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  • XAU/USD: Trading Scenarios
    22/11/2018

    Corrective XAU / USD growth continues, as evidenced by the breakdown of short-term resistance levels of 1218.00 (ЕМА200 on 4-hour chart), 1220.00 (ЕМА200 on 1-hour chart).
    Indicators OsMA and Stochastic on the 1-hour, 4-hour, daily charts recommend long positions.
    In case of continued growth, the immediate goal will be the resistance level of 1234.00 (EMA144 on the daily chart).
    Confirmed breakdown of resistance levels of 1243.00 (EMA200 on the daily chart), 1248.00 (Fibonacci level 50% of the correction to the wave of decline since July 2016) will indicate the end of the bearish trend.
    Below resistance levels of 1243.00, 1248.00, short positions are preferable, despite corrective growth; bearish trend remains in force.
    The signal for the resumption of sales will be the breakdown of support levels of 1220.00, 1218.00.
    The targets of declining are support levels of 1197.00 (November lows), 1185.00 (Fibonacci level 23.6%), 1160.00 (minimums of the year).
    *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

    Support Levels: 1220.00, 1218.00, 1200.00, 1197.00, 1185.00, 1160.00
    Resistance Levels: 1234.00, 1243.00, 1248.00, 1261.00, 1277.00

    Trading Scenarios

    Sell ​​Stop 1223.00. Stop Loss 1230.00. Take-Profit 1220.00, 1218.00, 1200.00, 1197.00, 1185.00, 1160.00
    Buy Stop 1230.00. Stop Loss 1223.00. Take-Profit 1234.00, 1243.00, 1248.00, 1261.00, 1277.00



    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

    Comment


    • GBP/USD: Trading Scenarios
      11/23/2018

      Despite the approval on Thursday of the preconditions for a British exit from the EU, the pound remains under pressure. At the same time, the issue of the border of Great Britain with Northern Ireland is not resolved. Now the draft agreement submitted by Prime Minister Theresa May should be approved by the country's parliament. Former Brexit minister Dominic Raab believes parliamentarians will vote against the deal. This will require a repeat vote, which is likely to be scheduled for February next year, and most likely the pound will remain under pressure until this date.
      GBP / USD continues to trade in a descending channel on the daily chart. The main trend is still bearish. Short positions are preferred.
      Below the key resistance levels of 1.3210 (Fibonacci level 23.6% of the correction to the decline of the GBP / USD pair in the wave that started in July 2014 near the level of 1.7200), 1.3180 (ЕМА200 on the daily chart) negative dynamics prevail.
      The signal for the resumption of long positions will be the breakdown of the short-term resistance level of 1.2940 (ЕМА200 on the 4-hour chart). Growth above resistance levels 1.3180, 1.3210 is unlikely.
      The situation around Brexit remains the main negative factor for the pound.
      *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

      Support Levels: 1.2770, 1.2730, 1.2700, 1.2660, 1.2500, 1.2365, 1.2110, 1.2000
      Resistance Levels: 1.2860, 1.2940, 1.3030, 1.3180, 1.3210, 1.3300

      Trading Scenarios

      Sell in the market. Stop Loss 1.2880. Take-Profit 1.2770, 1.2730, 1.2700, 1.2660, 1.2500, 1.2365, 1.2110, 1.2000
      Buy Stop 1.2880. Stop Loss 1.2830. Take-Profit 1.2940, 1.3030, 1.3180, 1.3210, 1.3300



      *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

      Comment


      • GBP/USD: until December 12, the pound will remain under pressure
        11/27/2018
        Current Dynamics
        *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

        Support and Resistance Levels
        GBP / USD continues to trade in a descending channel on the daily chart, the lower limit of which passes near the support level of 1.2600 (lows of June 2017). In case of a breakdown of the nearest support level of 1.2700 (October lows), the GBP / USD will head towards the support level of 1.2600.
        The main trend is still bearish. Below the key resistance levels of 1.3210 (Fibonacci level 23.6% of the correction to the decline of the GBP / USD pair in the wave that started in July 2014 near the level of 1.7200), 1.3170 (ЕМА200 on the daily chart) negative dynamics prevail.
        Short positions are preferred. Until December 12, when the UK parliament will vote on the terms of the Brexit deal, the pound will remain under pressure.
        Support Levels: 1.2700, 1.2600, 1.2500, 1.2365, 1.2110, 1.2000
        Resistance Levels: 1.2838, 1.2920, 1.3030, 1.3170, 1.3210, 1.3300

