Technical Analysis from IFC Markets

[IFC Markets]

GBP/USD Technical Analysis - GBP/USD Trading: 2021-10-18​

GBP/USD Technical Analysis Summary​

Buy Stop:Above 1,378

Stop Loss:Below 1,341​

Indicator	Signal
RSI	Buy
MACD	Buy
MA(200)	Neutral
Fractals	Buy
Parabolic SAR	Buy
Bollinger Bands	Neutral

GBP/USD Chart Analysis​

GBP/USD Technical Analysis​

On the daily timeframe, GBPUSD: D1 approached the upper border of the descending channel and the 200-day moving average line. They must be broken upward before opening a position. A number of technical analysis indicators have generated signals for further growth. We do not rule out a bullish movement if GBPUSD rises above its last high and 200-day moving average line: 1.378. This level can be used as an entry point. The initial risk limitation is possible below the Parabolic signal and the last two lower fractals: 1.341. After opening a pending order, move the stop to the next fractal low following the Bollinger and Parabolic signals. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (1.341) without activating the order (1.378), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of Forex - GBP/USD​

In Britain, there were positive macroeconomic data. Will the GBPUSD quotes continue to rise?

British GDP in August grew by 6.9% in annual terms. This is above the forecast + 6.7%. Let's remind that in the 2nd quarter the economic growth was 23.6% in annual terms. Thanks to good statistics, the likelihood of a Bank of England (BoE) rate hike at the meeting on December 16, 2021 approached 70%. It was also helped by the acceleration in the growth of the United Kingdom Consumer Price Index (inflation) in August to 3.2%, which is the highest since March 2012. Remember that inflation for September will be released on October 20. According to forecasts, it may grow even more and amount to 3.4%. A strengthening of the pound is possible if the BoE rate rises. Now it is + 0.1%.

 

[IFC Markets]

Hang Seng Index Technical Analysis - Hang Seng Index Trading: 2021-10-19​

Hang Seng Index Technical Analysis Summary​

Buy Stop:Above 25700​

Stop Loss:Below 23700​

Indicator	Signal
RSI	Buy
MACD	Buy
MA(200)	Neutral
Fractals	Buy
Parabolic SAR	Buy
Bollinger Bands	Neutral

Hang Seng Index Chart Analysis​

Hang Seng Index Technical Analysis​

On the daily timeframe, HK50: D1 broke up the downtrend resistance line. A number of technical analysis indicators have formed signals for further growth. We do not rule out a bullish movement if HK50: D1 rises above the last high: 25700. This level can be used as an entry point. The initial risk limitation is possible below the last lower fractal, the Parabolic signal and the minimum for 12 months: 23700. After opening the pending order, move the stop following the Bollinger and Parabolic signals to the next fractal minimum. Thus, we change the potential profit / loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (23700) without activating the order (25700), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of Indices - Hang Seng Index​

The Central Bank of China announced that it controls the risks associated with the activities of the construction company China Evergrande Group. Will the HK50 quotes continue to grow?

It should be emphasized that China Evergrande Group shares are not listed in the Hang Seng General Index (HSI), but they are present in its sectors such as the Hang Seng Composite Index (HSCI) and a few others. The company is ranked 227th in the world according to the Forbes rating, and in China it is 31st. People's Bank of China (Chinese Central Bank) said that the financial difficulties of China Evergrande Group are a special case. The risks of spreading them to other companies and banks are manageable. Thanks to this, China Evergrande Group ADR in the US rose 4.3% on Monday. The Hang Seng Index climbed 0.3% despite slowing Chinese GDP growth in the third quarter of 2021 to + 4.9% on an annualized basis from 7.9% in the second quarter. This is worse than expected (+ 5.2%). Note that the Hang Seng has declined by 6.7% since the beginning of this year and is far behind other global indices. S&P 500 growth since the beginning of the year has grown by 19.3%, DAX - by 12.8%, FTSE 100 - by 11.5%, Nikkei 225 - by 5.8%.

