Author Archive for InvestMacro – Page 172

Ichimoku Cloud Analysis 10.09.2019 (AUDUSD, NZDUSD, USDCAD)

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6853; 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 0.6810 and then resume moving upwards to reach 0.7015. 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 0.6745. In this case, the pair may continue falling towards 0.6655.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6426; 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 0.6380 and then resume moving upwards to reach 0.6575. 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 0.6315. In this case, the pair may continue falling towards 0.6235. After breaking the descending channel’s upside border and fixing above 0.6475, the price may continue moving upwards.

NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3175; 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 1.3205 and then resume moving downwards to reach 1.3020. 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 1.3285. In this case, the pair may continue growing towards 1.3355.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.

Business conditions and confidence decreased severely in Australia

By ForexNewsNow

According to a new study from the National Australian Bank, the business confidence and conditions have drastically fallen in Australian is Q2 of 2019, with the remnants of the issues spilling well over in Q3.

On a more detailed level, it needs to be said that the Business Confidence Index dropped from 4 to 1 in August, while the Business Condition index dropped from 3 to 1. Naturally, this is an astounding loss in terms of future capabilities of remaining profitable, or in the worst-case scenario, surviving a major global recession.

The reasons can also be associated with the slight downfall of the AUD against the USD in 2019.

To be more exact, AUD started at $0.69 at the start of the year, after which it managed to reach a peak of $0.72 in the first quarter, but failed to maintain balance and bounced right back down to $0.69 at the moment of writing this article.

Although it may seem like an insignificant decrease, let’s not forget that AUD is one of the major currencies of the world, therefore even a single cent lost to volatility is a great hit to the economy.

The NAB further states that in terms of conditions, confidence and overall profitability the mining industry seems to be the most stable one out of all that Australia can muster.

However, recent studies also show that Australia’s already large gaming industry is showing no signs of stopping its growth pattern and continues to expand well beyond its borders.

A representative from Playamo AU, a local gaming operator mentioned:

“It was obvious that Q2 of 2019 was little less than a disaster. The revenue was down, the currency was depreciating and the overall operations were at risk. But this was just by looking at the paper and not doing too much research.

Once we saw the decline in revenue, it almost felt like a 50% hit to overall performance, but luckily, we have offshore operations as well.

Thanks to those offshore operations, where we are usually paid in USD or EUR, we managed to compensate for the relatively small losses or no gains in the Australian market.

However, we still believe that the gaming market here has much more potential, as long as the government doesn’t interfere too much”.

What could be derived from these facts?

One of the most important takeaways from the explanation of the Playamo representative could be the additional hostility the Australian government could start seeing towards the gaming industry.

Almost every government’s ideal economic plan is a diversified economy, where consumer spending is really divided into both private and state sectors. Having so many funds concentrated in just one industry, to a point where companies had only slight issues with revenue is already an alarming revelation.

Naturally, the funds spent on these platforms are going to return to the government via corporate tax, but in a sense, they will be sacrificing almost all the other retail sectors.

It is quite possible that this study by NAB, will lead to new guidelines and corrections in the country’s fiscal and monetary policies, to somehow get the economy back on track.

Although it is always best to let the economy sort itself out, a slight push or direction can do wonders for the whole process.

By ForexNewsNow

 

Japanese Candlesticks Analysis 10.09.2019 (EURUSD, USDJPY)

Article By RoboForex.com

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, after completing Hammer pattern and rebounding from the descending channel’s downside border, EURUSD has formed several reversal patterns at the horizontal resistance level, including Shooting Star. Later, the price may finish the correction and fall to reach 1.1093, thus continuing forming the descending channel. However, one shouldn’t exclude a possibility that the price may continue growing towards 1.1100.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, the pair is moving downwards. USDJPY has formed Shooting Star reversal pattern close to the channel’s upside border. Right now, it is trying to reverse. Judging by the previous movements, it may be assumed that after finishing the correction the price may continue growing to reach 107.77 and then rebound towards 106.12 to continue forming the descending channel.

USDJPY

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.

Investors need to avoid complacency, despite improving market sentiment

By George Prior

Global financial markets are feeling more confident, but investors must avoid complacency, warns a leading analyst at one of the world’s largest independent financial advisory organisations.

