Tag Archives: what is forex market

Forecast for EUR/USD on December 9, 2019

EUR / USD
On Friday, the price returned to the Fibonacci level of 123.6% and under the embedded line of the declining blue price channel, due to excellent data on US employment. At the same time, the breakdown of support occurred exactly at the intersection of these two lines, which is a sign of strong movement, with prospects for further development. The signal line of the Marlin oscillator, in turn, returned to the downward trend zone.
The first target of the movement will be the Fibonacci level of 138.2% at the price of 1.0985. After that, breaking through this support from which the price turned up on November 29 and 14, will open lower targets: 1.0925 (lows of September 12 and 3) and 1.0895. As it moves further, the price will have to fight with the Fibonacci level of 161.8% at the price of 1.0845 and go down to the lower line of the blue price channel in the region of 1.0710.
On the four-hour chart, the price has consolidated below the MACD line; the Marlin oscillator is completely in a downward trend.
The material has been provided by InstaForex Company – www.instaforex.com…

*New Zealand Manufacturing Value +0.9% On Quarter In Q3; Volume -0.3%

New Zealand Manufacturing Value +0.9% On Quarter In Q3; Volume -0.3% The material has been provided by InstaForex Company – www.instaforex.com…

EUR/USD. December 8. Results of the week. “Black Friday” for the European currency.

4 hour time-frame
Amplitude of the last 5 days (high-low): 87p – 27p – 49p – 31p – 70p.
Average volatility over the past 5 days: 53p (average).
On Friday, December 6, the EUR/USD currency pair had every chance to continue the not-so-strong upward movement, as the macroeconomic publications planned for this day in America could not reach forecast values well. At the beginning of this week and last week, several macroeconomic reports from the United States have already made market participants nervous and even wonder whether the fed took a pause in the cycle of monetary policy easing too soon? However, as practice has shown, it is not early. The euro fell under serious market pressure and fell to the level of 1.1055, which we designated on Friday morning as the lower limit of the daily trading range for the euro/dollar pair. Thanks to the data received from overseas on Friday.
Let’s start with the least significant Friday report, which, however, is quite important. In October, industrial production in Germany declined by 5.3% yoy and 1.7% mom. Here, even any comments are unnecessary. The only positive thing about this report is that it is an October issue. Nevertheless,…

Short-term Elliott wave analysis on EURUSD

EURUSD is in a corrective phase. Price was expected to move higher as wave B and turn lower towards the 61.8% Fibonacci retracement and wave C. Price did exactly that and now it is important for the bullish scenario to see price reverse to the upside.EURUSD has made a three wave correction this far towards the 61.8% Fibonacci retracement as expected. Now for this bullish wave scenario to be valid, we need to see price reverse to the upside. Another 5 wave upward move is expected to unfold from current levels. Support is at 1.1030 and this scenario will lose its strength if this level is broken downwards. On the contrary, this bullish scenario will increase its chances of success if price breaks above the B wave high. The price action of this week will tell us more of what to expect for EURUSD….1.13 or 1.09?The material has been provided by InstaForex Company – www.instaforex.com…

U.S. Consumer Credit Jumps More Than Expected In October

Consumer credit in the U.S. increased by more than anticipated in the month of October, according to a report released by the Federal Reserve on Friday. The Fed said consumer credit surged up by $18.9 billion in October after climbing by $9.6 billion in September. Economists had expected consumer credit to increase by $16.0 billion. Revolving credit, which largely reflects credit card debt, rose by $7.9 billion in October after edging down by $0.2 billion in September. The report said non-revolving credit, such as student loans and car loans, also jumped by $11.0 billion in October after increasing by $9.4 billion in the previous month. Total consumer credit was up by 5.5 percent compared to the same month a year ago, as revolving credit spiked by 8.8 percent and non-revolving credit surged up by 4.3 percent. The material has been provided by InstaForex Company – www.instaforex.com…

U.S. Consumer Sentiment Climbs To Seven-Month High In December

Preliminary data released by the University of Michigan on Friday showed a much bigger than expected improvement in U.S. consumer sentiment in the month of December. The report said the consumer sentiment index climbed to 99.2 in December from the final November reading of 96.8. Economists had expected the index to inch up to 97.0. With the much bigger than expected increase, the consumer sentiment index reached its highest level since hitting 100.0 in May. The current economic index jumped to 115.2 in December from 111.6 in November, while the index of consumer expectations rose to 88.9 from 87.3. Surveys of Consumers chief economist Richard Curtin said nearly all of the improvement in consumer sentiment in December was among upper income households, who reported near record gains in household wealth due to record high stock prices. “Indeed, among households with incomes in the top third of the distribution, their overall assessment of their current finances was the third highest in the past twenty years,” Curtin said. He added, “These gains were aided by declining inflation expectations, with long term inflation expectations returning to an all-time low.” The report said one-year inflation expectations edged down to 2.4 percent in December from…

*U.S. Consumer Sentiment Index Climbs To 99.2 In December

U.S. Consumer Sentiment Index Climbs To 99.2 In December The material has been provided by InstaForex Company – www.instaforex.com…