Elliott wave analysis of EUR/NZD for August 15, 2017 888011000 110888 Wave summary: There actually is very little to include here. We continue to try to find small assistance near 1.6040 to be able to protect the downside for a break above 1.6236 verifying extension greater towards 1.6969 as the next upside target.A break listed below 1.6040 could extend the correction from 1.6236 closer to1.5921 and maybeeven 1.5830(less likely), but it must just bea matter of time prior to the next impulsive rally is seen.R3: 1.6470R2: 1.6300 R1:1.6236 Pivot: 1.6200 S1: 1.6100 S2: 1.6040 S3: 1.5921 Trading recommendation: We are long EUR from 1.5510 with stop put at 1.5910. If you are not long EUR yet, then buy near 1.6040 and use the very same stop at 1.5910. The material has actually been offered by InstaForex Company-www.instaforex.com

By | August 15, 2017

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Wave summary:

There really is not much to add here. We continue to look for minor support near 1.6040 to be able to protect the downside for a break above 1.6236 confirming continuation higher towards 1.6969 as the next upside target.

A break below 1.6040 could extend the correction from 1.6236 closer to 1.5921 and maybe even 1.5830 (less likely), but it should just be a matter of time before the next impulsive rally is seen.

R3: 1.6470

R2: 1.6300

R1: 1.6236

Pivot: 1.6200

S1: 1.6100

S2: 1.6040

S3: 1.5921

Trading recommendation:

We are long EUR from 1.5510 with stop placed at 1.5910. If you are not long EUR yet, then buy near 1.6040 and use the same stop at 1.5910.

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

Elliott wave analysis of EUR/JPY for August 15, 2017 888011000 110888 Wave summary: We continue to choose another decrease closer to 125.08 to finish this X-wave. As soon as this X-wave is complete a new zig-zag rally higher to 137.36 is anticipated to finish the D-wave of the big triangle debt consolidation. That said, the rally of the 128.00 low looks more impulsive in character, than we like and we have to think about the possibility that the X-wave completed already with this test. If this is the case, then we should break clearly above short-term important resistance at 130.55 includingself-confidencein this alternate count, which willcall for a directrally above131.40 to 137.36. R3: 131.12 R2:130.55 R1: 130.00 Pivot: 129.70 S1: 129.30 S2: 128.89 S3: 128.50 Trading recommendation: We have sold EUR at 129.70 and will position stop +reverse of this position at 130.70. The material has actually been offered by InstaForex Company-www.instaforex.com

By | August 15, 2017

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Wave summary:

We continue to prefer one more decline closer to 125.08 to complete this X-wave. Once this X-wave is complete a new zig-zag rally higher towards 137.36 is expected to complete the D-wave of the large triangle consolidation.

That said, the rally of the 128.00 low looks more impulsive in character, than we like and we have to consider the possibility that the X-wave completed already with this test. If this is the case, then we should break clearly above short-term important resistance at 130.55 adding confidence in this alternate count, which will call for a direct rally above 131.40 towards 137.36.

R3: 131.12

R2: 130.55

R1: 130.00

Pivot: 129.70

S1: 129.30

S2: 128.89

S3: 128.50

Trading recommendation:

We have sold EUR at 129.70 and will place stop + reverse of this position at 130.70.

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

Technical analysis of EUR/USD for Aug 15, 2017 888011000 110888 When the European market opens, some Economic Data will be launched, such as German Prelim GDP q/q. The United States will release the Economic Data, too, such as TIC Long-Term Purchases, NAHB Real estate Market Index, Service Stocks m/m, Import Prices m/m, Empire State Manufacturing Index, Retail Sales m/m, and Core Retail Sales m/m, so, amidst the reports, EUR/USD will relocate a low to mediumvolatility throughout this day.TODAY’S TECHNICALLEVEL: Breakout BUYLevel: 1.1832.Strong Resistance:1.1825. Original Resistance: 1.1813. Inner Offer Location: 1.1801.Target Inner Location: 1.1774.Inner Buy Location: 1.1746. Initial Support: 1.1734. Strong Support: 1.1722. Breakout SELL Level: 1.1715. Disclaimer: Trading Forex(foreign exchange)on margin carries a high level of threat, and may not appropriate for all investors. The high degree of utilize can work versus you in addition to for you. Prior to deciding to invest in forex you must carefully consider your investment objectives, level of experience, and danger cravings. The possibility exists that you might sustain a loss of some or all of your preliminary investment and therefore you must not invest money that you can not pay for to lose. You should be aware of all the threats associated with foreign exchange trading, and seek advice from an independent financial consultant if you have any doubts.The product has actually been provided by InstaForex Business-www.instaforex.com

