Topic: Everyday Fundamental Analysis from Paxforex - page 5. (Read 1257 times)

Video Analysis of USDCAD 20.08.2019

https://paxforex.com/forex-analysis/USDCAD-20-08-2019




ANALYSIS OF USDCAD 20.08.2019
The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.

If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.3345
• Take Profit Level: 1.3425 (80 pips)

If the price rebound from resistance level, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1.3300
• Take Profit Level: 1.3270 (30 pips)



USDJPY
A possible short position in the breakdown of the level 106.30

GOLD
A possible long position at the breakout of the level 1505.00

USDCHF
A possible short position in the breakdown of the level 0.9790

EURUSD
A possible short position in the breakdown of the level 1.1070

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https://paxforex.com/forex-analysis/NZDSGD-19-08-2019

Video Analysis of NZDSGD 19.08.2019



ANALYSIS OF NZDSGD 19.08.2019
The price is below the moving average of 20 MA and MA 200, indicating the downward trend.
MACD is below the zero level.
The oscillator Force Index is below the zero levels.
 
If the level of support is broken, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 0.8875
• Take Profit Level: 0.8820 (55 pips)
 
If the price rebound from support level, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 0.8900
• Take Profit Level: 0.8930 (30 pips)
 
 
USDCHF
A possible long position at the breakout of the level 0.9810
 
USDJPY
A possible long position at the breakout of the level 106.50
 
EURUSD
A possible short position in the breakdown of the level 1.1080
 
GBPUSD
A possible short position in the breakdown of the level 1.2120

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Gold Fundamental Analysis – August 16th 2019
https://paxforex.com/forex-fundamental-analysis



Gold prices extended their sharp rally and the breakout above the psychological $1,500 mark has further enhanced bullish sentiment. Economic data out of Asia offered more recession signals for the global economy. The New Zealand Business Manufacturing PMI slid into contractionary territory below 50 with a downward revision to the previous month. While the Singapore trade surplus for July came in higher than expected, on an annualized basis it is contracting with non-oil exports slumping. The Hong Kong riots are also darkening the overall economic outlook for Asian economies. Will gold be able to extend its rally? This morning’s fundamental analysis will take a look at the next resistance level for this precious metal as well as the downside risk for a potential short-term sell-off due to profit taking.

Trade data out of the Eurozone will be next for forex traders and economists expect the surplus to shrink as global trade is slowing. The US inverted yield curve is flashing a recession signal for the US with German banks amongst the Eurozone weakest financial institutions. Housing data out of the US is anticipated to show a recovery after an overall weak year, but consumers extended their purchases as indicated by yesterday’s retail sales data. Consumer confidence data will offer the final economic data point for this trading week. How will this impact price action in Gold? Subscribe to the PaxForex Daily Fundamental Analysis and join our fast growing community of profitable forex traders!

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KEY FUNDAMENTAL FACTORS FOR GOLD
Here are the key factors to keep in mind today for Gold trades:

New Zealand Business Manufacturing PMI: The New Zealand Business Manufacturing PMI for July was reported at 48.2. Forex traders can compare this to the New Zealand Business Manufacturing PMI for June which was reported at 51.1.
Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for the period ending August 9th was reported at ¥173.1B and Japanese Buying Foreign Stocks was reported at ¥62.0B. Forex traders can compare this to Japanese Buying Foreign Bonds for the period ending August 2nd which was reported at ¥292.0B and to Japanese Buying Foreign Stocks which was reported at ¥95.3B. Foreign Buying Japanese Bonds for the period ending August 9th was reported at ¥545.5B and Foreigners Buying Japanese Stocks was reported at -¥187.0B. Forex traders can compare this to Foreign Buying Japanese Bonds for the period ending August 2nd which was reported at ¥179.9B and to Foreigners Buying Japanese Stocks which was reported at -¥339.9B.
Singapore Trade Balance: The Singapore Trade Balance for July was reported at $2.830B. Forex traders can compare this to the Singapore Balance for June which was reported at $2.450B. Non-Oil Exports for July increased by 3.7% monthly and decreased by 11.2% annualized. Economists predicted an increase of 2.7% and a decrease of 15.2%. Forex traders can compare this to Non-Oil Exports for June which decreased by 7.8% monthly and by 17.4% annualized.
New Zealand Non Resident Bond Holdings: New Zealand Non Resident Bond Holdings for July were reported at 51.7%. Forex traders can compare this to New Zealand Non Resident Bond Holdings for June which were reported at 50.3%.
Eurozone Trade Balance: The Eurozone Trade Balance for June is predicted at €16.3B. Forex traders can compare this to the Eurozone Trade Balance for May which was reported at €23.0B.
US Housing Starts and Building Permits: US Housing Starts for July are predicted to increase by 0.2% monthly at 1,255K starts and Building Permits are predicted to increase by 3.1% monthly to 1,270K permits. Forex traders can compare this to US Housing Starts for June which decreased by 0.9% monthly to 1,253K starts and to Building Permits which decreased by 6.1% monthly to 1,220K permits.
US Michigan Consumer Sentiment: Preliminary US Michigan Consumer Sentiment for August is predicted at 97.2. Forex traders can compare this to US Michigan Consumer Confidence for July which was reported at 98.4. Preliminary Current Conditions for August are expected at 110.4 and Preliminary Expectations are predicted at 89.0. Forex traders can compare this to Current Conditions for July which were reported at 110.7 and to Expectations which were reported at 90.5.
Should price action for Gold remain inside the or breakout above the 1,507.85 to 1,527.65 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1,516.50
Take Profit Zone: 1,590.10 – 1,619.85
Stop Loss Level: 1,500.85
Should price action for Gold breakdown below 1,507.85 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1,494.00
Take Profit Zone: 1,457.70 – 1,472.00
Stop Loss Level: 1,507.85
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Do you hedge your forex trading account properly and protect it from downside risk? Find out how to properly secure your forex investment at PaxForex where you can grow your portfolio trade-by-trade!

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AUDUSD Fundamental Analysis – August 15th 2019


The Australian Dollar advanced during the Asian trading session as consumer inflation expectations rose and the labor market surprised to the upside by adding 41.4K jobs. The AUDUSD elevated from string support levels as the US Dollar is coming under more selling pressure after the 30-Year Treasury Yield dropped to a new all-time low and the 2-Year/10-Year yield curve inverted, a strong recession signal. Can price action accelerate further to the upside? Today’s fundamental analysis will analyze the upside potential in the AUDUSD as well as evaluate the downside risk.

