InvestMacro

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after completing the correction not far from 23.6% fibo, GBPUSD is moving downwards and has already broken 38.2% fibo. Later, the market may continue trading downwards to reach 50.0% and 61.8% fibo at 1.3463 and 1.3277 respectively. The resistance remains the same, 1.4250. The asset may reach this level but only after testing 61.8% fibo at 1.3277.

The H1 chart shows a potential of the current correction after convergence on MACD and a breakout of the post-correctional extension area. The first rising wave is heading towards 23.6% fibo at 1.3651, while the next ones may reach 38.2%, 50.0%, and 61.8% fibo at 1.3701, 1.3741, and 1.3781 respectively. The support is the low at 1.3572.

EURJPY, “Euro vs. Japanese Yen”

In the H4 chart, after breaking 38.1% fibo, EURJPY has returned to it, probably due to convergence on MACD. However, so far this movement should be considered as a short-term pullback and the market may later resume falling to reach and test 50.0% fibo at 127.87. After that, the instrument may reverse and start a wave to the upside towards the high at 134.12.

As we can see in the H1 chart, the asset is forming a pullback and testing 23.6% fibo at 129.56. The next rising wave may reach 38.2%, 50.0%, and 61.8% fibo at 130.16, 130.65, and 131.13 respectively. On the other hand, a breakout of the low at 128.60 will lead to a further mid-term downtrend.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.1797
• Prev Close: 1.1780
• % chg. over the last day: -0.14%

The fundamental picture on the EUR/USD currency pair plays in favor of the growth of quotes, but the dollar index, which has an inverse correlation, is slowly growing, which has a negative impact on the euro.

Trading recommendations

• Support levels: 1.1746, 1.1609
• Resistance levels: 1.1783, 1.1834, 1.1879, 1.1934, 1.1969

From the technical point of view, the trend is still bearish. But it should be noted that sellers’ pressure gets weaker because each next downward break updates the price minimum very insignificantly. And that demonstrates the weakness of the sellers. On the other hand, there is no initiative from the buyers either. With a high probability, till the ECB meeting, which will take place tomorrow, the situation will remain unchanged. Under such market conditions, traders should look for intraday deals because there are no optimal entry points on the H1 timeframe right now.

Alternative scenario: if the price breaks through the 1.1879 resistance level and fixes above, the general uptrend is likely to be resumed.

There is no news feed for today.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3773
• Prev Close: 1.3628
• % chg. over the last day: -1.06%

The British pound, unlike the euro, is falling steadily. The following factors put pressure on the GBP/USD quotes: 1) falling oil prices (the UK is the largest exporter of Brent oil), 2) there is an open issue of trade relations between the UK and the European Union, 3) increase in the number of disease cases after the lifting of restrictions. On the other hand, more than 52% of the UK adult population has already been fully vaccinated, with nearly 68% receiving the first dose of vaccine. The number of deaths decreased by almost 10 times. Considering the full opening of the economy, the prospects for economic growth in the country are huge, which will undoubtedly affect the strengthening of the course.

Trading recommendations

• Support levels: 1.3614, 1.3525
• Resistance levels: 1.3745, 1.3805, 1.3899, 1.3923, 1.4002, 1.4075, 1.4101

On the hour timeframe, the trend on the GBP/USD currency pair is strictly downward. The MACD indicator went into the negative zone, but there is a divergence on the H1 and H4 timeframes. Under such market conditions, traders are better to look for both sell deals from the resistance levels within the trend and buy deals from the support levels, but only on the intraday timeframes and with short targets.

Alternative scenario: if the price breaks through the 1.3899 resistance level and consolidates above, the bearish scenario is likely to be canceled.

There is no news feed for today.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 109.39
• Prev Close: 109.85
• % chg. over the last day: +0.42%

The USD/JPY currency pair began to show signs of reversal. Amid a slight strengthening of Tokyo’s Nikkei 225 index, the futures on the Japanese yen slightly declined, which, together with the rise in the dollar index, led to an increase in the USD/JPY quotes. By the end of the week, the USD/JPY will correlate even more with the dollar index, as there will be a bank holiday in Japan.

