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NewForex — The technical analysis of Forex Market


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#1
Anna Mon

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Allow me to present to the distinguished community the technical analysis of Forex Market by NewForex company. In this thread I will post daily technical analytics.


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#2
Anna Mon

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Forex News from New Forex: Technical analysis of EUR/USD
 
During the Asian trading session on Wednesday the single currency trades with a slight rate rise. On Tuesday the euro got support amid the general easing of the US dollar reaching 1.1111 and then bounced off to 1.1060-70, as the result tradings closed with a firm bullish candlestick on the day chart. However, the market could not fix outside yesterday’s support and resistance (1.1016 and 1.1066).
 
The 14-day RSI remains below its central line, exponential moving averages with periods 20 and 55 days decline without any sign of crossing. The oscillator Stochastic decreases sending signals to sell. The MACD-histogram stands in the negative zone but rises slowly to the positive field.
 
Thus, in the short run technical characteristics indicate a neutral market sentiment. For the uptrend the price should fix above the yesterday’s high at 1.1111. For the downtrend it should breach the current support at 1.1010 and then at 1.0982.
 
s6WVNpY8.png
 
NewForex Analyst
 
David Fineberg
 
Forex News from New Forex: Technical analysis of GBP/USD
 
On Wednesday the pair is quite steady standing within the strong levels of support and resistance at 1.3272 and 1.3493 respectively testing the intermediate resistance at 1.3401.
 
In the short run the pair will further consolidate. A long-term technical structure is prone to the bearish market sentiment in case of breaching the strong level of support at 1.3119 (a low since June 27).
 
The MACD-histogram remains in the negative zone but rises. The RSI stands below its central line, the Stochastic sends a signal to sell.
 
s6WVNpY9.png
 
NewForex Analyst
 
David Fineberg

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#3
Anna Mon

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Forex News from New Forex: Technical analysis of EUR/USD
 
During the last three days the pair demonstrated a slight rise after a shock amid the referendum results in the UK devoted to leaving the European Union. In the trading on Thursday the price stands within the support at 1.1086 and resistance at 1.1117. Thus, we observe the continuation of the correctional period.
 
In the short term a growth resumption might be possible in case of consolidating above the strong resistance level at 1.1167 which might give a way to 1.1252. For the opposite scenario the market should breach the support at 1.1050 which will help to go to 1.0971.
 
Due to high market volatility sharp price movements do not exclude the continuation of consolidation. In a 4-hour timeframe EMA20 and EMA55 keep declining but the moving average with the period 20 days has slowed down and reverse. The MACD-histogram broke the even at the moment. The Stochastic informs about the overbought of the trading instrument.
 
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NewForex Analyst
 
David Fineberg
 
 
Forex News from New Forex: Technical analysis of GBP/USD
 
During the whole week after Brexit results we observe high market volatility without the formation of a clear-cut trend movement.
 
On Thursday the currency pair trades in mixed ways with a slight price rise remaining within the support level at 1.3357 and resistance at 1.3606.
 
In the short term in a 4-hour timeframe the MACD-histogram is seen in the negative zone but is ascending now. The RSI is close to the central line and might move to the field above it. The Stochastic decreases sending signals to sell. A long-term technical structure remains negative which in its turn leads to the further market descend.
 
s6WVNpZi.png
 
NewForex Analyst
 
David Fineberg

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#4
Anna Mon

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Forex News from New Forex: Technical analysis of EUR/USD
 
After the rally during the last two trading sessions the euro started to lose ground due to some rumours that the ECB is concerned about the contraction of the volume of debt securities corresponding to buying criteria. Yesterday tradings closed with a firm bearish candlestick on a day chart. The market retains high volatility potential.
 
