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MasterForex Broker – Trend analysis of currency pairs and Comments (Updated daily)

Discussion in 'Market Predictions and Reports' started by MasterForex Broker, Jun 5, 2012.

  1. MasterForex Broker

    MasterForex Broker MasterForex.org Representative

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    Hello Dear Traders,

    We are pleased to present you in this thread daily analytics of MasterForex Company.

    MasterForex analysts will offer you everyday reviews describing a currency pair's daily dynamics in several time frames, dynamics analysis based on several methods, explanation of analysis and indicators’ dynamics.

    That we will be posting in this thread.

    And more analysis such as:

    * Simple trading strategies analysis; composition of weekly ratings
    * Description and comments to the most significant economic events of the day
    * Comments to the next-day events mentioned in the economic calendar
    * Integrated weekly reviews


    That can be followed on our Market overview page at http://masterforex.org/en/About/market_overview/index.html
     
  2. MasterForex Broker

    MasterForex Broker MasterForex.org Representative

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    Trend analysis USDJPY 12.06.05 by MasterForex Broker.

    USDJPY

    On the 4-hour chart:

    [​IMG]

    The technical correction, which has begun on Monday, is continuing. The pair takes a try to get back to the previous trade channel between the lines 1 and 2. The dynamics of the last days has formed the new support line 3 and the ascending channel clamped by the lines 4 and 5.

    On the 1-hour chart:

    [​IMG]

    The pair is moving along the line 1. The price has taken a try to pierce the resistance 78.39, but could not foothold above the level. The pair is ready to leave the channel between the lines 2 and 3. The nearest support level is 78.29.

    On the 15-minute chart:

    [​IMG]

    The pair has been fluctuating between the levels 78.39 and 78.29, when it has started the sharply decline under the news influence. The pair is testing the support 78.19/14 now. The most likely scenarios are the following decrease or change to flat at least until the publishing of the statistics of the retail sales in USA.
     
  3. MasterForex Broker

    MasterForex Broker MasterForex.org Representative

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    Trend analysis USDCAD 12.06.05 by MasterForex Broker.

    USDCAD

    On the 4-hour chart:

    [​IMG]

    The pair continues the correction within the ascending channel, clamped by the lines 1 and 2. The price rebounded from the resistance level 1.0441 and rushed to 1.0373, which is under testing now. Let’s look through the situations in detail.

    On the 1-hour chart:

    [​IMG]

    The pair dynamics restricted by the lines 1 and 2, which form the descending channel. The price has rebounded from the bottom of the channel and now it is correcting upward, piercing the levels 1.0373 and 1.0390. The growing price has formed the line 3.

    On the 15-minute chart:

    [​IMG]

    The pair is correcting upward along the line 1. The growing price does not separated from the resistance 2 by any level. The preconditions to the end of the correction before the reaching the line 2 could be only the economic news. The closest statistics from US and Canada will be published near the end of the European session. Recommendation: hold the long positions opened until the clear signals of the tendency end would be received; target – 1.0419.
     
  4. MasterForex Broker

    MasterForex Broker MasterForex.org Representative

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    Trend analysis AUDUSD 12.06.05 by MsterForex broker.

    AUDUSD

    On the 4-hour chart:

    [​IMG]

    The pair is moving within the descending trend, clamped by the lines 1 and 2. The pair is in the correction phase since the beginning of the week, forming the line 3. After the short testing, the level 0.9709 had been pierced, as well as 0.9755. The price is trying to break through the resistance area 0.9781/97 now.

    On the 1-hour chart:

    [​IMG]

    Lines 1 and 2 are the borders of the ascending channel, inside which the price is moving. The pair rebounded from the level 0.9797, and reached the bottom of the channel and the level 0.9755, while falling. Let’s look through the situation in detail.

    On the 15-minute chart:

    [​IMG]

    The correction period within the short-term ascending trend, clamped by the lines 1 ad 2, is getting close to the end. The price has not been able to foothold above the level 0.9758 yet. The likely scenarios of the situation development are:

    • The pair pierces the line 2, finishing the correction period of the middle-term trend (look 4-hour chart)

    • The continuing the movement within the current channel pair rushing to the line 1

    Recommendation: open the respective positions only after the clear signals of the resumption of the dynamics in any direction would be received.
     
