Site map
العربية Български 中文 Čeština English Français Deutsch हिन्दी Bahasa Indonesia Italiano Bahasa Malay اردو Polski Português Română Русский Srpski Slovenský Español ไทย Nederlands Українська Vietnamese বাংলা Ўзбекча O'zbekcha Қазақша

InstaForex Client Area

  • Personal settings
  • Access to all InstaForex services
  • Detailed statistics and reports on trades
  • Full range of financial transactions
  • System of managing several accounts
  • Maximum data protection

InstaForex Partner Area

  • Full information on clients and commissions
  • Graphic statistics on accounts and clicks
  • Webmaster instruments
  • Ready-made web solutions and wide range of banners
  • High data protection level
  • Company's news, RSS feeds, and forex informers
Register account
Affiliate Program
cabinet icon

Another Lamborghini from InstaForex!Maybe it will be you who will take the keys!

Just make a deposit of at least $1,000 to your account!

Get the best trading conditions and attractive bonus offers! We have already given 6 legendary sports cars! But it does not stop there! The next Lamborghini Huracan of the latest generation may be yours!

InstaForex – invest in your victories!

Instant account opening

Get a letter of instructions
toolbar icon

Trading Platform

For mobile devices

For trading via browser

Crypto Industry News:

The head of the non-profit organization behind the digital currency Libra said the company is committed to launching it and removing regulatory obstacles.

Bertrand Perez, CEO of the Libra Association said the token should appear in the second half of 2020.

Comments appeared on the day when the French minister of economy and finance said that the country would refuse Libra to operate within its borders. Concerns about financial stability fueled dislike, and Bruno Le Maire suggested that he wanted the European Union to adopt a hostile position on Libra.

According to Perez, Facebook does not want to create new money resources using a token. He used the comparison to BlackRock, the largest asset management company in the world, saying that the social media giant does not want to compete in this market.

"We don't want to become a new BlackRock. Therefore, concerns about the destabilizing effect of our reserve currency on the central bank fiduciary currencies - which are in our basket - seem unfounded," said Perez.

Perez also confirmed that Libra will be associated with selected major international currencies, but not with Chinese yuan.

Technical Market Overview:

The ETH/USD pair keeps rallying higher and the last local high was made at the level of $194.72. The next target for bulls is seen at the level of $196.76, which is a swing high. The momentum is increasing as well, so the rally might continue even higher, just as Elliott Wave theory scenario proposed last week. The low for the wave Z of the wave 2 of the higher degree is in place at the level of $162.78 already, so now the market might continue with the impulsive wave 3 to the upside. The nearest technical support is seen at the level of $186.70.

Weekly Pivot Points:

WR3 - $212.96

WR2 - $200.24

WR1 - $196.12

Weekly Pivot - $184.92

WS1 - $179.10

WS2 - $168.22

WS3 - $163.07

Trading Recommendations:

The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are being treated as a correction inside of the uptrend. The current cycle is wave 2 of the lower wave degree and it might have been completed, so the uptrend should resume soon. The global investors are waiting for a breakout above the level of $202.59 and $238.68 to confirm the resumption of the uptrend.

Exchange Rates 16.09.2019 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Sebastian Seliga,
Analytical expert
InstaForex Group © 2007-2019
Benefit from analysts’ recommendations right now
Top up trading account
Get a bonus from InstaForex

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade