InvestMacro

The Energy Report

Source: Streetwise Reports   08/27/2019

A disconnect surrounding the company’s EBITDA multiple is discussed in a Raymond James report.

In an Aug. 20 research note, analyst Pavel Molchanov reported that Raymond James upgraded its recommendation on TPI Composites Inc. (TPIC:NASDAQ) to Strong Buy from Outperform, “the first time we have done so since its initial public offering in 2016.”

TPI is currently trading at around $17.69 per share, which compares to Raymond James’ target price on it of $32 per share. The stock is down around 29% year to date, but the clean tech index is up 38% during that same period.

This is the case despite the Arizona-based company accomplishing “the rare feat of double-digit, organic topline growth every year since 2012,” and becoming a $1.5 billion topline enterprise,” described Molchanov.

TPI stock rerated to a 4.7x EBITDA multiple, which is its lowest ever and seemingly “overly beaten down,” Molchanov highlighted, suggesting that margin risk is fully baked in. Yes, inherent in the company’s business model are production line transitions, but the resulting valuation haircut seems too high, the analyst noted.

TPI “should not be trading like a mature cyclical business,” wrote Molchanov. This is especially the case because TPI has begun to diversify its revenue sources by moving into manufacturing composites for electric vehicles, now buses and potentially trucks in the future, and these efforts are still early stage. For example, only 9% of revenue in Q2/19 came from this other area. “Given where the stock is, we look at expansion in electric vehicles as an essentially free option,” he added.

In conclusion, Molchanov indicated that Raymond James, accounting for TPI’s expected growth in the wind and the electric vehicles market, estimated the energy company’s revenue will increase by an average of 10–15% annually and, thus, potentially double EBITDA growth.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Disclosures from Raymond James, TPI Composites Inc., August 20, 2019

ANALYST INFORMATION

Analysts Holdings and Compensation: Equity analysts and their staffs at Raymond James are compensated based on a salary and bonus system. Several factors enter into the bonus determination, including quality and performance of research product, the analyst’s success in rating stocks versus an industry index, and support effectiveness to trading and the retail and institutional sales forces. Other factors may include but are not limited to: overall ratings from internal (other than investment banking) or external parties and the general productivity and revenue generated in covered stocks.

The analyst Pavel Molchanov, primarily responsible for the preparation of this research report, attests to the following: (1) that the views and opinions rendered in this research report reflect his or her personal views about the subject companies or issuers and (2) that no part of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views in this research report. In addition, said analyst(s) has not received compensation from any subject company in the last 12 months.

RAYMOND JAMES RELATIONSHIP DISCLOSURES
Certain affiliates of the RJ Group expect to receive or intend to seek compensation for investment banking services from all companies under research coverage within the next three months.

Raymond James & Associates, Inc. makes a market in the shares of TPI Composites, Inc..

Additional Risk and Disclosure information, as well as more information on the Raymond James rating system and suitability categories, is available here.

( Companies Mentioned: TPIC:NASDAQ,
)

By Orbex

After the equivalent of three interest rate cuts in a little over half a year, you generally expect the change in monetary policy to have had some effect on the economy. That is why analysts are going to be interested in the data the be released later tonight! The upcoming data will give us an understanding of where the trends are going.

The NZDUSD has been sliding down at an almost constant pace since the last meeting of the RBNZ. In part, we can attribute that to the expectation of further easing, which Governor Orr has done his best to transmit to the market.

The question now is where to expect a floor, and what kind of fundamentals would we expect to see before the pair turns around.

What We Are Looking For

We expect business confidence in New Zealand to decline further to -51.1 compared to -44.3 in last month’s survey. This would put it basically on par with August of last year, and continue the worsening trend seen since summer.

Some seasonal fluctuation isn’t exactly extraordinary. Outlook tends to diminish during the winter. However, several economists have been expressing concern over the business outlook, and the lack of drive to improve the economy over the next year.

The Details

The headline number is the one likely to move the markets. However, traders might also want to look at the components to get some insight into future trends. Particularly relevant to the currency is the pricing component, which last month showed that the leading businesses kept the same expectations as prior. This means that they did not expect inflation to increase much, despite the RBNZ’s actions.

