Technical analysis of AUD/USD for December 02, 2019

Overview: The AUD/USD pair will keep moving downwards from the level of 0.6826 (this level coincides with the 38.2% of Fibonacci retracement levels in H4 chart). Accordingly, the Aussie is going to show signs of strength at the lowest price of 0.6820. Thus, it will be a good deal to sell below the level of 61.8% of Fibonacci retracement levels on H1 chart with the first target at 0.6771 and further at 0.6726. Equally important, 0.6726 will be acting as a strong support so it is going to be a good place to take profit, it also should be noted that this level of taking profit will coincide with around last bearish wave. On the other hand, in case a reflection takes place and the AUD/USD pair is not able to break through the resistance at the 0.6820 level, the market will further decline to 0.6726 in order to indicate a bearish market. Additionally, the RSI is still calling for a strong bearish market as well as the current price is also below the moving average 100. According to previous events, the AUD/USD pair has still been trapped between the level of 0.6826 and the 0.6726 level (those levels coincided…

China has imposed sanctions against the United States

China has imposed sanctions on the United States after the adoption of the law on Hong Kong. These sanctions are imposed against several non-governmental organizations in America and was officially announced in the Ministry of Foreign Affairs of China.
In addition, China considers the adoption of the Hong Kong law to be an interference in China’s internal affairs. It can be recalled that a few days ago, Trump issued a law on democracy and human rights in Hong Kong, where, it can be remembered that many Americans live.
As a result, the markets have so far reacted poorly to this event, but we believe that this fact will not accelerate the American-Chinese negotiations on trade duties. The next answer will be up to the States.
On the contrary, gold reacted most strongly to this event, having absorbed almost all the growth last Friday. The plan, in turn, to lower the value of the asset is maintained.
Good luck in trading and see you at the evening analyzation!
The material has been provided by InstaForex Company – www.instaforex.com…

Technical analysis of ETH/USD for 02/12/2019:

Crypto Industry News:At least five Chinese cryptocurrency exchanges have suspended or decided to end the operation this month in response to Beijing’s noticeable anti-cryptographic attitude.Bitsoda exchange operator informed the public on November 23 of its decision to terminate services; Akdex followed suit, announcing its decision to close on November 24. On the same day, Idax gave the Chinese government’s policy as the basis for its decision to prevent customers from using its services.Similarly, with a clear reference to government policy, Btuex revealed on November 25 that it would immediately stop services and re-open them to foreign customers in the future.On November 4, Biss cryptographic market announced that it was “actively cooperating” in investigating its operations and plans to resume services as soon as possible. Since then, it has been reported that the authorities have arrested 10 suspects related to the stock exchange. While information about the arrests is fragmentary, reports say regulators have found that Biss’s services are violating China’s capital control.It seems that, as with everything within their boundaries, China believes they need to have tighter control in the cryptographic market, including stock exchanges, miners and asset issuers. Beijing’s position is evolving in a similar direction as Japan is doing,…

European Economics Preview: Eurozone Final Factory PMI Data Due

Final factory Purchasing Managers’ survey data from euro area and the UK are due on Monday, headlining a light day for the European economic news. At 2.00 am ET, GDP data from Turkey is due. The economy is forecast to expand 1.1 percent on year in the third quarter, following a 1.5 percent fall in the second quarter. At 2.30 am ET, the Federal Statistical Office is scheduled to issue Swiss retail sales for October. At 3.00 am ET, foreign trade from Hungary and manufacturing PMI from Poland, Turkey are due. At 3.45 am ET, Markit is slated to issue Italy’s manufacturing PMI. Economists forecast the index to fall to 47.5 in November from 47.7 a month ago. Thereafter, final PMI reports are due from France and Germany. At 4.00 am ET, Markit is slated to issue euro area manufacturing PMI data. The final PMI is seen at 46.6 in November, unchanged from flash estimate. Half an hour later, UK Markit/CIPS final PMI report is due. The factory PMI is expected to fall to 48.3 in November, as initially estimated, from 49.6 in October. The material has been provided by InstaForex Company – www.instaforex.com…

Hot forecast for GBP/USD on 12/02/2019 and trading recommendation

The tragedy that happened on a Friday night in central London, as awful as it may sound, plays into the hands of Boris Johnson and the entire conservative party in Great Britain. Thus, the Tories are now only busy with the fact that they hang all the dogs on the Labour, since, according to them, it was the mitigation of punishment for an already convicted criminals, which the party led by Jeremy Corbyn at one time pushed through and became the cause of the incident. Argumentation is of course like that, however, just a week and a half before the early parliamentary elections, this will obviously weaken the position of the Labor Party, since Her Majesty’s subjects now need ordinary and understandable explanations. This means that the probability of a conservative victory, led by Boris Johnson, is significantly increasing, and this is a positive signal for business, as it reduces the risk of uncertainty around Brexit. Moreover, since investors have clarity as to what and how will happen after the election, they feel much more confident. This is reflected in the sudden growth of the pound. Therefore, I repeat, no matter how terrible it may sound, the tragedy that happened…

Technical analysis recommendations for EUR/USD and GBP/USD on December 2

EUR / USD
On Friday, the players on the upside showed activity and made an attempt to change the situation, which they partially succeeded. The other day, opportunities were formed for an upward correction and the weeks closed with a candle of uncertainty, but it was not possible to significantly change the mood of the month on its last day. As a result, it can be stated that it is important for the players on the downside to stay in the bearish zone relative to the daily cloud, maintain support for the weekly short-term trend and securely gain a foothold below the monthly minimum (1.0981). The most significant resistance zone is now located in the range 1.1030 – 1.1082 (daily cloud + daily cross + weekly levels). Now, consolidating above can serve to further strengthen the players to increase, with the goal of testing for strength the most important levels of this section, located in the area 1.1145 (monthly Tenkan + weekly Kijun).
In the lower halves, the players on the upside consolidated above the key supports 1,1009-12 (central Pivot level + weekly long-term trend). Therefore, they have an advantage. Now, the weakening factors are the circumstances that…

China Manufacturing Sector Accelerates In November – Caixin

The manufacturing sector in China continued to expand in November, and at a faster pace, the latest survey from Caixin revealed on Monday with a manufacturing PMI score of 51.8. That’s up from 51.7 in October, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction. Individually, there were solid increases in output and new business, while employment was broadly stable. Inflationary pressures remained weak, while higher buying activity contributed to an increase in stocks of purchases, albeit only marginal. The material has been provided by InstaForex Company – www.instaforex.com…

Philippines Manufacturing PMI Eases To 51.4 In November

The manufacturing sector in the Philippines continued to expand in November, albeit at a slower pace, the latest survey from IHH revealed on Monday with a manufacturing PMI score of 51.4. That’s down from 52.1 in October, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. Individually, production levels rose at their weakest pace since April, while new orders grew at a solid but slower rate. Employment stagnated after four straight months of solid job creation. The material has been provided by InstaForex Company – www.instaforex.com…

Malaysia Manufacturing PMI Falls To 51.4 – IHH

The manufacturing sector in Malaysia continued to expand in November, albeit at a slower pace, the latest survey from IHH revealed on Monday with a manufacturing PMI score of 51.4. That’s down from 52.1 in October, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. Individually, production levels fell to their lowest level since April, while new orders continued to advance at a solid if slower pace. Employment stagnated after four straight months of job creation. The material has been provided by InstaForex Company – www.instaforex.com…