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Posts: 326 to 350 of 1,210

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

Re: Forex Analysis by LiteForex

Brent Crude Oil: long downward correction

Current trend

Crude oil price still consolidates within a narrow side channel, as the US dollar tendency is still unclear, and also because there is contrast of growing oil reserves in USA and reducing oil reserves in OPEC and major oil exporters. Technically, the price the pair reached the upper border of the upward channel, but it can't break the resistance, lacking catalyzing factors. Consolidation channel is narrowing, and a breakout is highly possible; all we have to do now is determining its direction. Let's consider all pros and contra and decide on the chances of these situations actually happening. At the moment, demand for US dollar is supported only by FRS statements of USA economy having strong perspectives and willingness to hike the rate soon, but economic indicators state the opposite. This means that USA macroeconomic data can influence the dollar price and, accordingly, crude oil prices. This week, attention should be paid to job market data, Markit Services PMI and of course Weekly Crude Oil Stock data.

According to US Department of Energy, oil reserves continue to grow, which surely will influence the price. On the other hand, OPEC and major oil exporters dispel all doubts following the agreement to put freeze on crude oil stocks, and they even cut them. OPEC state that the agreement is very effective for stabilizing the global crude oil market. This agreement keeps the oil price at current high level. But we shouldn't expect fast growth: any violation of agreement or US key interest rate growing, and we'll see the oil quotes falling. This means that price is unlikely to decrease.

Support and resistance
Disregarding the upward trend, long downward correction is highly probable. In short term, short positions could be opened with targets depending on the dynamics: 45.40 if the market is highly volatile, and 47.70 if the market is tranquil. Technically, indicators don't give a clear signal due to low liquidity.

Support levels: 54.70, 53.75, 53.10, 51.95, 49.50, 57.70, 45.40.
Resistance levels: 56.75, 58.50, 60.00, 61.95.

Trading tips
In this situation, short positions could be opened at current level, with short Stop Loss order at 59.20 (above the upper border of the range) — and with targets at 45.40, 47.70.

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

Re: Forex Analysis by LiteForex

NZD/USD: New Zealand dollar under pressure

Current trend

During this week, the pair was decreasing and currently reached its 2-month minimum at the level of 0.7100. Today, the pair is under pressure of the statements of the FOMC’s John Williams and William Dudley. Williams, FRB San Francisco President, stated that at FOMC should pay due attention to increasing the rate at the session in March. Dudley, Head of FRB New York, stated during his interview to CNN that the chances to increase the rates are much higher now. On the other hand, RBNZ President Graeme Wheeler contributed to weakening of the NZ dollar. During his speech in Auckland, he stated that, despite the national economy growth, it's too early to discuss raising interest rates above the current level of 2.0%, and more than that, another decrease might happen. Main domestic risks result from housing market instability, foreign risks result from a possibility of American administration implementing protectionist measures which may as well affect New Zealand.

Support and resistance

Technically, the pair is testing the key level of 0.7100 (Fibonacci retracements — 38.2%), and if it breaks through, it will decrease further to the level of 0.7000 (Fibonacci retracements — 23.6%) and to 0.6900. Indicators agree with this: Bollinger Bands and Stochastics are pointing downwards, MACD histogram went to negative zone. Turning upwards is possible if the price consolidates above 0.7175 (50.0% correction) and middle line of Bollinger Bands. The increase may continue to 0.7245 (61.8% Fibonacci retracements) and 0.7340 (76.4% Fibonacci retracements).

Support levels: 0.7100, 0.7000, 0.6900.
Resistance levels: 0.7175, 0.7245, 0.7340.

Trading tips

In this situation, short positions can be opened if the price consolidates below 0.7100 with take-profits at 0.7000, 0.6900 and Stop loss order at 0.7130. If the price consolidates above 0.7175 and the middle line of Bollinger Bands, long positions could be opened with take-profits at 0.7245, 0.7340 and Stop loss order at 0.7140.

