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Higher output of wheat aided India’s food grain production to boost marginally to 252.22 million tonnes in the crop year ended June, in spite of setbacks owing to poor rainfall and a shortage of water in reservoirs, as per the government’s latest estimates. The figure was little changed from 252.23 million tonnes according to the third advance estimate in May.
Production of rice, pulses, coarse cereals, sugarcane, oilseeds, cotton and jute was lower due to irregular rainfall during the 2015 monsoon season, the Ministry of Agriculture said in its fourth advance estimates of major crops.
India had two consecutive years of less rainfall that hurt farmers in many parts of the country who depend on the monsoon to water their crops. However, the weather office has predicted an above-normal monsoon this year.
As per the third advanced estimate of May, the production of pulses has been revised downwards to 16.47 million tonnes from 17.06 million tonnes, while pulses output recorded at 17.15 million tonnes in 2014-15. Wheat Production is estimated at 93.5 million tonnes in 2015-16, an 8 percent growth from 86.53 million tonnes in last year.
Rice output is estimated to have fallen 1.1 percent to 104.32 million tonnes, from 105.48 million tonnes in 2014-15. Total production of coarse cereals is pegged at 37.94 million tonnes compared with 42.86 million tones that was in last year.
Total oilseed production has gone down to 25.3 million tonnes from 27.51 million tones and the production of sugarcane is estimated to have fallen to 352.16 million tonnes from 362.33 million tonnes.
Read More@ mcrworld.com/pulses-output-down/
USD/JPY is forming a double top at the resistance level on M5 chart. If a pattern gets completed I recommend shorting it, with a target at the distance of the heighth of a double top pattern and a SL above the bottom of the pattern (the neckline), a 1 : 2 Risk : Reward Ratio.
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Technical Analysis (IRE) (Kingman) and jockey Jose Ortiz win the Ballston Spa (Gr II) at Saratoga Racecourse 8/27/22. Trainer: Chad Brown. Owner: Klaravich Stables
The pair has been trading in a range horizontally for one month. It is now approaching the upper limit of this range. A short position can be opened near recent high to play the scenario of some profit taking near the upper limit. A short position can be opened on current levels. Should it turn positive, place a stop loss immediately above the recent highs, and take profits quickly near today’s low. Such a trade, though risky, could offer a reward of 4R (assuming you placed your stop loss 5pips away).
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When the very strong support of 118,40 is broken, then we go Short at this level SL 118,75 and TP 117,90
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From analysis the EURUSD is expected to move down to 1.0815 support area after breaking through the trendline on the 1 hour chart. ADX is also indicating a slight strength in the down movement. So my entry was a break below 1.0885 at 1.0874. SL just above the resistance of 1.0885 and expected profit target is 5 pips before the expected S1. A break below 1.0815 should see price target S2 at 1.0722.
#eurusd #forex #fxtrading #investing #traders #fxtraders #trading #fx
The fx pair is in a correction on H1 TF. Or the correction also can be a base building to move downward. To this if the bigger TF movements, the down move or base building -doesn’t matter in this case- added than the result is the more percentage to a coming down move. On the other side the market easily can move to upper levels also easily. Because the confusion of the sides better to take positions just like in a counter trend. To take after this a position better to wait for a proof for one of the side and step in just after.
Opening a position: in every M5 pullback end to the given directions. Every time it is important to take care for the contexts.
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Selling EUR/USD, as the pair has reached oversold levels on M5 and M15 in the near term, the pair has rallied this morning to the upside, but RSI is already beyond 70 on M5 and M15 and a correction is imminent, resistance lies at 1.0705 so some ground for the upside is still possible. Price action outside Bollinger band until M30.
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The fx pair is in a correction. Just how it was said yesterday the market may move to a bigger TF. And this is just happened. Against the last day expectation this is a H2 or H4 correction and some kind of range has developed. The two strong down move are also supporting this and therefore it is OK to expect another bigger down move in a channel stile way fallowing the rule of alternation. To trade this first LONG position can be taken with the minimum TP of the yesterday’s last lower high or R1. After good to look for SHORT again with the TP of S1 or S2.
Opening a position: in every M5 pullback end to the given directions. Every time it is important to take care for the contexts.
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- At Pivot, price consolidated and recover. Go Long at this level. SL at 168.30. TP at R2.
