MT5 portal brings to youк attention the daily updated section of forex-analysis. All analytical materials, represented in this section, are prepared by the leading Russian and Western analysts of Forex market. We place qualitative analytical materials, which can undoubtedly provide benefits to every trader.
6 Mar 2015, 20:34 UTC+00
The long-term projection target for the recent bullish breakout was already reached around 1.5550 where the previous DAILY bottoms were located (DAILY RESISTANCE). On Monday, the obvious breakdown of the lower limit of the depicted channel took place. Today, significant bearish pressure was applied over the price levels of 1.5180 and 1.5100 (previous support level and recent uptrend line). A quick bearish visit towards 1.5000 should be anticipated if bears keep defending their newly established RESISTANCE level around 1.5100.
6 Mar 2015, 20:20 UTC+00
The nearest SUPPORT level to meet the USD/CAD pair is located around 1.2300 (79.6% Fibonacci level) that should be defended by the bulls in order to maintain enough bullish momentum. Note that successive lower highs are being established within the wedge-pattern depicted on the DAILY chart. It could be reversal or continuation pattern as further price action indicates. DAILY closure below the price level of 1.2300 exposes the next DAILY SUPPORT around 1.2000 where the backside of the upper limit of the breached channel is located. On the other hand, the bullish persistence above 1.2650 - 1.2680 (recent highs) enhances further bullish advancement towards 1.2780-1.2800 initially.
6 Mar 2015, 19:59 UTC+00
Two weeks ago, the ongoing bearish trend was terminated when a bullish breakout above 1.5200 took place, as depicted on the chart. Since then, the GBP/USD pair has been trending upwards within the depicted bullish channel. Estimated projection targets located around 1.5600-1.5640 have not been reached. Instead, bears put significant pressure around 1.5550 resulting in formation of multiple bearish engulfing daily candlesticks without further retesting of 1.5600. The nearest DEMAND level located around 1.5200-1.5230 (61.8% Fibonacci level and recent consolidation range high) was breached yesterday indicating a strong bearish tendency of the market.
6 Mar 2015, 19:44 UTC+00
Yesterday, evident bearish price action was expressed at the price level of 1.1110 (WEEKLY Low). Clear bearish breakdown directly exposes lower targets initially around 1.0800. In case of bearish persistence below 1.1100 (broken weekly low), estimated long-term projection targets for the FLAG pattern would be located around 1.0800 and 1.0500.
6 Mar 2015, 16:59 UTC+00
Our Fibonacci retracmeent 61.8% is at the price of 1.4650. Be careful when selling at this stage since we may expect reaction from buyers. My advice is to watch for potential buying opportunities.
6 Mar 2015, 16:33 UTC+00
We can see a very huge progress of the bullish bias in the USDX on the daily chart as this instrument is very close to reaching the resistance level of 96.96 in a rally that we expected recently. If the USDX breaks that zone, we could expect a rise to the level of 98.01.
6 Mar 2015, 16:32 UTC+00
During the Thrursday session and early today, GBP/USD broke the important support level of 1.5247. Now, the downside target is placed at the level of 1.5086, where we wait for a rebound for this pair
6 Mar 2015, 16:24 UTC+00
Sideways market is around the price of $1,196.00. We can observe a potential accumulation phase according to the H1 time frame, which is a sign that selling gold at this stage looks risky. My advice is to watch for potential buying opportunities above $1,200.00.
6 Mar 2015, 13:56 UTC+00
The US dollar index remains in a strong bullish upward trend in all time frames. The latest buy signal was given with the breakout of the triangle pattern at 95. We are currently making new 11-year highs above 96 and we have also broken the 50% retracement of the decline from 2001.
6 Mar 2015, 13:47 UTC+00
Gold price is sliding lower towards the critical support of $1,190. There are still chances of a bounce towards $1,235 or even $1,250. In order for this scenario to come true, the price will need to break above $1,213.
6 Mar 2015, 13:23 UTC+00
The current wave progression indicates a more complex and time consuming corrective cycle in wave (ii) green is in its final stages. There is only one wave to the downside missing now and the market should rebound from the golden trend line dynamic support around the level of 1.2403. Only a sustained breakout below the level of 1.2386 would invalidate the bullish outlook.
6 Mar 2015, 13:08 UTC+00
Yesterday's news driven price action has been very violate and the intraday resistance level had been briefly violated before the market reversed to the downside. This kind of price action confirms very choppy and overlapping wave development in the ongoing corrective cycle in wave X brown. The market trades close to the weekly pivot support at the level of 131.96 and a bounce from this area is expected as the upward wave progression has not been completed yet. Please notice the building bullish divergence between the price and momentum oscillator, that supports the view that the bounce/reversal from the current levels is due soon.
6 Mar 2015, 12:14 UTC+00
Technical analysis and trading recommendations for EUR/JPY for March 06, 2015. The EUR/JPY pair made a high at 133.50/60 levels yesterday, before pulling back towards 132.00 handle.
6 Mar 2015, 11:41 UTC+00
The EUR/JPY pair has continued its downtrend. The price traded below the demand zone at 132.50, but it could not stay below it. For the bearish bias to continue, a close below that demand zone is mandatory. Otherwise, we may witness a strong rally today or early next week.
6 Mar 2015, 11:18 UTC+00
Technical analysis and trading recommendations for GBP/CHF for March 06, 2015. The GBP/CHF pair has taken the rising trend line support and rallied through 1.4850 levels, taking stops out at 1.4830.