Archive for Forex and Currency News

Dollar strengthening continued on positive data

By IFCMarkets

US dollar net long bets increase continued to $16.18 billion from $13.33 billion against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to November 12 and released on Friday November 15. The ICE US dollar index advance continued on positive data and hawkish central bank officials’ comments: the University of Michigan consumer sentiment index rose to 95.7 from 95.5 in October, initial jobless claims were below forecast for the week, while Chicago Fed President Charles Evan said the US economy may not need additional interest rate cuts.

 

CFTC Sentiment vs Exchange Rate

November 12 2019 Bias Ex RateTrend Position $ mln Weekly Change
CAD bullish positive 3202 -882
AUD bearish negative -2791 -944
EUR bearish positive -8409 -998
GBP bearish positive -2259 78
CHF bearish positive -1904 -130
JPY bearish negative -4015 -968
Total -16175

 

commitment of traders net long short
commitment of traders weekly change
market sentiment ratio long short positions

Market Analysis provided by IFCMarkets

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

The Two Best Indicators For Forex Newbies

By Orbex

Forex traders who are just starting out and want to get into technical FX trading can be a bit overwhelmed by the dizzying array of indicators available.

Each one has its own complications, pros, and cons. And it can certainly take some time to learn how to use them properly!

Picking the right forex indicator to start with can be a bit of a challenge. An option that some beginner FX traders take is to use a lot of indicators. Unfortunately, they soon find that they are inundated with signals, and fall into what some people call “analysis paralysis”.

Not having the time or attention to get the most out of each forex indicator, they find their strategies not as successful as if they’d focused on a few indicators.

So, where would be a good place to start?

The Best is a Matter of Personal Taste

One of the ways to go about this is to just use whichever indicator is the best.

However, virtually no FX trader uses only one indicator. And, often, the results forex traders get depend more on how they interpret the indicator than the indicator itself. That’s without getting into how money and risk management play into a forex trader’s strategy.

We could go with the most popular indicator, and conclude that if most experienced FX traders use it, then it must at least be near the top of the best.

The problem is that what’s best for experienced forex traders doesn’t mean it’s good for beginners. The MACD is a very sophisticated and versatile forex trading tool. But, that makes it harder for beginners to get used to right away.

The Basics Are Not Bad

The thing about beginners is that they are gaining experience. They will likely move on to more sophisticated tools in the future. And this is why Moving Averages are really the best indicator for beginners!

They are not a simple sure-fire way of winning at forex. But that’s fine because there is no such thing anyway!

More “advanced” indicators might give more clear signals, but you need to know how to interpret them.

The advantage of moving averages, whether exponential or simple, is that they form the basis of most other indicators. Getting experience in and a good grounding in MAs will help you in the future. As a more experienced forex trader, they’ll help you understand a more complex market as well as more complex indicators.

Stick With It

Moving averages can be a bit frustrating to work with. That’s because they are simply smoothing out price action without giving you all that much information.

But, you can combine different ones to generate your own signals, using mathematical principles. They are a great way to learn how to tweak settings in order to bring out the information you need from the forex market. If you are trading with a forex demo account, you absolutely have to be using moving averages at least a bit!

Another indicator that is also really easy to use, is the Relative Strength Index (RSI). It can help alleviate some of the frustration of the moving averages because it tends to be a lot clearer.

How it Works

RSI works by reading price action. It measures whether a currency pair is getting overbought or oversold, and therefore whether it is about to change direction.

When it moves beyond 70 in either direction, it means that the market will likely change direction in the near future. And there is a trade opportunity!

These two forex indicators tend to work really well together. In fact, you should use them to confirm each other before jumping into the market.

And they both serve as a useful base from which to move on to other more sophisticated forex trading indicators. Despite being relatively simple, they are quite versatile and can be used to build much more advanced forex trading strategies as you gain experience.

By Orbex

 

WTI/JPY Crude/Japanese Yen Analysis: Getting Ready for US-China Trade Talks

By IFCMarkets

Getting Ready for US-China Trade Talks

In this review, we suggest to consider the personal composite instrument (PCI) &WTI/JPY. It reflects the price dynamics of the portfolio of futures on WTI oil against the Japanese yen. Will the WTI/JPY rise??

