forex software

Create and Test Forex Strategies

forex software
Forex Software
Products
Expert Advisor Studio Forex Strategy Builder Professional Top 10 Robots App Express Generator CoinRang Trading Courses Historical Forex Data
Purchase Partners Repository Docs & Guides Forum

Skip to forum content

Forex Software

Create and Test Forex Strategies

You are not logged in. Please login or register.

(Page 15 of 49)

Forex Software → Market Analysis → Forex Analysis by LiteForex

Pages Previous 1 … 13 14 15 16 17 … 49 Next

You must login or register to post a reply

RSS topic feed

Posts: 351 to 375 of 1,210

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

GBP/USD: general review

Current trend

After the beginning of the Brexit procedure last week the pound, contrary to the opinions of analysts, showed positive dynamics. In the beginning of the current week in view of negative data from the UK (Construction and Manufacturing PMI) the pair dropped by almost 130 points. Yesterday Retail Prices Index and Services PMI in the UK appeared to be higher than forecast, and the pair grew and regained a number of positions lost in the beginning of the week, despite positive data on the unemployment rate from the USA.

No important releases from the UK are schedulled for today. Today the market is waiting for the following events from the USA: publication of Initial Jobless Claims in the USA at 14:30 (GMT+2) with a positive outlook, statement by FOMC member John Williams at 15:30 (GMT+2), and a meeting between between the US President Donald Trump and the PRC Chairman Xi Jinping scheduled for 17:00 (GMT+2). This is the first meeting between Trump and Chinese authorities that is likely to shape the policy of relations between two major world economies for the next several years. The expectations about this event are ambiguous, but its results will certainly influence the dynamics of instruments.  

Support and resistance

Resistance levels: 1.2510, 1.2570, 1.2700, 1.2770.
Support levels: 1.2430, 1.2340, 1.2250, 1.2200.

Trading tips

Short positions may be opened at the market price with targets at 1.2340, 1.2250 and stop-loss at 1.2530.
Alternatively, one may consider opening buy positions from the level of 1.2430 with targets at 1.2510 and stop-loss at 1.2380.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9141069.png
http://savepic.net/9128781.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

AUD/USD: general review

Current trend

The fall of the Australian dollar that started last week was caused by important Australian economic indicators such as Manufacturing PMI and retail sales volume that appeared to be worse than forecast. On the other hand, the policy of the Reserve Bank of Australia aimed at the moderation of AUD strengthening was confirmed by the Tuesday decision to keep the 1.5% interest rate unchanged. Australian trading balance released on the same day appeared to be with proficiency and above outlooks which is a result of weakening of the natonal currency. Last month the national trading balance demonstrated deficiency caused by the strengthening of AUD for almost two months.

A speech by deputy head of the Reserve Bank of Australia Guy Debelle was also published yesterday. The main focus of the statement was on the reduction of the volume of foreign invesments in the industrial and national debt sectors. As a result, the pair AUD/USD continued to fall and reached the zone of 0.7530-0.7550.
No important releases from Australia are due today. Speaking about the USA, the market is waiting for the usual labour market release published in the first Friday of the month, namely on the changes in nonfarm payrolls at 14:30 (GMT+2) with negative outlook, as well as for the weekly report by Baker Hughes on active oil platforms in the USA at 20:00 (GMT+2) with positive forecast. Moreover for the last two days investors have been paying attention to the results of the meeting between the US President Donald Trump and the PRC Chairman Xi Jinping.  

Support and resistance

The correction of the pair is the most likely scenario for today.  
Support levels: 0.7490, 0.7420, 0.7310.  
Resistance levels: 0.7540, 0.7600, 0.7660, 0.7740.

Trading tips

Long positions may be opened at the market price with target at 0.7600 and stop-loss at 0.7470.
Alternatively, short positions may be opened from the level of 0.7540 with targets at 0.7420 and stop-loss at 0.7640.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9140877.png
http://savepic.net/9138829.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

DAX: Fibonacci analysis

On H4 chart the price is at the level of aggregation of Fibonacci corrections (38.2% and 23.6%) and is testing the middle line of Bollinger Bands at the level of 12195.5. If it is broken down, the growth may continue to the marks of 12258.0 (correction 23.6%) and 12360.0 (year maximums). To continue the fall the pair has to break through the aggregation of corrections at the level of 12172.0 and lower Boillinger Band. In this case the fall may continue to the aggregation of corrections (61.8% and 38.2%) 12040.5 and 11975.0 (correction 76.4%).

