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Forex News Analysis by LiteForex


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  #371  
Old 05-26-2017, 06:54 PM
LiteForex OfficLiial LiteForex OfficLiial is online now
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USD/CHF: general review

Current trend

This week the pair USD/CHF was trading in the side corridor between the strong support level of 0.9700 and resistance level of 0.9780. Yesterday US dollar grew in view of positive data on the number of initial jobless claims (the indicator was lower than expected and made up 234K). Negative weekly data for CHF include April trading balance (that fell to 1.968 mln) and the volume of industrial output for Q1 2017 (that reduced to 4.6%). Nevertheless, CHF was stable against te growing USD. Having tested the level of 0.9700 once again, the pair failed to break through it.

Today additional volatility to the pair may be given by the US GDP data for Q1 2017 (that is to increase by 0.9%) and statistics on the volume of demand for durable goods (in April the indicator may fall by 1.2%). Generally the data is not overally positive for USD, but the pair is unlikely to enter serious correction. It may remain within the horizontal range.

Support and resistance

Support levels: 0.9700, 0.9640, 0.9550.
Resistance levels: 0.9780, 0.9850, 0.9930, 1.0000.

Trading tips

Long positions may be opened at the market price with target at 0.9780 and stop-loss at 0.9640.
Alternatively, one may open sell positions at the level of 0.9780 with target at 0.9700 and stop-loss at 0.9860.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

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  #372  
Old Yesterday, 05:38 PM
LiteForex OfficLiial LiteForex OfficLiial is online now
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GBP/USD: general review

Current trend

The rate of the pound rapidly fell against USD in the end of the previous week dropping by 230 points. The pair closed trading at the level of 1.2808 which is the lowest closing price in the previous four weeks. The fall of GBP was caused by the polls taken in view of the upcoming UK election. The positions of the conservative wavered after Manchester events.

Last week the price failed to overcome an important level of 1.3030 which would have given the "bulls" an additional impulse. Today is a holiday in the UK and USA, therefore no activity in the market should be expected due to low liquidity. This should keep the pair GBP/USD within the narrow range and in the consolidation regime.

In the USA FOMC statement on the interest rate was more cautios than expected. The regulator pointed out that the increase of interest rates will depend on the information received by it. Therefore the release of the data on the nonfarm payrolls schedulled in the end of the week shall determine yet another direction for USD. The pound, in turn, may be under pressure in view of the news about another referendum in Scotland on its exit from the UK in case of the victory of the dominant party at the election on June 8.

Support and resistance

Support levels: 1.2830, 1.2800.
Resistance levels: 1.2850, 1.2900, 1.2930, 1.2975, 1.3015, 1.3045.

Trading tips

Short positions may be opened from the level of 1.2790 with target at 1.2700 and stop-loss at 1.2820.
Long positions may be opened from the level of 1.2850 with targets at 1.2900 and stop-loss at1.2820.
The period of implementation is 2-5 days.

Read more analytic on LiteForex site https://www.liteforex.com/trading/forex-analysis/

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