GBP/USD: plan for the European session on December 12. Only a solution to the Irish border issue will help to conclude an

Trading 12 déc 2018 Commentaire »

To open long positions on GBP/USD is required:

So far, British Prime Minister Theresa May can't reach an agreement on Brexit, and it is possible only if the issue is resolved with the Irish border. For buyers, hope remains at the support level of 1.2482, the formation of a false breakdown on which, with confirmation of the divergence on the MACD indicator, will be a good signal to buy the pound in order to return and consolidate above the resistance of 1.2534. Only after that can we talk about a larger upward correction in the resistance area of 1.2580 and 1.2626, where I recommend to take profit. In case of a further decline in the pound trend, good support levels are seen in the area of 1.2454, 1.2429 and 1.2405.

To open short positions on GBP/USD is required:

The formation of a false breakout at the resistance level of 1.2534 with a rebound from the 30-day moving average will be a signal to sell the pound in order to break and consolidate below the support of 1.2482, which will lead to a major sell-off of the GBP/USD with an exit to the lows of The main target will be the area of 1.2405, where I recommend to take profit. In case of a larger upward correction, you can look at short positions on the rebound from the resistance of 1.2580.

Indicator signals:

Moving averages

Trading is conducted under 30-day and 50-day moving averages, which indicates the bearish nature of the market.

Bollinger Bands

The upward correction in the pair will be limited by the upper limit of the Bollinger Bands indicator in the area of 1.2609, the test of which will be a sell signal. In case the pound decreases, you can look at the long positions on the rebound from the lower border, which is located in the area of 1.244.

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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

Forecast for GBP/USD for December 12, 2018

Trading 12 déc 2018 Commentaire »

GBP/USD

In the British Parliament, the confusion only intensifies. Theresa May's plan for Brexit now does not suit even conservatives. The attempt to revise the agreement with the EU, as expected, met with strong resistance from the EU, where Angela Merkel is most indignant The pound lost 72 points at the additional pressure of the dollar. The price went under the embedded trend line of the price channel on the daily chart, the targets 1.2400 and 1.2300 are open.

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Indicator analysis. Daily review for December 12, 2018 for the EUR / USD pair

Trading 12 déc 2018 Commentaire »

On Wednesday, it is possible to continue the downward movement with the first target 1.1301 - the historical level of support (blue dashed line).

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Fig. 1 (daily schedule).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - neutral;

- volumes - top;

- candlestick analysis is neutral;

- trend analysis - down;

- Bollinger lines - down;

- weekly schedule - up.

General conclusion:

On Wednesday, it is possible to continue the downward movement with the first target 1.1301 - the historical level of support (blue dashed line). From this level you can work up.

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

Technical analysis for Gold for December 12, 2018

Trading 12 déc 2018 Commentaire »

Gold price is trading inside a bullish channel. Daily trend is bullish. Gold is making higher highs and higher lows since last August and could see $1,250-60 area over the next couple of weeks.

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Green lines - bullish channel

Blue rectangle - short-term support

With short-term support and previous short-term high at $1,230, we could see a pull back towards that area before the resumption of the up trend we are currently in. Gold bulls do not want to see price break out and below the $1,210 channel support. A bearish confirmation will come with the break of $1,196. On the other hand bulls want to see this price action of higher highs and higher lows continue. Resistance is at $1,264.

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

Technical analysis for EUR/USD for December 12, 2018

Trading 12 déc 2018 Commentaire »

EURUSD once again got rejected at the 1.14-1.1420 resistance area and is now pulling back towards 1.13 short-term support. So far every new low after the May low at 1.1510, has been weaker according to the Daily RSI. For this bullish pattern to be confirmed bulls will need to break above 1.14 and stay above it.

analytics5c10ab7978977.png

Green lines - bullish divergence

Red line - trend line resistance

EURUSD is trading above 1.13. Support is here and next at 1.1270. Losing 1.1270 could push price towards 1.1170. Resistance remains at 1.14-1.1420. Breaking above it would be a bullish reversal signal and could push prices towards 1.16 at least. Trend is bearish below 1.14 and bullish above it. Simple as that.

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

Japan Core Machine Orders Gain 7.6% In October

Trading 12 déc 2018 Commentaire »

Core machine orders in Japan were up 7.6 percent on month in October, the Cabinet Office said on Wednesday - worth 863.2 billion yen.

That was shy of expectations for an increase of 9.7 percent following the 18.3 percent plunge in September.

On a monthly basis, orders were up 4.5 percent - again missing forecasts for 5.0 percent but up from the 7.0 percent contraction in the previous month.

For the fourth quarter of 2018, core machine orders are forecast to have risen 3.6 percent on quarter and 10.5 percent on year.


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

Japan Producer Prices Sink 0.3% In November

Trading 12 déc 2018 Commentaire »

Producer prices in Japan were down 0.3 percent on month in November, the Bank of Japan said on Wednesday.

That missed expectations for a decline of 0.1 percent following the 0.4 percent increase in October.

On a yearly basis, producer prices climbed 2.3 percent - again shy of forecasts for 2.4 percent and down from 3.0 percent in the previous month.

Export prices were down 0.1 percent on month and up 0.5 percent on year, the bank said, while import prices added 0.9 percent on month and jumped 9.5 percent on year.


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

*Japan Core Machine Orders +7.6% On Month, +4.5% On Year In October

Trading 12 déc 2018 Commentaire »

Japan Core Machine Orders +7.6% On Month, +4.5% On Year In October


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

*Japan Producer Prices -0.3% On Month, +2.3% On Year In November

Trading 12 déc 2018 Commentaire »

Japan Producer Prices -0.3% On Month, +2.3% On Year In November


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

*Australia Consumer Confidence Index +0.1% In December To 104.4 – Westpac

Trading 12 déc 2018 Commentaire »

Australia Consumer Confidence Index +0.1% In December To 104.4 - Westpac


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