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Thread: Forex Analysis by LiteForx

  1. #11
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    GBP/USD: general analysis
    Current trend
    Yesterday, the British Pound declined against the US Dollar. The pair was under pressure amid the publication of favorable statistics on Redbook index which grew by 1.5% from the previous 1.9%. Consumer Price Index was up by 0.5% that is 0.1% above the forecast.
    Today, attention needs to be paid to Unemployment Rate and Average Earnings data, released in the UK. Unemployment Rate is expected to remain unchanged at 5.3%.
    However, the most important news is due in the US – the Fed announces its interest rate decision. Amid this publication, the market will be highly volatile. However, until the Fed decision is released, the pair is likely to continue moving down.
    Support and resistance
    The nearest support level is 1.4965 (8 December support level).
    The resistance level is 1.5082 (MA24, 4 December low and 7 December high).
    Trading tips
    Short positions can be opened from the level of 1.5046 with the target at 1.4965 and stop-loss at 1.5082.


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  3. #12
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    AUD/USD: in contracting triangle


    Current trend
    Yesterday, the Federal Reserve raised US interest rates. This decision confirms the Fed is confident that US economic recovery is sustainable and suggests the Regulator has a favorable outlook for the global economy.
    RBA, in its turn, is likely to keep loose monetary policy due to weak inflation. Moreover, the Australian Dollar is under pressure from a continuous fall in commodity prices, in iron ore price in particular, as Australia remains the largest exporter of this raw material. Therefore, the AUD/USD pair tends to continue declining.

    Support and resistance
    On the daily chart, a contracting triangle has formed with the lower border near the level of 0.7190 and the upper border at 0.7335 (EMA144). The price is likely to breakdown the lower border of the triangle and continue declining to 0.7100, 0.7030, 0.6980 and 0.6910 (year lows).
    In case of a correctional growth, the price might reach the level of 0.7335 (EMA144 on the daily chart). An upward trend would resume only after the consolidation above the levels of 0.7465 (EMA200 on the daily chart) and 0.7510 (23.6% Fibonacci).
    Support levels: 0.7215, 0.7170, 0.7100, 0.7030, 0.6980, 0.6910.
    Resistance levels: 0.7300, 0.7350, 0.7400, 0.7500.

    Trading tips
    Short positions can be opened from the current level with targets at 0.7170, 0.7150, 0.7110, 0.7090, 0.7030, 0.6950, 0.6910 and stop-loss at 0.7250.
    Long positions can be opened from the level of 0.7260 with targets at 0.7300, 0.7335, 0.7410, 0.7450, 0.7490 and stop-loss at 0.7190.




    ---------- Post added 12-18-2015 at 01:09 PM ---------- Previous post was 12-17-2015 at 04:07 PM ----------

    USD/CAD: review and forecast


    Current trend
    During yesterday’s session, the pair significantly grew.
    The pair was supported by strong data on the US labour market, where the number of Initial Jobless Claims fell from 282 to 271 thousands, against a forecasted decline to 275 thousands. In addition, the pair is supported by strengthening after the Fed decision on interest rates US Dollar and falling oil prices. In current conditions, the Bank of Canada might decide to continue with monetary policy easing and cut the interest rate to -0.5% that would add to the pressure on the Canadian Dollar.
    Today attention needs to be paid to data on the Consumer Price Index for November in Canada.


    Support and resistance
    On the 4-hour chart, MACD’s histogram is above the zero and its signal lines indicating strong upward trend. The K% line of Stochastic is about to cross over the D% line suggesting a possibility of a correction in the pair.
    Support levels: 1.3900, 1.3840, 1.3800.
    Resistance levels: 1.4000, 1.4050, 1.4100.


    Trading tips
    Long positions can be opened above the level of 1.4000 with targets at 1.4050, 1.4100.
    Short positions can be opened below the level of 1.3900 with targets at 1.3840, 1.3800.



    ---------- Post added at 02:27 PM ---------- Previous post was at 01:09 PM ----------

    XAU/USD: general analysis

    Current trend

    On Thursday, the XAU/USD pair was falling, being under pressure from the Fed’s decision to increase the interest rate to 0.5 percent from 0.25 percent. Having lost more than 2500 points, the price for gold was moving down towards its year lows, reached at the beginning of December. At present, the price has started correcting up in the area of 1054.35.

    Support and resistance

    On the daily chart, the pair is trading between the lower and the meddle MAs of Bollinger Bands. MA50, MA100 and MA144 are above the current price and directed down. MACD histogram is in the negative zone. The DI lines of ADX are crossing each other and directed down.
    The indicators confirm a downward trend in the XAU/USD pair.
    Today, the price is likely to remain within the channel between the lower and the middle MAs of Bollinger Bands.
    Support levels: 1049.85 (lower MA of Bollinger Bands), 1049.98 (December low).
    Resistance levels: 1067.73 (middle MA of Bollinger Bands), 1084.65, 1099.14, 1120.41, 1133.94, 1165.35, 1191.93.

