Hello. Below are a few recommendations for trading in the Forex market on 24.08.2018
USDCAD
On a pair USDCAD price has driven in a triangle, and bounced off the lower border of the formed pattern of Absorption. According to statistics, deals the advantage is not great, but on the side of the sellers. I still will bow to the fact that the fall will continue the trend down. But from deals until the refrain and wait for the exit from the outset.
EURJPY
On EURJPY reached the level 128,50 and formed a pattern Doji. Perhaps there will be long finished the correction and will resume the fall, try to update the recent lows. Consider there sales.
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Fundamental news
APR
Stock indices of Asian markets “started to grow”. Chinese investors bought shares in the hope of a positive outcome of the negotiations, the outcome of which will fail today. Stocks of mining companies soared after upbeat financial report CNOOC, developing profit by 54% in the first half:
- The Shanghai index is +0.37 %, Shenzhen Composite index +0.63% , the index of Hong Kong stock exchange -0,49%
The South Korean stock market rose on data on the export growth of 6% in the first half.
- The Korean KOSPI + 0,41%
- Japan’s Nikkei 225 +0,22%
Australian authorities continue to take measures to restrict Chinese investments in the technology sector. In particular, the last was issued an official ban Huawei to import the equipment for 5G networks.
- S&P/ASX 200 WAS 0.34%
USA
- Dow Jones — 0,30%
- NASDAQ -0,13%
- S&P 500 -0,17%
US stocks slipped into the red zone, as investors reacted to the publication of economic indices. If the labor market continues to make higher demand for labour, the problems in the field of real estate joined a decline in business activity in both sectors – manufacturing and services
- The number of new jobless claims for the week amounted to 210К against the forecast of 215K.
- PMI for August:
— the manufacturing sector in the forecast 54,5 55,1
— services – when 55,2 55,9 forecast
- Sales of new properties in August fell by 1.7% in July, with expectations of growth of 2.2 %.
In the Forex market USDX strengthened significantly against major currencies, after correspondence answer Jerome Powell to us President Donald Trump. The head of the fed recalled the independence of the office in matters of monetary policy, so the growth rate is still relevant.
The Eurozone
The head of the Bundesbank Jens Weidmann yesterday’s official statement suggested the EU should consider creating its own system of cross-border payments – the equivalent of SWIFT to gain independence from the US on the issue of remittances.
The official speech of the head of the Bundesbank Jens Weidmann
Investors took the speech as a negative signal, indicating readiness for further confrontation. It has affected the local business and financial problems in Turkey and the withdrawal of major European companies from Iran will result in a definite loss of income in the following reports. Therefore, in the course of the session pravoobladanie sales over purchases:
- FTSE 100 -0,15%
- CAC 40 — a 0.02%
- DAX -0,16%
Forex traders rushed to take a five-day growth of the Euro, the reason for this was data on business activity in the Euro area from Markit, released in August, worse than forecasts of 54.4 in the intended rating of 54.5.