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#331 » by instaforexbuk [691 βCoins] » February 8th, 2018, 8:08 am

Fundamental Analysis of EUR/GBP for February 8, 2018

EUR/GBP has recently rejected off the 0.89 resistance area having downwards sloping trend line which is expected to push the price lower towards the 0.8750 support area in the coming days. The consolidation in the pair was due to mixed economic reports on both currencies of the pair where GBP is currently expected to take the lead and dominate further in the coming days. Today, GBP Official Bank Rate report is going to be published which is expected to remain unchanged at 0.50%, and MPC Official Bank Rate Votes is also expected to be unchanged at 0-0-9. Along with these, today, Bank of England Inflation report and Monetary Policy summary are going to be published which are expected to inject good amount of volatility in the market that may lead to further gains on the GBP side. Additionally, GBP MPC Asset Purchase Facility Votes is expected to be unchanged at 0-0-9, and Asset Purchase Facility is also expected to be unchanged at 435B. On the other hand, today, EUR German Trade Balance is expected to decrease to 21.5B from the previous figure of 22.3B, ECB Economic Bulleting is going to be held today which is expected to have neutral impact on the upcoming gains of EUR, and German Buba President Weidmann is going to speak about the interest rate decision and upcoming monetary policies which is also expected to have a minimal impact on the market. As of the current scenario, the maximum level of concentration today is over to GBP, though having an unchanged forecast for the rates but the upcoming plans of GBP are expected to lead to a definite pressure on the market which may result in a definite trend with the breakout from the current range. Now let us look at the technical view. The price is currently residing below the 0.89 resistance area after rejecting off the trend line resistance which is expected to proceed lower towards the 0.8750 support area in the coming days. GBP is expected to take the lead in the coming days, and a break below 0.86 will lead to a further impulsive bearish pressure in the market. As the price remains below 0.89, the bearish bias is expected to continue further.
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#332 » by instaforexbuk [691 βCoins] » February 9th, 2018, 8:34 am

Elliott wave analysis of EUR/NZD for February 9, 2018

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Wave summary: Did the wave ii complete at 1.6914, or is there another stab to this low needed to complete the wave ii? At this point, it could go both ways. Only a clear break above the minor resistance at 1.7015 will confirm that the wave ii has completed, or the wave ii is developing higher to 1.7479. As long as the minor resistance at 1.7015 is able to cap the upside, we must allow a final spike to lower to 1.6914 or even just below to complete the wave ii and to set the stage for the wave iii higher.

R3: 1.7094

R2: 1.7038

R1: 1.7015

Pivot: 1.6965

S1: 1.6943

S2: 1.6914

S3: 1.6900

Trading recommendation: We are long EUR from 1.6977 with our stop placed at 1.6845.

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#333 » by instaforexbuk [691 βCoins] » February 12th, 2018, 12:24 pm

Bitcoin analysis for 12/02/2018

French and German finance ministers are still demanding strict regulation of Bitcoin and other cryptocurrencies. According to reports, the French Finance Minister Bruno Le Maire and the Interim German Finance Minister Peter Altmaier wrote a letter to fellow finance ministers of the G20, in which they argue that cryptocurrencies are not only risky for investors but also threaten the long-term global financial stability. "Given the rapid increase in the capitalization of tokens and the emergence of new financial instruments, these changes should be closely monitored (...) Such variable tokens may have detrimental consequences for uninformed investors who do not understand the risks they are exposed to." - they write. Of course, this sentiment can be easily interpreted as coming from authorities of traditional financial institutions, experiencing increasing pressure from the rapidly growing, and the increasingly popular cryptocurrency market, which aims to disrupt traditional financial structures. The Finance Minister Bruno Le Maire and the Interim German Finance Minister Peter Altmaier are not the only ones who are concerned about Bitcoin and other cryptocurrencies. The member of the Board of the European Central Bank Yves Mersch expressed his negative opinion on Thursday, stating that cryptocurrencies are not money, nor will they be in the foreseeable future. In addition, the head of the Agency for International Settlements Agustin Carstens expressed his deep-rooted concerns by asking the central banks to close Bitcoin, claiming that cryptocurrencies are becoming a threat to financial stability. Let's now take a look at the Bitcoin technical picture at the H4 time frame. The bounce from the level of $5,830 was in three waves only, so the overall strength of the market might not be not that much visible, and the current wave progression is still in favor of another corrective wave to the upside. The key technical resistance is still the zone at the level of $9.146 - $9,515.

