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Posts: 226 to 250 of 1,210

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

Re: Forex Analysis by LiteForex

USD/JPY: pair corrected

Current trend

Yesterday the pair slightly corrected up after a significant fall the day earlier when their decisions on interest rates made the Bank of Japan and US Fed.

The Japanese regulator left the rate unchanged while markets expected its further cut into a negative -0.15%. At the same time, the central bank introduced a target for 10-year government bond yields, which it is going to keep around 0%. The US Fed, in its turn, also kept its monetary policy unchanged that matched expectations of the majority of experts.

In addition, the Yen was supported by strong data on the Nikkei Manufacturing PMI that came out today in Japan. In September, the index grew from 49.5 to 50.3 points while economists forecasted a decline to 49.3 points.

Support and resistance

Bollinger Bands on the daily chart is moving down while the price range is widening. MACD is turning up but keeping its previous sell signal yet. Stochastic is leaving the oversold zone with a buy signal.
The indicators recommend long positions.

Support levels: 100.93 (local low), 100.67, 100.00 (psychologically important level), 99.53, 99.00 (24 June low).
Resistance levels: 101.20 (local high), 101.41, 101.73, 102.00 (local high), 102.26, 102.45, 102.78 (local high), 103.00, 103.18, 103.55 (6 September high), 104.00, 104.31 (2 September high), 104.82, 105.59.

Trading tips

Long positions can be opened after the breakout of the level of 101.40 (with the appropriate indicators signals) with targets at 101.94, 102.50 and stop-loss at 101.10. Validity – 2-3 days.
Short positons can be opened after the breakdown of the level of 100.70 with targets at 100.10, 99.85, 99.53 and stop-loss at 101.10. Validity – 2-4 days.

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

Re: Forex Analysis by LiteForex

USD/JPY: review and forecast

Current trend

The pair significantly fell last week amid weakening in the US Dollar after the Fed decided to keep its interest rate unchanged. In addition, commentaries regarding monetary policy showed regulator’s cautiousness when it comes to further rate increases.

This week attention needs to be paid to Bank of Japan Governor Kuroda speech. At its last meeting, the Japanese regulator left the key interest rate at the current -0.1% and the size of the bond purchases at 80 trillion Yen. However, after cautious statements from the Fed, Kuroda could hint about further easing in monetary policy in order to weaken the Yen.

Support and resistance

The pair continues testing a strong support level of 100.00 having failed to leave the descending channel.
On the daily chart, a pattern “inside bar” has formed. MACD histogram is in the negative zone and its volumes are growing. Stochastic is trying to leave the oversold zone.
Support levels: 100.00, 98.90.
Resistance levels: 101.25, 102.20, 103.30.

Trading tips

Pending buy orders can be placed at the level of 100.00 with the target at 103.30 and stop-loss at 99.00.
Short positions can be opened from the level of 98.80 with the target at 98.00 and stop-loss at 99.40.

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

Re: Forex Analysis by LiteForex

AUD/USD: pair is strengthening

Current trend

The pair continues growing amid weakening in the US Dollar, which remains under pressure after quite cautious commentaries from the Fed officials regarding further monetary policy tightening.

In addition, the American currency is pressured by a large number of macroeconomic statistics that is coming out in the US this week, and its forecasts are not very optimistic. Tomorrow, data on Durable Goods Orders is due to be published, while yearly data on the GDP for the second quarter of the year and on Personal Consumption, Personal Income and Spending will be released on Thursday and Friday in the US. Furthermore, Fed’s Yellen will testify tomorrow and Fed’s James Bullard, Charles Evans and Loretta Mester will give their speeches.

Support and resistance

Bollinger Bands on the daily chart is moving horizontally while the price range is narrowing. MACD is growing and giving a quite strong buy signal. Stochastic is trying to leave the overbought zone.
The indicator recommend waiting for clearer trading signals.

Support levels: 0.7655 (local low), 0.7638, 0.7615, 0.7600 (local low), 0.7583, 0.7567, 0.7539, 0.7516, 0.7500 (19 September low), 0.7474, 0.7441 (13 September low).
Resistance levels: 0.7674 (22 September high), 0.7691, 0.7731 (8 September high), 0.7755 (10 August high), 0.7800 (21 April high).