On D1 chart the price is being corrected from year maximums but fails to break down through the middle line of Bollinger Bands at 12130.0. If the price consolidates below it, it may continue the decrease to the level of 11820.0 (correction 23,6%). Otherwise the price may reverse and update year maximums at 12314.0. Generally, growth seems possible in the short terms, as Stochastic is turned upwards.

Trading tips

Buy positions may be opened from 12195.5 with targets at 12258.0, 12360.0 and stop-loss at 12159.0.

Alternative scenario

Sell positions may be opened from the level of 12115.0 with targets at 12040.5, 11975.0 and stop-loss at 12143.0.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9220506.png
http://savepic.net/9208218.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

XAU/USD: general review

Current trend

Gold quotes are traditionally moving upwards along with the growing of geopolitical tension in the world. After the news that the USA plan a tough response to the actions of North Korea, the prices of the metal grew by 1.49% on Tuesday. Today gold tested the resistance level of 1279.68 (a maximum since 10.11.2016) after which correction followed. Due to the absence of important macroeconomic releases today and the aggravation of the geopolitical situation the scenario of further correction development seems likely.
Support and resistance
Technical indicators show the preservation of the growth potential, not excluding the scenario of short-term correction.

Bollinger Bands are directed upwards indicating the preservation of buy activity. However the price broke through the upper line which is a sign of rate correction. The level of 1261.15 (corresponding to the middle line of Bollinger Bands) look like the main target of correction.

MACD histogram is located in the positive zone, and its volumes are growing. Breaking through the level of 1260.18 and consolidation above it will be a signal of growth continuation. In this case the growth will continue to the level of 1288.67.
Support levels: 1270.90, 1266.00, 1261.15, 1256.00.
Resistance levels: 1279.68, 1288.67, 1296.18.

Trading tips

Sell positions may be opened below 1270.90 with targets at 1266.00, 1261.15 and stop-loss at 1273.00.
Buy positions may be opened above 1279.68 with targets at 1288.67 and stop-loss at 1276.60.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9199029.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

GBP/USD: general review

Current trend

After the beginning of the Brexit procedure GBP had unusual dynamics. Since the beginning of this week the British currency has been strengthening. Investors were waiting for the publication of important consumer and manufacturer prices indexes that were released yesterday and appeared to be better than outlook. This increased the possibility that the Bank of England will pursue a "hawkish" monetary policy. Yesterday's statement by the Bank of England head Mark Carney did not cover the policy directly but was generally optimistic. After it the pair GBP/USD decreased from the level of 1.2500. However, yesterday's report on the fulfillment of the US federal budget appeared to be much worse than the forecast which weakened USD, and the pair moved upwards, updating its 2-weeks maximums.
Today's only release from the UK will be the report of the Bank of England on lending terms at 10:30 (GMT+2). However, the news is considered secondary. From the USA the market is waiting for initial jobless claims with a negative outlook at 14:30 (GMT+2) and the manufacturers price index at the same time and with the same forecast.

On Friday the Christian world will abstain from trading, and the market activity is likely to be low. Today one may expect the pair to continue consoliating.

Support and resistance

Support levels: 1.2510, 1.2430, 1.2350, 1.2250.
Resistance levels: 1.2610, 1.2700, 1.2780.

Trading tips

Long positions may be opened at the market price with targets at 1.2610, 1.2700 and stop-loss at 1.2500.
Alternatively, sell positions may be opened from the level of 1.2510 with targets at 1.2430 and stop-loss 1.2610.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9208318.png
http://savepic.net/9215486.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

Brent Crude Oil: general review

Current trend

Current week was characterized by little trust in US dollar and strengthening of commodity assets, including petrochemicals that are the most politically dependent. The growth of oil was supported by an OPEC report published in April 12 that reflected the growing demand expectations for the upcoming year and indicated the reduction of world oil reserves in general (except for the USA). On the same day US Energy Information Adminstration informed about the reduction of oil reserves by 2.2 mln barrels. As a result, after breaking through the zone of 56.00, Brent updated its 5-weeks minimum. Yesterday the growth of the asset was being corrected. It happened after the publication of a report by the US Department of Energy stating that oil production will reach an unprecedented level in 2018. Correction did not exceed the limits of critical values and did not turn into a reversal. IIt is likely it was a result of locking in profits by certain market players in view of long holidays.
Today the market will pay attention to retail sales and consumer prices index from the USA at 14:30 (GMT+2) with a negative outlook, as well as to weekly data in the number of active oil platforms at 19:00 (GMT+2). The growth of the latter indicator has a negative impact on oil prices.

Support and resistance

The most likely forecast for today is the continuation of correction at the level of 55.00-57.20.
Support levels: 55.00, 54.40, 53.75.
Resistance levels: 56.15, 57.20, 58.45.