    Trading tips

    Long positions can be opened at the current level with the target at 1060.50 and stop-loss at 1051.00. Validity – 1 day.


  4. #13
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    USD/JPY: BoJ loose monetary policy


    Current trend
    At the meeting on Friday, the Bank of Japan decided to keep its monetary policy mostly unchanged. BoJ Governor stated the Regulator aims at achieving an inflation rate of 2 per cent; however, much depends on the price of oil. Therefore, Japan’s Central Bank might start taking more decisive action soon.
    Today, the US Dollar is gaining back its losses against the Japanese Yen. As the Federal Reserve and the Bank of Japan have different approaches to monetary policy, the USD/JPY pair tends to be strengthening in the medium term.


    Support and resistance
    Strong support levels are 121.35 (EMA on the daily chart) and 120.55 (EMA200 and the lower border of an ascending channel on the daily chart, 61.8% Fibonacci). After the consolidation below the level of 120.55, the price might decline further to 120.00 and 118.85.
    If the price overcomes the resistance levels of 121.50 (50.0% Fibonacci), 122.10 (EMA200 and EMA144 on the 4-hour chart), 122.50 (38.2% Fibonacci), an upward trend might resume towards 123.70 (23.6% Fibonacci), 124.50 and 125.00 (the upper border of the ascending channel on the daily chart).
    On the daily chart, OsMA and Stochastic recommend short positions; on the 4-hour chart, the indicators are turning to long positions, suggesting a downward correction is, possibly, nearing the end.
    Support levels: 121.35, 121.00, 120.55, 120.00, 118.85.
    Resistance levels: 121.50, 122.10, 122.50, 123.00, 123.70.


    Trading tips
    Long positions can be opened from the current level with targets at 121.90, 122.10, 122.50, 123.00, 123.50, 123.70, 124.00, 124.50, 125.00 and stop-loss at 121.20.
    Short positions can be opened from the level of 121.10 with targets at 120.55, 120.00, 118.85 and stop-loss at 121.60.




    ---------- Post added at 04:33 PM ---------- Previous post was at 03:09 PM ----------

    GBP/USD: important statistics
    *
    Current trend
    Important data on the UK economy is expected during the week.
    Tomorrow data on the Current Account is due. According to forecasts, in November the budget deficit increased by about 4.7 billion Pounds. On Wednesday, data on the third quarter GDP is out. The figure is expected to remain at 0.5%, unchanged from the previous quarter. At the same time, latest data on consumer inflation showed a near-zero growth, while producer price indices significantly fell.
    Therefore, absence of inflation growth and poor macroeconomic statistics shift the expectations of monetary policy tightening in the UK to the second half of 2016 that will continue pressuring the pair.
    *
    Support and resistance
    On the daily chart, the pair is falling towards the lower border if a descending channel near the level of 1.4860.
    An upward correction in the pair could continue up to the levels of 1.5000 (ЕМА50 on the 4-hour chart), 1.5085 (ЕМА144), 1.5120 (ЕМА200), 1.5230 (23.6% Fibonacci correction and upper border of the descending channel). At the same time, a breakdown of the level of 1.4860 will accelerate the fall towards 1.4800, 1.4750 and 1.4600 (year lows).
    On the daily and weekly charts, OsMA and Stochastic recommend short positions, while on the 4-hour chart the indicators are turning to purchases.
    Support levels: 1.4860, 1.4800, 1.4750.
    Resistance levels: 1.4960, 1.5000, 1.5085, 1.5100, 1.5120, 1.5230.
    *
    Trading tips
    Open short positions from current prices with targets at 1.4860, 1.4800, 1.4750 and stop-loss at 1.4930.
    Long positions can be opened from the level of 1.4940 with targets at 1.5000, 1.5085, 1.5100, 1.5120, 1.5190 and stop-loss at 1.4890.




    ---------- Post added 12-22-2015 at 12:44 PM ---------- Previous post was 12-21-2015 at 04:33 PM ----------

    EUR/USD: general analysis


    Current trend
    The single European currency is trading slightly up against the US Dollar. At present, the pair remains within the range of 1.0910-1.0930. Analysts suggest the USD will continue strengthening as the Fed has started tightening US monetary policy. ECB, in its turn, tends to expand monetary stimulus to boost the EU economy.
    GDP data for the third quarter is due today in the US. If the indicator comes in above the forecast of 1.9%, EUR short positions should be placed.*


    Support and resistance
    The support level is 1.0807.
    The nearest resistance level is 1.1009.*


    Trading tips
    Short positions can be opened from the level of 1.1009 with the target at 1.0815 and stop-loss at 1.1065.



