Tag Archives: Forex forum

*ISM U.S. Non-Manufacturing Index Drops To 52.5 In March

ISM U.S. Non-Manufacturing Index Drops To 52.5 In March The material has been provided by InstaForex Company – www.instaforex.com…

April 3, 2020 : GBP/USD Intraday technical analysis and trade recommendations.

Since January 13, progressive bearish pressure has been built above the price level of 1.2780-1.2800 until March the 2nd when transient bearish consolidation below 1.2780 took place within the depicted wide-ranged slightly bearish channel.Shortly after, significant bullish rejection was demonstrated around 1.2780 on March 4. Hence, a quick bullish movement was expressed towards the price zone of 1.3165-1.3200 where significant bearish pressure brought the pair back below 1.2780, 1.2500 then 1.2260 via quick bearish engulfing H4 candlesticks.Recently, the GBPUSD has reached new LOW price levels around 1.1450, slightly below the historical low (1.1650) achieved in September 2016.Recently, the GBP/USD pair looked very OVERSOLD around the price levels of 1.1450 where a double-bottom reversal pattern was recently demonstrated.Technical outlook will probably remain bullish if bullish persistence is maintained above 1.1890-1.1900 (Double-Bottom Neckline) on the H4 Charts.Bullish breakout above 1.1900 (Latest Descending High) invalidated the bearish scenario temporarily & enabled a quick bullish movement to occur towards 1.2260.Next bullish targets around 1.2520 and 1.2680 were expected to be addressed if sufficient bullish momentum was maintained.However, early bearish pressure signs have originated around 1.2470 leading to another bearish decline towards 1.2265.That’s why, H4 Candlestick re-closure below 1.2265 is needed to hinder further bullish advancement…

EUR/USD: plan for the US session on April 3. Bears continue to control the market and follow the set course to the lows of

To open long positions on EURUSD, you need:
Another sale of the European currency after the publication of business activity indices for the services sector of the eurozone led the pair to the support of 1.0790. I paid attention to this in the morning forecast. The 5-minute chart clearly shows how the bulls try to form a false breakout, successfully making several bounces from this level, but each time they meet with larger sales. At the moment, the further movement of the euro down depends on the analysis of data on the labor market. It is unlikely that the bulls should expect the support of 1.0790, so it is best to return to long positions after updating the minimum of 1.0718, provided that a false breakout is formed there, or immediately to rebound from the annual support of 1.0626. In the scenario of the pair’s growth in the second half of the day after the data on the state of the US economy, the bulls will try to regain the resistance of 1.0880, which will push EUR/USD even higher, to the maximum of 1.0955, where I recommend fixing the profits.

To open short positions on EURUSD, you need:
Sellers continue to follow a clearly…

Trading plan for EUR/USD for April 03, 2020

Technical outlook:EUR/USD has dropped to 1.0782 lows today, and is seen to be trading around 1.0792 levels at this point in writing. Please note that the NFP figures are expected to be out in another 10 minutes and that might possibly trigger the rally that we have been waiting for in the EUR/USD pair. Technically, the single currency pair has dropped into the vicinity of fibonacci 0.618 support of the previous rally between 1.0636 and 1.1150 respectively. A bullish bounce remains high probability as long as prices stay above the 1.0636 support. Immediate resistance is seen around 1.0865, followed by 1.0975 respectively; and a push above those will be extremely encouraging for the bulls to continue further. Overall structure still remains bullish against 1.0636 levels and if this holds, EUR/USD should be staging a rally towards 1.1500 and 1.1900 levels in the next few weeks time. Trading point of view, it is good to remain long with risk at 1.0636 levels.Trading plan:Remain long, stop @ 1.0636 target above @1.1500Good luck!The material has been provided by InstaForex Company – www.instaforex.com…

BTC analysis for 04.03.2020 – Major pivot resistance at the price of $7.000 is on the test, potential for downside rotation

BTC news:With growing mobile money across the globe, Revolut has joined the list of growing bank challengers in the UK. The platform is offering an alternative to the central government-controlled fiat currency. With a fixed supply, Bitcoin is seen as the alternative to the fiat especially at a time when governments are printing more money through the quantitative easing program.Technical analysis: BTC has been trading upwards.The price tested and rejected of the very important pivot level at $7.000, which is sign that there is potential for downside rotation. The action around the critical level at $7.000 will be important fore the further direction.Yesterday’s daily close was well off the high, which is another sign that there is potential for the downside.MACD oscillator is still showing reading below the zero but the slow line is going upwards.Major resistance is set at $7.000 and the next one is at $7.630.My recommendation is to watch for selling opportunities around the critical pivot at $7.000.Potential targets can be set at $6.131, $5.180 and even $3.877The material has been provided by InstaForex Company – www.instaforex.com…

Fractal analysis of the main currency pairs for April 3

Forecast for April 3 :Analytical review of currency pairs on the scale of H1:For the euro / dollar pair, the key levels on the H1 scale are: 1.0978, 1.0916, 1.0876, 1.0791, 1.0761, 1.0704 and 1.0622. Here, we are following the development of the descending structure of March 27. The continuation of movement to the bottom is expected after the price passes the noise range 1.0791 – 1.0761. In this case, the target is 1.0704. Price consolidation is near this level. For the potential value for the bottom, we consider the level of 1.0622, upon reaching which, we expect a pullback to the top.Short-term upward movement is possibly in the range 1.0876 – 1.0916. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.0978. This level is a key support for the downward structure.The main trend is the descending structure of March 27Trading recommendations:Buy: 1.0876 Take profit: 1.0914Buy: 1.0918 Take profit: 1.0978Sell: 1.0760 Take profit: 1.0705Sell: 1.0702 Take profit: 1.0622For the pound / dollar pair, the key levels on the H1 scale are: 1.2879, 1.2654, 1.2550, 1.2315, 1.2216 and 1.2099. Here, we are following the development of the upward cycle of March 19. Short-term upward…

Australia Retail Sales Climb 0.5% In February

Retail sales in Australia rose a seasonally adjusted 0.5 percent on month in February, the Australian Bureau of Statistics said on Friday – coming in at A$27.755 billion. That beat expectations for an increase of 0.4 percent following the 0.3 percent decline in January. The following industries rose in seasonally adjusted terms in February 2020: Food retailing (0.8 percent), Department stores (3.1 percent), Household goods retailing (0.7 percent), Cafes, restaurants and takeaway food services (0.2 percent), and Other retailing (0.2 percent). Clothing, footwear and personal accessory retailing (-2.9 percent) fell in seasonally adjusted terms in February 2020. The following states and territories rose in seasonally adjusted terms in February 2020: Queensland (0.8 percent), Victoria (0.5 percent), Western Australia (1.2 percent), South Australia (0.4 percent), and the Australian Capital Territory (1.1 percent). Tasmania (0.0 percent) and New South Wales (0.0 percent) were relatively unchanged. The Northern Territory (-0.7 percent) fell in seasonally adjusted terms in February 2020. The material has been provided by InstaForex Company – www.instaforex.com…

Hong Kong PMI Inches Higher In March – IHS Markit

Hong Kong’s private sector economy continued to contract in March, albeit at a slightly slower pace, the latest survey from IHS Markit showed on Friday with a PMI score of 34.9. That’s up from 33.1 in February although it remains well beneath the boom-or-bust line of 50 that separates expansion from contraction. Individually, new orders and exports both continued to fall sharply last month. Delivery times lengthened at the fastest rate in survey history, while job shedding accelerated as backlogs fell at a record rate. The material has been provided by InstaForex Company – www.instaforex.com…

Australia Construction Index Slides In March – AiG

The construction sector in Australia continued to contract in March, and at a faster rate, the latest survey from the Australian Industry Group showed on Friday with a seasonally adjusted Performance of Construction Index score of 37.9. That’s down from 42.7 and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction. It also marks the lowest index reading since May 2013. Across the four construction, the house building sector indicated modest growth for a fourth consecutive month. Contractions in the apartment and commercial construction sectors were steeper, while the contraction in engineering construction activity eased slightly in March. The material has been provided by InstaForex Company – www.instaforex.com…