InvestMacro

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has finished the first descending impulse along with the correction at 1.1210. According to the main scenario, the price may form the second descending impulse to break 1.1166 and then continue trading inside the downtrend with the short-term predicted target at 1.1120. However, an alternative scenario implies that the pair may form one more ascending structure to reach 1.1242 and then resume trading downwards.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has reached the target of Flag pattern. Today, the pair may continue trading inside the downtrend towards 1.2000. The first downside target is at 1.2133. Later, the market may form one more ascending structure towards 1.2171 and then start another decline to reach 1.2078. After that, the instrument may grow towards 1.2130 and then continue trading downwards with the key downside target at 1.2000.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed the first ascending wave along with the correction. Possibly, today the pair may form the second impulse to break 0.9815 and then continue trading inside the uptrend with the predicted target at 0.9870. However, an alternative scenario implies that the price may form a new descending structure to reach 0.9725 and then resume moving upwards.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 106.10 in the center of the range. Today, the pair may fall towards 105.60 and then start a new growth to return to 106.10. Later, the market may continue trading downwards with the key downside target at 105.11. However, an alternative scenario implies that the price may continue the correction to reach 106.60.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has reached its downside target. Possibly, today the pair may form a new consolidation range near the lows. Possibly, the pair may start another decline towards 0.6670 and then form one more ascending structure with the target at 0.6770.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating at the top of the ascending wave. Possibly, the pair may update 65.50 and then resume trading downwards with the first target at 64.15.

XAUUSD, “Gold vs US Dollar”

Gold is moving upwards. After breaking 1475.80 and forming a continuation pattern, today the pair may extend this structure towards 1497.11 (an alternative scenario). According to the main scenario, the price may start forming the first descending wave with the target at 1440.00.

BRENT

Brent is still moving downwards; it has broken 59.90 and may continue falling towards 58.45. After that, the instrument may form a new consolidation range with a reversal pattern. The pair is expected to start the first ascending wave with the target at 63.15.

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 TheTechnicalTraders.com

Over the past few weeks and months, we’ve been alerting our followers to the incredible setups in Natural Gas and Crude Oil.  If you’ve been following our research, you already know on May 21st we called for Oil to break down from $62 level with a target of $55 then $49 price levels.

We’ve been alerting that Natural Gas was setting up an incredible seasonal trade with a move that was likely to push lower into the $2.00 to $2.20 level – suggesting any move into this range would be a solid buying opportunity for the seasonal upside move.  Well, here we are about 35 days later and look at what happened.

Crude Oil Weekly Chart

The US/China trade issues and global economic turmoil is taking a toll on Crude Oil.  Price rotated downward very sharply last week with an incredible -8% downside move in one day.  Currently, price is resting just above the Moving Average and should soon breakdown below this level towards the $49 price level.  At that point, price should stall, briefly, before attempting to find support below $50.

Our Fibonacci price modeling system suggests true support is found near $45 and $40.  Be prepared for a potential downside move of -20% to -25% from current levels.

Natural Gas Weekly Chart

Natural Gas has done exactly what we expected.  On this Weekly chart, you can see our shaded BLUE support range area and our GREEN and RED arrows from months ago highlighting what we expected to happen in price.  Yes, price is lower than we currently expected, but it has aligned with our expected price rotation almost perfectly.

At this point, the sub $2.20 level is a perfect opportunity for skilled technical traders to prepare for the seasonal trend that will push Natural Gas back above the $2.65 to $3.15 level.  Allow us to go through our expectations with you so you understand how to plan for and trade this move.

August is typically moderately bearish for NG.  So expect to try to pick your entry for this trade in August.  The ratio of bearish price activity in August is 1.2x the bullish price activity.

September is STRONGLY BULLISH – with an upside ratio of 10x compared to historical downside price activity.  September is where we should see a big upside price move.

October is still STRONGLY BULLISH – with an upside ratio of 3x compared to historical downside price activity.

November is moderately bullish with a 1.3x upside ratio compared to downside price activity.

VIDEO – TODAYS MARKET ANALYSIS
SPX, BONDS, GOLD, OIL, NAT GAS

Article By RoboForex.com

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is testing the descending channel’s upside border and forming several reversal patterns, including Engulfing. At the moment, we may assume that despite the fundamental background the price may reverse and fall towards 1.1112 to continue forming the descending channel. However, one shouldn’t exclude a possibility that the price may break the resistance level and continue growing towards 1.1276.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, the ascending tendency continues. After breaking the channel’s downside border and forming Hammer reversal pattern close to the support level, USDJPY has completed a slight pullback. Right now, the pair is testing the level again. Judging by the previous movements, it may be assumed that after testing the horizontal support line the price may resume trading upwards to reach 107.25. However, we shouldn’t ignore a possibility that the instrument may break the support line, update the low at 105.51, and continue its decline.

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: 1.12034
• Open: 1.12005
• % chg. over the last day: -0.03
• Day’s range: 1.12000 – 1.12196
• 52 wk range: 1.1034 – 1.1817

During yesterday’s trading, the majors showed a variety of trends. EUR/USD quotes retreated from local highs. Financial market participants continue to monitor trade negotiations between the US and China. At the moment, the EUR/USD currency pair is consolidating in the range 1.11850-1.12150. A trading instrument can recover further We recommend opening positions from key levels.

