LiteForex Market Analytics

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Re: LiteForex Market Analytics

Postby LiteForexTeam » Wed Aug 30, 2017 6:01 am

LiteForex USD/CAD: the pair is trading in the flat


Current trend

Investors failed to determine the direction of trading in the pair USD/CAD on Tuesday, August 29, and the instrument closed around zero and showed active, but mixed dynamics of trading during the day.

Canadian dollar showed weak reaction to the Tuesday release of Canadian macroeconomic statistics. Thus, the index of prices for raw materials dropped by 0.6% MoM after a fall by 3.6% last month. Manufacturing prices index dropped by 1.5% in July on a monthly bas after a fall by 1.1% in June. The real dynamics of the indicator was much worse than expected.

On Wednesday, August 30, investors will focus their attention on macroeconomic statistics from the USA. Thus, the publication of detailed assessment of the US GDP in Q2 2017 is expected at 15:30 (GMT+2).

Support and resistance

Bollinger Bands in D1 chart demonstrate a gradual decrease. The price range is slightly narrowing in the lower part. MACD histogram is slightly growing keeping a weak buy signal (and remaining above the signal line).
Stochastic is showing slightly more stable dynamics and is located in the middle of its area.

Resistance levels: 1.2548, 1.2597, 1.2617, 1.2654, 1.2689.
Support levels: 1.2500, 1.2464, 1.2439, 1.2412.

Trading tips

Long positions may be opened from the level of 1.2500 with targets at 1.2548 or 1.2597 and stop-loss at 1.2464. The period of implementation is 2-3 days.
Breaking down the level of 1.2500 may be a signal to corrective sales with target around 1.2439 and stop-loss at 1.2548. The period of implementation is 2 days.

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Re: LiteForex Market Analytics

Postby LiteForexTeam » Thu Aug 31, 2017 6:22 am

LiteForex EUR/USD: the correction can end

Current trend

On Wednesday the pair was correcting and now has reached the level of 1.1865.
The US currency growth is due to relative reduction of tense on the Korean peninsula and to positive economic data publication. The new North Korea missile launch didn’t lead to military USA response, moreover, Secretary of Defense James Mattis noted that the diplomatic possibilities of the conflict resolution are not exhausted, which resulted in outflow of investors from shelter assets. In addition, the USD was supported by preliminary USA GDP data (in the second quarter its growth exceeded the expectations and reached the level of 0.3%) and August ADP Non-Farm Employment Change data (instead of expected fall the indicator grew from 201K to 237K).

At the moment the falling of the pair slowed, and it’s trading around 1.1890–1.1870. Investors are waiting for the EU Consumer Price Index publication, which is very important before the ECB meeting next week. The index is expected to grow from 1.3% to 1.4%, which can lead to the reversal of the price and the beginning of the new growth of EUR.

Support and resistance

Technically the pair is tending to the middle line of Bollinger Bands at the level of 1.1800, and after breakdown can go lower, to the area of 1.1720 (Murray ) and 1.1600 (Murray , Fibonacci correction 23.6%). The downward movement will develop in case of negative reaction of the market to the EU inflation data. The indicators confirm the possibility: Stochastic has reversed downwards, MACD histogram is decreasing in the positive zone.

The upward trend will develop after the price is set above the level of 1.1960 (Murray ). In this case it can grow to the area of 1.2085 (Murray ) and 1.2200 (Murray ).

Support levels: 1.1840, 1.1800, 1.1720, 1.1600.
Resistance levels: 1.1960, 1.2085, 1.2200.

Trading tips

Short positions can be opened below the level of 1.1840 with the targets at 1.1800, 1.1720, 1.1600 and stop loss at 1.1880.
Long positions can be opened above the level of 1.1960 or after the reversal near the level of 1.1800 with the targets at 1.2085, 1.2200 and stop loss 1.1920 and 1.1770.