Trading tips

Long positions may be opened at the market price with targets at 56.15, 57.20 and stop-loss at 55.50.
Alternatively, one may open sell positions from the level of 55.00 with targets at 54.40, 53.75 and stop-loss at 55.40.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9179431.png
http://savepic.net/9235750.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

USD/JPY: the reversal from the support levels is possible

Current trend
From the middle of March the JPY is growing against the USD. As the USD, the EUR and GBP are unstable, the investors’ interest towards the JPY is growing. In addition the Japan main economy sectors data are positive, which also supports the JPY. The USA macroeconomic data are controversial, and the restrained position of the USA FRS members upon the further decreasing of the stimulating program presses the USD significantly, so the pair is lowering during the last 5 trading weeks.
Last week the list of the negative USA issues was published, which weakened the USD. The Japan Industrial Production data and the Machine Tool Orders report, published in the same period, were positive.
Today the volatility is not expected to be high due to the absence of the key macroeconomical issues.

Support and resistance
Today the pair continued to lower, and the decrease can continue to the level of 107.30 in the short term, and then the pair will reverse into the upward correction. The Bank of Japan has stated that the high rate of the JPY is not profitable for the Japan economy, so the reversal is possible in the middle term period. The trend can change at the key support level at 107.30, 106.50, 105.50.
The technical indicators reflect the consolidation of the trend, MACD short positions volumes are growing.
Support levels: 108.10, 107.30, 106.50, 105.50, 104.10
Resistance levels: 108.80, 109.15, 109.85, 110.10, 110.50, 111.45, 112.20, 112.90

Trading scenario
It’s better to increase the volume of the short positions in the current trend with the target at 107.30, 106.50, but remember that the trend can change in the nearest future. Stop loss is at 109.30.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

EUR/USD: general analysis

Current trend
Yesterday the EUR/USD pair grew due to the slight weakness of the USD. The European markets were closed due to the Easter holidays, which affected the volatility and liquidity in the morning. The EUR began to grow against the USD, when the USA session opened, and the pair reached the level of 1.0670.
The traders wait for the upcoming Elections in France. Despite the fact that one of the major candidates Le Pen, who supports the tight policy, is losing her positions in the opinions pall, the major part of the electorate still didn’t make up its mind. Taking in consideration the election experience in the other countries, the objectivity of the opinion polls is doubtful, so the electing of the right wing candidate is still possible. In this scenario the Eurozone will have a hard time, as Le Pen supports the France leaving the EU.
The Presidential Elections in France are due at Sunday.

Support and resistance
On the daily chart the pair is lowering towards the strong resistance level of 1.0700. MACD is below the zero line, but is ready to cross the signal line, its volumes decreasing. Stochastic is in the neutral line, pointed upwards, giving a buy signal.
Support levels: 1.0650, 1.0590, 1.0550.
Resistance levels: 1.0700, 1.0770, 1.0830.

Trading scenario
Buy the pair is the price is set above the level of 1.0700 with the target at 1.0770, stop loss is at 1.0670.
Open short positions below the level of 1.0650 and target at 1.0590 and 1.0550, stop loss is at 1.0680.
Implementation period: 1-2 days.


Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9233465.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

Brent Crude Oil: general review

Current trend
On Tuesday Brent quotes decreased to the level of 55.00. This happened after the statement by Saudi Arabia Minister of Energy Khalid A. Al-Falih that is was early to consider the possibility of extension of OPEC+ agreement. The disappointment of the market was not eliminated even by the weekly report of American Petroleum Institute according to which US oil reserves reduced yet again by 840K barrels. The quotes still remain at the level of 55.00. Today the head of OPEC Mohammed Barkindo tried to calm down the investors by saying that the cartel was optimistic about the situation and that the measures taken by it would lead to the recovery of the market. Another positive factor for the bulls was the statement by the UAE Minister of Energy Suhail Al Mazrouei who pointed out that he was satisfied with the fulfillment of the agreement on the reduction of oil production.
These statement led to the growth of the quotes to 55.40. Upward movement may continue if API data is confirmed by the Energy Information Administration of the US Department of Energy. New weekly reduction of oil reserves may push the quotes to April maximums to the level of 56.60.

Support and resistance
Technically the price is trading within a narrow downward channel. Breaking through its upper border and the middle line of Bollinger Bands at the level of 55.55 may lead to further growth to 56.15 and 56.65. Otherwise the downward movement may resume to the level of 54.10 (correction 38.2%).
Support levels: 55.10, 54.10, 53.35.
Resistance levels: 55.55, 56.15, 56.65.