 

[IFC Markets]

Oil vs Gas Technical Analysis - Oil vs Gas Trading: 2021-10-20​

Oil vs Gas Technical Analysis Summary

Buy Stop:Above 0.644​

Stop Loss:Below 0.486​

Indicator	Signal
RSI	Buy
MACD	Buy
MA(200)	Neutral
Fractals	Buy
Parabolic SAR	Buy
Bollinger Bands	Buy

Oil vs Gas Chart Analysis​

Oil vs Gas Technical Analysis​

On the daily timeframe, SumOIL/GAS: D1 broke up the resistance line of the declining channel. A number of technical analysis indicators have generated signals for further growth. We do not rule out a bullish movement if SumOIL/GAS: D1 rises above the last upper Bollinger band and the last high: 0.644. This level can be used as an entry point. Initial risk limitation is possible below the Parabolic signal, the last three lower fractals, the 11-month low and the lower Bollinger line: 0.486. After opening a pending order, move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (0.486) without activating the order (0.644), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of PCI - Oil vs Gas​

In this review, we suggest looking at Personal Composite Instrument (PCI) & SumOIL/GAS. It reflects the price dynamics of a portfolio of two crude oil futures - Brent and WTI versus natural gas futures. Will the SumOIL/GAS quotes go up?

This movement means that oil is getting more expensive and natural gas is getting cheaper. U.S. The Energy Information Administration (EIA) expects to increase natural gas production from shale fields in November 2021 by 257 million cubic feet per day. The EIA also projects an average US natural gas price of $ 5.67 MMBtu (million British thermal units) for the winter period from October 2021 to March 2022. This is slightly above the current level. Starting from the 2nd quarter of 2022, EIA expects gas prices to decline by about 30% to $ 4.01 MMBtu, on average, by the end of next year. This could be facilitated by an increase in production to 96.4 billion cubic feet per day compared to 92.6 billion cubic feet per day this year. The main reason for the current rise in the price of American gas was the increase in LNG (LNG) exports. At the same time, growth in consumption within the United States is expected to be only 2% compared to last year. This forecast contributed to the correction of gas quotes. However, further on, their dynamics will mainly depend on the temperature in winter and the growth rate of production in the United States, as well as on the demand for LNG in Asian countries. The rise in world oil prices was driven by a slow increase in OPEC + production amid the global economic recovery after the coronavirus epidemic. On November 4, OPEC + will increase production by only 400 thousand barrels per day.

 

[IFC Markets]

Corn Technical Analysis - Corn Trading: 2021-10-21​

Corn Technical Analysis Summary​

Buy Stop:Above 555​

Stop Loss:Below 495​

Indicator	Signal
RSI	Neutral
MACD	Sell
MA(200)	Buy
Fractals	Neutral
Parabolic SAR	Buy
Bollinger Bands	Neutral

Corn Chart Analysis​

Corn Technical Analysis​

On the daily timeframe, CORN: D1 is in an ascending channel and approached the 200-day moving average line. Before opening a position, he must overcome it. A number of technical analysis indicators have generated signals for further growth. We do not rule out a bullish movement if CORN: D1 rises above the 200-day moving average, the last upper fractal and the upper Bollinger band: 555. This level can be used as an entry point. The initial risk limitation is possible below the Parabolic signal, the lower Bollinger line and the last three lower fractals: 495. After opening a pending order, move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit / loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (495) without activating the order (555), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of Commodities - Corn​

Corn imports in China increased in September. Will the CORN quotes grow?

According to the General Administration of Customs of the People's Republic of China (GACC), corn imports to China in September 2021 more than tripled compared to the same month in 2020 and reached 3.5 million tons. Another factor in the rise in corn prices may be an increase in the volume of its processing for biofuels in the United States. According to the United States Department of Agriculture (USDA), U.S. ethanol production reached 1.1 million barrels per day (bpd) last week. This is the maximum volume since 2018, before the coronavirus epidemic. Ethanol is used as a biofuel. The demand for it has increased against the background of a strong growth in oil prices. Since the beginning of 2021, WTI has already risen in price by 72%, and corn by only 13%. Unlike the countries of South America, the United States uses mainly corn for the production of biofuels, rather than sugar cane. In the production of corn, the United States ranks 1st in the world, and in the production of sugar - 6th.

