Monthly Archives: August 2018

Oil Futures End Lower

By | August 31, 2018

Petroleum prices alleviated slightly on Friday after moving in a really tight variety, as traders weighed recent oil supply and need reports and mostly remained wary of building up positions amidst escalating trade war tensions.

A report launched by Baker Hughes, the oilfield services firm, said U.S. oil drilling rigs count increased by two to 862 this week.

It is widely expected that demand for crude will drop due to U.S.-China trade dispute. The U.S. sanctions on Iranian oil may significantly minimize worldwide unrefined supplies and limit crude’s downside.

Inning accordance with reports, crude oil and condensate exports from Iran may have dropped below 2.25 million barrels a day in August, making it a 3rd straight month of decreases.

Petroleum futures for October delivery ended down $0.45, or 0.6%, at $69.80 a barrel on the New york city Mercantile Exchange. For the week, petroleum futures acquired about 1.6% and in the month of August, unrefined futures acquired about 3.2%.

U.S. crude inventories fell by 2.566 million barrels to 405.8 million barrels in the week ended August 24, inning accordance with the data launched by the Energy Info Administration previously in the week.

The report from EIA also showed imports fell by about 0.657 million barrels daily, while exports rose by 0.624 million barrels per day. The EIA estimates for US production were unchanged for the week ending August 24, balancing 11 million bpd once again.

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Gold Snaps 3-day Losing Streak, Ends Decently Greater

By | August 31, 2018

Gold costs edged higher on Friday with traders lapping up the yellow metal amidst mounting worries about the continuous trade war in between the United States and China, the two biggest economies on the planet.

On the other hand, Canadian and U.S. officials are working out to modernize the North American Free Trade Arrangement. The United States President Donald Trump, who set a Friday deadline for the three countries (U.S., Mexico and Canada) to reach an in-principle arrangement, has actually alerted that if Canada and U.S. could not reach an offer, more tariffs on imports of Canadian vehicles will be enforced by his administration. Mexico and the U.S. had actually revealed a bilateral deal earlier this week.

According to reports, Canada’s federal government officials have actually expressed issue that it may not be possible to work out a last North American Open market Contract pact prior to the Friday due date set by Trump.

With trade stress escalating day by day and the Sino-US dispute threatening to appear into a full-blown trade war, gold seems gradually returning on track to obtain back its safe house status.

Gold futures for December wound up $1.70, or 0.1%, at $1,206.70 an ounce. On Thursday, gold futures ended down $6.50, or 0.5%, at $1,205 an ounce.

Gold futures shed about 0.5% in the week, and 2.2% in August, signing up losses for a 5th straight month.

Silver futures for December ended down $0.037, at $14.557 an ounce, while Copper futures settled at $2.6710 per pound, down $0.0465 from previous close.

In an interview with Bloomberg News on Thursday, the United States President Donald Trump threatened that his administration means to continue with strategies to enforce tariffs on $200 billion in Chinese imports as early as next week.

Trump’s hazard that U.S. would take out from the World Trade Company and his remarks that European trade policies were “practically as bad as China,” have actually raised fresh issues over souring trade relations.

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Dollar Trading Mixed As Vacation Weekend Approaches

By | August 31, 2018

The dollar is kipping down a mixed efficiency against its significant rivals Friday afternoon. The dollar is up against the Euro and the British pound, however has not fully recuperated from its early weak point versus the Japanese Yen.

Traders stay focused on trade concerns ahead of the long vacation weekend. President Donald Trump cautioned that he might pull the United States from the World Trade Company

Trump claimed he would leave the worldwide trading group if it does not deal with the U.S. much better, making it the latest arrangement to be targeted as part of the president’s “America First” trade technique.

“If they don’t form up, I would withdraw from the WTO,” Trump informed Bloomberg News in an Oval Office interview on Thursday.

Inning accordance with Trump, the treaty establishing the trade body was “the single worst trade deal ever made.”

