Tag Archives: EA

Gold price remains in bullish trend but vulnerable to a pullback.

In our previous analysis when Gold price was trading around $1,650 I said that we expect a pull back in Gold price. So far the pull back has been very shallow and so far important support trend lines remain intact.Green line – supportRed line – resistanceGold price continues to make higher highs and higher lows. Price is touching once again the green upward sloping support trend line. As long as this trend line remains intact we remain optimistic and consider each pull back as a buying opportunity. But bulls need to be very cautious as the oscillators have reached overbought levels. We could soon see new short-term higher highs in Gold price and the oscillators to produce a lower high. This is the most probable scenario now. To see some bearish divergence signs. Overall I believe Gold price is very vulnerable to a pull back towards $1,600-$1,570 again. I believe the most probable scenario as long as we hold above $1,638 is to see $1,670-80 before turning lower. If $1,638 fails to hold then I would expect price to move lower right away.The material has been provided by InstaForex Company – www.instaforex.com…

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…

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…

Trader’s diary. April 04, 2020. EUR/USD. Euro expected to raise

Coronavirus update: The COVID-19 outbreak in Europe is slowing. In Italy and Spain, the number of new cases has declined sharply. The death toll has fallen to 600-700 cases per day.The infection rate in the US is still increasing by 8% per day. The total number of coronavirus cases in the US is around 400,000. There are at least 1,000 deaths per day across the country with around 700 deaths in New York.Despite economic problems in Europe, there have also been contradictions between EU countries on how to support the economy. The meeting is rescheduled for Thursday.EUR/USDThe euro holds steady.It is preferable to open sell deals at 1.0765.Buy deals are at 1.1040The material has been provided by InstaForex Company – www.instaforex.com…

Pound – there’s absorption in the trend

Good day, dear traders! I present to your attention, a trading idea for the GBP/USD pair.
This idea is the continuation of yesterday’s plan to increase the price of the pair: https://www.instaforex.com/ru/forex_analysis/24842…
Yesterday, the pair closed with an “absorption”, confirming the bullish trend towards the target area of 1.25:
From the current prices, the risk / profit ratio is 1/1.
If you want to get more profit, I recommend choosing signals that would increase the pair in the smaller TF during the day. Keep your positions at the breakdown of the highs last week, and take profit in the round level of 1.25.
Good luck in trading and control your risks!
The material has been provided by InstaForex Company – www.instaforex.com…

S&P Lowers Australia's Rating Outlook To Negative

S&P Global Ratings revised the outlook on Australia’s rating outlook to negative from stable as coronavirus, or COVID-19, outbreak weakened its fiscal outlook. The rating agency said the negative outlook reflects a substantial deterioration of Australia’s fiscal headroom at the ‘AAA’ rating level. The outbreak of coronavirus has posed a severe economic and fiscal shock. The Australian economy is set to plunge into recession for the first time in almost 30 years, causing a substantial deterioration of the government’s fiscal headroom at the ‘AAA’ rating level. Nonetheless, the ratings were affirmed at ‘AAA’. S&P observed that the triple A rating on Australia benefit from the country’s strong institutional settings, its wealthy economy, and monetary policy flexibility. The material has been provided by InstaForex Company – www.instaforex.com…

GBP/USD. April 8. COT report: both hedgers and speculators are getting rid of the pound. Long contracts are closed in large

GBP/USD – 1H.

Hello, traders! According to the hourly chart, the GBP/USD pair performed a reversal in favor of the British dollar and anchored above the weak downward trend line. Thus, the weak “bearish” mood was replaced by an equally weak “bullish” one, because, as we can see, the pair’s quotes do not tend to grow very much. Moreover, at the beginning of the European session, there is even a slight drop. Based on this, I recommend that you refer to the older charts at this time to get the necessary information. The hourly chart is currently uninformative. From the main news of the past day, I highlight reports that British Prime Minister Boris Johnson, according to members of the government, is not connected to a ventilator, although he is in the intensive care unit, and he has not been diagnosed with pneumonia. Thus, Johnson’s life is now in no danger.
GBP/USD – 4H.

On the 4-hour chart, the GBP/USD pair performed a reversal in favor of the English currency after the formation of a bullish divergence in the CCI indicator and anchored above the corrective level of 50.0% (1.2303). Thus, the growth process can be continued on April 8 in the direction of…

Japan Core Machine Order Data Due On Wednesday

Japan will on Wednesday release February figures for core machine orders and current account, setting the pace for a modest day in Asia-Pacific economic activity. Core machine orders are tipped to slide 2.9 percent on month and 3.0 percent on year after rising 2.9 percent on month and easing 0.3 percent on year in January. The current account is expected to reflect a surplus of 3,067.2 billion yen following the 612.3 billion yen surplus in January. The trade balance is tipped to show a surplus of 1,213.6 billion yen surplus following the 985.1 billion yen deficit a month earlier. Japan also will see March results for the eco watchers survey. The index for current conditions is expected to come in at 22.0, down from 27.4 in February. The outlook is pegged at 19.0, down from 24.6. Australia will provide February numbers for home loans, with forecasts suggesting an increase by 2.0 percent after rising 4.6 percent in January. The material has been provided by InstaForex Company – www.instaforex.com…

Forecast for EUR/USD on April 8, 2020

EUR/USD
The euro correctively grew by 98 points on Tuesday, stopping at the resistance of the balance indicator line on the daily chart. The signal line of the Marlin oscillator showed a small reversal while still in the declining trend zone.
Of course, this is only an early and incomplete signal for a price reversal, the upper target of 1.0957 on the resistance of the embedded line of the price channel can be worked out. In the event of a reversal, the signal and condition of which will be overcoming the price of Monday’s low (1.0768), the target opens along the lower line of the price channel at around 1.0620.
On the H4 chart, the price worked out the previously determined target range of 1.0900/27 and left it back down. But the Marlin oscillator remains in the growth zone and its signal line does not show an intention to leave this zone. The price also develops above the MACD line. To change the trend to a downward price, it must overcome the support of the MACD line, and this can happen just above the signal level of 1.0768, but in general, opening a short position with overcoming just…