Tag Archives: trader coffee on forex markets

Spain Unemployment Increases In November

Spain’s unemployment increased in November, data from the Ministry of Labor, Migration and Social Security showed on Tuesday. The number of registered unemployed increased by 20,525 in November from the previous month. The average increase in unemployment over the last ten years was 20,477. Nonetheless, the number of unemployed totaled 3.198 million, the lowest for the month of November since 2008. Compared to last year, the number of people out of work decreased by 54,683 or 1.68 percent in November. The youth unemployment, which covers persons below 25 years of age, decreased by 0.26 percent from the previous month. Unemployment in agriculture decreased 1,715 and fell by 607 in industry. Meanwhile, unemployment in construction increased 1,738 and by 23,934 in services. The material has been provided by InstaForex Company – www.instaforex.com…

GBPUSD weekly bullish flag

GBPUSD is consolidating around 1.30 while it has formed a bullish flag pattern. A weekly close above 1.30 will be a bullish signal and this could lead to more upside in GBPUSD. Next upside target should be around 1.3170 and 1.3455.Red lines – bullish flag patternBlack line -resistance trend lineGBPUSD is breaking both the 38% Fibonacci retracement resistance level and the bullish flag pattern upwards. Our next target is at 1.3170. As long as price is above the black downward sloping resistance trend line, we remain bullish. Support is at 1.2770. Bulls do not want to see this level broken downwards as this will decrease the chances of reaching 1.3170.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…

BTC 12.03.2019 – Broken bearish flag in the overall downward trend

BTC has been trading sideways at the price of $7.292. The overall trend is still bearish and my advice is still to watch for selling opportunities. Downward targets are set at the price of $6.846 and $6.560.Ichimoku Indicator analysis:There is Kijun-Tenkan bear cross on the 4H time-frame, which is good indication for the further downside. I would watch for potential breakout of mini-support at the price of $7.200 to confirm downside continuiation and eventual test of $6.546 and $6.560.Resistance levels are seen at the price of $7.350 and $7.667.The material has been provided by InstaForex Company – www.instaforex.com…

EUR/USD. December 3. Market focus on Christine Lagarde’s “fundamental valuation” and Donald Trump’s duties

EUR/USD – 4H.

On December 3, the EUR/USD pair performed consolidation over the correction levels of 38.2% (1.1057) and 23.6% (1.1029) on the new grid of Fibo levels and performed an increase to the Fibo level of 50.0% (1.1080). Also, the closure was performed over the downward trend corridor, which is no longer working. Based on this, I expect the euro-dollar pair to continue to grow in the coming days, although there are also enough factors in favor of the opposite scenario. For the most part, they are economic. At the same time, it is impossible to deny the ability of the euro currency to grow by 100-200 points.
Yesterday had quite a rich background of information. Two key events of the day could and caused a change in the balance of supply and demand for the EUR/USD currency pair. Demand for the euro has grown thanks to the actions of Donald Trump, as well as economic reports on business activity in the European Union and America. It is easy to guess that these events were negative for the US dollar, although the actions of the US president can be interpreted in different ways. I would like to note at once that earlier…

Trader’s Diary: EURUSD on 12/03/2019, Market condition

EURUSDOn Monday, December 2, the euro received a strong impulse upwards, this is seen in the chart above. Many traders probably rated this as the beginning of a large, strong trend. Moreover, there has not been a real strong movement in the euro for a very long time, since October 2018.The issue of trend is a question of market conditions. And market condition is a very important issue for the architecture of the Trading System.As I wrote in my past article, the Trading System is divided into simple and complex systems, where in a simple system the question of market condition is simply ignored. Vehicle parameters and filters are selected in such a way as to exclude periods of long-term losses and drawdowns. The disadvantage of this approach is that the longer we trade on a Trading System (TS), the more likely the market will be stuck for a long time in an unfavorable phase for our system, and no settings and filters will be saved.A radical solution is to introduce the concept of Market State into a TS and then remove the system in an unfavorable market. It is obvious that in a trend it is not worth trading a…

Australia Central Bank Holds Key Rate As Expected

Australia’s central bank left its key interest rate unchanged on Tuesday, as policymakers wait to see the impact of previous easing. The board of the Reserve Bank of Australia, governed by Philip Lowe, decided to leave the cash rate unchanged at a record 0.75 percent. The central bank had lowered the rate by 25 basis points in October, which was the third such reduction this year. “Given these effects of lower interest rates and the long and variable lags in the transmission of monetary policy, the Board decided to hold the cash rate steady at this meeting,” the bank said in a statement. The bank repeated that it was reasonable to expect that an extended period of low interest rates will be required in Australia to reach full employment and achieve the inflation target. The bank reiterated that it is prepared to ease monetary policy further if needed. The bank observed that the lower cash rate has put downward pressure on the exchange rate, which is supporting activity across a range of industries. It has also boosted asset prices, which in time should lead to increased spending, including on residential construction. Marcel Thieliant, an economist at Capital Economics expects…

*Aussie Rallies To Near 3-week High Of 0.6844 Vs U.S. Dollar After RBA Decision

Aussie Rallies To Near 3-week High Of 0.6844 Vs U.S. Dollar After RBA Decision The material has been provided by InstaForex Company – www.instaforex.com…