Crude Oil Steadies After Bearish market Plunge, EIA On Tap

By | June 21, 2017

Crude oil futures inched greater Wednesday morning, trimming substantial current losses after the American Petroleum Institute (API) reported a modest draw of 2.72 million barrels in United States petroleum stocks.

The Energy Info Administration is out with its official report today.

While inventories have been trending lower, the speed of the decline has been surprisingly slow, as U.S. drillers have been including rigs at a furious speed despite low oil rates.

Crude oil futures dropped into bear market area on expiration day for the July contract. August petroleum was up 8 cents at $43.59 a barrel this morning.

A Libya port endured a rebel attack at Es Sider last night. Operations are reportedly typical today. Recent indicators are that Libyan production has actually picked up rapidly after considerable disruptions earlier this year.

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

Jonathon Alexander

Trading Prepare for Gold and US Dollar Index for June 21, 2017 888011000 110888 Technical outlook: Gold is wanting to produce a bullish turnaround today. Needs to it handle to close above$1,252.00 at least, the yellow metal would verify the bullish scenario. Please note that a variety of convergences is translucented$1,241/ 45 levels as portrayed above. The fibonacci 0.382 extension of a counter trend is matching up the fibonacci 0.618 retracement of the trending wave. Moreover, rates are also seen to be bouncing right from a 6-month trend line support as seen on the Daily chart(not offered here). A push through$1,257.00 would also verify that the uptrend has resumed to$1,390.00 levels at least in the weeksto follow. Immediate assistance is seen around$ 1,230 levels, while resistance is at $1,257 levels respectively.Trading strategy:Remain long on Gold in the meantime, stop isbelow$1,230, targetis from $1,390 and higher.US Dollar Index chart setups: Technical outlook: The United States Dollar Index likewise seems to have actually completed its sideways combination structure around 97.80 in the meantime. The complex corrective structure a-b-c appearances to be taking resistance from the fibonacci 0.382 levels as well, which is a common co-relation for a wave 4 termination. If this wave count is appropriate and it comes to be real, we should see prices dropping lower from here and continue to print below 96.30 to total wave 3 of a bigger degree before resuming its rally. On the flip side, it the index presses beyond 98.00/ 10 levels from here it would suggest that the flat corrective structure is not complete yet and ought to terminate around 99.00 levels. In either case, we shall be seeking to stay brief (on rallies) going forward.Trading plan: Please stay short, stop isat 98.20/ 30, targeting listed below 96.30. Fundamental outlook: There are no significant events for the rest of the day.Good luck!The product has actually been offered by InstaForex Company- www.instaforex.com

By | June 21, 2017

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Technical outlook:

Gold is looking to produce a bullish reversal today. Should it manage to close above $1,252.00 at least, the yellow metal would confirm the bullish scenario as well. Please note that a number of convergences is seen through $1,241/45 levels as depicted above. The fibonacci 0.382 extension of a counter trend is matching up the fibonacci 0.618 retracement of the trending wave. Furthermore, prices are also seen to be bouncing right from a 6-month trend line support as seen on the Daily chart (not provided here). A push through $1,257.00 would also confirm that the uptrend has resumed towards $1,390.00 levels at least in the weeks to follow. Immediate support is seen around $1,230 levels, while resistance is at $1,257 levels respectively.

Trading plan:

Remain long on Gold for now, stop is below $1,230, target is from $1,390 and higher.

US Dollar Index chart setups:

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Technical outlook:

The US Dollar Index also seems to have completed its sideways consolidation structure around 97.80 for now. Moreover, the complex corrective structure a-b-c looks to be taking resistance from the fibonacci 0.382 levels as well, which is a typical co-relation for a wave 4 termination. If this wave count is correct and it comes to be true, we should see prices dropping lower from here and continue to print below 96.30 to complete wave 3 of a larger degree before resuming its rally. On the flip side, it the index pushes beyond 98.00/10 levels from here it would mean that the flat corrective structure is not complete yet and should terminate around 99.00 levels. In either case, we shall be looking to remain short (on rallies) going forward.

Trading plan:

Please remain short, stop is at 98.20/30, targeting below 96.30.

Fundamental outlook:

There are no major events for the rest of the day.

Good luck!

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

Jonathon Alexander

EUR/USD analysis for June 21, 2017 888011000 110888 Recently, the EUR/USD has been trading upwards. The cost checked the level of 1.1155. Anyway, inning accordance with the 15M timespan, I discovered a hidden bearish divergence on the RSI oscillator, which is a sign that buying looks dangerous. There is a pin bar and strong reversal cost action, which is another indication of weakness. My suggestions is to watch for selling chances. The downward targets are set at the rate of 1.1127 and 1.1120. The finaltarget can be positioned atthe price of 1.1100. Resistance levels: R1: 1.1160 R2: 1.1190 R3: 1.1205 Assistance levels: S1: 1.1115 S2: 1.1090 S3: 1.1065 Trading recommendations for today: look for possible selling opportunities.The product has actually been provided by InstaForex Company-www.instaforex.com

By | June 21, 2017

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Recently, the EUR/USD has been trading upwards. The price tested the level of 1.1155. Anyway, according to the 15M time frame, I found a hidden bearish divergence on the RSI oscillator, which is a sign that buying looks risky. There is a pin bar and strong reversal price action, which is another sign of weakness. My advice is to watch for selling opportunities. The downward targets are set at the price of 1.1127 and 1.1120. The final target can be placed at the price of 1.1100.

