Treasuries Rebound In the middle of Steep Drop In Oil Costs

By | June 20, 2017

Following the weak point seen in the previous session, treasuries returned to the upside throughout trading on Tuesday.

Bond rates moved steadily greater for much of the day prior to closing strongly in favorable territory. As an outcome, the yield on the benchmark ten-year note, which moves opposite of its cost, dropped 3.7 basis points to 2.153 percent.

The rebound by treasuries was partly due to a steep come by the cost of petroleum, which added to a pullback on Wall Street.

Crude for July shipment toppled $0.97 to $43.23 a barrel, the most affordable closing level for a front-month contract considering that last September.

The drop pulled petroleum into bear area in the middle of issues about oversupply following signs of rising production in Nigeria and Libya.

Energy stocks moved lower together with the rate of crude oil, helping to pull the Dow and the S&P 500 down off yesterday’s record closing highs.

Following a couple of peaceful days on the United States financial front, trading on Wednesday may be affected by reaction to a report on existing house sales in the month of May.

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

Jonathon Alexander

USD/JPY approaching profit target completely, remain bullish for an additional rise

By | June 20, 2017

Cost has bounced up completely from our purchasing area the other day and is on track to reaching our earnings target. We remain bullish planning to buy on dips above 111.32 assistance (Fibonacci retracement, horizontal pullback support )for a more rise to at least 113.06 resistance(Fibonacci extension, Fibonacci retracement, horizontal pullback resistance).

RSI (34) has actually bounced off nicely from our pullback support at 52% and has good upside possible for us to play the rise from here.Buy above

111.31. Stop loss at 110.45. Take earnings at 113.06.

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

Jonathon Alexander

AUD/JPY testing significant resistance, prepare to sell

By | June 20, 2017

Price is now testing a major level of resistance at 84.88(Several fibonacci extensions)and we expect a strong response from here for a drop to at least 83.90(Fibonacci retracement, horizontal pullback support).

Stochastic (34,5,3) is seeing strong resistance listed below 90% where we expect a drop from.Sell listed below

84.88. Stop loss at 85.41. Take earnings at 83.90.

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

Jonathon Alexander

Russian Ruble Hits More Than 3-month Low Against U.S. Dollar

By | June 20, 2017

The Russian Ruble weakened against the U.S. dollar in early New York deals on Tuesday, as oil prices tumbled on signs of growing supplies from key producers namely Libya and Nigeria.

Rising crude production in the United States, Libya and Nigeria are undermining OPEC’s effort to shrink global supply glut.

The Russian Ruble dropped to 59.39 against the greenback, its weakest since March 14. If the Ruble extends decline, 60.00 is possibly seen as its next support level.

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

Jonathon Alexander

Analysis of Gold for June 20, 2017 888011000 110888 Just recently, the Gold has actually been trading sideways at the rate of $ 1,245.00. Inning accordance with the 15M timespan, I discovered damaged bearish flag and concealed bearish divergence on the moving average oscillator, which is a sign that purchasing looks dangerous. The brief-term trend is bearish. My advice isto watch for prospective selling chances today. Down targets are set at the price of $1,243.00and $1,236.00. Resistance levels: R1:$1,245.50 R2: $1,262.45 R3:$1,267.50 Assistance levels: S1:$1,241.00 S2:$1,236.00 S3:$1,228.55 Trading suggestions for today: look for prospective selling opportunities.The material has been offered by InstaForex Company-www.instaforex.com

By | June 20, 2017

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Recently, the Gold has been trading sideways at the price of $1,245.00. According to the 15M time frame, I found broken bearish flag and hidden bearish divergence on the moving average oscillator, which is a sign that buying looks risky. The short- term trend is bearish. My advice is to watch for potential selling opportunities today. Downward targets are set at the price of $1,243.00 and $1,236.00.

Resistance levels:

R1: $1,245.50

R2: $1,262.45

R3: $1,267.50

Support levels:

S1: $1,241.00

S2: $1,236.00

S3: $1,228.55

Trading recommendations for today: watch for potential selling opportunities.