On Friday the pair trades with a slight price decline remaining within the support at 1.1000 and resistance at 1.1132. In the short run as we see on a four-hour chart the EMA 55 slides, the EMA 20 reversed and started to rise. The MACD-histogram broke even, the oscillator Stochastic reversed upwards and sends a signal to buy.
 
s6WVNpZM.png
 
NewForex Analyst
 
Michael Butnitsky
 
Forex News from New Forex: Technical analysis of GBP/USD
 
After the announcement of the Bank of England Governor Mark Carney about the intention to cut down the interest rate within the quantitative easing program the pound sterling retains its downtrend, yesterday’s trading session closed with a bearish candlestick.
 
On Friday GBP/USD trades with a descending potential standing within the support level at 1.3114 and resistance at 1.3406.
 
Exponential moving averages keep declining, the MACD-histogram remains below its central line, the price consolidated below Ichimoku Kinko Hyo which indicates the further market downtrend.
 
s6WVNpZN.png
 
NewForex Analyst
 
Michael Butnitsky

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#5
Anna Mon

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Forex News from New Forex: Technical analysis of EUR/USD
 
On Tuesday, July 5, the pair EUR/USD trades within the level of support at 1.1122 and resistance at 1.1165. On a 5-minute chart we see that the price bumped into a strong resistance at the start of the Asian session. Bearish sentiment is getting stronger. According to NewForex analysts, to make the right decision regarding this pair it’s preferable to wait for the breach of the strong support levels as signals of the MACD indicator and the Stochastic are not firm enough at the moment.
 
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NewForex Analyst
 
Michael Butnitsky

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#6
Anna Mon

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Forex News from New Forex: Technical analysis of EUR/USD
 
On Wednesday, July 6, the pair EUR/USD keeps it bearish sentiment. Meanwhile, the decline of quotes slowed down near the strong support level at 1.1035. Operations with the pair seem quite risky today as traders expect an important Fed’s minute later today. The further pair movement depends mostly on data from the USA.
 
s6WVNq1J.png
 
NewForex Analyst
 
Luigi Campo

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#7
Anna Mon

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Forex News from New Forex: Technical analysis of EUR/USD
 
In the trading on Thursday the pair remains within the level of support at 1.1065 and resistance 1.1149. A slight bearish sentiment prevails in the market with attempts to breach the current support level but without luck at the moment.
 
Exponential moving averages with periods 20 and 55 days crossed downwards and decline. The MACD moved into the zone below zero, the Stochastic sends a signal to sell. The euro gained some support after the release of yesterday’s minutes by the Fed, the price climbed to 1.1111. However, the market could not stay at this level and pulled back to 1.1065 at the end of the trading session.
 
Most market participants are in the anticipation of the results of the ECB Monetary Policy Meeting later today. And the market is eagerly awaiting tomorrow’s data from the USA on unemployment rate and nonfarm payrolls.
 
Trading decisions should be based on the above-mentioned macroeconomic data.
 
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NewForex Analyst
 
Michael Butnitsky
 
Forex News from New Forex: Technical analysis of GBP/USD
 
Hitting a new 31-year low on Wednesday declining to 1.2795, the currency pair got support after the release of data from the USA and today trades within the support at 1.2747 and resistance at 1.2980. Based on the results on the previous trading session the pair formed a firm bearish candlestick in a day-chart which implies that the market intends to go downwards and there might be some new anti-records.
 
EMA20 and EMA55 keep declining, the MACD remains below its central line as well as the RSI. Only the oscillator Stochastic sends a signal to buy.
 
s6WVNq2e.png
 
NewForex Analyst
 
Michael Butnitsky

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#8
Anna Mon

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Forex News from New Forex: Technical analysis of EUR/USD
 
During the trading session on Thursday the currency pair rose to 1.1106 and later bounced off to 1.1052 making a firm bearish candlestick in the day chart which shows the market intention to decline. It is necessary to breach the strong support at 1.1050. In case of success we expect to see the price at 1.0970. Otherwise, the market has to breach the resistance at 1.1111 which will allow the pair to climb to 1.1180.
 
In the trading on Friday the pair remains within the support level at 1.1067 and resistance at 1.1095. EMA20 and EMA55 crossed downwards and keep descending. The MACD-histogram stands in the negative zone and slowly rises. The oscillator Stochastic sends a signal to sell.
 