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#334 » by instaforexbuk [691 βCoins] » February 13th, 2018, 10:25 am

Fundamental Analysis of GBP/USD for February 13, 2018

GBP/USD has recently broken the support area of 1.3850-1.3950 which has turned as a resistance area now. The market flow has been quite slow and corrective after breaking below the support and is expected to proceed lower in the coming days. GBP having unchanged after Official Bank Rates and Hawkish Bank of England statement failed to gain the momentum it needed to counter against the impulsive bearish move in the pair recently. Today, GBP CPI report is going to be published which is expected to decrease to 2.9% from the previous value of 3.0%, PPI Input is expected to increase to 0.7% from the previous value of 0.1%, RPI report is expected to show an unchanged value of 4.1%, Core CPI is expected to increase to 2.6% from the previous value of 2.5%, HPI report is expected to decrease to 4.9% from the previous value of 5.1%, and PPI Output is also expected to decrease to 0.2% from the previous value of 0.4%. The economic reports are expected to have mixed outcome which is expected to lead to further correction and volatility in the market ahead of the high influencing economic reports of USD to be published this week. On the other hand, today, USD NFIB Small Business Index report is going to be published which is expected to increase to 106.2 from the previous figure of 104.9, and FOMC Member Mester is going to speak about the monetary policies and the upcoming interest rate decision which is more likely to have an increase on March 2018. As of the current scenario, USD is expected to be the dominant currency in the pair having GBP struggling with the mixed economic reports and market sentiment not favoring the GBP gains despite having positive economic reports and events recently. Now let us look at the technical view. The price is currently residing at the edge of the 1.3850-1.3950 resistance area from where the price is expected to proceed lower towards the 1.36 support area. The price is being held by the dynamic level of 20 EMA as well which also increased the probability of the upcoming bearish pressure in the pair. As the price remains below the 1.3850-1.3950 resistance area, the bearish bias is expected to continue further.

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#335 » by instaforexbuk [691 βCoins] » February 14th, 2018, 8:58 am

Daily analysis of GBP/USD for February 14, 2018

GBP/USD continues to recover above the lows of February 9, and it's looking to test the 200 SMA at H1 chart. Around that zone, we're expecting a pullback to take place in order to test the support zone of 1.3753. That level should give up to allow more losses toward the 1.3604 level. MACD indicator remains in the neutral territory, calling for a sideways consolidation.
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H1 chart's resistance levels: 1.3939 / 1.4078

H1 chart's support levels: 1.3753 / 1.3604

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the resistance level is at 1.3753, take profit is at 1.3604, and stop loss is at 1.3903.

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#336 » by instaforexbuk [691 βCoins] » February 15th, 2018, 8:28 am

The dollar has good reasons to turn up

As a result of Wednesday, the US dollar collapsed against all major currencies. What's very strange is this happened against the background of positive data on consumer inflation in the US which showed growth in monthly terms while annual values showed a continued growth rate. According to the data presented, consumer inflation in annual terms remained at the same level of 2.1%. The forecast predicted it to fall to 1.9%. On a monthly basis, the index rose sharply by 0.5% against expectations of an increase of 0.3% and a revised upward of December's 0.2%. The figures of the basic consumer price index (CPI) were also pleasing. The annual value of the indicator remained at the previous level of 1.8%.

It was assumed that it would drop to 1.7%. Last month, the base index added 0.3% while it was expected to increase by 0.2% as in December following the revision. First, the dollar reacted to these positive figures with a noticeable increase in relation to all major currencies but then everything changed. It was actively sold against major currencies which in turn, supported prices for commodity and raw materials. Against this background, the share market in the United States has grown. And the traders clearly ignored the strong growth in yields of government bonds of the US Treasury.

The yield on the two-year notes added more than 2% on the day's results, indicating a strong increase in expectations for growth rates in March. Futures on federal funds jumped to around 83.1%, indicating that interest rates will be raised by 0.25% at the March meeting. In general, everything that happened in the US stock market that hit at the dollar rate, can be characterized as preparation for probable global sales.

This will only intensify because of the nearest meeting of the Fed. Ultimately, the increase in yields of government bonds will have an impact on the stock market and it will begin to fall. An important signal to this is a sharp increase in the yield on Wednesday of 10-year Treasuries which grew above the 2.9% mark. In the end, we continue to expect the dollar to turn up towards the Fed meeting next month.

Forecast of the day:

The EURUSD pair rose on the wave of a local weakening of the dollar. It is likely that against the backdrop of rising volatility and a prospective rate hike in the US, the pair will fall to 1.2345 if it overcomes the 1.2445 mark.

The GBPUSD pair also has a potential to decline to 1.3835 if it falls below the level of 1.3990.

