Technical analysis of EUR/USD for May 31, 2017 888011000 110888 When the European market opens, some Economic Data will be launched, such as Unemployment Rate, Italian Prelim CPI m/m, Core CPI Flash Quote y/y, CPI Flash Quote y/y, Italian Month-to-month Unemployment Rate, German Joblessness Modification, French Prelim CPI m/m, and German Retail Sales m/m. The United States will launch the Economic Data, too, such as Beige Book, Pending Home Sales m/m, and Chicago PMI, so, amid the reports, EUR/USD will move in a low to mediumvolatility during this day.TODAY’S TECHNICALLEVEL: Breakout BUYLevel: 1.1225.Strong Resistance:1.1219. Initial Resistance: 1.1208. Inner Offer Location: 1.1197.Target Inner Location: 1.1171.Inner Buy Location: 1.1145. Initial Assistance: 1.1134. Strong Assistance: 1.1123. Breakout OFFER Level: 1.1117. Disclaimer: Trading Forex(foreign exchange)on margin brings a high level of risk, and might not be suitable for all investors. The high degree of take advantage of can work against you as well as for you. Before choosing to buy foreign exchange you need to carefully consider your investment goals, level of experience, and risk hunger. The possibility exists that you could sustain a loss of some or all of your preliminary financial investment and therefore you must not invest cash that you can not afford to lose. You ought to be aware of all the threats associated with forex trading, and seek advice from an independent financial consultant if you have any doubts.The product has actually been provided by InstaForex Business-www.instaforex.com

By | May 31, 2017

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When the European market opens, some Economic Data will be released, such as Unemployment Rate, Italian Prelim CPI m/m, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Monthly Unemployment Rate, German Unemployment Change, French Prelim CPI m/m, and German Retail Sales m/m. The US will release the Economic Data, too, such as Beige Book, Pending Home Sales m/m, and Chicago PMI, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY’S TECHNICAL LEVEL:

Breakout BUY Level: 1.1225.

Strong Resistance:1.1219.

Original Resistance: 1.1208.

Inner Sell Area: 1.1197.

Target Inner Area: 1.1171.

Inner Buy Area: 1.1145.

Original Support: 1.1134.

Strong Support: 1.1123.

Breakout SELL Level: 1.1117.

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

Americas Roundup: Dollar Weakens As Global Mood Turns Cautious, US Stocks Slip, Oil Prices Slide on Worries Libya Output

By | May 30, 2017

Market Roundup

• US Core PCE Price Index MM Apr 0.2% vs 0.1% forecast, -0.1% previous. • US Consumer Confidence May 117.9 vs 119.8 forecast, 119.4 previous. • US Consumption Adjusted MM Apr 0.4% vs 0.4% forecast, 0.3% previous. • US Personal Income MM Apr 0.4% vs 0.4% forecast, 0.2 previous. • US CaseShiller 20 YY 5.9% vs 5.7% forecast, 5.9% previous. • US Dallas Fed Mfg Bus Index May 17.2, 16.8 previous. • Atlanta Fed raises US Q2 GDP growth view to 3.8% from 3.7% calculated on May 26. • Two Fed banks supported discount rate rise before May meeting -minutes. • Fed's Brainard: another US rate hike likely appropriate soon, but slowing inflation a concern. • Brainard: expects to begin shrinking bond portfolio 'before too long', perhaps this year. • Trump's communications aide steps down as president grapples with Russia issue. • German foreign minister: we have a difficult situation now in ties with the US. • UK PM May's election landslide in doubt as poll lead slips. • Mexico central bank hikes shouldn't affect growth expectations-Carstens. • Brazil Supreme Court minister authorizes interrogation of President Temer – source.

Looking Ahead – Economic Data (GMT)

• 23:50 Japan Industrial Output Prelim Apr 4.3% forecast, -1.9 previous • 01:00 China NBS Mfg PMI May 51 forecast, 51.2 previous • 01:45 China Caixin Mfg PMI Final May 50.1 forecast, 50.3 previous • 01:30 Australia Private Sector Credit MM Apr 0.3% previous • 01:30 Australia Housing Credit MM Apr 0.5% previous • 01:00 New Zealand NBNZ Business Outlook May 11.0% previous

Looking Ahead – Events, Other Releases (GMT)

