Tag Archives: charting tools

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…

*Latvia Jan Producer Prices Flat On Month

Latvia Jan Producer Prices Flat On Month The material has been provided by InstaForex Company – www.instaforex.com…

Japan Private Sector Shrinks Most In Nearly 5 Years

Japan’s private sector declined in February at the strongest pace since April 2014, driven by the contraction in services output, survey results from IHS Markit showed on Friday. The au Jibun Bank flash composite output index fell to 47.0 in February from 50.1 in January. A score below 50 indicates contraction in the sector. The services Purchasing Managers’ Index contracted to 46.7 in February from 51.0 in the previous month.The score was the lowest since April 2014. Total new sales fell for the first time since July 2016, mainly due to a slump in new business as the tourism sector was adversely hit by the coronavirus outbreak in China. The factory PMI declined to 47.6 in February from 48.8 in the preceding month. The latest reading was the worst since December 2012. The new orders sub-index fell sharply and those for output and employment also fell. “Latest PMI data dash any hopes of a first quarter recovery in Japan and significantly raise the prospect of a technical recession in the world’s third largest economy,” Joe Hayes, economist at IHS Markit, said. The material has been provided by InstaForex Company – www.instaforex.com…

Euro Higher Ahead Of Eurozone PMI

At 4.00 am ET Friday, IHS Markit publishes Eurozone flash composite PMI data. Ahead of the data, the euro advanced against its major rivals. The euro was worth 120.73 against the yen, 1.0614 against the franc, 0.8373 against the pound and 1.0815 against the greenback as of 3:55 am ET. The material has been provided by InstaForex Company – www.instaforex.com…

GBP/USD: plan for the US session on February 21. The pound continues to break the stereotypes of fundamental analysis. The

To open long positions on GBPUSD, you need:
If the British pound has been falling all week on the back of good fundamental data on the labor market and retail sales, then weak report on the services sector, on the contrary, returned buyers to the market. The breakthrough of the resistance of 1.2922, which I drew attention to in the morning review, allowed the bulls to build growth in the area of the resistance of 1.2967, which is now their first goal. Fixing above this level will lead to an update of the maximum of 1.3010, where I recommend fixing the profit. In the scenario of a decline in GBP/USD, the formation of a false breakdown at the support level of 1.2922 will signal the opening of new long positions, however, it is best to wait for the release of fundamental data on the American economy. In the event of a breakdown of the above support, I recommend considering new purchases of the pound only for a rebound from the minimum of 1.2884.
To open short positions on GBPUSD, you need:
The bears failed to push the pound below the support of 1.2884, and also failed to protect the resistance of 1.2922. The breakdown…

The euro saw a ray of light

Optimistic statements by ECB Vice-President Luis de Guindos noted that a strong labor market and low interest rates can support economic growth in the eurozone. The acceleration of European business activity from 51.3 to 51.6 in February became a kind of ray of light in the dark realm for fans of the euro and allowed EUR/USD to the base of the 8th figure. However, there are few reasons for the development of a full-fledged correction for the single European currency.
The release of data on German and European PMI rightfully claimed to be the key event of the week. The minutes of the January meetings of the Fed and the ECB failed to shake the confidence of the “bears” in the main currency pair. The Fed exuded optimism about the bright future of the US economy. The European Central Bank expressed doubt that a cease-fire in the trade war between Washington and Beijing will be able to lift the eurozone economy from its knees. In the end, most tariffs remain in effect, which negatively affects both international trade and global GDP.
Data on the business activity should show how the eurozone economy has adapted to the pernicious influence of the coronavirus. And at…

Trading recommendations for EUR USD pair on February 21

From a comprehensive analysis, we see a flat with variable boundaries of 1.0782/1.0820. Now, about the details. The downward movement that was set at the beginning of the year managed to lower the rate of the single currency by more than 440 points. Moreover, since the beginning of February, the movement has been inertial at all. Such vivid stability leads to overheating of short positions and the lack of proper corrections can disrupt that stability. The market is emerging from this difficult situation with the help of accumulations and variable flat, where a horizontal movement of 60 hours is currently observed, which is not a small fluctuation in terms of time weight.
Regarding the theory of downward development, we see a kind of synchronicity, where a fellow GBP/USD market has a similar development in itself with one exception – that it is just beginning the recovery process. While on the EURUSD pair, we are already storming the psychological ranges. It turns out that we have a positive correlation and there is a chance of an additional incentive when trading moves interact. Regarding the development of the euro/dollar pair, we are faced with a 50% range level 1.0700//1.0775//1.0850 and the existing…

USD/CAD reversing below resistance

Trading RecommendationEntry: 1.32656Reason for Entry: 78.6% Fibonacci retracement, Horizontal swing highTake Profit : 1.32245Reason for Take Profit: 78.6% Fibonacci retracement, 61.8% Fibonacci extensionStop Loss: 1.32847Reason for Stop loss: -27.2% Fibonacci retracementThe material has been provided by InstaForex Company – www.instaforex.com…

Japan All Industry Activity Stable In December

Japan’s all industry activity remained unchanged in December, figures from the Ministry of Economy, Trade and Industry showed on Friday. The all industry activity index remained unchanged month-on-month in December, after a 0.9 percent rise in November. Economists had expected a 0.3 percent rise. Among components, construction activity decline 2.0 percent monthly, following a 0.1 percent fall in November. The tertiary industry activity edged down 0.2 percent in December, after a 1.4 percent rise. Meanwhile, industrial production grew 1.2 percent in December, after a 1.0 percent decrease in the preceding month. On a yearly basis, the all industry activity index fell 1.4 percent in December, following a 2.8 percent decrease in the prior month. The material has been provided by InstaForex Company – www.instaforex.com…