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 16 of 49)

Forex Software → Market Analysis → Forex Analysis by LiteForex

Pages Previous 1 … 14 15 16 17 18 … 49 Next

You must login or register to post a reply

RSS topic feed

Posts: 376 to 400 of 1,210

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

Re: Forex Analysis by LiteForex

USD/CHF: general review

Current trend

Since the middle of the previous week the pair has been in the downward correction. Both recent data from the USA (retail sales and CPI) and Switzerland (CPI and manufacturers price index) were quite weak. However, the investors worried more about the fate of the US currency which pushes the pair down. Additional interest of the market to USD is explained by the expectations of June FOMC meeting and its interest rate decision. In these terms any signs of slowdown in the US economy put considerable pressure on USD, as the market worries about postponing the interest rate increase.

Today no important statistics from Switzerland is expected. From the USA the market is waiting for the data on the number of new construction permits and houses under construction in April. The most important release will be the volume of industrial output in the USA: the indicator is expected to fall from 0.5% to 0.4% which may cause further decrease of the pair.

Support and resistance

Technically, the pair has been moving in almost horizontal range between the borders of green channel D1 and the middle line for four months. The balance line of the channel is the level of parity with USD (1.0000).

Support levels: 0.9930, 0.9850, 0.9780, 0.9700.
Resistance levels: 1.0000, 1.0050, 1.0110, 1.0180.

Trading tips

Short positions may be opened at the market price with target at 0.9850 and stop-loss at 0.9950.
Alternatively, buy positions may be opened from the level of 1.0000 with targets at 1.0050, 1.0110 and stop-loss at 0.9960.
The period of implementation is 2-3 days.

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

http://savepic.net/9256473.png
http://savepic.net/9254425.png

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

Re: Forex Analysis by LiteForex

GBP/USD: general review

Current trend

On Tuesday GBP experienced volatility after the release of the data on the consumer price index. In March the indicator made 2.7% which considerably exceeds the target level of 2.0%. Investors worried that due to reduced income of households high inflation may lead to the fall of internal demand, that is why the pair went done but soon restored its lost positions. Today's releases included positive data on the unemployment rate (that dropped to 4.6% in March) and the average salary (the indicator with bonuses increased by 2.4%).

Generally, the pair is consolidating between the levels of 1.2865 and 1.2990. No considerable difficulties in the British economy caused by Brexit have been observed yet, and GBP is not weakening. On the other hand, the investors worry that FOMC intends to increase the interest rate, and President Trump states USD is too strong.
Among Wednesday news one may pay attention to the statement by the member of the Monetary Policy Committee of the Bank of England Haldane that could shed some light on further actions of the British regulator.
The growth of the pair is a forecast for the next two days.

Support and resistance

Support levels: 1.2700, 1.2780, 1.2865.
Resistance levels: 1.2990, 1.3040, 1.3110, 1.3200.

Trading tips

Long positions may be opened at the market price with targets at 1.2990, 1.3040 and stop-loss at 1.2900.
Alternatively, sell positions may be opened from the level of 1.2865 with target at 1.2780 and stop-loss at 1.2950.

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

http://savepic.net/9244237.png
http://savepic.net/9247309.png

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

Re: Forex Analysis by LiteForex

Brent Crude Oil: general analysis

Current trend

On Wednesday the Brent Crude Oil price grew, reacting to the API Crude Oil Stocks change that showed the USA resources lowering. The EIA Crude Oil Stocks change, which was published in the Wednesday evening, showed the lowering by 1.753 million barrel in a week. As a result the Brent Crude Oil grew by 1.81% and reached the area of the level of 52.64. The price tried to consolidate above the level for some times, but didn’t succeed, so the price was corrected downwards. It’s hard to increase the price above the level, taking into consideration the global oil surplus problems. After the slight growth of the last days the price entered the downward correction.

The traders are waiting for the further OPEC signals upon the stabilization of the world oil production level. The nearest OPEC meeting is on May, 25 in Vienna.

Support and resistance

Technical indicators reflect the growing influence of the sellers. Bollinger Bands are pointed downwards. MACD histogram is in the positive zone; however its volumes are decreasing confirming the downward trend.
Support levels: 51.20, 50.30, 49.20.
Resistance levels: 52.64, 53.67, 54.44.

Trading scenario

Open short positions below the level of 51.20 with the target at around 50.30 and stop loss at 51.45.
Open long positions above the level of 52.64 with the target at around 53.67 and stop loss at 52.30.

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

http://savepic.net/9260660.png

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

Re: Forex Analysis by LiteForex

EUR/USD: general review

Current trend

On Thursday USD stabilized after a fall in the beginning of the week caused by political turmoil in the USA. The US currency was supported by a strong unemployment report. The number of initial jobless claims dropped from 236K to 232K while the experts expected it to grow to 240K. Moreover, manufacturing PMI in Philadelphia suddenly drew from 22.0 to 38.8 points against the negative forecast of 19.9 points.

