Everyday Fundamental Analysis from Paxforex

[PaxForex]

GBPJPY Fundamental Analysis – July 25th 2019

Prime Minister Boris Johnson started his new position yesterday after winning the election with a 2-1 majority. As he assembles his pro-Brexit cabinet, the British Pound was able to stabilize at strong support levels and at extreme oversold conditions. The GBPJPY ascended slowly and is now approaching the upper band of its horizontal support area. Will bullish momentum be strong enough for a breakout? Subscribe to the PaxForex Daily Fundamental Analysis and take the profitable side of this currency pair!

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

UK CBI Reported Sales and CBI Total Distributed Reported Sales: UK CBI Reported Sales for July are predicted at -8 and CBI Total Distributed Reported Sales are predicted at -5. Forex traders can compare this to UK CBI Reported Sales for June which were reported at -42 and to CBI Total Distributed Reported Sales which were reported at -22.
The Japanese Yen is caught in crosscurrents as economic data continues to be weak wile safe haven demand from forex traders remains strong. As the global economy is on track to cool further and geopolitical risks remain elevated, volatility in the Japanese Yen is anticipated to remain high. The GBPJPY is ripe for a short-term reversal before the downtrend may extend. How much upside does price action have? Today’s fundamental analysis will explore the upside potential as well as the downside risk from current levels.

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

Japanese Corporate Service Price Index: The Japanese Corporate Service Price Index for June increased by 0.7% annualized. Economists predicted an increase of 0.8% annualized. Forex traders can compare this to the Japanese Corporate Service Price Index for May which increased by 0.9% annualized.
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 July 19th was reported at ¥1,027.8B and Japanese Buying Foreign Stocks was reported at -¥76.8B. Forex traders can compare this to Japanese Buying Foreign Bonds for the period ending July 12th which was reported at ¥949.6B and to Japanese Buying Foreign Stocks which was reported at -¥18.6B. Foreign Buying Japanese Bonds for the period ending July 19th was reported at ¥133.2B and Foreigners Buying Japanese Stocks was reported at -¥110.0B. Forex traders can compare this to Foreign Buying Japanese Bonds for the period ending July 12th which was reported at ¥844.3B and to Foreigners Buying Japanese Stocks which was reported at -¥93.1B.
Should price action for the GBPJPY remain inside the or breakout above the 134.250 to 135.250 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 134.850
Take Profit Zone: 138.300 – 139.550
Stop Loss Level: 133.850
Should price action for the GBPJPY breakdown below 134.250 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 133.950
Take Profit Zone: 131.000 – 132.000
Stop Loss Level: 134.850
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Do you have the proper forex trading strategies in order to grow your account balance in all trading environment? Find out why forex traders prefer to trade their portfolios at PaxForex!

[PaxForex]

EURUSD Fundamental Analysis – July 25th 2019

All eyes will be on the ECB press conference which will follow 45 minutes after the announcement on interest rates where no change is anticipated. Will the ECB open the door for more fiscal stimulus and potentially negative interest rates in response to the bigger-than-expected slowdown in the Eurozone? The Euro is expected to come under a spike in volatility during the press conference. Prior to that, the release of German IFO data, expected to weaken further, will keep forex traders busy. Is now the time to buy the EURUSD? Today’s fundamental analysis will take a look at where price action may be headed next.

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

Spanish Unemployment Rate: The Spanish Unemployment Rate for the second-quarter is predicted at 13.7%. Forex traders can compare this to the Spanish Unemployment Rate for the first-quarter which was reported at 14.7%.
German IFO: The German IFO Business Climate Index for July is predicted at 97.1. Forex traders can compare this to the German IFO Business Climate Index for June which was reported at 97.4. The German IFO Current Assessment Index for July is predicted at 100.4. Forex traders can compare this to the German IFO Current Assessment Index for June which was reported at 100.8. The German IFO Expectations Index for July is predicted at 94.0. Forex traders can compare this to the German IFO Expectations Index for June which was reported at 94.2.
ECB Rate Decision: The ECB is predicted to keep its Interest Rate at 0.00%, its Deposit Facility Rate at -0.40% and its Marginal Lending Facility Rate at 0.25%; this would equal no change in the ECB rate policy from the previous meeting.
Forex traders well get a series of key economic data out of the US with durable goods orders front and center. Economists predict an increase across the board, but with regional reports clocking in weaker than anticipated and Manufacturing PMI data dropping to 50.0 the risk remains to the downside. Will today’s data give bears the ammunition to force the US Dollar to the downside and ignite a short-covering rally in the EURUSD? Follow 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 US Dollar trades:

US Inventories: US Preliminary Wholesale Inventories for June are predicted to increase by 0.4% 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 0.4% monthly and to US Retail Inventories which increased by 0.5% monthly.
US Preliminary Durable Goods Orders: US Preliminary Durable Goods Orders for June are predicted to increase by 0.7% monthly and Durables Excluding Transportation are predicted to increase by 0.2% monthly. Forex traders can compare this to US Durable Goods Orders for May which decreased by 1.3% monthly and to Durables Excluding Transportation which were increased by 0.4% monthly. Capital Goods Orders Non-Defense Excluding Aircraft for June are predicted to increase by 0.3% monthly and Capital Goods Shipments Non-Defense Excluding Aircraft are predicted to increase by 0.2% monthly. Forex traders can compare this to Capital Goods Orders Non-Defense Excluding Aircraft for May which increased by 0.5% monthly and to Capital Goods Shipments Non-Defense Excluding Aircraft which increased by 0.6% monthly.
US Advanced Goods Trade Balance: The US Advanced Goods Trade Balance for June is predicted at -$72.2B. Forex traders can compare this to the US Advanced Goods Trade Balance for May which was reported at -$74.5B.
US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of July 20th are predicted at 220K and US Continuing Claims for the week of July 13th are predicted at 1,688K. Forex traders can compare this to US Initial Jobless Claims for the week of July 13th which were reported at 216K and to US Continuing Claims for the week of July 6th which were reported at 1,686K.
US Kansas City Fed Manufacturing Activity Index: The US Kansas City Fed Manufacturing Activity Index for July is predicted at 2. Forex traders can compare this to the US Kansas City Fed Manufacturing Activity Index for June which was reported at 0.
Should price action for the EURUSD remain inside the or breakout above the 1.1110 to 1.1155 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1.1135
Take Profit Zone: 1.1280 – 1.1320
Stop Loss Level: 1.1160
Should price action for the EURUSD breakdown below 1.1110 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1.1080
Take Profit Zone: 1.0820 – 1.0915
Stop Loss Level: 1.1110
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Does your forex broker provide the proper environment for you to grow your balance trade-by-trade? Take a look at PaxForex now and find out why we remain a top choice for successful forex traders!

[PaxForex]

EUR is cautious before ECB meeting

The rate of the single European currency shows a weak negative trend in relation to the US currency in trading on Thursday, awaiting a meeting of the European Central Bank, scheduled for today.

This morning, the euro against the dollar fell to 1.1135 dollars per euro from the previous close of 1.1139 dollars per euro. The exchange rate of the US currency to the yen fell to 108.12 yen over USD from yesterday’s close of 108.17 yen. The dollar index fell by 0.01%, to 97.72 points.

The interest of traders is chained today to the ECB meeting. The euro has fallen in price since the beginning of July by 2% against the background of strengthening expectations that the European regulator is capable of weakening its own monetary policy due to the restraint of the global economic growth.

During this period, traders believe that the possibility of reducing the ECB rate on deposits by 10 basis points up to minus 0.5%, is 48%. At the same time, experts note that even if the ECB keeps its monetary policy unchanged, the head of the regulator, Mario Draghi, can provide a signal to lower the rate at a subsequent meeting in September.

In addition, investors continue to assess the pessimistic statistical information from the eurozone, according to which the composite index of business activity in industry and services (PMI) of the eurozone countries in July, according to preliminary estimates, fell to 51.5 points from 52.2 points last month, although it was expected to decrease to 52.1 points. Traders expect additional pressure on the euro, due to the lack of good fundamental signals from Europe.

Big attention of traders also focused on various rumors before the US Federal Reserve meeting next week. According to some of them, the American regulator may not go to a strong rate cut, as President Trump would like, but the US leader has another tool to stimulate the national economy - a selling of US currency. Traders should consider the likelihood of such a move.

During the meeting next week, the Fed is likely to reduce the range of rates by 0.25 percentage points. In the light of the current state of the American economy, such a decision is not so obvious, but Trump, apparently, would like to see an even stronger decline, which could adversely affect the rate of the US currency.

Open free Forex account>

Forex trading recommendations:

GBPUSD: Buy. Entry point – 1, 248. Take profit – 1, 2496. Stop Loss – 1, 2453.

AUDUSD: Buy. Entry point – 0, 6964. Take Profit – 0, 6979. Stop Loss – 0, 6938.

NZDUSD: Sell. Entry point – 0, 6709. Take Profit – 0, 6694. Stop Loss – 0, 6735.

[PaxForex]

The Boris Johnson Purge

After winning the leadership race with a 2-1 majority, Boris Johnson became the new Prime Minister of the UK and which now has its first Brexit cabinet after the referendum. The extended Brexit data stands at October 31st 2019, but the EU stated it is willing to extend again. This is something Prime Minister Johnson has ruled out as he promised to deliver on Brexit and move the country forward. He has less than 100 days to deliver. With less than 24 hours in his new job, he wasted no time to reshuffle the cabinet and install pro-Brexit ministers during his purge.

As PM Johnson left Buckingham Palace and arrived at 10 Downing Street, he told supporters and opponents of Brexit who gathered outside that “The doubters, the doomsters, the gloomsters, they are going to get it wrong again. We are going to fulfill the repeated promises of Parliament to the people and come out of the EU on Oct. 31, no ifs or buts, and we will do a new deal, a better deal.” Out of the 29 cabinet ministers who started their jobs Wednesday morning, eighteen were without their positions before the day ended. While PM Johnson has now a pro-Brexit cabinet, he has also created at least eighteen enemies who may hold a grudge and seek to derail the fragile Tory government.

Dominic Raab became First Secretary of State as well as Secretary of State for Foreign and Commonwealth Affairs, Priti Patel became Secretary of State for the Home Department and Sajid Javid Chancellor of the Exchequer. Jacob Rees-Mogg was appointed as Leader of the House of Commons and Lord President of the Council while Ben Wallace was named new Secretary of State for Defence. Liz Truss became the new Secretary of State for International Trade and President of the Board of Trade and Andrea Leadsom was appointed Secretary of State for Business, Energy and Industrial Strategy.

With a pro-Brexit cabinet in charge of Brexit and after the Boris Johnson Purge, is it now the right time to buy the British Pound? How will PM Johnson solve the issues surrounding Brexit in less than 100 days? Open your PaxForex Trading Account today and join our fast growing community of profitable forex traders; find out why PaxForex is one of the prime brokers for new traders and seasoned professionals alike.

The few cabinet ministers who remained include Brexit Secretary Steve Barclay, Health Secretary Matt Hancock, Work and Pensions Secretary Amber Rudd, Leader of the House of Lords Natalie Evans, Wales Secretary Alun Cairns and Attorney General Geoffrey Cox. Michael Gove, Brandon Lewis and Julian Smith were moved to different posts. I regards to a no-deal Brexit, PM Johnson added “The ports will be ready, the banks will be ready, the factories will be ready, business will be ready. The British people have had enough of waiting.” He also pledged that “I take personal responsibility for the change I want to see.” The Boris Johnson Purge is complete with a cabinet ready to deliver Brexit and here are three forex trades ready to deliver profits along the way!

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

As the US Fed is poised to cut interest rates, as early as this month or as late as December, and with the global economy moving closer to a recession with each released data point, the GBPUSD is poised to capture a double dose of bullish momentum. Price action is currently stabilizing inside of its horizontal support area, which is being pressured by its secondary descending resistance level,from where a double breakout is favored to materialize. This will clear the path for the GBPUSD to accelerate into its next horizontal resistance level and forex traders are recommended to spread their buy orders inside of the horizontal support area.

The CCI already pushed out of extreme oversold territory and the rise in bullish momentum is now favored to extend the advance above 0 which is expected to attract more buy orders. Download your PaxForex MT4 Trading Platform now and earn grow your account balance trade-by-trade!

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

The ECB is poised to cut interest rates and increase QE which is anticipated to pressure the Euro to the downside as the economy is slowing down. The EURGBP already started its corrective phase after completing a breakdown below its horizontal resistance area as well as below its primary ascending support level. The primary descending resistance level is adding bearish pressures and this currency pair is on track to extend its correction until it can reach its next horizontal support level. Selling any potential rallies in the EURGBP into the upper band of its horizontal resistance area remains the favored trading approach.

The CCI moved deep into extreme oversold conditions, but remains well off of its previous low with plenty of room to the downside. A minor bounce above -100 cannot be ruled out from where the next push lower is likely to materialize. Subscribe to the PaxForex Daily Fundamental Analysis and earn over 500 pips per month with the help of our expert analysts!

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

After a strong performance by the Canadian Dollar so far this year, forex traders decided to start taking profits. This has pushed the GBPCAD above its horizontal support area as well as above its primary and secondary descending resistance levels from where bullish momentum is on the rise. Price action now has a clear path to extend the breakout into a strong rally until it can challenge its next horizontal resistance level. Forex traders area advised to buy and sell-offs in the GBPCAD down to the lower band of its horizontal support area.

