GBP / USD. 10th of August. The results of the week. What can stop the fall of the British currency?

4-hour timeframe

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Amplitude of the last 5 days (high-low): 68p - 93p - 50p - 106p - 92p.

The average amplitude for the last 5 days is 82n (86p).

If the European currency at the beginning of the week slightly adjusted, the pound sterling fell down the whole trading week. The chance for the pound sterling was macroeconomic reports, which came out literally half an hour ago. However, as we can see now, they did not have a significant impact on the mood of traders. The preliminary value of GDP for the second quarter was 1.3%, and UK industrial production grew by 0.4% in monthly terms. Both indicators fully coincided with the forecast values. Thus, the last chance for the British currency this week will be the publication of inflation in the US. But, frankly, there is very little hope for this report either. First, in order to cause profit-taking on dollar positions, it is necessary for the report to fail. Secondly, even if the first condition is met, it is not a fact that traders will react to it. Thus, most likely, the pound sterling will remain in the downward movement until next week. And next week will be published changes in retail trade and inflation, which are important indicators of the state of the economy and can affect the pound sterling. Although much more important will be the new performances of Donald Trump regarding trade restrictions for US partners and the promotion (or lack thereof) in negotiations with the EU on Brexit.

Trading recommendations:

The GBP / USD currency pair has almost completed the support level of 1.2730. Around this level or 1.2696, a reversal may occur, but there are no fundamental reasons for this yet. Thus, ideally, upon reaching these marks, you can record profits on short positions.

Long positions are now not recommended, since the downward movement is quite strong, and there are still no signs of an upward correction beginning.

In addition to the technical picture, one should also take into account the fundamental data and the time of their release.

Explanations to the illustration:

Ichimoku Indicator:

Tenkan-sen is a red line.

Kijun-sen is a blue line.

Senkou Span A is a light brown dotted line.

Senkou Span B - a light purple dotted line.

Chinkou Span is a green line.

Bollinger Bands Indicator:

3 yellow lines.

MACD indicator:

Red line and histogram with white bars in the indicator window.

The material has been provided by InstaForex Company - www.instaforex.com

The daily review of the GBP / USD as of August 10, 2018. Ichimoku Indicator

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GBP / USD

Bears are close to the breakdown of the next support zone. What's next? Overcoming the current support and secure securing below reveals fairly long horizons before the players to descend, a downward target for the breakdown of the weekly cloud (1.2302 - 1.2027) and an update of the January-March minimum (1.1986). There is something to try for now.

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The advantages are now on the side of the players to downgrade. Nevertheless, at the moment, there is a braking and corrective lift. The nearest resistance is 1.2786 (Tenkan N4), further 1.2820 (Tenkan N4 + Kijun N1 + historical level) and 1,2900 (Fibo Kijun N4 + cloud N1 + monthly Fibo Kijun). Today, we close the week, because, how deep the upsurge will be, the preferences and prospects of the next week depend.

Indicator parameters:

All time intervals 9 - 26 - 52

The color of indicator lines:

Tenkan (short-term trend) - red,

Kijun (medium-term trend) - green,

Fibo Kijun is a green dotted line,

Chinkou is gray,

Clouds: Senkou Span B (SSB, long-term trend) - blue,

Senkou Span A (SSA) - pink.

The color of additional lines:

Support and resistance MN - blue, W1 - green, D1 - red, H4 - pink, H1 - gray,

Horizontal levels (not Ichimoku) - brown,

Trend lines - purple.

The material has been provided by InstaForex Company - www.instaforex.com

Why did the euro collapse?

So, the bears of the pair EUR / USD did not wait for the release of data on the growth of American inflation and pushed the price under an important support level of 1.1510, thus renewing the annual minimum. And it happened during the Asian session against the backdrop of an empty economic calendar. The traditional "stimulus" of the markets, Trump, this time, also remained silent, as well as the representatives of the Fed, which could provoke such a powerful price pulse.

At the moment, experts called the most likely version of the collapse of the euro. Strangely enough, but the catalyst for the southern impulse was Turkey, which is now in a state of economic crisis. In the opinion of market participants, this crisis can ricochet and hurt Europe, causing serious enough strikes on the European economy.

Recently, Turkey has faced a whole range of problems. First, the lira is rapidly becoming cheaper, the national currency has lost almost 30% of its value in relation to the dollar this year. The growing deficit of the current account of Turkey made the lira attractive for the "total" sale in emerging markets. Against the background of such dynamics, the yield of 10-year Turkish government bonds increased by almost 20%, reaching historical values.

The lira, which is cheaper by leaps and bounds, pushes up inflation, but consumer activity, on the contrary, decreases. Many local residents are reconsidering even their daily grocery set. For example, only potatoes have risen in price by three to four times compared to last year. A similar situation is observed in other areas, from the cost of fuel to rent for housing. However, according to most experts, everything that happens is just "flowers."

The fact is that Turkey is heavily dependent on imported capital. The country's economy largely depends on the inflow of foreign investment, and the volume of imports is many times higher than the volume of exports. Therefore, any restrictions in this sphere entail extremely negative, catastrophic consequences. Washington understands this perfectly, therefore, and aimed its sanctions on the most vulnerable and painful place. I will not go into the essence of the political conflict between the US and Turkey, we will only consider its economic consequences. At the moment, only personal sanctions are in force - the assets of the two acting ministers are frozen in the US, and Americans are forbidden to carry out any business deals with them. Of course, such measures are not capable of undermining the country's economy, so the essence of what is happening lies only in the future intentions of the White House.

So, according to the press, senators are likely to support the law, according to which Americans will be banned from approving loans for Turkey at the European Bank for Reconstruction and Development and at the World Bank. Given the dependence of Ankara on these financial institutions (Turkey is their largest borrower), it will be a serious blow for the country, which can even lead to bankruptcy. For example, in 2017, the Turks took the largest loan to the EBRD in almost two billion dollars. Turkey was also credited to many European banks. Among them are such large "fish" as Unicredit, BNP Paribas, and BBVA.

Now, if the lira is cheaper by another 8-10 percent (and such a scenario is very likely), many sectors of the economy will go bankrupt, primarily construction and energy. According to economists, this scenario will seriously affect the financial stability of large European banks.

Actually, this fact, which was voiced in the American press, and became the trigger that crashed the pair EUR / USD. The problem also lies in the fact that Recep Erdogan expanded his powers after the last election - in particular, now he can independently appoint the head and deputy heads of the Turkish Central Bank. This fact plays a big role in the context of the fact that Erdogan is against the tightening of monetary policy. And although the Central Bank raised its base rate to 17.75%, but stopped at this, in late July the regulator took a wait-and-see attitude, although many economists and politicians called for decisive action.

According to most analysts, the Turkish regulator should raise the interest rate immediately to 23-25%, in order to suspend the economic crisis. In their opinion, half measures, in this case, will be at least ineffective. However, the head of the Turkish state is not only opponents of half measures, but also, in general, any actions in this direction. And given the fact that the key decisions in the country are taken by the de facto Erdogan, it is not so difficult to foresee the decision of the Central Bank.

