InvestMacro

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is forming the fifth descending structure. Possibly, today the pair may reach 1.1251 and then grow towards 1.1260. Later, the market may start another decline with the short-term target at 1.1242.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is consolidating around 1.2586. Today, the pair may fall to break 1.2555 and continue trading downwards with the target at 1.2525.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.9875. If later the price breaks the range to the upside, the instrument may form one more ascending structure towards 0.9905; if to the downside – start a new correction to reach 0.9800 and then resume trading inside the uptrend with the short-term target at 0.9950.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has broken the descending channel; right now, it is trading upwards to reach 108.18. After that, the instrument may start a new correction towards 107.87 and then form one more ascending structure with the short-term target at 108.85.

AUDUSD, “Australian Dollar vs US Dollar”

After forming the consolidation range around 0.7007, AUDUSD has broken it to the upside. Possibly, the pair may extend this ascending wave towards 0.7050 and then form a new descending structure to reach 0.7010. Later, the market may form one more ascending structure to complete the wave at 0.7070 and then resume trading downwards with the first target at 0.7000.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 63.43. Possibly, the pair may break it to the upside and continue forming the third wave with the short-term target at 64.10. After that, the instrument may start another decline towards 63.60 and then continue trading upwards to reach 64.40.

XAUUSD, “Gold vs US Dollar”

Gold has broken the ascending channel. Possibly, today the pair may fall with the short-term target at 1410.60 and then start a new growth to reach 1419.55. Later, the market may continue trading downwards with the first target at 1401.70.

BRENT

Brent is trading upwards to reach 64.86. After that, the instrument may fall towards 62.00 and then form one more ascending structure to break 67.70. Later, the market may continue trading upwards to reach 70.70.

Article By RoboForex.com

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

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, the correctional uptrend continues. AUDUSD is heading towards 61.8% fibo at 0.7062. At the same time, there is a divergence on MACD, which indicates a new decline after the current correctional uptrend. The first downside target may be 38.2% fibo at 0.6974.

The H1 chart shows more detailed structure of the current correctional uptrend towards 61.8% fibo at 0.7063. In case the tendency reverses, the instrument may move towards 23.6%, 38.2%, 50.0%, and 61.8% fibo at 0.7008, 0.6975, 0.6947, and 0.6920 respectively.

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the daily chart, the current descending wave has reached 38.2% fibo. The next downside target may be 50.0% fibo at 1.2864. The key resistance is at 1.3665.

In the H4 chart, USDCAD has reached 38.2% fibo; right now, there is a convergence on MACD. In this case, the pair may start a new pullback towards the current resistance at 23.6% fibo at 1.3288.

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: 1.12841
• Open: 1.12776
• % chg. over the last day: -0.03
• Day’s range: 1.12776 – 1.12951
• 52 wk range: 1.1111 – 1.2009

EUR/USD continues to consolidate. There is no defined trend. The local support and resistance levels are 1.12750 and 1.13100. Financial market participants took a wait-and-see attitude until the US labor market report for June, which will be published on Friday July 5th. Today trading activity and volatility may be reduced due to the celebration of Independence Day in the United States. We recommend to open positions from key levels.

At 12:00 (GMT + 3:00) the EU will publish a report on the volume of retail sales.

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

The MACD histogram is close to the 0 mark.

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

Trading recommendations

• Support levels: 1.12750, 1.12400
• Resistance levels: 1.13100, 1.13500, 1.13900

If the price fixes below 1.12750, expect further descend towards 1.12400-1.12200.

Alternatively, the quotes can recover toward 1.13400-1.13600.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.25907
• Open: 1.25647
• % chg. over the last day: -0.08
• Day’s range: 1.25623 – 1.25913
• 52 wk range: 1.2438 – 1.3631

GBP/USD has stabilized after a sharp fall since the beginning of the current week. GBP is consolidating. The key support and resistance levels are 1.25600 and 1.26000. GBP remains under pressure due to weak business activity in the UK. GBP/USD quotes can decline further. The positions must be opened from key levels.

Today, the news background on the UK economy is calm. We recommend to keep up to date information on Brexit.

