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Forex Discussions And News

Discussion in 'Advertising Forum' started by Meeru, Feb 25, 2016.

  1. Meeru

    Meeru Active Member

    You Are Welcome

    EUR/USD: High volatility in the market continues. Technical analysis for 29/06/2016

    2016-06-29 12:08:04
    Review and dynamics
    While the UK tries to define its future relationship with the EU, the volatility in the markets continues. The pair EUR/USD has closely approached resistance level of 1.1100 (the lows of September and May), which is crossed by the lower line of the ascending channel on the weekly chart with the upper limit at the level of 1.1785 (Fibonacci 38.2% to the last wave of decline from the highs of 2014, ЕМА144 on the weekly chart).

    However, until the divorce proceedings between UK and the EU are not completed, Euro will remain under pressure.

    Our opinion
    Some important European statistics is scheduled for the release today at 11:00 GMT+2; American statistics will become known from 14:30 to 16:00. This data can become the main fundamental driver today.

    Positive European and American statistics will add momentum to the pair UR/USD.

    If the pair breaks down the level of 1.1100, the pair EUR/USD can go up in the ascending channel with the nearest target of 1.1200 (ЕМА200, ЕМА144 on the daily chart).

    As an alternative scenario the pair can go down in a new descending channel on the daily chart with the lower limit at the level of 1.0915, the lows of June.

    Sell positions are advisable after the reversal of the indicators OsMA and Stochastic towards the short positions on 4-hour chart. On the daily, weekly and monthly charts the indicators give signals to sell.

    Support levels: 1.1065, 1.1000, 1.0915 and 1.0750.
    Resistance levels: 1.1100, 1.1200, 1.1285, 1.1300, 1.1400, 1.1430, 1.1485 and 1.1535.

    Trading tips
    Sell Stop: 1.1060. Stop-Loss: 1.1110. Targets: 1.1000, 1.0915, 1.0870 and 1.0800.
    Buy Stop: 1.1120. Stop-Loss: 1.1080. Targets: 1.1200, 1.1285, 1.1300, 1.1400, 1.1430, 1.1485 and 1.1500.



    [​IMG]
  2. Meeru

    Meeru Active Member

    GBP/USD: market participants are waiting for the speech by the head of the Bank of England, Mark Carney. Fundamental analysis for 30.06.2016

    Although many economists and international analysts continue to give gloomy prospects of the British pound and stock market, and the demand for safe-haven assets, such as the yen and gold is still very high, risk appetite among some market participants is increasing and they buy risky assets and the pound, particularly in the pair GBP/USD.

    The results of the UK referendum will affect the world's financial markets for a long time; however, some economists believe that the worst is over.

    British Finance Minister Mr. George Osborne assured market participants that the British economy is strong and stable, and the banks and financial system in the UK will be unable to cope with the situation.

    Sooner or later the EU and the UK will come to agreement which will satisfy major participants of the financial market.

    After the referendum the pair GBP/USD fell by 11%, reaching the level of 1.3470 today, from the level of 1.5000, losing over 1500 points. Temptation of opening long positions at the current level is very high.

    But remember that, the decline in the Pound and the pair GBP/USD can continue.

    US Fed policy can prevent further decline in the pair, as the Fed continues to show adherence to soft monetary policy. Futures markets have incorporated in price 17% chance of reduction in the rates instead of the increase at the meeting in November.

    Fed Governor Jerome Powell said on Wednesday that the Fed is in no hurry to raise interest rates.

    Today at 19:30 (GMT+2), the President of Fed St. Louis, Mr. James Bullard will give a speech. Mr. Bullard's comments may indicate whether the Fed is planning to raise rates this year, or lower them.

    Today at 17:00, a head of the Bank of England, Mr. Mark Carney will give a speech. Do not forget that market volatility at this time can increase, especially in the pair with the Pound. Speeches by Mark Carney have already changed movement direction in the markets not once. It is possible that his speech will become a starting point of the rise in the Pound in the foreign exchange market, or on the contrary, may trigger its further decline.

