Daily Market Analysis and News From NordFX

Forex and Cryptocurrency Forecast for September 13 - 17, 2021


EUR/USD: Eurozone QE Recalibration

The ECB meeting on Thursday 09 September went off as expected with no surprises. The interest rate remained unchanged at 0%. The European regulator has proposed a “dovish” reduction in the monetary stimulus program (QE). More precisely, according to Christine Lagarde, the bank's governor, it is not even about “tapering” but “recalibrating” the program. And the decline in asset purchases in Q4 is just a reversal of the decision made in March to increase them. In doing so, the ECB remains flexible, and may change the pace of purchases early next year if necessary.

It is likely that the regulator does not want to take any sharp moves until its meeting in December, when it will have to present a clearer plan to wind down QE. In the meantime, it will monitor the development of the situation. The results of the parliamentary election in Germany, which will be held on September 26, will be of great importance. Especially since this will be the first election since 2005 in which the Christian Democratic Union will not be led by Angela Merkel.

In addition to the “recalibration” decision, the ECB raised its 2021 forecast for Eurozone GDP from 4.6% to 5.0% and for inflation from 1.9% to 2.2%. At the same time, the bank expects consumer price growth to fall to 1.7% in 2022 and 1.5% in 2023. This suggests that its ultra soft monetary policy will last for a very long time. And there is no need to talk about raising interest rates earlier than the end of 2023 - early 2024.

Economic growth sides with the bulls on the EUR/USD pair, while the monetary policy sides with the bears. There have been no clear signals from the ECB, and they are unlikely to arrive until December. Therefore, the market will still be waiting for them from the US Fed to decide which currency to prefer.

The long life of the European QE program has been mentioned above. The Federal Reserve may begin to cut its QE already this year and complete it by the end of 2022. This view is held by the hawkish lobby in the leadership of the US Central Bank. FOMC member Michelle Bowman has even specifically stressed that disappointing employment statistics for August would not get the Fed out of the way.

This balance of strength plays on the dollar side and should send the EUR/USD pair south. At the moment, 50% of experts agree with this, supported by graphical analysis. The pair finished last week at 1.1810, and now it is expected to be supported at levels 1.1800, 1.1750, 1.1705 and 1.1665. 15% of analysts expect the pair to consolidate in the 1.1800 zone, while the remaining 35% are looking north. Resistance levels are 1.1845, 1.1908, 1.1975, 1.2025 and 1.2100.

The indicators on D1 are as follows. Among the oscillators, 50% point north, 10% south, and the remaining 40% are neutral. Among trend indicators, 35% are colored green, 65% are colored red.

The US economic calendar next week looks quite busy, and all the important statistics will be focused on the country's consumer market. The Consumer Price Index will be released on Tuesday, September 14, retail sales on Thursday, September 16, and the University of Michigan Consumer Confidence Index will be released the following day.

GBP/USD: Movement with Almost Zero Result


Having drawn a parabola with a low of 1.3725, the GBP/USD pair returned on Friday September 10 to almost the same place it started on Monday (1.3865) and ended the five-day run at 1.3830. It never managed to break beyond the central part of channel 1.3700-1.4000, where it has been intermittently since February 2021.

If it continues to move north (this scenario is now supported by 60% of analysts), then the nearest strong resistance will be met at 1.3909, then 1.3960, 1.4000 and 1.4100. The bulls aim to refresh the June 01 high at 1.4250. In case of the opposite development (30% of experts' votes), it will be supported in zones 1.3730, 1.3665 and 1.3600. The remaining 10% of analysts vote for a sideways trend.

As for the oscillators on D1, 70% are colored green, 15% have taken a neutral position, and another 20% indicate that the pair is overbought. In trend indicators, like a week ago, the greens win 9-1.

Events in the coming week include the release of unemployment data in the UK on Tuesday, September 14, and statistics on the country's consumer market on Wednesday, September 15.

continued below...
 
USD/JPY: Another Zero Result Pair

Being a safe haven, the USD/JPY pair has been moving along the 110.00 horizon since last March, making rare attempts to get out of the 108.30-111.00 trading channel. So this time again, having started the five-day week at 109.70, it ended the week almost at the same place where it began, at the level of 109.85. Moreover, the trading range has become even narrower, keeping within 85 points: from 109.60 to 110.45. Those who are actively trading are hardly happy with such volatility. Although, on the other hand, it allows you to quite accurately place Stop Loss and Take Profit orders and taking into account the minimum spreads and leverage up to 1: 1000, you can make significant profits with the NordFX broker even in such a narrow corridor.

The experts' forecast for the near future looks like this: 50% of them side with the bears, 15% - with the bulls, and 35% have taken a neutral position. As for the indicators on D1, the red ones have 60% advantage among oscillators, the green ones have 10%, and those that have taken a neutral, grey position - 30%. Trend indicators have a 50-50 draw.

Support levels are 109.60, 109.10, 108.70 and 108.30. The bears' dream is to retest the April low of 107.45. The nearest resistance levels are 110.00, 110.25, 110.55, 110.80, 111.00 and 111.65. The ultimate goal of the bulls is still the same: to reach the cherished height of 112.00.

CRYPTOCURRENCIES: September 07: Rainy Day

The past week on the crypto market can be reduced to one day, Tuesday September 07. A law came into force in El Salvador on that day recognizing bitcoin as a legal means of settlement on par with the dollar. The country's young president, Nayib Bukele, twitted about this three minutes before midnight local time. “In three minutes we will go down in history,” he wrote. Earlier, the head of state confirmed that the government of El Salvador acquired the first 200 BTC. Bitcoin has been rallying since July 20 and has jumped above $52,000 since this announcement.

Roughly 20% of the country's GDP comes from remittances that Salvadorans working abroad send to their relatives. The huge commissions in USD that have to be paid are extremely unprofitable and enrich the US financial structures. This is what has been one of the main reasons for bitcoin adoption. However, for most Salvadorans, a third of whom do not even use the internet, digital assets still remain a mystery behind seven seals. According to surveys, about 70% of the population fear the innovations, and pensioners believe that the government wants to take away their USD pensions in this way. The result of these concerns and misunderstandings were protests and demonstrations that swept across the country.

