Stuart's FX analysis

Trading Recommendation Entry: 1.10533 Reason for Entry: 61.8% Fibonacci retracement, 127.2% fibonacci extension, horizontal swing low support Take Profit : 1.11418 Reason for Take Profit: horizontal swing high resistance, 61.8% fibonacci retracement Stop Loss: 1.10253 Reason for Stop loss: 78.6% Fibonacci retracement, Horizontal pullback support The material has been provided by InstaForex Company - www.instaforex.com via EUR/USD approaching support, potential bounce!

Trading Recommendation Entry: 1.32024 Reason for Entry: 100% Fibonacci extension, horizontal swing high resistance, 61.8% fibonacci retracement Take Profit : 1.31000 Reason for Take Profit: 78.6% Fibonacci retracement, 100% fibonacci extension, horizontal overlap support Stop Loss: 1.32700 Reason for Stop loss: horizontal swing high resistance, 76.4% fibonacci retracement The material has been provided by InstaForex Company - www.instaforex.com via USD/CAD approaching resistance, potential drop!

Trading Recommendation Entry: 1.11073 Reason for Entry: 38.2% Fibonacci retracement, 78.6% fibonacci extension, horizontal overlap support Take Profit : 1.11868 Reason for Take Profit: horizontal swing high resistance Stop Loss: 1.10616 Reason for Stop loss: 61.8% Fibonacci retracement The material has been provided by InstaForex Company - www.instaforex.com via EUR/USD approaching support, potential bounce!

Trading Recommendation Entry: 109.953 Reason for Entry: 100% Fibonacci extension Take Profit : 107.898 Reason for Take Profit: 50% Fibonacci retracement Stop Loss: 110.654 Reason for Stop loss: horizontal swing high resistance The material has been provided by InstaForex Company - www.instaforex.com via USD/JPY approaching resistance, potential drop!

Trading Recommendation Entry: 1.32024 Reason for Entry: 61.8% Fibonacci retracement, 78.6% fibonacci extension, horizontal swing high resistance Take Profit : 1.31000 Reason for Take Profit: 78.6% Fibonacci retracement, 100% fibonacci extension, horizontal pullback support Stop Loss: 1.32700 Reason for Stop loss: 76.4% Fibonacci retracement, horizontal swing high resistance The material has been provided by InstaForex Company - www.instaforex.com via USD/CAD approaching resistance, potential drop!

Trading Recommendation Entry: 1.11073 Reason for Entry: 38.2% Fibonacci retracement, horizontal overlap support, 78.6% fibonacci extension, breakout level Take Profit : 1.11868 Reason for Take Profit: horizontal swing high resistance Stop Loss: 1.10616Reason for Stop loss: 61.8% Fibonacci retracement The material has been provided by InstaForex Company - www.instaforex.com via EUR/USD approaching support, potential bounce!

Trading Recommendation Entry: 109.378 Reason for Entry: 61.8% retracement, 100% Fibonacci extension Take Profit : 109.666 Reason for Take Profit: horizontal swing high resistance Stop Loss: 109.190 Reason for Stop loss: horizontal overlap support, 38.2% retracement, 100% extension The material has been provided by InstaForex Company - www.instaforex.com via USD/JPY approaching support, potential bounce!

AUD / USD On Tuesday, the Australian dollar fell 32 points, breaking the support of the embedded price channel line on the daily chart. Under the pressure of technical divergence, we are waiting for the price reduction to the first target 0.6815, to the MACD line. Overcoming this line opens the second target of 0.6700 which will support the embedded line of the price channel. On a four-hour chart, the price has fixed below the MACD line, the Marlin oscillator is in the negative zone. We look forward to further price reductions. The material has been provided by InstaForex Company - www.instaforex.com via Forecast for AUD / USD on December 18, 2019

EUR / USD On Tuesday, the euro traded at the Fibonacci level of 110.0% once again, which was helped by good data on the eurozone’s trade balance - volume in October amounted to 24.5 billion euros against the expectation of 19.7 billion. In the USA, the macroeconomic factor was not weaker: industrial production in November increased by 1.1% against the forecast of 0.8%; while the foundations were laid for new houses of 1.37 million y / y against the expectation of 1.34 million y / y. Therefore, investors preferred to take profits after a week of previous growth. According to information from Japanese agencies, direct sales of the euro began during the Asian session today, as evidenced by higher trading volumes than on Monday. On the daily chart, divergence according to Marlin takes on a more pronounced form. Thus, we are waiting for the euro to decline to support the nested price channel line in the region of 1.1062. On the four-hour chart, the signal line of the Marlin oscillator ...

GBP / USD Yesterday, the pound fell by 202 points, blocking not only Friday’s growth, but also at least December 5. On the daily chart, divergence has formed on the Marlin oscillator, while the signal line is attacking the boundary with the territory of the “bears ” The nearest goal of the price is the area of coincidence of the Fibonacci level of 161.8% with the indicator line of MACD - 1.2965. Now, we expect a further decline in the pound to the most significant Fibonacci levels: 123.6% at the price of 1.2730 and 100.0% at the price of 1.2582, with the break down of the support. On the four-hour chart, the price is developing under the indicator lines of balance and MACD. Meanwhile, the Marlin indicator is in a downward position. The material has been provided by InstaForex Company - www.instaforex.com via Forecast for GBP/USD on December 18, 2019

4 hour time-frame Amplitude of the last 5 days (high-low): 35p - 75p - 51p - 93p - 35p. Average volatility over the past 5 days: 58p (average). On Tuesday, December 17, the currency pair EUR/USD, continues, albeit not strong, but growth is approaching local maximums again, and around which, it has turned down several times. During the second trading day of the week, not a single important macroeconomic report was published either in the United States or in the European Union. Thus, in principle, the strengthening of the euro can be called unfounded. Nevertheless, a report on industrial production in the United States is still planned for today, which has a rather high forecasted values, but it is not known whether the market will follow it, as we have already noted that the euro does not always respond to macroeconomic statistics now. At the same time, the euro has managed to maintain its position so far which it won from the US dollar with great difficulty, while the pound quite l...

Today, the pound was under pressure from a fundamental background - both from the side of macroeconomic reports and from the future prospects of Brexit. The British currency could not withstand the onslaught and collapsed against the dollar by almost 200 points, heading towards the 31st figure. For the first time since the announcement of the results of the parliamentary elections, the GBP/USD pair has shown such a powerful downward movement. The usual pessimism returned to the market regarding further relations between London and Brussels - and this despite the 100% probability that the new composition of the House of Commons will approve the long-suffering agreement with Europe. But now, the market is discussing more distant prospects, evaluating the “negotiability” of the parties in the transition period. Today, Johnson took the first step in this direction, which seemed very “unfriendly” to traders. Although, according to some experts, the prime minister begins to artificially esc...

The euphoria caused by the victory of the Tories in the early elections in the UK, has virtually came to an end. Apparently, the prospect of an orderly Brexit was completely won back at the moment when it became known that the conservatives had gained enough seats to form a parliamentary majority. Against this background, the GBP/USD pair tested the resistance of 1.3500, however, it failed to gain a foothold above. Now, fixation by investors of the results of the elections, as well as news that the head of the British Cabinet of Ministers Boris Johnson intends to exclude the possibility of extending the transition period after the country’s exit from the European Union, led to a correction in GBP/USD. In addition, the Prime Minister seems to drive himself into a corner. Once he promised to withdraw Misty Albion from the EU before October 31 or die in the gutter, he is now going to put an end to the retreat if it is not possible to agree with Brussels. This circumstance resuscitates ...

The pound is under pressure again and continues its downward correction after the rapid growth that occurred against the backdrop of the victory of the Conservative Party of Great Britain in parliamentary elections. Yesterday’s weak report on the service sector, together with today’s data on the UK labor market, where there was a sharp increase in the number of applications for unemployment benefits, intensified discussions once again about the likely reduction in interest rates in the UK next year. The unemployment rate itself remained unchanged from August to October 2019. The problem, in addition to the growth in the number of applications, was also represented by the growth rate of wages, which turned out to be the lowest between March and May. This suggests a weakening inflationary pressure, which can also strengthen discussions on lowering interest rates without fears of a sharp inflation jump. According to the data, the unemployment rate was 3.8%, and unemployment among women...

The supporters of the single European currency hope that the signing of a trade deal between Washington and Beijing will help to restore the eurozone economy, however, data on the business activity of the currency block for December showed that it is too early to talk about it. On the other hand, the fans of the dollar are dreaming of continuous economic expansion and new highs of the S&P 500 index. But unfortunately, no matter how strong the stock market, the inversion of the yield curve of the treasuries still leads to a recession, which could be seen, for example, twelve years ago. Meanwhile, the PMI in the manufacturing sector in Germany amounted to 43.4 points in December against 44.1 points recorded in November. This was the first reduction in the indicator over the past three months. Its European counterpart is declining for the eleventh consecutive month. At the same time, the modest value of the composite PMI index of 50.6 indicates that the economy of the currency block...

The quotes for Brent and WTI futures soared to September highs, thanks to the OPEC + agreement, the willingness of the United States and China to sign a Phase 1 trade deal, positive macroeconomic statistics on the Celestial Empire and the victory of the Conservative Party in the parliamentary elections in Britain. The last time the variety of North Sea was above $ 65 per barrel was during the attacks on Saudi Arabia, and if it was a shock during the first half of autumn, then now, it is a set of events that is quite logical from the point of view of fundamental analysis. Let investors doubt that an increase in OPEC + liabilities from 1.2 to 1.7 million b / s will be able to ensure stable price increases, however, according to the cartel itself, the agreement will balance the market in 2020. In addition, the Organization of Petroleum-producing Countries, and the IEA believe that the decline in international trade has reached a low point. The deal on the extension of the Vienna agreemen...

On Monday, positive data on the economies of China and the US which were published support the increasing demand for stocks of companies, but do not help the US dollar. So what is the reason and what should be expected from the market before the end of this year? Indeed, the actual data on industrial production in annual terms for the month of November, which were presented yesterday, turned out to be noticeably higher than expected. Industrial production grew by 6.2% from 4.7%, while an increase of 5.0% was assumed. In addition, the growth in retail sales turned out to be positive, which added 8.0% year-on-year in November against 7.2% and expectations for an increase of 7.6%. At the same time, the values of American statistics were also looking good. The index of business activity (PMI) in the services sector grew to 52.2 points in December against the November value of 51.6 points and expectations of an increase to 52.0 points. Markit’s Composite Business Activity Index (PMI) adde...

Trend analysis (Fig. 1). On Tuesday, the price may continue to move down with the first target 1.3147 which is the retreating level of 23.6% presented in a red dotted line. If successful, the next lower target is 1.3050 which is the lower fractal. Fig. 1 (daily chart). Comprehensive analysis: - Indicator analysis - down; - Fibonacci levels - down; - Volumes - down; - Candlestick analysis - down; - Trend analysis - down; - Bollinger Lines - down; - Weekly schedule - down. General conclusion: On Tuesday, the price will continue to move down. Another scenario is unlikely but possible. That is, to the level of 1.3147 which is a retracement level of 23.6% presented in a red dashed line, work down, to achieve this level, work up with the first goal 1.3350 the historical resistance level presented in a blue dashed line. The material has been provided by InstaForex Company - www.instaforex.com via Indicator analysis: Daily review on December 17, 2019, on GBP / USD currency pair...

Apparently, the pound continued to be impressed yesterday by the results of the early parliamentary elections, and banally ignored basic macroeconomic statistics. Nevertheless, if you look at this very statistics, the pound should have been reduced. After all, all indices of business activity showed a decline. In addition, it is still an extremely unpleasant call even if we are talking about preliminary data. Thus, the index of business activity in the services sector decreased from 49.3 to 49.0, while they expected growth to 49.8. Meanwhile, the manufacturing business activity index fell from 48.9 to 47.4, instead of growing to 49.5. As a result, the composite business activity index did not grow from 49.3 to 49.7, but decreased to 48.5. Therefore, the pound had clearly no reasons for optimism. So does British business. Composite Business Activity Index (UK): At the same time, it had a reason to decline, since preliminary data on business activity indices in the United States wer...

Trend analysis (Fig. 1). On Tuesday, the price may continue to move up with the first target 1.1159 which is the upper fractal. If it is achieved, the continuation of work upwards with the target 1.1201 is the next upper fractal. Fig. 1 (daily chart). Comprehensive analysis: - Indicator analysis - up; - Fibonacci levels - up; - Volumes - up; - Candlestick analysis - down; - Trend analysis - up; - Bollinger Lines - up; - Weekly schedule - up. General conclusion: On Tuesday an upward movement is possible. The price may continue to move upward with the target 1.1201 which is the upper fractal presented in a red dashed line. An unlikely scenario is possible, that is, from a pullback level of 1.1146 presented in a blue dashed line, the price will go down to the lower target 1.1091 a pullback level of 50.0% presented in a red dashed line. The material has been provided by InstaForex Company - www.instaforex.com via Indicator analysis: Daily review on December 17, 2019, on EUR...

