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

Forex Trade and Free Win 2 Flight Tickets – Trade12

Forex Trade and Free Win 2 Flight Tickets – Trade12(0)

Forex Trade and Free Win 2 Flight Tickets To The Men’s Final Australian Open January 29, 2017. Register now and get your FREE ATP World Tour | Tennis Tickets Link:  Free Daily Forex Trading Signals Link:  Get 100% Welcome Deposit Bonus Link:  Forex Trade and Win 2 Tickets Available to: All new clients Ending Date:

Forex Demo Trading Competition 2017 – AHMZ TradeFX

Forex Demo Trading Competition 2017 – AHMZ TradeFX(0)

Forex Demo Trading Competition 2017 Total Competition prize is more than 10,000 USD. Once you log in to your Demo account, you can start competing for one of the 300 prizes. Link:  Forex Demo Trading Competition 2017 Available to: All Customers Ending Date: 31 December 2017 Contest offer: Total Competition prize is more than 10,000

$300 Free Win Trading Credit on Monday – easyMarkets

$300 Free Win Trading Credit on Monday – easyMarkets(0)

Enter now and you may win $300 easyMarkets free trading credit bonus on Monday. Answer the weekend quiz and fill the form with your correct and accurate contact details. Link:  50% Deposit Bonus Up to $2000 Link:  $300 Free win Trading Credit Bonus Link:  Up to $2500 Earn just for Sharing Available to: All new

$50 Free Binary Bonus No questions asked – Tradeplus

$50 Free Binary Bonus No questions asked – Tradeplus(0)

Get $50 Free Open a free Binary live trading account, deposit and get $50 FREE Bonus – no questions asked! Make your first deposit and you’ll get an extra $50 – no strings attached Link:  $50 Free Bonus No questions asked Available to: All new Customers Ending Date: 31 December 2017 Bonus offer: Get $50

Get 20% Bonus Make $100 Deposit or More – FirewoodFX

Get 20% Bonus Make $100 Deposit or More – FirewoodFX(0)

20% Forex Bonus Make $100 Deposit or More. Bonus can be used as additional margin and equity If you deposit $500, you can hold a losing position up to $600 Link: 20% Bonus Make $100 Deposit or More Available to: All new and existing Bonus Ending Date: 31 December 2017 Bonus offer: 20% Bonus Make

150% Bonus for a First Time to Binary Trading – NordFX

150% Bonus for a First Time to Binary Trading – NordFX(0)

Up to 150% Bonus for a First Time to binary options Account. For a perfect start, we offer you a 150% bonus for a first-time $5,000 deposit. Link:  Up to 150% Bonus for a First Time Link:  100% Withdrawable Deposit Bonus Link:  55% Deposit Bonus Promotion Available to: All new traders Ending Date: 31 December

100% Welcome Bonus Plus Daily Free Signals – Trade12

100% Welcome Bonus Plus Daily Free Signals – Trade12(0)

Get 100% Welcome Deposit Bonus and 7-day risk free trade, Boost your trading with a free 100% Welcome Deposit Bonus to your Live Trading Account. Link:   Get 100% Welcome Bonus Link:  50% Exclusive Deposit Bonus Link:  Free Daily Forex Trading Signals Available to: All new clients Ending Date: 31 December 2017 Bonus Offer: Get

25 Euro Forex No Deposit Welcome Bonus – direktbroker-FX

25 Euro Forex No Deposit Welcome Bonus – direktbroker-FX(0)

25 Euro Forex No Deposit Welcome Bonus to all EU and the UK  live Trading Account Holder. Open a real account direct instead of an demo account first and you will get a 25,- Euro Free. Link:  25 Euro Free Welcome Bonus Available to: All new account Ending Date: 31 December 2017 Bonus offer: 25

Up to $250 Cash in Your Expert Advisor – ThinkMarkets

Up to $250 Cash in Your Expert Advisor – ThinkMarkets(0)

Up to $250 Cash in Your Expert Advisor. Make the Move to Think Trader and Cash in Your Expert Advisor for Up to $250* Link:  Up to $250 in Your Expert Advisor Available to: All new account Ending Date: 31 December 2017 Bonus offer: Up to $250 Cash in Your Expert Advisor Bonus to all new

$30 Forex No Deposit Bonus Welcome Promo – XM

$30 Forex No Deposit Bonus Welcome Promo – XM(0)

$30 Forex  No Deposit Bonus Welcome Promo Bonus and 15% Welcome Deposit Bonus, Welcome Bonus brings Real Account clients the best rewards available. Entering the markets and trading with XM enables you to earn from your trades and build your own bonus up to a maximum of $1,000. Link:  $30 Forex No Deposit Bonus Link: 

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