The CCI accelerated out of extreme oversold territory and above the 0 mark for a bullish momentum crossover. More upside in this technical indicator is favored to lead price action to the upside. Follow the PaxForex Daily Forex Technical Analysis and simply copy the recommended trades of our expert analysts into your own trading account!

[PaxForex]

Analysis of EURUSD 25.07.2019
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 1.1100
• Take Profit Level: 1.1000 (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 1.1170
• Take Profit Level: 1.1200 (30 pips)

GOLD
A possible long position at the breakout of the level 1430.00

USDCHF
A possible long position at the breakout of the level 0.9875

GBPUSD
A possible short position in the breakdown of the level 1.2460

USDJPY
A possible short position in the breakdown of the level 108.00

[PaxForex]

Silver Fundamental Analysis – July 26th 2019

The ECB left interest rates unchanged yesterday, but analysts expected a 0.1% interest rate cut to be delivered by September. ECB President Draghi stated that the economic conditions are getting worse and said that governments need to pitch in. All eyes are on Germany which disagrees with the ECB’s outlook on the economy. German Finance Minister Olaf Scholz added “It’s not necessary or wise to act as if we were in a crisis.” Uncertainty will accompany the Euro over the summer months as deflationary pressures mount as the Eurozone economy is cooling off fast. Is it time to add more hedges to your forex portfolio wit commodities such as Silver? Subscribe to the PaxForex Daily Fundamental Analysis and find out why more successful forex traders every day prefer to grow their portfolio as PaxForex!

Markets expected more from the ECB and BNP Paribas Asset Management Economist Richard Barwell pointed out that “There is a sense that they are scraping the bottom of the barrel on monetary easing. Hence fiscal policy will have to do more next time around.” Economic data released from Singapore through Germany, France and Italy came in mixed with a bearish bias and traders will get the preliminary second-quarter GDP report out of the US to close the trading week. How will this final piece of data impact price action in Silver? Today’s fundamental analysis will take a look at price action potential in this precious metal.

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

South Korean Consumer Confidence: South Korean Consumer Confidence for July was reported at 95.9. Forex traders can compare this to South Korean Consumer Confidence for
Singapore Unemployment Rate: The Singapore Unemployment Rate for the second-quarter was reported at 2.2%. Forex traders can compare this to the Singapore Unemployment Rate for the first-quarter which was reported at 2.2%.
Singapore Industrial Production: Singapore Industrial Production for June increased by 1.2% monthly and decreased by 6.9% annualized. Economists predicted a decrease of 0.7% and of 7.9%. Forex traders can compare this to Singapore Industrial Production for May which decreased by 0.1% monthly and by 2.0% annualized.
German Import Price Index: The German Import Price Index for June decreased by 1.4% monthly and by 2.0% annualized. Economists predicted a decrease of 0.8% monthly and of 1.5% annualized. Forex traders can compare this to the German Import Price Index for May which decreased by 0.1% monthly and by 0.2% annualized.
French Consumer Confidence: French Consumer Confidence for July was reported at 102. Economists predicted a figure of 101. Forex traders can compare this to French Consumer Confidence for June which was reported at 101.
French PPI: The French CPI for June decreased by 0.5% monthly. Economists predicted a decrease of 0.2%. Forex traders can compare this to the French CPI for May which decreased by 0.4% monthly.
Italian Confidence Data: Italian Business Confidence for July was reported at 100.1 and Italian Consumer Confidence was reported at 113.4. Economists predicted a figure of 100.6 and of 109.6 Forex traders can compare this to Italian Business Confidence for June which was reported at 100.7 and to Italian Consumer Confidence which was reported at 109.8.
US GDP: The Preliminary US GDP for the second-quarter is predicted to increase by 1.8% annualized. Forex traders can compare this to the first-quarter GDP which increased by 3.1% annualized. Preliminary Personal Consumption for the second-quarter is predicted to increase by 4.0% annualized. Forex traders can compare this to first-quarter Personal Consumption which increased by 0.9% annualized. The Preliminary GDP Price Index for the second-quarter is predicted to increase by 1.9% annualized. Forex traders can compare this to the first-quarter GDP Price Index which increased by 0.9% annualized. The Preliminary Core PCE for the second-quarter is predicted to increase by 2.0% annualized. Forex traders can compare this to the first-quarter Core PCE which increased by 1.2% annualized.
Should price action for Silver remain inside the or breakout above the 16.150 to 16.600 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 16.400
Take Profit Zone: 18.600 – 19.000
Stop Loss Level: 15.850
Should price action for Silver breakdown below 16.150 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 15.850
Take Profit Zone: 13.850– 14.300
Stop Loss Level: 16.150
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Do you hedge your forex trading strategies with precious metals like Silver? Find out today why you should explore this option and why it represents a smart hedge!

[PaxForex]

Analysis of EURTRY 26.07.2019

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 6.2900
• Take Profit Level: 6.2200 (700 pips)

If the price rebound from a support level, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 6.3900
• Take Profit Level: 6.4100 (200 pips)

GOLD
A possible long position at the breakout of the level 1426.00

USDCHF
A possible long position at the breakout of the level 0.9920

GBPUSD
A possible short position in the breakdown of the level 1.2410

USDJPY
A possible long position at the breakout of the level 108.80

[PaxForex]

GBPCHF Fundamental Analysis – July 29th 2019

UK Prime Minister Boris Johnson will start his first full week and is expected to further prepare the country for a no-deal Brexit. He told Brussels that unless the Irish backstop is removed, there will be no deal acceptable to the UK. Forex traders are in a holding pattern as the British Pound hovers at strong support levels. The GBPCHF is ripe for a short-term spike and with light economic data ahead, can bulls force a short-covering rally? Today’s fundamental analysis will take a look at the upside potential in this currency pair.

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

UK Consumer Credit and Net Lending Securities on Dwellings: UK Net Consumer Credit for June is predicted at £0.9B and Net Lending Securities on Dwellings is predicted at £3.5B. Forex traders can compare this to UK Net Consumer Credit for May which was reported at £0.8B and to Net Lending Securities on Dwellings which was reported at £3.1B.
UK Mortgage Approvals: UK Mortgage Approvals for June are predicted at 65.8K. Forex traders can compare this to UK Mortgage Approvals for May which were reported at 65.4K.
UK M4 Money Supply: UK M4 Money Supply for June is predicted to increase by 0.2% monthly and by 2.4% annualized. Forex traders can compare this to UK M4 Money Supply for May which decreased by 0.1% monthly and which increased by 2.2% annualized. UK M4 Money Supply excluding IOFCs 3-Month Annualized for June is predicted to increase by 2.5% annualized. Forex traders can compare this to UK M4 Money Supply excluding IOFCs 3-Month Annualized for May which increased by 2.8% annualized.
The ongoing protests in Hong Kong and the escalation of violence has traders on edge which is pushing demand for safe haven assets. The Swiss Franc was leading this sector, but forex traders may opt to realize floating trading profits after a the strong rally. Economic data out of Switzerland remains solid, but a short term count-trend rally on the back of short-covering in the GBPCHF cannot be ruled out. Follow the PaxForex Daily Fundamental Analysis and take the profitable side of this currency pair!

