Petroleum Rebound Fizzles Despite IEA Warning

By | July 12, 2018

Crude oil futures failed to rally Thursday after the International Energy Agency’s (IEA) warning that the world’s oil supply cushion “may be stretched to the limitation” due to production losses.

“Increasing production from Middle East Gulf countries and Russia, welcome though it is, comes at the cost of the world’s spare capability cushion, which might be stretched to the limitation,” the energy watchdog stated in its month-to-month report.

“This vulnerability presently underpins oil costs and promises to continue doing so,” the IEA added.

On Wednesday, the Energy Info Administration reporting that domestic unrefined supplies plunged by 12.6 million barrels for the week ended July 6. The American Petroleum Institute on Tuesday reported a drop of 6.8 million barrels.

Still, oil rates tumbled the most in a year amidst a strong dollar and increased Libyan output.

Today, was down 5 cents to $70.33 a barrel.

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Petroleum Steadies After Dramatic Plunge

By | July 12, 2018

Crude oil futures steadied Thursday morning after a plunging in the previous session.

Experts say renewed production from Libya and a strong U.S. dollar caused oil prices to crater.

The Other Day, August West Texas Intermediate petroleum fell $3.73, or 5%, to $70.38 a barrel on the New York Mercantile Exchange. It was the greatest everyday decline in a year.

That’s in spite of the Energy Information Administration reporting that domestic unrefined products plunged by 12.6 million barrels for the week ended July 6. The American Petroleum Institute on Tuesday reported a drop of 6.8 million barrels.

WTI oil was up 45 cents to $70.82 a barrel today.

Today’s financial calendar features U.S. consumer rate inflation information.

Overseas, German consumer costs climbed up 2.1 percent year-over-year in June, simply listed below the 2.2 percent increase in May, final information from Destatis revealed. That was in line with the flash quote published on June 28.

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Euro Mixed Ahead Of ECB Minutes

By | July 12, 2018

The European Reserve bank will release the accounts of the monetary policy conference of the Governing Council held on June 13-14 at 7:30 am ET Thursday. Ahead of the release, the euro traded blended versus its significant equivalents. While the euro rose against the yen and the franc, it dropped versus the greenback and the pound.

The euro was worth 131.19 versus the yen, 1.1643 against the franc, 0.8837 against the pound and 1.1656 against the greenback as of 7:25 am ET.

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Trump continues to astonish

By | July 12, 2018

Trump continues to amaze.On Wednesday,

Trump took part in the conference of the presidents of the NATO nations. For obvious reasons, Trump remained in the spotlight.

Trump demanded from NATO member countries to increase defense costs by 4% of GDP. This caused a general surprise: Now, the majority of nations spend substantially less than 2%. In NATO, the goal is to achieve defense costs growth of as much as 2% by 2024.

Trump dramatically slammed Germany especially on low defense spending (1.2% of GDP) – and attention for a brand-new gas pipeline from Russia (Nord Stream – 2). Trump implicated Germany that it was “subordinated to Russia” because of its reliance on Russian gas imports. Germany now gets 40% of gas from Russia. Merkel parried Trump’s accusations, reminding that Germany is the 2nd NATO member after the US for defense spending. Merkel likewise said that Germany is developing alternative energy and lowering the share of Russian gas.

Trump continued to assault Germany for relations with Russia in an attract NATO Secretary Stoltenberg. “We are taking measures versus Russia (sanctions) in the US, and after that Germany is spending lots of billions to purchase Russian gas. Explain it! “, Trump stated.

Merkel, then Macron had individual talks with Trump, after which they said they were really satisfied with the settlements.

It is fascinating that Trump’s attacks on Germany-Russia relations were made a few days prior to the meeting between Trump and Putin in Helsinki.

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International macro introduction for 12/07/2018

By | July 12, 2018

The USD remains the main beneficiary of trade tensions, which is simple when it has a strong macro back-up. The labor market is growing even more

, consumption is growing, and in leading indicators, there are no signs of issues on the part of business and households about the effects of trade wars. Even the Fed authorities make constructive remarks. Yesterday, Charles Evans, a dove who voted versus the walking in December, now sees space for one or two until the end of this year. WSJ published an interview with the head of the Fed branch in Cleveland Loretta Mester, who has hawkish views(and the right to vote this year). Mester said that the economy is surely able to sustain 2 more rates of interest walkings this year. In her opinion, if the Fed will postpone increases, it might be late with a reaction to the signs of getting too hot. Inning accordance with Mester, the neutral rate is 3.0%. There are not a surprises here and the marketplace accepts remarks neutrally.Today in the calendar data on June inflation, where agreement depends on a moderate boost of 0.2%m/m, which will push core inflation to 2.3%y/y. A more powerful reading and reaction of the

financial obligation market might end up being an excellent catalyst for the USD rally. AUD, NZD, but also SEK and NOK stay the most conscious risk hostility and escape to the USD. Thinking about China’s participation in the dispute and the pressure on the rates of commercial raw materials, AUD has the most tight spot and one can expect it to go even further in time. An impressive novelty is the USD/JPY rally, particularly as it remains in conflict with connections with the stock and debt market. It appears as if the yen stopped to be dealt with as a”safe haven “and is seen as the currency of the Asian economy, where foreign trade plays a major role. If there is still someone on the market who wants to hedge the danger by buying a yen, it can now be in an unpleasant position.Let’s then take a look at the USD/JPY technical photo at the H4 time frame. The marketplace is in a clear uptrend with a regional high at the level of 112.62, but the bulls are heading towards the level of 113.37 minimum. The nearby technical support is seen at the level of 111.39. The market conditions are starting to end up being overbought slightly, but the momentum stays positive and strong. The material has been supplied by InstaForex Business-www.instaforex.com

