GBP/USD: plan for the European session on April 23. The pound may resume its decline

By | April 23, 2019

To open long positions on GBPUSD, you need: At the moment, the purchasers’job is to return to the resistance level of 1.3009, which will cause an upward correction in the optimum location of 1.3036, where I suggest taking profits. In the circumstance of the set’s decline in the first half of the day, it is possible to take a look at long positions from the level of 1.2977, but only if a false breakout is formed. In the absence of demand in the area of 1.2977, purchases can be returned only to the rebound from the area of 1.2940.

To open short positions on GBPUSD, you need:

In the very first half of the day, the bears need to return to the assistance location of 1.2977, the test of which will lead to the development of large pressure on the pound and the resumption of the down movement. In this circumstance, you can anticipate on updating the lows in the area of 1.2940 and 1.2909, where I recommend taking revenues. In the absence of pressure in the location of 1.2977, it is best to think about new short positions after the test of the upper border of the side channel in the area of 1.3009 or instantly to rebound from the optimum of 1.3036.

Sign signals:

Moving Averages

Trading is carried out listed below 30 and 50 medium moving, which shows the conservation of the bearish market.

Bollinger Bands

The volatility of the Bollinger Bands indicator is really low, which does not give signals to go into the marketplace.

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Description of indications

  • MA (moving average) 50 days – yellow
  • MA (moving average) 30 days – green
  • MACD: fast EMA 12, slow EMA 26, SMA 9
  • Bollinger Bands 20

The material has actually been supplied by InstaForex Business – www.instaforex.com

Jonathon Alexander

EUR/USD: prepare for the European session on April 23. Volatility returns to markets

By | April 23, 2019

To open long positions on EURUSD, you require: Yesterday, the purchasers coped with the task of consolidating above the resistance of 1.1247, and while trading is carried out over this range, we can expect continued development in the location of the maximum of 1.1269 with an update of the level of 1.1301, where I suggest fixing the profit. In the circumstance of the return of the euro to the support of 1.1247, it is best to look at long positions from last week’s low in the area of 1.1227 or open long positions on the rebound from 1.1207.

To open brief positions on EURUSD, you need:

The bears need to go back to the level of 1.1247 as quickly as possible, which will lead to profit taking in long positions and a decrease in EUR/USD to the location of the minimum of 1.1227. The main objective will be the location of 1.1207, where I recommend making profits. In the extension of the upward correction, you can go back to short positions to rebound from a maximum of 1.1269.

Indicator signals:

Moving Averages

Trading is conducted in the location of 30 and 50 moving averages, which indicates the lateral nature of the market.

Bollinger Bands

In case of a decrease in the euro, assistance will be offered by the lower bound of the Bollinger Bands indication around 1.1245. Its development will cause a strong sale of EUR/USD.

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Description of indicators

  • MA (moving average) 50 days – yellow
  • MA (moving average) one month – green
  • MACD: fast EMA 12, slow EMA 26, SMA 9
  • Bollinger Bands 20

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

Jonathon Alexander

Technical analysis of EUR/USD for 23/04/2019

By | April 23, 2019

Technical Market Introduction: The EUR/USD set has fallen down from the level of 1.1323 after the Double Top development was made. The rate has actually broken below the technical assistance at the level of 1.1273 and is presently combination in a narrow variety in between the levels of 1.1226 – 1.1262. Any breakout listed below the short-term pattern line vibrant assistance will suggest a continuation of the down move towards the levels of 1.1220 and 1.1210. The crucial technical support stays untouched at the level of 1.1176.

Weekly Pivot Points:

WR3 – 1.1384

WR2 – 1.1352

WR1 – 1.1289

Weekly Pivot – 1.1254

WS1 – 1.1188

WS2 – 1.1157

WS3 – 1.1092

Trading recommendations:

Daytraders need to open the sell orders as close as possible to the level of 1.1265 with a tight protective stop loss and set the take profit level at 1.1220 – 1.1210. Please notification, that if the drop will resume, the main target is seen at the level of 1.1176.

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

Jonathon Alexander

Dollar Mostly Subdued Versus Significant Currencies

By | April 22, 2019

The U.S. dollar stayed primarily subdued against the majority of significant currencies on Monday, after having scored some gains last week.

With the majority of the markets throughout Europe shut for Easter Monday vacation, volumes are fairly thin today.

The dollar index relieved to a low of 97.26 and was last seen at 97.29, down 0.19% from previous close. The index had actually surged to a 2-week high of 97.48 last week.

