Forecast for AUD/USD on August 30, 2019

AUD/USD

For four days of decline, the Australian dollar has come a short way from the Fibonacci level of 23.6% on the daily chart to support the embedded line of the red price channel on a monthly scale (0.6710). The market's first attempt to overcome this support was on August 7, but it was on an exhausted two-week movement, the second attempt was on August 26, now the third attempt, which is 80% statistically successful. The Marlin oscillator on the daily low is falling slightly, there is a reserve for medium-term decline. The first goal is to support the blue price channel in the region of 0.6650.

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On a four-hour chart, the price falls below the lines of balance (red indicator) and MACD (blue indicator), the Marlin decreases after a reversal from the boundary with the growth territory.

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GBP / USD. Hard Brexit, Johnson's resignation or a big bluff? The pound is under pressure again

The pound reacted rather restrainedly to the news that the Queen of England supported the request of Boris Johnson to temporarily suspend the work of the House of Commons. The reaction of ordinary British and many deputies is too violent - and this fact allows traders to hope that the prime minister's political maneuvers will force politicians to rally. Theoretically, parliamentarians can manage to realize their intentions. To do this, they have a few days, during which they must make crucial decisions for the country. However, Johnson also has his Trump cards, which he can very skillfully use. Thus, the "great confrontation" between the head of government and the House of Commons will begin in just a few days, and the outcome of this battle is quite difficult to predict.

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The so-called "queen's move" is necessary for Boris Johnson only for one thing: to deprive parliamentary deputies of temporary space for making appropriate decisions. The parliamentarians will hold their first session this season on September 3, but already on September 9, they will be forced to leave for the "extra holidays" approved by the queen. Forced leave will last until October 14 - the throne speech of Elizabeth II is scheduled for this date. On the one hand, for the remaining working days, deputies will be able to declare a vote of no confidence in the prime minister and form a new government - "national unity". But for this, they need the support of the Conservative Party, which so far has been hesitating on this issue. If the House of Commons votes no confidence of the government, but no new government is formed, the prime minister will dissolve the parliament and announce early elections.

However, the thing is that the prime minister sets the date for new elections, and judging by the statements of his team's representatives, he will appoint them for November, that is, after Britain's "automatic" exit from the EU. It is worth noting here that the law provides for a minimum of 25 days only for campaigning. At the same time, Johnson may refuse to leave his post until October 31, even if a vote of no confidence is passed to him. Formally, he has the opportunity to take such a step, although at the same time, he will ignore the constitutional customs of Britain. But given his last steps, the option of a political demarche cannot be ruled out, especially since there have already been similar precedents in British history (although almost 200 years ago, but still).

In other words, if the opposition political forces represented in the House of Commons do not unite and attract conservatives, Johnson may well outplay the parliament, thereby realizing the "tough" Brexit. According to the head of the Labor Party, Jeremy Corbyn, his party is ready to initiate the issue of passing a vote of no confidence to the prime minister "at the most optimal time for this." Subject to the royal decree, the deputies do not have much time left either next week or in the second half of October, on the eve of the "X-hour". It is worth recalling that during the signal vote that took place this spring, many conservatives did not support the "hard" Brexit option. In fact, Johnson can count on firm support only 100-150 of them out of 650 deputies.

But today the question will be a little different: announcing a vote of no confidence in the prime minister, the Tories, on the one hand, will take a step towards preventing a "hard" Brexit, but on the other hand, they will actually vote for the dissolution of the parliament. During Johnson's premiership, the Conservative Party rating grew by 10 points, that is, up to 33% - the Tories returned to first place in the polls. But the opposition's votes are almost evenly divided between Labor (21%) and Liberal Democrats (19%). This alignment suggests that the conservatives are, in principle, ready to go to early elections, hoping to get an independent majority in parliament, in the wake of the support of Brexit supporters. At the same time, such prospects reduce the likelihood that the Tories will support the idea of creating a government of "national unity", and even more so, led by the eternal opponent of the conservatives - Jeremy Corbyn. The intrigue in this matter remains, and will be resolved (most likely) in early September.

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Among experts, another assumption is being discussed. It consists in the fact that all of Johnson's recent actions are a massive and well-planned bluff. The main purpose of which is to convince Brussels that Britain really intends to leave the European Union without a deal. The proponents of this assumption say that Johnson leads the country "in full sails" to the hard Brexit only so that the European Union "flinches at the last moment", that is, literally on the last day before the "X-hour". Allegedly, in this case, Brussels may succumb to blackmail and show political flexibility, at least in the matter of back-stop. Of course, given Johnson's eccentricity, such an option cannot be ruled out - but at the moment, such a scenario seems unlikely.

Thus, the autumn political season will start next week in Britain, which will be one of the "hottest" since the historic referendum in 2016. A contradictory fundamental background reduces the predictability of the GBP/USD pair - the fate of the pound will actually be in the hands of parliamentarians. If they can make Johnson to resign and form a government of national unity despite their political ambitions, the British currency, paired with the dollar, will increase by several figures. Otherwise, the GBP/USD pair will update the annual minimum by testing the 19th figure.

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Overview of EUR/USD on August 30th. Forecast for the system "Regression Channels". European inflation will continue to slow

4-hour timeframe

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Technical data:

The upper channel of linear regression: direction-down.

The lower channel of linear regression: direction-down.

The moving average (20; smoothed) – down.

CCI: -150.3038

The last trading day of the week and month, the EUR/USD currency pair starts in the usual way – with a systematic decline. Last night, the lows of last week were updated, and no more than 20 points remain to pass to two-year lows. Thus, we expect the pair to decline further today, but volatility is likely to remain at a low level, as there are few important macroeconomic reports and reports from the eurozone and the States. Yesterday, inflation for Germany in August was published (preliminary value) and we assumed that inflation in the EU would also be worse than expected. The forecast value is 1.0% y/y in August. Thus, any value below 1.0% will confirm our concerns. If European inflation slows even more (than it has already slowed in the last 3-4 months), then traders are unlikely to have questions in which direction to trade the euro/dollar pair on Friday, August 30. The chances that the euro will continue to depreciate against the US dollar will be even greater.

Further, the probability that the ECB will "rush into battle" at the next meeting in September will also increase, as annual inflation below 1% is not just a "negative moment", it is a "catastrophe". But the European Union has not yet engaged in a trade war with America. More precisely, the United States is busy with other things (trade war with China) and is not in a hurry to escalate a new trade conflict. Any weakening of monetary policy by the European Central Bank will be regarded by traders as an additional "bearish" factor. Bears, in principle, already dominate the market for the euro/dollar pair, they do not even need additional fundamental support, but when it is available, it becomes even easier to sell euro.

In the afternoon, data on personal income and spending of the American population for July will be published, as well as the consumer confidence index from the Michigan Institute. And according to American statistics, no downturns and reductions are expected. Thus, based on forecasts, it can be assumed that August 30 will also remain for the US currency.

The forex market finds no good and serious fundamental reasons to stop buying the US dollar. In general, the number of factors that speak in favor of euro sales may become even greater. Technical indicators are directed down. Bulls remain extremely weak.

