Intraday technical levels and trading recommendations for GBP/USD for November 14, 2018

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Since September, the GBP/USD pair has been demonstrating a successful bullish breakout above the depicted daily downtrend line which came to meet the pair around 1.3025-1.3090.

On September 21, the GBP/USD failed to demonstrate sufficient bullish momentum above 1.3296. The short-term outlook turned to become bearish to test the backside of the broken uptrend.

On H4 chart, the GBP/USD pair looked oversold around the price levels of 1.2700 where profitable BUY entries were suggested.

As for the bullish DAILY breakout scenario to remain valid, quick bullish breakout above 1.3000 (50% Fibo level) was achieved two weeks ago.

This enhanced further bullish advancement towards the price level of 1.3170-1.3200 where the depicted downtrend came to meet the GBP/USD pair.

Last week, signs of bearish rejection were demonstrated around the price zone of 1.3170-1.3200 (the depicted downtrend).

This initiated the current bearish pullback towards the depicted demand-zone of (1.2850-1.2780) where early signs of bullish rejection were recently demonstrated. The price level of 1.2980 is the key-level for short-term expectations.

Bullish fixation above 1.2980-1.3000 is needed to allow further bullish advancement towards 1.3150 where the depicted downtrend line comes to meet the GBP/USD pair. Otherwise, the pair remains trapped between 1.2980 and 1.2850.

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GBP / USD pair: plan for the US session on November 14. The pound is subject to volatility before the decision of the Cabinet

To open long positions on the GBP / USD pair, you need:

The growth of the pound will be only under the condition that the Cabinet of Ministers of the United Kingdom approves the plan of the preliminary agreement to which the negotiators arrived yesterday. Any news will be actively worked out by the market. In this regard, I do not recommend relying only on technical analysis today. The breakthrough in the resistance of 1.2962 may lead to more active purchases by large players, as well as to an update of the maximum of 1.3040, where I recommend taking profits. In the case of a decrease in the pound on the news on Brexit, support this time be found at the area of 1.2825.

To open short positions on the GBP / USD pair, you need:

Bears need to hold below the resistance of 1.2962, which will lead to a resale to the support area of 1.2891 and its breakdown will only increase the pressure on the British pound. If the British Cabinet of Ministers does not agree with the proposed agreement, it is likely that the fall of the pound will once again begin at a faster rate. In this case, we can expect an update of the minima of 1.2825 and 1.2767, where I recommend to fix the profit. If the GBP / USD growth scenario is above the resistance of 1.2962, you can sell for a rebound from the maximum of 1.3039.

Indicator signals:

Moving averages

Trade is conducted in the 30- and 50-day average, which indicates the lateral nature of the market.

Bollinger bands

Upward correction will be limited by the upper border of the indicator around 1.3039.

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Description of indicators

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20

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EUR / USD pair: plan for the US session on November 14. Euro declined on weak eurozone GDP data

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

Weak data on the eurozone's growth of GDP in the 3rd quarter of this year led to a slight downward correction in EUR / USD in the first half of the day. At the moment, it is possible to count on long positions after the formation of a false breakdown in the support area of 1.1258 or on a rebound from a minimum of 1.1226. The main task of the buyers is still a breakthrough and consolidation above the resistance of 1.1300, which will allow to form the lower limit of the new ascending channel and update the highs around 1.1357, where I recommend taking profits.

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

The bears managed to keep the pair below the resistance level of 1.1300, which led to a small downward trend in the first half of the day, which has not yet received a continuation. The main objective remains the breakdown of the support level in the area of 1.1258, which will already collapse the EUR/USD pair in the area of a larger level of 1.1226, where I recommend taking profits. If the euro rises in the second half of the day above the resistance of 1.1300, short positions can be returned to rebound from the maximum of 1.1357.

Indicator signals:

Moving averages

Trade is conducted in the 30- and 50-day average, which indicates the lateral nature of the market.

Bollinger bands

Trade is conducted in the 30- and 50-day average, which indicates the lateral nature of the market.

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Description of indicators

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20

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Simplified Wave Analysis. Review of GBP / USD pair for the week of November 14

Wave pattern on the H4 chart:

The direction of the short-term trend of the pound major pair sets the rising wave of August 15. It has a flat character of movement in the form of a standard plane.

Wave pattern on the H1 chart:

The bearish section of the schedule on September 20 is fully completed. It became a correction in the main model.

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Wave pattern on the M15 chart:

The rise of the pair started on October 30 gave rise to the final part (C) on the H4 wave. The first 2 parts (A-B) are completed in the movement structure. In the near future possible, a short-term downward rollback of the price. gUtjX-Qa4bVAaSqeBvXvssByo30dV213qZR1o61-

Recommended trading strategy:

Coming up for a week. For all trading styles, you need to look for entry signals in long positions.

Resistance zones:

- 1.3220 / 1.3270

Support areas:

- 1.2950 / 1.2900

Explanations of the figures:

The simplified wave analysis uses waves consisting of 3 parts (A – B – C). For the analysis, three main TFs are used. On every last part, the incomplete wave is analyzed. Zones show calculated areas with the highest probability of reversal.

The arrows indicate the wave marking by the method used by the author. The solid background shows the formed structure while the dotted shows the expected movement.

Note: The wave algorithm does not take into account the duration of tool movements over time. To conduct a trade transaction, you need confirmation signals from the trading systems you use!

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Another blow to the euro. The German economy has substituted a single currency

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In the third quarter, the German economy declined for the first time since 2015. Global trade conflicts have adversely affected exports, the traditional growth mechanism of Europe's largest economy, causing concern that stable growth over the past decade has not been sustainable today.

The Federal Statistical Office reported that in the third quarter, GDP declined by 0.2 percent compared to the previous year, the economy grew by 1.1 percent year-on-year, while analysts expected 1.3 percent. "A small decline in GDP compared with the previous quarter was mainly due to a decline in foreign trade. Preliminary estimates show that exports declined in the third quarter, but there were more imports than in the second," the Office noted.

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The fall in GDP was recorded for the first time after the first quarter of 2015. At the same time, the government does not consider what is happening as a cause for concern, explaining the decline in temporary difficulties in the automotive sector caused by the introduction of new pollution standards, known as WLTP. "Germany has no economic problems, but rather there are problems in the automotive industry. Due to the new rules for car certification, production should be significantly reduced, which will cause damage to other sectors of the economy," said Andreas Scheuerle from DekaBank.

