Elliott wave analysis of EUR/JPY for April 11, 2019

Trading 11 avr 2019 Commentaire »

analytics5caf54a7a05e5.png

EUR/JPY has failed to follow-through towards the downside and the break above minor resistance at 125.45 indicates that wave ii completed with the test of 123.64 and wave iii higher towards 132.49 now is developing.

Support is now seen at 125.45 and again just below at 125.22.

R3: 127.50

R2: 127.00

R1: 126.17

Pivot: 126.45

S1: 125.22

S2: 124.76

S3: 124.50

Trading recommendation:

Our stop at 125.50 was hit. We will buy EUR at 125.30 or upon a break above 125.65

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

EUR./USD analysis for April 11, 2019

Trading 11 avr 2019 Commentaire »

EUR/USD has been trading sideways at the price of 1.1270. The price is still trading inside of the trading range.analytics5caf52535775e.jpg

According to the H4 time-frame, we found that potential bearish flag pattern is in creation and that buying looks risky. We found few tests of the resistance at the price of 1.1286 and as long as this resistance is holding, we see potential downside break. Support level is seen at the price of 1.1228 and key short-term support at 1.1186.

Our advice is to watch for potential breakout of the bearish flag pattern to look for selling opportunities with target at 1.1186.

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

Dollar Up As Weekly Jobless Claims Hit 50-Year Low; Fed Speeches Due

Trading 11 avr 2019 Commentaire »

The U.S. dollar was higher against its major counterparts in the European session on Thursday, as U.S. weekly jobless claims fell to a 50-year low last week, while producer prices rose more than forecast in March, reducing some of the fears over economic slowdown. Market participants await speeches by various Fed officials due shortly for policy cues.

Data from the Labor Department showed that U.S. producer prices grew more than expected in March, led by higher energy prices.

The Labor Department said its producer price index for final demand climbed by 0.6 percent in March after inching up by 0.1 percent in February. Economists had expected prices to rise by 0.3 percent.

Core producer prices, which exclude food and energy prices, also rose by 0.3 percent in March following a 0.1 percent uptick in February. Core prices had been expected to edge up by 0.2 percent.

Separate data showed that first-time claims for U.S. unemployment benefits once again slid to their lowest level in nearly 50 years in the week ended April 6.

The report said initial jobless claims fell to 196,000, a decrease of 8,000 from the previous week's revised level of 204,000.

The continued drop surprised economists, who had expected jobless claims to rise to 211,000 from the 202,000 originally reported for the previous week.

Speeches by Fed governors Clarida, Williams, Bullard, Kashkari and Bowman are scheduled shortly.

Investors also welcomed indications of progress in trade talks between U.S. and China.

U.S. Treasury Secretary Steven Mnuchin said that a call with Chinese Vice-Premier Liu He on Tuesday night was productive and the two sides have settled on a mechanism to police any agreement, including new enforcement offices.

The currency was lower against its most major counterparts in the Asian session, as Fed minutes showed continued concerns about slowing economic growth abroad and a likelihood of shift in interest rates in either direction.

The greenback climbed to a 2-day high of 111.36 against the yen, from a low of 110.90 hit at 5:45 pm ET. If the greenback rises further, 113.00 is possibly seen as its next resistance level.

The greenback strengthened to 1.0046 against the franc, its biggest since March 15. At yesterday's close, the pair was worth 1.0025. The greenback is poised to find resistance around the 1.02 level.

Bouncing back from a low of 1.1288 hit at 3:00 am ET, the greenback edged up to 1.1255 against the euro. The next possible resistance for the greenback is seen around the 1.10 level.

Preliminary data from Eurostat showed that Eurozone house price inflation slowed in the fourth quarter of 2018 after remaining unchanged in the previous three months.

House prices rose 4.2 percent year-on-year following a 4.3 percent increase in each of the previous two quarters. In the first quarter, prices grew 4.5 percent.

The greenback firmed to a 3-day high of 0.6726 against the kiwi and a 6-day high of 1.3396 against the loonie, from its early lows of 0.6771 and 1.3309, respectively. The greenback is seen finding resistance around 0.66 against the kiwi and 1.36 against the loonie.

The greenback strengthened to 0.7137 against the aussie, after falling to 0.7171 at 6:00 pm ET. The greenback is likely to find resistance around the 0.69 level.

The greenback held steady against the pound, after having risen to 1.3057 at 4:15 am ET. The pair had ended yesterday's trading at 1.3082.