The warning from Tom Elliott, deVere Group’s International Investment Strategist, comes following calming economic data and the announcement of further U.S. – China trade talks next month.

Mr Elliott comments: “There is some reassuring economic data from the U.S., namely the August non-manufacturing ISM index of business confidence.

“Investors are conscious that the current U.S. economic cycle is the longest on record and many are looking for issues that might induce a recession. Some analysts point to falls in U.S. second quarter corporate earnings and capital spending as a potential trigger, others place greater emphasis on the risk to the U.S and the global economy of the U.S – China trade dispute.”

Furthermore, Mr Elliott says the pound’s volatility is set to continue as the risk of a no-deal Brexit has diminished.

He states: “Prime Minister Boris Johnson’s authority has weakened, and it appears likely he will be forced to seek an extension to Article 50 beyond 31st October.

“The currency’s recent volatility, with several days of swings against the dollar of over 1 per cent in late August and early September, looks set to persist.

deVere’s International Investment Strategist goes on to say: “While some ultra-bearish analysts suggest the pound could fall to $1.00 on a no-deal Brexit, others suggest a floor of around $1.09.

“But we might also see a strong rally in sterling if the anti-Brexit Conservative rebels and opposition parties continue with their recent successes in confounding Johnson’s Brexit plan. A return to levels around $1.50 may be possible if the UK eventually abandons Brexit, given the likely surge of investment and pent-up spending that would boost economic growth.”

Mr Elliott adds: “Boris Johnson’s attempt to stop Parliament passing a law preventing a no-deal Brexit, through proroguing Parliament, has failed. So too has his attempt to have a general election this side of 31st October, on the binary choice of ‘support my no-deal Brexit or have Jeremy Corbyn for Prime Minister’.

“Meanwhile his attempts to strike a new deal are regarded by many as a sleight of hand, with no new proposals made to solve the Irish backstop issue that will meet the EU’s minimum requirements.

“Indeed, the government’s chief negotiator in Brussels has reportedly demanded a revision not only to the Irish backstop provision that Theresa May agreed to, but is also demanding the right for the UK to have its own regulatory standards for goods – which would make a future trade deal with the U.S. easier to do, but make one with the EU harder.”

deVere’s Investment Strategist continues: “The PM looks set to lead the Conservatives into a general election after 31st October, having failed to achieve Brexit, nothing to show in terms of negotiations with the EU, and deep hostility towards him from a large part of his party after having removed the party whip from 21 Conservative lawmakers last week who voted to avoid a no-deal Brexit.

Mr Elliott concludes: “Geopolitical issues drive investor returns.  Investors can and should protect themselves from market uncertainty through exposure to a broad range of assets, currencies and geographic regions. The mantra of an investor should always be ‘diversification’ – this is especially pertinent in today’s uncertain market conditions.”

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

The Analytical Overview of the Main Currency Pairs on 2019.09.10

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10257
  • Open: 1.10473
  • % chg. over the last day: +0.25
  • Day’s range: 1.10404 – 1.10524
  • 52 wk range: 1.0931 – 1.1817

An ambiguous technical picture has developed on the EUR / USD currency pair. The trading instrument is in lateral movement. Unidirectional trends are not observed. Participants in financial markets expect additional drivers. At the moment, the following key support and resistance levels can be distinguished: 1.10200 and 1.10600, respectively. We do not rule out further recovery of the single currency. We recommend that you keep track of up-to-date information regarding trade negotiations between Washington and Beijing. Positions must be opened from key levels.

At 17:00 (GMT + 3: 00), a JOLTS report will be published in the United States.

EUR/USD

Indicators do not give accurate signals: the price is consolidating near 50 MA and 100 MA.

The MACD histogram is close to 0.

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

Trading recommendations
  • Support levels: 1.10200, 1.09900, 1.09600
  • Resistance levels: 1.10600, 1.10850, 1.11150

If the price consolidates above 1.10600, expect further growth toward 1.11000.

Alternatively, the quotes can decrease toward 1.09900-1.09700.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.22700
  • Open: 1.23431
  • % chg. over the last day: +0.50
  • Day’s range: 1.23353 – 1.23527
  • 52 wk range: 1.1995 – 1.3385

The GBP/USD currency has moved up again. The trading instrument reached the two-month highs. Members of the House of Commons of the British Parliament voted against early elections due to Brexit. Additional support for GBP was provided by positive a positive GDP report and the data on the volume of production in the country’s manufacturing industry. Currently, GBP/USD quotes are consolidating. The key range is 1.23150-1.23800. The GBP/USD currency pair can grow further. Open positions from the key levels.

At 11:30 (GMT+3:00), investors will evaluate the report on the labor market in the UK.

GBP/USD

Indicators signal the strength of buyers: the price has fixed above 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 GBP/USD.

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

Trading recommendations
  • Support levels: 1.23150, 1.22550, 1.22100
  • Resistance levels: 1.23800, 1.24400

If the price consolidates above the resistance level of 1.23800, expect further growth toward 1.24200-1.24400.

Alternatively, the quotes could drop toward 1.22600-1.22400.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31748
  • Open: 1.31654
  • % chg. over the last day: -0.03
  • Day’s range: 1.31636 – 1.31782
  • 52 wk range: 1.2727 – 1.3664

The USD/CAD currency pair has stabilized after a sharp drop since the beginning of this month. CAD is currently consolidating. There is no defined trend. The local support and resistance levels are: 1.31550 and 1.31900, respectively. A trading instrument has the potential to further decline. The Canadian dollar is further supported by the positive dynamics of oil quotes. Positions must be opened from key levels.

At 15:30 Canada will publish a report on construction permits.

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

The MACD histogram is near 0.

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

Trading recommendations
  • Support levels: 1.31550, 1.31400
  • Resistance levels: 1.31900, 1.32250, 1.32450

If the price consolidates below 1.31550, expect a further drop toward 1.31200-1.31000.

Alternatively, the quotes can recover toward 1.32200-1.32400.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 106.824
  • Open: 107.241
  • % chg. over the last day: +0.37
  • Day’s range: 107.182 – 107.496
  • 52 wk range: 104.97 – 114.56

The USD/JPY currency pair continues to show positive dynamics. The trading tool again updated local highs. The USD/JPY quotes found resistance at 107.450. Mark 107.150 is already a “mirror” support. The USD/JPY currency pair has the potential for further growth. We recommend that you pay attention to the dynamics of yield on US government bonds. Positions must be opened from key levels.

The Economic News Feed for 10.09.2019 is calm.

USD/JPY

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

The MACD histogram is in the positive zone and above the signal line, indicating bullish sentiment.

The Stochastic Oscillator is in the neutral zone, the% K line is below the% D line, which gives a signal to sell USD / JPY.

Trading recommendations
  • Support levels: 107.150, 106.850, 106.650
  • Resistance levels: 107.450, 108.000

If the price consolidates above 107.450, expect further growth toward 108.000.

Alternative, the quotes can drop toward 106.900-106.800.

by JustForex

Currency Majors Show a Variety of Trends. The British Parliament Is on Vacation

by JustForex

The US dollar has not changed much against a basket of major currencies. The dollar index (#DX) ended the trading session with a slight decrease (-0.12%). Investors expect news on the progress in trade relations between the United States and China. So, yesterday, US Treasury Secretary Steven Mnuchin said that the United States made great progress in negotiations with the PRC.

Members of the House of Commons of the British Parliament once again voted against the holding of early elections in the country. Last week, officials voted against a similar proposal. British Prime Minister B. Johnson believes that the UK needs early elections, as he failed to advance his idea of leaving the country from the EU without an agreement. The official said that he would fight for a deal with the EU, but did not exclude Brexit without an agreement.

After parliament voted against early elections, it officially suspended its work until October 14. At this time, the discussion of any legislative acts will be stopped. The current parliamentary session is the longest in the history of the British Parliament in almost 400 years. It lasts from June 2017.

In addition, important economic data from the UK was published yesterday. So, GDP (q/q) remained unchanged, while experts expected a decrease of 0.1%. The volume of production in the manufacturing industry grew in July by 0.3%, while experts expected a decrease of 0.1%. Today, investors will evaluate the report on the labor market in the UK.

