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This is a discussion on Tifia Daily Market Analytics within the Analytics and News forums, part of the Trading Forum category; NZD/USD: the pair remains under pressure, despite the correction 01/11/2017 Current dynamics After the publication of data on the New ...

          
   
  1. #161
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    NZD/USD: the pair remains under pressure, despite the correction
    01/11/2017
    Current dynamics

    After the publication of data on the New Zealand labor market for the 3rd quarter, the New Zealand currency sharply increased in price during today's Asian session. According to the Bureau of Statistics of New Zealand, the unemployment rate in New Zealand fell again in the third quarter, reaching 4.6% compared with 4.8% in the second quarter. Thus, unemployment in the 3rd quarter fell to the lowest level since the global financial crisis.
    Nevertheless, the growth of the NZD / USD pair is likely to be limited in the face of the strengthening US dollar.
    Today (at 18:00 GMT) is expected to publish the decision of the Federal Reserve on rates. Most economists believe that the rate will be left at the current level of 1.25%. Attention of investors will be focused on the text of the press release from this meeting of the Fed.
    *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

    Support and resistance levels
    As a result of the active decline at the end of last month the NZD/USD again reached an important support level of 0.6860 (Fibonacci level of 23.6% and the lower limit of the range between 0.7550 and 0.6860).
    Nevertheless, attempted breakdown of this level has not yet been crowned with success. On strong data from the New Zealand labor market for 3Q, published yesterday at the end of the trading day, the New Zealand dollar strengthened, and the NZD / USD pair was able to grow to a short-term resistance level of 0.6915 (EMA200 on the 1-hour chart).
    The upward correction may extend to the resistance level of 0.7060 (EMA200 on the 4-hour chart) if the results of the Fed meeting or the choice of a new Fed governor will surprise and the US dollar will weaken on this information.
    Only a return to the zone above the resistance levels of 0.7240 (the Fibonacci level of 38.2% of the upward correction to the global wave of decline of the pair from the level of 0.8800, which began in July 2014, here are the minimums of December 2016), 0.7280 (EMA200 on the weekly chart) will signal on the resumption of the medium-term upward dynamics.
    So far, strong downward dynamics are prevailing.
    Confirmed breakdown of the support level of 0.6860 will mean the end of the upward correction, which began in September 2015, and a return to the global downtrend.
    So far, strong downward dynamics are prevailing.
    Support levels: 0.6900, 0.6860, 0.6800
    Resistance levels: 0.6980, 0.7060, 0.7150, 0.7200, 0.7240, 0.7280

    Trading Scenarios

    Sell in the market. Stop-Loss 0.6940. Take-Profit 0.6900, 0.6860, 0.6800
    Buy Stop 0.6940. Stop-Loss 0.6890. Take-Profit 0.7000, 0.7060, 0.7100, 0.7150, 0.7200, 0.7240, 0.7280



    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

  2. #162
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    DJIA: financial markets are waiting important events
    02/11/2017
    Current dynamics

    For several days in a row, the main US stock indexes are traded in a narrow range, while maintaining, in general, a positive dynamic.
    As it became known, on Saturday Trump stopped on the candidacy of Powell. He is a Republican and since 2010 has been one of the central bank governors, well aware of the Fed's activities "from within". Powell is considered to be a supporter of the actions of the current head of the Fed, Janet Yellen, and is less inclined to aggressively tighten monetary and credit policy than other candidates. In his opinion, the Fed's actions to raise interest rates "should be carried out gradually, while the development of the economic situation in the country roughly corresponds to expectations". The appointment of Powell is likely to mean continuity in the conduct of monetary policy and, perhaps, a slight easing of measures to regulate financial markets.
    In addition, the Fed on Wednesday, as expected, kept interest rates unchanged, but signaled that it could raise them one more time this year. Until the end of the year, another meeting of the Fed is scheduled, which should be held December 12-13.
    "Economic activity is growing at a strong pace, despite the obstacles, made by hurricanes," the Fed said in a statement following the meeting that ended on Wednesday.
    Markets with a high degree of confidence expect a rate hike in December.
    At the beginning of the European session, the dollar partially recovered from the initial losses, but remained on the negative territory to most other major currencies. Yield of 10-year US government bonds, according to Tradeweb, fell to 2.371% from 2.378% recorded on Wednesday, and investors, just in case, buy gold in case of unforeseen events.
    Today investors are waiting for a busy day. The Bank of England is expected to raise the key interest rate for the first time in more than a decade, while Republicans in the United States are preparing to publish a plan for changing the taxation system.
    At 12:00 (GMT), the Bank of England's interest rate decision will be published, and at 12:30 the Bank of England head, Mark Carney, will make an explanation of the bank's further plans.
    Thus, today, volatility in the financial markets is expected to grow rapidly. Nevertheless, the US stock market is expected to retain a positive momentum. In addition, analysts closely monitor corporate reporting, which many regard as the main driver of the rally in the stock markets this year
    *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

