USD/CHF at major resistance, prepare to sell

Share This: Price has reacted off major resistance at 1.0000 (Fibonacci projection, horizontal resistance, big figure) and we expect a drop to 0.9833 at least. RSI (34) is also reacting off major descending resistance which goes in line with our bearish view. Sell below 1.0000. Stop loss at 1.0050. Take profit at 0.9833. The material has been provided by InstaForex Company – Source: Instaforex

USD/CAD intraday technical levels and trading recommendations for November 15, 2016

Share This: On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of a significant bearish rejection was manifested during recent consolidations. On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where significant bearish pressure was originated. Bearish persistence below 1.3000-1.2970 (61.8% Fibonacci level) was needed to enhance bearish momentum in the market. However, on August 18 signs of bullish recovery were manifested around the price level of 1.2830 which led to the current bullish breakout above 1.3000. The USD/CAD pair was trapped between the price levels of 1.3000 (61.8% Fibonacci level) and 1.3360 (50% Fibonacci level) until bullish breakout took place last week. Note that the USD/CAD pair was challenging the upper limit of the depicted flag pattern around 1.3360-1.3400 which failed to apply enough bearish pressure on the pair. Bullish persistence above 1.3360 will probably liberate a quick bullish movement towards 1.3650 unless the pair comes to close below 1.3360 before the end of the current week. The material has been provided by InstaForex Company – Source: Instaforex

Gold analysis for November 15, 2016

Share This: Since our previous analysis, gold has been trading sideways at the price of $1,226.10. Using the market profile on 15M time frame, I found strong point of control at the price of $1,223.85. Watch for potential breakout of this level to confirm a downward movement. A downward target is set at the price of $1,211.50. Anyway, if the price breaks the level of $1,231.40, we may see a potential upward movement and potential testing of $1,252.00. Fibonacci pivot points: Resistance levels: R1: 1,228.50 R2: 1,233.00 R3: 1,240.00 Support levels: S1: 1,214.25 S2: 1,209.80 S3: 1,202.50 Trading recommendations for today: Watch for a breakout of support or reistance to confirm a further direction. The material has been provided by InstaForex Company – Source: Instaforex

Global macro overview for 15/11/2016

Share This: Global macro overview for 15/11/2016: The University of Michigan Consumer Sentiment Index was released at 91.6 points last Friday and today’s data of Retail Sales at 02:30pm GMT are highly anticipated. The reason behind the anticipation is quite simple: better-than-expected data might indicate that consumer spending will firm up in the final quarter of 2016. This is why economists are looking for another solid advance in retail sales for October. The market consensus suggests an advance of 0.6%, just like in September. Moreover, the anticipated gain indicates a 3.5% year-on-year rise, which would be the strongest annual rise in eight months. In conclusion, expectations are high and if the forecast holds up, the news will add more weight to expectations that the Federal Reserve is poised to raise interest rates next month. Let’s now take a look at the US Dollar index technical picture at the daily time frame before the news are released. The bulls are in control over this market and now it looks like they are waiting for the data release to trigger the attack (and a possible breakout) for the level of 100.48. In that case, the Dollar would be the most expensive since December 2015. The key level for further Dollar appreciation is technical support at the level of 99.12. The material has been provided by InstaForex Company – Source: Instaforex

EUR/NZD analysis for November 15, 2016

Share This: Recently, EUR/NZD has been moving sideways around the price of 1.5135. Using the market profile on the 15M time frame, I found a strong point of control from the background at the price of 1.5185. I found successful rejection of the point of control. The pair is trading below 21SMA, which is a sign of weakness. Watch for potential selling opportuntiies on the pullbaks. A downward target is set at the price of 1.5045. Fibonacci Pivot Points: Resistance levels R1: 1.5205 R2: 1.5250 R3: 1.5310 Support levels: S1: 1.5065 S2: 1.5025 S3: 1.4960 Trading recommendations for today: Watch for potential selling opportunities. The material has been provided by InstaForex Company – Source: Instaforex

Preparing for Doomsday: 8 Safe Haven Investments to Hedge Against a Trump (or Clinton) Presidency

Share This: The US and global economies have actually gained a lot of ground since the 2008 financial crisis. But anyone who thinks we’re on a steady path to the promised land clearly hasn’t been paying attention. Global economic growth has actually slowed to a crawl, inflation is sinking and consumer confidence remains low. Commodity prices are in their worst crisis of a generation and central banks are easing monetary policy at an alarming rate. The United Kingdom just decided to leave the European Union (EU) in a vote that has actually changed the fundamental outlook on the pan-European project. In the world’s largest economy, a presidential race is heating up that pits Democratic candidate Hillary Clinton versus Republican nominee and perennial outsider Donald Trump. On the one hand we have actually a conservative democrat that is billed as a war hawk and on the other hand, there’s Donald Trump, a man who has actually divided the Republican Party and campaigned on the platform of building walls, “getting tough” with China and banning Muslims from entering America. Faced with these choices and no real third option, there’s no doubting that the upcoming election will impact the globe in several ways. Should the economy or political system collapse under one of these two presidents, investors will be looking for ways to protect themselves. Not every investor is convinced that Clinton or Trump will be a disaster, but most will be looking for ways to protect their wealth versus the great unknown. Below we take a look at eight safe-haven investments you might want to consider ahead of the election. Gold No list of safe-havens can ever be finish without the yellow metal. Gold is perhaps the world’s oldest safe-haven, having been used continuously throughout human history. There are several reasons gold makes a great investment. Unlike fiat currencies like the dollar, gold retains its value over the long-term, has actually a finite supply and is considered a completely private investment (in the case of physical bullion). Obviously, gold investment comes in several forms – physical bullion, exchange-traded funds (ETFs), futures contracts and shareholdings in mining companies. When it comes to economic doomsday, physical bullion may be the haven you’re looking for. Gold’s prospects are on the rise, having gained well over 20% since the start of the year, meeting the technical definition of a bull market. The yellow metal’s price gains have actually slowed in recent months, presenting investors with a good opportunity to snatch it up at a reasonable cost. Silver Silver is the second major precious metal that has actually been long regarded as a true safe-haven. While several describe it as “poor man’s gold,” the grey metal has actually unique advantages. In addition to being an investment-grade metal, silver also has actually several industrial uses. And because it is a byproduct of other mining activities, its supply has actually been somewhat limited by the commodities slowdown. If the prices of primary commodities are low, miners will limit or […]