NewForex — The technical analysis of Forex Market

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05-23-2016, 08:35 PM,
#46
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.

resim

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.

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NewForex Analyst

Joseph Schwartz
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05-24-2016, 08:11 PM,
#47
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.

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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.

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NewForex Analyst

David Fineberg
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05-25-2016, 09:29 PM,
#48
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.

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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.

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NewForex Analyst

Sara Rosenstein
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05-26-2016, 09:00 PM,
#49
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.

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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.

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NewForex Analyst

Michael Butnitsky
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05-27-2016, 05:08 PM,
#50
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.

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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.

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NewForex Analyst

David Fineberg
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05-30-2016, 09:28 PM,
#51
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.

resim

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.

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NewForex Analyst

Luigi Campo
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05-31-2016, 09:24 PM,
#52
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.

resim

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.

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NewForex Analyst

Joseph Schwartz
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06-01-2016, 07:47 PM,
#53
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.

resim

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.

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NewForex Analyst

Luigi Campo
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06-02-2016, 04:33 PM,
#54
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.

resim

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.

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NewForex Analyst

Michael Butnitsky
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06-21-2016, 04:06 PM,
#55
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.

resim

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.

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NewForex Analyst

Michael Butnitsky
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06-22-2016, 05:36 PM,
#56
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.

resim

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.

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NewForex Analyst

Michael Butnitsky
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06-23-2016, 08:23 PM,
#57
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.

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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.

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NewForex Analyst

Luigi Campo
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06-27-2016, 06:28 PM,
#58
Forex News from New Forex: Technical analysis of EUR/USD

On Monday the currency pair trades with a slight price decline in comparison with the previous week, the price remains within the immediate support at 1.0955 and resistance at 1.1071.

Exponential moving averages with the periods 20 and 55 days crossed downwards and decrease today. The MACD-histogram stands in the negative zone and keeps descending. The oscillator Stochastic sends signals in favour of bears.

After the UK’s decision to leave the European Union the position of the euro is quite uncertain which leads to a wide range of the main and strong levels of support and resistance at 1.0755 and 1.1271. Only after the market consolidation above or below these magnitudes we can speak about the formation of a long-term trend.

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NewForex Analyst

Luigi Campo

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

On Monday the currency pair shows some downward trend within the level of support at 1.3325 and resistance at 1.3755. The RSI keeps sliding below its central line. EMA20 and EMA55 crossed downwards and continue to decline.

The MACD-histogram stays in the negative zone and edges down. The oscillator Stochastic is seen in the zone of oversold which might foreshow the start of the correction in the short term. In general the situation is not in favour of bulls, the market consolidated far below the lines of Ichimoku Kinko Hyo. Only in case of breaching the current resistance at 1.3755, there will be a ground for strengthening of bullish positions.

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NewForex Analyst

Luigi Campo
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06-28-2016, 08:10 PM,
#59
Forex News from New Forex: Technical analysis of EUR/USD

On Tuesday the currency pair trades with a slight price rise within the level of support at 1.1016 and tests the immediate resistance at 1.1066. If the pair consolidates below the resistance level, we might see a movement to 1.0860. If the market consolidates above it, the price will jump to 1.1135.

In a 4-hour timeframe we see that moving averages EMA 20 and EMA 55 crossed downwards and keep sliding. The MACD-histogram and the RSI remain below their central lines but rise today. The oscillator Stochastic gains as well approaching the zone of overbought sending signals to buy.

resim

NewForex Analyst

Luigi Campo


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

In the trading on Tuesday the market consolidates within the support level at 1.3153 and resistance at 1.3358. Exponential moving averages with periods 20 and 55 days keep declining, the MACD-histogram remains in the negative zone but has slightly slowed down. The RSI stands below its central line and shows signs of consolidation. The oscillator Stochastic foreshadows the growth of the currency pair in the short run.

As for long-term prospects, the market stands below the lines of Ichimoku Kinko Hyo which implies the further continuation of consolidation. If the pound sterling gets extra support and goes beyond 1.3358, there might be a movement to 1.3550. If the price fixes below the current support level, there might be a movement towards 1.3.

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NewForex Analyst

Luigi Campo
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06-29-2016, 08:07 PM,
#60
Forex News from New Forex: Technical analysis of EUR/USD

During the Asian trading session on Wednesday the single currency trades with a slight rate rise. On Tuesday the euro got support amid the general easing of the US dollar reaching 1.1111 and then bounced off to 1.1060-70, as the result tradings closed with a firm bullish candlestick on the day chart. However, the market could not fix outside yesterday’s support and resistance (1.1016 and 1.1066).

The 14-day RSI remains below its central line, exponential moving averages with periods 20 and 55 days decline without any sign of crossing. The oscillator Stochastic decreases sending signals to sell. The MACD-histogram stands in the negative zone but rises slowly to the positive field.

Thus, in the short run technical characteristics indicate a neutral market sentiment. For the uptrend the price should fix above the yesterday’s high at 1.1111. For the downtrend it should breach the current support at 1.1010 and then at 1.0982.

resim

NewForex Analyst

David Fineberg

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

On Wednesday the pair is quite steady standing within the strong levels of support and resistance at 1.3272 and 1.3493 respectively testing the intermediate resistance at 1.3401.

In the short run the pair will further consolidate. A long-term technical structure is prone to the bearish market sentiment in case of breaching the strong level of support at 1.3119 (a low since June 27).

The MACD-histogram remains in the negative zone but rises. The RSI stands below its central line, the Stochastic sends a signal to sell.

resim

NewForex Analyst

David Fineberg



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