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Friday, February 24, 2017

USA - The trend of increasing U.S. imports from Saudi Arabia and Iraq seems unlikely to continue given recent market developments.. - eia

NEWS Release  -  U.S. crude oil imports from Saudi Arabia and Iraq recently increased, but may decline soon



U.S. crude oil imports from Saudi Arabia and Iraq, two of the United States’ main sources for imported crude oil, have risen since reaching relatively low points in 2014 and 2015. On a combined basis, crude oil imports from these countries are the highest since late 2012. 

Gold - The trend is bullish .. - Read more ..

Daily  Gold Report by  instaforex



The gold price has broken out of the ascending triangle pattern as we expected. The minimum target is at $1,300. The trend is bullish. We could see a pullback towards the $1,247-45 area, but I expect the trend to continue. 

USD/CHF - If the USD/CHF pair fails to break through the resistance .. - Read more..

Daily  Report  USD/CHF by  instaforex



As expected, the USD/CHF pair continues to move downwards from the level of 1.0095. Yesterday, the pair dropped from the level of 1.0095 to the bottom around 1.0040. Today, the first resistance level is seen at 1.0095 followed by 1.0115, while daily support 1 is seen at 1.0034.

Thursday, February 23, 2017

Daily Report Trading Plan for EUR/USD and USD/JPY ..- Read more ..

Daily  Report by  instaforex




As seen on the hourly chart displayed here, the EUR/USD pair is firm on its way towards parity levels as discussed and expected last week. Looking into the wave structure, it is more than clear that the pair has produced waves (1) and (2) within the wave (3), which should unfold into 5 wave towards 1.0300 and 1.0000 at least. 

Daily Report Trading plan ..- Read more ..

Daily Report Trading plan by instaforex




On Thursday 23rd of February, there will not be many economic releases during the European and American trading sessions and the main focus will be on Unemployment Claims data from the U.S. at 01:30 pm GMT and Crude Oil Inventories data at 04:00 pm GMT. 

Wednesday, February 22, 2017

EU Economy - Euro area annual inflation was 1.8% in January 2017 .. - Eurostat

Press Release - Annual inflation up to 1.8% in the euro area Up to 1.7% in the EU




Euro area annual inflation was 1.8% in January 2017, up from 1.1% in December 2016. In January 2016 the rate was 0.3%. European Union annual inflation was 1.7% in January 2017, up from 1.2% in December. 

EUR/JPY - An unexpected break below 119.30 will extend the corrective decline ..- Read more ..

Daily  Report EUR/JPY by  instaforex



We continue to expect that support seen at 119,30 will be able to protect the downside for a break above minor resistance seen at 119.88 and more importantly above resistance at 120.32 that will indicate the next impulsive rally higher towards 126.54 is developing.

Crude Oil - The bulls are trying again to break out above the technical resistance at .. - Read more ..

Daily  Report Crude Oil by  instaforex




Interesting comments regarding the crude oil has hit the newswires overnight. The OPEC Secretary-general Mohammad Barkindo said that compliance rate among cartel members who agreed to participate in the production cutback deal is expected to increase above the current 90%.

Tuesday, February 21, 2017

USA Economy - Increase over the expected presented the CPI .. - bls

NEWS Release - CPI rose 2.5 percent over the 12 months ending January 2017



From January 2016 to January 2017, the Consumer Price Index for All Urban Consumers (CPI-U) all items index rose 2.5 percent, the largest 12-month increase since March 2012.

USD/CAD - This week, a bullish breakout above 1.3300 is needed to enhance bullish ..- Read more..

Daily  Report USD/CAD by  instaforex



The USD/CAD pair challenged the upper limit of the depicted channel around 1.3360-1.3400 which succeeded to apply enough bearish pressure on the pair. Shortly after, a bearish engulfing weekly candlestick was expressed by the end of the week indicating strong resistance around 1.3550.

Daily Report in FOREX - Read more ..

Daily  Report in FOREX by  instaforex




EUR/USD: This pair did nothing significant on Monday: It only moved sideways in the context of a bearish outlook. Some considerable movement might occur this week, but it may not be as significant as what we would see next week. Further bearish movement is expected in the market, as price targets the support lines at 1.0600, 1.0550 and 1.0500. 

Monday, February 20, 2017

USD/JPY - Japan's trade balance turned negative in January, as imports surged and exports rose much slower than expected. - Read more..

Daily  Report USD/JPY by  instaforex



The Japanese Ministry of Finance had reported overnight that Japan's trade balance turned negative in January, as imports surged and exports rose much slower than expected. The current trade deficit was £1.087 trillion in January, while the previous month surplus was at the level of £641.4 billion (market analysts expected the deficit of £636.8 billion for the reported month). 

EUR/USD - The price is below the resistance 1.0640-50 and bearish bias seemed.. - Read more ..

Daily  Report EUR/USD by  instaforex



Closing last week with a massive selling pressure on the EUR/USD pair, it has started the trading day below 1.0640-50 area. Today German PPI was published with a positive result at 0.7% which was forecasted to be 0.3%, and this data, as well as the Eurogroup meeting affected the performance of USD where EUR is gaining stronger. 

Friday, February 17, 2017

GBP/USD - If the market presents a daily close today below 1.24, it is expected .. - Read more ..

Daily  Report GBP/USD  by  instaforex




GBP had a great fall after Retail Sales report today which was expected to be 1.0% and which came out to be 0.3%. A deficit of -0.7% pup pressure on GBP to have a great fall from 1.2520 to 1.2410 and continuing to go downwards. 

Daily Report in FOREX - Read more ..

Daily  Report in FOREX by  instaforex




EUR/USD: The EUR/USD pair went downwards from Monday till Wednesday and later bounced upwards. The upwards bounce could be seen as a good opportunity to go short, although a movement above the resistance line at 1.0750 would threaten the bearish outlook, and a movement above the resistance line at 1.0800 would result in a bullish signal. 

Thursday, February 16, 2017

EU - Between the second and third quarters of 2016, 3.4 million people (18.0% of all unemployed in the second quarter of 2016) found a job. - Eurostat

Press Release -  3.4 million unemployed found a job in third quarter of 2016



Between the second and third quarters of 2016, 3.4 million people (18.0% of all unemployed in the second quarter of 2016) found a job, 11.5 million (61.4%) remained unemployed and a further 3.9 million (20.7%) became economically inactive. These figures do not include data for Belgium and Germany.

USD/CHF - The current rise will remain within a framework of correction. - Read more ..

Daily  Report USD/CHF by  instaforex




The USD/CHF pair is trading in an uptrend channel, the market showed signs of instability. According to the previous events, the trend is still trading between the levels of 0.9974 and 1.0101. 

Gold - Gold is very resilient and all pullbacks are ..- Read more ..

Daily  Report Gold by  instaforex



Gold made a very bullish reversal yesterday. Despite falling towards $1,216, support was briefly broken but buyers stepped back in despite Dollar strength and supported the price. Moreover, the price continued higher and closed above $1,228-33 area where it is trading now. 

Wednesday, February 15, 2017

USA Economy - The Producer Price Index for final demand increased 0.6 percent in January .. - bls

Press Release - PRODUCER PRICE INDEXES – JANUARY 2017




The Producer Price Index for final demand increased 0.6 percent in January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices rose 0.2 percent in December and 0.5 percent in November. (See table A.) On an unadjusted basis, the final demand index climbed 1.6 percent for the 12 months ended January 2017.

USD/CHF - The technical picture of the pair is positive above a rising trend line - Read more..

Daily  Report USD/CHF by  instaforex




USD/CHF is expected to trade with bullish bias as it is supported by a rising trend line. The technical picture of the pair is positive above a rising trend line, which emerged on Feb 9. The rising 50-period moving average is playing a support role.

Tuesday, February 14, 2017

Germany - The economic situation in Germany in 2016 was characterised by solid and steady growth (+0.7% in the first quarter, +0.5% in the second quarter and +0.1% in the third quarter)., - Destatis

News Release - Gross domestic product up 0.4% in 4th quarter of 2016



WIESBADEN – The German economy continued its moderate growth at the end of 2016. In the fourth quarter of 2016, the gross domestic product (GDP) rose 0.4% on the previous quarter after adjustment for price, seasonal and calendar variations. 

Daily Report in FOREX - Read more ...

Daily  Report by  instaforex




There will be a few economic releases during the European and American trading session, so let's take a look at the major fundamental events today: Consumer Price Index data from UK, ZEW Economic Sentiment from Germany and speech of the Federal Reserve Chairperson Janet Yellen. 09:30 am GMT - Consumer Price Index from the UK The Consumer Price Index data from the UK are scheduled for release at 09:30 am GMT today and they are the most important news release for European session. 

Monday, February 13, 2017

USD/CAD - A bullish breakout above 1.3360 was expected to allow a .. - Read more ..

Daily  Report USD/CAD by  instaforex



The USD/CAD pair challenged the upper limit of the depicted channel around 1.3360-1.3400 which succeeded to apply enough bearish pressure on the pair. Shortly after, a bearish engulfing weekly candlestick was expressed by the end of the week indicating strong resistance around 1.3550.

USA - Production from tight oil plays surpassed 50% of total U.S. oil production in 2015 .. - eia

Publication -  Tight oil expected to make up most of U.S. oil production increase through 2040



EIA’s recently released Annual Energy Outlook 2017 (AEO2017) Reference case projects that U.S. tight oil production will increase to more than 6 million barrels per day (b/d) in the coming decade, making up most of total U.S. oil production. After 2026, tight oil production remains relatively constant through 2040 in the Reference case as tight oil development moves into less productive areas and as well productivity decreases. Side cases with different resource and technology assumptions result in different tight oil and total U.S. oil production projections.

EUR/USD - If the price remains above the support level 1.0627, it is expected that bulls will .. - Read more ..

Daily  Report  EUR/USD by  instaforex




After a massive selling off last week EUR/USD has reached the base support at 1.0627. Today, the market opened with 8 pips gap and within few hours the gap was filled as the EUR started gaining strength after hitting the support. 

Friday, February 10, 2017

Gold - Gold should remain under pressure in the short term due to the US Dollar strength ..- Read more..

Daily  Report Gold by  instaforex



A 4H chart view has been presented here to understand the wave structure since December 15, 2016. The yellow metal has formed a meaningful bottom at $1,122.00 level around December 15, 2016, and since then has rallied through $1,245.00 level making a series of higher highs and higher lows as seen here. 

Thursday, February 9, 2017

Daily Report in FOREX - Read more ..

Daily  Report in FOREX by  instaforex




EUR/USD: The EUR/USD has gone down in the short-term, generating a short-term bearish signal. Price has gone down by more than 100 pips this week, now below the resistance line at 1.0700. The next target for bears is support line at 1.0650, which might even be breached to the downside. 

Tuesday, February 7, 2017

Gold - This new uptrend is expected to last for a few months and to bring the price above - Read more ..

Daily Report Gold by instaforex


Gold price continues higher above $1,230 as we expected. A small pullback is justified but overall trend remains bullish targeting around $1,250 at first and the next is at $1,300-$1,320.

Monday, February 6, 2017

German Economy - In December 2016, domestic orders increased by 6.7% and foreign orders by 3.9% on the previous month. New orders from the euro area were up 10.0% on the previous month .. - Destatis

Press Release -  Manufacturing in December 2016: New orders +5.2% seasonally adjusted on the previous month


WIESBADEN – Based on provisional data, the Federal Statistical Office (Destatis) reports that price-adjusted new orders in manufacturing had increased in December 2016 a seasonally and working-day adjusted 5.2% on November 2016. 

EUR/USD - The level of 1.0868 is expected to act as a major resistance this week - Read more..

Daily Report EUR/USD by instaforex




The EUR/USD pair is trying to break a minor support at the level of 1.0744 which acts as a key level this week. According to the previous events, the EUR/USD pair is still moving between the levels of 1.0744 and 1.0659. 

Daily Report in FOREX ..- Read more ..

Daily Report in FOREX by instaforex




EUR/USD: The EUR/USD went upwards last week, but also not significantly. Price tested the resistance line at 1.0800 many times, but it was unable to breach it to the upside. The resistance line at 1.0800 must be breached to the upside this week, so that the bullish movement can continue, and so that risk of a serious pullback can be averted.