Nearest support levels:

S1 – 1.1047

S2 – 1.0986

S3 – 1.0925

Nearest resistance levels:

R1 – 1.1108

R2 – 1.1169

R3 – 1.1230

Trading recommendations:

The euro/dollar pair continues its downward trend. Thus, it is now recommended to trade downwards with a target of 1.0986. Buying the euro is not recommended now, as both the technical and fundamental picture do not give grounds for expectations of strengthening the euro. A turn of Heiken Ashi upward will indicate a round of upward correction.

In addition to the technical picture, fundamental data and the time of their release should also be considered.

Explanation of the illustrations:

The upper linear regression channel – the blue line of the unidirectional movement.

The lower linear regression channel – the purple line of the unidirectional movement.

CCI – the blue line in the indicator window.

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

Murray levels – multi-colored horizontal stripes.

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

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Trading plan for EURUSD for August 30, 2019

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Technical outlook:

The EUR/USD pair continues to drift lower as expected with 1.1043 as an interim low. We have shown the 4H chart view with the recent boundary that is being worked upon, with Fibonacci resistances placed across. As seen here, the resistance starts from 1.1088 and spreads through 1.1140 levels. Immediate price resistance is now seen at 1.1165 and fresh lows can be expected until prices stay below that. Also note that the resistance trend line is being meticulously followed with the latest bearish bounce at 1.1165 levels. Any push beyond the resistance trend line would also be encouraging to bulls. Most traders might have booked profits on short positions taken earlier and if not, then it is advisable to take profit from short positions and remain flat. The next potential short entry could be seen towards 1.1120 levels which is converging with resistance trend line and Fibonacci 0.618 as well. The euro is expected to print lows below 1.1020 in the near term before reversing higher again.

Trading plan:

Take profit from short positions taken earlier and remain flat. Look to sell around 1.1120 going forward.

Good luck!

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GBP/USD: plan for the European session on August 30. Pound buyers need to return to a resistance of 1.2200, otherwise the

To open long positions on GBP/USD you need:

Tensions over the Brexit situation and the suspension of the UK Parliament continue to put pressure on the pound, however, the bears are in no hurry to return to the market, which leaves buyers with a chance to continue growth. To do this, you need to return to the level of 1.2200 today and gain a foothold there, which will lead to a larger upward correction to the area of important resistance at 1.2250, where I recommend taking profits. If the bears continue to pull down the pound, I recommend to open long positions immediately on the rebound from the major support of 1.2145, or from a low of 1.2107. However, an update of 1.2107 will indicate a complete turnaround of the upward trend, so strong growth from this range can hardly be expected.

To open short positions on GBP/USD you need:

The main task of the pound sellers is to maintain the level of 1.2200, and the formation of a false breakdown on it in the first half of the day will be a direct signal to open short positions in the hope of updating weekly lows in the areas of 1.2145 and 1.2107, where I recommend taking profits. Today's data on the UK economy is unlikely to significantly affect the pair, so everything will depend on news related to Brexit. In the scenario of a return and consolidation above the resistance of 1.2200, it is best to consider new short positions for a rebound from a larger high of 1.2250, which is a serious problem for pound buyers.

Signals of indicators:

Moving averages

Trading is below 30 and 50 moving averages, which indicates that the pound might continue to fall.

Bollinger bands

In case the pound grows, the upside of the indicator will be limited by the upper boundary of the indicator in the region of 1.2215. A break of the lower boundary at 1.2165 will increase pressure on the British pound.

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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: plan for the European session on August 30. Do not expect the euro to sharply fall below the level of 1.1028 on

To open long positions on EURUSD you need:

Buyers continue to stand aside and monitor how the euro is declining amid weak reports on the German economy and the eurozone as a whole. Today in the morning, the focus will be on data on inflation in the eurozone and the unemployment rate. A reduction in consumer price growth will hit the euro, but the decline will not be protracted, as major players will begin to take profits at the end of the month. Therefore, I am waiting for the support update of 1.1028 and when forming a false breakdown there, I recommend opening long positions. Otherwise, you can buy for a rebound from a low of 1.0990. The main task of the bulls will be to return to the resistance of 1.1055, consolidating on which will lead to the formation of a rising wave with the update of the resistance of 1.1087, where I recommend taking profits.

To open short positions on EURUSD you need:

Bears got to monthly lows yesterday and updated them. While trading is below the resistance of 1.1055, the market remains on the side of euro sellers. However, all emphasis today will be placed on reports on the eurozone. The next formation of a false breakdown in the resistance area of 1.1055 will be a signal to sell the euro in order to update the low of 1.1028, where I recommend taking profits. A further target of sellers will be support at 1.0990. With a growth scenario above the level of 1.1055 in the morning, which can happen after the good data on inflation in the eurozone is released, it is best to count on short positions in EUR/USD on a rebound from a resistance of 1.1087, or after updating a larger high of 1.1115.

Signals of indicators:

Moving averages

Trade below 30 and 50 moving averages, indicating a return of the dominance of euro sellers in the market.

Bollinger bands

If the euro rises in the morning, the upward correction may be stopped by the upper boundary of the indicator in the region of 1.1075.

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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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Forecast for EUR/USD on August 30, 2019

EUR/USD

US economic indicators came out mixed yesterday, but optimism in related markets kept the dollar stronger - the euro fell by 20 points, breaking not only the Fibonacci level of 123.6% on a daily basis, but a low of August 23. GDP for the 2nd quarter was revised down from 2.1% to 2.0%, the trade balance for July improved from -74.2 billion to -72.3 billion.

Today, macroeconomic pressure on the euro may rise. Retail sales in Germany in July are expected to decrease by 1.3%, the general CPI in the eurozone in August may remain 1.0% y/y, while in the US personal incomes of consumers in July are expected to increase by 0.3%, expenses by 0.5% and the index of business activity in the manufacturing sector of the Chicago region for the current month is projected to grow to 48.1 from 44.4.

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We are waiting for the euro to decline to the Fibonacci level of 138.2%, to the area of 1.0980 - on the daily chart, nothing prevents the decrease.

On the four-hour chart, after twofold reflecting the price from the MACD line, the price accelerated down, the Marlin oscillator in a stable declining position.

