USD/CAD revenue target reached perfectly, prepare to buy

By | May 22, 2017

Rate has actually dropped and reached our profit target perfectly. We prepare to buy above 1.3503 support(Fibonacci retracement, Fibonacci extension, horizontal overlap support, Elliott wave theory) for a rise to 1.3641 resistance(Fibonacci retracement, horizontal overlap resistance).

RSI (34) sees strong horizontal support above our 36% level.Buy above 1.3503. Stop loss at 1.3419. Take earnings at 1.3641.

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

Jonathon Alexander

Technical analysis of USD/JPY for May 22, 2017 888011000 110888 USD/JPY is expected to trade with a bullish predisposition above 111.00. The set is trading above the crucial assistance at 111.00(the low of May 19 ), which need to restrict the downside potential. The relative strength index does not have downward momentum. Thus, as long as 111.00 is not broken, search for a rebound to 111.75(the high of May 18). A break above this level would set off another advantage to 112.20. The set is trading above its pivot point. It is likely to sell a larger range as long as it remains above its pivot point. Long positions are advised with the first target at 111.75 and the 2nd one at 112.20. In the option circumstance, short position is recommended with the very first target at 110.65 if the price moves below its pivot points. A break of this target may push the pair additional downwards, and one might anticipate the 2nd target at 110.25. The pivot point is at 111.00. Resistance levels: 111.75, 112.20, and 112.50 Support levels: 110.65, 110.25, and 110 The material has been offered by InstaForex Company-www.instaforex.com

By | May 22, 2017

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USD/JPY is expected to trade with a bullish bias above 111.00. The pair is trading above the key support at 111.00 (the low of May 19), which should limit the downside potential. The relative strength index lacks downward momentum.

Hence, as long as 111.00 is not broken, look for a rebound to 111.75 (the high of May 18). A break above this level would trigger another upside to 112.20.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 111.75 and the second one at 112.20. In the alternative scenario, short position is recommended with the first target at 110.65 if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 110.25. The pivot point is at 111.00.

Resistance levels: 111.75, 112.20, and 112.50

Support levels: 110.65, 110.25, and 110

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

Jonathon Alexander

Technical analysis of USD/CHF for May 22, 2017 888011000 110888 USD/CHF is expected to extend its drawback movement. The set is holding on the downside. The downward momentum isfurther reinforced by the declining 20-period and 50-period moving averages. The relative strength index is mixed to bearish. On the financial data front, the economic calendar does not have first-tier financial reports from the United States. In Europe, the initial figure of eurozone customer self-confidence index in Might reached -3.3 vs -3 expected and -3.6 in April.Therefore, as long as 0.9765holds on the upside, I anticipate an additional drop to 0.9660 and even to 0.9635 in extension. Resistance levels: 0.9790, 0.9825, and 0.98555 Support levels : 0.9660, 0.9635, and 0.9600 The material has actually been provided by InstaForex Company-www.instaforex.com

By | May 22, 2017

USDCHFM30.png

USD/CHF is expected to extend its downside movement. The pair is holding on the downside. The downward momentum is further reinforced by the declining 20-period and 50-period moving averages. The relative strength index is mixed to bearish.

On the economic data front, the economic calendar lacks first-tier economic reports from the US. In Europe, the preliminary figure of eurozone consumer confidence index in May reached -3.3 vs -3 expected and -3.6 in April.

Therefore, as long as 0.9765 holds on the upside, I expect a further drop to 0.9660 and even to 0.9635 in extension.

Resistance levels: 0.9790, 0.9825, and 0.98555

Support levels: 0.9660, 0.9635, and 0.9600

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

Jonathon Alexander

Technical analysis of NZD/USD for May 22, 2017 888011000 110888 NZD/USD is anticipated to sell a greater variety. The pair tape-recorded greater tops and greater bottoms because May 19, which verified the bullish outlook. The upward momentum is further strengthened by the increasing 20-period and 50-period moving averages. The relative strength index is blended to bullish.To conclude, as long as 0.6930 holds on the downside, search for a brand-new rise to 0.7000 as well as to 0.7015 in extension. The pair is trading above its pivot point. It is most likely to sell a larger variety as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 0.7000 and the second one at 0.7015. In the option scenario, brief position is suggested with the first target at 0.6915 if the price moves below its pivot points. A break of this target might push the set further downwards, and one may expect the 2nd target at 0.6900. The pivot point is at 0.6930. Resistance levels: 0.7000, 0.7015, and 0.7045 Assistance levels: 0.6915, 0.6900, and 0.6855 The material has actually been offered by InstaForex Business-www.instaforex.com

By | May 22, 2017

NZDUSDM30.png

NZD/USD is expected to trade in a higher range. The pair recorded higher tops and higher bottoms since May 19, which confirmed the bullish outlook. The upward momentum is further reinforced by the rising 20-period and 50-period moving averages. The relative strength index is mixed to bullish.

To conclude, as long as 0.6930 holds on the downside, look for a new rise to 0.7000 and even to 0.7015 in extension.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 0.7000 and the second one at 0.7015. In the alternative scenario, short position is recommended with the first target at 0.6915 if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 0.6900. The pivot point is at 0.6930.

Resistance levels: 0.7000, 0.7015, and 0.7045

Support levels: 0.6915, 0.6900, and 0.6855

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

Jonathon Alexander

Europe Roundup: Sterling Alleviates Below 1.300, Dollar Index Hits 6-1/2 Month Short on U.s. Political Concerns, Oil Rates Rally

By | May 22, 2017

Market Roundup EUR/USD -0.18 %, USD/JPY flat, GBP/USD -0.35%, EUR/GBP +0.17% DXY +0.15 %, DAX -0.38%, FTSE +0.33, Gold flat Merkel states Euro is & lsquo; too weak, ' makes German products more affordable In Israel, Trump says there is

“rare chance”for peace Germany

  • , France: low inflation, imbalances make
  • eurozone vulnerable Japan Apr trade surplus( Yen)
  • 481.7 bln vs projection 520.7 bln,' last 614.7 bln Saudi energy minister due in Iraq
  • to talk about extension to oil output cuts; Brent +0.75%China '
  • s favored trade deal in focus at Asian meeting Germany, France: low inflation, imbalances make eurozone vulnerable Germany ' s Schaeuble presses back in Greece financial obligation relief row
  • Economic Data Ahead(0830 ET/1230 GMT )The Federal Reserve Bank of Chicago will release its Chicago Fed National Activity Index(CFNAI )for the month of April. The index stood at 0.08 in
  • the previous month.( 0900 ET/1300 GMT )Mexico releases data on its gross domestic product(
  • GDP)growth in the first quarter. The economy grew at a rate of 0.7 percent in the 4th quarter. Key Occasions Ahead

    • (1005 ET/1405 GMT) Federal Reserve Bank of Philadelphia President Patrick Harker speaks on”The Link In between Physical and Economic Health and wellbeing “before a Jefferson College of Health Professions and Jefferson College
    • of Drug store Commencement Ceremony in Philadelphia.( 1030 ET/1430 GMT) Minneapolis Fed chief Neel Kashkari will offer quick welcome remarks prior to the very first conference