Another factor is employment intentions. These turned negative last month, showing businesses intend to not only hire fewer people but potentially cut employment over the next year.

Investment intentions actually turned negative for the first time this year. This shows that businesses are planning less capital expenditure this year, another factor that will put pressure on the currency.

The Broader Situation

Many traders are looking at the virtually straight line in the NZD graph and speculating about a “return to the 90s.” The 90s is when there was relatively little volatility in the kiwi. One of the factors that economists point to is that the entire market is being depressed by a single major event that is impervious to domestic action: the US-China trade war.

This doesn’t exactly coincide with the reversal in business sentiment, however, which turned negative in late 2017 and hasn’t recovered since. It’s a lot closer to matching the fallout from the last general election.

Several leading economists in New Zealand tried to explain this situation in a symposium on Monday. They came to the conclusion that domestic action would have little effect on both the economic outlook and the currency.

New Zealand’s Unique Position

While global economic concerns keep investors inclined towards safe havens, commodity currencies such as the NZD are likely to remain under pressure. But, the Kiwis are in a somewhat unique position in that their exports to China are primarily consumer goods for the domestic market. Chief among them is dairy – and China’s domestic market remains vibrant despite the trade war.

If this economic analysis is correct, we could see a continuation of the data trends. And this would frustrate the RBNZ. The question is whether they acknowledge they can’t influence the situation, or they double down on more easing. And a lot of analysts are betting on the latter!

By Orbex

By Money Metals News Service

While most market analysts who have denied central bank and government intervention against gold have long since gone silent on the issue, Managing Partner Jeff Christian of metals consultancy CPM Group continues to disparage such complaints as “conspiracy theory.”

In an interview last week with Money Metals Exchange’s Mike Gleason, Christian tries to reduce the issue to what he considers ordinary and small-time market manipulation by individual traders.

“We don’t see grand conspiracies and we see a tremendous amount of evidence that these grand conspiracies do not exist,” Christian says.

That is, Christian doesn’t see the monthly interventions of the Bank for International Settlements in the gold market on behalf of its central bank members, interventions confirmed by the bank’s own monthly statements of account.

He doesn’t see the “central bank incentive program” of trading discounts extended by CME Group, operator of the major U.S. futures exchanges, to governments and central banks for their surreptitious trading of all major futures contracts, including gold and silver.

He doesn’t see the refusal of the U.S. Treasury Department and Federal Reserve to answer U.S. Rep. Alex Mooney’s questions about which markets they are secretly trading in and why.

He doesn’t see the closed meetings regularly held by the major international financial organizations, from the BIS to the International Monetary Fund to the G-7 Gold and Foreign Exchange Committee, wherein intervention policy is formulated and implemented in secret — the very definition of “conspiracy.”

Christian disparages “the guys who make their living marketing conspiracy theories,” but fails to acknowledge that his company is a consultant to central banks and might lose some business if it inquired too much about what they are doing in secret.

Of course far better livings are made by shilling for central banks and governments than by investigating and criticizing them.

Asked if central banks have the ability to suppress monetary metals prices, Christian replies: “I don’t know if they have the ability, but I don’t think they have the desire.” He minimizes gold’s place in the world financial system, calling the monetary metal “a meaningless moniker” and “a footnote.” But then why would central banks bother consulting with CPM Group in the first place? And why would so many central banks lately have been announcing gold acquisitions?

This is what is left of those who deny that central banks intervene against gold.  Listen to the full interview here.

The Money Metals News Service provides market news and crisp commentary for investors following the precious metals markets.

By Orbex

You might have stumbled upon the vast world of Forex trading when scouring the internet for new ways to invest. Or perhaps you heard about it from a friend or colleague or saw it on the news.

Given its immense popularity and intricate nature, Forex trading can seem daunting to those just starting out. So we’ve broken down everything you need to know about beginning your trading journey in the Forex markets.

What Does Forex Mean?

