Fundamental Analysis of AUD/JPY for August 10, 2018 888011000 110888 AUD/JPY has actually been rather impulsive with the current bearish gains which lead the rate to live below 82.00 support area with a daily close just recently. The cost has been restorative and quite unpredictable previously as the price cleared one of the importance levels in the process, more bearish momentum is expected.AUD has been having a hard time with the combined financial reports recently which lead the currency to damage even more in the process versus JPY. Today JPY Prelim GDP report was released with a significant increase to 0.5 %from the previous negative worth of -0.2% which was anticipated to be at 0.3%, PPI increased to 3.1%from the previous worth of 2.8% which was expected to be at 2.9 %and Prelim GDP Rate Index carried out much better than expected at 0.1%though decreasing from the previous value of 0.5%however better than anticipated value of 0.0%. On the AUD side, today RBA Monetary Policy Statement was held which was rather neutral with the result leading the currency to a particular indecisive phase while doing so. Regardless of the combined financial reports, economically AUD is a bit struggling to get momentum in the market which resulted to more bearish pressure in the process.As of the existing scenario, JPY is anticipated to acquire further overAUD resulting additional bearish momentum at the same time. As JPY performing better sentimentally and fundamentally, it is expected to control AUD further in the coming days.Now let us look at the technical view. The price is presently residing below 82.00 area and dynamic level of 20 EMA with a daily close, which is anticipated to press the price much lower towards 80.50 location in the coming days. As the price remains listed below 84.50 area with a daily close, the bearish bias is anticipated to continue further.SUPPORT: 80.50 RESISTANCE: 82.00, 84.50 BIAS: BEARISH MOMENTUM: IMPULSIVE The product has actually been supplied by InstaForex Company – www.instaforex.com

By | August 10, 2018

AUD/JPY has been quite impulsive with the recent bearish gains which lead the price to reside below 82.00 support area with a daily close recently. Though the price has been quite volatile and corrective earlier as the price cleared one of the importance levels in the process, further bearish momentum is expected.

AUD has been struggling with the mixed economic reports recently which lead the currency to weaken further in the process against JPY. Today JPY Prelim GDP report was published with a significant increase to 0.5% from the previous negative value of -0.2% which was expected to be at 0.3%, PPI increased to 3.1% from the previous value of 2.8% which was expected to be at 2.9% and Prelim GDP Price Index performed better than expected at 0.1% though decreasing from the previous value of 0.5% but better than expected value of 0.0%.

On the AUD side, today RBA Monetary Policy Statement was held which was quite neutral with the outcome leading the currency to a certain indecisive phase in the process. Despite the mixed economic reports, economically AUD is a bit struggling to gain momentum in the market which resulted to further bearish pressure in the process.

As of the current scenario, JPY is expected to gain further over AUD resulting further bearish momentum in the process. As JPY performing better sentimentally and fundamentally, it is expected to dominate AUD further in the coming days.

Now let us look at the technical view. The price is currently residing below 82.00 area and dynamic level of 20 EMA with a daily close, which is expected to push the price much lower towards 80.50 area in the coming days. As the price remains below 84.50 area with a daily close, the bearish bias is expected to continue further.

SUPPORT: 80.50

RESISTANCE: 82.00, 84.50

BIAS: BEARISH

MOMENTUM: IMPULSIVE

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

Jonathon Alexander

Elliott wave analysis of EUR/NZD for August 10, 2018

By | August 10, 2018

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After some sideways consolidation between 1.7352 – 1.7448 more upside will be expected towards the next minor upside targets at 1.7924 on the way higher towards 1.8369 and 1.8423.

Support is now seen at 1.7404 and again at 1.7352. Ideally the later will be able to protect the downside for a clear break above 1.7480 confirming the next part of the uptrend towards 1.7924.

Only a break below support at 1.7301 will question the expected rally higher.

R3: 1.7667

R2: 1.7564

R1: 1.7480

Pivot: 1.7437

S1: 1.7404

S2: 1.7388

S3: 1.7352

Trading recommendation:

We are long EUR from 1.7226 and we will raise our stop to 1.7275.