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#337 » by instaforexbuk [691 βCoins] » February 16th, 2018, 11:38 am

The dollar was unlucky again

Data on producer prices unexpectedly turned out to be quite good, as their growth rates accelerated from 2.6% to 2.7%. However, the dollar did not help. Strongly disappointed with data on applications for benefits. Not only that the number of initial applications increased from 223, 000 to 230,000 , so the number of continuing applications increased from 1,927,000 to 1,942,000. But the growth rate of industrial production accelerated from 3.4% to 3.7%. But concerns about the overheating of the labor market prevailed, which did not allow the dollar to strengthen. Today there are data on retail sales in the UK, the growth rate of which should increase from 1.4% to 2.6%, which is a clear positive factor against the background of slowing inflation. At the same time, in the U.S., it is forecasted an increase in the number of construction project starts from 1,192,000 to 1,234, 000, while a reduction in the number of issued construction permits from 1,302, 000 to 1,300, 000. Given the strong oversold dollar, it is expected to strengthen against the backdrop of growth number of construction sites. The euro/dollar pair has all opportunities to decline to 1.2450.

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It is expected to reduce the pair pound / dollar to 1.4075.

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#338 » by instaforexbuk [691 βCoins] » February 19th, 2018, 7:54 am

Technical analysis of GBP/USD for February 19, 2018

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Overview:

The GBP/USD pair opened below the resistance of 1.4055. It continued to move downwards from the level of 1.4055 to the bottom around 1.4015. Today, the first resistance level is seen at 1.4055 followed by 1.4123, while the daily support 1 is seen at 1.3901. Furthermore, the moving average (100) starts signaling a downward trend; therefore, the market is indicating a bearish opportunity below 1.4055. So it will be good to sell at 1.4055 with the first target of 1.3986. It will also call for a downtrend in order to continue towards 1.3901. The strong daily support is seen at the 1.3901 level. According to the previous events, we expect the GBP/USD pair to trade between 1.4055 and 1.3901 in the coming hours. The price area of 1.4123 remains a significant resistance zone. Thus, the trend is still bearish as long as the level of 1.4123 is not broken. On the contrary, in case a reversal takes place and the GBP/USD pair breaks through the resistance level of 1.4123, then a stop loss should be placed at 1.4160.

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#339 » by instaforexbuk [691 βCoins] » February 20th, 2018, 12:08 pm

Analysis of gold for February 20, 2018

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Recently, gold has been trading downwards. The price tested the level of $1,336.00. According to the 30M time frame, I found that the price is trading in the downward channel, which is a sign that sellers are in control. I also found a broken bearish pennant in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of $1,330.00.

Resistance levels:

R1: $1,350.07

R2: $1,353.52

R3: $1,355.65

Support levels:

S1: $1,344.49

S2: $1,342.35

S3: $1,338.91

Trading recommendations for today: watch for potential selling opportunities.

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#340 » by instaforexbuk [691 βCoins] » February 21st, 2018, 11:15 am

The text of the Fed's protocol can further strengthen the dollar

The market is looking forward to the publication of the text during the minutes of the meeting of the Federal Commission for Open Market Operations, as they hope to see an answer to the question regarding the pace of the rate increase.

Against the backdrop of lacking news on the previous days, the dollar has some strengthened in anticipation of today's news. First preliminary data on business activity indices in Europe came out, which can further ruin the life of the single European currency. The index in the service sector should decrease from 58.0 to 57.6, and the production index from 59.6 to 59.3, and as a result, the composite index will decrease from 58.8 to 58.5. But the pound has a chance to improve its position to some extent. Not only that, the number of applications for unemployment benefit in the previous month of 8,600 last month may increase by 4,100 amid the stability of the unemployment rate and the rate of wage growth. Also, borrowing of the public sector should be reduced by 11.1 billion pounds.

However, the dollar's growth will increase in the second half of the day. Preliminary data on indices of business activity can show growth. In particular, the index in the service sector should grow from 53.3 to 54.0, although the production index may fall from 55.5 to 55.4. But the service sector has a heavier impact, the composite index is expected to grow from 53.8 to 54.4. Moreover, home sales in the secondary market may show an increase of 0.9%. Well, the most important event not only for the day but also for the whole week s the publication of the text of the minutes of the recent meeting of the Federal Commission for Open Market Operations. The regulator planned, as many as, three increases for the current year. If the Fed confirms its plans last year, then the dollar will have many reasons for growth.

The EUR/USD pair will decline to the level of 1.2250. If the contents of the text of the protocol disappoint investors, we should expect growth to 1.2425.It should contain answers to the question about the rate of increase in the refinancing rate in the current year. At the moment, almost everyone agrees that the Fed will raise the rate at least once. But do not forget, this was similar even last year.