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Thus, the European currency has another irritating factor, the crisis in Turkey. If the Turkish economy is on the verge of collapse, panic will affect the resolve of the members of the ECB and, accordingly, the euro.

The material has been provided by InstaForex Company - www.instaforex.com

The dollar should increase pressure on foreign exchange markets

The US dollar strengthens pressure on Friday morning on a wave of rising risks for the global economy.

The euro falls because of the pressure of the Turkish lira that has collapsed. In addition, the approaching date on August 23, when the new US sanctions against China enters into force, frighten market players, forcing them to avoid buying risk. The dynamics of the equity markets in Asia on the wave of very positive data of Japan's GDP vividly indicates this.

According to the data presented, Japan's GDP increased sharply year-on-year, by 1.9%, while an increase of 1.4% was expected against the fall of 0.9% a year earlier in the period under review. The quarterly indicator grew 0.5%, while an increase of 0.3% was expected against the previous quarter's decline of 0.2%.

The released data did not provide any support to the Japanese stock market. The yen continues to grow against the dollar. The main reason for this is the expansion of the trade confrontation between the US and China, which will undoubtedly have a deterrent effect on the growth of the world economy through a drop in demand.

Today, the GDP of the UK will also come out, which, according to forecasts, is expected to grow by 1.3% in annual terms against the previous value of 1.2% a year earlier. The monthly value of the indicator is supposed to add 0.4% against 0.2% a month earlier. Despite the growth in the economy, we do not expect that the British currency will receive significant support, since Brexit, the main constraint, will dominate its sterling because of uncertainty about its economic and political prospects, because the Bank of England is unlikely to be in this situation further in the near future raise interest rates.

One more data today will attract attention - the importance of consumer inflation in the United States, which is expected to show an increase. If this happens, then the dollar is likely to increase its pressure on foreign exchange markets.

Forecast of the day:

The AUD / USD currency pair is testing the level of 0.7320 amid rising risks for world trade and the economy as a whole due to the aggravation of the trade relations between Washington and Beijing. If the pair, having stayed this mark, will be fixed below it, there is a probability of continuation of its fall to 0.7240.

The GBP / USD currency pair is trading below the level of 1.2915 and below the level of 1.2800. We do not expect that the data of the British GDP will support the pair. Most likely, it will continue falling to 1.2700.

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The material has been provided by InstaForex Company - www.instaforex.com

GBP / USD. 10th of August. The trading system "Regression channels". UK GDP: A chance for the pound sterling

4-hour timeframe

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Technical data:

The senior channel of linear regression: direction - down.

The younger channel of linear regression: direction - down.

Moving average (20, smoothed) - down.

CCI: -168.4234

The GBP / USD currency pair continued its unhurried downward movement on August 9, ignoring the complete absence of important macroeconomic statistics. The advantage of the US dollar now is beyond doubt, traders do not even want to record profits on short positions. But today, on Friday, August 10, there will still be a few chances for a correction in the British currency. First, on Friday, many traders often record profits and close positions before the weekend, which can trigger a correction in a pair. Secondly, today, after 4 days of complete calm in terms of macroeconomic news will be published GDP of the UK for the second quarter (though only a preliminary value) and industrial production. Experts forecast that GDP can increase from 1.2% to 1.3%, and industrial production, to add 0.4%, after a decline in the previous month by 0.4%. Thus, if traders do not ignore this data and both reports do not fail, the pound will have the opportunity to at least grow a little. In general, the downward trend is likely to continue, as all of Britain's political and economic problems have not gone away, and no new encouraging information on the progress of Brexit talks has appeared.

Nearest support levels:

S1 = 1.2817

S2 - 1.2695

S3 - 1,2573

Nearest resistance levels:

R1 = 1.2939

R2 = 1.3062

R3 = 1.3184

Trading recommendations:

The pair GBP / USD has fulfilled the level of 1.2817. Since no signs of the beginning of correction at the moment, there is, it is recommended to continue to support the warrants until they appear. During the publication of news in Britain and the United States, you should transfer Stop Loss to a minimum, since a reversal is possible.

Buy-positions are recommended to be considered no earlier than fixing the price above the moving average line with a target of 1.3062. However, all previous attempts to start the uptrend failed, and today during the day we are unlikely to wait for the pound to be fixed above the moving-house.

In addition to the technical picture, one should also take into account the fundamental data and the time of their release.

Explanations for illustrations:

The upper channel of linear regression is the blue lines of unidirectional motion.

The junior channel is linear-violet lines of unidirectional motion.

CCI - the blue line in the regression window of the indicator.

Moving average (20; smoothed) - the blue line on the price chart.

Levels of Murray - multi-colored horizontal stripes.

Heikin Ashi is an indicator that color bars in blue or purple.

The material has been provided by InstaForex Company - www.instaforex.com

Forecast for GBP / USD as of August 10, 2018

GBP / USD

The British pound fulfilled our forecast yesterday with a version of the triple convergence with the oscillator Marlin. The price declined, and Marlin's signal line showed growth.

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The support for the trend line at 1.2785 has not yet been worked out, formally the price tends to it, but much will depend on today's important data on the UK. GDP for the 2nd quarter is expected to grow by 0.4%, at an annual rate of 1.3% against 1.2% earlier. Business investment is expected to grow by 0.3% against -0.4% in the previous quarter. Industrial production for June could show an increase of 0.4%, but due to the previous fall in May by -0.4%, the annual growth in Industrial Production could slow down to 0.7% from 0.8% earlier. The commodity trade balance for June is expected to improve from -12.4 billion pounds to -12.0 billion.

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In the case of really good data, growth can have two goals: the nearest at 1.2880 near the resistance of the indicator line for H4, and 1.2930 - the resistance of the Kruzenshtern line. The resistance of the trend line at 1.2992 (daytime TF), which both indicator lines are also seeking, can be achieved with additional negative events for the dollar, but for the time being there are none, and if they appear, the movement to the target will take about two days.

But British data may disappoint. In this case, the downward trend line in the region of 1.2785 will be worked out. The further prospects for the decline are far, the next significant goal is 1.2275 - support of the trend line of the channel at weekly TF.

The material has been provided by InstaForex Company - www.instaforex.com

Analysis of GBP / USD Divergences on August 10. The pound continues to depreciate against the dollar

4h

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Quotations of the currency pair GBP / USD on the 4-hour chart continue the decline in the direction of the corrective level of 261.8% - 1.2638. August 10 is maturing bullish divergence in the CCI indicator. Its formation will allow traders to expect a turn in favor of the British currency and some growth in the direction of the correction level of 200.0% - 1.3047. Quit of quotes from the level of Fibo 261.8% similarly will work in favor of the beginning of the growth of the pair. The consolidation of the exchange rate under the correction level of 261.8% will increase the chances of further falling in the direction of the next level of Fibo 323.6% - 1.2230.

