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13 12, 2024

Pound Slips Amid GDP Contraction, Eyeing Critical Support Level

By |2024-12-13T16:25:00+02:00December 13, 2024|Forex News, News|0 Comments

Key Events

  • Markets are bracing for final central bank decisions and insights for 2024 ahead of the holiday season
  • UK GDP contracted by -0.1%, raising questions ahead of Thursday’s BOE decision
  • FOMC and BOJ meetings next Wednesday and Thursday are expected to heighten market volatility
  • Key GBP events to watch: Flash PMI (Monday), employment data (Tuesday), and the BOE decision (Thursday)

US Data

Following the uptick in US CPI and PPI data, and the market’s priced in a Fed rate cut for next week, the US Dollar index stabilized above the 107-mark again. If the 108-resistance zone is breached, currencies may face critical lows, prompting central banks to adopt aggressive measures to stabilize their economies. Banks like the SNB, BOC, and PBOC have already announced drastic actions, with the ECB potentially following suit ahead of risks tied to Trump’s policies in 2025.

UK Data

Expectations of a BOE rate hold have been driven by inflationary pressures from the UK’s new labor law. However, the contraction in GDP to -0.1% heightens concerns about economic growth and complicates the BOE’s decision-making process. Increased volatility in the British pound is expected next week, influenced by flash PMI data on Monday and employment figures on Tuesday, which will play a final pivotal role in shaping BOE insights.

Technical Analysis: Quantifying Uncertainties

GBPUSD Forecast: Weekly Time Frame – Log Scale

GBPUSD Forecast: GBPUSD_2024-12-13_13-47-06

Source: Tradingview

Using the Fibonacci extension tool between the 2021 high, 2022 low, and 2024 high, the recent drop in GBPUSD has found support at the 0.272 extension level. The next significant support level lies at the 0.382 extension. Should GBPUSD fail to sustain its rebound above the critical 1.2480 level, further declines could test support zones between the October 2023 and February 2023 lows, with support zones 1.21 and 1.19.

On the upside, the current candlestick pattern forming above the 1.25 support indicates a weekly bullish engulfing pattern, signaling strong reversal potential. Key resistance levels to watch to resume a bullish scenario include 1.30 and 1.3170.

— Written by Razan Hilal, CMT on X: @Rh_waves and Forex.com You Tube

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13 12, 2024

Food and Supplements That Keep You and Your Heart Young

By |2024-12-13T16:23:33+02:00December 13, 2024|Dietary Supplements News, News|0 Comments


We do all sorts of things to look and feel younger. We exercise, meditate, obsess over our sleep, get Botox, color our hair, and the list goes on and on. But perhaps the most important aspect of our anti-aging ritual is diet.

Diet is the best tool for taking care of ourselves, three meals a day, everyday. And for those times when you don’t get what they need, supplements can help.

Important Foods to Eat as We Age

Fiber is increasingly important as we age, and a staggering 95 percent of Americans don’t get nearly enough, says Wendy Bazilian, a registered dietitian and author of The Plant-Based Plan. Foods like berries, chia seeds, leafy greens, whole grains, and legumes are all helpful for digestion but can also help reduce cardiovascular disease risk factors and improve immune health. 

Protein is equally as important because without enough of it, there’s an increased risk of sarcopenia, the progressive loss of muscle and function that happens as the numbers tick up. Protein can also build tissue that maintains the younger quality of our skin. Lean protein sources like chicken, fish, turkey, tofu, and beans are good choices, as well as fatty fish that contain omega-3 fatty acids, a polyunsaturated fat that’s important for heart health.

“Healthy fats are also the foundation for living well,” says Bazilian.

Sources of healthy fats from things like chia seeds, avocado, and nuts play a protective role for the heart, skin, and cognitive health, she says. In general, we’re learning that total fat in our diet is crucially important as we get older to look and feel our best. Avocados are a great source because they contain healthy fats, antioxidants, and fiber. Pistachios and walnuts are also chalked full of antioxidants. 

Eating the rainbow, in general, is important because fruits and vegetables contain thousands of phytochemicals that are a part of a plant’s immune system and keep us healthy. Eating a variety of them is essential for staying young. These include blueberries, blackberries, strawberries, cranberries, and raspberries, which contain high amounts of fiber and antioxidants. Green leafy vegetables are helpful for bone health and blood clotting. 