        Trading Scenarios

        Sell ​​in the market. Stop Loss 1.2840. Take-Profit 1.2700, 1.2660, 1.2600, 1.2500, 1.2365, 1.2110, 1.2000
        Buy Stop 1.2840. Stop Loss 1.2760. Take-Profit 1.2920, 1.3030, 1.3170, 1.3210, 1.3300




        *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

        Comment


        • USD/CHF: Support and Resistance Levels
          30/11/2018

          USD / CHF continues to grow in the ascending channel on the weekly chart, the upper limit of which passes above the resistance level of 1.0130 (2016 highs and Fibonacci level 100% of the upward correction to the last global decline wave since December 2016 and from 1.0300). On Friday, USD / CHF continues to grow, trading above the support level of 0.9945 (ЕМА50 on the daily chart).
          USD / CHF maintains a long-term positive trend, trading above the key support level of 0.9855 (ЕМА200 on the daily chart). Breakdown of the support level of 0.9945 may trigger a correction to the support level of 0.9855.
          However, long positions are preferred. Purchases look safe above 0.9945 support level.
          *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

          Support Levels: 0.9945, 0.9875, 0.9855, 0.9745
          Resistance Levels: 1.0000, 1.0040, 1.0090, 1.0100, 1.0300, 1.0130

          Trading Scenarios

          Buy in the market. Stop Loss 0.9935. Take-Profit 1.0000, 1.0040, 1.0090, 1.0100, 1.0300, 1.0130
          Sell ​​Stop 0.9935. Stop Loss 0.9980. Take-Profit 0.9875, 0.9855, 0.9745


          *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

          Comment


          • AUD/USD: Support and resistance levels
            03/12/2018

            Since the beginning of last month, AUD / USD has been developing an upward trend. Correctional growth allowed AUD / USD to rise to the key resistance level of 0.7380 (ЕМА200 on the daily chart), breaking through the strong resistance level of 0.7320 (ЕМА144 on the daily chart) on Monday with news of the suspension of the US-China trade conflict.
            However, further growth of AUD / USD is unlikely, and a positive impulse can quickly disappear. If an agreement is not reached in 90 days, the United States will raise duties on Chinese goods worth $ 200 billion from 10% to 25%, and the trade conflict between the countries will enter a new round of escalation.
            The most likely - the resumption of declining of the AUD / USD. In this case, the AUD / USD pair is at profitable levels in order to open short positions. Rebounding from the resistance level of 0.7380 and returning to the zone below the support level of 0.7320 will mean the resumption of the long-term bearish trend that began in August 2011. Breakdown of the support level of 0.7320 will resume the decline of AUD / USD with long-term goals at support levels of 0.6910 (lows of September 2015), 0.6830 (2016 lows). Short positions are preferred.
            An alternative scenario assumes continued growth with the maximum goal at the resistance level of 0.7460 (Fibonacci level 23.6% of the correction to the wave of decline in the pair since July 2017 and the level of 0.9500. The minimum of this wave is near the level of 0.6830).
            *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

            Support Levels: 0.7320, 0.7230, 0.7200, 0.7175, 0.7120, 0.7100, 0.7075, 0.7045, 0.7025, 0.6910, 0.6830
            Resistance Levels: 0.7380, 0.7460, 0.7770, 0.7850

            Trading scenarios

            Sell ​​in the market. Stop Loss 0.7410. Take-Profit 0.7320, 0.7230, 0.7200, 0.7175, 0.7120, 0.7100, 0.7075, 0.7045, 0.7025, 0.6910, 0.6830
            Buy Stop 0.7410. Stop Loss 0.7310. Take-Profit 0.7460, 0.7500



            *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

            Comment


            • GBP/USD: the pound strengthened on Tuesday
              12/04/2018
              Current Dynamics
              *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

              Support and Resistance Levels Support Levels: 1.2785, 1.2700, 1.2600, 1.2500, 1.2365, 1.2110, 1.2000
              Resistance Levels: 1.2885, 1.2920, 1.3030, 1.3140, 1.3210, 1.3300

              Trading scenarios

              Sell ​​in the market. Stop Loss 1.2890. Take-Profit 1.2700, 1.2660, 1.2600, 1.2500, 1.2365, 1.2110, 1.2000
              Buy Stop 1.2890. Stop Loss 1.2780. Take-Profit 1.2920, 1.3030, 1.3140, 1.3210, 1.3300, 1.3400, 1.3500, 1.3600, 1.3760