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

Re: Forex Analysis by LiteForex

EUR/USD: general review

Current trend

The EUR/USD pair is corrected after decreasing to 1.0493 as USD gains ground. The main event which will set the further rate dynamics is speeches of US FOMC's members, including Janet Yellen. It is possible that rate correction will continue while the market is waiting for the speeches.  Hawkish comments can lead to another wave of buying the dollar and, consecutively, decrease EUR/USD rate. In addition to FOMC members' speeches, traders will pay attention to Markit PMI data for USA due at 16:00 GMT+2.

Support and resistance

On the 4-hour chart, technical indicators show that the rate is still being corrected. Bollinger Bands are narrowing. MACD histogram is in positive zone, its volume is gradually decreasing, signalling that correction is still going on. If the price consolidates above the upper border of Bollinger Bands (1.0540), this will mean that the upward trend is forming. If the price does not break out the level of 1.0540, the reversal and another testing of 1.0493 is possible.
Support levels: 1.0493, 1.0452, 1.0392.
Resistance levels: 1.0569, 1.0630, 1.0677.

Trading tips

Buy positions may be opened above 1.0569 with Take Profit orders at 1.0630 and stop-loss at 1.0545. Breakdown of the level of 1.0630 will open a way to 1.0453 for the pair.
Sell positions would become relevant below 1.0493 with Take Profit orders at 1.0452, 1.0392 and stop-loss at 1.0523.

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

Re: Forex Analysis by LiteForex

AUD/USD: general analysis

Current trend

As a typical commodity currency, the Australian Dollar was falling against the US Dollar all last week. On Friday, however, following oil and precious metals, it recovered part of the losses and returned to a strong resistance level of 0.7600.
This week investors’ attention is going to be focused on the RBA decision on interest rates that is due to be released on Tuesday. Amid a substantial reduction in the Australian Trade Balance, which was mainly the result of the unfavourable for the export-oriented Australian economy strengthening in the national currency, and negative data on inflation that came out today the regulator, most likely, will keep the interest rate unchanged in order to weaken the AUD. Before the decision is published, however, the pair is likely to continue its upward correction.
Today attention should be paid to data on Factory Orders from the US.

Support and resistance

Support levels: 0.7600, 0.7540, 0.7490, 0.7420.
Resistance levels: 0.7660, 0.7780, 0.7800, 0.7830.

Trading tips

Long positions can be opened from current prices with targets at 0.7660, 0.7780 and stop-loss at 0.7520.
Short positions can be opened from the level of 0.7660 with targets at 0.7600, 0.7540 and stop-loss at 0.7700.

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

Re: Forex Analysis by LiteForex

GBP/USD: general analysis

Current trend

From the last half of the past week the pair is consolidating in the narrow range within 1.2205-1.2300. There is no news or drivers to make the GBP/USD move in any directions in the nearest two days. However, taking into consideration the experts’’ fears about the UK and its economy and the GBP tendency to lower after every upward rebound, the pair will be traded in the narrow channel with the “bearish” dynamics till Friday.

On Friday there are many macroeconomical releases to be published, which can cause high volatility in general and in the GBP/USD movement in particular: Consumer Inflation Expectations and Manufacturing Production data from the UK, the USA Labor Force Participation Rate: in case of strong data in can press the pair significantly.

Support and resistance

On the daily chart the pair is lowering along the lower border of the Bollinger Bands indicator. The indicator is reversing downwards, as the price range is widen greatly, which can reflect the development of the downward trend. The MACD histogram is near the zero line; its volumes are lowering, keeping a sell signal. The Stochastic is ready to leave the oversold area.

During the following two days the pair will be traded within 1.2200-1.2300, so enter the market using Buy limit and Sell limit.

Support levels: 1.2186, 1.2140, 1.2107.
Resistance levels: 1.2261, 1.2328, 1.2371, 1.2418.

Trading scenario

Long positions open at the level of 1.2170 with the target at 1.2260 and stop loss at 1.2140. Implementation period: 1-2 days.
Open short positions at the level of 1.2255 with the target at 1.2185 and stop loss at 1.2285. Implementation period: 1-2 days.

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

Re: Forex Analysis by LiteForex

WTI Crude Oil: general review

Current trend

During today's trading session, WTI Crude Oil price is under pressure, quotes went down to 52.70. The catalysts for the current market situation are expecting oil reserves growth in USA, and also global supply redistribution — despite all attempts by OPEC countries and some other market participants outside the cartel to decrease oil extraction.

