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  1. #31

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    Daily Forex market review 3 August 2016



    EUR/USD (Euro/dollar pair)
    - Today the United States will publish the reports on employment from ADP and business activity in the field of services from ISM. Taking into account the fast economic growth, both indicators may be better than the consensus forecast, which is positive for US dollar.
    - ADX indicator on the daily and 4-hours charts shapes the uptrend; whereas on the hourly chart it shows the downtrend.
    - RSI indicator on the 4-hours chart is in the overboughtness area and has formed a divergence there, which means the downtrend.
    - Recommendation: trade inside the flat 1.1150 -1.1210 (one dot eleven fifty - one twelve ten) .
    The next pair - GBP/USD (Pound/dollar)
    - In the afternoon, we will probably see the negative release on crude oil reserves from the US Department of Energy. It will put the oil under pressure and in this regard, we can see the demand in the US currency, as the cost of commodity is denominated in US dollars.
    - ADX indicator on the daily and 4-hours charts shows the flat; whereas on the hourly chart it shows the downtrend.
    - RSI indicator on the daily, 4-hours and hourly charts shows the flat
    - Recommendation: Open Sell trades at 1,3365 (one thirty three sixty five) and take profit at 1,3265 (one thirty two sixty five).
    And finally, USD/JPY (Dollar/Japanese Yen)

    - An outflow of capital from risky assets supported the Japanese yen as a funding currency. The day before, on US stock market, the index of "fear" VIX S&P500 grew by 7.4% (seven dot four per cent), which means the downtrend.
    - ADX Indicator on the monthly and weekly charts shows the downtrend; on the daily, 4-hours and hourly charts it shows the flat
    - RSI indicator on the daily and hourly charts shows the flat.
    - Recommendation: Open Sell trades at 101.30 (one hundred and one dot thirty) and take profit at 100.60 (one hundred sharply dot sixty)
    More information

  2. #32

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    Daily Forex market review 5 August 2016



    EUR/USD (Euro/dollar pair)
    - If we see a total NPF figure above the 200 (two hundred thousand), that will be enough to strengthen the US currency. This result is very probable, because in July the number of applications for unemployment benefits fell to its lowest level since 1973 (nineteen seventy three), which means the downtrend.
    - ADX indicator on the daily and the hourly charts shows the uptrend; whereas on the 4-hours chart it shows the downtrend.
    - RSI on the daily, 4-hours and hourly charts shows the flat.
    - Recommendation: trade inside the flat 1,1080-1,1180 (one ten eighty one eleven eighty).
    The next pair - GBP/USD (Pound/dollar)
    - The Bank of England has cut the key rate by 0.25% (zero dot twenty five per cent) and enhanced its QE program. It intends to lower the rate again later this year. GDP forecasts for 2016 - 2018 years were revised in the negative direction, which means the downtrend.
    - ADX indicator on the daily and 4-hours charts shows the flat; on the hourly chart it shows the downtrend.
    - RSI on the daily, 4-hours and hourly charts shows the flat.
    - There is a strong bearish candle formed on August 4, which means the downtrend.
    - Recommendation: Open Sell trades at 1,3145 (one thirty one forty five) and take profit at 1,3065 (one thirty one sixty five).
    And finally, USD/JPY (Dollar/Japanese Yen)
    - Global stock markets are growing, which should lift the pair, but traders ignored positive background. It indicates presence of a large number of sellers in the market, which means the downtrend.
    - ADX indicator on the daily and 4-hours charts shows the flat; whereas on the hourly chart it shows the downtrend.
    - RSI on the daily, 4-hours and hourly charts shows the flat
    - Recommendation: trade inside the flat 100,60-101,60 (one hundred dot sixty - one hundred and one sixty)
    More information

  3. #33

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  4. #34

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    Daily Forex market review 2 August 2016



    EUR/USD (Euro/dollar pair)
    - Yield of the 10-years' German bonds (paragon bonds for the euro zone) has dropped against US and UK bonds, which usually is a negative factor for euro, whether it is paired with dollar and pound . So, it is the downtrend.
    - ADX indicator on the daily chart shows the uptrend; whereas on the 4-hours and hourly charts it is the downward trend.
    - RSI indicator on the hourly chart is heavily oversold, so this is a signal of an upward correction.
    - Recommendation: Open Sell trades at 1,1308 (one thirteen zero eight) and take profit at 1,1280 (one twelve eighty).
    The next pair - GBP / USD (Pound/dollar)
    - Yield of the 10-years' UK bonds is growing against US and German bonds. It makes investments in British assets more attractive. So, it is the uptrend.
    - ADX indicator on the daily and the hourly charts shows the flat; whereas on the 4-hours chart, the trend is downward.
    - RSI indicator shows the flat on the daily, 4-hours and hourly charts.
    - Recommendation: trade inside the flat 1.3015 -1.3095 (one thirty fifteen - one thirty ninety five)
    And finally, USD/JPY (Dollar/Japanese Yen)
    - An outflow of capital from risky assets indicates a downtrend, because the capital will go to the yen as a funding currency Number One in the carry trade operations. So, it is the uptrend.
    - ADX indicator on the daily and hourly charts shows the flat; whereas on the 4-hours chart, the trend is downward.
    - RSI indicator on the daily and hourly charts shows the flat; on the 4-hours chart, the trend is down.
    - Recommendation: trade inside the flat 100,20-101,20 (one hundred sharply dot twenty - one hundred and one dot twenty).
    More information

  5. #35

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  6. #36

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  7. #37

  8. #38

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    Crude oil supported at 48.51

    Gold weekly review

    Crude oil supported at 48.51

    Weekly Review:

    The yellow metal continues to consolidate within the contracting triangular formation. As long as the metal trades within this wedge, we expect a possible bullish price movements towards $1307 or even higher. A clear breakout below the lower trend line forming bottom of the wedge could culminate into a possible bearish price movements $1244 or even lower. This commodity should be traded alongside gold, only remain long in gold if silver is giving the same signal, any serious discrepancy between their price action could mean we're standing aside.

    Trade Recommendation:
    As long as the commodity trades within the rising wedge, remain long. Any clear breakout below the wedge will mean looking for short positions with an ideal target at $1244.
    Check the website for more information: https://freshforex.com/analitics/fre...week_1878.html

  9. #39

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    Euro in a corrective mode

    28 November 2016, EUR/USD

    Euro in a corrective mode
    Wave Analysis:
    Earlier today, Euro gapped above a key resistance level 1.06087, headed long but is currently retreating towards it. We expect the level 1.06513 to have marked the end of the impulsive wave (3) that the current downward rally is the unfolding of the corrective wave (4) and must not go beyond the end of wave (1) from where we'll be looking to buy the next motive wave (5) towards 1.0724. In the meantime, we choose to remain short with the corrective wave (4) towards 1.10687 Expect a similar wave count in NZD/USD, AUD/USD and GBP/USD. These pairs have a strong positive correlation of up to +0.96% and will have a similar price action during intaday.
    Trade recommendations:

    Expect a possible bearish price rally towards 1.06087
    Check the website for more information: https://freshforex.com/analitics/fre...sue_84083.html

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