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  #521  
Old 15-01-2018, 12:05
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Default Re: Forex News Analysis by LiteForex

LiteForex: EUR/USD: Euro is growing

Current trend

Last week European currency strengthened against the dollar and by now, it has reached the level of 1.2245.
Three factors have supported the growth of EUR. Firstly, China has reported the suspension of US government bonds purchase, which was not confirmed afterward. The second factor was the recent ECB meeting reports release, which contained hints of monetary tightening. The third one is the agreement between CDU and SPD to begin the negotiations upon the creation of wide party coalition, which will help to solve German government crisis.

As a result, the market did almost not reacted to the positive December US Consumer Price release. The MoM index grew from 0.1% to 0.3%, the YoY one– from 1.7% to 1.8% due to the growth of housing prices. The data give the investors hope if increasing the interest rate during March FRS meeting, despite the fact that inflation has not reached the inflation level of 2.0% yet. Meanwhile, FRS plans to abandon this target level at all. The head of Boston FRB Rosengren has proposed to determine the inflation target within the range of 1.5–3% and choose the optimal level annually.

Support and resistance

The price grew above the central Murray ([4/8]) level around 1.2200. The targets are 1.2330 (Murray [5/8]) and 1.2450 (Murray [6/8]). Correction to the levels of 1.2085 (Murray [3/8]) and 1.1963 (Murray [2/8], the middle line of Bollinger Bands) will become possible after the price is set below 1.2200. The indicators reflect the development of growth, MACD is increasing in the positive zone, and Stochastic is pointed upwards.
Resistance levels: 1.2330, 1.2450, 1.2570.
Support levels: 1.2200, 1.2085, 1.1963.

Trading tips

Long positions can be opened at the current level with the targets at 1.2330, 1.2450 and stop loss at 1.2240.
Short positions can be opened after the price is set below the level of 1.2200 with the targets at 1.2085, 1.1963 and stop loss at 1.2250.

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  #522  
Old 16-01-2018, 07:18
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Default Re: Forex News Analysis by LiteForex

LiteForex: NZD/USD: pair updates its highs

Current trend

At the Monday trading, the New Zealand dollar showed significant growth against the US one, updating a new local maximum since September 22. The instrument was supported by the weakness of the US currency, while the markets in the US were closed on the occasion of the national holiday.
Today, the pair tends to consolidate near new highs, partly due to corrective growth in favor of the US currency, as well as published macroeconomic statistics from New Zealand. Thus, the index of business confidence from NZIER in the 4th quarter of 2017 showed a sharp decline of -12% QoQ, after an increase of 5% QoQ for the previous period. Retail sales using electronic cards slipped from 1.3% MoM to 0.5% MoM in December, which, however, justified the market expectations.

Support and resistance

The Bollinger Bands in D1 chart show stable growth. The price range remains practically unchanged, which still limits the "bullish" potential in the short term. One should take into account the risks of a corrective decline in the short term.
MACD indicator is growing preserving a stable buy signal (the histogram is above the signal line). There is an opportunity to maintain the existing long positions in the short term. It's worthwhile to postpone opening new positions now.
The stochastic reversed horizontally near its maximum values, which indicates the possible development of corrective rollback in the short and/or ultra short term.
Resistance levels: 0.7313, 0.7342, 0.7370.
Support levels: 0.7275, 0.7242, 0.7195, 0.7135.

Trading tips

To open long positions, one can rely on the breakout of 0.7313 or 0.7342 marks, provided that technical indicators do not contradict the further development of the "bullish" trend. Take-profit at 0.7370 or 0.7400. Stop-loss – 0.7270. Implementation time: 2-3 days.
The rebound from the level of 0.7313 as from resistance, with the subsequent breakdown of 0.7275-0.7250 marks, can become a signal to the beginning of correctional sales with the target of 0.7135-0.7100. Stop-loss – 0.7320. Implementation time: 2-3 days.