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If the text of the minutes of the meeting of the Federal Commission for Operations in the open market will please investors, the GBP/USD pair will drop to the level of 1.3850. Otherwise, we expect growth to 1.4100.

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#341 » by instaforexbuk [691 βCoins] » February 22nd, 2018, 7:50 am

AUD/USD is approaching major support, prepare for a bounce

Price is approaching major support at 0.7731 (Fibonacci extension, Fibonacci retracement, horizontal overlap support), and a strong bounce from this level would push the price up towards the 0.7986 resistance (Fibonacci retracement, horizontal swing high resistance). We have to be careful about intermediate resistance at 0.7890 too.

Stochastic (34,5,3) is seeing major support at 0.4% where a corresponding bounce could occur.

Buy above 0.7731. Stop loss at 0.7633. Take profit at 0.7986.

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#342 » by instaforexbuk [691 βCoins] » February 23rd, 2018, 10:08 am

The trade review for February 23 by simplified wave analysis

Overview and Outlook for #USDX (US Dollar Index) As shown in the graph of the American currency index, the formation of an extended downward plane continued during the last three years. Since the beginning of last year, the final part of the wave model started. The structure of the entire wave does not show completeness. The strong level of support reached by the quotes triggered the formation of a corrective zone, in the form of a flat. The expected growth potential is limited by the determined resistance zone. Today, the completion of the bearish retracement that began yesterday is expected. The lower zone is the support level. A short-term gap of the lower boundary is not excluded. A reversal through the upward movement can be expected in the afternoon. Boundaries of resistance zones: -

90.50 / 60

Boundaries of support zones: -

89.70 / 60

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Review and Forecast for NZD / USD

The last wave of the daily chart of the major currency "Kiwi" dollar in September 2016 brought the pair's price into the zone of a strong resistance line. Over the next year and a half, the price formed a correction in a wide flat corridor. As of now, the correctional structure has been completely completed and its entire parts have been formed. For today, the last and incomplete ascending part have a reversal potential.

The first part of the wave (A) is complete. Since January 24, a flat correction zigzag (B) began to form. Due to the impulsive nature of the bullish wave that has started, we can expect a minimum possible reduction. During the next trading sessions, the following events are expected such as the completion of the downward rollback, the reversal formation and the beginning of the ascending phase of the pair's movement.

Boundaries of resistance zones: -

0.7250 / 80

Boundaries of support zones: -

0.7270 / 40

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Explanations to the figures: For simplified wave analysis, the simplest type of wave is used in the form of a zigzag, combining 3 parts (A; B; C). Of these waves, all kinds of correction are composed and most of the impulses. At each time frame, the last, incomplete wave is analyzed. The areas marked on the graphs are indicated by the calculation areas, where the probability of a change in the direction of motion is significantly increased. Arrows indicate the wave counting according to the technique used by the author.

The solid background of the arrows indicates the structure formed, the dotted one indicates the expected wave motion. Attention: The wave algorithm does not take into account the duration of the tool movements in time. The forecast is not a trading signal!

To conduct a trade transaction, you need to confirm the signals of your trading systems. * The presented market analysis is informative and does not constitute a guide to the transaction.

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#343 » by instaforexbuk [691 βCoins] » February 26th, 2018, 2:54 pm

Technical analysis of EUR/USD for February 26, 2018

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Overview:

The trend of the EUR/USD pair movement was controversial as it took place in a narrow sideways channel, the market showed signs of instability. Amid the previous events, the price is still moving between the levels of 1.2259 and 1.2373. Also, the daily resistance and support are seen at the levels of 1.2408 and 1.2442, respectively. Therefore, it is recommended to be cautious while placing orders in this area. So, we need to wait until the sideways channel has completed. Last week, the market moved from its bottom at 1.2260 and continued to rise towards the top of 1.2352. Today, in the one-hour chart, the current rise will remain within a framework of correction. However, if the pair fails to pass through the level of 1.2404, the market will indicate a bearish opportunity below the strong resistance level of 1.2404. Since there is nothing new in this market, it is not bullish yet. Sell deals are recommended below the level of 1.2404 with the first target at 1.2295. If the trend breaks the support level of 1.2295, the pair is likely to move downwards continuing the development of a bearish trend to the level 1.2260 in order to test the double bottom again.

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#344 » by instaforexbuk [691 βCoins] » February 27th, 2018, 9:06 am

USD/CHF is testing strong resistance, it's time to start selling

Price is testing major resistance at 0.9390 (Fibonacci extension, bearish harmonic formation, descending resistance) and a strong reaction could occur at this level to push the price down to the 0.9321 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance at 93% where a corresponding reaction could occur. Sell below 0.9390. Stop loss at 0.9415. Take profit at 0.9321.

