Tag Archives: gold trading

Overview of the GBP/USD pair. April 2. The pound is calm. The British want to extend the “transition period”

4-hour timeframe

Technical details:
Higher linear regression channel: direction – downward.
Lower linear regression channel: direction – downward.
Moving average (20; smoothed) – upward.
CCI: 91.3539
The GBP/USD currency pair starts the fourth trading day of the week with a rather weak (for current realities) movement along with the Murray level of “3/8”-1.2451. Over the past few days, the pound/dollar pair has worked out this level several times, but never managed to gain a foothold above it or, on the contrary, push off from it and start a downward correction. Thus, we believe that traders have come to a certain “point of equilibrium” – the balance of supply and demand. In order for the pair to continue the upward trend or complete it, you need serious fundamental reasons or the entry of major players into the currency market with large transactions. During the past day, macroeconomic statistics from overseas could support the US dollar (as was the case with the euro currency), however, quite unexpectedly, the correlation through the US dollar was broken in the last two days. Before that, the EUR/USD and GBP/USD pairs moved almost identically with adjustments for volatility.
In principle, there is no news from the UK at the moment. Except for new reports…

Overview of the EUR/USD pair. April 2. Donald Trump is expecting “two difficult and painful weeks” for the United States.

4-hour timeframe

Technical details:
Higher linear regression channel: direction – downward.
Lower linear regression channel: direction – downward.
Moving average (20; smoothed) – sideways.
CCI: -120.7428
The fourth trading day of the week begins with the continuation of the downward movement, which was initially identified as a correction. However, at the moment, the quotes of the EUR/USD pair are fixed below the moving average line, so the trend is changed to a downward one. The same can be said for the Ichimoku indicator system, where the price overcame the Kijun-sen line. Thus, now the movement can continue with the goal of the Murray level of “1/8”-1.0864 or lower. However, we already warned in yesterday’s article that the current downward movement may be nothing more than a “correction against a correction”. Thus, according to all the canons of the size of the corrective movement, it can end in the area of 1.0833-1.0893. If this hypothesis is correct, then the downward movement will not continue for long. Moreover, the movement to the south means the growth of the US currency. Yesterday, macroeconomic statistics supported the dollar. However, in addition to statistics, there is now a much more important “epidemic factor” in the world. And, according to the latest information,…

South Korea Inflation Rate Slows To 1.0% In March

Consumer prices in South Korea were up just 1.0 percent on year in March, Statistics Korea said on Thursday. That was in line with expectations and down from 1.1 percent in February. On a monthly basis, inflation gained 0.2 percent – again matching forecasts and up from the flat reading in the previous month. Core consumer prices, which exclude the volatile costs of fresh food items, gained just 0.4 percent on year. That was shy of expectations for 0.5 percent, which would have been unchanged from the February reading. On a monthly basis, core CPI fell 0.2 percent – missing expectations for a flat reading following the 0.1 percent gain a month earlier. The material has been provided by InstaForex Company – www.instaforex.com…

*South Korea Overall Inflation +0.2% On Month, +1.0% On Year In March

South Korea Overall Inflation +0.2% On Month, +1.0% On Year In March The material has been provided by InstaForex Company – www.instaforex.com…

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Treasuries Move Back To The Upside Amid Renewed Coronavirus Concerns

Following the pullback seen in the previous session, treasuries moved back to the upside during the trading day on Wednesday. Bond prices pulled back off their best levels in afternoon trading but remained firmly positive. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 6.3 basis points to 0.635 percent. The rebound by treasuries came as traders looked for safe havens came amid renewed coronavirus concerns after White House officials warned of nearly a quarter million deaths from the pandemic. During a White House press conference on Tuesday, President Donald Trump warned the U.S. is facing a “very, very painful two weeks.” White House officials are now projecting between 100,000 and 240,000 deaths in the U.S. as a result of the outbreak, which Trump previously sought to downplay. “This could be a hell of a bad two weeks. This is going to be a very bad two, and maybe three weeks. This is going to be three weeks like we’ve never seen before,” Trump said. The comments from the White House come as data from Johns Hopkins University shows there are more than 190,000 confirmed coronavirus cases in the U.S. and…

U.S. Manufacturing Activity Shows Modest Contraction In March

With the coronavirus outbreak weighing on demand, the Institute for Supply Management released a report on Wednesday showing a contraction in U.S. manufacturing activity in the month of March. The ISM said its purchasing managers index dipped to 49.1 in March after edging down to 50.1 in February. While a reading below 50 indicates a contraction in manufacturing activity, economists had expected the index to show a steeper drop to 45.0. The modest decrease by the headline came as the new orders index tumbled to 42.2 in March from 49.8 in February, hitting its lowest level since March of 2009. The production index also fell to 47.7 in March from 50.3 in February, while the employment index slid to 43.8 from 46.9 in the previous month. The report also said the prices index plunged to 37.4 in March from 45.9 in February, indicating the fastest decrease in prices since January of 2016. “Comments from the panel were negative regarding the near-term outlook, with sentiment clearly impacted by the coronavirus (COVID-19) pandemic and energy market volatility,” said Timothy Fiore, Chair of the ISM Manufacturing Business Survey Committee. On Friday, the ISM is scheduled to release a separate report on activity in…

Dollar Little Changed After ISM Manufacturing, Construction Spending

Following the release of U.S. ISM manufacturing PMI for March and construction spending for February at 10.00 am ET Wednesday, the greenback changed little against its major rivals. The greenback was trading at 107.24 against the yen, 0.9663 against the franc, 1.2418 against the pound and 1.0929 against the euro around 10:05 am ET. The material has been provided by InstaForex Company – www.instaforex.com…