Analysis by AlexKul

alextrader79

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Jan 16, 2017
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#1
Hello!
I decided to do something useful for other traders, especially for newbies.
I'm going to share my technical analysis and forecast on different currency pairs. I don't tell you that my analysis is absolutely right, I just focus on my decisions and write about signals I see on the market.
Hope it will be useful for traders.

If you want to discuss something, feel free to comment here or write a private message to me!

Best regards,
Alex
 

alextrader79

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Jan 16, 2017
311
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#2
An important statistical data will be published today. The report on the US labor market is in the focus of attention. The preliminary report from ADP released on Wednesday indicates a positive statistics.

I usually don’t trade during such days. Still, I’ve identified the following key levels on EUR/USD
Support - 1.0640, 1.0600
Resistance - 1.0685, 1.0740
 

alextrader79

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Jan 16, 2017
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#3
USD/JPY
Support - 110.15
Resistance - 111.00, 111.75
I’ll watch how the price will react to these marks. And I’ll get to trading next Monday. I wish you all high profits!
 

alextrader79

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#4
The US Department of Labor published a mixed report on Friday. At the same time, the US dollar has finished the trading session in the positive zone. The dollar index has risen by more than 0.5%.
USD/JPY has kept the key demand zone at 110.15-110.35. It has triggered aggressive purchases. The closest resistance level is 111.50. I plan to open deals in the current trend’s direction. I’ll buy this pair, if the price fixes above 111.50. The goal for taking profit is the 112.00 round level.
 

alextrader79

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#5
The drop of EUR/USD quotations exceeded 250 points over the past 2 weeks. I don’t exclude a technical correction. I’ve identified the following key levels:
Support – 1.0570
Resistance – 1.0600
I plan to open transactions from these levels.

I’ll buy it, if the price fixes above 1.0600. Potential movement - to 1.0645.
I’ll sell, if the price fixed below 1.0570. Potential movement - to 1.0525.
 

alextrader79

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Jan 16, 2017
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#6
The technical pattern on GBP/USD is ambiguous for me now. I’ve identified the key levels:
Support – 1.2405
Resistance – 1.2425

I’ll open positions after the breakthrough and retest of these levels.
I’d buy GBP/USD, if the price fixes above 1.2425. Potential movement - to 1.2460.
I’ll sell it, if the price fixes below 1.2405. Potential movement - to 1.2370.

The data on the inflation in Britain will be published today at 8:30. This event can cause a strong movement on the pair.
 

alextrader79

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Jan 16, 2017
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#7
Aggressive sales were at USD/CAD yesterday. The Canadian dollar has added more than 75 points. The currency found its support at the 1.3315 level. I plan to open deals in the current trend’s direction. I’ll sell USD/CAD, if the price fixes below 1.3315. Target movement - to 1.3280.
 

alextrader79

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#8
Geopolitical risks in Syria and North Korea continue to grow. It increases the demand for the safe assets. I’ll sell the USD/JPY pair, if the price fixes below the 109.35 local support. Potential movement - to 109.00-108.75.
 

alextrader79

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Jan 16, 2017
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#9
EUR/USD currency pair was fixed at the 1.0600 "mirror" support level during Asian trading session. It caused a "bullish" sentiment. I plan to open deals in the current trend’s direction. I’ll buy it after the breakdown and retest of the 1.0630 local resistance. The goal for taking profits is 1.0660. The growth of the MACD histogram is a confirmation signal.
 

alextrader79

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Jan 16, 2017
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#10
Yesterday's comments by D. Trump put pressure on the American currency. The US president said that the dollar is too strong. Also, Trump preferred to keep the interest rates low.
Bank of Canada has kept the monetary policy at the same level. The head of the Central Bank said that the rates won’t decline in the near future. Bearish sentiments prevail on USD/CAD at the moment. I plan to open deals in the current trend’s direction. I’ll sell, if the price fixes below the 1.3230 local support level. Potential movement - to 1.3200-1.3175.
 

