Technical Analysis from LiteForex company

[LiteForexTeam]

XAG/USD: technical analysis

*

XAG/USD, D1

On the daily chart, the pair is trading above the upper MA of Bollinger Bands. The price remains below the EMA100 and EMA144, both directed horizontally. MACD histogram is in the positive zone, its volumes are insignificant. The DI lines are directed down; ADX is growing.

*

XAG/USD, H4

On the 4-hour chart, the pair is trading in the area of the upper MA of Bollinger Bands. The price remains above the EMA50, EMA100 and EMA144, all directed up. MACD histogram is in the positive zone. The DI lines are moving in different directions; ADX is falling.

*

Support and resistance

Support levels: 14.37, 14.25, 13.99, 13.78, 13.68.

Resistance levels: 14.52, 14.70, 14.95, 15.28, 15.51, 16.13, 16.34.

*

Trading tips

Long positions can be opened from the level of 14.52 with targets at 14.70, 14.95 and stop-loss at 14.37.

Short positions can be opened from the level of 14.37 with targets at 14.25, 14.00 and stop-loss at 14.50.

Validity – 1-2 days.

 

http://savepic.net/7633899.png

http://savepic.net/7632875.png

[LiteForexTeam]

USD/JPY: general review

*

Current trend

The pair continues growing even though the Fed at yesterday’s meeting left the interest rate unchanged.

At the same time, the Bank of Japan is expected to expand its stimulation program to reach the inflation target of 2% that would lead to further fall in the Yen. Furthermore, cheaper national currency would allow increasing Japanese exports and making them more competitive, that would have a positive effect on the economy.

According to forecasts, the pair can grow to the level of 125.00.

*

Support and resistance

Support levels: 117.85.

Resistance levels: 119.10.

*

Trading tips

Open long positions from the level of 119.20 with the target at 122.35 and stop-loss at 118.90.

 

http://savepic.net/7610361.png

[LiteForexTeam]

EUR/USD: general review

 

Current trend

Today the pair continued growing despite the publication of mixed data in the eurozone. The Producer Price Index for December fell to -0.8% that was substantially worse than forecasts of economists. At the same time, the Unemployment Rate slightly fell as well, from 10.5% to 10.4%. Therefore, continuous decline in prices could force the ECB to expand its stimulation program or cut interest rates further, either of which would significantly pressure the Euro.

 

Support and resistance

Support levels: 1.0894.

Resistance levels: 1.0943.

 

Trading tips

Short positions can be opened from the level of 1.0943 with the target at 1.0890 and stop-loss at 1.0955.

 

http://savepic.net/7725454.png

[LiteForexTeam]

AUD/USD: pair resumed fall

 

Current trend

Yesterday the pair significantly fell after the RBA decision on interest rates. As was expected, the regulator left the rate unchanged at 2%.

At the same time, in its Rate Statement the regulator noted that it does not rule out further monetary policy easing this year if the economy continues slowing down due to the outside factors. It also noted that inflation is likely to remain very low in the medium-term.

 

Support and resistance

Bollinger Bands on the daily chart is moving up while the price range is narrowing. MACD is turning down and forming a sell signal. Stochastic is falling.

The indicators recommend short positions.

Support levels: 0.7015 (local low), 0.6981, 0.6936, 0.6900 (21 January low), 0.6875, 0.6850, 0.6826 (15 January low).

Resistance levels: 0.7045 (local high), 0.7068, 0.7100, 0.7128 (local high), 0.7158, 0.7183, 0.7200 (5 January high).

 

Trading tips

Short positions can be opened after the breakdown of the level of 0.7015 with the target at 0.6900 and stop-loss at 0.7060. Validity – 2-3 days.

Long positions can be opened after the price rebound from the level of 0.7015 (with the appropriate indicators signals) with the target at 0.7100 and stop-loss at 0.6960. Validity – 2-3 days.

 

Analytics from LiteForex

 

http://savepic.net/7691702.png

http://savepic.net/7688630.png

[LiteForexTeam]

USD/CAD: pair is falling

 

Current trend

Yesterday the pair significantly declined amid growing oil prices that were supported by strong data on the Caixin China Services PMI.

In addition, the pair was pressured by mixed data from the US. The ADP Employment Change for January came out at 205 thousands that was better than forecasts but substantially worse than the previous figure. The Markit Services PMI for January fell from 53.7 to 53.2 points, which did not match the expectations.

