Technical analysis of NZD/USD for October 17, 2018 888011000 110888 Overview: The NZD/USD set deals with resistance at 0.6617, while strong resistance is seen at 0.6617. Support is discovered at 0.6543 and 0.6496 levels. Today, the NZD/USD pair continues to move down from 0.6617 level. The pair could fall from 0.6617 level to the very first support around 0.6543. In consequence, if the NZD/USD pair will break assistance at 0.6543, this level will become resistance today. In the H4 amount of time, the 0.6543 level is expected to serve as minor resistance. We expect the NZD/USD set to continue moving in the bearish trend from 0.6543 level towards the target at 0.6496. In the long term, if the set is successful in going through 0.6543 level, the market will suggest the bearish opportunity below 0.6543 level in order to reach the second target at 0.6496. The 0.6496-0.6423 mark stays a considerable assistance zone. Therefore, the trend will most likely rebound once again from 0.6423 level as long as this level is not breached. in total, we still choose the bullish circumstance listed below the area of 0.6423. The material has actually been offered by InstaForex Business- www.instaforex.com

By | October 17, 2018

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Overview:

The NZD/USD pair faces resistance at 0.6617, while strong resistance is seen at 0.6617. Support is found at 0.6543 and 0.6496 levels. Today, the NZD/USD pair continues to move downwards from 0.6617 level. The pair could fall from 0.6617 level to the first support around 0.6543. In consequence, if the NZD/USD pair will break support at 0.6543, this level will turn into resistance today. In the H4 time frame, the 0.6543 level is expected to act as minor resistance. Hence, we expect the NZD/USD pair to continue moving in the bearish trend from 0.6543 level towards the target at 0.6496. In the long term, if the pair succeeds in passing through 0.6543 level, the market will indicate the bearish opportunity below 0.6543 level in order to reach the second target at 0.6496. However, the 0.6496-0.6423 mark remains a significant support zone. Thus, the trend will probably rebound again from 0.6423 level as long as this level is not breached. in overall, we still prefer the bullish scenario below the area of 0.6423.

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

Jonathon Alexander

Gold is out in the wild

By | October 17, 2018

No matter how helpless against the background of a strong dollar at the beginning of October, the position of gold did not look, for a definitely long period of time to overlook the favorable external background rare-earth element might not. Trade wars, the growing probability of slowing the GDP of China and the world economy, the unpredictability around Brexit, the Italian political crisis and, lastly, the danger of Saudi Arabia to pump up oil rates to $100 per barrel in case the United States imposes sanctions, from a fundamental point of view, must contribute to the development of need for safe-haven properties. As long as the United States stock market was controlled by buyers, there was little possibility of gold, due to the fact that this scenario is regarded by investors as a high international risk hunger. Another thing is the correction of the S&P 500. In this regard, it becomes clear why the catalyst for the advancement by the rare-earth element of the ceiling of the trading range of $1185-1215 per ounce was the worst two-day collapse of United States stock indices since February.

Having actually lost about 10% of its value given that April against the backdrop of the Federal Reserve’s tightening up financial policy and the revaluation of the US dollar, gold has actually been stuck in combination for a long period of time. It waited in the wings and waited. Growing volatility in the United States stock market is requiring investors to diversify their portfolios, increasing the share of trusted properties. And even in times of escalation of trade wars in between the United States and China, it was believed that the dollar took from the yen and the rare-earth element’s safe house status, in truth, and the United States currency has its Achilles heel. As quickly as the S&P 500 decreased, the inflow of foreign capital was changed by an outflow, which enabled gold to mark the best day-to-day characteristics given that the referendum on Britain’s subscription in the EU in 2016.

Gold characteristics

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What’s next? The fate of the XAU/USD will depend on the United States securities market and the position of the dollar. Despite the truth that the consensus forecast of Bloomberg specialists suggests that the yield of Treasury bonds might increase above existing levels by the end of the year, Barclays believes that the figure will quickly fall listed below 3%. According to the bank, financiers overestimate the strength of the American economy, and weak statistics on retail sales and inflation shows it. When it comes to the S&P 500, the most likely circumstance is combination. Forecasts of business revenues for 2018 are positive (+23%), but it appears more modest for 2019 (+10%), with the fading effect of financial stimulus and trade wars will contribute to a downturn in US GDP.

