Forecast for USD / JPY pair on September 10, 2019

USD / JPY pair

Over the past two days, the USD/JPY pair has accomplished the difficult task of implementing the main scenario of exiting (and almost fixed itself) above the line of the growing price channel (107.14), indicated in green on the daily chart. At the same time, the price is higher than the red indicator line of balance. Oscillator Marlin is growing.

analytics5d77199356301.png

The purpose of the dollar is the line of the falling price channel around 108.38. As in previous days, the dollar against the yen is growing against the pressure of foreign markets, that is, it demonstrates strength. Yesterday, the US stock indices closed mixed today while only Nikkei 225 (0.16%) and Indonesian IDX Composite (0.08%), China and Australia are in the red zone from ART.

analytics5d7719afb31fb.png

On a four-hour chart, the price also rises above the indicator lines. The Marlin Oscillator does not form reversal patterns. We are waiting for the price near the specified target of 108.38.

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

EUR / USD: Rumors of German "shadow schemes" helped the euro adjust

The euro-dollar pair moved away from the base of the 10th figure yesterday, reacting to positive news background. Several fundamental factors contributed to the corrective growth of the European currency. At the forefront of events is Germany, which yesterday pleased investors with good statistics and news about the creation of the so-called "shadow budget". After a series of negative macroeconomic reports, traders got the opportunity to win back their lost positions even if the growth of the EUR/USD pair was limited.

Let's start with the statistics. Yesterday, it turned out that export volume unexpectedly increased in Germany. This indicator, taking into account seasonal fluctuations, increased by 0.7% in July compared with June. At the same time, most experts expected a decline in exports by 0.5%. The structure of this indicator suggests that the largest contribution to the growth of the export sector was made by markets outside the European Union. In general, German exports grew by 1% from January to July. Also, the trade surplus rose to 20.2 billion euros in July. Not without a "fly in the ointment" against the backdrop of the growth of German exports, the volume of imports decreased by 1.5%.

analytics5d77183cd3b30.jpg

Traders of the EUR/USD pair yesterday drew attention to another indicator - the Sentix investor confidence index. This is a leading indicator of economic health, which is formed on the basis of a survey of investors and analysts. For three months (from June to August), it was below the zero mark and consistently decreased, collapsing at the end of the summer to the level of -13.7 points. Contrary to negative forecasts, the indicator recovered slightly to -11 points in September, mainly due to the growth of optimism regarding the trade deal between the USA and China.

However, the main driver of the EUR/USD corrective growth was the news that Germany could create the so-called "shadow budget" to increase government spending. It is worth mentioning right away that this news is unofficial in nature. According to Reuters, the German government is now only considering the possibility of creating this mechanism given the slowdown in the growth of the national economy (German GDP fell by 0.1% in April-June after growing by 0.4% in January-March). The main objective of the mechanism under discussion is to increase government spending in such a way as to circumvent restrictions on the growth of public debt, thereby observing the rules of the European "Stability and Growth Pact."

Let me remind you that for the violation of the Pact, Brussels was going to hold Italy accountable at the end of last year. Rome was facing a fine of several billion euros for exceeding the "ceiling" of the budget deficit. If Berlin succeeds in creating a "shadow mechanism" that will allow legally increasing government spending, then these funds will be directed to infrastructure and other projects. Such prospects were positively received by investors, although Germany officially denies the existence of such intentions. Just last week, a spokeswoman for the German ministry of finance said the government still held the position of "fiscal rationality."

That is why this fundamental factor had a limited effect on the pair. The price rose by several dozens of points but did not even test the 11th figure. Although in my opinion, there is a certain reason for optimism in this case. Let me remind you that even in early August, representatives of the German government said that Berlin could allow a budget deficit by loosening budget-saving rules and abandoning a zero-deficit policy. This assumption was made by Angela Merkel while allowing fiscal stimulation. This position of the chancellor surprised traders as the Germans were always very conservative in this matter.

It is worth noting here that the German Constitution limits the increase in federal debt to 0.35% of the nominal volume of economic production, subject to GDP growth. However, the law provides the government with certain agility in crisis situations. After much debate and debate, Berlin nevertheless expressed its readiness for action and this fact then provided some support for the euro because the financial impulse from Germany is especially important in the context of the September meeting of the ECB. According to some experts, this step on the part of the Germans will allow members of the European regulator not to resort to extremely aggressive measures to soften the parameters of monetary policy. And so, a few weeks later similar information appears on the market again but this time in the context of creating a "shadow budget".

analytics5d77182a0c719.jpg

In general, the euro-dollar pair is unlikely to show strong volatility in the coming days, ahead of the September meeting of the ECB, which will be held on Thursday. Among traders, the most diverse rumors are circulating regarding the further steps of the European regulator. Most experts are confident that the Central Bank will not only resume QE but also reduce the interest rate further into the negative area. At the same time, you can increasingly find information in the press that not all members of the regulator agree with the implementation of this scenario. Rumors of a possible split in the ECB camp keep the euro from falling on the eve of the September meeting. Thus, we can assume that in the next two days, the pair will be trading in the range between 1,1005 (Tenkan-sen line on the daily chart) and 1,1090 (Kijun-sen line on the same timeframe).

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

Technical analysis of ETH/USD for 10/09/2019

Crypto Industry News:

The South Korean electronics giant, LG, is working with Blockchain programmers to launch its rival to Samsung's Blockchain smartphone.

LG has already talked to local developers of decentralized applications (DApp) and developed a case of use of its future product.

Messages appear a week after reports that the Korean Kakao Corp messaging service. is preparing to introduce the Blockchain function in the upcoming Samsung Galaxy Note 10 smartphone.