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Re: LiteForex Market Analytics

Postby LiteForexTeam » Fri Sep 01, 2017 4:49 am

LiteForex NZD/USD: New Zealand dollar under pressure

Current trend

NZD reduced considerably against the US currency during trading on Thursday, August 31, marking a new local minimum since June 6. However, with the release of uncertain macroeconomic statistics from the USA the investor's sentiment has changed, and the instrument managed to regain the majority of lost positions by the closing of the daily session.

The reason for negative NZD dynamics was weak statistics from New Zealand. Namely, business optimism index by RBNZ dropped from 19.4 to 18.3 points in August. During the morning session on September 1 the pair received moderate support from Chinese data. Manufacturing PMI Caixin grew from 51.1 to 51.6 points in August against the forecast of reduction to 50.9 points. Other activities remain low as the market is waiting for the US labor market report for August.

Support and resistance

Bollinger Bands in D1 chart demonstrate decrease. The price range is moderately widening. MACD still preserves a stable downward trend. Stochastic is reducing but is located close to the border with the oversold area.
Resistance levels: 0.7190, 0.7222, 0.7257, 0.7297, 0.7335.
Support levels: 0.7160, 0.7130, 0.7101.

Trading tips

A reversal near the level of 0.7190 with further breakdown of 0.7160 may indicate the continuation of sales. In this case the target of the "bears" may be located around 0.7100. The period of implementation is 2 days.

Long positions may be opened from the level of 0.7190 with targets at 0.7257 or 0.7297 and stop-loss at 0.7130. The period of implementation is 2-3 days.

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Re: LiteForex Market Analytics

Postby LiteForexTeam » Mon Sep 04, 2017 5:48 am

LiteForex AUD/USD: the pair is showing minor growth

Current trend

AUD is growing during the morning session on September 4 after the update of a local maximum dated back to August 30 in the end of the previous week. The instrument is supported by the weakness of the US currency that is experiencing pressure again due to the tightening of the geopolitical situation around North Korea.
Macroeconomic statistics released in Australia on Monday has mixed influence on the pair. TD Securities inflation data in August showed growth by 0.1% MoM and 2.6% YoY which practically meets the data for the previous period. The indicator of income from main activities of companies in Q2 2017 dropped by 4.5% in quarterly terms after earlier growth by 6.0%. Investors expected it to dectease by 4.0% on the quarterly basis.

Trading activity on Monday will be reduced as the US markets will be closed on Monday due to the Labor Day. Investors will focus on the release of RBA minutes on Tuesday, September 5, at 06:30 (GMT+2).

Support and resistance

Bollinger Bands in D1 chart demonstrate slight growth. The price range remains quite unchanged and quite limited. MACD histogram is slightly growing keeping a weak buy signal (and remaining above the signal line). Stochastic is growing, approaching the border of the overbought zone once again.
Resistance levels: 0.7978, 0.7994, 0.8012, 0.8041.
Support levels: 0.7949, 0.7917, 0.7889, 0.7865.

Trading tips

Long positions may be opened after the outbreak of the levels 0.7978 or 0.7994 with targets at 0.8040, 0.8060 and top-loss at 0.7950. The period of implementation is 2-3 days.

Alternatively, short positions may be opened after breaking down the level of 0.7949 with target at 0.7889 and stop-loss at 0.7978. The period of implementation is 2-3 days.

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Re: LiteForex Market Analytics

Postby LiteForexTeam » Tue Sep 05, 2017 9:12 am

LiteForex EUR/USD: the market is waiting for comments from FOMC members

Current trend

The pair started the week with growth to 1.1920 after North Korea carried out nuclear missiles testing, and the USA replied with tough rhetoric. However, by now the price has corrected to 1.1880 (middle line of Bollinger Bands at H4).

Today the most important part of the releases is traditional financial statistics. Services PMIs of Germany and Eurozone for August failed to show material changes or cause considerable market reaction. The indicator for Germany grew from 53.4 to 53.5 points, and for Eurozone reduced from 54.9 to 54.7 points. The statistics on the volume of retail sales in Eurozone was mixed.

