Tag Archives: gold trading

Crude Oil Futures Settle Flat

Crude oil futures failed to hold early gains and settled near the flat line on Friday, as traders weighed demand and supply position in the oil market. While data showing that Chinese economy recorded its slowest expansion in almost thirty years, growing just 6.1% in the year 2019, raised concerns about the outlook for energy demand, the signing of the trade deal and buoyant economic data from the U.S. helped ease these concerns. West Texas Intermediate Crude oil futures ended at $58.54 a barrel, gaining 2 cents for the session. Oil futures rose to $58.98 a barrel earlier in the session. For the week, crude oil futures shed about 0.8%. Brent crude futures ended up $0.23 at $64.85 a barrel. On Thursday, the International Energy Agency said in its report that it expects supply from OPEC will exceed demand for its crude, despite compliance with output cuts. OPEC too has said supply from non-OPEC nations too far exceeds demand for crude. According to a report released by Baker Hughes, the number of active U.S. oil rigs increased by 14 to 673 this week. Oil rig count had declined in the previous three weeks. The material has been provided by…

How to Take Partial Profit in MT4 (Android) Forex Trading

https://www.7FigureBizOp.com/cainbrian?SOURCE=forextrainingbonus – Make sure to get access to my Free value FB group on Forex Trading. In this video, you’ll discover how to take a partial profit on the Android version of the MetaTrader 4 app. aka the MT4 mobile android app. Most people may not know how to close out partial profits in forex from one position.… Read More »

U.S. Industrial Production Dips Amid Slump In Heating Demand

With utilities output plummeting amid a slump in demand for heating, the Federal Reserve released a report on Friday showing a modest pullback in U.S. industrial production in the month of December. The Fed said industrial production fell by 0.3 percent in December after climbing by a downwardly revised 0.8 percent in November. Economists had expected industrial production to dip by 0.2 percent compared to the 1.1 percent jump originally reported for the previous month. The pullback in production came as utilities output plunged by 5.6 percent in December after surging up by 1.0 percent in November, with unseasonably warm weather leading to a large decrease in demand for heating. Meanwhile, the report said manufacturing output crept up by 0.2 percent in December after spiking by 1.0 percent in November, while mining output jumped by 1.3 percent following a 0.2 percent decrease. The Fed also said capacity utilization for the industrial sector slid to 77.0 percent in December after climbing to an upwardly revised 77.4 percent in November. Economists had expected capacity utilization to slip to 77.1 percent from the 77.3 percent originally reported for the previous month. Capacity utilization in the utilities sector led the way lower, tumbling…

Dollar Rises Vs Most Majors Ahead Of U.S. Industrial Production

Fed’s Industrial production for December will be published at 9.15 am ET Tuesday. Ahead of the data, the greenback traded mixed against its major counterparts. While the greenback held steady against the pound, it rose against the rest of major counterparts. The greenback was worth 110.20 against the yen, 1.1100 against the euro, 1.3044 against the pound and 0.9685 against the franc at 9:10 am ET. The material has been provided by InstaForex Company – www.instaforex.com…

Dollar Stronger On Upbeat U.S., China Economic Data

The U.S. dollar drifted higher against its most major trading partners in the European session on Friday, as solid economic data from China and the U.S. eased concerns about global growth. Official data showed that the Chinese economy expanded in line with expectations in the fourth quarter. Gross domestic product grew 6.0 percent year-on-year in the fourth quarter, the same rate as seen in the third quarter and in line with expectations. Chinese industrial production and retail sales beat forecasts in December, rising 6.9 percent and 8.0 percent, respectively year-on-year. Overnight data showed that U.S. retail sales rose 0.3 percent in December, in line with forecasts. Separate reports showed that weekly jobless claims unexpectedly fell in the week ended January 11 and NAHB housing market index came in near a 20-year high in January. The data reduced the possibility of further interest rate cuts from the Federal Reserve. Investors await U.S. industrial production, consumer confidence index, building permits and housing starts data due in the American session for more direction. The currency traded mixed against its major counterparts in the Asian session. While it rose against the yen and the franc, it held steady against the euro. Versus the pound,…

