LiteForex:XAU/USD: Murray analysis

On the daily chart, the price is trying to grow from the level of 1328.13 ([5/8]), but it is under pressure of the middle line of Bollinger Bands from behind. The key “bullish” level is 1343.75 ([6/8]), the breakout of it will let the price grow to the levels of 1359.38 ([5/8], the upper border of Bollinger Bands) and 1375.00 ([8/8]).
After the consolidation of the price below the level of 1328.13 ([5/8]) it will return within the central Murray channel and can fall to the area of 1312.50 ([4/8], the lower border of Bollinger Bands) and 1296.88 ([5/8]).
Technical indicators do not give a clear signal; Bollinger Bands are reversing downwards, MACD histogram is decreasing in the positive zone. Stochastic has reversed upwards.

Support and resistance

Resistance levels: 1343.75 ([6/8]), 1359.38 ([7/8]), 1375.00 ([8/8]).
Support levels: 1328.13 ([5/8]), 1312.50 ([4/8]), 1296.88 ([3/8]).

Trading tips

Short positions can be opened below the level of 1328.13 or after the reversal at the level of 1343.75 with the targets at 1312.50, 1296.88 and stop loss 1335.00 and 1347.00 correspondingly.
Long positions can be opened above the level of 1343.75 with the targets at 1359.38, 1375.00 and stop loss at 1338.00.

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LiteForex:XAU/USD: Murray analysis

On the daily chart, the price has weakened below the central line of Murray range 1312.50 ([4/8]) and can decrease further to the area of 1296.88 ([5/8], the middle line of Bollinger Bands for W1), which is confirmed by the downward reversal of Bollinger Bands and MACD histogram enter into the negative zone. However, as Stochastic is in the oversold area, the instrument can reverse and enter the correction to the levels of 1328.13 ([5/8], the middle line of Bollinger Bands) and 1343.75 ([6/8], [7/8] for W1).

Support and resistance

Resistance levels: 1312.50 ([4/8]), 1328.13 ([5/8]), 1343.75 ([6/8]).
Support levels: 1296.88 ([3/8]), 1281.25 ([2/8]).

Trading tips

Long positions can be opened above the level of 1312.50 with the targets at 1328.13, 1343.75 and stop loss 1307.00.
Short positions can be opened at the level of 1306.00 with the targets at 1296.88, 1281.25 and stop loss 1312.00.

LiteForex:GBP/USD: general analysis

Current trend

At the beginning of the week, the pair grew and has now reached the level of 1.3885, increased by 0.66%.
The market reacted positively to Friday’s speech of UK Prime Minister Theresa May, who noted that none of the Brexit parties would receive all it wanted, but the deal can be made. She also voices a range of British trading offers, including the implementation of an independent arbitral tribunal on trade disputes to replace European court. UK Markit Services PMI release was strong. In February the indicator grew from 53.0 to 54.5 points.
The further movement depends on Friday’s releases of UK January industrial production data and US February employment market statistics.

Support and resistance

The price is now tending to the key level of 1.3916 (the middle of the Murray trading range [4/8], the middle line of Bollinger Bands for D1. In case if its breakout the instrument can grow to the levels of 1.3977 (Murray [5/8]) and 1.4038 (Murray [6/8]). Otherwise, the correction to the levels of 1.3793 (Murray [2/8], the middle line of Bollinger Bands), 1.3732 (Murray [1/8], the lower border of Bollinger Bands) is possible. However, the growth seems likely, as Bollinger Bands have reversed upwards, and MACD histogram is ready to enter the positive zone and form a buy signal.
Support levels: 1.3855, 1.3793, 1.3732.
Resistance levels: 1.3916, 1.3977, 1.4038.

Trading tips

Long positions can be opened above the level of 1.3916 with the targets at 1.3977, 1.4038 and stop loss 1.3880.
Short positions can be opened after the breakout of the level of 1.3855 with the targets at 1.3793, 1.3732 and stop loss 1.3880.

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LiteForex: EUR/USD: general analysis

Current trend

On Thursday US dollar weakened and reached the level of 1.2410 (+0.58%).
American currency is under pressure of US poor inflation data. In February CPI decreased from 0.5% to 0.2% MoM, and Consumer Price Index Ex Food & Energy fell from 0.3% to 0.2% MoM. The YoY CPI Ex Food & Energy, which determines Fed’s interest rate decision, stayed on the level of 1.8%. All the factors can make the regulator postpone the tightening of monetary policy.
The investors are concerned about the resignation of Secretary of State Rex Tillerson and assignment of Michael Pompeo to this post. The change is possibly made as a preparation for the trading war with China, as Pompeo supports Trump in this question actively. According to Reuters, the US administration is considering the implementation of fees on the Chinese goods amounting around 60 billion USD per year.
Today the pair is in the downward correction after commentaries of Mario Draghi, who again noted that ECB policy would stay the same until the inflation reached the target level. EU Industrial Production data also affected the euro negatively. In January the index went down by 1.0%. Today the market is focused on US Retail Sales release, which is expected to be strong and strengthen USD.

Support and resistance

The price is now tending to the level of 1.2329 (Murray [5/8], the middle line of Bollinger Bands), the breakout of which will let the instrument decrease to the levels of 1.2268 (Murray [5/8]) and 1.2207 (Murray [5/8]). The consolidation of the price above the level of 1.2400 will let the price grow to the area of 1.2451 (Murray [8/8]) and 1.2512 (Murray [+2/8]).
Resistance levels: 1.2400, 1.2451, 1.2512.
Support levels: 1.2329, 1.2268, 1.2207.

Trading tips

Short positions can be opened below the level of 1.2329 with the targets at 1.2268, 1.2207 and stop loss at у 1.2370.
Long positions can be opened above the level of 1.2400 with the targets at 1.2451, 1.2512 and stop loss at 1.2380.

LiteForex: USD/JPY: Murray analysis

On the daily chart, the price is falling towards the strong level of 105.46 ([–1/8]), which it has been testing unsuccessfully during the last year. The consolidation of the price below it can let the price decrease further to the area of 104.68 ([-2/8]) and 103.90 ([-2/8], H4). The key “bullish” level is 106.25 ([0/8], the middle line of Bollinger Bands), the breakout of it will let the instrument grow to the area of 107.80 ([2/8]) 108.60 ([3/8]). Technical indicators reading are mixed. On the one hand, Bollinger Bands confirms the long-term downward trend. However, the decrease of MACD in the negative zone and the strength of the level 105.46 reflect the possibility of reversal and the upward correction of the price. In general, the position should be opened with care.

Support and resistance

Support levels: 105.46 ([–1/8]), 104.68 ([–2/8]), 103.90 ([–2/8], H4).
Resistance levels: 106.25 ([0/8]), 107.80 ([2/8]), 108.60 ([3/8]).

Trading tips

Long positions can be opened after the reversal of the price around of the level 105.46 or above the level of 106.26 with the targets at 107.80, 108.60 and stop loss 105.10 and 105.90 correspondingly.
Short positions can be opened only if the price is set below the level of 105.46 with the targets at 104.68, 103.90 and stop loss at у 105.80.

LiteForex: GBP/USD: general analysis

Current trend

On Monday it was learned that the treaty, regulating the exit of the UK from EU, is mostly negotiated, which supported GBP significantly. The transitional period will last from March 29, 2019, until December 2020. During the period the UK will honor all the treaties and regulations of EU, but would not participate in negotiations and new decision-making. The question upon the Irish border is still open. In general, the European Chief Negotiator Michel Barnier and British Brexit Minister David Davis agreed that the treaty is the decisive step on the way to the end of the civilized process of the countries’ divorce.
However, today’s UK inflation data disappointed the traders. According to Mark Carney’s forecast, the peak of CPI growth was last November, and since that time the index has been decreasing and in February reached the level of 2.7% YoY. Investors suppose that the decrease in the inflation can let the Bank of England postpone the interest rate rise indefinitely. As a result, the pair was corrected from 1.4085 to the level of 1.4010.
On Wednesday, the market is focused on Fed’ meeting. Jerome Powell’s hints that there can be four increasing of the rate instead of three this year can raise the volatility significantly.

Support and resistance

Now the price is tending to the level of 1.3977 (Murray [6/8], the middle line of Bollinger Bands). In case of the breakdown, the price can fall to the levels of 1.3916 (Murray [4/8]) and 1.3855 (Murray [2/8]). However, the reversal and growth to the levels of 1.4100 (Murray [+2/8]) and 1.4160 (Murray [2/8], D1) seem more likely.
Resistance levels: 1.4100, 1.4160.
Support levels: 1.3977, 1.3916, 1.3855.

Trading tips

Long positions can be opened at the level of 1.3977 or 1.4038 with the targets at 1.4100, 1.4160 and stop loss at 1.3950 and 1.4000 correspondingly.
Short positions can be opened after the breakdown of the level 1.3977 with the targets at 1.3916, 1.3855 and stop loss at 1.4010.

