InvestMacro

Analytics by JustForex

The EUR/USD currency pair

• Prev Open: 1.12895
• Open: 1.13312
• % chg. over the last day: +0.39
• Day’s range: 1.13124 – 1.13373
• 52 wk range: 1.1214 – 1.2557

EUR/USD keeps showing a positive trend. Yesterday the quotes grew by 50 points. The trading instrument updated the local maximums. The US published weak economic reports. The EUR is currently consolidating around 1.130100-1.13400. The quotes can grow further, you should open positions from these levels.

The Economic News Feed for 14.03.2019:

• – Import/Export Price Index (US) – 14:30 (GMT+2:00);
• – Number of Primary Unemployment Applications (US) – 14:30 (GMT+2:00);
• – Primary Real Estate Sales (US) – 16:00 (GMT+2:00);

The price fixed above 50 MA and 200 MA which points to the power of the buyers.

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 started to leave the oversold zone, the %K line is above the %D line which also points to the bullish mood.

• Support levels: 1.13100, 1.12800, 1.12450
• Resistance levels: 1.13400, 1.13650, 1.14000

If the price fixes above 1.13400, expect the quotes to grow toward 1.14000.

Alternatively, the quotes can fall toward 1.12800-1.12600.

The GBP/USD currency pair

• Prev Open: 1.30747
• Open: 1.33169
• % chg. over the last day: +1.62
• Day’s range: 1.32393 – 1.33308
• 52 wk range: 1.2438 – 1.4378

During the last two days of trading, the GBP strengthened against the USD. The quotes grew by 200 points. The Birtish Parliament refused the hard Brexit. Today a new voote is planned to postpone Brexit. The quotes are consolidating around 1.32400-1.33150. You should open positions from these levels.

The Economic News Feed for 14.03.2019 is calm. Keep an eye on the reports from the US.

The price fixed above 50 MA and 200 MA which points toward the power of the buyers.

The MACD histogram is in the positive zone, the %K line is crossing the %D line. There are no signals at the moment.

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

• Support levels: 1.32400, 1.32000, 1.31500
• Resistance levels: 1.33150, 1.33750

If the price fixes above 1.33150, expect the quotes to grow toward 1.33700-1.34000.

Alternatively, the quotes can fall toward 1.31600-1.31300.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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The USD/CAD currency pair

• Prev Open: 1.33536
• Open: 1.32987
• % chg. over the last day: -0.42
• Day’s range: 1.32871 – 1.33197
• 52 wk range: 1.2248 – 1.3664

USD/CAD keeps showing a bearish mood. Yesterday the quotes set new local minimums. CAD is supported by positive oil prices and weak economic releases from the US. The key levels are 1.32850 and 1.33350. The quotes can fall further. You should open positions from the key levels.

The Economic News Feed for 14.03.2019 is calm.

The price fixed below 50 MA and 200 MA which points to the power of the buyers.

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

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which points toward a bearish mood.

• Support levels: 1.32850, 1.32350, 1.32000
• Resistance levels: 1.33350, 1.33850, 1.34200

If the price fixes below 1.32850, expect the quotes to correct toward 1.32400-1.32000.

Alternatively, the quotes can grow toward 1.33700-1.34000.

The USD/JPY currency pair

• Prev Open: 111.344
• Open: 111.274
• % chg. over the last day: -0.13
• Day’s range: 111.144 – 111.722
• 52 wk range: 104.56 – 114.56

USD/JPY started to grow and updated the local maximums. The quotes are at 111.750 with 111.450 actubg as a mirror support, and can grow further. Keep an eye on the US economic reports and open positions from the key levels.

The Economic News Feed for 14.03.2019 is calm.

The indicators point toward the power of the buyers, the price fixed above 50 MA and 200 MA.

The MACD histogram is in the postiive zone and above the signal line which points towards purchasing USD/JPY.

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

• Support levels: 111.450, 111.150, 110.900
• Resistance levels: 111.750, 112.000

If the price fixes above 111.750, expect the quotes to grow toward 112.000-112.250.

Alternatively, the quotes can fall toward 111.300-111.000.

Analytics by JustForex

by JustForex

The latest economic releases from the United States confirm the words by Fed Chairman, Jerome Powell, that the regulator has taken a wait-and-see attitude towards a change in monetary policy. Yesterday, the US dollar weakened against a basket of major currencies after the publication of weak statistics. Thus, core durable goods orders declined by 0.1% in January, although investors expected growth by 0.1%. Producer price index rose by only 0.1% in February instead of the expected growth by 0.2%. The dollar index (#DX) closed the trading session in the negative zone (-0.44%).

