Analytics News and Market Forecast

Deutsche Bank made a short forecast suggesting to sell NZD/JPY for this week so let's evaluate the situation with the technical point of view. NZD/JPY: weekly bearish reversal. The pair is on ranging market condition located near 200 period SMA (200 SMA) on the border between the primary bearish and the primary bullish trend on…

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Daily price* is on the primary bullish market condition located above Ichimoku cloud and 'reversal' Sinkou Span lines within the following fundamental support/resistance levels: D1 price - bullish breakout:

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EUR/GBP: weekly breakdown. This pair is on bearish market condition located below Ichimoku cloud in the primary bearish area of the chart. The price is breaking 0.7039 support level from above to below on close weekly bar for the bearish breakdown to be continuing with 0.6935 as the next bearish target. The bullish reversal level is 0.7492 located on reversal between the primary bearish and the primary bullish trend of the chart.
There are 3 simple scenarios for the price movement for the week:
bearish breakdown to be continuing in case the price breaks 0.6935 support,
bullish reversal to be started in case the price breaks 0.7492 resistance from below to above,
or the ranging within the levels.


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Weekly price was bounced from 5008 key bullish reversal support to eb back to Ichimoku cloud for now so the price is on ranging area of the chart for the waiting for the direction of the trend.
Chinkou Span line is located to be near and below the price indicating the ranging condition to be continuing.
'Reversal' Sinkou Span line (which is the virtual border between the primary bullish and the primary bearish on the chart) is located near above the price which makes the bullish reversal to be very possible for this year for example.
Absolute Strength indicator is estimating the bullish trend.
The nearest resistance levels are 5008 and 5267.


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W1 price is continuing with bullish breakout for trying to break 3.9864 resistance level from below to above for the breakout to be continuing. The price broke symmetric triangle pattern from below to above for the bullish breakout, and Absolute Strength indicatior is estimating the bullish trend to be continuing in the future for example.
If the price will break 3.6771 support level so the reversal from the primary bullish to the primary bearish market condition will be started with the secondary ranging: the price will be located inside Ichimoku cloud.
If the price will break 3.5243 support level so the price will be fully reversed to the bearish condition without secondary ranging.
If the price will break 3.9864 resistance level from below to above so the primary bullish breakout will be continuing.
If not so the price will be ranging between the levels.


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Skandinaviska Enskilda Banken estimated the real bearish target for this pair as 1.0481 in the near future with stated that the price will be moved to 1.05/1.04 area soon. Let's evaluate the situation with the technical points of view.
As we see from the chart below - weekly price is on bearish market condition located below 100 period SMA (100 SMA) and 200 period SMA (200 SMA) with the ranging within the following key support/resistance levels:
Fibo resistance level at 1.1713 located below 100 SMA/200 SMA and near the border between the primary bearish and the primary bullish trend on the chart, and
key support level at 1.0461 located far below 100 SMA/200 SMA in the primary bearish area of the chart.
The price is breaking Fibo support level at 1.0634 from above to below on open weekly bar for now for the bearish trend to be continuing with 1.0461 as the next real bearish target. RSI indicator is estimating the bearish trend with non-oversold way.


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EUR/JPY: weekly breakdown. This pair is on bearish market condition located near and below Ichimoku cloud in the primary bearish area of the chart. The price is ranging within the following key reversal support/resistance levels:

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Goldman Sachs made a forecast for EUR/USD related to Fed December meetings: "Given that the beginning of 2016 is likely to bring renewed vigour to risk-taking, we think it is perfectly possible for EUR/$ to reach 0.95 – our 12-month forecast – by end-March." Let's evaluate the situation related to this pair in long term trend forecasting for example.
Weekly price is breaking S2 Pivot at 1.0672 for 1.0461 as the next bearish target. If this second S2 support level will be broken so the price will be ranging between S2 Pivot at 1.0672 and S3 Pivot at 0.9344.
There are bearish breakdown level for the price on the way to S3 Pivot - this is 0.9524 key support level, and if this 0.9524 is broken so we may see good bearish breakdown up to S3 Pivot at 0.9344 as the next real bearish target in this case.
if the price breaks 1.0461 support level so the primary bearish will be continuing up to 0.9524 as the next bearish target;
if not so the price will be moved within pivot support levels.


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United Overseas Bank made a forecast for EUR/USD telling that the price will be closed on intermediate low: "The quick rebound from the overnight low of 1.0615 suggests that EUR/USD is likely close to making an interim low." Let's evaluate intra-day situation from the technical point of voew.
M5 price is located to be above SMA with period 100 (100-SMA) and SMA with the period 200 (200-SMA) for the primary bullish market condition with the ranging within the following key reversal s/r levels:
1.0719 resistance level located far above 100-SMA/200-SMA in the bullish area of the chart, and
1.0687 support level located on the border between the primary bearish and the primary bullish trend.
There are 3 scenarios for the price movement for now:


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USD/JPY: ranging within bullish levels. The pair is located to be above 100 period SMA (100 SMA) and 200 period SMA (200 SMA) for the primary bullish market condition for the ranging within the following key bullish levels:
125.85 resistance level, and
116.13 support level.
The price is trying to break 123.59 key resistance from below to above for the bullish trend to be continuing with 125.85 as the next bullish target.
if the price breaks 123.59 resistance on close weekly bar so the bullish trend will be continuing with 125.85 as the nearest bullish real target;


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