InvestMacro

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.09898
• Open: 1.09659
• % chg. over the last day: -0.24
• Day’s range: 1.09308 – 1.09720
• 52 wk range: 1.0931 – 1.1817

The EUR continues to lose ground against the US dollar. EUR/USD quotes updated the two-year lows. EU production has been declining for 7 consecutive months, reinforcing expectations that the ECB could announce the introduction of additional financial incentives at a meeting on September 12. The trading instrument is currently consolidating. The local support and resistance levels are: 1.09300 and 1.09650, respectively. The EUR / USD currency pair has the potential for further decline. We are expecting important statistics from the USA. We recommend opening positions from key levels.

At 17:00 (GMT+3:00) the US will publish the business activity index by ISM.

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

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

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

Trading recommendations

• Support levels: 1.09300, 1.09000
• Resistance levels: 1.09650, 1.10000, 1.10350

If the price consolidates below 1.09300, expect a further drop toward 1.09000.

Alternatively, the quotes could recover toward 1.09900-1.10200.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.21461
• Open: 1.20608
• % chg. over the last day: -0.78
• Day’s range: 1.19935 – 1.20676
• 52 wk range: 1.1995 – 1.3385

The GBP/USD currency pair is showing aggressive sales. During yesterday’s and today’s trading, the drop exceeded 130 points. The trading tool has updated the key lows. GBP remains under pressure due to the tense situation around the Brexit process. British Prime Minister Boris Johnson convened an emergency cabinet meeting amid growing talk of possible early elections. Opponents of Brexit plan to pass a law that will force Johnson to seek a three-month delay in Britain’s exit from the EU. At the moment, the GBP/USD currency pair is testing the round level of 1.20000. Mark 1.20550 is the nearest resistance. We do not exclude a further drop in sterling. Positions must be opened from key levels.

At 11:30 (GMT + 3: 00), the UK will publish a business activity index in the construction sector.

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 GBP/USD.

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

Trading recommendations

• Support levels: 1.20000, 1.19500
• Resistance levels: 1.20550, 1.21100, 1.21500

If the price consolidates below the round level of 1.20000, a further drop toward 1.19600-1.19400.

Alternatively, the quotes could correct toward 1.20900-1.21100.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.33128
• Open: 1.33242
• % chg. over the last day: +0.13
• Day’s range: 1.33223 – 1.33466
• 52 wk range: 1.2727 – 1.3664

The USD/CAD currency pair continues to trade in the flat. The technical picture is ambiguous. At the moment, the following key support and resistance levels can be distinguished: 1.33150 and 1.33450. The trading instrument can grow further. Today, the investors will evaluate the economic releases from the United States. We also recommend paying attention to the dynamics of oil quotes. Positions must be opened from key levels.

The Economic News Feed for 03.09.2019 is calm.

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

The MACD histogram is in the positive zone, 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/CAD.

Trading recommendations

• Support levels: 1.33150, 1.32800, 1.32550
• Resistance levels: 1.33450, 1.33600, 1.34000

If the price consolidates above 1.33450, expect an increase toward 1.33700-1.33900.

Alternatively, the quotes could drop toward 1.32900-1.32750.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 106.048
• Open: 106.211
• % chg. over the last day: +0.06
• Day’s range: 106.140 – 106.385
• 52 wk range: 104.97 – 114.56

The technical picture on the USD/JPY currency pair is still ambiguous. The trading instrument is consolidating. There is no defined trend. Participants in financial markets expect additional drivers. At the moment, the local support and resistance levels are 106.000 and 106.400, respectively. Today we recommend paying attention to economic releases, as well as to the dynamics of yield on US government bonds. Positions must be opened from key levels.

The Economic News Feed for 03.09.2019 is calm.

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

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

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: 106.000, 105.650, 105.30
• Resistance levels: 106.400, 106.700, 107.000

If the price consolidates above 106.400, expect growth toward 106.700-107.000.

Alternatively, the quotes could drop toward 105.700-105.500.

by JustForex

by JustForex

The US dollar did not change against a basket of major currencies during yesterday’s trading. Investors are waiting for additional information regarding trade relations between the US and China. Trading activity was also reduced in connection with the celebration of Labor Day in the United States and Canada. The US dollar index (#DX) has kept current levels (+0.00%). Today we expect the publication of important economic data from the UK and the USA.