Forex traders will get a wave of US economic data today which is expected to move the US Dollar. Retail sales will share the attention with industrial and manufacturing production data. Did the US consumer continue to borrow and support the economy in the wake of the US-China trade war? The US bond market flashed its first recession signal since 2015 as the economy is cooling around the globe. How much longer can the US Dollar attract safe haven investors? Subscribe to the PaxForex Daily Fundamental Analysis and take the profitable side of this AUDUSD trade!

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KEY FUNDAMENTAL FACTORS FOR THE AUDUSD
Here are the key factors to keep in mind today for Australian Dollar trades:

Australian Consumer Inflation Expectations: Australian Consumer Inflation Expectations for August increased by 3.5% annualized. Forex traders can compare this to Australian Consumer Inflation Expectations for July which increased by 3.2% annualized.
Australian Employment Report: The Australian Employment Change for July was reported at 41.4K. Economists predicted a figure of 14.0K. Forex traders can compare this to the Australian Employment Change for June which was reported at 0.5K. The Unemployment Rate for July was reported at 5.2%. Economists predicted a reading of 5.2%. Forex traders can compare this to the Unemployment Rate for June which was reported at 5.2%. 34.5K Full-Time Positions and 6.7K Part-Time Positions were created in July. Forex traders can compare this to the creation of 21.0K Full-Time Positions and to the loss of 23.3K Part-Time Positions which were reported in June. The Labor Force Participation Rate for July was reported at 66.1%. Economists predicted a reading of 66.0%. Forex traders can compare this to the Labor Force Participation Rate for June which was reported at 66.0%.
RBA FX Transactions: RBA FX Transactions for July were reported at A$837M. Forex traders can compare this to RBA FX Transactions for June which were reported at A$1,478M. RBA FX Government Transactions for July were reported at -A$961M and RBA FX Other Transactions were reported at A$4,377M. Forex traders can compare this to RBA FX Government Transactions for June which were reported at -A$1,546 and to RBA FX Other Transactions which were reported at A$3,845M.
Chinese New Home Prices: Chinese New Home Prices for July increased by 0.59% monthly. Forex traders can compare this to Chinese New Home Prices for June which increased by 0.66% monthly.
Here are the key factors to keep in mind today for US Dollar trades:

US Empire Manufacturing Index: The US Empire Manufacturing Index for August is predicted at 1.9. Forex traders can compare this to the US Empire Manufacturing Index for July which was reported at 4.3.
US Non-Farm Productivity and Unit Labor Costs: Preliminary US Non-Farm Productivity for the second-quarter is predicted to increase by 1.4% quarterly and Unit Labor Costs are predicted to increase by 1.8% quarterly. Forex traders can compare this to US Non-Farm Productivity for the first-quarter which increased by 3.4% quarterly and to Unit Labor Costs which decreased by 1.6% quarterly.
US Philadelphia Fed Business Outlook: The Philadelphia Fed Business Outlook for August is predicted at 10.0. Forex traders can compare this to the Philadelphia Fed Business Outlook for July which was reported at 21.8.
US Advanced Retail Sales: US Advanced Retail Sales for July are predicted to increase by 0.3% monthly and Retail Sales Less Autos are predicted to increase by 0.4% monthly. Forex traders can compare this to US Advanced Retail Sales for June which increased by 0.4% monthly and to Retail Sales Less Autos which increased by 0.4% monthly. Retail Sales Less Autos and Gas for July are predicted to increase by 0.5% monthly and Retail Sales Control Group are predicted to increase by 0.4% monthly. Forex traders can compare this to Retail Sales Less Autos and Gas for June which increased by 0.7% monthly and to Retail Sales Control Group which increased by 0.7% monthly.
US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of August 10th are predicted at 212K and US Continuing Claims for the week of August 3rd are predicted at 1,685K. Forex traders can compare this to US Initial Jobless Claims for the week of August 3rd which were reported at 209K and to US Continuing Claims for the week of July 27th which were reported at 1,684K.
US Industrial Production and Manufacturing Production: US Industrial Production for July is predicted to increase by 0.1% monthly and Manufacturing Production is predicted to decrease by 0.3% monthly. Forex traders can compare this to US Industrial Production for June which was reported flat at 0.0% monthly and to Manufacturing Production which increased by 0.4% monthly. Capacity Utilization for July is predicted at 77.8%. Forex traders can compare this to Capacity Utilization for June which was reported at 77.9%.
US NAHB Housing Market Index: The US NAHB Housing Market Index for August is predicted at 66. Forex traders can compare this to the US NAHB Housing Market Index for July which was reported at 65.
US Business Inventories: US Business Inventories for June are predicted to increase by 0.1% monthly. Forex traders can compare this to US Business Inventories for May which increased by 0.1% monthly.
Should price action for the AUDUSD remain inside the or breakout above the 0.6745 to 0.6815 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 0.6780
Take Profit Zone: 0.7020 – 0.7080
Stop Loss Level: 0.6735
Should price action for the AUDUSD breakdown below 0.6745 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 0.6735
Take Profit Zone: 0.6565 – 0.6635
Stop Loss Level: 0.6780
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Make sure to check your inbox for your MetaTrader4 login information so that you can be on your way to start your profitable forex career at PaxForex with the help of our expert analysts.

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https://paxforex.com/forex-analysis/NZDUSD-15-08-2019Video Analysis of NZDUSD 15.08.2019

ANALYSIS OF NZDUSD 15.08.2019
The price is below the moving average of 20 MA and MA 200, indicating the downward trend.
MACD is below the zero level.
The oscillator Force Index is below the zero levels.
 
If the level of support is broken, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 0.6420
• Take Profit Level: 0.6380 (40 pips)
 
If the price rebound from support level, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 0.6470
• Take Profit Level: 0.6500 (30 pips)
 
 
USDCHF
A possible long position at the breakout of the level 0.9770
 
USDJPY
A possible long position at the breakout of the level 106.95
 
EURUSD
A possible short position in the breakdown of the level 1.1130
 
GBPUSD
A possible short position in the breakdown of the level 1.2040

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Analysis of EURJPY 13.08.2019

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The price is below the moving average of 20 MA and MA 200, indicating the downward trend.
MACD is below the zero level.
The oscillator Force Index is below the zero levels.

If the level of support is broken, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 117.50
• Take Profit Level: 116.50 (100 pips)

If the price rebound from a support level, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 118.30
• Take Profit Level: 118.80 (50 pips)


GOLD
A possible long position at the breakout of the level 1528.00

USDCHF
A possible short position in the breakdown of the level 0.9680

GBPUSD
A possible short position in the breakdown of the level 1.2035

USDJPY
A possible short position in the breakdown of the level 105.00

Yen takes advantage of trade uncertainty

https://paxforex.com/forex-fundamental-analysis/yen-takes-advantage-of-trade-uncertainty

The dollar continues to defend itself against the safe-haven yen in Monday's foreign exchange trading, as the trade dispute between China and the United States seems to have dragged on. Since no settlement is yet to be expected, the Japanese currency is confidently taking advantage, even though the holidays in Japan and Singapore have led to not very active trading.
 