China's customs report data showed that demand for carbohydrates is still high in this country. On February, crude oil import set a new record. Daily demand by Chinese consumers is 8.286 million barrels, which is by 3.5% higher than in the last year.

However, this data didn't cause further growth, as American Petroleum Institute report was published yesterday at the end of the day. From this report it is clearly seen that last week, the oil reserves grew by 11.6 million barrels, which is five times higher than expected.

Energy Information Administration's weekly US crude oil reserves data will be released today. According to the forecasts, the reserves will grow by 1.660 million barrels. Judging by Tuesday's data, the indicator can exceed the expectations significantly. In this case, USCrude price is going to decrease.

Support and resistance

On the daily chart of the instrument, we can see strong resistance level of 52.70. The MACD histogram is near zero line and its volume is decreasing, Stochastic is pointing downwards, which gives a buy signal.

Resistance levels: 54.50, 55.70, 57.50.
Support levels: 52.70, 51.30, 50.00.

Trading tips

Short positions could be opened at current level with take-profits at 51.30 and Stop Loss order at 53.20.
Buy positions may be opened after price consolidates above 54.50 with targets at 55.70 and stop-loss at 54.00.
Implementation time: 1-2 days.

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

Re: Forex Analysis by LiteForex

NZD/USD: technical analysis

NZD/USD, D1

On the daily chart, the pair is trading below the lower line of Bollinger Bands and is about to form a sixth close outside of the range. The price remains below its moving averages that are turning down. The RSI keeps falling having entered the oversold zone. The Composite is trying to turn up as it approached its critical levels.

NZD/USD, H4

On the 4-hour chart, the pair is falling along the lower line of Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is trying to turn up in the oversold zone having formed a Bullish divergence with the price. The Composite is showing similar dynamics.

Key levels

Support levels: 0.6860 (December 2016 lows), 0.6815 (September 2007 lows), 0.6750 (February 2016 highs).
Resistance levels: 0.6949 (July 2016 lows), 0.6970 (November 2016 lows), 0.7042 (October 2016 lows).

Trading tips

The price is testing its strong support level in the region of 0.6860. Its breakdown would allow the fall to continue, however, there is a high chance of an upward rebound.

Long positions can be opened after the price rebound from the level of 0.6860 with targets at 0.6949, 0.6970, 0.7042 and stop-loss at 0.6840. Validity – 3-5 days.
Short positions can be opened from the level of 0.6840 with targets at 0.6815, 0.6750 and stop-loss at 0.6860. Validity – 3-5 days.

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

Re: Forex Analysis by LiteForex

USD/CAD: general analysis

Current trend

Yesterday during the trading session the pair continued to grow and reached the maximum of 2017 year, despite the slight weakening of the USD against some of the main currencies such as GBP and EUR due to the weak USA employment market data publication. The Initial Jobless Claims value was higher than expected: 243K against 235K. Yesterday the oil prices were stable, so the CAD price was stable too.
There are a lot of key releases today, which can influence the USD/CAD pair. The Nonfarm Payrolls and the unemployment data are to be published in the USA, and the Canada Unemployment Rate is expected too.

Support and resistance

On the daily chart the pair is growing along the upper border of the Bollinger Bands indicator, the price range is widen, which reflects the development of the upward trend in the middle term.

The MACD gives a signal to open long positions, the signal line has crossed the zero line downwards, and the histogram’s volumes are slightly growing.
Support levels: 1.3485, 1.3430, 1.3370, 1.3320, 1.3245, 1.3185, 1.3095, 1.3000, 1.2915.
Resistance levels: 1.3540, 1.3600.

Trading scenario

Open long positions at the current level with the target at 1.3540, 1.3600 and stop loss at 1.3460.
Open short positions at the level of 1.3430 with the target at 1.3370 and stop loss at 1.3460.
Implementation period: 1-2 days.

