MAYZUS Daily Technical Analysis - page 12
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MAYZUS Daily Technical Levels
GBP/USD – growth is possible
Our turning point is the level of 1.66200
Our preference: Buy the GBP/USD pair above the level of 1.66500, with the nearest targets being 1.66700 and 1.67000.
Alternative scenario: If the level of 1.66200 is breached down with success, then the pair could drop to 1.65990, 1.65700.
Please note that this information is an analytical review of Capital and FX markets. The material presented, and the information contained, is investment research and should in no way be considered as the provision of investment advice for the purposes of Investment Firms Law 144(I)/2007 of the Republic of Cyprus, or any other form of personal advice, which relates to certain types of transactions, with certain types of financial instruments.
MAYZUS Daily Technical Levels
USD/JPY – during the day there is a risk of a technical correction
Our turning point is the level of 104.000
Our preference: Sell the USD/JPY pair below the level of 104.000, with the nearest targets being 103.800, 103.600 and 103.400.
Alternative scenario: If the resistance level of 104.000 is breached up with success, then the pair could rise to 104.200, and 104.350.
Analysis: The technical indicators point that USDJPY pair is overbought, the RSI gave a signal to sell.
Please note that this information is an analytical review of Capital and FX markets. The material presented, and the information contained, is investment research and should in no way be considered as the provision of investment advice for the purposes of Investment Firms Law 144(I)/2007 of the Republic of Cyprus, or any other form of personal advice, which relates to certain types of transactions, with certain types of financial instruments.
MAYZUS Daily Technical Levels
AUD/USD – growth is possible
Our turning point is the level of 0.92100
Our preference: Buy the pair above the level of 0.92100, with the nearest targets being 0.92400, 0.92650 and 0.93000.
Alternative scenario: If the support level of 0.92100 is breached down with success, then the pair could drop to the following levels: 0.91800, 0.91580 and 0.91370.
Analysis: The technical indicators point that the AUD/USD pair is oversold, the stochastic indicator gave a signal to buy.
Please note that this information is an analytical review of Capital and FX markets. The material presented, and the information contained, is investment research and should in no way be considered as the provision of investment advice for the purposes of Investment Firms Law 144(I)/2007 of the Republic of Cyprus, or any other form of personal advice, which relates to certain types of transactions, with certain types of financial instruments.
MAYZUS Daily Technical Levels
XAU/USD – during the day there is a risk of a technical correction
Our turning point is the level of $1295
Our preference: Sell Gold below the level of $1295, with the nearest targets being $1285, $1277 and $1270.
Alternative scenario: If the resistance level of $1295 is breached up with success, then Gold could rise to $1300 and $1310.
Analysis: The technical indicators point that Gold is overbought.
Please note that this information is an analytical review of Capital and FX markets. The material presented, and the information contained, is investment research and should in no way be considered as the provision of investment advice for the purposes of Investment Firms Law 144(I)/2007 of the Republic of Cyprus, or any other form of personal advice, which relates to certain types of transactions, with certain types of financial instruments.
MAYZUS Daily Technical Levels
XAG/USD – Growth is possible
Our turning point is the level of $19.90
Our preference: Buy Silver above the level of $19.90, with the nearest levels being $20.25, $20.70 and $21.00.
Alternative scenario: If the support level of $19.90 is breached down with success, then Silver could drop to $19.750 and $19.650.
Analysis: The technical indicators gave a signal to buy.
Please note that this information is an analytical review of Capital and FX markets. The material presented, and the information contained, is investment research and should in no way be considered as the provision of investment advice for the purposes of Investment Firms Law 144(I)/2007 of the Republic of Cyprus, or any other form of personal advice, which relates to certain types of transactions, with certain types of financial instruments.
FORECAST FOR APRIL 7-11, 2014
Next week will be filled with macro and microeconomic data from the major #world’s #economies.
Let us revise key events of the week.
Monday, April 7
Publication of data about Germany’s industrial manufacturing will become one of the most important Monday events. According to experts’ forecasts it should grow by 0.9% (monthly value).
The USA will publish changes of the consumer credit.
Tuesday, April 8
Australia will present its Business Confidence index by NAB early in the morning. It is based on data collected from a survey of around 350 companies. A level above zero indicates improving conditions; below indicates worsening conditions.
The Bank of Japan will announce its decision on the interest rate at 6 a.m. (GMT+3). A press conference devoted to the monetary policy will be held at the same time.
Traders will switch their attention to the publication of industrial manufacturing data from the UK at 11:30 a.m.
Wednesday, April 9
Australia will publish Consumer Sentiment index that is compiled from a survey of about 1,200 consumers, which asks respondents to rate the relative level of past and future economic conditions.
Germany will announce data about its trade balance at 9 a.m. It will be followed by the same data from Britain at 11:30 a.m.
Final FOMC minutes will be published at 9 p.m.
Thursday, April 10
Australia will be in the limelight of traders’ attention at 4:30 a.m., when labor market stats will be announced. Information will include unemployment level and change of the unemployment rate. According to the analysts’ forecast, an unemployment should decrease from 6% to 5.9%.
Chinese export, import and trade balance will be published at 5 a.m.
