Tag Archives: automated trading

February 24, 2020 : GBP/USD Intraday technical analysis and trade recommendations.

On December 13, the GBPUSD pair looked overpriced around the price levels of 1.3500 while exceeding the upper limit of the previous bullish channel.On the period between December 18th – 23rd, bearish breakout below the depicted channel followed by temporary bearish closure below 1.3000 were demonstrated on the H4 chart.However, immediate bullish recovery (around 1.2900) brought the pair back above 1.3000.Bullish breakout above 1.3000 allowed the mentioned Intraday bullish pullback to pursue towards 1.3250 (the backside of the broken channel) where bearish rejection and a new wide-ranged movement channel were established between (1.3200-1.2980).Recent temporary bearish breakdown below 1.2980 enhanced further bearish decline towards 1.2890 (the lower limit of the movement channe) where evident bullish rejection has been manifested on February 10.Last week, temporary bullish breakout above 1.3000 has been expressed until Wednesday when another bearish decline below 1.3000 brought the GBPUSD pair back towards the lower limit of the channel @ 1.2870 -1.2850 where another episode of bullish recovery is being demonstrated.The current bullish pullback will probably pursue towards the price zone of 1.2980-1.3000 which may fail to offer enough bearish rejection.Although the Intermediate-term technical outlook remains bearish below the price level of 1.3000 (Supply-zone), any bullish breakout above 1.3000 invalidates…

Slovenia Output Prices Inflation Slows For Third Month

Slovenia’s output price inflation eased for the third month in a row in January, figures from the Statistical Office of the Republic of Slovenia showed on Monday. Output prices rose 0.3 percent year-on-year in January, after a 0.6 percent increase in December. Energy industry prices grew 11.4 percent annually in January, while those in the production of capital goods fell 1.1 percent. Producer prices for electricity and water supply rose by 15.2 percent and 8.5 percent, respectively. Manufacturing prices decreased 0.3 percent. On a month-on-month basis, output prices remained unchanged in January, after a 0.2 percent in the preceding month. The material has been provided by InstaForex Company – www.instaforex.com…

German Business Confidence Improves Slightly

Germany’s business confidence improved marginally in February despite fears about the coronavirus outbreak, survey data from the ifo institute showed Monday. The business climate index rose to 96.1 in February from a revised 96.0 in January. The score was expected to fall to 95.3 from January’s initial estimate of 95.9. The German economy seems unaffected by developments surrounding the coronavirus, ifo President Clemens Fuest said. The survey results and other indicators suggest economic growth in the first quarter will amount to 0.2 percent, he added. Although companies assessed their current situation as a little worse, they are less pessimistic about the next six months, the ifo survey showed. The current conditions index came in at 98.9 versus 99.2 a month ago. This was above the forecast of 98.6. Meanwhile, the expectations index rose to 93.4 from 92.9. The expected reading was 92.1. In manufacturing, the business confidence strengthened for the third consecutive month. This was due to considerably less pessimistic expectations. However, companies’ assessment of their current situation was worse. Confidence among service providers fell again and they were somewhat less satisfied with their current situation and were more skeptical concerning the coming months. In trade, the business climate…

GBP/USD: plan for the US session on February 24. The pound lost all Friday’s positions, however, this is a great chance for

To open long positions on GBPUSD, you need:
In the first half of the day, the bulls failed to catch on to the support of 1.2927, the breakdown of which led to a rapid fall of the pound in the area of 1.2884, from which I recommended opening long positions. A good rebound from this level with the building of the lower border of the new ascending channel keeps the bulls’ hope for the continued growth of the pound in the short term. An important task for the second half of the day will be a breakdown and consolidation above the resistance of 1.2927, which will lead to an update of the highs in the area of 1.2960 and 1.2996, where I recommend taking the profits. If the bears again return the pair to the minimum of 1.2884, it is better to abandon long positions and wait for the update of the minimum of 1.2851, where I recommend buying immediately for a rebound.
To open short positions on GBPUSD, you need:
Bears continue to control the market. The return to the support of 1.2927 led to complete overlap of Friday’s growth. Now an important task for sellers is to break through and consolidate below…

BTC analysis for 02.24.2020 – Watch for breakout of the Pitchfork downward parallel line to confirm further drop towards

Industry news:JPMorgan’s most recent Perspectives report claims that blockchain is still years away from achieving mainstream adoption, despite making strides among certain sectors. According to the 74-page report , JPMorgan analysts contend that blockchain has seen extensive growth and use among certain companies like stock exchanges, but is still several years from reaching mainstream distribution. The report’s authors claimed to see “long-term potential” for Distributed Ledger Technology (DLT) to transform the current business model for banks by providing a more efficient method for information transfer. However, the analysts said the pace of blockchain adoption will depend upon “resolving legal and technical concerns,” especially those related to cross-platform integration. Technical analysis:BTC has been trading sideways at the price of $9.780. I found that BTC failed to test the Median Pitchfork line in the recent upside move, which is sign that sellers are still present and downside is expected.I would watch for selling opportunities If I see the breakout of the support at $9.666. Downward targets would be set at the price of $9.265 and $9.053.MACD oscillator is showing neutral stance and in this condition is not that valid.Major resistance levels are set at $10.022 and $1.300Support levels are set at $9.670, $9.265…

