New York Manufacturing Index Rebounds More Than Expected In April

Trading 15 avr 2019 Commentaire »

After reporting an unexpected slowdown in the pace of growth in New York manufacturing activity in the previous month, the Federal Reserve Bank of New York released a report on Monday showing growth picked up somewhat in April but remained fairly subdued.

The New York Fed said its headline general business conditions index climbed to 10.1 in April after falling to 3.7 in March, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to rise to 6.0.


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*New York Manufacturing Index Climbs To 10.1 In April

Trading 15 avr 2019 Commentaire »

New York Manufacturing Index Climbs To 10.1 In April


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Bitcoin analysis for April 15, 2019

Trading 15 avr 2019 Commentaire »

BTC has been trading sideways at the price of $5.131. We are still expecting more downside on the BTC.

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According to the H4 time-frame, we found that bearish flag is in creation just after the BTC did break the support trendline, which is sign that potential distribution of orders may appear. Our advice is to watch for the breakout of the support trendline to confirm further downward movement. Support levels are seen at the price of $4.660 and at the price of $4.121.

Trading recommendation: We are bearish on the BTC from $5.130 with the targets at $4.660 and $4.121. Protective stop is placed at $5.460.

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EUR./USD analysis for April 15, 2019

Trading 15 avr 2019 Commentaire »

EUR/USD has been trading upwards. The price tested the level of 1.1320. We are expecting more upside continuation on the EUR/USD.

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According to the Daily time-frame, we found that there is the breakout of the 4-day balance in the background and key resistance at the price of 1.1286, which is sign that buyers are in control and that there is demand for the EUR currency. Also, in the background, there is the fail test of the key low at 1.1176, which is another sign of the strength.

Trading recommendation: We are bullish on the EUR from 1.1300 with the targets at 1.1390 and 1.1420. Protective stop is placed at 1.1225.

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Analysis of Gold for April 15, 2019

Trading 15 avr 2019 Commentaire »

Gold has been trading downwards. As we expected, the price tested the level of $1.283.20. The gold is approaching the key short-term support at the price of $1.281.00, selling at this stage looks risky.

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According to the H1 time-frame, we found that sellers are in control but that key support at the price of $1.281.20 is very close to current price, which is sign that selling looks risky. We found bullish divergence on the LBR oscillator in creation, which is sign that potential rally might happen. Supply line is holding for now but the upward breakout may confirm further rally. Resistance levels are seen at the price of $1.289.20 and $1.295.00. Key support is seen at the price of $1.281.20.

Trading recommendation: We closed our short position from $1.290.80 and we made 0.6% profit. We are neutral on the Gold now but we will observe key support at $1.281.20 to see how the price will reacti around that level.

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EUR / USD plan for the US session on April 15. Another unsuccessful attempt to grow the euro

Trading 15 avr 2019 Commentaire »

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

Buyers of the European currency failed to break through the resistance of 1.1319, which I paid attention to in the morning review. Only after a breakthrough of this range can we talk about the continuation of the upward trend in the area of highs at 1.1358 and 1.1388, where I recommend taking profits. In case that the downward correction of the EUR/USD pair moves further to the support area of 1.1294, it is best to consider buying EUR/USD from this range but provided that a false breakdown is formed. On the other hand, larger long positions are best to open on a rebound from the lows of 1.1265 and 1.1232.

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

The failure to consolidate above the resistance of 1.1319 in the first half of the day led to the return of euro sellers to the market, whose first goal is to reduce to the support area of 1.1294. A repeated test of this level may lead to a larger sale of EUR / USD to the minima at the area of 1.1265 and 1.1232, where I recommend taking profits. If the EUR / USD growth scenario takes place above 1.1319, the divergence will continue to form on the MACD indicator, which allows short positions to be considered on a rebound from both highs at 1.1358 and 1.1388.

More in the video forecast for April 15

Indicator signals:

Moving averages

Trade is conducted in the region of 30 and 50 moving averages, which indicates a slowdown in the upward correction of the euro.

