Anna Mon

Forex News from New Forex: Technical analysis of EUR/USD During the last three days the pair demonstrated a slight rise after a shock amid the referendum results in the UK devoted to leaving the European Union. In the trading on Thursday the price stands within the support at 1.1086 and resistance at 1.1117. Thus, we observe the continuation of the correctional period. In the short term a growth resumption might be possible in case of consolidating above the strong resistance level at 1.1167 which might give a way to 1.1252. For the opposite scenario the market should breach the support at 1.1050 which will help to go to 1.0971. Due to high market volatility sharp price movements do not exclude the continuation of consolidation. In a 4-hour timeframe EMA20 and EMA55 keep declining but the moving average with the period 20 days has slowed down and reverse. The MACD-histogram broke the even at the moment. The Stochastic informs about the overbought of the trading instrument. NewForex Analyst David Fineberg Forex News from New Forex: Technical analysis of GBP/USD During the whole week after Brexit results we observe high market volatility without the formation of a clear-cut trend movement. On Thursday the currency pair trades in mixed ways with a slight price rise remaining within the support level at 1.3357 and resistance at 1.3606. In the short term in a 4-hour timeframe the MACD-histogram is seen in the negative zone but is ascending now. The RSI is close to the central line and might move to the field above it. The Stochastic decreases sending signals to sell. A long-term technical structure remains negative which in its turn leads to the further market descend. NewForex Analyst David Fineberg

Forex News from New Forex: Pound sterling advances against the euro and the dollar On Wednesday, June 29, the pound sterling surges against the euro and the US dollar, the market recovers after Brexit. The currency instrument pound/dollar picked up 0.40% to 1.3395 after hitting a 31-year low at 1.3122. The pound climbed 0.41% versus the euro. The British currency is under pressure after the decision to leave the European Union, global markets are scared of financial consequences. Resignation of the UK’s Prime Minister David Cameron added political uncertainty to this situation. Today the EU leaders will continue discussing the consequences of Brexit at the summit in Brussels. The euro is under pressure due to Brexit as well. The pair euro/dollar slid 0.08% to 1.1055. Euro/yen shed 0.28% to 113.35. The US dollar has slightly gained after a 1.1% growth of the GDP in the first quarter instead of the expected 1.0%. The dollar index eased 0.01% to 96.18. NewForex Analyst Sara Rosenstein Forex News from New Forex: Gold and silver trade without losses Precious metals gain ground in the trading on Wednesday, market participants are ready to invest into safe assets after the unexpected decision of the UK to leave the European Union. Gold futures with the delivery in August picked up 0.17% to 1320.60 a troy ounce, yesterday they shed 0.51%. After the UK referendum the yellow metal hit a 27-month high at $1,362.60. Since the start of the year gold has risen by 25% amid concerns over the slowdown of global economic growth and delay of the interest rate hike in the USA. Meanwhile, if Brexit exerts considerable influence on markets, central banks might take measures to stabilize them, which might have a negative impact on gold positions. Spot gold climbed 0.48% to 1.318.40. In the nearest future metal might rise, uncertainty over the interest rate hike will lend support to gold. Silver futures with the delivery in September jumped 2.24% to 18.29 a troy ounce. NewForex Analyst Sara Rosenstein

Forex News from New Forex: Technical analysis of EUR/USD During the Asian trading session on Wednesday the single currency trades with a slight rate rise. On Tuesday the euro got support amid the general easing of the US dollar reaching 1.1111 and then bounced off to 1.1060-70, as the result tradings closed with a firm bullish candlestick on the day chart. However, the market could not fix outside yesterday’s support and resistance (1.1016 and 1.1066). The 14-day RSI remains below its central line, exponential moving averages with periods 20 and 55 days decline without any sign of crossing. The oscillator Stochastic decreases sending signals to sell. The MACD-histogram stands in the negative zone but rises slowly to the positive field. Thus, in the short run technical characteristics indicate a neutral market sentiment. For the uptrend the price should fix above the yesterday’s high at 1.1111. For the downtrend it should breach the current support at 1.1010 and then at 1.0982. NewForex Analyst David Fineberg Forex News from New Forex: Technical analysis of GBP/USD On Wednesday the pair is quite steady standing within the strong levels of support and resistance at 1.3272 and 1.3493 respectively testing the intermediate resistance at 1.3401. In the short run the pair will further consolidate. A long-term technical structure is prone to the bearish market sentiment in case of breaching the strong level of support at 1.3119 (a low since June 27). The MACD-histogram remains in the negative zone but rises. The RSI stands below its central line, the Stochastic sends a signal to sell. NewForex Analyst David Fineberg

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Bollinger Bands Plenty of indicators are used by traders to analyse the market, however only a small part of them can help to estimate the volatility of market processes. The indicator «Bollinger bands» is considered as a secure instrument and is used in many graphic analitical programmes. The indicator «Bollinger bands» was created in the 20th century by the financial analyst, the president of the company Bollinger Capital Management John Bollinger. Of course this indicator can not foresee the direction of the future price movement but it is able to prompt the moment when a strong price movement is expected. The indicator consists of only three lines.The line in the middle is a simple moving average, as a rule with the period of 20. The upper and the lower line, they determine 2 bands of the indicator, have an equal distance from the middle one. This distance is proportional to the volume of the mean square price range, this indicator characterizes the market volatility. Consequently, we observe narrow lines during calm periods and when the market is unstable Bollinger bands widen. There are drastic price changes when the bands meet during small and quite longstanding fluctuations of market prices. During this period the indicator will not prompt the direction of the future movement. Traders can outguess this direction by means of other instruments of technical analysis. If the price goes beyond one of the indicator borders, it might be a signal of the beginning of a new trend or the continuation of the previous trend after the correction. Fairly often the price forming a high or a low beyond the indicator lines returns inside the Bollinger bands. In this case the first target of the trader should be an average line.In the given picture there are a lot of examples. Thus, market extremums, which usually occur beyond Bollinger bands, indicate the change of market tendencies and the lines of the indicator represent strong levels of support/resistance and price consolidation. Due to this peculiarity of the indicator it can be a base for a really working trading system. The efficiency of Bollinger bands becomes apparent together with other indicators and if they confirm signals of turnback or clearance, the probability that an open position will be profitable sharply increases. It is worth combining Bollinger bands with indicators of volume «MACD» or «Stochastic». However, it is worth remembering that work with Bollinger bands requires from the trader sufficient experience and necessary skills acquiring which it will be possible to estimate the placement of forces in the market and take proactive decisions about the trades.

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