POLITICAL UNCERTAINTY INTENSIFIED
Political uncertainty intensified after the US President Donald Trump said on Friday that he is not ready to make a deal with China, and even questioned the September round of trade talks.

On Monday, the dollar was negative at 7.0925 yuan after the statistics of the Chinese central bank turned out to be stronger than market expectations.
This helped dispel some fears that Beijing would use its currency as a weapon in its trade war with the United States.

A week ago, for the first time since 2008, China allowed its currency to depreciate against the dollar to 7, which, according to some, offset the imposed US tariffs. The changes put pressure on the currencies of developing countries throughout Asia and gave impetus to the growth of the Japanese yen.
Goldman Sachs cut its forecast for US economic growth over the weekend, warning that a trade deal with China was becoming increasingly unlikely before the 2020 presidential election and that the risks of a recession are thereby increasing.

This week, traders' attention will be focused on Chinese data on retail sales in July and industrial production, which will assess the impact of a long struggle with the United States on domestic trade.

Market attention will also be focused on the annual US Federal Reserve System Symposium in Jackson Hole, which will take place later this week, where investors hope to get some clarity about the future interest rate.

The US dollar fell against the yen to 105.40 level, staying near the seven-month low of 105.25 reached on Friday. The euro fell to 118.16 yen, while the EURJPY pair is near the April 2017 low.

Similarly, the pound fell to depths that have not been visited since 2016 - at around 126.69 yen and GBPJPY lost more than eight yen in just two weeks.
In addition, the pound hit a two-year low against the dollar on Friday after data showed that the UK economy unexpectedly fell in the second quarter, only reinforcing the bearish sentiment about Brexit without a deal.

Sterling was trading at $ 1.2020 - not far from the lows of January 2017.

The Australian regulator lowered its estimates for a number of major currencies, as it now expects that “nothing positive will happen” on the front of the trade, at least until the beginning of 2020. The central bank expects the dollar to be generally stable amid weakening policies of other major central banks.

Start earning on Forex >

 

FOREX TRADING RECOMMENDATIONS:

EURUSD: Buy. Entry point – 1, 1206. Take profit – 1, 1225. Stop Loss – 1, 1174.

USDCHF: Buy. Entry point – 0, 972. Take profit – 0, 9739. Stop Loss – 0, 9688.

USDJPY:  Buy. Entry point – 105, 36. Take Profit – 105, 58. Stop Loss – 104, 99.
 

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Trusted Worldwide over a Decade
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Silver Fundamental Analysis – August 12th 2019

https://paxforex.com/forex-fundamental-analysis/silver-august-12th-2019

Forex traders will start the new trading week with a light economic calendar which showed New Zealand consumers reigned in their credit card spending for July which posted an unexpected contraction. The the Brazilian IBC-Br Economic Activity Index, expected to show a further slowdown in Latin America’s largest economy, and the US Monthly Budget Statement for July which is anticipated to show another large deficit, are the only economic releases which are likely to get any attention. Will this allow the rally in Silver, a safe haven asset, to extend? Subscribe to the PaxForex Daily Fundamental Analysis and take the profitable side of this precious metal.

The focus will remain on the People’s Bank of China as it set the Yuan Reference Rate at 7.0211 which marked the third consecutive where the Chinese central bank set this rate north of the key 7.0000 level. Forex traders are expected to watch out for this rate on a daily basis which will dictate cross-currency flows. Since commodities are priced in US Dollars in the global market, they often enjoy an inverse relationship which means a weaker US currency will drive commodity prices higher. US President Trump is trying to force his own central bank to manipulate the US Dollar and weaken it which would further boost the price of Silver. Is another breakout imminent? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this precious metal.

SILVER TECHNICAL CHART FLASHES BUY SIGNAL
The fundamental analysis outlines clear buy signals for this previous metal and the technical chart flashes a buy signal as you can see in the video below. There is plenty of upside potential. The below video noted the previous breakout above 16.100 which took price action above 17.000, but at the end of the video you can see that this bullish move has further room to extend to the upside. We are currently seeing a pause near the 17.000 mark from where a new breakout is anticipated to materialize.


Subscribe to the PaxForex Youtube Channel, the link is under the video, and get more trading video to boost your profits!

KEY FUNDAMENTAL FACTORS FOR SILVER
Here are the key factors to keep in mind today for Silver trades:

New Zealand Credit Card Spending: New Zealand Credit Card Spending for July decreased by 0.1%monthly and increased by 1.6% annualized. Economists predicted an increase of 0.6% and of 2.2%. Forex traders can compare this to New Zealand Credit Card Spending for June which was reported flat at 0.0% monthly and which increased by 1.1% annualized.
Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of August 9th are predicted at CHF583.1B and Swiss Domestic Sight Deposits are predicted at CHF475.0B. Forex traders can compare this to Swiss Total Sight Deposits for the week of August 2nd which were reported at CHF582.7B and to Swiss Domestic Sight Deposits which were reported at CHF473.9B.
Brazilian IBC-Br Economic Activity Index: The Brazilian IBC-Br Economic Activity Index for June is predicted to increase by 0.10% monthly. Forex traders can compare this to the Brazilian IBC-Br Economic Activity Index for May which increased by 0.54% monthly.
US Monthly Budget Statement: The US Monthly Budget Statement for July is predicted at -$120.0B. Forex traders can compare this to the US Monthly Budget Statement for June which was reported at -$76.9B.
SILVER TRADING SET-UP FOR AUGUST 12TH 2019
Should price action for Silver remain inside the or breakout above the 16.600 to 17.100 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 16.850
Take Profit Zone: 18.200 – 18.600
Stop Loss Level: 16.150
Should price action for Silver breakdown below 16.600 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 16.300
Take Profit Zone: 15.150 – 15.550
Stop Loss Level: 16.600
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Do you hedge your forex investment properly? With volatility on the rise, it is now more important than ever to protect your balance from downside risk, find out how from PaxForex today and join one of the fastest growing trading communities in the forex market!

Analysis of GBPJPY 9.08.2019

https://paxforex.com/forex-analysis/GBPJPY-9-08-2019

The price is below the moving average of 20 MA and MA 200, indicating the downward trend.
MACD is below the zero level.
The oscillator Force Index is below the zero levels.

