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Hello. Below are a few recommendations for trading in the Forex market on 11.07.2019
On a pair GBPUSD price formed a pattern of Rails in the area of the support level of 1.2500 again. Probably go to a small correction up, and then we will try to continue the trend down. The purchase pattern is not considered, because they are against the trend.
On a pair USDCAD price moves in the area of 1.3100 and formed today Absorption. From below the lower boundary of the sideways pattern and with sales I think you should not hurry. Will sell after the breakout.
On the USDJPY is out of level 108,500 and turned and formed the Takeover. Trend trying to break, and it is not yet clear, to work out whether the figure Head and Shoulders after a breakout. While I think that's a shopping.
On the pair EURAUD formed a pattern Pin-bar. To the level 1.6244 a little not reached, but the box can probably finish the correction and resume the fall. It seems that we will try to reverse the trend on the downside. Look here to sales.
the Fundamental news APR S&P/ASX 200 + 0.36% and Shanghai Composite up 0.44%, the Shenzhen Composite of 0.46%, the Hang Seng Index + 0.31 percent, Nikkei by 0.15% — KOSPI + 0,33%
Asian markets on Wednesday have not shown uniform dynamics – Chinese investors sell stocks for a third straight day, this time because of deflation was on the previous month. The annual inflation rate of China remained at the same level of 2.7%.
On the statistics of the negative reaction the markets of Japan, the rest of the stocks: Australia on the resumption of the positive trend in oil, Korea has played off the American technology sector.
Today in the morning out country statistics:
New Zealand: retail sales by credit cards Australia: housing loans Japan: the business activity index US NASDAQ +0.75% and Dow Jones +0.29 percent, the S&P500; + 0,45%
on Wednesday the us indices set new records, under the influence of a speech by Jerome Powell to the U.S. Congress. The fed has clearly hinted that the crisis phenomena in the economy, you should consider using monetary policy.
Investors have regarded it as a signal to buy, lifting the S&p 500; the higher the level of 3000, and set an absolute record price for the NASDAQ. In the Forex market the major currencies recovered part of the lost on Tuesday positions.
In the second half of day dynamics of the markets will determine the indicators are:
Inflation and the number of initial claims for unemployed benefits in the United States – 15-30 price Index for new Canada – 15-30 Speech by Jerome Powell (a report to the Senate) – 17: 00 Report on budget execution – 21-00 Eurozone the DAX up 0.51% of CAC40 — 0,08% FTSE — 0,08% Press conference of European Commissioner for economy and Finance Pierre Moscovici
Stock indexes in Europe closed lower amid predictions of recession in the short and medium term. These are the forecasts of the European Commission, presented on Wednesday by European Commissioner Pierre Moscovici. Economists don't expect GDP growth EU before the end of the year and the forecast decline in 2020, the year to 1.4%.
In the first half of the day will report the country:
9: 00 am – Germany: inflation 9-45 – France: 12-30 inflation Report the Bank of England 14-00 – 14-30 Report OPEC Protocols ECB
regards, Artem aka TeaDrinker
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