    of the Chance

    • and Inclusive Development Institute in Minneapolis. (1145 ET/1545 GMT)FedTrade Operation 15-year Fannie Mae/ Freddie Mac(max$525 mn) (1930 ET/2330 GMT)Federal Reserve Board Guv Lael Brainard speaks on” The Roles of Opportunity and Inclusion in Enhancing
    • the United States Economy “.(2110 ET/0110 GMT )Federal Reserve Bank of Chicago will release the text of President Charles Evans ' ready remarks to the”Seminar on OTC Derivatives”at the 58th Shanghai Cleaning House
    • Online forum on Policy and Practice-Default Management in Shanghai, China. FX Beat DXY: The dollar toppled to
    • a multi-month trough versus the euro as improving financial prospects for Europe weakened dollar bulls & rsquo; sentiment. The greenback versus a basket of currencies traded 0.1 percent
    • down at 97.01, having actually struck a low of 96.94 earlier, it & rsquo; s most affordable because Nov. 9. FxWirePro ' s Hourly Dollar Strength Index stood at -127.58( Highly Bearish)by 0500 GMT. EUR/USD: The euro rallied to a fresh 6-1/2 month high as the greenback toppled to multi-week

      lows following the

      remarks from the German Chancellor Merkel on the European currency. Nevertheless, the benefit appears restricted as financiers turn cautious ahead of Trump’ & rsquo; s Welcome address in Israel. The major traded 0.2 percent up 1.1233, having touched a high of 1.1236 earlier, its greatest considering that Nov. 9. FxWirePro ' s Per hour Euro Strength Index stood at 141.07( Extremely Bullish)by 1100

      GMT. On the lower side, any break below will drag the pair down till 1.1020 (resistance become assistance)/ 1.1000/ 1.0950/ 1.0830(200-day MA). The near term resistance is around 1.12990 high made on Nov 2019 and any breaking above the top formed will take it till 1.1360/ 1.1400. USD/JPY: The dollar steadied above the 111.00 deal with as financiers & rsquo; waited for speeches from the FOMC member L. Brainard, Philly Fed P. Harker and Minneapolis Fed N.Kashkari for additional clues on the Fed interest rate outlook. The significant traded 0.1 percent up at 111.43, having touched a low of 110.23 on Thursday, its lowest because Apr 25. FxWirePro ' s Per hour Yen Strength Index stood at -79.22 (A little Bearish) by 1100 GMT. The major discovers strong support at weekly 200-SMA at 110.56. On the upside, close above 50-DMA at 111.41 could see pullback

      up to 112.15. GBP/USD: Sterling declined listed below the 1.3000 deal with following the’ UK PM Theresa May ' s remarks to walk away from the negotiations if the country deals with such & euro; 100 billion massive separation expense as claimed by the EU officials. Renewed concerns over the Brexit negotiations will continue to weigh on market belief. Sterling trades 0.3 percent down at 1.2989, having hit a high of 1.3047 on Thursday, its greatest considering that Sept. 29. FxWirePro ' s Hourly Sterling Strength Index stood at -88.11( Slightly Bearish )by 1100 GMT. On the greater side, any close above 1.3050

      validates bullish continuation and a jump till 1.3088/ 13120 likely. The major assistance is around 1.2965 (resistance developed into support) and any break below will €drag the pair down till 1.2900/ 1.2860. Against the euro, the pound traded 0.6 percent down at 86.47 pence, having struck a fresh 1-1/2 month low of 86.48 earlier. USD/CHF: The Swiss franc increased to a fresh 6-1/2 month high as growing geopolitical stress in the U.S. and the Eurozone reinforced need for safe-haven properties. The major slumped 0.2 percent to 0.9705, having hit a fresh low of 0.9700 earlier, its weakest considering that Nov 9. FxWirePro ' s Hourly Swiss Franc Strength Index stood at 130.04(Extremely Bullish )by 1100 GMT. The near term significant support is around 0.9705( 50%retracement of 0.90719 and 1.03436)/ 0.9640. On the higher side, near term resistance is around 0.9850(89 W EMA)and any break above will take it till 0.9900/ 0.9960(200-day MA)

