Turkish Lira Declines To 4-day Vs U.S. Dollar After Turkey Decision

By | January 24, 2017

The Turkish Lira deteriorated versus the U.S. dollar in the European session on Tuesday, as the Turkey central bank all of a sudden decided its keep its benchmark rate of interest on hold.

In a statement, the Turkish Reserve bank retained its benchmark one-week repo rate at 8 percent. Economic experts had actually anticipated a 50 basis-point hike to 8.50 percent.

The bank raised its marginal financing rate to 9.25 percent from 8.5 percent. The decision was in line with expectations.

The interest rate has been maintaineded at 7.25 percent, in line with projections.

The Turkish Lira declined to a 4-day low of 3.8285 versus the greenback, off its early 8-day high of 3.7360. The next possible disadvantage target for the Lira is seen around the 3.9 level.

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Jonathon Alexander

Technical analysis of USD/CHF for January 24, 2017 888011000 110888 USD/CHF is expected to continue rising. The technical photo of the pair is positive above an increasing pattern line, and is most likely to challenge its next resistance at 1.0030. The upward momentum is additional strengthened by its rising 50-period and 20-period moving averages, which play assistance functions and keep the upside bias. The relative strength index is above its neutrality level at 50 and does not have downward momentum. Trump signed the executive order to formally withdraw from the 12-nation Trans-Pacific Collaboration trade deal. He likewise revealed plans to begin renegotiating the North American Open market Contract (NAFTA )with the leaders of Canada and Mexico. He even told the US production executives he would impose a seriousborder tax on firms that import items into the United States after moving American factories overseas.As long as assistance holds at 0.9960, search for an additional rise towards 1.0030 as well as 1.0050 in extension. Resistance levels: 1.0030, 1.0050, 1.0070 Assistance levels: 0.9935, 0.9910, 0.9875 The product has actually been supplied by InstaForex Business-www.instaforex.com

By | January 24, 2017

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USD/CHF is expected to continue ascending. The technical picture of the pair is positive above a rising trend line, and is likely to challenge its next resistance at 1.0030. The upward momentum is further reinforced by its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index is above its neutrality level at 50 and lacks downward momentum.

Trump signed the executive order to formally withdraw from the 12-nation Trans-Pacific Partnership trade deal. He also announced plans to start renegotiating the North American Free Trade Agreement (NAFTA) with the leaders of Canada and Mexico. He even told the US manufacturing executives he would impose a severe border tax on firms that import products into the US after moving American factories overseas.

As long as support holds at 0.9960, look for a further rise toward 1.0030 and even 1.0050 in extension.

Resistance levels: 1.0030, 1.0050, 1.0070

Support levels: 0.9935, 0.9910, 0.9875

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

Jonathon Alexander

International macro overview for 24/01/2017

By | January 24, 2017

Global macro overview for 24/01/2017: The series of PMI Flash indications from the Eurozone was launched this morning. Those data offers a fresh outlook for the Eurozone

economy. On the whole, market analysts were optymistic, that the firmer trend in GDP growth will continue. This is why the PMI Flash Composite index was anticipated at the level of 54.5, a 0.1 point higher than a month ago. The figure released was at the level of 54.3, 0.1 points less than anticipated. The very same scenario can be observed at Flash Solutions PMI that was worse than expected reading of 53.9 points by a simple 0.1 points too. The only PMI sub-index that beat market expectations was PMI Flash Production index with 55.1 points provided versus 54.8 points anticipated and 54.9 points a month ago. The greatest responsibility for worse than anticipated figures goes to Germany this time as both Solutions and Composite Flash PMI’s dissapointed market individuals. In conclusion, the PMI Flash data did not deliver the upbeat figures. Nevertheless, the first estimate of the main Q4 GDP scheduled for next week might surprise analysts to the upside.Let’s now take a look at EUR/USD technical image in the 4H time frame. The overlapped cost action recommends a corrective upward cycle in progress, so the drop needs to resume whenever.

