Tag Archives: US30

*U.S. Crude Oil Inventories Edge Up By 400,000 Barrels In Week Ended 2/14

U.S. Crude Oil Inventories Edge Up By 400,000 Barrels In Week Ended 2/14 The material has been provided by InstaForex Company – www.instaforex.com…

February 20, 2020 : GBP/USD Intraday technical analysis and trade recommendations.

On December 13, the GBPUSD pair looked overpriced around the price levels of 1.3500 while exceeding the upper limit of the depicted bullish channel.On the period between December 18th – 23rd, bearish breakout below the depicted channel followed by temporary bearish closure below 1.3000 were demonstrated on the H4 chart.However, immediate bullish recovery (around 1.2900) brought the pair back above 1.3000.Bullish breakout above 1.3000 allowed the mentioned Intraday bullish pullback to pursue towards 1.3250 (the backside of the broken channel) where bearish rejection and a new wide-ranged movement channel were established between (1.3200-1.2980).Recently, new descending highs were demonstrated around 1.3200 and 1.3070.Recent Bearish breakdown below 1.2980 enhanced further bearish decline towards 1.2890 (the lower limit of the movement channe) where evident bullish rejection has been manifested on February 10.This week, Temporary bullish breakout above 1.3000 has been expressed until Yesterday when another bearish decline was expressed.As expected, The current bearish decline below 1.2980 is leading the GBPUSD pair towards the lower limit of the channel @ 1.2870 -1.2850 where price action should be watched.Intraday technical outlook is supposed to remain bearish as long as the pair maintains its movement below 1.2930 (Intraday Keylevel).Temporary bullish recovery around (1.2850-1.2870), followed by another bearish…

EUR/USD: plan for the US session on February 20. The euro continues to stagnate around annual lows. The sellers’ target remains

To open long positions on EURUSD, you need:
Data on German producer prices helped keep the euro at this year’s lows, forming a false breakdown from the support area of 1.0785, which also led to the formation of a divergence on the MACD indicator. This is a bullish signal, however, given the current position of the European currency, it is not necessary to count on strong upward momentum. In the scenario of a breakthrough and a decline below the level of 1.0785 in the afternoon, it is best to return to long positions after the area of 1.0765 is updated or immediately to a rebound from the larger low of 1.0740. An equally important task for the bulls will be to break through and consolidate above the resistance of 1.0825, from which a good upward correction will be formed in the area of the highs of 1.0860 and 1.0886, where I recommend taking the profits.
To open short positions on EURUSD, you need:
The bears continue to bend their line, however, they have not managed to break below the support of 1.0785 for the third day in a row, which may lead to a sharp rebound of the pair up. Apparently, the sellers are…

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….

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…

Trading recommendations for EURUSD pair on February 20

From a comprehensive analysis, we see another slowdown in the area of lows, where downward interest is still a priority. Now, about the details. A steady bearish interest is striking in its stability, where a move of more than 440 points has been formed since the beginning of the year. This value hides not just a movement but the structure of the global trend. So the theory of downward development is now in the center of everyone’s attention since the euro updates local minimums almost on a daily basis. Psychological ranges (1.0700/1.0850; 1.0500/1.0700; 1.0000//1.0350//1.0500) increase the interest of speculators, however, they are alarming since there may be a stop with a reverse surge at any moment. If we consider the theory in terms of the medium-term course, it is too early to worry since the main flow of emotions will come during price fluctuations in the range of 1.0000//1.0350//1.0500 where without the support of the information background, speculators will not get along.
In terms of volatility, we see a sharp slowdown of 35% relative to the average daily indicator and the regularity of past periods has shown that such significant stops bring new bursts of activity.
Analyzing the past day…

Dutch Consumer Confidence Decline Slows In February

Dutch consumer confidence decline slowed in February, data from the Central Bureau of Statistics showed on Thursday. The consumer confidence index rose to minus 2 in February from minus 3 in January. A similar reading was seen in December. Nonetheless, the consumer confidence index has remained above the 20-year average of minus 5 points. The economic climate sub-index rose to minus 5 in February from minus 7 in the previous month and the indicator for willingness to buy increased to 1. Households’ assessment regarding their financial situation for the next 12 months improved. However, consumers felt that it is favorable to make large purchases. Another report from the statistical office showed that household spending growth increased in December with higher purchases of home furnishing, electrical appliances, and cars. Consumer spending grew 2.9 percent annually in December, after a 1.4 percent increase in November. This was the highest since July 2018, when it was 3.0 percent. 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…