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

Jonathon Alexander

Elliott wave analysis of EUR/JPY for August 10, 2018

By | August 10, 2018

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The break below support at 128.48 has shifted the preferred count in favor of a large expanded flat developing as wave ii. Under this count, the ideal target for wave C of ii is seen at 126.00 from where a new impulsive rally in wave iii should take over.

Time wise wave ii is approaching its limit, which is nine times the time-span of wave i. This time-limit is seen on August 30.

Short-term resistance is now seen at 128.48 and again at 129.00. The later should be able to cap the upside. A break above 129.00, will be the first warning that the corrective pattern in wave ii could have completed.

R3: 129.46

R2: 129.00

R1: 128.48

Pivot: 128.14

S1: 127.78

S2: 127.34

S3: 127.06

Trading recommendation:

Our stop at 128.45 was hit for a 27 pips loss. We will be looking for a new EUR-buying opportunity at 126.25 or upon a break above 129.00.

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

Jonathon Alexander

EUR/USD. US inflation may push the set out of the range

By | August 10, 2018

The bears of the euro-dollar set cannot break through the support level of 1.1510 to break the ice for a more decline, taking a new cost specific niche in the location of 13-14 figures. As soon as the down impulse faded, the pair’s bulls took the effort and returned the cost to the 16th figure. However, the development of the pair likewise looks unsure, while the rate is below 1.1650. As an outcome, due to the weak point of both bears and bulls, the set flew in anticipation of the next news driver.It must be noted that the European currency reacted relatively calmly to the news that Beijing will present additional 25-percent responsibilities on United States items worth $16 billion. We are speaking about metal products, oil, medical devices and vehicles. The new tariffs will be effective from August 23– that is, from the very same day when Washington will impose duties on Chinese imports in the quantity of 25%, in the quantity of$ 16 billion.Despite the new round of the trade war, the single currency remained practically on the exact same positions as the dollar. Although earlier the euro had responded rather painfully to the escalation of the trade conflict, mostly since of the position of the European Reserve bank, whose members carefully monitor the characteristics of the trade dispute. Probably, the reason for this stability depends on the current reports from China. Exports and( especially)imports showed excellent results; China’s forex reserves in July rose by$5.82 billion (rather of the anticipated decrease of$12 billion). ); inflation in yearly terms is likewise growing for the third month in a row-published on Thursday, the figure for July was better than forecasts, reaching 2.1 %. The yuan, which fell against the dollar given that April, suspended its decline.This circumstance is holding back the weakening of the European currency, despite the continuous trade war. Especially versus the background of the decrease in the dollar index, which in turn responded to the decline in the yield of 10-year Treasuries. After all, the above-mentioned favorable patterns are largely balanced out by the actions of Washington and Beijing. It is apparent that at the minute none of the celebrations is ready to jeopardize and sits down at the negotiating table, so we expect more than one series of the US-Chinese”action-series “. However, macroeconomic reports from China play just an indirect function in identifying the motion of the euro/dollar set. On Friday, all the attention of traders of this set will be focused on the release of data on the growth of US inflation.

The customer price index ought to reveal a favorable( albeit very little)trend, increasing to 0.2 %on a regular monthly basis and to 3 percent on a yearly basis. The core inflation index is likely to remain at the June level( 0.2% mom, 2.3 %yoy). If the release comes out at a forecast level, the dollar will get a need to enhance– due to the fact that in this case, the possibility of a rate trek in September will approach 100%, and the possibilities of a December boost will increase again, as much as 70-80%. Here it is worth recalling that at one of the recent Fed meetings, the views of the regulator members were

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divided: inning accordance with some officials, the level of inflation permits further tightening up of monetary policy, however, according to their coworkers, the stability of inflation indications is doubtful. In this aspect, Friday’s figures will play an unique function. If the CPI comes out at least at the projection level, bears of the EUR/USD will be enough. In turn, the bulls of the pair will have the ability to seize the initiative if the indicators come out or at the zero level or fall into the unfavorable area. And the unfavorable outcome of Friday’s release will not impact the confidence of the market concerning the September rate hike( this concern is nearly solved )– the topic of conversation will be the possible tightening up of financial policy at the December meeting.Thus, the information on the growth of United States inflation will provide another chance to either bulls or bears of the EUR/USD pair to break out of the flat range– that is, to either exceed the level of 1.1650 or to get a grip under the mark of 1.1510. The set is likely to stay within this rate niche if the release will be at the level of forecasts( or the minimum variance). But from a technical perspective, whatever mentions the concern

