InvestMacro

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.09119
• Open: 1.06560
• % chg. over the last day: -2.64
• Day’s range: 1.06547 – 1.08306
• 52 wk range: 1.0777 – 1.1494

The EUR/USD currency pair has stabilized after a significant drop. The sentiments of financial market participants improved slightly amid the global support measures taken by the central banks. At the moment EUR/USD quotes are consolidating. The key support and resistance levels are 1.06550 and 1.08200, respectively. Technical correction is not ruled out in the nearest future. We recommend opening positions from key levels.

At 16:00 (GMT+2:00) data on the existing home sales in US will be published.

Indicators do not give accurate signals: the price tests 50 MA, which is currently a dynamic resistance.

Histogram of MACD started to rise, which indicates a possible correction of the EUR/USD currency pair.

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

Trading recommendations

• Support levels: 1.06550, 1.06000
• Resistance levels: 1.08200, 1.09550, 1.10600.

If the price fixes above 1.08200, expect the qutoes to correct toward 1.09000-1.09700

Alternatively, the quotes could descend toward the round 1.06000.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.15803
• Open: 1.14620
• % chg. over the last day: -1.04
• Day’s range: 1.14096 – 1.18765
• 52 wk range: 1.1466 – 1.3516

GBP/USD quotes went up after a significant collapse. Pound has updated local highs. At the moment the trading instrument is testing the round level 1.19000. The mark 1.16600 is the nearest support. The GBP/USD currency pair has a potential for further correction. We recommend you to monitor the current information about the spread of the virus COVID-19. Open positions from key levels.

The news background on the UK economy is calm.

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

MACD has moved to the positive zone, which indicates the correction of the currency pair GBP/USD.

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

Trading recommendations

• Support levels: 1.16600, 1.14500
• Resistance levels: 1.19000, 1.21350

If the price fixes above the round level of 1.19000, expect a correction toward 1.19000.

Alternatively, the quotes could descend toward 1.15000-1.14000.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.45086
• Open: 1.45003
• % chg. over the last day: -0.06
• Day’s range: 1.42074 – 1.45359
• 52 wk range: 1.2949 – 1.4668

The USD/CAD currency pair shows a correction movement after a prolonged rally. The quotes have updated the local lows. The CAD is supported by the “black gold” price recovery. At the moment the trading instrument is testing the level of 1.41700. The round level 1.44000 is already a “mirror” resistance. The USD/CAD currency pair has a potential for further decline. Open positions from key levels.

At 14:30 (GMT+2:00) Canada will publish a report on retail sales.

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

MACD histogram is in the negative zone, which indicates further correction of USD/CAD quotes.

The Stochastic Oscillator is located in the oversold area, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.41700, 1.40150, 1.38750
• Resistance levels: 1.44000, 1.46600

If the price fixes below 1.41700, expect a correction toward 1.40200-1.39000.

Alternatively, the quotes could grow toward 1.45000-1.46000.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 108.042
• Open: 110.888
• % chg. over the last day: +2.16
• Day’s range: 109.329 – 111.359
• 52 wk range: 101.19 – 112.41

USD/JPY currency pair shows a pronounced upward trend. The quotes have renewed the local highs. Demand for safe haven currencies has weakened. At the moment the trading instrument is testing the “mirror” support level 109.500. The mark 111.300 is the nearest resistance. USD/JPY quotes have potential for further growth. We recommend you to pay attention to the dynamics of the US government securities yield. Open positions from key levels.

The Economic News Feed for 20.03.2020 is calm.

The indicators signal the power 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 USD/JPY.

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

Trading recommendations

• Support levels: 109.500, 108.500, 107.850.
• Resistance levels: 111.300, 112.000

If the price fixes above 111.300, expect further growth.

Alternatively, the quotes could descend toward 108.500-107.500.

by JustForex

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the daily chart, after reaching the post-correctional extension area between 138.2% and 161.8% fibo at 4780.75 and 3929.75 respectively, BTCUSD has started a new rising correction. After completing the pullback, the instrument may resume falling towards the long-term fractal low at 3121.90.

The H4 chart shows more detailed structure of the current correction. The pair has already reached 38.2% fibo and may yet continue growing towards 50.0% and 61.8% fibo at 7210.70 7987.75 respectively.

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the daily chart, after breaking the low at 116.06, the pair is rebounding from the psychologically important level at 100.00. At the same time, we should note that the current growth is just a rising correction. After finishing this pullback, ETHUSD may resume falling towards the long-term low at 80.86, as well as the post-correctional extension area between 138.2% and 161.8% fibo at 50.30 and 9.25 respectively.

In the H4 chart, the pair is correcting; it has already reached 23.6% fibo. In the future, the price may reach 38.2% and 50.0% fibo at 166.13 and 189.40. The support is the low at 89.80.

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 Admiral Markets

Source: Economic Events March 20, 2020 – Admiral Markets’ Forex Calendar

Volatility in forex markets and US yields remained dramatic over the last few days, and thus also in the highly yield-sensitive USD/JPY.

Interestingly enough, and despite the fear among market participants keeping selling pressure on Equities high, the USD/JPY saw a re-test of the region around 108.50/109.00.

While one explanation comes from the sharp bounce in US-Treasury yields back above 1.00%, in addition to the massive USD shortage and re-installation of swap lines with global central banks from the Fed on March 15, may have added to the demand in the currency pair.

Still, taking a step back, we expect volatility to continue to stay very high, seeing US yields under further pressure, and thus we favour the Short-side in the USD/JPY, with a potential driver being today’s Existing Home Sales numbers which are publish at 2pm GMT.

Any print that is significantly below markets expectation at 0.7% (MoM) would point to signs of significant negative impact from the Coronavirus pandemic on the US economy, and US yields could drop lower into the weekly close alongside the USD/JPY, making a test of the region around 105.00/30 into the weekly close an option.

On the other hand, we remain very cautious in regards to overly optimistic USD/JPY Short engagements. This is because not only do we expect further strong USD demand given the USD shortage, and usage of the re-installed swap lines of the Fed from the BoJ.

Source: Admiral Markets MT5 with MT5-SE Add-on USD/JPY Daily chart (between January 29, 2019, to March 19, 2020). Accessed: March 19, 2020, at 10:00pm GMT – Please note: Past performance is not a reliable indicator of future results, or future performance.

In 2015, the value of USDJPY increased by 0.5%, in 2016, it fell by 2.8%, in 2017, it fell by 3.6%, in 2018, it fell by 2.7%, in 2019, it fell by 0.85%, meaning that after five years, it was down by 9.2%.

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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.
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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.
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By Admiral Markets

By Alpari.com

By Alpari.com

By TheTechnicalTraders.com

Chris Vermeulen says money is moving just as it has in the past 5 waves of panic. This is a normal technical behavior in this type of market. There will be a huge move when money comes back into the stock market within several weeks. This will mark the first bounce in the bear market. All the countries of the world are pumping and dumping money into their economies.

Eventually, the music will come to an end. Dumping trillions may work out well for everyone, Americans, government, and investors. Whatever happens, it’s going to be a major plus for precious metals and mining stocks.

Click Here to Listen to the Audio

As a technical analysis and trader since 1997, I have been through a few bull/bear market cycles. I believe I have a good pulse on the market and timing key turning points for short-term swing traders.

Visit my ETF Wealth Building Newsletter and if you like what I offer, and ride my coattails as I navigate these financial markets and build wealth while others lose nearly everything they own during the next financial crisis.

Chris Vermeulen
TheTechnicalTraders.com

There’s a lot of misinformation in the financial news right now.

You have questions. Now get answers.

On Friday, March 20, at 1pm ET, our friends at Elliott Wave International will present a special webinar by their Global Markets Strategist, Brian Whitmer. Brian will present indicators that have stood the test of time and are critically important to investors at a time like this.

Brian will show you what you should be paying attention to right now… and, perhaps even more importantly, what you should ignore.

Join free now and watch the broadcast on Friday, March 20, at 1pm Eastern.

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Who is Elliott Wave International?
EWI is the world’s largest independent technical analysis firm. Founded by Robert Prechter in 1979, EWI helps investors and traders to catch market opportunities and avoid potential pitfalls before others even see them coming. Their unique perspective and high-quality analysis have been their calling card for nearly 40 years, featured in financial news outlets such as Fox Business, CNBC, Reuters, MarketWatch and Bloomberg.

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.0907; the instrument is moving below Ichimoku Cloud, thus indicating n descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.0925 and then resume moving downwards to reach 1.0595. 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 1.1115. In this case, the pair may continue growing towards 1.1205.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.5635; 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 0.5715 and then resume moving downwards to reach 0.5145. 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 0.6185. In this case, the pair may continue growing towards 0.6265.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 108.85; 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 108.30 and then resume moving upwards to reach 110.65. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 107.15. In this case, the pair may continue falling towards 106.25.

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 Elliott Wave International

On March 12, the date the DJIA closed lower more than 2350 points, the U.S. chief equity strategist for a major financial firm appeared on Bloomberg after the market close and opined that “90% of the damage has been done.”