The price has fixed below 50 MA and 100 MA, which indicates the power of the sellers.

The MACD histogram began to rise and approached 0. There are no signals at the moment.

The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. At the moment, there are no accurate signals.

Trading recommendations

• Support levels: 1.25600, 1.25300, 1.25000
• Resistance levels: 1.26000, 1.26350, 1.26650

If the price consolidates below 1.25600, expect a decline toward 1.25300-1.25000.

Alternatively, the quotes can grow toward 1.26300-1.26500.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.31055
• Open: 1.30595
• % chg. over the last day: -0.37
• Day’s range: 1.30552 – 1.30733
• 52 wk range: 1.2727 – 1.3664

The USD/CAD currency pair has once again moved to a decline. Yesterday, the quotes fell by more than 45 points and updated local minima. CAD is consolidating, tyhe key support and resistance levels are 1.30550 and 1.30850. In the near future, we do not exclude technical correction of the trading instrument. Pay attention to the dynamics of oil prices and open positions from key levels.

The Economic News Feed for 04.07.2019 is calm.

The price has fixed below 50 MA and 100 MA, which indicates the power of the 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 overbought zone, the %K line has started to cross the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.30550, 1.30000
• Resistance levels: 1.30850, 1.31150, 1.31450

If the price consolidates above 1.30850, the quotes can rise toward 1.31150-1.31300.

Alternatively, the quotes can fall toward 1.30200-1.30300.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 108.427
• Open: 107.878
• % chg. over the last day: -0.56
• Day’s range: 107.533 – 107.913
• 52 wk range: 104.97 – 114.56

The USD/JPY has gone down. During yesterday’s and today’s trading, the drop in quotes exceeded 80 pips. The trading instrument has established new local minimums. At the moment, the safe harbor currency is consolidating. The key support and resistance levels are 107.500 and 107.850, respectively. The focus is on economic reports from the United States. The technical picture signals a further drop in the USD/JPY quotes. We recommend to open positions from key levels.

The Economic News Feed for 04.07.2019 is calm.

The price has fixed below 100 MA, which indicates the strength of the sellers.

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

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

Trading recommendations

• Support levels: 107.500, 107.100, 106.800
• Resistance levels: 107.850, 108.100, 108.500

If the price consolidates below 107.500, a further fall in the USD / JPY quotes is expected. The potential movement to 107.200-107.000.

An alternative could be the growth of the USD / JPY currency pair to 108.100-108.300

by JustForex

by JustForex

The US dollar is changing slightly against a basket of major currencies. Yesterday, the US dollar index (#DX) closed the trading session with a slight increase (+0.08%). Today, trading activity may be low, as US markets are closed due to Independence Day. Earlier this week, the Fed’s Vice Chairman, Richard Clarida, said at a conference of the Central Bank in Finland that many Fed’s officials saw signals to ease monetary policy. However, Thomas Barkin, President of the Federal Reserve Bank of Richmond, said in an interview that it was too early to predict whether the Fed would lower the interest rate at the next meeting, which would be held on July 30-31. Investors expect additional clues regarding further Fed’s steps.

The US dollar is under pressure due to weak economic data from the US. ADP nonfarm employment change increased by 102K in June, while experts forecasted growth by 140K. Initial jobless claims counted to 221K instead of 220K. ISM non-manufacturing PMI was 55.1 in June instead of the forecasted 56.1.

The bearish sentiment is prevailing in the “black gold” market. At the moment, futures for the WTI crude oil are testing the mark of $56.90 per barrel.

Market Indicators

Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+0.80%), #DIA (+0.71%), #QQQ (+0.75%).

The 10-year US government bonds yield is consolidating. At the moment, the indicator is at the level of 1.95-1.96%.

Today, the news feed is calm. US financial markets are closed due to Independence Day.

by JustForex

By George Prior

More than half of banking and financial services customers around the world use fintech products and services, according to a new global poll.

Some 55 per cent of respondents of the survey carried out by deVere Group, one of the world’s largest independent financial advisory organizations, affirmed that they ‘regularly use financial technology to access and manage their money.’

883 people from the UK, Europe, Asia, Africa, Latin America and Australasia took part in the poll.