 

[IFC Markets]

Orange Juice Technical Analysis - Orange Juice Trading: 2021-10-22​

Orange Juice Technical Analysis Summary​

Buy Stop: Above 129​

Stop Loss: Below 118​

Indicator	Signal
RSI	Neutral
MACD	Sell
MA(200)	Neutral
Fractals	Neutral
Parabolic SAR	Buy
Bollinger Bands	Neutral

Orange Juice Chart Analysis​

Orange Juice Technical Analysis​

On the daily timeframe, ORANGE: D1 has not yet turned upward. A buy signal may appear if the 200-day moving average line is exceeded. Several technical analysis indicators have generated signals for further upside. We do not rule out a bullish movement if ORANGE rises above the 200-day moving average line: 129. This level can be used as an entry point. The initial risk limitation is possible below the Parabolic signal and the lower Bollinger line: 118. After opening a pending order, move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (118) without activating the order (129), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of Commodities - Orange Juice​

In the US, the citrus crop is expected to decline. Will the ORANGE quotes grow?

The United States Department of Agriculture (USDA) expects a 12% drop in orange harvest in the 2021/2022 agricultural season from 2020/2021 to 3.88 million tonnes. In the state of Florida, the harvest may decrease by 11% and in California - by 13%. Recall that in the current season 2020/2021, orange production in the United States also decreased compared to the 2019/2020 season - by 15%.

 

[IFC Markets]

Gold Euro Technical Analysis - Gold Euro Trading: 2021-10-25​

Gold Euro Technical Analysis Summary​

Buy Stop:Above 1560​

Stop Loss:Below 1470​

Indicator	Signal
RSI	Neutral
MACD	Buy
MA(200)	Buy
Fractals	Neutral
Parabolic SAR	Buy
Bollinger Bands	Neutral

Gold Euro Chart Analysis​

Gold Euro Technical Analysis​

On the daily timeframe, XAUEUR: D1 has already broken the triangle and downtrend resistance line upwards for the 2nd time, and has also exceeded the 200-day moving average line. A number of technical analysis indicators have generated signals for further growth. We do not rule out a bullish movement if XAUEUR: D1 rises above its last high and upper Bollinger band: 1560. This level can be used as an entry point. The initial risk limitation is possible below the 200-day moving average line, the Parabolic signal, the lower Bollinger line and 3 lower fractals: 1470. After opening a pending order, move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit / loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (1470) without activating the order (1560), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of Precious Metals - Gold Euro​

Precious metals may rise in price amid increasing risks of another wave of coronavirus. Will the XAUEUR quotes continue to rise?

According to the World Health Organization, in Europe the average number of infected with Covid-19 has increased in 7 days and reached 173 thousand. This is more than the July maximum, which was 161 thousand. An additional positive factor for gold may be the low yield of government bonds of developed countries, which is now noticeably lower inflation. For example, the yield on Germany 10-Year Bond is negative at -0.1%. At the same time, inflation in Germany in September amounted to 4.1% in annual terms.

 

[IFC Markets]

EUR/JPY Technical Analysis - EUR/JPY Trading: 2021-11-01​

EUR/JPY Technical Analysis Summary​

Sell Stop:Below 131,5​

Stop Loss:Above 133,5​

Indicator	Signal
RSI	Neutral
MACD	Buy
MA(200)	Neutral
Fractals	Neutral
Parabolic SAR	Sell
Bollinger Bands	Neutral

EUR/JPY Chart Analysis​

EUR/JPY Technical Analysis​

On the daily timeframe, EURJPY: D1 is correcting downward from the upper border of the descending channel. A number of technical analysis indicators have formed signals for further decline. We do not rule out a bearish movement if EURJPY falls below its last low: 131.5. This level can be used as an entry point. The initial risk limitation is possible above the last upper fractal and the Parabolic signal: 133.5. After opening a pending order, move the stop to the next fractal maximum following the Bollinger and Parabolic signals. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (133.5) without activating the order (131.5), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of Forex - EUR/JPY​

According to preliminary data for October, inflation in the European Union has noticeably increased. Will the EURJPY quotes continue to decline?

The downward movement means the strengthening of the Japanese yen versus the euro. According to preliminary data, the European Union Consumer Price Index (CPI) in October rose by 4.1% in annual terms. This is the highest increase since July 2008. Inflation data came out the next day after a regular meeting of the European Central Bank (ECB), at which it was announced that no rate hike (0%) and tightening of monetary policy were planned. Because of this, negative inflation data weakened the euro noticeably. For the first time since March 2020, EURUSD plunged more than 1% in one day. In turn, the Tokyo Consumer Price Index (CPI) for October was also published in Japan. This is the so-called Tokyo inflation, which often indicates the direction of inflation in the entire country. On an annualized basis, Tokyo CPI rose 0.1% in October. Bank of Japan (BoJ) rate is negative and amounts to -0.1%. It is close to the 0% ECB rate. At the same time, inflation in the European Union is much higher. In theory, this can affect the rate of the currency pair in question. Inflation for October will be released in Japan on November 18th. In September, it amounted to 0.2% in annual terms.

