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.
10 Feb 2016, 14:08 UTC+00
The area of 0.6700-0.6750 remains a significant resistance zone to be watched for valid sell entries. Recent signs of bearish rejection were shown during last week's consolidations around the same zone. Yesterday, the price failed to consolidate below 0.6570. That's why, another bullish pullback is currently taking place towards 0.6700. A bearish rejection and a valid SELL entry should be expected this time as well. On the other hand, the nearest support zone for the NZD/USD pair is located at 0.6540-0.6500 levels where price reaction should be watched for a possible buy entry.
10 Feb 2016, 13:50 UTC+00
Recent bullish recovery was manifested around the level of 1.3750. That is why the current bullish pullback is taking place towards 1.4000 again. The level of 1.4120 (Fibonacci Expansion 100%) remains a significant key level to be watched for price reactions. It may offer a valid sell entry on the current bullish pullback, which is taking place this week. On the other hand, the price zone of 1.3370-1.3400 remains a significant support zone to be watched for a valid buy entry if enough bearish momentum is maintained below the prominent weekly support (1.4000).
Hossam Soliman Ali
10 Feb 2016, 13:24 UTC+00
Gold price remains stable above the level of 1182.80, which represents the major support base that supports a continuation of the bullish wave in the upcoming period.
Hossam Soliman Ali
10 Feb 2016, 13:20 UTC+00
Silver price has been moving with a bearish bias since yesterday targeting the territory below 15.30, while stochastic enters the oversold levels to form a positive motive, which is likely to assist in resuming the bullish correctional bias.
10 Feb 2016, 13:14 UTC+00
On February 4, the market failed to close above 1.4615. Instead of it, an inverted hammer daily candlestick was expressed. Hence, a bearish pullback took place towards 1.4360 where another valid buy entry was offered yesterday. Later on February 8, the market expressed considerable bullish rejection around 1.4360. This led to the current bullish pullback towards 1.4600 again. Trading Recommendation: As expected in yesterday's article, conservative traders could take a valid buy entry around 1.4360. T/P levels remains located at 1.4500 and 1.4600, while S/L should be advanced to 1.4440 to secure some profits. On the other hand, watch for possible bearish rejection around the level of 1.4600. This price level corresponds to a broken weekly demand level, which is now acting as a strong supply level.
10 Feb 2016, 13:00 UTC+00
Risky traders should consider any signs of bearish rejection around 1.1220-1.1320 to be a sell signal for a counter-trend position. Conservative traders should wait for an obvious bearish closure below 1.1200 as a valid sell signal. Initial T/P level should be located at 1.1100. On the other hand, a low-risky buy entry can be offered if a bearish pullback occurs towards the recently-broken consolidation range near 1.1000 to buy the EUR/USD pair.
10 Feb 2016, 12:07 UTC+00
Bearish corrective phase is in progress. I found support at the level of $1,174.50. If we see strong rejection from our support, this may be a good buying opportunity. A trend is still upward.
10 Feb 2016, 11:46 UTC+00
Strong support at the level of 1.6890 is on the test. Be careful when selling EUR/NZD at this stage and watch for potential buying opportunities. Intraday resistance level is seen at 1.7080.
Mourad El Keddani
10 Feb 2016, 09:36 UTC+00
The NZD/USD pair continues to move upwards from the level of 0.6613. Today, the first support level is currently seen at 0.6613, the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 0.6613, which coincides with the 50% Fibonacci retracement level. This support has been rejected three times confirming the veracity of an uptrend.
Mourad El Keddani
10 Feb 2016, 09:10 UTC+00
Yesterday, the USD/CHF pair dropped sharply from the level of 0.9908 towards 0.9694. Now, the price is set at 0.9737. On the H4 chart, the resistance of USD/CHF pair is seen at the level of 0.9795 and 0.9826. It should be noted that volatility is very high for that the USD/CHF pair is still moving between 0.9694 and 0.9795 in coming hours. Moreover, the price spot of 0.9795/0.9826 remains a significant resistance zone.
10 Feb 2016, 08:39 UTC+00
The USD/JPY pair is under pressure now. Overnight, the US stocks closed slightly lower after a choppy session. Energy shares declined and oil prices plunged again, while materials and health-care shares were the best performers. The Dow Jones Industrial Average edged down 0.1% to 16014, the S&P 500 also slipped 0.1% to 1852, while the Nasdaq Composite was down 0.4% to 4268.
10 Feb 2016, 08:32 UTC+00
USD/CHF is expected to hit the target at 0.9690. The pair accelerated to the downside yesterday and reached a low of 0.9691 (last seen in October). Though it managed to initiate a rebound from the low, the rebound has lost momentum and the first downside target at 0.9690 is in sight again. Below this level, the next support would be found at 0.9620. Intraday technical indicators (20-, 50-period moving average, the relative strength index) point to a continued bearish bias.
10 Feb 2016, 08:25 UTC+00
NZD/USD pair keeps on trading with a bullish bias. The pair stands above its key support at 0.66 and remains on the upside. Meanwhile, the 20-period moving average stays above the 50-period one, and the relative strength index lacks downward momentum. Further upside is therefore expected with the next horizontal resistance and overlap at 0.6685. A breakout above this level would call for further advance towards 0.6720 in extension.
10 Feb 2016, 08:13 UTC+00
GBP/JPY is expected to trade with a bearish bias as the key resistance is seen at 167.35. The pair stays below its key resistance and remains under pressure. The 20-period moving average remains below the 50-period one, while the relative strength index lacks upward momentum. A first target to the downside is therefore seen at 164.55. A breakout below this level would open the way to further weakness toward 164.
10 Feb 2016, 07:33 UTC+00
Following the disappointing Christmas period for the UK retailers the new year kicked off with a strong start. The UK retail spending growth hit the highest level in four month in January according to British Retail Consortium. It rose 3.3% last month compared with the reporting period a year ago, up from a 1.0% gain in December.