Fundamental Analysis of AUD/USD for September 12, 2018

AUD/USD has been quite volatile amid the bullish momentum after breaking below 0.7150 with an impulsive bearish daily close recently. USD has been the dominant currency in the pair. However, despite positive employment reports recently USD has been struggling to sustain the positive momentum amid the economic reports.

AUD has been quite mixed in light of the recent economic reports which triggered certain correction and indecision in the pair. Ahead of the high impact economic reports to be published tomorrow, AUD is expected to remain volatile and indecisive in the process. Tomorrow Australia's Employment Change report is going to be published which is expected to increase to 16.5k from the previous figure of -3.9k and Unemployment Rate is expected to be unchanged at 5.3%.

On the other hand, today US PPI report was published with a decrease to -0.1% from the previous value of 0.0% which was expected to increase to 0.2% and Core PPI also decreased to -0.1% from the previous value of 0.1% which was expected to increase to 0.2%. Moreover, today Crude Oil Inventories report is going to be published which is expected to increase to -1.3M from the previous figure of -4.3M. Besides, FOMC Member Brainard is going to speak about the upcoming monetary policy decisions.

Meanhwile, USD has been struggling for gains amid the recent economic reports, whereas any positive figures of the upcoming Australia's Employment reports are expected to inject impulsive bullish momentum in the pair, encouraging a further gain against USD in the process in the nearest days.

Now let us look at the technical view. The price has been quite bullish with the recent price action after breaking below 0.7150 with a daily close. The price has formed a Bullish Regular Divergence recently which does indicate about further bullish momentum in the pair before pushing lower again with the trend. A daily close above 0.7150 will lead to impulsive bullish momentum with a target towards 0.7250 before pushing lower.

SUPPORT: 0.7050

RESISTANCE: 0.7150, 0.7250, 0.7500

BIAS: BEARISH

MOMENTUM: VOLATILE

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Fundamental Analysis of USD/CAD for September 12, 2018

USD/CAD has been quite impressive amid impulsive bearish pressure which led the price towards the support area between 1.2950-1.3050. USD has been struggling for gains in light of recent worse-than-expected economic reports despite the positive change in employment.

Today US PPI report was published with a decrease to -0.1% from the previous value of 0.0% which was expected to increase to 0.2% and Core PPI also decreased to -0.1% from the previous value of 0.1% which was expected to increase to 0.2%. Moreover, today Crude Oil Inventories report is going to be published which is expected to increase to -1.3M from the previous figure of -4.3M. Besides, FOMC Member Brainard is going to speak about the upcoming monetary policy and timing for monetary tightening.

On the other hand, CAD has been quite feeble amid employment reports which did not quite encourage CAD gains over USD in the process. Despite downbeat economic data even today, CAD managed to sustain the gains which indicates the strength of CAD over USD for a while. Today Canada's Capacity Utilization Rate report was published with an increase to 85.5% from the previous value of 83.7% but it failed to meet the expectation of 86.9%. Ahead of the NHPI report to be published tomorrow which is expected to be unchanged at 0.1%, CAD is quite stable at the current market situation.

Meanwhile, ahead of the US CPI and Retail Sales reports to be published this week, USD has been quite weak against CAD whereas further negative outcome of the upcoming reports may add to CAD gains in the future.

Now let us look at the technical view. The price is currently residing below 1.3050 area which has been one of the strongest event area observed so far. The area between 1.2950-1.3050 has been quite corrective and volatile, so a daily close below or above this area is indeed required to determine trend momentum in the pair for the coming days. As the price remains below 1.3350 area, the bearish bias in this pair is expected to continue further.

SUPPORT: 1.2750, 1.2950, 1.3050

RESISTANCE: 1.3050, 1. 3300-50

BIAS: BEARISH

MOMENTUM: VOLATILE

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Bitcoin analysis for September 12, 2018

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Trading recommendations:

According to the H1 time - frame, I found that price broke the support trendline in the background, which is a sign that buying looks risky. I also found a potential end of the upward correction (abc running flat) in the background, which is another sign of weakness. Watch for selling opportunities. The downward target is set at the price of $5.847.

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Intraday technical levels and trading recommendations for GBP/USD for September 12, 2018

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The recent bearish movement of GBP/USD has shown signs of weakness since September 5 when an ascending bottom was established around 1.2800

The GBP/USD pair is currently testing the depicted downtrend line which comes to meet the pair around 1.3025-1.3090.

This price zone (1.3025-1.3090) corresponds to 50% and 61.8% Fibonacci levels where evident bearish rejection should be anticipated.

As long as sings of bearish rejection are demonstrated below 1.3020 (50% Fibo level), the short-term outlook remains bearish towards 1.2840 and 1.2780.

On the other hand, successful bullish breakout above 1.3090 will probably hinder the current bearish movement allowing a further bullish advance to occur towards 1.3200, 1.3250 and 1.3315.

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NZD/USD Intraday technical levels and trading recommendations for September 12, 2018

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In April, bearish breakdown of 0.7220-0.7170 (lower limit of the consolidation range) allowed a quick decline towards 0.6700-0.6800 where narrow ranged consolidation range was established.

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 so that further bearish decline can occur towards 0.6420.

However, recent daily candlesticks represent lack of enough bearish momentum below 1.6550. That's why, conservative traders shouldn't consider the current bearish breakdown as a successful one. Bullish pullbacks above 0.6600 should be expected as well.

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Intraday technical levels and trading recommendations for EUR/USD for September 12, 2018

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On the other hand, 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 allow a further decline towards 1.1420. The 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.

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Forecast for AUD / USD pair as of September 12, 2018

AUD / USD pair

The Australian dollar is the only currency in Forex, which systematically moves according to clear rules of technical analysis from the end of August. After the price has gone under the balance line and the MACD line on the N4 chart, the decline continues without violating these lines.

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The immediate goal is to maintain the trend line on the daily chart at 0.7060. On the H4 chart, a double price convergence with Marlin oscillator was formed. From the designated level, a pronounced correction is possible, approximately to the MACD line at 0.7162 on 4-hour chart. The fastening at 0.7060 will allow the price to break the convergence and go down to the bottom line of the price channel at 0.6954 of the daytime timeframe.

