InvestMacro

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.10342
• Open: 1.10257
• % chg. over the last day: -0.05
• Day’s range: 1.10155 – 1.10295
• 52 wk range: 1.0931 – 1.1817

On Friday, the main currency pairs showed a variety of trends. The United States released a mixed labor market report for August. 130K new jobs were created in the non-agricultural sector of the country, which is lower than the forecast value at the level of 160K. The growth in average hourly wages accelerated from 0.3% to 0.4%. The unemployment rate remained unchanged at 3.7%. At the moment, the EUR/USD quotes are consolidating around 1.10100-1.10500. Investors expect up-to-date information regarding trade negotiations between Washington and Beijing. The EUR/USD currency pair has the potential for further recovery. We recommend opening positions from key levels.

The Economic News Feed for 09.09.2019 is calm.

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

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

The Stochastic Oscillator is near the overbought zone, the %K line is above the %D line, which indicates bullish sentiment.

Trading recommendations

• Support levels: 1.10100, 1.09650, 1.09300
• Resistance levels: 1.10500, 1.10850, 1.11150

If the price consolidates above 1.10500, expect further growth toward 1.11000.

Alternatively, the quotes can decrease toward 1.09800-1.09600.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.23260
• Open: 1.22700
• % chg. over the last day: -0.40
• Day’s range: 1.22647 – 1.22907
• 52 wk range: 1.1995 – 1.3385

The GBP/USD currency pair retreated from local highs after a sharp rally last week. Investors began to partially fix the sterling position. The trading instrument is currently consolidating. GBP/USD quotes test local support and resistance levels: 1.22550 and 1.23000, respectively. Financial market participants continue to monitor the situation around Brexit. Today we expect important economic releases from the UK. Positions must be opened from key levels.

The Economic News Feed for 09.09.2019:

• – UK GDP report – 11:30 (GMT + 3: 00);
• – Manufacturing Industry Production Volume – 11:30 (GMT+3:00);

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

The MACD histogram has moved to the negative zone, which signals the strength of sellers.

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

Trading recommendations

• Support levels: 1.22550, 1.22100, 1.21600
• Resistance levels: 1.23000, 1.23550, 1.24000

If the price consolidates above 1.23000, expect further growth toward 1.23500-1.23700.

Alternatively, the quotes can drop toward 1.22200-1.22000.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.32264
• Open: 1.31748
• % chg. over the last day: -0.43
• Day’s range: 1.31640 – 1.31769
• 52 wk range: 1.2727 – 1.3664

The USD/CAD currency pair continues to show a negative trend. On Friday, the quotes once again updated the local lows. CAD was supported by positive data on the Canadian labor market for the August. The trading tool found support at 1.31600. 1.31900 is already a “mirror” resistance. USD/CAD quotes can decline further. We recommend paying attention to the dynamics of oil quotes. Positions must be opened from key levels.

The Economic News Feed for 09.09.2019 is calm.

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

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

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: 1.31600, 1.31300
• Resistance levels: 1.31900, 1.32250, 1.32450

If the price consolidates below 1.31600, a further drop in the USD/CAD quotes is expected. The potential movement is to 1.31300-1.31000.

Alternatively the quotes could recover toward 1.32150-1.32400.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 106.925
• Open: 106.824
• % chg. over the last day: -0.04
• Day’s range: 106.761 – 107.022
• 52 wk range: 104.97 – 114.56

The USD/JPY currency pair stabilized after a rather long growth last week. The trading instrument is currently consolidating. There is no defined trend. The local support and resistance levels are 106.700 and 107.000, respectively. Investors expect additional drivers. We recommend that you pay attention to the dynamics of yield on US government bonds. Positions must be opened from key levels.

Japan’s GDP growth in the second quarter met market expectations and amounted to 1.3% (y/y).

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

The MACD histogram is near the 0 mark. There are no signals at the moment.

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

Trading recommendations

• Support levels: 106.700, 106.300, 105.850
• Resistance levels: 107.000, 107.200, 107.500

If the price consolidates above 107.000, expect further growth toward 107.200-107.500.

Alternatively, the quotes can drop toward 106.450-106.200.

by JustForex

by JustForex

The US dollar is consolidating against a basket of major currencies. The dollar index (#DX) is testing local lows. Mixed economic data from the USA was published on Friday. Thus, the number of people employed in the non-farm sector grew in August by only 130K, while experts expected growth by 160K. At the same time, the average hourly wage increased in August by 0.4% instead of 0.3%. The unemployment rate was 3.7%, as experts predicted.