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  #523  
Old 17-01-2018, 13:19
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Default Re: Forex News Analysis by LiteForex

LiteForex: USD/JPY: upward correction may occur

Current trend

This week, the pair continues to decline and today has reached its lowest level since last September at around 110.17.
The yen is still supported by the decision of the Bank of Japan to reduce the volume of purchases of long-term government bonds (from 200 to 190 billion yen for 10-25-year-olds, and from 100 to 90 billion yen for 25-40-year-olds). Investors see this as a signal for the beginning of tightening of monetary policy by the regulator. Statements by the head of the Bank of Japan Haruhiko Kuroda that incentive programs will be preserved until the inflation reaches the target of 2.0%, made this week, did not greatly weaken the yen. Most market participants believe that during the year the Japanese regulator will have to go on limiting incentives to prevent excessive loosening of the national currency due to the expected continuation of the Fed's interest rate increase and the possible tightening of the monetary policy by the ECB.
Currently, the decline has stopped, as the market is waiting for the publication of data on industrial production in the US. Realization of forecasts - in December the index is expected to grow from 0.2% to 0.4% - may push the pair to correction.

Support and resistance

Currently, the price is in the area of 111.50 (Fibo correction 23.6%, Murrey [1/8]), the breakdown of which will open the prospect of further decline to the levels of 109.37 (Murrey [0/8]) and 108.60 (Murrey [-1/8]). However, the location of Stochastic in the oversold zone indicates a possible correction to the level of 111.72 (Murrey [3/8]) and 112.50 (Murrey [4/8], the middle Bollinger band line).
Support levels: 110.15, 109.37, 108.60.
Resistance levels: 110.93, 111.72, 112.50.

Trading tips

In the current situation, one can buy above the level of 110.93 with the target at 111.72 and the stop-loss at 110.50. One can sell below the level of 110.15 with the targets at 109.37, 108.60 and stop-loss at 110.60.

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  #524  
Old 18-01-2018, 13:06
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Default Re: Forex News Analysis by LiteForex

LiteForex: EUR/USD: waiting for new drivers

Current trend

This week, the pair is trading near the 1.2200 mark and cannot get away from it yet.
On Wednesday, the dollar made an attempt to strengthen in view of strong data on industrial production in the US (in December its volume rose by 0.9% significantly exceeding forecasts) and warnings of the ECB Vice-President Vítor Constâncio on the need for a cautious approach to monetary policy in order not to harm economic growth. However, these drivers were not enough for consolidation of the instrument significantly below the level of 1.2200.
Currently, the EUR won back losses, taking advantage of the uncertainty associated with the expiration of the financing of the US government on January 19. The Congress will have to extend funding, but Democrats insist on reciprocal easing of legislation on illegal migrants.
During the day, the weakening of the US currency may continue in case of negative data on the US construction sector. Indicators of the dynamics of construction permits and the number of new homes bookings in December could fall from 1.298 million to 1.290 million and from 1.297 million to 1.275 million, respectively.

Support and resistance

The technical picture is uncertain. The price chart forms a "flag" shape within the upward trend, Bollinger Bands are directed upwards, which can speak of an increase to the levels of 1.2450 (Murrey [6/8]) and 1.2573 (Murrey [7/8]). On the other hand, Stochastic is preparing to leave the overbought zone and to form a signal for sale. Correction is possible to the levels of 1.2085 (Murrey [3/8]) and 1.1962 (Murrey [2/8]).
Support levels: 1.2200, 1.2085, 1.1962.
Resistance levels: 1.2330, 1.2451, 1.2573.

Trading tips

In the current situation, one may*sell after the price consolidates below the level of 1.2200 from the level of 1.2160 with targets at 1.2085, 1.1962 and stop-loss at 1.2200. Buy positions may be opened from 1.2330 mark with targets at 1.2451, 1.2573 and stop-loss at 1.2270.

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  #525  
Old 19-01-2018, 13:02
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Default Re: Forex News Analysis by LiteForex

LiteForex: GBP/USD: the growth slowed

Current trend

This week the pair was growing, and by the end of the week it has renewed the 3-year highs around 1.3943, gained 1.6%.
Today the growth slowed, as the instrument is under influence of two opposing factors. On the one hand, the dollar is under pressure of the crisis upon the federal government funding, which expires on December 19. The House of Representatives approved the prolongation law on Thursday, however, the democratic part of the Senate promises to block it. In this case, a number of government structures will suspend its work, and around 800K of the employers will have to set a vacation.
On the other hand, the pound cannot grow further due to poor UK Retail Sales release. In December, the index decreased by 1.5% and Retail Sales ex-Fuel – by 1.6%. The analysts consider the fall is because the peak of buyers’ activity coincided with the November sales season. In addition, high inflation level affects the Retail Sales negatively, as it has fallen from its high of 3.1% to 3.0% only in December. The member of Monetary Policy Committee of the Bank of England Michael Saunders has mentioned the long-term negative influence of the high inflation to the UK economy.