In the USA attention should be paid to statements by the Fed's members Lael Brainard and Neel Kashkari that are especially important in view of the upcoming September meeting of the Fed.

Support and resistance

Technically, the pair is trading within the upper Bollinger Band between 1.1840 (Murrey level ) and 1.1962 (Murrey level ) and may continue moving in it as the investors are not likely to take risks before the ECB meeting scheduled for Thursday. In case of breakdown of the level of 1.1840 and the middle line of Bollinger Bands the fall may continue to 1.1720 (Murrey level ) and 1.1660 (lower line of Bollinger Bands). Otherwise the price may go up to the upper border of the range at 1.1962and in case of its breakout go further to 1.2085 (Murrey level ). Indicator show decrease: Stochastic is directed downwards, and MACD histogram is reducing in the positive zone.

Support levels: 1.1840, 1.1800, 1.1720, 1.1660.
Resistance levels: 1.1962, 1.2085, 1.2200.

Trading tips

In the current situation short positions should be opened below the level of 1.1840 and the middle line of Bollinger Bands with targets at 1.1720, 1.1660 and stop-loss at 1.1880.
Long positions should be opened above 1.1900 or in case of reversal at 1.1840 with targets at 1.1962, 1.2085 and stop-loss at 1.1870 and 1.1800.

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Re: LiteForex Market Analytics

Postby LiteForexTeam » Wed Sep 06, 2017 10:30 am

LiteForex NZD/USD: general review

Current trend

New Zealand dollar grew against USD during trading on Tuesday supported by the growth of prices for dairy products by 0.3% (the highest in the last three months) and reduced returns on US state bonds. US markets opened after a holiday, and a number of important macroeconomic releases is planned for the current week. Investors are concerned that the concequences of Harvey storm may lead to the fall of economic indicators in the short term whic may influence the Fed's decision on the possible increase of interest rates this year. Potential nuclear crisis in North Korea also has a negative impact on the rate of the US currency.
Today traders have to pay special attention  to the release of data on Markit PMI changes and services PMI by ISM.

Support and resistance

Support levels: 0.7200, 0.7185, 0.7160, 0.7130.
Resistance levels: 0.7250, 0.7280, 0.7300, 0.7330.

Trading tips


Long positions may be opened from the level of 0.7260 with target at 0.7330 and stop-loss at 0.7220.
Short positions may be opened from the level of 0.7200 with targets at 0.7150 and stop-loss at 0.7230.
The period of implementation is 1-3 days.

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Re: LiteForex Market Analytics

Postby LiteForexTeam » Thu Sep 07, 2017 10:55 am

LiteForex USD/JPY: Murrey analysis

On the D1 chart the price is around the level of 109.37 (main support) — 108.59 (extreme support). The zone seems quite strong as the pair has been testing it in vain since April. Currently the price is approaching the cyclical line near which it may reverse upwards. In this case the growth of the price may continue through a number of levels (110.15 and 110.93 ) to the lower border of horizontal channel 111.71 (bottom of the channel). The continuation of the fall is possible if the price consolidates below 108.59 . In this case the pair may decrease to 107.81 (final resistance) and 106.25 (for W1 chart). Technical indicators show the possibility of the fall but in limited scope. Stochastic is directed downwards but has approached the oversold area. MACD histogram shows indicators of bearish divergence, the occurrence of which will open the way to purchases.  

Support and resistance

Support levels: 108.59 (extreme support), 107.81 (final support), 106.25 (rotation and reversal in W1).
Resistance levels: 109.37 (main support), 110.15 (stop, reversal), 110.93 (rotation, reversal), 111.71 (bottom of the channel).

Trading tips

In the current situation buy positions may be opened at the level above109.37 or in case of a turn around 108.59 with targets at 110.15, 110.98, 111.71 and stop-losses at 109.00 and 108.30. Short positions can be opened if the price consolidates below 108.59 with targets at 107.81, 106.25 and stop-loss at 109.00.

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