The pound got a break-point

The conciliatory rhetoric of Michel Barnier and the strong statistics on Britain's GDP for May-July allowed the pound to seriously impede the US dollar gaining momentum. The fastest growth in the average wage in the US since 2009 has increased the likelihood of overclocking inflation and aggressive monetary restriction of the Fed, which inspired the "bears" for GBP / USD to attack. Their opponents could find answers. As a result, the sterling was not far from the psychologically important $ 1.3 mark.

The main negotiator from the EU noted that it was open to the idea of simplifying control at the border with Ireland and in general, in Theresa May's plan, there are many useful things. She did not say that the submitted document should be unequivocally rejected. Moreover, Bloomberg, referring to competent sources who wished to remain anonymous, said that Barnier had told the Austrian Chancellor that the Brexit agreement was ready for 90%. Markets are sensitive to the news about the conditions for the withdrawal of Britain from the European Union, after all, according to a poll of experts from Reuters, the GBP / USD pair will slip by 8% in the absence of a deal between Brussels and London and will grow by 6% if there is a compromise.

Support for the pound was provided by the Office of National Statistics of Albion. In May-July, the economy accelerated from 0.4% in April-June to 0.6%, which is the strongest quarterly growth during the year and strengthens the position of the Bank of England. The fact is that the regulator previously claimed that the GDP slowdown at the beginning of the year is a temporary phenomenon, and in the future, the indicator will develop the previous speed. Theoretically, this means that the timing of the next increase in the REPO rate should have moved to an earlier period than the market expects. In fact, the unfavorable political landscape has moved the date of the continuation of the cycle of normalization of monetary policy from November 2019 to February 2020, which restrains the offensive fervor of the bulls in the GBP / USD.

Dynamics of GDP in Britain

analytics5b965523174d9.png

The situation may change for the better for the fans of sterling, if the statistics on the labor market of Foggy Albion will please, and the Bank of England will be marked by "hawkish" rhetoric at the meeting on September 13. According to the forecasts of Bloomberg experts, unemployment will remain at the previous level of 4%, the minimum for several decades, employment will increase by 27 thousand, and the average salary will be dispersed from 2.7% to 2.8% y / y. The gradual recovery of GDP after a sluggish start, a strong labor market and the potential acceleration of inflation create the prerequisites for the continuation of the cycle of normalization of the BoE monetary policy. If, of course, Brexit does not lay a pig.

At the same time, I do not think that an improvement in the political background and macrostatistics in Britain will allow the "bulls" in the GBP / USD to advance to 1.33-1.34 in September. This requires a loss of interest in the US dollar, which is still hard to believe. The most likely scenario is consolidation in the range of 1.27-1.32.

Technically, on the daily GBP / USD chart, the pattern "Splash and Regiment" is implemented. Breaking the top of the "shelf" near 1.3035 will increase the risks of continuing the rally in the direction of the target by 88.6% in the "Bat" pattern.

GBP / USD, the daily chart

analytics5b965530d9be8.png

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

The Australian dollar was frightened by the escalation of the trade war

The Australian dollar at the end of last week updated more than two-year price minimum. For the last time, the pair AUD / USD was at the base of the 71st figure in February 2016. Positive dynamics of growth of the Australian economy had a temporary support for the "Aussie" and on Friday, it completely crossed out all the achievements of the pair's bulls.

First of all, the Australian yielded to the dominance of the US currency, which rose in price throughout the market due to the strong enough Nonfarm. The probability of raising the rate to 2.5% at the December meeting rose to almost eighty percent, while full confidence in the September increase remained unshakable. This week (Thursday), the US consumer price index will be published. If traders see positive dynamics here, the chances of a December increase will increase even more, and, accordingly, the US dollar will get another reason for its further strengthening. It should be noted that preliminary forecasts are very optimistic. Experts expect minimally, but still growth relative to the previous period.

The successes of the American economy coincided with another fundamental factor, which also supports the demand for the greenback. This is a threat of an escalation of the US-China trade war. Trump on the last day of the last week again voiced threats to Beijing. This time, he said he intends to impose duties on almost all Chinese imports to the States, to the amount of $ 267 billion, in addition to 200 billion, which are also just under development.

analytics5b9632e39ebc2.jpg

In other words, he threatened to impose tariffs on virtually all imports from the PRC, but his threats are only verbal in nature. Nevertheless, the belligerent rhetoric did its job. The yuan started to become cheaper again, and on Monday, it opened with the northern gap, like most commodity currencies. The Australian dollar is no exception. A weak attempt at corrective growth is currently undergoing a fiasco, the bears are aggressively pushing the pair to test the key level of 0.70.

The positive dynamics of Chinese inflation also did not help bulls AUD / USD. This indicator came out better than expected, being at the level of 2.3%. In other words, the indicator has been growing for the third month in a row. But the market actually ignored this fact. This is due to two factors.

First, the index of production prices (PPI) remains at low levels, which indicates a fall in domestic demand. Secondly, the growth of August inflation in China is temporary. According to experts, the increase is due to a jump in prices for vegetables and meat (in particular, pork). In turn, the cost of these goods has grown because of natural disasters in some Chinese provinces. Floods in these regions have affected food supplies, especially vegetables. Obviously, such factors are temporary and will not be able to support the growth of inflation on a stable basis. That is why analysts agree that in September the consumer price index may return to the region of 2-2.1%.

analytics5b9632c9d0cd4.jpg

In other words, the growth of Chinese inflation could not support the Australian, while another indicator, the surplus of China's trade balance with the US, aroused serious concern among investors. This indicator jumped in August to a new record high. The surplus increased to $ 31.05 billion, which is significantly higher than the last record amount, in July, the surplus was $ 28 billion. Such a result presages a new round of the trade war between Washington and Beijing. Threats sounded by Trump confirm such a possibility.

Given the above factors, it is not surprising that the shares of mining giants (Rio Tinto and BHP Billiton) have fallen by more than one percent today. As soon as Trump's intentions acquire real features, the commodity market will again show negative dynamics, exerting a strong influence on the Australian dollar.