Support and resistance

The price reached the resistance zone of 1.3915–1.3965 (Murray [6/8], Fibonacci correction 38.2%). After the rebound the growth to the levels of 1.4040 (Murray [7/8]) and 1.4160 (Murray [8/8]) is possible. However, the reversal of Stochastic in the overbought area and the possible exit of it reflects the risk of the downward correction to the levels of 1.3672 (Murray [4/8]) and 1.3550 (Murray [3/8], the middle line of Bollinger Bands).
Resistance levels: 1.3965, 1.4038, 1.4160.
Support levels: 1.3794, 1.3672, 1.3550.

Trading tips

Short positions can be opened at the level of 1.3793 with the targets at 1.3672, 1.3550 and stop loss at 1.3830.
Long positions can be opened after the price is set above the level of 1.3965 with the targets at 1.4038, 1.4160 and stop loss at 1.3940.

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  #526  
Old 22-01-2018, 12:21
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Default Re: Forex News Analysis by LiteForex

LiteForex: AUD/USD: Murray analysis

On the daily chart, the price left the main trading Murray range and is tending to the extreme of 0.8056 ([+2/8]). The breakout here can lead to the growth to the level of 0.8178 ([7/8] W1). However, the level of 0.8056 seems to be quite strong to cause a reversal. The price has tested it unsuccessfully last September, on the weekly chart in this area lays the strong reversal level [6/8] and the upper border of Bollinger Bands. After the reversal, the fall can develop to the levels of 0.7934 ([+1/8] D1) and 0.7812 ([8/8] D1). On the daily chart technical indicators’ readings are mixed. Stochastic has left the overbought area and formed a sell signal. MACD histogram is growing in the positive zone, Bollinger Bands are pointed upwards. Generally, the growth potential maintains but seems restricted.

Support and resistance

Support levels: 0.7934 ([+1/8]), 0.7812 ([8/8]), 0.7690 ([7/8]).
Resistance levels: 0.8056 ([+2/8]), 0.8178 ([7/8] W1).

Trading tips

Short positions can be opened after the reversal around of the level 0.8656 with the targets at 0.7934, 0.7812 and stop loss at around 0.8685.
Long positions can be opened after the price is set above the level of 0.8056 at the level of 0.8090 with the target at 0.8178 and stop loss at 0.8050.

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  #527  
Old 23-01-2018, 12:40
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Default Re: Forex News Analysis by LiteForex

LiteForex: XAG/USD: correction is over, growth is expected

Current trend

The price of silver went into a narrowing consolidation after a significant growth at the end of last year.
In mid-January, the instrument reached the local maximum level of 17.40, after which it consolidated below this mark in the side channel. Growth was promoted by the increased demand for metal and a significant drop in the US currency at the end of last year/beginning of this year. At the end of the last trading week, the United States published mixed data, which resulted in a reduction in US dollar sales and stabilization of the rate.
Now, there are no important releases that could increase the volatility of the price of silver in the economic calendar. In the second half of the week, special attention should be paid to the US data, namely reports on the labor market, on economic growth rates in the 4th quarter of last year, and on orders for durable goods.

Support and resistance

The current consolidation from the strong resistance level can be regarded as a correction after significant growth. In the future, the correction will be replaced by a new upward wave, the main catalyst for further growth will be the negative fundamental background for the United States and the "bullish" trading sentiments of investors. In the medium term, the instrument is expected to rise to the next strong resistance level of 18.00 — the local high of last September.
Technical indicators on the D1 chart keep the signal for an increase: MACD indicator shows a high volume of long positions, and Bollinger Bands are directed upwards.
Support levels: 16.85, 16.75, 16.55, 16.10, 15.60, 15.30, 15.00, 14.10.
Resistance levels: 17.10, 17.25, 17.40, 18.00, 18.20, 18.70.