Forex is the abbreviation used for FOR-eign EX-change. It is a market that deals with the exchange of currencies and it is one of the largest markets in terms of trading volumes. It is estimated that the average daily trading volumes in the Forex markets are upwards of $5 trillion.

But don’t get intimidated by these figures. Over 95% of this turnover comes from the interbank markets, which brings us to the next question.

Is There A Simple Way To Understand Forex?

Yes, there is! As you might have guessed, in Forex, you are basically trading one currency for another. But remember that you are only speculating on the currencies! You are in no way physically purchasing a currency to be delivered to you when you are trading Forex.

This is in contrast to, for example when you travel abroad. You might have visited a foreign exchange broker on your last holiday and converted your USD to EUR or your GBP to AUD. That is real-life Forex. You’ve physically exchanged one currency for its value of another currency.

In retail forex trading, no such thing happens. You are merely speculating on how one currency will fare, compared to the other and vice versa.

You could, of course, physically convert your holiday USD to EUR simply to take advantage of the euro’s appreciation. However, you’d have to go back to the money exchange office and convert your euros back to dollars, therefore getting you more dollars!

However, you would probably take a loss overall on exchange commissions the broker would charge.

What Do I Need To Access Forex Trading?

As an FX trader, you must trade through a Forex broker that will connect you to the markets. This is similar to how you would trade stocks for example, where you can’t buy and sell shares directly. You need an intermediary for it.

A Forex broker basically does just that. They connect you to the liquidity pool. Bear in mind that the Forex markets are traded over-the-counter (OTC trading). This is in contrast to stocks for example. In an OTC market, you are basically trading with a counterparty, that you wouldn’t know in most cases.

A Forex broker takes your order to buy or sell and passes it further down the line where your order is filled.

What Should I Know Before I Start Forex Trading?

One of the unique things about the Forex markets is that you are primarily trading two currencies at the same time. So, when you buy EURUSD, you are buying the EUR and selling the USD at the same time.

This is quite different from other markets such as bonds or stocks, where you outright buy the underlying instrument. The instrument that you buy, the EURUSD, is known as the currency pair.

The minimum price movement in a currency pair is one pip, which is the fourth decimal.

Typically, you might be used to measuring currencies up to cents. This is the second decimal in a currency rate. But if you dig deeper and get to the fourth decimal, that is known as a pip. A pip is a unit of measurement and is used for Forex trading and speculation purposes only.

So, depending on your view on how one currency will perform in relation to the other, you would buy or sell that currency pair. That is Forex trading. The amount of pips that the currency pair moves is the amount of money you can make.

Of course, the profīts might seem minimal, after all, a 10 pip move is negligible. FX traders use something called leverage to make that more valuable. This helps them to magnify the small profīts into large ones (and the same with losses too).

The above information gives a basic overview of how to get started with Forex trading. We should also caution you that trading Forex is risky. Therefore, it is not suited for everyone. You should analyze the risks and invest only money that you can afford to lose.

By Orbex

By George Prior

As the pound nosedives and the UK faces a looming recession, those with UK financial assets – including UK pensions, bonds and sizeable holdings of sterling – should consider international options to protect their wealth.

This is the message from the chief executive and founder of deVere Group, Nigel Green, after the Queen accepted UK Prime Minister Boris Johnson’s government request to suspend parliament from mid-September.  The move now reduces the time available to MPs to block a no-deal Brexit.

Mr Green affirms: “The already Brexit-battered pound has taken yet another hammering thanks to Boris Johnson’s highly controversial suspension of parliament.

“Sterling is down more than 0.5% against both the euro and U.S. dollar as a result of the political manoeuvring.

“The pressure will remain on for the pound for the foreseeable future as the possibility of a no-deal Brexit increases.  Should the UK leave with no-deal, the pound is likely to remain weak for several years until the country and the bloc readjusts.

“In addition, the likelihood of a general election is weighing on the currency.

“And should a Corbyn-led Labour party win such an election, there will be even more longer-term bad news for the pound. His anti-business rhetoric, and high tax and low-profit policies would lead to a considerable and sustained selling of the pound.

