Tag Archives: forex currency trading

GBP/USD. December 5. Results of the day. Pound will continue to grow under the influence of a single factor

4-hour timeframe
Amplitude of the last 5 days (high-low): 52p – 63p – 53p – 82p – 138p.
Average volatility over the past 5 days: 96p (average).
The GBP/USD currency pair continues its upward movement as if nothing had happened. Not a single important macroeconomic report was published either in the UK or in the US today, but this did not prevent traders from continuing confident purchases of the British pound. What does this day? Firstly, that traders continue to completely ignore all macroeconomic information, and secondly, that the political factor for the pound/dollar pair is not just in the first place, it occupies the only place in the list of factors that affect the movement of the pair. Thus, only one conclusion can be drawn now: the pound is growing and can continue to grow only on the expectations of market participants that the Conservative Party will win the parliamentary elections and not just win, but win with the necessary number of deputy mandates, which will allow Boris Johnson to implement Brexit under an agreement with the European Union unhindered, which was reached literally “in the last 5 minutes” back in October.
Based on the conclusions made, we…

U.S. Factory Orders Rise In Line With Estimates In October

New orders for U.S. manufactured goods increased in line with economist estimates in the month of October, according to a report released by the Commerce Department on Thursday. The Commerce Department said factory orders rose by 0.3 percent in October after falling by a revised 0.8 percent in September. Economists had expected orders to rise by 0.3 percent compared to the 0.6 percent drop originally reported for the previous month. Orders for durable goods climbed by 0.5 percent compared to the previously reported 0.6 percent increase, while orders for non-durable goods came in unchanged. The report said shipments of manufactured goods were virtually unchanged in October after falling by 0.4 percent in September. Inventories crept up by 0.1 percent after rising by 0.3 percent in the previous month. Subsequently, the Commerce Department said the inventories-to-shipments ratio in October was unchanged from the previous month at 1.40. The material has been provided by InstaForex Company – www.instaforex.com…

U.S. Trade Deficit Narrows To Smallest In Sixteen Months In October

Primarily reflecting a notable decrease in the value of imports, the Commerce Department released a report on Thursday showing the U.S. trade deficit narrowed in the month of October. The Commerce Department said the trade deficit narrowed to $47.2 billion in October from a revised $51.1 billion in September. Economists had expected the trade deficit to narrow to $48.7 billion from the $52.5 billion originally reported for the previous month. The narrower trade deficit in October reflected the smallest trade deficit since the $44.4 billion shortfall in May of 2018. The deficit shrank as the value of imports tumbled by 1.7 percent to $254.3 billion in October after plunging by 1.6 percent to $258.7 billion in September. The value of imports fell to its lowest level since November of 2017. A sharp drop in imports of consumer goods led the decrease in the value of imports, while imports of automotive vehicles, parts and engines also fell amid the strike at General Motors (GM). Meanwhile, the report said the value of exports edged down by 0.2 percent to $207.1 billion in October after slumping by 0.9 percent to $207.6 billion in September. Decreases in exports of drugs, diamonds, civilian aircraft engines…

Greece GDP Growth Slows In Q3

Greece’s economy continued to grow in the third quarter, led by exports, but the pace of expansion more than halved, preliminary figures from the Hellenic Statistical Authority showed on Thursday. Gross domestic product grew a seasonally and calendar-adjusted 0.6 percent quarter-on-quarter after a 1.3 percent increase in the previous three months. The second quarter growth figure was revised up from 0.8 percent. Quarterly growth was driven by exports that rose 4.5 percent. Imports grew 0.6 percent. Private consumption decreased 0.4 percent from the previous quarter and investments fell 5 percent. On a seasonally adjusted basis, the GDP rose 2.3 percent year-on-year after a 2.8 percent increase in the previous quarter, which was revised from 1.9 percent. The economy expanded a non-adjusted 2.7 percent year-on-year after a 2.9 percent growth in the second quarter, revised from 1.9 percent. The material has been provided by InstaForex Company – www.instaforex.com…