Traders are also in a careful mood ahead of a deadline for U.S. and Canadian authorities to reach a new NAFTA contract.

Development in Chicago-area business activity slowed in the month of August, according to a report released by MNI Indicators on Friday. MNI Indicators stated its Chicago organisation barometer dipped to 63.6 from a modified 65.5 in July, although a reading above 50 still shows growth. Economists had expected the index to fall to 63.0.

The dollar has climbed to around $1.16 against the Euro Friday afternoon, from an early low of $1.1689.

Eurozone inflation moderated in August from a more than five-year high level, flash data from Eurostat exposed Friday. Inflation reduced to 2 percent from 2.1 percent in July. The annual rate was expected to stay at 2.1 percent, which was the greatest because December 2012.

The Eurozone unemployment rate remained the same in July, at the lowest considering that late 2008, Eurostat said Friday.

The out of work rate stood at 8.2 percent, the exact same rate as seen in June, and in line with expectations, but down from 9.1 percent in July 2017. This was the most affordable rate taped in the euro location because November 2008.

Germany’s retail sales development relieved more than anticipated in July, figures from Destatis showed Friday. Retail sales increased 0.8 percent year-on-year in July, slower than the 2.7 percent increase in June. Sales were expected to grow 1.3 percent. Nonetheless, this was the second successive boost.

France’s customer costs grew at a steady rate in August, provisional quote from Insee showed Friday. Consumer price inflation can be found in at 2.3 percent, the exact same rate as registered in July. Inflation was forecast to alleviate to 2.2 percent. Final information is due on September 13.

The buck moved to an early low of $1.3028 versus the pound sterling Friday, but has given that recuperated to around $1.2965.

UK house prices decreased at the fastest speed considering that mid-2012 in August, the Nationwide Building Society said Friday. Home rates fell 0.5 percent on a month-to-month basis in August, in contrast to a 0.7 percent increase in July. This was the very first drop in three months and the biggest month-to-month fall considering that July 2012.

The greenback dropped to a low of Y110.684 against the Japanese Yen Friday early morning, but has given that rebounded to around Y110.925.

The unemployment rate in Japan can be found in at a seasonally adjusted 2.5 percent in July, the Ministry of Internal Affairs and Communications said on Friday. That went beyond expectations for 2.4 percent, which would have been the same from the June reading.

Commercial production in Japan dipped a seasonally adjusted 0.1 percent on month in July, the Ministry of Economy, Trade and Market said in Friday’s preliminary reading. That missed projections for a gain of 0.2 percent following the 1.8 percent drop in June.

Japan’s housing starts decreased for the second straight month in July, however at a slower-than-expected rate, information from the Ministry of Land, Facilities, Transportation and Tourist revealed Friday.

Housing begins dropped 0.7 percent yearly in July, well below the 7.1 percent sharp reduction in June. Financial experts had actually anticipated a 4.3 percent succumb to the month.

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Canadian Dollar Damages As NAFTA Talks Turn Sour

By | August 31, 2018

The Canadian dollar slipped against its major equivalents in New York deals on Friday, as talks in between the US and Canada over NAFTA failed to fulfill the Friday due date set by U.S. President Donald Trump.

Both the nations were at loggerheads concerning Chapter 19, which would enable Canada to challenge punitive American tariffs on imports prior to binational panels.

Talks in between the United States and Canadian arbitrators reached an important phase today, after the United States and Mexico announced a bilateral offer on Monday.

Sentiment soured after a report from Bloomberg stated President Donald Trump intends to move ahead with plans to enforce tariffs on $200 billion in Chinese imports as early as next week.

Pointing out individuals acquainted with the matter, Bloomberg stated Trump intends to impose the tariffs after a public remark duration ends next Thursday, September 6th.

Bloomberg kept in mind a few of individuals cautioned that Trump hasn’t made his final decision and might enact the tariffs in installments.

The loonie dropped to 84.72 versus the yen, its lowest given that August 22. If the loonie continues its fall, 83.00 is potentially seen as its next assistance level.