Trading recommendations

• Support levels: 109.70, 109.19, 108.65
• Resistance levels: 110.41, 110.73, 111.06, 111.48, 110.73, 112.18

From the point of view of technical analysis, the situation has not changed. There is a downward trend on the H1 timeframe, as the price is still trading below the priority change level and the moving average. The MACD indicator has returned to the positive zone. Under such market conditions, traders should look for both selling from the resistance levels and buying from the support levels, but only with short targets.

Alternative scenario: if the price rises above 110.41, the uptrend is likely to be resumed.

There is no news feed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2740
• Prev Close: 1.2679
• % chg. over the last day: -0.48%

Yesterday, the USD/CAD currency pair slightly corrected after a 4-day rally. There is a large inverse correlation observed between oil and USD/CAD, and it is not surprising since the Canadian dollar is a commodity currency. The US crude oil inventories data will be released today. An increase in oil prices will have a positive effect on the Canadian futures while the USD/CAD will decrease. Conversely, a drop in oil prices will continue the upward trend in the USD/CAD.

Trading recommendations

• Support levels: 1.2649, 1.2561, 1.2519, 1.2448, 1.2404, 1.2347, 1.2312
• Resistance levels: 1.2787, 1,2951

Technically, the trend remains bullish. The sellers finally showed initiative at the 1.2787 resistance level. The MACD indicator has become inactive. Under such market conditions, it is better to trade intraday. Buy positions should be looked for at the nearest support levels, but it is better to buy when there is a confirmation. There are no optimal entry points for sell positions right now.

Alternative scenario: if the price breaks through the 1.2561 support level and fixes below, the downtrend is likely to be resumed.

There is no news feed for today.

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

by JustForex

The US stock indices closed in the green zone yesterday. All three indices increased steadily at the end of the day. The biggest gain was shown by Dow Jones, which increased by 1.62%. The S&P 500 added 1.52% and the Nasdaq increased by 1.57%. Optimism has returned to the markets a little, but the situation is still uncertain. On the one hand, many economies are showing good signs of recovery. On the other hand, a new wave of coronavirus could slow these growth rates and lead to new lockdowns. In the meantime, investors are looking for profitable opportunities in stock markets, as there are practically no investment alternatives today. As long as the Fed’s monetary policy remains unchanged, indices will continue to rise. But in August, there will be a new meeting of the Fed, and traders should be very careful, because firstly, the Fed is going to cut the QE program, and secondly, August and September are statistically very weak months for the indices.

The European stock market ended Tuesday’s trading on the positive side, despite the rise in the Delta strain cases in Europe. Yesterday, the spokesperson of the French government, Gabriel Attal, said that it’s the fourth wave of the COVID-19 pandemic in their country. The UK government lifted all domestic restrictions related to the coronavirus starting from Monday. The UK Prime Minister Boris Johnson said that he intends to require nightclubs and event organizers in England to allow only fully vaccinated visitors in from the end of September.

The American Petroleum Institute (API) data, published on Tuesday, indicated an increase in crude oil stocks by 806,000 barrels in the US over the previous week. This is another reason why oil quotes started to decline, and supply started to catch up with demand. Japan, which is the world’s 4th largest importer of oil, cut oil imports by 1.2% in annualized terms. The US crude oil weekly inventories data will be released today. Increased reserves can lead to a further decrease in oil quotes.

The price of gold and silver is highly correlated (inverse correlation) with the US Treasury bond yields. Yesterday, government bond yields increased in price, which caused the fall of gold. But the current US monetary policy has a negative effect on the government bond yields. That’s the reason why investors are confident that the prices for precious metals will continue to rise, at least until the Fed meeting in August.

Yesterday, the deputy governor of the Bank of Japan said that the economy might grow faster than expected if the coronavirus vaccination accelerates. But the current situation in Tokyo, which is hosting the Olympics, shows that the number of infection cases has increased, forcing the government to declare a state of emergency in the city and impose new restrictions. On the other hand, Japan’s exports have been increasing for four months in a row. The shipment of transport equipment abroad increased by 68.1%. The export of semiconductor components increased by 24.7%, machinery – by 42%, steel and steel products – by 73%. This indicates a gradual recovery in global trade.

