Tag Archives: Japanese Yen

U.S. Weekly Jobless Claims Show Modest Increase

A report released by the Labor Department on Thursday showed a modest increase in first-time claims for U.S. unemployment benefits in the week ended February 15th. The Labor Department said initial jobless claims crept up to 210,000, an increase of 4,000 from the previous week’s revised level of 206,000 Economists had expected jobless claims to inch up to 210,000 from the 205,000 originally reported for the previous week. Meanwhile, the report said the less volatile four-week moving average edged down to 209,000, a decrease of 3,250 from the previous week’s revised average of 212,250. The Labor Department also said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, rose by 25,000 to 1.726 million in the week ended February 8th. The four-week moving average of continuing claims still dipped to 1,722,250, a decrease of 5,250 from the previous week’s revised average of 1,727,500. The material has been provided by InstaForex Company – www.instaforex.com…

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,…

Germany Producer Prices Rise Unexpectedly

Germany’s producer prices rose unexpectedly in January, data from Destatis showed on Thursday. The producer price index rose 0.2 percent year-on-year in January, reversing a 0.2 percent decrease seen in December. Economists had expected a 0.4 percent fall. Among the components, prices for non-durable consumer goods grew 3.6 percent annually in January and those of durable consumer goods and capital goods rose by 1.4 percent and 1.3 percent, respectively. Meanwhile, prices for intermediate goods and energy declined by 1.5 percent and 1.0 percent, respectively. On a monthly basis, producer prices increased 0.8 percent in January, following a 0.1 percent rise in the previous month. Economists had expected prices to remain unchanged. The material has been provided by InstaForex Company – www.instaforex.com…

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….

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…

NZD/USD approaching key support

Trading RecommendationEntry: 0.63452Reason for Entry: -61.8% Fibonacci retracementTake Profit : 0.63713Reason for Take Profit: Graphical overlapStop Loss: 0.63950Reason for Stop loss: 61.8% Fibonacci retracementThe material has been provided by InstaForex Company – www.instaforex.com…

Trading plan for EUR/USD and GBP/USD on 02/20/2020

Honestly, what is happening on the market surprises more and more. The pound completely ignores its own statistics, but reacts extremely violently to the American currency. And in theory, the single European currency also had to decline under the influence of American statistics. However, it stood still, as if nothing had happened. Thus, it cannot be said that the market definitely pays attention only to American statistics.At the same time, inflation data in the UK turned out to be incredibly good, as it increased from 1.3% to 1.8% instead of the forecast of 1.4%. Indeed, such a sharp increase in inflation clearly indicates that the Bank of England will not lower the refinancing rate for at least the first half of the year. And inflation itself is a factor favorable for the currency market. Nevertheless, investors did not seem to see this data.Inflation (UK):The market behaved exactly the same way at the time of publication of data on construction in Europe, the volume of which decreased by 3.7%. That is, after the news that instead of growth by 1.2%, construction is generally declining, investors behaved in the most usual way – nothing, as if this data was not there.Scope of construction…

Indicator analysis. Daily review of EUR/USD on February 20, 2020

Trend analysis (Fig. 1).The market may continue to move down today with the target at 1.0783, the lower fractal (red dashed line). Breaking down the lower fractal is unlikely but work up is possible from the level of 1.0783.Fig. 1 (daily chart).Comprehensive analysis:- Indicator analysis – down;- Fibonacci levels – down;- Volumes – up;- Candlestick analysis – up;- Trend analysis – up;- Bollinger Lines – up;- Weekly schedule – up.General conclusion:A continued downward movement is expected today with the target of 1.0783, the lower fractal (red dashed line).An unlikely but possible scenario is from the lower fractal 1.0783 (red dashed line), a continued work down with the goal of 1.0664, the retracement level of 85.4% (yellow dashed line).The material has been provided by InstaForex Company – www.instaforex.com…