In addition, we placed a long-term forecast for the Australian dollar.

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On the monthly chart, the price was fixed under the balance line indicator went under the lower line of the diamond. The signal line of the Marlin oscillator rapidly decreases in the negative zone. The prospect of reducing the indicator is very deep. The first significant goal can be the support of a trend-line (dash-dot line), which is a parallel midline of rhombus approximately in the area of 0.5660. The fall corresponds to our long-term forecast for the euro at 0.8518.

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Trading plan for the European session of EUR / USD pair on September 12. Bulls leave the market and wait for statements from

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

Buyers of the European currency y need an urgent return to the resistance level of 1.1602 today. This is required to maintain an upward trend, which will lead to a repeat test of the weekly highs near 1.1641 and their renewal in the 1.1686 area, where fixing profits are recommended. In case the euro declines in the morning, it is best to return to long positions after updating support 1.1577 or to rebound from 1.1553.

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

Bears returned to the market yesterday, limiting the formation of a new rising wave. Today's data on producer prices in the US can support the US dollar, which will still pressure on EUR / USD. The breakthrough of support 1.1577 will be the first signal for the opening of short positions with a view of reducing and returning to the week's minimums in the area of 1.1553 and 1.1529, where fixing profits are recommended. The formation of a false breakdown at 1.1602 will also allow you to count on short positions in the euro. Otherwise, you can sell immediately to a rebound from 1.1641.

Indicator signals:

The 30-day moving average is on par with the 50-day moving average. This suggests that the trade will be conducted in the side channel.

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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
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USD/JPY analysis for September 12, 2018

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Recently, the USD/CAD has been trading downwards. The price tested the level of 1.3041. Anyway, according to the M30 time frame, I found exhausted sellers and a potential trap for sellers. The price stopped on the support trendline and that is a sign of strength. Watch for buying opportunities. The breakout of the supply trendline will confirm further upward movement. The upward target is set at the price of 1.3110.

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EUR / USD and GBP / USD: trading plan for the US session on September 11

EUR / USD

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

Buyers got to the resistance levels in the first half of the day, and then expectedly left the market. Currently, the support is provided by the area of 1.1579, and while the trade is above this level, the demand for the euro will continue, which may lead to the renewal of resistance 1.1611, where I recommend fixing the profits. In the event of a breakdown of the level of 1.1579, it is best to go back to the long positions in EUR / USD from 1.1555 and 1.1529.

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

The sellers excellently worked out the resistance level of 1.1647, which I paid attention to in the morning review, and even managed to return to the area of 1.1611. The repeated test of support 1.1579, which is currently trading, will result in further EUR / USD selling with the update of the lows in areas of 1.1555 and 1.1529, where I recommend fixing the profit. In the case of euro growth in the second half of the day, sales can be returned to a rebound from 1.1611.

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Indicator signals:

The price returned under the 30 day moving average, trading in the side channel.

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

GBP / USD

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

Buyers of the pound reached a large resistance of 1.3079 and quickly left the market, which led to the fixation of profits and the return of GBP / USD to the support level of 1.3024, which puts buyers in uncomfortable conditions. Only a return to the resistance level of 1.3024 will be a new signal to buy pound with the old target in the area of 1.3079, where I recommend fixing the profit. In the event of a further decline in GBP / USD, you can go back to your purchases to rebound from 1.2982 and 1.2946.

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

The sellers excellently worked at the resistance level of 1.3079, which I paid attention to in my morning review. The return to the support level of 1.3024 is a good signal for the opening of short positions in the pound with the main goal of reducing to the area of 1.2982 and 1.2946, where I recommend fixing the profit. In the case of GBP / USD rising in the afternoon, above 1.3024, you can sell again for a rebound from resistance 1.3079.

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Indicator signals:

The 30-day moving average is above the 50-day average, the bullish trend is maintained.

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

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GBP/USD analysis for September 12, 2018

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Recently, the GBP/USD pair has been trading downwards. As I expected, the price tested the level of 1.2964. According to the M30 time – frame, I found the breakout of the support trendline in the background, which is a sign that sellers are in control. I also found a hidden bearish divergence on the MACD oscillator and rejection of the resistance trendline, which is another sign of weakness. My advice is to watch for selling opportunities. The downward target is set at the price of 1.2920.

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GBP / USD. 12th of September. The trading system "Regression channels". Traders are waiting for new hints on the positive

4-hour timeframe

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Technical data:

The senior channel of linear regression: direction - down.

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

The moving average (20; flattened) is up.

CCI: 64.7896

The currency pair GBP / USD on Wednesday, September 12, is still traded above the moving average line, while maintaining a high probability of a further hike upward. From a technical point of view, the pair did not manage to overcome the level of Murray "6/8", so the correction for the purpose of moving the middle line began. And although the last two bars are colored purple with the indicator of Heikin Ashi, the correction can still continue. From a fundamental point of view, there is no new data on Brexit. Nevertheless, as it has already been two times in recent weeks, the slightest hint of progress in the negotiations between the EU and Britain from Theresa May or Michel Barnier, as well as other high-ranking officials, may cause a new demand for the pound sterling. The English currency is now confident with the news of a favorable expectation of the completion of the talks, although there is little optimism in the course of these negotiations. Key issues remain unresolved, and the parties persistently do not want to yield to each other. The political problems of Great Britain also have not disappeared. The chair under the premier of the United Kingdom Theresa May continues to stagger, and the number of dissatisfied with her policies and negotiations on Brexit continues to grow not only in Parliament and among the public, but also in its Conservative Party. Thus, the current growth of the pound looks very unstable. It seems that any negative news on Brexit will send the pound far down.

Nearest support levels:

S1 - 1,3000

S2 - 1.2939

S3 - 1.2878

Nearest resistance levels:

R1 = 1.3062

R2 = 1.3123

R3 = 1.3184

Trading recommendations:

The currency pair GBP / USD is corrected. The long positions are still recommended to be considered, and the nearest targets are 1.3062 and 1.3123. The completion of the correction can be determined by the formation of new 1-2 bars of purple color from the indicator of Heikin Ashi.

