NewForex — The technical analysis of Forex Market

Allow me to present to the distinguished community the technical analysis of Forex Market by NewForex company. In this thread I will post daily technical analytics.

Forex News from New Forex: Technical analysis of EUR/USD

 

On Tuesday the pair trades with a slight bearish sentiment within the level of support at 1.1211 and the level of resistance at 1.1274. Two previous trading sessions closed with firm bearish candlesticks which implies the market intention to keep a descending trend in the short-term. EMA 20 and 55 are rising, but they crossed locally which can be seen in an hour chart. Thus, according to the oscillator Stochastic, which entered the zone of overbought, during an intraday trading it would be sensible to follow the bears. In a four-hour timeframe the situation is slightly different. The MACD-histogram is directed upwards but still remains above its central line, the Stochastic is in the zone of oversold. Here we can expect a further market growth after the current correction. EMA20 and 55 are rising, it implies that the pair has the opportunity to stay within the current ascending trend if bulls gain support, for instance, after upbeat Eurozone statistic data.

 

http://www.newforex.com/assets/images/news//uy.jpg

 

NewForex Analyst

 

Michael Butnitsky

Forex News from New Forex: Technical analysis of EUR/USD

On Thursday trades have an obvious bearish sentiment within the level of support at 1.1122 and the level of resistance at 1.1203. The market has been steadily declining since the end of the last week. Starting from March 18th every trading session closed with a firm bearish candlestick which implies the intention of bears to consolidate their advantage and exert further pressure on the market.

 

Exponential moving averages EMA20 and 55 crossed downwards and keep descending. The indicators MACD and RSI are under their central lines and also demonstrate a downward trend. The oscillator Stochastic is moving towards the zone of oversold which implies a further development of the bearish scenario in the short run.

 

http://www.newforex.com/assets/images/news//78.jpg

 

NewForex Analyst

Luigi Campo

Forex News from New Forex: Technical analysis of USD/JPY

 

On Friday the currency pair trades with a slight bullish sentiment within the level of support at 112.60 and resistance at 113.32. During the Asian trading session the quotes jumped to a week high, but the price has not breached the current level of resistance.

 

A steady rise was observed during the whole week. However, the tendency did not break the main bearish sentiment. Exponential moving averages EMA20 and EMA55 still decline, the MACD-histogram stands above its central line but has a downtrend. RSI shows that the rising market loses its power. The Stochastic approached the zone of overbought and sends a signal to sell.

 

http://www.newforex.com/assets/images/news//44.jpg

 

NewForex Analyst

Luigi Campo

 

Forex News from New Forex: Technical analysis of EUR/USD

 

In the trading on Friday the descending dynamics started to slowdown, most markets are closed (except for Japan and the USA) due to the celebration of Good Friday. Thus, we do not expect fundamental changes in the power balance between bulls and bears.

 

The price remains within the support at 1.1137 and resistance at 1.1182. Exponential moving averages EMA20 and EMA55 decline after the yesterday’s crossing downwards. MACD and RSI stand below their central lines and go down, although a bit slowing down. The Stochastic sends a signal to buy.

 

http://www.newforex.com/assets/images/news//000.jpg

 

NewForex Analyst

Luigi Campo

Forex News from New Forex: Technical analysis of EUR/USD

 

In the morning tradings on Monday the pair trades within the support at 1.1129 and resistance at 1.1179. On a four-hour timeframe a clear price consolidation is seen within this range, the celebration of Easter Monday in Europe, Canada, Australia and New Zealand contributes to it.

 

Thus, we do not expect any considerable changes in the afternoon until the opening of tradings in the USA and the release of statistic data on Personal Consumption Expenditures in the USA.

 

The current market sentiment is bearish, in the short run Eurobears are aimed at pushing the market to 1.0950. The MACD-histogram moves below its central line being almost parallel to it. The RSI is weak, the Stochastic sends a signal to sell in the short run.

 

http://www.newforex.com/assets/images/news//EURUSD28032016.jpg

 

NewForex Analyst

 

Luigi Campo

 

Forex News from New Forex: Technical analysis of GBP/USD

 

On Monday tradings the currency pair has a slight bullish sentiment within the support at 1.4011 and resistance at 1.4181. Exponential moving averages with periods 20 and 55 (EMA20, EMA55) have crossed downwards and decline, the MACD-histogram remains below its central line and is going to rise.

