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  • Weekly Cryptonews

    Check the charts: http://bit.ly/2KsCnPe

    09.08.2019

    Cryptotraders await when the BTC will choose its direction. On Monday bulls confirmed their strength with the strong rise above the 50-day simple moving average and the 50% Fibo level. After that, the consolidation has begun. Bitcoin has been trading in a narrow range between $11,560 (50% Fibo) and $12,030 (61.8% Fibo) levels. If the upper border of the range at $12,030 is broken, the oldest cryptocurrency will rise towards the $12,360 level. The next resistance will lie at $12,770. In case of the alternative scenario, the $11,560 level will be broken and the $10,770 level (50-day SMA) will be in focus.

    After the successfully conducted halving in the Litecoin network on Monday, the digital silver tested the 100-day SMA, but could not stick near that level and started to move down. On Friday, it has tested the support at $84.77. In case of a breakout of this level, the price of Litecoin will try to fall to the levels below the 200-day SMA, where it may find the support at $76.78. If the price of the digital currency reverses, the first resistance will lie at $92.19. The next one will be placed at $98.86.

    The price of Ethereum has been weakening, too. The digital asset has been trading within a month-long range between the $202.04 and $233 levels. After the test of the upper border of this range on Monday, the digital currency has been moving down. If the lower border of the range at $202.04 is broken, the next support will be placed at $192 (50-day SMA). From the upside, the next key resistance will lie at $250.

    The situation has not changed for DASH since the last week. The breakout on Monday appeared to be the fake one and the cryptocurrency returned to the 100.64-106.9 range. From the upside, the next level lies at $113.78. In case of the downward pressure, the key level will be placed at $97.3.




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    • Market updates on August 12

      Check the charts: http://bit.ly/2H1az2g

      12.08.2019

      Key events:

      Speech by RBA Assistant Governor Kent – 23:00 MT (20:00 GMT) time

      During the Asian trading session, the People’s Bank of China once again set its reference rate for USD/CNY at 7.0211 (lower than expected). The USD/CNH pair inched lower on that announcement, but then immediately rose back to the resistance at 7.1080. At the moment the pair is testing the highs above this resistance level. In case of the stronger yuan, watch the levels at 7.0880 and 7.0650.

      After the crucial test of the 1.2015 level, GBP/USD has moved higher towards the resistance at 1.2084. If this level is broken, pay attention to the 50-period SMA, which lies at 1.2145. From the downside, watch for the retest of the 1.2015 level. After that, the further fall will be limited by 1.1993.

      USD/JPY has been moving down. On H4, the price is forming the descending triangle and is looking forward to the test of the 105.04 level. The next support will lie at 104.73. From the upside, pay attention to the 105.7 level. If bulls manage to break it, there is a chance of the rise towards the 106.22 level.

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      • Market updates on August 13

        Check the charts: http://bit.ly/2ORyt6A

        13.08.2019

        British average earnings index – 11:30 MT (8:30 GMT) time

        US CPI and core CPI – 15:30 MT (12:30 GMT) time

        EUR/USD has continued to consolidate between the resistance levels at 1.1210-1.1223 and strong support at 1.1177. Today's release may bring volatility to the pair. If the USD gets stronger, the 1.1177 level may be broken and the next key level will be placed at the crossover of 50- and 100- period SMA at 1.1162. The next support will lie at 1.1147. Otherwise, if the pair manages to overcome the 1.1210-1.1223 range and sticks above the 200-period SMA, the next resistance will lie at 1.1240.

        GBP/USD rose yesterday, but the further upward movement was limited by the upper border of the descending formation at 1.2106. The key levels from the downside lie at 1.2015 and 1.1993. If the GBP is supported, the retest of the 1.2106 level will be possible. The next resistance for the cable lies at 1.2145.

        Gold inched higher on global tensions and uncertainties. The yellow metal has jumped above the $1,510 level and is moving up towards the $1,544 level. In case of softer risk sentiment, gold will slide back below the $1,510 level. The next support will lie at $1,495.

        Now let’s look at the emerging markets. During the Asian trading session, Singapore’s GDP growth for the second quarter fell by 3.3%. Despite that, the Monetary Authority of Singapore does not plan to change its schedule of meetings until October. As a result, USD/SGD broke to its highest levels since 2017. At the moment, the pair is testing the resistance at 1.3885. The next key level will lie at 1.3910. In case of a reversal, pay attention to the support levels at 1.3859 and 1.3844.