Trading tips

Long positions can be opened after the breakout of the level of 0.7700 (with the appropriate indicators signals) with targets at 0.7731, 0.7755, 0.7800 and stop-loss at 0.7655. Validity – 2-3 days.
Short positions can be opened after the price rebound from the level of 0.7674 with targets at 0.7600, 0.7583, 0.7567 and stop-loss at 0.7720. Validity – 2-4 days.

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

Re: Forex Analysis by LiteForex

USD/JPY: technical analysis

USD/JPY, D1

On the daily chart, the pair is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is about to retest its longer MA. The Composite is growing towards its longer MA as well.

USD/JPY, H4

On the 4-hour chart, the pair is trading on the middle MA of Bollinger Bands. The price remains below its moving averages that are turning down. The RSI is turning down towards its longer MA. The Composite is testing its resistance level.

Key levels

Support levels: 100.09 (local lows), 99.61 (50% Fibonacci retracement), 96.86 (October 2013 lows).
Resistance levels: 102.96 (local highs), 104.14 (September highs), 105.25 (61.8% retracement).

Trading tips

The price is consolidating between its descending trendline and 61.8% fan line and 50% retracement.
Long positions can be opened from the level of 102.96 with targets at 104.14, 105.25 and stop-loss at 102.23. Validity – 3-4 days.
Short positions can be opened from the level of 99.61 with the target at 96.86 and stop-loss at 100.19. Validity – 3-4 days.

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

Re: Forex Analysis by LiteForex

USD/JPY: general review

Current trend

The USD/JPY pair is growing amid a fall in Retail Sales in Japan. The index fell by 1.1% on a month-to-month basis and by 2.1% on a year-over-year basis. Large Retailers’ Sales declined by 3.6% that was significantly worse than a forecasted fall of 1.8%.

Today attention needs to be paid to data on the GDP for the second quarter of the year in the US. According to forecasts, the index will increase by 0.2%, which could support the US Dollar.

Support and resistance

The pair is trying to break out a resistance level at 101.43 that is formed of the moving average with a 100 period.
On the 4-hour chart, the price is trading above the upper line of Bollinger Bands. MACD histogram is about to enter the positive zone. Stochastic reached the overbought zone.
Support levels: 101.20, 100.60, 100.15.
Resistance levels: 101.40, 101.80, 102.30, 102.68, 103.00, 103.50, 114.15.

Trading tips

Long positions can be opened after the price consolidation above the level of 101.40 with targets at 101.80, 102.30 and stop-loss at 101.20. Validity – 1-3 days.
Short positions can be opened from the level of 101.10 with the target at 100.60 and stop-loss at 101.30. Validity – 1-3 days.
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  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

XAU/USD: review and forecast

Current trend

Today the price of gold strengthened amid growing worries on the market.
Anxiety growth was caused by the situation around Deutsche Bank. In September, the US government accused the biggest German investment bank of wrongdoing with the mortgage-back securities. The US Department of Justice can fine the bank $14 billion that lead to its share prices drop of 7% at the opening of the trade. As Deutsche Bank is one of the 29 biggest banks in the world, it problems could affect all financial markets thus investors are switching their funds into safe-havens, such as gold.

Support and resistance

The price is consolidating near the lower border of the ascending channel. Amid low trading volumes, the price is likely to reverse up towards the levels of 1330.00, 1340.00, and 1350.0.
Support levels: 1330.00, 1340.00, 1350.00.
Resistance levels: 1319.53, 1312.00, 1306.40.

Trading tips

Short positions can be opened from the level of 1319.00 with the target at 1312.00 and stop-loss at 1323.00.
Long positions can be opened from the level of 1330.00 with the target at 1340.00 and stop-loss at 1325.00.
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  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

BRENT: technical analysis

BRENT, D1

The instrument is testing the upper border of the Bollinger Bands indicator, which may suggest an attempt of price correction. The indicator is directed upwards while the price range is getting larger. MACD is located near the zero point. Stochastic has moved to the overbought zone and is trying to reverse. If it does so, a signal to sell may be formed.

BRENT, H4

The instrument is trading in the upper band of the indicator on H4 chart while the indicator is directed upwards. MACD is located in the positive zone; its volumes have reached record highs and start decreasing. Stochastic is undergoing correction near a border of the overbought zone. On the whole, indicators suggest that the price may continue dropping smoothly.

Key levels

Support levels: 47.66, 48.22, 48.46, 48.78, 48.95, 49.33, 49.49, 49.72, 49.90, 50.13, 50.37.
Resistance levels: 50.86, 51.04, 51.24.