If the level of support is broken, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 128.10
• Take Profit Level: 127.00 (110 pips)

If the price rebound from the support level, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 129.40
• Take Profit Level: 130.00 (60 pips)


GOLD
A possible long position at the breakout of the level 1511.00

USDJPY
A possible short position in the breakdown of the level 105.50

EURUSD
A possible short position in the breakdown of the level 1.1170

GBPUSD
A possible short position in the breakdown of the level 1.2090

Analysis of EURZAR 8.08.2019

https://paxforex.com/forex-analysis/EURZAR-8-08-2019

The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.

If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 17.0800
• Take Profit Level: 17.2200 (1400 pips)

If the price rebound from resistance level, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 16.7500
• Take Profit Level: 16.7000 (500 pips)



USDJPY
A possible short position in the breakdown of the level 105.50

GOLD
A possible long position at the breakout of the level 1510.00

USDCHF
A possible short position in the breakdown of the level 0.9690

EURUSD
A possible long position at the breakout of the level 1.1240

USDJPY Fundamental Analysis – August 8th 2019

https://paxforex.com/forex-fundamental-analysis/usdjpy-august-8th-2019

Financial markets remain under a high degree of volatility with forex traders zoomed in on the People Bank of China and where it sets the Yuan rate, which for the first time was placed above the key 7.00 mark. While US president Trump is using Twitter to express his anger and claim victory is near, China reported a surprise increase in exports which saw its trade surplus swell further. The USDJPY came under more selling pressure, will bears force a breakdown below support or will bulls hold their ground? Follow the PaxForex Daily Fundamental Analysis and take the profitable side of this trade!

Here are the key factors to keep in mind today for US Dollar trades:

US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of August 3rd are predicted at 215K and US Continuing Claims for the week of July 27th are predicted at 1,690K. Forex traders can compare this to US Initial Jobless Claims for the week of July 27th which were reported at 215K and to US Continuing Claims for the week of July 20th which were reported at 1,699K.
US Inventories: US Preliminary Wholesale Inventories for June are predicted to increase by 0.2% monthly and US Preliminary Retail Inventories are predicted to increase by 0.2% monthly. Forex traders can compare this to US Wholesale Inventories for May which increased by 0.2% monthly and to US Retail Inventories which increased by 0.1% monthly.
Japan reported a bigger-than-expected trade surplus despite the US-China trade war as well as the one it wages with South Korea. Did Japan export more June as it saw rising issues and weaker demand moving forward? The Japanese Eco Watchers Survey for July decreased further with a depressed outlook. How will the Bank of Japan react to a strengthening Japanese Yen as forex traders flock to safe havens? Today’s fundamental analysis will take a look at price action in the USDJPY in both directions.

Here are the key factors to keep in mind today for Japanese Yen trades:

Japanese Housing Loans: Japanese Housing Loans for the second-quarter increased by 2.2% annualized. Forex traders can compare this to Japanese Housing Loans for the first-quarter which increased by 2.4% annualized.
Japanese Current Account Balance and Trade Balance: The Preliminary Japanese Current Account Balance for June was reported at ¥1,211.2B. Economists predicted a figure of ¥1,174.4B. Forex traders can compare this to the Japanese Current Account Balance for May which was reported at ¥1,594.8B. The Preliminary Japanese Adjusted Current Account Balance for June was reported at ¥1,941.9B. Economists predicted a figure of ¥1,756.5B. Forex traders can compare this to the Japanese Adjusted Current Account Balance for May which was reported at ¥1,305.7B. The Preliminary Japanese Trade Balance for June was reported at ¥759.3B. Economists predicted a figure of ¥708.0B. Forex traders can compare this to the Japanese Trade Balance for May which was reported at -¥650.9B.
Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for the period ending August 2nd was reported at ¥286.2B and Japanese Buying Foreign Stocks was reported at ¥95.3B. Forex traders can compare this to Japanese Buying Foreign Bonds for the period ending July 26th which was reported at -¥161.5B and to Japanese Buying Foreign Stocks which was reported at ¥104.1B. Foreign Buying Japanese Bonds for the period ending August 2nd was reported at ¥179.9B and Foreigners Buying Japanese Stocks was reported at -¥339.9B. Forex traders can compare this to Foreign Buying Japanese Bonds for the period ending July 26th which was reported at ¥607.4B and to Foreigners Buying Japanese Stocks which was reported at ¥36.7B.
Japanese Bank Lending: Japanese Bank Lending including Trusts for July increased by 2.3% annualized and Japanese Bank Lending excluding Trusts increased by 2.5% annualized. Forex traders can compare this to Japanese Bank Lending including Trusts for June which increased by 2.3% annualized and to Japanese Bank Lending excluding Trusts which increased by 2.4% annualized.
Japanese Eco Watchers Survey: The Japanese Eco Watchers Survey Current Index for July was reported at 41.2 and the Japanese Eco Watchers Survey Outlook Index was reported at 43.5. Economists predicted a figure of 43.3 and of 45.2. Forex traders can compare this to the Japanese Eco Watchers Survey Current Index for June which was reported at 44.0 and to the Japanese Eco Watchers Survey Outlook Index which was reported at 45.8.
Should price action for the USDJPY remain inside the or breakdown below the 105.800 to 106.450 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 106.100
Take Profit Zone: 103.750 – 104.600
Stop Loss Level: 106.650
Should price action for the USDJPY breakout above 106.450 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 106.750
Take Profit Zone: 108.400 – 109.000
Stop Loss Level: 106.450
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Is your forex investment in good hands when you are away from your trading platform? Find out today why more profitable forex traders trust PaxForex every day!

Gold Fundamental Analysis – August 7th 2019

https://paxforex.com/forex-fundamental-analysis/gold-august-7th-2019

The price of Gold is marching higher as trade tensions are escalating between the US and China. Following the announcement of new tariffs by the US, China has pulled out of the US agricultural market in a precision strike against Trump’s economic aggression. Trade tensions are only expected to worsen from here with some analysts pointing out that President Trump needs to get the trade war going as it boosts his political capital with the base of the Republican voters. How much more upside does Gold possess? Subscribe to the PaxForex Daily Fundamental Analysis today where you can grow your balance trade-by-trade.

Economic data around the globe is pointing towards a steeper slowdown than many economists anticipated. The US-China trade war is not the only one brewing as Japan and South Korea are locked into an escalating trade war of their own. As the global economy is inching closer to a recession, is now the time to hedge your forex portfolio with Gold? Today’s fundamental analysis will explore how much more upside this precious metal has left and what the downside risks are.

Here are the key factors to keep in mind today for Gold trades:

New Zealand QV House Prices: New Zealand QV House Prices for July increased by 2.2% annualized. Forex traders can compare this to New Zealand QV House Prices for June which increased by 2.0% annualized.
Australian AiG Performance of Construction Index: The Australian AiG Performance of Construction Index for July was reported at 39.1. Forex traders can compare this to the Australian AiG Performance of Construction Index for June which was reported at 43.0.
Japanese Official Reserve Assets: Japanese Official Reserve Assets for July were reported at $1,316.5B. Forex traders can compare this to Japanese Official Reserve Assets for June which were reported at $1,322.3B.
Australian Home Loans and Investment Lending: Australian Home Loans for June increased by 0.4% monthly. Economists predicted an increase of 0.5% monthly. Forex traders can compare this to Australian Home Loans for May which decreased by 0.4% monthly. Australian Investment Lending for June increased by 0.5% monthly and the Owner-Occupier Loan Value increased by 2.4% monthly. Economists predicted an increase of 0.5% and a decrease of 1.0%. Forex traders can compare this to Australian Investment Lending for May which decreased by 1.9% monthly and to Owner-Occupier Loan Value which decreased by 3.0% monthly.
Reserve Bank of New Zealand Interest Rate Announcement: The Reserve Bank of New Zealand cut interest rates by 50 basis points to 1.00%. Economists predicted a 25 basis point interest rate cut to 1.25%. Forex traders can compare this to Reserve Bank of New Zealand previous interest rate announcement were rates remained unchanged at 1.50%.
German Industrial Production: German Industrial Production for June decreased by 1.5% monthly and by 5.2% annualized. Economists predicted a decrease of 0.5% monthly and of 3.1% annualized. Forex traders can compare this to German Industrial Production for May which increased by 0.3% monthly and which decreased by 3.7% annualized.
Swiss UBS Real Estate Bubble Index: The Swiss UBS Real Estate Bubble Index for the second-quarter was reported at 0.78. Forex traders can compare this to the Swiss UBS Real Estate Bubble Index for the first-quarter which was reported at 0.80.
French Trade Balance and French Current Account Balance: The French Trade Balance for June is predicted at -€4.00B. Forex traders can compare this to the French Trade Balance for May which was reported at -€3.30B. The French Current Account Balance for June is predicted at -€0.56B. Forex traders can compare this to the French Current Account Balance for May which was reported at €0.30B.
UK Halifax House Price Index: The UK Halifax House Price Index for July is predicted to increase by 0.3% monthly and by 4.4% tri-monthly annualized. Forex traders can compare this to the UK Halifax House Price Index for June which decreased by 0.3% monthly and which increased by 5.7% tri-monthly annualized.
Chinese FX Reserves: Chinese FX Reserves for July are predicted at $3.110T. Forex traders can compare this to Chinese FX Reserves for June which were reported at $3.119T.
Canadian Ivey PMI: The Canadian Ivey PMI for July is predicted at 53.0. Forex traders can compare this to the Canadian Ivey PMI for June which was reported at 52.4.
US Consumer Credit: US Consumer Credit for June is predicted at $16.500B. Forex traders can compare this to US Consumer Credit for May which was reported at $17.086B.
Should price action for Gold remain inside the or breakout above the 1,472.00 to 1,489.90 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1,485.50
Take Profit Zone: 1,590.10 – 1,619.85
Stop Loss Level: 1,456.50
Should price action for Gold breakdown below 1,472.00 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1,452.50
Take Profit Zone: 1,357.80 – 1,381.60
Stop Loss Level: 1,485.50
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Get your PaxForex MetaTrader4 login today and join our fast growing community of profitable forex traders!

Analysis of EURAUD 7.08.2019

https://paxforex.com/forex-analysis/EURAUD-7-08-2019

The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.

If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.6800
• Take Profit Level: 1.6900 (100 pips)

If the price rebound from resistance level, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1.6600
• Take Profit Level: 1.6550 (50 pips)



USDJPY
A possible short position in the breakdown of the level 105.80

EURUSD
A possible long position at the breakout of the level 1.1220

USDCHF
A possible short position in the breakdown of the level 0.9730

GBPUSD
A possible short position in the breakdown of the level 1.2120

How Currencies’ Prices Affect The Stock Market?

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The currency market and stock market are playing a key role in international business all over the world. It is necessary to understand the relationship between both markets so that the investors may be able to invest in a better way by taking the minimum risk. One issue with using global equity markets to make forex trading decisions is figuring out which leads which. Many factors move the stock market, but the strength of a country’s currency can have a surprisingly large bearing. Rising currencies may serve to help share prices in one country and hinder them in another. It largely depends on where companies in a country make their money – home or abroad. 

Foreign currency rates have a direct impact on the price and value of stocks in foreign countries, and changes in exchange rates will increase or decrease the cost of doing business in a country, which will affect the price of stocks of companies doing business abroad. While long-term movements in exchange rates are affected by fundamental market forces of supply and demand and purchase price parity, short-term movements are driven by news, events and futures trading and are difficult to predict. Domestic investors invest more in the domestic market when there is an increase in prices of assets which in turn increase the demand for local currency and also increase the behavior of selling foreign assets.   

The increase in demand for local currency will force the interest rates to become higher which will ultimately attract the foreign investors to invest and gain maximum benefit. The exchange rate of the local currency will appreciate against foreign currency and will show a negative relationship. Traditional approach advocates that there is a positive relationship between the stock market and exchange market and the causality runs from exchange rate to the stock market. It suggests that a positive relationship between stock prices and exchange rates exists when local currency depreciates and local firms become more competitive which leads to an increase in their exports. This will result in an ultimate increase in stock prices.   

When you own shares from other countries around the globe, the diversification benefits come mainly from your currency exposure. Investments made in the U.S. are denominated in dollars, but unless you are hedging out the currency risk, owning international stocks means you are also subject to fluctuations in local currencies when converting back into dollars. When the dollar is strong, U.S. stocks tend to outperform international equities. And when the dollar is weak, international stocks tend to outperform. This is all from the perspective of a U.S.-based investor, and the relationships would be reversed for a foreign investor in U.S. stocks.   

As a currency trader, it is always good to look for correlations between other financial markets. These links can effectively indicate the price direction, which is useful when it comes to making trading decisions. As a trader, you need to remember that there is no such thing as a fixed correlation. Over time, economic circumstances can change which can alter existing correlations. Stock markets and currency markets tend to react in a fairly stable manner to something like interest rate adjustments at this moment in time. However, as economic events unfold nothing is stopping this change.

