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  1. #351
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    Brent Crude Oil: general analysis



    Current trend



    On Wednesday the Brent Crude Oil price grew, reacting to the API Crude Oil Stocks change that showed the USA resources lowering. The EIA Crude Oil Stocks change, which was published in the Wednesday evening, showed the lowering by 1.753 million barrel in a week. As a result the Brent Crude Oil grew by 1.81% and reached the area of the level of 52.64. The price tried to consolidate above the level for some times, but didn’t succeed, so the price was corrected downwards. It’s hard to increase the price above the level, taking into consideration the global oil surplus problems. After the slight growth of the last days the price entered the downward correction.



    The traders are waiting for the further OPEC signals upon the stabilization of the world oil production level. The nearest OPEC meeting is on May, 25 in Vienna.



    Support and resistance



    Technical indicators reflect the growing influence of the sellers. Bollinger Bands are pointed downwards. MACD histogram is in the positive zone; however its volumes are decreasing confirming the downward trend.

    Support levels: 51.20, 50.30, 49.20.

    Resistance levels: 52.64, 53.67, 54.44.



    Trading scenario



    Open short positions below the level of 51.20 with the target at around 50.30 and stop loss at 51.45.

    Open long positions above the level of 52.64 with the target at around 53.67 and stop loss at 52.30.



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    EUR/USD: general review



    Current trend



    On Thursday USD stabilized after a fall in the beginning of the week caused by political turmoil in the USA. The US currency was supported by a strong unemployment report. The number of initial jobless claims dropped from 236K to 232K while the experts expected it to grow to 240K. Moreover, manufacturing PMI in Philadelphia suddenly drew from 22.0 to 38.8 points against the negative forecast of 19.9 points.



    Currently the possibility of further fall of USD is high as political instability in Washington puts complex pressures on USD. Along with this Trump's impeachment is often mentioned in the media, and macroeconomic statistics becomes secondary.

    Today in the second half of the day the market will be waiting for a statement by FOMC representative James Bullard dedicated to the fiscal policy. The comments of the official may have a considerable impact on the dynamics of the pair as the doubts about the growth of interest rates grow every day. Later on the European Commission will publish the data on consumer sentiment index in May. The expected growth of the indicator will strengthen the pair.



    Support and resistance



    On D1 chart the pair is trading in the upper part of Bollinger Bands. The indicator is directed downwards while the price range remains unchanged which is a ground for the continuation of the current trend. MACD histogram is in the positive zone with its volumes growing and keeping the sell signal. Stochastic is about to leave the overbought zone.



    Support levels: 1.1065, 1.1015, 1.0951, 1.0853, 1.0765.

    Resistance levels: 1.1132, 1.1183, 1.1246, 1.1310.



    Trading tips



    Long positions should be opened at the current price with targets at 1.1245 and stop-loss at 1.1038. The period of implementation is 1-2 days.

    Short positions could be opened at the level of 1.1036 with target at 1.0945 and stop-loss at 1.1100. The period of implementation is 1-3 days.



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  3. #353
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    Brent Crude Oil: general analysis



    Current trend



    Last week oil prices reached the 4 weeks maximum around 53.50-54.00 USD per barrel. The price was supported by the lowering of the USD, which is weakening due to the USA Administration crisis. The lowering of the US oil recourses also made a positive impact on the price. In addition, the commentaries of the OPEC members leave no doubt that the oil production limitation agreement will be prolonged.

    The main upcoming issue in the oil market is the OPEC meeting in Vienna on May, 25. Most likely, the result of the meeting is already taken into account by the investors, and after the publication of the results of the OPEC meeting the traders will fix the profit partially, which will lead to the lowering of the price.



    Support and resistance



    Technical picture reflects that the price crossed very significant resistance zone — the lower border of the channel D1 (blue), which has been the price growth trend line for the year and a half. Further reaction of the price in this zone will determine the movement dynamics in the nearest future.

    Support levels: 53.75, 53.00, 52.60, 51.50.

    Resistance levels: 54.40, 55.00, 56.15, 57.20.



    Trading scenario



    Open long positions at the current price with the target at 54.40, 55.00 and stop loss at 53.70.

    Sell at the level of 53.00 with the target at 52.60, 51.50 and stop loss at 53.40.

    Implementation period: 2-3 days.



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  4. #354
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    AUD/USD: общий обзор



    Текущая динамика



    На фоне отсутствия макроэкономической статистики участники рынка продолжают отыгрывать негативные политические факторы из США и продают американские доллары, результатом чего стал рост курса AUD/USD. За последние сутки пара прибавила 0,55% и поднялась в район 0.7493.

    Показания технических индикаторов говорят о том, что покупатели на рынке все ещё сильны. Полосы Боллинджера расходятся, подтверждая восходящую тенденцию. Гистограмма MACD находится в положительной зоне, объёмы её стремительно растут и формируют сигнал на покупку. Пробой уровня 0.7511 будет сигналом к продолжению роста и откроет паре путь к уровню 0.7555. Если попытки закрепиться выше уровня 0.7511 останутся безуспешными, то в таком случае стоит ждать коррекции курса в район средней полосы Боллинджера (0.7450).



    Уровни поддержки и сопротивления



    Уровни поддержки: 0.7474, 0.7437, 0.7394.

