The total market value of digital currencies also declined to reach $ 104 billion, its lowest level since August 2017, amid growing fears that it will abandon the $100 billion level.

Some digital market analysts believe that the bitcoin has reached the bottom at the highest levels of 3000 dollars, on the other hand, some analysts see the dark side of the bitcoin, as they believe that it has not reached the bottom yet and expects it to reach between the ranges of 2000 dollars to 2500 dollars and this will put its future on the line .

CoinMaketCap announced its latest data for digital currencies, stating that the total market value of digital currencies has decreased to seven of its value since the beginning of this year, and bitcoin lost about 80% from its highest level ever during this year at $ 17172.3 last January, Ethereum has fallen by about 90% since the beginning of this year.

Last week saw some positive news that wasn't enough to push bitcoin higher. Gemini, which was founded in 2015 by the Winklevoss brothers, was reported to have announced that it would aggressively support bitcoin cash once it received approval from the New York Financial Services Authority.

In Venezuela, Venezuelan President Nicolas Maduro said that his country will use the “petro” digital currency to sell oil next year, with the aim of reducing dependence on the US dollar.

Some politicians in France have called on French President Emmanuel Macron to invest about 500 million euros in the blockchain industry, with the aim of making France an incubator for the blockchain industry. Jean Michel of the ruling party said that blockchain technology is ten years old and is currently moving from the experimental stage. to the implementation stage.

The Wall Street Journal reported that companies involved in cryptocurrency trading are beginning to reduce the number of their employees in order to survive long in a market that suffers from a lot of turmoil, and the newspaper reported that ConsenSys is considering cutting about 13% of its employees, and Steemit, which specializes in technology The blockchain has reduced its number of employees by 70%.

Dutch media reported that the Central Bank of the Netherlands is looking at ways to regulate digital currencies in the country, as digital currency service providers in the Netherlands will need to obtain a license by providing data on their customers and reporting unusual and suspicious transactions, and this step aims to prevent the use of Digital currencies are involved in suspicious activities such as money laundering and terrorist financing, and the bank did not specify any time details for the implementation of this decision.

As for the central bank meetings, three meetings of the largest central banks in the world will be held. On Wednesday, we will be on a date with the Federal Reserve meeting amid expectations of raising interest rates, and the European Central Bank will also meet in light of increasing expectations that the bank will announce a date The end of his stimulus program, and monetary policy makers will meet at the Bank of Japan.

The following are details of the five most important events affecting the movements of the financial markets:

1 The consequences of the G7 meeting

The G7 meeting ended on negative developments towards the escalating trade dispute due to the tariffs imposed by the United States, as US President Donald Trump exited early from the meeting and refused to participate in the closing statement in addition to criticizing Canadian Prime Minister Justin Trudeau, which It underlines the continuing tension and trade dispute between the United States and its major allies.

It is worth noting that the United States last week imposed tariffs on steel and aluminum imports on the European Union, Canada and Mexico, which led to increased fears in the markets about the escalation of global trade tensions.

2 The upcoming summit between the US President and the North Korean leader

Financial markets are eagerly awaiting the historic summit between US President Donald Trump and North Korean leader Kim Jong Un in Singapore on Tuesday, and nuclear weapons issues will be the main issue on the negotiating table.

This meeting comes after quarrels and controversial statements from both sides. During the past few weeks, the US administration canceled the meeting, and a few days later, the summit was announced again.

There are many doubts that Kim will not completely give up his nuclear program, while some believe that participation in the meeting is aimed at relieving the United States of economic sanctions on North Korea.

3 Federal Reserve meeting

At 18:00 GMT on Wednesday, the Federal Reserve will release the results of its regular meeting, amid expectations that the Fed will raise interest rates by 25 basis points, bringing interest rates between 1.75%-2.0%.

30 minutes after the meeting’s statement was issued, Bank President Jerome Powell will hold a press conference, amid anticipation from investors to learn more clues about the future of monetary policy during the second half of this year. The Bank will also announce its expectations for economic growth and inflation rates.

On the economic data front, the US economy will release important data on inflation rates, retail sales, industrial production and manufacturing conditions in New York State.