LiteForex: GBP/USD: waiting for the BoE meeting

Current trend

Wednesday data from the labor market was strong and supported the pound. In January, the unemployment rate fell to long-term lows at around 4.3%. At the same time, the growth of the average wage (with premiums) to 2.8% (above forecasts) almost caught up with the inflation rate. Thus, the decline in income of British households is coming to an end. This, alongside gradual decline in inflation can create a favorable situation for reducing monetary incentives.
Today investors expect the regulator's decision on the interest rate. Probably, it will remain at the current level of 0.5%, however, in the accompanying statement, there may be hints about its increase (it may happen already in May).
GBP is currently supported by the publication of strong data on retail sales in the UK (in February, it rose by 0.8% MoM and 1.5% (YoY)) and the Fed meeting, which disappointed the market. The US regulator did not make hints of a fourfold increase in the interest rate this year but intend to increase it three times instead of two in 2019.

Support and resistance

The general background for the growth of the pound remains favorable. However, the price moving out of the upper border of Bollinger Bands and Stochastic's approach to the overbought zone do not exclude correction to 1.3950 area (Fibo correction 38.2%, middle Bollinger Bands line). With a positive market reaction to the decision of the BoE, the quotes may rise to 1.4260 and 1.4345.
Support levels: 1.4080, 1.3950.
Resistance levels: 1.4180, 1.4260, 1.4345.

Trading tips

Long positions may be opened from the level of 1.4180 with targets at 1.4260, 1.4345 and stop-loss at 1.4140. Short positions may be opened from the level of 1.4080 with the target at 1.3950 and stop-loss at 1.4120 mark.

LiteForex: GBP/USD: general analysis

Current trend

The pair имеет is trading in different directions. On Monday, the price reached the 2-month highs around 1.4240 but today lost all the gains and was corrected to 1.4100.
Yesterday, GBP was supported by David Davis, who in his interview to BBC claimed that the United Kingdom achieved the perfect conditions for the transfer period, and the deal between the UK and EU will be made for sure, which supported the pound. There will not be a physical border between North Ireland and the Republic of Ireland, and North Ireland will stay in the customs union.
Today USD is strengthening due to the hope that China and USA will develop mutually acceptable trade conditions. Both parties preferred the constructive stance in the negotiations. Washington insists that Beijing should decrease automobile import fees, buy a large number of American semiconductors, and allow foreign investors to own controlling stakes in the financial sector companies’ stocks. In this, China is ready to buy semiconductors made in the USA instead of South Korea and Taiwan, and the new rules of Chinese enterprises’ owning by foreign companies will be ready by May.

Support and resistance

The price reached the level of 1.4100 (Murray [7/8]) and can fall to the levels of 1.4038 (Murray [6/8]) and 1.3977 (Murray [5/8]), which is confirmed by pointed down Stochastic and MACD histogram, decreasing in the positive zone. In case of the breakout of the level of 1.4160, the instrument can grow to the levels of 1.4244 (2-months highs) and 1.4282 (Murray [+2/8]).
Resistance levels: 1.4160, 1.4244, 1.4282.
Support levels: 1.4100, 1.4038, 1.3977.

Trading tips

Short positions can be opened at the current level with the targets at 1.4038, 1.3977 and stop loss near the level of 1.4130.
Long positions can be opened after the breakout of the level 1.4160 with the targets at 1.4244, 1.4282 and stop loss 1.4140.

LiteForex: USD/CAD: general analysis

Current trend

Yesterday, USD strengthened against CAD due to the release of strong US GDP data, which exceeded the investors’ expectations and grew from 2.5% to 2.9%. The visit of the leader of North Korea Kim Jong-un to China supports the US currency, too. The experts consider it as an intention of DPRK to start the dialogue with the world society and with USA via Beijing, in particular. The trade negotiations between the USA and China continue. Trump’s Administration is now reviewing the possibility to restrict Chinese investments in enterprises and technologies, sensitive to the national safety. As a result, the decrease of the US stock market slowed, which, after the rapid fall on Tuesday, affected the dollar positively.
CAD is under additional pressure of the decrease in oil prices and some disagreements of Canada and US relating to NAFTA. The market is waiting for Canadian GDP release at 14:30 (GMT+2), the possibility of the growth of the index restricts the further growth of the pair.