 

The oscillator Stochastic reversed upwards and ascends which provides the opportunity to enter the market with a long position in the short run. Meanwhile, the movement is likely to turn into a firm long-run uptrend to 1.4450 and further to 1.4600.

 

http://www.newforex.com/assets/images/news//GBPUSD28032016.jpg

 

NewForex Analyst

 

Luigi Campo

Forex News from New Forex: Technical analysis of USD/CHF

After some lull on Monday due to the celebration of Easter in Europe by the Gregorian calendar, on Tuesday the currency pair demonstrates a bearish potential in the short run with local support at 0.9718 and resistance at 0.9786.

 

Exponential moving averages EMA20 and EMA55 crossed and decline. The MACD goes downwards although staying in the positive zone. The Stochastic left the zone of oversold and sends a signal to buy.

 

If the current level of resistance is breached, the price might enter 0.9850. In case of the opposite scenario, the downtrend might go to 0.9550.

 

http://www.newforex.com/assets/images/news//USDCHF29032016.jpg

 

NewForex Analyst

 

David Fineberg

 

Forex News from New Forex: Technical analysis of EUR/USD

 

On Tuesday tradings the currency pair is supported by a firm bullish market sentiment in the short run. The level of support is seen at 1.1162, the level of resistance is at 1.1243. Due to closed European markets yesterday (Easter Monday in Europe) at the release of statistic data in the USA the euro advanced. Market participants considered data on Personal Consumption Expenditures quite weak triggering the selloff of the dollar. The trading session closed with a bullish candlestick. However, bulls were not very strong. The release of weak data on pending home sales in the USA restricted its potential capacity.

 

Although the MACD-histogram moves upwards, it still remains below its central line. The RSI indicator declines, a correctional movement to 1.1060 is highly possible if bulls have enough power. In case of easing of the current level of resistance there might be a rise to 1.1300 — 1.1325.

 

http://www.newforex.com/assets/images/news//EURUSD29032016.jpg

 

NewForex Analyst

 

David Fineberg

Forex News from New Forex: Technical analysis of EUR/USD

 

On Wednesday the currency pair trades with a slight bullish sentiment within the price range seen at the opening of the Asian trading session. Yesterday a cautious speech of the Fed’s Chair Jannet Yellen regarding US economic perspectives considerably eased the dollar and lent support to the single currency. The market gained 100 pips and consolidated at 1.1190.

 

Judging by the current market position a further step might be the breaching of 1.1300 (which is not a challenging task) and a rise to the nearest level of resistance at 1.1328 (with support at 1.1249) and probably further to 1.1376 (a high of this year), if bulls have enough power. And there are doubts about it.

 

In spite of the bullish market sentiment (the MACD is above its central line and increases), according to the oscillators Stochastic and the RSI, the pair is overbought which implies the easing of the bullish market potential.

 

http://www.newforex.com/assets/images/news//EURUSD30032016.jpg

 

NewForex Analyst

 

Michael Butnitsky

 

Forex News from New Forex: Technical analysis of USD/JPY

 

We have been observing the decrease of quotes within this currency pair for the third day in a row after a week rise. Yesterday during the US trading session the decline strengthened. And the Fed’s Chair Jannet Yellen contributed to it as she was quite sceptical about the perspectives of the US economy in the short run which did not provide expected support to the greenback in spite of upbeat data on the Consumer Confidence Index.

 

Today USD/JPY trades with a slight bearish sentiment within the immediate support at 112.07 and resistance at 112.78.

 

Exponential moving averages with 3, 20 and 55 day periods descend. The MACD-histogram declines as well and is close to moving below its central line. The oscillator Stochastic stays in the zone of oversold.

 

http://www.newforex.com/assets/images/news//USDJPY30032016.jpg

 

NewForex Analyst

 

Michael Butnitsky

Forex News from New Forex: Technical analysis of AUD/USD

On Thursday the pair trades with a slight bullish sentiment within the level of support at 0.7619 and the level of resistance at 0.7680 with attempts to breach the latter. The rise which started on February 5 continues today, the market remains within the price channel.

 

In a four-hour timeframe the MACD-histogram stands in the positive zone but declines, the signal line goes up. The RSI stands above its central line and increases. It shows that the market has not exhausted its bullish potential yet and we can expect the continuation of the uptrend but only if the price consolidates above 0.7680. Up to this moment the situation is unclear.