              *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

              Comment


              • USD/CAD: Support and Resistance Levels
                06/12/2018
                *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

                Support Levels: 1.3380, 1.3300, 1.3285, 1.3225, 1.3195, 1.3025, 1.2900, 1.2800, 1.2740, 1.2700
                Resistance Levels: 1.3450, 1.3600, 1.3790

                Trading Scenarios

                Sell ​​Stop 1.3370. Stop-Loss 1.3460. Take-Profit 1.3300, 1.3285, 1.3225, 1.3195, 1.3025
                Buy Stop 1.3460. Stop-Loss 1.3370. Take-Profit 1.3600, 1.3790




                *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

                Comment


                • XAU/USD: Market expectations
                  12/07/2018

                  Against the background of monetary tightening by the Fed since April, gold prices have been in a steady downward trend. In mid-August, the XAU / USD pair reached an annual minimum near the mark of 1160.00, however, then an upward correction began, raising the price of gold to the mark of 1244.00 dollars per troy ounce. Nevertheless, the overall gold trend remains bearish, and the upward correction may end near the reached resistance levels of 1242.00 (ЕМА200 on the daily chart), 1248.00 (Fibonacci level 50% of the correction to the decline wave from July 2016), if the Fed will give clear signals to further tighten its monetary policy.
                  The breakdown of the support level of 1233.00 (EMA144 on the daily chart) will be the beginning of the return of XAU / USD to the bearish trend.
                  The soft rhetoric of statements by Fed officials could provoke a breakdown of the achieved resistance levels and a further growth of the XAU / USD towards resistance levels of 1260.00 (ЕМА200 on the weekly chart and the upper limit of the upward channel on the daily chart), 1277.00 (Fibonacci level 61.8%).
                  We remind you that the publication of key data for the Fed from the US labor market is scheduled for 13:30 (GMT). Predicting the market response to the publication of indicators is often difficult. In any case, when these indicators are published, a surge in volatility is expected in trading not only for USD, but also for the entire financial market. Probably the most cautious investors would prefer to stay out of the market during this time period.
                  Support Levels: 1233.00, 1220.00, 1212.00, 1204.00, 1198.00, 1185.00, 1160.00
                  Resistance Levels: 1242.00, 1248.00, 1260.00, 1277.00
                  *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

                  Trading scenarios

                  Sell ​​Stop 1232.00. Stop Loss 1245.00. Take-Profit 1220.00, 1212.00, 1204.00, 1198.00, 1185.00, 1160.00
                  Buy Stop 1245.00. Stop Loss 1232.00. Take-Profit 1248.00, 1260.00, 1277.00




                  *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

                  Comment


                  • USD/CHF: on the eve of the meeting of the National Bank of Switzerland
                    Current dynamics
                    12/12/2018
                    *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

                    Support and Resistance Levels
                    The USD / CHF pair is trading at the beginning of the American session on Wednesday, near the strong short-term resistance level of 0.9960 (ЕМА200 on the 4-hour chart). Breakdown of this level will strengthen the upward trend prevailing above key support levels of 0.9875 (Fibonacci level 61.8% of the upward correction to the last global decline wave from December 2016 and from 1.0300), 0.9860 (ЕМА200 on the daily chart).
                    As long as USD / CHF is above these key support levels, a long-term uptrend persists and long positions are preferred.
                    An alternative decline scenario may develop after the breakdown of the support level of 0.9860 with the immediate goal at the support level of 0.9745 (ЕМА200 on the weekly chart and the Fibonacci level of 50%).
                    Support levels: 0.9935, 0.9915, 0.9875, 0.9860, 0.9745
                    Resistance Levels: 0.9960, 1.0010, 1.0060, 1.0110

                    Trading Scenarios

                    Buy Stop 0.9970. Stop Loss 0.9930. Take-Profit 1.0010, 1.0060, 1.0110
                    Sell ​​Stop 0.9930. Stop Loss 0.9970. Take-Profit 0.9915, 0.9875, 0.9860, 0.9745, 0.9610, 0.9575