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Technical analysis: Important Intraday Levels For EUR/USD, August 30, 2019

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When the European market opens, some economic data will be released such as Unemployment Rate, Italian Prelim CPI m/m, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Monthly Unemployment Rate, French Prelim CPI m/m, French Gov Budget Balance, and German Retail Sales m/m. The US will publish the economic data such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Chicago PMI, Personal Income m/m, Core PCE Price Index m/m, and Personal Spending m/m, so amid the reports, the EUR/USD pair will move with low to medium volatility during this day. TODAY'S TECHNICAL LEVELS: Breakout BUY Level: 1.1114. Strong Resistance: 1.1108. Original Resistance: 1.1097. Inner Sell Area: 1.1086. Target Inner Area: 1.1060. Inner Buy Area: 1.1034. Original Support: 1.1023. Strong Support: 1.1012. Breakout SELL Level: 1.1006. (Disclaimer)The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis: Important Intraday Levels for USD/JPY, August 30, 2019

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In Asia, Japan will release the Housing Starts y/y, Retail Sales y/y, Prelim Industrial Production m/m, Unemployment Rate, and Tokyo Core CPI y/y, while the US will release some economic data such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Chicago PMI, Personal Income m/m, Core PCE Price Index m/m, and Personal Spending m/m. So there is a probability the USD/JPY pair will move with low to medium volatility during this day. TODAY'S TECHNICAL LEVELS: Resistance.3: 106.98. Resistance. 2: 106.77. Resistance. 1: 106.56. Support. 1: 106.31. Support. 2: 106.10. Support. 3: 105.89. (Disclaimer)

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Forecast for GBP/USD on August 30, 2019

GBP/USD

On Thursday, after the price touched the Fibonacci level of 223.6%, the pound fell and lost 28 points. On the daily chart, the price has consolidated below the trend line of the price channel, approaching the Fibonacci level of 238.2% (1.2154). Leaving the price below the level opens the target of 261.8% Fibonacci at the price of 1.2032. Behind it, the level of 271.0% at the price of 1.1986, and in the area of coincidence with the line of the price channel.

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On the four-hour chart, the price consolidated below the indicator lines of balance and MACD, Marlin is in negative territory, we are waiting for the implementation of the declining scenario. This development can be helped by today's data on the US, where personal incomes of consumers for July is expected to grow by 0.3%, personal expenses by 0.5%, business activity index in the manufacturing sector of the Chicago region for August is forecasted to grow from 44.4 to 48.1.

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GBP/USD approaching resistance, potential drop!

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GBPUSD is approaching our first resistance where we might be seeing a drop below this level.

Entry: 1.2288

Why it's good : 23.6% Fibonacci retracement, 100% Fibonacci extension, horizontal swing high resistance

Stop Loss : 1.23362

Why it's good : 23.6% Fibonacci retracement

Take Profit : 1.21862

Why it's good: Horizontal pullback support, 61.8% Fibonacci extension, 38.2% Fibonacci retracement

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Technical analysis of ETH/USD for 30/08/2019:

Crypto Industry News:

Neil Wals, head of the United Nations Office on the Program on Drugs, Crime and International Cybercrime, warned that cryptocurrencies significantly hinder the fight against money laundering.

Wals expressed the view that criminals using cryptographic resources include global networks of child sexual abuse, which he believes are more widespread than most people are aware of.

He believes that cryptocurrencies are a veil that can facilitate crime. The news comes after treasury secretary Steven Mnuchin said in July that government agencies would prevent Bitcoin and other cryptocurrencies from becoming "equivalent to Swiss bank accounts."

Also in July, Danny Scott, CEO of the Bitcoin Stock Exchange on the Isle of Man, CoinCorner, said that the conviction of the president of the now-defunct darknet market - Silk Road - shows that the use of Bitcoin by criminals is a thing of the past, suggesting that this tool is not used for illegal transactions.

In addition, the latest research by the New York analytical company Blockchain Chainalysis shows that only 8.1% of all cryptographic assets sent to cryptocurrency mixers are related to illegal activity, and only 2.7% come from darknet markets.

Technical Market Overview:

The ETH/USD pair spiked down after days of trading inside of a narrow range and broke below all the local technical supports at $177.07 and $172.82. So far the sell-off has stopped at the level of $164.81 and there is a clear bullish divergence present on the market between the AO oscillator and the price. The price is trading in a narrow consolidation range again with a new local low made at the level of $162.78. No follow-through was made, but the next important technical support is seen at the level of $145.45. Please notice the wave (c) might be completed soon.

Weekly Pivot Points:

WR3 - $218.26

WR2 - $210.07

WR1 - $196.01

Weekly Pivot Pont - $185.93

WS1 - $171.02

WS2 - $161.63

WS3 - $146.97

Trading Recommendations:

The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are being treated as a correction inside of the uptrend. The current cycle is wave 2 of the higher degree and it might have been completed, so the uptrend should resume soon. The global investors are waiting for a breakout above the level of $238.68 to confirm the resumption of the uptrend.

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AUD/USD target reached again! Time to play a bounce

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Price has reached our target form yesterday. Today we're looking to play a bounce up to 1st resistance.

Entry: 0.6710

Why it's good : 61.8% Fibonacci extension, 78.6% fibonacci retracement

Stop Loss : 0.6690Why it's good : Enough space for a bounce

Take Profit : 0.6750

Why it's good: Fibonacci extension and retracement, overlap resistance

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Technical analysis of BTC/USD for 30/08/2019:

Crypto Industry News:

The Portuguese tax office explained that both cryptocurrency trading and crypto payments would be VAT-free in that country, according to a Portuguese business newspaper.

The agency reportedly provided explanations to a local cryptocurrency mining company by publishing an official judgment document. In the document, the authority states that the exchange of cryptocurrencies for fiat money is free of VAT, adding that cryptocurrency users do not have to pay any income tax.

In an official statement, the Portuguese tax authority cited the 2015 European Court of Justice ruling regarding the case of Sweden's largest cryptocurrency portal and its moderator David Hedqvist.

The court then ordered that Bitcoin is a means of payment, and therefore the exchange should be subject to VAT exemption. However, the Swedish tax agency then objected to the ruling, arguing that the court had not fully understood the case.

This confirmation follows the previous tax ruling of the Portuguese authority saying that cryptocurrencies are not taxed in that country. A document published by the agency in 2016 states that revenues from the sale of cryptocurrencies in Portugal are not subject to income tax.

Technical Market Overview:

The BTC/USD pair is close to terminate the wave (c) development as the bears have broken below the trendline support around the level of $9,990 after a failure to break through the upper trendline resistance around the level of $10,200. The bears were able to make a new local low at the level of $9,466 and since then the market did not bounce much. Currently, the price is trading around the level of $9,534, just above the low of the old wave W of the overall corrective cycle. Any violation of this level will lead to sell-off acceleration towards the level of $9,046.

Weekly Pivot Points:

WR3 - $11,710

WR2 - $11,306

WR1 - $10,534

Weekly Pivot Pont - $10,091

WS1 - $9,320

WS2 - $8,854

WS3 - $8,140

Trading Recommendations:

The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are being treated as a correction inside of the uptrend. The larger degree WXY correction might have been completed and the market might be ready for another impulsive wave up of a higher degree. Any violation of the level of $9,049 invalidates the bullish impulsive scenario.

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USD/JPY approaching support, possible bounce!

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USDJPY is approaching support at 105.59 , possible bounce!

Entry :105.66

Why it's good : horizontal pullback resistance

100% Fibonacci extension

50% Fibonacci retracement

Take Profit : 106.28

Why it's good :Horizontal swing low support

78.6% Fibonacci retracement

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Technical analysis of GBP/USD for 30/08/2019:

Technical Market Overview:

The GBP/USD pair did not bounce much as only the level of 1.2248 has been hit before the price reversed again. The Broadening Wedge price pattern might have been completed then because the price has broken below the technical support at the level of 1.2248 and 1.2175. The whole move up is still a part of the correction, because it does not look like the beginning of a new, impulsive trend. The pair is currently testing the nearest technical support located at the level of 1.2156 in overbought market conditions.