The dollar is slowly losing its trump cards. The element of four walkings in the Federal funds rate by the end of 2019 has actually already been almost taken into consideration in the quotes of related sets, while the decrease in the rate of repatriation of capital and economic development is negative for the bulls on the USD index. These situations enable us to be positive about the prospects of the precious metal.

Technically, the everyday gold chart continues to execute the target of 88.6% on the “Bat” pattern. To start with, the bulls need to storm the resistance at $1239-1244 per ounce.

Gold, day-to-day chart

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

Jonathon Alexander

GBP/USD: whether to believe the optimism of the bulls?

By | October 17, 2018

Published data on the UK labor market once again raised the significance of soft Brexit in the context of monetary policy prospects. Experts began discussing the reality that in the event of an offer, the Bank of England might raise the rate two times next year, and for the very first time in February. Previously, a later date was gone over– traders concentrated on the summer months of 2019. The characteristics of the essential macroeconomic indications of the British forces us to revise the previous forecasts.

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Traders are not confused by the reality that the number of applications for welfare increased to 18.5 thousand. Although this indication shows gradual development given that June, adversely affecting the general image of the labor market. The market focused on other parts: in specific, the joblessness rate stayed at a record low 4 percent – this is the least expensive level because 1975 (although in 2004 the indication approached this target, however did not fall below 4.7%). However the most surprising thing today was the dynamics of wage development. The indication is growing for the 2nd month in a row, exceeding not just the forecast values, however also long-term highs.

Therefore, excluding reward payments (which are naturally unstable), the figure rose to 3.1%– this is the strongest growth rate given that 2009. Taking into consideration the bonuses, the indication also went beyond expectations and reached 2.7%, showing a positive trend for the second month in a row. Even the American labor market can not boast of such outcomes, which has actually been reinforcing for the third year in a row. In spite of the fact that Americans have reached full employment, and main unemployment in the United States is just 3.7%, the growth rate of earnings there leaves much to be wanted. Fed members have consistently revealed concern about this, considering that such a situation adversely impacts the development of inflation signs.

In Britain, wages have actually likewise been slammed by members of the British central bank. If the pattern of the last two months continues, the Bank of England can truly bring the date of the first rate trek next year, especially against the background of development of other macroeconomic indicators. That is why any positive rumors around the potential customers of Brexit provide the pound with such strong assistance– due to the fact that on the way to tightening up monetary policy there is only one aspect that can be dealt with in the coming days.

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It is not the very first time to speak about London and Brussels coming close to concluding the offer. The GBP/USD pair follows the headlines and the present comments of political leaders– so the cost movement is in some cases intermittent. And yet optimism prevails, although the statements of the top authorities of Europe, Britain and Ireland are inconsistent and heterogeneous. Thus, the German Minister for Europe Michael Roth said in the morning that an agreement between London and Brussels is likely to be reached. Later he was supported by the Prime Minister of Ireland Leo Varadkar – however, in his viewpoint, the negotiation process need to be extended until November or December.

The President of the European Council Donald Tusk voiced a cynical situation. He noted today that there is no reason for optimism, and the parties must prepare for a “difficult” Brexit, due to the fact that such a situation is now “more likely than ever”. Theresa Might, who spoke in the British Parliament last night, was likewise limited in her evaluations. According to her, the deal is the best alternative for both sides, however the compromise has been achieved. The labour leader compared the existing circumstance with the plot of the “Groundhog Day” movie, as the settlement process relocations in a circle, however there was no mutually beneficial service.

To put it simply, today’s development of the GBP/USD looks, in my opinion, early and in some sense incorrect. Traders repeat the mistake of a month back, when the marketplace heard just positive projections about the informal top in Salzburg, disregarding the worrying signals. Now the scenario repeats itself: none of the high-ranking participants of tomorrow’s meeting can say exactly how the settlements will end, so all the initial comments of political leaders are assumed. However, evaluating by the characteristics of the pound, the marketplace was inspired by the statements of numerous officials who expressed some optimism.

