Tag Archives: gold trading

*Little Improvement In Education Levels Despite Increased Spending: OECD Survey

Little Improvement In Education Levels Despite Increased Spending: OECD Survey 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…

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…

Technical analysis of EUR/USD for December 03, 2019

Overview:
The EUR/USD pair continues to move upwards from the level of 1.1027. Today, the first support level is currently seen at 1.1027, the price is moving in a bullish channel now.
Amid the previous events, the price is still moving between the levels of 1.1027 and 1.1132.
The daily resistance and support are seen at the levels of 1.1101 and 1.1132 respectively. In consequence, it is recommended to be cautious while placing orders in this area. Thus, we should wait until the uptrend channel has completed.
Furthermore, if the trend is able to break out through the first resistance level at 1.1101, we should see the pair climbing towards the double top (1.1132) to test it.
Therefore, buy above the level of 1.1055 with the first target at 1.1101 in order to test the daily resistance 2 and further to 1.1132. Also, it might be noted that the level of 1.1175 ais a good place to take profit because it will form a double top.

Moreover, in larger time frames the trend is still bullish as long as the level of 1.1027 is not breached. This support (1.1027) has been rejected two times confirming the validity of an uptrend….

GBP/USD. December 3. The visit of Donald Trump to the UK could harm the conservatives

GBP/USD – 4H.

As seen on the 4-hour chart, the GBP/USD pair performed an increase to the upper line of the trend range, which has a minimum downward slope. Thus, today, traders will count on fixing the quotes of the pair on this line, followed by continued growth in the direction of the levels of 1.3011 and 76.4% (1.3044), from each of which the possible rebound or bounce off the trend line of the corridor with a turn in favor of the US dollar and start falling towards the correctional level of 61.8% (1.2836).
Parliamentary elections in the UK are approaching, and the conservatives and Labor continue to use all available means to increase the attractiveness of their party among the population of the country. Yesterday, December 2, Donald Trump arrived in the UK on a working visit. He will attend the NATO Summit. However, despite the friendship between Boris Johnson and Donald Trump, the number of meetings between the two leaders can be kept to a minimum. It is reported that Boris Johnson wants to protect the influence of Donald Trump on the election campaign. The Prime Minister said earlier: “There are things that we traditionally do, like loving allies and friends,…

Trader’s Diary: EURUSD on 12/03/2019, Market condition

EURUSDOn Monday, December 2, the euro received a strong impulse upwards, this is seen in the chart above. Many traders probably rated this as the beginning of a large, strong trend. Moreover, there has not been a real strong movement in the euro for a very long time, since October 2018.The issue of trend is a question of market conditions. And market condition is a very important issue for the architecture of the Trading System.As I wrote in my past article, the Trading System is divided into simple and complex systems, where in a simple system the question of market condition is simply ignored. Vehicle parameters and filters are selected in such a way as to exclude periods of long-term losses and drawdowns. The disadvantage of this approach is that the longer we trade on a Trading System (TS), the more likely the market will be stuck for a long time in an unfavorable phase for our system, and no settings and filters will be saved.A radical solution is to introduce the concept of Market State into a TS and then remove the system in an unfavorable market. It is obvious that in a trend it is not worth trading a…

Comprehensive analysis of movement options of #USDX vs EUR/USD vs GBP/USD vs USD/JPY (H4) for December 3

This week is the first week of winter. Now, here’s a comprehensive analysis of movement options of #USDX, EUR/USD, GBP/USD and USD/JPY (H4) for December 3, 2019 on the Minuette operational scale forks.
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The development of the #USDX (US dollar index) movement for December 3, 2019 will be determined by the development and direction of the breakdown of the 1/2 Median Line channel (98.25 – 98.15 – 98.07) of the Minuette operational scale forks. The details of the options for this movement is presented on the animated chart.
The breakdown of the lower boundary of the 1/2 Median Line Minuette channel (support level of 98.07) is the continuation of the downward movement of #USDX to the equilibrium zone (98.00 – 97.82 – 97.65) of the Minuette operational scale forks.
On the contrary, the breakdown of the resistance level of 98.25 on the upper boundary of the 1/2 Median Line channel of the Minuette operational scale forks will make it relevant to resume the upward movement of the dollar index to the equilibrium zone (98.47 – 98.82 – 99.15) of the Minute operational scale forks.
Details of the movement options of #USDX are presented on the animated chart.
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Crude Oil Prices Regain Ground After Last Friday's Sell-Off

Following the substantial decrease seen last Friday, the price of crude oil regained some ground during the trading day on Monday. Crude oil for February delivery climbed $0.79 or 1.4 percent to $55.96 a barrel after plummeting $2.94 or 5.1 percent to $55.17 a barrel in the previous session. The rebound by oil prices came amid reports 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. Oil prices also benefited from upbeat Chinese manufacturing data, which helped alleviate concerns about the impact of the ongoing U.S.-China trade dispute. Survey data from IHS Markit showed Chinese manufacturing activity expanded at a moderate pace in November, with growth reaching its strongest level since December 2016. The Caixin manufacturing Purchasing Managers’ Index rose slightly to 51.8 from 51.7 in October, signaling an improvement for the fourth consecutive month. However, buying interest was held in check by a separate report from the Institute for Supply Management showing a…

Treasuries Move Notably Lower Despite Disappointing U.S. Economic Data

Treasuries showed a notable move to the downside during trading on Monday, with traders shrugging off some disappointing U.S. economic data. Bond prices came under pressure early in the session and remained firmly negative throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 6 basis points to 1.836 percent. The initial weakness among treasuries came in reaction to upbeat Chinese manufacturing data, which helped alleviate concerns about the impact of the ongoing U.S.-China trade dispute. Survey data from IHS Markit showed Chinese manufacturing activity expanded at a moderate pace in November, with growth reaching its strongest level since December 2016. The Caixin manufacturing Purchasing Managers’ Index rose slightly to 51.8 from 51.7 in October, signaling an improvement for the fourth consecutive month. Treasuries regained some ground after a report from the Institute for Supply Management showed a continued contraction in U.S. manufacturing activity in the month of November, but buying interest remained subdued. The ISM said its purchasing managers index edged down to 48.1 in November from 48.3 in October, with a reading below 50 indicating a contraction in manufacturing activity. Economists had expected the index to inch up…