Such dynamics means the weakening of the yen and strengthening of the oil. The dynamics of that PCI may depend on the success of US-Chinese trade talks. The Japanese yen, along with gold and the Swiss franc, is considered by investors as a “safe asset”. The demand of the Japanese yen may decline if the first phase of the trade agreement between the USA and China will be signed. At the same time, the demand of the oil may increase due to a decrease in risks for the global economy. During the last week, the economic adviser of the White House Larry Kudlow declared that there is a progress in trade talks between USA and China. The US Commerce Secretary Wilbur Ross expressed similar opinion. According to the International Energy Agency (IEA), the main increase of the oil production (at least 0.5 million barrels per day) should be executed by the countries who are non-OPEC members, such as USA, Brazil, Norway and Guyana by the next year. Meanwhile, oil production in the United States already reached a historic maximum at 13 million barrels per day (bwd). It is hard to state whether it will continue to grow. At the same time, the IEA expects an increase in the global oil demand by 6.6 million bwd in 2025. It may become the long-term factor in the stability of oil prices.

WTI/JPY

On the daily timeframe, WTI/JPY: D1 approached the upper boundary of the neutral trend, which aligns with the 200-day moving average line. Before opening a buy position, it must be broken up. Various technical analysis indicators have generated signals to increase. Further growth of quotations is possible in case of successful trade negotiations between the USA and China.

  • The Parabolic indicator gives a bullish signal.
  • The Bolinger bands narrowed, indicating a volatility decrease. The bottom line of the Bollinger has a slope up.
  • The RSI indicator is above 50. No divergence.
  • The MACD indicator gives a bullish signal.

The bullish momentum may develop in case if WTI/JPY will exceed its last two upper fractals and the 200-day moving average line: 63,5. This level may serve as an entry point. The initial stop loss may be placed below the Parabolic signal, the lower Bollinger band and the lower boundary of the neutral channel: 55. After opening the pending order, we shall move the stop to the next fractal low following the Bollinger and Parabolic signals. Thus, we are changing the potential profit/loss to the breakeven point. More risk-averse traders may switch to the 4-hour chart after the trade and place there a stop loss moving it in the direction of the trade. If the price meets the stop level (55) without reaching the order (63,5), we recommend to close the position: the market sustains internal changes that were not taken into account.

Summary of technical analysis

Position Buy
Buy stop Above 63,5
Stop loss Below 55

Market Analysis provided by IFCMarkets

Banks “forced” to embrace tech innovations in order to survive

By ForexNewsNow

Banks “forced” to embrace tech innovations in order to survive

We’ve seen an obscene amount of banks collaborating with giant companies like Google, Amazon, and Apple to create an innovative approach to payments and make banking services more available. This trend has been going on for some time now and it’s a mix of these major tech companies wanting to provide a variety of services for their customers and with banks increasingly seeing the importance of adapting to their customer’s needs and staying up to date with all the fintech trends and services.

Now more and more banks are willing to talk about the necessity to evolve and collaborate in order to stay relevant and be able to compete with other entities. This is a global trend that surpasses the banking. Everyone is in on the importance of online presence and simplified technology application to their services. Financial companies are starting to adopt these technologies as well and become better accessible. The Forex brokers in Kenya are a primary example, as they have started moving to more simplified payment processing systems rather than banks. The same can be said for the fintech. So now, more and more people are speaking out about the importance of moving banks and financial technologies closer and collaborating on a more intense level.

“Banks are Fintechs”

Recently at a panel at CNBC’s East Tech West event in Guangzhou, China – David Rafalovsky, chief technology officer at Russian state-owned lender Sberbank brought up an interesting point about this worldwide trend of a bank going into fintech. Rafalovsky expressed his frustration with the common distinction that people make between fintech firms and banks. Rafalovsky believes that banks are fintech firms.

At the event, Henry Ma, the chief information officer at WeBank which is a Tencent backed online bank, pointed out that technological innovation opens a lot of doors for people that wouldn’t be able to access the traditional banking services since it requires less complicated procedures and is generally more widely accessible. Ma specifically referred to the group of people who benefit most from this as an untapped market, because really for the longest time this specific demographic was highly untouched by the financial sector.

According to the World Bank, around 1.7 billion people are “unbanked” meaning that they don’t have an account with a financial institution. And the reasons for that can be plentiful, but the main cause is that banks are still exclusive to some for a variety of reasons. Some people don’t have the necessary documentation some people didn’t qualify because of other reason, some may prefer to be more in control of their money. So the fintech and the recent rends are really a “golden opportunity” as mentioned by Henry Ma for these financial institutions to gain a lot of new clients. Both executives agreed that banks actually need to behave more like tech firms in order to keep up and avoid becoming useless.

