Tag Archives: XTI USD

European Economics Preview: Germany Factory Orders Data Due

Factory orders from Germany and revised quarterly national accounts from euro area are due on Thursday, headlining a light day for the European economic news. At 2.00 am ET, Destatis is scheduled to issue Germany’s factory orders for October. Economists forecast orders to grow 0.4 percent on month, slower than the 1.3 percent increase in September. At 3.00 am ET, Spain’s INE is slated to release industrial production for October. Economists expect production to drop 0.5 percent on month after falling 0.8 percent in September. In the meantime, retail sales from Hungary and GDP from Slovakia are due. At 3.30 am ET, IHS Markit releases Germany’s construction PMI data for November. At 5.00 am ET, Eurostat publishes revised GDP and retail sales data. The single-currency bloc is forecast to expand 0.2 percent sequentially as initially estimated in the third quarter. Economists forecast euro area retail sales to drop 0.3 percent on month in October, in contrast to a 0.1 percent rise in September. The material has been provided by InstaForex Company – www.instaforex.com…

Trading plan for EUR/USD for December 05, 2019

Technical outlook:EUR/USD is heading higher, having broken above 1.1110 levels and having taken out past interim resistance. An immediate potential direction should be lower towards 1.1030 levels at least. There are two potential wave counts which can unfold from here. 1. The boundary which is being worked upon is between 1.0981 and 1.1116 and a retracement to 1.1030 levels could be the next entry on the long side. For this count to remain valid, prices should stay above 1.0981, going forward. 2. The corrective drop from 1.1181 levels might be unfolding as a more complex combination which is still not complete. Yet another drop below 1.0981 could be possible with a potential target towards 1.0940, which is fibonacci 0.786 support of the entire rally between 1.0879 and 1.1181 levels respectively. In either case, EURUSD should remain bullish until prices stay above 1.0879 levels, going forward. The expected rally might materialize either from 1.1030 or 1.0940 levels respectively.Trading plan:Take partial profits now.Buy again at 1.1030 levels, stop at 1.0879, target is 1.1500Good luck!The material has been provided by InstaForex Company – www.instaforex.com…

Crude Oil Spikes On Drop In Inventories Ahead Of OPEC Meeting

Crude oil prices showed a substantial move to the upside during trading on Wednesday as traders looked ahead to the start of OPEC’s biannual meeting in Vienna on Thursday. After inching up $0.14 or 0.3 percent to $56.10 a barrel on Tuesday, crude for January delivery spiked $2.33 or 4.2 percent to $58.43 a barrel. The jump in oil prices came after a report from the Energy Information Administration showed a steeper than expected weekly drop in crude oil inventories. The report said crude oil inventories tumbled by 4.9 million barrels in the week ended November 29th compared to estimates for a decrease of about 1.7 million barrels. Meanwhile, the EIA said gasoline inventories climbed by 3.4 million barrels last week and distillate fuel inventories increased by 3.1 million barrels. Traders were also looking ahead to the meeting of OPEC members of other oil producers and potential changes in oil production policy. Reports suggest OPEC and its allies will discuss increasing the existing supply cut of 1.2 million barrels per day by another 400,000 barrels per day and extend the pact until June. Renewed optimism about trade also contributed to oil’s rally after a report from Bloomberg News indicated the…

Gold Prices Give Back Ground After Yesterday's Jump

Following the sharp increase seen in the previous session, the price of gold gave back some ground during trading on Wednesday. Gold for February delivery slipped $4.20 or 0.3 percent to $1,480.20 an ounce after jumping $15.20 or 1 percent to $1,484.40 an ounce on Tuesday. The pullback by the price of the precious metal came amid renewed optimism about trade after a report from Bloomberg News indicated the U.S. and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a phase one trade deal. Citing people familiar with the talks, Bloomberg said U.S. negotiators expect a phase one deal to be completed before U.S. tariffs are set to rise on December 15. The people told Bloomberg outstanding issues in the talks include how to guarantee China’s purchases of U.S. agricultural goods and exactly which tariffs to roll back. Bloomberg said the people downplayed President Donald Trump’s recent remarks suggesting he would like to delay completing an agreement until after the 2020 elections, noting the president was speaking off the cuff. Selling pressure was relatively subdued, however, as traders also digested some disappointing U.S. economic data, including a report from payroll processor…