The “black gold” prices continued to rise. Currently, WTI crude oil futures are testing the $58.15 per barrel mark. At 23:30 (GMT+3:00) weekly stocks will be published according to the American Petroleum Institute.

Market indicators

In the US stock markets yesterday, a variety of trends were observed: #SPY (+0.05%), #DIA (+0.18%), #QQQ (-0.21%).

The 10-year US government bonds yield started to grow. At the moment, the indicator is at the level of 1.63-1.64%.

The news feed on 2019.09.10:
  • – The UK labor market data at 11:30 (GMT+3:00);
  • – The number of open jobs in the JOLTS labor market in the USA at 17:00 (GMT+3:00).

by JustForex

Thoughts on Security

By Adam Smith for Kite.com

Last week we launched Kite, a copilot for programmers. We’ve been excited about the Kite vision since 2014—we’re blown away by how many of you are excited about it too!

The response far exceeded our expectations. We had over a thousand upvotes on Hacker News; we were in the all time top 1% of launches on Product Hunt; and we had over two thousands tweets about Kite, not counting retweets. We couldn’t be more grateful to those who believed in the vision and took the time to share Kite with a friend or join the discussion online.

That said, we have a lot of work to do. Kite is the first product of its kind, which means we’re pioneering some new terrain. We signed up for this, and are committed to getting it right.

Why Cloud? Garmin versus Waze.

The first question is: why keep the copilot logic in the cloud, instead of locally as part of the Kite install? The short answer is we can build a better experience if Kite is a cloud service.

The full answer is a long list of things that are better about cloud services. Editors today are Garmin GPS, and Kite is Waze. Some folks still use Garmin GPS due to privacy concerns, but most of the world uses internet-connected navigation for its many advantages: fresher maps, more coverage, better tuned navigation algorithms, better user experience because iteration is 10x cheaper, etc.

The same patterns apply to Kite. I’d like to give three quick examples, and then talk about the larger strategy.

  1. Data by the Terabyte. Kite uses lots of data to power the copilot experience. We index public documentation, maintain maps of the Python world (e.g. scipy.array is an alias for numpy.array), and surface patterns extracted from all of Github. We keep all of this in RAM, so you don’t have to. We run servers with 32 GB of RAM; while some of you may have that kind of rig (we’re jealous!), the typical Macbook Pro doesn’t. This data set will grow as we add support for more programming languages and more functionality. With a cloud-based architecture you don’t need to preselect which languages you’ll use, or sacrifice gigabytes of memory on your machine.
  2. Machine Learning. Kite is powered by a number of statistical models, and we’re adding more over time. For example, Kite’s search and “Did you mean” features both use machine learning. Of course we could ship these to your local client, but our models will get smarter over time if we know which result you clicked on (like Google Search) and whether you accepted a suggested change to your code (like Google Spellcheck).
  3. Rapid ship cycles. We ship multiple times per week. This means our bugs get fixed faster, data is fresher, and you get the newest features as soon as possible.

The cloud and its resulting feedback loops lead to better products, faster. We’ve seen the same evolution across a number of verticals. A few examples:

  • Outlook → Gmail
  • Colocation → AWS
  • Network File Share → Dropbox
  • MS Office → Google Docs

In each of these cases, security had to be addressed. At first it wasn’t clear the world would make the jump. It didn’t happen all at once, and there are still people using the legacy technologies. This evolution takes time, and overall is very healthy.

So what does Kite need to do as a company excited about the possibilities of cloud-connected programming?

Security: Core Principles

Let’s talk about the security concerns that naturally arise from a cloud-powered programming copilot. As software developers, security has naturally been on our minds since the beginning. Frankly many of us here at Kite would have left similar comments on the HN thread :). Many of you are rightfully concerned about security as well, so let’s jump in.

Our approach to security begins with a few core principles:

  1. Security is a journey, not a destination. We will never be done giving you the tools you need to control your data. We will also never be done earning your trust.
  2. Control. You should control what data gets sent to Kite’s backend and whether you want us to store it for your later use. We should offer as much control as we can.
  3. Transparency. You should understand what is happening. We need to communicate this repeatedly, and clearly.
  4. We’re building the future together with you. We don’t presume to have all of the answers. We want to work with all of you to find the best solutions.

We are committed to these principles. We want you and your employer to be excited about using Kite, and we think these principles are a good first step.

Let’s look at some examples of how we’ll put these principles into action.

You should be able to control

  • Which directories and files, if any, are indexed by Kite,
  • If Kite should remember your history of code changes,
  • If Kite should help with terminal commands,
  • If Kite should remember terminal commands you’ve previously written,
  • If Kite should remember the output of past terminal commands,
  • …and you should be able to easily turn these switches on and off.
  • If you change a setting, we should ask if you’d like to delete historical data, as applicable.

You should always be able to see

  • What files Kite has indexed (and permanently remove them as needed),
  • What terminal commands, or file edits, are being remembered by Kite (and permanently remove them as needed),
  • …and Kite should check in periodically to verify that your security settings match your preferences.

These are the first levels of control and transparency, which are based on files, directories, and the type of information (terminal versus editor).

Secrets, like passwords or keys, are a category of content that deserve special attention. We don’t want secrets on our servers, and we will be developing multiple mechanisms (automated and manual) to make sure they stay off our servers. We don’t have specifics to announce yet, but we believe we will set industry standards that will be adopted across multiple categories of tools such as continuous integration and code review systems.

We know a lot of folks are also interested in on premise deployment. We understand the use case and want to support it. We worry that it would delay a lot of seriously awesome stuff we have on the roadmap, e.g. support for Javascript, so we are thinking through how to fit it in. It is something we want to facilitate, particularly in the long run.

An Example

Since last week’s launch we have begun adding some of these principles into the product. I’d like to show you one feature we shipped yesterday. It’s called the lockout screen.

Kite’s Security panel asks users to whitelist the directories that Kite should be turned on for. Code living outside of this whitelist never gets read by Kite. So what should the sidebar show if you open a Python file outside of the whitelist? As of yesterday’s addition, you’ll see something like this:

This interaction embodies the principles of transparency and control. It communicates what is happening, why, and gives you a one-click control mechanism to change what’s happening, if you so choose.

The Future Ahead

We are committed to incorporating the principles of control and transparency into the foundations of Kite. We will write more about security on our blog as we design and implement these features.

That said, we realize that everyone has different needs. We can’t promise that the options and functionality we choose on day 1 will be perfect for everyone, but we’re working day and night to expand the circle as widely as possible. We’ll do this tirelessly over the long term.

We’d love to hear your thoughts along the way. It’s only been a week, but all of you have been incredibly helpful as we learn how to get this right. As always, we encourage you to talk with us on Twitter at @kitehq.

Nothing makes us happier than knowing so many of you are equally excited about the Kite vision. The future of programming is awesome. Let’s build it together!

P.S. We are hiring! We are looking for frontend web devs, generalist systems engineers, programming language devs, and mac/windows/linux developers. You can reach us at [email protected].

About the Author:

This article originally appeared on Kite.com.

(Reprinted with permission)

 

Forex Technical Analysis & Forecast 09.09.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After finishing the first descending impulse at 1.1020, EURUSD has completed the correction at 1.1052; right now, it is forming the second descending impulse with the predicted target at 1.0977. After that, the instrument may grow to reach 1.1017 and then form the third impulse towards 1.0960. All these three impulses may be considered as the start of another wave inside the downtrend.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is forming the second descending impulse with the target at 1.2222. Later, the market may be corrected towards 1.2280 and then start the third impulse to reach 1.2100.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is forming the third ascending impulse with the target at 0.9940. Later, the market may form a new descending structure to reach 0.9860 and then resume trading upwards with the target at 1.0000.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is forming the third descending impulse. Today, the pair may fall to reach 106.50 and start a new correction towards 106.80. After that, the instrument may continue trading downwards with the target at 106.20.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating above 0.6845. If later the price breaks this range to the upside at 0.6860, the instrument may form one more ascending structure to reach 0.6890 and then fall towards 0.6796; if to the downside at 0.6827 – start another decline with the target at 0.6767.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB continues falling to reach 65.19. Possibly, today the pair may trade upwards with the target at 66.12 and then resume falling to return to 65.19.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is moving downwards. Today, the pair may fall to reach 1.3150 and then form one more ascending structure with the target at 1.3250.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold continues moving downwards to reach 1496.00. After that, the instrument may start another correction towards 1526.30 and then resume trading downwards with the target at 1475.50.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is moving upwards. Possibly, the pair may form a new ascending wave with the target at 65.00. After that, the instrument may start another correction to reach 63.00 and then resume trading inside the uptrend towards 70.00.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is moving downwards to reach 9800.00. Later, the market may form one more ascending structure towards 10700.00 and then resume trading inside the downtrend with the first target at 9500.00.

