Wave analysis of EUR / USD for August 15. The construction of the impulse wave 3 continues

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Analysis of wave counting:

During the trades on Tuesday, the currency pair EUR / USD lost another 65 percentage points. Thus, wave 3, 5, continues its construction and can turn out to be very long. If that assumption is true, then the entire wave 5 can also take a very complex and extended form. The closest target is the Fibonacci level of 200.0%. An unsuccessful attempt to break through the 200.0% mark may lead to a small withdrawal of quotations from the minimum reached while maintaining a high probability of execution of the working variant.

The objectives for the option with sales:

1.1272 - 200.0% of Fibonacci

1.1125 - 261.8% 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 pair continues to build a bearish set of waves. Thus, I recommend that the pair stays in sales with targets located near the calculated marks of 1.1272 and 1.1125, which corresponds to 200.0% and 261.8% of Fibonacci. We do not have to return to the purchases of the bases right now, since wave 3, 5, does not look complete, and the entire descending section of the trend can turn out to be very long.

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GBP / USD. August 15. The trading system "Regression channels". All attention to inflation in the UK

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: -112.8513

The currency pair GBP / USD on August 14 did not manage to even properly correct. Just a few small purple bars and a descending movement resumed. Thus, risk currencies, in particular, the European ones, continue to enjoy minimal demand in the foreign exchange market. And the reasons for this remain the same, especially in the UK, where market participants do not observe any positive changes. Today in the United Kingdom will be published inflation for July. It is expected that the consumer price index will accelerate to 2.5%. How will traders react to this report? Most likely, in any way. Inflation in the current environment is extremely low for the UK economy. The Bank of England raised the stake at the last meeting, and many experts believe that such a decision was hasty. That first it was necessary to deal with all internal problems, in particular with Brexit, and only then to tighten monetary policy. Thus, even the acceleration of inflation is unlikely to support the pound sterling. American reports on retail sales and industrial production are also unlikely to significantly affect the mood of investors. Thus, the downward movement is likely to continue until traders begin to fix the positions trivially, believing that even lower the pair will not go away. Determine this point can be on technical indicators.

Nearest support levels:

S1 - 1.2695

S2 - 1,2573

S3 - 1.2451

Nearest resistance levels:

R1 = 1.2817

R2 = 1.2939

R3 = 1.3062

Trading recommendations:

The pair GBP / USD resumed its fall. Thus, now it is recommended to stay in short positions or to increase them with the goal of 1,2573. The rebound of the price from the level of 1.2695 can provoke a correction loop, which can confirm the turn of Heikin Ashi upward.

Buy-positions can be considered only after fixing the price above the moving average line with the target of 1.2939. In this case, it can be assumed that the bears at the current stage decided to fix the profit and for a while give the initiative to the bulls.

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

EUR / USD. August 15. The trading system "Regression channels". Weak response from Erdogan and Trump

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.

СCI: -100.4550

The currency pair EUR / USD resumed the downward movement on August 14 after a minimal upward correction. Thus, the European currency is still in a downward trend. In the meantime, Turkish President Erdogan called on the population to boycott the purchase of American-made goods and move to settlements in lira, instead of the dollar. Honestly, the response of the leader of Turkey to Trump duties is still very weak. It should be understood that the call for a boycott is not specific sanctions or bans that can give concrete results. Given the popularity of Apple's technology, a very small number of Turkish citizens will really refuse to buy the goods of this brand. Thus, we state the fact: so far there has been no response to the US sanctions from Erdogan. This means that the Turkish lira can continue its decline against the US dollar, and together with the lira and the euro. Today in the US will be published reports on changes in the volume of industrial production and retail sales. However, as we have already said, traders now pay a very indirect attention to any macroeconomic reports. Thus, both US reports should fail today, so that traders would at least fix profit on dollar positions. Otherwise, the downward movement is likely to continue.

Nearest support levels:

S1 - 1.1292

S2 - 1.1230

S3 - 1.1169

Nearest resistance levels:

R1 = 1.153

R2 = 1.1414

R3 = 1.1475

Trading recommendations:

The currency pair EUR / USD resumed its downward movement. Thus, today it is recommended to stay in shorts or open new ones with the targets of 1.1292 and 1.1230. Turning indicator Heikin Ashi up, signal to manually close orders for sale.

Long positions are recommended to be considered only after fixing the price above the moving average line with the target of 1.1536. In this case, the initiative on the instrument, at least for a while, will pass into the hands of bulls.

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 lowest linear regression channel is the violet lines of unidirectional motion.

CCI - the blue line in the indicator window.

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

Trading plan for the European session on August 15 EUR/USD

To open long positions for EUR / USD, you need:

The longest positions in the euro are best returned after the formation of a false breakdown at the intermediate support level 1.1313, which will lead to an upward correction to the 1.1371 resistance area. A consolidation above this level will allow to update the weekly maximum in the 1.1431 area. In the event of a further decline in the euro, long positions can be found in the support areas of 1.1251 and 1.1215.

To open short positions for EUR / USD, you need:

The formation of a false breakout at resistance 1.1371 or a return to support level 1.1313, will be another signal for opening short positions in the European currency with the target of breaking the weekly minimum and renewing refreshed areas 1.1251 and 1.1215, where it is recommended to fix profits. In case of an increased in EUR/USD pair above 1.1371 in the morning, you can sell for a rebound from 1.1431.

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Indicators Description:

  • MA (average sliding) 50 days - yellow
  • MA (average sliding) 30 days - green
  • MACD: fast EMA 12, slow EMA 26, SMA 9
  • Bollinger Bands 20

* 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

Brent unravels the riddles of Riyadh

Saudi Arabia's report on the reduction in oil production in July by 20 thousand b / s stirred the market of black gold. According to secondary sources, the indicator even fell by 53 thousand b / s, and investors are actively discussing what is happening? Why is the OPEC leader, one of the first responders to Donald Trump's calls to increase production to contain price increases, now gives a backup? Riyadh responds simply, oil refineries are no longer needed, but when did their interests become the cornerstone of the nationwide strategy?