The future of Banking

It might be too early for us to start thinking about banks becoming extinct but it might be for them. With Google, Apple and Amazon offering their services for transactions and Facebook even releasing its own cryptocurrency, it’s becoming evident that traditional banks have some competition. It’s not necessarily exclusive of banks, because these companies don’t really have the licensing to conduct these transactions, so they definitely need the backing of the banks and that what apple and google are doing, with Google giving more power to its partners. This is an inevitable process that will force more and more banks to seek the opportunities to incorporate more fintech into their banking systems and to collaborate with different companies that already have the trust of the consumers.

This doesn’t mean that banks don’t bring anything to these collaborations, besides their licenses to conduct these transactions. Banks have the capacity to compensate for the overall mistrust that surrounds most of these major companies, who have previously mishandled customer information.

This is a big reason why Facebook’s cryptocurrency – libra is getting so much pushback and is getting abandoned by major partners like visa and Mastercard that pulled out of the project because of Facebook’s unwillingness to embrace regulations that come with working companies like Visa and MasterCard to who answers o regulators. So these companies thought more innovative still lack a lot of qualities that banks bring to the table.

Comments made by Rafalovksy encapsulate the approach that will most likely bring the results that can be beneficial for all parties involved. It’s important that the banks are well-attended to the needs and standards of their customers and embrace technological innovations while maintaining their regulatory systems that make people trust these entities in the first place.

Like the chief tech officer of Sberbank said many banks, perhaps not all but many, are well-positioned to build brand new products. Banks really have to master technology in order to increase customer convenience and to keep them from going to less regulated, newer companies.

By ForexNewsNow

 

 

Trade Talks Continue, But Still No Deal

By Orbex

Trade Talks Continue

Risk sentiment remains surprisingly resilient this week given that US-China trade negotiations have stuttered recently.

President Trump and Chinese Premier Xi were supposed to have signed a trade deal this weekend at the APEC meeting in Chile. However, the meeting was canceled, leaving the two leaders without a venue to sign the deal.

As of last week, the countries’ leaders were looking to appoint a new venue to sign the deal. This essentially means that, for now, the deal is in limbo.

The nature of these talks remains fragile. In fact, just a few months ago, talks broke down and fresh tariffs were introduced. And yet, despite all that, traders are displaying a great deal of optimism.

Further Tariffs Threat

The US has warned China, or threatened rather, that if a deal is not done by December 15th, they will apply a further round of tariffs on $156 billion of Chinese goods.

For now, it seems the market is banking on the fact that China will want to avoid incurring further tariffs. This is especially true in light of recent data weakness showing the damage suffered by the Chinese economy.

Weekend Talks

Over the weekend, high-level officials from the two countries engaged in further talks. According to reports, these went well and have helped keep negotiations on course for a deal.

Chinese VP Liu He, China’s chief negotiator, spoke with Steve Mnuchin, the Treasury Secretary, and Robert Lighthizer, the US Trade Representative.

Following the talks, the Chinese commerce ministry released a statement saying that communications had been “constructive.” It said that they had agreed to keep in close contact ahead of signing the “phase one” deal.

Huawei Restrictions Lifted

Aside from the statements, recent actions from both sides have also been encouraging. China recently dismantled restrictions on US poultry imports. This was a gesture of good faith that the US promptly returned. The Trump administration extended a license allowing domestic firms to continue their dealings with Huawei.

The reversal of restrictions on Huawei is a significant indication of the US’ willingness to make a deal. Earlier in the year, the addition of Huawei to the Entities list (a list of Chinese companies prohibited from working with US firms) marked a severe escalation in US-China trade tensions.

Now, with Huawei allowed to deal with US firms again, relations are in much better health. Therefore, the road to a deal looks much clearer.

White House economic adviser Larry Kudlow told reporters last week “we are coming down to the short strokes” and are “in communication with them every single day.”

However, he did acknowledge that a deal was “not done yet.” For now, traders await further headlines. Though with equities well in the green today, it is clear that expectations are geared towards a deal being done soon.

Technical Perspective

The SPX500 continues to trade into fresh highs. The market has now broken above the bullish channel which has framed recent price action, reflecting an acceleration of demand. The previous highs of 2019 at 3027.92 remain the only local marker to note, offering support. While above this level, focus is on further upside.

By Orbex

 

EURUSD Analysis: Inflation decline bearish for EURUSD

By IFCMarkets

Inflation decline bearish for EURUSD

The euro-zone headline inflation declined to 0.7% in October 2019 from 0.8% in September. Will the EURUSD decline?