Here is the key factor to keep in mind today for Swiss Franc trades:

Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of July 26th are predicted at CHF577.9B and Swiss Domestic Sight Deposits are predicted at CHF477.1B. Forex traders can compare this to Swiss Total Sight Deposits for the week of July 19th which were reported at CHF579.5B and to Swiss Domestic Sight Deposits which were reported at CHF477.5B.
Should price action for the GBPCHF remain inside the or breakout above the 1.2245 to 1.2335 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1.2285
Take Profit Zone: 1.2500 – 1.2540
Stop Loss Level: 1.2225
Should price action for the GBPCHF breakdown below 1.2245 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1.2200
Take Profit Zone: 1.1960 – 1.2140
Stop Loss Level: 1.2245
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Explore PaxForex today and learn how our traders earn more pips with every trade and why we remain a top choice forex broker for profitable traders!

[PaxForex]

The pound fell to March 2017 levels
GBP/USD - Forex News and Fundamental Analysis
On Monday, the pound sterling fell to another low, reaching its lowest level since March 2017. Investors are increasingly concerned that Britain is moving toward a chaotic exit from the European Union without any deal with the bloc.

On Sunday, high-ranking officials said that the government of new Prime Minister Boris Johnson is working on a scenario if the EU does not revise its Brexit deal, and is stepping up preparations for leaving the bloc without a deal on October 31.

In early Monday trading, the pound fell by 0.2% to 1.2363 dollars. The British currency also declined against the euro, reaching 90.01 pence.

Recall that the rate of the British currency dropped by 0.6% to 1.2377 immediately after European Commission President Jean-Claude Juncker told the new British Prime Minister Boris Johnson that the agreement on the terms of the kingdom, reached by the EU with Teresa May, is the only possible and the best.

At the same time, the rate of the US dollar fell slightly to the leading world currencies in anticipation of the meeting of the US Federal Reserve System (FRS), which will be held later this week.

As of Monday morning, the EURUSD rate rose to 1.1128 USD per euro from the previous close of 1.1125 dollars per EUR. The dollar fell against the Japanese yen to 108.59 JPY per dollar from Friday’s close of 108.66 yen. The dollar index fell by 0.01% - to 98 points.

Investors are awaiting a meeting of the American regulator, which will be held July 30-31. According to forecasts, 78.1% of analysts expect a reduction in the base rate by 25 basis points from the current level of 2.25-2.5%, while other experts believe that the decline will be 50 basis points.

Against this background, market participants drew attention to the American fundamental statistics, according to which US GDP growth in the second quarter of this year was about 2.1% in annual terms. Analysts predicted a slowdown in GDP growth to 1.8% from 3.1% in the last quarter.

Since the GDP figures were slightly better than predicted, this had a negative impact on expectations regarding the easing of US financial policy.

[PaxForex]

Analysis of GOOGLE 29.07.2019

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 1268.00
• Take Profit Level: 1288.00 (2000 pips)

If the price rebound from resistance level, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1240.00
• Take Profit Level: 1235.00 (500 pips)

USDJPY
A possible long position at the breakout of the level 108.80

GOLD
A possible long position at the breakout of the level 1425.00

USDCHF
A possible short position in the breakdown of the level 0.9910

EURUSD
A possible short position in the breakdown of the level 1.1110

[PaxForex]

Analysis of EURGBP 30.07.2019

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 0.9190
• Take Profit Level: 0.9280 (90 pips)

If the price rebound from resistance level, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 0.9110
• Take Profit Level: 0.9060 (50 pips)

USDJPY
A possible long position at the breakout of the level 108.75

EURUSD
A possible short position in the breakdown of the level 1.1130

USDCHF
A possible long position at the breakout of the level 0.9930

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

[PaxForex]

AUDUSD Fundamental Analysis – July 30th 2019

The Australian Dollar stabilized after consumer confidence rebounded, but bullish momentum remained muted after building approvals slumped steeper than anticipated. Forex traders are also in a holding pattern amid the next round of trade talks between the US and China. With an interest rate cut by the US Fed looming, the AUDUSD is hovering at strong support levels. Can bulls ignite a short-covering rally or will bears push price action further to the downside? Subscribe to the PaxForex Daily Fundamental Analysis where you will grow you balance trade-by-trade!

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

Australian ANZ Roy Morgan Weekly Consumer Confidence Index: The Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of July 28th was reported at 118.5. Forex traders can compare this to the Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of July 21st which was reported at 116.3.
Australian Building Approvals: Australian Building Approvals for June decreased by 1.2% monthly and by 25.6% annualized. Economists predicted an increase of 0.2% monthly and a decrease of 24.3% annualized. Forex traders can compare this to Australian Building Approvals for May which increased by 0.3% monthly and which decreased by 19.2% annualized.
US personal income and spending data will be front and center today for US Dollar trades. Economists expect a slowdown as compared to last month, but are forex traders prepared for a potential downside surprise? Today is the start of the two-day FOMC meeting and expectations call for a 25 basis point interest rate cut announcement tomorrow. The European Central Bank and the Bank of Japan decided to wait out the US Fed and left their interest rates unchanged. Is now the right time to buy the AUDUSD? Today’s fundamental analysis will take a look at price action in both directions.

