If you are someone who has just ventured in to Forex, please remember that ways to read
Candlestick charts are an important part of your learning curve. Technical forex traders often
make use of the candlestick charts rather than the traditional charts as they can pack in more
information than the traditional charts. They can be utilized to predict future movements in forex.
In the daily charts the patterns are formed differently but they offer…
Added by Sam Wexler on September 30, 2014 at 12:03am —
Brent: general review
Yesterday, the price of the crude oil Brent had traded in the narrow channel of 96.42-97.45. Low price level is maintained due to several factors. Last Thursday State Oil Corporation of Libya National Oil Corporation increased production of oil to 925 thousand barrels per day. Member of the OPEC gradually returns to the market after one year absence caused by the complicated political situation.
Another factor, which puts… Continue
Added by AlexanderLF on September 29, 2014 at 4:05pm —
EUR/USD: breakdown of last year lows will push the pair down
European currency continues to fall due to the negative stats on EU economic system. The last nail in the coffin was IFO indices, which were even lower than predicted. The pair EUR/USD has broken down the support level of 1.2820 and reached last year lows, but then was corrected to the level of 1.2750.
Today investors are waiting for the US GDP data and ССI publications. However,… Continue
Added by AlexanderLF on September 26, 2014 at 2:53pm —
GBP/USD: the pair can undergo correction
On Wednesday the pair GBP/USD has lost 100 points, falling to resistance level of 1.6290 (lower line of Bollinger bands); however the pair failed to consolidate below this level. The USD was supported by the data on the US real estate market: volume of the new houses sales has increased by 18.0% in August, which was above the forecast (504 thousand houses).
Today, the pair may undergo correction… Continue
Added by AlexanderLF on September 25, 2014 at 4:31pm —
XAG/USD: technical analysis
On the four-hour chart the pair XAG/USD is trading within a narrow channel. The pair has almost reached the lowest level this year at 17.33. Meanwhile, the price has hit the lower MA of Bollinger Bands, now it can bounce off and return to the middle MA at 17.76. Then the pair will probably go down to the level of 17.55. Downward trend is confirmed by both Stochastic lines, which are directed downwards, and MACD… Continue
Added by AlexanderLF on September 24, 2014 at 3:40pm —
USD/JPY: either the correction or the rise?
On Monday, the currency pair USD/JPY has corrected after the long-term growth. Probably, this is just a technical correction, which can reach the level of 107.30. However, overall state of the Japanese economy leaves much to be desired. Japanese GDP fell by 1.8% in Q2. Situation with the consumer-price inflation is also very complicated. According to the experts of the Economic Cooperation… Continue
Added by AlexanderLF on September 23, 2014 at 2:27pm —
Forex: Ichimoku Clouds. Review of USD/CAD
Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, they are both horizontal. Chinkou Span line is approaching the price chart from below; current cloud is descending. The pair has entered the cloud, borders of which become support (1.0960) and resistance levels (1.1042).
On the daily chart Tenkan-sen line is above Kijun-sen, both lines… Continue
Added by AlexanderLF on September 22, 2014 at 1:32pm —
EUR/USD: Euro will continue to decline
On Thursday the price of the pair EUR/USD has reached the level of 1.2930 (middle line of Bollinger bands); however, the pair could not consolidate at this level. Today, the pair started to go down. The American dollar was supported by strong data on the American labor market. The number of primary and secondary claims for unemployment benefits has considerably decreased.
In addition, Euro is under… Continue
Added by AlexanderLF on September 19, 2014 at 3:41pm —
NZD/USD: analysis and forecast
The quotes of the pair NZD/USD continue to drop. On Wednesday the price has reached the lows since February at the level of 0.8077. The decline was triggered by the outcome of the FOMC meeting; as it became known the volume of asset purchase will be reduced again, while incentive program will be soon terminated completely, which indicates the strength of the American economy. The meeting participants promised not… Continue
Added by AlexanderLF on September 18, 2014 at 3:55pm —
XAU/USD: general analysis
Gold continues to drop against the USD despite minor correction. On Monday, the price of gold had almost reached the 8-month lows and then went up again. The pair has continued to rise on Tuesday and is still moving up today.
