Forex analysis
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.
Michael Becker
27 May 2015, 19:09 UTC+00
Bearish breakout of the depicted bullish channel took place on Friday as a result of the evident bearish pressure that emerged at the level of 1.5660. Persistence below 1.5470 is needed to maintain the current bearish momentum. Initial bearish targets would be located at 1.5250 and probably 1.5100. On the other hand, consolidation above 1.5550 invalidates the current bearish scenario.
Petar Jacimoviс
27 May 2015, 19:03 UTC+00
The key support around the price of 1.4950 held successfully. Be careful when selling EUR/NZD at this stage. We got rejection on the high volume. Strong resistance is at the price of 1.5040. Watch for buying opportunities above the price of 1.5040.
Ahsan Aslam
27 May 2015, 18:48 UTC+00
USD/JPY is expected to consolidate with bullish bias after hitting almost an eight-year high of 123.33 on Tuesday. USD/JPY is supported by the positive dollar sentiment (ICE spot dollar index last 97.24 versus 96.45 early Tuesday) on stronger-than-expected US May CB consumer confidence of 95.4 (versus forecast 95.0), larger-than-expected increase of 6.7% in the US April new home sales to 517,000 (forecast +6.0% to 510,000), and upward revision of the US March durable goods orders from +4.4% to +5.1%. and continued impact from Federal Reserve Chairwoman Yellen's comments that the central bank was on track to raise interest rates this year.
Ahsan Aslam
27 May 2015, 18:40 UTC+00
USD/CHF is expected to consolidate with bullish bias after hitting almost a monthly high of 0.9540 this morning. It is underpinned by positive dollar sentiment, the negative Swiss interest rates, and the threat of the Swiss National Bank to carry out CHF-selling intervention. But USD/CHF gains are tempered by the franc demand on the soft EUR/CHF cross.
Michael Becker
27 May 2015, 18:33 UTC+00
Further bullish advancement was enhanced until bearish pressure was applied around 1.1450 (just below the depicted supply level of 1.1500). This week, a bearish pullback is taking place towards 1.0800 -1.0830 where a valid buy entry can be offered. S/L should be set as daily closure below 1.0770. Note that the price zone of 1.1000-1.1100 is now the nearest SUPPLY zone to meet the EUR/USD pair if enough bullish momentum is developed.
Petar Jacimoviс
27 May 2015, 18:12 UTC+00
We can observe strong bearish pressure on the market. Be careful when buying gold since the price has broken main trading range. Watch for potential selling opportunities after retracement.
Ahsan Aslam
27 May 2015, 18:05 UTC+00
NZD/USD is expected to consolidate with bearish bias after hitting the 2.5-month low of 0.7215 on Tuesday. It is undermined by positive dollar sentiment, soft dairy prices, increased investor risk aversion, and speculation that the RBNZ would cut interest rate in the coming months. But NZD/USD losses are tempered by the NZD-USD interest differential.
Mohamed Samy
27 May 2015, 18:04 UTC+00
A lower high was recently established at 1.5660 on Friday. That is why, intraday support-1 (price zone of 1.5500-1.5450) failed to hold the current bearish momentum. It should be acting as Intraday resistance when further retesting takes place. On the other hand, the price levels around 1.5300 and 1.5150 are now expected to be visited soon. The nearest support zone to meet the pair is located around 1.5080-1.5100. It should be watched for low risk BUY entries.
Ahsan Aslam
27 May 2015, 17:54 UTC+00
GBP/JPY is expected to consolidate with bullish bias. It is undermined by the weak GBP sentiment, increased investor risk aversion, and Japan's exports. But GBP/JPY downside is limited by buoyant USD/JPY undertone and demand from the Japanese importers.
Mohamed Samy
27 May 2015, 17:49 UTC+00
Risky traders could have taken a suggested buy entry anywhere around 1.1950. All T/P levels have already been reached. S/L should be advanced to 1.2240 to offset any associated risk. Conservative traders can take a low-risk sell entry anywhere around 1.2400. S/L should be set as weekly closure above 1.2450. T/P levels should be placed at 1.2220, 1.2100 and 1.1950.
Mourad El Keddani
27 May 2015, 15:03 UTC+00
According to the previous events, the NZD/USD pair has still trapped between the level of 0.7176 and 0.7372 in the daily chart. A strong level (resistance) will be formed at the level of 0.7372 providing a clear signal for sell deals with a target at 0.7176 in order to test the double bottom. Stop loss is to be placed above 0.7401. Strong support is seen at the level of 0.7180 providing a clear signal for buy deals with a target at the level of 0.7280. The weekly resistance will be set at the level of 0.7280. Also, it should be noted that the double top is expected at 0.7372.
Mourad El Keddani
27 May 2015, 14:50 UTC+00
esistance of the AUD/USD pair was set at the level of 0.7773 and the support is found at 0.7682. So, according to the previous events, the AUD/USD pair will be traded between the resistance and the support. As a rule, history will probably repeat itself at this level again. Therefore, we expect a range about 91 pips on May 27, 2015. Accordingly, if the trend fails to close below the level of 0.7773, then it will be a good opportunity to sell below the level of 0.7773 with the first target at 0.77700, then it will be continued straight towards 0.7682 in coming minutes.
Viktor Bajer
27 May 2015, 13:29 UTC+00
EUR/CAD should form a triple top near 1.3750.
Sebastian Seliga
27 May 2015, 12:09 UTC+00
There are two possible scenarios on the intraday chart. Both scenarios depend on the key level violation. The first main count scenario indicates that wave (ii) green is completed and wave i blue is in place. So, the current upside rally is only a minor, internal corrective cycle that should terminate below the intraday resistance at the level of 134.50 and continue lower. On the other hand, alternative count indicates a more complex corrective structure in wave (ii) green and a breakout which is likely to take place above the intraday resistance in order to complete wave c green is of the overall structure. In both scenarios the key level is intraday support at the level of 133.65 because any breakout lower will be considered bearish.
Alexandros Yfantis
27 May 2015, 11:39 UTC+00
The US Dollar Index has made a short-term reversal and is showing signs of an imminent pullback. Bulls managed to reach the 61.8% retracement of the decline from 100 to 93.10 and a small pullback is justified here. The upward move from 93.10 is impulsive and this implies that it is more probable that a new upward move has started.
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