LiteForex Analytics - page 21
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
EUR/USD: the pair will be stuck within the sideways channel Current trend Following the meeting of the US Fed last week, the pair sharply dropped in price. Although the dates have not been specified, but even the feeble hint about curtailing of the quantitative easing programs has prompted investors to close long positions. Many analysts believe that sharp decline was also triggered by the fact that the pair is overbought. Today, during the Asian session, the pair EUR/USD fell to the level of 1.3440, then returned to the previous level and is now trading below the level of 1.3500. Support and resistance The nearest support level is 1.3450; next support levels are 1.3420 and 1.3400. The level of 1.3420 is the main target of the bears. Resistance levels: 1.3500, 1.3550 and 1.3575. Trading tips It is likely that the pair will trade in the sideways narrow channel, at the border of which pending orders can be placed. Limit sell orders are recommended at the level of 1.3510, buy orders at the level of 1.3450. Do not forget about stop-loss orders.
Ilya Lashenko Analyst of LiteForex Group of Companies
Weekly analytical video review for currency pairs EUR/USD, GBP/USD and USD/JPY 4-8.11.2013
Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands). Daily reviews and forecast are available at LiteForex site Forex Trading : Top Forex Broker : LiteForex
GBP/USD: the pair has downside potential Current trend Last week the pair repeatedly tried to break down strong resistance level of 1.6060, which coincides with the level of 23.6% Fibonacci. Following unsuccessful attempts to go up, the pair GBP/USD fell to the level of 1.5900 and corrected to 1.5970. It is likely that the pair will try to break down the level of 1.6000, however more probable that the pair will fall to 1.5900 or even down to 1.5750. Support and resistance The nearest support level is 1.5940, next support levels are 1.5900 и 1.5850. The level of 1.5900 is the main target of the “bears”. Resistance levels: 1.6000 and 1.6050. Trading tips Short positions are recommended after breaking down of the level of 1.5900. In case of correction it makes sense to place limit sell orders at the levels of 1.6000 and 1.6050.
Ilya Lashenko Analyst of LiteForex Group of Companies.
Forex: Ichimoku Clouds. Review of USD/CHF USD/CHF, H4 Onthefour-hourchartTenkan-senline is aboveKijun-senand they are both horizontal, indicating the slowdown of the upward trend. ChinkouSpanis above the price chart; current cloud is ascending. After long rise the pair has been corrected under Tenkan-sen line, which becomes a resistance level at 0.9122. Kijun-sen line is the closest support level at 0.9052.
USD/CHF, H4, D1 Let’s look at the daily chart.Tenkan-sen line is belowKijun-sen line, however the price chart has broken through both lines and consolidated above them.ChinkouSpanline hascrossed the price chart from below; current cloud is descending.Kijun-sen (0.9033) line is the closest support level. The next obstacle for the price on its way up will be the lower border of the cloud at 0.9222.
Key levels Support levels: 0.9052, 0.9033. Resistance levels: 0.9122, 0.9222. Trading tips On thefour-hour chart we can see a small correction as apart of the upward trend. On the daily chart we’ve got a signal to buy from the cross of Chinkou Span line and the price chart. Target for the long positions is 0.9222. Anastasiya Glushkova Analyst of LiteForex Group of Companies
EUR/USD: general analysis Current trend Once again the pair EUR/USD has pushed off from the local lows of 1.3448 and rushed to resistance level of 1.3500. The price on the hourly chart has crossed Moving Average with period 50, confirming a chance of further growth. Fundamental indicators are mixed. Due to weak macro-economic indices in EU, soft monetary policy will be continued, especially because inflation is below 2%. According to the head of ECB, European economy is slowly coming out of the debt crisis, however in order to restore confidence in the banking system it is necessary to conduct stress-tests for banks. Integration of the banking system will also help to reduce the difference in interest rates within EU. Important data, scheduled for the release today is: sales index in EU and industrial orders in Germany. If statistics meets favourable forecasts, Euro shall strengthen. Support and resistance The nearest resistance level on the daily chart is 1.3500. Support to the price is provided by the level of 1.3448. Trading tips It is recommended to open long positions after breakdown of the level of 1.3515 with the target of 1.3630 and stop-loss orders near 1.3490.
Dmitry Agurbash Analysts of LiteForex Group of Companies
USD/JPY: USD is providing support to the pair Current trend The pair USD/JPY is going up due to the growing USD. Yesterday positive US statistics was released. It became known that business activity index in the non-manufacturing sector rose from September’s level of 54.4 up to 55.5 points. Investors hope that US Fed will launch curtailing of quantitative easing programs in the near future. At the moment the growth in the pair is restricted only by technical profit taking of the “bulls”. Support and resistance The nearest resistance level is yesterday’s highs of 98.68. When this level is broken down, the pair will test the highs of last Friday at the level of 98.85. Next resistance levels - are the highs of September: 99.13 and 99.66. Support level is 98.15 (yesterday’s lows), next support levels are the lows of October: 97.80 and 96.93. Trading tips It is recommended to open long positions after breakdown of the level of 98.68 with partial profit taking at the level of 98.85 and a target of 99.13. Protective orders can be placed at the level of 98.15.
