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.
Alexandros Yfantis
3 Jul 2015, 12:06 UTC+00
The US Dollar Index remains in an uptrend for a short term. We see some signs of short-term reversal to pull back. The price is also below the important weekly resistance at 97, but as long as we hold above 94.50, bulls are in control. However, we should note that there is increased risk of a gap down on Monday in case a yes vote wins at the Greek referendum as the EURUSD is the main component of the Index.
Alexandros Yfantis
3 Jul 2015, 11:58 UTC+00
Gold price has broken below the lower triangle boundary and has given an important sell signal. Today, we can see a back test of this break-down area. A trend remains bearish and so is my longer-term view. Support at $1,130 is the last defense for bulls. If we break below that level, $1,000 will be my target.
Ahsan Aslam
3 Jul 2015, 11:57 UTC+00
USD/CHF is likely to trade in a lower range today. The pair is undermined by weaker dollar sentiment (ICE spot dollar index last 96.09 versus 96.32 early Thursday) and franc demand on a retreating EUR/CHF cross. But USD/CHF losses are tempered by the threat of Swiss National Bank CHF-selling intervention and negative Swiss interest rates. .
Ahsan Aslam
3 Jul 2015, 11:48 UTC+00
NZD/USD is likely to consolidate toda after hitting a five-year low of 0.6659 on Thursday. The price is undermined by lower dairy prices, diminished investor risk appetite, divergent Reserve Bank of New Zealand-Federal Reserve monetary policy stances and kiwi sales on buoyant AUD/NZD cross. But NZD/USD downside is limited by weaker sentiment toward the US dollar (ICE spot dollar index last 96.08 versus 96.32 early Thursday).
Harsh Japee
3 Jul 2015, 10:06 UTC+00
Gold dropped below $1,161.00 yesterday before recovering to the level of $1,170.00.
Harsh Japee
3 Jul 2015, 09:57 UTC+00
Silver tested the level of $15.50 for the third time yesterday before bouncing back.
Harsh Japee
3 Jul 2015, 09:50 UTC+00
The EUR/JPY pair is drifting sideways after having touched the level of 138.00 recently.
Harsh Japee
3 Jul 2015, 09:41 UTC+00
The GBP/CHF pair was pushed through 1.4835 before reversing sharply yesterday.
Joseph Wind
3 Jul 2015, 08:28 UTC+00
he pair is moving towards lower highs and lower lows. The double top was formed at 124.45.
Joseph Wind
3 Jul 2015, 08:27 UTC+00
The loonie is trading higher against the greenback after weak job numbers. The pair paused its 3-day rally at yesterday's session falling by 0.4%. It closed on the lowest point of the day.
Joseph Wind
3 Jul 2015, 08:25 UTC+00
The cable rejected at 100Wema trading below 50Wsma 1.5650. The cable was trading at the 20Dsma 1.5660 and closed below that level. The support is found at 1.5540 on an intraday and weekly basis as well. Bulls tried to close above 1.5650. The 20Wsma is found at 1.5265. The strong support zone is found at 1.5540 and 1.5510. A daily close below these levels opens gates for 1.5460 and 1.5430, and even 1.5270. The previous swing low is seen at 1.5170.
Joseph Wind
3 Jul 2015, 08:23 UTC+00
The max bulls can make is 1.1150 or 1.1180 at today's session. Use raises to sell favoring today's trend.
Joseph Wind
3 Jul 2015, 08:22 UTC+00
AUD was trading at 0.7585 during the Asian session approaching the support zone. The strong support zone is found between 0.7550 and 0.7530 rounded to 0.7500.
Torben Melsted
3 Jul 2015, 08:00 UTC+00
We saw a break above resistance at 1.6587 yesterday, which indicated that more upside pressure should be expected towards 1.7053 and even 1.7154.
Torben Melsted
3 Jul 2015, 07:50 UTC+00
We are going nowhere at the moment, which is clearly showing the ongoing fight between bulls and bears. We continue to be cautious bulls as long as support at 135.85 and more importantly as long as support at 133.07 protects the downside. That said we need a breakout above 138.68 to add renewed upside pressure towards 141.06 on the way higher to 144.03.
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