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

US Personal Income and Personal Spending: US Personal Income for June is predicted to increase by 0.3% monthly and Personal Spending is predicted to increase by 0.3% monthly. Forex traders can compare this to Personal Income for May which increased by 0.5% monthly and to Personal Spending which increased by 0.4% monthly. Real Personal Spending for June is predicted to increase by 0.2% monthly. Forex traders can compare this to Real Personal Spending for May which were increased by 0.2% monthly. The PCE Deflator for June is predicted to increase by 0.1% monthly and by 1.5% annualized. Forex traders can compare this to the PCE Deflator for May which increased by 0.2% monthly and by 1.5% annualized. The PCE Core Deflator for June is predicted to increase by 0.2% monthly and by 1.7% annualized. Forex traders can compare this to the PCE Core Deflator for May which was increased by 0.2% monthly and by 1.6% annualized.
US S&P/Case-Shiller Composite 20: The US S&P/Case-Shiller Composite 20 for May is predicted to increase by 0.20% monthly and by 2.40% annualized. Forex traders can compare this to the US S&P/Case-Shiller Composite 20 for April which was reported flat at 0.00% monthly and which increased by 2.54% annualized.
US Pending Home Sales: US Pending Home Sales for June are predicted to increase by 0.30% monthly and to decrease by 0.7% annualized. Forex traders can compare this to US Pending Home Sales for May which increased by 1.1% monthly and which decreased by 0.8% annualized.
US Consumer Confidence: US Consumer Confidence for July is predicted at 125.0. Forex traders can compare this to US Consumer Confidence for June which was reported at 121.5.
Should price action for the AUDUSD remain inside the or breakout above the 0.6860 to 0.6915 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 0.6890
Take Profit Zone: 0.7045 – 0.7080
Stop Loss Level: 0.6830
Should price action for the AUDUSD breakdown below 0.6860 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 0.6820
Take Profit Zone: 0.6600 – 0.6695
Stop Loss Level: 0.6890
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Did you get your MetaTrader4 login? Check your inbox and join our fast growing community of profitable forex traders!

[PaxForex]

EURJPY Fundamental Analysis – July 30th 2019

All eyes will be on Eurozone confidence data which will be released during the morning trading session. French second-quarter GDP clocked in weaker than expected and German GfK Consumer Confidence slid further. Economists anticipate that confidence data out o the Eurozone will decrease and forex traders will look out for the Eurozone Business Climate Indicator which is approaching 0. How will this impact the EURJPY? Today’s fundamental analysis will take a look if the most recent up-tick can extend to the upside or if a renewed push to the downside is on the horizon.

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

French GDP: The Preliminary French GDP for the second-quarter increased by 0.2% quarterly and by 1.2% annualized. Economists predicted an increase of 0.3% quarterly and of 1.3% annualized. Forex traders can compare this to the first-quarter GDP which increased by 0.3% quarterly and by 1.2% annualized.
German GfK Consumer Confidence Survey: The German GfK Consumer Confidence Survey for August was reported at 9.7. Economists predicted a figure of 9.7. Forex traders can compare this to the German GfK Consumer Confidence Survey for July which was reported at 9.8.
French Consumer Spending: French Consumer Spending for June is predicted to increase by 0.2% monthly. Forex traders can compare this to French Consumer Spending for May which increased by 0.4% monthly.
Eurozone Confidence Data: Eurozone Economic Confidence for July is predicted at 102.7. Forex traders can compare this to Eurozone Economic Confidence for May which was reported at 103.3. Eurozone Industrial Confidence for July is predicted at -6.7. Forex traders can compare this to Eurozone Industrial Confidence for May which was reported at -5.6. Eurozone Services Confidence for July is predicted at 10.7. Forex traders can compare this to Eurozone Services Confidence for May which was reported at 11.0. Final Eurozone Consumer Confidence for July is predicted at -6.6. Forex traders can compare this to the previous Eurozone Consumer Confidence for July which was reported at -6.6. The Eurozone Business Climate Indicator for July is predicted at 0.10. Forex traders can compare this to Eurozone Business Climate Indicator for May which was reported at 0.17.
Preliminary German CPI: The Preliminary German CPI for July is predicted to increase by 0.3% monthly and by 1.5% annualized. Forex traders can compare this to the German CPI for June which increased by 0.3% monthly and by 1.6% annualized. The EU Harmonized German CPI for July is predicted to increase by 0.5% monthly and by 1.3% annualized. Forex traders can compare this to the EU Harmonized German CPI for June which increased by 0.3% monthly and by 1.5% annualized.
The Bank of Japan decided to keep interest rates unchanged, but did not rule out future easing. This was the second major central bank, after the ECB, which decided to await more economic data before adding more economic stimulus. The Japanese Yen weakened during the Asian trading session, and adding to downside pressures was a larger than expected drop in industrial production. The EURJPY advanced off of strong support levels, can this trend extend to the upside? Follow the PaxForex Daily Fundamental Analysis today and take the profitable side of this currency pair!

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

Japanese Jobless Rate and Job-to-Applicant Ratio: The Japanese Jobless Rate for June was reported at 2.3% and the Job-to-Applicant Ratio at 1.61. Economists predicted a figure of 2.4% and of 1.62. Forex traders can compare this to the Japanese Jobless Rate for May which was reported at 2.4% and to the Job-to-Applicant Ratio which was reported at 1.62.
Japanese Industrial Production: Preliminary Japanese Industrial Production for June decreased by 3.6% monthly and by 4.1% annualized. Economists predicted an decrease of 1.7% monthly and of 2.0% annualized. Forex traders can compare this to Japanese Industrial Production for May which increased by 2.0% monthly and which decreased by 2.1% annualized.
Bank of Japan Policy Rate and 10-Year Yield Target: The Bank of Japan Policy Rate was reported at -0.10% and the 10-Year Yield Target at 0.00%.Economists predicted a level of -0.10% and of 0.00%. Forex traders can compare this to the previously announced Bank of Japan Policy Rate which was reported at -0.10% and to the 10-Year Yield Target which was reported at 0.00%.
Should price action for the EURJPY remain inside the or breakout above the 120.700 to 121.350 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 121.000
Take Profit Zone: 122.850 – 123.300
Stop Loss Level: 120.200
Should price action for the EURJPY breakdown below 120.700 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 120.500
Take Profit Zone: 118.350 – 119.300
Stop Loss Level: 121.000
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Do you ensure that your forex investment is taken good care off for you at a trusted forex broker? Join our fast growing community of profitable forex traders now and find out why we are one of the primary MT4 forex brokers in the forex market!

[PaxForex]

EURUSD Fundamental Analysis – July 31st 2019

After the ECB decided to hold interest rates, forex traders will get a healthy dose of inflation as well as GDP data out of the Eurozone and individual member countries. Germany reported a surprise drop in annualized retail sales, but the Euro remained in a holding pattern near key levels. Most forex traders are likely to await the announcement of the US Fed interest rate decision. Can the EURUSD finish today’s trading session on a high note? Follow the PaxForex Daily Fundamental Analysis and earn more pips per trade!

