Page 17 of 27 FirstFirst ... 71516171819 ... LastLast
Results 161 to 170 of 266
 0 Attachment(s)    

Thread: Forex Analysis by LiteForex

  1. #161

    Default

    AUD/USD

    Current trend
    On Tuesday the AUD/USD pair strengthened to its new local high being supported by results of the RBA monetary policy meeting.

    RBA’s assessment of economic prospects was quite optimistic, and interest rates were left unchanged at 1.75%. The Regulator believes that the current monetary policy would be consistent with sustainable growth in the economy. However, inflation in Australia is expected to remain quite low for some time, but some signs of improvement are seen here as well.

    The US Dollar, in its turn, is still under pressure from weak US labour market data and due to uncertainty regarding Fed’s tightening of monetary policy in the coming months.

    Support and resistance
    Bollinger Bands on the daily chart is showing a strong growth while the price range is widening actively. However, the price remains above the upper MA that indicates a downward correction possibility. MACD is growing and keeping a buy signal. Stochastic has reached its highs in the overbought zoned and turned horizontally.
    The indicators recommend waiting for clearer trading signals.

    Support levels: 0.7426, 0.7400, 0.7369 (7 June level), 0.7327, 0.7300, 0.7259, 0.7200 (near 2 June low), 0.7144 (24 May low).
    Resistance levels: 0.7463 (7 June high), 0.7500 (5 May level), 0.7533, 0.7567, 0.7593, 0.7618 (3 May level).

    Trading tips
    Long positions can be opened after the levels of 0.7463 and 0.7500 are broken out with targets at 0.7567, 0.7593, 0.7618 and stop-loss at 0.7426, 0.7400. Validity – 2-4 days.

    Short positions can be opened after the levels of 0.7426, 0.7400 are broken down with the target at 0.7200 and stop-loss at 0.7463. Validity – 2-3 days.

  2. #162

    Default

    EUR/USD: review and forecast

    Current trend
    Today the pair significantly fell after ECB President Draghi speech, in which he pointed out to long-term risks for the economy of the eurozone from a prolonged low pace of its growth. He also asserted that the regulator would do everything that is necessary in order to return inflation to its target levels.

    In addition, the pair is pressured by approaching referendum in the UK. The country’s exit from the EU could lead to a crisis in the eurozone.
    Today attention needs to be paid to data on the US labour market. Weak data might pressure the US Dollar.

    Support and resistance
    Technical indicators suggest a fall continuation. On the 4-hour chart, Bollinger bands turned horizontally. Stochastic is moving down.
    Support levels: 1.1340, 1.1280, 1.1225.
    Resistance levels: 1.1375, 1.1415, 1.1480.

    Trading tips
    Short positions can be opened after the price rebound from the level of 1.1375 with targets at 1.1280, 1.1225 and stop-loss at 1.1400, and after the price consolidation below the level of 1.1330 with targets at 1.1280, 1.1225 and stop-loss at 1.1360.
    Long positions can be opened after the breakout of the level of 1.1415 with targets at 1.1480, 1.1530 and stop-loss at 1.1400.

  3. #163

    Default

    AUD/USD: Australian Dollar remains under pressure

    Current trend
    In the end of last week, the pair substantially declined amid some strengthening in the US Dollar, which was supported by strong data on the US labour market. The number of Initial Jobless Claims fell to 264 thousands, while economists predicted their growth to 270 thousands.

    At the same time, today the Australian Dollar was supported by strong data on the Industrial Production in China. In May, the index grew by 6.0% that was 0.1% better than expectations of experts.

    Support and resistance
    Bollinger Bands on the daily chart is moving up while the price range is narrowing. MACD is turning down and forming a sell signal. Stochastic is falling having left the overbought zone.

    The indicators recommend waiting for clearer trading signals.
    Support levels: 0.7538 (local low), 0.7327, 0.7300, 0.7259, 0.7200 (2 June low), 0.7144 (24 May low), 0.7100 (psychologically important level).
    Resistance levels: 0.7400 (local high), 0.7426, 0.7463, 0.7500 (9 June high), 0.7533, 0.7567 (3 May high).

