Analysis and forecast of the dynamics of EUR/USD pair based on COT (Commitment of Traders) report (there is still a high

EUR/USD pair:As before, the main negative factor for the pair is the drop in expectations that the ECB may not only decide not to maintain the current “soft” monetary policy this year, but also move on to increase incentive measures. This will ultimately weaken the single European currency in the future, which has already been observed in the last two months. In addition, an important factor remains weak economic growth in the euro region and the uncertainty of the consequences of Britain’s exit from the EU on the eurozone economy, as indicated by the latest economic statistics.The dynamics of the futures on EUR, according to COT reports (Commitments of Traders) provided by the Commodity Futures Trading Commission (CFTC) for the last week, which ended on 02/14, indicates that large traders continued to build up net speculative selling positions, which amounted to -85,700 contracts against -58,900 a week earlier. This is a quite noticeable increase in sales volumes. Why is it that the actions of large investors (Large Traders) should be paid attention to? Because it is they that form the significant and stable trends in the markets or directed movements in asset prices. As shown in the graph, the same dynamics…

Technical analysis of ETH/USD for 17/02/2020:

Crypto Industry News:Russia is apparently becoming an increasingly attractive market for cryptocurrency companies, as another large cryptocurrency platform adds Russian language support. Poloniex, a popular crypto exchange based in the United States, began offering Russian on its platform just three months after leaving the US market.Announcing the news on the blog, Poloniex stated that he began to introduce a “partially local” version of Poloniex for Russian-speaking users.The stock exchange noticed that the currently presented Poloniex interface in Russian is just a starting point, because the team translated only a small part of the platform. At the moment, the Russian Poloniex interface is indeed Russian, but only partially, because the main sections of the website, including ads, are still written only in English.Many services, such as crypto exchange, margin trading and loans, have been translated along with the registration page. However, the main pages, including information such as Poloniex fees, user agreement, privacy policy and others are still presented in English in the Russian version of Poloniex.In addition, the company also presented “local communities” along with Poloniex Poloneers on Twitter. The Poloniex Poloneers account on Twitter published the last posts before the announcement in Russian. The introduction of Russian on Poloniex Poloneers…

GBP/USD: plan for the European session on February 17. Small correction confirms the presence of those who wish to buy the

To open long positions on GBP/USD you need:
Buyers coped with a false breakout being formed in the support area of 1.3010 on Friday in the afternoon, which has already led the pound to a resistance of 1.3052, thus, determines the further direction of the pair. The main task of the bulls in the first half of the day will be a breakthrough and consolidation above this level, which will open a direct path to the area of highs 1.3093 and 1.3133, where I recommend taking profits. The more optimal scenario for opening long positions is the support of 1.3010, but, as at the end of last week, an important condition will be for a false breakout to form there. Buying for a rebound can only be considered at a support test of 1.2967. The lack of important fundamental statistics will help when buying the pound in order to push the pair upwards.
To open short positions on GBP/USD you need:
Sellers have already declared themselves on Friday, but failed to achieve a breakdown of 1.3010. This morning, the bears need a false breakout to form on the range of 1.3052, which can happen after an unsuccessful update of the…

Japan GDP Falls 6.3% On Year In Q4

Japan’s gross domestic product was down an annualized 6.3 percent in the fourth quarter of 2019, the Cabinet Office said in Monday’s preliminary report. That was well shy of expectations for a decline 3.8 percent following the 0.5 percent increase in the three months prior. On a seasonally adjusted quarterly basis, GDP sank 1.6 percent – again missing forecasts for a decline of 1.0 percent following the 0.1 percent gain in the third quarter. Nominal GDP was down 1.2 percent on quarter, missing expectations for a drop of 0.6 percent after gaining 0.6 percent in the previous three months. The GDP deflator was up 1.3 percent on year in Q4, the Cabinet Office said – exceeding expectations for an increase of 1.1 percent and up from 0.6 percent in the three months prior. Business spending skidded 3.7 percent on quarter, missing forecasts for a decline of 1.6 percent following the 0.5 percent increase in the third quarter. Private consumption sank 2.9 percent on quarter, missing forecasts for a drop of 2.0 percent following the 0.5 percent gain in the previous three months. The material has been provided by InstaForex Company – www.instaforex.com…