Trading tips

In this situation, long positions may be opened from the current level with the target at 18.00 and stop-loss at 16.60.

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  #528  
Old 24-01-2018, 12:16
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Default Re: Forex News Analysis by LiteForex

LiteForex: Brent Crude Oil: correction may be short-lived

Current trend

Oil prices started with correction and are currently trading around 69.15 (Murrey [5/8]).
Prices are pressured by growing reserves in the US (by 4.755 million barrels according to the API) after a long reduction. This is associated with the technical maintenance at American refineries. If the EIA weekly report on oil stocks will record a decline in reserves, expected to be 1.6 million barrels, the price may growth.
The market is upward since June and has not been seriously corrected, despite the presence of serious negative factors. The rise in prices inevitably leads to the activation of shale oil production in the US, and the increase in its supply to the market leads to a slowdown in the achievement of balance and in the effect of the OPEC+ agreement. The danger of the prices exceeding USD 60 mark was indicated by Iran's oil minister Bijan Zangeneh, and Saudi Energy Minister Khalid Al-Falih noted that achieving the balance is not possible until 2019. However, this doesn't scare "bulls".

Support and resistance

In the breakdown of 69.15 mark the decline may continue to the levels of 68.75 (the middle line of Bollinger Bands, Murrey [4/8]) and 68.35 (Murrey [3/8]). Breakout of 69.53 mark gives the prospect of growth to the levels of 69.92 (Murrey [7/8]) and 70.31 (Murrey [8/8]). Technical indicators don't provide a clear signal. Bollinger Bands' reverse and MACD histogram in the positive area indicate the potential price growth. Stochastic's reverse indicates the possibility of correction.
Support levels: 68.75, 68.35, 67.96.
Resistance levels: 69.53, 69.92, 70.31.

Trading tips

Long positions may be opened above the 69.53 with targets at 69.92, 70.31 and stop-loss at 69.20. Short positions may be opened below 69.15 with targets at 68.75, 68.35 and stop-loss at 69.40.

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  #529  
Old 25-01-2018, 11:04
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Default Re: Forex News Analysis by LiteForex

LiteForex: USD/JPY: Murray analysis

On the daily chart the price weakened below the level of 109.37 ([0/8]) and can fall further to the levels of 108.60 ([–1/8]) and 107.80 ([–2/8]), which is confirmed by the indicators’ readings: MACD histogram is growing in the negative zone, Bollinger Bands has reversed downwards, confirming the downward trend. The beginning of the upward correction is possible after the price is set above the level of 109.37 ([0/8]) and returns into the borders of the main trading Murray range with the targets at the level of 110.15 ([1/8]) and 110.93 ([2/8]).
However, on the weekly chart, the price has formed wide sideways channel, approximately coinciding with the central Murray channel (115.62 –109.37) and the price is now testing its lower border, which can cause a reversal. Moreover, the chart is close to the cycle line, which can reflect the possibility of the trade changing, too. In general, there is a potential of decrease, which seems to be restricted.

Support and resistance

Support levels: 108.60 ([–1/8]), 107.80 ([–2/8]), 106.25 ([2/8] W1).
Resistance levels: 109.37 ([0/8]), 110.93 ([1/8]), 111.72 ([2/8]).

Trading tips

Short positions can be opened at the current level with the targets at 108.60, 107.80 and stop loss at around 109.40.
Long positions can be opened after the price is set above the level of 109.37 with the targets at 110.15, 110.93 and stop loss at around 109.00.

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  #530  
Old 29-01-2018, 12:59
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Default Re: Forex News Analysis by LiteForex

LiteForex:GBP/USD: consolidation phase

Current trend

The pair GBP/USD switched to the stage of lateral consolidation after a substantial growth in mid-January. The upward momentum reached the key resistance level of 1.4345 (the upper limit of the upward channel). Then growth was replaced by a fall and the pair entered the sideways channel.
At the beginning of the trading week, there are no key releases in United States or UK, which will ensure the further formation of a lateral trend. In the second half of the trading week in the US there will be data on the labor market, the index of production prices and the decision of the Fed on rates. The UK will respond with data on mortgage lending and the consumer confidence index.

