Analytics News and Market Forecast

EUR/USD: ranging within key levels. The pair moved with good downward tendency up to the march this year, and the price was stopped by 1.0461 key support level. For now - the price is on bearish ranging between 1.1436 resistance and 1.0461 support. If the price breaks 1.1436 resistance so the local uptrend as the secondary market rally will be started ; if the price breaks 1.0461 so we may see good breakdown of the price movement up to 1.00/0.90 as the next psy levels; otherwise - ranging.
There are intermediate s/r levels on the way to key 1.1436/1.0461. Those levels are the following: 1.1215 resistance and 1.0807 support. Price should break one of those imtermediate levels for the bullish/bearish scenario to come true. Of course, many financial int'l institutions believe in 1.05/1.04 to come soon. But we should know those intermediate levels for understand about when the price will hit 1.04/1.05 low.
Resistance
Support
1.1215


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W1 price is located to be above yearly Central Pivot at 1237.48 and below S1 Pivot at 1082.97:
The price is on bearish ranging between yearly Central Pivot at 1237.48 and S1 Pivot at 1082.97.
The price is breaking descending triangle pattern from above to below together with S1 Pivot at 1082.97 for the bearish trend to be continuing.
If weekly price will break S1 Pivot at 1082.97 so the primary bearish market condition will be continuing up to S2 Pivot value at 997.50, otherwise the price will be ranging within yearly Central Pivot and yearly S1.
Instrument


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GBP/USD: ranging within refined level. The pair is ranging in refined consoludating levels between 1.5329/1.4565 support and 1.5689/1.5929 resistance. The key levels here are the following: There are intermediate levels for the price to be broken to reach the key levels: 1.5329 support level and 1.5689 resistance level. It means that the price should break…

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Weekly price is on bearish market condition with below of 100-period SMA and 200-period SMA ranging between key s/r levels:
the price crossed 1.1215 support level on close weekly bar for the 1.0807 as the next target to the way to 1.0461;
descending triangle pattern was fomed with 1.0807 support level;
Nearest support levels are 1.0807 and 1.0461;
Nearest resistance levels are 1.1464 and 1.2568.


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"Equities could be in for a correction amid a possible rate hike by the Federal Reserve next month. The next six or seven weeks are going to be very rough," the well-known Wharton School finance professor Jeremy Siegel told to CNBC. The reasons are the following:
September rate hike;
weaker corporate earnings;
oil prices falling;
strong dollar;


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EURUSD was up and down again for ranging on the back of the China surprise and the news that Greek creditors reached a deal. The price reached the border between bearishand bullish trend and stopped near some key resistance levels such as 1.1113/1.1215/1.1466.
The bulls market is under control as there are few strong resistance levels on the way for the price to be reversed. For example, 200-SMA value is located at 1.25 on weekly chart and at 1.1466 on daily chart so the price should go quite a long way through many levels on the way to possible reversal. Any fundamental news events may move the pair to be down or increase the choppy situation for the downtrend to come later for this pair.


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The yuan in its biggest fall traded in 3-year low for now. This is because The People's Bank of China (PBoC) was allowed the yuan to depreciate by the about 2% against the US dollar:
Australian dollar falls by 120 pips as Chinese yuan devalued:
According to the comments made by The People's Bank of China as well as int'l analysts, PBoC allows for yuan depreciation to help exporters: "Appropriately, money and credit growth will therefore provide a bigger support to domestic demand."


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Weekly price is on bearish market condition located below of 100-period SMA (100-SMA) and below 200-period SMA (200-SMA) for ranging within key levels:

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Weekly price is on bullish market condition with above of 100-period SMA (100-SMA) and 200-period SMA (200-SMA):

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USD/CAD: bullish with ranging started. The pair is on bullish market condition with the ranging to be started this week. The price is moved within the following key levels:
1.3213 resistance level located far above Ichimoku cloud; if the price breaks this level so we may see good trend following movement on breakout way.
1.1312 support level located on the border between the primary bearish and the primary bullish on the chart; if the price breaks this level so we may see the global reversal of the price movement to the bearish market condition.
Thus, there are 3 scenarios for the price movement for tomorrow and next weeks:
the price will break 1.3213 level for breakout and good movement;


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