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ADA, the native token of the Cardano blockchain, appears promising and is poised for significant upside momentum due to the current shift in market sentiment and price action. On January 6, 2024, a prominent crypto expert posted on X (formerly Twitter), making a bold prediction for ADA.
In a post, the expert highlighted that ADA is breaking out of a bullish pennant and could reach the $3 level in the future. This post on X gained widespread attention from crypto enthusiasts.
However, ADA hasn’t experienced any significant price changes in the past 24 hours and appears to be consolidating. It will be crucial to see whether the altcoin can reach the predicted target.
Currently, ADA is trading near $1.10 and has recorded a 1% price increase in the past 24 hours. However, during the same period, its trading volume rose by 5%, indicating a modest increase in investor and trader participation compared to the previous day.
Despite minimal price changes, traders appear to have increased their positions during the same period, as revealed by the on-chain analytics firm Coinglass. According to Coinglass data, ADA’s open interest (OI) has surged by 35%. In addition to traders, long-term holders have also demonstrated strong interest and confidence in the token.
Data from spot inflow/outflow reveals that exchanges have witnessed an outflow of a significant $8.41 million worth of ADA, indicating recent accumulation by long-term holders. In the cryptocurrency landscape, such outflows have the potential to create buying pressure and drive further upside momentum.
According to expert technical analysis, ADA has been consolidating within a tight range of $1.04 to $1.11 for the past three days and appears poised for a breakout.
Based on recent price action, if ADA breaches this range and closes a daily candle above the $1.12 mark, there is a strong possibility it could soar by 46% to reach the $1.63 level in the future.
When combining all these on-chain metrics with the technical analysis, it appears that the bulls are back on track and could push the asset higher, overcoming any hurdles ADA may face during the rally.
Spot Gold fell to $2,614.44 early in the American session but bounced from such a low and stabilized around its daily opening in the $2,630/40 price zone. The US Dollar (USD) started the day with a soft tone, but came under strong selling pressure mid-European session amid political headlines from the United States (US).
The Washington Post reported that Donald Trump’s transition team was working on narrowing tariffs, focusing only on key sectors deemed vital to national security, such as defence, medical supplies, and energy, narrowing the universal tariffs plan that generated concerns. Speculative interest jumped into high-yielding assets, ignoring XAU/USD.
Still, and after Wall Street’s opening, upcoming US President Donald Trump denied the headlines, saying that the story about paring back tariffs was wrong. His words boosted the USD, pushing the bright metal towards the mentioned low and putting stock markets in retreat mode.
As the dust settled, equities recovered, while the USD trimmed part of its intraday losses yet remains in the red against most major rivals. The mood remains upbeat, maintaining market players away from XAU/USD.
This week, the focus will be on US employment figures, as the country will release different figures ahead of the Nonfarm Payrolls (NFP) report, scheduled for next Friday.
The XAU/USD pair has been trading around the current level for six weeks in a row, with spikes on one side or the other being reverted, a sign investors are comfortably waiting for a powerful catalyst to justify higher highs. In the daily chart, the bright metal hovers around a flat 20 Simple Moving Average (SMA) while buyers defended the downside at around a bullish 100 SMA, now providing dynamic support at $2,624.98. Technical indicators, in the meantime, remain within negative levels, albeit with uneven directional strength, reflecting buyers’ pause.
The near-term picture suggests the bullish potential is limited. The 20, 100 and 200 SMAs converge in a tight range in the $2,640 region, rejecting advances. Finally, technical indicators have pared their slides but remain below their midlines. Gold may turn bullish if it manages to retain gains beyond the 2,665 level, where it topped in early January.
Support levels: 2,624.90 2,611.20 2,596.00
Resistance levels: 2,649.50 2,665.10 2,678.85
From now on, you may notice an increase in Japanese statements about the possibility of intervening in the exchange markets to prevent further collapse of the Japanese yen, which historically contradicts the policies of the upcoming US administration, as Trump refuses to intervene in the exchange markets. Keep in mind that the movement of the dollar against the Japanese yen price for long periods in narrow ranges portends a strong move in one of the two directions.