The Fibo grid is built on extremes from March 1, 2018 and April 17, 2018.

1h

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On the hourly chart, the pair completed another retreat from the correction level of 127.2% to 1.2888 and resumed the fall to the Fibo level of 161.8% to 1.2800. The bovine divergence is brewing at the CCI indicator. If it is formed, then the pair can perform a turn in favor of the British currency and begin the growth process in the direction of the corrective level of 127.2% - 1.2888. Quit of quotations from the level of Fibo 161.8% likewise will allow to count on some growth of the pair. The consolidation of the exchange rate under the correction level of 161.8% will increase the probability of continuing the fall towards the next Fibo level of 200.0% - 1.2702.

The Fibo grid is built on extremes from July 19, 2018, and July 26, 2018.

Recommendations for traders:

Purchases of the GBP / USD pair will be possible with the target of 1.2888 and a stop loss order under the correction level of 161.8% if the Fibo level breaks off at 1.2800 (hourly chart).

New sales of the GBP / USD pair will be possible with a target of 1.2702 and a Stop Loss order above the correction level of 161.8% if there is a close under the Fibo level of 1.2800.

The material has been provided by InstaForex Company - www.instaforex.com

Analysis of EUR / USD Divergences on August 10. Euro with new forces rushed down

H4

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On the 4-hour chart, the EUR / USD pair is the corrected retreat from the correction level of 61.8% to 1.1617 and a reversal in favor of the US currency. As a result, the pair made a drop to the correction level of 100.0% at 1,1508. At the time of writing, the fall in quotations continued below the Fibo level of 100.0% in the direction of the correction level of 127.2% at 1.1431. The retracement level of the pair from the Fibo level of 127.2% allows traders to expect a turn in the favor of the EU currency and a return to the correction level of 100.0%. The bullish divergence of the MACD indicator is maturing, which allows us to count on some growth of the pair. Fixing the quotes below the Fibo level of 127.2% will increase the chances of a further decline.

The Fibo grid was established on the boundaries of June 21, 2018 and July 9, 2018.

Daily

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On the 24-hour chart, the quotes returned to the correction level of 100.0% at 1.1553, and a bit later, consolidated below it. As a result, the process of falling quotations can be continued in the direction of the next. Fibo level of 127.2% at 1.1285. Brewing divergences in the pair are not observed in any indicator. The consolidation of the price above the correction level of 100.0% can be interpreted as a turn in favor of the euro and expect some growth in the direction of the correctional level of 76.4% - 1.1789.

The Fibo grid was established on the boundaries of November 7, 2017 and February 16, 2018.

Recommendations for traders:

New purchases of the EUR / USD pair will be possible with the target of 1,1508 with a stop loss order under the Fibo level of 127.2% if the pair retires from the correction level of 1.1431, especially in conjunction with the bullish divergence.

Sales of the EUR / USD pair, can be held with the targets of 1.1431 and 1.1333, as the pair is completed the closing under the Fibo level of 100.0%, with the Stop Loss order above the level of 1.1508.

The material has been provided by InstaForex Company - www.instaforex.com

GBP / USD. 9th of August. Results of the day. Traders do not believe in the pound at all

4-hour timeframe

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Amplitude of the last 5 days (high-low): 115p - 68p - 93p - 50p - 106p.

The average amplitude for the last 5 days: 86p (75p).

The currency pair GBP / USD on Thursday, August 9, against a background of an almost complete absence of any macroeconomic information, most of the trading day stood in one place with little volatility. The support level of 1.2852 was tested for strength two times and both resisted. However, we draw the attention of traders to the fact that the correction has not started today. That is, market participants stubbornly do not want not to open longs, but even to shorten shorts. And this means complete disbelief in the British pound sterling. Moreover, the Brexit news at the moment is only one, the fact that there are no new agreements between the EU and the UK. Thus, the faith in the positive outcome of this process in the British falls, as well as the investment attractiveness of the British pound and, in general, the economy of the Kingdom decreases. By the way, we note one more important fact that since April 17, when the last round of the strengthening of the US currency began, more or less significant correction has not happened. The MACD indicator turned upward, which signals a correction, but the indicator reacted to the slightest price reduction and began to discharge. Bollinger bands are directed downward, the indicator of Ichimoku supports a strong "dead cross".

Trading recommendations:

The GBP / USD currency pair worked at 1.2852 and can not overcome it yet. Thus, it is recommended to open new short positions in case of overcoming this level with the targets of 1.2794 and 1.2730.

Orders for a purchase are not recommended now, since the downward movement is quite strong, and there are no signs of an upward correction beginning. And even when they appear, the corrections are very weak.

In addition to the technical picture, one should also take into account the fundamental data and the time of their release.

Explanations to the illustration:

Ichimoku Indicator:

Tenkan-sen is a red line.

Kijun-sen is a blue line.

Senkou Span A is a light brown dotted line.

Senkou Span B - a light purple dotted line.

Chinkou Span is a green line.

Bollinger Bands Indicator:

3 yellow lines.

MACD indicator:

Red line and histogram with white bars in the indicator window.

The material has been provided by InstaForex Company - www.instaforex.com

EUR / USD. 9th of August. Results of the day. Traders do not know which way to go next?

4-hour timeframe

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Amplitude of the last 5 days (high-low): 86p - 51p - 41p - 57p - 55p.

The average amplitude for the last 5 days is 58p (56p).

On Thursday, August 9, the EUR / USD currency pair attempted to complete the upward correction, but failed to fall below the critical line. Throughout the trading day at the disposal of traders again received very few macroeconomic reports. This time it became known about the number of applications for unemployment benefits in the US (213,000) and the producer price index for July (+ 3.3% y / y). However, these reports had a low-profile status and had little impact on traders. In addition to these events, another important thing happened. Beijing responded to the US to impose new duties totaling $ 16 billion on its fees for ... exactly the same amount. Thus, China has made a very expected step in the trade war and at the same time made it elegantly, without escalating the situation with duties on a larger amount, but also without letting it know that it is ready to yield to Washington. Traders, on the background of the complete absence of important macroeconomic reports, clearly did not know which way to go next? From a technical point of view, however, a resumption of a downward movement is still expected, as the pair could not overcome the maximum of the medium, and the "gold cross" is weak. If the price is fixed back below the critical line, this will confirm the completion of the correction. The MACD indicator has already turned down, which also signals a very likely resumption of the downtrend.

Trading recommendations:

The EUR / USD pair may resume its downward movement. If the bears manage to overcome the Kijun-sen line, it is recommended to open new sell orders with targets of support levels 1.1524 and 1.1503.

Long positions are recommended to be considered if the price remains above the critical line and after the MACD indicator turns up. The goal for longs in this case will be the level of 1,1640, and the bulls will have a new opportunity to develop their success.

In addition to the technical picture, one should also take into account the fundamental data and the time of their release.

Explanations to the illustration:

Ichimoku Indicator:

Tenkan-sen is a red line.

Kijun-sen is a blue line.

