On March 29, the United Kingdom officially launched the Brexit process by triggering Article 50 of the Lisbon Treaty, the mechanism that gives member states two years to negotiate a new trade agreement with the European Union (EU)….
Forecast for the week April 3rd-7th:
This week gold is likely to get into the hands of bears. Quotes will drop because of gold and US dollar correlation. These two instruments have negative correlation, as traders increase volume of lon…
Monthly chart:bulls are giving ground considering the results of March closing. We already have upper Bollinger envelope breakout, so we may expect drop towards middle Bollinger band (2118.3)
Weekly chart: upper Bollinger band (242…
During the previous trading week, Gold markets rose to the upper side, hit the highs of 1258.5 but ended up closing just a few pips above it’s weekly opening price. About three weeks ago, the corrective wave (b) traded short but could not go beyond 1204.70, we expect the upward rally that began a fortnight a go to be the unfolding of the impulsive wave (c) and should not go beyond 1396.94. A break above this level will push the price further to the upper side but should not go beyond 1500. This commodity should be traded alongside Silver, these two commodities have a strong positive correlation of up to +89% and will move in the same direction during this intraday.
Expect a possible bullish price movements towards 1396.94
SPX500 Weekly Review
During the past trading week ending 31st March 2017, SPX500 traded on the higher ranges despite our expectation to rebound from our retracement level 2365.75. This commodity merely tested this level and is currently rallying slightly below it. As long as this level protects any invasion to the upper side,we’re waiting for a clear rebound from this level to go short with an ideal target at 2279.67, a clear break above this level will push the price to the upper side but should not go beyond 2500. This upward rally is supported by the fact that for almost a decade, SPX500 has been in an overall up trend and may continue long in the long run.
Wait for a clear rebound around 2367.75 to go short with an ideal target at 2279.67. A break above 2367.75 to go long with an ideal target at 2500.
Oil Weekly Review
Despite our expectations to continue short, the oil retraced a bit higher and even broke above our retracement level 52.024. As long as this commodity remains above this level, we expect a possible bullish momentum towards 57.001 or even higher. Thus, if you’re not long already, wait for a clear break above 57.01 to go long or a clear rebound from this level will push the price to the lower side. Sell positions may also been considered below 52.024. Crude oil should be traded alongside Canadian pairs. The value of most Canadian pairs are always determined by the price of oil.
Expect a possible bullish momentum towards 57.001
THAI 45 BLN BAHT, 342-DAY CENTRAL BANK BOND AVG ACCEPTED YIELD 1.50111 PCTThe material has been provided by InstaForex Company – www.instaforex.com
The post Thai 45 Bln Baht, 342-Day Central Bank Bond Avg accepted Yield 1.50111 Pct appeared first on fastforexprofit.com, الفوركس بالنسبة لك.
MALAYSIA TO SELL 2.0 BLN RGT GOVT BOND – CENTRAL BANKThe material has been provided by InstaForex Company – www.instaforex.com
The post Malaysia to Sell 2.0 Bln Rgt Govt Bond – Central Bank appeared first on fastforexprofit.com, الفوركس بالنسبة لك.
BOJ offers to lend Y 7.3142 trln of JGBs on spot basis through 4/5 as a secondary source of JGBs (Offer in the morning)The material has been provided by InstaForex Company – www.instaforex.com
- USD/JPY is currently trading around 110.65 marks.
- It made intraday high at 110.92 and low at 110.47 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 111.58 marks.
- A daily close above 110.89 will take the parity higher towards key resistances around 111.58, 112.20, 112.86, 114.88, 115.50, 117.21, 118.18, 118.66, 119.52 and 120.46 levels respectively.
- On the other side, a sustained close below 110.89 will drag the parity down towards key supports around 110.17, 109.72, 106.72, 106.03 and 104.96 levels respectively.
- BOJ governor Kuroda – BOJ’s ETF purchases are part of policy to meet 2 pct inflation target.
- BOJ governor Kuroda – Too early to talk about exit strategy from current monetary policy, which includes ETF purchases.
- BOJ governor Kuroda – Not buying ETFs to achieve a specific stock price level.
- BOJ governor Kuroda – ETF purchases are not distorting stock price discovery mechanism.
- BOJ governor Kuroda – No comment on specific FX levels.
The material has been provided by InstaForex Company – www.instaforex.com
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S.KOREA SELLS 30-YEAR TREASURY BONDS AT AVG YIELD OF 2.3FINANCE MINISTRYThe material has been provided by InstaForex Company – www.instaforex.com
The post S.korea Sells 30-Year Treasury Bonds at Avg Yield of 2.3finance Ministry appeared first on fastforexprofit.com, الفوركس بالنسبة لك.
Australia posted a seasonally adjusted merchandise trade surplus of A$3.574 billion in February, the Australian Bureau of Statistics said on Tuesday – surging 138 percent on month.
The headline figure far surpassed forecasts for a surplus of A$1.70 b…
The post Australia March Trade Surplus Climbs To A$3.574 Billion appeared first on fastforexprofit.com, الفوركس بالنسبة لك.