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Trading plan on EUR/USD for February 20, 2020

Update on the coronavirus epidemic: the total number of cases is 74.5 thousand, while the total death count is 2,118.The number of cases increased by 400, the lowest since January 25, which is a good signal, as it indicates that the epidemic is obviously stopping.EUR/USD: Strong US data supported the dollar. Earlier this week, the data on net capital inflows/outflows was released – it amounted to $ 85 billion.On Wednesday, the report on inflation in the wholesale link (producer prices) was released. The PPI showed an unexpected strong growth of + 0.5%, despite its initial forecast of +0.1%. This indicates an increase of 2% per annum, which closes the idea that the Fed will reduce the rates in the future. Instead, it opens the possibility of the Fed raising the rate after some time.EUR/USD: the pair is in a downward trend. Attempts for a correction are being made.Keep selling from 1.0990.Sales, with a rebound from 1.0860 or higher, are possibleThe material has been provided by InstaForex Company – www.instaforex.com…

Australia January Unemployment Rate Rises To 5.3%

The jobless rate in Australia came in at a seasonally adjusted 5.3 percent in January, the Australian Bureau of Statistics said on Thursday. That exceeded expectations for 5.2 percent and was up from 5.1 percent in December. The Australian economy added 13.500 jobs last month to 12,995,400 people, again surpassing forecasts for a gain of 10,000 jobs following the gain of 28,900 jobs in the previous month. Full-time employment increased by 46,200 to 8,882,200 people and part-time employment decreased by 32,700 to 4,113,300 people. Unemployment increased by 31,000 to 725,900 people. The participation rate was 66.1 percent, exceeding expectations for 66.0 percent – which would have been unchanged from the month prior. Monthly hours worked in all jobs decreased by 8.1 million hours to 1,781.8 million hours. The monthly seasonally adjusted underemployment rate increased by 0.3 pts to 8.6 percent. The monthly underutilization rate increased by 0.5 pts to 13.9 percent. The material has been provided by InstaForex Company – www.instaforex.com…

*Australia Jobless Rate 5.3% In January; 13,500 Jobs Added

Australia Jobless Rate 5.3% In January; 13,500 Jobs Added The material has been provided by InstaForex Company – www.instaforex.com…

Forecast for EUR/USD on February 20, 2020

EUR/USD
The euro gained 13 points on Wednesday as part of a moderate expected correction after the previous three-figure fall. The growth could have been greater, but this was hindered by the fall of the British pound and the Japanese yen and the report on the eurozone balance of payments for December, which showed a balance of 32.6 billion euros against expectations of 34.5 billion. Data on the laying of new homes in the US for January showed a small decrease: 1.57 million against 1.63 million a month earlier, but the issued building permits increased from 1.42 million to 1.56 million, showing the highest figure since January 2007. Published minutes from the last FOMC Fed meeting showed nothing interesting.
On the daily chart, the signal line of the Marlin Oscillator is pointing upward, it is possible to continue the correction to the Fibonacci level of 161.8% at the price of 1.0840. The main objectives of declining 1.0745 and 1.0650/80 are maintained.
On the four-hour chart, the double convergence according to Marlin retains its potential effect, which may result in continued price growth, but the signal line of the oscillator stopped at the boundary with the territory of growth….

Australia Unemployment Data Due On Thursday

Australia will on Thursday release unemployment figures for January, highlighting a modest day for Asia-Pacific economic activity. The jobless rate is expected to come in at 5.2 percent, up from 5.1 percent in December. The Australian economy is tipped to add 10,000 jobs following the addition of 28,900 in the previous month. New Zealand will provide Q4 numbers for producer prices; in the previous three months, inputs were up 1.0 percent on quarter and outputs rose 0.9 percent on quarter. Japan will see final January figures for machine tool orders; the previous reading suggested a decline of 35.6 percent on year. Hong Kong will release consumer price data for January; in December, inflation was up 2.9 percent on year. The central bank in Indonesia will wrap up its monetary policy meeting and then announce its decision on interest rates. The bank is widely expected to keep its benchmark lending rate unchanged at 5.00 percent. The material has been provided by InstaForex Company – www.instaforex.com…

New Zealand Q4 Producer Prices Outputs Gain 0.4%

Producer price outputs in New Zealand were up 0.4 percent on quarter in the fourth quarter of 2019, Statistics New Zealand said on Thursday, slowing from the 1.0 percent gain in the previous three months. Producer price inputs were up 0.1 percent on quarter, slowing from 0.9 percent in the three months prior. On a yearly basis, outputs rise 1.4 percent and inputs were up 0.3 percent. Capital goods prices advanced 0.5 percent on quarter and 2.8 percent on year, while wage rates increased 0.7 percent on quarter and 2.6 percent on year. The material has been provided by InstaForex Company – www.instaforex.com…

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Pound: cancellation of the long scenario

Good evening, dear traders! I present to your attention an analysis of the GBP/USD pair.
So, according to our morning recommendation, we advised taking long positions on the GBP/USD pair, in particular, on the good news on inflation today. In this regard, inflation data came out more than positive:
After that, the GBP/USD pair started to increase rapidly; however, the growth slowed down after half an hour and the news positive was completely absorbed.
For this reason, the log scenario is considered undeveloped. Apparently, there are reasons that force traders to sell the pound even on such strong and positive news. And this is unusual, given that this is not the first positive news about Britain in recent times.
The target level for purchases of 1.3070 remains with us. Thus, we will recommend taking long positions for this target when there are buy signals (possibly lower than current prices).
Have a successful trading and control the risks!
The material has been provided by InstaForex Company – www.instaforex.com…

GBP/USD. Brexit vs inflation

The pound continues to be under pressure: despite good data on the growth of British inflation, the GBP/USD pair showed only a small price spurt, after which the pair plunged to the middle of the 29th figure. To the disappointment of the bulls of the pair, the news background regarding the prospects of the negotiation process between London and Brussels was not on the side of the British currency. And as you know, the Brexit issue is a priority for the pair – even American events are often ignored by the market when it comes to the “divorce proceedings”. And although Brexit itself is already left behind, now the parties are trying to crystallize the rules for further relations. Harsh statements and comments (both from Brussels and London) offset any other fundamental factors.
It is noteworthy that the main reports that were published this week did not significantly pull down the pound. On the contrary, the labor market showed good dynamics (though salaries did not reach the forecasted values), and today’s inflation indicators – as a selection – they all came out in the green zone. If not for the Brexit factor, the pound paired with the dollar would…