Read More: 4 Foods That are High in Fiber Other Than the Typical Bran Muffin

Foods That Are Important for Heart Health

Pomegranates are particularly good for aging and heart health because they’re high in anthocyanins, which reduce blood pressure and keep our blood vessels nice and healthy, says Michelle Routhenstein, MS, a preventive cardiology dietitian, registered dietitian nutritionist, and certified diabetes educator. This is crucial because as we age, our arteries can stiffen.

Fatty fish are also good for aging and heart health. Sardines can be a great source of omega-3 fatty acids, as well as calcium and vitamin D, which can be helpful for bone health. Tomatoes contain lycopene, which is good for lowering cholesterol, and oranges contain potassium and fiber, which lower blood pressure, says Routhenstein.

Read More: It’s Important to Eat the Rainbow: How Phytochemicals in Fruits and Veggies Can Improve Your Health

Helpful Supplements As We Age

While some dietary supplements can be helpful as we age, make sure consult with a doctor on what’s best for your health, first. Calcium and vitamin D can both help bone health, and vitamin B12 can build red blood cells and keep nerves healthy, especially if you’re a vegan or vegetarian. There’s also strong evidence that fish oil can help with heart health by reducing blood triglyceride levels and improving high-density lipoprotein, known as good cholesterol.

What you add to your diet is what matters most, not what you take away. Whole grains, fruits, vegetables, protein, and omega-3 fatty acids provide a double whammy when it comes to keeping you younger but also keeping your ticker going strong. And in the end, it’s the whole picture that matters most.

“There’s no single food that helps you age; rather, it’s the totality of your diet,” says Routhenstein. 

Read More: What You Need to Know About Vitamin C, Vitamin B, Turmeric, and Fish Oil

Article Sources:

Our writers at Discovermagazine.com use peer-reviewed studies and high-quality sources for our articles, and our editors review for scientific accuracy and editorial standards. Review the sources used below for this article:

Sara Novak is a science journalist based in South Carolina. In addition to writing for Discover, her work appears in Scientific American, Popular Science, New Scientist, Sierra Magazine, Astronomy Magazine, and many more. She graduated with a bachelor’s degree in Journalism from the Grady School of Journalism at the University of Georgia. She’s also a candidate for a master’s degree in science writing from Johns Hopkins University, (expected graduation 2023).



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13 12, 2024

Could XRP Become a Top 3 Crypto Again?

By |2024-12-13T16:19:34+02:00December 13, 2024|Crypto News, News|0 Comments

XRP briefly became the third-largest cryptocurrency by market capitalization in 2017. However, it has since fallen to #6 due to the legal battle between Ripple and the SEC, network congestion issues, and strong competition from Ethereum and Solana. 

This year, Ripple rolled out several important updates that boosted XRP Ledger’s adoption. The post-election rally also benefited XRP, which surged by 176.08% over the month. 

But to become the top 3 crypto again, XRP needs to outperform Ethereum. Strong technical indicators suggest this could be feasible in the upcoming years. 

In the meantime, the new Layer-2 solution PlutoChain (PLUTO) taps into the growing Bitcoin dApp market. This technology could position BTC as more than just a store of value and strengthen its #1 position.

Can XRP Outperform ETH? 

Ethereum, the leading Layer-1 network for decentralized applications, often struggles with high fees and slow transaction times. As a result, some users seek alternative solutions.

One such solution is Ripple, which has recently introduced native smart contracts on its XRP Ledger and the XRPL EVM sidechain, which is compatible with Ethereum. Additionally, the update includes Multi-Purpose Tokens (MPTs), Credentials, and improved support for NFTs and AMMs.

Ripple is also pursuing collaborations with other projects, including the Layer-1 blockchain network Cardano. These updates make XRP Ledger more appealing to developers and extend its applications beyond cross-border payments.

AD 4nXe96 ioB YEPu 5d6EiBb9yFTEUxdi oqhSqMQOzv13vwqeDQRM9WF8Y

ETH is currently priced at $3,619, 25.84% lower than its all-time high of $4,891.70 recorded in 2021. XRP has consolidated around $1.46 after its recent attempt to break the $1.61 resistance level.

