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Hello. Below are a few recommendations for trading in the Forex market on 31.07.2019
On the USDJPY pair continued moving to the resistance level 108,70 and has already formed a series of Doji Paterno. It seems that the strength to go up is not enough and should expect the resumption of the fall, and at least a continuation of the sideways pattern. Consider here sale, with the goals of 107,500 and below.
On the pair EURCHF approached the previous local lows and formed several patterns Doji. Probably the correction is over and should wait for the resumption of falling prices further in the trend. Look here to sales.
the Fundamental news Asia Pacific Nikkei + 0.43% of the KOSPI + 0,45% S&P/ASX 200 + 0.28% and Shanghai Composite +0.39 percent, the Shenzhen Composite is 0.45%, the Hang Seng Index + 0,14%
Asian markets on Tuesday positively played up the meeting of the Bank of Japan, who left the old null (for government bonds) and negative rates (on deposits of commercial banks).
event news conference of the head of the Bank of Japan, Kuroda Haruhiko
Investors turned their attention to the promise of Haruhiko Kuroda to support the economy in case of a fall, as well as statistics on unemployment, which dropped to a record 2.3 percent.
Obviously, the measures promised support need it soon, indicators show a drop in production, the forecasts of the Central Bank – inflation slowdown.
Today in the morning on the markets statistics released:
China: PMI manufacturing and service sector of New Zealand: index of business confidence in Australia: annual and current US inflation rate Dow Jones to 0.09%, the S&P500; and 0.26%, the NASDAQ is 0.24%
Us indices finished in the red session Tuesday, due to financial reporting readings of economic indicators and the proximity of the fed meeting.
came in at a disappointing drop in net profit Apple is 8.4% and also reduction of personal consumption expenditures to 1.6% (annual value), which indirectly indicates the reduction of inflation and eventually GDP.
In this regard in business circles there is a debate whether adequate measures will be fed at the rate adjustment?
the Markets were waiting for a historic fed meeting – decision on the rate will be announced at 21: 00, the press conference will be held in 21-30.
up To this point will be released:
15-30 – the Cost of labor in the United States 15-30 – Canada GDP and the index of the price of raw materials 16-45 – PMI according to the Chicago 17-30 – the oil Stocks
Eurozone the DAX and 2.12% CAC40 — 1,61% FTSE — 0,49 %
Deep decline on European stock exchanges has provided statistics and financial reports of the companies. Two of the largest corporations in Germany has shown a significant drop in profits Bayer 1.67 times, Lufthansa 70% in the first half.
Economic statistics of France was worse than expected, the country has registered deflation and GDP decline, which analysts did not expect.
during the day, the statistics will publish the country:
UK index of housing prices – 9-00 Germany: retail sales – 9: 00 am; the unemployment rate is 10-55 France: consumer prices and GDP – 9-45 Spain: GDP – 10-00 Italy: inflation – 12-00 Eurozone: unemployment and GDP –12-00
regards, Artem aka TeaDrinker
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