forex software

Create and Test Forex Strategies

forex software

Skip to forum content

Forex Software

Create and Test Forex Strategies

You are not logged in. Please login or register.


(Page 17 of 62)

Forex Software → Market Analysis → InstaForex Analysis

Pages Previous 1 15 16 17 18 19 62 Next

You must login or register to post a reply

RSS topic feed

Posts: 401 to 425 of 1,547

Re: InstaForex Analysis

Dramatic roles of the pound: a candidate for decline and a source of tension for the market

https://forex-images.ifxdb.com/userfiles/20190920/analytics5d840fd6f2f6b.jpg

The UK currency is constantly under the scrutiny of market participants. The reason for this, analysts believe that it is the tense situation around Brexit, creating a danger for the pound itself as well as other currencies.

Many world currencies are involved in the orbit of the British pound. The currency of Great Britain in one way or another affects the means of payment of other countries, and currently this effect is negative. The pound's dynamics were significantly affected by weak macroeconomic statistics from the UK on inflation.

According to the report, the base consumer price index fell to 1.5% in August, which is the lowest level since November 2016. According to analysts, the current situation indicates the need to reduce interest rates in the UK. Weak macroeconomic statistics indicate that in the coming months the regulator may reduce interest rates. This is negative news for the British pound, analysts emphasize. It can noticeably lose in price.

Currently, the GBP/USD currency pair is trading in the consolidation range near the levels of 1.2453–1.2445. According to preliminary forecasts, in the event of a decrease in the current level, a further drop is possible to the level of 1.2400. With the implementation of a more optimistic scenario and the breakdown of the upper region of 1.2490, growth is likely to reach 1.2555. After that, the potential to decline to the 1.2400 level is growing, analysts summarize.

An alarming situation in European markets is provoked by uncertainty about Brexit. Currently, the European Parliament has approved, by a majority vote, a deferral for the UK if it so requests. However, this event has already been taken into account by the market, and the pound will not receive strong support from this news. In this situation, investors and traders will invest in more reliable assets, analysts are certain.

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

Fractal analysis of the main currency pairs for September 23

Forecast for September 23:
Analytical review of currency pairs on the scale of H1:

https://forex-images.ifxdb.com/userfiles/20190923/analytics5d8809d4de654.png

For the euro / dollar pair, the key levels on the H1 scale are: 1.1227, 1.1188, 1.1135, 1.1114, 1.1079, 1.1019, 1.0987 and 1.0932. Here, the price is close to the cancellation of the ascending structure of September 12, which requires a breakdown of the level of 1.0987. In this case, the first potential target is 1.0932. The continuation of the movement to the top is expected after the breakdown of the level of 1.1080. In this case, the first goal is 1.1114. The passage at the price of the noise range 1.1114 - 1.1135 should be accompanied by a pronounced upward movement. Here, the goal is 1.1188. For the potential value for the top, we consider the level of 1.1227. Upon reaching this value, we expect a pullback to the bottom.

The main trend is the local structure for the top of September 12.

Trading recommendations:
Buy: 1.1080 Take profit: 1.1114
Buy 1.1135 Take profit: 1.1188
Sell: 1.1019 Take profit: 1.0990
Sell: 1.0985 Take profit: 1.0935

https://forex-images.ifxdb.com/userfiles/20190923/analytics5d8809f22a79f.png

For the pound / dollar pair, the key levels on the H1 scale are: 1.2738, 1.2673, 1.2622, 1.2549, 1.2460, 1.2403, 1.2338 and 1.2281. Here, we continue to monitor the local ascendant structure from September 12. The continuation of the movement to the top is expected after the breakdown of the level of 1.2549. In this case, the target is 1.2622. Price consolidation is in the range of 1.2622 - 1.2673. For the potential value for the top, we consider the level of 1.2738. Upon reaching which, we expect a pullback to the bottom. We expect consolidated movement in the range of 1.2460 - 1.2403. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.2338. This level is a key support for the top. Its passage at the price will lead to the development of a downward structure. In this case, the first goal is 1.2281.

The main trend is the local ascending structure of September 12.

Trading recommendations:
Buy: 1.2550 Take profit: 1.2620
Buy: 1.2674 Take profit: 1.2736
Sell: 1.2401 Take profit: 1.2340
Sell: 1.2336 Take profit: 1.2282

https://forex-images.ifxdb.com/userfiles/20190923/analytics5d880a0be3877.png

For the dollar / franc pair, the key levels on the H1 scale are: 0.9983, 0.9962, 0.9941, 0.9927, 0.9893, 0.9868, 0.9835, 0.9813 and 0.9783. Here, we expect the development of the downward structure of September 19. The continuation of the movement to the bottom is expected after the breakdown of the level of 0.9893. In this case, the target is 0.9868. Price consolidation is near this level. The breakdown of the level of 0.9868 should be accompanied by a pronounced downward movement. Here, the target is 0.9835, Short-term downward movement, as well as consolidation is in the range of 0.9835 - 0.9813. For the potential value for the bottom, we consider the level of 0.9783. Upon reaching this level, we expect a pullback in correction. Short-term upward movement is possibly in the range of 0.9927 - 0.9941. The breakdown of the latter value will lead to an in-depth correction. Here, the goal is 0.9962. This level is a key support for the descending structure of September 19.

The main trend is the formation of the downward potential of September 19.

Trading recommendations:
Buy : 0.9927 Take profit: 0.9940
Buy : 0.9942 Take profit: 0.9960
Sell: 0.9893 Take profit: 0.9870
Sell: 0.9866 Take profit: 0.9835

https://forex-images.ifxdb.com/userfiles/20190923/analytics5d880a25379e9.png

For the dollar / yen pair, the key levels on the scale are : 108.21, 107.95, 107.77, 107.50, 107.25, 107.06 and 106.82. Here, we are following the development of the descending structure of September 19. The continuation of the movement to the bottom is expected after the breakdown of the level of 107.50. In this case, the target is 107.25. Short-term downward movement, as well as consolidation is in the range of 107.25 - 107.06. For the potential value for the bottom, we consider the level of 106.82. Upon reaching this level, we expect a pullback to the top. Short-term upward movement is possibly in the range 107.77 - 107.95. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 108.21. This level is the key support for the downward structure from September 19.

Main trend: descending structure of September 19.

