Swiss Jobless Rate Unchanged In March

Trading 09 avr 2019 Commentaire »

Switzerland's jobless rate was unchanged in March, data from the State Secretariat for Economic Affairs showed on Tuesday.

The seasonally adjusted unemployment rate was 2.4 percent, same as in February, in line with economists expectations.

The non-adjusted jobless rate eased to 2.5 percent from 2.7 percent.

Without adjustments, registered unemployment fell by 18,072 persons year-on-year in March.

Data showed that unemployment rate among youth aged between 15 to 24, fell by 9.4 percent monthly to 11.573 persons in March. Compared to a year ago, the figure decreased 14.6 percent.


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*U.S. Dollar Falls To 8-day Low Of 111.10 Against Yen

Trading 09 avr 2019 Commentaire »

U.S. Dollar Falls To 8-day Low Of 111.10 Against Yen


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*U.S. Dollar Drops To Near 2-week Low Of 1.1283 Versus Euro

Trading 09 avr 2019 Commentaire »

U.S. Dollar Drops To Near 2-week Low Of 1.1283 Versus Euro


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Finland Trade Balance Swings To Surplus

Trading 09 avr 2019 Commentaire »

Finland's trade balance led to a surplus in February as exports rose, while imports were broadly unchanged, data from the Finnish Customs showed on Tuesday.

Trade balance swung to a surplus of EUR 95 million in February from a deficit of EUR 95 million in the same month previous year. In January, trade deficit was EUR 40 million.

Exports rose 7 percent year-on-year, while imports were unchanged.

Shipments fell a seasonally adjusted 6.0 percent month-on-month in February, reversing a 10.0 percent rise in January.

Imports rose 1.0 percent monthly in February, after a 3.0 percent decline in the previous month.

Exports to EU countries fell 10.0 percent, while those to non EU areas fell 1.0 percent in February. Imports from the EU rose by 2.0 percent, while imports from non-EU countries fell 1.0 percent.


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Technical analysis of NZD/USD for April 09, 2019

Trading 09 avr 2019 Commentaire »

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Overview: The NZD/USD pair is showing signs of strength following a breakout of the highest level of 0.6765. On the H1 chart, the level of 0.6765 coincides with 23.6% of Fibonacci, which is expected to act as minor support today. Since the trend is above the 23.6% Fibonacci level, the market is still in an uptrend. But, major support is seen at the level of 0.6735. Furthermore, the trend is still showing strength above the moving average (100). Thus, the market is indicating a bullish opportunity above the above-mentioned support levels, for that the bullish outlook remains the same as long as the 100 EMA is headed to the upside. Therefore, strong support will be found at the level of 0.6735 providing a clear signal to buy with a target seen at 0.6842. If the trend breaks the minor resistance at 0.6842, the pair will move upwards continuing the bullish trend development to the level 0.6911 in order to test the double top.The material has been provided by InstaForex Company - www.instaforex.com

GBP/USD: plan for the American session on April 9. Volatility gradually increases amid uncertainty with Brexit

Trading 09 avr 2019 Commentaire »

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

Buyers of the pound will be interested in the support level of 1.3036 in the afternoon, but it is best to open long positions when a false breakdown is formed. In a different scenario, purchases will be relevant to the rebound from the monthly low around 1.2988. The challenge for the bulls is still the resistance of 1.3111. Only its breakthrough will resume the upward correction in GBP/USD with the target at 1.3160 and 1.3195.

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

Given the uncertainty with Brexit and the probability of an exit scenario without an agreement, the pressure on the pound will remain but it is best to open short positions after updating large resistance levels in the area of 1.3111 and 1.3160. The task of the bears in the afternoon will be a breakthrough and consolidation below the good support of 1.3036, which will lead to an immediate sale of the pound to the area of the minimum of 1.2988 and to update the area of 1.2950, where I recommend fixing the profits.

Indicator signals:

Moving Averages

Trading is conducted in the area of 30 and 50 moving averages, which indicates the lateral nature of the market with a bearish advantage.

Bollinger bands

Breakthrough of the lower border of the Bollinger Bands indicator in the area of 1.3036 will lead to a new wave of the pound decline.

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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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EUR/USD: plan for the American session on April 9. Euro buyers do not have enough strength for a new wave of growth

Trading 09 avr 2019 Commentaire »

To open long positions on EURUSD, you need:

Trading continues above the support at 1.1248, and demand for the euro remains but the main goal for the second half of the day will be a breakthrough and consolidation above the resistance of 1.1284, which will lead to an update of the maximum in the area of 1.1324 and 1.1358, where I recommend fixing the profits. In the scenario of EUR/USD decline in the second half of the day, it is best to look at long positions on a false breakdown around 1.1246 or buy immediately on a rebound from a minimum of 1.1212.