Senkou Span A is a light brown dotted line.

Senkou Span B - a light purple dotted line.

Chinkou Span is a green line.

Bollinger Bands Indicator:

3 yellow lines.

MACD indicator:

Red line and histogram with white bars in the indicator window.

The material has been provided by InstaForex Company - www.instaforex.com

New Zealand Dollar: The main outsider of the day

The main outsider today is not the Russian ruble, but the New Zealand dollar, which not only collapsed to a two-year low, but continues to show bearish dynamics. The August meeting of the Reserve Bank of New Zealand was fatal for the national currency, and now, the currency pair NZD / USD, apparently, will occupy a new price niche.

The regulator has surpassed even the "softest" expectations of experts. The head of the RBNZ Adrian Orr, who was recently appointed to his post, said that the Central Bank decided to extend the forecast for maintaining the current rate. If the timeframe for possible tightening of monetary policy was earlier at the level of 2019, then this issue will not be considered until 2020. Moreover, according to Orr, the regulator does not exclude the option of lowering the interest rate level, "if it is necessary".

Here, it is worth recalling that a few months ago, the RBNZ took a more decisive position. And although the regulator did not deny that the monetary policy parameters will not change in the foreseeable future, the Central Bank insisted that the next step would be a rate hike rather than a decrease. Given this position, the market was oriented towards the second half of 2019 (October-December) and did not expect any surprises from the regulator earlier than the deadline. But the New Zealand Central Bank still surprised, it would seem, the "through" session turned into a real test for the traders of the currency pair NZD / USD.

The rhetoric of Adrian Orr helped the pair of bears to break through a strong support level of 0.6750, from 2016, the price has repeatedly approached this target, but each time it was repelled, thus forming a "bottom". It is noteworthy that after the impulse decrease, the price retracement did not follow, as is often the case in such cases (for example, the ruble, in pairing with the dollar, still tries to restore at least some of the lost positions). This suggests that the market has not fully played the news driver, and after a minimal correction, the decline will continue.

The fact is that the New Zealand dollar at the moment does not have any reasons for its own growth. In tandem with the US dollar, it can show a corrective growth only due to the weakening of the greenback. But, firstly, the US dollar is now in great shape, and, secondly, the effect of the August meeting will be felt for a long time. Central Bank of New Zealand outlined an extremely pessimistic picture. According to the head of the RBNZ, the prospects for the country's economy remain weak. This thesis is consistent with the opinion of the New Zealand Minister of Finance, who recently announced that the official forecast of GDP growth for the current year will be revised downward (from the current 2.8%).

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The slowdown in economic growth is not the only problem. According to the latest data, the level of business confidence, as well as consumer confidence, has significantly decreased in the country. The real estate market has cooled down, the sector of production and, what is especially important for the island state, the service sector, shows a negative dynamics. Foreign trade is also not encouraging. In June, the trade balance deficit was unexpectedly fixed, with the general expectations of a surplus.

Separately, it is necessary to tell about inflationary dynamics. Consumer prices in New Zealand rose by 1.5% in the second quarter of this year, continuing to grow after growth of 1.1% y / y in the first quarter. However, first, most analysts expected more significant growth, and secondly, relative to the previous quarter, the CPI slowed in April-June to 0.4% (0.5% in January-March). Moreover, despite the aforementioned increase in inflation, prices for dairy products (which are so important for the New Zealand economy) continue to decline. The results of GDT auctions show that prices for almost all stock dairy products are falling, the weighted average price of the auction decreased by $ 86 with a stable supply growth. Since the beginning of June, the price index for dairy products has been in the negative area, and following the results of the last auction (which took place this Tuesday) was able to rise only to zero level. The offer, as before, significantly exceeds the demand in the dairy market, and this fact has a negative impact on the overall situation in this area. In addition, the devaluation of the yuan has created an additional challenge for Chinese importers, reducing their activity. By the way, RBNZ pointed out in a separate line that the risks for the country's export sector are growing in proportion to the growth of global trade tension. The hint of the US-China trade war is more than obvious.

Thus, the New Zealand regulator made it clear that over the next two years, it is not going to tighten monetary policy and if there are changes in the current parameters, then toward easing. This position will exert pressure on the currency pair NZD / USD for a long time, especially if the trade war between China and the US again will continue.

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From the technical point of view, the situation is as follows. On all timeframes, the currency pair NZD / USD is on the bottom line of the Bollinger Bands indicator under all lines of the indicator Ichimoku Kinko Hyo, which formed a strong bearish signal "Line Parade". This indicates the clear advantage of the southern movement. Bearish momentum is so strong that it is too early to speak about price correction. Only if tomorrow's data on the growth of American inflation go much worse than expected, the bulls of the pair can expect a minimal price retracement. Otherwise, the priority will remain for the south. The main goal of the southern movement is at the lows of 2016, that is, at the base of the 65th figure. It is the mark of 0.6500 that will become the main barrier for bears NZD / USD.

The material has been provided by InstaForex Company - www.instaforex.com

GBP / USD h4. Variants of traffic development from August 10, 2018 Analysis of APLs & ZUP

Minute (h4)

Great Britain Pound vs US Dollar

Previous review of 08/06/2018 19:31 UTC + 3.

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The trend of the GBP / USD movement on August 10-24, 2018 will be determined by the direction of the breakdown of the range:

-> resistance level 1.2910 (warning line LWL61.8 forks operating scale Minute);

-> Support level 1.2838 (Minuette operational minimum SSL start-level minimum line)

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The outlook for the development of the upward movement (buy)

Breakout of the resistance level of 1.2910 warning line LWL61.8 operating-scale forks Minute -> development of the GBP / USD upward movement can be continued to the borders of the channel 1/2 Median Line (1.2945 <-> 1.2980 <-> 1.3015) and the equilibrium zone (1.3015 <- - > 1.3075 <-> 1.3125) operating Minuette forks with the prospect of achieving a local maximum of 1.3215.

The details are shown in the graph.

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The outlook for the development of the downward movement (sell)

Breakdown of support level 1.2838 (initial line of SSL forks of operational scale Minuette - local minimum) -> option of continuing the development of the downward movement of GBP / USD to targets -> LTL control line (1.2780) operating-scale forks Minute <-> warning lines of operating-scale forks Minuette < -> LWL38.2 (1.2760) <-> LWL61.8 (1.2705) <-> LWL100.0 (1.2625) <-> LWL161.8 (1.2495).

See the schedule for details.

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The review is made without taking into account the news background and is not a guide to action (placing orders "sell" or "buy").

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ZUP and Andrews Pitchfork (terms, concepts, parameters).Materials for the study of the analysis of ZUP & APL`s.