We still recommend buying the dollar against the Japanese yen from every downward level, but without risk and placing stop loss profit orders
The US dollar is trading near its two-year high, supported by a shift in US Federal Reserve policies and the continuation of Trump’s trade. The Federal Reserve has cut US interest rates by a full percentage point in three steps since September 2024. Federal Reserve Chairman Jerome Powell described the latest move as “closer to a call,” adding that the federal funds rate is now “much less restrictive.” It currently falls within the range of 4.25% to 4.5%.
Fed officials’ expectations for US interest rates this year indicate a median estimate of only two more cuts this year. Also, four officials preferred not to cut US interest rates at all in December 2024. Moreover, Cleveland Federal Reserve President Beth Hammack opposed the decision in favour of keeping interest rates steady.
The USD/JPY pair recently retreated to trade at the 100-hour moving average line. However, the pair continues to move towards the overbought levels of the 14-hour Relative Strength Index (RSI). In the near term, bulls will look to extend the current rally towards the 157.75 resistance levels and then the 158.90 resistance levels respectively. On the other hand, bears will look to take advantage of the selling to move towards the 156.80 support levels or lower at the 155.95 support.
In the long term, according to the performance on the daily chart, the USD/JPY pair is trading within an ascending channel formation. Also, the 14-day RSI supports a long-term bullish bias as it is about to enter overbought levels. Therefore, bulls will look to move towards stronger highs beyond the usual Japanese intervention levels reaching the 161.20 and 164.00 resistance levels respectively. In contrast, and over the same period of time, bears will look to move with renewed profit-taking selling operations, reaching the support levels of 155.30 and then the support of 152.00, respectively.
Want to trade our USD/JPY forex analysis and predictions? Here’s a list of forex brokers in Japan to check out.
Our PhenQ review covers this supplement’s ingredients (plus the extensive research behind them), benefits, dosage, pricing, possible PhenQ side effects, and positive and negative PhenQ customer reviews.
PhenQ is a natural weight loss supplement with herbal extracts, vitamins, and minerals. It is also available in pill form, which makes it more convenient than a meal replacement shake.
It works in more ways than one to help you tip the weighing scale in the right direction. This supplement can help you lose body fat, boost energy levels, tame your cravings for carbs or sugar, and elevate your mood.
Thanks to its multipurpose formula, many PhenQ reviews consider it one of the best supplements for weight loss out there. Here are its pros and cons:
Wolfson Brands (UK) Limited, based in Glasgow, is the manufacturer and supplier of PhenQ pills. It produces all its dietary supplements according to the FDA guidelines.
PhenQ might be the best fat burner for you, especially if you’re a healthy adult searching for a well-rounded weight loss supplement. It’s also recommended if you are struggling to shed pounds (which is always the case as you get older), snacking too often, or have a slow metabolism.
>>Check the latest prices for PhenQ here
The official website promises that PhenQ makes it easier to eliminate body fat while building muscles. How does it keep this promise? It combines different ingredients that work symbiotically.
As highlighted by various PhenQ reviews online, the star ingredient of these PhenQ pills is a-Lacys Reset, a fusion of alpha-lipoic acid, magnesium, and cysteine.
Check out the other ingredients in its formula:
Capsimax—which combines capsicum, piperine, caffeine, and vitamin B3—encourages your body to generate more energy and burn fat.
A study shows that folks who took capsaicinoids (included in capsimax) consumed fewer calories than those who did not. After the first 6 weeks, some participants in the capsaicinoid group saw a whopping 2.4% drop in their waist-to-hip ratio [1].
Capsaicin, found in capsicum extract, makes you feel less hungry, so you won’t eat as much as you usually would. It affects the neurons in the digestive tract and helps you feel full for longer periods of time.
In addition, capsaicin promotes thermogenesis, which helps your body burn extra fat to produce more heat and energy. Also, piperine encourages your cells to transform fatty acids and sugar into energy, which may help you perform better in the gym. And since it protects your muscle tissue when you exercise hard, piperine could play a key role in boosting your muscle growth [2].
While vitamin B3 doesn’t directly assist you in burning fat, it may help cut down your liver fat. The nutrient is helpful in fighting fatty liver disease, which overweight or obese folks often struggle with [3].
This version of chromium (usually found in supplements) can easily be absorbed by your body. It’s meant to improve and stabilize your blood sugar levels, especially if you have metabolic syndrome and type II diabetes.
