<aWorldwide macro introduction for 07/12/2016

By | December 7, 2016

International macro overview for 07/12/2016: The eurozone third quarter GDP data was launched yesterday and according to the 2nd estimate by Eurostat, the economy expanded 0.3% on a quarterly basis in the Q3, which remained in line with the very first price quote and experts’ expectations. Furthermore, on an annual basis, Q3 GDP growth was modified approximately 1.7% from the formerly published 1.6% gain. Second-quarter economic growth was likewise revised up by 0.1% to 1.7%. The advance in the Q3 was mainly driven by home spending (0.2%), and changes in stocks and public sector costs (0.1%). Exports and financial investment made none contribution to development, while greater imports cut 0.1% from the last growth figure. In conclusion, all nations in the eurozone grew in the Q3, with Slovenia, Greece, and Portugal revealing the greatest economic development.

Let’s now take a look at the EUR/USD technical picture at the 4H timespan. The bulls have actually managed to break out above the technical resistance at the level of 1.0745, however the rally was topped just ahead of 38%Fibo at the level of 1.0807. Presently, the rate returned to the assistance zone at the level of 1.0687 and the marketplace appears to be waiting for a next trigger to resume the sag again. In case of a support offense, the next crucial techncial support is seen at the level of 1.0562.

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

Jonathon Alexander

Gold analysis for December 07, 2016 888011000 110888 The price of$1,172.00 is the crucial level on gold. We may see possible testing of$1,165.60 if the rate rejects lower from that point. Anyway, if the cost breaks an upward channel, gold might visit the level of $1,177.60. The rate is trading at the point of control. I discovered a downward channel and the price is checking the upper diagonal of the channel. Watch for prospective selling opportunities. The first down target is set at the cost of $1,165.50. Anyhow, if the price breaks the level of$1,172.50, gold mightvisit the level of$ 1,177.60 (Fibonacci growth 61.8%). Fibonacci pivot points: Resistance levels: R1: 1,172.35 R2: 1,177.30 R3: 1,179.80 Support levels: S1: 1,164.90 S2: 1,162.25 S3: 1,157.50 Trading recommendations for today: Expect possible selling chances. Anyhow, if you see an upward breakout of the channel, expect buying opportunities.The product has been supplied by InstaForex Business- www.instaforex.com

By | December 7, 2016

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The price of $1,172.00 is the key level on gold. If the price rejects lower from that point, we may see potential testing of $1,165.60. Anyway, if the price breaks an upward channel, gold may visit the level of $1,177.60. The price is trading at the point of control. I found a downward channel and the price is testing the upper diagonal of the channel. Watch for potential selling opportunities. The first downward target is set at the price of $1,165.50. Anyway, if the price breaks the level of $1,172.50, gold may visit the level of $1,177.60 (Fibonacci expansion 61.8%).

Fibonacci pivot points:

Resistance levels:

R1: 1,172.35

R2: 1,177.30

R3: 1,179.80

Support levels:

S1: 1,164.90

S2: 1,162.25

S3: 1,157.50

Trading recommendations for today: Watch for potential selling opportunities. Anyway, if you see an upward breakout of the channel, watch for buying opportunities.

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

Jonathon Alexander

Pound Drops Versus Majors

By | December 7, 2016

The British pound compromised against the other major currencies in the Asian session on Wednesday.

The pound fell to 2-day lows of 0.8471 against the euro, 1.2649 against the United States dollar and 1.2774 against the Swiss franc, from the other day’s closing quotes of 0.8451, 1.2678 and 1.2801, respectively.

Versus the yen, the pound edged down to 144.34 from the other day’s closing value of 144.49.

If the pound extends its drop, it is likely to discover support around 0.87 versus the euro, 1.22 versus the greenback, 1.23 against the franc and 138.00 against the yen.

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

Jonathon Alexander

European Economics Preview: Germany's Industrial Output Data Due

By | December 7, 2016

Industrial production from Germany and the U.K. are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is slated to publish Germany’s industrial production data for October. Production is expected to rise 0.8 percent on month versus a 1.8 percent fall in September.

In the meantime, Norway’s industrial output figures are due for October. Output had declined 5.6 percent on month in September.

At 2.45 am ET, the customs office is scheduled to issue French foreign trade data. The trade deficit is seen narrowing to EUR 4.35 billion in October from EUR 4.76 billion in September.

At 3.00 am ET, the Czech Statistical Office is slated to publish industrial and construction output figures. Industrial production is seen rising 0.5 percent annually, following a 2.7 percent rise in September.

At 3.30 am ET, U.K. Halifax house prices are due. Economists forecast house prices to grow 0.2 percent on month in November after rising 1.4 percent in October.

At 4.30 am ET, the Office for National Statistics releases U.K. industrial output data. Production is forecast to rise 0.2 percent on month versus a -0.4 percent in September.

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

Jonathon Alexander

<aEUR/NZD analysis for December 06, 2016 888011000 110888 Just recently, EUR/NZD has actually been moving sideways at the price of 1.5060. I discovered a trading variety between the rate of 1.5008( assistance)and the rate of 1.5155 (resistance ). Utilizing the market profile on the 30M time frame, I found today’s point of control at the cost of 1.5060. Expect a breakout of the trading range to validate additional direction. The downward target is set at the rate of 1.4945 and the upward target is set at the rate of 1.5225. FibonacciPivot Points: Resistance levels R1: 1.5130 R2: 1.5220 R3: 1.5360 Assistance levels: S1: 1.4850 S2: 1.4760 S3: 1.4620 Trading recommendations for today: Look for a breakout of the trading range to verify more direction.The product has actually been provided by InstaForex Company – www.instaforex.com

By | December 6, 2016

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Recently, EUR/NZD has been moving sideways at the price of 1.5060. I found a trading range between the price of 1.5008 (support) and the price of 1.5155 (resistance). Using the market profile on the 30M time frame, I found today’s point of control at the price of 1.5060. Watch for a breakout of the trading range to confirm further direction. The downward target is set at the price of 1.4945 and the upward target is set at the price of 1.5225.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5130

R2: 1.5220

R3: 1.5360

Support levels:

S1: 1.4850

S2: 1.4760

S3: 1.4620

Trading recommendations for today: Watch for a breakout of the trading range to confirm further direction.