The material has been provided by InstaForex Company - www.instaforex.com

Wave analysis of EUR / USD for August 9. The pair is ready to complete the corrective wave 2

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Analysis of wave counting:

During the trading on Wednesday, the EUR / USD currency pair gained about 10 percentage points and is preparing to complete the construction of the proposed wave 2, 5, downward part of the trend. If this assumption is correct, then the decline in quotations will resume today or a maximum tomorrow in the framework of the construction of wave 3, 5, with targets below 15 figures. A successful attempt to break the downward trend line will lead to the idea of the tool's willingness to build an ascending set of waves, and the current wave counting will require adjustments. However, there is no reason to assume the execution of such an option now.

The objectives for the option with sales:

1.1507 - 100.0% of Fibonacci

1.1444 - 127.2% of Fibonacci

The objectives for the option with purchases:

1.1834 - 200.0% of Fibonacci

1.1957 - 161.8% of Fibonacci

General conclusions and trading recommendations:

The wave 5 of the descending section of the trend continues its construction. Thus, on August 9, I recommend continuing the formation of sales of the pair with targets located near the estimated levels of 1.1507 and 1.1444, which equates to 100.0% and 127.2% of Fibonacci, pending the construction of wave 3, 5. I recommend buying back to purchases not earlier than the breakthrough of the trend line and after specifying the wave counting.

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Review of GBP / USD pair for the week of August 9 via simplified wave analysis

The wave pattern of the H4 graph:

The descending wave of January 25 is not complete. Its wave level has already exceeded the scale of the chart under consideration of the pair.

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The wave pattern of the H1 graph:

In a higher wave model, the descending wave of April 17 forms the final part (C).

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The wave pattern of the M15 chart:

The direction of movement in the last few weeks is set by the downward wave of July 26. In the structure, there is a need for an upward rollback for correction.

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Recommended trading strategy:

Purchases are risky and only possible at the lowest timeframe. For sales on higher timeframes, it is recommended to sell the pair. You must wait until the rollback is completed.

Resistance zones:

- 1.3030 / 1.3080

Support zones:

- 1.2880 / 1.2830

Explanations to the figures:

A simplified wave analysis uses a simple waveform, in the form of a 3-part zigzag (ABC). The last incomplete wave for every timeframe is analyzed. Zones show the calculated areas with the greatest probability of a turn.

Arrows indicate the counting of wave according to the technique used by the author. The solid background shows the generated structure and the dotted exhibits the expected wave motion.

Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need to confirm the signals used by your trading systems.

The material has been provided by InstaForex Company - www.instaforex.com

EUR / USD pair - H4 chart. Variants of traffic development from August 10, 2018 Analysis of APLs & ZUP

Minute (h4)

Euro vs US Dollar

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Further development of traffic in the EUR / USD pair on 10th to 24th of August 2018 will be determined by the direction of the breakdown of the boundaries of the channel at the a Median Line (1.1585 <-> 1.1605 <-> 1.1630). Fork operational scale Minuette, recalling that when trading with this currency tool, it is necessary to take into account how the movement of the dollar index flows (review from 15:19 10/08/2018 UTC + 3).

The layout of the above-mentioned levels of the 1/2 ML Minuette channel is shown on the chart.

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Prospect of the upward movement development (buy)

The breakdown level of resistance at 1.1630 (the upper limit of the channel the Median Line Minuette 1/2 ) -> variant of the upward movement of EUR/USD pair to the balance area ( 1.1690 <-> 1.1730 <-> 1.1770 ) Fork operational scale Minuette, and in the breakdown of ISL 61.8 Minuette (1.1770), it will be possible to achieve local maximum `s (1.1791 <-> 1.1852). The details are shown io the chart.

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The breakdown of the support level at 1.1585 (the lower limit of the channel 1/2 of the Median Line Minuette) -> the development of the Euro / Median Line (1.1585 <-> 1.1545 <-> 1.1500) forks of the operating scale UWL 38.2 Minute (1.1425) and the final Shiff Line Minute (1.1375). (1.See the schedule for details.

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The review is made without regard to the news background and it is not a guide to action (issuing orders "sell" or "buy").

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ZUP and Andrews Pitchfork (terms, concepts, parameters).

Materials for the study of the analysis of ZUP & APL`s.

The material has been provided by InstaForex Company - www.instaforex.com

Review of EUR / USD pair for the week of August 9 for simplified wave analysis

Overview EUR / USD pair on the week of August 9 a simplified wave analysis

The wave pattern of the H4 graph:

The trend direction of the wave is top-down and the report is from January 25. For many reasons, a correction (B) is being prepared from the current turn area.

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The wave pattern of the H1 graph:

The wave is formed as a standard plane. Over time, the potential for price increases is largely reduced.

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The wave pattern of the M15 chart:

The last wave of July 23 is bearish and close to completion. On a higher timeframe, it takes the place of correction. A change of course is expected in the coming days.

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Recommended trading strategy:

Purchasing is the best of within the framework of the small potential. On higher timeframes, you must wait for the completion of the current correction to go up and look for signals to sell the pair.

Resistance zones:

- 1.1800 / 1.1850

Support zones:

- 1.1550 / 1.1500

Explanations to the figures:

A simplified wave analysis uses a simple waveform, in the form of a 3-part zigzag (ABC). The last incomplete wave for every timeframe is analyzed. Zones show the calculated areas with the greatest probability of a turn.

Arrows indicate the counting of wave according to the technique used by the author. The solid background shows the generated structure and the dotted exhibits the expected wave motion.

Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need to confirm the signals used by your trading systems.

The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis: Intraday Level For EUR/USD, Aug 10, 2018

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When the European market opens, some Economic Data will be released such as Italian Trade Balance, French Prelim Private Payrolls q/q, and French Industrial Production m/m. The US will release the Economic Data too such as Federal Budget Balance, Core CPI m/m, and CPI m/m, so amid the reports, EUR/USD will move in a medium volatility during this day.

TODAY'S TECHNICAL LEVEL: Breakout BUY Level: 1.1582. Strong Resistance: 1.1575.Original Resistance: 1.1564. Inner Sell Area: 1.1553. Target Inner Area: 1.1525. Inner Buy Area: 1.1497. Original Support: 1.1486. Strong Support: 1.1475. Breakout SELL Level: 1.1468.

Disclaimer: Trading Forex (foreign exchange) on margin carries a highlevel of risk, and may not be suitable for all Traders or Investors.The high degree of leverage can work against you as well as for you.Before deciding to invest in foreign exchange you should carefullyconsider your investment objectives, level of experience, and riskappetite. The possibility exists that you could sustain a loss of someor all of your initial investment and therefore you should not investmoney that you cannot afford to lose. You should be aware of all therisks associated with foreign exchange trading, and seek advice froman independent financial advisor if you have any doubts.

The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis: Intraday level for USD/JPY, Aug 10, 2018

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In Asia, Japan will release the Tertiary Industry Activity m/m, PrelimGDP Price Index y/y, PPI y/y, and Prelim GDP q/q. The US will release some Economic Data such as Federal Budget Balance, Core CPI m/m, and CPIm/m. So there is a probability the USD/JPY pair will move with low tomedium volatility during this day.

