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10.12.2019

Ni225: technical analysis

On the 4-hour chart, a sideways trend is observed, the instrument moves within the channel formed by the boundaries of Bollinger bands, the price range is narrowed. The MACD histogram is in the positive zone, while maintaining a moderate signal to open long positions. Stochastic is in the neutral zone, the oscillator lines reversed upwards from the border with the oversold zone.

ZEW Economic Sentiment. EU, 12:00 (GMT+2)

At 12:00 (GMT+2), the December EU business sentiment index from ZEW will be published. The indicator reflects the difference between the shares of institutional investors and analysts who are optimistic and pessimistic. It is expected that the number of pessimists in the European economy will increase, the figure may be –17.7 points. The implementation of the forecast may put pressure on the euro.

German ZEW Economic Sentiment. Germany, 12:00 (GMT+2)

At 12:00 (GMT+2), the December index of business sentiment in Germany from ZEW will be published. The indicator reflects the difference between the shares of institutional investors and analysts who are optimistic and pessimistic. It is expected that the number of optimists in the German economy may exceed the number of pessimists for the first time in eight months. According to forecasts, the figure will be 0.3%, which may support the euro.

Industrial Production. United Kingdom, 11:30 (GMT+2)

At 11:30 (GMT+2), UK data on industrial production for October will be published. The indicator fixes the level of change in the volume of industrial production and utilities in the country. The calculation takes into account the manufacturing and mining industries, as well as the electric power industry. It is expected that for October, the volume of industrial production will increase by 0.2%, and the volume of production in the manufacturing industry will decrease by 0.1%, which, however, is less than the September reduction (by 0.4%). A forecast may support the pound.