Dollar Little Changed After U.S. Industrial Production

By | January 17, 2018

The U.S. Fed’s industrial production for December has been released at 9.15 am ET Wednesday. Following the data, the greenback changed little against its major rivals.

The greenback was trading at 1.2219 against the euro, 110.82 against the yen, 0.9634 against the franc and 1.3798 against the pound around 9:16 am ET.

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Bitcoin analysis for 17/01/2018

By | January 17, 2018

Mark Cuban, a cryptocurrency billionaire, said his basketball group Dallas Mavericks will accept Bitcoin next season. In the discuss Twitter after releasing the structure his team, who in June in 2015 called Bitcoin a bubble, he announced that fans of the team will have the ability to purchase tickets utilizing Bitcoin in the second half of 2018. This action is a milestone for both American basketball and the approval of cryptocurrencies in sport, and Cuban has been convinced by Bitcoin in the last 6 months. “This is intriguing since there are numerous possessions whose worth is based only on supply and demand” – he stated in the October interview. He likewise confirmed that he had invested his resources in Bitcoin: “Many shares have no intrinsic worth because you do not have genuine ownership and voting rights. You simply have the option of purchasing and selling these shares. With Bitcoin, it’s the very same. Its worth is based on supply need. I purchased some through ETN on the Swedish stock market”.

Outside the United States, Denmark made a lot more pronounced gesture last month, when the modification of ownership of the primary hockey club meant that it is now connected with cryptocurrencies. The three-year term of Bitcoin Suisse suggests that the home arena of Rungsted Seier Capital will now be called Bitcoin Arena. In addition, the very best player in the group will get an income in Bitcoins, which was formally announced by the club.Let’s now take a look at Bitcoin technical picture at the H4 time frame. The price has broken below the crucial technical assistance at the level of # 11,150 and now is heading towards the 100% Fibo Extension at the level of $8.602. This is the very first forecast level for wave c of wave 4, so the rate must bounce from this level. Please notification, the corrective cycle may still evolve into more complex and time-consuming pattern.

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Trading plan for 17/01/2018

By | January 17, 2018

The foreign exchange market experiences a liquidity increase, from which the USD lastly ends up as a winner. The EUR/ USD tended to change, initially breaking to 1.2325 to return to 1.2220. USD/ JPY for a while scored 110.18, but now it is already at 110.80. AUD overlooks excellent financial information and stays reasonably calm. The stock exchange in Asia in mixed moods. Gold is finally in a correction.On Wednesday 17th of January, the main event of the day is the Bank of Canada interest rate choice, but market individuals need to keep an eye on Consumer Rate Index data from the Eurozone, Industrial Production and Capability Utilization Rate information from the US.EUR/ USD analysis for 17/01/2018: The US Congress is still dealing with extending financing for the government administration from January 19 to February 16, consequently trying to avoid the so-called federal government shutdown. The Republican bill includes concessions for Democrats to acquire partial assistance. This is in line with market expectations.The USD handled to handle the unexpected sale from the start of the Asian part of the session. Motions lack a direct causative element, which might suggest that the market was

searching for the last spurt to break the market after Tuesday’s debt consolidation. After a failed effort, it switched to profit taking.Let’s now take a look at the EUR/USD technical image at the H4 time frame. The regional new high was made at the level of 1.2321 and now the rate is in the restorative cycle. The closest technical support is seen at the level

of 1.2193, so it should be tested again soon. The next technical assistance is seen at the level of 1.2155, however the crucial technical support is still at the level of 1.2090. The overbought market conditions support the concept of a corrective slide. Market Photo: AUD/USD hits 78% Fibo The price of AUD/USD has backtracked 78 %of the previous swing down and

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made a new minimal high at the level of 0.7998. Due to the overbought market conditions and growing bearish divergence, the price needs to now pull-back from the highs to test the level of 0.7934 and potentially 0.7907. Please mind the channel lines. Market Snapshot: GOLD makes a local Double Leading The price of Gold has made a Double Leading technical pattern around the level of$1,344 and might quickly start to pull-back from the highs. The closest technical support is seen at the level of$1,331 and$ 1,322. Please discover the growing bearish divergence and overbought market conditions support the view. The product has been suppliedanalytics5a5f10481b5b8.jpg

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Trading plan 01/17/2018

By | January 17, 2018

Trading strategy 01/17/2018 The general image: The marketplace is adjusted for correction. By the morning of Wednesday, the market remained in a corrective mood. In the United States market, the mad ecstasy of bulls has finally dried up and the main indices revealed the first decline this year.

