Analytics News and Market Forecast

Barclays Capital made a technical forecast for EUR/USD explaining their position opened with key targets:
"The move below 1.1335 encourages our bearish view. Our initial targets are near 1.1260. A move below 1.1260 would open our next targets in the 1.1105/1.1085 area."
So, they opened sell trade at 1.1335 with 1.1260 as an initial target having re-enter to 1.1105/1.1085 targets in case the price will move to below 1.1260. If we see from the chart above - there are the following targets for this pair:
1.1086 as the nearest bearish target with 1.0807 and 1.0607 as the next bearish levels;
1.1713 as the nearest bullish target with 1.1956 as the next bearish level.


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As ECB will take center stage this week so Barclays Capital made some fundamental and technical forecasts concerning EUR/USD.
Fundamental Forecast.
"An increasingly cautious Fed, coupled with an uncertain EM outlook, has benefited the EUR recently, contributing to tighter euro area financial conditions. Coupled with the recent drop in inflation expectations, such tightening has significantly raised expectations for additional ECB stimulus, making this week’s ECB meeting (Thursday) the market’s key focus."
"The most likely scenario, in our view, is a continuation of the dovish rhetoric, followed by the announcement of a QE time extension in December, when the ECB updates its Q4 15 staff economic forecasts."


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W1 price is on bullish market condition located between R3 Pivot at 1.3352 and R2 Pivot at 1.2568:
The price is on bullish ranging between 1.3456 resistance and 1.1919 support level.
The price is crossing 1.2830 from above to below for the secondary correction to be started.
"The Canadian Dollar broke out of its 4-month rising impulsive channel rather aggressively. This drop brought about a 600 pip decline from the late September high of 1.3457 to a current corrective low of 1.2833."
"This is the lowest level since the Bank of Canada surprised markets with a rate cut and USDCAD went from ~1.21 to 1.3450 in short order. Since then, Oil has regained some footing and if you remove the 8-most volatile components of Canadian CPI, we’re over 2%. Additionally, we’ll have the Bank of Canada and PM elections that will likely spark volatility in the Loonie."


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W1 price is located below 200 period SMA (200 SMA) and below 100 period SMA (100 SMA) for the primary bearish with secondary ranging between 1.0607 support level and 1.1956 resistance level:
"The Euro moved downward against the US Dollar as expected after prices put in a bearish Dark Cloud Cover candlestick pattern. Sellers now aim to challenge support below the 1.13 figure, with a breach putting the fate of the upswing from mid-March in play."
"A daily close below 1.1254, the intersection of the 38.2% Fibonacci expansion and a rising trend line set from early August, opens the door for a test of the 50% level at 1.1180. Alternatively, a reversal above the 23.6% Fib at 1.1346 clears the way for a challenge of the 14.6% expansion at 1.1402."


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Barclays Capital made a technical forecast for USD/CHF explaining their position opened with key targets: So, they foresee 0.9900 as the real target with this bullish situation for USD/CHF. There are the following key targets for this pair:

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Barclays Capital made a technical forecast for NZD/USD explaining their position opened with key targets:
"We are bearish against resistance in the 0.7000 area. A move below 0.6740 would signal lower towards initial targets near 0.6615 and then 0.6455."
So, they are expecting the bearish to be continuing started from near 0.7000 area. Anyway, as we see from the chart - the nearest key resistance level is 0.6895, and they are openning short from this resistance. But as we see - the real targets in this case will be 0.6235 and 0.6102 levels.
If W1 price will break 0.6895 resistance level on close W1 bar from below to above so the bear market rally will be started with the some possibility to the reversal of the price movement to the primary bullish market condition in the future.
If W1 price will bounce off 0.6895 resistance level so the bearish trend will be continuing.


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Weekly price is on bearish market condition with below 100-period SMA and 200-period SMA with the ranging between 54.27 resistance level and 42.18 support level:
the price is trying to cross 46.22 intermediate support level from above to below with 42.18 as the next bearish target;
symmetric pattern was broken by price to below for the breakdown to be continuing;
nearest support levels to be broken are 46.22 and 42.18;
nearest resistance levels are 54.27 (W1) and 69.57 (W1).


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H4 price was on bearish breakdown with the reversal: the price broke Ichimoku cloud together with the key support levels from above to below and it was stopped in the bearish area of the chart to be near 1.1071 support level.
Chinkou Span line is located far below the price indicating the ranging bearish market condition to be continuing.
The price is located below Ichimoku cloud/kumo which is indicating the primary bearish condition
The nearest support level for H4 price is 1.1086
Resistance


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Weekly price is on bullish market condition for the secondary ranging which was started in the beginning of May this year:
the price is located above 100-period SMA and above 200-period SMA for the ranging between 100.39 resistance level and 92.62 support level;
nearest support levels to be broken are 93.81 and 92.62;
nearest resistance levels are 96.70 (W1) and 69.57 (W1).
Resistance


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Weekly price is on bullish market condition with above 100-period SMA and above 200-period SMA with the ranging between 2134.42 resistance level and 1863.12 support level:
2134.42 resistance level is located far above 100-SMA/200-SMA in the primary bullish area of the chart;
1863.12 support level is located between 100-SMA and 200-SMA on the ranging area and between the primary bearish and the primary bullish market condition;
the price is ranging around 2033.28 level;
nearest support levels to be broken are 46.22 and 42.18;


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