Weekly Pivot Points:

WR3 - 1.2616

WR2 - 1.2455

WR1 - 1.2395

Weekly Pivot Pont - 1.2226

WS1 - 1.2161

WS2 - 1.2001

WS3 - 1.1935

Trading Recommendations:

The best strategy for current market conditions is to trade with the larger timeframe trend, which is down. All upward moves will be treated as local corrections in the downtrend. In order to reverse the trend from down to up, the key level for bulls is seen at 1.2429 and it must be clearly violated. As long as the price is trading below this level, the downtrend continues.

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Technical analysis of EUR/USD for 30/08/2019:

Technical Market Overview:

The EUR/USD pair gets closer to the kry technical support as the new local low was made at the level of 1.1040. The bears are clearly in control of this market and the momentum is now weak and negative. Please keep an eye on the current developments as any move lower can change the market positioning for the next days. Any breakout below the level of 1.1027 opens the way towards the next technical support at 1.0912. The downtrend continues.

Weekly Pivot Points:

WR3 - 1.1293

WR2 - 1.1218

WR1 - 1.1193

Weekly Pivot Pont - 1.1119

WS1 - 1.1089

WS2 - 1.1014

WS3 - 1.0984

Trading Recommendations:

The best strategy for current market conditions is to trade with the larger timeframe trend, which is down. All upward moves will be treated as local corrections in the downtrend. The downtrend is valid as long as it is terminated or the level of 1.1445 clearly violated. There is an Ending Diagonal price pattern visible on the larget timeframes that indicate a possible downtrend termination soon. The key short-term levels are technical support at the level of 1.1027 and the technical resistance at the level of 1.1250.

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#USDX vs EUR / USD vs GBP / USD vs USD / JPY. Comprehensive analysis of movement options from August 30, 2019 APLs &

Let me bring to your attention a comprehensive analysis of the options for the movement of currency instruments #USDX, EUR / USD, GBP / USD and USD / JPY from August 30, 2019

Minuette operational scale (H4 time frame)

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US dollar index

The direction of the range breakdown :

  • resistance level of 98.35 (control line UTL pitchfork Minuette operational scale fork);
  • support level of 98.10 (the upper boundary of the 1/2 Median Line channel Minuette operational scale fork);

will determine the development of the movement of the dollar index #USDX from August 30, 2019.

The breakdown of the support level of 98.10 will determine the development of the movement of the dollar index within 1/2 Median Line channels of the Minuette operational scale - (98.10 - 97.80 - 97.45) and Minuette (97.70 - 97.50 - 97.30).

The upward movement of #USDX can be continued with the combined breakdown of the UTL control line (resistance level of 98.35) and the initial SSL line (98.40) of the Minuette operational scale fork, with the subsequent update of the local maximum 98.45 and the following targets of this movement will be - maximum 98.93 - warning line UWL38. 2 Minuette (99.10) - control line UTL Minuette (99.15).

The details of the #USDX movement are presented in the animated chart.

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Euro vs US dollar

The movement of the single European currency EUR / USD from August 30, 2019 will also receive its development depending on the direction of the breakdown of the range :

  • resistance level of 1.1085 (the upper boundary of the 1/2 Median Line channel Minuette operational scale fork);
  • support level of 1.1070 (start line SSL of the Minuette operational scale fork)

The breakdown of the resistance level of 1.1085 (the upper boundary of the 1/2 Median Line Minuette channel) will determine the development of the EUR / USD movement to the targets - the initial SSL Minuette line (1.1111) - the 1/2 Median Line channel (1.1145 - 1.1170 - 1.1195) of the Minuette operational scale fork.

A consecutive breakdown of the SSL start line (support level of 1.1070) of the Minuette operational scale fork and the LTL control line (1.1060) for the Minuette operational scale and 1/2 Median Line Minuette (1.1052) will make the continuation of the downward movement of the single European currency towards the targets relevant - the lower boundary of the 1/2 Median Line channel Minuette (1.1020) - warning line LWL38.2 Minuette (1.0985).

The details of the EUR / USD movement options are shown in the animated chart.

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Great Britain pound vs US dollar

On the other hand, the development of Her Majesty's GBP / USD currency movement from August 30, 2019 will be due to the development and direction of the breakdown of the boundaries of the 1/2 Median Line channe (1.2240 - 1.2215 - 1.2190) of the Minuette operational scale fork. We look at the animated chart for movement details within this channel.

The breakdown of the resistance level of 1.2240 at the upper boundary of the 1/2 Median Line channel of the Minuette operational scale fork will determine the development of the upward movement of Her Majesty's currency to the targets - 1/2 Median Line Minuette (1.2295) - local maximum 1.2309 - control line UTL Minuette (1.2325) - upper channel boundary 1/2 Median Line Minuette (1.2375).

In case of breakdown of the lower boundary of the 1/2 Median Line Minuette channel (support level of 1.2190), the downward movement of GBP / USD can continue to the equilibrium zone (1.2165 - 1.2120 - 1.2080) of the Minuette operational scale fork with the prospect of reaching a minimum of 1.2015.

The details of the GBP / USD movement can be seen in the animated chart.

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US dollar vs Japanese yen

The development of the movement of the currency of the "land of the rising sun" USD / JPY from August 30, 2019 will be due to the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (107.00 - 106.55 - 106.15) of the Minuette operational scale fork. Look at the animated graphics for the movement details inside this channel.

The breakdown of the support level of 105.06 at the lower boundary of the 1/2 channel Median Line Minuette together with ISL38.2 Minuette (106.00) will make it possible to develop the USD / JPY movement within the equilibrium zone (106.00 - 105.45 - 104.90) of the Minuette operational scale fork taking into account the development of the boundaries of the equilibrium zone (105.85 - 105.59 - 105.30) and 1/2 Median Line channel (105.15 - 104.90 - 104.60) of the Minuette operational scale fork.

In case of breakdown of the upper boundary of the 1/2 Median Line channel (resistance level of 107.00) of the Minuette operational scale fork, the upward movement of the currency of the "country of the rising sun" can continue to the targets - control line UTL (107.46) of the Minuette operational scale fork - the initial SSL Minuette line (107.70) is the control line of UTL Minuette (108.40).

We look at the details of the USD / JPY movement in the animated chart.

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The review is made without taking into account the news background. The opening of trading sessions of major financial centers does not serve as a guide to action (placing orders "sell" or "buy").

The formula for calculating the dollar index :

USDX = 50.14348112 * USDEUR0.576 * USDJPY0.136 * USDGBP0.119 * USDCAD0.091 * USDSEK0.042 * USDCHF0.036.

where the power coefficients correspond to the weights of the currencies in the basket:

Euro - 57.6% ;

Yen - 13.6% ;

Pound Sterling - 11.9% ;

Canadian dollar - 9.1%;

Swedish Krona - 4.2%;

Swiss franc - 3.6%.

The first coefficient in the formula leads the index to 100 at the start date of the countdown - March 1973, when the main currencies began to be freely quoted relative to each other.