Data from the Ministry of Internal Affairs and Communications showed that general customer prices in the Tokyo region climbed 1.2 percent on year in August.

That beat projections for 1.0 percent and was up from 0.9 percent in July. The loonie weakened to a weekly low of 1.3072 versus the greenback from yesterday’s closing value of 1.2980. The loonie is seen tough assistance around the 1.32 area.

The loonie pulled back to 0.9433 against the aussie, from an early more than a 2-year high of 0.9396. On the drawback, 0.97 is likely viewed as the next support level for the loonie.

Data from the Reserve Bank of Australia revealed that Australia’s economic sector credit increased more than expected in July.

Private sector credit climbed a seasonally adjusted 0.4 percent month-over-month in July, following a 0.3 percent increase in June. Economists had anticipated the very same 0.3 percent increase for the month.

The loonie fell back to 1.5203 against the euro, not far from more than a 4-week low of 1.5214 hit at 3:30 am ET. Next crucial assistance for the loonie is most likely seen around the 1.54 level.

Flash data from Eurostat showed that Eurozone inflation moderated in August from a more than five-year high level.

Inflation alleviated to 2 percent from 2.1 percent in July. The yearly rate was expected to remain at 2.1 percent, which was the highest considering that December 2012.

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Chicago Organisation Barometer Indicates Slower Growth In August

By | August 31, 2018

Growth in Chicago-area business activity slowed in the month of August, inning accordance with a report launched by MNI Indicators on Friday.

MNI Indicators said its Chicago business barometer dipped to 63.6 from a revised 65.5 in July, although a reading above 50 still indicates growth. Financial experts had actually expected the index to be up to 63.0.

The report stated the drop by business barometer reflected a softening in supplier shipments, order backlogs and work, which balance out gains in production and new orders,

“The MNI Chicago Service Barometer continues to signal solid business sentiment, despite reducing for the first time in five months, with development in output and demand holding up well,” stated Jamie Satchi, Economic Expert at MNI Indicators.

MNI Indicators said the prices paid indication relieved in August, however remained above the 80-mark for simply the 2nd time since late-2008.

Satchi stated, “Inflationary pressures look set to continue, potentially bleeding into consumer rates, with over 60% of companies reporting that they have actually handed down greater input costs to customers in recent months, and others foreseeing doing so in the near future.”

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Dollar Climbs Up Vs A Lot Of Majors Ahead Of U.S. Customer Sentiment Index

By | August 31, 2018

At 10 am ET Friday, the University of Michigan is set up to release its last report on customer sentiment in the month of August. The customer sentiment index for August is anticipated to be upwardly revised to 95.5 from the initial reading of 95.3, which was down from 97.9 in July.

Ahead of the information, the greenback climbed up versus the franc, the euro and the pound but held constant versus the yen.

The greenback was worth 110.83 versus the yen, 0.9688 versus the franc, 1.2966 against the pound and 1.1632 versus the euro since 9:55 am ET.