    Support and resistance levels
    Last month DJIA updated the absolute maximum near the mark 23460.0. Since January 2016 DJIA has been growing steadily. Especially remarkable are the last 8 almost recoilless weeks of growth.
    Positive dynamics is maintained, and at the beginning of today's European session, the index is trading near the mark of 23400.0. In case of breakthrough of resistance level 23460.0, DJIA growth will continue until the price "gropes" for new resistance levels.
    Consideration of short positions is possible only in the short term with targets at support levels 22900.0 (EMA200 on the 4-hour chart), 22720.0 (EMA50 on the daily chart).
    The signal to open short positions will be a breakdown of short-term support level of 23340.0 (EMA200 on the 1-hour chart).
    So far, the DJIA index is trading above the key support levels of 21610.0 (the Fibonacci level is 23.6% correction to the wave growth from the level of 15660.0 after the recovery in February of this year to the collapse of the markets since the beginning of the year. The maximum of this wave and Fibonacci 0% is near the mark 23460.0), 21460.0 (EMA200 on the daily chart), its long-term positive dynamics persists.
    Support levels: 23340.0, 22900.0, 22720.0, 22410.0, 22140.0, 22000.0, 21610.0, 21460.0
    Resistance levels: 23460.0

    Trading scenarios

    Buy Stop 23490.0. Stop-Loss 23300.0. Take-Profit 23600.0, 23700.0, 24000.0
    Sell Stop 23300.0. Stop-Loss 23490.0. Take-Profit 23285.0, 22820.0, 22670.0, 22410.0, 22140.0, 22000.0, 21610.0, 21460.0



    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

  3. #163
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  4. #164
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    GBP / USD: on the eve of NFP publication
    03/11/2017
    Current dynamics

    The index of supply managers (PMI) for the UK services sector in October was 55.6 (forecast was 53.4, in September PMI for the UK services sector was 53.6). Such data was presented today by the Royal Institute of Procurement and Supply in conjunction with Markit Economics. This index is an indicator of the economic situation in the services sector of the UK and does not have such a strong impact on GDP, as PMI in the manufacturing sector. Despite the strong performance, the pound reacted rather sluggishly to the data presented. Investors continue to assess yesterday's decision by the Bank of England to raise interest rates and the speech of the head of the bank Mark Carney.
    As you know, the rate was raised to 0.5% from 0.25%, for the first time in the last 10 years, which was not a surprise. Two of the 9 members of the Monetary Policy Committee David Ramsden and John Cunliffe voted against the decision, remaining dissatisfied with the low growth in the British salaries and the decline in domestic spending. The UK economy is largely oriented to the domestic market, and a weak growth or decrease in domestic consumption costs negatively affects the country's GDP growth.
    The minutes of the meeting of the Bank of England also indicated the need for two stages of raising the rate by the same amount until 2020. In response, the rate of the pound and UK government bonds fell. On Thursday, the pound fell to the dollar by 1.4%.
    The uncertainty that emerged after the vote for secession from the EU in June 2016 continues to have a negative impact on the country's economy. According to the forecast of the Bank of England, in 2018 and in subsequent years, GDP growth will be 1.7%.
    Meanwhile, on Friday, the index of the dollar WSJ, assessing its rate to 16 currencies, grew by 0.1%. Investors continue to assess the details of the Republican project and the appointment of Jerome Powell to the post of head of the Fed.
    Today, investors are preparing to publish (at 12:30 GMT) data on the number of jobs outside of US agriculture in October. This report is a key indicator of the state of the US economy, and favorable data will be taken into account by the Fed in the decision to raise rates at the meeting on December 13. It is expected that the number of jobs (indicator NFP) in October increased by 312,000. In September, for the first time in seven years, there was a decrease in the number of new jobs (by 33,000), which is explained by hurricanes.
    If the data is confirmed, the dollar will continue to strengthen. If the data prove to be much weaker, for example, below 150,000 new jobs, the dollar will react with a decline throughout the currency market. In any case, a surge in volatility is expected in the period of publication of data from the labor market. Often there is a sharp jump in the dollar in one direction and no less sharp subsequent rollback. Many traders in the US call the day of publication of data on the labor market "pay day".
    Also, important US macro data (business activity indices in the services sector and production orders) will be published at 14:45 and 15:00 (GMT), which can become a generator of either a rollback after a strong movement on the NFP, or an incentive to strengthen the dollar's movement to the same side.
    *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics


    Trading Scenarios
    Sell Stop 1.3030. Stop-Loss 1.3110. Take-Profit 1.3000, 1.2975, 1.2590, 1.2365, 1.2110, 1.2000
    Buy Stop 1.3110. Stop-Loss 1.3030. Take-Profit 1.3185, 1.3210, 1.3300, 1.3335, 1.3440, 1.3500, 1.3630, 1.3740, 1.3970, 1.4100



    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

  5. #165
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    NZD/USD: pair growth will be limited
    07/11/2017
    Current dynamics

    Yesterday, the New Zealand dollar received support after New Zealand's finance minister Grant Robertson said he did not want to include targeting of the national currency in the new responsibilities of the Reserve Bank of New Zealand.
    As it became known, the new government of New Zealand intends to new evaluate the policy of the RBNZ. At the first stage, changes will be recommended to the RBNZ policy aimed at increasing employment in New Zealand, and changes will be offered regarding the RBNZ leadership. Decisions in the central bank will have to be carried out by the vote of the committee, while the role of the manager will go to the background. Further changes in the RBNZ policy will be discussed with the involvement of independent experts.
    It is still not clear how the planned changes in the activities of the RBNZ will affect the quotations of the New Zealand currency. Deputy Prime Minister Winston Peters has already hinted that a weakening of the New Zealand dollar could help the country's exporters.
    A survey of business circles conducted last week in the country showed a sharp drop in confidence, and it turned out to be much lower than its average. The last two weeks there has been a recovery of the New Zealand dollar, which became the leader of the fall last month after the results of the general elections in New Zealand, held at the end of September, became known.
    Nevertheless, the growth of the NZD/USD is likely to be limited in the face of the strengthening US dollar and, therefore, the decline in commodity prices and the quotations of commodity currencies, which include the New Zealand dollar.
    The US dollar continues to strengthen in the foreign exchange market as against the background of positive macroeconomic data coming from the US, and against the background of the appointment of a new Fed governor, who will take office in February next year. According to some economists, under the leadership of the new head of the Fed can raise rates not three, but four times in 2018. It is assumed that at the next meeting, which is scheduled for December 12-13, the interest rate will be increased by 0.25%. In the future, the Fed may raise the rate quarterly, starting in March 2018.
    Thus, the fundamental factors testify to the further reduction of the NZD / USD.
    From the news for today, we are waiting for the publication of the results of the dairy auction (in the period after 14:00 GMT). Two weeks ago, the price index for dairy products, prepared by Global Dairy Trade, came out with a value of -1% (against the previous value of -2.4%). Dairy products - one of the main exports of New Zealand, therefore, a decline in world prices for dairy products will hurt the quotes of the New Zealand dollar.
    *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

    Trading Scenarios
    Sell in the market. Stop-Loss 0.6970. Take-Profit 0.6900, 0.6860, 0.6800
    Buy Stop 0.6970. Stop-Loss 0.6890. Take-Profit 0.7000, 0.7030, 0.7075, 0.7140, 0.7200, 0.7240, 0.7270



    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

  6. #166
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    Brent: prices remain on mid-2015 highs
    08/11/2017
    Current dynamics

