Hello. Below are a few recommendations for trading in the Forex market on 19.07.2018
USDCAD
On a pair USDCAD price is stuck between the trend line and the level 1,32000 today formed a Pin bar. I stand by my attitude on the trend continuation and review purchase here. But if you don’t have deals, I would recommend to wait beyond the boundaries of the triangle.
XAUUSD
Gold has formed a Doji pattern. The price has been halted after the breakout of the support level 1236,00. Probably followed by a small correction back to the broken level and then continue falling. Buy here do not consider, as they are against the trend.
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Fundamental analysis
APR
Asian markets are trading mixed since morning in anticipation of the block of statistics from Japan and Australia, yesterday investors ended mostly on a negative wave did not keep the positive from the speech of the head of the fed Jerome Powell
- The Shanghai Composite fell 0.41%, Shenzhen Composite index fell by 0.72%, the Hang Seng Index dipped 0.2%
- KOSPI reduced capitalization 0.34%
- S&P/ASX 200 was up by 0.67%, waiting for good data on the labor market
- The Nikkei 225 increased by 0.43% playing creating free trade area Japan –EU
Chinese markets are under constant pressure from the new list of duties from the United States. President Donald trump wants to punish China for the answer to the first restrictions on Chinese imports in the amount of $34 billion In the case of a positive decision, the increased fees relate to the imported to America from China goods worth $200 billion.
USA
“Groundhog day” was held on the exchanges of America, as of yesterday the dynamics of the auction is determined by the second speech of the fed Chairman Jerome Powell, reporting corporations and national data.
The EU Committee announced the decision to fine Google for unfair competition
The exchange closed in positive except for the NASDAQ, which showed “near-zero” momentum after the establishment of the historic high, under the influence of problems arising from Google in the EU, where the company received a $5 billion fine.
- The DJIA rose 0.32%
- The NASDAQ ended the session “near zero”
- The S&P 500 rose by 0.22%
Powell hinted to the Finance Committee of the U.S. Congress that, despite excellent performance on the labor market and inflation, producers are concerned about the rising fees. In the long term, additional barriers will worsen the situation in the economy, which will require the reduction of customs duties, i.e., they are meaningless.
Statements by the fed could “block” the negative economic indicators for the housing market – a sharp drop in the number of new buildings in June by 12.3%, while analysts expected a drop of 2.3%.
Supported stock indexes Morgan Stanley report more than a third increased annual profit growth expected at 10%.
Forex traders continued to “put on the dollar” for the second consecutive session following a “positive fed” the USD index strengthened against a basket of major currencies.
The Eurozone
Mention the topic of duties to the speech of the fed before the financial Committee of Congress has injected optimism of the European investors, on the exchanges of the Old world was dominated by purchases. Additional positive and has brought inflation data raised to the target 2% in June, after may’s 1.9 percent as analysts expected.
This threshold forcing the European Central Bank to reconsider the policy of soft rates, at least to ensure that commitments to minimize the incentives of the financial markets before year-end will be fulfilled.
- The FTSE 100 increased by 0.65% against the victory of Theresa may in Parliament of the Kingdom, rejected amendments to the law Brexit
- The French CAC 40 added 0.46%
- The German DAX rose 0.82%
The news helped the Euro to avoid a deep fall, traders bought the half-day decline in EUR/USD.
