BITCOIN Analysis for January 5, 2018

Bitcoin has finally broken above the $15,500 price area recently, which is expected to help the cryptocurrency to proceed further upward in the coming days. The stable growth of bitcoin indicates that it is currently converting itself as a mature trading instrument after moving to the futures market. There are currently new market participants who have a different point of view about the bitcoin volatility and due to the recent pressure from the regulators, the impulsive bullish push for the bitcoin has reduced significantly. As of the current scenario, the price has been quite impulsive with the bullish break above the $15,500 price area where the dynamic levels of 20 EMA, Tenkan and Kijun line has worked as support quite well to push the price higher. As the price remains above $13,500 and dynamic levels, the bullish bias is expected to continue further with the recent target towards $17,250 and later towards the $19,600 price area.

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Daily analysis of Gold for January 05, 2018

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Overview

The gold price returns to decline and moves below 1,321.49 levels, postponing the positive scenario suggested in the morning. The price is affected by stochastic negativity and is waiting to get enough positive momentum to resume the bullish bias and breach the mentioned level, keeping the main bullish trend. In general, we still expect the bullish trend on the intraday and short-term basis, unless breaking and holding the 1,299.20 level with a daily close below it. Our next target is located at 1,357.53. The expected trading range for today is between the 1,310.00 support and the 1,335.00 resistance.

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Daily analysis of Silver for January 05, 2018

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Overview

The silver price traded negatively in a muted way yesterday in attempt to approach our first awaited target at 17.43, keeping the bullish trend scenario valid as it is without any change. The price is likely to breach this level to confirm extension of the bullish wave towards 18.30, reminding you that holding above 16.55 represents the most important condition to continue the suggested rise. The expected trading range for today is between the 17.00 support and the 17.42 resistance.

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Fundamental Analysis of USDCHF for January 5, 2018

USD/CHF has been quite volatile and corrective recently after breaking below the 0.9775 support level with a daily close. USD has been quite positive with the economic reports this week ahead of the NFP, Average Hourly Earnings and Unemployment Rate reports to be published today. This week CHF has been quite positive with the economic reports as well which includes Manufacturing PMI report publish with a slight increase to 65.2 from the previous figure of 65.1, which was expected to decrease to 64.6. On the other hand, today USD Average Hourly Earnings report is going to be published, which is expected to increase to 0.3% from the previous value of 0.2%; Non-Farm Employment Change is expected to decrease to 190k from the previous figure of 228k; Unemployment Rate is expected to be unchanged at 4.1%; and ISM Non-Manufacturing PMI is expected to have a slight increase to 57.6 from the previous figure of 57.4. Along with these high-impact economic reports, today USD Trade Balance report is going to be published which is expected to publish with a greater deficit of -49.7B from the previous negative figure of -48.7B; Factory Orders are expected to show a significant increase to 1.1% from the previous negative value of -0.1%; and FOMC Member Mester is going to speak today about the upcoming economic and monetary policies which is expected to be neutral in nature. As of the current scenario, the economic reports of USD are forecasted to be quite mixed in nature, but as of the recent ADP Employment reports, today's high-impact economic reports are expected to be positive as well. If the economic reports publish with a better than expected value, then USD is expected to gain impulsive momentum and dominate CHF in the coming days.

Now let us look at the technical view. The price is currently residing below the resistance area of 0.9775 to 0.9830. The price is currently struggling to close above the 0.9775 level which was recently broken by the price as support. The price is expected to reach towards the 0.9830 resistance level and if we see a daily close above the level, we will be looking forward to buy with further target towards the 1.01 resistance in the future. As the price remains above the 0.97 support area, the bullish bias is expected to continue further.

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Fundamental Analysis of NZDUSD for January 5, 2018

NZD has been quite positive with the economic reports this week which reflected the impulsive gains against USD this week, leading the price to the 0.7150 resistance area recently. This week NZD GDT Price report was published with a significant increase to 2.2% from the previous negative value of -3.9%. The positive economic report did help NZD to gain impressive momentum over USD which lead to 90 pips of the bullish move yesterday despite having positive economic reports from the US. Today on the USD side, USD Average Hourly Earnings report is going to be published, which is expected to increase to 0.3% from the previous value of 0.2%; Non-Farm Employment Change is expected to decrease to 190k from the previous figure of 228k; Unemployment Rate is expected to be unchanged at 4.1%; and ISM Non-Manufacturing PMI is expected to have a slight increase to 57.6 from the previous figure of 57.4. Along with these high-impact economic reports, today USD Trade Balance report is going to be published, which is expected to show a greater deficit of -49.7B from the previous negative figure of -48.7B; Factory Orders are expected to show a significant increase to 1.1% from the previous negative value of -0.1%; and FOMC Member Mester is going to speak today about the upcoming economic and monetary policies which is expected to be neutral in nature. To sum up, USD is expected to recover its grounds, which it lost against NZD today if the high-impact economic reports turns out to be better than expected though the forecast is quite mixed. If USD manages to gain momentum and close the week with a bearish momentum, then further bearish pressure can be expected to hit the market in the coming days.

Now let us look at the technical view. The price is currently residing just below the resistance level of 0.7170, where the price is expected to push lower towards 0.7050 and later towards the 0.6850 support area. As the price is residing below an important event level from where the price pushed lower previously, so this time any positive economic report on USD may result in impulsive bearish pressure as well. As the price remains below the 0.72 price area with a daily close, the bearish bias is expected to continue further.

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Fundamental Analysis of EURCAD for January 5, 2018

EUR/CAD has been struggling at the edge of the rising Channel support and the 1.50 support area for a few days now, which is expected to break below in the coming days. CAD has been the dominant currency in the pair since November 2017 but failed to sustain the impulsive bearish gains resulting in further correction and volatility above the support area. Today the German Retail Sales report was published with a significant increase of 2.3% from the previous negative value of -1.2%, which was expected to be at 1.0%; the French Prelim CPI report was published as expected at 0.3% increasing from the previous value of 0.1%; CPI Flash Estimate decreased to 1.4% as expected from the previous value of 1.5%; Core CPI Flash Estimate report was published with an unchanged value of 0.9%, which was expected to increase to 1.0%; the PPI report showed an increase to 0.6% from the previous value of 0.4%, which was expected to decrease to 0.3%; and the Italian Prelim CPI report also showed a significant increase to 0.4% from the previous negative value of -0.2%, which was expected to be at 0.2%. Though the economic reports were published with mixed results, CAD is expected to dominate the pair in the coming days. Today CAD Employment Change report is going to be published which is expected to have a drastic change to 1.8k from the previous figure of 79.5k; Trade Balance is expected to show a smaller deficit of -1.2B from the previous figure of -1.5B; and Unemployment Rate is expected to increase to 6.0% from the previous value of 5.9%. As of the current scenario, the CAD economic reports which are expected to be quite significant are forecasted to be quite negative, but if the CAD economic reports show positive results or better than expected, CAD is likely to gain stronger momentum over EUR and dominate further in the coming days.

Now let us look at the technical view. The price is currently residing at the edge of breaking below the Channel Support and Horizontal support level of 1.50. The price is also being held by the dynamic level of 20 EMA as a resistance for a few days now and a break below 1.50 is expected to lead to further bearish pressure in this pair with target towards the 1.4730 support area. As the price remains below the 1.52 price area, the bearish bias is expected to continue further.

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