 

[IFC Markets]

Wheat vs Canadian dollar Technical Analysis - Wheat vs Canadian dollar Trading: 2021-11-02​

Wheat vs Canadian dollar Technical Analysis Summary​

Buy Stop: Above 1000​

Stop Loss: Below 875​

Indicator	Signal
RSI	Neutral
MACD	Buy
MA(200)	Neutral
Fractals	Buy
Parabolic SAR	Buy
Bollinger Bands	Buy

Wheat vs Canadian dollar Chart Analysis​

Wheat vs Canadian dollar Technical Analysis​

On the daily timeframe, WHEAT/CAD: D1 is in a long-term uptrend. The price crossed the resistance line, the upper border of the triangle. A number of technical analysis indicators have formed signals for further growth. We do not rule out a bullish movement if WHEAT/CAD rises above the last daily high and high since March 2008: 1000. This level can be used as an entry point. The initial risk limitation is possible below the Parabolic signal, the lower Bollinger line and the 200-day moving average line: 875. After opening a pending order, move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (875) without activating the order (1000), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of PCI - Wheat vs Canadian dollar​

In this review, we propose to look at the Wheat versus Canadian Dollar Personal Composite Instrument (PCI). It increases with the rise in prices for wheat on the world market and the weakening of the Canadian currency. Is the growth of WHEAT/CAD quotes possible?

Wheat quotes may rise due to the European Commission's message that the harvest in Europe in the agricultural season 2021/2022 may be 700 thousand tons less than the previous forecast and amount to 130.3 million tons. Grain production is expected to decline in France, Romania and Hungary. Remember that in the previous season 2020/2021, the wheat harvest in the EU amounted to 117.1 million tons. Earlier, the United States Department of Agriculture (USDA) cut its forecast for the wheat harvest in the season 2021/2022 to 44.8 million tons. This is 10% less compared to the previous season 2020/2021. Note that the export of wheat from the United States over the past time of the 2021/2022 season decreased more. It is 22% less than in the corresponding part of the previous season 2020/2021. In turn, the weakening of the Canadian dollar may occur against the background of the correction of prices for natural gas, oil and coal.

 

[IFC Markets]

Soybean Meal Technical Analysis - Soybean Meal Trading: 2021-11-03​

Soybean Meal Technical Analysis Summary​

Buy Stop:Above 335​

Stop Loss:Below 310
​

Indicator	Signal
RSI	Neutral
MACD	Buy
MA(200)	Neutral
Fractals	Buy
Parabolic SAR	Buy
Bollinger Bands	Neutral

Soybean Meal Chart Analysis​

Soybean Meal Technical Analysis​

On the daily timeframe, SOYBM: D1 broke up the downtrend resistance line. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if SOYBM rises above the last high: 335. This level can be used as an entry point. The initial risk limitation is possible below the minimum since September 2020, the last two lower fractals and the Parabolic signal: 310. After opening a pending order, move the stop following the Bollinger and Parabolic signals to the next fractal minimum. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (310) without activating the order (335), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of Commodities - Soybean Meal​

According to the United States Department of Agriculture (USDA), processing of US soybeans declined in September. Will the SOYBM quotes continue to rise?

An increase in demand for soybean meal may be facilitated by a decrease in soybean processing volumes in the United States, in September 2021, to 4.92 million tons. This is 2.6% less than in August of this year and 4% less than in September 2020. The volume of processing of soybeans as a food for farm animals (meal produced for animal feed) amounted to 3.59 million tons in September 2021, which is 4.2% less than the same period last year. An important factor in the rise in prices for soybeans may also be the rise in world prices for fertilizers and fuel for agricultural machinery. It should also be noted that according to the USDA, China may increase its soybean imports in 2021 by 2%.

 

[IFC Markets]

EUR/USD Technical Analysis - EUR/USD Trading: 2021-11-04​

EUR/USD Technical Analysis Summary​

Sell Stop:Below 1.1542​

Stop Loss:Above 1.1606​

Indicator	Signal
RSI	Buy
MACD	Sell
Donchian Channel	Sell
MA(200)	Sell
Fractals	Neutral
Parabolic SAR	Sell

EUR/USD Chart Analysis​

EUR/USD Technical Analysis​

The technical analysis of the EURUSD price chart on 1-hour timeframe shows EURUSD: H1 is retreating after testing the 200-period moving average MA(200) which is falling. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.1542. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.1606. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Forex - EUR/USD​

German factory orders growth was smaller than expected in September. Will the EURUSD price continue retreating?