“There’s also now the serious possibility of a general strike, mass protests and civil disobedience as political uncertainty intensifies.”

He adds: “This critical period for Brexit negotiations is also happening as the UK economy is potentially on the brink of a harmful recession which will deliver another bloody nose to investment, trade and confidence in the UK.”

Mr Green continues: “Looking at the nose-diving pound and a looming UK recession, the outlook is somewhat bleak in Britain. Those with UK financial assets – including UK pensions, bonds and sizeable holdings of sterling – should now perhaps consider the available international options to protect their wealth.”

Earlier on Wednesday, the deVere CEO noted: “Boris Johnson’s decision to suspend parliament will have far-reaching economic effects, many of which will not be known for years to come.”

He concludes: “Those who are serious about building and safeguarding their assets should explore legitimate overseas options as the UK moves into an unprecedented crisis.”

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 IFCMarkets

Getting ready for publication of economic data in Japan

The British Labor Party, along with other opposition movements, said they would not allow the country to leave the European Union without a mutual agreement. Will the GBPJPY quotations grow?

The upward movement indicates strengthening of the British pound and weakening of the Japanese yen. Earlier, the British Prime Minister, a representative of the Conservative Party, Boris Johnson, said that Britain would leave the EU on October 31, 2019, regardless of whether the agreement was signed or not. The parliamentary opposition of Great Britain is going to force the prime minister to either postpone Brexit or conclude an agreement with the European Union. To do this, it can block the adoption of the necessary laws. French President Emmanuel Macron said that he was ready to help in softening the conditions for Britain to exit the EU. Concluding a Brexit agreement can significantly reduce economic risks for the British economy and help strengthen the pound. In turn, macroeconomic data may have a negative impact on the yen. August 30, 2019 will be published: inflation in Tokyo, unemployment, retail sales, data on the number of start of construction of houses and other indicators. Most forecasts look negative. In addition, the yen is considered by investors as a protective asset in case of increasing global risks. It may fall in price amid US-Chinese trade negotiations.

On the daily timeframe GBPJPY: D1 adjusted upward from the low since October 2016. Before opening a buy position, a downtrend resistance line should be broken.Various technical analysis indicators have generated signals to increase. Further growth of quotes is possible in case of positive news about Brexit and negative macroeconomic data in Japan.

• The Parabolic indicator demonstrates a signal to increase.
• TheBolinger bands greatly expanded, indicating high volatility. The bottom line of the Bollinger has a slope up.
• The RSI indicator is above the mark of 50. It has formed a divergence to increase.
• The MACD indicator gives a bullish signal.

The bullish momentum may develop if GBPJPY exceeds the last upper fractal and the downtrend resistance line: 131. This level can be used as an entry point. The initial stop lose may be placed below the last lower fractal, Parabolic signal and the minimum since October 2016: 126.5. After opening the pending order, the stop shall be moved following the Bollinger and Parabolic signals to the next fractal minimum. Thus, we are changing the potential profit/loss to the breakeven point. More risk-averse traders may switch to the 4-hour chart after the trade and place a stop loss moving it in the direction of the trade. If the price meets the stop level (126,5) without reaching the order (131), we recommend to cancel the order: the market sustains internal changes that were not taken into account.

Technical Analysis Summary

Market Analysis provided by IFCMarkets

By Orbex

GBP has received further support this week. This came in response UK opposition MPs agreeing on a strategy to block PM Johnson from forcing a no-deal Brexit.

Media attention has recently focused on Labour leader Jeremy Corbyn’s plan for a vote of no confidence against Johnson. However, a group of cross-party MPs has now said that it will focus on working to legislate against such a move.

Joint Statement

MPs released a joint statement following a meeting called by Corbyn. in it, the MPs said that Corbyn’s vote of no confidence plan remains an option. However, they affirmed that they will instead focus on “the legislative way forward”. 

Green MP Caroline Lucas claimed that this is “the most secure way to extend Article 50, to get rid of that 31 October deadline” and stop Johnson “careering towards” a no-deal.