BTC 12.05.2019 – Downside expected

Crypto news:While Ukraine’s Ministry of Digital Transformation was only established in August of this year, it has been very active in the crypto field. For example, it recently partnered with Binance to jointly work on new crypto rules. However, the ministry wants to learn from its neighboring countries as well.On Wednesday, the Ukrainian Government’s online portal reported that the Ministry of Digital Transformation partnered with crypto exchange, Currency.com, a Belarusian service that is allegedly the first regulated exchange in the Commonwealth of Independent States (CIS) region to provide support for crypto currencies, fiat, and tokenized assets. On a side note, Ukraine is also part of the CIS.The cooperation between the Ukrainian government and the Belarusian crypto exchange will touch upon IT legislation, including regulating crypto assets. Ukraine wants to adopt the Belarusian experience in managing the crypto space within a legal framework.Technical analysis: Bitcoin has been trading sideways at the price of $7.330. Anyway, my bearish view from yesterday didn’t change. 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…

USD/JPY analysis for December 05, 2019 – Broken beaar flag pattern, potential test of 108.44

USD/JPY has been trading sideways in past 24 hours at the price of 108.80. Anyway, I do expect more downside due to potential end of the upward correction (bear flag) and new momentum down on the oscillator. Downward targets are set at the price of 108.44, 108.28 and 107.92.MACD oscillator did show the new momentum down in the background and it seems that it is ready for the new wave down. Slow line is in the negative territory, which is good sign for the further downside. Resistance level is found at 109.00.The material has been provided by InstaForex Company – www.instaforex.com…

*Ireland Oct Industrial Production -0.1% On Month Vs. +8.7% In September

Ireland Oct Industrial Production -0.1% On Month Vs. +8.7% In September The material has been provided by InstaForex Company – www.instaforex.com…

EUR/USD. December 5. Failure in the negotiations between China and the United States may collapse the euro

EUR/USD – 4H.

On December 5, the EUR/USD pair performed growth to the correctional level of 61.8% (1.1104), and this level has become quite a serious obstacle for traders. In the morning trading on Thursday, there is again a slight tendency of traders to buy, but their activity remains quite low. If during the day the pair passes 30-35 points, it is very difficult to earn on them with the help of any transactions. Especially if during the whole day the pair does not show movement in a certain direction, but jumps up and down. Thus, traders can now expect to resume growth in the direction of the correction levels of 61.8% (1.1104) and 76.4% (1.1133), but it is unlikely that activity will increase, as well as the strength of the pair’s movement.Sometimes it seems that the participants in the US-China trade battle are playing some kind of understandable game. How else can traders react to events that contradict each other? The States and their president, Donald Trump, make statements almost every two days that trade negotiations on a deal are ongoing and call them optimistic. In practice, we see the adoption of two laws by the States at once, which China…

India Leaves Policy Rates Unchanged

India’s central bank maintained its interest rates on Thursday after lowering it five times this year. The Monetary Policy Committee of the Reserve Bank of India, headed by Shaktikanta Das, unanimously decided to leave the repo rate unchanged at 5.15 percent and the reverse repo at 4.90 percent. The bank was widely expected to ease the policy rates by quarter points. The central bank has so far lowered its key rate five times this year by a cumulative 135 basis points. The bank said there is monetary policy space for future action. “However, given the evolving growth-inflation dynamics, the MPC felt it appropriate to take a pause at this juncture,” the bank said. The bank lowered sharply its real GDP growth outlook for 2019-20 to 5 percent from 6.1 percent. The bank cited a delay in revival of domestic demand, a further slowdown in global economic activity and geo-political tensions as downside risks. Meanwhile, the CPI inflation projection was revised upwards to 5.1-4.7 percent for the second half of the financial year 2019-20 and 4.0-3.8 percent for the first half of FY 2020-21. The material has been provided by InstaForex Company – www.instaforex.com…

Where to buy EUR/USD pair better?

Good afternoon, dear traders! I present to you a trading idea for the EUR/USD pair
So, yesterday, as we expected, the EUR/USD pair broke the extreme on November 25 during the European session. However, a series of news came out in America that drove the pair to a point of initial growth. Thus, we have a V-shaped close of the day in America, but it’s a classic pin bar on D1.
Nevertheless, the most interesting thing is that, Nkito has not touched the buyers’ feet over the past 2.5 days. On D1, we see the so-called “double bottom” and pin bar. Therefore, buyers were trapped. On the one hand, Americans have been selling on the horizon for two days, and on the other, buyers are trapped below the level of 1.10642.
This can be earned twice. All you need to do is to move quickly downwards to breakdown 1.10642 and after it false breakdown, take longs to 1.11800-1.2
One of these events can easily be implemented on Friday on unemployment in the United States.
Good luck in trading and see you at the next reviews!
The material has been provided by InstaForex Company – www.instaforex.com…