    Quotations of oil futures fell on Tuesday, however, they remained on the mid-2015 highs. January futures for Brent crude oil fell in price by 0.53%, to 63.35 dollars per barrel. The spot price for Brent crude at the beginning of today's European session is near the mark of 63.55 dollars per barrel after the day before the price reached the high of 2017 near the mark of 64.45 dollars per barrel.
    Oil prices at the beginning of the week rose to their highest levels since 2015 due to the fact that the Saudi Crown Prince Mohammed bin Salman ordered the arrest of more than 50 people on suspicion of corruption, including members of the royal family, ministers and big businessmen.
    Oil prices also received support after Yemeni hussites rebels launched a ballistic missile in the vicinity of Riyadh, which was shot down in the vicinity of the capital. The tensions between Saudi Arabia and Iran, which supports the hussites, intensified. Both countries are members of OPEC.
    Investors are concerned that the power struggle in Saudi Arabia, which is the world's largest oil exporter, brings uncertainty to the market, and numerous conflicts in the Middle East can lead to disruptions in oil supplies.
    Also, the rise in prices is fueled by the expectation that at the November meeting, OPEC will extend the deal. As you know, last year, OPEC and other oil exporters, including Russia, entered into an agreement to reduce total production by 1.8 million barrels a day. In Vienna on November 30, OPEC will hold a meeting, within which the extension of the agreement on the reduction of production, which expires in March 2018, will be discussed.
    Today, traders are waiting for data from the Energy Information Administration (EIA) of the US Department of Energy on oil reserves in the country. The weekly EIA report will be published at 15.30 (GMT).
    According to the American Petroleum Institute (API), which was published on Tuesday evening, US oil inventories fell 1.6 million barrels last week. Gasoline stocks increased by 520,000 barrels, and distillate stocks decreased by 3.1 million barrels, according to the API report.
    There is a strong positive impulse of a fundamental nature. The next target is resistance level 65.30 (Fibonacci level 100% correction to the decline from the level of 65.30 from June 2015 to the absolute minimums of 2016 near the mark of 27.00).
    Technical indicators (OsMA and Stochastic) on the daily, weekly, monthly charts are on the buyers’ side. Long positions are preferred.
    *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

    Trading Scenarios
    Sell Stop 62.90. Stop-Loss 63.90. Take-Profit 62.00, 61.50, 60.00, 58.80, 58.00, 57.00, 56.20, 55.55, 55.00, 54.70, 53.50, 52.20, 50.70, 50.00
    Buy Stop 63.90. Stop-Loss 62.90. Take-Profit 64.45, 65.00, 65.30, 66.00



    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

  7. #167
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    XAU/USD: demand for safe assets increased
    09/11/2017
    Current dynamics

    Mass arrests in Saudi Arabia, including members of the royal family, a missile attack on this country by Yemeni rebels, as well as the appearance of risks of slipping in the implementation of the plans of the presidential administration for tax reform, provoked purchase of gold as a safe haven.
    December gold futures on COMEX finished trading on Wednesday with an increase of 0.6%, at $ 1,283.70 per troy ounce.
    Reports in the press that the US Republican Party can make changes to its tax reform plan or postpone it for a year, provoked a decline in quotations of the dollar. Some economists believe that tax reform can spur the growth of the US economy and allow the Federal Reserve to raise interest rates at a faster pace. Expectations for raising rates tend to put pressure on gold, which can not compete with more profitable assets with rising borrowing costs.
    Under conditions of a soft monetary policy in the US and against the backdrop of geopolitical or economic uncertainty, the price of gold, as a rule, is growing.
    As a result, gold prices on Wednesday closed at 2-week highs, and with the opening of today's trading day quotes on it are rising again.
    So, the spot price for gold at the beginning of today's European session is near the mark of 1284.00 dollars per troy ounce.
    Of the news for today, we are waiting for publication at 13:30 (GMT) of weekly data on the labor market (number of applications for unemployment benefits) for the United States. According to the forecast, a slight increase in the indicator is expected - up to 231,000 versus 229,000 for the previous period. However, this figure remains below 300,000 for almost 140 consecutive weeks, which is the longest period since 1970. The consistently low level of applications for unemployment benefits is one of the signs of a strong US labor market.
    The stable state of the labor market in the US and the low level of unemployment (just above 4%) is a powerful argument for the Fed in considering the possibility of tightening monetary policy in the US. And this is a downward factor for the price of gold.
    According to the CME Group, the probability of a rate hike in December is taken into account by investors in about 97%.
    *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

