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Thread: Forex Analysis by LiteForex

  1. #201

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    XAU/USD: general analysis

    Current trend

    Demand for gold continues growing and has reached 2,335 tons in the first half of 2016. In April-June period, total demand increased by 15 percent compared to the 2015 second quarter. Investors are shifting their assets to gold to reduce the risk amid the lack of stability in global markets.
    It should also be noted that central banks’ bond-buying programmes and strong demand for bonds among investors accelerate a fall in global bond yields. The current situation in stock markets raises concern as well, and some experts believe that stocks might soon head to a fall.

    Support and resistance


    RSI is near the oversold zone, suggesting the possibility of a growth in the pair.
    The nearest support level is at 1330.29.
    The nearest resistance level is at 1342.43.

    Trading tips

    Long positions can be opened from the level of 1334.45 with the target at 1352.00 and stop-loss at 1329.00.

  2. #202

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    USD/CAD: general analysis

    Current trend
    Last week, the USD/CAD pair was under pressure amid a growth in oil prices. The Canadian Dollar gained strong support when Saudi Energy Minister said the country would discuss measures aimed at stabilizing prices with other oil producers during a meeting in late September.
    At the same time, Saudi Arabia boosted its oil output in July to a record 10.67 million barrels a day and lowered the pricing terms for Asian clients that is seen as a negative factor for the Canadian Dollar.

    Support and resistance
    Bollinger Bands on the 4-hour chart is moving down. MACD histogram remains in the negative zone, its volumes are falling and keeping. Stochastic is heading towards the border of the overbought zone.
    Short positions seem preferable, but it is recommended to wait for clearer trading signals before placing your orders.
    Support levels: 1.2948, 1.2935, 1.2922, 1.2912, 1.2901.
    Resistance levels: 1.2974, 1.2988, 1.3199, 1.3002, 1.3016, 1.3061.

    Trading tips
    Short positions can be opened from the current levels with targets at 1.2925, 1.2915 and stop-loss at 1.2980. Validity – 1-3 days.
    Long positions can be opened after the breakout of the level of 1.2980 with the target at 1.3010 and stop-loss at 1.2960. Validity – 2-4 days.

  3. #203

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    NZD/USD: growth continues

    Current trend
    The pair continues growing amid significant weakening in the US Dollar. The American currency was pressured by poor data on Retail Sales and the GDP for the second quarter of the year. In addition, today’s data on the Consumer Price Index showed a zero inflation growth in July, which increased pressure on the Dollar due to falling probability of monetary policy tightening by the Fed until the end of the year.
    Tomorrow attention needs to be paid to data on the labour market and Producer Price Indices in New Zealand, and to the FOMC Minutes in the US.

    Support and resistance
    In the medium-term, the pair is expected to continue growing towards the key resistance level at 0.7330, a breakout of which would open the way towards the levels of 0.7600, 0.7625.
    Technical indicators suggest a growth continuation. MACD histogram is in the positive zone and its volumes are growing. Bollinger bands are directed up.
    Support levels: 0.7230, 0.7175, 0.7150, 0.7020, 0.7000, 0.6955, 0.6900, 0.6750.
    Resistance levels: 0.7300, 0.7330, 0.7415, 0.7450, 0.7500, 0.7565, 0.7600, 0.7625.

    Trading tips
    Long positions can be opened from current levels and from the levels of 0.7230, 0.7175 with the target at 0.7600 and stop-loss at 0.7135.

  4. #204

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    EUR/USD: general review

    Current trend
    Today the pair is consolidating after a significant growth yesterday amid the publication of weak data in the US.
    The Consumer Price Index in July grew by only 0.8%, which was worse than forecasts and increased doubts on the market regarding the possibility of monetary policy tightening by the Fed this year. In addition, the ZEW Survey – Economic Sentiment in the eurozone increased from -14.7 to 4.6 points, substantially exceeding forecasts, while the trade balance surplus rose from 24.6 billion to 29.9 billion Euro.

    Support and resistance
    On the hourly chart, the pair has formed a “triangle” patter, with the upper border at the level of 1.1283 and the lower at 1.1254.
    RSI is trying to turn down in approximately the middle of its range.
    The nearest support level is at 1.1254.
    The nearest resistance level is at 1.1283.

    Trading tips
    Short positions can be opened from the level of 1.1254 with the target at 1.1200 and stop-loss at 1.1283.

  5. #205

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    EUR/JPY: general analysis

    Current trend
    In the Asian trading session, the Yen grew moderately against the Euro amid strong data on Japan’s trade balance. The country recorded a 513.5 billion surplus in July that is substantially above consensus of a 283.7 billion surplus.
    Today the eurozone’s Consumer Price Index came out below market forecasts. The data showed that the index fell 0.6% in July after a 0.2% growth in June. This afternoon, dynamics in the pair can also be influenced by the publication of the ECB Monetary Policy Meeting Accounts, due at 1:30 pm (GMT+2).

    Support and resistance
    Bollinger Bands on the 4-hour chart is directed horizontally while the price range is widening. MACD remains at the zero line. Stochastic turned up near the border of the oversold zone.
    The indicators recommend waiting for clearer trading signals.
    Support levels: 112.99, 112.87, 112.74, 112.58.
    Resistance levels: 113.27, 113.44, 113.62, 113.92, 114.01.

    Trading tips
    Long positions can be opened from the level of 113.25 with targets at 113.62, 113.90 and stop-loss at 112.95. Validity – 1 day.
    Short positions can be opened from the level of 112.90 with the target at 112.40 and stop-loss at 113.20. Validity – 1 day.

