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Business / Finance

Technical analysis of major currency pairs in 8.08.2019

Portal Forex trader 07.08.2019 at 21:40

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Hello. Below are a few recommendations for trading in the Forex market on 8.08.2019

EURUSD

On EURUSD still one pattern Doji at the district level 1.1200 and trend line. In General, the situation from yesterday has not changed. It seems that the forces are not to put the price up left. Can try to resume the drop and continue down trend. Eyeing the sales.

AUDUSD

On AUDUSD formed a pattern Pin-bar. Any support from this pattern I found. But probably will start the correction to the area of the previously broken level 0,68500. Buy here do not consider, as they are against the trend.

EURAUD

the situation is Similar on the pair EURAUD. There is formed a pattern Pin-bar-level 1,65950. Should probably wait for a correction down to the area 1,6400, after a long period of growth. Sales here do not consider, as they are against the trend.

the Fundamental news APR S&P/ASX 200 + 0,64%, the Shanghai Composite -0,32 %, the Shenzhen Composite was 0.43%, the Hang Seng Index and + 0.1% Nikkei — 0.33 percent, the KOSPI is 0.41%

Asian investors continued selling shares in the absence of news about the normalization of relations between China and the United States. The markets are waiting for a response, real steps from the White House, so the increased demand is gold, break in the Asian session barrier of $1500.

In the black was the only stock index Australia, grew up after expected rate cut by reserve Bank.

this morning came the most important news by country:

Japan: balance of current account China: import/export trade balance of the US S&P500; + 0,08%, NASDAQ + 0.38 percent, Dow Jones — 0,09%

Active purchase of American investors, stopped the fall in stock markets. Traders reassured official answers people's Bank of China and the IMF on the US charges of currency manipulation.

the Representative of the people's Bank of China Wang Mei officially denies the US charges of currency manipulation the yuan

the country's Central Bank said that the fall of the Renminbi is not connected with a trade war, it is the result of a balanced monetary policy that responds to the lowest GDP growth in recent history. The IMF agreed with these arguments, China does not fit the definition of a manipulator.

the Evening will be released:

United States: initial unemployment benefits – 15-30 Canada price index for new buildings FTSE Eurozone + 0,37 % DAX + 0.68% of CAC40 + 0,61%

European investors found reason to buy the stock in anticipation of the strengthening of the supranational currency, the Euro, and easing.

the American President once again lashed out at the fed, suggesting further rate cuts. Next month – September can run programs further stimulate the economy of the European Union, the ECB will be forced to do this against a background of high probability "hard Brakcet".

In the European session is expected to yield economic report of the ECB is the only news to mid day.

regards, Artem aka TeaDrinker

last autumn