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Fractal analysis for significant currency pairs as of August 31 888011000 110888 Dear colleagues.For the currencypair Euro/ Dollar, we continue to keep an eye on the upward structure from August 23 and the upward movement is anticipated after the passage at the price of the sound variety of 1.1719-1.1746. For a Pound/ Dollar currency set, the continuation of the upward movement is possible after passing through the sound range of 1.3045 – 1.3068. For the currency set Dollar/ Franc, we continue to move down after the passage of the variety of 0.9683 – 0.9667 and we think about the movement up as a correction. For the currency pair Dollar/ Yen, the cost remains in correction and forms the capacity for the downward motion from August 29. For the currency pair Euro/ Yen, the cost remains in the correction location from the upward structure and forms the capacity for the bottom of August 29. For the Pound/ Yen currency set, the price remains in the correction zone from the upward trend and the extension of the upward motion is expected after the breakdown of 145.71.Forecast for August 31:Analytical evaluation of currency pairs in the scale of H1: For the EUR/ USD currency set, the essential levels on the scale of H1 are: 1.1817, 1.1794, 1.1746, 1.1719, 1.1660, 1.1630, 1.1582 and 1.1528. Here, we continue to follow the regional upward structure of August 23. At the moment, the price remains in correction. The short-term upward motion is expected in the corridor of 1.1719 -1.1746 and the breakdown of the last worth ought to be accompanied by a noticable movement to the level of 1.1794. The potential worth for the top is the level of 1.1817, after which we anticipate consolidation.The short-term downward movement is possible in the passage of 1.1660-1.1630 and the breakdown of the last value will lead to an extensive correction.Here, the target is 1.1582 and this level is the support for the top.The primary pattern is the local structure of August 23. Trading suggestions: Buy 1.1720 Take earnings: 1.1744 Buy1.1747 Take profit: 1.1792Offer: 1.1660 Take profit: 1.1632 Sell: 1.1628 Take profit: 1.1585 For the Pound/ Dollar currency pair, the crucial levels on the H1 scale are: 1.3115, 1.3068, 1.3045, 1.3006, 1.2981 and 1.2941. Here, we follow the regionalupward structure of August 24. The continued upward movement is expected after travelling through the sound variety of 1.3045-1.3068. In this case, the target is 1.3115, from this level we expect a pullback downwards.The short-term downward motion is possiblein the corridor of 1.3006-1.2981 and the breakdown of the last worth will lead to a thorough correction. Here, the target is 1.2941and this level is thekey assistance for the top.The main trend is a regional structure for the top of August 24. Trading suggestions: Purchase: 1.3068 Take earnings: 1.3113 Buy: Take profit: Sell: 1.3005 Take profit: 1.2982 Sell: 1.2979 Take profit: 1.2941 For the currency pair Dollar/ Franc, the essential levels on the scale of H1 are: 0.9774, 0.9748, 0.9729, 0.9713, 0.9683, 0.9667 and 0.9643. Here, we continue to follow the local top-down cycle of August 23. The short-term downtrend is possible in the series of 0.9683 -0.9667 and the breakdown of the last value will result in an extensive correction. Here, the target is 0.9643, from this level we anticipate the movement to correction.The short-term upward motion is possible in the corridor of 0.9713 -0.9729 and the breakdown of the last worth will lead to an in-depth correction. Here, the target is 0.9748 and the breakdown of which will in turn allow to count on the formation of the potentialfor the top. Here, the targetis 0.9774. The main pattern is the regional structure for the bottom of August 23. Trading recommendations: Purchase: 0.9713 Take profit: 0.9726 Buy: 0.9731 Take earnings: 0.9748 Sell: 0.9665 Take revenue: 0.9645 Sell: Take revenue: For the Dollar/ Yen currency set, the key levels on a scale of H1 are: 112.42, 112.13, 111.80, 111.60, 111.01, 110.82 and 110.47. Here, the cost forms the capacity for the bottom of August 29 in the correction of the ascending structure. The short-term upward motion is expected in the passage of 111.60- 111.80 and the breakdown ofthe last value will cause a pronounced motion. In this case, the target is 112.13. We consider the level of 112.42 to be a potential worth for the top, after which we expect combination, along with a