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

German Retail Sales: German Retail Sales for June increased by 3.5% monthly and decreased by 1.6% annualized. Economists predicted an increase of 0.5% monthly and of 2.7% annualized. Forex traders can compare this to German Retail Sales for May which decreased by 1.7% monthly and which increased by 3.8% annualized.
French CPI: The French CPI for June decreased by 0.2% monthly and increased by 1.1% annualized. Economists predicted a decrease of 0.3% monthly and an increase of 1.2% annualized. Forex traders can compare this to the French CPI for May which increased by 0.2% monthly and by 1.2% annualized. The French Harmonized CPI for June decreased by 0.2% monthly and increased by 1.2% annualized. Economists predicted a decrease of 0.2% monthly and an increase of 1.2% annualized. Forex traders can compare this to the French Harmonized CPI for May which increased by 0.3% monthly and by 1.4% annualized.
Spanish GDP: The Preliminary Spanish GDP for the second-quarter increased by 0.5% quarterly and by 2.3% annualized. Economists predicted an increase of 0.6% and of 2.3%. Forex traders can compare this to the Spanish GDP for the first-quarter which increased by 0.7% quarterly and by 2.4% annualized.
German Unemployment Change and German Unemployment Rate: The German Unemployment Change for July is predicted at 2K and the German Unemployment Rate at 5.0%. Forex traders can compare this to the German Unemployment Change for June which was reported at -1K and to the German Unemployment Rate which was reported at 5.0%.
Eurozone Unemployment Rate: The Eurozone Unemployment Rate for June is predicted at 7.5%. Forex traders can compare this to the Eurozone Unemployment Rate for May which was reported at 7.5%.
Italian Unemployment Rate: The Italian Unemployment Rate for June is predicted at 10.0%. Forex traders can compare this to the Italian Unemployment Rate for May which was reported at 9.9%.
Spanish Current Account: The Spanish Current Account for May is predicted at -€0.70B. Forex traders can compare this to the Spanish Current Account for April which was reported at -€0.41B.
Italian CPI: The Preliminary Italian CPI for June is predicted to increase by 0.1% monthly and by 0.5% annualized. Forex traders can compare this to the Italian CPI for May which increased by 0.1% monthly and by 0.7% annualized. The Preliminary Italian Harmonized CPI for June is predicted to decrease by 0.7% monthly and to increase by 0.5% annualized. Forex traders can compare this to the Italian Harmonized CPI for May which increased by 0.1% monthly and by 0.8% annualized.
Eurozone CPI and Eurozone Core CPI: The Eurozone CPI for July is predicted to increase by 1.1% annualized and the Eurozone Core CPI is predicted to increase by 1.0% annualized. Forex traders can compare this to the Eurozone CPI for June which increased by 1.2% annualized and to the Eurozone Core CPI which increased by 1.1% annualized.
Eurozone GDP: The advanced Eurozone GDP for the second-quarter is predicted to increase by 0.2% quarterly and by 1.0% annualized. Forex traders can compare this to the Eurozone GDP for the first-quarter which increased by 0.4% quarterly and by 1.2% annualized.
Italian GDP: The Preliminary Italian GDP for the second-quarter is predicted to decrease by 0.1% quarterly and by 0.2% annualized. Forex traders can compare this to the Italian GDP for the first-quarter which increased by 0.1% quarterly and which decreased by 0.1% annualized.
All eyes will be on the FOMC interest rate decision where a 25 basis point interest rate cut is expected. The US Dollar has traded at multi-week highs despite this threat as some traders believe the US Fed may follow the Bank of Japan and the ECB with their holding pattern. Will the Fed deliver the interest rate cut and if they do, what will be next? The US Dollar is at risk of a heavy sell-off if more cuts will be announced. How will this impact the most liquid currency pair, the EURUSD? Today’s fundamental analysis will take a look at the upside potential and the downside risk of this currency pair.

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

US ADP Employment Change: The US ADP Employment Change for July is predicted at 150K. Forex traders can compare this to the US ADP Employment Change for June which was reported at 102K.
US Employment Cost Index: The US Employment Cost Index for the second-quarter is predicted to increase by 0.7% quarterly. Forex traders can compare this to the US Employment Cost Index for the first-quarter which increased by 0.7% quarterly.
US Chicago PMI: The US Chicago PMI for July is predicted at 51.5. Forex traders can compare this to the US Chicago PMI for June which was reported at 49.7.
US FOMC Interest Rate Decision: The US FOMC Interest Rate Decision is predicted to show Upper Bound interest Rates at 2.25% and Lowe Bound Interest Rates at 2.00%. Forex traders can compare this to the previous US FOMC Interest Rate Decision which showed Upper Bound interest Rates at 2.50% and Lower Bound Interest Rates at 2.25% The Interest Rate on Excess Reserves is predicted at 2.10%. Forex Traders can compare this to the previous Interest Rate on Excess Reserves which was reported at 2.35%.
Should price action for the EURUSD remain inside the or breakout above the 1.1130 to 1.1180 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1.1150
Take Profit Zone: 1.1350 – 1.1410
Stop Loss Level: 1.1100
Should price action for the EURUSD breakdown below 1.1130 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1.1090
Take Profit Zone: 1.0955 – 1.1000
Stop Loss Level: 1.1130
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. How to trade forex is a question which many new traders try to answer for themselves, but at PaxForex you can move past this and send your time executing strategies delivered by our expert analysts!

[PaxForex]

Bitcoin - Forex Combo Strategy: Ethereum Turns 4
Bitcoin - Forex Combo Strategy: Ethereum Turns 4
Welcome back everyone to this week’s edition of my Bitcoin - Forex Combo Strategy. Since last week’s update “Bitcoin - Forex Combo Strategy: Bitcoin Hodling on the Rise”, price action has been muted with Bitcoin comfortable below $10,000. Before you dismiss this development, it is a strong bullish sign as price action is carving out and confirming support. When it comes to trading, everything matters. Many tend to focus on sharp rallies and sell-offs, which only tell part of the story. The current phase of muted price action moves offers traders a great opportunity to add to their holdings and it also pushed technical indicators out of extreme conditions.

Let me continue by saying Happy Birthday to Ethereum! The world’s largest cryptocurrency turned 4 yesterday, July 30th 2019. As you all know I am bearish on Ethereum and continue to be, but I do give credit where credit is due. Many projects fail in their first year or two, but Ethereum has remained the number two for quite some time, despite plenty of negative factors surrounding the it. On July 30th 2015, “Frontier” was released to the public which ran in the start for Ethereum. Smart contracts was a big part and remains today as dApps developers prefer to use a blockchain which enables smart contracts as the potential for usage increases.

I remain on the sidelines right now when it comes to Ethereum as I believe despite some positive inertia, we are poised to see lower prices in Ethereum moving forward. There is plenty of bullish momentum building up in Bitcoin where I hodl 500 Bitcoin at an average entry price of $8,500. Ripple is extremely undervalued and I have accumulated 40,000,000 Ripple at an average entry price of $0.3388. Litecoin offers good upside potential and I think price action will advance in unison with Bitcoin. I currently have a total of 20,000 Litecoin which I bought at $77.00. The three charts below show my Bitcoin, Ripple and Litecoin holdings.