    ---------- Post added at 02:22 PM ---------- Previous post was at 12:44 PM ----------

    XAG/USD: growth impulse getting weak
    Current trend
    Yesterday, Atlanta Fed President Dennis Lockhart said a hike in US interest rates is seen as a start of a new period in US economic growth. US economy has a solid momentum going into 2016. He also noted the Fed might continue increasing rates not at every meeting but every other meeting. Therefore, the US Dollar tends to strengthen while the price of precious metals will remain under pressure.
    However, due to geopolitical tensions and global financial markets instability, demand for the safe haven assets might increase.
    Support and resistance
    Despite OsMA and Stochastic on the 4-hour and daily charts recommend long positions, the growth impulse is getting weak.
    The price reached the resistance levels of 14.20 (ЕМА144), 14.30 (ЕМА200 on the 4-hour chart). Theoretically speaking, an upward correction might reach the level of 14.45 (ЕМА50 on the daily chart).
    The pair is trading in a descending channel on the daily chart with the lower border near the level of 13.50 and in a descending channel on the weekly chart with the lower border below the level of 13.20. After the breakdown of the level of 14.00 (August lows), the fall will accelerate.
    Support levels: 14.00, 13.80, 13.65, 13.50.
    Resistance levels: 14.45, 14.80, 15.05, 15.30.
    Trading tips
    Short positions can be opened from the level of 14.20 with targets at 14.00, 13.65, 13.50, 13.20 and stop-loss at 14.40.
    Long positions can be opened from the level of 14.55 with targets at 14.75, 15.00 and stop-loss at 14.40.




    ---------- Post added 12-23-2015 at 12:29 PM ---------- Previous post was 12-22-2015 at 02:22 PM ----------

    XAU/USD: general analysis
    *
    Current trend

    After a strong growth at the beginning of the week, the price of gold declined and was ranging between 1080.68 and 1071.79 on Tuesday. At present, the price remains in the area of 1073.85 and might start correcting up to this week high 1081.60.
    Durable Goods Orders statistics for November are due today in the US. This data is an important indicator for the market; its growth has a positive effect on the economy. However, analysts expect a decline to -0.7% from 3.0% in October that might affect the USD and ease the pressure on the XAU/USD pair.
    *
    Support and resistance

    On the daily chart, the pair is trading between the upper and the middle MA of Bollinger Bands. MA50, MA100 and MA144 remain above the current price and directed down. According to the indicator, the pair is in a negative trend. MACD histogram is in the negative zone with almost no volumes. ADX indicator suggests a decline in the pair. The DI lines are directed parallel and down, ADX is falling.
    Support levels: 1068.46 (middle MA of Bollinger Bands), 1051.22, 1046.43 (beginning of December low).
    Resistance levels: 1084.74 (upper MA of Bollinger Bands), 1097.67, 1118.26, 1131.65.
    *
    Trading tips

    Long positions can be opened from the current level with the target at 1080.87 and stop-loss at 1068.46.
    If the price consolidates below the level of 1068.46, short positions would become valid. Open short positions from the level of 1065.60 with the target at 1051.22 and stop-loss at 1073.00.


  5. #14
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    USD/JPY: pair declined
    *
    Current trend

    Last week, the Japanese Yen gained support when the Bank of Japan decided to keep monetary policy unchanged. BoJ Governor gave a generally favorable outlook of the country’s economy.
    At present, the USD/ JPY pair still tends to continue declining.
    However, Japan is undergoing a period of a weak growth in Industrial Production, Services PMI and a decline in exports. Moreover, inflation will remain low in the medium term. Thus, BoJ might have to consider further changes to monetary policy.
    *
    Support and resistance

    A decline in the pair has stopped at the support level of 120.55 (EMA200 on the daily chart and 61.8% Fibonacci) which is also the lower border of an ascending channel on the daily chart. While the price remains above this level, it tends to grow in the medium term.
    The breakout of the resistance levels of 121.35, 121.50 (50.0% Fibonacci), 122.00 (EMA200 and EMA144 on the 4-hour chart), 122.50 (38.2% Fibonacci) would allow the price to strengthen to 123.70 (23.6% Fibonacci), 124.50 and 125.00 (upper border of the ascending channel on the daily chart).
    On the 4-hour, daily and weekly charts, OsMA histogram is near the zero line. Amid a decline in trading activity due to the upcoming holidays, the pair is likely to remain near the level of 121.00.
    Support levels: 120.55, 120.00, 118.85.
    Resistance levels: 121.35, 121.50, 122.00, 122.50, 123.00, 123.70.
    *
    Trading tips

    Long positions can be opened from the level of 121.60 with targets at 121.90, 122.00, 122.50, 123.00, 123.50, 123.70, 124.00, 124.50, 125.00 and stop-loss at 121.20.
    Short positions can be opened from the level of 120.35 with targets at 120.00, 118.85, 118.00 and stop-loss at 120.75.