However, the ZEW Research Institute believes that the German economy will not be able to recover quickly after a recession in the third quarter. Including due to growing concerns about the negative impact of global trade conflicts and the UK exit from the EU.

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A pound can take off to $ 1.40

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According to some experts, if the United Kingdom succeeds in reaching an agreement with the European Union on the country's withdrawal from the alliance, the GBP / USD pair will rise to 1.40.

"The pound is now undervalued due to the risk of Brexit. We believe that in the future, the British currency may well reach the $ 1.40 mark", representatives of Merian Global Investors said.

"The pound is now at a crossroads. The presence of the deal and the "soft" Brexit will push GBP / USD upwards, towards 1.40, otherwise, the pair may fall to the level of 1.20," JPMorgan Asset Management specialists noted.

Whether the pound sterling can achieve outstanding results, time will tell, since Theresa May still has to convince the Cabinet of Ministers to support the draft agreement she is promoting, and it will not be easy for the premier to do so. Moreover, in the future, individual EU countries may still follow objections regarding the compromise version of the "divorce" document.

On the eve of the BBC channel, citing a source from the British government reported that London and Brussels agreed on a draft treaty on the Brexit at the level of experts.

Today, the country's cabinet must meet to discuss its provisions.

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A preliminary agreement on Brexit will be considered in the cabinet. Italy has left the budget unchanged

The euro and the pound rose after the good news that the negotiators from the UK and the EU had reached a preliminary agreement on Brexit.

Let me remind you that all the attention of traders and investors yesterday was focused on the decision on Brexit, as well as on the failure of the Italian government on the budget for 2019, which we will discuss below.

Brexit

The main problem of concluding an agreement was the border of Ireland. Negotiators for a long time tried to avoid the establishment of a physical border in Ireland. It is now known that the new agreement does not provide for a strict border, which may force Northern Ireland to disobey British rules and regulations. This moment will also be studied in detail in the British Cabinet of Ministers, where Prime Minister Theresa May today will transmit the text of the agreement, which has more than 200 pages. Then, if approved by the cabinet, this agreement will be passed to parliament.

The UK government has already announced that the cabinet today will hold a meeting this afternoon to consider a preliminary agreement on Brexit. Any news regarding this agreement will lead to a surge in volatility in the GBP / USD pair. It is likely that, if the preliminary agreement is approved in the cabinet, the British pound will significantly strengthen its position against the US dollar. If not, then investor optimism will suffer severely, collapsing GBP / USD to recent lows.

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As for the technical picture of GBP / USD, a breakthrough of resistance at 1.3020 will be a good prerequisite for the continuation of the strengthening of the trading instrument to the highs of 1.3100 and 1.3170. The main driver of growth for the pound in the morning can be a report on inflation. In the case of decline, the bulls will return to the market on the test of support 1.2930 and slightly lower, from a minimum of 1.2895.

Italian government

Returning to the topic of the Italian budget, it is expected that the new authorities went against the European Commission and left the budget deficit for the next year in the form in which the original was proposed. In other words, the Italian budget goes beyond the rules set by the EU.

Yesterday, in the evening, the Italian Government notified the European Commission that it would implement its budget plans, violating EU rules. Italian Economy Minister Giovanni Tria said that the government will fully fulfill its election promises, and this requires an increase in the budget deficit next year to 2.4% of GDP.

Why the euro did not fall? The first reason was the fact that quotes have already taken into account this version of events. The second reason could be the addition, which was set forth in the letter. The point is that the Italian authorities are ready to sell state assets worth 1% of GDP next year, and the proceeds from this will be used to reduce the level of debt. According to their plan, sales will help Italy in 2021 to reduce debt to 126% of GDP from 131.2%, which will be achieved this year. It is also expected that in 2019, the economy will show an increase of 1.5%.

Yesterday's data from the US Treasury Department on the growth of the US budget deficit did not greatly affect the market, since it has long been a little surprising among the participants.

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According to the data, the US budget deficit in October of this year amounted to $ 100 billion against a deficit of $ 63 billion in October 2017. As before, the growth in spending outpaced revenue growth. Currently, the deficit is 4% of the gross domestic product of the country.

The ministry also said that federal government spending rose by 18%, while revenues in September increased by only 7% compared with the same period of the previous year.

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The pound and the euro rushed up against the background of Brexit movements

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Today, the euro and the pound have gone up, as investor confidence in these currencies has increased due to the fact that the United Kingdom partially coordinated the draft divorce agreement with the European Union after more than one year of negotiations.

The surge in the growth of the euro and pound helped investors to take profits against the US dollar, which at the beginning of the week reached its 16-month maximum.

The dollar index, which demonstrates its value compared to the six major world currencies, is trading at 97.03 today, which is 0.28 percent less than yesterday's value. Recall that on Monday, the dollar index reached its 16-month high of 97.69.

Sale of dollar positions due to improved sentiment regarding the possibility of optimal resolution of the situation for Brexit, and not because of any deterioration in the main indicators of the US economy. Note that the euro and pound sterling account for about 70 percent of the weight in the dollar index.

The British pound is trading at $ 1,3006 on Wednesday, gaining 0.25 percent, as traders cut bear rates after the United Kingdom and the European Union agreed on a preliminary text of the agreement that would allow the United Kingdom to leave the EU.

Returning to positive sentiment amid the prospect of a potentially smooth and orderly Brexit deal, the euro rose 0.14 percent today to $ 1,175.

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Simplified Wave Analysis. Review of USD / CHF pair for the week of November 14

Wave pattern on the H4 chart:

The main trend of the franc major pair is given by the rising wave since the beginning of the year. The scale of which is close to the daily one. The wave sections formed the first 2 parts (A-B) on the H4 chart.

Wave pattern on the H1 chart:

On September 21, an ascending section started and will eventually move to a larger scale of movement. In the D1 model, the final part (C) began which explains the pronounced impulsive nature of the movement.

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Wave pattern on the M15 chart:

On November 7, a new ascending wave zigzag started. The price rolls back down on the past two days, forming an intermediate correction. After its completion, the recovery will continue. zac68UKz_h04vXiJiK7I9Y-80qWFfG8VeUzIKG9O

Recommended trading strategy:

Due to the small size of the expected decline in sales, the pair is not recommended. A new round of price growth is expected in the coming weeks. It is worth paying attention to the signal purchase tool.