    Be careful when making trading decisions during this time period.


    [​IMG]
  3. Meeru

    Meeru Active Member

    USD/CAD: Wave analysis and forecast for 01.07 – 08.07:

    Estimated pivot point is at the level of 1.2912.

    Our opinion: Buy the pair from correction above the level of 1.3175 with the target of 1.3294. If the price consolidates below the level of 1.2912, sell with the target of 1.2630.

    Alternative scenario: Breakdown and consolidation of the price below the level of 1.2912 will trigger further decline to 1.2630 – 1.25.

    Analysis: Presumably, the formation of the upward correction is nearing completion in the wave B of the senior level. At the moment, it seems that the wave с of B is being developed, within which the fourth wave (iv) of the diagonal triangle has co0mpleted. If this assumption is correct, the pair may continue to rise to 1.3175 in the fifth wave (v). Critical level for this scenario is 1.2912.
  4. Meeru

    Meeru Active Member

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  5. Meeru

    Meeru Active Member

    USD/CAD: Interest rate decision in Canada. Fundamental analysis for 13.07.16


    Following the release of the US labor market data last Friday, including positive NFPR, the USD rose in the pair USD/CAD. It became known that NFPR in June increased by 287.000 against the forecast of 175.000. Unemployment rate rose to 4.9% against the forecast of 4.8% and 4.7% in May, Note, that unemployment rate in the USA has been below the level of 5.0% for a few consecutive months.

    At the same time, Canadian data on the labor market was weak. Unemployment rate in Canada fell in June (6.8% against 6.9% in May). However, economists believe that the number of people who are looking for a job has decreased. Reduction of the jobs in Canada in June amounted to 700 against the expectation that the number of jobs will grow by 5000.

    Today at 16:00 GMT + 2, The Bank of Canada will adopt interest rates decision. Currently, the rate in Canada is at the level of 0.5%, and, according to market participants, the Bank of Canada is likely to leave it unchanged. The rise in the housing prices in some regions of Canada, as well as record level of the household debt will prevent the Bank of Canada from easing monetary policy, despite the decline in oil prices and other weak macroeconomic indicators of the economy of the country.

    However, even if the Bank of Canada will leave interest rate unchanged today, volatility in the Canadian dollar is expected to be high.

    However, in general, the pair USD/CAD will be strongly affected by the movement in the USD and changes in oil price, which has been declining lately.

    Considering also, that the US Fed continues to tighten monetary policy and US macro-economic data is positive, the pair USD/CAD may go up in the medium term.
  6. Meeru

    Meeru Active Member

    Analytical review:

    In the past two weeks the price of the Australian dollar has grown by 200 points against the USD. At the moment resistance level for the pair 0.7650;
    Yesterday, important Australian statistics was released, which showed that the change in the employment rate in June was 7900, which is lower than the previous level of 19200;
    According to the US Bureau of Labor Statistics, producer price index (PPI) June has grown to 0.5% against the previous value of 0.4% and market expectations of 0.3%;
    The AUD is a commodity currency. The decline in oil prices puts pressure on the AUD. During the Asian session the price of crude oil WTI fell by over 1%;
    “Commitments of Traders” shows the increase in number of short positions by 6074 contracts, up to 29008. 19512 contracts have been opened for the short positions.
  7. Meeru

    Meeru Active Member

    GBP/USD: Decline in the Pound can continue.

    Since the opening of today’s trading session the pair GBP/USD continued to rise; however, at the opening of the European session the pair started to decline, reaching the level of 1.3340.

