Japan Retail Sales Data Due On Thursday

By | June 28, 2017

Japan will on Thursday release May figures for retail sales, highlighting a modest day for Asia-Pacific financial activity.

Retail sales are expected to fall 1.0 percent on month and rise 2.8 percent on year after getting 1.4 percent on month and 3.2 percent on year in April. Sales from large sellers are tipped to fall 0.4 percent on year after climbing up 1.1 percent in the previous month.

New Zealand will see June numbers for the business self-confidence and activity outlook studies from ANZ; in May, their scores were 14.9 and 38.3, respectively.

Australia will provide June data for brand-new home sales; in May, sales advanced 0.8 percent on month.

Hong Kong will launch May data for retail sales; in April, sales alleviated 0.1 percent on year.

Singapore will see May numbers for manufacturer prices; in April, rates fell 0.6 percent on month and climbed up 7.6 percent on year.

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

Jonathon Alexander

Treasuries Close Reasonably Lower However Off Worst Levels

By | June 28, 2017

Treasuries saw moderate weak point throughout trading on Wednesday, extending the notable downward move seen in the previous session.

Bond costs restored some ground after coming under pressure in early trading however stayed in the red. As a result, the yield on the benchmark ten-year note, which moves reverse of its rate, increased by 2.3 basis indicate 2.221 percent.

With the boost on the day, the ten-year yield continued to regain ground after striking its most affordable closing level in over 7 months on Monday.

Traders were digesting reports European Central Bank authorities think the marketplaces misjudged a speech by ECB President Mario Draghi.

Eurosystem authorities told Bloomberg that Draghi’s speech was meant to strike a balance in between recognizing the currency bloc’s financial strength and warning that financial support is still needed.

The euro rallied on Tuesday, as Draghi’s remarks were initially viewed as signaling that the ECB might cut its stimulus this year.

Treasuries saw continued weak point following the release of the outcomes of the Treasury Department’s auction of $28 billion worth of seven-year notes, which brought in slightly below par need.

The seven-year note auction drew a high yield of 2.056 percent and a bid-to-cover ratio of 2.46, while the 10 previous seven-year note auctions had an average bid-to-cover ratio of 2.53.

The bid-to-cover ratio is a procedure of need that suggests the quantity of quotes for each dollar worth of securities being offered.

Today’s seven-year note auction came after the Treasury sold $26 billion worth of two-year notes on Monday and $34 billion worth of five-year notes on Tuesday.

Meanwhile, traders mainly brushed off a report from the National Association of Realtors showing pending house sales in the United States unexpectedly reduced for the third successive month in May.

NAR said its pending home sales index fell by 0.8 percent to 108.5 in May from a downwardly modified 109.4 in April. Economists had anticipated the index to climb up by 0.8 percent.

A pending house sale is one in which a contract was signed but not yet closed. Usually, it takes four to six weeks to close a contracted sale.

Trading on Thursday might be affected by response to the weekly jobless claims report in addition to the final reading on first quarter GDP.

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

Jonathon Alexander

Pound Spikes Up After BoE Carney Hints At Stimulus Removal

By | June 28, 2017

The pound strengthened against its major counterparts in the New York session on Wednesday, after the Bank of England Governor Mark Carney suggested that the bank could tighten monetary policy soon as spare capacity erodes, and to contain inflationary pressures.

“Some removal of monetary stimulus is likely to become necessary if the trade-off facing the MPC continues to lessen and the policy decision accordingly becomes more conventional,” Carney at the European Central Bank Forum in Sintra, Portugal.

“The extent to which the trade-off moves in that direction will depend on the extent to which weaker consumption growth is offset by other components of demand including business investment, whether wages and unit labour costs begin to firm, and more generally, how the economy reacts to both tighter financial conditions and the reality of Brexit negotiations,” he told.

The remarks by Carney marks a significant shift from previous stance, when he sought more time to hike rates amid mixed signals on economic growth.

Data from the Nationwide Building Society showed that UK house prices increased in June after declining for three straight months.

House prices advanced 1.1 percent month-on-month, reversing a 0.2 percent fall in May. Economists had forecast a marginal 0.1 percent rise.

The currency has been trading in a positive territory in the European session.

The pound climbed to near a 3-week high of 1.2964 the greenback and near a 5-week high of 145.39 against the yen, from its early lows of 1.2794 and 143.27, respectively. The pound is likely to find resistance around 1.32 against the greenback and 148.5 against the yen.

The pound hit an 8-day high of 1.2428 against the Swiss franc, after having fallen to a weekly low of 1.2279 at 3:00 am ET. The next possible resistance for the pound-franc pair is seen around the 1.26 region.

Reversing from an early near 8-month high of 0.8880 against the euro, the pound advanced to a 5-day high of 0.8772. On the upside, 0.86 is likely seen as the next resistance level for the pound.