Resistance zones:

- 1.0250 / 1.0300

Support areas:

- 1.0020 / 0.9970

Explanations to the figures:

The simplified wave analysis uses waves consisting of 3 parts (A – B – C). For the analysis, three main TFs are used. On every last part, the incomplete wave is analyzed. Zones show calculated areas with the highest probability of reversal.

The arrows indicate the wave marking by the method used by the author. The solid background shows the formed structure while the dotted shows the expected movement.

Note: The wave algorithm does not take into account the duration of tool movements over time. To conduct a trade transaction, you need confirmation signals from the trading systems you use!

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

Indicator analysis. Daily review for GBP / USD pair on November 14, 2018

On Tuesday, the price moves up, testing the rolling level of 61.8% at 1.3042 (blue dashed line). On Wednesday, a strong calendar news is expected at 8.30 and 12.30 London time. There will most likely be a downward lateral movement.

Trend analysis (Fig. 1).

On Wednesday, the price will move downwards with the first goal at the rolling level of 50.0% at 1.2938 (blue thin line).

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Fig. 1 (daily schedule).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis - up;

- trend analysis - down;

- Bollinger lines - down;

- weekly chart - down.

General conclusion:

On Wednesday, the price will move downwards with the first goal at the rolling level of 50.0% at 1.2938 (blue thin line).

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Indicator analysis. Daily review for EUR / USD pair on November 14, 2018

On Tuesday, the price moved upwards into a pullback, showing that the support line 1.1270 (blue thick line) was pierced down by inertia. The market closed above the support line, pointing to a false breakdown. Today, the price will once again try to break through the support line. Today, a strong news is expected at 12.30 London time.

Trend analysis (Fig. 1).

On Wednesday, it is possible to continue the downward movement with the first goal at the recoiling level 61.8% - 1.1188 (blue dashed line).

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Fig. 1 (daily schedule).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis - up;

- trend analysis - down;

- Bollinger lines - down;

- weekly chart - down.

General conclusion:

On Wednesday, it is possible to continue the downward movement with the first goal of the recoiling level 61.8% at 1.1188 (blue dashed line).

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Intraday technical levels and trading recommendations for EUR/USD for November 14, 2018

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On the weekly chart, the EUR/USD pair is demonstrating a high-probability Head and Shoulders reversal pattern where the right shoulder is currently in progress.

Recently, temporary bullish recovery was demonstrated around 1.1300. Hence, another bullish pullback was executed towards 1.1499 (the upper limit of the supply zone) where another descending high was established.

As for the bearish side of the market to remain dominant, the EUR/USD pair should continue trading below the price zone of 1.1300-1.1275. Initial bearish target would located around 1.1100.

Bearish persistence below 1.1275 is mandatory to allow a further decline towards 1.1100.

However, failure to fixate below 1.1275 would enhance the bullish side of the market towards 1.1400 again. Thus, the EUR/USD pair remains trapped within a narrow price range (1.1275-1.1400).

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The dollar strengthened on reducing liquidity

On Thursday, November 15, the Fed will once again redeem the bonds from its balance sheet without subsequent refinancing, which will lead to another sharp reduction in the balance sheet and, as a result, liquidity reduction. Usually, on such days, the dollar is adjusted higher, most often against commodity currencies, a little less pronounced, against the yen as a protective currency.

On such days, the dollar usually trades a little higher than at the opening, so, most likely, on Thursday, the dollar will rise against most currencies.

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It should also be noted that the market reaction in the days of balance reduction is short-term, followed by partial or full recovery, but the reduction in balance has a pronounced long-term effect, which can prevent the dollar from rolling back after short-term strengthening. We are talking about reducing the monetary base, which is reduced due to the Fed policy.

More recently, it was already possible to observe the market reaction to the reduction of the monetary base. On December 28, 2016, the volume of DB decreased to $ 3.407 trillion, which caused a real panic in the financial markets. The reduction in DB was not associated with a reduction in the Fed's balance sheet, which remained stable. They were the result of Fed operations with non-financial companies in reverse repo; for the beginning of the cycle of growth rates.

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The reduction of DB is accompanied by a number of consequences, the most important of which is the increase in the dollar exchange rate due to the reduction in supply. By the end of December 2016, the EUR / USD rate reached 1.035, which at that time was a 13-year low. Many predictions have appeared that predicted the euro to strengthen to parity and even further, to 0.9 from the dollar, but the reality turned out to be more prosaic.

From January 2017, the DB volume began to recover, and immediately the EUR / USD rate went up, that is, the dollar began to weaken. The dependence is quite obvious, and now the situation is similar, although it has other reasons.

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To date, the volume of DB is higher than in December 2016, and the markets so far are reacting rather calmly, although some of the consequences are already obvious. For example, the strengthening of the dollar at forex is still quite moderate, but stock markets suffer, where, due to the reduction in liquidity and the rise in the cost of loans, share repurchase operations, which supported the growth of stocks throughout the soft monetary policy, become too burdensome.

Reduction of DB is a long-term driver, objectively contributing to the strengthening of the dollar. At the same time, a number of other factors are forming that can, in the medium term, stop or reverse the trend towards strengthening the dollar, which include a divided parliament, difficulties with the return of production capacity in the United States as part of Trump's reforms, the upcoming congressional debate on the national debt ceiling, and de-dollarization of the global economy and the threat of recession in the US in 2020

At present, the dollar has not yet exhausted the potential for strengthening and will continue to grow in the short term, but this trend is nearing completion and by the end of the year a reversal is likely.

Today, an inflation report for October will be published, taking into account the growth of average wages, growth is possible above the September level, the forecasts are positive, the dollar may react with growth.

EUR / USD

Macroeconomic publications in the eurozone today are not expected, the focus is on preliminary GDP for Germany for Q3 and the development of the situation around the Italian budget. The euro is trading in a range, there is no own driver, the probability of going beyond the range of 1.1250 - 1.1300 is low, positive news from the US will help to resume the decline by the end of the day.

GBP / USD

Today at 3:00 pm CET, Theresa May meets with her cabinet to discuss a draft agreement reached with the EU. The positive reaction of the cabinet can provoke a rise in the pound, but it is unlikely to be strong since then there will be a vote in the House of Commons, where May has a serious opposition.

The pound may be supported by the publication of the inflation report for October, the forecasts are positive, by the end of the day, the pound may go to the resistance of 1.3175.

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Wave analysis of GBP / USD for November 14. For the pound is nearing the next hour X

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Wave counting analysis:

During the November 13 trading session, the GBP / USD currency pair gained about 120 basis points. Thus, the likelihood that the descending wave b within the 3-wave upward structure is completed increases. If this is true, then the increase in quotations will continue with targets located near the 100.0% of the Fibonacci level. In the coming days, there should be new information on the progress of negotiations on Brexit and on the decision of the British parliament on whether or not Theresa May's conditions determine the legal relationship between London and Brussels after the official release of Britain from the EU. This information can greatly affect the current wave counting.

The objectives for the option with purchases:

1.3124 - 76.4% of Fibonacci

1.3256 - 100.0% of Fibonacci

The objectives for the option with sales:

1.2638 - 261.8% of Fibonacci (senior grid)

General conclusions and trading recommendations:

The currency pair GBP / USD remains in the process of building an upward set of waves. Now, I expect to continue raising the instrument within wave c and, accordingly, I recommend buying a pair with targets near the estimated level of 1.3356, which equals 100.0% of the Fibonacci. To prevent the execution of this option may be a news background regarding Brexit.

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Wave analysis of EUR / USD for November 14. Fundamental uncertainty.

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Wave counting analysis:

In the course of trading on Tuesday, the EUR / USD currency pair gained about 80 basis points. Thus, there are reasons to assume the completion of the construction of the expected wave 5 of the downward trend section. It should be clarified that wave 5 can take the 5th wave view and, accordingly, will greatly complicate its internal wave structure. However, much will now depend on the situation on Brexit and the final result on the negotiations between Britain and the European Union. An unsuccessful attempt to break through the level of 100.0% may lead to a new drop in the instrument quotations.

The objectives for the option with sales:

1.1179 - 161.8% of Fibonacci

1.1103 - 200.0% of Fibonacci

The objectives for the option with purchases:

1.1499 - 0.0% of Fibonacci

General conclusions and trading recommendations:

The currency pair completed the construction of either the first wave 5, or the whole wave 5. An unsuccessful attempt to break through will support the first option, and the pair, in this case, will resume falling. Thus, in the performance of this condition, I will recommend selling the pair again, based on the complication of wave 5 with targets located near the calculated levels of 1.1179 and 1.1103.

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Review of the foreign exchange market on 11/14/2018

Of course, the dollar rebound suggested itself but what a pound did yesterday was very surprising. At the same time, there were no macroeconomic reasons for such a substantial increase in the pound. As expected, the growth rate of average wages with premiums, accelerated from 2.8% to 3.0% and in addition to this, the growth rates of average wages without premiums grew from 3.1% to 3. 2%. However, the unemployment rate rose from 4.0% to 4.1%, which somewhat overshadows optimism due to wage growth. After all, it turns out that the number of people receiving them has decreased, and the overall picture has remained unchanged despite wages have increased. So the pound, of course, had a reason for a small increase, given the overbought dollar, but not the same. The reason again lies in the ill-fated Brexit, who regularly raises a pound to heaven, it plunges into the Hyaena of Fire. This time rumors began to spread that an agreement had been reached on the border between Ireland and Northern Ireland that allegedly today, November 14, a "divorce" agreement would be signed between Great Britain and the European Union. This was the reason for the rapid growth of both the pound and the single European currency.

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True, we should not forget that such rumors have already been circulated repeatedly. Officials often stated something similar in meaning and nothing has changed. Moreover, the signing of the agreement does not mean anything, since the British Parliament, which is very hostile to Theresa May, must ratify it. Thus, the optimism today regarding this issue may come to naught and be replaced by completely different moods. Moreover, someone decided to announce today's date, and if nothing happens right now, then investors will be greatly disappointed.

But even without such exciting political somersaults today, there will be a most serious reason for strengthening the dollar. We are talking about inflation in the United States, as it should grow from 2.3% to 2.5%. This will confirm the words of the representatives of the Federal Reserve System that the recent decline in inflation still does not mean anything, and one should not make hasty conclusions, as long as there is no certainty that its slowdown is sustainable. The rise in inflation in the United States removes any questions regarding future actions by the Federal Reserve System. If the forecasts are confirmed, then there will be no doubt that in December the refinancing rate will increase to 2.5% and another three times next year bringing it to 3.25%. Hence, it is quite justified to wait for the resumption of the growth of the dollar.

In Europe, there is the second estimate of GDP for the third quarter, which should once again confirm the fact of slowing economic growth from 2.2% to 1.7%. True, these data are already taken into account by the market after the publication of the first assessment so that they will not have a significant impact on the state of affairs. Under the influence of rising inflation in the United States, the single European currency will have to fall to 1.1250.

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The pound also has the opportunity to resist, since in the UK inflation is also expected to accelerate from 2.4% to 2.5%. This gives hope that the Bank of England will nevertheless decide to raise the refinancing rate at the end of this year. But do not forget about the Brexit factor, and, not having received confirmation of yesterday's rumors today, investors will drastically change their attitude to the pound. Thus, it has to decline, although at first, it may even grow, we still have all the chances to see the price around 1.2950 by the end of the day.

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GBP / USD. November 14th. The trading system. "Regression Channels". London and Brussels agreed, the matter remains with

4-hour timeframe

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Technical details:

The senior linear regression channel: direction - sideways.

The younger linear regression channel: direction - sideways.

Moving average (20; smoothed) - sideways.

CCI: -6.6280

The currency pair GBP / USD on Wednesday, November 14, entrenched above the moving amid reports that London and Brussels did come to an agreement on Brexit, but only at a technical level. Today, there should be a meeting in the British Parliament, where its members will vote and consider the draft version of this agreement. We believe that this event is extremely important. Since if the deputies do not accept Theresa May's plan, this negates all the progress in the negotiations with the EU. As we all know, there are enough opponents of the May plan, and recently, the number of those who are not willing to leave the European Union is growing. There is enough of them both among the population and in the parliament itself. Thus, the British prime minister will have to make every effort to ensure that this bill is passed. The whole process of finalizing the document may take a few more weeks. In the UK today, as well as in the United States, the report on the consumer price index for October will be released. It is expected that inflation will accelerate to 2.5%, which, again, can be regarded as a positive moment. Thus, there will be two important macroeconomic reports today, and in addition to them, it is recommended to constantly monitor any new information from the British Parliament. In the coming days, a pair of GBP / USD can be quite "stormy".