Tomorrow attention needs to be paid to labour market data from the US and Canada.

 

Support and resistance

Bollinger Bands on the daily chart is moving down while the price range is slowly widening. MACD continues growing. Stochastic is in the oversold zone and trying to turn up.

The indicators recommend waiting for clearer trading signals.

Support levels: 1.3780 (local low), 1.3700, 1.3650, 1.3622 (10 December 2015 low), 1.3554, 1.3500.

Resistance levels: 1.3850 (local high), 1.3900, 1.3947, 1.4000 (psychologically important level), 1.4050, 1.4100 (local high), 1.4169, 1.4200, 1.4325 (26 January high).

 

Trading tips

Long positions can be opened after the breakout of the level of 1.3780 with the target at 1.4000 and stop-loss at 1.3700. Validity – 2-3 days.

Short positions can be opened after the breakdown of the level of 1.3700 with targets at 1.3550, 1.3500 and stop-loss at 1.3760. Validity – 2-3 days.

 

http://savepic.net/7699725.png

http://savepic.net/7697677.png

[LiteForexTeam]

USD/CHF: Franc continues growing

 

Current trend

Last week the pair significantly fell.

The pair was pressured by the latest Fed monetary policy meeting that substantially decreased chances of further interest rate hikes in the US. In addition, the USD was pressured by poor data on the Nonfarm Payrolls that fell from 262 to 151 thousands, while economists predicted 190 thousands. However, the Unemployment Rate unexpectedly fell by 0.1% to 4.9%, while Average Hourly Earnings grew by 0.5%.

 

Support and resistance

Bollinger Bands on the daily chart is turning down while the price range is widening. At the same time, the indicator formed a signal for correctional growth as the price has left the range. MACD is falling and giving a strong sell signal. Stochastic is in the oversold zone and turning horizontally.

The indicators recommend waiting for clearer trading signals.

Support levels: 0.9920 (local low), 0.9900, 0.9879 (11 January low), 0.9851 (24 December low), 0.9818, 0.9800, 0.9784 (14 December low).

Resistance levels: 0.9956 (local high), 1.0000 (psychologically important level), 1.0032, 1.0067, 1.0100, 1.0123 (3 February high), 1.0166, 1.0200, 1.0254 (29 January high), 1.0281.

 

Trading tips

Long positions can be opened after the breakout and consolidation above the level of 1.0000 (with the appropriate indicators signals) with the target at 1.0100 and stop-loss at 0.9960. Validity – 2-4 days.

Short positions can be opened after the price rebound from the level of 1.0000 with the target at 0.9900 and stop-loss at 1.0050. Validity – 2-3 days.

 

http://savepic.net/7673931.png

http://savepic.net/7728202.png

[LiteForexTeam]

EUR/USD: general analysis

 

Current trend

 

The European currency was strengthening against the US Dollar. The pair gained support from Iran’s decision to replace the US Dollar with the Euro in its oil sales. Moreover, Teheran has required buyers of its oil to pay their debts in euros as well. Thus, India, which owes about $6 billion, has already reached an agreement on this issue with Iran. In this situation, the demand for the Euro might increase, and the currency is likely to continue strengthening.

 

Support and resistance

 

Support level: 1.1105.

Resistance level: 1.1246.

 

Trading tips

 

Long positions can be opened from the level of 1.1246 with the target at 1.1370 and stop-loss at 1.1200.

 

http://savepic.net/7704454.png

[LiteForexTeam]

EUR/USD: general analysis

 

Current trend

 

The EUR/USD pair is trading near the important resistance level of 1.1230 (4/8 Murrey), after the breakdown of which, the pair continues declining to 1.1060 (MA200).

 

The European currency is under pressure from concerns about future of Deutsche Bank. The bank owns a capital of about $60 billion and has about $75 trillion in derivatives, so the bank’s debt is incredibly high. Thus, one of Germany’s largest and systematically important banks might repeat Lehman Brothers’s fate. ECB is likely to support such a large bank, but panics might trigger another fall in the European currency and European indices.

 

Support and resistance

 

Support level: 1.1230.

Resistance level: 1.1353.

 

Trading tips

 

Short positions can be opened from the level of 1.1230 with the target at 1.1108 and stop-loss at 1.1250.

