Tag Archives: commodities

USDCAD bulls could reach 1.3180 if they recapture 1.31.

USDCAD has mostly moved sideways over the last few trading sessions between 1.3080 and 1.3030. Price has formed a bullish flag pattern and a break above 1.3090-1.31 could open the way for a move towards 1.3180.Green lines – bullish flag patternUSDCAD has stopped the advance at the 38% Fibonacci retracement of the decline. However now I believe it is gathering power for another leg higher towards the 61.8% Fibonacci level. The bullish flag pattern target also is the same Fibonacci level and with a break above 1.3090-1.31 I believe we will see 1.3180-1.32. Support is at 1.3030 and breaking below it will cancel my short-term bullish view. The RSI is not in overbought levels and turning upwards. This is going to be a very interesting week in USDCAD.The material has been provided by InstaForex Company – www.instaforex.com…

Ichimoku cloud indicator Daily analysis of EURUSD

EURUSD is still in bullish daily trend according to the Ichimoku cloud indicator as price remains above the Daily Kumo (cloud). However on Thursday we had a weak sell signal as the tenkan-sen crossed the kijun-sen.Green lines- bullish channelEURUSD remains inside the bullish channel and above cloud support. However the week ended badly for EURUSD as price broke below 1.11 and we have a clear cross of the tenkan- and kijun-sen. Last hope for bulls is for the cloud and channel support at 1.1060 area to hold. Breaking below this area would be a bigger and more important sell signal. Price is approaching an area of great importance and an area with high probabilities for a trend reversal to the upside. Next week will be crucial for the first quarter performance of EURUSD.The material has been provided by InstaForex Company – www.instaforex.com…

How to Take Partial Profit in MT4 (Android) Forex Trading

https://www.7FigureBizOp.com/cainbrian?SOURCE=forextrainingbonus – Make sure to get access to my Free value FB group on Forex Trading. In this video, you’ll discover how to take a partial profit on the Android version of the MetaTrader 4 app. aka the MT4 mobile android app. Most people may not know how to close out partial profits in forex from one position.… Read More »

U.S. Industrial Production Dips Amid Slump In Heating Demand

With utilities output plummeting amid a slump in demand for heating, the Federal Reserve released a report on Friday showing a modest pullback in U.S. industrial production in the month of December. The Fed said industrial production fell by 0.3 percent in December after climbing by a downwardly revised 0.8 percent in November. Economists had expected industrial production to dip by 0.2 percent compared to the 1.1 percent jump originally reported for the previous month. The pullback in production came as utilities output plunged by 5.6 percent in December after surging up by 1.0 percent in November, with unseasonably warm weather leading to a large decrease in demand for heating. Meanwhile, the report said manufacturing output crept up by 0.2 percent in December after spiking by 1.0 percent in November, while mining output jumped by 1.3 percent following a 0.2 percent decrease. The Fed also said capacity utilization for the industrial sector slid to 77.0 percent in December after climbing to an upwardly revised 77.4 percent in November. Economists had expected capacity utilization to slip to 77.1 percent from the 77.3 percent originally reported for the previous month. Capacity utilization in the utilities sector led the way lower, tumbling…

Dollar Stronger On Upbeat U.S., China Economic Data

The U.S. dollar drifted higher against its most major trading partners in the European session on Friday, as solid economic data from China and the U.S. eased concerns about global growth. Official data showed that the Chinese economy expanded in line with expectations in the fourth quarter. Gross domestic product grew 6.0 percent year-on-year in the fourth quarter, the same rate as seen in the third quarter and in line with expectations. Chinese industrial production and retail sales beat forecasts in December, rising 6.9 percent and 8.0 percent, respectively year-on-year. Overnight data showed that U.S. retail sales rose 0.3 percent in December, in line with forecasts. Separate reports showed that weekly jobless claims unexpectedly fell in the week ended January 11 and NAHB housing market index came in near a 20-year high in January. The data reduced the possibility of further interest rate cuts from the Federal Reserve. Investors await U.S. industrial production, consumer confidence index, building permits and housing starts data due in the American session for more direction. The currency traded mixed against its major counterparts in the Asian session. While it rose against the yen and the franc, it held steady against the euro. Versus the pound,…

Eurozone Construction Output Recovers In November

Eurozone construction output recovered in November, Eurostat reported Friday. Construction output increased 0.7 percent on a monthly basis, in contrast to a 0.5 percent fall in October. The recovery was driven by a 1.1 percent rise in building construction and a 0.3 percent rise in civil engineering. On a yearly basis, construction output growth accelerated to 1.4 percent from 0.9 percent a month ago. In the EU28, construction output increased 1.1 percent on month, taking the annual growth to 1.4 percent. The material has been provided by InstaForex Company – www.instaforex.com…

Portugal Producer Prices Decline For Seventh Month

Portugal’s producer prices fell for the seventh month in a row in December, figures from Statistics Portugal showed on Friday. The producer price index fell 1.6 percent year-on-year in December, following a 1.9 percent decline in November. Excluding the energy group, producer prices fell 1.4 percent in December, following a 1.1 percent decrease in the previous month. Prices for intermediate goods and energy declined 3.3 percent and 2.6 percent, respectively, in December. Investment goods prices rose 0.1 percent. On a month-on-month basis, producer prices fell 0.6 percent in December, following a 0.5 percent drop in the prior month. The material has been provided by InstaForex Company – www.instaforex.com…

Austria Inflation Accelerates In December

Austria’s consumer price inflation rose in December, figures from Statistics Austria showed on Friday. The consumer price index rose 1.7 percent year-on-year in December, following a 1.1 percent increase in November. Prices for housing, water and energy, and leisure and culture grew by 2.5 percent, each in December. Prices for restaurants and hotels rose by 3.4 percent and those for various goods and services increased 2.3 percent. On a monthly basis, consumer prices rose 0.7 percent in December. The EU measure of harmonized index of consumer prices, or HICP, rose 1.8 percent annually in December, following a 1.2 percent increase in the prior month. On a month-on-month basis, the HICP gained 0.7 percent in December. On an average, consumer price inflation was 1.5 percent in 2019 from 2.0 percent in 2018. The HICP rose to 1.5 percent in 2019 from 2.1 percent in the last year. The material has been provided by InstaForex Company – www.instaforex.com…