    On the hourly chart the indicators OsMA and Stochastic give signals to sell. If the decline resumes today, the pair can fall below the level of 1.3230, which is close to ЕМА200 on the hourly chart and ЕМА50 on 4-hour chart; after that the decline will continue.
  8. Meeru

    Meeru Active Member

    Analytical review of the currency pair AUD/USD

    In the past two weeks the price of the Australian dollar has grown by 200 points against the USD. At the moment resistance level for the pair 0.7650;
    Yesterday, important Australian statistics was released, which showed that the change in the employment rate in June was 7900, which is lower than the previous level of 19200;
    According to the US Bureau of Labor Statistics, producer price index (PPI) June has grown to 0.5% against the previous value of 0.4% and market expectations of 0.3%;
    The AUD is a commodity currency. The decline in oil prices puts pressure on the AUD. During the Asian session the price of crude oil WTI fell by over 1%;
    “Commitments of Traders” shows the increase in number of short positions by 6074 contracts, up to 29008. 19512 contracts have been opened for the short positions.
  9. Meeru

    Meeru Active Member

    USD/CHF: The pair has been growing for the fourth consecutive week


    Following the intervention conducted by Swiss National Bank straight after the announcement of referendum results in the UK, the pair USD/CHF has been growing for the fourth consecutive week.

    Although Swiss economy is in the relatively good condition, (unemployment rate in the country is one of the lowest in Europe and in the world (about to 3%)), some economists believe that GDP growth in Switzerland will not exceed the level of 1% - 1.5% in the next three to five years.

    The data released at the beginning of this month showed the decline in inflation and consumer confidence. Actual volume of retail sales fell in June (-1.6% in June on annual basis vs. -1.9% in May).

    Another important indicator of the state of Swiss economy, PMI SVME, assessing business conditions in the manufacturing sector of Switzerland, also fell in June (51.6 in June against the forecast of 55.4 and 55.8 in May).

    Traditionally, National Bank of Switzerland reiterates that national currency is overvalued, which according to SNB impedes economic growth in the country. Current interest rate on deposits in Switzerland is in negative territory, at the level of -0.75%.

    However, although the lowering of the Franc’s status as a safe currency asset, (due to the actions by SNB in the currency market), Franc is still in demand among investors.

    With the decrease of concerns associated with Brexit, investors’ risk appetite is increasing, which is demonstrated by the rise in the world stock indices. Demand for the USD is also increasing. Note that despite the turbulence in global financial markets, the Fed continues monetary policy tightening.

    Comments of the Fed representative about it are very reserved.

    Improvement in the global markets sentiments can change expectations of the interest rate increase in the USA, given that concerns about consequences of Brexit are decreasing, and the number of new jobs in the USA has grown in June. These facts will support the demand for the USD, and for the pair USD/CHF.
  10. Meeru

    Meeru Active Member

    Analytical review of the stocks of JPMorgan


    The price of the issuer has grown by 6% over the past week. It is expected that the rise will continue. The rise in the American stock market has a positive impact on the company’s stocks;
    The company ranks the fourth on capitalization in the sector of finance among the issuers traded in the American stock market;
    Company’s last report has increased investors’ confidence to the company’s business. Company’s results have exceeded market expectations. Company’s revenue amounted to 24.1 billion USD against the forecast of 23.8 billion USD. Net profit r(earnings per share) exceeded market expectations by 7%, amounting to $1.35;
    Company is attractive for the long-term investments. The company duly pays off dividends to its shareholders. Dividend yield (3.04%) of the company is higher than the average yield in the industry (2.38%);
    The company continues to expand its business. Recently, JPMorgan received approval from the Reserve Bank of India for opening three affiliates in the main business cities of the country. They will start to operate in the next few months;
    Institutional funds own 75% of the company’s shares. The largest part of the shares belongs to Vanguard Group (6.15%) and State Street Corporation (4.24%)..
  11. Meeru

    Meeru Active Member

    NZD/USD: The pair continues to decline

    Today, after the announcement that the RBNZ will soon toughen mortgage conditions, the pair NZD/USD fell by 90 points. On Thursday the RBNZ will present assessment of the current economic situation in the country. Some economists believe that the Bank is taking this measure in order to find grounds for lowering interest rate at the next meeting.

    After reaching new annual highs at the level of 0.7320 (upper line of the ascending channel on the daily chart), the pair NZD/USD has been declining for a fifth consecutive session. The price has broken important support levels of 0.7290 (ЕМА144 on the weekly chart), 0.7240 (Fibonacci 38.2% to the decline of the pair from the level of 0.8800, since July 2014), 0.7100 (ЕМА200 on 4-hour chart) and 0.7045 (ЕМА50 on the daily chart).

