Categories
Forex News

*U.S. Business Inventories Unchanged In September

This section is a must-read for those, who decided to start on trading in Forex. Here, you will find everything that will ensure a successful start in trading: the basics of trading principles, guidelines, instructive articles, video tutorials, training courses, forex library, demo accounts, free lessons, and many other helpful materials.

Recommended Reading

Categories
Forex News

U.S. Import Prices Fall 0.5% In October Amid Steep Drop In Fuel Prices

Import prices in the U.S. fell by much more than expected in the month of October, according to a report released by the Labor Department on Friday.

The Labor Department said import prices slid by 0.5 percent in October after inching up by a revised 0.1 percent in September.

Economists had expected import prices to dip by 0.2 percent compared to the 0.2 percent uptick originally reported for the previous month.

The bigger than expected decrease in import prices was driven by lower petroleum prices, which plummeted by 3.7 percent. Prices for fuel imports plunged by 2.9 percent in October after jumping by 1.5 percent in September.

Excluding fuel imports, import prices dipped by 0.2 percent in October after edging down by 0.1 percent for two straight months.

Falling prices for non-fuel industrial supplies and materials, foods, feeds, and beverages, consumer goods, and capital goods all contributed to the continued decline.

Meanwhile, the report said export prices edged down by 0.1 percent in October after dipping by 0.2 percent in September. The modest decrease matched economist estimates.

The drop in export prices came as a 0.3 percent decrease in prices for non-agricultural exports more than offset a 1.9 percent jump in prices for agricultural exports.

Compared to the same month a year ago, import prices in October were down by 3.0 percent, while export prices were down by 2.2 percent.


Recommended Reading

Categories
Forex News

U.S. Retail Sales Rebound Slightly More Than Expected In October

After reporting an unexpected drop in retail sales in the previous month, the Commerce Department released a report on Friday showing U.S. retail sales rebounded by slightly more than expected in the month of October.

The Commerce Department said retail sales rose by 0.3 percent in October, reversing the 0.3 percent drop in September. Economists had expected retail sales to rise by 0.2 percent.

The increase in retail sales was partly due to a rebound in sales by motor vehicle and parts dealers, which climbed by 0.5 percent in October after plunging by 1.3 percent in September.

Excluding the rebound in auto sales, the report said retail sales crept up by 0.2 percent in October after edging down by 0.1 percent in September. Ex-auto sales had been expected to increase by 0.4 percent.

The uptick in ex-auto sales reflected notable increases in sales by gas stations and non-store retailers, which were partly offset by drops in sales by furniture and home furnishings stores and sporting goods, hobby, musical instrument and book stores.

The report said closely watched core retail sales, which exclude autos, gasoline, building materials and food services, rose by 0.3 percent in October after edging down by 0.1 percent in September.

Andrew Hunter, Senior U.S. Economist at Capital Economics, said the increase in core sales was “broadly in line with our expectations and pushed the 3m/3m annualized growth rate down to an eight-month low of 4.0%, from 6.3%.”

“But that’s still a reasonably healthy rate and isn’t a huge surprise given the slowdown in employment growth over the past year,” he added.


Recommended Reading

Categories
Forex News

U.S. Industrial Production Slumps Much More Than Expected In October

This section is a must-read for those, who decided to start on trading in Forex. Here, you will find everything that will ensure a successful start in trading: the basics of trading principles, guidelines, instructive articles, video tutorials, training courses, forex library, demo accounts, free lessons, and many other helpful materials.

Recommended Reading

Categories
Forex News

Dollar Little Changed Following U.S. Industrial Production

This section is a must-read for those, who decided to start on trading in Forex. Here, you will find everything that will ensure a successful start in trading: the basics of trading principles, guidelines, instructive articles, video tutorials, training courses, forex library, demo accounts, free lessons, and many other helpful materials.

Recommended Reading

Categories
Forex News

*U.S. Industrial Production Slumps 0.8% In October

This section is a must-read for those, who decided to start on trading in Forex. Here, you will find everything that will ensure a successful start in trading: the basics of trading principles, guidelines, instructive articles, video tutorials, training courses, forex library, demo accounts, free lessons, and many other helpful materials.

Recommended Reading

Categories
Forex News

Dollar Mixed Ahead Of U.S. Industrial Production

This section is a must-read for those, who decided to start on trading in Forex. Here, you will find everything that will ensure a successful start in trading: the basics of trading principles, guidelines, instructive articles, video tutorials, training courses, forex library, demo accounts, free lessons, and many other helpful materials.