*Bank Of Canada Maintains Overnight Rate Target At 1.75%

Bank Of Canada Maintains Overnight Rate Target At 1.75% The material has been provided by InstaForex Company – www.instaforex.com…

U.S. Private Sector Employment Rises Much Less Than Expected In November

Private sector employment increased by much less than anticipated in the month of November, according to a report released by payroll processor ADP on Wednesday. ADP said private sector employment rose by 67,000 jobs in November after climbing by a revised 121,000 jobs in October. Economists had expected employment to jump by 140,000 jobs compared to the addition of 125,000 jobs originally reported for the previous month. “The job market is losing its shine,” said Mark Zandi, chief economist of Moody’s Analytics. “Job openings are declining and if job growth slows any further unemployment will increase.” The weaker than expected job growth came as a continued increase in employment in the service-providing sector was partly offset by a loss of jobs in the good-producing sector. The service-providing sector added 85,000 jobs, driven by healthcare and professional services, while the goods-producing sector lost 18,000 jobs. Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said job creation slowed across all company sizes but noted small companies continued to face more pressure than their larger competitors. The report said employment at small businesses edged up by 11,000 jobs, while large and mid-sized businesses added 27,000 jobs and 29,000 jobs, respectively….

NASDAQ_ideas for the session

Good afternoon,NASDAQ has dropped sharply in the recent 2 days from 8,400 levels. It found support in the 8,160 area, lows of early November, now is almost 150 ticks higher. While the yellow trendline, the steepest descending channel has been broken this morning, providing some technical relief, I would like to SELL close to 8,325 levels (red line) with stops around 8,345.The 1st target in the green line should be met somewhere around 8,270. Check out if it’s broken.Stay safeThe material has been provided by InstaForex Company – www.instaforex.com…

GBP/USD: plan for the US session on December 4. The services sector revived demand for the British pound, which went to update

To open long positions on GBPUSD, you need:The services sector has revived demand for the British pound, which went to renew highs before the important general election in the UK, which is scheduled for December 12 this year. The breakout of the large resistance of 1.3009, which I paid attention to in my morning forecast, led to the demolition of several stop orders of sellers and further supported GBP/USD. At the moment, after fixing above the next resistance of 1.3039, the bulls rushed to the maximum of 1.3074 and 1.3125, where I recommend taking the profits. With a downward correction in the second half of the day, which is unlikely to happen today, you can count on new purchases after a false breakout at a minimum of 1.3055.To open short positions on GBPUSD, you need:Sellers are in no hurry to return to the market after the demolition of several stop orders. Therefore, it is best to focus on the resistance of 1.3125, the formation of a false breakout on which will be a signal to sell the pound. Otherwise, it is best to sell GBP/USD on a rebound from the level of 1.3167. Only good data on the services sector in…

Fractal analysis for major currency pairs as of December 4

Hello, dear colleagues.
For the Euro/Dollar pair, the price forms the initial conditions for the top of November 29 and the level of 1.1096 is the key resistance. For the Pound/Dollar pair, we expect the continuation of the upward cycle from November 27 after the breakdown of 1.3075. For the Dollar/Franc pair, we expect the development of the upward structure from November 29 after the breakout of 0.9862. For the Dollar/Yen pair, we follow the formation of a downward structure from December 2 and the level of 108.31 is the key resistance. For the Euro/Yen pair, the price is close to the cancellation of the upward structure of November 22, which requires a breakdown of the level of 120.10. For the Pound/Yen pair, the price is still in the correction area for the upward structure of November 22 and the level of 140.24 is the key support.
Forecast for December 4:
Analytical review of currency pairs on the H1 scale:

For the Euro/Dollar pair, the key levels on the H1 scale are 1.1170, 1.1130, 1.1114, 1.1096, 1.1065, 1.1048, and 1.1024. We follow the formation of the expressed initial conditions for the top of November 29. We expect the upward movement to continue after the breakdown…