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#345 » by instaforexbuk [691 βCoins] » February 28th, 2018, 8:40 am

Technical analysis of GBP/JPY for February 28, 2018

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GBP/JPY is under pressure. The pair is clearly turning down, and is also under pressure below its horizontal level at 149.60. A bearish cross has been identified between the 20-period and 50-period moving averages, which should confirm a negative outlook. In which case, as long as the resistance at 149.60 is not surpassed, the risk of the break below 148.50 remains high. Alternatively, if the price moves in the direction opposite to the forecast, a long position is recommended to be above 149.60 with the target at 150.00.

Strategy: SELL, Stop loss at 149.60, Take profit at 148.50

Chart Explanation: The black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot point, it indicates short positions. The red lines show the support levels, and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 150.00, 150.50, and 151.00

Support levels: 148.50, 147.95, and 147.50

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#346 » by instaforexbuk [691 βCoins] » March 5th, 2018, 8:38 am

Daily analysis of EUR/JPY for March 5, 2018

EUR/JPY

This cross pair is a weak market. It is interesting to see the market is engaged in a long, protracted bearish movement. Since the beginning of February, at least, 700 pups have been shed. In the past few weeks, short-term rallies have been invariably followed by further southwards movements.

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There is currently a Bearish Confirmation Pattern in the market. The price would continue moving downwards towards the demand zones at 130.00, 129.50 and 129.00. Nonetheless, a strong rally is in the offing, as the outlook on EUR pairs is bullish for this week.

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#347 » by instaforexbuk [691 βCoins] » March 6th, 2018, 8:45 am

Fundamental Analysis of USD/JPY for March 6, 2018

USD/JPY has been quite impulsive with the bullish gains recently after bouncing off the important support area of 105.50. JPY has been quite positive with the recent economic reports like significant decrease in Unemployment Rate from 2.8% to 2.4%, which made the currency to gain significant momentum along the way against USD. Ahead of the upcoming high impact economic reports on the USD side this week and probable Interest Rate Hike this month, USD is currently recovering quite well from the impulsive JPY strike. Today, USD Factory Orders report is going to be published which is expected to decrease to -0.4% from the previous positive value of 1.7%, and IBD/TIPP Economic Optimism report is expected to increase to 58.2 from the previous figure of 56.7. Ahead of the upcoming Non-Farm Employment Change, Average Hourly Earnings, and Unemployment Rate report, USD is expected to gain certain momentum which may lead to further bullish pressure in the pair. Today, we do not have any JPY economic report to impact the market but on Thursday, JPY Bank Lending report is going to be published which is expected to be unchanged at 2.4%, Current Account is expected to increase to 1.76T from the previous figure of 1.48T, Final GDP Price Index is expected to be unchanged at 0.0%, and Final GDP is expected to increase to 0.2% from the previous value of 0.1%. As of the current scenario, this week the market is expected to be quite volatile whereas a number of high impact economic reports on the both sides are expected to inject uncertainty for the time being. To sum up, ahead of the upcoming economic reports, USD is expected to gain and sustain the bullish momentum in the pair if the economic reports are published better than expected by Friday daily close. Now let us look at the technical view. The price has been quite impulsive with the gains yesterday having bouncing off the 105.50 price area. The bearish trend has been quite non-volatile whereas certain retracement towards the 20 EMA and 107.30-50 area is expected before the price continues its bearish pressure in the coming days. As the price remains below the 108.50 price area, the bearish bias is expected to continue further.

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#348 » by instaforexbuk [691 βCoins] » March 7th, 2018, 9:07 am

