Worldwide macro overview for 30/11/2016

By | November 30, 2016

Global macro summary for 30/11/2016: The Bank of England provided the Financial Stability Report this morning. The basic conclusion is, that outlook for UK monetary stability”stays difficult”. The outcomes of the Bank of England’s most current stress tests on the UK’s major lending institutions revealed, that RBS failed on all metrics, while Barclays and Requirement Chartered both missed out on one metric(the other banks being evaluated were Santander UK, Lloyds Banking Group, HSBC, and Nationwide). The results showed, that the EU and UK economies could suffer if the EU rapidly loses access to UK-provided monetary services. There is still a risk of additional cost falls in UK industrial real estate, so the UK’s big existing account deficit is now vulnerable to a reduction in foreign financiers cravings. In conclusion, the first cautionary words regarding the UK banking system were released considering that Brexit, however the financial markets remain calm as the majority of the UK banks are still in an overall good condition.Let’s now take a look at the GBP/USD technical photo in the 4H timespan. The market is still trading horizontally, bound between 2 important levels, technical support at the level of 1.2334 and technical resistance at the level of 1.2511. Market individuals are still waiting for a trigger that will enable the breakout in either direction.

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Jonathon Alexander

<aUSD/CAD intraday technical levels and trading recommendations for November 30, 2016 888011000 110888 On May 16, a bullish pullback to 1.3000 (61.8%Fibonacci level)was expected to provide a legitimate signal to sell the USD/CAD pair. However, an absence of a considerable bearish rejection was manifested during recent consolidations.On May 18, short-lived bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way to the 1.3180 level whereconsiderable bearish pressure was originated.Bearish persistence listed below 1.3000-1.2970 (61.8% Fibonacci level) was had to boost bearish momentum in the market.However, on August 18 signs of bullish recovery appearedaround the price level of 1.2830 which resulted in the current bullish breakout above 1.3000. The USD/CAD set was trapped in between the price levels of 1.3000(61.8 %Fibonacci level)and 1.3360(50%Fibonacci level)till bullish breakout happened three weeks ago.Note that the USD/CAD pair was challenging the ceiling of the portrayed flag pattern around 1.3360-1.3400 which failed to use adequate bearish pressure on the pair.Bullish determination above 1.3360 will most likely liberate a quick bullish motion to 1.3650 unless the pair concerns close below 1.3360 prior to completion of the current week.The product has been offered by InstaForex Business – www.instaforex.com

By | November 30, 2016

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On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of a significant bearish rejection was manifested during recent consolidations.

On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where significant bearish pressure was originated.

Bearish persistence below 1.3000-1.2970 (61.8% Fibonacci level) was needed to enhance bearish momentum in the market.

However, on August 18 signs of bullish recovery were manifested around the price level of 1.2830 which led to the current bullish breakout above 1.3000.

The USD/CAD pair was trapped between the price levels of 1.3000 (61.8% Fibonacci level) and 1.3360 (50% Fibonacci level) until bullish breakout took place three weeks ago.

Note that the USD/CAD pair was challenging the upper limit of the depicted flag pattern around 1.3360-1.3400 which failed to apply enough bearish pressure on the pair.

Bullish persistence above 1.3360 will probably liberate a quick bullish movement towards 1.3650 unless the pair comes to close below 1.3360 before the end of the current week.

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

Jonathon Alexander

NZD/USD Intraday technical levels and trading suggestions for November 30, 2016 888011000 110888 As long as the NZD/USD pair continued trading above 0.6860, even more bullish advance was anticipated to the ceiling of the portrayed channel around 0.7400. Throughout August and September, a debt consolidation range was established from the rate level of 0.7250 as much as 0.7350. Later October 20, the lowerlimit of the combination variety( 0.7250 )stood as a short-term resistance which initiated a bearish movement to 0.7100(the lower limitof the portrayed channel). Bullish recovery was revealed around the cost level of 0.7100 on October 28. A double-bottom pattern was expressed onthe chart.Bullish fixation above 0.7250 and 0.7350 was needed to permit more bullish advance towards the forecasted target of the reversal pattern around 0.7450. Significant indications of a bearish turnaround were expressed around the upper limit of the cost range (0.7350 ). The bearish breakdown of 0.7250( lower limitation of theillustrated variety)enhanced the bearish side of the market to the cost level of 0.7100(current bottom of October 28) which was broken as well.Bearish persistence below 0.7100 allows fast bearish decrease towards 0.6960 (BUY zone )where bullish rejection and a valid BUY entry was expected. S/L needs to be placed listed below 0.6900. On the other hand, the existing bullish pullback to 0.7120 ought to be considered for offering the NZD/USD pair as it makes up a recent resistance level to be considered. S/L ought to be set as everyday closure above 0.7200. The material has been provided by InstaForex Company- www.instaforex.com