The World Bank refused to support the initiative of Nayib Bukele, which jeopardizes the receipt of tranches from the IMF. According to analysts, El Salvador does not have specific laws to address the many nuances of bitcoin use, increasing the risks associated with money laundering and terrorist financing . And leading rating agencies such as Fitch believe El Salvador's insurance industry will be particularly hit. Bonds rated B- are already circulating in it, and now the situation will be aggravated by the presence of an unstable cryptocurrency.

September 7 clearly showed how unstable it is. In a matter of hours, bitcoin prices fell 18%, from $52,870 to $43,205, dragging down the entire crypto market.

Then the leading cryptocurrency managed to win back some of the losses, and it is trading in the range of $45,000-46,000 per coin at the time of writing the review, on Friday September 10.
The Crypto Fear & Greed Index has shifted into the fear zone, dropping from 74 to 46 points. The total crypto market capitalization fell below the important psychological level of $2 trillion to $1.975 trillion by September 08, but then rose to $2.100 trillion by the end of the working week.

Despite what has happened, many experts are still positive about the prospects for both bitcoin and ethereum. For example, senior strategist Mike McGlone called the $100,000 mark for bitcoin and the $5,000 mark for ethereum as "the path of least resistance" in the September Bloomberg Crypto Outlook report. “Crypto assets enter a renewed second-half year bull market after a serious drop from previous highs,” the Bloomberg expert noted, adding that he sees “bitcoin's future as a digital reserve asset to complement the dollar.”

The management of the billionaire Bill Miller's Miller Opportunity Trust also speaks about the significant growth potential of the BTC/USD pair, calling bitcoin a digital analogue of gold. “Gold capitalization is $11 trillion, bitcoin is only $900 billion, which is a significant lag. We are in the early days of bitcoin adoption and the asset will be very volatile, but we believe the risk to reward ratio is attractive," the Miller Opportunity Trust said in a statement filed with the US Securities and Exchange Commission (SEC).

Ark Invest CEO Cathy Wood also believes that the cryptocurrency market is far from the end of the rally. There are no signs of a price bubble in the markets, she said. “We think bitcoin is much more than a store of value or digital gold. This is a new global monetary system that is completely decentralized and not subject to politicians' whims". That being said, Cathy Wood thinks the next five to fifteen years will be very provocative, causing the quotes to draw S-shaped curves. And therefore, for the sector to mature, regulation is needed that will affect bitcoin in the most positive way.

Analysts at the international banking group Standard Chartered have also given a positive assessment of the outlook for bitcoin and ethereum. They compared the first with currency, and the second with the financial market, where lending, insurance and exchange transactions take place. Therefore, given the wider range of ETH use cases, its capitalization may eventually reach that of the first cryptocurrency.

Standard Chartered predicts bitcoin prices in the $50,000-$175,000 range and ethereum in the $26,000-$35,000 range. Thus, these cryptocurrencies should grow threefold and tenfold, respectively. “While the return on ETH may outperform BTC in the future, the risks associated with it are also higher,” the bank representatives said.

On average, 20% of analysts agree that the BTC/USD pair will cross over $50,000 in the coming week, their number increases to 40% onthe monthly forecast, and 80% agree that it will happen before the New Year.


NordFX Analytical Group


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market
 
CryptoNews of the Week


- Analytics software provider MicroStrategy has purchased an additional 5,050 BTC at $48,099 for approximately $243 million. This was announced by the head of the company Michael Saylor. As of September 12, MicroStrategy owns 114,042 BTC. A total of $3.16 billion was spent on their purchase, thus the average cost was $27,713 per coin.
MicroStrategy was the first public company to invest a portion of its equity capital ($ 250 million) in bitcoin in August 2020. Later, the company's board of directors approved a policy to increase investment in digital gold at the expense of cash reserves. Other US companies that have made similar large investments in cryptocurrency include Jack Dorsey's Square and Elon Musk's Tesla. Now they are set to be joined by billionaire Alan Howard's Brevan Howard Asset Management hedge fund, which opened a dedicated BH Digital division for these purposes.

- US citizen of Canadian origin Galeb Alaumari was found guilty of helping North Korean military intelligence officers launder funds obtained as a result of hacking of cryptocurrency exchanges and hacker attacks on various companies and financial institutions. The WannaCry ransomware stole more than $1.3 billion in total. This includes the cyberattack on Sony Pictures Entertainment, the attempted hacking of banks in Vietnam, Bangladesh, Taiwan, Mexico, Malta, and the theft of various personal data.
Galeb Alaumari said he was responsible for cashing out funds through fake bank accounts and cryptocurrency. The defendant also confessed to sending out phishing emails. One of the victims of the scheme was a university in Canada, which transferred $9.4 million to fraudsters, believing it was communicating with a major construction company. The US Federal court sentenced Alaumari to 11 years in prison and a $30 million fine.

- Ark Invest CEO Cathie Wood expects bitcoin to rise to $500,000 within five years. In a conversation with CNBC, Wood explained that the validity of her forecast will depend on whether companies continue to diversify their bitcoin reserves and whether institutional investors decide to place 5% of assets in it.
The head of Ark Invest noted that if she had to choose one cryptocurrency, she wouldn't hesitate to prefer bitcoin “because states now consider it a means of payment.”
Wood also highlighted the potential of ethereum. “Ethereum is experiencing an explosion of developer activity thanks to NFT and DeFi. I am fascinated by what is happening in DeFi, which is dramatically reducing the cost of infrastructure for financial services. Although I know that the financial industry does not welcome this right now. We are nevertheless likely to continue with the 60% bitcoin and 40% ethereum strategy,” she added.
Earlier, analysts at Standard Chartered bank predicted bitcoin to rise to $175,000 and ethereum to $35,000.

- After El Salvador recognized bitcoin as legal tender, Panama decided to follow suit. A cryptocurrency bill has been submitted to the Panamanian Congress. Panama does not have either a central bank currently or its own official currency, and the US dollar is used as a means of payment.
If the law is passed, legal entities and individuals of Panama will be able to freely use BTC and ETH as a means of payment for any government or commercial transactions. In addition, it is proposed to transfer public records to the blockchain and digitize legislative and administrative acts. “Such a move will help create a lot of jobs, attract investment and make the government more transparent,” the bill's initiators said.
Unlike El Salvador, the Panamanian option does not provide for the mandatory use of cryptocurrencies, that is, citizens and companies will be able to freely decide whether they want to accept cryptocurrencies or be limited to just the dollar.