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

Re: Forex Analysis by LiteForex

XAU/USD: general review

Current trend

Gold quotes are growing after lingering downward trend caused by strengthening of US dollar. On Friday, US dollar was under pressure of weak data on average earnings in USA. According to the data published, the indicator grew by 0.2%, though analytics expected it to grow by 0.3%. Despite that new Nonfarm Payrolls data appeared to be better than forecasted, this provided no support for US currency. Positive labor market data was already taken into account, as preliminary data from ADP had shown huge growth in employment. Investors focused their attention on weak earnings growth and started locking in the profits for dollar positions. As a result, gold rate grew by 0.33%. Gold quotes grew by 0.20% more within today's trading session.

Support and resistance

Today, gold is testing 1211.06, but can't consolidate above it yet. On the H4 chart, Bollinger Bands converge, predicting continuation of current upward trend. MACD histogram is in negative zone, its volume is decreasing, signalling that there still is growth potential.
Support levels: 1203.81, 1198.45, 1194.83.
Resistance levels: 1211.06, 1216.79, 1220.67.

Trading tips

Buy positions may be opened above 1211.06 with Take Profit orders at 1216.79 and stop-loss at 1209.06.
Sell positions may be opened below 1203.81 with Take Profit orders at 1198.45 and stop-loss at 1205.80.

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

Re: Forex Analysis by LiteForex

CAC: technical analysis

CAC, D1

On the daily chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is falling having formed a Bearish divergence with the price. The Composite is about to test its longer MA, showing similar dynamics.

CAC, H4

On the 4-hour chart, the instrument is correcting down to the lower line of Bollinger Bands. The price remains above the EMA65, EMA130 and SMA200 that are directed up. The RSI is falling having broken down its longer MA. The Composite is showing similar dynamics.

Key levels

Support levels: 4935.5 (local lows), 4922.3 (January highs), 4861.8 (December 2016 highs).
Resistance levels: 5018.8 (local highs), 5089.9 (June 2015 highs), 5202.1 (August 2015 highs).

Trading tips

The price is testing its strong resistance of the end of 2015. There is a chance of a downward correction.
Short positions can be opened from current prices with targets at 4935.5, 4922.3, 4861.8 and stop-loss at 5002.9. Validity – 2-3 days.
Long positions can be opened from the level of 5018.8 with the target at 5089.9 and stop-loss at 5004.8. Validity – 2-3 days.

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

Re: Forex Analysis by LiteForex

AUD/USD: general review

Current trend

Last week, AUD was decreasing due to the positive US economy data and RBA leaving the interest rate unchanged at the its previous minimum level. Yesterday, after FOMC announced the decision to raise the interest rate to 1%, US dollar decreased. J. Yellen, Head of FOMC, confirmed that there should be more interest rate hikes this year, and her evaluation of US economy sounded positive. Nevertheless, US dollar kept falling. AUD/USD grew for more than 150 points rapidly, breaking through two strong resistance levels of 0.7600 and 0.7660, and almost reaching its 4-month maximum. Night data on labor market and inflation in Australia appeared worse than expected, which weakened the pair a bit.
Today, attention should be paid to data on new houses due on 14:30, and PMI index (the outlook is negative).

Support and resistance

Today, the pair will most probably move upwards to the upper border of the D1 chart channel within 0.7800-0.7830.
Support levels: 0.7660, 0.7600, 0.7540, 0.7490, 0.7420.
Resistance levels: 0.7740, 0.7780, 0.7800, 0.7830.

Trading tips

Buy positions with targets at 0.7740, 0.7780 and stop-loss at 0.7650 may be opened at market price.
The alternative scenario is opening short positions at the level of 0.7600 with targets at 0.7540 and stop-loss at 0.7650.

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

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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 was corrected to the middle lint of the Bollinger Bands indicator. The price will move within the sideway channel between upper and lower border of the indicator.

The MACD histogram in near the zero line, its volumes are minimal, the signal line is ready to cross the zero line downwards and give a sell signal.
«The Stochastic» is in the neutral zone, keeping a buy signal; the lines of the indicator are pointed upward.

XAU/USD, H4

On the 4-hour chart the pair is growing along the upper border of the Bollinger Bands indicator. The price tested the resistance level of 1231.30, and the growth slowed down. The price range, formed by the borders of the indicator, is still expanded, so the development of the upward trend is possible.
The MACD histogram is in the positive zone; its volumes are slightly growing. The signal line is crossing the zero line and the histogram’s body, giving a signal to open long positions.
«The Stochastic» is in the neutral zone, keeping a weak sell signal, the lines are pointed downward.

