Tag Archives: DE30

GBPUSD and EURUSD: British pound received a new charge of vigor. Euro continues to stagnate after mixed service sector reports

The British pound continues to hit highs after news that the Conservative Party could get a majority in Parliament in the December 12 general election. Such a scenario will allow incumbent Prime Minister Boris Johnson to secede from the EU and bring into play the agreed Brexit plan.
In the morning, I noticed that according to the Kantar report, the ruling Conservative Party of Great Britain increased its margin from the Labour Party to 12 points, which supports the pound, as it changes investors’ attitude to risk for the better. But do not forget that the closer we get to the election date, the more attention investors will pay to the survey results.
The pound buyers’ optimism was also filled with enthusiasm by the UK services activity report, which was revised upward after preliminary data. Despite the fact that the index is below the mark of 50 points, it showed a slight increase in November from a preliminary estimate. According to the IHS Markit report, the index of procurement managers for the UK services sector was 49.3 points in November against a preliminary estimate of 48.6 points. However, one growth to the level of 50 points is clearly not…

U.S. Service Sector Growth Slows More Than Expected In November

A report released by the Institute for Supply Management on Wednesday showed the pace of growth in U.S. service sector activity slowed by more than anticipated in the month of November. The ISM said its non-manufacturing index dipped to 53.9 in November after climbing to 54.7 in October. While a reading above 50 still indicates service sector growth, economists had expected the index to edge down to 54.5. “The non-manufacturing sector had a slight pullback in November,” said Anthony Nieves, Chair of the ISM Non-Manufacturing Business Survey Committee. He added, “The respondents hope for a resolution on tariffs and continue to be hampered by constraints in labor resources.” The bigger than expected decrease by the headline index was partly due to a steep drop by the business activity index, which tumbled to 51.6 in November from 57.0 in October. Meanwhile, the new orders index rose to 57.1 in November from 55.6 in October and the employment index climbed to 55.5 from 53.7. The report said the prices index also increased to 58.5 in November from 56.6 in October, indicating a faster rate of price growth. On Monday, the ISM released a separate report showing U.S. manufacturing activity contracted for the…

December 4, 2019 : GBP/USD Intraday technical analysis and trade recommendations.

Since October 21, the GBP/USD pair has failed to achieve a persistent bullish breakout above the depicted SUPPLY-zone (1.2980-1.3000) which corresponds to a previous Prominent-TOP that goes back to May 2019.Moreover, an ascending wedge reversal pattern was confirmed on October 22. This indicated a high probability of bearish reversal around the mentioned price zone.Hence, a quick bearish movement was anticipated towards 1.2780 (Key-Level) where bullish recovery was recently demonstrated on two consecutive visits.Since then, the GBP/USD pair has been trapped between the mentioned price levels (1.2780-1.3000) until Today when bullish breakout above 1.3000 was achieved.Short-term technical outlook remains bullish as long as consolidations are maintained above 1.3000 on the H4 chart.On the other hand, the pair is currently testing the upper limit of the newly-established depicted short-term bullish channel. That’s why, high probability of bearish rejection exists around the current price levels.Conservative traders may have to wait for a bearish pullback towards 1.2980-1.3000 for a valid BUY signal. Estimated bullish target to be located around 1.3120 and 1.3150.On the other hand, please note that any bearish closure below 1.2980 invalidates the bullish scenario for the short-term allowing further bearish decline towards 1.2900 then 1.2850.The material has been provided by InstaForex Company…

Oil Prices Rally Before OPEC+ Meet

Oil prices rose sharply on Wednesday amid expectations that OPEC and its partners, including Russia, will extend their current production agreement by three months when they meet later this week. Bullish inventory data also helped to lift prices. Benchmark Brent crude climbed nearly 2 percent to $62.01 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were up 1.7 percent at $57.05. The OPEC countries and its allies are preparing to approve deeper crude output cuts this week, when they meet in Vienna, according to Iraq, the group’s second-biggest producer. Iraq oil minister Thamer Ghadhban told reporters on Tuesday that a deeper cut is being preferred by a number of key members when they meet on Thursday and then on Friday. Meanwhile, according to the industry group American Petroleum Institute (API), crude oil inventories in the U.S. fell by more than expected last week. Stockpiles of crude oil fell by 3.7 million barrels, more than double expectations of a decline of 1.7 million barrels. The material has been provided by InstaForex Company – www.instaforex.com…