German factory orders growth was smaller than expected in September. The statistics office Destatis reported German factory orders rose 1.3% over month in September after 8.8% drop in August when a 1.7% growth was forecast. This is bearish for EURUSD.

 

[IFC Markets]

EUR/USD Technical Analysis - EUR/USD Trading: 2021-11-05​

EUR/USD Technical Analysis Summary​

Sell Stop: Below 1.1530​

Stop Loss:Above 1.1560​

Indicator	Signal
RSI	Neutral
MACD	Sell
Donchian Channel	Neutral
MA(200)	Sell
Fractals	Neutral
Parabolic SAR	Sell

EUR/USD Chart Analysis​

EUR/USD Technical Analysis​

The technical analysis of the EURUSD price chart on 1-hour timeframe shows EURUSD: H1 is retreating after a rebound following the decline to three-week low yesterday. The 200-period moving average MA(200) is falling. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.1530. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.1560. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Forex - EUR/USD​

Euro zone retail sales fell in September. Will the EURUSD price continue retreating?

Euro zone retail sales fell in September. The statistics office Eurostat reported the retail trade volume fell 0.3% over month in September after 2.5% gain August when a 0.2% growth was forecast. This is bearish for EURUSD.

 

[IFC Markets]

EUR/USD Technical Analysis - EUR/USD Trading: 2021-11-08​

EUR/USD Technical Analysis Summary​

Buy Stop:Above 1.1575​

Stop Loss:Below 1.1550​

Indicator	Signal
RSI	Neutral
MACD	Buy
Donchian Channel	Neutral
MA(200)	Sell
Fractals	Neutral
Parabolic SAR	Buy

EUR/USD Chart Analysis​

EUR/USD Technical Analysis​

The technical analysis of the EURUSD price chart on 1-hour timeframe shows EURUSD: H1 has fallen below the 200-period moving average MA(200) but is attempting to rebound after hitting four-month low last Friday. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.1575. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 1.1550. After placing the order, the stop loss is to be moved to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Forex - EUR/USD​

Euro zone investors sentiment improved in November. Will the EURUSD price rebound continue?

Euro zone investors’ sentiment improved in November: Sentix reported its investor confidence index rose to 18.3 for November from 16.9 in October, when a decline to 14.9 was forecast. This is bullish for EURUSD.

 

[IFC Markets]

EUR/USD Technical Analysis - EUR/USD Trading: 2021-11-09​

EUR/USD Technical Analysis Summary​

Sell Stop։Below 1.1578​

Stop Loss։Above 1.1606​

Indicator	Signal
RSI	Neutral
MACD	Sell
Donchian Channel	Sell
MA(200)	Sell
Fractals	Sell
Parabolic SAR	Sell

EUR/USD Chart Analysis​

EUR/USD Technical Analysis​

The technical analysis of the EURUSD price chart on 1-hour timeframe shows EURUSD: H1 has breached below the 200-period moving average MA(200) which is leveling off. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.1578. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.1606. After placing the order, the stop loss is to be moved to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Forex - EUR/USD​

German ZEW economic sentiment improved in November. Will the EURUSD price reverse its retreating?

German ZEW economic sentiment improved in November. The ZEW survey results showed German ZEW economic sentiment index rose to 25.9 for November from 21.0 for October, when a decline to 20.6 was expected. This is bullis for EURUSD. However, the current setup is bearish for the pair.

 

[IFC Markets]

GBP/USD Technical Analysis - GBP/USD Trading: 2021-11-11​

GBP/USD Technical Analysis Summary​

Sell Stop:Below 1.3363​

Stop Loss:Above 1.3432​

RSI	Neutral
MACD	Buy
Donchian Channel	Neutral
MA(200)	Sell
Fractals	Neutral
Parabolic SAR	Sell

GBP/USD Chart Analysis​

GBP/USD Technical Analysis​

The technical analysis of the GBPUSD price chart on 1-hour timeframe shows GBPUSD: H1 has resumed retreating below the 200-period moving average MA(200) which is falling itself. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.3363. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.3432. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Forex - GBP/USD​

UK’s gross domestic product (GDP) growth slowed in third quarter. Will the GBPUSD price retreat continue?

