Trading prepare for 18/08/2017: The US Dollar is losing versus all major currencies. The strongest are GBP, JPY, and SEK. The international financiers are shocked after the other day’s attacks in Barcelona: Gold lost 0.1%, Silver is down 0.35%. On the Asian stock exchange sentiment is still negative: Nikkei drops -1.2%, Hang Seng -0.55%, Shanghai Composite gains + 0.1 %. In the United States Nasdaq 100 falls -2.05 %,
the S&P 500 -1.54 % and the Dow Jones -1.24 %. On Friday 18th of August, the event calendar is busy in a crucial news release just during the United States session. During this session, Canada will release Customer Cost Index information and the United States will release Initial UoM Consumer Belief and Baker Hughes U.S. Rig Count data. At the end of the trading day, there is a scheduled speech by FOMC member Robert Kaplan.EUR/ USD analysis for 18/08/2017:
The Preliminary UoM Consumer Sentiment Indicator data are arranged for release at 02:00 pm GMT and the mid-August belief index is anticipated to climb to 94.5 from 93.4 at the end of July. The consumer sentiment index fell in June and July but still remained at relatively elevated levels. The quick succumb to 2 months, in spite of the still-improving US labor market and stock exchange trading near all-time-highs, most likely mirrors political concerns, both on the domestic and the worldwide level. The political divisions are still substantial, however the sentiment divergence appears to be decreasing. While supporters of the Democratic celebration still hold a really negative economic outlook, fans of the Republican celebration have rather moderated their optimistic outlook. None of the reforms assured during the Trump’s governmental project (tax reform, Obamacare reform) have been finished and introduced to the United States society. This event will certainly weight soon on the general sentiment levels in the United States, even amongst the Trump advocates. In the outcome, the weakening in the belief level will straight affect the United States Dollar, pressing it to even lower levels than it is now.Let’s now have a look at the EUR/USD technical photo at the H4 timespan. The marketplace is gradually moving lower to the crucial technical assistance at the level of 1.1614, but the whole relocation looks like a part of the bullish flag pattern. The momentum is still too weak to move above its fifty level, but when it does prior to the support is violated, then the swing high at the level of 1.1908 will likely to be evaluated again (and potentially broken).
Market Picture: Gold simply listed below the essential resistance After the terrorist attack in Barcelona, the cost of Gold is climbing higher towards the crucial technical resistance at the level of $1297. The next technical resistance is seen at the level of $1308 if this level if breached. The increasing momentum is supporting the bullish view.
Market Picture: USD/JPY close to the
support The cost of USD/JPY reversed from the technical resistance at the level of 111.04 and now is getting close to the technical assistance at the level of 108.79. The momentum points down and the stochastic oscillator is still negative, so it is likely this support will be tested and broken. The next technical support is seen at the level of 108.47.
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