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Analysis for Gold 04.03.2020 – Watch for the potential breakout of the channel to confirm downside. Gold is at the major

Corona virus news:China seeks to lead amid talk of 10m potential global casesResidents of Wuhan, the Chinese city where the Covid-19 pandemic began, have been told to stay indoors and remain vigilant ahead of an easing of travel restrictions. Meanwhile, Beijing is stepping up a media campaign in the west to frame its handling of the disease as an example of global leadership. The country’s Covid-19 statistics have been called into question, but on Thursday China recorded just 31 new cases, 29 of them in people arriving from other countries.Technical analysis: Gold has been trading upwards.The price tested and rejected of the very important pivot level at $1.619, which is sign that there is potential for downside rotation.I found the upward channel that is active and the eventual breakout to the downside may confirm further drop towards the levels at $1.566 and $1.515. Selling opportunities will be preferable in case of the downside break.If you see the breakout of $1.620 level, watch for buying opportunities on the dips with the target at $1.643. Stochastic oscillator is showing overbought condition and potential for the downside movement.Intraday resistance level is set at the price of $1.619Support levels and downward targets are set at…

Analysis of AUD/USD on April 3, 2020

Hello, dear traders!
It’s time to consider the AUD/USD currency pair, the technical picture of which is quite interesting. But more on that later.
The Reserve Bank of Australia (RBA), along with other leading global central banks, announced the introduction of temporary swaps in the US currency in order to increase liquidity. In addition, the RBA together with the Australian government decided to allocate about 100 billion Australian dollars to support the Australian economy.
Let’s look at the technical picture for the AUD/USD currency pair, and since this tool is analyzed once a week, let’s start with the corresponding timeframe.
Weekly

After falling to the level of 0.5510, the pair began to adjust from the previous fairly strong and prolonged decline. Attempts to continue to recover losses in the current five-day trading failed at the level of 0.6215, from where the pair again turned in the south direction.
In fairness, it should be noted that the results of weekly trading will be determined by data on the US labor market, which will be published at 13:30 (London time). Economists’ forecasts are very pessimistic, and if the actual numbers turn out to be even worse than expected, the US currency risks falling under a wave of sales.
The current…

Instaforex Daily Analysis – 3rd April 2020

Today we take a look at Gold and see how we are going to play the bounce!We use Fibonacci retracements, extensions, support/resistance, momentum and trend lines to identify trading opportunities in this exciting pair today!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…

*Australia Performance Of Construction Index 37.9 In March – AiG

Australia Performance Of Construction Index 37.9 In March – AiG The material has been provided by InstaForex Company – www.instaforex.com…

✔✔Gold eToro Leverage Example 2018

To Open Your Account Etoro (200$ Bonus) Click Here : https://bit.ly/2FhoDkA If you have any questions, leave me a comment below, I will be glad to help. I hope you liked this tutorial! Since the deregulation of the forex trading industry in 1997, there has been a massive proliferation of internet based spot forex brokers. While this scenario… Read More »

Oil Futures End Sharply Higher On Optimism About Output Cuts

Crude oil prices skyrocketed on Thursday amid hopes the price war between Saudi Arabia and Russia would end soon. Reports about China building up crude inventories, and possible reduction in U.S. crude production following a major U.S. energy exploration and production firm filing for bankruptcy, contributed as well to the sharp rise in oil prices. U.S. President Donald Trump tweeted later in the day that he expects a sharp 15 million barrels output cut from Russia and Saudi Arabia. West Texas Intermediate Crude oil futures for May ended up $5.01, or about 25%, at $25.32 a barrel. Prices rose to as high as $27.39 a barrel in the session. Brent Crude futures moved up $5.20, or about 21%, to $29.94 a barrel. On Wednesday, WTI crude oil futures ended down $0.17, or about 0.8%, at $20.31 a barrel. According to latest reports, Saudi officials have said the kingdom is willing to consider massive oil-supply curbs if other nations too joined the effort. Saudi Arabia is reportedly seeking an emergency meeting that would include the Organization of the Petroleum Exporting Countries (OPEC), Russia and other nations. The material has been provided by InstaForex Company – www.instaforex.com…

Gold Futures Snap 4-day Losing Streak, End Sharply Higher

Gold futures snap 4-day losing streak, end sharply higher Gold prices surged higher on Thursday, snapping a four-day losing streak, despite a stronger dollar. Mounting signs of a deep recession due to rapidly surging coronavirus infections, and data showing a big jump in unemployment claims for a second successive week due to the coronavirus outbreak triggered safe-haven buying in the commodity. The dollar index rose to 100.37 this afternoon, gaining about 0.65%. Gold futures for June ended up $46.30, or about 2.9%, at $1,637.70 an ounce, slightly off the day’s high of $1,641.00. On Wednesday, gold futures ended down $5.20, or about 0.3%, at $1,591.40 an ounce. Silver futures for May ended up $0.670 at $14.654 an ounce, while Copper futures for May settled higher by $0.0440 at $2.2185 per pound. In economic news, data from the Labor Department said initial jobless claims skyrocketed to 6.648 million, an increase of 3.341 million from the previous week’s revised level of 3.307 million. With another record-breaking increase, the number of seasonally adjusted initial claims reached the highest level in the history of the seasonally adjusted series. In the past two weeks, nearly 10 million people have filed for unemployment, which economists…

*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…

Fitch Sees Deep Global Recession In 2020

As coronavirus crisis escalates, Fitch Ratings expects a deep global recession this year, with the fall in 2020 GDP on par with the global financial crisis. According to the latest update of its Global Economic Outlook, released Thursday, world economic activity will decline 1.9 percent in 2020. In March, the agency had forecast global growth of over 1 percent. The rating agency expects US GDP to fall by 3.3 percent, the euro area by 4.2 percent and the UK to drop 3.9 percent this year. China’s recovery from the disruption in the first quarter of 2020 will be sharply curtailed by the global recession and annual growth will be below 2 percent, Fitch noted. The rating agency observed that the lockdown policies implemented to control the spread of the coronavirus affected daily economic activity dramatically. The impact on GDP will depend on how long the lockdowns last. “The forecast fall in global GDP for the year as a whole is on a par with the global financial crisis but the immediate hit to activity and jobs in the first half of this year will be worse”, said Brian Coulton, Fitch’s chief economist. “Our baseline forecast does not see GDP…