  5. MasterForex Broker

    MasterForex Broker MasterForex.org Representative

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    Trend analysis USDCAD 12.06.06 by MasterForex Broker


    USDCAD

    On the 4-hour chart:

    [​IMG]

    The moving within the ascending channel between lines 1 and 2 pair started to test the support line. Recall that the correction period begun in Monday. The closest support level is 1.0293.

    On the 1-hour chart:

    [​IMG]

    The topical until the last hours descending channel, clamped by the lines 1 and 2, has been pierced. Such intensive lowering tendency caused more by the news than by the technical reason. Let’s look thorough the situation in detail.

    On the 15-minute chart:

    [​IMG]

    The lines 1 and 2 are outlining the price dynamics clearly, drawing the descending channel. The pair reached the bottom of the channel, which could mean the possibility of the correction within the daily trend. The final foothold of the price below the level 1.0322 will open the way to 1.0222. However, the reaching of that support level is unlikely. Recommendation: keep the short positions opened despite the possible correction within the middle-term trend.
     
  6. MasterForex Broker

    MasterForex Broker MasterForex.org Representative

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    Trend analysis USDJPY 12.06.06 by MasterForex Broker


    USDJPY

    On the 4-hour chart:

    [​IMG]

    The pair came back to the descending channel between the lines 1 and 2. The last day dynamics is in range of the diapason between the lines 3 and 4. The resistance area 78.72/78 has been pierced. The nearest level is 79.06/ Let’s look through the situation in detail.

    On the 1-hour chart:

    [​IMG]

    The pair got back to the ascending channel between lines 1 and 2. The price is getting closer to the top border of the of the middle-term descending trend – line 3. In case of the piercing of the line the actual resistance would be the line 4.

    On the 15-minute chart:

    [​IMG]

    The current channel between the lines 1 and 2 is narrowing. The pair is trying to foothold above the line 1. The forming of the new resistance line 3 has begun. The holding of the pair above the level 79.06 will confirm the breaking the resistance line 4. Recommendation: keep the long positions opened at least until the publishing of the evening US statistics.
     
  7. MasterForex Broker

    MasterForex Broker MasterForex.org Representative

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    Trend analysis AUDUSD 12.06.06 by MasterForex Broker


    AUDUSD

    On the 4-hour chart:

    [​IMG]

    The pair has pierced upward the channel between 1 and 2 and continues the growth along the line 3. The levels 09755 and 0.9865 have been broken thorough. The price has got closer the resistance 0.9865. The favorable statistics from Australia stimulates the growth. The piercing of the nearest resistance is likely.

    On the 1-hour chart:

    [​IMG]

    The pair got back to the ascending channel between the lines 1 and 2. Due to the regular changing the flat to the sharply growth, caused by the news, the pair shows the mixed dynamics. Let’s look through the current situation in detail.

    On the 15-minute chart:

    [​IMG]

    The lines 1 and 2 are outlining the price dynamics the most clearly. In addition, the line 3 also has an impact to the pair. The level 0.9865 is under testing now. Obviously, the period of correction submitted by the flat, over, and the growth continues. Recommendation: keep the long positions opened counting on the piercing of the resistance levels 0.9865 and 0.9888.
     
  8. MasterForex Broker

    MasterForex Broker MasterForex.org Representative

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    Trend analysis EURUSD 06.06.12 by MasterForex Broker

    EURUSD

    On the 4-hour chart:

    [​IMG]

    The pair had continued the growing dynamics that had been interrupted by the sharp decrease. The price had left the trend channel for the second time and had reached 38.2 fibo level. The Moving Averages prepare to give the reverse signal.

    On the 1-hour chart:

    [​IMG]

    The pair had increased higher the trend line 0 at the beginning of the day. After that it had seen the rebound from the resistance level 1.2506 (38.2 fibo level). The reverse after the decrease on Tuesday allowed making the support line 2. Thus, the price becomes clamped between the resistance and the support. The Moving Averages gave the bullish signal and remain in the same tone.

    On the 15-minute chart:

    [​IMG]

    The pair had continued to fluctuate above the support line 1. The price tests previous local high level 1.2506 now. The next resistance is 1.2522. If the price could foothold above the test level the likelihood of the further growth will increase. The final reverse signal will be the break through the level of previous local high 1.2536. Break through the lines 1 and 2 will be the first signal of the return to the downward tendency. Also, traders should pay attention to the Moving Averages.
     
