Evening review for April 8th for EUR/USD. Euro needs US labor market statistics

Outlook for EUR/USD. A lot of macroeconomic data was unveiled during recent days.
1. In Europe, the epidemic has passed its peak. The epidemiological situation has improved in Italy and Spain.
2. Eurozone finance ministers failed to agree on the region-wide stimulus. The meeting is suspended until Thursday.
3. In the US, the situation is likely to stabilize by the end of the week.
Nevertheless, the market mood is still difficult to predict.
I suppose that the US employment data will be of crucial importance. The data is expected to be published on April 9th.
EUR/USD:
Buy positions can be opened from the level of 1.1040.
Sell positions can initiated from 1.0765.The material has been provided by InstaForex Company – www.instaforex.com…

Taiwan Trade Surplus Decreases In March

Taiwan’s trade surplus decreased in March, as exports declined and imports rose, figures from the Ministry of Finance showed on Wednesday. The trade surplus decreased to US$ 2.78 billion in March from 3.09 billion last year. Economists had expected a surplus of US$ 3.2 billion. In January, trade surplus was US$ 3.3 billion. Exports decreased 0.6 percent year-on-year in March, after a 24.9 percent rise in February. Economists had expected a decline of 6.7 percent. Imports rose 0.5 percent annually in March, after a 44.7 percent increase in the preceding month. Economists had forecast a fall of 6.6 percent. Exports of parts of electronic product, information, communication and audio-video products grew in March, while exports of base metals and articles of base metal, machinery, plastics and rubber, and articles declined. Imports of parts of electronic product, base metals and articles of base metal increased from a year ago, while imports of mineral products, machinery, chemicals decreased Exports to Mainland China and Hong Kong, and ASEAN both grew in March, while exports to Japan, U.S.A. and Europe declined. In the January to March period, exports and imports rose by 3.7 percent and 3.5 percent, respectively, from a year ago. The material…

April 8, 2020 : GBP/USD Intraday technical analysis and trade recommendations.

Recently, the GBPUSD has reached new LOW price levels around 1.1450, slightly below the historical low (1.1650) achieved in September 2016.That’s when the GBP/USD pair looked very OVERSOLD around the price levels of 1.1450 where a double-bottom reversal pattern was recently demonstrated.Technical outlook will probably remain bullish if bullish persistence is maintained above 1.1890-1.1900 (Double-Bottom Neckline) on the H4 Charts.Bullish breakout above 1.1900 (Latest Descending High) invalidated the bearish scenario temporarily & enabled a quick bullish movement to occur towards 1.2260.Next bullish targets around 1.2520 and 1.2680 were expected to be addressed if sufficient bullish momentum was maintained.However, early bearish pressure signs have originated around 1.2470 leading to another bearish decline towards 1.2265.That’s why, H4 Candlestick re-closure below 1.2265 is needed to hinder further bullish advancement and enhance the bearish momentum on the short term.If so, Initial Bearish target would be located around 1.1900 provided that quick H4 bearish closure below 1.2265 is achieved.On the other hand, bullish persistence above 1.2265 would probably enhance another bullish pullback movement up to the price level of 1.2470.Trade recommendations :Conservative traders should be waiting either for another bullish pullback towards 1.2470 or another H4 bearish closure below 1.2265 as a valid SELL signal. T/P…

April 8, 2020 : EUR/USD Intraday technical analysis and trade recommendations.

Since December 30, the EURUSD pair has trended-down within the depicted bearish channel until the depicted two successive Bottoms were established around 1.0790 then 1.0650 where the EUR/USD pair looked OVERSOLD after such extensive bearish decline.Few weeks ago, the EURUSD pair has expressed significant bullish recovery around the newly-established bottom around 1.0650.The following bullish engulfing H4 candlesticks as well as the recently-demonstrated ascending bottoms indicated a high probability bullish pullback at least towards 1.0980 and 1.1075 (Fibonacci Level 50%).Key Supply-Levels in confluence with significant Fibonacci levels are located around 1.1075 (50% Fibonacci) and 1.1175 (61.8% Fibonacci) where bearish rejection was highly-expected.Moreover, a Head & Shoulders continuation pattern was demonstrated around the price levels of (1.1000 – 1.1075).Shortly after, further bearish decline was demonstrated towards 1.0800 where the nearest demand level to be considered was located near the backside of the broken channel (1.0800-1.0750).Early signs of Bullish rejection have been manifested around the price zone of (1.0800-1.0750) leading to the current bullish spike up to 1.0920.This supports the bullish side of the market as long as bullish persistence is maintained above the recently-established ascending Bottom around 1.0770.On the other hand, any bearish breakout below 1.0770 invalidates the previously-mentioned outlookTrade recommendations :Intraday traders…

Financial markets and indices #SPX, #DAX amid the coronavirus pandemic COVID-19

Dear colleagues.There is no pause in the outpour of shocking scenarios, and Donald Trump has once again managed to surprise the public. According to the calculations of White House analysts, on a light scenario, there is an estimated 150,000 deaths in the US due to the COVID-19 pandemic, while the worst-case scenario draws over 2 million number of infected cases. Despite this, the US citizens seemed to look rather pleased with this announcement.Against this backdrop, the US intelligence sees this better than blaming China for underestimating the number of victims. The underestimation on China’s part is only natural, as they were able to control the spread of the virus immediately although it might have seemed so impossible to do so. The current state of the virus outbreak in the US is none other than due to the collapse of the vaunted American health care system, which is costing the budget a tidy sum of $ 1.3 trillion. This scenario gravely affects the US economy and not in a good way.Massive injections of central banks and the Federal Reserve System led to some stabilization in financial markets, the liquidity of which improved significantly. Thus, for example, from February 25 to March 31,…