 

http://savepic.net/7701472.png

[LiteForexTeam]

AUD/USD: technical analysis

 

Current trend

 

This week, the AUD/USD pair was falling and reached its three week low at 0.6972. However, a correction started, the level of 0.7078, where the middle MA of Bollinger Bands and the 38.2% Fibonacci correction have concentrated, was broken out. At present, the pair is likely to strengthen to 0.7136 (23.6% Fibonacci correction) and 0.7160 (upper MA of Bollinger Bands). At the same time, the Head and Shoulders pattern seems to be forming that indicates a possibility of a fall from 0.7136 and 0.7160 to 0.7032 (50.0% correction), 0.6986 (61.8% correction) and 0.6937.

 

Support and resistance

 

Technical indicators are giving mixed signals. Bollinger Bands are turning down, limiting a growth in the pair. MACD histogram is about to enter the positive zone and form a buy signal. Stochastic lines have started turning down near the overbought zone.

 

Support levels: 0.7078, 0.7032, 0.6986, 0.6937.

Resistance levels: 0.7136, 0.7160, 0.7229, 0.7300.

 

Trading tips

 

Short positions are preferable but can be opened below the level of 0.7078 with targets at 0.7032, 0.6986 and stop-loss at 0.7110.

Long positions would become valid in case of the consolidation above the level of 0.7160 with targets at 0.7229, 0.7300 and stop-loss at 0.7130.

 

http://savepic.net/7724031.png

[LiteForexTeam]

Brent: analysis and forecast

 

Current trend

 

Since the beginning of the week, the price of Brent crude oil has been gradually falling. Yesterday, the Energy Information Administration reported a decline by 754K barrels in US crude oil stocks; however, the price of oil did not manage to get any support. Despite a general decline in US crude inventories, investors were disappointed by the news about an increase at the country’s biggest oil storage hub in Cushing. According to the statistics, Cushing stocks rose by 0.5 million barrels to 64.7 million barrels that put the price of oil under more pressure.

 

Support and resistance

 

On the 4-hour chart, Bollinger Bands are directed down. MACD histogram is in the negative zone, its volumes are growing. According to the indicators, the price will continue moving down.

 

Support levels: 30.20, 29.20, 28.20.

Resistance levels: 31.84, 32.30, 32.90, 33.90.

 

Trading tips

 

Short positions can be opened after the breakdown of the level of 30.20 with the target at 29.20. If the price breaks down and consolidates below the level of 29.20, the next target will be 28.20.

 

Long positions can be opened after the breakout of the level of 31.84 with targets at 32.30, 32.90.

 

http://savepic.net/7706407.png

[LiteForexTeam]

EUR/USD: general review

 

Current trend

 

The pair continues strengthening amid falling stock markets and weakening in the US Dollar. The Dollar was pressured by Fed Chair Janet Yellen testimony before the US Congress, after which the probability of further rate hikes significantly decreased. In addition, the head of the regulator stated that rate cuts remain a possibility if the situation requires this measure. And considering declining major macroeconomic indices and low inflation in the country, and the slowing Chinese economy, a possibility of this scenario exists.

 

Support and resistance

 

Support levels: 1.1224.

Resistance levels: 1.1321.

 

Trading tips

 

Long positions can be opened from the level of 1.1224 with the target at 1.1380 and stop-loss at 1.1185.

 

http://savepic.net/7732092.png

[LiteForexTeam]

XAU/USD: growth will continue

 

Current trend

Since the beginning of this year, the price of gold substantially strengthened.

The price was significantly supported by a crash of the world stock markets that reduced the appetite for risk and forced investors to switch into safe-haven assets, such as gold.

In addition, the price was supported by the weakened US Dollar that remains under pressure due to the significantly lowered probability of further monetary policy tightening in the US this year.

Support and resistance

In the beginning of the month, the price broke out the upper border of a descending channel. In the short-term, a downward correction to the levels of 1174.50, 1153.85 is expected, after which a growth will resume.

Technical indicators suggest a growth continuation in the medium-term. MACD histogram is in the positive zone and its volumes are growing. Ichimoku point out to the growth as well.

Support levels: 1207.65, 1198.70, 1194.00, 1186.85, 1174.05, 1153.85, 1145.10.

Resistance levels: 1213.85, 1224.70, 1235.05, 1242.80, 1257.80, 1264.00.

