Tag Archives: gold

*U.S. Non-Manufacturing Index Dips To 53.9 In November

U.S. Non-Manufacturing Index Dips To 53.9 In November The material has been provided by InstaForex Company – www.instaforex.com…

Pound Spikes Up As Polls Suggest Tory Victory

The pound appreciated against its major counterparts in early European deals on Wednesday, as latest opinion polls suggested the ruling Conservative party securing a majority at the upcoming general election on December 12. Survey by YouGov for The Times and Sky News showed Tuesday that Tories had maintained its nine-point lead over the opposition Labour Party. The poll showed that Tory lead has fallen one point to 42 percent, while Labour was also down one point at 33 percent. The survey was conducted between December 2-3. It came after a Kantar poll put a 12 point lead for the Tories, at 44 percent, as against 32 percent for Jeremy Corbyn’s party. Survey results from IHS Markit and Chartered Institute of Procurement & Supply showed that the UK service sector contracted the most in eight months in November but the pace of decline was slower than initially estimated. The final services Purchasing Managers’ Index fell to 49.3 in November from 50.0 in October. Although the reading was above the flash reading of 48.6, the index signaled the steepest drop since March. Sentiment improved as encouraging Chinese data helped investors shrug off concerns surrounding U.S.-China trade talks. A report showed that activity…

Gold 12.04.2019 – Watch for potential breakout of $1.484 to confirm further upside continuation

Gold is building pivots around Pitchfork ML and important resistance at $1.479. It is very common that after the price reach Pitchfork ML, we see multiply pivots to form around that ML. The breakout of the $1.484 will confirm further upside and potential test of $1.484,$1.500. Stochastic oscillator is showing overbought condition but at the same time I found that new high in reading, which confirms stronger money flow on the upside.Support levels are seen at the price of $1.472 and $1.466. Resistance levels are set at the price of $1.484, $1.494 and $1.503.The material has been provided by InstaForex Company – www.instaforex.com…

GBP/USD: plan for the US session on December 4. The services sector revived demand for the British pound, which went to update

To open long positions on GBPUSD, you need:The services sector has revived demand for the British pound, which went to renew highs before the important general election in the UK, which is scheduled for December 12 this year. The breakout of the large resistance of 1.3009, which I paid attention to in my morning forecast, led to the demolition of several stop orders of sellers and further supported GBP/USD. At the moment, after fixing above the next resistance of 1.3039, the bulls rushed to the maximum of 1.3074 and 1.3125, where I recommend taking the profits. With a downward correction in the second half of the day, which is unlikely to happen today, you can count on new purchases after a false breakout at a minimum of 1.3055.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 1.3125, 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 the level of 1.3167. Only good data on the services sector in…

*Italy Nov Composite PMI 49.6 Vs. 50.8 In Oct, Consensus 50.6

Italy Nov Composite PMI 49.6 Vs. 50.8 In Oct, Consensus 50.6 The material has been provided by InstaForex Company – www.instaforex.com…

EUR/USD. December 4. The euro took the lead in the confrontation with the dollar, but for how long?

EUR/USD – 4H.

On December 4, the EUR/USD pair performed an increase to the Fibo level of 50.0% (1.1080). However, this level did not become any strong barrier for the euro-dollar pair. At least, a pronounced rebound from it did not happen, but now the quotes can perform a reversal in favor of the US currency and resume the process of falling. It is difficult to say how long it will last and how strong it will be, as the pair closed over the downward trend corridor, indicating a desire to start an upward trend.
The information background can now be safely identified with only one figure on the world stage – with Donald Trump. The US president likes to be on the front pages of all periodicals, so he continues to distribute comments in which he criticizes half the world, not forgetting “his own garden” – the Fed and Jerome Powell. However, there is no shortage of Trump’s actions by US trade partners. The American president imposed duties against Argentina, Brazil, Turkey, China; he is preparing to impose duties on France, as well as automotive products from the European Union. Not to mention the expansion of the trade war with China, which…

Trading plan for EUR/USD for December 04, 2019

Technical outlook:EUR/USD is seen to be drifting sideways for last 2 trading sessions after breaking out higher last week and printing highs at 1.1094 levels. It is high probable for the euro bulls to push through 1.1110 and 1.1130 levels which are seen as short-term targets. The current wave structure is pointing towards a bullish EUR/USD in the near term, while a potential bottom seems to have been formed at 1.0981 last week. Until 1.0981 remains intact, bulls are expected to print higher highs and higher lows towards 1.1180, 1,1150 and above. Besides, note that 1.0980 is well supported by fibonacci 0.618 retracement of the previous rally along with the past resistance that turned into the support zone as marked here. On the flip side, if the price drops below 1.0981 lows, it is likely to find support at 1.0940, which is close to the fibonacci 0.786 support/retracement. To sum up, please be aware that prices may drop one last time below 1.0981 before turning bullish.Trading plan:Remain long against 1.0879, the target above 1.1500Good luck!The material has been provided by InstaForex Company – www.instaforex.com…

Analysis of EUR / USD and GBP / USD for December 4. China is racing for new duties from Donald Trump

EUR / USD
On December 3, the EUR/USD pair completed without a fundamental change in the exchange rate. Despite the fact that the current wave marking involves the completion of the construction of the downward correctional part of the trend and the construction of a new upward trend, there are still doubts before the successful attempt to break the maximum of wave b that markets will be able to bring this scenario to life. Nevertheless, it will be possible to speak more confidently about the prospects for the euro currency after the peak of wave b remains below. If the attempt to break through the peak of wave b is unsuccessful, then the instrument can proceed to construct a horizontal wave structure.
Fundamental component:
On Tuesday, the news background for the euro-dollar instrument was weak. There were a lot of news and economic reports on Monday, which caused quite strong purchases of the euro. However, on Tuesday, there are no news except Donald Trump’s new threats to impose duties on the entire world, in particular the countries of Europe and China. It is the topic of the trade war with China that keeps many economists awake, as the next…

Technical analysis recommendations for EUR/USD and GBP/USD on December 4

Economic calendar (Universal time)
In today’s economic calendar, you need to pay attention to the following events:
9:30 (UK) – data on indexes of business activity in the services sector;
13:15 (USA) – change in the number of people employed in the non-agricultural sector;
15:00 (USA) – Procurement Managers Index for the non-manufacturing sector;
15:30 (USA) – crude oil reserves.
EUR / USD
The strength of the resistance that was met yesterday (area 1.1082 daily Kijun + weekly Fibo Kijun + upper border of the daily cloud) managed to delay the further development of players to the upside. As a result, there has been inhibition, which can lead to the formation of rebound. In this case, support can be 1.1055-61 (weekly Tenkan + daily Fibo Kijun) and 1.1030-37 (lower boundary of the daily cloud + daily Tenkan). Now, breaking through the encountered resistance (1.1082) and the liquidation of the daily cross (1.1102), as noted earlier, will open the way to the most significant resistance of this area at 1.1145 (monthly Tenkan + weekly Kijun).
On the other hand, both key levels of low halves (1.1080 central pivot level + 1.1033 weekly long-term trend) are currently reinforced by important…

*Malaysia Oct Trade Surplus MYR 17.3 Bln, Consensus MYR 11 Bln

Malaysia Oct Trade Surplus MYR 17.3 Bln, Consensus MYR 11 Bln The material has been provided by InstaForex Company – www.instaforex.com…