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Forex Analysis by LiteForex

Discussion in 'Forex Daily News & Outlook' started by LiteForexNews, Nov 13, 2015.

  1. LiteForexNews

    LiteForexNews New Member

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    With kind permission of the Administration we'll be glad to share our view of the Forex market with everybody.

    Example (from yesterday).

    USD/JPY: pair is growing

    Current trend

    Today the pair strengthened amid mixed data from Japan. The Domestic Corporate Goods Price Index for October fell by 0.6% against the previous month, while was forecasted a fall of 0.4%, and by 3.8% against the previous year. At the same time, Machinery Orders for September grew by 7.5%, against forecasted 3.3%.
    The pair is supported by the Bank of Japan decision to continue with easy monetary policy with the tendency of its further easing, and strong labour market data that came out last Friday in the US that significantly increased the chances of interest rates hike in the US in December.
    Today attention needs to be pair to the ECB President Draghi speech, Fed’s Yellen speech and speeches by few other members of the Fed that could increase volatility on the market.

    Support and resistance

    On Friday the pair broke out strong resistance level at 122.50 (38.2% Fibonacci correction) and continues growing towards 123.70 (23.6% correction), 124.50 (upper border of an ascending channel on the daily chart).
    At the same time, a breakdown of the level of 122.50 would lead to a fall towards 121.50 (50% correction), 120.60 (61.8% correction, ЕМА144 on the daily chart).
    OsMA and Stochastic on the daily and weekly charts recommend long positions and turn to purchases on the 4-hour chart.
    Support levels: 122.50, 122.00, 121.50.
    Resistance levels: 123.70, 124.00, 124.50.

    Trading tips

    Pending buy orders can be paced at 123.20 with targets at the levels of 123.70, 124.00, 124.50 and stop-loss at 122.80.
    Pending sell orders can be placed at the level of 122.70 with targets at 122.50, 122.10, 121.50 and stop-loss at 123.10.

    Here there will be a picture or two.
     
  2. LiteForexNews

    LiteForexNews New Member

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    AUD/USD: flat after yesterday's growth

    Current trend

    Today, the AUD/USD pair is keeping its positions though the US dollar is strengthening against other currencies. On Thursday, the Australian dollar gained significant support from strong labour market statistics, released in Australia. Thus, Unemployment Rate declined from 6.2% to 5.9% in October, while Employment Change indicated a growth by 58.6K that is about four times above the forecast.
    Australia's economy is export-oriented, thus, it will benefit from a weaker national currency. At the same time, China, as Australia's biggest trading partner, is showing clear signs of economic slowdown, lowering inflation and weakening domestic demand.
    Today, attention needs to be paid to Retail Sales for October and Reuters/Michigan Consumer Sentiment Index for November, due in the US. Favorable statistics will strengthen the US dollar.

    Support and resistance

    On Thursday, the price strengthened to the resistance level of 0.7150 (EMA50 on the daily chart, the upper border of a downward channel and EMA200 on the 4-hour chart).
    On the 4-hour chart, OsMA and Stochastic indicators are turning to short positions.
    If the price fails to overcome the level of 0.7150, a downward trend may resume towards 0.7030, 0.7000 (the lower border of the downward channel), 0.6950 and 06910 (September and year lows).
    On the daily chart, OsMA and Stochastic recommend long positions, indicating that the price may continue correcting up and breakout the level of 0.7150.
    Support levels: 0.7100, 0.7030, 0.6950, 0.6910.
    Resistance levels: 0.7150, 0.7190, 0.7325, 0.7390, 0.7500.

    Trading tips

    Short positions can be opened from the level of 0.7110 with targets at 0.7030, 0.6960, 0.6910 and stop-loss at 0.7150.
    Long positions can be opened from the level of 0.7170 with targets at 0.7210, 0.7300, 0.7380 and stop-loss at 0.7140.

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  3. LiteForexNews

    LiteForexNews New Member

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    USD/JPY: BoJ Governor satisfied with GDP statistics

    Current trend

    Yesterday, the Bank of Japan decided to keep its current monetary policy unchanged. BoJ Governor considers that a decline in the third-quarter GDP was insignificant. However, as many economists suggest, the Regulator may be back to discussion on easing policy at its next meeting, due on 28-29 January.
    At the same time, market participant are getting ready for a hike in the US interest rates. On Thursday, US stock indices declined, while Fed funds futures show a 72% chance of a rate increase in December against a 58% likelihood two weeks ago.

