Tag Archives: EA

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. Private Sector Employment Rises Much Less Than Expected In November

Private sector employment increased by much less than anticipated in the month of November, according to a report released by payroll processor ADP on Wednesday. ADP said private sector employment rose by 67,000 jobs in November after climbing by a revised 121,000 jobs in October. Economists had expected employment to jump by 140,000 jobs compared to the addition of 125,000 jobs originally reported for the previous month. “The job market is losing its shine,” said Mark Zandi, chief economist of Moody’s Analytics. “Job openings are declining and if job growth slows any further unemployment will increase.” The weaker than expected job growth came as a continued increase in employment in the service-providing sector was partly offset by a loss of jobs in the good-producing sector. The service-providing sector added 85,000 jobs, driven by healthcare and professional services, while the goods-producing sector lost 18,000 jobs. Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said job creation slowed across all company sizes but noted small companies continued to face more pressure than their larger competitors. The report said employment at small businesses edged up by 11,000 jobs, while large and mid-sized businesses added 27,000 jobs and 29,000 jobs, respectively….

Pound Spikes Up As Polls Suggest Tory Victory

The pound appreciated against its major counterparts in early European deals on Wednesday, as latest opinion polls suggested the ruling Conservative party securing a majority at the upcoming general election on December 12. Survey by YouGov for The Times and Sky News showed Tuesday that Tories had maintained its nine-point lead over the opposition Labour Party. The poll showed that Tory lead has fallen one point to 42 percent, while Labour was also down one point at 33 percent. The survey was conducted between December 2-3. It came after a Kantar poll put a 12 point lead for the Tories, at 44 percent, as against 32 percent for Jeremy Corbyn’s party. Survey results from IHS Markit and Chartered Institute of Procurement & Supply showed that the UK service sector contracted the most in eight months in November but the pace of decline was slower than initially estimated. The final services Purchasing Managers’ Index fell to 49.3 in November from 50.0 in October. Although the reading was above the flash reading of 48.6, the index signaled the steepest drop since March. Sentiment improved as encouraging Chinese data helped investors shrug off concerns surrounding U.S.-China trade talks. A report showed that activity…

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…

EUR/USD: plan for the US session on December 4. The euro held its position after good reports on the services sector

To open long positions on EURUSD, you need:In the first half of the day, we could observe the release of several reports on the services sector of the eurozone countries, which, as one, showed growth, which allowed buyers of the European currency to hold their positions above yesterday’s low, forming support of 1.1067. The eurozone composite PMI rose to 50.6 points in November this year. At the moment, the entire focus is shifted to data on the services sector in the United States. Weak reports will allow the bulls to re-test the resistance of 1.1092 and break above this maximum, which will strengthen the demand for EUR/USD and lead to an update of the levels of 1.1109 and 1.131, where I recommend taking the profits. With another unsuccessful attempt to grow above 1.1092, you can count on long positions after the correction from the support of 1.1067, provided that a false breakdown is formed or buy for a rebound immediately from the minimum of 1.1035.To open short positions on EURUSD, you need:Like yesterday, the bears will expect an unsuccessful consolidation above the resistance of 1.1092, which will be the first signal to open short positions in the euro, the purpose of…

Pound Little Changed After U.K. PMI Data

Following the release of the UK Markit/CIPS final composite PMI for November at 4.30 am ET Wednesday, the pound changed little against its major rivals. The pound was trading at 1.3042 against the greenback, 141.88 against the yen, 1.2900 against the franc and 0.8487 against the euro around 4:35 am ET. The material has been provided by InstaForex Company – www.instaforex.com…

EUR/USD. December 4. The euro took the lead in the confrontation with the dollar, but for how long?

EUR/USD – 4H.

On December 4, the EUR/USD pair performed an increase to the Fibo level of 50.0% (1.1080). However, this level did not become any strong barrier for the euro-dollar pair. At least, a pronounced rebound from it did not happen, but now the quotes can perform a reversal in favor of the US currency and resume the process of falling. It is difficult to say how long it will last and how strong it will be, as the pair closed over the downward trend corridor, indicating a desire to start an upward trend.
The information background can now be safely identified with only one figure on the world stage – with Donald Trump. The US president likes to be on the front pages of all periodicals, so he continues to distribute comments in which he criticizes half the world, not forgetting “his own garden” – the Fed and Jerome Powell. However, there is no shortage of Trump’s actions by US trade partners. The American president imposed duties against Argentina, Brazil, Turkey, China; he is preparing to impose duties on France, as well as automotive products from the European Union. Not to mention the expansion of the trade war with China, which…

Analysis of EUR / USD and GBP / USD for December 4. China is racing for new duties from Donald Trump

EUR / USD
On December 3, the EUR/USD pair completed without a fundamental change in the exchange rate. Despite the fact that the current wave marking involves the completion of the construction of the downward correctional part of the trend and the construction of a new upward trend, there are still doubts before the successful attempt to break the maximum of wave b that markets will be able to bring this scenario to life. Nevertheless, it will be possible to speak more confidently about the prospects for the euro currency after the peak of wave b remains below. If the attempt to break through the peak of wave b is unsuccessful, then the instrument can proceed to construct a horizontal wave structure.
Fundamental component:
On Tuesday, the news background for the euro-dollar instrument was weak. There were a lot of news and economic reports on Monday, which caused quite strong purchases of the euro. However, on Tuesday, there are no news except Donald Trump’s new threats to impose duties on the entire world, in particular the countries of Europe and China. It is the topic of the trade war with China that keeps many economists awake, as the next…