Tag Archives: automated trading

Pound Spikes Up After Positive UK PMI Data

The pound firmed against its major counterparts in the European session on Friday, after U.K. manufacturing sector activity accelerated to its highest level since April last year in February, easing some of the fears over the economy. Survey results from IHS Markit and the Chartered Institute of Procurement & Supply showed that the manufacturing PMI rose to a 10-month high of 51.9 in February from 50.0 in January. Economists had forecast a score of 49.7. The flash composite output index remained unchanged at 53.3 in February. The reading was above the forecast of 52.8. The services Purchasing Managers’ Index dropped to 53.3 in February from 53.9 in January. The reading was forecast to rise by 53.4. Sentiment faded after a rapid rise in the number of coronavirus infections outside of China. China’s commerce ministry said January and February exports and imports will be hit by the epidemic that has severely disrupted the world’s second-largest economy. The pound strengthened to 2-day highs of 0.8343 against the euro and 1.2952 against the dollar, from its previous lows of 0.8381 and 1.2874, respectively. The pound is seen finding resistance around 0.82 against the euro and 1.31 against the dollar. The pound appreciated…

*Pound Climbs To 2-day High Of 1.2952 Against Dollar

Pound Climbs To 2-day High Of 1.2952 Against Dollar The material has been provided by InstaForex Company – www.instaforex.com…

February 21, 2020 : GBP/USD Intraday technical analysis and trade recommendations.

On December 13, the GBPUSD pair looked overpriced around the price levels of 1.3500 while exceeding the upper limit of the depicted bullish channel.On the period between December 18th – 23rd, bearish breakout below the depicted channel followed by temporary bearish closure below 1.3000 were demonstrated on the H4 chart.However, immediate bullish recovery (around 1.2900) brought the pair back above 1.3000.Bullish breakout above 1.3000 allowed the mentioned Intraday bullish pullback to pursue towards 1.3250 (the backside of the broken channel) where bearish rejection and a new wide-ranged movement channel were established between (1.3200-1.2980).Recently, new descending highs were demonstrated around 1.3200 and 1.3070.Recent Bearish breakdown below 1.2980 enhanced further bearish decline towards 1.2890 (the lower limit of the movement channe) where evident bullish rejection has been manifested on February 10.This week, temporary bullish breakout above 1.3000 has been expressed until Wednesday when another bearish decline below 1.3000 was expressed.As expected, the previous bearish decline below 1.2980 has lead the GBPUSD pair towards the lower limit of the channel @ 1.2870 -1.2850 where significant bullish recovery was recently demonstrated.The current bullish pullback will probably pursue towards the price zone of 1.2980-1.3000 where price action should be watched again.Intermediate-term technical outlook is supposed to…

Gold 02.21.2020 – Pitchfork Warning line 1 is on the test at $1.650, watch for potential selling divergence on 4H time-frame

Technical analysis Gold has been trading upwards. The price tested the level of $1.650. I projected Pitchfork warning lines 1 and 2 to find potential resistance for the gold. Warning line is set at the price of $1.651 and Warning line 2 at $1.680. I would watch for selling opportunities in case of the bearish divergence on the hourly or 4H time-frame or any topping pattern with the target at the price of $1.632. Anyway, in case of the bigger breakout of the $1.650, there is potential for test of WR2 at $1.680.MACD oscillator is showing increased momentum on the upside. Resistance levels are set at the price of $1.650 and $1.680. Support levels are set at the price of $1.632 and $1.611.The material has been provided by InstaForex Company – www.instaforex.com…

Ireland Wholesale Prices Fall In January

Ireland wholesale prices declined to the lowest in five months in January, data from the Central Statistics Office showed on Friday. The wholesale price index fell 4.3 percent year-on-year in January, following a 3.2 percent decline in December. The latest decline was the lowest since August, when it was 4.4 percent. On a monthly basis, wholesale sales fell 1.0 percent in January, after a 0.2 percent rise in the preceding month. Fell for the first time in thee months. The prices for export sales fell 1.0 percent monthly in January and those for home sales fell by 1.2 percent. The material has been provided by InstaForex Company – www.instaforex.com…

Poland Retail Sales Growth Slows In January

Poland’s retail sales growth slowed in January, figures from Statistics Poland showed on Friday. Retail sales rose 3.4 percent year-on-year in January, after a 6.9 percent increase in the same month last year. Textiles, clothing, footwear grew 10.5 percent annually in January and those of furniture, radio, TV and household appliances sales, and motor vehicles, motorcycles increased by 5.8 percent and 3.5 percent, respectively. Meanwhile, sales of newspapers, books, other sale in specialized stores declined 4.8 percent and those of food, beverages and tobacco fell 0.9 percent. On a monthly basis, retail sales declined 20.6 percent in January. The material has been provided by InstaForex Company – www.instaforex.com…

Gold Surges To 7-year High As Virus Spreads

Gold prices rose sharply on Friday to hit their highest level in seven years as worries about the coronavirus spreading beyond China dented investors’ appetite for riskier assets. In a note for G20 finance ministers and central bankers, the International Monetary Fund warned that the outbreak was a stark reminder of how unforeseen events could threaten a fragile recovery. Spot gold climbed 0.9 percent to $1,633.68 per ounce, while U.S. gold futures were up 1 percent at $1,636.90. China reported an uptick in new coronavirus cases, raising fresh concerns over the global growth outlook. The National Health Commission reported a total of 75,465 confirmed cases and 2,236 deaths on the mainland by the end of Thursday. The government reported 1,109 new confirmed cases of the disease during the same period, sharply up from 349 cases the previous day, reversing three days of decline. While the number of deaths is higher than the previous day, the rate of new infections has declined, raising hopes that Beijing’s epidemic control efforts were working. China’s commerce ministry said January and February exports and imports will be hit by the epidemic that has severely disrupted the world’s second-largest economy. Elsewhere, South Korea declared a…