    Our opinion
    The pair can continue to decline to support levels 0.6930 (ЕМА50 on the daily chart), 0.6895 (ЕМА200, ЕМА144 on the daily chart) and 0.6860 (Fibonacci 23.6%). Our previous review stated that in case of breakout of the level of 0.7100, the decline in the pair can continue. The pair has broken out important support levels and continued to decline. On the daily and 4-hour charts the indicators OsMA and Stochastic give sell signals. On the weekly and monthly charts the indicators also suggest to open short positions.
  12. Meeru

    Meeru Active Member

    NZD/USD: the pair is under pressure. Technical analysis for 26.07.2016


    Since last September the pair NZD/USD has been in the ascending channel with the upper limit at the level of 0.7380 (ЕМА200 on the weekly chart).

    By mid-July the pair has reached the level of 0.7300, which is close to the resistance level and the line ЕМА144 on the weekly chart.

    The pair NZD/USD has regained the losses and reached Fibonacci level of 38.2% after the wave of decline from the level of 0.8800 since July 2014.

    Last week, the RBNZ presented new economic forecast and RBNZ Governor and Mr. Graeme Wheeler said that more monetary policy easing would be required in the country. These two facts caused sharp decline in the NZD in the currency market. The pair NZD/USD fell to the support level of 0.6975 (the lower line of the ascending channel on the daily chart).

    Our opinion
    Today, the pair NZD/USD rose by 100 points up to resistance level of 0.7075 (ЕМА200 on 4-hour chart).

    If the pair consolidates above the level of 0.7100, upward correction can continue up to 0.7240 (Fibonacci 38.2%).

    Otherwise, the pair may break down support level of 0.6975 and continue to decline to 0.6895 and 0.6860. If the price breaks down the level of 0.6860, the pair NZD/USD may go back to the downtrend.

    On 4-hour and daily charts the indicators OsMA and Stochastic give buy signals, while the indicators on the weekly chart suggest to open sell positions.

    Judging by the fundamental factors the pair NZD/USD is likely to decline in the medium-term. Despite today’s rise, the pair is unlikely to exceed the level of 0.7100.

    Support levels: 0.6975, 0.6895 and 0.6860.
    Resistance levels: 0.7100, 0.7130, 0.7200, 0.7240, 0.7290 and 0.7320.

    Trading tips
    Sell Stop: 0.7050. Stop-Loss: 0.7110. Take-Profit: 0.6975, 0.6900, 0.6860 and 0.6800.
    Buy Stop: 0.7130. Stop-Loss: 0.7080. Take-Profit: 0.7200, 0.7240, 0.7290 and 0.7320.
  13. Meeru

    Meeru Active Member

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  14. Meeru

    Meeru Active Member

    USD/JPY: The pair is at the resistance levels of 105.60 and 106.50. Technical analysis for 27.07.2016


    After the statements made of Japanese Prime Minister Mr. Shinzo Abe' about introduction of the new economic stimulus program for 28 trillion yen, the Yen fell sharply in the market, while the pair USD/JPY soared up to 106.50. However, later the pair fell and at the beginning of the European session was at the resistance level of 105.60 (ЕМА50 on the daily chart and Fibonacci 23.6% to the decrease since June 2015 from the level of 125.65).

    On the daily and weekly charts the pair is in the descending channels, while on the weekly chart technical indicators have reversed towards the long positions.

    On 4- hour chart the price is in the ascending channel with the upper limit at the level of 109.00 and above support level of 105.00 (ЕМА200), the indicators OsMA and Stochastic give signals for long positions.

    The pair consolidated above the key support levels on the monthly chart (ЕМА200, ЕМА144), which cross the level of 104.00.

    Our opinion
    If the pair will maintains the level above 104.00 and 105.00 before interest rate decision by the Bank of Japan on Friday at (02:00 GMT), the rise in the pair it is likely to continue.