Fundamental Analysis of USD/CAD for March 7, 2018

USDCAD has been extremely volatile and indecisive recently after breaking above 1.29 price area with a daily close. The price is still struggling to make a definite trend move in this pair which is currently expected to proceed higher in the coming days. The economic calendar contains a series of high impact economic reports from the US such as Non-Farm Employment Change, Unemployment Rate, and Average Hourly Earnings which are expected to show optimistic readings. Today ADP Non-Farm Employment Change report is going to be published which is expected to decrease to 199k from the previous figure of 234k, FOMC Members Bostic and Dudley are going to speak today about the nearest interest rate hike this month along with future monetary policies, investors expect to detect the hawkish stance in their comments. Market participants are currently quite biased with the US reports ahead of the upcoming Rate Hike this month. On the CAD side, there are high impact economic reports too. Today, Canada's Overnight Rate decision is going to be published which is expected to be unchanged at 1.25% along with BOC Rate Statement expected to be quite neutral today. Moreover, this week on Friday, Canada's Employment Change report is going to be published which is expected to show a significant increase to 21.8k from the previous negative figure of -88.0k and Unemployment Rate is expected to be unchanged at 5.9%. To sum up, this week the USD/CAD pair is likely to be highly volatile and indecisive until the weekly close on Friday but USD is expected to have an upper hand over CAD in the hsort term in light of the upcoming economic reports and events on the USD side this month. Now let us look at the technical view. The price is currently residing above 1.29 price area, affected by impulsive bearish pressure yesterday that leding to a daily close below it. The market is currently quite indecisive ahead of the upcoming high impact economic reports and events from the US and Canada. As for the current scenario, the price is expected to trade with a bullish biased as it remains above 1.29 with a daily close which is more probable until price breaks below the 1.29 price area with a daily close.

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#349 » by instaforexbuk [691 βCoins] » March 8th, 2018, 7:09 am

Gold was trapped

The news about the resignation of the chief economic adviser to the president Gary Cohn allowed gold to mark its best daily level since Valentine's Day. If an ardent opponent of protectionism, an ex-candidate for the presidency of the Fed, withdraws from his post, a potential global trade war is unlikely to be avoided. And in it, all weapons will look good. Including - large-scale selling of US Treasury bonds by the main holders in the face of China and Japan. I believe other countries will do the same. Their desire to get rid of the power of the dollar will force them to shift to gold. Thus, trade wars are potentially capable of providing the precious metal with invaluable support. Until March, investors' demand for ETF products was characterized by mixed dynamics. The fall in the XAU/USD and the increase in gold volatility contributed to an outflow of 5.1 tonnes in February. The biggest losses were suffered by European (-7.3 tons) and North American stock-exchange specialized funds (-5.1 tons), while Asians, on the contrary, replenished their reserves (+7.9 tons). As a result, according to the latest figure, it has increased by 10% since the beginning of the year.

Monthly dynamics of demand for ETF products

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Source: WGC. Annual dynamics of demand for ETF products

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Source: WGC.

In my opinion, the value of the investment demand for precious metals was influenced by the strengthening of the US dollar. The fastest growth in the weekly wage in January over the past few years has strengthened the risks of overclocking inflation and the aggressive monetary tightening of the Fed. Moreover, the new head of the Federal Reserve was optimistic about the US economy and the way of betting on federal funds. The President of the Federal Reserve Bank of New York, William Dudley, indicated four hikes in 2018 - a gradual normalization of monetary policy. As a result, the futures market increased the chances of such an outcome to 34%, and gold plunged into a wave of selling. Everyone remembers perfectly how uncomfortable it felt at the eve of the historic FOMC meetings in 2017.

Nevertheless, the growing likelihood of the implementation of the policy of anti-globalization, Donald Trump, significantly tempered investors' appetite for risk. If the stock indexes behaved rather restrained in response to the high-sounding statements of the US president on tariffs on the import of steel and aluminum, the resignation of Gary Cohn convinced that the matter should be taken very seriously. In the medium term, gold can be trapped in consolidation: on the one hand, news about the trade war will provide support to the bulls on the XAU/USD; on the other hand, the return of the divergence idea in the monetary policy of the Federal Reserve and the central banks-peers can become a saving straw for the US dollar. In my opinion, in the second and third quarters, against the background of the return of the normalization theme, its strength will run out, so the price will drop to the lower border of the trading range of $1300-1360 per ounce, which makes sense to use for purchases.

Technically, if the bulls manage to return gold quotes to the limits of the upward medium-term trading channel, then the risks of implementing the target values by 113% and by 127.2% according to the Shark and AB = CD patterns will increase.

Gold, daily chart

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#350 » by instaforexbuk [691 βCoins] » March 9th, 2018, 7:54 am

Daily analysis of USD/JPY for March 9, 2018

USD/JPY

There is a growing challenge to the recent bearish bias on the market. Since the demand level at 105.50 was tested, the market has gained 130 pips. Price is now above the demand level at 106.50, going towards the supply level at 107.00. There is a possibility of a change in the market bias when price goes further northwards.

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The long-term bias is bearish. The EMA 11 is below the EMA 56, and the RSI period 14 is slightly below the level 50. There is currently a Bearish Confirmation Pattern on the 4-hour chart, but that will be overturned once the supply level at 107.50 is breached to the upside.

Read more: https://www.instaforex.com/forex_analysis/111542

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#351 » by instaforexbuk [691 βCoins] » March 12th, 2018, 8:12 am

USD/JPY has reached our profit target perfectly, prepare for further rise

The price has risen perfectly to our profit target and looks poised to rise further after breaking a strong descending resistance-turned-support line. We look to buy above 106.48 (Fibonacci retracement, horizontal overlap support, breakout level) for a push up to 108.51 (Fibonacci retracement, horizontal pullback resistance). We do have to be cautious about 107.78 resistance as the price might react off that level. RSI (89) has made a similar bullish exit signaling a change in momentum from bearish to bullish. Buy above 106.48. Stop loss at 105.81. Take profit at 108.51.

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#352 » by Giffty [10 βCoins] » March 16th, 2018, 4:15 pm

Hello I just opened an account with you guys but I don't know how to trade how can I start


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#353 » by instaforexbuk [691 βCoins] » March 16th, 2018, 4:45 pm

Giffty wrote:Hello I just opened an account with you guys but I don't know how to trade how can I start


Hello, you are welcome to Instaforex, we are glad to have you as one of our clients.

In order to get started trading on Forex with InstaForex Company you can follow the link http://instaforex.com/getting_started.php. In the section Training Video you will find the educational materials devoted to the peculiarities of working with InstaForex broker, to theory of trading, technical indicators; Forex Trading FAQ page comprises the questions asked most often; Open Demo Account informs in details how to open a demo account; the page Forex Glossary contains the most often used trading notions with the explanations. You can also familiarize yourself with the information on the educational website http://instafxeducation.com/en/ and take part in online webinars http://instaforex.com/forex_webinars.php.

[b]Best Regards,
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InstaForex Companies Group

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#354 » by Giffty [10 βCoins] » March 16th, 2018, 5:03 pm

instaforexbuk wrote:
Giffty wrote:Hello I just opened an account with you guys but I don't know how to trade how can I start


Hello, you are welcome to Instaforex, we are glad to have you as one of our clients.

In order to get started trading on Forex with InstaForex Company you can follow the link http://instaforex.com/getting_started.php. In the section Training Video you will find the educational materials devoted to the peculiarities of working with InstaForex broker, to theory of trading, technical indicators; Forex Trading FAQ page comprises the questions asked most often; Open Demo Account informs in details how to open a demo account; the page Forex Glossary contains the most often used trading notions with the explanations. You can also familiarize yourself with the information on the educational website http://instafxeducation.com/en/ and take part in online webinars http://instaforex.com/forex_webinars.php.


Okay. Thanks


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#355 » by instaforexbuk [691 βCoins] » March 19th, 2018, 12:27 pm

Fundamental analysis of EUR/USD for March 19, 2018

EUR/USD has been quite impulsive with the bearish pressure breaking below 1.2350 with a daily close. Ahead of the upcoming Fed rate decision which can result in a hike from 1.50% to 1.75%, the impulsive gain on the USD side is quite impressive and explains the current sentiment on the market. EUR has been quite neutral with the economic reports having no strong element to support its gain ahead of the rate hike this week. Today, the Italian Industrial Production report is going to be published which is expected to decrease to -0.5% from the previous value of 1.6%. Besides, the Italian Trade Balance report is expected to decrease to 4.87B from the previous figure of 5.25B and the trade balance report is expected to show a decrease to 22.6B from the previous figure of 23.8B. Moreover, today G20 Meeting is going to be held which is expected to inject good amount of volatility in the market for the whole day. The German Buba Monthly Report is also going to be published which is expected to be quite neutral in nature and will unlikely provide support to EUR. On the other hand, today USD FOMC Member Bostic is going to speak about Interest Rates and Monetary Policies which is expected to help USD gain some momentum ahead of the possible rate hike on Wednesday. As of the current scenario, USD is expected to gain momentum against EUR in the coming days whereas EUR may struggle to keep its grounds leading to impulsive bearish pressure in the pair. Now let us look at the technical view. The price is currently residing below 1.2350 with a daily close and having dynamic level of 20 EMA working as a resistance as well. Ahead of the upcoming rate hike, USD is expected to gain further momentum towards 1.2080 and later towards 1.1720 support area in the coming days. As the price remains below 1.2350 with a daily close, further bearish pressure is expected in this pair.

