Monthly Archives: February 2017

Australia Manufacturing PMI Jumps To 59.3 In February – AiG

By | February 28, 2017

The manufacturing sector in Australia continued to expand in February, and at a sharply faster pace, the latest survey from the Australian Industry Group showed on Wednesday with a Performance of Manufacturing Index score of 59.3.

That marks a large jump from 51.2 in January, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

It also marks the highest index reading since May 2002.

Individually, new orders, sales, production and employment all saw solid gains.

“The surge in February builds on a recovery from the sluggish performance in the third quarter of last year and marks a fifth month of expansion,” said Australian Industry Group chief executive Innes Willox.

The material has been provided by InstaForex Company – www.instaforex.com

NZD/USD approaching assistance, prepare to purchase

By | February 28, 2017

We prepare to turn bullish above the 0.7176 support( Fibonacci retracement, horizontal overlap assistance)for a push up to the 0.7240 resistance(Fibonacci retracement,

horizontal overlap resistance). Stochastic (21,5,3) is seeing strong assistance at the 10% level where we expect a bounce in the price from.Buy above

0.7176. Stop loss at 0.7137. Take revenue at 0.7240.

analytics58b5a70a7053f.png

The product has actually been provided by InstaForex Business – www.instaforex.com

AUD/USD stay bullish above assistance

By | February 28, 2017

We stay bullish above the 0.7668 assistance( long-term ascending support, horizontal assistance, Fibonacci extension )for an additional push up to the0.7733 resistance(Fibonacci extension, horizontal resistance).

The RSI (34) is seeing strong support above the 41% level where we anticipate the price to continue to increase from.Buy above

0.7668. Stop loss at 0.7646. Take revenue at 0.7733.

analytics58b5a6e621f12.png

The product has been provided by InstaForex Business – www.instaforex.com

Elliott wave analysis of EUR/NZD for February 28, 2017 888011000 110888 Wave summary: For the time being the characteristics of EUR/NZD is sluggish. We still think a long-lasting low was seen at 1.4495, and a new spontaneous rally is on. We need a break above the resistance at 1.4866 to validate that the low is in location and a brand-new impulsive rally higher to 1.5282 and 1.5836 is unfolding. Thisbullish count leaves out the possibility of a breaklisted below 1.4495. R3: 1.4866 R2: 1.4804 R1: 1.4751 Pivot: 1.4675 S1: 1.4615 S2: 1.4554 S3: 1.4495 Trading suggestion: We are long EUR from 1.4840 with stop positioned at 1.4490. If you are shortly EUR yet, purchase upon a break above 1.4866 and utilize the exact same stop at 1.4490. The product has actually been offered by InstaForex Company-www.instaforex.com

By | February 28, 2017

analytics58b5972429cad.png

Wave summary:

For the time being the dynamics of EUR/NZD is sluggish. We still think a long-term low was seen at 1.4495, and a new impulsive rally is on. However, we need a break above the resistance at 1.4866 to confirm that the low is in place and a new impulsive rally higher to 1.5282 and 1.5836 is unfolding.

This bullish count excludes the possibility of a break below 1.4495.

R3: 1.4866

R2: 1.4804

R1: 1.4751

Pivot: 1.4675

S1: 1.4615

S2: 1.4554

S3: 1.4495

Trading recommendation:

We are long EUR from 1.4840 with stop placed at 1.4490. If you are not long EUR yet, buy upon a break above 1.4866 and use the same stop at 1.4490.

The material has been provided by InstaForex Company – www.instaforex.com

Elliott wave analysis of EUR/JPY for February 28, 2017 888011000 110888 Wave summary: Ideally wave (iv )finished with the test of 118.19 and wave(v)to above 124.09 should now be seen, but we need a break above resistance seen at 119.86 to confirm that wave (iv) has actually finished and wave(v)higher is unfolding. Short-term support is seen at 118.55and after that at118.19. The later can not be broken under this bullish count.R3: 120.32 R2: 119.86 R1: 119.47 Pivot: 118.75 S1: 118.55 S2: 118.19 S3: 118.00 Trading recommendation: Purchase a break above 119.86 and put your stop at 118.10. The material has actually been supplied by InstaForex Company-www.instaforex.com

By | February 28, 2017

analytics58b595f10c2a8.png

Wave summary:

Preferably wave (iv) completed with the test of 118.19 and wave (v) to above 124.09 should now be seen, but we need a break above resistance seen at 119.86 to confirm that wave (iv) has completed and wave (v) higher is unfolding. Short-term support is seen at 118.55 and then at 118.19. The later cannot be broken under this bullish count.