The sell-positions are recommended to be opened if the traders cross the moving middle line with the first target level of Murray "3/8" - 1.2878. In this case, the initiative will pass into the hands of bears, preceded by this may be negative news from the UK.

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.

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GBP / USD: plan for the European session on September 12. Brexit talks help the pound move up

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

Bulls missed the market, and for the resumption of the upward movement, a return and consolidation above the resistance level of 1.3020, so desperately defended by the sellers, is required. Only after that it will be possible to count on a repeated wave of growth with the update of the weekly maximum near 1.3077 and the outflow to the area of 1.3119, where I recommend fixing the profit. In the event of a further decline in the pound in the morning, support may be in the area of 1.2977, but in my opinion, consider larger purchases of GBP / USD best for a rebound from the low of 1.2937 and 1.2898.

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

Today, important fundamental statistics are not expected to be released, so the market may remain on the side of the bears. Failure to secure and return to the resistance level of 1.3020 will be a good signal for increasing short positions in the pound, and a repeat support test of 1.2977 may lead to a larger downward wave with weekly lows updated around 1.2937 and 1.2898, where I recommend fixing the profits. In the case of growth above 1.3020 in the morning, selling GBP / USD is best for a rebound from the weekly high of 1.3077.

Indicator signals:

An important signal for bears. The test support of 1.2977 may lead to the intersection of a 30-day moving average from top to bottom 50-day, which will be a clear signal to replace the short-term trend in the direction of sales.

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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

Markets are balancing against the background of trade wars

The next escalation of tension in the trade war between Washington and Beijing again forces investors to show a high degree of caution, which affects the demand for risky assets, and first of all for the shares of companies.

The latest economic statistics from both the US and China showed that the efforts of D. Trump, aimed at shifting the trade balance in favor of America, did not help. He not only declined, but even grew in favor of Beijing. This clearly indicates that the efforts of the Administration and the President personally are in vain. And if there are no significant changes, it will be possible to say that his initiative does not give the desired result, and threats to increase customs duties on imports from the "heavenly" for another $ 267 billion will only cause a deterioration in trade and political relations between the countries.

In the wake of these events, the New Zealand and Australian Dollars remain under pressure in the foreign exchange market, which react negatively to relations between the US and China, as the economies of New Zealand and Australia are very dependent on exports to China. Given this state of affairs, it can be assumed that the currencies of these countries will continue to suffer a negative impact from the trade war.

At the same time, the euro and the British pound froze in anticipation of the outcome of the meetings on the monetary policy of the ECB and the Bank of England. The latest news regarding the conditions for the UK's withdrawal from the EU has instilled optimism, which is supported primarily by sterling, but also does not allow the euro to fall. The hope that by November a satisfactory agreement can be entered into, while it is the main factor in stabilizing the euro and pound exchange rates.

The Russian ruble rose sharply on Tuesday due to a positive opening for Russia of an economic forum in Vladivostok, a rise in crude oil prices, and a sharp drop in OFZ yield amid talks that the CBR may not raise interest rates at the next monetary policy meeting.

The Canadian dollar is also noticeable, according to Tuesday's results, added. It gets support, thanks to the hopes that an agreement will be reached between Canada and the US on NAFTA, as well as a sharp increase in quotations of "black gold", which jumped on the wave of the hurricane Florence approaching to the US coast.

In general, characterizing the situation on the markets, we note that the main factor that is driving the markets is still the trade war between Washington and Beijing, as well as the general escalation of tensions in the world, produced by the US and personally by D. Trump.

Forecast of the day:

The EUR / USD currency pair is trading in the range in anticipation of the outcome of the ECB meeting on monetary policy, as well as Brexit news. It is likely that it will remain in the range of 1.1530-1.1660. We consider possible its local purchases from the lower border and sales from the top.

The AUD / USD currency pair is trading at the level of 0.7100. The escalation of the trade conflict between the US and China will have a negative impact on the pair. The consolidation below this mark will lead to the continuation of the price drop to 0.7025.

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Fractal analysis of the main currency pairs for September 11

Forecast for September 11:

Analytical review of currency pairs in the scale of H1:

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For the EUR / USD currency pair, the key levels on the scale of H1 are: 1.1725, 1.1694, 1.1673, 1.1649, 1.1618, 1.1601, 1.1573 and 1.1525. Here, we follow the formation of the upward structure of September 10. The continued upward movement is expected after the breakdown of 1.1649. In this case, the target is 1.1673 and in the corridor of 1.1673 - 1.1694 is the consolidation. The potential value for the top is the level of 1.1725, from which we expect a rollback.

The short-term downward movement is possible in the corridor of 1.1618-1.1601 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.1573 and this level is the key support for the upward movement of September 10.

The main trend is the formation of the ascending structure of September 10.

Trading recommendations:

Buy 1.1650 Take profit: 1.1673

Buy 1.1695 Take profit: 1.1725

Sell: 1.1618 Take profit: 1.1602

Sell: 1.1598 Take profit: 1.1575

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For the Pound / Dollar currency pair, the key levels on the scale of H1 are 1.3229, 1.3161, 1.3110, 1.3040, 1.3007, 1.2971 and 1.2901. Here, we continue to follow the upward cycle of September 5. The continued upward movement is expected after the breakdown of 1.3110. Here, the target is 1.3161 and near this level is the consolidation. The potential value for the top is the level of 1.3229, upon reaching which we expect a pullback downwards.

The short-term downward movement is possible in the corridor of 1.3040 - 1.3007 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2971 and this level is the key support for the top. Its breakdown will have a downward movement. Here, the target is 1.2901.

The main trend is the upward cycle of September 5.

Trading recommendations:

Buy: 1.3110 Take profit: 1.3160

Buy: 1.3164 Take profit: 1.3227

Sell: 1.3040 Take profit: 1.3008

Sell: 1.3005 Take profit: 1.2973

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For the currency pair Dollar / Franc, the key levels in the scale of H1 are: 0.9846, 0.9802, 0.9786, 0.9764, 0.9729, 0.9712 and 0.9686. Here, we monitor the formation of potential initial conditions for the top of September 7. Currently, we expect a rollback to the corrective zone. The continuation of traffic to the top is possible after the breakdown of 0.9764. In this case, the target is 0.9786 and near this level is the consolidation. The passage at the price of the noise range of 0.9786 - 0.9802 will allow us to count on the movement to the potential target of 0.9846, near this level is the consolidation and pullback downwards.