 

Trading tips

Pending buy orders can be placed at the levels of 1186.85, 1153.85, 1145.10 with the target at 1300.00 and stop-loss at 1120.00.

 

http://savepic.net/7694945.png

[LiteForexTeam]

GBP/USD: triangle has been formed; breakout of the upper border is expected

 

Current trend

 

During several months, the British Pound was falling against the US Dollar. However, at the beginning of February, the GBP/USD pair started growing within a narrow ascending channel and reached the key resistance level of 1.4670. For the last few days, the pair has been trading in a sideways channel and forming a triangle pattern.

 

Today, ahead of the macroeconomic releases, the Pound gained support and strengthened to the upper border of the triangle. However, later on, amid negative data on Consumer Price Index and Retail Price Index, released in the UK, the pair fell to the lower border. Key statistics for the UK and the US which might influence dynamics in the pair are due tomorrow and at the end of the trading week.

 

Support and resistance

 

If the lower border of the triangle is broken down, the pair would fall to 1.4180. In case of favorable data on the UK, the price might overcome the upper border and continue growing to 1.4670 and 1.4775.

 

According to technical indicators, the pair is likely to keep moving up. The price reached the middle MA of Bollinger Bands. MACD shows that volumes of short positions are falling.

 

Support levels: 1.4425, 1.4335, 1.4285, 1.4180, 1.4100, 1.4050, 1.3970.

Resistance levels: 1.4510, 1.4565, 1.4600, 1.4670, 1.4740, 1.4775, 1.4915, 1.5020.

 

Trading tips

 

Pending sell orders can be placed at the level of 1.4390 with the target at 1.4290 and stop-loss at 1.4420.

Pending buy orders can be placed at the level of 1.4530 with the target at 1.4630 and stop-loss at 1.4500.

 

http://savepic.net/7758270.png

[LiteForexTeam]

Brent: general analysis

 

Current trend

 

Top oil producers – Russia, Qatar, Saudi Arabia and Venezuela – have agreed to freeze oil output at 11 January level. This decision might help to tackle an oversupply of the global oil market. Thus, the price of oil has its chance to strengthen to $40 per barrel. However, at the same time, there is a lack of clear understanding of how long the agreement will last and whether the countries will strictly follow all its conditions.

 

Support and resistance

 

The price is trading slightly below the MA200.

The nearest support level is at 32.00.

The nearest resistance level is at 32.50.

 

Trading tips

 

Short positions can be opened from the level of 32.00 with the target at 30.47 and stop-loss at 32.20.

 

http://savepic.net/7753186.png

[LiteForexTeam]

AUD/JPY: Australian Dollar resumed growth

 

Current trend

 

Yesterday the pair strengthened amid growing prices for commodities.

Supportive news that hit the markets yesterday were that Iran agreed to the proposal by few OPEC member-countries to freeze current output levels of oil. The country, however, did not specify the dates when restrictions will come into effect.

At the same time, the Yen remains under pressure after the last week’s rally as investors are worrying that the Bank of Japan may intervene in the market should the Yen continues strengthening.

 

Support and resistance

 

Bollinger Bands on the daily chart is moving down while the price range is narrowing. MACD is growing and giving a quite strong buy signal. Stochastic reached the overbought zone and trying to turn down.

The indicators recommend waiting for clearer trading signals.

Support levels: 81.00 (local low), 80.34 (local low), 80.00, 79.20, 77.57 (11 February low).

Resistance levels: 82.06 (local high), 82.41 (16 February high), 83.00, 83.62, 84.46, 85.00 (4 February high), 85.69, 86.00, 86.35 (29 January high).

 

Trading tips

Long positions can be opened after the price consolidation above the level of 82.06 (with the appropriate indicators signals) with targets at 83.50, 84.50, 85.00 and stop-loss at 81.00. Validity – 2-4 days.

Short positions can be opened after the breakdown of the level of 80.34 with targets at 78.00, 77.50 and stop-loss at 81.00. Validity – 2-4 days.

 

http://savepic.net/7768380.png

http://savepic.net/7767356.png

[LiteForexTeam]

AUD/USD: analysis and forecast

 

Current trend

 

During the Asian session, the AUD/USD pair fell to the level of 0.7100. The Australia Dollar was losing its positions after RBA board member John Edwards stated the national currency is too strong. In his opinion, a more comfortable level for the AUD/USD pair would be 0.6500.