As you can see, the external fundamental background dominates the domestic success of the Australian economy. The country's GDP growth has provided temporary support to the pair, as well as inflationary dynamics. Therefore, do not expect to release data on the Australian labor market (scheduled for Thursday). Despite strong forecasts, it will not change the situation and break the trend. Only the de-escalation of the trade US-China trade war can unfold the price movement.

analytics5b9632ae197ec.jpg

From the technical point of view, the situation is as follows. At all timeframes, the pair AUD / 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 the data on the growth of American inflation will go far worse than expectations, 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, in the middle of the 69th figure. But the 0.7000 mark will become the main barrier for bears AUD / USD in the coming days.

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

Trading plan for the European session on September 10 EUR / USD

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

It is better not to hurry the purchase of the euro. The formation of a false breakout in the morning at 1.1531 will be a good signal for the opening of long positions with a breakout and consolidation above 1.1567, which will lead to a stronger upward correction in the area of 1.1593, where I recommend fixing the profit. In the case of a larger euro decline, you can buy immediately at a rebound of 1.1495.

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

Bears today need to form a false break at 1.1567, which will be the first signal for new euro sales counting on the breakdown and consolidation below 1.1531 support, which will lead to a new downtrend of EUR / USD with the renewal of lows in areas 1.1495 and 1.1448, where I recommend fixing the profits. In the case of growth above 1.1567, the euro can be sold for a rebound of 1.1593.

analytics5b9613fbe5bcf.png

Description of indicators

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

Trading plan for the European session on September 10 GBP / USD

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

Pound buyers need a quick return to the resistance level of 1.2939 to save the situation. Only it will be a signal to open long positions in expectation of updating the high of 1.2982 and exit to 1.3024, where I recommend fixing the profit. In the case of a decline to support 1.2906 in the morning, long positions on the pound can be searched for the update area 1.2872, or for a rebound from 1.2831.

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

A repeat support test of 1.2906 may lead to the formation of a new downward wave in the pair, with the last week's lows updated in the area of 1.2872 and 1.2831, where I recommend fixing the profit. An unsuccessful consolidation above 1.2939 in the morning will also be a signal to GBP / USD sales.

analytics5b96138854266.png

Description of indicators

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

Analysis of EUR / USD Divergences on September 10. Bullish divergence: we are preparing for growth.

4h

analytics5b960b36af5d3.png

The currency pair EUR / USD on the 4-hour chart fell to a correction level of 50.0% - 1.1546. September 10 is maturing bullish divergence in the CCI indicator. The education will allow the pair to turn in favor of the European currency and begin the growth process in the direction of the correction level of 61.8% - 1,1605. End of quotes from the level of Fibo 50.0% will similarly work in favor of the EU currency. The fixing of the exchange rate under the correction level of 50.0% will increase the probability of a further decline in the direction of the next Fibo level of 38.2% - 1.1490.

The Fibo grid is built on extremes from July 9, 2018, and August 15, 2018.

Daily

analytics5b960b44044bb.png

On the 24-hour chart, the pair made a return to the correction level of 100.0% - 1.1553. The pair's retreat from the Fibo level of 100.0% will allow traders to expect a turn in favor of the euro and some growth in the direction of the correctional level of 76.4% - 1.1789. Brewing divergences today is not observed in any indicator. Fixing the quotes below the Fibo level of 100.0% will work in favor of continuing the decline in the direction of the correction level of 127.2% - 1.1285.

The Fibo grid is built on extremes from November 7, 2017, and February 16, 2018.

Recommendations for traders:

Purchases of the EUR / USD pair will be possible for 1,1605 with a Stop Loss order below the Fibo level of 50.0% if the pair retires from the correction level of 1.1546, especially in conjunction with the bullish divergence.

Sales of the EUR / USD pair will be possible with the target of 1,1490 with a Stop Loss order above the Fibo level of 50.0% if the pair completes the closing at the level of 1.1546.

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

EUR / USD. 10th of September. The trading system "Regression channels". Strong statistics supported the US dollar

4-hour timeframe

analytics5b960b38c055c.png

Technical data:

The senior channel of linear regression: direction - down.

The younger channel of linear regression: the direction is up.

Moving average (20, smoothed) - down.

–°CI: -136.9151

The currency pair EUR / USD on September 7 was fixed below the moving average line and resumed, thus, the downward movement, as we predicted. Positions of the US dollar, at least against the euro, remain strong, and demand for the US currency may again increase. On Friday, the US currency also received support in the form of strong macroeconomic reports on unemployment, the number of new jobs created outside the agricultural sector and the level of wages. All three reports were better than market expectations. In addition, as we have already said, the demand for the dollar does not dry up in the medium term due to the expectations of traders for further improving the economic situation in the US thanks to the new trade policy of Trump. Simply put, market participants believe that the policy of imposing trade duties against all trading partners in order to obtain new, more favorable conditions for the US sooner or later will bring good results. While the US trade balance is only more deficit. But this does not prevent traders from continuing to believe in the best. Thus, the dollar pushes up now only the market's faith in the strength of the States and their leader. Eurocurrency, however, has nothing to oppose the dollar now. The monetary policy of the ECB remains soft, and if Trump again begins to put pressure on the EU through threats of imposing trade duties, then monetary policy can remain soft for a long time. There is no question of raising rates in the coming year.

Nearest support levels:

S1 - 1.1536

S2 - 1.1475

S3 - 1,1414

Nearest resistance levels:

R1 = 1.1597

R2 = 1.1658

R3 = 1.1719

Trading recommendations:

The currency pair EUR / USD has overcome the moving and has almost completed the level of 1.1536. If there is no rebound from the first target, then the pair will continue to move downwards with the target of 1.1475, which is recommended to be worked out, as there are no signs of starting correction today.

The open long position is recommended if the pair can return to the area above the moving average line, which will mean a change of trend again to the upward. The goal, in this case, will be the level of Murray 1.1658.

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

Control zones of GBP / USD as of September 10, 2018

On Fridays, the realization of the basic ascending model and the formation of the pattern of absorption of the day period occurred. This became possible due to the expiration of the option contract, which led to an increase in volatility.