While I remain bearish on Ethereum, I have never claimed that they are not innovative. Developers have worked hard to make critical improvements as evident in their new releases. After “Frontier” was released in July 30th of 2015, “Homestead” was released on March 14th of 2016 which represented the first big upgrade to Ethereum. “Metropolis (Byzantium)” was released in October 16th of 2017 and “Metropolis (Constantinople)” followed on February 28th 2019. The next major release, named “Serenity”, has been announced and is expected to be released sometime in 2020. No official data has been yet determined.

Each major delivered an improvement in key areas such as smart contracts, block rewards, transaction fees and miner compensation. All those were focused on the technical aspect of Ethereum, but the Ethereum Enterprise Alliance or EEA, launched in March 2017, focused on the commercial aspect of it. Initially there were 30 founding companies and their work inspired more to join from across the enterprise spectrum. Start-ups, venture capital and private equity firms followed suite and so did support companies. In total there are currently over 150 members of the EEA with some of the more influential names being The National Bank of Canada, ING, CME Group, Accenture and Deloitte.

One area where Ethereum may have more potential than competitors is in licensing their technology to third parties. dApp developers usually build their decentralized application on top of the Ethereum network, but corporate clients have a different approach. There are several permissioned Ethereum blockchain versions available which are deployed by companies who then explore different uses for their needs. JP Morgan Chase uses a permissioned Ethereum blockchain named “Quorum” and ConsenSys one named “Pantheon”. There are several others operational and Ethereum may want to spend more energy and resources in order to build on the existing success stories.

dApp development remains popular with over 2,000 different dApps available, but user numbers are disappointing. I think that Ethereum will eventually lose out as other projects may create less dApps, but with higher usage numbers. Most recent statistics show that roughly 20% of all Ethereum based dApps have been abandoned which indicates that there is initial hype with low follow through. Maybe the biggest issue I have with Ethereum is that it tries to be everything to everyone whereas other project find a market and excel at it. I think over the next four years, Ethereum will continue to lose ground.

Now let’s take a look at my forex portfolio where we had a bit of movement. My forex investment remains a key part of my overall approach as I generate my cashflow which I reinvest in cryptocurrencies. On July 26th 2019, the stop loss order in my 100 lots GBPJPY long position from July 18th 2019 was triggered at 135.250. I closed this trade for a profit of 125 pips or $115,664. Earlier today, the stop loss on my 100 lots NZDUSD short position, which I took on July 16th 2019, was triggered at 0.6600 and I closed this trade for a profit of 130 pips or $130,000. Also today, the stop loss on my 100 lots EURAUD long position from July 24th 2019 was triggered at 1.6215 for a profit of 250 pips or $174,533. The three charts below show my closed trades.

My 100 lost EURCAD long position which I took on July 17th 2019 at 1.4650 for a margin requirement of $22,437 with a pip value of $765.36 remains unchanged. On July 26th 2019 I added a 200 lots short position in the USDCHF at 0.9935 for a margin requirement of $40,000 with a pip value of $2,029.12. This was an addition to the 100 lots short position I took on July 22nd 2019 at 0.9835 for a margin requirement of $20,000 with a pip value of $1,014.56. The two chars below show my two remaining trades from last week.

On July 26th 2019 I bought 100 lots of Silver at 16.400 for a margin requirement of $82,240 with a pip value of $5,000. The original trading recommendation can be read at “Silver Fundamental Analysis – July 26th 2019”. Yesterday on July 30th 2019 I bought 100 lots in the EURJPY at 121.000 for a margin requirement of $22,285 with a pip value of $925.31. I acted on this trading recommendation “EURJPY Fundamental Analysis – July 30th 2019”. The two charts below show the new additions to my forex portfolio.

Here is the summary of my Bitcoin - Forex Combo portfolio: I hodl 500 Bitcoins worth $4,858,400, 40,000,000 Ripple worth $12,452,000 and 20,000 Litecoin worth $1,854,800 plus a total cash portfolio worth $1,519,327. In addition I have the following forex positions in my portfolio: a 100 lots EURCAD long position worth $28,560, a 300 lots USDCHF short position worth $55,942, a 100 lots Silver long position worth $95,740 and a 100 lots EURJPY long position worth $22,285. My total Bitcoin - Forex Combo portfolio is worth $20,887,054, up $962,776 from last week’s value of $19,924,278, but off of my all-time high of $22,426,696. My forex trades offered a nice boost and as the cryptocurrency sell-off is nearing its end, I think we will see my portfolio challenge new all-time highs as soon as next month. Let’s rise together, open your PaxForex Trading Account now and follow my Bitcoin - Forex Combo Strategy. Comment below with any questions you may have and I will be happy to help you get started with my Bitcoin - Forex Combo Strategy!

[PaxForex]

US Fed Cuts Rates, What’s Next?
US Fed Cuts Rates, What’s Next?
As widely expected, the US Federal Reserve lowered its key interest rate by 25 basis points to a Lower Bound Rate of 2.00% and an Upper Bound Rate of 2.25%. The Interest Rate on Excess Reserves remained unchanged at 2.10%. Financial markets in the US saw a volatile move to the downside, closing off of their lows, as Fed Chief Powell struggled to signal a clear path ahead. He also struck a more hawkish tone than many anticipated in the wake of a global economic slowdown which resulted in disappointment across the board and criticism by US President Trump.

Powell stated that “We’re thinking of it as essentially in the nature of a mid-cycle adjustment to policy. It’s not the beginning of a long series of rate cuts. I didn’t say it’s just one.” Some argued that the US central bank gave into pressures by the Trump to lower interest rates and while the White House certainly wanted more, there was dissent at the Fed for this 25 basis points interest rate cut. Esther George, the Kansas City Fed President, and Eric Rosengren, the Boston Fed President voted against the cut which was the first time under Powell that two members voted against him.

During the press conference, Powell argued that the cut was a defensive one in order to shield the US economy from the global slowdown as well as low inflation and trade disputed. He tried to convince markets that this was more of an insurance policy to keep the US economy on the right track, that the US economy remains healthy with a favorable outlook. He then caused volatility to spike after he initially mentioned the mid-term adjustment and then opened the door for more interest rate cuts. The conflicting message was not well received by global financial markets.

The US Fed delivered its interest rate cut, what’s next? Last December Powell struck a hawkish tone only to walk it back later. Yesterday he was flip-flopping between two directions. Is now the right time to look at short opportunities in the US Dollar? Subscribe to the PaxForex Daily Fundamental Analysis today and allow our expert analysts to guide you through the forex market, yielding over 500 pips in profits per month.

The US Fed also ended its balance sheet reduction program, which pleased Trump who was overall disappointed. He tweeted “As usual, Powell let us down.” Cornerstone Macro Partner Roberto Perli added “We’re looking for another 25 basis points, probably later than September, but before the new year.” Aberdeen Standard Investments Senior Global Economist James McCann added “This was always a challenging balancing act for Powell.” Financial markets showed the US central bank once again that no matter what it does, it can’t win. The US Fed cuts rates, what’s next? US Dollar resilience could catch up with reality sooner rather than later and result in a bigger sell-off as economic prospects worsen, here are three forex trades to boost profit prospects for your portfolio.