      . The pair is neutral phase for the long term and it should break above 1.03435 for additional bullishness. AUD/USD: The Australian dollar rose to a 2-week high as a rebound in oil and copper prices supported the quote tone around the major. The Aussie trades 0.3 percent up at 0.7469, having hit an early high of 0.7473, it & rsquo; s strongest because May. 3. FxWirePro ' s Hourly Aussie Strength Index stood at 55.06( Bullish )by 1100 GMT. On the lower side, near term assistance is around 0.7385 (61.8% retracement of 0.71599 and 0.77493)and any close below will drag the set till 0.7325/ 0.7300. The near term resistance is around 0.7470 (daily Kijun-Sen)and any close above targets 0.7520 (89 day EMA ). Equities Wrap up European shares tumbled in early trade as growing politicalunpredictability in Spain, Britain and Brussels weighed on investors belief. The pan-European STOXX 600 index fell 0.1 percent to 390.91 points, while the FTSEurofirst 300 index lost 0.1 percent to 1,536.63 points. Britain ' s FTSE 100 trades’0.4 percent up at 7,501.70 points, while'mid-cap FTSE 250 rallied 0.4 percent to 19,891.80 points. Germany ' s DAX decreased 0.5 percent at 12,575.55 points; France ' s CAC 40 trades 0.05 percent lower at 5,321.83 points. Commodities Recap Crude oil rates rallied to a fresh 1-month high, enhanced by self-confidence that OPEC and other exporters will today accept extend supply curbs. International benchmark

      Brent crude was trading 0.5

      percent up at$54.07 per barrel by 1044 GMT, having struck a high of$54.14 earlier, its greatest because Apr. 19. U.S. West Texas Intermediate acquired

      0.4 percent to$51.12 a barrel, after rising as high as$ 51.23, its greatest since Apr. 19. Gold costs got as political turmoil surrounding

      U.S. President Donald Trump reinforced the metal ' s safe-haven appeal. Spot gold increased 0.1 percent $1,256.12 per ounce, since 1048 GMT, having dropped from on a near 3-week high on Thursday. U.S. gold futures were up 0.1 percent at$1,254.70 an ounce. Treasuries

      Recap

      The U.S. Treasuries lost ground ahead of the Federal Open Market Committee (FOMC)member Harker and Kashkari & rsquo; s set up speech later in the day. The yield on the benchmark 10-year Treasury, increased nearly 1 basis point to 2.5 percent, the super-long 30-year bond yields traded flat at 2.90 percent and the yield on short-term 2-year note plunged 1-1/2 basis points to 1.29 percent. The UK gilts stayed blended as investors wait to view the nation & rsquo; s Prime Minister Theresa May speak later in the day. The yield on the benchmark 10-year gilts, traded flat at 1.09 percent, the super-long 30-year bond yields climbed up almost 1/2 basis indicate 1.72 percent while the yield on the short-term 2-year traded almost 1 basis point lower at 0.11 percent. The German bunds traded narrowly blended ahead of a meeting of the

      Eurogroup ministers later in

      the day. The yield on the standard 10-year bond, hovered around 0.38 percent, the long-lasting 30-year bond yields increased 1 basis indicate 1.21 percent while the yield on short-term 2-year bond traded nearly 1 basis point lower at -0.68 percent. The Australian bonds traded range-bound as financiers stay aloof from major trading activity amid indications of possible soft session as market does not have

      release of any prominent data. The yield on the benchmark 10-year Treasury note, rose 1/2 basis point to 2.50 percent, the yield on 15-year note hovered around 2.91 percent and the yield on short-term 1-year crawled almost 1/2 basis point higher at 1.63 percent.The product has been supplied by InstaForex Company-www.instaforex.com

  • Jonathon Alexander

    Poland Economy Begins Q2 on Strong Note, However Absence of Inflationary Pressure to Keep Nbp’s Easy Monetary Stance Intact

