Analytics News and Market Forecast

As we know - Barclays estimated the target for EUR/USD at year-end as 1.04. Fow now - Nomura evaluated this pair against the possible fundamental risks and factors and told about 1.05:
"As the Greek situation becomes clearer, the market will refocus on the widening gap of short-end yields between the US and euro area, which have been a more significant driver for the EUR/USD than long-term bund yields."
"Even though US economic data has improved in Q2, the rates market prices out a possibility of Fed liftoff in 2015 and 2-5yr US yields have declined over the last few weeks. Upside room for the US short-end of the curve remains high by end-2015, pointing the restart of EUR/USD depreciation into year end. We keep our end-2015 target of EUR/USD at 1.05 for now."
According to my evaluation - the year-end target may be 1.0461:


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Barclays Capital is continuing with weekly (at week-end) and yearly (at year-end) forecasting for currency against USD. The main strategy for this week from Barclays is to sell AUD, NZD and CAD against USD. It means Barclays is predicting the breakout of the price movement for USDCAD up to 1.2835 with the next taget as 1.3065. Well ... will see because the week is already started ...
"For USDCAD, we are looking for a break above our initial upside targets near the 1.2835 year-to-date highs to confirm upside traction towards our next targets near 1.3065," Barclays adds.


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Daily price is ranging on the middle of bullish/bearish reversal for crossing Sinkou Span A line which is the border between primary bullish and the primary bearish on the chart, with the following s/r levels:
1.0915 support level located below Ichimoku cloud in bearish area of the chart, and
1.1215 resistance level located above Ichimoku cloud in bullish area of the chart.
Chinkou Span line crossed the price several times for the last week for the ranging condition, and it is located below and near the price to be ready to cross it from below to above once again on daily close bar for possible bullish breakout.
D1 price - ranging market condition:


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US Dollar - "Chairwoman Janet Yellen reiterated her belief that hikes will begin this year. Fed Fund futures yielded some ground after the comments. Ahead, we have CPI and Yellen testimony that will further decide just hard the dovish market will fight the Fed’s warnings."
USDJPY - " Keep an eye on China, Greece, and broader financial market risk sentiment to gauge likely direction in the Yen. Volatility prices have picked up from recent lows, and we suspect we have not seen the last of the panic-driven JPY gains."
GBPUSD - "With that said, the recent price action in GBP/USD also highlights the risk for a further appreciation in the exchange rate as the pair retains the upward trend carried over from May, and the pound-dollar appears to have carved a near-term low around the 1.5330 region (78.6% Fibonacci retracement) as the Relative Strength Index (RSI) threatens the bearish momentum carried over from the previous month."


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Two companies have agreed for strategic partnership to allow merchants to accept Bitcoin on the Limonetik payment platform. The partnership will allow merchants accept payment from anyone anywhere in the world at low cost and with no chargeback risk. Additionally, as the partnership will enable Limonetik to add Bitcoin to its already impressive portfolio of payment types, customers of Limonetik which range from ecommerce merchants to marketplaces to PSPs will benefit a lot.
Christophe Bourbier (CEO and co-founder at Limonetik) says that his company recognized the growing interest in digital currencies from its customer base and excited to partner with Bitnet to add Bitcoin to the service offering. He also admitted that they selected Bitnet as a partner due to the ease-of-integration and scalability of their platform


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An interest rate liftoff by the U.S. Federal Reserve should come in September, Richard Fisher, former president and chief executive of the Dallas Fed said in an interview with CNBC.


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Copper prices came under heavy pressure on Tuesday, as market participants awaited key economic data later in the week for fresh indications on the state of China's economy.


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On Tuesday prices of crude oil fell steeply after Iran and six world powers struck a nuclear deal allowing it to pour more oil into already oversupplied market.


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Analytics from Barclays Capital suggested to sell NZDUSD with the target as 0.6560:
"We are bearish for commodity currencies such as AUD, NZD and CAD and would use short-term pullbacks as an opportunity to sell at better levels against the USD. Our greater bearish view for AUDUSD was encouraged by last week’s move to new lows for 2015," Barclays advises.
"We also expect NZDUSD to extend losses toward our next targets near the 0.6560 multi-month range lows and then the 0.6400 area," Barclays projects.
As we see from the chart below - the monthly price is on bearish area crossed last border of Ichimoku cloud to go to the non-ranging trending zone. The price is crossing 0.6746 support level from above to below, and 0.6560 may be the next target as the next support level.
There are some more signals indicating the poissible breakdown in the near future with 0.6560 support level to be broken:


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