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5 important events this week will bring us!

More at: http://bit.ly/37hp8Kz

18.11.2019

Monetary policy meeting minutes by the RBA (Tue, 02:30 MT time (00:30 GMT)) – If the RBA is positive concerning the current economic outlook, the AUD will rise.

Canadian CPI growth (Wed, 15:30 MT time (13:30 GMT)) – According to the forecasts, the inflation rate will advance by 1.9%. Higher-than-expected figures will boost the Canadian dollar.

FOMC meeting minutes (Wed, 21:00 MT time (19:00 GMT)) – If the release contains more hints concerning the future easing, the USD will fall.

ECB monetary policy meeting accounts (Thu, 14:30 MT time (12:30 GMT)) – If the European central bank is hawkish in its report, the EUR will be supported.

Canadian core retail sales (Fri, 15:30 MT time (13:30 GMT)) – Analysts expect the indicator to remain at the same level. If the actual level is higher, the Canadian dollar will go up.

Hot news:

The British pound has risen on the news that the Brexit party has stood down from the 43 additional seats in the Parliament. Previously, it rejected to contest the seats which belong to the Conservative party.

According to the comments by the ECB vice president Luis de Guindos, the recession in the Eurozone seems to be an unlikely event.

The American and Chinese trade negotiators held constructive discussions on Saturday to reach the phase one trade deal. It resulted in the risk-on sentiment in the markets.

Market updates on November 19

Check the charts: http://bit.ly/33248Ej

19.11.2019

Key events ahead:

Speech by the FOMC member John Williams – 16:00 MT time (14:00 GMT)

During the Asian trading session, the Reserve bank of Australia released the monetary policy meeting minutes. The record had a dovish tone. The regulator is ready for further easing if needed. The report pulled the aussie down to the support at 0.6784 on H4. The further focus for the pair will be on the updates on the US-China trade deal. On the 4-hour chart, AUD/USD has bounced off the 0.6784 level and has risen towards the 0.6810 resistance level. If this level is broken, the next resistance will lie at 0.6819. If the aussie weakens, we expect the retest of the 0.6784 level. The next support will lie at 0.6776.

According to the anonymous source, China is still unhappy with the progress over the trade deal with the US. We will continue to follow the situation to determine the moves of USD/JPY. At the moment of writing the pair has been testing the 100-period SMA on H4 at 108.78. The breakout of this level will increase the chance of a retest of the 108.86 handle. If the risk sentiment is on, the pair will rise above the 50-period SMA to the 108.98 level. The downward momentum will be limited by the 108.59 level. Further support levels will lie at 108.51 and 108.42.

EUR/USD has been trading between the 100-period and 200-period SMA on H4. If the USD gets stronger, the 1.1063 level will be broken and the next support will lie at 1.1054. From the upside, the breakout of the 1.1083 level will push bulls further to the 1.1091 level.

Market updates on November 20

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20.11.2019

Key events ahead:

Chinese Loan Prime Rate 1Y – 03:30 MT time (01:30 GMT)

Canadian Inflation Rate YoY – 15:30 MT time (13:30 GMT)

American FOMC Minutes – 21:00 MT time (19:00)

The US dollar has been rising against the Chinese yuan since Monday and seems to continue the same direction today. On the H1 chart of USDCNH, the 50-period Moving Average crossed the 100-period bottom-up yesterday, and the Parabolic SAR confirms the current uptrend. The resistance levels of 7.0360 and 7.0512 will be checking this scenario. However, the Chinese officials are reported to have expressed today once again their discontent with the US meddling into the Hong-Kong affairs. This should create additional volatility and pressure down on the USDCNH in the context of endless obstacles in reaching a trade truce between the US and China. For the bearish direction, the support levels of 7.0320, 7.0230 and 7.0150 may be placed.

The CAD started the day with the correction course. On the H1 chart of CADJPY, it has dropped to the support level of 81.64, which was touched last Thursday. After that, the price showed a slight upswing. At the same time, the RSI crossed the 30% level bottom-up. This may be a good signal of the bullish takeover. For the upward direction, the resistance levels may be placed at 81.83 and the range of 82.40-82.50. The downtrend scenario may have 81.64 and 81.50 as the support levels.

Against the Swiss franc, the US dollar has started weakening on Tuesday. On the H1 chart of USDCHF, the price touched the 0.9918 high, marking the local resistance level, and has been dropping since then. The bears need to watch the MACD and Awesome Oscillator crossing the zero line. Once it is done, the USD will likely aim at the support levels of 0.9895 and 0.9877.

Market updates on November 21

More at: http://bit.ly/2KKIVbs

21.11.2019

Key events ahead:

ECB monetary policy meeting accounts – 14:30 MT time (12:30 GMT)

Flash consumer confidence for the Eurozone – 17:00 MT time (15:00 GMT)

EUR/USD has been targeting the 1.1090 level on H4. If this level is broken, the next resistance will be placed at 1.1103. From the downside, if the pair falls below the 100-period SMA at 1.1072, the next support level will lie at 1.1063. After that the pair will fall as far as the 1.1056 level will be reached. RSI oscillator is about to enter the overbought zone. If it leaves this zone, it may provide us a selling opportunity.