The device, named Klaytn Phone, will receive a wallet and a free sample of KLAY, a token developed by GroundX.

The newest of the growing number of smartphones with cryptocurrency support may have a domino effect, said another official representative for Chosun. LG's move would not be devoid of character in a highly competitive consumer market.

"I think Samsung is trying to prepare differently in the Blockchain field, just like LG reacted with a double screen when Samsung Galaxy came out with a folding phone," they said.

It is not known whether the future LG offer will be available worldwide. Klaytn will only be available on the South Korean domestic market.

Technical Market Overview:

The ETH/USD pair has made a new local high at the level of $186.62 after the test of the trendline has been successful. For now the price is locked inside a narrow horizontal trading zone located between the levels of $175.25 - $183.43, but in order to regain control of the market, the bulls will have to make a new swing high again and head towards the level of $193.52 in an impulsive fashion, otherwise, the bears might push the prices lower towards the support at $172 and $164.81 again.

Weekly Pivot Points:

WR3 - $207.64

WR2 - $195.13

WR1 - $188.15

Weekly Pivot - $176.09

WS1 - $169.04

WS2 - $156.97

WS3 - $149.69

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 lower wave 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 $202.59 and $238.68 to confirm the resumption of the uptrend.

analytics5d773d18a755d.jpg

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

Technical analysis of BTC/USD for 10/09/2019

Crypto Industry News:

Twitter and Square CEO Jack Dorsey said he had no plans for cryptocurrency "Twitcoin", noting that he would instead focus on promoting Bitcoin.

According to the Australian news magazine, Dorsey is confident that Bitcoin is still the most likely candidate for being a native internet currency.

"I think that open internet standards serve every person better than those controlled or established by companies," he said.

Dorsey visited Melbourne to take part in the launch of Square Terminal, a new hardware device at points of sale that is intended as an alternative to those provided by banks. He also expressed his views on banks and the economy in general:

"Control, power and practices of banks are a global phenomenon, but I think this is particularly acute in Australia. [...] We are always entering a recession and always getting out of one, and anyone who expresses an opinion on this subject is cheating on himself. [ ...] There is no one on this planet who understands the global economy" he said.

Dorsey also noted that he is not considering the idea of following Libra from Facebook and the crypto release on Twitter, and that he prefers to use existing open standards such as Bitcoin.

Technical Market Overview:

The BTC/USD pair has completed the impulsive wave 1 to the upside and currently, the market is in the corrective cycle that might extend lower. The price has hit the 50% of the Fibonacci retracement already at the level of $10,074, so the next target is seen at the level of 61% Fibonacci at $9,882. Those two targets are high-probability level for the wave 2 to terminate and to start the wave 3 to the upside.

Weekly Pivot Points:

WR3 - $12,244

WR2 - $11,525

WR1 - $10,919

Weekly Pivot - $10,260

WS1 - $9,607

WS2 - $8,906

WS3 - $8,306

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 wave 2 corrective cycles is about to be completed and the market might be ready for another impulsive wave up of a higher degree. Any violation of the level of $9,231 invalidates the bullish impulsive scenario.

analytics5d773ba0caa15.jpg

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

Technical analysis of GBP/USD for 10/09/2019

Technical Market Overview:

The new high was made on the GBP/USD pair at the level of 1.2381 after the successful test of the technical support located at the level of 1.2231 was made. The next target for bulls is seen at the level of 1.2430 (weekly techncial resistance from January 2018). On the other hand, the next targets for bears, if they will continue the pull-back is seen at the level of 1.2224 or even at the level of 1.2175. The larget timeframe trend remains down and this move up is being considered as a corrective rally in a down trend.

Weekly Pivot Points:

WR3 - 1.2838

WR2 - 1.2600

WR1 - 1.2467

Weekly Pivot - 1.2210

WS1 - 1.2063

WS2 - 1.1816

WS3 - 1.1679

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 towards the level of 1.2000 and below.

analytics5d773a2f52395.jpg

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

Technical analysis of GBP/USD for 10/09/2019

Technical Market Overview:

The new high was made on the GBP/USD pair at the level of 1.2381 after the successful test of the technical support located at the level of 1.2231 was made. The next target for bulls is seen at the level of 1.2430 (weekly techncial resistance from January 2018). On the other hand, the next targets for bears, if they will continue the pull-back is seen at the level of 1.2224 or even at the level of 1.2175. The larget timeframe trend remains down and this move up is being considered as a corrective rally in a down trend.

Weekly Pivot Points:

WR3 - 1.2838

WR2 - 1.2600

WR1 - 1.2467

Weekly Pivot - 1.2210

WS1 - 1.2063

WS2 - 1.1816

WS3 - 1.1679

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 towards the level of 1.2000 and below.

analytics5d773a2f52395.jpg

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

Technical analysis of EUR/USD for 10/09/2019

Technical Market Overview:

The EUR/USD pair is trading in a narrow consolidation zone located between the levels of 1.1017 - 1.1072 after the rally has failed to breakout above the 61% Fibonacci retracement located at the level of 1.1072. In order to regain control over the price, the bulls have to break through this level and go higher towards the next target located at the level of 1.1091 and then at 1.1167. For now, the bullish momentum is increasing as the RSI indicator jumps around the level of 50 in overbought market conditions. The larger timeframe trend remains down, but the Ending Diagonal price pattern on Weekly and Daily timeframe charts is still valid.