    ---------- Post added 12-24-2015 at 02:46 PM ---------- Previous post was 12-23-2015 at 02:54 PM ----------

    AUD/USD: growth in oil prices supported AUD
    *
    Current trend

    Yesterday, after the Energy Information Administration reported a fall in US crude inventories, the price of oil grew by 3.8%.
    Since opening of the trading day, the AUD/USD pair has been strengthening amid a growth in commodity prices. The Australian Dollar gained support as Australia is a large exporter of commodities.
    However, in the medium term, the pair tends to continue declining due to different approaches to monetary policy of the Fed and RBA.
    Today, attention needs to be paid to Initial Jobless Claims data, due in the US. If the indicator comes in below the forecast, the pair might get another impulse for growth.
    *
    Support and resistance

    On the 4-hour and daily charts, OsMA and Stochastic recommend long positions.
    The nearest resistance level is 0.7290. If this level is broken out, a growth to 0.7325 (EMA144 on the daily chart) will be possible.
    If the price declines below the level of 0.7210, it might move further down to 0.7100 (lower border of an ascending correctional channel on the daily chart).
    Support levels: 0.7210, 0.7100, 0.7030, 0.6980, 0.6910.
    Resistance levels: 0.7290, 0.7325, 0.7400, 0.7450, 0.7510.
    *
    Trading tips

    Short positions can be opened from the level of 0.7220 with targets at 0.7110, 0.7090, 0.7030, 0.6980, 0.6910 and stop-loss at 0.7250.
    Long positions can be opened from the level of 0.7310 with targets at 0.7325, 0.7410, 0.7450, 0.7490 and stop-loss at 0.7280.




    ---------- Post added at 04:09 PM ---------- Previous post was at 02:46 PM ----------

    USD/JPY: general analysis
    *
    Current trend
    The Japanese Yen continues strengthening against the US Dollar amid the publication of BoJ economic report.
    Initial Jobless Claims statistics are due today in the US. Analysts expect the indicator to be down by 1K to 270K. Such dynamics suggests strong labor market conditions and might support the US Dollar.
    Tomorrow, attention needs to be paid to Japan’s Unemployment Rate which is expected to increase by 0.1% to 3.2%. Weakness in the labor market affects the country’s economy and the JPY exchange rate.
    *
    Support and resistance
    On the daily chart, the pair is trading near the lower MA of Bollinger Bands. The price remains below the MA50, MA100 and MA144, directed parallel and horizontally. MACD histogram is in the negative zone, its volumes are growing; thus, negative dynamics in the pair is likely to develop.
    Support levels: 120.12 (lower MA of Bollinger Bands), 118.80, 118.06, 117.20, 116.19.
    Resistance levels: 121.73, 122.00, 122.50, 123.60, 124.25, 125.27.
    *
    Trading tips
    Long positions can be opened from the level of 120.12 with the target at 121.15 and stop-loss at 119.85.
    Short positions can be opened from the level of 119.85 with the target at 119.00 and stop-loss at 120.12.
    Validity – 2 days.


  6. #15
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    XAG/USD: pair corrected
    *
    Current trend
    Last week the pair slightly strengthened amid closing of short positions by traders prior to Christmas holidays.
    In addition, gold and silver prices were supported by growing oil prices that managed to strengthen after the publication of oil reserves data in the US. The data showed that reserves fell by 5.88 million barrels, while experts predicted a 1.5 million barrels growth.
    At the same time, the market attention shifts to fresh macroeconomic statistics that are coming out in the US and which could help to determine future changes in monetary policy.
    *
    Support and resistance
    Bollinger Bands on the daily chart is moving horizontally while the price range remains unchanged. MACD is growing and giving a weak buy signal. Stochastic is in the overbought zone and trying to turn down.
    The indicators recommend waiting for clearer trading signals.
    Support levels: 14.30 (local low), 14.20, 14.00, 13.90, 13.82, 13.63 (14 December low).
    Resistance levels: 14.48 (local high), 14.63 (7 December high), 14.77, 15.00 (beginning of November high), 15.15, 15.25.
    *
    Tradingtips
    Long positions can be opened after the price rebound from the level of 14.20 (with the appropriate indicators signals) with targets at 14.63, 15.00 and stop-loss at 14.00. Validity – 2-4 days.
    Short positions can be opened after the breakdown of the level of 14.20 with targets at 14.00, 13.80, 13.60 and stop-loss at 14.50. Validity – 3-4 days.