USD/JPY is having a volatile session. During the Asian trading session, the pair has fallen towards the 108.28 level but managed to recover towards the 108.6 level. If this level is broken, the next resistance will lie at 108.7. From the downside, if the Japanese yen strengthens, the pair will slide towards the 108.46 level. The next support will be placed at 108.36.

USD/CNH has been declining towards the ascending trend line on H4. If the risk sentiment in the market increases, the pair will fall to the 7.0314 level. The next support will be placed at 7.0230. From the upside, if the pair retests the 7.0436 level, the next resistance will lie at 7.0525.

Market updates on November 22

More at: http://bit.ly/33kq11v

22.11.2019

Key events ahead

British CIPS Manufacturing PMI Flash – 11:30 MT time (09:30 GMT)

Canadian Monthly Retails Sales – 15:30 MT time (13:30 GMT)

On the H1 chart of EURUSD, the price dropped to the level of 1.1056 yesterday evening, then went up into a correction. If the next Parabolic indicator’s mark completes as the third in the row in the upward direction that will reconfirm the bullish trend. In this case, the bulls may have 1.1081 and 1.1092 as the resistance levels. The bears may locate the support levels at 1.1062 and 1.1056.EURUSDH1.png

On the H1 chart of USDCAD, the Stochastic Indicator shows the fast line crossing the slow line upside down within the oversold zone. That means that the price will be soon under pressure down. If the downward movement breaks through the local support levels of 1.3271 and 1.3263, it will have the next target at 1.3202. The resistance levels may be located at 1.3288 and 1.3324.USDCADH1.png

On the H1 chart of GBPUSD, the price shows a sideways movement above the support level of 1.2893. If the British economic data to be released today is positive, the GBP may gain strength and aim at the resistance levels of 1.2932 and 1.2964. Otherwise, an additional support level may be placed at 1.2873.

5 important events this week will bring us

More at: http://bit.ly/2Den2xa

25.11.2019

American Quarterly GDP Growth Rate 2nd Est, Consumer Spending data, Durable Goods Orders (Wed, 15:30 MT time (13:30 GMT)) – U. S. consumer spending data is due Wednesday, along with GDP, jobless claims and durable goods. The forecast for the quarterly GDP growth rate is 1.9%. Higher-than-expected index values will boost the US dollar.

European Business Confidence index (Thu, 12:00 MT time (10:00 GMT)) – The previous level of the indicator was -0.19, while the expectation for the coming one is -0.24. The euro will gain strength if the actual indicator is higher than the forecast.

British GfK Consumer Confidence (Fri, 02:01 MT time (00:01 GMT)) – The forecast for the British Consumer Confidence index is -14. If the actual one outperforms that, the British Pound will be supported.

Japanese Consumer Confidence (Fri, 07:00 MT time (05:00 GMT)) – The Japanese Consumer Confidence index is expected to show a slightly lower 35.4 value against the previous 36.2. If the indicator outperforms the prognosis, the Japanese yen will rise.

Canadian Monthly GDP Growth Rate (Fri, 15:30 MT time (13:30 GMT)) – The analysts expect the monthly GDP growth rate in Canada to show a slightly better 0.2% against the previous 0.1%. If the actual level is higher than the forecast, the Canadian dollar will go up.

Hot news:

Boris Johnson presented his election manifesto to the British Parliament on Sunday. He advised it is a “radical agenda” for the United Kingdom, and promised to present the Brexit agreement to the Parliament until December 25.

China is strengthening intellectual property rights protection, as was revealed on Sunday. The equity markets in Asia have already shown a rise partly due to this advancement within the US-China trade talks.

Market updates on November 28

More at: http://bit.ly/2P5ngwj

28.11.2019

Key events ahead:

European Business Confidence – 12:00 MT time (10:00 GMT)

German Yearly Preliminary Inflation Rate – 15:00 MT time (13:00 GMT)

On the H1 chart of EURUSD, the euro has been in a sideways movement against the US dollar until recently. The RSI and Stochastic Indicators entered the overbought zones when the price reached 1.1014. Once the RSI crosses the 70% upside-down and the Stochastic’s fast line crosses the slow one the same manner, it may be a good moment to open shorts. The supports may be located at 1.1004 and 1.0994 for this scenario. The resistance level may be located at 1.1023.EURUSDH1.png

On the H1 chart of GBPUSD, the price reached a 1.2947 high, forming the local resistance level last night. Then it bounced down to 1.2922 and is now in a sideways movement. The MACD is indicating that the market is in the overbought state. That means the price is very likely to decline soon. For this scenario, the support levels may be located at 1.2922, 1.2872 and 1.2833. The bulls may have an additional resistance level of 1.2963.GBPUSDH1.png

On the H4 chart of EURGBP, the MACD is indicating the oversold state of the market. At the same time, the Stochastic Indicator’s fast line has already crossed the slow one bottom-up within the oversold zone. Altogether, these are the signs that the price is likely to move upwards soon. In this case, the resistance levels may be located at 0.8572 and 0.8602. The support may be placed at 0.8495.