MPs are looking to replicate the legislative process used back in April to require Theresa May to request an extension to Article 50. MP’s will essentially attempt the exact same thing this time around. However, they will first have to succeed in taking control of the parliamentary timetable. They need to do that in order to schedule a debate for the law to be changed, and in time!

Emergency Debate

One method would be to call an emergency debate in the House of Commons. Emergency debate motions, which usually regard topical matters added to the parliamentary business at short notice, are typically unamendable. This means John Bercow, the Speaker of the House of Commons, would need to rule this one as amendable.

Corbyn has been highly active in arguing the case for a vote of no confidence. His plan outlines that if Johnson loses, Corbyn would be installed as a temporary PM. Then, he would request an extension to Article 50, call a general election and campaign in support of a second referendum.

Lib Dems Against Corbyn Plan

However, Corbyn’s plan has been divisive, at best. And Lib Dem leader Jo Swinson said that her party will not support a plan which includes Corbyn becoming PM, even temporarily. However, Swinson did concede that Corbyn’s plan “remains a last resort, if you like, to be able to enforce the will of Parliament, but the main proposal is going down the legislative route”.

The SNP’s Ian Blackford also attended the cross-party meeting. He claimed the talks had been “positive and productive”. Blackford went on to say:

“Parliament must grasp this opportunity, unite to stop Boris Johnson shutting down democracy – and be ready to use all mechanisms to block a no-deal disaster, including deploying legislation as a priority.”

Farage Offers Election Pact

Meanwhile, Nigel Farage has made an offer to Johnson. Farage’s Brexit Party has been busy establishing itself following success in the MEP elections. Farage, therefore, told Johnson that his party will remove its candidates from running against the Conservatives if Johnson calls an election and campaigns for a no-deal Brexit.

Farage warned the new PM that he will “die politically” if he fails to deliver Brexit on October 31^st.  He cautioned that enough pressure is mounting to mean that such a failure is likely.

Market Reaction & Technical Perspective

While reports at the moment are lacking concrete details, the general tide seems to be turning against a no-deal. Consequently, GBP is recovering.

The joint statement released by cross-party MPs this week highlights the level of opposition to a no-deal. And, as such, this is increasing the chances that such an outcome could be stopped.

GBPUSD continues to rally off the recent base which formed just above 1.20 support, having tested the bearish channel for low. For now, the move remains corrective and price is fast approaching resistance at the 1.2382 level. This could see the downtrend resume. If we break back above here however, focus will turn to a test of the channel top next and a possible sea change for GBP in the near term. To the downside, 1.20 remains the key level to watch, a break of which will be very bearish indeed for GBP.

By Orbex

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the correctional uptrend is heading towards 61.8% fibo at 1.2350. After completing the correction, GBPUSD may form a new descending structure to reach the support at 1.2015. The mid-term downside targets are inside the post-correctional extension area between 138.2% and 161.8% fibo at 1.2019 and 1.1788 respectively.

More detailed structure of the current correction is shown on the H1 chart. Right now, the pair is re-testing 50.0% fibo. Later, the market may continue moving towards 61.8% fibo at 1.2350. At the same time, there is a divergence within the uptrend on MACD, which may indicate a forthcoming reverse.

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, after EURJPY broke the significant low, there was a convergence on MACD, which was later followed by the first correctional impulse towards 23.6% fibo. The next correctional targets may be 38.2%, 50.0%, and 61.8% fibo at 119.15, 119.95, and 120.76 respectively. The support is at 116.56.

In the H1 chart, after completing the rising impulse, the pair is correcting to the downside and has already reached 61.8% fibo. Later, the market may continue the correction towards 76.0% fibo at 116.95.

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 Orbex

USD Higher

The US dollar has been higher again over the European session so far today, with the index extending yesterday’s gains to trade 98.04 last. USD has been boosted by weaker equities over the last 24 hours as pessimism around US/China trade talks has weighed on risk sentiment. A light data sheet today should keep flows fairly subdued across the rest of the day.

EUR Holding Up

EURUSD has been a little firmer today, despite a higher USD. However, the near-term outlook for EUR remains negative with the ECB widely expected to announce large easing measures at the upcoming September meeting. Weak German data this week has added to these expectations with EURUSD remaining below the 1.1112 level for now.