of the down motion. On the day-to-day chart, the pair is under the Kumo cloud of the Ichimoku Kinko Hyo indicator, which formed a bearish” Parade of lines”signal. In addition, the rate lies between the average and the lower lines of the Bollinger Bands indicator, which also indicates a downward movement. The nearby support level is 1.1510(the lower line of the above indicator). The resistance level is the cost of 1.1650-the lower boundary of the Kumo cloud (on D1), which accompanies the average line of the Bollinger Bands indication and with the Tenkan-sen line.The product has actually been provided by InstaForex Company-

www.instaforex.com

Jonathon Alexander

Japan GDP Data Due On Friday

By | August 9, 2018

Japan will release initial GDP numbers for the second quarter of 2018 on Friday, highlighting a busy day for Asia-Pacific economic activity.

GDP is anticipated to include 0.3 percent on quarter and 1.4 percent on year after sliding 0.2 percent on quarter and 0.6 percent on year in the 3 months prior.

Japan also will see June results for its tertiary industry index and July figures for manufacturer prices. The tertiary market index is anticipated to fall 0.3 percent on month after including 0.1 percent in May. Producer prices are tipped to increase 0.2 percent on month and 2.9 percent on year after acquiring 0.2 percent on month and 2.8 percent on year in June.

New Zealand will launch July numbers for charge card spending; in June, overall card costs was up 0.4 percent on month and retail spending was up 0.8 percent.

New Zealand also will see July results for the manufacturing PMI from BusinessNZ; in June, the index score was 52.8.

Hong Kong will provide Q2 information for gdp; in the 3 months prior, GDP was up 2.2 percent on quarter and 4.7 percent on year.

Singapore will launch June numbers for retail sales; in May, sales included 0.1 percent both on month and on year.

Malaysia will see June figures for industrial production and joblessness. In May, production was up 3.0 percent on year, while the out of work rate was 3.3 percent and the involvement rate was 68.4 percent.

Indonesia will supply Q2 figures for current account; in the previous 3 months, the current account deficit was $5.54 billion.

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

Jonathon Alexander

Oil Edges Lower As Needed Concerns

By | August 9, 2018

Petroleum costs declined on Thursday, extending previous session’s weakness, amid issues the U.S.-China trade war could lead to a drop in demand for crude.

On Wednesday, China slapped additional import tariffs of 25% on $16 billion worth of U.S. products in retaliation for tariffs on China imposed by U.S. President Donald Trump.

Another factor set to weigh on global markets is the U.S.’ choice to enforce new sanctions on Russia over the poisoning of previous Russian spy Sergei Skripal. The sanctions would work around August 22.

Stating that its prematurely for possible retaliatory sanctions to be talked about, Russia reiterated it was not associated with the poisoning of the former spy.

Crude oil futures for September shipment ended down $0.13, or 0.2%, at $66.81 a barrel. On Wednesday, crude oil futures ended down $2.23, or 3.2%, at $66.94 a barrel, taping its most significant slide in over three weeks.

Crude oil rates edged greater earlier this week, amidst rising concerns about international crude supply after U.S. reimposed sanctions on Iran. The very first wave of sanctions against Iran entered into impact at 12:01 on Tuesday.

U.S. stated more sanctions targeting Iran’s oil sector and Reserve bank will enter into effect in November.

A significant drop in Saudi Arabia’s unrefined output last month and supply interruptions in Venezuela and Libya hurt as well.

Data launched by the Energy Information Administration on Wednesday revealed U.S. unrefined stockpiles fell by 1.351 million barrels for the week ended August 3, as against a projection for a drop of over 3 million barrels.

According to a report released by the American Petroleum Institute a day previously, U.S. unrefined inventories stopped by 6.02 million barrels last week, far more than a 3 million barrels fall forecasted by a survey by Bloomberg.