    Support and resistance levels
    With the opening of today, the XAU/USD is growing, making an attempt to gain a foothold above the short-term resistance level at 1283.00 (EMA50 on the daily chart, EMA200 on the 4-hour chart). Through the mark of 1283.00 also passes the lower limit of the ascending channel on the weekly chart.
    If the price is fixed above the local resistance level of 1287.00 (weekly highs), risk of the returning XAU/USD to the upward channel on the weekly chart, the upper limit of which runs near the resistance level of 1370.00 (the beginning of the wave of decline since July 2016 and the Fibonacci level of 100%) grows.
    The reverse scenario involves a breakdown of the support level of 1277.00 (Fibonacci level 61.8% correction to the drop in the wave from July 2016 and EMA200 on the 1-hour chart) and a decline to support levels of 1267.00 (EMA200 on the daily chart), 1260.00 (EMA200 on the weekly chart).
    The breakdown of the support level of 1248.00 (the Fibonacci level of 50%) raises the risk of the XAU/USD returning to the downtrend.
    Indicators OsMA and Stochastics on the weekly, monthly charts went to the side of sellers.
    Support levels: 1277.00, 1273.00, 1267.00, 1260.00, 1248.00
    Resistance levels: 1283.00, 1287.00, 1290.00, 1305.00, 1312.00, 1340.00, 1350.00, 1357.00

    Trading Scenarios

    Sell Stop 1281.00. Stop-Loss 1286.00. Take-Profit 1277.00, 1273.00, 1267.00, 1260.00, 1248.00
    Buy Stop 1286.00. Stop-Loss 1281.00. Take-Profit 1290.00, 1305.00, 1312.00, 1340.00, 1350.00, 1357.00



    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

  8. #168
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    AUD/USD: RBA is in indecision
    10/11/2017
    Overview and dynamics

    After earlier in the week the leadership of the RBA again decided to leave the key rate at 1.5%, the Australian dollar remains under pressure. The rate remains at this level since August 2016, and the central bank will most likely leave it unchanged until mid-2018.
    The longer the RBA will remain idle, while many central banks raise interest rates, the stronger the Australian dollar will fall.
    Despite the fact that Australian economic data draws a contradictory picture, the RBA is confident in accelerating GDP growth over time. In the coming years, the central bank expects to accelerate the annual GDP growth to 3%, which is almost double the current rate. The Australian economy for the current year has created more than a million jobs, which led to a drop in unemployment. At the same time, indicators of conditions for doing business and business confidence have peaked in the last ten years.
    On the other hand, inflation data for the 3rd quarter were not particularly impressive. Core inflation, according to the RBA, will not reach the lower end of the target range of 2% -3% until mid-2019. Retail sales in the middle of the year fell sharply, and a slowdown in house prices could undermine consumer confidence.
    Thus, the Reserve Bank of Australia is in a difficult situation. It can not raise interest rates with weak inflation and high levels of consumer debt, but it can not reduce them because of fears of increasing risks of destabilizing the financial system.
    Many economists believe that the RBA will return to the issue of raising the interest rate in the country not earlier than mid-2019.
    And this, amid a large-scale strengthening of the US dollar due to the expectations of a phased tightening of monetary policy in the US, creates the conditions for further reduction of the AUD / USD pair.
    Support levels: 0.7650, 0.7600, 0.7570, 0.7500, 0.7460
    Resistance levels: 0.7720, 0.7755, 0.7800, 0.7850, 0.7885, 0.7980

    *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics


    Trading scenarios
    Sell in the market. Stop-Loss 0.7710. Take-Profit 0.7600, 0.7570, 0.7500, 0.7460
    Buy Stop 0.7710. Stop-Loss 0.7610. Take-Profit 0.7720, 0.7760, 0.7800, 0.7850, 0.7885, 0.7980



    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

  9. #169
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    Brent: Support and resistance levels
    13/11/2017