TODAY'S TECHNICAL LEVEL: Resistance. 3: 111.52. Resistance. 2: 111.30. Resistance. 1: 111.08. Support. 1: 110.82. Support. 2: 110.60. Support. 3: 110.38.

Disclaimer: Trading Forex (foreign exchange) on margin carries a highlevel of risk, and may not be suitable for all Traders or Investors.The high degree of leverage can work against you as well as for you.Before deciding to invest in foreign exchange you should carefullyconsider your investment objectives, level of experience, and riskappetite. The possibility exists that you could sustain a loss of someor all of your initial investment and therefore you should not investmoney that you cannot afford to lose. You should be aware of all therisks associated with foreign exchange trading, and seek advice froman independent financial advisor if you have any doubts.

The material has been provided by InstaForex Company - www.instaforex.com

Trading plan for 10/08/2018

EUR/USD broke through 1.15 and the activation of stop-loss orders pushed the rate to 1.1438. The drop is probably related to the continued sale-off of the Turkish lira - today USD/TRY jumped another 3.0% up to 5,7450.

The Financial Times article is in the center of global investors attention, according to which European financial supervision is concerned about the exposure of European banks to Turkish assets. The investors' uncertainty is also fueled by the planned presentation by the Ministry of Finance of Turkey of a new economic model that may not be market-friendly. Movement on EUR/USD initiated the appreciation of USD on another cross. GBP/USD is testing at 1.28, AUD/USD approaching important support at 0.7310 as the Financial Stability Report published by the RBA at the night brought a few surprises. The main change is the lowering of the CPI forecast for 2018 from 2%. up to 1.75 percent, but this information was already included in the statement after Tuesday's decision.

In the stock market, the gloomy climate pushes prices down. Japanese Nikkei225 loses 1.4 percent and Chinese Shanghai Composite falls 0.4 percent.

On Friday, the 10th of August, the event calendar is full in important data releases, especially during the NY session. During this time Canada will issue Unemployment Rate, Employment Change, Part-Time Employment Change and Participation Rate. The US will post Consumer Price Index data and Federal Budget Balance data. There are some important data to be released during the London session as well: UK will post GDP, Visible Trade Balance and Industrial Production data and Germany will reveal Wholesale Price Index data.

EUR/USD analysis for 10/08/2018:

Let's now take a look at the EUR/USD technical picture at the H4 time frame before the important data are released. The market has broken below the technical support at the level of 1.1507 and has hit the daily technical support at the level of 1.1445, but the spike down looks very strong and might not end soon. The momentum is pointing down to the south and it is way below its fifty level. The next technical support is seen at the level of 1.1365.

Beside the observing the situation on EUR/USD the market participants should keep an eye on USD/TRY pair as well.

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The material has been provided by InstaForex Company - www.instaforex.com

Global macro overview for 10/08/2018

The Canadian Dollar has had a roller coaster ride due to oil, after Saudi Arabia comments and leaks from NAFTA negotiations. A lot of confusion arose from the information that as a result of a diplomatic dispute between Canada and Saudi Arabia (Prime Minister Trudeau criticized the arrest of a Saudi activist), Riyad ordered the central bank and the national funds to sell Canadian assets. The amount coming into play is not big and should not have a clear impact on CAD, but the information has become an excuse for the movement fueled by a sell-off of crude oil. However, as the CAD market is unstable, it showed a dynamic retreat to the USD/CAD decline after reports that the US and Mexico have agreed on the trade of cars, which opens the way for further negotiations of the NAFTA agreement. Nevertheless, it does not look like the "Saudi factor" would be sustained for longer, and expectations for NAFTA (and the implications for tightening the BoC policy) in the longer horizon should play a greater role.

Today, the global investor's attention should be focused on another set of Canadain economy data in form of Unemployment Rate, Employment Change, Part-Time Employment Change and Participation Rate.

Let's now take a look at the USD/CAD technical picture at the H4 time frame. The market has tested the 50% Fibo retracement level and hit the technical resistance at the level of 1.3111 before the drop. Currently, the bulls are again trying to rally higher and the same level should be in play. In a case of a breakout higher, the next target for bulls is located at 61% Fibo at 1.3164. On the other hand, the immediate support is seen at the level of 1.3000. Please notice the positive momentum that supports the short-term bullish bias.

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Global macro overview for 10/08/2018

NZD/USD is the lowest since March 2016 after the RBNZ yesterday gave a clear justification for such a reaction. We were given a downward revision of the growth forecast, a reduced path for the OCR rate (forecast for an increase postponed by half a year for the third quarter of 2020), and the scenario in the case of materialization of negative risks now assumes a reduction of 50 bp and by 100 bp. In other words, the bank sees that the economy is slightly worse, which binds its hands for longer, and if it will be worse, it will be necessary to do more in the direction of loosening. And in the face of global trade tensions, the bar for negative revision of growth prospects is not suspended high. President Orr's subsequent press conference was more balanced (bilateral risks to growth), although highlighting the awareness of threats. In general, in the pigeon housekeeping of the main central banks, the RBNZ is explicitly sent to the first camp. This will be important in the following months, when the volatility will come alive, the market will forget about trade wars and focus on foundations.

The pressure on NZD will remain, as there is currently no reason to expect a hawkish change in the attitude of the RBNZ. In addition, on the market devoid of emotions in recent days, investors have finally received a "juicy" piece and will not easily give it away.

Let's now take a look at the NZD/USD technical picture at the H4 time frame. The market has broken below the technical support at the level of 0.6684 and currently is trading almost 100 pips lower, around the level of 0.6589. The local low was made at the level of 0.6580 in oversold market conditions. The momentum remains below its fifty level and still points to the north. The next important technical support is seen at the weekly time frame at the level of 0.6562.

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Bitcoin analysis for 10/08/2018

The US Securities and Exchange Commission (SEC) postpone the decision to introduce Bitcoin to trading on the stock exchange investment fund (ETF) by September 30, according to an official document issued by the SEC on August 7.

ETFs are securities that track a basket of assets that are proportionally represented in the fund's shares. They are perceived by some as a potential step forward in the mass adoption of cryptocurrencies as a regulated and passive investment vehicle.

The fund under consideration is powered by the investment company VanEck and the financial company SolidX and is expected to be listed on the BZX stock exchange at the Chicago Board of Exchange (CBOE). The SEC has now almost two months to consider the proposed change of rules by CBOE Global Markets Inc., which would allow the fund to list.

The announcement states that the SEC received over 1,300 comments on the proposed change to the list and trade of SolidX BTC shares issued by the VanEck SolidX Bitcoin Trust. The document says: "Accordingly, the Commission, pursuant to § 19 (b) (2) of Act 6, appoints 30 September 2018 as the date to which it will approve, reject or re-verify the proposed change".

Last month, the SEC delayed the decision by the investment company Direxion to apply for the ETF ETF until September 21. The Agency pointed to the fundamentally unregulated nature of cryptocurrency markets as the main reason for the rejection of the proposal, stating that when the spot market is unregulated, there must be significant regulated markets for derivative instruments linked to underlying assets.