    Trading tips
    Long positions can be opened after the price rebound from the level of 0.7358 (with the appropriate indicators signals) with targets at 0.7463, 0.7500 and stop-loss at 0.7327. Validity – 2-3 days.

    Short positions can be opened after the breakdown of the level of 0.7327 with the target at 0.7200 and stop-loss at 0.7375. Validity – 2-3 days.

  4. #164

    Default

    GBP/USD: review and forecast

    Current trend
    On Monday the GBP/USD pair after a short upward correction resumed its downward trend. During the past week, the pair was falling but probably has not reached its lows yet and might continue moving further down. Today attention needs to be paid to statistics on key indices which have been released in the UK and data on retail sales due in the US.

    Support and resistance
    Bollinger Bands on the 4-hour chart is directed down. The price remains between the middle and the lower MAs. Further decline in the pair seems a likelier scenario.
    Support levels: 1.4140, 1.4070.
    Resistance levels: 1.4190, 1.4240, 1.4280, 1.4330, 1.4580.

    Trading tips
    Short positions can be opened below the current level with the target at 1.4070 and stop-loss at 1.4190.
    Long positions can be opened above the level of 1.4280 with the target at 1.4330 and stop-loss at 1.4190.

  5. #165

    Default

    EUR/USD: general review


    Current trend

    Today the pair is growing amid some weakening in the US Dollar that remains under pressure prior to the Fed Interest Rate Decision. According to forecasts, the rate will remain unchanged at 0.5% due to the publication of very weak data on the US labour market. Just to remind, the Nonfarm Payrolls came out at 38 thousands that was significantly worse than the forecasts.

    At the same time, the Unemployment Rate fell to 4.7%, which signals that in the medium-term inflation is likely to accelerate and that would lead to tightening in monetary policy.

    Support and resistance
    On the hourly chart, the pair is trading in a narrow sideways channel between the levels of 1.1237 and 1.1189.
    The RSI does not give a clear trading signal.
    The nearest support levels is at 1.1189.
    The nearest resistance level is at 1.1237.

    Trading tips
    Long positions can be opened from the level of 1.1240 with the target at 1.1303 and stop-loss at 1.1189.

  6. #166

    Default

    USD/CAD: general analysis

    Current trend
    The pair continues growing despite results of the Federal Reserve monetary policy meeting. The Regulator decided to keep its current monetary policy unchanged and noted in the Monetary Policy Statement that only one more rate increase should be expected this year. The Canadian Dollar came under pressure, as Governor of the Bank of Canada Stephen Poloz expressed concerns regarding the pace of economic growth in the country.
    It should be noted that oil prices have a strong impact on dynamics in the pair, and if a downward correction in the oil market continues, the pair might get support.

    Support and resistance
    On the daily chart, the price broke out the middle MA of Bollinger Bands. The price range is widening that suggests the current trend is likely to continue. MACD is hovering around the zero line. Stochastic is in the overbought zone.
    The indicators recommend long positions.
    Support levels: 1.3002, 1.2978, 1.2951, 1.2909, 1.2871, 1.2834, 1.2786, 1.2730, 1.2692, 1.2663.
    Resistance levels: 1.3093, 1.3122, 1.3168, 1.3186, 1.3237.

    Trading tips
    Long positions can be opened from the current level with the target at 1.3093 and stop-loss at 1.2951. Validity – 1-3 days.
    Short positions can be opened from the level of 1.3122 with the target at 1.3002 and stop-loss at 1.3168. Validity – 1-2 days.

  7. #167

    Default

    USD/JPY: pair is falling

    Current trend
    The pair continues falling amid increasing anxiety on the market due to an upcoming referendum on UK’s membership in the EU, which is forcing investors to switch into safe-haven assets, such as the Yen. In addition, the Yen was supported by the decision by the Bank of Japan not to expand its stimulus program despite low inflation and weak growth of the world economy.

