Category Archives: Quick Forex

South Korea Industrial Output Slips 1.7% In October

By | November 29, 2016

Industrial production in South Korea was down 1.7 percent on month in October, Statistics Korea said on Wednesday.

That followed the 0.6 percent increase in September.

On a yearly basis, industrial output sank 1.6 percent after falling 1.7 percent in the previous month.

The index of all industry production in October fell 0.4 percent on month but gained 2.0 percent on year.

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

France Oct Customer Investing Beats Expectations Driven by Sharp Rebound in Energy Consumption

By | November 29, 2016

France consumer spending during the month of October rose more-than-expected. Authorities data released by France Data firm INSEE showed on Tuesday that French customer spending rose to a seasonally adjusted 0.9 percent from -0.4 percent in the preceding month(modified down from -0.2 percent ). Information beat expectations for an increase of 0.4 percent. Gains were mainly driven by sharp rebound in energy consumption. Information of the report showed

that spendings on energy and purchases of family durables and of clothes got markedly. Energy usage recuperated sharply to +3.6 percent after a & minus; 1.8 percent drop in the previous month.

Purchases of family durables recuperated after three consecutive month −of decline, was up +2.5 percent after & minus; 0.4 percent fall in September. FxWirePro ' s Hourly EUR Spot Index was at 78.0777(Slightly bullish), while Hourly USD Area Index was at -98.5145

(Extremely bearish) at 1200 GMT. For more details on FxWirePro ' s Currency Strength Index, visit http://www.fxwirepro.com/currencyindex!.?.!.The material has been supplied by InstaForex Company- www.instaforex.com

Everyday analysis of USD/JPY for November 29, 2016 888011000 110888 Overview The USD/JPY pair was trading upwards yesterday to retest the previously damaged assistance of the bullish channel as appears on the chart. This hints that the pair is going to resume the bearish predisposition in the approaching duration, which is thought about as a bearish correction for the bullish wave determined from 101.17 to 113.88. For that reason, the bearish predisposition is recommended on the intraday and short-term basis, unless the price handled to breach 112.78 and the most crucial 113.88. Please know that the correctional targets are seen at 110.88 and 109.05 after breaking the previous level . The anticipated trading variety for today is between 110.88 assistance and 113.00 resistance. The material has actually been supplied by InstaForex Company – www.instaforex.com

By | November 29, 2016

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Overview

The USD/JPY pair was trading upwards yesterday to retest the previously broken support of the bullish channel as appears on the chart. This hints that the pair is going to resume the bearish bias in the upcoming period, which is considered as a bearish correction for the bullish wave measured from 101.17 to 113.88. Therefore, the bearish bias is suggested on the intraday and short-term basis, unless the price managed to breach 112.78 and the most important 113.88. Please be aware that the correctional targets are seen at 110.88 and 109.05 after breaking the previous level. The expected trading range for today is between 110.88 support and 113.00 resistance.

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

Day-to-day analysis of Gold for November 29, 2016 888011000 110888 Overview The gold cost deals with strong resistance formed by the formerly damaged support shown on the chart that turned into resistance at 1,195.00. The EMA50 includes extra unfavorable pressure to secure the pointed out resistance, which may cause more sideways changes up until the price gets enough positive momentum to breach this level and resume the recently suggested bullish pattern. In general, we still expect the bullish trend in the upcoming duration offered the strength that the 61.8%Fibonacci correction level revealed against the current unfavorable pressure. Holding above 1,172.68 levels represents crucial condition for additional benefit, which primary targets start at 1,211.31 and encompass 1,249.94 after breaching the previous level.The anticipated trading range for today is in between the 1,172.00 support and the 1,211.31 resistance.The product has actually been provided by InstaForex Company- www.instaforex.com

By | November 29, 2016

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Overview

The gold price faces strong resistance formed by the previously broken support shown on the chart that turned into resistance at 1,195.00. The EMA50 adds extra negative pressure to protect the mentioned resistance, which might cause more sideways fluctuations until the price gets enough positive momentum to breach this level and resume the recently suggested bullish trend. In general, we still expect the bullish trend in the upcoming period given the strength that the 61.8% Fibonacci correction level showed against the recent negative pressure. Holding above 1,172.68 levels represents key condition for further upside, which main targets begin at 1,211.31 and extend to 1,249.94 after breaching the previous level. The expected trading range for today is between the 1,172.00 support and the 1,211.31 resistance.

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

<aDaily analysis of Silver for November 29, 2016 888011000 110888 Summary Silver cost is hovering around 16.56, accompanied by a stochastic technique from the oversold areas. This keeps the possibilities legitimate to rebound and resume the anticipated bullish trend on the intraday and short-term basis, waiting to check out the first target level of 17.43. Therefore, the bullish outlook stands unless we witness a clear break and the metal holds listed below 16.56. Breaking this level will push the price down to 15.49 directly prior to any brand-new positive effort. Breaching 17.43 represents the crucial to extend silver price gains to reach 18.30 as the next target level. The expected trading variety for today is between 16.40 support and 16.90 resistance. The material has actually been supplied by InstaForex Business- www.instaforex.com

By | November 29, 2016

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Overview

Silver price is hovering around 16.56, accompanied by a stochastic approach from the oversold areas. This keeps the chances valid to rebound and resume the expected bullish trend on the intraday and short-term basis, waiting to visit the first target level of 17.43. Therefore, the bullish outlook is valid unless we witness a clear break and the metal holds below 16.56. Breaking this level will push the price down to 15.49 directly before any new positive attempt. Breaching 17.43 represents the key to extend silver price gains to reach 18.30 as the next target level. The expected trading range for today is between 16.40 support and 16.90 resistance.