R3: 120.32

R2: 119.86

R1: 119.47

Pivot: 118.75

S1: 118.55

S2: 118.19

S3: 118.00

Trading recommendation:

Buy a break above 119.86 and place your stop at 118.10.

The material has been provided by InstaForex Company – www.instaforex.com

EUR/JPY basic analysis for February 28, 2017 888011000 110888 EUR/JPY has actually recently declined from the resistance 119.40 and the rate is presently in bearish predisposition. Today EUR had some economic occasions, such as French Consumer Costs which is forecasted to be 0.6 and it was unchanged after published along with French Prelim GDP was also the same with the forecast at 0.4%. French prelim CPI had some unfavorable report at 0.1% which was anticipated to be 0.4% and Italian Prelim CPI was favorable at 0.3% which was forecasted to be 0.1%. On the other hand, JPY had Prelim Industrial Production report which was anticipated to be 0.4% but released at -0.8% and Retail Sales report was forecasted at 0.9%, released at 1.0%. Despite the negative news of JPY commercial production EUR was not able to provide pressure on JPY. Daily close today will decide the further relocations in this pair.Now let uslook at the technical view, the cost has rejected from the 119.40 resistance and some bearish pressure is observed in this pair. As of current bullish pressure it is not a great time for offering in this pressure however if the cost clears the nearby assistance level 118.20 then it is anticipated that the bearish predisposition will continue, till then the cost is anticipated to fluctuate in between the location of 118.20-119.40. The product has been supplied by InstaForex Company -www.instaforex.com

By | February 28, 2017

EUR/JPY has recently rejected from the resistance 119.40 and the price is currently in bearish bias. Today EUR had some economic events, such as French Consumer Spending which is forecasted to be 0.6 and it was unchanged after published as well as French Prelim GDP was also unchanged with the forecast at 0.4%. French prelim CPI had some negative report at 0.1% which was forecasted to be 0.4% and Italian Prelim CPI was positive at 0.3% which was forecasted to be 0.1%. On the other hand, JPY had Prelim Industrial Production report which was forecasted to be 0.4% but published at -0.8% and Retail Sales report was forecasted at 0.9%, published at 1.0%. Despite the negative news of JPY industrial production EUR was unable to provide pressure on JPY. Daily close today will decide the further moves in this pair.

Now let us look at the technical view, the price has rejected from the 119.40 resistance and some bearish pressure is observed in this pair. As of recent bullish pressure it is not a good time for selling in this pressure but if the price clears the nearest support level 118.20 then it is expected that the bearish bias will continue, till then the price is expected to fluctuate between the area of 118.20-119.40.

analytics58b59523c11c1.jpg

The material has been provided by InstaForex Company – www.instaforex.com

U.S. Consumer Confidence Suddenly Enhances In February

By | February 28, 2017

Consumer confidence in the United States suddenly improved in the month of February, according to a report launched by the Conference Board on Tuesday.

The Conference Board said its consumer confidence index reached 114.8 in February after being up to a modified 111.6 in January.

Financial experts had actually anticipated the index to edge down to 110.9 from the 111.8 originally reported for the previous month.

With the unanticipated rebound, the customer self-confidence index increased to its highest level considering that reaching 116.3 in July of 2001.

The report said the president scenario index increased to 133.4 in February from 130.0 in January, as customers rated present company and labor market conditions more positively.

Consumer stating organisation conditions are “good” edged down to 28.7 percent from 29.0 percent, but those stating conditions are “bad” also fell to 13.2 percent from 15.9 percent.

While the portion of consumers saying jobs are “abundant” dipped to 26.2 percent from 27.1 percent, those stating jobs are “hard to get” likewise decreased to 20.3 percent from 21.1 percent.

The Conference Board said the expectations index also reached 102.4 in February from 99.3 in the previous month.