 

The Australian currency came under pressure amid the publication of labour market report. In January, Unemployment Rate in Australia was slightly up to 6.0% from 5.8%; Employment Change fell by 7.9K while analysts forecasted a 15K rise.

Today, attention needs to be paid to data on inflation in the US. Consumer Price Index is expected to remain unchanged. In case of a growth in the indicator, the USD might strengthen.

 

Support and resistance

 

At present, the pair is trying to break down the level of 0.7100. The Bulls are getting less active.

Support levels: 0.7100, 0.7050, 0.7000.

Resistance levels: 0.7240, 0.7180, 0.7140.

 

Trading tips

 

Short positions can be opened below the level of 0.7090 with targets at 0.7050, 0.7000 and stop-loss at 0.7110.

Long positions can be opened from the level of 0.7140 with the target at 0.7200 and stop-loss at 0.7110.

 

http://savepic.net/7755125.png

[LiteForexTeam]

EUR/JPY: pair remains under pressure

 

Current trend

 

The European currency is losing positions against the Japanese Yen amid a very low appetite for risk. On Wednesday, the pair reached its lows since April 2013, having fallen to the level of 122.45.

The Euro came under moderate pressure from recent macroeconomic data. In particular, France’s Consumer Confidence fell to 95 in February from 97 that is the lowest reading for the last six months.

At the same time, Japan’s statistics did not manage to support the national currency. Thus, Coincident Index was down to 110.9 points in December from 111.9 points.

 

Support and resistance

 

Bollinger Bands indicator on the daily chart is directed down. The price range tends to narrow down reflecting correctional dynamics in the pair. MACD has started growing but is still keeping a sell signal. Stochastic is in the oversold zone and trying to turn up indicating an upward correction in the pair.

The indicators recommend waiting for clearer trading signals.

Support levels: 123.57, 123.06 (23 February low), 122.45 (24 February low).

Resistance levels: 124.22, 125.00, 125.77, 126.16, 126.62 (18 February level), 127.30, 128.17 (16 February high), 128.75, 129.13.

 

Trading tips

 

Long positions can be opened after the consolidation above the level of 125.00 with targets at 126.60, 127.00 and stop-loss at 124.20. Validity – 2-3 days.

Short positions can be opened if the price turns down at the level of 125.00 with the target at 122.45 and stop-loss at 125.50. Validity – 2-3 days.

 

http://savepic.net/7734108.png

http://savepic.net/7740252.png

[LiteForexTeam]

GBP/USD: general review

 

Current trend

 

The pair continues trading in a downward trend having lost around 2% of the value since the beginning of the year.

 

The Pound is substantially pressured by the possibility of a British exit from the European Union. The pressure was magnified because of the statements by the number of UK’s politicians who supported the decision to leave the EU. Current situation is likely to last until 23 June when the referendum on the matter is due in the UK.

 

In addition, the pair is pressured by significantly lowered probability of monetary policy tightening in the UK due to weak macroeconomic statistics that come out in the country lately.

 

Support and resistance

 

The nearest support level is at 1.3876.

The nearest resistance level is at 1.4059.

 

Trading tips

 

Short positions can be opened from the level of 1.4059 with the target at 1.3876 and stop-loss at 1.4100.

 

http://savepic.net/7763624.png

[LiteForexTeam]

GBP/USD: general review

 

Current trend

Last week the pair significantly fell having lost around 400 points and reached its March 2009 lows.

The pair was substantially pressured by strong data from the US on the GDP for the fourth quarter of 2015 and Personal Consumption Expenditure – Price Index. Furthermore, UK’s data on the Total Business Investment and Consumer Confidence came out worse than expectations, which added to the pressure on the pair.

Today attention needs to be paid to data on Pending Home Sales for January from the US.

 

Support and resistance

On the 4-hour chart, the pair is trading near the lower MA of Bollinger Bands. Moving averages with 50, 100 and 144 periods remain above the price and directed down. MACD histogram is in the negative zone and its volumes are barely changing. ADX indicates a fall in the price, while DI lines are crossing each other and heading in opposite directions.

Support levels: 1.3841.

Resistance levels: 1.3878, 1.3923, 1.3965, 1.4025, 1.4070, 1.4107.

