August 16, 2021

The strength of the US dollar prevails by entering the FOMC minutes, EUR / USD falls down, and USD / JPY higher

Greenback’s popularity seems to be growing daily. Over the last ten trading days, the U.S. dollar has been steadily gaining ground relative to leading counterparts. Today, the USD / JPY announced a pretty impressive day and is currently breaking through the momentum that was formed on September 2nd. See the following table:

USD / JPY Daily chart

In the last 12 days of trading, this pair has already earned more than 400 pips. What we see here is the creation of higher and lowest declines – features of an upward trend. While we can’t yet say the pair is on an uptrend, we can’t deny the strong bouncing we recently saw in the course. The moving average of 200 days is only about 360 pips away, and the main resistance level is about 107,494, which is just over 300 pips. If the pair continues to trade at a higher level and succeeds in conquering these levels, an upward trend could very well occur.

At the moment, the strong bullish move at USD / JPY is quite extended, and if you want to enter long positions on this pair, it might be wise to wait for the first appearance to recede. Hunting for such powerful moves is often an easy way to lose money. Entering price retracement trading allows you to stop harder and hit bigger targets more easily. See these examples in the four-hour chart:


I like the determined sales we’ve seen on this pair in the last few days since it broke the 200-day moving average. Over the last few weeks, price movements in EUR / USD have been steep and without a clear direction. It seems that the pair may continue to trade slightly lower in the next few days, especially if we follow the current bullish momentum on the US dollar. Currently, the pair is quite pre-sold, and if you look at the great distance between the 20-EMA and the current market price, it confirms the current state of oversold sales of this pair. Under normal conditions, it is better to wait for some kind of correction to happen, even on a large time frame like a daily chart. Let’s look at the daily chart EUR / USD:

EUR / USD daily chart

The pair broke the bottom of this triangle today, and the lowest candle level for Brexit could be the next level of interest support. I think in the next day or two we could get a retracement that could offer good settings for shortening the pair. While we may not get a retracement to the 20-EMA on the daily chart any time soon, there should be more retracement on moving charts according to moving averages. This gives us a chance to find more stores, because entering 20 EMAs on the daily chart doesn’t happen all the time, but it often happens on the hourly chart. Traders can also trade with smaller stop losses in terms of pip distance. Let’s look at the hourly chart EUR / USD:

EUR / USD per hour

Here you can see how 20-EMA has been offering a lot of price resistance lately, and if you look at the two red circles on the chart, it’s clear that these entries are recorded at or slightly below 20-EMA (for traders trading certificate type strategies) , the entries are of high quality. We may soon have the same kind of opportunity to trade by withdrawing from the schedule. However, I’d rather see some sort of correction on the daily chart before I start looking for new features on smaller time frames, such as the hourly chart.


The price is still supported by the 20-day exponential moving average and is still clean of the 200-day moving average. My bias towards this pair is still bullish, and I am looking to buy the sauce. Here is the daily chart of this pair:

USD / CAD po satu

Here you can see that the exponential moving averages on this chart have been re-aligned, indicating that some decent bullish momentum has returned to the market. The draw can be traded by drawing any of these exponential moving averages, depending on the shape of the candlesticks formed on the pull-in. Keep in mind that it helps a lot when the exponential moving averages are all aligned, as this gives you confirmation that you are trading in the direction of the prevailing market momentum.

Tomorrow’s economic calendar

Tomorrow is a very bright day in terms of economic data. The most important event is probably U.S. crude oil supplies at 3 p.m. This could affect the USD / CAD due to the large correlation of the Canadian dollar with crude oil prices.




What is ‘Shitcoin’?


Two types of people want to know what shitcoin is. The first person to hear “shitcoin” everywhere is, “this is a shitcoin!” and “don’t stop shilling your shitcoins,” but they don’t know exactly what it means to be something of a shitcoin. The other person gets an idea of ​​what shitcoin is, but doesn’t know which cryptocurrencies are shitcoins and which aren’t. So for those who give shit, here are some definitions.

Definition of “Shitcoin”

There are several definitions:

The  a “great way to financial loss” and “kriptovaluta with no utilities or custom properties”. In other words, shitcoin is a cryptocurrency that will one day be completely worthless.

 saying that shitcoin is “a pejorative term used to describe altcoin that has become worthless. The value of shitcoin may disappear because the interest was not realized, because the altcoin itself was not created in good faith, or because the price was based on speculation. This article then further breaks down “shitcoin” with an additional 500 descriptions and analyzes.

The Quora poster “altcoin (az) considered worthless because it lacks hasznos useful features in blockchain development. Although shitcoins are considered worthless, this does not necessarily prevent them from “going to the moon”.

Which coin is shitcoins?

Nothing in this article is financial advice. I’m not a financial advisor. Please contact a professional financial advisor for financial advice.

Truth be told, however, the above definitions are very good. But in the end, it’s really the opinion of what coins are “shitcoins”. Everyone has it, right?  raises the white flag and only defines shitcoin as “any cryptocurrency that is not liked by the person talking about it”. And even that has some merit. Some people think that all cryptocurrency shitcoins.

Take Noriel Roubini, an American economist who teaches at Stern Business School at New York University. In October 2018, the term “shitcoin” really made its way into the U.S. Senate’s testimony in the Banking Committee, thanks to Roubini’s 37-page assessment, entitled 

In his testimony, he uses “shitcoin” and “shitcoins” at the same time before seeking a minor apology from the Senate for doing so, and a Google search proved the term as a nomenclature in cryptocurrency space.

In his testimony, he uses “shitcoin” and “shitcoins” at the same time before seeking a minor apology from the Senate for doing so, and a Google search proved the term as a nomenclature in cryptocurrency space.

The earliest mention of “shitcoin” on reddit appeared 7 years ago, in 2011. And according to Google Analytics, there was little interest in the word during the cryptocurrency boom from 2017-18.

Today, the word shitcoin is thrown around, referring to cryptocurrencies like ships in the ocean. It is forever part of the cryptocurrency space. There’s just something in it, as , there’s only the ring of viruses in the word that allows you to rule.

TechCrunch recently wrote an article on  an article titled, “Coinbase abandons the cautious approach, yet‘ coinbase-dabbles-in-shitcoins ’.

And if the name Meltem Demirors seems terribly familiar to you, it could be that you only watched him on national television… you talked to Congress… you explained in all seriousness what Shitcoin is.

You can view the testimony here:

So let’s end this explanation of what shitcoins are, with a little shitcoin music to play us – thanks for reading!