The short-term downward movement is possible in the corridor of 0.9729 - 0.9712 and the breakdown of the last value will lead to an in-depth movement. Here, the target is 0.9686 and this level is the key support for the top.

The main trend is the formation of the upward structure of September 7.

Trading recommendations:

Buy: 0.9764 Take profit: 0.9784

Buy: 0.9802 Take profit: 0.9842

Sell: 0.9727 Take profit: 0.9712

Sell: 0.9710 Take profit: 0.9688

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For the Dollar / Yen currency pair, the key levels on a scale of H1 are: 112.32, 112.02, 111.83, 111.53, 111.28, 111.06 and 110.47. Here, we continue to follow the upward structure of September 7. The continued upward movement is expected after the breakdown of 111.53. In this case, the target is 111.83 and in the corridor of 111.83 - 112.02 is the consolidation. The potential value for the top is the level of 112.32, upon which we expect consolidation, as well as a pullback downwards.

The short-term downward movement is possible in the corridor of 111.28 - 111.06 and the breakdown of the last value will have a downward structure. In this case, the potential target is 110.47.

The main trend: the upward structure of September 7.

Trading recommendations:

Buy: 111.55 Take profit: 111.80

Buy: 112.04 Take profit: 112.30

Sell: 111.28 Take profit: 111.08

Sell: 111.00 Take profit: 110.70

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For the Canadian Dollar / Dollar currency pair, the key levels on the H1 scale are: 1.3271, 1.3226, 1.3183, 1.3156, 1.3106, 1.3070, 1.3025 and 1.2996. Here, we follow the small downward structure of September 6. The short-term downtrend is expected in the range of 1.3106 - 1.3070 and the breakdown of the last value should be accompanied by a pronounced movement to the level of 1.3025. In the corridor of 1.3025 -1.2996 is the consolidation. Hence, we also expect a rollback to the top.

The short-term upward movement is possible in the corridor of 1.3156 - 1.3183 and the breakdown of the latter value will have an upward tendency. In this case, the first target is 1.3226. The potential value for the top is the level of 1.3271, to which we expect the expressed initial conditions for the upward cycle.

The main trend is the downward structure of September 6.

Trading recommendations:

Buy: 1.3156 Take profit: 1.3181

Buy: 1.3185 Take profit: 1.3226

Sell: 1.3106 Take profit: 1.3072

Sell: 1.3068 Take profit: 1.3027

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For the Australian Dollar / Dollar currency pair, the key levels in the scale of H1 are: 0.7241, 0.7216, 0.7171, 0.7144, 0.7094 and 0.7062. Here, we follow the downward structure of August 28 and expect a rollback upward. The short-term downward movement is expected in the range of 0.7094 - 0.7062, from this corridor there is a high probability of a turn upwards. We do not set further targets for the downward movement.

The short-term upward movement is possible in the corridor of 0.7144 - 0.7171 and the breakdown of the latter value will lead to formation of potential initial conditions for the top. In this case, the target is 0.7216 and the range of 0.7216 - 0.7241.

The main trend is the downward structure of August 28, we expect a pullback to the top.

Trading recommendations:

Buy: 0.7144 Take profit: 0.7170

Buy: 0.7173 Take profit: 0.7210

Sell: 0.7092 Take profit: 0.7062

Sell: Take profit:

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For the currency pair of Euro / Yen, the key levels on the scale of H1 are: 131.29, 130.55, 129.97, 129.35, 128.84 and 127.87. Here, we follow the formation of the potential for the top of September 10. The continuation of the upward movement is expected after the breakdown of 129.97. Here, the target is 130.55 and near this level is the consolidation. The potential value for the ascending structure is still the level of 131.29.

The short-term downward movement is possible in the corridor of 129.35 - 128.84 and the breakdown of the latter value will lead to the development of a downward trend. Here, the potential target is 127.87.

The main trend is the formation of the potential for the top of September 10.

Trading recommendations:

Buy: 129.97 Take profit: 130.50

Buy: 130.58 Take profit: 131.27

Sell: 129.33 Take profit: 128.88

Sell: 128.60 Take profit: 127.90

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For the Pound / Yen currency pair, the key levels on the scale of H1 are: 147.38, 146.99, 146.32, 145.84, 145.15, 144.63 and 143.96. Here, we follow the upward structure of September 7. The short-term upward movement is expected in the corridor of 145.84 - 146.32 and the breakdown of the last value will lead to the development of a pronounced movement. Here, the target is 146.99 and the potential value for the top is the level of 147.38, upon which we expect consolidation, as well as pullback.

The short-term downward movement is possible in the range of 145.15 - 144.63 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 143.96 and this level is the key support for the upward structure of September 7.

The main trend is the upward structure of September 7.

Trading recommendations:

Buy: 145.85 Take profit: 146.30

Buy: 146.35 Take profit: 146.95

Sell: 145.15 Take profit: 144.65

Sell: 144.60 Take profit: 144.00

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

GBP / USD. 11th of September. Results of the day. The European Union may concede in some paragraphs of the Brexit agreement

4-hour timeframe

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Amplitude of the last 5 days (high-low): 65p - 196p - 66p - 120p - 155p.

The average amplitude for the last 5 days: 120p (105p).

The British pound sterling on Tuesday, September 11, virtually repeated the movement of the pair EUR / USD. But at the same time, an upward trend is maintained in the pound, the formation of which raises some questions (we already wrote about this). The fact is that the optimism of traders towards the pound (by the way, very restrained optimism) is based on expectations of a deal between the EU and Britain. And this, in turn, is based on the speech of Michel Barnier, in which he said that 80% of the agreement with Theresa May was achieved. Nevertheless, Barnier himself also noted that there are still issues that could not be negotiated. Meanwhile, in the Conservative Party of Britain, there is a split. This has long been rumored, as the manner of reigning Theresa May, mostly because of Brexit, is not satisfied with everything. Her plan for an agreement with the EU is heavily criticized in the Parliament, and according to rumors, about 80 party representatives are ready to vote against this plan. Undoubtedly, May hopes that the Parliament will support her initiative, but in case of a failure, there will again be talk about Theresa May's possible retirement. If we assume that this will happen, then Boris Johnson, who is an ardent opponent of the "May plan" for secession from the EU, will also apply for her post. Accordingly, the negotiations (which by that time may already be completed) can take place even harder. Of course, all this is just talk. Nevertheless, the key issue on the Northern Irish border remains open. Perhaps, the parties still have to make concessions in order not to heat up the situation even more, and disperse "amicably". In any case, time is less and less.