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

Jonathon Alexander

Crude Oil Rally Stalls As OPEC Doubts Linger

By | December 6, 2016

The rally in crude oil prices sputtered Tuesday morning amid lingering doubts about the impact of OPEC’s plan to curb supplies.

Analysts say non-OPEC producers like the US and Canada may pick up the slack if Saudi Arabia and Russia cut output.

In fact, Russia and Saudi Arabia may flood the markets themselves before the deal kicks in next month.

WTI light sweet crude oil was down 96 cents, or 1.8%, to $50.86 a barrel. Prices jumped 12% last week.

Traders will be paying attention to U.S. inventories data over the next two days.

The American Petroleum Institute is out with its numbers this afternoon, while the government has its say tomorrow morning.

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

Jonathon Alexander

Swiss Franc Falls Amid Danger Cravings

By | December 6, 2016

The Swiss franc weakened versus its most major opponents in the European session on Tuesday in the middle of increasing European shares, as utility and banking stocks increased regardless of issues about Italy’s delicate banking system.

Investors continue to keep an eye on the current advancements in Italy after President Sergio Mattarella accepted Prime Minister Matteo Renzi’s resignation, however asked him to stay in power until after the 2017 budget.

Investors appeared hopeful that a caretaker government in Italy would assist relieve worries about political uncertainty in the nation and its continuous steps to renew the health of the banking sector.

The European Central Bank’s financial policy decision is due on Thursday, with financiers anticipating the bank to extend QE by six months and preserve the size of asset purchase programme. The bank will also release most current personnel projections for inflation and financial development.

Information from the Federal Statistical Workplace revealed that Switzerland’s customer prices continued its down pattern in November.

Customer rates decreased 0.3 percent year-on-year in November, following a 0.2 percent fall a month ago. Costs were forecast to fall 0.2 percent.

This was the most significant fall because June, when rates slid 0.4 percent.

The franc revealed blended trading in the Asian session. While the franc held steady against the euro and the greenback, it fell against the pound. Versus the yen, the franc climbed up.

The franc dropped to 1.0091 against the greenback, off its early high of 1.0050. If the franc extends slide, 1.02 is most likely viewed as its next assistance level.

The franc declined to 1.2865 against the pound, reversing from an early high of 1.2789. The franc is likely to find support around the 1.30 zone.

Data from the British Retail Consortium showed that the U.K. like-for-like sales got just 0.6 percent on year in November.

That was well shy of forecasts for a boost of 1.7 percent, which would have been the same from the October reading.

The franc pared gains to 112.74 versus the Japanese yen, from a high of 113.41 hit at 4:45 am ET. The next possible downside target for the franc-yen pair may lie near the 111.5 location.

Official information revealed that Japan’s labor cash earnings included simply 0.1 percent on year in October.

That was shy of expectations for a boost of 0.2 percent following the downwardly modified flat reading in September.

The franc held consistent around 1.0835 versus the euro, following a decline to 1.0848 at 5:45 am ET. The euro-franc set ended up yesterday’s deals at 1.0826.

Data from Eurostat showed that gross domestic product expanded 0.3 percent sequentially in the third quarter, the exact same speed of development as seen in the second quarter.

On a yearly basis, GDP growth held stable at 1.7 percent. The rate was modified up from the flash quote of 1.6 percent.

Looking ahead, U.S. trade data, factory orders and long lasting items orders – all for October are due in the New york city session.

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

Jonathon Alexander

Gold analysis for December 06, 2016 888011000 110888 Given that our previous analysis, gold has actually been moving upward. The price tested the level of$ 1,175.75 in a high volume. Utilizing the market profile on 30M timespan, I found today’s point of control at the cost of$1,171.90. The cost is trading above 21SMA, which suggests strength. When offering and enjoy for potential buying chances, be careful. I likewise found a balanced triangle. Watch for an upward breakout to validate momentum. I positioned Fibonacci expansion to discover potential upward targets.I got Fibonacci expansion 61.8%at the rate of$1,179.90 and Fibonacci expansion 100 %at the rate of$1,186.70. Fibonacci pivot points:Resistance levels: R1: 1,188.15 R2: 1,202.30 R3: 1,217.80 Support levels: S1: 1,158.40 S2: 1,142.80 S3: 1,128.50 Trading recommendations for today:Watch for a breakout of the symmetrial triangle to verify momentum.The material has been supplied by InstaForex Business- www.instaforex.com

By | December 6, 2016

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Since our previous analysis, gold has been moving upward. The price tested the level of $1,175.75 in a high volume. Using the market profile on 30M time frame, I found today’s point of control at the price of $1,171.90. The price is trading above 21SMA, which is a sign of strength. Be careful when selling and watch for potential buying opportunities. I also found a symmetrical triangle. Watch for an upward breakout to confirm momentum. I placed Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 61.8% at the price of $1,179.90 and Fibonacci expansion 100% at the price of $1,186.70.

Fibonacci pivot points:

Resistance levels:

R1: 1,188.15

R2: 1,202.30

R3: 1,217.80

Support levels:

S1: 1,158.40

S2: 1,142.80

S3: 1,128.50

Trading recommendations for today: Watch for a breakout of the symmetrial triangle to confirm momentum.

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

Jonathon Alexander