    Support and resistance

    On the daily chart, the USD/JPY pair is trading in an upward channel with the upper border at the level of 129.00.
    OsMA and Stochastic indicators on the 4-hour and daily charts recommend short positions, but on the weekly chart, they are giving buy signals.
    The breakdown of 122.50 allows the pair to decline to the support levels of 122.00, 121.50 (EMA200 on the 4-hour chart and 50.0% Fibonacci). Otherwise, after the breakout of the resistance level of 123.70, the pair would strengthen to 125.00, 125.65 (year highs).
    Support levels: 122.50, 122.00, 121.50.
    Resistance levels: 123.50, 123.70, 124.00, 124.50.

    Trading tips

    Long positions can be opened from the level of 123.10 with targets at 123.70, 124.00, 124.50 and stop-loss at 122.70.
    Short positions can be opened from the level of 122.40 with targets at 122.10, 121.50 and stop-loss at 122.80.

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  4. LiteForexNews

    LiteForexNews New Member

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    NZD/USD: US Dollar gains back losses

    Current trend

    The next RBNZ meeting is due on 9 December. While the Fed is getting ready to start tightening US monetary policy, NZ monetary policy tends to remain loose.
    Amid lowering exports to China, falling commodity and dairy products prices and a slowdown in GDP growth, the RBNZ is likely to cut its interest rates again. The head of the RBNZ Graeme Wheeler has repeatedly stated possibility of this scenario.

    Support and resistance

    Today, due to the strengthening in the USD, the NZD/USD pair has rebounded down from the resistance level of 0.6575 (EMA200, EMA144 on the 4-hour chart and EMA50 on the daily chart).
    OsMA and Stochastic indicators on the 4-hour chart have started giving sell signals. On the daily chart, Stochastic is turning to short positions as well.
    As long as the price is trading below the resistance levels of 0.6750 (EMA144), 0.6860 (23.6% Fibonacci), 0.6890 (EMA200 on the daily chart), a downward dynamics remains valid.
    Support levels: 0.6530, 0.6500, 0.6465, 0.6435, 0.6400.
    Resistance levels: 0.6575, 0.6615, 0.6700, 0.6750.

    Trading tips

    Short positions can be opened from the current level with targets at 0.6500, 0.6470, 0.6435, 0.6400, 0.6310 and stop-loss at 0.6580.
    Long positions can be opened from the level of 0.6610 with targets at 0.6690, 0.6750 and stop-loss at 0.6550.

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  5. LiteForexNews

    LiteForexNews New Member

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    USD/CAD: in upward trend

    Current trend

    Since the opening of the Asian session, the US Dollar has been growing. Yesterday, the US currency gained support from macroeconomic statistics that strengthened expectations of a hike in US interest rates at the upcoming Fed meeting.
    US Energy Information Administration reported a rise by 0.961 billion barrels in crude oil stocks that added pressure on Canada's currency.
    Amid expectations of US interest rates increase, oversupply of the world oil market and Canada's loose monetary policy, the USD/CAD pair tends to continue growing in the medium term.

    Support and resistance

    Though OsMA and Stochastic on the daily chart recommend short positions, they are still giving buy signals on the weekly chart. On the 4-hour chart, the indicators are turning to long positions as well.
    Long positions remain valid while the price is trading above the key support level of 1.2965 (38.2% Fibonacci and EMA 144 on the daily chart).
    Support levels: 1.3240, 1.3200, 1.3140, 1.3100, 1.3050, 1.2965.
    Resistance levels: 1.3350, 1.3400, 1.3450.

    Trading tips

    Long positions can be opened at the current level or from 1.3310, 1.3290, 1.3260, 1.3230 with targets at 1.3350, 1.3390, 1.3410, 1.3450 and stop-loss at 1.3190.
    Short positions can be opened from the level of 1.3180 with targets at 1.3140, 1.3090, 1.3050, 1.2965 and stop-loss at 1.3220.

