EUR / USD plan for the US session on February 8. Euro buyers were delighted with good statistics in the Eurozone

Trading 08 fév 2019 Commentaire »

To open long positions on EUR / USD pair, you need:

Euro buyers returned to the market after good reports in Germany, where the balance of foreign trade increased and the industrial output increased in Italy. At the moment, the main task is to fix above the resistance level of 1.1343, which will lead to a larger upward correction in the area of 1.1366 and 1.1394, where I recommend to fix the profit. In the case of a re-decline of the euro to the support of 1.1322, long positions are best considered on a false breakdown and you can buy the EUR/USD pair for a rebound from a minimum of 1.1292.

To open short positions on EUR / USD pair, you need:

In the morning, sellers did not have enough in the market to resume the downward trend. Short positions in the second half of the day can be seen at the rebound from the resistance of 1.1366 or from a new high in the area of 1.1394, where euro buyers will take profits. The main task of the bears by the end of the week is to sustain trading below the resistance level of 1.1343, which will make it possible to count on a further decline in the EUR/USD pair.

More in the video forecast for February 8

Indicator signals:

Moving averages

Trade is conducted in the area of 30- and 50-medium moving, which indicates the formation of the lateral nature of the market.

Bollinger bands

The volatility of the Bollinger Bands indicator falls, which does not give signals on market entry, and a breakthrough of the upper border in the area of 1.1355 may lead to a larger growth of the European currency.

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Description of indicators

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20

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GBP / USD: plan for the American session on February 8. The pound continues to be in demand for positive news about Brexit

Trading 08 fév 2019 Commentaire »

To open long positions on GBP / USD, you need:

Pound buyers coped well with the support level of 1.2922, which I paid attention to in my morning forecast, which is expected, led to the continuation of the formation of an upward correction. The main goal for the second half of the day will be the test of the resistance level of 1.2993, a breakthrough of which will lead to a new maximum in the area of 1.3048, where I recommend fixing the profits. In the case of a decline in GBP / USD, you can still count on purchases from support at 1.2922.

To open short positions on GBP / USD, you need:

Only bad news on Brexit can put pressure on the pound. Sellers are required to return to the support level of 1.2922, which will lead to a larger sale of GBP / USD with a test of 1.2860, where I recommend fixing the profits. In the case of a further upward correction, you can take a closer look at short positions in the false breakdown around 1.2993 or sell a pound to rebound from a high of 1.3048.

Indicator signals:

Moving Averages

Trade is conducted in the area of 30-day and 50-day moving, indicating a continuation of the upward correction on the pound.

Bollinger bands

Bollinger Bands indicator volatility is very low. A break of the upper border around 1.2975 will lead to a larger increase in the pound.

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Description of indicators

  • MA (moving average) 50 days - yellow
  • MA (moving average) 30 days - green
  • MACD: fast EMA 12, slow EMA 26, SMA 9
  • Bollinger Bands 20
The material has been provided by InstaForex Company - www.instaforex.com

February 8, 2019: The EUR/USD pair is currently approaching the daily uptrend line around 1.3000.

Trading 08 fév 2019 Commentaire »

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Since June 2018, the EUR/USD pair has been moving sideways with slight bearish tendency within the depicted bearish Channel (In RED).

On November 13, the EUR/USD pair demonstrated recent bullish recovery around 1.1220-1.1250 where the current bullish movement above the depicted short-term bullish channel (In BLUE) was initiated.

Bullish fixation above 1.1420 was needed to enhance a further bullish movement towards 1.1520. However, the market has been demonstrating obvious bearish rejection around 1.1420 few times so far.

A further bullish advance was expected towards the price level of 1.1550 where the upper limit of both depicted channels (RED & BLUE) was located.

However, the EUR/USD pair has lost its bullish momentum since January 31 when a bearish engulfing candlestick was demonstrated around 1.1514 where another descending high was established then.

Hence, the current bearish closure below 1.1420 terminates the current bullish movement (initiated on January 25) allowing another bearish visit towards 1.1350 and 1.1300.