In the second half of the summer, the oil market fell into a logical consolidation, balancing the long-term "bullish" driver in the form of a reduction in Iranian exports by about 1 million b / s and short-term "bearish" factors. OPEC and Russia had to close the hole. Both the cartel and Moscow increased production in July by 41 thousand and 20 thousand b / s, respectively, but for whatever reasons, Saudi Arabia turned out to be a problem, remains a mystery. Some investors argue that Riyadh does not want to allow a sharp decline in prices. He is satisfied with a range of $ 70-80 per barrel in the North Sea grade. Others are sure that the Saudis do not want to get rid of Iran, which actively resisted the idea of increasing production at the last OPEC summit. Still, others suggest that official statistics were understated in order to prevent a sharp collapse of Brent and WTI.

Dynamics of Brent and oil production by Saudi Arabia

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In my opinion, Riyadh will not be able to play this game for a long time, and in the near future, the markets will return to the idea of their own balance. At the same time, the cartel's reduction in forecasts of growth in demand for its own oil in 2018 to +1.64 million b / s and in 2019 to +1.43 million b / s speaks of OPEC's concern about the prospect of slowing global GDP. Protectionism and trade wars already affect the economies of China, the eurozone, and developing countries, if the US also faces the effect of fading the effect of the fiscal stimulus, the world GDP will not get better.

There are "bulls" for Brent and WTI and another cause for concern. According to OPEC studies, oil production outside the cartel will increase by 2.13 million b / d next year, which is by 30 thousand b / s more than in the July forecast. The main increase will come from the States. Indeed, the US Energy Information Administration expects that the production of black gold from 7 major shale sources will increase by 93 thousand b / s in September and reach the level of 7.52 million b / s. Let me remind you that at current price levels, US companies have the opportunity to actively increase production, hedging the risks through futures contracts.

Technically, Brent "bears" for the second time in the last couple of weeks have tried to test the important support at $ 71.35-71.9 per barrel. Both times ended in a fiasco, which allows talking about the weakness of the sellers and inspires the bulls to continue the attack towards the lower boundary of the rising long-term trading channel.

Brent, the daily chart

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Fractal analysis for major currency pairs as of August 15

Dear colleagues.

For the EUR / USD pair, we have expanded the potential for the downward movement towards the level of 1.1245. For the GBP / USD pair, we follow the development of the local downward cycle from August 7. For the of USD / CHF pair, we follow the formation of the upward structure of August 9. The development of this level is expected after the breakdown of 0.9972. The level of 0.9915 is the key support. For the USD / JPY pair, we follow the development of the upward cycle from August 13. The continuation of the upward movement is expected after the breakdown of 111.50. For the EUR / JPY pair, the price is in correction and forms the potential for the top of August 13. For the GBP / JPY pair, the price is in correction and forms the potential for the top of August 13.

Forecast for August 15:

Analytical review of currency pairs in the scale of H1:

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For the EUR / USD pair, the key levels on the scale of H1 are: 1.1539, 1.1471, 1.1433, 1.1403, 1.1360, 1.1335, 1.1282 and 1.1245. Here, we expanded the potential for the downward movement towards the level of 1.1245. Upon the reaching this level, we expect consolidation in the area of 1.1282 - 1.1245. The continuation of the movement downwards is possible after the passage at the price of the noise range at 1.1360 - 1.1335. In this case, the target is 1.1282.

Short-term upward movement is possible in the area of 1.1403 - 1.1433. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1471. This level is the key support for the downward structure. Its breakdown will lead to the development of an upward movement. In this case, the target is 1.1539.

The main trend is the local downward structure of August 8.

Trading recommendations:

Buy: 1.1403 Take profit: 1.1431

Buy 1.1435 Take profit: 1.1470

Sell: 1.1333 Take profit: 1.1284

Sell: 1.1280 Take profit: 1.1247

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For the GBP / USD pair, the key levels on the scale of H1 are 1.2907, 1.2825, 1.2763, 1.2727, 1.2684, 1.2655, 1.2601 and 1.2561. Here, we continue to follow the local downward cycle from August 7. The continuation of the downward movement is expected after passing the price of the noise range at 1.2684 - 1.2655. In this case, the target is 1.2601. The potential value for the bottom is the level of 1.2561. After reaching this level, we expect consolidation in the area of 1.2601 - 1.2561.

Short-term upward movement is possible in the area of 1.2727-1.2763. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2825. This level is the key support for the bottom. Passing by the price will lead to the formation of the initial conditions for the top. In this case, the potential target is 1.2907 .

The main trend is the local downward structure of August 7.

Trading recommendations:

Buy: 1.2727 Take profit: 1.2760

Buy: 1.2765 Take profit: 1.2822

Sell: 1.2655 Take profit: 1.2604

Sell: 1.2658 Take profit: 1.2562

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For the USD / CHF pair, the key levels on the scale of H1 are: 1.0030, 1.0001, 0.9991, 0.9972, 0.9956, 0.9927, 0.9915, 0.9897 and 0.9878. Here, we continue to follow the formation of the upward structure of August 9. The continuation of the upward movement is expected after the breakdown of 0.9956. In this case, the target is 0.9972. The breakdown of this level, in turn, should be accompanied by a pronounced upward movement towards the level of 0.9991. In the area of 0.9991 - 1.0001 is the consolidation of the price. The potential value for the top is level 1.0030. From this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 0.9927 - 0.9917. The breakdown of the last value will lead to the development of a downward structure. Here, the target is 0.9897. The potential value for the bottom is the level of 0.9878.

The main trend is the formation of the upward structure of August 9.

