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EUR/USD: analysis and forecast Current trend The currency pair EUR/USD has been trading in the narrow range of 1.3700-1.3663 during Christmas holidays in Europe and America. Nevertheless, today, a weekly report on initial claims for unemployment benefits in the US will be released. According to forecasts, this index will drop for the first time in December and will reach the level of 346 thousand, which will strengthen the national currency. Support and resistance In the near future the price is likely to grow up to the upper limit of the range (1.3700); after that the pair may experience correction to the levels of 1.3678 and 1.3663, or even up to 1.3648 (middle line of Bollinger bands). On the four-hour chart technical indicators confirm possibility of ascending movement; the price chart cannot break down the middle line of Bollinger bands, which is a support line. MACD histogram is in the negative zone, its volumes are stable. Stochastic lines are rising. Resistance levels: 1.3700 and 1.3715. Support levels: 1.3678, 1.3663 and 1.3648. Trading tips In the current situation it makes sense to open long positions with profit taking near 1.3700, at the same level pending sell orders can be also opened.
Dmitriy Zolotov Analyst of LiteForex Group of Companies
XAG/USD: technical analysis Current trend Following extended period of downtrend, the pair has ceased its decline. At the beginning of the month the pair reached summer highs at the level of 19.00. This is the key level at the moment, which prevents further decline in the pair. Currently, the pair is trading in the narrow range of 19.20-20.20. Technical indicators show continuation of the sideways movement. Stochastic is slightly above the middle line and is directed sideways. All three moving average lines also indicate flat. Support and resistance Resistance levels are 19.50, 19.80, 20.00 and 20.20.Support levels are 19.15 and 18.90, the latter one is the main target of the “bears”. Trading tips Short positions are recommended below the level of 18.90. Limit sell orders can be placed at the level of 20.50 with the target of 19.00.
Ilya Lashenko Analyst of LiteForex Group of Companies.
Forex: Ichimoku Clouds. Review of GBP/USD GBP/USD, H4 On the four-hour chart Tenkan-sen line is above Kijun-sen, both lines are directed upwards. The pair has broken through the sideways channel and is still growing. Chinkou Span line is above the price chart; current cloud is ascending. The closest support level is Tenkan-sen line (1.6413). One of the previous maximums of Chinkou Span line is expected to be a resistance level at 1.6564.
GBP/USD, H4, D1 Let’s look at the daily chart. Tenkan-sen line is above Kijun-sen, they are both horizontal. Chinkou Span line is above the price chart, current Kumo-cloud is ascending. After small correction the pair has returned to the upward movement. Tenkan-sen line remains the closest support level at 1.6350. One of the previous maximums of Chinkou Span line is expected to be a resistance level at 1.6700.
Key levels Support levels: 1.6350, 1.6413. Resistance levels: 1.6564, 1.6700. Trading tips Both charts confirm the continuation of the Bullish trend. The targets for the long positions are 1.6564 and 1.6700. Anastasiya Glushkova Analyst of LiteForex Group of Companies
USD/CAD: analysis and forecast Current trend At the beginning of the trading week the pair demonstrated uptrend in the sideways channel. However, taking into account Christmas holidays and lack of macro-economic data, we should not expect changes in the exchange rate of the pair. It such case it makes sense to rely on the technical indicators. On the four-hour chart indicators give similar signals, showing further sideways movement. Bollinger bands are horizontal; MACD histogram and the signal line are approaching zero line. Support and resistance /b] Resistance levels are 1.0654 and 1.0680. Support levels 1.0620 and 1.0580. Trading tips Based on technical indicator it is advisable to open sell positions as part of the corrective movement from resistance levels of 1.0654 and 1.0680 with the targets of 1.0620 and 1.0580.
Vadim Smarzh Analyst of LiteForex Group of Companies
Forex: Ichimoku Clouds. Review of USD/CHF USD/CHF, H4 On the four-hour chart Tenkan-sen and Kijun-sen lines have almost merged under the cloud. Chinkou Span line is approaching the price chart from below; current cloud is descending. Last week the pair brake down the cloud, but today it has returned within the cloud’s borders, which become support (0.8916) and resistance(0.8941) levels
USD/CHF, D1 Let’s look at the daily chart. Tenkan-sen line is below Kijun-sen, the blue line is directed downwards, while the red one remains horizontal. Chinkou Span is below the price chart; current cloud is still descending. After a long fall the pair has been corrected above Tenkan-sen line (0.8900), which has become a support level now. The closest resistance level is Kijun-sen line at 0.8975.
Key levels Support levels: 0.8916, 0.8900. Resistance levels: 0.8941, 0.8915. Trading tips On the four-hour chart further movement of the price will be determined by the breakdown of one of the cloud borders. Daily chart shows us a correction of the descending movement, short positions can be opened below the level of 0.8900. Anastasiya Glushkova Analyst of LiteForex Group of Companies
Weekly analytical video review for currency pairs EUR/USD, GBP/USD and USD/JPY 30 Dec 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
Brent: review Current trend Last week crude oil Brent has risen up to the level of 112.59 and after that corrected downwards. Support level was at the level 110.86. Currently investors expect that escalation of conflict in Southern Sudan, which exports about 220 thousand barrels of oil a day, will keep oil prices at a sustainable level. Last week, rebels in the Southern Sudan seized some oil wells and oil workers have been evacuated. In Libya oil production fell up to 230 thousand barrels per day against previous 1.6 million barrels per day. Strikes of the workers have led to the halt of several terminals at the end of July. Strikes in some of oil refineries in France also cause deficit and interruption of oil supplies to the world markets. Support and resistance The nearest resistance level is yesterday’s highs of 112.59, next after it will be the level of 112.95. Support levels are Fibonacci retracement 50% (110.25) and 61.8% (109.70). Trading tips It is likely that Brent will continue to trade in the narrow channel at the boundary of which it is advisable to place limit sell orders at the level of 112.59 and limit buy orders at the level of 110.86.
Andrey Cherkas Analyst of LiteForex Group of Companies
EUR/USD: general analysis Current trend After Christmas holidays the pair EUR/USD has started to fall. Since the beginning of the year Euro has lost more than 200 points. The pair is under pressure of US Dollar strengthening. Today we anticipate fundamental data from USA: Non-manufacturing PMI and Factory Orders are going to be published. According to the forecasts, the indicators may rise and make EUR/USD fall even lower. Support and resistance On the four-hour chart technical indicators confirm the possibility of the fall. Bollinger bands are directed downwards, MACD histogram is in negative zone, its volumes are increasing. Support levels are 1.3580, 1354.40 and 1.3510. The pair will meet resistance at 1.3670, 1.3705 and 1.3740. Trading tips It is recommended to open short positions at current price with targets at 1.3540 and 1.3510.
Vadim Smarzh Analyst of LiteForex Group of Companies
XAU/USD: general analysis Current trend At the opening of the American session gold has broken important resistance level of 1235.00. If the price of the precious metal manages to consolidate at this level, the growth might reach the level of 1270.00. The main reason of decline in gold quotes at the end of 2013 was the decision of the US Fed to reduce quantitative easing programs. In addition, demand for gold in India, which is the main consumer of gold, is decreasing, as the economy of this country is demonstrating signs of regression. Meanwhile, experts give optimistic assessment to potential of gold, expecting that gold will go up. 15 analysts, surveyed by Bloomberg, believe that gold is likely to grow despite the fact that hedge funds managers expect the decline. Support and resistance The nearest resistance level is the local highs of 1232.00. Support level is 1237.00. Trading tips It is recommended to open long positions after breakdown of the level of 1237.00 with protective orders around 1230.00 and a target of 1260.00.
Dmitry Agurbash Analyst of LiteForex Group of Companies
Forex: Ichimoku Clouds. Review of GBP/USD GBP/USD, H4 On the four-hour chart Tenkan-sen line is above Kijun-sen, both lines are horizontal. Chinkou Span line is below the price chart; current cloud is descending. The pair has broken down the cloud and is trying to consolidate below it. The closest resistance level is Senkou Span B line (1.6297). One of the previous minimums of Chinkou Span line is expected to be a support level at 1.6357.
GBP/USD, D1 Let’s look at the daily chart. Tenkan-sen line is above Kijun-sen, they are both horizontal. Chinkou Span line is approaching the price chart from above; current Kumo-cloud is ascending. After long rise the pair has been corrected under Tenkan-sen and Kijun-sen lines, the latter has become a resistance level at 1.6410. The next obstacle for the price on its way down will be the upper border of the cloud at 1.6217.
Key levels Support levels: 1.6357, 1.6217. Resistance levels: 1.6397, 1.6410. Trading tips On the four-hour chart the price has broken down the cloud, forming a signal to sell. On the daily chart the cross of the price chart and Chinkou Span line will be a signal to open short trades. The targets for the sell positions are at the levels of 1.6357 and 1.6217. Anastasiya Glushkova Analyst of LiteForex Group of Companies