Technical indicators suggest that ETH may continue to rise in price in the short term and reach $4,215 by the end of the year. This would bring ETH’s market cap to over $507 billion. 

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XRP, too, shows strong performance and may hit $3 in 2025. If it happens, XRP’s market cap would be $171 billion. To outperform ETH, XRP needs to reach at least $8.91, which might happen by 2030.

PlutoChain Aims to Uncover Bitcoin’s Potential 

While Ethereum and XRP vie for supremacy in the decentralized application space, Bitcoin remains primarily a store of value. PlutoChain could expand Bitcoin’s functionality through smart contracts and Ethereum Virtual Machine compatibility.

The total value locked (TVL) in BTCFi applications is only 0.13% of Bitcoin’s total market value. In comparison, Ethereum DeFi applications account for 10% of Ethereum’s TVL, which highlights the significant growth potential for the sector.

PlutoChain’s Layer-2 solution enables developers to create native applications on Bitcoin and migrate existing Ethereum applications, such as DeFi protocols, NFT marketplaces, and P2E games. This could unleash the full potential of Bitcoin’s $1.9 trillion economy.

AD 4nXeHG w1y2eKhRMGVbH2TFSFqT8x FbJVbmgd10Vt8CixaP2WMDa2evC0UxiztJkTI6mN5KXzcyk5BR231njrEWXF6iTboSol7WB3F8Uw7g4GqTp8uc1 896sQAD 4nXeHG w1y2eKhRMGVbH2TFSFqT8x FbJVbmgd10Vt8CixaP2WMDa2evC0UxiztJkTI6mN5KXzcyk5BR231njrEWXF6iTboSol7WB3F8Uw7g4GqTp8uc1 896sQ

At its core, PlutoChain might accelerate and reduce the cost of Bitcoin transactions. Essentially, PlutoChain could serve as a secondary layer that processes a significant portion of transactions and allows the Bitcoin mainnet to focus on its primary functions.

To guarantee the security of user funds and personal data, PlutoChain underwent a thorough security audit conducted by SolidProof. The audit verified the absence of major vulnerabilities or code bugs.

Additionally, PlutoChain’s community-driven governance model empowers $PLUTO holders to shape the project’s direction. This ensures the project’s development aligns with the interests of its users.

AD 4nXcuWZ2DlaJKESPjs55AuBS QwvSQD7V9vFE6IBYwQw9wSbA2yGKpSSZMoPZXvuYozj517pqPhKVXFWKOI9MDJQ41iv9efp7 JuMXvAD 4nXcuWZ2DlaJKESPjs55AuBS QwvSQD7V9vFE6IBYwQw9wSbA2yGKpSSZMoPZXvuYozj517pqPhKVXFWKOI9MDJQ41iv9efp7 JuMXv

BTC, ETH, and USDT are currently the biggest cryptocurrencies by market cap. However, this may change in the future as projects like XRP Ledger address the limitations of leading blockchain networks. 

We may also see growing adoption of Layer-2 networks like PlutoChain, which could drive the expansion of the Bitcoin ecosystem. 

Visit the links below to learn more about PlutoChain and its unique features:

Official Website: https://plutochain.io

X/Twitter Page: https://x.com/plutochain/ 

Telegram Channel: https://t.me/PlutoChainAnnouncements/ 

This article do not offer financial advice. Cryptocurrencies can be unpredictable and carry risks. It is important to conduct thorough research before acquiring any crypto asset. Forward-looking statements carry risks and are not guaranteed to be updated.



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13 12, 2024

Fed and BoJ decisions to ignite FX market volatility

By |2024-12-13T14:24:08+02:00December 13, 2024|Forex News, News|0 Comments

  • Fed and BoJ rate decisions land hours apart, driving USD/JPY volatility
  • A 25bps Fed cut is widely expected, focus shifts to updated rate projections
  • BoJ’s rate move remains uncertain, with a hike over 15bps likely yen-positive
  • Rising US Treasury yields continue to support USD/JPY upside momentum

Overview

The final working week of 2024 shapes up as pivotal for USD/JPY traders, with the Federal Reserve and Bank of Japan interest rate decisions landing just hours apart. These twin events overshadow all other data, including the Fed’s preferred inflation measure, the core PCE deflator, released on Friday. How the market reacts to these decisions will likely define USD/JPY’s trajectory as we enter 2025.

