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Introduce Yourself / Re: Daily analysis from instaforex
« Last post by Instaforexbuk on Today at 08:29:04 AM »
Wave analysis of the GBP / USD pair for August 16, 2017

Analysis of wave counting: Yesterday's GBP / USD trades started with a downward movement. After losing more than 120 percentage points, it dropped to the level of 1.2845 in the afternoon. Thus, it can be assumed that the currency pair did not give the wave (b) in a form of a horizontal triangle with a decreasing corrective structure that originated from the maximum on August 3. As a result of this decline, it passed to the stage of wave (s) formation. If this happens, the ratio between the dimensions of waves a and c in a downward correction allows the probability of the continuation of a decrease in quotations to the level of 1.2790 or even almost to the level of the 27th figure.

Objectives for building a downward wave:

1,2835 - 61,8% by Fibonacci

1,2789 - 76.4% Fibonacci retracement Goals for building an upward wave: 1,3000 - 1,3100 General conclusions and trade recommendations: The British currency may have completed the construction of wave 3 or C in the upward trend section. In this case, it may be necessary to adjust the internal structure of this wave which is more complicated. The last section of the trend is a three-wave correctional structure a-b-c. Thus, the decline of quotations will continue with targets near the estimated levels of 1.2835 and 1.2789 that corresponds to 61.8% and 76.4% Fibonacci within the wave (s).

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Introduce Yourself / Re: Wave Analysis by InstaForex
« Last post by InstaForex Gertrude on Yesterday at 11:16:35 PM »
Technical analysis of EUR/USD for Aug 16, 2017

When the European market opens, some Economic Data will be released, such as Flash GDP q/q and Italian Prelim GDP q/q. The US will release the Economic Data, too, such as FOMC Meeting Minutes, Crude Oil Inventories, Housing Starts, and Building Permits, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

Breakout BUY Level: 1.1796.
Strong Resistance:1.1789.
Original Resistance: 1.1778.
Inner Sell Area: 1.1767.
Target Inner Area: 1.1739.
Inner Buy Area: 1.1711.
Original Support: 1.1700.
Strong Support: 1.1689.
Breakout SELL Level: 1.1682.

Analysis are provided byInstaForex.
Introduce Yourself / Re: Forex News from InstaForex
« Last post by InstaForex Gertrude on Yesterday at 08:24:23 PM »
Wall Street Flat as Retail Stocks Sharply Drop

U.S. equities closed little changed on Tuesday as losses in Home Depot and other retailers followed results which counterbalanced strong U.S. retail sales data.

The Dow Jones industrial average edged up 0.02 percent to end at 21,998.99, with Home Depot contributing the most losses. The S&P 500 slipped 0.05 percent to 2,464.61, as telecommunications lagged behind. The Nasdaq composite was down 0.11 percent to 6,333.01.

The SPDR S&P Retail ETF (XRT) dropped 2.7 percent.

Advance Auto Parts marked their worst day ever after reporting lower-than-expected earnings. Dick's Sporting Goods tumbled 23 percent after its results fell short of expectations. The company also lowered its 2017 outlook.

Home Depot reported better-than-expected earnings and sales for the second quarter. However, its stocks dropped 2.7 percent. Investors seem to be worried about supply constraints in the housing market which could add more pressure on the company's future earnings. Bank stocks climbed following higher-than-expected economic data which raised Treasury yields.

General Electric fell 0.9 percent and dropped to an intraday low of $25.10, its weakest point since October 2015. A quarterly report from Warren Buffett's Berkshire Hathaway Inc revealed that it reduced its investment in the industrial company.

News are provided byInstaForex.
Introduce Yourself / Re: Forex News from InstaForex
« Last post by InstaForex Gertrude on Yesterday at 07:57:54 PM »
Australia Leading Index Climbs 0.12% In July

The Australian economy picked up steam in July, the latest survey from Westpac Bank revealed on Wednesday.

The bank's leading index moved up 0.12 percent on month, the bank said.

That follows the downwardly revised 0.15 percent decline in June (originally 0.14 percent).

News are provided byInstaForex.
Introduce Yourself / Re: Daily analysis from instaforex
« Last post by Instaforexbuk on Yesterday at 06:44:04 AM »
Analysis of Gold for August 15, 2017

Recently, the Gold has been trading downwards. As like I expected, the price tested the level of $1,272.45. My first downward target from yesterday at the price of $1,274.00 has been met. According to the Daily time frame, I found evening star formation in the background, which is a sign that we got changing in trend dynamic from bullish to bearish. My advice is to watch for a potential breakout of support ($1,274.00) for the further lower price. The next downward target is set at the price of $1,254.00. Stochastic Oscillator is in an overbought condition, which is another sign of weakness.

 Resistance levels:

R1: $1,296.45

R2: $1,302.50

 R3: $1,308.65

Support levels:

S1: $1,284.30

S2: $1,278.10

S3: $1,272.00

Trading recommendations for today: watch for potential selling opportunities.