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  6. LiteForexNews

    LiteForexNews New Member

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    XAU/USD: pair resumed fall

    Current trend

    After Thanksgiving Day in the US yesterday when American markets were closed and volatility remained low, since today’s opening the XAU/USD pair is falling.
    Most likely, amid expectations of monetary policy tightening in the US downward dynamics in the pair will remain until the Fed’s meeting on 16 December.
    Currently, market expectations that are represented by the price of Fed Funds futures stand at 78% probability of an interest rate increase in December.

    Support and resistance

    The pair is falling along a channel on the daily chart with the lower border below the level of 1050.00, and is heading towards 965.00 (ЕМА200 on the monthly chart).
    At the same time, an upward correction is possible to the levels of 1085.00, 1095.00 (ЕМА144 on the 4-hour chart), while a breakout of the level of 1105.00 (the middle line of the upward channel) could send the price towards 1138.00 (38.2% Fibonacci correction, ЕМА144 on the daily chart).
    On all charts from the 4-hour to monthly, OsMA and Stochastic suggest a fall continuation.
    Support levels: 1065.00, 1060.00.
    Resistance levels: 1085.00, 1095.00, 1105.00, 1118.00.

    Trading tips

    Pending sell orders can be placed at the level of 1064.00 with targets at 1060.00, 1050.00, 1010.00 and stop-loss at 1072.00.
    Pending buy orders can be placed at the level of 1078.00 with targets at 1085.00, 1095.00, 1105.00 and stop-loss at 1072.00.

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  7. LiteForexNews

    LiteForexNews New Member

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    AUD/USD: pair under pressure

    Current trend

    Today the AUD/USD pair is falling.
    The pair is pressured by investors expectations of an interest rates increase in the US at the December Fed’ meeting and further monetary policy easing in Australia. In addition, Australian economic problems may get worse. The unemployment rate could increase as companies in the mining industry continue cutting investments, while commodities prices keep falling amid slowing Chinese economy.
    Thus, until 1 December when the RBA Interest Rate Decision is due the pair will remain under pressure. If interest rate are increased then, the fall in the pair will accelerate.

    Support and resistance

    Since the beginning of the month, the pair remains in an ascending correctional channel on the 4-hour chart.
    However, a breakdown of the support levels at 0.7200 (ЕМА50), 0.7170 (ЕМА200, ЕМА144, lower border of the ascending channel on the 4-hour chart, ЕМА50 on the daily chart) would return the price in a downward channel on the daily chart and sends the pair to 0.7030 (November lows), 0.6950, 0.6910 (year lows).
    OsMA and Stochastic on the 4-hour and daily charts recommend short positions.
    Support levels: 0.7170, 0.7100, 0.7030, 0.6950, 0.6910.
    Resistance levels: 0.7250, 0.7325, 0.7370, 0.7500.

    Trading tips

    Pending sell orders can be placed at the level of 0.7190 with targets at 0.7110, 0.7090, 0.7030, 0.6950, 0.6910 and stop-loss at 0.7220.
    Pending buy orders can be placed at the level of 0.7240 with targets at 0.7290, 0.7300, 0.7370 and stop-loss at 0.7190.

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  8. LiteForexNews

    LiteForexNews New Member

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    XAG/USD: pair in flat

    Current trend

    Today the XAG/USD pair is growing.
    However, the pair remains under pressure amid investors’ expectations of an interest rates hike in the US in December. According to the Fed Fund Futures, the probability of the rate increase in December is at 78%. On Friday, March futures on silver fell by 12.7 cents, while the WSJ Dollar index remains at 13-year highs.
    Investors’ attention is focused on the US labour market data for November that is due on Friday and which is going to play a key role for the decision on interest rates at Fed’s December meeting.

    Support and resistance

    On the daily chart, the XAG/USD pair is falling along a channel with the lower border below the level of 13.85.
    Prior to the publication of important data the price will stabilise near the level of 14.00 (year lows). An upwards correction towards the level of 14.60 (ЕМА144, ЕМА200 on the 4-hour chart) is possible. However, a breakdown of the level of 14.00 would accelerate the fall.
    On the 4-hour and daily charts, OsMA and Stochastic are turning to purchases.
    Support levels: 14.00, 13.80, 13.50.
    Resistance levels: 14.35, 14.60, 14.80, 15.30.

    Trading tips

    Short positions can be opened from current prices with targets at 14.00, 13.80, 13.50 and stop-loss at 14.35.
    Long positions can be opened after the price consolidation above the level of 14.60 with targets at 15.30, 15.50.

