Category Archives: Quick Forex

Crude Oil Holds $44 As OPEC Pressures Holdouts

By | July 10, 2017

Crude oil futures snapped back Monday as traders bet significant recent losses were overdone in the aftermath of last week’s U.S. stockpiles drawdown.

There are some indications that U.S. production has slowed following robust output earlier in the year. The U.S. rig count fell slightly two weeks ago, and inventories at the Cushing facilities have dwindled from record highs.

Meanwhile, OPEC is expected to insist Libya and Nigeria take part in the cartel’s supply quota plan. The two African nations have been exempt for the past six months, but production there has risen more than OPEC anticipated.

WTI light sweet crude oil was up 17 cents, or 0.4 percent, to $44.40 a barrel, edging away from yearly lows.

Looking ahead, mid-week testimony from Federal Reserve Chair Janet Yellen will be closely scrutinized for clues about when the Fed will again raise interest rates.

Recent economic data including the June jobs report suggest the economy is in good shape heading into the dog days of summer.

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

Daily analysis of USD/JPY for July 10, 2017 888011000 110888 Introduction The USD/JPY set validated that 113.97 has actually been breached after the pair closed above it last week. This supports our expectations for a further bullish trend on the short-term basis. The cost relocations within the bullish channel that is shown in the above chart, awaiting checking out 116.00 level as the next target level. Therefore, we will be waiting on a further rise in the upcoming sessions supported by the EMA50, thinking about that breaking 113.97 and then 113.15 levels will stop the anticipated rise and will push the cost to rely on the disadvantage. The expected trading variety for today is in between 113.15 support and 115.30 resistance. The product has been offered by InstaForex Business- www.instaforex.com

By | July 10, 2017

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Overview

The USD/JPY pair confirmed that 113.97 has been breached after the pair closed above it last week. This supports our expectations for a further bullish trend on the short-term basis. The price moves within the bullish channel that is displayed in the above chart, waiting for visiting 116.00 level as the next target level. Therefore, we will be waiting for a further rise in the upcoming sessions supported by the EMA50, taking into consideration that breaking 113.97 and then 113.15 levels will stop the expected rise and will push the price to turn to the downside. The expected trading range for today is between 113.15 support and 115.30 resistance.

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

Day-to-day analysis of GBP/JPY for July 10, 2017 888011000 110888 Overview The GBP/JPY cost kept its favorable stability near 147.65 level. Looking at the chart, we notice the set’s attempt to form a double top pattern, which supports the continuation of the general bullish in the short-term. We anticipate targeting 38.2%at 150.95 by a breach. The continuation of the favorable pressure will make it head for brand-new upward targets from 152.75. If stochastic goes beyond the overbought level, it may force the price to provide intraday sideways trading till the pair gathers the bullish momentum. This will streamline the needed breach and after that will hit the above-mentioned targets. The anticipated trading variety for today is in between 146.10 and 149.40 The material has been supplied by InstaForex Company-www.instaforex.com

By | July 10, 2017

GBPJPYH4.png

Overview

The GBP/JPY price kept its positive stability near 147.65 level. Looking at the chart, we notice the pair’s attempt to form a double top pattern, which supports the continuation of the overall bullish in the short term. We expect targeting 38.2% at 150.95 by a breach. The continuation of the positive pressure will make it head for new upward targets from 152.75. If stochastic surpasses the overbought level, it might force the price to provide intraday sideways trading until the pair gathers the bullish momentum. This will simplify the required breach and then will hit the above-mentioned targets. The expected trading range for today is between 146.10 and 149.40

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

Day-to-day analysis of Gold for July 10, 2017 888011000 110888 Introduction Gold cost handled to hit our expected target at 1,208.92 and has settled there, while stochastic has actually reached the oversold levels. This forms a positive background that could enable the price to recuperate in the closest sessions, waiting for testing 1,229.32 level. The bullish predisposition will be chosen for today on condition of holding above 1,208.92 level. Breaking this level will press the cost to target 1,188.52 directly, while breaching 1,229.32 will extend gold gains to reach 1,254.56 on the short-term basis. The anticipated trading variety for today is in between 1,200.00 assistance and 1,235.00 resistance. The material has actually been offered by InstaForex Company-www.instaforex.com

By | July 10, 2017

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Overview

Gold price managed to hit our expected target at 1,208.92 and has settled there, while stochastic has reached the oversold levels. This forms a positive background that could enable the price to recover in the nearest sessions, waiting for testing 1,229.32 level initially. Therefore, the bullish bias will be preferred for today on condition of holding above 1,208.92 level. Breaking this level will push the price to target 1,188.52 directly, while breaching 1,229.32 will extend gold gains to reach 1,254.56 on the short-term basis. The expected trading range for today is between 1,200.00 support and 1,235.00 resistance.

