Australia Trade Data On Tap For Friday

Australia will on Friday release November numbers for imports, exports and trade balance, highlighting a modest day for Asia-Pacific economic activity.

The trade deficit is pegged at A$550 million following the A$1.541 billion shortfall in October.

Malaysia will see November figures for imports, exports and trade balance. In October, imports were worth 59.4 billion ringgit and exports were at 69.2 billion ringgit for a trade surplus of 9.8 billion ringgit.

The material has been provided by InstaForex Company – www.instaforex.com

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تحليلات الاسبوع- Elliott waves for Forex correlation analysis – Gold Silver Oil Weekly Review

Gold Weekly Review:

Gold Silver Oil Weekly Review

Wave Analysis:

During the previous week ending 30th December 2016, the Gold markets retraced to the upper side despite our expectations to continue to the lower side. We expect the upward rally witnessed during the previous week to be a mere retracement and should not go beyond the pivot level  1168 from where we’ll be looking for low risk sell opportunities. The anticipated sell positions is the continuation of the impulsive wave (c) and may end up below 1054. This downward rally is highly anticipated since silver, a positively correlated commodity, is pretty much bearish and will likely head to the lower side for the better parts of this week. Only buy or sell gold if silver is giving the same signal.

Trade Recommendations:

Expect a possible rebound from 1168 to go short with an ideal target at 1054

Silver Weekly Review:
Gold Silver Oil Weekly Review

 

Wave Analysis:

Earlier the previous week, silver markets retraced to the upper side but could not go beyond the resistance level 16.09, instead, the pair rebounded perfectly from this level and is currently showing possible increase in the number of bears. Following the bearish engulfing candle witnessed on 30th December 2016, on the daily chart, we expect a possible bearish wave count as long as the commodity remains below 16.09. The anticipated downward rally is the continuation of the of the motive wave (c ) towards 14.51 and possibly lower. This bearish  rally is highly anticipated since Gold, a positively correlated commodity,  is underwent a similar correction and will likely head to the lower side during this intraday.

Trade Recommendations:

Expect a possible bearish momentum towards 14.51.

Crude Oil Weekly Review:

Gold Silver Oil Weekly Review

 

Weekly Review:

As anticipated, the Crude oil continued bullish during the better parts of the previous trading week and will likely head further to the upper side.  The current chart set and structure is pretty much bullish and chances of accelerating to the upper side are pretty much higher, thus, instead of going short or holding onto any short positions, we’re only interested in potential buy signs. In the meantime, we’re waiting for a clear breakout above 54.52 to give us the green light to continue long with the next ideal target at 60.34. Sell positions can only be reconsidered upon a clear break below 52.41, if this is the case, then we’ll wait for another break below 51.10 to confirm the continuation of the bearish rally.

Trade Recommendations:

Expect a possible bullish price action towards 60.34.                 

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U.s.-based Emerging Markets Equity Funds Attract $153 Mln Over Weekly Period After Two Straight Weeks of Withdrawals -Lipper

U.S.-BASED EMERGING MARKETS EQUITY FUNDS ATTRACT $153 MLN OVER WEEKLY PERIOD AFTER TWO STRAIGHT WEEKS OF WITHDRAWALS -LIPPER
The material has been provided by InstaForex Company – www.instaforex.com

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U.s.-based Emerging Markets Debt Funds take in $65 Mln Over Weekly Period, Following 7 Straight Weeks of Outflows -Lipper

U.S.-BASED EMERGING MARKETS DEBT FUNDS TAKE IN $65 MLN OVER WEEKLY PERIOD, FOLLOWING 7 STRAIGHT WEEKS OF OUTFLOWS -LIPPER
The material has been provided by InstaForex Company – www.instaforex.com

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