Currently the possibility of further fall of USD is high as political instability in Washington puts complex pressures on USD. Along with this Trump's impeachment is often mentioned in the media, and macroeconomic statistics becomes secondary.
Today in the second half of the day the market will be waiting for a statement by FOMC representative James Bullard dedicated to the fiscal policy. The comments of the official may have a considerable impact on the dynamics of the pair as the doubts about the growth of interest rates grow every day. Later on the European Commission will publish the data on consumer sentiment index in May. The expected growth of the indicator will strengthen the pair.

Support and resistance

On D1 chart the pair is trading in the upper part of Bollinger Bands. The indicator is directed downwards while the price range remains unchanged which is a ground for the continuation of the current trend. MACD histogram is in the positive zone with its volumes growing and keeping the sell signal. Stochastic is about to leave the overbought zone.

Support levels: 1.1065, 1.1015, 1.0951, 1.0853, 1.0765.
Resistance levels: 1.1132, 1.1183, 1.1246, 1.1310.

Trading tips

Long positions should be opened at the current price with targets at 1.1245 and stop-loss at 1.1038. The period of implementation is 1-2 days.
Short positions could be opened at the level of 1.1036 with target at 1.0945 and stop-loss at 1.1100. The period of implementation is 1-3 days.

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

http://savepic.net/9333176.png

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

Re: Forex Analysis by LiteForex

Brent Crude Oil: general analysis

Current trend

Last week oil prices reached the 4 weeks maximum around 53.50-54.00 USD per barrel. The price was supported by the lowering of the USD, which is weakening due to the USA Administration crisis. The lowering of the US oil recourses also made a positive impact on the price. In addition, the commentaries of the OPEC members leave no doubt that the oil production limitation agreement will be prolonged.
The main upcoming issue in the oil market is the OPEC meeting in Vienna on May, 25. Most likely, the result of the meeting is already taken into account by the investors, and after the publication of the results of the OPEC meeting the traders will fix the profit partially, which will lead to the lowering of the price.

Support and resistance

Technical picture reflects that the price crossed very significant resistance zone — the lower border of the channel D1 (blue), which has been the price growth trend line for the year and a half. Further reaction of the price in this zone will determine the movement dynamics in the nearest future.
Support levels: 53.75, 53.00, 52.60, 51.50.
Resistance levels: 54.40, 55.00, 56.15, 57.20.

Trading scenario

Open long positions at the current price with the target at 54.40, 55.00 and stop loss at 53.70.
Sell at the level of 53.00 with the target at 52.60, 51.50 and stop loss at 53.40.
Implementation period: 2-3 days.

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

http://savepic.net/9314637.png
http://savepic.net/9321805.png

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

LiteForex Brent Crude Oil: general review

Current trend

Last Friday the price of Brent oil reduced after the announcement of intermediary results of assessment of the damage caused by Harvey storm. The launch of operation of refineries in the Gulf of Mexico reduced the investors' concerns about a serious crisis in the US oil industry. The market reacted to this news by fixing profits in long positions which put additional pressure on the trading instrument. Moreover, according to EAI information, weekly reserves of crude oil in the USA increased by 4.6 mln barrels. At the same time gas prices have dropped, as the majority of the Americans decided to limit the use of personal cars due to Irma storm.

No important macroeconomic data able to have considerably impact on the dynamics of the trading instrument are due today. Tomorrow attention should be paid to the release of the API report on oil stocks in the USA.

Support and resistance

On D1 chart the pair is trading in the upper part of Bollinger Bands. The indicator is directed to the side, and the price range is widening, indicating the continuation of the current trend. MACD histogram is in positive zone, keeping the signal for the opening of long positions. Stochastic has left the overbought zone and formed a strong sell signal.

Support levels: 50.65, 51.65, 52.50, 53.40.
Resistance levels: 54.40, 55.35, 56.30.

Trading tips

Long positions may be opened at the current price with targets at 54.80, 55.30 and stop-loss at 53.20. The period of implementation is 1-3 days.

Short positions may be opened from the level of 53.35 with targets at 52.45 and stop-loss at 53.60. The period of implementation is 1-3 days.


http://savepic.net/9914781.png

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

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

LiteForex USD/JPY: calmness in North Korea caused the growth of the pair

Current trend

The pair started the week with considerable growth connected with the release of tension in the Korean Peninsula.

Investors waited for new missile tests on September 9, but Pyohgyang refused from provocative actions. On the other hand, on Monday the UN Security Council imposed a number of new sanctions on North Korea except for the most notable embargo on oil supply. This was also considered a positive action by the market. As a result, risk appetites returned to the market and by now let the pair reach the level of 109.70. Recent data on machine building orders (the volume of which reduced by 7.5% YoY in July) also put pressure on yen.

Support and resistance

Technically the pair has increased above the gathering of Fibo correction at 109.00 and is aiming at 110.00 (Fibo correction 38.2%, Murrey level [6/8]) to the area of the upper border of the downward channel. Breaking through this level will open a way for growth to 110.85 (Fibo correction 50.0%, Murrey level [8/8]). In case of reversal of the price around the level of 110.00 possible targets of the "bears" will be the levels of 109.00 (gathering of Fibo corrections), 108.60 (middle line of Bollinger Bands, Murrey level [2/8]) and 107.80 (Murrey level [0/8]). Technical indicators generally show growth but do not exclude the beginning of correction. Bollinger Bands are reversing upwards, and MACD histogram grows in the positive zone. Stochastic is in the overbought area but may leave it forming a sell signal.