By | August 15, 2017

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When the European market opens, some Economic Data will be released, such as German Prelim GDP q/q. The US will release the Economic Data, too, such as TIC Long-Term Purchases, NAHB Housing Market Index, Business Inventories m/m, Import Prices m/m, Empire State Manufacturing Index, Retail Sales m/m, and Core Retail Sales m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY’S TECHNICAL LEVEL:

Breakout BUY Level: 1.1832.

Strong Resistance:1.1825.

Original Resistance: 1.1813.

Inner Sell Area: 1.1801.

Target Inner Area: 1.1774.

Inner Buy Area: 1.1746.

Original Support: 1.1734.

Strong Support: 1.1722.

Breakout SELL Level: 1.1715.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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

VALE: Company To Increase Corporate Governance Level Sooner Than Expected

By | August 15, 2017

The ceo of the Brazilian miner Vale, Fabio Schvartsman, said that the business might enter the Novo Mercado stock market sector – which indicates that the firm will follow the highest standards of business governance available in Brazil – earlier than anticipated.

“We do not have the date yet, but we will do whatever at reach to make it fast. It is possible that it will happen later this year,” the executive said in a teleconference with reporters.

His declaration came after Vale’s investors consented to convert 84.4% of the business’s preferred shares into common shares. Inning accordance with Schvartsman, nobody expected such high level of commitment to the share conversion procedure.

Now, Vale is evaluating what to do with the remaining preferred shares. One possibility would be to hold a brand-new investor conference to convert those stocks. Schvartsman also restated that it would not be necessary to utilize company money to purchase the shares, since investors who did not sign up with the conversion did refrain from doing so due to regulative concerns, such as index funds abroad.

Vale needed a conversion rate of a minimum of 54.09% to proceed with its business restructuring and for changes in business governance, such as those needed to get in the Novo Mercado section.

After the conversion, Valepar – Vale’s controlling shareholder – will combine with and into the mining business. Valepar is formed by Bradesco, Mitsui, BNDESPar and state pension funds, such as Previ. In this method, investors connected to the government will have smaller shares.

Inquired about federal government participation in the company, Schvartsman stated that this problem is “100% solved” which government interference in the business “is a page turned.” “Not that there was disturbance, however the federal government is really welcome as a minority shareholder,” he stated.

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

ARGENTINA: Merval Climbs 4.25% After Cambiemos Primary Election Victory

By | August 15, 2017

Merval, the main index of the Buenos Aires Stock Exchange, rose 4.25% to 22,554.06 points Monday after Sunday’s judgment coalition Cambiemos success in the legal primaries.

A virtual tie between Cambiemos and the oppositionist Unidad Ciudadana, headed by the previous President Cristina Kirchner, in the Province of Buenos Aires, also was cheered by investors.

Outcomes remained in line with market expectations, which considered the result a success for Argentina’s President Mauricio Macri.

“After Sunday’s outcome, Cambiemos became the first political force at the national level. Thus the purchasing ecstasy in the regional equity sector, which was primarily moved to banks, and to service companies,” explained Eduardo Fern?ndez, an expert at Rava Burs?til.

Pampa Energ?a climbed up 8.28% after launching its full quarterly results, reporting a consolidated revenue of 51 million pesos for the second quarter of 2017. Autopistas del Sol got 6.93% after reporting a 74.4 million pesos net earnings, 29.77% higher than in the very same period of 2016.

Agrometal spiked 12.59% after reporting a 24.6 million pesos net profit in the 2nd quarter of 2017, 40.21% greater than compared to the exact same duration of 2016.

On the other hand, the in your area traded US dollar collapsed 3.24%, to 17.13 pesos, after the electoral results confirmation, communicating calm to investors.

“After we knew the outcomes of the main elections the other day, the dollar fell from the beginning, a logical relocation, if we believe that expectations have altered, stabilizing financial markets, and without an intervention of the central bank,” stated ABC Mercado de Cambios’ experts.