Trade Recommendations:

Conservative traders should wait for the current bearish pullback to pursue towards the price zone of 1.1285-1.1300 (lower limit of the depicted movement channel) for a valid BUY entry.

T/P level to be located around 1.1350 and 1.1420. S/L to be located below 1.1250.

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

*Canadian Dollar Rises To 1.5017 Vs Euro, 82.99 Vs Yen

Trading 08 fév 2019 Commentaire »

Canadian Dollar Rises To 1.5017 Vs Euro, 82.99 Vs Yen


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*Canadian Dollar Edges Up To 0.9395 Against Aussie

Trading 08 fév 2019 Commentaire »

Canadian Dollar Edges Up To 0.9395 Against Aussie


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*Canadian Dollar Climbs To 1.3235 Versus U.S. Dollar After Canada Jobs Data

Trading 08 fév 2019 Commentaire »

Canadian Dollar Climbs To 1.3235 Versus U.S. Dollar After Canada Jobs Data


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Loonie Climbs After Canada Jobs Data

Trading 08 fév 2019 Commentaire »

Following the release of Canada jobs data for January at 8:30 am ET Friday, the loonie advanced against its major rivals.

The loonie was trading at 82.85 against the yen, 0.9408 against the aussie, 1.3249 against the greenback and 1.5041 against the euro around 8:31 am ET.


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German Exports, Imports Rebound In December

Trading 08 fév 2019 Commentaire »

Germany's exports rebounded at a faster-than-expected pace in December, exceeding expectations, and imports followed suit, extending some positive data for the biggest euro area economy after the recent run of weak figures that suggested a slowdown.

Exports rose a calendar and seasonally-adjusted 1.5 percent from November, when they declined 0.3 percent, figures from the Federal Statistical Office showed on Friday. Economists had expected 0.5 percent growth.

The pace of growth was the fastest since May's 1.6 percent gain.

Imports climbed 1.2 percent month-on-month, recovering from a 1.3 percent slump in November. Economists had forecast 0.4 percent growth.

"Today's trade data is a welcome sign of life, confirming our view that the assessment of the German economy currently needs less black-and-white thinking and is more nuanced," ING economist Carsten Brzeski said.

"While the temporary problems in the automotive sector will gradually be resolved...and should boost exports, the risks and uncertainties from outside the eurozone are clearly the make-it-or-break-it factor for the export sector," the economist added.

On a year-on-year basis, exports decreased 4.5 percent and imports were unchanged in December.

The non-adjusted trade surplus fell sharply to EUR 13.9 billion from EUR 20.4 billion in November. Economists were looking for a surplus of EUR 17.3 billion.

The statistical office also reported that the current account surplus fell to EUR 21 billion in December from EUR 21.6 billion in November.

For full year 2018, exports rose 3 percent and imports grew 5.7 percent, and their values exceeded their record highs. The trade surplus fell to EUR 227.8 billion from EUR 247.9 billion in 2017.

EU countries attracted 3.8 percent more German exports than a year ago, and imports from the group rose 6.3 percent. Exports to the euro area increased 4.5 percent and imports from the bloc climbed 6.9 percent.

Shipments to the non-EU countries rose 1.9 percent and imports from these countries grew 5 percent.

In 2018, the current account surplus dropped to EUR 249.1 billion from EUR 261.2 billion a year ago.

Germany likely avoided a technical recession in the fourth quarter, the economy ministry has said. Average annual growth slowed to a five-year low of 1.5 percent in 2018.

On Thursday, the European Commission slashed the German growth forecast for this year to 1.1 percent from 1.8 percent and the projection for next year was left unchanged at 1.7 percent.


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*Canadian Unemployment Rate Rises To 5.8% In January

Trading 08 fév 2019 Commentaire »

Canadian Unemployment Rate Rises To 5.8% In January


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*Canadian Employment Increase By 67,000 Jobs In January

Trading 08 fév 2019 Commentaire »

Canadian Employment Increase By 67,000 Jobs In January


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