Spain Producer Prices Continue To Fall

Spain’s producer prices continued to decline in October, data from the statistical office INE showed Monday. Producer prices dropped 2.8 percent year-on-year but slower than the 3.3 percent decrease seen in September. This was the fifth consecutive decline in prices. The annual fall was largely driven by a sharp 8.2 percent decline in energy prices. Excluding energy, producer prices fell 0.2 percent after remaining flat over the last two months. On a monthly basis, producer price inflation rose to 0.5 percent in October from 0.1 percent a month ago, data showed. The material has been provided by InstaForex Company – www.instaforex.com…

Australian, NZ Dollars Advance On Rising Risk Appetite

The Australian and New Zealand dollars strengthened against their major counterparts in the Asian session on Monday amid rising risk appetite, as investors cheered signs of progress in the U.S-China trade talks. U.S. President Trump’s national security adviser Robert O’Brien said on Saturday that an initial trade agreement with China is still possible by the end of the year, but warned Washington would not turn a blind eye to what happens in Hong Kong. Chinese President Xi Jinping said China wants to work toward a phase one agreement on the basis of mutual respect and equality but will fight back if necessary. The next round of U.S. tariffs on Chinese goods is set to take effect on December 15th, potentially complicating efforts to reach an agreement. The aussie rose to 4-day highs of 74.00 against the yen and 0.9039 against the loonie, from its early lows of 73.74 and 0.9023, respectively. The aussie is likely to find resistance around 76.5 against the yen and 0.95 against the loonie. Reversing from an early low of 1.6239 against the euro, the aussie spiked up to a 6-day high of 1.6213. The aussie is seen finding resistance around the 1.60 level. The aussie…

Trader’s Diary for the EURUSD fo 11/25/2019

So, a new trading week has begun.There was a sharp decline in the euro and the abolition of growth on the closing last week. Also, the EURUSD made at least three attempts to break above 1.1100 – but each time it failed.Like in football: “You don’t score – they hammer you.” Sellers prevailed and dropped the euro below the important mark of 1.1045. Thus, the growth has been canceled, but there is no signal to a downtrend yet. Hence the range.However, we are in no hurry to “sell from the bottom up”.Clear boundaries of the range are visible, where the top is 1.1100 and the bottom 1.0985.The range is very narrow which is within a little more than a good day candle.Therefore, it is more profitable to wait for a breakthrough in one of the borders and take a position on the continuation of the movement.Meanwhile, on the news, the plot of US trade negotiations with China has not yet received any confirmation. In England, on the other hand, there is a tough fight before the December 12 election and in the United States, a plot with the impeachment of Trump is developing.A large US news package will be released Wednesday…

Trading Plan for the EURUSD for 11/25/2019

The weak state of the eurozone economy and the soft position of the new head of the ECB K. Laggard in his first public speech and this played against the euro last week.A long attempt to go above the level of 1.1100 failed due to this, the EURUSD rate could not withstand the sellers’ attack and fell below 1.1050.We exited purchases at breakeven 1.1045 and the euro has moved into a range state.Nevertheless, we expect movement and take a breakthrough position – since the range is narrow.We buy with a break above 1.1100, whereas, we sell on a break down 1.0985.This week, a large package of important US data will be released on Wednesday, November 27: inflation data, the second reading on GDP and the Beige Book Fed report.The material has been provided by InstaForex Company – www.instaforex.com…

Indicator Analysis: Daily Review on November 25, 2019, on the GBP / USD Currency Pair

Trend analysis (Fig. 1).On Monday, the price, moving up, will test the retracement level of 38.2% – 1.2883 (yellow dashed line). After reaching this level, working down with a lower target of 1.2823 is a lower fractal.Fig. 1 (daily chart).Comprehensive analysis:- Indicator analysis – up;- Fibonacci levels – up;- Volumes – down;- Candlestick analysis – up;- Trend analysis – down;- Bollinger Lines – down;- Weekly schedule – down.General conclusion:On Monday, the price may start a pullback on upward movement.The price, moving up, will test the retracement level of 38.2% – 1.2883 (yellow dashed line). If this level is reached, working down with a lower target of 1.2823 is a lower fractal.An unlikely scenario is to immediately go down with the target at 1.2764 – the lower fractal (blue dashed line).The material has been provided by InstaForex Company – www.instaforex.com…

Indicator Analysis: Daily Review on November 25, 2019, on the EUR / USD Currency Pair

The pair on Friday, once again straying from the resistance line, rallied down, reaching a pullback level of 76.4% – 1.1016 (red dotted line). On Monday, strong calendar news is expected at 09.00 Universal time (Euro). Today the market will try to move up.Trend analysis (Fig. 1).On Monday, the first upper goal is to achieve a pullback level of 23.6% – 1.1035 (blue dashed line). If successful, the next upper target 1.1047 is a pullback level of 38.2% (blue dashed line).Fig. 1 (daily chart).Comprehensive analysis:- Indicator analysis – up;- Fibonacci levels – up;- Volumes – up;- Candlestick analysis – up;- Trend analysis – down;- Bollinger Lines – down;- Weekly schedule – down.General conclusion:On Monday, an upward movement is possible.The first upper target is 1.1035 retracement level is 23.6% (blue dashed line). If successful, the next upper target 1.1047 is a pullback level of 38.2% (blue dashed line).An unlikely but possible scenario is a downward movement with the target 1.0990 – the lower fractal (blue dashed line).The material has been provided by InstaForex Company – www.instaforex.com…

Analysis of EUR / USD and GBP / USD for November 25. EU’s business activity and Christine Lagarde’s speech brought back demand

EUR / USD
November 22 ended for the pair EUR / USD with the loss of 40 basis points. Thus, the alleged wave 2 is still considered completed. If this is true, then the quotes of the pair will continue to decline with targets located near the 9th figure within wave 3 . At the same time, it should be noted that the trend section, which began on October 31, may well take a 3-waveform, and the instrument – is unlikely to continue its decline under the 9th figure. However, at the moment, I expect to build a full-fledged downward trend section with updating the previous minimums of the euro-dollar instrument.
Fundamental component:
On Friday, the news background for the euro-dollar instrument was strong enough. There were a lot of economic reports and a speech by ECB Chairman Christine Lagarde. However, all economic reports which were related to business activity in the services and manufacturing sectors of the USA and the European Union, and the data were unambiguous. Moreover, business activity in the EU industry remained at a low level (46.6), while in the services sector, it decreased compared to October (51.5). In the US, business activity in the…

Technical analysis for the week of November 25-30 on the EUR/USD currency pair

At the beginning of last week, the pair moving up, tested the resistance line – 1.1093 (red bold line) and after that, made a downward movement, breaking through the pullback level of 50% – 1.1028 (red dashed line), but reach the lower fractal 1.0987 (blue dashed line). Next week, the price will try to make a movement upwards.
Trend analysis.
This week, the price will move up with the first target of 1.1061 – a pullback level of 38.2% (blue dashed line). When breaking through the top of this level, the next upper target will be the resistance line 1.1079 (red bold line).
Fig. 1 (weekly schedule).
Comprehensive analysis:
– indicator analysis – up;
– Fibonacci levels – up;
– volumes – up;
– candlestick analysis – neutral;
– trend analysis – neutral;
– Bollinger Lines – down;
– monthly chart – down.
The conclusion of a comprehensive analysis is an upward movement.
The overall result of calculating the candle of the EUR/USD currency pair according to the weekly chart: the price of the week is likely to have an upward trend, with the presence of the first lower shadow of the weekly white candlestick (Monday – down) and…