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Intraday Level For EUR/USD, Feb 08, 2019
https://forex-images.ifxdb.com/userf...d0b8a80348.jpg
When the European market opens, some economic data will be released such as Italian Industrial Production m/m, French Prelim Private Payrolls q/q, French Prelim Private Payrolls q/q, and French Industrial Production m/m. The US will not publish any economic data today, so amid such conditions, the EUR/USD pair will move with a low to a medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1396.
Strong Resistance: 1.1389.
Original Resistance: 1.1378.
Inner Sell Area: 1.1367.
Target Inner Area: 1.1340.
Inner Buy Area: 1.1313.
Original Support: 1.1302.
Strong Support: 1.1291.
Breakout SELL Level: 1.1284.
(Disclaimer) *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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Forecast for USD/JPY on February 11, 2019
The yen continues to build up strength before breaking out on the resistance of the Krusenstern line daily scale. The price is held by the balance line on the chart of the smaller period-H4. The Marlin line seeks to go out into the growth zone. On the daily chart, the line of this oscillator unfolds in the continuation of growth. The price exit over 110.04 - resistance of the Krusenstern line, will make it possible for the price to attack the Krusenstern line of the higher chart and rise to 110.36 - the resistance of the trend line of the price channel on the daily. Exit above this line opens the way to the resistance of the next line at 111.24.
https://lh4.googleusercontent.com/uc...Za4XZQOPDl0ebG
https://lh5.googleusercontent.com/MP...3mpN4fGuhk45eo
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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Technical analysis: Intraday Level For EUR/USD, Feb 12, 2019
https://forex-images.ifxdb.com/userf...238682619e.jpg
When the European market opens, no economic data will be released. The US will publish the economic data such as JOLTS Job Openings and NFIB Small Business Index, so amid the reports, the EUR/USD pair will move with a low to a medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1331.
Strong Resistance: 1.1325.
Original Resistance: 1.1314.
Inner Sell Area: 1.1303.
Target Inner Area: 1.1277.
Inner Buy Area: 1.1251.
Original Support: 1.1240.
Strong Support: 1.1229.
Breakout SELL Level: 1.1223.
Analysis are provided byInstaForex.
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EUR/AUD Approaching Support, Prepare For Bounce
https://forex-images.ifxdb.com/userf...3850e5840c.png
EUR/AUD is approaching its support at 1.5888 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 1.5972 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is nearing its support at 2.4% where a corresponding bounce could occur.
EUR/AUD is approaching its support where we expect to see a bounce.
Buy above 1.5888. Stop loss at 1.5845. Take profit at 1.5972.
Analysis are provided byInstaForex.
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EURUSD: US inflation unchanged. Eurozone continues to slide into recession
The euro fell slightly after data showed that industrial production in the euro zone declined more than expected in December. However, buyers immediately activated in the area of important support levels and did not allow a larger downward movement to be formed.
According to the report, industrial production in the eurozone in December 2018 declined immediately by 0.9% compared with November, while the interviewed economists expected a reduction of 0.3% only. Such weak indicators once again confirm the fact of more than a serious slowdown in the economy at the past and at the beginning of this year.
In the afternoon, there was data on inflation in the United States. Despite the weak report, the US dollar regained some of the positions that was lost yesterday which was paired with the euro.
According to a report by the US Department of Commerce, consumer prices in the United States in January 2019 remained unchanged in comparison with the previous month, while economists had expected an increase of 0.1%. The base consumer price index, which does not take into account volatile categories, including energy, rose by 0.2% compared with December. Economists had expected the base index to rise by 0.2% in January as well. As compared with the same period of the previous year, prices rose by 1.6% in January, yet it is not enough for the Federal Reserve's target level. Base prices, on the other hand, rose by 2.2% compared with January 2018.
https://lh6.googleusercontent.com/ew...ldTmi7OZTiPADk
The British pound fell immediately after data released indicating that the rate of consumer price inflation in the UK slowed down and was beneath the target level set by the Bank of England.
The main reason for such a sharp decrease was the fall in energy prices at the end of last year.
According to the data, the consumer price index CPI UK in January 2019 increased by 1.8% compared with January 2017 and an increase of 2.1% back in December. The basic level of the Bank of England is around 2%.
The base index, which excludes volatile categories, but includes food, tobacco products, and energy, rose 1.9% in January, as well as in December.
Bear in mind that quite recently, the Bank of England announced that they were not refusing further increases in interest rates. However, given these indicators, it is unlikely that anyone will hurry to tighten monetary policy unnecessarily in the future, which may weaken the position of the British pound, and which will be eliminated under pressure due to the uncertain Brexit scenario and slowdown in the British economy.
As for the technical picture of the GBP / USD pair, yesterday's upward correction, which was observed in the second half of the day, may continue today. However, this requires breaking through the important resistance levels of 1.2920 and 1.2980.
Analysis are provided byInstaForex.
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Technical analysis: Intraday Level For EUR/USD, Feb 15, 2019
When the European market opens, some Economic Data will
https://forex-images.ifxdb.com/userf...623c6e4df1.jpg
When the European market opens, some economic data will be released such as Trade Balance and Italian Trade Balance. The US will also publish the economic data such as TIC Long-Term Purchases, Prelim UoM Inflation Expectations, Prelim UoM Consumer Sentiment, Industrial Production m/m, Capacity Utilization Rate, Import Prices m/m, and Empire State Manufacturing Index, so amid the reports, the EUR/USD pair will move with a low to a medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1346.
Strong Resistance: 1.1340.
Original Resistance: 1.1329.
Inner Sell Area: 1.1318.
Target Inner Area: 1.1292.
Inner Buy Area: 1.1266.
Original Support: 1.1255.
Strong Support: 1.1244.
Breakout SELL Level: 1.1238.
Analysis are provided byInstaForex.
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Technical analysis: Intraday Level For EUR/USD, Feb 18, 2019
https://forex-images.ifxdb.com/userf...a089e6c7ff.jpg
Today, when the European and the US markets open, no economic data will be released. So amid this condition, the EUR/USD pair will probably move with a low volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1346.
Strong Resistance: 1.1340.
Original Resistance: 1.1329.
Inner Sell Area: 1.1318.
Target Inner Area: 1.1292.
Inner Buy Area: 1.1266.
Original Support: 1.1255.
Strong Support: 1.1244.
Breakout SELL Level: 1.1238.
