MikhailLF Posted August 7, 2018 Share Posted August 7, 2018 LiteForex analitics. Ethereum: general review Current trend After a serious fall last week, the cryptocurrency market stabilized. For a few days, the price of Ether is near 406.25. Investors are waiting for new drivers. Intercontinental Exchange (ICE), which owns the NYSE, announced work on the creation of a global platform called Bakkt. Through it, ICE plans to deposit the digital assets, and companies using Bakkt will be able to accept payments in cryptocurrencies. Meanwhile, the reliability of digital assets continues to cause doubts. Last week, the SEC denied Winklevoss twins to create an ETF based on Bitcoin under the pretext that the currency is not sufficiently protected from manipulations. Studies of the The Wall Street Journal confirmed the regulator's concerns: there are organized groups of traders on the market that can significantly influence the prices of digital assets through coordinated purchases or sales. Such methods have long been banned in the traditional market, but continue to be operated on the cryptocurrency one. Support and resistance Technically, Ether continues to trade in the downward channel and in case of breakdown of the level of 406.25 (Murrey [1/8]) it can decrease to 375.00 (Murrey [0/8]) and 312.50 (Murrey [-2/8]). However, Stochastics leaving the oversold zone suggests the possibility of an upward correction. The key for "bulls" is the level of 437.50 (Murrey [1/8], the midline of Bollinger Bands) above the upper border of the descending channel. If it's broken out, targets for growth will be 500.00 (Murrey [4/8]) and 531.25 (Murrey [5/8]). Support levels: 406.25, 375.00, 312.50. Resistance levels: 437.50, 500.00, 531.25. Trading tips Long positions may be opened above 437.50 with the target at 500.00 and stop loss at 410.00. Short positions may be opened from 395.00 with targets at 375.00, 312.50 and stop loss at 410.00. Implementation time: 3-5 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted August 9, 2018 Share Posted August 9, 2018 LiteForex analitics. FTSE: technical analysis FTSE, D1 On the daily chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is trying to turn down slightly below the border of the overbought zone. The Composite is growing, having broken out its longer MA. FTSE, H4 On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is about to test from above its longer MA, having failed the border of the overbought zone. The Composite is falling, having broken down its longer MA. Key levels Support levels: 7710.0 (local lows), 7676.0 (local lows), 7650.0 (local lows). Resistance levels: 7738.0 (local highs), 7790.0 (June highs), 7870.0 (local highs). Trading tips The price has retested its strong resistance near 7790.0. There is a chance of a downward correction. Short positions can be opened from the level of 7710.0 with targets at 7676.0, 7650.0 and stop-loss at 7738.0. Validity – 3-5 days. Long positions can be opened from the level of 7790.0 with the target at 7870.0 and stop-loss at 7745.0. Validity – 3-5 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted August 10, 2018 Share Posted August 10, 2018 LiteForex analitics. Cryptocurrency Market Review This week, the cryptocurrency market continued to correct downwards amid the new decisions of the US Securities and Exchange Commission (SEC). On Thursday, there was an attempt to growth, but in general the trend remains descending. At present, Bitcoin is traded around 6450.00 (–8.3%), Ethereum has fallen to 360.00 (–12.2%), Ripple declined to 0.3200 (–24.1%), Bitcoin Cash fell to the level of 590.00 (–20.1%), and Litecoin decreased to 61.26 (–21.0%). The SEC and the uncertainty surrounding the ETF solution continue to weigh on the cryptocurrency market. This week, the regulator postponed to the end of September consideration of the issue of allowing the VanEck and SolidX companies to create a Bitcoin ETF, citing the need for a more thorough analysis of the applications submitted. According to experts, out of 10 companies that applied to the SEC for the creation of ETF, VanEck and SolidX had the greatest chance of obtaining a permit, since they closely cooperate with the Cboe exchange, where they planned to place shares. Therefore, investors were disappointed by the decision of the regulator, hoping for an early solution of the issue. On the other hand, the VanEck and SolidX trust application was not declined immediately, as was the case with the Winklevoss brothers' request a week earlier. Probably, there is a fight of opinions in the SEC, and there is still a chance to receive approval of the application for the trust. Two approvals are needed to introduce a new investment product to the market from the SEC: one is needed for the ETF creation and another one is needed for the right to trade its shares. The second permit should be obtained by Cboe, but consideration of its application was postponed by the SEC to the end of September. Among other news of the market there is the intention of the company Opera Ltd. to launch a cryptocurrency wallet in the new version of the browser for the PC, because a similar product in Opera for Android was positively received by the cryptocurrency community. The research of the Wall Street Journal which confirmed the vulnerability of the digital assets market for fraud is also worth attention. The magazine found that there are organized groups of traders at the market that can significantly influence the prices of digital assets through simultaneous coordinated purchases or sales of currencies. In general, the trend towards a decrease remains in the cryptocurrency market. Next week, prices may continue the downward movement. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted August 13, 2018 Share Posted August 13, 2018 LiteForex analitics. WTI Crude Oil: general analysis Current trend Today, oil is trading around 67.00, Friday's growth has stopped. The traders are focused on the US anti-Iran sanctions. At the end of last week, Iranian Foreign Minister Javad Zarif said that there is no meeting with US officials planned in the near future, including the UN General Assembly to be held next month. The entry into force of US sanctions against the Iranian oil sector is scheduled for November 5. Refusal of dialogue means a continuation of the pressure of the USA on the importer countries to make them refuse of the Iranian oil? Which failed with China and Russia, but France and South Korea stopped cooperating with the Islamic Republic. Last year, Iran exported about 2.1 million barrels of oil per day. Probably, the flow will not be completely blocked, however, the US administration expects to reduce supplies by 0.7–1.0 million barrels per day. Support and resistance At present, the key "bullish" level is 67.18 (Murrey [6/8]). In case of breakout, the price may rise to the levels of 67.96 (Murrey [7/8]) and 68.75 (Murrey [8/8]). However, according to the reversal of the Bollinger Bands and Stochastic downwards, the price is more likely to fall to 65.62 (Murrey [4/8]) and 64.84 (Murrey [3/8]) after the breakdown of the level of 66.40 in the mid-range of Bollinger bands. Resistance levels: 67.18, 67.96, 68.75. Support levels: 66.40, 65.62, 64.84. Trading tips Short positions can be opened below the level of 66.40 with the targets at 65.62, 64.84 and stop loss 66.80. Long positions can be opened above the level of 67.18 with the targets at 67.96, 68.75 and stop loss around 66.90. Implementation period: 3–5 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted August 14, 2018 Share Posted August 14, 2018 LiteForex analitics. USD/CAD: instrument consolidates Current trend The US Dollar fell against the Canadian currency on Monday, 13 August, after renewing local highs since 24 July. As there is a lack of significant economic releases, USD moves due to technical factors. It is supported by strong July US inflation data. Instead of the expected growth, the consumer price index remained at the same level of 2.9%, but the base consumer price index rose from 2.3% to 2.4%. Investors are confident that the regulator will raise the interest rate twice more. Most likely, this will happen at the September and December Fed’s meetings. The key US data will be released on Wednesday, when the July data on retail sales and industrial production will be published. It is forecasted that the volume of retail sales may fall from 0.5% to 0.3%, and the index of industrial production can decrease from 0.6% to 0.3%. The implementation of forecasts can affect the USD negatively. Support and resistance The Bollinger Bands on the daily chart is showing a gradual reverse upwards. The price range is widening but cannot cope with high volatility on the market yet. The MACD is growing and keeping a quite strong buy signal (the histogram remains above the signal line). The Stochastic is growing but is approaching its maximum levels, suggesting the USD is overbought. Current indicators’ readings do not contradict further Bullish trend development. Support levels: 1.3100, 1.3061, 1.3000, 1.2961, 1.2900. Resistance levels: 1.3156, 1.3200, 1.3258, 1.3300. Trading tips Long positions can be opened after the breakout of the level of 1.3156 with targets at 1.3230, 1.3258 and stop-loss at 1.3100. Validity – 2-3 days. Short positions can be opened after the breakdown of the level of 1.3100 with the target at 1.3000 and stop-loss at 1.3150. Validity – 2-3 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted August 15, 2018 Share Posted August 15, 2018 LiteForex analitics. XAG/USD: technical analysis XAG/USD, D1 On the daily chart, the instrument is trading below the lower line of the Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is testing the border of the oversold zone, beginning to form a Bullish divergence with the price. The Composite is showing similar dynamics. XAG/USD, H4 On the 4-hour chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is about to test its most recent support. The Composite has turned down as well, having retested its longer MA. Key levels Support levels: 14.60 (December 2015 highs), 14.30 (July 2017 lows), 13.95 (August 2015 lows). Resistance levels: 15.05 (local highs), 15.25 (local highs), 15.60 (December 2017 lows). Trading tips The price is approaching the lower border of its long-term descending channel. The is a chance of an upward reverse. Long positions can be opened from the level of 15.05 with targets at 15.25, 15.60 and stop-loss at 14.90. Validity – 3-5 days. Short positions can be opened from the level of 14.60 with targets at 14.30, 13.95 and stop-loss at 14.80. Validity – 3-5 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted August 16, 2018 Share Posted August 16, 2018 LiteForex analitics. Ethereum: general review Current trend After the decline of the beginning of the week, quotations of Ether have attempted to grow. On Wednesday, the instrument exceeded the 300.00 level, but is now trading around 281.25 (Murray [1/8]). It is difficult to say how strong the upward momentum will be, as the situation on the market remains unstable. Its total capitalization continues to fall – from early August it fell from 278 to 203 billion dollars, which indicates a serious outflow of investors after the refusal or transfer by SEC of a number of applications for the creation of ETFs based on Bitcoin. The share of ETH in the total market capitalization is also decreasing, from 15.7% in early August to 14.1% at present. As for the news of the crypto-currency market it is worth noting the continuation of the "migration" of digital companies to Malta, since this country now has the friendliest legislation in relation to digital assets. Following the major exchanges Binance and OKEx, ZB.com, the fifth largest digital exchange in the world, opened its office on the island. The company expects to launch a new platform and exchange crypto currency for fiat money. Support and resistance At present, the price has risen above the level of 281.25 (Murray [1/8]) and can continue corrective growth to 343.75 (Murray [3/8]) and 375.00 (Murray [4/8], the middle line of Bollinger Bands, the upper border of the channel). The Stochastic exits the oversold zone. However, the potential of the downtrend is not yet exhausted, which is confirmed by the reversal of the Bollinger Bands down and the MACD histogram in the negative zone. The key for the "bears" is the 250.00, its breakdown will insure a decrease to 218.75 (Murray [-1/8]) and 187.50 (Murray [-2/8]). Support levels: 250.00, 218.75, 187.50. Resistance levels: 312.50, 343.75, 375.00. Trading tips Long positions can be opened at 313.00 with targets at 343.75, 375.00 and stop loss in the area of 290.00. Short positions should be opened below the level of 250.00 with targets of 218.75, 187.50 and a stop loss at 280.00. Term of realization: 3-5 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted August 17, 2018 Share Posted August 17, 2018 LiteForex analitics. Cryptocurrency Market Review This week, the cryptocurrency market had mixed dynamics. The decline in the beginning of the week was replaced by a corrective growth, as a result of which a significant part of losses was won back. Bitcoin is currently trading around 6500.00, Ethereum – at 300.00, Ripple – at 0.2930, Bitcoin Cash – at 535.00, and Litecoin – at 56.50. The total capitalization of the market this week continued to decline and decreased from 214 to 203 billion dollars. At the same time, the share of altcoins volume in the market is decreasing, and the share of bitcoin has increased from 51% to 53%. It becomes clear that some investors are leaving the market, and some are switching to Bitcoin, hoping for a positive decision by the SEC to register ETF funds in September. As for the news of the market, the European Union intends to introduce new ICO rules, which will be implemented through crowd-funding platforms. This is stated in the documents published by the European Parliament's Committee on Economic and Monetary Affairs. It is planned that the organizers of the new ICO, if they expect to collect more than 8 million euros, should work within the framework of European securities legislation. Thus, new ICO products can be equated with the EU in securities. This position is close to the position of the US SEC, whose members also tend to believe that most of the cryptocurrencies are qualitatively securities. This week it became known that the Jamaican stock exchange intends to offer its clients cryptocurrencies as trading assets by the end of this year, for which the appropriate platform is being developed. And the Securities and Exchange Commission of Thailand officially authorized the work of five crypto-exchanges and two dealers in the country. In addition, the transfer of large digital companies to Malta continues, the legislation of which is currently the friendliest with respect to cryptocurrencies. Following the major exchanges Binance and OKEx, ZB.com, the fifth largest digital exchange in the world, opened its office on the island. The company expects to launch a new platform and exchange cryptocurrency for fiat money. In general, the continuation of the upward correction may continue next week, but the medium-term downtrend is likely to continue. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted August 20, 2018 Share Posted August 20, 2018 LiteForex analitics. Brent Crude Oil: general review Current trend Oil quotes have been growing since the middle of last week on reports of upcoming US-China trade talks on August 21-22. Negotiations can resolve at least some of the contentious issues, although experts warn that there would be no quick results. Quotes are also supported by the probplem of oil transportation from the Perm oil basin. In this regard, the number of active oil rigs in the US for more than two months is within the range of 858-869 units, which is much lower than the peak values of 2014, when it exceeded 1600 units. The current growth is likely to be limited, as long-term pressures on the market remain. Investors are still concerned about the trade war, which could cause a decrease in oil consumption in the two leading world economies. But the possible shortage after anti-Iran sanctions will be covered by Saudi Arabia, which was confirmed by the country's energy minister Khalid Al-Falih. Support and resistance Technically, the price tends to the upper border of the downward channel near the level of 73.43 (Murrey [3/8], the midline of Bollinger Bands). After its breakdown, growth can be continued to 75.00 (Murrey [4/8]) and 76.56 (Murrey [5/8]). The consolidation of the price below 71.87 will lead to the