Support and resistance

At the peak of the price, investors prefer to open short positions and close long positions, which ensures a fall in the pair. In the future, a deeper correction movement downward with targets of 1.4000, 1.3820 is expected. The oversold dollar will gradually begin to gain investor demand, even despite weak fundamental indicators. A downward correction may turn into a trend, but for a reversal of a long-term uptrend the pair needs to fall below the 1.3650 level, which is unlikely in the current situation. The main forecast is the downward correction to the levels of 1.4000, 1.3900, 1.3820, the reverse and the formation of a new upward wave.
Support levels: 1.4070, 1.4000, 1.3900, 1.3820, 1.3690, 1.3650, 1.3520, 1.3500.
Resistance levels: 1.4175, 1.4280, 1.4345, 1.4570.

Trading tips

Pending short positions can be opened at the level of 1.4280 with targets of 1.4000, 1.3820 and stop loss at 1.4370.

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  #531  
Old 31-01-2018, 13:10
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Default Re: Forex News Analysis by LiteForex

LiteForex:WTI Сrude Oil: general review

Current trend

Oil quotes were being corrected this week and reached the level of 63.80 today, losing about 3.7%. WTI price was under pressure of the shale activity in the US and Canada, as well as the growth of US commercial oil reserves. According to Baker Hughes, the number of new drilling rigs in the US increased over the week up to 759 units, while in Canada it became 220 units. The expansion of the production capacities of shale companies due to the growth of oil prices could not be a surprise for the market – it was repeatedly predicted by OPEC. An additional correction factor was the growth of oil reserves in the US for the second week in a row according to the API (by 3.229 million barrels). Today, similar data will be released from the EIA, which also forecasts an increase in reserves by 0.126 million barrels.

Support and resistance

Technically, the price has grown to 64.06 (Murray [2/8]) and, with its breakout, has the opportunity to rise to 64.84 (Murray [2/8], the middle line of "Bollinger Bands"), but in the medium term, a downtrend may continue. If the level of 64.06 remains impregnable, the decline will continue to the level of 63.28 (Murray [1/8]) and 62.50 (Murray [0/8]). Technical indicators do not give a clear signal. Stochastic came out of the oversold zone and formed a signal to buy. The MACD histogram ceased to grow in the negative zone. Bollinger bands are directed downwards.

Support levels: 63.28, 62.50, 61.72.
Resistance levels: 64.04, 64.84, 65.62.

Trading tips

Short positions can be opened at 63.70 with targets of 63.28, 62.50 and stop loss at 64.00. Above the level of 64.06 long positions will become relevant with the target of 64.84 and stop loss at 63.80.

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  #532  
Old 01-02-2018, 13:05
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Default Re: Forex News Analysis by LiteForex

LiteForex: FDAX: Fibonacci analysis

On the 4-hour chart, the price has been trading within the range of 13270.0–13168.0 (correction 38.2% and 50.0%) for the third day and cannot leave yet. In case of the breakout of the lower border of the range, the decrease to 13068.0 (correction 61.8%) is possible. However, the chart has signs of figure “head and shoulders” formation, in case of development, the growth of the price to the level of 13400.0 (correction 23.6%) is not excluded.
On the daily chart, the price is testing the level of 13183.0 (corrections coincidence 23.6%, D1 and 50.0%, H4). After the breakdown the decrease to the levels of 13060.0 (upward fan line 38.2%) and 12952.0 (correction 38.2%) is possible. Otherwise, the growth is expected, the breakout of the level 13300.0 (the middle line of Bollinger Bands) can return the price to January highs in the area of 13548.0. Technical indicators confirm the possibility of growth, Bollinger Bands reversed upwards, Stochastic entered the oversold zone and can reverse any moment.

Trading tips

Long positions can be opened above the level of 13270.0 with the targets at 13400.0, 13548.0. Stop loss is around 13200.0.

Alternative scenario

Short positions can be opened after the price is set below the level of 13168.0 with the targets at 13060.0, 12952.0 and stop loss at 13210.0.