Analysis are provided byInstaForex.
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Brent: appetite grows while eating
Growth of the global risk appetite against the background of the de-escalation of the US-Chinese trade conflict has made it possible for oil to climb to the area of three-month highs. Black gold is growing along with global stock indexes in the hope that the end of the trade war will increase global demand. Although OPEC has reduced its growth forecast for this indicator to 1.24 million b/d for 2019, investors believe that the recovery of the economies of the eurozone and China will provide an opportunity for it to expand faster. If we add to this the effectiveness of operations to reduce the cartel's production as well as other producing countries by 1.2 million b/d, it becomes clear why Riyadh allows itself to make loud statements that the allies managed to bring the market to a normal state.
Leaders bear the greatest burden. Saudi Arabia plans to reduce production to 9.8 million b/d in March, which is 500 thousand b/d more than the country's commitments. Its exports have already declined by 1.3 million b/d in the first half of February. With OPEC's fall in production to 30.81 million b/d in January, the strengthening factor of global risk appetite made it possible for Brent and WTI to play a fifth of their value since the beginning of the year.
Dynamics of oil and OPEC production
https://lh3.googleusercontent.com/0A...hLCOUecrqSSKJy
Finally, financial managers who previously preferred to take a wait-and-see position actually waited. By the end of the week, by February 12, they had increased their longs in the North Sea variety by 10%, which is the fastest growth rate since August. Shorts reduced by 5.5%. Thus, speculators have become net buyers of Brent at 32 million barrels in equivalent.
The weakness of the US dollar played a significant role in the rise of oil to three-month highs. Fans of the USD index have been helped for a long time by the desire of central bank competitors of the Fed to adhere to ultra-soft monetary policy, but the progress in Washington and Beijing talks reduced the demand for safe-haven assets, causing a serious blow to the US currency. At the same time, HSBC Holdings warns that if something goes wrong in further negotiations between Washington and Beijing, then black gold will plunge into a wave of sales.
Indeed, the rise in prices allows American manufacturers to feel at ease. The number of rigs from Baker Hughes rose to 857 in the week to February 15, and the US Energy Information Administration predicts that production in 2020 will reach a record figure of 13 million b/d. Companies registered in the United States are used to hedge risks and the growth of Brent and WTI allows them to increase production even at unprofitable price levels. Sooner or later this circumstance will be felt, however, during at time when the market is in a state of euphoria because of the expectations of the end of the trade war.
Technically, the breakthrough of resistance at $64.1 per barrel brought the bulls on Brent to an operational space. They were able to develop a correction as part of the transformation of the Shark pattern to 5-0 and are ready to push futures quotes to the level of 50% of the CD wave. It corresponds to $68.4. Brent daily chart
https://lh5.googleusercontent.com/Ao...zWceIbgDFEMWLC
Analysis are provided byInstaForex.
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EUR/USD. What will the minutes of the Fed reveal?
The minutes of the January Federal Reserve meeting will be published tonight - the so-called "minutes". The results of the regulator's first meeting this year were disappointing for the US dollar. The Fed finally confirmed its policy of slowing down the tightening of monetary policy. In the text of the accompanying statement, as well as during the speech of the Fed chairman, the word "patience" was often mentioned, therefore the market does not expect any "hawkish" notes from the minutes.
A certain intrigue of today's release remains. The market will first of all evaluate - how monolithic the decision to slow down the rate of rate increase looks. If the number of "doves" will significantly exceed the "hawkish" wing, then the dollar will again be under additional pressure. Yesterday's comments by Loretta Mester (which, by the way, has no voting rights this year) have weakened the greenback throughout the market. This suggests that dollar bulls are still sensitive to the soft statements of members of the Federal Reserve, even though the other central banks of the leading countries of the world have also taken a "defense position". The monetary policy outlook of the Fed is gradually coming to the forefront against the background of the expected breakthrough in the US-China trade negotiations. If Beijing and Washington find a common denominator this week and make a deal before March 1 (or announce it by extending the deadline for additional approvals), the dollar will lose a significant trump card for its growth.
https://lh5.googleusercontent.com/T6...ubVNNr9vTO0p3u
Under these circumstances, the Fed may either increase pressure on the greenback, or become a "saving straw", especially against the background of softening the rhetoric of the ECB and other central banks. It is worth noting that the Fed's report, which will be published today, might provide unexpected support for the US currency. The fact is that the market expects too soft rhetoric from the members of the regulator. If the minutes demonstrates some disagreement within the Committee, the market reaction may disappoint EUR/USD bulls. In my opinion, the dollar can collapse throughout the market only if the regulator hints at a possible pause until the end of this year. And although this option is unlikely, it cannot be ruled out, given the recent speeches of Fed members.
This is not just about Loretta Mester, who was mentioned above. Today, her position was repeated by one of the most influential members of the regulator - the head of the Federal Reserve Bank of New York, John Williams. Moreover, he stated that he did not see the need to raise the rates - only if circumstances of a "shocking" nature emerge. In his opinion, the rate has already reached its neutral level - at least the lower limit of this range.
This rhetoric is very consonant with the position of Fed Chairman Jerome Powell, who at the end of last year designated the neutral level range of 2.5% -3.5%, while declaring that the monetary tightening cycle was gradually coming to an end. This year, the US regulator can more clearly articulate its idea: the rate has reached a neutral level, then the Fed will act according to circumstances, responding to incoming data. Although these findings have long been floating in the air, their "fixation" will provoke strong volatility in the market, and this volatility will not be in favor of the dollar. By the way, Williams in today's speech added that the Fed will continue to reduce the volume of the bond portfolio on the balance sheet - according to his estimates, the reduction process may end when the balance drops to one trillion dollars.
In general, the dynamics of today's trading confirms the fears of investors: the euro/dollar pair froze in a flat, especially against the background of a half-empty economic calendar. Here it is worth recalling that, in addition to the publication of the Fed minutes, the results of the meeting between the British prime minister and the head of the European Commission will be announced. If, despite all the circumstances, they will be able to move the situation from a dead point, the single currency will receive a strong enough support, which will undoubtedly affect the dynamics of the EUR/USD pair.