The Canadian dollar strengthened against the US currency amid the publication of optimistic economic data from Canada. Thus, the level of employment rose in August by 81.1K instead of the expected growth of 18.9K. The Ivey business activity index in August was 60.6, while analysts forecased a value of 55.2.

The British pound retreated from local highs. Participants in financial markets began to partially fix pound positions. The uncertainty around Brexit remains in the spotlight. The High Court of Great Britain decided to suspend the work of Parliament. Also, according to the law passed by the Parliament, British Prime Minister Boris Johnson will be required to ask the EU authorities to postpone Brexit for three months.

A key event in the current trading week will be the meeting of the European Central Bank on Thursday, September 12. Experts expect the ECB to lower the rate on deposit funds from -0.40% to -0.50%. Participants in financial markets will closely monitor the comments and rhetoric of representatives of the Central Bank. The regulator may announce the introduction of additional measures to stimulate the eurozone economy.

The “black gold” prices went up. Currently, WTI crude oil futures are testing the $57.00 per barrel mark.

Market indicators

On Friday, the US stock markets showed mixed trends: #SPY (+0.08%), #DIA (+0.24%), #QQQ (-0.10%).

The yield on 10-year US government bonds is at the level of 1.58-1.59%.

• – The UK GDP data at 11:30 (GMT+3:00);
• – The production in the manufacturing industry of Great Britain at 11:30 (GMT+3:00).

by JustForex

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

Early in the second week of September, Gold is correcting. However, there aren’t many active bears on the market as investors are still unsure whether the global economy may quickly find an impulse for growth and solve all current conflicts.

Lack of dynamics in the US-China trade talks keeps long-term investors in suspense. So far, the parties haven’t been able even to renew negotiations, not to mention any progress. Moreover, the American rhetoric relating to its own monetary policy remains uncertain as well. On one hand, macroeconomic numbers don’t force the regulator to cut the rate, but on the other hand, the White House’s lobby is too much to somehow avoid it.

As a result, the USD gets under pressure, while Gold gets a chance to reach stability without any reasons to plummet.

Meanwhile, physical demand for Gold among global Central Banks remains quite significant, thus providing support to the precious metal.

In the H4 chart, XAUUSD is forming another descending wave. By now, it has rebounded from 1526.50 to the downside and is currently moving inside the downtrend towards 1496.00. After reaching this level, the market may start a new to return to 1526.50. After that, the instrument may resume trading downwards with the target at 1475.00. From the technical point of view, this scenario is confirmed by MACD Oscillator: its signal is moving below 0, which implies further decline.

As we can see in the H1 chart, XAUUSD is trading to rebound from 1511.20 to the downside; this movement may be considered as the fifth wave inside the downtrend to reach 1496.00. Later, the market may form a reversal pattern near these lows and start a new correction towards 1526.50. From the technical point of view, this scenario is confirmed by Stochastic Oscillator: its signal line is moving to break 50.00 to the downside, which implies the continuation of the current downtrend to reach 1496.00.

Disclaimer

Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

By Admiral Markets

Source: Economic Events September 9, 2019 – Admiral Markets’ Forex Calendar

As we enter the start of the week, the economic calendar is quite thin, so we want to focus solely on the technical side in the DAX30 CFD.

After breaking above 12,000 points and re-testing 12,180/200 points into the last weekly close, driven mainly by a headline last Thursday which stated that the U.S. and Chinese envoys will meet in early October for additional talks aimed at ending the tariff war that threatens global economic growth, the picture in the German index stays bullish.

This is technically true on an Hourly time-frame as long as we trade above 11,800/850 points even though the technical picture starts to darken a little if the DAX30 CFD drops below 12,080 points, giving the technical picture on H1 a neutral touch.

As long as we hold above 12,080, the target on the upside stays around 12,270/300 points:

Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Hourly chart (between August 19, 2019, to September 6, 2019). Accessed: September 6, 2019, at 10:00pm GMT

Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Daily chart (between May 31, 2018, to September 6, 2019). Accessed: September 6, 2019, at 10:00pm GMT – Please note: Past performance is not a reliable indicator of future results, or future performance.

