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Forex News Analysis by LiteForex

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  #601  
Old 06-06-2018, 11:38
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Default Re: Forex News Analysis by LiteForex

LiteForex analitics. AUD/USD: correction may be long

Current trend

In June, the Australian dollar against the US one continues to recover after a significant fall in April and early May. The pair returned to the medium-term downward channel and has now reached the upper border of this trend.
The main catalyst for this movement was the fall in the attractiveness of the overbought American currency: investors fix short positions, waiting for a longer upward correction. Moreover, strong economic growth data for Q1 were released in Australia, which gave serious support to AUD.
This week, there will be no key releases for the US dollar, so one should not expect increased interest in the currency.

Support and resistance

The pair stopped at a strong resistance level of 0.7670, which is the upper border of the descending channel, which makes it difficult to pass this mark. On the other hand, a strong fundamental background in Australia and a decline in demand for USD can provide momentum for further growth with the possibility of the upward correction to the levels of 0.7700, 0.7800. From them, the instrument can go down to local minima: one should not expect a fall from the current level, but the overall trend remains descending.
Technical indicators on W1 chart confirm the decline forecast in the medium term: MACD indicates the preservation of the high volume of short positions, and Bollinger Bands are pointing downwards.
Support levels: 0.7600, 0.7560, 0.7530, 0.7505, 0.7480, 0.7450, 0.7410.
Resistance levels: 0.7650, 0.7670, 0.7700, 0.7735, 0.7770, 0.7800.

Trading tips

Short positions may be opened from levels of 0.7700, 0.7770, 0.7800 with targets at 0.7450, 0.7410 and stop-loss at 0.7870.

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  #602  
Old 07-06-2018, 12:27
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Default Re: Forex News Analysis by LiteForex

LiteForex analitics. GBP/USD: general analysis

Current trend

The pair is influenced by contradictory factors. On the one hand, positive British Service, Manufacturing, and Construction PMI inspired the investors and gave hopes for reduction of BoE monetary stimulus. On the other hand, Brexit situation is incurring significant risks for the British economy. In general, business is preparing for hard times. Representatives of major European and British companies have warned Prime Minister Theresa May about a possible reduction in investment, which would cause a reduction in jobs number.
The lack of a compromise upon Brexit in the British government worsens the situation. Recently, Theresa May proposed to leave the UK in the EU United Customs zone temporary, which would let avoid the physical borders in Ireland. However, this plan has raised objections from a number of ministers, including David Davis, Boris Johnson, and Liam Fox, who insisted that the UK's stay within the customs union should be limited to a specific unmovable deadline.

Support and resistance

Technically, the pair has been growing for two weeks but was corrected to the midline of Bollinger bands. In the case of a breakdown below the level of 1.3366 (Murray [6/8]), a further decline to the level of 1.3300 (Murray [4/8]) is possible, which is confirmed by indicators: Stochastic reversed downwards, MACD decreases in the positive zone. The key "bullish" level is 1.3427 (Murray [0/8]). In case of the breakout, the price can grow to 1.3488 (Murray [+2/8]), 1.3540.
Resistance levels: 1.3427, 1.3488.
Support levels: 1.3366, 1.3300.

Trading tips

Short positions can be opened below the level of 1.3366 with the target at 1.3300 and a stop loss around 1.3400.
Long positions can be opened above the level of 1.3427 with the targets at 1.3488, 1.3540 and stop loss 1.3390.
Implementation period: 3–5 days.

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  #603  
Old 13-06-2018, 11:13
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Default Re: Forex News Analysis by LiteForex

LiteForex analitics. USD/JPY: general review

Current trend

This week, the pair rose to around 110.65 amid expectations of an interest rate increase by the Fed, the decision on which will be made today.
It is expected that the regulator will raise the rate from 1.75% to 2.00%. Nevertheless, the main intrigue is how much more increases should be expected this year – one or two. Jerome Powell, the Fed's Head, can answer this question at today's press-conference. In conditions of steady growth of inflation, the basic level of which exceeds the target level of 2.0% for three months in a row, the aggressive increase in rates looks logical. However, a trade conflict with the EU and Canada can make the FOMC officials be more cautious.
On Thursday, April data on industrial production in Japan will be published. It is expected that, on an annual basis, the figure will increase from 2.5% to 3.1%, which is unlikely to significantly strengthen the yen, as investors' attention will continue to focus on the results of the meeting of the American regulator.

Support and resistance

Currently, the price approaches the level of 110.93 (Murray [7/8]) and after its breakout can go to the level of 111.40 (the May high area). A breakdown of the midline of Bollinger Bands around 109.85 will give a prospect of a decline to 109.37 (Murray [6/8]) and 108.75. Technical indicators show growth. Stochastic is directed upwards, and MACD histogram is growing in the positive zone.
Support levels: 109.85, 109.37, 108.75.
Resistance levels: 110.93, 111.40.

Trading tips

Long positions may be opened from the current level with targets at 110.93, 111.40 and stop-loss at 110.20.
Short positions may be opened below the level of 109.85 with targets at 109.37, 108.75 and stop-loss at 110.10.

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  #604  
Old 14-06-2018, 12:59
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Default Re: Forex News Analysis by LiteForex

LiteForex analitics. GBP/USD: general review

Current trend

Yesterday, the pair dropped against the background of the results of the Fed's meeting. The key interest rate was raised from 1.75% to 2.00%, and the majority of the Committee members expect two more increases this year.
Today, GBP won back its lost positions, which was facilitated by strong May data on the UK retail sales. YoY the indicator grew from 1.4% to 3.9%. Increased volumes of retail sales were promoted by warm weather and Prince Harry's wedding. These strong data did not clarify the British economy state. After March decline, the indicator has been growing for the second month in a row. But this growth is caused by temporary factors and in June the decline may resume. The Bank of England may need new data to make a decision on the interest rate. Many investors expect its increase in August, especially after the deputy head of the British regulator, Dave Ramsden, spoke last week in favor of rising lending costs.

Support and resistance

Currently, the price is testing the 1.3427 level (Murrey [+1/8]) and, if it consolidates above it, the price can continue to rise to the levels of 1.3540 and 1.3671 (Murrey [0/8]). The key level for the "bears" seems to be 1.3365 (midline of Bollinger Bands). If it is broken down, the price may drop to 1.3300 and 1.3220 (the bottom line of Bollinger Bands). Technical indicators generally indicate growth. MACD histogram is reducing in the negative zone, and Stochastic is reversing upwards.
Support levels: 1.3365, 1.3300, 1.3220.
Resistance levels: 1.3427, 1.3540, 1.3671.

Trading tips

Buy positions may be opened above 1.3427 with targets at 1.3540, 1.3671 and stop-loss at 1.3380.
Sell positions may be opened below 1.3365 with targets at 1.3300, 1.3220 and stop-loss at 1.3400.
Implementation period: 5-7 days.

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