Thus, the events of today's evening can either lead the pair to the borders of the 14th figure (with an attempt to test), or return to the area of the 12th figure). Fundamental factors are too unpredictable, so it is almost impossible to talk about the probability of the implementation of a particular scenario.
https://lh4.googleusercontent.com/nl...q4l41WYWuY6g0e
From a technical point of view, it is important for EUR/USD bulls to stay above 1,1305 (Tenkan-sen line) in order for it to not lose the potential for growth and approach the next resistance level of 1,1390 (the lower limit of the Kumo cloud on the daily chart). Bears of the pair, in turn, need to consolidate below 1.1270 – in this case, the Ichimoku indicator will form a bearish "Parade of lines" signal, and the price itself will be between the middle and lower lines of the Bollinger Bands indicator on the same timeframe.
Analysis are provided byInstaForex.
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EUR/USD: Weak data on the eurozone will not allow the euro to continue its growth. The minutes of the ECB
Data on Germany continue to upset investors, creating some pressure on risky assets, including the euro, which also fell against the US dollar in the first half of the day after the release of weak reports on the eurozone economy.
According to the data, the final consumer price index CPI of Germany in January this year fell by 0.8% compared to December 2018. Compared to January 2018, the index grew by 1.4%. However, the euro fell only slightly against the US dollar at the beginning of the European session, as the data completely coincided with the forecasts of economists.
A more significant pressure on the EURUSD pair was exerted by the report, which indicated that the preliminary index of PMI supply managers for the German manufacturing sector in February remained below 50 points, indicating a decrease in activity, and amounted to 47.6 points, while it was projected at 49.9 points. Back in January, the above index was 49.7 points.
This has had a significant impact on the overall performance of the eurozone manufacturing sector. According to the results of surveys of supply managers, the production index of the eurozone fell below 50 points and amounted to 49.2 points in February, indicating a decline in activity.
Only good preliminary indicators in the service sector, both in Germany and in the eurozone as a whole, have managed to smooth the pressure on the euro.
According to the report, the preliminary index of PMI supply managers for the German service sector in February was 55.1 points against 49.7 points in January. Economists had forecast PMI services Germany at the level of 52.9 points.
In the eurozone as a whole, according to IHS Markit, the composite index of supply managers, which consists of an indicator of activity in the manufacturing sector and the service sector, rose to 51.4 points in February from 51.0 points in January.
https://lh4.googleusercontent.com/Z0...Q-q1aeoIGFw9U3
Today, the minutes were published from the January meeting of the European Central Bank, which confirmed the concerns of traders that the regulator may start the LTRO program, which will be aimed at long-term refinancing of the banking system.
The minutes indicate that the leaders of the ECB at the January meeting discussed new long-term loans for banks, but more accurately everything will be known at the March meeting, when the ECB will revise economic forecasts. The European regulator is confident that potential new lending operations should reflect the objectives of monetary policy in general.
There were also concerns related to negative factors for the economy, which are only temporary in nature. Special attention was paid to the risks in connection with the exacerbated situation around Brexit.
Analysis are provided byInstaForex.
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Trump gave up the slack
https://lh6.googleusercontent.com/_B...YNQNch9ZxwH9Hn
It seems that Donald Trump will not be able to achieve the desired in negotiations with the Chinese on trade. As usual, last weekend, he reported on his Twitter account that the negotiations were "productive" and he decided to extend the truce after March 1.
In contrast to the American president, the Chinese side does not so vividly reflect the course of the negotiation process, I can even say it generally shows an enviable restraint of the "heavenly". The absence of any complete information from this side clearly indicates that there is no "productivity" in the negotiation process. Most likely, Trump has to back down and announce the continuation of the truce for this very reason, and he has more than enough reason for this.
Last year, the active actions of the American president led to a "failure" in trade between the United States and China, and not only with the latter. The desire to solve all the problems by stifling pressure on competitors in world trade led to a slowdown in the growth of the economy of the PRC, a large Europe and the USA, which led to a general slowdown in the growth of the global economy.
Trump, has not managed to solve the trade problem with China as a whole, and the desire to go to the second presidential term will force him to be more accommodating. Therefore, he will have to soften his position on this sensitive issue.
Taking this into account, one can expect that optimism with a new force will overwhelm the world markets, which will lead to the continuation of local growth in stock markets, while the US dollar will remain under noticeable pressure. The overall demand for risky assets, as well as the expectation that the Fed will not raise interest rates in the current year and even go to stop reducing the balance, will adversely affect the rate of the US currency. In many ways, the positive theme has already been played on the foreign exchange market. That is why in this situation, we also do not expect a noticeable strong growth in the currencies of competitors, since a truce does not solve all problems, but only pushes them away in time and it's hard to say what all this will result in.
Forecast of the day:
The EURUSD pair is in a very narrow range of 1.1220-1.1370 in anticipation of resolving the situation around Brexit. It is likely that it will continue until tomorrow's speeches by Theresa May and Jerome Powell. It seems that there is not enough local weakening of the dollar exchange rate for the further growth of the pair. Stronger drivers are needed, which May and Powell can provide.
The GBPUSD pair is trading in the range of 1.1260-1.1300, also in anticipation of Theresa May and Jerome Powell speeches.We believe that this range may continue until Tuesday.
Analysis are provided byInstaForex.
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Trading plan for EUR/USD for February 27, 2019
https://forex-images.ifxdb.com/userf...612e992967.jpg
Technical outlook:
The 4H chart presented for EUR/USD indicates that the single currency pair is approaching resistance soon at the 1.1425 levels as depicted here. We can expect another push higher towards the above, before reversing lower again. With the current wave structure, it seems likely that an impulse is in the making from the 1.1233 lows as highlighted on the above chart. Bulls are expected to push through the 1.142030 zone, probably today, in the next 7-8 hours before bears take control back over a corrective drop towards the 1.1310/20 levels. If the prices move according to the above wave structure, EUR/USD should be poised to hit higher highs in the coming several weeks with the potential price targets such as 1.1500, 1.1650, and 1.1800/20. As an alternative, a drop below 1.1233 and subsequently below the 1.1215 levels could see further bearishness into the 1.1180/90 region before the rally resumes.
Trading plan:
1. Aggressive: Long now @ 1.1378 stop at 1.1350 target @ 1.1425
2. Aggressive: Short @ 1.1425, stop 1.1450/60, target @ 1.1310
3. Conservative: Long on dips towards @ 1.1310/20
Good luck!
Analysis are provided byInstaForex.
