infrastructure globally will be based on the blockchain system.