decline to the levels of 70.31 (Murrey [1/8]) and 68.75 (Murrey [0/8]). Technical indicators show growth: Stochastic reversed up, MACD histogram is reducing in the negative zone. However, the growth potential is seen as limited. Support levels: 71.87, 70.31, 68.75. Resistance levels: 73.43, 75.00, 76.56. Trading tips Sell positions may be opened below 71.87 with targets at 70.31, 68.75 and stop loss at 72.20. Buy positions may be opened above 73.43 with targets at 75.00, 76.56 and stop loss at 72.10. Implementation time: 3-5 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted August 21, 2018 Share Posted August 21, 2018 LiteForex analitics. WTI Crude Oil: the instrument is consolidating Current trend Yesterday, oil prices stayed unchanged against the ambiguous USD dynamics. The prices were supported by the Baker Hughes US Oil Rig Count index, which stayed at the level of 869 units due to the transportation problems from the Perm oil basin. Also, the prices are positively influenced by the comments of Saudi Energy Minister Khalid Al-Falih, who noted that the state oil company Saudi Aramco is doing its best to meet the growing global demand for oil. The potential for the current growth in oil prices is restricted. Support and resistance On the daily chart, Bollinger bands are moderately falling. The price does not change, practically not reacting to the attempt of growth of the instrument in the short/ultra-short term. MACD indicator reversed upwards, forming a new buy signal (the histogram is above the signal line). Stochastic is directed upwards and is approximately in the center of its working area. The current indicators’ readings do not contradict the further development of corrective growth in the short and/or ultra-short term. Resistance levels: 65.60, 66.48, 67.00, 67.50. Support levels: 65.00, 64.50, 63.78. Trading tips Long positions can be opened after the breakout of the level of 65.60 with the target at 67.00 and stop loss 65.00. Short positions can be opened after the breakdown of the level of 65.00 with the at targets 63.78–63.50 and stop loss 65.60. Implementation period: 2–3 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted August 22, 2018 Share Posted August 22, 2018 LiteForex analitics. XAU/USD: technical analysis XAU/USD, D1 On the daily chart, the instrument is correcting up from the lower line of the Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is growing, having left the oversold zone. The Composite is approaching its recent resistance region. XAU/USD, H4 On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is turning down, having formed a Bearish divergence with the price. The Composite is showing similar dynamics. Key levels Support levels: 1189.0 (local lows), 1174.0 (local lows), 1160.0 (local lows). Resistance levels: 1217.0 (local highs), 1235.0 (December 2017 lows), 1259.0 (February 2017 highs). Trading tips The price has broken down its long-term ascending trendline. The fall could continue. Short positions can be opened from the level of 1189.0 with targets at 1174.0, 1160.0 and stop-loss at 1198.0. Validity – 3-5 days. Long positions can be opened from the level of 1217.0 with targets at 1235.0, 1259.0 and stop-loss at 1204.0. Validity – 3-5 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted August 23, 2018 Share Posted August 23, 2018 LiteForex analitics. AUD/USD: the Australian dollar is declining Current trend Yesterday, AUD slightly decreased against USD, stepping off the local highs, updated earlier. The traders are focused on Wednesday’s speech of the Deputy Head of the RBA Guy Debelle and on Q2 Construction Work Dore release. The head of the bank noted that the fall of inflation is due to the increase in competition in the retail sector and the slow growth of salaries. Currently, the regulator believes that in the next few years, the consumer price index will reach 2.25% against the backdrop of GDP growth and the average wage in the country. As for Construction Work Dore indicator, it exceeded forecasts and grew by 1.6% after growing by 2.4% in the previous period. Today, AUD is falling sharply due to a possibility of the resignation of Australian Prime Minister Malcolm Turnbull, as several ministers announced their withdrawal. Support and resistance On the daily chart, Bollinger bands are moving flat. The price range narrows from above, reflecting the emergence of mixed trading dynamics. MACD indicator has reversed downwards, keeping the buy signal (the histogram is above the signal line). Stochastic reversed downwards from its highs, signaling that AUD is overbought. It is possible to further develop the downtrend in the short and/or ultra-short term. Resistance levels: 0.7322, 0.7346, 0.7362, 0.7380. Support levels: 0.7290, 0.7260, 0.7222, 0.7200. Trading tips Long positions can be opened after a rebound from the level of 0.7290 with the targets at 0.7346–0.7362 or 0.7380 and stop loss 0.7260–0.7250. Short positions can be opened after the breakdown of the level of 0.7290 with the targets at 0.7222–0.7200. Stop loss is 0.7322. Implementation period: 2–3 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted August 27, 2018 Share Posted August 27, 2018 LiteForex analitics. EUR/USD: general review Current trend On Friday, the pair grew in view of an inconclusive end to China-US trade negotiations and Jerome Powell's ambiguous statements. The White House only said that the parties exchanged views on how to achieve a balance in economic relations. Chinese representatives called the talks constructive. According to