The Economic News Feed for 07.08.2019 is calm.

Indicators indicate 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 EUR/USD.

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: 1.11850, 1.11600, 1.11150
• Resistance levels: 1.12150, 1.12450, 1.12800

If the price consolidates above 1.12150, expect the quotes to grow toward 1.12450-1.12600.

Alternatively, the price can descend toward 1.11600-1.11400.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.21297
• Open: 1.21368
• % chg. over the last day: +0.06
• Day’s range: 1.21355 – 1.21678
• 52 wk range: 1.2080 – 1.3385

The GBP/USD currency pair continues to trade in a protracted flat. Unidirectional trends are not observed. Participants in financial markets expect additional drivers. At the moment, the local support and resistance levels are: 1.21300 and 1.21800, respectively. We recommend keeping track of current information on the Brexit issue. In the near future, technical correction of the trading instrument after a prolonged fall is not out of the question. Positions must be opened from key levels.

The Economic News Feed for 07.08.2019 is calm.

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

The MACD histogram is near the 0 mark.

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

Trading recommendations

• Support levels: 1.21300, 1.20850, 1.20500
• Resistance levels: 1.21800, 1.22500, 1.23000

If the price consolidates above 1.21800, the price will correct toward 1.22300-1.22500.

Alternatively, the price can reduce toward 1.20850-1.20600.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.32012
• Open: 1.32756
• % chg. over the last day: +0.50
• Day’s range: 1.32635 – 1.33149
• 52 wk range: 1.2727 – 1.3664

The USD/CAD currency pair has again moved up. The trading tool has updated local highs. CAD is currently consolidating near the resistance at 1.33100. 1.32650 is already a “mirror” support. Pressure on the Canadian dollar is caused by a negative dynamics of oil prices. USD/CAD quotes have the potential for further growth. Investors expect important economic releases from Canada. Positions must be opened from key levels.

At 17:00 (GMT+3:00) Ivey index of business activity in Canada will be published.

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

The MACD histogram is located in the positive zone and above the signal line, which gives a strong signal to buy USD/CAD.

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: 1.32650, 1.32400, 1.32000
• Resistance levels: 1.33100, 1.33500

f the price consolidates above 1.33100, expect further growth toward 1.33400-1.33600.

Alternatively, the quotes can drop toward 1.32400-1.32100.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 105.944
• Open: 106.460
• % chg. over the last day: +0.35
• Day’s range: 105.933 – 106.464
• 52 wk range: 104.97 – 114.56

An ambiguous technical picture has developed on the USD/JPY currency pair. The trading instrument is in lateral movement. The “safe haven” currency is tested by the local support and resistance levels: 106,000 and 106.550, respectively. USD/JPY quotes have the potential for further correction. 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 07.08.2019 is calm.

Indicators do not provide accurate signals, the price has crossed 50 MA.

The MACD histogram is in the negative zone, which gives a weak signal to sell USD/JPY.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates a correction of USD/JPY quotes.

Trading recommendations

• Support levels: 106.000, 105.550
• Resistance levels: 106.550, 107.100, 107.500

If the price consolidates above 106.550, expect further correction toward 107.000-107.200.

Alternatively, the quotes can decrease toward 105.600-105.400.

by JustForex

By Admiral Markets

Source: Economic Events August 7, 2019 – Admiral Markets’ Forex Calendar

Today we want to have a look at the USD/CAD. After focussing 1.3000 into the end of the second quarter, the currency pair has seen a short rebound, stabilising above the psychologically relevant level.

One of the main reasons for the Loonie not taking on further bullish momentum, seems to be that the recent trade war fears, which not only triggered higher volatility (note: increasing volatility is usually CAD negative) but saw Crude Oil further decreasing after it got hit by around 7% last Thursday, when markets were threatened by global growth concerns after US President Donald Trump tweeted about more tariffs on Chinese goods from September onwards.

While this overall outlook makes it unlikely to see a drop below 1.3000 in the near future, or at least the short-term, the USD/CAD could probably see a push lower.

Today’s release of the Ivey PMI, giving an impression on Canada’s Business Confidence, is expected to come in at 53, slightly above last months’ reading at 52.4.

A better-than-expected reading could trigger CAD strength, since it would underline the hints from the BoC earlier in July where the central bank signalled that it currently sees no reason to follow any move by the Fed to lower rates.

That means on the other hand in our opinion that any disappointing reading could result in further USD/CAD gains back above 1.3300.

The technical key level seems to be found around 1.3260/3300: recapturing this region with backwind from a weak Ivey PMI reading would 1.3430/50 as a target on the downside.

Finding resistance here, on the other hand, leaves the currency pair vulnerable to another stint down to 1.3000/3050:

Source: Admiral Markets MT5 with MT5-SE Add-on USD/CAD Daily chart (between May 8, 2018, to August 6, 2019). Accessed: August 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 USD/CAD increased by 9.4%, in 2015, it increased by 19.1%, in 2016, it fell by 2.9%, in 2017, it fell by 6.4%, in 2018, it increased by 8.4%, meaning that after five years, it was up by 28.4%.