    ---------- Post added at 04:03 PM ---------- Previous post was at 12:45 PM ----------

    AUD/USD: pair strengthened
    *
    Current trend
    Last week the pair strengthened by 100 points amid some weakening in the USD.
    Tomorrow data on the Producer Price Index for the fourth quarter is due in Australia. Considering strong decline in oil prices during the last quarter that dragged down all commodities’ prices, the index is unlikely to show a growth. Thus, an absence of inflation growth could force the RBA to ease monetary policy further. At the same time, amid ****ual policy tightening in the US the pair will remain under pressure in the medium-term.
    Tomorrow attention also needs to be paid to data from the US on Goods Trade Balance, Rebook Index and Consumer Confidence.
    *
    Support and resistance
    The pair broke out its trendline and resistance level at 0.7210 but failed to reach the key resistance level at 0.7330 (ЕМА144 on the daily chart).
    A breakdown of the levels of 0.7210, 0.7120 (lower border of a correctional upward channel on the daily chart), 0.7100 (December lows) would resume a downward trend towards 0.7030, 0.6980, 0.6910 (year lows).
    At the same time, a price consolidation above the levels of 0.7450 (ЕМА200 on the daily chart), 0.7510 (23.6% Fibonacci correction) would return the pair in an uptrend.
    On the daily chart, OsMA and Stochastic recommend purchases, while on the 4-hour chart the indicators turned to sales.
    Support levels: 0.7210, 0.7120, 0.7100, 0.7030, 0.6980, 0.6910.
    Resistance levels: 0.7290, 0.7330, 0.7400, 0.7450, 0.7510.
    *
    Trading tips
    Pending sell orders can be placed from the level of 0.7250 with targets at 0.7110, 0.7090, 0.7030, 0.6980, 0.6910 and stop-loss at 0.7280.
    Pending buy orders can be placed from the level of 0.7310 with targets at 0.7330, 0.7410, 0.7450, 0.7490 and stop-loss at 0.7280.




    ---------- Post added 12-29-2015 at 12:38 PM ---------- Previous post was 12-28-2015 at 04:03 PM ----------

    XAG/USD: general review
    *
    Current trend

    Yesterday the pair fell and lost about 50 points.
    Market volatility is expected to be low today. Attention needs to be paid to data on the S&P/Case-Shiller Home Price Indices in the US. According to forecasts, the index will fall that might pressure the USD. Also, pay attention to data on Consumer Confidence that is expected to grow by 3.4%.
    *
    Support and resistance

    On the 4-hour chart, the pair is trading between the upper and middle MA’s of Bollinger Bands. Moving averages with 50, 100, and 144 periods remain above the price and directed down indicating a negative trend. MACD histogram is in the negative zone and its volumes are growing. ADX is falling and DI lines are directed down indicating a fall in the pair.
    Support levels: 13.86, 13.67.
    Resistance levels: 14.03, 14.19, 14.40.
    *
    Trading tips

    Long positions can be opened from the level of 14.03 with the target at 14.19. Validity – 1 day.
    Short positions can be opened after the breakdown of the level of 13.86 with the target at 13.67. Validity – 1 day.



    ---------- Post added at 05:06 PM ---------- Previous post was at 12:38 PM ----------

    XAU/USD: pair remains within range
    *
    Current trend

    On Monday, the price of gold declined by 0.7% to $1068 per ounce.
    US Fed aims at ****ual tightening of monetary policy. As long as the US Dollar will be strengthening, the price of gold is likely to remain under pressure. Borrowing costs for purchase and storage of gold tend to increase.
    From 3:30 to 8:00 pm (GMT+2) attention needs to be paid to US news releases, among which Consumer Confidence data for December. The indicator is expected to be up to 93.8 from 90.4 points that will support the US Dollar.
    *
    Support and resistance

    In December, the XAU/USD pair has been trading within the range of 1085.00-1050.00.
    On the 4-hour chart, OsMA and Stochastic recommend long positions, but a growth in the pair is limited by the resistance levels of 1075.00 (EMA144) and 1080.00 (EMA200 on the 4-hour chart). On the daily chart, the indicators have started giving sell signals. However, due to a lack of drivers, the price is likely to remain within the range.
    Fundamental factors create prerequisites for a further decline in the price of gold.
    Support levels: 1071.00, 1067.00, 1060.00, 1050.00.
    Resistance levels: 1075.00, 1080.00, 1085.00.
    *
    Trading tips

    Short positions can be opened from the level of 1068.00 with targets at 1050.00, 1040.00, 1010.00 and stop-loss at 1077.00.
    Long positions can be opened from the level of 1082.00 with targets at 1085.00, 1088.00 and stop-loss at 1079.00.




