LiteForex Market Analytics

[LiteForexTeam]

Forex: Ichimoku Clouds. Review of USD/CHF

USD/CHF, 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 above the price chart; current Kumo-cloud is still ascending. The pair is stillgrowing, the closest support level is Tenkan-sen line (0.9086). One of the previous maximums of Chinkou Span line is expected to be a resistance level at 0.9130.



USD/CHF, D1

On the daily chart Tenkan-sen line is above Kijun-sen, they are both directed upwards. After another correction the pair returned to the rise. The closest support level is still Tenkan-sen line at 0.9067. One of the previous maximums of Chinkou Span line is expected to be a resistance level at 0.9170.



Key levels

Support levels: 0.9086, 0.9067.
Resistance levels: 0.9130, 0.9170.

Trading tips

Both charts confirm the upward movement. Targets for the long positions are 0.9130 and 0.9170.

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 closest resistance level is Tenkan-sen line (1287.08). One of the previous minimums of Chinkou Span line is expected to be a support level at 1267.22.



XAU/USD, D1

On the daily chart Tenkan-sen line has crossed Kijun-sen from above within the cloud. Chinkou Span line is below the price chart, current cloud has reversed from ascending to descending. The pair has broken down the cloud, the closest resistance level is the lower border of the cloud (1292.57). One of the previous minimums of Chinkou Span line is expected to be a support level at 1267.22.



Key levels

Support levels: 1267.22, 1270.26.
Resistance levels: 1287.08, 1292.57.

Trading tips

On the four-hour chart the pair is still falling, on the daily chart we can see a strong signal to sell. Targets for the short positions are 1267.22 and 1270.26.

Anastasiya Glushkova
Analyst of LiteForex Investments Limited

[LiteForexTeam]

Forex: Ichimoku Clouds. Review of Brent

Brent, H4

Let’s look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from below, forming trend reversal pattern. Chinkou Span line is crossing the price chart from below; current Kumo-cloud is descending. The closest support level is Tenkan-sen line (101.96). The next obstacle for the price on its way up will be the lower border of the cloud at 102.72.



Brent, 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 level of Tenkan-sen line, which is the closest resistance level (103.20). One of the previous minimums of Chinkou Span line is expected to be a support level at (100.88).



Key levels

Support levels: 101.96, 100.88.
Resistance levels: 102.72, 103.20.

Trading tips

On the four-hour chart we can see strong signal to buy despite downward movement on the daily chart. Target for the long position is 102.72.

Anastasiya Glushkova
Analyst of LiteForex Investments Limited

[LiteForexTeam]

GPB/USD: analysis and forecast

Current trend
The pair GBP/USD is still falling. At the beginning of today’s session the Pound has hit the lows at 1.6540, but been corrected later to the level of 1.6580. The pair continues downward movement despite Mark Carney’s promise to raise interest rate. Moreover, regulator decided to harden monetary policy.
This week Bank of England is on vacation, so investors’ attention is drawn to the USA, where Durable Goods Orders, Consumer Confidence index and preliminary GDP data are going to be published.

Support and resistance
From the technical point of view Pound looks better. Indicators give signals to buy and promise future rise if the resistance levels are broken through. Resistance levels are 1.6590, 1.6620, 1.6670, 1.6690. Support levels: 1.6540, 1.6500.

Trading tips
It is recommended to open short trades below 1.6540. Pending buy orders can be placed at 1.6540.



Ilya Laschenko
Analyst of LiteForex Investments Limited

[LiteForexTeam]

EUR/USD: last year’s lows don’t seem impossible anymore

Current trend
An abrupt fall of the European currency against US Dollar has slowed down, but trend reversal won’t be formed any time soon. Demand of Dollar is increasing, while the Europe releases are still negative. Yesterday’s key indices from Germany were disappointing. Lfo Business Climate has dropped down to the level of 106.3 points, Current Assessment — down to 111.1 points and Expectations index — down to 101.7 points. However, American currency has also lost its speed, the pair EUR/USD is consolidating after long fall.
Economic calendar in Europe is empty today; meanwhile, USA will publish Durable Goods Orders and Consumer Confidence index. The stats are expected to be positive and support national currency

Support and resistance
If the forecasts prove itselves right, the pair will break down key support level of 1.3190 and reach the lower border of the channel (1.3100). In mid-term perspective the pair will be moving towards the level of 1.3000, and that’s where last year’s lows (1.2750) don’t seem impossible anymore.
Support levels: 1.3190, 1.3100, 1.3000, 1.2970, 1.2950.
Resistance levels: 1.3250, 1.3300, 1.3350, 1.3430, 1.3520.