Of the findings, Nigel Green, deVere Group founder and CEO notes: “Even two or three years ago, that figure would have been significantly lower.  The fact that today 55 per cent of people polled globally use fintech solutions on a regular basis highlights the staggering rate of the digitalisation of our everyday lives.

“And it is speeding up. From self-driving cars, genetic bio-editing to AI, new technologies are beginning to impact every part of our lives. Our financial lives are no exception.  We’re in a new age.”

He continues: “Fintech firms are filling the void left between what traditional financial services companies are offering and what customers are now expecting, especially in terms of customer experience.

“In broad terms, this means immediate, on-the-go, 24/7 access to, use and management of their money. It means personalised, on-demand services. It means lower costs.

“Fintech is already a major disruptive presence in the financial services marketplace. This trend is only set to grow as ‘digital natives’ – the first generation that grew up with the internet and smart devices – become ever more dominant in the workforce and in social and political roles.”

According to the data collected by deVere, emerging markets in Asia, Latin America and Africa are becoming the biggest growth areas for participation.

“This could be due to fintech typically offering more inexpensive solutions compared to traditional financial services.  Also because these areas are home to many of the world’s 1.7 billion unbanked or underbanked population – those who don’t have access to or have limited access to financial institutions – and fintech allows this issue to be overcome,” affirms Mr Green.

Other standout trends: Around two thirds (67 per cent) of those polled used fintech apps to send remittances and money transfers. 46 per cent use financial technology vehicles to track investments and/or accounts. 28 per cent use them for storing and managing cryptocurrencies.

The deVere CEO goes on to add: “Fintech – a major part of the so-called ‘fourth industrial revolution’ – is a positive force for three key reasons.

“First, it is meeting clear and growing client demand for on-the-go services.

“Second, it is speeding up the advance of financial inclusion across the world. Helping individuals and companies successfully manage, save and invest their money will only result in a better society for us all.

“And third, it gives firms the opportunity to diversify, cut costs, meet regulatory requirements and improve the client experience, which will help build long-term relationships and trust.”

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 George Prior

Christine Lagarde will be a good choice for financial markets as the President of the European Central Bank, affirms the CEO of one of the world’s largest independent financial advisory organizations.

The assessment from the boss of deVere Group, which has $12bn under advisement, comes as Ms Lagarde, 63, who is currently Head of the International Monetary Fund (IMF) is nominated – and likely – to succeed Mario Draghi as president of the ECB when his eight-year term comes to an end in October.

The heads of EU member states last night confirmed their preferred candidates for a raft of top jobs, including the ECB, setting the potential future direction of the bloc for the next five years.

Mr Green comments: “The nomination of Christine Lagarde is both surprising and controversial.

“It is surprising because she herself has previously appeared to rule herself out from the job. Also, because she is not an economist, she’s a political figure with no direct experience of central banking.

“It’s controversial due to her ‘baggage.’  Under her leadership the IMF’s conduct “raised issues of accountability and transparency,” according to a report. She was also found guilty of negligence by a French court over her handling of a case during her time as the French finance minister.”

He continues: “However, despite some scepticism, I believe Christine Lagarde’s appointment would be well-received by financial markets.

“She is a known quantity. She is broadly considered a safe and competent pair of hands. She represents certainty. All this benefits markets.”

He goes on to add: “Criticism is being directed at her because her remit is to try and assimilate different fiscal policies with a single monetary one and she is not known as a leading economist, but more as a political figurehead.

But with many of Europe’s most pressing economic issues stemming from the political sphere, her political savvy could be an important advantage.”

The deVere CEO concludes: “Ms Lagarde can be expected to share Draghi’s liking for aggressive and innovative monetary policy. She is likely to insist on Quantitative Easing should inflation remain sluggish.

“Markets will appreciate this, especially as global economic growth appears to be slowing.”