Trading recommendations:
Buy: 107.77 Take profit: 107.93
Buy : 107.97 Take profit: 108.20
Sell: 107.50 Take profit: 107.27
Sell: 107.23 Take profit: 107.08

https://forex-images.ifxdb.com/userfiles/20190923/analytics5d880a41a32ae.png

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3379, 1.3343, 1.3326, 1.3297, 1.3260, 1.3235, 1.3198 and 1.3172. Here, we continue to monitor the development of the ascending structure of September 10. The continuation of the movement to the top is expected after the breakdown of the level of 1.3297. Here, the target is 1.3326. Price consolidation is in the range of 1.3326 - 1.3343. For the potential value for the top, we consider the level of 1.3379. Upon reaching this level, we expect a pullback to the bottom. Short-term downward movement and consolidation are possible in the range of 1.3260 - 1.3235. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3198. This level is a key support for the top. Its breakdown will have the downward structure. In this case, the potential goal is 1.3172.

The main trend is the rising structure of September 10, the correction stage.

Trading recommendations:
Buy: 1.3299 Take profit: 1.3226
Buy : 1.3344 Take profit: 1.3378
Sell: 1.3260 Take profit: 1.3237
Sell: 1.3233 Take profit: 1.3200

https://forex-images.ifxdb.com/userfiles/20190923/analytics5d880a5d1bb74.png

For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6822, 0.6797, 0.6782, 0.6745, 0.6732, 0.6705 and 0.6683. Here, we are following the development of the downward cycle of September 13. Short-term downward movement is expected in the range 0.6745 - 0.6732. The breakdown of the last value should be accompanied by a pronounced downward movement. Here, the target is 0.6705. Price consolidation is near this value. For the potential value for the bottom, we consider the level of 0.6683. Upon reaching which, we expect a departure in the correction. Short-term upward movement is possibly in the range of 0.6782 - 0.6797. The breakdown of the last value will lead to a long correction. Here, the potential target is 0.6822. This level is a key support for the downward structure.

The main trend is the downward cycle of September 13.

Trading recommendations:
Buy: 0.6782 Take profit: 0.6795
Buy: 0.6800 Take profit: 0.6822
Sell : 0.6745 Take profit : 0.6734
Sell: 0.6730 Take profit: 0.6707

https://forex-images.ifxdb.com/userfiles/20190923/analytics5d880a80a9bd8.png

For the euro / yen pair, the key levels on the H1 scale are: 119.41, 119.02, 118.74, 118.28, 118.01, 117.73, 117.51 and 117.10. Here, we are following the development of the descending structure of September 18. Short-term downward movement is expected in the range 118.28 - 118.01. The breakdown of the latter value will lead to a movement to the level of 117.73. Price consolidation is in the range of 117.73 - 117.51 . For the potential value for the bottom, we consider the level of 117.10. From this level, we expect a rollback to the top. Short-term upward movement is possibly in the range 118.74 - 119.02. The breakdown of the latter value will lead to in-depth movement. Here, the goal is 119.41. This level is a key support for the downward structure.

The main trend is the descending structure of September 18.

Trading recommendations:
Buy: 118.75 Take profit: 119.00
Buy: 119.04 Take profit: 119.40
Sell: 118.28 Take profit: 118.03
Sell: 118.00 Take profit: 117.74

https://forex-images.ifxdb.com/userfiles/20190923/analytics5d880aa4466e6.png

For the pound / yen pair, the key levels on the H1 scale are : 137.21, 136.13, 135.37, 134.10, 133.39 and 132.23. Here, we are following the local ascendant structure of September 12. Short-term upward movement is expected in the range of 135.37 - 136.13. The breakdown of the last value will lead to movement to a potential target - 137.21, when this level is reached, we expect a pullback to the bottom. Short-term downward movement is possibly in the range 134.10 - 133.39. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 132.23. This level is a key support for the upward structure.

The main trend is the ascending structure of September 3, the local ascending structure of September 12.

Trading recommendations:
Buy: 135.38 Take profit: 136.10
Buy: 136.15 Take profit: 137.20
Sell: 134.10 Take profit: 133.42
Sell: 133.35 Take profit: 132.30



Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

Yen came with trump cards

The economic calendar of the last full week of September can hardly be called saturated, so investors will be focused on events of a geopolitical nature. The trade war, the conflict in the Middle East and Brexit are forcing investors to pay attention to safe haven assets, all the more so since the yen, which has become pretty cheaper in the first half of the month, is starting to look like a tidbit.

Over the past 3 weeks, USD/JPY quotes have grown by 4% amid closing short positions. De-escalation of the US-China trade conflict, lower Fed rates, revival of the European QE, a decrease in the probability of disorderly Brexit and strong macro statistics across the United States convinced investors that not everything was as bad as is commonly believed. Is it time to reduce the share of safe haven assets in portfolios? As a result, the yield on US treasury bonds began to grow, and the yen, franc and gold were in a black body. As subsequent events showed, not for long.

The attacks on Saudi Arabia, the statement by Donald Trump that he did not need a temporary deal with China on the eve of the presidential election, as well as the refusal of the Chinese delegation to visit American farmers, were seen as a signal of worsening global risk appetite and relations between Washington and Beijing. Riyadh claims that the terrorist attack was certainly funded by Tehran, and Donald Trump sends troops to the Allied camps in the Middle East and imposes sanctions against the Iranian central bank. How not to buy bonds and other safe havens in such conditions?

A deterioration in global risk appetite and a return to interest in the yen are making life difficult for the Bank of Japan. We watched the USD/JPY correction, realizing that devaluation would help accelerate inflation. Consumer prices in Japan slowed to 0.5% y/y in August, which is the worst trend since 2017.

The dynamics of Japanese inflation

https://forex-images.ifxdb.com/userfiles/20190924/analytics5d8957f382272.jpg

Slowing inflation theoretically unties the hands of the central bank in easing monetary policy, but everything looks different in real life. Haruhiko Kuroda is confronted by the Fed's inability to weaken the US dollar even by lowering federal funds rates and EUR/USD growth in response to the revival of the ECB's quantitative easing program. It is obvious that a further drop in the overnight rate (-0.1%) in the red zone will only aggravate the problems of Japanese banks. In the current situation it is better to sit and see how events will develop. Perhaps negotiations between Washington and Beijing will result in a breakthrough and increase in global risk appetite ... On the contrary, the resumption of the rally in the oil market poses a threat to countries importing black gold and strengthens the demand for safe-haven assets.

Technically, the bulls' inability to hold USD/JPY quotes above the upper limit of the downward trading channel is the first sign of their weakness. After reaching an intermediate target of 78.6% according to the Shark pattern, a logical pullback followed, which risks continuing in the direction of 106.9 and 106.25. The main task of the bears is to keep the pair below 107.5.