Trading recommendations:

Buy: 0.9956 Take profit: 0.9970

Buy: 0.9974 Take profit: 0.9990

Sell: 0.9925 Take profit: 0.9915

Sell: 0.9913 Take profit: 0.9898

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For the USD / JPY pair, the key levels on a scale are: 112.19, 111.99, 111.70, 111.49, 111.20, 111.02 and 110.72. Here, we follow the development of the upward cycle of August 13. Short-term upward movement is expected in the area of 111.49 - 111.70. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 111.99. The potential value for the top is the level 112.19. Upon reaching this level, we expect consolidation as well as a pullback downwards.

Short-term downward movement is possible in the range of 111.20 - 111.02. The breakdown of the last value will lead to in-depth correction. Here, the target is 110.72. This level is the key support for the top.

The main trend is the upward structure of August 13.

Trading recommendations:

Buy: 111.50 Take profit: 111.68

Buy: 111.72 Take profit: 111.95

Sell: 111.20 Take profit: 111.03

Sell: 111.00 Take profit: 110.74

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For the CAD / USD pair, the key levels on the H1 scale are: 1.3121, 1.3095, 1.3077, 1.3047, 1.3030, 1.2995 and 1.2968. Here, we follow the formation of the downward structure of August 13. The continuation of the downward movement is expected after passing the price of the noise range at 1.3047 - 1.3030. In this case, the target is 1.2995. The potential value for the bottom is the level of 1.2968. Upon reaching this level, we expect a rollback to the top.

Short-term upward movement is possible in the area of 1.3077 - 1.3095. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3121. This level is the key support for the bottom. Passing by the price will lead to the development of the upward structure. Here, the potential target is 1.3167.

The main trend is the formation of a downward structure from August 13.

Trading recommendations:

Buy: 1.3077 Take profit: 1.3093

Buy: 1.3097 Take profit: 1.3120

Sell: 1.3030 Take profit: 1.2997

Sell: 1.2992 Take profit: 1.2970

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For the AUD / USD pair, the key levels on the scale of H1 are: 0.7373, 0.7338, 0.7310, 0.7260, 0.7236, 0.7173, 0.7132 and 0.7080. Here, we follow the development of the downward structure of August 9. At the moment, we expect the movement towards 0.7173. In the area of 0.7173 - 0.7132 is short-term downward movement as well as the consolidation of the price. The potential value for the downward movement is, for the time being, the level of 0.7080. After reaching this level, we expect a pullback to the top.

Short-term upward movement is possible in the area of 0.7310 - 0.7338. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7373. This level is the key support for the downward structure.

The main trend is the downward structure of August 9.

Trading recommendations:

Buy: 0.7310 Take profit: 0.7336

Buy: 0.7339 Take profit: 0.7370

Sell: 0.7236 Take profit: 0.7175

Sell: 0.7170Take profit: 0.7134

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For the EUR / JPY pair, the key levels on the scale of H1 are: 128.04, 127.35, 126.69, 126.28, 125.48 and 124.82. Here, the price is in correction and forms a small potential for the top of August 13. A breakdown at the level of 125.48 will lead to a short-term downward movement. In this case, the potential target is 124.82. From this level, there is a high probability of a turn up. The short-term upward movement is possible in the area of 126.28 - 126.69. The breakdown of the last value will lead to in-depth movement. Here, the target is 127.35. This level is the key support for the downward structure from August 1. Passing by it will lead to the formation of the initial conditions for the upward cycle. In this case, the target is 128.04.

The main trend is the formation of the potential for the top of August 13 in the correction.

Trading recommendations:

Buy: 126.28 Take profit: 126.67

Buy: 126.71 Take profit: 127.33

Sell: 125.46 Take profit: 124.87

Sell: Take profit:

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For the GBP / JPY pair, the key levels on the H1 scale are: 143.33, 142.81, 141.98, 141.49, 140.52 and 139.78. Here, the price is in correction and forms a small potential for the top of August 13. Short-term downward movement is possible in the area of 140.52 - 139.78. From the level of 139.78, we expect a key upward turn. The short-term upward movement is possible in the area of 141.49 - 141.98. The breakdown of the last value will lead to in-depth correction. Here, the target is 142.81. The range of 142.81 - 143.33 is the key support for the downward cycle. Before reaching it, we expect the initial conditions for the top to be formalized.

The main trend is the formation of the potential for the top of August 13 in the correction.

Trading recommendations:

Buy: 141.50 Take profit: 141.95

Buy: 142.00 Take profit: 142.80

Sell: 140.50 Take profit: 139.85

Sell: Take profit:

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NZD/USD Intraday technical levels and trading recommendations for August 15, 2018

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Breakdown of 0.7220-0.7170 (neckline zone) was needed for a bearish breakout of the depicted consolidation range (0.7170 and 0.7350).

Quick bearish decline took place towards 0.6700-0.6800 where narrow ranged consolidation range was established.

On July 7, evident bullish rejection pushed the NZD/USD pair above 0.6820 temporarily.

However, lack of bullish momentum made the bulls fail to maintain enough bullish momentum above 0.6700.

On August 9, bearish breakout below the depicted consolidation range (0.6700-0.6840) was executed. This allowed the current bearish decline to occur towards 0.6600-0.6570.

The NZD/USD pair outlook turned to be bearish. Bearish targets are projected towards the price levels of 0.6520 and 0.6480.

On the other hand, conservative traders should wait for bullish pullback towards 0.6700-0.6720 for a low-risk SELL entry.

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

Intraday technical levels and trading recommendations for EUR/USD for August 15, 2018

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Daily Outlook

In April 2018, the EUR/USD pair outlook turned to become bearish when the pair pursued trading below the lower limit of the depicted consolidation range (1.2200).

The price level of 1.1500 offered temporary bullish recovery towards 1.1830. The EUR/USD bulls failed to pursue towards higher bullish targets.

Instead, a descending high was established around 1.1800.

Currently, the EUR/USD pair is testing the price zone of 1.1450-1.1370 (demand zone) where the depicted trend lines are located on the depicted weekly chart.

As anticipated, bearish closure below 1.1400 was achieved. This allowed a quick decline towards 1.1300.

For further bearish decline to occur, the pair needs obvious bearish breakdown below 1.1375. Initial bearish targets would be located around 1.1275 then 1.1120 if enough bearish pressure is applied.