Investors are waiting for the information from the US Open Market Committee on whether the asset repurchase program will be reduced or not. They would also like to know if interest rates on bonds… Continue
Added by AlexanderLF on September 17, 2014 at 3:01pm —
EURUSD: Euro lack the support
Following the significant decline of European currency against the USD, the pair has started to strengthen, and is now trading in the narrow range of 1.2870 - 1.2970. Eurozone has not demonstrated high economic growth lately, while introduction of the sanctions has intensified the negative impact. Euro is weak and is not able to win back at least some of the losses.
Ambiguous data on economic sentiment index… Continue
Added by AlexanderLF on September 16, 2014 at 2:56pm —
EUR/USD: analysis and forecast
On Wednesday afternoon the pair hit the low of 1.2855; however soon after that it has regained some losses and is trading above the level of 1.2900. Within two days EUR/USD has been trading in the narrow range without significant changes in movement. The pair looks strongly oversold; however despite this fact experts believe that the USD still has growth potential, which can find confirmation in today’s US retail… Continue
Added by AlexanderLF on September 12, 2014 at 1:45pm —
GBP/USD: “nervous tic” of the Pound before the referendum
The British currency has slightly regained after the investors’ panic caused by the probability of separation of Scotland from Great Britain. However although Pound won back some of the losses, this vexing issue still remains to be the key catalyst of the British currency. Over a week is left before the referendum and it is likely that in the following trading days volatility will be… Continue
Added by AlexanderLF on September 11, 2014 at 4:24pm —
EUR/USD: general analysis
Yesterday the price of EUR/USD continued to decline. The pair fell to the low of 14 months. Pressure on Euro was caused by the ECB’s decisions to reduce rates to the record lowest level and to launch new incentive programs
On the other hand, the pair EUR/USD is going down due to the strengthening in the USD. According to the report of Federal Reserve in San Francisco, US Fed can change interest rate sooner than… Continue
Added by AlexanderLF on September 10, 2014 at 1:38pm —
AUD/USD: China stats put pressure on the Australian currency
On Monday the currency pair AUD/USD has lost over 100 points, dropping to the three-week low at the level of 0.9250. Sharp decline in the Australian currency is associated with the data from China. It became known that contrary to predictions, imports to China decreased by 2.4% in August, which inevitably has a negative impact on the Australian producers, as China is one of the main… Continue
Added by AlexanderLF on September 9, 2014 at 2:13pm —
USD/JPY: analysis and forecast
Last week the currency pair USD/JPY has reached six-month highs. The pair has consolidated above the level of 105.00 due to the US data. The market responded to the positive US production activity index, which became known on Thursday. The index increased to the level of 59.5 points against the forecast of 58.5 points. However the pair was not able to maintain the achieved level, as investors were disappointed by the US… Continue
Added by AlexanderLF on September 8, 2014 at 3:27pm —
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Added by Calvin Brook on September 8, 2014 at 10:00am —
Forex: Ichimoku Clouds. Review of GBP/USD
On 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. The pair is still falling toward last year’s lows at 1.6250. Tenkan-sen line is the closest resistance level (1.6376).
On the daily chart Tenkan-sen line is also below Kijun-sen, however,… Continue
Added by AlexanderLF on September 5, 2014 at 4:51pm —
Forex: Ichimoku Clouds. Review of XAU/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 Kumo-cloud is descending. After a strong fall the pair has been corrected between Tenkan-sen and Kijun-sen lines, which have become support (1267.11) and resistance (1276.07) levels respectively.
Added by AlexanderLF on September 4, 2014 at 4:39pm —
USD/CAD: the pair is being corrected
This week the pair USD/CAD has been rising and hit resistance level of 1.0940. US Dollar has been supported by the positive national stats. Manufacturing PMI as well as Construction Spending have risen considerably. From the other hand, Canadian Dollar is under pressure of crude oil prices falling.
Today market players are waiting for the Bank of Canada decision of interest rate. Most probably it will… Continue
Added by AlexanderLF on September 3, 2014 at 3:12pm —