Category Archives: Quick Forex

NZD/USD Intraday technical levels and trading recommendations for July 24, 2017 888011000 110888 Daily Outlook The NZD/USD set has been trending up within the portrayed bullish channel since January 2016. In November 2016, early indications of bullish weak point were expressed on the chart when the set cannot record a brand-new high above 0.7400. A bearish breakout of the lower limitation of thechannel happened in December 2016. In February 2017, the illustrated short-term drop was initiated in the portrayed supply zone(0.7310-0.7380).A recent bullish breakout above the drop line took place in May 22. Since then, the market has actually been bullish as illustrated on the chart.The rate zone of 0.7150-0.7230 (SUPPLY ZONE in confluence with 61.8%Fibonacci level )stood as a short-lived resistance zone up until a bullish breakout was expressed above 0.7230. This resulted in a fast bullish advance to the next supply zone around 0.7310-0.7380 which is being temporarily breached to the upside.Now the cost zone of 0.7310-0.7380 rely on be a newly-established demand-zone to be expected possible bullish rejection if any bearish pullback occurs.The product has been offered by InstaForex Business-www.instaforex.com

By | July 24, 2017

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Daily Outlook

The NZD/USD pair has been trending up within the depicted bullish channel since January 2016.

In November 2016, early signs of bullish weakness were expressed on the chart when the pair failed to record a new high above 0.7400.

A bearish breakout of the lower limit of the channel took place in December 2016.

In February 2017, the depicted short-term downtrend was initiated in the depicted supply zone (0.7310-0.7380).

However, a recent bullish breakout above the downtrend line took place in May 22. Since then, the market has been bullish as depicted on the chart.

The price zone of 0.7150-0.7230 (SUPPLY ZONE in confluence with 61.8% Fibonacci level) stood as a temporary resistance zone until a bullish breakout was expressed above 0.7230.

This resulted in a quick bullish advance towards the next supply zone around 0.7310-0.7380 which is being temporarily breached to the upside.

Now the price zone of 0.7310-0.7380 turns to be a newly-established demand-zone to be watched for possible bullish rejection if any bearish pullback occurs.

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

Intraday technical levels and trading suggestions for EUR/USD for July 24, 2017 888011000 110888 Monthly Outlook In January2015, the EUR/USD set moved listed below the significant demand levels near 1.2100(several previous bottoms embeded in July 2012 and June 2010). A long-term bearish target is predicted toward 0.9450. In March 2015, EUR/USD bears challenged the regular monthly demand level around 1.0500, which had actually been formerly reached in August 1997. In the longer term, the level of 0.9450 remains a forecasted target if any monthly candlestick achieves bearish closure listed below the depicted monthly demand level of 1.0500. Presently, the EUR/USD set remains caught within the depicted debt consolidation range(1.0500-1.1450) until a breakout happens in either direction.The current bullish breakout above 1.1450 allowed a quick bullish advance to 1.1500, 1.1600, 1.1710 and ultimately 1.2000. Daily Outlook In January 2017, the previous sag reversed when the Head and Shoulders pattern was established around 1.0500. Since then, obvious bullish momentum has been revealed on the chart.As expected, the continuous bullish momentum permitted the EUR/USD set to pursue further advance to 1.1415-1.1520(Daily Supply-Zone). The day-to-day supply zone cannot stop briefly the continuous bullish momentum.Rather, a momentary bullish breakout is being experienced on the chart.The nearest supply level to meet the set is located around 1.1720(August 2015 Highest level)where cost action should be looked for a bearish pullback.On the other hand, the cost zone of 1.1260-1.1130 stands as a prominent DEMAND zone to be viewed if bearish pullback continues listed below 1.1400. The product has been offered by InstaForex Business-www.instaforex.com

By | July 24, 2017

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Monthly Outlook

In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target is projected toward 0.9450.

In March 2015, EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August 1997.

In the longer term, the level of 0.9450 remains a projected target if any monthly candlestick achieves bearish closure below the depicted monthly demand level of 1.0500.

Currently, the EUR/USD pair remains trapped within the depicted consolidation range (1.0500-1.1450) until a breakout occurs in either direction.

The recent bullish breakout above 1.1450 allowed a quick bullish advance towards 1.1500, 1.1600, 1.1710 and eventually 1.2000.

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Daily Outlook

In January 2017, the previous downtrend reversed when the Head and Shoulders pattern was established around 1.0500. Since then, evident bullish momentum has been expressed on the chart.

As anticipated, the ongoing bullish momentum allowed the EUR/USD pair to pursue further advance towards 1.1415-1.1520 (Daily Supply-Zone).

The daily supply zone failed to pause the ongoing bullish momentum. Instead, a temporary bullish breakout is being witnessed on the chart.

The nearest supply level to meet the pair is located around 1.1720 (August 2015 Highest level) where price action should be watched for a bearish pullback.

