U.S. Production Index Climbs To Six-Year High In August

By | September 1, 2017

Activity in the United States manufacturing sector broadened faster than estimated in the month of August, the Institute for Supply Management exposed in a report on Friday.

The ISM stated its purchasing managers index reached 58.8 in August from 56.3 in July, with a reading above 50 indicating development in the production sector. Financial experts had actually anticipated the index to inch as much as 56.5.

The bigger than expected boost raised the acquiring managers index to its highest level considering that reaching 59.1 in April of 2011.

The jump by the headline index was partly due to a notable acceleration in the rate of task development in the sector, as the employment index surged approximately 59.9 in August from 55.2 in July.

With the significant boost, the work index reached its highest level given that reaching 61.3 in June of 2011.

The report said the production index also inched as much as 61.0 in August from 60.6 in July, while the new orders index edged down to 60.3 from 60.4.

On the inflation front, the ISM stated the prices index registered 62.0 in August, unchanged from the previous month.

“Comments from the panel show broadening company conditions, with new orders, production, work, stockpile and exports all growing in August,” stated Timothy R. Fiore, Chair of the ISM Production Organisation Study Committee.

The ISM is set up to release a separate report on activity in the service sector in the month of August next Wednesday.

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

Jonathon Alexander

Dollar Ticks Up After Economic Reports

By | September 1, 2017

Following the release of U.S. building costs for July, ISM manufacturing index and University of Michigan’s customer sentiment index for August at 10.00 am ET Friday, the greenback edged up versus its major competitors.

The greenback was trading at 1.1859 versus the euro, 110.32 against the yen, 0.9627 versus the franc and 1.2951 against the pound around 10:01 am ET.

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

Jonathon Alexander

Brazil Factory PMI At 3-month High

By | September 1, 2017

Brazil’s manufacturing sector broadened in August, after stagnating in the previous month, led by a solid boost in orders amidst strong export need, study information from IHS Markit showed Friday.

The Production Buying Supervisors’ Index climbed to a three-month high of 50.9 from July’s neutral rating of 50. A score above 50 suggests development in the sector.

Order books grew at the fastest rate in 3 months, partly driven by the greatest order inflow from abroad given that April 2016. Those surveyed reported that the relatively weak currency helped them secure brand-new work from foreign clients, with Argentina in specific pointed out as a key source of brand-new organisation.

As a result, both output and acquiring activity increased, though factories continued to reduce headcount, extending the trend to 30 months, albeit at a slower rate.

Input expense inflation hit a five-month high and was above its long-run average. Factory-gate costs rebounded in August, partly due to efforts by companies to secure margins.

“While the reserve bank hinted in its newest policy decision that the accommodative policy stance is most likely to continue in coming months, recent advancements in inflation might indicate smaller cuts to the Selic as we head to the year end,” IHS Markit financial expert Pollyanna De Lima stated.

Producers remained positive regarding the production outlook for the next 12 months amidst expectations of much better economic conditions, greater investments and service growth plans underpinning confidence.

However, optimism was limited by worries surrounding politics and the 2018 governmental election and the level of favorable sentiment was up to a 16-month low.

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

Jonathon Alexander

Analysis of Gold for September 01, 2017 888011000 110888 Recently, Gold has been trading upwards. The cost tested the level of$ 1,328.85 in an ultra high volume. Inning accordance with the 30M time frame, I found a broad spread bar in an ultra high volume(purchasing climax), which represents a strong sign of weakness. There is also a phony breakout of a resistance cluster, which is another sign of weakness. Myadvice is to watch for potential selling opportuntiies. The downawrd targets are set atthe rate of $1,315.00 and$1,305.00. Resistance levels: R1:$1,333.45 R2:$1.344.60 R3: $1,360.20 Assistance levels: S1:$1,306.65 S2:$ 1,291.00 S3:$1,279.95 Trading suggestions for today: look for potential selling opportunities.The product has been supplied by InstaForex Business -www.instaforex.com

By | September 1, 2017

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Recently, Gold has been trading upwards. The price tested the level of $1,328.85 in an ultra high volume. According to the 30M time frame, I found a wide spread bar in an ultra high volume (buying climax), which represents a strong sign of weakness. There is also a fake breakout of a resistance cluster, which is another sign of weakness. My advice is to watch for potential selling opportuntiies. The downawrd targets are set at the price of $1,315.00 and $1,305.00.

Resistance levels:

R1: $1,333.45

R2: $1.344.60

R3: $1,360.20

Support levels:

S1: $1,306.65

S2: $1,291.00

S3: $1,279.95

Trading recommendations for today: watch for potential selling opportunities.