UK’s gross domestic product (GDP) growth slowed in third quarter: the Office for National Statistics reported Q3 UK GDP grew 1.3% over quarter after 5.5% growth in Q2, when a faster growth at 1.5% was forecast. This is bearish for GBPUSD.

 

[IFC Markets]

Copper Technical Analysis - Copper Trading: 2021-11-12​

Copper Technical Analysis Summary​

Buy Stop:Above 4.4314​

Stop Loss:Below 4.2263​

Indicator	Signal
RSI	Neutral
MACD	Neutral
Donchian Channel	Neutral
MA(200)	Buy
Fractals	Buy
Parabolic SAR	Sell

Copper Chart Analysis​

Copper Technical Analysis​

The technical analysis of the COPPER price chart in daily timeframe shows #C-COPPER,Daily has reflected off the 200-day moving average MA(200) which is rising. The COPPER price has failed to breach the support too. We believe the bullish momentum will continue as the price breaches above the upper Donchian boundary at 4.4314. A pending order to buy can be placed above that level. The stop loss can be placed below 4.2263. After placing the order, the stop loss is to be moved every day to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Commodities - Copper​

China’s copper import rose in October. Will thecopper price rebound continue?

China is world's top consumer of refined copper - China accounted for 51% of the global copper consumption in 2019. China copper imports rose for a second month in October. Arrivals of unwrought copper and products into China were 410,541.3 tons last month, up from 406,015.6 tons in September according to the General Administration of Customs. World’s top copper consumer’s rising imports are bullish for copper. However unfolding crisis in China’s real estate sector may negatively impact demand for copper and is a downside risk for copper price. Evergrande, China’s top real estate company, paid bondholders overdue coupon payments yesterday, easing concerns about a potentially destabilizing default. However reports of other developers’ liquidity issues weighs on investor sentiment - Kaisa Group Holdings, which ranks second among high yield bond real estate issuers, suspended trading in its Hong Kong-listed shares last Friday before the stock market opened. Moody’s ratings agency wrote in late October that the rated developers will need to pay or refinance tens of billions of dollars’ worth of debt in the coming 12 months: $33.1 billion of onshore bonds listed in mainland China, and $43.8 billion of offshore U.S.-dollar denominated bonds.

 

[IFC Markets]

USD/JPY Technical Analysis - USD/JPY Trading: 2021-11-15​

USD/JPY Technical Analysis Summary​

Buy Stop։Above 114.01​

Stop Loss։Below 113.79​

Indicator	Signal
RSI	Neutral
MACD	Neutral
Donchian Channel	Buy
MA(200)	Buy
Fractals	Neutral
Parabolic SAR	Buy

USD/JPY Chart Analysis​

USD/JPY Technical Analysis​

The technical analysis of the USDJPY price chart on 1-hour timeframe shows USDJPY: H1 is attempting to retrace up above the 200-period moving average MA(200). The price reversed its rising after hitting a weekly high a day ago. We believe the bullish movement will resume after the price breaches above the upper bound of the Donchian channel at 114.01. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 113.79. After placing the order, the stop loss is to be moved to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Forex - USD/JPY​

Japan’s economic contraction was bigger than expected in the third quarter. Will the USDJPY price rebound resume?

Japan’s economy contraction was bigger than expected in the third quarter: the Cabinet Office reported the Q3 gross domestic product (GDP) declined 0.8% over quarter following 0.5% growth in Q2, when an 0.2% decrease was forecast. This is bullish for USDJPY.

 

[IFC Markets]

GBP/USD Technical Analysis - GBP/USD Trading: 2021-11-17​

GBP/USD Technical Analysis Summary​

Sell Stop:Below 1.3395
Stop Loss:Above 1.3473​

Indicator	Signal
RSI	Neutral
MACD	Sell
Donchian Channel	Neutral
MA(200)	Sell
Fractals	Neutral
Parabolic SAR	Buy

GBP/USD Chart Analysis​

GBP/USD Technical Analysis​

The technical analysis of the GBPUSD price chart on 1-hour timeframe shows GBPUSD: H1 failed to breach above the 200-period moving average MA(200) which is falling itself. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.3395. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.3473. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Forex - GBP/USD​

UK’s inflation was higher than expected in October. Will the GBPUSD price retreat reverse?