 

Trading tips

Short positions can be opened from the level of 1.3840 with targets at 1.3800, 1.3760 and stop-loss at 1.3870. Validity – 1-2 days.

Long positons can be opened from the level of 1.3920 with the target at 1.3960 and stop-loss at 1.3900. Validity- 1-2 days.

 

http://savepic.net/7804299.png

[LiteForexTeam]

XAG/USD: growth resumed

 

Current trend

On Monday, the price of silver grew slightly, having moved up from its recent lows reached at the end of the previous week. Presently, the price is growing within an upward correction, but analysts keep positive outlook. Negative dynamics in stock markets and not so strong positions of the US currency allow prices of commodity assets to grow.

In particular, Chicago purchasing managers' index was down to 47.6 points in February from 55.6 points, while analysts forecasted a decline to only 53.0 points.

 

Support and resistance

Bollinger Bands indicator on the daily chart is turning down while the price range is narrowing down again. MACD keeps its strong upward trend. Stochastic has reached the border of the oversold zone and is trying to turn horizontally.

The indicators recommend waiting for clearer trading signals.

Support levels: 14.78, 14.60 (29 February low), 14.48, 14.40, 14.30, 14.18, 14.00 (22 January low), 13.90.

Resistance levels: 14.92, 15.07, 15.15, 15.29, 15.44, 15.57 (24 February high), 15.84, 16.00, 16.10, 16.34.

 

Trading tips

Long positions can be opened if the price breaks out the levels of 15.00, 15.07 (with appropriate indicator signals) with targets at 15.44, 15.57, 15.84 and stop-loss at 14.75. Validity – 2-4 days.

Short positions can be opened if the price turns down near the level of 15.00 with the target at 14.60 stop-loss at 15.30, 15.40. Validity – 2-3 days.

 

http://savepic.net/7858637.png

http://savepic.net/7857613.png

[LiteForexTeam]

AUD/USD: pair is growing

 

Current trend

Since the beginning of the week, the pair is growing amid positive commentaries by RBA Governor Glenn Stevens. According to the head of the regulator, the Australian economy is likely to be on the rise at present. Furthermore, inflation in the country remains near its targets thus allowing for additional stimulation measures should they be required.

The pair was also supported by strong GDP data for the fourth quarter of 2015 from Australia. The index showed a 3.0% growth, which was significantly better than expectations.

 

Support and resistance

Bollinger Bands on the daily chart is moving up while the price range remains unchanged. MACD resumed its growth and formed a buy signal. Stochastic is growing as it bounced off the oversold zone.

The indicators recommend long positions.

Support levels: 0.7200 (local low), 0.7186, 0.7158, 0.7128, 0.7100, 0.7068 (19 February low), 0.7045, 0.7000, 0.6973 (9 February low).

Resistance levels: 0.7242 (local high), 0.7258 (23 February high), 0.7282, 0.7300, 0.7327 (31 December high).

 

Trading tips

Long positions can be opened after the breakout and consolidation above the level of 0.7258 with targets at 0.7300, 0.7350, 0.7400 and stop-loss at 0.7220. Validity – 2-4 days.

Short positions can be opened after the price rebound from the level of 0.7258 with targets at 0.7150, 0.7100 and stop-loss at 0.7300. Validity – 2-4 days.

 

http://savepic.net/7862535.png

http://savepic.net/7860487.png

[LiteForexTeam]

AUD/USD: general review

 

Current trend

The AUD/USD pair continues growing. The pair was supported by strong data from Australia that came out better than forecasts. The Trade Balance deficit shrank to 2.94 billion, while the AiG Performance of Services Index grew to 51.8 points.

Today pair’s dynamics can influenced by data on Initial Jobless Claims and Factory Orders from the US. Tomorrow attention needs to be paid to data on Retail Sales in Australia and the Unemployment Rate in the US.

 

Support and resistance

On the daily chart, the pair is trading near the upper MA of Bollinger Bands. The price remains above the EMA50, EMA100 and EMA144 that are horizontal. MACD histogram is in the positive zone and its volumes are growing. ADX is moving up, while DI lines are crossing each other and heading in opposite directions.

Support levels: 0.7296, 0.7250, 0.7200, 0.7127, 0.7070, 0.7000, 0.6953, 0.6906, 0.6830.

Resistance levels: 0.7340, 0.7380.