Bollinger bands

In the event of a decline in the euro in the afternoon, the support will be provided by the lower limit of the Bollinger Bands indicator around 1.1294. Against it will lead to a larger wave of euro 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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BITCOIN Analysis for April 15, 2019

Trading 15 avr 2019 Commentaire »

Bitcoin is currently trapped in a trading range from $5,000 to $5,250. Recently, the price managed to gain certain bullish momentum after a drastic dip towards $5,000.

The price maintains the trend line which is holding the price as support from where the price is going to push higher with a target towards $5,250. Later if a daily close is seen above this level, then further upward pressure is expected. The price above the Kumo Cloud may fluctuate and correct itself as the volatility still persists. For clearly impulsive bullish pressure, a break above $5,250 is required. Holding above $5,000 indicates a further bullish bias with a target towards $5,500 and later towards $6,000 in the future.

SUPPORT: 4,800-80, 5,000

RESISTANCE: 5,250, 5,500

BIAS: BULLISH

MOMENTUM: VOLATILE

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India Wholesale Price Inflation At 3-Month High

Trading 15 avr 2019 Commentaire »

India's wholesale price inflation accelerated for the second month in a row in March, data from the Ministry of Commerce & Industry showed on Monday.

Wholesale price inflation rose to a three-month high of 3.18 percent in March from 2.93 percent in February. Economists had expected a 3.23 percent rise.

Build up inflation rate in the financial year so far was 3.18 percent compared to a build up rate of 2.74 percent in the corresponding period of the previous year.

The index for primary article grew 0.4 percent annually in March and prices for food articles rose 0.9 percent.

On a monthly basis, wholesale prices rose 0.4 percent in March.


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India Wholesale Price Inflation At 3-Month High

Trading 15 avr 2019 Commentaire »

India's wholesale price inflation accelerated for the second month in a row in March, data from the Ministry of Commerce & Industry showed on Monday.

Wholesale price inflation rose to a three-month high of 3.18 percent in March from 2.93 percent in February. Economists had expected a 3.23 percent rise.

Build up inflation rate in the financial year so far was 3.18 percent compared to a build up rate of 2.74 percent in the corresponding period of the previous year.

The index for primary article grew 0.4 percent annually in March and prices for food articles rose 0.9 percent.

On a monthly basis, wholesale prices rose 0.4 percent in March.


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The euro may be happy to grow but there are too many obstacles in its way

Trading 15 avr 2019 Commentaire »

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Even despite the pessimistic notes that were present in the speech of the ECB President Mario Draghi following the regular meeting of the regulator on Wednesday, April 10, the common European currency managed to play about 100 points from the greenback and rise above $1.13 for the first time since March 26. Today, EUR/USD continues to trade over this mark.

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According to experts, the growth of EUR/USD was due to the postponement of Brexit, as well as the fact that the statistics for the eurozone published last week was better than the forecast. Thus, according to Eurostat, in February the volume of industrial production in the euro area decreased by 0.2% in monthly terms and by 0.3% in annual terms. Analysts expected that the first indicator will decrease by 0.6%, and the second – by 1%.

However, this may not be enough to maintain optimism regarding the euro.

First, the degree of trade tension between the United States and the Old World is rising. In response to Washington's threats to impose duties on European goods worth $11 billion, Brussels has already prepared a "list of retaliation" worth more than $12 billion.

Secondly, the business activity indices in the manufacturing sector of Germany and the currency bloc as a whole, which will be released this Thursday, can confirm that the industry is no longer a driver for the growth of European GDP. The mood of traders can also spoil the data on business optimism from ZEW and the level of inflation in the euro area, which will be released this week

Thus, in the case of worsening statistics, the "bears" on EUR/USD can revive again. It is assumed that if not immediately, then at least until the end of the month, the pair may go down, trying to test the April lows again in the 1.1180 area. However, before heading south, EUR/USD may reach the level of 1.1350.

It is expected that in the medium term, the pair will decline against the background of the increasing difference in the economic performance of the eurozone and the United States, as well as due to the varying degree of "softness" of the monetary policy of the Fed and the ECB.

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