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  #533  
Old 02-02-2018, 13:09
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Default Re: Forex News Analysis by LiteForex

LiteForex: SPX: Murray levels analysis

On the daily chart, the instrument was corrected from annual maximums to the level of 2812.5 ([8/8]). However, it will be difficult to break through much lower, as the price is supported by the middle line of Bollinger Bands. In addition, Stochastic confirms the possibility of renewal of growth; the indicator entered the overbought zone and is trying to reverse. A breakout of level 2812.5 may return the price to 2851.6 ([+1/8]), 2890.6 ([+2/8]) and above, to the level of 2968.0 ([7/8] W1). If the price is be able to gain a foothold below 2812.5 and the middle line of the Bollinger Bands, the correction will be possible until the middle of the Murray trade range, at around 2656.3 ([4/8]).

Support and resistance

Support levels: 2734.4 ([6/8]), 2656.3 ([4/8]), 2578.0 ([2/8]).
Resistance levels: 2812.5 ([8/8]), 2851.6 ([+1/8]), 2890.6 ([+2/8]), 2968.0 ([7/8] W1).

Trading tips

Long positions should be opened above the level of 2812.5 with the targets of 2851.6, 2890.6, 2968.0 and the stop loss at around 2790.0. Short positions can be opened at 2773.0 with targets of 2734.4, 2695.3, 2656.3 and stop loss at 2790.0.



Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/
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  #534  
Old 06-02-2018, 11:43
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LiteForex: NZD/USD: general analysis

Current trend

Yesterday US dollar strengthened against all the leading currencies. Friday’s strong US employment market publication supports USD. In addition, the evasion of risks wave, which appeared at the end of the last week, additionally affects the instrument negatively.
Today the NZD/USD pair reached its month minimum, the pair reversed and consolidated above the psychological level 0.7300. Today there is lack of US macroeconomic releases. Dairy products fair will take place in New Zealand today, and employment market data are due at 23:45 (GMT+2), which can affect the investors’’ expectations upon tomorrow’s RBNZ interest rate decision

Support and resistance

On the 4-hour chart, the instrument is reaching Bollinger Bands MA from below. The key resistance level is 0.7325, the breakout of which will give a signal to open long positions. The indicator is pointed downwards; the price range is widened, reflecting the change of the upward trend. Key support level is 0.7250. MACD histogram is in the negative zone, keeping sell signal. Stochastic is reaching the oversold area from below and do not give a clear entry signal.
Resistance levels: 0.7325, 0.7356, 0.7400, 0.7440.
Support levels: 0.7123, 0.7154, 0.7200, 0.7248, 0.7291.

Trading tips

Long positions can be opened above the level of 0.7345 with the targets at 0.7400, 0.7420 and stop loss 0.7305. Implementation period: 1–2 days.
Short positions can be opened at the level of 0.7285 with the targets at 0.7250, 0.7230 and stop loss 0.7320. Implementation period: 1–2 days

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  #535  
Old 07-02-2018, 12:37
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Default Re: Forex News Analysis by LiteForex

LiteForex: Brent Crude Oil: prices are decreasing

Current trend

This week, oil prices continued to fall. The market is under correction due to a revitalization of US shale oil producers.
According to Baker Hughes, last week number of rigs in the USA grew again by 6 units to 765, and in Canada, the number reached 234 units. Shale oil is expanding its presence in the world markets, objectively reducing OPEC+ Agreement effectiveness. According to Bloomberg, in December the supplies from the USA to UAE reached the level of 700 000 barrel. United Emirates produce millions of barrels of “black gold” itself, but shale oil is cheaper and cheaper in processing.
Yesterday’s API Crude Oil Stocks change release unexpectedly reflected the decrease of raw oil by 1.050 million barrel and gas resources by 0.227 million barrel, however, it supported the price slightly. The investors are focused on the EIA Crude Oil Stocks change publication; the growth by 3.189 million barrel is expected.

Support and resistance

The price has consolidated within the range of 66.40–67.18 (Murray [1/8] and [2/8]). The breakdown of its lower border will let the price fall to the levels of 65.62 (Murray [0/8]) and 64.84 (Murray [–1/8]), the breakout of the upper border will let it grow to the levels of 67.96 (Murray [3/8]) and 69.53 (Murray [4/8]). Technical indicators do not give a clear signal. Stochastic is reversing downwards, MACD histogram is decreasing in the negative zone.
Resistance levels: 67.18, 67.96, 68.75.
Support levels: 66.40, 65.62, 64.84.