Trading recommendations:

The currency pair GBP / USD worked out the first target of 1.3034 and began a downward correction. Thus, the price may fall to the critical line, but we do not recommend that you work out a correction now. Also, there is a high probability of flat or frequent corrections and kickbacks.

The buy-positions are recommended to be opened in the case of resumption of the uptrend, which can be determined by turning the MACD indicator upward or by rebounding the price from the critical line. The first target is 1.3034. The second one is 1.3113.

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

Explanations to the illustration:

Ichimoku Indicator:

Tenkan-sen is a red line.

Kijun-sen is a blue line.

Senkou Span A is a light brown dotted line.

Senkou Span B - a light purple dotted line.

Chinkou Span is a green line.

Bollinger Bands Indicator:

3 yellow lines.

MACD indicator:

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

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

EUR and GBP fall. EU-US talks failed

The trade war will continue. Negotiations of high-ranking representatives of the European Union and the United States failed to produce any results. In this regard, it is difficult to expect that the agreement that was reached during the meeting of US President Donald Trump with the chairman of the European Commission Jean-Claude Juncker will be respected.

The administration of the White House is not yet up to the aggravation of trade relations with the EU, since all attention is focused on the trade war with China. Until the first results of "spoiled relations" with the Celestial are reached, it is unlikely that Trump will begin an open "war" with the EU.

All that is known at the meeting of US Trade Representative Robert Lighthizer and member of the European Commission Cecilia Malmstrom is that the talks were constructive and aimed at the future. However, as always.

The data published today in the morning on the growing German economy helped the euro to update its weekly highs.

According to the report of the ZEW scientific center, the index of economic expectations in September of this year continued its growth and amounted to -10.6 points against -13.7 points in August. Economists had expected this figure at -12.9 points. The data is outstripping. According to ZEW, the growth in economic expectations can be explained by the conclusion in August of a bilateral trade agreement between the US and Mexico.

The index of current conditions in the German economy in September was 76.0 points compared to 72.6 points in August.

Data on the US economy encouraged investors, as the indicator of the mood of small business owners in the US reached a new record level.

According to the report of the National Federation of Independent Business of the USA, the optimism index of small business in August 2018 increased by 0.9 points and amounted to 108.8 points. It should be noted that out of the ten components that make up the index, six showed growth.

As for the technical picture of the EUR / USD currency pair, the pressure on the euro after the unsuccessful growth above 1.1620 rose. The breakthrough of support 1.1580 will lead to a new wave of short positions in risky assets, which will push the trading instrument even lower, to the lows of 1.1550 and 1.1525.

The British pound rose in the morning on data on unemployment in the UK. According to the report of the National Bureau of Statistics of Great Britain, the number of unemployed from May to July this year fell by 55,000, and the unemployment rate was 4.0%. But the number of economically inactive population increased by 108,000 people.

In this report, a more important component is the growth of wages, which will have a positive impact on consumer spending and will support economic growth in the future. A healthy labor market will also allow the Bank of England to continue raising interest rates.

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According to the data, wages in the period from May to July increased by 2.9% compared to the same period of the previous year after an increase of 2.7% on average between April and June.

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

Analysis of EUR / USD Divergences for September 11. Possible rebound from 1.1605 and the fall of the euro

4h

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The currency pair EUR / USD on the 4-hour chart has made a callback from the correction level of 50.0% to 1.1546 and an increase to the correction level of 61.8% to 1.1605. The end of the quotes on September 11 from the Fibo level of 61.8% will allow us to count on a reversal in favor of the US dollar and a slight drop towards the correction level of 50.0%. Brewing divergences are not observed today. Fixing the pair above the Fibo level 61.8% will increase the chances for further growth in the direction of the next correction level of 76.4% - 1.1675.

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

Daily

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On the 24-hour chart, the pair made a return to the Fibo level of 100.0% - 1.1553 and a retreat from it. As a result, the quotes of the pair executed a turn in favor of the European currency and began the process of growth towards the correctional level of 76.4% - 1.1789. There are no maturing divergences in any indicator. The consolidation of the pair's rate below the Fibo level of 100.0% can be interpreted as a reversal in favor of the US currency and expect a resumption of the decline in the direction of the correction level of 127.2% to 1.1285.

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

Recommendations for traders:

New purchases of the EUR / USD pair can be carried out with the goal of 1.1675 with a Stop Loss order under the Fibo level of 61.8% if the pair completes closing above the correction of 1.1605.

Sales of the EUR / USD pair will be possible with the goal of 1.1546 with a Stop Loss order above the Fibo level of 61.8% if the pair retires from the level of 1.1605.

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

Analysis of GBP / USD Divergences for September 11. The pair has reached a level of strong resistance

4h

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The currency pair GBP / USD on the 4-hour chart reversed in favor of the pound sterling without the formation of any signal and an increase to the correction level of 200.0% - 1.3047. End of quotes from the level of Fibo 200.0% will allow traders to count on a reversal in favor of the US dollar and a slight drop towards the correctional level of 261.8% - 1.2637. There are no maturing divergences today. The consolidation of quotations above the Fibo level of 200.0% will work in favor of continuing growth towards the next corrective level of 161.8% - 1.3301.

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

1h

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On the hourly chart, the pair completed growth to a corrective Fibo level of 100.0% - 1.3043. The second retreat from this level will allow us to expect a reversal in favor of the US dollar and a slight drop in the direction of the correction level of 76.4% to 1.2982. There are no emerging divergences on September 11. Fixing the pair's rate above the Fibo level of 100.0% will increase the likelihood of further growth in the direction of the next correction level of 127.2% - 1.3113.

The Fibo grid is built on extremes from August 30, 2018, and September 5, 2018.

Recommendations for traders:

New purchases of the GBP / USD pair can be made with the target of 1.3113 and a Stop Loss order under the correction level of 100.0% if a close above the correction level of 1.3043 (hour chart) occurs.

Sales of the GBP / USD pair will be possible with targets of 1.2982 and 1.2944 and a stop loss order above the correction level of 100.0% if the pair retires from the Fibo level 1.3043.

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

EUR / USD pair for September 11. Results of the day. Multidirectional bidding as a consequence of the lack of new important

4-hour timeframe

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Amplitude of the last 5 days (high-low): 92p - 90p - 53p - 98p - 90p.

The average amplitude for the last 5 days: 85p (74p).

The EUR / USD currency pair traded without a definite trend on Tuesday, September 11. At the beginning of the day, it grew followed by a decline. In general, the downward trend in the instrument remains, but now it looks very unconvincing. The markets are clearly hiding and waiting for new data from the White House. Those who can receive these data are already plenty. At a minimum, this is a trade war (in the near future the States can introduce a new duty package against China) and a scandal involving a conspiracy against Trump. But since there is no news yet, there are no strong trend movements either. Of the macroeconomic reports, there is also nothing to highlight today. Thus, from a purely technical point of view, the downward movement may continue, but it is necessary to closely and accurately monitor possible corrections. The correction turns in the coming days, if there is no new important information, there may be a lot, up to the transition of the pair to flat. Bollinger bands already indirectly indicate a lateral movement, and the "dead cross" is extremely unconvincing. In general, at this stage, the US dollar needs fundamental support for further growth, but whether it will act, now this is a big question. It can do, but will the markets now buy dollars on a rush after the information about a whole group of politicians dissatisfied with Trump's management surfaced. Now, the big question is whether she will act on it.

Trading recommendations:

For the EUR / USD pair, the price was fixed below the critical line, however, the downward movement is currently sluggish. Formally, the goal is the first level of support at 1.1502 and it can be bargained off before the MACD indicator turns up, which indicates a new round of correction.

Buy-positions are recommended to be considered only after overcoming the Kijun-sen line and the Ichimoku cloud. It should also be taken into account now that there is a rather high probability of flat, especially if there is no new important information from the White House.

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

Explanations to the illustration:

Ichimoku Indicator:

Tenkan-sen is a red line.

Kijun-sen is a blue line.

Senkou Span A is a light brown dotted line.

Senkou Span B - a light purple dotted line.

Chikou Span is a green line.

Bollinger Bands Indicator:

3 yellow lines.

MACD indicator:

Red line and histogram with white bars in the indicator window.The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of AUD/USD for September 12, 2018

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Overview:

Pivot point: 0.7143.

The AUD/USD pair fell 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. Besides, 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 0.7240as targets.

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

Technical analysis of NZD/USD for September 12, 2018

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Overview:

The NZD/USD pair continues to move downwards from the level of 0.6580. Yesterday, the pair dropped from the level of 0.6580 to the bottom around 0.6498. But the pair has rebounded from the bottom of 0.6498 to close at 0.6520. Today, the first support level is seen at 0.6452, the price is moving in a bearish channel now. Furthermore, the price has been set below the strong resistance at the level of 0.6580, which coincides with the 23.6% Fibonacci retracement level. This resistance has been rejected several times confirming the veracity of a downtrend. Additionally, the RSI starts signaling a downward trend. As a result, if the NZD/USD pair is able to break out the first support at 0.6452, the market will decline further to 0.6406 in order to test the weekly support 2. Consequently, the market is likely to show signs of a bearish trend. So, it will be good to sell below the level of 0.6539 with the first target at 0.6452 and further to 0.6406. However, stop loss is to be placed above the level of 0.6580.

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

Wave analysis of GBP / USD for September 11. The wave pattern becomes entangled

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Analysis of wave counting:

During the trades on September 10, the GBP / USD currency pair added about 100 percentage points and broke through a maximum of August 30. Thus, there are grounds for assuming a complication of the internal wave structure of the proposed wave 4, and even the entire wave counting. The wave pattern becomes entangled and time is needed to make the situation clear. Attempt to break the level of 200.0% of Fibonacci failed, which gives reason to expect the withdrawal of quotations from the achieved highs. At the same time, the breakthrough of this level will lead to further growth of quotations.

The objectives for the option with purchases:

1.3042 - 0.0% of Fibonacci retracement

1.3300 - 161.8% of Fibonacci (the senior grid)

The objectives for the option with sales:

1.2636 - 261.8% of Fibonacci (the highest grid)

1,2556 - 127.2% of Fibonacci retracement

General conclusions and trading recommendations:

The GBP / USD currency pair complicates the wave counting. The key level now is the level of 200.0% of Fibonacci. A successful breakout attempt will lead to a new growth of quotations with targets near the calculated mark of 1.3300, and to the complication of wave 4. Failure can return the pair to the execution of the working variant with a decrease with some additions. We are waiting for clarification of the situation.

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

Wave analysis of EUR / USD for September 11. The growth of the dollar can be completed in the coming weeks

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Analysis of wave counting:

During the trades on Monday, the currency pair EUR / USD rose by 45 percentage points, but also managed to update the minimum of the expected wave a, 2, a. Thus, there are reasons to assume completion of the construction of the entire wave 2, a. Given some instability in the foreign exchange market in recent days, wave 2, a, can take even more complex shape. Nevertheless, now the working option is a variant with an increase in quotes within the assumed wave 3, a, upward trend section.

The objectives for the option with sales:

1.1517 - 50.0% of Fibonacci retracement

1.1465 - 61.8% of Fibonacci retracement

The objectives for the option with purchases:

1.1733 - 0.0% of Fibonacci retracement

General conclusions and trading recommendations:

The currency pair again supposedly completed the construction of wave 2, a. If this is the case, then from the current position, the pair will continue to grow with targets located near the estimated mark of 1.1733, which corresponds to 0.0% of Fibonacci, and higher. So, I recommend buying a pair with a designated goal. A successful attempt to break through the minimum of the assumed wave c, 2, a, will lead to an even more complicated wave 2, a.