 

http://www.newforex.com/assets/images/news//AUDUSD31032016.jpg

 

NewForex Analyst

 

Luigi Campo

 

Forex News from New Forex: Technical analysis of USD/JPY

 

On Thursday the currency pair trades with a bearish sentiment within the support at 112.04 and the resistance at 112.57.

 

Moving averages EMA3, EMA20 and EMA55 crossed downwards and decline. The MACD entered a negative zone, the histogram stands in flat, a signal line goes down.

 

http://www.newforex.com/assets/images/news//USDJPY31032016.jpg

 

NewForex Analyst

 

Luigi Campo

Forex News from New Forex: Technical analysis of EUR/USD

 

On Friday the pair trades within the support at 1.1345 and resistance at 1.1448. The market rise, which started last week, gradually slows down. The MACD histogram stands in the positive zone but its increase is not so apparent . The oscillator Stochastic is in the zone of overbought. The RSI goes up which means that the market has not exhausted its bullish potential. Market participants are in the anticipation of Friday payrolls.

 

http://www.newforex.com/assets/images/news//EURUSD01042016.jpg

 

NewForex Analyst

 

David Fineberg

Forex News from New Forex: Technical analysis of EUR/USD

 

On Thursday the currency pair trades with a slight decline after the yesterday’s high at 1.1446 within the support at 1.1398 and resistance at 1.1477. However, exponential moving averages with the period 3, 20 and 55 days indicate the coming rise of the market. In a 4-hour timeframe the MACD-histogram entered a positive zone and moves upwards. But the relative strength indicator (RSI) stands below its central line which implies that the current movement is not strong enough.

 

http://f1.s.qip.ru/s6WVNpCW.png

 

NewForex Analyst

Michael Butnitsky

Forex News from New Forex: Technical analysis of GBP/USD

 

In the trading on Tuesday a slight bullish sentiment is seen. Bouncing off the support at 1.4332 the price tested the level of resistance at 1.4524 today, thus forming a firm bullish candlestick. In case of success and breaching of the current resistance by bulls, we will be able to observe a market movement to 1.4550 and probably further to 1.4597.

 

As for short positions, currently they seem highly risky. However, those who wish may enter the market with a short position but not before forming a firm bearish candlestick below a strong level of resistance at 1.4597.

 

http://f4.s.qip.ru/s6WVNpFn.png

 

NewForex Analyst

 

Sara Rosenstein

 

Forex News from New Forex: Technical analysis of EUR/USD

 

On Tuesday the currency pair trades within the immediate support at 1.1302 and resistance at 1.1350. After a failed attempt to breach the level of resistance in the trading on Monday (the price did not leave 1.1341), a bearish sentiment prevails in the market today with the consolidation towards the low of the last week (1.1282).

 

In a day chart the MACD-histogram stands above the central line but the indicator is directed downwards. The oscillator Stochastic entered the zone of oversold which implies that bears start losing their power.

 

Thus, currently we do not see any signs of a long-term market trend.

 

http://f4.s.qip.ru/s6WVNpFo.png

 

NewForex Analyst

 

Sara Rosenstein

Forex News from New Forex: Technical analysis of GBP/USD

 

In the trading on Tuesday the pair demonstrated some volatility but did not manage to form a strong trend. On Wednesday trades are seen within the support at 1.4433 and resistance at 1.4591. In case of breaching the current level of support, the market might decline to 1.4235. If the level of resistance is breached, we may see the price at 1.4640.

 

In a fourhour timeframe the MACD-histogram entered the zone above its central line and the indicator moves upwards. EMA20 and EMA55 slowed down and flattened out. The oscillator Stochastic signals about the coming downtrend of the market.

 

http://f3.s.qip.ru/s6WVNpFM.png

 

NewForex Analyst

 

Michael Butnitsky

 

Forex News from New Forex: Technical analysis of EUR/USD

 

On Monday and Tuesday after some flat within 30-40 pips the euro keeps losing ground which was observed last week. In the trading on Wednesday euro/dollar trades with a slight downtrend standing within the support at 1.1229 and resistance at 1.1330.

 

The sentiment is more neutral today, a bullish and a bearish market potential hold parity. Force of opposing parties with the perspective of the further evolution of the currency rate will be clear as soon as the phase of correctional consolidation terminates and local levels of support-resistance are breached in the short run. In case of breaching the support, the market might move towards 1.1130. In case of breaching the resistance level, the price might rise to 1.1460.

