GBP/USD: a recession follows inevitably an upturn
Week UK statistics were released again before noon yesterday. This time, the retail sales index dropped almost twofold. Then the favourable data on the US labour market helped the dollar to put increased pressure on the GBP/USD. The pair broke a few important support levels and dropped below 1.5030, and then partially recovered losses.
Today, the GBP/USD did not show high volatility, but the… Continue
Added by AlexanderLF on January 30, 2015 at 2:25pm —
USD/JPY: the dollar to increase advantage
The pair has been trading in a narrow sideways range of 118.80-117.25 for 2 weeks. The Japanese currency has made several unsuccessful attempts to recover, but has not managed to reach a level of 117.25. The 2-week absence of important macroeconomic data on Japan and the US decreased trading volumes, as investors focused on European leaps.
Yesterday, all major currencies consolidated against the… Continue
Added by AlexanderLF on January 29, 2015 at 3:54pm —
EUR/USD: analysis and forecast
On Tuesday, the dollar fell in price against the euro and a basket of major currencies after mixed economic news from the US was published. Thus, durable goods orders reduced 3.4% in December having disproved a 0.5% growth forecast. Core durable goods orders reduced 0.8% over the same period. In the meanwhile, the US consumer confidence index grew up to 102.9 points. This is the highest value since August… Continue
Added by AlexanderLF on January 28, 2015 at 4:02pm —
EUR/USD: analysis and forecast
The ECB announced a start of an assets buyout program on Thursday, which caused a stormy market reaction. Investors were prepared for that, but were not able to predict the program volume. The ECB plans to spend about 1.1 trillion euro on buying out assets, which equals about 60 billion per month. The EUR/USD had fallen to a level of 1.1360 by the end of Thursday, and the fall continued on Wednesday with the pair… Continue
Added by AlexanderLF on January 26, 2015 at 3:24pm —
EUR/USD: analysis and forecast
Yesterday was quite volatile for the EUR/USD. The pair traded in a narrow range of 1.1540-1.1580 before noon. Then the dollar fell in price sharply owing to the negative information on the US construction sector. A bit later, the market reacted to the news regarding the ECB's upcoming meeting. The European regulator is about to launch a monthly assets buyout program worth 50 billion euro. As a result, the EUR/USD… Continue
Added by AlexanderLF on January 22, 2015 at 4:57pm —
Forex: Ichimoku Clouds. Review of AUD/USD
Let’s look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from above, giving a singal to sell, but then both lines turned upwards. Chinkou Span line is crossing the price chart from above, current cloud is ascending. The closest resistance level is Tenkan-sen line (0.8196), upper border of the cloud will be a support level at 0.8151.
Added by AlexanderLF on January 21, 2015 at 4:58pm —
XAU/USD: analysis and forecast
Last week, the XAU/USD managed to break the level of 1245.00 that coincides with 61,8% Fibonacci level and serves as a powerful resistance line. Afterwards, gold faced a level of 1260.00, which was broken as well. Finally, the pair traded at about 1280.00 at the end of the trading session.
Gold consolidated in a narrow range of 1273.00-1281.00 yesterday, but today it has moved beyond its limits and headed… Continue
Added by AlexanderLF on January 20, 2015 at 3:18pm —
GBP/USD: demand for overbought dollar only increases
The pound made several unsuccessful attempts of recovering against the dollar last week, and then resumed declining to a local minimum of 1.5030. Sharp sales of the European currency enabled the pound's rise in demand. The pair is trading in a narrow sideways channel of 1.5120-1.5190. No high volatility is expected today, the economic calendar has no important releases concerning the UK, whereas the… Continue
Added by AlexanderLF on January 19, 2015 at 5:03pm —
EUR/USD: investors lost confidence in the European currency
Thursday became another hot day for investors and the European currency. Most investors did not doubt that the Euro would continue to weaken against a backdrop of decreasing economy growth rates and political tension within the eurozone. But nobody expected that the Swiss National bank would decide to abandon the franc peg against the euro. Due to the sharp weakening of the Euro, the… Continue
Added by AlexanderLF on January 16, 2015 at 4:05pm —
Forex: Ichimoku Clouds. Review of USD/CAD
Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, they are both horizontal. Chinkou Span line is above the price chart; current Kumo-cloud is ascending. The pair is consolidating between the red line and the blue one, which become resistance (1.1972) and support (1.1911) levels respectively.