NASDAQ_ideas for the session

Good afternoon,NASDAQ has dropped sharply in the recent 2 days from 8,400 levels. It found support in the 8,160 area, lows of early November, now is almost 150 ticks higher. While the yellow trendline, the steepest descending channel has been broken this morning, providing some technical relief, I would like to SELL close to 8,325 levels (red line) with stops around 8,345.The 1st target in the green line should be met somewhere around 8,270. Check out if it’s broken.Stay safeThe material has been provided by InstaForex Company – www.instaforex.com…

BTC 12.04.2019 – Watch for another down wave

Crypto news:Cryptocurrency data analytics firm, CoinMetrics, recently published the 28th issue of its weekly ‘State of the Network’ series, reporting changes in network data over the past week. According to CoinMetrics, mining revenue for both Bitcoin and Ethereum are down significantly for the second consecutive week, mostly due to the pronounced fall in prices over the same period.The report also showed that ETH fees dropped by 14.4% this week, compared to the 20% growth seen the week before, which CoinMetrics attributed to the launch of the Gods Unchained marketplace.The data also highlighted that Bitcoin’s market value to realized value (MVRV) ratio had started to increase over the past week, after dipping to a six month low of 1.23 last week. The report noted that as of 1 December, BTC MVRV was 1.32.Technical analysis:Bitcoin has been trading higher in the past 8hours. Anyway, BTC reached and rejected of the very important resistance at the price of $7.650, which his good sign that sellers are still in control. In my opinion BTC did re-test of the broken bear flag pattern. Watch for selling opportunities and downward targets at $7.079, $6.889 and $6.561. MACD oscillator is showing neutral stance and no expansion.Resistance levels are…

Gold 12.04.2019 – Watch for potential breakout of $1.484 to confirm further upside continuation

Gold is building pivots around Pitchfork ML and important resistance at $1.479. It is very common that after the price reach Pitchfork ML, we see multiply pivots to form around that ML. The breakout of the $1.484 will confirm further upside and potential test of $1.484,$1.500. Stochastic oscillator is showing overbought condition but at the same time I found that new high in reading, which confirms stronger money flow on the upside.Support levels are seen at the price of $1.472 and $1.466. Resistance levels are set at the price of $1.484, $1.494 and $1.503.The material has been provided by InstaForex Company – www.instaforex.com…

Technical analysis recommendations for EUR/USD and GBP/USD on December 4

Economic calendar (Universal time)
In today’s economic calendar, you need to pay attention to the following events:
9:30 (UK) – data on indexes of business activity in the services sector;
13:15 (USA) – change in the number of people employed in the non-agricultural sector;
15:00 (USA) – Procurement Managers Index for the non-manufacturing sector;
15:30 (USA) – crude oil reserves.
EUR / USD
The strength of the resistance that was met yesterday (area 1.1082 daily Kijun + weekly Fibo Kijun + upper border of the daily cloud) managed to delay the further development of players to the upside. As a result, there has been inhibition, which can lead to the formation of rebound. In this case, support can be 1.1055-61 (weekly Tenkan + daily Fibo Kijun) and 1.1030-37 (lower boundary of the daily cloud + daily Tenkan). Now, breaking through the encountered resistance (1.1082) and the liquidation of the daily cross (1.1102), as noted earlier, will open the way to the most significant resistance of this area at 1.1145 (monthly Tenkan + weekly Kijun).
On the other hand, both key levels of low halves (1.1080 central pivot level + 1.1033 weekly long-term trend) are currently reinforced by important…