The pound strengthened by 2% against the “greenback” after yesterday’s vote in the UK Parliament. British lawmakers refused to exit the European Union without any agreements. Today, investors have taken a wait-and-see attitude before the UK Parliament vote on the extension of Brexit date, which expires on March 29. British Prime Minister, Theresa May, opposes Brexit without an agreement with Brussels. She still hopes to make a good deal for the UK and the EU.

Today, during the Asian trading session weak economic data have been published in China. Thus, the volume of industrial production in the country rose to 5.3% in February instead of 5.5%. Financial market participants expect new information on trade negotiations between Washington and Beijing. According to the US President, Donald Trump, negotiations between the United States and China are succeeding and China is seeking to conclude a beneficial deal for both countries.

The “black gold” prices have continued to rise amid a reduction in crude oil inventories in the US. At the moment, futures for the WTI crude oil have approached $58.65 per barrel.

Market Indicators

Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+0.66%), #DIA (+0.58%), #QQQ (+0.75%).

The 10-year US government bonds yield rose slightly. Currently, the indicator is at the level of 2.63-2.64%.

– Export and import price indices in the US at 14:30 (GMT+2:00);
– Initial jobless claims in the US at 14:30 (GMT+2:00);
– New home sales in the US at 16:00 (GMT+2:00).

We recommend closely following further development on the Brexit issue.

by JustForex

By Matthew Anthony, Alpari

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has reached the predicted target and returned to 1.1300. Possibly, today the pair may break the ascending channel. The first downside target is at 1.1240.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is forming another descending wave. Today, the pair may form the fifth structure towards 1.2955.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating near the lows of the Flag pattern. Possibly, today the pair may form a new ascending structure to break 1.0094 and then continue trading inside the uptrend with the first target 1.0160.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has reached the correctional target; right now, it is consolidating below 111.36. Possibly, the pair may break the Triangle pattern to the downside and reach the target of the fifth structure at 110.57.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is moving downwards. The short-term target is at 0.6967.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has completed the descending impulse; right now, it is consolidating around 65.65. Possibly, today the pair may break the range downwards and reach 65.15. However, if this level is broken as well, the instrument may continue trading inside the downtrend with the target at 64.95.

XAUUSD, “Gold vs US Dollar”

Gold has reached the upside target at 1305.11. Today, the pair may start consolidating. Later, the market may break the range downwards and form one more descending wave with the target at 1276.80.

BRENT

Brent is still consolidating around 66.62. According to the main scenario, the pair may break it upwards and continue growing to reach the target at 68.40. After that, the instrument may start a new correction towards 63.65.

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.

Analytics by JustForex

The EUR/USD currency pair

• Prev Open: 1.12474
• Open: 1.12895
• % chg. over the last day: +0.33
• Day’s range: 1.12774 – 1.12968
• 52 wk range: 1.1214 – 1.2557

Yesterday EUR started to recover against the USD. EUR/USD quotes updated the local maximums. USD is under pressure after weak inflation report fro the US. The basis index on consumer goods in February grew by 0.1% which is lower than the expected growth of 0.2%. EUR/USD is consolidating around 1.12650-1.13000. The quotes can correct further. The market participants are waiting for important statistical reports. The Brexit vote in the UK parliament is in the spotlight. You should open positions from the key levels.

The Economic News Feed for 13.03.2019:

• – Industrial Production Volume (EU) – 12:00 (GMT+2:00);
• – Report on Orders of Durable Goods (US) – 14:30 (GMT+2:00);
• – Manufacturers’ Price Index (US) – 14:30 (GMT+2:00);

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

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

The Stochastic Oscillator is in the neural zone, the %K line is above the %D line which points toward a bullish mood.

• Support levels: 1.12650, 1.12450, 1.12200
• Resistance levels: 1.13000, 1.13200, 1.13450

If the price fixes above 1.13000, a further correction is expected toward 1.13400-1.13600.

Alternatively, the quotes can fall toward 1.12300-1.12000.

The GBP/USD currency pair

• Prev Open: 1.31890
• Open: 1.30747
• % chg. over the last day: -0.67
• Day’s range: 1.30621 – 1.31569
• 52 wk range: 1.2438 – 1.4378

Volatility and trading activity in GBP reached a maximum since June 2016. Yesterday the UK currency was under pressure because of the Brexit vote. British parliament refused to accept the deal proposed by Theresa May, today there will be a new vote on leaving without a deal at all. Most experts agree that hard Brexit will greatly damange the country economy. Today GBP/USD recovered the majority of the losses. The key trading range is 1.31000-1.31550. Keep an eye on the Brexit vote.