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

Forecast for EUR/USD on September 25, 2019

EUR/USD

Yesterday was very unfortunate for two heads of state - Boris Johnson and Donald Trump; the Supreme Court of Great Britain declared the sending of Parliament on forced leave as unlawful and today it will return to work, and the House of Representatives of the US Congress began the impeachment procedure of Donald Trump for "betrayal of his oath of office, betrayal of our national security and betrayal of the integrity of our elections." The reason was allegedly his demand for the President of Ukraine Volodymyr Zelensky to launch an anti-corruption investigation against John Biden's son Hunter, the head of the gas company in Ukraine Burisma Group.

At the same time, the Ifo index of business sentiment in Germany rose from 94.3 to 94.6 in September, while the US consumer confidence index from the Conference Board dropped from 134.2 to 125.1 in the same month. The euro has grown by 26 points.

We do not believe that Trump is facing real impeachment, he just once again makes it clear that there is nothing for that "upstart" in the second presidential term. Earlier (at the end of April), we wrote that the Democratic Party successfully promoted its people to leading posts in many countries, now they need to restore "order" in the country.

https://forex-images.ifxdb.com/userfiles/20190925/analytics5d8af8c723fd1.png

From a technical point of view, the situation returned to normal over the day. On the daily chart, the signal line of the Marlin Oscillator is moving down from the boundary with the growth territory.

On a four-hour chart, the price turned around, not reaching the resistance of the indicator lines, Marlin returned to the decline zone. The main scenario with a decrease in the euro remains, the target of 1.0926 is a low of September 12 and 3.

https://forex-images.ifxdb.com/userfiles/20190925/analytics5d8af8dd0444c.png

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Best Regards,PR Manager
InstaForex Companies Group

Re: InstaForex Analysis

Gold does not like the president

The worst dynamics of business activity in the manufacturing sector in Germany over the past 10 years, the fastest decline in the consumer sentiment index in the US since the beginning of the year and rumors about the impeachment of Donald Trump - what could be better for safe haven assets?. The frank and the yen grew steadily, Treasury yields collapsed, and bulls on gold resumed attacks aimed at updating the 6-year high. The precious metal is preparing to close in the green zone for the fifth month in a row, and we must admit that it has reason for this.

When the leading economies of the world in the form of China, Germany and the US slow down, and central banks try to save the situation by easing monetary policy, the bulls on XAU/USD feel like a fish in water. Monetary expansion weakens major world currencies, and even the growth of the USD index does not scare fans of gold: it is not the dollar that is strong, its competitors are weak. Moreover, the Fed is cutting rates and, according to TD Securities forecasts, in order to eliminate the crisis in the money market, it will revive a program of quantitative easing in the amount of $515 billion in October. At the same time, political risks increased in the United States due to rumors about the impeachment of Donald Trump, which will contribute to the loss of steam by the US economy and global GDP. Is it any wonder that the treasury bond yields dropped sharply? The dynamics of gold and yield on US Treasury bonds

https://forex-images.ifxdb.com/userfiles/20190926/analytics5d8bf5d5472a5.jpg

The fact that the bullish XAU/USD trend is stronger than ever is evidenced by an increase in stocks of specialized exchange-traded funds to a 6-year high and an increase in Swiss precious metal exports to Britain to 112.5 tons, which is the highest value for the last 7 years . As a rule, when gold flows from the West (US, Britain) to the East (China, India), sellers dominate the market; when it changes its direction - buyers. Switzerland serves as a transit point and a kind of indicator of the activity of investors and jewelers. As for ETF reserves, they reached the level of 2494.3 tons and are ready to mark the best quarterly growth from April-June 2016.

Yes, the impeachment of the current head of the White House seems unlikely, but it undermines the political authority of Donald Trump and unties the hands of China. It is possible that China will continue to pull the cat by the tail, sincerely hoping that the main enemy could resign himself long before the presidential election of 2020. The October talks in Washington and Beijing may not be as productive as financial markets expect, which will lead to the development of a correction on US stock indices and will allow the bulls to develop an attack on XAU/USD.

Technically, the inability of the bears for gold to keep quotes below the trend line of the Burst stage of the "Bump and Run Reversal" pattern indicates their weakness. The precious metal quickly returned to the game and if the September high is updated, the AB=CD pattern will be activated. Its target of 161.8% corresponds to the mark of $1600 per ounce

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

Forecast for EUR/USD on September 27, 2019

EUR/USD
On Thursday, amid a calm political background, the euro pushed through the signal support of 1.0926 and is now ready to work out the target range of 1.0805/45. The final estimate of US GDP for the 2nd quarter remained unchanged at 2.0%, which supported moderate optimism in the market. Today, orders for durable goods for August are expected to decrease by -1.1%, but personal income is projected to grow by 0.4%, as well as expenditures by 0.3%. Taking into account yesterday's data on incomplete sales in the secondary market at 1.6% against the forecast of 1.0%, as well as rising indicators for real estate prices and growth in consumer confidence released this week, data on expenses and income may even exceed expectations. which can become the main news of the day.

https://forex-images.ifxdb.com/userfiles/20190927/analytics5d8d8a552b101.png

Technically, on the daily chart, the situation is completely falling - chart indicators and the oscillator in a downward position.

On the four-hour chart, there is also a downward trend; price below the lines of balance and MACD, the signal line of the Marlin oscillator forms a kind of triangle, which may be a sign of a continuation of the downward trend.

https://forex-images.ifxdb.com/userfiles/20190927/analytics5d8d8a6ae87e2.png

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

Forecast for EUR/USD on September 30, 2019

EUR/USD

On Friday, after the euro's attempt to overcome support at 1.0926, the price chose to return a little higher in order to try to do it with fresh energy in the new week. This morning a little strength was given by economic data on the Asia-Pacific; retail sales for August show growth of 2.0% y/y against the forecast of 0.7% y/y, business activity in the manufacturing sector of China (Manufacturing PMI) for September increased from 49.5 to 49.8. In the afternoon, employment indicators in the euro area will come out, forecasts are neutral, so investors are interested in how much the data deviate from expectations.

https://forex-images.ifxdb.com/userfiles/20190930/analytics5d918f93e4173.png

On a four-hour chart, the price is near the signal level of 1.0926, consolidating below it will launch the main decline scenario. We are waiting for the price in the target range of 1.0806/44, formed by the line of the price channel and the Fibonacci level of 161.8%. Strong economic indicators in the euro area and weak in the US (if the Chicago PMI is weaker than the forecast of 50.0) may pull up the euro to the MACD line, to around 1.1000.