In 2014, the value of the DAX30 CFD increased by 2.65%, in 2015, it increased by 9.56%, in 2016, it increased by 6.87%, in 2017, it increased by 12.51%, in 2018, it fell by 18.26%, meaning that after five years, it was up by 10.5%.

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Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter “Analysis”) published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:

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.
7. Any kind of previous or modeled performance of financial instruments indicated within the Publication should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
8. The projections included in the Analysis may be subject to additional fees, taxes or other charges, depending on the subject of the Publication. The price list applicable to the services provided by Admiral Markets is publicly available from the website of Admiral Markets.
9. Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, you should make sure that you understand all the risks.

By Admiral Markets

By Evan Lucas, FPMarkets.com

In the increasingly risky FX landscape single pair/cross risk may no longer be the best option to trade due to gapping and being stopped out.

We only have to look back at the month of August to see this kind of risk playing out.

EUR, GBP, AUD, NZD and the Scandinavian currencies all took a hit on geopolitics, global growth fears and the bond market rally. EM FX in particularly had a shocker in August, and if we look at the current setups in EM FX the likelihood of further steep losses is high as event risk and growth fears continue to unfurl throughout September.

Similar issues are facing the EUR and GBP. Germany on the verge of a technical recession, France is stuck in a lackluster inflation and manufacturing environment and Italy facing further political upheaval from its government.

Couple this with the expected suite of monetary policy changes from the ECB and we have an EUR under real pressure. Now, even if the ECB disappoints and doesn’t go as hard as the market is pricing it will be quickly overrun by the above issues.

Brexit is also moving into an ‘end-game’ scenario as the October 31 st deadline looms large. The developments in the Parliament are changing thick and fast and even though a hard Brexit now looks less likely after the events of this week which has pushed the GBP back above $1.22 it does not hide the fact that no actual agreeable deal is near.

Furthermore, the Fed remains on a path of ‘cautious easing’ the likelihood of disappointing a market that is wanting a move aggressive cut is high. Watch for a snapback in the US curve and DXY of this ‘disappointment’.

Caveat: all these factors are relatively well known don’t expect a prolonged sell-off or a structural change in momentums. But, it does all point to single pair risk being high.

This is why DXY is probably a good option to turn too. It gives some ‘diversification’ risk management and does allow techincals to feed into your trading.

If look at the daily chart, DXY has moderately shifted higher over the past 52 weeks. However, the main has traded nicely inside its Bollinger bands reverting back to mean each time it has tested the top or the bottom band.

The RSI confirms this view and shows that DXY hasn’t gone through overbought or oversold territory all year but above 62 it tends to be sold off and on or below 40 its brought back.

DXY then, should, at leas,t give some confidence that your techincals can give you direction with being trumped by single pair event risk that stops you out or is run over by a gap.

By Evan Lucas, FPMarkets.com

By George Prior

A UK election is almost certainly on the horizon – and domestic and global investors should revise their portfolios accordingly, warns the boss of one of the world’s largest independent financial advisory organizations.

The warning from Nigel Green, founder and chief executive of deVere Group, which has $12bn under advisement, comes as the government announces that a fresh vote on an early election has been scheduled for Monday just before Parliament is due to be suspended from next week until 14 October.

Mr Green affirms: “With the UK’s Brexit–driven political crisis escalating, it’s almost certain that there will be a general election in order to try and end the deadlock. The only question is whether it will take place before or after the Brexit deadline day of 31 October.

“When it happens, it will be an election that gives voters the stark choice between Johnson’s no-deal Brexit, which would likely negatively impact the UK economy for several years, or Jeremy Corbyn’s Labour party, which promises an agenda of anti-business, high-tax, low-profit policies.

“Depressingly those are the options facing the British electorate in a time of national crisis.”

He continues: “Against the somewhat bleak outlook, UK domestic investors and global investors with exposure to UK assets should revise their portfolios accordingly.

“They should remain invested and ensure their portfolios are truly diversified across asset classes, sectors and regions.”

Mr Green goes on to say: “It’s clear no-deal is deeply unpopular in parliament.  As such, Mr 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 PM 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 concludes: “An election in itself will create further uncertainty for the UK economy and the pound – and whoever wins, Mr Johnson or Mr Corbyn, the drama will be far from over for differing reasons.