 

http://f4.s.qip.ru/s6WVNpFN.png

 

NewForex Analyst

 

Michael Butnitsky

Forex News from New Forex: Technical analysis of EUR/USD

 

On Thursday tradings of EUR/USD demonstrate a downtrend with the support at 1.1161 and resistance at 1.1270. It should be noted that the pair shows the signs of oversold.

 

In a four-hour timeframe EMA20 and EMA55 move downwards, the MACD-histogram stands below its central line and declines as well as the RSI. The oscillator Stochastic is seen in the zone of oversold.

 

http://f6.s.qip.ru/s6WVNpGi.png

 

NewForex Analyst

 

Luigi Campo

Forex News from New Forex: Technical analysis of EUR/USD

 

On Monday a trading session develops with the same dynamics which was observed on Friday. Trades are seen within the immediate support and resistance at 1.1210 and 1.1254.

 

In a four-hour timeframe EMA20 and EMA55 keep sliding, the MACD-histogram turned upwards but remains below its central line. It means that bulls have not gained enough power to overcome the bearish market pressure which we see since the start of May. The RSI is weak and stays below the central line so far. The oscillator Stochastic approaches the zone of overbought.

 

In case of breaching the strong level of support at 1.1180, we might see the price at 1.1130. If the level of resistance is breached at 1.1254, the market will be able to enter the area of 1.1315.

 

http://f6.s.qip.ru/s6WVNpHD.png

 

NewForex Analyst

 

Joseph Schwartz

 

Forex News from New Forex: Technical analysis of USD/CHF

 

On Monday the pair trades with a firm bullish potential. In case of the rebound from support at 0.0881 and breaching resistance at 0.9920, we might see the price at 0.9959 and further rally to 1.000. Breaching the level of support at 0.9850 a downtrend to 0.9755 might be seen.

 

EMA20 and EMA50 rise, in the short run there might be a crossing upwards with EMA3. The MACD-histogram remains below its central line but slows down. The Stochastic left the zone of overbought and moves down which implies giving power from bulls to bears in the short run. In the longer term we expect a further market increase.

 

http://f1.s.qip.ru/s6WVNpHE.png

 

NewForex Analyst

 

Joseph Schwartz

Forex News from New Forex: Technical analysis of EUR/USD

 

On Tuesday the trading instrument shows a downtrend. The market’s volatility is relatively high. It breached the nearest level of support at 1.1205 and tests the next at 1.1176.

 

In case of seller's consolidation, which is enough to breach the current level of support at 1.1176 and hold the price below it, we might observe the movement to 1.1130. Otherwise, the pair may rise to 1.1315 consolidating above 1.1230.

 

The MACD-histogram remains in the negative zone but is directed upwards, the RSI displays the weakness of buyers and considerable potential of sellers. Exponential moving averages are close to crossing and are directed downwards.

 

http://f6.s.qip.ru/s6WVNpI7.png

 

NewForex Analyst

 

David Fineberg

 

Forex News from New Forex: Technical analysis of USD/JPY

 

On Tuesday the currency pair trades with a slight downtrend within the level of support at 108.58 and resistance at 109.76. EMA20 and EMA55 slowed down and flatten out, the MACD-histogram slumped below its central line and moves downwards. The RSI and Stochastic demonstrate strengthening of the bullish market potential.

 

Thus, we might expect a pullback to resistance at 110. 31. In case of breaching it, the market might go to 111.50. If the support is breached, the price may decrease to 108.04.

 

http://f2.s.qip.ru/s6WVNpI8.png

 

NewForex Analyst

 

David Fineberg

Forex News from New Forex: Technical analysis of EUR/USD

 

On Wednesday the pair trades with slight downward price movements within the support at 1.1089 and resistance at 1.1184. Signs of overbought are observed in the market. All display moving averages decline without any signs of slowdown.

 

The MACD-histogram remains in the negative zone and holds a signal to sell. The RSI stays below the central line and slides down, the oscillator Stochastic stands in the zone of oversold which implies a considerable potential of sellers.

 

http://www.newforex.com/assets/images/news//7548484.jpg

 

NewForex Analyst

 

Sara Rosenstein

 

Forex News from New Forex: Technical analysis of GBP/USD

 

Making a firm bullish candlestick at the end of the trading session on Tuesday, today the currency pair demonstrates a slight price rise. The pair stands within the support at 1.4554 and resistance at 1.4725. Exponential moving averages EMA20 and EMA55 accelerated and increase.