• No significant events

Currency Summaries EUR/USD is likely to find support at 1.1140 levels and currently trading at 1.1187 levels. The pair has made session high at 1.1205 and hit lows at 1.1160 levels. Euro rose against the dollar on Tuesday as the greenback was weighed down by a drop in U.S. Treasury yields amid a cautious global sentiment with political worries in Europe and weaker stock and commodity markets after a long U.S. holiday weekend. The euro gained as the dollar struggled. The dollar has been soft the past two weeks on concerns over U.S. President Donald Trump's administration. Benchmark U.S. 10-year Treasury yields fell to a more than one-week low, and the dollar was further undermined by weaker-than-expected U.S. consumer confidence data. U.S. consumer spending recorded its biggest increase in four months in April and monthly inflation rebounded. Consumer spending, accounting for more than two-thirds of U.S. economic activity, increased 0.4 percent last month. In late trading, the dollar index was down 0.1 percent at 97.30, with the euro up 0.2 percent at $1.1184. GBP/USD is supported in the range of 1.2833 levels and currently trading at 1.2858 levels. It reached session high at 1.2888 and dropped to session low at 1.2837 levels. Sterling strengthened against the dollar on Tuesday as investors shrugged off opinion polls showing British Prime Minister Theresa May's lead over the labour opposition narrowing less than two weeks before a general election. Polls last week showed the labour Party catching up with May's Conservatives, shaving off almost half of the pound's 4 percent gain since the election announcement as investors pulled back some bets that May would win by a landslide majority. But the belief May would win the election largely remained intact among investors as polls confirmed the narrowing trend still showed the Conservatives with a sizeable lead. Minutes after an ICM poll showed May's Conservatives Party's lead narrowing to 12 points from 14 points last week, sterling rose nearly half a percent on the day to touch $1.2860 its highest level since Friday. USD/CAD is supported at 1.3437 levels and is trading at 1.3462 levels. It has made session high at 1.3505 and lows at 1.3448 levels. The Canadian dollar strengthened against its U.S. counterpart on Tuesday as the risk-sensitive commodity-linked Canadian dollar gained after greenback gave up ground on concerns about the political outlook in Europe and U.S. economic growth. Canada's current account deficit widened more than expected in the first quarter of the year on an increase in imports of both good and services, data from Statistics Canada showed. The C$14.05 billion gap exceeded economists' expectations for a deficit of C$12 billion. Oil prices declined, keeping U.S. crude below the $50 a barrel mark, on concerns output cuts by the world's big exporters may not be sufficient to lessen a global glut that has depressed the market for almost three years. The Canadian dollar was last trading at C$1.3460 to the greenback. The currency traded in a range of C$1.3445 to C$1.3504. USD/JPY is supported around 110.50 levels and currently trading at 110.69 levels. It peaked to hit session high at 111.13 and made session lows at 110.63 levels. The U.S. dollar weakened against the Japanese yen on Tuesday as investors turned cautious amid political worries in Europe as well as weaker stock and commodity markets after a long U.S. holiday weekend. The lack of progress on tax cuts and other stimulus measures from Washington has also weighed on the greenback. Investors were concerned about next week's election in Britain, as well as the prospect of early elections in Italy and worries over Greek debt. Data showed that April U.S. consumer spending recorded its biggest increase in four months, while inflation rebounded. Consumer spending, accounting for more than two-thirds of U.S. economic activity, increased 0.4 percent last month. The so-called core personal consumption expenditure price index, the Fed's preferred inflation measure, also bounced back 0.2 percent. April's increase was the biggest since December and eased concerns about second-quarter economic growth after weak reports on core capital goods orders, the goods trade deficit and inventory investment in April. Consumer spending was previously reported to have been unchanged in March. Against the yen, the dollar dropped 0.5 percent to 110.77 yen, after earlier falling to a two-week trough of 110.67. Equities Recap European shares fell on Tuesday, marking their fourth straight day of losses, with banks leading the decline on fresh political jitters and following a downgrade by a top global broker. UK's benchmark FTSE 100 closed down by 0.3 percent, the pan-European FTSEurofirst 300 ended the day down by 0.23 percent, Germany's Dax ended down by 0.3 percent, France’s CAC finished the day down by 0.6 percent. U.S. stocks dipped on Tuesday, with the S&P 500 retreating from a record closing high as weakness in the energy and financial sectors outweighed gains in technology shares. Dow Jones closed down by 0.125 percent, S&P 500 ended down 0.12 percent, Nasdaq finished the day down by 0.12 percent. Treasuries Recap  Yields on most U.S. Treasury bonds and notes fell to their lowest levels in more than a week on Tuesday on month-end buying and after U.S. inflation data reinforced doubts that the Federal Reserve would raise interest rates more than one more time in 2017. Yields on U.S. Treasuries maturing between three and 30 years hit their lowest levels in 12 days. Benchmark 10-year U.S. Treasury yields touched 2.211 percent and 30-year yields hit 2.881 percent. Commodities Recap Gold prices eased after hitting a one-month high on Tuesday as economic data from the United States showed increased signs that the Federal Reserve would raise interest rates next month. Spot gold touched a one-month high of $1,270.47 before pulling back 0.3 percent to $1,262.76 per ounce by 2:15 p.m. EDT (1815 GMT). U.S. gold futures slipped to end the session 0.5 percent lower at $1,262.1 an ounce. Oil prices fell about 1 percent on Tuesday, on signs of resurgent crude output in Libya and concerns that extended production cuts by leading exporting countries may not be enough to drain a global glut that has depressed prices for almost three years.
​
Brent crude ended the session 45 cents, or 0.9 percent, lower at $51.84 a barrel, while U.S. light crude fell 14 cents, or 0.3 percent, to $49.66.