Trading tips

Short positions can be opened at current price with targets at 49.75, 49.30 and Stop Loss at 50.80. This recommendation would be valid for 1-3 days.
Long positions can be opened from a level of 50.85 with targets of 51.25, 51.50 and Stop Loss at 50.60. This recommendation would be valid for 1-3 days.
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  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

GBP/USD: general review

Current trend

The pair continues falling amid weakening in the Pound after the statement from UK’s Prime Minister Theresa May that the process of county’s departure from the EU will be started in March 2017. In addition, the pair is pressured by growing expectations of an interest rate hike by the American regulator before the end of the year.
This week, extra attention needs to be paid to data on the US labour market. The forecasted growth in the Nonfarm Payrolls to 172 thousand of new jobs could significantly support the Dollar. In the UK, data on the NIESR GDP Estimate is due.

Support and resistance

On the 4-hour chart, the pair is testing the support level at 1.2705.
Bollinger Bands is directed down while the price range slightly narrowed. MACD histogram is in the negative zone and its volumes are stable. Stochastic is growing having left the oversold zone.
The indicators recommend waiting for clearer trading signals.
Support levels: 1.2719, 1.2704, 1.2680, 1.2660.
Resistance levels: 1.2751, 1.2775, 1.2811, 1.2836, 1.2860, 1.2894.

Trading tips

Short positions can be opened from the level of 1.2675 with the target at 1.2600 and stop-loss at 1.2720. Validity – 1-2 days.
Long positions can be opened from the level of 1.2755 with targets at 1.2795, 1.2820 and stop-loss at 1.2680. Validity – 1-2 days.
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  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

EUR/USD: general review

Current trend

The pair continues falling after the ECB statement that the regulator is not planning to terminate its quantitative easing program in the nearest future. In addition, the Euro remains under pressure prior to the publication of the ECB Monetary Policy Meeting Accounts.

At the same time, the American currency was supported by strong macroeconomic statistics that came out in the US. The Manufacturing and Services PMI’s, as well as Factory Orders showed substantial growth in the indices.
This week, extra attention needs to be paid to data on the US labour market that is due on Friday.

Support and resistance

The nearest support level is at 1.1177.
The nearest resistance level is at 1.1243.

Trading tips

Short positions can be opened from the level of 1.1160 with the target at 1.1121 and stop-loss at 1.1205.
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  • Registered: 2015-11-13
  • Posts: 380

Re: Forex Analysis by LiteForex

NZD/USD: review and forecast

Current trend

Last week the pair significantly fell having lost more than 100 points. The NZD was pressured by a 3% drop in prices for milk while the USD was strengthening amid a decline in the number of Initial Jobless Claims in the US.
This week attention needs to be paid to the FOMC Minutes that could provide some clarity about further plans of the regulator on monetary policy in the US. On Friday, data on Retail Sales is due in the US. The index is expected to increase by 0.6% that could provide additional support to the USD.

Support and resistance

On the daily chart, the pair is falling along the lower line of Bollinger Bands. MACD histogram is in the negative zone and its volumes are growing.
Support levels: 0.7100, 0.7000, 0.6935, 0.6820, 0.6740, 0.6670.
Resistance levels: 0.7200, 0.7255, 0.7315, 0.7365, 0.7425, 0.7485.

Trading tips

Short positions can be opened from current prices with targets at 0.7050, 0.7000 and stop-loss at 0.7200. Validity – 2-5 days.
Long positions can be opened from the level of 0.7220 with the target at 0.7300 and stop-loss at 0.7200. Validity – 2-5 days.

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

Re: Forex Analysis by LiteForex

EUR/USD: review and forecast

Current trend

The EUR/USD pair continues falling despite the lack of major macroeconomic data releases. The US Dollar has been strengthening against its counterparts amid expectations that the Federal Reserve will raise interest rates. Market participants are now waiting for the publication of minutes of the Fed September meeting that is due tomorrow at 8:00 pm (GMT+2).

Today strong statistics from Germany has not managed to support the instrument. Nevertheless, it should be noted that assessment of the current situation in Germany grew from 55.1 to 59.5 points in October while the economic sentiment index rose from 0.5 to 6.2 points, the ZEW survey showed.