Hungary Inflation Lowest In 3 Months

Hungary’s consumer price inflation eased to three-month low in March, data from the Hungarian Central Statistical Office reported on Wednesday. The consumer price index rose 3.9 percent year-on-year in March, slower than 4.4 percent increase in February. Economists had expected a 3.6 percent rise. Price for food grew 7.6 percent and those of alcoholic beverages and tobacco, and services rose by 7.2 percent and 3.8 percent, respectively. On a month-on-month basis, consumer prices rose 0.2 percent in March, after a 0.3 percent increase in the preceding month. Food prices rose at a higher rate in March, which may have been caused by the effects of the coronavirus outbreak, while motor fuel prices declined as a result of significantly falling oil prices, the agency said. Core consumer prices rose 4.3 percent annually in March and increased 0.6 percent from the previous month. Separate data from the statistical office showed that the trade surplus increased EUR 1.118 billion in February versus EUR 775 million in last year. Exports rose 3.9 percent year-on-year in February, following a 2.8 percent increase in January. Imports increased 0.1 percent annually in February, after a 2.4 percent rise in the preceding month. The material has…

Trading plan for Gold for April 08, 2020

Technical outlook:Gold is facing strong resistance at $1,703 levels and the yellow metal is expected to stay lower. The overall structure is looking bearish until prices stay below $1,703 levels; while a break higher would test $1,750. At this point in writing Gold is seen to be trading around $1,647 levels and is expected to drop lower towards immediate support at $1,568. The recent boundary that is being worked upon is between $1,703 and $1,451 respectively. Please note that Gold has retraced up to fibonacci 88% of the earlier drop, carving a lower top around $1,675 levels. If the counter trend rally has completed, prices should reverse sharply lower towards $1,450 support and beyond. Once the counter trend line support is broken, it would confirm that a meaningful top is in place at $1,675, and that Gold could accelerate lower again. Trading point of view, Gold remains good to sell on rallies until prices stay below $1,703.Trading plan:Remain short @ 1,640/50, stop @ 1,703 target @ 1,450 and lower.Good luck!The material has been provided by InstaForex Company – www.instaforex.com…

BTC analysis for 04.08.2020 – Potential drop on BTC is coming, the main objective is set at the price of $5.813

Corona virus news:On April 5, Italy’s “blood donation day,” the Italian Red Cross constructed an advanced medical post using funds generated through a crypto fundraiser.The Italian Red Cross has raised nearly $32,000 through cryptocurrency donations in less than one month. Roughly $22,000 has been used to finance the construction of the initiative’s first advanced medical post in the town of Castel Gandolfo near Rome. The funds were spent by the initiative to purchase a pneumatic tent that will house the medical post, in addition to other materials. The tent was erected during Italy’s “blood donation day” and used as a screening station for pre-donation medical examinations.Technical analysis: BTC has been trading downwards as I expected. The price broke the Pitchfork mini upward channel and it gave us the first signal for the potential chage in the trend from bullish to bearish.Watch for selling opportunities. The area around $7.500-$7.600 looks like good zone for sell posiitons.Downward targets are set at the price of $6.595 and $5.813.MACD oscillator is showing decreasing on the upside momentum and the slow line turned to the downside, which is indication for potential change in the trend.Major resistance pivot zone is set at $7.600-$8.000Support levels are set at…

USD/JPY analysis for 04.08.2020 – End of the downward correction (bull flag pattern) and bigger up-swing in play. Watch for

Corona virus news:Boris Johnson has spent a second night in intensive care amid concerns about the seriousness of his condition and how the government will make key decisions about the coronavirus pandemic in his absence.The foreign secretary, Dominic Raab, who is deputising for the prime minister, has no power to make major decisions without cabinet agreement, it emerged on Tuesday.Technical analysis: USD/JPY has been trading sideways at the price of 108.88. Anyway, there is the potential completion of the downward correction (bull flag pattern) in the backgorund and rejection of the important pivot support at 108.50, which is strong indication for the further upside continuation. My analysis from yesterday is still valid.Watch for buying opportunities on the dips. The area around 109.10 looks like good zone to load long positions.Upward targets are set at the price of 109.85 and 110.60. MACD oscillator is showing strong upside pressure and the slow line is turned to the upside, which is great addition to our long bias. Resistance levels are set at the price of 109.37, 109.85 and 110.60 Support level is set at the price of 108.50.The material has been provided by InstaForex Company – www.instaforex.com…

Denmark Exports Fall In February

Denmark’s exports and imports declined in February, figures from Statistics Denmark showed on Wednesday. Exports excluding ships, aircraft, fuel fell a seasonally adjusted 2.3 percent year-on-year in February, after a 4.8 percent rise in January. Imports decreased 2.0 percent annually in February, after a 3.7 percent increase in the preceding month. The seasonally adjusted trade surplus excluding ships, aircraft, fuel was DKK 10.5 billion in February. Despite increases in January, both imports and exports have fallen over the past three months, the agency said. The material has been provided by InstaForex Company – www.instaforex.com…