Spring forecast for the UK budget will be published at 14:30 (GMT+2:00)

The indicators do not provide precise signals, the price has crossed 50 MA and 200 MA.

The MACD histogram is close to 0.

The Stochastic Oscillator is in the overbought zone, the %K line is above the %D line, which gives a weak signal to buy GBP/USD.

• Support levels: 1.31000, 1.30600, 1.30150
• Resistance levels: 1.31550, 1.32000, 1.32500

If the price fixes above the 1.31550, look for the market entry points to open long positions. The price will move toward 1.32000-1.32500.

Alternatively, the quotes can fall toward 1.30600-1.30200.

The USD/CAD currency pair

• Prev Open: 1.33944
• Open: 1.33536
• % chg. over the last day: -0.24
• Day’s range: 1.33486 – 1.33711
• 52 wk range: 1.2248 – 1.3664

USD/CAD started to descend. Yesterday the trading instrument updated the local minimums. USD/CAD quotes found support at 1.33500 level. 1.33850 acts as a mirror resistance. USD is under pressure due to weak inflation reports. CAD is additionally supported by the positive oil quotes dynamic and can correct further. Keep an eye on the US economic reports.

The Economic News Feed for 13.03.2019 is calm.

The indicators do not provide precise signals, the price has crossed 200 MA.

MACD 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 is crossing the %D line. There are no signals at the moment.

• Support levels: 1.33500, 1.33000
• Resistance levels: 1.33850, 1.34200, 1.34600

If the price fixes below 1.33500, expect further correction toward the round 1.33000.

Alternatively, the quotes can grow toward 1.34200-1.34500.

The USD/JPY currency pair

• Prev Open: 111.003
• Open: 111.205
• % chg. over the last day: +0.23
• Day’s range: 111.193 – 111.464
• 52 wk range: 104.56 – 114.56

USD/JPY shows an ambigous technical picture. The quotes are consolidating around 111.200-111.500. The demand for safe assets growth due to the Brexit vote. The investors are waiting for the US inflation report. You should open positions from the key levels.

The Economic News Feed for 13.03.2019 is calm.

The indicators do not provide precise signals, the price fixed between 50 MA and 200 MA.

The MACD histogram is in the positive zone and keeps rising, which points toward a bullish mood.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line which points toward the growth of the USD/JPY quotes.

• Support levels: 111.200, 110.900, 110.600
• Resistance levels: 111.500, 111.800, 112.000

If the price fixes below 111.200, expect the quotes to fall toward 110.900-110.700.

Alternatively, USD/JPY can correct toward 111.800-112.000.

Analytics by JustForex

By TheTechnicalTraders.com

Recent news that Theresa May was unable to convince members of Parliament to even consider her current deal as well as the future political and societal consequences of any failure to move ahead with an orderly Brexit deal.  The question before traders and investors is how will this reflect in the global markets and how will currencies react to this new?

The GBP (British Pound) appears to be poised to a breakdown move aligning with our Fibonacci Arc structures.  These arc structures help us to understand where “inflection points” are likely in the markets and where bigger moves may initiate.  The current Arc level, near current price, is indicating that any failure of an upside move will likely prompt a downside move to near 0.739 – or lower.

The overwhelming vote to deny Theresa May’s Brexit deal came down to 391 Against and 242 For the current Brexit deal.  It is likely that the British Parliament will continue to break down into warring factions as a contentious future political outcome will play out.  The people of Britain are still wanting to complete the Brexit while it appears Parliament has yet to come to terms with the process.

We believe this current event will be somewhat isolated to Britain and European nations, yet be believe there could be a larger contagion even if other nations attempt to push their desires to leave the EU as well.  Overall, time will tell how this plays out with global investors.  Our first impressions are that the global markets will move lower on this news and that currencies could find new weakness as this chaos continues.

Please take a minute to visit www.TheTechnicalTraders.com/FreeResearch/ to read all of our most recent research – including our very details 5-part global economic research post.  This post is very important because it shows you predicted price levels going all the way into 2021 and highlights why this “new bull market” may just be getting started.  Find out why www.TheTechnicalTraders.com is dedicated to helping you find and execute better trades and stay ahead of these market moves.

Chris Vermeulen

TheTechnicalTraders.com

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD is forming another descending impulse. After breaking the low at 1.2960, the price may continue falling towards the retracements of 50.0% and 61.8% at 1.2873 and 1.2762 respectively. The key resistance level is the high at 1.3350.

In the H1 chart, after finishing a quick descending movement, the pair has started a new correction. Right now, the price is trading between the support and the resistance levels at 1.2960 and 1.3288 respectively. In this case, the instrument is expected to break 1.3288 and then continue growing to reach the high at 1.3350. If the pair breaks the high as well, the price may continue the uptrend towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3396 and 1.3465 respectively.