Customers anticipating business conditions to enhance over the next six months increased to 24.0 percent from 22.9 percent, although those expecting conditions to worsen likewise inched up to 11.1 percent from 10.8 percent.

The percentage of customers expecting more jobs in the months ahead ticked up to 20.4 percent from 19.7 percent, while those anticipating less jobs dropped to 13.6 percent from 14.4 percent.

“In general, customers expect the economy to continue expanding in the months ahead,” said Lynn Franco, Director of Economic Indicators at the Conference Board.

The product has actually been offered by InstaForex Company – www.instaforex.com

Chicago Organisation Barometer Jumps To Two-Year High In February

By | February 28, 2017

After reporting an unexpected slowdown in the speed of growth in Chicago-area service activity in the previous month, MNI Indicators launched a report on Tuesday showing a much larger than expected rebound in development in the month of February.

MNI Indicators said its Chicago service barometer jumped to 57.4 in February after being up to 50.3 in January, with a reading above 50 suggesting growth in business activity. Financial experts had anticipated the index to increase to 53.0.

With the much bigger than anticipated boost, the Chicago company barometer rose to its highest level considering that January of 2015.

The sharp increase was led by four of the five components of the business barometer, with only the supplier shipment index receding.

MNI Indicators stated the brand-new orders index surged up by 10.1 points, climbing up back into growth territory after briefly slipping listed below 50 in January.

The production index likewise increased by 4.3 points during the month to reach a thirteen-month high of 60.3 in February.

The report likewise stated the employment index moved into growth for the first time in four months, hitting its highest level considering that October of 2014.

On the inflation front, the costs paid index leapt by 7.2 points to 68.6 in February, suggesting inflationary pressures at the factory-gate increased for the 3rd consecutive month.

” The current survey reveals a continuance of price boosts, with Rates Paid at the greatest level because
September 2014,” stated Shaily Mittal, senior financial expert at MNI Indicators.

She added, “With inflationary pressures on the increase and the job market having actually enhanced, the next rate walking might come soon, possibly in the coming quarter.”

The Federal Reserve is scheduled to hold a two-day monetary policy conference on March 15th and 14th to make its next decision on interest rates.

The product has actually been supplied by InstaForex Business – www.instaforex.com

GBP/USD fundamental analysis for February 28, 2017 888011000 110888 GBP/USD is still residing inside the restorative structure between 1.2550-1.2416. Today GBP has had such financial event as MPC Member– Designate Hogg Speech and it was good for GBP as additional monetary policies were gone over. It influenced the marketplace as it bounced off from the support 1.2416. Today USD also had high-impact news of Prelim GDP report which was forecasted to be 2.1% however released at 1.9%. The unfavorable report of USD helped GBP to bounce off from the support and Upcoming United States CB Consumer Confidence is forecasted to be 111.3 and the news is expected to bring some volatility in the market.Now let us take a look atthe technical view, presently the rate has bounced from the assistance location of 1.2385-1.2416. As of GBP already getting some bullish pressure from the support it is anticipated that the cost is going to go up towards the resistance at 1.2550 quickly. On the other hand, if the cost breaks below the assistance level 1.2385 then the restorative structure will break and we will alter our predisposition to bearish. The material has actually been offered by InstaForex Company-www.instaforex.com

By | February 28, 2017

GBP/USD is still residing inside the corrective structure between 1.2550-1.2416. Today GBP has had such economic event as MPC Member – Designate Hogg Speech and it was good for GBP as further monetary policies were discussed. It influenced the market as it bounced off from the support 1.2416. Today USD also had high-impact news of Prelim GDP report which was forecasted to be 2.1% but published at 1.9%. The negative report of USD helped GBP to bounce off from the support and Upcoming US CB Consumer Confidence is forecasted to be 111.3 and the news is expected to bring some volatility in the market.

Now let us look at the technical view, currently the price has bounced from the support area of 1.2385-1.2416. As of GBP already getting some bullish pressure from the support it is expected that the price is going to move up towards the resistance at 1.2550 soon. On the other hand, if the price breaks below the support level 1.2385 then the corrective structure will break and we will change our bias to bearish.

analytics58b5903100b47.jpg

The material has been provided by InstaForex Company – www.instaforex.com