Brazil's economic activity remained poor in 3Q, with the industrial sector still a drag. Industrial activity in Sao Paulo, the country's largest and most-industrialized state , dropped 2.3% sequentially in 3Q, says state industrial federation FIESP. "The year will end worse for the industry than in 2015. Maybe the GDP does not fall as much as last year, but industry performance will be worse in 2016."
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
Friday, October 28, 2016
Monday, October 24, 2016
EUR/GBP
Summary :
Target Level : 0.9027
Target Period : 2 days
Analysis :
Channel Down identified at 24-Oct-04:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 0.9027 within the next 2 days.
Resistance Levels :
( B ) 0.9027Last resistance turning point of Channel Down.
Support Levels
( A ) 0.8881Last support turning point of Channel Down.
Target Level : 0.9027
Target Period : 2 days
Analysis :
Channel Down identified at 24-Oct-04:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 0.9027 within the next 2 days.
Resistance Levels :
( B ) 0.9027Last resistance turning point of Channel Down.
Support Levels
( A ) 0.8881Last support turning point of Channel Down.
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Monday, October 17, 2016
EUR/USD
Summary :
Target Level : 1.1056
Target Period : 2 days
Analysis :
Falling Wedge identified at 17-Oct-03:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.1056 within the next 2 days.
Supporting Indicators :
RSI below 40
Resistance Levels :
( B ) 1.1056Last resistance turning point of Falling Wedge.
Support Levels
( A ) 1.0964Last support turning point of Falling Wedge.
Target Level : 1.1056
Target Period : 2 days
Analysis :
Falling Wedge identified at 17-Oct-03:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.1056 within the next 2 days.
Supporting Indicators :
RSI below 40
Resistance Levels :
( B ) 1.1056Last resistance turning point of Falling Wedge.
Support Levels
( A ) 1.0964Last support turning point of Falling Wedge.
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Friday, October 14, 2016
GMT Many corporate clients EUR/GBP
GMT Many corporate clients who export to the U.K. or those with production in the U.K. have so far chosen not to hedge their sterling exposure and are waiting instead to see if the pound turns higher, says an analyst at a Scandinavian bank. This is a risky strategy and could mean a scramble to hedge exposures once sterling breaks below key levels, such as below $1.20 in GBP/USD, the analyst says. "It is very risky because if sterling falls further they could fix at an even lower rate." GBP/USD trades at $1.2216, EUR/GBP at 0.9023
GBP/USD has shown limited movement
•GBP/USD has shown limited movement in the Thursday session
•1.2120 is providing support
•There is resistance at 1.2447
Further levels in both directions:
•Below: 1.2120, 1.1954 and 1.1844
•Above: 1.2447, 1.2525 and 1.2612
•Current range: 1.2120 to 1.2447
GBP/USD ratio is unchanged on Friday, consistent with the lack of movement from GBP/USD. Currently, long positions have a solid majority (60%). This is indicative of trader bias towards GBP/USD breaking out and moving to higher ground.
GBP/USD is unchanged in the Friday session, continuing the lack of activity seen on Thursday. Early in the North American session, the pair is trading at 1.2230. On the release front, the markets have plenty of US numbers to digest, as retail sales and inflation readings were strong. Retail Sales rebounded from a decline last month, posting a strong gain of 0.6%. and matching the forecast. Core Retail Sales improved to 0.3%, edging above the estimate of 0.2%. PPI climbed 0.3%, beating the estimate of 0.2%. Later in the day, we’ll get a look at the UoM Consumer Sentiment report. The markets are expecting the indicator to climb to 92.1 points.
•1.2120 is providing support
•There is resistance at 1.2447
Further levels in both directions:
•Below: 1.2120, 1.1954 and 1.1844
•Above: 1.2447, 1.2525 and 1.2612
•Current range: 1.2120 to 1.2447
GBP/USD ratio is unchanged on Friday, consistent with the lack of movement from GBP/USD. Currently, long positions have a solid majority (60%). This is indicative of trader bias towards GBP/USD breaking out and moving to higher ground.
GBP/USD is unchanged in the Friday session, continuing the lack of activity seen on Thursday. Early in the North American session, the pair is trading at 1.2230. On the release front, the markets have plenty of US numbers to digest, as retail sales and inflation readings were strong. Retail Sales rebounded from a decline last month, posting a strong gain of 0.6%. and matching the forecast. Core Retail Sales improved to 0.3%, edging above the estimate of 0.2%. PPI climbed 0.3%, beating the estimate of 0.2%. Later in the day, we’ll get a look at the UoM Consumer Sentiment report. The markets are expecting the indicator to climb to 92.1 points.
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