JustForex Analysis Posted February 16, 2017 Report Share Posted February 16, 2017 (edited) February 16, 2017 The forecast for EUR/USD Technical features of the currency pair: Prev. Opening: 1.05774 Opening: 1.05995 Chg. % last day: +0.23 Day range: 1.05888 - 1.06373 52-week range: 1.0366 - 1.1616 At the moment there is an ambiguous image on the EUR/USD currency pair. Yesterday we published a rather optimistic statistical data on the US economy. At the same time, the US currency fell slightly against the euro. This is due to profit-taking by foreign exchange market participants. Today we expect the statistics on the US real estate market. The MACD histogram has consolidated in the positive zone and above its signal line, indicating the growth of the EUR/USD quotations. Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals yet. Newsline on 02/16/2017: - publication of the ECB meeting protocol on the monetary policy (14:30 GMT + 2: 00); - the number of the US Building Permits (15:30 GMT + 2: 00); - the volume of new homes construction in the US (15:30 GMT + 2: 00); - the number of initial claims for benefits for unemployment in the US (15:30 GMT + 2: 00); - an index of manufacturing activity from the Federal Reserve Bank of Philadelphia (15:30 GMT + 2: 00). Trading recommendations: Support levels: 1.06150, 1.05600 Resistance levels: 1.06550 If US economic statistics is optimistic, a downward trend in EUR/USD may develop to the level of 1.05850. An alternative could be a further correction in EUR/USD to around 1.06750-1.07000. The forecast for GBP/USD Technical features of the currency pair: Prev. Opening: 1.24661 Opening: 1.24576 Chg. % last day: -0.09 Day range: 1.24536 - 1.24981 52-week range: 1.1986 - 1.5020 Yesterday's trading in the GBP/USD currency pair was very active. This is due to release of the British and US economic data. However, a significant change of the pound did not occur. Today, the GBP/USD currency pair is under the power of buyers. The price has overcome the resistance level of 1.24700. MACD histogram has started to rise and moved into the positive zone, which indicates "bullish" moods on GBP/USD. Stochastic Oscillator has fixed near the overbought zone, the %K line crossed the %D line. Currently, there are no signals. Today news background on the UK economy is calm. Trading recommendations: Support levels: 1.24700, 1.24000 Resistance levels: 1.25500 If US economic data are weak, the growth of the GBP/USD quotations may continue to mark of 1.25400-1.25500. An alternative could be a downward trend in GBP/USD to the local support of 1.24350. The forecast for USD/CAD Technical features of the currency pair: Prev. Opening: 1.30745 Opening: 1.30800 Chg. % Last day: +0.02 Day range: 1.30265 - 1.30806 52-week range: 1.2458 - 1.4692 Today, sales prevail on the USD/CAD currency pair. The Canadian dollar rose in price by more than 50 points. The nearest support level is 1.30000. We expect statistics from the US. MACD histogram has started to decline and moved into the negative zone, suggesting sales on USD/CAD. Stochastic Oscillator has reached oversold zone. Currently, there are no signals. We recommend to pay attention to the news feed from the USA. Trading recommendations: Support levels: 1.30000 Resistance levels: 1.30400, 1.30900 We believe that the USD/CAD currency pair may continue to decline. The potential for movement - 1.30000-1.29750. The forecast for USD/JPY Technical features of the currency pair: Prev. Opening: 114.258 Opening: 114.135 Chg. % last day: -0.08 Day range: 113.548 - 114.312 52-week range: 99.08 - 123.69 Yesterday the USD/JPY currency pair kept the key offers area of 114.500-114.800, prompting aggressive selling. Today, the yen rally has continued. Japan's currency has corrected by more than 50 points. MACD histogram is in the negative zone and below its signal line, indicating a drop of USD/JPY. Stochastic Oscillator has consolidated in the neutral zone, the %K line is below the %D line, which also points to the "bearish" moods on USD/JPY. It is necessary to pay attention to the news feed from the US. Trading recommendations: Support levels: 113.300 Resistance levels: 113.850, 114.500 Yesterday's forecast proved to be quite accurate. At the moment, we expect a continuation of the corrective movement on the USD/JPY currency pair. The nearest target for taking profit is 113.300-113.000. Edited February 20, 2017 by JustForex Analysis Quote Link to comment Share on other sites More sharing options...
JustForex Analysis Posted February 17, 2017 Author Report Share Posted February 17, 2017 Forex Forecast for EUR/USD, GBP/USD, USD/CAD, USD/JPY on 17 February Forecast for EUR/USD Technical showings of the currency pair: Pre-opening: 1.05995 Opening: 1.06731 Chg. % for the last day: +0.69 Day range: 1.06435 – 1.06766 52-week range: 1.0366 – 1.1616 Yesterday optimistic statistics on the US economy was published. However, the US dollar weakened against other major currencies. This is due to the decrease in profitability of US government bonds. At the moment, the technical image is indicating the development of the corrective movement. The MACD histogram has started to decline and fixed below the signal line, indicating the decrease of the EUR/USD quotes. Stochastic Oscillator is near oversold zone, the %K line is below the %D line, which delivers a weak signal to sell EUR/USD. The release of important economic data is not planned today. Trading recommendations: Support levels: 1.06150, 1.05600 Resistance levels: 1.06750 We expect a correction in the EUR/USD currency pair. One should consider selling to the mark of 1.06150-1.06000. Forecast for GBP/USD Technical showings of the currency pair: Pre-opening: 1.24576 Opening: 1.24867 Chg. % for the last day: +0.25 Day range: 1.24786 – 1.25111 52-week range: 1.1986 – 1.5020 Yesterday's trading on the GBP/USD currency pair was quite active. The pound rose against the US dollar by 0.25%. Currently, the key support and resistance levels are 1.24700 and 1.25100, respectively. We expect statistics from Britain. The MACD histogram has fixed in the positive zone, but below the signal line, which delivers a weak signal to buy GBP/USD. Stochastic Oscillator is near oversold zone, the %K line is below the %D line, which also points to the "bearish" moods on the GBP/USD. The news background for the UK economy: - base index of retail sales (11:30 GMT+2:00); - the volume of retail sales (11:30 GMT+2:00). If economic reports from Britain are optimistic, the growth of the GBP/USD quotes may continue. The potential movement is to 1.25400. Trading recommendations: Support levels: 1.24700, 1.24000 Resistance levels: 1.25100 An alternative would be a correction of the GBP/USD currency pair to around 1.24500-1.24350. Forecast for USD/CAD Technical showings of the currency pair: Prev. Opening: 1.30800 Opening: 1.30702 Chg. % Last day: -0.06 Day range: 1.30599 - 1.30858 52-week range: 1.2458 - 1.4692 At the moment there is a correction on the USD/CAD currency pair. Yesterday trading instrument held key support level of 1.30400, prompting aggressive buying. The nearest resistance is the level of 1.30900. Indicators point to the development of an upward trend. The MACD histogram has started to rise and moved into the positive zone, which indicates the growth of the USD/CAD currency pair. Stochastic Oscillator is in the neutral zone, the %K line is above the % line, which also points to purchases of USD/CAD. At 15:30 (GMT + 2: 00) the data on the volume of foreign investment in Canadian securities will be released. Trading recommendations: Support levels: 1.30400 Resistance levels: 1.30900, 1.31350 If the price consolidates above the local resistance of 1.30900, the USD/CAD quotes may further increase. The potential for movement is to 1.31350. Forecast for USD/JPY Technical showings of the currency pair: Prev. Opening: 114.135 Opening: 113.245 Chg. % Last day: -0.82 Day Range: 112.863 - 113.501 52-week range: 99.08 - 123.69 The last trading session sales prevailed on the USD/JPY currency pair. During yesterday's trading, the yen rose in price by more than 85 points. At the moment, the currency broke the key support level of 113.300. The MACD histogram has consolidated in the negative zone and continued to decline, indicating a further correction in the USD/JPY currency pair. Stochastic Oscillator has consolidated in the neutral zone, the %K line is below the %D line, indicating sales on USD/JPY. Important news for the Japanese economy is not expected today. Trading recommendations: Support levels: 112.500 Resistance levels: 113.300, 113.860 Our last forecast was confirmed. We believe that the USD/JPY currency pair will continue to decline. One should consider selling to around 112.500. Quote Link to comment Share on other sites More sharing options...