 

Trading tips

Long positions can be opened from current prices with targets at 0.7340, 0.7380 and stop-loss at 0.7320. Validity – 1-2 days.

Short positions can be opened from the level of 0.7290 with the target at 0.7250 and stop-loss at 0.7310. Validity – 1-2 days.

 

http://savepic.net/7825770.png

[LiteForexTeam]

USD/CAD: review and forecast

 

Current trend

This week, the USD/CAD pair has been falling like it did in the previous month. At present, the price remains near the level of the beginning of December 2015.

Today, series of macroeconomic publications are due both in the US and Canada. At 3:30 pm (GMT+2) attention needs to be paid to statistics on US labour market, including data on unemployment rate. It is hard to predict what impact these releases will have on the American currency. At the same time, analysts’ forecasts for Canada’s data are generally negative.

 

Support and resistance

According to technical indicators, the pair tends to continue moving down. The price remains between the middle and the lower MAs of Bollinger Bands.

Support levels: 1.3300, 1.3060, 1.2860.

Resistance levels: 1.3540, 1.3700, 1.3900, 1.4070.

 

Trading tips

Short positions can be opened after the price breaks down the level of 1.3300 with the target at 1.3060.

Long positions can be opened above the level of 1.3540 with the target at 1.3700.

 

http://savepic.net/7863465.png

[LiteForexTeam]

USD/JPY: pair trades flat

 

Current trend

The USD/JPY pair ended the previous trading week near the opening levels.

On Friday, the Yen was growing moderately during the morning session supported by the statements of BoJ Governor Haruhiko Kuroda that the central bank is not considering any further cuts in interest rates. More support for the currency came from favorable data on labour cash earning which were up by 0.4% in January after the previous 0.2% growth.

Then, the pair gained back its losses amid US macroeconomic data but did not manage to strengthen further, as the US Dollar came under pressure due to a fall in the indicators of average hourly earnings and average weekly hours.

 

Support and resistance

Bollinger Bands indicator on the daily chart is directed horizontally while the price range is trying to remain within the current borders. MACD is slowing down its growth but is still keeping a relatively strong buy signal. Stochastic has left the overbought zone and moving up-and-down.

The indicators recommend waiting for clearer trading signals.

Support levels: 113.50, 113.00, 112.50, 112.00, 110.97 (11 February low).

Resistance levels: 113.85, 114.54 (2 March high), 115.00, 115.56, 116.00 (8 February level), 116.50, 117.00.

 

Trading tips

Long positions can be opened after the price breaks out and consolidates above the level of 113.85 with targets at 115.00, 115.60 and stop-loss at 113.00. Validity – 2-3 days.

Short positions can be opened if the price breaks down the level of 113.00 with targets at 112.00, 111.50, 111.00 and stop-loss at 113.70. Validity – 2-4 days.

 

http://savepic.net/7842699.png

http://savepic.net/7846795.png

[LiteForexTeam]

USD/JPY: pair shows flat

 

Current trend

 

In the end of last week, the pair significantly grew amid the publication of strong data in the US and the ECB decision to expand its QE program.

At the same time, the Yen remains under pressure prior to the Bank of Japan meeting on monetary policy that is due tomorrow. Investors worry that the regulator can apply fresh measures aimed at limiting growth in the Yen and stimulating inflation growth.

In addition, tomorrow attention needs to be paid to data on Industrial Production in Japan.

 

Support and resistance

 

Bollinger Bands on the daily chart is moving up while the price range significantly narrowed. MACD is growing and giving a quite strong buy signal. Stochastic is growing as well and approaching the overbought zone.

The indicators recommend waiting for clearer trading signals.

Support levels: 113.50 (local low), 113.00, 112.50 (9 and 10 March lows), 112.00, 110.97 (11 February low).

Resistance levels: 114.00 (local high), 114.54 (2 March high), 115.00, 115.56, 116.00, 116.50, 117.00.

 

Trading tips

 

Long positions can be opened after the breakout of the level of 114.00 (with the appropriate indicators signals) with targets at 115.00, 115.56 and stop-loss at 113.50. Validity – 2-4 days.

Short positions can be opened after the price rebound from the level of 114.00 with targets at 113.00, 112.50 and stop-loss at 114.60. Validity – 2-4 days.

 

http://savepic.net/7911825.png

http://savepic.net/7909777.png