    Medium term rise in the pair USD/JPY is possible after break down of the resistance levels of 106.50 and 107.35 (highs of July) and 107.90 (ЕМА200 on the weekly chart).

    The rise in the pair above the level of 110.10 (ЕМА144 on daily and weekly charts, Fibonacci 38.2) can trigger further growth in the pair USD/JPY up to levels of 111.25 (ЕМА200 on the daily chart) and 113.00 (Fibonacci 50.0%).

    Anyway, further movement in the pair will largely depend on the decisions by the bank of Japan and the US Fed, investors risk appetite and optimism on the world financial markets.

    The yen and gold remains are still safe-haven assets amid the ongoing instability in global financial markets.

    Alternative scenario suggests that the pair USD/JPY will break down support level of 104.00 and go below the level of 100.60 in the descending channels on the daily and weekly charts with the lower limit at the level of 95.00.

    Support levels: 105.00, 104.40, 104.00, 103.60, 102.60, 102.00, 101.50, 101.00 and 100.60.
    Resistance levels: 105.60, 106.50, 107.35, 107.90, 110.10 and 111.25.

    Trading tips
    Buy Stop: 106.10. Stop Loss: 105.50. Take-Profit: 106.50, 107.35, 107.90, 108.50 and 110.10.
    Sell Stop: 104.90. Stop Loss: 105.40. Take-Profit: 104.40, 104.00, 103.60, 102.60, 102.00, 101.50, 101.00 and 100.60
  15. Meeru

    Meeru Active Member

    AUD/USD: rebound from support level of 0.7445. Technical analysis for 26/07/2016


    Review and dynamics
    With the opening of today's trading session the pair AUDUSD has been growing. Traders are closing short positions on the Australian dollar in anticipation of tomorrow's data on inflation in Australia for Q2.

    If case of the negative inflation data, the RBA is likely to lower interest rates at the meeting on 2 August. The decline in the interest rates will trigger the fall in the Australian dollar.

    At the moment the pair is traded at the level of 0.7520, after the rebound from support level of 0.7470 (ЕМА50 on the daily chart), 0.7445 (Fibonacci 23.6% to the wave of decline since July 2014) at the beginning of this week.

    The pair AUD/USD remains in the ascending channels on the daily and weekly charts above support levels of 0.7415 (ЕМА144, ЕМА200 on the daily chart) and 0.7445.

    Our opinion
    Difference in the monetary policies of the US Fed and the RBA and the decline in oil prices put pressure on the AUD. The rise in the pair will not exceed the level of 0.7670.

    In case of breakout of support level of 0.7415, the pair will go to the nest support level of 0.7350 (lower line of the ascending channel on the daily chart) and further down to 0.7140 (lows of May).

    The indicators OsMA and Stochastic do not give clear signals. On the weekly chart the indicators give signals for short positions; while the indicators on 4-hour chart suggest to open buy positions. A lot will depend on inflation data, which will be released tomorrow.

    On the other hand, as long as the price remains above the levels of 0.7445 and 0.7415 there is a high probability that upward correction will continue in the channel on the daily chart with the upper limit near the level of 0.7670 (highs of July). In case of the positive statistics on the state of the Australian economy and labour market, the rise may go up to the levels 0.7720, 0.7820 (Fibonacci 38.2%), 0.8030 (ЕМА144 and the upper limit of the ascending channel on the weekly chart), 0.8130 (Fibonacci 50.0%).

    Support levels: 0.7500, 0.7470, 0.7445, 0.7415, 0.7350, 0.7290 and 0.7200.
    Resistance levels: 0.7615, 0.7670, 0.7720, 0.7800 and 0.7820.

    Trading tips
    Sell on the market. Stop-Loss: 0.7540. Take-Profit: 0.7470, 0.7445, 0.7415, 0.7400, 0.7350, 0.7300, 0.7260, 0.7200 and 0.7140.
    Buy Stop: 0.7540. Stop-Loss: 0.7490. Take-Profit: 0.7600, 0.7615, 0.7670, 0.7720 and 0.7820.
  16. Meeru

    Meeru Active Member

    EUR/USD: breakout of the level of 1.0970 is required. Technical analysis for 25/07/2016.