- A recent survey by Sherlock Communications found that almost half of Brazilians agree that bitcoin should be accepted as the country's official currency, as El Salvador did. 48% of respondents voted for this (17% support without any doubt, 31% with some conditions). Only 21% rejected this idea (9% categorically, 12% moderately). The remaining respondents (31 percent) maintain a neutral stance.

- Artist Monica Rizzolli earned 1623 ETH (about $5.4 million at the time of the transaction) for the sale of the NFT series "Fragments of an Infinite Field" on the Art Blocks marketplace. The collection, consisting of 1,024 generative images, sold out on September 13 in less than an hour. The price for individual copies started from 10 ETH. Well-known NFT collectors Cozomo de' Medici and JDH spent hundreds of thousands of dollars to buy individual paintings.
The main parameter for creating the composition was the seasons, which set the colors and the phenomena depicted in the picture. Subsequently, some of the collection's items were resold on the OpenSea marketplace for 69 ETH (about $229,000).

- The State Bureau of Investigation of Ukraine has established the involvement of three employees of the cyber department of the Security Service of this country (SBU) in the kidnapping of a cryptocurrency trader.
According to the investigation, SBU agents received information about the trader having a large amount in cryptocurrency in autumn 2020. They organized his abduction, took him to the forest and beat him for an hour and a half, demanding that $200,000 be handed over to them. After being refused, the agents moved the abductee to police headquarters. They continued to extort funds There, lowering the amount to $80,000. The trader was forced to agree, and called his wife, who transferred 7 BTC (at the time of the transaction, the equivalent of the ransom amount) to the cryptocurrency wallet specified by the extortionists.
All three face charges of robbery with violence, kidnapping and abuse of authority. The investigation also examines the involvement of eight other SBU officers in the crime.

- Austrian economist Ronald-Peter Stöferle, managing partner of investment company Incrementum AG, said that "in five to ten years, bitcoin will rise to heights that we cannot currently imagine." At the same time, the top manager noted that the next phase of bitcoin's growth has not yet begun. According to him, the rise in price of bitcoin will occur when the asset becomes "a means of inflation protection during the ongoing large monetary experiments."

- Crypto trading veteran Ton Weiss predicts that bitcoin (BTC) will complete the current correction relatively soon and then rise sharply to six-digit levels.
Weiss explained during the new strategy session that the recent move in the BTC price is reminiscent of July, when the flagship cryptocurrency fell to a one-year low below $29,000 and then aggressively rose to $52,000 in less than six weeks.
According to Weiss, bitcoin is likely to fall short and give traders an opportunity to buy near the $40,000 level. After which it will bounce back sharply from that support and go up.
“The $40,000 low will come either next week or may be delayed until early October, and then we will cross that area with a rise to $50,000 in mid to late October. We will be over $65,000 by early November, and probably $100,000 by the end of December,” he said.


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Forex and Cryptocurrency Forecast for September 20 - 24, 2021


EUR/USD: Awaiting US Fed Decision

The dollar continues to strengthen, and the EUR/USD pair moves south. Starting on Monday September 13 at 1.1810, it ends the five-day run at 1.1730. The movement is certainly not very strong, only 80 points. But it must be taken into account that it was 1.1908 two weeks ago, on September 03.

US retail sales statistics were much better than expected. Sales showed a 0.7% increase in August, although according to the forecast, should have decreased by 0.8%. The number of repeat applications for unemployment benefits, which was supposed to decrease by 72K, fell by 187K.

Such strong statistics raised the likelihood that the Fed will announce the curtailment of $ 120 billion of the quantitative easing (QE) program to 55% at its next meeting on September 21-22.

As a result of the dollar emission, carried out by the FRS for the last year and a half, the US national debt has grown to 130% of GDP, and the budget deficit exceeds a trillion dollars. As a result, it is not just about winding down the fiscal and credit stimulus, but also a shift to a tight fiscal policy. The Democratic Party and President Biden's Administration have introduced a draft tax reform to the U.S. Congress, which includes a sharp increase in federal income taxes. If passed, the tax rate in such states as New York or California could exceed 60%. In addition, a three per cent wealth tax is proposed for the first time in US history.

The stock market responded to all this news with active sales. The S&P500 index fell 4,550 to 4435, the Dow Jones dropped 35517 to 34510 in two weeks. The gold price also fell 4.5%.

As for Europe, it was gripped by the real panic associated with the record rise in gas prices, which at one point reached $970 per 1,000 cubic metres. (It was 2.8 times lower a year ago). In anticipation of the autumn-winter heating season, the necessary energy reserves are only 75% (according to other estimates, only 50%). Such energy shortages could not only drive up prices but also reduce production. And this is fraught with a new recession and will definitely not benefit the common European currency.

By far the most important event of the coming week will be the Federal Reserve meeting on September 21-22. The interest rate is likely to remain unchanged at 0.25%. Therefore, first of all, investors are waiting for signals or even a concrete decision about the beginning of the QE curtailment. As we have written before, more members of the Fed's leadership are taking a hawkish stance and supporting a reduction in the asset purchase program as early as this year. And if the hawks win at this meeting, we can expect a sharp strengthening of the dollar, and a further fall in stock indices and gold prices.

At the moment, 60% of experts vote for the rise of the US currency and the decline of the EUR/USD pair, while 30%, on the contrary, believe that nothing will happen at the Federal Reserve meeting and the pair will win back north. The remaining 10% of analysts abstain from forecasts.

The indicator readings on D1 are as follows. Among the oscillators, 75% are colored red and 25% give signals that the pair is oversold. Among the trend indicators, 100% point to the south.

Support levels are 1.1705, 1.1665, 1.1600 and 1525. Resistance levels are 1.1770, 1.1800, 1.1845, 1.1908, 1.1975, 1.2025 and 1.2100.

In addition to the Fed meeting, events in the coming week include the release of German and Eurozone PMI statistics on Thursday September 23.

GBP/USD: BoE Hawks vs Fed Hawks

The British pound, although down against the dollar, is generally holding up better than the common European currency. As expected by most analysts (60%), the GBP/USD pair went north on Monday and tested the 1.3900 high the next day, helped by good statistics from the UK labor market. This was followed by a reversal, a gradual decline and the pair's finish at 1.3730. As a result, it failed to update the two-week low of 1.3725, although it was very keen to do so.

