Treasuries Close A little Higher Following Choppy Trading Session

By | June 23, 2017

Treasuries showed an absence of direction over the course of trading day on Friday prior to ending the session a little greater.

After investing the day getting better and forth throughout the unchanged line, bond prices transferred to the benefit entering into the close. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its cost, edged down by nearly a basis indicate 2.144 percent.

The choppy trading seen for most of the day extended the uninspired performance seen in the previous session, as traders remained reluctant to make substantial relocations.

Traders largely shook off a report from the Commerce Department showing a rebound in brand-new house sales in the month of Might.

The Commerce Department stated brand-new house sales climbed by 2.9 percent to a yearly rate of 610,000 in Might from the upwardly revised April rate of 593,000.

Economic experts had expected brand-new house sales to jump by 5.4 percent to a rate of 600,000 from the 569,000 originally reported for the previous month.

Economic data might draw in attention next week, with traders likely to watch on reports on durable products orders, consumer confidence, and personal income and costs.

Bond trading could also be impacted by the outcomes of the Treasury Department’s auction of two-year note, seven-year and five-year notes.

The Treasury stated it prepares to offer $26 billion worth of two-year notes next Monday, $34 billion worth of five-year notes next Tuesday and $28 billion worth of seven-year notes next Wednesday.

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Crude Oil Inches Approximately $43 After Yearly Low

By | June 23, 2017

Crude oil futures cut high recent losses with a modest everyday gain Friday, as another increase in the United States rig count avoided a sustained rally.

Baker Hughes said U.S. drillers included 11 oil well this week, the greatest boost in three weeks. The rig count has increased 23 weeks in a row, the longest streak on record.

U.S. West Texas Intermediate crude (WTI) rose 27 cents, or 0.63 percent, to settle at $43.01 a barrel, inching up from Wednesday’s 10-month lows.

Mohammed al-Shatti, a deputy chairman of the Kuwait Petroleum Corp., told the official Kuwait News Agency that oil will hover near $50 a barrel for the time being.

“This plan has cannot notch up the supreme goal of rebalancing the oil market, generally due to the unwillingness of OPEC and non-OPEC producers to cut oil output,” he told the Kuwaiti news.

In financial news, the Commerce Department stated new home sales climbed by 2.9 percent to an annual rate of 610,000 in Might from the upwardly revised April rate of 593,000. Economic experts were expecting a bigger increase.

A first reading of producing getting managers index was up to a nine-month low in June. The IHS Markit making index was up to a reading of 52.1 in June from 52.7 in May.

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Technical analysis of USD/JPY for June 23, 2017 888011000 110888 We will retain our yesterday’s target of USD/JPY. Although the pair broke and published a rebound above the 50-period moving average, it is still trading below the key resistance at 111.45 (the low of June 22 ), which should restrict the upside capacity. The relative strength index is blended with bearish predisposition. As long as 111.45 is not gone beyond, look for a further drop to 110.80 and even to 110.60 in extension. Alternatively, if the price relocations in the opposite instructions as forecasted, a long position is suggested above 111.45 with targets at 111.75 and 112.10. Chart Explanation: The black line reveals the pivot point. Today rate above pivot point indicates the bullish position while the price below pivot point shows the brief position. The red lines show the support levels and the green linesuggests the resistance levels. These levels can be used toenter and leave trades.Strategy: PURCHASE, Stop Loss: 111.15, Take Profit: 112.10 Resistance levels: 111.75, 112.10, and 112.50 Support levels: 110.85,110.60, and 110.35 The material has actually been provided by InstaForex Company-www.instaforex.com

By | June 23, 2017

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We will retain our yesterday’s target of USD/JPY. Although the pair posted a rebound and broke above the 50-period moving average, it is still trading below the key resistance at 111.45 (the low of June 22), which should limit the upside potential. The relative strength index is mixed with bearish bias.

Hence, as long as 111.45 is not surpassed, look for a further drop to 110.80 and even to 110.60 in extension.

Alternatively, if the price moves in the opposite direction as predicted, a long position is recommended above 111.45 with targets at 111.75 and 112.10.

Chart Explanation: The black line shows the pivot point. The present price above pivot point indicates the bullish position while the price below pivot point indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy : BUY, Stop Loss: 111.15, Take Profit: 112.10

Resistance levels: 111.75, 112.10, and 112.50

Support levels: 110.85,110.60, and 110.35

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

Technical analysis of USD/CHF for June 23, 2017 888011000 110888 Our USD/CHF yesterday disadvantage target has been struck. It is still expected that set will move further downward, and we are going to keep our down target at 0.9680. The set is topped by a bearish trend line since June 20, which confirmed a negative outlook. The relative strength index is bearish and calls for a more downside. On the economic front, The U.S. Labor Department reported that preliminary out of work claims increased 3,000 to a seasonally changed 241,000 in the week ended June 17, compared to 240,000 expected. To sum up, as long as 0.9750 is not exceeded, try to find a brand-new decline to 0.9680 as well as to 0.9655 in extension. Chart Explanation: The black line reveals the pivot point, present rate above pivot point indicates the bullish position and listed below pivot points suggests the brief position. The red lines show the support levels and the green lineindicates the resistance levels. These levels can be utilized to enter and exit trades.Strategy: SELL, Stop Loss: 0.9725, Take Revenue: 0.9680 Resistance levels: 0.9750, 0.9770, and 0.9790 Support levels: 0.9680, 0.9655, and 0.9600 The material has been offered by InstaForex Company-www.instaforex.com

By | June 23, 2017

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Our USD/CHF yesterday downside target has been hit. It is still expected that pair will move further downward, and we are going to keep our downward target at 0.9680. The pair is capped by a bearish trend line since June 20, which confirmed a negative outlook. The relative strength index is bearish and calls for a further downside.

On the economic front, The U.S. Labor Department reported that initial jobless claims increased 3,000 to a seasonally adjusted 241,000 in the week ended June 17, compared with 240,000 expected.

To sum up, as long as 0.9750 is not surpassed, look for a new decline to 0.9680 and even to 0.9655 in extension.

Graph Explanation: The black line shows the pivot point, present price above pivot point indicates the bullish position and below pivot points indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: SELL, Stop Loss: 0.9725, Take Profit: 0.9680

Resistance levels: 0.9750, 0.9770, and 0.9790

Support levels: 0.9680, 0.9655, and 0.9600

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

Technical analysis of GBP/JPY for June 23, 2017 888011000 110888 GBP/JPY is expected to trade in a greater variety as bullish bias remains. The pair published a rebound and broke above both 50-period and 20-period moving averages. The relative strength index lacks down momentum. The drawback potential must be limited by the essential support at 140.85. As long as this key level holds on the drawback, look for a brand-new upside to 142.30 and even to 142.70 in extension. Alternatively, if the cost relocations in the opposite instructions as predicted, a brief position is recommended below 140.85 with the target at 140.40. Chart Explanation: the black line shows the pivot point. The cost above pivot point suggests the bullish position when it is listed below pivot points, it shows the brief position. Thered lines reveal the support levels and the green line shows the resistance levels. These levels can be used to go into and leave trades.Strategy: PURCHASE, Stop Loss: 140.85, Take Profit: 142.30. Resistance levels: 142.30, 142.70, and 143.45 Support levels: 140.40, 139.80, and 139 The product has actually been offered by InstaForex Business -www.instaforex.com

By | June 23, 2017

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GBP/JPY is expected to trade in a higher range as bullish bias remains. The pair posted a rebound and broke above both 20-period and 50-period moving averages. The relative strength index lacks downward momentum. The downside potential should be limited by the key support at 140.85.

Therefore, as long as this key level holds on the downside, look for a new upside to 142.30 and even to 142.70 in extension.

Alternatively, if the price moves in the opposite direction as predicted, a short position is recommended below 140.85 with the target at 140.40.

Chart Explanation: the black line shows the pivot point. The price above pivot point indicates the bullish position and when it is below pivot points, it indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, Stop Loss: 140.85, Take Profit: 142.30.

Resistance levels: 142.30, 142.70, and 143.45

Support levels: 140.40, 139.80, and 139

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

Analysis of gold for June 23, 2017 888011000 110888 Just recently, gold has actually been trading upwards. The cost tested the level of$1,258.00. Anyhow, inning accordance with the 30M time frame, I discovered a weather action followed by no demand bars, which is an indication that buying looks dangerous. The rate likewise tested upper diaognal of channel, which is another sign of possible wekaness. Mysuggestions is to look for prospective sellingchances. The downward targets are set at $1,247.00 and$1,243.00. Resistance levels: R1:$1,254.30 R2: $1,256.50 R3:$1,260.00 Assistance levels: S1: $1,247.00 S2:$1,245.00 S3:$1,241.00 Trading recommendations for today: look for possible selling opportunities.The product has been offered by InstaForex Company -www.instaforex.com

By | June 23, 2017

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Recently, gold has been trading upwards. The price tested the level of $1,258.00. Anyway, according to the 30M time frame, I found a climatic action followed by no demand bars, which is a sign that buying looks risky. The price also tested upper diaognal of channel, which is another sign of potential wekaness. My advice is to watch for potential selling opportunities. The downward targets are set at $1,247.00 and $1,243.00.

Resistance levels:

R1: $1,254.30

R2: $1,256.50

R3: $1,260.00

Support levels:

S1: $1,247.00

S2: $1,245.00

S3: $1,241.00

Trading recommendations for today: watch for potential selling opportunities.

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

Analysis of GBP/USD for June 23, 2017 888011000 110888 Just recently, the GBP/USD pair has been trading upwards. The rate evaluated the level of 1.2744. Anyway, inning accordance with the 30M amount of time, I discovered climax action followed by no demand bars, which is an indication that purchasing looksrisky. My recommendations is to expect prospective selling chances. The downward targets are set at 1.2653 and 1.2640. Resistance levels: R1: 1.2700 R2: 1.2715 R3: 1.2740 Assistance levels: S1: 1.2660 S2: 1.2635 S3: 1.2615 Trading suggestions for today: expect possible selling opportunities.The product has actually been supplied by InstaForex Company-www.instaforex.com

By | June 23, 2017

analytics594d04221ba99.png

Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2744. Anyway, according to the 30M time frame, I found climax action followed by no demand bars, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward targets are set at 1.2653 and 1.2640.

Resistance levels:

R1: 1.2700

R2: 1.2715

R3: 1.2740

Support levels:

S1: 1.2660

S2: 1.2635

S3: 1.2615

Trading recommendations for today: watch for potential selling opportunities.

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

Taiwan Industrial Output Rebounds More Than Expected

By | June 23, 2017

Taiwan’s commercial production increased at a faster-than-expected rate in May, after falling in the previous month, initial figures from the Ministry of Economic Affairs revealed Friday.

Industrial production climbed 0.78 percent year-over-year in May, reversing a 0.15 percent drop in April. Economists had actually expected a 0.5 percent increase for the month.

Among sectors, making production grew 2.2 percent each year in May, while mining and quarrying output declined by 8.18 percent.

On a regular monthly basis, commercial production increased a seasonally adjusted 0.15 percent in May, in contrast to a 1.99 percent fall in April.

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