Andrey Cherkas Analyst of LiteForex Group of Companies
GBP/USD: high volatility is expected Current trend Following rapid growth the pair GBP/USD has calmed down and consolidated at the level of 1.6100. Today’s sideways correction is the lull before the storm. Volatility will sharply go up after the announcement of the interest rate and volume of quantitative easing by the Bank of England. The data on the US GDP and labour market will be also released today. The decline of the gross domestic product by 0.5-0.6% will not be a surprise, while number of applications for unemployment rate is expected to reduce to 332 thousand. Support and resistance It is likely that negative US statistics will trigger the decline in the USD rate and the pair GBP/USD will get additional support. However, the rise in the GBP will be limited by resistance level of 1.6260 (recent local lows). In the medium-term the pair can reach the highs of 1.6260 and after that will go down to support levels of 1.5920 and 1.5880. Indicators: MACD and Bollinger Bands confirm the forecast of downtrend. Despite increasing volumes, MACD histogram is still below the signal line. The price has pushed off from the average line of Bollinger bands and started to decline to its bottom line (1.5880). Support levels: 1.6100, 1.6200 and 1.6260. Resistance levels: 1.5920, 1.5750 and 1.5550. Trading tips In the current situation it is advisable to place short positions with profit taking at the level of 1.5750. Pending sell orders can be placed at the levels of 1.6200 and 1.6260.
Dmitry Likhachev Analyst of LiteForex Group of Companies
Forex: Ichimoku Clouds. Review of XAU/USD XAU/USD, H4 Let’s look at the four-hour chart. Tenkan-sen and Kijun-sen lines are getting closer and soon going to form a reversal pattern. Chinkou Span line is approaching the price chart from below, current Kumo is still descending. Aftre long fall the pair is consolidating around Tenkan-sen and Kijun-sen lines. The closest resistance level is the lower border of the cloud at 1335.74. Support level is expected to be at 1309.26 (previous lows of Chinkou Span line).
XAU/USD, D1 On the daily chart Tenkan-sen line is above Kijun-sen, and they are both horizontal. Chinkou Span line is crossing the price chart from below, current cloud is descending. The pair weren’t able to break through the cloud and has pulled back under the red line. Tenkan-sen (1333.72) and Kijun-sen (1306.49) lines become resistance and support levels respectively.
Key levels Support levels: 1309.26, 1306.49. Resistance levels: 1333.72, 1335.74. Trading tips On the four-hour chart the pair is trading sideways. The signal to open long trades will be the cross of the price chart and Chinkou Span line. On the daily chart further movement of the price will be determined by the breakdown of one of the levels: Tenkan-sen or Kijun-sen. Anastasiya Glushkova Analyst of LiteForex Group of Companies
USD/CAD: general analysis Current trend Yesterday the price of the pair USD/CAD significantly went up due to the rise in the USD. Following several unsuccessful attempts to break down resistance level of 1.0462 the pair consolidated near the level of 1.0450. MACD histogram is in the positive zone, indicating continuation of the uptrend. Macroeconomic background suggests similar outlook. Canadian labour statistics will be released today. Experts believe that unemployment rate can increase, which will inevitably cause the rise in the pair. Support and resistance The nearest resistance level on the daily chart is 1.0462, next resistance level is the local highs of 1.0497. The main targets of the “bulls” are 1.0520 and 1.0568. Support levels are 1.0397, 1.0365, 1.0336 and 1.0270. Trading tips It is recommended to open long positions after breakdown of the level of 1.0462 with the target at 1.0497 and stop-loss orders around 1.0425.
Andrey Cherkas Analyst of LiteForex Group of Companies
EUR/USD: free fall of European currency Current trend At the end of last week the pair fell for more than 300 points amid expectations of decline in the interest rate by ECB. Yesterday investors’ premonitions were confirmed, as ECB has lowered interest rate up to 0.25%. Additional pressure on the pair was caused by the data on US GDP. This index went up to the level of 2.8% despite negative forecast. All these factors triggered the fall in the pair up to the level of 1.3300; however by the end of the trading day the pair has regained part of the losses and reached the level of 1.3410. Statistics on the US labour market, which will be released today, is expected to be negative. This data can provide temporary and insignificant support to the pair. Support and resistance /b] In the medium-term the pair will continue to decline; the first target of the “bears” is support level of 1.3300 (50% Fibonacci). MACD and Ichimoku indicators confirm the forecast of downtrend. MACD histogram has moved to the negative zone and is still below the signal line. The line Tenkan has crossed Kijun from top to bottom, forming a sell signal “Dead cross” Support levels: 1.3300, 1.3210 and 1.3100. Resistance levels: 1.3410, 1.3600 and 1.3830. Trading tips In the current situation it is advisable to place short positions with profit taking at the level of 1.3210.
Dmitry Likhachev Analyst of LiteForex Group of Companies