Category Archives: Quick Forex

MOODY’S- MAINTAINED OIL COST ESTIMATES FOR 2017 AND 2018, REINFORCING EXPECTATIONS OF A $40-$60 MEDIUM-TERM OIL COST BAND
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MOODY’S -EVEN WITH WEDNESDAY’S OPEC ANNOUNCEMENT, REMAIN SKEPTICAL THAT GLOBAL BALANCING OF PRODUCTION, NEED IS LIKELY THROUGH A MINIMUM OF 1H OF 2017
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USDX remains capped by the resistance level of 101.74, as the bullish
force is weakening in an overall view. However, there are still
chances to see a hike above that resistance and if that happens, we
can expect further gains toward the 102.61 level. However, if 200 SMA
dynamic support gives up, a decline should take the index to test the
100.53 level.

H1 chart’s resistance
levels: 101.74 / 102.61

H1 chart’s support levels:
100.53 / 99.39

Trading recommendations for today:
Based on the H1 chart, place
buy
(long)
orders only if the USD Index
breaks with
a bullish
candlestick;
the resistance
level is at
101.74,
take profit is at
102.61
and stop loss is at 100.87.

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

Overview

The GBPJPY price showed mixed trading yesterday affected by the contradiction between main indicators. The pair settled at 140.60 levels. We noted the price attempt to rally above the bearish channel’s resistance, but we could not confirm these bullish attempts unless there is a positive close in the daily period. Therefore, we recommend staying neutral for the day waiting for the required daily close to detect the main trend in the upcoming period. In case of successful confirmation of positive dynamics, the price will rise to 143.20 reaching 148.35, while its stability within the bearish channel will increase the negative pressure on the upcoming trading. The expected trading range for today is between 138.60 and 143.20.

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Overview

The gold price continues fluctuating near the previously broken support line that turned into key resistance at 1,193.50. The breach of this level will reinforce expectations of the bullish trend continuation in the upcoming period, which also depends on the stability of the 1,172.68 level against the negative pressure that dominated the recent trades. Therefore, we are waiting for positive trading on the intraday and short-term basis, and positive targets begin at 1,211.31 followed by 1,249.94. A break of the 1,172.68 will push the price to 1,124.88 before any new attempt to recover. 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

Overview

The silver price traded steadily above the key support at 16.56 after attempting to break it yesterday. This keeps the bullish trend scenario active until now; the count is also supported by stochastic positivity shown on the four-hour time frame. The price is likely to visit the 17.43 level as the first main target. Note that a breach of 16.85 levels will complete positive technical formation, which confirms the expected bullish trend continuation. A break of 16.56 levels will stop the positive overview and push the price to 15.49. The expected trading range for today is between the 16.40 support and the 16.90 resistance.

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

After reporting weaker than expected job growth in the previous month, payroll processor ADP launched a report on Wednesday showing that U.S. economic sector employment increased by a lot more than anticipated in the month of November.

The report said economic sector employment leapt by 216,000 tasks in November following a downwardly modified boost of 119,000 tasks in October.

Economic experts had actually expected work to climb by about 160,000 jobs compared to the addition of 147,000 tasks originally reported for the previous month.

Ahu Yildirmaz, vice president and head of the ADP Research Institute, stated job growth was seen in mostly consumer-driven industries like retail, leisure and hospitality.

Employment in the service-providing sector surged up by 228,000 jobs, while the goods-producing sector lost 11,000 tasks.

The report also stated employment at small company increased by 37,000 tasks, while medium and big businesses included 89,000 and 90,000 tasks, respectively.

Mark Zandi, primary economist of Moody’s Analytics, said, “Services worked with aggressively in November and there is little evidence that the unpredictability surrounding the governmental election dampened hiring.”

“In addition, due to the fact that of the tightening labor market, sellers may be accelerating seasonal employing to secure an appropriate labor force to satisfy holiday need, although overall anticipated seasonal hiring might be no higher than last year’s,” he included.

Friday morning, the Labor Department is set up to launch its more closely seen monthly work report, that includes both private and public sector jobs.

Employment is anticipated to increase by 170,000 tasks in November after climbing up by 161,000 jobs in October. The joblessness rate is expected to hold at 4.9 percent.

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TURKISH TREASURY SEES DECEMBER DOMESTIC FINANCIAL OBLIGATION REDEMPTIONS 5.3 BLN LIRA, BORROWING 5.1 BLN LIRA
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