Support and resistance

Support levels: 1215.50, 1195.00, 1179.55, 1149.73, 1122.46.
Resistance levels: 1231.30, 1258.78.

Trading scenario

Open long positions from the level of 1234.00 with the target at 1250.00. Stop loss is at 1226.00. Implementation period: 1-2 days.
Open short positions at the level of 1215.00 with the target at 1195.00 and stop loss at 1223.00. Implementation period: 1-2 days.
Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

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

Re: Forex Analysis by LiteForex

EUR/USD: general analysis

Current trend

The last week was positive for the EUR/USD pair due to the “dovish” FRS mood of the interest rate rise and the positive for the EUR Netherlands Elections result. The growth o the pair slowed in the end of the week due to the traders’ fixing the profit, which presses the price to the level of 1.0700. The pair managed to close above this level, which entrusted the “bulls”. In the beginning of the week the pair is growing and tested the level of 1.0780.
Due to the absence of the significant news from the Eurozone and the USA, the pair will move within 1.0800-1.0600 in the short term and middle term period.

Support and resistance

On the daily chart the pair is growing along the upper border of the Bollinger Bands indicator. The MACD histogram is near the zero line, its volumes are growing, the signal line crosses the zero line upwards, giving a signal to open long positions.
Support levels: 1.0700, 1.0640, 1.0600.
Resistance levels: 1.0780, 1.0800, 1.0825.

Trading scenario

Open long positions at the current price with the target at 1.0800 and stop loss at 1.0720.
Short positions open from the level of 1.0690 with the target at 1.0640 and stop loss at 1.0720.
Implementation period: 1-3 days.

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

Re: Forex Analysis by LiteForex

XAG/USD: technical analysis

XAG/USD, D1

On the daily chart the pair is traded within the middle line and the lower border of the Bollinger Bands indicator, the growth of price slowed. The MACD histogram is in the negative zone, its volumes are minimal, the signal line crosses the zero line downwards, giving a signal to open short positions. The Stochastic is growing towards the border of the neutral zone whit the overbought one, the signal line is pointed upwards, in case of crossing of the border the sell signal will be received.

XAG/USD, H4

On the 4-hour chart the pair is traded sideways within the narrow channel of the Bollinger Bands indicator borders. The MACD histogram is in the positive zone, moving sideways and keeping its volumes at the level of 0.060. The Stochastic is in the neutral zone, giving no clear signal.

Key levels

Support levels: 16.80, 16.20, 15.75, 15.50.
Resistance levels: 17.50, 18.00, 18.50.

Trading scenario

Open short positions at the current price with the target at 16.80. Stop loss is at 17.70. Implementation period: 1-3 days.
Open long positions at the level of 17.70 with the target at 18.50 and stop loss at 17.30. Implementation period: 1-3 days.

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

Re: Forex Analysis by LiteForex

FDAX: Fibonacci analysis

Growth recovery to 12008.0 is expected

On the 4-hour chart the price broke down through the level of 11904.5 (correction by 38.2%) but stopped on the 50% line of the ascending fan. This indicates the possibility of a turn to 12008.0 (correction by 23.6%, middle line of Bollinger Bands) and 12136.0 (the area of March maximums). The possibility of growth is confirmed by Stochastic that is about to leave the oversold zone and to form a buying signal, and by Fibonacci summation series, according to which the fall has been going on for five days. To continue the fall, the price needs to consolidate below 50.0% fan line. In this case the targets of the "bears" will be 11820.0 (correction by 50.0%) and 11737.0 (correction by 61.8%).

The price has been growing on D1 chart for over 90 days, and according Fibonacci summation series may continue to do so. Currently the price has corrected from March maximums to the lower line of Bollinger Bands (12820.0) and may regain growth to 12973.5. In case the price consolidates below it, it may continue decreasing to the levels of 11636.5 (23.6% correction for long-term trend; 76,4% correction for middle-term trend) and 11136.5 (correction 38.2%).

Trading tips

Long positions may be open if the price consolidates over 11904.5 with targets at 12008.0 and 12136.0. Stop-loss order should be placed at 11873.0.

