Ichimoku cloud indicator short-term analysis of EURUSD for November 4, 2019

Trading 04 nov 2019 Commentaire »

EURUSD is pulling back today towards 1.1140 after making a double top around 1.1180. Daily trend according to the Ichimoku cloud indicator is bullish as price is above the Kumo (cloud). However if price closes below 1.1123 we should expect more weakness to come.

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EURUSD is above both the tenkan- and kijun-sen indicators. Daily trend is bullish but price has found resistance at 1.1180 and is getting a pull back. The Chikou span (dark green indicator) has hit the cloud resistance confirming the importance of 1.1180. If price breaks below the tenkan-sen (1.1123) we could see price fall towards the Kumo (cloud) at 1.1070 or even towards the kijun-sen at 1.1030. If resistance at 1.1180 breaks we should expect 1.1250 to be achieved at least. Currently short-term traders favor bearish positions as the stop for the bearish scenario is closer and the risk reward is better.The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of Gold for November 4, 2019

Trading 04 nov 2019 Commentaire »

Gold price got rejected once again at the $1,520 resistance area confirming that this is a very important resistance area that needs to be broken in order for price to go towards $1,600. As long as price is trading above $1,490-87 bulls have hopes for a bullish break out.

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Orange - rectangle - resistance area

Green line - support trend line

Gold price is getting rejected at the orange resistance area. We have mentioned this resistance area several times before in our analysis and we remain bearish as long as price is below this resistance. Support is found by the green upward sloping trend line. A break below the green trend line will be a bearish sign and will increase the chances of a move lower towards $1,460-40. If the green line holds, we could see a break above the orange resistance area towards $1,600. So the two most important levels to keep an eye on are $1,520 and $1,490.

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November 4, 2019 : GBP/USD Intraday technical analysis and trade recommendations.

Trading 04 nov 2019 Commentaire »

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Few weeks ago, the neckline of the depicted Double-Bottom pattern (1.2400-1.2415) was breached to the upside allowing further bullish advancement to occur towards 1.2800 then 1.3000 where the GBP/USD pair looked OVERBOUGHT.

Shortly After, the GBP/USD pair has failed to achieve a persistent bullish breakout above the depicted SUPPLY-zone (1.2980-1.3000) which corresponds to a previous Prominent-TOP that goes back to May 2019.

Moreover, the depicted ascending wedge reversal pattern has been confirmed indicating a high probability of bearish reversal around the price levels of 1.2950-1.2970.

That's why, a quick bearish movement was initiated towards 1.2780 (Key-Level) where the current bullish recovery was recently initiated.

The recent Bullish rejection around the price levels of 1.2780, indicated another temporary bullish movement towards 1.2980-1.3000 where another long-term bearish swing can be initiated.

Moreover, a quick bearish breakout below 1.2780 should be achieved to enable further bearish decline towards 1.2600-1.2650 where some bullish recovery should be anticipated.

Please note that bullish breakout above 1.3000 invalidates the mentioned bearish outlook temporarily until re-closure below 1.2970 is established again.

Trade Recommendations:

Intraday traders can look for bearish rejection around 1.2980-1.3000 as a valid SELL signal with T/P levels projected towards 1.2780 and 1.2650.

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November 4, 2019 : EUR/USD Intraday technical analysis and trade recommendations.

Trading 04 nov 2019 Commentaire »

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Since September 13, the EUR/USD has been trending-down within the previous short-term bearish channel until an Inverted Head & Shoulders Pattern was demonstrated around 1.0880.

Shortly After, a bullish breakout above 1.0940 confirmed the mentioned reversal Pattern which opened the way for further bullish advancement towards (1.1000 -1.1020) maintaining bullish movement above the recent bullish trend.

On October 7, a sideway consolidation range was demonstrated around the price zone of (1.1000 -1.1020) before another bullish swing could be initiated towards 1.1175 where the previous bearish movement was recently originated.

