Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands).
Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands). Daily reviews and forecast are available at LiteForex site Forex Trading : Top Forex Broker : LiteForex
Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands). Daily reviews and forecast are available at LiteForex site Forex Trading : Top Forex Broker : LiteForex
Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands). Daily reviews and forecast are available at LiteForex site Forex Trading : Top Forex Broker : LiteForex
Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands). Daily reviews and forecast are available at LiteForex site Forex Trading : Top Forex Broker : LiteForex
Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands). Daily reviews and forecast are available at LiteForex site Forex Trading : Top Forex Broker : LiteForex
Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands). Daily reviews and forecast are available at LiteForex site Forex Trading : Top Forex Broker : LiteForex
Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands). Daily reviews and forecast are available at LiteForex site Forex Trading : Top Forex Broker : LiteForex
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Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands). Daily reviews and forecast are available at LiteForex site Forex Trading : Top Forex Broker : LiteForex
Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands). Daily reviews and forecast are available at LiteForex site Forex Trading : Top Forex Broker : LiteForex
Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands). Daily reviews and forecast are available at LiteForex site Forex Trading : Top Forex Broker : LiteForex
Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands). Daily reviews and forecast are available at LiteForex site Forex Trading : Top Forex Broker : LiteForex
Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands). Daily reviews and forecast are available at LiteForex site Forex Trading : Top Forex Broker : LiteForex
Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands). Daily reviews and forecast are available at LiteForex site Forex Trading : Top Forex Broker : LiteForex
Weekly analytical video review for currency pairs EUR/USD, GBP/USD and USD/JPY 19-23 May 2014
Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands). Daily reviews and forecast are available at LiteForex site Forex Trading : Top Forex Broker : LiteForex
Weekly analytical video review for instruments EUR/USD, GBP/USD and USD/JPY based on fundamental analysis and technical indicators (MACD, Stochastic, Bollinger Bands). Daily reviews and forecast are available at LiteForex site Forex Trading : Top Forex Broker : LiteForex
With kind permission of the Forum Administration we continue to share with you our view of Forex market.
EUR/USD: general analysis
Current trend
At the end of last week, the EUR/USD pair fell due the difference between the ECB and Fed monetary policies.
The USD was supported by positive US labor market indicators for October. Non-farm Payrolls surged 271K from 153K, while analysts expected a growth by 180K. Unemployment rate declined from 5.1% to 5.0%. Amid the abovementioned statistics, at present, economists see more than a 76% chance of a rate hike as early as this December.
Moreover, the ECB is about to extend its quantitative easing programme that adds even more pressure on the EUR/USD pair.
Support and resistance
On the daily chart, MACD indicator is below its signal line, forming a sell signal. Stochastic lines are in the oversold zone and ready to turn up.
The pair is likely grow to the level of 1.0893 during an upward correction and then resume its downward trend.
Support levels: 1.0700, 1.0600, 1.0520.
Resistance levels: 1.0800, 1.0893, 1.1000.
Trading tips
Long positions can be opened after the breakout of the level of 1.0810 with the target at 1.0890 and stop-loss at 1.0790.
Short positions can be opened from the level of 1.0690 with targets at 1.0600, 1.0520 and stop-loss at 1.0720.
GBP/USD: general analysis
Current trend
Yesterday, the GBP managed to strengthen against the USD despite a decline at the close of trading.
The National Statistics released UK Retail Sales data for October. After a 1.7% rise in September, the indicator came in at -0.6%, below the forecasted -0.5%. Retail Sales ex-fuel also fell by 0.9%, while analysts expected a decline by 0.5%.
Initial Jobless Claims statistics, released in the US, confirmed the forecast and indicated a decline from 276K to 271K in November. At the same time, according to Philadelphia Fed Manufacturing Survey, the index of manufacturing conditions came in at 1.9 points, well above the forecasted -1.0 and the previous -4.5 points.
Recent FOMC Minutes showed that a majority of Fed officials favor a hike in the US interest rates at the upcoming Fed meeting.
Support and resistance
Support level: 1.5254 (MA50).
Resistance level: 1.5335 (yesterday’s high).
Trading tips
Short positions can be opened from the current level with the target at 1.5171 and stop-loss at 1.5250.