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Fractal analysis of the main currency pairs on August 30

Forecast for August 30:

Analytical review of currency pairs on the scale of H1:

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For the euro / dollar pair, the key levels on the H1 scale are: 1.1110, 1.1082, 1.1066, 1.1040, 1.1022, 1.0996 and 1.0979. Here, we continue to monitor the descending structure of August 26. Short-term downward movement is expected in the range of 1.1040 - 1.1022. The breakdown of the last value should be accompanied by a pronounced downward movement. Here, the target is 1.0996. For the potential value for the bottom, we consider the level of 1.0979. Upon reaching this level, we expect a rollback to the top.

Short-term upward movement is expected in the range of 1.1066 - 1.1082. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 1.1110. This level is a key support for the downward structure.

The main trend is the downward cycle of August 26.

Trading recommendations:

Buy 1.1066 Take profit: 1.1080

Buy 1.1084 Take profit: 1.1110

Sell: 1.1040 Take profit: 1.1024

Sell: 1.1021 Take profit: 1.0996

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For the pound / dollar pair, the key levels on the H1 scale are: 1.2302, 1.2252, 1.2229, 1.2190, 1.2166, 1.2113 and 1.2063. Here, the price forms a pronounced potential for the downward movement of August 27. Consolidated movement is expected in the range 1.2190 - 1.2166. The breakdown of the last value should be accompanied by a pronounced downward movement. Here, the target is 1.2113. For the potential value for the bottom, we consider the level of 1.2063. Upon reaching this level, we expect a pullback to the top.

Short-term upward movement is expected in the range of 1.2229 - 1.2252. The breakdown of the latter value will favor the formation of an upward structure. Here, the potential target is 1.2302.

The main trend is the formation of potential for the bottom of August 27.

Trading recommendations:

Buy: 1.2230 Take profit: 1.2252

Buy: 1.2255 Take profit: 1.2300

Sell: 1.2190 Take profit: 1.2167

Sell: 1.2164 Take profit: 1.2115

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For the dollar / franc pair, the key levels on the H1 scale are: 0.9958, 0.9920, 0.9893, 0.9877, 0.9839, 0.9822 and 0.9790. Here, we continue to monitor the ascending structure of August 26. The continuation of the movement to the top is expected after the price passes the noise range 0.9877 - 0.9893. In this case, the target is 0.9920. For the potential value for the upward trend, we consider the level of 0.9958. Upon reaching which, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 0.9839 - 0.9822. The breakdown of the latter value will lead to in-depth movement. Here, the target is 0.9790. This level is a key support for the top.

The main trend is the ascending structure of August 26.

Trading recommendations:

Buy : 0.9893 Take profit: 0.9920

Buy : 0.9922 Take profit: 0.9958

Sell: 0.9839 Take profit: 0.9822

Sell: 0.9820 Take profit: 0.9790

analytics5d686d482eb61.png

For the dollar / yen pair, the key levels on the scale are : 107.88, 107.14, 106.87, 106.52, 105.65, 105.37, 104.92 and 104.44. Here, we follow the development of the ascending structure of August 26. The continuation of the movement to the top is expected after the breakdown of the level of 106.52. In this case, the target is 106.87, where consolidation is near this level. The price passage of the noise range 106.87 - 107.14 should be accompanied by a pronounced upward movement. Here, the potential target is 107.88. Consolidation is near this level.

Short-term downward movement is possibly in the range of 105.65 - 105.37. The breakdown of the latter value will lead to the development of a downward structure. In this case, the first target is 104.92. For the potential value for the bottom, we consider the level of 104.44. Consolidation is near this level.

The main trend: the ascending structure of August 26.

Trading recommendations:

Buy: 106.52 Take profit: 106.85

Buy : 107.15 Take profit: 107.88

Sell: 105.35 Take profit: 104.94

Sell: 104.90 Take profit: 104.46

analytics5d686d64f36fd.png

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3379, 1.3357, 1.3328, 1.3318, 1.3305, 1.3275, 1.3259, 1.3241 and 1.3217. Here, the price forms a pronounced potential for the upward movement of August 27. The continuation of the movement to the top is expected after the breakdown of the level of 1.3305. In this case, the target is 1.3318, where consolidation is near this level. The price passage of the noise range 1.3318 - 1.3328 should be accompanied by a pronounced upward movement. Here, the target is 1.3357. For the potential value for the top, we consider the level of 1.3379. Upon reaching this level, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 1.3275 - 1.3259. The breakdown of the last value will lead to a long correction. Here, the target is 1.3241. This level is a key support for the upward structure. Its price passage will lead to the development of a downward movement. In this case, the first potential target is 1.3217.

The main trend is the formation of potential for the top of August 27.

Trading recommendations:

Buy: 1.3305 Take profit: 1.3318

Buy : 1.3328 Take profit: 1.3357

Sell: 1.3275 Take profit: 1.3262

Sell: 1.3257 Take profit: 1.3241

analytics5d686d880495e.png

For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6859, 0.6822, 0.6808, 0.6786, 0.6768, 0.6748 and 0.6725. Here, we are following the formation of the ascending structure of August 26. At the moment, the price is close to the cancellation of this structure, which requires the breakdown of the level of 0.6725. In this case, the potential target for the downward movement is 0.6690. The continuation of the upward trend is expected after the breakdown of the level of 0.6768. In this case, the first target is 0.6786. The breakdown of which, in turn, will allow you to count on movement to 0.6808.

short-term upward movement, as well as consolidation is in the range of 0.6808 - 0.6822. The breakdown of the level of 0.6822 should be accompanied by a pronounced upward movement. Here, the target is 0.6859. Consolidation is near this level, as well as a pullback to the bottom.

The main trend is the formation of the ascending structure of August 21, the stage of deep correction.

Trading recommendations:

Buy: 0.6786 Take profit: 0.6808

Buy: 0.6809 Take profit: 0.6820

Sell : 0.6745 Take profit : 0.6728

Sell: 0.6722 Take profit: 0.6695

analytics5d686daada536.png

For the euro / yen pair, the key levels on the H1 scale are: 118.99, 118.67, 118.22, 118.01, 117.74, 117.28, 117.00 and 116.54. Here, the price forms the potential for the top of August 23. The continuation of the upward movement is expected after the breakdown of the level of 117.74. In this case, the first target is 118.01. The passage of the price at the noise range 118.01 - 118.22, will lead to a pronounced movement. In this case, the target is 118.67. Consolidation is near this level. For the potential value for the top, we consider the level of 118.99. Upon reaching this level, we expect a pullback to the bottom.

The range of 117.28 - 117.00 is a key support for the upward structure. Its price passage will favor the development of a downward movement. In this case, the first potential target is 116.54.

The main trend is the downward cycle of August 13, the formation of the potential for the top of August 23.

Trading recommendations:

Buy: 117.75 Take profit: 118.01

Buy: 118.22 Take profit: 118.65

Sell: 117.28 Take profit: 117.05

Sell: 117.00 Take profit: 116.55

analytics5d686dcaa1349.png

For the pound / yen pair, the key levels on the H1 scale are : 133.74, 132.73, 132.17, 131.23, 130.57, 129.00 and 128.12. Here, price has entered an equilibrium state. Short-term upward movement is expected in the range of 130.57 - 131.23. The breakdown of the latter value will lead to a pronounced upward movement. Here, the target is 132.17. Short-term upward movement, as well as consolidation is in the range of 132.17 - 132.73. For the potential value for the top, we consider the level of 133.74. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.

The range of 129.00 - 128.12 is the key support for the ascending structure of August 12. The breakdown of the level of 128.12 will favor the development of the downward movement. In this case, the first potential target is 126.48.

The main trend is the equilibrium state.

Trading recommendations:

Buy: 130.58 Take profit: 131.23

Buy: 131.26 Take profit: 132.17

Sell: 128.96 Take profit: 128.12

Sell: 128.10 Take profit: 126.55

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Japanese currency trap sellers. Trading idea for the USDJPY.

Japanese trap sellers

Trading idea for the USDJPY

Dear traders, please pay attention to the instrument, which has undeservedly forgotten recently. Everyone knows that the yen often acts as a funding currency, and during periods of crisis, turmoil, and political uncertainties, investors are very pleased to "sit out" in the yen. Thus, it happened this time. Trade wars and exchange of duties led to the strengthening of the Japanese currency against the dollar, and since the spring of this year, we have seen a good short-term trend for USDJPY.

However, this instrument is moving not only because of the strength of the yen, but also because of weak demand for the dollars in general. So, judging by the slowdown in the dynamics of MEGA-overbought gold, a wave of strengthening of the dollar is coming, which will lead to an upward trend in USDJPY as well as earning good money from it.

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The technical picture

In August, the yen updated last year's minimum of 105 and rebounded - exposing a false breakdown in weeks.

From the point of view of D1, the pair formed an ideal level of support-resistance on the quote in the area of the round level 107. This level is a magnet for attracting sellers' stops according to the trend. However, few people know that the so-called "mirror" pattern works well from 1-2 touches, and the longer the market stands at an obvious level, the more likely it is considered as a BREAK.

As you know, I am a supporter of the "hunting for feet" method and I am deeply convinced that in most cases, everyone who puts their feet behind at obvious extremes and levels will sooner or later suffer losses. And the situation with the yen will not be an exception. Therefore, it is suggested to look at the long positions on USDJPY in order to update the level of 107.

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Golden steam engine - Trading ideas for GOLD

Gold is going upwards by leaps and bounds, leaving the "corpses" of traders behind who want to average their short positions on an unprecedented bullish trend. Thus, gold absorbs absolutely all the sales that speculators offer it, which is normal in these conditions.

Imagine yourself as an investor today. How to keep your currency assets? In the euro - with uncertainty in the eurozone and Merkel leaving? In pounds - with Boris Johnson? Or in gold, as banks do it? At the time of geopolitical and trade uncertainties - the answer is obvious. Since the spring of this year, gold has passed an incredible 27,000 points, as well as another 15,000 p over the past six months. This is practically without significant pullbacks.

However, the last movement of quotes 1535 given to gold is not easy. And on D1, the mirror level on it is obvious. As usual, everyone who bought above will first of all hide their risks there, while below is the hourly TF with the most likely levels that will be captured in the near future. This will happen, as usual, on the next news. For example, NFP, or will be the "unexpected" from Trump.

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On the other hand, the first prerequisites for gold sales have already begun to appear, including the other day's American session. Although, this may not be direct sales, but banal profit-taking of those who are already given sitting in longs and sees that the dynamics of gold growth decreased by D1.

In any case, working in shorts on an incredibly overbought instrument in the presence of obvious "debts" below looks very promising, especially in the calculation on fixing the hyper-profits of gold buyers. I also recommend selling gold from a false breakdowns of 1550 and 1555 with the first goal of taking profit at 1525.

It is expected that after a wave of sales, gold may well return to the range of 1500-1550 dollars per troy ounce already on a weekly scale.

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GBP/USD: Johnson paused Parliament. What to expect next?

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The fall of the GBP/USD pair to weekly lows has become perhaps one of the most interesting events in the foreign exchange market in recent days. Another attack on the weakness of the pound was provoked by the Prime Minister of the United Kingdom, Boris Johnson.

The head of government asked the Queen of England to suspend the work of the British Parliament from September 9 to October 14, and she granted his request. Thus, lawmakers can only prevent Great Britain's exit from the European Union during the period from September 3 to 9, and also from October 14 to 31.

According to analysts, the fact that the pound quickly lost ground previously won indicates that B. Johnson remains at least one step ahead of his opponents.

So, the British prime minister made his move, what will follow next and how does this affect the dynamics of the pound?

1. Since the beginning of the Parliament, that is, from September 3, it is worth waiting for a vote of no confidence in B. Johnson and a slight but steady fall in GBP/USD. Most likely, it will not be possible to remove the prime minister from the legislators, since there are still disagreements in the Parliament.

2. Between September 9 and October 14, B. Johnson should expect actions related to an attempt to reach an agreement with the EU. If the eurozone makes concessions, it will be good news for the pound, as it seems to have come to terms with the "hard" Brexit. In this case, the GBP/USD pair will increase, which may be more or less serious.

3. If there are no agreements with the EU and the Parliament starts work from October 14, it is worth paying attention to whether it will be possible for the legislators to delay the terms of the hard Brexit or not. If so, then this will be a small positive for the GBP/USD pair. Otherwise, the UK's exit from the bloc without a deal will be inevitable.

However, it can still change, and it is still difficult to make reliable forecasts. However, one thing is clear: B. Johnson is not David Cameron and Theresa May. An idea, albeit insane (in the opinion of some British MPs), firmly stuck in his head, and he intends to complete the matter, that is, to withdraw the United Kingdom from the EU at all costs.

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The dollar is rising as the market wonders if the US and China can agree

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For the second time in the past two months, US Treasury Secretary Steven Mnuchin said the United States is not going to interfere with forex, but things could change in the future. BofA Merrill Lynch analysts believe that this can happen if the EUR/USD pair drops to the level of 1.05-1.07, while Citigroup analysts expect intervention near the 1.05 mark.

"The risk of one-sided US currency intervention will not go away so easily," said Keith J., Societe Generale currency strategist.

He estimates the probability of intervention at 25% and recommends that investors buy the Canadian dollar if this threat becomes real. According to the analyst, the Canadian currency is underestimated and has fewer shortcomings than most others amid the trade dispute between Washington and Beijing.

Standard Chartered Bank's Steven Englander believes traders should buy the euro to benefit from any intervention.

"If the United States wants to weaken the greenback, the only effective way to do this is to buy EUR and sell USD," he said.

"If the US is targeting currencies such as the offshore yuan and the euro, then long positions in these currencies should be profitable in the event of an intervention," said Scotiabank Shaun Osborne. At the same time, he warns that traders who want to play on foreign exchange intervention must be agile with tactical rates, since the initial shock from any move by the US can quickly disappear.

"Washington's unilateral intervention is unlikely to have a long-term effect on the markets," said Osborne.

Despite the fact that a lot has been said about the dangers of a strong dollar, which includes US President Donald Trump, the greenback continues to strengthen.

The USD index is still trading near annual highs. The main drivers of its growth are the high interest rates of the Fed, the difference in economic growth of the United States and other countries, as well as the belief that Washington will win the trade war with Beijing. According to recent research by Bloomberg Economics, the situation in China continues to deteriorate: business activity and exports are slowing, and stock indices are falling.