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, EURJPY is being corrected upwards. After finishing the correction and breaking the low at 124.27, the price may resume falling to reach the retracements of 38.2% and 50.0% at 123.85 and 122.73 respectively.

The H1 chart shows more detailed structure of the current correctional uptrend. The price is trading towards the retracements of 50.0% and 61.8% at 125.88 and 126.27 respectively.

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 British pound was under pressure after the Brexit vote in the UK Parliament. So, the House of Commons did not support again the Brexit deal offered by Theresa May. 391 members of Parliament spoke against the deal, 242 supported. Today, a new vote on the no-deal Brexit is to be held. If lawmakers vote against it, then on Thursday a vote on the Brexit delay will be held.

According to most economists, the “tough” Brexit will cause significant damage to the country’s economy. Pound has recovered some of the losses during early London trading session on Wednesday. Most financial market participants expect British lawmakers to vote against no-deal Brexit. Pound is additionally supported by positive economic data from the UK. Thus, manufacturing production increased by 0.8% in January instead of the forecasted growth by 0.2%. Monthly GDP (3m/3m) also showed growth by 0.5% instead of 0.2%.

The US dollar weakened against a basket of major currencies after the publication of weak economic data. Thus, the core consumer price index rose only by 0.1% in February, while experts expected growth by 0.2%. The dollar index (#DX) closed the trading session in the negative zone (-0.28%). Today, investors also expect the publication of important economic data from the US.

The “black gold” prices are rising after the publication of the API data on the reduction of stocks in the US. At the moment, futures for the WTI crude oil have approached $57.25 per barrel. At 16:30 (GMT+2:00), a report on the EIA crude oil inventories will be published in the US.

Market Indicators

Yesterday, there was a variety of trends in the US stock market: #SPY (+0.38%), #DIA (-0.35%), #QQQ (+0.55%).

The 10-year US government bonds yield has been declining. Currently, the indicator is at the level of 2.61-2.62%.

– Preliminary data on the annual budget in the UK at 14:30 (GMT+2:00);
– Statistics on durable goods orders in the US at 14:30 (GMT+2:00);
– Producer price index in the US at 14:30 (GMT+2:00).

We recommend closely following further development on the Brexit issue.

by JustForex

By Matthew Anthony, Alpari

By George Prior

The credible way to end Brexit gridlock and give UK and global business much-needed certainty is with a second referendum, affirms the CEO of one of the world’s largest independent financial advisory organizations.

The comments from Nigel Green, the founder and chief executive of deVere Group, come as the UK and the EU are preparing themselves for the most critical vote on Brexit since the 2016 referendum.

This evening MPs will decide whether to accept the Brexit deal struck by Prime Minister Theresa May and the EU after she has won, according to Downing Street, “binding” assurances from the EU over the controversial Irish backstop.

The last time Mrs May’s withdrawal agreement was put to Parliament in January, it was voted down by a margin of 230.

Mr Green observes: “Most legal experts agree that the much-hyped revised agreement does not, in reality, significantly change anything regarding the Irish backstop.

“In all probability, it will, therefore, be rejected once again in the House of Commons by MPs who handed Theresa May the biggest parliamentary defeat in history on this very issue in January.”

He continues: “As such, the decision remains a political one – and therein lies the main problem. There is no majority in parliament for any one way forward.

“What most people across the UK, as well as British and global business, do want though is an end to the paralysing gridlock and uncertainty.

“Politicians have proven themselves to be incapable of resolving this impasse in parliament.

“Therefore, the sensible – probably the only – way through is to give it back to the people, giving them accurate, unambiguous information in order to allow them to make an informed choice on the final deal.”

He goes on to add: “Any new vote must also include the 700,000-plus British expats who are disenfranchised from the UK political system after 15 years overseas and subsequently denied the vote on something that directly affects them.

“All other G7 countries except the UK allow their citizens voting rights for life. Why is Britain different? It is especially galling as they are potentially still liable for UK inheritance tax but are not allowed to vote in the UK after 15 years.”

There is mounting evidence that the public mood is increasingly concluding that the people need a final say in the Brexit process.

On Saturday 23 March, The Put It To The People march will take place in London – just six days before the UK is meant to leave the European Union. It is likely to run along the same lines as the rally on 20 October, which attracted an estimated 670,000 people.

The deVere CEO concludes: “There is no parliamentary majority for any Brexit option. Allowing the public to vote and giving them a final say is quite simply the only credible solution we now have available.”

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.