JustForex Analysis Posted February 20, 2017 Author Report Share Posted February 20, 2017 Forex forecast on February 20 for EUR/USD, GBP/USD, USD/CAD, USD/JPY The forecast for EUR/USD Technical showings of the currency pair: Prev. Opening: 1.06731 Opening: 1.06081 Chg. % last day: -0.56 Day range: 1.06027 - 1.06332 52-week range: 1.0366 - 1.1616 On Friday, 17 February, sales prevailed on the EUR/USD currency pair. Drop in prices exceeded 0.50%. At present, the euro is testing the support level of 1.06150. In the United States, the President's Day is celebrated today. We should expect a lower trading activity. The MACD histogram has consolidated in the negative zone, but above the signal line, which delivers a weak signal to sell EUR/USD. Stochastic Oscillator is in the neutral zone, the %K line is beginning to cross the %D line. Currently, there are no signals. News background: - a holiday in the US - President's Day. In January, Germany's producer price index increased and amounted to 0.7%. Market expectations were at 0.3%. **** Trading recommendations: Support levels: 1.06150, 1.05600 Resistance levels: 1.06750 The previous forecast was confirmed. We believe that the downward trend in President's Day may continue. The potential for movement is to 1.05750. The forecast for GBP/USD Technical indicators of currency pairs: Prev. Opening: 1.24867 Opening: 1.24071 Chg. % last day: -0.61 Day range: 1.24045 - 1.24402 52-week range: 1.1986 - 1.5020 During Friday's trading, the pound weakened against the US dollar. The GBP/USD quotes fell by more than 75 points. This is due to the release of weak statistics on the UK economy. The nearest support is the level of 1.24000. The MACD histogram is in the negative zone, but above the signal line, which delivers a weak signal to sell GBP/USD. Stochastic Oscillator has consolidated near the overbought zone, the %K line crossed the %D line. There are no signals yet. At 13:00 (GMT + 2: 00), the data on the index of industrial orders in Britain will be released. * Trading recommendations Support levels: 1.24000 Resistance levels: 1.24700, 1.25100 We expect "bearish" moods on the GBP/USD currency pairD. The potential for movement - 1.24000-1.23850. The forecast for USD/CAD Technical showings of the currency pair: Prev. Opening: 1.30702 Opening: 1.30945 Chg. % last day: +0.21 Day range: 1.30742 - 1.31087 52-week range: 1.2458 - 1.4692 On Friday, 17 February, the correction in the USD/CAD currency pair continued. The Canadian dollar weakened slightly against the US dollar. Currently, USD/CAD is testing the mark of 1.30900. The market is waiting for additional drivers. Indicators signals are different. The MACD histogram has started to decline and fixed below the signal line, indicating a drop in the USD/CAD currency pair prices. Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, giving a signal to buy USD/CAD. In Canada, the Family Day is celebrated today. Trading recommendations: Support levels: 1.30900, 1.30400 Resistance levels: 1.31350 The previous forecast was quite accurate. At the moment, we are waiting for the downward trend on the USD/CAD currency pair. One should consider selling to the mark of 1.30500-1.30400. The forecast for USD/JPY Technical showings of the currency pair: Prev. Opening: 113.245 Opening: 112.874 Chg. % Last day: -0.31 Day Range: 112.790 - 113.242 52-week range: 99.08 - 123.69 USD/JPY is under the power of sellers. During Friday's trading, the yen continued to rally. The demand for Japan's currency is supported against falling yields of the US government bonds. At the moment the USD/JPY currency pair is testing the local offer area of 113.000-113.300. The indicators show an ambiguous image. The MACD histogram has started to rise and fixed above the signal line, indicating purchases of USD/JPY. Stochastic Oscillator has consolidated in the neutral zone, the %K line is below the %D line, which indicates the development of the downward trend in USD/JPY. Today the weak data on the trade balance of Japan was published. Further news background is calm. Trading recommendations: Support levels: 112.500 Resistance levels: 113.300, 113.850 Forecast for 02/17/2017 proved to be quite accurate. We believe that the USD/JPY quotes may continue to decline. The nearest target for taking profit is 112.650. Quote Link to comment Share on other sites More sharing options...
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