Central bank decisions collide

Before digging into the detail, here’s the major events calendar for the United States and Japan next week. Note times shown are US Eastern.

Source: TradingView

While Tuesday’s retail sales and Friday’s PCE reports will offer key updates on the health of the US consumer – the largest driver of the US economy – the week will be dominated by the Fed’s interest rate decision rather than its preferred inflation gauge, the core PCE deflator. The latter rarely surprises these days, leaving the Fed decision as the far more significant event for USD/JPY traders.

Hawkish Fed cut incoming?

With a 25bps cut now seen as a near-certainty, the Fed’s updated economic and interest rate projections are expected to drive market movements. These projections will not only influence the front end of the US interest rate curve but also the belly and back end, which have been pivotal in driving USD/JPY moves.

JPY correlations Dec 14 2024

Source: TradingView

Jerome Powell’s remarks last month – highlighting that downside risks to the labour market had diminished while inflation remained more persistent than anticipated – have traders on edge for a potential hawkish cut. The Fed’s forward guidance will therefore be key.

Unemployment is likely undershooting, and inflation overshooting, the Fed’s September forecasts. With 100bps of rate cuts set to be delivered in 2024, as outlined three months ago, the question now is how much easing the Fed signals for next year, and where members see the neutral funds rate, where inflation pressures and unemployment stabilise.

FOMC Sep 2024 projections Dec 14 2024

Source: Federal Reserve

In September, the Fed anticipated 100bps of cuts and a neutral rate of 2.9%. Both now seem overly dovish given recent data flow. This opens the door to a more restrained signal, perhaps as few as two, or even one, rate cut for 2025 in the updated dot plot. If the Fed maintains a projection for four 25bps cuts, it could stoke concerns about its willingness to finish the inflation fight.

The long-run dot, reflecting the median FOMC estimate for the neutral policy rate, may also shift higher. While members have been cautious about revising these projections, a minor adjustment to 3% or slightly above seems likely. A larger revision to 3.2% or more could trigger a sharp rise in US Treasury yields, with the Japanese yen likely to feel the heat.

Bond traders think so

TN Dec 14 2024

Source: TradingView

Positioning for a hawkish adjustment is evident in US interest rate futures. Two- and 10-year contracts have broken down over the past week, signalling expectations for higher yields.

The 10-year Treasury note future has rolled over decisively, with momentum shifting sharply to the downside. With uptrend support wiped out, further price weakness looks likely in the near term, pointing to rising US Treasury yields and potential US dollar strength against the yen.

One roadblock standing in the way of continued USD/JPY upside is the BoJ interest rate decision on Thursday.

Get our exclusive guide to USD/JPY trading in Q4 2024

BoJ impact set to fade fast

It’s likely to spark volatility in USD/JPY as soon as the outcome is released, with traders divided on whether the BoJ will lift overnight rates and, if so, by how much. Will it opt for a 10, 15, or 25bps hike, or hold off until February or March?

While the outcome is uncertain, one thing is clear: a hike exceeding 15bps would likely trigger a downside move in USD/JPY as the yen strengthens. On the other hand, if the BoJ keeps rates unchanged, there’s a solid chance of a kneejerk upside reaction.

That said, the US rate outlook remains the dominant driver of USD/JPY movements for now. Once the initial volatility from the BoJ decision fades, expect US Treasury yields to reassert their influence.

Higher US yields powering USD/JPY upside

JPY Dec 14 2024

Source: TradingView

The impact of higher US Treasury yields on USD/JPY is obvious on the daily chart, with the pair resuming its push higher just as yields bottomed. Having cleared the important 200-day moving average, and with momentum indicators like RSI (14) and MACD generating bullish signals, for the first time in weeks, a bullish bias is preferred.

Resistance is located at 153.80, 155.89 and 156.75, the latter the high struck immediately before the US presidential election. On the downside, support is found at the 200DMA, uptrend support around 151 and 148.65.

Good luck with your trading and thanks to everyone who has read these weekly outlook guides in 2024. Coverage in 2025 will resume midway through January.

— Written by David Scutt

Follow David on Twitter @scutty

 



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13 12, 2024

Will Solana Reach 1200$ in 2025? Solana Price Prediction and Whale Strategies Unveiled

By |2024-12-13T14:18:31+02:00December 13, 2024|Crypto News, News|0 Comments

Solana remains one of the most talked-about cryptocurrencies on the market, celebrated for its widespread utility and diverse use cases.

About two weeks ago, it hit a new all-time high (ATH) of $263, sparking optimism within the crypto community about its potential movements in the coming year.

While it has since pulled back slightly from that peak, Solana continues to dominate DEX trading volumes.

According to DeFiLlama, Solana has recorded the highest trading volumes over the past 30 days, solidifying its reputation as one of the most used blockchains.

At the same time, the new PlutoChain ($PLUTO) project is gaining attention from whales due to its innovative approach to blockchain technology. With the help of its hybrid Layer-2 blockchain, it could improve Bitcoin’s system with new functionality and better scalability.

Let’s check out the details.

Solana’s Recent Rally Sparks Bullish Predictions For The Upcoming Year – How Will This Affect Other Projects?

Solana has been making headlines recently after achieving a new all-time high (ATH), sparking excitement about its potential for further growth in the coming years.

Currently trading at approximately $234, which marks a 10% decrease from its recent milestone, Solana’s minor pullback has done little to affect investor confidence.

Its well-established ecosystem, widely used for developing diverse projects ranging from DeFi platforms to meme coins, has earned a reputation as a reliable and innovative blockchain.

Axel van den Boogaard, a prominent crypto analyst, predicts a bullish trajectory for Solana, estimating it could reach between $538 and $610 by the end of 2025.

Meanwhile, experts from CoinDCX forecast a more conservative range of $380 to $450. Regardless of these varying short-term predictions, the consensus among analysts is that Solana has the potential to hit $1,200 by 2026.

These projections show why Solana is seen as a strong long-term investment, offering a balance of stability and room for growth as its utility and adoption keep expanding.

Its success could also inspire other projects to follow its lead and explore similar opportunities.

PlutoChain ($PLUTO) Introduces a Hybrid Layer-2 Solution That Could Change Bitcoin as We Know It

PlutoChain ($PLUTO) could transform Bitcoin’s network by introducing a hybrid Layer-2 blockchain that might enhance its functionality without compromising security.

Will Solana Reach 1200$ in 2025? Solana Price Prediction and Whale Strategies Unveiled

Designed to overcome Bitcoin’s inherent limitations, such as slow transaction speeds and high costs, this project’s advanced technology could pave the way for a more scalable and efficient ecosystem.

By significantly reducing fees and increasing processing speeds, it could offer a practical and user-friendly solution for both developers and end-users.

One of PlutoChain’s standout features is its compatibility with Ethereum’s Virtual Machine (EVM).

This feature allows developers to seamlessly migrate Ethereum-based decentralized applications (DApps) to Bitcoin’s network – potentially combining Ethereum’s flexibility with Bitcoin’s security.

This compatibility could encourage broader adoption of Bitcoin as a platform for DeFi applications, NFTs, and other emerging use cases.

Security and decentralization are at the core of this project’s design as it has passed rigorous audits from SolidProof and Assure DeFi, making it reliable and trustworthy.

This Project Steps Away From The Top-Down Management Model – The Community Has Total Autonomy Over Its Future

PlutoChain takes a unique approach by recognizing the essential role of its community in developing a successful blockchain project.

Unlike many other platforms, this one gives full power to its users through a decentralized governance model where every opinion is valued.

This innovative approach creates a collaborative environment, making sure that decisions reflect the collective vision of the community.

All users can contribute by sharing their ideas, casting votes on significant decisions, and reviewing suggestions from other members.

This open and inclusive process happens through the project’s official Discord channel, a central hub for discussions and decision-making.

PlutoChain empowers its community, placing users at the center of decision-making and ensuring the platform evolves through collaboration and shared ideas.

PlutoChain

The Bottom Line

Projects like Solana are showcasing the potential of blockchain technology to revolutionize various industries.

Its ability to support diverse applications, from decentralized finance to digital collectibles, highlights the importance of adaptable and innovative networks.

Emerging projects like PlutoChain ($PLUTO) could also push boundaries by addressing long-standing challenges within the blockchain industry.

With its focus on enhancing scalability, functionality, and user accessibility, this project could represent a new wave of Bitcion’s innovation.

Its hybrid Layer-2 technology and focus on community involvement could drive major advancements in Bitcoin’s utility.

You can check out the project’s whitepaper to fully understand its transformative vision.

Visit the links below to learn more about PlutoChain and its unique features:

Official Website: https://plutochain.io
X/Twitter Page: https://x.com/plutochain/ 
Telegram Channel: https://t.me/PlutoChainAnnouncements/ 

This article do not offer financial advice. Cryptocurrencies can be unpredictable and carry risks. It is important to conduct thorough research before acquiring any crypto asset. Forward-looking statements carry risks and are not guaranteed to be updated.

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.

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13 12, 2024

XAU/USD attracts some buyers to near $2,700, traders brace for Fed rate decision

By |2024-12-13T13:46:00+02:00December 13, 2024|Forex News, News|0 Comments


  • Gold price rebounds to around $2,690 in Friday’s Asian session, adding 42% on the day. 
  • Gold demand and geopolitical risks could support the Gold price. 
  • The cautious stance of the Fed due to Trump tariff policies might put pressure on the USD-denominated Gold. 

Gold price (XAU/USD) recovers some lost ground to around $2,690 during the Asian trading hours on Friday after retreating from a five-week high in the previous session. All eyes will be on the US Federal Reserve (Fed) interest rate decision next week.

Gold buying by central banks, including the People’s Bank of China (PBoC) could provide some support on the yellow metal. The Chinese central bank resumed gold purchases in November after a six-month hiatus, increasing its reserves to 72.96 million fine troy ounces. This move comes as Beijing signals a shift to an “appropriately loose” monetary policy, with plans for a more proactive fiscal approach in 2024. Goldman Sachs analysts noted that the People’s Bank of China (PBoC) “may even increase Gold demand during periods of local currency weakness to boost confidence in their currency.”  

Additionally, the escalating tensions in the Middle East might boost the safe-haven demand flows, benefiting the precious metal. Reuters reported that an Israeli strike killed at least 30 Palestinians and wounded 50 others who were sheltering in a post office in the central Gaza Strip, bringing the death toll on Thursday in the enclave to 66.

On the other hand, the speculations that US President-elect Donald Trump’s tariff policies might prompt inflation might convince the Fed to adopt a more cautious stance on cutting interest rates. This, in turn, could act as a headwind for non-yielding assets like gold. According to CME Group’s FedWatch Tool, traders are now pricing in a nearly 96.4% chance that the Fed will reduce its rate by 25 basis points (bps) rate cut at the December meeting.

Gold FAQs

Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.

Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.

Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.

The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

 



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13 12, 2024

Dovish ECB Rate Cut (Chart)

By |2024-12-13T12:23:21+02:00December 13, 2024|Forex News, News|0 Comments

  • During my analysis of the EUR/USD pair on Thursday, the first thing that I would have to bring to the forefront is the fact that the statement coming out of the European Central Bank was dovish.
  • While the ECB did of course cut rates by 25 basis points as expected, the reality is it’s the statement that everybody was paying attention to.

It is worth noting that according to the European Central Bank, they expect the European economy to recover over the next several years, but they also recognize that there could be a bit of sluggish short-term growth due to geopolitical risks and consumer confidence issues. While I agree with that assessment, I think Europe has major structural issues that they will have to come to terms with, and there could be a bit of a crisis when it comes to sovereign debt before this is all said and done, but I digress.

