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News of the day

Forex analytics: Today major releases come from USA: second preliminary GDP data for the IV quarter 2013 and Chicago PMI. Both forecasts are negative.
First preliminary data on GDP has lowered the indicator to 3.2%, comparing to the 3,6% in III quarter of 2013. Today’s figures will be even lower – 2.5%; they can weaken Dollar considerably. Moreover, decrease of GDP can slow down the curtailment of QE3 …

News of the day

Forex analytics: Today major releases come from USA: second preliminary GDP data for the IV quarter 2013 and Chicago PMI. Both forecasts are negative.
First preliminary data on GDP has lowered the indicator to 3.2%, comparing to the 3,6% in III quarter of 2013. Today’s figures will be even lower – 2.5%; they can weaken Dollar considerably. Moreover, decrease of GDP can slow down the curtailment of QE3 …

EUR/USD: general analysis

Forex analytics: Current trend 
Yesterday the pair EUR/USD reached ten-day highs at the level of 1.3642. Supported to Euro was provided by the rise in German consumer confidence index and the increase in money supply in Eurozone. Consumer confidence index reached the level of 8.5%, which was above the forecast; while money supply increased by 0.1% on annual basis. Unified European currency was also supported by …

EURUSD Daily Forecast: February 28

EURUSD Forecast        

The EURUSD attempted to push lower yesterday bottomed at 1.3642 but closed higher at 1.3709. The bias is neutral in nearest term probably with a little bullish bias testing 1.3750 but key resistance remains around 1.3850. Immediate support is seen around 1.3680. A clear break below that area could trigger further bearish pressure testing 1.3640 or lower. The ascending triangle bullish scenario remains valid but need a clear break above the triangle to give further confirmation to the bullish scenario testing 1.4000.

eurusddaily

GBPUSD Daily Forecast: February 28

GBPUSD Forecast

The GBPUSD had another indecisive movement yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term. Important intraday range to be closely watched is seen between 1.6730 – 1.6580. A clear break and daily close above 1.6730 could trigger further bullish pressure testing 1.6800 or higher. On the other hand, a clear break and daily close below 1.6580 would be a threat to the major bullish scenario. Overall I still prefer a bullish scenario.

gbpusddaily

USDJPY Daily Forecast: February 28

USDJPY Forecast

The USDJPY was indecisive yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term. Important intraday range to be closely watched is seen between 102.80 – 101.60. A clear break above 102.80 – 103.00 could potentially end the bearish correction phase. On the downside, a clear break below 101.60 could trigger further bearish pressure testing the trend line support and 100.80 area.

usdjpydaily

USDCHF Daily Forecast: February 28

USDCHF Forecast

The USDCHF failed to continue its bullish momentum yesterday bottomed at 0.8871. The bias is neutral in nearest term probably with a little bearish bias testing 0.8845 key intraday support. A clear break below that area could trigger further bearish pressure testing 0.8800 or lower.  Immediate resistance is seen around 0.8890 followed by 0.8930.

usdchfhourly

Forex: Ichimoku Clouds. Review of XAG/USD

Forex analytics: XAG/USD, H4
Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are horizontal. Chinkou Span line is below the price chart; current cloud has reversed from ascending to descending. After a long sideways movement the pair dropped down and entered the cloud. Tenkan-sen line (21.50) becomes the closest resistance level. The next obstacle for the price on its way down …

GBP/USD: analysis and forecast

Forex analytics: Current trend
Yesterday’s data on British GDP has actually not affected movement in the pair. GDP in Q4 2013 remains at the previous level of 0.7%, while on annual basis this index fell to 2.7%. Following the release of British GDP the pair fell to the level of 1.6620, however, by the end of the trading day returned to 1.6670, the level from which the pair started yesterday’s trading session. …

EURUSD Daily Forecast: February 27

EURUSD Forecast        

The EURUSD had a bearish momentum yesterday bottomed at 1.3661. The bias is bearish in nearest term testing 1.3625 – 1.3600. Immediate resistance is seen around 1.3715. A clear break above that area could lead price to neutral zone in nearest term testing 1.3770. The ascending triangle bullish scenario remains valid but need a clear break above the triangle to give further confirmation to the bullish scenario testing 1.4000.

eurusddaily

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