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

Jonathon Alexander

U.S. Wholesale Stocks Unexpectedly Inch Up 0.1% In June

By | August 9, 2018

Wholesale stocks in the U.S. saw a minor boost in the month of June, according to a report launched by the Commerce Department on Thursday.

The Commerce Department said wholesale inventories inched up by 0.1 percent in June after increasing by 0.3 percent in May. Financial experts had expected wholesale inventories to come in the same.

The uptick in wholesale stocks reflected an increase in inventories of durable products, which climbed by 0.8 percent in June following a 0.3 percent boost in May.

Noteworthy boosts in stocks of metals, miscellaneous durable items and lumber more than offset a steep drop in automobile stocks.

The report said inventories non-durable items slumped by 1.0 percent in June after increasing by 0.4 percent in May.

The sharp drop in inventories of non-durable products was partly due to a considerable decline in inventories of farm items.

The Commerce Department likewise said wholesale sales edged down by 0.1 percent in June following a 2.1 percent jump in the previous month.

Sales of long lasting products rose by 0.2 percent in June after surging up by 1.4 percent in May, while sales of non-durable goods fell by 0.3 percent after increasing by 2.8 percent.

With inventories and sales both revealing just modest moves, the inventories/sales ratio for merchant wholesalers was unchanged from the previous month at 1.25.

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

Jonathon Alexander

Intraday technical levels and trading suggestions for EUR/USD for August 9, 2018 888011000 110888 Daily Outlook In April 2018, the EUR/USD pair outlook relied on end up being bearish when the pair pursued trading listed below the broken uptrend in addition to the lower limitation of the depicted combination range.Shortly after, the cost zone (1.1850-1.1750)provided short-lived bullish rejection to 1.1990. The EUR/USD bulls failed to pursue towards greater bullish targets. Instead, a coming down high was developed around 1.1990. This was followed by a bearish breakdown listed below the cost zone of 1.1850-1.1750. This cost zone has been standing as a considerable Supply zone given that June 2018. On the other hand, the price zone of 1.1520-1.1420 was thought about a prominent need zone where a legitimate bullish BUY entry was provided during previous weeks’consolidations.On July 10, signs of bearish rejection were manifested around 1.1750. That’s why a bearish motion was anticipated to happen to 1.1650. Absence of adequate bearish momentum enabled another bullish pullback to happen once again towards 1.1750(the illustrated supply zone )where another episode of bearish movement was started towards 1.1520. On the other hand, current signs of bullish rejection were revealed around the lower limit of the pointed out consolidation range(1.1520). Another bullish movement to 1.1750 must be expected.The EUR/USD pair stays trapped within the combination range of 1.1750-1.1520 up until breakout happens in either direction.The product has been supplied by InstaForex Business-www.instaforex.com

By | August 9, 2018

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Daily Outlook

In April 2018, the EUR/USD pair outlook turned to become bearish when the pair pursued trading below the broken uptrend as well as the lower limit of the depicted consolidation range.

Shortly after, the price zone (1.1850-1.1750) offered temporary bullish rejection towards 1.1990. The EUR/USD bulls failed to pursue towards higher bullish targets. Instead, a descending high was established around 1.1990.

This was followed by a bearish breakdown below the price zone of 1.1850-1.1750. This price zone has been standing as a significant Supply zone since June 2018.

On the other hand, the price zone of 1.1520-1.1420 was considered a prominent demand zone where a valid bullish BUY entry was offered during previous weeks’ consolidations.

On July 10, signs of bearish rejection were manifested around 1.1750. That’s why a bearish movement was expected to occur towards 1.1650.

Lack of enough bearish momentum allowed another bullish pullback to occur again towards 1.1750 (the depicted supply zone) where another episode of bearish movement was initiated towards 1.1520.

On the other hand, recent signs of bullish rejection were expressed around the lower limit of the mentioned consolidation range (1.1520). Hence, another bullish movement towards 1.1750 should be expected.

The EUR/USD pair remains trapped within the consolidation range of 1.1750-1.1520 until breakout occurs in either direction.