 

The MACD-histogram entered the zone above its central line and move upwards. The oscillator Stochastic stays in the zone of overbought sending signals to sell.

 

http://www.newforex.com/assets/images/news//060606.jpg

 

NewForex Analyst

 

Sara Rosenstein

Forex News from New Forex: Technical analysis of EUR/USD

 

In the trading on Thursday the market remains within the support at 1.1143 and resistance at 1.1180. Exponential moving averages have slowed down considerably. The MACD-histogram stays in the negative zone but turned upwards. The RSI demonstrates some weakening of buyers with a possible shift of power to sellers, the oscillator Stochastic stands in the zone of overbought.

 

Bears might get a chance to push the market to 1.1010 if the price consolidates below the strong support level at 1.1100. Otherwise, when bulls fix above 1.1200, we might see the price at 1.1310.

 

http://www.newforex.com/assets/images/news//EURUSD26052016.jpg

 

NewForex Analyst

 

Michael Butnitsky

 

Forex News from New Forex: Technical analysis of USD/JPY

 

On Thursday the currency pair trades with a slight upward movement within the support at 110.02 and resistance at 110.63. EMA20 and EMA55 slowed down and are close to crossing. The MACD-histogram entered a positive zone and move upwards, the Stochastic sends signals to buyers. In case of their consolidation above the level of resistance, the market has a potential to rise to 111.50. However, if bears manage to hold the level below a strong support at 109.60, the success of buyers towards 108.50 will become more obvious.

 

http://www.newforex.com/assets/images/news//USDJPY26052016.jpg

 

NewForex Analyst

 

Michael Butnitsky

Forex News from New Forex: Technical analysis of EUR/USD

 

On Friday all market participants are in the anticipation of the speech of Janet Yellen, Fed’s Chair. Consequently, the market does not show any swift movements and the situation is likely to remain unchanged till 17:15 GMT. What’t more, the G7 meeting is held in Japan at the moment, its participants are expected to make a speech by the end of it.

 

Thus, in spite of forming a firm bullish candlestick on the close of yesterday’s trading session, it’s early to speak about the further upsurge or decline. Today fundamental market factors decide everything.

 

At the moment trades are seen within the support at 1.1172 and resistance at 1.1240. In a day chart the MACD-histogram remains in the negative zone and declines. Exponential moving averages with the period 20 and 55 days slowed down and are close to being crossed. The RSI indicator demonstrates further easing of the bullish market sentiment sliding slightly below the central magnitude. The oscillator Stochastic is near to leaving the zone of oversold and sends signals to buy which might be fallacious if we take the above mentioned technical features into consideration.

 

http://www.newforex.com/assets/images/news//EURUSD27052016.jpg

 

NewForex Analyst

 

David Fineberg

 

Forex News from New Forex: Technical analysis of GBP/USD

 

On Friday trades show a slight sagging in comparison with the previous trading session within the support at 1.4640 and resistance at 1.4715. A classical pattern"Short Sqeeze" indicates the start of price correction in the short run.

 

The sterling settled above the immediate strong support at 1.4640, but a clear-cut market movement has not been formed yet. All market participants expect the results of G7 meeting in Japan and the speech of the Fed’s Chair Jannet Yellen.

 

EMA20 and EMA55 rise, the MACD-histogram stays above its central line but is close to reverse. The Stochastic confirms market uncertainty.

 

http://www.newforex.com/assets/images/news//GBPUSD27052016.jpg

 

NewForex Analyst

 

David Fineberg

Forex News from New Forex: Technical analysis of EUR/USD

 

In the trading on Monday the pair trades with a slight downtrend and the price remains within the immediate support at 1.1067 and resistance at 1.1159. The MACD-histogram stays in the negative zone and looks down. Exponential moving averages with the period 20 and 55 keep declining, the oscillator Stochastic is close to leaving the zone of oversold but has not left it yet.

 

Thus, the technical structure indicates today that the market continues a downtrend within the descending corridor.

 

http://www.newforex.com/assets/images/news//EURUSD30052016.jpg

 

NewForex Analyst

 

Luigi Campo

 

Forex News from New Forex: Technical analysis of GBP/USD

 

On Monday the pair trades with some descend within the support at 1.4570 and resistance at 1.4656. EMA20 and EMA55 slowed down and flatten out. The MACD-histogram decreased and approached its central line looking downwards. The oscillator Stochastic stays in the zone of oversold.