EUR/USD for February 24,2020 – Pitchfork Warning line 1 at the pice of 1.0810 on the test, watch for buillish opportunities

Technical analysis:EUR/USD has been trading sideways at the price of 1.0820. The Pitchfork Warning line at at 1.0810 is on the test and I do expect upside rotation and test of 1.0862 and 1.0886.I would watch for buying opportunities due to the test of support confluence at 1.0810. Upward targets are set at the price of 1.0862 and 1.0886. MACD oscillator is showing bullish divergence on the last pushes down, which is great confirmation for further upside movementStochastic oscillator is in oversold condition with potential for further upside.Resistance levels are set at the price of 1.0840, 1.0860 and 1.0886Support levels are set at the price of 1.0806 and major at 1.0778.The material has been provided by InstaForex Company – www.instaforex.com…

Technical analysis of EUR/USD for February 24, 2020

Overview: Pivot point: 1.0835.The EUR/USD pair continues to move downwards from the level of 1.0835. Ranging between the levels of 1.0869 and 1.0778.Last week, the pair dropped from the level of 1.0835 to the bottom around 1.0778. But the pair has rebounded from the bottom of 1.0778 to close at 1.0791. Today, the first support level is seen at 1.0778, the price is moving in a bearish channel now. Furthermore, the price has been set below the strong resistance at the level of 1.0835, which coincides with the 38.2% Fibonacci retracement level. This resistance has been rejected several times confirming the veracity of a downtrend. Additionally, the RSI starts signaling a downward trend. As a result, if the EUR/USD pair is able to break out the first support at 1.0778, the market will decline further to 1.0735 in order to test the weekly support 2. Consequently, the market is likely to show signs of a bearish trend. So, it will be good to sell below the level of 1.0835 with the first target at 1.0735 and further to 1.0704. On the other hand, stop loss is to be placed above the level of 1.0869.The material has been provided by InstaForex…

Singapore Inflation Steady In January

Singapore’s consumer price inflation remained stable in January, data from the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Monday. The consumer price index rose 0.8 percent year-on-year in January, same as seen in December. Economists had expected a 0.9 percent increase. The rise in inflation was driven by an increase in private road transport inflation, and accommodation cost. MAS core inflation, which excludes the costs of accommodation and private road transport, rose to 0.3 percent in January from 0.6 percent in the preceding month. On a month-on-month basis, consumer prices fell 0.2 percent in January. The MAS core CPI remained unchanged in January. The material has been provided by InstaForex Company – www.instaforex.com…

Trading plan for EUR/USD on February 24, 2020. The virus attacks outside of China: Italy, Korea, Iran.

The coronavirus was once again the number 1 news.Although China managed to stop the spread of the infection in the country, new cases had appeared in different countries.In China, there are 77.5 thousand cases in total. Many of those have recovered already, moreso, the number of patients is decreasing. Because of this, Chinese authorities have announced that non-residents of Hubei province, who are not ill, are now allowed to leave the province. In other words, everything is under control in China. Moreover, in order to overcome the downturn caused by the epidemic, the Chinese government has promised a stimulus package for the economy.On the other hand, at the moment, there are already 700 people infected in Korea, there is a sharp increase of 152 cases in Italy, and about 50 cases more is recorded in Iran.As a result, Austria closed communications with Italy, while Turkey and Armenia closed the border with Iran.It is clear that in the event of a global epidemic, we will face a severe global economic crisis, perhaps more severe than in 2008-09, because there will be a huge decline in world trade.EUR/USD: because of the negative news on the virus, a gap was opened downwards in the…

Technical analysis of ETH/USD for 24/02/2020:

Crypto Industry News:The Malta Financial Services Authority (MFSA) says it has never approved the Binance cryptocurrency exchange to operate in this country.MFSA issued a public statement today in which it states that Binance “is not authorized by MFSA to operate in the field of cryptocurrency”. The agency emphasized that recent media reports incorrectly define Binance as “a Malta cryptocurrency company,” while the stock exchange “may not fall under regulatory oversight.”While major local publications refer to Binance as a Malta-regulated crypto company, MFSA has apparently issued a similar statement before, claiming:”Following reports in some media about Binance as a cryptocurrency company in Malta, the Malta Financial Services Authority (MFSA) recalls that Binance is not authorized by MFSA to operate in the field of cryptocurrency and therefore is not subject to MFSA regulatory oversight.”MFSA also emphasizes that conducting cryptography activities in the country requires an MFSA license in accordance with the Act on Virtual Financial Assets of 2018.Binance announced that it will open an office in Malta in 2018 after pressure from Japanese regulators forced the stock exchange to move. At that time, Binance CEO Changpeng Zhao (CZ) said he was invited by the government to Malta to look at an upcoming bill…