On Friday, a short-term test took place at 1.3048-1.3024, which allowed to close the long position in full or in part. Also, the test zone led to the appearance of a large supply and the absorption of European growth completely. Today, the pair is trading near the defining support for NCP 1/2 1.2907-1.2895, the test of which will indicate further priority. Holding the price above this zone will allow us to work in the upward direction within the medium-term accumulation zone. This model will be a continuation of the upward movement in early August.

analytics5b95b835b4560.png

From the further fall, the pair is held by NCP 1/2, so special attention should now be given to this zone. Reaction to its test will allow determining the exact direction of trade.

To form a reversal model, the closing of today's US session is required below the level of 1.2895. This will entail a further decline in the rate, the goal of which will be a weekly short-term target of 1.2787-1.2763. This model will continue to form the medium-term accumulation zone, formed in late August and early September. The probability of forming this model is 50%, so it must be considered on an equal footing with the ascending one and taken into account when building a daily trading plan.

analytics5b95b941c4c02.png


The daily short-term fault is the daytime control zone. The zone formed by important data from the futures market, which change several times a year.

The weekly short-term fault is the weekly control zone. The zone formed by important futures market marks, which change several times a year.

The monthly short-term fault is the monthly control zone. The zone, which is a reflection of the average volatility over the past year.

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

BITCOIN Analysis for September 10, 2018

Bitcoin has been quite impulsive with the bearish momentum recently which led the price below $6,500 with a daily close resulting in certain correction and indecision at the current market scenario. The price has been trying hard to push higher while residing inside the support area of $6,000-6,500, but the bullish momentum cannot be yet confirmed until the price breaks above $6,500 area with a daily close. The dynamic level of 20 EMA is also indicating a downward movement but having the price residing above $6,000 area with a daily close does indicate the bullish bias is still on and certain bullish comebacks can take place in the process. If the price breaks above $6,500 with a daily close, the bullish run is expected to continue with a target towards $8,000 area.

SUPPORT: 6000

RESISTANCE: 6500, 7500, 8000, 10000

BIAS: BEARISH

MOMENTUM: VOLATILE

analytics5b9672e653b1a.png

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

USD/JPY analysis for September 10, 2018

analytics5b9662c610b62.png

Recently, the USD/JPY has been trading sideways at the price of 111.10. Anyway, according to the M30 time frame, I found that price is trading near the resistance level (Friday's high) at the price of 111.24, which is a sign that buying looks risky. I also found strong supply in the background and overbought condition on the stochastic oscillator, which is another sign of weakness. Watch the breakout of the support trendline to confirm further downward movement. The downward target is set at the price of 111.52.

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

Bitcoin analysis for September 10, 2018

analytics5b965fe0b2a5b.png

Trading recommendations:

According to the H1 time frame, I found a potential end of the upward correction (running flat ABC), which is a sign that buying looks risky. I also found a strong downward trend in the background and my advice is to watch for selling opportunities. The breakout of intraday support line will confirm further downward continuation. The downward target is set at the price of $5,838.

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

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

EUR/USD short-term technical levels and trading recommendations for for September 10, 2018

analytics5b965b331f014.png

The recent bullish movement of the EUR/USD ceased to be dominant since August 28.

Lack of enough bullish momentum is demonstrated on the chart so that recent movement has turned into sideways consolidations.

Earlier Today, obvious bullish rejection was demonstrated around 1.1530. This was manifested in the bullish engulfing H1 candlestick as depicted on the chart.

This would enhance the short-term bullish scenario for the EUR/USD pair. Intraday bullish target levels would be located around 1.1610.

However, conservative traders should wait for a bearish pullback towards the backside of the broken intraday-channel around 1.1550 for a valid BUY entry.

S/L should be placed below 1.1500 while t/p levels should be located around 1.1570 and 1.1600.

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

GBP/USD analysis for September 10, 2018

analytics5b965ceb47733.png

Recently, the GBP/USD has been trading sideways at the price of 1.2930. Anyway, according to the M30 time frame, I found a fake breakout of the Friday's low at the price of 1.2907 in the background, which is a sign that selling looks risky. I also found that price broke the macd predicator line, which is another sign of potential upward movement. Watch for buying opportunities. The upward targets are set at the price of 1.2990 and at the price of 1.3025.

Trading recommendations for today: watch for potential buying opportunities.

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

Control zones of EUR / USD pair 10.09.18

On Friday, an expiration of the option contract took place, which added volatility to the market. The engulfing pattern of the upward movement allowed the pair to once again test the determining support in the form of a week-long control zone of 1.1550-1.1532.

On Friday, there was an uptake of last week's growth, which indicates the formation of a medium-term accumulation zone. Today, the pair tested the weekly control zone fault of 1.1550-1.1532, which could lead to the appearance of large demand and retention of the instrument in the flat phase. To continue working in the range, it will be necessary to close today's American session above the level of 1.1537. If this happens, the target of growth will again be the a control zone at 1.1631-.1622, which will allow us to look for intraday purchases from the bottom of the range.

X9ll7G9uWOde5PeigbjYxyCEXDAsuo2Z9XJjmoNbThe strong downward movement of Friday was triggered by the end of the September option contract. This makes it possible to consider the absorption of this movement with a probability of 50% in connection with the transition to a new contract.

The continuation model of the fall has a probability of 50%. It will be developed in case the today's closing of the American session occurs below the level of 1.1537. The Breakdown of this mark will trigger a mechanism for depreciation, as the framework of the medium-term accumulation zone formed over the last two weeks will be breached. The next target of the fall will be 1/2 control zone of 1.1440-1.1431, the test of which will close a part of the short position.

cUMCH8FwlC1N8kjgwyaLnTBzgyOOjoMrZhuns03i


The daytime CP is the daytime control zone. The zone formed by important data from the futures market that change several times a year.

The weekly CP is the weekly control zone. The zone formedby marks from important futures market which change several times a year.

The monthly CP is the monthly control zone. The zone is a reflection of the average volatility over the past year.

