The Forex analysis section contains experts’ reviews of financial markets, daily online forecasts of currencies dynamics, and analysis of financial markets for a week ahead. Over two dozens of Russian and Western currency strategists share their forecasts for tomorrow and offer their advice on trading. A stream of fresh quality analytical materials on MT5 is one of essential instruments of successful trading.
25 Nov 2015, 20:40 UTC+00
This week, bearish persistence below 1.5030 (important key-level) allows a quick bearish decline towards 1.4950 (previous weekly bottom). On the other hand, a stronger support level is located at 1.4850 (the lower limit of the depicted movement channel). This is where a low-risk buy entry can be offered to conservative traders.
25 Nov 2015, 20:28 UTC+00
Another bullish visit to the level of 1.3270 (FE 100%) was initiated on November 4. A bullish breakout above 1.3300 was performed again on November 13 . Daily persistence above 1.3300 exposed the next resistance level at 1.3450 (Fibonacci Expansion 141.0%) where a valid sell entry could be offered. On the other hand, bearish breakdown below 1.3300 (FE 100%) enhances the bearish side of the market once again.
25 Nov 2015, 20:02 UTC+00
The key level of 1.5200 was temporarily breached to the upside last week until a daily bearish engulfing candlestick was expressed on Friday. Note that bearish persistence below 1.5200 and 1.5050 (previous weekly bottom) enhances further bearish decline towards the weekly demand level at 1.4960.
25 Nov 2015, 19:56 UTC+00
This week, daily persistence below the level of 1.0700 (key level) ensures enough bearish momentum towards 1.0650 and 1.0550 (prominent monthly low) where price actions should be watched. A daily breakdown of the monthly demand level at 1.0550 is needed to expose lower bearish targets at 1.0460 and 1.0300.
25 Nov 2015, 18:16 UTC+00
Ahead of the Thanksgiving bank holiday, attention will be firmly on the US on Wednesday, as we get a huge amount of important economic indicators that should offer crucial insight into the health of the US economy. Unemployment claims (exp. 273k; 271k prior) and durable goods orders (exp. 1.6% m/m; -1.2% prior) will be the most important reports as the Fed is looking at the data. The figures can and will influence its decision to either raise rates or hold off until early next year and a number of the indicators will be released today.
25 Nov 2015, 18:05 UTC+00
In his live speech in the House of Commons, UK Chancellor George Osborne said he wants to create "economic and national security" for the UK. He said public debt forecast revised down to 82.5% of GDP in 2015 from 83.6% in the July forecast and confirmed that the UK will meet NATO defense spending target of 2% of GDP. Moreover, he announced controversial cuts to tax credits in major U-turn for government today. The UK economy is still faces huge challenges and the weakness of the eurozone remains a problem.
Mourad El Keddani
25 Nov 2015, 17:49 UTC+00
The USD/CAD pair rebounded at the level of 1.3249 again, and it showed signs of strength following the level of 1.3249 for several days. Additionally, the resistance was broken and turned into support at the same key level (1.3249). Moreover, we expect a range between the levels of 1.3249 and 1.3354. Equally important, the price is set above the support from the last week. Consequently, the pair has already formed a strong support at 1.3249.
Mourad El Keddani
25 Nov 2015, 17:15 UTC+00
The AUD/USD pair rose from the strong level of 0.7198 and extended further to as high as 0.7250 yesterday. Equally important, the support is found at 0.7200, because this level has also formed a double bottom at the level of 0.7198. Additionally, it also should be noticed that the AUD/USD pair was trading in a range of 95 pips.
25 Nov 2015, 16:32 UTC+00
The three-wave down movement looks completed now and any breakout above the level of 1.3334 will be regarded as bullish. There is still one more missing wave to the upside to complete the main count. The market is still trading inside the overall bullish zone.
25 Nov 2015, 16:24 UTC+00
As anticipated yesterday, the intraday resistance at the level of 13078 has not been broken and the market has made another wave down to complete the wave 5 purple of the ending diagonal structure. The current projected target for wave 5 purple is at the level of 129.50 and a rebound from this level is currently expected.
25 Nov 2015, 16:15 UTC+00
USD/JPY is expected to trade with a bullish bias. The US stock indices managed to close higher overnight after logging losses earlier in the session, after reports said a Russian jet was downed by Turkey near the Syrian border. The Dow Jones Industrial Average edged up 0.1% to 17812, the S&P 500 gained 0.1% to 2089, and the Nasdaq Composite was broadly flat at 5102. Nymex crude oil surged 2.7% to $42.87 a barrel, and gold rebounded 0.6% to $1075 a troy ounce. Meanwhile, the benchmark 10-year Treasury yield settled at 2.243%, down from 2.250% in the previous session.
25 Nov 2015, 16:05 UTC+00
USD/CHF is expected to trade in a higher range as Bias remains bullish. The pair is well supported by its rising 50-periodd moving average, and is posting further rebound. The intraday relative strength index is positively oriented. Further upside is therefore expected with the next horizontal resistance and overlap set at 1.0250 at first. A break above this level would call for a further advance towards 1.0280 in extension.
25 Nov 2015, 16:00 UTC+00
NZD/USD is expect to reach 0.6605. The pair is trading above the rising 20- and 50-period moving averages, which are providing support and maintaining the bullish bias. The relative strength index is bullish and calls for further upside. As long as 0.6530 holds as the key support, the pair is likely to challenge its next resistance at 0.6605. A breakout above this level would call for a further advance toward 0.6640.
25 Nov 2015, 15:55 UTC+00
GBP/JPY is expected to trade in a higher range as downside movements prevail. The pair remains being capped by its declining 50-period intraday moving average on the downside. Meanwhile, the intraday relative strength index lacks upward momentum. The first downside target is therefore set at the horizontal support and overlap at 184.30. A breakout below this level would open the way to further weakness toward 183.85.
25 Nov 2015, 15:16 UTC+00
The 22-day support at the level of 1.6150 is on the test. The trend is downward. So, watch for potential selling opportunities if the price breaks the major support at 1.6150 in a high volume.