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.
Mourad El Keddani
2014-10-24 10:52:24 UTC+00 23 hours, 18 min. ago
The GBP/USD pair is still moving between 1.6025 and 1.6122. So, we expect a large range about 97 pips in the future. The breakout seen at the ratio of 50% Fibonacci retracement level (the triple top in H1 chart) for the key level is set at the level of 1.6199 because it represents strong resistance and it coincides with the 50% Fibonacci retracement level and another strong resistance is set at the ratio of 38.2% Fibonacci retracement level around the spot of 1.6122. As it is known, history will probably repeat itself at this level again. Therefore, it will be a good sign to sell below 1.6122 with the first target of 1.6020.
Mourad El Keddani
2014-10-24 10:38:32 UTC+00 23 hours, 31 min. ago
The price of EUR/USD pair is going to move between 1.2630 and 1.2770. The level of 1.2605 is going to form the double bottom in H1 chart. Also, it should be noted that the market was very stable and trend was also quite clear (upward) this week. So, we expect a bullish market today from the area of 1.2603/1.2630. Therefore, buy above the level of 1.2603/1.2630 (these levels are representing the weekly supports) with the first target of 1.2682, it might resume to 1.2750 in coming hours in order to test the weekly resistance one. However, the stop loss should be always be taken into account. Therefore, it will be very useful to set your stop loss at the price of 1.2665 (blow the supports).
2014-10-24 09:21:32 UTC+00 1 day, 48 min. ago
Not much has changed since yesterday as the market is currently in sub-cycle corrective mode and only a clear, sustained breakout below the level of 1.1183 would invalidate the bullish outlook for this pair. The key level resistance still has not been violated and the market is trading inside the golden corrective channel: very overlapping and choppy price action might indicate even more complex corrective cycle in wave 2 purple, but currently there is not much proof of that.
2014-10-24 09:09:22 UTC+00 1 day, 1 hour, 1 min. ago
After an impulsive breakout above the golden channel yesterday the pair is consolidating gains and more upside is being anticipated as it looks like wave -iii- blue might be developing here. The key level to the upside is still the intraday resistance at the level of 137.00 and as long as the intraday supports at the levels of 136.50 and 136.26 will provide the opportunity to buy, more upside is being anticipated here. Moreover, a break above the level of 137.00 is bullish and the level of 137.87 will be tested sooner or later anyway.
2014-10-24 09:03:44 UTC+00 1 day, 1 hour, 6 min. ago
When the European market opens, some economic news will be released such as GfK German Consumer Climate, Italian Retail Sales m/m, EU Economic Summit, and Belgian NBB Business Climate. The U.S. will release the economic data too such as the New Home Sales. So, amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY TECHNICAL LEVELS: Breakout BUY Level: 1.2711. Strong Resistance
2014-10-24 09:03:11 UTC+00 1 day, 1 hour, 7 min. ago
In Asia, Japan will not release any economic events, but the U.S. will release some economic data such as New Home Sales. So, there is a big probability the USD/JPY pair will move with low volatility during the day. TODAY TECHNICAL LEVELS: Resistance. 3
2014-10-24 08:23:10 UTC+00 1 day, 1 hour, 47 min. ago
We have seen a nice impulsive rally from 1.5903, but we still need a break above resistance at 1.6243 to confirm, that red wave (ii) is in place and red wave (iii) higher to 1.6800 is developing.
2014-10-24 08:12:32 UTC+00 1 day, 1 hour, 57 min. ago
It is still not clear whether wave B ended at 137.01 or wave B still needs to move a little higher towards the 137.82 - 137.94 area to end wave B
2014-10-24 08:11:33 UTC+00 1 day, 1 hour, 58 min. ago
The Dollar index remains close to its short-term resistance of 86.20 and as long as it does not break above it, we should be very cautious as the downward correction could unfold into a more complex corrective pattern as labeled in todays post. This alternative scenario could bring the Dollar index towards 84 in order to complete the correction from the highs.
2014-10-24 08:05:05 UTC+00 1 day, 2 hours, 5 min. ago
Gold price remains in a longer-term down trend and today we take another look in the weekly chart that confirms our bearish view of one more final move lower towards $1,050. The short-term trend has reversed as price has broken the support level at $1,240 and is testing $1,230.
2014-10-24 06:32:07 UTC+00 1 day, 3 hours, 38 min. ago
The strength in the USD has made the USD/JPY pair go seriously upwards. This has made long trades logical, and the price could test the supply level at 109.00 today or next week. In addition, some fundamental figures are expected today and they may have some impact on the markets.
2014-10-24 04:48:55 UTC+00 1 day, 5 hours, 21 min. ago
In the daily chart, the USDX continues to strengthen the bullish trend on the way to the resistance level of 86.20. Currently, the USDX remains strong in the bullish trend, due to the fact that the support level of 84.70 has managed to stop the fall in this instrument
2014-10-24 04:48:18 UTC+00 1 day, 5 hours, 22 min. ago
At the H4 chart, GBP/USD has made a rebound on the support level of 1.6004, where currently, this pair is forming a bearish pattern. This is an indication that the GBP/USD could continue the bearish trend for several more days, because that support level is very weak
2014-10-24 02:44:30 UTC+00 1 day, 7 hours, 25 min. ago
Traders can patiently wait for a direction or risky traders can use sl 1.1257 and start selling at the market price.
2014-10-24 02:43:20 UTC+00 1 day, 7 hours, 27 min. ago
The metal has support between $1,228 and $1,226 levels. We recommend fresh selling below $1,226 for targets at $1,222.00 and $1,217.50 levels.