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The fx pair is just looks in some kind of base building to get some power before the bigger up move will start. This is also proven by the ongoing correction of the still existing downtrend (bigger TF) because it is so big and confusing. This all means it is good to expect new low but with just a few pips and new highs as well. To trade in both case it is good to think in short terms. Until the market won’t reach minimum to close distance to S2 good to take SHORT positions. And also it is good to take Long positions if like S1 holds but just for short term and for one round.
Opening a position: in every M5 pullback end to the given directions. Every time it is important to take care for the contexts.
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A strong resistance level at 1.0855 was tested. A good short position was between the trend line and the resistance level.
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The fx pair on bigger timeframe seems to be in a end of a triangle. This is means the market is getting closer to a break out from it. From an intraday view this means huge sideways moves in a stenosis channel. And for today the expectation is two downswing. So SHORT position can be taken with the TP of S1 for first. At that point take care. At one point of the day the market will form a correction before it begin to move again to down ward. This expected to happen only at that case if the first movement won’t take out or get closer to S2 for first.
Opening a position: in every M5 pullback end to the given directions. Every time it is important to take care for the contexts.
#eurusd #forex #fxtrading #investing #traders #fxtraders #trading #fx
It was close to get nice profit from BAT on non-farm news, because we were in consolidation from bearish trend, but bulls pushed a bit to high. Now we are testing breakout. if we are going to see some violation of up trend , then it would be good place to enter short. Entry around 120.050 SL above previous structure 120.415, TP to 119.050.
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As discussed yesterday the USDCAD is in a major uptrend as long as 1.4400 holds medium term. 1.4400 has broken so we now look for shorts against the 1.4400 level and medium / short term trend. Support immediately comes in around the 1.4175 level and if this breaks we are looking for a full 50% retrace to the 1.3830 level. Bear in mind we are counter-trend trading in a major uptrend thus far here so use smaller position sizes. Go short at suggested levels looking for a target around the 1.3850 / 1.3750 level.
#usdcad #forex #fxtrading #investing #traders #fxtraders #trading #fx
Buying EUR/USD, as USD consumer confidence report is coming out and I expect a low reading. As well today’s fundamental news regarding the US came in missing expectations, nevertheless market sentiment is still EUR/USD dovish after Draghi’s comments last week. In overall EUR/USD is trading range bound today, and despite poor US data, the pair is stuck around a 40/50 pip range.
#eurusd #forex #fxtrading #investing #traders #fxtraders #trading #fx
Technical Analysis (IRE) (Kingman) and jockey Jose Ortiz win the Ballston Spa (Gr II) at Saratoga Racecourse 8/27/22. Trainer: Chad Brown. Owner: Klaravich Stables
The pair has reached today´s peak at 1.5759 reaching overbought conditions at that point, we can now see RSI hovering around 50 on M30, and MACD is pointing that further ground for the downside is probable. EMA5 has just crossed below EMA10 on the 30 minute chart. Shorting the pair as price action has just crossed the mid Bollinger band on M30.
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Trading with fibo expansion, marked my entry at one minute chart trying to hit around 100% fibo and using a short SL
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State bank of India (SBI), Country’s largest public sector enterprise, and Korea Development Bank (KDB) have signed an MOU to develop business synergies in the domains of corporate finance, project finance and asset finance. The MOU was signed between SBI chairman Arundhati Bhattacharya, and chairman and CEO of Korea Development Bank, Lee Dong Geol.
The SBI statement indicated, ‘the Asset finance comprises trade finance, capital markets, cash management products, infrastructure/real estate financing, syndicated loans, securitization, derivatives, financial advisory services, risk management and acquisition finance’.
The proposed credit lines from Korea Development Bank will help SBI to offer competitive terms for facilitating bilateral business. KDB is providing funding facility to SBI through credit lines as per terms agreed between the two banks. The funds may be utilized for money market, trade finance and loans to Korean companies generating business in the country.
Read More @ mcrworld.com/sbi-and-korea-development-bank/
EURUSD pair reached 1.1104 support (minimum), hidden MACD divergence and RSI+Stoch, both just went up from overbought zones. Once overtaken the first resistance level (23.6% fibo) then take a long position. Objective 50% fibo.
The pair today is moving upwards as seen on 1Hour chart. Price retraced to the psychological level of 120 where it coincides with the 10 period moving average on the 1 Hour chart and 20 period moving average on the 4 Hour chart. I decided to enter a long position after seeing a failure swing bottom formation on the 10 minute chart. Stop loss is below 120.