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

Gold Still Near $1300 Regardless of Stock Rally

By | August 14, 2017

Gold futures levelled off Monday, but held near 3-month highs regardless of rebounding U.S. stocks.

The DJIA re-claimed 22,000 since lunchtime, denting gold’s safe house appeal.

Stress with North Korea are on the backburner as President Donald Trump handles criticism of his reaction to racial hostilities in the U.S.

Over the weekend, a group of white nationalists encountered counter-protesters. One person was killed and lots hurt.

Gold was down $3 at $1290 per ounce, however silver included a couple of cents to $17.12.

There were no top-tier U.S. economic reports Monday, but retail sales data is out tomorrow.

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

Pound Lower As Chancellor Vows Single Market Withdrawal After Brexit

By | August 14, 2017

The pound traded lower against its major equivalents in the European session on Monday, after an article written by the International Trade Secretary Liam Fox and Chancellor Philip Hammond revealed that the UK will be completely from the single market after the Brexit in 2019.

In an article for the Sunday Telegraph, Liam Fox and Hammond declared that the UK will be “outside the customs union” during the transitional period immediately after the leaving the EU and that any “interim duration” would be time-limited and “can not be a back entrance to remaining in the EU.”

“We will leave the customs union and be totally free to negotiate the very best trade offers all over the world as an independent, open, trading nation,” the article revealed.

“We are both clear that throughout this period the UK will be outside the single market and outside the customizeds union and will be a ‘third-country’ not celebration to EU treaties.”

The pound showed combined performance in the Asian session. While the pound increased against the yen and the franc, it held consistent against the greenback and the euro.

The pound edged down to 142.08 against the yen, off its early 4-day high of 142.74. The next possible assistance for the pound is seen around the 140.00 area.

Data from the Cabinet Office revealed that Japan’s gross domestic product broadened 1.0 percent on quarter in the second 3 months of 2017.

That beat projections for a gain of 0.6 percent following the upwardly modified 0.4 percent increase in the 3 months prior.

The pound reversed from its early high of 1.3022 versus the dollar, dropping to 1.2962. The pound is seen discovering support around the 1.27 mark.

The pound decreased to 0.9098 versus the euro and held steady thereafter. The set ended up Friday’s trading at 0.9085.

Data from Eurostat showed that Eurozone commercial production declined for the first time in 4 months in June.

Industrial production reduced 0.6 percent month-on-month in June, reversing a revised 1.2 percent rise in May. This was the first reduction considering that February, when output moved 0.2 percent.

On the flip side, the pound climbed to a 5-day high of 1.2600 versus the Swiss franc. The pound is likely to discover resistance around the 1.27 area.

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

Technical analysis of USD/JPY for August 14, 2017 888011000 110888 USD/JPY is expected to sell higher variety. The pair published a pullback, it is still trading above its increasing 50-period and 20-period moving averages. The relative strength index is above its neutralitylevel at 50. Although an extension of the consolidation can not be eliminated, its extent needs to be restricted. To sum up, while the rate is above 109.25, search for a more advance to 110.00 as well as to 110.30 in extension. Additionally, if the cost moves in the opposite instructions, a brief position is advised listed below 109.25 with a target at 108.85. Chart Description: The black line reveals the pivot point. The present cost above the pivot point shows a bullish position, while the price below the pivot point is a signal for a brief position.The red lines reveal the assistance levels and the green line suggeststhe resistance level. These levels can be utilizedto exit and go into trades.Strategy: OFFER, Stop Loss: 109.50 , Take Profit: 108.60 Resistance levels: 110.00, 110.30, and 110.55 Support Levels: 108.85, 108.60, 108.25 The product has been supplied by InstaForex Company -www.instaforex.com

By | August 14, 2017

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USD/JPY is expected to trade in higher range. Although the pair posted a pullback, it is still trading above its rising 20-period and 50-period moving averages. The relative strength index is above its neutrality level at 50. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

To sum up, while the price is above 109.25, look for a further advance to 110.00 and even to 110.30 in extension.

Alternatively, if the price moves in the opposite direction, a short position is recommended below 109.25 with a target at 108.85.

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

Strategy: SELL, Stop Loss: 109.50, Take Profit: 108.60

Resistance levels: 110.00, 110.30, and 110.55

Support Levels: 108.85, 108.60, 108.25

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