LiteForex Analytics - page 15
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
GBP/USD: USD is heading for strengthening Current trend On Tuesday the pair GBP/USD declined due to the rise in the USD. American statistics of construction sector was positive and members of Open Market Committee indicate that the cut in the volume of QE3 will take place in the near future. Tomorrow the data on the US GDP will become known; experts predict the rise in index by 0.1-0.2%, which will give additional support to the USD. British statistics disappointed investors, showing weak economic performance: number of approved mortgage applications was below the forecast. British GDP, which will be known tomorrow, is likely to remain unchanged. Today, retail sales index as per estimate by Confederation of British Industry will be released. Experts believe that the index will drop up to the level of 24 points. It is worth paying attention to the US economic statistics in the construction sector and changes in oil inventories. Support and resistance /b] The pair fell below support level of 1.6000 and consolidated there. Next target is the limit of the ascending channel (1.5880). If this level is broken down, the price will go to the highs of June at the level of 1.5750; this movement can be considered as trend reversal. Otherwise, the pair can push off from the lower limit of the channel 1.5880 and continue to rise to 1.6300. Indicators confirm continuation of decline. On the four-hour chart MACD histogram is moving to the negative zone, it is below the signal line and is giving a strong sell signal. Indicator Ichimoku Kinko Hyo on the four-hour chart has formed “Dead cross”, also suggesting the decline in future. Trading tips In the current situation it is recommended to place short positions with profit taking near 1.5880-1.5750. Pending buy orders can be placed from the level of 1.5880 with protective orders at the level of 1.5720 and a target of 1.6300.
Dmitry Likhachev Analyst of LiteForex Group of Companies
EUR/USD: Jacob Lew predicts bankruptcy of the U.S. Current trend Yesterday, the pair again failed to break down the level of 1.3458. However, it is too early to speak about upward correction or trend reversal. The data on American GDP and number of applications for unemployment benefits will be released today. It is expected that GDP will amount to 0.2%, while number of applications for unemployment benefits will increase by 10 thousand. These indices along with yesterday’s statement by Jacob Lew can trigger the rise in the pair to the winter’s highs of 1.3713. I would remind that yesterday the US Treasury Secretary Jacob Lew said in his speech about the threat of bankruptcy to the USA if the ceiling of the US public debt will not be legally increased. Support and resistance Technical analysis shows that the pair has all chances to rise to the upper limit of the channel, from where downward correction can develop. MACD indicator demonstrates that “bullish” movement will continue. Support level is 1.3458, resistance levels are 1.3568 and 1.3604. Trading tips As a trading strategy I recommend to open long positions with the target of 1.3713. Limit buy orders can be placed near resistance level of 1.3458 since it is not excluded that this level can be tested again.
Kamil Avad Analyst of LiteForex Group of Companies.
Brent: general analysis Current trend The rate of crude oil Brent has been falling since the beginning of the European session. Black Gold is under pressure of fundamental data. UN negotiates with Iran about uranium enrichment program, and the President of Iran intends to conclude an agreement with international organization. Reduction of tension between Iran and international community makes oil cheaper. Another factor is US Energy Information Administration report on oil supplies last week. Oil reserves have reached the number of 2.64 million barrels, though it was expected to be 1 million barrels. Supplies increase, demand decreases and if this trend continues, the rate of the Brent may fall down to the level of $100 per barrel. Levels of support and resistance Support level is the lower border of an uprising channel at 107.74. Resistance level will be at 109.50. Trading tips Short positions should be opened after the breakdown of the lower border of the channel with stop-losses at 107.90 and targets at 104.25.
Dmitry Agurbash 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 line has crossed Kijun-sen line from below under the cloud, forming Golden Cross pattern. However upward impetus wasn’t enough and the price is still under Tenkan-sen line (1328.988). Though Kijun-sen line (1322.37) keeps the pair from falling. Chinkou Span line is approaching the price chart from below, current Kumo is descending.
XAU/USD, D1 On the daily chart Tenkan-sen line is below Kijun-sen, and they have been horizontal since the beginning of the week. Chinkou Span line is below the price chart, current cloud has reversed from ascending to descending. This Monday the price has entered the cloud and been flat ever since. Lower border of the cloud is a support level at 1387.39, Tenkan-sen line remains resistance level at 1333.19.
Key levels Support levels: 1322.37, 1387.39. Resistance levels: 1328.988, 1333.19. Trading tips On the four-hour chart further movement of the price will be determined by the breakdown of one of the levels: Tenkan-sen or Kijun-sen. On the daily chart the price has entered the cloud, we suggest to avoid new long-term positions. Anastasiya Glushkova Analyst of LiteForex Group of Companies
EUR/USD: Euro will decline Current trend Following the US Fed’s statement that asset purchase program would not be reduced, the pair once again hit the highs of 1.3565. However, uptrend was short-lived and European currency returned to support level of 1.3460. It is likely that today the pair will trade in the narrow channel, moving slowly. Next week the US data on a number of jobs excluding agricultural sector will become known, which can change movement direction in the pair. Technical analysis shows that a clear buy signal is given only by Stochastic indicator, which is in the oversold zone. Other indicators do not give any signals. Support and resistance Support level of 1.3460 is the key level for the “bears”. Breakdown of this level will open the way to 1.3440, 1.3400 and 1.3355. Resistance levels are 1.3500, 13530 and 1.3565. Trading tips The most feasible scenario is the decline in the pair; however prior to this moment, the “bears” will need to break down the level of 1.3460, which will require additional momentum. It is recommended to sell after successful breakdown of this level and consolidation below it.