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Introduce Yourself / Re: Wave Analysis by InstaForex
« Last post by InstaForex Gertrude on August 14, 2017, 11:09:10 PM »
AUD/JPY reversing nicely below our selling area, remain bearish

The price dropped really nicely from our selling area yesterday. We remain bearish looking to sell below strong resistance at 86.57 (Fibonacci retracement, Fibonacci extension) for a corrective drop towards 85.42 support (Fibonacci extension, horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance at 91% and also intermediate resistance at 64%.

Correlation analysis: We're seeing JPY strength with drops on AUD/JPY, EUR/JPY, and USD/JPY.

Sell below 86.57. Stop loss is at 85.42. Take profit is at 87.17.

Analysis are provided byInstaForex.
Introduce Yourself / Re: Forex News from InstaForex
« Last post by InstaForex Gertrude on August 14, 2017, 08:28:26 PM »
Wall Street Higher as North Korea Tensions Dwindle Down

U.S. stocks closed higher on Monday from the previous week's selloff, as traders saw geopolitical tensions subsiding.

The Dow Jones industrial average climbed 0.62 percent to 21,993.71, as Goldman Sachs, Apple and Boeing contributed the most advances.

The S&P 500 advanced one percent to 2,465.84, as the information technology ended at a record peak. The S&P also recorded its best day since April 24, when it climbed 1.08 percent. The Nasdaq composite gained 1.34 percent to 6,340.23, with shares of Amazon, Facebook and Tesla all increasing.

The CBOE Volatility index, Wall Street's fear gauge, dropped over three points after it jumped to a nine-month peak last week.

Technology shares were among stocks that gave the index its largest boost. Apple rose 1.5 percent and the S&P 500 technology index climbed 1.6 percent.

Tesla advanced 1.7 percent after two brokerages increased their price targets on the stock, citing possible success of the firm's Model 3 sedan.

Snap Inc rose 6.5 percent after notching a record low early in the session, as investors posted their stakes in the social media firm while a wave of employees became eligible to sell their shares.

Prime News are provided byInstaForex.
Introduce Yourself / Re: Forex News from InstaForex
« Last post by InstaForex Gertrude on August 14, 2017, 07:57:06 PM »
VALE: Company To Increase Corporate Governance Level Sooner Than Expected

The chief executive officer of the Brazilian miner Vale, Fabio Schvartsman, said that the company could enter the Novo Mercado stock market segment - which means that the firm will follow the highest standards of corporate governance available in Brazil - sooner than expected.

"We do not have the date yet, but we will do everything at reach to make it fast. It is possible that it will happen later this year," the executive said in a teleconference with reporters.

His statement came after Vale's stockholders agreed to convert 84.4% of the company's preferred shares into common shares. According to Schvartsman, nobody expected such high level of commitment to the share conversion process.

Now, Vale is reviewing what to do with the remaining preferred shares. One possibility would be to hold a new shareholder meeting to convert those stocks. Schvartsman also reiterated that it would not be necessary to use company money to buy the shares, since shareholders who did not join the conversion did not do so due to regulatory issues, such as index funds abroad.

Vale needed a conversion rate of at least 54.09% to proceed with its corporate restructuring and for changes in corporate governance, such as those required to enter the Novo Mercado segment.

After the conversion, Valepar - Vale's controlling shareholder - will merge with and into the mining company. Valepar is formed by Bradesco, Mitsui, BNDESPar and state pension funds, such as Previ. In this way, shareholders linked to the government will have smaller shares.

Asked about government participation in the company, Schvartsman said that this issue is "100% solved" and that government interference in the company "is a page turned." "Not that there was interference, but the government is very welcome as a minority shareholder," he said.

News are provided byInstaForex.
Introduce Yourself / Re: Daily analysis from instaforex
« Last post by Instaforexbuk on August 14, 2017, 08:55:32 AM »
Positive expectations for the dollar


 The past Friday closed with a slight increase in the euro and the pound due to the weaker than expected July inflation in the US. The consensus forecast for consumer prices implied an increase of 0.2% in both the basic CPI and the general CPI. However, for both indices, the growth was 0.1%. On an annual basis, the CPI rose from 1.6% to 1.7% with expectations at 1.8% . Meanwhile, the basic CPI remained at the expected 1.7% y / y. Also, the representatives of the Federal Reserve Bank R. Kaplan and N. Kashkari acted relatively gently about the prospects for monetary policy. They focused on the fresh report on consumer prices. The probability of a December rate increase in December fell to 35.4%. Investors are moving the next increase to March next year (52.7%). In spite of this, the markets will have enough as the Fed begins to wind down its balance sheet starting in September. By its action, this measure is similar to raising the rate. This is because it will put pressure on the yield of bonds and create a currency deficit. Truly, there is one trick here. If the Fed lowers the rate on excess reserves of banks, which now stands at 1.25%, the banks will withdraw these funds from the cache to the Fed and invest in commodity markets (and if everything is quiet, then the stock market). And then the commodity markets will drag the dollar down, as it was in 2007. On Wednesday, the minutes from the last meeting of the Fed will be published. The mood of the committee shows that it can already be written that it will start reducing the balance in September. This week, important macroeconomic data will come out. According to forecasts, the advantage may be on the side of the dollar. Tomorrow, there will be data on retail sales in the US for July with a 0.4% forecast and for base sales (excluding cars) a 0.3% forecast. For the euro, we are waiting for a decline to 1.1640.