Support and resistance

On the 4-hour chart, the instrument is trading within the upper border and the middle line of Bollinger Bands, the price range is widened, which reflects the possible development of the upward movement. MACD histogram is around the zero line, its volumes are minimal, and the signal line is directed upwards.
Resistance levels: 1.2930, 1.2950, 1.3000, 1.3050, 1.3070, 1.3100, 1.3130.
Support levels: 1.2900, 1.2880, 1.2860, 1.2820, 1.2785.

Trading tips

Long positions can be opened at the current level with the target at 1.3000 and stop loss 1.2880. Implementation period: 1–3 days.
Short positions can be opened at the level of 1.2860 with the target at 1.2800 and stop loss 1.2915. Implementation period: 3–5 days.

LiteForex: NZD/USD: Murray analysis

On D1 chart, the price tested the 0.7200 mark ([6/8]). This level is seen as key for "bears", as unsuccessful attempts to overcome it continue since February.
Currently, the price is growing again, tending to the level of 0.7263 ([7/8], the midline of Bollinger Bands), and at its breakout quotes may reach the levels of 0.7324 ([8/8], the upper border of Bollinger Bands) and 0.7385 ([+1/8]). The probability of growth is confirmed by Stochastic reversing upwards. Continuation of the decline to the levels of 0.7080 ([4/8]) and 0.7019 ([3/8]) will be possible only if the instrument is consolidated below the 0.7200 mark.

Support and resistance

Support levels: 0.7200 ([6/8]), 0.7080 ([4/8]), 0.7019 ([3/8]).
Resistance levels: 0.7263 ([7/8]), 0.7324 ([8/8]), 0.7385 ([+1/8]).

Trading tips

Long positions may be opened above the level of 0.7263 with targets at 0.7324, 0.7385 and stop-loss at 0.7235 mark.
Short positions may be opened from the level of 0.7160 with targets at 0.7080, 0.7019 and stop-loss at 0.7200 mark.

LiteForex: FTSE: technical analysis

FTSE, D1

On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is turning down to retest its longer MA. The Composite is showing similar dynamics.

FTSE, H4

On the 4-hour chart, the instrument is falling from the middle MA of the Bollinger Bands. The price remains just below its moving averages that are directed down. The RSI is about to test from above its longer MA. The Composite is falling as well.

Key levels

Support levels: 6948.0 (local lows), 6915.0 (February lows), 6847.0 (local lows).
Resistance levels: 7072.0 (local highs), 7100.0 (local highs), 7170.0 (local highs).

Trading tips

The price has turned downwards, having failed its short-term descending trendline. The fall is likely to continue.
Short positions can be opened from current prices with targets at 6948.0, 6915.0, 6847.0 and stop-loss at 7035.0.
Long positions can be opened from the level of 7100.0 with the target at 7170.0 and stop-loss at 7072.0.

LiteForex: EUR/USD: general analysis

Current trend

Today the pair continued to grow and exceeded the level of 1.2359 (Murray [5/8], H4).
The USA President Donald Trump tried to calm the market down, saying in his Twitter, that China will make concessions, that intellectual property deal will be made, and a beautiful future expects both of the counties. However, the investors have some doubts, as US Administration is preparing the new list of Chinese goods to be taxed. Chinese authorities have mentioned many times, that they did not want a trading war but will defend government interests to the last.
At the beginning of the week, there was reported that USA-China trade negotiations were deadlocked due to Washington's demand Beijing to stop the subsidizing of the industrial sectors within the program “Made in China 2025”, as there can be used technologies, taken from US companies. Earlier Chinese authorities were ready to decrease US trade deficit by 50 billion through the import of liquefied gas, agricultural product, and luxury items.

Support and resistance

The price is tending to the level of 1.2390 (Murray [3/8]), and in case of the breakout can grow to the levels of 1.2451 (Murray [4/8]) and 1.2512 (Murray [5/8]). However, the area of 1.2390–1.2451 is at the border of the middle term trade range, which reflects the possibility of a reversal and decrease to the levels of 1.2329 (Murray [2/8], the middle line of Bollinger Bands) and 1.2207 (Murray [0/8]).
Resistance levels: 1.2390, 1.2451, 1.2512.
Support levels: 1.2329, 1.2207.

Trading tips

Long positions can be opened above the level of 1.2390 with the targets at 1.2451, 1.2512 and stop loss around 1.2360.
Short positions can be opened after the reversal of the price around the level 1.2390 with the targets at 1.2329, 1.2207 and stop loss around 1.2410.