The Bitcoin has actually drifted down significantly in recent days.

The correction was likewise laid out in currencies.

Nonetheless, while the general trend against the dollar is not broken, most likely, we will see a brand-new project against the dollar.

At night, at 19.00 London time, the Fed will publish a report on the economy “Beige Book”. As always, 2 Week before the choice on the rates.

GBPUSD

We are purchasing from a rollback from 1.3610.

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Europe's New Car Registrations Fall In December

By | January 17, 2018

Europe’s new passenger car registrations declined at the end of the year, data published by the European Automobile Manufacturers’ Association showed Wednesday.

Passenger car sales declined 4.9 percent year-over-year to 1,088,498 units in December, mainly the result of the fact that December had one working day less in 2017 than in the preceding year.

Among five big markets, sales in the United Kingdom posted the biggest contraction, with registrations falling by 14.4 percent in December.

Sales in Germany dropped 1.0 percent and those of in Italy by 3.2 percent. French market logged a moderate fall of 0.5 percent.

At the same time, registrations in Spain grew notably by 6.2 percent.

Overall in 2017, European demand for cars grew 3.4 percent, reaching more than 15 million new passenger cars registered for the first time since 2007. Moreover, it was fourth successive yearly rise in sales.

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Brent fell under the fire of OPEC

By | January 16, 2018

It happened! What looked like a difficult dream 6 months ago, managed to come true. “Bulls” in the North Sea grade checked a psychologically considerable level of $70 per barrel, although they might not gain a foothold above it on the first effort. Will they reach it the future? On one hand, looking at such a major upward trend, there will be couple of people who will consider actively selling oil, and corrections are rapidly redeemed. On the other hand, black gold has “bear” drivers, which it still overlooks. What ought to be done for the time being?The prolongation of the OPEC agreement, strong international demand, geopolitical threats and bad weather in the US and China permitted Brent and WTI to include more than 50 %to their worth given that June in 2015. The weakness of the US dollar likewise played into the hands of the bulls. It feels stretched since of its failure to win back apparently strong favorable news through tax reform, the prospective acceleration of GDP and inflation, along with through aggressive monetary constraint of the Federal Reserve. Traded in dollar terms, commodities have the tendency to increase during durations of weak point of the greenback. As a result of the influence of numerous “bullish “oil chauffeurs, a stable upward trend was established, and speculative net longs reached record levels for Brent (574152 agreements) and maximum levels from 2006 for WTI (437,770 agreements).

Dynamics of speculative positions for Brent and WTI

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Source: Bloomberg.It is rational that as the costs increase for other players and hedge funds, the desire to lock in profits boosts, specifically because Goldman Sachs warns about the dangers of the OPEC rhetoric limiting the “bulls”, and the number of drilling rigs from Baker Hughes after a lengthy marking time shifted with it, increasing simultaneously by 10. In my viewpoint, the cartel’s hesitation to hamper the development of the world economy and the boost in the activity of American producers can be essential factors in the prospective retracement of Brent and WTI.The cartel and other celebrations participating in production cut-off contract have already begun utilizing spoken interventions. In specific, Iran said that OPEC will set up $60 per barrel in the North Sea grade, and Russia kept in mind that oil is growing due to bad weather (short-term aspect) and maintained its projection of a typical cost of $50-60 per barrel for 2018. At the same time the forecast of the Ministry of Energy Info about the growth of black gold in the United States to 10 million b/d d this year and approximately 11 million b/d next year, has actually not been canceled. Judging by the characteristics of drilling rigs, American producers were banally waiting on more cost increases in order to guarantee the risks of their potential decrease through futures agreements. This will permit them to actively increase production without stressing over the worsening of the black gold market.Technically, as long

as quotes of the North Sea grade are above $66.95 per barrel, the mood remains “bullish”. The breakthrough assistance will enhance the threats of pullback in the direction of $65 and $62.1.

Brent, day-to-day chart

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