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

Jonathon Alexander

EUR/USD analysis for June 20, 2017 888011000 110888 Recently, the EUR/USD has been trading downwards. As I anticipated, the price checked the level of 1.1141. Inning accordance with the 30M timespan, I found that cost doesn’t have enough power to decline from yesterday’s low and that sellers are still present. My guidance is to enjoy for selling opportunities today. The downward target is set at the cost of 1.1100. Resistance levels: R1: 1.1195 R2: 1.1240 R3: 1.1270 Assistance levels: S1: 1.1120 S2: 1.1095 S3: 1.1050 Trading suggestions for today: watch for possible selling opportunities.The product has actually been provided by InstaForex Company-www.instaforex.com

By | June 20, 2017

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Recently, the EUR/USD has been trading downwards. As I expected, the price tested the level of 1.1141. According to the 30M time frame, I found that price doesn’t have enough power to reject from yesterday’s low and that sellers are still present. My advice is to watch for selling opportunities today. The downward target is set at the price of 1.1100.

Resistance levels:

R1: 1.1195

R2: 1.1240

R3: 1.1270

Support levels:

S1: 1.1120

S2: 1.1095

S3: 1.1050

Trading recommendations for today: watch for potential selling opportunities.

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

Jonathon Alexander

Trading Prepare for Gold and United States Dollar Index for June 20, 2017 888011000 110888 Technical outlook: Gold has backtracked lower towards fibonacci 0.618 support levels of the entire rally in between $1,213 and $1,296 levels respectively. It is also a point of convergence of fibonacci 0.382 extensions of wave A, as depicted in Red around$1244.00 levels. Please note that Wave A became equivalent to Wave C at$ 1,242/ 43 levels, which is a sign of wave C termination point. Discussing the above convergences and also the wave counts, it looks like the yellow metal has finished wave 1 and 2 after printing lows at $1,241/ 42 levels yesterday. If this structure holds to be true, the next leg ought to be a rally from existing levelstoward at least$1,350.00. On the flip side, a drop listed below$1,241.00 may test $1,235.00 levels before turning greater again.Trading strategy: Please remain long now, stop around$1,230.00 target$1,350. United States Dollar Index chart setups: Technical outlook: The US Dollar Index is seen to be trading at 97.50 levels for now after breaking above the resistance line as seen here. Please keep in mind that the index might be unfolding into wave 4 corrective of a greater degree. It is anticipated to unfold into 3 waves A-B-C as portrayed here. Ideally, prices should drop to one more low and end into wave B, before turning higher to wave C as depicted here. Looking into the wave structure, waves 3-3-5 might unfold prior to the medium-term drop might resume. Immediate resistance is seen at 97.80 levels while assistance is at 96.30 levels respectively. A safe strategy could be to stay flat for now and consider purchase positions at a lower cost near 97.00 levels. On the flip side, an ongoing push higher would suggest even more higher targets around 99.00 levels.Trading plan: Please stay flat in the meantime and think about purchase positions around 97.00 levels, stop at 96.30,targeting 99.00 at least.Fundamental outlook:There is no significant occasion lined up for the rest of the day.Good luck!The materialhas actually been provided by InstaForex Company -www.instaforex.com

By | June 20, 2017

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Technical outlook:

Gold has retraced lower towards fibonacci 0.618 support levels of the entire rally between $1,213 and $1,296 levels respectively. Furthermore, it is also a point of convergence of fibonacci 0.382 extensions of wave A, as depicted in Red around $1244.00 levels. Besides, please note that Wave A became equal to Wave C at $1,242/43 levels, which is an indication of wave C termination point. Speaking about the above convergences and also the wave counts, it looks like the yellow metal has completed wave 1 and 2 after printing lows at $1,241/42 levels yesterday. If this structure holds to be true, the next leg should be a rally from current levels toward at least $1,350.00. On the flip side, a drop below $1,241.00 might test $1,235.00 levels before turning higher again.

Trading plan:

Please remain long now, stop around $1,230.00 target $1,350.