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

Jonathon Alexander

Essential Analysis of NZD/USD for August 9, 2018 888011000 110888 NZD/USD is presently rather spontaneous with the bearish momentum which is anticipated to lead the price towards 0.65 in the coming days. In spite of the unchanged economic reports, the dovish nature of the Monetary Policy and Rate statement made NZD lose certain momentum versus USD which is anticipated to cause more weak point in the process.Today NZD Authorities Cash Rate report was published unchanged at 1.75%which did effect the Rate Declaration result leading to a certain belief shift in the market resulting in additional weakness of NZD against USD while doing so. Since the Governor Adrian Orr’s declaration today at RBNZ Press Conference, the rate is anticipated to be the same for longer which is provided for the more powerful financial development however the market did not react to it positively which is certainly an alarm for the NZD purchasers to move their bias.On the other hand, Ahead of the CPI report to be released tomorrow,today PPI report is going to be released which is expected to reduce to 0.2% from the previous value of 0.3 %, Core PPI is expected to reduce to 0.2 %from the previous value of 0.3 %, Joblessness Claims is expected to increase with unfavorable impact to 220k from the previous figure of 218k and Final Wholesale Inventories is anticipated to be the same at 0.0%. Since the present situation, NZD is expected lose further momentum against USD gradually in the coming days as of the current dovish statement from the RBNZ authorities about the upcoming plans for the economy recommended. Though the actual time effect was rather large but it is expected to take a particular quantity of time to push the NZD weakness to a particular peak before USD can in fact push it more impulsively in the process.Now let us take a look at the technical view. The Ichimoku Context is suggesting the rate needs to press much lower whereas certain bullish intervention is also expected as the price proceeds much lower towards 0.65 support location in the future. Since the existing structure, the rate is expected to press a bit higher to 0.6720 location where the vibrant levels like 20 EMA, Tenkan and Kijun line will satisfy the price for the confluence to press even more lower in the coming days. As the rate remains listed below 0.6850 location, the bearish predisposition is anticipated to continue further.SUPPORT: 0.65 RESISTANCE: 0.6720, 0.6850 PREDISPOSITION: BEARISH MOMENTUM: IMPULSIVE AND NON-VOLATILEThe material has actually been supplied by InstaForex Business-www.instaforex.com

By | August 9, 2018

NZD/USD is currently quite impulsive with the bearish momentum which is expected to lead the price towards 0.65 in the coming days. Despite the unchanged economic reports, the dovish nature of the Monetary Policy and Rate statement made NZD lose certain momentum against USD which is expected to lead to further weakness in the process.

Today NZD Official Cash Rate report was published unchanged at 1.75% which did impact the Rate Statement outcome leading to a certain sentiment shift in the market leading to further weakness of NZD against USD in the process. As of the Governor Adrian Orr’s statement today at RBNZ Press Conference, the rate is expected to be unchanged for longer which is done for the stronger economic growth but the market did not quite respond to it positively which is indeed an alarm for the NZD buyers to shift their bias.

On the other hand, Ahead of the CPI report to be published tomorrow, today PPI report is going to be published which is expected to decrease to 0.2% from the previous value of 0.3%, Core PPI is expected to decrease to 0.2% from the previous value of 0.3%, Unemployment Claims is expected to increase with negative impact to 220k from the previous figure of 218k and Final Wholesale Inventories is expected to be unchanged at 0.0%.

As of the current scenario, NZD is expected lose further momentum against USD gradually in the coming days as of the recent dovish statement from the RBNZ officials about the upcoming plans for the economy suggested. Though the real time impact was quite large but it is expected to take a certain amount of time to push the NZD weakness to a certain peak before USD can actually push it more impulsively in the process.

Now let us look at the technical view. The Ichimoku Context is suggesting the price should push much lower whereas certain bullish intervention is also expected as the price proceeds much lower towards 0.65 support area in the future. As of the current structure, the price is expected to push a bit higher towards 0.6720 area where the dynamic levels like 20 EMA, Tenkan and Kijun line will meet the price for the confluence to push further lower in the coming days. As the price remains below 0.6850 area, the bearish bias is expected to continue further.

SUPPORT: 0.65

RESISTANCE: 0.6720, 0.6850

BIAS: BEARISH

MOMENTUM: IMPULSIVE AND NON-VOLATILE

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

Jonathon Alexander