The very first sign of the resumption may come with the golden trend line breakout around the level of 1.0650, so please keep an eye at the level.< img width="450 "src=" http://qkfx.com/wp-content/uploads/2017/01/global-macro-overview-for-24012017.jpg" alt ="analytics58872bf1a487c.jpg"/ > The material has actually been provided by InstaForex Company -www.instaforex.com

Jonathon Alexander

Everyday analysis of major pairs for January 24, 2017 888011000 110888 EUR/USD: There is a bullish signal on the EUR/USD set, and just as it was forecasted previously this week, cost is expected to go further northwards. The market moved up beyond the assistance line at 1.0750 yesterday, targeting the resistance lines at 1.0800, 1.0850, and 1.0850. This bullishness would be practical as long as price does not go below the assistance line at 1.0600. USD/CHF: There is a. bearish signal on the USD/CHF set, and simply as it was anticipated previously today,. cost is expected to go further southwards. The marketplace moved up listed below the resistance. line at 1.0000, targeting the assistance lines at 0.9950, 0.9900, and 0.9850. This. bearishness would be sensible as long as price not go above the resistance line. at 1.0000. The resistance line at 1.0000is especially crucial since it. would not be simple to be broken to the benefit, therefore, the present bearishness. is anticipated to hold out longer. GBP/USD: The GBP/USD pair moved up-wards by 170 pips. yesterday, to continue the bullish signal that was started last week. There is. a Bullish Verification Pattern and price may later on reach the circulation. areas at 1.2550, 1.2600, and 1.2650. USD/JPY: Exactly what occurred. the other day revealed that the rally that took place last Thursday and Friday was an. opportunity to sell brief at better rates. Rate went south on Monday,. underlining the recent bearish pattern in the market. Further downwards movement. is expected for the rest of this week. EUR/JPY: The movement on. this currency cross is now rather much like the movement on the USD/JPY set. There. is a Bearish Confirmation Pattern here, and an additional bearish motion is. possible as price targets the need zones at 121.00( the first target), 120.50,. and 120.00. The product has been provided by InstaForex Company- www.instaforex.com

By | January 24, 2017

EUR/USD: There is a bullish
signal on the EUR/USD pair, and just as it was forecasted earlier this week, price
is expected to go further northwards. The market moved up beyond the support
line at 1.0750 yesterday, targeting the resistance lines at 1.0800, 1.0850, and
1.0850. This bullishness would be sensible as long as price does not go below
the support line at 1.0600.

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USD/CHF: There is a
bearish signal on the USD/CHF pair, and just as it was forecasted earlier this week,
price is expected to go further southwards. The market moved up below the resistance
line at 1.0000, targeting the support lines at 0.9950, 0.9900, and 0.9850. This
bearishness would be sensible as long as price not go above the resistance line
at 1.0000. The resistance line at 1.0000 is particularly important because it
would not be easy to be broken to the upside, and so, the current bearishness
is expected to hold out longer.

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GBP/USD: The GBP/USD pair moved upwards by 170 pips
yesterday, to continue the bullish signal that was started last week. There is
a Bullish Confirmation Pattern and price may later reach the distribution
territories at 1.2550, 1.2600, and 1.2650.

3.png

USD/JPY: What happened
yesterday showed that the rally that happened last Thursday and Friday was an
opportunity to sell short at better prices. Price went south on Monday,
underlining the recent bearish trend in the market. Further downwards movement
is expected for the rest of this week.

4.png

EUR/JPY: The movement on
this currency cross is now quite similar to the movement on the USD/JPY pair. There
is a Bearish Confirmation Pattern here, and a further bearish movement is
possible as price targets the demand zones at 121.00 (the first target), 120.50,
and 120.00.

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

Jonathon Alexander

Technical analysis of USD/CAD for January 24, 2017 888011000 110888 General overview for 24/01/2017:The bottom for the wave 2/b (green) might be in location at the level of 1.3212. The rate moved greater above the intraday support at the level of 1.3252 and now is threating to breach the intraday golden trend line. Any breakout above it will be another clue, that the bottom for wave 2/b is in location, nevertheless, the bulls need to still break out above the wave 1/a (green) high at the level of 1.3386 to verify the bottom.Support/ Resistance:1.3018 – Technical Support1.3137 – WS11.3189 – Technical Support1.3252 – Intraday Support1.3261 – Weekly Pivot1.3386 – Intraday Resistance1.3507 – WR1Trading recommendations:The head and shoulder pattern may be finished. If the golden pattern line is plainly breached, then just purchase orders need to be opened with SL listed below the level of 1.3212 and TP at the level of 1.3386. The material has been suppliedby InstaForex Business -www.instaforex.com

By | January 24, 2017

General overview for 24/01/2017:

The bottom for the wave 2/b (green) might be in place at the level of 1.3212. The price moved higher above the intraday support at the level of 1.3252 and now is threating to violate the intraday golden trend line. Any breakout above it will be another clue, that the bottom for wave 2/b is in place, nevertheless, the bulls must still break out above the wave 1/a (green) high at the level of 1.3386 to confirm the bottom.

Support/Resistance:

1.3018 – Technical Support

1.3137 – WS1

1.3189 – Technical Support

1.3252 – Intraday Support

1.3261 – Weekly Pivot

1.3386 – Intraday Resistance

1.3507 – WR1

Trading recommendations:

The head and shoulder pattern might be completed. If the golden trend line is clearly violated, then only buy orders should be opened with SL below the level of 1.3212 and TP at the level of 1.3386.

analytics588714ee3e0b5.jpg

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

Jonathon Alexander

South Korea Customer Confidence Damages Additional

By | January 24, 2017

South Korea’s consumer self-confidence weakened for the 3rd successive month in January, figures from Bank of Korea revealed Tuesday.

The composite consumer sentiment index was up to 93.3 in January from 94.1 in December.

Customer belief on present living standards reduced to 87 in January from 89 in the previous month. Similarly, their outlook intensified by 2.0 indicate 87.0.

The index measuring current domestic economic conditions dropped to 51 in January from 55 in the previous month. At the exact same time, their outlook was two points greater at 67.0.

The expectation for inflation over the list below year was 2.8 percent. The survey was conducted among 2,200 homes in between January 10 and 17.

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

Jonathon Alexander

New Zealand Provider Development At 13-Month High

By | January 24, 2017

New Zealand’s service sector activity expanded at the fastest speed in more than a year in December, survey figures from Service NZ showed Tuesday.

The efficiency of services index, or PSI, reached 58.4 in December from 58.1 in November. Any reading above 50 suggests growth in the sector.

The most current rate of growth was the quickest since November 2015.

Among components, new orders grew further in December, though the rate of boost relieved since November. At the very same time, employment growth improved throughout the month.

“The typical activity result for 2016 was 56.6. While this was somewhat down on the 57.8 recorded for 2015, it was still the 3rd highest typical yearly result since the survey started,” BNZ president Kirk Hope, stated.

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

Jonathon Alexander

Daily analysis of GBP/JPY for January 23, 2017 888011000 110888 Introduction The GBPJPY cost supplied new negative closes below the bearish channel’s resistance at 142.00 forming a brand-new bullish rally by reaching 140.80, which confirms our negative tip. We await recording the expected targets at 140.00 and 138.80 in the medium and near duration. The decline of Stochastic to the oversold level supports the negative suggestion, which provides the required momentum for attaining the suggested targets. Stability of the moving average 55 above the cost trading enhances unfavorable pressure, forcing the price to form an unfavorable attack. The expected trading range for today is in between 141.80 and 140.00. The product has actually been supplied by InstaForex Business-www.instaforex.com

By | January 23, 2017

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Overview

The GBPJPY price provided new negative closes below the bearish channel’s resistance at 142.00 forming a new bullish rally by reaching 140.80, which confirms our negative suggestion. We wait for recording the expected targets at 140.00 and 138.80 in the near and medium period. The decline of Stochastic to the oversold level supports the negative suggestion, which provides the required momentum for achieving the suggested targets. Stability of the moving average 55 above the price trading reinforces negative pressure, forcing the price to form a negative attack. The expected trading range for today is between 141.80 and 140.00.The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander