InvestMacro

By George Prior

Calling witnesses – including former national security adviser John Bolton – to President Trump’s impeachment trial is likely to cause short-term volatility in financial markets.

This is the warning from Tom Elliott, International Investment Strategist at deVere Group, one of the world’s largest independent financial advisory and services organizations.

It comes as the impeachment trial reaches a critical stage, with seemingly growing support to have witnesses called to the Senate.

Mr Elliott comments: “It was assumed that Trump’s impeachment trial would be done and dusted this week.

“However, in light of revelations from former national security adviser John Bolton’s draft book manuscript that Trump confirmed to him U.S. security support to Ukraine was based on the condition of investigations into political opponents, the conclusion and timings are now less certain due to the increasing calls for witnesses.

“At least two Republican senators are indicating that they are in favor of wanting to hear from witnesses, including Bolton.”

He continues: “Financial markets don’t want a drawn-out impeachment trial. They want certainty, especially as investors are already nervous because of the Coronavirus outbreak.

“Some sectors are more at risk of a longer impeachment trial – and damage to President Trump – than others.

“Sectors that would suffer from regulation by Democrats, notably pharma, energy and banks want him to win again.”

Mr Elliott concludes: “Four Republican senators need to agree to call Bolton.

“If they do, they are likely to demand the Bidens – both father and son – appear also. This will make the impeachment trial much longer.  The longer the process, the more volatility will occur in global financial markets.

“Expect banks, pharma and energy to lead this market volatility if Bolton is called by the Senate.”

About:

deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.10188
• Open: 1.10222
• % chg. over the last day: +0.02
• Day’s range: 1.10113 – 1.10276
• 52 wk range: 1.0879 – 1.1572

The EUR/USD currency pair is in sideways movement. There is no defined trend. At the moment local support and resistance levels are at 1.10000 and 1.10350, respectively. Today the Fed will announce its decision on the key interest rate. Financial markets participants expect the regulator to keep the main parameters of monetary policy at the same level. We recommend you to pay attention to comments and rhetoric of the Central Bank representatives. Open positions from key levels.

The Economic News Feed for 29.01.2020:

• – Unfinished sales index in the US real estate market – 17:00 (GMT+2:00);
• – US Federal Reserve interest rate decision – 21:00 (GMT+2:00).

Indicators do not give accurate signals: the price has crossed 50 MA.

MACD histogram is near the 0 mark.

The stochastic oscillator is located in the oversold area, the %K line has crossed the %D line. No signals at the moment.

Trading recommendations

• Support levels: 1.10000, 1.09700
• Resistance levels: 1.10350, 1.10600, 1.10750

If the price fixes below 1.10000, expect a further decline toward 1.09700-1.09400.

Alternatively, the quotes could recover toward 1.10700-1.10900.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.30588
• Open: 1.30271
• % chg. over the last day: -0.24
• Day’s range: 1.30152 – 1.30287
• 52 wk range: 1.1959 – 1.3516

The technical picture on the GBP/USD currency pair is ambiguous. At the moment the sterling is consolidating. Local support and resistance levels are acting: 1.30000 and 1.30350, respectively. Investors are waiting for additional drivers. Today the key event will be the Fed meeting. We recommend opening positions from key levels.

The Economic News Feed for 29.01.2020 is calm.

The price is fixed below 50 MA and 100 MA, which signals the strength of the sellers.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates a bullish mood.

Trading recommendations

• Support levels: 1.30000, 1.29650
• Resistance levels: 1.30350, 1.30650, 1.31000

If the price fixes below 1.30000, GBP/USD quotes are expected to fall further toward 1.29650-1.29400.

Alternatively, the quotes could grow toward 1.30700-1.31000.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.31939
• Open: 1.31550
• % chg. over the last day: -0.24
• Day’s range: 1.31537 – 1.31653
• 52 wk range: 1.2949 – 1.3566

Yesterday USD/CAD quotes retreated from local highs. Currently, the CAD is consolidating in the range of 1.31450-1.31750. The trading instrument has potential for further correction after the prolonged rally. Today, investors’ attention is focused on the Fed meeting. Additional support for the Canadian dollar is provided by the oil quotes recovery. Positions should be opened from key levels.

The Economic News Feed for 29.01.2020 is calm.

Indicators do not give accurate signals: the price has crossed 50 MA and 100 MA.

MACD has crossed into the negative zone, which indicates the development of bearish sentiments.

The Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which gives a signal to buy USD/CAD.

Trading recommendations

• Support levels: 1.31450, 1.31200, 1.30900.
• Resistance levels: 1.31750, 1.32000, 1.32300.

If the price fixes below 1.31450, expect further correction toward 1.31000-1.30800.

Alternatively, the quotes could grow toward 1.32000-1.32300.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 108.889
• Open: 109.120
• % chg. over the last day: +0.23
• Day’s range: 109.035 – 109.263
• 52 wk range: 104.45 – 113.53

USD/JPY currency pair is in a flat. The technical pattern is ambiguous. At the moment the local support and resistance levels can be distinguished at 108.900 and 109.250. In the nearest future, a correction of USD/JPY quotes after a prolonged decline is not excluded. We expect the Fed to decide on the key interest rate. We also recommend you to pay attention to the US government bond yield dynamics. Open positions from key levels.

The Economic News Feed for 29.01.2020 is calm.

Indicators do not give accurate signals: the price has crossed 50 MA and 100 MA.

The MACD histogram is in the positive zone but below the signal line, which gives a weak signal to buy USD/JPY.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a bearish mood.

Trading recommendations

• Support levels: 108.900, 108.750, 108.400
• Resistance levels: 109.250, 109.650, 109.800

If the price fixes above 109.250, expect the quotes to correct toward 109.500-109.750.

Alternatively, the quotes could fall toward 108.700-108.400.

by JustForex

by JustForex

The US dollar did not change a lot against the basket of major currencies during yesterday’s trading session. The dollar index (#DX) closed in the green zone (+0.02%). On Wednesday, the Hong Kong government announced that it would limit transportation from the continent to prevent further spread of the virus. Meanwhile, the United States and Great Britain have advised their residents to avoid all trips to China.

Today, the European Parliament should ratify the agreement on Britain’s exit from the EU. Negotiations between the union and the UK on future relations should begin on March 3. Until this moment, Brussels and London will plan discussions, and determine the range of problems for discussion. Immediately after the UK officially leaves the EU, a transitional period will begin, which should end on December 31, 2020. Until that moment, Britain will remain in the European Customs Union and a single market. However, at the same time, the UK will lose membership in the European Parliament and the European Commission.

The “black gold” prices have been growing. Currently, futures for the WTI crude oil are testing the $54.05 mark per barrel. At 17:30 (GMT+2:00), US crude oil inventories will be published.

Market Indicators

Yesterday, there was the bullish sentiment in the US stock market: #SPY (+1.05%), #DIA (+0.68%), #QQQ (+1.54%).

The 10-year US government bonds increased. At the moment, the indicator is at the level of 1.62-1.63%.

• – Pending home sales in the US at 17:00 (GMT+2:00);
• – Fed interest rate decision at 21:00 (GMT+2:00).

by JustForex

By Admiral Markets

Source: Economic Events January 29, 2020 – Admiral Markets’ Forex Calendar

Gold has seen increasing demand against the region around 1,555 USD, approaching the 2019 yearly highs. The main driver was the latest news and developments on an outbreak of a new virus in China (Coronavirus) which currently sees a bigger impact on world financial markets and the risk tendency among market participants.

While the main question is whether these risk-off tendencies last (based on a 2017 paper, economists calculated that the expected annual losses from pandemic risk could amount to ‘only’ about $500 billion (ca. 0.6% of global income) per year), Gold still finds other, bullish drivers.

While today’s Fed rate decision shouldn’t deliver anything new and we don’t expect much from it, in fact, see a re-formulation of the status quo, any changes of the current forward guidance in regards to the recent funding pressures in the Repo market will be more dovish and thus positive for the precious metal.

Technically, we favour further gains in Gold, too. As long as we trade above 1,440/450 USD the potential next target on the upside can be found in the region around 1,650/700 USD.

And then there is also a noteworthy bullish seasonality.

Last week on Friday, Gold entered a bullish seasonal window, which lasts until February 4.

In more detail, the seasonal bullish pattern developed over the last 20 years with Gold seeing an average gain of 23.50 USD for 15 of the past 20 years.

In the remaining five years, it dropped on average only 11.73 USD, while the maximum loss of the pattern was 23.90 USD and the maximum drawdown being 26.05 USD, adding to the advantageous outlook for Gold bulls:

Source: Admiral Markets MT5 with MT5-SE Add-on Gold Daily chart (between October 17, 2018, to January 28, 2020). Accessed: January 28, 2020, at 10:00pm GMT – Please note: Past performance is not a reliable indicator of future results, or future performance.

In 2015, the value of Gold fell by 10.4%, in 2016 it increased by 8.1%, in 2017 it increased by 13.1%, in 2018, it fell by 1.6%, in 2019, it increased by 18.9%, meaning that after five years, it was up by 28%.

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1. This is a marketing communication. The analysis is published for informative purposes only and are in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
2. Any investment decision is made by each client alone whereas Admiral Markets shall not be responsible for any loss or damage arising from any such decision, whether or not based on the Analysis.
3. Each of the Analysis is prepared by an independent analyst (Jens Klatt, Professional Trader and Analyst, hereinafter “Author”) based on the Author’s personal estimations.
4. To ensure that the interests of the clients would be protected and objectivity of the Analysis would not be damaged Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
5. Whilst every reasonable effort is taken to ensure that all sources of the Analysis are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis. The presented figures refer that refer to any past performance is not a reliable indicator of future results.
6. The contents of the Analysis should not be construed as an express or implied promise, guarantee or implication by Admiral Markets that the client shall profit from the strategies therein or that losses in connection therewith may or shall be limited.
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By Admiral Markets

By Alpari.com

By Alpari.com

Article By RoboForex.com

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the pair is no longer trading inside the ascending channel. Right now, EURUSD has completed several reversal candlestick patterns, such as Harami. We may assume that later the price may reverse and form a slight correction, which may be followed by a further decline to reach the support level at 1.0992. However, one shouldn’t exclude a possibility that the price may form a more serious correction and reach 1.1075.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY has fallen from the ascending channel’s upside border while reversing after forming Shooting Star pattern. At the moment, the price is moving near the channel’s downside border, where it earlier formed several reversal patterns, such as Hammer. The current situation implies that the pair may reverse and resume growing to reach 109.65. At the same time, the pair may choose another scenario, according to which it is expected to continue falling towards 108.45.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6760; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6820 and then resume moving downwards to reach 0.6665. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6905. In this case, the pair may continue growing towards 0.7005.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6548; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6565 and then resume moving downwards to reach 0.6445. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6635. In this case, the pair may continue growing towards 0.6705.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3180; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3115 and then resume moving upwards to reach 1.3315. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.3065. In this case, the pair may continue falling towards 1.2995.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

The US dollar strengthened against a basket of major currencies during yesterday’s trading session. The dollar index (#DX) closed in the green zone (+0.10%). Coronavirus in China is still in the spotlight. The number of dead from disease has already exceeded 106, with the first fatal case recorded in Beijing. The US warned citizens from traveling to China. Financial markets continue to decline due to concerns about the effects of the virus.

The safe yen is being traded near a three-week high against the US dollar as investors turned to the safe-haven currencies amid rising risks. Asia was at the center of the coronavirus epidemic, so the Australian and New Zealand dollars showed the worst trading results. Investors expect a meeting of key central banks to be held this week.

The “black gold” prices have become stable after a continuous fall. At the moment, futures for the WTI crude oil are testing the $52.90 mark per barrel.

Market Indicators

Yesterday, there were aggressive sales in the US stock market: #SPY (-1.60%), #DIA (-1.53%), #QQQ (-2.07%).

The 10-year US government bonds yield fell again. At the moment, the indicator is at the level of 1.58-1.59%.

• – Durable goods orders in the US at 15:30 (GMT+2:00);
• – Consumer confidence index in the US at 17:00 (GMT+2:00).

by JustForex

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.10298
• Open: 1.10188
• % chg. over the last day: -0.05
• Day’s range: 1.10163 – 1.10252
• 52 wk range: 1.0879 – 1.1572

The EUR/USD currency pair continues to consolidate after a prolonged decline. There is no defined trend. Currently, the following local support and resistance levels can be distinguished: 1.10100 and 1.10400, respectively. Financial markets participants took a waiting position before the Fed meeting, which is scheduled for January 29. Technical correction of EUR/USD quotes is not excluded in the nearest future. Open positions from key levels.

The Economic News Feed for 28.01.2020:

• – Durable Goods Purchases (US) – 15:30 (GMT+2:00);
• – Consumer Confidence Index (US) – 17:00 (GMT+2:00);

Indicators do not give accurate signals: the price tests 50 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.

The Stochastic Oscillator is in the neutral zone, the %K line crosses the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.10100, 1.09800
• Resistance levels: 1.10400, 1.10600, 1.10750

If the price fixes below 1.10100, expect a decline toward 1.09800-1.9600.

Alternatively, the quotes could recover toward 1.10600-1.10800.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.30646
• Open: 1.30588
• % chg. over the last day: -0.04.
• Day’s range: 1.30331 – 1.30651
• 52 wk range: 1.1959 – 1.3516

Bearish sentiment prevails on GBP/USD currency pair. Sterling has updated the local lows. At the moment GBP/USD quotes are testing the support level at 1.30300. The mark 1.30650 is the nearest resistance. The trading instrument has a potential for further decline. Today we recommend you to pay attention to the US news background. Open positions from key levels.

