Tag Archives: forex trend

GBP/USD: plan for the US session on April 3. Bears are counting on a major flight of the pound down. The support of 1.2315

To open long positions on GBPUSD, you need:Bears managed to gain a foothold below the support of 1.2315 in the first half of the day after very poor data on activity in the UK services sector. This is clearly visible on the 5-minute chart. However, the continuation of the downward trend in the pound will depend on data on the state of the US labor market. In the second half of the day, the bulls urgently need to return a pair back to the level of 1.2315, since only in this scenario will it be possible to maintain the advantage. If the decline continues in GBP / USD, it is best to return to long positions only after the support test of 1.2150 or to rebound from the larger minimum of 1.1985, in the expectation of correction of 60-70 within the day. A breakout and consolidation above 1.2315 will push purchases to the maximum area of 1.2473, where I recommend fixing the profits.To open short positions on GBPUSD, you need:The bears coped with the weekly task and broke below the support of 1.2315 from the 5th time. Sellers of the pound in the second half of the day need to achieve…

Singapore Retail Sales Decrease In February

Singapore retail sales decline at the fastest pace in February, data from the Department of Statistics showed on Friday. Retail sales declined 8.6 percent year-on-year in February, following a 5.3 percent fall in January. Motor vehicle sales rose 1.3 percent annually in February, following a 33.6 percent fall in the previous month. Excluding motor vehicles, retail sales decreased 10.2 percent in February, after a 0.6 percent increase in the preceding month. Sales of wearing apparel and footwear declined the most by 41.0 percent in February and those of food and alcohol, and department stores decreased 40.5 percent and 36.3 percent, respectively. On a monthly basis, retail sales dropped 8.9 percent in February, after a 0.2 percent rise in the prior month. The material has been provided by InstaForex Company – www.instaforex.com…

EUR/USD. April 3. 1 million cases of COVID-2019 virus in the world. The euro is preparing for a new fall. The trader is waiting

EUR/USD – 1H.

Hello, traders! According to the hourly chart, everything goes according to plan. The new downward trend line clearly indicates the “bearish” mood of most traders. Thus, it will be possible to sell the pair until the quotes close above this very trend line. In general, the EUR/USD pair continues the process of falling on April 3. News coming from various parts of the world remains disappointing. The COVID-2019 virus continues to spread, and today the official number of infected people around the world has exceeded 1,000,000. Most of the sick citizens are in America, but this does not make any negative impression on the American currency. Also yesterday, traders were very happy to miss the important economic report from the US on unemployment…
EUR/USD – 4H.

On the 4-hour chart, the EUR/USD pair performed a rebound from the corrective level of 38.2% (1.0964) and a reversal in favor of the US dollar with the resumption of falling quotes. As a result, at the moment, traders have worked out the Fibo level of 23.6% (1.0840) and now either there will be a rebound from this level or closure under it. In the first case, a reversal will be made in favor of…

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…

Technical Analysis of GBP/USD for 03/04/2020:

Technical Market Outlook:Not much has changed since yesterday as GBP/USD pair is still hovering just below the 61% Fibonacci retracement located at the level of 1.2516 despite the overbought market conditions. The bulls were rejected from that level and the price went down towards the nearest technical support located at the level of 1.2308. Since then, the market is trading slowly in a narrow horizontal range. There is still no indication of a local up trend reversal and the momentum is still strong and positive. The next technical support is seen at the level of 1.2199, so there is a room for bears. Please notice, that the larger time frame trend remains down and all the moves up will be treated as a local counter-trend corrections during the down trend.Weekly Pivot Points:WR3 – 1.3952WR2 – 1.3223WR1 – 1.2933Weekly Pivot – 1.2180WS1 – 1.1877WS2 – 1.1101WS3 – 1.0804Trading Recommendations:The fear of the coronavirus consequences is very strong among the global investors and it rules on the financial markets. On the GBP/USD pair the main trend is down, but the reversal is possible when the coronavirus pandemic will be tamed. The key long-term technical support has been recently violated (1.1983) and the new…

Simple Forex Tester

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Comprehensive analysis of movement options of #USDX vs EUR / GBP & GBP / JPY & EUR / JPY (DAILY) on April 03, 2020

Let’s pay attention to the situation with the dollar index and the options for the development of the movement of the main cross-instruments #USDX vs EUR/GBP & GBP/JPY & EUR/JPY (DAILY) on April 03, 2020.Minor operational scale (daily time frame)____________________US dollar indexStarting April 3, 2020, the movement of the USD index index #USDX will continue to develop within the equilibrium zone (98.85 – 99.91 – 101.15) of the Minor operational scale. The details of working out the above levels are presented in the animated chart. In case of breakdown of the upper boundary ISL61.8 (resistance level of 101.15) of the equilibrium zone of the Minor operational scale forks, the upward movement of the dollar index will become possible to goals:- ultimate Schiff Line Minor (101.80);- Starting line SSL Minuette (102.15);- maximum 102.98.On the contrary, in case of breakdown of the lower boundary of the ISL38.2 (support level of 98.85) equilibrium zone of the Minor operational scale forks, it will be confirmed that further development of the #USDX movement will proceed in the equilibrium zone (98.85 – 97.770 – 96.50) of the Minuette operational scale forks with the prospect of reaching the SSL initial line (95.20) of the Minor operational scale forks.The…

*U.S. Dollar Rises To 1-week High Of 0.9730 Against Franc

U.S. Dollar Rises To 1-week High Of 0.9730 Against Franc The material has been provided by InstaForex Company – www.instaforex.com…