Daily Market Analysis from NewForex Broker

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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.

 

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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.

 

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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.

 

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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.

 

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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.

 

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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.

 

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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.

 

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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.

 

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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

 

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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).

 

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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.

 

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

The currency pair is traded within the levels of support at 1.0790 and resistance at 1.0869. The market demonstrates a slight bullish sentiment with strong signs of being oversold according to the Stochastic oscillator. In the short term the downward trend will keep its pace and 3, 7 and 25-day Moving Average show it. The nearest levels of support are seen at 1.0761 and 1.0730. If a strong bullish market keeps its dominance, the level of resistance will be at 1.1215 (a high of June 10).

 

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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).

 

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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.

 

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Forex News from New Forex: European shares demonstrate a downward trend

In the trading on Tuesday, July 21, European shares lose ground. The pan-European index Stoxx 600 has advanced only 0,2%. The British FTSE 100 is at 6782.91, shedding 0.10%. The German DAX edged down to 0.07% and is at 11726.96, the French CAC 40 slipped to 0.18% and is at 5133.33.

Today the euro hit a 3-month low against the US dollar in spite of the news about a new bailout deal to provide Greece with financial support. The pair EUR/USD is at 1.0812. The possible level of support is 1.0782, a low of April 24, the level of resistance is 1.0908, a high of July 17. The euro has failed to surge after the opening of Greek banks.

On Monday Greece repaid €2.0 billion to the International Monetary Fund. Thus, the fund is now ready to render financial assistance to Greece. Tomorrow the Greek government is going to carry over for consideration further austerity measures.

 

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

Yesterday the single currency didn’t live up to expectations of bears considering that the market will overcome a strong level of support at 1.0808. However, at the end of the trading session the euro pared earlier losses against the greenback and bumped into resistance at 1.0962. Today the pair has a mild bullish tone with a relatively wide range. The nearest level of support is seen at 1.0874 and resistance at 1.1030.

 

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

At the end of the Asian trading session the currency pair is traded within the immediate support at 0.6592 and resistance at 0.6690. During the last three trading days there has been a correction of a downward trend with a pullback from the low of July 16 at 0.6497 and testing the resistance at 0.6748. In spite of the correction, in the long run the market will continue consolidation inside of the descending canal which is proved by trend indicators. Oscillators are in the neutral zone, consequently it is quite risky to enter the market with long positions despite their signals. However, it is better not to shrug off the decision of NZ central bank on the interest rate which is announced today at 21:00 UTC.

 

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

After yesterday's pullback the pair returns to the ascending trend with the immediate level of support at 1.5580 and resistance at 1.5680.

Trades have a mild bullish tone today. In the short run it aims for 1.5674, then 1.5788 (a high of June 29). In case of its successful breach, it would target 1.5929 (a high of June 18).

Basing on data of MACD and the Stochastic Oscillator there might be a consolidation of the market within the above mentioned levels of support and resistance.

 

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

In the trading in Asia the Aussie continued to lose ground against the US dollar. Bouncing off the market has returned to the descending trend and the currency pair is now within the level of support at 0.7328 and resistance at 0.7408 testing the last one.

Both oscillators and trend indicators point to the further downward trend which makes short positions more preferable fixing the profit within the level of support at 0.7310 and 0.7221.

 

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Forex News from New Forex: Asian markets trade in the positive zone

Upbeat data of the domestic sector earnings pushed the Japanese shares higher. Confident key figures of retail and tourism sectors contributed to the ascending dynamics of the Japanese stock market.

The Nikkei closed trades at 20,683.95 surging 0.4% in comparison with the previous trading session. The broader Topix gained 0.6% to 1,664.88, JPX-Nikkei 400 edged up 0.6% to 15,019.88.

Hong Kong stock market demonstrates a rise as well. The Hang Seng index climbed 0.5% to 25,398.85, the China Enterprises index jumped 0,.9% to 1,834.47. The main economy sectors such as finances, property and information technologies are in the green zone. The only exception was a telecom subindex. Shares of China Mobile, China Telecom and China Unicom fell when the government of China ordered them to cut broadband fees by the end of October.