Weekly Pivot Points:

WR3 - 1.1261

WR2 - 1.1174

WR1 - 1.1105

Weekly Pivot - 1.1012

WS1 - 1.0944

WS2 - 1.0856

WS3 - 1.0789

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 1.0814 and the technical resistance at the level of 1.1267.

analytics5d77390e09e7f.jpg

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

EUR/USD: plan for the European session on September 10. Euro buyers make an unsuccessful attempt to break 1.1053, which remains

To open long positions on EURUSD you need:

Yesterday, buyers of the euro kept the support level of 1.1020 and made an attempt to continue to grow amid a lack of fundamental data on the eurozone, but again failed to break above the resistance level of 1.1053. At the moment, the focus in the first half of the day will be concentrated at the same level of 1.1053, a breakdown of which will lead to an update of last week's high in the area of 1.1082, where I recommend taking profits. A bigger growth should not be expected due to an important European Central Bank meeting, the results of which will be known in a few days. The ECB is expected to lower interest rates. Under the scenario of EUR/USD decline, you can count on support in the region of 1.1020, however, opening long positions from there is best after a false breakdown, or buy the pair for a rebound from a low of 1.0989.

To open short positions on EURUSD you need:

From a technical point of view, nothing has changed. Euro sellers are activated after an update of resistance at 1.1053, and the formation of a false breakdown there will be the first signal to open short positions in the expectation of a return and correction to the support of 1.1020. However, a breakthrough and consolidation below this low continues to be a more important task, which will push EUR/USD to the area of large levels 1.0989 and 1.0955, where I recommend taking profits. In the event of further growth above the resistance of 1.1053, it is best to count on selling on a rebound from the high of 1.1082, which kept the pair yesterday from further growth in the last week.

Signals of indicators:

Moving averages

Trade is conducted in the region of 30 and 50 moving averages, which indicates market uncertainty.

Bollinger bands

In case of growth, the upward trend will be stopped near the upper boundary of the indicator 1.1065, while a breakthrough of the lower boundary in the area of 1.1030 may increase the pressure on the euro.

analytics5d7740c714abc.png

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

GBP/USD facing bearish pressure from resistance, potential for further drop!

analytics5d77349aaaa5f.jpg

GBPUSD is facing bearish pressure from our first resistance where we could be seeing a further drop below this level.

Entry: 1.2383

Why it's good : horizontal pullback resistance, 50% Fibonacci retracement

Stop Loss : 1.2522

Why it's good : horizontal swing high resistance

Take Profit : 1.2167

Why it's good: Horizontal overlap support, 50% Fibonacci retracement

analytics5d773477d5c7b.png

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

NZD/USD pullback in progress below key resistance

analytics5d7734232ccc5.jpg

NZDUSD is seeing a pull back below resistance at 0.64440. Further drop expected.

Entry: 0.64320

Why it's good : Horizontal graphical resistance

Take Profit : 0.63957

Why it's good: 61.8% Fibonacci retracementStop Loss: 0.64440Why it's good:

Horizontal graphical resistanceanalytics5d7733f3321a8.png

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

USD/JPY approaching upside confirmation, potential drop!

analytics5d773399edd9e.jpg

USDJPY is reversing off 1st resistance at 107.49 and could drop further from here!

Entry :107.49

Why it's good :horizontal swing high resistance

61.8% Fibonacci retracement

61.8% Fibonacci extension

Take Profit : 107.09

Why it's good :horizontal pullback support

23.6% Fibonacci retracement, 61.8% Fibonacci extension

analytics5d77337965493.png

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

Technical analysis: Important Intraday Levels For EUR/USD, September 10, 2019

analytics5d7719132675d.jpg

When the European market opens, some economic data will be released such as Italian Industrial Production m/m, French Industrial Production m/m, and French Final Private Payrolls q/q. The US will also publish the economic data such as JOLTS Job Openings and NFIB Small Business Index, 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: 1.1101. Strong Resistance: 1.1095. Original Resistance: 1.1084. Inner Sell Area: 1.1073. Target Inner Area: 1.1048. Inner Buy Area: 1.1023. Original Support: 1.1012. Strong Support: 1.1001. Breakout SELL Level: 1.0995. (Disclaimer)The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis: Important Intraday Levels for USD/JPY, September 10, 2019

analytics5d7718a607130.jpg

In Asia, Japan will release the Prelim Machine Tool Orders y/y and M2 Money Stock y/y, while the US will publish some economic data such as JOLTS Job Openings and NFIB Small Business Index. 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 : 108.00.

Resistance. 2: 107.79.

Resistance. 1: 107.58.

Support. 1: 107.32.

Support. 2: 107.11.

Support. 3: 106.90.

(Disclaimer)

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

Forecast for EUR/USD on September 10, 2019

EUR/USD

On Monday, the euro made another attempt to work out the target level of 1.1073 - the Fibonacci level of 123.6%, but this time stopped short of positive news about the growth of Germany's trade balance in July from 18.0 billion euros to 20.2 billion and ideas of Germany to establish a parallel state structure for attracting investment through increased public debt, which turned out to be insufficient.

analytics5d772ea6daacb.png

On the daily chart, the signal line of the Marlin Oscillator shows the intention of a reversal down from the boundary with the growth territory. This is the first, but weak and the only sign of a possible price reversal down, there are no others even on the four-hour chart.

analytics5d772ebc89c29.png

On H4, the price develops above the indicator lines of balance and MACD. Marlin is also in the upward trend zone. If the price consolidates above the level of 1.1073, growth to the Fibonacci level of 110.0% is possible at the price of 1.1157. The development of the downward trend is possible after the price goes below the MACD line on H4 (1.1006) and under the Fibonacci level of 138.2% at the price of 1.0986. In this case, the target level is the Fibonacci level of 161.8% at the price of 1.0844.

