Tag Archives: most popular currency pairs

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…

Dollar Rises On Strong Jobs Data

After exhibiting some weakness early on in the day, the U.S. dollar moved higher on Friday, riding on strong U.S. monthly jobs data and amid optimism the U.S. and China will agree on a phase one trade deal before the next hike in tariffs on Chinese imports come into effect later this month. The dollar index, which eased to 97.36 at the start, rallied to 97.84 by mid morning, and was later seen at 97.70, up nearly 0.3% from previous close. Against the euro, the dollar strengthened to 1.1061, gaining about 0.4%, from previous close of $1.1103. Against pound sterling, the dollar recovered to 1.3133 from a low of 1.3167. The Japanese yen strengthened against the dollar, rising to 108.56 a dollar, after having weakened to 108.91 yen a dollar in early trades. The dollar was down slightly against the Aussie with the AUD-USD pair trading at 0.6841. Against Swiss franc, the dollar rose to 09899, up 0.27% from previous close, while against the Loonie, it rose to 1.3257, adding more than 0.6%. In Canadian economic news, data from Statistics Canada said the Canadian economy lost 71,200 jobs in November of 2019 after shedding 1,800 jobs in the previous month….

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…

Gold Settles Lower As Riskier Assets Rise On Trade Hopes, Jobs Data

Gold prices drifted lower on Friday as traders went for riskier assets such as equities thanks to upbeat U.S. monthly jobs data and rising optimism about a phase one U.S.-China trade deal. The dollar’s strong uptick contributed as well to the yellow metal’s decline. The dollar index rose to 97.84 and was last seen hovering around 97.70, up more than 0.3% from previous close. Gold futures for February ended down $18.00, or about 1.2%, at $1,465.10 an ounce. On Thursday, gold futures for February ended up $2.90, or 0.2%, at $1,483.10 an ounce. Gold futures shed about 0.5% in the week. Silver futures for March ended down $0.463 at $16.596 an ounce, while Copper futures for March settled at $2.7250 per pound, up $0.0620 from previous close. In trade news, China said it would waive import tariffs for some soybeans and pork shipments from the United States. The tariff waivers were based on applications by individual firms for U.S. soybeans and pork imports, the finance ministry said in a statement, but didn’t not specify the quantities involved. The waiver of 25% tariffs comes two weeks before a critical decision on the fate of the December 15 tariff increases. On…

*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…

BTC 12.06.2019 – Contraction period, watch for the breakout of the trading range to confirm further direciton

Bitcoin is trading sideways at the price of $7.390. Price action on the hourly time-frame looks very flat and we got Bollinger bands contraction. Watch for potential breakout of the contraction. The resistance is set at $7.478 and the support at $7.253.To open long position:Watch for breakout of $7.478 and target at $7.722To open short position:Watch for breakout of the support $7.253 and target at $7.087 MACD oscillator is showing very low momentum , which confirms the sideways regime.The material has been provided by InstaForex Company – www.instaforex.com…

Gold 12.06.2019 – Gold is near multi-pivot supporrt at $1.57, more downside yet to come

Gold has been trading downside after the NFP news today. In my opinion, it confirmed another down cycle and eventual test of $1.452 and $1.446. My advice is to watch for selling opportunities on the rallies on lower frames (5-15 time-frames). MACD oscillator is showing increase on the downside momentum, which is good sign that sellers are in control and that selling on the rallies is preferable strategy for today.Resistance levels are seen at $1.471 and $1.480. Support levels are set at $1.452 and $1.446The material has been provided by InstaForex Company – www.instaforex.com…

Euro Little Changed After German Industrial Output

At 2.00 am ET Friday, Destatis has published Germany’s industrial output data for October. The euro changed little against its major rivals after the data. The euro was trading at 0.8436 against the pound, 120.68 against the yen, 1.0970 against the franc and 1.1104 against the greenback around 2:03 am ET. The material has been provided by InstaForex Company – www.instaforex.com…

Trader’s Diary: EURUSD on 12/06/2019, US Employment Report

News: A German industry report showed a new drop in the output of -1.7% for October, due to this, analysts expect growth. Nonetheless, this did not weaken the mood of euro buyers for growth, as you can see in the chart above and this also means a good signal for the bulls.The official report on US employment on the nonfarm payrolls for the month of November will be released at 13:30 today. Experts predict a good report of 180K and this is somewhat surprising since just two days ago a private report from ADP showed the growth in the number of jobs is very low with only about 67K by as much as 100K less than the forecast. Which gives us all the more reason to see the news.In the old times of the “early history of the euro”, the EURUSD rate, for the nonfarm, went rapidly from 100 points up to a 4-digit in just 1-2 hours after the release of the data, where a large number of traders made good money on these movements.At one point, that fed up with then-legendary Fed head Alan Greenspan where he said “This indicator is overvalued by the market” and the movements became…