Trading tips
In the current situation short positions may be opened below 55.10 with targets at 54.10 and stop-loss at 55.30. In case the level of 55.55 is broken out, long positions with targets at 56.15, 56.60 and stop-loss at  55.15 will be relevant.

http://savepic.net/9200738.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

WTI Crude Oil: technical analysis

WTI Crude Oil, D1
On D1 chart the instrument dropped down and corrected to the middle line of Bollinger Bands. MACD histogram is in positive zone with its volume at the minimum, the signal line is crossing the zero line and the body of the histogram from below, which is a signal to open long positions. Stochastic signal line is in the neutral zone and is directed downwards. If the signal line crosses the border between the neutral zone and the oversold zone will indicate possible reversal of the price.
WTI Crude Oil, H4
On H4 chart the instrument reached the lower border of Bollinger Bands and slowed down its fall. MACD histogram is in the negative zone, the signal line is crossing the zero line and the body of the histogram from above, which is a signal to open short positions. Stochastic is in neutral zone, moving along the border with the oversold zone and not giving any clear signal.

Key levels
Support levels: 51.00, 50.50, 50.00, 49.30, 48.00, 47.15.
Resistance levels: 51.70, 52.50, 53.00, 53.50, 54.10, 54.50, 55.00.

Trading tips
In view of technical indicators, opening short positions from the current price with targets at 50.50, 50.00 seems preferable. Stop-loss should be placed on the level of 51.80. The period of implementation is 1-3 days.
Buy positions may be opened at the level of 52.00 with targets at 52.50, 53.00 and stop-loss at 51.70. The period of implementation is 1-3 days.

http://savepic.net/9177986.png
http://savepic.net/9179010.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

GBP/USD: general review

Current trend
The growth of GBP/USD slowed down today in view of publication of retail sales data from the UK. The indicator appeared to be less than forecast and reduced by 1.8% in monthly terms. On YoY basis it increased oinly by 1.7% against the expected growth by 3.4%. However, after significant growth in the beginning of the week the pound remains quite confident against US dollar and keeps trying to consolidate above 1.2850. The key support level is 1.2700. After breaking through it the "bulls" are likely to take a break which may lead to a correction to the level of 1.2400 in the medium term.
Today traders should pay attention to news from the USA namely changes in Markit Manufacturing PMI as well as compound Markit PMI.

Support and resistance
On D1 chart the price corrected to the upper border of Bollinger Band and slowed growth. MACD histogram is in the positive area and keeps the signal for the opening of long positions.
Support levels: 1.2780, 1.2700, 1.2600, 1.2550, 1.2500.
Resistance levels: 1.2850, 1.2900.

Trading tips
Long positions may be opened from the current level with target at 1.2900 and stop-loss at 1.2760.
Short positions may be opened from the level of 1.2690 with target at 1.2600 and stop-loss at 1.2720.
The period of implementation is 1-3 days.

http://savepic.net/9229272.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

AUD/USD: general analysis

Current trend
Last week the pair was traded controversial. In the beginning of the week the AUD was lowering due to the RBA meeting minutes, which confirmed the “dovish” policy and kept the interest rate on the minimum level. On Thursday and Friday the USD was lowering after the publication of the negative employment market and building data.
Yesterday the USD continued to fall due to the negative secondary business activity data. Despite the fact that the AUD/USD trading day closed in the red zone the whole dynamics is positive. The pair strongly consolidated above the level of 0.7500.
Today is ANZAC Day in Australia, so the banks don’t work and there is no news and publications, so the traders should pay attention to the USA Consumer Confidence publication (expected to be negative) and the New Home Sales data (expected to be negative, too).
On Wednesday the Australian Consumer Price Index is worth traders’ attention (expected to be positive). If it meets the expectations and the corresponding RBA decisions follows, the AUD will strengthen in the nearest future.

Support and resistance
Support levels: 0.7490, 0.7440, 0.7380, 0.7310.
Resistance levels: 0.7615, 0.7570, 0.7680, 0.7750.

Trading scenario
Open long positions at the current price with the target at 0.7615, 0.7680, stop loss is at 0.7480.
Open short positions at the level of 0.7490 with the target at 0.7440, 0.7380, stop loss is at 0.7530.
Implementation period: 2-3 days.

http://savepic.net/9233061.png
http://savepic.net/9239205.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

GBP/USD: general analysis

Current trend
The consolidation of the pair after the rapid growth on last Tuesday reflects the investors’ uncertainty in the further dynamics, as they are waiting for clearer signals. Yesterday in the first half of the day US dollar was strengthening, but the pair managed to keep its positions. Tonight's growth attempts of USD were also followed by the strengthening of GBP/USD which indicates slim chanses of the pair's quick return to monthly or even 2-weeks minimums. On Friday the UK GDP key data (expected to be positive) and the YoY USA GDP data (expected to be negative) are worth traders’ attention.
Today there is no significant news from the UK, and the Durable Goods Orders ex Transportation data (expected to be negative) and the Pending Home Sales data (expected to be negative) are to be published today in the USA.
The consolidation of the pair until Friday is expected.