The British pound has updated local lows due to growing investors’ concern that the UK will exit the EU without a deal. A group of British officials proposed on Monday to move Brexit from October 31, 2019, to January 21, 2020. However, British Prime Minister, Boris Johnson, is categorically against the postponement of the country’s exit from the bloc. The official is also considering the possibility of holding an early general election if parliamentarians who disagree with him can pass a bill that blocks the country’s exit from the EU without a deal.

Today, the Reserve Bank of Australia made a decision on the interest rate during the Asian trading session. The indicator remained unchanged at 1.00%. Also, a report on retail sales was published, which fell by 0.1% in July, which turned out to be worse than forecasts, according to which the indicator was supposed to grow by 0.2%.

The “black gold” prices went down. Currently, the WTI crude oil futures are testing the $54.45 per barrel mark.

Market indicators

Yesterday, the US stock market was closed due to the holiday.

The yield on 10-year US government bonds fell again. At the moment, the indicator is at the level of 1.47-1.48%.

– The construction PMI in the UK at 11:30 (GMT+3:00);
– The ISM manufacturing PMI in the US at 17:00 (GMT+3:00).

by JustForex

By Alpari.com

By Alpari.com

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is forming the fifth descending wave; right now, it is consolidating around 1.0990. If later the price breaks this range to the upside, the instrument may start a new correction to reach 1.1033; if to the downside – resume trading inside the downtrend with the target at 1.0930.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has reached the target at 1.2133; right now, it is consolidating above it. Possibly, the pair may be corrected towards 1.2194; Later, the market may resume trading downwards to reach 1.2080.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is moving upwards. Possibly, the pair may reach 0.9923 and then consolidate close to the highs. If later the price breaks this range to the upside at 0.9925, the instrument may continue trading inside the uptrend to reach 0.9990; if to the downside at 0.9890 – start another correction with the target at 0.9845.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed the correction at 105.92. Possibly, today the pair may grow towards 106.41 and then fall to reach 106.15. If later the price breaks this range to the upside at 106.42, the instrument may form one more ascending structure to reach 106.71; if to the downside – continue the correction towards 105.60 and then start a new growth with the target at 107.07.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has finished the correction at 0.6717; right now, it is trading inside Triangle pattern. Possibly, the pair may form one more ascending structure to break 0.6733 and then continue trading upwards with the target at 0.6748. Later, the market may resume trading downwards to reach 0.6735 and then start a new growth with the target at 0.6767.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is forming the first descending wave towards 66.25. Later, the market may start another growth to reach 66.60 and then form a new descending structure with the target at 66.00.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is moving upwards. Today, the pair may grow towards 1.3345 and then fall to reach 1.3330. After that, the instrument may resume trading upwards with the target at 1.3370.

XAUUSD, “Gold vs US Dollar”

Gold has finished the first descending impulse along with the correction at 1533.70. Possibly, today the pair may fall to break 1513.00 and then continue trading inside the downtrend with the target at 1502.00.

BRENT

Brent is consolidating around 59.26. Today, the pair may expand the range towards 58.76. Later, the market may grow to reach 59.90 and then form a new descending structure towards 59.30. If the price breaks this range to the upside, the instrument may start a new growth to reach 61.50; if to the downside – resume trading inside the downtrend with the target at 58.20.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has completed the first ascending impulse along with the correction; right now, it is forming the second impulse to reach 10031.00. After that, the instrument may form a new descending structure to reach 9728.00 and then resume trading upwards with the first target at 10160.00.

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

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after completing the rising impulse, XAUUSD has started the correction to the downside, but the uptrend yet continues. After breaking the current high, the pair may continue trading upwards to reach 61.8% fibo at 1616.00. At the same time, there is a divergence within the uptrend on MACD, which may indicate a possible mid-term descending correction with the targets at 23.6%, 38.2%, and 50.0% fibo at 1487.00, 1444.60, and 1410.80 respectively.

As we can see in the H1 chart, the correctional downtrend has reached 61.8% fibo. The next downside target may be 76.0% fibo at 1508.20. However, there is a local convergence, which may indicate a new growth towards the high at 1554.99

USDCHF, “US Dollar vs Swiss Franc”

It would be better to analyze USDCHF on the daily chart. As we can see, the convergence made the pair reverse and start a new uptrend, which has already reached 38.2% fibo and may yet continue towards 50.0% and 61.8% fibo at 0.9984 and 1.0016 respectively. The support is the low at 0.9660.

The H4 chart shows more detailed structure of the current rising correction. USDCHF is correcting to reach 50.0% fibo at 0.9948. At the same time, there is a divergence, which may indicate a possible pullback.

