NewForex — Forex news (daily)

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NewForex — Forex news (daily)

Postby Anna Mon » Fri May 27, 2016 9:38 am

Forex News from New Forex: Technical analysis of EUR/USD

On Friday all market participants are in the anticipation of the speech of Janet Yellen, Fed’s Chair. Consequently, the market does not show any swift movements and the situation is likely to remain unchanged till 17:15 GMT. What’t more, the G7 meeting is held in Japan at the moment, its participants are expected to make a speech by the end of it.

Thus, in spite of forming a firm bullish candlestick on the close of yesterday’s trading session, it’s early to speak about the further upsurge or decline. Today fundamental market factors decide everything.

At the moment trades are seen within the support at 1.1172 and resistance at 1.1240. In a day chart the MACD-histogram remains in the negative zone and declines. Exponential moving averages with the period 20 and 55 days slowed down and are close to being crossed. The RSI indicator demonstrates further easing of the bullish market sentiment sliding slightly below the central magnitude. The oscillator Stochastic is near to leaving the zone of oversold and sends signals to buy which might be fallacious if we take the above mentioned technical features into consideration.

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NewForex Analyst

David Fineberg

Forex News from New Forex: Technical analysis of GBP/USD

On Friday trades show a slight sagging in comparison with the previous trading session within the support at 1.4640 and resistance at 1.4715. A classical pattern"Short Sqeeze" indicates the start of price correction in the short run.

The sterling settled above the immediate strong support at 1.4640, but a clear-cut market movement has not been formed yet. All market participants expect the results of G7 meeting in Japan and the speech of the Fed’s Chair Jannet Yellen.

EMA20 and EMA55 rise, the MACD-histogram stays above its central line but is close to reverse. The Stochastic confirms market uncertainty.

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NewForex Analyst

David Fineberg

Forex News from New Forex: Gold keeps sliding

On Friday, May 27, gold prices reached a 3-month low, strong positions of the US dollar bring firm pressure on the precious metal. Another factor influencing on the sentiment around gold is the expectation of Jannet Yellen’s speech tonight.

Most market players hope to hear some subtle hints about the terms of the interest rate hike during the speech of the Fed’s Chair. Gold is particularly sensitive to changes of the interest rate. A powerful dollar decreases attractiveness of gold as an alternative asset and makes dollar-priced goods more expensive for other currency holders.

Today on the New York Mercantile Exchange gold futures with the delivery next month are seen at $1,221.05. The immediate level of support is at $1,211.00 (a 3-month low), the level of resistance stands at $1,232.60 (a high of May 26). At the moment spot gold shed 0.03% to $1.219.35. The yellow metal was showing negative dynamics this week and lost 2.4%, the largest slump in two months.

Currently silver futures with the delivery in July slid 0.39% to $16.280 a troy ounce.

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NewForex Analyst

David Fineberg
Anna Mon
 
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Joined: Thu May 26, 2016 7:13 am

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