Main market quotes:

S&P 500 (F) 4,323.06 +64.57 (+1.52%)

Dow Jones 34,511.99 +549.95 (+1.62%)

DAX 15,216.27 +83.07 (+0.55%)

FTSE 100 6,881.13 +36.74 (+0.54%)

USD Index 92.96 +0.07 (+0.08%)

• – Japan Monetary Policy Meeting Minutes at 02:50 (GMT+3);
• – Australia Retail Sales (m/m) at 04:30 (GMT+3);
• – US Crude Oil Inventories (w/w) at 17:30 (GMT+3).

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the asset is still trading upwards. After forming several reversal patterns, such as Engulfing, not from the support level, XAUUSD may reverse and start a new growth to reach the resistance area at 1850.00. At the same time, an opposite scenario implies that the price may correct towards 1800.00 before resuming its ascending tendency.

NZDUSD, “New Zealand vs US Dollar”

As we can see in the H4 chart, the descending impulse continues. By now, NZDUSD has formed several reversal patterns, such as Harami and Engulfing, close to the resistance level. At the moment, the asset is reversing. In this case, the downside target is the support area at 0.6845. After testing this level, the asset may break it and continue moving downwards. However, an alternative scenario implies that the price may correct towards 0.6980 before resuming its decline.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the asset is still trading within the downtrend. By now, GBPUSD has formed several reversal patterns, such as Hammer, not far from the support area. At the moment, the pair may reverse and start a new correction towards the resistance level. In this case, the upside target may be at 1.3777. After testing this level, the market may rebound from it and resume falling. Still, there might be an alternative scenario, according to which the asset may continue falling towards the support area at 1.3610 without any significant corrections.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has reached the “oversold area”. In this case, the price is expected to rebound from 0/8 and then correct upwards to reach the resistance at 2/8. However, this scenario may be canceled if the price breaks 0/8 to the downside. After that, the instrument may reverse and fall towards the support at -2/8.

In the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume the ascending tendency only after rebounding from 0/8 from the H4 chart.

NZDUSD, “New Zealand Dollar vs US Dollar”

In the H4 chart, NZDUSD is trading below the 200-day Moving Average to indicate a descending tendency. In this case, the price is expected to break 1/8 and then continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. In this case, the instrument may grow towards the resistance at 3/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.1802
• Prev Close: 1.1798
• % chg. over the last day: -0.03%

The ECB has slightly reduced the pace of asset purchases, while the US Fed, on the contrary, started buying assets more aggressively, despite talks about possible cuts in the QE program. Taking into account that there is no acceleration in inflation in Europe, this situation plays in favor of a stronger euro.

Trading recommendations

• Support levels: 1.1788, 1.1746, 1.1609
• Resistance levels: 1.1834, 1.1879, 1.1934, 1.1969

From the technical point of view, the trend is still bearish. Yesterday, the price broke through the lower border of the range and started to decline. But at the American session, there was a return back on the impulsive move. As a result, a false breakdown zone was formed, from which the buyers may look for buy deals, but only with short targets, as it will be trading against the trend. The MACD indicator is inactive. There are no optimal entry points for sell positions now.

Alternative scenario: if the price breaks through the 1.1879 resistance level and fixes above, the general uptrend is likely to be resumed.

There is no news feed for today.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3767
• Prev Close: 1.3675
• % chg. over the last day: -0.67%

The GBP/USD currency pair decreased sharply yesterday. This situation with the British currency was a surprise for traders, as there are no fundamental reasons for the pound to fall. The monetary policy remains unchanged, the economy is opening after the quarantine restrictions. But there is a slight acceleration in inflation.

Trading recommendations

• Support levels: 1.3614
• Resistance levels: 1.3690, 1.3756, 1.3805, 1.3899, 1.3923, 1.4002, 1.4075, 1.4101

The trend of the GBP/USD currency pair is bearish on the H1 timeframe. The MACD indicator went into the negative zone with no signs of reversal. Under such market conditions, traders are better to look for sell positions from the resistance levels. There are no optimal entry points for buy positions now, as buyers do not show initiative.

Alternative scenario: if the price breaks through the 1.3899 resistance level and consolidates above, the bearish scenario is likely to be canceled.