Support and resistance
Resistance levels: 1.3035, 1.3200.
Support levels: 1.2700, 1.2780, 1.2865.

Trading scenario
Open short positions at the current price with the targets at 1.2780, 1.2700, stop loss is at 1.2930.
Buy the pair at the level of 1.2930 with the target at 1.3035 and stop loss at 1.2890.

http://savepic.net/9202196.png
http://savepic.net/9200148.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

USD/JPY: general review

Current trend
In the beginning of the previous week the pair USD/JPY reversed from its 5-month minimum. The growth of yen stopped after the publication of Japanese trading balance (much worse than forecast) last Thursday. This week the growth of the pair continued despite the fall of USD. The pair continued to weaken after yesterday's decision of the Bank of Japan to keep the interest rate unchanged in the minimum level. The pair reached its 4-weeks minimum and broke through the resistance level of 111.20. A number of important macroeconomic releases were published in Japan tonight: consumer price index, labor market data, production output forecast, and the volume of retail sales. All indicators lost a number of positions but investors failed to show any evident reaction so far.
No important releases from Japan are to be expected until next week. From the USA the market is waiting for the GDP data with a negative outlook at 14:30 (GMT+2). PMI Chicago (also with a negative forecast) is due at 15:15 (GMT+2), and consimer sentiment index with a neutral outlook will be published at 16:00 (GMT+2). Statements by FOMC members Harket and Brainard are due at 19:15 (GMT+2) and 20:30 (GMT+2) respectively.
The most likely scenario for today is the continuation of the upward correction.

Support and resistance
Support levels: 110.20, 108.90, 107.40.
Resistance levels: 111.20, 112.20, 113.20, 114.00.

Trading tips
Long positions may be opened at the market price wuth targets at 112.20, 113.20 and stop-loss at 110.30.
Alternatively, sell positions may be opened from the level of 110.20 with target at 108.90 and stop-loss at 111.10.

http://savepic.net/9203293.png
http://savepic.net/9200221.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

NZD/USD: general review

Current trend

Last Friday a number of important releases came from New Zealand: trading balance and construction permits. Although March trading balance showed stable growth in March, it appeared to be less than forecast. The number of construction permits fell considerably in comparison with the previous period. All these factors had a negative impact on the dynamics of the pair that has been falling for the whole previous week and updated 11-months minimums after reaching the level of 0.6850. The pair weakened in view of US dollar's being under the influence of mixed factors that the investors perceive as "hawkish". This is especially important in view of the upcoming FOMC decision on the interest rate that is expected to be made on Wednesday, May 3 at 20:00 (GMT+2).

No important releases are expected from New Zealand today. From the USA, on the contrary, certain important data are due: a statement by the US Minister of Finance Stephen Mnuchin at 13:45 (GMT+2), information on personal income and expenditure with mixed forecasts (income decreases, and expenditure goes up which indicates slower economy rates) at 14:30 (GMT+2), and at 16:00 (GMT+2) — Manufacturing PMI and Inflation Build-Up Index (both with negative outlooks also indicating slower economy growth). In case the forecasts prove true, Wednesday decision on the interest rate will be under strong "dovish" influence. Today's speech by Stephen Mnuchin is to clarify many things. One may expect his rhetorics to determine the dynamics of the pair (and all other USD pairs) this week.
The main scenario for today will be further weakening of the pair.

Support and resistance

Support levels: 0.6800, 0.6710, 0.6600.
Resistance levels: 0.6865, 0.6910, 0.7000, 0.7075.

Trading tips

Short positions may be opened at the market price with targets at 0.6800, 0.6710 and stop-loss at 0.6910.
Alternatively, buy positions may be opened from 0.6865 with targets at 0.6910, 0.7000 and stop-loss at 0.6820.
The period of implementation is 1-2 days.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9273836.png
http://savepic.net/9281004.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

XAG/USD: technical analysis

XAG/USD, D1

On the daily chart, the instrument is trading on the lower line of Bollinger Bands, having formed 5 consecutive closes below the line. The price remains below its moving averages that are horizontal. The RSI is trying to leave the oversold zone. The Composite is turning up as well, having reached its critical oversold levels.

XAG/USD, H4

On the 4-hour chart, the instrument is correcting up from the lower line of Bollinger Bands. The price remains below its moving averages that are directed down. The RSI keeps testing from below the border of the oversold zone that coincide with its longer MA. The Composite keeps developing Bullish dynamics.