Hence, the EUR/USD short-term outlook remains bearish towards the mentioned levels unless bullish breakout above 1.1420 is achieved. This would pause the ongoing bearish momentum allowing bullish pullback to take place.

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

The Turkish crisis: a temporary halt or return to normal?

The Turkish crisis: a temporary halt or return to normal?

On Tuesday, the fall of the Turkish lira has stopped and there has been some recovery. The media write about some Turkish companies particularly, Vakifbank TAS and Turkcell AS. They bought their significantly cheaper bonds from the market, although this is a small amount of $10-15 million.

The head of Turkey, Erdogan, in response to unfriendly US actions where Trump introduced duties against Turkish steel and aluminum, called for a boycott of electronics produced in the US. it is primarily about Apple products - iPhone. Erdogan called for switching to Samsung products or Turkish Vestel.

Now, it is difficult to say whether Turkey will manage to avoid a new wave of sales of the lira but the first stop is a positive signal.

This may be a signal for the recovery of the euro after a strong fall. It is the decline in lira and risks for several banks in the euro area that have loans to Turkish borrowers in the portfolio, led to a fall of the euro against the dollar below 1.1500.

On Tuesday evening, the EUR/USD exchange rate is trading at about 1.1380 and, perhaps, will make a breakthrough attempt at 1.1360.

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

Bitcoin analysis for August 15, 2018

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Trading recommendations:

According to the 30M time frame, I found that price rejected from the pivot resistance cluster (weekly pivot and daily R2) at the price of $6.445. I also found broken upward channel and hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $6.045 and at the price of $5.840.

Support/Resistance

$6.455 – Intraday resistance

$6.240– Intraday support

$6.045 – Objective target 1

$5.840 – Objective target 2

With InstaForex you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader4.

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Analysis of EUR / USD Divergences on August 15. Euro falls again and prepares for a new correction

4h

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The EUR / USD pair cleared the correction level of 127.2% at 1.1431 and the turn was in favor of the US currency with a fall to the level of Fibo 161.8% at 1.1333. Exiting the prices from the correction level of 161.8% will allow the counting of the currency in the EU currency and some growth in the direction of the correction level of 127.2%. Maturing bullish divergence in the MACD indicator was on August 15, which also allows you to expect growth of the pair. The consolidation of the exchange rate under the Fibo level of 161.8% will increase the chances of further falling to the next correction level of 200.0% at 1.1227.

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

Daily

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On the 24-hour chart, the pair continues the decline in the direction of the correction level of 127.2% at 1.1285. Today, there is no visible divergence in any indicator. The retracement of the pair from the correction level of 127.2% will allow traders to expect a turn in favor of the Euro and some growth in the direction of the Fibo level of 100.0% at 1.1553. The closing of the pair's quotes under the correction level of 127.2% will work in favor of continuing the fall towards the next level of Fibo 161.8% at 1.0941.

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

Recommendations for traders:

Purchases of the EUR / USD pair will be possible at 1.1431 with a Stop Loss order at 161.8%, if the pair retreats from the correction level of 1.1333, especially in conjunction with the bullish divergence.

New sales of the EUR / USD pair can be opened with the target of 1.1227 if the pair completes the closing under the Fibo level 161.8%, with the Stop Loss order above the level of 1.1333.

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

Analysis of Gold for August 15, 2018

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Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,184.20. According to the M30 time – frame, I found a broken bearish flag in the background, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities on the rallies. The downward target is set at the price of $1,179.00.

Resistance levels:

R1: $1,197.00

R2: $1,201.07

R3: $1,204.00

Support levels:

S1: $1,190.65

S2: $1,187.80

S3: $1,184.00

Trading recommendations for today: watch for potential selling opportunities.

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

EUR/USD analysis for August 15, 2018

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Recently, the EUR/USD pair has been trading downwards. As I expected, the price tested the level of 1.1315. According to the M30 time – frame, I found that price is trading below the daily pivot (1.1366), which is a sign that sellers are in control. I also found that price is below macd predictor, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1269 and at the price of 1.1236.

Resistance levels:

R1: 1.1404

R2: 1.1465

R3: 1.1503

Support levels:

S1: 1.1305

S2: 1.1269

S3: 1.1206

Trading recommendations for today: watch for potential selling opportunities.

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

Ethereum analysis for 15/08/2018

Ethereum, the second largest cryptocurrency in terms of market capitalization, recorded the lowest price of the year, falling to $246. The price dropped by as much as 17%, including the lowest level since September 2017. In addition, Ethereum's profitability decreased to historically low levels, 0.0243 a dollar of profit per day for 1 M Hash/ s.

While many investors believe that the worst is over, Spencer Bogart from Blockchain Capital says that "pain" may be far from over because there are still hundreds of thousands, if not millions of ETH, which are ready for mass sales on the stock exchanges: "Investors are increasingly disappointed with tokens and ICOs, most of which have been launched at the top of the fame of Ethereum and see that the market is playing with constant downward price pressure"

Ethereum, being a platform for decentralized applications, is ultimately associated with the success of its derivative platforms. Although nothing can be downloaded for one reason, it can not be denied that most of the ETH-based platforms failed in 2018. According to data from the Deadcoins portal, in 2018 more than 1000 cryptocurrency projects have already fallen. Some have failed due to technical incompetence of the team, while the rest are mostly scams and financial pyramids.

Let's now take a look at the ETH/USD technical picture at the H4 time frame. The market has made a new local low at the level of $246.61 and now the price is trying to bounce from the extremely oversold conditions. The next technical resistance is seen at the level of $301, but to reverse the downtrend the bulls would have to push the prices towards the 61% Fibo retracements at the level of 409.89. Any moves below this level will be considered as a temporary pull-back in an ongoin downtrend.

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Global macro overview for 15/08/2018

Moscow is still interested in trading with Ankara using the Russian ruble and Turkish lira. Both currencies fell compared to the US dollar, and TRY sets new records every day.

