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Forex News Analysis by LiteForex

Discussion in 'Forex Discussion' started by LiteForex Official, Nov 17, 2015.

  1. Mikhail Kurakin

    Mikhail Kurakin New Member

    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.

    [​IMG]
  2. Mikhail Kurakin

    Mikhail Kurakin New Member

    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.

    [​IMG]
  3. Mikhail Kurakin

    Mikhail Kurakin New Member

    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.

    [​IMG]
  4. Mikhail Kurakin

    Mikhail Kurakin New Member

    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.

    [​IMG]
  5. Mikhail Kurakin

    Mikhail Kurakin New Member

    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.

    [​IMG]
  6. Mikhail Kurakin

    Mikhail Kurakin New Member

    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.

    [​IMG]
  7. Mikhail Kurakin

    Mikhail Kurakin New Member

    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.

    [​IMG]

    Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/
  8. Mikhail Kurakin

    Mikhail Kurakin New Member

    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

    [​IMG]
  9. Mikhail Kurakin

    Mikhail Kurakin New Member

    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.

    [​IMG]
  10. Mikhail Kurakin

    Mikhail Kurakin New Member

    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.

    [​IMG]
  11. Mikhail Kurakin

    Mikhail Kurakin New Member

    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.

    [​IMG]
  12. Mikhail Kurakin

    Mikhail Kurakin New Member

    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.

    [​IMG]
  13. Mikhail Kurakin

    Mikhail Kurakin New Member

    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.


    [​IMG]
  14. Mikhail Kurakin

    Mikhail Kurakin New Member

    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.

    [​IMG]
  15. Mikhail Kurakin

    Mikhail Kurakin New Member

    LiteForex: Brent Crude Oil: general analysis

    Current trend

    Last week Brent prices grew to of the level 65.00, supported by the statement of Saudi Arabia Minister Khalid Al-Falih, who noted that OPEC and oil exporting countries should decrease the oil production further even after the market was balanced or the deficit appeared. The investors are also inspired by the news that OPEC and Russia are planning to continue the partnership after the end of OPEC+ Agreement.
    The experts say that now in Saudi Arabia the acceptable level of the price is 70 USD per barrel instead of 60 due to the implementation of the large modernization program Vision 2030, which supposes diversification and decrease of the Saudi Arabian dependence from the oil sector. In particular, the state oil company Saudi Aramco will be gone IPO. However, the financial “airbag” for the reformation period is not formed yet.
    Shale oil producers, as usual, has brought the main negative to the “black gold” market. Unexpectedly, US oil rig number has grown again (by 7 units to 798). The production is increasing, too, during the last week it went up to 10.271 million barrel per day, the next growth can cause another correction of the prices.

    Support and resistance

    The price is around 64.80 (Murray [3/8] H4, Fibonacci correction 23.6%) and can grow to the levels of 65.62 (Murray [2/8]) and 66.40 (Murray [5/8] H4, the middle line of Bollinger Bands). However, the consolidation of the price below the level of 64.00 (Murray [1/8]) can lead to the development of the downward correction to the levels of 62.50 (Murray [0/8]) and 60.93 (Murray [–1/8], Fibonacci correction 38.2%).
    Resistance levels: 65.62, 66.40, 67.18.
    Support levels: 64.00, 62.50, 60.93.

    Trading tips

    Long positions can be opened at the level of 65.10 with the targets at 65.62, 66.40 and stop loss around 64.80.
    Short positions can be opened below the level of 64.00 with the target at 62.50 and stop loss around 64.40.

    [​IMG]
  16. Jessie

    Jessie New Member

    What I think content is everything in the site. Very well you explain your tips, you much be present something authentic and unique.
    Thanks again keep posted.

    Forex Market Weekly Outlook - 19 February to 23 February 2018

    The US dollar had a volatile week, making a big negative turnaround on the inflation report but moving back up as the week drew to a close. What’s next? The FOMC minutes and several Fed speaker will have the chance to move markets. Here are the highlights for the upcoming week.

    read more forex analysis news
  17. Mikhail Kurakin

    Mikhail Kurakin New Member

    LiteForex: NZD/USD: Murray analysis

    On the daily chart, the price is corrected downwards from the area of 0.7446 ([+2/8]) and can return into the borders of the main trading Murray range. In case of breakdown of the level of 0.7324 ([8/8], the middle line of Bollinger Bands) the price can decrease to the level of 0.7200 ([6/8], the lower border of Bollinger Bands), which is confirmed by Stochastic leaving the overbought area. In addition, MACD histogram has the sighs of divergence with the price chart. If the price is set above the level of 0.7446, the growth to the level of 0.7558 ([6/8] W1, the area of the last July highs).

    Support and resistance

    Resistance levels: 0.7446 ([+2/8]), 0.7568 ([6/8] W1).
    Support levels: 0.7324 ([8/8]), 0.7200 ([6/8]), 0.7080 ([4/8]).

    Trading tips

    Short positions can be opened below the level of 0.7342 with the target at 0.7200 and stop loss at around 0.7380.
    Long positions can be opened after the price is set above the level of 0.7446 with the target at 0.7568 and stop loss at around 0.7390.