                    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

                    Comment


                    • EUR/USD: Market Expectations
                      12/13/2018

                      On Thursday, the focus of attention of participants in the financial market will be the ECB meeting. The bank is expected to leave rates at current levels at least until the end of the summer of 2019. It is also likely that the ECB will confirm the completion of the asset purchase program at the end of December.
                      The ECB rate decision will be published at 12:45 (GMT), and the ECB press conference will begin at 13:30. If Mario Draghi makes unexpected announcements, then the volatility in euro trading and the financial market will increase significantly. The harsh rhetoric of Mario Draghi on monetary policy prospects will strengthen the euro. Conversely, the soft tone of the ECB statement and the speech of Mario Draghi will have a downward pressure on the euro.
                      Meanwhile, the euro will remain under pressure against the dollar, which is supported by demand from investors amid expectations of further tightening of the Fed's monetary policy.
                      While EUR / USD is trading below the key resistance level of 1.1610 (ЕМА200 on the daily chart), short positions are preferable. The likelihood of further decline in EUR / USD remains. After the breakdown of the support level of 1.1362 (EMA200 on the 1-hour chart) EUR / USD will go to support levels of 1.1310 (December lows), 1.1290 (Fibonacci level of the 23.6% of the correction to the fall from the level of 1.3900, which began in May 2014), 1.1210 (November and year lows).
                      After EUR / USD rises to the zone above the resistance level of 1.1410 (ЕМА50 on the daily chart), further corrective growth is possible to the resistance level of 1.1610.
                      *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

                      Support Levels: 1.1362, 1.1310, 1.1290, 1.1210, 1.1000
                      Resistance Levels: 1.1385, 1.1410, 1.1470, 1.1610, 1.1700, 1.1790

                      Trading recommendations

                      Sell ​​Stop 1.1350. Stop-Loss 1.1420. Take-Profit 1.1310, 1.1290, 1.1210, 1.1000
                      Buy Stop 1.1420. Stop-Loss 1.1350. Take-Profit 1.1470, 1.1610, 1.1700, 1.1790



                      *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

                      Comment


                      • EUR/USD: Eurodollar remains under pressure
                        Current dynamics
                        14/12/2018

                        The Eurodollar remains under pressure after the ECB meeting on Thursday.
                        His head, Mario Draghi, pointed to the risks of the Eurozone economy, which are shifting towards the deterioration of the situation. The ECB confirmed that it will complete the QE program in December. Interest rates will remain unchanged until the summer of 2019.
                        The euro remains under pressure from the worsening domestic political situation in France, the reluctance of the Italian government to more strongly curtail the planned budget deficit, as required by the European Commission, as well as Brexit and uncertainty due to the forthcoming elections to the European Parliament in May.
                        On Friday, the decline of the EUR / USD pair continued after the publication of disappointing macro data from the Eurozone. The EUR / USD pair fell from the opening of the trading day by 0.6% and at the beginning of the American session is trading near the 1.1286 mark, trying to break through the important support level of 1.1290 (Fibonacci level 23.6% of the correction to the fall from the level of 1.3900, which began in May 2014) .
                        Below the key resistance level of 1.1610 (ЕМА200 on the daily chart) negative dynamics prevail. Short positions with targets at support levels of 1.1210 (November and year lows), 1.1000 (bottom line of the downward channel on the daily chart) are still preferred.
                        The signal for the resumption of long positions will be the breakdown of the resistance level of 1.1400 (ЕМА50 and the upper line of the downward channel on the daily chart) with the target at the resistance level of 1.1610.

                        Support Levels: 1.1290, 1.1210, 1.1000
                        Resistance Levels: 1.1310, 1.1360, 1.1385, 1.1400, 1.1470, 1.1610, 1.1700, 1.1790

                        Trading recommendations

                        Sell ​​in the market. Stop-Loss 1.1410. Take-Profit 1.1210, 1.1000
                        Buy Stop 1.1410. Stop Loss 1.1280. Take-Profit 1.1470, 1.1610, 1.1700, 1.1790



                        Comment


                        • GBP/USD: Support and Resistance Levels
                          17/12/2018

                          After another sharp fall in mid-April since early May, GBP / USD continues to trade in a downward channel on a weekly chart, the lower limit of which passes near the support level of 1.1700. In the event of a breakdown of the nearest support level of 1.2600 (lows of June 2017), GBP / USD will head towards the support level of 1.2485 (minimums of the year). The main trend is still bearish. Below the key resistance levels of 1.3215 (Fibonacci level 23.6% of the correction to the decline of the GBP / USD pair in a wave that began in July 2014 near the level of 1.7200), 1.3095 (ЕМА200 on the daily chart) negative dynamics prevail. Short positions are preferred.
                          The signal for growth will be the breakdown of the short-term resistance level of 1.2642 (ЕМА200 on the 1-hour chart, ЕМА50 on the 4-hour chart). The immediate goal of growth is resistance levels of 1.2780 (ЕМА200 on the 4-hour chart), 1.2820 (ЕМА50 on the daily chart).
                          With favorable developments, corrective growth of GBP / USD may continue to resistance levels 1.3095 (ЕМА200 on the daily chart), 1.3215.
                          *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

                          Support Levels: 1.2600, 1.2500, 1.2485, 1.2365, 1.2110, 1.2000
                          Resistance Levels: 1.2670, 1.2700, 1.2780, 1.2820, 1.2900, 1.3000, 1.3095, 1.3215

                          Trading Scenarios

                          Sell ​​in the market. Stop Loss 1.2650. Take-Profit 1.2500, 1.2485, 1.2365, 1.2110, 1.2000
                          Buy Stop 1.2680. Stop Loss 1.2580. Take-Profit 1.2700, 1.2780, 1.2820, 1.2900, 1.3000, 1.3095, 1.3215



                          *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

                          Comment


                          • XAU/USD: Market expectations
                            18/12/2018

                            Against the background of monetary tightening by the Fed since April, gold prices have been in a steady downward trend. In mid-August, the XAU / USD pair reached an annual minimum near the mark of 1160.00, however, then an upward correction began, raising gold prices to the current mark of 1249.00 dollars per troy ounce. Nevertheless, the overall gold trend remains bearish, and the upward correction may end near the reached resistance levels of 1242.00 (ЕМА200 on the daily chart), 1248.00 (Fibonacci level 50% of the correction to the decline wave from July 2016), if the Fed will give clear signals to further tighten its monetary policy in 2019.
                            About 70% of market participants, according to the CME Group, believe that the rate will be increased in 2019 at least 2 more times. At the same time, the rate increase on December 19, at the last Fed meeting this year, by 0.25% to 2.5% is not in doubt.
                            The press conference of the Fed will begin on Wednesday 19:30 (GMT). Unambiguous signals from US Federal Reserve Chairman Jerome Powell, indicating a propensity to continue tightening monetary policy, will cause a rise in the dollar and a drop in gold prices. In the face of an increase in interest rates, gold is difficult to compete with other income-generating assets, such as government bonds, for example. At the same time, the cost of acquiring and storing gold is growing.
                            The breakdown of the support level of 1235.00 (EMA144 on the daily chart) will be the beginning of the return of XAU / USD to the bearish trend.
                            The soft rhetoric of statements by Fed officials could contribute to weakening the dollar and further rising gold and XAU / USD quotes towards resistance levels of 1260.00 (EMA200 on the weekly chart), 1277.00 (Fibonacci level 61.8%).
                            *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

                            Support Levels: 1242.00, 1235.00, 1220.00, 1212.00, 1204.00, 1197.00, 1185.00, 1160.00
                            Resistance Levels: 1248.00, 1260.00, 1277.00

                            Trading scenarios

                            Sell ​​Stop 1234.00. Stop Loss 1250.00. Take-Profit 1220.00, 1212.00, 1204.00, 1197.00, 1185.00, 1160.00
                            Buy Stop 1250.00. Stop Loss 1234.00. Take-Profit 1260.00, 1277.00



                            *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

                            Comment


                            • EUR/USD: on the eve of the publication of the Fed rate decision 12/19/2018*)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics Currently, EUR / USD is trading near a strong resistance level of 1.1400 (EMA50 on the daily chart). Below the key resistance level of 1.1595 (ЕМА200 on the daily chart), negative dynamics prevail. The signal for the resumption of the decline will be the breakdown of the short-term support level of 1.1355 (ЕМА200 on the 1-hour chart), and the targets for the decline will be the support levels of 1.1290 (Fibonacci level 23.6% of the correction to the fall from the level of 1.3900, which began in May 2014), 1.1270 (minimums December), 1.1210 (November and year lows), 1.1000 (bottom line of the downward channel on the daily chart). In the alternative scenario and in case of breakdown of the local resistance level of 1.1470, corrective growth will be possible to the resistance level of 1.1595. Support Levels: 1.1376, 1.1355, 1.1310, 1.1290, 1.1210, 1.1000 Resistance Levels: 1.1400, 1.1470, 1.1595, 1.1700, 1.1790 Trading scenarios Sell Stop 1.1370. Stop-Loss 1.1420. Take-Profit 1.1355, 1.1310, 1.1290, 1.1210, 1.1000 Buy Stop 1.1420. Stop-Loss 1.1370. Take-Profit 1.1470, 1.1600, 1.1700, 1.1790 *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