 

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

Jonathon Alexander

Daily analysis of USD/JPY for May 30, 2017 888011000 110888 Introduction The USD/JPY pair did not show any strong moves yesterday and stayed near to the bearish channel’s resistance. Therefore, we anticipate no change in the bearish circumstance that depends on holding listed below 111.60, supported by the EMA50 and stochastic’s negativity. Now we are waiting till the pair gos to 109.00 as the first target. Breaking the targeted level represents the essential to extend the bearish wave towards 106.63, while breaching 111.60 will press the rate to turn to rise on the intraday basis to check 113.97 generally. The expected trading range for today is between 110.00 support and 112.00 resistance. The product has been provided by InstaForex Business-www.instaforex.com

By | May 30, 2017

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Overview

The USD/JPY pair did not show any strong moves yesterday and remained near to the bearish channel’s resistance. Thus, we expect no change in the bearish scenario that depends on holding below 111.60, supported by the EMA50 and stochastic’s negativity. Now we are waiting until the pair visits 109.00 as the first target. Breaking the targeted level represents the key to extend the bearish wave towards 106.63, while breaching 111.60 will push the price to turn to rise on the intraday basis to test 113.97 mainly. The expected trading range for today is between 110.00 support and 112.00 resistance.

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

Jonathon Alexander

Daily analysis of GBP/JPY for May 30, 2017 888011000 110888 Introduction The GBP/JPY pair made a new unfavorable close listed below the neck line of the double top at 143.30. We could notice a brand-new negative level by reaching 141.80. We expect a new round of bearish attempts in the near and medium term to target 38.2%Fibonacci correction level at 140.20. A sharp decrease of Stochastic from 20 level enhances bearish expectations, which offers additional unfavorable momentum that makes the set resume bearish attempts till attaining the recommended target. The expected trading range for today is in between 142.75 and 140.20. The product has been supplied by InstaForex Business-www.instaforex.com

By | May 30, 2017

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Overview

The GBP/JPY pair made a new negative close below the neckline of the double top at 143.30. We could notice a new negative level by reaching 141.80. We expect a new round of bearish attempts in the near and medium term to target 38.2% Fibonacci correction level at 140.20. A sharp decline of Stochastic from 20 level reinforces bearish expectations, which provides extra negative momentum that makes the pair resume bearish attempts until achieving the suggested target. The expected trading range for today is between 142.75 and 140.20.

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

Jonathon Alexander

Daily analysis of Gold for May 30, 2017 888011000 110888 Overview Gold cost is varying within a tight range keeping its stability above the bullish channel’s support. Please be aware that stochastic begins to supply a favorable overlapping signal on the chart of the four-hour amount of time. This seals expectations of an additional bullish trend that acquires continuous favorable support from the EMA50. For that reason, we are awaiting the upward bias today. Let me advise you that our next main target is located at 1,295.37. Considering that it is attained, it enables the cost to hold above 1,263.00. The expected trading range for today is in between 1,250.00 assistance and 1,280.00 resistance.The product has been supplied by InstaForex Business-www.instaforex.com

By | May 30, 2017

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Overview

Gold price is fluctuating within a tight range keeping its stability above the bullish channel’s support. Please be aware that stochastic begins to provide a positive overlapping signal on the chart of the four-hour time frame. This cements expectations of a further bullish trend that gains continuous positive support from the EMA50. Therefore, we are waiting for the upward bias today. Let me remind you that our next main target is located at 1,295.37. Since it is achieved, it enables the price to hold above 1,263.00. The expected trading range for today is between 1,250.00 support and 1,280.00 resistance.

