Gold Holds Strong Post-Fed Gains

By | March 16, 2017

Gold futures settled sharply greater Thursday, protecting strong gains in the wake of the other day’s remarkably sanguine Federal Reserve declaration.

April gold rallied by $26.40, or 2.2%, to settle at $1,227.10/ oz, a two-week high.

The Fed raised rates of interest however projected reasonably lukewarm economic growth for the next 3 years, implying rates will rise just slowly from here.

The dollar softened on the news, improving gold and other products.

On the other hand, the Bank of England held its essential rate of interest at 0.25 percent this morning, as anticipated. It was a split vote, however, as one member considered it appropriate to hike the rate by a quarter point.

There was little reaction to a variety of economic information.

Philadelphia-area manufacturing activity grew at a slower rate in the month of March, the Federal Reserve Bank of Philadelphia exposed.

The Commerce Department revealed a rebound in brand-new U.S. domestic construction in the month of February, the report likewise revealed a sharp pullback in structure permits.

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

Jonathon Alexander

EURGBP Essential Analysis March 16, 2017 888011000 110888 EURGBP had actually been in a problem because the start of the week prior to the BoE authorities rate was revealed today. Some reports did not came true, the Bank of England did not change its official bank rate and it is the very same as previous at 0.25%. Along with the main bank rate, GBP Asset Purchase Facility report was likewise released unchanged at 435B. Though EUR had Last CPI reports released today, which was also unchanged at 2.0%, the occasions preferred GBP as the most crucial bank rate was unchanged or had no unfavorable impact on the currency after the Fed’s funds rate was increased from 0.75% to 1% at last night FOMC Meeting. GBP is stated to get ground versus EUR in the coming days.Now let uslook at the technical view. The cost has actually bounced off from the most important occasion level of 0.8761 today. The bearish engulfing pressure today did engulf the last 2 days of rate action, and it is anticipated that the rate is going to move lower towards the next assistance at 0.8420 in the coming days. As the marketplace is inside a large restorative structure, a great quantity of volatility is anticipated prior to the cost moves down to the upcoming support. The product has actually been supplied by InstaForex Company -www.instaforex.com

By | March 16, 2017

EURGBP had been in a dilemma since the start of the week before the BoE official rate was announced today. Some rumors did not came true, the Bank of England did not change its official bank rate and it is the same as previous at 0.25%. Along with the official bank rate, GBP Asset Purchase Facility report was also published unchanged at 435B. Though EUR had Final CPI reports published today, which was also unchanged at 2.0%, the events favored GBP as the most important bank rate was unchanged or had no negative impact on the currency after the Fed’s funds rate was increased from 0.75% to 1% at last night FOMC Meeting. So GBP is said to gain ground against EUR in the coming days.

Now let us look at the technical view. The price has bounced off from the most important event level of 0.8761 today. The bearish engulfing pressure today did engulf the last 2 days of price action, and it is expected that the price is going to move lower towards the next support at 0.8420 in the coming days. As the market is inside a large corrective structure, a good amount of volatility is expected before the price moves down to the upcoming support.

analytics58cab4be31345.jpg

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

Jonathon Alexander

EURAUD Essential Analysis March 16, 2017 888011000 110888 EURAUD just recently found support at 1.3730 before bouncing off towards 1.41. Nevertheless, presently the price is stuck between the 1.3730-1.4130 area. Today was an essential fundamental day for EUR and AUD. Today Australia released its Employment Change report, which was anticipated to be at 16.3 k but was unfavorable at -6.4 k; as an outcome, the Joblessness rate likewise showed an increased worth of 5.9% which was expected to be at 5.7%. On the other hand, EUR Last CPI report was unchanged at 2.0%, but the unfavorable labor market information from Australia did affect the pair and helped EUR to get some strength over AUD. From now on, EUR is expected to acquire more versus AUD in the upcoming days.Now let ustake a look at the technical view. The rate is presently at the middle of the 1.3730-1.4130 location. As EUR had basic advantage over AUD, it is expected that the price will reach 1.4130 soon. If today the rate closes with a bearish close below the yesterday’s low, we will shift our bullish predisposition to bearish. If the price stays above the 20 EMA, upcoming bullish relocations are anticipated. The material has actually been provided by InstaForex Company -www.instaforex.com

By | March 16, 2017

EURAUD recently found support at 1.3730 before bouncing off towards 1.41. However, currently the price is stuck between the 1.3730-1.4130 area. Today was a very important fundamental day for EUR and AUD. Today Australia released its Employment Change report, which was expected to be at 16.3k but was negative at -6.4k; as a result, the Unemployment rate also showed an increased value of 5.9% which was expected to be at 5.7%. On the other hand, EUR Final CPI report was unchanged at 2.0%, but the negative labor market data from Australia did affect the pair and helped EUR to gain some strength over AUD. From now on, EUR is expected to gain more against AUD in the upcoming days.

