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 09/02/2018

During the American session, VIX came again over around thirty, thus moving away from the long-term average located ten points lower. A clear outflow of capital is also observed in Tokyo, where Nikkei, losing 2.3%, records the worst week for exactly two years. The same situation is being observed in China, where Shanghai Composite had lost 5.2% overnight.

On Friday, February 9th, the event calendar is not so busy in important data releases, but the market participants should keep an eye on Industrial Production and Manufacturing Production data from the UK, Unemployment Rate data form Switzerland, and Unemployment Rate and Employment Change from Canada.

EUR/USD analysis for 09/02/2018:

The market is still trying to find a balance point after a volatility jump at the beginning of the week and one of those days when panic is taking its toll. Wall Street has another session with a fall of 4.0%, and it carries the Asian market behind. The currency market is a bit calmer, although the fear finally reached the emerging markets.

Let's now take a look at the EUR/USD technical picture at the H4 time frame. EUR/USD slowed the discount around 200-period moving average at 1.2210, however, the upward move should be treated only as a correction. The resistance is the neckline of the double top formation at 1.2335. The base scenario is the continuation of the discount towards 1.2130, where the 50% Fibo retracement is the range resulting from a double top. Moreover, we have the end of the week, which usually encourages closing the position.

analytics5a7d5aa1edc1e.jpg

Market Snapshot: SPY drops again

The price of SPY (SP500 ETF) has dropped to the previous support at the level of 258.47 and broken it. The momentum is still pointing to the downside, and the next technical support is seen at the level of 254.50. The nearest important technical resistance is seen at the level of 260.79.

analytics5a7d5aab8f0cd.jpg

Market Snapshot: DAX made a new local low as well

The price of German DAX index has reversed from the trendline resistance around the level of 12,648, has broken the technical support at the level of 12,242 and now is heading lower towards the level of 12,061. The nearest resistnace is seen at the level of 12,503.

analytics5a7d5ab2bf10b.jpg

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