  9. MasterForex Broker

    MasterForex Broker MasterForex.org Representative

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    Trend analysis GBPUSD 06.06.12 by MasterForex Broker


    GBPUSD

    On the 4-hour chart:

    [​IMG]

    The pair had continued to move in the upward direction to the trend line 0. Herewith the price had increased above the level 1.5470 (78.6 fibo level). It had been formed the support line 1. The Moving Averages converge that means the growth of the likelihood that the reverse signal will be given.

    On the 1-hour chart:

    [​IMG]

    There are no more than 70 pips to the trend line 0. The Moving Averages had given the reverse signal. It had been formed the resistance line 2.The price fixing itself higher the level 1.5470 (78.6 fibo level).

    On the 15-minute chart:

    [​IMG]

    The pair remains to increase sharply. The price fluctuates above the support line 1 and it had broken the resistance line 2 as well as the level 1.5470. It had started to form the recoil; however, the depth could not be forecasted. If the lines 1 and 2 could save their strength, the likelihood of the friwthr growth will increase. The growth will be restricted by the trend line 0. If the line could be broken it will be received the second reverse signal – the break through the previous local high level. If the lines could be broken it will be expecting the decrease.
     
  10. MasterForex Broker

    MasterForex Broker MasterForex.org Representative

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    Overview of the main economical events of the current day - 13/12/2013

    The U.S. Retail Sales Growth Supported the Dollar


    The US dollar grew on Thursday Vs all major currencies after retail sales data that exceeded the expectations. The US retail sales showed the highest growth rates in November for 9 month and rose by 0.7% m/m Vs the expected growth by 0.6%.

    The growth was mainly caused by auto sales increase by 1.8% - the highest for five months - Retail Sales ex Auto rose by 0.4% m/m having exceeded the expected growth by 0.2%. The sales of 8 from 13 major categories of retail goods increased in November, which can confirm a successful start of Christmas sales season in the USA. Consumer spending growth which is 2/3 of GDP, is a sign of economic improvement in the 4th quarter and it can bring the start of QE3 tapering closer.


    [​IMG]

    At the same time employment market data showed an unexpected growth of Unemployment Claims which rocketed by 68 thousand last week to 368 thousand, the highest reading for two months. Initial Jobless Claims - 4 Week Average grew to 328.75 thousand from 322.75 thousand prior week. However, the US Department of Labor warned that the last week data could be a little distorted due to seasonal factors and holidays during the last two months of the years.

    [​IMG]

    The Swiss franc had almost no reaction to the meeting of the Swiss National Bank (SNB) according to which the policy was kept unchanged as expected – but then it fell. SNB governor Jordan said that the franc rate was still high - downwards risks prevail in the economy, and its growth may slow down in the fourth quarter.

    The euro fell after another futile test of $1.38 amid the decrease of euro-zone industrial output which fell by 1.1% m/m in October Vs the expected growth by 0.3%. The data released earlier this week showed industrial output decrease in October in France and Germany – the key countries of the European Union. Since November EURUSD has risen almost by 4% coming close to the height of 2013. ECB president Draghi said on Thursday that another LTRO line must be created to raise the chances that the program could reach real economy.

    Australian dollar dropped Vs the dollar to the low of late August after Australian labour market data that showed unemployment growth to 4-year high in November. Employment Change grew by 21 thousand in November having exceeded the expected growth to 10 thousand. Extra pressure was put by the news that a number of companies are going to leave Australia or threaten with a significant reduction in the number of jobs. RBA Governor Glenn Stevens said that he expected Australian currency to fall to $0.85.

    New Zealand dollar rose in the first half of the day after the RBNZ meeting where the key interest rate was kept unchanged but then it dropped. RBNZ said that inflation pressure started to rise and the necessity of further stimulation in the current volume is falling. The rate increase wasn’t considered yet but it can be raised if needed to support inflation about 2%. The rate must be increased by about 2.25% during the next two or so years – said RBNZ Governor Wheeler.

    The yen again came close to annual heights Vs the dollar on Thursday. According to the QUICK poll, most Japanese analysts expect the Bank of Japan to start further monetary policy easing in spring of 2014. Canadian dollar stopped correctional growth of recent days and fell. Bank of Canada governor Poloz said again in his speech about the neutral position in regard to interest rate changes. He said that it might take two years for inflation to return to the target level of 2%.

    By MasterForex Company
     
    #10 MasterForex Broker, Jun 6, 2012
    Last edited: Dec 13, 2013

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