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

Jonathon Alexander

Fxwirepro: Usd/cad Trade Idea

By | May 30, 2017
  • Harmonic pattern formed –– Bearish AB= CD pattern.
  • Prospective reversal Zone (PRZ) -1.35390.
  • USD/CAD formed a min or bottom around 1.3387 and shown a small dive from that level. The set formed a prospective bearish AB= CD pattern and is anticipated to obtain completed at 1.35390 level. Short-term trend is slightly bullish as long as resistance 1.3560 (200 4H EMA) holds. It is currently trading around 1.34687.
  • WTI Crude oil shown a minor jump above $50 and shown a decline from that level. The product took assistance near 50% fibo and small weak point can be seen only below that level.
  • USD/CAD significant short term resistance is around 1.3560 (200 4H MA) and any break above validates minor bullishness, a jump till 1.3595/ 1.3640 likely.
  • On the lower side, loonie significant assistance is around 1.3380 and any break listed below verifies that jump from 1.2964 concerns an end at 1.37935 and dip till 1.3285 (200- day MA)/ 1.3220 most likely.

It readies to sell on rallies around 1.3530-1.3535 with SL around 1.3565 for the TP of 1.3410/ 1.3290.

Resistance.

R1-1.3540.

R2 -1.3595.

R3- 1.3640.

Support .

S1-1.3410.

S2-1.3380

S3-1.3220.

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

Jonathon Alexander

Intraday technical levels and trading suggestions for NZD/USD for May 30, 2017 888011000 110888 In December 2016, a bullish breakout above 0.6960-0.7000 permitted the pair to head toward the cost level of 0.7100 (the key level )which failed to provide sufficient bearish pressure on the pair.Bullish determination above 0.7100 allowed a more advance towards 0.7250-0.7350 (sell zone) where the bearish rate action was expected.Bearish perseverance listed below 0.7250 allowed an additional decrease to 0.7100 then 0.6960 that cannot provide sufficient assistance for the pair.That is why, a further fall was anticipated toward0.6860(the lower limitation of the depicted BUY zone) where a bullish position was recommended in previous articles.Recently, a bullish breakout was attained above the illustrated crucial level(0.6960).The set failed to keep adequate bullish momentum above 0.7050. That is why, the NZD/USD setended up being caught within the depicted combination variety (0.6860-0.6960 )once again.Note the depicted bullish 1-2-3 pattern remains legitimate as long as bullishfixation above 0.6900-0.6850 is kept on a daily basis.As expected, the present bullish breakout above 0.6960 enhanced further bullish motion to 0.7100. An expected, the forecast target for the pattern lies around 0.7250 provided that early bullish breakout above 0.7100(essential level) is achieved on a daily basis.The product has actually been provided by InstaForex Company-www.instaforex.com

By | May 30, 2017

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In December 2016, a bullish breakout above 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (the key level) which failed to provide sufficient bearish pressure on the pair.

Bullish persistence above 0.7100 allowed a further advance towards 0.7250-0.7350 (sell zone) where the bearish price action was expected.

Bearish persistence below 0.7250 allowed a further decline towards 0.7100 then 0.6960 that failed to provide enough support for the pair.

That is why, a further fall was expected toward 0.6860 (the lower limit of the depicted BUY zone) where a bullish position was suggested in previous articles.

Recently, a bullish breakout was achieved above the depicted key level (0.6960). However, the pair failed to keep enough bullish momentum above 0.7050.

That is why, the NZD/USD pair became trapped within the depicted consolidation range (0.6860-0.6960) once again.

Note the depicted bullish 1-2-3 pattern remains valid as long as bullish fixation above 0.6900-0.6850 is maintained on a daily basis.

As anticipated, the current bullish breakout above 0.6960 enhanced further bullish movement towards 0.7100.

An expected, the projection target for the pattern is located around 0.7250 provided that early bullish breakout above 0.7100 (key level) is achieved on a daily basis.

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

Jonathon Alexander