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Japan GDP Revised To 1.8% In Q3

Japan’s gross domestic product was bumped all the way up to a seasonally adjusted annualized 1.6 percent in the third quarter of 2019, the Cabinet Office said in Monday’s revision. That was a sharp upward move from the 0.2 percent gain originally reported last month for Q3. On a seasonally adjusted quarterly basis, GDP was moved up to 0.4 percent from 0.1 percent in the preliminary reading. Nominal GDP was knocked up to 0.6 percent on quarter from 0.3 percent, while the GDP deflator was unrevised at 0.6 percent. The material has been provided by InstaForex Company – www.instaforex.com…

Oil: long-term forecast

Oil – CLFrom April 2011 to August 2014, the price of oil (WTI) formed an extended triangular graphic formation. In August 2014, the price went down from the triangle and plummeted until January 2016, reaching 26.14.The oil drop at the exit from the triangle that lasted for 75 weeks, exactly to the time point where the lines forming the triangle converge. From a minimum of 26.14, a new life cycle of the growth-decline market began. Our task is to determine the completion of a new market cycle.Now we see that the price has again formed a triangle, but this time it is smaller. The exit of the price from the triangle downward can provoke a 16-week fall before the end of March next year since the price in the second phase of the market’s life cycle is in decline.The upper generatrix of the large triangle, with its parallel downward movement to the minimum of February 2009, exactly coincides with the minimum of January 2016. The parallel line from the generatrix of the small triangle exactly coincides at the point with its time peak and the line of the price channel of red color. At the point of convergence of the lines,…

EUR/USD reacting below resistance, potential drop!

Trading RecommendationEntry: 1.10660Reason for Entry: 38.2% Fibonacci RetracementTake Profit : 1.10280Reason for Take Profit: 61.8% Fibonacci retracementStop Loss: 1.11090Reason for Stop loss:horizontal swing high resistanceThe material has been provided by InstaForex Company – www.instaforex.com…

Forecast for EUR/USD on December 9, 2019

EUR / USD
On Friday, the price returned to the Fibonacci level of 123.6% and under the embedded line of the declining blue price channel, due to excellent data on US employment. At the same time, the breakdown of support occurred exactly at the intersection of these two lines, which is a sign of strong movement, with prospects for further development. The signal line of the Marlin oscillator, in turn, returned to the downward trend zone.
The first target of the movement will be the Fibonacci level of 138.2% at the price of 1.0985. After that, breaking through this support from which the price turned up on November 29 and 14, will open lower targets: 1.0925 (lows of September 12 and 3) and 1.0895. As it moves further, the price will have to fight with the Fibonacci level of 161.8% at the price of 1.0845 and go down to the lower line of the blue price channel in the region of 1.0710.
On the four-hour chart, the price has consolidated below the MACD line; the Marlin oscillator is completely in a downward trend.
The material has been provided by InstaForex Company – www.instaforex.com…

Short-term Elliott wave analysis on EURUSD

EURUSD is in a corrective phase. Price was expected to move higher as wave B and turn lower towards the 61.8% Fibonacci retracement and wave C. Price did exactly that and now it is important for the bullish scenario to see price reverse to the upside.EURUSD has made a three wave correction this far towards the 61.8% Fibonacci retracement as expected. Now for this bullish wave scenario to be valid, we need to see price reverse to the upside. Another 5 wave upward move is expected to unfold from current levels. Support is at 1.1030 and this scenario will lose its strength if this level is broken downwards. On the contrary, this bullish scenario will increase its chances of success if price breaks above the B wave high. The price action of this week will tell us more of what to expect for EURUSD….1.13 or 1.09?The material has been provided by InstaForex Company – www.instaforex.com…