  6. #206

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    EUR/USD: general review

    Current trend
    Yesterday the pair continued growing amid weakening in the US Dollar. The American currency is pressured by a low probability of an interest rate increase by the Fed this year as the latest FOMC Minutes showed a unanimous opinion of key committee members to leave the rate unchanged.
    Today no important macroeconomic data that could affect dynamics in the pair is expected to be published.

    Support and resistance
    On the 4-hour chart, the pair is trading in the upper Bollinger band, while bands are directed up and the price range is narrowing. MACD histogram is in the positive zone and its volumes are growing. Stochastic is falling and approaching the border of the oversold zone.
    The indicators recommend long positions.
    Support levels: 1.1310, 1.1303, 1.1296, 1.1289, 1.1279, 1.1266, 1.1251.
    Resistance levels: 1.1328, 1.1339, 1.1348, 1.1355, 1.1364, 1.1370.

    Trading tips
    Long positions can be opened from current prices with the target at 1.1350 and stop-loss at 1.1310. Validity – 1 day.
    Short positions can be opened from the level of 1.1295 with the target at 1.1240 and stop-loss at 1.1315. Validity – 1-3 days.

  7. #207

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    XAU/USD: general analysis

    Current trend
    In the long term, the price of gold tends to grow due to several causes. Amid a fall in bond yields, the largest pension funds are seeking for alternative assets to invest in.
    It should also be noted that a growth in US stock markets towards new highs raises concerns among investors and results in their decision to diversify risks.
    The price of gold gains support from the Fed wait-and-see attitude regarding interest rate hikes. At the same time, political risk should not be underestimated as well. US presidential election is due in November, and now there is still a lot of uncertainty surrounding that.

    Support and resistance
    The nearest support level is at 1097.66.
    The nearest resistance level is at 1112.97.

    Trading tips
    Long positions can be opened from the level of 1340.00 with the target at 1350.00 and stop-loss at 1333.00.

  8. #208

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    NZD/USD: general review

    Current trend
    The pair continues growing amid weakening in the US Dollar, which remains under pressure due to a fallen probability of monetary policy tightening by the American regulator in the nearest future. In addition, the pair was supported by today’s Reserve Bank of New Zealand President Graeme Wheeler speech in which he noted the effectiveness of pursued monetary policy and suggested it would be reasonable to tighten it in the near term.
    This week, extra attention needs to be paid to data on the US GDP that is due on Friday. An expected fall in the index from 1.2% to 1.1% might substantially support the pair.

    Support and resistance
    On the daily chart, the pair is testing a strong resistance level at 0.7325.
    Bollinger Bands is directed up. MACD histogram is in the positive zone and its volumes are growing. Stochastic turned up near the border of the overbought zone.
    The indicators recommend long positions.
    Support levels: 0.7278, 0.7240, 0.7201, 0.7179, 0.7143, 0.7110, 0.7064.
    Resistance levels: 0.7325, 0.7339, 0.7367, 0.7401.

    Trading tips
    Long positions can be opened from current prices with targets at 0.7370, 0.7400 and stop-loss at 0.7240. Validity – 2-4 days.
    Short positions can be opened from the level of 0.7200 with the target at 0.7140 and stop-loss at 0.7220. Validity – 2-4 days.

  9. #209

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    USD/JPY: general analysis

    Current trend

    Last Friday the USD/JPY pair showed a strong growth.
    During the week, favorable statistics on the New Home Sales and Durable Goods Orders were released in the US, and the Gross Domestic Product Annualized came out in line with forecasts. On Friday Fed Chair Janet Yellen in her speech at the symposium in Jackson Hole supported further cautious tightening in US monetary policy. Japan, in its turn, posted relatively weak data on the Consumer Price Index.

    Support and resistance

    The pair broke out the upper line of Bollinger Bands. MACD histogram remains in the positive zone, its volumes are growing. Stochastic has entered the overbought zone and is moving sideways.
    Support levels: 101.90, 101.60, 101.30, 101.00, 100.70, 100.30, 100.00.
    Resistance levels: 102.25, 102.80.

    Trading tips
    Short positions can be opened from the level of 102.15 with targets at 101.60, 101.30 and stop-loss at 102.35.
    Long positions can be opened from the level of 102.40 with the target at 102.80 and stop-loss at 102.25.
    Validity – 1-3 days.

  10. #210

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    EUR/USD: general review

    Current trend

    The EUR/USD pair is trading within a downward trend. The instrument is being pressured by strengthening in the US Dollar amid expectations that the Fed will raise interest rates in September if macroeconomic indicators come out in line with Fed’s forecasts. This week is full of important macroeconomic releases that can have a strong impact on dynamics in the EUR/USD pair. This week’s key publication is data on the US labor market. Statistics on the Nonfarm Payrolls and Unemployment Rate are due on Friday. Favorable data will boost chances of an interest rate increase and allow the US Dollar to strengthen more against the Euro. Thus, short-term dynamics in the EUR/USD pair will be influenced by US macroeconomic statistics.

    Support and resistance

    MACD histogram on the 4-hour chart remains in the negative zone and its volumes are growing. The indicator is forming a sell signal. Bollinger bands are directed down, suggesting a downward trend continuation.
    Support levels: 1.1160, 1.1110, 1.1048.
    Resistance levels: 1.1205, 1.1267, 1.1310.

    Trading tips

    Short positions can be opened after the price consolidation below the level of 1.1160 with targets at 1.1110, 1.1048.
    Long positions can be opened after the price consolidation above the level of 1.1205 with the target at 1.1267.

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