Forecast of EUR/USD on February 17, 2020

EUR/USD
Mixed data on the euro area and the US came out last Friday; Eurozone trade balance increased from $19.1 billion to $22.2 billion in December, GDP for the fourth quarter amounted to the expected 0.1%, but German GDP showed a zero increase against the expected 0.1%, which was interpreted by the market as a signal for further deterioration of the economy and the entire eurozone. In the US, industrial production fell by -0.3% in January against the forecast of -0.2% and capacity utilization fell from 77.1% to 76.8%, but retail sales for the same month showed a good increase of 0.3 %
As a result, the euro fell 12 points, breaking the support of the Fibonacci reaction level of 161.8%. The next target is the Fibonacci level of 200.0% at the price of 1.0745, then we are waiting for it to be conquered and for the euro to fall to the second target of 1.0680, at the intersection of the price channel line and the Fibonacci level of 223.6%.
On the four-hour chart, the signal line of the Marlin oscillator turned down, not reaching the territory of the bulls. We are waiting for the price to fall,…

Japan GDP Sinks 6.3% On Year In Q4

Japan’s gross domestic product contracted by an annualized 6.3 percent in the fourth quarter of 2019, the Cabinet Office said in Monday’s preliminary report. That was well shy of expectations for a decline 3.8 percent following the 0.5 percent increase in the three months prior. On a seasonally adjusted quarterly basis, GDP sank 1.6 percent – again missing forecasts for a decline of 1.0 percent following the 0.1 percent gain in the third quarter. Nominal GDP was down 1.2 percent on quarter, missing expectations for a drop of 0.6 percent after gaining 0.6 percent in the previous three months. The material has been provided by InstaForex Company – www.instaforex.com…

New Zealand Service Sector Spikes In January – BusinessNZ

The services sector in New Zealand continued to expand in January, and at a sharply higher rate, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 57.1. That’s up from the upwardly revised 52.1 in December (originally 51.9) and it moves further above the boom-or-bust line of 50 that separates expansion from contraction. Individually, supplier deliveries moved into expansion territory, while sales, employment, new orders and stocks all continued to expand at a faster rate. “For now, January’s glowing PSI report fits with the rather upbeat view of the economy expressed by the Reserve Bank last week. In the least, it helps offset a still soft looking PMI. Regardless, the near term outlook heavily depends on how much – and for how long – disruption occurs as a result of local weather conditions and COVID-19,” BNZ Senior Economist Doug Steel said. The material has been provided by InstaForex Company – www.instaforex.com…

Japan GDP Data On Tap For Monday

Japan will on Monday release preliminary Q4 numbers for gross domestic product, highlighting a busy day for Asia-Pacific economic activity. GDP is expected to have fallen a seasonally adjusted 1.0 percent on quarter and 3.8 percent on year after rising 0.4 percent on quarter and 1.8 percent on year in the three months prior. Nominal GDP is tipped to fall 0.6 percent after adding 0.6 percent in Q3. Japan also will see final December numbers for industrial production; the previous reading suggested an increase of 1.3 percent on month and a decline of 3.0 percent on year. New Zealand will see January results for the Performance of Services Index from BusinessNZ; in December, the index score was 51.9. China will provide January figures for new home prices; in December, prices were up 0.4 percent on month. Thailand will release Q4 numbers for GDP; in the previous three months, GDP added 0.1 percent on quarter and 2.4 percent on year. Singapore will see January figures for imports, exports and trade balance. In December, imports were worth SGD41.48 billion and exports were at SGD45.06 billion for a trade surplus of SGD3.48 billion. Indonesia will provide January numbers for imports, exports and trade…