Resistance levels:

R1: 1.1160

R2: 1.1190

R3: 1.1205

Support levels:

S1: 1.1115

S2: 1.1090

S3: 1.1065

Trading recommendations for today: watch for potential selling opportunities.

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

Jonathon Alexander

GBP/USD analysis for June 21, 20117

By | June 21, 2017

Recently, the GBP/USD pair has actually been trading upwards. The cost tested the level of 1.2703. According to the 30M time frame, I discovered a climax action and my guidance is to watch for potential selling opportuntiies today. The downward target is set at the rate of 1.2605. The price reputable resistance at 1.2700 (round number), which is another indication of weakness.Resistance levels: R1

: 1.2725 R2:

1.2820 R3: 1.2880

Assistance levels:

S1:

1.2570

S2: 1.2500

S3: 1.2415

Trading recommendations for today: think about potential selling opportunities.The material has been supplied by InstaForex Business-www.instaforex.com

Jonathon Alexander

France'’s GDP Development To Speed up In 2017: Insee

By | June 21, 2017

The French economy is anticipated to grow at the greatest rate since 2011, the statistical office Insee stated in quarterly report launched late Tuesday.

Gdp is anticipated to broaden 1.6 percent this year, the strongest because 2011. The economy had actually broadened 1.1 percent in 2016.

French activity should hence go back to a development rate closer to that of the Eurozone, after three years of weaker development than its neighbours.

GDP is anticipated to grow 0.5 percent each in the third and second quarters then by 0.4 percent at the end of the year.

The Insee stated activity development and policies to lower labor costs ought to improve work. Inning accordance with Insee, work will increase by 220,000 in 2017. This should own a fall in work rate, by 0.6 points to 9.4 percent at the end of the year.

Inflation is forecast to be at 1.1 percent at the end of 2017. Core inflation is likely to remain low, at 0.8 percent in December 2017, versus 0.4 percent a year earlier.

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

Jonathon Alexander

Dutch Consumer Self-confidence Stays Steady; Spending Development Accelerates

By | June 21, 2017

Dutch customer confidence held consistent in June, while spending growth accelerated even more in April, figures from the Central Bureau of Stats revealed Wednesday.

The seasonally adjusted customer confidence index was available in at 23.0 in June, very same reading as in Might. In April, ball game was 26.0.

The index determining determination to purchase improved from 8.0 in May to 10.0 in June and consumers were more positive about their own financial scenario.

Separately, the statistical workplace revealed that customer costs grew at a much faster rate of 2.7 percent annual in April, after a 1.7 percent boost in March.

The step has actually been rising given that October 2014. In April, customers invested more on clothes and furnishings.

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

Jonathon Alexander

Elliott wave analysis of EUR/JPY for June 21, 2017 888011000 110888 Wave summary: The expanded flat correction in wave ii is unfolding as anticipated. Wave b did not make quite as high as expected and peaked at 124.65 before turning lower inwave c to 123.43 to complete waveii and set the phase for the next strong rally greater in wave iii towards 133.34. R3: 124.40 R2:124.13 R1: 123.92 Pivot: 123.78 S1: 123.74 S2: 123.52 S3: 123.43 Trading suggestion: Our stop at 124.20 was hit for a 26 pips loss . We will buy EUR once again at 123.50 or upon a break break above 124.45. The product has been supplied by InstaForex Business-www.instaforex.com

By | June 21, 2017

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Wave summary:

The expanded flat correction in wave ii is unfolding as expected. Wave b did not make quite as high as expected and peaked at 124.65 before turning lower in wave c to 123.43 to complete wave ii and set the stage for the next strong rally higher in wave iii towards 133.34.

R3: 124.40

R2: 124.13

R1: 123.92

Pivot: 123.78

S1: 123.74

S2: 123.52

S3: 123.43

Trading recommendation:

Our stop at 124.20 was hit for a 26 pips loss. We will buy EUR again at 123.50 or upon a break break above 124.45.

