Tag Archives: NZD

Indicator analysis: Daily review on December 4, 2019, on GBP / USD currency pair

Trend analysis (Fig. 1).On Wednesday, the price may begin to roll back down with the first target 1.2977, the support line presented in a red bold line. If this level is broken, the continuation of the downward movement to the retreating level of 23.6% is equivalent to 1.2954, presented in a red dashed line. But there is a high probability that the price will go up from the level of 1.2977.Fig. 1 (daily chart).Comprehensive analysis:- Indicator analysis – down;- Fibonacci levels – down;- Volumes – down;- Candlestick analysis – down;- Trend analysis – up;- Bollinger Lines – up;- Weekly schedule – up.General conclusion:On Wednesday, the price may begin to roll back down with the first target 1.2977, the support line presented in a red bold line. If this level is broken, the continuation of the downward movement to the retreating level of 23.6% is equivalent to 1.2954, presented in a red dashed line. But there is a high probability that the price will go up from the level of 1.2977.The material has been provided by InstaForex Company – www.instaforex.com…

AUD/USD approaching support, potential bounce!

Trading RecommendationEntry: 0.6831Reason for Entry: 127% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap supportTake Profit : 0.68615Reason for Take Profit: horizontal overlap resistance61.8% Fibonacci retracementStop Loss: 0.6886Reason for Stop loss:horizontal overlap resistance76.4% Fibonacci retracementThe material has been provided by InstaForex Company – www.instaforex.com…

EUR/USD. December 3. Results of the day. Donald Trump continues to bluff in negotiations over a deal with Beijing

4-hour timeframe
Amplitude of the last 5 days (high-low): 19p – 33p – 20p – 47p – 87p.
Average volatility over the past 5 days: 41p (low).
The EUR/USD currency pair, which made an impressive growth on the first trading day of the week, completed it as expected on Tuesday, December 3, and the pair’s volatility again fell to its lowest values. Thus, as we have already said in the morning review, there are no special reasons for bulls to continue buying the euro, whether there were any or not. Yesterday, the upward momentum of the euro/dollar pair, from our point of view, was a mere coincidence of a whole group of factors that pushed the euro currency up. So? And then traders again refuse to buy the euro due to the fact that the European fundamental background remains extremely weak. Yes, business activity in industry showed some signs of recovery, as did inflation, which grew to 1.0% YOY. However, a recession is still observed in the production sector, not weak growth rates, and inflation is at extremely weak values that do not allow us to talk about the recovery of the EU economy. Thus, we believe that several…

Oil kings can do everything?

Oil is slowly recovering from a major sell-off on the last day of autumn. Taking advantage of the thin market after Thanksgiving, speculators decided to get rid of their long positions ahead of the December OPEC+ meeting. The simplest thing that the cartel and Russia can do is to prolong the agreement to reduce production by several months after March 2020. However, how will the market react to this? Isn’t it better to avoid a massive sell-off before the results of the meeting are known?
If speculators sold oil at the November 29 auction, before that, on the contrary, they were actively building up long positions. By the end of the week, November 26, WTI net-longs increased by 15%, gross longs increased by 12%, while shorts fell by 14%. Approximately the same numbers could be seen on Brent.
Brent Speculative Dynamics
It is peculiar that black gold was not moving in unison with US stocks at the turn of autumn and winter. The latter were marked by a serious collapse after the White House introduced duties on imports of steel and aluminum from Brazil and Argentina, while oil grew in response to rumors of Saudi Arabia’s desire to expand…

*Little Improvement In Education Levels Despite Increased Spending: OECD Survey

Little Improvement In Education Levels Despite Increased Spending: OECD Survey The material has been provided by InstaForex Company – www.instaforex.com…

Brazil Economic Growth Improves In Q3

Brazil’s economy expanded at a faster pace in the third quarter, data from the statistical office IBGE showed on Tuesday. Gross domestic product grew 1.2 percent on a yearly basis, after rising 1 percent in the second quarter. The accumulated GDP for the last four quarters also grew 1 percent, after rising 1.1 percent a quarter ago. Quarter-on-quarter, economic growth improved to 0.6 percent from 0.5 percent. The growth was driven by a 1.3 percent rise in agriculture, 0.8 percent rise in industry and 0.4 percent expansion in services. The material has been provided by InstaForex Company – www.instaforex.com…

EURUSD is consolidating

After a strong day yesterday where price broke above short-term resistance of 1.1030 and topped around 1.1090, EURUSD is now consolidating near its highs. This consolidation can also be seen as a bullish flag pattern. So more upside should be expected.Red rectangle – resistanceEURUSD has made no real progress today. Price is right below important horizontal and Fibonacci resistance at 1.11. Support remains at 1.1030 and a pull back below this level would be a bearish sign. Short-term trend remains bullish. If bulls manage to recapture 1.11 then we could see another leg higher towards 1.12. Failure to hold above 1,10 will lead to price falling towards 1.09 and lower.The material has been provided by InstaForex Company – www.instaforex.com…

Gold reaches second upside target of $1,480.

Gold price has reached $1,480 which was our target since we saw that the key support at $1,450-60 was respected. We noted on time the bullish divergence before the first leg up towards $1,478 and since respecting the recent lows we warned again of another leg higher towards $1,480-90.Green lines – bearish channel Red line – RSI resistanceOrange rectangle – targetGold price is moving higher today towards the upper channel boundary and major Fibonacci resistance at $1,490. From the end of last week and early this week we noted that we changed our view to short-term bullish and that the risk reward favored bullish positions. Now Gold is approaching important resistance area. If bulls manage to recapture $1,490-$1,500 then we could see Gold price move much higher. Until then we need to keep a close eye on the resistance as a rejection at $1,490-$1,500 would be a bearish sign.The material has been provided by InstaForex Company – www.instaforex.com…