    There remains a strong positive impulse of a fundamental nature. If growth continues, the next target is resistance level 65.30 (Fibonacci level 100% correction to decline from the level of 65.30 from June 2015 to the absolute minimums of 2016 near the mark of 27.00).
    Technical indicators (OsMA and Stochastic) on the daily, weekly, monthly charts are still on the buyers side. Long positions are preferred.
    Consideration of short positions is possible after the return of the price under the support level of 62.35 (EMA200 on the 1-hour chart). The immediate goal is the support level of 59.30 (EMA200 on the 4-hour chart).
    And only if the price returns to the level of 55.00 (EMA200 on the weekly chart) will the risks of resuming the downtrend increase with targets at 54.00 (EMA200 on the daily chart), 50.70 (Fibonacci level 61.8%) 50.00 (lows in August), 48.75, 48.00 , 46.20 (Fibonacci 50%), 44.50 (lows of the year), 41.70 (the Fibonacci retracement level of 38.2% of the correction to the decline from the level of 65.30 since June 2015).
    Support levels: 62.90, 62.35, 62.00, 61.50, 60.00, 59.30, 58.80, 58.00, 57.00, 56.20, 55.55, 55.00, 54.70, 53.50, 52.20, 50.70, 50.00
    Resistance levels: 64.00, 64.45, 65.00, 65.30, 66.00

    *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics


    Trading scenarios
    Sell Stop 62.30. Stop-Loss 64.50. Take-Profit 62.00, 61.50, 60.00, 58.80, 58.00, 57.00, 56.20, 55.55, 55.00, 54.70, 53.50, 52.20, 50.70, 50.00
    Buy Stop 64.50. Stop-Loss 62.30. Take-Profit 65.00, 65.30, 66.00




    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

  10. #170
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    GBP/USD: inflation rate in the UK fell slightly
    14/11/2017
    Current dynamics

    After the data on inflation in the UK were released at the beginning of today's European session, the pound declined.
    According to the British Office of National Statistics, inflation in the UK in October was 3% (forecast was + 3.1%), which indicates the possible end of a sharp acceleration in price growth caused by the collapse of the British pound after last year's referendum on UK membership in the EU.
    Core inflation also failed to reach the forecast of 2.9%, amounting, as in September, 2.7%.
    Nevertheless, inflation is still much higher than the target level of the Bank of England, which is 2%. At the same time, prices are growing faster than a salary, which means that consumer spending will remain low-key.
    This is a negative factor for the pound and the country's economy, which focuses on domestic consumption.
    The pound continues to remain under pressure also against the backdrop of the crisis that is ripening in the UK government. As you know, several dozen members of the British Parliament favored the resignation of Prime Minister Theresa May. At the weekend, the Sunday Times reported that 40 parliamentarians agreed to sign a letter of no confidence in Theresa May. The Brexit talks resumed last week, and, according to EU officials, Britain's hopes for the progress of negotiations in December are weakening.
    Thus, the problems in the negotiations of the UK with the EU on Brexit, political uncertainty in the country, based on growing dissatisfaction with the activities of the Prime Minister of the UK, as well as the Bank of England's restrained attitude to the issue of further tightening of monetary policy (as is known earlier this month, the Bank of England decided to raise the key interest rate by 0.25% and planned two more rate hikes in the next two years) create a negative background for the pound. To this, it should be added that last week the European Commission lowered its forecast for GDP growth in the UK this year, including, due to a weak increase in investment in the UK economy against the background of Brexit.
    At the same time, the dollar is recovering today. As it became known, the administration of President Trump will not support the law on taxes, if it provides for a corporate tax rate of over 20%. This was announced the day before by US Treasury Secretary Stephen Mnuchin.
    *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics


    Support levels: 1.3065, 1.3020, 1.2975, 1.2590, 1.2365, 1.2110, 1.2000
    Resistance levels: 1.3100, 1.3137, 1.3175, 1.3210, 1.3300, 1.3335, 1.3440, 1.3500, 1.3630, 1.3760, 1.3970, 1.4100

    Trading Scenarios

    Sell in the market. Stop-Loss 1.3125. Take-Profit 1.3065, 1.3020, 1.2975, 1.2590, 1.2365, 1.2110, 1.2000
    Buy Stop 1.3125. Stop-Loss 1.3080. Take-Profit 1.3137, 1.3175, 1.3210, 1.3300, 1.3335, 1.3440, 1.3500, 1.3630, 1.3760, 1.3970, 1.4100



    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

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