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.
3 Jul 2015, 17:18 UTC+00
Risky traders could take a valid sell entry anywhere around 1.5900-1.5930. It is already running in profits now. Note that the price level of 1.5780 remains significant resistance level, which provided valid SELL entries previously on May 15 and recently on June 29. On the other hand, the price level of 1.5555 is considered a prominent DEMAND Level which also corresponds to the depicted uptrend line.
3 Jul 2015, 17:13 UTC+00
Persistence above the level of 1.2400 enhanced a bullish pullback towards 1.2600 (the key level depicted on the chart) where a valid sell entry may be offered. The price zone of 1.2600-1.2650 should be defended by bears (upper limit of the weekly channel as well as a prominent daily resistance). However, we also should note that a daily closure above 1.2650 hinders this bearish scenario for some time.
3 Jul 2015, 17:04 UTC+00
Another re-closure below the level of 1.1150 brought the EUR/USD pair towards 1.1000 again where the uptrend is possible (significant demand). EUR/USD bulls must keep trading above 1.1000, so that further bullish advancement can be achieved. Initial bullish target would be located at 1.1150 and 1.1300 (a prominent supply level to be watched).
3 Jul 2015, 17:03 UTC+00
The price zone of 1.5800-1.5880 remains a significant supply zone for the GBP/USD pair. It offered a valid sell entry last week. S/L should be lowered to 1.5680. All T/P levels were successfully reached. On the other hand, the current price level at 1.5550 constitute a significant demand level for the pair (corresponding to 50% Fibonacci level and a previous prominent top). It should be watched for a valid buy entry if signs of bullish rejection are expressed on the H4 chart. Initial bullish target would be located at 1.5680-1.5700.
3 Jul 2015, 16:29 UTC+00
Rejection from our support level is at the price of $1,165.00. Selling at this stage looks risky. We can observe sideways market. I am waiting for larger activity and stronger price action to confirm further direction.
3 Jul 2015, 16:21 UTC+00
Yesterday's June NFP number was slightly lower than estimated 231,000 and it showed only 223,000 of newly created jobs (254,000 in May). Different situation could be observed in unemployment rate.
3 Jul 2015, 15:58 UTC+00
fter May retail sales data release published last night (-0.1% m/m; 4.1% y/y expected vs. 0.3% m/m; 4.7% y/y reading), the aussie was pushed lower towards the level of 0.7500, the lowest level in 6 years. It was the third day when the currency has been moving downwards and the fuel to the fire was added by even more disappointing iron ore prices drop as well.
3 Jul 2015, 15:39 UTC+00
Daytraders should refrain from trading until next week due to the fundamental factors based on Greek referendum on Sunday.
3 Jul 2015, 15:29 UTC+00
The top for the wave 3 seems to be in place now and the market started a corrective cycle to the downside. The first wave of the cycle has been made and now the top for the wave b purple is in progress. The target for wave b might be the intraday resistance at the level of 1.2580.
3 Jul 2015, 15:18 UTC+00
A test of resistance at the level of 1.6615 is taking place now. Buying EUR/NZD at this stage looks risky. Watch for buying opportunities only above the level of 1.6615. Otherwise, if the price rejects from resistance, we may see bearish phase.
3 Jul 2015, 12:20 UTC+00
GBP/USD is likely to consolidate today after hitting a two-week low of 1.5560 on Thursday. Sterling sentiment is boosted by the stronger-than-expected UK June CIPS / Markit construction PMI of 58.1 (versus forecast 56.5). GBP/USD is also supported by weaker sentiment towards the US dollar (ICE spot dollar index last 96.08 versus 96.32 early Thursday). But GBP/USD upside is limited by sterling sales on buoyant EUR/GBP cross and diminished investor risk appetite.
3 Jul 2015, 12:11 UTC+00
USD/CAD is likely to trade in a lower range today after hitting a near-three-month high of 1.2633 on Thursday. CAD sentiment is boosted by a rise in the Canadaian RBC manufacturing PMI to 51.3 in June from 49.8 in May. USD/CAD is also weighed by weaker sentiment towards the US dollar (ICE spot dollar index last 96.11 versus 96.32 early Thursday). But USD/CAD losses are tempered by lower crude oil prices (Nymex crude hit two-month low $56.40/bbl on Globex this morning; last down 37 cents at $56.56/bbl) and diminished investor risk appetite.
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.
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.
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. .