Ilya Lashenko Analyst of LiteForex Group of Companies.
GBP/USD: the Pound is weakening Current trend At the end of last week the British currency has significantly grown against the USD. Even negative data on British GDP could not slacken upward movement. The rise was triggered by high demand for the Pound among investors and weakening of the USD due to dampened expectations of growth in the US GDP. This week uptrend continues and the pair has reached the local highs of 1.6180. The data on mortgage and consumer lending in UK is scheduled for the release today. In addition, it is worth paying attention to business activity index in the manufacturing sector of Chicago region. Support and resistance /b] Traditionally, at the end of the tourist season the Pound strengthens along with the economic growth. Later uptrend is expected to shift to downtrend. Although rapid rise is unlikely, due to positive statistics the pair may reach the level of 1.6300. Support levels: 1.6050, 1.6000 and 1.5880. Resistance levels: 1.6150 and 1.6300. Trading tips In the current situation it is advisable to place short positions near 1.6000-1.5880. Pending sell orders can be placed from the level of 1.6300 with the target of 1.6000.
Dmitry Likhachev Analyst of LiteForex Group of Companies
USD/CHF: investors are worried Current trend Last Friday the pair has broken through the support level at 0.9080, encouraging “bearish” sentiments. As for the fundamental data, Flash Manufacturing PMI will be published today. Besides, US government is under the threat of default. Politics can’t find an understanding regarding the national debt, and investors are getting nervous: US indices futures have opened the week with almost 1% of the decrease. News from Zurich is also worrisome: Swiss banks are to be in the least beneficial category of the American program of tax regulation. According to the price chart the pair is in the downward trend. Bollinger Bands indicator confirms the descending movement, its middle MA has fallen down to the level of 0.9085. MACD histogram has crossed the signal line from above, forming a signal to sell. We expect the price to go down to the level of 0.9029, and on the 1st of October with the beginning of the new financial year the trend will reverse. Support and resistance /b] Main support levels are 0.9085 and 0.9039. New financial year and positive statistics from USA are the only factors which can help the pair to break down the resistance at the levels of 0.9065 and 0.9045. Trading tips It is recommended to open short positions at current price with Take Profits at 0.9065. Targets for the long positions and for the pending orders to buy are at the level of 0.9065.
Andrey Chupov Analyst of LiteForex Group of Companies
Weekly analytical video review for currency pairs EUR/USD, GBP/USD and USD/JPY 1-4.10.2013
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
USD/CAD: The pair will continue sideways trend Current trend Throughout last week the pair traded in the range of 1.0270-1.0325. Several times the “bulls” unsuccessfully tried to break down the upper limit of the channel. This week USD/CAD opened with the upward gap; however later it experienced correction and returned to the upper limit of the channel. Important Canadian news is not scheduled for the release this week; however on Friday we expect fundamental news from American labour market about the number of jobs outside agricultural sector and unemployment rate for September. Support and resistance The nearest resistance level is 1.0330, which coincides with the level of 38.2% Fibonacci and prevents the rise in the pair. Next resistance levels are 1.0350, 1.0370 and 1.0400. Support levels are 1.0275, 1.0245 and 1.0200. Trading tips It is likely that the pair will continue to move in the sideways channel, therefore it makes sense to place pending orders buy limit and sell limit at the boundary of the channel. In case of breakdown of the lower boundary “sell limit” can be placed at the level of 1.0200.
Ilya Lashenko Analyst of LiteForex Group of Companies.
EUR/USD: Congress does not rush to help the USD Current trend Today the pair has finally broken down resistance level of 1.3567, but has not consolidated above this level yet. During European trading session the following EU data was released: unemployment rate in Germany rose by 0.1%, business activity index in Eurozone was below the forecast, amounting to 51.1 points. Despite this fact the pair has rolled back from the level of 1.3567 and is still testing this level. Later, at the opening of the American session this level can be broken down. Such development is based on the situation around the US public debt. Congressmen could not agree on the issue of the debt ceiling. In addition, the USD will be under pressure from the cut in costs in construction sector and the decline of ISM manufacturing. Therefore, the pair has all chances to consolidate above the level of 1.3567. Technical indicators show that the pair has growth potential to go up to the level of 1.3709 and starting from this level sale can commence. Support and resistance If the pair consolidates above the level of 1.3567, next resistance level will be the level of 1.3658, which is located near the upper moving average of Bollinger bands indicator. The pair is still supported by the level of 23.6% Fibonacci (1.3459). Trading tips As a trading strategy I would recommend to buy from the current price level with the target of 1.3713. Stop-loss can be placed at the level of 1.3459.
Kamil Avad Analyst of LiteForex Group of Companies.