    Уровни сопротивления: 0.7511, 0.7555, 0.7587.



    Торговые сценарии



    Позиции на покупку открывать выше уровня 0.7511 с целями в районе 0.7555, 0.7587 и стоп-лоссом на уровне 0.7485.

    Позиции на продажу открывать ниже уровня 0.7474 с целями в районе 0.7437, 0.7394 и стоп-лоссом на уровне 0.7500.



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  5. #355
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    NZD/USD: general review



    Current trend



    After significant growth in the beginning of the week the pair NZD/USD is demostrating a decrease. Yesterday US dollar had a number of positive moments, and the pair made a short-term attempt to stick at the local maximum. However, the price was quickly reduced by the sellers which caused a new round of correction. The statements by the FOMC member Patrick Harker about the remaining possibility of two interest rate increases this year also had a positive impact on USD rate.



    The main event of today will be the publishing of the final MoM of FOMC Open Markets Committee. The market is expected to be highly volatile.



    Support and resistance



    On D1 chart the pair corrected to the upper border of Bollinger Bands. MACD histogram is near the zero level, and its volume is minimal.

    Support levels: 0.6960, 0.6900, 0.6850, 0.6820.

    Resistance levels: 0.7050, 0.7100, 0.7150, 0.7275, 0.7350.



    Trading tips



    Short positions may be opened at the current price with targets at 0.6950 and stop-loss at 0.7030.

    Long positions may be opened from 0.7060 with targets at 0.7150 and stop-loss at 0.7030.

    The period of implementation is 1-2 days.



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  6. #356
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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.



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  7. #357
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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.



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  8. #358
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    USD/CAD: general review



    Current trend



    The growth of Canadian dollar strengthened after the decision of the Bank of Canada on the interet rate made last week. As a result the pair reached its six-weeks minimum from which upward correction (purple trend line) started. Right now the movement of the pair is hindered by a stronger trend line — the blue one. The price is likely to meet it between the levels of 1.3535 and 1.3600.

    Today the dynamics of the pair may be influenced by the important data from Canada and the USA. The data on the Canadian trading balance and raw materials prices index are due at 14:30 (GMT+2). The information on personal income and expenditure will be published in the USA at the same time.

    The most likely scenario for today is the continuation of the pair's growth.



    Support and resistance



    Support levels: 1.3450, 1.3400, 1.3315, 1.3260.

    Resistance levels: 1.3535, 1.3600, 1.3700, 1.3790.



    Trading tips



    Long positions may be opened at the market price with targets at 1.3535, 1.3600 and stop-loss at 1.3430.

    Alternatively, sell positions may be opened from the level of 1.3426 with targets at 1.3400, 1.3315 and stop-loss at 1.3456.

    The period of implementation is 1-2 days.



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











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  9. #359
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    USD/CHF: general review



    Current trend



    Yesterday the dynamics of the pair USD/CHF was determined by negative values of oth currencies. After Swiss index of leading economic indicators for May appeared to be wore than expected, the pair moved up from the narrow two-weeks flat. But weak data on the consumer confidence index from the USA returned the price of the pair back to the range indicating that it was falsely broken through.

    ZEW Indicator of Economic Sentiment is due today in Switzerland at 10:00 (GMT+2).



    PMI Chicago will be published at 15:45 (GMT+2). The data on incompleted sales transactions in the US real estate market is due at 16:00 (GMT+2). FOMC Beige Book Economic Review is due at 20:00 (GMT+2). *

    *

    Support and resistance



    Support levels: 0.9700, 0.9640, 0.9550.

    Resistance levels: 0.9780, 0.9850, 0.9930, 1.0000.



    Trading tips



    Short positions may be opened at the market price with targets at 0.9700, 0.9640 and stop-loss at 0.9780.

    Alternatively, buy positions may be opened from 0.9780 with targets at 0.9850, 0.9930 and stop-loss at 0.9740.



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  10. #360
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    NZD/USD: general analysis



    Current trend



    The New Zealand dollar is lowering during the trading session today.

    The NZD is weakening due to the poor PRC data publications. According to Caixin, the China Manufacturing PMI lowered below the level of 50 for the first time from June, 2016. In May the index lowered by 0.7 to 49.6 points. The index evaluates the state of the manufacturing industry.



    A reading above 50 is perceived as positive for the Chinese economy. A reading below 50 is perceived as negative. The New Zealand economy is responsive to the PRC economical news, as China is its major trading partner.

    Today the list of US economical news will be published. The ISM Manufacturing PMI is worth traders’ attention, as it will give an insight of the economy growth rate, and the ISM Prices Paid.



    Support and resistance



    On the 4-hour chart the pair is moving within the upward channel. It is expected to trade near its lower border. MACD is above the zero line, but its volumes are decreasing, Stochastic is pointed downwards. The indicators give a sell signal.



    Support levels: 0.7060, 0.7020, 0.6970.

    Resistance levels: 0.7090, 0.7130, 0.7185.



    Trading scenario



    Buy the pair after the price is set above the level of 0.7090 with the target at 0.7130 and 0.7185, stop loss is at 0.7070.

    Short positions seem more relevant, open ones below the level of 0.7060 with the target at 0.7020 and 0.6970 and stop loss at 0.7080.

    Implementation period: 1-2 days.



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