Bloomberg, the next meeting can take place no earlier than November. Speech of Fed Chairman Jerome Powell in Jackson Hole has caused mixed reactions from investors. The head of the regulator confirmed that the pace of the US economic growth will remain the same, so the policy of raising interest rates will continue. However, according to Powell, there are no clear signs of inflation growth accelerating above 2.0%. In this regard, investors have doubts that the regulator will go to four rate increases this year. In addition, the tightening of monetary policy is criticized by President Donald Trump and some FOMC members agree with his position. The head of the Federal Reserve Bank of Saint Louis, James Bullard, in an interview with CNBC, stated the expediency of stopping the rate hike since inflationary pressures do not increase. Support and resistance Now, the price has risen above the level of 1.1596 (Murrey [7/8]) and can continue rising to 1.1718 (Murrey [8/8], the upper line of Bollinger Bands). However, Stochastic's reverse in the overbought zone indicates the probability of a downward correction to the levels of 1.1474 (Murrey [6/8]) and 1.1352 (Murrey [5/8]). Support levels: 1.1596, 1.1474, 1.1352. Resistance levels: 1.1718, 1.1840. Trading tips Sell positions may be opened if the price consolidates below 1.1596 with targets at 1.1474, 1.1352 and stop loss at 1.1630. Buy positions may be opened from 1.1640 with targets at 1.1718, 1.1840 and stop loss at 1.1600. Implementation time: 3-5 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted August 28, 2018 Share Posted August 28, 2018 LiteForex analitics. Brent Crude Oil: general review Current trend Quotes are growing and the price of Brent Crude oil rose above 76.56. Oil is supported by the reduction in the US rigs from 869 to 860 units (according to Baker Hughes), the expectation of a further reduction in oil reserves by API and EIA, and a new US-Mexico trade agreement. On Monday, it became known that the NAFTA would be replaced by a new agreement. US and Mexico were the first to formalize it but Canada is expected to join it soon and, thus, NAFTA will be restored on new terms. It is known that Mexico will expand purchases of food in the US, and will also increase the share of cars produced by workers with wages of at least USD 16 an hour to 45% (to equalize the value of production with US enterprises). In the evening, the market is waiting for the weekly API report on the US crude oil reserves. If the trend to decline continues (the last time it was 5.17 million barrels), prices may start to grow. Support and resistance The quotes are above 76.56 (Murrey [5/8]) and can go up, to 78.12. If the price consolidates below 76.56, correction to 75.00 (Murrey [4/8]) and 73.43 (Murrey [3/8], the midline of Bollinger Bands) is possible. Technical indicators show continued growth: Bollinger Bands diverge, confirming the uptrend, MACD histogram has moved to the positive zone and formed a buy signal, Stochastic is in the overbought zone moving horizontally. Support levels: 76.56, 75.00, 73.43. Resistance levels: 78.12, 79.68. Trading tips Buy positions may be opened from 77.00 with the target at 78.12 and stop loss at 76.60. Sell positions may be opened below 76.56 with targets at 75.00, 73.43 and stop loss at 76.90. Implementation time: 3-5 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted August 30, 2018 Share Posted August 30, 2018 LiteForex analitics. Brent Crude Oil: general review Current trend Oil prices are rising and reached a maximum since July at 77.82, supported by yesterday's US statistics. EIA Crude Oil Stocks change reflected the decrease of “black gold” resources by 2.566 million barrels, and gasoline reserves by 1.55 million barrels. The production level stayed at the level of 10.9 million barrels per day. In response, investors are actively purchasing oil futures. On Friday, market participants will pay attention to Baker Hughes US Oil Rig Count release. Last week, the number fell to 860 from 869 units. If tomorrow's report reflects the further decrease in the indicator, the instrument will receive substantial support. Support and resistance On the 4-hour chart, technical indicators reflect the maintenance of growth potential. There is no sign of correction. Bollinger bands are directed upwards. MACD is stable in the positive zone, keeping the buy signal. Stochastic is in the overbought zone and is pointing down, but it does not give a clear reversal signal. At the level of 78.12 (Murrey [+2/8]), there is a strong support level, from which a reversal and formation of a downward correction are possible. The breakout of the level will let the price grow to the area of 79.00–80.00. Resistance levels: 78.12, 79.00, 80.00. Support levels: 76.56, 75.00, 73.43. Trading Tips Long positions can be opened above the level of 78.12 with the targets around 79.00 and stop loss at the level of 77.80. Short positions can be opened below the level of 77.40 with the targets around 76.56 and stop loss at the level of 77.70. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted August 31, 2018 Share Posted August 31, 2018 LiteForex analitics. USD/CAD: general review Current trend Quotes of the instrument grow amid yesterday's weak data on Canada's GDP. GDP growth MoM stopped and amounted to 0.0% in July against 0.5% a month earlier. YoY the indicator in Q2 was higher than the previous values and amounted to 2.9%, but an increase of 3.0% was expected. Investors reacted to this by active sales of the Canadian currency, so the rate jumped to the level of 1.3022. CAD is also pressured by the uncertainty of the country's position regarding the trilateral trade deal with the US and Mexico. Canada's accession to the deal looks most likely, but there's no official position of the government on this issue so far. The final decision is expected on Friday. If Canada agrees to a deal, CAD will receive support, and we will see a decline in the instrument. The refusal will push the quotes even higher. Support and resistance Technical indicators on H4 chart generally indicate the preservation of growth potential. Bollinger Bands diverge, indicating an active continuation of the current trend. MACD histogram is actively declining in the negative zone, forming a buy signal. Stochastic's lines are directed upwards. Support levels: 1.3000, 1.2970, 1.2939, 1.2908. Resistance levels: 1.3031, 1.3061, 1.3092, 1.3122. Trading tips Buy positions may be opened above the level of 1.3031 with targets at the area of 1.3061-1.3092 and stop loss at 1.3010. Sell positions may be opened below 1.3000 with targets at 1.2970-1.2939 area and the stop loss at 1.3020. Implementation time: 1 day. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted September 3, 2018 Share Posted September 3, 2018 LiteForex analitics.EUR/USD: the Euro remains under pressure Current trend EUR showed a significant decline against USD noting a new local low since August 24. EUR is under pressure of US President Trump’s commentaries and poor inflation statistics. In an interview with Bloomberg Trump said that the EU's proposals on duties on cars are not good enough for the US. Probably, the EU will need new concessions; otherwise, it is possible that the 25% duties on EU-imported cars will be introduced in the US. Friday’s preliminary August inflation data were poor. The consumer price index fell from 2.1% to 2.0% and the core consumer price index fell from 1.1% to 1.0%. Today, EU Markit Manufacturing PMI will be released. The indicator is expected to remain unchanged at the level of 54.6 points in August. Support and resistance Bollinger Bands in D1 chart show moderate growth. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD is going down having formed new sell signal (located below the signal line). Stochastic is steadily declining, approaching its minimum levels, which indicates the risks associated with oversold euro. Technical indicators do not contradict the further development of the "bearish" trend. Resistance levels: 1.1621, 1.1653, 1.1718, 1.1749. Support levels: 1.1573, 1.1526, 1.1500, 1.1473. Trading tips To open long positions, one can rely on the rebound from the support level of 1.1573 with the subsequent breakout of 1.1621. Take profit — 1.1718, 1.1749 or 1.1789. Stop loss — 1.1560 or 1.1750. Implementation period: 2-3 days. A breakdown of 1.1573 may be a signal to further sales with target at 1.1500 or 1.1473. Stop loss — 1.1620. Implementation period: 1-2 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted September 4, 2018 Share Posted September 4, 2018 LiteForex analitics. XAG/USD: the price is under pressure Current trend Yesterday, silver prices declined slightly, renewing a local minimum since August 16. On Monday, the US markets were closed due to the national holiday, so investors fully concentrated on the European and Asian releases. Monday’s August EU Manufacturing PMI release remained at the same level of 54.6 points. The corresponding German index fell from 56.1 to 55.9 points. The Japanese indicator remained at the same level of 52.5 points, but the Chinese PMI Caixin in August fell from 50.8 to 50.6 points. Support and resistance On the daily chart, Bollinger bands unfold horizontally. The price range is expanding but still remains uncomfortable for the development of downward trend dynamics. MACD indicator decreases, keeping a weak sell signal (the histogram is below the signal line). Stochastic, approaching its lows, reversed horizontally, reflecting the risks of the corrective silver growth in the short and/or ultra-short term. It is better to wait until the signals are clear and keep current short positions in the short term for some time. Resistance levels: 14.48, 14.60, 14.79, 14.89, 15.00. Support levels: 14.40, 14.24, 14.17. Trading tips Long positions can be opened after the rebound from the level of 14.40 and breakout of the levels of 14.48–14.50 with the targets at 14.70–14.79 and stop loss 14.35. Short positions can be opened after the breakdown of the level of 14.40 with the targets at 14.24 or 14.17–14.10 and stop loss 14.45–14.55. Implementation period: 2–3 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted September 5, 2018 Share Posted September 5, 2018 LiteForex analitics. NZD/USD: New Zealand dollar is under pressure Current trend Yesterday, NZD fell significantly against USD, renewing the minimum since February 2016. Investors are focused on American foreign trade. Negotiations are going between the United States and Canada on the accession of the latter to the new terms of the NAFTA (agreed earlier by the US and Mexico). However, there's no compromise yet. The market also expects that in the near future, President Trump can introduce increased duties on Chinese goods with a total value of another USD 200 billion. This, surely, will not remain without the answer of the PRC, and in the end, both leading world economies will suffer. On Tuesday, USD was also supported by US releases. August Manufacturing PMI increased from 54.5 to 54.7 points. The corresponding ISM index accelerated even more: from 58.1 to 61.3 