Tag Archives: MT4

Elliott wave analysis of GBP/JPY for December 9 – 2019

GBP/JPY is consolidating before the next rally higher towards 143.25 and 144.55. Support at 141.70 will protect the downside for the next rally to 142.96 and 143.25 for the rally higher to 144.55. A break below 141.70 will be of concern, but only a break below support at 140.81 will indicate red wave v and black wave iii already has completed and a more prolonged correction in wave iv is developing. R3: 144.55R2: 143.87R1: 143.25Pivot: 142.77S1: 142.44S2: 142.16S3: 141.70Trading recommendation: We are long GBP from 140.12 with our stop placed at 141.55. We will take profit at 144.45 The material has been provided by InstaForex Company – www.instaforex.com…

Japan Has Y1,816.8 Billion Current Account Surplus

Japan had a current account surplus of 1,816.8 billion yen in October, the Ministry of Finance said on Monday – exceeding expectations for 1,806.8 billion yen and up from 1,612.9 billion in September. The trade balance reflected a surplus of 254.0 billion yen – also beating forecasts for 138.8 billion yen following the 1.1 billion yen surplus in the previous month. Imports were down 15.3 percent on year to 6,285.9 billion yen, while exports fell an annual 7.9 percent to 6,539.9 billion yen. The capital account posted a deficit of 45.4 billion yen, while the financial account saw a surplus of 879.9 billion yen. The adjusted current account surplus was 1,732.2 billion yen, beating forecasts for 1,731.1 billion yen and up from 1,485.2 billion yen a month earlier. The material has been provided by InstaForex Company – www.instaforex.com…

GBP/USD. Will the border between Ireland and Northern Ireland still appear?

Since it’s been about a week before the elections, the main election opponents Jeremy Corbyn and Boris Johnson continue to fight against each other despite the fact that all the main political forces of Great Britain have already played the main cards and Trump cards. In principle, it is clear to absolutely everyone that the main battle for the status of the “ruling party” will take place precisely between the Labor and Conservatives. Thus, the leaders of these parties continue to seek incriminating evidence against each other, blame each other and try to expose the rival party and its leader in the most unfavorable light possible. It can be recalled that not more than a week ago, Boris Johnson quite cynically used the tragedy on the London Bridge in the fight against the Labor Party, saying that it was the party of Corbyn that was to blame for it, which approved the law during its reign. According to which convicted of terrorist activities are entitled to early release. As a result, a terrorist who attacked civilians was released from prison ahead of schedule.
Now, it was the turn of the Labor leader himself, who allegedly published a secret document,…

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…

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. Consumer Sentiment Index Climbs To 99.2 In December

U.S. Consumer Sentiment Index Climbs To 99.2 In December The material has been provided by InstaForex Company – www.instaforex.com…

U.S. Employment Soars Amid Return Of Striking GM Workers

Job growth in the U.S. showed a substantial acceleration in the month of November, according to a closely watched report released by the Labor Department on Friday. 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 much stronger than expected job growth was partly due to a rebound in manufacturing employment, which climbed by 54,000 jobs in November after falling by 43,000 jobs in October amid the return of striking General Motors (GM) workers. The Labor Department also pointed to notable job gains in the healthcare and professional and technical services industries. 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. The unexpected decrease pulled the unemployment rate back down to the nearly 50-year low originally hit in September. The drop by the unemployment rate came as a muted 83,000-person rise in the household survey measure of employment outpaced an even weaker…

*Canadian Unemployment Rate Rose By 0.4 Percentage Points To 5.9% In November

Canadian Unemployment Rate Rose By 0.4 Percentage Points To 5.9% In November The material has been provided by InstaForex Company – www.instaforex.com…