US stock indices reached new record highs after confirming the deal between the US and China, S&P managed to add 27% since the beginning of the year, and NASDAQ grew by 33%. Moreover, the results of the elections in the UK also contributed to reducing uncertainty, and as a result of which, the demand for profitable assets is growing, while bonds are being actively sold. At the same time, euphoria regarding a trade transaction may turn out to be temporary. In essence, progress is only in the fact that new tariffs have not been put into effect, however, the key contradictions have not been removed. Thus, clarity may come on Friday. Optimism is likely to continue until this time. NZD/USD New Zealand’s macroeconomic indicators look confident, and some slowdown in growth has not led to a change in the overall picture. Moreover, Westpac notes the highest level of consumer sentiment since Q1 in 2018, RBNZ sees the level of business optimism at the highest since October 2017, and ANZ no...

EUR/USD Analysis: The upward wave of the euro since the beginning of September forms the main direction of the price movement. Its last section on November 14 ran into strong resistance. From it, the price rolls down. The rollback structure does not show completeness. Forecast: Today, the movement is expected to continue in the sideways price corridor between the counter zones. In the first half of the day, the price rise is more likely. By the end of the day, you can expect a change in the movement vector and a decline to the support zone. Potential reversal zones Resistance: - 1.1170/1.1200 Support: - 1.1110/1.1080 Recommendations: Today, trading in the euro market is possible within the intraday according to the expected sequence. A lot more sensible to reduce. In the support area, it is recommended to monitor the signals of completion of the correction to find the entry into long positions. AUD/USD Analysis: The short-term rate of Aussie quotes is directed towards th...

Following the British pound, the euro rose on several events: 1. Strong victory for the Conservatives in Britain and clear Brexit prospects 2. Positive conclusion of the Trump-China trade deal (phase 1) 3. Fed’s soft stance on rates However, the market went to the correction since the strength of the euro buyers was not enough to consolidate above 1.1200 Nevertheless, growth is not broken. EUR/USD We are waiting for a new hike to 1.1200 and consolidation above this level. Keep purchasing at 1.1035 Possible purchases with a breakthrough at 1.1200 and up The material has been provided by InstaForex Company - www.instaforex.com via Trading plan on EUR/USD for December 17, 2019. The Euro keeps growing.

The minutes of the RBA December meeting published during the Asian session put pressure on the Australian dollar. Details of the central bank’s final meeting this year were not as encouraging as it seemed. Let me remind you that the aussie strengthened by more than a hundred points at the end of this meeting, developing large-scale corrective growth. However, sellers seized the initiative this week: a negative economic forecast from the Australian government was published on Monday, and today the dovish minutes of the last RBA meeting. On Thursday, December 19, another release is expected, which may put additional pressure on AUD/USD - we will find out data on the growth of the Australian labor market. If all fundamental factors converge against the Australian dollar, then the pair may soon return to the framework of the 67th figure. Let me remind you that the December meeting of the Reserve Bank of Australia took place just a day before the publication of key data on the country’s e...

Trading Recommendation Entry: 0.68540 Reason for Entry: 61.8% Fibonacci retracement, 61.8% fibonacci extension, horizontal pullback support Take Profit : 0.69297 Reason for Take Profit: horizontal swing high resistance Stop Loss: 0.68321 Reason for Stop loss: 78.6% Fibonacci retracement, horizontal pullback support The material has been provided by InstaForex Company - www.instaforex.com via AUD/USD approaching support, potential bounce!

Trading Recommendation Entry: 1.3233 Reason for Entry: 38.2% Fibonacci retracement, horizontal pullback support, 100% extension, breakout level Take Profit : 1.35915 Reason for Take Profit: 100% extension Stop Loss: 1.30193Reason for Stop loss: 61.8% Fibonacci retracement, Horizontal pullback support The material has been provided by InstaForex Company - www.instaforex.com via GBP/USD approaching support, potential bounce!

Trading Recommendation Entry: 109.953 Reason for Entry: 100% Fibonacci extension Take Profit : 107.898 Reason for Take Profit: horizontal swing low support 50% Fibonacci retracement Stop Loss: 110.654 Reason for Stop loss: horizontal swing high resistance The material has been provided by InstaForex Company - www.instaforex.com via USD/JPY approaching resistance, potential drop!

When the European market opens, some economic reports will be released such as Trade Balance and Italian Trade Balance. The US will also publish the economic data such as IBD/TIPP Economic Optimism, JOLTS Job Openings, Industrial Production m/m, Capacity Utilization Rate, Housing Starts, and Building Permits, so amid the reports, the EUR/USD pair will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.1192. Strong Resistance: 1.1186. Original Resistance: 1.1175. Inner Sell Area: 1.1164. Target Inner Area: 1.1138. Inner Buy Area: 1.1112. Original Support: 1.1101. Strong Support: 1.1090. Breakout SELL Level: 1.1084. (Disclaimer)The material has been provided by InstaForex Company - www.instaforex.com via Technical analysis: Important Intraday Levels For EUR/USD, December 17, 2019

To open long positions on EURUSD you need: The situation is identical to the last day and the technical picture has not changed. Data on manufacturing activity in the US and business activity in the service sector did not affect the greenback in any way, even though it turned out to be quite acceptable. At the moment, buyers of the euro can still count on the level of 1.1111. However, now, when a false breakout forms in the region of this range, this will be a signal to buy the euro. In case there is a breakout of 1.1111 in the morning, after a weak report on the balance of the balance of foreign trade of the eurozone, and other important data are not released today, then it is best to count on purchases from a low of 1.1073, or immediately buy on a rebound from 1.1041. The more important task of the bulls will be to consolidate above the resistance of 1.1153, around which it had traded all day just yesterday. Its breakthrough will lead to an upward correction of EUR/USD to the area o...

To open long positions on GBP/USD you need: Yesterday’s report on a decrease in business activity in the service sector, as well as the uncertainty of the Brexit deal are forcing buyers to take profits on the pound. However, in general, the current downward correction still does not jeopardize the upward trend formed at the beginning of this month. The bulls need a return to the resistance of 1.3316, which will increase the demand for the pound and lead to a larger upward correction in the area of 1.3378 and 1.3450. Yesterday I paid attention to support at 1.3265, which performed its function. The formation of a false breakout on it in the morning, along with good data on the UK labor market will be a good signal to open long positions in GBP/USD. Under the scenario of further downward correction, the bulls will begin to act more at lows of 1.3218 and 1.3164, where an attempt will also be made to build the lower boundary of the upward price channel to continue the pound’s growth. To ...

In Asia, Japan will not release any economic reports today, while the US will publish some economic data such as IBD/TIPP Economic Optimism, JOLTS Job Openings, Industrial Production m/m, Capacity Utilization Rate, Housing Starts, and Building Permits. So there is a probability the USD/JPY pair will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Resistance.3 : 110.13. Resistance. 2: 109.91. Resistance. 1: 109.67. Support. 1: 109.42. Support. 2: 109.21. Support. 3: 108.993. (Disclaimer) The material has been provided by InstaForex Company - www.instaforex.com via Technical analysis: Important Intraday Levels for USD/JPY, December 17, 2019

EUR/USD As a result of Monday, the euro grew by 21 points. At the moment, the price reached the Fibonacci line of 110.0% on the daily chart, from which it retreated. Eurozone business activity indices for December came out mixed: Services PMI grew from 51.9 to 52.4, Manufacturing PMI fell from 46.9 to 45.9. The situation was similar in the US: Services PMI grew from 51.6 to 52.2, Manufacturing PMI fell from 52.6 to 52.5. Today, more important data will come out: the eurozone trade balance for October is expected to grow from 18.3 billion euros to 19.7 billion. US industrial production may show an increase of 0.8% in November, the forecast for US housing starts in November is 1.34 million against 1.31 million in October. The technical neutrality of the euro may move down due to these data. The first significant goal is the price channel line on the daily chart in the area of 1.1062. A decrease in prices by 30-40 points will form the already emerging divergence on the Marlin oscillator....

GBP/USD The British pound is down for the second day after its extreme growth on Friday. Western media suddenly became worried about the Brexit conditions and the options for the upcoming trade agreement with the United States, which confirmed our assertion about the speculative growth of the pound. Against this background, weakened PMIs seemed almost like a “collapse of hope”; in the manufacturing sector, PMI fell from 48.9 to 47.4 in December; in the service sector, it fell from 49.3 to 49.0 against the forecast for an increase in both indicators. Employment data will be released today in the UK; unemployment is expected to rise from 3.8% to 3.9%. We are waiting for the price reduction to the Fibonacci level of 200.0% (1.3206). Consolidation under the level will open the way to the target range of 1.3012/50, formed by the extremes on October 21 and December 12. The MACD line of the daily scale is striving in this range. On the H4 chart, the price is struggling with the support of ...