Tag Archives: trade copper

*Nigeria Dec CPI +0.85% On Month Vs. 1.02% In November

Nigeria Dec CPI +0.85% On Month Vs. 1.02% In November The material has been provided by InstaForex Company – www.instaforex.com…

Trading recommendations for GBP/USD – prospects for further movement

From the point of view of a comprehensive analysis, we see a continuing upward interest from the area of the psychological level of 1.3000, where the quotes had previously found a foothold. In fact, we continue to observe the development of the theory of the Zigzag-shaped model [03.12.19-14.01.20], where the subsequent measure almost reached the control value. The most remarkable situation is that for several weeks there has been a gradual compression of the quote amplitude, which is just expressed in the Zigzag-shaped model. That is, the first correction phase of the Zigzag-shaped model had a value of 609 points, the second phase was already 329 points. The third phase has not yet arrived, since the pulse cycle has not yet been completed, but the deceleration is already evident. Hence, many traders agree that the market is preparing a platform to greatly accelerate quotes, which may come in the near future.
In terms of volatility, we have a kind of confirmation of the previously spoken words, that is, there is a slowdown in average daily indicators [95; 79; 57.57 points] from the beginning of the week. From the point of view of the emotional component, we see a similar picture,…

Is Euro playing cat and mouse with the dollar?

At the end of the week, the European currency cheered up, after a worthy competition with the dollar. Its classic rival for the EUR / USD pair is also on the alert, strengthening against the backdrop of the relatively successful signing of the first phase deal. Experts expect to achieve a balance in tandem, and these hopes can be justified.
According to experts, the euro tried to capitalize on the signing of an agreement between Washington and Beijing, but these actions are more reminiscent of stealth maneuvers, like a cat and mouse game. However, analysts warn that it is better not to play such games with the dollar.
Recall that on Wednesday, January 15, the leaders of the two leading powers signed a document on the first phase of the trade deal. The negotiation process associated with it lasted more than six months. According to experts, this event did not provide significant support to the greenback. The pound, on the other hand, took advantage of this and tried to break out into the leaders in the EUR/USD pair and thus teasing his rival.
According to the agreement, within two years, the Celestial Empire pledged to import a number of…

*Japan Nov Tertiary Industry Activity Yp 1.3% On Month

Japan Nov Tertiary Industry Activity Yp 1.3% On Month The material has been provided by InstaForex Company – www.instaforex.com…

Technical analysis of ETH/USD for 17/01/2020:

Crypto Industry News:In the announcement published on the Japanese support site Binance, the stock exchange revealed that it would limit access to the stock exchange for the inhabitants of Japan on an indefinite date. The announcement states that the restriction is being implemented gradually and the details will be disclosed later.There are currently no restrictions and Japanese users can use the exchange normally.Binance was based in Japan as soon as he left China. As previously reported, the stock exchange has moved to Malta following an official warning from Japanese regulators due to the lack of a national license to operate the stock exchange.Since then, several headquarters have registered with the regulatory authority. Huobi, a rival of Binance, obtained a license in January 2019, and the BitBox exchange of the Japanese corporation LINE secured it in September.It is possible that Binance has encountered similar regulatory difficulties despite not being in this country. The Kraken crypto exchange ceased to provide services to Japanese residents in April 2018, citing the rising costs of doing business – potentially due to the requirement to obtain a license.Technical Market Overview:The ETH/USD bulls keep consolidating just under the recent swing high at the level of $170.72 and it…

Elliott wave analysis of GBP/JPY for January 17 – 2020

GBP/JPY broke above key resistance at 143.50 indicating that a premature bottom has been found at 140.82 and renewed upside pressure should be expected towards 149.00 as the minimum target for wave v. This rally should complete the first impulsive rally from the August 2019 low at 126.52 and pave the way for the largest correction in this uptrend. The first target to look for is the bottom of wave iv at 140.82, but an even larger correction can not be excluded, but for now, we will stay focused towards the upside for a rally towards at least 149.00. R3: 145.75R2: 145.43R1: 145.04Pivot: 144.23S1: 143.90S2: 143.50S3: 143.20Trading recommendation: Our stop at 143.50 was hit for a 45 pip loss. We bought GBP at 143.60 and have placed our stop at 143.20. The material has been provided by InstaForex Company – www.instaforex.com…

Forecast for EUR/USD on January 17, 2020

EUR/USD
US retail sales turned out to be good in December. Total sales added the expected 0.3%, and the November figure was revised to increase from 0.2% to 0.3%. The base index (excluding car sales) increased by 0.7% while expecting 0.5%. The index of business activity in the manufacturing sector of Philadelphia increased from 0.3 to 17.0 points in January and weekly applications for unemployment benefits showed 204 thousand – the lowest since September. As a result, the euro closed the day down by 13 points.
Reversal signs have not yet formed on the daily chart, the signal line of the Marlin oscillator lingered on the boundary with the territory of the bears. We are still waiting for the strengthening of down moods. US data will be released today on housing starts for December (forecast 1.38 million YOY versus 1.37 million YOY in November) and on industrial production, the forecast for which is not so optimistic: -0.2/0.0% versus 1.1% in November. But during the week, business activity indices in the regions of New York and Philadelphia turned out to be better than forecasts, which provides a chance for the December industrial output to be better than expected. We are…

New Zealand Manufacturing PMI Slips Into Contraction

The manufacturing sector in New Zealand fell into contraction ion December, the latest survey from BuzinessNZ showed on Friday with a PMI score of 49.3. That’s down from the downwardly revised 51.2 reading in November (originally 51.4) and it slips beneath the boom-or-bust line of 50 that separates expansion from contraction. This was a second consecutive decrease in activity, and the lowest result since September. Among the individual components, production and employment continued to contract, while new orders and deliveries remained in expansion but at a slower pace. Only finished stocks picked up steam. “The December result was disappointing,” BNZ Senior Economist, Craig Ebert said. “After a couple of months flirting with positivity, the PMI dipped back just below the breakeven line again.” The material has been provided by InstaForex Company – www.instaforex.com…

Chinese Data Due On Friday

China is scheduled to release a batch of data on Friday, headlining a busy day for Asia-Pacific economic activity. On tap are Q4 numbers for gross domestic product, as well as December figures for industrial production, retail sales, fixed asset investment and unemployment. GDP is forecast to have risen 1.4 percent on quarter and 6.0 percent on year after gaining 1.5 percent on quarter and 6.0 percent on year in the three months prior. Industrial production is tipped to add 5.9 percent on year, slowing from 6.2 percent in November. Retail sales are called higher by an annual 7.9 percent, easing from 8.0 percent in the previous month. Fixed asset investment is called steady at 5.2 percent, while the jobless rate is called unchanged at 5.1 percent. Japan will see November numbers for its tertiary industry index, with forecasts suggesting an increase of 1.0 percent on month after sliding 4.6 percent in October. Singapore will provide December data for imports, exports and trade balance. In November, imports were worth SGD42.49 billion and exports were at SGD45.76 billion for a trade surplus of SGD3.27 billion. The material has been provided by InstaForex Company – www.instaforex.com…