https://forex-images.ifxdb.com/userfiles/20190930/analytics5d918fa9be05a.png

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Best Regards,PR Manager
InstaForex Companies Group

Re: InstaForex Analysis

Forecast for EUR/USD on October 1,2019

EUR/USD

The euro fell by 38 points on Monday. The readings of technical indicators have become even more bearish. On the daily chart, the Marlin oscillator penetrates deeper into the negative trend zone. The target range is the gap from the price channel line to the Fibonacci level of 161.8% - 1.0806/44. Consolidating the price below it opens the second target at 1.0710 - the low of January 2016.

https://forex-images.ifxdb.com/userfiles/20191001/analytics5d92c838e395a.png

On a four-hour chart, the signal line simultaneously develops in two conflicting patterns; a convergence reversal formation is formed, but within the framework of a simple rectangle. In this case, both signals lose power. In the evening, ISM Manufacturing PMI will be released in the September assessment - the forecast is 50.4 versus 49.1 in August, and an increase can also be shown for construction costs in August - the forecast is 0.5% against 0.1% earlier. We look forward to further weakening of the eur

https://forex-images.ifxdb.com/userfiles/20191001/analytics5d92c84edf98c.png

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Best Regards,PR Manager
InstaForex Companies Group

Re: InstaForex Analysis

Technical analysis of ETH/USD for 02/10/2019

https://forex-images.ifxdb.com/userfiles/20191002/analytics5d9441a7f088b.jpg

Crypto Industry News:
Testnet network Ethereum under the name Istanbul (which operates under the Ropsten testnet) was launched on September 30. Considering the existing problems related to the dates of the planned hard forks, this can be considered a great success. The whole was able to run even two days before the earlier announced date, which fell on October 2.

Unfortunately, after the activation of Ropsten an unplanned fork occurred. So now two chains are working.

The issue of the community centered around the Vitalik Buterin platform was explained by the community manager at the Ethereum Hudson Jameson Foundation. In his tweet from yesterday, he described what happened. Today, some miners are still mining the old version of Ropsten. Another copy of its new, updated version. The programmer, however, calms down. The problem is to be solved. Information should not worry investors: they are testnets, so that such errors come out during their duration.

Jameson also explains what exactly happened. The genesis of the problem is the nature of blockchains based on the proof-of-work algorithm, including Ethereum. The miners in them must independently update the software to be able to dig as part of a new chain. This time some of them did not and the result was an unplanned division.

Technical Market Overview:
The ETH/USD pair has made a new local high at the level of $185.05, but so far couldn't make it to the 50% of Fibonacci retracement located at the level of $187.37. The supply zone located between the levels of $172.82 - $176.66 has been clearly broken, the momentum is now increasing significantly, so there is a chance for the bulls to hit the level of 50% of even the 61% shortly if the trendline dynamic support around the level of $172.82 will provide the bounce. In the case of a trendline violation, the nearest technical support is located at the level of $163.98.

Weekly Pivot Points:
WR3 - $256.80
WR2 - $233.68
WR1 - $197.61
Weekly Pivot - $174.45
WS1 - $137.03
WS2 - $112.52
WS3 - $77.73

Trading Recommendations:
The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are still being treated as a counter-trend correction inside of the uptrend. When the wave 2 corrective cycles are completed, the market might will ready for another impulsive wave up of a higher degree and uptrend continuation

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

Trading Idea for NZD/CAD

As you know, cross-rates are an excellent tool for hedging positions in "majors", such as the most popular of them - the EUR/USD pair.

I recommend for each position in major - to have a position in the "right" cross, and you will appreciate this tactic of distributing profits between instruments.

Let's pay attention to the very oversold NZD/CAD cross-instrument, which has passed 10,000 p for 5 figures almost without a pullback since March 2019. However, several people know that this cross has an average rollback passage of exactly 10 points. And right now, after updating the minimum of 2015, it makes sense to buy it with a potential of at least 3,000 p at 5 figures.

https://forex-images.ifxdb.com/userfiles/20191003/analytics5d953a9074b50.png

It is easier to do this by collecting a grid of orders in longs on pullback movements. In fact, you will work out a false breakdown on an annual scale, or rather - for 4 years. This does not happen every day. Therefore, it is necessary to take advantage of this unique opportunity.

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

Elliott wave analysis of GBP/JPY for October 4 - 2019

https://forex-images.ifxdb.com/userfiles/20191004/analytics5d96d265790ee.png

GBP/JPY is now hovering just above the ideal corrective target at 130.78. We continue to look for a final dip closer to this target as long as minor resistance at 132.55 and more importantly as long as resistance at 133.36 is able to cap the upside. However, a break above resistance at 133.36 will indicate that red wave ii has completed and red wave iii towards 139.15 is developing.

R3: 133.36
R2: 132.85
R1: 132.55
Pivot: 132.00
S1: 131.47
S2: 131.25
S3: 130.78

Trading recommendation:
We will buy GBP at 131.25 or upon a break above 132.55

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

Control zones GBP/USD 10/07/19

The pair is trading between two significant zones. The resistance was Weekly Control Zone 1/2 1.2388-1.2372, and the weekly CZ 1.2246-1.2213 became the support. To continue medium-term growth, closing of trading above the level of 1.2388 on Monday will be required. This will pave the way for the September maximum. This model has a 50% chance of working out.

https://forex-images.ifxdb.com/userfiles/20191007/analytics5d9a81d06144a.png

The continuation of the medium-term growth may become the main model for the coming week, as many pairs associated with the dollar formed a reversal pattern in the direction of strengthening.

An alternative model will be developed if the Weekly Control Zone 1/2 test leads to an increase in supply and a halt to growth. This will indicate the formation of a local accumulation zone, where the main goals will be the extremes of last week.

https://forex-images.ifxdb.com/userfiles/20191007/analytics5d9a81e482e72.png

Daily CZ - daily control zone. The zone formed by important data from the futures market that changes several times a year.
Weekly CZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly CZ - monthly control zone. The zonethat reflects the average volatility over the past year.

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

Fractal analysis of Bitcoin on October 8

Forecast for October 8:
Analytical review of cryptocurrency on a scale of H1:

https://forex-images.ifxdb.com/userfiles/20191008/analytics5d9bdac5bbda0.png

For the Bitcoin instrument, the key levels on the H1 scale are: 9026.00, 8811.75, 8666.36, 8379.42, 8287.60, 8039.21, 7893.53 and 7698.41. Attention! This instrument is characterized by medium-term trend trading. Here, as expected, the price formed a local structure for the top of October 7. In addition, this instrument has a good correlation with the euro / yen.