"The issue of using national currencies in interstate commerce is a topic which the Russian side has been dealing with for a long time and consistently at various levels, including at the highest level - said the Kremlin's spokesman Dmitry Peskov. "This is what we strive for in our bilateral trade and economic relations and what has been repeatedly mentioned in bilateral Russian-Turkish talks," he added.

Lira dropped to a record low of 7.20 against the dollar, and then strengthened to 6.16 on Wednesday amid increasing pressure from new US sanctions. Washington began to exert economic pressure on Ankara after the arrest of the American priest Andrew Brunson in Turkey. Brunson is accused of helping in an unsuccessful military coup in 2016. He is facing 35 years in prison in a Turkish prison.

Let's now take a look at the USD/TRY technical picture at the H4 time frame. The market so far has made a swing high at the level of 7.11 and since then the rate is plummeting towards the technical levels of 6.41 and now towards 5.43. The last one is the most important technical support for the price before the 4.97 level. So far the low was made at the level of 5.90 and the indications like RSI and Stoch are pointing to the downside but in the current unstable macroeconomic environment might be a much more important factor to impact the market behavior anyway.

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Technical analysis of GBP/USD for August 15, 2018

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Overview:

The daily pivot point is seen at the price of 0.2780. The GBP/USD pair hit the weekly support levels of 0.2780 and 0.2722 last week. Thus, it dropped down in order to bottom at the point of 1.2780. Today, the pair is trading below its pivot point (1.2780). It is likely to trade in a higher range as long as it remains below the level of 1.2780. Hence, the minor resistance was already set at the level of 1.2780. Moreover, the weekly resistance is also coinciding around the major support around the area of 1.2837. Additionally, the RSI is still calling for a strong bearish market as well as the current price is also below the moving average 100. Therefore, it will be advantageous to sell below the current level of 1.2780 with the first target at 1.2700. From this point, if the pair closes below the dily support of 1.2700 on the H1 chart, the GBP/USD pair may resume its movement to 1.2670 in order to retest the weekly support 2. On the other hand, stop loss should always be taken into account, accordingly, it will be beneficial to set the stop loss below the last bullish wave at 1.2840.

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Trading plan for 15/08/2018

Both European and American stock market investors ended yesterday in minor moods. Today the situation looks a bit different. In Europe, we watched the mixed closing of the trading session. The growth was made by companies from Belgium, Poland and Hungary, while declines were recorded on the French, Italian and Spanish stock exchanges. The situation is much better in the case of the US stock market. After the first three hours of the session, all three main indexes gain, with the largest increases recorded by technology companies from the Nasdaq index.

The Canadian and New Zealand dollar is doing well in the currency market. The depreciation is, in turn, experienced by the euro and the currency of Norway. In the case of the emerging market, it is worth mentioning the reverse of the Turkish lira. The currency of Turkey today negates some recent declines and now the USD/TRY rate is around 6.45. Against the background of emerging market currencies, the Polish zloty is weak today, gaining only against the shekels, the Hungarian forint and the Czech koruna.

Looking at the raw materials market, we see quite a good condition of precious metals. Let us remind you that this group of metals experienced a strong sell-off yesterday. In turn, today's sale is observed on the market of industrial metals, where copper and tin are particularly hard to lose. After recent large drops, soy prices are now reflected. On the oil market flat before the publication of the API report on "black gold" inventories.

On Wednesday, the 15th of August, the event calendar is light in important data releases, but the global investors should keep an eye on Consumer Price Index Data from the UK and Retail Sales, NY Fed Empire State manufacturing index, Non-Farm Productivity, Labor Cost and Industrial Production data from the US. No speeches are scheduled for today as well.

GBP/USD analysis for 15/08/2018:

The main event today will be the CPI data release from the UK. The market participants expect no change in inflationary pressures on a monthly basis (0.0%), but expect a tick up from 2.4% to 2.5% on a yearly basis. The Core CPI should remain unchanged at 1.9% as well. Any difference from the consensus will be a big surprise for markets and the market participants will act accordingly: bigger than expected CPI figures should make the GBP to strengthen across the board.

Let's now take a look at the GBP/USD technical picture at the H4 time frame. Despite the extremely oversold market conditions and the ongoing bullish divergence, the price has made another local low at the level of 1.2689. In this trend, the next target for bears is seen at the level of 1.2603 - 1.2586. On the other hand, the nearest technical resistance is seen at the level of 1.2793 and 1.2818, but the game-changing level is still at 1.2956.

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Technical analysis of AUD/USD for August 15, 2018

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Overview:

The AUD/USD pair opened below the weekly pivot point (0.7234). It continued to move downwards from the level of 0.7234 to the bottom around 0.7202. But the pair rebounded towards the daily pivot point again. Today, the first resistance level is seen at 0.7263 followed by 0.7299, while daily support 1 is seen at 0.7167. Furthermore, the moving average (100) starts signaling a downward trend; therefore, the market is indicating a bearish opportunity below 0.7234. So it will be good to sell at 0.7234 with the first target of 0.7167. It will also call for a downtrend in order to continue towards 0.7135.

The strong daily support is seen at the 0.7135 level on the H1 chart. According to the previous events, we expect the AUD/USD pair to trade between 0.7234 and 0.7135 in coming hours. The price area of 0.7299 remains a significant resistance zone. Thus, the trend is still bearish as long as the level of 0.7299 is not broken. On the contrary, in case a reversal takes place and the AUD/USD pair breaks through the resistance level of 0.7299, then a stop loss should be placed at 0.7330.

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Bitcoin analysis for 15/08/2018

The Communist Party of China aims to make knowledge about Blockchain technology the norm in public offices, thanks to the publication of a guide for officials and members.

