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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; XAG/USD: technical analysis 2019-08-14 09:42 (GMT+2) Silver XAG/USD, H4 On a 4-hour chart, the instrument is trading within a sideways ...

          
   
  1. #841
    Senior Member MikhailLF's Avatar
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    XAG/USD: technical analysis
    2019-08-14 09:42 (GMT+2) Silver
    XAG/USD, H4

    On a 4-hour chart, the instrument is trading within a sideways channel formed by the boundaries of Bollinger bands. The pair was corrected to the midline of the indicator, the formation of a side trend continues. The MACD histogram is in the positive area, keeping a signal to open long positions. Stochastic is in the neutral zone, the oscillator lines are reversing upwards.

    XAG/USD, D1

    On the daily chart, the uptrend is still in force. The instrument is trading near the upper border of Bollinger bands, the indicator cloud is narrowing. The MACD histogram is in the positive area, while keeping a confident signal to open buy orders. Stochastic is in the neutral zone, the oscillator lines are reversing downwards from the border with the overbought zone.

    Key levels

    Resistance levels: 16.98, 17.10, 17.24, 17.37, 17.51.
    Support levels: 16.81, 16.67, 16.57, 16.49, 16.35, 16.25, 16.11, 15.92.

    Trading tips

    Long positions can be opened from the current level with the target at 17.37 and stop loss 16.67.
    Short positions can be opened from the level of 16.65 with the target at 16.25. Stop loss 16.85.
    Implementation period: 13 days.

  2. #842
    Senior Member MikhailLF's Avatar
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    Brent Crude Oil: general analysis
    2019-08-16 08:33 (GMT+2) Brent
    Current trend

    Oil prices are falling. One of the reasons for the fall of "black gold" is associated with a slowdown in the global economy. Thus, statistics from China reflected an unexpected record drop in industrial production to 4.8% against the forecast of 5.8%, the last time such data were recorded 17 years ago. Investors were also disappointed with the German GDP, which has declined in the second quarter.

    The second factor, which also negatively affected quotes, was the publication of data on commercial US oil reserves, which grew by 1.58 million barrels against the forecast of 2.78 million barrels. As for the total oil production, it remained at the same level of 12.3 million barrels per day. If the trend continues, it is possible that OPEC may intervene in order to balance the market by reducing energy production.

    Today, traders will focus on data on the number of active drilling rigs from Baker Hughes.

    Support and resistance

    Stochastic is around 23 points and does not give signals for opening positions.
    Resistance levels: 59.55, 61.40.
    Support levels: 57.71, 56.10.

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