The publication of important statistics on the UK economy is not planned.

Indicators point to the strength of sellers: the price has fixed below 50 MA and 100 MA.

MACD histogram is in the negative zone and continues to decline, which gives a strong signal to sell GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a bearish mood.

Trading recommendations

• Support levels: 1.30300, 1.30000, 1.29700
• Resistance levels: 1.30650, 1.31000, 1.31450

If the price fixes below 1.30300, expect movement toward 1.30000-1.29800.

Alternatively, the quotes could grow toward 1.30900-1.31100.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.31501
• Open: 1.31939
• % chg. over the last day: +0.20
• Day’s range: 1.31800 – 1.31943
• 52 wk range: 1.2949 – 1.3566

The USD/CAD currency pair continues to show positive dynamics. The trading instrument has overcome and strengthened above the key extremums. At the moment, the CAD is consolidating. Local support and resistance levels are acting: 1.31700 and 1.32000, respectively. The technical picture signals further growth of USD/CAD quotes. We recommend you to pay attention to the dynamics of “black gold” prices. Open positions from key levels.

The Economic News Feed for 28.01.2020 is calm.

The indicators signal the strength of buyers: the price has fixed above 50 MA and 100 MA.

MACD histogram is in the positive zone, which gives a signal to buy USD/CAD.

The Stochastic Oscillator is located near the oversold area, the %K line crosses the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.31700, 1.31400, 1.31200
• Resistance levels: 1.32000, 1.32300, 1.32500

If the price fixes above 1.32000, expect movement toward 1.32300-1.32500.

Alternatively, the quotes could descend toward 1.31400-1.31200.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 108.928
• Open: 108.889
• % chg. over the last day: -0.02
• Day’s range: 108.819 – 109.099
• 52 wk range: 104.45 – 113.53

The USD/JPY has stabilized after a long slump. At the moment the trading instrument is consolidating. USD/CAD quotes are testing local support and resistance levels: 108.750 and 109.100, respectively. Technical correction is not ruled out in the nearest future. We also recommend you to pay attention to the economic reports, as well as the dynamics of US government bonds yield. Open positions from key levels.

The Economic News Feed for 28.01.2020 is calm.

Indicators do not give accurate signals: the price is testing 50 MA.

The MACD histogram began to rise, which indicates a possible correction of the USD/JPY currency pair.

The Stochastic Oscillator is located in the overbought zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 108.750, 108.400
• Resistance levels: 109.100, 109.300, 109.650

If the price fixes below 108.750, the quotes should descend toward 108.500-108.300.

Alternatively, the quotes could grow toward 109.300-109.600.

by JustForex

By TheTechnicalTraders.com

Platinum has setup into a longer-term FLAG formation and has recently broken the APEX of this FLAG.  The long term potential for Platinum, in conjunction with the advance in Rhodium, Palladium, Gold, and Silver, is a new Bullish Price Trend.

Our researchers believe Platinum must move above $1200 for this new Bullish trend to anchor a “Breakout Base” formation.  The current investment environment suggests a new metals rally is setting up.  Fear is starting to take hold of the markets and industrial and manufacturing demands are still driving prices and supply demands higher and higher.  As investors pile into the metals as a form of safety, we expect Platinum to rally above $1200 within the next 4 to 6+ months and begin a much broader rally to levels above $1600 overtime.

Demand for Platinum has increased because of two main reasons:

1) Rapid increase in consumption in SE Asia
2) Increase in acceptance of fuel cells.

As we learn more about the industrial and manufacturing demands for Platinum. It becomes evident that a new upside bias in trend may just be getting started.

Traders need to understand and consider the opportunities presented by this incredible longer-term setup in Platinum.   Could platinum DOUBLE in price within 12 months?  Could it TRIPLE?

Follow our research to stay ahead of this incredible opportunity for skilled technical traders and learn how we can help you find great trades.

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Join my Wealth Building Newsletter if you like what you read here and ride my coattails as I navigate these financial markets and build wealth while others lose nearly everything they own.

Chris Vermeulen
TheTechnicalTraders.com

NOTICE: Our free research does not constitute a trade recommendation or solicitation for our readers to take any action regarding this research.  It is provided for educational purposes only.  Our research team produces these research articles to share information with our followers/readers in an effort to try to keep you well informed.  Visit our web site to learn how to take advantage of our members-only research and trading signals.