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  • Trump and the Big Seven: Did not reach an agreement

    Trump and the Big Seven: They did not reach an agreement.

    On Friday and Saturday, June 8-9, Canada hosted the G-7 summit. Despite the large number of issues on the agenda, the issue is really only one, it's the main one: the new fees that Trump introduces against the US trade partners - against China and Mexico - and against the US allies - Canada and European countries.

    The outcome of the first day of the summit is short: they did not agree. There are no joyful media reports about a "breakthrough" in the main issue. All the efforts of the participating countries turned out to somehow sign the final text - it must be signed before the middle of the Saturday, June 9, as Trump announced in advance that he would fly early to Hong Kong for a meeting with the head of North Korea.

    All media write that everything could have ended even worse-the refusal of countries to sign the final text - and this is actually a complete collapse of the group of seven.

    Let's note an interesting turn of the plot around Russia. Trump, even before the summit, to all the other leaders of the Seven, unexpectedly said that it was necessary to return Russia to the Seven (that is, to the G8, respectively). Trump's proposals were quickly rejected by the leaders of Germany and Britain, but Italy supported it. Very quickly, literally within one or two hours, Putin's spokesman Peskov said that the Kremlin (read - Putin) is not interested in returning to the G8 - "we are more interested in developing other formats." (On this day, Putin met with the leader of China, Xi Jinping).

    At the very meeting of the Group of Seven, Trump did not raise the topic of Russia's accession to the Group of Eight. At the same time, it was stated that "all European countries in the Group of Seven are against the return of Russia - until the conflict is settled in Ukraine" (that is, Italy was promptly "persuaded"). Still, we note that Germany and Sweden and Finland agreed to the construction of the Nord Stream 2 gas pipeline - which was opposed by Trump ... (this is not about the Group of Seven, but important for the overall picture).

    The result is this: the General Statement of the Group of Seven will most likely be signed - but there is no main text in the text - a decision on the trade dispute over the new Trump duties. At the same time, the EU is preparing an introduction in July of reciprocal duties on goods from the United States. The last attempt to agree - Merkel's proposal to convene a "forum" specifically on the issue of trade conflicts.

    How will this affect the markets? I do not think that we will have a noticeable gap at the opening on Monday. But I do not see any reason for rapid growth.

    EURUSD - closing day and week.

    *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

    Analysis are provided by InstaForex

    Comment


    • EUR/CHF Bounced Off Support, Prepare For Further Rise

      EUR/CHF bounced off its support at 1.1581 (61.8% Fibonacci extension, 61.8% & 38.2% & 23.6% Fibonacci retracement, horizontal overlap support) where we expect prices to rise to its resistance at 1.1658 (61.8% Fibonacci extension, horizontal swing high resistance).

      Stochastic (55, 5, 3) bounced off its intermediate support at 10% where a corresponding rise is expected.

      Buy above 1.1581. Stop loss at 1.1534. Take profit at 1.1658.

      *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

      Analysis are provided by InstaForex

      Comment


      • AUD/USD Approaching Support, Prepare For A Bounce!

        AUD/USD is approaching its support at 0.7560 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where we expect to see a bounce, causing the price to rise to its resistance at 0.7659 (61.8% & 50% Fibonacci retracement, horizontal overlap resistance).

        Stochastic (89, 5, 3) is approaching its support at 9.6% where a corresponding bounce is expected.

        Buy above 0.7560. Stop loss 0.7513. Take profit at 0.7659.



        *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

        Comment


        • Elliott wave analysis of EUR/NZD for June 19, 2018

          Our short-term expectations for EUR/NZD was spot on. First, we saw a minor corrective set-back to 1.6671 (we were looking for 1.6676) before moving higher to 1.6795 (we were looking for a rally into the 1.6768 - 1.6793 area to complete the first impulsive rally of the 1.6567 low. With this five wave rally complete with the test of 1.6795 we will be looking for a correction in wave ii/ into the 1.6652 - 1.6679 area before moving higher in wave iii/ towards at least 1.7047.

          R3: 1.6842
          R2: 1.6817
          R1: 1.6794
          Pivot: 1.6758
          S1: 1.6728
          S2: 1.6695
          S3: 1.6671

          Trading recommendation:
          We will sell EUR here at 1.6772 and place our stop at 1.6845. We will take profit and buy EUR at 1.6680

          *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

          Analysis are provided by InstaForex

          Comment


          • Elliott wave analysis of EUR/NZD for June 20, 2018

            Wave i/ extended higher to a peak at 1.6831 before letting wave ii take over for a correction lower to at least the low of wave four of one lesser degree at 1.6671. This is very close to the 61.8% corrective target of wave i/ seen at 1.6667. Once this correction is complete near the 1.6667 - 1.6671 area, we will be looking for wave iii/ higher to at least 1.7086.

            Short-term, we expect minor resistance at 1.6766 to be able to cap the upside for the decline into the 1.6667 - 1.6671 area to complete wave ii/.

            R3: 1.6830
            R2: 1.68.12
            R1: 1.6788
            Pivot: 1.6766
            S1: 1.6729
            S2: 1.6700
            S3: 1.6680

            Trading recommendation: We are short EUR from 1.6772 and we will move our stop +revers lower to 1.6815. We will take profit and buy EUR at 1.6680.

            *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

            Analysis are provided by InstaForex

            Comment


            • Technical analysis of Gold June 21, 2018

              If We look at the Daily Charts from Gold, We can see clearly they moving in Weekly Up Slope Channel, and now they have a retracement to the down side as long as they not breakout and close above the 1304.93 Gold will going down 1236.09 as their Support level.

              *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

              Analysis are provided by InstaForex

              Comment


              • Elliott wave analysis of EUR/NZD for June 22, 2018

                The minor correction we expected from 1.6921 moved slightly lower than expected and spiked down to 1.6806, but that does not change our outlook for a new impulsive rally soon towards 1.7133 and above.

                Short-term, we could see another minor spike to near 1.6806 before the next move higher should be expected.

                Only an unexpected break below support at 1.6737 will question our bullish outlook.

                R3: 1.7025
                R2: 1.6964
                R1: 1.6933
                Pivot: 1.6890
                S1: 1.6837
                S2: 1.6784
                S3: 1.6737

                Trading recommendation:
                We are long EUR from 1.6815 with our stop placed at 1.6730. If you are not long EUR yet, then buy near 1.6806 or upon a break above 1.6933 and use the same stop at 1.6730.

                *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

                Analysis are provided by InstaForex

                Comment


                • Elliott wave analysis of EUR/JPY for June 25, 2018

                  We continue to look for more upside here. A break above minor resistance at 1.6933 will call for a continuation higher towards 1.7133 as the next minor upside target on the way higher. Support is now seen at 1.6806 and is expected to be able to protect the downside for a break above 1.6933.

                  R3: 1.7025
                  R2: 1.6964
                  R1: 1.6933
                  Pivot: 1.6890
                  S1: 1.6837
                  S2: 1.6806
                  S3: 1.6784

                  Trading recommendation:
                  We are long EUR from 1.6815 with our stop placed at 1.6730. If you are not long EUR yet, then buy near 1.6806 or upon a break above 1.6933 and use the same stop at 1.6730.

                  Analysis are provided by InstaForex

                  Comment


                  • Trading Plan for Crude Oil for June 26, 2018

                    Technical outlook:
                    A medium-term time frame has been presented (4 hours) here, and the most probable wave counts have been labelled here. It looks to be like a bearish resumption trade setup is getting ready in Crude Oil now. Let us understand the wave counts from sub 73.00 levels. The drop from 73.00 to almost 63.50 has been an impulse (unfolding into 5 waves) as labeled here. The entire drop can be labeled as wave (1). The subsequent rally then unfolded into a probable Zigzag (5-3-5) corrective wave structure, labeled as a-b-c here. Also note that the termination of the wave (2) is just at Fibonacci 0.618 resistance, around 69.50 levels, which triggered a sharp reversal yesterday. if this ave structure holds to be good, we should witness a continued drop lower towards 58.00 and 48.00 respectively. Ideally, prices should now stay below 73.00 levels going forward.

                    Trading plan:
                    Remain short now, stop above 73.00, target 58.00 at least.

                    Fundamental outlook:
                    Watch out for US Consumer confidence numbers to be out today at 10:00 AM EST.

                    Analysis are provided by InstaForex

                    Comment


                    • Technical analysis of USD/CAD for June 28, 2018



                      Overview:
                      The USD/CAD pair broke the resistance that turned into strong support at the level of 1.3247 since days. The level of 1.3247 coincides with the ratio of 78.6% Fibonacci which is expected to act as a major support on the H1 chart today. Consequently, the first support is set at the level of 1.3247. Moreover, the RSI starts signaling an upward trend, and the trend is still showing strength above the moving average (100). Hence, the market is indicating a bullish opportunity above the area of 1.3247/1.3300. So, the market is likely to show signs of a bullish trend around 1.3247 - 1.3300. In other words, buy orders are recommended above the ratio of 78.6% Fibonacci (1.3247) with the first target at the level of 1.3387 in order to test the first resistance in the same time frame. If the pair succeeds to pass through the level of 1.3387, the market will probably continue towards the next objective at 1.3442. The daily strong support is seen at 1.3247. Thus, if a breakout happens at the support level of 1.3243, then this scenario may be invalidated.