Analysis of USDCHF 6.08.2019

https://paxforex.com/forex-analysis/USDCHF-6-08-2019

The price is below the moving average of 20 MA and MA 200, indicating the downward trend.
MACD is below the zero level.
The oscillator Force Index is below the zero levels.

If the level of support is broken, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 0.9690
• Take Profit Level: 0.9600 (90 pips)

If the price rebound from the support level, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 0.9770
• Take Profit Level: 0.9800 (30 pips)


GOLD
A possible long position at the breakout of the level 1420.00

USDJPY
A possible long position at the breakout of the level 106.80

EURUSD
A possible long position at the breakout of the level 1.1250

GBPUSD
A possible long position at the breakout of the level 1.2210

https://paxforex.com/forex-blog/us-china-trade-war-escalates-further

US-China Trade War Escalates Further
US President Trump decided last week to escalate the trade he started with China by announcing a 10% tariff on $300 billion worth of Chinese imports starting September 1st 2019. This would essentially tariff all Chinese imports to the US and sources claim that he acted against the recommendation of his top advisors. After Trump announced his decision, market entered a risk-off mood as traders awaited the Chinese response. It was delivered yesterday and send US equity markets into their worst sell-off of 2019 with the Dow Jones at one point almost off by 1,000 points.

China allowed its Yuan to breach the coveted 7 mark to the upside against the US Dollar in a sign that the world’s second largest economy sees no end to the trade war. Trump, in his usual manner, took to Twitter and tweeted “China dropped the price of their currency to an almost a historic low. It’s called ‘currency manipulation.’ Are you listening Federal Reserve? This is a major violation which will greatly weaken China over time!” While the Yuan took the headlines in the forex market, this was only one part of the Chinese response to Trump’s new tariff.

The Chinese government directed companies to stop purchasing US agricultural goods and also noted that it may apply tariffs on all imports dating back to August 3rd 2019, the day Trump announced the new tariff on Chinese imports. Chris Krueger from Cowen Inc. summed up this move by adding “While there were measures that could have been chosen with larger direct effects on supply chains, the announcements from Beijing represent a direct shot at the White House and seem designed for maximum political impact. We expect a quick (and possibly intemperate) response from the White House, and consequently expect a more rapid escalation of trade tensions.” This has additionally increased expectations that the US Fed will cut interest rates again in September.

Is now the time to sell the US Dollar as the US Fed may feel forced to cut interest rates further while the US economy will accelerate its slowdown? The global economy is heading towards a global recession as US President Trump is waging his trade war which will now have a bigger direct negative impact on US consumers. Follow the PaxForex Daily Fundamental Analysis now, where you earn more pips per trade!

After the Chinese government allowed the Yuan to move past the 7 mark, investors are now wondering if China will dump some of its US Treasuries in order to retaliate against Trump’s tariffs. Stephen Roach of Yale noted “Most people didn’t think they’d use the currency weapon and they’ve used that, and used it surgically. So conceivably, they might consider other options, and you can’t rule out the Treasuries option. “ China has started to shrink its holdings which are likely to fall further. Sebastien Galy, Senior Macro Strategist at Nordea Investment Funds, noted “Once China doesn’t show up in the direct auction bids, the U.S. Treasury will know it. And their bids via indirect bids, through the banks, if China doesn’t show up, the banks will know it immediately.” The US-China trade war escalates further, but here are three trades to boost your profitability!

Forex Profit Set-Up #1; Buy AUDUSD - D1 Time-Frame

The Australian Dollar remains the top Yuan proxy currency and with US President Trump attempting to force his own central bank to slash interest rates further, the AUDUSD is poised to enter a short-covering rally. Price action is currently depleting bearish momentum inside of its horizontal support area from where a breakout is expected. This would clear the path to the upside until the AUDUSD can challenge its next horizontal resistance level and extend its rally into its primary descending resistance level. Forex traders are recommended to spread their buy orders inside of its horizontal resistance area.



The CCI is trading in extreme oversold conditions, but started to recover and is now on its way to complete a breakout above the -100 mark which is anticipated to attract the next wave of buy orders. Open your PaxForex Trading Account now and join our fast growing community of profitable forex traders!

Forex Profit Set-Up #2; Sell USDZAR - D1 Time-Frame

With the US Dollar facing a combination of headwinds, forex traders are anticipated to reduce their exposure. The USDZAR started to lose bullish momentum after price action was rejected by its horizontal resistance area, enforced by its primary descending resistance level. This currency pair is now favored to accelerate to the downside until it can test the strength of its next horizontal support level. Selling any rallies in the USDZAR into the upper band of its horizontal resistance area remains the favored trading approach.



The CCI is trading in extreme overbought territory, but off of its most recent intra-day high. This momentum indicator is now expected to plunge below 100 which is likely to accelerate the sell-off. Download your PaxForex MT4 Trading Platform and find out why more forex traders every day prefer to grow their balance at PaxForex!

Forex Profit Set-Up #3; Buy LTCUSD - D1 Time-Frame

Cryptocurrencies offer a great way to diversify into an asset class which is not as inter-connected to the rest of the global financial system as other options. LTCUSD has bounced off of the upper band of its horizontal support area which resulted in a sharp increase in bullish momentum. Price action has been guided higher by its secondary ascending support level and is now anticipated to complete a breakout above its secondary descending resistance level. This would allow LTCUSD to extend its rally until it will reach its primary descending resistance level.



The CCI briefly spiked into extreme overbought conditions, but has since reversed while remaining in bullish territory. This momentum indicator is now expected to once again accelerate to the upside. Subscribe to the PaxForex Daily Forex Technical Analysis where you can reap the easy profits as a result of the hard work of our expert analysts!

NZDJPY Fundamental Analysis – August 6th 2019

https://paxforex.com/forex-fundamental-analysis/nzdjpy-august-6th-2019



Following yesterday’s global sell-off which drove traders to safe-haven assets such as gold and bonds, forex traders are now shifting through the aftermath. A light economic calendar will ease the pressure, but US President Trump’s escalation of the trade war with China will continue to dominate. New Zealand reported a better-than-expected employment report for the second-quarter, despite the ongoing glowing slowdown which gave a boost to the New Zealand Dollar as the RBNZ lowered its inflation expectations. The NZDJPY bounced off of strong support levels, but can the recovery last? This morning’s fundamental analysis will explore the options for price action moving forward.