Technical Analysis

The market initially tried to rally during the day but was squashed as it entered a fairly significant area of consolidation. That being said, it is probably worth noting that we are still in that consolidation, albeit just barely. The market is seemingly using the 1.05 level for a bit of an anchor at the moment, and as long as that’s the case, I think range bound traders will be attracted to this market. However, there’s really nothing to suggest that the euro is suddenly going to take off to the upside against the US dollar. While we do have the Federal Reserve meeting next week, it’s expected that the Americans will probably sit still with their monetary policy until at least March.

This sets up the possibility of more “fade the rally” type of set ups in this market. If we were to break that 1.03 level underneath though, we will hit parity before it is all said and done. While I don’t know if that happens right away, that’s exactly what I expect to happen before the trend reverses.

Ready to trade our Forex EUR/USD daily forecast? We’ve shortlisted the best forex broker list for you to check out. 

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13 12, 2024

Govt Initiates Modernisation of Export Rules for Dietary Supplements

By |2024-12-13T12:22:06+02:00December 13, 2024|Dietary Supplements News, News|0 Comments


The New Zealand Government has announced the first steps in modernising the regulation of exported dietary supplements, aiming to address long-standing barriers to international trade. The initiative was unveiled by Associate Health Minister Casey Costello, Food Safety Minister Andrew Hoggard, and Trade Minister Todd McClay.

The Dietary Supplements Regulations 1985 will be moved under the Food Act 2014, replacing outdated frameworks tied to the repealed Food Act 1981. This update will enable exporters to apply for exemptions from New Zealand’s labelling and composition requirements, aligning products with international standards.

“We’re taking immediate steps to ease the regulatory burden on dietary supplement exporters while planning for broader reforms,” said Associate Health Minister Casey Costello. “These changes are about supporting the sector now and setting the stage for future growth.”

Levelling the Playing Field for Exporters

Minister Hoggard highlighted the challenges exporters currently face, noting that outdated rules hinder market access.

“Our exporters often struggle to compete globally because of these antiquated regulations. In some cases, New Zealand-made dietary supplements can’t even enter key markets despite meeting international standards. These changes will ensure our businesses compete on a level playing field,” he said.

Aiming for Export Growth

The reforms align with the Government’s broader goal of doubling export value within 10 years, Trade Minister Todd McClay added.

“This initiative removes unnecessary red tape, enabling the dietary supplement industry to contribute more to New Zealand’s trade objectives. It’s a significant step forward for one of our most innovative sectors,” Mr McClay said.

Future Plans for Comprehensive Regulation

The changes announced today are part of a larger effort to modernise how natural health products are regulated. The Government plans to replace the Medicines Act with a Medical Products Bill while creating a standalone Natural Health Products Bill.

“We’ve heard the industry’s concerns: natural health products should not be regulated alongside medicines. Our approach will reflect this distinction,” Minister Costello confirmed.

Officials at the Ministry for Primary Industries and the Ministry of Health are working on interim improvements while the standalone Natural Health Products Bill is developed.

Industry and Government Collaboration

The Government emphasized its commitment to ongoing engagement with the natural health sector to refine the export regime and regulatory framework.

“These reforms mark the beginning of a collaborative journey with the industry to unlock its potential and support New Zealand’s economic growth. We’ll have more announcements in the new year,” said Minister Costello.

The modernised rules for dietary supplements are expected to pave the way for enhanced market access, stronger trade partnerships, and a more competitive position for New Zealand in global markets.



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13 12, 2024

ChatGPT and Google Gemini Predict How High Dogecoin Price Could Rise After Trump’s Inauguration

By |2024-12-13T12:17:45+02:00December 13, 2024|Crypto News, News|0 Comments

Popular AI chatbots ChatGPT and Google Gemini predict Dogecoin price after the inauguration of President-elect Donald Trump.

The projections come on the back of growing investor optimism around Dogecoin following Donald Trump’s victory. For context, the Nov. 5 election victory triggered a massive DOGE rally, with the meme coin now up 155% since November. 

However, currently trading at $0.40, Dogecoin’s future remains uncertain amid an ongoing consolidation phase. With this market uncertainty, speculation has emerged about its potential performance after Trump’s inauguration in January 2025. 

Interestingly, the two AI chatbots, OpenAI’s ChatGPT and Google Gemini, presented their predictions on how the original meme coin might react to the political development.