    ---------- Post added at 05:41 PM ---------- Previous post was at 05:06 PM ----------

    XAU/USD: pair remains within range
    *
    Current trend

    On Monday, the price of gold declined by 0.7% to $1068 per ounce.
    US Fed aims at ****ual tightening of monetary policy. As long as the US Dollar will be strengthening, the price of gold is likely to remain under pressure. Borrowing costs for purchase and storage of gold tend to increase.
    From 3:30 to 8:00 pm (GMT+2) attention needs to be paid to US news releases, among which Consumer Confidence data for December. The indicator is expected to be up to 93.8 from 90.4 points that will support the US Dollar.
    *
    Support and resistance

    In December, the XAU/USD pair has been trading within the range of 1085.00-1050.00.
    On the 4-hour chart, OsMA and Stochastic recommend long positions, but a growth in the pair is limited by the resistance levels of 1075.00 (EMA144) and 1080.00 (EMA200 on the 4-hour chart). On the daily chart, the indicators have started giving sell signals. However, due to a lack of drivers, the price is likely to remain within the range.
    Fundamental factors create prerequisites for a further decline in the price of gold.
    Support levels: 1071.00, 1067.00, 1060.00, 1050.00.
    Resistance levels: 1075.00, 1080.00, 1085.00.
    *
    Trading tips

    Short positions can be opened from the level of 1068.00 with targets at 1050.00, 1040.00, 1010.00 and stop-loss at 1077.00.
    Long positions can be opened from the level of 1082.00 with targets at 1085.00, 1088.00 and stop-loss at 1079.00.




    ---------- Post added 12-30-2015 at 03:41 PM ---------- Previous post was 12-29-2015 at 05:41 PM ----------

    Brent: review and forecast

    Current trend
    Yesterday, the price of Brent crude oil fell when the American Petroleum Institute published its weekly estimate of US crude oil inventories. Last week, crude oil stocks increased by 2.9 million barrels while analysts expected a decline by 2.5 billion barrels.

    Support and resistance
    Bollinger Bands indicator on the 4-hour chart is directed down so the price is likely to continue declining. Though MACD histogram is in the positive zone, its volumes are falling.
    Support levels: 36.80, 36.35, 35.90.
    Resistance levels: 38.00, 39.00, 40.00.

    Trading tips
    Short positions can be opened at the current level with targets at 36.35, 35.90.
    Long positions can be opened if the price consolidates above the level of 38.00 with targets at 39.00, 40.00.


  7. #16
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    GBP/USD: general analysis
    *
    Current trend

    Nationwide Housing Prices data has been released today in the UK. Despite the indicator came in at 4.5% in annual terms, the GBP/USD pair fell to its April lows. At present, a correction might start – the price has turned up and is trading in the area of 1.4823.
    Not much macroeconomic data is released ahead of the New Year holidays. Today, attention needs to be paid to Pending Home Sales statistics, due in the US. Analysts forecast the indicator to come in at 0.5% from 0.2% that might support the US Dollar. Nevertheless, no high trading activity should be expected.
    Support and resistance
    On the 4-hour chart, MA50, MA100 and MA144 are above the current price and directed down, indicating a fall in the pair. MACD histogram is in the negative zone, and its volumes remain almost unchanged. The DI lines of ADX are directed down; according to the indicator, the price tends to decline.
    During the day, the pair is likely to be trading within the channel 1.4791-1.4876.
    Support levels: 1.4791 (lower MA of Bollinger Bands).
    Resistance levels: 1.4876 (middle MA of Bollinger Bands), 1.4922, 1.4963.
    *
    Trading tips

    Long positions can be opened at the current level with the target at 1.4876 and stop-loss at 1.4800.
    Short positions can be opened from the level of 1.4876 with the target at 1.4800.
    Validity – 1-2 days.



    ---------- Post added 12-31-2015 at 12:25 PM ---------- Previous post was 12-30-2015 at 06:21 PM ----------

    GBP/USD: pair trades flat

    Current trend
    On Wednesday, the GBP/USD pair ended the trading day at the opening level of 1.4815.
    Trading volumes remain low today, but the volatility might increase during the publication of ECB Monetary Policy Meeting Accounts and a series of indicators from the US. Tomorrow, financial markets are closed, and trading will resume on Monday, 4 January.

    Support and resistance
    The GBP/USD pair is trading within a narrow range between 1.800 and 1.4830. The price is in the lower part of a descending channel with the lower border near the level of 1.4770.
    On the daily, weekly and monthly charts, OsMA and Stochastic recommend short positions. On the 4-hour chart, the indicators show the pair will be trading flat. In general, the decline in the pair tends to continue.
    After the breakdown of 1.4800, the price might move further towards 1.4750, 1.4600 (year lows).
    Support levels: 1.4800, 1.4770, 1.4750, 1.4700.
    Resistance levels: 1.4880, 1.4925, 1.4985, 1.5025, 1.5080, 1.5100, 1.5140, 1.5230.