Trading tips

Short positions can be opened below the level of 66.40 with the targets at 65.62, 64.84 and stop loss 66.70.
Long positions can be opened after the price is set above the level of 67.18 with the targets at 67.96, 68.75 and stop loss 66.90.

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  #536  
Old 09-02-2018, 13:06
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Default Re: Forex News Analysis by LiteForex

LiteForex: NZD/USD: the downward tendency remains

Current trend

NZD consolidated in a downward trend against USD after a long-term growth in the second half of 2017.
The pair is rapidly declining amid growing investment appeal to the oversold USD. It is worth noting that NZD also loses support from investors the more after each new level of support is taken over. Yesterday, the pair reached a new local minimum for the last month, the mark of 0.7180, after which it moved to the stage of an upward correction.
Today, one should not expect high volatility in the pair due to the lack of important macroeconomic data.

Support and resistance

After a significant fall in the pair in February, one can safely say about a break in the uptrend and the emergence of a downward trend. At the moment, one can determine the borders of the descending channel and open short positions on the peaks of upward corrections. In the medium term, the pair is expected to decline to key support levels of 0.7130, 0.7110.
Technical indicators changed direction on H4 chart: MACD indicates the continuation of the pair's decline, the volume of short positions remains high, and Bollinger Bands are directed downwards.
Support levels: 0.7200, 0.7180, 0.7130, 0.7110, 0.7070, 0.7000, 0.6930, 0.6800.
Resistance levels: 0.7250, 0.7275, 0.7290, 0.7310, 0.7335, 0.7370, 0.7400.

Trading tips

In this situation, short positions may be opened from the current level; pending orders can be opened from levels of 60.7250, 0.7275 with targets at 0.7130, 0.7110 and the stop-loss at 0.7275.

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  #537  
Old 12-02-2018, 12:46
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Posts: 88
Default Re: Forex News Analysis by LiteForex

LiteForex: AUD/USD: general review

Current trend

Last week, AUD weakened to its main competitors due to the indecisiveness of the Reserve Bank of Australia.
The regulator left the rate unchanged at the level of 1.5%, although investors have long been waiting for active action amid tightening of monetary policy by the banks of Canada, Great Britain and, of course, the Fed. Interestingly, the economic situation in Australia also contributes to higher rates: last year, inflation was near the target level of 2.0%, and the unemployment rate for the same period declined steadily, reaching a mark of 5.5%. Nevertheless, the RBA considers the current economic indicators are not enough.
Additional pressure on the Australian currency was exerted by the RBA head Philip Lowe, who said that raising interest rates by several central banks does not mean that Australia will also automatically follow this path.

Support and resistance

The price is trying to start an upward correction and is currently at the key mark of 0.7812 (the middle line of Murrey range [4/8]). Consolidating above it, the price can continue to rise to the levels of 0.7934 (Murrey [5/8], the middle line of Bollinger Bands) and 0.8056 (Murrey [6/8]). In the breakdown to the level of 0.7812, the decline may continue to the levels of 0.7690 (Murrey [3/8]) and 0.7568 (Murrey [2/8]).
Technical indicators don't provide a clear signal. MACD histogram is in the negative zone forming the buy signal. Stochastic is ready to leave the oversold zone.
Support levels: 0.7812, 0.7690, 0.7568.
Resistance levels: 0.7934, 0.8056.

Trading tips

Long positions may be opened if the price consolidates above 0.7812 mark from 0.7860 mark with targets of 0.7934, 0.8056 and the stop-loss at 0.7810. Short positions may be opened from 0.7765 mark with targets of 0.7690, 0.7568 and the stop-loss at 0.7815.

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  #538  
Old 13-02-2018, 13:57
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Default Re: Forex News Analysis by LiteForex

LiteForex: Brent Crude Oil: the upward correction can begin

Current trend

In the beginning of the week Brent price grew to the level of 64.00 but now returned to the area of 62.50 (Murray [0/8]). The market is under pressure of US shale oil producers, which can decrease in the nearest future due to the fall of oil prices to the levels, less profitable for production expanding (the area of 60.00–64.00). The possible decrease of shale oil sector activity is confirmed by recent Baker Hughes report. In the USA the oil rig number significantly increased (by 26 to 791) but in Canada, it is going down (by 13 to 221). US number can possibly decrease this week, which will cause the correction of the instrument.