USD/CHF analysis for July 12, 2018 888011000 110888 Recently, USD/CHF has actually been trading upwards. The rate tested the level of 0.9978. Inning accordance with the H1 time-frame, I found a breakout of the bullish flag, which is an indication that purchasers remain in control. My advice is to watch for possible purchasing opportunities. The upward targets are set at the price of 1.0000 and at the price of 1.0050. Resistance levels: R1: 0.9980 R2: 1.0004 R3: 1.0040 Support levels: S1: 0.9920 S2: 0.9885 S3: 0.9860 Trading recommendations for today: expect potential purchasing opportunities.The product has actually been supplied by InstaForex Business-www.instaforex.com

By | July 12, 2018

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Recently, USD/CHF has been trading upwards. The price tested the level of 0.9978. According to the H1 time – frame, I found a breakout of the bullish flag, which is a sign that buyers are in control. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.0000 and at the price of 1.0050.

Resistance levels:

R1: 0.9980

R2: 1.0004

R3: 1.0040

Support levels:

S1: 0.9920

S2: 0.9885

S3: 0.9860

Trading recommendations for today: watch for potential buying opportunities.

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

GBP/USD analysis for July 12, 2018 888011000 110888 Just recently, EUR/USD has been trading downwards. The cost evaluated the level of 1.1665. According to the H1 time -frame, I discovered a potential bearish flag pattern in creation, which is an indication that purchasing looks dangerous. My guidance is to look for prospective selling opportunities if you see a legitimatebreakout of the flag pattern. The downward targets are set at the price of 1.1600 and at the cost of 1.1530. Resistance levels: R1: 1.3260 R2: 1.3315 R3: 1.3350 Assistance levels: S1: 1.3177 S2: 1.3145 S3:1.3090 Trading suggestions for today: watch for prospective selling opportunities.The material has been provided by InstaForex Company-www.instaforex.com

By | July 12, 2018

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Recently, EUR/USD has been trading downwards. The price tested the level of 1.1665. According to the H1 time – frame, I found a potential bearish flag pattern in creation, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities if you see a valid breakout of the flag pattern. The downward targets are set at the price of 1.1600 and at the price of 1.1530.

Resistance levels: R1: 1.3260 R2: 1.3315 R3: 1.3350

Support levels: S1: 1.3177 S2: 1.3145 S3: 1.3090

Trading recommendations for today: watch for potential selling opportunities.

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

Bitcoin analysis for July 12, 2018 888011000 110888 Trading suggestions: Recently, Bitcoin has actually been trading downwards. As I expected, the price evaluated the level of$ 6.048. Inning accordance with the H1 time -frame, I discovered an end of the upward correction(running flat ), which is an indication that purchasing looks risky. I see strong selling pressure on the marketplace and my suggestions is to expect potential selling opportunities on the rallies. The down target is set at the rate of$5.767.$6.237Intraday resistance;$ 6.048– Intraday assistance;$5.767– Unbiased target; With InstaForex, you can earn on cryptocurrency’s movements today. Simply open a handle your MetaTrader4. * The marketplace analysis posted here is meant to increase your awareness, but not to provide guidelines to make a trade.The material has actually been offered by InstaForex Business-www.instaforex.com

By | July 12, 2018

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Trading recommendations:

Recently, Bitcoin has been trading downwards. As I expected, the price tested the level of $6.048. According to the H1 time – frame, I found an end of the upward correction (running flat), which is a sign that buying looks risky. I see strong selling pressure on the market and my advice is to watch for potential selling opportunities on the rallies. The downward target is set at the price of $5.767.

$6.237 Intraday resistance;

$6.048– Intraday support;

$5.767 – Objective target ;

With InstaForex, you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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

Technical analysis of EUR/USD for July 12, 2018 888011000 110888 Introduction: The EUR/USD pair continues to move downwards from the level of 1.1752. Today, the pair has dropped from the level of 1.1752 down around 1.1678. Today, the very first support level is seen at 1.1694, the cost is relocating a bearish channel now. The rate has actually been set below the strong resistance at the level of 1.1752, which corresponds with the 50% Fibonacci retracement level. This resistance has been turned down several times verifying the accuracy of a drop. Furthermore, the RSI starts signaling a down trend. As a result, if the EUR/USD set is able to break out the very first support at 1.1694, the market will decline further to 1.1623 in order to evaluate the weekly assistance 2. The market is likely to show indications of a bearish pattern. It will be excellent to offer listed below thelevel of 1.1752 with the very first target at 1.1663 and even more to 1.1566. Nevertheless, stop loss is to be positioned above the level of 1.1810(61.8%Fibonacci retracement levels) . The product has been offered by InstaForex Company-www.instaforex.com

By | July 12, 2018

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Overview:

The EUR/USD pair continues to move downwards from the level of 1.1752. This week, the pair has dropped from the level of 1.1752 to the bottom around 1.1678. Today, the first support level is seen at 1.1694, the price is moving in a bearish channel now. Furthermore, the price has been set below the strong resistance at the level of 1.1752, which coincides with the 50% Fibonacci retracement level. This resistance has been rejected several times confirming the veracity of a downtrend. Additionally, the RSI starts signaling a downward trend. As a result, if the EUR/USD pair is able to break out the first support at 1.1694, the market will decline further to 1.1623 in order to test the weekly support 2. Consequently, the market is likely to show signs of a bearish trend. So, it will be good to sell below the level of 1.1752 with the first target at 1.1663 and further to 1.1566. However, stop loss is to be placed above the level of 1.1810 (61.8% Fibonacci retracement levels).

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