By | November 30, 2016

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As long as the NZD/USD pair continued trading above 0.6860, further bullish advance was expected towards the upper limit of the depicted channel around 0.7400.

During August and September, a consolidation range was established from the price level of 0.7250 up to 0.7350.

Later on October 20, the lower limit of the consolidation range (0.7250) stood as a temporary resistance which initiated a bearish movement towards 0.7100 (the lower limit of the depicted channel).

Bullish recovery was expressed around the price level of 0.7100 on October 28. Hence, a double-bottom pattern was expressed on the chart.

Bullish fixation above 0.7250 and 0.7350 was needed to allow further bullish advance towards the projected target of the reversal pattern around 0.7450.

However, significant signs of a bearish reversal were expressed around the upper limit of the price range (0.7350).

The bearish breakdown of 0.7250 (lower limit of the depicted range) enhanced the bearish side of the market towards the price level of 0.7100 (recent bottom of October 28) which was broken as well.

Bearish persistence below 0.7100 allows quick bearish decline towards 0.6960 (BUY zone) where bullish rejection and a valid BUY entry was expected. S/L should be placed below 0.6900.

On the other hand, the current bullish pullback towards 0.7120 should be considered for selling the NZD/USD pair as it constitutes a recent resistance level to be considered. S/L should be set as daily closure above 0.7200.

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

Jonathon Alexander

Estonia Retail Sales Increase For 3rd Month

By | November 30, 2016

Estonia’s retail sales increased for the third successive month in October, figures from Stats Estonia revealed Wednesday.

The volume of retail sales leaving out vehicles increased 2.0 percent year-over-year in October, slower than the 3.0 percent climb in the previous month.

The turnover of stores selling produced goods surged 10.0 percent yearly in October, while sales at grocery stores revealed no variations.

The deceleration in turnover growth was affected the most by business taking part in the retail sales of automotive fuel, where the sales plunged 12 percent compared with October 2015, the agency said.

On a regular monthly basis, retail sales gained 3.0 percent in October, reversing a 6.0 percent decrease in the previous month.

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

Jonathon Alexander

South Korea Industrial Output Slips 1.7% In October

By | November 29, 2016

Industrial production in South Korea was down 1.7 percent on month in October, Statistics Korea said on Wednesday.

That followed the 0.6 percent increase in September.

On a yearly basis, industrial output sank 1.6 percent after falling 1.7 percent in the previous month.

The index of all industry production in October fell 0.4 percent on month but gained 2.0 percent on year.

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

Jonathon Alexander

France Oct Customer Investing Beats Expectations Driven by Sharp Rebound in Energy Consumption

By | November 29, 2016

France consumer spending during the month of October rose more-than-expected. Authorities data released by France Data firm INSEE showed on Tuesday that French customer spending rose to a seasonally adjusted 0.9 percent from -0.4 percent in the preceding month(modified down from -0.2 percent ). Information beat expectations for an increase of 0.4 percent. Gains were mainly driven by sharp rebound in energy consumption. Information of the report showed

that spendings on energy and purchases of family durables and of clothes got markedly. Energy usage recuperated sharply to +3.6 percent after a & minus; 1.8 percent drop in the previous month.

Purchases of family durables recuperated after three consecutive month −of decline, was up +2.5 percent after & minus; 0.4 percent fall in September. FxWirePro ' s Hourly EUR Spot Index was at 78.0777(Slightly bullish), while Hourly USD Area Index was at -98.5145

(Extremely bearish) at 1200 GMT. For more details on FxWirePro ' s Currency Strength Index, visit http://www.fxwirepro.com/currencyindex!.?.!.The material has been supplied by InstaForex Company- www.instaforex.com

Jonathon Alexander