US Dollar Index chart setups:

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Technical outlook:

The US Dollar Index is seen to be trading at 97.50 levels for now after breaking above the resistance line as seen here. Please note that the index might be unfolding into wave 4 corrective of a higher degree. It is expected to unfold into 3 waves A-B-C as depicted here. Ideally, prices should drop towards one more low and terminate into wave B, before turning higher towards wave C as depicted here. Looking into the wave structure, waves 3-3-5 could unfold before the medium-term drop could resume. Immediate resistance is seen at 97.80 levels while support is at 96.30 levels respectively. A safe strategy could be to remain flat for now and consider buy positions at a lower price near 97.00 levels. On the flip side, a continued push higher would indicate further higher targets around 99.00 levels.

Trading plan:

Please remain flat for now and consider buy positions around 97.00 levels, stop at 96.30, targeting 99.00 at least.

Fundamental outlook:

There is no major event lined up for the rest of the day.

Good luck!

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

Jonathon Alexander

Technical analysis of NZD/USD for June 20, 2017 888011000 110888 Introduction: The NZD/USD set is showing indications of force following a breakout of the greatest level of 0.7205( a mjor assistance). Currently, the cost remains in a bullish channel. This is validated by the RSI indicator signaling that we are still in a bullish trending market. The NZD/USD pair continues to move up-wards from the level of 0.7205. As long as the trend is above the price of 0.7205, the marketplace is still in an uptrend. In addition, the pattern is still strong above the moving average(MA100 ). The NZD/USD set didn’t make any significant movements this week. The marketplace is suggesting a bullish chance above the mentioned support levels. The bullish outlook stays valid as long as the 100 EMA heads for the advantage. Strong assistance will be discovered around the area of 0.7159-0.7205 providing a clear signal to purchase with a target seen at 0.7250. If the pattern breaks the very first resistance at 0.7250, the set will move upwards continuing the bullish trend development to the level of 0.7305 in order to test the daily resistance 2. In addition, it must be noted that the significant resistance is seen at 0.7344today. Otherwise, it would also be wise to think about where to put a stop loss; this need to be set below the 2nd assistance of 0.7122. The material has actually been offeredby InstaForex Company-www.instaforex.com

By | June 20, 2017

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Overview:

  • The NZD/USD pair is showing signs of force following a breakout of the highest level of 0.7205 (a mjor support). Currently, the price is in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. So, the NZD/USD pair continues to move upwards from the level of 0.7205. As long as the trend is above the price of 0.7205, the market is still in an uptrend. In addition, the trend is still strong above the moving average (MA100). The NZD/USD pair didn’t make any significant movements this week. The market is indicating a bullish opportunity above the mentioned support levels. The bullish outlook remains valid as long as the 100 EMA heads for the upside. Therefore, strong support will be found around the spot of 0.7159-0.7205 providing a clear signal to buy with a target seen at 0.7250. If the trend breaks the first resistance at 0.7250, the pair will move upwards continuing the bullish trend development to the level of 0.7305 in order to test the daily resistance 2. In addition, it should be noted that the major resistance is seen at 0.7344 today. Otherwise, it would also be wise to consider where to place a stop loss; this should be set below the second support of 0.7122.

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

Jonathon Alexander

South Africa'’s Leading Index Falls Additional

By | June 20, 2017

South Africa’s leading index weakened for the second straight month in April, figures from the South African Reserve Bank showed Tuesday.

The composite leading index fell to 96.7 in April from 97.5 in March. In February, the score was 98.3.

On an annual basis, the leading index increased at a slower rate of 5.3 percent annually in April, following a 5.7 percent increase in the previous month.

Reduces in four of the 10 component time series that were available for
April outweighed increases in the other 6 elements.

The largest unfavorable contributions in April originated from a deceleration in the number of property structure strategies passed and a deterioration in the BER’s Organisation Self-confidence Index.

The coincident index that reflects the existing economic activity climbed to 118.1 in March from 117.6 in February. The delayed index improved to 99.6 from 97.8.

Annual, the coincident index increased 0.3 percent in March and the delayed index by 1.0 percent.

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

Jonathon Alexander