Support and resistance

Bollinger Bands on the 4-hour chart is directed down suggesting further downward movement in the pair. MACD histogram remains in the negative zone, its volumes are growing and forming a sell signal.
Support levels: 1.1075, 1.1048, 1.1000, 1.0950.
Resistance levels: 1.1115, 1.1156, 1.1206, 1.1236.

Trading tips

Short positions can be opened after the price breaks down and consolidates below the level of 1.1075 with targets at 1.1048, 1.1000 and stop-loss at 1.1100.
Long positions can be opened after the price consolidates above the level of 1.1115 with targets at 1.1156, 1.1206 and stop-loss at 1.1085.

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

Re: Forex Analysis by LiteForex

USD/JPY: technical analysis
USD/JPY, D1
On the daily chart, the pair is trading in the upper Bollinger band. The price remains below the EMA130 and SMA200 that turned horizontal. The RSI is trying to turn up to retest its most recent resistance. The Composite is about to test its longer MA.

USD/JPY, H4

On the 4-hour chart, the pair is trading just above the middle MA of Bollinger Bands. The price remains above its moving averages that are directed up. The RSI is turning up in the Bullish zone above the 50 mark. The Composite is turning up as well.

Key levels

Support levels: 102.84 (local lows), 102.30 (active trade), 101.44 (June lows).
Resistance levels: 104.16 (local highs), 105.30 (61.8% Fibonacci correction), 106.11 (April lows).

Trading tips

The pair broke out its long-term descending trendline. Growth is likely to continue.
Long positions can be opened from the level of 104.16 with targets at 105.30, 106.11 and stop-loss at 103.78. Validity – 3-5 days.
Short positions can be opened from the level of 102.84 with targets at 102.30, 101.44 and stop-loss at 103.16. Validity – 3-5 days.

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

Re: Forex Analysis by LiteForex

USD/CAD: general review

Current trend

The pair continues growing amid falling oil prices. Despite recent statements from a number of the largest exporting countries about upcoming reduction in the production levels, this week the price of Brent crude oil resumed its fall, representing doubts of market participants of the possibility of the production cut from the biggest exporters. In addition, yesterday’s report from the American Petroleum Institute showed a substantial growth in oil reserves in the US that increased pressure on oil prices.
Today attention needs to be paid to data on the EIA Crude Oil Stocks change in the US. A forecasted increase in reserves of 0.65 million barrels could provide additional support to the pair.

Support and resistance

On the daily chart, the price is testing the level of 1.3305. Bollinger Bands is directed up while the price range is widening. MACD histogram is in the positive zone and its volumes are growing. Stochastic is about to enter the overbought zone.
The indicators recommend long positions.
Support levels: 1.3238, 1.3205, 1.3181, 1.3158, 1.3138, 1.3107, 1.3080.
Resistance levels: 1.3259, 1.3280, 1.3304, 1.3223.

Trading tips

Long positions can be opened from the level of 1.3235 with targets at 1.3305, 1.3325 and stop-loss at 1.3205. Validity – 1-2 days.
Short positions can be opened from the level of 1.3200 with targets at 1.3140, 1.3110 and stop-loss at 1.3245. Validity – 1-2 days.

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

Re: Forex Analysis by LiteForex

EUR/USD: review and forecast

Current trend

The Euro against the US Dollar continues trading in the region of 1.1000. Having fallen to the level of 1.0985, the pair corrected up but then resumed its fall and is now aiming to consolidate below the level of 1.0950.
Today the market can be influenced by the publication of data on US retail sales in September. Favorable macroeconomic forecasts suggest strengthening in the US Dollar that will pressure the EUR/USD pair.

Support and resistance

Bollinger Bands is still directed down while the price range is narrowing. The price continues falling from the middle line of the indicator towards the lower one.
Given this data and the projected rise in US retail sales, the price is likely to try to break down the level of 1.0985 and head towards 1.0950.

Support levels: 1.1000, 1.0980, 1.0960, 1.0950, 1.0910, 1.0900, 1.0880, 1.0850, 1.0800, 1.0760, 1.0700, 1.0670.
Resistance levels: 1.1050, 1.1065, 1.1100, 1.1140, 1.1180, 1.1200, 1.1230, 1.1280, 1.1300, 1.1330, 1.1360, 1.1370, 1.1400, 1.1420, 1.1430, 1.1450, 1.1490, 1.1500, 1.1530, 1.1550.

Trading tips

Short positions can be opened from the current level with targets at 1.0985, 1.0950 and stop-loss at 1.1040.
At the same time, the possibility of a price rebound should not be dismissed, thus, pending sell order can be placed at the level of 1.0985 with the target at 1.1040 and stop-loss at 1.0950.

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

Re: Forex Analysis by LiteForex

USD/CAD: general analysis

Current trend

On Wednesday dynamics in the USD/CAD pair was substantially influenced by the Bank of Canada monetary policy meeting results. The US Dollar fell against the Canadian Dollar after the regulator announced its decision to keep the interest rate unchanged. A fall in the pair continued despite data from the US Energy Information Administration, which showed a drop of 5 million barrels in US crude stockpiles. The price then reversed when Stephen Poloz, Bank of Canada Governor, said that further monetary policy easing was discussed policymakers.

Support and resistance

Bollinger Bands on the 4-hour chart is about to turn up while the price range is widening. MACD is growing and keeping a weak buy signal. Stochastic has entered the overbought zone.
The indicators recommend long positions.
Support levels: 1.3154, 1.3136, 1.3116, 1.3103, 1.3059, 1.3037.
Resistance levels: 1.3175, 1.3191, 1.3211, 1.3237, 1.3260.

Trading tips

Long positions can be opened from the level 1.3180 with the target at 1.3240 and stop-loss at 1.3135. Validity – 1-3 days.
Short positions can be opened from the level 1.3155 with the target at 1.3100 and stop-loss at 1.3175. Validity – 1-2 days.

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

Re: Forex Analysis by LiteForex

XAU/USD: general analysis

Current trend

The price of gold is falling amid strengthening in the US Dollar, which is still being supported by expectations of the Fed raising interest rates before the end of this year. In the short term, dynamics in the pair is likely to remain downward as long as a strong US Dollar makes precious metals less attractive assets for investors.
At the end of this week, there are no macroeconomic factors which could influence dynamics of the trading instrument.

Support and resistance

Bollinger Bands on the 4-hour chart is directed horizontally while the price range has narrowed slightly. MACD histogram remains in the positive zone and is keeping a weak sell signal. Stochastic is about to leave the oversold zone and form a strong buy signal.

The indicators recommend long positions, but it is worth waiting for clearer trading signals.
Support levels: 1260.67, 1257.26, 1253.63, 1250.00, 1247.27.
Resistance levels: 1265.66, 1268.61, 1271.56, 1274.06, 1276.33.

Trading tips

Short positions can be opened from the level of 1263.00 with the target at 1258.30 and stop-loss at 1266.70. Validity – 1-2 days.
Long positions can be opened from the level of 1266.30 with targets at 1268.60, 1269.80 and stop-loss at 1264.00. Validity – 1-2 days.

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

Re: Forex Analysis by LiteForex

EUR/USD^ general analysis

Current trend

A double bottom pattern with the support level at 1.0859 has been formed on the hourly chart. The Euro came under pressure when the ECB decided to hold its key interest rates and quantitative easing programme steady. ECB President Mario Draghi said that there had been no discussion regarding the wind-down of the programme in the nearest future.
Today attention needs to be paid to data on the Markit US Manufacturing PMI for October.

Support and resistance

The nearest support level is at 1.0859.
The nearest resistance level is at 1.0911.

Trading tips

Short positions can be opened from the level of 1.0911 with the target at 1.0755 and stop-loss at 1.0955.

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

Re: Forex Analysis by LiteForex

XAU/USD: review and forecast

Current trend

The price of gold remains in a sideway range. During yesterday’s session, the price of gold fell to the level of 1260.38 but buyers managed to hold the important level.

According to experts, god could gain 15% towards the end of the year as markets have already priced in an upcoming interest rate hike in the US. The pace of monetary policy tightening will remain slow which will smooth the pressure from the strengthening Dollar.
This week investors are waiting for data on the US GDP that could give them clues about the state of the American economy and readiness of the Fed to increase interest rate in December.

Support and resistance

The instrument is still trading above the strong support level at 1260.00. In case of a price consolidation above the level of 1274.00, there is a high chance of a growth continuation towards next resistance levels.
On the 4-hour chart, the indicators do not give clear trading signals. Stochastic line are directed down having left the overbought zone. MACD histogram is in the negative zone and its volumes are falling.
Support levels: 1260.00, 1250.00, 1242.00.
Resistance levels: 1274.00, 1285.15, 1300.00.