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

<aGlobal macro introduction for 29/11/2016

By | November 29, 2016

International macro introduction for 29/11/2016: The main event for the day is the United States GDP Second Release at 01:30 pm GMT and Consumer Self-confidence Index at 03:00 pm GMT. The market individuals are anticipating a slight uptick in GDP for the third quarter from 2.9% to 3.0% (seasonally changed annualized rate) in the initial estimate. Today’s release is on track to include a bit more edge to the trend as the broad trend for the world’s biggest economy has been firming up lately. The state of mind of the consumer sector seems to enhance as international investors are expecting the increase from 98.6 points in October to 101.3 points in November. The possible factor behind this optimism is the preliminary response of customers to Trump’s victory. Strong information on retail spending supports a brighter mood. Real (inflation-adjusted) sales increased 2.6% in the year through October– the greatest increase considering that February. In conclusion, if today’s information matches or beats the expectations, the United States dollar rally should continue higher.

Let’s now take a look at the EUR/USD technical photo on the 4H time frame. The failure to break out the technical resistance at the level of 1.0665 resulted in a more decrease towards the local low at the level of 1.0515. If data beats the expectations, this level ought to be checked or broken quickly.

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Technical analysis of USD/CAD for November 29, 2016 888011000 110888 General summary for 29/11/2016:Another corrective wave has actually been made (identified as a (green)) as the marketplace keeps trading horizontally between the intraday assistance at the level of 1.3378 and intraday resistance at the level of 1.3566. The first three waves of this wave development have actually been completed and now it looks like the tow for the wave x (green) is in location. That would mean the marketplace must move lower, to the intraday support, after the weekly pivot at the level of 1.3482 is tested and wave b (green) is made too. Support/Resistance:1.3588 – Local High1.3583 – WR11.3566 – Intraday Resistance1.3482 – Weekly Pivot1.3429 – WS11.3378 – Intraday Assistance1.3323 – WS2Trading recommendations:As the corrective cycle is still unfolding, daytraders should open only sell orders around the level of 1.3482 as there is incomplete wave progression to the drawback.. The material has been offered by InstaForex Business – www.instaforex.com

By | November 29, 2016

General overview for 29/11/2016:

Another corrective wave has been made (labeled as a (green)) as the market keeps trading horizontally between the intraday support at the level of 1.3378 and intraday resistance at the level of 1.3566. The first three waves of this wave progression have been completed and now it looks like the tow for the wave x (green) is in place as well. That would mean the market should move lower, towards the intraday support, after the weekly pivot at the level of 1.3482 is tested and wave b (green) is made as well.

Support/Resistance:

1.3588 – Local High

1.3583 – WR1

1.3566 – Intraday Resistance

1.3482 – Weekly Pivot

1.3429 – WS1

1.3378 – Intraday Support

1.3323 – WS2

Trading recommendations:

As the corrective cycle is still unfolding, daytraders should open only sell orders around the level of 1.3482 as there is incomplete wave progression to the downside.

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

<aTechnical analysis of EUR/JPY for November 29, 2016 888011000 110888 General overview for 29/11/2016:The marketplace made nearly a book correction to the level of 118.50 where the intraday support is. This correction has been identified as wave (iv), so there is another wave to the benefit missing out on, wave (v). Presently, the market is trading around the weekly pivot at the level of 119.23 and is aiming to bounce above the internal supply zone at the level of 119.70. If this level is violated, then the market must break out above the intraday high at the level of 120.16. Support/Resistance:112.16 – Intraday Resistance119.23 – Weekly Pivot118.49 – Intraday Assistance118.32 – WS1116.37 – WS2Trading suggestions:All the buy orders opened around the level of 118.50 needs to be now kept open as there is uncompleted wave progression to the benefit.The product has been provided by InstaForex Business- www.instaforex.com

By | November 29, 2016

General overview for 29/11/2016:

The market made almost a textbook correction down to the level of 118.50 where the intraday support is. This correction has been labeled as wave (iv), so there is one more wave to the upside missing, wave (v). Currently, the market is trading around the weekly pivot at the level of 119.23 and is trying to bounce above the internal supply zone at the level of 119.70. If this level is violated, then the market should break out above the intraday high at the level of 120.16.

Support/Resistance:

112.16 – Intraday Resistance

119.23 – Weekly Pivot

118.49 – Intraday Support

118.32 – WS1

116.37 – WS2

Trading recommendations:

All the buy orders opened around the level of 118.50 should be now kept open as there is uncompleted wave progression to the upside.

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