    The pair was also pressured by poor data from the US, where the Consumer Price Index in May grew by only 0.2% that was worse than expectations, while Initial Jobless Claims increased from 264 to 277 thousands, against forecasted 270 thousands.

    Support and resistance
    Bollinger Bands on the daily chart is moving down while the price range is narrowing. MACD is falling and giving a sell signal. Stochastic is trying to turn up near the border of the oversold zone.
    The indicators recommend waiting for clearer trading signals.
    Support levels: 104.34 (local low), 104.00, 103.74, 103.54 (local low).
    Resistance levels: 104.82 (local high), 105.19, 105.54, 106.00, 106.39 (15 June high), 106.71, 107.25 (10 June high), 107.89 (7 June high), 108.22.

    Trading tips
    Long positions can be opened after the breakout of the level of 104.82 (with the appropriate indicators signals) with targets at 106.00, 106.39, 106.71 and stop-loss at 104.34. Validity – 2-3 days.
    Short positions can be opened after the breakdown of the level of 104.00 with the target at 103.00 and stop-loss at 104.50. Validity – 2-3 days.

  8. #168

    Default

    EUR/USD: pair continues growing

    Current trend
    At the end of the previous week, the Euro was gaining positions against the US Dollar, and today the pair opened with a substantial gap up.

    Current dynamics is caused by weakness in the US Dollar coupled with growing demand for risky assets. In the UK, all Brexit referendum campaigns were suspended due to the murder of the Labour MP Jo Cox. As a result, new polling data showed a certain decline in chances of the UK’s exit from the EU.

    On Friday the American currency came under pressure from macroeconomic statistics. In particular, the number of housing starts fell from 1.167 to 1.164 million in May that was, however, better than the forecast of 1.150 million. The number of building permits grew from 1.130 to 1.138 million in May against an expected rise to 1.150 million.

    Support and resistance
    Bollinger Bands on the daily chart is showing a moderate growth while the price range is still narrowing quite actively. MACD has turned up and started growing with a buy signal. Stochastic has reached the border of the overbought zone that suggests a downward correction might develop in the short term.
    According to the indicators, long positions are preferable.

    Support levels: 1.1348, 1.1300, 1.1255, 1.1231, 1.1200, 1.1179, 1.1128 (16 June low), 1.1100 (near 30 May low), 1.1057, 1.1000 (10 March level), 1.0966.
    Resistance levels: 1.1400 (near 9 June highs), 1.1449, 1.1500 (4 May level), 1.1541, 1.1577, 1.1615 (3 may high).

    Trading tips
    Long positions can be opened after the level of 1.1400 is broken out (with appropriate indicators signals) with targets at 1.1500, 1.1541, 1.1577 and stop-loss at 1.1340. Validity – 1-2 days.
    Short positions can be opened after the price turns down near the level of 1.1400 with the target at 1.1200 and stop-loss at 1.1450. Validity – 2-3 days.

  9. #169

    Default

    USD/JPY: продолжение снижения цены

    Current trend

    Demand for the Yen remains high amid difficulties and risks the global economy is facing. The American Dollar does not manage to show a strong growth being under pressure from mixed macroeconomic data, released in the US. As a result, the USD/JPY pair reached the key support level of 103.50.
    Today market participants are following Fed Chair Janet Yellen’s Congressional Testimony, and later this week, attention needs to be paid to US labour market statistics and data on the Durable Goods Orders.

    Support and resistance
    Despite of an upward correction today, the price is likely to remain within a descending channel and head towards the key support at 101.00, which is the lowest level since 2013. It also should be noted that the price might start moving sideways within the range of 101.00-107.50.

    According to technical indicators, the pair tends to continue its downward movement. MACD histogram is in the negative zone, and its volumes are growing. Bollinger Bands is directed up. The price remains above Tenkan-sen and Kijun-sen lines of Ichimoku clouds.