pullback to the bottom.The short-term downward motion is possible in the passage of 111.01 -110.82 and the breakdown ofthe last value will result in an extensive correction. Here, the target is 110.47and this level is the key assistance for the upward structure.The main trend: the upward structure of August 21, the correction stage.Trading recommendations: Purchase: 111.60 Take earnings: 111.80 Purchase: 111.83 Take earnings: 112.12 Sell: 111.00 Take revenue: 110.83 Offer: 110.80 Take profit: 110.50 For the Canadian Dollar/ Dollar currency set, the crucial levels on the H1 scale are: 1.3097, 1.3071, 1.3034, 1.3004, 1.2974, 1.2948 and 1.2884. Here, we follow the formation of the upward capacity of August 30. The short-term ascendant is expected in the corridor of 1.3004- 1.3034 and the breakdown of the last worth ought to be accompanied by a pronounced upward movement. Here, the target is 1.3071. The possible value for the top is the level of 1.3097, after which we anticipate consolidation, along with a pullback to the bottom.The short-term down motion is possible in the passage of 1.2974-1.2948 and the breakdown of the last value will need to the developmentof a downward motion. Here, the target is 1.2884. The primary trend is the development of the upwardstructure of August 30. Trading recommendations: Purchase: 1.3004Take revenue: 1.3032 Buy: 1.3036 Take earnings: 1.3070 Sell: 1.2973 Take profit: 1.2950 Sell: 1.2945 Take revenue: 1.2895 For the Australian Dollar/ Dollar currency pair, the essential levels on the scale of H1 are: 0.7318, 0.7295, 0.7275, 0.7238, 0.7208 and 0.7185.Here, we follow the formation of the capacity for the bottom of August 28.The ongoing downward movementis anticipated after the breakdown of 0.7238. In this case, the target is 0.7208, while the potential worth for the down motion is still the level of 0.7185, after which we anticipate consolidation.The main pattern is the formation of a downward structure from August 28. Trading recommendations: Buy: 0.7275 Take earnings: 0.7293 Purchase: 0.7297 Take profit: 0.7316 Sell: 0.7236 Take profit:0.7210 Offer: 0.7206 Take revenue: 0.7186 For the currency pair Euro/ Yen, the crucial levels on the scale of H1 are: 131.32, 130.92, 130.50, 130.06, 129.66, 129.19, 128.66, 128.06 and 127.64. Here, the rate is in correction from the upward structure and forms the potential for the bottom of August 29. The continuation of the motion downwards is anticipated after the breakdown of 129.19. In this case, the target is 128.66 and near this level is the debt consolidation. The breakdown level of 128.64 ought to be accompanied by a pronounced downward movement. Here, the target is 128.06. The prospective value for the bottom is the level of 127.64, near which we anticipate the consolidated movement.The short-term upward motion ispossible in the passage of 129.66-130.06 and the breakdown of the last worthwill lead to an in-depth correction. Here, the target is 130.50and this level is the key resistance for the subsequent advancement of the upwardtrend.The primary pattern is the correction and capability building for the bottom of August 29. Trading suggestions: Purchase: 129.66 Take revenue: 130.00 Buy: 130.08 Take revenue: 130.50 Sell: 129.17 Take revenue: 128.70 Offer: 128.62 Take revenue: 128.09 For the Pound/ Yen currency pair, the essential levels on the scale of H1 are: 147.61, 146.92, 146.35, 145.71, 144.74, 144.31, 143.70 and 143.30. Here, we follow the development of the upward structure of August 15, the existing price remains in correction. The extension of the upward movement is anticipated after the breakdown of 145.71. Here, the target is 146.35 and the breakdown which will result in a short-term upward motion in the variety of 146.35-146.92. Hence, the likelihood of a turn downwards is high. The potential worth for the top is the level of 147.61, upon reaching which we expect a pullback downwards.The consolidated traffic is possible in the passage of 144.74 -144.31 and the breakdown of the last value will cause an in-depth correction. Here, the target is 143.70 andthe range of 143.70-143.30 is thekey support for the top.The primary pattern is themedium-term rising structure from August 15, the correction stage.Trading suggestions: Purchase: 145.71 Take earnings: 146.35 Buy: 146.39 Take revenue: 146.90 Offer: Take profit: Offer: 144.26 Take profit: 143.80 The product has beensupplied by InstaForex Company – www.instaforex.com