There is no news feed for today.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 110.01
• Prev Close: 109.45
• % chg. over the last day: -0.51%

The Japanese yen futures strengthened yesterday, which caused a decline in the USD/JPY currency pair by 0.51% (inverse correlation). Even the rise in the dollar index could not affect the strengthening of the Japanese yen, which suggests that the Japanese economy is recovering. At the same time, the stock indices in Japan declined yesterday. The national consumer price index remained unchanged at 0.3%, but the core CPI increased by 0.2% in annualized terms.

Trading recommendations

• Support levels: 109.19, 108.65
• Resistance levels: 109.70, 110.41, 110.73, 111.06, 111.48, 110.73, 112.18

From the point of view of technical analysis, the situation has not changed. There is a downward trend on the H1 timeframe, as the price is still trading below the priority change level and the moving average. The MACD indicator is in the negative zone with no signs of reversal. Under such market conditions, traders are better to look for sell positions from the resistance levels on intraday timeframes. Buy positions should be considered from support levels, but only with short targets.

Alternative scenario: if the price rises above 110.41, the uptrend is likely to be resumed.

News feed for 2021.07.20

• – Japan National Consumer Price Index (m/m) at 02:30 (GMT+3).

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2604
• Prev Close: 1.2746
• % chg. over the last day: +1.12%

The USD/CAD currency pair added another 1.12% yesterday. The growth was caused by two factors: the dollar index and the oil prices. The dollar index is slowly growing, while oil prices just declined yesterday, which negatively affects the CAD.

Trading recommendations

• Support levels: 1.26481, 1.2561, 1.2519, 1.2448, 1.2404, 1.2347, 1.2312
• Resistance levels: 1.2787, 1,2951

Technically, the trend remains bullish. The price is growing steadily, and there isn’t significant resistance from the sellers. The MACD indicator is in the positive zone with no signs of reversal. Under such market conditions, it is better to consider intraday trading. Traders should look for buy positions from the support levels after a small pullback, as resistance levels are ahead and the price quite strongly deviates from the midline. There are no optimal entry points for sell positions right now.

Alternative scenario: if the price breaks through the 1.2561 support level and fixes below, the downtrend is likely to be resumed.

There is no news feed for today.

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

by JustForex

Last week, the number of new cases in the US increased by 70% compared to the previous week and the number of deaths increased by 26%, with outbreaks occurring mostly in those parts of the country where the vaccination rates are the lowest. Such numbers are very negative for both stock indices and commodity markets. All three major US stock indices closed the session with sharp declines, with the S&P 500 and Nasdaq experiencing their biggest one-day percentage drop since mid-May. And for the Dow Jones index, it was the worst day for the last nine months. The US Treasury yields also fell, which caused a decline in the stocks of the banking sector. On the other hand, everybody knew that the stock market was “overheated” and needed a fresh breath in the form of a correction movement. Now it is important to watch whether the positive quarterly reports of the companies will be able to renew the growth of the stock indexes. If this does not happen, the correction can be much stronger.

European stock indices also closed the trading day in the red zone. British FTSE 100 lost 2.34%, German DAX decreased by 2.62%, French CAC 40 lost 2.54%, Italian FTSE MIB decreased by 3.34%, and Spanish IBEX 35 – by 2.4%. The decline was observed in almost all sectors of the economy. The floods in the central part of Europe, which started in the middle of last week due to heavy rains, made the general situation even worse. The number of daily COVID-19 cases in the UK increased sharply after most of the restrictions were lifted on Monday.

Oil prices decreased almost by 8% yesterday. There are two reasons for such a precipitous drop. The first reason is that the OPEC+ countries agreed to increase the daily oil production to the pandemic level (the supply started to catch up with the demand). The second reason is that new outbreaks of COVID-19 also continue to darken fuel demand prospects, as some countries reintroduce isolation measures.

Gold and silver prices jumped amid falling stock indices and the declining US government bond yields. The fundamental picture for precious metals is in favor of higher prices now. But as soon as the Fed starts cutting stimulus, there will be a decrease in the gold and silver market.