Let's now take a look at the Bitcoin technical picture. The market Has bounced around $500, from the swing low at the level of $6,083 to the level of $6,594 and now is resuming the downtrend again. The next technical resistance is seen at the level of $6,782 and then at the level of $7,176. The momentum is still below its fifty level, but the market conditions are now oversold. The immediate support is seen at the level of $6,083.

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Fundamental Analysis of EUR/GBP for August 10, 2018

EUR/GBP has been quite bullish with the recent momentum which leads the price higher after breaching above 0.8850 area with a daily close recently. As of the recent economic, political and Brexit situation, GBP has been struggling to perform better against EUR which resulted in such impulsive bullish pressure in the process.

Today EUR French Industrial Production report is going to be published which is expected to increase to 0.5% from the previous negative value of -0.2%, French Prelim Private Payrolls report is expected to increase to 0.3% from the previous value of 0.2% and Italian Trade Balance is also expected to increase to 3.41B from the previous figure of 3.38B.

On the other hand, today the UK GDP report is going to be published which is expected to decrease to 0.2% from the previous value of 0.3%, Manufacturing Production is expected to decrease to 0.3% from the previous value of 0.4% and Prelim GDP is expected to increase to 0.4% from the previous value of 0.2%.

As of the current scenario, EUR is quite optimistic about the upcoming economic reports whereas GBP is still struggling with the dovish expectation of the high impact economic reports like GDP. If GBP performs better than expected, only then certain gain on the GBP may be observed or else EUR is expected to dominate further in the process.

Now let us look at the technical view. The price is expected to push lower towards 0.8950 area before pushing higher with the target towards the 0.9450 resistance area in the coming days. As the current price is quite away from the mean average of 20 EMA, so the price is expected to retrace towards 0.8950 before continuing the bullish momentum in the pair. As the price remains above the 0.8850 area with a daily close, the bullish bias is expected to continue further.

SUPPORT: 0.8850, 0.8950

RESISTANCE: 0.9450-0.95

BIAS: BULLISH

MOMENTUM: VOLATILE

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EUR/USD. US inflation may push the pair out of the range

The bears of the euro-dollar pair failed to break through the support level of 1.1510 to open the way for a further decline, taking a new price niche in the area of 13-14 figures. As soon as the downward impulse faded, the pair's bulls seized the initiative and returned the price to the 16th figure. However, the growth of the pair also looks uncertain, while the price is below 1.1650. As a result, due to the weakness of both bears and bulls, the pair flew in anticipation of the next news driver.

It should be noted that the European currency reacted relatively calmly to the news that Beijing will introduce additional 25-percent duties on US goods worth $16 billion. We are talking about metal products, oil, medical equipment and cars. The new tariffs will be effective from August 23 – that is, from the same day when Washington will impose duties on Chinese imports in the amount of 25%, in the amount of $16 billion.

Despite the new round of the trade war, the single currency remained almost on the same positions as the dollar. Although earlier the euro had reacted rather painfully to the escalation of the trade conflict, primarily because of the position of the European Central Bank, whose members closely monitor the dynamics of the trade conflict. Most likely, the reason for this stability lies in the latest reports from China. Exports and (especially) imports showed impressive results; China's foreign exchange reserves in July rose by $5.82 billion (instead of the expected decline of $12 billion).); inflation in annual terms is also growing for the third month in a row - published on Thursday, the figure for July was better than forecasts, reaching 2.1%. Also, the yuan, which fell against the dollar since April, suspended its decline.

This situation is holding back the weakening of the European currency, despite the ongoing trade war. Especially against the background of the decline in the dollar index, which in turn reacted to the decline in the yield of 10-year Treasuries. After all, the above-mentioned positive trends are largely offset by the actions of Washington and Beijing. It is obvious that at the moment none of the parties is ready to compromise and sits down at the negotiating table, so we expect more than one series of the US-Chinese "action-series".

However, macroeconomic reports from China play only an indirect role in determining the movement of the euro/dollar pair. On Friday, all the attention of traders of this pair will be focused on the release of data on the growth of US inflation. The consumer price index should show a positive (albeit minimal) trend, rising to 0.2% on a monthly basis and to three percent on an annual basis. The core inflation index is likely to remain at the June level (0.2% mom, 2.3% yoy). If the release comes out at a forecast level, the dollar will get a reason to strengthen – because in this case, the probability of a rate hike in September will approach 100%, and the chances of a December increase will increase again, up to 70-80%.

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Here it is worth recalling that at one of the recent Fed meetings, the views of the regulator members were divided: according to some officials, the level of inflation allows further tightening of monetary policy, but, according to their colleagues, the stability of inflation indicators is questionable. In this aspect, Friday's figures will play a special role. Bears of the EUR/USD will be enough if the CPI comes out at least at the forecast level. In turn, the bulls of the pair will be able to seize the initiative if the indicators come out or at the zero level or fall into the negative area. And the negative result of Friday's release will not affect the confidence of the market regarding the September rate hike (this issue is almost resolved) – the subject of discussion will be the possible tightening of monetary policy at the December meeting.

Thus, the data on the growth of US inflation will give another chance to either bulls or bears of the EUR/USD pair to break out of the flat range – that is, to either exceed the level of 1.1650 or to gain a foothold under the mark of 1.1510. If the release will be at the level of forecasts (or the minimum deviation), the pair is likely to remain within this price niche.

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But from a technical point of view, everything speaks of the priority of the downward movement. On the daily chart, the pair is under the Kumo cloud of the Ichimoku Kinko Hyo indicator, which formed a bearish "Parade of lines" signal. In addition, the price is located between the average and the lower lines of the Bollinger Bands indicator, which also indicates a downward movement. The nearest support level is 1.1510 (the lower line of the above indicator). The resistance level is the price of 1.1650 - the lower boundary of the Kumo cloud (on D1), which coincides with the average line of the Bollinger Bands indicator and with the Tenkan-sen line.

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Fundamental Analysis of AUD/JPY for August 10, 2018

AUD/JPY has been quite impulsive with the recent bearish gains which lead the price to reside below 82.00 support area with a daily close recently. Though the price has been quite volatile and corrective earlier as the price cleared one of the importance levels in the process, further bearish momentum is expected.

AUD has been struggling with the mixed economic reports recently which lead the currency to weaken further in the process against JPY. Today JPY Prelim GDP report was published with a significant increase to 0.5% from the previous negative value of -0.2% which was expected to be at 0.3%, PPI increased to 3.1% from the previous value of 2.8% which was expected to be at 2.9% and Prelim GDP Price Index performed better than expected at 0.1% though decreasing from the previous value of 0.5% but better than expected value of 0.0%.

On the AUD side, today RBA Monetary Policy Statement was held which was quite neutral with the outcome leading the currency to a certain indecisive phase in the process. Despite the mixed economic reports, economically AUD is a bit struggling to gain momentum in the market which resulted to further bearish pressure in the process.