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: 1.10566
• Open: 1.09898
• % chg. over the last day: -0.60
• Day’s range: 1.09830 – 1.09857
• 52 wk range: 1.0963 – 1.1817

Aggressive sales were observed on Friday on the EUR/USD currency pair. The drop in quotes exceeded 75 points. The trading tool has updated the key lows. The euro came under pressure after the release of weak inflation data in the eurozone. Some experts believe that the ECB at the next meeting may signal the introduction of additional financial incentives. At the moment, EUR / USD quotes are consolidating in the range of 1.09650-1.10000. We recommend opening positions from these marks.

At 10:55 (GMT+3:00), Germany will publish the business activity index in the manufacturing industry.

Indicators indicate the strength of sellers: the price has fixed below 50 MA and 100 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 is below the %D line, which also indicates a bearish sentiment.

Trading recommendations

• Support levels: 1.09650, 1.09500
• Resistance levels: 1.10000, 1.10350, 1.10600

If the price consolidates below 1.09650, expect a further drop toward 1.09400-1.09200.

Alternatively, the quotes could recover toward 1.10300-1.10500.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.22049
• Open: 1.21803
• % chg. over the last day: -0.23
• Day’s range: 1.21747 – 1.21918
• 52 wk range: 1.2015 – 1.3385

The GBP/USD currency pair stabilized after a sharp decline since the beginning of this week. GBP is currently consolidating. There is no defined trend. The key support and resistance levels are 1.21600 and 1.22000, respectively. Investors expect up-to-date information regarding the Brexit process. Today we recommend paying attention to statistics from the United States. Positions must be opened from these levels.

The Economic News Feed for 02.09.2019 is calm.

• – Economic Event (GB) – 00:00 (GMT+3:00);
• – Economic Event (GB) – 00:00 (GMT+3:00);
• – Economic Event (GB) – 00:00 (GMT+3:00);

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 GBP/USD.

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

Trading recommendations

• Support levels: 1.21600, 1.21100, 1.20700
• Resistance levels: 1.22000, 1.22500, 1.23000

If the price consolidates above the round level of 1.22000, expect the quotes to rise toward 1.22400-1.22600.

Alternatively, the quotes could decrease toward 1.21300-1.21100.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.32897
• Open: 1.33128
• % chg. over the last day: +0.20
• Day’s range: 1.33128 – 1.33251
• 52 wk range: 1.2727 – 1.3664

The technical picture on the USD/CAD currency pair is still ambiguous. Unidirectional trends are not observed. CAD is currently consolidating near a local resistance of 1.33250. The round level 1.33000 is the immediate support. USD/CAD quotes have upside potential. We recommend that you pay attention to the dynamics of oil prices. Positions must be opened from key levels.

The Canada’s financial markets are closed today due to the holiday.

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

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

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

Trading recommendations

• Support levels: 1.33000, 1.32800, 1.32550
• Resistance levels: 1.33250, 1.33400

If the price consolidates above 1.33250, expect the quotes to grow toward 1.33400-1.33600.

Alternatively, the quotes could drop toward 1.32800-1.32650.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 106.517
• Open: 106.048
• % chg. over the last day: -0.20
• Day’s range: 105.920 – 106.242
• 52 wk range: 104.97 – 114.56

The USD/JPY currency pair stabilized after the rally last week. The trading instrument is currently consolidating. The key support and resistance levels are: 105.850 and 106.300, respectively. Financial market participants continue to monitor the trade conflict between Washington and Beijing. We also recommend paying attention to the dynamics of yield on US government bonds. USD/JPY quotes have the potential for further growth. Positions must be opened from key levels.

The Economic News Feed for 02.09.2019 is calm.

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

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

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: 105.850, 105.500, 105.150
• Resistance levels: 106.300, 106.700, 107.000

If the price consolidates above 106.300, expect further growth toward 106.600-106.850.

Alternatively, the quotes could drop toward 105.600-105.450.

by JustForex

By George Prior

Boris Johnson’s Brexit strategy is nothing more than a high-risk gamble for the UK economy, warns the CEO of one of the world’s largest independent financial advisory organizations.

The stark warning from Nigel Green, the chief executive of deVere Group, comes as it is revealed that several billion pounds have been pulled out of UK equity funds since Mr Johnson became Prime Minister amid growing fears of a no-deal Brexit.

Mr Green says: “There’s an ongoing and growing shift out of the UK and into the EU by international fund managers as Boris Johnson’s political manoeuvres continue to increase the likelihood of Britain leaving the EU with no-deal.

