Tag Archives: AUD Australian Dollar

*U.S. Crude Oil Inventories Edge Up By 400,000 Barrels In Week Ended 2/14

U.S. Crude Oil Inventories Edge Up By 400,000 Barrels In Week Ended 2/14 The material has been provided by InstaForex Company – www.instaforex.com…

February 20, 2020 : EUR/USD Intraday technical analysis and trade recommendations.

On December 30, a bearish ABC reversal pattern was initiated around 1.1235 (Previous Key-zone) just before another bearish movement could take place towards 1.1100 (In the meanwhile, the EURUSD pair was losing much of its bearish momentum).One more bullish pullback was executed towards 1.1175 where the depicted key-zone as well as the recently-broken uptrend were located. That’s why, quick bearish decline was executed towards 1.1100 then 1.1035 which failed to provide enough bullish SUPPORT for the EURUSD pair.Further bearish decline took place towards 1.1000 where the pair looked quite oversold around the lower limit of the depicted bearish channel where significant bullish rejection was able to push the pair back towards the nearest SUPPLY levels around 1.1080-1.1100 (confluence of supply levels (including the upper limit of the channel).Since then, the pair has been down-trending within the depicted bearish channel until last week when bearish decline went further below 1.0950 and 1.0910 (Fibonacci Expansion levels 78.6% and 100%) establishing a new low around 1.0790.Currently, the EUR/USD pair looks quite oversold after such a long bearish decline and if bullish recovery is expressed above 1.0845-1.0860, further bullish advancement would be expected towards 1.0910 then 1.0950.Intraday traders are advised to look for signs of…

GBP/USD: plan for the US session on February 20. The pound goes against all the rules. A good report on retail sales led

To open long positions on GBPUSD, you need:
Major sellers of the pound acted exactly according to yesterday’s scenario and taking advantage of good news on the volume of retail sales in the UK today. They drop the GBP/USD pair to another monthly low. A small rebound up to 1.2930 served only as a good level for opening new short positions. At the moment, the bears rested on the support of 1.2851, around which trade is conducted. Several tests have only led to a small upward correction of the pair. So an important task for buyers in the second half of the day will be to return the resistance to 1.2884, which will lead to a more powerful upward momentum in the area of 1.2922 and 1.2967, where I recommend fixing the profits. In the scenario of a support breakout of 1.2851, it is best to return to long positions on the rebound from the lows of 1.2830 and 1.2799.
To open short positions on GBPUSD, you need:
The bears continued to push the pound down. Major players took advantage of the good news on the UK and retail sales, which allowed them to quickly gain large positions on the background of speculators’ purchases,…

Germany Producer Prices Rise Unexpectedly

Germany’s producer prices rose unexpectedly in January, data from Destatis showed on Thursday. The producer price index rose 0.2 percent year-on-year in January, reversing a 0.2 percent decrease seen in December. Economists had expected a 0.4 percent fall. Among the components, prices for non-durable consumer goods grew 3.6 percent annually in January and those of durable consumer goods and capital goods rose by 1.4 percent and 1.3 percent, respectively. Meanwhile, prices for intermediate goods and energy declined by 1.5 percent and 1.0 percent, respectively. On a monthly basis, producer prices increased 0.8 percent in January, following a 0.1 percent rise in the previous month. Economists had expected prices to remain unchanged. The material has been provided by InstaForex Company – www.instaforex.com…

Trading recommendations for EURUSD pair on February 20

From a comprehensive analysis, we see another slowdown in the area of lows, where downward interest is still a priority. Now, about the details. A steady bearish interest is striking in its stability, where a move of more than 440 points has been formed since the beginning of the year. This value hides not just a movement but the structure of the global trend. So the theory of downward development is now in the center of everyone’s attention since the euro updates local minimums almost on a daily basis. Psychological ranges (1.0700/1.0850; 1.0500/1.0700; 1.0000//1.0350//1.0500) increase the interest of speculators, however, they are alarming since there may be a stop with a reverse surge at any moment. If we consider the theory in terms of the medium-term course, it is too early to worry since the main flow of emotions will come during price fluctuations in the range of 1.0000//1.0350//1.0500 where without the support of the information background, speculators will not get along.
In terms of volatility, we see a sharp slowdown of 35% relative to the average daily indicator and the regularity of past periods has shown that such significant stops bring new bursts of activity.
Analyzing the past day…

Markets gone mad

Good afternoon, dear traders!
I think I will not surprise anyone if I say that at a very interesting time we live and trade. Recently, the market has changed a lot, and this, in my opinion, is connected with the economic crisis, which, in my opinion, is already underway. The trigger was the Chinese epidemic of coronavirus. This virus, in addition to casualties, brought incredible fear, which pushed gold to distance.
But the most affected are the currencies. Everything falls – the EUR/USD, GBP/USD, AUD/USD, and absolutely ignoring the positive news on base currencies.
EUR/USD has been falling recoilless already on the 14th day as part of a common two-year fall! Look at the stories – when did this happen and at what events? The last time this happened is in 2018, and before that during the crisis in 2014.
You, of course, say that everything is bad in the eurozone! Let’s look further.
GBP/USD completely ignores the positive news in the country’s economy.
AUD/USD plummets to good employment, breaking through the lows of 2018 and 2019: The “fear indicator”, gold, is at its highest point in the last 7 or 8 years, completely ignoring…

Euro, pull yourself together!

The total weakening of the European currency is starting to seriously worry the market. It looks like a protracted disease that the euro cannot get rid of. Experts fear that with a prolonged fall in the euro, it will “slip through” all the chances for recovery that the market gives from time to time.
Currently, the single European currency continues to stomp within annual lows, and in relation to the US currency, it has fallen to three-year lows. An extremely weak data on the Eurozone business sentiment index from ZEW became an additional nail in the coffin for the euro. Recall that February of this year, the ZEW economic sentiment indicator for Germany rapidly fell to 8.7 points from 26.7 points recorded in January. Analysts also noted a deterioration in the assessment of the economic situation. By the beginning of this year, the German economy had disappointed the market. A negative reaction to an outbreak of coronavirus infection added fuel to the fire, due to the fact that it can drastically slow down global trade, which will put additional pressure on the euro.
According to reports on the eurozone economy, the current situation is not encouraging either, as the…

Trading plan for EUR/USD and GBP/USD on 02/20/2020

Honestly, what is happening on the market surprises more and more. The pound completely ignores its own statistics, but reacts extremely violently to the American currency. And in theory, the single European currency also had to decline under the influence of American statistics. However, it stood still, as if nothing had happened. Thus, it cannot be said that the market definitely pays attention only to American statistics.At the same time, inflation data in the UK turned out to be incredibly good, as it increased from 1.3% to 1.8% instead of the forecast of 1.4%. Indeed, such a sharp increase in inflation clearly indicates that the Bank of England will not lower the refinancing rate for at least the first half of the year. And inflation itself is a factor favorable for the currency market. Nevertheless, investors did not seem to see this data.Inflation (UK):The market behaved exactly the same way at the time of publication of data on construction in Europe, the volume of which decreased by 3.7%. That is, after the news that instead of growth by 1.2%, construction is generally declining, investors behaved in the most usual way – nothing, as if this data was not there.Scope of construction…

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…

Best Social Trading Platform in 2018: Ayondo

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