Support levels: 109.00, 108.60, 108.20, 107.80.
Resistance levels: 110.00, 110.55, 110.85.

Trading tips

In the current situation long positions should be opened at the current price with targets at 110.00, 110.55, 110.85 and stop-loss at 109.40.
Short positions should be opened below the level of 109.00 or in case of reversal near 110.00 with targets at 108.60, 108.20, 107.80 and stop-loss at 109.40 and 110.40.

http://savepic.net/9923858.png

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

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

LiteForex XAG/USD: silver dynamics is mixed

Current trend

During trading session on Tuesday, September, 12, silver prices insignificantly grew and stepped off the local minimum since the beginning of the month. The instrument is trying to enter the upward correction after downward gap opening on Monday due to the fall of the market demand on shelter assets after DPRK refused to test missiles last weekend, which helped to release the tense upon the North Korea situation.
On Wednesday, September, 13, the investors are waiting for Producer Price Index publication at 14:30 (GMT+2) in the USA. The MoM value is expected to grow by 0.3% MoM after the fall by 0.1% MoM in the previous month. In addition, the Monthly Budget Statement will be published at 20:00 (GMT+2) in the USA.

Support and resistance

On the daily chart Bollinger Bands are steady growing. The price range is narrowing, reflecting the appearance of the controversial trade dynamic this week. It’s better to use the channel trading strategy.
MACD is going down, keeping weakening sell signal (the histogram is below the signal line). It’s better to wait until the signal is clear, as current readings are uninformative.

Stochastic has reached the border of the oversold area and reversed into flat, reacting to the attempt of correctional growth in the beginning of the week. It’s better to wait until the situation is clear and the indicator reverses fully.
Resistance levels: 17.87, 18.00, 18.17.
Support levels: 17.66, 17.53, 17.38, 17.27, 17.16.

Trading tips

Long positions can be opened after the breakout of the levels of 17.87 or 18.00. Take profit is 18.20–18.30. Stop loss is 17.80–17.70. Implementation period: 2-3 days.

The alternative is the return of strong “bearish” trend after the breakdown of the level of 17.66. In this case it’s better to open short positions with the target around 17.30. Stop loss is 17.90. Implementation period: 2-3 days.


http://savepic.net/9956490.png

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

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

LiteForex XAU/USD: gold price is going down

Current trend

During the trading session on Wednesday, September, 13, gold prices significantly went down and renewed the lows since the beginning of the month due to the preliminary information that Trumps’ Administration is ready to make public the awaited tax reform. According to unconfirmed reports, the details of the new plan can be disclosed next week.
During the morning session in September, 14, the “bearish” moods prevail. The instrument is pressed by the poor Chinese macroeconomical statistics: Industrial Production in China slowed from +6.4% YoY to +6.0% YoY in August, while the analysts expected the fastening to +6.6% YoY. The growth of Retail Sales fell from +10.4% YoY to +10.1% YoY, which is also worse than expected value of +10.5% YoY.
On Thursday the investors are waiting for the August consumer inflation data in the USA. The traders hope that the statistics will clear the perspectives of further monetary policy tightening.


Support and resistance

On the daily chart Bollinger Bands are reversing into flat. The price range is actively narrowing, reflecting the change of the trend in the short term. It’s better to use channel trading strategy.
MACD is going down, keeping strong sell signal (the histogram is below the signal line). It’s better to keep current short positions, but wait to the clear signals to appear before opening new ones.
Stochastic has reached the limit in the oversold area and reversed into flat. The readings of the indicators reflect the correctional growth appearance in the end of the week. It’s better to close profitable short positions.
Resistance levels: 1325.65, 1334.32, 1343.98, 1350.00, 1357.15.
Support levels: 1316.03, 1307.75, 1300.44, 1291.71.


Trading tips

Long positions can be opened after the reversal around 1316.03. Take profit is 1334.32 or 1343.98. Stop loss is 1312.00. Implementation period: 2-3 days.
Steady breakdown 1316.03 can be a signal to open short positions with the target around 1300.00. Stop loss is 1328.50. Implementation period: 2-3 days.



http://savepic.net/9916665.png

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

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

LiteForex AUD/USD: the pair is showing mixed dynamics

Current trend

Australian dollar moderately grew against USD as a result of trading on Thursday, September 14, moving away from local minimums since September 5. The reason for the growth of AUD was positive data on the Australian labor market in August. The level of employment in August grew by 54.2K workplaces against 29.2K last month. Analysts expected to see a decrease to 15.0K.

More serious growth was prevented by quite stable US currency that receive support from strong consumer inflation data on Thursday. In August CPI grew by 1.9% YoY after growth by 1.7% in July. Experts expected growth to make up 1.8% YoY.