He went on to affirm that if an investor’s time horizon is longer than two weeks, then yes, the stock market plunge represents a good buying opportunity.

Well, if that’s the sentiment after the DJIA had shed more than 28% (through March 12), then the downturn may have ways more to go than just another 10%. In other words, such financial confidence is usually not the prevailing sentiment near the end of a bear market.

Now, granted, this was just one opinion… except, it isn’t. The chief equity strategist’s sentiment is just one example of an entrenched financial optimism.

As our March 11 Elliott Wave Theorist says:

As yet, fear is nowhere near epic. … Relative to the size and breadth of the down days, TRINs have been remarkably low. All moving averages from 3 to 55 days are between 1.00 and 1.30, indicating nearly equal volume distribution in down stocks vs. up stocks. In other words, there has been no panic…

How do you know when a bear market is past its midpoint? Answer: when people stop cheering for lower prices.

A Bloomberg article reported, “Vanguard’s VOO attracted nearly $4.2 billion so far in March.” What is the VOO, you ask? It is an exchange-traded fund representing the S&P 500 that is “commonly used by retail investors.” The phrase, “so far in March,” means just over the past 7 trading days. Inflows in the down month of February were $8.3 billion. [The graph] tells you all you need to know: Each day, people think they are buying a low. When the real low arrives, they will be selling.

The scores of technical indicators that our analysts study are revealing a lot about the potential depth of the unfolding bear market.

Of course, our primary analytical tool is the Elliott wave model.

It tells us that, even though the market’s recent dramatic behavior is rare, it is not unprecedented. Meaning, we can see one or more scenarios of how things will progress from here.

The good news is that you can access our latest Elliott wave analysis 100% free.

You see, Elliott Wave International has been guiding investors through bull and bear markets since 1979. From that long experience, EWI’s team of experienced analysts know that at certain market junctures, they can help the most by providing their latest analysis free.

Now is one of those market junctures.

Elliott Wave International has just made the entire “Stocks” section of their flagship market letter, the monthly Elliott Wave Financial Forecast, available to all its free Club EWI members. It’s a rare opportunity to see what EWI’s subscribers are reading.

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This will help you understand how the markets got to this juncture — and, more importantly what’s likely next.

Also, please feel free to share this special excerpt with friends and family.

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, Gold is testing the support level. By now, it has formed several reversal patterns, such as Hammer. Possibly, the pair may reverse and start a new correction to reach 1535.00. However, one shouldn’t ignore another scenario, according to which the instrument may continue falling without any significant pullbacks. In this case, the downside target may be at 1450.00.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, after breaking the descending channel and forming a Hammer reversal pattern not far from the support level, NZDUSD is expected to reverse and get back to 0.5730. Later, the price may resume trading downwards. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may fall towards 0.5350 without forming any serious corrections.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the pair is no longer trading inside the descending channel. By now, GBPUSD has formed another Inverted Hammer reversal pattern close to the support level. Possibly, the pair may reverse and get back to 1.1850. Later, the market may continue the descending tendency. However, there is another scenario, which implies that the instrument may fall towards 1.1250 without reversing.

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 US dollar rose again relative to a basket of major currencies. The dollar index (#DX) closed in the positive zone (+1.74%). Countries around the world are developing measures to support economies that have suffered from the coronavirus pandemic. Thus, the US Senate has approved a bill to allocate billions of dollars to conduct free tests, pay sick leave and expand social insurance. Canada, in turn, published a massive stimulus package $82 billion worth in an attempt to cushion the blow from oil prices falling and the coronavirus pandemic. The Japanese government also discussed a package of measures that would include cash payments, and Germany decided to reduce the requirements for insurance capital stocks.

On Wednesday, the British pound fell to its lowest level against the dollar since 1985, and to more than a ten-year low against the euro due to concerns about coronavirus. During the Asian trading session, the Reserve Bank of Australia has lowered interest rates for the second time in a month, joining global central banks. The RBA urgently cut the rate to a record low of 0.25% and announced that it would not tighten its policy until it reached inflation targets.

The “black gold” prices have collapsed again. US senators have stepped up pressure on Saudi Arabia and Russia in order to stop the price war, which caused the collapse. Currently, futures for the WTI crude oil are testing the $23.55 mark per barrel.

Market indicators

Yesterday, there were aggressive sales in the US stock market: #SPY (-5.06%), #DIA (-6.60%), #QQQ (-3.04%).

The 10-year US government bonds yield rose slightly. At the moment, the indicator is at the level of 1.16-1.17%.

• – Initial jobless claims in the US at 14:30 (GMT+2:00);
• – Philadelphia Fed manufacturing index at 14:30 (GMT+2:00).

by JustForex