Trading tips

Long positions can be opened from the level of 1275.00 with the target at 1285.00 and stop-loss at 1270.00.
Short positons can be opened from the level of 1259.00 with targets at 1250.00, 1242.00 and stop-loss at 1265.00.

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

Re: Forex Analysis by LiteForex

GBP/USD: general analysis

Current trend

Ahead of the BoE Governor Mark Carney’s appearance, the pair came under pressure when Philip Hammond, UK Chancellor of the Exchequer, suggested extension of the BoE’s QE program. The pair, however, then recovered almost all it losses amid the speech of the head of the British regulator. Mark Carney expressed concerns over the depreciation of the national currency. A “fairly substantial” fall in the Pound will be taken into account when deciding on interest rates, he said.

Tomorrow particular attention needs to be paid to data on UK’s third-quarter GDP figures. Experts suggest that Britain’s economic growth slowed down from 0.7% to 0.3% that could pressure the Pound. In the afternoon, the American currency, on its part, could gain support amid the publication of strong data on orders for durable goods in the US.

Support and resistance

On the 4-hour chart, the price has not managed to consolidate above the strong resistance level of 1.2210. Bollinger Bands is moving down while the price range has been showing almost no changes. MACD histogram remains in the region of the zero line. Stochastic is approaching the border of the overbought zone.
The indicators recommend waiting for clearer trading signals.
Support levels: 1.2184, 1.2161, 1.2125, 1.2082.
Resistance levels: 1.2210, 1.2244, 1.2259, 1.2283, 1.2310, 1.2330.

Trading tips

Short positions can be opened from the level of 1.2190 with the target at 1.2115 and stop-loss at 1.2230. Validity – 1-2 days.
Long positions can be opened from the level of 1.2250 with the target at 1.2330 and stop-loss at 1.2230. Validity – 2-4 days.

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

Re: Forex Analysis by LiteForex

EUR/USD: general analysis

Current trend
Euro continues to strengthen slightly against the US dollar. To date, the pair is trading near the resistance level 1.0930, if the level is broken, the next target will be 1.0945. Today, a rise in volatility may occur with the opening of the US market, when unemployment claims and orders for durable goods will be published. According to preliminary estimates, the first indicator will drop to 255 thousand, while the second one will increase by 0.1%.
If the data come out better than the forecast, then we should expect the growth of the US currency as good statistics will be the signal for the Fed to increase the interest rate. According to preliminary estimates, the probability of changes in monetary policy at the November meeting does not exceed 50%.

Support and resistance
The nearest resistance level is 1.0930.
The level of support is 1.0911.

Trading tips
Long positions can be opened at level of 1.0930 with stop-losses around 1.0911 and targets at 1.0945.

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

Re: Forex Analysis by LiteForex

AUD/USD: general review

Current trend

The US Dollar continues strengthening against all major rivals amid expectations of market participants of an interest rate hike by the Fed in the nearest future. Today, after the publication of positive data on the Producer Price Index in Australia, the pair rose but did not manage to consolidate above a strong resistance at 0.7600 and resumed its fall.

Today extra attention needs to be paid to data on the US GDP for the third quarter of the year. According to the forecasts of economists, on a year-to-year basis the index will show a 2.5% growth. At the same time, weak data might significantly pressure the US Dollar.

Support and resistance

On the 4-hour chart, the instrument is trading at the lower line of Bollinger Bands while bands are directed horizontally and the price range is widening. MACD histogram is in the negative zone and its volumes are growing. Stochastic is about to leave the oversold zone.
The indicators recommend short positions.
Support levels: 0.7137, 0.7565, 0.7556, 0.7544, 0.7534.
Resistance levels: 0.7597, 0.7607, 0.7622, 0.7643, 0.7652, 0.7668, 0.7679.

Trading tips

Short positions can be opened from the level of 0.7560 with the target at 0.7530 and stop-loss at 0.7576. Validity – 1-2 days.
Long positions can be opened from the level of 0.7575 with target at 0.7610, 0.7630 and stop-loss at 0.7555. Validity – 1-2 days.

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

Re: Forex Analysis by LiteForex

EUR/USD: general analysis

Current trend

On Friday the Euro strengthened substantially against the American currency despite strong data on the US economic growth in the third quarter. The US Dollar came under pressure when it became known that the FBI decided to renew its probe of the US Democratic presidential candidate Hillary Clinton's use of a personal email server.