On Friday, September 15, investors expected the release of the data on retail sales and industrial output in the USA at 14:30 and 15:00 (GMT+2) respectively. If this block of data also appears to be better than expected, USD may finish the week with growth.

Support and resistance

On the D1 chart Bollinger Bands have reversed horizontally. The price range remains practically unchanged. MACD is going down preserving a moderate sell signal (being located under the signal line). Stochastic has approached the border of the oversold area and reversed horizontally reacting to growth attempts on Thursday.
Resistance levels: 0.7994, 0.8015, 0.8042, 0.8064, 0.8080.
Support levels: 0.7978, 0.7954, 0.7917, 0.7889, 0.7865.

Trading tips

Long positions may be opened after breaking through the level of 0.8015 with target at 0.8080, 0.8100 and stop-loss at 0.7970. The period of implementation is 2-3 days.
A breakdown of the level of 0.7978 or 0.7954 may be a signal for further sales with target at 0.7889 and stop-loss at 0.8020. The period of implementation is 2-3 days.

http://savepic.net/9899103.png

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

LiteForex EUR/USD: general review

Current trend

On Friday after the release of negative data on retail sales (-0.2%) and industrial output volume (-0.9%) in the USA the price of the pair rose to 1.1985 but then was corrected and is currently trading near the middle line of Bollinger Bands at 1.1940. Currently investors are cautious waiting for the results of the Fed's meeting on Wednesday. Therefore the pair may remain within the range of 1.1920-1.1980 in the near future.

In view of the upcoming meeting of the Fed European statistics is considered less important. Here attention should be paid to the release of final August inflation data from Eurozone. The values of CPI and its basic variant are still far from target levels and make up 1.5% and 1.3% respectively. Business sentiment index by ZEW is due tomorrow. The indicator may grow from 10,0 to 12.5 points for Germany and from 29.3 to 32.4 points for Eurozone. In this case the price will continue to grow to the upper border of the range.

Support and resistance

Technically the pair has tested the middle line of Bollinger Bands around the level of 1.1920 and may soon reach 1.1980. However, serious growth to the levels of 1.2025 and 1.2090 may happen only after the price consolidates above 1.1980. Breaking down the level of 1.1920 (middle line of Bollinger Bands) will open the way for further decrease to the lower line of Bollinger Bands at 1.1855 and further to 1.1800. Technical indicators show growth: MACD histogram is about to move to the positive zone and to form a buy signal, and Stochastic is reversing upwards.
Support levels: 1.1920, 1.1855, 1.1800.
Resistance levels: 1.1980, 1.2025, 1.2090.

Trading tips

Long positions may be opened from the current price with targets at 1.1980, 1.2025 and stop-loss at 1.1920.1.1920.
Short position may be opened in case the price reverses around the level of 1.1980 or breaks down the level of 1.1920 with target at 1.1855 and stop-losses at 1.2010 and 1.1950.


http://savepic.net/9947834.png

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

LiteForex Brent Crude Oil: general review

Current trend

As a result of trading during the previous week the price of Brent oil grew approaching maximums of April 2016. US refineries resume operations after Harvey and Irma storms. Moreover, investors became optimistic after the news about the reduction of drilling activity in the USA. Also Brent continues to receive support from IEA that increased the outlook of global demand for 2017 from 1.5 to 1.6 mln barrels a day.

The trading instrument shows mixed dynamics formed in view of expected Fed's decision on the key interest rate. The demand for high-risk assets dropped. Along with this, according to an OPEC report, the oversupply of oil in the world market is reducing, and soon the cartel and other member states will discuss the extension of the global oil pact.

A key event of the week will be the announcement of the Fed's decision on the monetary policy on Wednesday. Today attention should be paid to API report on the level of oil and petrochemicals stocks in the USA.

Support and resistance

On D1 chart the pair is growing along the upper Bollinger Band. The indicator is directed upwards while the price range has widened indicating the preservation of the upward trend. MACD histogram is in the positive zone, keeping a strong buy signal. Stochastic is about to leave the overbought area.

Support levels: 55.00, 54.30, 53.55, 52.80.
Resistance levels: 55.75, 56.10, 56.65, 57.00.

Trading tips

Long positions may be opened at the current price with target at 56.30 and stop-loss at 54.80. The period of implementation is 1-2 days.
Short positions may be opened from the level of 54.75 with target at 53.95 and stop-loss at 55.05. The period of implementation is 1-2 days.

http://savepic.net/9935401.png

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

LiteForex USD/CHF: the pair is showing mixed dynamics

Current trend

US dollar showed unstable growth against Swiss franc during trading on Tuesday, September 19, having lost the majority of advantages by the closing of the daily session. The reason was the release of uncertain data in the dynamics of housing construction in the USA in August. In turn, franc positively reacted to the strengthening of the business sentiment index and current economic conditions assessment in Germany.

During the morning session on September 20 the pair is showing cautious dynamics connected with the release of final minutes of the Fed's meeting at 20:00 (GMT+2) and the beginning of a follow-up conference at 20:30 (GMT+2). Moreover, a quarterly report by the National Bank of Switzerland is to be released at 15:00 (GMT+2).