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

Control zones for USD/JPY pair on 09/10/19

The upward momentum allows you to keep part of the purchases open in the current and last weeks. The target zone of the 1/2 WCZ 107.66-107.57 is within the daily average move, which indicates the need for the next fixation of purchases in the near future. It is important to note that just above the specified zone is the level of 107.72, which has been targeted since the end of July with the probability of testing by 90%.

analytics5d772eab2b38d.png

Any decrease in the pair within the average daily course will be corrective, which will allow obtaining favorable prices for the purchase of the instrument. Opening yesterday's trading will be the determining level. If the pair trades above it, then the probability of updating local highs will remain above 70%.

In order for the alternative decline model to develop, it will require the absorption of today's and yesterday's growth and the closure of trades below. In this case, market sales will be able to block the volume of purchases, which will lead to the formation of a local accumulation zone. This model should be used as an auxiliary one since the probability of its implementation is below 30%.

analytics5d772ec4cf1a1.png

Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.

Weekly CZ - weekly control zone. The area formed by marks from the important futures market, which changes several times a year.

Monthly CZ - monthly control zone. The area is a reflection of the average volatility over the past year.

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

Forecast for GBP/USD on September 10, 2019

GBP/USD

Against the background of a relatively calm market on Monday, the British pound was growing more than a figure in the moment after a joint conference of Boris Johnson and Irish Prime Minister Leo Varadkar. Virtually nothing of any importance was said, but the markets took it as a sign of softening Johnson's mood. The pound fulfilled the target 1.2381 (July 17 low) and today it slightly pulled back in the Asian session, forming a weakly expressed divergence on the Marlin oscillator on a smaller chart. At daily, Marlin showed its intention to turn down.

analytics5d772d05bfeb2.png

The pound's first task when implementing a decreasing (and main) scenario will be to consolidate the price below the MACD line on the four-hour chart (1.2264), after which it is then possible to achieve important support for the daily scale 1.2188 - at the point where the price channel line coincides with the MACD indicator line. Leaving the price below opens the subsequent target at 1.2077-1.2107.

analytics5d772d1b16103.png

The ability of the pound to gain a foothold over yesterday's high, which automatically means that a foothold above the signal level, of course, remains, because at the moment, an upward trend is being maintained in all indicators. In this case, growth to the magnetic point of coincidence of the price channel line and the Fibonacci level of 161.8% at the price of 1.2548 (daily) is possible.

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

Control zones USDCHF 09/10/19

Today, the pair returned again to the weekly control zone 0.9951-0.9929, which indicates the formation of a medium-term accumulation zone. Keeping the price below this zone and forming an absorption pattern will allow you to close the remains of a long position and enter the sale. The target of the downward movement will be the minimum of the last week, which was formed thanks to testing the WCZ 1/2 0.9807-0.9796.

analytics5d7717d67c710.png

On the higher timeframe, you can track a clear upward trend. Continued growth will target the maximum of July, which is a quarterly extreme.

An alternative model of continued growth will be developed if the pair can gain a foothold above the weekly control zone. This will open the direction for further growth. Closing of today's trading should occur either within the zone or above it. Purchases from the current levels are not profitable, as the probability of a large offer is increasing.

analytics5d7717ecdae58.png

Daily CZ - daily control zone. An area formed by important data from the futures market that changes several times a year.

Weekly CZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.

Monthly CZ - monthly control zone. An area that reflects the average volatility over the past year.

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

Fractal analysis of the main currency pairs for September 10

Forecast for September 10:

Analytical review of currency pairs on the scale of H1:

analytics5d76f9618f3d1.png

For the euro / dollar pair, the key levels on the H1 scale are: 1.1155, 1.1122, 1.1097, 1.1047, 1.1008, 1.0987, 1.0960 and 1.0926. Here, we continue to monitor the development of the ascending structure of September 3. The continuation of the movement to the top is expected after the breakdown of the level of 1.1047. In this case, the target is 1.1097. Short-term upward movement, as well as consolidation is in the range of 1.1097 - 1.1122. We consider the level of 1.1155 to be a potential value for the upward trend. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement is expected in the range of 1.1008 - 1.0987. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.0960. This level is a key support for the upward structure. Its passage at the price will lead to the formation of a local downward structure. In this case, the first goal is 1.0926.

The main trend is the upward structure of September 3.

Trading recommendations:

Buy: 1.1047 Take profit: 1.1095

Buy 1.1098 Take profit: 1.1120

Sell: 1.1008 Take profit: 1.0988

Sell: 1.0985 Take profit: 1.0960

analytics5d76f97e7d392.png

For the pound / dollar pair, the key levels on the H1 scale are: 1.2460, 1.2408, 1.2351, 1.2300, 1.2266, 1.2218 and 1.2190. Here, we follow the development of the upward cycle of September 3. The continuation of the movement to the top is expected after the breakdown of the level of 1.2351. In this case, the target is 1.2408. The breakdown of which, in turn, will allow us to count on the movement to the potential target - 1.2460. Upon reaching this level, we expect a pullback to the bottom.

Consolidated movement is expected in the range of 1.2300 - 1.2266. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.2218. The range of 1.2218 - 1.2190 is a key support for the upward cycle.

The main trend is the upward cycle of September 3.