The publication, published by the People's Daily publishing house, is titled "Blockchain - A Guide for Officials." Starting from the explanation of the origin and characteristics of Blockchain technology, the guide describes the current and future applications and challenges that technology brings to the business and legal industries. According to the People's Daily newspaper, the initiative aims to help state officials to better understand Blockchain as part of a wider effort to facilitate the development and adaptation of technology: "Blockchain's greatest influence lies in his mechanism of action ... which seeks to achieve consensus as a way of managing the community. It offers us a new angle of thinking and solving various problems" Ye Zhenzhen, director of People's Daily, writes in the book.

This movement appeared shortly after Chinese President Xi Jinping recognized the potential of Blockchain in a public speech, in which he noted that this technology is one of the few breakthroughs that changed the global economy.

At present, one of the ministries at the government level operating under the Council of State of China also develops the Blockchain standardization framework to help create regulatory guidelines for the development of technology in the country.

Let's now take a look at the Bitcoin technical picture at the H4 time frame. After the market made a local low at the level of $5,843 the bounce towards the nearest technical resistance occurred. Currently, the market is trading at the level of the weekly pivot at $6,426, but the target is still seen at the level of $6,514 or even $6,597. The clear bullish divergence between the price and the momentum indicator supports the short-term bullish bias.

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BITCOIN Analysis for August 15, 2018

Bitcoin has rejected off the $6,000 area with a daily close yesterday that is expected to lead to further bullish momentum in the coming days. Though impulsive bullish pressure is not ruled out, a daily close above $6,500 is required to have further impulsive momentum which might lead the price towards the target of $8,000 area in the coming days. Meanwhile, a daily close above $6,500 is expected to inject further bullish momentum. As the price remains above $6,000 with a daily close, the bullish bias is likely to continue further despite the dynamic levels like 20 EMA, Tenkan and Kijun line which might work as resistance in the process.

SUPPORT: 6000, 5500, 5000

RESISTANCE: 6500, 8000

BIAS: BEARISH

MOMENTUM: VOLATILE

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Fundamental Analysis of EUR/JPY for August 15, 2018

EUR/JPY has been impulsive amid bearish pressure which earlier led the price from 129.50 area to the present 125.50 support area. EUR has been struggling due to the ongoing trade war tensions and the Brexit situation, whereas positive economic reports from Japan provided the required push for the currency to gain momentum.

This week on Tuesday, Japan's Revised Industrial Production report was published with an increase to -1.8% which was expected to be unchanged at -2.1%. The positive economic report helped JPY to regain the momentum it had lost recently against EUR. Tomorrow, Japan's Trade Balance report is going to be published which is expected to decrease to 0.02T from the previous figure of 0.07T. Though the forecast is downbeat, better-than-expected score is expected to increase the momentum of JPY gains for a while.

On the other hand, ahead of the Eurozone's Final CPI report to be published on Friday which is expected to be unchanged at 2.1%, today few impactful economic reports are due because the Assumption day is celebrated in Germany and Italy. Tomorrow, the Eurozone's Trade Balance report is going to be published which is expected to increase to 17.0B from the previous figure of 16.9B and German WPI is expected to be unchanged at 0.5%.

As of the current scenario, EUR is still quite indecisive having neutral forecasts for the upcoming economic reports to be published whereas if JPY manages to perform better with the upcoming reports, further gain on the JPY side is expected in the pair for the coming days.

Now let us look at the technical chart. The price is currently residing at the edge of 125.50 area from where the price is expected to retrace a bit higher before pushing lower towards 124.50 in the future. Though the dynamic levels are bit higher than the current price, certain bearish momentum is expected in the pair before it starts to push higher after the daily rejection off the 124.50 area. As the price remains above 124.50, certain bullish intervention is expected in the process.

SUPPORT: 124.50, 125.50

RESISTANCE: 129.50

BIAS: BEARISH

MOMENTUM: VOLATILE

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Daily review of GBP/JPY as of August 14, 2018. Ichimoku Indicator

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GBP / JPY

Players on the increase took advantage of the monthly Kijun (140.69) and currently forms an upward correction. The nearest support of this recovery for today is the daily short-term trend (143.43). In this situation, we can combine efforts to passed the minimum extremum level (143.17). As a result, the zones 143.20-40 can become a good reference point for retest and completion of the upward correction. The fastening above will require refinements and a new analysis, since the monthly Kijun may form a pullback, and the upward correction will receive weekly support.

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At the lower halves, the pair are now at significant borders. The task of players to raise is currently in the breakdown of the H1 cloud and the elimination of the death cross H4 (Kijun 142.24). Achieving these conditions will significantly increase the advantages of bulls and formed the first upward target for the breakdown of the H1 cloud. In this case, the support for recovery will be focused in the area of 143.20-40 (the target of the H1 cloud + H4 cloud + levels of higher periods).

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

Technical analysis: Intraday level for USD/JPY, Aug 15, 2018

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In Asia, Japan today will not release any Economic Data, but the US will release some Economic Data such as TIC Long-Term Purchases, Crude Oil Inventories, NAHB Housing Market Index, Business Inventories m/m, Industrial Production m/m, Capacity Utilization Rate, Prelim UnitLabor Costs q/q, Prelim Nonfarm Productivity q/q, Empire State Manufacturing Index, Retail Sales m/m, and Core Retail Sales m/m. So there is a probability the USD/JPY pair will move with low to medium volatility during this day. TODAY'S TECHNICAL LEVEL: Resistance. 3: 111.96. Resistance. 2: 111.74. Resistance. 1: 111.52. Support. 1: 111.25. Support. 2: 111.03. Support. 3: 110.81. Disclaimer: Trading Forex (foreign exchange) on margin carries a high level 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 carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis: Intraday Level For EUR/USD, Aug 15, 2018

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When the European market opens, some Economic Data will be released such as German 30-y Bond Auction. The US will release the EconomicData too such as TIC Long-Term Purchases, Crude Oil Inventories, NAHB Housing Market Index, Business Inventories m/m, Industrial Production m/m, Capacity Utilization Rate, Prelim Unit Labor Costs q/q, Prelim Nonfarm Productivity q/q, Empire State Manufacturing Index, Retail Sales m/m, and Core Retail Sales m/m, so amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY'S TECHNICAL LEVEL: Breakout BUY Level: 1.1403. Strong Resistance: 1.1396. Original Resistance: 1.1385. Inner Sell Area: 1.1374. Target Inner Area: 1.1346. Inner Buy Area: 1.1318. Original Support: 1.1307. Strong Support: 1.1296. Breakout SELL Level: 1.1289. Disclaimer: Trading Forex (foreign exchange) on margin carries a high level 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 some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.The material has been provided by InstaForex Company - www.instaforex.com

Elliott wave analysis of EUR/NZD for August 15, 2018

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After a dip to 1.7220 all requirements for the correction in red wave i has been fulfilled. Therefore we are looking for a break above resistance at 1.7355 to confirm that red wave iii is developing for a break above the peak at 1.7484 as EUR/NZD moves higher towards 1.7924 and 1.8369.

Short-term support is seen at 1.7243, this support should ideally be able to protect the downside, for the expected rally higher. If, however, a break below 1.7243 is seen, a final dip closer to 1.7196 should be expected to complete red wave ii.

R3: 1.7487

R2: 1.7417

R1: 1.7355

Pivot: 1.7299

S1: 1.7270

S2: 1.7243

S3: 1.7220

Trading recommendation:

We are long EUR from 1.7245 with our stop placed at 1.7215.

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Elliott wave analysis of EUR/JPY for August 15, 2018

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The corrective rally we were looking for from the 125.12 low is unfolding nicely. The minimum target has already been fulfilled, but a final pop to 127.30 remains possible before the final push lower into the 124.59 - 125.12 zone. Ideally, this final push lower will complete just below 125.12, but under no circumstance can a break below 124.59 be allowed, as the break below here will force a recount for the decline from 137.50.

At this point, only a break above minor resistance at 128.65 will indicate that wave ii has completed, while a break above resistance at 129.46 will confirm that wave iii higher is developing.

R3: 127.30

R2: 127.06

R1: 126.61

Pivot: 126.39

S1: 125.98

S2: 125.78

S3: 125.46

Trading recommendation:

We are long EUR from 126.25 with our stop placed at 124.50. We wlll take half profit at 127.25 and then wait for an opportunity to re-buy EUR at 125.15.

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Technical analysis of OIL for August 15, 2018

Oil prices are challenging long-term support trend line and bullish channel. Oil prices are very likely to break the channel and start a move lower towards 60$. Key short-term resistance is at 68.70-69$. As long as the price is below this area we remain bearish.

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Yellow line -long-term support

Green line - horizontal support

The Oil price is challenging recent lows and the long-term bullish channel. A break and daily close below 65.70$ will be a very bearish sign that will make me expect Oil price to move much lower towards 63.50 or even below 60$. Currently, I'm bearish as the price is making lower lows and lower highs.

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Technical analysis of Gold for August 15, 2018

The Gold price is in a bearish trend and has reached our $1,193 short-term target after breaking below $1,205. Now the price is consolidating before its next leg lower to $1,180.

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Black lines - wedge pattern

Blue line - short-term support

The Gold price remains inside the downward sloping wedge pattern. Resistance is at $1,211. Support at $1,193 if it fails to hold, we should expect the Gold price to fall as far as $1,180 where we find the lower wedge pattern boundary.

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Global macro overview for 14/08/2018

Speeches of the Turkish president are in the last days at high risk for the TRY course. It was no different today. Speaking today in the early afternoon in Ankara, the leader was broadly referring to economic issues. The tone in which Erdogan speaks is still warlike: "We can do two things, one in the economy, the other in politics. We have already taken actions that the economy needs. We must now maintain our political position" he said.

The President of Turkey still considers the US to be the main ringleader of the lira's turmoil. In his earlier speeches, Erdogan accused Washington of plotting and terminating the economic war. Now he presented the Turkish answer: "We will boycott American electronic products. Have iPhones? There are Samsung and others. We have our brand Venus Vestel. We will take the appropriate steps" said Erdogan, announcing at the same time that his country "must become more self-sufficient". The shares mentioned by President Vestel Venus, which produces smartphones with the Android system (probably based on components from the Far East, as many similar companies do), immediately increased by more than 5.0%.

Nevertheless, with the weakening of the currency, it is expected that the prices of imported goods will increase significantly, which will additionally conquer and so high inflation reaching 15%. The Turkish leader once again called on his fellow citizens to keep savings in the lira. Abandoning his own currency for the dollar or the euro, Erdogan even compared to betrayal: " If we leave our currency in favor of others, then we will lose. You are Turks, you should use Turkish money" he said.

Turkey imports US goods worth about $ 12 billion annually. However, exports from Turkey to the US amount to USD 9.4 billion. The United States is thus Turkey's fourth largest trading partner after China, Germany, and Russia.

Let's now take a look at the USD/TRY technical picture at the H4 time frame. The harsh tone of the Turkish president interrupted the lira in continuing the strengthening that began in the morning. Early in the morning, the dollar cost more than 6.90 just after ten o clock the rate fell to 6.45, then during Erdogan's speech it would rise to 6.60, and then go down again to 6.40. This is the current technical support for the price. In a case of a further drop, the next support is seen at the level of 5.43.

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Investors closely follow developments in Turkey and Italy

The European currency continued to trade in a narrow price range, as well as other risky assets despite the lack of important fundamental statistics. Many traders and investors were focused on the trade struggle between Turkey and the United States, as well as on the political problems in Italy, where the new government prepares for the budget approval of the country which is likely to go against the standards set by the European Central Bank.

After statements made by Donald Trump last week, the Turkish president did not stand aside and attacked the White House administration's actions. Recep Erdogan said that some people are engaged in economic terrorism through social networks, which is treason, adding that those who do such act will be punished. The head of Turkey also drew attention to the fact that the fundamental macroeconomic indicators are currently strong, and the US actions attempted to strike Turkey in the back by means of duties will not achieve their goal.

It should be noted that at the end of last week, Trump expressed a desire to double the tariffs on the imported goods from Turkey, saying that relations with Ankara cannot be considered positive. The White House administration expects that duties on aluminum imports from Turkey will be 20%, and 50% on steel.

Meanwhile, the Turkish lira continued its decline and fell another 8% against the US dollar despite all the statements of the Turkish president. The actions of the Turkish central bank failed to calm investors. Overall, the lira fell by more than 40% this year.

Raw currencies ignored fundamental statistics on the Chinese economy.

It was published yesterday that the indicator of China's money supply M2 in late July showed an increase of 8.5% compared with the same period in 2017. While economists had expected growth of 8.2%.

There was also an increase in lending. In general, China's financial institutions in July this year issued new loans amounting to 1.45 trillion yuan, while economists predicted that the figure will be 1.275 trillion yuan.

Weak data from the National Bureau of Statistics of China is predicted to slow down the business activity growth in China, which was another alarming call for investors. This suggests that the Chinese economy continues to face problems amid the aggravation of the US trade conflict.

Chinese retail sales in in July rose, which neutralized the weak data on business growth. According to the report, retail sales increased by 8.8% compared to the same period last year. Economists forecast sales growth of 9.0%.

China's industrial production in July also increased by 6.0% compared to the same period last year, while economists forecast an increase of 6.4% in the reporting period.

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* 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

EUR/USD. 14 August. Trading system "Regression channels". The minimum correction for the European currency.

4-hour timeframe

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Technical data:

Higher channel of linear regression: direction - down.

The lower channel of linear regression: direction - down.

Moving average (20, smoothed) - down.

СCI: -83.6888

On August 13, The EUR/USD currency pair finally started an upward correction. In fact, it was impossible to overcome the Murray level "3/8" - 1.1414, hence, there is a high probability of resuming the downward movement of the instrument at this moment. Today, the preliminary value of Eurozone's GDP for the second quarter will be published, as well as changes in industrial output for June. However, traders now pay very little attention to any macroeconomic reports as mentioned yesterday. Thus, the presence or absence of new performances by Donald Trump will be much more important. If there are no new messages from the US leader today, the European currency may recover slightly, although it's obvious that traders have little desire to decrease short positions or open long ones. Thus, the euro continues to become cheaper generally due to global fundamental reasons, such as fears for the European Union which can drag Turkey down against Trump, who recently introduced tangible trade sanctions. Any escalation of the trade conflict with Turkey or China may provoke an even weaker European currency.

Nearest support levels:

S1 - 1.153

S2 - 1.1292

S3 - 1.1230

Nearest resistance levels:

R1 = 1.1414

R2 = 1.1475

R3 = 1.1536

Trading recommendations:

The EUR/USD currency pair began correction. Thus, opening new short position with the target at 1.1333, it is recommended to wait for the reversal of the Heiken Ashi indicator. Otherwise, the corrective movement may continue.

It is suggested to consider purchase orders before fixing the price above the removals. Rejecting a correction is not recommended, as it is very weak and can be completed at any time.

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 lowest linear regression channel is the violet lines of unidirectional motion.

CCI - the blue line in the indicator window.

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

Murray Levels - multi-colored horizontal stripes.

Heiken Ashi is an indicator that color bars in blue or 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

Global macro overview for 14/08/2018

Elon Musk revealed a bit more details about the plan to buy Tesla from the stock exchange. Changing the company's status from a public company to a private company is to be realized without using a loan, and the promised 420 dollars. No investor will be entitled to the campaign - it results from the explanations published on the Tesla blog.

In another letter to investors, Musk explains that the information given by the media on the necessity of spending 70 billion dollars to buy Tesla from shareholders is exaggerated. Announces the same that declared in the post on Twitter 420 dollars for the share will not apply to all - only those shareholders who do not decide to support Tesla will receive such a valuation of their assets.

The Tesla CEO intends to finance the operation not with the use of credit, but capital from the largest shareholders who, as he claims, "have always supported Tesla". Among them, there is a Saudi property fund. The managing director of the fund allegedly stated in an interview with Musk that the fund should already be in talks from July this year. involved in the repurchase of the company from the stock exchange. So far, no decisions have been made on such cooperation, but further meetings have been scheduled.

Musk announces that before voting at all, he wants to present to all shareholders a specific Tesla ownership change plan - it is too early to present it. It is also worth explaining that the majority of the capital necessary for the company's transition to private activities will be obtained from private equity rather than credit: "I do not think that tearing Tesla with drastically increased debt was wise" - Musk writes in an official message. In addition, he explains that the alleged $ 70 billion of the funds needed to finance the company's buy-out from the stock exchange are exaggerated: " The rate of $ 420 / share will only be reasonable for those shareholders who will not want to stay with our company after switching to private business. At the moment I estimate that about 2/3 of shares will go to a private investment" - he adds.

Let's now take a look at the Tesla technical picture at the H4 time frame. The market has broken through the long-term trend line, but got capped around the level of $385. Since then the price has retraced about 50% and is trading at the level of $355. The nearest support is seen at the level of $336 and the nearest resistance is seen at the level of $360 and $373. The momentum remains strong and supports the bullish bias.

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Analysis of BITCOIN for August 14, 2018

Bitcoin has been quite indecisive recently residing inside the corrective range from $6,000 to $6,500 area. The price has been rejecting off the support of $6,000 and resistance of $6,500 area without any strong breakout from the levels. The bearish pressure is quite strong now in comparison with bulls which is expected to push the price lower as of the current price structure or formation. However, for confirmation of the trend, a daily close above or below the range area is required. As of the current scenario, a daily close above $6,500 or below $6,000 area is a must for the upcoming definite momentum for the Bitcoin future but as of current pressure, the bears are expected to dominate as the price remains below $6,500 with a daily close.

SUPPORT: 6,000, 5,500, 5,000

RESISTANCE: 6,500, 8,000, 10,000

BIAS: BEARISH

MOMENTUM: VOLATILE

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