Asia-Pacific stock indices also fell sharply yesterday. The Delta strain of COVID-19 is taking a significant toll on the economic recovery of the region. Japan’s Nikkei 225 Index hit a six-month low yesterday. In its turn, China’s blue-chip index CSI300 remained unchanged. The People’s Bank of China kept the benchmark interest rate on loans unchanged. In Australia, about half of the population is living under quarantine to quell an outbreak of the Delta strain. Earlier this month, the Reserve Bank of Australia (RBA) announced that it would cut bond purchases starting from September. But today at the RBA meeting, the issue was raised that the RBA could cancel its decision to reduce QE if Sydney remains in lockdown until August, as seems likely.

Main market quotes:

S&P 500 (F) 4,258.49 -68.67 (-1.59%)

Dow Jones 33,962.04 -407.11 (-2.62%)

DAX 15,133.20 -407.11 (-2.62%)

FTSE 100 6,844.39 -163.70 (-2.34%)

USD Index 92.84 +0.15 (+0.16%)

• – Japan National Consumer Price Index (m/m) at 02:30 (GMT+3);
• – Australia RBA Meeting Minutes at 04:30 (GMT+3);
• – China PBoC Loan Prime Rate at 04:30 (GMT+3);
• – US Building Permits (m/m) at 15:30 (GMT+3).

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

By Lukman Otunuga Research Analyst, ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

July 19, 2021

Belize City, Belize

RoboForex, an international financial broker, announces the start of the promotion for its clients and partners to celebrate the company’s 11th birthday. The promotion will last from July 2021 to April 2022. The total prize pool is $1,100,000.

Each month, 54 money prizes for the total sum of $110,000 will be given away. The prizes will be distributed among owners of special Coupons, which can be received for trading on RoboForex accounts and attracting new clients to the company as a partner. One can receive up to three Coupons in all categories per month.

Robert Stephenson, Chief Business Officer at RoboForex, is commenting: “Last year was our first experience in launching such a promotion to celebrate the company’s anniversary. We received a lot of positive feedback from our clients and partners and decided to launch another similar promotion, but with improved conditions. We’ve increased the number of prizes and giveaways up to 54 and 10 respectively. This time, we’ll be giving away money prizes for the total sum of $110,000 each month. Good luck to everyone!“

Categories for receiving Coupons:

1. Trading on Prime accounts

Prime is an account type with the best trading conditions available at RoboForex.

To receive a Coupon in this category, it’s necessary to deposit at least $300 to a Prime account and perform a monthly trading volume from 3 lots. In this case, only the positions in currency pairs and metals opened in the current month are taken into account.

2. Attracting new clients as a RoboForex partner

RoboForex partners have the opportunity to earn up to 60% of the Company’s revenue for all transactions of their attracted clients due to VIP conditions and the Loyalty program.

To receive a Coupon in this category, a partner must have at least $300 of partner commission at month-end.

3. Making the CopyFX Top list

CopyFX is an investment platform that allows successful Traders to attract subscribers for copying transactions and receive commissions for that. When trading on CopyFX accounts, a Trader earns not only on their own trading operations but their subscribers as well.

To receive a Coupon in this category, a CopyFX Trader must make the Top 30 of the best Prime accounts at month-end.

More detailed information on how to receive a Coupon can be found on the RoboForex website.

How are the winners decided?

Each Coupon has a unique 6-digit number that will be used for deciding the winners. Participants, whose Coupon numbers will be mathematically the closest to the combinations, will become winners of 54 monthly prizes.

Winning combinations are defined based on stock prices of 54 leading American companies. Stock prices are fixed at the end of the trading session on the first Friday of each month following the month Coupons were granted. For example, a giveaway for the Coupons granted in July will take place on the first Friday of August, 06.08.2021. A combination consists of the last digits of a pair of stocks, which was defined in advance for each of the 54 prize places. The list of these stocks can be found in the “Promotions” section of the RoboForex website.

The price data is taken from an independent public source – finance.yahoo.com.

About RoboForex

RoboForex is a company, which delivers brokerage services. The company provides traders, who work on financial markets, with access to its proprietary trading platforms. RoboForex Ltd has the brokerage license IFSC 000138/210. More detailed information about the Company’s products and activities can be found on the official website at Roboforex.com.