UK’s inflation was higher than expected in October: the Office for National Statistics reported UK inflation rose to 4.3% over year in October from 3.1% in September, when a 3.9% increase was forecast. This is bullish for GBPUSD. However, the current setup is bearish for the pair.

 

[IFC Markets]

Orange Juice Technical Analysis - Orange Juice Trading: 2021-11-18​

Orange Juice Technical Analysis Summary​

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Buy Stop:Above 132.04​

Stop Loss:Below 116.11​

Indicator	Signal
RSI	Neutral
MACD	Buy
Donchian Channel	Neutral
MA(200)	Buy
Fractals	Neutral
Parabolic SAR	Buy

Orange Juice Chart Analysis​

Orange Juice Technical Analysis​

The technical analysis of the ORANGE price chart in daily timeframe shows #C-ORANGE: D1 has breached above the 200-day moving average MA(200) which has started rising itself. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 132.04. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 116.11. After placing the pending order the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (116.11) without reaching the order (132.04) we recommend cancelling the order: the market sustains internal changes which were not taken into account.

Fundamental Analysis of Commodities - Orange Juice

Florida’s orange plantations continue to suffer from orange trees disease that has reduced crop yield many times. Will the orange prices continue rebounding?

Florida’s orange plantations suffer from a disease. The citrus greening disease, also known as HLB attacks and “suffocates” trees in Florida. The University of Florida estimates the greening disease has caused citrus growing to plunge by 80% over 15 years. HLB causes severe yield decline the older a citrus tree gets. Florida’s citrus acreage is planted with older, low-producing citrus trees. Nearly 57% of Florida’s oranges and 70% of red grapefruit trees are more than 14 years old according to the University of Florida, and these older trees have produced about 1.5 boxes per tree, down from more than five boxes per tree before HLB. Continuing HLB infection that reduces orange plantations yield is bullish for orange price. At the same insufficient tree replacement has also contributed to the decline in crop yields - there has only been one season since the 1999-2000 season when the number of replanted has exceeded lost trees. While Florida’s orange crop is down and is estimated to decline further, demand for orange juice keeps increasing as COVID-19 caused people to be more health-conscious and consume more orange juice. More than 90% of Florida’s orange crop is being squeezed for juice.

 

[IFC Markets]

EUR/USD Technical Analysis - EUR/USD Trading: 2021-11-19​

EUR/USD Technical Analysis Summary​

Sell Stop:Below 1.1282​

Stop Loss:Above 1.1360​

Indicator	Signal
RSI	Buy
MACD	Sell
Donchian Channel	Sell
MA(200)	Sell
Fractals	Sell
Parabolic SAR	Sell

EUR/USD Chart Analysis​

EUR/USD Technical Analysis​

The technical analysis of the EURUSD price chart on 1-hour timeframe shows EURUSD: H1 has resumed declining below the 200-period moving average MA(200) after breaching below the support line. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.1282. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.1360. After placing the order, the stop loss is to be moved to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Forex - EUR/USD​

German producer prices continued to rise in September. Will the EURUSD price reverse its retreating?

German producer prices continued to rise in September. The federal statistics office Destatis reported Producer Price Index (PPI) rose 3.8% over month in September after 2.3% gain in August. This is bullish for EURUSD. However, the current setup is bearish for the pair.

 

[IFC Markets]

USD/CAD Technical Analysis - USD/CAD Trading: 2021-11-22​

USD/CAD Technical Analysis Summary​

Sell Stop:Below 1.2629
Stop Loss:Above 1.2659​

Indicator	Signal
RSI	Neutral
MACD	Sell
Donchian Channel	Sell
MA(200)	Buy
Fractals	Sell
Parabolic SAR	Sell

USD/CAD Chart Analysis​

USD/CAD Technical Analysis​

The technical analysis of the USDCAD price chart on 1-hour timeframe shows USDCAD: H1 has breached below the support line above the 200-perid moving average MA(200) which is rising still. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.2629. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.2659. After placing the order, the stop loss is to be moved to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Forex - USD/CAD​

Canada’s retail sales decline was smaller than forecast in October. Will the USDCAD price continue falling?

Canada’s retail sales decline was smaller than forecast in October: Statistics Canada reported retail sales declined 0.6% over month in October after 1.8% increase in September, when a 1.6% drop was expected. This is bullish for USDCAD.