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Forex Analysis Analize forex market trends by using specific method of common analysis. This forum discuss about them in depth.

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  #611  
Old 19-07-2018, 06:26 PM
MikhailLF MikhailLF is offline
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LiteForex analitics. EUR/USD: general analysis

Current trend

Today, the EUR/USD pair falls again, and the instrument is now trading around 1.1620. USD was supported by Fed Chairman Jerome Powell, who spoke on Wednesday before the Financial Services Committee of the US House of Representatives. According to him, Fed’s balance reaches 4.5 trillion dollars, however, the program of bonds redemption confirmed its effectiveness, and there are no reasons to cut back the purchase so far. The normalizing of the balance can take up to four years. As for the key problems of the American economy, Powell noted the growth rates of the national debt, exceeding GDP growth, which had to be stopped. In general, investors remain confident that the US regulator will raise interest rates this year two more times.
June US construction market data prevents USD strengthening. Building Permits decreased by 2.2%, and Housing Starts – by 12.3%.

Support and resistance

Now the price consolidated below the middle line of Bollinger bands and may continue to fall to the levels of 1.1530 (June lows) and 1.1475 (Murrey [–2/8]). The key "bullish" level is 1.1718 (Murrey [0/8]). Its breakout may lead to an increase to the levels of 1.1840 (Murrey [1/8]) and 1.1962 (Murrey [2/8]). Technical indicators do not give a clear signal. Bollinger bands are moving horizontally. MACD histogram is near the zero line, its volumes are insignificant. Approach Stochastic to the oversold zone suggests the possibility of a price reverse upwards.
Support levels: 1.1530, 1.1475.
Resistance levels: 1.1718, 1.1840, 1.1962.

Trading tips

Short positions can be opened at the level 1.1580 with the targets at 1.1530, 1.1475 and stop loss around 1.1620.
Long positions can be opened above the level 1.1718 with the target at 1.1840 and stop loss 1.1680.
Implementation period: 3–5 days.

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  #612  
Old 20-07-2018, 08:50 PM
MikhailLF MikhailLF is offline
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LiteForex analitics. FTSE: Fibonacci analysis

On the H4 chart, the price is testing the level of 7695.0 (50.0%), which could not be overcome within a month. If the price is able to consolidate above it, the growth to the level of 7742.5 (61.8%) is possible. Indicators confirm the strength of buyers, indicating the possibility of further growth. Stochastic and Bollinger Bands are reversing upwards. MACD histogram is in the positive zone.
On the D1 chart, the price reversed in the area of 7477.0 (38.2%), broke out the level of 7625.0 (23.6%) and now is directed to the May highs to the level of 7860.0 (0.0%). The price is moving along the line of the ascending correctional Fibo fan (38.2%). The continuation of the growth of quotations is confirmed by Stochastic, which reversed upwards. The key level for the "bears" seems to be 7625.0 (23.6%, center line of Bollinger Bands). Its breakdown could lead the price to the level of 7550.0 (probable intersection with the line of the ascending correctional Fibo fan 50.0%) and 7477.0 (38.2%). However, the decline scenario is still less likely.

Trading tips

Buy positions may be opened if the price consolidates above 7695.0 with targets at 7742.5, 7800.0. Stop loss should be placed at 7670.0.
Sell positions may be opened below 7625.0 with targets at 7550.0, 7477.0 and stop loss at 7660.00.

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