The market consolidated due to the decreased activity of its participants before the release of macroeconomic data from the US today at 15:00 GTM.
 
s6WVNq2E.png
 
NewForex Analyst
 
Luigi Campo
 
 
Forex News from New Forex: Technical analysis of GBP/USD
 
On Thursday the pair edged up to 1.3076 but later bounced off to 1.2878 finishing trades with a neutral day candlestick which says about the weakness of the currency pair and market consolidation giving chances both to bulls and bears, according to the current technical structure.
 
On Friday the price remains within the support at 1.2883 and resistance at 1.3000. However, it is not so simple here. Today at 15:30 GTM the market expects the release of unemployment data and nonfarm payrolls for June. Consequently, all market participants shudder to a halt in the anticipation of macroeconomic statistics from the US. Thus, a further scenario totally depends on the released data.
 
Exponential moving averages consolidated, decline and slowed down. The MACD-histogram remains in the negative zone but slightly rises. The RSI also stands below its central line. The Stochastic sends a signal to buy. We don’t exclude a further market descend hitting new record lows, even if the greenback receives firm support today.
 
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NewForex Analyst
 
Luigi Campo

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#9
Anna Mon

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Forex News from New Forex: Technical analysis of EUR/USD
 
On Monday, July 11, the pair EUR/USD trades within the support at 1.1015 and resistance at 1.1055. As we see on today’s 5-minute chart the price is under pressure ahead of the Eurogroup meeting. In late afternoon on Friday the market showed high volatility after the publication of the US nonfarm payrolls. Today the MACD-indicator indicates the formation of a sideways market trend. Taking into account signals of most indicators, it’s worth considering orders to sell on Monday.
 
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NewForex Analyst
 
Luigi Campo

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#10
Anna Mon

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Forex News from New Forex: Technical analysis of EUR/USD
 
In the trading on Tuesday, July 12, the pair EUR/USD keeps it yesterday’s bearish sentiment. As we see on a 5-minute chart it trades within the support at 1.1045 and resistance at 1.1125. The indicator Stochastic shows that the pair EUR/USD stands in the zone of overbought. It allows us to suppose that the pair will decline in the short run.
 
At the moment market participants are in the anticipation of the Bank of England meeting over the interest rate this Thursday. And also we wait for the retail data from the USA which is due to be released on Friday and might influence on the dollar rate. These two events may affect changes within the pair this week.
 
s6WVNq4D.png
 
NewForex Analyst
 
David Fineberg

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#11
Anna Mon

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Forex News from New Forex: Technical analysis of EUR/USD
 
In the trading on Wednesday the pair stands within the immediate support at 1.1058 and resisitance at 1.1132. As for short-term prospects, on a 4-hour chart we see that the MACD-histogram has just entered a positive zone but the indicator RSI has not staying below its central line. However, the oscillator Stochastic says that the pair is oversold which implies a price increase.
 
EMA20 and EMA55 flatten after the recent crossing downwards which says about the consolidation within the current level of support at 1.1058.
 
s6WVNq59.png
 
NewForex Analyst
 
Luigi Campo
 
 
Forex News from New Forex: Technical analysis of GBP/USD
 
On Wednesday the currency pair trades with a considerable price rise within the immediate support at 1.3109 and resistance at 1.3435.
 
During the first part of the previous trading session the pair was firmly gaining drafting off the local support level at 1.2985 and later consolidated above the strong resistance at 1.3150. Then the pair continued its rise to 1.3290 with a rally within up to 300 pips. Today during the Asian trading session the pound sterling advances against the greenback to 1.3338, after that there was seen some correction which should determine the power of opposing parties. In case of the dominance of bears the price might reverse to 1.2985. Otherwise, we might expect testing the level at 1.3435.
 