    Review and dynamics
    Trading is sluggish in the financial markets this Monday amid anticipation of the important decisions scheduled for this week. Trading volume is low.
    On the daily chart the pair EUR/USD is in the middle of the descending channel, on the weekly chart the pair is at the lower line of the ascending channel, close to the level of 1.0970.

    Our opinion
    On the daily and weekly charts the indicators OsMA and Stochastic give signals for short positions; on the monthly chart the indicators are also reversing toward the sell positions.
    On the weekly chart the lower limit of the ascending channel crosses the level of 1.0970, the upper limit of the channel is close to the 1.1785 level (Fibonacci 38.2%to the last wave of decline from the highs of 2014, ЕМА144 on the weekly chart). Breakout of the lower limit of the channel and the level of 1.0970 (lows of July) can trigger further decline in the pair EUR/USD with the .targets at the levels of 1.0915, 1.0865, 1.0800 and 1.0750.
    In case of an alternative scenario the pair EUR/USD will go up to 1.1175 (ЕМА200, ЕМА144 on the daily chart).
    However, fundamental factors are in favor of the decline in the pair EUR/USD.

    Support levels: 1.0970, 1.0915, 1.0865, 1.0800 and 1.0750.
    Resistance levels: 1.1025, 1.1100, 1.1130, 1.1175, 1.1200, 1.1285, 1.1300, 1.1400, 1.1430, 1.1485 and 1.1535.

    Trading tips
    Sell on the market. Stop-Loss: 1.1035. Targets: 1.0915, 1.0865, 1.0800 and 1.0750.
    Buy Stop: 1.1040. Stop-Loss: 1.0980. Targets: 1.1100, 1.1130 and 1.1175.
  17. Meeru

    Meeru Active Member

    USD/JPY: Wave analysis and forecast


    Estimated pivot point is at the level of 104.50.

    Our opinion: Buy the pair from correction above the level of 104.50 with the target of 109.00.

    Alternative scenario: Breakout and consolidation of the price below the level of 104.50 will trigger further decline in the pair to 102.70 – 101.20.

    Analysis: Presumably, the formation of the large upward correction continues as the wave B, in which one-two impetus of the junior level (i) has been formed. At the moment, it seems that the local correction, as the irregular plane (ii), is nearing completion. If this assumption is correct, after the completion of the correction the pair will continue to rise up to 109.00.
  18. Meeru

    Meeru Active Member

    NZD/USD: The pair continues to decline. Technical analysis

    Today, after the announcement that the RBNZ will soon toughen mortgage conditions, the pair NZD/USD fell by 90 points. On Thursday the RBNZ will present assessment of the current economic situation in the country. Some economists believe that the Bank is taking this measure in order to find grounds for lowering interest rate at the next meeting.

    After reaching new annual highs at the level of 0.7320 (upper line of the ascending channel on the daily chart), the pair NZD/USD has been declining for a fifth consecutive session. The price has broken important support levels of 0.7290 (ЕМА144 on the weekly chart), 0.7240 (Fibonacci 38.2% to the decline of the pair from the level of 0.8800, since July 2014), 0.7100 (ЕМА200 on 4-hour chart) and 0.7045 (ЕМА50 on the daily chart).

    Our opinion
    The pair can continue to decline to support levels 0.6930 (ЕМА50 on the daily chart), 0.6895 (ЕМА200, ЕМА144 on the daily chart) and 0.6860 (Fibonacci 23.6%). Our previous review stated that in case of breakout of the level of 0.7100, the decline in the pair can continue. The pair has broken out important support levels and continued to decline. On the daily and 4-hour charts the indicators OsMA and Stochastic give sell signals. On the weekly and monthly charts the indicators also suggest to open short positions.

    As an alternative scenario the pair can go up above support level of 0.7100 (ЕМА200 on 4-hour chart). However, increasing expectations of the reduction in the interest rate will encourage investors to open short positions.