                      *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

                      Comment


                      • Technical analysis of USD/CHF for June 29, 2018



                        The USD/CHF pair faced resistance at the level of 0.9943. The strong resistance has been already formed at the level of 0.9943 and the pair is likely to try to approach it in order to test it again. However, if the pair fails to pass through the level of 0.9943, the market will indicate a bearish opportunity below the new strong resistance level of 0.9943 (the level of 0.9943 coincides with a ratio of 78.6% Fibonacci). Moreover, the RSI starts signaling a downward trend, as the trend is still showing strength above the moving average (100) and (50). Thus, the market is indicating a bearish opportunity below 0.9943, so it would be good to sell at 0.9940 with the first target of 0.9795. It will also call for a downtrend in order to continue towards 0.9733. The daily strong support is seen at 0.9733. On the other hand, the stop loss order should always be taken into account, for that it will be reasonable to set your stop loss at the level of 1.0055 (the double top on the H4 chart).


                        *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

                        Comment


                        • Technical analysis of AUD/USD for July 04, 2018

                          Overview:
                          Last week, the AUD/USD pair fell from the level of 0.7474 towards 0.7348. Now, the price is set at 0.7371. The resistance is seen at the levels of 0.7426 and 0.7474. Moreover, the price area of 0.7474 remains a significant resistance zone. Therefore, there is a possibility that the AUD/USD pair will move downside and the structure of a fall does not look corrective. The trend is still below the 100 EMA for that the bearish outlook remains the same as long as the 100 EMA is headed to the downside. Thus, amid the previous events, the price is still moving between the levels of 0.7426 and 0.7257. If the AUD/USD pair fails to break through the resistance level of 0.7426, the market will decline further to 0.7474 as the first target. This would suggest the bearish market because the RSI indicator is still in a negative spot and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 0.7302 so as to test the daily support 2. On the other hand, if a breakout takes place at the resistance level of 0.7474, then this scenario may become invalidated.

                          Analysis are provided by InstaForex

                          Comment


                          • Technical analysis: Intraday Level For EUR/USD, July 05, 2018

                            When the European market opens, some Economic Data will be released such as French 10-y Bond Auction, Spanish 10-y Bond Auction, Retail PMI, and German Factory Orders m/m. The US will release the Economic Data too, such as Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, Unemployment Claims, ADP Non-Farm Employment Change, and Challenger Job Cuts y/y, so, amid the reports, EUR/USD will move in a medium to high volatility during this day.

                            TODAY'S TECHNICAL LEVEL:
                            Breakout BUY Level: 1.1718.
                            Strong Resistance:1.1711.
                            Original Resistance: 1.1700.
                            Inner Sell Area: 1.1689.
                            Target Inner Area: 1.1661.
                            Inner Buy Area: 1.1633.
                            Original Support: 1.1622.
                            Strong Support: 1.1611.
                            Breakout SELL Level: 1.1604.

                            Analysis are provided by InstaForex

                            Comment


                            • Technical analysis of NZD/USD for July 06, 2018

                              The NZD/USD (kiwi) pair continues to move downwards from the level of 0.6840. This week, the pair dropped from the level of 0.6840 to trade around the 0.6775 level. This level of 0.6840 coincides with the major resistance today. Today, the first resistance level is seen at 0.6840 followed by 0.6880, while daily support 1 is found at 0.6742. Also, the level of 0.6775 represents a key price today for that it is acting as major resistance/support this week. Amid the previous events, the pair is still in a downtrend, because the NZD/USD pair is trading in a bearish trend from the new resistance line of 0.6840/0.6807 towards the first support level at 0.6742 in order to test it. If the pair succeeds to pass through the level of 0.6742, the market will indicate a bearish opportunity below the level of 0.6742. Then, resell again at the price of 0.6742 with the targets of 0.6716 and 0.6697. On the other hand, if a breakout happens at the resistance level of 0.6840, then this scenario may be invalidated.

                              Analysis are provided by InstaForex

                              Comment


                              • Technical analysis: Intraday Level For EUR/USD, July 09, 2018

                                When the European market opens, some Economic Data will be released such as Sentix Investor Confidence, and German Trade Balance. The US will also release the Economic Data such as Consumer Credit m/m, so amid the reports, EUR/USD will move in a low to medium volatility during this day.

                                TODAY'S TECHNICAL LEVEL:
                                Breakout BUY Level: 1.1808.
                                Strong Resistance:1.1801.
                                Original Resistance: 1.1790.
                                Inner Sell Area: 1.1779.
                                Target Inner Area: 1.1751.
                                Inner Buy Area: 1.1723.
                                Original Support: 1.1712.
                                Strong Support: 1.1701.
                                Breakout SELL Level: 1.1694.

                                Analysis are provided by InstaForex

                                Comment

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