Market News by FXB Trading

[raniya]

Data on demand for durable goods are due at 14:30 (GMT+2). The indicator is expected to grow to 1.0% in August from -6.8% a month earlier. The index demonstrates changes in the prices for durable goods including vehicles that have been in use for over 3 years. The growth of demand is a positive signal for the economy. The fall of demand indicates slower rate of economic growth. High values strengthen USD.

[raniya]

 

The data on German retail sales are due at 08:00 (GMT+2). The indicator is expected to grow to 0.5% in August from -1.2% a month earlier. On year-on-year basis, the indicator is expected to grow to 3.2% in August from 2.7% a month earlier. The indicator shows changes in the volumes of sales in retail trade. The growth of the indicator is a positive factor for the national economy and strengthens EUR.
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[raniya]

EUR/USD: growth may continue

On Thursday the pair moved up from the level of 1.1720 (main Murrey support level [0/8]) and is currently driven towards 1.1840 (Murrey level [1/8]).

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[raniya]

USCrude
WTI Crude Oil: general analysis

Since the beginning of the week the WTI crude oil price has been falling, and now the instrument is trading around key psychological level of 50$ per barrel. Yesterday the EIA Crude Oil Stocks change report was published, which reflected the decrease of the recourses by 6.023 million barrel. On the other hand, the recourses of Cushing, Oklahoma, which is the largest oil market influence center in the USA, grew from 60.9 to 62.5 million barrel. In addition, the oil production in the USA grew to 9.561 million barrel per day in a week, and the total volume of oil and petroleum products export grew by more than 1 million to the record level of 7.02 million barrel per day.

[raniya]

EUR/JPY: Ichimoku clouds

 

 

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (131.90). The closest resistance level is Tenkan-sen line (132.30).

 

 

 

 

[raniya]

EUR/USD: mixed dynamics in the end of the week

During the trading session on Thursday, October, 12, European currency fell against the US dollar, stepping back from the maximum of September, 25. The downward trend is due to the positive US Initial Jobless Claims data and Producer Price Index, which let the investors hope that Friday’s Consumer Price Index will be strong.

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[raniya]

Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is going to reverse from descending to ascending. The instrument has broken through the cloud and is still rising. The closest support level is the upper border of the cloud (17.07). One of the previous maximums of Chikou Span line is expected to be a resistance level (17.13).

[raniya]

GBP/USD: upward trend maintains

Upward momentum of the pair maintains, in the end of the trading week it strengthened due to growth of demand on the British currency.

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[raniya]

Brent Crude Oil: general analysis

Brent oil price is growing after the news that yesterday during the OPEC meeting the world oil production level limitation agreement was prolonged by 9 more months.

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[raniya]

FTSE: technical analysis
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains just below its moving averages that start turning down. The RSI is growing, having failed its strong support just above the border of the oversold zone. The Composite is testing from below its longer MA.
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[raniya]

Bitcoin: general analysis
Bitcoin is growing and renewing historical highs.
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[raniya]

XAU/USD: Fibonacci analysis

In the H4 chart the price has been showing a downward trend for the second week in a row. By now it has tested the level of 1255.70 and, according to MACD histogram that is increasing in the negative zone and Bollinger Bands directed downwards, it ready to continue reduction. In case of reversal the price may be corrected to the middle line of Bollinger Bands at 1266.00 (correction by 23.6%).

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[raniya]

USD/CHF: general analysis

Yesterday USD was growing against all the main currencies, including franc, despite of the fall of the Swiss unemployment level to 3.0%. US Initial Jobless Claims number reached 236K, which is less than expected by 4K,and less than in the previous month by 2K. The low indicator reflected the strength of employment market and supported USD.

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[raniya]

EUR/USD : ZEW Survey. Germany

At 12:00 (GMT+2), the index of sentiment in the business environment of the ZEW Institute will be published. It is forecasted that the figure will decrease to 17.4 points in December from 18.7 points a month earlier. The indicator is calculated by the Center for Economic Research (ZEW) based on a survey of leading financial experts in Europe. Experts give their assessment of the current economic situation in Germany. A positive result signals a positive view of experts on the economy and strengthens the EUR. Values below expectations are indicative of pessimistic estimates of the economy and weaken the EUR.

