Elliott wave analysis of EUR/NZD for August 17, 2017 888011000 110888 Wave summary: Once once again EUR/NZD failed to break above resistance at 1.6236, which keeps the debt consolidation in the 1.6065 -1.6236 alive. We continue to look for a break above 1.6236 soon to verify extension greater towards 1.6969. Ought to support at 1.6065be broken that couldpostpone the anticipated rally for a much deeperand more complex correction in wave ii/. R3: 1.6470 R2: 1.6349 R1: 1.6236 Pivot: 1.6100 S1: 1.6065 S2: 1.5921 S3: 1.5840 Trading suggestion: WE are long EUR from 1.5510 with stop put at 1.6050. If you are not long EUR yet, then purchase a break above 1.6236 and begin by using the exact same stop at 1.6050. The material has actually been provided by InstaForex Business-www.instaforex.com

By | August 17, 2017

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Wave summary:

Once again EUR/NZD failed to break above resistance at 1.6236, which keeps the consolidation in the 1.6065 – 1.6236 alive. We continue to look for a break above 1.6236 soon to confirm continuation higher towards 1.6969.

Should support at 1.6065 be broken that could delay the expected rally for a deeper and more complex correction in wave ii/.

R3: 1.6470

R2: 1.6349

R1: 1.6236

Pivot: 1.6100

S1: 1.6065

S2: 1.5921

S3: 1.5840

Trading recommendation:

WE are long EUR from 1.5510 with stop placed at 1.6050. If you are not long EUR yet, then buy a break above 1.6236 and start by using the same stop at 1.6050.

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

Jonathon Alexander

Elliott wave analysis of EUR/JPY for August 17, 2017 888011000 110888 Wave summary: What looked like upside acceleration, was invalidated nearly as quickly and support at 128.89 now needs to protect the disadvantage for a break above 129.83 to confirm renewed upside pressure towards 131.40 on the way towards the ideal wave D-target at 137.36. If support at 128.89 fails toprotect thedownside, that would call for a moredownside pressure towards 127.00 and perhaps even closerto 125.08. R3: 130.82 R2: 130.40 R1: 129.83 Pivot: 129.50 S1: 129.14 S2: 128.89 S3: 128.53 Trading recommendation: Our stop at 129.35 was hit. We will go with a break of either resistance at 129.83 or assistance at 128.89. The product has actually been provided by InstaForex Business- www.instaforex.com

By | August 17, 2017

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Wave summary:

What looked like upside acceleration, was invalidated almost as quickly and support at 128.89 now needs to protect the downside for a break above 129.83 to confirm renewed upside pressure towards 131.40 on the way towards the ideal wave D-target at 137.36.

If support at 128.89 fails to protect the downside, that would call for a more downside pressure towards 127.00 and maybe even closer to 125.08.

R3: 130.82

R2: 130.40

R1: 129.83

Pivot: 129.50

S1: 129.14

S2: 128.89

S3: 128.53

Trading recommendation:

Our stop at 129.35 was hit. We will go with a break of either resistance at 129.83 or support at 128.89.

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

Jonathon Alexander

ECOPETROL: Oil Business Develop New Subsidiary In Mexico

By | August 16, 2017

Colombian state-owned oil business Ecopetrol reported that it formalized the creation of its new subsidiary ECP Hidrocarburos Mexico.

The subsidiary, which has head office in Mexico City, is 100% owned by Ecopetrol and its shareholders are Ecopetrol Global Energy SLU, a company included in Spain, with a 99% ownership interest, and Ecopetrol America Inc, integrated in the United States, with a 1% share.

ECP Hidrocarburos Mexico has as its object the exploration and extraction of hydrocarbons and will supervise of subscribing and carrying out the oil contracts awarded to it in Mexico, starting with those currently granted in a recent tender kept in that nation.

In June, Ecopetrol Global Energy – a subsidiary of Ecopetrol – in collaboration with PC Carigali M?xico was granted the operation of Block 6 in the oil province of Cuencas del Sureste to extract light oil. On the other hand, Ecopetrol Global Energy was awarded along with the Mexican oil business Pemex, the tender for expedition in location 8, in the exact same province, also to draw out light oil.

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

Jonathon Alexander

MEXICO: NAFTA Members Release First Round Of Renegotiation

By | August 16, 2017

Canada, Mexico and the United States on Wednesday launched the first round of renegotiation on the North American Free Trade Arrangement (NAFTA) in Washing, D.C. The countries’ delegations are headed by Crystia Freeland, Canada’s Foreign Minister, Ildefonso Guajardo, Mexico’s Economy and Robert Lighthizer, the United States Trade Agent.

In addition to the launch of the renegotiation round, which is approximated to last till August 20, also will begin the conferences on another 10 subjects of the discussion program involving the 3 countries.