Here are the key factors to keep in mind today for New Zealand Dollar trades:

New Zealand Employment Data: The Unemployment Rate for the second-quarter was reported at 3.9%. Economists predicted an Unemployment Rate of 4.3%. Forex traders can compare this to the Unemployment Rate for the first-quarter which was reported at 4.2%. The Unemployment Change for the second-quarter increased by 0.8% quarterly and by 1.7% annualized. Economists predicted an increase of 0.3% quarterly and of 1.2% annualized. Forex traders can compare this to the Unemployment Change for the first-quarter which decreased by 0.1% quarterly and which increased by 1.5% annualized. The Participation Rate for the second-quarter was reported at 70.4%. Economists predicted a Participation Rate of 70.4% quarterly. Forex traders can compare this to the Participation Rate for the first-quarter which was reported at 70.4%. Private Wages ex Overtime for the second-quarter increased by 0.8% quarterly. Economists predicted an increase of 0.7% quarterly. Forex traders can compare this to Private Wages ex Overtime for the first-quarter which increased by 0.3% quarterly. Labor Cost Private Sector for the second-quarter increased by 0.8% quarterly. Economists predicted an increase of 0.7% quarterly. Forex traders can compare this to Labor Cost Private Sector for the first-quarter which increased by 0.3% quarterly. Average Hourly Earnings for the second-quarter increased by 1.1% quarterly. Economists predicted an increase of 0.5% quarterly. Forex traders can compare this to Labor Cost Private Sector for the first-quarter which increased by 1.1% quarterly.
Reserve Bank of New Zealand 2-Year Inflation Expectations: Reserve Bank of New Zealand 2-Year Inflation Expectations for the third-quarter increased by 1.86%. Forex traders can compare this to Reserve Bank of New Zealand 2-Year Inflation Expectations for the second-quarter which increased by 2.01%.
The Japanese Yen was in demand yesterday as forex traders fled to safe haven assets. The Bank of Japan cautioned markets against excessive strength in the Japanese currency and warned of intervention. Economic data released out of Japan showed better-than-expected household spending data as labor cash earnings improve. The Japanese Leading Index contracted further and a sales tax is looming over the Japanese consumer as the global economy is cooling. Is now the time to short the Japanese Yen for a short-term reversal? Follow the PaxForex Daily Fundamental Analysis and get your NZDJPY trading set-up today!

Here are the key factors to keep in mind today for Japanese Yen trades:

Japanese Household Spending: Japanese Household Spending for June increased by 2.7% annualized. Economists predicted an increase of 1.1% annualized. Forex traders can compare this to Japanese Household Spending for May which increased by 4.0% annualized.
Japanese Labor Cash Earnings and Japanese Real Cash Earnings: Japanese Labor Cash Earnings for June increased by 0.4% annualized and Japanese Real Cash Earnings decreased by 0.5% annualized. Economists predicted a decrease of 0.6% and of 1.5%. Forex traders can compare this to Japanese Labor Cash Earnings for May which decreased by 0.5% annualized and to Japanese Real Cash Earnings which decreased by 1.3% annualized.
Japanese Leading Index and Japanese Coincident Index: The Preliminary Japanese Leading Index for June was reported at 93.3 and the Preliminary Japanese Coincident Index was reported at 100.4. Economists predicted a figure of 93.5 and of 100.4. Forex traders can compare this to the Japanese Leading Index for May which was reported at 94.9 and to the Japanese Coincident Index which was reported at 103.4.
Should price action for the NZDJPY remain inside the or breakout above the 69.150 to 70.000 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 69.600
Take Profit Zone: 72.200 – 73.200
Stop Loss Level: 69.000
Should price action for the NZDJPY breakdown below 69.150 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 68.750
Take Profit Zone: 66.150 – 66.950
Stop Loss Level: 69.150
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Forex trading for beginners can be an overwhelming task, find out now how PaxForex helps every trader to get the most from the forex market and why more traders every day prefer to trade at PaxForex!

EURGBP Fundamental Analysis – August 5th 2019
https://paxforex.com/forex-fundamental-analysis/eurgbp-august-5th-2019

EUR/GBP - Forex Trading News on May 14th
Forex traders will get final PMI data out of the Eurozone for July and economists anticipate no change. Investor confidence on the other hand is predicted to slide further in August as the Eurozone economy continues to weaken. The ECB is now likely to step in which will pressure the Euro to the downside. With a no-deal Brexit on the horizon, how will the EURGBP perform over the next few weeks? Subscribe to the PaxForex Daily Fundamental Analysis and join our fast growing community of profitable forex traders!

Here are the key factors to keep in mind today for Euro trades:

Italian Services PMI and Composite PMI: The Italian Markit Services PMI for July is predicted at 50.6. Forex traders can compare this to the Italian Markit Services PMI for June which was reported at 50.5. The Italian Markit Composite PMI for July is predicted at 50.1. Forex traders can compare this to the Italian Markit Composite PMI for June which was reported at 50.1.
French Services PMI and Composite PMI: The Final French Markit Services PMI for July is predicted at 52.2 Forex traders can compare this to the previous French Markit Services PMI for for July which was reported at 52.2. The Final French Markit Composite PMI for July is predicted at 51.7. Forex traders can compare this to the previous French Markit Composite PMI for for July which was reported at 51.7.
German Services PMI and Composite PMI: The Final German Markit Services PMI for July is predicted at 55.4. Forex traders can compare this to the previous German Markit Services PMI for for July which was reported at 55.4. The Final German Markit/BME Composite PMI for July is predicted at 51.4. Forex traders can compare this to the previous German Markit/BME Composite PMI for for July which was reported at 51.4.
Eurozone Services PMI and Composite PMI: The Final Eurozone Markit Services PMI for July is predicted at 53.3. Forex traders can compare this to the previous Eurozone Markit Services PMI for for July which was reported at 53.3. The Final Eurozone Markit Composite PMI for July is predicted at 51.5. Forex traders can compare this to the previous Eurozone Markit Composite PMI for for July which was reported at 51.5.
Eurozone Sentix Investor Confidence: Eurozone Sentix Investor Confidence for August is predicted at -7.0. Forex traders can compare this to Eurozone Sentix Investor Confidence for July which was reported at -5.8.
Economists predict that the key UK services sector improved in July, despite a no deal Brexit more likely. UK services companies are working through the uncertain environment and adding more business. How will this impact the British Pound? With less than 100 days until Brexit, the British currency came under heavy selling pressure, is now the time to go long? This morning’s fundamental analysis will explore both direction in the EURGBP which has rallied into strong resistance.

