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Forex: Ichimoku Clouds. Review of NZD/USD NZD/USD, H4 Let’s look at the four-hour chart. Tenkan-sen and Kijun-sen lines have merged above the cloud and remain horizontal, reflecting the uncertainty of the market. Chinkou Span line is above the price chart; current cloud is ascending. The closest support level is merged Tenkan-sen and Kijun-sen lines (0.7399). One of the previous maximums of Chinkou Span line is expected to be a resistance level at 0.7487.
NZD/USD, D1 On the daily chart Tenkan-sen line is below Kijun-sen, both lines are horizontal. Chinkou Span line is below the price chart; current cloud is descending. The pair has been corrected above Tenkan-sen line (0.7330), which is a support level now. The closest resistance level is Kijun-sen line (0.7532).
Key levels Support levels: 0.7399, 0.7330. Resistance levels0.7487, 0.7532. Trading tips On the four-hour chart the price can’t break down strong support level of 0.7399. On the daily chart we can see a correction of the downward movement. Target for the short-term buy orders is 0.7532. Anastasiya Glushkova Analyst of LiteForex Investments Limited
GBP/USD: analysis and forecast Current trend GBP/USD has been growing within a range of 1.5196-1.5422 throughout the past week. As a result, the trading session closed at 1.5396. This week started with a positive gap that was overlapped afterwards. Then the pair resumed growth. The absence of important macroeconomic data on the UK accounts for a prevailing sideways movement of the pound against the American dollar today. The market is expected to come to a standstill ahead of tomorrow's publication of UK key economic indexes. Support and resistance Quotes are still moving within the upper Bollinger band on the H4 chart. A value of 1.5439 is now a resistance level whose breakdown will allow the pair to grow to the level of 1.5475 and probably 1.5570. Support levels: 1.5380, 1.5335, 1.5300. Resistance levels: 1.5439, 1.5475, 1.5570. Trading tips Long positions should be opened once the price chart has crossed a level of 1.5439, with an exit at 1.5475. Sell below 1.5380 with a target at 1.5335. http://www.liteforex.com/uploads/other/45c6c694dce5c8444daeae93ed18dd88.jpeg"> Dmitriy Agurbash Analyst of LiteForex Investments Limited
Forex: Ichimoku Clouds. Rewiev USD/CHF USD/CHF, H4 Let’s look at the four-hour 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. The pair is slowly rising, being corrected along the way. Tenkan-sen line is the closest resistance level (0.9234). Support level will be Kijun-sen line (0.9296).
USD/CHF, D1 On the daily chart Tenkan-sen line is above Kijun-sen, both lines are horizontal. Chinkou Span line is approaching the price chart from below; current Kumo-cloud is ascending. The pair is trading within a sideways channel. Tenkan-sen line is the closest support level (0.9269). The next obstacle for the price on its way up will be the lower border of the cloud (0.9829).
Key levels Support levels: 0.9269, 0.9296. Resistance levels: 0.9234, 0.9829. Trading tips On the four-hour chart the pair is slowly moving upwards, but on the daily one we can see a correction of the downward trend. Even if the pair continues to trade within a sideways channel, price chart will break through the cloud at the end of the week, giving a signal to buy. Meanwhile, short-term buy positions can be opened at current price with targets around 0.9322. Anastasiya Glushkova Analyst of LiteForex Investments Limited
Forex: Ichimoku Clouds. Rewiev EUR/USD EUR/USD, H4 Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, they are both directed upwards. Chinkou Span line is approaching the price chart from above. Current cloud has recently reversed from descending to ascending. The pair is trading within the cloud, borders of which become support (1.1346) and resistance (1.1402) levels.
EUR/USD, D1 On the daily chart Tenkan-sen line is below Kijun-sen, they are both horizontal. Chinkou Span line is below the price chart, current cloud is descending. After long fall, the pair is being corrected to the level of Tenkan-sen line. The closest resistance level is Kijun-sen line (1.1471). One of the previous minimums of Chinkou Span line is expected to be a support level at 1.1203.
