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Bitcoin has surged past $56,000 thanks to Elon Musk investing more than $US1.6 billion into the crypto currency. Further to this he announced that Tesla will also begin accepting bitcoin as a form of payment for its products in the near future. Following this announcement we saw the price of Bitcoin reach $56,078.41. This move by Tesla further institutionalizes bitcoin as an accepted means of value in global business. Mr. Musk last week changed his Twitter bio to read #bitcoin a not so subtle sign of what was already in the works. With Tesla now in the mix, what will this mean for bitcoin and other crypto currencies in the near future? Make sure to check out our upcoming webinar Learn To Trade Forex
   
 

 

Learn how to trade forex from a profession money manager, Michael Harding.

Learn how to:
– Trade using proven trading strategies
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– Pick the right times to enter and exit a trade
And much more. Don’t miss out.
–Michael’s Experience–
Started trading in CFDs in 2008 and expanded to Forex in 2009 Entrepreneur/Self-Employed since 2006 Owned & Operated a Trading School since 2012 Launched LEFTURN a Managed Forex firm in Oct 4 2017
–Most Important Trading Lesson Learned–

People create rules and break them. When you break your own rule, it will cost you. Establishing a system that is unbreakable adds tremendous value to your strategy. Discipline is the core strength of a successful trader. Discipline is the difference between what you want now, and what you want most. Learn to cut loses and always stay focused on the big picture. Trading for a living is a marathon, not a race.

Asia Capital Markets is pleased to welcome Mark Coe as our new Market Research Analyst. With a wealth of knowledge and experience we are honored to have Mark and his team at MCC Capital Advisers partner with the ACM family.

Background of Mark Coe

Mark Coe is the founder of MCC Capital Advisors LLC. He has been a professional trader in both the equity and currency markets for almost two decades. During this time, Mark has dedicated considerable efforts to system and strategy research and design.

Mr. Coe formed COE CAPITAL ADVISORS LLC (NFA # 0363817) in August of 2005, to trade managed accounts in forex ( retail off-exchange foreign currency), until March of 2010. At Coe Capital Advisors LLC, Mark took on the role of head trader.

A lifelong dream to serve in the United States Military became a reality in March 2010 as Mark enlisted in the US Army. Mark served as SPC, Infantry. Mark was discharged in May 2010 and chose to again focus efforts in the Foreign Currency market at which point he formed MCC Capital Advisors on Oct 4, 2010 and serves as managing principal of MCC Capital Advisors LLC.

Mark is a graduate of Florida State University with a bachelor’s degree in International Affairs. Mark is Series 3 and Series 34 licensed with the NFA (#0342756).

Mark became an approved principal of Coe Capital LLC on August 23, 2004 and an NFA Associate Member and a registered associated person of Coe Capital LLC on August 24, 2004. On March 11, 2010 withdrew as a principal and associated person of Coe Capital Advisors and as an NFA Associate Member. Oct 8, 2008 Mark became an Approved Principal of MCC Capital Advisors LLC (NFA #0425394). Oct 13, 2008 Mark was registered as a Forex Associated Person and Associated Person of MCC Capital Advisors LLC and an NFA Associate Member.

To get an insight on Mark’s trading methods and analysis, read his articles posted on our news page and socials each day. Also stay tuned for new services which will be made available to all Asia Capital Markets clients which will give approved individuals the opportunity to have their money managed by Mark through MCC Capital Advisors LLC using your MT4 trading platform registered through us. Contact us for more information.

Traders sit stranded as they wait for the Michigan Consumer Sentiment numbers to sail in. Not much change is expected with optimism dropping due to caution surrounding corona. People will await the election result to see what will come of the economic policy for 2021. Expectations show that the MCSI will increase to 80.5 from 80.4 in September. #MichiganConsumerSentiment #CSI #AmericanCSI #RetailSales #USDThe bulls have charged through resistance and looking strong for the day. With the RBA deciding to keep the interest rates on hold at 0.25% we see the AUD/USD hovering around 0.7200. All eyes will be on the Federal Budget where tax cuts are expected to be announced. Technically the pair looks strong to hold its ground above 0.7200 but a fall bellow 0.7115 can be a considered as a break to the downside. #RBA #RBAratedecision #AUDUSD #FederalbudgetEuro is struggling to break support set at 1.1700 after German PMI reports came in mixed. With the dollar continuing it’s run up we can see the sellers taking out 1.1700 and beyond. With Powell due to speak and PMI prints are due keep an eye out for further entrancement to 1.1500. #German #PMIs #PMI #EURUSD #EURO #ACM #asiacapitalmarkets<!– –> Yes, that’s right, we are giving away free iPhone 11 Pro Max to new traders. Terms and conditions apply. Don’t miss this opportunity! Sign up now!Just when you though it couldn’t go any hire the bulls line the street and take charge picking up everything around the $2000 mark. Already on an 8 week rally, bullish traders take bids near $2020. Once again proving to be the safe haven for traders and investors alike, the yellow metal has risen more than 32% for the year thus far. Although it has broken through the psychological barrier of $2000 a correction is most likely to come. I would look at the a support level of $1875 to be hit first and a break beyond that see $1830 as the next target. But with this in mind, overall the metals long term outlook still remains bullish.The US’ manufacturing sector performs better than the market expectation of 53.6. Beating June’s PMI’s performance of 52.6 and rising to 53.6. So far we see the market reacting positively by pushing the currency to 93.75.After strong rallies and hitting levels never seen before, gold hold steady around $1940-$1945. Not much has changed since our last update. The US and China tension and the increase in COVID-19 cases has given the precious metal a cushion to lay on. Key Technical levels For the Bears A look at the previous high at $1921.14 would be the early target. For the Bulls To the upside, the immediate hurdle is around $1937. Should Gold hold above that look to target the current all time high of $1944.74. A break past this may see a run to $1950.  

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