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

Bitcoin analysis for April 11, 2019

Trading 11 avr 2019 Commentaire »

BTC has been trading downwards. The price tested the level of $4.955. We are expecting more downside.

analytics5caf50cae5e4a.jpg

According to the H4 time-frame, we found that our support trendline got finally broken, which is sign that sellers are in control and that buyers got exhausted. We found that fake breakout of the resistance at $5.324 in the background, which adds more weakness on the BTC. Our advice is to watch for selling opportunities with the downward targets at $4.651 and $4.133.

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

Germany March Inflation Slowdown Confirmed

Trading 11 avr 2019 Commentaire »

Germany's consumer price inflation slowed in March, as initially expected, latest figures from the Federal Statistical Office showed on Thursday.

The consumer price index rose 1.3 percent year-on-year following a 1.5 percent climb in February. That was in line with the flash estimate. In January, inflation was 1.4 percent.

Compared to the previous month, the CPI rose 0.4 percent in March. Energy inflation accelerated to 4.5 percent from 2.9 percent, while food price growth halved to 0.7 percent from 1.4 percent.

The harmonized index of consumer prices, which is meant for EU comparison, climbed 1.4 percent annually, which was slightly slower than the 1.5 percent estimated initially. The HICP rose 0.5 percent monthly in March, which was also slower than the initial estimate of 0.6 percent.


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

France CPI Inflation Confirmed At 17-month Low

Trading 11 avr 2019 Commentaire »

France's consumer price inflation slowed to its weakest level in 17 months in March, final data from INSEE confirmed on Thursday.

The consumer price inflation slowed to 1.1 percent in March from 1.3 percent in February, in line with the flash estimate. The latest inflation rate was the weakest since October 2017, when it was the same 1.1 percent.

The statistical office attributed the easing mainly to slowdown in the prices of services, food and tobacco. Energy price growth accelerated.

On a month-on-month basis, the consumer price index climbed 0.8 percent in March, after remaining unchanged in February. That was also in line with the flash estimate. Core inflation eased to 0.5 percent from 0.7 percent seen in each of the four previous months.

The monthly inflation rate was the highest since March 2018, when it was 1 percent.

Inflation based on the EU measure of harmonized index of consumer prices, or HICP, slowed to 1.3 percent in March from 1.6 percent in February. Compared to the previous month, the HICP climbed 0.9 percent after a modest 0.1 percent rise in February.


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

France CPI Inflation Confirmed At 17-month Low

Trading 11 avr 2019 Commentaire »

France's consumer price inflation slowed to its weakest level in 17 months in March, final data from INSEE confirmed on Thursday.

The consumer price inflation slowed to 1.1 percent in March from 1.3 percent in February, in line with the flash estimate. The latest inflation rate was the weakest since October 2017, when it was the same 1.1 percent.

The statistical office attributed the easing mainly to slowdown in the prices of services, food and tobacco. Energy price growth accelerated.

On a month-on-month basis, the consumer price index climbed 0.8 percent in March, after remaining unchanged in February. That was also in line with the flash estimate. Core inflation eased to 0.5 percent from 0.7 percent seen in each of the four previous months.

The monthly inflation rate was the highest since March 2018, when it was 1 percent.

Inflation based on the EU measure of harmonized index of consumer prices, or HICP, slowed to 1.3 percent in March from 1.6 percent in February. Compared to the previous month, the HICP climbed 0.9 percent after a modest 0.1 percent rise in February.


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

U.S. Producer Price Growth Exceeds Estimates Amid Spike In Energy Prices

Trading 11 avr 2019 Commentaire »

A report released by the Labor Department on Thursday showed a spike in energy prices contributed to a bigger than expected increase in U.S. producer prices in the month of March.

The Labor Department said its producer price index for final demand climbed by 0.6 percent in March after inching up by 0.1 percent in February. Economists had expected prices to rise by 0.3 percent.

The bigger than expected increase in producer prices came as energy prices skyrocketed by 5.6 percent in March following a 1.8 percent jump in February. Gasoline prices soared by 16.0 percent.

The report also showed a rebound in food prices, which rose by 0.3 percent in March after falling by 0.3 percent in the previous month.

Core producer prices, which exclude food and energy prices, also rose by 0.3 percent in March following a 0.1 percent uptick in February. Core prices had been expected to edge up by 0.2 percent.

The growth in core prices in March matched the 0.3 percent increase in prices for services, which came in unchanged in February.

A 1.1 percent spike in prices for trade services more than offset a 0.8 percent slump in prices for transportation and warehousing services.

The Labor Department said nearly a third of the increase in the index for final demand services can be traced to margins for apparel, jewelry, footwear, and accessories retailing.

Compared to the same month a year ago, producer prices were up by 2.2 percent in March, reflecting an acceleration from the 1.9 percent increase in February.

Meanwhile, the annual rate of growth in core consumer prices edged down to 2.4 percent in March from 2.5 percent in the previous month.