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

Control zones of the currency pair GBP / USD as of September 11, 2018

Today, the pair is testing a weekly short-term fault at 1.3048-1.3024, which will be crucial for further medium-term traffic. Closure of trading above the above zone will help to keep purchases opened yesterday.

Yesterday's test of NCP 1/2 1.2907-1.2895 led to the emergence of large demand in the US session and the absorption of the Friday's fall, which occurred due to expiration of options. This fact speaks for the continuation of the upward movement, started on September 5. If today's US session closes above 1.3048, then the next bull momentum will be NCP 1/2 1.3180-1.3168, and any decline can be perceived as a correction and used to open a long position.

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It is better to refrain from buying at current prices, as the pair is trading close to the August high, which may lead to the appearance of a large offer. This does not allow you to set an adequate stop and makes purchases unprofitable.

To cancel the ascending option, it will require the appearance of a large offer and the absorption of yesterday's growth. The probability of forming such a model is 30%, so sales from current marks, as well as purchases, are not profitable. To open sales requires the formation of a reversal pattern. From the above, we can conclude that the only plan so far remains the retention of yesterday's purchases. The topping will become possible after the today's US session is fixed above the weekly short-circuit.

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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

Control zones of the currency pair EUR / USD as of September 11, 2018

Yesterday, there was another test of the weekly short-term fault of 1.1550-1.1532, which led to an increase in demand. Today, the pair is testing the determining resistance. This will provide an opportunity to consider both purchases and sales of the instrument after the close of the American session.

Yesterday's growth led to the continuation of work within the medium-term accumulation zone. Today, the pair is testing the determining zone of resistance NCP 1/2 1.1627-1.1618. The further priority will depend on how the US session closes. If the closure occurs below the specified zone, the flat will continue, and the first goal of the fall will again be a weekly short-circuit. Closure of today's trading above the zone will allow talking about the resumption of long-term bullish momentum. The purpose of the growth will be a one-week short-term short-term period of 1.1732-1.1714, which will allow any fall to be used to obtain profitable purchase prices.

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Work within the framework of the flat implies a partial fixation of purchases made from the level of 1.1537 on the current NCP 1/2. The rest of the long position can be transferred to a breakeven and left in case of continued growth.

An ascending model can become a priority for a long time, as the pair could not overcome the main medium-term support in the form of a weekly short-term. Closure of today's US session above NCP 1/2 will allow you to exit the accumulation phase. The August maximum will be the first goal of the upward movement, which will continue the momentum begun in the middle of last month. The potential for growth is 250 points, which makes long trades profitable after the implementation of the reversal pattern.

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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

Any positive for Brexit

Yesterday's statement by the Brexit negotiator from the European Union M. Barnier that there is an opportunity to reach an agreement with the UK in terms of withdrawal from the EU by November has stirred up the foreign exchange market and allowed the British currency to be significantly added against the major currencies.

Earlier last week, the similar news that Germany and Britain softened the requirements for the terms of the last EU withdrawal, supported the pound sterling. It can be assumed that if the flow of positive news continues, it will locally support its course, and in the long term, reaching an agreement will deploy it up against major currencies, including the US, as high inflation will force the Bank of England to raise interest rates further, and problems exit the country from the EU go to the last plan.

Today, the market will closely monitor the outgoing data from Britain. The focus will be on employment and average wages. It is expected that the unemployment rate will remain at the same level, 4.0%, but the number of applications for unemployment benefits will grow in August to 10 000 against 6 200 in July. It is assumed that the value of the average wage level taking into account the premiums will also remain at the same level, 2.4%.

How can these data affect the course of sterling? In our opinion, no way. The whole focus of the market is directed specifically to the dynamics of negotiations on Brexit. The bidders are not interested in anything, except for the dynamics of the negotiations, since this is the determining factor that is able to deploy the rate of the British currency both up and down. For two years, Brexit's theme has had a powerful impact on the dynamics of the British currency, and now any positive or negative news will have a decisive influence.

In addition to the news from the "foggy Albion", today attention should be paid to the publication of the data of the ZEW economic sentiment index from Germany and the eurozone. It is expected that the German index will fall to minus 14.0 points versus minus 13.7 points, and the eurozone, on the contrary, will reduce the negative dynamics to minus 10.9 points against minus 11.1 points.

Forecast of the day:

The currency pair EUR / USD is trading below the level of 1.1620, trying to grow on the wave of hopes that the situation with Brexit will be resolved by November. But despite this, the pair still remains in the range of 1.1530-1.1730, which is likely to remain until the ECB meeting on monetary policy. Overcoming the price at the level of 1.1620 can lead to its local increase to 1.1660.

The GBP / USD currency pair is trading above the level of 1.3030, consolidating above which could become the basis for continuing the local growth of the pair to 1.3125.

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

EUR / USD and GBP / USD: trading plan for the European session on September 11

EUR / USD

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

The euro rose after the pound against the backdrop of the latest Brexit news. To maintain the upward trend, buyers need a breakthrough and consolidation above the resistance level of 1.1611, which leads to a new wave of growth in the area of the high at 1.1647, with an update to the level of 1.1686, where I recommend fixing the profits. In the case of a decline in the euro in the morning, opening long positions is best when forming a false breakout in the area of 1.1579 or a rebound from 1.1554.

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

Bears today need to form a false breakdown at the level of 1.1611. This will be the first signal to maintain the downward trend, formed at the end of last week. The main task of the sellers will be a breakthrough and consolidation under the level of 1.1579, which will quickly push the euro into the support areas of 1.1554 and 1.1529, where I recommend fixing the profits. If EUR / USD rises above 1.1611, selling in the first half of the day can be on the rebound from resistance 1.1647.

Indicator signals:

The 30-day moving average pierces from the bottom up. The 50-day moving average is a buy.

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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

GBP / USD

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

While the trade is above the support level of 1.3024, demand for the pound will remain, which will lead to the renewal of the next monthly highs around 1.3079 and 1.3119, where I recommend fixing the profits. However, do not forget about the undulating market, which demonstrates the GBP / USD pair against the background of rumors of Brexit. Therefore, if the pound is lowered in the morning under the support of 1.3024, it is better to go back to long positions for a rebound from the level of 1.2982 and 1.2946.