The Mexican federal government revealed that it laid out a set of concerns for the NAFTA agenda, organized into 4 thematic axes that are vital to enhance Mexico’s position in the global economy, to extend the free trade benefits and to reposition North America as one of the most competitive regions.

On the other hand, Freeland revealed that throughout the very first renegotiation round, Canada would look for to push for more powerful labor standards, to maintain the conflict settlement mechanism, and to introduce new chapters on gender equality and indigenous rights.

Lastly, the White House had actually already announced in June a plan for renegotiation that included establishing a system to avoid countries from controling their currencies to gain trade benefits such as keeping the guidelines that prefer the purchase of American items. The nation plans to get rid of trade deficits with Mexico and Canada.

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

Jonathon Alexander

ECB'’s Lautenschlager Says “Clock Is Ticking” For Banks In Brexit Preparation

By | August 16, 2017

Eurozone banks should prepare themselves for the worst case situation of a tough Brexit and they need to accelerate their preparatory work, European Reserve bank Executive Board member Sabine Lautenschlager said Wednesday.

“I have a really clear message to both smaller and larger banks: the clock is ticking,” Lautenschlager, who is also the vice-chair of the ECB Supervisory Board, said in an interview in the bank’s Guidance Newsletter.

“Nobody knows how Brexit will play out, and that’s why all impacted banks must prepare themselves with a difficult Brexit in mind.”

The banks are not as far advanced as supervisors would like them to be, she stated.

Lots of big banks who want to relocate operation to the euro area have made progress in preparation, however have actually not made any decisions yet on ways to organize their services, she noted.

Lautenschlager advised the banks to hurry, stating, “We just have a narrow time frame in which to examine strategies and applications, following a standard procedure we have actually currently communicated.”

She also cautioned versus competitors amongst various euro location nations in drawing in banks leaving the UK. “We will oppose any race to the bottom in supervisory requirements,” the leading ECB official said.

While she was uncertain as to how the post Brexit landscape will appear like, Lautenschlager asserted that London will no longer be an automatic entry indicate the European Union, though it will stay an essential international monetary hub.

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

Jonathon Alexander

Housing Starts Below Expectations In July

By | August 16, 2017

Government data released on Wednesday showed that real estate starts unexpectedly fell in July from the previous month’s levels. Building authorizations were likewise below expectations.

A report provided by the U.S. Department of Commerce said real estate starts fell 4.8 percent from the previous month, dropping to an annual rate of 1.155 million units in July. This was down from the modified June price quote of 1.213 million systems.

July’s real estate starts figure was 5.6 percent lower than in the same period in 2015.

Economists had actually expected housing begin to edge approximately a rate of 1.225 million from the 1.215 million originally reported for the previous month.

The Commerce Department said structure licenses also fell throughout the month. The figure come by 4.1 percent compared with the previous month, slipping to a rate of 1.223 million systems in July. June’s figure was modified to a rate of 1.275 million units.

Structure licenses, a sign of future housing need, had been expected to come in at a speed of about 1.25 million units.

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

Jonathon Alexander

Trading Prepare for EUR/USD and GBP/USD for August 16, 2017 888011000 110888 Technical outlook: The EUR/USD hourly chart setup has actually been presented here for an alternate view in extension to what was gone over yesterday. The set failed to print fresh lows, rather, it is establishing for a complex restorative wave structure as labeled here. Moving forward if EUR/USD does not break listed below 1.1687 levels, we should anticipate a rally towards a minimum of 1.1800 or to 1.1850 levels as seen in Red Color here. The termination point of the wave (1)is clear at 1.1687 levels however that of the wave( 2)could be either at 1.1800 or 1.1850 levels, depending on the structure of correction. A safe method to trade the above set would be to offer on rallies from here. Immediate support is seen at 1.1687 levels, while resistance is strong at 1.1910 levels respectively. It is more possible for EURUSD to form a lower top near 1.1800levels before reversinglower again.Trading strategy:Please remain long with a stop below 1.1687, targeting 1.1800 and after that reverse with a stop above 1.1910. GBP/USD chart setups: Technical outlook: The GBP/USD short term structure has actually existed here with probable wave counts. Please note that now with yet another low printed today at 1.2837 levels, the impulsive drop from 1.3267 levels seems complete. Furthermore, the pair has produced a 60/70 pip impulsive rally as well, which might be the very first leg up at a small degree. This likewise suggests that the much-awaited counter pattern rally may have finally activated. Please note that if the above wave count holds well, a 3 wave counter pattern rally A-B-C is expected to finish through 1.3010/ 20and consequently 1.3100 levels as seen here. Likewise note that 1.3100 levels are the Fibonacci 0.618 resistancetoo, of the entire drop in between 1.3267 and 1.2837 levels respectively. Immediate support is seen at 1.2837 levels, while resistance is at 1.3020 levels respectively.Trading strategy: Long now from 1.2860/ 70 levels, stop below1.2837, target 1.3020 and1.3100 Basic outlook: Watch out for FOMC Minutes today at 0200 PM EST.Good luck!The product has actually been offered by InstaForex Company-www.instaforex.com