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

Jonathon Alexander

Day-to-day analysis of significant sets for June 21, 2017 888011000 110888 EUR/USD: A bearish signal has appeared on the EUR/USD, which has caused a Bearish Verification Pattern in the 4-hour chart. This is according to the anticipated movement for the week, and even more downwards motion is possible, as cost goes to the support lines at 1.1100 and 1.1050. USD/CHF: A bullish signal has appeared on the USD/CHF, which has resulted in a Bullish Confirmation Pattern in the 4-hour chart. This is inning accordance with the expected motion for theweek, and even more upwards movement is possible, as cost goes to the resistance levels at 0.9570 and 0.9800. GBP/USD: The Cable has actually dropped about 160 pips today, and it is now below the distribution area at 1.2650; going to the accumulation territory at 1.2600( the initial target). The nexttarget after that would be the accumulation territory at 1.2550, which could be reached prior to the end of the week. USD/JPY: In spite of the shallow pullback seen in this market, its short-term bullishness stays legitimate. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. Rate may strive to go further upwards before the well-anticipated bearish run happens in the market.< img width=" 450" src=" http://qkfx.com/wp-content/uploads/2017/06/daily-analysis-of-major-pairs-for-june-21-2017-3.png "alt=" 4. png “/ > EUR/JPY: This currency trading instrument remains in a precarious situation. There are blended signals in the market. The RSI period 14 has actually crossed the level 50 to the advantage, offering a bearish signal; whereas the EMA 11 stays above the EMA 56. When the rate goes below the demand zone at 123.00, a clean bearish signal would have been produced. The product has actually been supplied by InstaForex Business- www.instaforex.com

By | June 21, 2017

EUR/USD: A bearish signal has
appeared on the EUR/USD, which has led to a Bearish Confirmation Pattern in the
4-hour chart. This is according to the anticipated movement for the week, and
further downwards movement is possible, as price goes towards the support lines
at 1.1100 and 1.1050.

1.png

USD/CHF: A bullish signal has
appeared on the USD/CHF, which has led to a Bullish Confirmation Pattern in the
4-hour chart. This is according to the anticipated movement for the week, and
further upwards movement is possible, as price goes towards the resistance
levels at 0.9570 and 0.9800.

2.png

GBP/USD: The Cable has dropped
about 160 pips this week, and it is now below the distribution territory at
1.2650; going towards the accumulation territory at 1.2600 (the initial target).
The next target after that would be the accumulation territory at 1.2550, which
could be reached before the end of the week.

3.png

USD/JPY: Despite the shallow pullback witnessed in this market, its short-term bullishness remains valid. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. Price may endeavor to go further upwards before the well-anticipated bearish run happens in the market.

4.png

EUR/JPY: This currency trading instrument is in a precarious situation. There are mixed signals in the market. The RSI period 14 has crossed the level 50 to the upside, giving a bearish signal; whereas the EMA 11 remains above the EMA 56. When the price goes below the demand zone at 123.00, a clean bearish signal would have been generated.

5.png

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

Jonathon Alexander

Technical analysis of EUR/USD for June 21, 2017 888011000 110888 When the European market opens, some Economic Data will be launched, such as German 30-y Bond Auction. The United States will release the Economic Data, too, such as Petroleum Stocks and Existing House Sales,so, amid the reports, EUR/USD will relocate a low to mediumvolatility during this day.TODAY’S TECHNICALLEVEL: Breakout BUYLevel: 1.1189.Strong Resistance:1.1183. Original Resistance: 1.1172. Inner Sell Location: 1.1161.Target Inner Location: 1.1135.Inner Buy Location: 1.1109. Initial Assistance: 1.1098. Strong Assistance: 1.1087. Breakout OFFER Level: 1.1081. Disclaimer: Trading Forex(forex)on margin carries a high level of threat, and may not appropriate for all investors. The high degree of leverage can work against you along with for you. Prior to deciding to buy foreign exchange you should thoroughly consider your investment goals, level of experience, and threat cravings. The possibility exists that you might sustain a loss of some or all your initial investment and for that reason you should not invest loan that you can not manage to lose. You need to know all the dangers connected with forex trading, and consult from an independent financial advisor if you have any doubts.The product has actually been provided by InstaForex Business-www.instaforex.com

By | June 21, 2017

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When the European market opens, some Economic Data will be released, such as German 30-y Bond Auction. The US will release the Economic Data, too, such as Crude Oil Inventories and Existing Home Sales, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY’S TECHNICAL LEVEL:

Breakout BUY Level: 1.1189.

Strong Resistance:1.1183.

Original Resistance: 1.1172.

Inner Sell Area: 1.1161.

Target Inner Area: 1.1135.

Inner Buy Area: 1.1109.

Original Support: 1.1098.

Strong Support: 1.1087.

Breakout SELL Level: 1.1081.

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

BoJ Minutes On Tap For Wednesday

By | June 20, 2017

The Bank of Japan will on Wednesday launch the minutes from its April 26-27 monetary policy conference, highlighting a modest day for Asia-Pacific economic activity.

At the meeting, the BoJ voted to maintain the -0.1 percent rates of interest on bank accounts that financial institutions keep at the bank. It also chose to keep the reserve bank’s target of raising the quantity of impressive Japan government bond holdings at a yearly rate of about JPY 80 trillion.

Japan also will see April results for its all industry activity index, plus May numbers for grocery store sales and maker tool orders.

The market index is expected to climb up 1.6 percent on month after slipping 0.6 percent in March. Grocery store sales were up 0.6 percent on year in April, while device tool orders rose an annual 24.4 percent.

Australia will see May results for knowledgeable vacancies and for the Westpac leading index. In April, vacancies were up 0.1 percent on month, while the leading index alleviated 0.1 percent on month.

Malaysia will launch May numbers for customer costs; in April, inflation was down 0.3 percent on month and up 4.4 percent on year.

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

Jonathon Alexander