Recommended Reading

Categories
Forex News

U.S. Import Prices Drop Much More Than Expected In October

This section is a must-read for those, who decided to start on trading in Forex. Here, you will find everything that will ensure a successful start in trading: the basics of trading principles, guidelines, instructive articles, video tutorials, training courses, forex library, demo accounts, free lessons, and many other helpful materials.

Recommended Reading

Categories
Market Anakysis

November 15, 2019 : GBP/USD Intraday technical analysis and trade recommendations.

analytics5dcebd1a8d062.jpg

Few weeks ago, Further Bullish advancement was demonstrated towards 1.2650 then 1.3000 after the neckline of the depicted Double-Bottom pattern (1.2400-1.2415) was breached to the upside.

Since October 21, the GBP/USD pair has failed to achieve a persistent bullish breakout above the depicted SUPPLY-zone (1.2980-1.3000) which corresponds to a previous Prominent-TOP that goes back to May 2019.

Instead, an ascending wedge reversal pattern was confirmed on October 22. This indicated a high probability of bearish reversal around the mentioned price zone.

Hence, a quick bearish movement was anticipated towards 1.2780 (Key-Level) where some bullish recovery was recently demonstrated on October 24.

The recent Bullish rejection around the price levels of 1.2780, indicated another temporary bullish movement towards 1.2980-1.3000 where another long-term bearish swing towards 1.2780 was initiated as expected.

Since last week, lack of enough bearish pressure has been demonstrated on the chart. Instead, sideway consolidation movement is being expressed between 1.2780-1.2900.

The short-term outlook remains bearish as long as consolidations are maintained below 1.2900 on the H4 chart.

On the other hand, a quick bearish breakout below 1.2780 is needed to enable further bearish decline towards 1.2600-1.2650 where another episode of bullish recovery should be anticipated.

Please note that H4 candlestick closure above 1.2900 invalidates the previous bearish scenario allowing a bullish movement to pursue towards 1.2970 again.

Trade Recommendations:

Intraday traders should wait for bearish breakout below 1.2780 as a valid SELL entry. Expected Bearish target is projected towards 1.2650 then probably 1.2560.

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

Performed by Mohamed Samy,
Analytical expert
InstaForex Group © 2007-2019

Benefit from analysts’ recommendations right now

Top up trading account

Get a bonus from InstaForex

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Recommended Reading

Categories
Market Anakysis

November 15, 2019 : EUR/USD Intraday technical analysis and trade recommendations.

analytics5dcebb100a18d.jpg

On October 2, a bullish breakout above 1.0940 confirmed the depicted Inverted Head & Shoulders reversal Pattern which enabled further bullish advancement towards (1.1000 -1.1020)

This bullish movement has been maintained above the depicted bullish trend.

On October 7, temporary sideway consolidation range was demonstrated around the price zone of (1.1000 -1.1020) before further bullish movement was resumed towards 1.1175 where significant bearish rejection was originated.

The price zone around (1.1175 – 1.1190) stood as a significant SUPPLY-Zone that demonstrated bearish rejection for two consecutive times in a short-period.

Moreover, the short-term technical outlook has turned into bearish after breakdown below 1.1090 was achieved (the depicted uptrend line and 50% Fibonacci Retracement Level).

On the other hand, a long-term Double-Top pattern was demonstrated with neckline located around 1.1075-1.1090 which offered valid bearish positions upon last week’s retesting.

As anticipated, further bearish decline was executed towards 1.1025 and 1.0995 where temporary bullish rejection is being demonstrated.

Currently, signs of bullish recovery are manifested around 1.1000 with expected bullish target projected towards 1.1085.

Any bullish pullback towards 1.1065-1.1085 should be watched for early bearish rejection and another valid SELL entry.

On the other hand, earlier bearish breakout below 1.1000 will probably enable quick bearish decline towards 1.0945 where a prominent demand level was previously located.

Trade recommendations :

Conservative traders are advised to wait for bullish pullback towards Fibonacci Zone 61.8% – 50% (1.1065-1.1085) for a valid SELL entry.

Initial T/P levels to be projected towards 1.1045 and 1.1000, while S/L should be placed above 1.1115.

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

Performed by Mohamed Samy,
Analytical expert
InstaForex Group © 2007-2019

Benefit from analysts’ recommendations right now

Top up trading account

Get a bonus from InstaForex

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Recommended Reading