By | August 16, 2017

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Technical outlook:

The EUR/USD hourly chart setup has been presented here for an alternate view in continuation to what was discussed yesterday. The pair failed to print fresh lows, instead, it is setting up for a complex corrective wave structure as labeled here. Going forward if EUR/USD does not break below 1.1687 levels, we should expect a rally towards at least 1.1800 or towards 1.1850 levels as seen in Red Color here. The termination point of the wave (1) is clear at 1.1687 levels but that of the wave (2) could be either at 1.1800 or 1.1850 levels, depending on the structure of correction. A safe way to trade the above pair would be to sell on rallies from here. Immediate support is seen at 1.1687 levels, while resistance is strong at 1.1910 levels respectively. It is more probable for EURUSD to form a lower top near 1.1800 levels before reversing lower again.

Trading plan:

Please remain long with a stop below 1.1687, targeting 1.1800 and then reverse with a stop above 1.1910.

GBP/USD chart setups:

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Technical outlook:

The GBP/USD short term structure has been presented here with probable wave counts. Please note that now with yet another low printed today at 1.2837 levels, the impulsive drop from 1.3267 levels looks to be complete. Furthermore, the pair has produced a 60/70 pip impulsive rally as well, which could be the first leg up at a small degree. This also indicates that the much-awaited counter trend rally might have finally triggered. Please note that if the above wave count holds well, a three wave counter trend rally A-B-C is expected to complete through 1.3010/20 and subsequently 1.3100 levels as seen here. Also note that 1.3100 levels are the Fibonacci 0.618 resistance as well, of the entire drop between 1.3267 and 1.2837 levels respectively. Immediate support is seen at 1.2837 levels, while resistance is at 1.3020 levels respectively.

Trading plan:

Long now from 1.2860/70 levels, stop below 1.2837, target 1.3020 and 1.3100

Fundamental outlook:

Watch out for FOMC Minutes today at 0200 PM EST.

Good luck!

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

Jonathon Alexander

NZD/USD Intraday technical levels and trading suggestions for August 16, 2017 888011000 110888 Daily Outlook The NZD/USD pair has actually been trending up within the portrayed bullish channel given that January 2016. In November 2016, early indications of bullish weak point wererevealed on the chart when the set failed to record a new high above 0.7400. A bearish breakout of the lower limitation of thechannel occurred in December 2016. In February 2017, the illustrated short-term sag was started in the portrayed supply zone(0.7310-0.7380).A current bullish breakout above the sag line took location on May 22. Ever since, the market has been bullish as illustrated on thechart.The cost zone of 0.7150-0.7230 (Key-Zone)stood as a temporary resistance zone till a bullish breakout was revealed above 0.7230.This resulted in a fast bullish advance towards the next supply zone around 0.7310-0.7380 which was temporarily breached to the upside.The current bearish pullback was carried out towards the costzone of 0.7310-0.7380(newly-established demand-zone )which failed to offer enough bullish support for the NZD/USD pair.Re-consolidation listed below the rate level of 0.7300 improves the bearish side of the market. This brings the EUR/USD set again towards 0.7230-0.7150 (Key-Zone )where rate action should be watched for a possible BUY entry.The material has been offered by InstaForex Business-www.instaforex.com

By | August 16, 2017

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Daily Outlook

The NZD/USD pair has been trending up within the depicted bullish channel since January 2016.

In November 2016, early signs of bullish weakness were expressed on the chart when the pair failed to record a new high above 0.7400.

A bearish breakout of the lower limit of the channel took place in December 2016.

In February 2017, the depicted short-term downtrend was initiated in the depicted supply zone (0.7310-0.7380).

However, a recent bullish breakout above the downtrend line took place on May 22. Since then, the market has been bullish as depicted on the chart.

The price zone of 0.7150-0.7230 (Key-Zone) stood as a temporary resistance zone until a bullish breakout was expressed above 0.7230.

This resulted in a quick bullish advance towards the next supply zone around 0.7310-0.7380 which was temporarily breached to the upside.

The recent bearish pullback was executed towards the price zone of 0.7310-0.7380 (newly-established demand-zone) which failed to offer enough bullish support for the NZD/USD pair.

Re-consolidation below the price level of 0.7300 enhances the bearish side of the market. This brings the EUR/USD pair again towards 0.7230-0.7150 (Key-Zone) where price action should be watched for a possible BUY entry.

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

Jonathon Alexander

Intraday technical levels and trading suggestions for EUR/USD for August 16, 2017 888011000 110888 Regular monthly Outlook In January2015, the EUR/USD pair moved below the significant demand levels near 1.2100(multiple previous bottoms set in July 2012 and June 2010). Hence, a long-lasting bearish target was projected toward 0.9450. In March 2015, EUR/USD bears challenged the regular monthly need level around 1.0500, which had actually been formerly reached in August 1997. In the longer term, the level of 0.9450 stays a predicted target if any monthly candlestick achieves bearish closure below the portrayed monthly need level of 1.0500. However, the EUR/USD pair was trapped within the illustrated debt consolidation variety(1.0500-1.1450)until the present bullish breakout was carried out above 1.1450. The current bullish breakout above 1.1450 allows a quick bullish advance to 1.1850 and 1.2000-1.2100 where price action should be looked for evident bearish rejection and a valid OFFER Entry. Daily Outlook In January 2017, the previous sag reversed when the Head and Shoulders pattern wasestablished around 1.0500. Since then, evident bullish momentum has been expressed on the chart.As prepared for, the ongoing bullish momentum permitted the EUR/USD set topursue additional bullish advance to 1.1415-1.1520(Daily Supply-Zone). The daily supply zone cannot stop briefly the continuous bullish momentum. Rather, an apparent bullish breakout is being witnessed on the chart. The nearest supply level to fulfill the pair is located around 1.2080 (Level of previousmultiple bottoms)where bearish rejection can be anticipated.On the other hand, the price zone of 1.1415-1.1520 stands as a prominent DEMAND zone to be enjoyed throughout the current bearish pullback.The material has actually been provided by InstaForex Business – www.instaforex.com

By | August 16, 2017

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Monthly Outlook

In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was projected toward 0.9450.

In March 2015, EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August 1997.

In the longer term, the level of 0.9450 remains a projected target if any monthly candlestick achieves bearish closure below the depicted monthly demand level of 1.0500.

However, the EUR/USD pair was trapped within the depicted consolidation range (1.0500-1.1450) until the current bullish breakout was executed above 1.1450.

The current bullish breakout above 1.1450 allows a quick bullish advance towards 1.1850 and 1.2000-1.2100 where price action should be watched for evident bearish rejection and a valid SELL Entry.

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Daily Outlook

In January 2017, the previous downtrend reversed when the Head and Shoulders pattern was established around 1.0500. Since then, evident bullish momentum has been expressed on the chart.

As anticipated, the ongoing bullish momentum allowed the EUR/USD pair to pursue further bullish advance towards 1.1415-1.1520 (Daily Supply-Zone).

The daily supply zone failed to pause the ongoing bullish momentum. Instead, an evident bullish breakout is being witnessed on the chart. The nearest supply level to meet the pair is located around 1.2080 (Level of previous multiple bottoms) where bearish rejection can be anticipated.

On the other hand, the price zone of 1.1415-1.1520 stands as a prominent DEMAND zone to be watched during the current bearish pullback.

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

Jonathon Alexander

International macro summary for 16/08/2017

By | August 16, 2017

Worldwide macro summary for 16/08/2017: The United States economy is slowly, however surely getting rid of the headwinds . The current data from US producing sector in type of an Empire State Production Index(

a regular monthly study of makers in New york city State performed by the Federal Reserve Bank of New york city )revealed, that the index reinforced from 9.8 to 25.2 points. This was substantially above consensus expectations of 10.0 points and the strongest reading considering that September 2014. The main reason for such an excellent information was a modest recovery in delivery index(from 10.5 to 12.5 points), new orders(from 13.3 to 20.2 points ). The stocks were the only index with an unfavorable reading at the level of -3.1 points. Moreover, positive signs strengthened significantly on the month with the 6-month outlook index at 45.2 from 34.9 the previous month.Manufacturing of late has actually shown some tentative indications of strength, helped by a recovery in the oil sector as costs have supported and the recent information ought to have a substantial effect in improving confidence in US manufacturing sector.

Company activity is growing more powerful and the work is increasing at a faster speed. The only doubt is whether companies can press through cost increases, but the next couple of months will bring more information and a more specific outlook will be generated.Let’s now take a look at the EUR/USD technical image at the H4 time frame. The price had actually bounced 3 times from the level of 1.1686, so any further offense of this level will open the roadway to the next technical support at the level of 1.1612. The total market conditions are

neutral, but the reducing up momentum indicates, that bears are still in control over this market. The material has actually been offered by InstaForex Business -www.instaforex.com

Jonathon Alexander