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

NZD/USD Intraday technical levels and trading recommendations for September 10, 2018

analytics5b9657737b742.png

In April, a bearish breakdown of 0.7220-0.7170 (lower limit of the consolidation range) allowed quick bearish decline 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 (0.6840-0.6700) was executed. This allowed the recent 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.

Recently, signs of bullish recovery were manifested around the previous weekly/monthly low around 0.6550. This allowed the recent bullish pullback towards 0.6700 to be demonstrated.

Evident bearish rejection was demonstrated around 0.6700 (broken demand-zone and backside of the broken-trend) where the current bearish decline was initiated.

Currently, the price level of 0.6550 stands as a prominent demand-level which needs to be broken-down to allow further bearish decline can occur towards 0.6420.

Trade Recommendations: Risky traders can wait for bearish decline below 0.6550 (key-level). This offers a high-risk SELL position. Initial T/P should be placed around 0.6420 (Fibonacci Expansion 100%).

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

Intraday technical levels and trading recommendations for EUR/USD for September 10, 2018

analytics5b96567f8807b.png

However, the EUR/USD pair is currently trapped between the depicted technical levels (1.1750 - 1.1500). Breakout movement should be anticipated.

The price zone of 1.1520-1.1420 stands as a prominent demand zone to be watched for bullish rejection and possible bullish pullbacks.

Bearish breakdown of 1.1520 is needed to allow further bearish decline towards 1.1420. Next bearish target would be located around 1.1275.

For the major reversal pattern to be confirmed, a quick bearish breakdown below 1.1420 will be needed to gain enough bearish momentum.

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

Technical analysis of AUD/USD for September 10, 2018

analytics5b9637a3505ad.png

Overview:

The AUD/USD pair dropped sharply from the level of 0.7186 towards 0.7100. Now, the price is set at 0.7123. On the H4 chart, the resistance is seen at the levels of 0.7186 and 0.7239. Volatility is very high for that the AUD/USD pair is still expected to be moving between 0.7143 and 0.7045 in coming hours. However, if the pair fails to pass through the level of 0.7143, the market will indicate a bearish opportunity below the level of 0.7143. So, the market will decline further to 0.7045 in order to return to the daily pivot point (0.7143). Moreover, a breakout of that target will move the pair further downwards to 0.7045. On the other hand, we expect the AUD/USD pair to continue to trade in a bullish trend from the new support level of 0.7045 to form a bullish channel in the long term. Also, it should be noted that major resistance is seen at 0.7239, while immediate resistance is found at 0.7186. According to the previous events, the pair is likely to move from 0.7143 towards 0.7186 and 0.7239 as targets.

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

Technical analysis of USD/CAD for September 10, 2018

analytics5b96332a94d9e.png

Overview:

The USD/CAD pair is moving above strong support at the level of 1.3135, which coincides with the 61.8% Fibonacci retracement level. This support has been rejected for four times confirming uptrend veracity. Hence, major support is seen at the level of 1.3135 because the trend is still showing strength above it. Accordingly, the pair is still in the uptrend from the area of 1.3135 and 1.3187. The USD/CAD pair is trading in a bullish trend from the last support line of 1.3135 towards the first resistance level at 1.3203 in order to test it. This is confirmed by the RSI indicator signaling that we are still in the bullish trending market. Now, the pair is likely to begin an ascending movement to the point of 1.3242 and further to the level of 1.3289. The level of 1.3289 will act as the second resistance and the double top is already set at the point of 1.3289. At the same time, if a breakout happens at the support levels of 1.3135 and 1.3088, then this scenario may be invalidated. But in overall, we still prefer the bullish scenario.

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

Analysis of GBP / USD Divergences on September 10. A new drop in the English currency is expected

H4

analytics5b960afc9c8ae.png

On the 4-hour chart, the GBP / USD pair reversed in favor of the US currency after the formation of the bearish divergence of the CCI indicator and began the decline in the direction of the correction level of 261.8% at 1.2637. On September 10, there are no new brewing divergences in any indicator. The consolidation of the pair above the Fibo level of 200.0% will allow traders to count on the resumption of growth towards the corrective level of 161.8% at 1.3301. For a more accurate definition of goals and trends, we still consider the hourly chart.

The Fibo grid was established on the boundaries from March 1, 2018 and April 17, 2018.

1h

analytics5b960b05c67fb.png

On the hourly chart, there was a fixation under the correction level of 50.0% at 1.2913. As a result, the process of falling quotations can be continued in the direction of the next level of Fibo 38.2% at 1.2883. Brewing divergences are not observed today. The fixing of quotations above the correction level of 50.0% will work in favor of the pound sterling and will allow for some growth of the pair in the direction of the correctional level of 61.8% at 1.2944.

The Fibo grid was established on the boundaries from August 30, 2018 and September 5, 2018.

Recommendations for traders:

Purchases of the GBP / USD pair will be possible with targets of 1.2944 and 1.2982 and a Stop Loss order under the correction level of 50.0% if it closes above the correction level of 1.2913 (hourly chart).

Sales of the GBP / USD pair can now be carried out with targets of 1.2883 and 1.2845 and a Stop Loss order above the correction level of 50.0%, as the pair completed the close under the Fibo level of 1.2913.

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

Forecast for GBP / USD pair as of September 10, 2018

The British pound is preparing for a medium-term decline, but these are only plans. In the first half of the Friday, the pound sterling grew by 100 points, but with the release of the excellent data on the US labor market.

GBP / USD pair

In the first half of Friday, the pound grew 100 points. But with the release of excellent data on the US labor market, it turned down and closed the day, down by 14 points. Since the opening of the Monday session, the price has remained under the downward trend line of the price channel and the indicator line of the balance (red). But over the past week, Marlin has strengthened in an upward trend, according to the oscillator. To change this trend, the price should be fixed below the MACD trend line (1.2805).

analytics5b95f5857442b.png

analytics5b95f594bec80.png

On the H4 chart, the downward trend is also not fixed as the price only tries to go under the balance indicator lines of MACD and only approached the signal line the Marlin. However, it has not yet gone under the zero line. In general, the price is at once at the indicator line on two timeframe, which indicates the neutrality of the situation. Today or tomorrow, this balance will be broken.

