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Forex News Analysis by LiteForex

This is a discussion on Forex News Analysis by LiteForex within the Analytics and News forums, part of the Trading Forum category; liteForex USD/CHF: dollar is under pressure Current trend During the trading session on Tuesday, October, 10, the US dollar is ...

          
   
  1. #461
    Junior Member MikhailLF's Avatar
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    liteForex USD/CHF: dollar is under pressure

    Current trend

    During the trading session on Tuesday, October, 10, the US dollar is strongly going down against Swiss franc and stepped away from the local highs, renewed in the end of the last week. The instrument is falling due to the weak positions of the US currency against the decrease of the US bonds’ yield and anticipation of publication of FOMC Minutes on October, 11. In addition, the traders reacted negatively to the news that Trump’s Administration postponed the implementation of the tax reformation, which had been announced recently.
    On the other hand, franc is supported by the strong employment market data publications: the unemployment level in Switzerland decreased from 3.2% to 3.1% in September, which was better than the analysts expected.


    Support and resistance

    On the daily chart Bollinger Bands are moderately growing. The price range is insignificantly narrowing, reflecting the flat trading mood of the recent days. It’s better to use the channel trading strategy.
    MACD is going down, keeping a weak sell signal (the histogram is below the signal line). It’s better to keep opened short positions in the short term, but not to open new ones before additional signals appear.
    Stochastic is going down, being in the center of its working area. The indicator’s readings don’t contradict with the development of the “bearish” dynamics in the short or very short term.
    Resistance levels: 0.9767, 0.9800, 0.9834.
    Support levels: 0.9732, 0.9707, 0.9677, 0.9650.


    Trading tips

    Long positions can be opened after the breakout of the level of 0.9800. Take profit is 0.9850–0.9880. Stop loss is 0.9760. Implementation period: 2–3 days.
    The alternative is the return of the strong “bearish” trend with the breakdown of the level of 0.9732. The targets will be at the levels of 0.9677 or 0.9650. Stop loss is 0.9767. Implementation period: 2-3 days.



  2. #462
    Junior Member MikhailLF's Avatar
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    liteForex GBP/USD: pound is growing

    Current trend

    British currency is moderately growing against the US dollar, renewing the weekly highs due to the increasing pressure on USD. The negative dynamics was supported by FOMC Minutes publication, which decreased the market’s belief in the interest rate rise in the end of 2017.
    After the report publication the investors focused on Friday’s US September consumer inflation data. In addition, after the key releases publication, the some Fed’s officials will present their renewed forecasts of the regulators’’ monetary policy development.

    Support and resistance

    On the daily chart Bollinger Bands are moderately falling. The price range is narrowing actively, reflecting the change of the trend in the short term. The breakout of the resistance levels around the middle line of the instrument can be significant.
    MACD has reversed into growing, forming a buy signal (the histogram is above the signal line). The indicator is trying to consolidate above the zero line. It’s better to keep current opened long positions and open new ones in the short or very short term.

    Stochastic is moving upwards, but is reaching its highs, which reflects that the instrument is overbought in the short term, and the flay dynamics can appear in the end of the week.

    Resistance levels: 1.3290, 1.3327, 1.3400, 1.3454.
    Support levels: 1.3218, 1.3148, 1.3110, 1.3042.

    Trading tips

    Long positions can be opened after the breakout of the level of 1.3290 with the targets at 1.3400–1.3450. Stop loss is 1.3218. Implementation period: 2-3 days.
    If the instrument meet a significant resistance around the levels of 1.3290–1.3300, in the end of the week the correctional fall can develop with the rebound to the level of 1.3300. Take profit is 1.3100. Stop loss is 1.3350. Implementation period: 2 days.


  3. #463
    Junior Member MikhailLF's Avatar
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    liteForex EUR/USD: mixed dynamics in the end of the week

    Current trend

    During the trading session on Thursday, October, 12, European currency fell against the US dollar, stepping back from the maximum of September, 25. The downward trend is due to the positive US Initial Jobless Claims data and Producer Price Index, which let the investors hope that Friday’s Consumer Price Index will be strong.
    On October, 6, the Initial Jobless Claims indicator fell 258K to 243K, while the analysts expected the value of 251K. The Consumer Price Index grew by 0.4% MoM and 2.2% YoY in September, which exceeds the analysts’ expectations of +0.2% MoM and +2.0% YoY.

    On Friday, October, at 14:30 (GMT+2) the block of key September statistic of retail sales and consumer inflation will be published in the USA. After FOMC Minutes, published this week earlier, the investors are focused on the price dynamics, as it can affect Fed’s decision upon the interest rate rise.


    Support and resistance

    On the daily chart Bollinger Bands’ dynamics is flat. The price range is not widening, being quite narrow for the current volatility level. It’s better to use channel trading strategy.

    MACD is growing, keeping quite strong buy signal (the histogram is above the signal line) and trying to consolidate above the zero line. It’s possible to keep some of the current long positions in the short term, but not to open new ones.

    Stochastic has crossed the level of 80 and reversed into flat, reacting to the “bearish” dynamics on Thursday, October, 12. The indicator reflects that the correctional fall is possible in the short term.
    Resistance levels: 1.1860, 1.1878, 1.1909, 1.1950.
    Support levels: 1.1820, 1.1800, 1.1755, 1.1730.


    Trading tips

    Long positions can be opened after the breakout of the level of 1.1860–1.1878 with the target at 1.1950. Stop loss is 1.1820–1.1830. Implementation period: 2-3 days.
    The correctional dynamics development and the breakdown of the levels 1.1820–1.1800 can be the signal to open short positions with the target at 1.1700. Stop loss is 1.1850. Implementation period: 2-3 days.



  4. #464
    Junior Member MikhailLF's Avatar
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    liteForex USD/CAD: the pair is trading in different directions

    Current trend

    Last Friday the pair’s dynamics was controversial after the US consumer inflation and retail sales data publications, and now the US dollar is growing insignificantly against Canadian currency.
    The Friday’s US data weren’t’ disappointing, but the investors are lesser and lesser believing in another Fed’s interest rate rise this year. However, after the Michigan Consumer Sentiment Index publication part of the optimistic moods restored. In October the index grew to the record level of 101.1 points from 95.1 points in September, while analysts expected the growth to 95.0 points.
    During the morning session on October, 16, the pair is in correction, waiting for new signals. In particular, the Bank of Canada Business Outlook Survey will be released at 16:30 (GMT+2).

    Support and resistance

    On the daily chart Bollinger Bands are reversing into flat. The price range has narrowed to the minimum, reflecting the controversial trading dynamics of the recent days. It’s better to wait until new trading signal appear.
    MACD is decreasing, keeping a weak sell signal (the histogram is below the signal line). Taking into the consideration the recent flat dynamics, the signal is not worth believing, but the current short positions in the short term can be kept for some time.
    Stochastic is reversing upwards near the level of 20, which is conditional border of the oversold area. The indicator’s readings reflect the possibility of correctional growth development in the short or very short term.
    Resistance levels: 1.2500, 1.2537, 1.2597.
    Support levels: 1.2447, 1.2414, 1.2300, 1.2238.

    Trading tips

    Open long positions after the breakout of the levels of 1.2500 or 1.2537 with the targets at 1.2600–1.2650. Stop loss is 1.2450–1.2470. Implementation period: 2 days.
    The reversal near the current levels and the breakdown of the levels 1.2447 or 1.2414 can be the signal to open short positions with the target at 1.2300. Stop loss is not further than 1.2500. Implementation period: 2–3 days.

  5. #465
    Junior Member MikhailLF's Avatar
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    liteForex GBP/USD: the pound is under pressure

    Current trend

    The British currency showed a fall against US dollar as a result of trading on Monday, October 16, moving away from local maximums updated last Friday. The reason for negative dynamics were new concerns about Brexit negotiations. Its participants failed to reach visible results despite 5 rounds of talks.
    Moreover, the pound was under pressure from expectations about the release of the data on consumer inflation from the UK and Eurozone on Tueday. The block of British statistics is due at 10:30 (GMT+2), while European data will become available at 12:00 (GMT+2). Annual consumer prices growth rate in the UK is expected to reach 3.0% in September. MoM current growth rate is likely to considerably slow down from +0.6% to +0.3%.

    Support and resistance

    Bollinger Bands in D1 chart are developing downward dynamics gradually reversing horizontally. The price range is narrowing. MACD histogram is growing, preserving a weak buy signal (the histogram is above the signal line). Stochastic has reversed downwards near its maximum values.
    Resistance levels: 1.3290, 1.3336, 1.3400, 1.3454.
    Support levels: 1.3218, 1.3148, 1.3118, 1.3025.

    Trading tips

    Long positions may be opened after breaking through the levels of 1.3290, 1.3300 with targets at 1.3400, 1.3450 and stop-loss at 1.3240. The period of implementation is 2-3 days.
    The development of corrective dynamics with a breakdown of the level of 1.3218 may be a signal for further sales with targets at 1.3118, 1.3100 and stop-loss at 1.3270. The period of implementation is 1-2 days.


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