Euro flies into the abyss

The disappointing statistics on US retail sales for December only temporarily stopped the bears in EUR / USD. The US economy slows down to 2% in the fourth quarter, according to JP Morgan. The Fed does not begin to raise the federal funds rate in 2019,…

Review of the foreign exchange market on 02/15/2019

Yesterday was incredibly interesting and intense but most importantly, extremely diverse in terms of the behavior of certain currencies. For example, the single European currency behaved quite academically, strictly obeying the logic of published macro…

Technical analysis of NZD/USD for February 15, 2019

Overview: The NZD/USD pair breached resistance which had turned into strong support at the level of 0.6705 this week. The level of 0.6705 coincides with a golden ratio, which is expected to act as major support today. The RSI is considered to be over…

Technical analysis of USD/CHF for February 15, 2019

Overview: The USD/CHF pair continues to move upwards from the level of 1.0003. Today, the first support level is currently seen at 1.0003, the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at t…

BITCOIN Analysis for February 15, 2019

Bitcoin is currently trading above $3,600 with the view of a further climb. The price is breaking above the trend line resistance. The price is currently being contained by the Kumo Cloud resistance and held by the dynamic levels like 20 EMA, Tenkan, a…

Fundamental Analysis of EUR/GBP for February 15, 2019

EUR/GBP is currently trading at the edge of 0.8800-50 resistance area from where the price is expected to sink lower following the overall downtrend. The eurozone has been posting evidence of an economic slowdown. As a result, EUR is set to lose ground…

Simplified wave analysis of GOLD for February 15

Large-scale graphics:

The period of strengthening the gold rate began in August last year. The wave does not fully realize its potential.

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Medium scale graphics:

The ascending section of the chart, which started in mid-November, in the larger model gave rise to the final phase of the movement.

Small-scale graphics:

The descending wave of January 31 has a small stroke potential. On the TF H1 plot, the plot corrects the previous climb, before the next jerk in the main direction.

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Forecast and recommendations:

The period of price correction of gold may end as early as next week. A reference point can serve as a new calendar, in which the most important will be news from the United States. Traders are advised to track the buy signals of the instrument.

Resistance zones:

– 1375.0 / 1380.0

Support areas:

– 1300.0 / 1295.0

Explanatory notes for the figures: The simplified wave analysis uses waves consisting of 3 parts (A – B – C). The analysis uses 3 consecutive scale graph. Each of them analyzes the last, incomplete wave. Zones show calculated areas with the highest probability of reversal. The arrows indicate the wave marking by the method used by the author. The solid background shows the formed structure, the dotted – the expected movement.

Note: The wave algorithm does not take into account the duration of tool movements over time. To conduct a trade transaction, you need confirmation signals from the trading systems you use!

The material has been provided by InstaForex Company – www.instaforex.com