Latest

InstaForex TV

<a href=”https://www.instaforex.com/” data-mce-href=”https://www.instaforex.com/”>Forex broker</a>

Tensions in currency market mount



Ahead of Donald Trump’s inauguration on Friday, trading was mixed as the US faced great changes in the spheres of politics, economics and geopolitical relations. The US dollar held on to its highs, but investors remained cautious. The greenback-loonie pair performed well, approaching the 1.5-month high.
On Friday, the US dollar hit the mark of 1.3364 against its Canadian counterpart. Analysts could not provide an accurate outlook for its further movements as at that moment Trump did not deliver his inauguration speech yet.
However, downbeat macroeconomic statistics released in Canada placed pressure on the loonie. Retail sales growth slowed down in the country.
According to official data, retail sales edged up by 0.2 percent after the previous increase of 1.2 percent. Experts had expected a faster rise of 0.5 percent.
Core retail sales excluding autos inched up by 0.1 percent in November following the advance of 1.4 percent in October. Analysts had anticipated the growth of 0.2 percent.
The core consumer price index in Canada also dropped by 0.3 percent in December. Economists had projected a mere fall of 0.2 percent. In November core consumer prices declined by 0.5 percent.
At the latest monetary policy meeting, the Bank of Canada decided to stand pat on its key interest rate.
Monday is likely to be rather lively as the currency market sentiment will be still influenced by the inauguration of the US President. https://www.instaforex.com

Technical analysis of GBP/USD for January 23, 2017

GBPUSDH4.png

Overview:

  • On the four-hours chart, the GBP/USD pair continues moving in a bullish trend from the support levels of 1.2287 and 1.2380. 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. As the price is still above the moving average (100), immediate support is seen at 1.2380, while the weekly strong support is found at 1.2287. Consequently, the first support is set at the level of 1.2380. The market is likely to show signs of a bullish trend around the spot of 1.2380 – 1.2450. In other words, buy orders are recommended above the 1.2450 level with the first target at the level of 1.2605. Furthermore, if the trend is able to break through the first resistance level of 1.2605, we will see the pair climbing towards the double top (1.2774) to test it in coming days (this week). Thus, the market is indicating a bullish opportunity above the support levels of 1.2380 – 1.2450, for that the bullish outlook remains the same as long as the 100 EMA is headed to the upside. It would also be wise to consider where to place a stop loss; this should be set below the second support of 1.2287.

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

Technical analysis of EUR/USD for January 23, 2017

1485156399_EURUSDH1.png

Overview:

  • The EUR/USD pair is trading around the area of 1.1280 – 1.1233. Today, the level of 1.1223 represents a weekly pivot point in the H1 time frame. The pair has already formed minor resistance at 1.1308 and the strong resistance is seen at the level of 1.1388 because it represents the weekly resistance 1. So, major resistance is seen at 1.1388, while immediate support is found at 1.1223. If the pair closes below the weekly pivot point of 1.1223, the EUR/USD pair may resume it movement to 1.1103 to test the weekly support 1. From this point, we expect the EUR/USD pair to move between the levels of 1.1308 and 1.1103. Equally important, the RSI is still calling for a strong bearish market. As a result, sell below the weekly pivot point of 1.1223 with targets at 1.1103 and 1.1057 in order to form a double bottom. On the other hand, stop loss should always be taken into account, accordingly, it will be of beneficial to set the stop loss above the last bullish wave at the level of 1.1400 because the strong resistance has been already found at 1.1388.

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

Валютный рынок накалился до предела

http://www.youtube.com/watch?v=e53Y-YJXERQ

Перед инаугурацией Дональда Трампа в пятницу валютный рынок пребывал в замешательстве, ведь наступала совершенно новая эра американской политики, геополитических отношений и экономики страны. Американский доллар находился на максимумах, но инвесторы вели себя крайне осторожно. Стоит обратить внимание на пару USD/CAD, которая приближалась к полуторамесячному максимуму.
В пятницу американский доллар вырос против канадского противника до отметки 1.3364. Аналитики не рисковали прогнозировать дальнейшее движение, так как всё на тот момент зависело от речи Дональда Трампа во время принятия присяги президента США.
Но определенное давление на канадский доллар оказала макроэкономическая статистика Страны кленового листа, которая оказалась хуже прогнозов экспертов. Замедление роста продемонстрировали розничные продажи.
Согласно официальным данным, в ноябре показатель вырос на 0,2% после предыдущего увеличения на 1,2%. Эксперты предполагали рост индикатора на 0,5%.
Базовый индекс розничных продаж, за исключением авто, в ноябре вырос на 0,1% после увеличения значения в октябре на 1,4%. Аналитики прогнозировали рост индикатора на 0,2%.
Также сокращение продемонстрировал базовый индекс потребительских цен в Канаде на 0,3% в декабре. Экономисты ожидали меньшего падения показателя — на 0,2%. В ноябре индикатор снизился на 0,5%.
Стоит отметить, что ранее Банк Канады принял решение оставить процентную ставку без изменений, что оказалось весьма кстати, так как экономика страны демонстрирует не самые лучшие результаты. Сегодня день обещает быть интересным с точки зрения валютного мира. Рынок будет обсуждать уже прошедшую инаугурацию президента США. https://www.instaforex.com/ru/

Elliott wave analysis of EUR/NZD for January 23, 2017

analytics5885a2db80c01.png

EUR/NZD – Daily

analytics5885a2ef13ef0.png

EUR/NZD – 4-Hourly

Wave summary:

The correction in wave ii/ is likely to complete near the 88.6% corrective target seen at 1.4720 and wave iii/ higher towards 1.5837 is now unfolding. We have seen the first minor indication that a corrective low is in place, with the break above minor resistance at 1.4927, but we need more evidence to confirm this is the case. Therefore we would like to see resistance at 1.5003 and more importantly resistance at 1.5193 broken too, which will confirm the rally towards 1.5837 as the next target.