    Support levels: 104.15, 103.50, 102.65, 102.05, 101.00, 100.30, 100.00, 99.70.
    Resistance levels: 105.05, 105.90, 107.00, 107.50, 108.75, 109.30.

    Trading tips
    It is recommended to build up on your short position from the levels of 105.05, 107.00 with the target at 101.00 and stop-loss at 107.90.

  10. #170

    Default

    USD/CAD: flat trades in the pair

    Current trend
    The USD has significantly grown against the CAD at the closing session on Tuesday, after two-day decline, which led the price back to the local lows of June. Minor correction was caused by the domination of cautious sentiments in the market. Prior to the referendum on the UK’s membership in the EU, investors do not rush to open new positions, even despite some encouraging signals.
    On Tuesday, the head of the US Fed, Mrs. Janet Yellen gave a speech before the Banking Committee in the Senate. As before, she has mentioned that the world economy is facing significant risks; China is facing economic difficulties and interest rate will depend on the economic situation. As long as economic situation remains ambiguous, the prospects of the interest rate increase in the USA in July are vague.

    Levels of support and resistance

    Resistance levels: 1.2800, 1.2829 (local highs of 20 June), 1.2861, 1.2900, 1.2962, 1.3000 (psychologically important level), 1.3037, 1.3100, 1.3143 (highs of 2 June), 1.3187 (highs of 24 May) and 1.3218.
    Support levels: 1.2762 (local lows of 21 June), 1.2700, 1.2654 (lows of 8 June), 1.2600 (lows of 3 May).
    On the daily chart the indicator “Bollinger bands” is declining. Price range is narrowing, indicating mixed movement in the market in the past few days. MACD indicator is declining, giving a weak sell signal. If the “bearish” trend continues, it is recommended to keep existing short positions. Stochastic Oscillator is going down too. However, the line of the indicator has almost reached the lowest in the oversold zone, which reduces chances of continuation of the downtrend in the short-term. It is advisable to wait until the indicator leaves oversold zone.

    Индикатор “Полосы Боллинджера” на дневном графике демонстрирует снижение. Ценовой диапазон сужается, отражая разнонаправленный характер торгов, наблюдаемых в последние несколько дней. *Индикатор MACD снижается, сохраняя слабый сигнал на продажу. При сохранении текущего «медвежьего» сигнала рекомендуется удерживать имеющиеся короткие позиции. Осциллятор “Стохастик” сохраняет нисходящую направленность. Вместе с тем, линия индикатора уже практически достигла минимальных значений в области перепродаж, что существенно ограничивает перспективы развития нисходящего тренда в краткосрочной и перспективе. Следует дождаться выхода индикатора из области перепродаж.

    Trading tips

    Long positions can be opened if the price goes up above the level of 1.2800 and rebounds from this level as a support level. Take profit can be placed at the levels of 1.2900 1.2962 or 1.3000. Stop-loss - 1.2762. Forecast is valid for 2-3 days.
    As an alternative scenario the “bearish” trend can resume after breakdown of the level of 1.2762. In this case, it is advisable to open short positions with the target of 1.2600 and stop-loss of 1.2800. Forecast is valid for 2-3 days.

Similar Threads

  1. LiteForex
    By fx1618.com in forum Brokers
    Replies: 437
    Last Post: 11-09-2016, 09:10
  2. FOREX Analysis
    By mostafa in forum Technical analysis
    Replies: 37
    Last Post: 03-26-2016, 07:14
  3. Forex analysis
    By Lucien in forum Trading discussion
    Replies: 3
    Last Post: 12-29-2014, 14:03
  4. Weekly Forex Market Analysis By FxErvin (( Gann Analysis ))
    By Fxervin.com in forum Technical analysis
    Replies: 89
    Last Post: 07-20-2012, 20:36

Tags for this Thread

analysis, forex, forex analysis, forex market, liteforex

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •