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19 Feb 2015, 02:37 UTC+00
When the European market opens, some economic news will be released such as Consumer Confidence, Spanish 10-y Bond Auction, Current Account, ECB Monetary Policy Meeting Accounts, and French CPI m/m.
19 Feb 2015, 02:35 UTC+00
In Asia, Japan will release the BOJ Monthly Report, All Industries Activity m/m, and Trade Balance. The US will also publish a number of economic reports such as Crude Oil Inventories, Natural Gas Storage, CB Leading Index m/m, Philly Fed Manufacturing Index, and Unemployment Claims.
19 Feb 2015, 02:23 UTC+00
On a weekly closing basis, bulls must close above 1217.00. The intraday support is set at 1209.00.
19 Feb 2015, 02:15 UTC+00
EUR/JPY. We recommend fresh buying above 135.80 with the targets at 136.00, 136.25, and 135.65. GBP/JPY. We recommend buying with sl 182.40 with the targets at 183.60, 184.20, and 185.00.
19 Feb 2015, 02:14 UTC+00
This session is bearish for the US dollar, as the FOMC had some dovish words regarding the economy in the United States. On the daily chart, we're currently watching a breakout at the support level of 93.02, which can push the USDX to reach the 93.02 level in the medium term.
19 Feb 2015, 02:14 UTC+00
On the daily chart, the GBP/USD pair had a strong bullish momentum that allowed this pair to touch the resistance level of 1.5491. This is the closest hurdle for the bullish bias of the GBP/USD pair, because the pair is still below the 200 SMA in this time frame.
19 Feb 2015, 02:06 UTC+00
USD/JPY. Bulls can challenge above 119.50 towards 120.00 and 120.50. USD/CAD. We recommend safe buying above 1.2500.
19 Feb 2015, 01:56 UTC+00
EUR/USD. Selling below 1.1380 with the targets at 1.1340, 1.1320, and 1.1280. GBP/USD. The pair favors buying.
18 Feb 2015, 23:03 UTC+00
The northward journey on the Cable has continued in a simple manner – lower highs and higher highs. The desired approach has been to buy on dips. The distribution territory at 1.5450 has been challenged and would be challenged again, for it could be breached to the upside.
Hossam Soliman Ali
18 Feb 2015, 14:17 UTC+00
On today's H4 chart, the metal is still trading between the support level of 16.30 and the resistance level of 16.50 after it has failed to break the resistance level yesterday and bounced from it to take a slightly downward move.
18 Feb 2015, 13:08 UTC+00
The price level of 1.4800 corresponds to the 61.8% Fibonacci level of the recent bearish swing. Around it a DOUBLE-TOP bearish reversal pattern is being expressed. Confirmation of the reversal pattern requires DAILY fixation below the price level of 1.4500, which corresponds to the lower limit of the daily channel as well. If confirmed, Initial projection target would be located around 1.4300 and then 1.4270.
18 Feb 2015, 13:00 UTC+00
Technical analysis and trading recommendations for EUR/JPY for February 18, 2015. The EUR/JPY pair is retracing for now and is seen trading around the levels of 135.50.
18 Feb 2015, 12:48 UTC+00
On February 5 initial bullish breakout above 1.5220 took place. Shortly after, a new DAILY support was established around 1.5170-1.5200 (an ascending bottom, a sign of ongoing bullish momentum). Since then, the GBP/USD pair has been trending upwards within the depicted H4 channel. Persistence of the pair above the recent DAILY support (the price zone of 1.5170-1.5200) applied extensive bullish pressure over the price level of 1.5360 (61.8% Fibonacci level on the H4 chart) which didn't provide enough RESISTANCE. Long-term projection target for the recent bullish breakout above 1.5220 is located around 1.5500-1.5550 where the previous DAILY bottoms are located (DAILY RESISTANCE).
18 Feb 2015, 12:46 UTC+00
Technical analysis and trading recommendations for GBP/CHF for February 18, 2015. The GBP/CHF pair has again raised higher towards the levels of 1.4530/40 taking out stops at the levels of 1.4420.
18 Feb 2015, 12:40 UTC+00
The market looked overbought since bulls have pushed further above the upper limit of both depicted bullish channels as well as the 79.6% Fibonacci level. That is why bearish correction that started off 1.2750 was anticipated in the previous articles. The nearest SUPPORT level to meet the USD/CAD pair is located around 1.2300 (79.6% Fibonacci level). Note that the USD/CAD bulls have been defending the recent INTRADAY SUPPORT around 1.2300 (broken 79.6% Fibonacci Level).
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