₦airaland Forum

Technical analysis for Gold for November 27, 2018

Gold price is slowly and steadily turning lower and away from the resistance area and major trend change level of $1,243.50 after topping around $1,230. Gold price has given some bearish divergence signs and according to our plan and expectations is turning lower.

https://forex-images.ifxdb.com/userfiles/20181127/analytics5bfce9a46579f.png

Blue rectnagle -major resistance

Red rectangle - short-term resistance

Green line - major trend line support

Gold price looks like it has finished the bounce from $1,196 at $1,230. Price should at least pull back towards $1,218 if not $1,210. As I said in previous posts I remain bearish below $1,243.50. If we see price break below the green trend line then the chances of moving below $1,180 will increase dramatically. If price holds above $1,210-$1,200 area then we could see another strong bounce towards $1,240. For now we remain bearish as the bounce is over and we are due for a pull back if not a new downward trend to new lows.

Read more: https://www.instaforex.com/forex_analysis/128987

GBP / USD Forecast for November 26, 2018

GBP / USD

The trading volume on the British pound on Friday was the smallest in the last 3 months. Under the general pressure of the dollar (USDH 0.46%) and in anticipation of the decision of the EU emergency meeting on Brexit, the pound lost 64 points. On Sunday, the EU countries unanimously adopted the Brexit plan. In England, the opposition,in particular the Labor Party, spoke out against voting on this draft in Parliament and suggested either changing the text of the treaty or holding a second Brexit referendum.

On the other hand, EU representatives replied that there would be no second agreement on the UK leaving the EU, that is, under the most extreme scenario, England would leave the EU without a deal. It seems to us that the treaty will still be ratified until December 25 as required. But we do not expect significant growth of the pound in this case, since in fact, the United Kingdom will still acquire small restrictions. Probably, there will be no growth at all - as the working out of the exchange phenomenon of selling on the facts.

In the current situation, we are waiting for the price to overcome the support of the price channel line on the daily timeframe at about 1.2777. After that, we are waiting for the further decline of the pound to the underlying line in the 1.2560 area.

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Forecast for USD / JPY for November 21, 2018

USD / JPY In the last yen review of the 19th, we considered the option of a false breakdown by the Krusenstern line on a daily scale. Such a false breakdown really took place, but with a delay of two days. And yesterday, the yen rose by 21 points against the fall of the US stock market by 1.82%. The optimism and perseverance of investors are explained by the fact that the fall was not systemic due to the collapse of several technology companies which pulled the market down. Today, the Chinese index China A50 is growing at 0.12%. We have to wait for the growing trend of the yen to consolidate. The first such sign will be the departure of the price above the nearest line of the price channel on the daily chart. There are only 10 points left.

https://forex-images.ifxdb.com/userfiles/20181121/analytics5bf4dff6e6431.png

On the H4 chart, the Marlin oscillator is growing. The price tends to the Krusenstern line to the area of 113.65. With the overcoming of resistance, the second goal of 115.03 is opened - resistance of the price channel line on the daily chart.

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Indicator analysis. Daily review for November 19, 2018 for the pair GBP / USD

The price on Friday rally down worked out the top. Bears were fixing profits, and the market broke off the support line 1.1248 (red thick line). On Monday, there is no strong calendar news. Most likely, the bears once again try to resume movement down.

Trend analysis (Fig. 1).

https://charts.mql5.com/19/678/gbpusd-d1-instaforex-companies-group.png

On Monday, the price will move downward with the first target 1.2751 - the support line (red thick line).

Fig. 1 (daily schedule).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - neutral;

- volumes - down;

- candlestick analysis is neutral;

- trend analysis - up;

- Bollinger lines - up;

- weekly schedule - up.

General conclusion:

On Monday, the price will move downward with the first target 1.2751 - the support line (red thick line).

Read more: https://www.instaforex.com/forex_analysis/218907

InstaForex wins two prestigious awards at once

InstaForex was recognized as the best forex platform for trading cryptocurrency according to the UK Forex Awards, and the best ECN broker in Asia according to the International Business Magazine.

The competent jury carefully studied the activities of each company. And we are especially proud that experts have appreciated our platform for trading cryptocurrencies, the number of cryptocurrencies available, trading conditions, and popularity among traders. We are pleased to receive these awards and are grateful to our partners and customers for choosing our company.