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Technical analysis: Intraday Level For EUR/USD, Feb 28, 2019
https://forex-images.ifxdb.com/userf...73b7f474dc.jpg
When the European market opens, some Economic Data will be releasedsuch as Italian Prelim CPI m/m, Spanish Flash CPI y/y, French PrelimGDP q/q, French Prelim CPI m/m, French Consumer Spending m/m, GermanPrelim CPI m/m, German Import Prices m/m. The US will release theEconomic Data too such as Natural Gas Storage, Chicago PMI,Unemployment Claims, Advance GDP Price Index q/q, Advance GDP q/q, soamid the reports,EUR/USD will move in a low to medium volatilityduring this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1432.
Strong Resistance:1.1425.
Original Resistance: 1.1414.
Inner Sell Area: 1.1403.
Target Inner Area: 1.1376.
Inner Buy Area: 1.1349.
Original Support: 1.1338.
Strong Support: 1.1327.
Breakout SELL Level: 1.1320.
Analysis are provided byInstaForex.
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Gold got rid of the ballast
Rebounding from support near two-week lows, gold quickly recovered and rushed to attack. The external background for the precious metal remains favorable, and the short-term correction is due to a partial profit-taking after a long rally and the statement of US trade representative Robert Lighthizer that there are still many issues in relations with China and the deal has not yet been concluded. Let me remind you that the conflict between the two largest economies in the world faithfully served the US dollar in 2018.
Despite the fact that gold is considered a safe haven asset and a hedge against inflation, it is growing amid the recovery of US stock indices and the slowdown in consumer prices in the United States. In fact, one of the main drivers of the S&P 500 rally is the reduction in the cost of borrowing in real terms. The negative correlation between the stock index and the yield of US Treasury bonds reached its highest levels since 2012, due to the Federal Reserve's desire to pause the process of normalizing monetary policy. 7 years ago, the central bank announced another round of quantitative easing.
The dynamics of the correlation of the S&P 500 and the yield of US bonds
https://lh5.googleusercontent.com/y1...vmM4TJikbCGyLn
However, the fall in real rates of the US debt market creates favorable conditions not only for the shares, but also for many assets of the commodity market, including gold, oil and copper. Precious metal does not bring interest income to its holders, so it cannot compete with bonds if their yield increases. Currently, it is falling, and investors are actively diversifying their portfolios in favor of XAU/USD.
The current consolidation of gold is due not only to profit taking by speculators after 9% of the winter rally, but also to the reluctance of the derivatives market to increase the chances of reducing the Federal funds rate in 2019. CME derivatives believe in the end of the normalization cycle, however, in order for them to adopt the idea of easing the Fed's monetary policy, further deterioration in macroeconomic statistics across the United States is necessary. Theoretically, it is very likely, because the traditionally bad weather for this time in the United States, the fading effect of the fiscal stimulus, the negative impact of the dollar's revaluation on exports and GDP, as well as the weakening of external demand due to trade wars draw moderately pessimistic prospects for US indicators. At least in the short-term investment horizon.
The dollar can recover in the medium-term. The euphoria about the de-escalation of the trade conflict has driven the S&P 500 too high. The rally does not have a solid foundation in the form of improved macroeconomic statistics. According to 65% of more than 90 experts from Reuters, US stock indexes are in danger of falling in the second half of this year. This will have a positive effect on safe-haven assets, including the US dollar.
Technically, if bulls on gold manage to keep quotes above $1,321 per ounce, the risks of continuing the rally in the direction of the target by 361.8% on the AB=CD pattern will increase.
Gold daily chart
https://lh4.googleusercontent.com/nu...9zydc3DHsX76av
Analysis are provided byInstaForex.
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Technical analysis: Intraday Level For EUR/USD, Mar 04, 2019
https://forex-images.ifxdb.com/userf...cb096bdfe9.jpg
When the European market opens, some economic data will be released such as PPI m/m, Sentix Investor Confidence, and Spanish Unemployment Change. The US will also publish the economic data such as Construction Spending m/m, so amid the reports, the EUR/USD pair will move with a low to a medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1425.
Strong Resistance: 1.1418.
Original Resistance: 1.1407.
Inner Sell Area: 1.1396.
Target Inner Area: 1.1369.
Inner Buy Area: 1.1342.
Original Support: 1.1331.
Strong Support: 1.1320.
Breakout SELL Level: 1.1313.
Analysis are provided byInstaForex.
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Technical analysis: Intraday Level For EUR/USD, Mar 05, 2019
https://forex-images.ifxdb.com/userf...df402833e6.jpg
When the European market opens, some economic data will be released such as Retail Sales m/m, Final Services PMI, German Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, and Spanish Services PMI. The US will also publish the economic data such as Federal Budget Balance, IBD/TIPP Economic Optimism, New Home Sales, ISM Non-Manufacturing PMI, Final Services PMI, so amid the reports, EUR/USD will move with a low to a medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1392.
Strong Resistance: 1.1385.
Original Resistance: 1.1374.
Inner Sell Area: 1.1363.
Target Inner Area: 1.1336.
Inner Buy Area: 1.1309.
Original Support: 1.1298.
Strong Support: 1.1287.
Breakout SELL Level: 1.1280.
Analysis are provided byInstaForex.
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AUD/USD. In the grip of contradictions: the aussie cannot choose the vector of its movement
The March meeting of the Reserve Bank of Australia was quiet and almost imperceptible. The regulator retained the parameters of monetary policy in its previous form and did not frighten the market with arguments about the interest rate reduction in the foreseeable future. The Australian dollar, in turn, reacted accordingly: paired with the US currency, the "aussie" remained within the 70th figure, and Tuesday's price fluctuations were associated more with Chinese data than with the results of the RBA meeting.
https://lh4.googleusercontent.com/JZ...wWWqf2EG5Bn-tL
In order to assess the prospects of AUD/USD, first of all it is necessary to remember the reasons for the pair's decline last month. The downward impulse was due to the rhetoric of the head of the RBA Philip Lowe, who, to the surprise of many traders, allowed the probability of lowering the interest rate this year. It is worth noting that in fact his phrase was more shrouded – firstly, he reported the transition to a "neutral position" in monetary policy, and secondly, he noted that the rate can be both increased and reduced. But the market interpreted this commentary in its own way, especially since earlier in the text of the accompanying statement there was only a phrase that "in the future" the parameters of monetary policy will be tightened. In other words, the regulator has transparently hinted that in the near future it will take a wait-and-see position, and then act on the situation, and the option of reducing the rate is likely to be the opposite scenario. In response to such prospects, the AUD/USD pair fell by almost 200 points, but the price did not fall below the 70th figure, stuck in a narrow-range flat.
