Monthly Archives: July 2017

Treasuries Close Roughly Flat Ahead Of Key Data

By | July 31, 2017

Treasuries showed an absence of instructions over the course of the trading session on Monday ahead of the release of crucial economic data.

Bond prices spent the day recovering and forth throughout the unchanged line before closing roughly flat. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its prices, inched up by less than a basis indicate 2.292 percent.

The choppy trading came as traders appeared reluctant to make substantial moves ahead of the release of the regular monthly tasks report on Friday.

The report is expected to reveal work climbed by 180,000 tasks in July, while the unemployment rate is anticipated to dip to 4.3 percent.

Reports on personal earnings and manufacturing, costs and service sector activity, and global trade are also likely to draw in attention in the coming days.

On the United States economic front, the National Association of Realtors launched a report revealing pending house sales rebounded by more than anticipated in the month of June.

NAR stated its pending home sales index leapt by 1.5 percent to 110.2 in June after being up to 108.6 in Might. Economic experts had actually expected pending house sales to climb up by 1.0 percent.

A pending home sale is one in which an agreement was signed but not yet closed. Typically, it takes 4 to six weeks to close a contracted sale.

A different report from MNI Indicators revealed development in Chicago-area organisation activity slowed by more than expected in the month of July.

MNI Indicators said its Chicago company barometer tumbled to 58.9 in July from 65.7 in June. While a reading above 50 still suggests development, financial experts had actually expected the index to drop to 61.0.

Trading on Tuesday might be impacted by response to reports on personal earnings and spending, production activity and building costs.

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Crude Oil On Edge Of $50, Up 8% For July

By | July 31, 2017

Petroleum futures rebounded from early losses Monday, sneaking closer to $50 for the very first time this summer season.

Crude oil bulls have actually come alive in July, prodded by signs that OPEC will do whatever it requires to re-balance oil markets.

Last week, the Company of the Petroleum Exporting Countries and partners consisting of Russia agreed to reduce output by about 1.8 million barrels per day (bpd) till March 2018.

The majority of the production cuts are being carried by Saudi Arabia. Nigeria, which was exempt from the supply quota plan, will now make some cuts.

Helped likewise by a weak U.S. dollar, U.S. West Texas Intermediate (WTI) futures were up 7 cents at $49.78 a barrel. Petroleum jumped more than 8% in July.

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Basic analysis of EUR/USD for July 31, 2017 888011000 110888 EUR/USD has actually been impulsively bullish forming a non-volatile pattern given that it broke above the 115.00 resistance level just recently. The Eurozone has actually published some upbeat financial reports just recently whereas USD is on losing streak amid bad economic reports which can be observed presently in the market. There are specific tips of USD anticipating a rate hike, EUR appears to control even more with hawkish ECB statements and positive economic reports. Today the German Retail Sales report was published with an increased worth of 1.1% from the previous worth of 0.5% which was expected to decrease to 0.1%. The Italian Regular monthly Unemployment Rate revealed a small decline to 11.1% from the previous value of 11.3% which was expected to be at 11.2%. The CPI Flash Price quote report was released with an unchanged value at 1.3%, and the Core CPI Flash Estimate report showed a minor boost to 1.2% which was anticipated to be the same at 1.1%. Furthermore, the Italian Prelim CPI report showed a positive outcome at 0.1% from the previous unfavorable worth of -0.1% which was expected to be at 0.0%. Besides, the EU Unemployment Rate report showed a decline to 9.1% which was anticipated to be unchanged at 9.2%. There had actually readied quantity of favorable economic reports on the EUR side today which put USD under pressure. Speaking about the United States news, today the Chicago PMI report was published with worst figure at 58.9 from the previous worth of 65.7 which was anticipated to be at 60.8. At the very same time, the Pending House Sales report revealed a favorable outcome with a boost to 1.5% from the previous worth of -0.7% which was expected to be at 0.9%. The mixed financial reports are presently helping USD to acquire over EUR however the momentum is expected to be momentary. The long-term trend is currently bullish due to the ECB hawkish declarations and favorable economic reports published recently.Now let us lookat the technical view. The cost is presently living above the assistance location of 1.1500 to 1.1620. As the spontaneous stage is currently revealing some fatigue and volatility, a retracement to the support location is anticipated in the coming days. If the rate bounces off the support location with a day-to-day close, we will be eagerly anticipating buy with a target towards 1.2140 resistance level in the future. As the rate stays above the assistance area of 1.1500-1.1620, the bullish predisposition is expected to continue further. The material has been provided by InstaForex Business -www.instaforex.com