Key levels Support levels: 1.1346, 1.1203. Resistance levels: 1.1402, 1.1471. Trading tips On the four-hour chart the pair is trading within the cloud, on the daily one we can see a correction of the downward movement. Pending sell orders can be placed below the lower border of the cloud (1.1346) with target at 1.1203. Anastasiya Glushkova Analyst of LiteForex Investments Limited
Forex: Ichimoku Clouds. Review of XAU/USD XAU/USD, H4 Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, they are both horizontal. Chinkou Span line is below the price chart; current Kumo-cloud is descending. The pair has broken through Tenkan-sen and Kijun-sen lines, the latter becomes a support level (1216.88). The next obstacle for the price on its way up will be the lower border of the cloud (1227.81).
XAU/USD, D1 On the daily chart Tenkan-sen line is also below Kijun-sen, the red line is directed steeply down down, while the blue one remains horizontal. Chinkou Span line has crossed the price chart from above; Senkou Span A and Senkou Span B lines have merged prior to the cloud reversal. The pair has bounced of the upper border of the cloud (1205.78). Tenkan-sen lineis the closest resistance (1221.52) level.
Key level Support levels: 1216.88, 1205.78. Resistance levels: 1221.52, 1227.81. Trading tips On the four-hour chart we can see the beginning of trend reversal, on the daily on the pair has bounced of support level of Senkou Span A line. Short-term buy orders can be placed at current price with targets at 1221.52 and 1227.81. Anastasiya Glushkova Analyst at LiteForex Investments Limited
EUR/USD: general review Current trend Yesterday there was downward dynamics in Euro trading and the pair dropped to a level of 1.1356. The euro goes on declining today. The main factor hanging over the single European currency remains the Greek issue. The Greek government asked to extend the loan agreement on Thursday. However, the German minister Wolfgang Schäuble's opinion is that this suggestion is not constructive and won't help. The day before, the European commission approved of a request to extend economic aid for Greece, believing that it could help stabilize the euro zone. Another round of negotiations between Greece and Europe is to take place today. Unless the officials reach an agreement before the end of this month, the scenario of Greek default and full-scale crisis in the eurozone becomes more and more plausible. Support and resistance The resistance levels are at 1.1372 (maximum of the Asian session), 1.1449 (yesterday's maximum), 1.1533 (3 February's maximum), 1.1600 (important psychological level). Support levels: 1.3000 (important psychological level), 1.1230 ( lower line of Bollinger Bands), 1.1097 (26 January's minimum). Trading tips Go short after a level of 1.1300 has been broken down. Short-term target - 1.1230, main target - 1.1100. Buy above 1.1375 with targets at 1.1440 and 1.1530.
Andrey Cherkas Analyst at LiteForex Investments Limited
GBP/USD: technical analysis Current trend The previous week was quite volatile for the GBP/USD that traded in a range of 1.5340-1.5465. On Wednesday, following the publication of data on the UK labour market, the pound managed to rise to a resistance level of 1.5465, but did not break it down. On Friday, the British currency lost points against a backdrop of negative data on retail sales. The trading session closed below 1.5400. The pair dropped at the beginning of this week and held below 1.5385. At present, the GBP/USD is trading near the lower limit of the channel that will be hardly broken. Bulls are expected to attempt to get back to a level of 1.5450 and hold at it. January's data on US consumer price index and UK GDP in fourth quarter of this year are worth attention this week. Support and resistance Technical indicators are pointing to a further decline of quotes on H4 chart. Resistance levels are: 1.5385, 1.5405, 1.5440, and 1.5465. Support levels: 1.5350, 1.5315, 1.5300, and 1.5280. Trading tips Sell below the level of 1.5340 with the target at 1.5290. Buy above the level of 1.5385. It would be also wise to place Sell Limit orders at 1.5450.
Ilya Lashenko Analyst of LiteForex Investments Limited
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 above the cloud, forming a signal to sell. Chinkou Span line has crossed the price chart from above, current cloud is still ascending. The pair has broken down the cloud and is moving towards 0.7680. The closest resistance level is the lower border of the cloud (0.7759).
AUD/USD, D1 On the daily chart Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Chinkou Span line is below the price chart, current cloud is descending. The pair has been corrected to the Tenkan-sen line after a long fall. The closest support level is Kijun-sen line (0.7959). One of the previous minimums of Chinkou Span line is expected to be a support level at 0.7595.
Key levels Support levels: 0.7680, 0.7605. Resistance levels: 0.7759, 0.7930. Trading tips On the four-hour chart the pair has broken down the cloud, forming strong signal to sell. On the daily chart we can see a correction of the downward movement. Targets for the sell positions are 0.7680 and 0.7605. Anastasiya Glushkova Analyst of LiteForex Investments Limited
Brent: general analysis Current trend Yesterday, Brent crude oil tested a level of 60.00. A compromise regarding financial assistance to Greece contributed to the growth of oil quotes. The EU's finance ministers had approved of a Greek reform plan and extended bailout terms for another 4 months. In particular, the Greek government had promised to continue selling state-owned assets, consolidate pension funds to cut expenses, take measures to fight tax dodgers and smugglers and to introduce progressive taxes. However, Brent price failed to hold above 60.00. The tools had fallen to a level of 57.97 by the end of the day. Fundamental factors continue to hang over oil prices and oversupply still causes hydrocarbon prices to fall. The black gold follows a positive trend trading at about 59.00 today. The developement of Chinese production activity along with FED's flexible attitude to an interest rate rise support Brent oil rates. Support and resistance Resistance levels: 57.68 (middle line of Bollinger bands), 60.00 (important psychological level), 61.00 (20th February's maximum), 62.00 (important psychological level), 62.84 (17th February's maximum), 63.90 (upper line of Bollinger bands). Support levels: 57.68 (middle line of Bollinger bands), 56.00 (38,2% Fibonacci retracement), 55.00 (important psychological level), 53.90 (50% Fibonacci retracement). Trading tips If the current trend continues, opening long positions will become relevant from a level of 60.10 with the nearest target at 61.00 and the second target at 62.80. A firm breakdown of the level 57.60 will open a way to the levels 56.00 and 53.90, from which there may resume an uptrend within the framework of technical correction.
Vadim Smarzh Analyst of LiteForex Investments Limited
EUR/USD: sideways channel to be replaced by bullish trend Current trend The European currency carries on trading in a wide sideways range of 100-180 points against the dollar. Yesterday before noon, the pair fell again to a key support level of 1.1285. This level became a sort of barrier for the bears as the pair failed to cross it 7 times. The market trend is currently flat. The pair needs fundamental catalysts to leave the channel. Upbeat data on consumer confidence index has been published today in Germany, but the labour market statistics were not as positive and therefore the pair showed almost no reaction to this data. Besides, statistics for key indexes will be released in the eurozone today. The US is to publish consumer price index and labour market statistics. The pair will continue to move within a current range of 1.1285-1.1450. In the medium term, the pair may rise to new local highs against a backdrop of the US weakening economy, negative data on labour market and GDP that will be published tomorrow. What's more, macroeconomic data from Germany hints that the euozone's economy is gradually recovering from protracted recession. It means that positive news from Germany will push the European currency upwards. Support and resistance In the medium term, the pair is expected to rise to the levels 1.1530 and 1.1600. Support levels: 1.1285, 1.1225, 1.1170, 1.1100, 1.1050. Resistance levels: 1.1385, 1.1410, 1.1450, 1.1530, 1.1600, 1.1700, 1.1750. Trading tips It would be wise to trade within the current range from the key support and resistance levels, but it's necessary to limit losses with Stop Losses placed beyond the limits of the range in case the price breaks through. In the medium term, buy the oversold euro with targets at 1.1530 and 1.1600.
Dmitry Likhachev Analyst of LiteForex Investments Limited