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

Forecast for AUD / USD pair as of September 10, 2018

AUD / USD pair

On Friday, the Australian dollar successfully broke the support of the domestic trend line in the price channel, which could not be overcome by 2 months. Now, the decline continues. The nearest target is 0.7067 and then 0.6970.

analytics5b95f4830ac10.png

analytics5b95f49089b78.png

On the H4 chart, there was a danger. the convergence of prices with the oscillator Marlin began to take shape. It may very well be that the convergence will completely form at the level of 0.7067. We are waiting for clarification of the situation.

Donald Trump decided to review the trade relations with Japan. Negotiations are already underway. From this political side, surprises can be both positive and negative.

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

GBP/USD. September 10. Trading system "Regression channels". Boris Johnson compared Britain with a "frail creature"

4-hour timeframe

analytics5b960b7009cd7.png

Technical data:

Higher channel of linear regression: direction - down.

The lower channel of linear regression.

Moving average (20; flattened) - sideways.

CCI: 35.0518

On Friday, September 7, the GBP/USD currency pair continued to grow quite unexpectedly because of the strong US macroeconomic statistics supported by the dollar, but not paired with the British pound. There is no important and interesting reports from the UK itself received on this day, thus, it is difficult to explain why the pound sterling continued to grow. Nevertheless, we believe that this is temporary and incidental. Today or tomorrow, a downward movement in the pair may resume. Especially in the background of the speech of the former British Foreign Secretary Boris Johnson. Johnson criticized the negotiations with the EU, calling London's position extremely weak. According to Johnson, London has already made significant concessions to Brussels but the EU continues to squeeze out its Brexit plan and does not want to make concessions to Britain. Johnson compares Britain to a "frail creature" who is angry with a gorilla that surpasses him in strength. Furthermore, he believes that all conditions for political blackmail have been created, Britain has been dressed in a suicide belt and the detonator was awarded to Michel Barnier (the main negotiator from the EU). In general, the criticism of the negotiations between Theresa May and the EU continues. There are a lot of people who are dissatisfied, and the parties cannot reach an agreement on the key issues. Against this background, the pound sterling may resume the downward rally.

Nearest support levels:

S1 - 1.2878

S2 = 1.2817

S3 = 1.2756

Nearest resistance levels:

R1 = 1.2939

R2 1.3000

R3 = 1.3062

Trading recommendations:

The GBP/USD is slightly below again the 1.2939 level and slightly above the moving average. Officially, the long lines with a target of 1.3000 remain relevant for today. But for it is required to wait for Heiken Ashi upward reversal and the price rebound from the Moving Average.

Selling orders can be opened if traders manage to overcome the moving average, which is more likely to happen. In this case, the first target for the downward movement will be the Murray level "2/8" - 1.2817.

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 senior channel of linear regression is the blue lines of unidirectional motion.

The lower 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.

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

Weekly review from 10 to 15 September 2018 on the pair GBP/USD

Trend analysis (Figure 1).

Volumes give the probability of upper work. According to technical analysis, the price for this week may move upwards with the first upper target of 1.3065 - the retracement level of 23.6% (blue dotted line). What is the level of probability that this scenario will be shown in the comprehensive analysis.

gbpusd-w1-instaforex-companies-group.png

Fig. 2 (weekly chart).

Complex analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- volumes - upwards;

- candle analysis - neutral;

- trend analysis - up;

- Bollinger lines - up;

- monthly graph - up.

Conclusion on the complex analysis is an upward movement.

The overall result of calculating the candle of the GBP/USD currency pair on a weekly chart shows that the weekly price would likely have an upward trend with the absence of the first lower shadow of a weekly white candle and the absence of a second upper shadow.

The first upper target is 1.3065 - the recoil level is 23.6% (blue dotted line).

* 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

Golden prospects-2

At the end of June, we published a forecast for gold called "is it worth investing in gold?" (See). After 8 weeks, when the price fell to the first target of 1200, the forecast was fulfilled in its first part. Now it is time to consider further prospects.

analytics5b95f75426dc8.png

To begin with, a small but important note on the monthly chart - the price was fixed under the balance line and MA50 green. It would be more interesting to look at the indicator of the Kruzenshtern trend line, but the fact is that more than 600 bars are needed to build this line, and there are fewer of them on the monthly chart. But with some approximation, the moving average with a period of 50 resembles the Kruzenshtern line. Here the price is below 50 MA, and it can be assumed that the price is also below Kruzenshtern. But even in itself, fixing the price under MA 50 of such a high scale is a strong signal for the medium - and long-term decline. The signal line of the oscillator Marlin is reduced in the territory of possession of bears.

analytics5b95f8960b768.png

The schedule of the weekly timeframe are supplemented with pink specifying trend lines. At the moment, the price is testing one of them. Overcoming this line opens the prospect of a decline to the lower line in the area of 1110.30. Then the next target is the red support trend line in the area of 1094.

If the current consolidation continues above the trend lines, the targets will decrease slightly according to the slopes of these lines – pink and red. Moreover, the red line has a steeper descent, and this can significantly reduce the prospect of the expected decline (as an option, 1075 – the December 2009 low).

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

Weekly review from 10 to 15 September 2018 on the EUR/USD pair

The weekly chart showed a purely fundamental development of the bottom last week, although technical analysis gave a calculated upper hand. The euro turned out to be black on Friday. Most likely, we can expect for the second move up this week. The next control point is 1.1735 - the upper fractal.

Trend analysis (Figure 1).

On the weekly chart, the price closed below the pullback level of 23.6% (the blue dotted line), but this was a refinement of the news. This week, the market can continue to move up, with the immediate target of 1.1735 - the upper fractal.

eurusd-w1-instaforex-companies-group-2.p

Fig. 2 (weekly chart).

Complex analysis:

- Indicator analysis - up;

- Fibonacci levels - up (blue dotted line);

- volumes - upwards;

- candle analysis - neutral;

- trend analysis - up;

- Bollinger lines - down;

- monthly graph - up.