On the daily chart Tenkan-sen… Continue
Added by AlexanderLF on January 15, 2015 at 4:22pm —
GBP/USD: general overview
Yesterday, trading GBP/USD was characterized by multidirectional dynamics. Before noon, the pair fell against a backdrop of UK negative statistics. According to that information, the consumer price index declined to 0.5% against a previous value of 1% in December. Then the pound managed to win back lost positions promptly, market participants fixed profits, and the rate reversed upwards.
Support and… Continue
Added by AlexanderLF on January 14, 2015 at 2:55pm —
USD/JPY: analysis and forecast
The current trading session started with a jerk when the USD/JPY tried to consolidate above a level of 119.00. But then the pair slumped after the opening of the American session. Today, the pair managed to drop below a level of 118.00, but promptly moved back and is trading at about 118.40.
The economic calendar suggests that the day will be calm and the pair is likely to be trading within a range of… Continue
Added by AlexanderLF on January 13, 2015 at 2:10pm —
When trading forex, one of the most important concepts to understand
is ‘spread’. Spread determines how much you, as a client, pay for your trades,
and how much money your broker earns. Thus, it’s really important to have an
understanding of what a spread means in real terms in order to choose the right
forex broker for you.
Read on to find out more...
What Is… Continue
Added by yuval on January 13, 2015 at 12:23am —
Forex: Ichimoku Clouds. Review of EUR/USD
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 cloud is descending. Despite the correction, the pair wasn’t able to break through the resistance level of Kijun-sen (1.1861). One of the previous minimums of Chinkou Span line is expected to be a support level (1.1745).
Added by AlexanderLF on January 12, 2015 at 4:19pm —
GBP/USD: general analysis
On Tuesday the pair GBP/USD has slightly grown due to technical correction. However, the USD is still supported by the data on the US GDP, which has grown by 5% versus expectations of 4.3%. Volatility is not expected to be high this week; however, the data on business activity in the manufacturing sector of the UK, which is scheduled for the release on Friday, can trigger the rise in the British currency.
Added by AlexanderLF on December 31, 2014 at 12:10pm —
Little spike to the upside earlier today in EUR/USD, but i still favour my count that suggest that there's still a little more dollar strength to come. If the bottom has reached for EUR/USD, i would need to see clear 5 waves up in 4H chart before calling this the bottom. 1.208 looks tempting and i will look EUR/USD to reach that mark.
At 1.208 wave 5 would be 1.618 (important Elliott Wave relationship) times wave 1 and this would be likely target for the end of larger wave… Continue
Added by VIVAICO on December 30, 2014 at 6:51pm —
GBP/USD: the pair will continue to trade in the downward channel
There is the lull in the market during New Year holidays. Due to lack of the macro-economic news, the pair GBP/USD is under influence of the trading sentiments. It is worth noting that despite the fact that the USD is significantly overbought, the demand on the American currency remains high. On Monday the pair slowly went down to the level of 1.5500; nevertheless this morning the… Continue
Added by AlexanderLF on December 30, 2014 at 1:52pm —
Not yet on my opinion. I think there's still a bit more to go before this half year downtrend has exhausted.
EUR/USD moving sideways today with healthy volatility. I think this is now wave 4 before final downward push to maybe 1.208. At about 1.208 wave 5 would be 1.618 x wave 1.
This would then conclude larger 5 waves down from 1.3993 (june high) and would mark the start of larger corrective move. This correction should find support around 1.30.
More analysis free of… Continue
Added by VIVAICO on December 29, 2014 at 6:31pm —
I have forecasted EUR/USD on a different timeframes on my website http://vivaico.com but wanted to speculate a little further. As my readers will know i have projected possible moves for this Forex pair on weekly and monthly charts for months or even years to the future but now i wanted to also speculate on the reasons for these moves.
All of you that have followed EUR/USD lately will now that dollar has gained strength this year and i think this… Continue
Added by VIVAICO on December 28, 2014 at 10:05pm —
EUR/USD: the pair moved to sideways channel
The market has been calm and quiet today. Fundamental data is making almost no impact on currency rates as Europe and the USA are celebrating Christmas. From technical point of view, the EUR/USD is trading within a narrow range of 1.2226-1.2160. The price dropped behind the middle line of the Bollinger bands indicator at 1.2212 and resumed a downward movement. The bulls are probably targeted at the… Continue
Added by AlexanderLF on December 26, 2014 at 4:32pm —