The GBP/USD pair hardly reacted to the above forecast inflation data in Britain (CPI rose 3.2% in August vs. 2.0% in July vs. 2.9% forecast). However, such indicators reinforce the hawks' position at the Bank of England. So far, the forces of "hawks" and "doves" are equal there. According to Bank Governor Andrew Bailey, four members supported raising the key interest rate and four opposed at the last meeting of the Monetary Policy Committee (MPC).

Analysts believe that the likely rate hike in February 2022 will support the pound and further declines in the GBP/USD pair will be limited. If that expectation grows into confidence, the UK currency could move up strongly.

We will not only have an important meeting of the US Federal Reserve this week, but also a meeting of the Bank of England on Thursday, September 23, from which investors also want to receive signals on the timing of tightening monetary policy. And here, in contrast to the EUR/USD forecast, most experts side with the pound. 65% of analysts vote for the growth of the GBP/USD pair, and 35% for its further decline. But the technical indicators' readings are 100% in line with the previous pair.

Resistances are at levels 1.3765, 1.3810, 1.3910, then 1.3960, 1.4000 and 1.4100. The bulls aim to refresh the June 01 high at 1.4250. Supports are in zones 1.3700-1.3725, 1.3665 and 1.3600.

continued below...
 
USD/JPY: Zero Again


The coming week can be safely called the week of the central banks. In addition to the US Federal Reserve and Bank of England meetings, investors will learn the views of the People's Bank of China and the Bank of Japan on the economic situation in their countries on Wednesday September 22, as well as decisions on interest rates of their national currencies. With a probability close to 100%, the yen rate will remain the same, at minus 0.1%. But BOJ leaders have a lot more to think about: they need to fill the economy's 22 trillion yen (approx. $200 billion) deficit.

However, the USD/JPY pair reacts to such figures and the news quite calmly. Unnecessary excitement is not needed in a quiet Japanese harbor.

The USD/JPY pair has been moving along the 110.00 horizon since last March, making rare attempts to get out of the 108.30-111.00 trading channel. So this time, having started the five-day week at 109.85, it finished the week almost at the same place where it started, at the level of 109.95. At the same time, the experts' forecast can be considered to have come true: most of them (50%) sided with the bears last week and 35% took a neutral stance. Everything went exactly according to this scenario: at first the pair went down sharply, and then, having reached a strong medium-term support at 109.10, it failed to break it, turned around and went back.

The pair was supported by positive US retail sales statistics. In addition, according to a number of experts, the outflow of Japanese capital into foreign bonds did not allow it to go far down. Japanese investors hardly bought any bonds from other countries in 2021. But the sharp rise in US Treasuries yields pushed them to buy more than 1.76 billion yen worth of securities this Thursday. That has become a record since last November.

The experts' forecast for the near future looks like this: 50% of them side with the bears once again, 35% with the bulls, and 15% have taken a neutral stance. As for the indicators on D1, there is a complete diversity among the oscillators after such week results, while the green ones have a convincing advantage for the trend indicators.

Support levels are unchanged: 109.60, 109.10, 108.70 and 108.30. The dream of the bears (it seems already unrealizable) is to retest the April low of 107.45. The nearest resistance levels are 110.15, 110.25, 110.55, 110.80, 111.00 and 111.65. The ultimate goal of the bulls is still the same: to reach the cherished height of 112.00.

CRYPTOCURRENCIES: Black to Slightly Greenish

El Salvador entered into force a law recognizing bitcoin as a legal means of payment on Tuesday, September 7. And the quotes of the flagship cryptocurrency fell by 18% in a matter of hours: from $52,870 to $43,205. The market is slowly trying to recover after this "black" day. At the time of writing this review, the BTC/USD pair had risen to the $47,300-48,000 zone. Of course, it's not much, which is why the past week can only be described as “slightly greenish.”

The Crypto Fear & Greed Index has risen by only 2 points, from 46 to 48, and is in the central neutral zone. The total crypto market capitalization remained virtually unchanged, at $2.120 trillion compared to $2.100 trillion a week ago.

The news background looks “slightly greenish” too. The most interesting news is that Panama has decided to follow El Salvador's example. A draft law on cryptocurrencies was presented to the Congress of this country. Panama currently uses the US dollar as a means of payment. If the law is passed, it will also be possible to use BTC and ETH. Unlike El Salvador, the Panamanian option does not provide for the mandatory use of cryptocurrencies, that is, citizens and companies will be able to freely decide whether they want to accept cryptocurrencies or be limited to just the dollar.

The law has not yet been passed, but analysts are already wondering how the market will react to its entry into force. Should we wait for another "black" day of the calendar, as in the case of El Salvador?

One more piece of news. Analytics software provider MicroStrategy additionally purchased 5,050 BTC at $48,099. This was announced by the head of the company Michael Saylor. As of September 12, MicroStrategy owns 114,042 BTC. A total of $3.16 billion was spent on their purchase, thus the average cost was $27,713 per coin.

Other US companies that have made similar large investments in cryptocurrency include Jack Dorsey's Square and Elon Musk's Tesla. Now they are set to be joined by billionaire Alan Howard's Brevan Howard Asset Management hedge fund, which opened a dedicated BH Digital division for these purposes.

Influencers continue to predict a great future for major cryptocurrencies. So, Austrian economist Ronald-Peter Stoferle, managing partner of investment company Incrementum AG, said that "in five to ten years, bitcoin will rise to heights that we cannot currently imagine." At the same time, the top manager noted that the next phase of bitcoin's growth has not yet begun. According to him, the rise in price of bitcoin will occur when the asset becomes "a means of inflation protection during the ongoing large monetary experiments."

Ark Invest CEO Cathie Wood expects bitcoin to rise to $500,000 within five years. In a conversation with CNBC, Wood explained that the validity of her forecast will depend on whether companies continue to diversify their bitcoin reserves and whether institutional investors decide to place 5% of assets in it.

The head of Ark Invest also highlighted the potential of Ethereum, saying that her company will likely continue to adhere to a 60% Bitcoin and 40% Ethereum strategy.

In terms of shorter-term forecasts, crypto trading veteran Ton Vays believes that the BTC/USD pair will complete the current correction relatively soon, and then rise sharply to six-digit levels. Vays explained that the recent move in the BTC price is reminiscent of July, when the flagship cryptocurrency fell to a one-year low below $29,000 and then aggressively rose to $52,000 in less than six weeks.

According to Ton Vays, bitcoin is likely to fall short and give traders an opportunity to buy near the $40,000 level. After that, it will sharply bounce off this support and rush upward. “The $40,000 low will come either next week or may be delayed until early October, and then we will cross that area with a rise to $50,000 in mid to late October. We will be over $65,000 by early November, and probably $100,000 by the end of December,” he said.