“Geopolitical factors of this magnitude impact investor returns and steps should be taken to mitigate risks and take advantage of the opportunities when they are presented.’

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

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is consolidating around 1.1037. Possibly, today the pair may fall to break 1.1024 and then continue trading inside the downtrend with the first target at 1.0997.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is consolidating at the top of the ascending wave. According to the main scenario, the price is expected to form the first descending impulse towards 1.2200 and then resume trading upwards with the first target at 1.2280.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is forming the second ascending impulse with the target at 0.9892. Later, the market may form a new descending structure to reach 0.9870 and then resume trading upwards with the first target at 0.9913.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating at the top. Today, the pair may fall to reach 106.52 and start a new growth towards 106.80. After that, the instrument may continue trading downwards with the first target at 106.20.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating above 0.6809. Today, the pair may form a new descending structure to reach 0.6783 and then return to 0.6809. Later, the market may start another decline with the target at 0.6760.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating below 66.12. Possibly, the pair may trade downwards to break 65.60 and then continue falling with the first target at 65.20.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD has completed the ascending impulse along with the correction. Today, the pair may grow to reach 1.3296 and then start a new correction towards 1.3250. After that, the instrument may form one more ascending structure with the target at 1.3350.

XAUUSD, “Gold vs US Dollar”

Gold has completed the descending impulse at 1508.33; right now, it is consolidating. Possibly, the pair may continue moving downwards to reach 1478.78. However, if the price grows to break 1522.20, the instrument may start a new correction towards 1537.70 and then resume trading downwards to return to 1508.30.

BRENT

Brent has finished the ascending wave at 62.60; right now, it is correcting towards 60.06. After that, the instrument may resume trading inside the uptrend with the target at 64.25.

BTCUSD, “Bitcoin vs US Dollar”

After forming the descending impulse, BTCUSD has completed the correction at 10715.00. Today, the pair may fall to reach 10430.00. However, if later the price breaks this level to the downside, the instrument may continue trading inside the downtrend with the first target at 9900.00.

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

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the daily chart, the correctional channel is transforming into Triangle. If the price breaks the current resistance live, BTCUSD will continue growing towards the high at 13857.20. More significant upside targets are inside the post-correctional extension area between 138.2% and 161.8% fibo at 15650.00 and 16790.00 respectively. At the same time, MACD lines are heading downwards, which means that the decline may yet continue towards 50.0% fibo at 8600.00.

In the H4 chart, the pair is correcting to the upside after finishing another descending wave and has already reached 50.0% fibo. In the future, the correction may continue towards 61.8% and 76.0% fibo at 11170.00 and 11595.00 respectively. The support is the low at 9322.70.

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the H4 chart, the descending tendency reached 76.0% fibo and then there was a convergence on MACD. In this case, ETHUSD may start a new growth towards 23.6%, 38.2%, 50.0%, and 61.8% fibo at 200.00, 222.60, 240.80, and 259.15 respectively.

In the H1 chart, after completing the descending correction at 61.8% fibo, the price is starting a new impulse to the upside to reach the high at 183.09.

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 EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.10341
• Open: 1.10342
• % chg. over the last day: -0.01
• Day’s range: 1.10301 – 1.10466
• 52 wk range: 1.0931 – 1.1817

The US dollar has stabilized against a basket of world currencies. Financial market participants are waiting for the publication of the US labor market report for August. Recent economic releases from the US have been rather optimistic. We recommend that you pay attention to the difference between the actual and forecasted values of the indicators. At the moment, EUR/USD quotes are consolidating in around 1.10100-1.10500. You should open positions from these levels and keep an eye on the head of the Federal Reserve who will make a speech today.

The Economic News Feed for 06.09.2019:

• – Preliminary GDP Report (EU) – 12:00 (GMT+3:00);
• – Labour Market Report (US) – 00:00 (GMT+3:00);

The price fixed above 50 MA and 100 MA, which signals the strength of buyers.

The MACD histogram is located near the 0 mark. There are no signals at the moment.

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

Trading recommendations

• Support levels: 1.10100, 1.09650, 1.09300
• Resistance levels: 1.10500, 1.10850, 1.11150

If the price consolidates above 1.10500, expect further growth toward 1.11000.