Here is the key factor to keep in mind today for British Pound trades:


UK Markit/CIPS Services PMI and Markit/CIPS Composite PMI: The UK Markit/CIPS Services PMI for July is predicted at 50.4 and the UK Markit/CIPS Composite PMI is predicted at 49.8. Forex traders can compare this to the UK Markit/CIPS Services PMI for June which was reported at 50.2 and to the UK Markit/CIPS Composite PMI which was reported at 49.7.
Should price action for the EURGBP remain inside the or breakdown below the 0.9145 to 0.9200 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 0.9180
Take Profit Zone: 0.8830 – 0.8890
Stop Loss Level: 0.9235
Should price action for the EURGBP breakout above 0.9200 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 0.9245
Take Profit Zone: 0.9310 – 0.9370
Stop Loss Level: 0.9200
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Does your forex platform and your forex broker create the proper trading environment for your balance to grow? Find out why more forex traders join PaxForex every day and how this can improve your trading results!

Chinese yuan hits perennial lows

https://paxforex.com/forex-fundamental-analysis/chinese-yuan-hits-perennial-lows

The Chinese yuan fell by more than 1% to an 11-year low on Monday amid growing concerns about a sharp escalation of the US-Chinese trade war, which caused sales of other currencies in the region.

Growing concerns about global trade led investors to rush to safe-haven assets, while the Japanese yen rose to a seven-month high against the dollar.
Yuan unexpectedly broke the mark of 7 per dollar for the first time after the global financial crisis, a level that some market players consider to be the main support. Offshore yuan fell to a mark of 7.1137 per dollar.

The strongest decline in Chinese currency occurred only a few days after US President Donald Trump surprised the markets, saying that he intends to introduce additional tariffs on Chinese imports. Large investors are inclined to believe that this may be the most important point for the yuan this year.

The sharp drop occurred after Beijing vowed to resist Trump’s sharp decision to establish a 10% tariff for the remaining $ 300 billion in Chinese imports, which ended the monthly trade truce. The decline of the yuan has negatively affected many currencies in the region.

The Australian dollar, often used as an additional indicator of China's trade, fell by 0.35% to $ 0.6773, reaching a seven-month low of $ 0.6748.
The currencies of emerging market countries received an even deeper blow.

The Korean won fell by 1%, reaching a three-year low of 1,218.3 per dollar, while the new Taiwan dollar fell by more than 0.7% to a two-month low of 31.627. The Mexican peso fell by 1% to 19,507 against the USD, and the Indian rupee in the minus by 1.2% to 70.425.

The American dollar is negative against traditional safe-haven currencies. USD fell to a mark of 105, 80, the weakest indicator since January of this year. Gold reached a six-year high of $ 1,456.2 per ounce.

The yield on 10-year US Treasury bonds in Asia fell by 7.5 basis points to 1.780%, exceeding a drop of 23 basis points last week, the biggest weekly decline in seven years.

Fed futures are currently estimated at 0.75 basis points with some probability of decline.

Forex calendar >

Forex trading recommendations:

GBPUSD: Buy. Entry point – 1, 2112. Take profit – 1, 2145. Stop Loss – 1, 2056.

NZDUSD:  Buy. Entry point– 0, 6522. Take Profit – 0, 6538. Stop Loss – 0, 6495.

USDCAD:  Sell. Entry point – 1, 3231. Take Profit – 1, 3215. Stop Loss – 1, 3258.

https://paxforex.com/forex-fundamental-analysis/audusd-august-5th-2019

AUDUSD Fundamental Analysis – August 5th 2019


The Australian Dollar started the new trading week with a rise in volatility as forex traders received two reports on the the Australian services sector which were mixed with an increase in the final Composite PMI reading for July. US President Trump is increasing his trade war with China, but the final Chinese July Manufacturing PMI was revised higher. With the US Dollar coming under pressure as Chinese data shows signs of bottoming out, will the AUDUSD reverse on the back of short-covering? Today’s fundamental analysis will take a look at the upside potential as well as downside risk.

Here are the key factors to keep in mind today for Australian Dollar trades:

Australian AiG Performance of Services Index: The Australian AiG Performance of Services Index for July was reported at 43.9. Forex traders can compare this to the Australian AiG Performance of Services Index for June which was reported at 52.2.
Australian CBA Services PMI and CBA Composite PMI: The Final Australian CBA Services PMI for July was reported at 52.1. Forex traders can compare this to the previous Australian CBA Services PMI for July which was reported at 51.9. The Final Australian CBA Composite PMI for July was reported at 52.3. Forex traders can compare this to the previous Australian CBA Composite PMI for for July which was reported at 51.8.
Australian TD Securities Inflation: Australian TD Securities Inflation for July increased by 0.3% monthly and by 1.8% annualized. Forex traders can compare this to Australian TD Securities Inflation for June which was reported flat at 0.0% monthly and which increased by 1.6% annualized.
Chinese Caixin Services PMI and Chinese Caixin Composite PMI: The Chinese Caixin Services PMI for July was reported at 51.6. Economists predicted a figure of 52.0. Forex traders can compare this to the Chinese Caixin Services PMI for June which was reported at 52.0. The Chinese Caixin Composite PMI for July was reported at 50.9. Forex traders can compare this to the Chinese Caixin Composite PMI for for June which was reported at 50.6.
Last Friday’s NFP report came in as expected, the US adds workers but not hours. US Fed Chair Powell has called the US economy strong with a positive outlook after cutting interest rates by 25 basis points. Last Thursday, the ISM Manufacturing PMI came in weaker than expected. Will today’s ISM Non-Manufacturing PMI follow suit and disappoint forex traders? How will this impact the AUDUSD? Follow the PaxForex Daily Fundamental Analysis and take the profitable side of this currency pair!

Here are the key factors to keep in mind today for US Dollar trades:

US Markit Services PMI and Markit Composite PMI: The US Final Markit Services PMI for July is predicted at 52.2 and the US Final Markit Composite PMI is predicted at 51.6. Forex traders can compare this to the previous US Markit Services PMI for July which was reported at 52.2 and to the previous US Markit Composite PMI which was reported at 51.6.
US ISM Non-Manufacturing PMI: US ISM Non-Manufacturing PMI for July is predicted at 55.5. Forex traders can compare this to the US ISM Non-Manufacturing PMI for June which was reported at 55.1. The ISM Non-Manufacturing Business Activity Index for July is predicted at 58.3. Forex traders can compare this to the ISM Non-Manufacturing Business Activity Index for June which was reported at 58.2.
Should price action for the AUDUSD remain inside the or breakout above the 0.6745 to 0.6800 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 0.6765
Take Profit Zone: 0.6995 – 0.7080
Stop Loss Level: 0.6700
Should price action for the AUDUSD breakdown below 0.6745 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 0.6700
Take Profit Zone: 0.6575 – 0.6625
Stop Loss Level: 0.6765
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