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MAY

DEEPIND MAY 11 intraday viewPRICE ACTION ANALYSIS IT MAY HIT 85 Deep Industries Limited started in the year 1991, with a primary objective of catering the ever increasing demand for Oil and Gas Industry. Since its inception, Deep Industries Limited has been serving the industry in various segments with the foremost being providing Air & Natural Gas Compressor Services on chartered hire basis, wherein company commands a healthy market position and is also the first company in India to offer such services. In the year 2006, company successfully diversified itself in providing Workover & Drilling Rig Services on chartered hire basis. Currently, company holds a strong fleet of Onshore Workover & Drilling Rigs ranging from 150 HP TO 1500 HP.
DLong
by imperiousgaruda
What is going on Eur/Usd ?What is going on Eur/Usd ? So the price is undergoing a very short-term rebound. This allowed the price to return in the 1.12 area. In fact, after entering short about a month ago and reaching the first target in the area of 1,112 (as indicated in the previous analysis), the price returned again near the previous entry point. Technically, the trend still remains bearish on the main TFs, with the price still below all the main EMA and key static resistances. To reverse the trend in the very short/short period, the price should break the weekly dynamic resistance identified by EMA20 and passer for the 1,126. To reverse it in the short / medium term, the price should even violate upwards the dynamic resistance identified by the EMA200 and passing through the 1.16. The technical analysis is strongly supported by the fundamental scenario. During the week Draghi will speak, declaring the monetary policy that the ECB will adopt in the short term. Which should not surprise analysts and investors, who still expect a strongly expansive policy. This could devaluing the euro, which should loss against the other majors. We expect that this downtrend will start again. So because of what is going on Eur/Usd the first target remains the support area at 1.112; the last target we expect the area located at 1.08.
Short
by BFCMInvest
Worst record of pound, Fed, dollar growth & drop in price of oilEscalation of a trade war has led not only to concerns expansion about global economic growth, but also to a fall in the rates of developing countries’ currencies. Since quotation mainly goes against the dollar, it has become an unwitting beneficiary because of this. The correlation between the dynamics of the dollar and the currencies of developing countries reached a maximum value. So the dollar reigned on its throne again. Given the current US attack on China’s technology sector (just yesterday, Huawei also received 5 more Chinese technology companies from the US Government), analysts at Nordea Investment Funds are expecting the dollar to strengthen further in the foreign exchange market, especially against the currencies of developing countries. However, our position goes contrary to the above. We believe that the dollar climbed too high, and will continue to look for points for its intraday and medium-term sales. The pound, however, is continuing to experience serious difficulties. Against the euro , the dollar is experiencing the longest series of falls in history. May confidently goes to her fourth defeat in an attempt to approve a contract test in Parliament. According to current information, the date of voting is scheduled for June 3. But the pressure on May is increasing also many people are no longer sure that she will generally hold out at the helm before the voting, let alone after its results. Despite a more than obvious fundamental negative, it seems like current prices are already interesting enough to begin the first round of medium-term buying. This is a long game, so you need to be prepared to endure several hundred accumulated losses and periodically average position. But in the end, of course, in our opinion, the transaction should gild or, at least, significantly increase the financial result. The motivation for buying is still the same – “rigid” Brexit, that markets are being discounted for, is an extremely unlikely option, which means that the markets got caught up in selling pounds and went below its fair value, especially in the case of the most gate-breaking outcomes of Brexit: the parties either agree, or a repeated referendum will generally remove this issue from the agenda. The minutes of the last FOMC Fed meeting were published yesterday. Representatives of the Central Bank announced that their "patient" approach will remain relevant for some time. That is, the pause is delayed. As for other news and macroeconomic statistics, inflation in the UK is slightly lower than expected, but markets are not interesting at, for now, so no conclusions can be made about this. Retail sales in Canada came out better than expected and only strengthened our desire to look for points for buying the Canadian dollar. About the oil , perfectly fulfilled our sales recommendations yesterday. The formal reason for the start of sales of steel data from the US Department of Energy on oil reserves in the US, which increased by 4.74 million barrels over the week (the markets were preparing for reduction by 1.7 million barrels). Recall, we recommend medium- term and intraday sales of oil . Thursday promises to be quite a busy day in terms of macroeconomic statistics. First of all, we pay attention to the indicators of business activity in Europe and the USA, as well as the state of the real estate market in the USA. Our trading positions today are as follows: we are looking for points for buying of the euro against the US dollar , sales of oil and the Russian ruble , as well as buying of gold and the Japanese yen .
Long
by Trade24Fx
Technically the gbp/usd is strongly bearishTechnically the gbp/usd is strongly bearish. It is intent on setting new period lows. The price, after having broken down the channel composed by the support ( 1.28 area ) and the resistance ( 1.32 ) has started this very short-term downtrend. In less than five sessions this led him to test the key short/medium term support. This one identified by 23.6% of the Fibonacci retracement and placed in the area around 1.264. For now there are the conditions to see a rebound of the price. The maximum extension on a very short period is on the static resistance of secondary importance set at 1.277. If it reaches this area it will be necessary to wait to see if the price can extend further. And after re-enter in that side channel previously mentioned above 1.28. If it is only a false upside-down movement that will unload all the "oversold" indicators. After it could retrace its steps and push down further, breaking the key support at 1.264 and proceeding towards the minimum of the "Brexit" referendum to date, at around 1.19. Basically the scenario that has been set up around the pound is extreme uncertainty. As it is not yet clear to date the plan that will be implemented to exit the European Union and on what date, it is very likely a further postponement. The investors, not having a clear picture of the situation, are liquidating their positions on the British currency from their portfolios. This is in favor of other majors. Yesterday the prime minister May tried to propose a new deal to the parliament. It was very close to the agreement previously rejected and, therefore, recycled. He had also put forward the hypothesis of a possible "referendum 2", but he did not obtain the approval from his own parliamentarians. So now the macroeconomic scenario is still in the making and marked by a new decline after a very technical uptrend period. Technically the gbp/usd is strongly bearish. So we recommend a long entry with the first TP in the 1,269 area. The second target on 1,273 and third at 1,277. The SL will be set below the key support in the 1,259 area. The main trend remains strongly bearish.
Short
by BFCMInvest
Prospects for peace in trade wars, Japan’s GDP, OPEC+ and BrexitThe previous week has been having a hard time fundamentally duo to Sino-U.S. trade war. China does not intend to a resumption of negotiation still Washington is continuous to speak from a position of strength and power. Therefore the “happy end” was very close but suddenly became subtle. Investors have been hoped for restarting the dialogue and rising in seeking compromise, but on Friday it became clear that it is not something should be counted on. According to the Chinese state media, the country sees no reason for the resumption of the negotiation process. Thus, all hope for a meeting of the heads of China and the United States in the framework of the G-20 summit at the end of June. That is, another month and a half should not count on stress-reduction. From the perspective of such news, we have become even more confident about our position to buy safe-haven assets (Japanese yen and gold). Accordingly, we are planning to look for points for buying safe-haven assets (Japanese yen and gold) on the intraday basis. As for the yen, today's data on Japan's GDP is additional and a strong argument in favor of buying the Japanese currency. GDP growth in the first quarter significantly exceeded analysts' expectations. Everything is still bad with the pound, that ended the week with the strongest decline in the last few years. Markets are selling duo to another Parliament vote failure in Britain. Prime Minister Theresa May is under pressure by not only her opponents but also members of her own party. We are talking about her resignation from the post of a leader according to the results of the fourth vote in Parliament. And the results for the current scenario are predictable - a vote “against” the May plan. Despite the extremely attractive points for pound buying, we continue to wait for a fundamental reason for their start. The results of the previous week appeared pretty successful for oil. But we are still full of pessimism. On the one hand, the trade war is a very negative signal for oil demand, and therefore for a possible increase in asset prices. In addition, we are skeptical about the future of OPEC +. That is, from the supply side in the near future there is a very serious threat. Total, this week we will continue to look for opportunities to sell the asset. But do not tend to get carried away and each intraday position has to be limited with fairly rigid stops. The fact is that the OPEC + meeting held this weekend somehow reassured investors who were nervous. OPEC + participants expressed readiness to comply with the agreement until the end of 2019. And yes, the number of active rigs in the United States has fallen to a minimum over the last 13 months. There are enough bullish signals for oil, especially considering very serious tensions and problem situations in Iran, Venezuela and Libya. As for our preferences for this week in general and Monday in particular, they are as follows: we will look for points for buying the euro against the US dollar, selling oil and the Russian ruble, as well as buying gold and the Japanese yen. Considering how uneasy the financial markets are, we will limit our positions with fairly shortstops, especially since some of the deals are definitely at odds with the current mood on the markets.
Short
by Trade24Fx
Trump backs up, May and pound problems and ruble is in dangerYesterday, the markets continued to watch with bated breath what was happening around the negotiation process between the US and China. Just before the start of the American session, a sigh of relief swept over the financial markets. It is about Trump's tweet, that the Chinese would come to Washington to conclude a treaty. But this time no aggressive rhetoric. The Fear Index (VIX) declined by more than 10% during the day, However, it is still too early to relax and rejoice. On Friday, the United States is going to raise duties on Chinese goods worth $ 200 billion. Bloomberg, meanwhile, has decided to calculate the “price” of Trump's tweets for stock markets. It was about $ 13 billion per word. It does not come cheap to financial markets. Sad news for the pound is coming from the UK. It is about the lack of progress in negotiations between Theresa May and Labor leader Jeremy Corbyn. And this means that the hopes for a partisan compromise on Brexit are melting. Accordingly, it is not necessary to count on a happy ending in the near future. The pound was under pressure and it is understandable. However, the situation may change any time - new information from May or Corbyn may radically change the attitude of markets to the pound. Given the complete current uncertainty, we still refrain from working with the pound in anticipation of any clarity. It is worth noting information from the Ministry of Finance of Russia regarding plans to implement the budget rule. So, from May 14 to June 6, 300.5 billion rubles will be spent on buying foreign currency, that is 16.7 billion rubles a day. For the ruble, this is definitely an alarming and extremely negative signal. Without excess supply in the market recently the ruble felt unwell. And the appearance in the foreign exchange market of 300+ billion rubles is a powerful factor of the downward pressure on the ruble. Recall that our position on the ruble remains unchanged - we use any of its growth for sales. About our vision of the most promising positions for trading today. They are unchanged: buying of the Australian dollar and the euro against the dollar, sales of oil and the Russian ruble, as well as buying of gold and the Japanese yen.
Long
by Trade24Fx
EurUsd price broke again the resistanceEUR/USD price broke again the resistance, we recommend a long entrance with a target of 1,133 / 1,138 with timing not exceeding 2-3 days. Then, once there is a rejection with daily confirmation, reposition short in the short period (a few weeks) with the target area between the 1.10 and the 1.08.. It is returning to the side channel that has been stalling since October. This channel is formed by the static resistance at 1.151 and the support just mentioned (1.118). The main trend of this pair has been set down for more than a year. Due to the opposing monetary policies adopted by the respective central banks. In this period, in the short/very short term, after the slowdown declared by the Fed, that will leave the rates unchanged even in tomorrow's session, a slight weakness is expected from the US dollar against the other majors. An upward breach of 1.133 will bring the price to test the subsequent static resistance, set at 1.138. A rejection by that level will bring the price back below 1.12 sanctioning a continuation of the main downtrend that will bring EURUSD to touch the 1.10 psychological support very soon. To summarize EUR/USD price broke again the resistance, we recommend a long entrance with a target of 1,133 / 1,138 with timing not exceeding 2-3 days. Then, once there is a rejection with daily confirmation, reposition short in the short period (a few weeks) with the target area between the 1.10 and the 1.08.
Long
by BFCMInvest
The price is preparing to break this lateralityThe price is preparing to break this laterality.   The situation kept the price within the channel between support at 0.846 and resistance (both static and dynamic) identified respectively by 38.2% of Fibonacci retracement and by EMA20 weekly periods. If there was a confirmation of closure above this level, the price will tend to reach the subsequent static resistance area. That is located about 0.89, and could register a very short term rally on price. If the price breaks down the support in the 0.843 area, the main downtrend would remain unchanged. Bringing this change back to below 0.80, it can reach a minimum not been touched for 3 years. The macroeconomic scenario remains in favor of a short-term uptrend. The uncertainties of the Eurozone continue to weigh on the reference currency. The monetary policies that will be adopted is favoring a devaluation of the Euro in the medium term. The Brexit situation remains unchanged and according to the main analysts will set new period minimums for gbp by June. The target area that investors aim is between 0.89 and 0.91. From here it is possible that this pair will stabilize and that therefore the descent will continue again towards the EMA200 weekly (0.855). As soon as the closure above this resistance is tested, we will recommend a long entry.
by BFCMInvest
Snooze Ville in FOREX, pound’s immunity and China gives hopeIn general, the previous week was relatively calm. As a result, the volatility index of exchange rates, which is calculated by the investment bank JP Morgan, fell to its new minimum since 2014. For instance EURUSD. Since the beginning of 2019(that is already 3.5 months), it has been fluctuating in a range of width less than 400 points (such a range a pair could pass in 3-4 days even without any volatility explosions). The most likely contenders for the “role” of irritant can only note the start of a full-fledged trade war between the US and the EU. The main event of the week was another Brexit postponement. In general, the word “another” has already become a prefix to Brexit: the next voting in Parliament, the next failure of May’s plan, the next negotiations, etc. The main result of the appearance of this “prefix” was the development of immunity in pounds for information regarding Brexit. The GBPUSD dynamics of last week is proof of that. Actually, we can hardly expect any breakthroughs this week, that means that the pound will continue to fluctuate without a clear direction. This should be used for active trading with no clear preference, buying a pound on descents and selling after local growth. Among other events, it is worth noting the publication of the Fed's minutes, as well as the announcement of the results of the ECB meeting (again, nothing new and unexpected). It is worth paying attention to the block of key data on the Chinese economy (GDP and industrial production). After the next drop in forecasts of the pace of economic development by the IMF, the markets would be very happy to see a positive trend in the economic development of the world economy. In general, there are reasons for optimism. On Friday, data on China’s trade balance were published, which showed an extreme rise in China’s exports. In addition, a sharp increase in loans showed that measures to stimulate the economy in China seem to be yielding results. In terms of trading preferences, we start approximately the same as we ended the previous one: we will continue to look for points for selling the dollar in the foreign exchange market (except USDJPY, we are buying it), buying gold and oil in the commodity markets, besides continue to sell the Russian ruble.
by Trade24Fx