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  1. #181
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    USD/JPY: general analysis

    Current trend

    Despite strong macroeconomic statistics that were released today in Japan, the Yen remains under pressure amid expectations of a cut in interest rates at the upcoming Bank of Japan meeting, due 29 July. Moreover, it should also be noted that other major central banks also consider further easing of monetary policy to overcome negative effects of Britain’s exit from the EU. Thus, the US Dollar is seen as a more attractive asset in the current situation.

    Support and resistance

    Bollinger Bands on the 4-hour chart is directed horizontally while the price range is showing no changes. The instrument fell below the support level of 106.27. MACD histogram is in the positive zone, but its volumes are falling. The indicator is giving a sell signal. Stochastic reached the border of the overbought zone and turned down.
    The indicators recommend short positions.
    Support levels: 105.98, 105.67, 105.43, 105.04.
    Resistance levels: 106.27, 106.50, 106.70, 107.16, 107.45.

    Trading tips

    Short positions can be opened from the current levels with the target at 105.43 and stop-loss at 106.70. Validity – 1-2 days.
    Long positions can be opened from the level of 106.50 with the target at 107.00 and stop-loss at 106.15. Validity – 1-2 days.


  2. #182
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    GBP/USD: review and forecast

    Current trend

    The pair continues trading in a narrow sideways channel near the level of 1.3100 amid lack of important macroeconomic news form the UK and prior to the Fed Interest Rate Decision that is due today. According to forecasts, the rate will remain unchanged.
    At the same time, the majority of market participants expect a rate cut in the UK in the nearest future while the probability of monetary policy tightening in the US before the end of the year significantly increased, which is pressuring the pair.

    Support and resistance

    In the medium-term, the price is expected to fall to the level of 1.3000, where it will reverse and return to the level of 1.3250.
    On the 4-hour chart, the price is trading near the lower MA of Bollinger Bands while bands are narrowing.
    Support levels: 1.3050, 1.3000, 1.2860.
    Resistance levels: 1.3150, 1.3250, 1.3310, 1.3400, 1.3480.

    Trading tips

    Pending buy order can be placed at the level of 1.3000 with the target at 1.3250 and stop-loss at 1.2900.
    Short positions can be opened from the level of 1.2940 with the target at 1.2860 and stop-loss at 1.3000.


  3. #183
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    USD/JPY: review and forecast

    Current trend

    Yesterday the pair showed a volatile trade amid the publication of important news.
    The pair was significantly supported by information of a possible expansion in the stimulus program in Japan that could amount to $265 billion. Later in the day, however, the Dollar was pressured by the Fed decision to leave its interest rate unchanged at 0.5%.
    Today attention needs to be paid to data on Initial Jobless Claims in the US. Better-than-forecast figure could provide additional support to the pair. Extra attention needs to be paid to tomorrow’s monetary policy decision by the Bank of Japan.

    Support and resistance

    The pair bounced off the border of the descending channel and at present consolidated below the psychologically important level of 105.00. A breakdown of 50% Fibonacci correction could accelerate pair’s fall.
    The RSI is breaking down the 50-point mark suggesting the fall could continue.
    Support levels: 104.50, 103.20, 102.40.
    Resistance levels: 105.30, 106.00, 106.50, 107.50.

    Trading tips

    Long positions can be opened after the breakout of the level of 105.40 with targets at 106.00, 106.50.
    Short positions can be opened from the level of 104.40 with targets at 103.80, 103.20.


  4. #184
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    XAU/USD: general review

    Current trend

    After a significant growth on Thursday amid the US Fed Interest Rate Decision, the price of gold slightly fell. The instrument was pressured by expectations of strong data on the US GDP for the second quarter of the year. According to forecasts, the index will grow from 1.1% to 2.6%. However, the Dollar remains under pressure due to uncertainty regarding plans of the American regulator on monetary policy tightening during this year. The probability of a rate hike at September’s meeting currently stands at only 14%.

    Support and resistance

    On the 4-hour chart, Bollinger Bands is directed down while the price range is narrowing, suggesting the likelihood of a trend change. MACD is turning down. Stochastic turned up near the border of the oversold zone.
    The indicators recommend short positions.
    Support levels: 1330.01, 1327.52, 1325.53, 1323.21, 1321.05, 1318.72, 1315.74.
    Resistance levels: 1336.32, 1340.46, 1342.29, 1345.28, 1346.77.

    Trading tips

    Short positions can be opened from current prices with the target at 1321.00 and stop-loss at 1340.00. Validity – 1 day.
    Long positions can be opened from the level of 1318.70 with the target at 1323.00 and stop-loss at 1313.50. Validity – 1 day.


  5. #185
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    XAU/USD: general review

    Current trend

    Gold quotes are growing after lingering downward trend caused by strengthening of US dollar. On Friday, US dollar was under pressure of weak data on average earnings in USA. According to the data published, the indicator grew by 0.2%, though analytics expected it to grow by 0.3%. Despite that new Nonfarm Payrolls data appeared to be better than forecasted, this provided no support for US currency. Positive labor market data was already taken into account, as preliminary data from ADP had shown huge growth in employment. Investors focused their attention on weak earnings growth and started locking in the profits for dollar positions. As a result, gold rate grew by 0.33%. Gold quotes grew by 0.20% more within today's trading session.

    Support and resistance

    Today, gold is testing 1211.06, but can't consolidate above it yet. On the H4 chart, Bollinger Bands converge, predicting continuation of current upward trend. MACD histogram is in negative zone, its volume is decreasing, signalling that there still is growth potential.
    Support levels: 1203.81, 1198.45, 1194.83.
    Resistance levels: 1211.06, 1216.79, 1220.67.

    Trading tips

    Buy positions may be opened above 1211.06 with Take Profit orders at 1216.79 and stop-loss at 1209.06.
    Sell positions may be opened below 1203.81 with Take Profit orders at 1198.45 and stop-loss at 1205.80.


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