Conclusion on complex analysis - up.

Calculation of the first shadow of the week (Monday) on a weekly chart.

The middle lines of the EMA 1/5/8 are the lower signal.

The "three lines" indicator (the direction of the lines of CCI indicators (5), RSI (5), stochastics with a period of 3/3/4) on the last run is a neutral signal.

Calculation of the system of RSI indicators for the first tail - up.

The bottom line: a weekly candlestick calculation for indicator analysis showed that on Monday the price may have a tendency, which should be determined by the daily chart.

Calculation of the second shadow of the week (Friday).

The calculation for the MACD linear part showed an upward trend (100 points up).

Calculation of the MACD histogram showed an upward trend (100 points up).

The bottom line: the calculation of the last day of the week on technical analysis showed that the price may have an upward trend on Friday, which should be confirmed by the daily chart.

The overall result of the calculation for the candle currency pair EUR/USD on a weekly chart indicates the weekly price would likely have an upward trend with the absence of the first lower shadow of a weekly white candle and the absence of a second upper shadow.

The nearest upper target is 1.1735 - the upper fractal.

* 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

Forecast for EUR/USD as of September 10, 2018

EUR/USD

At the end of Friday, the euro lost 70 points, thanks to strong performance in the US labor market in August. The number of jobs outside the agricultural sector added 201 thousand against the expectation of 191 thousand, the July figure was revised down by 10 thousand, to 147 thousand. No less optimism caused a sharp increase in wages – 0.4% (2.9% yoy) – the largest monthly growth in the last 9 years. European indicators on that day were summed up by the euro. Germany's trade balance for July was only 15.8 billion euros against the forecast of 19.1 billion, industrial production fell by -1.1% (the forecast was 0.2%).

analytics5b95f66251546.png

On the daily timeframe, the price fixed below the indicator balance line, less than 30 points remained to the nearest target of 1.1524. The signal line of the oscillator Marlin moved to the territory of negative numbers. To fully consolidate the downward trend, the price should be fixed under the Kruzenshtern trend line in the area of 1.1435.

analytics5b95f672d75da.png

On the four-hour chart, reversal features are not observed, the price under all indicator lines, Marlin does not show reversal patterns. The main risk to the downgrade scenario comes from the trend lines, from which the price may unfold.

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

Fundamental Analysis of USD/JPY for September 10, 2018

USD/JPY is still quite corrective and volatile while residing above 110.50 area with a daily close. Despite the recent positive economic reports of USD employment statistics, USD could not manage to engulf the previous bearish momentum in the pair which does indicate the strength of JPY in the process.

JPY has been meeting the economic expectations for which the sustainability of the gains based on a better performing economy is quite appreciable. Today JPY Bank Lending report was published with an increase to 2.2% which was expected to be unchanged at 2.0%, Current Account decreased to 1.48T from the previous value of 1.76T which was expected to be at 1.56T, Final GDP Price Index report was published unchanged as expected at 0.1% and Final GDP increased to 0.7% as expected from the previous value of 0.5%. The average performance of the economic reports is quite hawkish and expected to provide the required momentum to sustain the bearish pressure in the pair.

On the other hand, this week US PPI, CPI and Retail Sales reports are going to be published which are expected to have mixed outcome whereas better than expected actual results may lead to further add to the impulsive gains of the USD in the process. Today FOMC Member Bostic is going to speak in Georgia about the nation's key interest rates and upcoming monetary policies which are expected to be quite neutral in nature.

As of the current scenario, USD is still quite strong having increased job statistics and economic growth backed by the recent rate hikes and expected inflation. Though JPY is also quite successful in sustaining its gains over USD, certain volatility is expected in this pair. Upcoming USD and JPY reports are expected to provide the required clue for the decisive definite momentum in the pair which is expected to lead to an imbalance market momentum in the pair.

Now let us look at the technical view. The price has recently rejected off the 110.50 with another False Break price action which does indicate the area of bulls in the pair from where certain bullish momentum can be expected. Currently, the price is residing below the dynamic level of 20 EMA with a daily close which if broken with a daily close is expected to inject further bullish momentum in the pair to push the price higher towards 112.00 and later towards 113.00 area in the coming days. As the price remains above 110.50 with a daily close, the bullish bias is expected to continue.

SUPPORT: 110.50

RESISTANCE: 112.00, 113.00

BIAS: BULLISH

MOMENTUM: VOLATILE

analytics5b960ca358059.png

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

Fundamental Analysis of EUR/USD for September 10, 2018

EUR/USD has been quite impulsive with the recent bearish momentum which leads the price to reside below the trend line resistance with daily close. The positive high impact economic reports of USD published recently provided the required push for the currency to gain sustainable momentum over EUR in the process which is expected to push further lower in the coming days.

EURO has been quite mixed with the recent economic reports which did not quite help the currency to sustain the bullish momentum it had earlier. Ahead of the EURO Main Refinancing Rate to be published which is expected to be unchanged at 0.00% and ECB Press Conference to be held this week on Thursday, EURO is expected to be quite volatile and indecisive. Today EURO Sentix Investor Confidence report is going to be published which is expected to decrease to 13.8 from the previous figure of 14.7. Moreover, EURO is still struggling with the Greece issues which are expected to come to a solution very fast and Brexit issue is also expected to wrap up by the first quarter of 2019 which does indicate that EURO is going to be quite weak since the end of 2018.

On the USD side, as of the recent observation, the higher rates leading to higher inflation and increased in Jobs sector did provide the required push for the economy as well the currency to gain momentum. Though the monetary policies are suggested to be tighter how FED is going to manage that is going to be the number question for the coming days. This week US PPI, CPI and Retail Sales reports are going to be published which are expected to have mixed outcome whereas better than expected actual results may lead to further add to the impulsive gains of the USD in the process. Today FOMC Member Bostic is going to speak in Georgia about the nation's key interest rates and upcoming monetary policies which are expected to be quite neutral in nature.

As of the current scenario, the EURO is expected to struggle further to gain momentum whereas USD positive economic reports are expected to gain further bearish pressure in the process. Though upcoming economic reports are expected to have a greater influence on the upcoming price action in the pair but analyzing the fundamental facts, USD is quite ahead of EURO in the process and expected to lead the price much lower in the coming days.