    By | May 22, 2017

    The Monetary Policy Council of the National Bank of Poland(NBP)chose to keep the rate of interest on hold at last week ' s conference and suggested that it may not begin to raise interest rates next year as analysts had forecasted. The Council noted that inflation in the quarters ahead is expected to stay moderate in the middle of waning effects of the past increase in global product rates, with simply a gradual rise in domestic inflationary pressure stemming from rebounding domestic economic conditions. The recommendation rate was kept the same at 1.5 percent, while the Lombard rate, deposit rate and rediscount rate were kept on hold at 2.5 percent, 0.5 percent and 1.75 percent. NBP governor Adam Glapinski said the reserve bank might not have to trek rates till the end of 2018. He said the economy was balanced, core inflation stayed low and the zloty was at the ideal levels. Data for April, released by the Polish Statistical Office showed that Polish commercial production data for April dissatisfied. Headline commercial output made a splash by falling 0.6 percent y/y missing out on expectations of

    1.9 percent boost. Seasonally-adjusted industrial production grew by 4 percent y/y. Data revealed that the trend in Polish production accelerated significantly over the past quarter compared with a much shallower trend over the previous two years. Retail sales data likewise increased extremely highly in April. In genuine terms, they grew by 6.7 percent year on year, recommending that household intake in Poland is growing at a robust rate. The overall impression from “hard “macro data is that general GDP development in the 2nd quarter will

    also be really strong. Analysts likewise think that Polish growth might still remain healthy, but the acceleration of Q1 might not repeat. Moody & rsquo; s rankings firm declared its A2 rating for Poland and altered the outlook from negative to steady. PPI inflation in Poland moderated by more than anticipated, indicating an absence of inflationary pressure. On the other hand, core inflation, though slowly increasing, remains low, which indicates towards still restricted need pressure. In spite of rising work and wages, development in unit labor expenses remains moderate. Nevertheless, inflation is very unlikely to reach even the NBP & rsquo; s inflation target(2.5 percent). “The official interest rates of the National Bank of Poland must remain unchanged throughout the year, although inflation will rise this year. The NBP will keep an ultra-easy financial position as an outcome of which we see EUR-PLN rising over coming months,”said KBC Markets in a report. EUR/PLN was trading at 4.1914 at around 1200 GMT. FxWirePro ' s Per hour EUR Area Index

    was at 141.078( Bullish). For more details on FxWirePro ' s Currency Strength Index, check out http://www.fxwirepro.com/currencyindex!.?.!.The product has actually been offered by InstaForex Company -www.instaforex.com

    Jonathon Alexander

    EUR/JPY analysis for May 22, 2017 888011000 110888 Recently, the EUR/USD set has actually been trading upwards. The price evaluated the level of 1.1246. Inning accordance with the 30M amount of time, I found broken Friday’s high at the rate of 1.1210. Purchasers are in control on this currency set. My guidance is to expect prospective buying chances. I have actuallypositioned Fibonacci growth to discover prospective upward targets. I gotFibonacci growth 100%at the costof 1.1290. Resistance levels: R1: 1.1195 R2: 1.1215 R3: 1.1230 Support levels: S1: 1.1160 S2: 1.1143 S3: 1.1120 Trading recommendations for today: look for possible purchasing opportunities.The product has actually been supplied by InstaForex Business-www.instaforex.com

    By | May 22, 2017

    analytics5922cdb230976.png

    Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1246. According to the 30M time frame, I found broken Friday’s high at the price of 1.1210. Buyers are in control on this currency pair. My advice is to watch for potential buying opportunities. I have placed Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 100% at the price of 1.1290.

    Resistance levels:

    R1: 1.1195

    R2: 1.1215

    R3: 1.1230

    Support levels:

    S1: 1.1160

    S2: 1.1143

    S3: 1.1120

    Trading recommendations for today: watch for potential buying opportunities.