 

If the market breaches the level at 1.4570 and consolidates below support, there might be a descending movement to 1.4350. If the market consolidates above resistance at 1.4656, we may see a rise to 1.4750.

 

http://www.newforex.com/assets/images/news//GBPUSD30052016.jpg

 

NewForex Analyst

 

Luigi Campo

Forex News from New Forex: Technical analysis of GBP/USD

 

On Tuesday the pair trades with some downtrend within the support at 1.4614 and resistance at 1.4670. The MACD-histogram has decreased and is close to a central line, the oscillator Stochastic sends a signal to sell but moving averages have not reversed yet.

 

The market situation is uncertain, now we observe the phase of correctional consolidation in the course of which further dynamics of the currency rate will be seen in the short run.

 

http://www.newforex.com/assets/images/news//GBPUSD31052016.jpg

 

NewForex Analyst

 

Joseph Schwartz

 

Forex News from New Forex: Technical analysis of EUR/USD

 

On Tuesday the currency pair trades with a firm potential to decline with the nearest target at 1.1085. Currently the market remains within the support at 1.1118 and resistance at 1.1168. Today a monthly candlestick will close and in the short run bulls have almost no chance to change its bearish status. May is a lost month for them.

 

Exponential moving averages descend, the MACD-histogram remains in the negative zone as well as the RSI which keeps standing below its central line. Oversold is out of the question, rather on the contrary. The Stochastic sends signals to sell. Thus, at the moment buying seems highly risky in this market.

 

http://www.newforex.com/assets/images/news//EURUSD31052016.jpg

 

NewForex Analyst

 

Joseph Schwartz

Forex News from New Forex: Technical analysis of EUR/USD

 

In the Asian trading session on Wednesday the currency pair trades with a slight price rise staying within the support at 1.1099 and resistance at 1.1153. In the short run the market has definitely a bullish sentiment with attempts to breach the current level of resistance.

 

Exponential moving averages have significantly slowed down, the MACD-histogram reduced and is close to entering a positive zone looking upwards. The oscillator Stochastic is seen in the zone of oversold sending signals to buy. The RSI indicates a firm bullish market potential and is about to enter the zone above its central line.

 

Thus, the technical structure is not in favour of bears today. The question left is whether buyers will take advantage of it?

 

In case of breaching the level of resistance, the nearest target might be 1.1216 and further 1.1242. Otherwise, the price might slide to 1.1010.

 

http://www.newforex.com/assets/images/news//EURUSD01062016.jpg

 

NewForex Analyst

 

Luigi Campo

 

Forex News from New Forex: Technical analysis of GBP/USD

 

On Wednesday the currency pair demonstrates a decline staying within the support at 1.4343 and resistance at 1.4604. As for short-term prospects of the market development the current technical structure says that moving averages EMA20 and EMA55 slowed down and are close to crossing downwards.

 

The MACD-histogram slid into the negative zone and moves further down. The RSI indicates that buyers supporting the bullish market sentiment have eased. However, the oscillator Stochastic entered the zone of oversold and sends signals to buy but it might be fallacious.

 

http://www.newforex.com/assets/images/news//GBPUSD01062016.jpg

 

NewForex Analyst

 

Luigi Campo

Forex News from New Forex: Technical analysis of GBP/USD

 

At the opening of the European trading session the pair trades with some sagging staying within the immediate support at 1.4339 and resistance at 1.4462. Exponential moving averages with periods 20 and 55 days crossed downwards and keep sliding but have slightly slowed down.

 

The MACD-histogram decreases as well staying in the negative zone. Sellers still preserve their power and currently buyers have little chance to reverse the trend. At the same time the oscillator Stochastic and the RSI indicate that the pair is oversold which might boost a bullish potential of the market.

 

http://www.newforex.com/assets/images/news//GBPUSD02062016.jpg

 

NewForex Analyst

 

Michael Butnitsky

 

Forex News from New Forex: Technical analysis of EUR/USD

 

At the closing of the Asian trading session on Thursday the pair shows a slight price rise within the immediate support at 1.1151 and resistance at 1.1233. Moving averages EMA20 and EMA55 look upwards, the MACD-histogram entered the positive zone and rises along with the strengthening of the RSI which moves upwards as well. However, it’s too early to speak about any serious market reverse, the oscillator Stochastic is seen in the zone of overbought and sends signals to sell.