Chromium may help you achieve a healthy body composition. How? It may help improve your insulin sensitivity, meaning your muscle cells will likely absorb more sugar. Thus, chromium helps your body maintain the lean body you worked so hard for. It might prevent how much lean muscle you lose and even increase your muscle mass [4].
Over the years, many Mexicans have used the nopal cactus as a home remedy to help manage type II diabetes. Western medical professionals have recently started acknowledging that it may help fight inflammation and stubborn fat.
Nopal may help reduce inflammation, which can help reduce weight. In addition, it might improve blood sugar metabolism and lessen the impact of fatty liver disease.
Research on mice revealed that those given a high-fat diet and nopal pills did not gain weight as much as those who didn’t. Their livers held less fat, and their fat cells were also smaller. Even better, the swelling in the mice’s colons decreased because of nopal. The gut’s bacterial community had also become less inflammatory [5].
Nopal may also help reduce body weight by limiting how much fat your body absorbs. According to one study, using nopal dramatically increases the fat passed via the stools. Compared to the group that didn’t take nopal, the group on nopal eliminated more fat by an impressive 15% [6].
Caffeine is the most popular stimulant in the world. It triggers the thermogenesis process and boosts energy production in the cells, which helps your body get rid of surplus fat. This is why many weight loss supplements use it as one of their main ingredients [7].
Caffeine boosts metabolism as well as physical and mental energy. The more aroused your nervous system is, the more your body responds to stimuli. This can encourage you to be more enthusiastic about exercising as it raises dopamine and noradrenaline levels in your brain.
Some researchers estimate that, on average, caffeine can help a person lose around 4 pounds of body weight in a month.
Reviews of PhenQ weight loss pills highlight how L-carnitine may help your body generate more energy. While your body can make carnitine from other essential amino acids, taking L-carnitine fumarate in supplement form may help with weight loss.
Carnitine directs free fatty acids into your cells’ mitochondria. It may provide your muscles, heart, and bones the energy they need so you can exercise more and shed more pounds.
Carnitine levels drop as you age, making you more susceptible to heart failure, muscle loss, and osteoporosis. In truth, 40–80% of the energy your bone cells need comes from fat. Hence, replenishing your body’s decreasing carnitine levels may help you regain your strength so you can participate in enough physical activity to burn off extra fat [8].
>>Check the latest prices for PhenQ here
The various ingredients in PhenQ pills can give you a host of advantages. Let’s discuss some of them.
The PhenQ weight loss supplement may help lessen food cravings. It works by preventing your stomach from producing ghrelin (also called the “hunger hormone”).
The ideal time to take PhenQ pills is about an hour before a meal because research shows that cysteine, one of its powerful ingredients, can curb hunger in 45 minutes [9]. Some PhenQ reviews claim that capsaicin helps you stick to a calorie-restricted diet by making you feel full.
Its fat-burning ingredients allow your body to meet its energy needs with fat rather than other foods. Plus, some PhenQ reviews show that it can limit your hunger pangs, which may help you avoid too much snacking and build healthier eating habits down the line.
Researchers and many PhenQ reviews emphasize how this supplement combines various ingredients that promote fat-burning. For example, alpha-lipoic acid has several advantages: it can boost energy production, speed up fat breakdown, and lessen fat formation [10].
Caffeine also does a good job at targeting fat—especially if used before exercising—because it impacts the central nervous system and muscle cells [11].
The formula of PhenQ is designed to limit how much weight you’ll gain. For instance, research suggests that nopal cactus may stop the build-up of body fat in mice that ate a high-fat diet [5].
It also transforms the bacteria in their gut to become more anti-inflammatory. Other lab experiments showed that animals without gut bacteria were more resistant to gaining weight [6].
By favoring the less inflammatory bacteria, nopal may protect you against certain inflammatory bacteria that lead to weight gain.
Some ingredients in PhenQ pills may help bolster your mood and energy. Caffeine, for example, can raise your dopamine levels, which can help motivate you to exercise more [12].
In addition, the probiotic ingredients of nopal cactus may facilitate the production of neurotransmitters and potentially lead to a more balanced emotional state.