Support and resistance

Bollinger Bands on D1 chart demonstrate flat dynamics. The price range remains practically unchanged. MACD indicator is growing but is unable to consolidate above zero.
Stochastic preserves stable downward direction.

Resistance levels: 0.9650, 0.9677, 0.9702, 0.9724.
Support levels: 0.9615, 0.9584, 0.9562, 0.9541.

Trading tips

Long positions may be opened after breaking through the level of 0.9650 with targets at 0.9700, 0.9725 and stop-loss at 0.9610. The period of implementation is 2 days.
Short positions may be opened after breaking through the level of 0.9584 with targets at 0.9520, 0.9500 and stop-loss at 0.9630. The period of implementation is 2-3 days.


http://savepic.net/10026377.png

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

LiteForex EUR/USD: the Fed's balance is reducing, but the interest rate has not changed

Current trend

On Wednesday the pair was rapidly corrected after the Fed decided to start the process of budget cutting in October. Currently the budget of the regulator makes up about $4.47 trln. The market positively reacted to this decision, and the pair dropped to 1.1860. However the tightening of USD may be temporary first of all due to small volumes of reduction. On the first stage of the program the balance is expected to be reduced by $10 bln a month, and the next year the sum will be increased to $20 bln.
However, the issue of interest rate increase was postponed as expected, and it remained on the previous level of 1.25%. According to the follow-up statement recent inflation increase was of temporary nature and had been caused by recent storms, but generally CPI would be below the target level for a long time. To confirm this, the Fed reduced its basic inflation forecast in the current year from 1.7% to 1.5%.

Support and resistance

Technically the pair started upward correction the targets of which may be located at 1.1960 (middle line of Bollinger Bands, Murrey level [4/8]) and 1.2000 (Murrey level [5/8]). Otherwise the price may return to the level of September minimums at 1.1870 (Murrey level [1/8]) and drop below to 1.1840 (Murrey level [0/8]) and 1.1810 (Murrey level [-1/8]).
Support levels: 1.1870, 1.1840, 1.1810.
Resistance levels: 1.1960, 1.2000, 1.2025.

Trading tips

Long positions may be opened from the current price with targets at 1.1960, 1.2000 and stop-loss at 1.1880.
Short positions may be opened below the level of 1.1870 with targets at 11.1840, 1.1810 and stop-loss at 1.1900.

http://savepic.net/9990408.png

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

LiteForex WTI Crude Oil: a week in the side corridor

Current trend

Oil quotes have been in the upward trend for about a month, but this week the price has entered the side corridor of 49.80-50.80. The restoration of the US oil industry after the storms and the growth of reserves (according to API ad EIA reports) put pressure on the prices. On the other hand, the quotes are supported by suggestions of some OPEC members regarding additional 1% cut of production in the framework of OPEC+ agreement, as well as the data on the fulfillment of the agreement in August by 116% against 94% in July.

Today the market is waiting for statements from the meeting of OPEC+ monitoring group. The main agenda item is expected to be the reduction of oil production in Libya and Nigeria. In the evening investors will be waiting for statistics on the number of oil rigs from Baker Hughes. For the last two weeks the indicator has been reducing (from 759 to 749) due to the Atlantic storms that hit Texas and Florida. The continuation of the trend may give considerable support to oil quotes.

Support and resistance

Technically the price has been trading within the corridor of 50.80 (Murrey level [+1/8]) – 49.80 (Fibo correction 61.8%, Murrey level [+1/8]) since the end of the previous week. Its consolidation above 50.80 will open the way for further growth to 56.60 (Fibo correction 74.6%, Murrey level [+2/8]). One may speak about decrease if the lower border of the range at 49.80 is broken down. In this case the price may be corrected to 49.20 (Murrey level [7/8]) and 48.45 (Murrey level [6/8]). Indicator show decrease: MACD histogram is reducing in the positive zone, and Stochastic is directed downwards. However, fundamental factors (OPEC group meeting and the data by Baker Hughes) may give oil prices support therefore upward movement seems more likely.
Support levels: 49.80, 49.20, 48.45, 47.65.
Resistance levels: 50.80, 51.60, 52.00.

Trading tips

In the current situation long positions should be opened above 50.80 with target at 51.60 and stop-loss at 50.40.
Short positions should be opened below 49.80 with targets at 49.20, 48.45 and stop-loss at 50.20.

http://savepic.net/10008935.png

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

LiteForex XAG/USD: Murrey analysis

On the H4 chart the price is trying to return to the horizontal channel 16.99 [3/8] – 17.38 [5/8]. If it succeeds, it may grow to 17.18 [4/8] (resistance, support) and 17.38 [5/8] (upper border of the channel). However, buy positions will become more relevant only after the level of 16.99 is broken out and the price consolidates above the middle line of Bollinger Bands. Long-term consolidation of the price around 16.99 also cannot be excluded. The key level for the "bears" seems to be 16.79 [2/8] (rotation, reversal). The consolidation of the price below this level will open the way for further reduction to 16.40 [0/8] (main support). However, this scenario seems less likely, as Stochastic is reversing upwards, and MACD histogram is reducing in the negative zone.

Support and resistance

Support levels: 16.79 [2/8] (rotation, reversal), 16.60 [1/8] (stop, reversal), 16.40 [0/8] (main support).
Resistance levels: 16.99 [3/8] (bottom of the channel), 17.18 [4/8] (resistance, support), 17.38 [5/8] (top of the channel).

Trading tips

In the current situation buy positions may be opened above the level of 16.99 and the middle line of Bollinger Bands with targets at 17.18, 17.38 and stop-loss at 16.90.
Short positions should be opened if the price consolidates below 16.79 with targets at 16.60, 16.40 and stop-loss at 16.90.


http://savepic.net/10008935.png

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

LiteForex EUR/USD: the market is not satisfied with German election

Current trend

The pair started the week with a fall and by now has dropped to 1.1810. Euro is under pressure due to uncertain results of election to German Bundestag. The CDU/CSU block won and Angela Merkel kept the position of the Chancellor.

On the other hand, US currency is supported by statements by the Fed's members William Dudley and Charles Evans. Dudley, the head of FRB New York, pointed out that the factors that slow down inflation were temporary, and in the medium term it should reach 2.0%, therefore the Fed had to increase the rates. His colleague, President of FRB Chicago Evans, stated that due to low inflation the tightening of the fiscal policy had to be gradual, and the beginning of balance cuts was the most appropriate solution.

During the day the price may continue falling in case of release of positive data on new house sales in the USA (the indicator is expected to increase from 571K to 588K). Moreover, attention should be paid to Janet Yellen's speech "Inflation, Uncertainty, and Monetary Policy" and Lael Brainard's statement on labor market disparities.

Support and resistance

Technically the price dropped below the important level of 1.1840 (Murrey level [0/8]) that it tested in the beginning of September several times but in vain. Downward movement may continue to 1.1780 (Murey level [-2/8]) and 1.1720 (Murrey level [4/8] for D1). Otherwise after the breakout of the level of 1.1840 the price may continue to grow to 1.1930 (middle line of Bollinger Bands, Murrey level [3/8]).
Support levels: 1.1810, 1.1780, 1.1740.
Resistance levels: 1.1840, 1.1900, 1.1930.

Trading tips

Short positions may be opened below 1.1810 with target at 1.1740 and stop-loss at 1.1840.

If the price consolidates above 1.1840, long positions could be opened with targets at 1.1900, 1.1930 and stop-loss at 1.1810.


http://savepic.net/10003247.png

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

Brent Crude Oil: oil prices are growing

Current trend

The price of Brent oil has been rapidly growing for two months. The upward tendency is explained by considerable recent reduction of the rate of the US currency. The quotes are also reacting to a certain reduction of supply in the oil market. This effect may be connected to OPEC+ transaction that might be joined by Nigeria in the near future.

One may notice higher growth rate of oil prices and easy breakthroughs of key resistance levels. Minor correction during the current trading week is explained by the growth of USD rate. Special attention should be paid to the data on oil stock changes according to the US Department of Energy. Also the price may react to key data on the USA including durable goods, labor market, and GDP.

Support and resistance

Technical indicators confirm the possibility of further growth. MACD indicates the growth in the volume of long positions, and the upper line of Bollinger Bands shows the next strong resistance level at 59.20.
Support levels: 57.10, 56.50, 56.20, 55.75, 54.70, 53.50, 51.00.
Resistance levels: 58.25, 58.75, 59.00, 59.20, 60.00, 62.50, 65.00.

Trading tips

In this situation long positions may be opened from the current level with target at 59.20 and stop-loss at 56.20.

http://savepic.net/9970327.png

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

liteForex USD/JPY: the pair is strengthening

Current trend

US dollar showed stable growth during trading against Japanese yen on Wednesday, September 27, marking a new local maximum since July 14. By the end of the trading session yen managed to regain a number of its positions. However, during the morning session on September 28 it is giving in to USD again.

As before, USD is supported by the statement by the Fed's head Janet Yellen. She gave the investors hope for one more increase of the interest rate in 2017. Along with that, the traders failed to receive any detailed data on the future tax reform in the USA yesterday.

On Thursday, September 8, investors will focus their attention on the US statistics on the dynamics of GDP and personal income and expenses in Q2 2017. Interesting statistics from Japan will be released only during Friday Asian session. Namely, it will be releases on the labor market and consumer inflation in August.

Support and resistance

Bollinger Bands in D1 chart demonstrate stable increase. The price range is actively narrowing. MACD indicator is growing preserving a stable buy signal (the histogram is above the signal line). Stochastic shows that the instrument is overbought.
Resistance levels: 113.24, 113.55, 114.00.
Support levels: 112.70, 112.36, 112.00, 111.64.