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

Sellers will prove themselves after the upgrade of the large resistance 1.3079. However, opening short positions from him is best after forming a false breakdown. Immediately on the rebound to sell a pound I recommend from a maximum of 1.3119. The main task of the sellers will be to return to the support area of 1.3024, below which the pressure on GBP / USD will increase, which will lead to a sharp decrease and update of the level of 1.2982 and 1.2946, where I recommend fixing the profits.

Indicator signals:

The 30-day moving average is above the 50-day average - the bullish trend is maintained.

analytics5b975b5eac6d5.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 12/09/2018

Despite the generally positive mood on Wall Street (SP500 + 0.37%), Asian markets have not decided to maintain their sentiment and are now falling down towards 14-month lows, because the concern over the escalation of the US-China trade dispute is coming up. Chinese Shanghai Composite losing 0.2-0.3% during most sessions, although at the end of the day it tries to bounce back. Japanese Nikkei dropped by 0.3%.

CAD strengthened at night, bringing USD / CAD to 1.3060. NAFTA negotiations are ongoing, but the reports seem positive. US President Trump said that the talks go "very well". Reuters also reported that Canada is ready to ease its strict rules protecting the dairy sector and allow the US access to this market - one of the key issues during the ongoing negotiations.

On Wednesday, the 12th of September, the macroeconomic calendar may seem not very rich in important data releases, it is worth bearing in mind the situation in Great Britain, where the discussion about Brexit is getting hotter. There have been rumors of plans to remove Theresa May from power. During the European session, we will get inflation data from Spain and the volume of industrial production in the EU. In the afternoon there will be more interesting information about PPI and crude oil inventories in the USA.

EUR/USD analysis for 12/09/2018:

US small business optimism rose to the highest level on record (since the mid-1970s). The yesterday's data were better than expectations of 108.1 points as the final figure was at the level of 108.9 (survey of small businesses which asks respondents to rate the relative level of economic conditions including labor markets, inventories and sales, capital spending, inflation, earnings and wages, and credit markets). High optimism is generally associated with positive business investment growth and supports our view that the US expansion continues. US equities rallied and the oil price increase fuelled rising yields further.

Let's now take a look at the EUR/USD technical picture at the H4 time frame. The price failed to break out of the black channel higher line and went back to the channel zone despite the better than expected data (record high in fact). The market conditions are still neutral as the momentum indicator is hovering around its fifty level, so does the stochastic. The nearest technical support is seen at the level of 1.1565 and the nearest technical resistance is seen at the level of 1.1617.

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

Technical analysis: Intraday Level For EUR/USD, Sept 12, 2018

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When the European market opens, some Economic Data will be released such as German 30-y Bond Auction, Italian Quarterly Unemployment Rate, Industrial Production m/m, and Italian Industrial Production m/m. The US will release the Economic Data too, such as Beige Book, 10-y Bond Auction, Crude Oil Inventories, Core PPI m/m, and PPI 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: 1.1651.

Strong Resistance:1.1644.

Original Resistance: 1.1633.

Inner Sell Area: 1.1622.

Target Inner Area: 1.1595.

Inner Buy Area: 1.1568.

Original Support: 1.1557.

Strong Support: 1.1546.

Breakout SELL Level: 1.1539.

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 12, 2018

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In Asia, Japan will release the BSI Manufacturing Index data, and the US will release some Economic Data such as Beige Book, 10-y Bond Auction, Crude Oil Inventories, Core PPI m/m, and PPI 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: 112.11.

Resistance. 2: 111.89.

Resistance. 1: 111.67.

Support. 1: 111.40.

Support. 2: 111.18.

Support. 3: 110.96.

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 investmoney that you cannot afford to lose. You should be aware of all therisks 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

Global macro overview for 12/09/2018

The Russian Minister of Energy, Aleksander Novak, announced that he would like to discuss the possibility of cooperation with the United States. He believes that the energy agreement between these countries is important for the stability of the global economy. According to Novak, the crude oil market is still very sensitive to news, it is mainly the fault of geopolitical factors. The market behavior should still be observed. The June decision of OPEC on the increase in the supply of raw material was a good choice. Novak also announced that Russia has the potential to increase production by another 300,000. barrels a day in the next 12 months. It does not exclude that the price of oil may fall in winter due to lower demand. All supply decisions will depend on market needs. Brent crude prices have gone up in the last hours, currently, it is around USD 79 per barrel.

Let's now take a look at the Crude Oil technical picture at the H4 time frame. The price has broken above the technical resistance (now support) at the level of 69.58 and made a local high at the level of 70.05. The low at the level of 66.80 might be considered as a higher low, which might suggest the uptrend to resume soon. In order to continue higher, the market should break through the swing high at the level of 71.40 and head towards the level of 71.69 and 72.13. Please notice, the momentum is strong and positive, so it supports the current bullish outlook.

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

Global macro overview for 12/09/2018

During the next week, the global investors will find out whether the leaders of the European Union will agree to the Brexit proposal presented by the United Kingdom. There are rumors in the financial press that if the plan is rejected, the parliament will want to dismiss Theresa May. A group of over 50 parliamentarians, mainly from the Conservative Party, wants to end the term of the Prime Minister. The other rumors say, that the government is currently working on moving away from "soft Brexit" towards a more radical exit. This is to be May's way of avoiding a political catastrophe.

Juncker announced that the European Union is going to keep a firm stance on the conditions for the departure of Great Britain. In his opinion, the British negotiators should not expect a softening of demands. On the other hand, he assured, however, that the Union will be open to close cooperation with the UK after Brexit. However, the issue of the Irish border remains disputable.

Let's now take a look at the GBP/USD technical picture at the H4 time frame. The closer to the Brexit date, the more volatility it will probably be at the pound. GBP/USD is still above the round level of 1.30, although yesterday there were falls below this barrier for several hours. The local low was made at the level of 1.2965 after a very interesting candlestick was made. In the time of writing this article, the price is going down towards the level of 1.3000 already, the next technical support is seen at the level of 1.2965, just above 38% Fibo at 1.2972.

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