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

    Jonathon Alexander

    USD/JPY analysis for May 22, 2017 888011000 110888 Just recently, the USD/JPY set has actually been trading sideways at the price of 111.40. Anyhow, I discovered a supply pattern line, which is holding extremely well. My advice is to watch for prospective selling opportunities. Theshort-term trend is still down. Down targets are set atthe cost of 111.05(Friday’s low)and 110.25. Resistance levels: R1: 111.35 R2: 111.42 R3: 111.55 Support levels: S1: 111.10 S2: 111.00 S3:110.90 Trading recommendations for today: look for possible selling opportunities.The material has actually been offered by InstaForex Business-www.instaforex.com

    By | May 22, 2017

    analytics5922ca9051812.png

    Recently, the USD/JPY pair has been trading sideways at the price of 111.40. Anyway, I found a supply trend line, which is holding very well. My advice is to watch for potential selling opportunities. The short-term trend is still downward. Downward targets are set at the price of 111.05 (Friday’s low) and 110.25.

    Resistance levels:

    R1: 111.35

    R2: 111.42

    R3: 111.55

    Support levels:

    S1: 111.10

    S2: 111.00

    S3: 110.90

    Trading recommendations for today: watch for potential selling opportunities.

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

    Jonathon Alexander

    Technical analysis of EUR/USD for May 22, 2017 888011000 110888 When the European market opens, some financial occasions will take place such as the Eurogroup’s meetings and the German Buba month-to-month report. At the very same time, the economic calendar ofthe United States does not have any first-tier news. Therefore, amidst the reports EUR/USD will move with low to medium volatility today.TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.1255. Strong Resistance: 1.1249.Initial Resistance: 1.1238. Inner Offer Area: 1.1227.Target Inner Area: 1.1201. Inner Buy Location: 1.1175.Initial Support: 1.1164. Strong Assistance: 1.1153. Breakout SELL Level: 1.1147. Disclaimer: Trading Forex( foreign exchange )on margin brings a high level of threat, and may not appropriate for all investors. The high degree of take advantage of can work versus you along with for you. Before choosing to buy foreign exchange you need to carefully consider your investment objectives, level of experience, and threat appetite. The possibility exists that you might sustain a loss of some or all of your initial investment and therefore you must not invest money that you can not afford to lose. You must know all the dangers related to forex trading, and seek advice from an independent monetary advisor if you have any doubts.The material has actually been supplied by InstaForex Company-www.instaforex.com

    By | May 22, 2017

    1495449463_EURUSD.jpg

    When the European market opens, some economic events will take place such as the Eurogroup’s meetings and the German Buba monthly report. At the same time, the economic calendar of the United States lacks any first-tier news. Therefore, amid the reports EUR/USD will move with low to medium volatility today.

    TODAY’S TECHNICAL LEVELS:

    Breakout BUY Level: 1.1255.

    Strong Resistance: 1.1249.

    Original Resistance: 1.1238.

    Inner Sell Area: 1.1227.

    Target Inner Area: 1.1201.

    Inner Buy Area: 1.1175.

    Original Support: 1.1164.

    Strong Support: 1.1153.

    Breakout SELL Level: 1.1147.

    Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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

    Jonathon Alexander

    Asian Markets Start a New Week on a Positive Note, Gold Marginally Lower at $1,252 Mark

    By | May 22, 2017

    All the major Asian indices were trading on a higher note Monday. Gold was trading around $1,252 mark while silver was trading around $16.85 mark.

    Japan’s Nikkei was trading 0.45 pct higher at 19,678.50 points.

    Hong Kong’s Hang seng was trading 0.90 percent higher at 25,398.00 points.

    Australia’s S&P ASX200 was trading 0.81 percent higher at 5,773 points.

    Shanghai composite index to open down 0.1 pct at 3,087.17 points and China's CSI300 index to open down 0.1 pct at 3,400.59 points.

    South Korea’s Kospi was trading 0.46 pct higher at 2,299.62 points.

    Taiwan’s market was trading 0.33 percent higher at 9,980.31 points.

    India’s NSE Nifty was trading around 0.40 percent higher at 9,465.55 points and BSE Sensex was trading at 0.50 percent higher at 30,624.46 points.

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

    Jonathon Alexander