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

Jonathon Alexander

NZD/USD Intraday technical levels and trading recommendations for September 1, 2017 888011000 110888 Daily Outlook In February 2017, the portrayed short-term sag was initiated around the depicted supply zone (0.7310-0.7380). A recent bullish breakout above the sag line took place on May 22. Becausethen, the market has been bullish as illustrated on the chart.The price zone of 0.7150-0.7230(Key-Zone)stood as a momentary resistance zone untila bullish breakout was expressed above 0.7230. This led to a quick bullish advance towards the next supply zone around 0.7310-0.7380 which was momentarily breached to the upside.Recent bearish pullback was carried out towards the rate zone of 0.7310-0.7380(newly-established demand-zone) which failed to provide adequate bullish support for the NZD/USD pair.Re-consolidation below the cost level of 0.7300 improves the bearish side of the market.This brings the NZD/USD pair once again towards 0.7230-0.7150 (Key-Zone) where current weak bullish healing was manifested on August 16. On the other hand, an atypical Headand Shoulders pattern is being revealed on the portrayed chart suggesting high probability of bearish reversal.Breakdown of the neck line 0.7150 verifies the turnaround pattern.Anticipated bearish targets lie around 0.7050, 0.6925 and eventually 0.6800. The product has been provided by InstaForex Business- www.instaforex.com

By | September 1, 2017

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Daily Outlook

In February 2017, the depicted short-term downtrend was initiated around the depicted supply zone (0.7310-0.7380).

However, a recent bullish breakout above the downtrend line took place on May 22. Since then, the market has been bullish as depicted on the chart.

The price zone of 0.7150-0.7230 (Key-Zone) stood as a temporary resistance zone until a bullish breakout was expressed above 0.7230.

This resulted in a quick bullish advance towards the next supply zone around 0.7310-0.7380 which was temporarily breached to the upside.

Recent bearish pullback was executed towards the price zone of 0.7310-0.7380 (newly-established demand-zone) which failed to offer enough bullish support for the NZD/USD pair.

Re-consolidation below the price level of 0.7300 enhances the bearish side of the market. This brings the NZD/USD pair again towards 0.7230-0.7150 (Key-Zone) where recent weak bullish recovery was manifested on August 16.

On the other hand, an atypical Head and Shoulders pattern is being expressed on the depicted chart indicating high probability of bearish reversal.

Breakdown of the neckline 0.7150 confirms the reversal pattern. Expected bearish targets are located around 0.7050, 0.6925 and eventually 0.6800.

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

Jonathon Alexander

Intraday technical levels and trading recommendations for EUR/USD for September 1, 2017 888011000 110888 Regular monthly Outlook In January 2015, the EUR/USD set moved below the major need levels near 1.2050-1.2100(several previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was forecasted towards 0.9450. In March 2015, EUR/USD bears challenged the regular monthly need level around 1.0500, which had been previously reached in August 1997. In thelonger term, the level of 0.9450 stays a forecasted target if any monthly candlestick attains bearish closure below the illustrated regular monthly need level of 1.0500. Nevertheless, the EUR/USD set has actually been caught within the portrayed combination variety(1.0500-1.1450)up until the current bullish breakout was performed above 1.1450. The current bullish breakout above 1.1450 permits a fast bullish advance towards 1.2100 where price action need to be expected obvious bearish rejection and a legitimate SELL Entry. Daily Outlook In January 2017, the previous downtrend reversed when the Head and Shoulders pattern was established around 1.0500. Since then, obvious bullish momentum has been expressed on the chart.As anticipated, the ongoing bullish momentum permitted the EUR/USD pair to pursue additional bullish advancetowards 1.1415-1.1520( Previous Daily Supply-Zone). The everyday supply zone failed to stop briefly the ongoing bullish momentum. Rather, apparent bullish breakout is being experienced on the chart.The closest Supply level to fulfill the pair is located around 1.2080(Level of previous several bottoms) where bearish rejection can be anticipated.On the other hand, the price zone of 1.1415-1.1520 must be looked for a legitimate BUY entry if the present bearish pullback continues below 1.1800 and 1.1700.The product has been provided by InstaForex Business – www.instaforex.com

By | September 1, 2017

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Monthly Outlook

In January 2015, the EUR/USD pair moved below the major demand levels near 1.2050-1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was projected toward 0.9450.

In March 2015, EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August 1997.

In the longer term, the level of 0.9450 remains a projected target if any monthly candlestick achieves bearish closure below the depicted monthly demand level of 1.0500.