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  9. LiteForexNews

    LiteForexNews New Member

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    USD/CHF: growth potential remains

    Current trend

    Since the beginning of this week the USD/CHF pair was falling.
    However, today poor macroeconomic statistics from Switzerland supported the pair. The SVME – Purchasing Managers’ Index for November fell to 49.7 points, while Real Retail Sales shrank by 0.8%. Both indices came out significantly worse than forecasts. Furthermore, the third quarter GDP grew by only 0.8% against the previous year that was also worse than expected.
    Today attention needs to be paid to data on the ISM Manufacturing PMI for November from the US that is forecasted to grow from 50.1 to 50.3 points. A high volatility is expected on the market.

    Support and resistance

    On the daily chart, the pair is moving along an ascending channel between the levels of 1.0340 and 0.9800. Despite the price is trading at year highs, the growth potential towards the level of 1.0600 (ЕМА144 on the monthly chart) remains in the pair.
    At the same time, a downward correction to the level of 1.0215 (ЕМА50, lower border of an ascending channel on the 4-hour chart) is possible.
    On the daily and weekly charts, OsMA and Stochastic indicate a growth continuation, while on the 4-hour chart they turned to sales.
    Support levels: 1.0215, 1.0130, 1.0000, 0.9880, 0.9800.
    Resistance levels: 1.0300, 1.0340, 1.0400.

    Trading tips

    Pending sell order can be placed from the level of 1.0270 with targets at 1.0190, 1.0100, 1.0080, 1.0000 and stop-loss at 1.0310.
    Pending buy orders can be placed from the level of 1.0320 with targets at 1.0340, 1.0400, 1.0600 and stop-loss at 1.0280.

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  10. LiteForexNews

    LiteForexNews New Member

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    USD/JPY: long positions preferred

    Current trend

    Since the beginning of Asian session today the USD/JPY pair fell.
    The pair was pressured by poor data on the Chinese manufacturing sector that showed further cooling of the Chinese economy. In addition, pressure on the pair comes amid investors’ expectations of further monetary policy easing in the eurozone because the Yen serves as the safe-haven currency during market instability.
    At the same time the pair is supported by expectations of an interest rates hike in the US in December and further monetary policy easing in Japan as it was mentioned before by Bank of Japan Governor Kuroda.

    Support and resistance

    On the daily chart, the pair is moving along an ascending channel with the upper border near the level of 124.50, while the last 4 weeks it has been trading in a range between the levels of 123.70 (23.6% Fibonacci correction) and 122.50 (38.2% correction).
    The pair is prevented from further fall by strong support levels at 122.50, 122.25 (ЕМА144), 122.00 (ЕМА200 on the 4-hour chart), while a breakout of the level of 123.70 would send the pair to 125.00, 125.65 (year highs).
    On the 4-hour, daily and weekly charts, OsMA and Stochastic recommend long positions.
    Support levels: 122.50, 122.25, 122.00, 121.50.
    Resistance levels: 123.50, 123.70, 124.00, 124.50.

    Trading tips

    Pending buy orders can be placed at the levels of 122.50, 122.25, 122.00 with targets at 123.00, 123.50, 123.70, 124.00, 124.50 and stop-loss at 121.70; and at 123.30 with targets at 123.50, 123.70, 124.00, 124.50 and stop-loss at 122.80.
    Pending sell orders can be placed at the level of 121.40 with targets at 121.10, 120.70 and stop-loss at 121.70.

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  11. LiteForexNews

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    EUR/USD: general analysis

    Current trend

    Yesterday, the European currency strengthened slightly against the US Dollar, which was under pressure from US statistics on ISM Manufacturing PMI. In November, the indicator declined from 50.1 to 48.6 points, while analysts forecasted a growth to 50.4 points.
    November Data on Consumer Price Index is due today in the EU. The indicator is expected to come in at 0.2%. Even if the forecast is confirmed, a possible growth in the EUR will be limited as ECB is expected to continue easing its monetary policy at the upcoming meeting.
    Later on, Fed’s Chair Janet Yellen gives her speech. Market participants might get more confirming evidence that the Regulator will raise its interest rates before the year is out. The futures market is pricing in up to a 75.2% probability of a hike at the December meeting.