 

http://www.newforex.com/assets/images/news//EURUSD02062016.jpg

 

NewForex Analyst

 

Michael Butnitsky

Forex News from New Forex: Technical analysis of EUR/USD

 

In the trading on Tuesday the currency pair is seen within the immediate support at 1.1268 and resistance at 1.1349 showing a slender lead of bulls.

 

In a four-hour time frame we see that exponential moving averages with periods 20 and 55 days are close to crossing upwards and keep rising. The MACD-histogram stays in the positive zone but has slightly slowed down the current trend signaling the continuation of the uptrend. The RSI stands above its central line but demonstrates a trend with the possible consolidation at 1.1350-60 counterbalancing bulls and bears.

 

http://f3.s.qip.ru/s6WVNpSR.png

 

NewForex Analyst

 

Michael Butnitsky

 

 

Forex News from New Forex: Technical analysis of GBP/USD

 

In the European trading session we observe the continuation of the uptrend in the market. The price remains within the level of support at 1.4566 and resistance at 1.4852.

 

Exponential moving averages EMA20 and EMA55 crossed upwards and rise, the RSI demonstrates accumulating power of the current bullish trend. However, the oscillator Stochastic stays in the zone of overbought since the end of the last week which might signal the coming change of the market sentiment.

 

http://f6.s.qip.ru/s6WVNpSS.png

 

NewForex Analyst

 

Michael Butnitsky

Forex News from New Forex: Technical analysis of GBP/USD

 

On Wednesday trades the currency pair demonstrates a slight decline standing within the support at 1.4551 and resistance at 1.4718.

 

EMA20 and EMA55 keep rising today, the MACD-histogram has slowed down but remains in the positive zone, the RSI indicates that bulls have weakened a bit and the market shows an uptrend.

 

The oscillator Stochastic left the zone of overbought which might be an anticipated signal to a new rise according to the current technical structure, especially if we take into account that the market consolidated above the lines of Ichimoku Kinko Hyo.

 

http://f5.s.qip.ru/s6WVNpTn.png

 

NewForex Analyst

 

Michael Butnitsky

 

Forex News from New Forex: Technical analysis of EUR/USD

 

On Wednesday the pair trades with a considerable price decline within the immediate support at 1.1187 and resistance at 1.1297. Yesterday’s trades closed with a firm bearish candlestick which indicates a trend change in favour of bears.

 

In a four-hour timeframe all exponential moving averages crossed downwards and descend. The MACD-histogram entered a negative zone and started to decline as well as the RSI. The oscillator Stochastic indicates that the currency pair is oversold which might mean the end of the correctional movement in the short run and growth recovery of this market.

 

In the short run if bears manage to fix below the strong support at 1.1131, they will breach the market to 1.0853-33. If bulls stay above the resistance at 1.1353, the pair might rise to 1.1415.

 

http://f6.s.qip.ru/s6WVNpTo.png

 

NewForex Analyst

 

Michael Butnitsky

Forex News from New Forex: Technical analysis of GBP/USD

 

In the trading on Thursday the pound sterling has significantly increased against the US dollar overcoming the immediate resistance at 1.4847 and now testing the next level at 1.4913, a high since 29 December 2015. The price consolidated above the lines of Ichimoku Kinko Hyo which implies a further development of the bullish scenario and the market growth to the next resistance level at 1.4950. Exponential moving averages with periods 3, 20 and 55 days increase, the MACD-histogram stays in the positive zone and rises as well as the RSI.

 

However, the market situation is not so clear due to the referendum in the UK today whose results might influence strongly on the financial market.

 

http://f6.s.qip.ru/s6WVNpTW.png

 

NewForex Analyst

 

Luigi Campo

 

Forex News from New Forex: Technical analysis of EUR/USD

 

On Thursday the currency pair trades with a considerable price rise within the support at 1.1267 breaching the immediate resistance level at 1.1368 and tests now 1.1415, a high of this month. It is likely that it’s the result of the tendency among the Brits to buy euros as long as the Brexit results are not announced.

 

Exponential moving averages with the periods 20 and 55 days crossed upwards and grow. The MACD-histogram entered a positive zone but lags behind with the signal for bulls. The oscillator Stochastic stands in the zone of overbought. Thus, the current market situation is unclear, all market participants wait for Brexit results.

 

http://f6.s.qip.ru/s6WVNpTV.png

 

NewForex Analyst

 

Luigi Campo