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[raniya]

USD/CHF: general analysis

On Thursday, USD grew against Swiss franc due to the waiting of the Fed’s interest rate decision. Fed is expected to increase the rate by 0.25%, which will reflect the “hawkish” mood of the regulator upon the inflation and strengthen the dollar.

[raniya]

SCrude
 

WTI Crude Oil: general analysis
WTI prices went down by 1.25% to the area of the level of 56.70 after EIA Crude Oil Stocks change publication, which showed the decrease of resources by 7.382 million barrel in a week, but the production level increased by 73K barrel to the record level of 9.78 million barrel per day.

[raniya]

AUD/CAD: Ichimoku clouds
Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. The closest support level is the upper border of the cloud (0.9777). The closest resistance level is Tenkan-sen line (0.9808).

 

[raniya]

EUR/USD
Consumer price index. Eurozone

At 12:00 (GMT+2), the consumer price index will be published in the Eurozone. The index is the key indicator of inflation in the Eurozone and reflects the change in the value of the "basket" of goods and services over the period. The growth of the indicator leads to an increase in the EUR exchange rate. Decrease in the indicator leads to the depreciation of the EUR.

[raniya]

Gold
XAU/USD: technical analysis
On the daily chart, the instrument is correcting up towards the middle MA of the Bollinger Bands. The price remains just below its moving averages that are horizontal. The RSI is testing from below its longer MA, having bounced off the border of the oversold zone. The Composite is growing.

 

[raniya]

AUD/USD: the pair is trading in the flat
Australian dollar showed moderate growth against US dollar during yesterday’s trading but then moved back to the opening level in view of the release of optimistic macroeconomic data from the USA.

 

[raniya]

USD/CAD: the pair is developing upward dynamics

US dollar dropped considerably against Canadian currency, marking a new local minimum since December 6. The reason for the development of “bearish” tendencies was general weakening of the US currency in view of resumed reduction of returns on US bonds as well as the release of uncertain macroeconomic statistics from the USA. In turn, Canadian Thursday statistics was above expectations which caused the increase of demand for CAD.

 

 

[raniya]

XAG/USD: silver is trading in positive territory
Silver prices showed moderate growth in trading on Tuesday, December 26, and during the morning session on December 27 managed to update the local maximum since the end of November.

[raniya]

USD/JPY
Retail Sales. Japan

Japanese retail sales data will be published at 01:50 (GMT+2). The indicator is expected to grow to 1.2% in November from -0.2% a month earlier. On monthly basis the indicator will remain unchanged at the level of 0.0%. It reflects changes in the volumes of sales in major retail stores. The growth of the indicator shows an uptake of consumption and has a positive impact on the economy. The decrease of it shows an economic fall and is a negative factor. A high value of the indicator strengthens JPY, and a low one weakens it.

[raniya]

EUR/USD: wave analysis
The trend is upward.

On the 4-hour chart the fifth wave 5 is forming as a diagonal triangle within the first wave 1 of the higher level. At the moment the third wave iii of 5, within which the wave (c) of iii is forming, is developing. If the assumption is correct, the pair will grow to the level of 1.2110. The level of 1.2000 is critical for this scenario.

[raniya]

The historical importance of January in the financial markets

On Jan 7 1901, New York Stock Exchange (NYSE) reported that trading had exceeded 2 million shares for the first time in history. The first week of 2018 has seen a continuation of last year's bull run with the Dow Jones index breaking 25,000 for the first time ever, which follows MSCI's world index and London's FTSE both set records in Europe. Tokyo's Nikkei – Asia's biggest market – had earlier shot to its highest since 1991.

January 10, 2000 marked what is considered the peak of the dot-com boom when America Online (pioneer of dial-up Internet access and an investors favourite) announced plans to merge with Time Warner, the world's largest media company and the largest merger in history at that time. Within two years it was described as the worst deal in history which ended up driving out both CEOs who made the deal and resulted in AOL being dropped from the AOL Time Warner name. Within 32 months the NASDAQ Composite fell 78% from its peak of 5132.52.

Investment in cryptocurrencies has been compared to the dot-com boom because of the rapid acceleration of their prices. Since January 2017 Bitcoin has soared from just under $1000 to $20,000 and is currently around the $15,000 mark. But while Bitcoin's drop in performance has dropped of late this hasn't affected the overall market capitalization for cryptocurrencies which just passed $700 billion.