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.
Ahsan Aslam
30 Jul 2015, 19:41 UTC+00
USD/JPY Intraday: Bias remains bullish. The US dollar index is currently trading at 97.290, higher than the previous session's high of 97.254. Overnight, the US Federal Reserve expressed satisfaction with solid gains in the labor market. Traders will look for further hints on the Fed's next interest rate move from tonight's US Q2 GDP data. USD/JPY has broken above the 124 mark and is pressing against its immediate upside target at 124.60. All intraday indicators, including the 20- and 50-period intraday MAs and the intraday RSI, are well directed and call for further advance. The second upside target is placed at 124.85 (seen on July 21).
Ahsan Aslam
30 Jul 2015, 19:37 UTC+00
USD/CHF is expected to trade in a higher range. The pair is rebounding above its rising intraday 20-period and 50-period MAs, which act as supports. In addition, the intraday RSI indicator is bullish and calls for further upside. Furthermore, 0.9635 represents a significant key support, which should limit the downside potential. As long as the level of 0.9600 is support, look for further upside to 0.9740. A break above of this level would call for further advance to 0.9770. Only a break below of the key support at 0.9600 would turn the outlook to negative and open a downward path to 0.9545 and even 0.9525.
Petar Jacimoviс
30 Jul 2015, 19:34 UTC+00
Support at the price of $1,083/00 held successful. Be careful when selling since we may expect bullish phase and potential bullish correction.
Ahsan Aslam
30 Jul 2015, 19:28 UTC+00
NZD/USD is expected to trade in a lower range. The pair has broken below a rising trendline (since July 24, 2015) confirming a negative outlook. Furthermore, the 20-period and 50-period intraday MAs are declining and act as resistances. Also, the intraday RSI indicator is below its neutrality area at 50 and lacks upward momentum. As long as 0.6690 holds on the upside, look for further downside to 0.6540 and even 0.65 in extension is expected. Only a break above of 0.6660 would turn the outlook to positive and calls for a technical rebound to 0.6740.
Ahsan Aslam
30 Jul 2015, 19:22 UTC+00
GBP/USD is expected to trade with bullish bias. The pair is consolidating below its 20-period and 50-period intraday MAs. The intraday RSI indicator is below its neutrality area at 50. Nevertheless, a support base has formed around 193.50, which should limit the downside potential. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. As long as 193.50 is not broken, look for a technical rebound towards 194.70 and even 195.20 in extension.
Mohamed Samy
30 Jul 2015, 19:11 UTC+00
Our suggested sell entry around 1.5600 got triggered. It is still trading around entry levels. Early exit should be considered if the current daily candlestick maintains its closure above 1.5600. Note that fixation below the price zone of of 1.5550-1.5500 is mandatory to pursue towards lower bearish targets, initially at 1.5450. On the other hand, a better SELL entry with a lower risk/reward ratio will probably be offered around the price level of 1.5780 (the backside of the broken uptrend).
Mohamed Samy
30 Jul 2015, 19:05 UTC+00
The long-term bullish projection target would be located at the level of 1.3080 if enough bullish support is maintained. Earlier, the signs of a lack of bullish momentum were manifested on the chart. A bearish corrective movement was initiated towards the price levels of 1.2900. However, recent bearish pressure has been applied since yesterday's candlestick recorded a daily low at 1.1860.
Petar Jacimoviс
30 Jul 2015, 18:51 UTC+00
Support at the price of 1.6340 held successfully. Selling EUR/NZD at this stage looks risky. The price is still in the strong tranding range. Watch for potential breakout to confirm further direction.
Harsh Japee
30 Jul 2015, 18:43 UTC+00
Technical analysis and trading recommendations for GBP/USD for July 30, 2015. The GBP/USD pair is seen to be trading around the 1.5600 levels at the moment, facing interim resistance at 1.5700.
Harsh Japee
30 Jul 2015, 18:26 UTC+00
The USD/JPY pair is trading around the level of 124.50/60 now. Watch out for bearish reversal signs.
Harsh Japee
30 Jul 2015, 18:12 UTC+00
The EUR/USD pair is trading around 1.0935 at the moment having retraced from 1.1128.
Michael Becker
30 Jul 2015, 18:12 UTC+00
A quick bearish decline towards 1.5470 and 1.5370 should be expected if 1.5550 gets broken again. On the other hand, the level of 1.5770 (61.8% Fibonacci level) is the next supply level to be watched if bullish fixation above 1.5550 persists in the daily chart. If so, a counter-trend intraday sell entry can be offered at retesting of the level of 1.5770.
Michael Becker
30 Jul 2015, 18:07 UTC+00
Evident bullish recovery was expressed last week after hitting the level of 1.0800. Bulls have been trying to bring a bullish corrective movement towards 1.1000 and 1.1100. Earlier, the price level of 1.1100, where the backside of the broken uptrend is located, was being approached. However, significant bearish rejection was expressed around 1.1100. A bearish pullback is currently extending below 1.1000 after the most recent daily candlesticks were expressed (Bearish Engulfing candlestick following a Hanging-Man one).
Azeez Mustapha
30 Jul 2015, 17:52 UTC+00
The EUR/USD pair continues to drop further south, owing to the strength in the USD and weakness in the EUR. Long trades are currently as the price could test the support lines at 1.0900 and 1.0850 this and next week.
Mourad El Keddani
30 Jul 2015, 15:56 UTC+00
The NZD/USD pair has rebounded from the minor resistance at the level of 0.6685, and now it is approaching the first support around the area of 0.6590 in order to test it. Moreover, it should be noted that the level of 0.6590 represents the weekly support. Equally important, the weekly pivot point is coinciding with the ratio of 38.2% Fibonacci retracement levels. Consequently, it will probably start downside movement in this area and recover again. Therefore, it will be a good sign to sell at this spot with the first target at 0.6555 (it should be noted that this level will form the weekly support 2) and continue towards 0.6500 to form the double bottom.
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