*U.S. Dollar Extends Gain To 1-1/2-month High Of 110.84 Vs Yen After U.S. CPI

Trading 13 fév 2019 Commentaire »

U.S. Dollar Extends Gain To 1-1/2-month High Of 110.84 Vs Yen After U.S. CPI


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Dollar Mixed Ahead Of U.S. CPI

Trading 13 fév 2019 Commentaire »

The U.S. Labor Department will release consumer price index for January at 8:30 am ET Wednesday. Economists expect the inflation to tick up 0.1 percent on month, reversing a 0.1 percent drop in the previous month.

Ahead of the data, the greenback traded mixed against its major counterparts. While the greenback held steady against the pound and the franc, it recovered against the yen and the euro.

The greenback was worth 110.72 against the yen, 1.0054 against the franc, 1.2921 against the pound and 1.1308 against the euro as of 8:25 am ET.


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February 13, 2019 : GBP/USD is demonstrating bullish weakness around the backside of the broken trend.

Trading 13 fév 2019 Commentaire »

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On December 12, the previously-dominating bearish momentum came to an end when the GBP/USD pair visited the price levels of 1.2500 where the backside of the broken daily uptrend was located.

Since then, the current bullish swing has been taking place until January 28 when the GBP/USD pair was almost approaching the supply level of 1.3240.

That's when the current bearish pullback was initiated around slightly lower price levels near 1.3215 (around the depicted supply levels in RED).

This was followed by a bearish engulfing daily candlestick on January 29. Thus, the GBP/USD pair lost its bullish persistence above 1.3155 as a result.

As expected, the recent bearish decline below 1.3150 brought the GBP/USD pair into a deeper bearish correction towards 1.2920-1.2950 where (38.2% Fibonacci level) as well as the backside of the depicted broken trend are located (in RED).

However, lack of bullish demand was recently being demonstrated on recent daily candlesticks. Hence, the short-term scenario turned bearish towards 1.2800 where bullish recovery was expected to be demonstrated.

For the bullish side to regain dominance, bullish breakout above 1.2920 (38.2% Fibonacci) should be re-established early.

Trade Recommendations:

Buyers around 1.2825-1.2800 should advance their Stop loss at entry level. T/P levels to be located at 1.2890 and 1.3040.

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

February 13, 2019 : GBP/USD is demonstrating bullish weakness around the backside of the broken trend.

Trading 13 fév 2019 Commentaire »

analytics5c64151008a8d.png

On December 12, the previously-dominating bearish momentum came to an end when the GBP/USD pair visited the price levels of 1.2500 where the backside of the broken daily uptrend was located.

Since then, the current bullish swing has been taking place until January 28 when the GBP/USD pair was almost approaching the supply level of 1.3240.

That's when the current bearish pullback was initiated around slightly lower price levels near 1.3215 (around the depicted supply levels in RED).

This was followed by a bearish engulfing daily candlestick on January 29. Thus, the GBP/USD pair lost its bullish persistence above 1.3155 as a result.

As expected, the recent bearish decline below 1.3150 brought the GBP/USD pair into a deeper bearish correction towards 1.2920-1.2950 where (38.2% Fibonacci level) as well as the backside of the depicted broken trend are located (in RED).

However, lack of bullish demand was recently being demonstrated on recent daily candlesticks. Hence, the short-term scenario turned bearish towards 1.2800 where bullish recovery was expected to be demonstrated.

For the bullish side to regain dominance, bullish breakout above 1.2920 (38.2% Fibonacci) should be re-established early.

Trade Recommendations:

Buyers around 1.2825-1.2800 should advance their Stop loss at entry level. T/P levels to be located at 1.2890 and 1.3040.

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

In the medium term, the position of the dollar may falter – Citi

Trading 13 fév 2019 Commentaire »

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Citigroup financial conglomerate experts believe that over the next three months, the dollar will be relatively stable, and then decline by 3-4%.

"Fundamental factors that support the demand for the American currency are weakening. The positive impact that financial incentives have on the US economy is likely to fade away. In addition, it is possible that long-term rates have already reached their peak," analysts said.

They believe that the yield curve of US state bonds will become more and more flat, which is why the greenback will be under pressure.

"It is assumed that in the medium term, the reduction of the yield differentials and the difference in the rates of the Fed and other central banks will start to play against the dollar. According to our estimates, over the next three months, the dollar exchange rate in relation to G10 competitors will remain almost unchanged, and in the next 6-12 months, it will fall by 3-4%," representatives of Citi said.

At the same time, they admit that in case of a sharp decline in risk appetite, the US currency is likely to regain the status of a defensive asset, which will support its course.

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

Intraday technical levels and trading recommendations for EUR/USD for February 13, 2019

Trading 13 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 1.1430 was needed to enhance further bullish movement towards 1.1520. However, the market has been demonstrating obvious bearish rejection around 1.1430 few times so far.

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.

On February 5, a bearish daily candlestick closure below 1.1420 terminated the recent bullish recovery.

This allowed the current bearish movement to occur towards 1.1300-1.1270 where the lower limit of the depicted DAILY channel comes to meet the pair.

On the other hand, a bearish flag pattern may be confirmed if bearish persistence below 1.1250 is achieved on the daily-chart. Pattern target is projected down towards 1.1000.

Trade Recommendations:

Intraday traders can look for a counter-trend BUY entry around the current price levels (1.1285) (lower limit of the depicted movement channel).

S/L to be located below 1.1240 while T/P level to be located around 1.1350 and 1.1420.

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

Intraday technical levels and trading recommendations for EUR/USD for February 13, 2019

Trading 13 fév 2019 Commentaire »

analytics5c640f4c2d9ca.png

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 1.1430 was needed to enhance further bullish movement towards 1.1520. However, the market has been demonstrating obvious bearish rejection around 1.1430 few times so far.

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.

On February 5, a bearish daily candlestick closure below 1.1420 terminated the recent bullish recovery.

This allowed the current bearish movement to occur towards 1.1300-1.1270 where the lower limit of the depicted DAILY channel comes to meet the pair.

On the other hand, a bearish flag pattern may be confirmed if bearish persistence below 1.1250 is achieved on the daily-chart. Pattern target is projected down towards 1.1000.

Trade Recommendations:

Intraday traders can look for a counter-trend BUY entry around the current price levels (1.1285) (lower limit of the depicted movement channel).

S/L to be located below 1.1240 while T/P level to be located around 1.1350 and 1.1420.

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

Brazil Retail Sales Growth Slows In December

Trading 13 fév 2019 Commentaire »

Brazil's retail sales slowed in December, after rising in November, figures from IBGE showed on Wednesday.

The retail sales recorded 0.6 percent year-on-year in December after a 4.5 percent rise in November. In October, sales rose 1.9 percent.

Sales of books, newspapers, magazines and stationery declined the most, down 24.6 percent. That was followed by furniture and household devices with a 5.3 percent fall.

On a month-on-month basis, retail sales declined 2.2 percent in December after a 3.1 percent rise in the previous month.

For the whole year of 2018, the retail sales rose 2.3 percent followed by a 2.1 percent rise in 2017. The latest growth was the biggest since 2013.


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

Lithuania Producer Price Inflation Slows For Second Month

Trading 13 fév 2019 Commentaire »

Lithuania producer price inflation slowed for a second month in January, data from the Lithuanian Statistical Department showed on Wednesday.

The producer prices rose 0.2 percent year-on-year in January after a 1 percent increase in December. In November, prices rose 3.9 percent.

Excluding refined petroleum products, producer prices rose 2.5 percent year-on-year following a 2.8 percent increase in the previous month.

On a month-on-month basis, the producer prices edged up 0.2 percent in January after a 2.5 percent fall in the previous month. In November, the prices dropped sharply by 3.0 percent.


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Bitcoin analysis for February 13, 2019

Trading 13 fév 2019 Commentaire »

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Bitcoin has been trading downwards. The price tested the level of $3.590. We found the failed test of the resistance at $3.760, which is a sign that buyers don't have power at this stage. We also found the broken intraday support trendline at $3.640, which is a sign that sellers are in control. If BTC breaks the support at $3.592, we may see a test of $3.542.

Trading recommendation: We sold intraday BTC at $3.630 with protective stop at $3.760.

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