ChatGPT’s Dogecoin Price Predictions  

ChatGPT noted that Dogecoin’s trajectory will largely depend on Trump’s policies toward cryptocurrencies and the broader market sentiment during his presidency. 

The chatbot suggested that If Trump enacts pro-crypto measures, such as introducing new regulations favoring digital assets or encouraging institutional adoption, the resulting optimism could lead to massive price gains.  

ChatGPT outlined three scenarios based on potential market capitalization growth. The first scenario sees Dogecoin at a market cap $125 billion, an addition of about $65 billion from its current valuation.

In this scenario, Dogecoin’s price could reach approximately $0.84. According to the chatbot, this outcome assumes a sustenance of positive sentiment and steady interest from institutional and retail investors.  

For the second scenario, ChatGPT assumes a Dogecoin market cap of $200 billion. Should this occur, its price could rise to $1.35. This would likely demand favorable policies and an increase in community momentum.  

Meanwhile, ChatGPT says Dogecoin’s price might climb to $3.37 under a highly bullish scenario that could take its market cap to $500 billion. Achieving this would demand massive growth in adoption and investment.

Notably, ChatGPT stressed that Dogecoin’s volatile nature, coupled with its tendency to rally on hype and endorsements, makes these scenarios plausible but uncertain. The extent of any surge would depend on Trump’s actions and broader crypto market trends.  

Google Gemini’s Dogecoin Price Predictions  

Interestingly, Google Gemini took a slightly different approach. Its approach considered multiple external factors that could influence Dogecoin’s price following Trump’s inauguration next year.

The chatbot noted that in a sustained cryptocurrency bull market, with Dogecoin gaining utility as a payment method, the price could range between $1 and $2. For context, an increase in mainstream acceptance and utility would be major drivers in this scenario. 

ChatGPT and Google Gemini Predict How High Dogecoin Price Could Rise After Trump’s Inauguration
Dogecoin Price Prediction | Google Gemini

Secondly, Google Gemini spotlighted Elon Musk’s influence. It believes that if Elon Musk, a longtime Dogecoin supporter, continues to endorse the coin or integrates it into Tesla or other ventures, the price could rise to between $0.50 and $1.00. 

Further, according to the chatbot, should favorable regulations emerge as Trump takes office, they could attract more institutional investors, and Dogecoin could stabilize and rise to between $0.75 and $1.50. 

However, in a near market scenario, Google Gemini sees the market entering a bearish phase or Dogecoin losing its appeal. With this, the chatbot believes the price could drop to between $0.25 and $0.35.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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13 12, 2024

XAG/USD falls to near $31.00 after breaking below ascending channel

By |2024-12-13T11:45:08+02:00December 13, 2024|Forex News, News|0 Comments


  • Silver price extends its losses amid a momentum shift to bearish from bullish bias.
  • The emergence of the bearish bias is confirmed as the 14-day RSI breaks below the 50 mark.
  • XAG/USD may find immediate barriers at the 14-day EMA at $31.17, aligned with the nine-day EMA at $31.22.

Silver price (XAG/USD) extends its losses for the second session, trading around $30.90 per troy ounce during the Asian hours on Friday. The daily chart analysis indicates a momentum shift to bearish from bullish bias as the pair has broken below the ascending channel pattern.

The XAG/USD pair moves below the nine- and 14-day Exponential Moving Averages (EMA), indicating an ongoing bearish outlook and signaling to weaken short-term price momentum. This points to increasing selling interest and raises the likelihood of further price depreciation.

Additionally, the 14-day Relative Strength Index (RSI) falls below the 50 mark, further confirming the emergence of the bearish bias.

On the downside, the XAG/USD pair could navigate the region around the psychological level of $30.00, followed by a “throwback support” level at its three-month low of $29.65, which was recorded on November 28.

The immediate barriers appear at the 14-day EMA at $31.18, followed by the nine-day EMA at $31.22. A break above these levels could cause the bullish bias to re-emerge and help the Silver price to return to the ascending channel pattern.

A return to the channel would support the XAG/USD pair to retest its five-week high of $32.28, followed by the ascending channel’s upper boundary at $33.00.

XAG/USD: Daily Chart

Silver FAQs

Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.

Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.

Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.

Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.



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