Analytics News and Market Forecast

Weekly price is on bullish market condition with the secondary ranging within the following key support/resistance levels:
100.39 located above Ichimoku cloud in the primary bullish area of the chart, and
92.62 located inside Ichimoku cloud in the ranging bearish area of the chart.
Descending triangle pattern was formed by the price to be broken from above to below for the good possible breakdown of the price movement with the reversal to the bearish market condition. Chinkou Span line is located near and above the price to be ready for possible breakout/breakdown in the near future.
Resistance


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W1 price is located to be far above yearly Central Pivot at 1.8021 in overbought condition: MT4

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W1 price is on bullish market condition located above Ichimoku cloud and above 200 period SMA (200 SMA) and 100 period SMA (100 SMA):
Ichimoku cloud is located far below the price which makes the reversal of the price movement to the primary bearish market condition to be very unlikely in the near future.
The price is ranging between Fibo resistance level at 1.3456 and 23.6% Fibo support level at 1.3092.
Ascending triangle pattern was formed by the price with 1.3353 resistance to be broken from below to above for good possible breakout.


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W1 price is located far below 200 period SMA (200 SMA) and 100 period SMA (100 SMA) for the primary bearish market condition with secondary ranging between 23.6% Fibo resistance level at 0.7204 and Fibo support level at 0.6907:
the price is ranging within 23.6% Fibo resistance at 0.7204 and Fibo support at 0.6907;
descending triangle pattern was formed by the price to be broken from above to below for good possible breakdown.
If the price will break Fibo support level at 0.6907 so the bearish trend will be continuing.
If the price will break 23.6% Fibo resistance level at 0.7204 from below to above so the secondary bear market rally will be started within the primary bearish market condition.


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Deutsche Bank made a fundamental forecast concerning GBP stated that it is not a time for this currency to be reversed to the bearish market condition in the near future for example:
"First, the risk remains that the Bank of England defies markets by tightening sooner than currently anticipated."
"Second, positioning has lightened significantly. Implied EUR/GBP shorts on the IMM are now at early 2014 levels. Volumes have also dropped off according to our DB Flow Report."
"Third, underlying flows continue to be very healthy. The most high frequency data shows the UK has notched up 72bn of combined gilt and M&A inflows since March, in both cases accelerating from the first quarter. With gilt-bund spreads remaining at record highs and the investment environment favorable, there is no reason to think either should pause."
Let's evaluate this fundamental forecast from the technical points of view.


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USD/CAD is on long-term bullish market condition: the price is located to be too far above Ichimoku cloud for trying to break 1.3456 key resistance level for the bullish trend to be continuing. The key resistance levels for the pair on the way to continuing with the bullish trend are the folloiwng:
R3 Pivot at 1.3352, and
1.3456 key resistance level.
The key support levels for the pair for the secondary correction to be started are the folloiwng:
1.2951 key support level, and


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Weekly price is on bearish market condition with below Ichimoku cloud for the secondary ranging within 54.27 resistance and 42.18 support:
Chinkou Span line is located below the price indicating the flat by direction;
Absolute Strength indicator is estimating the secondary flat within the primary bearish;
Nearest support levels are 46.22 and 42.18;
Nearest resistance levels are 54.27 and 69.57.


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W1 price is located below 200 period SMA (200 SMA) and 100 period SMA (100 SMA) for the primary bearish market condition with secondary ranging between Fibo support level at 1.5089 and Fibo resistance level at 1.5929:
The price is trying to cross Fibo support level at 1.5089 from above to below for the bearish trend to be continuing.
"The British Pound continues to seek out a bottom against the US Dollar after putting in a bullish morning-star formation on Thursday and Friday of last week. This morning-star formation comes on the heels of a 500+ pip drop after the Federal Reserve elected not to hike rates at their September meeting."


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W1 price is above 200 period SMA (200 SMA) and 100 period SMA (100 SMA) for the primary bullish market condition with secondary correction which was started in the middle of August this year:
The price is trying to cross Fibo support level at 180.37 from above to below for the correction to be continuing.
Symmetric triangle pattern was crossed by the pair to below for good possible breakdown.
The key 'reversal' level for this pair is 174.87, and if the price breaks this level so we may see the reversal of the price movement to the primary bearish market condition.
If the price will break Fibo support level at 180.37 on close weekly bar so the secondary correction within the primary bearish will be continuing.


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W1 price is located below 200 period SMA (200 SMA) and 100 period SMA (100 SMA) for the primary bearish market condition with secondary bear market rally: If the price will break Fibo resistance level at 0.7439 on close weekly bar so the secondary market rally will be continuing.If not so the price will be…

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