However, the EUR/USD pair has been trapped within the depicted consolidation range (1.0500-1.1450) until the current bullish breakout was executed above 1.1450.

The current bullish breakout above 1.1450 allows a quick bullish advance towards 1.2100 where price action should be watched for evident bearish rejection and a valid SELL Entry.

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Daily Outlook

In January 2017, the previous downtrend reversed when the Head and Shoulders pattern was established around 1.0500. Since then, evident bullish momentum has been expressed on the chart.

As anticipated, the ongoing bullish momentum allowed the EUR/USD pair to pursue further bullish advance towards 1.1415-1.1520 (Previous Daily Supply-Zone).

The daily supply zone failed to pause the ongoing bullish momentum. Instead, evident bullish breakout is being witnessed on the chart.The nearest Supply level to meet the pair is located around 1.2080 (Level of previous multiple bottoms) where bearish rejection can be anticipated.

On the other hand, the price zone of 1.1415-1.1520 should be watched for a valid BUY entry if the current bearish pullback persists below 1.1800 and 1.1700.

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

Jonathon Alexander

EUR/USD analysis for September 01, 2017 888011000 110888 Recently, the EUR/USD set has been trading upwards. The price tested the level of 1.1929 in an ultra high volume. Inning accordance with the 30M time frame, I discovered a phony breakout of the other day’s high at the price of 1.1922, which is a sign of weakness. There is a buying climax and large spread of the bar was fallowed by no need bars, which is another strongindication of weak point. My recommendationsis to look for prospective selling chances. The down targets are setat the rateof 1.1880 and 1.1830. Resistance levels: R1: 1.1940 R2: 1.1970 R3: 1.2030 Assistance levels: S1: 1.1850 S2: 1.1790 S3:1.1760 Trading recommendations for today: expect possible selling opportunities.The product has been provided by InstaForex Business-www.instaforex.com

By | September 1, 2017

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Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1929 in an ultra high volume. According to the 30M time frame, I found a fake breakout of yesterday’s high at the price of 1.1922, which is a sign of weakness. There is a buying climax and wide spread of the bar was fallowed by no demand bars, which is another strong sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1880 and 1.1830.

Resistance levels:

R1: 1.1940

R2: 1.1970

R3: 1.2030

Support levels:

S1: 1.1850

S2: 1.1790

S3: 1.1760

Trading recommendations for today: watch for potential selling opportunities.

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

Jonathon Alexander

Bitcoin analysis for September 01, 2017 888011000 110888 The Bitcoin(BTC)is trading higher at the level of $4.784.90 owned on the news that the U.S. federal government has actually granted a$100,000 grant to a group of scientists seeking to use blockchain to public library systems. The Institute of Museum and Library Services was founded in the mid-’90s, with the aim of providing federal support to museums and libraries. Public records reveal that authorities with the company are moneying a brand-new effort at the San Jose State University Research Foundation, which seeks to conduct initial research study into how blockchain tech could assist libraries manage digitalrights, also much better help their neighborhoods. Technical photo verifies that upward trend.Trading suggestions: According to the Daily amount of time, the purchasers remain in control and the price went out of the 2-week trading variety, which is a sign that selling looks risky. Besides, there is a successful re-test of the tranding variety in a low volume, which is another sign of strength. My recommendations is to watch for possible buying opportunities. The upward target is set at the cost of$5.000. The cost appreciated the 24-simple moving average and it verified that purchasers remain in control. Support/Resistance$4.465– rate action resistance$4.745– Intraday support $5.000– Round number– resistance The material has actually been supplied by InstaForex Business-www.instaforex.com

By | September 1, 2017

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The Bitcoin (BTC) is trading higher at the level of $4.784.90 driven on the news that the U.S. government has awarded a $100,000 grant to a group of researchers looking to apply blockchain to public library systems. The Institute of Museum and Library Services was founded in the mid-’90s, with the aim of providing federal support to libraries and museums. Public records show that officials with the agency are funding a new effort at the San Jose State University Research Foundation, which seeks to conduct preliminary research into how blockchain tech could help libraries manage digital rights, as well better assist their communities. Technical picture confirms that upward trend.

Trading recommendations:

According to the Daily time frame, the buyers are in control and the price went out of the 2-week trading range, which is a sign that selling looks risky. Besides, there is a successful re-test of the tranding range in a low volume, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of $5.000. The price respected the 24-simple moving average and it confirmed that buyers are in control.

Support/Resistance

$4.465 – price action resistance

$4.745 – Intraday support

$5.000 – Round number – resistance

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

Jonathon Alexander