Tag Archives: DE30

Trading plan for May 29, 2020: EUR/USD – take profit!; Coronavirus updates from around the world.

Coronavirus updates from around the world, as of May 29: the second wave is on the decline, but a third is possible.In the US, the number of new cases jumped to 22 thousand, and the number of deaths arose to more than 1,000 per day. Regions recorded these increases, with New York contributing about 10% of the cases.A record-increase was also observed in Brazil, with new cases jumping to 24 thousand. Developed countries are suggested to help Brazil with doctors and funds.Meanwhile, India will be declared as the new center of the pandemic, if the situation in the country continues to deteriorate (if the growth of new cases accelerate even further).Although there is a decline in deaths around the world (deaths in the US have decreased), new cases are still at a high level (particularly in Brazil and India).In Russia, the situation in Moscow has improved, but the statistics in other regions seem to have increased. In total, Russia records 387 thousand coronavirus cases, of which 224 thousand are “active”.EUR/USD – take profit! Open buy positions from 1.0855. At the time of this writing, the quotes are at 1.1100, so wait for the pair to move about 245 pips before closing….

Trading recommendations for GBP/USD pair on May 29

From the point of view of complex analysis, you can see the V-shaped recovery, and now let’s talk about the details.
The trading week is coming to an end, it’s time to sum up the preliminary results, so the past days were extremely volatile. The quote initially developed the area of 1.2150/1.2180 and jumped up, updating the maximum of the past week [May 19-1.2294]. After that, against the background of inertia, the level of 1.2350 was reached, where it was developed very accurately in the downward direction and against the background of new inertia, the quote declined to the area of 1.2200.
At this stage, a V-shaped mirror formation was formed with incomplete development, where activity did not decline, but, on the contrary, increased, forming a positive V-shaped formation in 27 hours, thereby returning the quote all to the same level of 1.2350.
Such a rapid desire of buyers to pull the quote as far as possible is connected with the sale of the US dollar, which is felt throughout the market.
If we make a comparative analysis with the EUR/USD currency pair, we will see that the clock components are changing, but so far the GBP/USD pair is following…

*Australia Private Sector Credit Flat On Month, +3.6% On Year In April

Australia Private Sector Credit Flat On Month, +3.6% On Year In April The material has been provided by InstaForex Company – www.instaforex.com…

Japan Jobless Rate Climbs To 2.6% In April

The unemployment rate in Japan came in at a seasonally adjusted 2.6 percent in April, the Ministry of Internal Affairs and Communications said on Friday. That was beneath expectations for 2.7 percent but was up from 2.5 percent in March. The jobs to applicant ratio fell to 1.32, missing forecasts for 1.33 and down from 1.39 in the previous month. The number of employed persons in April was 66.28 million, a decrease of 800,000 from the previous year. The number of unemployed persons in April was 1.89 million, an increase of 130,000 from a year earlier. The material has been provided by InstaForex Company – www.instaforex.com…

Forecast for USD/JPY on May 29, 2020

USD/JPY
The US stock market (S&P 500) lost 0.21% on Thursday due to weak economic data: the volume of orders for durable goods fell by 17.2% in April, the second estimate of GDP for the first quarter was revised down from -4.8 % to -5.0% against an unchanged forecast (i.e. -4.8%). The Japanese Nikkei 225 index is down 0.65% today in the Asian session. The currency pair itself, following the stock market, turned down from the signal level of 107.78 yesterday and approached the support of the embedded price channel line (107.37) this morning, overcoming which will allow the price to fall to the MACD indicator line (107.12), then, in case it leaves the area under the MACD line, to the target level of 106.75.
The price has consolidated below the MACD line on the four-hour chart, the Marlin oscillator is in the negative zone. The probability of the bears’ success, that is, overcoming the support of 107.37 is 62-65%.
The material has been provided by InstaForex Company – www.instaforex.com…

NZD/USD holding above trendline support preparing for a bounce!

Trading RecommendationEntry: 0.61800Reason for Entry: Ascending trendline support, 61.8% Fibonacci retracementTake Profit : 0.62408Reason for Take Profit: 78.6% Fibonacci retracement, 61.8% Fibonacci extensionStop Loss: 0.61499Reason for Stop loss: Graphical swing low, 50% Fibonacci retracementThe material has been provided by InstaForex Company – www.instaforex.com…

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U.S. Pending Home Sales Plummet More Than Expected In April

Pending home sales in the U.S. plunged by more than expected in the month of April, the National Association of Realtors revealed in a report on Thursday. NAR said its pending home sales index plummeted by 21.8 percent to 69.0 in April after tumbling by 20.8 percent to 88.2 in March. Economists had expected pending home sales to slump by 15.0 percent. A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale. “With nearly all states under stay-at-home orders in April, it is no surprise to see the markedly reduced activity in signing contracts for home purchases,” said Lawrence Yun, NAR’s chief economist. The steep drop in pending home sales in April reflected the biggest decline since NAR begin tracking such transactions in January 2001. However, Yun expects April will be the lowest point for pending contracts and May, consequently, will be the lowest point for closed sales. “While coronavirus mitigation efforts have disrupted contract signings, the real estate industry is ‘hot’ in affordable price points with the wide prevalence of bidding wars for the limited inventory,” Yun said. He…