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Re: SuperForex - Company News

This is a discussion on Re: SuperForex - Company News within the Forex Brokers forums, part of the Trading Forum category; Technical analysis of the currency pair AUD/USD on 16/02/2017. The daily chart General analysis During this week the price of ...

          
   
  1. #21
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    Technical analysis of the currency pair AUD/USD on 16/02/2017. The daily chart

    General analysis
    During this week the price of the currency pair AUD/USD has risen slightly more than 130 points and came close to the support level at 0.7700.

    If we consider US dollar in a global market we can note that price for this currency increases in relation to all the main quotes but nevertheless now we see a pause in the growth and soon we expect a correction against the general uptrend.

    Recently the price has already approached several times to the level of support at 0.7700 and all the times it was an insurmountable wall for the currency pair and the price could not break it.

    Comparing the Stochastic indicator chart with price graph we can see a clear divergence which was formed last Friday. Such trading signal on the daily chart and with and rising market it is quite strong signal to sell the US dollar and it cannot be ignored.

    Next few days
    Considering the overall situation in the market for the US dollar, price closeness to a significant support level 0.7700 and the presence of divergence in the graph we have all the signals for the opening of sales for AUD/USD.
    The general trend is still increasing but today there is the most favorable situation to play on the rollback of the price.

    During this week, we are likely to see a decrease to at least 0.7610 or even further to 0.7500.


  2. #22
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    USD/JPY: Technical Overview during Dollar Holiday

    The US dollar rose last Friday against most major currencies ahead of the President's Day long weekend which would end today, but the Japanese yen was stronger than the dollar, so the pair recorded a new low last week at 112.55.

    The USD/JPY pair is trading now at 113.10 after it declined to the lowest price last week at 112.55 to retest the broken trend line and rose back again. Now the pair is trading between the demand zone at 111.80 and the resistance area at the SMA at 113.32 so we have to wait for the pair break the SMA and close H4 candle above it to buy the pair. The RSI indicator is giving us a buy signal and so does the stochastic indicator.

    The Next Few Days

    Based on this analysis we can buy the pair once it breaks the SMA and trades above it - we should keep our first target around the previous top at 114.70 and the second target at 161.8% Fibonacci from the last down wave from 114.92 to 112.59, so our extension percentage will be at 116.20, unless the pair breaks the trend line again and trades below it, in which case we would sell the pair to 109.40 at the 50% fibo from the uptrend wave which started on September 27.

    We have to keep an eye out for any economic news that may effect the market such as the FOMC meeting next Wednesday and Unemployment Claims on Thursday.


  3. #23
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    Technical analysis of the currency pair EUR/СHF on 21/02/2017. The daily chart

    General analysis.
    From the moment of opening of the market this week currency EUR/СHF pair is trading without significant volatility and practically without any growth or decline. Right now, the price is located at the same level as it was at opening time on Monday - 1.0665. On the graph, we can see a clear upward movement during the last week without any corrections. At the moment, the price is approaching to the support level on the mark 1.0630 and we have all the reasons to expect a ęreboundĽ from it.
    Traders should attentively follow the market in next few days and after receiving confirmation about the "rebound" from the level opens long deals with a medium volume.
    Stochastic indicator shows the movement of the signal lines in the overbought zone and at the moment we see them crossing of it and the penetration level 20 from the bottom up, that is a signal to buy.
    Next few days
    Today, it is too early to open long since the bottom of the downward movement was not formed yet and there is a high probability of "false breakouts". But at the same time, it is too late to open long.
    We recommend opening for buy after the bottom formation at the level of 1.0630 with target points of taking profit at the mark 1.0670. Order S/L can be set up by 20-30 points lower than the downward movement bottom.


  4. #24
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    Technical analysis of the currency pair EUR/USD on 28/02/2017. The daily chart
    General analysis
    Since the beginning of February the rate for the currency pair EUR/USD has started to decline and now approached to the support level - 1.0550.
    Level 1.0550 acted as resistance level for the price previously, also the price tested it on both sides and now the price again has approached the level of 1.0550 and the decline has stopped. Last fall to this support was the last week and price successfully strayed up from it.

    This week the price again approached to the level of 1.0550 and the last two daily candle closed as a "doji" thereby forming a bottom.

    Also today we should pay attention to news coming out of the USA, for today we going to see the publishing of the data about the United States GDP, Consumer Confidence rate and the speech of the President Trump. Usually the output of such data has a significant impact on the market movement.

    We recommend expected major news from the USA and if there will not big surprises open the deal to buy after formation of a "double bottom" at the level of 1.0550.


  5. #25
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    Technical analysis of the currency pair AUD/USD on 02/03/2017. The daily chart

    General analysis
    Currency pair Australian dollar / US dollar over the past few months shows a clear up trend without any significant corrections. Upward movement started from the beginning of 2017 and at present makes 600 points. However, last week the price reached the 0.7700 resistance level which for almost a year make a serious impact on the price movement.

    A large number of times the price bounced back from this level and never being able to overcome.
    At the moment, the price reached to the 0.7700 resistance level ones again and two indicators show a confirmation of a signal to sell at the same time - the Stochastic and moving average (14).

    Stochastic shows a clear divergence for the last few price peaks, which is also a signal to sell short the AUD / USD.
    Also, the price crossed the moving average (14) from top to bottom and successfully entrenched below the line, which also indicates a bearish trend.

    We recommend to open short positions on the currency pair AUD / USD with the target points profit taking at levels 0.7570 and 0.7520.



  6. #26
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    Daily analysis for the currency pair EUR/GBP on 07.03.2017.