Support and resistance

The technical picture reflects the possibility of growth. The price is near the strong support level of 62.50 on the border of Murray ([0/8]) range. If the price is set below it, the instrument can decrease to the levels of 60.93 (Murray [–1/8], Fibonacci correction 38.2%) and 59.37 (Murray [–2/8]). However, as Stochastic has reversed in the oversold area, the correction to the levels of 64.06 (Murray [1/8]) and 65.62 (Murray [2/8]) is possible.
Resistance levels: 64.06, 65.62, 67.12.
Support levels: 62.50, 60.93, 59.37.

Trading tips

Long positions can be opened at the level of 63.28 with the targets at 64.06, 65.62 and stop loss at around 62.20.
Short positions can be opened at the level of 62.00 with the targets at 60.93, 59.37 and stop loss at around 62.50.

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  #539  
Old 14-02-2018, 13:50
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Posts: 88
Default Re: Forex News Analysis by LiteForex

LiteForex: EUR/USD: waiting for statistics

Current trend

This week the pair was growing and increased by 0.98%, reached the level of 1.2390.
Today the investors are waiting for a block of US statistics to be published, the key one is January CPI release, which is expected to be mixed and can cause great volatility in the market. The MoM index is expected to grow from 0.2% to 0.3%, but the YoY one is supposed to decrease below the target level, from 2.1% to 1.9%, moreover, the core index can decrease from 1.8% to 1.7%. Earlier a number of FOMC members expressed concern about the insufficient inflation growth, which can lead to a slowing of interest rate growth. The recent correction of US stock market also affects the regulator negatively. However, the new head of Fed is optimistic: on Thursday, he stated that the regulator would monitor the situation but would keep the slight tightening of the monetary policy trend, as the slight normalization of the interest rate policy and a balance was developing.
Today the USD can be under pressure due to Q4 EU GDP release (the growth from 2.6% to 2.7% is expected) and US January Retail Sales data (can decrease from 0.4% to 0.2%).

Support and resistance

The price is around 1.2330 (Murray [5/8], the middle line of Bollinger Bands). The further growth of the price, confirmed by Stochastic, which is pointed upwards, can develop to the levels of 1.2450 (Murray [6/8]) and 1.2500. The breakdown of 1.2330 will let the price return to last week lows at the area of 1.2200 (Murray [4/8]).
Resistance levels: 1.2300, 1.2450, 1.2500.
Support levels: 1.2330, 1.2270, 1.2200.

Trading tips

Long positions can be opened above the level of 1.2300 with the targets at 1.2450, 1.2500 and stop loss at 1.2260.
Short positions can be opened after the price is set below the level of 1.2330 with the targets at 1.2270, 1.2200 and stop loss at around 1.2360.


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  #540  
Old 16-02-2018, 13:14
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Posts: 88
Default Re: Forex News Analysis by LiteForex

LiteForex: XAG/USD: Murrey analysis

On D1 chart, the price tests the bottom of the Murray channel at the level of 16.79 ([3/8]), strengthened by the descending middle line of Bollinger Bands. Its breakout and the continuation of the increase to the levels of 17.18 ([4/8]) and 17.57 ([5/8], upper Bollinger Bands) are possible, but a rollback to 16.40 ([2/8]), 16.00 ([1/8]) and 15.62 ([0/8]) marks is possible as well.
It should be noted that the indicators do not give a clear signal. Stochastic is close to the overbought zone, which is fraught with a reverse, and MACD histogram can go to the positive zone and form a buy signal in the near future.

Support and resistance

Support levels: 16.40 ([2/8]), 16.00 ([1/8]), 15.62 ([0/8]).
Resistance levels: 16.79 ([3/8], the middle line of Bollinger Bands), 17.18 ([4/8]), 17.57 ([5/8], the upper line of Bollinger Bands).

Trading tips

In this situation, buy positions should be opened only when the instrument is consolidated above the 16.79 mark from the level of 16.95 with targets of 17.18 and 17.57 and the stop-loss at 16.80. Short positions may be opened from the level of 16.65 with targets at 16.40, 16.00 and stop-loss at 16.78.

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