    Support and resistance

    On the 4-hour chart, MACD indicator recommends long positions. Stochastic is giving a sell signal – the indicator has left the overbought zone; the %K line has crossed the %D line from top-to-bottom.
    A likelier scenario seems to be continuation of downward movement within a descending channel.
    The nearest support levels are 1.0555, 1.0500.
    The nearest resistance levels are 1.0688, 1.0762, 1.0820.

    Trading tips

    Long positions can be opened if the price breaks out the level of 1.0640 with the target at 1.0685 and stop-loss at 1.0630.
    Short positions can be opened from the level of 1.0590 with targets at 1.0555, 1.0500 and stop-loss at 1.0600.

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  12. LiteForexNews

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    XAU/USD: price of gold declines

    Current trend

    Since the opening of the trading day, the prices of gold and other precious metals are declining amid the strengthening in the US Dollar.
    The correlation between the price of gold and the EUR/USD pair is nearly 92%. The EUR is under strong pressure ahead of ECB interest rate decision, therefore, a decline in the price of gold is likely to continue.
    Demand for the USD, on the contrary, continues growing due to expectations of a hike in US interest rates. At present, gold does not seem to be a profitable investment as borrowing costs of buying and storing it tend to increase.

    Support and resistance

    Though on the daily chart, OsMA and Stochastic recommend long positions, they are giving sell signals on the 4-hour and weekly charts.
    Short positions are preferable. A growth to 1138.00 (38.2% Fibonacci correction and EMA144) seems possible if the price consolidates above the levels of 1085.00 and 1095.00.
    Support levels: 1065.00, 1060.00, 1057.00.
    Resistance levels: 1075.00, 1085.00, 1095.00, 1105.00, 1118.00.

    Trading tips

    Short positions can be opened from the level of 1060.00 with targets at 1050.00, 1010.00 and stop-loss at 1072.00.
    Long positions can be opened from the level of 1076.00 with targets at 1085.00, 1095.00, 1105.00 and stop-loss at 1073.00.

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  13. LiteForexNews

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    AUD/USD: general analysis

    Current trend

    The AUD/USD pair is strengthening, though, according to macroeconomic statistics, Australia’s trade balance deficit grew to 3.305 billion.
    The Australian Dollar is under pressure due to a fall in iron ore prices and uncertainty about China’s economic outlook.
    Today, attention needs to be paid to Initial Jobless Claims and ISM Non-Manufacturing PMI statistics. The ISM Non-Manufacturing PMI is expected to decline from 59.1 to 58.0 points that might affect the US Dollar.

    Support and resistance

    On the 4-hour chart, the pair is trading between the upper and the middle MAs of Bollinger Bands. The price remains above the MA50, MA100 and MA144, all directed up. MACD histogram is in the positive zone, while ADX indicates downward movement.
    Today, the price is expected to trade within the range of 0.7330-0.7287.
    Support levels: 0.7287, 0.7261 (MA50).
    Resistance levels: 0.7330, 0.7342 (local high), 0.7360, 0.7400.

    Trading tips

    Long positions can be opened after the consolidation above the level of 0.7330 with the target at 0.7360 and stop-loss at 0.7315.
    Short positions can be opened from the level of 0.7287 with the target at 0.7250 and stop-loss at 0.7300.

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  14. LiteForexNews

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    Brent: general review

    Current trend

    Yesterday the price of Brent crude oil significantly corrected due to a Dollar decline and prior to the OPEC meeting, which is due today.
    According to the majority of experts, OPEC is not going to reduce quotes despite some speculation that Saudi Arabia can reduce its output. Contrary to that, there is a possibility that quotes will be increased due to Indonesia joining the cartel and Iran’s plans to increase output after sanctions are lifted. Therefore, total output could increase to 31 million barrels instead of today’s 30 million barrels a day. In this case, the price of oil might decline below year lows near the level of 42.46.

    Support and resistance

    The nearest support level is at 42.46 (yesterday low).
    The nearest resistance level is at 44.66 (yesterday high).

    Trading tips

    Short positions can be opened from current prices with the target at 42.46 and stop-loss at 44.66.
    If OPEC decides to reduce quotes at the meeting today, open long positons with the target at 46.44 and stop-loss at 44.00.

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  15. LiteForexNews

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    AUD/USD: Australia Dollar managed to strengthen

    Current trend

    On Thursday, the AUD/USD pair hit its new highs of the week. However, it should be noted that the pair strengthened in the second half of the day, while during the Asian session, the Australian currency was under pressure from weak macroeconomic statistics for October.
    Australia's exports fell by 3% after a 3% growth in September. Imports were down to 0% from previous 2%. As a result, trade balance deficit surged from 2403 to 3305 billion.
    Later on, the pair managed to strengthen amid the Fed Chair Janet Yellen speech. She confirmed the possibility of an interest rate hike at the upcoming meeting, but the Regulator will have to consider the real economic indicators.

    Support and resistance

    Bollinger Bands indicator on the daily chart is growing moderately, while the price range is narrowing down at the bottom. MACD is keeping its upward dynamics, though growth of the histogram is slowing down. Stochastic is in the overbought zone and trying to turn down.
    According to the indicators, a downward correction might form in the short term.
    Support levels: 0.7330, 0.7275, 0.7234, 0.7200, 0.7183, 0.7158 (23 November low).
    Resistance levels: 0.7363 (3 December high), 0.7381 (12 December high), 0.7400 (mid-August level).

    Trading tips

    Long positions can be opened if the price rebounds from the level of 0.7300 (with appropriate indicators signals) with the target at 0.7400 and stop-loss at 0.7260. Validity – 1-2 days.
    Short positions look more preferable and can be opened after the breakdown of the level of 0.7300 with targets at 0.7200, 0.7180 and stop-loss at 0.7350. Validity – 2-3 days.

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  16. LiteForexNews

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    EUR/USD: NFPR had little effect

    Current trend

    Despite strong Friday’s data on the Nonfarm Payrolls in the US, the Dollar could not recover losses of Thursday.
    Nonetheless, November NFPR suggest a steady recovery of the US labour market. The figure came out stronger than was predicted by economists at 211 thousands new jobs, while October figure was revised up from 271 to 298 thousands new jobs. In addition, Average Hourly Earnings in November increased by 0.2%.
    Considering strong recent data from the US, the probability of an interest rate hike in December significantly increases that could lead to the USD strengthening.

    Support and resistance

    For the downward trend to resume the price should consolidate below the support levels at 1.0820 (ЕМА200 on the 4-hour chart, May and July lows), 1.0760 (ЕМА144 on the 4-hour chart).
    At the same time, a consolidation above the level of 1.0890 (ЕМА50 on the daily chart) could allow an upward correction towards the level of 1.1050 (ЕМА144, upper border of a descending channel on the daily chart) to continue.
    On the daily and weekly charts, OsMA and Stochastic suggest a growth continuation, while on the 4-hour chart the indicators are turning to sales.
    Support levels: 1.0820, 1.0760, 1.0700, 1.0600, 1.0560, 1.0500.
    Resistance levels: 1.0940, 1.1050, 1.1180, 1.1285.

    Trading tips

    Pending sell orders can be placed from the level of 1.0845 with targets at 1.0820, 1.0760, 1.0710 and stop-loss at 1.0890.
    Pending buy orders can be placed from the level of 1.0910 with targets at 1.0940, 1.1050, 1.1090 and stop-loss at 1.0880.

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  17. LiteForexNews

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    GBP/USD: general review

    Current trend

    Yesterday the Pound fell against the US Dollar.
    The USD was supported after the publication of Friday’s data on the US labour market. The Unemployment Rate remained unchanged at 5% in line with expectations, while the Nonfarm Payrolls amounted to 211 thousands that was better than forecasted 200 thousands though less than the previous figure of 298 thousands. At the same time, yesterday’s data on the Consumer Credit Change showed a decrease to 15.98 billion Dollars, which was worse than its forecasts.
    Today attention needs to be paid to data on the Industrial Production and BRC Retail Sales Monitor in the UK, and IBD/TIPP Economic Optimism and JOLTS Job Openings in the US.

    Support and resistance

    The nearest support level is at 1.5000 (30 November lows).
    The nearest resistance level is at 1.5080 (moving average with 50 period).

    Trading tips

    Short positions can be opened from current prices with the target at 1.5000 and stop-loss at 1.5080.