    General analysis
    During the last 8 trading days, the EUR / GBP currency pair shows a clear growth absolutely without any correction. The growth value was about 280 points. At the moment, the price have closely approached to the resistance at around 0.8700 and the best solution is to take the current profit on long positions.
    The further upwards movement is quite possible but you should receive a confirmation of the breakdown of the resistance level of 0.8700 before continuing to play long.
    Over the past six months, the price has repeatedly demonstrated a retreat from this level and we can confidently expect a certain reaction in the movement of the price as it approach to this level again.
    The most likely we will see a retreat from this mark as it also coincides a with the Fibonacci correction level of 61.8 percent of the last downward movement.
    When receiving a confirmation of the release or level breakdown, we should play in the same direction.
    The target profit-fixing points for EUR / GBP on a way down is 0.8550 and 0.8470.


  7. #27
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    Technical analysis of the currency pair GBP/USD on 09/03/2017. The daily chart

    General analysis
    Over the past month the currency pair GBP/USD had been sideways movement in the frame of long-term downward movement.
    Right now, here is probability of formation the market turning point and the continuation of the downward movement. At the moment, the price is trading in the range of 1.2130 - 1.2760
    Of course, it would be safer for us to trade after a confirmation about the rebound from the significant level of support at 1.2130. But, unfortunately, not everything goes the way how we want to. The beginning of the continuation of the downward movement most likely already began and we should have time to "jump into the departing train".
    Current situation on the daily chart
    During the last two trading weeks currency pair GBP/USD has been showing a high volatility and decreased by 410 points. Price reached the local level of support at 1.2130 and right now is located close to it.
    A predictions of the course of events in a next few days
    Long positions on GBP/USD is not relevant at the moment and it is probably going to 1.2000.
    Considering presence of medium-term downtrend we recommend open short after a penetration of support level at a 1.2770 with target points on profit-taking at 1.2050 и 1.2000.


  8. #28
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    AUD/CAD: fundamental review and forecast

    The rates of the AUD/CAD continue in the frames of uptrend which has been formed in the beginning of the year. The canadian dollar is under the pressure of the record low oil prices this year. The price of oil fell for the week from 54 to 48 dollars per barrel for CL/WTI, contrary the forecasts for further stabilization of the market amid reduction of oil production. OPEC continues to say that the countries who joined the Agreement on the reduction of oil abide it in 90%. However, this somehow allows Saudi Arabia to increase oil production. Signals about increasing of oil production coming to the market regularly, and investors react it. In any case, the USA not even going to reduce oil extraction: the number of drilling rigs increases, and hence the volume of oil production will only be increasing. In such conditions, whatever OPEC do, they will not be able to stabilize oil prices.
    Positive employment data in Canada, in particular, the increasing of the number of jobs at 15300 against the forecasted 2500, the level of unemployment at 6.6%, against forecasted 6.8%, couldn't change the situation for CAD. The rapid decline in oil prices was too rapid for the canadian currency.
    The Australian dollar feels against the canadian more confident.
    The market reacted positively to the RBA's decision to leave interest rates unchanged. Yesterday, AUD was further supported by encouraging new statistics on the economy of China, where the volume of investment in basic capital was 8.9%, which is a very high and shows investor's confidence in China's economy, despite the negative aspects, such as data on the trade deficit of China for the first time in 3 years, and decreasing in exports.
    On the AUD/CAD chart, we can't see the signs for trend reversal. Oscillator MACD is neutral. Stochastics expects a price correction, and offers to open a short deals against the trend. Such deals may be effective upon short-term trading. In addition, the price correction is expected on the oil market, which can support CAD. But upon the medium-term trading it is better in this situation to open the deals to BUY.


  9. #29
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    Daily analysis for the currency pair EUR/GBP on 16.03.2017.

    General analysis
    Currency pair EUR / GBP continues to trade with an upward trend but the price was broken through resistance level 0.8700 and successfully fixed above this level.
    Then the price has formed a reverse testing of the level 0.8700, which itself acts as confirmation for further bullish movement on the EUR / GBP pair.
    The moving average (14) also confirms the presence of an uptrend. Furthermore yesterday the price pushed up from this moving average, thereby giving us one more signal that the bullish direction of the movement still overcomes the bearish.
    However, the chart of the Stochastic indicator shows a decrease, but at the moment both signal lines of the indicator are in the neutral zone so we cannot bet this signal to much.
    We recommend to open long positions for the EUR / GBP currency pair with target profit-taking points at 0.8830 and 0.8850.


  10. #30
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    GBP/CAD Technical Outlook after the CPI

    A few minutes ago the CPI figures were released and came out 2.3% higher than expected at 2.1%, as well as higher than the previous data. As a result from the news from the UK the GBP has risen against all currencies. The pair weíll be talking about today is GBP/CAD which rose by more than 80 pips after the news and is still rising at this moment.

    The Currency pair is trading now around 1.6600 which is a key resistance area for several reasons. Itís a psychological level and is around 61.8% Fibonacci from the down wave from 1.7116 to 1.5735 - it is expected to decline from it and resume the down wave again. We have a supply zone at 1.6619 which is center for the bears and sellers; we can sell from there when the following conditions are completed.

    The Stochastic indicator has reached the distribution area above 80 level and we are waiting for the 2 lines to cross above this level. The RSI is ahead to 90 level to make the distribution from there too.

    The Next Few Days

    Based on the analysis above, the pair is in a key resistance and supply area but we canít sell the pair here. Instead, we have to wait for a bearish candle like a pin bar candle or an engulfing candle at a lower time frame chart like the H4 chart and sell the pair, keeping our first target at 1.6490 and the second one at 1.6400 at the SMA, which is a support level.

    We have to be careful about upcoming hot news like the core retail sales today and CPI on Friday from Canada, as well as Carney's (BOE Governor) speech today.


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