By | July 31, 2017

EUR/USD has been impulsively bullish forming a non-volatile trend since it broke above the 115.00 resistance level recently. The Eurozone has posted some upbeat economic reports recently whereas USD is on losing streak amid bad economic reports which can be observed currently in the market. Though there are certain hints of USD expecting a rate hike, EUR seems to dominate further with hawkish ECB statements and positive economic reports. Today the German Retail Sales report was published with an increased value of 1.1% from the previous value of 0.5% which was expected to decrease to 0.1%. The Italian Monthly Unemployment Rate showed a slight decrease to 11.1% from the previous value of 11.3% which was expected to be at 11.2%. The CPI Flash Estimate report was published with an unchanged value at 1.3%, and the Core CPI Flash Estimate report showed a slight increase to 1.2% which was expected to be unchanged at 1.1%. Furthermore, the Italian Prelim CPI report showed a positive result at 0.1% from the previous negative value of -0.1% which was expected to be at 0.0%. Besides, the EU Unemployment Rate report showed a decrease to 9.1% which was expected to be unchanged at 9.2%. There had been good amount of positive economic reports on the EUR side today which put USD under pressure. Speaking about the US news, today the Chicago PMI report was published with worst figure at 58.9 from the previous value of 65.7 which was expected to be at 60.8. At the same time, the Pending Home Sales report showed a positive outcome with an increase to 1.5% from the previous value of -0.7% which was expected to be at 0.9%. The mixed economic reports are currently helping USD to gain over EUR but the momentum is expected to be temporary. The long-term trend is currently bullish due to the ECB hawkish statements and positive economic reports published recently.

Now let us look at the technical view. The price is currently residing above the support area of 1.1500 to 1.1620. As the impulsive phase is currently showing some exhaustion and volatility, a retracement towards the support area is expected in the coming days. If the price bounces off the support area with a daily close, we will be looking forward to buy with a target towards 1.2140 resistance level in the future. As the price remains above the support area of 1.1500-1.1620, the bullish bias is expected to continue further.

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Intraday technical levels and trading suggestions for NZD/USD for July 31, 2017 888011000 110888 Daily Outlook The NZD/USD set has been trending up within the portrayed bullish channel because January 2016. In November 2016, early signs of bullish weakness wererevealed on the chart when the pair cannot record a brand-new high above 0.7400. A bearish breakout of the lower limit of thechannel took place in December 2016. In February 2017, the illustrated short-term drop was started in the depicted supply zone(0.7310-0.7380).A current bullish breakout above the downtrend line took place on May 22. Ever since, the market has actually been bullish as depicted on the chart.The cost zone of 0.7150-0.7230(SUPPLY ZONE in confluence with 61.8%Fibonacci level)stood as a momentary resistance zone until a bullish breakout was revealed above 0.7230. This resulted in a quick bullish advance to the next supply zone around 0.7310-0.7380 which is briefly breached to the upside.Now the cost zone of 0.7310-0.7380 rely on be a newly-established demand zone to be looked for possible bullish rejection and a possible BUY entry if any bearish pullback occurs.The product has actually been supplied by InstaForex Business-www.instaforex.com

By | July 31, 2017

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Daily Outlook

The NZD/USD pair has been trending up within the depicted bullish channel since January 2016.

In November 2016, early signs of bullish weakness were expressed on the chart when the pair failed to record a new high above 0.7400.

A bearish breakout of the lower limit of the channel took place in December 2016.

In February 2017, the depicted short-term downtrend was initiated in the depicted supply zone (0.7310-0.7380).

However, a recent bullish breakout above the downtrend line took place on May 22. Since then, the market has been bullish as depicted on the chart.

The price zone of 0.7150-0.7230 (SUPPLY ZONE in confluence with 61.8% Fibonacci level) stood as a temporary resistance zone until a bullish breakout was expressed above 0.7230.

This resulted in a quick bullish advance towards the next supply zone around 0.7310-0.7380 which is temporarily breached to the upside.

Now the price zone of 0.7310-0.7380 turns to be a newly-established demand zone to be watched for possible bullish rejection and a possible BUY entry if any bearish pullback occurs.

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Intraday technical levels and trading recommendations for EUR/USD for July 31, 2017 888011000 110888 Monthly Outlook In January2015, the EUR/USD pair moved below the major need levels near 1.2100(numerous previous bottoms set in July 2012 and June 2010). For this reason, a long-term bearish target is forecasted towards 0.9450. In March 2015, EUR/USD bears challenged the monthly need level around 1.0500, which had been previously reached in August 1997. In the longer term, the level of 0.9450 will remain a projected target if any regular monthly candlestick achieves bearish closure below the portrayed month-to-month demand level of 1.0500. The EUR/USD pair stays trapped within the illustrated consolidation range (1.0500-1.1450) until a breakout ineither instructions is confirmed on the month-to-month time frame.The existing bullish breakout above 1.1450 permits a quick bullish advance towards 1.1710, 1.1850 and 1.2000. Daily Outlook In January 2017, the previous sag reversed when the Head and Shoulders pattern was developed around 1.0500.Since then, evident bullish momentum has actually been revealed on the chart.As expected, the ongoing bullish momentum allowed the EUR/USD set to pursue additional advance to 1.1415-1.1520(DailySupply Zone). The day-to-day supply zone cannot stop the ongoing bullish momentum. Rather, temporary bullish breakout is being seen on the chart.The nearby supply level to satisfy the pair lies around 1.1720-1.1750 (the greatest level because August 2015)where cost action should be watched for a bearish pullback.On the other hand, the price zone of 1.1415-1.1520 stands as a prominent NEED zone to be enjoyed if a bearish pullback occurs.The material has been provided by InstaForex Company-www.instaforex.com

By | July 31, 2017

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Monthly Outlook

In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target is projected toward 0.9450.

In March 2015, EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August 1997.

In the longer term, the level of 0.9450 will remain a projected target if any monthly candlestick achieves bearish closure below the depicted monthly demand level of 1.0500.

The EUR/USD pair remains trapped within the depicted consolidation range (1.0500-1.1450) until a breakout in either direction is confirmed on the monthly time frame.

The current bullish breakout above 1.1450 allows a quick bullish advance towards 1.1710, 1.1850 and 1.2000.

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Daily Outlook

In January 2017, the previous downtrend reversed when the Head and Shoulders pattern was established around 1.0500. Since then, evident bullish momentum has been expressed on the chart.

As anticipated, the ongoing bullish momentum allowed the EUR/USD pair to pursue further advance towards 1.1415-1.1520 (Daily Supply Zone).

The daily supply zone failed to stop the ongoing bullish momentum. Instead, temporary bullish breakout is being witnessed on the chart.

The nearest supply level to meet the pair is located around 1.1720-1.1750 (the highest level since August 2015) where price action should be watched for a bearish pullback.

On the other hand, the price zone of 1.1415-1.1520 stands as a prominent DEMAND zone to be watched if a bearish pullback occurs.

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

Everyday analysis of USD/JPY for July 31, 2017 888011000 110888 Introduction The USD/JPY set continues its decrease strongly after validating breaking 110.98 level, to approach from our main waited target at 110.15 now, noting that this level represents 76.4%Fibonacci correction level for the increase measured from 108.80 to 114.49, which indicates that breaking it will put the price under more unfavorable pressure on the longer term basis and turns the main pattern to the drawback. The EMA50 keeps pushing adversely on the cost, and as long as the rate is below 112.32, we suggest the extension of the bearish trend in the approaching period, noting that breaking 110.15 will press the cost towards 108.80 as a next primary station, while breaching 110.98 will lead the price to start recovery efforts that target 112.32 areas initially. The anticipated trading variety for today is in between 109.50 support and 111.00 resistance. The product has been offered by InstaForex Company-www.instaforex.com

By | July 31, 2017

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Overview

The USD/JPY pair continues its decline strongly after confirming breaking 110.98 level, to approach from our main waited target at 110.15 now, noting that this level represents 76.4% Fibonacci correction level for the rise measured from 108.80 to 114.49, which means that breaking it will put the price under more negative pressure on the longer term basis and turns the main trend to the downside. The EMA50 keeps pushing negatively on the price, and as long as the price is below 112.32, we suggest the continuation of the bearish trend in the upcoming period, noting that breaking 110.15 will push the price towards 108.80 as a next main station, while breaching 110.98 will lead the price to start recovery attempts that target 112.32 areas initially. The expected trading range for today is between 109.50 support and 111.00 resistance.

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

Everyday analysis of GBP/JPY for July 31, 2017 888011000 110888 Introduction The GBP/JPY set was forced to provide intraday sideways trading due to forming new support at 144.85, to block the waited unfavorable release, while the stability of this support allows us to anticipate to form intraday bullish rebound to move towards 147.60 resistance followed by keeping track of the price behavior due to the importance of this level to discover the next pattern. We will expect the bullish predisposition in the near term duration, noting that attempting to break the existing support will push the rate back to the primary bearish track, expecting tosuffer more losses that start at 143.30 and extend to 141.60. The anticipated trading range for today is between 146.40 and 144.85. The material has been supplied by InstaForex Company -www.instaforex.com

By | July 31, 2017

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Overview

The GBP/JPY pair was forced to provide intraday sideways trading due to forming new support at 144.85, to block the waited negative release, while the stability of this support allows us to expect to form intraday bullish rebound to move towards 147.60 resistance followed by monitoring the price behavior due to the importance of this level to detect the next trend. Therefore, we will expect the bullish bias in the near term period, noting that attempting to break the current support will push the price back to the main bearish track, expecting to suffer more losses that start at 143.30 and extend to 141.60. The expected trading range for today is between 146.40 and 144.85.

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

Day-to-day analysis of Gold for July 31, 2017 888011000 110888 Overview Gold cost resumed its favorable trading affected by the formerly completed inverted head and shoulders’ pattern, and the price gets constant positive assistance by the EMA50, enhancing the expectations of continuing the bullish pattern on the short-term basis, as our next target lies at 1295.37, while the full target of the mentioned pattern lies at 1312.00. For that reason, we will keep our bullish overview for the approaching duration conditioned by holding above 1254.56, noting that breaking this level will push the cost to check 1229.32 and may extend to 1215.00 locations mainly. The anticipated trading variety for today is in between 1260.00 support and 1285.00 resistance. The materialhas actually been offered by InstaForex Company-www.instaforex.com

By | July 31, 2017

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Overview

Gold price resumed its positive trading affected by the previously completed inverted head and shoulders’ pattern, and the price gets continuous positive support by the EMA50, reinforcing the expectations of continuing the bullish trend on the short term basis, as our next target is located at 1295.37, while the full target of the mentioned pattern is located at 1312.00. Therefore, we will keep our bullish overview for the upcoming period conditioned by holding above 1254.56, noting that breaking this level will push the price to test 1229.32 and might extend to 1215.00 areas mainly. The expected trading range for today is between 1260.00 support and 1285.00 resistance.

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

Oil Bulls Came Alive In July

By | July 31, 2017

Petroleum futures were little bit changed Monday morning after spiking above $49 a barrel last week.

Rates sped up higher last week when the Company of the Petroleum Exporting Countries and partners including Russia accepted decrease output by about 1.8 million barrels daily (bpd) up until March 2018. The majority of the production cuts are being taken on by Saudi Arabia, but others such as Nigeria are anticipated to comply moving on.

With U.S. production perhaps slowing and OPEC identified to re-balance oil markets, analysts say crude oil ought to hang around $50 a barrel for the year.

Analysts surveyed by Reuters anticipated U.S. light crude would balance $50.08 a barrel in 2017, down from $51.92 in June’s forecast.

WTI light sweet petroleum was at $49.02 a barrel today, having actually gotten about 8% in July, the best month-to-month gain in oil rates in 2017.

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Pound Recuperates Versus Majors

By | July 31, 2017

The pound came off from its early lows against its key equivalents in the European session on Monday.

The pound bounced off to 0.8933 versus the euro, 1.3132 versus the greenback and 1.2746 versus the franc, from its early lows of 0.8966, 1.3097 and 1.2673, respectively.

The pound that fell to a 6-day low of 144.82 versus the yen at 5:40 am ET reversed instructions and was trading at 145.16.

The next possible resistance for the pound is seen around 146.00 versus the yen, 1.28 versus the franc, 0.88 against the euro and 1.34 versus the greenback.

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