Tag Archives: most popular currency pairs

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…

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….

Gold 02.20.2020 – Overbought condition and resistance on the test at $1.617

Technical analysis:Gold has been trading upwards. The price tested the level of $1.618. I see resistance at the level of $1.617 (Upper diagonal of Pitchfork channel), which is indication that Gold is overbought zone and that buying looks risky at this stage.Watch for potential downside rotation if you see any topping pattern or bearish divergence on the lower time-frames. Downside objectives are set at the price of $1.604 and $1.593.Stochastic oscillator is showing overbought condition, which adds even more risk for buyers. Major resistances is set at the price of $1.617 Support levels are set at the price of $1.604 and $1.593The 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…

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…

Euro, pull yourself together!

The total weakening of the European currency is starting to seriously worry the market. It looks like a protracted disease that the euro cannot get rid of. Experts fear that with a prolonged fall in the euro, it will “slip through” all the chances for recovery that the market gives from time to time.
Currently, the single European currency continues to stomp within annual lows, and in relation to the US currency, it has fallen to three-year lows. An extremely weak data on the Eurozone business sentiment index from ZEW became an additional nail in the coffin for the euro. Recall that February of this year, the ZEW economic sentiment indicator for Germany rapidly fell to 8.7 points from 26.7 points recorded in January. Analysts also noted a deterioration in the assessment of the economic situation. By the beginning of this year, the German economy had disappointed the market. A negative reaction to an outbreak of coronavirus infection added fuel to the fire, due to the fact that it can drastically slow down global trade, which will put additional pressure on the euro.
According to reports on the eurozone economy, the current situation is not encouraging either, as the…

Forecast for EUR/USD on February 20, 2020

EUR/USD
The euro gained 13 points on Wednesday as part of a moderate expected correction after the previous three-figure fall. The growth could have been greater, but this was hindered by the fall of the British pound and the Japanese yen and the report on the eurozone balance of payments for December, which showed a balance of 32.6 billion euros against expectations of 34.5 billion. Data on the laying of new homes in the US for January showed a small decrease: 1.57 million against 1.63 million a month earlier, but the issued building permits increased from 1.42 million to 1.56 million, showing the highest figure since January 2007. Published minutes from the last FOMC Fed meeting showed nothing interesting.
On the daily chart, the signal line of the Marlin Oscillator is pointing upward, it is possible to continue the correction to the Fibonacci level of 161.8% at the price of 1.0840. The main objectives of declining 1.0745 and 1.0650/80 are maintained.
On the four-hour chart, the double convergence according to Marlin retains its potential effect, which may result in continued price growth, but the signal line of the oscillator stopped at the boundary with the territory of growth….

Forecast for GBP/USD on February 20, 2020

GBP/USD
The pound fell by 75 points yesterday, the price noted a low of December 23 and is now ready for further movement towards the previously identified goals at 1.2845 (110.0% Fibonacci level), 1.2758 (123.6%). The price on the daily chart is below the lines of balance and MACD, the Marlin oscillator is falling in the zone of negative values.
On the four-hour chart, the price has consolidated under the MACD line, Marlin is also in a stable falling position. We look forward to the pound declining further.
But today there may be a slight delay in the planned decline. In the afternoon, data on retail sales in the UK for January are released, the forecast for them is 0.7% versus -0.6% in December, the balance of production orders for the current month may also slightly improve – the forecast is -19 versus -22 in January. Technically, it will be consolidation in the range of February 10th.
The material has been provided by InstaForex Company – www.instaforex.com…

Australia Unemployment Data Due On Thursday

Australia will on Thursday release unemployment figures for January, highlighting a modest day for Asia-Pacific economic activity. The jobless rate is expected to come in at 5.2 percent, up from 5.1 percent in December. The Australian economy is tipped to add 10,000 jobs following the addition of 28,900 in the previous month. New Zealand will provide Q4 numbers for producer prices; in the previous three months, inputs were up 1.0 percent on quarter and outputs rose 0.9 percent on quarter. Japan will see final January figures for machine tool orders; the previous reading suggested a decline of 35.6 percent on year. Hong Kong will release consumer price data for January; in December, inflation was up 2.9 percent on year. The central bank in Indonesia will wrap up its monetary policy meeting and then announce its decision on interest rates. The bank is widely expected to keep its benchmark lending rate unchanged at 5.00 percent. The material has been provided by InstaForex Company – www.instaforex.com…