Given Philip Lowe's rather dovish rhetoric, many experts warned that the regulator could significantly soften its tone at the March meeting. However, these forecasts did not come true: the Reserve Bank voiced a cautious, but not pessimistic position, even noting positive developments in the Australian economy - in particular, regarding the labor market.
Let me remind you that according to the latest published data, the unemployment rate in Australia remained at five percent, but the increase in the number of employed jumped to 39.1 thousand - the last time such a dynamics was observed was back in August 2018. Moreover, employment growth in January was not due to part-time employment — on the contrary, the employment rate for full-time jobs, which imply higher wages, surpassed a one-and-a-half high, while part-time employment showed a negative trend. This factor has a positive effect on the dynamics of wage growth and, indirectly, on the dynamics of inflation growth.
However, despite the neutral and optimistic results of the March meeting of the RBA, the aussie did not regain its position or even leave the region of the 70th figure. The reason for this is China. Today, another disappointing data from China was published, which again reminded the market of the slowdown of the world's largest economy. Thus, the index of business activity in the services sector from Markit (Markit Services PMI) sharply declined in February, reaching 51.1 points. Over the previous three months, this indicator came out within the framework of 53 points, therefore, such a sharp and, most importantly, unexpected (forecast was at the level of 53.5 points) downward jump had an impact on the dynamics of today's trading. The Australian dollar is most sensitive to the decline in Chinese indicators, since China is its main trading partner.
https://lh6.googleusercontent.com/FL...rnJaK0pnZLg0s7
Taking into account such contradictory fundamental factors, the AUD/USD pair will continue to be traded in the flat - if only the data on Australian GDP growth for the fourth quarter of last year (the release is scheduled for March 6) prove to be stronger/weaker than forecasts. According to general expectations, the Australian economy should grow by 0.5% qoq and decrease to 2.7% year-on-year. If the release comes out at the level of forecasts, then the pair's situation will remain as before, otherwise the aussie will test either the support level (0.7020 - the lower boundary of the Kumo cloud on the daily chart), or the resistance level (0.7180, where Kijun-sen coincides with the upper line of the Bollinger Bands indicator on the same timeframe).
Analysis are provided byInstaForex.
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AUD/USD: The aussie dives down, but there is strong support ahead
Yesterday, the Australian dollar showed certain optimism, "inspired" by the results of the March meeting of the RBA. The regulator took a cautiously optimistic stance, focusing on the positive aspects of the Australian macroeconomic reports. Contrary to the fears of many experts, the central bank did not discuss the issue of reducing the interest rate, leaving some hope for the preservation of the status quo. But today, market mood regarding the prospects of the Australian currency has changed dramatically: published data on GDP growth in Australia suggests that the option of easing monetary policy can not be dismissed. Moreover, according to a number of currency strategists, such a scenario should be considered as one of the main ones.
Data on the growth of the Australian economy was disappointing. What is alarming is not just the fact that the country's GDP slowed down in the fourth quarter of last year - it is a persistent trend towards a decrease in the key indicator. Thus, if in the first quarter of 2018, Australia's GDP was at the level of 1.1% (quarterly), in the second quarter it decreased to 0.9%, in the third – to 0.3%, and finally in the fourth – to 0.2%. The same dynamics is observed in annual terms of the indicator: I quarter – 3.2%, II – 3.1%, III – 2.7% and IV – 2.3%. Today's release was not only worse than forecasts, but it also marked a certain anti-record. For example, on a quarterly basis, the indicator showed the weakest growth dynamics since the third quarter of 2016.
https://lh3.googleusercontent.com/Oa...S-spnUI1eVxppi
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It is worth recalling that at its January meeting, the Reserve Bank of Australia downwardly revised its forecast for economic growth this year - from 3.5% to 3%. However, the figures published today suggest that the RBA may return to this issue in the future, reducing its growth forecast to at least 2.8%. Extremely weak indicators for the fourth quarter cast doubt on the sustainability of the country's economic growth and, consequently, increases the likelihood of a response from the Australian regulator. As I mentioned above, some currency strategists warn their clients about the implementation of such a scenario.
So, in late February, experts from Westpac (one of the largest banks in Australia, included in the "big four" banks of the country) surprised traders with the fact that they had made a double RBA rate cut before the end of this year. At the same time, economists of this bank, at the beginning of the year, claimed that the regulator would leave the rate unchanged until the end of 2020. Such a sharp turn put some pressure on the Australian dollar, which was then offset by good data on the Australian labor market and neutral results of the March meeting.
Nevertheless, Westpac did not abandon its "dovish" forecast: moreover, today this opinion was supported by two more conglomerates - JPMorgan and Macquarie Bank. Analysts of these banks said that the Australian regulator will not be able to ignore the further slowdown in the economy, while there are no prerequisites for changing the situation at the moment, especially against the background of the slowdown in the PRC economy. Therefore, the RBA will have no other choice but to lower the interest rate - at least once before the end of this year. The opinion of several large banks is shared by many experts, who voiced their point of view following the release of disappointing data.
According to more restrained forecasts, the RBA will still hold a wait-and-see position, but if there are no clear and strong signals about economic recovery in the coming months, then the central bank will still lower the rate - especially if economists worsen GDP growth forecasts for this year to 2.6% .
After such an unexpected reversal in the market's general sentiment, the Australian dollar was under considerable pressure. Paired with the US dollar, the aussie is heading to the main support level of 0.70. This mark is a "price stronghold", which is difficult to break through, but even more difficult - to consolidate in the area of 69-68 figures. If you look at the weekly and monthly charts, you can see that the pair was under the 70th mark only in 2016 for the last time in a long time. After that, the bears made impulsive attempts to break through, but the price quickly returned to its usual niche.
https://lh5.googleusercontent.com/wo...nJM-NRnc4solgB
Therefore, despite the negative fundamental background for the aussie, short positions in the AUD/USD pair currently appear risky, with the price now in the area of 0.7030, that is very close to the key level of support. In this case, it is advisable to observe the behavior of the pair at the bottom of the 70th figure. If the bearish momentum fades, then a corrective pullback will probably follow (approximately to 0.7080, that is, to the upper boundary of the Kumo cloud on D1), which, however, does not cancel the overall downward trend for the pair.
Analysis are provided byInstaForex.
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Forecast for GBP/USD on March 8, 2019
Data on the growth of the Australian economy was disappointing. What is alarming is not just the fact that the country's GDP slowed down in the fourth quarter of last year - it is a persistent trend towards a decrease in the key indicator. Thus, if in the first quarter of 2018, Australia's GDP was at the level of 1.1% (quarterly), in the second quarter it decreased to 0.9%, in the third – to 0.3%, and finally in the fourth – to 0.2%. The same dynamics is observed in annual terms of the indicator: I quarter – 3.2%, II – 3.1%, III – 2.7% and IV – 2.3%. Today's release was not only worse than forecasts, but it also marked a certain anti-record. For example, on a quarterly basis, the indicator showed the weakest growth dynamics since the third quarter of 2016.
https://lh6.googleusercontent.com/N9...V9YLl0beLXGo3Z
https://lh5.googleusercontent.com/tl...WECxYDt1XurTLY
On a smaller scale, H4, price convergence with the Marlin oscillator is being formed, which can be realized in a correction from the pound's fall from February 28, visually from the balance line to the daily. We do not expect a high correction, since the signal level of 1.3108 can assume the role of a split, that is, the level at which the price will be wound in a consolidation process.
Analysis are provided byInstaForex.
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Technical analysis: Intraday Level For EUR/USD, Mar 11, 2019
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When the European market opens, some economic data will be released such as German Trade Balance and German Industrial Production m/m. The US will also publish the economic data such as Business Inventories m/m, Retail Sales m/m, and Core Retail Sales m/m, so amid the reports, the EUR/USD pair will move with a low to a medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1280.
Strong Resistance:1.1274.
Original Resistance: 1.1263.
Inner Sell Area: 1.1252.
Target Inner Area: 1.1226.
Inner Buy Area: 1.1200.
Original Support: 1.1189.
Strong Support: 1.1178.
Breakout SELL Level: 1.1172.
Analysis are provided byInstaForex.
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Technical analysis: Intraday Level For EUR/USD, Mar 12, 2019
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When the European market opens, some economic data will be released such as French Final Private Payrolls q/q. The US will also publish the economic data such as 10-y Bond Auction, Core CPI m/m, CPI m/m, and NFIB Small Business Index, so amid the reports, the EUR/USD pair will move with a low to a medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1313.
Strong Resistance:1.1307.
Original Resistance: 1.1296.
Inner Sell Area: 1.1285.
Target Inner Area: 1.1259.
Inner Buy Area: 1.1233.
Original Support: 1.1222.
Strong Support: 1.1211.
Breakout SELL Level: 1.1205.
Analysis are provided byInstaForex.
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Technical analysis: Intraday Level For EUR/USD, Mar 13, 2019
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When the European market opens, some economic data will be released such as German 30-y Bond Auction, Industrial Production m/m, and Italian Quarterly Unemployment Rate. The US will also publish the economic data such as Crude Oil Inventories, Construction Spending m/m, Durable Goods Orders m/m, Core PPI m/m, PPI m/m, and Core Durable Goods Orders m/m, so amid the reports, the EUR/USD pair will move with a low to a medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1344.
Strong Resistance: 1.1338.
Original Resistance: 1.1327.
Inner Sell Area: 1.1316.
Target Inner Area: 1.1290.
Inner Buy Area: 1.1264.
Original Support: 1.1253.
Strong Support: 1.1242.
Breakout SELL Level: 1.1236.
Analysis are provided byInstaForex.
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Technical analysis: Intraday Level For EUR/USD, Mar 14, 2019
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When the European market opens, some economic data will be released such as French Final CPI m/m and German Final CPI m/m. The US will also publish the economic data such as Natural Gas Storage, New Home Sales, Unemployment Claims, and Import Prices m/m, so amid the reports, the EUR/USD pair will move with a low to a medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1383.
Strong Resistance: 1.1376.
Original Resistance: 1.1365.
Inner Sell Area: 1.1354.
Target Inner Area: 1.1330.
Inner Buy Area: 1.1300.
Original Support: 1.1289.
Strong Support: 1.1278.
Breakout SELL Level: 1.1271.
Analysis are provided byInstaForex.
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USD/CAD approaching support, potential bounce!
USD/CAD is approaching our first support at 1.3241 (horizontal pullback support, 61.8% Fibonacci retracement, 100%, 61.8% Fibonacci extension) where a strong bounce to our major resistance level at 1.3347 (50% Fibonacci retracement) might occur. Stochastic (89,5,3) is also nearing support where we might see a bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.
https://forex-images.ifxdb.com/userf...b04e6675cb.png
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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USD/CHF approaching support, potential bounce!
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USD/CHF is approaching our first support at 1.0018 (horizontal pullback support, 61.8% Fibonacci extension) where a strong bounce might occur to our major resistance at 1.0054 (38.2% Fibonacci retracement). Stochastic (34,5,3) is also nearing support where we might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.
Analysis are provided byInstaForex.
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Technical analysis: Intraday Levels For EUR/USD, Mar 19, 2019
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When the European market opens, some economic data will be released such as ZEW Economic Sentiment, German ZEW Economic Sentiment, and Italian Trade Balance. The US will also publish the economic data such as Factory Orders m/m, so amid the reports, the EUR/USD pair will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1394.
Strong Resistance: 1.1387.
Original Resistance: 1.1376.
Inner Sell Area: 1.1365.
Target Inner Area: 1.1338.
Inner Buy Area: 1.1311.
Original Support: 1.1300.
Strong Support: 1.1289.
Breakout SELL Level: 1.1282.
Analysis are provided byInstaForex.
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EUR/USD. The dollar is getting cheaper ahead of the March Fed meeting
The dollar index continues to dive down. After reaching the local high of 97.26 on March 7 (a three-month high), the indicator started to actively give up its positions - the index is currently already at the level of 95.86. The nearly recoilless movement of the indicator indicates market alertness: the closer the date of the March Federal Reserve meeting, the more that traders actively get rid of the greenback. The nervousness of investors is understandable: after all, the so-called "Fed points" (dot plots) will be published on Wednesday, which will mark the likely actions of the regulator this year. For the first time in a long time, one of the hypothetical scenarios suggests a reduction in the rate. This fact does not make it possible for dollar bulls to develop an offensive in the foreign exchange market: in almost all pairs, the US currency has lost its advantage. The euro-dollar pair is no exception.
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However, "not a single Federal Reserve" lives the market today. Today, the growth of the EUR/USD pair is also spurred by good macroeconomic data from Europe, as well as a news background regarding the future prospects of Brexit. Thus, the ZEW Institute's sentiment index for the business environment in Germany showed the strongest increase in March over the last year. And although the indicator remained in the negative area, traders drew attention to the dynamics of its growth. In addition, the increase in the index as a whole in the eurozone also surpassed expectations, having updated its 10-month high. Against the background of a half-empty economic calendar, these releases were enough for EUR/USD bulls to test the middle of the 13th figure, especially against a weakened dollar.
The Brexit theme also makes it possible for the pair to be bullish. Although at the moment, no one can predict how the confrontation in the May-Parliament-Brussels triangle will end, one thing can be said with certainty: in the foreseeable future, there will be no "hard" Brexit. All other scenarios somehow "fit" the currency market, the only difference is how long the period of uncertainty lasts.
Despite the importance of the fundamental factors mentioned above, the Fed meeting is still the main engine of growth for the EUR/USD, or rather, expectations of its outcome. According to the expectations of most experts, the Fed will change its monetary policy forecast, reducing the number of expected rate increases from two to one. Also, the regulator may announce the suspension of the balance sheet reduction. In general, the text of the accompanying statement, as well as the rhetoric of Jerome Powell (who will hold a press conference), will be cautious in nature, implementing the "policy of patience".
If this scenario is implemented tomorrow, which is the basis for the market, the reaction of the dollar is unlikely to be large-scale. But any deviation from it will cause a fairly strong volatility. First of all, you should pay attention to the assessment of the latest US macroeconomic data. Nonfarm and CPI showed quite contradictory dynamics, therefore unpleasant surprises are possible for dollar bulls. Let me remind you that following a record increase in the number of people employed in January (by 311 thousand), this figure then fell to 20 thousand in February.
https://lh6.googleusercontent.com/l6...VK-TtnVbEdWKV5
Experts are still arguing over what caused such a sharp decline - seasonal factors, massive teacher strikes or systemic problems. By the way, the initial optimism about reducing the unemployment rate from 4% to 3.8% came to nothing, since this dynamic is explained by the return of government employees after a prolonged shutdown.
As for inflation, the situation is even worse. The increase in consumer price index in January was 1.8% compared to the same period last year, while the base PCE excluding food and energy prices rose by 1.9%. Thus, inflation slowed down compared with the period of last year, and this fact goes against the forecasts of the US central bank, whose members hoped to keep the key indicator at a two percent level. On the other hand, good data on wage growth in the United States may slightly smooth out the negative reaction - although the overall inflationary trend leaves much to be desired.
Thus, for the dollar, there are two potentially dangerous options for the event's development: if the Fed completely eliminates the likelihood of a rate hike this year, and if the Fed head allows the rate to drop in the foreseeable future. All other options will either have a neutral impact on the greenback, or strengthen its position throughout the market.
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In a technical point of view, the pair finally consolidated above the middle line of the Bollinger Bands indicator on the daily chart (that is, above the mark of 1.1320) - EUR/USD bulls attacked this target for a week and a half. Now the pair has the potential to increase towards the next resistance level - the lower boundary of the Kumo cloud, which corresponds to the price of 1.1390. The Golden Cross formed by the Ichimoku indicator also confirms the priority of an upward movement. However, the saturated events of the environment can turn the price by 180 degrees - especially if the Fed has shown unexpected optimism about tightening monetary policy in the second half of the year. If the regulator reduces the upper limit of the neutral range to 2.75% or even to the current 2.50%, the dollar will fall under the next wave of being sold.
Analysis are provided byInstaForex.
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Technical analysis: Intraday Levels For EUR/USD, Mar 21, 2019
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When the European market opens, some economic data will be released such as ECB Economic Bulletin and EU Economic Summit. The US will also publish the economic data such as Natural Gas Storage, CB Leading Index m/m, Unemployment Claims, and Philly Fed Manufacturing Index, so amid the reports, the EUR/USD pair will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1489.
Strong Resistance: 1.1482.
Original Resistance: 1.1471.
Inner Sell Area: 1.1460.
Target Inner Area: 1.1433.
Inner Buy Area: 1.1406.
Original Support: 1.1395.
Strong Support: 1.1384.
Breakout SELL Level: 1.1377.
Analysis are provided byInstaForex.
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Brexit: The UK proposed a date of June 30, which did not suit the EU. The deadline is May 22, with a number of conditions
The British pound fell sharply against the US dollar during the first half of the day after news came out that the EU leaders might reject the British Prime Minister Theresa May's request to postpone Brexit. Yesterday, the government sent a request to the EU to postpone the UK release date from March 29 to June 30. However, today there are reports in the media that the release date cannot be postponed to a date later than May 22.
Moreover, one of the EU's conditions is the Parliament's ratification of May's proposed agreement on Brexit, which has already been rejected twice by the House of Commons.
This news put serious pressure on the pound, since this option significantly increases the likelihood that the UK will withdraw from the EU on March 29 without an agreement.
Let me remind you that the summit in Brussels will begin today, where the leaders of the European Union will decide on the granting of the delay and its duration for two days.
As for the fundamental data that came out today on the UK economy, it did not have the desired effect and did not help the pound.
According to the report, UK retail sales increased in February, despite the events related to Brexit.
According to the National Bureau of Statistics, in February 2019, UK retail sales rose by 0.4% compared with January, after rising by 0.9% in January. Economists had expected retail sales to decline by 0.4% in February. Good retail sales are sure to support GDP growth after a weak completion in 2018.
Today, a report was also released in which it was stated that the net borrowings of the PSNB state sector amounted to £0.2 billion in February. The net borrowings of the UK public sector over the past 11 months at the end of March 2019 amounted to 23.1 billion pounds.
The Bank of England's decision to leave the key interest rate at 0.75% slightly supported the British pound. The decision was made with a vote ratio of 9-0.
https://lh6.googleusercontent.com/4l...N1xBz4AIChJHXB
The regulator said that it expects a smooth tightening of monetary policy in the event of an orderly exit of Great Britain from the EU, and that the outlook for the economy depends on it.
As for the technical picture of the GBPUSD pair, large levels of support are now visible in the areas of 1.3080 and 1.3030. In case of an upward correction on Brexit news, growth can be restrained by the resistances of 1.3225 and 1.3320.
Analysis are provided byInstaForex.
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Control zones AUDUSD 03/25/19
In the middle of last week, the pair reached a monthly KZ, within which the weekly KZ of 0.9914-0.9895 is located. The emergence of a large demand indicates the interest of major players in keeping the course within the monthly volatility. The key zone of correction will be the NKZ 1/2 1.0008-0.9998, the test of which will make it possible for you to get favorable prices for the selling the instrument.
https://lh4.googleusercontent.com/tL...UAxhqil0dC0HAv
It is important to understand that purchases are corrective in nature, so it will require consolidating a long position when approaching the resistance zone and searching for a pattern in the direction of continuing the medium-term impulse downwards.
An alternative model will be developed if the current closure of the US session occurs above the level of 1.0008. This will open the way for the pair to increase this week and cancel the option of selling the instrument from the NKZ 1/2 zone. The probability of forming a reversal pattern is 30%, which makes it a support.
https://lh6.googleusercontent.com/R1...uEc6eRaSC1KEs7
Daily KZ - daily control zone. The zone formed by important data from the futures market, which change several times a year.
Weekly KZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly KZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.
Analysis are provided byInstaForex.
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Trading plan for EUR/USD for March 26, 2019
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Technical outlook:
The EUR/USD pair has stalled below the 1.1340 levels after finding support at the 1.1273 levels last week. Please note that the prices should remain above the 1.1273 levels for bulls to remain in control. In a broader sense, the 1.1175 levels should be held if EUR/USD needs to rally towards the 1.16/1.17 levels going forward. If we consider the drop after breaking resistance at the 1.1448 levels, it is still in the wave 3, which is corrective. Also note that the Fibonacci 0.786 support comes in at the 1.1240 levels and a bullish bounce is possible. But the price breaking further below the 1.1240 levels would increase the probability of giving up support at the 1.1175 levels. From the trading point of view, it is safe to open long deals, but below the 1.1273 levels. The price action unfolding in the next 1-2 trading sessions would confirm whether EUR/USD is going to produce an extended rally towards the 1.1800 levels or not.
Trading plan:
Aggressive traders, remain long with a stop loss order below 1.1273, the target is open.
Conservative traders, remain flat for now.
Analysis are provided byInstaForex.
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1 Attachment(s)
Forecast for GBP/USD on March 27, 2019
Attachment 34938
GBP/USD
Yesterday, the British pound made another attempt to exit above the signal level 1.3216, but without success. The marlin oscillator readings did not change on both graphs, they are neutral, signal lines develop along the border that separates the growth zone from the decline zone.
On the four-hour chart, the price is below the balance line and the MACD line. The immediate target - the MACD line of the daily chart (1.3020), remains relevant. Leaving prices for this target level opens the subsequent target at 1.2884 - the support line for the weekly price channel.
Analysis are provided byInstaForex.
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1 Attachment(s)
Forecast for EUR/USD on March 28, 2019
EUR/USD This morning, the euro did not reach the target level of 1.2434, but it could still happen during the day, which does not break the convergence with the marlin oscillator on the four-hour scale. But regardless of this level's development, the price prepared the technical conditions for a small correction, in the range of 1.1275-1.1310. The upper limit of the range is due to the MACD line resistance on the four-hour chart.
Attachment 34961
Consolidating prices below 1.1234 opens a new target - 1.1155 (Fibonacci reaction level 110.0%
Analysis are provided byInstaForex.
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1 Attachment(s)
Forecast for GBP/USD on March 29, 2019
GBP/USD
Yesterday, the British pound fell 114 points. The target of 1.3035 was achieved - support for the MACD line of the daily scale. The price went below the red indicator line of balance, which means a shift in the overall trend downwards, the signal line of the marlin oscillator has penetrated deep into the decline territory.
Attachment 34979
On the four-hour chart, the price consolidated below the indicator lines of the balance and MACD, the marlin oscillator indicates the prospect of a further decline in price.
So, after the price goes below yesterday's low, which automatically means that the price goes under the support of the MACD line on a daily scale, a target of 1.2884 opens - supporting the embedded line of the price channel of the higher timeframe. With the overcoming of this support, it is possible for the price to further decline to the February 14 low - 1.2772.
Analysis are provided byInstaForex.
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EUR/CAD approaching resistance, potential drop!
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EURCAD is approaching our first resistance at 1.5033 (horizontal overlap resistance, 61.8% Fibonacci extension , 23.6% Fibonacci retracement ) where a strong drop might occur to our major resistance at support at 1.4925 (horizontal swing low support). RSI (34) is also approaching resistance and ichimoku cloud is also showing signs of bearish pressure. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Analysis are provided byInstaForex.
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NZD/USD approaching support, potential bounce!
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NZDUSD is approaching our first support at 0.67556 (long term ascending support line, horizontal swing low support, 50% Fibonacci retracement , 100% Fibonacci extension ) where a strong bounce might occur above this level to our major resistance at 0.6866 (horizontal overlap resistance, 61.8% Fibonacci retracement ). Stochastic is also approaching support. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Analysis are provided byInstaForex.
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NZD/USD approaching support, potential bounce!
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NZDUSD is approaching our first support at 0.6744 (long term ascending support line, horizontal swing low support, 50% Fibonacci retracement , 100% Fibonacci extension ) where a strong bounce might occur above this level to our major resistance at 0.6866 (horizontal overlap resistance, 61.8% Fibonacci retracement ). Stochastic is also approaching support. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Analysis are provided byInstaForex.
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Nikkei approaching resistance, potential drop!
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Nikkei is approaching our first resistance at 22630.1 (horizontal swing high resistance, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 20855.7 (50% Fibonacci retracement , horizontal swing low support). Stochastic (21,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Analysis are provided byInstaForex.
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AUD/USD approaching resistance, potential drop!
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AUDUSD is approaching our first resistance at 0.7145 (horizontal swing high resistance, 78.6% Fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 0.7111 (38.2% Fibonacci retracement , 100% Fibonacci extension ). Stochastic is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Analysis are provided byInstaForex.
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EUR/USD approaching resistance, potential bounce!
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EURUSD is approaching our first support at 1.11744 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where a strong bounce to our first resistance at 1.13369 (horizontal swing high resistance, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ) might occur. Stochastic is also approaching support where we might see a bounce above this level.
Analysis are provided byInstaForex.