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        • Market updates on August 15

          Check the charts: http://bit.ly/2YQvArs

          15.08.2019

          US retail sales and core retail sales – 15:30 MT (12:30 GMT) time

          Philly Fed manufacturing index for the US – 15:30 MT (12:30 GMT) time

          The Australian dollar was supported today by the upbeat jobs data for Australia. The indicator increased by 41.1 thousand jobs (vs the forecast of 14.2 thousand). The aussie rose above the 50-period SMA towards the 0.6783 level, but failed to stick near its highs on the revised forecasts of the upcoming RBA’s rate cuts and retested the 50-period SMA. If the aussie weakens, the pair may fall to the 0.6746-0.6736 levels. After the breakout of this range, the pair may retest the 0.6677 level. If the Australian dollar sticks above the 50-period SMA, the chance of the retest of 0.6783 level will increase. If this level is broken, the next resistance will be placed at 0.6799.

          EUR/USD is awaiting the release of the US indicators. The pair is trading with low volatility on H4. Pay attention to the 1.1150, 1.1157 (100-period SMA) and 1.1166 levels, which may be reached if the releases disappoint the market. From the downside, the key levels will lie at 1.1142, 1.1133 and 1.1116.

          USD/JPY spiked towards the 106.74 level, but then immediately moved down to the 50-period SMA on the 4-hour chart. At the moment of writing the pair has been testing the strong support at 105.8 on H4. In case of a risk-off situation, pay attention to the next support level at 105.52. If the USD is supported, the 106.32-106.22 levels will be in focus.

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          • Market updates on August 14

            more at: http://bit.ly/31EIRjJ

            14.08.2019

            Key events ahead:

            British CPI – 11:30 MT (8:30 GMT) time

            Yesterday the US trade representatives had a productive phone call with China, after which Washington announced that it was delaying the 10% tariffs on some of the Chinese goods. China, in its turn, confirmed that the trade talks between the two leading economies were expected to continue in September. The news boosted the risk sentiment and shook the market impressively. USD/JPY tested the 106.95-107.05 highs (the levels remained untouched since August 6) on the news and corrected to the downside facing the 106.31 support level. From the downside, pay attention to the support levels at 105.99 and 105.8. If bulls push the pair higher, it will rise towards the 106.62 level. After the breakout, the next resistance will lie at 106.74. The next key zone for bulls will lie at 106.95-107.05.

            GBP/USD has been supported by the higher-than-expected CPI data. If the British pound strengthens more, the cable will break the upper border of the range at 1.2073 and test the resistance at 1.2098. If this level is broken, the next resistance will lie at 1.2145. In case of the pound’s weakness, GBP/USD will slide below the 1.2047 level. The next support will lie at 1.2015.

            USD/CNH slid below the 7 level on the softer US-China trade relations. However, after the weaker indicators for China released during the Asian trading session, the pair reversed towards the support-turned-resistance level at 7.0436. Pay attention to the 7.0743 level which will be in focus if risk-off sentiment appears. Alternatively, the support at 7.0066 followed by the 6.9894 level will be in focus.

            Despite the better-than-expected wage price index for Australia, AUD/USD has tested the ground below the 50-period SMA. If it continues to fall, the 0.6763 level will be reached. After that, the aussie will be vulnerable to the fall towards the 0.6749 level. If the risk sentiment increases, the test of the resistance level at 0.6799 will be possible. The next one will lie at 0.6817.



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            • 5 important events this week will bring us!

              More at: http://bit.ly/2Zip7oq

              19.08.2019

              Canadian CPI (Wed, 15:30 MT (12:30 GMT) time) – According to forecasts, the indicator will advance by 0.1%. Higher figures will be appreciated by the CAD bulls.

              FOMC Meeting minutes (Wed, 21:00 MT (19:00 GMT) time) – We will wait for the release, as look for more hints regarding the future rate decisions by the Fed. In case of more hawkish hints, the USD will be supported.

              New Zealand’s retail sales (Fri, 1:45 MT (22:45 GMT) time) – We anticipate the level of retail sales to increase by 0.1%. If the actual figures are higher, the NZD will rise.

              Canadian core retail sales (Fri, 15:30 MT (12:30 GMT) time) – The indicator is expected to decline by 0.1%. Higher figures will be positive for the CAD.

              Speech by the Fed Chair Powell (Fri, 17:00 MT (14:00 GMT) time) – If the Fed Chair sounds hawkish, the USD will go up.

              Hot news:

              The US plans to postpone restrictions that the Trump administration has imposed on China’s Huawei Technologies Co. It increased the risk-on sentiment in the markets.

              Oil prices jumped on the news that Saudi Arabian oil field was attacked by the drone.

              On the Brexit front, the government preparations to the no-deal Brexit were leaked. As a result, Jeremy Corbyn plans to bring opposition parties together next week to discuss the prevention of a no-deal Brexit.

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