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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 NZD/USD: Murray analysis Current trend On the daily chart the price rebounded from the level of 0.6958 ([2/8]) and ...

          
   
  1. #481
    Member MikhailLF's Avatar
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    liteForex NZD/USD: Murray analysis

    Current trend

    On the daily chart the price rebounded from the level of 0.6958 ([2/8]) and is tending to the level of 0.6835 ([0/8]), which it has tested in the end of October already. The level was unsuccessfully tested this May, too, so it is quite strong. After the breakdown of it the price can fall to the levels of 0.6775 ([–1/8]) and 0.6714 ([–2/8]), which is confirmed by Stochastic, which is pointed downwards. However, the reversal and breakout of the middle line of Bollinger Bands and the level of 0.6958 ([2/8]) is not excluded, as the price is reaching the lower border of Bollinger Bands. In this case the price can grow to the levels of 0.7020 ([3/8]), 0.7080 ([4/8]) and 0.7141 ([5/8]).

    Support and resistance

    Support levels: 0.6835 ([0/8]), 0.6775 ([–1/8]), 0.6714 ([–2/8]).
    Resistance levels: 0.6958 ([2/8]), 0.7020 ([3/8]), 0.7080 ([4/8]), 0.7141 ([5/8]).

    Trading tips

    Long positions can be opened after the reversal of the price around 0.6835 or above the level of 0.6958 with the targets at 0.7020 and 0.7080 and stop loss at 0.6800 and 0.6900.
    Short positions can be opened below the level of 0.6775 with the targets at 0.6714, 0.6670 and stop loss at 0.6810.


  2. #482
    Member MikhailLF's Avatar
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    EUR/USD: inflation is pushing the pair downwards

    Current trend

    On Wednesday the pair started correction from the level of 1.1840 (Murrey [1/8] for D1). USD was supported by positive data on inflation in the USA. Basic CPI that the Fed uses to make decisions on changes in the interest rate, grew by 1.8% (after remaining on the level of 1.7% for five months). This gave the investors confidence that the regulator would increase the interest rate during its December meeting.
    Today’s inflation statistics from Eurozone was negative for euro. CPI remained on the level of 1.4% and its basic variant dropped from 1.1% to 0.9%. Moreover, the European currency is under pressure from the data that German Chancellor Angela Merkel has problems forming the new German government.

    Support and resistance

    Currently the price is moving towards the level of 1.1718 (Murrey [0/8] for D1) and may well reach it if today’s data on US industrial output prove to be strong (the indicator is expected to grow from 0.3% to 0.5%). Breaking down the level of 1.1718 will open the way for further decrease to 1.1657 (Murrey level [3/8] for Н4) and 1.1596 ([-1/8] for D1). One may speak about considerable growth after the price breaks out the level of 1.1840. In this case the targets of the “bulls” will be 1.1900 (Murrey level [7/8] for H4) and 1.1962 ([2/8] for D1). Technical indicators show opposite signals. Stochastic is leaving the overbought area forming a sell signal. MACD histogram is about to move to the positive zone and form a buy signal.

    Support levels: 1.1718, 1.1657, 1.1596.
    Resistance levels: 1.1840, 1.1900, 1.1962.

    Trading tips

    Short positions should be opened at the current price with targets at 1.1718, 1.1657 and stop-loss at 1.1790.
    Long positions may be opened above 1.1840 with targets at 1.1900, 1.1962 and stop-loss 1.1800.


  3. #483
    Member MikhailLF's Avatar
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    NZD/USD: downward impulse maintains

    Current trend

    New Zealand Currency is significantly falling against the US dollar after the interest rate decision and RBNZ Statement upon the maintenance of the mild monetary policy in the long term.
    In the middle of the last week in RBNZ statement was claimed that the key interest rate will stay on the same level, so the monetary policy perspectives are unclear. It was also noted, that low rate of the national currency is necessary to increase the inflation rate.
    Today the pair rapidly went down, breaking few of the key support levels. Poor Business NZ PMI, Producer Price Index – Input and Output data affected the pair negatively. The pair has lost 100 points in a few hours, and downward momentum maintains.
    As there is lack of US key releases in the economical calendar, the pair will move according to the trading moods.

    Support and resistance

    The pair will fall to the key levels of 0.6770, 0.6680, 0.6575. Insignificant upward correction at the level of 0.6770 with the target at 0.6820 is possible, but after it the pair will decrease further. Technical indicators confirms the forecast, MACD reflects the growth of short positions volumes, Bollinger Bands are pointed downwards.

    Resistance levels: 0.6820, 0.6875, 0.6920, 0.6975, 0.7010, 0.7050.
    Support levels: 0.6770, 0.6730, 0.6680, 0.6575, 0.6500.

    Trading tips

    It’s better to increase the volume of short positions at the current level with the targets at 0.6770, 0.6680, 0.6575 and stop loss at 0.6860


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