Of course, if tomorrow the parties really discover common ground on the main concerns (especially on the Irish border), the pound coupled with the dollar will grow impulsively by a number of hundred points, hence generating a drawn-out upward trend. However otherwise, the pair will collapse a lot more than a month ago-because there is less and less time for additional negotiations.

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Summarizing, it ought to be noted that technically the GBP/USD pair is still upward: this is shown by the location of the price in between the middle and upper lines of the Bollinger Bands sign on D1, as well as the formed bullish signal of the “Parade of lines” of the Ichimoku Kinko Hyo indication. But in the coming days, the material will not “work”, because the fate of the set will depend on the outcome of the October top. In the context of the existing situation, it is best to stay for some time “on the fence”, that is, to take a watchful position and not open trade orders.The material has been supplied by InstaForex Company – www.instaforex.com

Jonathon Alexander

EUR/USD: plan for the United States session on October 16. The market is completely calm

By | October 16, 2018

To open long positions for EURUSD, it is needed: The market scenario has not changed compared to the morning forecast. Trading stays in the side channel of 1.1534-1.1605. The formation of an incorrect breakout in the support location of 1.1569 occurred, which led to the resumption of need for the euro, but the primary task is to re-test and break the upper limit of 1.1655 with the exit to the highs in the location of 1.1648 and 1.1682, where I suggest to secure the profit. If the euro falls listed below the assistance level of 1.1569 in the 2nd half of the day, purchases can be returned to the rebound from the lower border of 1.1534.

To open brief positions for EURUSD, it is required:

Sellers will expect an unsuccessful combination above the resistance of 1.1605, and great data on commercial production in the United States will lead to a decline in the EUR/USD in the support location of 1.1569, where I recommend taking revenues. If a quick sell-off after the update of last week’s high does not follow, I recommend returning to short positions in euro only to rebound from the resistance level of 1.1648. A break of assistance at 1.1570 will instantly cause a decline in the euro to yesterday’s low of 1.1537.

Indication signals:

Moving averages

Trade has moved one level from the 30- and 50-day moving average, which shows the lateral nature of the market.

Bollinger bands

The volatility of the Bollinger Bands indicator is very low, and therefore I do not suggest focusing on its efficiency.

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Sign description

Moving Typical (average moving) 50 days – yellow

Moving Typical (average sliding) 1 month – green

MACD: quick EMA 12, sluggish EMA 26, SMA

Bollinger Bands 20

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

Jonathon Alexander

Australia Leading Index Data Due On Wednesday

By | October 16, 2018

Australia will on Wednesday see September numbers for the leading financial index from Westpac, highlighting a light day for Asia-Pacific economic activity. In August, the index was up 0.06 percent on month.

Singapore will launch September figures for imports, exports and trade balance. In August, imports were worth SGD43.81 billion and exports were at SGD50.46 billion for a trade surplus of SGD6.65 billion.

Lastly, the markets in Hong Kong are closed on Wednesday for the Chung Yeung Festival and will re-open on Thursday.

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

Jonathon Alexander

Crude Oil Ends Marginally Higher

By | October 16, 2018

Crude oil futures ended marginally up on Tuesday, after having decreased a bit greatly early on in the session in the middle of issues about financial growth and most likely drop in oil demand.

Costs rose subsequently on reports that Iranian unrefined exports dropped in the first 2 weeks of October.

Petroleum futures for November wound up $0.14, or 0.2%, at $71.92 a barrel. Oil futures scaled a low of $71.03 and a high of $72.27 a barrel.

Oil costs alleviated earlier in the session, with traders reacting to the U.S. President Donald Trump’s remarks that “rogue killers” could be responsible for the disappearance and presumed murder of Saudi reporter Jamal Khashoggi, who hasn’t been seen because entering the Istanbul consulate on October 2.

Trump developed these remarks after a 20-minute telephone call with Saudi Arabia’s King Salman, raising hopes that the U.S. is unlikely to take any punitive action against the kingdom.

The sanctions on Iran’s oil sector will enter into result on November 4. The United States has done the majority of the important things it might do, and there is not much delegated do against Iran, the country’s oil minister Bijan Zanganeh was priced estimate as saying today by the semi-official ISNA news company.

