Tag Archives: forex currency trading

*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…

*U.S. Leading Economic Index Climbs 0.8% In January

U.S. Leading Economic Index Climbs 0.8% In January The material has been provided by InstaForex Company – www.instaforex.com…

UK Retail Sales Rebound In January

UK retail sales rose for the first time in three months in January and at a faster than expected pace, led by a strong demand for clothing and footwear and food. The volume of retail sales including auto fuel rose 0.9 percent month-on-month, which was greater than the 0.7 percent gain economists had expected. In November and December, retail sales fell 0.8 percent and 0.5 percent, respectively. The latest increase was the biggest since March last year, when sales grew 1.1 percent. Excluding auto fuel, retail sales grew for the first time in six months, up 1.6 percent from the previous month, when it dropped 0.8 percent. Economists had forecast a 0.8 percent increase. The growth was the biggest since May 2018, when sales rose 2.2 percent. Sales of food grew 1.7 percent, while fuel sales slumped 5.7 percent, thanks to an increase in fuel prices. Non-food sales increased 1.3 percent, largely led by a 3.9 percent increase in stores selling textiles, clothing and footwear, which was the biggest gain since May 2018. Year-on-year, retail sales including auto fuel grew 0.8 percent in January after a 0.9 percent increase in December. Economists had forecast a 0.6 percent increase. Without auto…

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,…

BTC analysis for 02.20.2020 – Crash on the BTC as we expected, our both downwarrd targets are met but potential for even

Industry news:Brendan Blumer, the CEO of Block.one – the publisher of EOS, has said that Bitcoin isn’t money and that it never will be. However, he believes that it’s the “next generation of gold.” His tweets came as a response to Peter Schiff, who once again bashed Bitcoin.Blumer has been consistent in his views of Bitcoin. He has previously said that it shares core values with gold, as well as supply integrity. Moreover, he also believes that “anyone egregiously attacking one in favor of the other is undermining both, while highlighting their own insecurities in regards to their chose favorite.”Indeed, many people have compared Bitcoin to Gold in the past. One of them was the Chairman of the US Federal Reserve, Jerome Powell. He said that Bitcoin is “a store of value; it’s a speculative store of value, like gold.”Technical analysis:BTC has been trading downwards as I expected. Both my targets at $9.828 and $9.614 have been reached but there is still room for further downside. Watch for selling opportunities on the rallies with the next main target at the price of $9.060.Watch for potential downside rotation if you see bear continuation pattern like bear flag on hourly or 4H time-frame….

*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…

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…

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…

*Australia Jobless Rate 5.3% In January; 13,500 Jobs Added

Australia Jobless Rate 5.3% In January; 13,500 Jobs Added The material has been provided by InstaForex Company – www.instaforex.com…