Overview of the situation on the Forex market on 16.05.2019

Hello. Below are a few recommendations for trading in the Forex market 16.05.2019

EURUSD

On the EURUSD stayed at the level 1.1200 and formed a pattern Doji. It seems that the strength to go down is not enough and should expect the resumption of growth to 1,1300 or higher. consider purchase here.

EURJPY

On EURJPY, also a Doji at the support level 122,58. Should probably wait for the beginning of a correction to a previously punched level 124,14. Then you can resume the fall and will develop a down trend.

the Fundamental news APR KOSPI + 0,53% S&P/ASX 200 + 0,71%, Hang Seng + 0,52%, Shanghai Composite + 1.9%, the Shenzhen Composite + 2,3% Nikkei + 0,58%

the people's Bank of China showed the devaluation of the yuan intention to support the economy during the new round of trade war. This statistics indicates that retail managed to maintain the momentum of increasing retail sales +7.2% last month, while unemployment continued its decline. Investors found it possible on these data to start buying cheapened shares on all stock exchanges in the Asia-Pacific region.

this morning came the news on employment and unemployment, Australia.

the U.S. Dow Jones + 0,45 % NASDAQ + 1.13 percent, the S&P500; + 0,58%

the Message about the refusal of the White House to raise duties on European cars for 6 months, brought us indices plus in the auction environment. Donald trump has decided to postpone a trade war with the EU for six months of negotiations.

Despite all the assurances of the American President, the US economy fails, as evidenced by unexpectedly falling instead of rising, retail sales and industrial output.

Day and night will be released:

15-30 – building Permits and the volume of construction of new U.S. homes 15-30 – Weekly amount of unemployment benefits USA 15-30 – manufacturing Index and employment Philadelphia fed 15-30 sales of the manufacturing sector of Canada 18-15 – speech of the head of the Central Bank of Canada FTSE Eurozone + 0,76% DAX up 0.9%, the CAC40 + 0,62%

the Main driver of the day was the decision of the President of the United States for six months to freeze the question impose duties on European cars – shares of automakers have contributed to the growth of indexes on the bidding environment.

the Visit of Prime Minister to the House of Commons

the Second positive factor was the first appearance after a period Brakcet Theresa may in the House of Commons. However, MPs failed to elicit from the Prime Ministers clear answers to questions. Deputies are again waiting for a new plan from the Cabinet office, which comes up for a vote in June.

in the Morning come the indicators are:

11-00 – 12-00 Inflation Italy – trade balance EU

regards, Artem aka TeaDrinker

last autumn