LiteForex Market Analytics

[LiteForexTeam]

EUR/USD: general analysis

Current trend
Yesterday the pair slightly grew against a backdrop of positive data on French and Italian manufacturing production volumes. Then unfavourable macroeconomic data was released in the US: the small business optimism index dropped to 97.9 points, and new non-farm payrolls reduced to 5.03 million.
Today, market participants are waiting for the results of the Eurogroup meeting that will be held at 19:30 (GMT+2). The meeting will cover the questions related to the Greek situation and possible solutions to the Greek current economic crisis. Market participants do not hurry to open big volume positions ahead of the Eurogroup meeting.

Support and resistance
Yesterday the pair slightly grew against a backdrop of positive data on French and Italian manufacturing production volumes. Then unfavourable macroeconomic data was released in the US: the small business optimism index dropped to 97.9 points, and new non-farm payrolls reduced to 5.03 million.
Today, market participants are waiting for the results of the Eurogroup meeting that will be held at 19:30 (GMT+2). The meeting will cover the questions related to the Greek situation and possible solutions to the Greek current economic crisis. Market participants do not hurry to open big volume positions ahead of the Eurogroup meeting.

Trading tips
Selling positions should be opened with the nearest target at about 1.2220 after a powerful resistance level at 1.1270 has been broken. Consolidating above a level of 1.1340 will signal a beginning of an ascending movement. In this case, bulls will attempt to assault a level of 1.1360.



Vadim Smarzh
Analyst of LiteForex Investments Limited

[LiteForexTeam]

Brent: general overview

Current trend

Brent crude oil dropped to a level of 53.82 yesterday owing to the news from the Middle East. Oil exporting countries are still competing for the market. Two OPEC members Iran and Iraq announced the highest discounts on hydrocarbons at the same time. The discount Baghdad intends to make on its Basrah Light crude is $4.1 higher than the one its Middle Eastern competitors are offering. National Iranian Oil reduced the price of 1bbl by $2.1.

The increased world oil stocks and oil producing countries' output remain a strong factor that puts pressure on oil quotes. According to the US Department of Energy, oil stocks increased by 4,87 million barrels last week. The analysts polled by Bloomberg had expected an increase of only 3.75 million barrels. The output volume increased and amounted to a daily record of 9.23 bbl last registered in 1983. The US took the lead in oil producing and outperformed Russia according to the results of the year 2014.

Nevertheless, Brent quotes managed to undergo correction and rise above an important psychological level of 55 dollars. The price is currently located near a level of 57.00.

Support and resistance

Support levels: 57.37 (maximum of the Asian session), 60.00 (important psychological level), 62.00 (important psychological level), 63.49 (maximum of 18th December 2014).

Resistance levels: 55.97 (minimum of the Asian session), 53.82 (yesterday's minimum, 50% Fibonacci retracement), 52.30 (61,8% Fibonacci retracement, middle line of Bollinger bands), 50.00 (important psychological level).

Trading tips

If the current trend continues, short positions may be opened from a level of 57.40 with the nearest target at about 59.00. If the level 55.90 is firmly broken, Brent will head for the levels 54.00 and 52.30, from which an ascending movement can resume as part of technical correction.



Vadim Smarzh
Analyst of LiteForex Investments Limited

[LiteForexTeam]

Forex: Ichimoku Clouds. Review of NZD/USD

NZD/USD, H4
Let’s look at the four-hour chart. Tenkan-sen and Kijun-sen lines have merged above the cloud and remain horizontal, reflecting the uncertainty of the market. Chinkou Span line is above the price chart; current cloud is ascending. The closest support level is merged Tenkan-sen and Kijun-sen lines (0.7399). One of the previous maximums of Chinkou Span line is expected to be a resistance level at 0.7487.



NZD/USD, D1
On the daily chart Tenkan-sen line is below Kijun-sen, both lines are horizontal. Chinkou Span line is below the price chart; current cloud is descending. The pair has been corrected above Tenkan-sen line (0.7330), which is a support level now. The closest resistance level is Kijun-sen line (0.7532).



Key levels
Support levels: 0.7399, 0.7330.
Resistance levels0.7487, 0.7532.