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

Day-to-day analysis of Silver for July 10, 2017 888011000 110888 Overview Silver cost has actually been able to hit our anticipated target at 15.49. Please be aware that the metal started the week with a bearish bias to press and is moving listed below that level now. This supplies signals for additional losses on the longer-term basis, reducing the method to the previously recorded bottom at 13.75. For that reason, the bearish pattern will stay valid in the upcoming sessions, specifically after the rate made an everyday close below 15.49. We ought to take into account that holding and breaching this level above it will open the way towrdas attempts to gain back the recent losses and accomplish favorable targets that start at 16.56. The expected trading range for today is in between 15.20 support and 15.60resistance. The product has actually been provided by InstaForex Company -www.instaforex.com

By | July 10, 2017

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Overview

Silver price has been able to hit our expected target at 15.49. Please be aware that the metal began the week with a bearish bias to press and is moving below that level now. This provides signals for further losses on the longer-term basis, easing the way to the previously recorded bottom at 13.75. Therefore, the bearish trend will remain valid in the upcoming sessions, especially after the price made a daily close below 15.49. We should take into consideration that breaching this level and holding above it will open the way towrdas attempts to regain the recent losses and achieve positive targets that begin at 16.56. The expected trading range for today is between 15.20 support and 15.60 resistance.

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

Ireland Building and construction Growth Tumbles To 4-Month Low, Yet Robust

By | July 10, 2017

Ireland’s building development eased to a four-month low in June, primarily due to a slower increase in orders, yet the rate of growth in activity stayed robust, survey information from IHS Markit revealed Monday.

The Ulster Bank Construction Acquiring Supervisors’ Index was up to 58.2 in June from 63.6 in May. A rating above 50 recommends development in the sector.

“This follows a particularly strong Might efficiency (among the strongest in the study’s 18-year history) and the still very-elevated level of the PMI indicates that the healing in Irish building and construction continues apace,” Ulster Bank Chief Economist Simon Barry said.

Regardless of the slower growth in orders in June, work continued to increase noticeably and organisation sentiment increased to a 10-month high, the study stated.

“Over 60 percent of companies expect activity to increase over the coming year, which taken together with more sharp increases in New Orders, suggests that near-term prospects for the sector stay very favorable following an extremely strong first half of 2017,” Barry stated.

Total activity has actually broadened in each of the previous 46 months, the survey stated. Panelists reported enhancing demand, led by development in real estate and business sectors.

Industrial and housing activity were the crucial chauffeurs of development in June with the previous being the strongest performer.

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

German Exports Growth Tops Expectations

By | July 10, 2017

Germany’s exports grew more-than-expected in May, going beyond the speed of increase in imports, information from Destatis revealed Monday.

Exports grew 1.4 percent month-on-month in May, faster than the 0.9 percent boost seen in April. Shipments were anticipated to get just 0.3 percent.

This was the fifth successive increase in exports and the fastest in 4 months.

At the very same time, the month-to-month growth in imports held constant at 1.2 percent, but was faster than the anticipated boost of 0.3 percent.

As an outcome, the trade surplus rose to a seasonally changed EUR 20.3 billion from EUR 19.7 billion a month earlier.

On a yearly basis, exports surged 14.1 percent, recuperating from a 2.9 percent fall in April. Imports growth accelerated greatly to 16.2 percent from 5.4 percent.

The current account of the balance of payments showed a surplus of EUR 17.3 billion versus EUR 17.9 billion a year ago.

Looking ahead, ING-diba economist Carsten Brzeski stated the existing upswing of exports ought to be taken with a pinch salt.

Offered the high currency exchange rate level of sensitivity of German exports to the United States, the most recent gratitude of the euro could leave some marks on the German exports sector in the coming months, he noted.

Likewise, the Brexit impact is very unlikely to go away at any time soon, Brzeski stated. These potential down dangers can only be balanced out by a further fortifying of the Eurozone economy.

The International Monetary Fund last week stated Germany’s big current account surplus can be evidence that a country is investing abroad instead of at home. In the long run, this equates into lower development, the lender cautioned.

The IMF encouraged Germany to invest more in public facilities, where investment has actually declined.

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

Elliott Wave Ananlysis of EUR/NZD for July 10, 2017

By | July 10, 2017

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Wave summary:

Nothing is happening here. EUR/NZD remains locked inside a narrow trading-range between 1.5509 – 1.5712. Ideally we will see a break above resistance at 1.5712 for a continuation higher towards 1.6235 and above.

Trading recommndation:

We are long EUR from 1.5645 with stop placed at 1.5215. If you are not long EUR yet, then buy a break above 1.5712 and place a stop at 1.5500

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