Key levels

Support levels: 16.79 (March lows), 16.38 (October 2015 highs), 16.15 (November 2016 lows).
Resistance levels: 17.08 (October 2016 lows), 17.19 (December 2016 highs), 17.67 (local highs).

Trading tips

The price is testing a strong support near 16.80. Indicators suggest a high chance of an upward correction.
Long positions can be opened from current prices with targets at 17.08, 17.19 and stop-loss at 16.80. Validity – 2-3 days.
Short positions can be opened from the level of 16.70 with the target at 16.38 and stop-loss at 16.80. Validity – 2-3 days.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9247007.png
http://savepic.net/9245983.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

Brent Crude Oil: general review

Current trend

Yesterday Brent consolidated in view of the publishing of the API report on weekly changes in the US oil reserves. The reserves of four main oil products in the USA decreased by over 4 million barrels which helped the trading instrument consolidate above 50.80. Along with this, oil market continues to experience pressure due to uncertainty about the extension of OPEC agreement on the limitation of oil production for the second half of 2017. Moreover, fuel production in the USA has reached a maximum level since August 2015 which puts additional pressure on oil. At the same time the UAE Minister of Oil stated it was reasonable to extend the agreement and pointed out that full solidarity of its members was needed to reach the goal.

A key event that may considerably impact the dynamics of the trading instruments is the OPEC summit that will take place on May 25 in Vienna. Today the US Department of Energy will publish its report on weekly changes of commercial oil and petrochemicals reserves. Specialists expect them to decrease for the fourth week in a row which will lead to the strenghtening of Brent Crude Oil. Also attention today should be paid to the decision of the US regulator on the interest rate.

Support and resistance

On the H4 chart the instrument is correcting in the lower part of Bollinger Bands. The indicator is directed downwards while the price range has widened which is a ground for the continuation of the current trend. MACD histogram is in the negative zone maintaining the sell signal. Stochastic has turned upwards at the border of the oversold zone. Indicators don't give a clear signal for entering the market, therefore it would be wise to use sell and buy stop orders.

Support levels: 50.80, 50.64, 50.49, 50.32, 50.19.
Resistance levels: 51.10, 51.25, 51.37, 51.60, 51.83.

Trading tips

Short positions may be opened from the level of 50.75 with targets at 50.30, 50.10 and stop-loss at 51.05. The period of implementation is 1-2 days.
Long positions may be opened from the level of 51.10 with targets at 51.60 and stop-loss at 50.90. The period of implementation is 1-2 days.
Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9253203.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

USD/CAD: general review

Current trend

Canadian dollar has been falling against USD for two weeks which causes active growth of USD/CAD.

This week the pair broke through a strong resistance level of 1.3700 around which it stayed last February. The fall of the Canadian currency happened in the absence of growth of US dollar that remains in the narrow flat for the second week and in view of a small number of important releases from Canada. The most likely fundamental reasons for this dynamics may be falling oil prices that Canadian dollar has always been sensitive for. Another strong factor is the growth of return on American bonds. Recently this factor has been one of the main reasons for the decrease of all reserve currencies against USD.

The most important news of today will be the data on Canadian trade balance at 14:30 (GMT+2). A small reduction of balance deficiency from CAD 0.97 to 0.80 trln is expected which is a positive factor. At the same time the forecast for the US trading balance states the deficiency in the amount of $900 mln. The data on the volume of industrial orders from the USA will be published at 16:00 (GMT+2). The indicator is expected to drop to 0.4% which will have a negative impact on USD. A statement by the head of the Bank of Canada Stephen Poloz is scheduled for 22:25 (GMT+2).
A likely scenario for today is the continuation of the pair's strengthening.

Support and resistance

Technically the price is returning to the upward movement zone in which it has remained since last May. The support line of this trend being also the lower border of channel D1 (blue) has confirmed its strength several times. The upper zone of this range around the levels of 1.4030-1.4160 may be the target of the pair.
Support levels: 1.3700, 1.3600, 1.3535, 1.3450.
Resistance levels: 1.3840, 1.4030, 1.4160.

Trading tips

Long positions may be opened at the market price with targets at 1.3840, 1.4030 and stop-loss at 1.3640.
Sell positions may be opened from the level of 1.3700 with targets at 1.3600, 1.3535 and stop-loss at 1.3800.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9270404.png
http://savepic.net/9259140.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

USD/CHF: technical analysis

USD/CHF, D1

On the daily chart, the pair is correcting up from the lower line of Bollinger Bands. The price remains below its moving averages that start turning down. The RSI is trying to turn up just above the border of the oversold zone. The Composite starts forming a divergence with the price, suggesting a growth possibility.

