Daily Market Analysis from NewForex Broker

[Volfovich]

Forex News from New Forex: Technical analysis of USD/CHF

The US dollar has been gaining ground versus the Swiss franc for the third trading session in a row with support at 0.9270 and resistance at 0.9450. The trend keeps its bullish sentiment with a possibility to bounce off from the upper border of the channel.

 

[Volfovich]

Forex News from New Forex: Technical analysis of USD/JPY

The market is seriously overbought and trades are made between the first level of resistance at 124.50 and support at 123.65. The trend has a bullish sentiment. Trades to buy will be profitable if the resistance at 124.50 is breached. In case of unfavorable development of events, it is preferable to limit losses with stop-loss orders below 122.40. To enter the market with short positions is risky today.

 

[fxapex]

GBPUSD fell a bit but at present GBP is recovering and it seems that it might go further up .

 

[Volfovich]

Forex News from New Forex: Technical analysis of EUR/USD

The negotiations of Greek and European authorities are not completed. Therefore this market is poorly predictable. In accordance with 25 daily Moving Average trend is bearish. The trend will stay bearish for a long time period. The index OB/OS is neutral. The price 1.1143 is a firm support level with resistance at 1.1214.However, the formation of the upward trend in the medium and short term is possibly . That is confirmed by the MACD indicator.

 

[Volfovich]

Forex News from New Forex: Technical analysis of GBP/USD

The pair has a neutral range today with support at 1.5667 (Wednesday min) and resistance at 1.5757. In case it manages to pass through this level successfully, the market will test resistance at 1.5990. In the end of last trading session the market has formed a bullish candle, so we may see Sterling in the area of strong resistance at 1.5929 (max june 18). But this scenario has not much ground, unless with help of fundamental factors.

 

[Volfovich]

Forex News from New Forex: Technical analysis of XAU/USD

The market is characterized by downtrend for a long time period. A strong resistance is at $1169 per troy oz. Therefore, long positions seem to be more successful when the price rebound from the $1169 per troy oz and with profit gains at $1175 and further at $1177 price levels. A short positions are possible when the market reaches $1206 aria (this is a strong resistance level).

 

[Volfovich]

Forex News from New Forex: Technical analysis of USD/CHF

Starting from the Asian session the trades have a bearish sentiment. Today the level of support is at 0.9242 US dollars for the Swiss franc. If this level is breached, the market might go to 0.9149 and 0.9071. Otherwise, the market will bump into resistance at 0.9428 and further at 0.9501, 0.9543.

 

[Volfovich]

Forex News from New Forex: Technical analysis of NZD/USD

In the four-hour timeframe the kiwi tests its support at 0.6818 and up to now it has been doing it quite successfully. The trend has a clear bearish sentiment with some pullbacks to the resistance at 0.6841, 0.6853 and 0.6881. However, the strongest level of resistance is still 0.6923 kiwi for the US dollar. Oscillators as well as trend indicators point to the prolongation of the bearish sentiment in the market.

 

[Volfovich]

Forex News from New Forex: Technical analysis of AUD/USD

In the Asian trading a bearish sentiment prevails in the pair AUD/USD with the support at 0.7630, 0.7615 and 0.7597. The levels of resistance are seen at 0.7760, 07780 and 0.7800. A 25-day moving average indicates that the market will continue its downward trend keeping a strong level of support at 0.7597 (a low of June 1). This important barrier might be overcome only with the help of strong fundamental factors without which there has only been a testing of this level for several weeks and nothing more.

 

[Volfovich]

Forex News from New Forex: Technical analysis of USD/JPY

In the Asian trading today the US dollar has pared earlier losses against the Japanese yen. The market tests the immediate resistance at 122.72, the level of support is seen at 121.93. In the mid-run according to the moving average, the trend is characterized by the bullish sentiment. However, the possibility of the pullback to the level of support at 121.93 still exists. If the market breaches the resistance at 124.37, there might be a rise to 125.85.

 

[Volfovich]

Forex News from New Forex: Technical analysis of EUR/USD

The currency pair has a downward trend, in the 4-hour timeframe a bearish sentiment is seen with the support at 1.1112 and resistance at 1.1192. Trend indicators and oscillators point to the further decline of the market with the possible strong support at 1.1049.