Last week, the short-term technical outlook has temporarily turned into bearish after breakdown below 1.1090 was achieved (the depicted uptrend line and 50% Fibonacci Retracement Level).

However, recent bullish movement has been demonstrated above (1.1090 - 1.1100) advancing towards 1.1175. Thus, hindering further bearish decline.

On the other hand, the current price zone around 1.1175 - 1.1190 should be watched for early bearish rejection and a possible Intraday SELL entry.

Hence, a Double-Top pattern may be in progress with neckline located around 1.1070. Bearish Projection target would be located around 1.1000.

Quick bearish decline should be expected towards 1.1025 and 1.0995 provided that early bearish breakout below 1.1090-1.1070 is re-established again.

Trade recommendations :

Conservative traders can have a valid SELL entry anywhere around the backside of the broken uptrend line (1.1175).

Initial T/P levels to be projected towards 1.1110, 1.1085 and 1.1060. while S/L should be placed above 1.1200.

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BTC 11.04.2019 -2-day balance in the focus, watch for breakout to confirm further direction

Trading 04 nov 2019 Commentaire »

Bitcoin has been trading upwards in the past 24 hours. The price did test the level of $9.300 I found 2 important pivot points for the BTC.The 2-day high at the price of $9.420 and the 2-day low at the price of $8.920.

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The successful breakout of the 2-day high at $9.420 may lead us for test of $9.920.

The successful breakout of the 2-day low may lead us for potential test of $8.600

MACD is showing positive reading above the zero

Bollinger band is headiing upside and the middle line at the price of $8.485 is providin support.

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Austria Jobless Rate Rises In October

Trading 04 nov 2019 Commentaire »

Austria's jobless rate in October rose from the previous month, the Public Employment Service, or AMS, said on Monday.

The unemployment rate increased to 7.0 percent in October from 6.7 percent in September.

The number of unemployed fell by 11,527 persons or 3.2 percent year-on-year to 354,026 in October.

The number of job vacancies increased in October. The job vacancies rose by 2,452 or 3.3 percent from the previous year to 76,177.

The number of employed persons increased by 49,000 persons or 1.3 percent year-on-year to 3.816 million.


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Romania Producer Price Inflation Lowest In 2 Years

Trading 04 nov 2019 Commentaire »

Romania producer price inflation eased to the lowest in more than two years in September, data from the National Institute of Statistics showed on Monday.

The producer price index rose 3.06 percent year-on-year in September, after a 3.23 percent increase in August.

The latest inflation was the lowest since July 2017, when it was 2.75 percent.

Prices for non-durable consumer goods grew 4.27 percent annually in September and those of energy, and durable consumer goods industry rose 3.60 percent and 3.35 percent, respectively.

Producer prices in the domestic market and foreign market rose 4.18 percent and 1.22 percent, respectively. In August, the corresponding figures were 4.72 percent and 0.80 percent, respectively.

On a monthly basis, producer prices rose 0.11 percent in September.


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GBP/USD 11.04.2019 – Important support level at the price of 1.2900 is on the test, big decision level

Trading 04 nov 2019 Commentaire »

GBP has been trading downwards in the past 24 hours and the price did test the level of 1.2900. I found that level at 1.2900 is go-no go level and very important pivot level.

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Successful rejection of the support at 1.2900 may lead us for potential test of 1.2970 and buying the dips on the lower frames 5/15 would be appropriate strategy.

Downside breakout of the support may lead for potential test of 1.2850.

MACD is showing increased momentum on the downside

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*Latvia Sep Industrial Production Up 1.2% On Month Vs. 3.1% In August

Trading 04 nov 2019 Commentaire »

Latvia Sep Industrial Production Up 1.2% On Month Vs. 3.1% In August


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*Latvia Sep Industrial Production Up 7.3% On Year Vs. 2.0% In August

Trading 04 nov 2019 Commentaire »

Latvia Sep Industrial Production Up 7.3% On Year Vs. 2.0% In August


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