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Business / Finance

Analysis of candlesticks on 5.05.2017

Portal Forex trader 04.05.2017 at 20:25

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Hello. Below are a few recommendations for trading in the Forex market 5.05.2017

a Calendar of expected events

15:30 US. The unemployment rate

15:30 Canada. The employment change

17:00 Canada. The index of business activity

20:30 the United States. The speech of fed Chairman Yellen

EURUSD

On the EURUSD finished to move above the level 1,08500 and continuing the growth of the formed pattern of Absorption. Looking forward to the continuation of the trend up and consider buying with the objectives in the area of 1.1100 and above.

GBPUSD

On GBPUSD once again rebounded from the level of 1,28500. Price Action patterns there, but I think you can look for buy on lower time frames. I hope to continue this growth trend.

Open orders big banks

Changes for 4.05.2017 Deutsche Bank SL changed with 1,3600 1,3400 for buying on USD/CAD-Credit Suisse canceled the Sell Limit on NZD/USD at 0.7000 Citi otstupite on sale for GBP/AUD with 1,7111 for 1,7450. Loss-339pp Fundamental analysis APR

Asian shares weaken for the third day in a row, as the slump in commodity prices accumulated fears about the state of the global economy. Chinese stocks led the decline in the region, falling to three-month lows in connection with toughening of financial regulation over the banking stocks, while oil retreated below $45 per barrel.

The broad MSCI index in the region fell by 0.8% and is trading near the lowest levels since April 25. Australian stocks also weakened by 0.8%. The Dow Jones industrial closed at 20951.47, while the S&P 500 and Nasdaq rose 0.1% to 2389.52 and 6075.34 respectively.

the 9-day ranges for the USD and S&P 500, however, are at extremely low levels, and demand does not seem to take into account the weakened commodity shares and other sensitive assets, and actual agenda of the fed, supporting the bullish trend for the currency. According to the CMW Group FedWatch, traders give a 79% probability of a rate hike in June, compared to 68% a week earlier.

Europe

European stocks advanced, with corporate profits and economic data stabilized the markets in the region. Data in Europe is stronger than in the United States while the average profit has exceeded forecasts by more than 10% based on evaluations by more than a third of companies reporting to the Stoxx Europe.

the pan-European Stoxx 600 rose 0.7%, reaching 20-month highs, while the German blue chips reached a record high, while France's CAC has risen to the highest level in the last nine years. European banks rose 1.5% after the lender HSBC added 2.9%, posting better-than-expected profit and capitalization for the first quarter.

Growth stocks in the region also suggests that the European public is already tuned to the victory of Emmanuel Macron to the final stage of the presidential elections on Sunday. At the same time, the EUR weakened against its major counterparts 0.11% — in line with the dynamics of the index of European currencies, providing support to the regional funds.

regards, Artem aka TeaDrinker

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