InstaForex has been the best broker in Asia providing high-quality online trading services for many years.

https://forex-images.ifxdb.com/company_news/userfiles/instaforex_award_imgs_510x350_en3.jpg

GBP / USD Forecast for November 16, 2018

GBP / USD

The tragedy of the British pound on Thursday broke out rapidly. Brexit Minister Dominic Raab and Northern Ireland Affairs Sheiles Vara, resigned due to disagreement with the Prime Minister's position on the EU deal. In turn, Teresa May confirmed her intention to leave the EU no later than March 29, 2019. The data on October retail sales were pessimistic: -0.5% against expectations of a 0.2% growth after the September decline of -0.4%. In the US, retail sales showed an increase of 0.8%. As a result, the pound sterling collapsed by 214 points.

https://forex-images.ifxdb.com/userfiles/20181116/analytics5bee4822991dc.png

On the daily scale chart, the price went under the trend line of the price channel. In both charts - daily and H4, there is not a single sign for price reversal up except that convergence with the Marlin oscillator on the four-hour chart. But in this case, the pattern can be taken as an artifact as a tool's reaction to previous strong movements.

The volume of industrial production in the US in October today may show an increase of 0.2%. We ook forward to further decline of the pound to support the underlying trend line in the area of 1.2580.

Read more: https://www.instaforex.eu/forex_analysis/218803

Fundamental Analysis of AUD/USD for November 15, 2018

AUD/USD has been quite impressive with the recent bullish gains after the bounce off the 0.7150-0.7200 support area with a daily close. Despite recent positive economic reports from the US, AUD gained more momentum in the market due to upbeat employment data today.

Today AUD Employment Change report was published with a significant increase to 32.8k from the previous figure of 7.8k which was expected to be at 19.9k and Unemployment Report was unchanged at 5.0% which was expected to increase to 5.1%. Moreover, RBA Assistant Governor Debelle spoke today about the housing lending issue. Besides, he addressed the repayment problems of the borrowers, so he suggested certain policies to reduce future shocks due to lending and monetary policy issues.

On the other hand, recently US CPI report was published with an increase to 0.3% as expected from the previous value of 0.1% and Core CPI also increased to 0.2% as expected from the previous value of 0.1%. The readings were in line with expectations, however USD failed to gain momentum which indicates temporary weakness of the US currency. The market-moving event today is FED Chair Powell's speech which is expected to signal another rate hike this year. Thus, USD could find support from Powell's remarks before the weekend.

Meanwhile, AUD is quite strong fundamentally and technically which might lead to certain gains in the pair, but there are still chances of USD to regain momentum as Powell's speech may contain the hawkish remarks which will encourage dollar bulls. If the US provides strong statistics in the coming days, further indecision and correction may persist in the market for longer.

Otherwise, AUD may set a strong impulsive bullish trend in the future. Now let us look at the technical view. The price is currently pushing higher towards 0.7300 from where it has a probability to push lower towards 0.7150-0.7200 area.

Though the recent price structure is in a range, further bullish pressure will persist with a target towards 0.7450-0.7500 resistance area in the future as the price breaks above 0.7300 with a daily close. As the price remains above 0.7150-0.7200 area, the bullish bias is expected to continue.

SUPPORT: 0.7150, 0.7200

RESISTANCE: 0.7300, 0.7450, 0.7500

BIAS: BULLISH

MOMENTUM: IMPULSIVE

https://forex-images.ifxdb.com/userfiles/20181115/analytics5bed1b365c561.png

Read more: https://www.instaforex.eu/forex_analysis/128036

Forecast for EUR / USD for November 14, 2018

EUR / USD

On Tuesday, the Eurozone's ZEW business sentiment index showed a deterioration in November from -19.4 to -22.0, dropping to the level of July 2012. But thanks to the positive news from the camp of Brexit negotiators and the partial closing of positions, the euro grew by 74 points.

Today, The GDP of Germany for the 3rd quarter -0.3% forecast will be released. The euro area GDP for the same period in the 2nd estimate s expected to remain unchanged (0.2% vs. 0.4% in the 2nd quarter). Industrial production in the eurozone in September is expected to decline by 0.4%.

In the US, the base CPI for October is expected to increase by 0.2%.The overall CPI increase by 0.3%.On Thursday, it is expected to explosive growth in US retail data for October (0.6%). As a result, we expect a price reduction to 1.1200. Preliminary growth of the euro to 1.1340 (to the Krusenstern line on H4) ) It is possible to follow the 12th.