    Support levels: 0.7000, 0.6930, 0.6895 and 0.6860.
    Resistance levels: 0.7045, 0.7100, 0.7130, 0.7200, 0.7240, 0.7290 and 0.7320.

    Trading tips
    Sell on the market. Stop-Loss: 0.7050. Take-Profit: 0.7000, 0.6930, 0.6900 and 0.6860.
    Buy Stop: 0.7060. Stop-Loss: 0.7010. Take-Profit: 0.7100, 0.7130, 0.7200, 0.7240, 0.7290 and 0.7320
  19. Meeru

    Meeru Active Member

    Technical data of the currency pair:

    Previous closing: 1.3205;
    Daily range: 1.3204-1.3276;
    Opening: 1.3205;
    52- week range: 1.2796-1.5820;
    Annual revenue: -14.98%;
    Change in % for the previous day: +0.76;

    Analytical review:

    Over the past two weeks the GBP rose by over 350 points after the decline caused by Brexit. Now, support level of the pair is 1.3130;
    According to the data released by the British Office of National Statistics this week, consumer price index in June was 0.5% against the previous level of 0.35 and the forecast of 0.4%;
    British Office of National Statistics also reported that the number of applications for unemployment benefits rose by 400 last month against the forecast of 3500;
    “Commitments of Traders” shows the rise in long positions by 9992 contracts, up to 67558. 106073 contracts have been concluded for short positions;
    Today, retail sale volume in the UK will become known. On Friday business activity index in the manufacturing sector. This data can affect market volatility and movement direction in the pair.
    Summary:

    Positive British statistics provide support to the Pound. Technical analysis also showed that upward correction can continue. According to “COT” large investors prefer long positions;
    The BGP is likely to rise against the USD. It is advisable to open long positions.
    Trading tips for the currency pair GBP/USD

    Key levels:
    Support levels: 1.3130 and 1.2850.
    Resistance levels: 1.3475 and 1.3925.

    Long-term trading, D1
    Currently, the currency is traded at the support level of 1.3130. If the price maintains this level and in case of the respective (such as Price Action pattern), we recommend to open long positions. Risk per trade is not more than 2% of the capital. Stop order can be placed at the level of 1.3050. Take profit can be placed in parts at the levels of 1.3470, 1.3600 and 1.3750 with the use of trailing stops.
  20. Meeru

    Meeru Active Member

    Yesterday, US department of Energy reported the rise in oil stocks in the US terminals by 1.671 million barrels against expectation of the decline by 2.257 million barrels. Following this news the price of crude oil Brent fell to the level of 43.50 USD per barrel.

    Later, at 20:00 (GMT+2) US Fed announced its interest rate decision. It was decided to leave short-term interest rates at the previous level of 0.5%, on the ground that short-term risks for economic growth had reduced.

    For a short time, the USD sharply went up on the hope that the interest rates would be raised in September.
    However, the Fed did not clearly specify that the rates would be raised this year and investors’ sentiments have changed causing the decline in the USD against major currencies. It seems that the Regulator has not yet determined future monetary policy plans in the country.

    Today with the opening of the trading day, the US dollar has continued to decline against major currencies. At the same time oil prices also go down. U.S. terminals are oversupplied with oil. Current excess of oil has reached 30% compared with the average value for the same period over the past 5 years. The stock of oil in the USA reached the highs in the past 80 years, exceeding the level of 500 million barrels.

    Investors’ concerns about the excessive supply of oil in the world has led to the price reversal after the rally of the past five months, the highest level at the level of $52.80 per barrel of Brent crude oil was reached in June.

    Despite investors’ concerns, the USA continues to increase the number of drilling rigs. According to a report of Baker Hughes, an oilfield services company, the number of operating rigs in the USA rose to 371 units. Their number has been increasing for the fourth consecutive week.

    Continuing uncertainty in the global economy after Brexit has also contributed to the decline in the commodity prices, including oil.

    Some analysts believe that oil prices can go down to $40 per barre



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