Data from the European Central Bank showed that Eurozone monetary aggregate expanded in May and credit to the private sector increased at a slightly faster pace.

The broad monetary aggregate M3 climbed 5 percent year-on-year in May, following a 4.9 percent rise in April. M3 growth matched economists’ expectations. The annual growth averaged 5.1 percent in three months to May.

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

Jonathon Alexander

NZD/USD on major assistance, time to start purchasing

By | June 28, 2017

We are seeing cost test an essential assistance level at

0.7264 (Fibonacci retracement, horizontal overlap support) and the strategy is to play the bounce up to 0.7317 resistance(Fibonacci extension, horizontal swing high resistance, bearish price action). RSI(34)sees a rising assistance line holding up price really well.

We remain bullish as it is best on pullback support.Correlation analysis: AUD/USD and NZD/USD are both expecting bounces.Buy above 0.7264. Stop loss at 0.7243.

Take profit at 0.7317. The product has been offered by InstaForex Company – www.instaforex.com

Jonathon Alexander

AUD/USD on major support, time to start purchasing

By | June 28, 2017

Cost is seeing significant assistance above 0.7578 (Fibonacci retracement, horizontal overlap assistance )and we anticipate to see a bounce above this level for a rise all the way as much as 0.7631 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3)I seeing strong assistance above 8.3% where we expect it to bounce likewise with price.Correlation analysis: AUD/USD and NZD/USD are both expecting bounces.Buy above 0.7578. Stop loss at 0.7558.

Take revenue at 0.7631. The product has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Technical analysis of USD/JPY for June 28, 2017 888011000 110888 Our both targets which we predicted for USD/JPY in the analysis from 26th June have actually been hit. The set is anticipated to continue its benefit movement. The set retreated from 112.45(the high of June 27), an assistance base at 112.00 has been formed and has actually enabled for a short-lived stabilization. The increasing 20-period and 50-period are playing support functions. The relative strength index is above it neutrality level at 50. For this reason, as long as 111.80 is not broken, search for a more rise to 112.45 as well as to 112.65 in extension. If the cost moves in the opposite direction as anticipated, short position is suggested below 111.80 with targets at 111.55 and 111.35. Chart Explanation: The black line shows the pivot point. The present price above pivot point indicates the bullish position while the rate listed below pivot point shows the short position. The red lines reveal the support levels and the green lineshows the resistance levels. These levels can be used togo into and exit trades.Strategy: BUY, Stop Loss: 111.80, Take Revenue: 112.45 Resistance levels: 112.45, 112.65, and 113.00 Support levels: 111.55,111.30, and 111.00 The material has actually been supplied by InstaForex Business-www.instaforex.com

By | June 28, 2017

USDJPYM30.png

Our both targets which we predicted for USD/JPY in the analysis from 26th June have been hit. The pair is expected to continue its upside movement. Although the pair retreated from 112.45 (the high of June 27), a support base at 112.00 has been formed and has allowed for a temporary stabilization. The rising 20-period and 50-period are playing support roles. The relative strength index is above it neutrality level at 50.

Hence, as long as 111.80 is not broken, look for a further rise to 112.45 and even to 112.65 in extension.

Alternatively, if the price moves in the opposite direction as predicted, short position is recommended below 111.80 with targets at 111.55 and 111.35.

Chart Explanation: The black line shows the pivot point. The present price above pivot point indicates the bullish position while the price below pivot point indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy : BUY, Stop Loss: 111.80, Take Profit: 112.45

Resistance levels: 112.45, 112.65, and 113.00

Support levels: 111.55,111.30, and 111.00

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

Jonathon Alexander

Technical analysis of USD/CHF for June 28, 2017 888011000 110888 All our targets in the USD/CHF set, which we anticipated on 26th June, have actually been hit. USD/CHF is under pressure; and the disadvantage pattern is still anticipated to dominate. The pair is hanging on the downside. More down momentum is enhanced by the declining 20-period and 50-period moving averages. The relative strength index has actually broke down its oversold level of 30, however has actually not displayed any reversal signal. For this reason, as long as 0.9635 is resistance, another decline to 0.9550 and even to 0.9525 appears more likely to take place. Chart Description: The black line shows the pivot point; the present rate above pivot point indicates the bullish position and listed below pivot points shows the short position. The red lines show the support levels and the green lineindicates the resistance levels. These levels can be utilized to exit and get in trades.Strategy: OFFER, Stop Loss: 0.9635, Take Earnings: 0.9550 Resistance levels: 0.9660, 0.9685, and 0.9705 Support levels: 0.9550, 0.9525, and 0.9500 The product has been provided by InstaForex Business-www.instaforex.com

By | June 28, 2017

USDCHFM30.png

All our targets in the USD/CHF pair, which we predicted on 26th June, have been hit. USD/CHF is under pressure; and the downside trend is still expected to prevail. The pair is holding on the downside. Further downward momentum is reinforced by the declining 20-period and 50-period moving averages. The relative strength index has broke down its oversold level of 30, but has not displayed any reversal signal.

Hence, as long as 0.9635 is resistance, another decline to 0.9550 and even to 0.9525 seems more likely to occur.

Chart Explanation: The black line shows the pivot point; the present price above pivot point indicates the bullish position and below pivot points indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: SELL, Stop Loss: 0.9635, Take Profit: 0.9550

Resistance levels: 0.9660, 0.9685, and 0.9705

Support levels: 0.9550, 0.9525, and 0.9500

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

Jonathon Alexander

Technical analysis of GBP/JPY for June 28, 2017 888011000 110888 All our targets which we anticipated for the GBP/JPY set have actually been hit. Our forecasts for GBP/USD have actually been true given that the 1st June. The pair is still holding on the upside. The upward momentum is additional enhanced by the rising 20-period and 50-period moving averages. The relative strength index is mixed with a bullish predisposition. European Central Bank President Mario Draghi mentioned that the economic healing in the eurozone stayed on track with indications of reflationary pressures. He said the main bank could adjust its policy tools of sub-zero interest rates and massive bond purchases. Such hawkish remarksstimulated a wave of selling in government bonds in Germany, Sweden, the U.K., and the U.S.To sum up, as long as 144.00 is not broken, try to find the continuation of the uptrend with targets at 146.15 and 147.00 in extension. Additionally, if the rate relocations in the opposite direction as predicted, a brief position is suggested below 144.00 with the target at 143.20. Chart Explanation: the black line reveals the pivot point. The price above pivot point suggests the bullish position when it is below pivot points, it suggests a brief position. The red lines reveal the support levels and the green line suggests the resistance levels. These levels can be utilized to get in and exit trades.Strategy: BUY, Stop Loss: 144, Take Earnings: 146.15. Resistance levels: 146.15, 147.00, and 148.05 Assistance levels: 143.20, 142.80, and 142.00 The material has been supplied by InstaForex Company-www.instaforex.com

By | June 28, 2017

GBPJPYM30.png

All our targets which we predicted for the GBP/JPY pair have been hit. Our forecasts for GBP/USD have been true since the 1st June. The pair is still holding on the upside. The upward momentum is further reinforced by the rising 20-period and 50-period moving averages. The relative strength index is mixed with a bullish bias.

European Central Bank President Mario Draghi pointed out that the economic recovery in the eurozone remained on track with signs of reflationary pressures. Besides, he said the central bank could adjust its policy tools of sub-zero interest rates and massive bond purchases. Such hawkish comments sparked a wave of selling in government bonds in Germany, Sweden, the U.K., and the U.S.

To sum up, as long as 144.00 is not broken, look for the continuation of the uptrend with targets at 146.15 and 147.00 in extension.

Alternatively, if the price moves in the opposite direction as predicted, a short position is recommended below 144.00 with the target at 143.20.

Chart Explanation: the black line shows the pivot point. The price above pivot point indicates the bullish position and when it is below pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, Stop Loss: 144, Take Profit: 146.15.

Resistance levels: 146.15, 147.00, and 148.05

Support levels: 143.20, 142.80, and 142.00

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

Jonathon Alexander

Technical analysis of NZD/USD for June 28, 2017 888011000 110888 NZD/USD is expected to trade in a lower variety. Although the set posted a rebound, it is still trading listed below the decreasing 50-period moving average, which plays a resistance function and maintains the downside predisposition. The relative strength index is below its neutrality level at 50. To conclude, as long as 0.7320 is not exceeded, try to find a new drop to 0.7240 as well as to 0.7210 in extension. Strategy: SELL Stop Loss: 0.7320. Take Revenue: 0.7240 Chart Explanation: The black line reveals the pivot point. Presently, the rate is above the pivot point which indicates the bullish position. It indicates the short position if it is listed below the pivot points. The red lines show the assistance levelsand the green line indicates the resistance levels. Theselevels can be used to go into and leave trades.Resistance levels: 0.7350, 0.7375, and 0.7405 Assistance levels: 0.7240, 0.7210, and 0.7170 The material has actually been offered by InstaForex Business-www.instaforex.com

By | June 28, 2017

NZDUSDM30.png

NZD/USD is expected to trade in a lower range. Although the pair posted a rebound, it is still trading below the declining 50-period moving average, which plays a resistance role and maintains the downside bias. The relative strength index is below its neutrality level at 50.

To conclude, as long as 0.7320 is not surpassed, look for a new drop to 0.7240 and even to 0.7210 in extension.

Strategy: SELL Stop Loss: 0.7320. Take Profit: 0.7240

Chart Explanation: The black line shows the pivot point. Currently, the price is above the pivot point which indicates the bullish position. If it is below the pivot points, it indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 0.7350, 0.7375, and 0.7405

Support levels: 0.7240, 0.7210, and 0.7170

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

Jonathon Alexander