MikhailLF

LiteForex XAU/USD: gold price is going down Current trend During the trading session on Wednesday, September, 13, gold prices significantly went down and renewed the lows since the beginning of the month due to the preliminary information that Trumps’ Administration is ready to make public the awaited tax reform. According to unconfirmed reports, the details of the new plan can be disclosed next week. During the morning session in September, 14, the “bearish” moods prevail. The instrument is pressed by the poor Chinese macroeconomical statistics: Industrial Production in China slowed from +6.4% YoY to +6.0% YoY in August, while the analysts expected the fastening to +6.6% YoY. The growth of Retail Sales fell from +10.4% YoY to +10.1% YoY, which is also worse than expected value of +10.5% YoY. On Thursday the investors are waiting for the August consumer inflation data in the USA. The traders hope that the statistics will clear the perspectives of further monetary policy tightening. Support and resistance On the daily chart Bollinger Bands are reversing into flat. The price range is actively narrowing, reflecting the change of the trend in the short term. It’s better to use channel trading strategy. MACD is going down, keeping strong sell signal (the histogram is below the signal line). It’s better to keep current short positions, but wait to the clear signals to appear before opening new ones. Stochastic has reached the limit in the oversold area and reversed into flat. The readings of the indicators reflect the correctional growth appearance in the end of the week. It’s better to close profitable short positions. Resistance levels: 1325.65, 1334.32, 1343.98, 1350.00, 1357.15. Support levels: 1316.03, 1307.75, 1300.44, 1291.71. Trading tips Long positions can be opened after the reversal around 1316.03. Take profit is 1334.32 or 1343.98. Stop loss is 1312.00. Implementation period: 2-3 days. Steady breakdown 1316.03 can be a signal to open short positions with the target around 1300.00. Stop loss is 1328.50. Implementation period: 2-3 days. Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

LiteForex XAG/USD: silver dynamics is mixed Current trend During trading session on Tuesday, September, 12, silver prices insignificantly grew and stepped off the local minimum since the beginning of the month. The instrument is trying to enter the upward correction after downward gap opening on Monday due to the fall of the market demand on shelter assets after DPRK refused to test missiles last weekend, which helped to release the tense upon the North Korea situation. On Wednesday, September, 13, the investors are waiting for Producer Price Index publication at 14:30 (GMT+2) in the USA. The MoM value is expected to grow by 0.3% MoM after the fall by 0.1% MoM in the previous month. In addition, the Monthly Budget Statement will be published at 20:00 (GMT+2) in the USA. Support and resistance On the daily chart Bollinger Bands are steady growing. The price range is narrowing, reflecting the appearance of the controversial trade dynamic this week. It’s better to use the channel trading strategy. MACD is going down, keeping weakening sell signal (the histogram is below the signal line). It’s better to wait until the signal is clear, as current readings are uninformative. Stochastic has reached the border of the oversold area and reversed into flat, reacting to the attempt of correctional growth in the beginning of the week. It’s better to wait until the situation is clear and the indicator reverses fully. Resistance levels: 17.87, 18.00, 18.17. Support levels: 17.66, 17.53, 17.38, 17.27, 17.16. Trading tips Long positions can be opened after the breakout of the levels of 17.87 or 18.00. Take profit is 18.20–18.30. Stop loss is 17.80–17.70. Implementation period: 2-3 days. The alternative is the return of strong “bearish” trend after the breakdown of the level of 17.66. In this case it’s better to open short positions with the target around 17.30. Stop loss is 17.90. Implementation period: 2-3 days. Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

LiteForex USD/JPY: calmness in North Korea caused the growth of the pair Current trend The pair started the week with considerable growth connected with the release of tension in the Korean Peninsula. Investors waited for new missile tests on September 9, but Pyohgyang refused from provocative actions. On the other hand, on Monday the UN Security Council imposed a number of new sanctions on North Korea except for the most notable embargo on oil supply. This was also considered a positive action by the market. As a result, risk appetites returned to the market and by now let the pair reach the level of 109.70. Recent data on machine building orders (the volume of which reduced by 7.5% YoY in July) also put pressure on yen. Support and resistance Technically the pair has increased above the gathering of Fibo correction at 109.00 and is aiming at 110.00 (Fibo correction 38.2%, Murrey level [6/8]) to the area of the upper border of the downward channel. Breaking through this level will open a way for growth to 110.85 (Fibo correction 50.0%, Murrey level [8/8]). In case of reversal of the price around the level of 110.00 possible targets of the "bears" will be the levels of 109.00 (gathering of Fibo corrections), 108.60 (middle line of Bollinger Bands, Murrey level [2/8]) and 107.80 (Murrey level [0/8]). Technical indicators generally show growth but do not exclude the beginning of correction. Bollinger Bands are reversing upwards, and MACD histogram grows in the positive zone. Stochastic is in the overbought area but may leave it forming a sell signal. Support levels: 109.00, 108.60, 108.20, 107.80. Resistance levels: 110.00, 110.55, 110.85. Trading tips In the current situation long positions should be opened at the current price with targets at 110.00, 110.55, 110.85 and stop-loss at 109.40. Short positions should be opened below the level of 109.00 or in case of reversal near 110.00 with targets at 108.60, 108.20, 107.80 and stop-loss at 109.40 and 110.40. Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

LiteForex Brent Crude Oil: general review Current trend Last Friday the price of Brent oil reduced after the announcement of intermediary results of assessment of the damage caused by Harvey storm. The launch of operation of refineries in the Gulf of Mexico reduced the investors' concerns about a serious crisis in the US oil industry. The market reacted to this news by fixing profits in long positions which put additional pressure on the trading instrument. Moreover, according to EAI information, weekly reserves of crude oil in the USA increased by 4.6 mln barrels. At the same time gas prices have dropped, as the majority of the Americans decided to limit the use of personal cars due to Irma storm. No important macroeconomic data able to have considerably impact on the dynamics of the trading instrument are due today. Tomorrow attention should be paid to the release of the API report on oil stocks in the USA. Support and resistance On D1 chart the pair is trading in the upper part of Bollinger Bands. The indicator is directed to the side, and the price range is widening, indicating the continuation of the current trend. MACD histogram is in positive zone, keeping the signal for the opening of long positions. Stochastic has left the overbought zone and formed a strong sell signal. Support levels: 50.65, 51.65, 52.50, 53.40. Resistance levels: 54.40, 55.35, 56.30. Trading tips Long positions may be opened at the current price with targets at 54.80, 55.30 and stop-loss at 53.20. The period of implementation is 1-3 days. Short positions may be opened from the level of 53.35 with targets at 52.45 and stop-loss at 53.60. The period of implementation is 1-3 days.