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EUR/USD testing resistance, potential drop!

Trading Recommendation
Entry: 1.10944Reason for Entry: 100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance
Take Profit : 1.09994Reason for Take Profit: Horizontal overlap support, 61.8% Fibonacci retracement, 78.6% Fibonacci extension
Stop Loss: 1.11419Reason for Stop loss:horizontal swing high resistance, 78.6% Fibonacci retracementThe material has been provided by InstaForex Company – www.instaforex.com…

Forecast for USD/JPY on December 5, 2019

USD/JPY
The information received yesterday from the headquarters of the US and Chinese negotiators on trade encouraged the markets – representatives of the parties allowed the conclusion of the first phase of the deal until December 15, before the date of the introduction of tariffs on Chinese goods. The US S&P 500 index gained 0.63%, Nikkei 225 is currently up 0.70% and China A50 grew 0.36%. The price turned from the achieved first bearish goal – from the enclosed line of the price channel, a little short of the MACD line. The signal line of the Marlin oscillator is still in the negative trend zone, growth could continue, but still within the correction.
The correction can continue to the range of 109.30/50 (highs of October 30 and November 7), going over the range will mean the correction will go into a trend growth, the target will be the line of the green price channel in the region of 109.95. Leaving prices at yesterday’s low opens the next bearish target at 107.57 – the intersection of the lines of the red and green price channels.
The material has been provided by InstaForex Company – www.instaforex.com…

*U.S. Crude Oil Inventories Plunge By 4.9 Million Barrels In Week Ended 11/29

U.S. Crude Oil Inventories Plunge By 4.9 Million Barrels In Week Ended 11/29 The material has been provided by InstaForex Company – www.instaforex.com…

*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…

German Vehicle Industry To Shed Jobs At Faster Rate In 2020: VDA

German vehicle manufacturers are likely to cut more jobs in 2020 after employment in the industry hit its highest in nearly three decades last year. The employment level remained stable at 835,300 during the first nine months of this year, but the increase in the figure recorded during the first half of the year melted away in recent months, President of the German Association of the Automotive Industry (VDA) Bernhard Mattes said in a statement on Wednesday. “Capacity utilization has declined, limited-term employment contracts are not being renewed, and the instrument of short-time work is being employed once again. We have to expect a decrease in the size of the core workforce,” Mattes said. VDA expect to see a decrease in the figures this year in comparison with the previous year’s figure of 834,000 employees. “A trend that will be more pronounced in 2020,” Mattes added. The group expects a decrease of 4.1 million, or 5 percent, in global passenger car sales, which is larger than that recorded during the financial crisis a decade ago. The slowdown in the Chinese market is largely to blame. The VDA expects the world market for passenger cars to hit a volume of 78.9…

Oil Prices Rally Before OPEC+ Meet

Oil prices rose sharply on Wednesday amid expectations that OPEC and its partners, including Russia, will extend their current production agreement by three months when they meet later this week. Bullish inventory data also helped to lift prices. Benchmark Brent crude climbed nearly 2 percent to $62.01 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were up 1.7 percent at $57.05. The OPEC countries and its allies are preparing to approve deeper crude output cuts this week, when they meet in Vienna, according to Iraq, the group’s second-biggest producer. Iraq oil minister Thamer Ghadhban told reporters on Tuesday that a deeper cut is being preferred by a number of key members when they meet on Thursday and then on Friday. Meanwhile, according to the industry group American Petroleum Institute (API), crude oil inventories in the U.S. fell by more than expected last week. Stockpiles of crude oil fell by 3.7 million barrels, more than double expectations of a decline of 1.7 million barrels. The material has been provided by InstaForex Company – www.instaforex.com…

NASDAQ_ideas for the session

Good afternoon,NASDAQ has dropped sharply in the recent 2 days from 8,400 levels. It found support in the 8,160 area, lows of early November, now is almost 150 ticks higher. While the yellow trendline, the steepest descending channel has been broken this morning, providing some technical relief, I would like to SELL close to 8,325 levels (red line) with stops around 8,345.The 1st target in the green line should be met somewhere around 8,270. Check out if it’s broken.Stay safeThe material has been provided by InstaForex Company – www.instaforex.com…

BTC 12.04.2019 – Watch for another down wave

Crypto news:Cryptocurrency data analytics firm, CoinMetrics, recently published the 28th issue of its weekly ‘State of the Network’ series, reporting changes in network data over the past week. According to CoinMetrics, mining revenue for both Bitcoin and Ethereum are down significantly for the second consecutive week, mostly due to the pronounced fall in prices over the same period.The report also showed that ETH fees dropped by 14.4% this week, compared to the 20% growth seen the week before, which CoinMetrics attributed to the launch of the Gods Unchained marketplace.The data also highlighted that Bitcoin’s market value to realized value (MVRV) ratio had started to increase over the past week, after dipping to a six month low of 1.23 last week. The report noted that as of 1 December, BTC MVRV was 1.32.Technical analysis:Bitcoin has been trading higher in the past 8hours. Anyway, BTC reached and rejected of the very important resistance at the price of $7.650, which his good sign that sellers are still in control. In my opinion BTC did re-test of the broken bear flag pattern. Watch for selling opportunities and downward targets at $7.079, $6.889 and $6.561. MACD oscillator is showing neutral stance and no expansion.Resistance levels are…

EUR/USD for December 04,2019 – First upward objective at the price of 1.10964 reached, potential for more upside

EUR did break our important multi-pivot resistance at 1.1094 and reached first upward target. There is potential for further upside and potential test of 1.1176 (second upward target). MACD oscillator is showing increase on the upside momentum, which is good sign that buyers are in control and that buying on the dips is preferable strategy for today. The cause of the upside move on the EUR may be the news from ECB this week combined with US-China potential trade deal.Support levels are seen at the price of 1.1094 (resistance became support) and 1.1066. Resistance level is set at 1.1176.The material has been provided by InstaForex Company – www.instaforex.com…

EUR/USD: plan for the US session on December 4. The euro held its position after good reports on the services sector

To open long positions on EURUSD, you need:In the first half of the day, we could observe the release of several reports on the services sector of the eurozone countries, which, as one, showed growth, which allowed buyers of the European currency to hold their positions above yesterday’s low, forming support of 1.1067. The eurozone composite PMI rose to 50.6 points in November this year. At the moment, the entire focus is shifted to data on the services sector in the United States. Weak reports will allow the bulls to re-test the resistance of 1.1092 and break above this maximum, which will strengthen the demand for EUR/USD and lead to an update of the levels of 1.1109 and 1.131, where I recommend taking the profits. With another unsuccessful attempt to grow above 1.1092, you can count on long positions after the correction from the support of 1.1067, provided that a false breakdown is formed or buy for a rebound immediately from the minimum of 1.1035.To open short positions on EURUSD, you need:Like yesterday, the bears will expect an unsuccessful consolidation above the resistance of 1.1092, which will be the first signal to open short positions in the euro, the purpose of…