After the U.S., aiming to toughen its sanctions on Iran, said it will no longer exempt five countries Japan, India, South Korea, China and Turkey from U.S. sanctions if they continue to import oil from Iran from May 2, currencies of Canada and Russia saw some significantly upside today.

The Canadian loonie gained about 0.33% at 1.3349, a four-day high, rallying from 1.3391.

Against the Euro, the dollar was down 0.13% at 1.1259 and versus Pound Sterling, it was gotten about 0.05% at 1.2982.

The Japanese yen was down partially at with a dollar bring 111.94 yen. The Russian rouble struck a one-month high against the greenback.

The U.S. Secretary of State Mike Pompeo announced today that the country will not extend waivers to purchase Iranian petroleum for five countries Turkey, India, China, South Korea and Japan when those waivers end early next month.

U.S. President Donald Trump’s tweet that output from Saudi Arabia and other OPEC members will “more than make up the oil circulation difference in our Full Sanctions on Iranian Oil” stopped working to any substantially halt oil’s rise today.

In U.S. economic news today, a report launched by the National Association of Realtors showed existing home sales in the nation plunged by 4.9% to a yearly rate of 5.21 million in March after skyrocketing by 11.2% to a revised rate of 5.48 million in February.

Economic experts had actually expected existing house sales to topple by 3.8% to a rate of 5.30 million from the 5.51 million initially reported for the previous month. Compared to March 2018, existing home sales were down 5.4%.

The Commerce Department’s report on new home sales for March, is due on Tuesday. New house sales are anticipated to drop to a yearly rate of 650,000 in March after leaping to a rate of 667,000 in February.

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

Jonathon Alexander

Oil Futures End Sharply Higher As U.S. Ends Waivers On Iran Oil Imports

By | April 22, 2019

Crude oil costs rose sharply on Monday after the U.S. decided to end the waivers it had actually offered to significant importers of Iranian oil in November in 2015.

U.S. President Donald Trump’s tweet that output from Saudi Arabia and other OPEC members will “more than make up the oil flow distinction in our Full Sanctions on Iranian Oil” failed to any considerably halt oil’s rise today.

West Texas Intermediate Petroleum futures soared to $65.91 a barrel at one stage, acquiring more than 3%, before cooling a bit and eventually settling at $65.70 on the expiration day, up $1.70, or 2.66% from previous close.

On Thursday, petroleum futures for Might wound up $0.24, or 0.45%, at $64.00 a barrel.

Petroleum futures for June delivery wound up $1.48, or 2.3%, at $65.55 a barrel.

In November 2018, the Trump administration had actually given six-month waivers to major importers of Iranian oil, consisting of India, China, Turkey, Japan and South Korea.

The U.S. Secretary of State Mike Pompeo revealed today that the nation will not extend waivers to purchase Iranian petroleum for 5 countries Turkey, India, China, South Korea and Japan when those waivers expire early next month.

Pompeo tweeted: “Maximum pressure on the Iranian program suggests optimal pressure. That’s why the U.S. will not release any exceptions to Iranian oil importers. The worldwide oil market remains well-supplied. We’re confident it will remain stable as jurisdictions transition far from Iranian crude.”

Following U.S.’s choice, Iran has threatened that it will shut the Strait of Hormuz, an essential chokepoint for Persian Gulf crude producers, according to a report in Bloomberg.

Sanctions on Venezuela, supply disruptions in Libya, last week’s report showing an unexpected drop in U.S. crude stocks and the drop in U.S. oil well count too supported oil’s increase.

Recent encouraging data out of China that showed the world’s second biggest economy is recuperating gradually, has eased concerns about worldwide development and energy need.

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

Jonathon Alexander

April 22, 2019: GBP/USD Intraday technical analysis and trade recommendations.

By | April 22, 2019

On January 2nd, the market started the depicted uptrend line around 1.2380. A weekly bearish gap pressed the set listed below the uptrend line(nearly reaching 1.2960)prior to the bullish breakout above short-term bearish channel was attained on March 11. Shortly after, the GBPUSD set showed weak bullish momentum towards 1.3200 then 1.3360 where the GBPUSD failed to achieve a higher high above the previous leading accomplished on February 27. Rather, the depicted recent bearish channel was established.Significant bearish pressure was demonstrated towards 1.3150-1.3120 where the portrayed uptrend line failed to provide any bullish support resulting in apparent bearish breakdown.On March 29