This supplement also includes compounds that may help strengthen your body. For instance, L-carnitine transfers fatty acids into your muscle cells, where they can be used to generate energy. Moreover, caffeine amplifies energy and pushes your cells to give off more energy.
Of course, if you’re serious about reaching your fitness goals, eating a balanced diet while exercising consistently is always a good idea. However, PhenQ pills may help you get there faster. Caffeine, for instance, is one of the ingredients in this supplement, and it has the potential to accelerate your weight loss by up to 4 pounds each month.
>>Check the latest prices for PhenQ here
Most PhenQ reviews agree that people generally consider it safe. However, some may experience mild side effects, such as nausea, an irritated stomach, or sleeping problems. Plus, the supplement’s high caffeine content could be too energizing if you pop the pills close to your bedtime.
If you’re an expecting or breastfeeding mom, don’t use PhenQ since some ingredients may not be safe. Think twice about taking this supplement if you’re sensitive to caffeine.
The PhenQ company suggests taking 2 pills every day. Pop the first one during your breakfast meal and the second one as you enjoy your lunch meal. Don’t take this supplement late in the evening, as it can affect your sleeping patterns.
It’s a good idea to take it for at least 2 months for better PhenQ results that will likely last longer. The company claims that it takes 66 days to break old habits and build new ones; PhenQ may help you stop overeating or adopt a healthier eating routine.
So, how much do you need to shell out to buy this supplement? PhenQ offers 3 different packages on the product website:
Each bottle comes with 60 capsules worth 1 month’s supply. All orders come with free shipping as long as the delivery is within the US.
>>Check the latest prices for PhenQ here
The best and most secure way to buy PhenQ is to order from the official website. This way, you can not only ensure that you’re getting a genuine product but also take advantage of the company’s bulk deals and discounts.
Don’t be tempted to buy from third-party sites—such as eBay or Amazon—to avoid the risk of getting fake products.
Each of the customers above shared a PhenQ review before and after photo, which showcases the visible changes in their weight and figure after using the product.
Of course, don’t forget that these users also made healthy changes to their diet and exercise routine while taking the supplement to maximize PhenQ results.
While the testimonials featured on the official website are insightful, it’s also a great idea to check out PhenQ reviews of real customers posted on other review platforms to get an idea of their real-life experiences with the product.
You’ll find several PhenQ reviews that honest users have uploaded on Reddit. For example, one PhenQ reviewer reported positive PhenQ results, stating that it helped them reduce weight. They noticed a decrease in hunger and an increase in energy levels while using the supplement. They also appreciated that PhenQ did not cause jitters or anxiety, which is a common side effect of some weight loss supplements [13].
Other users on Reddit echoed these positive experiences, reporting increased energy levels and improved appetite management. That said, another user expressed caution, citing mixed feelings on the use of PhenQ and reports of side effects from other users [13].
Many genuine reviews on PhenQ on Trustpilot are positive; several PhenQ customer reviews commended the supplement’s effectiveness and the company’s customer service, although some are not as happy with the product.
According to Jessica Szmitkowsko’s 5-star review on Trustpilot, she loves PhenQ because she saw amazing results after using it. After she gave birth to her daughter, the supplement—along with a healthy diet and exercise—helped her lose 40 pounds [14].
Misty had a very positive experience with PhenQ, stating that it was the only weight loss treatment that worked for her. She noticed significant improvements within a week, including reduced leg size, decreased bloating, and significantly reduced belly fat. She also experienced a decrease in appetite [15].
However, Colleen Sinclair warned about the possible extra customs charges for orders shipped internationally, suggesting this information should be clearly displayed on the website. Meanwhile, other users reported experiencing no significant weight loss changes [16] [17].
It’s best not to rely on Amazon to find authentic PhenQ pills. Some phony versions may look the same but don’t have the same formula; it’s not surprising that these counterfeits usually have a very low rating based on the many not-so-good PhenQ reviews Amazon customers have uploaded.
>>Check the latest prices for PhenQ here
As you can see from our PhenQ fat burner review, it’s got a lot of advantages as a natural weight loss supplement. However, you can also check out these three noteworthy alternatives, which rank as some of the best supplements for weight loss.
KetoCharge is designed for people following a low-carb diet, whereas one can use PhenQ no matter what diet they’re into.
How does KetoCharge help you shed pounds? It helps you reach the ketosis state more quickly—where your body burns fat and turns it into energy. On top of this, it keeps you from experiencing the annoying symptoms of keto flu, like brain fog, nausea, and constant tiredness.
KetoCharge has fewer ingredients than PhenQ, as it’s only made from calcium, sodium, and magnesium BHB salts. However, if you’re serious about sticking to the keto diet, KetoCharge might be a practical option for you.
Bushra, a very satisfied customer, finds KetoCharge to be a perfect fit for her low-carb diet. She appreciates its convenience and effectiveness. Josephine also had a positive experience, stating that KetoCharge provided a much-needed energy boost after experiencing fatigue and low energy while on a keto diet for 12 months [18].
Those reviews are found on the official website and may not always be balanced, so it’s crucial to consult with your doctor before starting KetoCharge to ensure it’s safe and appropriate for you.
>>Check the latest prices for KetoCharge here
If PhenQ is a single supplement, then Phen24 combines two supplements in one package to help you lose weight 24/7: the daytime and nighttime formulas.
The daytime pills contain caffeine and guarana, stimulants that encourage the body to burn fat. Additionally, the formula includes l-phenylalanine, a common ingredient in supplements that help suppress appetite and manage blood sugar levels.
The evening pills showcase choline bitartrate—a substance that may help you fight the urge to eat late at night. If you’re struggling to avoid midnight snacking, you can try Phen24. Unlike PhenQ, you can take the night supplement in the evening since it won’t disrupt your sleep.
Users like Mariah and Steve have praised the supplement highly on the official website. Mariah shared her success story, stating that Phen24 helped her lose weight during the pandemic and get back into her work clothes. Steve simply called it “THE REAL DEAL [19].”
Meanwhile, On Trustpilot, Michael expressed dissatisfaction with the shipping experience, citing discrepancies between the expected delivery date and the actual tracking information [20].
>>Check the latest prices for Phen24 here
Unlike PhenQ, Maximus Semaglutide (aka Weight Loss Protocol) is not a natural supplement. Its active ingredient is semaglutide[3] , a prescription medication that helps people lose weight and keep it off by reducing appetite and increasing feelings of fullness.
However, the medication may cause nausea and stomach issues. This is why Maximus added vitamin B12 to the formula to help minimize any potential side effects.
Maximus is well-regarded on Trustpilot, boasting a 4.7-star rating. James Porter praised the company’s efficient and comprehensive process, highlighting the ease of navigation for delivery, follow-up, and lab review systems [21].
However, not all experiences have been positive. AP reported a negative experience with Maximus, citing poor shipping and customer support [22].
>>Check the latest prices for Maximus Semaglutide
Still curious about this supplement after reading our PhenQ fat burner review? Perhaps we covered some of your questions below.
No single weight loss supplement can claim to be the best, as individual results can vary significantly. However, supplements like protein powder, fiber supplements, and green tea extract may support weight loss when combined with a healthy diet and regular exercise.
The various online PhenQ reviews from customers show that each person’s time frame differs. Some folks see progress in just a few weeks, while others have shared that they saw changes within 2 months.
It depends. The weight a PhenQ user could lose may vary. Nevertheless, research on certain ingredients shows they can help improve your BMI and reduce weight. For example, l-carnitine might lead to a 1% decline in BMI [23]. Furthermore, taking alpha-lipoic acid could result in a 0.38-point reduction in BMI and a 5-pound weight loss [24].
Some PhenQ reviews suggest that it’s possible to lose around 5 and 10 pounds each month when using this supplement. Exactly how much weight you’ll drop, however, will be influenced by various factors such as what you eat, how physically active you are, how fast (or slow) your metabolism is, and your hormone levels.
When you stop taking PhenQ, the effects of its ingredients will gradually diminish. This may lead to a return of previous weight or an increase in appetite. It’s important to note that PhenQ is not intended to be a long-term solution and should be used as part of a comprehensive weight management plan that includes a healthy diet and regular exercise.
There is no one-size-fits-all “best” fat burner for females. Popular options include supplements that contain caffeine, green tea extract, and thermogenic blends, but individual results vary greatly. It’s essential to consult a healthcare professional to determine the safest and most effective fat burner for your specific health needs and goals.
As we wrap up, our PhenQ pills review concludes that this supplement has the potential to help you achieve your weight loss goals. After all, its natural ingredients work together to help shed excess pounds in several ways: cutting fat, keeping new fat from forming, increasing your energy, and controlling your appetite.
Now that you’ve read our PhenQ review, it’s up to you to decide if it’s the right weight loss supplement for you. If not, the PhenQ alternatives shared here are also good options.
>>Check the latest prices for PhenQ here
The crypto market is gearing up for a bullish 2025, with some tokens predicted to see massive price increases in the first quarter. Experts believe Solana could hit new all-time highs, boosted by network upgrades and strong investor interest. Cardano is also expected to cross $2 as its ecosystem continues to expand.
Meanwhile, Rollblock, an Ethereum-based token, is preparing for a potential 650% rally. Its growth is fueled by its innovative GameFi use cases and increasing adoption, making it one to watch in the coming months.
Rollblock is changing the $500 billion iGaming industry by using Ethereum’s smart contracts to make gameplay secure and transparent. Its GameFi system gives players an exciting chance to earn crypto rewards while enjoying over 7,000 AI-powered games.
The platform offers a mix of popular classics and new Web3 titles, all audited and approved by SolidProof and Gaming Anjouan. This ensures players have a reliable and regulated gaming experience they can trust.
Rollblock makes gaming safer by encrypting all financial data directly on Ethereum’s blockchain. This ensures that every game move is permanent and can’t be altered, giving players unmatched security and peace of mind.
With the online gaming market expected to grow past $740 billion, Rollblock takes a unique approach to stand out. Each week, the platform uses part of its revenue to buy back and burn RBLK tokens, reducing their supply. This not only boosts the token’s value but also creates extra profits for RBLK holders, who can also enjoy rewards through the platform’s earning programs.
In December alone, players wagered over $1.75 million, while deposits and signups surged by an impressive 600%. Since its launch last year, Rollblock has amassed a staggering 40,000 presale registrations, demonstrating remarkable momentum and market appeal.
Solana is one of the top five cryptocurrencies by market cap, known for its fast, scalable network and low transaction fees. It’s a favorite platform for developers working on NFTs and DeFi projects.
Bitwise recently boosted Solana’s growth by launching a Solana staking ETP (Exchange-Traded Product) in Europe under the ticker BSOL. Supported by Marinade, this ETP offers staking rewards of 6.48% annually, making it attractive to both institutional and retail investors.
Currently trading at around $217, Solana is gaining momentum, with some experts predicting a rise to $600. This would more than double its value, driven by increased adoption and a recovering crypto market. If Solana continues on its current path, a new all-time high could be just around the corner.
At the moment, Cardano (ADA) has risen 1.41% to $1.08 and it gained 24.54% last week, continuing to show long-term bullish potential.
Social mentions for Cardano have dropped to 206, indicating reduced public chatter. Interestingly, a similar decline in early November was followed by a rally that took Cardano to $1 on November 22. At the same time, whale activity has spiked, with 687 transactions over $1 million recorded in the past 24 hours. This suggests accumulation by major investors, often a sign of upcoming price moves.
Experts believe Cardano could reclaim its all-time high of $3 in the next bull market and potentially climb to $7, driven by its solid network fundamentals and growing adoption.
While Cardano and Solana prepare for expected rallies in 2025, Rollblock’s ICO is stealing the spotlight as the most promising investment opportunity.
Now in stage nine of its highly popular ICO, Rollblock has already raised over $7 million, marking a 310% surge and attracting interest from both investors and crypto whales. Priced at just $0.0415 per token, analysts predict that RBLK could become the next penny crypto to break the $1 mark, making it a standout contender for massive growth.
Discover the exciting opportunities of the Rollblock (RBLK) presale today!
Website: https://presale.rollblock.io/
Socials: https://linktr.ee/rollblockcasino
After touching a fresh multi-month low near 1.2350 on Thursday, GBP/USD staged a technical correction and closed in positive territory on Friday. Early Monday, the pair benefits from improving risk mood and continues to stretch higher toward 1.2500.