Market updates on November 29

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29.11.2019

Key events ahead:

Canadian GDP growth rate – 15:30 MT time

The Asian trading session did not see any significant movers today after the Thanksgiving holiday in the US. We will be awaiting updates on the US-China trade talks. USD/JPY has been consolidating below the 109.55 level on H4. In case of positive news, this level will be broken and the next resistance will be placed at 109.69. If the risk sentiment is off, the pair will fall as far as the 109.28 level will be reached. After the breakout, bears will pay attention to the 109.08 level. RSI oscillator is in the overbought zone. If it leaves this zone, we may open a short position.

The Canadian dollar is awaiting the release of Canada’s GDP growth. According to the forecasts, it will advance by 0.1%. At the moment of writing, USD/CAD has been trading right above the 50-period SMA. The price formed the symmetric triangle pattern on the chart. The pair has already tested the 1.3288 resistance level. In case of a breakout, the next resistance will lie at 1.3298. If the indicator is higher than the forecast, the pair will break the lower border of the symmetrical triangle and test the 1.3269 level. If it is broken, the next support in bear’s target will lie at 1.3254.

CAD/JPY has been trying to overcome the 82.45 resistance level on H4. Bulls need to break this level to continue the upward movement towards the 82.52 and 82.57 levels. Key support levels are placed at 82.28 and 82.14.

Market updates on November 26

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26.11.2019

The euro is in the sideways movement currently. On the H1 chart of EURUSD, the support level of 1.1004 formed on Monday has been approached this morning. However, the Parabolic SAR indicates there is a potential for the upwards move. In this case, the resistance levels of 1.1020 and 1.1029 may be placed for the bulls. An additional support level may be located at 1.0988 for the bearish scenario.

The US dollar shows a potential for a decline against the Japanese yen. On the H1 chart of USDJPY, the Parabolic SAR is indicating a recently started bearish trend. The RSI has crossed the 70% upside-down at the same moment when the price bounced down from the upper line of the Bollinger Band. If the bearish move continues, it will have the support levels of 108.91 and 108.84 on its way. Otherwise, the resistance levels may be placed at 108.99 and 109.08

NZDCAD has been trading at the resistance level of 0.8547, reached this morning. The Stochastic Indicator shows the fast line crossing the slow one upside-down within the overbought zone. This means the price is very likely to continue dropping. For this scenario, the support levels of 0.8526 and 0.8510 may be placed. For the bulls, an additional resistance level may be located at 0.8563.

5 important events this week will bring us!

More at: http://bit.ly/35T0Ch7

02.12.2019

RBA rate statement (Tue, 5:30 MT time (3:30 GMT)) – The interest rate is expected to remain unchanged at 0.75%. Traders need to pay attention to the tone of the statement, as the regulator may provide hints on the possible changes to the interest rate in future. If the RBA forecasts a slash of the interest rate to the downside, the AUD will weaken.

Canadian balance of trade (Wed, 15:30 MT time (13:30 GMT)) – According to the forecasts, the deficit of the balance will shorten to -0.7 billion CAD. Higher figures will boost the Canadian dollar.

US balance of trade (Wed, 15:30 MT time (13:30 GMT)) – The deficit of trade for the United States is expected to get lower to -$49 billion. If the actual level is higher, the USD will rise.

Canadian job data (Fri, 15:30 MT time (13:30 GMT)) – Analysts anticipate the unemployment rate to increase to 5.6%. Also, the employment change will be released, although the forecasts have not been announced yet. A higher-than-expected employment change and lower-than-expected unemployment rate will support the US dollar.

American job data (Fri, 15:30 MT time (13:30 GMT)) – The US will release NFP alongside with average hourly earnings and unemployment rate. Experts anticipate the number of payrolls to advance by 180 thousand jobs, while average hourly earnings are expected to increase by 0.3% and the unemployment rate is forecast to remain at the same level of 3.6%.

Hot news:

The improvement of the Chinese manufacturing PMI (51.8 vs. 51.5 expected) during the Asian trading session boosted the risk sentiment in the market and pushed the risk-weighted assets up.

After the biggest Friday’s loss, the oil prices rebounded as Iraq announced deeper oil cuts ahead of the OPEC+ meeting on Thursday.

A fresh report on the US-China trade deal expects US President Donald Trump to hold off the implementation of tariffs on December 15. At the same time, it does not expect the deal to be reached this year.