Indicator analysis. Daily review of EUR/USD on February 20, 2020

Trend analysis (Fig. 1).The market may continue to move down today with the target at 1.0783, the lower fractal (red dashed line). Breaking down the lower fractal is unlikely but work up is possible from the level of 1.0783.Fig. 1 (daily chart).Comprehensive analysis:- Indicator analysis – down;- Fibonacci levels – down;- Volumes – up;- Candlestick analysis – up;- Trend analysis – up;- Bollinger Lines – up;- Weekly schedule – up.General conclusion:A continued downward movement is expected today with the target of 1.0783, the lower fractal (red dashed line).An unlikely but possible scenario is from the lower fractal 1.0783 (red dashed line), a continued work down with the goal of 1.0664, the retracement level of 85.4% (yellow dashed line).The material has been provided by InstaForex Company – www.instaforex.com…

Australia January Unemployment Rate Rises To 5.3%

The jobless rate in Australia came in at a seasonally adjusted 5.3 percent in January, the Australian Bureau of Statistics said on Thursday. That exceeded expectations for 5.2 percent and was up from 5.1 percent in December. The Australian economy added 13.500 jobs last month to 12,995,400 people, again surpassing forecasts for a gain of 10,000 jobs following the gain of 28,900 jobs in the previous month. Full-time employment increased by 46,200 to 8,882,200 people and part-time employment decreased by 32,700 to 4,113,300 people. Unemployment increased by 31,000 to 725,900 people. The participation rate was 66.1 percent, exceeding expectations for 66.0 percent – which would have been unchanged from the month prior. Monthly hours worked in all jobs decreased by 8.1 million hours to 1,781.8 million hours. The monthly seasonally adjusted underemployment rate increased by 0.3 pts to 8.6 percent. The monthly underutilization rate increased by 0.5 pts to 13.9 percent. The material has been provided by InstaForex Company – www.instaforex.com…

Australia Jobless Rate Climbs To 5.3% In January

The unemployment rate in Australia came in at a seasonally adjusted 5.3 percent in January, the Australian Bureau of Statistics said on Thursday. That exceeded expectations for 5.2 percent and was up from 5.1 percent in December. The Australian economy added 13.500 jobs last month, again surpassing forecasts for a gain of 10,000 jobs following the gain of 28,900 jobs ion the previous month. The participation rate was 66.1 percent, exceeding expectations for 66.0 percent – which would have been unchanged from the month prior. The material has been provided by InstaForex Company – www.instaforex.com…

Forecast for EUR/USD on February 20, 2020

EUR/USD
The euro gained 13 points on Wednesday as part of a moderate expected correction after the previous three-figure fall. The growth could have been greater, but this was hindered by the fall of the British pound and the Japanese yen and the report on the eurozone balance of payments for December, which showed a balance of 32.6 billion euros against expectations of 34.5 billion. Data on the laying of new homes in the US for January showed a small decrease: 1.57 million against 1.63 million a month earlier, but the issued building permits increased from 1.42 million to 1.56 million, showing the highest figure since January 2007. Published minutes from the last FOMC Fed meeting showed nothing interesting.
On the daily chart, the signal line of the Marlin Oscillator is pointing upward, it is possible to continue the correction to the Fibonacci level of 161.8% at the price of 1.0840. The main objectives of declining 1.0745 and 1.0650/80 are maintained.
On the four-hour chart, the double convergence according to Marlin retains its potential effect, which may result in continued price growth, but the signal line of the oscillator stopped at the boundary with the territory of growth….

Forecast for GBP/USD on February 20, 2020

GBP/USD
The pound fell by 75 points yesterday, the price noted a low of December 23 and is now ready for further movement towards the previously identified goals at 1.2845 (110.0% Fibonacci level), 1.2758 (123.6%). The price on the daily chart is below the lines of balance and MACD, the Marlin oscillator is falling in the zone of negative values.
On the four-hour chart, the price has consolidated under the MACD line, Marlin is also in a stable falling position. We look forward to the pound declining further.
But today there may be a slight delay in the planned decline. In the afternoon, data on retail sales in the UK for January are released, the forecast for them is 0.7% versus -0.6% in December, the balance of production orders for the current month may also slightly improve – the forecast is -19 versus -22 in January. Technically, it will be consolidation in the range of February 10th.
The material has been provided by InstaForex Company – www.instaforex.com…

Australia Unemployment Data Due On Thursday

Australia will on Thursday release unemployment figures for January, highlighting a modest day for Asia-Pacific economic activity. The jobless rate is expected to come in at 5.2 percent, up from 5.1 percent in December. The Australian economy is tipped to add 10,000 jobs following the addition of 28,900 in the previous month. New Zealand will provide Q4 numbers for producer prices; in the previous three months, inputs were up 1.0 percent on quarter and outputs rose 0.9 percent on quarter. Japan will see final January figures for machine tool orders; the previous reading suggested a decline of 35.6 percent on year. Hong Kong will release consumer price data for January; in December, inflation was up 2.9 percent on year. The central bank in Indonesia will wrap up its monetary policy meeting and then announce its decision on interest rates. The bank is widely expected to keep its benchmark lending rate unchanged at 5.00 percent. The material has been provided by InstaForex Company – www.instaforex.com…

New Zealand Q4 Producer Prices Outputs Gain 0.4%

Producer price outputs in New Zealand were up 0.4 percent on quarter in the fourth quarter of 2019, Statistics New Zealand said on Thursday, slowing from the 1.0 percent gain in the previous three months. Producer price inputs were up 0.1 percent on quarter, slowing from 0.9 percent in the three months prior. On a yearly basis, outputs rise 1.4 percent and inputs were up 0.3 percent. Capital goods prices advanced 0.5 percent on quarter and 2.8 percent on year, while wage rates increased 0.7 percent on quarter and 2.6 percent on year. The material has been provided by InstaForex Company – www.instaforex.com…

Introduction to Social Trading/Copy Trading

Introduction to Social and Copy Trading by David Jones of Ayondo http://www.financial-spread-betting.com/ayondo-social-trading.html This video by David Jones is an introduction to social trading, how it works on the Ayondo platform and how to find good traders to follow. On Ayondo you can either trade yourself or follow other successful traders.