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.37% | -0.44% | 0.33% | -0.58% | -0.49% | -0.40% | -0.37% | |
| EUR | 0.37% | -0.08% | 0.64% | -0.15% | -0.08% | 0.00% | 0.03% | |
| GBP | 0.44% | 0.08% | 0.73% | -0.08% | 0.00% | 0.08% | 0.10% | |
| JPY | -0.33% | -0.64% | -0.73% | -0.90% | -0.80% | -0.69% | -0.47% | |
| CAD | 0.58% | 0.15% | 0.08% | 0.90% | 0.02% | 0.14% | 0.18% | |
| AUD | 0.49% | 0.08% | 0.00% | 0.80% | -0.02% | 0.09% | 0.09% | |
| NZD | 0.40% | -0.01% | -0.08% | 0.69% | -0.14% | -0.09% | 0.02% | |
| CHF | 0.37% | -0.03% | -0.10% | 0.47% | -0.18% | -0.09% | -0.02% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
Following a bearish start to the year, Wall Street’s main indexes gathered bullish momentum and registered strong gains on Friday. Early Monday, US stock index futures trade in the green, making it hard for the US Dollar (USD) to hold its ground.
December Factory Orders will be the only noticeable data featured in the US economic calendar on Monday. Ahead of this week’s key employment-related releases, however, investors are unlikely to react to this data. Hence, the risk perception could continue to influence the USD’s valuation and drive GBP/USD’s action.
On Tuesday, JOLTS Job Openings data for November and the ISM Services PMI report for December from the US will be watched closely by market participants.
The Relative Strength Index (RSI) indicator on the 4-hour chart rose above 50 and GBP/USD closed the last 4-hour candle above the 20-period Simple Moving Average (SMA), highlighting a buildup of recovery momentum.
On the upside, 1.2500 (static level, round level, 50-period SMA) aligns as immediate resistance before 1.2525 (Fibonacci 38.2% retracement) of the latest downtrend) and 1.2570-1.2575 (100-period SMA; Fibonacci 50% retracement). Looking south, first support could be spotted at 1.2460-1.2450 (Fibonacci 23.6% retracement, 20-period SMA) ahead of 1.2400 (round level, static level).
The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE).
The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects.
Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall.
Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
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There is an initial maximum supply of 200,000,000 BNB coins, of which 168,137,036 are currently in circulation as of September 2021.
Binance conducts quarterly burning of the BNB supply, with the goal of reducing the total supply by half — or 100,000,000 BNB. On July 18, 2021, it conducted its 16th quarterly burning, which was worth $390 million in BNB price at the time of burning. However, that was not the most expensive burn — on April 16, 2021, the exchange burned nearly $600 million worth, in BNB price at the time of burning.
According to the Binance whitepaper, exactly half of the maximum supply of BNB coins was allocated towards the initial coin offering (ICO) and public sale of the coin. The ICO was held in July 2017 shortly after the exchange launched, and saw Binance raise $15 million in funding, with BNB price at $0.10 during the ICO. Taking BNB price today, that represents an almost 4200X return on investment (ROI). Another 40% of the total supply, or around 80,000,000 BNB coins, was distributed among the founding members and team. Finally, the remaining 10% of the maximum supply was split among angel investors.
The 158 yen level is an area that’s been like a brick wall over the last couple of weeks, but we also have to keep in mind the past couple of weeks have been all about the holidays. Now there is market memory to be found at the 158 yen level, so it all ties in quite easily. I would be surprised to see this market go somewhat sideways, more of a buy on the dip attitude, but sideways overall between now and the jobs number next Friday.
That will be your first piece of major information that will possibly drive the US dollar higher in general. The PMI numbers came out during the trading session a little better than anticipated for the dollar. So that’s part of what the recovery was, but really, I don’t even think that was that big of a deal. I think this all comes down to people wanting to continue to own the greenback.
Even if we were to fall from here, the 155 yen level is probably a short-term floor, especially now that the 50-day EMA is running toward it. If we break above the 158 yen level, then the 160 yen level, and then the 161.50 yen level, both come into focus. I do think that eventually happens, and I like the idea of buying dips, because after all, you get paid via swap at the end of every day to hold this USD/JPY pair.
Want to trade our USD/JPY forex analysis and predictions? Here’s a list of forex brokers in Japan to check out.