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  18. LiteForexNews

    LiteForexNews New Member

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    XAG/USD: in correction

    Current trend

    Yesterday on COMEX, the price of March futures on silver fell by 21.6 cents.
    The pair remains under pressure amid expectations of an interest rate hike in the US in December this year and a further cycle of gradual monetary policy tightening in the US in the next year. In addition, the price of silver is pressured by falling commodities and oil prices.
    Due to the absence of important macroeconomic publications today and prior to meetings of the Bank of England and the Swiss NB that are due tomorrow, the pair will continue moving along a sideways channel.

    Support and resistance

    On the daily chart, the XAG/USD pair is falling along a descending channel with the lower border below the level of 13.50.
    An upward correction in the pair can continue up to the levels of 14.40 (ЕМА144), 14.50 (ЕМА200 on the 4-hour chart). At the same time, a breakdown of the level of 14.00 (year lows) will accelerate the fall and sends the price to 12.30, 13.00 (2009 lows).
    On the daily and weekly charts, OsMA and Stochastic recommend short positions, while on the 4-hour chart they start turning to purchases indicating that the upward correction can continue.
    Support levels: 14.00, 13.80, 13.50.
    Resistance levels: 14.40, 14.50, 14.80, 15.30.

    Trading tips

    Pending sell orders can be placed at the level of 13.95 with targets at 13.50, 13.20 and stop-loss at 14.10.
    Pending buy orders can be placed at the level of 14.30 with targets at 14.40, 14.50, 14.75 and stop-loss at 13.95.

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  19. LiteForexNews

    LiteForexNews New Member

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    USD/JPY: pair fell

    Current trend

    During the last two days the pair substantially fell.
    The pair was pressured by strong data on Machinery Orders for October in Japan that grew by 0.7% and significantly exceeded forecasts. In addition, the Yen is supported be revised data on the GDP for the third quarter that showed a 1% growth, the Consumer Confidence Index for November that increased to 42.6 points and Labour Cash Earnings that grew by 0.7%. At the same time, demand for the Yen as the safe-haven currency could increase prior to meetings by the Bank of England and Swiss NB that are due tomorrow.
    Strong macroeconomic data can push the Bank of Japan to postpone further monetary policy easing that will also support the Yen.

    Support and resistance

    The pair remains above the strong support levels at 122.60 (EMA144), 122.50 (38.2% Fibonacci correction), 122.35 (EMA200 on the 4-hour chart), a breakdown of which would send the price towards 122.15 (EMA50 on the daily chart). A farther fall is restricted by support levels at 121.50 (50% correction), 121.35 (ЕМА144), 120.60 (61.8% correction, EMA200).
    On the 4-hour and daily charts OsMA and stochastic recommend sales.
    Support levels: 122.60, 122.50, 122.35, 122.15, 121.50.
    Resistance levels: 123.00, 123.50, 123.70, 124.00, 124.50.

    Trading tips

    Pending buy orders can be placed at the level of 123.10 with targets at 123.50, 123.70, 124.00, 124.50 and stop-loss at 122.80.
    Pending sell orders can be placed at the level of 122.50 with targets at 122.35, 122.10, 121.80, 121.00, 120.70 and stop-loss at 122.80.

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  20. LiteForexNews

    LiteForexNews New Member

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    NZD/USD: general review

    Current trend

    The Reserve Bank of New Zealand decreased its key interest rate from 2.75% to 2.5% in line with expectations. However, the NZD grew against the USD and approached last week highs.
    In its Rate Statement, the regulator stated that it expects stability in the near future with regards to the interest rates. The RBNZ is not going to dismiss completely an option of further policy easing if needs but it is unlikely to happen soon, which is a positive factor for the national currency.

    Support and resistance

    On 4-hour chart, the pair is trading between the middle and upper MA’s of Bollinger Bands. Moving averages with 50, 100 and 144 periods remain below the price and directed up indicating an upward trend in the pair. MACD histogram is in the positive zone and its volumes are gradually growing. DI lines of the ADX indicator are crossing each other and directed down.
    Support levels: 0.6719, 0.6675, 0.6659 (middle MA of Bollinger Bands, MA50), 0.6636 (MA100), 0.6578, 0.6470, 0.6428.
    Resistance levels: 0.6747, 0.6787 (last week high).

    Trading tips

    Short positions can be opened from the level of 0.6719 with the target at 0.6675 and stop-loss at 0.6747.
    Long positions can be opened after the price consolidation above the level of 0.6747 with the target at 0.6787 and stop-loss at 0.6719.

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