“Tens of billions have already outflowed from UK equities since the referendum – and the haemorrhaging in this area doesn’t show any sign of stopping.

“In addition, Brexit has already cost the UK economy more than £66bn in under three years, according to S&P Global Ratings.”

He continues: “Britain’s global reputation as a pro-business, stable, secure jurisdiction to invest in and do business has taken a hit since the referendum in 2016. It’s now fading fast as the Prime Minister ramps up his ‘do or die’ approach to Brexit as parliament returns.

“On Monday Mr Johnson threatened to sack lawmakers from his own party who fail to support his government in the battle over planned legislation designed to block a no-deal Brexit.

“Also this week, the first adverts will be released as part of Boris Johnson’s new £100million campaign to get ready for Brexit.

“The biggest public information campaign since World War Two will run across TV, social media and billboards for the next two months.”

Mr Green goes on to say: “All these measures are, of course, tactics; they’re a very public display of defiance to the EU to pressurise them to reopen negotiations and/or give concessions to the UK.

“But this so-called ‘strategy’ is nothing more than a high-risk gamble. Of course, it might work at the eleventh hour. But if it fails, the consequences for the UK economy will be serious and far-reaching.

“I’m not sure that any political leader should be playing poker with their nation’s economy at stake.”

The deVere CEO concludes: “Now parliament has returned from summer recess, it must put in as much work into getting a deal as preparing for no-deal.”

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 Admiral Markets

Source: Economic Events September 2, 2019 – Admiral Markets’ Forex Calendar

As we enter the start of the week, the economic calendar is quite thin due to the US bank holiday “Labour Day” (please check the Trading Schedule for modified trading hours at Admiral Markets here), so we shouldn’t expect huge volatility and big moves, especially in the DAX30 CFD.

Still, the technical picture looks very interesting after the German index broke above 11,800/850 points and went for a test of the psychological relevant region around 12,000 points into the weekly close.

A direct follow through failed, but the DAX30 CFD seems solidly supported around 11,800/850 points and if we get to see a re-test of this region, we consider it to be an interesting long-trigger.

In general, as long as the DAX30 CFD trades above 11,570 points, we consider the mode on H1 bullish and if the scenario described above plays out and the German index breaks above 12,000 points, further gains up to 12,270/300 points in the days to come are a serious option:

Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Hourly chart (between August 12, 2019, to August 30, 2019). Accessed: August 30, 2019, at 10:00 PM GMT

Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Daily chart (between May 24, 2018, to August 30, 2019). Accessed: August 30, 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.
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By Admiral Markets

by JustForex

The US dollar has strengthened against a basket of major currencies during Friday trading despite mixed economic data. So, the index of consumer expectations and sentiments from the University of Michigan was published. The index of expectations in August was 79.9 and turned out to be worse than the forecasted value of 82.3; the index of sentiments was 89.8 instead of 92.1. At the same time, the index of business activity in Chicago was published as well, which amounted to 50.4 in August and was better than the expected value of 48.1. The US dollar index (#DX) closed in the positive zone (+0.41%).

US President Donald Trump again criticized the actions of the Fed. He accused the regulator of inaction while the euro is falling against the US currency, which gives European countries an advantage. “The Euro is dropping against the Dollar “like crazy”, giving them a big export and manufacturing advantage…and the Fed does NOTHING!” Trump wrote on Twitter.

Relations between the US and China have again escalated. US duties on Chinese goods entered into force yesterday. Washington imposed 15% tariffs on Chinese goods worth more than $ 125 billion, including clothes, shoes, smartwatches, TVs, etc. China, in response, began to charge additional tariffs on a number of US goods worth $ 75 billion.

Today, during the Asian session Caixin Manufacturing PMI has been published. The indicator was 50.4 in August and turned out to be better than the forecasted value of 49.8.

The “black gold” prices are moving in different directions. Currently, the WTI crude oil futures are testing the $ 54.85 per barrel mark.

Market indicators

On Friday, the US stock markets showed a variety of trends: #SPY (-0.04%), #DIA (+ 0.09%), #QQQ (-0.24%).

The yield on 10-year US government bonds fell again. At the moment, the indicator is at the level of 1.49-1.50%.

– German Manufacturing PMI at 10:55 (GMT+3:00);
– Manufacturing PMI of the UK at 11:30 (GMT+3:00).

by JustForex

By Alpari.com

By Alpari.com