EURUSD rising above MA(200)

The price chart on 1-hour timeframe shows EURUSD: H1 is in uptrend. The price is rising above the 200-period moving average MA(200) which is level. The RSI oscillator is above 50 level and has not reached the overbought zone.

Technical Analysis Summary

Order Buy
Buy stop Above 1.1067
Stop loss Below 1.1047

Market Analysis provided by IFCMarkets

Forex Technical Analysis & Forecast 18.11.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has reached the target at 1.1055; right now, it is moving upwards. Possible, the pair may reach 1.1068. Later, the market may start a new correction towards 1.1030 and then form one more ascending structure with the target at 1.1074.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is moving upwards. Possibly, the pair may reach 1.2948 and then form a new descending structure with the target at 1.2864.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9893. If later the price breaks this range to the downside at 0.9886, the market may resume moving downwards to reach 0.9862; if to the upside at 0.9902 – start a new growth with the target at 0.9920.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

After forming the consolidation range around 108.68, USDJPY has broken it upwards. Possible, the pair may grow to reach 109.14 and then form a new descending structure towards 108.28. After that, the instrument may break this level to the downside and then continue trading downwards with the short-term target at 106.60.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating above 0.6810. Possibly, today the pair may form one more ascending structure with the short-term target at 0.6826. After that, the instrument may start a new decline towards 0.6804 and then resume growing to reach 0.6844.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 63.86. Today, the pair may break the channel upwards to reach the target at 64.14. Later, the market may resume trading downwards to reach 63.95 and then form one more ascending structure with the target at 64.54.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is moving downwards to reach 1.3213. After that, the instrument may start a new growth towards 1.3225 and then resume falling with the short-term target at 1.3199.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is consolidating above 1464.00. If later the pair breaks this level to the downside, the price may fall to break 1459.00 and then continue trading downwards with the target at 1450.60. However, if the market breaks 1469.30 to the upside, the instrument may continue the correction to reach 1480.50.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After breaking 62.82 and reaching 63.80, Brent is falling back to 62.82. Later, the market may grow to break 63.80 to the upside and then continue trading inside the uptrend with the target 64.30.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD continues consolidating above 8425.00. Possibly, today the pair may fall to reach 8245.00 and then start another growth to return to 8425.00. Later, the market may resume falling with the target at 8050.00.

BITCOIN

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Fibonacci Retracements Analysis 18.11.2019 (GOLD, USDCHF)

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is correcting after completing the descending wave; right now, it is testing the area between 50.0% and 61.8% fibo. The next downside target may be 76.0% fibo at 1438.05 and the fractal low at 1400.49. The descending MACD indicator confirms further decline.

GOLD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows more detailed structure of the current correction after the convergence on MACD. By now, the correctional uptrend has already reached 38.2% fibo and may yet continue towards 50.0% and 61.8% fibo at 1480.80 and 1489.10 respectively. However, if the price breaks the low at 1445.60, the instrument may resume trading inside the downtrend.

GOLD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is still correcting between 23.6% and 50.0% fibo; right now, it is testing 38.2% fibo. Considering the current descending impulse, the main scenario implies further decline towards 61.8% fibo at 0.9801.

USDCHF_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is correcting after the convergence on MACD and has almost reached 38.2% fibo at 0.9912. The next upside target may be 50.0% fibo at 0.9924. The support is the low at 0.9870.

USDCHF_H1

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

The US Dollar Is Declining. Investors Assess the Situation Concerning US-China Trade Negotiations

by JustForex

Last week, the US dollar closed with a decline against a basket of currency majors. The dollar index (#DX) moved away from local highs and closed in the red zone. The US has published some ambiguous economic releases. At the same time, Fed Chairman Jerome Powell said the US economy was stable and the official did not see a risk of recession. In the near future, the regulator plans to keep interest rates at current levels. Financial market participants continue to monitor the settlement of the trade conflict between Washington and Beijing.

White House economic adviser, Larry Kudlow, said China and the US were approaching an end to their trade war, which has been going on for 16 months. On Sunday, Xinhua, China’s news agency, reported that the parties had “constructive talks” via the phone, but they didn’t give any information about it.

The “black gold” prices have been growing. Currently, futures for the WTI crude oil are testing the $57.80 mark per barrel.

Market Indicators

On Friday, there was the bullish sentiment in the US stock markets: #SPY (+0.72%), #DIA (+0.61%), #QQQ (+0.73%).

The 10-year US government bonds yield has not changed. At the moment, the indicator is at the level of 1.84-1.85%.