Treasuries Move Notably Lower On Better Than Expected Jobs Data

Extending the downward move seen over the two previous sessions, treasuries moved notably lower during trading on Friday. Bond prices came under pressure early in the session and remained firmly negative throughout the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 4.5 basis points to 1.842 percent. The continued weakness among treasuries came following the release of a closely watched Labor Department report showing much stronger than expected U.S. job growth in the month of November. The report said non-farm payroll employment surged up by 266,000 jobs in November after climbing by an upwardly revised 156,000 jobs in October. Economists had expected an increase of about 180,000 jobs compared to the addition of 128,000 jobs originally reported for the previous month. The Labor Department said notable job gains occurred in healthcare and in professional and technical services, while manufacturing employment also rose as General Motors (GM) workers returned from a strike. With the stronger than expected job growth, the unemployment rate edged down to 3.5 percent in November from 3.6 percent in October. The unemployment rate was expected to remain unchanged. A separate report released by the University of Michigan showed a…

U.S. Consumer Credit Jumps More Than Expected In October

Consumer credit in the U.S. increased by more than anticipated in the month of October, according to a report released by the Federal Reserve on Friday. The Fed said consumer credit surged up by $18.9 billion in October after climbing by $9.6 billion in September. Economists had expected consumer credit to increase by $16.0 billion. Revolving credit, which largely reflects credit card debt, rose by $7.9 billion in October after edging down by $0.2 billion in September. The report said non-revolving credit, such as student loans and car loans, also jumped by $11.0 billion in October after increasing by $9.4 billion in the previous month. Total consumer credit was up by 5.5 percent compared to the same month a year ago, as revolving credit spiked by 8.8 percent and non-revolving credit surged up by 4.3 percent. The material has been provided by InstaForex Company – www.instaforex.com…

U.S. Consumer Sentiment Climbs To Seven-Month High In December

Preliminary data released by the University of Michigan on Friday showed a much bigger than expected improvement in U.S. consumer sentiment in the month of December. The report said the consumer sentiment index climbed to 99.2 in December from the final November reading of 96.8. Economists had expected the index to inch up to 97.0. With the much bigger than expected increase, the consumer sentiment index reached its highest level since hitting 100.0 in May. The current economic index jumped to 115.2 in December from 111.6 in November, while the index of consumer expectations rose to 88.9 from 87.3. Surveys of Consumers chief economist Richard Curtin said nearly all of the improvement in consumer sentiment in December was among upper income households, who reported near record gains in household wealth due to record high stock prices. “Indeed, among households with incomes in the top third of the distribution, their overall assessment of their current finances was the third highest in the past twenty years,” Curtin said. He added, “These gains were aided by declining inflation expectations, with long term inflation expectations returning to an all-time low.” The report said one-year inflation expectations edged down to 2.4 percent in December from…

Surge In U.S. Non-farm Payrolls Lifts Dollar

The U.S. dollar was notably higher against its major trading partners in the European session on Friday, as the economy created much more jobs than forecast in the month of November, supporting hopes for the Federal Reserve to keep policy unchanged when it meets next week. Data from the Labor Department showed that U.S. job growth was in a substantial acceleration in November. The report said non-farm payroll employment surged by 266,000 jobs in November after climbing by an upwardly revised 156,000 jobs in October. Economists had expected an increase of about 180,000 jobs compared to the addition of 128,000 jobs originally reported for the previous month. The unemployment rate edged down to 3.5 percent in November from 3.6 percent in October. The unemployment rate was expected to remain unchanged. The Federal Reserve’s final rate setting meeting of the year is due next week. The Central Bank is expected to keep rates on hold at 1.50-1.75 percent. Investors focused on developments in China-U.S. trade front after President Donald Trump commented that the talks were “moving right along.” Trump’s remarks came after Beijing asserted that some U.S. tariffs should be rolled back as part of an interim deal. U.S. Treasury Secretary…

*U.S. Dollar Rallies To 108.92 Against Yen After Jobs Data

U.S. Dollar Rallies To 108.92 Against Yen After Jobs Data The material has been provided by InstaForex Company – www.instaforex.com…