Forex Profit Set-Up #1; Sell USDCAD - D1 Time-Frame

The Canadian Dollar started 2019 with a strong rally which was followed through by a short-term price action reversal. After the US Fed cut interest rates, the US Dollar has moved into an uncertain future. The USDCAD extended its move into its horizontal resistance level where bullish momentum is fading and the secondary descending resistance level is adding bearish pressures. This currency pair is now anticipated to reverse to the downside and complete a breakdown below its primary ascending support level until it can challenge the lower band of its horizontal support area. Forex traders are advised to sell any rallies in the USDCAD from current levels.

The CCI is trading in extreme overbought conditions where a negative divergence formed. This represents a strong bearish trading signal expected to lead the expected price action reversal. Open your PaxForex Trading Account today and find out why more and more forex traders prefer to grow their balance at PaxForex!

Forex Profit Set-Up #2; Buy NZDUSD - D1 Time-Frame

After the NZDUSD competed a breakdown below its horizontal resistance area, price action started to accelerate to the downside which took it below its secondary ascending support level. After reaching the upper band of its horizontal support area, enforced by its primary ascending support level, this currency pair started to recover. The rise in bullish momentum is now favored to recover to the upside and retrace its most recent sell-off. Buying any dips in the NZDUSD down to the lower band of its horizontal support area remains the favored trading approach.

The CCI is trading in extreme oversold territory, but remained well off of its previous low and started to recover. A push above -100 is expected to initiate the next wave of buy orders. Download your PaxForex MT4 Trading Platform now and join our fast growing community of profitable forex traders!

Forex Profit Set-Up #3; Sell USDSGD - D1 Time-Frame

The strong rally in the USDSGD started to fizzle out as bullish momentum is being depleted by its primary descending resistance level, just below its horizontal resistance area. The strong advance is vulnerable to a reversal and as US Dollar uncertainty mounts, price action is anticipated to accelerate to the downside until it can challenge its primary ascending support level. Forex traders are recommended to sell any rallies in the USDSGD into the upper band of its horizontal resistance area.

The CCI is trading in extreme overbought conditions and a drop below the 100 mark is likely to invite more sell orders into this currency pair. Follow the PaxForex Daily Forex Technical Analysis and simply cope the recommended trades of our expert analysts into your own trading account!

[PaxForex]

EURAUD Fundamental Analysis – August 2nd 2019

Following an economic data heavy week, forex traders will get Eurozone retail sales to close out their week. The EURAUD has spiked into strong resistance levels, but bullish momentum is fading as economic data has deteriorated further. How resilient is the Eurozone consumer? US President Trump has announced another round of tariffs on Chinese imports yesterday, how will this impact price action in this currency pair? Subscribe to the PaxForex Daily Fundamental Analysis where you can grow your balance trade-by-trade!

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

Spanish Unemployment Change: The Spanish Unemployment Change for July was reported at -4.3K. Economists predicted a figure of -21.4K. Forex traders can compare this to the Spanish Unemployment Change for June which was reported at -63.8K.
Italian Industrial Production: Italian Industrial Production for June is predicted to decrease by 0.3% monthly and by 2.1% annualized. Forex traders can compare this to Italian Industrial Production for May which increased by 0.9% monthly and which decreased by 0.7% annualized.
Italian Retail Sales: Italian Retail Sales for June are predicted to increase by 0.4% monthly and by 0.2% annualized. Forex traders can compare this to Italian Retail Sales for May which decreased by 0.7% monthly and by 1.8% annualized.
Eurozone PPI: The Eurozone PPI for June is predicted to decrease by 0.3% monthly and to increase by 0.8% annualized. Forex traders can compare this to the Eurozone PPI for May which decreased by 0.1% monthly and which increased by 1.6% annualized.
Eurozone Retail Sales: Eurozone Retail Sales for June are predicted to increase by 0.2% monthly and by 1.3% annualized. Forex traders can compare this to Eurozone Retail Sales for May which decreased by 0.3% monthly and which increased by 1.3% annualized.
The Australian Dollar remained firm after retail sales rose above expectations in June, but came in weaker for the second-quarter excluding inflation. The Australian Dollar remains the top Chinese Yuan proxy trade, but after US President Trump announced yesterday that he will impose additional tariffs on Chinese imports, the EURAUD held its ground. Forex traders are now awaiting the Chinese response to Trump’s announced 10% tariffs on $300 billion worth of imports as he now essentially applied his tariffs on all goods imported from China. How will the EURAUD trade moving forward? Today’s fundamental analysis will take a look at upside and downside potential of this currency pair.

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

Australian PPI: The Australian PPI for the second-quarter increased by 0.4% quarterly and by 2.0% annualized. Forex traders can compare this to the Australian PPI for the first-quarter of which increased by 0.4% quarterly and by 1.9% annualized.
Australian Retail Sales: Australian Retail Sales for June increased by 0.4% monthly. Economists predicted an increase of 0.3% monthly. Forex traders can compare this to Australian Retail Sales for May which increased by 0.1% monthly. Australian Retail Sales excluding Inflation for the second-quarter increased by 0.2% quarterly. Economists predicted an increase of 0.3% quarterly. Forex traders can compare this to Australian Retail Sales excluding Inflation for the first-quarter which decreased by 0.1% quarterly.
Should price action for the EURAUD remain inside the or breakdown below the 1.6230 to 1.6310 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1.6270
Take Profit Zone: 1.5890 – 1.5945
Stop Loss Level: 1.6350
Should price action for the EURAUD breakout above 1.6310 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1.6350
Take Profit Zone: 1.6445 – 1.6500
Stop Loss Level: 1.6310
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Did you receive your MetaTrader4 login? Check your inbox now and join one of the fastest growing forex trading communities at PaxForex, where traders earn more pips per trade!

[PaxForex]

https://paxforex.com/forex-analysis/USDJPY-2-08-2019

Analysis of USDJPY 2.08.2019

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 106.70
• Take Profit Level: 105.70 (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 107.20
• Take Profit Level: 107.50 (30 pips)

GOLD
A possible long position at the breakout of the level 1450.00

USDCHF
A possible short position in the breakdown of the level 0.9850

EURUSD
A possible long position at the breakout of the level 1.1115

GBPUSD
A possible short position in the breakdown of the level 1.2075

[PaxForex]

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
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Are you trading with one of the prime MetaTrader4 brokers? Find out how PaxForex helps each trader to earn more pips per trade and join our fast growing community of profitable forex traders!

[PaxForex]

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.