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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 analitics. EUR/USD: the pair is growing Current trend Yesterday, the EUR/USD pair rose within the correction after the “bearish” ...

          
   
  1. #661
    Senior Member MikhailLF's Avatar
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    LiteForex analitics. EUR/USD: the pair is growing

    Current trend

    Yesterday, the EUR/USD pair rose within the correction after the “bearish” start of the week, which led to a renewal of the lows since August 20. EUR was supported by USD correction due to a decline in the 10-year government bonds’ yield. Data on Industrial Production from France and Italy affected the instrument positively, too. Thus, August Industrial Production in France rose by 0.3% MoM, which is noticeably worse than the dynamics of last month (0.8% MoM), but still better than analysts' forecasts (+0.1% MoM). The corresponding index in Italy rose by 1.7% MoM against a decrease of 1.6% MoM last month. Experts expected the growth only by +0.8% MoM.

    This morning, the pair continues to grow. Investors are waiting for new drivers: ECB meeting report and a block of US September macroeconomic statistics on consumer inflation.

    Support and resistance

    On the daily chart, Bollinger bands are actively falling. The price range narrows, reflecting a sharp change in the trade direction in the short term. MACD reversed upwards, forming a buy signal (the histogram is above the signal line). Stochastic is growing, rapidly approaching its highs, which reflects that EUR will become overbought soon.

    It is better to keep current long positions until the situation is clear.

    Resistance Levels: 1.1580, 1.1615, 1.1657, 1.1700, 1.1732.
    Support levels: 1.1547, 1.1522, 1.1500, 1.1460, 1.1430.

    Trading tips

    Long positions can be opened after the breakout of the level of 1.1580 with the target at 1.1657 or 1.1700. Stop loss is 1.1540.
    Short positions can be opened after the rebound from the level of 1.1580 and the breakdown of the level of 1.1547 with the targets at 1.1500 or 1.1475–1.1460. Stop loss 1.1580–1.1590.

    Implementation period: 2–3 days.


  2. #662
    Senior Member MikhailLF's Avatar
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    LiteForex analitics. EUR/USD: general review

    Current trend

    The pair started the week with the growth and reached 1.1575. USD was under pressure after comments by the US president.

    Donald Trump did not rule out the introduction of higher tariffs for Chinese goods if the PRC does not open its markets and does not enter into a fair agreement with the US. Washington has implemented three rounds of increasing duties, overlaying Chinese imports totaling USD 250 billion. White House economic adviser Larry Kudlow said that the US President Donald Trump and Chinese leader Xi Jinping should meet in November at the G20 summit in Argentina, where trade talks between the parties are likely to continue.

    The data on retail sales in the United States is due today. In September, the indicator may rise from 0.1% to 0.7%, which may cause the beginning of a decline in the instrument.

    Support and resistance

    The key level for the "bulls" is 1.1596, which is near the center line of Bollinger Bands. If the price consolidates above it, the growth to the levels of 1.1657 (Murrey [6/8]) and 1.1718 (Murrey [7/8]) may continue. A breakdown of the level of 1.1535 (Murrey [5/8]) will give the prospect of continuing the decline to 1.1474 (Murrey [4/8]) and 1.1413 (Murrey [3/8], the bottom line of Bollinger Bands). Technical indicators do not provide a clear signal. MACD histogram is reduced in the negative zone. Stochastic is directed upwards but is approaching the overbought area, which may lead to a downward reverse.

    Resistance levels: 1.1596, 1.1657, 1.1718.
    Support levels: 1.1535, 1.1474, 1.1413.

    Trading tips

    Short positions could be opened below 1.1535 with targets at 1.1474, 1.1413 and stop loss at 1.1580.
    Long positions may be opened above 1.1600 with target at 1.1657, 1.1718 and stop loss at 1.1570.

    Implementation period: 4-5 days.


  3. #663
    Senior Member MikhailLF's Avatar
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    LiteForex analitics. EUR/USD: euro is restoring

    Current trend

    After a rapid downward trend, the EUR/USD pair entered a wide sideways consolidation. At the beginning of last week, the price dropped to a strong support level of 1.1430, where it reversed and began to strengthen. The main growth catalyst was the decline in demand for the US currency due to the publication of negative releases on inflation, the labor market, retail sales, and major US indices, while positive data on industrial production released in EU.

    Today, US Industrial Production data will be published, and FOMC Meeting Minutes release is expected tomorrow. At the end of the week, special attention should be paid to EU inflation statistics.

    Support and resistance

    In the short term, a significantly overbought dollar reacts sharply to negative releases in major sectors of the economy and is falling. If the upward momentum of the instrument maintains, the pair may rise to the key resistance levels and local highs of the last five months at the levels of 1.1800, 1.1830, 1.1850.