Eurozone Construction Output Recovers In November

Eurozone construction output recovered in November, Eurostat reported Friday. Construction output increased 0.7 percent on a monthly basis, in contrast to a 0.5 percent fall in October. The recovery was driven by a 1.1 percent rise in building construction and a 0.3 percent rise in civil engineering. On a yearly basis, construction output growth accelerated to 1.4 percent from 0.9 percent a month ago. In the EU28, construction output increased 1.1 percent on month, taking the annual growth to 1.4 percent. The material has been provided by InstaForex Company – www.instaforex.com…

January 17, 2020 : EUR/USD Intraday technical analysis and trade recommendations.

Since November 14, the price levels around 1.1000 has stood as a significant DEMAND-Level offering adequate bullish SUPPORT for the pair on two successive occasions.During this Period, the EUR/USD pair has been trapped within a narrow consolidation range between the price levels of 1.1000 and 1.1085-1.1100 (where a cluster of supply levels and a Triple-Top pattern were located) until December 11.On December 11, another bullish swing was initiated around 1.1040 allowing recent bullish breakout above 1.1110 to pursue towards 1.1175 within the depicted short-term bullish channel.Initial Intraday bearish rejection was expected around the price levels of (1.1175).Moreover, On December 20, bearish breakout of the depicted short-term channel was executed. Thus, further bearish decline was demonstrated towards 1.1065 where significant bullish recovery has originated.The recent bullish pullback towards 1.1235 (Previous Key-zone) was suggested to be watched for bearish rejection and another valid SELL entry.Suggested bearish position has achieved its targets while approaching the price levels around 1.1110.As expected, the Key-Level around 1.1110 has provided some bullish rejection. That’s why, the previous bullish pullback was expected to pursue towards 1.1140 and 1.1175 where the depicted key-zone as well as the recently-broken uptrend are located.Recent signs of bearish rejection were demonstrated around 1.1175. That’s…

GBP/USD 01.17.2020 – Broken bearish flag on the daily time-frrame, watch for selling on rallies with main target at 1.2960

GBP has been trading downwards. The price tested and rejected of the level of 1.3120. I see further downside on the GBP and potential re-test of 1.2960 and 1.2910. The rejection of the Bollinger middle line is the early trigger for the downside. I also found potential for bearish outside candle. My advice is to watch for selling opportunities on the rallies using the hourly/4H time-frame.MACD oscillator is showing bearish stance and reading below the zeroMajor resistance is set at the price of 1.3120.Support levels and downward targets are set at the price of 1.2960 and 1.2910.The material has been provided by InstaForex Company – www.instaforex.com…

EUR/USD. January 17. Overbought euro still caused a fall

EUR/USD – 4H.

As seen on the 4-hour chart, the EUR/USD pair performed a reversal in favor of the US currency and resumed the process of falling in the direction of the low level of 1.1086. A new downward trend corridor has been formed, which now points to the “bearish” mood of most traders. The reversal of quotes in favor of the US dollar occurred with some delay, I was waiting for it 1-2 days earlier. However, in this case, it turned out not so bad, and now I expect a fall to the lower line of the corridor – 1.1040 (approximate goal). A bearish divergence was also formed for the MACD indicator, which also worked in favor of the US currency. The report on inflation in the European Union was not weaker than forecasts, but not stronger than them. Inflation was 1.3% y/y in December, which remains far from the ECB’s target level, which is now 2.0% but can be lowered in the future. Now the main thing is that the information background from America does not scare off bear traders from the plan. In the US, the consumer confidence index and the level of industrial production will be released today.
Forecast…

Pound Strengthens Ahead Of U.K. Retail Sales Data

At 4.30 am ET Friday, the Office for National Statistics releases UK retail sales data. Sales are forecast to grow 0.6 percent on month in December, reversing a 0.6 percent fall in November. Ahead of the data, the pound climbed against its major rivals. The pound was worth 1.3099 against the greenback, 144.32 against the yen, 1.2643 against the franc and 0.8498 against the euro as of 4:25 am ET. The material has been provided by InstaForex Company – www.instaforex.com…