points. Support and resistance On the daily chart, Bollinger bands move horizontally. The price range is expanding, but not as fast as the "bearish" trend develops. MACD indicator decreases, keeping a strong sell signal (the histogram is below the signal line). Stochastic reached its lows and reversed horizontally. The indicator reflects than NZD is oversold in the short term. The development of corrective growth is possible. Resistance levels: 0.6560, 0.6592, 0.6618, 0.6650. Support levels: 0.6543, 0.6529, 0.6500. Trading tips Long positions can be opened after the breakout of the levels 0.6560–0.6570 with the targets at 0.6630–0.6650 and stop loss 0.6530–0.6520. Short positions can be opened after the breakdown of the level 0.6529 with the targets at 0.6500 or 0.6480–0.6470 and stop loss 0.6560. Implementation period: 2–3 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted September 6, 2018 Share Posted September 6, 2018 LiteForex analitics. EUR/USD: the euro is strengthening Current trend EUR showed moderate growth against USD on Wednesday, departing from local lows, updated the day before. However, the instrument traded mainly with a decrease in the morning. Euro was under pressure by poor economic statistics. In July, EU Retail Sales declined by 0.2% MoM, and grew only by 1.1% YoY (1.3% growth was expected). August EU Services PMI remained at the same level of 54.4 points, and in Germany it fell from 55.2 to 55.0 points over the same period. Investors are focused on the US-Canada negotiations on NAFTA and are waiting for the introduction of new US duties on Chinese goods worth USD 200B. Today, the pair is trading in both directions, waiting for the appearance of new drivers at the market. The focus will be on the ADP Employment Change report, as well as a block of statistics on Markit Services PMI. Support and resistance Bollinger Bands in D1 chart show moderate growth. The price range is narrowing, reflecting ambiguous dynamics of trading in the short term. MACD is reversing upwards preserving a sell signal (located below the signal line). Stochastic is growing, having showed a rebound from the level "20", which can be called a formal margin of oversoldness of EUR. One should keep existing long positions in the short and ultra-short term. Resistance levels: 1.1657, 1.1718, 1.1749. Support levels: 1.1621, 1.1573, 1.1526, 1.1500. Trading tips To open long positions one can rely on the breakout of 1.1657 while maintaining "bullish" signals from technical indicators. Take profit — 1.1749 or 1.1780. Stop loss — 1.1610 or 1.1600. The rebound from 1.1657 as from resistance with the subsequent breakdown of 1.1621 can become a signal to further sales with target at 1.1526 or 1.1500. Stop loss — 1.1670 or 1.1680. Implementation period: 2-3 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted September 7, 2018 Share Posted September 7, 2018 LiteForex analitics. GBP/USD: the pound is corrected Current trend Yesterday, GBP showed a slight increase against USD, continuing the development of the corrective impulse generated on Wednesday. GBP is supported by data on possible progress in the Brexit negotiations. Currently, in addition to talks with EU representative Michel Barnier, British officials are discussing separate agreements with several EU countries. On Wednesday, Bloomberg reported that the UK and Germany agreed on a less detailed agreement on future trade relations between the EU and the UK. Later, both parties denied reports, saying that the positions remained the same and there is no progress in the negotiations. The German representative also noted that he fully trusts the EU chief negotiator Michel Barnier. Nevertheless, British investors remained positive. Today, the focus of investor attention will be shifted to data from the US, where besides the publication of the August labor market report, there will also be speeches by Fed representatives Loretta Mester and Robert Kaplan, while statistics from the UK will be practically absent. Support and resistance On the D1 chart Bollinger Bands are reversing horizontally. The price range is trying to consolidate, reflecting the flat nature of trading in the short term. MACD is growing keeping a weak buy signal (located above the signal line). Stochastic is growing more actively, quickly approaching its maximum levels. The current showings of the indicators do not contradict the further development of the "bullish" trend. Resistance levels: 1.2960, 1.3000, 1.3048, 1.3100. Support levels: 1.2879, 1.2850, 1.2800, 1.2732. Trading tips To open long positions, one can rely on the breakout of 1.2960. Take profit — 1.3048 or 1.3100. Stop loss — 1.2910 or 1.2900. A breakdown of 1.2879 may become a signal for returning to sales with target at 1.2800 or 1.2750, 1.2732. Stop loss — 1.2930 or 1.2940. Implementation period: 2-3 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted September 10, 2018 Share Posted September 10, 2018 LiteForex analitics. USD/CAD: general analysis Current trend On Friday, USD strengthened against CAD due to the growth of Nonfarm Payrolls data by 201 thousand, which was higher than the forecast of 191 thousand. The published report dispelled almost all doubts about the rate increase this month. August US average hourly earnings increased by 0.4% MoM and by 2.9% YoY, supporting USD. Cad is under pressure of August’s growth of unemployment to 6.0% against the forecast of 5.9% and the decrease of employment by 51.6K against the forecast of an increase by 5.0K. Support and resistance On the 4-hour chart, the