, the rate levels of 1.2980(the lower limit of the depicted movement channel)demonstrated significant bullish rejection.This brought the GBPUSD pair once again towards the rate zone of(1.3160-1.3180)where the upper limit of the portrayed bearish channel in addition to the backside of the

illustrated uptrend line came to fulfill the pair.Bearish rejection was prepared for around the mentioned price levels(1.3150-1.3180). Nevertheless, the GBPUSD bullish pullback stopped working to pursue towards the pointed out zone.Instead, substantial bearish rejection was demonstrated earlier around the price level of 1.3120. Since then, Short-term outlook has actually turned into bearish towards 1.2920-1.2900 where the lower limitation of the depicted channel is located.Trade Recommendations: Any bullish pullback towards 1.3120-1.3140 needs to be thought about for another SELL entry. TP levels to be located around 1.3100, 1.3020 then 1.2950-1.2920. S/L to be located above 1.3170. The material has been offered by InstaForex Company- www.instaforex.com

Jonathon Alexander

April 22, 2019: EUR/USD Intraday technical analysis and trade suggestions.

By | April 22, 2019

< img width="450"src="http://qkfx.com/wp-content/uploads/2019/04/april-22-2019-eur-usd-intraday-technical-analysis-and-trade-recommendations.jpg"alt="analytics5cbdfe3f9448d.jpg"/ > On January 10th, the marketplace initiated the illustrated bearish channel around 1.1570. Ever since, the EURUSD set has actually been moving within the portrayed channel with slight bearish tendency.On March 7th, current bearish motion was shown towards 1.1175( channel’s lower limitation )where significant

bullish healing was demonstrated.On March 18, a substantial bullish attempt was carried out above 1.1380 (the upper limit of the Highlighted-channel)demonstrating a false/temporary bullish breakout.On March 22, considerable bearish pressure was demonstrated towards 1.1280 then 1.1220. Few weeks earlier, a bullish Head and Shoulders turnaround pattern was demonstrated around

1.1200. This boosted even more bullish development towards 1.1300-1.1315(supply zone)where current bearish rejection was being demonstrated.Short-term outlook turned to become bearish towards 1.1280( 61.8%Fibonacci )followed by additional bearish decline towards 1.1235 (78.6%Fibonacci). For Intraday traders, the price zone around 1.1235(78.6%Fibonacci)stood as a prominent demand location where a legitimate short-term BUY entry was suggested on Friday.On the other hand, conservative traders ought to be waiting on a bullish pullback towards 1.1280-1.1290(behind of the broken bullish channel) for a legitimate OFFER entry.Moreover, earlierbearish breakdown below 1.1235 breaks the ice for additional bearish decline towards

1.1180-1.1170. Trade suggestions: A legitimate OFFER entry can be taken around 1.1280 -1.1290 when a bullish pullback occurs.TP levels to be located around 1.1250, 1.1235 and 1.1170. SL must be put above

1.1320. The material has actually been provided by InstaForex Company- www.instaforex.com

Jonathon Alexander

U.S. Existing Home Sales Pull Back More Than Expected In March

By | April 22, 2019

A report launched by the National Association of Realtors on Monday revealed a significant pullback in U.S. existing home sales in the month of March.

NAR stated existing house sales plunged by 4.9 percent to a yearly rate of 5.21 million in March after soaring by 11.2 percent to a modified rate of 5.48 million in February.

Financial experts had actually anticipated existing house sales to tumble by 3.8 percent to a rate of 5.30 million from the 5.51 million originally reported for the previous month.

The bigger than expected pullback came after existing house sales reached their highest level in nearly a year in February.

With the regular monthly drop, existing house sales in March were down by 5.4 percent compared to 5.51 million in the very same month a year ago.

“It is not unexpected to see a retreat after an effective surge in sales in the prior month,” stated NAR chief economist Lawrence Yun. “Still, existing sales activity is underperforming in relation to the strength in the tasks markets. The impact of lower home mortgage rates has not yet been totally recognized.”

The report stated the mean existing home price in March was $259,400, up 3.7 percent from $250,100 in February and up 3.8 percent from $249,800 in March of 2018.

Overall housing inventory increased to 1.68 million existing houses readily available for sale at the end of March, representing 3.9 months of supply at the present sales pace.

“More boosts in stock are highly preferable to keep house costs in check,” said Yun. “The continual constant gains in home sales can happen when home price gratitude grows at roughly the same pace as wage growth.”

NAR stated single-family existing house sales plunged by 4.9 percent to an annual rate of 4.67 million in March, while existing condominium and co-op sales plummeted by 5.3 percent to a rate of 540,000.

On Tuesday, the Commerce Department is arranged to launch a separate report on new house sales in the month of March.

New home sales are expected to drop to a yearly rate of 650,000 in March after jumping to a rate of 667,000 in February.

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

Jonathon Alexander