The range for entering the market for the purchase is 7948.00 - 8380.00. We expect the development of the upward cycle after the price passes the noise range 8287.60 - 8379.42. In this case, the first goal is 8666.36. Meanwhile, price consolidation is in the range of 8666.36 - 8811.75, as well as a possible rollback to correction. The potential value for the top, where it makes sense to close the position - 9026.00. The range 8039.21 - 7893.53 is a key support for the ascending structure. Its passage at the price will lead to the cancellation of this structure. In this case, the first goal is 7698.41. However, to trade in a downward direction, it makes sense when the local initial conditions for a downward cycle are formed.

The main trend is the initial conditions for the top of October 7.

Trading recommendations:
Buy: 7948.00 - 8380.00 Stop Loss: 7891.00 Take profit: 8666.36
To continue :
Stop Loss: 8287.60 Take profit: 9026.00

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

Forecast for AUD/USD on October 9, 2019

AUD/USD
the opening of the week, the Australian dollar has developed on the scale of a four-hour chart. All days, until this morning, the price was reflected from the support of the MACD line of a four-hour scale. The signal line of the Marlin oscillator penetrates into the growth zone.

https://forex-images.ifxdb.com/userfiles/20191009/analytics5d9d6012d1763.png

Now the aussie is ready to close the gap formed at the beginning of the week. The purpose of growth is the line of the price channel of the daily scale near the MACD line at around 0.6790. We the fall to resume from the target level.

https://forex-images.ifxdb.com/userfiles/20191009/analytics5d9d6027c76fb.png

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

Gold breaks into battle

Gold quickly returned above the psychologically important level of $1,500 per ounce due to weak statistics on US business activity. The United States feel the pain of trade wars and may well pull the rest of the world into the abyss, as has happened in the past more than once. At the same time, neither the US labor market report nor Jerome Powell's statement about the launch of the asset-purchase program made an impression on the precious metal. Obviously, investors are waiting for something. It is easy to guess that this is news from the negotiating table of Washington and Beijing.

Despite the fact that the Federal Reserve chairman made it clear that the upcoming program for the purchase of short-term securities is not QE, its start can be considered a positive factor for the bulls on XAU/USD. Increasing the activity of a large buyer is a good argument in favor of rising prices and falling profitability. Non-interest-bearing gold is not able to compete with bonds if rates on them rise. If they, on the contrary, decline, the precious metal begins to enjoy increased popularity. This is confirmed by the high demand for products of ETF funds. Their stocks have been increasing for 17 consecutive days, which is the longest winning streak since 2009. The total size of the indicator is only 35 tons below the record high that took place in 2012.

Gold ETF Stock Dynamics

https://forex-images.ifxdb.com/userfiles/20191010/analytics5d9e734a2f194.jpg

The strong growth in stocks of specialized exchange-traded funds and the stability of gold against a strong dollar allow Citigroup to adhere to its bullish forecast for XAU/USD. The company believes that the precious metal will grow to $1,700 per ounce within 6-12 months. But on the side of its fans plays and increased activity of central banks! Thus, the People's Bank of China has been building up gold reserves for the 10th consecutive month. During this period, it acquired 99.8 tons. As a result, stocks rose to 62.64 million ounces. According to the World Gold Council, 14 regulators from various countries continue to diversify their reserves in favor of precious metals in order to reduce their dependence on the US dollar. In 2018, central banks from around the world bought $27 billion worth of gold, a record high.

The dynamics of gold reserves in China

https://forex-images.ifxdb.com/userfiles/20191010/analytics5d9e735c3121b.jpg

While central banks and ETF fans are buying gold, speculators prefer to exit. In the week of October 1, their net longs fell to their lowest level since late July. It's not necessary to be frightened by it. Financial managers quite logically take profits on the eve of an important event - trade negotiations between the US and China. Most likely, their impact on financial markets will be much greater than the publication of the minutes of the September meetings of the Fed and the ECB.

Technically, the "Splash and Shelf" pattern takes place on the daily gold chart. Breakthrough of the lower boundary of the consolidation range of $1490-1520 will launch another correctional wave in the direction of $1440-1445 per ounce. In contrast, a successful assault on the resistance at $1520 will strengthen the risks of restoring the "bullish" trend and continuing the rally in the direction of the target at 161.8% on the AB=CD pattern.

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

GBP/USD continues to grow, despite weak data from the UK

https://forex-images.ifxdb.com/userfiles/20191011/analytics5d9fc2ae3966f.jpg

The continued sale of the dollar helped maintain the positive dynamics of the pound, but otherwise the prospects for the British currency are not very good. The UK economy fell by 0.1% in August against the expected stable value. Indicators of manufacturing and industrial production also fell short of forecasts. While the GBP/USD pair maintains its upward trend, although it has slightly deviated from recent highs in response to weak economic data. Demonstrating the miracles of resilience in the 1.2200 mark for the third consecutive session, the pair was able to restore positive movement, however, only amid continued active sales of the dollar.

https://forex-images.ifxdb.com/userfiles/20191011/analytics5d9fc2c2a20c1.jpg

In principle, weaker than expected macroeconomic data in the UK could not have a significant impact. Nevertheless, the positive impulse did not receive a new charge, while the pair confidently holds the blow and tries to gain a foothold at a new height, despite the fact that the UK monthly GDP report showed that the economy unexpectedly declined by 0.1% in August. In addition to this, UK manufacturing and manufacturing declined more than expected in August, although this drop was partially offset by a lower-than-expected trade deficit. Now it will be interesting to see if the pair can benefit from the positive movement or fail again at higher levels amid continuing uncertainty surrounding Britain's exit from the European Union.

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

EUR/USD and GBP/USD. Preview of the new week. The EU summit, Brexit, inflation in the European Union

https://forex-images.ifxdb.com/userfiles/20160818/analytics57b55cfa36eb7_eu.png

It is safe to say that we can call the new week, the"Week of Great Britain." Most of the macroeconomic reports planned for the week will concern the GBP/USD pair. Most of the reports regarding the GBP/USD pair will come from the UK. In addition to economic data, it will be decided whether a new Brexit date will be postponed, whether Boris Johnson and the European government will be able to agree on a "deal" and whether the British Parliament will block a new deal if, by some miracle, Brussels and London succeed to reach consensus on all contentious issues in five days? Thus, the EUR/USD pair may feel relatively calm, just as it did the previous week, but the British pound is likely to break volatility records and very often change its direction if the news comes mixed. But consider all the data in more detail.