Today data on the eurozone GDP and consumer prices came out in line with forecasts and had almost no influence on dynamics in the pair.

This week, particular attention needs to be paid to the Fed’s decision on the interest rate, which is announced on Wednesday. Experts suggest that the regulator would keep the rate unchanged at 0.5% this time, but recent favorable macroeconomic statistics have strengthened expectations of monetary policy tightening.

Support and resistance

On the 4-hour chart, the pair rebounded from the strong resistance level of 1.0970. Bollinger Bands is directed up while the price range has widened. MACD remains in the positive zone; its volumes are growing and keeping a buy signal. Stochastic has left the overbought zone.
Support levels: 1.0936, 1.0924, 1.0913, 1.0900, 1.0883, 1.0870, 1.0859.
Resistance levels: 1.0955, 1.0969, 1.0978, 1.0987, 1.1001.

Trading tips

Short positions can be opened from the level of 1.0940 with targets at 1.0900, 1.0890 and stop-loss at 1.0955. Validity – 1-2 days.
Long positions can be opened from the level of 1.0960 with the target at 1.0985 and stop-loss at 1.0945. Validity – 1-2 days.

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

Re: Forex Analysis by LiteForex

GBP/USD: general review

Current trend
The pair GBP/USD continues to move in a sideways channel of 1.2150-1.2250. In recent days the tool has reached the upper border of the channel, but by the morning of November 1st growth slowed down, and soon we can expect the correction of the upward movement.
The main event in the economic calendar today is the news from the US at 17:00 (GMT+2). Experts predict a rise in the acceleration index of inflation to 52 points, and the growth in index of business activity in the manufacturing sector to 51.7 points. These data are positive for the US economy and will most probably strengthen the US currency.

Support and resistance
On the four-hour chart the price is at the upper line of Bollinger bands, the bands themselves begin to expand. In this case, the correction to the middle line of the indicator is most likely, but the continuation of the uptrend is also possible.
Resistance levels: 1.2250, 1.2320, 1.2350, 1.2400, 1.2450.
Support levels: 1.2210, 1.2200, 1.2190, 1.2135, 1.2100.

Trading tips
It is recommended to open long positions at the current price with the target at the level of 1.2200 and a stop-loss at 1.2280. BUY STOP orders should be placed at the level of 1.2280 with the aim of 1.2320 and stop-loss of 1.2250.

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

Re: Forex Analysis by LiteForex

XAU/USD: general analysis

Current trend

The price of gold continues growing slightly. The precious metal gained support after the recent poll found that Donald Trump ahead of Hillary Clinton in the US presidential race. A Trump victory would mean a weaker dollar that is aimed at increasing the competitiveness of US goods at the global market.
The Fed announces its decision on the interest rate today and is widely expected to keep it unchanged due to the proximity to the presidential election. However, it should be noted that the US economy was showing strength, thus, monetary policy tightening could follow in the near future.

Support and resistance

The nearest support level is at 1283.89.
The nearest resistance level is at 1307.60.

Trading tips

Short positions can be opened from the current level with the target at 1283.89 and stop-loss at 1307.60.

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

Re: Forex Analysis by LiteForex

XAU/USD: technical analysis

XAU/USD, D1
On the daily chart the pair is testing the support level of 1292.00. The indicator "Bollinger Bands" is moving sideways, while the price range significantly expanded, indicating a continuation of the current trend. Histogram MACD is near zero line, its volumes start to grow, forming a weak buy signal. Stochastic is approaching to the border of the overbought area.

XAU/USD, H4
On the 4-hour chart the pair is trading in the upper Bollinger band. Indicator’s lines are moving upwards, while the price range has increased, pointing to the preservation of the current trend. The MACD histogram is close to its peak in the positive zone, its volumes continue to grow, maintaining a buy signal. Stochastic is close to the oversold area.

Key levels
Support levels: 1241.11, 1245.96, 1256.80, 12.6181, 1267.31, 1271.84, 1282.68, 1288.21.
Resistance Levels: 1296.51, 1303.20, 1308.02, 1313.91, 1318.99, 1328.36.

Trading tips
Long positions can be opened at the level of 1300.00 with the targets at 1308.00, 1311.20 and stop loss at the level of 1293.00. Implementation period – 1 day.
Short positions should be opened at the current price with the targets of 1286.50, 1278.70 and stop loss at the level of 1296.55. Implementation period – 1-2 days.

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