 

[Volfovich]

Forex News from New Forex: Technical analysis of EUR/JPY

During the previous trading session the currency pair bumped into resistance at 137.7 and declined to support at 135.87, closing trades with the formation of a bearish candle in the upper part of the trading range, which implies the pullback to 138.11 (a high of Monday). Today trades have a slight bearish sentiment. In the short run the level of support will be seen at 135.26, 134.92 and 134.58, the level of resistance at 137.16, 137,5 and 137,84.

 

[Volfovich]

Forex News from New Forex: Technical analysis of EUR/USD

Throughout the trading session on Tuesday, the market seems to be in a bearish sentiment. The European currency is been trade between support level at 1.0898 and resistance at 1.1100. According to EMA, the trend is going to stay bearish, as far as a short, medium and long term period concern. This is confirmed by the bearish candle, formed as the result of the previous trading session. Today’s target price is 1.0916. In case the market has reach the level, it may go further to 1.0818. Thus, short positions will be successful if the entry into the market will take place right after the bearish candle is formed below the strong resistance at 1.1213. Trades to bay will be yet too risky.

 

[Volfovich]

Forex News from New Forex: Technical analysis of GBP/USD

Today’s trades have a small bullish advantage with the next support level at 1.5428 and the resistance at 1.5551. With the bearish scenario, the following target price will be at 1.5329 (min of July 8). According to the MACD and RSI oscillators, there is a strong possibility that the bears will succeed. In another way the market will have to overcome resistance level at 1.5551 and 1.5609 with the target at 1.5643 and then at 1.5788.

 

[Volfovich]

Forex News from New Forex: Technical analysis of USD/JPY

Bulls still dominate Wednesday’s trading activity. Today the market is making another attempt to test resistance at 123.57. Support level holds at 122.70. With the successful bearish scenario, the market moves higher than 124.30 level. If the market can overcome this price value, it will be higher than 125.80 level. Trades to sell will be yet too risky. Short positions will be successful when the bearish candle formed below the strong support at 1.1213.

 

[Volfovich]

Forex News from New Forex: Technical analysis of EUR/JPY

At the end of the Asian trading session the currency pair makes a rebound from support at 135.27 and resistance at 136.37 and it continues consolidating in this range. Thus, the prospects of this market in the near future remains unclear. Now entering the market in any direction will be risky. However, if the currency pair consolidates below the strong support level at 133.30 (min of 8 and July 9), the market can take up to 131.29. With the bearish scenario, when the marcet overcomes resistance at 137.69 and 138.11, the price can rise to 140.63

 

[Volfovich]

Forex News from New Forex: Technical analysis of XAU/USD

The downward trend in gold continues. The market overcame the next level of support at 1146 dollars per troy ounce. Its price continues to slide. Next support level seems to be at 1142 dollars per troy ounce. It is possible that the gold price will fall to 1131 dollars per troy ounce (min. of November 2014).

 

[Volfovich]

Forex News from New Forex: Technical analysis of AUD/USD

At the end of the Asian trading session the currency pair was trading steadily with a slight bearish advantage and with the US-dollar strengthening. The market has reached support at 0.7298 and resistance at 0.7435. As a result of yesterday’s trading in the long term downward trend will update a six-year minimum at 0.7349 and will form a heavy bearish candle. Trades to sell will be more successful than trades to buy.

Newforex Analyst

Joseph Schwartz

 

[Volfovich]

Forex News from New Forex: Technical analysis of the currency pair USD/JPY

In the trading in Asia the currency pair continues its bullish rally for the second week in a row. In the short run the trend will keep its bullish tone, according to the Stochastic oscillator the pair is oversold. However, it is not reflected in the current market tendency. The immediate levels of support and resistance are at 124.16 and 124.58. A strong support is still 120.41 (a low of July 8) with the resistance at 125.85 (a high of June 5).

 

[Volfovich]

Forex News from New Forex: Technical analysis of the currency pair GBP/USD

At the beginning of the European trading session the pair has a mild bearish tone with the support at 1.5505 and resistance at 1.5597. We observe a pullback to the current support and expect that the tendency will continue in the short run. In case of the successful breach of the level at 1.5505, we may see the market below 1.5453. However, a pullback does not cancel a general bullish sentiment. Long positions might bring a good profit, if the bullish candle is formed above the strong support level at 1.5329, a low of June 8.