Market Analysis

11/28/2014 - 14:56
By Elizaveta Belugina British pound has left its sideways range and tested levels above 1.5800. In line with our expectations, the market players used this increase as an opportunity to sell the pair. November is the 5th month of losses for the British currency. GBP/USD fell below the monthly Ichimoku Cloud. Taking into account the technical picture and the general strength of the US dollar, there are reasons to expect the resumption of the downtrend. In the first 3 days of the next week we’ll...
11/28/2014 - 14:56
Kira Iukhtenko EUR/USD attempted to recover on the past week, bringing many analysts to the idea of a “double bottom” formation at 1.2350.  However, the price failed to fix above the 1.2500 mark and holds below the key trend resistance line. We maintain a bearish view, targeting 1.2360 and lower. Euro remains pressured by the expectations of the full-scale ECB quantitative easing. Low energy prices increase disinflationary expectations.  Next meeting is scheduled for the coming Thursday,...
11/28/2014 - 14:55
By Elizaveta Belugina It was a rather calm week for USD/JPY. The pair spent most time consolidating between 118.50 and 117.20. Dollar’s growth was limited by lower than expected US data. On Friday, however, yen fell victim to the economic news. Japan released inflation data which showed that consumer prices increased by only 0.9% – this is the lowest level this year. The reading is not exactly the one you see in the economic calendar: it is adjusted for the April sales tax hike. There are...
11/28/2014 - 14:53
Kira Iukhtenko USD index held below the November 23 low of 88.40 on the past week. However, the OPEC’s decision to leave output quota unchanged on Thursday revived demand for the US currency: on Friday the index opened with a gap up. The decision was not a surprise, but pulled oil prices to the new low together with the “commodity” currencies: Australian, Canadian and New Zealand dollars. Next week the trend is expected to continue. As for the economic calendar, watch the US November PMI...
11/25/2014 - 13:34
Alex Weber The recent inability of EUR/USD to break above the 1.2600 mark lowered the near-term bullish expectations. However, the sellers should be careful these days: on Monday the price managed to recover from the November lows. I see a risk of a double bottom formation in case of a break above the 1.2500 mark. Next resistance lies at 1.2600 – these are the November highs. In the long-term I still stay bearish, but at the end of the year we can’t exclude a recovery towards the 1.2900 area....
11/24/2014 - 13:02
Tatyana Norkina, FBS The 1.5600 figure remains a strong support: last week the bears failed to pull lower. In the coming days we forecast the recovery towards the upper border of the Cloud. Watch the resistance at 1.5760. Oscillators could also signal a corrective recovery. However, the major bearish trend still remains active. Technical levels: support – 1.5600; resistance – 1.5700, 1.5760, 1.5875. Trade recommendations: 1. Buy — 1.5700; SL — 1.5680; TP1 — 1.5760; TP2 — 1.5875. 2. Sell — 1....
11/24/2014 - 12:59
Tatyana Norkina, FBS Bulls capitulated on Friday: unsuccessful test of the H4 cloud upper border has supported the sellers. As a result, trading moved to the negative territory and lowered the currency exchange rate towards the recent lows - 1.2360. On Monday the price attempted to recover, but the medium-term picture is now bearish. Tenkan-sen and Kijun-sen are forming a dead-cross. Negative Cloud is now once again widening into the negative zone. Oscilators are also pointing to further...
11/17/2014 - 14:40
Hello, dear traders! The new week has started, so we are once again here for you with the daily trading plans. EUR/USD: The pair pushed higher on the wave of short-covering, but failed to fix above 1.2550 for now (38.2% Fibo). We expect the upside to be limited by the 1.2600 figure – this is where the medium-term trend resistance lies. On Tuesday watch German and euro zone’s economic sentiment data at 10:00 GMT (forecasts – upbeat). GBP/USD: The pair started Monday on the positive note, but was...

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