Tag Archives: forex trend

GBP/USD. December 3. Results of the day. Trump: I’m a major Brexit fan. Before the election, the Tories walk along the blade

4-hour timeframe
Amplitude of the last 5 days (high-low): 69p – 89p – 52p – 63p – 53p.
Average volatility over the past 5 days: 65p (average).
The GBP/USD currency pair followed the example of the European currency today and made an impressive jump, reaching a psychological mark of 1.3000. It seems that after a lull for a month and a half, traders began to return to the market. However, the time has not yet come for such conclusions. First, market participants continue to ignore any macroeconomic statistics from the United States and the United Kingdom. Secondly, the resistance area of 1.2970–1.3010, from which the pair has bounced several times in the last two months, has not been overcome, which means there may be another rebound from it. Thirdly, it is not clear why a tangible upward movement began today?
An index of business activity in the UK construction sector was released today, which showed a slight improvement (45.3 against 44.2 a month earlier). However, as in the case of business activity in the industrial sector, the construction industry is still experiencing a decline, so the “improvement” is quite formal. There were no more macroeconomic publications today, and we…

Brazil Economic Growth Improves In Q3

Brazil’s economy expanded at a faster pace in the third quarter, data from the statistical office IBGE showed on Tuesday. Gross domestic product grew 1.2 percent on a yearly basis, after rising 1 percent in the second quarter. The accumulated GDP for the last four quarters also grew 1 percent, after rising 1.1 percent a quarter ago. Quarter-on-quarter, economic growth improved to 0.6 percent from 0.5 percent. The growth was driven by a 1.3 percent rise in agriculture, 0.8 percent rise in industry and 0.4 percent expansion in services. The material has been provided by InstaForex Company – www.instaforex.com…

Spain Unemployment Increases In November

Spain’s unemployment increased in November, data from the Ministry of Labor, Migration and Social Security showed on Tuesday. The number of registered unemployed increased by 20,525 in November from the previous month. The average increase in unemployment over the last ten years was 20,477. Nonetheless, the number of unemployed totaled 3.198 million, the lowest for the month of November since 2008. Compared to last year, the number of people out of work decreased by 54,683 or 1.68 percent in November. The youth unemployment, which covers persons below 25 years of age, decreased by 0.26 percent from the previous month. Unemployment in agriculture decreased 1,715 and fell by 607 in industry. Meanwhile, unemployment in construction increased 1,738 and by 23,934 in services. The material has been provided by InstaForex Company – www.instaforex.com…

USDJPY bearish pattern is being activated

In our previous posts I mentioned that USDJPY price has formed a bearish wedge pattern. We also noted that resistance is at 109.60-110.30 area, where price got rejected yesterday. Now price is moving below and out of the wedge pattern. This is a sign of weakness.Red lines – wedge patternBlack line – bearish divergenceUSDJPY is breaking support at the lower wedge boundary. Next support is at 108.20-108.30. If price breaks below 108.20-108.30 then we have confirmation of the wedge break down. Resistance remains at 109.90 now while longer-term resistance is at the 110.30 level. The sequence of higher highs and higher lows remains intact, as long as price is above 108.20. If this sequence gets canceled then we have confirmation of the break down and we should expect price to at least move towards 106.55.The material has been provided by InstaForex Company – www.instaforex.com…

Gold reaches second upside target of $1,480.

Gold price has reached $1,480 which was our target since we saw that the key support at $1,450-60 was respected. We noted on time the bullish divergence before the first leg up towards $1,478 and since respecting the recent lows we warned again of another leg higher towards $1,480-90.Green lines – bearish channel Red line – RSI resistanceOrange rectangle – targetGold price is moving higher today towards the upper channel boundary and major Fibonacci resistance at $1,490. From the end of last week and early this week we noted that we changed our view to short-term bullish and that the risk reward favored bullish positions. Now Gold is approaching important resistance area. If bulls manage to recapture $1,490-$1,500 then we could see Gold price move much higher. Until then we need to keep a close eye on the resistance as a rejection at $1,490-$1,500 would be a bearish sign.The material has been provided by InstaForex Company – www.instaforex.com…

Oil Prices Hold Steady On Talk Of Further Supply Cuts

Oil prices held steady on Tuesday amid growing expectations of deeper output cuts when OPEC and its allies meet this week. Benchmark Brent crude edged up 0.1 percent to $60.98 a barrel, while U.S. West Texas Intermediate crude futures were up 0.2 percent at $56.08 a barrel. There were reports that Saudi Arabia wants OPEC to deepen oil production cuts in order to anchor oil prices before Saudi Aramco’s initial public offering. The deal reportedly to be discussed by OPEC and other oil producers at a meeting this week would add about 400,000 barrels per day to existing cuts of 1.2 million barrels per day. That said, it remains unclear if there is consensus within the group to achieve a deeper cut. Russian Energy Minister Alexander Novak said today he expected this week’s meeting to be constructive but added Moscow had yet to finalize its position in talks on possible additional supply curbs. OPEC ministers will meet in Vienna on Thursday while the wider OPEC+ group will gather on Friday. Investors also grappled with prospects of fresh global trade disputes after the Trump administration announced plans to reinstate tariffs on metal imports from Brazil and Argentina and…

BTC 12.03.2019 – Broken bearish flag in the overall downward trend

BTC has been trading sideways at the price of $7.292. The overall trend is still bearish and my advice is still to watch for selling opportunities. Downward targets are set at the price of $6.846 and $6.560.Ichimoku Indicator analysis:There is Kijun-Tenkan bear cross on the 4H time-frame, which is good indication for the further downside. I would watch for potential breakout of mini-support at the price of $7.200 to confirm downside continuiation and eventual test of $6.546 and $6.560.Resistance levels are seen at the price of $7.350 and $7.667.The material has been provided by InstaForex Company – www.instaforex.com…

GBP/USD 12.03.2019 – The breakout of the 1-month long symmetrical triangle to the upside, strong potential for test 1.3167

GBP/USD did breakout of the 1-month long continuation symmetrical triangle, which is good indication for the further upside movement. Watch for buying opportunities on the dips. Projected target is set at the price of 1.3170.MACD is showing increase on the upside momentum and new wave up, which is good confirmation for our long bias.Support levels are seen at the price of 1.2947 and 1.2877. Resistance level is seen at the price of 1.3167.The material has been provided by InstaForex Company – www.instaforex.com…

GBP/USD: plan for the US session on December 3. Pound expected continued growth

To open long positions on GBPUSD, you need:Even in my morning review, I paid attention to the probability of breaking the resistance of 1.2949, which led to such powerful upward momentum. Now, buyers of the pound are trying to gain a foothold above the level of 1.2983, which the bears ignored and decided to concede. The main calculation is for a new maximum of 1.3017, where I recommend fixing the profits. If the pressure on the pound returns in the afternoon, you can expect to buy from the same level of 1.2949. The absence of important fundamental statistics for the US can play into the hands of buyers of the pound, so we cannot exclude the breakout of the maximum of 1.3017, which will lead GBP/USD to the resistance area of 1.3074.To open short positions on GBPUSD, you need:Sellers are in no hurry to return to the market after the demolition of several stop orders. Therefore, it is best to focus on the resistance of 1.3017, the formation of a false breakout on which will be a signal to sell the pound. Otherwise, it is best to sell GBP/USD on a rebound from 1.3074. The more important task of the bears…