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”

After completing the correction at 1.1320, EURUSD is forming a new descending wave towards 1.1242. Possibly, today the pair may consolidate above 1.1281. Later, the market may break this level to the downside and reach 1.1268. After that, the instrument may form one more ascending structure to return to 1.1281 and then resume trading inside the downtrend with the target at 1.1242.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading downwards. Today, the pair may reach 1.2557 and then start another growth towards 1.2590. Later, the market may form a new descending structure with the short-term target at 1.2500.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating between 0.9830 and 0.9880. If later the price breaks the range to the downside, the instrument may continue the correction towards 0.9770; if to the upside – resume trading upwards with the short-term target at 0.9950.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed the correctional wave at 107.55; right now, it is consolidating above it. Possibly, the pair may grow to break 108.04 and then continue trading upwards with the short-term target at 108.85.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has reached the correctional target at 0.6999; right now, it is consolidating. Possibly, the pair may expand the range towards 0.7007 and then fall to reach 0.6980. Later, the market may break this level and then continue trading downwards with the short-term target at 0.6850.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is trading upwards and forming a narrow consolidation range around 63.27. Possibly, the pair may break it to the upside and continue trading upwards with the short-term target at 63.80.

XAUUSD, “Gold vs US Dollar”

Gold has completed the correction; right now, it is consolidating above 1422.00. Possibly, today the pair may rebound from this level to the downside and start a new decline with the first target at 1407.20.

BRENT

Brent has completed the correction at 63.43. Today, the pair may consolidate around this level. Possibly, the pair may expand the range towards 62.00 and then form one more ascending structure with the first target at 67.55.

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

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the current downtrend is moving towards the low at 1.2506. Note that the previous descending tendency has been corrected by 38.2%. In case the price rebounds from the support, which is next to the low, the correction may yet continue thanks to a new rising wave. The upside correctional targets may be the high at 1.2784 and 50.0% fibo at 1.2841.

In the H1 chart, the pair is being corrected downwards after completing another ascending wave. Right now, it is getting closer to 76.0% fibo at 1.2573. At the same time, there is a convergence on MACD, which may indicate a possible reverse upwards and a new growth towards the resistance at 38.2% fibo at 1.2678.

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, the previous rising wave tested 38.2% fibo again, but couldn’t reach 50.0% fibo at 123.80. The current descending impulse is heading to break the low at 120.78 and then mid-term 76.0% fibo at 120.25.

In the H1 chart, the divergence made the pair start a new descending wave towards the low at 120.78.

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: 1.12849
• Open: 1.12841
• % chg. over the last day: -0.02
• Day’s range: 1.12841 – 1.12952
• 52 wk range: 1.1111 – 1.2009

The EUR/USD has stabilized. Trading instrument is in a lateral movement. EUR/USD quotes test key support and resistance levels at 1.12750 and 1.13150. The financial market participants took a wait-and-see attitude until important economic releases. We recommend tracking up-to-date information regarding trade negotiations between Washington and Beijing. Positions must be opened from key levels.

The Economic News Feed for 03.07.2019:

• – a number of indicators on business activity in Germany and the Eurozone – 10:55 (GMT+3:00) and 11:00 (GMT+3:00), respectively;
• – ADP Nonfarm Employment Change (Jun)- 15:15 (GMT+3:00);
• – Continuing Jobless Claims – 15:30 (GMT+3:00);
• – ISM Non-Manufacturing Business Activity (Jun) – 17:00 (GMT+3:00).

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

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

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

Trading recommendations

• Support levels: 1.12750, 1.12400
• Resistance levels: 1.13150, 1.13550, 1.13900

If the price consolidates below the local support of 1.12750, it will soon fall toward 1.12400-1.12200.

Alternatively, the quotes can recover toward 1.13400-1.13600.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.26374
• Open: 1.25907
• % chg. over the last day: -0.34
• Day’s range:
• 52 wk range: 1.25721 – 1.25999

GBP/USD continues to show a negative trend. The trading instrument again updated local minimums. GBP remains under pressure amid weak economic reports from the UK. In June, the index of business activity in the construction sector of the country slowed to 43.1 compared with the forecast value of 49.3. At the moment, GBP / USD quotes are testing the support level of 1.25700. Round level 1.26000 is the nearest resistance. The pound has the potential to further decline. Positions must be opened from key levels.

At 11:30 (GMT+3:00) the UK will publish an index of business activity.

he price has fixed below 50 MA and 100 MA, which indicates the power of the sellers.