BITCOIN

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.

Johnson must drop ego for the sake of UK economic growth

By George Prior

Boris Johnson must put his ego aside to break the Brexit deadlock for the sake of Britain’s long-term sustainable economic growth, blasts the boss of the world’s largest independent financial advisory organization.

Nigel Green, founder and chief executive of deVere Group, is speaking out as the UK Prime Minister is in Dublin on Monday to meet Irish leader Leo Varadkar to find some common ground on the Irish backstop issue, which has been the primary sticking point in the Brexit withdrawal agreement.

Mr Green says: “Lawmakers will vote today on an early election, but it’s highly unlikely to pass.

“As such, it now looks likely Johnson will go ahead and suspend parliament, meaning there will be a Queen’s speech on 14 October, which sets out the government’s domestic intentions.

“With no-deal now, in effect, impossible without a monumental constitutional crisis, the only way for famously ambitious Johnson to get through the quagmire is to secure a deal that can get parliament’s approval.

“The numbers are there as the vast majority of Conservative rebels would vote for a deal as would opposition Labour lawmakers who want to see Brexit over the line.”

He continues: “Johnson needs to stop wasting time, stop his bully boy tactics, and start with real diplomacy to get negotiations reopened.

“Despite, in effect, losing one card, the Prime Minister still has a ‘strong hand’ in fact it could be getting stronger – not due to his strategy, but because Germany is on the brink of recession and they are Europe’s powerhouse economy. The last thing they need is a no-deal and be unable to trade effectively as they do now with the UK, especially as the wider EU and global economies are slowing.”

The deVere CEO goes on to say: “Brexit cost the UK economy a staggering £66bn in under three years, according to S&P Global Ratings. This figure will have grown considerably since then due to the intensifying chaos and uncertainty.

“The haemorrhaging of investment, confidence, opportunity and money must stop.

“It is critical that Boris Johnson now puts his ego aside – and his ridiculous ‘I’d rather be dead in a ditch’ comments – to break the Brexit deadlock for the sake of Britain’s long-term sustainable economic growth.

“His trip to Dublin on Monday is a golden opportunity to make some headway on the Brexit saga. He must seize it.”

Mr Green concludes: “Brexit has almost entirely overtaken the public sphere in Britain. There is much to be done to regain the confidence on which economies survive and thrive.

“Boris Johnson must stop wasting more time and get on with seeking a deal that gets through parliament. A failure to do so will hamper the UK’s long-term sustainable economic growth.”

About:

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Fibonacci Retracements Analysis 09.09.2019 (GOLD, USDCHF)

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after updating the previous high and attempting to enter the post-correctional extension area between 138.2% and 161.8% fibo at 1555.95 and 1569.17 respectively, XAUUSD has started a new decline, which is now getting close to 38.2% fibo at 1497.40. The next possible targets may be 50.0%, 61.8%, and 76.0% fibo at 1478.60, 1460.25, and 1438.15 respectively.

GOLD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, after finishing the descending impulse, the pair is correcting and moving sideways between 23.6% and 38.2% fibo.

GOLD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF continues forming the mid-term uptrend after the convergence. After correcting towards 23.6%, the pair is forming a new rising impulse and testing 38.2% fibo again. The next upside targets may be 50.0% and 61.8% fibo at 0.9948 and 1.0016 respectively.

USDCHF_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows more detailed structure of the current rising correction. USDCHF is forming a rising impulse towards the local high at 0.9929. After breaking it, the price may continue growing to reach the post-correctional extension area between 138.2% and 161.8% fibo at 0.9980 and 1.0010 respectively. The key support is at 0.9797.

USDCHF_H1

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.