Tag Archives: the trend is your firend

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…

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Mastering the Currency Market: Forex Strategies for High and Low Volatility Markets

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EUR/USD. Panic returns: China statistics scandal and new Covid-19 outbreak

The dollar is strengthening throughout the market despite the unthinkable increase in the number of applications for unemployment benefits in the US. The dollar index again exceeded the 100-point mark, reflecting increased demand. The focus of traders’ attention is still on the news flow regarding the spread of the coronavirus. However, today market participants looked at this problem from a slightly different angle, taking into account the resonant publication of Bloomberg. Although the information released is not official (in fact, it is just unconfirmed rumors), the panic in the financial markets has increased again. The key beneficiary of this situation was the US dollar – concerned investors returned to the greenback, creating a stir around this currency.
US press recently released information that the official Chinese data on the number of infected and died as a result of the coronavirus pandemic are falsified. According to reporters from Bloomberg, this conclusion is contained in a secret report by US intelligence, which was presented to the White House. However, the sources of journalists did not provide any additional information about this report. But at the same time, they clarified that China significantly underestimated the statistics on infected and dead.
It is…

*U.S. Dollar Appreciates To 8-day High Of 1.0841 Versus Euro

U.S. Dollar Appreciates To 8-day High Of 1.0841 Versus Euro The material has been provided by InstaForex Company – www.instaforex.com…