Market Analysis

01/16/2015 - 14:41
During the past week Japanese yen has once again played the role of a refuge currency, while weak US data created negative effect on USD. USD/JPY breached support in the 117.90 area and entered the daily Ichimoku Cloud. The key support is at 115.55 (38.2% Fibo of the Oct. to Dec. advance and Dec. 16 low). If the pair fixes below this level, we’ll get a double top, and the greenback will slide towards 113.50 and 111.50. If the US currency manages to stay above 115.50, it will get a chance to...
01/13/2015 - 14:30
FXBAZOOKA.com - British pound got hit by the inflation data which came out even lower than expected: consumer prices in the UK gained only 0.5% in December (forecast: +0.7%; previous: +1.0%). This is the lowest rate of annual inflation since May 2000. The Bank of England’s Governor Mark Carney will be now obliged to write a letter to Finance Minister Osborne explaining why inflation is below the 1% threshold. The continuing falling oil prices increase the negative pressure on GBP even more. It...
12/24/2014 - 14:10
By Elizaveta Belugina USD/JPY tested 115.60 (38.2% Fibonacci of the October-December advance) on Dec. 16 and then recovered to the 120 yen area. The borders of the uptrend channel have become clearer. On the weekly chart the pair formed a candle with a long lower shadow – this candle will make support at 115.60 stronger. Rather strong resistаnce is located at 122 and 123.50. Summarizing the results of the results of the past year, I’d like to say that despite being overbought USD/JPY rose by...
12/22/2014 - 13:57
Tatiana Norkina, an analyst at FBS Trading results of the last week have been quite disappointing for the bulls - the currency pair was unable to stay in the positive area. After an another bears’ attack prices have fallen under a cloud, breaking the four-hour support just above the 24th shape and reshape the technical picture. Thus, Ichimoku cloud has changed in the nature of a bear, Tenkan and Kijun lines formed a powerful dead cross, the MACD histogram went under the zero mark, and RSI is on...
12/19/2014 - 06:23
The FOMC meeting: a small step towards the rate hike, but it all depends on inflation. EUR/USD approaches the 2014 lows on the increased Fed hike expectations. Friday’s focus will be on the GfK German Consumer Climate (7:00 GMT). USD/CHF, EUR/CHF: Swiss franc fell as the SNB introduced negative interest rates. USD/JPY: recovered from support, next stop – the Bank of Japan’s meeting. GBP/USD: tested 1.5540, but remains range bound. Commodity currencies recover versus the USD amid improved risk...
12/16/2014 - 15:28
EUR/USD pushed higher on the back of the better-than-expected euro zone’s PMI and ZEW economic activity indices. The pair met resistance at 1.2560 as we speak. Push higher would open the way to 1.2600 and then, potentially, to 1.2900. On Wednesday euro zone is scheduled to release final November CPI (forecast: unchanged at +0.3%). However, the pair will mostly be driven by the Fed’s meeting expectations. GBP/USD rose as the USD was broadly weaker on Tuesday plus the British banks stress tests...
12/12/2014 - 18:08
Kira Iukhtenko Last week the markets were focused on the ECB’s TLTRO auction that took place on Thursday. In December European banks took 129 billion of cheap loans. The figure is above the September reading of 83 billion, so the market reaction was mildly positive. However, this is far below the minimum level of 200 billion needed to help the ECB to expand its balance sheet by 1 trillion euros. As a result, the long-term sentence to the euro has finally been pronounced: euro zone clearly needs...
12/12/2014 - 15:07
Kira Iukhtenko USD/JPY dipped to 117.40 on the past week on the wave the overall US dollar selloff. As can be seen from the weekly chart, the market formed a bearish engulfing candle. The pair still remains badly overbought and we concede more bearish correction to follow. Break below 117.00 yen would open the way to 115.00 and then, potentially, to 112.00 yen by the year-end. We will review this pullback as a good opportunity to buy US dollar on dips. Next week the both the US Fed and the Bank...

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