Trading tips

Long positions may be opened after the breakthrough of the level of 113.24 with target at 114.00 and stop-loss at 112.70. The period of implementation is 2 days.
A reversal near 113.24 with further breakthrough of the level of 112.70 will be a signal for the opening of corrective sales with target at 111.50 and stop-loss at 113.50. The period of implementation is 2-3 days.


http://savepic.net/10014433.png

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

liteForex GBP/USD: a change in trading tendencies

Current trend

Like the most of the majors, the pound changed its direction after rapid growth in the beginning of September and is forming a downward trend.

In the end of September the pair made several attempts to break through the level of 1.3615 after which it dropped down. The reason for the fall was recent comments of the Fed's head about further tightening of the monetary policy and optimistic prospects of the US economy growth in the medium term. In view of this the oversold USD received considerable investor support, and the pound on the contrary was subject to sales. During the recent week and a half the pair is trading within a narrow downward channel breaking through key support levels of 1.3450, 1.3400, 1.3380. USD gained additional support from strong labor market data and increased US economic growth.
Today special attention should be paid to the data on personal expenditure and consumer sentiment index in the USA.

Support and resistance

In the medium term the pair is likely to preserve the downward tendency. In the short term the pair has targets 1.3270, 1.3200. In fact, the pair remains in the long-term upward trend and has moved to the correction stage that may continue to the lower border of the channel at 1.3125. Technical indicators confirm the fall outlook: MACD indicates the growth in the volume of short positions, and Bollinger Bands in the H4 chart have reversed and are directed downwards.

Support levels: 1.3310, 1.3270, 1.3200, 1.3125, 1.3020, 1.3000, 1.2930.
Resistance levels: 1.3380, 1.3400, 1.3450, 1.3480, 1.3515, 1.3615, 1.3690.

Trading tips

In this situation short positions may be opened from the current level with targets at 1.3200, 1.3125. Stop-loss should be placed at the level of 1.3430.

http://savepic.net/9980519.png

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

liteForex XAG/USD: silver prices returned to growth

Current trend

Silver prices updated local minimums since the beginning of August during trading last Friday, October 6, reacting to the release of a mixed report on the US labor market. Despite considerable reduction of the level of unemployment, the report was generally positive, confirming previous outlooks for the growth of the Fed's interest rates. However, the instrument failed to consolidate on new minimums, and by the moment of closing of the daily session the pair moved to the green zone with a considerable “bullish” advantage.
This dynamics was partially explained by the news about North Korea preparing a launch of a new ballistic missile able to reach the western coast of the USA. Moreover, the instrument was supported by technical factors of correction before the weekend.

Support and resistance

Bollinger Bands on the D1 chart demonstrate horizontal reversal. The price range is narrowing. MACD indicator is growing preserving a strong buy signal (MACD histogram is above the signal line). Stochastic shows similar dynamics, quickly approaching maximum values.
Resistance levels: 17.00, 17.20, 17.35, 17.53.
Support levels: 16.87, 16.72, 16.63, 16.50, 16.40.

Trading tips

Long positions may be opened after the outbreak of the level of 17.00 with targets at  17.25, 17.35 and stop-loss at 16.80. The period of implementation is 2-3 days.
Breaking down the level of 16.87 may be a signal for corrective sales with targets at  16.63 or 16.50 and stop-loss at 17.05. The period of implementation is 2-3 days.

http://savepic.net/10117628.png

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

liteForex USD/JPY: the pair is trading within the narrow range

Current trend

US dollar slightly grew against the Japanese yen as a result of trading on Monday, October 9, although “bearish” tendencies dominated through the day. This uncertain dynamics of trading was explained by holidays both in the USA and Japan.
During the morning session on October 10 the pair is trading in the flat and investors wait for new market drivers. Yen receives moderate support  from the statement of the head of the Bank of Japan Haruhiko Kuroda, as well as the release of the balance of external trades. In August the indicator dropped from 566.6 bln to 318.7 bln yen which was better than expected by analysts (264.9 bln yen).

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range remains fixed. MACD indicator is reducing preserving a moderate sell signal (the histogram is below the signal line). Stochastic demonstrates similar dynamics quickly dropping to its minimal values.
Resistance levels: 112.81, 113.24, 113.55, 114.00.
Support levels: 112.19, 111.64, 111.27, 111.00.

Trading tips

Long positions may be opened after breaking through the level of 113.24 with targets at 114.00, 114.30 and stop-loss 112.70. The period of implementation is 2-3 days.
Breaking down levels 112.19, 112.00 may be a signal for the return to sales with target at 111.00 and stop-loss at 112.50, 112.60. The period of implementation is 2-3 days.

http://savepic.net/10140014.png

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

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

liteForex USD/CHF: dollar is under pressure

Current trend

During the trading session on Tuesday, October, 10, the US dollar is strongly going down against Swiss franc and stepped away from the local highs, renewed in the end of the last week. The instrument is falling due to the weak positions of the US currency against the decrease of the US bonds’ yield and anticipation of publication of FOMC Minutes on October, 11. In addition, the traders reacted negatively to the news that Trump’s Administration postponed the implementation of the tax reformation, which had been announced recently.
On the other hand, franc is supported by the strong employment market data publications: the unemployment level in Switzerland decreased from 3.2% to 3.1% in September, which was better than the analysts expected.