"The upshot is that the producer price data are consistent with consumer price inflation remaining slightly below the Fed's target," said Paul Ashworth, Chief U.S. Economist at Capital Economics.

A separate report released by the Labor Department on Wednesday showed consumer prices in the U.S. increased by slightly more than anticipated in the month of March.

The Labor Department said its consumer price index climbed by 0.4 percent in March after edging up by 0.2 percent in February. Economists had expected the index to rise by 0.3 percent.

Consumer prices showed their biggest monthly increase in over a year, as energy prices soared by 3.5 percent in March after rising by 0.4 percent in February.

Excluding the jump in energy prices and a modest increase in food prices, core consumer prices inched up by 0.1 percent in February, matching the uptick seen in the previous month. Core prices had been expected to tick up by 0.2 percent.

Increases in prices for shelter, medical care, new vehicles, recreation, education, and tobacco were partly offset by lower prices for apparel, used cars and trucks, and airline fares.

With the monthly increase, the Labor Department said the annual rate of consumer price growth accelerated to 1.9 percent in March from 1.5 percent in February.

On the other hand, the report said the annual rate of growth in core consumer prices slowed to 2.0 percent from 2.1 percent.


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

U.S. Weekly Jobless Claims Unexpectedly Drop To Nearly 50-Year Low

Trading 11 avr 2019 Commentaire »

First-time claims for U.S. unemployment benefits once again slid to their lowest level in nearly 50 years in the week ended April 6th, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims fell to 196,000, a decrease of 8,000 from the previous week's revised level of 204,000.

The continued drop surprised economists, who had expected jobless claims to rise to 211,000 from the 202,000 originally reported for the previous week.

With the unexpected decrease, initial jobless claims fell to their lowest level since hitting 193,000 in October of 1969.

The Labor Department said the less volatile four-week moving average also dipped to 207,000 from the previous week's revised average of 214,000, hitting its lowest level since December of 1969.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also decreased by 13,000 to 1.713 million in the week ended March 30th.

The four-week moving average subsequently dropped to 1,734,500, a decrease of 11,000 from the previous week's revised average of 1,745,500.

Last Friday, the Labor Department released a separate report showing a substantial reacceleration in the pace of job growth in the month of March.

The report said non-farm payroll employment jumped by 196,000 jobs in March after edging up by a revised 33,000 jobs in February.

Economists had expected employment to increase by about 180,000 jobs compared to the uptick of 20,000 jobs originally reported for the previous month.

The Labor Department highlighted notable job gains in the healthcare and professional and technical services sectors.

Despite the stronger than expected job growth, the unemployment rate held at 3.8 percent in March, unchanged from February and in line with economist estimates.

The unemployment rate was unchanged as the labor force shrank by 224,000 people compared to a 201,000-person contraction in the household survey measure of employment.

The report said average hourly employee earnings rose by $0.04 to $27.70 in March, although the annual rate of growth slowed to 3.2 percent from 3.4 percent.


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

U.S. Weekly Jobless Claims Unexpectedly Drop To Nearly 50-Year Low

Trading 11 avr 2019 Commentaire »

First-time claims for U.S. unemployment benefits once again slid to their lowest level in nearly 50 years in the week ended April 6th, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims fell to 196,000, a decrease of 8,000 from the previous week's revised level of 204,000.

The continued drop surprised economists, who had expected jobless claims to rise to 211,000 from the 202,000 originally reported for the previous week.

With the unexpected decrease, initial jobless claims fell to their lowest level since hitting 193,000 in October of 1969.

The Labor Department said the less volatile four-week moving average also dipped to 207,000 from the previous week's revised average of 214,000, hitting its lowest level since December of 1969.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also decreased by 13,000 to 1.713 million in the week ended March 30th.

The four-week moving average subsequently dropped to 1,734,500, a decrease of 11,000 from the previous week's revised average of 1,745,500.

Last Friday, the Labor Department released a separate report showing a substantial reacceleration in the pace of job growth in the month of March.

The report said non-farm payroll employment jumped by 196,000 jobs in March after edging up by a revised 33,000 jobs in February.

Economists had expected employment to increase by about 180,000 jobs compared to the uptick of 20,000 jobs originally reported for the previous month.

The Labor Department highlighted notable job gains in the healthcare and professional and technical services sectors.

Despite the stronger than expected job growth, the unemployment rate held at 3.8 percent in March, unchanged from February and in line with economist estimates.

The unemployment rate was unchanged as the labor force shrank by 224,000 people compared to a 201,000-person contraction in the household survey measure of employment.

The report said average hourly employee earnings rose by $0.04 to $27.70 in March, although the annual rate of growth slowed to 3.2 percent from 3.4 percent.


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