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Hello. Below view on a few interesting points to trade in the Forex market on 1.08.2019
On the EURUSD formed a pattern of Absorption and as expected, passed level 1,1121. Should probably wait for a correction back to the level to confirm that the breakout is not false. And from the level to open the transaction in sales, with the expectation of a continuation of the down trend.
On the USDCHF the same pattern, the Absorption level 0,99000. Should probably wait for the continued growth and development of the up trend. Consider here the purchase, with targets of 1,000 and above.
Another Absorption at the Gold level 1421,52 and relying on broken trend line. It seems necessary to wait for falling into a deeper correction, I think, in the area 1357,70. Consider there sales.
the Fundamental news of the ATP Shanghai Composite index of -0.67 %, the Shenzhen Composite of 0.68%, Hang Seng Index of 1.31% Nikkei — 0.86% on the KOSPI TO 0.69%, the S&P/ASX 200 of 0.47%
the End of the Asian session was determined by trade negotiations the United States and China that ended before their time.
the American delegation departed for the airport without any statements to the press, but the newspaper Xinhua has published a positive communiqué the parties agreed to meet in September.
Investors took the results negatively, the indices went into the red zone – Hong Kong fell to a record low due to early closing of the trades on the conditions on the island, a tropical hurricane.
Today in the morning came news by country:
China: PMI version Caixin Australia: manufacturing index US NASDAQ — 1,19% Dow Jones — of 1.23%, the S&P500; — 1,09%
Investors were disappointed on Wednesday, the Federal reserve policy, Powell has made it clear – decrease rate by 25 basis points – a special case.
Speaking at a press conference, the Minister stressed that the economy is in the middle of the cycle (growth) and requires adjustment. Lowering rates should not be seen as a return to the policy of quantitative easing.
the Evening will be published statistics on the USA:
15-30 – Weekly amount of unemployment benefits (initial claims) 16-45 – 17-00 PMI promsektor ISM PMI from the Eurozone, the FTSE down 0.78%, DAX +0.34% in the CAC40 + 0,14%
European markets ended the session positively in addition to the index of great Britain, which had escaped the General trend, as the pound showed growth in the Forex in the fall of the majors, losing to the U.S. dollar.
the reason for the closure in the green zone European markets – financial reporting and statistics – retail sales in Germany is growing, shrinking, deflation France, GDP growth in the Eurozone exceeded analysts ' expectations.
the Prime Minister answers questions from Irish journalists
the New Prime Minister started his visit to Northern Ireland and Scotland with the aim to convince them to take a hard Bracket. This means that backstop no border will restore everywhere, which clearly is bad for business.
On this background, traders have all the more confidence in a rate hike by the Bank of England to limit a possible rise in inflation, warning the crisis is hard Brakcet.
the Main event of the morning session will be the boe rate at 14: 00 and a press conference Mark Carney 14-30.
Before the news will be released:
Spain: PMI – Switzerland 10-15: PMI – 10-30 (markets are closed for national holiday) Italy: PMI – 10-45 France: PMI – 10-50 Germany: PMI– 10- 5 5 Eurozone: PMI– 1 1 — 00 UK: PMI– 1 1 — 30
regards, Artem aka TeaDrinker
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