Trading tips
On the four-hour chart the price can’t break down strong support level of 0.7399. On the daily chart we can see a correction of the downward movement. Target for the short-term buy orders is 0.7532.

Anastasiya Glushkova
Analyst of LiteForex Investments Limited

[LiteForexTeam]

GBP/USD: analysis and forecast

Current trend
GBP/USD has been growing within a range of 1.5196-1.5422 throughout the past week. As a result, the trading session closed at 1.5396. This week started with a positive gap that was overlapped afterwards. Then the pair resumed growth.
The absence of important macroeconomic data on the UK accounts for a prevailing sideways movement of the pound against the American dollar today. The market is expected to come to a standstill ahead of tomorrow's publication of UK key economic indexes.

Support and resistance
Quotes are still moving within the upper Bollinger band on the H4 chart. A value of 1.5439 is now a resistance level whose breakdown will allow the pair to grow to the level of 1.5475 and probably 1.5570.
Support levels: 1.5380, 1.5335, 1.5300.
Resistance levels: 1.5439, 1.5475, 1.5570.

Trading tips
Long positions should be opened once the price chart has crossed a level of 1.5439, with an exit at 1.5475. Sell below 1.5380 with a target at 1.5335.

[img]http://www.liteforex.com/uploads/other/45c6c694dce5c8444daeae93ed18dd88.jpeg">

Dmitriy Agurbash
Analyst of LiteForex Investments Limited

[LiteForexTeam]

Forex: Ichimoku Clouds. Rewiev USD/CHF

USD/CHF, H4
Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, they are both horizontal. Chinkou Span line is approaching the price chart from above; current Kumo-cloud is ascending. The pair is slowly rising, being corrected along the way. Tenkan-sen line is the closest resistance level (0.9234). Support level will be Kijun-sen line (0.9296).



USD/CHF, D1
On the daily chart Tenkan-sen line is above Kijun-sen, both lines are horizontal. Chinkou Span line is approaching the price chart from below; current Kumo-cloud is ascending. The pair is trading within a sideways channel. Tenkan-sen line is the closest support level (0.9269). The next obstacle for the price on its way up will be the lower border of the cloud (0.9829).



Key levels
Support levels: 0.9269, 0.9296.
Resistance levels: 0.9234, 0.9829.

Trading tips
On the four-hour chart the pair is slowly moving upwards, but on the daily one we can see a correction of the downward trend. Even if the pair continues to trade within a sideways channel, price chart will break through the cloud at the end of the week, giving a signal to buy. Meanwhile, short-term buy positions can be opened at current price with targets around 0.9322.

Anastasiya Glushkova
Analyst of LiteForex Investments Limited

[LiteForexTeam]

Forex: Ichimoku Clouds. Rewiev EUR/USD

EUR/USD, H4
Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, they are both directed upwards. Chinkou Span line is approaching the price chart from above. Current cloud has recently reversed from descending to ascending. The pair is trading within the cloud, borders of which become support (1.1346) and resistance (1.1402) levels.



EUR/USD, D1
On the daily chart Tenkan-sen line is below Kijun-sen, they are both horizontal. Chinkou Span line is below the price chart, current cloud is descending. After long fall, the pair is being corrected to the level of Tenkan-sen line. The closest resistance level is Kijun-sen line (1.1471). One of the previous minimums of Chinkou Span line is expected to be a support level at 1.1203.



Key levels
Support levels: 1.1346, 1.1203.
Resistance levels: 1.1402, 1.1471.

Trading tips
On the four-hour chart the pair is trading within the cloud, on the daily one we can see a correction of the downward movement. Pending sell orders can be placed below the lower border of the cloud (1.1346) with target at 1.1203.

Anastasiya Glushkova
Analyst of LiteForex Investments Limited

[LiteForexTeam]

Forex: Ichimoku Clouds. Review of XAU/USD

XAU/USD, H4
Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, they are both horizontal. Chinkou Span line is below the price chart; current Kumo-cloud is descending. The pair has broken through Tenkan-sen and Kijun-sen lines, the latter becomes a support level (1216.88). The next obstacle for the price on its way up will be the lower border of the cloud (1227.81).