Nearest support levels:

S1 - 1,2939

S2 - 1,2878

S3 - 1.2817

Nearest resistance levels:

R1 - 1.3000

R2 - 1.3062

R3 - 1.3123

Trading recommendations:

The currency pair GBP / USD has overcome the moving, so from a technical point of view, long positions with a target of 1.3062 are now relevant. The fundamental factor at any time can change the mood of traders, so you need to be ready for a sharp turn down.

Sell orders will again become relevant not earlier than the bears are re-consolidated below the moving average. In this case, the trend in the instrument will again become downward, and the first goal will be the level of 1.2878.

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

Explanations for illustrations:

The senior linear regression channel is the blue lines of the unidirectional movement.

The junior linear channel is the purple lines of the unidirectional movement.

CCI is the blue line in the indicator regression window.

The moving average (20; smoothed) is the blue line on the price chart.

Murray levels - multi-colored horizontal stripes.

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

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

Analysis of the divergence of EUR / USD for November 14. Eurocurrency rested now at the level of 1.13 below

4h

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The EUR / USD currency pair reversed in favor of the euro currency after the formation of the bullish divergence in the CCI indicator, and the return to the correction level of 100.0% - 1.1303. Rebounding quotes from the Fibo level of 100.0% will allow traders to count on a reversal in favor of the American currency and a resumption of decline in the direction of the correctional level of 127.2% - 1.1162. Fixing the pair above the Fibo level of 100.0% will increase the chances of continued growth in the direction of the next correction level of 76.4% - 1.1423.

The Fibo grid is built on extremes from August 15, 2018, and September 24, 2018.

Daily

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On the 24-hour chart, the EUR / USD currency pair closed below the correction level of 127.2% - 1.1285. Thus, it is expected that the quotes will continue to fall in the direction of the correctional level of 161.8% - 1.0941. Over the current chart, no indicator has maturing divergences. Fixing the quotes above the correction level of 127.2% will work in favor of the EU currency and some growth in the direction of the Fibo level of 100.0% - 1.1553.

The Fib net is built on extremums from November 7, 2017, and February 16, 2018.

Recommendations to traders:

You can make purchases of the EUR / USD currency pair with a target of 1.1423 and a Stop Loss order below the Fibo level of 100.0% if the pair closes above the level of 1.1303.

Selling of the currency pair EUR / USD will be possible with the goal of 1.1162 with a Stop Loss order above the Fibo level of 100.0% if the pair rebounds the correction level of 1.1303.

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

Analysis of GBP / USD Divergences for November 14th. Pound sterling is ready for a new fall

4h

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On the 4-hour chart, the GBP / USD currency pair rebounded from the correction level of 23.6% - 1.2837 and rising to the Fibo level of 50.0% - 1.2997. The end of November 14 quotes from the correction level of 50.0% will allow traders to expect a reversal in favor of the US dollar and a resumption of falling towards the Fibo levels of 38.2% - 1.2925 and 50.0%. There are no ripening divergences today. Fixing the rate above the level of 50.0% will increase the pair's chances for a further growth in the direction of the next correction level of 61.8% - 1.3066.

The Fibo grid was built on extremes from September 20, 2018, and October 30, 2018.

1h

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On the hourly chart, the currency pair reversed in favor of the American currency, followed by a slight increase, and after the formation of a bearish divergence at the MACD indicator, a new reversal, and closing under the correction level of 38.2% - 1.2992. As a result, the fall in quotations can be continued in the direction of the correctional level of 50.0% - 1.2935. New emerging divergences are not observed. Fixing quotations above the Fibo level of 38.2% will work in favor of the British currency and the resumption of growth in the direction of the correction level of 23.6% - 1.3061.

The Fib net is built on extremes from October 30, 2018, and November 7, 2018.

Recommendations to traders:

New purchases of the GBP / USD currency pair can be made with a target of 1.3061 and a Stop Loss order under the correction level of 38.2% if the pair closes above 1.2992 (hourly chart).

The currency pair GBP / USD can be sold now with a target of 1.2935 and a Stop Loss order above the level of 61.8%, as the pair completed closing below the correction level of 1.2992 (hourly chart).

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

The dollar may resume growth after the "rest"

On Tuesday, the US dollar slightly surrendered its positions amid renewed negotiations between Beijing and Washington on mutual trade, as well as rising hopes that an acceptable agreement would be reached between Great Britain and the EU on Brexit.

The States and China resumed negotiations on the eve of the G-20 summit to be held in Buenos Aires, Brazil at the end of this month. So far, the negotiations that have begun have no effect on the stock markets in America and China. The states closed on a minor note on Tuesday, and the Chinese market today does not demonstrate an unambiguous dynamic. Everything points to the fact that investors are no longer going to simply react to the news itself, which has already been actually won back. They want, it seems, to see the result or some significant shift in their positions on trade, and first of all, the American one.

The news about some breakthrough in the negotiation process on Brexit, splashed onto the market by Bloomberg, supported the course of the British currency, and with the European. Recently, the markets have been very active in responding to this kind of stuffing, which, however, as events have shown, turned out to be empty hopes. It's hard to say if these will be truly real, but if it turns out that the British managed to beg for more or less acceptable conditions for leaving the European Union, then this will be a strong supporting factor for the sterling rate, and, of course, this positive will not avoid Eurocurrency.

Strange fall in crude oil prices, oddly enough, did not have a noticeably strong impact on commodity currencies. In our opinion, this can first of all be explained by the local weakening of the dollar in the Forex market, which has smoothed the negative effect.

Today, the market will focus on the publication of GDP data in Germany and the Eurozone, as well as consumer inflation in Britain and the United States. It can be assumed that if the GDP values in Germany and in the euro zone show a slowdown, this may have a negative impact on the euro rate, but the acceleration of inflation in the UK and the United States may support the sterling and US dollar rates.

Forecast of the day:

The currency pair EUR / USD is trading below the level of 1.1300. It may again be under pressure if the GDP data in Germany and the Eurozone shows a decline in growth. On this wave, the pair, most likely, failing to consolidate above 1.1300, again resumed its decline to 1.1150.

The currency pair GBP / USD is trading above the level of 1.2975. If the data on consumer inflation in Britain disappoint, and in the United States will be strong, this will cause the pair to turn around and fall to 1.2840.

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Fractal analysis of major currency pairs for November 14

Dear colleagues.

For the currency pair Euro / Dollar, the price forms a pronounced potential for an upward movement of 12 November. For the currency pair Pound / Dollar, the price forms the initial conditions for the top of November 12 and the level of 1.2878 is the key support. For the currency pair Dollar / Franc, the price is in a deep correction from the rising structure on November 7. For the currency pair Dollar / Yen, we are following the development of the upward trend from October 26 and we expect the continuation of the upward movement after the breakdown of 114.21. For the currency pair Euro / Yen, the price forms the potential for the top of November 13 and the range of 129.00 - 129.17 is the key resistance for the top. For the currency pair Pound / Yen, we are watching the formation of the potential for the top on November 13 and the level of 146.58 is the key support.

Forecast for November 14:

Analytical review of H1-scale currency pairs:

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For the Euro / Dollar currency pair, the key levels on the H1 scale are: 1.1403, 1.1375, 1.1353, 1.1322, 1.1293, 1.1273 and 1.1243. Here, the price forms the potential for the top of November 12. The upward movement is expected after the breakdown of 1.1322. In this case, the target is 1.1353 and in the range of 1.1353 - 1.1375 is the price consolidation. The potential value for the top is considered the level of 1.1403, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.1293 - 1.1273 and the breakdown of the last value will lead to an in-depth correction. Here, the goal is 1.1243 and this level is the key support for the upward structure. Its breakdown will have to continue the downward trend. In this case, the first goal is 1.1212.

The main trend is the formation of potential for the top of November 12.

Trading recommendations:

Buy 1.1322 Take profit: 1.1350

Buy 1.1355 Take profit: 1.1375

Sell: 1.1293 Take profit: 1.1275

Sell: 1.1270 Take profit: 1.1248

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For the Pound / Dollar currency pair, the key levels on the H1 scale are: 1.3273, 1.3215, 1.3130, 1.3061, 1.2966, 1.2928 and 1.2878. Here, the price forms the potential for the top of November 12. The upward movement is expected after the breakdown of 1.3061. In this case, the target is 1.3130 and the price consolidation is near this level. The breakdown of the level of 1.3130 should be accompanied by a pronounced upward movement. Here, the target is 0.3215. The potential value for the top is considered the level of 1.3273, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.2966 - 1.2928 and the breakdown of the last value will lead to a prolonged correction. Here, the goal is 1.2878 and this level is the key support for the upward structure. The breakdown will have to follow the downward movement. In this case, the first goal is 1.2824.

The main trend is the formation of the initial conditions for the top of November 12.

Trading recommendations:

Buy: 1.3061 Take profit: 1.3126

Buy: 1.3133 Take profit: 1.3215

Sell: 1.2966 Take profit: 1.2930

Sell: 1.2926 Take profit: 1.2880

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For the Dollar / Franc currency pair, the key levels on the H1 scale are: 1.0186, 1.0150, 1.0134, 1.0111, 1.0065 and 1.0043. Here, we are following the rising structure of November 7. At the moment, the price is in a deep correction. The upward movement is expected after the breakdown of the level of 1.0111. In this case, the target is 1.0134 and in the range of 1.0134 - 1.0150 is the price consolidation. The potential value for the top is considered the level of 1.0186, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.0065 - 1.0043, hence a high probability of a reversal upwards. The breakdown of the level of 1.0043 will lead to the cancellation of the development of the upward trend and in this case, we expect the initial conditions for the downward cycle.

The main trend is the upward cycle of November 7, a deep correction.

Trading recommendations:

Buy: 1.0111 Take profit: 1.0134

Buy: 1.0152 Take profit: 1.0184

Sell: Take profit:

Sell: 1.0063 Take profit: 1.0045

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For the Dollar / Yen currency pair, the key levels on the scale of H1 are: 115.01, 114.48, 114.21, 113.77, 113.46 and 112.99. Here, we are following the development of the upward cycle from October 26. At the moment, the price is in the correction area. The short-term upward movement is expected in the range of 114.21 - 114.48 and the breakdown of the latter value should be accompanied by a pronounced upward movement. Here, the potential target is 115.01, after reaching which we expect a downward rollback.

The short-term downward movement is possible in the range of 113.77 - 113.46 and the breakdown of the last value will lead to a prolonged correction. Here, the goal is 112.99, up to this level, we expect the initial conditions for the downward cycle.

The main trend is the ascending cycle of October 26, the correction zone.

Trading recommendations:

Buy: 114.21 Take profit: 114.46

Buy: 114.50 Take profit: 115.00

Sell: 113.75 Take profit: 113.50

Sell: 113.44 Take profit: 113.15

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For the Canadian dollar / Dollar currency pair, the key levels on the H1 scale are: 1.3363, 1.3314, 1.3279, 1.3215, 1.3190 and 1.3151. At the moment, we expect to move to the level of 1.3279 and the breakdown of which will lead to a short-term uptrend to the level of 1.3314. In this range is the price consolidation. The potential value for the top is considered the level of 1.3363, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.3215 - 1.3190, hence a high probability of a reversal upwards. The breakdown of the level of 1.3190 will lead to a prolonged correction. In this case, the target is 1.3151.

The main trend is the local rising structure of November 7.

Trading recommendations:

Buy: 1.3280 Take profit: 1.3312

Buy: 1.3316 Take profit: 1.3360

Sell: 1.3215 Take profit: 1.3194

Sell: 1.3188 Take profit: 1.3155

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For the currency pair Australian dollar / Dollar, the key levels on the H1 scale are: 0.7292, 0.7273, 0.7258, 0.7238, 0.7204, 0.7191, 0.7175 and 0.7157. Here, we are following the development of the downward structure from November 8. At the moment, the price forms the potential for the top from November 13. A continuation of the upward trend development is expected after the breakdown of 0.7238. In this case, the target is 0.7258 and in the range of 0.7258 - 0.7273 is the short-term upward movement, as well as consolidation. The potential value for the top is considered to be the level of 0.7292, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 0.7204 - 0.7191 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.7175 and this level is the key resistance for continuing downward movement.

The main trend is the downward cycle of November 8, the formation of potential for the top in the correction.

Trading recommendations:

Buy: 0.7240 Take profit: 0.7258

Buy: 0.7259 Take profit: 0.7272

Sell: 0.7204 Take profit: 0.7192

Sell: 0.7190 Take profit: 0.7177

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For the Euro / Yen currency pair, the key levels on the H1 scale are: 129.63, 129.17, 129.00, 128.23, 127.98, 127.22, 126.95 and 126.41. Here, we are following the downward cycle of November 8. At the moment, the price is in deep correction and forms the potential for the top. The passage of the range of 129.00 - 129.17 will lead to the cancellation of the downward structure. In this case, the potential target is 129.63.

The short-term downward movement is possible in the range of 128.23 - 127.98. The breakdown of the latter value should be accompanied by a pronounced movement to the level of 127.22 and in the range of 127.22 - 126.95 is the short-term downward movement, as well as consolidation. The potential value for the bottom is considered the level of 126.41.

The main trend is the downward cycle of November 8, the stage of deep correction.

Trading recommendations:

Buy: 129.20 Take profit: 129.60

Buy: Take profit:

Sell: 128.23 Take profit: 128.00

Sell: 127.93 Take profit: 127.30

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For the Pound / Yen currency pair, the key levels on the H1 scale are: 151.16, 150.50, 149.52, 148.74, 147.55, 146.99, 146.58 and 145.91. Here, the price forms the potential for the top of November 13. The continuation of the movement upward is expected after the breakdown of 148.74. In this case, the goal is 149.52, up to this level, we expect the formation of a pronounced initial structure. The breakdown of the level of 149.52 should be accompanied by a pronounced upward movement. Here, the target is 150.50. The potential value for the top is considered the level of 151.16.

We expect a departure in the correction after the breakdown of 147.55. In this case, the target is 146.99 and the range of 146.99 - 146.58 is the key support for the top. Its price will have to develop a downward structure. In this case, the target is 145.91.

The main trend is the formation of potential for the top of November 13.

Trading recommendations:

Buy: 148.76 Take profit: 149.50

Buy: 149.56 Take profit: 150.50

Sell: 147.55 Take profit: 147.00

Sell: 146.58 Take profit: 145.95

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

Technical analysis of NZD/USD for November 14, 2018

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Overview:

Pivot: 0.6779.

The NZD/USD pair continues to move upwards from the level of 0.6696. The pair rose from the level of 0.6696 to a top around 0.6779. Today, the first resistance level is seen at 0.6823 followed by 0.6867, while the daily support 1 is seen at 0.6696 (last bearish wave). According to the previous events, the NZD/USD pair is still moving between the levels of 0.6779 and 0.6867; so we expect a range of 88 pips. Furthermore, if the trend is able to break out through the first resistance level at 0.6779, we should see the pair climbing towards the resistance of 0.6823 to test it. Therefore, buy above the level of 0.6779 with the first target at 0.6823 in order to test the daily resistance 1 and further to 0.6867. Also, it might be noted that the level of 0.6867 is a good place to take profit because it will form a double top. On the other hand, in case a reversal takes place and the NZD/USD pair breaks through the support level of 0.6696, a further decline to 0.9789 can occur which would indicate a bearish market on the H4 chart.

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Fundamental Analysis of USD/CAD for November 14, 2018

USD/CAD has been quite impulsive with the bullish gains recently. The price is expected to climb bit higher before a bearish counter-move off the 1.3300-50 area with a daily close. USD gained good momentum over CAD because of strong employment reports published recently. Thus, CAD is still struggling.

US employment reports were quite positive but as the US Budget report for October showed deficit of $100.5 billion which had a negative impact on the US currency. Though USD is currently going through an indecision phase, there are still certain reasons for USD to regain its momentum in the future which include a rate hike by the US central bank, equity market pressure, and protectionist trade policy. Moreover, better economic data will also be a fire-sure tool for the US currency to regain its momentum in the coming days. Fed Chair Powell's speech this week could provide clues for Fed's intentions on monetary policy. Thus, Powell's public remarks may detemine definite trend pressure in the short term.

On the CAD side, lasy week Bank of Canada's Governor spoke about headwinds in Canada's economy and how to overcome troubles. The optimistic approach gave certain clues for long-term development which had no immediate impact on CAD's growth versus USD. This week on Friday, Canada's Manufacturing Sales report is going to be published which is expected to increase to 0.3% from the previous negative value of -0.4% and Foreign Security Purchase is also expected have an increase from the previous figure of 2.82B.

Meanwhile, CAD is quite firm with the upcoming economic reports. On the other hand, hawkish remarks from Fed officials about further rate hikes could trigger volatility in the pair.

Now let us look at the technical view. The price has formed Bearish Divergence while pushing higher towards 1.3300-50 area from where the price is expected to reject with the bearish counter-move, leading to certain bearish pressure. As the price remains below 1.3350 area, there are certain chances of a bearish intervention in the bullish trend which might lead to certain counter-move with a target towards 1.3050 support area.

SUPPORT: 1.2950, 1.3050

RESISTANCE: 1.3300-50

BIAS: BULLISH

MOMENTUM: IMPULSIVE and NON-VOLATILE

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EUR/USD analysis for November 14, 2018

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Recently, the EUR/USD pair has been trading sideways at the price of 1.1269. Anyway, according to the H1 time – frame, I found a breakout of the intraday bearish flag in the background, which is a sign that sellers are in control. The short – term trend is bearish and my advice is to go with the trend. Watch for selling opportunities. The downward target is set at the price of 1.1215.

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Analysis of Gold for November 14, 2018

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Recently, Gold has been trading downwards. The price tested the level of $1,195.90. According to the H1 time – frame, I found end of the upward correction (irregular type 2), which is a sign that buying looks risky. I have also found the breakout of the intraday upward trendline, which is another sign that sellers are in control. My advice is to watch for selling opportunities. The downward target is set at the price of $1,187.20.

Trading recommendations for today: watch for potential selling opportunities.

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

Technical analysis of USD/CAD for November 14, 2018

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Overview:

The USD/CAD pair continues to rise from the levels of 1.3219 and 1.3184 in the long term. It should be noted that the support is established at the level of 1.3184 which represents the 61.8% Fibonacci retracement level on the H1 chart. The price is likely to form a double bottom in the same time frame. Accordingly, the USD/CAD pair is showing signs of strength following a breakout of the highest level of 1.3219. So, buy above the level of 1.3219 with the first target at 1.3262 in order to test the daily resistance 1 and further to 1.3300. Also, it might be noted that the level of 1.3262 is a good place to take profit because it will form a double top. On the other hand, in case a reversal takes place and the USD/CAD pair breaks through the support level of 1.3184, a further decline to 1.3134 can occur which would indicate a bearish market.

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Bitcoin analysis for November 14, 2018

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Trading recommendations:

According to the H4 time - frame, I found that price did a successful breakout of the upward trendline in the background, which is a sign that sellers are in control. I have also found a buying climax in the background, which is another big sign of weakness. My advice is to watch for selling opportunities. The downward targets are set at the price of $6.163 and at the price of $6.031.

Support/Resistance

$6.270 – Intraday resistance

$6.191– Intraday support

$6.163 – Objective target 1

$6.031 – Objective target 2

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

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GBP / USD Forecast for November 14, 2018

GBP / USD

Politics in the UK and the EU have managed to move forward in the newly stalled Brexit talks. The main provisions of the treaty, including the Irish border, were agreed yesterday. There will be no hard border. Today, Theresa May held a cabinet meeting, which will enable us to learn about the future plans of European and British politicians. The date of the EU Special Summit will perhaps be clarified. At the moment, sterling rose by 200 points - closing the day that occurred 119 points.

It may have been a "soft" Brexit or a good deal. However, does this mean that amidst a global strengthening of the dollar and a decline in the euro, there will be a rise in the pound? Great Britain successfully left EU. Nevertheless, this does not mean that the country will inexplicably gain economic advantages over the rest of the world regions. Rather, on the contrary, it will lose a little. The negative trade balance of Great Britain, as it has been since the end of 1990s still remains. The industrial production traditionally lags behind European; and there are no prerequisites for changing the balance. Form these positions, we can expect a strong collapse of the British currency after its preliminary speculative psychological growth. However, a significant increase in the next positive news regarding Brexit may not take place. The closer date for the UK legal exit from the EU may take place on March 2019 or any closer date.

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At the moment, the price has a positive vector on both charts. During the day, the price moves over the indicator balance line (red) and the Marlin oscillator signals a rising trend, which yesterday the price has been able to keep a stronger growth. The Marlin oscillator also indicates a growing trend. However, whether or not that another pound would increase its resistance to the linear trend line of the price channel on the daily chart is a rhetorical question. It is possible that the balance line resistance on H4 will not be able to overcome (1.3054), then the Marlin oscillator signal lines on both scales will be turned down from the border values, which serves a signal to turn. In this case, we will be waiting for the price to support the trend line of the price channel in the region of 1.2800. But, if the price fixing above this line takes place, we expect growth to the designated upper target.

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Fundamental Analysis of USD/JPY for November 14, 2018

USD/JPY is currently quite indecisive and volatile after having an impulsive run above 113.00 area recently. USD has been holding the upper hand over JPY for a few days, but it is currently struggling to maintain momentum over JPY due to the US budget report which revealed deficit.

In light of recent reports, US Employment reports were quite positive but the US Budget report for October showed deficit of $100.5 billion which had a negative impact on the US currency, leading to certain weakness. Though USD is currently making a pullback, there are still certain reasons for USD to regain its momentum in the future which include the strong likelihood of a rate hike, Equity Market Pressure, and portectionist trade policy. Moreover, upbeat economic data will also be an inevitable tool for the US currency to regain its momentum in the coming days. This week, Fed Chair Powell's speech could provide some clues as of the rate hike decisions and further monetary policy. His speech might have a bigger impact for a definite trend pressure in the short term.

On the JPY side, due to soft economic reports JPY could not take advantage over USD which led to certain indecision in the market. Recently Japan's PPI report was published with a decrease to 2.9% from the previous value of 3.0% which did slightly better than the expectation of decrease to 2.8%. Besides, Prelim Machine Tool Orders decreased to -1.1% from the previous value of 2.9%. Japan has been quite rapid with the recent Financial Boom, especially in the banking sector. However, BOJ warns investors to excercise cautioun. Downbeat economic data recently somehow confirmed that investors are revising their portfolios, pulling out the money from JPY. Today Japan's Prelim GDP report was published with a decrease to -0.3% as expected from the previous value of 0.7% and Prelim GDP Price Index also decreased to -0.3% from the previous value of 0.0% which was expected to be at -0.1%. Tertiary Industry Activity also decreased to -1.1% from the previous value of 0.4% which was expected to be at -0.4% and Revised Industrial Production was slightly better increasing to -0.4% which was expected to be unchanged at -1.1%.

Meanwhile, JPY has been hurt by the economic reports. The pair is likely to make corrections and trade with higher volatility. The market-moving event this week is Fed Chair's speech. Thus, USD may gain impulsive momentum. Ahead of the speech, certain pullbacks may be observed as gains on JPY side before the price moves higher in the future.

Now let us look at the technical view. The price is currently quite corrective and volatile without definite trend momentum in place for last two days after breaking above 113.00 area with a daily close. The price is currently expected to push lower towards 113.00 area for a retest before pushing higher towards 114.50 in the coming days. As the price consistently rejected bulls for two days, the bears are showing their presence in the market which might lead to short-term bearish gains before the price continues to push higher with the trend. As the price remains above 112.00 area, the bullish bias is expected to continue.

SUPPORT: 110.50, 112.00, 113.00

RESISTANCE: 114.50, 115.00

BIAS: BULLISH

MOMENTUM: VOLATILE

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

Forecast for USD / JPY for November 14, 2018

USD/JPY

The nature of trading for the yen yesterday was very similar to trading on Tuesday. After an amplitude trade of 30 points, the day closed near its opening. The trend line of Kruzenshtern on the four-hour chart is different. It pushed the price up twice as soon as the price touched it. The line of balance on the same scale was shown exactly the same way. The Marlin oscillator signal line is looking for balance in the neutral band, but the trend is rising and Marlin may accelerate in growth. The goal is the same which does for the resistance line of the price channel in the area of 114.93. ATP stock indices are trading mixed this morning, but the Japanese Nikkei225 added 0.25%. Tomorrow, strong retail sales figures in the October estimate (0.6%) may emerge in the US, which will strengthen the growth of stock markets and the yen along with them.

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