The Economic News Feed for 18.11.2019:
  • Today, the publication of important economic news is not expected.

by JustForex

The Analytical Overview of the Main Currency Pairs on 2019.11.18

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.10209
  • Open: 1.10527
  • % chg. over the last day: +0.26
  • Day’s range: 1.10484 – 1.10646
  • 52 wk range: 1.0884 – 1.1623

EUR/USD currency pair is in a bullish sentiment. The trading instrument has set new local highs. EUR/USD quotes found resistance at the level of 1.10650. 1.10400 is already a mirror support. Sentiment in the financial markets has improved amid optimistic news on the settlement of the trade conflict between Washington and Beijing. White House spokesman Larry Kudlow said the parties are close to making a deal. We recommend that you keep track of current information on this issue. EUR/USD can grow further. You should open positions from key levels.

The Economic News Feed for 18.11.2019 is calm.

EUR/USD

The price fixed above 50 MA and 100 MA, which signals the strength of buyers.

The MACD histogram is in the positive zone and continues to rise, indicating a further recovery of the EUR/USD currency pair.

Stochastic Oscillator has started to leave the overbought zone, the %K line is below the %D line, which indicates a bearish sentiment.

Trading recommendations
  • Support levels: 1.10400, 1.10150, 1.09900
  • Resistance levels: 1.10650, 1.10900, 1.11000

If the price consolidates above 1.10650, expect further correction to the round level of 1.11000.

Alternatively, the quotes could drop toward 1.10250-1.10000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.28809
  • Open: 1.29214
  • % chg. over the last day: +0.14
  • Day’s range: 1.29095 – 1.29516
  • 52 wk range: 1.1959 – 1.3385

The GBP/USD currency pair is showing aggressive purchases. Sterling updated key extremes. At the moment, GBP/USD quotes are testing the resistance level of 1.29500. Mark 1.29150 is already a mirror support. A trading instrument has the potential for further growth. We recommend keeping track of up-to-date information regarding the Brexit process. Open positions from key levels.

The news background on the UK economy is calm.

GBP/USD

The price fixed above 50 MA and 100 MA, which signals the power of buyers.

The MACD histogram is in the positive zone and above the signal line, which gives a strong signal to buy GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.29150, 1.28850, 1.28600
  • Resistance levels: 1.29500, 1.30000

If the price consolidates above 1.29500, expect further growth toward 1.30000.

Alternatively, the quotes could descend toward 1.28900-1.28700.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32478
  • Open: 1.32230
  • % chg. over the last day: -0.18
  • Day’s range: 1.32097 – 1.32249
  • 52 wk range: 1.2727 – 1.3664

The USD/CAD currency pair is dominated by bearish sentiment. At the moment, Looney is consolidating near key extremes. The trading tool is testing the support level of 1.32100. 1.32350 is the nearest resistance. USD / CAD quotes have the potential to further decline. The Canadian dollar is supported by the positive dynamics of oil quotes. We recommend opening positions from key levels.

The Economic News Feed for 18.11.2019 is calm.

USD/CAD

The price fixed below 50 MA and 100 MA, which signals the power of sellers.

The MACD histogram is in the negative zone and continues to decline, which gives a strong signal to sell USD/CAD.

The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.32100, 1.31900, 1.31600
  • Resistance levels: 1.32350, 1.32700

If the price consolidates below 1.32100, further correction of the USD/CAD currency pair is expected toward 1.31800-1.31600.

Alternatively, the quotes could grow toward 1.32600-1.32800.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 108.384
  • Open: 108.783
  • % chg. over the last day: +0.31
  • Day’s range: 108.669 – 108.949
  • 52 wk range: 104.97 – 114.56

The USD/JPY currency pair has moved up. The trading tool has updated local highs. At the moment, quotes are testing a mirror resistance level of 108.900. The 108.650 mark is the immediate support. Demand for safe haven currencies has weakened amid the prospects for resolving a trade conflict between the US and China. We do not exclude further growth of the USD/JPY quotes. We recommend that you pay attention to the dynamics of yield on US government bonds. Open positions from key levels.

The Economic News Feed for 18.11.2019 is calm.

USD/JPY

Indicators do not give accurate signals, the price crossed 50 MA and 100 MA.

The MACD histogram is in the positive zone and continues to rise, which gives a strong signal to buy USD/JPY.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a bearish sentiment.

Trading recommendations
  • Support levels: 108.650, 108.400, 108.250
  • Resistance levels: 108.900, 109.150, 109.300

If the price consolidates above 108.900, expect the quotes to rise toward 109.150-109.300.

Alternatively, the quotes could descend toward 108.500-108.300.

by JustForex