Now let us look at the technical view. The price is currently at the middle of the 1.3730-1.4130 area. As EUR had fundamental advantage over AUD, it is expected that the price will reach 1.4130 soon. However, if today the price closes with a bearish close below the yesterday’s low, we will shift our bullish bias to bearish. If the price remains above the 20 EMA, upcoming bullish moves are expected.

analytics58caa83d71ba7.jpg

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

Jonathon Alexander

Trading Prepare for EUR/USD and Gold for March 16, 2017 888011000 110888 Technical outlook: The EUR/USD per hour chart depicted here is now showing that the forecasted ending diagonal structure yesterday is coming to an end or has already terminated at 1.0740 today during early hours of trade. We need to accept the fact that corrective waves are the most tricky things to deal with sometimes. The EUR/USD chart considering that January 2017 is a traditional example of this idea. Now it looks like the pair is ready to drop towards parity in the nearest weeks. The line in sand stays 1.0830/ 50 level. If rates stay below that level, the set is poised to resume its down pattern in a quick manner. The first stop should be 1.0600 level to verify that a significant lower high is in place at 1.0740 today. Please note that EUR/USD could press one more time to 1.0757 before reversing. Immediate resistance is at 1.0850, while assistance is at 1.0600 respectively. Trading strategy: Please continue holding shorts in the meantime, stop at 1.0850, target 1.0600, 1.0300 and lower. Trade entry materializes today and targets will unfold in a couple days to a couple of weeks.Gold chart setups: Technical outlook: Gold has produced the rally as anticipated and talked about the other day. Please kindly take revenues on the long positions started yesterday because a few possible wave counts are portrayed on the short-term chart above. Please keep in mind that the present rally from$1,195 levels has unfolded into 3 waves identified as a-b-c on the above chart. Note that the termination point of the drop from$1,264 has actually been identified as A (possible that the entire drop has unfolded into 5 waves identified i through v). Now if this wave count holds true, then Gold will set up for another round of bearishness which might push rates below $1,195 and terminate through $1,175. As an alternate count though, the rally from $1,195 levels might be identified as i through iii and might continue forming waves iv and v consequently. Because both counts are probable, we would like to stay flat in the meantime. However a drop below $1,210 would validate that Gold is heading lower to $1,175. Trading plan:Please book revenues for long positions taken yesterday and kindly remain flat. Basic outlook:With the financial calendar being nearly light for the rest of the day, focus shall remain more on the chart views presented above and instruments need to move at a typical speed. Overall, USD bullishness is expected to continue even after a minor problem yesterday. Great luck!The material has been offered by InstaForex Company – www.instaforex.com

By | March 16, 2017

analytics58ca8f4c7a199.jpg

Technical outlook:

The EUR/USD hourly chart depicted here is now indicating that the projected ending diagonal structure yesterday is coming to an end or has already terminated at 1.0740 today during early hours of trade. We have to accept the fact that corrective waves are the most tricky things to deal with at times. The EUR/USD chart since January 2017 is a classic example of this idea. However, now it looks like the pair is ready to drop towards parity in the nearest weeks. The line in sand remains 1.0830/50 level though. If prices remain below that level, the pair is poised to resume its down trend in a swift manner. The first stop should be 1.0600 level to confirm that a meaningful lower high is in place at 1.0740 today. Please note that EUR/USD could push one more time towards 1.0757 before reversing finally. Immediate resistance is at 1.0850, while support is at 1.0600 respectively.

Trading plan:

Please continue holding shorts for now, stop at 1.0850, target 1.0600, 1.0300 and lower. Trade entry materializes today and targets will unfold in a couple days to a few weeks.

Gold chart setups:

analytics58ca926ce2e51.jpg

Technical outlook:

Gold has produced the rally as expected and discussed yesterday. Please kindly take profits on the long positions initiated yesterday since a couple of possible wave counts are depicted on the short-term chart above. Please note that the current rally from $1,195 levels has unfolded into 3 waves labelled as a-b-c on the above chart. Besides, note that the termination point of the drop from $1,264 has been labelled as A (possible that the entire drop has unfolded into 5 waves labelled i through v). Now if this wave count holds true, then Gold will set up for another round of bearishness which could push prices below $1,195 and terminate through $1,175. As an alternate count though, the rally from $1,195 levels could be labelled as i through iii and could continue forming waves iv and v subsequently. Since both counts are probable, we would like to remain flat for now. But a drop below $1,210 would confirm that Gold is heading lower towards $1,175.

Trading plan:

Please book profits for long positions taken yesterday and kindly remain flat.

Fundamental outlook:

With the economic calendar being almost light for the rest of the day, focus shall remain more on the chart views presented above and instruments should move at a normal pace. Overall, USD bullishness is expected to continue even after a minor setback yesterday.

Good luck!

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

Jonathon Alexander

EUR/JPY right on major assistance, remain bullish

By | March 16, 2017

Rate has reached our revenue target from 2 days ago. We turn bullish above 121.15 assistance(Fibonacci retracement, horizontal overlap support) for a push up to 122.88 resistance (swing high resistance, Fibonacci extension) once again.Stochastic (55,5,3)is

seeing strong assistance above the 4.5%level. Purchase above 121.15.

Stop loss at 119.95. Take revenue at 122.88. The material has actually been supplied by InstaForex Business – www.instaforex.com

Jonathon Alexander

AUD/JPY on major resistance, prepare to sell

By | March 16, 2017

Price is now checking significant resistance at 87.49(Fibonacci extension, horizontal resistance, bearish divergence)where we anticipate a drop to at least 86.45 assistance (Fibonacci retracement, horizontal swing low assistance).

Stochastic (34,5,3) is seeing major resistance as well as bearish divergence signifying an approaching bearish turnaround is approaching.Sell listed below 87.49.

Stop loss at 87.68. Take revenue at 86.45. The product has been supplied by InstaForex Company – www.instaforex.com

Jonathon Alexander

Czech PPI Increases More Than Expected In February

By | March 16, 2017

Czech producer prices increased for the 2nd straight month in February, and at an accelerated speed, the Czech Statistical Workplace reported Thursday.

Industrial manufacturer rates increased 3.1 percent year-over-year in February, faster than the 2.1 percent boost in January. That was just above the 3.0 percent climb expected by financial experts.

Rates of coke and fine-tuned petroleum products grew significantly in February from a year back, the company stated,

Among the primary commercial groupings, prices of energy increased the most by 8.3 percent.

On a regular monthly basis, producer prices went up 0.4 percent in February.

In a different report, the statistical workplace revealed that import costs climbed up at a faster rate of 4.2 percent yearly in January, after a 1.5 percent increase in the previous month.

At the same time, export rates rebounded 1.5 percent in January, following a 0.5 percent drop in December.

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

Jonathon Alexander

Technical analysis of NZD/USD for March 16, 2017 888011000 110888 Introduction: The NZD/USD pair was trading around the location of 0.7075-0.6946 Today, the level of 0.7075 represents the double top on the H4 chart. The set has currently formed small resistance at 0.6946 and the strong resistance is seen at the level of 0.7004 since it represents the weekly resistance 1. So, significant resistance is seen at 0.7004, while immediate support is discovered at 0.6889. The NZD/USD pair set resume its movement motion 0.6850 to test check daily support Assistance if the set closes listed below the price of 0.6889. We anticipate the NZD/USD pair to move between the levels of 0.6946 and 0.6850. Similarly crucial, the RSI is still calling for a strong bearish market. The current rate is also below the moving typical 100. As an outcome, sell listed below the double top of 0.6946 with targets at 0.6869 and 0.6850.Stop loss needs to always be taken into account; appropriately, it will be excellent to set the stop loss above the last bullish wave at the level of 0.7004. The product has been offered by InstaForex Company-www.instaforex.com

By | March 16, 2017

1489662736_USDCHFH4in.png

Overview:

  • The NZD/USD pair was trading around the area of 0.7075- 0.6946 Today, the level of 0.7075 represents the double top on the H4 chart.
    The pair has already formed minor resistance at 0.6946 and the strong resistance is seen at the level of 0.7004 because it represents the weekly resistance 1.
    So, major resistance is seen at 0.7004, while immediate support is found at 0.6889.
    If the pair closes below the price of 0.6889, the NZD/USD pair may resume its movement to 0.6850 to test the daily support 2. We expect the NZD/USD pair to move between the levels of 0.6946 and 0.6850.
    Equally important, the RSI is still calling for a strong bearish market. The current price is also below the moving average 100.
    As a result, sell below the double top of 0.6946 with targets at 0.6869 and 0.6850.
    However, stop loss should always be taken into account; accordingly, it will be good to set the stop loss above the last bullish wave at the level of 0.7004.

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

Jonathon Alexander