By | August 31, 2018

Dear colleagues.

For the currency pair Euro / Dollar, we continue to monitor the upward structure from August 23 and the upward movement is expected after the passage at the price of the noise range of 1.1719 – 1.1746. For a Pound / Dollar currency pair, the continuation of the upward movement is possible after passing through the noise range of 1.3045 – 1.3068. For the currency pair Dollar / Franc, we continue to move downwards after the passage of the range of 0.9683 – 0.9667 and we consider the movement upward as a correction. For the currency pair Dollar / Yen, the price is in correction and forms the potential for the downward movement from August 29. For the currency pair Euro / Yen, the price is in the correction area from the upward structure and forms the potential for the bottom of August 29. For the Pound / Yen currency pair, the price is in the correction zone from the upward trend and the continuation of the upward movement is expected after the breakdown of 145.71.

Forecast for August 31:

Analytical review of currency pairs in the scale of H1:

analytics5b892e0e8265f.png

For the EUR / USD currency pair, the key levels on the scale of H1 are: 1.1817, 1.1794, 1.1746, 1.1719, 1.1660, 1.1630, 1.1582 and 1.1528. Here, we continue to follow the local upward structure of August 23. At the moment, the price is in correction. The short-term upward movement is expected in the corridor of 1.1719 – 1.1746 and the breakdown of the last value should be accompanied by a pronounced movement to the level of 1.1794. The potential value for the top is the level of 1.1817, after which we expect consolidation.

The short-term downward movement is possible in the corridor of 1.1660-1.1630 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.1582 and this level is the support for the top.

The main trend is the local structure of August 23.

Trading recommendations:

Buy 1.1720 Take profit: 1.1744

Buy 1.1747 Take profit: 1.1792

Sell: 1.1660 Take profit: 1.1632

Sell: 1.1628 Take profit: 1.1585

analytics5b892e347bd40.png

For the Pound / Dollar currency pair, the key levels on the H1 scale are: 1.3115, 1.3068, 1.3045, 1.3006, 1.2981 and 1.2941. Here, we follow the local upward structure of August 24. The continued upward movement is expected after passing through the noise range of 1.3045 – 1.3068. In this case, the target is 1.3115, from this level we expect a pullback downwards.

The short-term downward movement is possible in the corridor of 1.3006 – 1.2981 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2941 and this level is the key support for the top.

The main trend is a local structure for the top of August 24.

Trading recommendations:

Buy: 1.3068 Take profit: 1.3113

Buy: Take profit:

Sell: 1.3005 Take profit: 1.2982

Sell: 1.2979 Take profit: 1.2941

analytics5b892e498f36d.png

For the currency pair Dollar / Franc, the key levels on the scale of H1 are: 0.9774, 0.9748, 0.9729, 0.9713, 0.9683, 0.9667 and 0.9643. Here, we continue to follow the local top-down cycle of August 23. The short-term downtrend is possible in the range of 0.9683 – 0.9667 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9643, from this level we expect the movement to correction.

The short-term upward movement is possible in the corridor of 0.9713 – 0.9729 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9748 and the breakdown of which will in turn allow to count on the formation of the potential for the top. Here, the target is 0.9774.

The main trend is the local structure for the bottom of August 23.

Trading recommendations:

Buy: 0.9713 Take profit: 0.9726

Buy: 0.9731 Take profit: 0.9748

Sell: 0.9665 Take profit: 0.9645

Sell: Take profit:

analytics5b892e5c030f3.png

For the Dollar / Yen currency pair, the key levels on a scale of H1 are: 112.42, 112.13, 111.80, 111.60, 111.01, 110.82 and 110.47. Here, the price forms the potential for the bottom of August 29 in the correction of the ascending structure. The short-term upward movement is expected in the corridor of 111.60 – 111.80 and the breakdown of the last value will lead to a pronounced movement. In this case, the target is 112.13. We consider the level of 112.42 to be a potential value for the top, after which we expect consolidation, as well as a pullback to the bottom.

The short-term downward movement is possible in the corridor of 111.01 – 110.82 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 110.47 and this level is the key support for the upward structure.

The main trend: the upward structure of August 21, the correction stage.

Trading recommendations:

Buy: 111.60 Take profit: 111.80

Buy: 111.83 Take profit: 112.12

Sell: 111.00 Take profit: 110.83

Sell: 110.80 Take profit: 110.50

analytics5b892e6b1b854.png

For the Canadian Dollar / Dollar currency pair, the key levels on the H1 scale are: 1.3097, 1.3071, 1.3034, 1.3004, 1.2974, 1.2948 and 1.2884. Here, we follow the formation of the upward potential of August 30. The short-term ascendant is expected in the corridor of 1.3004 – 1.3034 and the breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 1.3071. The potential value for the top is the level of 1.3097, after which we expect consolidation, as well as a pullback to the bottom.

The short-term downward movement is possible in the corridor of 1.2974 – 1.2948 and the breakdown of the last value will have to the development of a downward movement. Here, the target is 1.2884.

The main trend is the formation of the upward structure of August 30.

Trading recommendations:

Buy: 1.3004 Take profit: 1.3032

Buy: 1.3036 Take profit: 1.3070

Sell: 1.2973 Take profit: 1.2950

Sell: 1.2945 Take profit: 1.2895

analytics5b892e7b7c69f.png

For the Australian Dollar / Dollar currency pair, the key levels on the scale of H1 are: 0.7318, 0.7295, 0.7275, 0.7238, 0.7208 and 0.7185. Here, we follow the formation of the potential for the bottom of August 28. The continued downward movement is expected after the breakdown of 0.7238. In this case, the target is 0.7208, while the potential value for the downward movement is still the level of 0.7185, after which we expect consolidation.

The main trend is the formation of a downward structure from August 28.

Trading recommendations:

Buy: 0.7275 Take profit: 0.7293

Buy: 0.7297 Take profit: 0.7316

Sell: 0.7236 Take profit: 0.7210

Sell: 0.7206 Take profit: 0.7186

analytics5b892e8b03053.png

For the currency pair Euro / Yen, the key levels on the scale of H1 are: 131.32, 130.92, 130.50, 130.06, 129.66, 129.19, 128.66, 128.06 and 127.64. Here, the price is in correction from the upward structure and forms the potential for the bottom of August 29. The continuation of the movement downwards is expected after the breakdown of 129.19. In this case, the target is 128.66 and near this level is the consolidation. The breakdown level of 128.64 should be accompanied by a pronounced downward movement. Here, the target is 128.06. The potential value for the bottom is the level of 127.64, near which we expect the consolidated movement.

The short-term upward movement is possible in the corridor of 129.66 – 130.06 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 130.50 and this level is the key resistance for the subsequent development of the upward trend.

The main trend is the correction and capacity building for the bottom of August 29.

Trading recommendations:

Buy: 129.66 Take profit: 130.00

Buy: 130.08 Take profit: 130.50

Sell: 129.17 Take profit: 128.70

Sell: 128.62 Take profit: 128.09

analytics5b892e9c8f583.png

For the Pound / Yen currency pair, the key levels on the scale of H1 are: 147.61, 146.92, 146.35, 145.71, 144.74, 144.31, 143.70 and 143.30. Here, we follow the development of the upward structure of August 15, the current price is in correction. The continuation of the upward movement is expected after the breakdown of 145.71. Here, the target is 146.35 and the breakdown of which will lead to a short-term upward movement in the range of 146.35 – 146.92. Hence, the probability of a turn downwards is high. The potential value for the top is the level of 147.61, upon reaching which we expect a pullback downwards.

The consolidated traffic is possible in the corridor of 144.74 – 144.31 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 143.70 and the range of 143.70 – 143.30 is the key support for the top.

The main trend is the medium-term ascending structure from August 15, the correction stage.

Trading recommendations:

Buy: 145.71 Take profit: 146.35

Buy: 146.39 Take profit: 146.90

Sell: Take profit:

Sell: 144.26 Take profit: 143.80

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