Support and resistance

On the daily chart Bollinger Bands are moderately growing. The price range is insignificantly narrowing, reflecting the flat trading mood of the recent days. It’s better to use the channel trading strategy.
MACD is going down, keeping a weak sell signal (the histogram is below the signal line). It’s better to keep opened short positions in the short term, but not to open new ones before additional signals appear.
Stochastic is going down, being in the center of its working area. The indicator’s readings don’t contradict with the development of the “bearish” dynamics in the short or very short term.
Resistance levels: 0.9767, 0.9800, 0.9834.
Support levels: 0.9732, 0.9707, 0.9677, 0.9650.


Trading tips

Long positions can be opened after the breakout of the level of 0.9800. Take profit is 0.9850–0.9880. Stop loss is 0.9760. Implementation period: 2–3 days.
The alternative is the return of the strong “bearish” trend with the breakdown of the level of 0.9732. The targets will be at the levels of 0.9677 or 0.9650. Stop loss is 0.9767. Implementation period: 2-3 days.


http://savepic.net/10121454.png

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

liteForex GBP/USD: pound is growing

Current trend

British currency is moderately growing against the US dollar, renewing the weekly highs due to the increasing pressure on USD. The negative dynamics was supported by FOMC Minutes publication, which decreased the market’s belief in the interest rate rise in the end of 2017.
After the report publication the investors focused on Friday’s US September consumer inflation data. In addition, after the key releases publication, the some Fed’s officials will present their renewed forecasts of the regulators’’ monetary policy development.

Support and resistance

On the daily chart Bollinger Bands are moderately falling. The price range is narrowing actively, reflecting the change of the trend in the short term. The breakout of the resistance levels around the middle line of the instrument can be significant.
MACD has reversed into growing, forming a buy signal (the histogram is above the signal line). The indicator is trying to consolidate above the zero line. It’s better to keep current opened long positions and open new ones in the short or very short term.

Stochastic is moving upwards, but is reaching its highs, which reflects that the instrument is overbought in the short term, and the flay dynamics can appear in the end of the week.

Resistance levels: 1.3290, 1.3327, 1.3400, 1.3454.
Support levels: 1.3218, 1.3148, 1.3110, 1.3042.

Trading tips

Long positions can be opened after the breakout of the level of 1.3290 with the targets at 1.3400–1.3450. Stop loss is 1.3218. Implementation period: 2-3 days.
If the instrument meet a significant resistance around the levels of 1.3290–1.3300, in the end of the week the correctional fall can develop with the rebound to the level of 1.3300. Take profit is 1.3100. Stop loss is 1.3350. Implementation period: 2 days.

http://savepic.net/10128455.png

  • Registered: 2017-09-08
  • Posts: 830

Re: Forex Analysis by LiteForex

liteForex EUR/USD: mixed dynamics in the end of the week

Current trend

During the trading session on Thursday, October, 12, European currency fell against the US dollar, stepping back from the maximum of September, 25. The downward trend is due to the positive US Initial Jobless Claims data and Producer Price Index, which let the investors hope that Friday’s Consumer Price Index will be strong.
On October, 6, the Initial Jobless Claims indicator fell 258K to 243K, while the analysts expected the value of 251K. The Consumer Price Index grew by 0.4% MoM and 2.2% YoY in September, which exceeds the analysts’ expectations of +0.2% MoM and +2.0% YoY.

On Friday, October, at 14:30 (GMT+2) the block of key September statistic of retail sales and consumer inflation will be published in the USA. After FOMC Minutes, published this week earlier, the investors are focused on the price dynamics, as it can affect Fed’s decision upon the interest rate rise.


Support and resistance

On the daily chart Bollinger Bands’ dynamics is flat. The price range is not widening, being quite narrow for the current volatility level. It’s better to use channel trading strategy.

MACD is growing, keeping quite strong buy signal (the histogram is above the signal line) and trying to consolidate above the zero line. It’s possible to keep some of the current long positions in the short term, but not to open new ones.

Stochastic has crossed the level of 80 and reversed into flat, reacting to the “bearish” dynamics on Thursday, October, 12. The indicator reflects that the correctional fall is possible in the short term.
Resistance levels: 1.1860, 1.1878, 1.1909, 1.1950.
Support levels: 1.1820, 1.1800, 1.1755, 1.1730.


Trading tips

Long positions can be opened after the breakout of the level of 1.1860–1.1878 with the target at 1.1950. Stop loss is 1.1820–1.1830. Implementation period: 2-3 days.
The correctional dynamics development and the breakdown of the levels 1.1820–1.1800 can be the signal to open short positions with the target at 1.1700. Stop loss is 1.1850. Implementation period: 2-3 days.


http://savepic.net/10135489.png

Posts: 376 to 400 of 1,210

Pages Previous 1 … 14 15 16 17 18 … 49 Next

You must login or register to post a reply

Forex Software → Market Analysis → Forex Analysis by LiteForex

Similar topics in this forum