Technical analysis of EUR/USD for December 03, 2019

Overview:
The EUR/USD pair continues to move upwards from the level of 1.1027. Today, the first support level is currently seen at 1.1027, the price is moving in a bullish channel now.
Amid the previous events, the price is still moving between the levels of 1.1027 and 1.1132.
The daily resistance and support are seen at the levels of 1.1101 and 1.1132 respectively. In consequence, it is recommended to be cautious while placing orders in this area. Thus, we should wait until the uptrend channel has completed.
Furthermore, if the trend is able to break out through the first resistance level at 1.1101, we should see the pair climbing towards the double top (1.1132) to test it.
Therefore, buy above the level of 1.1055 with the first target at 1.1101 in order to test the daily resistance 2 and further to 1.1132. Also, it might be noted that the level of 1.1175 ais a good place to take profit because it will form a double top.

Moreover, in larger time frames the trend is still bullish as long as the level of 1.1027 is not breached. This support (1.1027) has been rejected two times confirming the validity of an uptrend….

EUR/USD. December 3. Market focus on Christine Lagarde’s “fundamental valuation” and Donald Trump’s duties

EUR/USD – 4H.

On December 3, the EUR/USD pair performed consolidation over the correction levels of 38.2% (1.1057) and 23.6% (1.1029) on the new grid of Fibo levels and performed an increase to the Fibo level of 50.0% (1.1080). Also, the closure was performed over the downward trend corridor, which is no longer working. Based on this, I expect the euro-dollar pair to continue to grow in the coming days, although there are also enough factors in favor of the opposite scenario. For the most part, they are economic. At the same time, it is impossible to deny the ability of the euro currency to grow by 100-200 points.
Yesterday had quite a rich background of information. Two key events of the day could and caused a change in the balance of supply and demand for the EUR/USD currency pair. Demand for the euro has grown thanks to the actions of Donald Trump, as well as economic reports on business activity in the European Union and America. It is easy to guess that these events were negative for the US dollar, although the actions of the US president can be interpreted in different ways. I would like to note at once that earlier…

GBP/USD. December 3. The visit of Donald Trump to the UK could harm the conservatives

GBP/USD – 4H.

As seen on the 4-hour chart, the GBP/USD pair performed an increase to the upper line of the trend range, which has a minimum downward slope. Thus, today, traders will count on fixing the quotes of the pair on this line, followed by continued growth in the direction of the levels of 1.3011 and 76.4% (1.3044), from each of which the possible rebound or bounce off the trend line of the corridor with a turn in favor of the US dollar and start falling towards the correctional level of 61.8% (1.2836).
Parliamentary elections in the UK are approaching, and the conservatives and Labor continue to use all available means to increase the attractiveness of their party among the population of the country. Yesterday, December 2, Donald Trump arrived in the UK on a working visit. He will attend the NATO Summit. However, despite the friendship between Boris Johnson and Donald Trump, the number of meetings between the two leaders can be kept to a minimum. It is reported that Boris Johnson wants to protect the influence of Donald Trump on the election campaign. The Prime Minister said earlier: “There are things that we traditionally do, like loving allies and friends,…

Egypt Non-Oil Private Sector Contracts Most Since 2017

Egypt non-oil private sector contracted at the fastest pace in more than two years in November, survey results from IHS Markit showed Tuesday. The non-oil private sector Purchasing Managers’ Index fell to 47.9 in November from 49.2 in October. The score suggested the fastest decline since September 2017. Output contracted for the fourth consecutive month in November. New orders also declined at a faster pace. Moreover, employment fell for the first time in four months. Firms reduced their output charges to stimulate demand. At the same time, input cost inflation reached the second-slowest in the series history. Looking ahead, future sentiment decreased marginally in November, falling below the average for the series. The material has been provided by InstaForex Company – www.instaforex.com…

Trader’s Diary: EURUSD on 12/03/2019, Market condition

EURUSDOn Monday, December 2, the euro received a strong impulse upwards, this is seen in the chart above. Many traders probably rated this as the beginning of a large, strong trend. Moreover, there has not been a real strong movement in the euro for a very long time, since October 2018.The issue of trend is a question of market conditions. And market condition is a very important issue for the architecture of the Trading System.As I wrote in my past article, the Trading System is divided into simple and complex systems, where in a simple system the question of market condition is simply ignored. Vehicle parameters and filters are selected in such a way as to exclude periods of long-term losses and drawdowns. The disadvantage of this approach is that the longer we trade on a Trading System (TS), the more likely the market will be stuck for a long time in an unfavorable phase for our system, and no settings and filters will be saved.A radical solution is to introduce the concept of Market State into a TS and then remove the system in an unfavorable market. It is obvious that in a trend it is not worth trading a…

Australia Central Bank Holds Key Rate As Expected

Australia’s central bank left its key interest rate unchanged on Tuesday, as policymakers wait to see the impact of previous easing. The board of the Reserve Bank of Australia, governed by Philip Lowe, decided to leave the cash rate unchanged at a record 0.75 percent. The central bank had lowered the rate by 25 basis points in October, which was the third such reduction this year. “Given these effects of lower interest rates and the long and variable lags in the transmission of monetary policy, the Board decided to hold the cash rate steady at this meeting,” the bank said in a statement. The bank repeated that it was reasonable to expect that an extended period of low interest rates will be required in Australia to reach full employment and achieve the inflation target. The bank reiterated that it is prepared to ease monetary policy further if needed. The bank observed that the lower cash rate has put downward pressure on the exchange rate, which is supporting activity across a range of industries. It has also boosted asset prices, which in time should lead to increased spending, including on residential construction. Marcel Thieliant, an economist at Capital Economics expects…

Technical analysis of ETH/USD for 03/12/2019:

Crypto Industry News:Israeli cryptographic entrepreneur Moshe Hogeg and his blockchain company Stox (STX) are facing a lawsuit by a dissatisfied US investor.A Vancouver investor accused Hogega of serious contract violations and alleged fraud that resulted in losses of at least $ 430,000, according to a lawsuit filed in the US District Court for West Washington.In a 43-page lawsuit, plaintiff Sean Snyder claims that the company has failed to meet its obligations under the White Paper by issuing more tokens than originally announced and ultimately causing significant impairment of its digital currency. In particular, the defendants allegedly flooded the market with 16 million STX of all 43 million STX in circulation, the plaintiff claims.According to Snyder, Hogeg and the other defendants involved are responsible for embezzling investors from around the world for “hundreds of millions of dollars.”Founded by Hogeg, Stox is a forecast market platform based on Ethereum software. Together with Stox, Hogeg participates in many cryptocurrency ventures because he founded Sirin Labs, the main developer of Blockchain smartphones, and is the chairman of the Blockchain LeadCoin network.Among the many accusations, the plaintiff also claimed that Hogeg had misappropriated investors’ money to make a series of costly purchases. According to the lawsuit,…