Alternative scenario

Alternatively, if the price consolidates below 50.0% fan line, selling positions may be opened at the level of 11863.0 with targets at 11820.0, 11365.0 and stop-loss at 11890.0.

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

Re: Forex Analysis by LiteForex

XAU/USD: general analysis

Current trend

During the trading session on Wednesday the gold prices grew by 0.38% due to the weakening of the USD. The price met the resistance level of 1251.21 and was slightly corrected. The traders’ activity lowered in expectation of the Head of the FRS Janet Yellen Speech today (14:45 GMT+2). The investors are waiting for the signals about the interest rate rise. If Janet Yellen implies the possibility of the rise on the June meeting, the USD will be significantly supported in the short term, which leads to the lowering the metal prices to the level of 1240.37 and lower. The neutral mood of the commentaries will support the gold prices to grow to the area of 1260.00.

Support and resistance

The technical picture is mixed. The Bollinger Bands indicator is pointed upwards, reflecting the possibility of further growth. The MACD histogram is in the positive zone, its volumes decreasing, reflecting the lowering of the traders’ activity. In case of breakout of the level of 1251.21 the upward trend will develop further.
Support levels: 1244.17, 1237.86, 1230.84.
Resistance levels: 1251.21, 1260.18, 1268.51.

Trading scenario

Open short positions below the level 1244.17 with the target at 1237.86 and stop loss at 1246.17.
Open long positions above the level 1251.21 with the target at в районе 1260.18 and stop loss at 1248.20.

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

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

Re: Forex Analysis by LiteForex

XAG/USD: technical analysis

XAG/USD, D1

On the daily chart, the instrument is trading on the middle MA of Bollinger Bands. The price remains on the level with its moving averages that are horizontal. The RSI is approaching its longer MA. The Composite is testing its strong resistance.

XAG/USD, H4

On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains just above its moving averages that start turning up. The RSI is testing its longer MA from below. The Composite turned up having failed its beginning of the week support. Both indicators are forming a Bearish pattern.

Key levels

Support levels: 17.27 (local lows), 17.20 (50% Fibonacci retracement), 16.80 (March lows).
Resistance levels: 17.73 (local highs), 18.02 (61.8% retracement), 18.38 (February highs).

Trading tips

The price is testing its previous descending trendline that coincides with its moving averages that the middle MA of Bollinger Bands. There is a chance of a downward rebound.

Short positions can be opened from current prices with targets at 17.27, 17.20 and stop-loss at 17.65. Validity – 3-5 days.
Long positions can be opened from the level of 17.73 with targets at 18.02, 18.38 and stop-loss at 17.62. Validity – 3-5 days.

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

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

Re: Forex Analysis by LiteForex

NQ: general analysis

Current trend

In the opening trading session the US indices restores the losses: after reaching the minimum at the level of 5314.3 Nasdaq was corrected and now is trading at the level of 5332.1. The next target is at the 3/8 Murray or 5341.9.

The lowering was due to the cancelling of the health care reformation voting in the USA Congress. The Republicans didn’t come to the agreement upon the necessity of the reformation and postponed the voting for the indefinite period. A lot of investors were disappointed and began to doubt if Trump can provide the actions that he promised during the Evections and get the support of the Congress. On the other hand the USA can partially benefit from the lowering of the USD, as the US goods will become more competitive in the worlds markets, which is quite difficult to imply due to the tightening of the monetary policy.
This week the USA GDP data, which is to be published on Thursday, are worth traders’ attention. The index is expected to be 2%.
On the technical picture the Stochastic is above the level of 20 and reflects the growth of the index.

Support and resistance

Resistance levels: 5341.9.
Support levels: 5314.3.

Trading scenario

Open long positions at the current price with stop loss at 5314.3 and the target at 5341.9.

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

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

Re: Forex Analysis by LiteForex

SPX: Fibonacci analysis

The new lowering to the levels of the March minima is possible.

On the 4-hour chart the price rebounded from the level of the minima of the last two months and tried to be corrected to the middle line of the Bollinger Bands indicator (2342.5). The further movement is unlikely, as the pair should pass the downward fan. The key “bullish” level is at 2350.0 (correction 38.2%), in case of the breakout here the price can grow to the level of 2359.5 (correction 50.0%) and 2369.0 (correction 61.8%). The new lowering to the area of the levels of 2323.0 and 2319.5 (the March minima) seems more likely to develop. However in this case the price should be set below the middle line of the Bollinger Bands and the level of 2338.5 (correction 23.6%). The Stochastic is reversing in the overbought area, which confirms the possibility of the lowering.

On the daily chart the price rebounded from the level of 2318.0 (correction 23.6%) and now is moving to the area of the middle line of the Bollinger Bands (2365.5). The Stochastic has reversed upwards, which confirms the forecast. However the possibility of the lowering is not excluded, as the sequence confirms it. The first target of the movement will be the level of 2318.0 (correction 23.6%), which has been tested before.

Trading scenario

The short positions seems more preferable, but open ones if the price is set below the level of 2338.5 with the target at 2326.0, 2319.5. Stop loss is at 2343.0.

Alternative scenario

Open long positions if the price is set above the level of 2350.0 with the target at 2365.5, 2369.0 and stop loss at 2346.0.
Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

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

Re: Forex Analysis by LiteForex

NZD/USD: technical analysis

NZD/USD, D1

On the daily chart, the pair is trading just above the middle MA of Bollinger Bands. The price remains below its moving averages that start turning down. The RSI is testing its longer MA from above. The Composite is about to test its longer MA as well.

NZD/USD, H4

On the 4-hour chart, the pair is trading in the lower Bollinger band. The price remains just below its moving averages that start turning down. The RSI keeps showing a Bearish dynamics. The Composite, however, is growing and is about to test its longer MA.

Key levels

Support levels: 0.6992 (local lows), 0.6950 (July 2016 lows), 0.6888 (March lows).
Resistance levels: 0.7072 (local highs), 0.7132 (February lows), 0.7188 (local highs).

Trading tips

The price is consolidating in a sideways channel. Positions can be opened after a breakout of one of its borders.
Short positions can be opened from the level of 0.6992 with targets at 0.6950, 0.6888 and stop-loss at 0.7020. Validity – 3-5 days.
Long positions can be opened from the level of 0.7072 with targets at 0.7132, 0.7188 and stop-loss at 0.7048. Validity – 3-5 days.

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

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

Re: Forex Analysis by LiteForex

AUD/USD: general analysis

Current trend

During the last 3 day the AUD/USD pair is growing despite the strengthening of the USD due to the positive commentaries of the USA FRS members Janet Yellen, Steven Kaplan, John Williams and Charles Evans. In addition the USD was supported by the positive fundamental data: Pending Home Sales data (much better than expected) and the Consumer Confidence index (better than expected, renewal of the 5 year maximum). However the pair was supported by the RBA Assist Gov Debelle Speech and the HIA New Home Sales data, so the AUD grew faster than the USD.

Today the USA Gross Domestic Product Annualized data (expected to be neutral), Personal Consumption Expenditures Prices (expected to be neutral) and the Initial Jobless Claims data (expected to be negative)
The pair is expected to grow further.

Support and resistance

Support levels: 0.7660, 0.7600, 0.7540, 0.7490, 0.7420.
Resistance levels: 0.7740, 0.7780, 0.7800, 0.7830.

Trading scenario

Buy the pair at the current price with the target at 0.7740, 0.7780 and stop loss at 0.7580.
Open short positions at the level of 0.7600 with the target at 0.7540 and stop loss at 0.7650.

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

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

Re: Forex Analysis by LiteForex

XAG/USD: general review

Current trend

After active growth during the week silver was corrected yesterday. The price returned to the level of 18.10 that had been successfully broken through a day earlier. The fall happened in view of strengthening of US dollar supported by positive GDP data and statements of FOMC representatives John Williams and Robert Kaplan. It seems  that the negative correlation between US dollar and precious metals started to work again after not so logical dynamics that has been observed from the end of the previous week.

Today the market is waiting for important US releases, namely personal income and expenses data at 14:30 (GMT+2) with a negative outlook, PMI Business Activity Index Chicago at 15:30 (GMT+2) also with a negative forecast, and Consumer Confidence data by the University of Michigan at 16:00 (GMT+2) with a neutral outlook.
Silver is likely to be corrected on the last trading day of the week and month.

Support and resistance

Support levels: 16.70, 17.05, 17.40, 17.75.
Resistance levels: 18.10, 18.45, 19.00.

Trading tips

Short positions may be opened at market price with targets at 17.75 and stop-loss at 18.40.
Alternatively, one may consider buying if the price consolidates above 18.10 with targets at 18.45 and stop-loss at 17.90.

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

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

Re: Forex Analysis by LiteForex

NZD/USD: technical analysis

NZD/USD, D1

On the daily chart, the pair is trading on the middle MA of Bollinger Bands. The price remains below its moving averages that start turning down. The RSI is testing its longer MA from above. The Composite is falling having broken down its longer MA.

NZD/USD, H4

On the 4-hour chart, the pair is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is falling having failed its longer MA. The Composite is approaching its longer MA having failed its most recent resistance.

Key levels

Support levels: 0.6965 (November 2016 lows), 0.6888 (March lows), 0.6875 (December 2016 lows).
Resistance levels: 0.7073 (local highs), 0.7132 (February lows), 0.7188 (local highs).

Trading tips

The pair is testing its short-term descending trendline. There is a high chance of a fall continuation.
Short positions can be opened from current prices with targets at 0.6965, 0.6888, 0.6875 and stop-loss at 0.7017. Validity – 3-5 days.
Long positions can be opened from the level of 0.7073 with targets at 0.7132, 0.7188 and stop-loss at 0.7042. Validity – 3-5 days.

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

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

Re: Forex Analysis by LiteForex

USD/JPY: general review

Current trend

Last week the dynamics of the pair was mainly determined by US dollar. The growth of USD was influenced rather by the rhetorics of FOMC members than be actual fundamental values. As a result, the pair USD/JPY reached the zone of 112.00-112.10. However, it did not manage to break through this level and fell on Friday and Monday despite the growth of USD index. The strengthening of yen was caused by positive data of Japanese labour market and manufacturing industry published on Friday and Tankan Services PMI released yesterday.

No important releases from Japan are due today. US releases today include the data on trading balance at 14:30 (GMT+2) (a positive outlook with reduced deficiency) and manufacturing orders at 16:00 (GMT+2) (negative forecast), and at 22:30 (GMT+2) a statement by FOMC representative Daniel Tarullo.

Due to the absence of important publications from Japan and their small number from the USA, and also in view of the statement of Bank of Japan head Haruhiko Kuroda and publication of the minutes of a meeting of FOMC Open Markets Committee, the pair is likely to have steady dynamics within the range between 110.00-110.50 and 112.00.

Support and resistance

Support levels: 109.25, 107.50, 105.50.
Resistance levels: 109.25, 107.50, 105.50.

Trading tips

Long positions may be opened if the price moves from the level of 110.60 with targets at 112.40 and stop-loss at 109.70.
Alternatively, sell positions may be opened if the price consolidates below 110.60 with targets at 109.25 and stop-loss at 111.40.

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

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

Re: Forex Analysis by LiteForex

USD/CAD: general review

Current trend

In the end of last week, the Canadian Dollar strengthened after a publication of strong data on the GDP for January in Canada that came out significantly better than the forecasts. In addition, oil prices growth that started last week also provides substantial support to the Canadian Dollar. Yesterday, after the publication of data on the Canadian Trade Balance that showed nearly one billion deficit instead of an anticipated surplus, the CAD despite the data strengthened. As the result, the pair fell to a strong support level – the lower border of the previous channel.
Today attention should be paid to data from the US on the ADP Employment Change (2:15 pm GMT+2), the ISM and Markit Services PMI’s (3:45 pm and 4:00 pm GMT+2) and to the FOMC Minutes (8:00 pm GMT+2).

Support and resistance

Support levels: 1.3200, 1.3280, 1.3350.
Resistance levels: 1.3440, 1.3540, 1.3600.

Trading tips

Long positions can be opened from current prices with targets at 1.3440, 1.3540 and stop-loss at 1.3350.
Short positions can be opened from the level of 1.3440 with targets at 1.3350, 1.3280 and stop-loss at 1.3530.    

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

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