XAU/USD, D1
On the daily chart Tenkan-sen line is also below Kijun-sen, the red line is directed steeply down down, while the blue one remains horizontal. Chinkou Span line has crossed the price chart from above; Senkou Span A and Senkou Span B lines have merged prior to the cloud reversal. The pair has bounced of the upper border of the cloud (1205.78). Tenkan-sen lineis the closest resistance (1221.52) level.



Key level
Support levels: 1216.88, 1205.78.
Resistance levels: 1221.52, 1227.81.

Trading tips
On the four-hour chart we can see the beginning of trend reversal, on the daily on the pair has bounced of support level of Senkou Span A line. Short-term buy orders can be placed at current price with targets at 1221.52 and 1227.81.

Anastasiya Glushkova
Analyst at LiteForex Investments Limited

[LiteForexTeam]

EUR/USD: general review

Current trend
Yesterday there was downward dynamics in Euro trading and the pair dropped to a level of 1.1356. The euro goes on declining today. The main factor hanging over the single European currency remains the Greek issue. The Greek government asked to extend the loan agreement on Thursday. However, the German minister Wolfgang Schäuble's opinion is that this suggestion is not constructive and won't help. The day before, the European commission approved of a request to extend economic aid for Greece, believing that it could help stabilize the euro zone.
Another round of negotiations between Greece and Europe is to take place today. Unless the officials reach an agreement before the end of this month, the scenario of Greek default and full-scale crisis in the eurozone becomes more and more plausible.

Support and resistance
The resistance levels are at 1.1372 (maximum of the Asian session), 1.1449 (yesterday's maximum), 1.1533 (3 February's maximum), 1.1600 (important psychological level).
Support levels: 1.3000 (important psychological level), 1.1230 ( lower line of Bollinger Bands), 1.1097 (26 January's minimum).

Trading tips
Go short after a level of 1.1300 has been broken down. Short-term target - 1.1230, main target - 1.1100. Buy above 1.1375 with targets at 1.1440 and 1.1530.



Andrey Cherkas
Analyst at LiteForex Investments Limited

[LiteForexTeam]

GBP/USD: technical analysis

Current trend

The previous week was quite volatile for the GBP/USD that traded in a range of 1.5340-1.5465. On Wednesday, following the publication of data on the UK labour market, the pound managed to rise to a resistance level of 1.5465, but did not break it down. On Friday, the British currency lost points against a backdrop of negative data on retail sales. The trading session closed below 1.5400.
The pair dropped at the beginning of this week and held below 1.5385. At present, the GBP/USD is trading near the lower limit of the channel that will be hardly broken. Bulls are expected to attempt to get back to a level of 1.5450 and hold at it.
January's data on US consumer price index and UK GDP in fourth quarter of this year are worth attention this week.

Support and resistance

Technical indicators are pointing to a further decline of quotes on H4 chart.
Resistance levels are: 1.5385, 1.5405, 1.5440, and 1.5465.
Support levels: 1.5350, 1.5315, 1.5300, and 1.5280.

Trading tips

Sell below the level of 1.5340 with the target at 1.5290. Buy above the level of 1.5385. It would be also wise to place Sell Limit orders at 1.5450.



Ilya Lashenko
Analyst of LiteForex Investments Limited

[LiteForexTeam]

Forex: Ichimoku Clouds. Review of AUD/USD

AUD/USD, H4

Let’s look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from above above the cloud, forming a signal to sell. Chinkou Span line has crossed the price chart from above, current cloud is still ascending. The pair has broken down the cloud and is moving towards 0.7680. The closest resistance level is the lower border of the cloud (0.7759).



AUD/USD, D1

On the daily chart Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Chinkou Span line is below the price chart, current cloud is descending. The pair has been corrected to the Tenkan-sen line after a long fall. The closest support level is Kijun-sen line (0.7959). One of the previous minimums of Chinkou Span line is expected to be a support level at 0.7595.



Key levels

Support levels: 0.7680, 0.7605.
Resistance levels: 0.7759, 0.7930.

Trading tips

On the four-hour chart the pair has broken down the cloud, forming strong signal to sell. On the daily chart we can see a correction of the downward movement. Targets for the sell positions are 0.7680 and 0.7605.

Anastasiya Glushkova
Analyst of LiteForex Investments Limited