Forex analytics: 1. Current trend
This Thursday the pair NZD/USD has declined under pressure of positive statistics from US. Preliminary GDP data have exceeded experts’ forecasts and reached the level of 2.5%. At the same time unemployment claims have decreased by 6 000. Showing the recovery of US economy, the statistics made investors believe that QE program will be ended soon. Demand of the Dollar has …
The EURUSD continued its bearish momentum yesterday bottomed at 1.3219. The bias remains bearish in nearest term and price is in a critical technical point. A clear break and daily/weekly close below 1.3200 could be an early signal of a bearish reversal scenario testing 1.3000 region. Immediate resistance is seen around 1.3254 (current high). A clear break above that area could lead price to neutral zone in nearest term testing 1.3300. On the upside, 1.3400 remains a key resistance which needs to be clearly broken to the upside to keep the bullish scenario intact.
The GBPUSD was indecisive yesterday. The bias remains neutral in nearest term. The major bullish scenario remains valid but as long as stays below 1.5550 – 1.5600 price is still in a bearish correction phase. Immediate support is seen around 1.5500 – 1.5480. A clear break below that area could trigger further bearish pressure testing 1.5400 key support area. A clear break and daily/weekly close below 1.5400 would be a threat to the bullish outlook and could be an early signal of a bearish reversal scenario.
The USDJPY continued its bullish momentum yesterday topped at 98.51 but traded lower earlier today hit 97.88. The bias is neutral in nearest term probably with a little bearish bias testing 97.50. Immediate resistance is seen around 98.40/51. A clear break above that area could trigger further bullish pressure testing 99.00 key resistance. A clear break above that area would activate my bullish mode.
The USDCHF continued its bullish momentum yesterday topped at 0.9321. The bias remains bullish in nearest term testing 0.9350. A clear break and daily/weekly close above that area would be a threat to the bearish scenario and could be an early signal of a bullish reversal scenario. Immediate support is seen around 0.9290. A clear break below that area could lead price to neutral zone in nearest term testing 0.9250/00 area.
Forex analytics: USD/CHF, H4
On the four-hour chart Tenkan-sen line has crossed Kijun-sen line from below, indicating a new wave of the uprising movement. Chinkou Span line is above the price chart; current cloud is ascending. The pair is still growing; one of the previous maximums of Chinkou Span line is expected to be a resistance level at 1.0552. Tenkan -sen line becomes the closest resistance line at …
Forex analytics: EUR/USD: general analysis
This Thursday Euro has lost more than 120 points due to the fundamental data from Germany. Unemployment rate stays the same at the level of 6.8%, though economists predicted a decrease. The other negative factor for the European currency was macroeconomic statistics from USA: GDP rate has surpassed the expectations and reached the level of 2.5%. In general experts …
Forex analytics: AUD/USD, H4
On the four-hour chart Tenkan-sen line has crossed Kijun-sen line from above, indicating the continuation of downward movement. Chinkou Span is below the price chart, current cloud is descending. The nearest resistance level is Kijun-sen line at 0.8981. One of the previous minimums of Chinkou Span line is expected to be a support level at 0.8904.
The situation on the …
Forex analytics: 1. Current trend
Yesterday the pair has fallen down to 1.3300, but couldn’t consolidate under the support level. During the European session we saw further downward movement, caused by investors’ anticipation of the positives stats from US. Preliminary GDP rate will rise by 2.2% indicating upswing in US economy. Unemployment claims will slightly decrease. If investors’ expectations aren’t …
Forex analytics: XAG/USD, H4
Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen line, the red one is directed steeply down while the blue one remains horizontal. Chinkou Span line is approaching the price chart from above, current Kumo is ascending. After long rise the price has fallen under the level of Tenkan-sen line and has met an obstacle at the level of Kijun-Sen (23.99). The closest …