instrument was corrected to the midline of Bollinger bands, the price range narrowed. MACD histogram is in the positive area, preserving the signal to open long positions. Resistance levels: 1.3207, 1.3225, 1.3286, 1.3382. Support levels: 1.3158, 1.3127, 1.3102, 1.3043, 1.3006, 1.2935, 1.2886. Trading tips Long positions can be opened from the current level with the target at 1.3225 and stop loss 1.3130. Short positions can be opened from the level of 1.3120 with the target at 1.3050 and stop loss 1.3158. Implementation period: 1–3 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted September 11, 2018 Share Posted September 11, 2018 LiteForex analitics. EUR/USD: Euro is corrected Current trend EUR showed moderate growth against USD on Monday, departing from the updated local lows of August 21. The investors are focused on trade negotiations between the US and EU representatives in Brussels. This is the first meeting of the parties since the chairman of the European Commission Jean-Claude Juncker and the US president Donald Trump agreed to delay the introduction of higher tariffs for cars produced in the EU in July. At the current negotiations, it is planned to discuss the export of American beef and the possible increase in European taxes towards large American Internet companies. In general, the market is waiting for ECB meeting. The interest rates are unlikely to be changed, but new comments on the monetary policy of the regulator can appear. Support and resistance Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is slightly narrowing from below, reflecting the flat nature of trading in the short term. MACD is trying to reverse upwards keeping a sell signal (located below the signal line). Stochastic keeps a downward direction and reacts to the resumption of growth of the instrument at the beginning of the current trading week weakly yet. It is worth looking into the possibility of corrective growth of EUR in the short and/or ultra-short term. Resistance levels: 1.1621, 1.1657, 1.1718, 1.1749. Support levels: 1.1573, 1.1522, 1.1500, 1.1473. Trading tips To open long positions one can rely on the breakout of 1.1621, while maintaining "bullish" signals from technical indicators. Take profit – 1.1718 or 1.1749. Stop loss — 1.1570 or 1.1560. The return of "bearish" trend to the market with a breakdown of 1.1540 or 1.1530 may become a signal for the resumption of sales. Take profit — 1.1473 or 1.1446. Stop loss — 1.1580 or 1.1590. Implementation period: 2-3 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted September 17, 2018 Share Posted September 17, 2018 LiteForex analitics. XAG/USD: technical analysis XAG/USD, D1 On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI keeps testing the border of the oversold zone, having formed a Bullish divergence with the price. The Composite is testing from below its longer MA. XAG/USD, H4 On the 4-hour chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is breaking down its longer MA. The Composite is turning up, having failed its quite strong support region. Key levels Support levels: 13.90 (local lows), 13.72 (January 2016 lows), 13.63 (December 2015 lows). Resistance levels: 14.28 (July 2017 lows), 14.45 (local highs), 14.85 (local highs). Trading tips There is a chance of an upward correction. Long positions can be opened from the level of 14.45 with the target at 14.85 and stop-loss at 14.28. Validity – 3-5 days. Short positions can be opened from the level of 13.90 with targets at 13.72, 13.63 and stop-loss at 14.02. Validity – 3-5 days. Quote Link to comment Share on other sites More sharing options...
MikhailLF Posted September 18, 2018 Share Posted September 18, 2018 LiteForex analitics. Brent Crude Oil: general review Current trend This week, Brent Crude oil shows ambiguous dynamics. The pressure was exerted by the decision of US President Donald Trump on the introduction of 10% of duties on Chinese goods totaling USD 200 billion from September 24 (from January 1, tariffs may increase to 25%). The expansion of production in the US also influence quotes negatively: according to the Baker Hughes, the number of active oil rigs increased from 860 to 867 units. According to the EIA report, in October, production at seven largest shale deposits in the United States will reach 7.6 million barrels per day. Today, the instrument rose sharply to 78.80 after the Bloomberg publication, which states that Saudi Arabia considers prices above USD 80 per barrel to be "quite acceptable". This means that in the short term the country will not try to compensate the supply shortage. Today, investors are waiting for the weekly API report on the US crude oil reserves. If the trend to reduction continues (the last time the volume of oil reserves fell by 8.636 million barrels), then quotes can get additional support. Support and resistance Now the price has risen above 78.12 (Murrey [6/8]) and can go up to the area of 79.68 (Murrey [7/8]) and 80.00. Reverse consolidation of the instrument below 78.12 may lead to a correction to 76.56 (Murrey [5/8]) and 75.00 (Murrey [4/8]). Technical indicators show decline: Stochastic has reversed downwards, and MACD histogram is reducing in the positive zone. Support levels: 78.12, 76.56, 75.00. Resistance levels: 79.68, 80.00, 81.25. Trading tips Sell positions may be opened below 78.12 with the target at 76.56 and stop loss at 78.60. Buy positions may be opened from 78.90 with targets at 79.68, 80.00 and stop loss at 78.40. Implementation time: 3-5 days. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.