Tag Archives: currencies

February 20, 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 Yesterday when another bearish decline was expressed.As expected, The current bearish decline below 1.2980 is leading the GBPUSD pair towards the lower limit of the channel @ 1.2870 -1.2850 where price action should be watched.Intraday technical outlook is supposed to remain bearish as long as the pair maintains its movement below 1.2930 (Intraday Keylevel).Temporary bullish recovery around (1.2850-1.2870), followed by another bearish…

*UK Jan Retail Sales Ex-auto Fuel Up 1.6% M/M V. -0.8% In Dec, Consensus 0.8%

UK Jan Retail Sales Ex-auto Fuel Up 1.6% M/M V. -0.8% In Dec, Consensus 0.8% The material has been provided by InstaForex Company – www.instaforex.com…

EUR/USD for February 20,2020 – Broken downard well-defined channel, posibility for the bigger rally towards the 1.0860

Technical analysis:EUR/USD has been trading sideways at the price of 1.0790. I found that there is the breakout of the well defined downward channel in the background, which is sign that buyers are taking control over buyers and the rally is very possible.Rising black trend line – Possible pathDownside diagonals – Broken downward channelYellow rectangle – Support clusterWatch for buying opportunities with the main upward targets at the price of 1.0835 and 1.0858.MACD oscillator is showing 3-pushes down and bullish divergence, which is good confirmation for our long bias.Major support is set at the price of 1.0760 Resistance levels and upwardThe material has been provided by InstaForex Company – www.instaforex.com…

Chinese Yuan Slides To More Than 2-month Low Against U.S. Dollar

The Chinese yuan declined against the U.S. dollar in the Asian session on Thursday, as China reduced interest rates to prevent the adverse impact of the coronavirus outbreak. On Thursday, China cut the one-year loan prime rate or LPR by 10 basis points in order to lower financing costs for businesses. The five-year rate was reduced to 4.75 percent from 4.8 percent. The yuan fell to 7.0256 against the greenback, its lowest level since December 12. The next possible support for the yuan is seen around the 7.2 level. The People’s Bank of China set today’s central parity rate of the yuan at 7.0026 per dollar, compared to Wednesday’s rate of 7.0012. The Chinese central bank sets central parity rate every morning and allows the yuan to fluctuate up to 2 percent from that level. The material has been provided by InstaForex Company – www.instaforex.com…

NZD/USD approaching key support

Trading RecommendationEntry: 0.63452Reason for Entry: -61.8% Fibonacci retracementTake Profit : 0.63713Reason for Take Profit: Graphical overlapStop Loss: 0.63950Reason for Stop loss: 61.8% Fibonacci retracementThe material has been provided by InstaForex Company – www.instaforex.com…

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…

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….

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.