    Trading tips
    Short positions can be opened from the current level with targets at 1.4800, 1.4750 and stop-loss at 1.4860.
    Long positions can be opened from the level of 1.4870 with targets at 1.5000, 1.5050, 1.5100, 1.5120, 1.5190 and stop-loss at 1.4820.



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    Get 50% Forex Deposit Bonus Codes till it is available and makes your Forex trading more profitable. Promo-code can be used from the client’s profile, use your desire payment option and use the Bonus-Code. Being a limited time promotion, clients need to use it before it is finishes. Make your own chances to make this offer available for you, this Promo-code can be used twice by each client. Be noted that This Deposit bonus offer is not available for the clients from Malaysia and Indonesia..

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    USD/CAD: general review
    Current trend
    Last week there were very few macroeconomic publications and the pair was trading in the narrow range. The pair was pressured by poor US data on Jobless Claims and Pending Home Sales that came out worse than forecasts.
    Today attention needs to be paid to the ISM Manufacturing PMI in the US that is forecasted to fall to 49.0 points.
    Support and resistance
    On the daily chart, the pair is trading in the upper Bollinger band. Moving averages with 50, 100 and 144 periods remain below the price and directed up indicating an upward trend in the pair. MACD histogram is in the positive zone and its volumes are falling. ADX is falling, DI lines directed down.
    Supportlevels: 1.3772 (middle MA of Bollinger Bands), 1.3591, 1.3592, 1.3454.
    Resistancelevels: 1.4000 (middle of December high).
    Trading tips
    Long positions can be opened from current prices with the target at 1.4000 and stop-loss at 1.3830.
    Short positions can be opened after the price consolidation below the level of1.3772 with the target at 1.3660 and stop-loss at 1.3830.



    ---------- Post added 01-05-2016 at 03:41 PM ---------- Previous post was 01-04-2016 at 04:24 PM ----------

    USD/JPY: pair fell

    Current trend
    Since the beginning of the week, the pair significantly fell amid growing tensions in the Middle East where Saudi Arabia on Sunday cut off their diplomatic ties with Iran. At present, investors prefer to switch their funds into safe-haven currencies, one of which is the Yen.
    At the same time, the Dollar was unexpectedly supported by poor macroeconomic statistics from the US. The ISM Manufacturing PMI for December fell from 48.6 to 48.2 points, while economists predicted a growth to 49.0 points.

    Support and resistance
    Bollinger Bands on the daily chart is moving down while the price range is widening. However, the indicator points out to a possibility of the correctional growth in the pair. MACD is falling. Stochastic left the oversold zone and turned horizontally.
    The indicators recommend waiting for clearer trading signals.
    Support levels: 119.39 (local low), 119.05, 118.67 (yesterday low), 118.24, 118.00.
    Resistance levels: 119.69 (local high), 120.00 (psychologically important level), 120.16, 120.34, 120.56, 120.83, 121.00.

    Trading tips
    Long positions can be opened after the breakout of the level of 120.00 (with the appropriate indicators signals) with the target at 121.00 and stop-loss at 119.50. Validity – 2-3 days.
    Short positions can be opened after the breakdown of the level of 119.00 with the target at 118.00 and stop-loss at 119.60. Validity – 2-4 days.



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    EUR/USD: technical analysis
    EUR/USD, D1
    On the daily chart, the pair has failed to break out the 61.8% Fibonacci fan line and turned down. The price is falling along the lower MA of Bollinger Bands and is currently forming the second close below the line. The price remains below its moving averages that are directed down. The RSI broke down important support line and falling towards its November supports. The Composite is reaching its critical levels suggesting a room for further decline is limited.
    EUR/USD, H4
    On the 4-hour chart, the pair is correcting up from the lower MA of Bollinger Bands. The price remains below its moving averages that are directed down. The RSI turned up after it formed a Bullish divergence with the price. The Composite is about to test its yesterday’s resistance level.
    Key levels
    Support levels: 1.0710 (local lows), 1.0673 (November lows), 1.0550 (December lows).
    Resistance levels: 1.0801 (active trade), 1.0837 (local highs), 1.0927 (beginning of the week highs).
    Trading tips
    Short positions can be opened below the level of 1.0710 with targets at 1.0673, 1.0565 and stop-loss at 1.0745. Validity – 2-3 days.
    Long positions can be opened above the level of 1.0837 with the target at 1.0917 and stop-loss at 1.0795. Validity – 2-3 days.




    ---------- Post added 01-07-2016 at 12:31 PM ---------- Previous post was 01-06-2016 at 05:31 PM ----------

    AUD/USD: pair is falling

    Current trend
    Yesterday the pair continued falling amid strengthening since the beginning of the week US Dollar.
    The Dollar was supported by growing tensions in the Middle East between Saudi Arabia and Iran. In addition, the pair is under pressure amid slowing Chinese economy. The Caixin China Services PMI for December that was published on Wednesday showed a decline in the index from 51.2 to 50.2 points that was significantly worse than economists predicted. Furthermore, the AiG Performance of Services Index in Australia fell in December from 48.2 to 46.3 points.