The American Petroleum Institute’s inventory information is due for publication later in the day. The official crude oil report from the Energy Details Administration is due tomorrow early morning.

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

Jonathon Alexander

BITCOIN Analysis for October 16, 2018 888011000 110888 Bitcoin is presently trading esiding inside a restorative tight variety in between $6,500 to $6,700 area after breaking above the $6,500 with strong momentum heading above $7,000 within simply 2 hours. The dynamic levels such as 20 Kijun, ema, and tenkan lines are presently suggesting a heavy correction in the market, whereas a tight variety signals that a strong breakout will come. The cost is presently consolidating above $6,500 location, from where the rate might break above $6,700 in addition to the Kumo Cloud resistance. The price is expected to climb up greater towards $7,500 and later on towards $8,000 area in the future. As the price remains above $6,000-6,500 area, the bullish predisposition is expected to continue further in the coming days.SUPPORT: 6,000, 6,500 RESISTANCE: 7,500, 8,000 BIAS: BULLISH MOMENTUM: VOLATILE The product has been provided byInstaForex Company -www.instaforex.com

By | October 16, 2018

Bitcoin is currently trading esiding inside a corrective tight range between $6,500 to $6,700 area after breaking above the $6,500 with strong momentum heading above $7,000 within just 2 hours. The dynamic levels such as 20 EMA, Tenkan, and Kijun lines are currently indicating a heavy correction in the market, whereas a tight range signals that a strong breakout is about to come. The price is currently consolidating above $6,500 area, from where the price could break above $6,700 as well as the Kumo Cloud resistance. The price is expected to climb higher towards $7,500 and later towards $8,000 area in the future. As the price remains above $6,000-6,500 area, the bullish bias is expected to continue further in the coming days.

SUPPORT: 6,000, 6,500

RESISTANCE: 7,500, 8,000

BIAS: BULLISH

MOMENTUM: VOLATILE

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

Jonathon Alexander

Turkey Industrial Output Growth Relieves In August

By | October 16, 2018

Turkey’s commercial output development alleviated notably in August amid a downturn in the manufacturing sector, data from the Turkish Statistical Institute revealed Tuesday.

Industrial production advanced 1.7 percent year-on-year in August, which was faster than the 1 percent boost financial experts had actually expected. The speed of growth slowed greatly from July’s 5.6 increase.

Amongst the sub-indexes, the mining and quarrying index increased by 6.1 percent and the production index grew by 1.2 percent. Electrical power, gas, air and steam conditioning supply output index was up by 2.9 percent.

Month-on-month, commercial production fell 1.1 percent from July, when the output broadened 3.5 percent. Economists had actually forecast a decline of 2.4 percent for August.

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

Jonathon Alexander

U.S. Homebuilder Confidence All Of A Sudden Inches Higher In October

By | October 16, 2018

A report released by the National Association of Home Contractor on Tuesday unexpectedly revealed a modest increase in U.S. homebuilder self-confidence in the month of October.

The report said the NAHB/Wells Fargo Housing Market Index inched approximately 68 in October from 67 in September. Economic experts had anticipated the index to come in unchanged.

“Contractors are inspired by solid housing need, sustained by a growing economy and a generational low for joblessness,” stated NAHB Chairman Randy Noel.

He added, “Home builders are likewise alleviated that lumber prices have actually decreased for 3 straight months from raised levels previously this summer season, but they require to handle supply-side costs to keep house prices affordable.”

The unforeseen uptick by the heading index was partially due to a jump by the component charting buyer traffic, which rose up to 53 in October from 49 in September.

The components measuring existing sales conditions and expectations in the next six months both edged up by one point to 74 and 75, respectively.

“Beneficial demographic tailwinds and economic conditions need to continue to support need, but real estate price has ended up being a difficulty due to ongoing price and rate of interest boosts,” stated NAHB Chief Economist Robert Dietz.

He added, “Unless housing affordability stabilizes, the marketplace risks losing additional momentum as we head into 2019.”

On Wednesday, the Commerce Department is scheduled to release a different report on new property building and construction in the month of September.

Real estate starts are expected to drop to an annual rate of 1.237 million in September after surging to a rate of 1.282 million in August.

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

Jonathon Alexander