4 European Central Bank meeting

At 11:45 GMT on Thursday, the European Central Bank will release the results of its regular meeting, and expectations indicate that the bank will announce the date for ending its 2.5 trillion euro stimulus program, in a strong step for the European Central Bank’s direction to tighten its monetary policy before the end of this year. And 45 minutes after the monetary policy statement, Bank President Mario Draghi will hold a press conference.

Expectations have increased for the bank towards tightening its monetary policy, following the statements of the chief economist at the European Central Bank, Peter Bright, in which he indicated that the bank would reveal its plans to exit its stimulus program during the June meeting.

5 The results of the Bank of Japan meeting

Important forex news is also scheduled to announce the Central Bank of Japan on Friday its decision on its monetary policy, amid expectations that the bank will maintain its monetary policy and interest rates unchanged, and Bank President Haruhiko Kuroda will hold a press conference to discuss the decision.

Recently, some indications revealed that the Bank of Japan is paving the way for the start of discussions to reduce its stimulus program.

Global markets are also awaiting the release of many important data in the euro zone on growth and inflation data in the region.

Below are the most important forex news on the economic calendar this week

Monday October 30

Germany is scheduled to release data on inflation levels in addition to publishing a report on retail sales, Britain is to release a report on net lending, and in the United States, several important data are scheduled to be revealed about the reading of the core personal consumer spending and personal spending index.

Tuesday October 31

New Zealand is to publish a report on business confidence, and later today, China is also scheduled to release its official data on the manufacturing and service sectors, and the Bank of Japan will announce the benchmark interest rate, in addition to publishing a statement On the policies that determine economic conditions and the factors that affect the monetary policy decision, and that statement will be followed by a press conference for the President of the Bank, on the other hand, the eurozone will issue some preliminary data on economic growth and inflation in the region during the third quarter of this year.

Canada is also scheduled to release its data on economic growth and raw material price inflation, and later in the day, Central Bank of Canada Governor Stephen Poloz will testify before the House of Commons Financial Standing Committee in Ottawa, on the other hand. It is also scheduled to release several important data on the US economy, including the reading of the labor costs index and business activity in the Chicago area, in addition to other data on consumer confidence in the largest economy in the world.

Wednesday 1 November

Britain is scheduled to publish a report on the activity of the manufacturing sector, the United States is to publish a report on new jobs in the American non-farm sector, and the Institute of Supply Management will publish a report on the reading of the manufacturing index, this is also scheduled for today that the Reserve Board will The Federal Reserve will announce the benchmark interest rate as well as publish a statement on policies that determine economic conditions and the factors that affect monetary policy decisions.

Thursday 2 November

Australia will publish its data on the trade balance and construction approval, and in Britain a report on construction activity will be issued, and the Bank of England will announce the latest interest rate decision and publish the minutes of its meeting, and this announcement will be followed by a press conference by Bank Governor “Mark Carney” to discuss it The decision, and in the United States, the weekly report on initial jobless claims, in addition to other data on labor productivity and costs, is scheduled to be released, and “William Dudley” President of the Federal Reserve Bank of New York will speak.

Friday 3 November

Financial markets in Japan are scheduled to be closed for public holidays in the country, and in Australia a report on retail sales is scheduled to be published, and China is to publish a report on the Service Managers Index “Sizen”, while Britain is to release its report on the activity of the sector. Services, and in Canada, several important reports will be revealed about employment and trade, and the United States is scheduled to conclude this week’s dealings by issuing many important data about new jobs in the non-agricultural sector during the month of October, in addition to other data about trade requests. And the factory along with the non-manufacturing PMI reading.

On Tuesday, the British pound hit a six-month high at $1.2905

The pound rose by 2.2% against the US dollar during the week's trading, heading to record the second weekly gain in a row, after British Prime Minister Theresa May called for early parliamentary elections on June 8, after the majority of Parliament approved the elections.

At 07:45 GMT, the pound sterling against the US dollar traded at the level of 1.2815, and today's session opened at the level of 1.2812, to record the highest level at 1.2822 and the lowest level at 1.2793.

During trading today, Friday, the British pound stabilized against the US dollar in the European market, after the release of data on monthly retail sales. The actual reading came in at a low value of 1.9% for the month of March, while expectations indicated a value of 0.3%, and the previous reading had recorded a value of 1.4%.

Limited decline in the US dollar index

The US dollar index fell in a limited range during trading today, Friday, and the US economy is awaiting today a set of data on the manufacturing, services and housing sectors.

Today, the preliminary reading of the purchasing managers' index for the manufacturing sector was issued, and expectations had indicated 53.9 points for the month of April, while the previous reading recorded 53.3 points.

As for the non-manufacturing PMI, expectations indicated 53.7 points for the month of April, while the previous reading recorded 53.8 points.

Also, expectations for existing home sales indicated 5.61 million homes for the month of March, while the previous reading recorded 5.48 million homes in February.

pair technical analysis  GBPUSD

The British pound against the US dollar is trading at the level of 1.2790, where the price rebounded towards the downside after it failed to breach the resistance level as shown in the chart.

The pair is trading below the level of the average moving indicator line, and both Stochastic and MACD are showing a negative crossover towards the bearish trend on the four-hour time frame.

Therefore, the price is expected to continue the bearish trend to target 1.2715 in the near term

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The British pound is trading against the US dollar at the level of 1.2398, after the pair recorded the highest level at 1.2478, and it opened today's session at the level of 1.2470, recording the lowest level at 1.2382

The current decline in the level of the British pound comes after the decline in industrial production in Britain during February by 0.1% compared to a previous decline of 1.0%, and the expectations indicated a percentage of 0.3%, while the manufacturing production decreased by 0.7% compared to a decrease of 0.3%. 0.2% ratio.

The weak industrial sector data increased the negative pressure on the pound sterling, even after the release of the US jobs report, which showed inconsistency in data, but it did not affect the pound's trading.

The British pound generally remains under pressure from the Brexit negotiations, which officially began last week.

Technical analysis of currencies The British pound against the US dollar

The British pound fell against the US dollar to trade at the level of 1,2384, where the price is trading at the support level in conjunction with the presence of the Fibo line 38 as shown in the graphic.

Trading is now taking place below the moving average indicator line, and both Stochastic and MACD indicator are showing a negative crossover towards the bearish trend on the four-hour time frame.

Therefore, the price is expected to continue the bearish trend, targeting the next support level at 1,2340

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Indices

Indices measure the performance of the forex and stock markets and thus measure the performance in general of the economy, so the indicators in the financial markets play an important role, and among the most famous indices in the world are the SP 500, FTSE 100, DAX, and the Nikkei index, and there are indicators that measure the performance of a currency against a basket From other currencies unlike the dollar index and the euro index, while these indicators would benefit traders in anticipating the general trends in the markets, and at the present time it has become possible to trade these indicators in the same way that other financial instruments such as foreign currencies are traded and stocks.

margin

Margin or margin, is the amount of money that the financial broker requests in order to be able to trade through it, through the margin system, the trader can carry out the process of trading with an amount of money that exceeds the amount that he deposited in multiples, and whenever the margin requirement decreases, the greater the financial leverage For example, if the margin requirement of a broker is 10%, the leverage will be 10:1 or 10 times the amount you have in your account, which means that you will need only $10,000 to trade the equivalent of $100,000.

long position

A long position is the purchase of a financial asset, whether it is a stock, a currency pair or a futures contract, to be sold at a higher price in the future, for example: when a trader buys an asset, we say that this trader opened a long position.

short position

Short position is the process of selling a financial asset, to be bought in the future at a lower price, and it is also called short selling or short selling, and traders enter into short selling deals when they expect a decrease in prices, and they can enter at any time and easily In short selling deals on foreign currencies and futures contracts, in contrast to the stock markets, where it is difficult to enter into short selling deals, and in order to open short selling deals on stocks, you must borrow them from the financial intermediary in order to be able to sell them, while the short sales In the currency market, you buy the counter currency in the currency pair you want to sell.

Spreads

The price difference is the difference between the ask price and the offer price on a financial instrument at a specific moment in time, and the price differences are affected by the volumes of liquidity in the market.

Pip the point

It is the smallest unit of the price of any currency. Almost every two currencies price consists of five large numbers. As in the example of the euro / dollar, it is equal to 1.2538. In this example, one pip is equal to the smallest change in the fourth decimal, which is 0.001. If the currency price in any dollar pair, then pip is always One equals 1/100th of a cent, the obvious exception being the USD/JPY pair in which a pip is equal to $0.01.

Trading orders

Trading orders are defined as the orders that the trader sends through the trading platform to the company that acts as the intermediary when he has the desire to open or close a specific buy or sell deal, and trading orders are the orders that were made in the past period through the phone, which used to take time A drum, but nowadays, with a few clicks of a computer mouse, you can quickly and easily execute a buy or sell order.

The volatility in the euro levels returns during Friday's trading at the end of the week today, in light of the weak trading volumes in the financial markets ahead of the Christmas holidays in the global markets, which are witnessing a great shortage of financial liquidity, which pushed the euro to continue the sideways movement.

On the other hand, yesterday, Thursday, the European Central Bank issued an economic bulletin, which clarified the decision-makers’ interest in the inflation rate, which may reach the bank’s target of 2% in the medium term, which helped the euro to rise in a limited range yesterday, before returning to volatility at the end The week after it reduced its rise before closing yesterday's trading.

Inflation rate expectations helped the euro recover in light of the possibility of the European Central Bank adjusting its stimulus program, which would reduce the euro's monetary liquidity in European markets, which helps to return the euro to recovery.

Analytical outlook for the EUR/USD pair EURUSD   During this week

The euro-dollar pair is trading at the level of 1.0445, the pair traded in a limited range over the course of the week between the support level at 1.0351 and the resistance level at 1.0498, as shown in the graphic, within the occasional and limited trading, in light of the US dollar holding on to its highest level in 14 A year after the US interest rate hike this month.

Trading is now taking place at the moving average indicator line, and both Stochastic and MACD are showing a positive crossover towards the bullish trend on the four-hour time frame.

Therefore, the EUR/USD pair is expected to rebound towards the downside to retest the resistance level at 1.0498, and if the pair succeeds in breaching this level and stabilizing above it, we will witness more rise to target the next resistance level at 1,0550.

The difference between the currency market and the stock market

As for the forex and stock markets, they are similar in some things, which is that both involve buying and selling operations in order to achieve profits, but there are also many clear points of difference, other than the stock market, because forex has a greater degree of liquidity, and this means that Larger amounts of money are exchanged on a daily basis, and another major difference when comparing the forex market to the stock market is that forex does not have a specific place to exchange it and it is never closed, forex also involves trading between banks and brokers all over the world. The world also gives the opportunity to access the market 24 hours a day during the work week.

It is worth noting that there are some other differences between the stock and currency markets, including that the forex trade offers greater financial leverage than that found in the stock market. When someone decides to invest in the forex market, he can expect to achieve higher profits, but certainly this If he is qualified to do so, even if he is fully aware of the nature of work in this field, especially since in parallel with this feature that we mentioned, it is logical to say that the possibilities of loss are also greater and with large amounts of money in the same market.

There are many terms when dealing with the market Currency exchange Learning forex trading may be somewhat complicated for any beginner, when we look at the names that are used in forex, we will find that the pair symbol consists of two parts, the first part expresses one of the currencies, while the second part expresses the second currency that is used For example, the symbol usdjpy means the US dollar and the Japanese yen, and it is very important and necessary to be aware of what currency symbols mean when you start learning forex, and there are a large number of books and websites specialized in teaching traders how to trade in forex.

How to choose a good forex broker

For people who use forex, a trading broker is sometimes a good idea, brokers are those who are specialized and their expertise is not valued for money, especially for a novice trader, when you want to look for someone to act as a broker, there are many factors to consider, One of these factors when choosing a forex broker is to deal with a broker who offers low spreads, and the spread is calculated in points, or the difference between the purchase price of a particular currency and the selling price for it at some point, and because brokers in forex do not receive commissions, they get Their own income via the spread or the difference, when choosing a broker you should look at this information carefully and then compare it with what other brokers provide.

This is also one of the necessary things that you must remember, when looking for a forex broker, look for one that has the support of one of the major financial institutions, forex brokers are usually affiliated with major banks or similar types of financial institutions, if the broker is not affiliated With something like this, you have to keep looking for others, in addition to that the broker is better to be registered with the Futures Commission (FCM) and subject to the rules of regulation of the Commodity Futures Trading Commission (CFTC), you must make sure that the person acting as the broker To be backed and registered by a major bank or institution, as this ensures that you are dealing with a reliable broker who has sufficient experience in the field of forex trading.