InvestMacro

Analytics by JustForex

The EUR/USD currency pair

• Prev Open: 1.13803
• Open: 1.13010
• % chg. over the last day: -0.59
• Day’s range: 1.13205 – 1.13345
• 52 wk range: 1.1214 – 1.2557

Yesterday EUR/USD saw aggressive sell-offs. EUR is weakened against the USD due to the statements by the Mario Draghi that the EU economic reports are below the forecasted. However, the key interest rate remained without any changes, just as expected. You should open positions from the key levels of 1.13100 and 1.13400. The trading instrument begins to recover.

The Economic News Feed for 25.01.2019:

• – IFO Business Climate Index (GER) – 11:00 (GMT+2:00);
• – Basis Orders on Durable Goods (US) – 15:30 (GMT+2:00);
• – Primary Real Estate Sales (US) – 17:00 (GMT+2:00);

The indicators point to the power of the sellers, the price fixed below 50 MA and 200 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 near the overbought zone, the %K line is crossing the %D line. There are no signals.

• Support levels: 1.13100, 1.12850
• Resistance levels: 1.13400, 1.13700, 1.14000

If the price fixes below 1.130100 expect the EUR/USD quotes to fall toward 1.12850-1.12500.

Alternatively, the currency pair can grow toward 1.13700-1.14000.

The GBP/USD currency pair

• Prev Open: 1.30680
• Open: 1.30624
• % chg. over the last day: +0.39
• Day’s range: 1.30700 – 1.30890
• 52 wk range: 1.2438 – 1.4378

Yesterday, GBP/USD was in a variety of trends. The GBP was supported by the news that the Democratic Union Party of Northern Ireland decided to approve of the Theresa May`s Brexit plan next week. You should open positions from the key levels of 1.30600 and 1.31200. The trading instrument has prospects to descend further.

The Economic News Feed for 25.01.2019 is calm.

The indicators point to the power of the byers, the price fixed above 50 MA and 200 MA.

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

The Stochastic Oscillator is near the oversold zone, the %K line is below the %D line which points to a bearish mood.

• Support levels: 1.30600, 1.30000, 1.29500
• Resistance levels: 1.31200, 1.31600

If the price fixes below 1.30600, the quotes are going to fall towards the round 1.30000.

Alternatively, the quotes can rise toward 1.31600-1.31800.

The USD/CAD currency pair

• Prev Open: 1.33400
• Open: 1.33455
• % chg. over the last day: +0.08
• Day’s range: 1.33121 – 1.33278
• 52 wk range: 1.2248 – 1.3664

Yesterday USD/CAD remained in a variety of trends. Right now the technical picture is still ambiguous as the investors await the additional drivers. The key levels are 1.33100 and 1.33400. You should open positions from these levels and keep an eye on the oil quotes dynamics.

The Economic News Feed for 25.01.2019 is calm.

The price fixed between 50 MA and 200 MA which act as the dynamic support and resistance levels.

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

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

• Support levels: 1.33100, 1.32800, 1.32500
• Resistance levels: 1.33400, 1.33700

If the price fixes above the mirror support of 1.33400, consider buying USD/CAD. The price will move toward 1.33700-1.34000.

Alternatively the quotes can fall toward 1.32800-1.32500.

The USD/JPY currency pair

• Prev Open: 109.564
• Open: 109.625
• % chg. over the last day: +0.00
• Day’s range: 109.811 – 109.822
• 52 wk range: 104.56 – 114.56

USD/JPY is currently in a variety of trends. The investors are waiting for additional divers. The key levels are 109.700 and 110.000. You should open positions from these levels. Keep an eye on the US Treasury 10-year yield.

The Economic News Feed for 25.01.2019 is calm.

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 and above the signal line which gives a strong signal to buy USD/JPY.

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

• Support levels: 109.700, 109.400, 109.000
• Resistance levels: 110.000, 110.250

If the price fixes above the round 110.000 consider buying USD/JPY. The movement will tend toward 110.250-110.500.

Alternatively the quotes can fall toward 109.400-109.000.

Analytics by JustForex

by JustForex

The US dollar strengthened slightly against a basket of major currencies. Yesterday, the White House Press Secretary, Sarah Sanders, said that the US President, Donald Trump, would consider a bill to end the US government shutdown if it would contain funds to build a wall on the border with Mexico. It should be recalled that the US government has not worked for more than a month since December 22. The US dollar index (#DX) closed yesterday in the positive zone (+0.55).

The British pound strengthened against the US dollar amid news that the Democratic Unionist Party of Northern Ireland intends to support the Brexit plan proposed by Theresa May next week. On January 29, a vote on Theresa May’s Brexit plan B should take place.

The euro weakened against the US currency. Yesterday, the ECB left the interest rate unchanged at 0.00%, as experts expected. However, at the ECB press conference, Mario Draghi said that the economic data of the Eurozone is still lower than forecasted. The head of the ECB believes that economic growth will continue to slow down in the near future.

The “black gold” prices are rising due to concerns of reducing the supply of fuel from Venezuela. At the moment, futures for WTI crude oil are testing the mark of $53.60 per barrel. At 20:00 (GMT+2:00) the US Baker Hughes total rig count will be published.

Market Indicators

Yesterday, there was a variety of trends in the US stock market: #SPY (+0.05%), #DIA (-0.10%), #QQQ (+0.65%).

The 10-year US government bonds yield fell slightly. At the moment, the indicator is at the level of 2.74-2.75%.

– German IFO business climate index at 11:00 (GMT+2:00);
– Core durable goods orders in the US at 15:30 (GMT+2:00);
– New home sales in the US at 17:00 (GMT+2:00).

by JustForex

Article By RoboForex.com

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”

AUDUSD is trading at 0.7102; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the downside border of the cloud at 0.7130 and then resume moving downwards to reach 0.7040. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that Implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7165. In this case, the pair may continue growing towards 0.7280.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6777; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the upside border of the cloud at 0.6765 and then resume moving upwards to reach 0.6845. Another signal to confirm further ascending movement is the price’s rebounding from the channel’s upside border. However, the scenario that Implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.6730. In this case, the pair may continue falling towards 0.6630.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3346; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the upside border of the cloud at 1.3335 and then resume moving upwards to reach 1.3435. 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 cancelled if the price breaks the downside border of the cloud and fixes below 1.3300. In this case, the pair may continue falling towards 1.3185.

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: 1.13597
• Open: 1.13803
• % chg. over the last day: +0.24
• Day’s range: 1.13405 – 1.13738
• 52 wk range: 1.1214 – 1.2557

EUR/USD was in a bullish mood yesterday, but today the quotes started to descend. The investors are watching the US/China trading conflict. The key support and resistance levels are 1.13550 and 1.13850. You should open positions from these levels. The trading instrument has a tendency to descend.

The Economic News Feed for 24.01.2019:

• – Industrial PMI (GER) – 10:30 (GMT+2:00);
• – Key Interest Rate Announcement (EU) – 14:45 (GMT+2:00);
• – Composite PMI by Markit (US) – 16:45 (GMT+2:00);

The indicators do not provide precise signals, the price is testing 50 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 crossing the %D line. There are no signals.

• Support levels: 1.13550, 1.13200
• Resistance levels: 1.13850, 1.14100, 1.14500

If the price fixes above 1.13550 the quotes can descend further toward 1.13200-1.13000.

Alternatively the quotes can rise toward 1.14100-1.14300.

The GBP/USD currency pair

• Prev Open: 1.29565
• Open: 1.30680
• % chg. over the last day: +0.96
• Day’s range: 1.30273 – 1.30696
• 52 wk range: 1.2438 – 1.4378

Yesterday USD/CAD is in an aggressive buyout. The quotes have grown by 120 points. The financial market participants hope that the UK will avoid leaving the EU without an agreement. The key support and resistance levels are 1.30250 and 1.30750. A technical correction is possible soon.

The Economic News Feed for 24.01.2019 is calm.

The indicators point to the power of the buyers, the price is above 50 MA and 200 MA.

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

The Stochastic Oscillator is in the overbought zone, the %K line is crossing the %D line.

• Support levels: 1.30250, 1.29700, 1.29100
• Resistance levels: 1.30750, 1.31100

If the price is below 1.30250, expet the quotes to correct toward 1.29700-1.29500.

Alternatively, the quotes can grow toward 1.31100-1.31300.

The USD/CAD currency pair

• Prev Open: 1.32903
• Open: 1.33400
• % chg. over the last day: -0.10
• Day’s range: 1.33554 – 1.33575
• 52 wk range: 1.2248 – 1.3664

Yesterday USD/CAD was in a variety of trends, following a weak report on the retail sales. The basis index in November lowered by 0.6 while the experts were waiting for 0.4. The retail sales volume in November also lowered by 0.9% instead of 0.6%. The key support and resistance levels are 1.33400 and 1.33650. You should open positions from these levels.

The Economic News Feed for 24.01.2019 is calm.

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 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 gives a signal to sell USD/CAD.

• Support levels: 1.33400, 1.33100, 1.32800
• Resistance levels: 1.33650, 1.34000

If the price fixes above 1.33650, expect the quotes to grow toward 1.34000.

Alternatively the quotes can descend towar 1.33100-1.32800.

The USD/JPY currency pair

• Prev Open: 109.651
• Open: 109.564
• % chg. over the last day: +0.11
• Day’s range: 109.656 – 109.689
• 52 wk range: 104.56 – 114.56

USD/JPY is in an variety of trends. The investors are waiting for addtional drivers. The key support and resistance levels are 109.500 and 109.800, you should open positions from them. Keep an eye on the US Treasury 10-year bonds yield.

The Economic News Feed for 24.01.2019 is calm.

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

The MACD histogram is close to 0. There are no signals.

The Stochastic Oscillator is close to the overbought zone, the %K line is crossing the %D line. There are no signals.

• Support levels: 109.500, 109.200, 108.900
• Resistance levels: 109.800, 110.100

If the price fixes above the key resistance of 109.800 consider selling USD/JPY. The movement will tend toward 110.100-110.300.

Alternatively the quotes can fall toward 109.200-108.900.

Analytics by JustForex

By OilPrice.com

Saudi Arabia isn’t buying the peak oil demand narrative.

OPEC’s largest producer continues to expect global oil demand to keep rising at least by 2040 and sees itself as the oil producer best equipped to continue meeting that demand, thanks to its very low production costs.

Saudi Arabia will be the one to pump the last barrel of oil in the world, but it doesn’t see the ‘last barrel of oil’ being pumped for decades and decades to come.

“I don’t see peak [oil] demand happening in 10 years or even by 2040,” Amin Nasser, president and chief executive officer of Saudi oil giant Saudi Aramco told CNN Business‘ Emerging Markets Editor John Defterios on the sidelines of the World Economic Forum in Davos this week.

“There will continue to be growth in oil demand … We are the lowest cost producer and the last barrel will come from the region,” Nasser told CNN.

For several years, Nasser has been saying that peak oil demand is nowhere in sight, that petrochemicals will drive oil demand growth through 2050, and that all the ‘peak oil demand’ and ‘stranded resources’ talk is threatening an orderly energy transition and energy security.

Saudi Arabia—which has just announced that its huge oil reserves are slightly higher than previously estimated—looks to diversify its economy away from heavy dependence on crude oil, but one of the goals of its Vision 2030 diversification plan is to use less oil in domestic power generation to free up more barrels for exports.

As the world’s top crude oil exporter, Saudi Arabia will not be giving away easily its crown and the geopolitical clout that comes with it.

The Saudis have the two key ingredients to continue pumping oil till kingdom come—huge reserves and low production costs.

In addition, various organizations, including OPEC, estimate that shale production in the world’s current top oil producer—the United States—will peak at some point in the late 2020s, reviving demand for crude oil from OPEC (and its biggest oil producer Saudi Arabia).

Earlier this month, Saudi Arabia announced that an independent estimate of its oil reserves by DeGolyer and MacNaughton (D&M) showed that the Kingdom’s total proven oil reserves were 268.5 billion barrels as of the end of 2017, up from around 266 billion barrels previously estimated.

The BP Statistical Review of World Energy 2018 put Saudi Arabia’s oil reserves at 266.2 billion barrels at end-2017, or 15.7 percent of global oil reserves, second only to Venezuela’s 303.2 billion barrels.

DeGolyer and MacNaughton said last week that it completed the first contemporary independent assessment of reserves in Saudi Arabia, adding that at this point, it would “make no further comments on this extensive project.”

“This certification underscores why every barrel we produce is the most profitable in the world, and why we believe Saudi Aramco is the world’s most valuable company and indeed the world’s most important,” Saudi Energy Minister Khalid al-Falih said in the statement released by the Saudi Press Agency.

Saudi Aramco’s cost of production is just $4 a barrel, al-Falih later said in a news conference, as carried by Reuters.

Saudi Arabia may need oil prices higher than $80 a barrel to balance its budget because most of the income comes from oil. Yet, the Kingdom has what is probably the world’s lowest cost of pumping one barrel of oil.

While surging U.S. shale production has been boosting the global oil supply which Saudi Arabia and OPEC and non-OPEC Russia are looking to drain again with a new round of production cuts, current estimates point to shale peaking in the late 2020s.

According to the International Energy Agency (IEA), U.S. tight oil production will continue rising through 2025, and “Thereafter, with our current estimate for recoverable resources, production starts to fall gradually.”

In its latest World Oil Outlook, OPEC sees non-OPEC supply peaking in the late 2020s, mainly because of expected U.S. tight oil supply peak. In the medium term, through 2023, demand for OPEC crude is seen waning to 31.6 million bpd in 2023 because of non-OPEC supply growth. But after that, with the U.S. shale peak expected in the late 2020s, OPEC forecasts that demand for its crude will start rising again, to reach nearly 40 million bpd by 2040.

Will the world need oil in 2040? Saudi Aramco’s answer to this question is an emphatic ‘yes’.

The world will continue to need a lot more oil and a lot more exploration will be needed just to offset declining oil production at mature fields, Aramco’s Nasser said in Houston last year.

The energy transition is much more complex than simply replacing oil with renewables and electric vehicles (EVs), Nasser said last March and added: “In other words, I am not losing any sleep over ‘peak oil demand? or ‘stranded resources?.”

Link to article: https://oilprice.com/Energy/Crude-Oil/Saudi-Arabia-Well-Pump-The-Worlds-Very-Last-Barrel-Of-Oil.html

By Tsvetana Paraskova for Oilprice.com

by JustForex

The US dollar slightly weakened against a basket of major currencies. Investors’ attention is focused on the trade conflict between the US and China. Advisors to the President of the United States, Donald Trump, said that he did not intend to soften the hard line in trading with China, only if the country would buy more American goods. The US dollar index (#DX) closed in the negative zone (-0.17).

The British pound strengthened again relative to the US dollar. It seems that financial market participants hope that the UK will be able to avoid a chaotic exit from the European Union without an agreement. However, the future of Brexit is still unknown. The Government of Germany does not rule out the postponement of the Brexit.

Yesterday, the Canadian dollar weakened against the US currency after the publication of a weak report on retail sales. Thus, the core retail sales index declined by -0.6 in November, while experts expected a decline of 0.4%. Retail sales also fell by 0.9% in November instead of 0.6%. Today, during the Asian trading session, optimistic data on the Australian labor market have been published: employment level rose to 21.6K in December instead of 16.5K, and unemployment level fell to 5.0% in December instead of the expected 5.1%.

The “black gold” prices show negative dynamics. At the moment, futures for the WTI crude oil are testing the mark of $52.45 per barrel. At 18:00 (GMT+2:00), a report on crude oil inventories will be published in the US.

Market Indicators

Yesterday, the main US stock indices were recovering: #SPY (+0.21%), #DIA (+0.70%), #QQQ (+0.13%).

The 10-year US government bonds yield is at the level of 2.74-2.75%.

– German manufacturing PMI at 10:30 (GMT+2:00);
– ECB interest rate decision at 14:45 (GMT+2:00);
– Markit composit PMI in the US at 16:45 (GMT+2:00).

by JustForex

By Matthew Anthony, Alpari

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, there was a convergence on MACD that made GBPUSD start a new correctional uptrend, which has already reached the retracement of 23.6%. In the future, the correction may continue towards the retracements of 38.2% and 50.0% at 1.3153 and 1.3386 respectively. At the same time, there is divergence on MACD, which may indicate a possible short-term pullback. The key support level is at 1.2397.

In the H1 chart, the pair has been corrected to the downside by 23.6%. If a new rising impulse fails to break the current high at 1.3000, the price may start a new descending wave towards the retracements of 38.2%, 50.0%, and 61.8% at 1.2770, 1.2699, and 1.2628 respectively.

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, EURJPY is trading sideways between the retracements of 38.2% and 50.0%, but hasn’t reached the latter level yet. After breaking it, the instrument may continue growing towards the retracement of 61.8% at 127.34. The support level is still at 121.55.

In the H1 chart, the pair is being corrected to the downside and has already reached the retracement of 23.6%. The next possible targets of this correction may be the retracement of 38.2% at 122.37. The local resistance is at 125.09.

Article By RoboForex.com

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

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has completed the ascending impulse at 1.1368 along with the correction towards 1.1350, thus forming a new consolidation range. If the instrument breaks this range to the upside, the price may continue trading upwards to expand the range up to 1.1385; if to the downside – continue trading inside the downtrend with the short-term target at 1.1317.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has finished the five-wave ascending correction. Possibly, today the pair may start a new decline to reach 1.2875 and then form one more ascending structure towards 1.2922, thus forming a new consolidation range. If the instrument breaks this range to the downside, the price may move downwards to break 1.2825 and then continue trading inside the downtrend with the short-term target at 1.2693.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating below 0.9980. Today, the pair may reach 1.0000 and then start a new correction towards 0.9950. Later, the market may continue trading inside the uptrend with the short-term target at 1.0023.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the descending wave along with the correction at 109.66. Possibly, today the pair may form a new descending structure to reach 109.50 and then start a new growth towards 109.86. If the instrument falls and breaks 109.20, the price may continue trading inside the downtrend with the target at 107.70.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating near the lows. If the instrument breaks this range to the upside, the price may be corrected to reach 0.7155; if to the downside – continue trading inside the downtrend with the short-term target at 0.7104 and then form one more ascending structure towards 0.7158.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating above 66.61. Possibly, today the pair may grow to reach 66.75 and then start a new decline towards 65.91 to complete this wave. After that, the instrument may form a reversal pattern to start a new correction with the target at 67.67.

XAUUSD, “Gold vs US Dollar”

Gold has completed the ascending correctional structure at 1285.48. Today, the pair may start a new decline towards 1275.25. Later, the market may break this level and continue trading inside the downtrend with the short-term target at 1254.15.

BRENT

Brent has completed the descending wave. Possibly, today the pair may grow to reach 61.87 and then fall towards 61.21, thus forming a new consolidation range. If the instrument breaks this range to the upside, the price may continue trading upwards with the target at 63.95; if to the downside – continue the correction towards 57.57.

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.