Trading tips
Pending sell orders can be placed at 1.3250 and 1.3300 with targets at 1.3000.



Dmitriy Likhachev
Analyst of LiteForex Investments Limited

[vuanh]

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[LiteForexTeam]

Forex: Ichimoku Clouds. Review of USD/CAD

USD/CAD, H4
On the four-hour chart Tenkan-sen line has crossed Kijun-sen from above, forming Dead Cross reversal pattern. Chinkou Span line is below the price chart; current cloud is ascending. The pair has broken down the cloud and is still falling. The lower border of the cloud becomes a resistance level at (1.0922). One of the previous minimums of Chinkou Span line is expected to be a support level at 1.0868.



USD/CAD, D1
At the daily Tenkan-sen line is above Kijun-sen, they are both horizontal. Chinkou Span line is above the price chart, current cloud is still ascending. The pair is consolidating between Tenkan-sen and Kijun-sen lines, which are resistance (1.0929) and support (1.0854) levels respectively.



Key levels
Support levels: 1.0868, 1.0854.
Resistance levels: 1.0922, 1.0929.

Trading tips
On the four-hour chart the Bearish trend is still strong. Targets for the short positions are 1.0868 and 1.0854.


Anastasiya Glushkova
Analyst of LiteForex Investments Limited

[LiteForexTeam]

AUD/USD: analysis and forecast

Current trend
Today the pair AUD/USD has reached four-week highs at 0.9374, and then been corrected. Investors are waiting for the preliminary data on US GDP. If the positive forecast proves itself right, the pair will be corrected to the levels of 0.9320 and 0.9280.

Support and resistance
Technical indicators give controversial signals, reflecting indecisive market. Bolinger Bands show a divergence, however the price chart has bounced off the upper MA. MACD histogram is in positive zone, its volumes are stable. Stochastic lines have crossed and can soon turn down.
Support levels: 0.9320, 0.9300, 0.9280.
Resistance levels: 0.9360, 0.9375, 0.9400.

Trading tips
Short trades with targets at 0.9280 can be opened as soon as the price breaks down the level of 0.9320. Long positions should be placed above 0.9360.



Dmitriy Zolotov
Analyst of LiteForex Investments Limited

[LiteForexTeam]

USD/JPY: Bank of Japan can push the pair higher

Current trend
After long rise last week the pair is now consolidating around key resistance level of 104.10. Dollar is still quite strong thanks to the positive stats from every economic sector as well as the possibility of interest rate raise. Meanwhile, Japan can’t compete with such stats. At the end of the week Yen started to regain its positions but then again lost due to the weak unemployment data and Japanese CPI. Now the pair is trading within the range of 104.10-103.80.

Support and resistance
The breakdown of 104.10 can open the way to the new highs at 105.40. Decrease of CPI may convince Bank of Japan to launch new stimulative programs, and the Yen will be weakened once again.
Support levels: 103.80, 103.00, 102.70, 101.50, 101.20, 100.80.
Resistance levels: 104.10, 104.85, 105.40.

Trading tips
It is recommended to open long trades and pending buy orders at 103.00 with take-profits at 105.40.



Dmitriy Likhachev
Analyst of LiteForex Investments Limited

[LiteForexTeam]

Forex: Ichimoku Clouds. Review of NZD/USD

NZD/USD, H4
On the four-hour chart Tenkan-sen line has crossed Kijun-sen from above within the cloud, forming a signal to sell. The pair has broken down the cloud and slowed down its fall. Chinkou Span line is crossing the price chart from above, Senkou Span A and Senkou Span B lines are getting closer prior to the cloud reversal. The closest resistance level is the lower border of the cloud (0.8352). One of the previous minimums of Chinkou Span line is expected to be a support level at 0.8277.



NZD/USD, D1
Let’s look at 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 is still trading within a downward trend, despite all the corrections. Tenkan-sen line is still a resistance level (0.8370). One of the previous minimums of Chinkou Span line is expected to be a support level at 0.8274.



Key levels
Support levels: 0.8277, 0.8274.
Resistance levels: 0.8352, 0.8370.

Trading tips
On the four-hour chart we’ve got a signal to sell, and daily chart confirms the Bearish trend. Targets for the short positions are 0.8277 and 0.8274.

Anastasiya Glushkova
Analyst of LiteForex Investments Limited