The United States and China continue to send conflicting signals to the market regarding trade negotiations. US Presidential National Security Advisor John Bolton said Washington and Beijing still have significant trade disagreements. At the same time, White House spokesman Marc Short was optimistic about the deal. Gao Feng, the official spokesman for the Chinese Ministry of Commerce, said the parties should create the conditions for progress in the negotiations, adding that his country is against the escalation of the trade war with the United States and seeks to calmly resolve the dispute. At the same time, he noted that he was hoping for the abolition of new US duties on Chinese goods and added that Beijing has large-scale retaliatory measures in its arsenal.

The fact that the yield on 10-year US government bonds is at the lows of July 2016 (around 1.5%), demonstrates that investors doubt the imminent end of the trade war.

The greenback is also supported by hawkish statements by FOMC members. In particular, Richmond Fed President Tom Barkin drew attention to signs of accelerating inflation and strong consumer spending in the United States, while San Francisco Federal Reserve Head Mary Daly said that a further cut in interest rates threatens the country's financial stability.

The EUR/USD pair continues to consolidate in the range of 1.1050-1.11150 in anticipation of US GDP data for the second quarter, which may reflect the impact of the Washington and Beijing trade war on the US economy.

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Hot forecast for EUR/USD on 08/29/2019 and trading recommendation

The single European currency steadily fell for three consecutive days. This is largely due to the general situation, which lies in the clear intention of the European Central Bank to find new ways to mitigate its monetary policy. At the same time, the Federal Reserve almost directly tells investors that there is no reason to lower the refinancing rate. Moreover, the banal disparity in interest rates also favors the dollar's growth. Like it or not, but the rate is 0.00% in Europe, and it is 2.25% in the United States. Well, this means that the yield on US government debt securities is significantly higher than in Europe. So it is not surprising that investors prefer the dollar rather than the single European currency.

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However, this fascinating process is not so monotonous, and from time to time there are jumps in one direction or the other on the market, which at least temporarily brings some kind of variety to the life of traders. Today there is a turn of deviations from the given scenario, and the second short-term panic will be caused by the second estimate of the United States GDP for the second quarter. The first estimate showed a slowdown in economic growth from 2.7% to 2.3%, while the second could show a slightly larger decrease, to 2.2%. Naturally, this will instantly lead to renewed discussion of an impending recession in the United States, with calls for the Federal Reserve to immediately lower the refinancing rate. So today we can safely expect the growth of the single European currency, especially since in recent days it has appeared to be somewhat oversold.

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The EUR/USD pair has been stubbornly recovering quotes since the beginning of the trading week after the impulsive jump from Friday, working out more than 80% of at the moment. The sluggish movement has returned us to the framework of the recent flat formation of 1.1066/1.1100, where the quote is now located. Considering everything that happens in general terms, we see that the recent leap has not changed the overall picture of the trend, the pair continues to run in a downward trend, having all the same points of support 1.1060 ---> 1.1000.

It is likely to assume that the movement within the specified limits of 1.1066/1.1100 will still remain for some time in the market, where, against the background of the news flow, we can expect the quotation to return to the upper limit of 1.1100-1.1115. The main move is considered after the breakdown of the given framework.

We concretize all of the above into trading signals:

• We consider long positions in terms of temporary corruption in the direction of 1.1100-1.1115, from the current coordinates.

• We consider short positions in case of price consolidation lower than 1.1060, with the prospect of a move to 1.1030-1.1000.

From the point of view of a comprehensive indicator analysis, we see that indicators relative to all the main time periods signal a further decline. At the same time, indicators in short-term temporary areas signal stagnation, varying interest.

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Indicator analysis. Daily review on August 29, 2019 for the GBP / USD currency pair

On Wednesday, the pair began to move down after being pushed off the resistance line last Tuesday. Moving down, the pair tested a strong pullback level of 50.0% - 1.2163 (blue dotted line), but could not break it down. Strong calendar news is expected at 12.30 Universal time and 14.00 Universal time (dollar).

Trend analysis (Fig. 1).

On Thursday, the price may continue to move down, with the target of 1.2156 - the lower fractal. In case of breaking through this level, going further down to the pullback level of 61.8% - 1.2127 (blue dashed line) is possible.

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Fig. 1 (daily chart).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis - down;

- trend analysis - down;

- Bollinger Lines - down;

- weekly schedule - down.

General conclusion:

On Thursday, the price may continue to move down.

An unlikely scenario is an upward movement to the resistance line 1.2288 (red bold line).

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GBP/USD: plan for the European session on August 29. The pound is preparing for a new fall after yesterday's statements by

To open long positions on GBP/USD is required:

The British pound tried to regain its position against the US dollar, after a major sell-off, which was associated with the British prime minister's statement about the possible suspension of Parliament. However, the bulls did not manage to go above the resistance of 1.2245, which I drew attention to in my yesterday's review. At the moment, the main task of buyers is to break through this range, as only this will provide a new impetus to the bulls with the update of highs in the area of 1.2301 and 1.2343, where I recommend to take profits. If the pressure on the pound continues, which is likely, only the formation of a false breakout in the support area of 1.2195 will allow buyers to return to the market. Otherwise, it is best to open long positions on the rebound from a low of 1.2158.

To open short positions on GBP/USD is required:

The main task of the pound sellers is to break through and consolidate below the support of 1.2195, which will necessarily lead to the demolition of a number of stop orders of buyers below this level, and a further decrease in GBP/USD to the low of 1.2158 and 1.2123, where I recommend taking profit. Pressure on the pound will continue to be exerted by news of the likely suspension of Parliament. Only the failure of Boris Johnson's attempt to implement this measure will return the demand for the pair. In the scenario of growth in the first half of the day, it is best to count on short positions after the formation of a false breakout in the resistance area of 1.243, or sell immediately on a rebound from the weekly high in the area of 1.2301.

Signals of indicators:

Moving averages

Trading is below 30 and 50 moving averages, which indicates a possible continuation of the pound's fall.

Bollinger bands

In case the pound grows, the upward potential of the indicator will be limited by the upper boundary of the indicator in the region of 1.2243. A break of the lower border at 1.2195 will increase pressure on the British pound.

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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: plan for the European session on August 29. Traders are preparing for a series of important fundamental data and

To open long positions on EURUSD you need:

Yesterday, buyers missed the support of 1.1086, which coped with its function for almost three trading sessions. However, there was no major decline due to the lack of news. At the moment, it is best to open long positions after the release of a series of reports on the countries of the eurozone, ranging from consumer confidence and ending with inflation in Germany. Good news background will help the bulls regain the level of 1.1086, which will be the first signal to open long positions in the hope of updating the resistance of 1.1115, from which sellers will return to the market. However, a further target will still be a high of 1.1151, where I recommend taking profits. If eurozone reports put pressure on the euro, which is to be expected, then it is best to consider long positions after updating the low of the month in the region of 1.1055, or on the rebound from the new support of 1.1028.

To open short positions on EURUSD you need:

As long as trading is below a resistance of 1.1086, the market remains on the side of euro sellers. As I noted above, the entire emphasis will be shifted to data on the eurozone, and weak reports with the formation of a false breakdown in the region of 1.1086 will be the first signal to open short positions in order to continue a downward correction to the last week's support area of 1.1055, where I recommend taking profit in the first half a day. However, the main goal of sellers will be a low of 1.1028. If the pair grows after the reports, you can consider new short positions after the formation of a false breakdown in the resistance area of 1.1115, or you can sell immediately for a rebound from a high of 1.1151.

Signals of indicators:

Moving averages

Trading below 30 and 50 moving averages, which indicates the return of euro sellers to the market.

Bollinger bands

A break of the lower boundary of the indicator in the region of 1.1075 will only increase pressure on the euro.

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

Indicator analysis. Daily review on August 29, 2019 for the EUR / USD currency pair

On Wednesday, the price continued to move down. Moving down, the price tested a pullback level of 76.4% - 1.1079 (blue dashed line) and closed slightly higher - 1.1080. Today, strong calendar news is expected at 7.55 Universal time (euro), 12.30 Universal time and 14.00 Universal time (dollar). Also today, the downward movement may continue.

Trend analysis (Fig. 1).

On Thursday, a downward movement with the target of 1.1063 is possible - the support line (blue bold line). There is a chance of breaking this line down, and then continue to the next target of 1.1053, which is the lower fractal.

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Fig. 1 (daily chart).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis - up;

- trend analysis - down;

- Bollinger Lines - down;

- weekly schedule - down.

General conclusion:

On Thursday, a downward movement with the target of 1.1063 is possible - the support line (blue bold line). There is a chance of breaking this line down, and then continue to the next target of 1.1053, which is the lower fractal.

The equivalent scenario is an upward rebound from the support line and an upward movement with the target of 1.1100 - a pullback level of 23.6% (yellow dashed line).

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Technical analysis of ETH/USD for 29/08/2019:

Crypto Industry News:

The Santiago Stock Exchange (STE), Central Securities Depository (DCV) and Global Trade Directory (GTD) announced the creation of a new Blockchain association.

The company BNamericas informs that STE, DCV and GTD have created a consortium for creating Blockchain financial applications, which is reportedly the first of its kind in Latin America.

The agreement provides for the creation of a Blockchain business network: infrastructure to connect public clients around the world via nodes that will provide access to various applications running on the Hyperledger platform.

"Since 2017, we have been cooperating with other securities depositories around the world in the application of Blockchain to the services of our industry, to which is added a project that we are implementing with the central bank of Chile to include this technology in the issue of its financial instruments "- says the Director-General of the Central Securities Depository, Fernando Yanez.

After signing the contract, the three institutions will create a technical committee whose task will be to design the system within six months, consulting the members of the alliance. After this phase, a team of programmers will be employed to build a Blockchain-based platform in about 18 months.

Technical Market Overview:

The ETH/USD pair spiked down after days of trading inside of a narrow range and broke below all the local technical supports at $177.07 and $172.82. So far the sell-off has stopped at the level of $164.81 and there is a clear bullish divergence present on the market between the AO oscillator and the price. The next important technical support is seen at the level of $145.45.

Weekly Pivot Points:

WR3 - $218.26

WR2 - $210.07

WR1 - $196.01

Weekly Pivot Pont - $185.93

WS1 - $171.02

WS2 - $161.63

WS3 - $146.97

Trading Recommendations:

The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are being treated as a correction inside of the uptrend. The current cycle is wave 2 of the higher degree and it might have been completed, so the uptrend should resume soon. The global investors are waiting for a breakout above the level of $238.68 to confirm the resumption of the uptrend.

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Technical analysis of BTC/USD for 29/08/2019:

Crypto Industry News:

Hong Kong's pro-democratic, anti-government protest movement is stimulating a wider adoption of cryptocurrencies such as Bitcoin.

Financial portals report that political unrest in Hong Kong - which has just entered the 12th week - has prompted several local businesses and individuals to switch to non-sovereign and decentralized digital currencies. On August 26, Pricerite department store in Hong Kong announced that it would begin accepting Bitcoin, Litecoin and Ethereum at its fourteen locations in Hong Kong. The store has indicated that it will be able to quickly convert crypto to Hong Kong dollars using the Bitcoin's Lightning Network scalability layer. In addition to traditional retailers, the cryptocurrency company Genesis Block operates 14 cryptocurrency ATMs throughout the city.

In July, Genesis Block - which it trades under the name "CoinHere" - distributed water to protesters who were paid for using international donations in Bitcoin Cash, as well as umbrellas - a symbolic reference to the 2014 umbrella revolution in this city.

The increase in interest in cryptocurrencies appears against the background of other forms of economic activism. Earlier this month, protesters began withdrawing as much money as possible from bank accounts or converting the local currency to US dollars.

This had a dual purpose, serving both as precautionary protection of their personal property and by sending a sharp warning to the Chinese authorities. What's more, it was reported in June that many of Hong Kong's tycoons - a city of 853 people with assets worth over $ 100 million - began to transfer their assets abroad.

If the protest movement fails to prevent the entry into force of the controversial Chinese extradition law, the Chinese continental authorities will have the right to demand that Hong Kong courts freeze and confiscate assets related to crimes committed on the continent.

Technical Market Overview:

The BTC/USD pair has broken below the trendline support around the level of $9,990 after a failure to break through the upper trendline resistance around the level of $10,200. The bears were able to make a new local low at the level of $9,466 and since then the market did not bounce much. Currently, the price is trading around the level of $9,534, just above the low of the old wave W of the overall corrective cycle. Any violation of this level will lead to sell-off acceleration towards the level of $9,046.

Weekly Pivot Points:

WR3 - $11,710

WR2 - $11,306

WR1 - $10,534

Weekly Pivot Pont - $10,091

WS1 - $9,320

WS2 - $8,854

WS3 - $8,140

Trading Recommendations:

The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are being treated as a correction inside of the uptrend. The larger degree WXY correction might have been completed and the market might be ready for another impulsive wave up of a higher degree. Any violation of the level of $9,049 invalidates the bullish impulsive scenario.

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Technical analysis of GBP/USD for 29/08/2019:

Technical Market Overview:

The GBP/USD pair has reversed down after hitting the level of 1.2308 which is located just below the 61% Fibonacci retracement at 1.2324. The Broadening Wedge price pattern might have been completed then because the price has broken below the technical support at the level of 1.2248 and 1.2175. The whole move up is still a part of the correction, because it does not look like the beginning of a new, impulsive trend. The pair is currently testing the nearest technical support located at the level of 1.2156 in overbought market conditions.

Weekly Pivot Points:

WR3 - 1.2616

WR2 - 1.2455

WR1 - 1.2395

Weekly Pivot Pont - 1.2226

WS1 - 1.2161

WS2 - 1.2001

WS3 - 1.1935

Trading Recommendations:

The best strategy for current market conditions is to trade with the larger timeframe trend, which is down. All upward moves will be treated as local corrections in the downtrend. In order to reverse the trend from down to up, the key level for bulls is seen at 1.2429 and it must be clearly violated. As long as the price is trading below this level, the downtrend continues.

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