On the British pound, the upward correction may continue as the British CPI indicators for July are published with positive forecast. According to the basic CPI, the growth is from 2.4% y / y to 2.5% y / y. According to the general CPI, the growth is 2.7% y / y versus 2.6% y / y in June. We are waiting for growth in the range of 1.3095-1.3115.

AUD / USD Last weekend, the mutual intimidation of North Korea and the United States was noticeably reduced. Market participants found this fact to be a return to initial positions. We agree with this assessment of the situation as the US is more concerned about the Chinese technological espionage. This will be the press conference of D. Trump today. It is possible that the US will impose sanctions on China or, more likely, increase import duties. Also, the US is interested in the pressure on the DPRK by China. With these sentiments, the stock indices of the ATR are growing today. The Australian dollar is adding 12 points, although not without a general weakening of the US dollar. However in China, apart from political blackmail, not everything is good, including their economic indicators. Data released today on industrial production for the July estimate showed a drop from 7.6% y / y to 6.4% y / y. The expectation was a slower decline to 7.2% y / y. Investments in fixed assets decreased from 8.6% y / y to 8.3% y / y. Retail sales in July decreased from 11.0% y / y to 10.4% y / y. Real estate sales decreased from 16.1% for the first half of last year to 14.0% for the same period of this year. All of this indicates a clear slowdown in China's economy and there were forecasts that GDP this year will not reach the expected 6.5% which has already been lowered from an earlier forecast of 6.7%. The cost of metal fittings fell on Friday by 2.7% with iron ore falling by 1.3%, to 72.81 dollars. Tomorrow, the protocol from the RBA meeting last August 1 will be published. It is expected to be have a moderately aggressive attitude towards the "high rate" of the Australian dollar. We are waiting for quotation in the range of 0.7710 / 30.

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Introduce Yourself / Re: JustForex brocker
« Last post by JustForex on August 14, 2017, 05:52:02 AM »
Week`s Main Events

The US currency is under pressure after the publication of a weak inflation report in the US. On Friday, August 11, the dollar index (#DX) closed in the negative zone (-0.36%). In July, the consumer price index in the US was 0.1%. Experts expected the growth rate of 0.2%. It should be recalled that earlier the FOMC representative W. Dudley was concerned about the low level of inflation in the country. The official believes that the growth of the US economy can be modest.

In the upcoming trading week, we recommend you to pay attention to the following economic reports and events.

Monday, August 14
On Monday in the Asian trading session, statistics on retail sales in New Zealand will be published. At 02:50 (GMT+3:00) there will be preliminary data on Japan's GDP for the second quarter. China will publish reports on the fixed assets investments and the industrial production volume at 05:00 (GMT+3:00). This statistics can have an impact on the dynamics of the Australian dollar.

The news background on the economy of the Eurozone and the US will be calm.

Tuesday, August 15
On Tuesday, the Reserve Bank of Australia will publish the Minutes of the meeting on monetary policy at 04:30 (GMT+3:00).

We advise paying attention to the following economic reports:
- Preliminary data on GDP in Germany at 09:00 (GMT+3:00);
- An inflation report in the UK at 11:30 (GMT+3:00);
- Statistics on retail sales in the US at 15:30 (GMT+3:00).

Wednesday, August 16
On Wednesday, we expect a report on the labor market in the UK and data on the Eurozone GDP at 11:30 (GMT+3:00) and 12:00 (GMT+3:00), respectively.

At 15:30 (GMT+3:00) there will be a series of statistics on the real estate market in the United States.

In the American trading session, the attention of the financial market participants will be focused on the publication of the FOMC protocols at 21:00 (GMT+3:00).

Thursday, August 17
On Thursday, the news background will be quite eventful. In the Asian trading session, the statistics on the trade balance of Japan and the report on the labor market in Australia will appear at 02:50 (GMT+3:00) and 04:30 (GMT+3:00) respectively.

At 11:30 (GMT+3:00), the National Statistical Office of Great Britain will publish a report on retail sales. At 12:00 (GMT+3:00) the revised data on inflation in the Eurozone and the ECB monetary policy meeting minutes will appear.

At 15:30 (GMT+3:00) we expect the index of production activity from the Federal Reserve Bank of Philadelphia.

Friday, August 18
On Friday, investors' attention will be focused on the report on inflation in Canada at 15:30 (GMT+3:00).

Indices of consumers' expectations and sentiments from the University of Michigan will be published at 17:00 (GMT+3:00).

Best regards,
JustForex team
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