In a 4-hour timeframe the MACD-histogram entered a positive zone and keeps edging up. Both the RSI and the oscillator Stochastic indicate that the pair is overbought and the bullish sentiment of the market eases. However, the price remains above lines of Ichimoku Kinko Hyo, which gives bulls good chances for the further upsurge.
 
s6WVNq5a.png
 
NewForex Analyst
 
Luigi Campo

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#12
Anna Mon

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Forex News from New Forex: Technical analysis of EUR/USD
 
In the trading on Thursday, July 14, EUR/USD keeps trading in a wide side channel. As we see on a 5-minute chart today, the pair trades within support at 1.1085 and resistance at 1.1130. This type of trading will continue until there is some certainty over the procedure of Brexit and it consequences.
 
Today’s outcome of the Bank of England meeting over the interest rate will definitely influence on the sentiment of the pair EUR/USD. The result might exert considerable pressure on the euro.
 
s6WVNq67.png
 
NewForex Analyst
 
Luigi Campo

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#13
Anna Mon

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Forex News from New Forex: Technical analysis of EUR/USD
 
In the trading on Friday, July 15, EUR/USD keeps trading in the side channel. The pair has been showing this trend for three weeks since the referendum in the UK. As we see on today’s 5-minute chart it trades within the support at 1.1105 and resistance at 1.1155.
 
It is likely that the pair will breach the strong resistance at 1.1165, then next day we will see an ascending trend. Otherwise, the sideways trend will remain.
 
s6WVNq6I.png
 
NewForex Analyst
 
David Fineberg

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#14
Anna Mon

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Forex News from New Forex: Technical analysis of EUR/USD
 
In the trading on Monday, July 18, the pair EUR/USD shows downward movement. As we see on today’s 5-minute chart it trades within the support at 1.1035 and resistance at 1.1075.
 
In the coming days, perhaps, the political situation in Turkey will affect the movement of the pair. These events can exert significant pressure on the Euro and ensure the growth of the us dollar.
 
s6WVNq8t.png
 
NewForex Analyst
 
Luigi Campo

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#15
Anna Mon

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Forex News from New Forex: Technical analysis of EUR/USD
 
In the trading on Tuesday, July 19, the pair EUR/USD trades in a narrow channel. As we see on today’s 5-minute chart it trades within the support at 1.1050 and resistance at 1.1080.
 
The US dollar weakened against European currencies and strengthened against the yen. Tonight the publication of data on the number of issued building permits in the United States is expected. This is the main indicator on the real estate market. Probably in June building permits in the U.S. increased compared with the data in may. These data can have a significant impact on the us dollar.
 
s6WVNq99.png
 
NewForex Analyst
Luigi Campo

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#16
Anna Mon

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Forex News from NewForex: Technical analysis of EUR/USD
 
In the trading on Wednesday, July 20, the pair EUR/USD trades in mixed ways. The current pair price is 1.1014. As we see on today’s 5-minute chart the pair trades within the level of support at 1.0995 and resistance at 1.1020.
 
Yesterday a bearish sentiment prevailed in the pair as EUR/USD is under pressure amid downbeat ZEW report of the economic sentiment. Today indicators send contradictory signals as we see on histograms of MACD and oscillator Stochastic. We assume that we should see a further strengthening of the bearish sentiment.
 
s6WVNq9M.png
 
NewForex Analyst
 
Sara Rosenstein

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#17
Anna Mon

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Forex News from NewForex: Technical analysis of EUR/USD
 
In the trading on Friday, July 22, the pair EUR/USD shows upbeat dynamics. Yesterday the ECB decided to keep the interest rate unchanged, the bank governor Mario Draghi did not mention any short-term plans of the bank in his speech.
 
As a result the pair was under pressure and the price declined up to 1,0978. However, later the pair rose and today on a 30-minute chart EUR/USD trades within the support at 1.1015 and resistance at 1.1035. NewForex analysts assume that the market will keep rising today.
 
s6WVNqaM.png
 
NewForex Analyst
 
Michael Butnitsky

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#18
Anna Mon

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Forex News from New Forex: Technical analysis of EUR/USD
 
In the trading on Monday, July 25, the pair EUR/USD trades within the level of support at 1.0986 and resistance at 1.0950. The price went down on Friday after the news and on Monday morning it keeps declining to 1.0950 (a low of June). Now as we see on a 5-minute chart the market tries to climb.
 
The MACD-histogram and the oscillator Stochastic form contradictory signals. We consider that a race for the price will continue in the market today. Moreover, today was the release of IFO — Business Climate in Germany which might influence on the further pair dynamics. As this indicator decreased less than expected and stands at 108,3, a considerable price change might be expected.
 
s6WVNqdr.png
 
NewForex Analyst
 
Luigi Campo
 
Forex News from New Forex: Technical analysis of GBP/USD
 
In the trading on Monday, July 25, the pair GBP/USD trades in a side channel. As we remember all last week a bearish sentiment prevailed in the market. Downbeat data on PMI in the UK exerted strong pressure on the pound sterling.
 
As a result today on a 5-minute chart the pair GBP/USD trades within the support at 1.3075 and resistance at 1.3300. Indicators show contradictory signals. However, NewForex analysts consider that pressure on GBP might increase.
 
s6WVNqds.png
 
NewForex Analyst
 
Luigi Campo

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#19
Anna Mon

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Forex News from New Forex: Technical analysis of GBP/USD
 
In the trading on Tuesday, July 26, the price movement of the pair GBP/USD remains in the side channel. As we see on a 5-minute chart the pair trades within the support at 1.3055 and resistance at 1.3145.
 
Yesterday news didn’t have any influence on the pound sterling, as a result trades were without any significant changes and closed in flat. Relying on signals of technical indicators we might assume that today we will observe a further downward trend of the pair with attempts to meet the target at 1.3200.
 
s6WVNqdI.png
 
NewForex Analyst
 
Michael Butnitsky
 
 
Forex News from New Forex: Technical analysis of EUR/USD
 
In the trading on Tuesday, July 26, the pair EUR/USD shows positive dynamics. As we see on a 15-minute chart the market has an uptrend. The pair trades within the level of support at 1.0975 and the level of resistance at 1.1025.
 
Yesterday the euro advanced against the US dollar amid upbeat data from Germany, the trades closed with gains for the single currency. The index of business climate in Germany declined not so seriously as expected.
 
Currently judging by indicators the pair EUR/USD moves upwards. However, a two-day policy meeting of the Federal Reserve System the results of which will be announced tomorrow might have a considerable influence on the pair.
 
s6WVNqdJ.png
 
NewForex Analyst
 
Michael Butnitsky

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#20
Anna Mon

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Forex News from NewForex: Technical analysis of EUR/USD
 
In the trading on Wednesday, July 27, the pair EUR/USD trades in a side ascending channel within the level of support at 1.0978 and the level of resistance at 1.1003. As we see on a 5-minute chart, the single currency tries to advance against the US dollar. Yesterday the euro eased amid the release of upbeat data from the US.
 
Today the market movement will depend on the results of a 2-day Fed policy meeting and the decision over the interest rate. NewForex analysts consider that up to this moment the pair will keep gaining.
 
s6WVNqe7.png
 
NewForex Analyst
 
David Fineberg
 
Forex News from NewForex: Technical analysis of GBP/USD
 
In the trading on Wednesday, July 27, the pair GBP/USD trades within a narrow range. On a 5-minute chart the instrument GBP/USD stands within the support at 1.3104 and resistance at 1.3163.
 
NewForex analytsts point out that the pound sterling is highly unsteady amid recent data. Market participants are concerned about the possible cutdown of the interest rate by the Bank of England at the beginning of August. Meanwhile, the US dollar gains ground amid positive economic data from the US. This situation can be used to open short trades. However, it’s better to wait for the Fed’s decision which will definitely influence on the US currency.
 
s6WVNqe8.png
 
NewForex Analyst
 
David Fineberg

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