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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 JustForex

The US dollar won back part of losses during yesterday’s trading session. The US dollar index (#DX) closed in the positive zone (+0.11%). However, the US currency is still under pressure due to tensions between the US and China. The US Treasury has officially accused China of manipulating the national currency. At the same time, US President Donald Trump tried to suttle fears about a trade war with China and wrote on Twitter that the United States have a “very strong position.”

During the Asian trading session, the Reserve Bank of New Zealand has taken a decision on the key interest rate. Thus, the regulator unexpectedly lowered the indicator by 50 basis points to 1.00% per annum, while experts expected the interest rate to be lowered to just 1.25%. This decision of the Central Bank caused aggressive sales of Kiwi and Aussie.

The black gold prices are still declining. The WTI crude oil futures are currently testing the $53.45 per barrel mark. At 17:30 (GMT+3:00), the US crude oil inventories will be published.

Market Indicators

The bullish sentiment was observed yesterday in the US stock markets: #SPY (+1.40%), #DIA (+1.24%), #QQQ (+1.40%).

The 10-year US government bond yield fell sharply again. At the moment, the indicator is at the level of 1.68-1.69%.

– The index of business activity from Ivey in Canada at 17:00 (GMT+3:00).

by JustForex

By Alpari.com

By Alpari.com

By George Prior

The devaluation of China’s currency that is rattling global financial markets has revealed that Bitcoin is now becoming a safe haven asset.

The analysis from the CEO of one of the world’s largest independent financial advisory organizations comes as investors piled into the Bitcoin and other cryptocurrencies this week amid growing trade tensions between the U.S. and China.

The Chinese renminbi fell to under 7 to the U.S. dollar on Monday – the lowest in more than a decade – igniting drops in stocks and emerging market currencies and driving a rally in government bonds.

Nigel Green, chief executive and founder of deVere Group, notes: “The world’s largest cryptocurrency, Bitcoin, jumped 10 per cent as global stocks were rocked by the devaluation of China’s yuan as the trade war with the U.S. intensifies.

“This is not a coincidence. It reveals that consensus is growing that Bitcoin is becoming a flight-to-safety asset during times of market uncertainty.

“Bitcoin is currently realising its reputation as a form of digital gold. Up to now, gold has been known as the ultimate safe-haven asset, but Bitcoin  – which shares its key characteristics of being a store of value and scarcity – could potentially dethrone gold in the future as the world becomes increasingly digitalized.”

He continues: “With the Trump administration now officially labelling China a currency manipulator, escalating the tensions between the world’s two largest currencies economies, investors are set to continue to pile in to decentralized, non-sovereign, secure currencies, such as Bitcoin to protect them from the turmoil taking place in traditional markets.

“The legitimate risks posed by the continuing trade dispute, China’s currency devaluation and other geopolitical issues, such as Brexit and its far-reaching associated challenges, will lead an increasing number of institutional and retail investors to diversify their portfolios and hedge against those risks by investing in crypto assets.

“This will drive the price of Bitcoin and other cryptocurrencies higher.  Under the current circumstances, I believe the Bitcoin price could hit $15,000 within weeks.”

The deVere CEO concludes: “Cryptocurrencies are now almost universally regarded as the future of money – but what has become clear this week is that they are increasingly regarded a safe haven in the present.”

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

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6780; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6895 and then resume moving downwards to reach 0.6665. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6895. In this case, the pair may continue growing towards 0.6985.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6528; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6580 and then resume moving downwards to reach 0.6415. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6665. In this case, the pair may continue growing towards 0.6745.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3195; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3165 and then resume moving upwards to reach 1.3325. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.3095. In this case, the pair may continue falling towards 1.3025.

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

EURUSD, “Euro vs US Dollar”

It would be better to analyze EURUSD in the daily chart. As we can see, after the price tried to reach the psychologically important level at 1.1000, there was a convergence on MACD, which made EURUSD start a new rising impulse that has already reached mid-term 23.6% fibo. The next upside targets may be 38.2%. 50.0%, and 61.8% fibo at 1.1327, 1.1422, and 1.1514 respectively. The resistance is the low at 1.1027.

In the H1 chart, after finishing its quick rising movement, EURUSD started a new pullback correction, which has already reached 23.6% fibo. The next targets may be 38.2%, 50.0%, and 61.8% fibo at 1.1165, 1.1139, and 1.1112 respectively. If the pair breaks the high at 1.1250, it may continue trading upwards.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the daily chart, after plummeting and entering the post-correctional extension area between 138.2% and 161.8% fibo at 105.80 and 105.20 respectively, USDJPY has returned to 106.77. So far, this quick rise should be considered as an ascending correction. The key resistance is at 109.32.

In the H1 chart, the correction has reached 38.2% fibo. The next upside correctional targets may be 50.0% and 61.8% fibo at107.42 and 107.86 respectively. The support is the low at 105.52.

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.