Alternatively. the quotes can decrease toward 1.09800-1.09600.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.22518
• Open: 1.23260
• % chg. over the last day: +0.59
• Day’s range: 1.23204 – 1.23429
• 52 wk range: 1.1995 – 1.3385

The pound continues to recover against the US dollar. Yesterday, the growth of GBP/USD quotes exceeded 80 points. The trading tool has updated the key extremes. Demand for GBP resumed due to a possible delay of Brexit. British Prime Minister Boris Johnson said that the situation with Brexit requires early elections. We recommend that you keep track of current information on this issue. At the moment, the GBP/USD currency pair is consolidating in the range of 1.23000-1.23550. Investors expect labor statistics from the US for August. Positions must be opened from key levels.

The Economic News Feed for 06.09.2019 is calm.

Indicators do not 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 is above the %D line, which also indicates bullish sentiment.

Trading recommendations

• Support levels: 1.23000, 1.22550, 1.22100
• Resistance levels: 1.23550, 1.24000

If the price consolidates above 1.23550, expect further growth toward 1.24000.

Alternatively, the quotes could drop toward 1.22600-1.22300.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.32216
• Open: 1.32264
• % chg. over the last day: +0.05
• Day’s range: 1.32067 – 1.32351
• 52 wk range: 1.2727 – 1.3664

The USD/CAD currency pair stabilized after a sharp decline the day before. Looney is currently in lateral motion. The key support and resistance levels are: 1.31900 and 1.32450, respectively. A trading instrument has the potential to further decline. Today, participants in financial markets will evaluate labor statistics from the United States and Canada. We also recommend paying attention to the dynamics of oil quotes. Positions must be opened from key levels.

At 15:30 (GMT+3:00) a report on the labor market in Canada will be published.

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

The MACD histogram is in the negative zone and below the signal line, which gives a strong signal to sell USD/CAD.

The Stochastic Oscillator is in the oversold zone, the %K line began to cross the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.31900, 1.31500
• Resistance levels: 1.32250, 1.32450, 1.32800

If the price consolidates below 1.31900, expect a further frop toward 1.31500-1.31400.

Alternatively, the quotes could recover toward 1.32600-1.32900.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 106.303
• Open: 106.925
• % chg. over the last day: +0.64
• Day’s range: 106.888 – 107.102
• 52 wk range: 104.97 – 114.56

The USD/JPY currency pair continues to show positive dynamics. The trading tool has updated local highs. Quotes USD/JPY found resistance at 107.200. Mark 106.700 is already a “mirror” support. Demand for the safe haven currencies weakened after reports of the resumption of trade negotiations between Washington and Beijing in October. Today we recommend paying attention to the news background on the US economy. Positions must be opened from key levels.

Mixed data on household spending in Japan were published during the Asian trading session.

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 USD/JPY.

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

Trading recommendations

• Support levels: 106.700, 106.300, 105.850
• Resistance levels: 107.200, 107.500

If the price consolidates above 107.200, expect further growth toward 107.500-107.700.

Alternatively, the quotes could drop toward 106.400-106.200.

by JustForex

by JustForex

The US dollar has not changed much against a basket of major currencies. The dollar index (#DX) closed with a slight decrease (-0.01%). Support for the US currency had optimistic economic data. Thus, the number of employees in the non-farm sector from ADP increased in August by 195K, while experts expected 148K. The ISM non-manufacturing PMI in the US rose in August to 56.4 instead of the expected value of 54.0. We are expecting labor statistics from the USA and Canada.

The British pound is still growing. The sentiment of financial market participants improved due to a possible delay in the “hard” Brexit. Also, investors continue to monitor the situation around the trade dispute between Washington and Beijing. US and China plan to resume trade negotiations in October.

The black gold prices continue to consolidate. Currently, the WTI crude oil futures are testing the $56.25 per barrel mark.

Market indicators

The bullish sentiment was observed yesterday in the US stock markets: #SPY (+1.29%), #DIA (+1.42%), #QQQ (+1.83%).

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

• – Preliminary data on GDP in the eurozone at 12:00 (GMT+3:00);
• – A report on the US labor market at 15:30 (GMT+3:00);
• – Employment change in Canada at 15:30 (GMT+3:00);
• – Ivey PMI in Canada at 17:00 (GMT+3:00).

We also recommend paying attention to the speech of the Fed’s head.

by JustForex