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  1. #241
    Senior Member
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    Jun 2016
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    812

    Re: Wave Analysis from InstaForex

    Technical analysis of USD/JPY for Dec 07, 2017

    In Asia, Japan will release the Leading Indicators and 30-y Bond Auction data, and the US will release some Economic Data, such as Consumer Credit m/m, Natural Gas Storage, Unemployment Claims, and Challenger Job Cuts y/y. So, there is a probability the USD/JPY will move with a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Resistance. 3: 113.02.
    Resistance. 2: 113.80.
    Resistance. 1: 112.58.
    Support. 1: 112.30.
    Support. 2: 112.08.
    Support. 3: 111.86.

    Analysis are provided by InstaForex

  2. #242
    Junior Member
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    Dec 2017
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    25

    Re: Wave Analysis from InstaForex

    Really very informative thank you for sharing..














    Medical Safety Equipment

  3. #243
    Senior Member
    Join Date
    Jun 2016
    Posts
    812

    Re: Wave Analysis from InstaForex

    Euro and pound will be determined with direction

    Eurozone
    The euro area economy continues to expand at a steady pace, GDP growth in Q3 was 0.6%, at an annual rate of 2.6%, preliminary data was revised upwards, which is consistent with the overall economic trend.

    Growth is primarily due to increased investment and exports. Despite the fact that household expenditures have decreased somewhat, the general level of optimism continues to improve, as indicated by the recent reports of ZEW and IFO.

    On Wednesday, a report on industrial production will be released, on Thursday - PMI Markit index. This will be the latest data ahead of the ECB meeting, they will help to predict the overall tone of the commentary and the position of Mario Draghi at a subsequent press conference.

    On Thursday, investors do not expect the ECB to decide to make any concrete steps, since there is no reason for this yet. However, forecasts for economic growth and inflation will be updated upwards, as indicated by both growing business activity in recent months and rising oil prices.

    The euro as a reaction to the meeting of the FOMC may decline to a support level of 1.1670, growth is limited to the level of 1.1880.

    United Kingdom

    The pound on the eve of the meeting of the Bank of England on December 14 is seent to be positive. According to Halifax, housing prices have stabilized after more than a year of decline and activity in the construction sector decreased. The inflation forecast published by the Bank of England rose from 2.8% to 2.9%, the trade deficit instead of expanding has unexpectedly remained virtually unchanged. Sufficiently, the industry appears much better, which was clearly facilitated by the protracted period of the weak pound, which supported the export industries.

    The industrial sector is growing for the sixth month in a row, on an annualized basis, growth was 3.9%, which is higher than expected

    The National Institute for Economic and Social Research (NIESR) reports that, according to their calculations, UK GDP growth for the last 3 months was 0.5%, which exceeds both the indicators of the beginning of the year and 0.4% in the third quarter.

    These factors increase the likelihood that the Bank of England will continue to gradually raise rates, and will also contribute to the growth of the pound. Although at the next meeting, the Bank of England will not raise the bid, the general trend is in favor of an increase, which is clearly a bullish factor for the pound.

    On Friday, there was news that the UK and the EU agreed on three key points in the first phase of the Brexit talks. The border between Ireland and Northern Ireland was agreed upon, migration policies concerning the rights of EU citizens in the UK, and, most importantly, London's payment for the withdrawal from the EU. Thus, the first phase of negotiations is completed, and at the EU meeting on December 14, it will be possible to announce the progress achieved. This news will strengthen the positions of both the euro and pound.

    The pound, nevertheless, will still be under pressure, since there are no serious internal drivers in the coming week. Presumably, a decline towards 1.3250 as an intermediate target and 1.2850 as a long-term goal.

    Oil
    China, which is the world's major oil consumer, supported the growing trend on Friday, posting significantly higher than expected trade balance data in November. Crude oil imports increased by 19.37% in November, demand remains firmly high, which, combined with a number of restrictive measures by OPEC + and significant financial losses of shale companies in the US, contribute to the formation of a stable demand against the backdrop of stable production in the context of the price war with OPEC. Together, these factors support oil, which allows us to predict a breakthrough of resistance at 63.50 for Brent in the short term.

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

    Analysis are provided by InstaForex

  4. #244
    Senior Member
    Join Date
    Jun 2016
    Posts
    812

    Re: Wave Analysis from InstaForex

    BTC/USD reacting off our selling entry perfectly, remain bearish

    Bitcoin has reached our selling area and is reacting off it nicely. We remain bearish looking to sell below 17459 resistance (Fibonacci extension, bearish price action, bearish divergence) for a drop towards at least 14739 support (Fibonacci retracement, horizontal overlap support).

    Stochastic (34,5,3) is seeing major resistance below 98% and also displays bearish divergence vs price, signaling that a reversal is impending.

    Reason for the trading strategy (fundamentally):

    Bitcoin January futures (which are contracts that let investors buy or sell something at a specific price in the future) price are about $17,800 which is rather close to where we forecast major resistance. This is in line with the immediate resistance we're seeing on the technical side so it would be safe to start looking to short Bitcoin for a correction.

    Sell below 17459. Stop loss is at 18770. Take profit is at 14739.

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

    Analysis are provided by InstaForex

  5. #245
    Senior Member
    Join Date
    Jun 2016
    Posts
    812

    Re: Wave Analysis from InstaForex

    ECB leaves rates and economic forecast unchanged

    The euro met with minimal hesitation at the key decision of the European Central Bank this week.

    According to the data, the European Central Bank left the refinancing rate unchanged at 0.0%, while stating that interest rates will remain at current levels for a long time after the end of the asset purchase program.

    Many experts expected that the ECB would make hints on the gradual tightening of monetary policy by the time of the completion of the curtailment of the asset repurchase program, which is scheduled for the end of next year. However, as we can see, this is not included in the plans of the ECB and there are a number of objective reasons for this. At the very least, this is the missing price pressure, which is kept quite low for quite a long time even after good economic growth in the second and third quarters of this year. The labor market in the euro area also shows growth but the rate of increase in wages is far from ideal.

    The ECB also revealed that they will reinvest funds received from the redemption of bonds for a long period after the completion of the curtailment of the asset purchase program.

    In the morning, preliminary data on the PMI supply managers' index for France's manufacturing sector for December came out. It rose significantly to 59.3 points versus 57.7 points in November. Economists had expected PMI for the manufacturing sector to be at 57.1 points.

    A similar preliminary index of supply managers PMI for Germany's manufacturing sector for the month of December this year rose to 63.3 points against 62.5 points in November. Economists expected the index to fall to 62.1 points.

    As for the euro area as a whole, the preliminary composite index of supply managers for the euro zone's PMI in December this year increased to 58.0 points with a forecast at 57.3 points, which is slightly lower than the November figure of 57.5 points. In the second half of the day, data on the US labor market came out.

    According to a report by the US Department of Labor, the number of Americans who applied for unemployment benefits last week declined. Thus, the number of initial applications for unemployment benefits for the week of December 3 to 9 decreased by 11,000 and amounted to 225,000. Economists predicted that the number of applications would be at 235,000.

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

    Analysis are provided by InstaForex

 

 
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