To open short positions on EURUSD, you need:

Bears will show themselves only after the formation of a false breakout in the resistance area of 1.1284, which will lead to a resumption of pressure on the euro and a decrease in the support area of 1.1245. However, the main task of sellers will be to break the level of 1.1245 and the minimum test in the area of 1.1212, where I recommend fixing the profit. In the EUR/USD growth scenario above 1.1284 in the afternoon, it is best to consider short positions on the rebound from the maximum of 1.1324.

Indicator signals:

Moving Averages

Trading is conducted above 30 and 50 moving averages, which indicates that the upward correction is maintained.

Bollinger bands

In case of a decrease, the lower border of the Bollinger Bands indicator in the area of 1.1255 will provide support.

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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

Brent sweeps away all obstacles

Trading 09 avr 2019 Commentaire »

The aggravation of the military conflict in Libya has become a catalyst for the rise in oil prices to 5-month highs. The volume of production in this country is about 1.1 million b/s, which is equivalent to about 1% of the global figure, so concerns about supply disruptions naturally played into the hands of the "bulls" on Brent and WTI. The rise in the geopolitical risk premium is an important driver of the rally of futures for black gold, although, of course, the main reason for the more than 30% increase in the cost of both varieties since the beginning of the year should be sought in the effective actions of OPEC.

In contrast to 2017, when very similar to the current agreement on the reduction of production did not lead to a rapid March of oil to the North. In 2019, Saudi Arabia and its allies easily cope with the task of stabilizing the market. Riyadh, which reduced production to a 4-year low of 9.82 million b/s and does not stop reducing exports, acts as the main Skirmisher. It is assisted by US sanctions against Iran and Venezuela, as well as the tense situation in the Middle East, including Libya.

Oil reaction to OPEC production cuts

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Of the two evils, one has to choose the smallest one, so when a dilemma arose between unwanted help from American manufacturers and the need to improve the budget of OPEC countries, the cartel chose the second option. US oil companies have created favorable conditions, but Saudi Arabia and other countries have received more or less acceptable oil prices for local economies. Russia, which is somewhere in the middle, believes that the process has gone too far and there is no point in helping the States further. According to the Minister of Energy of the Russian Federation Alexander Novak, if the market was able to balance, then you should not extend the agreement to reduce production for the second half of the year.

Goldman Sachs believes that the cost of Brent above $70 per barrel signals an increase in the deficit. The bank raised its forecast for the average price of the North Sea variety in the second quarter from $65 to $72.5, but believes that the situation will change dramatically in July-December. Oil will fall due to increased American production. Moreover, the first signs of oversaturation in the US black gold market are already visible: if the forecast of Bloomberg experts of the growth of US by 2.5 million barrels in the week to April 5 comes true, the figure will increase for the third five days in a row.

One of the important drivers of the Brent and WTI rally was the growth of hopes for ending the US-Chinese trade war, which should potentially increase global oil demand. Donald Trump, instead of the usual applications on Twitter, decided to indicate his desire to provoke a trade conflict with the EU. Washington's intention to impose duties on $11 billion European imports could be the first step in a new war.

Technically, as expected, the inability of the bears to keep Brent quotes below $68.5 a barrel was evidence of their weakness and allowed the bulls to continue the rally towards $72.8 as part of the correction to the Shark pattern's CD wave.

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Bitcoin analysis for April 09, 2019

Trading 09 avr 2019 Commentaire »

BTC has been trading continues to trade sideways at the price of $5.192 and with very slow momentum. BTC is in indecision zone and we would need further confirmation before the next direction.

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According to the H1 time-frame, we found that ADX reading is below 30 and, which is sign that short-term trend is weak and sideways price action is present. We found potential for ascending triangle in creation but the price would need to break the resistance at $5.326 and then successfully test it before we start to buy again. If the resistance at the price of $5.326 holds, sell off will be possible. The breakout of the support at $5.000 may confirm downward scenario and potential test of $4.636.

Trading recommendation: We are neutral but we are closely observing potential breakout of the support or resistance to confirm further direction.

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Technical analysis of EUR/USD for April 09, 2019

Trading 09 avr 2019 Commentaire »

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Overview:

The EUR/USD pair continues to move downwards from the level of 1.1280. Yesterday, the pair dropped from the level of 1.1280 to the bottom around 1.1225. Today, the first resistance level is seen at 1.1280 followed by 1.1310, while daily support 1 is seen at 1.1179. According to the previous events, the EUR/USD pair is still moving between the levels of 1.1280 and 1.1180; for that we expect a range of 102 pips. If the EUR/USD pair fails to break through the resistance level of 1.1280, the market will decline further to 1.1179. This would suggest a bearish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 1.1137 with a view to test the second support. On the other hand, if a breakout takes place at the resistance level of 1.1280 (the double top), then this scenario may become invalidated.

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