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Read more: https://www.instaforex.com/forex_analysis/111761

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#356 » by instaforexbuk [691 βCoins] » March 20th, 2018, 12:20 pm

Fundamental Analysis of GBP/USD for March 20, 2018

GBP/USD has been quite impulsive with the bullish gains recently. The pair is currently expected to push lower as the price remains below 1.41 price area with a daily close. Ahead of the upcoming rate hike in the US this week, the market is quite volatile and indecisive as well. Today, the UK CPI report is going to be published which is expected to decrease to 2.8% from the previous value of 3.0%, PPI Input report is expected to decrease to -0.9% from the previous value of 0.7%, Core CPI report is expected to decrease to 2.5% from the previous value of 2.7%, HPI report is expected to have a slight decrease to 5.1% from the previous value of 5.2%, PPI Output is expected to be unchanged at 0.1%, and RPI report is also expected to decrease to 3.7% from the previous value of 4.0%. On the other hand, the US is not going to release any economic report and no market-moving events are to take place. Tomorrow, the US Current Account report is going to be published which is expected to show a greater deficit of -125B from the previous figure of -101B, Existing Home Sales report is expected to increase to 5.41M from the previous figure of 5.38M, and Crude Oil Inventories is also expected to rise from the previous figure of 5.0M. As for the current scenario, USD is currently expected to have an upper hand over GBP in the coming days. Most of the economic reports forecast from the UK are likely to be downbeat. If the expectations are met today for the UK reports, then further bearish pressure is expected in this pair for the coming days. Now let us look at the technical view. The price is currently quite impulsive with the bearish pressure after bouncing off the 1.4060 price area, though certain correction and indecision is expected to be in the market as well. The market is quite volatile as well for which certain impulsive counter momentum can be also observed along the way. As the price remains below 1.41 price area, the bearish bias is expected to continue further.

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Read more: https://www.instaforex.com/forex_analysis/111773

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#357 » by instaforexbuk [691 βCoins] » March 21st, 2018, 2:56 pm

GBP/USD analysis for March 21, 2018

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Recently, the GBP/USD pair has been trading sideways at the price of 1.4070. Anyway, accorrding to the 1H time frame, I found that price did a successful re-test of the support in the background, which is a sign that buyers are in control. I also found a rejection of Fibonacci retracement 50% at the price of 1.3995, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.4175.

Resistance levels:

R1: 1.4050

R2: 1.4100

R3: 1.4135

Support levels:

S1: 1.3965

S2: 1.3932

S3: 1.3880

Trading recommendations for today: watch for potential buying opportunities.

Read more: https://www.instaforex.com/forex_analysis/111803

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#358 » by instaforexbuk [691 βCoins] » March 22nd, 2018, 8:30 am

GBP/CHF Is Testing Major Resistance, Time To Sell


Price is testing major resistance at 1.3434 (Fibonacci extension, bearish harmonic formation) and a strong drop could occur from here to push the prices all the way down to 1.3145 (Fibonacci retracement, horizontal pullback support). We have our stop loss at 1.3522 (Fibonacci extension, above major swing high resistance) to give our trade some breathing space. Stochastic (89,5,3) is seeing major resistance below 96% and a corresponding reaction could occur at this level. Sell below 1.3434. Stop loss at 1.3522. Take profit at 1.3145.

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Read more: https://www.instaforex.com/forex_analysis/111831

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#359 » by instaforexbuk [691 βCoins] » March 23rd, 2018, 9:17 am

BITCOIN Analysis for March 23, 2018

Bitcoin is currently residing below $8,500 price area, though a daily close was not observed yesterday. Some speculation is going on about the global trading war which is assumed to lead to certain bearish pressure in Bitcoin and other markets in the world. Bitcoin was expected to hold steadily above $8,500 price area but the impulsive bearish pressure made the market more indecisive and uncertain along the way. As for the current scenario, a daily close below $8,500 will lead to further bearish pressure in the pair with a downward target towards $5,000 price area. The bearish momentum had confluence off the dynamic level of 20 EMA which undermined the bullish market sentiment. As the price remains below $8,500, further bearish pressure is expected to continue in BTC.

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Read more: https://www.instaforex.com/forex_analysis/111915

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#360 » by instaforexbuk [691 βCoins] » March 26th, 2018, 7:31 am

Daily analysis of EUR/JPY for March 26, 2018

EUR/JPY

The conditions in the market is quite choppy. Although the market is choppy, the bearish trend has been maintained.Price has been going southward since February 5, having lost almost 800 pips since then. Last week, there was a rally attempt in the context of an uptrend, which was halted once the supply zone at 131.50 had been tested.

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Further upward movement was effectively prevented. The market shed 250 pips following that, to test the demand zone at 129.00, and closed below the supply zone at 129.50. The expected weakness in EUR, as well as the bearish outlook on the market, may enable the demand zones at 129.00, 128.50, and 128.00 to be tested this week.

Read more: https://www.instaforex.com/forex_analysis/111959

[b]Best Regards,
PR Manager
InstaForex Companies Group

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