A bearish correction is nearing completion, the pair may rise.
Supposedly, a bearish correction has finished within the zigzag-shaped wave B that has reached a correction level of 38%. Currently, there's no confirmation that the wave ñ of B is completed, and the pair may continue declining to the next level of 50% (1.5200). A breakout at a level of 1.5435 will confirm the completion of the third wave of the zigzag while consolidation above will allow the pair to continue growing to the levels of 1.5700–1.5800.
Sell the pair from corrections below the level of 1.5435 with a target at 1.5200.
Breakout and consolidation above the level of 1.5435 will allow the pair to continue the rise up to the levels of 1.5700–1.5800.
December 2, 2016 Equities headed broadly south in Asia overnight
Revealed a solid 53.2 November ISM reading and a 0.5% October construction spending rise that followed big upward Q3 revisions, both of which lifted prospects for GDP. We also saw a 17k Thanksgiving week spike in claims that reversed the remarkably tight 333k Veteran's Day figure...
December 2, 2016 Silver lining for precious metals?
I do apologise in advance for bombarding you with lots of commodity reports, but ahead of Friday’s NFP report, the FX markets tend to create lots of false moves, so it is difficult to make much of todays moves...
December 2, 2016 Payrolls Friday. USDJPY doji, third time's a charm
Its payrolls Friday and the markets are expecting to see a solid print for November following Wednesday's ADP payrolls increase. Yesterday, the ISM and Markit's manufacturing PMI showed a strong increase in the reading...
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.