Selling EUR/USD as the pair has reached a peak at the moment at 1.0992, and the pair has reached overbought levels on M5 and M15, and only a break above a resistance at 1.1000 can confirm a move higher towards the 1.1050 level. A correction to the downside is probable in the short term near support at the 1.0950 level, and only a break below it can confirm a further move towards the 1.0900/25 area. EMA´s and MACD favor the move to the downside in the short term as shown in the graph on M15.
#eurusd #forex #fxtrading #investing #traders #fxtraders #trading #fx
the price entered into a main resistance area. Formed a double top on the 1H timeframe at this level and the structure was broken forming a lower low after the double top which can be a reversal. In order to get a better risk reward ratio we can wait for a pullback into the 618 fib and short the market.
Downward momentum is confirmed in EURJPY on a Weekly and Daily time frame. A rally up to previous resistance level and subsequent bearish engulfing candle gives signal to go short if market breaks lower than the bearish candle. Stop Loss a few pips higher than the high at the bearish candle, 134.257. TP first target 133.957, but ultimately 133.726
#eurjpy #forex #fxtrading #investing #traders #fxtraders #trading #fx
EUR AUD is pulling back to daily pivot. Entry at the figure of 1.500 which is also a 50% retracement of the previous swing high.
Reversal pattern starting to emerge.
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Technical Analysis (IRE) (Kingman) and jockey Jose Ortiz win the Ballston Spa (Gr II) at Saratoga Racecourse 8/27/22. Trainer: Chad Brown. Owner: Klaravich Stables
The fx pair begin to move upward after a two swing down move. And the market just stopped at R1 level. In here we have to see what will happen. The stronger case is that the movement will continue upward. If this happens take LONG position with the TP of R3. If R1 will hold than take SHORT position with the TP of S1.
Opening a position: in every M5 pullback end to the given directions. Every time it is important to take care for the contexts.
#eurusd #forex #fxtrading #investing #fxtraders #traders #trading #fx
A decline below 1.66238 and then a failure to break the high of 1.67212 today would suggest that the turn for the GBPUSD is in effect a day early having hit the .707 retrace of the ABCD move down ...
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The GBPU has a potential turn in time for either today or tommorrow. As of this moment there is a perfect abcd formation on the daily. There is also a .78% fib ratio of the last swing, sometimes these ratios work together to provide additional resistance. I also have ....
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This graph shows the results of my original GBPUSD potential turn 5 - 8 Feb 2010 from the 5th February 2010.
The fx pair USD/CAD is in a downtrend move. We have a strong resistance at 1.42266, the price tried to retest the R1 and bounced back , thus we go short at 1.41915.
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On Thursday, the Cabinet Committee of India has approved Rs 24000 crore investments for Railways. The funds have been approved in order to expand the track. Not only the track expansion is important but also the committee has relased fund for decongestion of rail routes. The Vice Chancellor and Managing Director of Titagarh Wagons, Umesh Chowdhary in a meeting with the media shared his view and said that the Railways might not be able to achieve its targets due to low procurement rates. The Vice Chancellor also added that phenomenal jump has been observed in the implementation of railway projects.
Read More @ mcrworld.com/railway-project-low-procurement/
GBPUSD primary trend now has upward bias supported by rising lows as seen on H4 chart. A strong break and then test of the 1.4650 level is needed to confirm this upward direction, until which the market may continue to trade within a range down to 1.4350. A break with closes below 1.4320 could lead to further weakness to the downside.
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The reason for which the coal projects are delayed is that of land acquisition problem and rehabilitation as well as resettlement issues. However, the PSU is looking forward for one billion tones of coal output by the year 2020. An Official informed the media that many of the Coal mining projects are facing delay. Only 57 coal-mining projects out of 123 are running on schedule and rest 66 projects are delayed. The cost of the project is estimated to be Rs 20 crore or more. Out of 66 projects, which are not running on time, 34 coal-mining projects are not on time because of delay in obtaining forestry clearances and other 17 projects are delayed due to delay in acquisition of land and associated R&R issues.
Read More @ mcrworld.com/coal-mining-projects-delay/
At Pivot, price consolidated and recover. Go Long at this level. SL at 158.00. TP at R2
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The fx pair is in a bigger correction in D TF. In longer distance it has much more percentage to move upward. But now it is not really clear what the market want. On H8 it is still not clear the movement. After a few candles it will be easier to decide. Let’s see one TF under (H2). This TF shows much more and a range can be viewed at list minimum. This means on smaller TF (like M15) SHORT position can be taken with the TP of S1. But in S1 careful. The market can turn if gets support.Opening a position: in every M15 pullback end to the given directions. Every time it is important to take care for the contexts.