Trading recommendations:

Buy: 1.2351 Take profit: 1.2406

Buy: 1.2409 Take profit: 1.2460

Sell: 1.2300 Take profit: 1.2268

Sell: 1.2264 Take profit: 1.2218

analytics5d76f99e45417.png

For the dollar / franc pair, the key levels on the H1 scale are: 0.9991, 0.9974, 0.9947, 0.9917, 0.9865, 0.9849, 0.9824 and 0.9796. Here, we follow the development of the ascending structure of September 4. The continuation of the movement to the top is expected after the breakdown of the level of 0.9917. In this case, the target is 0.9947, near this level is a price consolidation. The breakdown of the level of 0.9947 will lead to movement to a potential target - 0.9974. Upon reaching this value, we expect consolidation in the range of 0.9974 - 0.9991, as well as a rollback to the bottom.

Departure for correction is expected after the breakdown of the level of 0.9887. In this case, the target is 0.9865. Short-term downward movement is expected in the range of 0.9865 0.9849. The breakdown of the latter value will favor the development of a downward structure.

The main trend is the rising structure of September 4.

Trading recommendations:

Buy : 0.9917 Take profit: 0.9945

Buy : 0.9948 Take profit: 0.9972

Sell: 0.9885 Take profit: 0.9867

Sell: 0.9865 Take profit: 0.9850

analytics5d76f9b9d7434.png

For the dollar / yen pair, the key levels on the scale are : 108.12, 107.76, 107.49, 107.17, 106.80, 106.60 and 106.29. Here, we follow the development of the ascending structure of September 3. Short-term upward movement is expected in the range of 107.49 - 107.76, hence the likelihood of a reversal in the correction. For the potential value for the top, we consider the level of 108.12. Upon reaching which, we expect a pullback to the bottom

A correction can take place after the breakdown of the level of 107.07. Here, the target is 106.80. A short-term downward movement is in the range of 106.80 - 106.60. A breakdown of the last value will lead to the development of a downward trend. Here, the potential target is 106.29.

Main trend: local upward structure from September 3.

Trading recommendations:

Buy: 107.50 Take profit: 107.74

Buy : 107.78 Take profit: 108.10

Sell: 107.05 Take profit: 106.82

Sell: 106.78 Take profit: 106.60

analytics5d76f9e0d985e.png

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3259, 1.3230, 1.3208, 1.3155, 1.3117, 1.3094 and 1.3052. Here, we follow the development of the descending structure of September 3. The continuation of the movement to the bottom is expected after the breakdown of the level of 1.3155. In this case, the target is 1.3117. Price consolidation is in the range of 1.3117 - 1.3094. We consider the level of 1.3052 to be a potential value for the bottom; upon reaching this level, we expect a pullback to the top.

Short-term upward movement is possibly in the range of 1.3208 - 1.3230. The breakdown of the last value will lead to a long correction. Here, the target is 1.3259. This level is a key support for the downward structure.

The main trend is the descending structure of September 3.

Trading recommendations:

Buy: 1.3208 Take profit: 1.3230

Buy : 1.3232 Take profit: 1.3259

Sell: 1.3155 Take profit: 1.3120

Sell: 1.3116 Take profit: 1.3095

analytics5d76fa0dd31fa.png

For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6967, 0.6918, 0.6884, 0.6867, 0.6841, 0.6822 and 0.6793. Here, we follow the development of the ascending structure of September 3. Short-term upward movement is expected in the range of 0.6867 - 0.6884. The breakdown of the latter value will lead to a movement to the level of 0.6918. Price consolidation is near this value. For the potential value for the top, we consider the level of 0.6967. Upon reaching this level, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 0.6841 - 0.6822. The breakdown of the last value will lead to a long correction. Here, the potential target is 0.6793. This level is a key support for the top.

The main trend is the upward structure of September 3.

Trading recommendations:

Buy: 0.6886 Take profit: 0.6918

Buy: 0.6920 Take profit: 0.6965

Sell : 0.6840 Take profit : 0.6822

Sell: 0.6820 Take profit: 0.6795

analytics5d76fa2d287cd.png

For the euro / yen pair, the key levels on the H1 scale are: 119.60, 119.05, 118.78, 118.34, 118.02 and 117.53. Here, we continue to monitor the development of the ascending structure of September 3. Short-term upward movement is expected in the range of 118.78 - 119.05. The breakdown of the last value will lead to movement to a potential target - 119.60, when this level is reached, we expect a pullback to the bottom.

Short-term downward movement is expected in the range of 118.34 - 118.02. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 117.53. This level is a key support for the upward structure.

The main trend is the upward cycle of September 3.

Trading recommendations:

Buy: 118.78 Take profit: 119.05

Buy: 119.07 Take profit: 119.60

Sell: 118.34 Take profit: 118.04

Sell: 118.00 Take profit: 117.55

analytics5d76fa4f04fbf.png

For the pound / yen pair, the key levels on the H1 scale are : 134.74, 134.10, 132.94, 132.18, 131.36, 130.71 and 129.70. Here, we continue to monitor the development of the upward cycle of September 3. We expect short-term upward movement, as well as consolidation, in the range of 132.18 - 132.94. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the goal is 134.10. For the potential value for the top, we consider the level of 134.74. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement is possibly in the range of 131.36 - 130.71. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 129.70. This level is a key support for the upward structure.

The main trend is the upward structure of September 3.

Trading recommendations:

Buy: 132.96 Take profit: 134.10

Buy: 134.10 Take profit: 134.72

Sell: 131.36 Take profit: 130.74

Sell: 130.68 Take profit: 129.80

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

#USDX vs EUR / USD vs GBP / USD vs USD / JPY. Comprehensive analysis of movement options on September 10, 2019 APLs &

Let me bring to your attention a comprehensive analysis of the movement of currency instruments #USDX, EUR / USD, GBP / USD and USD / JPY from September 10, 2019

Minuette (H4 time frame)

____________________

US dollar index

The development of the movement of the dollar index #USDX on September 10, 2019 will continue to be determined by working out and the direction of breakdown of the boundary of the equilibrium zone (98.75 - 98.50 - 98.30) of the Minuette operational scale. The marking of the movement inside this zone is presented in the animated chart.

The breakdown of the lower boundary of ISL61.8 (support level of 98.30) the equilibrium zone of the Minuette operational scale fork with the subsequent breakdown of the support level of 98.20 - an option for the development of the movement of the dollar index in the 1/2 Median Line channel (98.20 - 97.85 - 97.52) of the Minuette operational scale fork with the prospect of reaching a local minimum of 97.21.

On the other hand, the breakdown of the resistance level of 98.30 (the upper boundary of the ISL38.2 equilibrium zone of the Minuette operational scale fork) will make it relevant to continue the development of the upward movement of #USDX to the boundaries of the 1/2 Median Line Minuette channel (99.10 - 99.25 - 99.40).

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

analytics5d7671f8372c0.jpg

____________________

Euro vs US dollar

The movement of the single European currency EUR / USD on September 10, 2019 will be determined by the direction of the breakdown of the boundaries of the 1/2 Median Line channel (1.1050 - 1.1025 - 1.1000) of the Minuette operational scale fork. Look at the animated chart for the details of this movement.

The breakdown of the resistance level of 1.1050 (the upper boundary of the 1/2 Median Line channel of the Minuette operational scale fork) - the movement of the single European currency will continue to the boundaries of the equilibrium zones of the Minuette operational scales fork (1.1065 - 1.1110 - 1.1150) and Minuette (1.1110 - 1.1160 - 1.1215).

In case of breakdown of the lower boundary of the 1/2 Median Line Minuette channel (support level of 1.1000), the downward movement of EUR / USD will be directed to the targets - initial SSL (1.0950) of the Minuette operational scale fork - local minimum 1.0926.

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

analytics5d7671e07a180.jpg

____________________

Great Britain pound vs US dollar

Range Breakdown Direction:

  • resistance level of 1.2365 (control line UTL Minuette operating scale fork );
  • support level of 1.2305 (the initial line of SSL Minuette operational scale fork);

will begin to determine the development trend of Her Majesty's GBP / USD currency movement on September 10, 2019.

The breakdown of the UTL control line (resistance level of 1.2365) of the Minuette operational scale fork will determine the continued development of the upward GBP / USD to the final line FSL (1.2515) of the Minuette operational scale fork and warning line UWL38.2 Minuette (1.2625).

In the event of a sequential breakdown of the SSL initial line (support level of 1.2305) of the Minuette operational scale forks and ISL61.8 Minuette (1.2285), the development of Her Majesty's currency movement will continue in the equilibrium zone (1.2285 - 1.2210 - 1.2135) of the Minuette operational scale fork taking into account the working out of the boundaries of the 1/2 Median Line Minuette channel (1.2225 - 1.2180 - 1.2135) with a possible prospect of reaching the equilibrium zone (1.2110 - 1.2050 - 1.1990) of the Minuette operational scale fork.

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

analytics5d7671b7f4164.jpg

____________________

US dollar vs Japanese yen

Starting from September 10, 2019, the movement of the USD / JPY currency of the country of the rising sun will become determined by mining and the direction of the breakdown of the boundaries of the channel of the equilibrium zone (107.55 - 107.00 106.35) of the Minuette operational scale. The development options are shown in the animated chart.

In case of the breakdown of the support level of 106.35 (the lower boundary of the equilibrium zone ISL38.2 of the Minuette operational scale fork), it will determine the development of the currency of the "country of the rising sun" in the 1 / 2 Median Line Minuette channel (106.35 - 105.85 - 105.40) with the prospect of reaching the upper boundary of ISL38.2 (105.05) of the Minuette operational scale fork.

And if the breakdown of the upper boundary of ISL61.8 (resistance level of 107.55) of the equilibrium zone of the Minuette operational scale takes place, then it will be possible to continue the development of the upward movement of USD / JPY to the final Schiff Line Minuette (107.85), maximum of 109.33 and the final line FSL Minuette (109.40).

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

analytics5d76719b7371c.jpg

____________________

The review is made without taking into account the news background. The opening of trading sessions of the main 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 power factors 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.

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

The expected continuation of the period of local consolidation of the cryptocurrency market (we expect a local decrease in

The dynamics of the cryptocurrency market are still strongly influenced by the uncertainty factor of the growth prospects of the global economy. These financial assets are fully influenced by the same reasons as other traditional financial instruments - stocks of companies, currencies, and assets of the commodity market.

If the previous markets during the period of soft monetary policy of the World Central Banks, there was a wide interest in cryptocurrencies, the value of which was actively accelerated by speculative sentiments of the market participants due to the lack of volatility in the assets of traditional markets, and recently, investors are clearly reluctant to activate in the current conditions of uncertainty. The global attractiveness of cryptocurrencies, as shown by previous events, was supported not only by speculative interest, but also by the weakness of the US dollar, a decline in interest in gold - assets that do not generate interest income, and wide demand for stocks of companies. But with the beginning of this year, the smooth escalation of the US-China trade confrontation forced investors to "shift" from risky assets, including cryptocurrencies to protective ones, among which the first place was occupied by government bonds of economically developed countries.

However, despite the local decline in widespread interest in these financial instruments, we expect that their active use will continue at present, primarily as instruments for hedging the risks of transactions in traditional assets. For example, one can highlight the importance of buying Bitcoin when hedging deals in stocks of US companies included in the S & P500 broad market index. In the past few months, some similar dynamics of this cryptocurrency and the S & P500 index manifested itself clearly and helped players in US stocks insure their financial risks.

Let's go back to the possible trends in the cryptocurrency market in the near future. In our opinion, the suspended situation in the negotiations between Washington and Beijing on trade, the still remaining strong positions of the US dollar until the Fed's monetary policy meeting this month will restrain investor interest in second-level cryptocurrencies such as Litecoine and Ethereum. We expect continued limited decline to continue, or, at best, until the meeting of the Federal Reserve on consolidation rates near local minimums. Although in the dynamics of Bitcoin, we assume some revival upward due to its attractiveness as a hedging instrument.

Technical picture and trading ideas:

We expect that the Bitcoin / USD pair in the short-term will remain in the range of 9295.50-10900.00 in the wake of expectations of the news from the fields of the trade war between the United States and China, as well as the Fed's final monetary policy decision. We believe that a price reduction below $ 10277.60, the pair will open the way for a local decline to 9295.50.

In our opinion, the Litecoin / USD pair, having failed to increase above the level of 70.50, will be adjusted downward first to 64.00, and then to 61.66. But from a technical point of view, it is necessary to overcome the level of 60.00.

The Ethereum / USD pair also has the potential for a local decline to 164.80 if it falls below 176.35. We believe that, like the two previous cryptocurrency pairs, it will remain in the short-term in the lateral range 164.80-182.50.

analytics5d7653f64f8fa.png

analytics5d76542b7aa45.png

analytics5d76549aed156.png

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

Canadian dollar in panic: USD/CAD on the verge of collapse

analytics5d76e9d0be534.jpg

The beginning of the current week was not favorable for the Canadian dollar: the USD/CAD pair plunged against the background of not too positive data from the US and Canada. Labor market reports from these states have sharply pulled down Canada's currency.

The publication of the US Employment Report last Friday slightly weighed on the US currency. However, the dollar eventually managed to recoup the losses. The situation with the Canadian dollar is more complicated, analysts say. Despite the creation of a sufficient number of jobs in Canada (81 thousand), the loonie was unable to hold on to its positions.

According to analysts, the results of this month became the second most powerful in 2019 and some of the best over the past five years. They confirm the neutral position of the regulator. At a recent meeting, the Bank of Canada announced the desirability of ongoing monetary stimulus. At the moment, it will remain at the same level, the central bank of Canada emphasized. At the same time, the leadership of Canada recognizes that the escalation of the trade conflict between the United States and China significantly affects the economy of the state, and this effect cannot be called positive. Authorities allow easing monetary policy, but not in the near future.

According to analysts' forecasts, we should expect further weakening of the USD/CAD pair and potential testing of the mark below 1.3155. Currently, the Canadian currency is trading at 1.3157–1.3162. This week, the pair's sharp fall and the breakdown of the 1.2905 area are not ruled out. In the event of a negative scenario, a breakdown of the lower boundary of the channel and a continuation of the fall below the level of 1.2545 are possible. However, in the event of a positive development of events, the pair's growth and closing above the level of 1.3495 are not excluded.

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

GBP/USD. Johnson's Plan B and the positive Irish meeting

The news background regarding Brexit's prospects is changing with kaleidoscopic speed. Before the pound could react to the verdict of the House of Lords, traders again came under pressure from the rhetoric of the French foreign minister, which cooled GBP/USD bulls. Today, the fundamental background again contributes to the British currency's growth - already thanks to statements by Boris Johnson. Although all the fundamental factors listed above have a "short shelf life", it is necessary to dwell on each of them in more detail.

Last Friday night, the House of Lords of the British Parliament approved a bill requiring Johnson's cabinet to ask Brussels for another postponement of the country's exit from the EU. It is noteworthy that, contrary to various assumptions, this bill was approved in the final third reading without a vote - members of the Upper House of Parliament did not introduce a single (!) amendment to it. Although some political analysts have warned that the House of Lords and the House of Commons can "play table tennis" making endless changes and sending each other a draft of this law. But the Lords showed amazing unity in this matter, as it managed to do so in just a few days. Now the bill has gone through all stages of parliamentary consideration, and will gain the force of law after the queen signs it (it is expected that this will happen today or tomorrow).

analytics5d76e7d677614.jpg

But the optimism of the traders was offset by the comments of the head of the French Ministry of Foreign Affairs, who questioned the feasibility of another Brexit delay. According to him, the European Union is not going to grant Britain a deferment "every three months", especially amid the impasse of the British parliament. Jean-Yves Le Drian recalled that the House of Commons opposed both the "hard" scenario and the deal approved by the EU countries.

This thought was picked up by Boris Johnson. He in his own way interpreted the above law, approved by the House of Lords. According to him, the law will only matter if London is offered (!) a delay, but if such a proposal does not follow, then Johnson will not be able to fulfill the requirements of the adopted law. In addition, as British journalists found out, the prime minister intends to convince the EU not to agree to a new delay by sending a corresponding appeal to Brussels. A harsh statement by the French foreign minister was evidence that this scenario could well come true. Paris even declared that it could veto the EU's decision to extend the negotiation process - if London doesn't present "convincing arguments regarding the expediency of this delay".

