MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Trading plan for 17/11/2017

With the start of the Asian session, the US Dollar was under pressure, though it was not easy to find a sales catalyst. EUR/USD has bounced above 1.18, USD/JPY has fallen to 112.50. But already the AUD/USD and NZD/USD have been lowered, and the declines are now deepening to 0.7560 and 0.6840, respectively. This suggests that the market is subject to strong fluctuations caused by changes in large investors' positions on the illiquid market, which results in a breach of stop-loss orders.

On Friday 17th of November, the event calendar is light in important news releases, but market participants will keep an eye on Building Permits and Housing Starts data from the US and Consumer Price Index data from Canada. Two speeches are scheduled as well. The first speech is from ECB President Mario Draghi in the morning and second from FOMC Member John C. Williams in the evening.

GBP/USD analysis for 17/11/2017:

The Retail Sales data from the UK were better than expected as they jumped 0.3% last month while the market participants expected only a 0.1% increase. The released data slightly surprised by low expectations, which should be treated as a bitterness of September estimates. The Bank of England meeting did not have any impact on the currency market. Mark Carney, the BOE governor, stressed the need to increase the credibility and transparency of the bank. Carney also decided to maintain his position on the future Monetary Policy Committee's move to further increase interest rates in the execution of the underlying scenario. Today the UK economy will not publish any data, but it is worth to watch the daily and weekly close anyway.

Let's now take a look at the GBP/USD technical picture at the H4 time frame. The market keeps trading inside of a congestion zone between the levels of 1.3040 - 1.3342. Those are two the most important levels any only a clear breakout above or below either of them will show the further trend direction.

analytics5a0e96fe39303.jpg

Market Snapshot: SPY bounces back to the resistance

The price of SPY index (SP500 ETF) has invalidated the sequence of lower highs, that might have indicated the possibility of a trend reversal or correction, and bounced back to the resistance zone. No new high was made yet but the momentum looks strong and the market did not reach the overbought levels yet. The next resistance is seen at the level of 259.32.

analytics5a0e9708dbb2e.jpg

Market Snapshot: USD/JPY fails to break out higher

The price of USD/JPY has tried to rally above the technical resistance at the level of 113.25, but failed and returned to the corrective downtrend. The price is moving inside of a channel and is about to test the technical support at the level of 112.27.

analytics5a0e9713aaf47.jpg

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