    Support and resistance
    Bollinger Bands on the daily chart is turning horizontally while the price range is widening. At the same time, the indicator formed a signal for correctional growth as the price has left the lower border of the range. MACD is falling and giving a very strong sell signal. Stochastic is in the oversold zone and trying to turn sideways, thus indicating a possibility of an upward correction.
    The indicators recommend waiting for clearer trading signals.
    Support levels: 0.7042 (local low), 0.7015, 0.6981 (end of September low), 0.6936 (29 September low), 0.6908 (4 September low).
    Resistance levels: 0.7068 (local high), 0.7100 (psychologically important level), 0.7128, 0.7158, 0.7183, 0.7200 (5 January high), 0.7234, 0.7259.

    Trading tips
    Long positions can be opened after the price rebound from the level of 0.7015 (with the appropriate indicators signals) with targets at 0.7130, 0.7160, 0.7200 and stop-loss at 0.6960. Validity – 2-3 days.
    Short positions can be opened after the breakdown of the level of 0.7015 with the target at 0.6900 and stop-loss at 0.7070. Validity – 2-3 days.




    ---------- Post added 01-08-2016 at 11:29 AM ---------- Previous post was 01-07-2016 at 12:31 PM ----------

    EUR/USD: technical analysis
    EUR/USD, D1
    On the daily chart, the pair is correcting down from the middle MA of Bollinger Bands as it bounced off the top border of a descending channel. The price remains below the EMA130 and EMA65, both directed slightly down. The RSI failed to retest its end of December resistance and turned down. The Composite is about to test its longer MA.
    EUR/USD, H4
    On the 4-hour chart,the pair is falling from the upper MA of Bollinger Bands after it broke out the line few days ago.The price remains on the level with the EMA130 and EMA65 that are horizontal. The RSI bounced off the overbought zone and falling. The Composite is about to test its longer MA. The MFI turned down suggesting short-term buying pressure is falling.
    Key levels
    Support levels: 1.0834 (short-term trendline), 1.0798 (December lows), 1.0708 (local lows).
    Resistance levels: 1.0939 (upper border of the channel), 1.0993 (local highs), 1.1059 (December highs).
    Trading tips
    Short positions can be opened from the level of 1.0824 with the target at 1.0743 and stop-loss at 1.0865. Validity – 1-2 days.
    Long positions can be opened from the level of 1.0944 with the target at 1.0991 and stop-loss at 1.0926. Validity – 1-2 days.



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    XAU/USD: general review

    Current trend
    Gold continues strengthening amid economic crisis in China, where within the first few minutes of trade the CSI300 index fell by almost 7% thus forcing the authorities to stop operations on the stock market.
    In addition, markets are worried about Chinese exchange reserves that in 2015 shrank by 512 billion Dollars. According to experts, the biggest chunk of it was spent trying to artificially support of the Yuan. The Chinese government also introduced limits on Dollar purchases thus trying to stabilise the national currency.
    Therefore, due to falling oil prices and instability in China the gold is likely to keep strengthening in the near terms.

    Support and resistance
    Support levels: 1097.66.
    Resistance levels: 1112.97.

    Trading tips
    Long positions can be opened from the level of 1100.00 with the target at 1147.00 and stop-loss at 1090.00.



    ---------- Post added 01-12-2016 at 02:36 PM ---------- Previous post was 01-11-2016 at 04:19 PM ----------

    NZD/USD: general review

    Current trend
    Yesterday the pair was in an upward correction after a significant fall of the previous week.
    The pair is pressured by slowing Chinese economy, strengthening Dollar that found a significant support after the publication of strong macroeconomic statistics on the US labour market last Friday, and falling dairy prices.

    Support and resistance
    On the 4-hour chart, the pair is trading in the lower Bollinger band. Moving averages with 50, 100 and 144 periods remain above the price and directed down indicating a descending trend in the pair. MACD histogram is in the negative zone while its volumes remain unchanged. ADX suggest a fall in the pair, DI lines directed down.
    Support levels: 0.6505 (lower MA of Bollinger Bands, last week lows).
    Resistance levels: 0.6593, 0.6679, 0.6715, 0.6771, 0.6834, 0.6859, 0.6881.

    Trading tips
    Short positions can be opened from the level of 0.6540 with the target at 0.6510 and stop-loss at 0.6560. Validity – 1 day.
    Pending buy orders can be placed at the level of 0.6510 with the target at 0.6560 and stop-loss at 0.6500. Validity – 1 day.


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