NordFX Analytical Group


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market
 
CryptoNews of the Week


- The risk of default by Evergrande, one of China's largest construction companies, which has accumulated 2 trillion yuan ($309 billion) in debt, triggered panic in financial markets on September 20. Investors began to get rid of risk assets, tumbling stock markets. The cryptocurrency market did not escape the sell-off either. While bitcoin was at $52,870 on Monday, it fell short term to $39,666 on Wednesday, losing up to 25% of its value.
Evergrande's structure includes 200 offshore and 2,000 Chinese companies operating in multiple countries, according to Bloomberg. The 2 trillion-yuan liability is the world largest debt and is equivalent to 2% of China's GDP. Evergrande's net worth is about $3.9 billion, nearly 80 times less than its $309 billion debt.

- The US Treasury has included the Suex cryptocurrency exchanger in the sanctions list, as well as 25 addresses in the bitcoin, ethereum and tether networks. According to the Office of Foreign Assets Control (OFAC), at least eight ransomware, scam projects and darknet marketplaces passed through Suex.
Chainalysis, an analytics company involved in the investigation, found that Suex had received more than $480 million in bitcoin since February 2018. At least $160 million of that amount is related to illegal activities.

- The president of Euro Pacific Capital, a well-known supporter of gold Peter Schiff once again criticized bitcoin and allowed the imminent end of the "cryptocurrency bubble". “There are now more than 12,000 tokens, 84 of which currently have a market cap above $1 billion. There's nothing special about bitcoin. Altcoin supply will continue to grow until the cryptocurrency bubble bursts. Supply will exceed demand and prices will collapse almost overnight," Schiff wrote. In his view, the first cryptocurrency would “only take money from the pockets of people stupid enough to buy it.”
In the comments, the financier reaffirmed his commitment to the precious metal and pointed out that the value of gold is "in its usefulness." “You can do more with gold than with any other metal, and it does not lose its unique properties over time,” said Schiff.

- Bitcoin is a monetary standard that will become a global reserve currency one day. This opinion was expressed by the head of SkyBridge Capital Anthony Scaramucci. He urged people to learn more about the crypto industry, even if they are skeptical about the digital asset market. According to him, it is important to understand “why you don’t want to own digital gold”.
“Bitcoin is volatile because it is at an early stage of adoption. Amazon had the same volatile curve 24 years ago. But if you invested $10,000 in Amazon shares at the IPO, you would receive $21 million today,” explained Scaramucci. He advised newcomers to the crypto industry to allocate up to 5% of their investment portfolio to digital assets, explaining the recommendation as high profits if the market grows and low losses if it collapses.

- An anonymous bitcoin wallet owner who bought $8.1k worth of cryptocurrency in 2012 has come forward almost 10 years later. According to the profile publication Decrypt, their account held more than 616 bitcoins. During its storage, each coin has increased in value nearly 3,500 times, with the total value of its assets approaching $28 million.

- The fair price of Ethereum based on network activity is $1,500, JPMorgan strategist Nikolaos Panigirtsoglou said in a Markets Insider commentary. “We're looking at hashrate and unique address counts to try to understand the value of ethereum,” added the JPMorgan strategist. According to him, the second-most capitalized cryptocurrency network is less attractive than its price suggests. Panigirtzoglou noted the growing competition from Solana, Cardano and other blockchains.
For reference, the ETH price has dropped 40% from $4,020 to $2,650 this week from September 20-22.

- The opposite point of view is held by cryptocurrency trader and analyst Lark Davis. He believes that the ETH rate will reach $10,000 in the coming weeks. The analyst notes that large investors, banks and corporations continue to invest in the ethereum ecosystem.
Davis cited its limited supply in the market as another factor in favor of the growth of this altcoin. Currently, the reserves of the second cryptocurrency on cryptocurrency wallets are at record lows. This shows the reluctance of investors to sell their holdings in ETH. “87 per cent of coins have not moved for more than three months. 87 per cent! That's crazy, “ the analyst exclaimed.
In addition, a significant shortage of ethereum is created by burning of underlying transaction fees as well as by an increase in ethereum 2.0 staking deposits.

- While the price of bitcoin has climbed from $31,000 to $52,000 since the end of July, long-term holders have sold the coins they purchased between the $18,000 and $31,000 levels, consistently making a profit of about $1 billion per day. This data is provided in the latest report by Glassnode. Long-term in this classification refers to holders who received their coins more than 155 days ago.
“Note that these prices formed in the 2020-2021 bull market and suggest that long-term bitcoin investors may be becoming more active traders, record profits, use derivatives to hedge risks, or speculate more than in Q2,” Glassnode experts write. “This may also suggest uncertainty in the current market structure, as coins that have been purchased at close to current prices are being spent.”
At the same time, the authors note that despite the increased sales from this group, there was also a strong demand. As confirmation, they point to the fact that the aggregate balance of bitcoin on the exchanges continued to decline and hit a new multi-year low of 13% of turnover before the collapse on September 20.

- The FBI received over 1,800 complaints related to cryptocurrency fraud on dating sites between January 1, 2021, and July 31, 2021. Victims' losses are estimated at $133.4 million.
People are more likely to suffer from depression and loneliness during the pandemic, so dating and socializing apps have become very popular. First, the scammers establish "contact" with the potential victim. After getting the victim's trust, the attacker claims to be versed in cryptocurrency investments and trading and directs the person to a fraudulent site. Once a user has invested a certain amount, the scammer allows them to withdraw the “first profit”: a small amount of money, thus gaining the trust of the victim. The scammer then advises the user to deposit a larger sum. If the “client” stops receiving funds, then communication with the client ends as well.

- Financial market experts have recently conducted a study, the subject of which was the proposal of the famous car manufacturer Henry Ford to replace gold with the so-called "energy currency". The issue was raised by him in the New York Tribune as early as 1921. The study culminated in the fact that Ford's proposed project to launch a new currency is strikingly similar to the description of BTC, which was presented in 2008 by Satoshi Nakamoto.
The front page of the newspaper featured an article detailing the "energy currency" that Ford believed could end wars and become the backbone of a new era's monetary system.
The auto industrialist proposed replacing gold with a currency that would fully function on the basis of "units of force", for which he could build a huge hydroelectric power station. Thus, the potentially created currency would have been able to become the most stable and secured monetary unit of the time and would prevent a massive increase in the rich profiting from speculation with gold.


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Forex and Cryptocurrency Forecast for September 27 - October 01, 2021


EUR/USD: Close Start of QE End

The Fed did not make any changes to its monetary policy at its meeting on September 21-22. However, the regulator made it clear in its commentary that it was possibly ready to start a gentle tapering of the monetary stimulus (QE) program as early as November.

More than half of the FOMC (Federal Open Market Committee) members believe that interest rate hikes will begin a few months after the end of QE, that is, even before the end of 2022. In total, in the period 2022-2024 the Fed plans to raise rates at least 6 times. (For comparison, the ECB will only start doing this in three years).

Such prospects were in favor of the dollar, the DXY index rose to 93.498, and the EUR/USD pair renewed its monthly minimum, falling to 1.1683.

There was a slim chance that the start of QE tapering would be announced now. But that hasn't happened, and the Fed will continue to print new dollars for now in a volume of at least $120bn a month. The amount of money on US household balance sheets increased to $16.5 trillion in Q2 and will continue to grow in the near future (it was $12.7 trillion at the end of 2019). But there is bound to come a time when the population starts spending that money supporting the American economy after QE winds down.

Such statistics have given investors confidence in a bright future and revived their risk appetites, pushing the S&P500, Nasdaq and Dow Jones stock indexes up again. By the end of the week, the stock market had virtually compensated for the losses suffered on Monday due to information about the possible bankruptcy of Evergrande, one of China's largest construction companies. Its debt of 2 trillion yuan ($309 billion) is the world largest and is nearly 80 times its net worth (about $3.9 billion). According to Bloomberg, Evergrande includes 200 offshore and 2,000 Chinese companies operating in many countries, so the bankruptcy of such a giant would deal a powerful blow to the global economy.

The recovery of investors' interests in risky assets and the outflow of money to the stock market reversed the trend of the EUR/USD pair to the north on Thursday. The weakening of the dollar accelerated after the publication of weak data from the US labor market.

Initial jobless claims rose to 351,000 in the week, against the forecast of 320,000. The number of repeated applications for state benefits increased to 2.8 million. This is certainly not a disaster, but a wake-up call for the Fed. And if the NFP and other indicators, which will be published on October 8, turn out to be disappointing as well, the regulator may consider delaying QE tapering for a more distant period.

Both of these factors helped EUR/USD bulls raise the pair to 1.1750 on September 23. As for the end of the working week, the pair struck a final chord at around 1.1715 after the speech of FRS Chairman Jerome Powell on Friday evening.

The fact that the US Central Bank can start winding down QE in 1-2 months and complete the process by mid-2022, after which it will proceed with an interest rate hike, allows forecast a stronger dollar in the medium term. Most experts (65%) expect a rise in the US currency and a further decline in the EUR/USD pair in the coming week. They are supported by 85% of oscillators and 100% of trend indicators on D1. The remaining 35% of analysts vote in favor of the pair's growth, and 15% of oscillators also indicate that it is oversold.

Support levels are 1.1705, 1.1685, 1.1600 and 1525. Resistance levels are 1.1750, 1.1800, 1.1845, 1.1908, 1.1975, 1.2025 and 1.2100.

Of the events to come, Germany's federal elections, which will be held on Sunday 26 September and after which Chancellor Angela Merkel will leave office, should be noted. US capital and durable goods orders will be released on Monday September 27. There will be statistics on the consumer markets of Germany and the Eurozone on the last day of the month, as well as data on the US GDP. And finally, the ISM Manufacturing PMI will be released on Friday October 01.

GBP/USD: Bank of England Hawks Win

The past week can be safely called the week of Central banks. Not only the US Federal Reserve, but also the Banks of England, Japan and Switzerland flourished it with their meetings. And while the latter two are not ready to sweep course just yet, the UK regulator has erupted with hawkish rhetoric all of a sudden.

The Bank of England has been extremely passive over the past few years, following in the wake of the ECB and the Fed. And it lasted until the middle of last week. But, apparently, leaving the EU made such behavior impossible. At its meeting on Thursday, September 23, the bank made decisions that made the market literally flinch, and the GBP/USD pair soar by 140 points, from 1.3608 to 1.3748. The regulator not only announced its plans to tighten monetary policy, but also outlined the timing of the refinancing rate increase. The first increase to 0.25% is due in May 2022 and it will rise to 0.50% in December.

In contrast to the Fed's vague timetable, the Bank of England's plan outlined fairly clear milestones, which, as already stated, the market received with enthusiasm. But the GBP/USD pair did not go above 1.3748, because despite the lack of concrete figures at the moment, the Fed's massive plan to end QE will be implemented, and in a short enough time frame. This cooled the fervor of the pound supporters, and as a result, the week-long bout of bulls and bears on the GBP/USD pair ended with a victory for the latter: starting the five-day run at 1.3730, it ended it at 1.3670.

Technical analysis is also on the bear side: both oscillators and trend indicators are red on D1. It is not only the trend of the last two weeks that affects, but also the dynamics of the three months of the past summer. But as for the experts who forecast the week ahead, the vote is 50 to 50.

Resistances are at levels 1.3690, 1.3765, 1.3810, 1.3910, then 1.3960, 1.4000 and 1.4100. The bulls aim to refresh the June 01 high at 1.4250. Supports are in zones 1.3640, 1.3600, 1.3570 and 1.3520.

In terms of macro statistics, the UK GDP for Q2 2021 will be released on Thursday 30 September. And, while the previous value was positive (+4.8%), it is now forecast to go negative, minus 1.5%.

continued below...
 
USD/JPY: Japanese Doves Lose

The USD/JPY pair has been moving along the 110.00 horizon since last March, making rare attempts to get out of the 108.30-111.00 trading channel. This time too, having started the five-day period at 109.95, it reached a height of 110.78 by the end of the week, and ended the trading session at 110.75.

Unlike other central banks in advanced economies, the Bank of Japan remains committed to ultra-soft monetary policy and negative interest rates. That is why the yen is still of interest not as a tool for making money, but as a safe haven currency.

The start of the week was good for it: the risk aversion triggered by the possible bankruptcy of Evergrande pushed the pair USD/JPY down to the horizon of 109.10. However, things went wrong later. Investors wanted profit again, turning to risky assets. After the Fed meeting, the 10-year US treasuries yield soared above 1.44%. In fact, the yield spread on Japan's 10-year bonds and similar US bonds has gone beyond the recent consolidation in favor of US bonds. And such a balance of strength played into the hands of USD/JPY bulls, weakening the yen's position.

If the Bank of Japan continues to maintain dovish policy and the US Fed actively winds down its fiscal stimulus program, the yen will not feel good. And the USD/JPY pair will still take the 112.00 high by storm. The Japanese currency can be saved by either another drop in demand for risk assets or simply market reluctance to move the pair above the established medium-term corridor.

At the moment, 60% of experts believe that the USD/JPY pair can get close to 112.00. But only half of the analysts vote for it to move above that level. The second half believes that the pair will return to the above-mentioned corridor again.

As for the indicators on D1, 65% of the oscillators look north, the rest are either colored neutral gray or signal the pair is overbought. But the trend indicators unanimously vote for the continuation of the hike to the north.

Support levels are unchanged: 110.15, 109.60, 109.10, 108.70 and 108.30. The dream of the bears (it seems to be already impossible) is to retest the April low of 107.45. The nearest resistance levels are 110.80, 111.00 and 111.65. The ultimate goal of the bulls is still the same: to reach the cherished height of 112.00. And maybe even overcome it.

As for the events that will take place in Japan in the coming week, we note the meeting of the Monetary Policy Committee of the Bank of Japan on Tuesday September 28 and the publication of the Tankan Index of Large Producers of the country for the Q3 on Friday October 01. But will they be able to seriously affect the USD/JPY quotes? In our view, not likely.

CRYPTOCURRENCIES: Whales prepare for Bear Attack


This week's BTC/USD and ETH/USD charts are very similar to those of the S&P500 and Dow Jones stock indices. The reason is fluctuating investor sentiment.

The risk of default on obligations of one of the largest construction companies in China, Evergrande, which has accumulated debt in the amount of 2 trillion yuan ($ 309 billion), provoked panic in the financial markets on September 20. Investors began to get rid of risky assets, crashing stock markets. The cryptocurrency market did not escape the sell-off either. If bitcoin was at $52,870 on Monday, it fell to $39,666 for a short time on Tuesday, losing up to 25% of its value.

The panic caused by Evergrande subsided on September 22, followed by a correction, and moderate risk appetite returned to investors after the Fed meeting, and the charts crept further north. However, it was too early to think that the sell-off was over. After rising to $45,150, bitcoin flew down again on Friday, September 24, then fought back and is trading at $43,000 at the time of writing.

The reason for another fall was China again, with the People's Bank of China declaring all cryptocurrency related activities illegal, promising to take tough action against violators. The ban includes the services of foreign crypto exchanges provided in the country, among other things.

In addition to pressure from regulators, whale behavior is another warning sign. On the one hand, the number of coins they own is growing. If in February there were an average of 3236 BTC per whale, this figure increased to 3722 BTC in September. But the number of whales themselves has decreased by 15% and now stands at 2,125. This is thelowest for the last 15 months. In addition, significant amounts of their coins have flowed from their wallets to exchange accounts. This suggests that the whales are preparing for a possible continuation of the bear market.

Of course, whales are not a single entity. And despite the general desire to make a profit, they can be divided into short-term and long-term investors. The former are prone to speculation and quick fixation of small profits. The second, such as MicroStrategy, prefer to restock on price downturns. And it is thanks to them that the market is kept from a complete collapse.

As for investor sentiment, the data provided by Glassnode in the latest report is interesting. Since late July, while the price of bitcoin has been climbing from $31,000 to $52,000, long-term holders have sold coins they purchased between the $18,000 and $31,000 levels. According to analysts, this suggests that some of the passive investors have moved into the category of active traders selling coins that were purchased at close to current prices.

The total crypto market capitalization has again dropped below the psychologically important threshold of $2.0 trillion and is at $1.84 trillion. The Crypto Fear & Greed Index has moved from the neutral zone (48 points) to the Fear zone. It was 27 on Thursday, September 23, at the low of the week, and it grew slightly on Friday September 24 - up to 33 points.

In general, the crypto market is now in a state of uncertainty, some influencers predict unprecedented growth for it, while others, like the president of Euro Pacific Capital, Peter Schiff, believe that this “bubble” will burst soon. Of course, this discord applies not only to bitcoin, but also to ethereum.

The ETH price dropped 40%, from $4,020 to $2,650 in just three days last week, from September 20 to September 22. At the same time, JPMorgan bank strategist Nikolaos Panigirtzoglou believes that it should be even lower. In his opinion, the fair price for this altcoin is $1,500, based on the metrics of network activity.

The opposite view is taken by cryptocurrency trader and analyst Lark Davis, who said that ETH will reach $10,000 in the coming weeks. He noted that large investors, banks and corporations continue to invest in the ethereum ecosystem. Davis cited its limited supply in the market as another factor in favor of altcoin growth. 87% of Ethereum coins have not moved for more than three months, indicating investor reluctance to sell their savings. In addition, a significant shortage is created by burning of underlying transaction fees as well as by an increase in ethereum 2.0 staking deposits.

And in conclusion, one discovery that could be called a sensation. It turns out that exactly 100 years ago, the famous auto industrialist Henry Ford was already putting forward the idea of replacing gold with a so-called “energy currency.” The issue was raised by him in the New York Tribune as early as 1921. It is striking that Ford's proposed project to launch a new currency is strikingly similar to the description of BTC, which was presented in 2008 by Satoshi Nakamoto.

The front page of the newspaper featured an article detailing the "energy currency" that Ford believed could replace gold and become the backbone of a new era's monetary system. This currency would be fully functioning on the basis of "units of force", and it was proposed to build a huge hydroelectric power station to issue it. Thus, it could become the most stable and secured monetary unit and would prevent the growth of the rich who profit from speculating in gold.


NordFX Analytical Group


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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CryptoNews of the Week


- The author of the bestselling book "Rich Dad, Poor Dad" and entrepreneur Robert Kiyosaki predicted "a giant stock market crash in October." The same fate awaits gold, silver and bitcoin, he said. Kiyosaki cited U.S. Treasury bonds, which have recently been rising rapidly, among the reasons for the collapse. “Cash is best for making deals after a crash,” the entrepreneur wrote.
Kiyosaki also spoke out about another Chinese crackdown on the crypto industry, which caused the price of bitcoin to fall below $40,000. “This means that China is going to launch a government cryptocurrency. If the US follows suit, the Fed will outlaw bitcoin. The U.S. government will become centralized like China, communism will begin in the United States, our freedoms will end,” he wrote.

- The United States of America should take the opposite position to China and buy bitcoin, said Thiel Capital COO Blake Masters. “Let's do the opposite. The U.S. government should buy bitcoin's strategic reserve, Fort Nakamoto, the new Fort Knox,” he wrote.
Masters is a Republican Party representative and Senate candidate from the state of Arizona. Those wishing to support his election campaign can send donations in digital gold, he said. Earlier, his fellow party member, Senator Pat Toomey, called China's crackdown on the cryptocurrency industry "a great opportunity for the United States."

- Due to a security failure, a fake cryptocurrency giveaway was carried out on the popular Bitcoin.org website. Visitors to the website saw immediately a pop-up asking them to send cryptocurrency to a bitcoin wallet using a QR code and receive twice as much in return. The fake message said the Bitcoin Foundation would like to thank the community and that the giveaway will be limited to the first 10,000 users.
Visitors to the site could not remove this message, making the rest of the website inaccessible. Bitcoin.org was founded in August 2008 by Satoshi Nakamoto himself. It hosts various important materials, such as the original white paper and developer documentation on bitcoin.
Despite the fact that the fake giveaway scam is not new at all, there were some who bought into the trick and sent quite large amounts in BTC to the fraudsters' wallet.

- The popular Chloe Baffled meme depicting a two-year-old girl was sold as a non-fungible token (NFT) for 25 ETH, nearly $74,000 at the time of the deal. The buyer was the music company 3F Music from Dubai (UAE). The family will keep the proceeds in Ethereum in hopes of further growth of the cryptocurrency. The mother of the heroine plans to spend this money in the future on the education of her daughters, and the “baffled” Chloe herself wants to buy a horse or “build a Disneyland,” writes the BBC.
Chloe became popular in 2013 after posting a video of her reacting baffled to news of a trip to Disneyland while her older sister Lily cries. This video gained more than 20 million likes.

- Analyst under the nickname PlanB, the author of the Stock-to-Flow (S2F) model, has just recently predicted that the bitcoin rate will exceed $100,000 at the end of this year. At the same time, he warned that the next few months will be key for the digital asset market. The Stock-to-Flow (S2F) model predicts the value of bitcoin by calculating the ratio of the asset's total available supply and its annual increase. And now the analysts' calculations have shown that instead of rising, the price of the flagship coin could drop to $30,000.

- Over the past three months, the value of the portfolio of Mr. Gox - a crypto trader hamster on the Twitch platform - has increased by 30%. Over the same time, Warren Buffett's Berkshire Hathaway fund assets fell 2%.
The hamster's owner built a special cage for it in June 2021, equipped with optical sensors that are connected to the Arduino Nano controller. This allows the rodent to "trade" digital assets. Turning the running wheel, the hamster "selects" a specific cryptocurrency for trading. The program will sell the coin when the rodent runs through the left tunnel and will buy it if it passes through the right one.
The rodent managed to outperform not only Berkshire Hathaway, but also the S&P 500 (+ 6% over the same period) and NASDAQ 100 (+ 12%), as well as bitcoin itself (+ 23%). The largest asset in Mr. Gox's portfolio is Tron (TRX). The hamster purchased it five times, and the price of this cryptocurrency has grown by 40% since the first transaction.

— According to TripleA research, the number of cryptocurrency users worldwide exceeded 280 million, with India accounting for the largest increase. There are now over 100 million digital currency users, or 7.3% of the country's population. As for other countries, there are 27.4 million in the United States, 17.3 million in Russia, 13.0 million in Nigeria, and Brazil is fifth with 10.3 million.
At the same time, the number of businesses accepting cryptocurrency as payment has grown to 18,000. The report identifies top brands such as fast-food restaurant chain Burger King, travel company Expedia and online commerce platform Rakuten that now accept cryptocurrency payments.

- Billionaire trader, SAC Capital Advisors hedge fund owner Steve A. Cohen has seen a perfect scenario for Bitcoin that could steer it into future rallies. So, Cowan believes that BTC may now go down, while it is important for the price to hold the 20-week simple moving average (SMA) as support. This will be the key to creating bullish momentum that will push the BTC price up to $64,000.
The 20-week SMA, coupled with the 21-week exponential moving average (EMA), is what Cowen calls the "bull market support band." In his view, it is crucial for bitcoin to stay above this band, as history shows that BTC tends to break through the first time it is retested.

- According to 99Bitcoins statistics, bitcoin was predicted to pass out 37 times in 2021. Interestingly, this amount is 2.65 times higher than in 2020, during which BTC “passed away” only 14 times.
This site has acted as the official repository for all bitcoin obituaries since 2010, with precise criteria for selecting such publications. In particular, the content selection takes into account whether the article mentions the uselessness of bitcoin both at present and in the future. In addition, the source resource, its traffic, and the credibility of the person who owns the words about the demise of the main cryptocurrency are taken into account.
The last registered obituary dates from September 21, 2021 and was written by renowned economist Steve Hanke of Johns Hopkins University, who stated that bitcoin is a highly speculative zero-value asset. “Bitcoin's volatility is its Achilles heel and the reason why it will never become a reliable unit of account or currency. Bitcoin is nothing more than a speculative asset with a fundamental value equal to zero,” Hanke's obituary reads.


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NordFX Lottery: Another $20,000 Has Found Its Owners


The second draw of the Super Lottery by brokerage NordFX took place on October 1, 2021. Like the first time, it was held online, and anyone could follow the prize draw on the Internet. The video of the draw has been posted on the company's official YouTube channel.

Another $20,000 of the total prize pool of $100,000 was raffled off among NordFX clients. The winners are the holders of the following lottery tickets:


According to the rules, the prize funds can be used by the lottery winner in trading or withdrawn from the account at any time by any of the available methods and without any restrictions.

The third, final draw will take place immediately after the New Year holidays, on January 03, of already the new year, 2022. A substantial amount of $60,000 will be drawn, which is divided into:
- 30 prizes of $500
- 10 prizes of $1000
- 6 prizes of $2,500 each
- and 1 super prize of $20,000.

Everyone can take part in the lottery and get chances of winning one or even more cash prizes, including the $20,000 super prize. Terms of participation are available on the NordFX website.
 

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