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  1. #421
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    LiteForex EUR/USD: the market is waiting for comments from FOMC members



    Current trend



    The pair started the week with growth to 1.1920 after North Korea carried out nuclear missiles testing, and the USA replied with tough rhetoric. However, by now the price has corrected to 1.1880 (middle line of Bollinger Bands at H4).



    Today the most important part of the releases is traditional financial statistics. Services PMIs of Germany and Eurozone for August failed to show material changes or cause considerable market reaction. The indicator for Germany grew from 53.4 to 53.5 points, and for Eurozone reduced from 54.9 to 54.7 points. The statistics on the volume of retail sales in Eurozone was mixed.



    In the USA attention should be paid to statements by the Fed's members Lael Brainard and Neel Kashkari that are especially important in view of the upcoming September meeting of the Fed.



    Support and resistance



    Technically, the pair is trading within the upper Bollinger Band between 1.1840 (Murrey level ) and 1.1962 (Murrey level ) and may continue moving in it as the investors are not likely to take risks before the ECB meeting scheduled for Thursday. In case of breakdown of the level of 1.1840 and the middle line of Bollinger Bands the fall may continue to 1.1720 (Murrey level ) and 1.1660 (lower line of Bollinger Bands). Otherwise the price may go up to the upper border of the range at 1.1962and in case of its breakout go further to 1.2085 (Murrey level ). Indicator show decrease: Stochastic is directed downwards, and MACD histogram is reducing in the positive zone.



    Support levels: 1.1840, 1.1800, 1.1720, 1.1660.

    Resistance levels: 1.1962, 1.2085, 1.2200.



    Trading tips



    In the current situation short positions should be opened below the level of 1.1840 and the middle line of Bollinger Bands with targets at 1.1720, 1.1660 and stop-loss at 1.1880.

    Long positions should be opened above 1.1900 or in case of reversal at 1.1840 with targets at 1.1962, 1.2085 and stop-loss at 1.1870 and 1.1800.



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  2. #422
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    LiteForex NZD/USD: general review



    Current trend



    New Zealand dollar grew against USD during trading on Tuesday supported by the growth of prices for dairy products by 0.3% (the highest in the last three months) and reduced returns on US state bonds. US markets opened after a holiday, and a number of important macroeconomic releases is planned for the current week. Investors are concerned that the concequences of Harvey storm may lead to the fall of economic indicators in the short term whic may influence the Fed's decision on the possible increase of interest rates this year. Potential nuclear crisis in North Korea also has a negative impact on the rate of the US currency.

    Today traders have to pay special attention *to the release of data on Markit PMI changes and services PMI by ISM.



    Support and resistance



    Support levels: 0.7200, 0.7185, 0.7160, 0.7130.

    Resistance levels: 0.7250, 0.7280, 0.7300, 0.7330.



    Trading tips




    Long positions may be opened from the level of 0.7260 with target at 0.7330 and stop-loss at 0.7220.

    Short positions may be opened from the level of 0.7200 with targets at 0.7150 and stop-loss at 0.7230.

    The period of implementation is 1-3 days.



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  3. #423
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    LiteForex USD/JPY: Murrey analysis



    On the D1 chart the price is around the level of 109.37 (main support) — 108.59 (extreme support). The zone seems quite strong as the pair has been testing it in vain since April. Currently the price is approaching the cyclical line near which it may reverse upwards. In this case the growth of the price may continue through a number of levels (110.15 and 110.93 ) to the lower border of horizontal channel 111.71 (bottom of the channel). The continuation of the fall is possible if the price consolidates below 108.59 . In this case the pair may decrease to 107.81 (final resistance) and 106.25 (for W1 chart). Technical indicators show the possibility of the fall but in limited scope. Stochastic is directed downwards but has approached the oversold area. MACD histogram shows indicators of bearish divergence, the occurrence of which will open the way to purchases. *



    Support and resistance



    Support levels: 108.59 (extreme support), 107.81 (final support), 106.25 (rotation and reversal in W1).

    Resistance levels: 109.37 (main support), 110.15 (stop, reversal), 110.93 (rotation, reversal), 111.71 (bottom of the channel).



    Trading tips



    In the current situation buy positions may be opened at the level above109.37 or in case of a turn around 108.59 with targets at 110.15, 110.98, 111.71 and stop-losses at 109.00 and 108.30. Short positions can be opened if the price consolidates below 108.59 with targets at 107.81, 106.25 and stop-loss at 109.00.



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