As we said, most statistics come from the UK. On Tuesday, this will be data on unemployment and changes in average wages for August, on Wednesday - the consumer price index for September, on Thursday - retail sales and the European Union summit on Brexit starts. In addition, the United States will receive information on retail sales for September (Wednesday). However, despite the importance of future reports, we believe that the main attention of traders will be focused on Brexit, on the EU summit and on any information from Boris Johnson, Donald Tusk, Jean-Claude Juncker, Michel Barnier, Angela Merkel, Emmanuel Macron. It is these leaders who most often speak out about the promotion of the Brexit negotiation process and have the greatest influence on it. Regarding the chances of fulfilling one or another Brexit option, we recommend that traders not try to guess the future. Brexit has repeatedly shown to all market participants that trying to predict how everything will end is an ungrateful affair. The growth of the pound was often associated with rumors and unfounded market expectations, which each time gave way to a stronger fall in the British currency. That is why the movement of the pound/dollar pair this week may well be illogical and consistent with the nature of the incoming news, and all macroeconomic reports can be completely ignored. Thus, the main principle will be the "principle of caution" when trading GBP/USD in the new week.

As for the EUR/USD pair, here from macroeconomic events we can note the report on the change in industrial production in August on Monday, the inflation report for September on Wednesday. The greatest interest, of course, will be caused by the consumer price index, which in recent months has fallen to absolute lows. A value below 1.0% will no longer be considered just low, but critical. And then it can be expected from the ECB and a new reduction in key rates, the quantitative stimulus program in the first months of its operation is unlikely to be changed, but in the future it can be expanded. And for the euro, these are all potential bearish factors. We still believe that in the confrontation with the dollar, a single European trump card is very small. And at the moment, we consider the main factor behind the growth of the euro a banal technical need to be adjusted from time to time. There is no positive news from the EU. Recently, everything is not good in the United States too, but America's economy is still stronger, macroeconomic indicators are higher, monetary policy is tougher. It is these factors that continue to play for the dollar.

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

USD/CAD - Heading downwards

Greetings, dear traders. This time, I will show you a long-term recommendation on an instrument such as USD / CAD.

What is interesting in this instrument now? First of all, the data on unemployment from Canada came out last Friday. Typically, these reports come out simultaneously with American Non-farm (NFP), but this time, the publication was separate. With this impulse, the Canadian dollar strengthened strongly against the US dollar, completely absorbing the abnormal growth a week earlier. At the moment, this indicates a very strong seller in the market.

Since the plan is long-term, its implementation can take from several days to several weeks. Thus, it makes sense to wait for a rollback and consider selling on smaller TFs.

https://forex-images.ifxdb.com/userfiles/20191014/analytics5da47e0d159b3.png

It's important to understand that a lot of data will be released on Wednesday, such as the base index of retail sales for the American dollar and inflation for the Canadian one. Moreover, regular oil reserves will also affect the Canadian dollar. What is more reasonable here would be to expect the continuation of decline precisely after the release of all these news on Wednesday.

I wish you success in trading and big profits!

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

EUR/USD - through thorns to the stars!

Greetings, dear traders. It is time to remember about EUR/USD, which has successfully fulfilled our previous plans. Following GBP/USD, the European currency is now demonstrating a strong bullish direction. It's easy to guess that all these movements are connected with the next portion of news regarding Brexit. If you omit all the fundamental details and focus on how to make money from it, the answer is simple. To take a neat positions in the purchases with a pullback. At the same time, wherever you try to buy, the extreme point of the scenario cancellation is today's minimum at the quote of 1.0991. Therefore, you can limit losses to this level. It is recommended to holding purchases (at least partially) at the level of 1.1064, since this is an important level for sellers over the past few days.

https://forex-images.ifxdb.com/userfiles/20191015/analytics5da5deadccb48.png

I wish you success in trading and big profits!

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

GBPUSD: The evening promised to be hot. Michel Barnier was optimistic about the agreement on Brexit, but the main move for the Unionist party. The risk of extending the UK's exit

The British pound continues to storm, and after the morning "stuffing" that the deal could be disrupted due to a number of disagreements, the pound resumed its growth on statements from representatives of the EU and the UK. As it became known, according to representatives of the parties, negotiations between the UK and the EU are coming to an end, but the key problems have not yet been resolved. On Wednesday afternoon, EU chief negotiator Michel Barnier is due to meet with diplomatic representatives of the bloc countries. However, the meeting has been postponed to a later time.

https://forex-images.ifxdb.com/userfiles/20191017/analytics5da7a8457a9dd.jpg

This was done so that the British prime minister could manage to negotiate an agreement with the Democratic Union Party, since it is precisely its leaders who are still threatening to disrupt Downing Street's plans. Let me remind you that the deal will include the establishment of a regulatory and customs border for the Irish Sea.

Barnier's meeting with European leaders will give an assessment and recommendations on whether to sign an agreement at the EU summit scheduled for late this week or not. European Commissioner Dimitris Avramopoulos has already stated that significant unresolved issues remain in the negotiations on Brexit, noting that Barnier has already submitted his report to the European Commission. In it, the chief negotiator described the negotiations as constructive. Barnier was also optimistic that a deal with Brexit could be reached before the end of this week, but, according to some sources, the report also contains information on the need to extend the UK term for EU membership, which is scheduled for October 31. An extension is necessary even if a deal is reached.

https://forex-images.ifxdb.com/userfiles/20191017/analytics5da7a8586f4ea.png

The market completely ignored the data that the inflation rate in the UK remained stable in September this year. Most of the growth was maintained due to higher prices for hotel services and furniture. According to a report by the National Bureau of Statistics, CPI increased by 1.7% in September compared with the same period last year. In August of this year, the UK CPI was also 1.7%. Let me remind you that the target level of the Bank of England is 2%.

Slowing inflation will help the regulator resort to lower interest rates and stimulate the economy, which is seriously affected by the situation with Brexit and trade conflicts.

As for the technical picture of the GBPUSD pair, only a breakthrough of the resistance of 1.2840 can lead to the continuation of the upward rally to the area of highs at 1.2920 and 1.2980. In case the pound declines on the evening news, which I mentioned above. Support will be provided by levels 1.2680 and 1.2560.

EURUSD

Eurozone data today did not cause major changes in the EURUSD pair. According to a Eurostat statistics agency report, annual inflation in the eurozone slowed again, which is bad news for the European Central Bank, which in September announced the start of a new phase of stimulating the economy. Thus, the CPI Eurozone CPI in September rose by 0.8% compared to the same period last year.

https://forex-images.ifxdb.com/userfiles/20191017/analytics5da7a8f0f0888.png

Meanwhile, the positive balance of foreign trade in the eurozone increased and amounted to 14.7 billion euros in August 2019 against 11.9 billion euros in August 2018. However, trade conflicts, for which there are no solutions, continue to negatively affect the indicator.

As for the technical picture of the EURUSD pair, it remained unchanged. Bulls will continue to fight for the resistance of 1.1060, consolidation above which can provide risky assets to new buyers. If pressure on the euro returns, and this can happen after another unsuccessful attempt to break the resistance at 1.1060, then you can still return to long positions from support in the area of 1.1020, but larger long positions are best postponed until the low of 1.0990 is updated.

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

GBP/USD. Turns of the British currency: Johnson repeats the path of Theresa May

Passion for Brexit reaches its zenith. In the afternoon, the pound paired with the dollar soared to the borders of the 30th figure (that is, to 5-month highs), responding to a statement by European Commission President Juncker that the deal between London and Brussels is "ready." But literally an hour later, the pair collapsed 200 points down after the first comments by representatives of the British Parliament. The opposition did not skimp on epithets: in particular, Jeremy Corbyn called the draft deal "corrupt", adding that Johnson's dealings were "even worse than Theresa May". However, despite such harsh comments, the market still expects the British prime minister to submit the draft deal to the House of Commons on Saturday.

https://forex-images.ifxdb.com/userfiles/20191018/analytics5da8f78cb4f61.jpg

For the sixth consecutive day, the pound is subject to strong volatility, showing unprecedented price fluctuations, both in the direction of growth and a downward course. The last time such powerful price spurts were observed in October 2018, when the parties were one step away from signing the deal. The pair jumped from the 34th to the 42nd figure in a few weeks. But then the events did not unfold so rapidly, although in general, the situations are of a similar nature.

At that time, Michel Barnier, the chief negotiator from the European Union, was the main newsmaker. Exactly a year ago, he said that the deal could already be concluded during the EU summit, which, like this year, was held on October 17-18. Brussels and London then were able to find a common denominator in many key issues, moreover, within the framework of Theresa May's Chequers plan, which the future Prime Minister Boris Johnson so eagerly criticized. May proposed to solve the Irish question in a different way: she agreed to establish checkpoints on the border and introduce "certain administrative procedures". EU representatives refused to consider other options, and interpreted the proposed conditions as a compromise. As you know, the deputies of the House of Commons categorically rejected the proposed conditions, failing the vote three times.

The Irish question is still a central issue today. On the one hand, Johnson made more significant concessions from the European Union: the customs border will pass through the Irish Sea, and the same customs rules will apply in Northern Ireland as in the rest of the UK. But on the other hand, such concessions did not satisfy the Northern Irish Unionists. After a two-day political bidding, the DUP issued an official statement declining the deal. In their opinion, the proposed agreement "does not meet the long-term interests of Northern Ireland", and in the short term, residents of this region may face a significant increase in prices.

As mentioned above, Labour also criticized Johnson's deal. And not just because of the Irish border. According to Jeremy Corbyn, the economic part of the agreement threatens the food security of Great Britain, and can also lead to "violation of the rights of workers and environmental standards." Also, according to the Labour leader, the deal will be a blow to the British health care system. Representatives of the Scottish National Party (which has 35 members of the British Parliament) have joined Johnson's critics, adding that they will not vote for the deal.

Thus, at the moment it is not clear how the prime minister plans to "push through" the deal through the millstones of Parliament. Without the support of the Youth Democratic Party, the Labour Party and the Scottish nationalists, he will have to rely on the consolidation of Conservative deputies (20 of whom he expelled from the party for indiscipline) and representatives of other political forces.

https://forex-images.ifxdb.com/userfiles/20191018/analytics5da8f7a08fb90.jpg

At the same time, according to information from the British press, Johnson in Parliament may express his readiness to violate the law, obliging him to ask Brussels to postpone Brexit. This information may be the usual "bluff" on the part of the current prime minister, but, given the odiousness of his personality, such a scenario cannot be ruled out.

In general, according to most experts, if Johnson fails to agree on a deal in Parliament, he will initiate early parliamentary elections to bring the draft deal back to the new House of Commons.

Thus, Johnson will have a difficult battle in the walls of Parliament. Judging by the dynamics of the pound, traders do not lose hope of agreeing on a deal this Saturday: otherwise, the GBP/USD pair will return first to the middle of the 24th figure, and then (less impulsive) to the levels of annual lows, that is, to the bottom of the 20th figure. If a "miracle" happens and the prime minister finds votes in Parliament, the pound paired with the dollar will fly up to 1.35-1.37, up to the 40th figure, after the deal between London and Brussels is officially agreed. And although these price values look abnormally high, it is worth recalling that on the eve of the 2016 referendum, the GBP/USD pair was trading in the area of 1.43-1.46, and after the announcement of the results, the plebiscite plunged to 1.25-1.27 in a few weeks, followed by a decline to the bottom of 20- x figures. "The return trip to an upward direction" may not be so impulsive, but at the same time, the resolution of many years of intrigue will allow the pair to grow by at least 500-600 points. As the saying goes, The Show Must Go On ...

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

Forecast for EUR/USD on October 21, 2019

The euro exceeded the closest target level of 1.1155 at the Fibonacci level of 110.0% on Friday, probably on the optimism of investors on a new EU deal with the British prime minister about more favorable conditions for themselves than they were before (Theresa May's options). Today, the British Parliament begins to finalize the deal.

https://forex-images.ifxdb.com/userfiles/20191021/analytics5dad36ea58a8b.png

On the daily chart, the price has consolidated above the line of the descending price channel, the Marlin oscillator shows a reversal only to insignificant depth, therefore the next target of 1.1215 as the Fibonacci level of 100.0% becomes relevant.

https://forex-images.ifxdb.com/userfiles/20191021/analytics5dad370048f61.png

On the four-hour chart, Marlin is expanding deeper, but it has not yet formed a divergence as a reversal formation, which also speaks in favor of the rising scenario. A trend reversal, of course, does not have to be accompanied by divergences, but then the fall of the signal line should be sharp, with the formation of a spike. So, we are waiting for the euro to grow by around 70 points, after which reversal elements may be added to the technical picture.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Best Regards,PR Manager
InstaForex Companies Group

Re: InstaForex Analysis

Pound rushes to the clouds

Despite the almost bare economic calendar, all the attention of investors on forex is focused on the British pound. According to Mark Carney, Great Britain marked the beginning of global uncertainty in 2016, which slowed business activity and GDP in most countries of the world. It can put an end to this by voting for a draft dissolution agreement with the EU. Boris Johnson also called for support of the document, arguing that any delay would harm the interests of the United Kingdom, its EU partners and relations between them. However, the British Parliament may have a different opinion.

The sterling has not responded to macro statistics for a long time and is calling for political news. In this regard, an increase in unemployment from 3.8% to 3.9% and disappointing inflation statistics (fact +1.7%, forecast + 1.8% YOY) remained almost unnoticed by investors. All their attention has shifted to Brexit. The prime minister of Great Britain managed to find a common language with the EU. Now he needs 320 votes in Parliament to enter, and not get into the story. In fact, the head of the Cabinet of Ministers needs to lure 61 opponents to his side, which does not seem unrealistic.

According to Goldman Sachs, the chance of a disorderly Brexit dropped to 5%. This circumstance makes the correction potential of GBP/USD limited. MUFG expects the pound to find haven in the range of $1.3-1.35 if lawmakers approve the deal. UBS Global Wealth Management also talks about the $1.35 level. TD-Bank believes that the pair is able to rewrite the May high near 1.3185, however, the contract rejected by the Parliament will trigger a wave of correction to 1.264-1.266. Robobank sees an even deeper low at around 1.22.

Pound Forecasts

https://forex-images.ifxdb.com/userfiles/20191022/analytics5dae40334de05.jpg

The fact that the bulls continue to dominate the market was shown by the sterling reaction to the decision of MPs to vote for the proposal to postpone the approval of the deal. As a result, Boris Johnson, in order to obey the law, was forced to write a letter to the EU asking that they prolong the transition period. The prime minister did not sign this document and sent another to Donald Tusk, in which he expressed confidence that Britain would leave the EU on October 31. The opposition party believes that the head of the Cabinet of Ministers behaves childishly and threatens him with court in the event of a disorderly Brexit.

In my opinion, everything goes to the point that the deal will be approved by the British Parliament on the falling flag. The bulls on GBP/USD believe this, pushing the pair to the psychologically important mark of 1.3. The fact that they managed to gain a foothold above 1.29 indicates the seriousness of the intentions of sterling buyers.

Technically, after a clear combination of patterns "Shark" and 5-0, the upward trend of the analyzed pair is directed to the target of 261.8% on the AB = CD model. It is located near 1.309. A necessary condition for maintaining control over the pound by the bulls and continuing the rally is to consolidate GBP/USD quotes above the Pivot level of 1.29.

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

GBPUSD and Brexit: Brexit deal may be approved, but its opponents have one more trump card

The pound slightly fell in the morning after reports that the UK government may withdraw its Brexit bill. If the British Parliament votes against the deal today, official London may withdraw the bill he proposed. This will jeopardize the work of Parliament, which will lead to the next election, which may take place before Christmas. Such a situation

https://forex-images.ifxdb.com/userfiles/20191023/analytics5daf8d0f54e21.jpg

In the meantime, discussion of the bill itself has begun, and the debate may last until late at night, which will periodically exert pressure or support to the British pound. However, many lawmakers would prefer to have more time to study the conditions proposed by Johnson, which has been repeatedly stated. But here we are already talking about moving the Brexit date from October 31 to 2020, which clearly does not suit Boris Johnson.

Even if the prime minister succeeds this week in approving the deal in Parliament, and this happens only if the date of the deal on UK withdrawal from the EU is extended, in the future this scenario will allow amendments to the bill that could completely bury the deal.

Johnson now has a much better chance of making a deal than ever, since on the weekend he secured some support from the Laborites and opponents of Brexit in his Tory party. Just a few votes can allow Johnson to win. However, as I noted above, under the scenario, if Johnson's deal is not ratified, Britain will have general elections and even a referendum on the exit and the EU.

https://forex-images.ifxdb.com/userfiles/20191023/analytics5daf8d22e2773.jpg

As for the technical picture of the GBPUSD pair, the pound only slightly fell against the US dollar, and this did not lead to significant changes. If the deal is approved, it is unlikely that the pound will break above resistance at 1.3040, which will lead to further growth of the trading instrument in the area of highs 1.3170 and 1.3260. If lawmakers are able to resist the government, then the pressure on the pound will increase, and the decline in GBPUSD under the support of 1.2840 will increase the pressure on the pair even more, which will lead to the demolition of a number of stop orders and a fall to larger lows of 1.2840 and 1.2670.

EURUSD

In the meantime, traders are closely following the news from the British Parliament, the euro is gradually falling against the US dollar.

This is due to expectations that the European Central Bank may resort to an even greater easing of monetary policy. The European Central Bank will hold its last meeting with Mario Draghi as the head this Thursday. It is expected that Draghi will "slam the door" and go for another reduction in deposit rates, or at least make direct allusions to such measures that can be implemented in December. In the case of this approach, it is not entirely correct to expect purchases of risky assets after a decision on Brexit.

From a technical point of view, further upward movement will occur only after the successful Brexit, otherwise the bears have already coped with the priority task and returned the pair to the support level of 1.1130, which gradually increases the pressure on buyers. Negative news will force them to close their long positions, pulling down the euro to the lows of 1.1090 and 1.1050.

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

Japan Leading, Coincident Index Data Due On Thursday

https://forex-images.ifxdb.com/analysts/big_preview/japan/3.jpg

Japan will on Thursday see final August numbers for its leading and coincident indexes, highlighting a modest day for Asia-Pacific economic activity. The previous reading suggested a score of 91.7 for the leading index and 99.3 for the coincident.

Japan also will see preliminary October figures for the manufacturing PMI from Nikkei and the services and composite indexes from Jibun.

In September, the manufacturing PMI had a score of 48.9, while the services index was at 51.5 and the composite came in at 52.8.

Hong Kong will release September data for imports, exports and trade balance. In August, imports were worth HKD380.78 billion and exports were at HKD352.73 billion for a trade deficit of HKD28.05 billion.

The central bank in Indonesia will wrap up its monetary policy meeting and then announce its decision on interest rates. The bank is widely expected to keep its benchmark lending rate unchanged at 5.25 percent.

[url=https://www.instaforex.com/forex-news]News are provided by
InstaForex.[/url]

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Posts: 401 to 425 of 1,547

Pages Previous 1 15 16 17 18 19 62 Next

You must login or register to post a reply

Forex Software → Market Analysis → InstaForex Analysis

Similar topics in this forum