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The forecast for AUD / USDY for November 13, 2018

AUD / USD

The Australian dollar has confirmed the parameters of the updated price channel with a force deployed from its upper limit. Under the pressure of the US dollar yesterday, the Australian lost 53 points. But today, in the Asian session, it has almost completely won back. The indicator was a daily balance scale indicator line.

The Australian dollar currently feels in a stronger position than European currencies as the main chart (daily) price is above all indicator lines and the Marlin oscillator remains in the zone of positive numbers. The price may take advantage of the confusion on European sites and complete the quality correction to the Krusenstern line on H4 - 0.7235. But after the correction, we again expect a decline to support the trend line at daily 0.7140.

https://forex-images.ifxdb.com/userfiles/20181113/analytics5bea55662652e.png

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Technical analysis: Intraday Level For EUR/USD, Nov 12, 2018

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When the European market opens, some Economic Data will be released such as Italian Industrial Production m/m. Today, the US will not release any Economic Data, so amid the reports, the EUR/USD pair will move in a low to medium volatility during this day. TODAY'S TECHNICAL LEVEL: Breakout BUY Level: 1.1385. Strong Resistance:1.1378. Original Resistance: 1.1366. Inner Sell Area: 1.1354. Target Inner Area: 1.1326. Inner Buy Area: 1.1298. Original Support: 1.1286. Strong Support: 1.1274. Breakout SELL Level: 1.1267.Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or Investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/127656

Miss Insta Asia 2018 in Moscow

In the midst of golden autumn InstaForex held a beautiful celebration – an award ceremony to honor the Miss Insta Asia 2018 contest winners. The long-awaited annual ceremony took place on November 2 in Moscow.

That was a triumph of beauty, glamour, love of life and optimism. Apart from beauty, the winners impressed the audience with their talents and hobbies. This year participants from 20 countries joined the contest. All the ladies turned out to be creative and ambitious, fascinated with various hobbies such as photography, professional makeup, cooking, and embroidery. Five winners from Russia and Ukraine are eager to consolidate their success as forex traders and prefer to manage their cash prizes on their own. InstaForex is honored and delighted to have the charming contestants as its customers. The Company intends to assist the finalists to improve their skills and support their start-ups. The celebration has passed, but we are already anticipating the next one, preparation is on!

The registration of new participants has already begun. It is going to be a new season, a new contest, and a new ceremony. Moreover, it will be the 10th anniversary of the contest, so, surprises are on the way! In 2019, the prize pool will be $45,000.

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Forecast for EUR / USD for November 9, 2018

EUR / USD

In the first half of yesterday, the euro fell by 30 points under pressure from retail sales data. There is also another 30 points lost on Wednesday (0.0% in September) and a weak trade balance of Germany and France on Thursday (17.6 billion from Germany against the forecast of 18 2 billion and -5.7 billion euros from France). This is according to the release of the Fed statement on the results of the Euro session. The statement noted the acceleration of economic growth and employment rates.

https://forex-images.ifxdb.com/userfiles/20181109/analytics5be5121e74255.png

On the four-hour chart, the price was fixed under the lines of balance (red) and the trend Krusenstern. Now, looking on the daily and four-hour charts clearly pronounced downward trend. Congressional elections have passed, the hype has stopped, both parties welcome a strong dollar. The Republican - as an effect and an instrument of economic expansion and Democratic - as the best condition for expanding banking influence in the world. Next week, the Treasury is placing $ 84 billion in short-term debt (bills and bonds up to 1 year). And in a week, we are waiting for a new wave of placement of medium and long-term securities. So, we are waiting for the euro at the level of 1.1300. After fixing another round target, 1.1200 opens under it.

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GBP / USD Forecast for November 8, 2018

Theresa May, the British Prime Minister, gathered senior ministers last night to discuss the only unresolved issue in the Brexit-Irish border deal. But now, this formulation sounds somewhat softer - control over goods crossing the Irish border. According to rumors, the result can be achieved with Brussels today. But if today doesn't work out, then next week.

The price has almost worked out the resistance of the embedded trend wide price channel. It lingered at the Fibonacci level of 76.4% while keeping the daily balance line.

https://forex-images.ifxdb.com/userfiles/20181108/analytics5be3c8357bfb3.png

On the four-hour chart, the Marlin oscillator signal line is still in the zone of positive numbers - in the zone of growth trend. To change this trend is still far enough. And amid positive expectations for the London-Brussels deal, the change in trend may not take place even in the medium term. If the price fixes above 1.3178 while maintaining progress in the negotiations, the price may rise to the Fibonacci level by 110.0% to the price of 1.3314.

https://forex-images.ifxdb.com/userfiles/20181108/analytics5be3c84462aaa.png

But the breakdown of negotiations occurred more than once. Also, large British brokers are still relocating to the Netherlands and Germany. But to change the trend, the price should be below 1.2975 - the Kruzenshtern line to the daily. Thus, the situation on the pound has become even greater uncertainty. However, the wait is not long.

Read more: https://www.instaforex.com/forex_analysis/218200

Three more interim stages of InstaForex contests summed up

Today we are ready to announce the names of winners in InstaForex Sniper, One Million Option, and FX-1 Rally contests. We are pleased to congratulate the winners and to wish all the contestants to conquer new peaks! Do not give up hope, luck chooses persistent and patient ones!

InstaForex Sniper

Prompt sharpshooters are the ones to snatch triumph in InstaForex Sniper contest. A keen eye, a firm hand and some endurance, plus a little bit of luck. The results of the last InstaForex Sniper contest stage defined Viktor Aleksandrovich Titov as a winner. Keep up as well – register and join the contest! The next stage of InstaForex Sniper contest is running from November 12, 2018 to November 16, 2018.

One Million Option

One Million Option is traders' favorite and one of the most popular InstaForex contests. Within each stage, venturous contestants challenge each other in an arduous battle for the title of the best option trader. This time, our regular competition was won by Yuriy Pavlovich Batura, a trader from Ukraine. We remind you that the next stage of One Million Optioncontest will be held very soon – from November 12, 2018 until November 16, 2018.

FX-1 Rally

Denis Leonidovich Afanasiev showed the best results at the latest stage of the FX-1 Rally contest. We applaud the champion and wish him to prove the title of the best pilot in the further FX-1 Rally contest stages. If you desire to experience the breathtaking feeling of race for leadership and ready for the intense clash – you are welcome to the start of another FX-1 Rally stage! You can register and participate in the next race that will be held from 00:00 on November 9, 2018 to 23:59 on November 9, 2018.

Technical analysis: Intraday Level For EUR/USD, Nov 07, 2018

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When the European market opens, some Economic Data will be released such as German 10-y Bond Auction, Retail Sales m/m, Italian Retail Sales m/m, and German Industrial Production m/m. The US will also release the Economic Data such as Consumer Credit m/m, 30-y Bond Auction, Crude Oil Inventories, and Mortgage Delinquencies, so amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY'S TECHNICAL LEVEL: Breakout BUY Level: 1.1524. Strong Resistance:1.1517. Original Resistance: 1.1506. Inner Sell Area: 1.1495. Target Inner Area: 1.1467. Inner Buy Area: 1.1439. Original Support: 1.1428. Strong Support: 1.1417. Breakout SELL Level: 1.1410. Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or Investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/127309

NZD/CAD Approaching Resistance, Prepare For A Reversal

NZD/CAD is approaching its resistance at 0.8778 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 0.8558 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support).

Stochastic (55, 5, 3) is approaching its resistance at 98.3% where a corresponding reversal is expected.

NZD/CAD is approaching its resistance where we expect to see a reversal.

Sell below 0.8778. Stop loss 0.8933. Take profit at 0.8558.

https://forex-images.ifxdb.com/userfiles/20181106/analytics5be107be14be9.png

Read more: https://www.instaforex.com/forex_analysis/127193

Global macro overview for 05/11/2018

The Governor of the Bank of Japan had his speech overnight. Kuroda said the market situation has improved somewhat since the last monetary policy adjustment that took place in July. The central bank is aware that a very loose policy affects the stability of the financial market. Commercial banks take on more risk than usual, which may be problems in the future.

As yet, the risk of financial destabilization is small, but the Bank of Japan monitors its development on an ongoing basis. Currently, the biggest risk factor is external factors, primarily economic protectionism of large economies. The tightening of monetary policy will start only after reaching the inflation target of 2.0%.

Let's now take a look at the USD/JPY technical [picture at the H4 time frame. The market is still trading below the technical resistance at the level of 113.28 - 113.38 zone, but the market conditions are still positive and indicate a possible move upward. The local support is seen at the level of 112.88 and 112.55, so as long as the price is trading above those levels the outlook remains bullish.

https://forex-images.ifxdb.com/userfiles/20181105/analytics5bdfe36a166bb.jpg

Read more: https://www.instaforex.com/forex_analysis/127098

Bitcoin analysis for 02/11/2018

Bitcoin and altcoins are "a new institutional investment class" - says Morgan Stanley, one of the largest investment banks in the world, acting as a financial advisor for the largest companies, governments and financial institutions. "Decrypted Bitcoin: short teaching and implications" - this title document states that Morgan Stanley surprisingly changes the attitude towards cryptocurrencies. According to the latest publications, the bank sees a strong creation of new funds targeted at this sector, as well as an increase in futures contracts related to crypto.

The positive nature of the document, despite the bearish market this year and the related price drops, is one of the strongest signs that Wall Street is willing to make friends with Bitcoin. Researchers also maintained a positive opinion on decentralized technology, describing it as making the world a better place. Investment giants routinely emphasize the clients' demand, motivating them to cooperate with the industry.

Last month, anonymous sources told the main media that Morgan Stanley would follow in the footsteps of other heavyweight Wall Street players like NASDAQ and Citigroup, considering options for Bitcoin transactions for customers. Let's now take a look at the Bitcoin technical picture at the H4 time frame.

The market has bounced from the level of $6,173 and broke through the technical resistance zones at the levels of $6,297 and $6, 323. There is a new local high made at the level of $6,345 as well, just below the weekly pivot at the level of $6,367. Nevertheless, to move even higher the market must break out above the technical resistance zone at the level of $6,455.

https://forex-images.ifxdb.com/userfiles/20181102/analytics5bdbf578cd6e1.jpg

Read more: https://www.instaforex.com/forex_analysis/127050

Technical analysis for Gold for November 1, 2018

Gold price has broken below $1,220 and has moved lower towards the break out area of $1,215-13. Price back tested this support level and bounced. This is a bullish sign. Gold bulls do not want to see prices break below yesterday lows. They want now to see higher highs and higher lows.

https://forex-images.ifxdb.com/userfiles/20181101/analytics5bdaa73b356c1.png

Magenta rectangle - previous resistance now support area

Gold price is bouncing back above $1,220. This is a very bullish sign. Bulls need to hold above the support area and steadily start a new upward move with higher highs and higher lows. Next resistance for Gold is at $1,223.50 and next at $1,234. A four hour candle close above $1,234 would be a very bullish sign. On the other hand bulls do not want to see price break below $1,212. This would imply that the entire bounce from August lows is most probably over. Bulls do not want to see price make lower lows and lower highs.

Read more: https://www.instaforex.com/forex_analysis/126979

Scores of three interim InstaForex contests summed up

The scores of three more interim stages of InstaForex contests are summed up. We are ready to announce the names of winners in InstaForex Sniper, One Million Option, and FX-1 Rally contests. InstaForex congratulates the winners and wishes good luck to other participants in next contests.

InstaForex Sniper

The fastest and most accurate traders usually win in InstaForex Sniper. This time, Artem Permyakov proved to be such a trader. He outperformed other participants and scored victory. We congratulate the winner and rejoice in his achivements. You also can get lucky and notch up success. We remind you that the next stage of InstaForex Sniper is running from November 5, 2018 until November 9, 2018.

One Million Option

One Million Option is one of the most popular InstaForex contests. It gathers a large number of contestants who are keen to face a challenge. True optimists compete for the title of the best options trader. We are glad to announce the name of the lucky winner. Tatyana Zyablova grabbed the victory. We congratulate her and remind that the next stage of One Million Option contest will be held from November 5, 2018 to November 9. 2018.

FX-1 Rally

Mohammad Razibul Hossain from Bangladesh showed the best results at the latest stage of the FX-1 Rally contest. We conglatulate the winner and wish him to confirm the title of the best racer in further stages. If you are not afraid of a tense clash and healthy competition, you are welcome to take part in FX-1 Rally. You can register and participate in the next tournament that will be held from 00:00 November 2, 2018 to 23:59 November 2, 2018.

Learn more about the contests

Photos and comments of the finalists

Technical analysis for AUD/USD for October 31, 2018

https://forex-images.ifxdb.com/userfiles/20181030/analytics5bd8cae083bf2.jpg

Technical outlook:

The short-term hourly chart depicted here signals that bulls are on their way towards 0.7200 levels soon. Please note that the wave structure remains optimistic for bulls after prices broke above the trendline resistance and also took off initial resistance at 0.7110 earlier. The subsequent swing drop was also seen through fibonacci 0.618 support at 0.7050 levels. Ideally, we can expect AUD/USD to remain in control of bulls until prices stay above 0.7020 levels going forward. The scenario of a re-test of 0.7050 levels is still valid. Please consider that event as yet another buying opportunity. Looking into a medium-term outlook, the AUD/USD pair looks like it is going to resume its corrective rally towards at least 0.7370 levels if not further.

Trading plan:

Remain long, stop below 0.7020, target above 0.7350.

Good luck!

Read more: https://www.instaforex.eu/forex_analysis/126821

Technical analysis: Intraday Level For EUR/USD, Oct 30,2018

https://forex-images.ifxdb.com/userfiles/20181030/analytics5bd7c82838abb.jpg


When the European market opens, some Economic Data will be released such as Italian 10-y Bond Auction, Prelim Flash GDP q/q, Italian Prelim GDP q/q, German Unemployment Change, Spanish Flash CPI y/y, French Consumer Spending m/m, German Prelim CPI m/m, and French Flash GDPq/q. The US will also release the Economic Data such as CB Consumer Confidence, and S&P/CS Composite-20 HPI y/y, so amid the reports, the EUR/USD pair will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL: Breakout BUY Level: 1.1431. Strong Resistance:1.1424. Original Resistance: 1.1413. Inner Sell Area: 1.1402. Target Inner Area: 1.1375. Inner Buy Area: 1.1348. Original Support: 1.1337. Strong Support: 1.1326. Breakout SELL Level: 1.1319.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or Investors.The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.eu/forex_analysis/126695

Global macro overview for 29/10/2018

In line with market expectations, the Central Bank of Canada (Bank of Canada, BoC) decided to raise interest rates by 0.25 p.p. during the summary of the October meeting on monetary policy up to 1.75%, which is the highest level in ten years. However, the market's attention was not focused on the hike itself, but on the content of the monetary policy statement, which was undoubtedly taken away as hawkish.

The most important element was the removal of the record of gradual increases in interest rates, which should be understood that these can take place much faster than before. In addition, BoC draws attention to the stabilization of the housing market, consumer inflation at the level of 2% at least until 2020 (after holiday increases) and gently raises economic forecasts to 2.1% for 2018, 2.1% for 2019 and 1.9% for 2020. The bank notes that further interest rate hikes will depend on how the economy will react to the existing normalization, while adding that higher rates are necessary to achieve and maintain the inflation target. "The global economic outlook remains solid.

The US economy is particularly strong and is expected to be moderate over the forecast horizon, in line with the projection included in the July Monetary Policy Report (MPR). A new agreement between the US and Mexico and Canada (USMCA) will reduce the uncertainty of trade policy in North America, which has significantly reduced business confidence and investment. However, the trade conflict, especially between the United States and China, has an impact on global economic growth and commodity prices.

The volatility of financial markets has returned to the surface and some emerging markets are under pressure, but overall, global financial conditions remain favorable" said the Canadian Bank in the Monetary Policy Statement.

Let's now take a look at the USD/CAD technical picture at the H4 time frame. The market has broken through the technical resistance at the level of 1.3133, but it reversed quickly towards the support at the level of 1.3068. Currently, the price is trying to break out again, but there is no momentum behind this move as the RSI indicator remains weak. Moreover, the market is clearly overbought, so the short-term pullback might continue towards the level of 1.3068 again or even 1.3027.

https://forex-images.ifxdb.com/userfiles/20181029/analytics5bd6b3b2aaa81.jpg

Read more: https://www.instaforex.eu/forex_analysis/126606

Elliott wave analysis of EUR/NZD for October 26, 2018

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EUR/NZD has finally broken above short-term important resistance at 1.7557. This break confirms that red wave ii/ completed with the test of 1.7355 and red wave iii/ towards 1.8345 now is developing.

Due to the hidden divergence we showed in yesterdays post, we expected this rally to be strong and accelerating higher towards the 1.8345 target.

The former resistance at 1.7557 is now acting as support.

R3: 1.7657

R2: 1.7625

R1: 1.7598

Pivot: 1.7557

S1: 1.7515

S2: 1.7495

S2: 1.7475

Trading recommendation:

We are long EUR from 1.7495. We will move our stop higher to 1.7385. If you are not long EUR yet, then buy near 1.7557 and use the same stop at 1.7385.

Read more: https://www.instaforex.eu/forex_analysis/126503

Technical analysis of Gold for October 25, 2018

Gold has pulled back yesterday towards the break out area and back tested it successfully as prices bounced from the break out area and are now close to their recent highs. As we said yesterday we remain bullish as long as the price is above $1,220.

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Blue rectangle - support

Red line - target

The Gold price bounced off short-term support and is now trying to make higher highs. The Gold price has reached our first target of $1,220 and our second target of $1,240. The Gold price has the potential to make an equal leg higher towards $1,260-70. This is our third target. Bulls remain in control of the trend as long as the price is above $1,220. Breaking below $1,220 will make it bearish.

Read more: https://www.instaforex.com/forex_analysis/126394

Daria Kasatkina - the VTB Kremlin Cup 2018 holder!

One of the most prestigious WTA tournaments - the VTB Kremlin Cup 2018 brought to Moscow the whole bunch of the shining stars of the world Tennis. Instaforex Brand Ambassador Daria Kasatkina who has already won the title in 2015 in double together with Elena Vesnina was determined to repeat the success in singles this time. However, the list of players, which included the leader of the world rating Simona Halep, as well as the other top-10 players like Sloane Stephens, Karolina Pliskova, and others was promising a very tough competition.

Kasatkina did not have any problems with entering to the second round, however, it was an end of an easy way. In the second round Daria was to meet the French player Alize Cornet. The Russian lost the first set and was close to lose the second one when the help came from her coach - Phillip Dehas from Belgium. Phillip is famous for his motivational speeches and this time he was able to find the right word yet another time. He compared Daria with the great Chinese wall with one change - Daria was supposed to become a Russian wall. This speech helped Daria to get transformed into powerful shellproof wall and beat the opponent in 3 sets - 3:6, 7:5, 6:4.

After that Daria had to play against the compatriot Anastasia Pavlyuchenkova and Johanna Konta from Great Britain (Daria won both games with the same score - 6:4, 6:3) and entered the final where she faced powerful Tunisian player Ons Jabeur. The Tunisian player had a fantastic start. The Tunisian won the first set - 6:2 and took the lead (4:1) in the second. Once again the right words from the coach have turned the game upside down. Kasatkina has pulled out the second set on tie-break and secured the victory in a deciding set (6:4) and took the Kremlin Cup. This victory helped Daria to enter the WTA top-ten list!

InstaForex congratulates Daria with such an important victory. The Russian has been an ambassador of the company for more than a year and there are grounds for believing that the main triumphs are yet to come!

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Global macro overview for 24/10/2018

The expectations regarding the possibility of meeting the leaders of the two largest economies in the world are clearly descending. Both Trump and Xi are pessimistic about the chance to resolve the deepening trade war. Larry Kudlow confirmed yesterday that the presidents will meet "for a moment" during the G20 meeting, which will take place on November 30 in Buenos Aires. There is a chance to "establish the basic principles of cooperation", but Kudlow stressed that it is better not to count on it.

International corporations are already feeling the effects of the trade war, the problem is also beginning to affect consumers in the US and China. According to sources from the Middle Kingdom, the Chinese administration is less willing to settle than at the beginning of the conflict and is now preparing for a long fight and adaptation to new trade conditions.

Let's now take a look at the SP500 technical picture at the H1 time frame. The bulls have bounced from the technical support level at 268.45 and have managed to fill the gap between the levels of 274.86 - 271.71. Moreover, the price has hit the 50% Fibonacci retracement level of the last big swing down. Nevertheless, the market still trades below the short-term descending trend line and below the 61% Fibo at the level of 276. 34, so there is still no reason to get excited for bulls as they must break through the trend line to establish control over the market. If they will not break through, the bears will push the prices lower again.
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Read more: https://www.instaforex.com/forex_analysis/126276

Ethereum analysis for 23/10/2018


Fork, named "Constantinople", was first tested on October 13 on the Ethereum public test - Ropsten - and was planned to be activated in the main Ethereum block by the end of October - November this year.

Testnet is essentially a simulated version of the basic network that allows programmers to try out smart contracts or improvements without having to pay "for fuel" (calculation fees) for their execution. At the end of yesterday's meeting, the developers reached a consensus - Constantinople will be implemented at the earliest at the end of January 2019. Yesterday's meeting took place after the debut of Constantinople on Ropsten encountered a number of obstacles.

Before activating block 4 230 000, the fork stopped at block 4 299 999 for two hours - the testnet miners did not start the passage. Ethereum's client developer, Alfri Schoeden, explained that this was due to the "consensus problem" that triggered the "three-way fork" between Geth and Parity (two Ethereum clients). In the notes published before yesterday's meeting, Schoeden outlined that "recently added hash power resulted in shortened blocking times and caused hard fork to happen much earlier than expected on Saturday." He suggested that it was "the worst possible time for hard fork".

Hard fork Constantinople is a system-wide Ethereum update designed to improve network performance. In particular, it includes plans to reduce block prizes for miners, as well as changes to the network consensus mechanism that would make it more resistant to ASIC miners. Let's now take a look at the Ethereum technical picture at the H4 time frame. The market is still moving inside of the consolidation zone as the sideways trend continues.

The nearest support is seen at the level of $195 and the nearest resistance is seen at the level of $204. Nevertheless, the momentum is still below its fifty level, which means the support might be tested any time now.

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Read more: https://www.instaforex.com/forex_analysis/126168

Control zones GBPUSD 10/22/18

The pair continues to trade in a descending medium-term impulse. Friday's upward movement did not disrupt its structure, which indicates a high probability of a further fall.

At the beginning of the current week, the pair is trading within the framework of the correctional upward movement, since the growth of the pair did not exceed the NKZ 1/2 framework, the upper limit of which is at the level of 1.3143. As long as the pair continues to trade below this mark, the test of the last week's low seems the most likely outcome. The most favorable prices for selling the tools are located at the level of 1.3143.



The fall may continue from the current levels, so you need to be ready to break the patterns for selling. The main condition for making sales is the risk-to-profit ratio of 1 to 3 when calculating the profit at the low of last week.

For violation of the downward movement, it will require growth and closing of today's US session above the level of 1.3143. If this happens, subsequent growth will be most likely, and the test of the previous week's high will be the first goal of the upward movement. This model has a probability of realization of 30%, therefore it should be used as an auxiliary in today's trade.

Read more: https://www.instaforex.com/forex_analysis/216984

Elliott wave analysis of EUR/NZD for October 19, 2018

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The break below support at 1.7477 has forced us to review our count from the peak of red wave i/. The break below 1.7477 indicates, that red wave ii/ still is in motion, but could just have completed or be very close to completion. The first good indication of a corrective low being in place, will be a break above resistance at 1.7557 and more importantly a break above resistance at 1.7657. As long as resistance at 1.7557 stays untouched, we must accept the possibility of red wave ii/ moving a little lower towards 1.7357, but we think the potential downside is limited to here.

R3: 1.7598

R2: 1.7557

R1: 1.7493

Pivot: 1.7476

S1: 1.7455

S2: 1.7400

S3: 1.7357

Trading recommendation:

Our stop at 1.7465 has been hit. We will only buy a break above 1.7557.

Read more: https://www.instaforex.com/forex_analysis/125934

Global macro overview for 18/10/2018

Important data were published overnight from Australia in form of Unemployment Rate and Employment Change. The most important of the readings - change of employment in September - failed. Employment growth was expected by 15.2k people, and the final result was the only 5.6k. This result, however, does not matter when the unemployment rate decreases. The previous reading was 5.3%, analysts did not expect improvement. Nevertheless, the final result was much better - the unemployment rate decreased to the level of 5.0%. The unemployment rate generally moves slowly, so changes of only a few tenths of a percent are still considered significant. Also, note that the unemployment rate does not account for discouraged workers. Therefore, in an economically depressed environment, such as that which occurred in Cold War era East Germany, the Unemployment Rate may not accurately reflect the extent of problems Let's now take a look at the AUD/USD technical picture at the H4 time frame. The Aussie reaction was strong and the move up started an hour before the announcement of the data, the rebound occurred around 0.7105.

After the data release, AUD/USD moved by more than 20 pips, then there was an hour-long downward reversal, and finally, there was a rise again. Currently, the price of the Australian dollar is around 0.7125, The nearest support is seen at the level of 0.7111 and the nearest resistance is seen at the level of 0.7136.

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Read more: https://www.instaforex.com/forex_analysis/125827