As of the current scenario, JPY is expected to gain further over AUD resulting further bearish momentum in the process. As JPY performing better sentimentally and fundamentally, it is expected to dominate AUD further in the coming days.

Now let us look at the technical view. The price is currently residing below 82.00 area and dynamic level of 20 EMA with a daily close, which is expected to push the price much lower towards 80.50 area in the coming days. As the price remains below 84.50 area with a daily close, the bearish bias is expected to continue further.

SUPPORT: 80.50

RESISTANCE: 82.00, 84.50

BIAS: BEARISH

MOMENTUM: IMPULSIVE

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Elliott wave analysis of EUR/NZD for August 10, 2018

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After some sideways consolidation between 1.7352 - 1.7448 more upside will be expected towards the next minor upside targets at 1.7924 on the way higher towards 1.8369 and 1.8423.

Support is now seen at 1.7404 and again at 1.7352. Ideally the later will be able to protect the downside for a clear break above 1.7480 confirming the next part of the uptrend towards 1.7924.

Only a break below support at 1.7301 will question the expected rally higher.

R3: 1.7667

R2: 1.7564

R1: 1.7480

Pivot: 1.7437

S1: 1.7404

S2: 1.7388

S3: 1.7352

Trading recommendation:

We are long EUR from 1.7226 and we will raise our stop to 1.7275.

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Elliott wave analysis of EUR/JPY for August 10, 2018

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The break below support at 128.48 has shifted the preferred count in favor of a large expanded flat developing as wave ii. Under this count, the ideal target for wave C of ii is seen at 126.00 from where a new impulsive rally in wave iii should take over.

Time wise wave ii is approaching its limit, which is nine times the time-span of wave i. This time-limit is seen on August 30.

Short-term resistance is now seen at 128.48 and again at 129.00. The later should be able to cap the upside. A break above 129.00, will be the first warning that the corrective pattern in wave ii could have completed.

R3: 129.46

R2: 129.00

R1: 128.48

Pivot: 128.14

S1: 127.78

S2: 127.34

S3: 127.06

Trading recommendation:

Our stop at 128.45 was hit for a 27 pips loss. We will be looking for a new EUR-buying opportunity at 126.25 or upon a break above 129.00.

The material has been provided by InstaForex Company - www.instaforex.com

EUR/CHF Approaching Support, Prepare For A Bounce!

EUR/CHF is approaching its support at 1.1451 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce up to its resistance at 1.1548 (38.2% Fibonacci retracement, horizontal swing high resistance).

Stochastic (89, 5, 3) is approaching its support at 5.4% where a corresponding bounce could occur.

EUR/CHF is approaching its support where we expect to see it bounce.

Buy above 1.1451. Stop loss at 1.1412. Take profit at 1.1548.

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NZD/JPY Approaching Support, Prepare For A Bounce!

NZD/JPY is approaching its support at 72.68 (100% Fibonacci extension x2, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce up to its resistance at 74.95 (61.8% Fibonacci retracement, horizontal pullback resistance).

Stochastic (89, 5, 3) is approaching its support at 1.53% where a corresponding bounce could occur.

NZD/JPY is approaching its support where we expect to see it bounce.

Buy above 72.68. Stop loss at 71.76. Take profit at 74.95.

#theforexarmy #forexsigns #forexsignals #forexfamily #forexgroup #forexhelp #forexcourse #forextrade #forexdaily #forexmoney #forexentourage #forextrading #forex #forexhelptrading #forexscalping #babypips #forexfactory #forexlife #forextrader #financialfreedom #daytrader #scalper #swingtrader #fx #currency #pips #technicalanalysis #forexmarket

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BITCOIN Analysis for August 9, 2018

Bitcoin has been quite bullish today after the recent bearish impulsive pressure pushing the price lower after the rejection off the $8,500 area a few days back. Though the price has been quite indecisive throughout the day, it managed to remain inside the support area of $6000-6500 which does indicate that the bulls are still in the market with the hope of pushing higher in the future. Currently, a daily close above $6,500 is needed for further bullish pressure to form in the market which may lead the price towards $8,000 in the future. As the price remains above $6,000 area with a daily close, the bullish bias is expected to continue further.

SUPPORT: 6,000-6,500

RESISTANCE: 8,000, 10,000

BIAS: BEARISH

MOMENTUM: VOLATILE

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The material has been provided by InstaForex Company - www.instaforex.com

Daily EUR/USD review as of 08/09/18. Ichimoku Indicator

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EUR / USD

A complete reversal was formed yesterday from the resistance encountered (trend correction + day Fibo Kijun 1.1630), players failed to decline. The day candle of the previous day looks some kind of uncertainty. To determine the bearish potential that would allow us to fight again for the weekly bearish trend recovery (1.1508) and the breakdown of the weekly cloud (1.1515), the bearish sentiment must prevail today until next week as much as possible. In case of failure, the priority will shift to the recovery side of the center of attraction zone and uncertainty (1.1680).

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Because of the depth of the ascending correction, most of the lower time intervals are already tuned to support the players to increase and in no hurry to part with the bullish benefits. At the moment, the support zone 1.1580-70 (cloud H1 + cross H4) can play an important role. Preservation of the current location increases the chance of continuing the rise and return to the previous uncertainty zone, formed for a long time at higher times.

Indicator parameters:

all time intervals 9 - 26 - 52

Color of indicator lines:

Tenkan (short-term trend) - red,

Kijun (medium-term trend) - green,

Fibo Kijun is a green dotted line,

Chinkou is gray,

clouds: Senkou Span B (SSB, long-term trend) - blue,

Senkou Span A (SSA) - pink.

Color of additional lines:

support and resistance MN - blue, W1 - green, D1 - red, H4 - pink, H1 - gray,

horizontal levels (not Ichimoku) - brown,

trend lines - purple.

* The presented market analysis is informative and does not constitute a guide to the transaction.

The material has been provided by InstaForex Company - www.instaforex.com

Trading plan for the US session August 9 GBP/USD

To open long positions for GBP/USD, it is required:

Buyers were able to hold the weekly lows and formed a false breakout and a new lower limit around 1.2843. However, it is still necessary to break through the level of 1.2893 to resume the corrective growth. Only after a consolidation at this range, you can count on an upward trend in the region at 1.2943 and 1.2996. In the event of a decline in the pound in the afternoon, support will be provided by the area of 1.2843 and 1.2815.

To open short positions for GBP/USD, it is required:

A breakout and consolidation below the level of 1.2853 in the first half of the day turned out to be a false signal for selling. At the moment, sellers are trying to keep the pair below 1.2893, and so far they manage to do it. However, it is best to consider new short positions on the rebound from the greater resistance of 1.2943.

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Indicator description

  • Moving Average (average sliding) 50 days - yellow
  • Moving Average (average sliding) 30 days - green
  • MACD: fast EMA 12, slow EMA 26, SMA
  • Bollinger Bands 20
The material has been provided by InstaForex Company - www.instaforex.com