alextrader79

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Jan 16, 2017
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#11
Aggressive purchases took place on GBP/USD since the beginning of this week. I don’t rule out a correction at the moment. I plan to wait for the price reduction to the 1.2495-1.2510 demand zone. Upon reaching this mark, I’ll think of buying the pair.
At the same time, if the pound rally continues and the price fixes above the 1.2570 local resistance, I will also buy GBP/USD. The goal for taking profit is 1.2610.
 

alextrader79

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Jan 16, 2017
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#12
Today, most financial markets are closed due to Good Friday. I expect lower volatility and trading activity. That’s why I won’t open positions. At the same time, the data on the US inflation will be released at 12:30 (GMT). This event can cause quite strong moves on the major currency pairs. I’ve identified the following key levels on EUR/USD.

Support levels: 1.0570
Resistance levels: 1.0630, 1.0675, 1.076
 

alextrader79

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Jan 16, 2017
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#13
USD/JPY, the key levels:
Support levels: 108.75
Resistance levels: 109.35, 109.85, 110.40

I’m going to watch how the price will react to them, but will be back to trading on Monday.
Wish you all high profits!
 

alextrader79

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Jan 16, 2017
311
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#14
The situation on USD/JPY is ambiguous for me now. On the one hand, the technical pattern indicates a correction. There is also a strong reversal formation on this currency pair: the divergence of the price and the MACD histogram. On the other hand, a tense situation in North Korea supports the demand for safe assets. I’ll open deals after the breakthrough and retest of the key levels.

I’ll buy it, if the price fixes above the 109.35 level. Potential movement - to 109.85.
I’ll sell it, If the price fixes below the 108.75 level. The goal for taking profit is 108.15.
 

alextrader79

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Jan 16, 2017
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#15
I expect to see "bullish" sentiments on EUR/USD today. The key trading range is 1.0635-1.0650. I’ll buy the pair, if the price fixes above 1.0650. The target mark is 1.0675-1.0700. This deal will be short-term and speculative.
 

alextrader79

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Jan 16, 2017
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#16
The pound rose against the US currency yesterday. The quotes growth exceeded 300 points. The currency has reached the 1.2900 round level. It happened due to the preterm elections in the UK. Theresa May’s party has taken the leading positions. Winning will help to make their position in the negotiations with the EU stronger.

I expect for a correction on GBP/USD after yesterday’s significant growth. I’ll sell, if the price fixes below 1.2810. The nearest goal for taking profit is 1.2750.

At the same time, I don’t exclude the possible further growth of the GBP/USD quotes. The US dollar is under pressure due to the fall of government bonds. I’ll buy, if the price fixes above 1.2860. the nearest goal is 1.2900.
 

alextrader79

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Jan 16, 2017
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#17
An interesting technical pattern has formed on NZD/USD. Bearish sentiments prevail here at the moment. The Outside Bar pattern at the H1 timeframe is a confirmation signal of the development of a downward trend. I’ll sell the pair after the retest of the 0.7030 "mirror" resistance. Potential movement - to the 0.7000 round level.
 

alextrader79

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Jan 16, 2017
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#18
The GBP/USD pair maintained the 1.2770 local support level during the Asian trading session. It has triggered bullish sentiments. The pound is testing the 1.2820 local resistance now. I’ll buy the pair after the breakthrough and retest of this mark. Potential movement - to 1.2860-1.2900. This deal will be short-term and speculative.
 

alextrader79

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Jan 16, 2017
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#19
Aggressive purchases were observed on USD/CAD during this week. The Canadian dollar has weakened against the US dollar by more than 175 points. The currency has reached the 1.3490-1.3525 key offer zone. I don’t exclude a correction on this pair after such a sharp increase in the nearest future. I’ll sell, if the price fixes below the 1.3460 local support. The goal is the 1.3400 round level.
 

alextrader79

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Jan 16, 2017
311
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#20
The Canadian dollar hasn’t got through the 1.3460 local support. The currency was traded in flat. It is testing the 1.3460 mark at the moment. I’m still waiting for a correction. I’ll sell the pair, if the price fixes below this level. Potential movement – to 1.3400.