USD/CHF, H4

On the 4-hour chart, the pair is correcting up from the lower line of Bollinger Bands. The price remains below its moving averages that are directed down. The RSI turned up having bounced off the border of the oversold zone. The Composite is turning up as well, showing a divergence with the price.

Key levels

Support levels: 0.9830 (March lows), 0.9780 (December 2015 lows), 0.9710 (February 2010 lows).
Resistance levels: 0.9950 (May 2016 highs), 1.0001 (local highs), 1.0044 (local highs).

Trading tips

The pair is approaching its strong support level near 0.9830. There is a chance of an upward rebound.
Long positions can be opened from current prices with targets at 0.9950, 1.0001, 1.0044 and stop-loss at 0.9830. Validity – 3-5 days.
Short positions can be opened from the level of 0.9830 with targets at 0.9780, 0.9710 and stop-loss at 0.9860. Validity – 3-5 days.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9283779.png
http://savepic.net/9287875.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

AUD/USD: general analysis

Current trend

From the beginning of the month the AUD is actively lowering against the USD due to the quite poor macroeconomic data from the Australia, such as the lowering of the April trade balance surplus and the RBA decision to keep the interest rate on the same minimum level.

Last week the new home sales in Australia lowered to this year minima, also the copper and gold prices lowered significantly, as Australia keeps the leading positions on export of these materials. As a result the price reached the 4 month minimum, and only the support zone at the level of 0.7350-0.7400 was strong enough to reverse the pair into the corrections due to the quite controversial traders’ reaction to the positive USA employment market data on Friday. The USD was trading in the narrow flat for the two weeks, but after the publications of these important data, which were better than expected, ended the last week with a significant lowering. The investors’ reaction will probably appear this week.

Today the traders should pay their attention to the 3 and 6 Month Bill Auctions data. Tomorrow the Australia Retail Sales data are worth traders’ attention: the growth of the index to the level of 0.3% is expected.
The development of the correction due to the absence of the important news is expected today.

Support and resistance

Support levels: 0.7380, 0.7310, 0.7200.
Resistance levels: 0.7570, 0.7530, 0.7490, 0.7440.

Trading scenario

Open long positions at the current price with the target at 0.7440, 0.7490 and stop loss at 0.7360.
Open short positions at the level of 0.7380 with the target at 0.7310, 0.7200 and stop loss 0.7470.
Implementation period: 1-2 days.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9294928.png
http://savepic.net/9284688.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

USD/JPY: general review

Current trend
The Japanese yen, together with all commodity currencies, is falling against the US dollar. The pair USD/JPY last week renewed a five-week maximum. The report of the Bank of Japan last Tuesday confirmed the soft monetary policy, weakening the yen, and the positive labor market data from America supported the dollar. As a result, the pair is testing the critical resistance level of 113.30, which coincides with the 50% Fibonacci level of the semi-annual fall of the pair.

Today, there are no data from Japan. In the United States at 16:00 (GMT+2) the number of open vacancies in the labor market will be published. It is predicted that the number will decrease by 73K which is not a significant figure, but any diverging from the forecast may impact the movement of the pair. At 19:00 (GMT+2) and at 20:15 (GMT+2) officials of the US Federal Reserve Steven Kaplan and Eric Rosenberg will be speaking.

Support and resistance
Support levels: 112.20, 111.20, 110.20.
Resistance levels: 113.30, 114.00, 115.00.

Trading tips
Long positions can be opened at the market price with the target of 114.00, stop-loss – 113.30.
Short positions can be placed at the level of 112.20 with the goal of 111.20, the stop-loss is 113.00.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9246618.png
http://savepic.net/9298845.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

NZD/USD: general analysis

Current trend

During the last two weeks the NZD showed the best results among the commodity currencies and assets, which were lowering against the USD. Last week the NZD was supported by the growth of the dairy prices and the increase of the employed, and was trading flat above the level of 0.6865, which is almost the year minimum.
Today the traders are waiting for the key publications from the USA. The Export Price Index and Import Price Index will be published. The export is expected to lower and the import is expected to grow, which will decrease the trade balance. The 10-Year Note Auction data will be published, and the profitability of them is growing form the last August, which is positive for the USD. The Monthly Budget Statement is also expected, but it will affect the price insignificantly.

The NZRB interest rate decision will be published tomorrow, the rate is expected to stay on the minimum level of 1.75%. The Monetary Policy Statement is also expected, which will affect the dynamics of the pair.
The insignificant growth of the pair is expected today.

Support and resistance

Support levels: 0.6865, 0.6800, 0.6710.
Resistance levels: 0.6910, 0.7000, 0.7075, 0.7170.

Trading scenario

Open long positions at the current price with the target at 0.7000 and stop loss at 0.6870.
Sell the pair from the level of 0.6865 with the target at 0.6800 and stop loss at 0.6900.
Implementation period: 1-2 days.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9284548.png
http://savepic.net/9288644.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

AUD/USD: general analysis

Current trend

The AUD was lowering against the USD due to the list of factors, such as the RBA interest rate decision, the lowering of copper, gold and iron ore, the poor macroeconomical Australian statistics. After a quite long fall the price reversed into the upward correction form the level of 0.7330, which is quite strong support level. The breakout of this level will give a signal for the downward trend to continue.
As for the macroeconomical releases, which can affect the pair, the USA Producer Price Index is worth traders’ attention today (14:30 GMT+2) and the Initial Jobless Claims (14:30 GMT+2). The Producer Price Index is expected to grow to 0.2% in April from -0.1% in the previous month, and the Initial Jobless Claims number will grow to 245K WoW from 238K in the previous week.

Support and resistance

Technically the price consolidated on the black downward channel H4, which has been determining the price for the last two months. On the other hand, the price didn’t reach the lower border of the blue channel D1, which has been supporting the price for a year. This dynamics of the price can reflect the “bullish” mood, but positions of the sellers of the AUD/USD pair are still strong.

Support levels: 0.7310, 0.7270, 0.7200.
Resistance levels: 0.7490, 0.7440, 0.7380.

Trading scenario

Open long positions from the current price with the target at 0.7440 and stop loss at 0.7345.
Open short positions from the level of 0.7310 with the target at 0.7270, 0.7200 and stop loss at 0.7350.
Implementation period: 1-2 days.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9241347.png
http://savepic.net/9247491.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

XAU/USD: general analysis

Current trend

After the long fall the gold price met the support at the zone of 1210.00-1220.00, after which it reversed to the upward correction. The upper border of the channel D1 (green), which has been supported the price for the 4 months, coincided with the 50% Fibonacci from the last half a year price growth. Despite the strong technical support, the fundamental factors are still pressing the gold: the growth of the US bills yield and the expectations of the USA FRS interest rate rise in the June meeting

Today the market participants are waiting for the USA publications: the Retail Sales and Inflation data (14:30 GMT+2). The Retail Sales index is expected to grow to 0.6% in April from 0.5% in the previous month.

Support and resistance

Support levels: 1210.00, 1190.00, 1170.00.
Resistance levels: 1230.00, 1250.00, 1265.00.

Trading scenario

Open long positions at the current price with the target at 1230.0 0.1250.00 and stop loss at 1210.00.
Open short positions from 1210.00 with the target at 1190.00, 1170.00 and stop loss at 1230.00.
Implementation period: 1-3 days

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9258828.png
http://savepic.net/9264972.png

  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

Brent Crude Oil: general review

Current trend

The report of the Energy Information Administration of the US Department of Energy showed the reduction of oil reserves in the USA by over 5.2 mln barrels which gave the prices stong growth momentum. The strengthening was supported by the monthly OPEC report published on Thursday. The main idea of the report was that the member states of the cartel and external exporters have reached consensus on the extension of OPEC+ agreement. The final decision on this matter is expected to be made in Vienna at the meeting of all member countries.

No important releases for the instrument are due today. One may pay attention to Manufacturing PMI from New York that comes before federal data (with a positive outlook). More attention should be paid to tomorrow's report of IEA on the process of fulfillment of OPEC+. During the week reports by API and EIA may also be of interest. as they may confirm or disprove the tendency for further reduction of US oil reserves.
The most likely forecast for the near future will be the continuation of upward correction of oil.

Support and resistance

Technically the price broke through the levels 50.00, 50.90, lower border of channel H4 (black) and 51.50. After consolidation above this zone one may expect the growth to continue to higher targets.
Support levels: 51.50, 50.90, 50.00.
Resistance levels: 52.60, 53.00, 53.75.

Trading tips

Long positions may be opened at the market price with targets at 52.60, 53.00 and stop-loss at 51.50.
Alternatively, buy positions may be opened from the level of 51.50 with targets at 50.90, 50.00 and stop-loss at 52.10.
The period of implementation is 2-3 days.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

http://savepic.net/9258713.png
http://savepic.net/9263833.png

Posts: 351 to 375 of 1,210

Pages Previous 1 … 13 14 15 16 17 … 49 Next

You must login or register to post a reply

Forex Software → Market Analysis → Forex Analysis by LiteForex

Similar topics in this forum