Now let us look at the technical view. The price has been quite impulsive with the bearish gains which lead the price to reside below 1.1600 area with an intention to push lower towards 1.1500 area in the coming days. Though the price has been quite impulsive with the recent bearish pressure but the decisive bearish gains are still not confirmed. So, a daily close below 1.1500 is needed for further continuation of the bearish momentum in the pair with target towards 1.1300 support area in the coming days.

SUPPORT: 1.1500, 1.1300

RESISTANCE: 1.1600, 1.1750

BIAS: BEARISH

MOMENTUM: IMPULSIVE

analytics5b960992a5276.png

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

Global macro overview for 10/09/2018

The most important information of the Friday session was undoubtedly the publication of a report from the American job market. After the result of 157 thousand new jobs in the non-agricultural sector (NFP) of July this year, the economists expected the situation to improve in the August report and definitely a better result at the level of 191 thousand. In August, the American economy generated as many as 201,000 new jobs, which was a positive surprise for the markets.

According to the latest report of the American Labor Office, the change in employment in the non-agricultural sector (NFP) in August 2018 amounted to +201k, which is a significantly better result than the monthly result, which was revised negatively to 153k from 157k as well as from already optimistic forecasts at the level of 191k. A positive overtone of this publication was also supported by data on wage growth, which despite forecasts assuming maintaining dynamics at the level of 0.3% m/m and 2.7% y/y, in monthly terms increased by 0.4% and in annual terms by as much as 2 9%. However, it turns out that despite such a significant increase in employment in non-agricultural sectors, the unemployment rate remained at 3.9% in August. The surveyed economists expected its drop to 3.8%.

Let's now take a look at the USD/JPY technical picture at the H4 time frame. As could be expected, as a result of such good data, we observed a strong appreciation of the US dollar. At the USD/JPY pair, the price first moved down slightly, but then jumped higher and eventually made a new high at the level of 111.24. Despite this price action, the market is still moving inside of the horizontal consolidation channel between the levels of 110.68 - 111.24, so no major breakout has occurred yet. Please notice, that the most important technical levels are 110.37 - 111.82.

analytics5b960941a525c.jpg

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

Global macro overview for 10/09/2018

Next week the most important events are CPI/production/sales from the USA, EBC, ZEW, BoE, CPI/production/sales from China, labor market from Australia, NAFTA.

In the US, the August inflation, (Thursday), retail sales and industrial production reports (Friday) will not change the Fed's bias and the risk of a determined interest rate hike on September 26. CPI and core inflation are above the 2% target, and the dynamics of production and sales will only confirm a strong recovery. This is nothing new to speed up the USD rally, but negative surprises can already drive up the dollar's losing streak. In addition, the USD will remain the currency of the first choice if the rhetoric of trade wars becomes more important. The escalation of disputes with China and Japan hangs in the air.

In the euro area, we have industrial production (avg), ECB meeting (Thursday) and German ZEW (Tuesday). The central bank will enjoy the greatest interest, however, where policy parameters are not expected to change. We will receive new economic forecasts that will take into account the effects of delays in the recovery of the recovery. The GDP path should decrease somewhat, but inflation forecasts will rather remain unchanged. If despite this, President Draghi maintains an optimistic language about the prospects for recovery, the meeting should be neutral. EUR remains the currency with no arguments for stronger strengthening and continues its drift.

In the UK, readings of industrial production (Monday) and wages will rather remain in the shadow of information on the progress of Brexit negotiations. Meeting of the Bank of England (Thursdays) may attract more attention, although we will get only a message, and until the agreement with the EU crystallizes, monetary policy remains on the autopilot. The market is still skeptical about how the future negotiations of the divorce agreement with the EU will go smoothly, but from this position new information has more potential for pound inflation.

Data from Japan should confirm a moderate pace of recovery without strong monetary policy implications. The revision of GDP for the second quarter (Mon) should bring an upward revision based on higher corporate investment expenditures, as evidenced by other reports. Industrial production for July (pt) may go down poorly, however, seasonal fluctuations are to blame. JPY will be more sensitive to market sentiment, as it is significantly strengthened as a safe haven.

In the face of the ongoing discussion on the extension of the list of Chinese goods subject to customs, data from China will be the center of attention. Data from foreign trade will probably indicate an increase in import and export dynamics, which, however, will be associated with the acceleration of order fulfillment in the event of customs duties. Industrial production (pt) may go down poorly, which is suggested by low PMI readings. If this is to weaken the dynamics of urban investments, the negative reaction of the Chinese stock market may set the tone for an escape from risk on external markets.

In Australia, it will be interesting to see consumer moods (wed) following announcements of raising mortgage rates by the three leading banks in the country. A negative reaction of households may affect the future inclination from consumption and the GDP growth outlook. The labor market report (Thursday) will probably show continued improvement, but this should not be a surprise for anyone. While maintaining the current climate, good data will be an opportunity to sell AUD at a better price. Aussie has become a barometer of sentiment towards Asian emerging markets, and the foundations are unfavorable (passive RBA, real estate market). The calendar from New Zealand is empty, and NZD has found itself in the cross because although the pressure on the Asian emerging markets is negative, the kiwi is countering the increase in sales to AUD / NZD.

It will be a peaceful week in Canada for data, as the only more important data is the construction of houses (Tuesday). More excitement will be provided by the finalization of NAFTA agreement negotiations (if it does not happen). The maintenance of the trade agreement will remove a significant risk premium from Canada and open the way for the Canadian Bank to another interest rate increase. The market is already optimistic enough for the final of talks, so the CAD appreciation potential may be limited. An obstacle may be a deterioration of the global sentiment, for which CAD is sensitive.

Let's now take a look at the USD/CAD technical picture at the H4 time frame. The market has bounced from the technical support at the level of 1.3113 and now is trading around the technical resistnace at the level of 1.3190. The momentum is still positive, but does not rise sharply. The market contition are neutral so far. The next important technical resistance is seen at the level of 1.3224.

analytics5b9606bdd51c8.jpg

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

Bitcoin analysis 10/09/2018

The American Subcommittee on Congress on Terrorism and Illegal Finance discussed various methods of financing terrorism through cryptocurrencies, according to the official press release of the US House of Representatives on Financial Services of September 7.

In order to monitor the threats and methods of financing terrorism, the main ways of transferring funds by terrorists, including traditional financial institutions and semi-formal methods such as the hawala exchange system and cryptocurrencies, were considered during the discussion.

However, while Al-Qaeda, the Islamic State and other terrorist groups tried to raise funds through cryptocurrencies, they did not achieve great success, as Congress said during the meeting.

Yaya Fanusie, Director of Analysis of the Foundation for the Defense of Democracy (FDD) Center for Sanctions and Illegal Finance, stressed that the majority of terrorists, especially those who serve on "battlefields of jihad", now live in environments where cryptography does not work, which means that the use of cryptocurrency ls is better when you buy goods.

Fanusie indicated cash money as the most anonymous method of financing, claiming that it is more popular among terrorists. He also stated that crypto is a "poor form of money for jihadists" and "cold hard cash is still king. The expert also stated that the US government bodies that are responsible for investigating terrorist financing should acquire more skills in analyzing cryptocurrency transactions. Fanusie noted: "Preparing now for the increasing use of cryptocurrencies by terrorists, the US may limit the possibility of transforming digital currency markets into a reserve of illegal financing".

At this point, Fanus seemed to instruct the authorities to focus on smaller cryptocurrency exchanges that trade alternative cryptocurrencies or personal tokens, instead of on major stock exchanges, which significantly tightened the anti-money laundering (AML) and know-your-customer (KYC) policies in over the past few years.

Let's now take a look at the BItcoin technical picture at the H4 time frame. The market remains in a local downtrend and a new local low was made overnight at the level of $6,083. The price bounced from this level, but it was capped by the internal trendline resistance around the level of $6,371 with a high at the level of $6,400. Currently, the market is trading inside of a local consolidation zone, but still under the black trend line. The good news for bulls is, that there is a bullish divergence building between the price and the momentum oscillator.

analytics5b96050cefe82.jpg

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

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

analytics5b95e90904cf4.jpg

When the European market opens, some Economic Data will be released such as Sentix Investor Confidence. The US will release the economic data too, such as Consumer Credit 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: 1.1616.

Strong Resistance:1.1609.

Original Resistance: 1.1598.

Inner Sell Area: 1.1587.

Target Inner Area: 1.1560.

Inner Buy Area: 1.1533.

Original Support: 1.1522.

Strong Support: 1.1511.

Breakout SELL Level: 1.1504.

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 USD/JPY, Sept 10, 2018

analytics5b95e8925d1ce.jpg

In Asia, Japan will release the Economy Watchers Sentiment, Final GDP q/q, Final GDP Price Index y/y, Current Account, and Bank Lending y/y data, and the US will release some Economic Data such as Consumer Credit m/m. So there is a probability the USD/JPY will move with a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 111.50.

Resistance. 2: 111.28.

Resistance. 1: 111.06.

Support. 1: 110.80.

Support. 2: 110.58.

Support. 3: 110.36.

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 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

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

analytics5b95dd10a9fac.png

We continue to look for more upside pressure towards the next sub-target at 1.7820. Longer term resistance at 1.7820 only should prove to be a temporary cap as more upside towards strong resistance at 1.8369 remains expected.

Support is now seen at 1.7683 and again at 1.7638 only a break below the later, we confirm more sideways consolidation, and a dip to 1.7605 before the next strong push higher.

R3: 1.7820

R2: 1.7750

R1: 1.7734

Pivot: 1,7701

S1: 1.7683

S2: 1.7638

S3: 1.7605

Trading recommendation:

We are long EUR from 1.7330 with our stop placed at 1.7565, Upon a break above 1.7734 we will move our stop higher to 1.7595.

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

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

analytics5b95db7a57b7c.png

Red wave (2) continues to work its way lower towards the ideal target-zone between 127.44 - 127.60.

As long as minor resistance at 129.11 caps the upside more downside pressure should be expected towards the 127.44 - 127.60 target-zone. Only a direct break above minor resistance at 129.11 will indicate a premature completion of red wave (2) and the onset of red wave (3) towards at least 137.50 and above.

R3: 129.98

R2: 129.11

R1: 128.84

Pivot: 128.48

S1: 128.00

S2: 127.81

S3: 127.60

Trading recommendation:

Buy EUR at 127.75 or upon a break above resistance at 129.11.

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

Ichimoku cloud indicator analysis of Gold for September 10, 2018

The Gold remains under pressure and below $1,200. Next time it makes a move above it could be the start of the bounce towards $1,220 we have been waiting. Until then we remain neutral as Gold could continue lower towards the August lows or sideways.

analytics5b958bc25d93b.png

Blue line - short-term resistnace

The Gold's trend remains bearish as price is still below the Daily Kumo (cloud). There is a good chance we see Gold towards $1,220-30 if we break above $1,206. On the other hand, if prices fail to hold above $1,190-80 area we should expect Gold to make new lows towards $1,140-$1,110.

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

Technical analysis of EUR/USD for September 10, 2018

EUR/USD stopped the decline on Friday just above the important support area of 1.1550-1.1530. As long as EUR/USD is above this area we can take advantage of the bullish side of the market as we might be forming an inverted head and shoulders pattern with a neckline at 1.1730. Above 1.1660 this scenario becomes our primary one. Until then, the chances of a bearish Head and shoulders pattern are equally high.

analytics5b958ad6eb950.png

Black rectangle - neckline support

Yellow rectangle - long-term support

Red lines - H&S target extension

It is clear that support from the H&S pattern and from previous highs and lows is at 1.1530-1.1550. Breaking below this area will open the way for a move towards 1.14-1.1350. Resistance is at recent highs at 1.1660 area. Breaking above it will open the way for another challenge of the 1.1730-1.1750 resistance that if broken will take us back to 1.20.

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