Analytics News and Market Forecast

Barclays Capital is suggesting to open sell trade near 0.6430 with the target near 0.6375 and then the 0.6235 year-to-date lows. Let's evaluate this forecast concerning the technical point of view using Metatrader.
NZD/USD: bearish ranging to breakdown. The price is on bearish market condition located below 100 SMA/200 SMA with symmetric triangle pattern to be broken to below for the bearish trend to be continuing. The price is located within the following key reversal s/r levels:
0.6895 resistance level, and
0.6102 support level.
There is intermediate support level for the price on the way to 0.6102 bearish target: this level is 0.6287.


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USD/CAD: ranging bullish with key resistance to be broken. The price is on bullish market condition located to be above 100 period SMA (100 SMA) and 200 period SMA (200 SMA) for the ranging within the following key support/resistance levels:

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Skandinaviska Enskilda Banken (SEB) made a forecast for USD/CAD with the following advice: if the price breaks 1.3247 so we may see the local downtrend as the secondary correction with the next target to be below 1.32 for example. Let's evaluate this forecast with the technical point of view.
USD/CAD: ranging bullish within symmetric triangle pattern. The pair is located to be above 100 period SMA (100 SMA) and 200 period SMA (200 SMA) for the primary bullish market condition with the secondary ranging within the following key support/resistance levels:
Fibo resistance level at 1.3456, and
Fibo support level at 1.2831.
The price is inside symmetric triangle pattern to be broken for the direction. Bearish key reversal level is 1.1919, and if the price breaks this level to below so the bearish reversal will be started. And RSI indicator is estimating the ranging bullish market condition by direction.


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W1 price is located below 200 period SMA (200 SMA)* and 100 period SMA (100 SMA) for the primary bearish with the ranging between 61.8% Fibo resistance level at 1.5586 and Fibo support level at 1.5026:

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H4 price is located below SMA with period 100 (100-SMA) and SMA with the period 200 (200-SMA) within the following key support resistance levels:
1.0762 key reversal resistance level located on the border between the primary bearish and the primary bullish on intra-day chart, and
1.0565 support level located on the bearish area of the chart.
RSI indicator is estimating the ranging bearish market condition to be continuing.
If the price will break 1.0762 resistance level so the reversal of the intra-day price movement from the primary bearish to the primary bullish condition will be started up to 1.0807 as the next nearest target.


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Skandinaviska Enskilda Banken (SEB) made a long-term forecast with talling that the price will be on downtrend up to the level to be near 126 as a target. Let's evaluate this forecast with the technical points of view.
EUR/JPY: ranging within reversal key levels. The pair is on ranging market condition located between 100 period SMA (100 SMA) and 200 period SMA (200 SMA) for breaking descending triangle pattern and Fibo support level at 129.97 for 126.09 as the next bearish target.
if the price breaks 136.71 resistance so the bullish reversal will be started up to 141.05 as the next bullish level;
if the price breaks 126.09 support level so the price will be started to be reversed to the primary bearish market condition;
if not so the price will be moved within the channel.


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Weekly price is on bullish market condition for ranging within the following key reversal support/resistance levels:
1863.12 support level located below Ichimoku cloud in the primary bearish area of the chart, and
2134.42 resistance level located above Ichimoku cloud in the primary bullish area of the chart.
Chinkou Span line is below the price indicating the ranging condition by direction, and 'reversal' Sinkou Span line is located near and below the price which makes the bearish reversal of the price movement to be likely in the near future for example.
If W1 price will break 1863.12 support level so the price will be reversed from the primary bullish to the primary bearish market condition.


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EUR/AUD: correction to the bearish reversal. Weekly price for the pair is located to be above Ichimoku cloud with the primary bullish area of the chart. 'Reversal' Sinkou Span line ((as the border between the primary bullish and the primary bearish on the chart) is located near and below the price which makes the bearish reversal to be very likely in the coming weeks. The price is on secondary correction for breaking 1.4698 support level on open weekly bar for now with 1.4202 as the next bearish reversal target. There are the following key reversal support/resistance levels:
1.6248 resistance level located above Ichimoku cloud in the bullish area of the chart, and
1.4202 support level located on the bearish area of the chart and near the border between the primary bearish and the primary bullish trend.
Chinkou Span line is above the price for possible crossing it to below in the near future indicating the good bearish breakdown.


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National Australia Bank (NAB) made a forecast for AUD/USD based on fundamental analysis: the NAB is suggesting to wait for the price to come to 0.73-0.74 ranging area to sell with 0.70 as the target. let's evaluate this forecast from the technical points of view.

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H4 price is on bearish market condition located below Ichimoku cloud and Sinkou Span line which is the virtual border between the primary bullish and the primary bearish on the chart. The price is on secondary ranging within the following support/resistance levels:
1.5129 resistance level located near and below Ichimoku cloud on the border between the primary bearish and the primary bullish on the chart, and
1.5026 support level located far below Ichimoku cloud in the primary bearish area of the chart.
Absolute Strength indicator's data is estimating the ranging market condition, and Chinkou Span line is located below the price and indicating the bearish trend to be continuing by direction.
The nearest support levels for intra-day price are 1.5053 and 1.5026.


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