GBP Down on Parliamentary Suspension News

GBPUSD has come under heavy selling pressure today in reaction to the news that the UK government is seeking a parliamentary suspension. The move is part of Johnson’s strategy to ensure a no-deal Brexit on October 31^st and is heightening fears that such an outcome will indeed happen. GBPUSD trades 1.2197 last.

Equities Pause

Risk assets have had a subdued session so far with SPX500 hovering around unchanged levels on the day following losses suffered yesterday. The index trades 2872.73 last, still sitting well above the 2825.30 level for now, despite fears that US/China trade talks will lead to no solution. Trump’s unpredictable reactions over recent days have cast doubt on the prospect of a deal being done.

Gold Higher

Safe havens have had a mixed session so far over the European morning on Wednesday with gold higher against USD while JPY has come off a little. USDJPY trades 105.78 last with price action having stagnated heavily over recent sessions. XAUUSD trades 1542.37 last with price remaining above the 1522.75 for now, keeping focus on a further grind to the upside.

Crude Rallies on API Drawdown

Oil prices have seen a strong move to the topside over the last 24 hours as the market digests the latest API report. The institute reported a mammoth 11.1 million barrel drawdown in inventory levels last week. Traders now wait for the headline EIA report later today to confirm the reading, which should keep crude underpinned in the near term. Crude trades 55.59 last.

High Betas Held Down

USDCAD has had a quiet session so far with price hovering around the 1.33 level for now. Disappointingly for CAD bulls, the upside moves in crude have failed to lift CAD. The currency has come back under pressure amidst concerns over the health of US/China trade negotiations.

AUDUSD has been in the red over the European session so far today also. Pessimism around the US/China trade story, as well as RBA easing expectations, are keeping AUD weighed currently. Price is now sitting back below the .6758 level.

By Orbex

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has completed the correction at 1.1114; right now, it is moving downwards to reach 1.1077. Later, the market may start a new correction to return to 1.1114 and then continue trading inside the downtrend with the target at 1.1066.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has broken 1.2267 upwards; right now, it is consolidating above this level. Possibly, the pair may form one more ascending structure towards 1.2323 and then start another decline with the target at 1.2194.

USDCHF, “US Dollar vs Swiss Franc”

After finishing the ascending wave at 0.9834, USDCHF has formed a new descending impulse; right now, it is correcting towards 0.9826. After that, the instrument may resume trading downwards with the target at 0.9750.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating above 105.67. Possibly, the pair may form a new descending structure to reach 105.52. Later, the market may resume trading upwards to reach 107.07.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed the correction in the form of Flag at 0.6737. Possibly, today the pair may form a new descending structure to reach 0.6767, thus forming a new consolidation range. If the price breaks this range to the downside, the instrument may continue the correction with the target at 0.6720; if to the upside – start a new growth towards 0.6815.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has almost completed the ascending wave. Today, the pair may form a new consolidation range above 66.28. If the price breaks this range to the downside, the instrument may start a new decline with the first target at 65.98.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is moving upwards. Today, the pair may form a new consolidation range above 1.3292. After that, the instrument may break this range to the upside and grow towards 1.3361. Later, the market may form a new descending structure with the target at 1.3300 and then resume trading upwards to reach 1.3434 at least.

XAUUSD, “Gold vs US Dollar”

After finishing the correction at 1545.00, Gold has completed the descending impulse towards 1533.40. Possibly, today the pair may form a new consolidation range above the latter level. If the price breaks this range to the upside, the instrument may start a new growth to return to 1545.00; if to the downside – resume trading inside the downtrend to break 1523.00 and then continue moving downwards with the target at 1502.00.

BRENT

Brent has reached 59.90; right now, it is consolidating below this level. Possibly, the pair may start a new correction towards 59.40 and then form one more ascending structure with the first target at 60.40.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is moving downwards with the target at 9900.00. After that, the instrument may be corrected towards 10270.00 and then resume trading downwards with the predicted target at 9500.00.

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.