Italy and France will announce their stats related to industrial manufacturing during the day.
The Bank of England will reveal decision on the interest rate and assets buyout volumes at 2 p.m. Experts don’t think that the Bank’s monetary policy will change. However, pound will be volatile during news publication.
Traders will switch their attention to the US labor market at 3:30 p.m., when primary and secondary requests for unemployment benefits will be announced.
Friday, April 11
Consumer inflation will be announced in China at 4:30 a.m.
CPIs and PPIs will be published by Germany, Spain, Switzerland and the USA during the day.
Michigan Consumer Sentiment index will be published at 4:55 p.m.
WEEKLY FORECAST FOR EURCZK, APRIL 7-11, 2014
The whole week Czech koruna was decreasing in comparison to euro. EURCZK maximum rate of the week was registered at 27.48.
Koruna got weaker after publication of the economic stats from the Czech Republic.
Final GDP in IV quarter of 2013 has decreased from 1.9% to 1.8%.
Industrial manufacturing has also slowed down, which affected koruna’s rate negatively. PMI by HSBC got to its maximum in
February, but dropped from 56.5 to 55.5 in March. However, the index is still above 50 points, which means that manufacturing is growing.
Koruna was able to recover its positions by the end of the week after to the release of the positive data about retail sales dynamics. According to the Czech Statistical Office, retail sales grew by 0.3% since January 2014. Annual value grew by 8.1%, while experts were waiting for 6% growth.
EURCZK dynamics will be defined by the new data from the Czech economy.
Czech CPI and data about unemployment level will be published next week.
Unemployment stayed at 8.6% in January and February, which is a maximum value registered since January 2013. According to experts, an unemployment level should drop to 8.4% in March.
EURCZK looks locally oversold from the technical point of view. Stochastic indicator shows a signal to buy. If a resistance level at 27.48 is breached with success, then pair can get to 27.500 and 27.5350.
If price drops under 27.42, then EURCZK’s rate can decrease to 27.38 and 27.35.
OIL MARKET REVIEW AND A FORECAST FOR LIGHT SWEET CRUDE OIL, APRIL 7-11, 2014
Light Sweet crude oil’s (WTI) price was going up the whole week and got to $100.9/barrel on Friday.
WTI rates were supported by EIA report on stock of oil and oil derivatives that appeared to be much better than a forecast.
Gas stock dropped by 1.574 million barrels last week, while experts were waiting for the decrease by 1.086 million barrels.
Traders were happy with the data about the stock of raw oil that had decreased by 2.379 million barrels, while an increase by 1.086 was expected.
Stock of distillates increased by 0.554 million barrels, which appeared to be worse than the predicted decrease by 0.100 million barrels.
Improvement of the unemployment forecast combined with the cuts of the stimulus measures mean that economic situation in the #USA is recovering, which will increase a demand for oil.
Let us remind that distillates sales go down when the weather gets warmer, as they are mostly used for heating. So it is recommended to pay attention to the changes of stock of oil and gas.
Another factor that supported oil was the improvement of the situation on the US labor market.
Unemployment level and the number of new jobs are usually published on first Friday of the month. According to the US Department of Labor 192 thousand of jobs were created in March, which appeared to be worse than a forecast of 200 K.
Meanwhile, February data was corrected towards the increase from 175 thousand to 197 thousand jobs.
US economy shows good speed of new jobs creation, which increases demand for oil and oil derivatives.
Oil looks locally overbought from the technical point of view. Stochastic indicator gives a signal to sell. If $100 is breached, then oil can drop to $99.30, $98.60 and $97.94.
Oil can keep growing after the technical correction. Nearest resistance levels are located at $101.45 and $102.40.
MAYZUS Daily Technical Levels
EUR/USD - during the day there is a risk of a technical correction
Our turning point is the level of 1.37200
Our preference: Sell the EUR/USD below the level of 1.37000 with the key targets being: 1.36800, 1.36500.
Alternative scenario: If the resistance level of 1.37250 is breached up with success, then the pair could rise to 1.37600 and 1.3800.
Analysis: The stochastic indicator is in the overbought area and will give a signal to sell soon.
Please note that this information is an analytical review of Capital and FX markets. The material presented, and the information contained, is investment research and should in no way be considered as the provision of investment advice for the purposes of Investment Firms Law 144(I)/2007 of the Republic of Cyprus, or any other form of personal advice, which relates to certain types of transactions, with certain types of financial instruments.
MAYZUS Daily Technical Levels
GBP/USD – growth is possible
Our turning point is the level of 1.65600
Our preference: Buy the GBPUSD pair above the level of 1.65600, with the nearest targets being 1.65900, 1.66170 and 1.66455.
Alternative scenario: If the level of 1.65600 is breached down with success, then the pair could drop to 1.65350, 1.65070.
Analysis: The technical indicators will give a signal to buy soon.
Please note that this information is an analytical review of Capital and FX markets. The material presented, and the information contained, is investment research and should in no way be considered as the provision of investment advice for the purposes of Investment Firms Law 144(I)/2007 of the Republic of Cyprus, or any other form of personal advice, which relates to certain types of transactions, with certain types of financial instruments.