    On the daily chart, the technical indicators confirm a high probability of a reversal: the MACD volumes of short positions are decreasing, Bollinger bands are pointed sideways.

    Resistance levels: 1.1600, 1.1665, 1.1690, 1.1730, 1.1775, 1.1800, 1.1830.
    Support levels: 1.1550, 1.1515, 1.1500, 1.1430, 1.1400, 1.1370, 1.1300.

    Trading tips

    It is relevant to increase the volumes of long positions from the current level with the targets at 1.1800, 1.1830, 1.1850 and stop loss 1.1460.


  4. #664
    Senior Member MikhailLF's Avatar
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    LiteForex analitics. XAG/USD: general analysis

    Current trend

    Since the opening of the European session, the price of silver is growing but the downward trend is still relevant. A key support level is around 5/8 Murrey or 14.55. If the price consolidates below it, then the next target will be the level of 14.00.

    The precious metals are under pressure of the Fed’s aggressive policy, which continues to raise interest rates and provides an increase in government bonds’ yield and makes these instruments attractive for investment. On the other hand, criticism of the regulators’ actions by Donald Trump may affect the global balance of power in the market, and as monetary policy changes, silver will increase again. Nevertheless, the US economy continues to grow, and many economists believe that there is no point in mitigating the policy. Thus, the published data on Industrial Production for September increased by +5.1%. Capacity Utilization decreased slightly to 78.1% against a forecast of 78.2%, which may be a short-term recession, which will reverse upwards again.

    Support and resistance

    Stochastic is at 22 points and reflects a possibility of a correction.
    Resistance Levels: 14.74, 14.84.
    Support levels: 14.55, 14.00.

    Trading tips

    Short positions can be opened after the breakdown of the level of 14.55 with the target at 14.00 and the stop loss at 14.74.


  5. #665
    Senior Member MikhailLF's Avatar
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    LiteForex analitics. USD/CHF: technical analysis

    USD/CHF, D1

    On the D1 chart, the pair is strengthening in the upper part of Bollinger Bands. The indicator is directed upwards, and the price range expanded, indicating further growth of the pair. MACD histogram is in the positive zone keeping a buy signal. Stochastic has entered the oversold area; a strong sell signal can be formed during 2-3 days.

    USD/CHF, H4

    On the H4 chart, the instrument is testing the upper boundary of Bollinger Bands. The indicator is directed horizontally and the price range expanded, which serves as a basis for continuing uptrend. MACD histogram is in positive zone, keeping the buy signal. Stochastic is about to leave the overbought area; a sell signal can be formed during the day.

    Support and resistance

    Resistance levels: 0.9959, 1.0003, 1.0035, 1.0060.
    Support levels: 0.9916, 0.9883, 0.9841, 0.9804, 0.9760, 0.9706.

    Trading tips

    Long positions may be opened from the current level with target at 1.0030 and stop loss at 0.9915. Implementation period: 1-3 days.
    Short positions may be opened below 0.9910 with target at 0.9840 and stop loss at 0.9940. Implementation period: 2-3 days.


  6. #666
    Senior Member MikhailLF's Avatar
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    LiteForex analitics. EUR/USD: euro remains under pressure

    Current trend

    Yesterday, EUR fell significantly against USD, renewing its lows since October 10, due to the general strengthening of USD after strict Fed’s statements on further interest rate growth. USD was additionally supported by a sharp decline in the Chinese yuan, which continues today due to poor data on China's Q3 GDP.

    EUR is under pressure of uncertain Brexit prospects and the tightening of the situation around the Italian budget for the next year. Yesterday, investors were focused on the summit of EU leaders in Brussels. There were no new proposals to solve the Irish border problem, and an agreement with the UK was not concluded. However, officials are developing a new mechanism to allow the UK to leave the EU as painlessly as possible. The idea is to extend the negotiations on the Irish border for a certain period after the end of the Brexit procedure itself.

    Support and resistance

    On the daily chart, Bollinger bands are moderately reduced. The price range is narrowing, letting the "bears" renew local lows. MACD is decreasing, keeping a moderate sell signal (the histogram is below the signal line). Stochastic falls, however, is in close proximity to zero values, which reflects that EUR is oversold in the super short term.

    It is better to keep current short positions until the situation is clear.
    Resistance levels: 1.1460, 1.1500, 1.1522, 1.1547.
    Support levels: 1.1430, 1.1400, 1.1352.

    Trading tips

    Long positions can be opened after a reversal near the current support levels and the breakout of 1.1460–1.1470 with the target of 1.1580 or 1.1600. Stop loss is 1.1430. Implementation period: 2–3 days.
    Short positions can be opened after the breakdown of 1.1430 with the target at 1.1352. Stop loss is 1.1460–1.1470. Implementation period: 1–2 days.


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