    [​IMG]
  18. Mikhail Kurakin

    Mikhail Kurakin New Member

    LiteForex: GBP/USD: the growth of unemployment affect the pound negatively

    Current trend

    This week the pair was trading within the sideways channel of 1.4038–1.3916.
    Today the instrument weakened to the lower border of the channel due to December growth of the UK unemployment level from 4.3% to 4.4%. Earlier the marked was hoping for soon stimulus decrease by the regulator. In January, UK CPI stayed on the same level 3.0% YoY, despite the expectations. This inspired the investors that Bank of England will have to increase the interest rate in the nearest future. However, the current state of the employment market can make the officials refrain from this step. Average Earnings including Bonus stayed on the same level of 2.5%, and Average Earnings excluding Bonus grew from 2.3% to 2.5%. In the evening BOE's Governor Carney speech can bring the volatility to the pair.
    In the long term, the pound is under pressure of further UK and EU relationship. The parties are trying to bargain for concessions. On Friday, EU Brexit negotiator Michel Barnier in the conference in Munich stated that the current UK position excluded any preferences in the trading between UK and EU.

    Support and resistance

    The price is trading around the lower border of the trading range 1.3916 (Murray [4/8], the lower border of Bollinger Bands), which is key for “bears”. The breakdown will let the instrument reach the levels of 1.3793 (Murray [2/8]) and 1.3672 (Murray [0/8]). The breakout of the key level of 1.4038 can cause the growth to the levels of 1.4100 (Murray [7/8]) and 1.4160 (Murray [8/8]). Technical indicators reflect the possibility of decrease; Stochastic and Bollinger Bands are pointed downwards.
    Resistance levels: 1.4038, 1.4100, 1.4160.
    Support levels: 1.3916, 1.3793, 1.3672.

    Trading tips

    Short positions can be opened below the level of 1.3916 with the targets at 1.3793, 1.3672 and stop loss 1.3960.
    Long positions can be opened above the level of 1.4038 with the targets at 1.4100, 1.4160 and stop loss 1.3990.

    [​IMG]
  19. Mikhail Kurakin

    Mikhail Kurakin New Member

    LiteForex:XAU/USD: Murray analysis

    On the daily chart, the price is trying to grow from the level of 1328.13 ([5/8]), but it is under pressure of the middle line of Bollinger Bands from behind. The key “bullish” level is 1343.75 ([6/8]), the breakout of it will let the price grow to the levels of 1359.38 ([5/8], the upper border of Bollinger Bands) and 1375.00 ([8/8]).
    After the consolidation of the price below the level of 1328.13 ([5/8]) it will return within the central Murray channel and can fall to the area of 1312.50 ([4/8], the lower border of Bollinger Bands) and 1296.88 ([5/8]).
    Technical indicators do not give a clear signal; Bollinger Bands are reversing downwards, MACD histogram is decreasing in the positive zone. Stochastic has reversed upwards.

    Support and resistance

    Resistance levels: 1343.75 ([6/8]), 1359.38 ([7/8]), 1375.00 ([8/8]).
    Support levels: 1328.13 ([5/8]), 1312.50 ([4/8]), 1296.88 ([3/8]).

    Trading tips

    Short positions can be opened below the level of 1328.13 or after the reversal at the level of 1343.75 with the targets at 1312.50, 1296.88 and stop loss 1335.00 and 1347.00 correspondingly.
    Long positions can be opened above the level of 1343.75 with the targets at 1359.38, 1375.00 and stop loss at 1338.00.

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  20. Mikhail Kurakin

    Mikhail Kurakin New Member

    LiteForex:WTI Crude Oil: general analysis

    Current trend

    Today WTI oil prices are trying to grow to the level of 62.50.
    The price is supported by the last API report, which reflected the growth of US oil resources by 0.933 million barrel, and gas resources by 1.910 million barrel. In the evening, the market is waiting for the corresponding EIA report, which can push the price upwards (the growth of resources by 2.077 million barrel is expected).
    However, the general situation in the market is mixed. OPEC officials claim that it would rebalance soon and that OPEC+ Agreement is effective, however, the volumes of US shale “black gold” production and sales are growing. Last week the oil export from the USA, according to EIA, exceeded 2 million barrel per day. All the facts are the treats to the further growth of the prices and cause negative reaction of exporting countries. The head of OPEC Mohammed Barkindo plans to dine with U.S. shale company executives next week in Houston. They are expected to negotiate upon shale oil sector limitation in order to keep the prices at the level of 60–70 USD per barrel. The value was mentioned as desired by Saudi Arabia Energy Minister Khalid Al-Falih.

    Support and resistance

    The price is trying to grow to the level of 62.50 (Murray [8/8]) and can reach the levels of 64.06 (Murray [+2/8]), 65.62 (Murray [+1/8] W1). The level of 62.50 (Murray [8/8]) is the key “bearish” level, the breakdown of it will let the price fall to the levels of 60.93 (Murray [6/8]) and 59.37 (Murray [4/8], [7/8] W1). However, the further growth is more possible, as Stochastic is ready to leave the oversold area.
    Resistance levels: 63.28, 64.06, 65.62.
    Support levels: 62.50, 61.72, 60.93.

    Trading tips

    Long positions can be opened at the current price with the targets at 64.06, 65.62, and stop loss 62.10.
    Short positions can be opened below the level of 62.50 with the target at 60.93 and stop loss around 62.80.

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