R3: 1.5172

R2: 1.5003

R1: 1.4945

Pivot: 1.4914

S1: 1.4857

S2: 1.4830

S3: 1.4720

Trading recommendation:

We are long EUR from 1.4886 with stop placed at 1.4650. If you are not long EUR yet, then buy a break above 1.4943 or upon a break above 1.5003 and use the same stop at 1.4650.

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

Elliott wave analysis of EUR/JPY for January 23, 2017

analytics5885a0c075d79.png

EUR/JPY – Daily

analytics5885a0d705d87.png

EUR/JPY – 4 Hourly

Wave summary:

We are currently looking for a minor correction in the red wave ii towards 121.46 before the next impulsive rally in the red wave iii can be expected towards 125.37. We are now in the final impulsive rally of the wave 3 towards the ideal target seen at 125,54 from where a larger correction is expected.

To indicate that the correction in the wave ii is completed, a break above minor resistance at 122.23 and more importantly a break above resistance at 122.87 is needed.

R3: 122.87

R2: 122.68

R1: 122.23

Pivot: 121.83

S1: 121.46

S2: 121.28

S3: 120.89

Trading recommendtion:

We are long EUR from 121.40 with stop placed at 120.45. If you don’t have any long positions yet, then buy near 121.46 or upon a break above 122.23 and use the same stop at 120.45.

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

Technical analysis of EUR/USD for Jan 23, 2017

EURUSD.jpg

When the European market opens, some Economic Data will be released, such as Consumer Confidence. Today, the US will not release any economic data, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY’S TECHNICAL LEVEL:

Breakout BUY Level: 1.0775.

Strong Resistance:1.0769.

Original Resistance: 1.0758.

Inner Sell Area: 1.0747.

Target Inner Area: 1.0722.

Inner Buy Area: 1.0697.

Original Support: 1.0686.

Strong Support: 1.0675.

Breakout SELL Level: 1.0669.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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

U.K. Set To Undergo Slower Growth: EY ITEM Club

The U.K. economy is set to undergo a fairly gradual dip and recover over the coming four years as the country is set to initiate steps to leave the EU this year.

According to the EY ITEM Club winter forecast, released Monday, the economy has to shift its reliance from consumer spending towards exports as households started to contain their expenditure due to rising inflation.

Consumer price inflation accelerated to 3.1 percent in the final quarter of 2017 due to the recent slump in sterling. However, the weak pound and a softer domestic market are likely to encourage U.K. exports.

While economic growth will be better balanced it is also likely to be slower, the think tank noted.

The ITEM Club expects GDP growth to reach 1.3 percent this year instead of 0.8 percent it projected in October last year. Growth is forecast to ease to just 1 percent in 2018.

“We now expect the impact of Brexit on the UK economy to be shallower, but more prolonged than we did in October,” Peter Spencer, chief economic advisor to the EY ITEM Club, said. “However, there is a sea change coming over the next three years.”

Citing weak growth, employment is forecast to rise by just 0.2 percent in 2017, before falling 0.2 percent in 2018. The forecast sees unemployment rising from 4.8 percent in the final quarter of 2016 to more than 6 percent by the end of 2018.

The Bank of England is forecast to hold interest rates at the current 0.25 percent until the spring of 2018.

The think tank said inflation is set to rise temporarily to 3.1 percent by the final quarter of this year before easing to the BoE’s 2 percent target next year.

The most likely outcome of the ‘Brexit’ vote is that the UK will be trading with the EU under World Trade Organization rules by the end of the decade, the EY ITEM Club said.

Exports are forecast to grow 3.3 percent this year and 5.2 percent in 2018. Net exports will add an average of 0.75 percent a year to UK GDP from 2018 to 2020.

“Trade performance and growth in 2019 and beyond will depend critically upon the exit terms that can be agreed with the EU27 and other countries,” Spencer added.

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

Technical analysis of USD/JPY for Jan 23, 2017

USDJPY.jpg

In Asia, Japan will release the All Industries Activity m/m, and the US will not release any Economic Data today. So, there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY’S TECHNICAL LEVEL:

Resistance. 3: 114.13.

Resistance. 2: 113.91.

Resistance. 1: 113.69.

Support. 1: 113.41.

Support. 2: 113.19.

Support. 3: 112.97.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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

Prime News: Abe seeks to highlight Japanese companies’ boost to US economy

Prime Minister Shinzo Abe has a mission: explain to US President Donald Trump how Japanese companies have contributed to the American economy and attain his understanding.

Addressing parliament members, the premier said Monday there was no change to his stance that Barack Obama’s successor was a reliable leader and he sought to set a meeting with him the soonest time possible.

Abe, prior to Trump’s oath taking, pledged to cooperate with Trump in a bid to strengthen relations between Japan and the United States.

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