Higher linear regression channel: direction – downward.
Lower linear regression channel: direction – downward.
Moving average (20; smoothed) – sideways.
The fourth trading day of the week begins with the continuation of the downward movement, which was initially identified as a correction. However, at the moment, the quotes of the EUR/USD pair are fixed below the moving average line, so the trend is changed to a downward one. The same can be said for the Ichimoku indicator system, where the price overcame the Kijun-sen line. Thus, now the movement can continue with the goal of the Murray level of “1/8”-1.0864 or lower. However, we already warned in yesterday’s article that the current downward movement may be nothing more than a “correction against a correction”. Thus, according to all the canons of the size of the corrective movement, it can end in the area of 1.0833-1.0893. If this hypothesis is correct, then the downward movement will not continue for long. Moreover, the movement to the south means the growth of the US currency. Yesterday, macroeconomic statistics supported the dollar. However, in addition to statistics, there is now a much more important “epidemic factor” in the world. And, according to the latest information,…
South Korea will on Thursday release March numbers for consumer prices, highlighting a modest day for Asia-Pacific economic activity. In February, overall inflation was flat on month and up 1.1 percent on year, while core CPI added 0.1 percent on month and gained 0.5 percent on year. Japan will provide March figures for monetary base; in February, the monetary base climbed 3.6 percent on year. Australia will see February figures for job vacancies; in January, vacancies were up 1.6 percent on month. The material has been provided by InstaForex Company – www.instaforex.com…
Who will reign? The US dollar or noble metals? Here’s a comprehensive analysis of options for the movement of #USDX vs Gold & Silver (DAILY) in April 2020
Minor operational scale (daily time frame)
US dollar index
The movement of the #USDX dollar index in April 2020 will be determined depending on the development and the direction of breakdown of the boundaries of the equilibrium zone (98.80 – 99.90 – 101.10) of the Minor operational scale forks. We look at the details of movement inside this equilibrium zone on the animated chart.
The upward movement of the dollar index can be continued in case of breakdown of the resistance level of 101.10 on the upper boundary of the ISL61.8 equilibrium zone of the forks of the operational Minor scale and the targets of this movement will be :
– the final Shiff Line Minor (101.80);
– maximum 102.99;
with the prospect of reaching the warning line UWL38.2 (103.50) of the Minuette operational scale forks.
Meanwhile, the downward movement of #USDX will become relevant in the event of a breakdown of the support level 98.80 at the lower boundary of the ISL38.2 equilibrium zone of the Minuette operational scale forks…
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A report released by the Commerce Department on Wednesday showed an unexpected decrease in U.S. construction spending in the month of February. The Commerce Department said construction spending slumped by 1.3 percent to an annual rate of $1.367 trillion in February after spiking by 2.8 percent to an upwardly revised rate of $1.385 trillion in January. The pullback came as a surprise to economists, who had expected construction spending to climb by 0.6 percent following the 1.8 percent jump originally reported for the previous month. The unexpected drop in construction spending reflected notable decreases in spending on both private and public construction. Spending on private construction tumbled by 1.2 percent to an annual rate of $1.026 trillion, as spending on residential construction slid by 0.6 percent and spending on non-residential construction plummeted by 2.0 percent. The report said spending on public construction also plunged by 1.5 percent to an annual rate of $340.9 billion, with spending on educational and highway construction both showing significant drops. Despite the monthly decrease, the Commerce Department said total construction spending in February was up by 6.0 percent compared to the same month a year ago. The material has been provided by InstaForex Company -…