Subscribe to RSS

Forex Technical Analysis #C-FCATTLE : 21 December 2015

Number of cattle heads is falling in Australia

Two major Australian beef producers, Teys and JBS SA, reported they are cutting the working hours of their factories and staff. For three years they have been working round the clock. Now the number of cattle heads is falling in Australia. Will the beef prices edge up?

For the recent three years 30mln cattle heads have been slaughtered in Australia and the livestock has fallen to the 20-year lows, according to the Meat and Livestock Australia Association. Farmers are not in a hurry to increase the livestock for fear of drought. For this reason Australian officials have reduced the beef export to 1.19mln tonnes in this season compared to their summer estimate of 1.225mln tonnes. The number is far above the last year’s level of 1.35mln tonnes. Australia ranks 3rd in beef production after India and the US. By the way, the Mumbai court, state Maharashtra, resolved that the prohibition of beef slaughter in course of Muslim holidays does not infringe religious rights. Previously, in some states of India a ban to consume and slaughter cattle was introduced so the cows were transported to the states with no such a ban. Now market participants are concerned that the tougher rules may hinder beef exports from India. In our opinion, these two factors have caused the prices correction from the recently hit fresh 3-year low. The price growth may continue if the monthly USDA report proves to be strong.

Fcattle

On the daily chart Fcattle: D1 is rising having rebounded from its 3-year low. The Parabolic indicator has formed the sell signal while MACD gives the buy signal. The Bollinger bands have widened a lot which may mean high volatility. RSI has formed the positive divergence. The bullish momentum may develop in case beef prices surpass the last fractal high at 154. This leve3l may serve the point of entry. The initial risk-limit may be placed below the 3-year low at 142. Having opened the pending order we shall move the stop to the next fractal low following the Parabolic and Bollinger signals. Thus, we are changing the probable profit/loss ratio to the breakeven point. The most risk-averse traders may switch to the 4-hour chart after the trade and place there a stop-loss moving it in the direction of the trade. If the price meets the stop-loss level at 142 without reaching the order at 154, we recommend cancelling the position: the market sustains internal changes which were not taken into account.

Position Buy
Buy stop above 154
Stop loss below 142

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

Weekly Demo Race Forex Trading Contest – Tickmill

Weekly Demo Race Forex Trading Contest – Tickmill(0)

Weekly Demo Race Trading Contest. Put your forex trading skills to test and win up to $200 every week! Forex Demo Race Contest is only available for clients of Tickmill Ltd.(FSA Regulated) Link:  Weekly Demo Race Trading Contest Link:  $30 Free Welcome Bonus Offer Link:  Forex Monthly Live Trading Contest Available to: All new traders

Get 30% to 250% Forex Exclusive Bonuses – Insta Forex

Get 30% to 250% Forex Exclusive Bonuses – Insta Forex(0)

Get 30% to 250% Forex Exclusive bonuses on 1st deposit of reduction on one instrument of your choice. Every InstaForex client can get the 30% to 250% Exclusive bonuses from the deposited sum. Link:  Get 250% Bonus for First Deposit Link:  100% Special Deposit Bonus Promo Link:  $500 Forex No Deposit Free Bonus Link:  $1000

Receive $7 Forex Free No Deposit Welcome Bonus – FXCL

Receive $7 Forex Free No Deposit Welcome Bonus – FXCL(0)

Receive $7 Forex Free No Deposit Welcome Bonus the best start of your Forex Trading Career. The $7 Forex Free No Deposit Welcome Bonus Simply follow us on Facebook and Receive your reward straight to the balance of your live account without making any deposits. Link: Receive $7 No Deposit Forex Bonus Available to: All

Traders Party Hanoi Special Event Promotion – FBS

Traders Party Hanoi Special Event Promotion – FBS(0)

FBS Traders Party Hanoi Special Event Promotions Traders Party for Vietnamese clients. Make a deposit of no less than $500 and trade at least One lot Hurry, the seats are limited. Link:  Traders Party Hanoi Promotions Link:  $123 Forex No Deposit Bonus Promo Link:  $77.7 Free No Deposit Lucky Bonus Link:  $88.8 No Deposit Forex

$50 Free No Deposit Required Bonus Promotion – UFX

$50 Free No Deposit Required Bonus Promotion – UFX(0)

Get $50 Free No Deposit Required Bonus Explore all the mysteries of Forex Trading with free $50. Get your FREE $50 and start trading Special Bonus Promotion Trading is simple and it’s on us. Link:  100% Real Money CashBack Promotion Link:  $50 Forex No Deposit Bonus Promotion Link:  $50 Free No Deposit Bitcoin Bonus Link: 

Up to $1000 Bonus on all Deposits – Fort Financial Services

Up to $1000 Bonus on all Deposits – Fort Financial Services(0)

Up to 50% Bonus of Every Deposit to All New and Existing Traders. You Deposited $1000 on your account, chose a 50% bonus and got 500 extra dollars to the initial deposit amount. Link: Up to 50% Bonus of Every Deposit Link: $5 Forex No Deposit Welcome Bonus Link: 15% Support Margin Bonus Link:  Profit

Free $30 Earn Trade-able Trading Credit Bonus – Forex Time

Free $30 Earn Trade-able Trading Credit Bonus – Forex Time(0)

Switch to ForexTime and Free $30 Earn Trade-able Trading Credit Bonus. Join the hundreds of thousands of traders around the world who have already chosen ForexTime as a broker and Free Earn $30 Trade-able Trading Credit Bonus as a thank you for switching. Link:  Receive $30 Tradeable Credit Bonus Link:  Loyalty Cashback Promotions Link:  FX

$100 Risk Free Money on your Live Account – FidelisCM

$100 Risk Free Money on your Live Account – FidelisCM(0)

Get $100 Free Risk Forex Money on your Live Account There is no better way to trust more. Sign up for $100  No Deposit Bonus from FidelisCM Live Account and start forex trading now. Link: $100 Free No Deposit Forex Bonus Link: 200% Margin Bonus on all Deposit Available to: New and Existing clients Ending

$14000 New Accounts Bonus on Initial Deposits – AvaTrade

$14000 New Accounts Bonus on Initial Deposits – AvaTrade(0)

Up to $14000 New Accounts Bonus on your Initial Deposits to all new trading account. Open a new live trading account and verify it Make a deposit of no less than $100 and request the New Accounts Bonus. Link:  100% Bonus to Your First Deposit Link:  30% Sign-up Bonus on your Deposit Link:  Up to

Up to 200% Withdrawable Cashback Bonus – Forex Time

Up to 200% Withdrawable Cashback Bonus – Forex Time(0)

Always aims for profitable promotions for FXTM Customer, this time they have come up with a 200% Cashback Rebate Bonus promo which enables traders to earn up to 10,000 USD withdraw able Cashback bonus. Link:  Receive $30 Tradeable Credit Bonus Link:  FX Circuits Live Trading Contest Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories