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Forex: Ichimoku Clouds. Обзор NZD/CHF NZD/CHF, H4 On the four-hour chart Tenkan-sen line is above Kijun-sen, both lines are horizontal. Chinkou Span line is above the price chart, current cloud is ascending. After strong rise the pair has been corrected under Tenkan-sen line, which is now a resistance level (0.8672). The closest support level is Kijun-sen line (0.8614).
NZD/CHF, 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 cloud is ascending. However, downward correction wasn’t long enough and Tenkan-sen line is still a support level (0.8599). One of the previous maximums of Chinkou Span line is expected to be a resistance level at 0.879.
Key levels Support levels: 0.8614, 0.8599. Resistance levels: 0.8672, 0.8790. Trading tips On the four-hour chart we can see a correction of the upward movement, although daily chart confirms the Bullish trend. Targets for the long positions are 0.8672 and 0.8790. Anastasiya Glushkova Analyst of LiteForex Group of Companies
EUR/JPY: technical analysis Current trend Throughout last week “bearish” trend dominated except minor rise on Monday. The pair had reached local highs of 1.3875, and then started to decline, reaching the lows of 1.3704 at the end of the week.Today, preliminary consumer price index in Eurozone has become known. The index was below the forecast, which caused slight decline in the pair. It is worth noting that some important events are going to happen this week: ECB will determine interest rate and US data on jobs outside agricultural sector will made public. Technical indicators show that downward movement can continue. Support and resistance Resistance levels: 1.3765, 1.3800, 1.3835 and 1.3875.Tthe main target of the “bulls” is breakout of the level of 1.3800 and consolidation above this level. Support levels are 1.3735, 1.3700 and 1.3675. Trading tips It is recommended to open long positions above the level of 1.3800 with the target of 1.3875. It also makes sense place limit sell orders at the level of 1.3875.
Ilya Lashenko Analyst of LiteForex Group of Companies
Weekly analytical video review for currency pairs EUR/USD, GBP/USD and USD/JPY 31 March - 4 April 2014
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
USD/JPY: general analysis Current trend The pair USD/JPY is trading at the top limit of the trading channel at the level of 103.44. If this level is broken out in the near future, the Yen will resume the decline. It seems that monetary policy of the Japanese Central Bank, aimed to fight off deflation and high exchange rate of the national currency is successful. According to the latest data, unemployment in Japan continues to reduce breaking new records: The rate fell to 3.6%. Consumer prices are also improving. In February CPI excluding food and energy has reached 0.8% against 0.7% in January. If US Fed raises interest rate in the nearest time, the Yen will continue to drop in price, as interest rates in two countries differs significantly, making the USD more attractive for investments. Support and resistance The nearest resistance level is the upper limit of the trading channel (103.44). Support level is 102.25 (moving average with the period 200). Trading tips It is advisable to place long positions after breakdown of the level of 103.44 with stop loss at 103.15 and a target of 104.20.
Dmitriy Agurbash Analyst of LiteForex Group of Companies
GBP/USD: Speech by Janet Yellen did not provide support to USD “bulls” Current trend On Monday morning the pair slightly declined amid negative data on British mortgage lending: number of approved applications reduced by over 6 thousand. However at the opening of American session the pair went up, breaking down key resistance level of 1.6660. Purchasing manager index in the US fell to the level of 55.9 points against the forecast of 59.2 points. Additional pressure on the USD was caused by the speech of Janet Yellen. The head of the US Fed noted that despite unfavourable economic situation in the USA, reduction in volume of assets purchase will continue. British statistics, released earlier today, was weak. Manufacturing PMI fell to 55.3 points, failing to confirm the forecast of 56.7 points. The US data on construction sector and business activity index in manufacturing sector will become known later today. Support and resistance The main catalyst of movement this week will be the release of Non-Farm Payrolls. According to statistic agencies, this index is going to be positive. Meanwhile, GBP/USD continues to trade in the wide uptrend. Support levels: 1.6660, 1.6600, 1.6550, 1.6470 and 1.6400. Resistance levels: 1.6700, 1.6770, 1.6810 and 1.6900. Trading tips It is recommended to open buy positions with profit taking at the level of 1.6810. Pending buy orders can be placed from the level of 1.6000 with profit taking at the level of 1.6810.
Dmitry Likhachev Analyst of LiteForex Group of Companies
Forex: Ichimoku Clouds. Review of USD/CAD USD/CAD, H4 On the four-hour chart Tenkan-sen and Kijun-sen lines are getting closer under the cloud prior to the trend reversal pattern formation. Chinkou Span line is below the price chart; current cloud is descending. Tenkan-sen line is the closest resistance level (1.1039). One of the previous minimums of Chinkou Span line is expected to be a support level at 1.1007.
USD/CAD, D1 On the daily chart we can seen an invert image. Tenkan-sen and Kijun-sen lines are getting above the cloud and going to form a signal to sell. Meanwhile the price chart has entered an ascending cloud; Chinkou Span line is below the price chart. Senkou Span A (1.1058) line is the closest resistance level. The lower border of the cloud will be a support level at 1.0898.
Key levels Support levels: 1.1007, 1.0898. Resistance levels: 1.1039, 1.1058. Trading tips On the four-hour chart we can see a correction of the downward movement, although daily chart confirms the Bearish trend. Targets for the short positions are 1.1007 and 1.0898. Anastasiya Glushkova Analyst of LiteForex Group of Companies
GBP/USD: Pound takes a break Current trend This Tuesday the pair was trading with low volatility due to the weak stats from both countries. In USA fundamental data from construction sector and PMI had been lower than predicted. UK had answered with the lowering of Manufacturing PMI to the level of 55.3 points. Now the pair is trading below key resistance level of 1.6660, pound is under pressure of another weak stats from UK. United States will publish ADP Employment Change and Factory Orders, which can strengthen Dollar for a while. We wouldn't expect this effect to last long because of the Janet Yellen's comment. The head of FRS stated the decline of economic growth. Support and resistance We expect slow rise up to the level of 1.6810, however the pair will need strong impetus. Support levels: 1.6600, 1.6550, 1.6470, 1.6400. Resistance levels: 1.6660, 1.6700, 1.6760, 1.6810, 1.6900. Trading tips Pending buy orders can be placed at 1.6600 with take-profits at 1.6800.
Dmitry Likhachev Analyst of LiteForex Group of Companies
Forex: Ichimoku Clouds. Review of AUD/USD AUD/USD, H4 Let’s look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from above, forming trend reversal pattern. Chinkou Span line has crossed the price chart from above; current cloud is ascending. Under the pressure of the Dead Cross the price has broken through Kijun-sen and Tenkan-sen lines, the latter becomes a resistance level at 0.9234. The nest obstacle for the price on its way down will be the upper border of the cloud at 0.9212.
AUD/USD, D1 On the daily chart Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Chinkou Span line is above the price chart; current cloud is ascending. Tenkan-sen line (0.9176) is the closest support level. One of the previous maximums of Chinkou Span line is expected to be a resistance level at 0.9428.
Key levels Support levels: 0.9212, 0.9176. Resistance levels: 0.9234, 0.9428. Trading tips On the four-hour chart we’ve got a signal to sell, however on the daily chart this movement is a mere correction. Target for the short-term sales is 0.9212. Anastasiya Glushkova Analyst of LiteForex Group of Companies
EUR/USD: analysis and forecast Current trend Yesterday morning the pair went up to resistance level of 1.3820, which was strong enough to prevent the rise in EUR/USD. The pair had rebounded from this level and by the end of the day reached the level of 1.3750. Many investors started to close long positions because of rumors that ECB has not made clear decisions about future monetary policy. Probability of currency intervention by ECB is low as it can suspend deflation. It is likely that interest rate and incentive program will remain unchanged. However, sooner or later Draghi will have to introduce measures to reduce exchange rate of Euro. Today’s meeting of the European Central Bank and tomorrow’s data on NFPR, USA will help market to determine short term movement direction. Support and resistance At the moment the pair is trading near the level of 1.3765. Support levels: 1.3750, 1.3735, 1.3720, 1.3700. Resistance levels: 1.3780, 1.3800 and 1.3820. Trading tips Long positions shall be placed above the level of 1.3780. Sell positions are recommended if the price consolidates below the level of 1.3735.
Ilya Lashenko Analyst of LiteForex Group of Companies
XAU/USD: General analysis Current trend Since March gold the price of gold has fallen by 100 USD per troy ounce. Many experts believe that decline in price will continue especially if American economy demonstrated new signs of recovery. At the moment gold prices are approaching the lower limit of the trading channel at the level of 1282.06. If this level is broken down, the price can go down to the level of 1200.00. Note that US unemployment rate will become known today. According to forecast it shall decrease to 6.6%. If these expectations will be justified, the pair XAU/USD can continue to decline. Deutsche Bank analysts think that gold will trade at the level of 1261.00 in 2014. Support to gold can be provided by Asian countries, where demand for gold is still high. Support and resistance The nearest resistance level is 1282.06 – lower limit of the trading channel. Support level is 1300.00. On the four hour chart Williams’ Percent Range indicator is in the range of (-91), showing that gold is oversold and short-term correction is possible soon. General trend is still downward. Trading tips It is recommended to open short positions after breakdown of the level of 1282.06 with stop loss at 1299.06 and a target of 1250.00.
Dmitriy Agurbash Analyst of LiteForex Group of Companies