On the other hand, the price zone of 1.1260-1.1130 stands as a prominent DEMAND zone to be watched if bearish pullback persists below 1.1400.

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

Japan Production PMI Slips To 52.2 – Nikkei

By | July 24, 2017

The production sector in Japan continued to broaden in June, albeit at a somewhat slower pace, the most recent survey from Nikkei revealed on Monday with an eight-month low manufacturing PMI rating of 52.2.

That’s below 52.4 in June, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, the output index sank to 51.4, marking the weakest reading in 10 months. Export orders stagnated.

Backlogs of work, stocks of purchases and stocks of completed items all swung to contraction in July.

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

Treasuries Move Higher Amid Drop In The Worth Of The Dollar

By | July 21, 2017

Treasuries revealed a notable move to the upside throughout trading on Friday after closing almost flat for 2 straight days.

Bond rates moved higher in morning trading and stayed firmly favorable throughout the afternoon. As a result, the yield on the benchmark ten-year note, which moves opposite of its cost, fell by 3.4 basis points to 2.232 percent.

The reduction extended a recent downward trend by the ten-year yield, which fell to its most affordable closing level in over 3 weeks.

Treasuries took advantage of continued weakness in the worth of the U.S., which was up to an almost two-year low against the euro.

Political concerns added to the dollar’s slide this week in addition to the analysis of comments from European Central Bank Chief Mario Draghi.

General trading activity was somewhat subdued, however, with a lack of major U.S. economic data keeping some traders on the sidelines.

The Federal Reserve is most likely to be in focus next week, with the reserve bank due to reveal its most current financial policy decision next Wednesday.

While the Fed is widely expected to leave interest rates the same, traders will pay very close attention to the accompanying declaration.

Economic information may likewise bring in attention next week, with traders likely to keep an eye on reports on existing and new house sales, resilient goods orders, consumer confidence and second quarter GDP.

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

Crude Oil Rally Ends With A Thud

By | July 21, 2017

Petroleum futures tumbled Friday, giving back strong gains from earlier in the week amid issues that next week’s OPEC meeting will fail to deal with the international supply excess.

Sept. WTI oil settles at $45.77/ bbl, down $1.15, or 2.5%, on Nymex. Prices were down 2.1% for the week, toppling from a 6-week high set Wednesday.

Reports recommend Saudi Arabia will insist on compliance from Libya and Nigeria, the 2 OPEC countries that have actually been so far exempt from supply cuts.

Meanwhile, the United States rig count from Baker Hughes is due this afternoon, and might verify U.S. production is finally slowing down due to stubbornly low oil prices.

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

Dollar Sinks To Near 2-Year Low Against Euro

By | July 21, 2017

The dollar is losing ground against all its significant rivals Friday afternoon. The buck has actually been sinking versus both the Euro and the Japanese Yen for the majority of the week and has actually now reached almost a 2-year low against the Euro.

Political issues have contributed to the dollar’s slide today, along with hawkish comments from European Reserve bank Chief Mario Draghi, recommending a possible policy tweak.

U.S. special counsel Robert Mueller is apparently broadening the Russia probe to include Trump’s company transactions stoked stress over economic program.

Media reports suggested that Muller is taking a look at a broad range of transactions including Trump’s companies in addition to those of his associates.

Investigators are taking a look at Russian purchases of homes in Trump structures, Trump’s participation in a questionable SoHo development with Russian associates, the 2013 Miss Universe pageant in Moscow and Trump’s sale of a Florida mansion to a Russian oligarch in 2008, according to the reports.

The International Monetary Fund on Thursday approved “in concept” a brand-new loan worth $1.8 billion to Greece.

The arrangement has been approved in principle, which suggests it will end up being effective only after IMF gets reliable and particular guarantees from Greece’s European partners to ensure financial obligation sustainability.

Even more, a 2nd executive board choice is needed to make the arrangement reliable.

Greece’s debt remains unsustainable, the IMF noted. In the medium term, Athens needs to achieve main surplus target of 3.5 percent of GDP.
The dollar has actually tumbled to a nearly 23-month low of $1.1675 versus the Euro Friday afternoon, from an early high of $1.1618.

The buck rose to an early high of $1.2952 against the pound sterling Friday, however has since reduced back to around $1.30.

The UK deficit spending broadened more-than-expected in June as financial obligation interest increased significantly after inflation lifted the expense of index-linked bonds.

Public sector net borrowing, leaving out interventions, increased by GBP 2.0 billion from a year ago to GBP 6.9 billion in June, data from the Workplace for National Stats revealed Friday. The expected figure was GBP 4.9 billion.

The greenback has actually dropped to almost a 1-month low of Y111.125 against the Japanese Yen this afternoon, from an early high of Y112.077.

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

Gold Leaps 2% This Week, At Regular monthly Peak

By | July 21, 2017

Gold futures continued to increase Friday, extending weekly gains as stocks languished. With risk hostility getting, gold has leapt to greatest in more than a month due to its safe haven appeal

August gold climbed up $9.40, or 0.8%, to settle at $1,254.90/ oz, having actually picked up 2% this week. Silver has actually also rallied, fighting back from annual lows over the previous 2 weeks.

Products were improved this month by a weaker U.S. dollar. The greenback has dropped sharply this summer season in the middle of renewed speculation the Federal Reserve will keep rate of interest on hold till at least December.

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

Canadian Dollar Advances As CPI, Retail Sales Beat Forecasts

By | July 21, 2017

The Canadian dollar climbed up against its major opponents in the European session on Friday, after better-than-expected domestic customer cost inflation for June and retail sales for May.

Data from Statistics Canada revealed that consumer rate index was flat on a seasonally changed regular monthly basis, following a 0.2 percent slide in May. Economists were trying to find a 0.1 percent drop.

Core CPI, excluding food and energy, rose 0.2 percent on a seasonally changed monthly basis, from a 0.1 percent gain last month.

Retail sales increased for the third successive month, increasing 0.6 percent to $48.9 billion in May.

This exceeded projections for a 0.3 percent uptick and follows a downwardly modified 0.7 percent boost in April.

Core retail sales, leaving out motor vehicle and parts dealers, dropped 0.1 percent month-on-month in May, compared with a downwardly modified 1.3 advance in the previous month. The index was anticipated to be flat.

On the other hand, oil prices fell ahead of the OPEC meeting next week, when OPEC and Russia will satisfy in Moscow to discuss their supply quota plan.

Petroleum for September shipment fell $0.72 to $46.20 a barrel.

The loonie showed combined efficiency in the Asian session. While the loonie dropped against the euro and the greenback, it held stable versus the yen. Versus the aussie, it increased.

The loonie advanced to 1.2546 versus the greenback, off its early low of 1.2609. The next possible resistance for the loonie is seen around the 1.24 location.

Having fallen to a 9-day low of 1.4683 versus the euro at 2:45 am ET, the loonie climbed to 1.4601. Extension of the loonie’s uptrend may see it challenging resistance around the 1.45 mark.

The Study of Expert Forecasters published by the European Reserve bank revealed that the Eurozone economy is anticipated to broaden at faster than expected pace.

SPF respondents raised 2017 development outlook to 1.9 percent from 1.7 percent and that for next year to 1.8 percent from 1.6 percent. Expectations for 2019 was raised partially to 1.6 percent from 1.5 percent.

The loonie was selling a favorable area versus the aussie with the pair trading at 0.9955. This may be compared with a 3-day peak of 0.9920 set at 11:45 pm ET. More uptrend may take the loonie to a resistance around the 0.97 region.

The Reserve Bank of Australia’s Deputy Governor Man Debelle said that Australia’s rate of interest need not increase automatically with the tightening of other reserve banks.

“Simply as the policy rate in Australia did not need to decrease to the extremely low levels seen in other parts of the world, that other reserve banks increase their policy rates does not immediately imply that the policy rate here has to increase,” Debelle stated in Adelaide.

The loonie bounced off to 88.90 versus the Japanese yen, from a 3-day low of 88.45 hit at 8:15 am ET. The loonie is most likely to target resistance around the 92.00 level.

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

Indonesia Likely To Hold Rates This Year Despite Weak Development Momentum

By | July 21, 2017

Bank Indonesia is most likely to keep its policy rate unchanged at least until the end of this year, as policymakers see the position as neutral, amidst weaker growth, economists at Capital Economics stated.

On Thursday, the central bank left its key rate of interest unchanged at 4.75 percent for a ninth session in a row.

“A senior BI official has characterised the policy position as neutral, which reinforces our conviction that rates will remain on hold for some time yet,” economic experts said.

The policy declaration acknowledged that development had been weaker in the second quarter than the bank had previously anticipated, financial experts observed.

Capital Economics expects that Indonesia’s growth will be around Q1’s 5.0 percent annual growth rate through this year and 2018.

“For this reason, the economy would gain from rates of interest cuts,” financial experts added.

The economy is still facing few tailwinds amidst weak incoming activity data and slow credit development, weak fiscal position and disappointing development on reform.

But a rate cut is not likely this year given the reserve bank’s concerns about inflation, economists kept in mind.

The annual headline inflation in June still reached 4.4 percent, the highest it has been because March last year and nudging the top-end of Bank Indonesia’s 3-5 percent inflation target band.

The increase in inflation was generally owned by greater prices for fuel owing to minimized government subsidies.

The rate of inflation will show short-term, policymakers are unlikely to run the risk of any damage to their track record by cutting rates while inflation remains raised, economists pointed out.

“All told, we continue to expect that the benchmark rate will be kept at 4.75 percent at least till completion of the year,” Capital Economics’ economists anticipated.

“Even more ahead, if inflation drops back as we expect in 2018 and frets about the currency exchange rate remain controlled, rate cuts could return onto the program.”

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