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

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

Trading recommendations

• Support levels: 1.25700, 1.25300, 1.25000
• Resistance levels: 1.26000, 1.26350, 1.26650

If the price consolidates below 1.25700, a further drop in GBP/USD quotes is expected, towards 1.25400-1.25200.

Alternatively, the quotes could grow towards 1.26300-1.26500.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.31331
• Open: 1.31055
• % chg. over the last day: -0.29
• Day’s range: 1.30956 – 1.31136
• 52 wk range: 1.2727 – 1.3664

An ambiguous technical picture emerged on the USD/CAD. At the moment, Looney is consolidating in a fairly narrow range. Local levels of support and resistance are: 1.30950 and 1.31200, respectively. In the near future, correction of the USD/CAD quotes after a prolonged fall is not excluded. Additional pressure on the Canadian dollar is exerted by aggressive sales in the oil market. Today, the investors will evaluate important economic releases from the United States. Positions must be opened from key levels.

The Economic News Feed for 03.07.2019 is calm.

Indicators of accurate signals do not give: 50 MA crossed 100 MA.

The MACD histogram is close to the 0 mark.

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

Trading recommendations

• Support levels: 1.30950, 1.30600
• Resistance levels: 1.31200, 1.31500, 1.32000

If the price consolidates above the level of 1.31200, the quotes can correct toward 1.31500-1.31800.

Alternatively, the quotes can fall toward 1.30700-1.30500.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 108.427
• Open: 107.878
• % chg. over the last day: -0.56
• Day’s range: 107.533 – 107.913
• 52 wk range: 104.97 – 114.56

The USD/JPY currency pair has gone down. During yesterday’s and today’s trading, the drop in quotes exceeded 80 pips. The trading instrument has established new local minima. At the moment, the safe harbor currency is consolidating. The key support and resistance levels are 107.500 and 107.850, respectively. The focus of economic reports from the United States. The technical picture signals a further drop in the USD / JPY quotes. We recommend to open positions from key levels.

The Economic News Feed for 03.07.2019 is calm.

The price has fixed below 100 MA, which indicates the power of the sellers.

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

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

Trading recommendations

• Support levels: 107.500, 107.100, 106.800
• Resistance levels: 107.850, 108.100, 108.500

If the price consolidates below 107.500, the quotes can fall towards 107.200-107.000.

Alternatively the quotes can grow toward 108.100-108.300.

by JustForex

by JustForex

The US dollar does not show clear dynamics relative to the basket of major currencies. Yesterday, the US dollar index (#DX) closed the trading session with a slight decrease (-0.14%). Investors expect additional drivers and closely follow the US-China talks. Today, important economic reports will be published. We recommend paying special attention to statistical data from the United States: preliminary data on ADP nonfarm employment change; ISM non-manufacturing PMI. These releases may have a significant impact on the dynamics of currency majors in the short term.

The British pound was under pressure after the “dovish” statements by the Bank of England Governor, Mark Carney. The official said that the global trade war and the threat of no-deal Brexit were risks to the British economy, which might need additional measures to cope with a downturn. Also, weak data on the index of economic activity in the UK construction sector for June was published yesterday. The figure counted to 43.1, while experts forecasted 49.3.

The “black gold” prices have been recovering after a sharp collapse the day before. At the moment, futures for the WTI crude oil are testing the mark of $56.60 a barrel. At 17:30 (GMT+3:00) crude oil inventories will be published in the US.

Market Indicators

Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+0.26%), #DIA (+0.26%), #QQQ (+0.40%).

The 10-year US government bonds yield fell significantly. At the moment, the indicator is at the level of 1.94-1.95%.

– Indicators on economic activity in Germany and the Eurozone at 10:55 (GMT+3:00) and 11:00 (GMT+3:00), respectively;
– Services PMI in the UK at 11:30 (GMT+3:00);
– ADP nonfarm emloyment change at 15:15 (GMT+3:00);
– Initial jobless claims in the US at 15:30 (GMT+3:00);
– ISM non-manufacturing PMI at 17:00 (GMT+3:00).

by JustForex