                              Comment


                              • EUR/USD: has the Eurodollar growth stopped?
                                12/21/2018
                                Current situation

                                Stocks and the dollar continued to fall on Thursday after the Fed raised interest rates on Wednesday. The Fed leaders unanimously decided to raise the key rate to a range of 2.25% -2.5%. However, the central bank announced a possible slowdown in monetary tightening next year.
                                At a press conference, Fed Chairman Jerome Powell said that, according to central bank executives, next year the economy will be strong enough that rates could be raised twice. Earlier, the Fed planned 3 rate increases in 2019 and 2 more increases in 2020.
                                The US dollar declined significantly this week. On Thursday, the DXY dollar index, which tracks the US currency against a basket of 6 other major currencies, fell to an 8-week low, dropping to 95.73. At the beginning of the European session on Friday, futures for the DXY index traded higher (near the mark of 96.06), however, the pressure on the dollar persists.
                                US Treasury Secretary Stephen Mnuchin tried to reassure investors, saying that the reaction of markets to the results of the last Fed meeting was excessive. "I think we are clearly in a situation in which the market over-responded to the statements of the Fed", said Mnuchin. According to him, the central bank may not have to raise rates at all next year if inflation remains low.
                                However, investors' pessimism persists. The Fed continues to reduce its balance sheet and raise interest rates, but tensions remain in US political and trade relations with China.
                                Sales in stock markets led to a sharp strengthening of the yen and the euro, which are the funding currencies.
                                The Eurodollar strengthened since the beginning of the week, reaching a local maximum of 1.1485 on Thursday. However, on Friday the EUR / USD pair is falling. Investors take profits at the end of the week and close their positions ahead of the long weekend due to the celebration of Catholic Christmas early next week.
                                From the news today, attention should be paid to the publication (at 13:30 GMT) of a whole block of important macro data from the United States, including GDP data (final release), which are one of the key (along with labor market and inflation data) for the Fed in terms of its monetary policy. The forecast for the 3rd quarter of this year is +3.5% GDP growth. Despite the relative decline (in the previous quarter, GDP growth was + 4.2%), this is a strong indicator. If the data turns out to be worse than the forecast, the dollar and stock indices will react with a decrease.
                                It was the last full trading week this year. On Monday, markets in many countries will be closed. In full, trading will be restored only on Wednesday, and next Monday the world will celebrate the New Year.
                                *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

                                Support and Resistance Levels
                                EUR / USD rose sharply this week, despite the Fed raising interest rates. Sales in stock markets led to an increase in demand for the yen and the euro, as for funding currencies. On Thursday, the EUR / USD pair reached a 5-week high near the 1.1485 mark. However, growth expected by many investors to the first strong resistance level of 1.1545 (ЕМА144 on the daily chart) did not take place, and on Friday EUR / USD is falling. A decline below the support level of 1.1400 (EMA50 on the daily chart) and inside the downward channel on the daily chart will indicate return of EUR / USD to the global bearish trend, and a breakdown of the short-term support level of 1.1384 (EMA200 on the 1-hour and 4-hour charts) will be a signal for opening short positions. The targets for further decline are support levels of 1.1290 (Fibonacci 23.6% correction to a fall from 1.3900, which began in May 2014), 1.1270 (December lows), 1.1210 (November and year lows), 1.1000 (bottom line of the downward channel on the day chart).
                                In the case of the resumption of growth and breakdown of the local resistance level of 1.1485, corrective growth will be possible to the resistance level of 1.1595 (ЕМА200 on the daily chart). Below this key resistance level of 1.1595 negative dynamics prevails.
                                Support Levels: 1.1400, 1.1384, 1.1310, 1.1290, 1.1270, 1.1210, 1.1000
                                Resistance Levels: 1.1470, 1.1485, 1.1545, 1.1595, 1.1700, 1.1790

                                Trading Scenarios

                                Sell ​​in the market. Stop-Loss 1.1490. Take-Profit 1. 1.1400, 1.1384, 1.1310, 1.1290, 1.1270, 1.1210, 1.1000
                                Buy Stop 1.1490. Stop-Loss 1.1390. Take-Profit 1.1545, 1.1600, 1.1700, 1.1790


                                *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

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