In addition, according to analysts, Boris Johnson can use the current situation to his advantage, provoking the Parliament to dismiss him, calling for an early election. Let me remind you that last week the prime minister initiated this issue, however, MPs did not support his idea of re-election. The members of the House of Commons primarily wanted to legislatively block the hard Brexit on October 31, and then consider the issue of early elections. But if Johnson's team makes deferring Brexit legally impossible, the House of Commons will have no choice but to re-election. The implementation of this scenario will be the victory of the current prime minister, given the current rating of the Conservative Party. In this case, Johnson will only strengthen his position in Parliament, which will allow him to realize his political ideas - including regarding the prospects of Brexit.

Thus, a possible retaliatory move by Boris Johnson did not make it possible for the British currency to continue an offensive throughout the market. The GBP/USD pair fell to 1.2230 today in the morning, with the clear intention of entering the area of the 21st figure. But the pair turned sharply and jumped by almost 150 points at the beginning of the US session. Market participants reacted to the outcome of the meeting of the prime ministers of Britain and Ireland. And although there are still no definite results, the rhetoric of the parties inspired GBP/USD bulls - traders again had a ghostly hope for a deal before October 31.

However, this hope is too illusory, and the reaction of traders is too emotional. Boris Johnson once again stated that he wants to achieve a deal and believes that this can be done before October 18. He called the hard Brexit version a "failure", although he did not rule out its implementation. The British prime minister also assured that under no circumstances would London allow a tight border between Ireland and Northern Ireland. Summarizing the outcome of the meeting, Johnson noted that he and his Irish colleague had found "common ground on a number of issues." At the same time, politicians unanimously stated that a breakthrough in the negotiations has not yet occurred and significant differences remain.

analytics5d76e7e9e1864.jpg

Let's face it - this is a rather dubious reason for corrective growth. In addition, it is worth noting that today, members of the House of Commons will re-vote for holding early elections (the discussion and voting process can keep going until late in the evening or at night). The results of this vote can provoke strong volatility for the pair, therefore, it is now impractical to open trading positions in one of the parties. By the way, parliamentary speaker John Bercow has already announced that he will resign if Parliament votes for re-election. This fact exerted short-term pressure on the pair, but then the bulls regained their positions.

In my opinion, the corrective growth of the pair will be short-term. London and Brussels are still at different poles regarding the prospects for backstop and other equally important Brexit issues. Today's "constructive meeting" of Johnson and Varadkar is unlikely to have any far-reaching political consequences. As soon as this fact is voiced by one of the EU leaders, the market will recall the "plan B" of the British prime minister, who intends to legally circumvent the action of the Brexit deferment law. In this case, the pound will again be under significant pressure, and will return to the middle of the 21st figure against the dollar.

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

GBP/USD. September 9. Results of the day. British Parliament is not afraid of a re-election, but wants guarantees to prevent

4-hour timeframe

analytics5d76e3ef2577f.png

Amplitude of the last 5 days (high-low): 139p - 147p - 176p - 144p - 65p.

Average volatility over the past 5 days: 134p (high).

In London, the last session of Parliament kicked off before its forced leave for five weeks by Boris Johnson. Of the interesting moments of the meeting, it can already be noted that Parliament speaker John Bercow announced his resignation if Parliament approves early elections today (voting will take place a little later). Otherwise, he will leave his post on October 31. According to insider information from the Parliament, the Opposition parties have already decided not to support the government's proposal for early elections, as for the first time. According to Labour and Opposition Leader Jeremy Corbyn, the government must guarantee the impossibility of a "hard" Brexit BEFORE the re-election. The position of Boris Johnson in this matter is clear and obvious. He understands that the current composition of the Parliament will put "sticks in the wheels" to the last. Even if the prime minister tries to circumvent the decision of the Parliament and ask the EU not to grant a postponement for Brexit, MPs can initiate the opening of a criminal case against Johnson for disobeying British law. Thus, Johnson wants to form a new Parliament, hoping to get the majority of the seats in it, which will allow him to make decisions almost solely through the members of his party. Boris Johnson has already begun to implement internal cleansing - 21 party members have left its ranks. It is clear that the opposition will not approve early elections, as this means additional chances for the Johnson government to still implement Brexit without an agreement with the European Union until October 31. In general, today we will witness the final session of Parliament before the holidays and, possibly, even re-elections.

Meanwhile, macroeconomic reports from the UK pleased traders. In July, GDP grew by 0.3% m/m, and industrial production by 0.1% m/m. Unfortunately, production fell by 0.9% in annual terms. However, the pound sterling is still growing on September 9, either responding to generally good news, or to traders' expectations that MPs will not accept Johnson's proposal for re-election. Most likely, based on both of these factors. We state the fact: the mood among traders now remains "bullish" due to the events of last week, or rather, the defeats of Boris Johnson in the Parliament, because of which the likelihood of a hard Brexit has significantly decreased. However, any victory of Boris Johnson will again bring the country closer to leaving the EU on October 31, and the pound to a new fall against the US currency.

Trading recommendations:

The GBP/USD currency pair, after a slight correction, resumed the upward movement, which is still completely substantiated fundamentally. Thus, in the coming hours, it is recommended to continue to trade on the rise while aiming for the first resistance level of 1.2437. Further dynamics of the pound/dollar pair will depend on the results of the vote on Boris Johnson's proposal to dissolve the Parliament and form a new composition.

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

Explanation of the illustration:

Ichimoku indicator:

Tenkan-sen is the red line.

Kijun-sen is the blue line.

Senkou Span A - light brown dotted line.

Senkou Span B - light purple dashed line.

Chikou Span - green line.

Bollinger Bands Indicator:

3 yellow lines.

MACD indicator:

Red line and bar graph with white bars in the indicator window.

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