Forex Forecast And Cryptocurrencies Forecast For February 18 - 22

First, a review of last week’s events:

  • EUR/USD. Recall that the expert community was not able to form a more or less definite opinion on the movement of this pair last week. This was due to the lack of clarity on both Brexit and the US-China negotiations. In addition, analysts were waiting for the release of data on GDP in Germany and the EU, as well as inflation and retail sales in the US. And if Europe showed an expected growth of 1.2%, and Germany rose by 0.2% (from -0.2% to 0.0%), the data from the USA caused a strong alarm in the market. Retail sales fell by 1.2%, the maximum value in 10 years. As a result, the dollar index suspended growth and moved away from two-month highs.
    The dollar has also stopped growing to the European currency. However, if we sum up the results of the whole five-day week, the victory nevertheless remained with the “American”: having started from the level of 1.1320, the pair finished the week at the level of 1.1295;
  • GBP/USD. Pound is falling for the third week in a row. The problems associated with Brexit have been supplemented by poor macroeconomic indicators indicating a slowdown in the country's economy: the GDP growth has declined compared to the previous quarter from 0.6% to 0.2%, and the consumer price index fell by 0.3%. As a result, the pair recorded a weekly minimum at 1.2770 on Thursday.
    Then the statistics on the US economy came out and turned the trend from south to north. As a result, the British pound was able to win back 115 points from the dollar and complete the week at 1.2885;
  • USD/JPY. The Japanese currency was losing ground throughout the first half of the week, reaching the value of 111.12 yen per dollar. But then, against the background of the fall in the stock market due to the weak economic data from the United States and the US-China talks that once again reached a deadlock, the pair made a sharp reversal. Increased appetites for risk-free investments allowed the quotes to lower to the level of 110.25, after which a correction followed, and the pair froze at 110.45;
  • Cryptocurrencies. Last week, answering the question of whether the Bitcoin jerk to the height of $3,800 could be considered a harbinger of a storm, we noticed that the pair had just returned to the consolidation line (or Pivot Point), along which it has been moving for 11 weeks, beginning in late November 2018. And we were right: the consolidation continued, and the pair kept in a very narrow side corridor of $3,630-3,750 for the whole, already the 12th, week.
    The total capitalization of the crypto market has also remained almost unchanged. If it was at the level of $121.78 billion on Friday, February 9, after seven days it was equal to $120.16 billion. As for the top altcoins, in contrast to the reference cryptocurrency, they showed somewhat greater volatility. So, for example, the fluctuations range of Litecoin (LTC/USD) was about 15%, and of Ripple (XRP/USD) - about 7%.
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